鼎龙股份向不特定对象发行可转债申请文件 募集说明书 股票简称：鼎龙股份 股票代码：300054 湖北鼎龙控股股份有限公司 Hubei Dinglong Co., Ltd. （武汉市经济技术开发区东荆河路1号） 向不特定对象发行可转换公司债券 募集说明书 （申报稿） 保荐机构（主承销商） 二零二四年九月 鼎龙股份向不特定对象发行可转债申请文件 募集说明书 声 明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对申请 文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的 盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之相反 的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由发 行人自行负责。投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担证券依法发行后因发行人经营与收益变化或者证券价格变动引致的投资风险。 1-1-1 一、关于本次可转换公司债券发行符合发行条件的说明 根据《中华人民共和国证券法》《上市公司证券发行注册管理办法》《可转换 公司债券管理办法》等法律、法规及规范性文件的有关规定，公司对本次申请向 不特定 ...

鼎龙股份向不特定对象发行可转债申请文件 审核问询函的回复 股票简称：鼎龙股份 股票代码：300054 湖北鼎龙控股股份有限公司 与 招商证券股份有限公司 关于公司向不特定对象发行可转换公司债券 《审核问询函》 （审核函〔2024〕020022 号）的 回复 保荐机构（主承销商） 二零二四年九月 7-1-1 鼎龙股份向不特定对象发行可转债申请文件 审核问询函的回复 深圳证券交易所： 根据贵所于 2024 年 9 月 4 日出具的审核函〔2024〕020022 号《关于湖北鼎 龙控股股份有限公司申请向不特定对象发行可转换公司债券的审核问询函》（以 下简称"审核问询函"）的要求，湖北鼎龙控股股份有限公司（以下简称"公司"、 "发行人"、"鼎龙股份"）已会同招商证券股份有限公司（以下简称"招商证券" 或"保荐机构"）、湖南启元律师事务所（以下简称"启元律所"或"发行人律师"）、 立信会计师事务所（特殊普通合伙）（以下简称"立信所"或"申报会计师"）对 审核问询函的有关事项进行了认真核查与落实。现就审核问询函涉及问题的核查 和落实情况逐条说明如下（本回复报告中的简称与《募集说明书》中的简称具有 相同含义）： 7-1-2 ...

证券代码：300054 证券简称：鼎龙股份 公告编号：2024-068 公司收到审核问询函后，按照要求会同相关中介机构就审核问询函提出的问 题进行了认真研究和逐项落实，现根据相关要求对审核问询函回复进行公开披 露，具体内容详见公司于2024年9月26日在巨潮资讯网（www.cninfo.com.cn）披 露的《湖北鼎龙控股股份有限公司和招商证券股份有限公司关于公司向不特定对 象发行可转换公司债券审核问询函的回复（豁免版）》等相关文件，公司将按照 要求及时将书面回复材料报送深交所。 同时，鉴于公司于2024年8月20日披露了《2024年半年度报告》，公司会同 相关中介机构对募集说明书等申请文件中涉及的财务数据进行了更新，具体内容 详见公司于2024年9月26日在巨潮资讯网（www.cninfo.com.cn）披露的《湖北鼎 龙控股股份有限公司向不特定对象发行可转换公司债券募集说明书（申报稿）（更 新版）》等相关文件。 公司本次向不特定对象发行可转换公司债券事项尚需通过深交所审核，并获 得中国证券监督管理委员会（以下简称"中国证监会"）做出同意注册的决定后 方可实施，最终能否通过深交所审核，并获得中国证监会同意注 ...

证券代码：300054 证券简称：鼎龙股份 湖北鼎龙控股股份有限公司投资者关系活动记录表 编号：20240911 | --- | --- | --- | |-----------------------|-------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系 \n活动类别 | □新闻发布会 □路演活动 \n□现场参观 \n□其他： | ■特定对象调研 □分析师会议 \n□媒体采访 □业绩说明会 | | 参与单位名称 | | 海通证券：肖隽翀；国泰君安证券：文越、应佳等 3 名投资者及证券人员 | | 及人员姓名 | 年 月 日下午 | | | 时间 | 2024 9 11 公司 9 楼会议室 | 1 ...

证券代码：300054 证券简称：鼎龙股份 公告编号：2024-067 湖北鼎龙控股股份有限公司 关于两家控股子公司分别被认定为国家专精特新重点"小巨人"企业 和国家专精特新"小巨人"企业的公告 二、入选子公司主营业务介绍 鼎汇微电子作为国内唯一一家全面掌握抛光垫全流程核心研发和制造技术 的CMP抛光垫的国产供应商，率先将抛光垫应用制程突破至国内领先水平，不 断扩展抛光垫新的配方体系，确立了CMP抛光垫国产供应龙头地位。其产品深 度渗透国内主流晶圆厂客户，成为部分客户的第一供应商，被多家晶圆厂核心客 户评为优秀供应商。 柔显科技是新型显示前沿技术的创新材料支持商，围绕柔性OLED显示屏幕 制造用的上游核心"卡脖子"材料进行布局，目前已有YPI、PSPI、TFE-INK三 款产品在客户端实现规模销售，并已成为国内大部分主流显示面板客户YPI、 PSPI产品的第一供应商，确立YPI、PSPI产品国产供应领先地位。 三、对公司的影响 本公司及董事会全体人员保证信息披露的内容真实、准确和完 整，没有虚假记载、误导性陈述或者重大遗漏。 一、基本情况 根据湖北省经济和信息化厅发布的《关于2024年拟支持专精特新重点"小巨 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Insights - The company achieved a revenue of 1.519 billion yuan in the first half of 2024, representing a year-on-year increase of 31.01%. The net profit attributable to shareholders was 218 million yuan, up 127.22% year-on-year, and the net profit after deducting non-recurring gains and losses was 197 million yuan, an increase of 188.64% year-on-year. The gross profit margin was 45.19%, an increase of 11.36 percentage points year-on-year [5][6] Summary by Sections Financial Performance - In Q2 2024, the company achieved a revenue of 811 million yuan, a year-on-year increase of 32.35%. The net profit attributable to shareholders was 136 million yuan, up 122.88% year-on-year, and the net profit after deducting non-recurring gains and losses was 131 million yuan, an increase of 177.48% year-on-year. The gross profit margin was 45.99%, an increase of 12.88 percentage points year-on-year [5][6] Semiconductor Business Development - The semiconductor materials and chip business achieved a revenue of 634 million yuan in H1 2024, a year-on-year increase of 106.56%, with a gross profit margin of 67.21%, up 8.27 percentage points year-on-year. Key products such as CMP polishing pads, CMP polishing liquids, and semiconductor display materials saw significant revenue growth [5][6] Traditional Business Improvement - The company's printing and copying consumables business generated a revenue of 867 million yuan in H1 2024, a year-on-year increase of 4.05%, with a gross profit margin of 29.29%, up 4.24 percentage points year-on-year. The profitability of upstream products also improved [5][6] Future Growth Potential - The company plans to issue convertible bonds to raise up to 920 million yuan, which will be used for semiconductor projects and to enhance liquidity. The company is positioned as a leader in semiconductor materials, with significant growth expected in the coming quarters [6][7]

Investment Rating - The report maintains an **Overweight** rating for the company, with a target price of RMB 19.20 [1] - The sector rating is **Outperform** [1] Core Views - The company's performance in the first half of 2024 showed significant year-on-year growth, with Q2 2024 polishing pad revenue reaching a historical high [1] - The company's semiconductor business layout and new product development progress are key drivers for maintaining the Overweight rating [1] - The company's 2024 H1 revenue reached RMB 1.519 billion, a 31.01% YoY increase, with net profit attributable to shareholders of RMB 218 million, a 127.22% YoY increase [4] - Q2 2024 revenue was RMB 811 million, a 32.25% YoY increase, with net profit attributable to shareholders of RMB 136 million, a 122.88% YoY increase [4] Financial Performance - The company's gross margin in H1 2024 was 45.19%, an increase of 11.35 percentage points YoY, while the net margin was 18.85%, up 8.75 percentage points YoY [4] - Operating cash flow in H1 2024 was RMB 341 million, indicating strong cash flow support for business development [4] - R&D investment in H1 2024 was RMB 219 million, accounting for 14.42% of revenue, supporting rapid layout of new products [4] Semiconductor Business - Semiconductor business revenue in H1 2024 was RMB 634 million, a 106.56% YoY increase, accounting for 42% of total revenue [4] - CMP polishing pad revenue in H1 2024 was RMB 298 million, a 99.79% YoY increase, with Q2 revenue reaching RMB 163 million, a 92.03% YoY increase [4] - Polishing liquid and cleaning liquid revenue in H1 2024 was RMB 76.41 million, a 189.71% YoY increase, entering a phase of order volume expansion [4] Display Materials and Advanced Packaging - Display materials revenue in H1 2024 was RMB 167 million, a 232.27% YoY increase, with Q2 revenue of RMB 97.07 million, a 160.53% YoY increase [4] - The company has developed 20 photoresist products, with 9 already sent for testing and 5 entering the gallon sample verification stage [4] - The company has laid out 7 semiconductor packaging PI products, with 5 already sent for testing and some products verified and imported in H1 2024 [4] Valuation and Forecast - The report slightly raises the profit forecast, expecting net profit attributable to shareholders of RMB 448 million, RMB 667 million, and RMB 871 million for 2024-2026, with EPS of RMB 0.48, RMB 0.71, and RMB 0.93 respectively [4] - The PE ratios for 2024-2026 are expected to be 40.2x, 27.0x, and 20.7x respectively [4]

证 券 2024 年 08 月 22 日 研 告 究 上半年业绩高增，打造半导体材料平台型企业 报 —鼎龙股份（300054.SZ）公司事件点评报告 增持(首次) 事件 分析师：毛正 S1050521120001 maozheng@cfsc.com.cn 分析师：吕卓阳 S1050523060001 lvzy@cfsc.com.cn 基本数据 2024-08-21 | --- | --- | |----------------------|-------------| | 当前股价（元） | 19.51 | | 总市值（亿元） | 183 | | 总股本（百万股） | 938 | | 流通股本（百万股） | 728 | | 52 周价格范围（元） | 16.36-24.88 | | 日均成交额（百万元） | 184.32 | 资料来源：Wind，华鑫证券研究 鼎龙股份发布 2024 半年度业绩报告：2024 年上半年，公司 实现营收 15.2 亿元，同比增长 31.01%；实现归母净利润 2.2 亿元，同比增长 127.22%。 投资要点 ▌开拓卓有成效，Q2 收入利润同环比双增 公司 Q2 单季度现营业收入 ...

Investment Rating - The report maintains a "Buy" rating for Dinglong Co., Ltd. (300054.SZ) [4] Core Views - Dinglong Co., Ltd. achieved a revenue of 1.519 billion yuan in H1 2024, representing a year-on-year increase of 31.01%, and a net profit attributable to shareholders of 218 million yuan, up 127.22% year-on-year [1] - The new materials business contributed over half of the revenue, with semiconductor materials revenue reaching 634 million yuan, a year-on-year increase of 106.56%, and its share of total revenue rising from 32% in 2023 to 42% in H1 2024 [1] - The company plans to issue convertible bonds to raise 920 million yuan, with 480 million yuan allocated for the construction of 300 tons of KrF/ArF photoresist capacity, aiming to tackle the challenges of domestic production in high-end materials [1][2] Summary by Sections Financial Performance - In Q2 2024, Dinglong Co., Ltd. reported revenue of 811 million yuan, a quarter-on-quarter increase of 14.52% and a year-on-year increase of 32.35%, with a net profit of 136 million yuan, up 67.04% quarter-on-quarter and 122.88% year-on-year [1] - The company’s revenue from display materials reached 167 million yuan in H1 2024, a year-on-year increase of 232.27% [1] Business Development - The company has established a leading position in the domestic supply of YPI and PSPI products, with production capacities of 1,000 tons and 1,200 tons respectively [2] - The stock incentive plan aims for net profit targets of 500 million, 700 million, and 1 billion yuan for 2024, 2025, and 2026 respectively, indicating a projected compound annual growth rate (CAGR) of 65% from 2023 to 2026 [2] Market Outlook - The global PSPI market is expected to reach 12 billion yuan by 2029, with a compound annual growth rate of 27.5% from 2022 to 2029, positioning Dinglong Co., Ltd. favorably in the new display materials sector [2] - The report forecasts net profits of 516 million, 721 million, and 972 million yuan for 2024, 2025, and 2026 respectively, with corresponding price-to-earnings (PE) ratios of 36, 25, and 19 [2]

Investment Rating - The report maintains a "Recommended" rating for the company [2][3]. Core Views - The company achieved significant growth in Q2 2024, with revenue reaching 8.11 billion yuan, a year-on-year increase of 32.35%, and a net profit of 1.36 billion yuan, up 122.88% year-on-year [2]. - The semiconductor innovation materials business is accelerating, with CMP polishing pad revenue hitting a record high of 298 million yuan, a 99.79% increase year-on-year [2]. - The company is expected to benefit from increasing downstream demand in the semiconductor sector, with projected net profits of 4.79 billion yuan, 6.60 billion yuan, and 9.31 billion yuan for 2024, 2025, and 2026 respectively [2]. Financial Performance Summary - For the first half of 2024, the company reported total revenue of 15.19 billion yuan, a 31.01% increase year-on-year, and a net profit of 2.18 billion yuan, up 127.22% year-on-year [2]. - The gross profit margin improved to 45.19%, an increase of 11.36 percentage points year-on-year [2]. - The company’s revenue and net profit growth in Q2 were driven by expanding its semiconductor business market and improving product penetration in domestic wafer and display panel manufacturers [2]. Revenue and Profit Forecast - The company is projected to achieve revenues of 3.378 billion yuan, 3.868 billion yuan, and 4.481 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 479 million yuan, 660 million yuan, and 931 million yuan [3][6]. - The expected price-to-earnings (PE) ratios for 2024, 2025, and 2026 are 38, 28, and 20 respectively [3][6].