证券代码：300285 证券简称：国瓷材料 公告编号：2024-043 山东国瓷功能材料股份有限公司 《公司 2024 年第一季度报告》详见中国证监会指定的创业板信息披露网站，季 度报告披露提示性公告将同时刊登于《中国证券报》《证券时报》和《上海证券 报》。 表决结果：9 票赞成，0 票反对，0 票弃权，获得通过。 特此公告！ 山东国瓷功能材料股份有限公司 董 事 会 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 2024 年 4 月 22 日以邮件形式发出了《山东国瓷功能材料股份有限公司关于召开第五届董 事会第十五次会议的通知》。本次会议于 2024 年 4 月 25 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。本次会议由公司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《关于公司 ...

第五届监事会第十五次会议决议公告 本公司及监事会全体人员保证信息披露的内容真实、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 2024 年 4 月 22 日以邮件形式发出了《山东国瓷功能材料股份有限公司关于召开第五届监事会 第十五次会议的通知》。本次会议于 2024 年 4 月 25 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。本次会议由公司监事会 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《关于公司 2024 年第一季度报告的议案》 证券代码：300285 证券简称：国瓷材料 公告编号：2024-044 山东国瓷功能材料股份有限公司 具体内容详见中国证监会指定创业板信息披露网站披露的相关公告。 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 监事会 2024 年 4 月 26 日 经审核，监事会认为《公司202 ...

Financial Performance - The company's operating revenue for Q1 2024 was ¥826,664,278.32, representing a 5.23% increase compared to ¥785,594,173.64 in the same period last year[3]. - Net profit attributable to shareholders for Q1 2024 was ¥133,363,046.02, up 7.99% from ¥123,491,288.49 in the previous year[3]. - The net profit after deducting non-recurring gains and losses increased by 20.04%, reaching ¥120,896,716.20 compared to ¥100,711,723.09 in Q1 2023[3]. - Basic and diluted earnings per share for Q1 2024 were both ¥0.13, an increase of 8.33% from ¥0.12 in Q1 2023[3]. - The company reported a significant increase in cash received from operating activities, totaling ¥57,892,462.91, which is a 271.18% increase from ¥15,596,672.71 in the previous year[6]. - In Q1 2024, the company reported a net profit of ¥146,464,390.24, an increase of 10.9% compared to ¥131,930,894.46 in Q1 2023[19]. - The operating profit for Q1 2024 was ¥163,546,272.41, up from ¥146,181,897.18 in the same period last year, reflecting a growth of 11.9%[19]. - The company achieved total operating revenue of ¥685,986,894.05 in Q1 2024, compared to ¥625,486,162.22 in Q1 2023, representing a growth of 9.7%[22]. - The company reported a total comprehensive income of ¥143,276,333.41 for Q1 2024, compared to ¥136,034,708.21 in Q1 2023, reflecting an increase of 5.3%[20]. Cash Flow and Financial Position - The net cash flow from operating activities improved significantly to ¥33,767,955.23, a 211.09% increase from a negative cash flow of -¥30,396,307.15 in the same period last year[3]. - The cash flow from operating activities was positive at ¥33,767,955.23, a significant improvement from a negative cash flow of -¥30,396,307.15 in the previous year[22]. - The cash and cash equivalents decreased to RMB 631,836,637.77 from RMB 718,817,804.32, a decline of approximately 12.1%[14]. - Cash and cash equivalents at the end of Q1 2024 totaled 509,876,496.63, down from 576,385,562.81 at the beginning of the quarter[23]. - The net decrease in cash and cash equivalents for Q1 2024 was -66,509,066.18, compared to -121,167,223.88 in the same quarter last year[23]. - The impact of exchange rate changes on cash and cash equivalents was 438,864.50 in Q1 2024, contrasting with -2,371,180.08 in Q1 2023[23]. Assets and Liabilities - Total assets at the end of Q1 2024 were ¥8,929,140,383.80, reflecting a 1.70% increase from ¥8,779,636,883.28 at the end of the previous year[3]. - The total liabilities increased slightly to RMB 1,999,553,937.86 from RMB 1,993,326,770.74, showing a marginal rise of 0.1%[17]. - The company's equity attributable to shareholders rose to RMB 6,443,318,561.17 from RMB 6,313,158,110.27, reflecting an increase of approximately 2.1%[17]. Shareholder Information - Major shareholder Zhang Xi holds 20.21% of shares, with a total of 202,848,941 shares pledged at 105,918,300 shares[8]. - Hong Kong Central Clearing Limited holds 11.01% of shares, totaling 110,525,946 shares[9]. - The total number of shares held by major shareholders with unrestricted conditions includes 110,525,946 shares from Hong Kong Central Clearing Limited[9]. - The total number of restricted shares held by Zhang Xi decreased to 152,136,706 shares after 7,500,000 shares were released from restriction[11]. - The total number of shares held by Dongying Aoyuan Industrial Co., Ltd. is 41,047,601, representing 4.09% of the total share capital[10]. - The total number of shares held by the top ten unrestricted shareholders is 193,098,452 shares after the release of restrictions[11]. - The company has not disclosed any related party relationships or concerted action agreements among the top ten shareholders[9]. Corporate Actions and Plans - The company plans to adjust the third employee stock ownership plan, changing the source of shares to be acquired from the secondary market[12]. - The company intends to change the purpose of repurchased shares from employee stock ownership plans to cancellation and reduction of registered capital[12]. - The company plans to repurchase shares with a total amount not less than RMB 100 million and not exceeding RMB 200 million, with a repurchase price not exceeding RMB 25 per share[13]. - The company established 5 new subsidiaries during the reporting period, including InnoXvest Corporation and InnoXvest Dental Limited[13]. - The company is restructuring its subsidiary Shenzhen Aierchuang Technology Co., Ltd. to establish a suitable equity structure for overseas financing[13]. Expenses - The total operating costs for Q1 2024 were RMB 680,159,235.28, up from RMB 651,585,721.94 in the previous year, reflecting a year-on-year increase of 4.3%[18]. - Research and development expenses increased to ¥61,808,870.22, compared to ¥56,779,080.59 in Q1 2023, marking a rise of 8.9%[19]. - Sales expenses rose to ¥44,524,284.37 in Q1 2024, compared to ¥38,627,424.70 in Q1 2023, an increase of 15.3%[19]. - The financial expenses decreased by 46.59% to ¥5,798,317.54 compared to ¥10,856,881.72 in the same period last year, due to increased foreign exchange gains[6]. - The company’s financial expenses decreased to ¥5,798,317.54 from ¥10,856,881.72 in the previous year, a reduction of 46.6%[19]. Investment and Cash Flow Activities - The net cash flow from investing activities for Q1 2024 was -95,526,369.92, compared to -344,740,435.61 in the same period last year[23]. - The net cash flow from financing activities was -5,189,515.99, a significant decrease from 256,340,698.96 in Q1 2023[23]. - The company received 50,000,000.00 in cash from borrowings during Q1 2024, compared to 268,328,295.99 in the previous year[23]. - The cash outflow for debt repayment was 47,559,327.66, an increase from 10,500,000.00 in Q1 2023[23]. Accounting and Audit - The company has not yet adopted the new accounting standards for the first quarter of 2024[23]. - The Q1 2024 report has not been audited[24].

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2] Core Views - The company achieved a revenue of 3.859 billion yuan in 2023, representing a year-on-year growth of 21.86%, and a net profit attributable to the parent company of 569 million yuan, which is a 14.50% increase year-on-year [6][9] - The electronic materials segment generated revenue of 598 million yuan, accounting for 15.51% of total revenue, with a gross margin of 37.58% [6][9] - The catalyst materials segment achieved revenue of 715 million yuan, representing 18.53% of total revenue, with a gross margin of 42.90% [6][9] - The biomedical materials segment reported revenue of 855 million yuan, making up 22.15% of total revenue, with a gross margin of 60.34% [6][9] - The company is actively enhancing its product layout across various segments, including electronic materials, catalyst materials, biomedical materials, and precision ceramics [5][6] Summary by Sections Financial Performance - In 2023, the company reported total revenue of 3.859 billion yuan and a net profit of 569 million yuan, with respective year-on-year growth rates of 21.86% and 14.50% [6][9] - The projected net profits for 2024, 2025, and 2026 are estimated at 750 million yuan, 919 million yuan, and 1.115 billion yuan, respectively [5][9] Segment Analysis - The catalyst materials segment is expected to generate sales of 1.117 billion yuan in 2024, with a gross margin of 43.00% [7] - The biomedical materials segment is projected to achieve sales of 672 million yuan in 2024, maintaining a gross margin of 60.00% [7] - The electronic materials segment is forecasted to have sales of 1.079 billion yuan in 2024, with a gross margin of 38.00% [7] Valuation and Forecast - The reasonable valuation for the company is estimated at a PE ratio of 25-30 times for 2024, translating to a fair value range of 18.75 to 22.50 yuan per share [5][6] - The company is expected to maintain a gross margin of around 38.3% to 39.3% from 2024 to 2026 [9][10]

2024 年 04 月 23 日 公司研究 评级：买入 (维持 ) 研究所： 证券分析师： 李永磊 S0350521080004 营收净利同比增长，[Ta 多ble 板_T 块itle] 营收景气度恢复 liyl03@ghzq.com.cn 证券分析师： 董伯骏 S0350521080009 dongbj@ghzq.com.cn ——国瓷材料（ ） 年年报点评 300285 2023 证券分析师： 贾冰 S0350524030003 jiab@ghzq.com.cn 最近一年走势 事件 : 2024年4月19日，国瓷材料发布2023年年度报告：2023年实现营业 收入38.59亿元，同比增长21.86%；实现归母净利润5.69亿元，同比 增长14.50%；实现扣非归母净利润5.42亿元，同比增长15.34%；销售 毛利率 38.65%，同比上升 3.76pct，销售净利率 16.09%，同比下降 0.55pct；经营活动现金流净额为6.45亿元，同比增加4.41亿元，主要 是因为本期的回款增加。 2023Q4 单季度，公司实现营业收入10.72 亿元，同比+48.10%，环比 +14.43%；实现归母净利润为 ...

Investment Rating - The report maintains a "Strong Buy" rating for Guocera Materials [1][2]. Core Views - Guocera Materials has shown good business growth, driven by multiple segments as a platform-type enterprise, indicating long-term growth potential [1][2]. - The company reported a revenue of 3.859 billion yuan in 2023, a year-on-year increase of 21.86%, and a net profit of 569 million yuan, up 14.50% year-on-year [1][2]. - The company plans to distribute a cash dividend of 1 yuan per 10 shares (tax included) [1]. Summary by Relevant Sections Business Performance - The electronic materials segment saw a revenue increase of 16.08% to 598 million yuan due to a recovery in MLCC dielectric powder demand [1]. - The catalytic materials segment experienced significant growth, with a revenue increase of 74.25% to 715 million yuan, driven by domestic substitution of products like honeycomb ceramic carriers [1]. - The biomedical materials segment also grew by 13.35% to 855 million yuan, supported by international expansion efforts [1]. - Other segments, including new energy materials and precision ceramics, also reported revenue growth [1]. Profitability Metrics - The overall gross margin improved by 3.76 percentage points to 38.65% in 2023, while the net profit margin slightly decreased by 0.55 percentage points to 16.09% due to increased period expenses [1]. Future Growth Directions - Guocera Materials is evolving into a diversified new materials platform, focusing on high-end ceramic products and expanding into new technologies [1]. - The new energy materials segment is developing core materials for lithium batteries, while the precision ceramics segment is enhancing product competitiveness [1]. Financial Forecast - The company is projected to achieve net profits of 737 million yuan, 934 million yuan, and 1.12 billion yuan for the years 2024, 2025, and 2026, respectively, with corresponding EPS of 0.73, 0.93, and 1.12 yuan [2][7]. - The current stock price corresponds to P/E ratios of 26, 20, and 17 for the years 2024, 2025, and 2026 [2].

Investment Rating - The report maintains an "Outperform" rating for the company [6][8]. Core Views - The company reported a revenue of approximately 3.859 billion yuan in 2023, representing a year-over-year increase of 21.86%, with a net profit of 569 million yuan, up 14.5% year-over-year. The fourth quarter of 2023 saw a revenue of 1.072 billion yuan, marking a 27.58% year-over-year increase [6][8]. - The report highlights significant growth potential in the catalytic materials and precision ceramics segments for 2024, with expectations of at least 50% growth in honeycomb ceramics sales [6][7]. - The company is actively expanding its overseas market presence, particularly in the biomedical sector, which is expected to contribute to stable growth [7]. Summary by Sections Financial Performance - In 2023, the company achieved a total revenue of approximately 3.859 billion yuan, with a net profit of 569 million yuan. The gross margin improved by 3.76 percentage points to 38.65% [6][8]. - The company’s earnings per share for 2023 was 0.57 yuan, with a projected increase to 0.73 yuan in 2024 [8][9]. Business Segments 1. **Electronic Materials**: Revenue reached approximately 598 million yuan in 2023, with a year-over-year growth of 16.08%. The company expects continued growth in MLCC powder sales due to domestic demand [7]. 2. **Catalytic Materials**: This segment saw a revenue increase of 74.25% to about 715 million yuan in 2023, driven by strong performance in honeycomb ceramics [7]. 3. **Biomedical Sector**: Revenue was approximately 855 million yuan, with a growth of 13.35%. The company is focusing on expanding its export capabilities [7]. 4. **Precision Ceramics**: The segment is expected to generate over 500 million yuan in revenue in 2024, benefiting from new applications in various industries [7]. 5. **Building Ceramics**: Revenue for 2023 was about 1.083 billion yuan, with a year-over-year increase of 6.83% [7]. Earnings Forecast - The company forecasts net profits of approximately 734 million yuan in 2024, 932 million yuan in 2025, and 1.181 billion yuan in 2026, reflecting a growth trajectory across its business segments [8][9].

%% research.95579.com %% 丨证券研究报告丨 公司研究丨点评报告丨国瓷材料（ ） 300285.SZ [Table_Title] 主业拐点向上，新业务迈入放量期 报告要点 [公Ta司bl发e_布Su2m0m23ary年]报，实现收入 38.6 亿元（同比+21.9%），实现归属净利润 5.7 亿元（同比 +14.5%），实现归属扣非净利润5.4亿元（同比+15.3%）。其中Q4单季度实现收入10.7亿元 （同比+48.1%，环比+14.4%），实现归属净利润1.3亿元（同比+220.4%，环比+5.2%），实现 归属扣非净利润1.4亿元（同比+128.2%，环比+15.7%）。2023年度，公司拟每10股派发现 ...

股 票 研 究 [Table_industryInfo] 基础化工/原材料 [ Table_Main[国ITnaf 瓷bol]e 材_Ti料tle]( 300285) [评Tab级le_：Inv est] 增持 上次评级： 增持 业绩符合预期，平台型企业多元矩阵增长接力 目标价格： 22.61 上次预测： 25.00 公 ——国瓷材料2023 年年报点评 当前价格： 18.95 司 钟浩(分析师) 周志鹏(分析师) 2024.04.20 更 021-38038445 021-38676666 [交Ta易bl数e_M据a rket] 新 zhonghao027638@gtjas.co zhouzhipeng027980@gtjas.com 报 证书编号 mS0 880522120008 S0880523060004 5 总2 市周 值内 （股 百价 万区 元间 ）（ 元） 16.43 1- 93 ,1 0. 200 2 告 本报告导读： 总股本/流通A股（百万股） 1,004/811 流通 B股/H股（百万股） 0/0 公司23Q4业绩符合预期，2024年催化材料持续发力、精密陶瓷放量元年，我们看好 流通股比例 ...

IBDO ? 立信会计师事务所(特殊普通合伙) BDO CHINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTANTS LLP 募集资金年度存放与使用情况鉴证报告 本所函件编号:信会师报字[2024]第ZC10287号 山东国瓷功能材料股份有限公司全体股东: 我们鉴证了后附的山东国瓷功能材料股份有限公司(以下简称 "国瓷公司")董事会编制的2023年度《关于公司募集资金存放与实际 使用情况的专项报告》(以下简称"募集资金专项报告")。 一、对报告使用者和使用目的的限定 本鉴证报告仅供国瓷公司年度报告披露时使用,不得用作任何其 他目的。我们同意将本鉴证报告作为国瓷公司年度报告的必备文件, 随同其他文件一起报送并对外披露。 二、董事会的责任 国瓷公司董事会的责任是按照中国证券监督管理委员会《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》(证 监会公告〔2022〕15号)、《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》以及《深圳证券交易所创业板 上市公司自律监管指南第2号 -- 公告格式》的相关规定编制募集资 金专项报告。这种责任包 ...