Investment Rating - The investment rating for the company is "Buy" (maintained) [3] Core Views - The company is experiencing rapid growth in its polishing liquid business, with a new growth driver taking shape as it secures significant orders from mainstream wafer manufacturers [5][6] - The company has achieved stable mass production capabilities for its CMP polishing liquids and related nano-grinding particles, which are critical for semiconductor manufacturing [5] - The financial forecasts for the company indicate a projected net profit of 4.42 billion, 6.22 billion, and 8.88 billion yuan for the years 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 47.0, 33.4, and 23.4 times [5] Financial Summary - The company's revenue is expected to grow from 2.67 billion yuan in 2023 to 3.19 billion yuan in 2024, representing a year-on-year increase of 19.7% [7] - The net profit is projected to increase significantly from 222 million yuan in 2023 to 442 million yuan in 2024, reflecting a year-on-year growth of 99.0% [7] - The gross margin is expected to improve from 36.9% in 2023 to 39.8% in 2024, while the net margin is projected to rise from 8.3% to 13.8% in the same period [7] Business Development - The company has diversified its product offerings, developing nearly 40 types of polishing liquids for various semiconductor processes, enhancing its market competitiveness [6] - The self-supply of core raw materials for polishing liquids has broken the monopoly of foreign suppliers, ensuring a stable and cost-effective supply chain [6] - The company is actively developing post-polishing cleaning liquids, which are essential for maintaining device cleanliness, and has already secured orders for some of these products [6]

证券代码：300054 证券简称：鼎龙股份 公告编号：2024-061 湖北鼎龙控股股份有限公司 关于鼎龙（仙桃）半导体材料产业园多晶硅及氮化硅抛光液产品 获得国内主流晶圆厂客户订单的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没 有虚假记载、误导性陈述或者重大遗漏。 目前，公司全制程 CMP 抛光液产品的市场推广持续进行，多款型号抛光液 产品在客户端的订单需求持续上升，铜及阻挡层抛光液、介电层氧化铈抛光液等 产品的开发验证预计也将在今年下半年取得进一步突破。 上述订单的执行对公司的业务独立性不构成影响，公司主要业务不会因订单 的执行而对客户形成依赖。后续公司将及时跟进上述订单的执行情况并履行相应 的信息披露义务，请广大投资者注意投资风险。 特此公告。 湖北鼎龙控股股份有限公司董事会 2024 年 7 月 9 日 湖北鼎龙控股股份有限公司（以下简称"公司"）控股子公司—武汉鼎泽新 材料技术有限公司（以下简称"鼎泽新材料"）位于仙桃园区年产 1 万吨 CMP 抛光液（一期）及年产 1 万吨 CMP 抛光液用配套纳米研磨粒子产线自 2023 年 11 月竣工试生产后，经过公司高效的投料试产、工艺拉 ...

湖北鼎龙控股股份有限公司 关于控股股东部分股份解除质押的公告 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。 湖北鼎龙控股股份有限公司（以下简称"公司"）于近日收到本公司控股股 东、共同实际控制人之一--朱顺全先生的函告，获悉朱顺全先生所持有本公司的 部分股份办理了解除质押的业务，具体事项如下： 二、控股股东股份累计质押的情况 截至本公告披露日，公司控股股东朱顺全先生及其一致行动人所持质押股份 情况如下： | | | | | | | | 已质押股份 | | | 未质押股份 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 情况 | | | 情况 | | | | | | 本次解 | 本次解 | 占其 | 占公 | 已质押 | | | | | | | 持股 | | 除质押 | 除质押 | | | | | | 未质押 | | | 股东 | 数量 | 持股 | 前质押 | 后质押 | 所持 | 司总 | 股份限 | 占 | 已 | ...

2024 年 06 月 30 日 公司研究●证券研究报告 鼎龙股份(300054.SZ) 公司快报 光电半导体业务放量,预计 24H1 业绩同比显著提升 事件点评 2024 年 6 月 25 日,鼎龙股份发布《2024 年半年度业绩预告》。2024H1,预计公司 归母净利润为 2.01 亿元-2.21 亿元,同比增长 110%-130%;预计扣非后净利润为 1.81 亿元-2.01 亿元,同比增长 166%-194%。2024Q2,预计公司归母净利润为 1.20 亿元 -1.39 亿元,环比增长 46.80%-70.31%;预计扣非后净利润为 1.15 亿元-1.35 亿元, 环比增长 75.38%-104.50%。 光电半导体业务占比超 40%,打印复印通用耗材业务稳步发展。(1)光电半导体: 受国内半导体及 OLED 显示面板行业下游稼动率以及公司产品市占率显著提升的 影响,公司光电半导体板块业务(含半导体材料业务及集成电路芯片设计和应用业 务)实现营业收入约 6.4 亿元(其中芯片业务收入已剔除内部抵消),营收占比从 2023 年的 32%持续提升至约 42%水平。其中:①CMP 抛光垫销售约 3.0 ...

鼎龙股份(300054.SZ) 优于大市 光电半导体业务占比提升,1H24 归母净利润同比高速增长 | 盈利预测和财务指标 | 2022 | 2023 | 2024E | 2025E | 2026E | | |------------------------|-----------|-------------|-------------|-------------|-------------|-----| | 营业收入(百万元) | 2,721 | 2,667 | 3,276 | 3,782 | 4,292 | | | (+/-%) | 15.5% | -2.0% | 22.8% | 15.4% | 13.5% | | | 净利润(百万元) | 390 | 222 | 443 | 601 | 734 | | | (+/-%) | 82.7% | -43.1% | 99.7% | 35.6% | 22.2% | | | 每股收益(元) | 0.41 | 0.23 | 0.47 | 0.64 | 0.78 | | | EBIT Margin | 15.0% | 9.9% | 16.7% | 20.8% | 22. ...

鼎龙股份(300054) 公司研究/公司点评 市占率持续提升,公司规模效应促进盈利能力高增 | 投资评级:买入(维持) | | 主要观点: | |-------------------------------|-------------|-------------| | 报告日期: 2024-06-26 | | ⚫ 事件 | | 收盘价(元) | 23.81 | | | 近 12 个月最高 / 最低(元) | 26.52/15.36 | | | 总股本(百万股) | 938 | | | 流通股本(百万股) | 728 | | | 流通股比例( % ) | 77.61 | | | 总市值(亿元) | 223 | | | 流通市值(亿元) | 173 | | | 公司价格与沪深 300 | 走势比较 | | -44% -29% -14% 1% 16% 6/23 9/23 12/23 3/24 鼎龙股份 沪深300 分析师:陈耀波 执业证书号:S0010523060001 邮箱:chenyaobo@hazq.com 相关报告 1.鼎龙股份:半导体材料 Q4 恢复良好,新 品验证进展顺利 2024-04-14 2.鼎 ...

2024年06月26日 电子 公 司 报 告 鼎龙股份(300054.SZ) 上半年利润同比高增,光电半导体业务占比持续提升 推荐 ( 维持) 股价:21.95元 事项: 公 司 事 项 点 评 主要数据 | 行业 | 电子 | |------------------------|-----------------| | 公司网址 | www.dl-kg.com | | 大股东 / 持股 | 朱双全 /14.72% | | 实际控制人 | 朱双全 , 朱顺全 | | 总股本 ( 百万股 ) | 938 | | 流通 A 股 ( 百万股 ) | 728 | | 流通 B/H 股 ( 百万股 ) | | | 总市值 ( 亿元 ) | 206 | | 流通 A 股市值 ( 亿元 ) | 160 | | 每股净资产 ( 元 ) | 4.66 | | 资产负债率 (%) | 29.6 | 行情走势图 | 投资咨询资格编号 | |--------------------------| | S1060523070002 | | XUBIYUN372@pingan.com.cn | | 投资咨询资格编号 | | S10605 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [3] Core Views - The company is expected to achieve significant growth in its 2024H1 performance, with a projected net profit of 201 million to 221 million yuan, representing a year-on-year increase of 110% to 130% [6] - The growth is attributed to the increased utilization rates in the domestic semiconductor and OLED display panel industries, as well as a notable rise in the company's market share [6] - The report maintains profit forecasts for 2024-2026, estimating net profits of 442 million, 622 million, and 888 million yuan respectively, with corresponding P/E ratios of 46.6, 33.1, and 23.2 times [6] Financial Performance Summary - For 2024H1, the company's CMP polishing pad products generated revenue of 300 million yuan, a year-on-year increase of 100.3% [7] - The CMP polishing liquid and cleaning liquid products achieved combined revenue of 77 million yuan in 2024H1, up 190.87% year-on-year [7] - The semiconductor display materials segment saw revenue of 168 million yuan in 2024H1, reflecting a year-on-year increase of 234.56% [7] - The company's general consumables for printing and copying maintained steady growth, with revenue of 880 million yuan in 2024H1, showing slight growth [8] Financial Forecasts - The company’s projected revenue for 2024 is 3.193 billion yuan, with a year-on-year growth of 19.7% [9] - The estimated gross profit margin for 2024 is 39.8%, with a net profit margin of 13.8% [9] - The report outlines a steady increase in retained earnings, with projections reaching 4.037 billion yuan by 2026 [11]

证券代码：300054 证券简称：鼎龙股份 公告编号：2024-059 湖北鼎龙控股股份有限公司 2024 年半年度业绩预告 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、本期业绩预计情况 1、业绩预告期间：2024年1月1日—2024年06月30日 | --- | --- | --- | |----------------|---------------------------------------|----------------------| | 项 目 | 本报告期 | 上年同期 | | 归属于上市公司 | 盈利： 20,133.06 万元– 22,050.50 万元 | | | 股东的净利润 | 比上年同期上升： 110% -130% | 盈利： 9,587.17 万元 | | 扣除非经常性损 | 盈利： 18,133.06 万元– 20,050.50 万元 | | | 益后的净利润 | 比上年同期上升： 166% -194% | 盈利： 6,813.86 万元 | 2、业绩预告情况：同向上升 说明：本公告中的"元"均指人民币元。 二、与会 ...

Investment Rating - The investment rating for the company is "Buy-A" [1][3]. Core Insights - The company has achieved significant growth in its CMP polishing pad sales, with a record monthly sales of over 20,000 pieces in May 2024. This growth is attributed to its comprehensive product line and strong customer relationships [1]. - The company has successfully achieved self-sufficiency in the three core raw materials for CMP polishing pads, enhancing its supply chain control and competitive edge [1]. - Revenue projections for 2024 to 2026 have been adjusted upwards, with expected revenues of 32.18 billion, 38.19 billion, and 44.61 billion yuan, reflecting growth rates of 20.7%, 18.7%, and 16.8% respectively [3][4]. Summary by Sections Company Overview - The company is the only domestic supplier with full control over the R&D and manufacturing of CMP polishing pads, covering both hard and soft pads [1]. - The successful mass production of CMP polishing hard pads at its Wuhan facility has allowed the company to penetrate mainstream customer markets [1]. Financial Performance - The company reported a revenue of 2,721 million yuan in 2022, with a projected increase to 3,218 million yuan in 2024, representing a year-on-year growth of 20.7% [4]. - The net profit attributable to the parent company is expected to rise from 390 million yuan in 2022 to 441 million yuan in 2024, with a growth rate of 98.6% [4]. Market Position - The company is positioned as a primary supplier of CMP polishing pads to several core wafer manufacturers in China, with expectations for deeper market penetration and expansion into overseas markets [3][4]. - The demand for semiconductor wafers is expected to continue growing, driven by advancements in AI, 5G communication, and other high-performance applications, which will benefit the CMP polishing materials industry [1]. Production Capacity - The company has established a robust production capacity, with the Wuhan facility capable of producing 400,000 hard pads annually and the Qianjiang facility producing 200,000 soft pads [1]. - The company is also expanding its production capabilities for microspheres, which are critical for polishing pad performance, with plans for a new production line expected to yield 50 tons annually [1]. Valuation Metrics - The projected P/E ratios for the company are 49.8, 35.9, and 28.0 for the years 2024, 2025, and 2026 respectively, indicating a favorable valuation outlook as earnings grow [4]. - The gross margin is expected to improve from 38.1% in 2022 to 43.9% by 2026, reflecting operational efficiencies and product mix enhancements [4].