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鼎龙股份:半导体显示材料多点开花,平台公司日臻完善
GOLDEN SUN SECURITIES· 2024-10-25 12:14
Investment Rating - The report maintains a "Buy" rating for the company [2][4]. Core Views - The company reported strong performance in Q3 2024, with revenue of 9.07 billion yuan, a year-on-year increase of 27% and a quarter-on-quarter increase of 12% [1]. - The revenue for the first three quarters of 2024 reached 24.26 billion yuan, representing a 30% year-on-year growth, while the net profit attributable to shareholders was 3.76 billion yuan, up 114% year-on-year [1]. - The company is focusing on semiconductor and new display sectors, with significant growth potential in high-performance PI and photoresist products [2]. Financial Performance Summary - Revenue for 2024 is projected to be 34.67 billion yuan, with a year-on-year growth rate of 30% [3]. - The net profit attributable to shareholders is expected to reach 5.46 billion yuan in 2024, reflecting a growth rate of 146.2% year-on-year [3]. - The company’s earnings per share (EPS) is forecasted to be 0.58 yuan in 2024, increasing to 1.04 yuan by 2026 [3][11]. Revenue Breakdown - The revenue from CMP polishing pads for the first three quarters of 2024 was 5.23 billion yuan, a 95% increase year-on-year [1]. - Revenue from polishing liquids and cleaning liquids reached 1.40 billion yuan, up 190% year-on-year [1]. - Display materials generated 2.82 billion yuan in revenue, marking a 168% increase year-on-year [1]. Market Position - The company is the only domestic supplier with comprehensive core R&D and manufacturing capabilities for polishing pads, achieving record monthly shipments [1]. - The market share for the company's products continues to rise, with significant penetration into major domestic wafer manufacturers [1].
鼎龙股份:新材料业务持续高增,战略转型后劲充足
申万宏源· 2024-10-25 06:55
Investment Rating - The report maintains an "Outperform" rating for the company [5] Core Views - The company reported a revenue of 2.426 billion yuan for Q3 2024, representing a year-over-year increase of 30%, and a net profit of 376 million yuan, up 114% year-over-year [5] - The company has successfully transitioned to a new strategic phase, with significant growth in its semiconductor materials and electronic materials segments [5] - The report forecasts net profits for 2024, 2025, and 2026 to be 516 million yuan, 666 million yuan, and 965 million yuan respectively, indicating strong future growth potential [5][6] Summary by Sections Market Data - Closing price as of October 24, 2024: 27.59 yuan - Market capitalization: 20,090 million yuan - Price-to-book ratio: 6.2 [2][3] Financial Data - As of September 30, 2024, the company had a net asset value per share of 4.63 yuan and a debt-to-asset ratio of 34.79% [3] - The company achieved a gross margin of 48.57% in Q3 2024, with a net margin of 20.49% [5] Revenue and Profit Forecast - Projected total revenue for 2024 is 3.393 billion yuan, with a year-over-year growth rate of 27.2% [6] - The company expects to achieve a gross margin of 41.8% in 2024, improving to 44.8% by 2026 [6][7] Business Segments - The polishing pad business achieved sales of 5.23 billion yuan, with a year-over-year increase of 95% [5] - The semiconductor materials and integrated circuit design business generated revenue of 1.086 billion yuan, up 93% year-over-year, increasing its revenue share from 32% in 2023 to 45% in 2024 [5]
鼎龙股份:前三季度净利润3.76亿元 同比增长113.51%
Cai Lian She· 2024-10-24 11:20AI Processing
鼎龙股份:前三季度净利润3.76亿元 同比增长113.51% 财联社10月24日电,鼎龙股份发布2024年第三季 度报告,前三季度实现营业收入24.26亿元,同比增长29.54%;归属于上市公司股东的净利润3.76亿 元,同比增长113.51%。 其中,第三季度实现营业收入9.07亿元,同比增长27.17%;归属于上市公司股东的净利润1.58亿元,同 比增长97.15%。 查看公告原文 ...
鼎龙股份:关于预计新增日常关联交易的公告
2024-10-24 11:14
证券代码:300054 证券简称:鼎龙股份 公告编号:2024-077 湖北鼎龙控股股份有限公司 关于预计新增日常关联交易的公告 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。 一、日常关联交易基本情况 (一)日常关联交易概述 1、交易内容:根据湖北鼎龙控股股份有限公司(以下简称"公司")半导 体工艺材料业务发展需要,为提升公司CMP抛光垫产品的配套服务水平,加速公 司半导体工艺材料业务的市场开拓,预计公司控股子公司湖北鼎汇微电子材料有 限公司(以下简称"鼎汇微电子")拟与关联方武汉市汇达材料科技有限公司(以 下简称"武汉汇达")按照市场定价相互发生采购、销售产品、商品类的日常关 联交易,交易金额合计不超过1,300万元人民币,期限为自董事会决议通过之日起 一年内有效。 2、关联交易续期说明:公司于2023年10月24日召开第五届董事会第十三次 会议和第五届监事会第十三次会议,审议通过《关于预计新增日常关联交易的议 案》,预计鼎汇微电子与武汉汇达发生日常关联交易金额合计不超过1,600万元人 民币,期限为自董事会决议通过之日起一年内有效。公司本次拟与关联方武 ...
鼎龙股份(300054) - 2024 Q3 - 季度财报
2024-10-24 11:14
Financial Performance - The company's operating revenue for Q3 2024 reached ¥906,918,128.11, an increase of 27.17% compared to the same period last year[3] - Net profit attributable to shareholders was ¥158,482,197.99, reflecting a significant increase of 97.15% year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥146,704,786.75, up 139.28% from the previous year[3] - In the first three quarters of 2024, the company achieved operating revenue of RMB 2.426 billion, a year-on-year increase of 29.54%, and a net profit attributable to shareholders of RMB 376 million, up 113.51% compared to the same period last year[14] - The net profit for the third quarter of 2024 reached CNY 472,123,311.75, a significant increase from CNY 219,154,386.38 in the same period last year, representing a growth of approximately 115.5%[23] - Operating profit for the quarter was CNY 531,061,117.28, compared to CNY 234,166,639.63 in the previous year, indicating an increase of approximately 126.5%[23] - Total comprehensive income for the quarter was CNY 472,551,925.73, compared to CNY 218,816,087.45 in the same quarter last year, marking a growth of around 116.5%[24] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥7,215,921,839.03, representing a growth of 7.57% compared to the end of the previous year[4] - Current assets as of September 30, 2024, totaled ¥2,916,321,761.03, compared to ¥2,827,254,429.52 at the end of 2023, reflecting a growth of approximately 3.15%[20] - Non-current assets increased to ¥4,299,600,078.00 from ¥3,880,647,420.93, marking an increase of about 10.8%[20] - Total liabilities rose to ¥2,510,554,169.47 from ¥1,831,966,197.12, representing an increase of about 37.0%[21] - Long-term borrowings increased to ¥772,909,492.50 from ¥561,059,665.65, indicating a rise of approximately 37.6%[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,153[9] - Major shareholders include Zhu Shuangquan with 14.84% and Zhu Shunquan with 14.71% of shares, both having pledged a portion of their holdings[9] - The total number of shares held by the top ten shareholders accounts for 56.07% of the total share capital[10] - Zhu Shunquan has pledged 7,660,000 shares as of the report date[10] - The company maintains a high level of shareholding concentration among its top shareholders[11] - The report indicates that the major shareholders are brothers and jointly control the company[10] Research and Development - The company's R&D investment reached RMB 336 million, a 21% increase year-on-year, constituting 13.85% of operating revenue, supporting the development of innovative materials and technologies[14] - Research and development expenses increased to CNY 335,928,230.29, up from CNY 277,150,813.89, reflecting a growth of about 21.1% year-over-year[23] Revenue Breakdown - The semiconductor business generated a revenue of RMB 1.086 billion in the first three quarters, representing a 93% year-on-year growth, and accounted for 45% of the company's total revenue, up from 32% in 2023[14] - CMP polishing pad sales revenue for the first three quarters was RMB 523 million, a 95% year-on-year increase, with Q3 sales reaching RMB 225 million, up 90% year-on-year[15] - CMP polishing liquid and cleaning liquid sales revenue for the first three quarters was RMB 140 million, a 190% year-on-year increase, with Q3 sales reaching RMB 63.59 million, up 191% year-on-year[16] - The semiconductor display materials segment generated RMB 282 million in revenue in the first three quarters, a 168% year-on-year increase, with Q3 revenue of RMB 115 million, up 110% year-on-year[16] Financial Activities - The company's cash and cash equivalents decreased to ¥1,084,923,606.39 from ¥1,119,963,370.91, a decline of approximately 3.1%[20] - Inventory levels increased to ¥546,055,251.73 from ¥499,057,893.25, reflecting a growth of about 9.4%[20] - The company's retained earnings grew to ¥1,958,582,642.52 from ¥1,582,259,991.66, an increase of about 24.0%[21] - Cash flow from operating activities generated CNY 608,590,807.78, an increase from CNY 363,403,736.52 in the previous year, representing a growth of approximately 67.5%[26] - The basic and diluted earnings per share for the quarter were both CNY 0.40, up from CNY 0.19 in the same period last year, indicating a growth of approximately 110.5%[24] Future Outlook and Strategic Changes - The company plans to issue convertible bonds to raise up to RMB 920 million to support projects including the annual production of 300 tons of KrF/ArF photoresist and the localization of key raw materials for optoelectronic semiconductor materials[17] - The company has changed its industry classification from "C26 Chemical Raw Materials and Chemical Products Manufacturing" to "C39 Computer, Communication and Other Electronic Equipment Manufacturing - C398 Electronic Components and Electronic Special Materials Manufacturing" to reflect its focus on semiconductor materials[18] - The report does not provide specific future outlook or performance guidance[12] - There are no indications of market expansion or mergers and acquisitions mentioned in the report[12] - The company has not disclosed any new product developments or technological advancements in this report[12] Financial Expenses - The financial expenses increased by 397.01% to ¥17,726,949.95, primarily due to increased interest expenses on bank loans[7] - The company's financial expenses included interest expenses of CNY 21,775,145.21, which increased from CNY 14,215,897.60, reflecting a rise of about 53.4% year-over-year[23]
鼎龙股份:第五届监事会第二十二次会议决议公告
2024-10-24 11:14
本公司及监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、监事会会议召开情况 湖北鼎龙控股股份有限公司(以下简称"公司")第五届监事会第二十二次 会议于 2024 年 10 月 24 日在湖北省武汉市经济技术开发区东荆河路 1 号公司 907 会议室以现场结合通讯表决方式召开,会议应到监事 3 人,实到监事 3 人。董事 会秘书列席了本次会议。本次会议通知于 2024 年 10 月 18 日以电话或电子邮件 形式送达,会议的通知和召开符合《公司法》与《公司章程》的规定。会议由监 事会主席刘海云先生主持。 二、监事会会议审议情况 经与会监事认真审议,会议决议如下: 证券代码:300054 证券简称:鼎龙股份 公告编号:2024-076 湖北鼎龙控股股份有限公司 第五届监事会第二十二次会议决议公告 经审核,监事会认为:本次新增日常关联交易是基于公司日常经营所需,关 联交易定价合理公允,遵循了公平、自愿、合理的原则,不存在损害公司及公司 股东特别是中小股东利益的情形,符合中国证监会和深交所的有关规定。公司主 要业务不会因上述关联交易事项而对关联人形成依赖,本次日常关联交 ...
鼎龙股份:第五届董事会第二十二次会议决议公告
2024-10-24 11:14
证券代码:300054 证券简称:鼎龙股份 公告编号:2024-075 湖北鼎龙控股股份有限公司 第五届董事会第二十二次会议决议公告 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。 一、董事会会议召开情况 湖北鼎龙控股股份有限公司(以下简称"公司")第五届董事会第二十二 次会议于 2024 年 10 月 24 日在武汉市经济技术开发区东荆河路 1 号公司 907 会 议室以现场结合通讯表决方式召开。会议应到董事 9 人,实到董事 9 人。符合 公司章程规定的法定人数。本次会议通知于 2024 年 10 月 18 日以电话或电子邮 件形式送达,公司部分高级管理人员列席了会议,会议的通知和召开符合《公 司法》与《公司章程》的规定,会议由董事长朱双全先生主持。 二、董事会会议审议情况 经与会董事认真审议,通过了以下决议: (一)审议通过了《2024 年第三季度报告》 该议案的董事会表决结果为: 赞成9票,反对0票,弃权0票。 (二)审议通过了《关于预计新增日常关联交易的议案》 1、交易内容:根据公司半导体工艺材料业务发展需要,为提升公司CMP 抛光垫产品的配套服务 ...
鼎龙股份:CMP抛光垫销量突破,材料平台持续高增
Huaan Securities· 2024-10-11 03:37
Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has reported a significant increase in CMP polishing pad sales, with monthly sales surpassing 30,000 pieces for the first time [1] - The semiconductor materials business has shown strong growth, achieving revenue of approximately 1.089 billion yuan, a year-on-year increase of 88% [1] - The company has adjusted its profit forecasts for 2024-2026, now expecting net profits of 529 million yuan, 710 million yuan, and 1.039 billion yuan respectively [1][2] Financial Performance Summary - For the first three quarters of 2024, the company expects total revenue of approximately 2.410 billion yuan, with Q3 revenue around 892 million yuan, reflecting a 10% quarter-on-quarter growth [1] - The projected revenue for 2024 is 3.386 billion yuan, representing a 27% year-on-year increase [2] - The expected net profit for 2024 is 529 million yuan, with a significant year-on-year growth of 138.2% [2][4] Revenue Breakdown - CMP polishing pads generated sales of approximately 524 million yuan in Q3, a 95% year-on-year increase, with Q3 sales reaching 226 million yuan, up 39% quarter-on-quarter [1] - The semiconductor display materials business achieved sales of approximately 282 million yuan, a year-on-year increase of 162% [1] - The general consumables business is expected to generate approximately 1.321 billion yuan in revenue, showing slight growth [1] Profitability Metrics - The gross margin is projected to improve from 36.9% in 2023 to 51.6% by 2026 [2][4] - The return on equity (ROE) is expected to rise from 5.0% in 2023 to 15.7% in 2026 [2][4] - The earnings per share (EPS) is projected to increase from 0.24 yuan in 2023 to 1.11 yuan in 2026 [2][4]
鼎龙股份:关于公司所属行业变更的公告
2024-10-10 08:41
证券代码:300054 证券简称:鼎龙股份 公告编号:2024-073 湖北鼎龙控股股份有限公司 关于公司所属行业变更的公告 特此公告。 湖北鼎龙控股股份有限公司董事会 2024 年 10 月 11 日 目前,半导体材料及芯片业务已成为公司重要业绩来源。2023 年度,公司光 电半导体材料及芯片业务:其营业收入占公司总营业收入的比例为 32.12%,其 毛利润占公司总毛利润的比例为 53.44%。同时,该业务板块的上述比重占比, 在 2024 年前三个季度持续同比、环比提升中。按照《中国上市公司协会上市公 司行业统计分类指引》的相关规定,经公司申请,并由上市公司行业分类专家委 员会确认,公司行业类别由原行业分类"C26 化学原料和化学制品制造业",变 更调整为"C39 计算机、通信和其他电子设备制造业——C398 电子元件及电子 专用材料制造"。 截至本公告披露日,公司已正式启用新行业分类。上述行业类别调整,标志 着公司已成功实现战略转型,并将迎来新的发展阶段。公司半导体新材料业务将 成为驱动公司主营业务收入及利润双增长的重要动力。 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 ...
鼎龙股份:公司信息更新报告:2024Q3业绩持续高增长,新材料平台公司成型
KAIYUAN SECURITIES· 2024-10-09 14:30
Investment Rating - The investment rating for the company is "Buy" (maintained) [3][5] Core Insights - The company is expected to achieve a significant year-on-year increase in net profit for Q1-Q3 2024, with estimates ranging from 367 million to 379 million yuan, representing a growth of 108% to 115% [5] - The semiconductor business is projected to account for 45% of total revenue, contributing to the overall profit growth [5] - The company maintains its profit forecast for 2024-2026, with expected net profits of 442 million, 622 million, and 888 million yuan respectively, indicating a strong long-term outlook for its semiconductor materials [5] Financial Performance Summary - For Q1-Q3 2024, the company anticipates a net profit of 149 million to 161 million yuan for Q3, reflecting a year-on-year increase of 85% to 100% and a quarter-on-quarter increase of 9% to 18% [5] - The company's CMP polishing pads generated approximately 524 million yuan in revenue for Q1-Q3 2024, marking a 95% increase year-on-year, with Q3 alone contributing 226 million yuan, a 90% increase year-on-year and a 39% increase quarter-on-quarter [6] - The total revenue for the company's general printing and copying consumables for Q1-Q3 2024 was approximately 1.321 billion yuan, showing slight growth year-on-year [6] - The company’s revenue projections for 2024-2026 indicate a recovery and growth trajectory, with expected revenues of 3.193 billion, 3.798 billion, and 4.678 billion yuan respectively, reflecting year-on-year growth rates of 19.7%, 18.9%, and 23.2% [7][8]