| | 2024 年 | 2023 年 | 本年比上年增减 | 2022 年 | | --- | --- | --- | --- | --- | | 营业收入(元) | 1,797,491,094.52 | 1.742.945,953.02 | 3. 13% | 1,401,971,503.83 | | 归属于上市公司股东 | -267, 170, 910. 35 | -224,007, 511. 01 | -19. 27% | -225, 628, 606, 99 | | 的净利润(元) | | | | | | 归属于上市公司股东 的扣除非经常性损益 | -417, 475, 609, 88 | -333, 286, 430, 95 | -25. 26% | -244, 445, 588, 79 | | 的净利润(元) | | | | | | 经营活动产生的现金 流量净额(元) | -323, 722, 459. 50 | -181, 375, 998. 95 | -78. 48% | 109,327,231.90 | | 基本每股收益(元/ | -0. 2082 | -0. 1985 | -4. 89% ...

4月28日晚间，锦富技术（300128）发布2025年一季报，公司一季度实现营业收入4.51亿元，同比增长 16.5%。 锦富技术主要从事电子产品精密部件、液晶显示模组(LCM和BLU)、智能检测及自动化装备的研发、加 工制造、销售与技术服务，产品广泛应用于消费电子、汽车、医疗、新能源等多个产业领域。近年来， 公司积极推进业务向高技术、高附加值的产业转型，在热管理材料、精细化工材料等领域取得显著进 展。 在热管理材料方面，锦富技术石墨烯电热膜产品已经进入吉利、上汽、比亚迪（002594）、通用、小米 等头部客户供应链，为新能源汽车提供座椅及座舱加热解决方案；公司自主研发的低电导率冷却剂超级 浓缩液已在国内某新能源头部车企完成路试验证，性能优异，该产品能够有效提升新能源汽车冷却系统 的安全性和能效。 除适配新能源汽车外，锦富技术针对数据中心及储能电池领域的冷却液产品也在市场推广中；此外，公 司气凝胶材料作为宁德时代（300750）动力电池隔热方案的主要供应商产品，已批量应用，并延伸至航 空航天等领域。 随着消费者对电子产品性能要求的提升和新能源汽车产业的快速发展，市场对高效、可靠的热管理材料 需求日益旺盛。根据 ...

Financial Performance - The company reported a significant loss for the fiscal year, with specific reasons and improvement measures detailed in the management discussion section[4]. - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[5]. - The company's operating revenue for 2024 was CNY 1,797,491,094.52, representing a 3.13% increase compared to CNY 1,742,945,953.02 in 2023[22]. - The net profit attributable to shareholders was a loss of CNY 267,170,910.35 in 2024, which is a 19.27% increase in loss from CNY 224,007,511.01 in 2023[22]. - The cash flow from operating activities showed a net outflow of CNY 323,722,459.50, a significant decline of 78.48% from CNY -181,375,998.95 in the previous year[22]. - The total assets at the end of 2024 were CNY 3,219,162,137.93, down 18.11% from CNY 3,931,061,272.55 at the end of 2023[22]. - The net assets attributable to shareholders decreased by 32.44% to CNY 785,885,586.07 in 2024 from CNY 1,163,262,525.58 in 2023[22]. - The basic and diluted earnings per share for 2024 were both CNY -0.2082, reflecting a 4.89% increase in loss compared to CNY -0.1985 in 2023[22]. - The company reported a total of CNY 150,304,699.53 in non-recurring gains and losses for 2024, compared to CNY 109,278,919.94 in 2023[28]. - The company experienced a significant increase in non-recurring gains from the disposal of non-current assets, amounting to CNY 56,950,045.89 in 2024, compared to CNY 1,138,861.45 in 2023[28]. Market and Industry Trends - The global commercial display market is projected to grow from $56.71 billion in 2024 to $79.51 billion by 2029, driven by digital transformation and smart city initiatives[32]. - Global tablet shipments are expected to reach 39.9 million units in Q4 2024, with an annual total of 147.6 million units, reflecting a year-on-year growth of 9.2%[33]. - The Chinese PC monitor market is forecasted to see total shipments of 27.05 million units in 2024, representing a year-on-year increase of 3.3%[34]. - The Chinese TV market is projected to have retail sales of 30.86 million units in 2024, with a slight decline of 1.8%, but retail revenue is expected to grow by 15.7%[35]. - The global smartphone market is anticipated to grow by 7% in 2024, reaching total shipments of 1.22 billion units, with China's market expected to see a 4% increase to 285 million units[36]. - AI-enabled smartphones are projected to account for 16% of global smartphone shipments in 2024, with a compound annual growth rate of 63% from 2023 to 2028[37]. - The global wearable device market is expected to see a shipment of 190 million units in 2024, with China's market growing by 19.3% to 61.16 million units[38]. - The Chinese lithium battery market is projected to see a shipment of 1,545.1 GWh in 2024, with a year-on-year growth of 28.5%, and China's share is expected to be 78.6%[40]. - The smart manufacturing equipment market in China is expected to grow from 3.2 trillion yuan in 2023 to 3.4 trillion yuan in 2024, with growth rates of 19.4% and 6.3% respectively[39]. Business Strategy and Operations - The company is focusing on expanding its market presence and developing new technologies, particularly in the fields of lithium batteries and advanced materials[4]. - The company has optimized its business structure by divesting from power equipment maintenance and installation services, focusing on consumer electronics and new energy sectors[44]. - The main products include lithium battery components, which enhance the safety performance of new energy vehicles by preventing thermal runaway[44]. - The company is developing new products such as graphene heating films for automotive seats, which offer high efficiency and safety[45]. - The company is focusing on optimizing the supply chain and reducing costs for graphene heating products, which are currently limited to high-end vehicle applications[54]. - The company plans to enhance its automation production lines and improve product testing integration to ensure quality and reliability while reducing costs[58]. - The company aims to expand its product line by introducing new materials and enhancing customer offerings, particularly in the automotive sector[87]. - The company is focusing on improving its cash flow management due to the significant discrepancies between operating cash flow and net profit[90]. Research and Development - The company’s R&D investment amounted to ¥75,619,606.17 in 2024, representing 4.21% of operating revenue, a decrease from 4.59% in 2023[87]. - The company is developing a multi-functional testing fixture for smartphone screens, aiming to enhance revenue opportunities in the smartphone testing field[85]. - A new VR virtual image distance testing system has been completed, improving testing accuracy and providing revenue opportunities in the VR device testing sector[86]. - The company is advancing a high-performance graphene heat dissipation film, targeting applications in smartphones and electric vehicles, which presents new material revenue opportunities[86]. - The company is developing a fluorine-free lithium battery binder, with small-scale trial production underway, aimed at providing new revenue opportunities in the new energy sector[86]. Corporate Governance and Management - The company has appointed Zhongshun Zhonghuan Accounting Firm as its auditor for the reporting period[21]. - The company’s management team has been strengthened through elections and external recruitment, ensuring a solid foundation for long-term development[63]. - The board of directors consists of 1 internal director, 2 external directors, and 2 independent directors, complying with regulatory requirements[139]. - The company has established a fair and effective performance evaluation and incentive mechanism for senior management[140]. - The company ensures timely and accurate information disclosure, with a designated board secretary responsible for investor relations[140]. - The company has a diverse board with members holding various professional backgrounds, including finance and law[148]. - The company is focused on maintaining stability in its leadership to support ongoing business operations[146]. Environmental and Social Responsibility - The company has implemented various pollution control measures, including a waste gas treatment facility with a capacity of 10,000 m³/h[186]. - The company has established a wastewater treatment station with a processing capacity of 500 tons per day[186]. - The company utilizes an automatic online monitoring system for wastewater and waste gas discharge, ensuring real-time data upload to regulatory platforms[187]. - The company has filed an emergency response plan for environmental incidents with the Tai Xing Ecological Environment Bureau on June 16, 2022, which includes an environmental risk assessment report and emergency resource investigation report[188]. - Environmental governance expenditures include CNY 120,000 for air pollution control, CNY 96,100 for wastewater treatment, CNY 175,100 for hazardous waste disposal, and CNY 6,308.9 for environmental protection tax[188]. Future Outlook and Goals - The company aims to achieve a sales revenue of CNY 2.7 billion (27,000.00 million) in 2025, focusing on consumer electronics, new energy, and chemical materials businesses[126]. - The company plans to control sales costs within CNY 2.23 billion (223,000.00 million) for 2025[126]. - The total expenses for 2025, including taxes, sales, management, R&D, and financial expenses, are projected to be CNY 450 million (45,000.00 million)[127]. - The company intends to secure bank loans totaling CNY 1.5 billion (150,000.00 million) in 2025 to support its operational goals[127]. - The company will enhance management efficiency by optimizing organizational structure and human resource allocation, aiming for improved operational decision-making efficiency[122].

Core Viewpoint - Jinfu Technology (300128.SZ) reported a revenue of 451 million yuan in Q1 2025, marking a 16.5% year-on-year growth, driven by its strategic shift towards high-tech and high-value-added industries, particularly in thermal management and fine chemical materials [1] Group 1: New Material Business Development - The company has made significant progress in thermal management materials, with graphene electric heating film products entering the supply chains of major clients like Geely, SAIC, BYD, General Motors, and Xiaomi, providing heating solutions for electric vehicles [2] - Jinfu Technology's self-developed low-conductivity cooling agent has completed road tests with a leading domestic new energy vehicle manufacturer, demonstrating excellent performance and enhancing the safety and efficiency of cooling systems in electric vehicles [2] - The company is also promoting aerogel materials as a key supplier for battery thermal insulation solutions, with applications extending to aerospace [2] Group 2: Fine Chemical Materials - Jinfu Technology's one-ton battery fluorine-free binder project has achieved initial production capacity at the kiloton level, with positive feedback from over 20 domestic battery manufacturers [3] - The fluorine-free binder is a critical material for battery anodes, and the company's products have shown industry-leading performance metrics in tests conducted by a major domestic lithium battery client [3] - The rapid expansion of the global new energy vehicle and energy storage markets presents significant market potential for this business segment [3] Group 3: Dual-Drive Strategy - The management has implemented a "Consumer Electronics + New Energy" dual-drive strategy, focusing on the consumer electronics market while expanding applications of graphene thermal materials [4] - The growth in the new energy vehicle sector, supported by national policies promoting equipment upgrades and trade-in programs, provides strong momentum for product volume increases [4] - Jinfu Technology aims to leverage domestic substitution opportunities arising from global supply chain adjustments, enhancing its competitive advantage through independent research and development and industry-academia collaboration [4]

苏州锦富技术股份有限公司 内部控制审计报告 众环审字（2025）3300199号 我们的责任是在实施审计工作的基础上,对财务报告内部控制的有效性发表审计意见, 并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性,存在不能防止和发现错报的可能性。此外,由于情况的变化 可能导致内部控制变得不恰当,或对控制政策和程序遵循的程度降低,根据内部控制审计结 果推测未来内部控制的有效性具有一定风险。 四、财务报告内部控制审计意见 内部控制审计报告 众环审字(2025) 3300199 号 苏州锦富技术股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我们审计了苏 州锦富技术股份有限公司(以下简称"锦富技术公司")2024年12月31日的财务报告内部 控制的有效性。 一、锦富技术公司对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指引》 的规定,建立健全和有效实施内部控制,并评价其有效性是锦富技术公司董事会的责任。 二、注册会计师的责任 我们认为,苏州锦富技术股份有限公司于 2024年 12 月 ...

（二）培训时间：2025 年 4 月 15 日 （三）培训方式：现场与线上相结合 （四）培训地点：苏州锦富技术股份有限公司会议室 （五）培训人员：邓伟 2024 年度持续督导培训情况报告 根据《证券发行上市保荐业务管理办法》《深圳证券交易所上市公司自律监 管指引第 13 号——保荐业务》《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》要求，国泰海通证券股份有限公司（以下简称"国 泰海通"）作为苏州锦富技术股份有限公司（以下简称"锦富技术"或"公司"） 向特定对象发行股票的保荐机构，对公司进行了 2024 年度持续督导培训，报告 如下： 一、本次培训的基本情况 国泰海通证券股份有限公司 关于苏州锦富技术股份有限公司 （一）保荐人：国泰海通证券股份有限公司 三、上市公司的配合情况 保荐人本次持续督导培训的工作过程中，公司积极予以配合，保证了培训工 作的有序进行，达到了良好效果。 四、本次培训的结论 通过本次培训，公司相关人员对上市公司规范运作相关法律法规有了更加深 刻的理解与认识，有助于提高公司的规范运作和信息披露水平，本次培训达到了 预期效果。 （以下无正文） （六）培训对象：公司控 ...

国泰海通证券股份有限公司 关于苏州锦富技术股份有限公司 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其 有效性，并如实披露内部控制评价报告是公司董事会的责任。监事会对董事会建 立和实施内部控制进行监督。经营管理层负责组织领导企业内部控制的日常运行。 公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存在任何虚 假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担 个别及连带法律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及 相关信息真实完整，提高经营效率和效果，促进实现发展战略。由于内部控制存 在的固有局限性，故仅能为实现上述目标提供合理保证。此外，由于情况的变化 可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低，根据内部 控制评价结果推测未来内部控制的有效性具有一定的风险。 （二）内部控制评价的依据 本报告是根据财政部、证监会等五部委联合发布的《企业内部控制基本规范》 （以下简称"基本规范"）及《企业内部控制评价指引》（以下简称"评价指引"） 的要求，结合公司的一系列内部控制制度体系，在内部控制日常监督和专项检查 的基础 ...

苏州锦富技术股份有限公司 审 计 报 告 众环审字[2025]3300198号 审 计 报 告 众环审字(2025)3300198 号 苏州锦富技术股份有限公司全体股东： 一、审计意见 我们审计了苏州锦富技术股份有限公司（以下简称"锦富技术公司"）财务报表，包 括 2024 年 12 月 31 日的合并及公司资产负债表，2024 年度的合并及公司利润表、合并及公 司现金流量表、合并及公司股东权益变动表以及相关财务报表附注。 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册会计师对 财务报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照中国注册会计师职 业道德守则，我们独立于锦富技术公司，并履行了职业道德方面的其他责任。我们相信，我 们获取的审计证据是充分、适当的，为发表审计意见提供了基础。 三、关键审计事项 关键审计事项是根据我们的职业判断，认为对本期合并财务报表审计最为重要的事项。 这些事项的应对以对财务报表整体进行审计并形成审计意见为背景，我们不对这些事项单独 发表意见。 我们在审计中识别的关键审计事项为： （一）营业收入确认 关键审计事项 在审计中如何应对该事项 | 关键审 ...

国泰海通证券股份有限公司 关于苏州锦富技术股份有限公司 2024 年度募集资金存放与使用情况的专项核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐机构"）作为 苏州锦富技术股份有限公司（以下简称"锦富技术"或"公司"）的持续督导机 构，根据《证券发行上市保荐业务管理办法》《上市公司监管指引第 2 号——上 市公司募集资金管理和使用的监管要求》《深圳证券交易所股票上市规则》《深圳 证券交易所上市公司自律监管指引第 13 号——保荐业务》《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》等相关规定，对锦富技 术 2024 年度募集资金存放与使用情况进行了审慎核查，具体情况如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会证监许可[2023]245 号文《关于同意苏州锦富技 术股份有限公司向特定对象发行股票注册的批复》，公司向特定对象发行人民币 普通股（A 股）205,000,000 股，募集资金总额为 738,000,000.00 元，扣除各项发 行费用 13,241,781.15 元，实际募集资金净额为 724,758,218. ...

国泰海通证券股份有限公司 关于苏州锦富技术股份有限公司 2024 年度持续督导工作现场检查报告 | 保荐人名称：国泰海通证券股份有限公司 被保荐公司简称：锦富技术 | | --- | | （以下简称"国泰海通"或"保荐人"） | | 保荐代表人姓名：邓伟 联系电话：021-23185902 | | 保荐代表人姓名：金翔 联系电话：021-23180000 | | 现场检查人员姓名：邓伟、刘威良、沈济龄、马麟 | | 现场检查对应期间：2024 年度 | | 现场检查时间：2025 年 4 月 14 日—4 月 18 日 | | 一、现场检查事项 现场检查意见 | | （一）公司治理 是 否 不适用 | | 现场检查手段：查阅了上市公司最新章程、三会议事规则及会议材料，取得上市公司董 | | 事、监事、高级管理人员名单，取得上市公司关联方清单，查阅关于公司控股股东、实 | | 际控制人、董事、监事、高级管理人员的信息披露文件及相关变更决策文件，查看上市 | | 公司生产经营场所，对上市公司高级管理人员进行访谈。 | | 1.公司章程和公司治理制度是否完备、合规 √ | | 2.公司章程和股东大会、董事会、监事会 ...