Investment Rating - Buy (Upgraded) [1] Core Views - The company's performance continues to grow, with Q3 net profit under short-term pressure: In Q1-Q3 2024, the company achieved revenue of 2.161 billion yuan, a year-on-year increase of 9.4%, and net profit attributable to the parent company of 198 million yuan, a year-on-year increase of 17.6% [2] - The company's profitability remains high, with expense ratios flat year-on-year: In Q1-Q3 2024, the gross profit margin was 25.1%, a year-on-year decrease of 0.1 percentage points, and the net profit margin was 8.5%, a year-on-year increase of 0.6 percentage points [2] - Inventory and contract liabilities remain stable, with good cash flow collection: As of the end of Q3 2024, the company's contract liabilities were 138 million yuan, a year-on-year increase of 1%, and inventory was 1.576 billion yuan, a year-on-year increase of 2% [2] - The company is advancing domestic substitution in the semiconductor and food sectors, demonstrating growth potential: The company focuses on domestic substitution, with product R&D and capacity expansion in the semiconductor, food, and pharmaceutical sectors [3] Financial Forecasts and Valuation - Revenue is expected to grow from 2.620 billion yuan in 2022 to 4.744 billion yuan in 2026, with a compound annual growth rate (CAGR) of 16.1% [1] - Net profit attributable to the parent company is expected to grow from 344.79 million yuan in 2022 to 623.69 million yuan in 2026, with a CAGR of 16.0% [1] - EPS is expected to increase from 0.85 yuan per share in 2022 to 1.53 yuan per share in 2026 [1] - The P/E ratio is expected to decrease from 29.31 in 2022 to 16.20 in 2026 [1] Industry and Market Data - The global semiconductor industry is recovering, with Q4 2023-Q2 2024 global semiconductor sales increasing by 11.6%, 15.2%, and 18.3% year-on-year, respectively [3] - The domestic semiconductor equipment market is booming, with Q4 2023-Q1 2024 sales increasing by 90.8% and 113.4% year-on-year, respectively [3] - The domestic aseptic packaging market is expected to exceed 25 billion yuan by 2025, with significant growth potential in the dairy and beverage sectors [3] - The company's stock price has fluctuated between 15.90 yuan and 39.00 yuan over the past year, with a current price of 25.41 yuan [5] Financial Statements and Key Metrics - The company's total assets are expected to grow from 4.350 billion yuan in 2023 to 5.787 billion yuan in 2026 [9] - The company's liabilities are expected to decrease from 2.563 billion yuan in 2023 to 2.662 billion yuan in 2026 [9] - The company's ROE is expected to increase from 13.25% in 2023 to 20.01% in 2026 [10] - The company's ROIC is expected to increase from 9.04% in 2023 to 16.49% in 2026 [10]

Investment Rating - The report maintains a "Buy" rating for the company [1][2][6] Core Views - The company achieved a revenue of 2.161 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 9.35%. The net profit attributable to shareholders was 198 million yuan, up 17.63% year-on-year [2] - In Q3 2024, the company reported a revenue of 743 million yuan, a year-on-year increase of 4.92% and a quarter-on-quarter increase of 1.92%. However, the net profit attributable to shareholders decreased by 0.18% year-on-year and 20.05% quarter-on-quarter [2] - The gross margin for the first three quarters of 2024 was 25.00%, a decrease of 0.14 percentage points year-on-year, while the net margin increased by 0.63 percentage points year-on-year [2] Financial Performance Summary - Revenue Forecast: The company is expected to achieve revenues of 2.960 billion, 3.589 billion, and 4.337 billion yuan for 2024, 2025, and 2026 respectively, with growth rates of 9%, 21%, and 21% [4][6] - Net Profit Forecast: The projected net profits for the same years are 302 million, 411 million, and 545 million yuan, with growth rates of 28%, 36%, and 33% respectively [4][6] - Valuation Metrics: The current price corresponds to a PE ratio of 34, 25, and 19 for the years 2024, 2025, and 2026 respectively [2][4][6] Market Data - As of October 25, 2024, the company's stock price is 25.41 yuan, with a market capitalization of approximately 10.36 billion yuan [2][6] - The stock has shown a performance of 39.5% over the last month, 35.4% over the last three months, but a decline of 23.2% over the last year [2]

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook based on its performance and market position [3]. Core Insights - The company achieved a revenue of 2.161 billion yuan in the first three quarters of 2024, representing a year-over-year increase of 9.35%. The net profit attributable to shareholders was 198 million yuan, up 17.63% year-over-year [1]. - The semiconductor components business remains the primary source of revenue growth, with a revenue of 447 million yuan in the first half of 2024, reflecting a significant year-over-year increase of 48.01% [1]. - The company has established itself as a key supplier in the semiconductor components sector, having received certifications from major semiconductor equipment manufacturers in the U.S. [1]. - The food business has shown stable performance, contributing 803 million yuan in revenue in the first half of 2024, with a slight year-over-year increase of 0.07% [1]. - The company is expected to achieve revenues of 3.091 billion yuan, 3.782 billion yuan, and 4.495 billion yuan for the years 2024, 2025, and 2026, respectively, with corresponding net profits of 273 million yuan, 416 million yuan, and 520 million yuan [2][4]. Financial Summary - For Q3 2024, the company reported a revenue of 743 million yuan, a year-over-year increase of 4.92%, but a decline in net profit to 58 million yuan, down 0.18% year-over-year [1]. - The gross margin for Q3 2024 was 23.92%, a decrease of 1.78 percentage points year-over-year, while the net profit margin was 7.74%, down 0.44 percentage points year-over-year [1]. - The company’s financial forecasts indicate a steady growth trajectory, with expected earnings per share increasing from 0.58 yuan in 2023 to 1.27 yuan by 2026 [4].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company reported a revenue of 2.161 billion RMB for the first three quarters of 2024, representing a year-on-year increase of 9.35%. The net profit attributable to shareholders was 198 million RMB, up 17.63% year-on-year [1] - In Q3 2024, the company achieved a revenue of 743 million RMB, a year-on-year increase of 4.92%, but the net profit attributable to shareholders decreased by 0.18% year-on-year and 20.05% quarter-on-quarter [1] - The semiconductor components contributed to growth, while the food and pharmaceutical sectors remained stable [1] - The company has been actively repurchasing shares, indicating management's confidence in the business and long-term development [1] - The report highlights the strengthening logic of domestic semiconductor equipment independence due to export control measures from the US, Japan, and the Netherlands [1] Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved a gross margin of 25.00%, with a slight decline in Q3 2024 to 23.92%, down 1.88 percentage points quarter-on-quarter [1] - The company’s operating expenses ratio decreased slightly to 14.89% compared to 2023, with R&D expenses at 3.61%, down 0.46 percentage points from the end of 2023 [1] Future Projections - The company is expected to achieve net profits of 284 million RMB, 465 million RMB, and 654 million RMB for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 20.50%, 63.48%, and 40.75% [2] - The estimated EPS for the same years is projected to be 0.70 RMB, 1.14 RMB, and 1.60 RMB [2] Valuation - The current stock price corresponds to a PE ratio of 36, 22, and 16 for the years 2024, 2025, and 2026 respectively [2]

昆山新莱洁净应用材料股份有限公司 《公司章程》修订对照表 公司根据最新颁布的《中华人民共和国公司法》《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》对 《公司章程》进行修订，具体如下： | 序号 | 原条款 | 修改后条款 | | --- | --- | --- | | 1 | 全文：股东大会 | 全文：股东会 | | 2 | 第八条 董事长为公司的法定代表人。 | 第八条 董事长为公司的法定代表人。董事长辞任的，视为同时辞去法定 | | | | 代表人。法定代表人辞任的，公司应当在法定代表人辞任之日起三十日 | | | | 内确定新的法定代表人。 | | 3 | 第十六条 公司股份的发行，实行公平、公正的原则，同种类的每一股份 | 第十六条 公司股份的发行，实行公平、公正的原则，同类别的每一股份 | | | 应当具有同等权利。 | 应当具有同等权利。 | | | 同次发行的同种类股票，每股的发行条件和价格应当相同；任何单位或 | 同次发行的同类别股票，每股的发行条件和价格应当相同；任何单位或 | | | 者个人所认购的股份，每股应当支付相同价额。 | 者个人所认购的股份，每股应当支付 ...

昆山新莱洁净应用材料股份有限公司 2024 年第三季度报告 1 证券代码：300260 证券简称：新莱应材 公告编号：2024-035 昆山新莱洁净应用材料股份有限公司 2024 年第三季度报告 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第三季度报告是否经过审计 □是 否 昆山新莱洁净应用材料股份有限公司 2024 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |------------------------------------------------------|------------------------------|----------- ...

根据《上市公司独立董事管理办法》《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》 等相关法律法规、规范性文件及《公司章程》《独立董事工作细则》的有关规定， 昆山新莱洁净应用材料股份有限公司（以下简称"公司"）于 2024 年 10 月 23 日 召开了第六届董事会 2024 年第二次独立董事专门会议。基于完全独立、认真、 审慎的立场，本着对公司及全体股东负责的态度，在认真阅读和审核相关材料的 基础上，对公司第六届董事会第五次会议所审议案的相关情况进行了核查，并发 表审查意见如下： 一、关于公司变更审计机构暨聘任 2024 年度审计机构的审查意见 经核查，我们认为：容诚会计师事务所（特殊普通合伙）具备独立性、审计 的专业能力和资质以及投资者保护能力，能够满足公司审计要求，聘任其是基于 公司业务发展需要，有利于保证审计工作的连续性和稳定性，不存在损害公司及 其他股东利益、尤其是中小股东利益的情况。我们同意董事会聘任容诚会计师事 务所（特殊普通合伙）为公司 2024 年度财务报告审计和内部控制审计机构，并 同意将该事项提交董事会审议。该事项尚需提交股东 ...

关于召开2024年第一次临时股东会的通知 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 昆山新莱洁净应用材料股份有限公司（以下简称"公司"或"新莱应材"）第六 届董事会第五次会议审议通过了《关于提议召开 2024 年第一次临时股东会的议 案》，定于 2024 年 11 月 13 日召开 2024 年第一次临时股东会，审议第六届董事 会第五次会议、第六届监事会第五次会议提交的相关议案。现就相关事项通知如 下： 证券代码：300260 证券简称：新莱应材 公告编号：2024-038 昆山新莱洁净应用材料股份有限公司 一、本次股东会召开的基本情况 1、股东会届次：2024年第一次临时股东会。 2、会议召集人：公司董事会。 3、会议召开的合法、合规性：公司第六届董事会第五次会议决定于2024年 11月13日召开2024年第一次临时股东会。本次股东会会议召开符合有关法律、行 政法规、部门规章、规范性文件和《公司章程》的规定。 4、会议召开日期、时间： （1）现场会议时间：2024年11月13日（星期三）下午14:30 （2）网络投票时间：2024年11月13日，其中： ①通 ...

昆山新莱洁净应用材料股份有限公司 章 程 二〇二四年十月 | 第一章 | 总 则 2 | | --- | --- | | 第二章 | 经营宗旨和经营范围 3 | | 第三章 | 股份 3 | | 第一节 | 股份发行 3 | | 第二节 | 股份增减和回购 5 | | 第三节 | 股份转让 6 | | 第四章 | 股东和股东会 6 | | 第一节 | 股东 6 | | 第二节 | 股东会的一般规定 8 | | 第三节 | 股东会的召集 11 | | 第四节 | 股东会的提案与通知 12 | | 第五节 | 股东会的召开 13 | | 第六节 | 股东会的表决和决议 16 | | 第五章 | 董事会 20 | | 第一节 | 董 事 20 | | 第二节 | 董事会 23 | | 第六章 | 总经理及其他高级管理人员 28 | | 第一节 | 总经理 28 | | 第二节 | 董事会秘书 30 | | 第七章 | 监事会 31 | | 第一节 | 监事 31 | | 第二节 | 监事会 32 | | 第八章 | 财务会计制度、利润分配和审计 34 | | 第一节 | 财务会计制度 34 | | 第二节 | 内部 ...

证券代码：300260 证券简称：新莱应材 公告编号：2024-033 昆山新莱洁净应用材料股份有限公司 第六届董事会第五次会议决议公告 本公司及董事会全体成员保证本公告内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 根据《公司法》《证券法》《上市公司信息披露管理办法》《深圳证券交易 所创业板上市公司规范运作指引》等相关法律法规和规范性文件及公司章程的规 定，公司《2024年第三季度报告》已编制完成。经审议，全体董事同意报出《2024 年第三季度报告》，该报告内容真实、准确、完整。《2024年第三季度报告》的 具体内容详见同日在巨潮资讯网（www.cninfo.com.cn）上披露的公告。 本议案已经公司董事会审计委员会审议通过。 表决情况：9票赞成、0票反对、0票弃权。 昆山新莱洁净应用材料股份有限公司（以下简称"公司"）第六届董事会第五 次会议于2024年10月23日以现场和通讯方式召开，会议通知已于2024年10月14 日以电子邮件方式向全体董事、监事和高级管理人员发出。本次会议应出席董事 9名，实际出席会议9名，其中董事李柏桦先生、厉善君先生、何锋女士采用通讯 ...