Core Viewpoint - Meilian New Materials is a leading manufacturer in the plastic masterbatch industry in China and the largest white masterbatch manufacturer in Asia, with a unique advantage as the sole supplier of EX electronic materials in the country [1] Group 1: Business Performance - In Q3 2025, Meilian New Materials reported revenue of 1.247 billion yuan, ranking 12th in the industry, significantly lower than the top competitor, Kingfa Technology, which had revenue of 49.616 billion yuan [2] - The company's net profit for the same period was -61.39 million yuan, placing it at the bottom of the industry rankings, while the industry average net profit was 119 million yuan [2] - The main business composition included color masterbatch at 334 million yuan (38.70%) and trichloroisocyanuric acid at 287 million yuan (33.23%) [2] Group 2: Financial Ratios - As of Q3 2025, Meilian New Materials had a debt-to-asset ratio of 39.14%, which is lower than the industry average of 45.98%, indicating relatively low debt pressure [3] - The gross profit margin for the same period was 6.02%, a significant decrease from 13.90% in the previous year and below the industry average of 14.74%, suggesting a need for improvement in profitability [3] Group 3: Management and Shareholder Information - The chairman, Huang Weishan, received a salary of 447,000 yuan in 2024, an increase of 48,500 yuan from 2023 [4] - As of September 30, 2025, the number of A-share shareholders decreased by 3.11% to 24,300, while the average number of circulating A-shares held per account increased by 3.21% to 22,000 [5] Group 4: Future Outlook - Despite short-term pressure from declining chemical material prices, the company has multiple business advantages that may create new growth opportunities [5] - Key business highlights include expected volume and price increases in trichloroisocyanuric acid consumption post-September, the potential for expanding downstream customers for EX electronic materials, and ongoing projects in the renewable energy and polymer materials sectors [5] - Forecasted revenues for 2025, 2026, and 2027 are 2.119 billion yuan, 3.436 billion yuan, and 5.166 billion yuan, respectively, with corresponding EPS of 0.11, 0.24, and 0.61 yuan [5]

Market Overview - The plastic sector increased by 0.56% on October 29, with Dongcai Technology leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Top Gainers in Plastic Sector - Dongcai Technology (601208) closed at 21.48, up 5.92% with a trading volume of 1.18 million shares and a transaction value of 253.7 million yuan [1] - Hechang Polymer (920089) closed at 19.57, up 4.32% with a trading volume of 55,100 shares and a transaction value of 106 million yuan [1] - Meilian New Materials (300586) closed at 11.30, up 3.86% with a trading volume of 471,100 shares and a transaction value of 54 million yuan [1] Top Losers in Plastic Sector - Qide New Materials (300995) closed at 44.02, down 6.08% with a trading volume of 36,900 shares and a transaction value of 163 million yuan [2] - Yongli Co. (300230) closed at 5.15, down 3.20% with a trading volume of 385,100 shares and a transaction value of 198 million yuan [2] - Weisaibo (688718) closed at 14.37, down 2.84% with a trading volume of 27,600 shares and a transaction value of 39.99 million yuan [2] Capital Flow Analysis - The plastic sector experienced a net outflow of 311 million yuan from institutional investors, while retail investors saw a net inflow of 126 million yuan [2] - The top stocks with significant net inflows from retail investors include Yongli Co. with 24.64 million yuan and Hechang Polymer with 490,210 yuan [3] - Major stocks with net outflows from institutional investors include Stik (300806) with 71.76 million yuan and Wankai New Materials (301216) with 50.07 million yuan [3]

Core Viewpoint - The company is currently developing a new specialty resin and fine chemical surfactant project through its subsidiary, Huihong Technology, located in Anshan, Liaoning Province, with an expected completion and production start date in 2026 [1] Company Summary - The project is in the construction phase and is part of the company's strategic expansion in the specialty chemicals sector [1]

Core Viewpoint - The company reported that its total operating revenue for the first three quarters remained largely unchanged compared to the same period last year, with significant losses in the third quarter attributed to intense market competition leading to a substantial decline in sales prices of melamine products [1] Group 1 - The company's total operating revenue for the first three quarters is approximately flat year-on-year [1] - The primary reason for the losses in the third quarter is the fierce competition in the melamine product market, resulting in a significant year-on-year price drop [1] - As the peak sales season approaches in the fourth quarter, the prices of melamine have started to gradually recover [1]

Core Viewpoint - The company is experiencing an increase in its foreign customer base for EX electronic materials and is working to accelerate engineering testing processes with domestic clients to achieve early bulk procurement [1] Group 1 - The production and sales of EX electronic materials are currently ramping up [1] - The company is collaborating with domestic downstream clients to expedite the engineering testing process [1] - The goal is to enable domestic clients to start bulk purchasing and usage of the materials as soon as possible [1]

Core Viewpoint - The company is focused on enhancing its core competitiveness and is actively developing its industrial layout in new materials, new energy, and semiconductor materials, aiming to reward investors with excellent performance and requesting patience for its growth and development [1] Company Developments - The company's new energy and polymer materials industrialization project in Xuanhan County, Dazhou, Sichuan, is currently under construction [1] - The project plans to establish an annual production capacity of 300,000 tons of white masterbatch, benefiting from the local abundant and cost-effective resources such as natural gas and sulfur, which will facilitate integrated production from raw materials to finished products [1] - The project is expected to be completed and put into operation by 2026, with the company aiming to rapidly enhance the scale efficiency and global market share of color masterbatch through this initiative [1] - The company is committed to maximizing the profit contribution from this project [1]

Core Viewpoint - The company reported a loss in the third quarter despite rising prices in chemical products, primarily due to intense market competition leading to a significant decline in sales prices of melamine cyanurate [1] Group 1: Company Performance - The main reason for the loss in the third quarter was the substantial year-on-year decrease in sales prices of melamine cyanurate due to fierce market competition [1] - The company indicated that with the arrival of the fourth quarter sales peak season, the prices of melamine cyanurate have started to gradually recover [1]

Core Viewpoint - The solid-state battery sector has experienced a short-term surge, with several companies seeing significant stock price increases [2] Group 1: Company Performance - Fangda Carbon, Tianji Shares, and Duofluo have all hit the daily limit up, indicating strong investor interest and confidence in these companies [2] - Jinyinhai has seen its stock price rise by over 10%, reflecting positive market sentiment towards its performance in the solid-state battery space [2] - Huazheng New Materials, Meilian New Materials, and Wanrun New Energy have also experienced stock price increases, suggesting a broader rally in the sector [2]

Core Viewpoint - Meilian New Materials (300586.SZ) reported a decline in revenue and a net loss for the first three quarters of 2025, indicating potential challenges in financial performance [1] Financial Performance - The company's revenue for the first three quarters was 1.247 billion yuan, a year-on-year decrease of 1.69% [1] - The net loss attributable to shareholders of the listed company was 37.2037 million yuan [1] - The net loss attributable to shareholders after deducting non-recurring gains and losses was 27.394 million yuan [1] - The basic loss per share was 0.0523 yuan [1]

特此公告。 广东美联新材料股份有限公司 关于 2025 年第三季度报告披露的提示性公告 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。 2025 年 10 月 24 日，广东美联新材料股份有限公司（以下简称"公司"） 召开第五届董事会第八次会议，审议通过了《关于 2025 年第三季度报告的议 案》。公司 2025 年第三季度报告全文已于 2025 年 10 月 25 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）披露，敬请投 资者注意查阅。 证券代码：300586 证券简称：美联新材 公告编号：2025-071 广东美联新材料股份有限公司 董事会 2025 年 10 月 25 日 1 / 1 ...