江苏裕兴薄膜科技股份有限公司 投资者调研会议纪要 时间：2016年03月02日 地点：裕兴股份102会议室 参会人员： 裕兴股份：董秘 陈琼 、证券事务代表 王长勇 投资者：申万宏源 李辉 1、公司战略方向和增长点 公司未来的战略主要是产品结构的调整、开拓新产品和新的应用行业,同时 公司也正在积极的寻找好的行业和项目，内涵与外延发展并重的方式，努力使 公司保持可持续发展。通过公司这些年的发展，我们发现 PET 拓展用途层出不 穷，随时在发生颠覆发展，PET 领域前景还是十分光明。 2、公司怎么看今年光伏基膜行业 今年的光伏基膜行业我们预计还是会保持平稳增长，未来一两年不会有大 的变动，我们对这个行业持审慎的乐观态度。由于公司在光伏行业的先发和品牌 还不错，所以公司当前订单方面还是充足的。双玻组件目前对背板市场影响不是 1 很大，尽管双玻组件在有些性能方面具有优势，但是相比薄膜组件也是有一些 弱势的，况且双玻组件的发展还尚未进入成熟阶段。 3、董事长增持和股权激励的问题 董事长增持 35 万股公司股票，是基于对公司未来发展前景和长期投资价 值的充足信心，同时也是为积极响应中国证监会的号召，维护公司股价稳定。公 ...

江苏裕兴薄膜科技股份有限公司 投资者调研会议纪要 时间：2016年05月19日 地点：裕兴股份102会议室 参会人员： 投资者：中银国际证券 马太、中国人寿资产管理 阳宜洋 裕兴股份：董秘 陈琼 、证券事务代表 王长勇 1、公司战略方向和增长点 公司未来的战略:在国家产业政策积极鼓励大力发展战略性新兴产业、产品行 业需求迫切的现状下，公司将专注于功能聚酯薄膜的研发、生产和销售，以市场 需求为导向，创新和优化产品的功能，做强裕兴品牌，力争做中国最好的中厚 型功能聚酯薄膜供应商。同时，公司将以内生增长和外延扩展相结合的方式，以 聚酯薄膜为基础，整合上下游产业链的优势资源，实现公司的持续发展。 内生增长方面,未来公司会向聚酯薄膜的上下游去努力拓展。重点在上游方 面，通过原材料的开发，实现功能聚脂薄膜产品结构调整,做深做细，提高公司 1 产品毛利率，市场占有率以及的市场竞争力。 关于光学基膜的生产不单单是技术问题，还要综合性管理和设备的提升， 目前国内行业在这方面还有很长的一段路要走。 2、公司怎么看今年光伏基膜行业 今年的光伏基膜行业我们预计还是会保持平稳增长，未来一两年不会有大 的变动，我们对这个行业持审慎的乐观 ...

江苏裕兴薄膜科技股份有限公司 投资者调研会议纪要 时间：2021 年 1 月 11 日 地点：裕兴股份 101 会议室 参会人员： 投资者：北大方正人寿 裕兴股份：董事会秘书刘全，证券事务代表王长勇 会议纪要： 1、公司业绩增长的原因 公司新生产线投产后产能释放，下游行业需求增加，公司聚酯薄膜产销量 及营业收入实现增长；公司积极增销特色膜和新产品，产品毛利率提高。受益 于上述原因，公司业绩实现增长。 2、公司产能、产品、下游客户及竞争对手情况 公司目前拥有七条中厚型聚酯薄膜生产线，年产能约十二万吨左右；公司 1 聚酯薄膜产品主要应用于太阳能光伏、电气绝缘、消费电子等工业领域；下游 客户主要集中于太阳能光伏背板、电气绝缘、电子材料等行业；公司目前行业 内竞争对手主要有双星新材、东材科技、南洋科技等上市公司。 3、聚酯薄膜行业发展情况及公司如何看待光伏背板行业 目前功能聚酯薄膜行业总体规模快速增长，行业内各家企业纷纷投资建设 新生产线，扩大产能规模，业内竞争日益激烈。国家"十四五"规划及配套相 关政策鼓励发展太阳能等清洁能源，以及 5G 应用、万物互联带动电子产品的 更新换代，我们预计功能聚酯薄膜行业未来仍将保持 ...

江苏裕兴薄膜科技股份有限公司 投资者调研活动会议纪要 国盛资管 袁银泉 永赢基金 王克道 会议时间：2021 年 11 月 17 日 13:30~14:30 会议方式：电话会议 参会人员： 投资者： | --- | --- | --- | --- | --- | |-------------------------|--------------|--------|--------------|--------| | | | | | | | 中泰证券 苏晨 | 民生加银基金 | 金耀 | 圆石投资 | 谭中豪 | | 中庚基金 吕佩瑾 | 平安保险 | 秦石 | 兴全基金 | 王中进 | | 中银证券资管 张丽新 | 趣时投资 | 翁亶 | 浦银安盛基金 | 褚艳辉 | | 中融基金 吴刚 | 前海人寿保险 | 卢俊有 | 浦银安盛基金 | 杨达伟 | | 中信建投基金 叶天鸣 | 海富通基金 | 伊群勇 | 融通基金 | 李文海 | | 盛松投资 王小松 | 安邦保险 | 李超 | 融通基金 | 任涛 | | 创金合信 谢天卉 | 安华农业保险 | 张放 | 鹏华基金 | 苏东 | | 北大方正人寿 陆晓菁 ...

| --- | --- | |------------------------|-------------------------------------------------------| | | 江苏裕兴薄膜科技股份有限公司 \n投资者调研活动会议纪要 | | | | | 会议时间： 2022 年 | 日 15:30 ~ 17:00 | | 会议方式：电话会议交流 | | | 参会人员： | | | 投资者： | | | 汇添富基金-胡奕； | 兴全基金-陈红； | | 汇添富基金 - 胡静霆； | 兴全基金 - 葛兴浪； | | 汇添富基金 - 孙丹； | 兴全基金-翟秀华。 | 公司： 刘 全 总经理、董事会秘书； 缪敬昌 副总经理； 王长勇 财务总监、证券事务代表。 会议纪要 1、公司基本情况介绍 公司是一家专注于功能聚酯薄膜制造的高新技术企业，主要业务为中厚型特 种功能性聚酯薄膜的研发、生产和销售，是国内规模最大的中厚型特种功能性聚 酯薄膜生产企业之一。公司生产的特种功能性聚酯薄膜产品广泛应用于新能源、 电子光学、电气绝缘等工业领域，厚度 50-500μm 之间，具备优异的尺寸稳定性 能、绝缘性 ...

江苏裕兴薄膜科技股份有限公司 投资者调研活动会议纪要 投资者： 会议时间：2022 年 5 月 24 日 15:00~16:00； 2022 年 5 月 25 日 15:00~16:00。 会议方式：电话会议交流 参会人员： | --- | --- | --- | |-------------------------|-------------------------|-----------------------| | | | | | 中信保诚基金 - 葛帅； | 江苏时盈投资 - 邓鹏怡； | 广发证券 - 范卓宇； | | 焱牛投资 - 周洁钦； | 工银瑞信基金 - 晏珅熔； | 广发证券 - 于洋； | | PinPoint Group- 李璇； | 永赢基金 - 慎胜杰； | 浙商证券 - 李博华； | | 中信证券 - 王勃竣； | 国华人寿保险 - 赵翔； | 天风证券 - 李由； | | 中信证券 - 郭羽； | 光大保德信 - 华叶舒； | 天风证券 - 张文星； | | 国泰基金 - 秦培栋； | 光大保德信 - 黄波； | 广发基金 - 李骁； | | 交银理财 - 郭敏； | 光大保 ...

江苏裕兴薄膜科技股份有限公司 投资者调研活动会议纪要 宝盈基金-赵国进； 申万菱信基金-王瀚； 会议时间：2022 年 4 月 28 日 14:00~15:00 2022 年 4 月 28 日 15:00~16:00 会议方式：电话会议。裕兴股份-中信证券电话交流会；裕兴股份-长信基金电话 交流会 参会人员： 投资者： | --- | --- | --- | |---------------------|-----------------------|---------------------| | | | | | 中信证券 - 王喆； | 国寿养老-鲁嘉琪； | 太平基金-田发祥； | | 中信证券-姚光夫； | 弘毅远方基金-黄振东； | 万丰友方-张荣福； | | 中信证券-张天舒； | 华夏基金-吴凡； | 禹合资管 - 周海霞； | | 中信证券 - 伍昱霖； | 诺安基金-张立； | 巴沃资管-陈承尚； | | 中信证券-郭羽； | 融通基金-李冠頔； | 中欧基金-朱晨杰； | | 长信基金-何增华； | 珈元资管 - 汪元刚； | 中银国际-陈冠雄； | | 长信基金 - 倪伟； | 朴易资管 ...

江苏裕兴薄膜科技股份有限公司 投资者调研活动会议纪要 会议时间：2022 年 6 月 1 日 15:00~16:00； 2022 年 6 月 2 日 15:45~17:00。 会议方式：电话会议交流 参会人员： 投资者： 汇添富基金-林炜； 汇添富基金-蔡志文 中信建投证券-王吉颖； 中信建投证券-陈思同； 中信建投基金-周紫光； 中信建投基金-冯天成； 中邮创业基金-白鹏。 中信建投证券-朱玥； 公司： 刘 全 总经理、董事会秘书； 王长勇 财务总监、证券事务代表。 会议纪要 1、公司基本情况介绍 公司是一家专注于功能聚酯薄膜制造的高新技术企业，主要业务为中厚型特 种功能性聚酯薄膜的研发、生产和销售，是国内规模最大的中厚型特种功能性聚 酯薄膜生产企业之一。公司生产的特种功能性聚酯薄膜产品广泛应用于新能源、 电子光学、电气绝缘等工业领域，厚度 50-500μm 之间，具备优异的尺寸稳定性 能、绝缘性能、耐热性能、耐候性能和光学性能等。 公司功能聚酯薄膜产品主要集中于三大应用领域：（1）新能源应用领域， 公司太阳能光伏用聚酯薄膜收入占总营业收入的 65%左右，动力电池用聚酯薄膜 收入占总营业收入 5%左右；（2 ...

Revenue and Profit - Revenue for Q3 2022 reached ¥516,045,658.59, an increase of 40.82% compared to the same period last year, and a total of ¥1,371,354,278.87 for the year-to-date, up 35.51%[6] - Net profit attributable to shareholders decreased by 58.66% to ¥27,651,789.94 for Q3 2022, and year-to-date net profit decreased by 32.90% to ¥130,871,284.87[6] - Basic earnings per share for Q3 2022 were ¥0.0973, down 58.96% year-on-year, with diluted earnings per share also at ¥0.0973, a decrease of 58.96%[6] - The net profit for Q3 2022 was CNY 130,871,284.87, a decrease of 32.8% compared to CNY 195,031,571.32 in Q3 2021[46] - The operating profit for Q3 2022 was CNY 154,627,152.41, down from CNY 228,887,917.11 in the same period last year, reflecting a decline of 32.4%[46] - The company reported a total profit of CNY 152,892,363.80 for Q3 2022, down from CNY 228,554,346.01 in the same quarter last year, marking a decline of 33.1%[46] Assets and Liabilities - Total assets increased by 45.54% to ¥3,088,240,055.67 compared to the end of the previous year[6] - The company's total assets as of September 30, 2022, were ¥3,088,240,055.67, compared to ¥2,121,907,514.98 at the beginning of the year, reflecting a growth of 45.6%[44] - Current assets totaled ¥1,549,671,175.81, a significant increase of 38.3% from ¥1,120,986,527.58 at the start of the year[43] - Non-current assets reached ¥1,538,568,879.86, up 53.5% from ¥1,000,920,987.40 at the beginning of the year[43] - The company's total liabilities increased to ¥1,123,615,042.25, compared to ¥303,889,580.14 at the start of the year, marking a rise of 270%[44] Cash Flow - The company’s cash flow from operating activities decreased by 49.79% year-to-date, totaling ¥51,931,669.34[6] - The cash flow from operating activities decreased by 49.79% compared to the same period last year, amounting to a net cash flow of -51.50 million yuan, primarily due to increased cash expenditures for raw material purchases[29] - Cash flow from operating activities generated a net amount of CNY 51,931,669.34, a decrease of 49.8% from CNY 103,432,847.28 in the previous year[48] - The cash received from tax refunds increased by 1,910.24%, totaling 67.55 million yuan, mainly due to an increase in VAT refunds[29] - Cash paid for purchasing goods and services rose by 48.02%, amounting to 202.66 million yuan, attributed to higher cash outflows for raw material procurement[29] - Cash flow from financing activities resulted in a net increase of CNY 521,865,219.76, compared to a net decrease of CNY -137,122,926.75 in Q3 2021[49] Investment and Expenditures - The cash paid for the construction of fixed assets and intangible assets increased by 175.44%, amounting to 294.44 million yuan, mainly due to increased expenditures on production line projects[32] - The company’s cash flow from investment activities decreased by 5,443.84%, totaling -529.39 million yuan, primarily due to reduced net redemptions of financial products and increased expenditures on production line projects[32] - Total cash inflow from investment activities was CNY 421,110,541.17, compared to CNY 860,978,206.32 in the prior year, indicating a significant drop of 51.1%[48] - The net cash flow from investment activities was negative at CNY -519,669,333.82, contrasting with a positive CNY 9,724,634.81 in the same period last year[49] Research and Development - Research and development expenses rose by ¥12,978,100, an increase of 34.57%, due to higher investment in new product development[25] - Research and development expenses increased to ¥50,522,138.80, representing a 34.5% rise from ¥37,544,076.16 in the previous year[45] Production Capacity and Projects - The company is actively advancing the construction of a project with an annual production capacity of 250,000 tons of functional polyester special films[38] - As of the reporting period, two production lines for high-end functional polyester films with an annual capacity of 500 million square meters have been completed and are in operation[38] Shareholder Information - The company’s total number of ordinary shareholders at the end of the reporting period was 14,306[36] Market Strategy - The company plans to continue expanding its market presence and invest in new product development to drive future growth[45]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥855,308,620.28, representing a 32.50% increase compared to ¥645,505,556.72 in the same period last year[21]. - The net profit attributable to shareholders of the listed company decreased by 19.45% to ¥103,219,494.93 from ¥128,137,173.23 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥98,251,575.66, down 18.84% from ¥121,060,405.12 in the previous year[21]. - Basic earnings per share decreased by 17.67% to ¥0.3654 from ¥0.4438 in the previous year[21]. - The gross profit margin decreased by approximately nine percentage points compared to the same period last year due to various market pressures[34]. - The company reported a total revenue of 202,266 thousand RMB for the first half of 2022, representing a 10.6% increase compared to 223,663 thousand RMB in the same period of the previous year[87]. - The company reported a total of 1,572,471,394.85 in current assets, up from 1,120,986,527.58, marking an increase of 40.29%[149]. - The total comprehensive income attributable to the parent company was CNY 103.22 million, down from CNY 128.14 million, indicating a decline of 19.4%[161]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥54,948,777.15, a decline of 164.34% compared to -¥20,786,856.36 in the same period last year[21]. - The company's cash and cash equivalents increased by 271.61% to ¥184,000,998.16, primarily due to the issuance of convertible bonds[48]. - The cash interest coverage ratio dropped significantly to -21.10 from 2.75, indicating a decline of 866.83%[145]. - The company's current ratio decreased to 4.09 from 4.45, a decline of 8.09%[145]. - The total liabilities increased to CNY 956.56 million from CNY 303.66 million, representing a growth of 214.5%[155]. - The company reported a cash outflow of 501,499,248.84 CNY from operating activities, which is higher than 408,259,476.82 CNY in the same period of 2021, indicating increased operational costs[166]. Investment and R&D - Research and development expenses increased by 46.13% to ¥31,947,295.15, compared to ¥21,861,508.90, reflecting higher investment in new product development and testing[48]. - The company has established stable partnerships with research institutions, including Zhejiang University and Changzhou University, to enhance its R&D capabilities in polymer films[44]. - The company is actively developing new products and adjusting its product structure to meet market demands[76]. - Investment in R&D has increased by 30%, focusing on the development of new technologies and products to enhance competitive advantage[95]. Market and Competitive Position - The company is actively promoting specialty films and new products, maintaining a leading position in the solar backsheet and textile yarn base film markets[34]. - The company has established a strong market position in the electrical insulation and electronic materials sectors, with steady growth in sales[34]. - The company has become one of the largest manufacturers of medium-thick special functional polyester films in China, leveraging the advantages of the Yangtze River Delta industrial chain[42]. - The company plans to expand its market presence through new product development and technology advancements[57]. Risks and Challenges - The company faces risks including raw material price fluctuations and increased market competition, which may impact future performance[4]. - The company faces risks from fluctuations in raw material prices, particularly polyester chips, which could impact cost control[74]. - The company will not distribute cash dividends or issue bonus shares for the half-year period[84]. - The company faces risks related to the cyclical nature of the solar energy industry, which could impact overall sales if market conditions fluctuate[75]. Corporate Governance and Compliance - The company has adhered to legal and regulatory requirements, ensuring accurate and timely information disclosure to investors[90]. - The company has committed to avoiding any competition with its subsidiaries and has not engaged in any competitive activities in China or abroad[94]. - The company has pledged to disclose any unfulfilled commitments and provide alternative commitments to protect shareholder rights[94]. - The company has not reported any changes in the use of raised funds, maintaining a 0.00% change ratio[61]. Shareholder Information - The total number of shares outstanding is 288,753,000, with 19.45% held as restricted shares and 80.55% as unrestricted shares[122]. - Major shareholders include Wang Jianxin with 23.62% and Beijing Renshi Real Estate Development Group with 13.62%[125]. - The company has 14,131 total shareholders at the end of the reporting period[125]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the first half of 2022, representing a year-on-year growth of 20%[95].