| 证券代码：300644 | 证券简称：南京聚隆 | | --- | --- | | 债券代码：123209 | 债券简称：聚隆转债 | 南京聚隆科技股份有限公司 向不特定对象发行可转换公司债券 受托管理事务报告 （2024 年度） 债券受托管理人 重要声明 本报告依据《可转换公司债券管理办法》（以下简称"《《管理办法》"）《南京 聚隆科技股份有限公司（发行人）与长城证券股份有限公司（债券受托管理人） 关于南京聚隆科技股份有限公司 2023 年向不特定对象发行可转换公司债券之债 券受托管理协议》（以下简称"《《受托管理协议》"）《南京聚隆科技股份有限公司 向不特定对象发行可转换公司债券募集说明书》（以下简称"《《募集说明书》"） 《南京聚隆科技股份有限公司 2024 年年度报告》等相关公开信息披露文件、第 三方中介机构出具的专业意见等，由本期债券受托管理人长城证券股份有限公 司（以下简称"长城证券"）编制。长城证券对本报告中所包含的从上述文件中 引述内容和信息未进行独立验证，也不就该等引述内容和信息的真实性、准确 性和完整性做出任何保证或承担任何责任。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投 ...

Financial Performance - In 2024, the company achieved a revenue of CNY 2.387 billion, with a net profit attributable to shareholders of CNY 84.34 million, marking a compound annual growth rate (CAGR) of approximately 15.26% in revenue and 24.16% in net profit since its listing in 2018 [8][16]. - The first quarter of 2025 saw a revenue of CNY 595 million, a year-on-year increase of 32.48%, with a net profit of CNY 30.53 million, up 33.56% from the previous year [20]. Dividend and R&D Investment - The proposed dividend for 2024 is CNY 2.5 per 10 shares (before tax), pending approval at the annual shareholders' meeting [3]. - As of the end of 2024, the company had 18 ongoing research projects, with R&D personnel accounting for 20.65% of the workforce and R&D investment amounting to CNY 95.64 million, representing 4.01% of revenue [3]. Production and Market Expansion - The company's production base in Mexico commenced operations in the second half of 2024, focusing on North American markets and various industries, enhancing international competitiveness [3]. - The company has established a project team for materials used in humanoid robots, actively engaging with multiple entities to promote project implementation [12][20]. Sales Breakdown - In 2024, sales by application sectors included CNY 1.782 billion (74.64%) from the automotive sector, CNY 229 million (9.58%) from electronics, and CNY 157 million (6.57%) from environmental construction [16][17]. - The company’s foreign sales accounted for approximately 10.27% of total revenue, primarily from biobased recycled wood-plastic composites [18]. Future Growth and Market Trends - The modified plastics market in China is projected to exceed CNY 400 billion, driven by the rapid development of new energy vehicles and 5G/6G communications [13][14]. - The company plans to enhance profitability through product innovation, market expansion, and strategic collaborations, focusing on high-margin products [6][19]. Capital Management - As of April 30, 2025, the company had repurchased 1.263 million shares for approximately CNY 29.6 million [5]. - The company has no current plans for mergers or acquisitions but aims to enhance synergy through deep cooperation and capital operations [4].

Core Viewpoint - Nanjing Julong (300644) has demonstrated significant growth in revenue and profit for 2024 and Q1 2025, driven by innovation and strategic investments in various sectors, including aerospace and low-altitude economy [2][5]. Financial Performance - In 2024, the company achieved operating revenue of 2.387 billion yuan, a year-on-year increase of 30.53%, and a net profit attributable to shareholders of 84.34 million yuan, up 16.25% from the previous year [2]. - Excluding the impact of share-based payments, the net profit reached 99.88 million yuan, reflecting a growth of 44.85% [2]. - For Q1 2025, the company reported operating revenue of 595 million yuan, a 32.48% increase year-on-year, and a net profit of 30.53 million yuan, up 33.56% [2]. Sector Performance - In 2024, sales in the automotive and new energy vehicle sector grew by 31.24%, while the communication and electronic sectors saw a 36.17% increase [3]. - The aerospace and low-altitude economy sectors experienced a remarkable sales growth of 263.80%, particularly in carbon fiber composite components and assembly [3]. R&D Investment - The company invested 95.64 million yuan in R&D in 2024, marking a 33.30% increase year-on-year, with Q1 2025 maintaining a 38.64% growth in R&D expenses [3]. - Key R&D focuses include high-performance modified plastics, thermoplastic elastomers, carbon fiber composites, and advanced technologies such as humanoid robots and 6G communication [3]. Strategic Development - Nanjing Julong aims to become a leading international new materials company by focusing on high-end equipment components, new energy, lightweight materials, and aerospace applications [4]. - The company has established a subsidiary, Nanjing Julong Composite Materials Technology Co., Ltd., which has successfully delivered high-quality drone assemblies and achieved significant revenue growth in the low-altitude economy sector [5]. Humanoid Robotics Initiative - The company plans to establish a humanoid robotics division to focus on high-performance materials for robotics applications, addressing material demands that are critical for the industry's growth [6]. - A project team has been formed to develop polymer materials suitable for robotics, with ongoing collaborations with various entities [6].

一、回购公司股份的进展情况 截至 2025 年 4 月 30 日，公司通过股份回购专用证券账户以集中竞价交易 方式回购公司股份 1,263,000 股，占公司目前总股本的 1.15%，最高成交价为 25.79 元/股，最低成交价为 18.00 元/股，支付的总金额 29,579,027.23 元（含 交易费用）。本次回购符合公司回购股份方案及相关法律法规的要求。 | 证券代码：300644 | 证券简称：南京聚隆 | 公告编号：2025-054 | | --- | --- | --- | | 债券代码：123209 | 债券简称：聚隆转债 | | 南京聚隆科技股份有限公司 关于回购公司股份的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 南京聚隆科技股份有限公司（以下简称"公司"）于 2025 年 1 月 13 日召 开的第六届董事会第五次会议，审议通过了《关于以集中竞价交易方式回购公 司股份方案的议案》，同意公司使用资金总额不低于人民币 2,000 万元（含） 且不超过人民币 4,000 万元（含）的自有资金及股票回购专项贷款资金以集中 竞价交易方 ...

Core Viewpoint - The PEEK material concept stocks have shown remarkable gains despite the overall sluggishness of the A-share market, indicating a strong investor interest and potential growth in this sector [2][4]. Group 1: Stock Performance - Newhan New Materials (301076.SZ) rose by 20%, while Fuheng New Materials (832469.BJ) increased by over 15%, and Zhongxin Fluorine Materials (002915.SZ) gained 10% [2][3]. - Other notable performers include Huami New Materials (836247.BJ), Zhongyan Co., Ltd. (688716.SH), Water Co., Ltd. (002886.SZ), and Nanjing Julong (300644.SZ), all of which experienced significant increases [2]. Group 2: PEEK Material Overview - PEEK, or polyether ether ketone, is recognized for its high strength (eight times that of aluminum alloy) and low density (one-third of aluminum alloy), making it an excellent lightweight material [4]. - The demand for lightweight materials is increasing in emerging industries, particularly in electric vehicles and humanoid robots, which require reduced weight for improved energy efficiency and performance [4]. Group 3: Supply and Industry Development - Companies like Tianci Materials (002709.SZ) and Wanrun Co., Ltd. (002643.SZ) are advancing in the R&D and production of PEEK materials, with Tianci already in the pilot testing phase and receiving small batch orders [5]. - The domestic PEEK material industry is accelerating its industrialization process, with a decreasing reliance on imports, suggesting a shift towards local production capabilities [5]. - Analysts note that the combination of lightweight and high-strength characteristics of PEEK materials, along with cost reductions to 200,000 yuan/ton, indicates a favorable market environment for growth [5].

Financial Performance - In 2024, the company achieved a revenue of 2.387 billion CNY, a year-on-year increase of 23.87% [3] - The net profit attributable to shareholders was 84.34 million CNY, up 16.25% from the previous year [3] - In Q1 2025, revenue reached 0.305 billion CNY, a growth of 5.95% year-on-year [3] - The net profit for Q1 2025 was 30.53 million CNY, reflecting a 33.56% increase compared to the same period last year [3] Market Expansion - Sales in the automotive and new energy vehicle sector reached 1.782 billion CNY, growing by 31.24% [4] - The telecommunications and electronics sector saw a revenue increase of 36.17%, totaling 0.229 billion CNY [4] - The environmental building engineering sector grew by 30.45%, achieving 0.157 billion CNY in sales [4] - The aerospace and low-altitude economy sector experienced a remarkable growth of 263.80%, reaching 0.030 billion CNY [4] Research and Development - R&D investment in 2024 amounted to 95.64 million CNY, a 33.30% increase year-on-year [5] - The company holds 149 authorized patents, including 76 invention patents, enhancing its technological advantage [7] - Focus areas for R&D include high-performance modified plastics, thermoplastic elastomers, and carbon fiber composite materials [5] Strategic Direction - The company aims to become a leading enterprise in modified materials and a key player in the low-altitude economy and plastic wood sectors within the next three to five years [14] - The "4+2" strategic layout focuses on four core business segments and two key directions in precision processing and special material synthesis [14] - The mission is to provide personalized basic materials and comprehensive technical services for national key projects and pillar industries [14]

Core Insights - Nanjing Julong (300644) reported a total revenue of 595 million yuan for Q1 2025, representing a year-on-year increase of 32.48% [1] - The net profit attributable to shareholders reached 30.53 million yuan, up 33.56% year-on-year [1] Financial Performance - Total revenue for Q1 2025 was 595 million yuan, compared to 449 million yuan in Q1 2024, marking a 32.48% increase [1] - Net profit attributable to shareholders was 30.53 million yuan, up from 22.86 million yuan in the same quarter last year, reflecting a 33.56% growth [1] - Gross margin improved to 16.09%, an increase of 13.03% year-on-year, while net margin slightly increased to 5.18% [1] - Total expenses (selling, administrative, and financial) amounted to 44.11 million yuan, accounting for 7.42% of revenue, down 3.87% year-on-year [1] Balance Sheet Highlights - Cash and cash equivalents rose to 136 million yuan, a 48.46% increase from 91.48 million yuan [1] - Accounts receivable increased to 711 million yuan, with a year-on-year growth of 31.71% [1] - Interest-bearing liabilities were reported at 554 million yuan, a 6.64% increase from the previous year [1] Earnings Metrics - Earnings per share (EPS) increased to 0.30 yuan, up 40.73% from 0.21 yuan [1] - Operating cash flow per share was reported at -0.58 yuan, a significant decrease of 281.42% year-on-year [1] - Book value per share rose to 8.46 yuan, reflecting a 2.96% increase [1] Business Evaluation - The company's return on invested capital (ROIC) was 8.05%, indicating average capital returns [4] - The net profit margin for the previous year was 3.65%, suggesting low added value for products or services [4] - The company has raised a total of 288 million yuan since its IPO, with cumulative dividends amounting to 126 million yuan, resulting in a dividend-to-financing ratio of 0.44 [4] Cash Flow and Debt Analysis - Cash flow metrics indicate that cash and cash equivalents represent only 7.61% of total assets and 21.52% of current liabilities [4] - The interest-bearing debt ratio stands at 23.29%, with interest-bearing liabilities amounting to 11.26 times the average operating cash flow over the past three years [4] - Financial expenses accounted for 60.74% of the average operating cash flow over the past three years [4] - Accounts receivable represent 843.58% of profit, indicating potential liquidity concerns [4]

【DT新材料】 获 悉 ，4月28日， 南京聚隆 发布公告，2025年第一季度，公司实现营业收入为5.95亿元，同比上升32.48%；归母净利润为3052.77万元，同比上升 33.56%；扣非归母净利润为2897.81万元，同比上升26.35%。 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | | | | (%) | | 营业收入(元) | 594, 654, 632. 66 | 448, 876, 171. 94 | 32. 48% | | 归属于上市公司股东的净利 | 30.527.733.41 | 22, 857, 761. 18 | 33.56% | | 润(元) | | | | | 归属于上市公司股东的扣除 | | | | | 非经常性损益的净利润 | 28. 978. 050. 57 | 22, 934, 613. 78 | 26. 35% | | (元) | | | | | 经营活动产生的现金流量净 | -64.164.679.43 | 34.677.076.93 | -285.03% | | 额(元) | | | | 前 ...

| 证券代码：300644 | 证券简称：南京聚隆 | 公告编号：2025-053 | | --- | --- | --- | | 债券代码：123209 | 债券简称：聚隆转债 | | 南京聚隆科技股份有限公司 关于 2024 年限制性股票激励计划 首次授予部分第一个归属期归属结果的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： 3、本次限制性股票归属人数：81 人 4、本激励计划的限制性股票归属后不设置禁售期 南京聚隆科技股份有限公司（以下简称"公司"）于 2025 年 4 月 16 日召开 第六届董事会第十次会议和第六届监事会第七次会议，审议通过了《关于 2024 年限制性股票激励计划首次授予部分第一个归属期符合归属条件的议案》等议案。 近日，公司为符合条件的 81 名激励对象办理了 138.52 万股第二类限制性股票归 属相关事宜。现将有关事项说明如下： 一、股权激励计划实施情况概要 （一）激励工具：第二类限制性股票 （二）标的股票来源 公司 2024 年限制性股票激励计划（以下简称"本激励计划"）涉及的标的股 票来源为公司从二级 ...

| 证券代码：300644 | 证券简称：南京聚隆 | 公告编号：2025-050 | | --- | --- | --- | | 债券代码：123209 | 债券简称：聚隆转债 | | 南京聚隆科技股份有限公司 关于提请股东大会授权董事会以简易程序向特定对象发行 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、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 南京聚隆科技股份有限公司 以下简称 公司"）于 2025 年 4 月 24 日召开 第六届董事会第十一次会议，审议通过 关于提请股东大会授权董事会以简易程 序向特定对象发行股票的议案》，董事会提请股东大会授权董事会以简易程序向 特定对象发行股票，募集资金总额不超过人民币 3 亿元且不超过最近一年末净资 产 20%，授权有效期自公司 2024 年年度股东大会通过之日起至 2025 年年股东大 会召开之日止。该议案尚需提交公司 2024 年年度股东大会审议。现将具体情况 公告如下： 一、本次授权的具体内容 1、确认公司是否符合以简易程序向特定对象发行股票的条件 授权董事会根据 中华人民共和国公司法》 中华人民共和国证券法》 上 市公司证券发行注 ...