Investment Rating - The investment rating for the company is "Buy" and is maintained [10]. Core Views - The company reported a significant revenue increase of 36.7% year-on-year, reaching 2.69 billion yuan in 2024, although net profit decreased by 2.1% to 55 million yuan [2][7]. - In Q1 2025, the company achieved a revenue of 670 million yuan, reflecting a slight year-on-year increase of 1.1% but a quarter-on-quarter decrease of 1.9% [2][7]. - The company is in a phase of ramping up new production capacities, which is expected to enhance sales volume in the future [13]. Summary by Sections Financial Performance - In 2024, the company achieved a total revenue of 2.69 billion yuan, with a net profit of 55 million yuan and a non-recurring net profit of 21 million yuan, marking a year-on-year decrease of 46.4% [2][7]. - For Q1 2025, the company reported a net profit of 10 million yuan, which is a 48.3% decrease year-on-year but a significant increase of 767.5% quarter-on-quarter [2][7]. Business Development - The company is a leader in functional coating composite materials, expanding its product lines into areas such as functional films, electronic-grade adhesives, and thermal management composites [13]. - The company is focusing on new product categories, particularly in OCA adhesives and upstream PET base films, to enhance its core competitiveness [13]. Future Outlook - The company has ongoing projects that are expected to contribute to future growth, with a projected net profit of 120 million yuan, 210 million yuan, and 300 million yuan for 2025, 2026, and 2027 respectively [13]. - The OCA adhesive market is anticipated to grow significantly, driven by demand from the smartphone and automotive sectors, particularly with the rise of foldable screen technology [13].

Investment Rating - The report maintains a "Buy-A" investment rating with a target price of 17.99 yuan for the next six months [4][6]. Core Views - The company achieved a revenue of 671 million yuan in Q1 2025, representing a year-on-year growth of 1.09%, while the net profit attributable to shareholders decreased by 48.27% to 10 million yuan [1][2]. - The short-term profit is under pressure due to increased depreciation expenses from major construction projects transitioning to fixed assets, along with rising financial costs [2][3]. - The company is focusing on enhancing innovation and R&D investments, particularly in high-value-added products like OCA optical adhesives, which are gaining market share and breaking the monopoly of international giants [3]. Financial Performance Summary - For 2024, the company reported a revenue of 2.69 billion yuan, a year-on-year increase of 36.68%, with a net profit of 54.88 million yuan, down 2.11% [2][10]. - Projected revenues for 2025 to 2027 are 3.71 billion yuan, 4.90 billion yuan, and 6.52 billion yuan, respectively, with net profits expected to be 163 million yuan, 269 million yuan, and 407 million yuan [4][10]. - The company’s net profit margin is projected to improve from 2.0% in 2024 to 6.2% by 2027 [10][11]. Market Position and Strategy - The company’s main products, functional film materials and electronic-grade adhesives, are primarily used in the consumer electronics and new energy vehicle sectors, which are critical for its profitability [3][10]. - The report highlights the ongoing upgrade and optimization of the product structure, with a focus on increasing the proportion of high-value-added products [3][4].

证券代码：300806 证券简称：斯迪克 公告编号：2025-039 江苏斯迪克新材料科技股份有限公司 第五届监事会第九次会议决议公告 二、监事会会议审议情况 1、审议通过《关于豁免公司第五届监事会第九次会议通知时限的议案》 经审议，全体监事一致同意豁免公司第五届监事会第九次会议的通知时限， 于 2025 年 4 月 24 日召开第五届监事会第九次会议。 表决结果：3 票同意，0 票反对，0 票弃权，议案获得通过。 2、审议通过《关于公司<2025 年第一季度报告>的议案》 经审核，监事会认为公司董事会编制和审核公司《2025 年第一季度报告》的 程序符合相关法律、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，不存在任何虚假记载、误导性陈述或者重大遗漏。 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，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 江苏斯迪克新材料科技股份有限公司第五届监事会第九次会议于 2025 年 4 月 24 日以现场会议方式结合通讯表决方式在公司会议室召开，会议通知于 2025 年 4 月 23 日以短信或电子邮件的方式送达， ...

证券代码：300806 证券简称：斯迪克 公告编号：2025-038 一、董事会会议召开情况 江苏斯迪克新材料科技股份有限公司第五届董事会第十次会议于 2025 年 4 月 24 日以现场会议方式结合通讯表决方式在公司会议室召开，会议通知于 2025 年 4 月 23 日以短信或电子邮件的方式送达，经全体董事一致同意豁免本次董事 会会议通知时限。本次会议由董事长金闯先生召集并主持，应参加表决董事 9 人， 实际参加表决董事 9 人，公司监事及部分高级管理人员列席本次会议。本次会议 的召开符合有关法律、行政法规、部门规章、规范性文件和《江苏斯迪克新材料 科技股份有限公司章程》的有关规定。 二、董事会会议审议情况 1、审议通过《关于豁免公司第五届董事会第十次会议通知时限的议案》 经审议，全体董事一致同意豁免公司第五届董事会第十次会议的通知时限， 于 2025 年 4 月 24 日召开第五届董事会第十次会议。 表决结果：9 票同意，0 票反对，0 票弃权，议案获得通过。 2、审议通过《关于公司<2025 年第一季度报告>的议案》 公司严格按照《证券法》及《深圳证券交易所创业板股票上市规则》等规定， 并根据自身实际情 ...

Revenue and Profit - The company's revenue for Q1 2025 was ¥670,776,062.01, representing a 1.09% increase compared to ¥663,571,141.42 in the same period last year[5] - Net profit attributable to shareholders decreased by 48.27% to ¥9,640,574.36 from ¥18,638,110.39 year-on-year[5] - The net profit after deducting non-recurring gains and losses fell by 78.08% to ¥1,088,189.44 compared to ¥4,963,339.11 in the previous year[5] - Total revenue for the current period reached ¥670,776,062.01, an increase from ¥663,571,141.42 in the previous period, representing a growth of approximately 0.32%[19] - Net profit for the current period was ¥9,637,268.33, down from ¥18,634,823.98, indicating a decline of approximately 48.3%[19] - The total comprehensive income for the period was CNY 9,571,078.09, a decrease of 48.5% compared to CNY 18,581,178.24 in the previous period[20] Earnings Per Share - Basic and diluted earnings per share both decreased by 50.00% to ¥0.02 from ¥0.04 year-on-year[5] - Basic and diluted earnings per share were both CNY 0.02, down from CNY 0.04 in the previous period, representing a 50% decline[20] Cash Flow - The net cash flow from operating activities increased significantly by 146.01% to ¥81,139,624.61 from ¥32,981,918.83 in the same period last year[5] - Cash inflow from operating activities totaled CNY 480,178,584.58, an increase of 14.7% compared to CNY 418,708,195.75 in the previous period[22] - Cash outflow from operating activities was CNY 399,038,959.97, an increase of 3.0% from CNY 385,726,276.92 in the previous period[22] - Net cash flow from financing activities was CNY 51,400,303.32, compared to a negative CNY 6,956,569.21 in the previous period[23] - The company reported cash inflow from borrowings of CNY 604,917,176.59, down 9.3% from CNY 667,163,621.83 in the previous period[23] - The company incurred cash outflow for the repayment of debts totaling CNY 522,876,131.72, a decrease of 16.3% from CNY 624,489,552.09 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,658,500,923.28, a slight increase of 0.24% from ¥7,639,839,857.55 at the end of the previous year[5] - Current assets totaled ¥2,635,494,159.50, compared to ¥2,529,270,360.84 in the previous period, marking an increase of approximately 4.18%[16] - Current liabilities rose to ¥2,798,712,301.77 from ¥2,693,651,714.47, reflecting an increase of about 3.91%[17] - The company's long-term borrowings decreased to ¥1,853,679,857.05 from ¥1,923,227,647.01, a reduction of approximately 3.61%[17] Shareholder Information - The total number of common shareholders at the end of the reporting period is 18,205[10] - The largest shareholder, Jin Chuang, holds 34.25% of the shares, amounting to 155,267,033 shares, with 71,347,233 shares pledged[10] - The second-largest shareholder, Shi Rong, holds 5.24% of the shares, totaling 23,775,181 shares, with 9,000,000 shares pledged[10] - The top 10 shareholders collectively hold 39.50% of the company's total shares[10] - As of March 31, 2025, the total shares held by controlling shareholders Jin Chuang and Shi Rong is 179,042,214, representing 39.50% of the total share capital[13] - 44.88% of the shares held by Jin Chuang and Shi Rong are in a pledged state, which is 80,347,233 shares, accounting for 17.72% of the total share capital[13] Other Financial Information - Financial expenses increased by 35.90% to ¥33,010,484.62, attributed to the capitalization of borrowing costs ceasing as most project loans were completed[9] - Research and development expenses increased to ¥56,512,163.85 from ¥54,985,602.74, representing a growth of about 2.78%[19] - The company reported a decrease in investment income, with losses of ¥2,320,144.18 compared to losses of ¥1,544,158.26 in the previous period[19] - The total number of restricted shares at the beginning of the period was 136,863,875, with 425 shares released during the period[12] - The total number of restricted shares at the end of the period is 137,090,331[12] - The company has no other significant matters to disclose as of March 31, 2025[13] - The financial statements for the quarter ending March 31, 2025, are prepared by Jiangsu Sidik New Materials Technology Co., Ltd.[14]

证券代码：300806 证券简称：斯迪克 公告编号：2025-040 江苏斯迪克新材料科技股份有限公司 2025 年第一季度报告披露提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 江苏斯迪克新材料科技股份有限公司《2025 年第一季度报告》于 2025 年 4 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 （http://www.cninfo.com.cn）上披露，敬请投资者注意查阅。 特此公告。 江苏斯迪克新材料科技股份有限公司 董事会 2025 年 4 月 24 日 1 ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 江苏斯迪克新材料科技股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开第五届董事会第十次会议，审议通过了《关于拟注销控股子公司的议 案》，同意公司注销控股子公司太仓青山绿水环保新材料有限公司（以下简称"青 绿环保"），并授权公司经营管理层依法办理相关清算和注销事宜。 本次注销事项在公司董事会审批权限范围内，无需提交公司股东大会审议。 本次注销事项不涉及关联交易，也不构成重大资产重组。现将具体情况公告如下： 一、本次注销控股子公司的基本情况 公司名称：太仓青山绿水环保新材料有限公司 证券代码：300806 证券简称：斯迪克 公告编号：2025-042 江苏斯迪克新材料科技股份有限公司 关于拟注销控股子公司的公告 统一社会信用代码：91320585MA1Q350P7X 类型：有限责任公司 住所：太仓市经济开发区青岛西路 11 号 法定代表人：金闯 注册资本：1000 万元整 成立日期：2017 年 08 月 14 日 营业期限：2017 年 08 月 14 日至 2047 年 08 月 13 日 ...

斯迪克（300806）公告，2025年第一季度营业收入6.71亿元，同比增长1.09%。净利润964.06万元，同 比下降48.27%。 ...

【WitsView整理】 近日，瑞联新材、路维光电、晶合集成、斯迪克发布了2024年财报。其中瑞联 新材、路维光电、晶合集成实现了营收与净利润的双增长。 瑞联新材 2024年，瑞联新材实现营收约14.59亿元，同比增长20.74%；归属于上市公司股东的净利润约2.52 亿元，同比增长87.60%；归属于上市公司股东的扣除非经常性损益的净利润约2.37亿元，同比增 长103.43%。 | 主要会计数据 | 2024年 | 2023年 | 本期比上年 同期增减 | 2022年 | | --- | --- | --- | --- | --- | | | | | (%) | | | 营业收入 | 1,458,698,343.66 | 1,208,162,739.17 | 20.74 | 1,480,379,426.82 | | 归属于上市公司股东 | 251,722,494.92 | 134.181.283.39 | 87.60 | 246.538.464.91 | | 的净利润 | | | | | | 归属于上市公司股东 的扣除非经常性损益 | 237,366,716.59 | 116.683.527.35 | 1 ...

【WitsView整理】 近日，瑞联新材、路维光电、晶合集成、斯迪克发布了2024年财报。其中瑞联 新材、路维光电、晶合集成实现了营收与净利润的双增长。 瑞联新材 2024年，瑞联新材实现营收约14.59亿元，同比增长20.74%；归属于上市公司股东的净利润约2.52 亿元，同比增长87.60%；归属于上市公司股东的扣除非经常性损益的净利润约2.37亿元，同比增 长103.43%。 报告期内，公司实现营收约3.44亿元同比增长4.83%；归属于上市公司股东的净利润约0.46亿元， 同比增长32.90%。瑞联新材表示，公司净利润的提升主要是公司产品结构持续优化，规模效应进 一步显现，同时公司加强成本管理，综合毛利率提升所致。 | 项目 | 本报告期 | 上年同期 | 本报告期比上年同 期增减变动幅度 | | --- | --- | --- | --- | | | | | (%) | | 营业收入 | 343,971,618.35 | 328,126,092.09 | 4.83 | | 归属于上市公司股东的净利润 | 45.631.603.32 | 34,334,209.63 | 32.90 | | 归属于上市公 ...