格隆汇10月21日丨铂科新材(300811.SZ)公布三季度报告，前三季营业收入13亿元，同比增长6.03%，归 属于上市公司股东的净利润2.9亿元，同比增长2.48%，归属于上市公司股东的扣除非经常性损益的净利 润2.89亿元，同比增长2.97%。 ...

Core Insights - The company, Placo New Materials (300811), reported its Q3 2025 results, showing a revenue of 440 million yuan, which is a year-on-year increase of 2.18% [1] - The net profit attributable to shareholders for Q3 2025 was 102 million yuan, reflecting a year-on-year growth of 1.01% [1] - For the first three quarters of 2025, the company achieved a total revenue of 1.301 billion yuan, marking a year-on-year increase of 6.03% [1] - The net profit attributable to shareholders for the first three quarters was 294 million yuan, with a year-on-year growth of 2.48% [1]

智通财经APP讯，铂科新材(300811.SZ)披露2025年第三季度报告，公司前三季度实现营收13.01亿元， 同比增长6.03%;归属于上市公司股东的净利润2.94亿元，同比增长2.48%;扣非净利润2.89亿元，同比增 长2.97%;基本每股收益1.0221元。 ...

深圳市铂科新材料股份有限公司 第四届董事会第十三次会议决议公告 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 深圳市铂科新材料股份有限公司（以下简称"公司"）第四届董事会第十三 次会议于 2025 年 10 月 21 日（星期二）在深圳市南山区沙河西路 3157 号南山智 谷产业园 B 座 13F 会议室以现场结合通讯的方式召开。会议通知已于 2025 年 10 月 18 日通过邮件的方式送达各位董事。本次会议应出席董事 7 人，实际出席董 事 7 人（其中：通讯方式出席董事 1 人）。 会议由董事长杜江华主持，高管列席。会议召开符合有关法律、法规、规 章和《公司章程》的规定。经各位董事认真审议，会议形成了如下决议： 二、董事会会议审议情况 （一）审议通过《关于公司 2025 年第三季度报告的议案》 证券代码：300811 证券简称：铂科新材 公告编号：2025-072 具体内容详见公司披露于巨潮资讯网（http://www.cninfo.com.cn）的《2025 年第三季度报告》（公告编号：2025-073）。 表决结果：7 票同 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥440,125,723.14, an increase of 2.18% year-over-year, while the year-to-date revenue was ¥1,300,792,094.49, up 6.03% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2025 was ¥102,285,464.81, reflecting a 1.01% increase year-over-year, and year-to-date net profit was ¥293,582,389.60, up 2.48%[5] - Total revenue for the period reached ¥1,300,792,094.49, an increase of 6.0% compared to ¥1,226,822,596.89 in the previous period[21] - Net profit for the period was ¥296,811,221.06, reflecting a growth of 4.9% from ¥285,011,091.82 year-over-year[22] - The total comprehensive income for the period was approximately ¥296.81 million, compared to ¥285.01 million in the previous period, reflecting an increase of about 4.8%[23] Cash Flow - The company's cash flow from operating activities for the year-to-date period increased significantly by 87.28%, totaling ¥313,818,873.70[5] - Cash inflow from operating activities reached ¥1,026.35 million, up from ¥795.34 million, representing a growth of approximately 29.0%[23] - Net cash flow from operating activities was ¥313.82 million, significantly higher than ¥167.56 million in the previous period, indicating an increase of about 87.2%[23] - Cash inflow from financing activities was ¥455.35 million, up from ¥161.93 million, marking an increase of approximately 180.8%[24] - Net cash flow from financing activities was ¥327.21 million, a substantial increase from ¥15.71 million in the previous period[24] Assets and Liabilities - Total assets at the end of Q3 2025 amounted to ¥3,801,230,515.87, representing a 23.42% increase from the end of the previous year[5] - Current assets totaled ¥1,878,499,121.60, up 33.0% from ¥1,412,541,997.20 at the start of the period[19] - Total liabilities increased to ¥881,424,216.82, compared to ¥759,382,766.05 at the beginning of the period, indicating a rise of 16.1%[19] Shareholder Equity - The company's equity attributable to shareholders increased by 25.45% year-over-year, reaching ¥2,898,366,453.82[5] - The company’s equity attributable to shareholders reached ¥2,898,366,453.82, up from ¥2,310,315,179.47, reflecting a growth of 25.4%[20] - The capital reserve increased to ¥1,143,205,828.50, a substantial rise from ¥799,391,449.03[20] Research and Development - Research and development expenses for the year-to-date period were ¥93,693,198.10, a 34.26% increase compared to ¥69,786,647.71 in the same period last year[11] - The company reported a research and development expense of ¥93,693,198.10, which is a 34.2% increase from ¥69,786,647.71 in the previous period[21] Investments - The company plans to invest CNY 80 million in a new venture capital fund focused on semiconductor and AI sectors, representing 32% of the total fund[17] - The company invested CNY 32 million in external investment activities, marking a 100% increase[12] - Cash received from investment income surged by 678.99% to CNY 2.14 million, up from CNY 0.28 million in the previous year[12] - Cash received from other investment activities increased by 671.26% to CNY 524.46 million, compared to CNY 68 million in the same period last year[12] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,246[14] - The largest shareholder, Shenzhen Moma New Materials Investment Co., held 22.49% of the shares, totaling 65,186,759 shares[15] Employee Compensation - Cash paid to employees increased by 36.44% to CNY 259.96 million due to a rise in employee numbers and salaries[12] Fixed Assets - Cash paid for purchasing fixed assets rose by 59.36% to CNY 184.27 million, attributed to increased equipment purchases[12] Trading Financial Assets - The company reported a significant increase of 488.06% in trading financial assets, totaling ¥243,646,312.08, due to the purchase of wealth management products[10] Contract Liabilities - The company's contract liabilities surged by 267.47%, indicating an increase in customer prepayments[10] Earnings Per Share - Basic and diluted earnings per share were both ¥1.0221, slightly down from ¥1.0244 in the previous period[23]

Core Insights - The company reported third-quarter revenue of 440 million yuan, representing a year-on-year increase of 2.18% [1] - The net profit for the third quarter was 102 million yuan, showing a year-on-year growth of 1.01% [1] - For the first three quarters, the total revenue reached 1.301 billion yuan, reflecting a year-on-year increase of 6.03% [1] - The net profit for the first three quarters amounted to 294 million yuan, with a year-on-year growth of 2.48% [1]

Core Viewpoint - The metal new materials sector experienced a rise of 1.78% on October 21, with significant contributions from leading stocks like Placo New Materials [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3916.33, up 1.36% [1] - The Shenzhen Component Index closed at 13077.32, up 2.06% [1] Group 2: Individual Stock Performance - Tianhe Magnetic Materials (603072) closed at 49.36, down 1.48% with a trading volume of 39,300 lots [1] - Jinli Permanent Magnet (300748) closed at 39.91, down 1.02% with a trading volume of 603,900 lots [1] - Zhongke Magnetic Industry (301141) closed at 60.15, down 0.66% with a trading volume of 32,200 lots [1] - Zhenghai Magnetic Materials (300224) closed at 16.73, down 0.06% with a trading volume of 253,400 lots [1] - Ningbo Yunsheng (600366) closed at 14.21, up 0.28% with a trading volume of 282,500 lots [1] - Youyan Powder Materials (688456) closed at 45.55, up 0.49% with a trading volume of 11,600 lots [1] - Insite (301622) closed at 80.73, up 0.71% with a trading volume of 10,100 lots [1] - Yingyubiao (000795) closed at 10.75, up 0.75% with a trading volume of 159,100 lots [1] - Galaxy Magnetic Materials (300127) closed at 35.60, up 0.76% with a trading volume of 165,800 lots [1] - Zhongke Sanhuan (000970) closed at 13.95, up 0.94% with a trading volume of 210,500 lots [1] Group 3: Capital Flow - The metal new materials sector saw a net outflow of 5.57 million yuan from main funds, while retail investors contributed a net inflow of 20.7 million yuan [1]

Core Insights - The steel industry is experiencing a gradual recovery in demand, with a notable increase in apparent consumption and a decrease in inventory levels, indicating a potential stabilization in the market [1][3] - Despite the positive demand trends, profitability in the steel sector has declined, with significant drops in gross margins for key products, suggesting ongoing cost pressures [2] - The supply side is expected to continue its contraction, supported by government policies aimed at reducing production and promoting a balance between supply and demand [3] Demand and Supply Analysis - Apparent consumption of the five major steel products reached 8.7541 million tons, up by 1.2398 million tons week-on-week, with construction materials and sheet products also showing increases [1] - Total steel production was 8.5695 million tons, down by 0.0636 million tons, while total inventory decreased to 15.8226 million tons, down by 0.1846 million tons, maintaining a low level [1] - The operating rate of blast furnaces remained stable at 84.27%, while electric furnace operating rates increased slightly, indicating a mixed response in production capabilities [1] Profitability Trends - The average gross profit for rebar fell to 111.6 CNY per ton, down by 34.3 CNY per ton, and for hot-rolled coils, it dropped to 21.6 CNY per ton, down by 67.6 CNY per ton [2] - The profitability rate for 247 steel companies decreased to 55.41%, down by 0.87% week-on-week, reflecting the challenges faced by the industry [2] Future Outlook - The demand from the real estate sector is expected to weaken, but stable growth is anticipated in infrastructure and manufacturing, which may support overall steel demand [3] - The government has introduced policies to control production, aiming to phase out inefficient capacities and support advanced enterprises, which may lead to a quicker recovery in the steel industry's fundamentals [3] Investment Recommendations - Companies with leading technology and product structures, such as Baosteel (600019.SH) and Hualing Steel (000932.SZ), are recommended for their competitive advantages [5] - Low-valuation, high-dividend steel companies like CITIC Special Steel (000708.SZ) and Yongjin Shares (603995.SH) are also highlighted as attractive investment opportunities [5] - The report suggests a positive outlook for upstream resource companies, recommending firms like Hebei Steel Resources (000923.SZ) and Erdos (600295.SH) due to their long-term advantages [5]

Investment Rating - The report maintains an "Overweight" rating for the steel industry [5]. Core Viewpoints - Demand is expected to gradually bottom out, and supply-side market clearing has begun, indicating a potential recovery in the steel industry's fundamentals. If supply policies are implemented, the contraction of supply may accelerate, leading to quicker industry recovery [3][8]. - The report highlights a week-on-week increase in steel consumption and a decrease in inventory levels, suggesting a positive trend in demand recovery post-holiday [5][12]. - Profit margins for steel production have decreased, with average gross margins for rebar and hot-rolled coils declining significantly [5][42]. Summary by Sections Steel Prices and Inventory - Last week, the price of Shanghai rebar fell by 50 CNY/ton to 3210 CNY/ton, a decrease of 1.54%. Hot-rolled coil prices dropped by 120 CNY/ton to 3280 CNY/ton, a decline of 3.53% [8]. - Total inventory of major steel products decreased to 15.82 million tons, down 1.15% week-on-week [12]. Raw Materials - Iron ore spot prices decreased by 10 CNY/ton to 780 CNY/ton, while futures prices fell by 24.5 CNY/ton to 771 CNY/ton [51]. - Iron ore port inventory rose to 142.78 million tons, an increase of 1.81% [53]. Production and Profitability - The total steel production last week was 8.57 million tons, a decrease of 6.36 million tons week-on-week [36]. - The average gross margin for rebar was 111.6 CNY/ton, down 34.3 CNY/ton, while for hot-rolled coils, it was 21.6 CNY/ton, down 67.6 CNY/ton [42]. Market Outlook - The report anticipates that the demand for steel will stabilize, with a gradual recovery expected in the construction and manufacturing sectors, despite ongoing challenges in the real estate market [5][8]. - The steel industry is expected to benefit from policies aimed at reducing inefficient production capacity and promoting high-quality development [5].

Group 1 - The core viewpoint of the news is that Placo New Materials Co., Ltd. has seen a stock price increase of 5.3%, reaching 72.69 yuan per share, with a total market capitalization of 21.045 billion yuan as of the report date [1] - The company, established on September 17, 2009, specializes in the research, production, and sales of metal soft magnetic powders, soft magnetic powder cores, and inductive components, contributing to energy-efficient and environmentally friendly operations in power electronic devices [1] - The main revenue composition of the company includes 96.69% from metal soft magnetic powder products, 3.07% from metal soft magnetic powder, and 0.25% from other business income [1] Group 2 - From the perspective of fund holdings, Penghua Fund has one fund heavily invested in Placo New Materials, specifically the 1000 ETF Enhanced (560590), which held 3,800 shares, accounting for 1.1% of the fund's net value [2] - The 1000 ETF Enhanced fund was established on September 1, 2023, with a latest scale of 16.0187 million yuan, achieving a year-to-date return of 25.59% and a one-year return of 37.88% [2] - The fund manager, Kou Binquan, has a tenure of 2 years and 123 days, with the fund's total asset scale at 9.65 billion yuan, achieving a best return of 95.84% during his tenure [3]