Investment Rating - The report maintains a "Recommended" rating for the company [6]. Core Views - The company is expected to achieve a net profit attributable to shareholders of 1.90-2.00 billion yuan in 2024, representing a year-on-year growth of 168.27% to 182.39% [1]. - The company's main products have seen significant growth in both volume and price, with a projected sales volume increase of approximately 10.9% and sales revenue growth of about 20.2% in 2024 [2]. - The automotive interior business is anticipated to experience "low base, high growth" due to the company's expanding market share and partnerships with major automotive brands [2]. - The company's Vietnam operations are expected to improve as it has recently passed supplier certifications from major clients, leading to increased production and sales [3]. - The company is projected to achieve net profits of 1.95 billion, 2.72 billion, and 3.28 billion yuan from 2024 to 2026, with corresponding EPS of 0.90, 1.25, and 1.51 yuan [4]. Summary by Sections Financial Performance - The company forecasts a total revenue of 2,460 million yuan in 2024, a 23% increase from 2023, with net profit expected to rise to 195 million yuan, marking a 174.6% increase [5]. - The projected revenue for 2025 and 2026 is 2,969 million yuan and 3,477 million yuan, respectively, with net profits of 272 million yuan and 328 million yuan [5][9]. Product and Market Development - The company has increased its R&D investment to approximately 138 million yuan in 2024, a year-on-year growth of about 9.15%, indicating strong future growth potential [2]. - The product mix is improving, with a higher proportion of high-tech, high-value-added products such as water-based and solvent-free materials [2]. Operational Expansion - The Vietnam facility is ramping up production, with two production lines operational since late 2022, and is expected to reach breakeven in 2024 as it secures more orders from major clients [3].

Financial Performance - The net profit attributable to shareholders for 2024 is expected to be between 19,000 and 20,000 million CNY, representing a year-on-year increase of 168.27% to 182.39% compared to 7,082.38 million CNY in the previous year[3]. - The net profit after deducting non-recurring gains and losses is also projected to be between 19,000 and 20,000 million CNY, reflecting a growth of 156.55% to 170.05% from 7,406.06 million CNY in the same period last year[3]. - The company anticipates non-recurring gains and losses for 2024 to be around 1.7 million CNY[7]. Sales and Revenue - The company's main product sales volume increased by approximately 10.9%, while sales revenue grew by about 20.2% and sales price rose by around 8.4% during the reporting period[5]. - The company has expanded the sales of high-tech, high-value-added products such as water-based, solvent-free, and recycled products, leading to an increase in their proportion of total sales[6]. Research and Development - Research and development investment for the year is approximately 138 million CNY, an increase of about 11.54 million CNY, or 9.15%, accounting for about 5.73% of operating revenue[6]. Strategic Focus - The company aims to strengthen its brand and innovation-driven strategies to enhance its competitive position in the global market[6]. - The company emphasizes its commitment to long-termism and innovation to navigate complex external environments and achieve growth[5]. Reporting and Forecasting - The performance forecast is based on preliminary calculations by the company's finance department and has not been audited by an external auditor[7]. - The specific financial data for 2024 will be disclosed in detail in the company's annual report[7].

证券代码: 300218 证券简称:安利股份 安徽安利材料科技股份有限公司投资者关系活动记录表 编号: 2025-001 | | ☑ 特定対象调研 □分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | 类别 | ☑ 现场参观 | | | □其他 | | 参与单位名称及 | 1、鹏华基金:杨浩; | | 人员姓名 | 2、国令证券:王明辉。 | | 时间 | 2025年1月3日9:30-11:00 | | 地点 | 公司行政楼 906 会议室 | | 上市公司接待人 | 董事会秘书、副总经理:刘松霞 | | 员姓名 | 证券事务代表:陈丽婷 | | | 证券助理:高杰晶 | | | 一、参观公司展厅; 二、主要问题及回答 | | | 1、安利越南目前的产能规划、开工率情况和盈亏平衡点? | | | 答:安利越南规划建设 4 条牛产线,全部建成达产后,将 | | | 新增年产生态功能性聚氨酯合成革及复合材料1200万米的牛产 | | | 经营能力。其中 2 条生产线于 2022年末调试投产,公司正积极 | | 投资者关系活动 ...

安徽安利材料科技股份有限公司 关于第 3 期员工持股计划存续期即将届满的提示性公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 安徽安利材料科技股份有限公司（以下简称"公司"）于2022年3月25日召 开第六届董事会第七次会议，并于2022年4月20日召开2021年度股东大会，审议 通过了《关于<安徽安利材料科技股份有限公司第3期员工持股计划（草案）（修 订稿）>及其摘要的议案》等相关议案，同意公司实施第3期员工持股计划，并授 权董事会办理公司第3期员工持股计划的相关事宜，具体内容详见公司刊登于中 国证监会指定的创业板信息披露网站的相关公告。 证券代码：300218 证券简称：安利股份 公告编号：2024-066 鉴于公司第3期员工持股计划（以下简称"本次员工持股计划"）的存续期 将于2025年6月9日届满，根据中国证监会《关于上市公司实施员工持股计划试点 的指导意见》《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》的相关规定，公司应当在员工持股计划存续期限届满前六个月披露 提示性公告。现将相关情况公告如下： 一、本次员工持股计划持有 ...

天禾律师事务所 股东大会法律意见书 安徽天禾律师事务所 关于安徽安利材料科技股份有限公司 2024年第一次临时股东大会的法律意见书 天律意2024第02708号 致：安徽安利材料科技股份有限公司 根据《中华人民共和国公司法》（下称"《公司法》"）、《中华人民共和 国证券法》（下称"《证券法》"）、中国证券监督管理委员会《上市公司股东 大会规则》（下称"《股东大会规则》"）以及《安徽安利材料科技股份有限公 司章程》（下称"《公司章程》"）的有关规定，安徽天禾律师事务所接受安徽 安利材料科技股份有限公司（下称"公司"）的委托，指派费林森、盛建平律师 （下称"天禾律师"）出席公司 2024 年第一次临时股东大会（下称"本次股东 大会"），并对本次股东大会相关事项进行见证，出具法律意见。 本法律意见书是天禾律师根据对本次股东大会事实的了解及对我国现行法 律、法规和规范性文件的理解而出具的。 天禾律师同意将本法律意见书作为本次股东大会的法定必备文件予以公告， 并依法对所出具的法律意见书承担责任。 天禾律师根据《证券法》相关规定的要求，按照律师行业公认的业务标准、 道德规范和勤勉尽责精神，对本次股东大会的召集、召开、与会 ...

证券代码：300218 证券简称：安利股份 公告编号：2024-065 安徽安利材料科技股份有限公司 2024 年第一次临时股东会决议公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东会未出现否决议案的情形； 2、本次股东会审议通过的《关于拟变更会计师事务所的议案》，涉及变更2023 年度股东大会审议通过的《关于聘请2024年度审计机构的议案》。具体可参见公 司于2024年4月23日在巨潮资讯网披露的《2023年度股东大会决议公告》（公告编 号：2024-036）。 一、会议召开和出席情况 1、会议召开时间： （1）现场会议时间：2024年11月12日（星期二）下午2:30 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为： 2024 年 11 月 12 日的交易时间，即 9:15-9:25、9:30-11:30、13:00-15:00；通过深 圳证券交易所互联网投票系统投票的时间为：2024 年 11 月 12 日 9:15-15:00 期间 的任意时间。 2、现场会议召开地点：中国安徽省合肥市经济技术开发区桃花工 ...

Summary of the Conference Call Company Overview - The conference call pertains to Amway Co., Ltd. and its performance in 2024, highlighting significant growth in sales, revenue, and profit amidst a complex external environment [1][2]. Key Financial Metrics - Sales price of main products increased by 8.4% year-on-year [2]. - Net profit reached 194 million yuan, a year-on-year increase of 174.19% [2]. - Deducted non-recurring net profit was 192 million yuan, up 159.6% year-on-year [2]. - Basic earnings per share were 0.9082 yuan, with a return on equity of 14.47%, an increase of 8.86 percentage points from the previous year [2]. - Accounts receivable turnover improved to 54.29 days, inventory turnover sped up to 64.72 days, and total asset turnover improved to 344.27 days [2]. - The debt-to-asset ratio at the end of 2024 was 34.97%, down 0.9 percentage points from the previous year [2]. Strategic Initiatives - The company invested 138 million yuan in R&D, an increase of 9.15% year-on-year [3]. - New production lines were added in both the headquarters and Vietnam, indicating expansion efforts [3]. - The company aims to focus on high-quality development, emphasizing professional, specialized, branded, and scaled growth strategies [3]. Market Position and Competitive Advantages - The company has seen significant growth in business with major clients like Nike and Anta, contributing to higher value and margin products [5][6]. - Product upgrades have been noted, with the proportion of water-based temperature measuring products increasing from 18% to 22% [6]. - The company maintains a competitive edge through technological advancements, brand reputation, and a global sales network [8][9]. Challenges and Outlook - The macroeconomic environment is expected to remain complex, posing challenges for future growth [3]. - The company is optimistic about maintaining double-digit growth in various product categories, including automotive interiors and consumer electronics [14][15]. - The impact of recent tariff policies on exports to the U.S. is minimal, with only 2.55% of revenue directly affected [11][12]. Investor Engagement - The call included an interactive segment for investors to ask questions, reflecting the company's commitment to transparency and engagement with stakeholders [4][16]. Additional Insights - The company is actively managing risks associated with global supply chains and is prepared for potential increases in orders from major clients [15][16]. - Continuous investment in technology and fixed assets is a priority to ensure future competitiveness [16].

Group 1: Financial Performance - In the first three quarters of 2024, the company's main product sales increased by 16.1%, with revenue rising by 26.2% and average selling price up by 8.7% [2] - In Q3 2024 alone, sales volume grew by 10.2%, revenue increased by 21.6%, and average price rose by 10.4% [2] - The company expects a stable sales performance in the sofa and home furnishings category for 2025, despite challenges in the domestic market [4] Group 2: Product Categories and Market Outlook - The core business consists of "2+2" categories, with functional footwear and sofa/home furnishings accounting for approximately 70% of total revenue, while emerging categories like automotive interiors and electronics contribute about 20% [3] - The automotive interior category is seen as a new growth point, with expectations for significant sales growth due to increasing brand collaborations [2] - The company is confident in the growth of functional footwear materials, with ongoing collaborations with major brands like Nike, Anta, and Li Ning [3] Group 3: Production Capacity and Strategy - The company currently operates 40 production lines, with approximately 25% of capacity dedicated to water-based and solvent-free products, aiming to increase this to around 40% in the future [4] - Plans are in place to complete the construction of two additional production lines in Vietnam by the end of 2024, which will enhance overall production capacity [4] - The company is actively updating and optimizing its production lines to expand capacity and improve product offerings [4] Group 4: Currency Management and Financial Strategy - The company employs a neutral foreign exchange management strategy to balance foreign currency assets and liabilities, aiming to mitigate financial risks from exchange rate fluctuations [4] - The foreign exchange gains and losses for Q3 remained stable, indicating effective management of currency exposure [4]

证券代码：300218 证券简称：安利股份 公告编号：2024-064 安徽安利材料科技股份有限公司 关于姚和平等 8 人续签一致行动人协议书的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 鉴于安徽安利材料科技股份有限公司（以下简称"公司"或"安利股份"）实际控 制人姚和平、王义峰、杨滁光、陈茂祥、黄万里、李道鹏、胡东卫、刘兵原签订的《一 致行动人协议书》于 2024 年 10 月 28 日到期。为保证安利股份和控股股东安徽安利科 技投资集团股份有限公司（以下简称"安利投资"）的长期稳定发展和持续健康经营， 提高安利股份和安利投资的经营管理和决策效率，实现更好的经济效益和价值回报，姚 和平、王义峰、杨滁光、陈茂祥、黄万里、李道鹏、胡东卫、刘兵于 2024 年 10 月 28 日续签了《一致行动人协议书》，作为一致行动人，共同通过安利投资间接控制公司， 为公司的共同实际控制人。具体有关情况如下： 一、协议各方基本情况及控制关系 | | | | | 直接持有安利股 | | 直接持有安利投资 | | | --- | --- | --- | --- | --- ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a record high in net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024, with a significant year-on-year increase of 377.79% [3] - The company is expected to benefit from the recovery in shoe material demand, new TPU products, and the continuous growth in new demands from the automotive and electronics sectors [3] Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 1.802 billion yuan, a year-on-year increase of 25.89%, and a net profit attributable to shareholders of 150 million yuan, a year-on-year increase of 260.94% [3] - In Q3 2024, the company achieved revenue of 675 million yuan, a year-on-year increase of 21.36% and a quarter-on-quarter increase of 15.38% [3] - The company’s main product sales volume increased by 16.1% year-on-year, with sales revenue up by 26.2% and sales price up by 8.7% [3] Future Outlook - The company is positioned as a leader in the domestic PU leather industry and is expected to see continued growth driven by emerging demands in high-margin sectors such as automotive interiors and electronics [3] - The company’s new TPU products are gaining traction in both domestic and international high-end sports brands, which is likely to sustain growth in shipment volumes [3] - The company’s Vietnam operations have improved following certification from Nike's laboratory, setting a solid foundation for better performance in the future [3]