| | 补充流动资金； | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 2、公司 2022 年公开发行可转债部分 | | | | | | | | | | | | | 募投项目（乌兰察布南大微电子材料 | | | | | | | | | | | | | 有限公司年产 电子级三氟化氮 7200T | | | | | | | | | | | | | 项目）延期 | | | | | | | | | | | | （3）关注事项的进展或者整改情况 | 1、公司于 2024 年 4 月 8 日召开第八 | | | | | | | | | | | | | 届董事会第二十九次会议、第八届监 | | | | | | | | | | | | | 事会第二十七次会议，于 2024 年 5 | | | | | | | | | | 月 | | | 日召开 2023 年度股东大会，审议通 | 7 | | | | | | | | | | | | 过了《关于部分募投项目结项并将节 | | | ...

Group 1 - The core viewpoint of the news highlights the performance of the semiconductor sector, particularly the rise of the SMIC concept stock, which increased by 3.86%, ranking fifth among concept sectors [1] - In the semiconductor sector, 66 stocks rose, with notable performers including Kaide Quartz, Jianghua Micro, and Hualing Co., which reached their daily limit up [1][2] - The automotive chip concept led the market with a 6.04% increase, while genetically modified stocks saw a decline of 5.96% [2] Group 2 - The SMIC concept sector attracted a net inflow of 1.53 billion yuan, with 45 stocks receiving net inflows, and six stocks exceeding 100 million yuan in net inflows [2] - SMIC itself saw a net inflow of 253 million yuan, leading the sector, followed by Weir Shares and Allwinner Technology with net inflows of 236 million yuan and 171 million yuan, respectively [2][3] - Jianghua Micro, Zhongke Feicai, and Chip Union Integration had the highest net inflow ratios at 19.74%, 17.84%, and 12.25% respectively [3] Group 3 - The trading volume and turnover rates for various stocks in the SMIC concept were highlighted, with Jianghua Micro showing a turnover rate of 10.72% and a significant net inflow [3][4] - Other notable stocks included Weir Shares with a turnover rate of 2.06% and a net inflow ratio of 7.39%, and Allwinner Technology with a turnover rate of 13.99% and a net inflow ratio of 4.85% [3][4] - The overall market sentiment in the semiconductor sector appears positive, with several stocks experiencing significant gains and attracting substantial capital inflows [1][2][3]

Group 1: Company Performance - In 2024, the company achieved a revenue of 2,351.89 million CNY, representing a year-on-year growth of 38.08% [3] - The net profit attributable to shareholders reached 270.98 million CNY, up 28.15% year-on-year [3] - The net profit excluding non-recurring items was 192.84 million CNY, showing a significant increase of 53.19% [3] - The net cash flow from operating activities improved from 528 million CNY to 627 million CNY [3] Group 2: Market Position and Product Development - The semiconductor materials business accounted for 82% of total revenue, although the overall gross margin decreased by 3.2% year-on-year [2] - The company’s ArF photoresist revenue surpassed 10 million CNY in 2024, with several products undergoing customer validation [2][4] - The company has three ArF photoresist products certified and sold, with multiple products currently in customer validation [4] Group 3: Research and Development - In 2024, R&D investment reached 213.05 million CNY, constituting 9.06% of total revenue [10] - The company focuses on advanced precursor materials, electronic specialty gases, and photoresists, with a strategy to enhance product innovation and market competitiveness [11] - The company plans to maintain high R&D investment to support technological advancements and product development [11] Group 4: Market Outlook and Industry Trends - The global semiconductor materials market is projected to reach 74 billion USD in 2024, with a year-on-year growth of 10.89% [9][10] - By 2027, the market size is expected to exceed 87 billion USD, indicating a stable growth pattern [10] - The electronic specialty gas market is anticipated to grow from 5 billion USD in 2022 to 6.02 billion USD by 2025, with a compound annual growth rate of 7.3% [14] Group 5: Customer Dependency and Strategic Plans - The top five customers account for 45% of revenue, with the largest customer contributing less than 10% [8] - The company is actively pursuing new customers and markets to mitigate risks associated with customer concentration [8] - The company aims to transition from a "chemical manufacturer" to a "comprehensive electronic materials service provider" through strategic innovation and resource integration [21]

Core Viewpoint - The company has shown significant growth in revenue and profit for the year 2024, indicating a strong performance in its core business areas [2][3]. Financial Performance - In 2024, the company achieved revenue of 2.352 billion yuan, a year-on-year increase of 38.08% - The net profit attributable to shareholders reached 271 million yuan, up 28.15% year-on-year - The net profit after deducting non-recurring items was 193 million yuan, reflecting a growth of 53.19% year-on-year - In Q4 2024, the company reported a single-quarter revenue of 588 million yuan, a year-on-year increase of 39.12% but a quarter-on-quarter decrease of 8.30% - The net profit for Q4 2024 was 5.37 million yuan, marking a return to profitability compared to the previous year, but a significant quarter-on-quarter decline of 93.82% [2]. Business Segment Performance - The precursor business (including MO source) generated revenue of 578 million yuan in 2024, a substantial year-on-year growth of 70.3%, with a corresponding gross margin increase of 8.7 percentage points to 48.6% - The precursor sales volume reached 383 tons, representing an 83.4% increase year-on-year - The specialty gas business achieved revenue of 1.506 billion yuan, a year-on-year increase of 22.3%, but the gross margin decreased by 6.2 percentage points to 39.9% - Specialty gas sales volume was 11,800 tons, up 25.1% year-on-year - The company recorded an asset impairment loss of 127 million yuan for the year, with Q4 2024 accounting for 103 million yuan of this loss, impacting the quarterly performance [3]. Strategic Development - The company has evolved from a single product (MO source) and single sector (LED) to a comprehensive electronic materials supplier with multiple products (precursors, specialty gases, photoresists) and industries (IC, LCD, LED, new energy) - In 2024, revenue from the IC sector exceeded 30% of total revenue, growing by 106% year-on-year - The company is accelerating the application of phosphine mixtures in the new energy sector and has gained a first-mover advantage in the domestic IC application of ARC products - The company is actively exploring high-end applications in compound semiconductors and optical coatings, alongside achieving over 10 million yuan in revenue from ArF photoresists in 2024 [4].

Group 1: Basic Chemicals - DuPont is under antitrust investigation in China, which may accelerate the domestic substitution process for ion exchange resins, particularly in the industrial water treatment sector [4] Group 2: Pharmaceuticals - The U.S. government announced a 34% tariff on all imports from the U.S. to China, which is expected to benefit domestic high-end medical device manufacturers as they continue to replace imports [5] Group 3: Automation Equipment - Bozhong Precision Engineering is a leader in 3C automation equipment, having delivered over 40 flexible modular production lines in 2023, and is expected to benefit from product innovation and increased automation rates in the consumer electronics sector [6] Group 4: Property Management - Poly Property reported a revenue of 16.34 billion yuan in 2024, an 8.5% increase year-on-year, with a net profit of 1.47 billion yuan, reflecting a 6.8% growth [7] Group 5: Electronic Materials - Nanda Optoelectronics achieved a revenue of 2.352 billion yuan in 2024, a 38.08% increase year-on-year, driven by significant growth in precursor sales [8] Group 6: Cement Industry - Huaxin Cement accelerated its international expansion, achieving revenue growth despite a downturn in the domestic cement industry, and plans to increase capital expenditure significantly in 2025 [9] Group 7: Network Solutions - StarNet Ruijie reported a revenue of 16.758 billion yuan in 2024, a 5.35% increase year-on-year, with a notable improvement in gross margin in Q4 [10]

Investment Rating - The report maintains an "Accumulate" rating for the company [6] Core Views - The company achieved a revenue of 2.352 billion yuan in 2024, representing a year-on-year growth of 38.08%, and a net profit attributable to shareholders of 271 million yuan, up 28.15% year-on-year [1][4] - The significant growth in precursor sales and an increase in gross margin were noted, although asset impairment affected the Q4 2024 performance [2][4] - The company is transitioning from a single product focus to a comprehensive electronic materials supplier, with over 30% of revenue coming from the IC sector, which grew by 106% year-on-year [3] Summary by Sections Financial Performance - In 2024, the precursor business generated 578 million yuan in revenue, a substantial increase of 70.3%, with a gross margin improvement of 8.7 percentage points to 48.6% [2] - The specialty gas business achieved revenue of 1.506 billion yuan, a 22.3% increase, but with a decline in gross margin by 6.2 percentage points to 39.9% [2] - The company recorded an asset impairment loss of 127 million yuan for the year, with 103 million yuan recognized in Q4 2024, impacting quarterly performance [2] Business Transformation - The company has diversified its product offerings from a single product (MO source) to multiple products (precursors, specialty gases, photoresists) across various industries (IC, LCD, LED, new energy) [3] - The company is actively expanding its applications in high-end fields such as compound semiconductors and optical coatings [3] Profit Forecast and Valuation - The profit forecasts for 2025-2027 have been adjusted downwards due to the increase in asset impairment losses and declining profitability in specialty gas products [4] - Expected net profits for 2025, 2026, and 2027 are projected at 349 million yuan, 438 million yuan, and 535 million yuan respectively [4][5]

2025 年第三次临时股东大会的 北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 法律意见书 北京国枫律师事务所 国枫律股字[2025]A0102 号 关于江苏南大光电材料股份有限公司 致：江苏南大光电材料股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见证 贵公司 2025 年第三次临时股东大会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人 民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》（以下简称"《股 东会规则》"）、《律师事务所从事证券法律业务管理办法》（以下简称"《证券法律业务管 理办法》"）、《律师事务所证券法律业务执业规则（试行）》（以下简称"《证券法律业务执 业规则》"）等相关法律、行政法规、规章、规范性文件及《江苏南大光电材料股份有限 公司章程》（以下简称"《公司章程》"）的规定，就本次会议的召集与召开程序、召集人 资格、出席会议人员资格、会议表决程序及表决结果等 ...

证券代码：300346 证券简称：南大光电 公告编号：2025-033 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。 江苏南大光电材料股份有限公司 2025年第三次临时股东大会决议公告 特别提示： 1、本次股东大会无否决议案的情况； 2、本次股东大会无涉及变更以往股东大会决议的情形； 3、本次股东大会采取现场投票和网络投票相结合的方式召开。 一、会议召开和出席情况 1、召集人：公司董事会； 2、表决方式：现场投票和网络投票相结合的方式； 3、会议召开时间： 现场会议时间：2025 年 4 月 7 日（星期一）14:30 网络投票时间：2025 年 4 月 7 日（星期一） （1）通过深圳证券交易所交易系统进行网络投票的具体时间为 2025 年 4 月 7 日 9:15-9:25、9:30-11:30、13:00-15:00； （2）通过深圳证券交易所互联网投票系统投票的具体时间为 2025 年 4 月 7 日上午 9:15 至下午 15:00 期间的任意时间。 （2）现场会议出席情况 出席本次股东大会现场会议的股东及股东授权委托代表共 7 人，代表股份 12 ...

截至2025年3月28日收盘，南大光电（300346）报收于36.45元，较上周的36.12元上涨0.91%。本周，南 大光电3月28日盘中最高价报37.84元。3月24日盘中最低价报35.11元。南大光电当前最新总市值215.3亿 元，在电子化学品板块市值排名2/33，在两市A股市值排名738/5140。 公司公告汇总 关于2024年度利润分配预案的公告：公司拟以现有总股本575964086股为基数，向全体股东每10股派发 现金股利1.00元（含税），合计派发现金股利57596408.60元（含税），以资本公积金向全体股东每10股 转增2股。本次利润分配预案需经股东大会审议通过后方可实施，存在不确定性，敬请投资者理性投 资，注意投资风险。 关于提请股东大会授权董事会制定2025年中期分红方案的公告：公司拟在确保持续稳健经营及长远发展 的前提下，通过增加分红频次方式进一步增强投资者获得感。授权内容为简化中期分红程序，提请股东 大会授权董事会在满足条件下制定并实施2025年度中期分红方案。该议案已提交2024年度股东大会审 议，相关审批程序已完成。2025年中期分红安排尚需股东大会审议，存在不确定性，涉及的未来 ...

平安证券股份有限公司陈潇榕,马书蕾近期对南大光电（300346）进行研究并发布了研究报告《前驱体产品销 量高增，IC业务收入增幅显著》，给予南大光电增持评级。 投资建议：氟类特气方面，公司乌兰察布大规模三氟化氮等核心含氟特气项目持续推进，特气业务规模将实 现进一步扩大；氢类特气方面，磷烷混气打入光伏市场，销售规模实现较快增长；半导体前驱体材料方面， 多款产品实现稳定量产，持续导入集成电路量产制程，业务增长后劲足，带动IC收入增势显著；光刻胶及配 套试剂方面，掌握全流程材料自主生产技术，部分产品已实现销售，多款产品处客户认证中，后续有望持续 实现业绩增量。行业层面，终端半导体和面板行业基本面渐转暖、销售规模增势向好，公司特气和前驱体业 务收入有望继续保持良好的增长态势。结合2024年实际数据表现，考虑到氟类特气供应充足，价格和毛利率 下降，下调2025-2026年盈利预测，并新增2027年盈利预测，预计2025-2027年公司归母净利润为3.62亿元(原 值4.17亿元)、4.43亿元(原值4.92亿元)、5.36亿元(新增)，对应2025年4月2日收盘价PE为59.3、48.4和40.1倍， 半导体行业处上行 ...