证券代码：300699 证券简称：光威复材 公告编号：2025-004 威海光威复合材料股份有限公司 第四届董事会第八次会议决议公告 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。 一、 董事会会议召开情况 威海光威复合材料股份有限公司（以下简称"公司"）于 2025 年 1 月 24 日上午以通讯表决的方式召开第四届董事会第八次会议。本次会议应参加表决 董事 7 人，实际参加表决董事 7 人，会议由董事长卢钊钧主持。本次会议的召 集、召开、表决程序符合《中华人民共和国公司法》等法律法规、规范性文件 和《公司章程》等的有关规定。 本次会议经与会董事审议并书面表决，形成如下决议： 1、 审议通过了《关于制定<舆情管理制度>的议案》。 具体内容详见 2025 年 1 月 26 日刊登在巨潮资讯网 （http://www.cninfo.com.cn）上的《舆情管理制度》。 表决情况：同意 7 票，反对 0 票，弃权 0 票。 三、 备查文件 1、威海光威复合材料股份有限公司第四届董事会第八次会议决议。 特此公告。 威海光威复合材料股份有限公司董事会 2025 年 1 ...

Financial Performance - Total operating revenue for 2024 was CNY 244,993.49 million, a decrease of 2.69% compared to the previous year[3] - Net profit attributable to shareholders was CNY 74,717.25 million, down 14.43% year-on-year; net profit after deducting non-recurring gains and losses was CNY 67,400.17 million, a decrease of 5.30%[5] - The weighted average return on net assets was 13.60%, a decline of 3.40 percentage points from the previous year[5] - Non-recurring gains and losses amounted to CNY 73 million, a decrease of 54.68% compared to CNY 161 million in the previous year[6] Assets and Equity - Total assets at the end of the reporting period reached CNY 807,349.22 million, an increase of 14.39% year-on-year[6] - Shareholders' equity attributable to the company was CNY 554,152.84 million, up 1.72% from the beginning of the period[6] Segment Performance - The precision machinery segment achieved sales revenue of CNY 889 million, a significant increase of 161.20% year-on-year[5] - The energy new materials segment reported sales revenue of CNY 537 million, reflecting a growth of 25.81% year-on-year[5] - The composite technology segment achieved sales revenue of CNY 107 million, growing by 15.60% year-on-year[5] Cash Flow - Cash flow from operating activities was CNY 83,835.83 million, an increase of 56.87% year-on-year, primarily due to increased cash received from sales[6]

北京植德律师事务所 北京植德律师事务所 关于威海光威复合材料股份有限公司 关于威海光威复合材料股份有限公司 签署重大合同的 签署重大合同的 法律意见书 法律意见书 植德（证）字[2024]047 号 植德（证）字[2024]047 号 二〇二四年十二月 北京市东城区东直门南大街 1 号来福士中心办公楼 12 层 邮编：100007 12th Floor, Raffles City Beijing Office Tower, No.1 Dongzhimen South Street, Dongcheng District, Beijing 100007 P.R.C 电话(Tel)：010-56500900 传真(Fax)：010-56500999 www.meritsandtree.com 致：威海光威复合材料股份有限公司 北京植德律师事务所（以下简称"本所"）接受威海光威复合材料股份有限 公司（以下简称"公司"）的委托，依据《中华人民共和国公司法》《中华人民 共和国民法典》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市 公司规范运作》等有关法律、行政法规、部门规章及其他规范性文件的有关规定， 就 ...

Investment Rating - Sell: Expected to underperform the market by more than 5% over the next 12 months [1] - Hold: Expected to perform within a range of -5% to +5% relative to the market over the next 12 months [11] - Buy: Expected to outperform the market by more than 15% over the next 12 months [23] - Overweight: Expected to outperform the market by 5%-15% over the next 12 months [23] Core Views - The company's subsidiary, Weihai Expansion, signed a significant daily operation contract with Customer A, totaling 3.664 billion yuan, which accounts for 145.51% of the company's audited revenue for the most recent fiscal year [4] - The contract involves multiple products and service periods, with execution dates spanning from July 1, 2024, to December 31, 2027 [4] - The contract is expected to significantly boost the company's revenue and profits, with the subsidiary's profitability contribution increasing [4] - The company's T300 demand is expected to continue, and the next-generation material T800 is positioned to support equipment upgrades, with potential growth in high-end composite applications in aviation, civil aircraft, rockets, missiles, and satellites [4] - The company's 2024-2026 earnings per share (EPS) are forecasted to be 1.01, 1.55, and 1.91 yuan, respectively, with a target price of 40.52 yuan based on a 28X P/E ratio for 2025 [4] Financial Performance - Revenue for 2022, 2023, 2024E, 2025E, and 2026E is projected to be 2.511 billion, 2.518 billion, 2.644 billion, 3.792 billion, and 4.733 billion yuan, respectively, with growth rates of -3.7%, 0.3%, 5.0%, 43.4%, and 24.8% [6] - EBITDA for the same periods is expected to be 1.120 billion, 1.171 billion, 1.155 billion, 1.672 billion, and 2.188 billion yuan [6] - Net profit attributable to the parent company is forecasted to be 934 million, 873 million, 842 million, 1.203 billion, and 1.566 billion yuan, with growth rates of 23.2%, -6.5%, -3.6%, 42.9%, and 30.2% [6] - EPS for 2022, 2023, 2024E, 2025E, and 2026E is projected to be 1.13, 1.05, 1.01, 1.45, and 1.88 yuan, respectively [6] - The company's P/E ratio for 2022, 2023, 2024E, 2025E, and 2026E is 64.14, 25.37, 33.35, 23.34, and 17.92, respectively [6] Valuation and Target Price - The company's reasonable value is estimated at 40.52 yuan per share, based on a 28X P/E ratio for 2025 [4] - The current price is 33.77 yuan, with a target price of 40.52 yuan, maintaining an "Overweight" rating [7] Industry and Market Performance - The company's performance is expected to benefit from the aerospace and satellite industries, with high-end composite applications driving growth [4] - The company's relative market performance shows a significant outperformance compared to the CSI 300 index, with a 52% increase over the observed period [9]

Contract Details - The company's wholly-owned subsidiary, Weihai Expansion, signed three contracts with Customer A in 2021, totaling approximately 2.098 billion yuan, accounting for 99.15% of the company's audited revenue for the most recent fiscal year [1] - The contracts were for ***-type carbon fiber and fabric, with a performance period from January 1, 2022, to June 30, 2024 [1] - Recently, Weihai Expansion signed a new procurement contract with Customer A for 3.664 billion yuan, a 75% increase compared to the previous large contract [5][7] - The new contract accounts for 145.51% of the company's audited revenue for the most recent fiscal year and includes five types of carbon fiber and carbon fiber fabric (A, B, C, D, E) [7] - The execution period for the new contract is from July 1, 2024, to December 31, 2027, and it will take effect upon being signed and stamped by legally authorized representatives of both parties [10] Financial Performance - The company's revenue changes in 2022 and 2023 were -3.69% and +0.26% respectively, while net profit changes were +23.2% and -6.54% respectively [3] - In the first three quarters of 2024, the company's revenue increased by 8.9% year-on-year, while net profit decreased by 1% [11] - Carbon fiber revenue in the first three quarters of 2024 was 1.147 billion yuan, a year-on-year increase of 3.76%, with third-quarter revenue reaching 465 million yuan, up 38% year-on-year and 27% quarter-on-quarter [11] Carbon Fiber Business Development - The company's high-end fiber varieties are gradually increasing, with stable growth expected in aerospace applications [2] - Potential recovery of aerospace-related projects could bring incremental revenue contributions from T700S/T800S grades, and high-strength, high-modulus fibers are expected to grow rapidly [2] - Carbon fiber applications in low-altitude economy, gas cylinders, and thermal fields are expected to supplement the company's performance [2] - The company's carbon fiber business in the aerospace sector is growing rapidly, with T700G grade fiber being a significant contributor to the third-quarter aerospace business growth [9] - The new contract may include T300, T700, and T800H grades, which are currently finalized aerospace products [8] Market and Industry Context - The average price of carbon fiber decreased from 211 yuan/kg in 2022 to 124 yuan/kg in 2023, according to Zhongfu Shenying's annual report data [6] - Despite the continuous decline in carbon fiber prices, the execution of the previous large contract helped maintain stable revenue and net profit for the company during the relevant years [6] - The company has disclosed progress in the application of its carbon fiber in domestic large aircraft, with T300 grade fiber being provided to Customer A for processing into prepreg [9]

证券代码：300699 证券简称：光威复材 公告编号：2024-069 威海光威复合材料股份有限公司 关于签订日常经营重大合同的公告 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。 特别提示： 1、合同的生效条件：本合同自双方合法授权代表签字并且加盖公章或合同 专用章后生效。 2、合同履行对公司本年度经营成果的影响：本次合同的顺利履行，预计对 公司本年度及未来年度的经营成果产生积极影响，具体影响以公司经审计确认 的收入为准。 一、合同签署概况 近日，威海光威复合材料股份有限公司（以下简称"公司"）全资子公司威 海拓展纤维有限公司（以下简称"威海拓展"）与客户 A 签订了《物资采购合 同》，合同总金额为 366,361.67 万元。本合同为公司日常经营合同，根据《深 圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》等相关规定，本次签订合同无需提交董事 会及股东大会审议批准。 | 分类 | 标的产品 | 金额 | 执行期间 | | --- | --- | --- | --- | | 合同组一 | A、B、C ...

证券代码：300699 证券简称：光威复材 公告编号：2024-068 威海光威复合材料股份有限公司 注册资本：捌亿叁仟壹佰叁拾伍万贰仟元整 类型：其他股份有限公司（上市） 成立日期：1992 年 02 月 05 日 法定代表人：卢钊钧 关于完成经营范围变更登记的公告 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。 威海光威复合材料股份有限公司（以下简称"公司"）于 2024 年 12 月 2 日 召开第四届董事会第七次会议、2024 年 12 月 20 日召开 2024 年第二次临时股东 大会，审议通过了《关于变更公司经营范围并修订<公司章程>的议案》。具体内 容详见 2024 年 12 月 3 日刊登在巨潮资讯网（http://www.cninfo.com.cn）上 的《关于变更经营范围并修订<公司章程>的公告》（2024-064）。 近日，公司完成了经营范围的变更登记手续，并取得威海市行政审批服务 局换发的《营业执照》。具体信息如下： 一、 变更后的工商登记信息 统一社会信用代码：91371000166734784G 名称：威海光威复合材料股份有限公司 ...

植德京(会)字[2024] 0166 号 二〇二四年十二月 北京市东城区东直门南大街 1 号来福士中心办公楼 12 层 邮编：100007 12th Floor, Raffles City Beijing Office Tower, No.1 Dongzhimen South Street, Dongcheng District, Beijing 100007 P.R.C 电话(Tel)：010-56500900 传真(Fax)：010-56500999 www.meritsandtree.com 北京植德律师事务所 关于威海光威复合材料股份有限公司 北京植德律师事务所 关于威海光威复合材料股份有限公司 2024 年第二次临时股东大会的 法律意见书 2024 年第二次临时股东大会的 法律意见书 植德京(会)字[2024] 0166 号 致：威海光威复合材料股份有限公司（贵公司） 北京植德律师事务所（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 2024 年第二次临时股东大会（以下简称"本次会议"）。 本所律师通过出席现场会议方式参加本次会议进行见证，并根据《中华人民 共和国公司法》（以下简称 ...

证券代码：300699 证券简称：光威复材 公告编号：2024-067 威海光威复合材料股份有限公司 2024 年第二次临时股东大会决议公告 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。 特别提示： 1、本次股东大会未出现否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、 会议召开方式：本次会议以现场投票与网络投票相结合的方式召开。 2、 现场会议召开时间：2024 年 12 月 20 日（星期五）下午 14：00 3、 网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为： 2024 年 12 月 20 日上午 9:15—9:25，9:30-11:30，下午 13:00—15:00；通过 互联网投票的时间为：2024 年 12 月 20 日上午 9:15 至 2024 年 12 月 20 日下午 15:00 期间的任意时间。 4、 现场会议召开地点：公司会议室 5、 会议召集人：公司董事会 6、 会议主持人：董事长卢钊钧 7、 股东出席情况 其中：通过现场投票的股东 2 人，代表股份 309,641 ...

二、 关联交易进展情况 经包头市九原区市场监督管理局核准，内蒙古光威已于近日完成股权转让 的工商变更登记手续，并取得新营业执照，主要登记信息如下： 1、 名称：内蒙古光威碳纤有限公司 证券代码：300699 证券简称：光威复材 公告编号：2024-066 威海光威复合材料股份有限公司 关于收购控股子公司少数股权暨关联交易的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、 关联交易概述 威海光威复合材料股份有限公司（以下简称"公司"）于 2024 年 12 月 2 日 召开第四届董事会第七次会议，审议通过了《关于收购控股子公司少数股权暨 关联交易的议案》，公司全资子公司威海拓展纤维有限公司（以下简称"威海拓 展"）拟使用自有资金以 21,164.40 万元的价格收购公司全资子公司威海光威能 源新材料有限公司持有的内蒙古光威碳纤有限公司（以下简称"内蒙古光威"） 60%股权，以 14,109.60 万元的价格收购公司控股股东威海光威集团有限责任公 司持有的内蒙古光威 40%股权。本次交易完成后，内蒙古光威将成为威海拓展 的全资子公司。具体内容详见 2 ...