一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.6100 | 0.5700 | 7.02 | 0.5000 | | 每股净资产（元） | 6.73 | 6.28 | 7.17 | 5.84 | | 每股公积金(元) | 1.65 | 1.87 | -11.76 | 1.9 | | 每股未分配利润(元) | 3.80 | 3.31 | 14.8 | 2.88 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 40.47 | 38.59 | 4.87 | 31.67 | | 净利润(亿元) | 6.05 | 5.69 | 6.33 | 4.97 | | 净资产收益率(%) | 9.29 | 9.32 | -0.32 | 8.55 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 30124.6万股，累计占流通股比： 37.48%，较上期变化： ...

Company Strategy and Vision - The company aims to become a leading platform for new materials, focusing on high-end aluminum nitride and silicon nitride powder products to reduce reliance on imports [4]. - The company has a clear strategic direction, avoiding blind diversification and maintaining a focus on core material technologies [4]. - The company is committed to maintaining a spirit of entrepreneurship and innovation, focusing on high-quality and long-term development rather than speed [8]. - The management emphasizes the importance of a talent ecosystem, aiming to attract and retain high-quality talent to drive innovation and growth [7]. - The company acknowledges the challenges posed by global economic changes and technological revolutions, positioning itself to embrace these changes [8]. Financial Performance - The company's revenue for 2024 reached ¥4,046,621,338.14, representing a 4.86% increase compared to ¥3,859,222,799.29 in 2023 [30]. - Net profit attributable to shareholders for 2024 was ¥604,813,567.70, up 6.27% from ¥569,135,423.87 in 2023 [30]. - The net profit after deducting non-recurring gains and losses was ¥580,684,110.45, reflecting a 7.05% increase from ¥542,450,536.21 in 2023 [30]. - The net cash flow from operating activities increased by 16.85% to ¥753,587,502.61 in 2024, compared to ¥644,895,331.33 in 2023 [30]. - Basic earnings per share for 2024 were ¥0.61, a 7.02% increase from ¥0.57 in 2023 [30]. Market Trends and Projections - The global MLCC market size is expected to rebound to CNY 112 billion by 2025, following a decline to CNY 97.4 billion in 2023 due to macroeconomic factors [39]. - China's automotive production and sales are projected to reach 31.28 million and 31.44 million units in 2024, representing year-on-year growth of 3.7% and 4.5% respectively [42]. - The global oral medical device market is anticipated to grow at a compound annual growth rate (CAGR) of 6.5% from 2017 to 2024, driven by increasing demand for dental services in China [43]. - Global power battery usage is expected to reach 894.4 GWh in 2024, marking a year-on-year increase of 27.2% [46]. - The global energy storage battery shipment is projected to be 301 GWh in 2024, reflecting a significant year-on-year growth of 62.7% [46]. Product Development and Innovation - The company has successfully developed and mass-produced various specifications of high-capacity slurry and automotive-grade slurry products, enhancing its market presence [56]. - The company has launched new production capacity for cerium-zirconium solid solution products, resulting in rapid sales growth driven by demand from overseas clients [58]. - The company is positioned as a global provider of dental restoration solutions, focusing on advanced biomaterials for dental hard tissue replacement [59]. - The company is expanding its product offerings in the electronic materials sector, including nano-composite zirconia for high-end consumer electronics [55]. - New products launched include fluorescent zirconia blocks and phosphoric acid etching agents, with several products receiving compliance certificates under EU Medical Device Regulation (MDR) [60]. Operational Efficiency and Management - The company is focused on internal management improvements, aiming to enhance efficiency and resource integration across departments [8]. - The company has implemented a Manufacturing Execution System (MES) to enhance production traceability and improve delivery efficiency [57]. - The company is implementing a lean management system to improve operational efficiency and has established a technical expert committee to oversee key R&D projects [68]. - The company employs an "order-driven" production model, coordinating production plans based on market orders to optimize resource allocation [73]. - The company has established an energy management department to enhance energy management and promote sustainable development, achieving recognition as a national green supply chain management enterprise [72]. Risk Management and Compliance - The company has outlined potential risk factors and countermeasures in its annual report, urging investors to pay attention to these aspects [12]. - The company is actively managing raw material price fluctuations to mitigate risks associated with production costs and maintain profit margins [150]. - The company is implementing measures to manage accounts receivable risks, ensuring timely collection and monitoring of customer payments [151]. - The company has received multiple awards for its quality management, including the Shandong Provincial Governor's Quality Award, reflecting its commitment to quality excellence [83]. - The company has a structured salary policy that includes basic salary, performance bonuses, and overtime pay, with adjustments based on market conditions and individual performance [194]. Shareholder Engagement and Governance - The company plans to distribute a cash dividend of 1.50 CNY per 10 shares, based on a total share count of 991,287,699 shares [12]. - The company has ensured that minority shareholders have had sufficient opportunities to express their opinions and protect their legal rights [198]. - The board consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements [162]. - The company held 7 board meetings and 7 supervisory meetings during the reporting period, ensuring compliance with governance standards [163][165]. - The company adheres to strict information disclosure practices, ensuring timely and accurate communication with investors [166]. Employee Development and Culture - The company has implemented a comprehensive training program aimed at enhancing employee skills and competencies, including new employee onboarding and ongoing training for existing staff [195]. - The company is building a talent reserve system to cultivate young talent, having recruited 74 graduates from key universities for its 2024 program [70]. - The company has 1,199 employees with a bachelor's degree or higher, representing approximately 24.3% of the total workforce [192]. - The employee stock ownership plan includes 385 employees holding a total of 3,619,449 shares, representing 0.36% of the company's total equity [200]. - The company has a total of 4,923 employees, with 3,297 in production, 1,023 in technical roles, and 250 in sales [192].

Investment Rating - The report maintains a "Buy" rating for several key companies in the industry, including Wanhuah Chemical, Hualu Hengsheng, and Yuntianhua, among others [6]. Core Insights - The report emphasizes the acceleration of domestic substitution in new materials, particularly in semiconductor quartz sand and glass materials, driven by the ongoing trade conflicts and tariff policies [8][10]. - It highlights the importance of stable market measures being implemented to support the chemical industry, including increased investment in key sectors and support for state-owned enterprises [8][10]. - The report identifies potential investment opportunities in various segments, including AI materials, electronic gases, and nylon, suggesting a focus on companies like Lianrui New Materials and Saint Quan Group [8][10]. Summary by Sections Market Overview - The total number of listed companies in the industry is 428, with a total market value of 32,783.26 billion and a circulating market value of 29,223.51 billion [3]. - The report notes a significant decline in the indices for basic chemicals and petrochemicals, with respective decreases of 5.1% and 5.8% as of April 11, 2025 [16]. Key Industry Trends - The report discusses the impact of tariff policies on domestic demand, particularly in the mining and construction sectors, which are expected to see increased investment [8]. - It also mentions the stabilization of oil prices, which is anticipated to create cost reduction opportunities for chemical products [8]. Company Recommendations - Specific companies are recommended based on their performance and market positioning, including Wanhuah Chemical, Hualu Hengsheng, and Yuntianhua, which are expected to benefit from favorable market conditions [6][8]. - The report suggests monitoring companies involved in the production of high-purity quartz sand and AI materials, as these sectors are poised for growth [8][10]. Price Trends - The report indicates that as of April 11, 2025, the average price of domestic industrial silicon is 10,507.0 yuan/ton, reflecting a week-on-week decrease of 1.3% and a year-on-year decrease of 21.3% [9]. - It also notes fluctuations in the prices of various chemical products, with some experiencing significant price increases while others have seen declines [22][23].

Investment Rating - The industry investment rating is "Recommended" (maintained) [1] Core Viewpoints - The chemical industry is expected to enter a replenishment cycle in 2025 due to several factors, including decreasing inventory levels, bottoming out of profits, and institutional holdings reaching a low point [8][30] - The supply-demand tension in phosphate rock is likely to continue, with a potential revaluation of its value, particularly focusing on the capacity expansion of Batian Co., Ltd [4][6] - The impact of the new round of tariffs imposed by the U.S. on Chinese chemical enterprises is expected to be limited, as the U.S. still needs to import a significant amount of chemical products from China [4] Summary by Sections Market Performance - The basic chemical sector showed a performance of 0.0% over the last month, 8.4% over the last three months, and 1.2% over the last year, compared to the CSI 300 index which had performances of -0.7%, 2.3%, and 8.2% respectively [2] Investment Suggestions - Focus on companies with low-cost expansion opportunities, such as Wanhu Chemical, and those in the tire and fertilizer sectors [8] - Highlight the potential for increased demand in phosphate fertilizers and lithium iron phosphate batteries, with ongoing projects in fine phosphate chemicals [4][6] - Emphasize high dividend yield opportunities in state-owned enterprises within the chemical sector, including China Petroleum and China National Offshore Oil Corporation [10] Key Company Tracking - Batian Co., Ltd. plans to expand its phosphate rock production capacity from 900,000 tons/year to 2 million tons/year, with additional projects underway [6] - The chemical industry is expected to benefit from rising prices in sulfuric acid, acrylic acid, and synthetic ammonia, with a focus on companies like Batian Co., Ltd. and others in the phosphate sector [7][9] Price Trends - As of April 3, 2025, the price of phosphate rock was 1,038 CNY/ton, with slight fluctuations in related fertilizer prices [19] - The Brent and WTI crude oil prices were reported at 66.06 and 62.32 USD/barrel, respectively, indicating a week-on-week decrease of approximately 9.98% and 9.73% [12]

2025 年 03 月 16 日 行业研究 评级：推荐(维持) 研究所： 证券分析师： 李永磊 S0350521080004 liyl03@ghzq.com.cn 证券分析师： 董伯骏 S0350521080009 dongbj@ghzq.com.cn 联系人 ： 仲逸涵 S0350123070022 zhongyh@ghzq.com.cn [Table_Title] 欧美 MDI 厂商发布涨价函，关注铬盐在军工领 域的应用 ——基础化工行业周报 最近一年走势 | 行业相对表现 | | | 2025/03/14 | | --- | --- | --- | --- | | 表现 | 1M | 3M | 12M | | 基础化工 | 4.1% | 0.5% | 9.7% | | 沪深 300 | 1.7% | 1.9% | 12.5% | 相关报告 《基础化工行业周报：振华股份铬盐价格上涨，中 策橡胶 IPO 过会（推荐）*基础化工*李永磊，董伯 骏》——2025-02-16 《基础化工行业周报：轮胎原材料价格指数走低， 赛轮轮胎拟扩建柬埔寨工厂（推荐）*基础化工*李 永磊，董伯骏》——2025-01-12 《基 ...

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。 山东国瓷功能材料股份有限公司（以下简称"公司"或"国瓷材料"）于近日 收到公司第一大股东、实际控制人张曦先生的通知，获悉张曦先生将其持有的 部分国瓷材料股份办理了股份新质押及解除质押的相关业务。具体情况如下： 一、本次股份新质押及解除质押的基本情况 证券代码：300285 证券简称：国瓷材料 公告编号：2025-007 山东国瓷功能材料股份有限公司 关于公司第一大股东、实际控制人股权新质押及解除质押的公告 2、股份解除质押 | 股东名称 | 是否为公司第 一大股东或实 | 解除质押股数 | 占其所持股份 | 占公司总股本 | 质押开始日期 | 解除质押日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 际控制人 | （股） | 比例 | 比例 | | | | | 张曦 | 是 | 6,670,000 | 4.360% | 0.669% | 2023.12.12 | 2025.03.06 | 中信证券股份有限 公司 | | 张曦 | 是 | 2 ...

证券代码：300285 证券简称：国瓷材料 公告编号：2025-006 山东国瓷功能材料股份有限公司 关于回购公司股份实施完成暨股份变动的公告 本公司及董事会全体人员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 山东国瓷功能材料股份有限公司（以下简称"公司"）于2024年2月5日召开第五届 董事会第十三次会议和第五届监事会第十三次会议，审议并通过了《关于继续回购公司 股份方案的议案》，公司使用自有资金以集中竞价交易的方式回购部分公司股份，用于 股权激励计划或员工持股计划。本次回购的资金总额不低于人民币10,000万元（含）且 不超过人民币20,000万元（含），回购价格不超过人民币25元/股（含）。回购股份的实 施期限自董事会审议通过本次回购股份方案之日起不超过12个月。本次回购股份事项在 董事会审批权限内，无须提交股东大会审议。具体详见公司于2024年2月6日、2024年2 月7日在中国证监会指定的创业板信息披露网站巨潮资讯网披露的《关于继续回购公司 股份方案的公告》（公告编号：2024-011）、《回购股份报告书》（公告编号：2024-012）。 截至本公告披露日，公司上述继 ...

山东国瓷功能材料股份有限公司 舆情管理制度 （2025 年 01 月） 第一章 总则 第一条 为提高山东国瓷功能材料股份有限公司（以下简称"公司"）应对 各类舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情对公 司股价、商业信誉及正常经营活动造成的影响，切实保护投资者合法权益，根据 《深圳证券交易所股票上市规则》等相关法律法规的规定及《山东国瓷功能材料 股份有限公司公司章程》（以下简称"《公司章程》"），结合公司实际情况， 制订本制度。 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面报道、不实报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； （三）可能或者已经影响社会公众投资者投资取向，造成股价异常波动的信 息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易价格产生较 大影响的事件信息。 第二章 舆情管理的组织体系及其工作职责 第三条 公司应对各类舆情实行统一领导、统一组织、快速反应、协同应对。 第四条 公司成立应对舆情处理工作领导小组（以下简称"舆情工作组"）， 由公司董事长任组长，总经理、董事会秘书担任副组长，成员由公司其他高级管 理 ...

证券代码：300285 证券简称：国瓷材料 公告编号：2025-004 为了加强和规范公司舆情管理工作，进一步规范公司舆情管理行为，维护公司及 广大投资者合法权益，根据《公司法》《证券法》《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》等有关法律法规、规范性文件及《公司章 程》，结合公司实际情况制定《舆情管理制度》。 表决结果：同意3 票，反对0 票，弃权0 票，获得通过。 特此公告！ 山东国瓷功能材料股份有限公司（以下简称"公司"或"国瓷材料"）于 2025 年 01 月 16 日以邮件形式发出了《第五届监事会第二十次会议的通知》。本次会议于 2025 年 01 月 19 日在公司会议室以现场会议和通讯会议的方式召开。会议应出席监事 3 名， 实际出席监事 3 名。本次会议的召集、召开符合《公司法》及《公司章程》的有关规 定，会议合法有效。本次会议由监事会主席温长云先生主持。 本次监事会对以下议案内容进行了表决，表决情况如下： 一、审议通过了《关于制定<舆情管理制度>的议案》 山东国瓷功能材料股份有限公司 第五届监事会第二十次会议决议公告 本公司及监事会全体人员保证信息披露的内容真实 ...

山东国瓷功能材料股份有限公司 第五届董事会第二十次会议决议公告 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。 证券代码：300285 证券简称：国瓷材料 公告编号：2025-003 2025 年 01 月 20 日 山东国瓷功能材料股份有限公司（以下简称"公司"或"国瓷材料"）于 2025 年 01 月 16 日以邮件形式发出了《第五届董事会第二十次会议的通知》。本次会议于 2025 年 01 月 19 日在公司会议室以现场会议和通讯会议的方式召开。会议应出席董事 9 名，实际出席董事 9 名，公司监事和高级管理人员列席了会议。本次会议的召集、召 开符合《中华人民共和国公司法》及《公司章程》的有关规定，会议合法有效。本次 会议由董事长张曦先生主持。 本次董事会对以下议案内容进行了表决，表决情况如下： 一、审议通过了《关于制定<舆情管理制度>的议案》 为了加强和规范公司舆情管理工作，进一步规范公司舆情管理行为，维护公司及 广大投资者合法权益，根据《公司法》《证券法》《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》等有关法律法规、规范性文件及《 ...