Business Overview and Performance - Neway Materials' main business includes the R&D, production, and sales of clean application materials and high-purity/ultra-high-purity application materials, primarily used in food safety, biopharmaceuticals, and semiconductor industries [4] - In 2024 H1, the company achieved revenue of 1.418 billion yuan, a year-on-year increase of 11.83%, and net profit of 140 million yuan, a year-on-year increase of 26.91% [4] - The company's subsidiary, Shandong Bihai, specializes in aseptic packaging materials and liquid food filling machinery, serving clients like Yili, Nestlé, and Wahaha [8] Semiconductor Industry - The semiconductor business saw significant growth in 2024 H1 due to market recovery, with orders improving steadily [4] - The company's semiconductor products account for 3%-5% of total chip factory investment and 5%-10% of semiconductor equipment manufacturers' raw material procurement [8] - The company's "AdvanTorr" and "Nanopure" product lines are widely recognized in the semiconductor industry for their high vacuum and ultra-high purity applications [6][7] - The company is focusing on domestic substitution in the semiconductor sector, aiming for high-speed growth in equipment and facility components [9] Food Industry - Despite reduced demand in the food industry, the company maintained market share domestically, with performance remaining stable [4] - The company's aseptic packaging and filling machinery business is expanding, with plans to increase production capacity to meet growing demand [8][9] - The company is targeting domestic first-tier brands and promoting new high-speed machinery products to enhance market share [8] Future Strategy - The company will continue to focus on domestic substitution, particularly in the semiconductor and food safety sectors [9] - In the biopharmaceutical field, the company plans to increase R&D investment in high-value-added pharmaceutical-grade pumps and valves to mitigate market risks [9] - The company aims to strengthen its "equipment + packaging materials" business model in the food safety sector to increase customer loyalty and market share [9]

Investment Rating - The report maintains an "Accumulate" rating for the company [1][15]. Core Views - The company has shown steady growth in performance, with significant expansion in the semiconductor business, achieving a revenue of 1.418 billion yuan in the first half of 2024, a year-on-year increase of 11.83%. The semiconductor segment generated 447 million yuan, up 48% year-on-year, accounting for 32% of total revenue [2][9]. - The company's profit structure is improving, with a gross margin of 25.57% in the first half of 2024, an increase of 0.74 percentage points year-on-year. The net profit margin also improved to 9.89%, up 1.18 percentage points year-on-year [10][14]. - The company is focusing on domestic substitution strategies across its three main segments: semiconductor, food, and pharmaceuticals, which are expected to drive growth as downstream demand recovers [3][14]. Summary by Sections Financial Performance - In H1 2024, the company achieved total revenue of 1.418 billion yuan, with a net profit of 140 million yuan, reflecting a year-on-year increase of 26.91% [2][9]. - The second quarter revenue was 729 million yuan, up 15.88% year-on-year, with a net profit of 72 million yuan, also showing a year-on-year increase of 26.49% [2][9]. Profitability Metrics - The gross margin for H1 2024 was 25.57%, with the semiconductor segment at 28.34%, the food segment at 22.74%, and the pharmaceutical segment at 31.67% [10][14]. - The company’s net profit margin for H1 2024 was 9.89%, with a slight increase in the expense ratio to 14.73% [10][14]. Market Outlook - The global semiconductor market is expected to recover, with projected sales growth of 11.6% to 18.3% from Q4 2023 to Q2 2024. The domestic semiconductor equipment market is also showing significant growth, with sales expected to increase by 90.8% to 113.4% [3][14]. - The food packaging market in China is projected to exceed 25 billion yuan by 2025, indicating substantial growth potential, particularly in dairy and beverage sectors [3][14]. Earnings Forecast - The company’s net profit forecasts for 2024, 2025, and 2026 are 370 million yuan, 520 million yuan, and 660 million yuan, respectively, with corresponding P/E ratios of 19, 13, and 10 [15].

2024年08月26日 来源：公司年报、国金证券研究所 新莱应材 (300260.SZ) 买入(维持评级) 公司点评 证券研究报告 食品和医药业务同比持平， 半导体零组件业务保持增长 业绩简评 2024年8月26日公司披露 2024年半年报,1H24公司实现营收 14.18 亿元,同比+11.83%;实现归母净利润 1.40 亿元,同比 +26.91%,实现扣非后的归母净利润 1.32 亿元,同比+22.38%。 2Q24 单季度公司实现营收 7.29 亿元,同比+15.88%; 2Q24 实现 归母净利润 0.72 亿元,同比+26.49%,环比+5.08%;2Q24 实现 扣非后的归母净利润7249.96万元,同比+27.69%,环比+21.58%。 经营分析 综合毛利率维持稳定，2Q24 营业收入和扣非归母净利润环比改 善。1H24 综合毛利率为 25.57%, 2Q24 单季度毛利率为 25.80%, 环比提升 0.048 pcts。期间费用方面,1H24 公司期间费用率较 2023 年略有下降,为 14.73%,其中销售费用率和管理费用率基 本稳定,研发费用率为 3.54%,较 23 年底下降了 0 ...

昆山新莱洁净应用材料股份有限公司 2024 年半年度报告全文 昆山新莱洁净应用材料股份有限公司 2024 年半年度报告 【2024 年 8 月】 1 昆山新莱洁净应用材料股份有限公司 2024 年半年度报告全文 第一节 重要提示、目录和释义 | --- | |---------------------------------------------------------------------| | | | 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 | | 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 | | 个别和连带的法律责任。 | | 公司负责人李水波、主管会计工作负责人黄世华及会计机构负责人 | | 主管人员 ) 方丰声明：保证本半年度报告中财务报告的真实、准确、完整。 | | 所有董事均已出席了审议本次半年报的董事会会议。 | | 公司计划不派发现金红利，不送红股，不以公积金转增股本。 | 2 昆山新莱洁净应用材料股份有限公司 2024 年半年度报告全文 第一节 重要提示、目录和释义.................................... ...

2024 年 8 月 27 日 2024 年半年度非经营性资金占用及其他关联资金往来情况汇总表 编制单位：昆山新莱洁净应用材料股份有限公司 单位：万元 | 非经营性 | | 占用方与上市 | 上市公司核算 | 年期初 2024 | 2024 年上半年度 | 2024 年上半年 | 2024 年上半年 | 2024 年上半年 | 占用形 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 资金占用 | 资金占用方名称 | 公司 | 的会计科目 | 占用资金余额 | 占用累计发生金 | 度占用资金的 | 度偿还累计发 | 度期末占用资 | 成原因 | 占用性质 | | | | 的关联关系 | | | 额（不含利息） | 利息（如有） | 生金额 | 金余额 | | | | 控股股东、实际控制 | | | | | | | | | | 非经营性占用 | | 人及其附属企业 | | | | | | | | | | 非经营性占用 | | 小计 | — | — | — | | | | | | | — | | 前控股股东、实际控 ...

证券代码：300260 证券简称：新莱应材 公告编号：2024-029 昆山新莱洁净应用材料股份有限公司 关于回购公司股份期限届满暨回购完成的公告 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。 重要内容提示： 昆山新莱洁净应用材料股份有限公司（以下简称"公司"）于2023年8月25日 召开第五届董事会第十六次会议和第五届监事会第十六次会议，审议通过了《关 于回购公司部分股份方案的议案》，同意公司使用自有资金以集中竞价交易的方 式回购公司部分股份，用于员工持股计划或者股权激励。本次用于回购的资金总 额不低于人民币5,000万元（含）且不超过人民币10,000万元（含），回购股份的 价格不超过人民币43元/股（含），具体回购股份的金额以回购实施完成时实际回 购的金额为准。本次回购股份的实施期限为自公司董事会审议通过本次回购方案 之日起12个月内。具体情况详见公司于2023年8月29日披露在巨潮资讯网 （www.cninfo.com.cn）的《关于回购公司部分股份方案的公告》（公告编号：2023- 091）及《回购股份报告书》（公告编号：2023-045）。 截至本公告 ...

证券代码：300260 证券简称：新莱应材 公告编号：2024-028 昆山新莱洁净应用材料股份有限公司 关于公司相关当事人收到《行政处罚事先告知书》 的公告 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。 2022年4月3日收到关于中国证券监督管理委员会立案告知书（编号：证监立 案字0102022001号、证监立案字0102022002号、证监立案字0102022003号）和调 查通知书（编号：证监调查字0102022081号、证监调查字0102022082号、证监调 查字0102022083号），公司控股股东、实际控制人李水波先生、公司时任董事会 秘书郭红飞女士、公司副总经理、董事会秘书朱孟勇先生因涉嫌内幕交易，根据 《中华人民共和国证券法》《中华人民共和国行政处罚法》等法律法规，中国证 券监督管理委员会决定对李水波先生、郭红飞女士、朱孟勇先生进行立案并调查 相 关 情 况 。 具 体 情 况 详 见 公 司 于 2022 年 4 月 6 日 披 露 在 巨 潮 资 讯 网 （www.cninfo.com.cn）的《关于公司控股股东、实际控制人、高级管理人员、董 ...

证券代码：300260 证券简称：新莱应材 公告编号：2024-027 昆山新莱洁净应用材料股份有限公司 关于公司股份回购进展情况的公告 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。 公司回购股份的时间、回购股份价格、回购股份的方式及集中竞价交易的委 托时间段均符合《深圳证券交易所上市公司自律监管指引第9号——回购股份》 及公司回购股份方案的相关规定。 1、公司未在下列期间回购股份： （1）自可能对本公司证券及其衍生品种交易价格产生重大影响的重大事项 发生之日或者在决策过程中，至依法披露之日内； （2）中国证监会和深圳证券交易所规定的其他情形。 重要内容提示： 昆山新莱洁净应用材料股份有限公司（以下简称"公司"）于2023年8月25日 召开第五届董事会第十六次会议和第五届监事会第十六次会议，审议通过了《关 于回购公司部分股份方案的议案》，同意公司使用自有资金以集中竞价交易的方 式回购公司部分股份，用于员工持股计划或者股权激励。本次用于回购的资金总 额不低于人民币5,000万元（含）且不超过人民币10,000万元（含），回购股份的 价格不超过人民币43元/股（含）， ...

Group 1: Company Overview and Business Operations - Xinlai Materials specializes in clean application materials and high-purity materials, primarily serving the food safety, biomedicine, and semiconductor sectors [3] - The company has developed a complete technical system for clean application materials and high-purity materials over more than 20 years [3] - The wholly-owned subsidiary, Shandong Bihai Packaging Materials Co., Ltd., focuses on aseptic packaging materials for liquid foods [3][7] Group 2: Financial Performance - In the first half of 2024, the company expects a net profit attributable to shareholders of 120 million to 147 million CNY, representing a year-on-year growth of 8.41% to 32.8% [3] - The non-recurring net profit is projected to be between 109 million to 136 million CNY, with a year-on-year increase of 0.95% to 25.96% [3] Group 3: Market Trends and Orders - The semiconductor industry is experiencing a recovery, leading to improved order trends for the company [3][4] - Despite a decrease in demand from downstream customers in the food industry, the overall performance remains stable [4] Group 4: Competitive Advantages - The company has established a strong market presence in the semiconductor sector, with products widely recognized and used by domestic and international clients [4][5] - Xinlai's products meet stringent standards such as ISO, ASTM, JIS, GB, and DIN, ensuring high quality and reliability [4][5] Group 5: Future Strategies - The company aims to capitalize on the domestic substitution trend in the semiconductor industry and enhance its market share in food safety by integrating equipment and packaging materials [7] - Continued investment in R&D, particularly in high-value pharmaceutical-grade pumps and valves, is planned to mitigate future market risks [7]

Investment Rating - The investment rating for the company is "Accumulate," indicating that the stock price is expected to outperform the benchmark index by 10%-20% over the next 6-12 months [4][9]. Core Views - The semiconductor business has shown significant growth, while the food business has remained stable despite market challenges [14]. - The company is expected to maintain a strong position in the semiconductor sector, with increased R&D and sales investments [15]. - The food business has demonstrated resilience, maintaining market share despite a decrease in customer demand due to consumption downgrading [15]. Financial Summary - The company's main revenue (in million RMB) is projected to grow from 2,620 in 2022 to 4,415 by 2026, with a growth rate of 27.5% in 2022 and a forecasted 14.0% in 2026 [2][5]. - EBITDA is expected to fluctuate, with a decrease from 548 in 2022 to 421 in 2023, before rising to 857 by 2026 [2][5]. - Net profit attributable to the parent company is forecasted to decline from 345 in 2022 to 236 in 2023, then recover to 595 by 2026, reflecting a growth rate of 103.0% in 2022 and a decline of 31.6% in 2023 [2][5]. - The latest diluted earnings per share (EPS) is projected to decrease from 0.85 in 2022 to 0.58 in 2023, with a recovery to 1.46 by 2026 [2][5]. - The price-to-earnings (P/E) ratio is expected to decrease from 22.8 in 2022 to 13.2 by 2026, indicating a more attractive valuation over time [2][5]. Market Context - The semiconductor market is experiencing a recovery in demand, which is expected to positively impact the company's order flow [15]. - The company is positioned to benefit from domestic substitution trends due to international restrictions on semiconductor technology exports to China [15].