Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook based on its strong product barriers and growth potential [1][3]. Core Views - The company reported a revenue of 1.314 billion yuan for the first three quarters of 2024, a year-over-year decrease of 12.1%, and a net profit attributable to shareholders of 235 million yuan, down 42.8% year-over-year. The performance is largely in line with market expectations, impacted by a temporary decline in sales orders due to reduced demand in the aerospace sector [1][3]. - The company is a leader in the high-end quartz glass sector in China, serving industries such as aerospace, semiconductors, optics, photovoltaics, and optical communications. The report suggests that demand is expected to recover from its current low point [1][3]. Financial Performance Summary - For Q3 2024, the company achieved a revenue of 399 million yuan, a year-over-year decline of 15.5%, and a net profit of 62 million yuan, down 49.5% year-over-year. The gross margin decreased by 8.2 percentage points to 42.4%, and the net margin fell by 10.7 percentage points to 18.5% due to reduced high-value product deliveries and increased operating expenses [1][3]. - The company increased its R&D expenses by 28.6% to 197 million yuan, with the R&D expense ratio rising to 15.0%. This reflects a commitment to innovation and development, with a CAGR of 44.82% in R&D spending from 2020 to 2023 [1][3]. - Operating cash flow for the first three quarters was 137 million yuan, down from 295 million yuan in the same period last year. The company also saw an increase in contract liabilities by 42.6% due to higher advance payments [1][3]. Financial Forecast - The company is projected to achieve net profits of 340 million yuan, 645 million yuan, and 952 million yuan for the years 2024, 2025, and 2026, respectively. The current stock price corresponds to PE ratios of 70x, 37x, and 25x for the same years [2][4].

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook based on its strong product barriers and growth potential [1][3]. Core Views - The company reported a revenue of 1.314 billion yuan for the first three quarters of 2024, a year-over-year decline of 12.1%, and a net profit attributable to shareholders of 235 million yuan, down 42.8% year-over-year. The performance is largely in line with market expectations [1]. - The decline in demand from the aerospace sector has led to a temporary decrease in sales orders, impacting the company's financial performance [1]. - The company has increased its R&D investment significantly, with R&D expenses rising by 28.6% to 197 million yuan, reflecting a commitment to innovation and development [1]. Financial Performance Summary - For Q3 2024, the company achieved a revenue of 399 million yuan, down 15.5% year-over-year, and a net profit of 62 million yuan, down 49.5% year-over-year [1]. - The gross margin for the first three quarters of 2024 decreased by 8.2 percentage points to 42.4%, while the net margin fell by 10.7 percentage points to 18.5% due to reduced high-value product deliveries and increased operating expenses [1]. - The operating cash flow for the first three quarters was 137 million yuan, down from 295 million yuan in the same period last year [1]. Financial Forecasts - The company is projected to achieve net profits of 340 million yuan, 645 million yuan, and 952 million yuan for the years 2024, 2025, and 2026, respectively [2][4]. - The current stock price corresponds to a price-to-earnings (PE) ratio of 70x for 2024, 37x for 2025, and 25x for 2026, indicating a potential for growth as demand recovers [1][2]. R&D and Innovation - The company has formed a technical R&D team of 667 people, accounting for 24% of its total workforce, to tackle product technology challenges and achieve breakthroughs in quartz glass new materials [1]. - R&D expenses as a percentage of revenue increased to 15.0%, reflecting the company's strategy to enhance its technological capabilities [1].

证券代码：300395 证券简称：菲利华 公告编号：2024-59 湖北菲利华石英玻璃股份有限公司 第六届监事会第十三次会议决议公告 表决结果：3票赞成（占有效表决票数的100%）、0票反对、0票弃权。 三、报备文件 （一）第六届监事会第十三次会议决议。 特此公告。 本公司及监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。 一、监事会会议召开情况 2024年10月21日，湖北菲利华石英玻璃股份有限公司（以下简称"公司"）第六届 监事会第十三次会议在公司会议室举行。会议通知于 2024 年10 月16 日以通讯和邮件的 方式发出。本次会议由第六届监事会主席李再荣女士主持。出席监事3名，占公司监事总 数的 100%，符合《湖北菲利华石英玻璃股份有限公司章程》规定的法定人数，本次监事 会会议决议合法有效。 二、监事会会议审议情况 （一）《关于湖北菲利华石英玻璃股份有限公司2024年第三季度报告的议案》 经认真审核，监事会认为：董事会编制和审核公司 2024 年第三季度报告的程序符合 法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了公司的实际情 况，不存在任何 ...

Financial Performance - Revenue for the third quarter was RMB 398.65 million, a decrease of 15.52% year-over-year[2] - Net profit attributable to shareholders was RMB 62.40 million, down 49.50% year-over-year[2] - Total operating revenue for the current period is 1,313,558,989.73 RMB, a decrease from the previous period's 1,494,618,717.02 RMB[18] - Net profit for the current period is 243,594,788.37 RMB, down from 437,418,913.16 RMB in the previous period[19] - Basic earnings per share (EPS) for the current period is 0.4519, compared to 0.7977 in the previous period[19] Cash Flow - Operating cash flow decreased by 53.58% to RMB 136.85 million year-over-year[2] - Cash flow from operating activities is 136,851,877.37 RMB, a decrease from 294,795,389.11 RMB in the previous period[20] - Cash received from sales of goods and services is 1,068,499,156.88 RMB, slightly up from 1,063,157,570.53 RMB in the previous period[20] - Cash paid for employee compensation and benefits is 277,162,363.38 RMB, up from 234,961,354.82 RMB in the previous period[20] - Cash flow from investing activities is -276,838,870.03 RMB, an improvement from -938,598,001.92 RMB in the previous period[20] - Cash received from investment returns is 664,352,716.35 RMB, up from 407,145,400.69 RMB in the previous period[20] - Cash inflows from financing activities totaled 393.72 million yuan, a decrease from 525.78 million yuan in the previous period[21] - Cash outflows from financing activities amounted to 239.81 million yuan, compared to 114.70 million yuan in the prior period[21] - Net cash flow from financing activities was 153.92 million yuan, down from 411.08 million yuan in the previous period[21] - The company's cash and cash equivalents increased by 15.76 million yuan, compared to a decrease of 228.18 million yuan in the prior period[21] - The ending balance of cash and cash equivalents was 478.02 million yuan, down from 555.06 million yuan in the previous period[21] Assets and Liabilities - Total assets increased by 2.94% to RMB 6.09 billion compared to the end of the previous year[2] - The company's total assets increased to RMB 6,088,664,538.57, up from RMB 5,915,013,040.01 at the beginning of the period[16] - The company's total liabilities increased to RMB 1,437,355,895.17, up from RMB 1,413,761,795.25 at the beginning of the period[16] - The company's total equity increased to RMB 4,651,308,643.40, up from RMB 4,501,251,244.76 at the beginning of the period[17] - The company's cash and cash equivalents decreased to RMB 563,442,706.24, down from RMB 586,414,712.12 at the beginning of the period[15] - The company's accounts receivable increased to RMB 560,101,714.87, up from RMB 482,483,063.57 at the beginning of the period[15] - The company's inventory increased to RMB 732,544,438.55, up from RMB 665,834,567.23 at the beginning of the period[15] - The company's long-term investments decreased to RMB 5,744,524.40, down from RMB 6,158,406.32 at the beginning of the period[15] - The company's fixed assets increased to RMB 1,778,703,772.98, up from RMB 1,765,071,740.34 at the beginning of the period[15] Government Subsidies and Investment Income - Government subsidies increased by 77.85% to RMB 48.14 million year-over-year[7] - Investment income surged by 389.38% to RMB 7.66 million due to increased returns from matured financial products[7] Asset Impairment and R&D Expenses - Asset impairment losses increased by 4756.97% to RMB -3.38 million due to higher inventory write-downs[7] - Research and development expenses increased, contributing to a 53.78% decrease in income tax expenses[7] - R&D expenses increased to 197,249,976.95 RMB from 153,403,935.25 RMB in the previous period[18] Loans and Contract Liabilities - Long-term loans increased by 59.76% to RMB 181.36 million compared to the beginning of the year[5] - Contract liabilities increased by 110.70% to RMB 35.87 million due to higher advance payments from customers[5] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 15,015[10] - The top shareholder, Deng Jiagui, holds 7.57% of the shares, totaling 39,331,174 shares[10] - Wu Xuemin holds 6.40% of the shares, totaling 33,270,589 shares[10] - Beijing Huibao Jinyuan Investment Management Center holds 5.97% of the shares, totaling 31,050,000 shares[10] - GF Fund Management Co., Ltd. - Social Security Fund 420 Portfolio holds 2.63% of the shares, totaling 13,681,632 shares[10] - Industrial and Commercial Bank of China - E Fund ChiNext ETF holds 2.26% of the shares, totaling 11,762,278 shares[10] - National Social Security Fund 113 Portfolio holds 1.97% of the shares, totaling 10,222,653 shares[10] - Agricultural Bank of China - CSI 500 ETF holds 1.82% of the shares, totaling 9,480,780 shares[10] - Agricultural Bank of China - Southern Military Reform Flexible Allocation Mixed Securities Investment Fund holds 1.74% of the shares, totaling 9,066,238 shares[10] - Basic Pension Insurance Fund 802 Portfolio holds 1.67% of the shares, totaling 8,687,912 shares[10] Share Repurchase and Purchase - The company's actual controllers, directors, and senior management completed a share purchase plan, acquiring shares worth at least RMB 30 million[15] - The company repurchased 1,688,050 shares, accounting for 0.32% of the total shares, with a total repurchase amount of RMB 50,088,683.50[15] Operating Costs - Operating costs for the current period are 757,105,937.64 RMB, compared to 739,174,283.04 RMB in the previous period[18]

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。 证券代码：300395 证券简称：菲利华 公告编号：2024-58 湖北菲利华石英玻璃股份有限公司 第六届董事会第十三次会议决议公告 本议案具体内容详见公司同日在中国证监会指定的创业板信息披露网站巨潮资讯网 （www.cninfo.com.cn）刊登的《2024年第三季度报告》（公告编号：2024-60 ）。 表决结果：9票赞成（占有效表决票数的100%）、0票反对、0票弃权。 三、报备文件 （一）第六届董事会第十三次会议决议； （二）第六届董事会审计委员会第八次会议决议。 一、董事会会议召开情况 湖北菲利华石英玻璃股份有限公司（以下简称"菲利华"或"公司"）于2024 年10 月 21 日在公司会议室以现场与通讯相结合的方式召开第六届董事会第十三次会议，会议 通知于2024 年 10 月 16 日以通讯和邮件的方式发出。会议由董事长商春利先生主持，本 次董事会应出席的人数9 人，实际出席会议的董事9 人，占公司董事总数的100%。会议 的召集和召开符合《中华人民共和国公司法》等法律法规和《湖北菲利华石英玻璃股份 ...

证券代码：300395 证券简称：菲利华 公告编号：2024-57 湖北菲利华石英玻璃股份有限公司 关于回购公司股份方案实施完毕暨股份变动的公告 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。 湖北菲利华石英玻璃股份有限公司（以下简称"公司"）于2024 年2月19日召开了 第六届董事会第七次会议和第六届监事会第七次会议审议通过《关于回购公司股份方案的 议案》，同意公司使用自有资金以集中竞价交易方式回购公司部分人民币普通股 A 股股 份，回购的股份将用于实施员工持股计划或股权激励。本次回购金额不低于人民币 5,000 万元（含本数）且不超过人民币 10,000 万元（含本数），回购股份价格不超过人民币 44 元/股，具体回购股份的数量以回购结束时实际回购的股份数量为准。具体内容详见公司于 2024年2月19日在巨潮资讯网（www.cninfo.com.cn）披露的《关于回购公司股份方案的 公告》（公告编号：2024-05）。 因公司实施 2023 年年度权益分派，本次回购股份价格上限由不超过人民币 44.00 元/ 股（含）调整至不超过43.79 元/股（含） ...

长江证券承销保荐有限公司 关于湖北菲利华石英玻璃股份有限公司 2024 年半年度持续督导跟踪报告 1 | 17,224.88 | 万元，同 | 需求下降，价格 | | --- | --- | --- | | 比下降 | 39.94%。 | 竞争加剧；航空 | | | | 航天领域需求回 | | | | 落导致公司销售 | | | | 订单阶段性下降 | | | | 所致。公司在 | | | | 年上半年业 2024 | | | | 绩受行业变动影 | | | | 响有所下降，系 | | | | 短期因素所致， | | | | 公司自身营运能 | | | | 力及盈利能力未 | | | | 发生重大变化。 | | | | 与同行业可比公 | | | | 司比较，公司财 | | | | 务指标合理，不 | | | | 存在明显异常。 | 三、公司及股东承诺事项履行情况 | 公司及股东承诺事项 | 是否 | 未履行承诺的原因及解决措施 | | --- | --- | --- | | | 履行承诺 | | | 1、首次公开发行时控股股东的股份限 | 是 | 不适用 | | 售承诺 | | | | 2、首次公开发行时实 ...

证券代码：300395 证券简称：菲利华 公告编号：2024-55 湖北菲利华石英玻璃股份有限公司 第六届董事会第十二次会议决议公告 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。 （二）《关于作废部分已授予尚未归属的限制性股票的议案》 根据《上市公司股权激励管理办法》《深圳证券交易所创业板股票上市规则》、 公司《2021 年限制性股票激励计划（草案）》等有关规定，以及公司 2021 年第 二次临时股东大会的授权，公司 2021 年限制性股票激励计划的激励对象中首次 授予第二类限制性股票的 14 名激励对象因个人原因离职，不再具备激励对象资 格，其已获授但尚未归属的第二类限制性股票 5.10 万股予以作废；预留授予人 员中 15 名激励对象因离职（7 人）及个人考核（8 人）等原因不符合激励及归属 条件，其已获授但尚未归属的 4.86 万股第二类限制性股票不得归属并由公司作 废。 一、董事会会议召开情况 湖北菲利华石英玻璃股份有限公司（以下简称 "公司"）于2024年9月9日在公司 会议室以现场与通讯相结合的方式召开第六届董事会第十二次会议，会议通知于2024 ...

证券代码：300395 证券简称：菲利华 公告编号：2024-56 湖北菲利华石英玻璃股份有限公司 第六届监事会第十二次会议决议公告 2024年9月9日，湖北菲利华石英玻璃股份有限公司（以下简称"公司"）第六届监 事会第十二次会议在公司会议室举行。会议通知于 2024 年9 月4 日以通讯和邮件的方式 发出。本次会议由第六届监事会主席李再荣女士主持。出席监事3名，占公司监事总数的 100%，符合《湖北菲利华石英玻璃股份有限公司章程》规定的法定人数，本次监事会会 议决议合法有效。 二、监事会会议审议情况 （一）《关于 2021 年限制性股票激励计划首次授予部分第三个归属期及预 留授予部分第二个归属期归属条件成就的议案》 经审核，监事会认为： 1、公司不存在《上市公司股权激励管理办法》（以下简称"《管理办法》"） 第七条规定的不得实施股权激励的情形，公司具备实施股权激励计划的主体资格， 未发生《管理办法》及本次激励计划规定的不得归属的情形； 2、本次拟归属的 456 名激励对象（其中首次授予激励对象 355 人、预留授 予激励对象 101 人）个人绩效考核均符合公司《2021 年限制性股票激励计划（草 案）》（以 ...

证券代码：300395 证券简称：菲利华 公告编号：2024-53 湖北菲利华石英玻璃股份有限公司 关于作废部分已授予尚未归属的限制性股票的公告 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。 湖北菲利华石英玻璃股份有限公司（以下简称"公司"）于2024年9月9日召开第 六届董事会第十二次会议、第六届监事会第十二次会议，审议通过了《关于作废部分已授 予尚未归属的限制性股票的议案》。现将具体内容公告如下： 一、2021年限制性股票激励计划已履行的相关审批程序 1、2021 年8 月5 日，公司召开了第五届董事会第十一次会议、第五届监事会第十一 次会议，相应审议通过了《关于<湖北菲利华石英玻璃股份有限公司2021年限制性股票激 励计划（草案）>及其摘要的议案》《关于制订<湖北菲利华石英玻璃股份有限公司 2021 年限制性股票激励计划实施考核管理办法>的议案》《关于提请股东大会授权董事会办理 2021 年限制性股票激励计划相关事宜的议案》《关于<湖北菲利华石英玻璃股份有限公司 2021 年限制性股票激励计划首次授予激励对象名单>的议案》等议案。公司独立董事就本 次激 ...