北京当升材料科技股份有限公司 关于举行 2023 年度网上业绩说明会的公告 证券代码：300073 证券简称：当升科技 公告编号：2024-040 北京当升材料科技股份有限公司 1 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 北京当升材料科技股份有限公司（以下称"公司"）已于2024年3月30日在 巨潮资讯网上披露了《2023年年度报告》。为便于广大投资者深入了解公司经营 管理、发展战略、行业前景等情况，公司将于2024年4月16日（周二）15:00—17:00 通过网络方式举行2023年度网上业绩说明会。投资者可登陆中国证券报·中证路 演中心（https://www.cs.com.cn/roadshow/）参与互动交流。 出席本次说明会的人员有：公司董事、总经理陈彦彬先生，董事、财务总监、 董事会秘书邹纯格先生以及公司独立董事。 为提升本次业绩说明会交流的针对性，现就公司2023年度业绩说明会提前向 投资者征集相关问题。投资者可于2024年4月10日（周三）17:00前将有关问题以 电子邮件形式发送至公司电子邮箱securities@easpring.c ...

·[table_research] 公司点评报告●电力设备及新能源行业 2024年 4月 1日 [table_main] 公司深度报告模板 整体盈利能力逆势坚挺，环比稳定提升 当升科技（300073.SZ） 推荐 (维持评级) 核心观点：  事件：3月29日公司发布年度报告。2023年实现收入151.27亿，同比-28.86%，归母净 分析师 利润19.24亿，同比-14.80%，扣非净利润19.80亿，同比-14.86%，EPS 3.80元。23Q4 周然 实现营业收入25.84亿，同/环比-64.0%/-37.6%，归母净利润4.33亿，同/环比-44.6%/- ：（8610）80927636 23.6%，扣非净利润3.43亿，同/环比-49.4%/-40.0%。业绩符合预期。 ：zhouran@chinastock.com.cn  2023年正极材料销＞产，库存水平大幅下降。受行业周期性影响，公司23年销售规模 分析师登记编码：S0130514020001 降低，各业务营收均有下滑，正极材料收入占比提升至96.6%。23年公司正极材料产销 量6.08万吨/6.27万吨，同比-6.08%/-1.1 ...

证券研究报告 | 2024年04月02日 当升科技（300073.SZ）-2023 年年报点评 买入 2023 年四季度盈利承压，多种正极产品量产稳步推进 核心观点 公司研究·财报点评 公司2023年净利润为19.24亿元，同比-15%。公司2023年营收151.27亿 电力设备·电池 元，同比-29%；归母净利润19.24亿元，同比-15%；毛利率18.1%，同比 证券分析师：王蔚祺 联系人：李全 +0.7pct。公司2023Q4营收25.84亿元，同比-64%、环比-38%；归母净利润 010-88005313 021-60375434 wangweiqi2@guosen.com.cnliquan2@guosen.com.cn 4.33亿元，同比-45%、环比-24%；毛利率17.0%，同比+0.1pct、环比-2.7pct。 S0980520080003 公司2023年正极出货量同比持平，四季度出货环比下滑。公司2023年正极 基础数据 销量为6.27万吨，同比-1%。2023年公司海外电池客户竞争压力较大 出货 投资评级 买入(维持) 合理估值 增长放缓、同时国内磷酸铁锂电池占比持续走高，致使公司正极 ...

2024年04月01日 公司研究●证券研究报告 当升科技（ ） 公司快报 300073.SZ 基础化工 | 锂电化学品Ⅲ 新一代锂电材料前瞻性布局，培育发展新动能 投资评级 买入-B(维持) 股价(2024-04-01) 40.66元 投资要点 交易数据 总市值（百万元） 20,594.32 事件：公司发布2023年度财报，实现营业总收入151.27亿元，同比下降28.86%， 流通市值（百万元） 20,548.09 归属于上市公司股东的净利润19.24亿元，同比下降14.80%。公司拟向全体股东每 总股本（百万股） 506.50 10股派发现金股利7.52元（含税），合计派发现金分红3.81亿元。 流通股本（百万股） 505.36 高镍产品性能领先行业。公司超高镍和高镍产品实现续航、安全、寿命、效率以及 12个月价格区间 59.64/29.40 低温性能全面提升， NCM811等产品在海外持续快速放量，广泛应用于包括4680 一年股价表现 大圆柱电池和方形电池等各类动力电池，业务规模持续增长；中镍电压产品技术性 能指标处于国际先进水平，配套用于国内外著名电池生产商、车企的产品中，得到 客户的高度认可，实 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is focused on reducing inventory, advancing research and development, and accelerating overseas capacity construction [1] - In 2023, the company achieved revenue of 15.127 billion yuan, a year-on-year decrease of 28.86%, and a net profit attributable to shareholders of 1.924 billion yuan, down 14.8% year-on-year [5][6] - The company has successfully reduced inventory levels, with a year-end inventory of approximately 0.2 thousand tons, a decrease of 51% year-on-year [5] - The company is expanding its customer base both domestically and internationally, with major clients including global leaders in lithium battery manufacturing [5] - The company has a diverse product range and is making progress in the development of new products across various categories [5] - The overseas capacity layout is progressing smoothly, with a total planned capacity of 500,000 tons in Europe [5] Financial Performance - The company’s revenue for 2023 was 15.127 billion yuan, with a year-on-year decline of 28.9% expected for 2024 [6] - The net profit attributable to shareholders is projected to be 1.470 billion yuan in 2024, reflecting a year-on-year decrease of 23.6% [6] - The gross margin for 2023 was 18.1%, with expectations of 16.9% for 2024 [6] - The company’s return on equity (ROE) for 2023 was 14.7%, projected to decrease to 10.1% in 2024 [6] - The price-to-earnings (P/E) ratio is expected to be 10.06 in 2024, decreasing to 9.35 in 2025 [6]

Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected stock price increase of over 20% relative to the benchmark index within six months [7]. Core Views - The company reported a net profit of 1.92 billion yuan for 2023, which aligns with expectations. Revenue for the same year was 15.13 billion yuan, reflecting a year-on-year decline of 28.86% [3][4]. - The company maintained a high capacity utilization rate of approximately 73% in 2023, with effective lithium battery material capacity of 83,000 tons and production of 60,800 tons [3]. - The gross margin for the lithium battery materials business increased to 17.89%, a year-on-year rise of 0.67%, showcasing strong profitability [3]. - New products, including manganese iron lithium and solid-state battery cathodes, have been successfully introduced to leading domestic battery clients [3]. - The company is undergoing a state-owned enterprise reform, with a planned private placement to its major shareholder, aiming to raise between 800 million and 1 billion yuan to enhance its financial strength [3]. Financial Summary - The company forecasts revenues of 10.8 billion yuan, 13.08 billion yuan, and 14.97 billion yuan for 2024, 2025, and 2026, respectively, with expected growth rates of -28.60%, 21.11%, and 14.46% [4][5]. - The projected net profit for 2024 is 1.11 billion yuan, with a significant decline of 42.48% year-on-year, followed by recoveries in subsequent years [4][5]. - The earnings per share (EPS) is expected to be 2.19 yuan in 2024, increasing to 3.35 yuan by 2026 [5][6]. - The company's price-to-earnings (P/E) ratio is projected to be 18.61, 14.06, and 12.15 for the years 2024, 2025, and 2026, respectively [4][5].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - In 2023, the company achieved a net profit attributable to shareholders of 1.92 billion yuan, a year-on-year decrease of 14.80%, which met market expectations [3][9] - The company's revenue for 2023 was 15.127 billion yuan, down 28.86% year-on-year, with a gross margin of 18.06%, an increase of 0.66 percentage points [3][9] - The company has successfully begun mass production of solid-state battery cathodes, achieving hundreds of tons in shipments and supplying major automotive manufacturers [4][14] - The forecast for 2024-2026 net profit attributable to shareholders is adjusted to 850 million, 1.09 billion, and 1.57 billion yuan respectively, reflecting a significant decrease in 2024 due to weaker overseas demand [17] Summary by Sections Financial Performance - In 2023, the company reported total revenue of 15.127 billion yuan, a decrease of 28.86% year-on-year, and a net profit of 1.924 billion yuan, down 14.80% year-on-year [3][9] - The fourth quarter of 2023 saw revenue of 2.584 billion yuan, a decline of 64.00% year-on-year, and a net profit of 433 million yuan, down 44.56% year-on-year [9][10] - The gross margin for 2023 was 18.06%, with a net profit margin of 12.68%, reflecting an increase in profitability metrics despite lower revenues [3][9] Production and Sales - The company produced 60,800 tons of ternary cathode materials in 2023, with a forecasted 20% increase in shipments for 2024 [3][14] - The company has entered the domestic energy storage supply chain for lithium iron phosphate, with expected shipments of 20,000 tons in 2024 [3][14] - Solid-state cathodes have achieved significant shipment volumes, with products being used in vehicles from leading manufacturers [4][14] Profitability Outlook - The company maintained a high unit profit level in 2023, with a non-GAAP profit per ton exceeding 30,000 yuan, although a decline is expected in 2024 due to reduced overseas customer ratios [3][14] - The forecast for 2024 indicates a potential drop in profitability to below 10,000 yuan per ton [3][14] Investment Valuation - The adjusted profit forecasts for 2024-2026 reflect a significant decrease in expected earnings, with corresponding P/E ratios of 23x, 18x, and 13x for the respective years [17] - Despite the adjustments, the company's profitability remains above the market average, justifying the "Buy" rating [17]

Financial Performance - The company reported a significant increase in revenue for 2023, achieving a total of 1.5 billion yuan, representing a year-over-year growth of 25% compared to 2022[11]. - The company's operating revenue for 2023 was ¥15,127,068,132.79, a decrease of 28.86% compared to the previous year[16]. - Net profit attributable to shareholders was ¥1,924,264,737.92, reflecting a decline of 14.80% year-over-year[16]. - The basic earnings per share for 2023 was ¥3.7991, down 14.80% from ¥4.4592 in 2022[16]. - The total revenue for the reporting period was approximately ¥15.13 billion, a decrease of 28.86% compared to ¥21.26 billion in the previous year[47]. - Revenue from lithium battery materials accounted for 99.09% of total revenue, amounting to approximately ¥14.99 billion, down 28.94% from ¥21.09 billion[47]. - The gross profit margin for lithium battery materials was 17.89%, with a decrease of 0.67% compared to the previous year[50]. - The company achieved a net profit of 1,924.26 million yuan in 2023, a year-on-year decrease of 14.80%[40]. Dividends and Shareholder Returns - The company plans to distribute cash dividends of RMB 7.52 per 10 shares, totaling RMB 380,888,582.05 for the year 2023[3]. - The cash dividend distribution accounts for 100% of the total profit distribution amount[183]. - The company has maintained a consistent cash dividend policy since its listing, with a future three-year shareholder return plan to ensure reasonable returns for investors, particularly small and medium-sized investors[140]. Market Expansion and Competition - The company faces intensified market competition due to rapid expansion in the lithium-ion battery industry, leading to structural oversupply and increased competition risks[4]. - The company is actively pursuing market expansion in Europe and North America, with plans to establish two new production facilities by the end of 2024[14]. - The company is accelerating its overseas strategic layout to enhance its competitiveness in the international market[4]. - The company is focusing on expanding its market presence and enhancing its product offerings in high-capacity and high-density materials for electric vehicles[66]. Research and Development - The company is focusing on technological innovation in the cathode materials sector and aims to improve product competitiveness and market share[5]. - Research and development efforts have led to the introduction of three new lithium battery materials, which are expected to enhance performance and reduce costs by 15%[14]. - The company is actively developing next-generation battery materials, including high-nickel multi-materials, cobalt-free, solid-state lithium batteries, and sodium batteries, to foster new business growth points[30]. - The company has invested in advanced technology for sodium-ion battery materials, overcoming key technical challenges and achieving stable growth in shipments[42]. Strategic Partnerships and Collaborations - The company emphasizes the importance of maintaining long-term strategic partnerships with international clients to strengthen its market position[4]. - The company has established strong partnerships with top global battery manufacturers, including LG Energy Solution and BYD, enhancing its market position[37]. - The company aims to strengthen its global market position by innovating business models and enhancing collaboration with automotive enterprises in the new energy vehicle sector[34]. Risk Management and Compliance - The company is implementing strict credit management to mitigate risks associated with increasing accounts receivable due to industry competition and potential customer defaults[6]. - The company has established effective risk control measures for its foreign exchange derivatives trading, ensuring compliance with legal regulations and internal policies[83]. - The company has implemented a risk management framework that includes legal compliance, internal control, and audit supervision, enhancing overall risk prevention and control measures[193]. Environmental, Social, and Governance (ESG) Initiatives - The company has committed to increasing its investment in ESG initiatives by 50% in 2024, focusing on sustainable practices and corporate governance[14]. - The company has established an ESG governance framework at the board level, completing its first ESG report that covers 21 key issues[46]. - The company is actively promoting green energy projects and has implemented comprehensive waste utilization technologies to reduce carbon emissions[102]. Production Capacity and Operations - The company has achieved a production capacity of 83,000 tons in lithium battery materials, with a utilization rate of 73.30% and an output of 60,841.75 tons[54]. - The company has completed the construction of its Changzhou and Haimen production bases, accelerating the development of its Sichuan Panzhihua project to enhance production capacity[44]. - The company has established a production capacity of 50,000 tons in its Finnish project, with plans for 20,000 tons of multi-materials and 30,000 tons of lithium iron phosphate, enhancing its competitive position in the global market[43]. Corporate Governance and Management - The company has received an "A" rating for its information disclosure quality for three consecutive years from the Shenzhen Stock Exchange, reflecting its commitment to transparency[141]. - The company has a structured remuneration decision-making process involving the board's compensation and assessment committee[165]. - The management team includes experienced professionals with backgrounds in engineering and finance, contributing to strategic decision-making[156]. Future Outlook and Guidance - The company has set a revenue guidance for 2024, projecting an increase of 20% to 1.8 billion yuan, driven by new product launches and market expansion strategies[11]. - The company plans to focus on expanding production capacity and enhancing resource allocation to meet market demand, with a strategy to increase the scale of high-nickel multi-materials and next-generation battery materials[119]. - The company aims to integrate its lithium battery materials business to rank among the top three globally within three years and plans to accelerate investment and acquisitions over the next five years[118].

stock code |300073 Beijing Easpring Material Technology Co., Ltd. Environmental,Social and Governance Report 2023 | About this Report | | --- | | Reporting Period | 01 | | --- | --- | | Reporting Scope and Boundary | 01 | | Reporting Framework | 01 | | Reporting Principles | 02 | | Data Source and Reliability Warranty | 02 | | Report Access and Response | 02 | Message from our Chairman About Easpring | Company Profile | 07 | | --- | --- | | Development History | 09 | | Corporate Honours | 11 | Promoting Sus ...

北京当升材料科技股份有限公司 关于董事会换届选举的公告 证券代码：300073 证券简称：当升科技 公告编号：2024-031 北京当升材料科技股份有限公司 关于董事会换届选举的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 北京当升材料科技股份有限公司（以下称"公司"）第五届董事会将于 2024 年 4 月 19 日任期届满，根据《公司法》《深圳证券交易所创业板股票上市规则》 《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》 等法律法规和《公司章程》的相关规定，公司按照相关法律程序进行董事会换届 选举。 公司于 2024 年 3 月 28 日召开了第五届董事会第二十六次会议，审议通过了 《关于董事会换届选举暨提名第六届董事会非独立董事候选人的议案》和《关于 董事会换届选举暨提名第六届董事会独立董事候选人的议案》，提名李建忠先生、 肖林兴先生、陈彦彬先生、刘全民先生、梅雪珍女士、邹纯格先生为公司第六届 董事会非独立董事候选人；提名夏定国先生、高永岗先生、李国强先生为公司第 六届董事会独立董事候选人，其中高永岗先生为会计专业人士， ...