铂科新材 20241023 摘要 • 公司 2024 年前三季度营收约 12 亿人民币，同比增长约 43%，净利润为 2.86 亿人民币，同比增长超过 50%。第三季度单季度营收为 4.3 亿人民币，同 比增长 58%，环比下降约 6%，净利润约为 1 亿人民币，同比增长 80%，环 比略有下降。 • 第三季度磁芯业务营收有所下滑，但整体仍处于正常经营节奏。磁粉业务 环比增长接近 50%，主要由于基数较低以及水雾化产能逐步投放所致。新 变电站业务营收同比基本持平，保持了稳定的经营状态。 • 展望第四季度，公司将继续关注市场动态并进行相应调整。从目前外部环 境来看，光伏市场和其他下游行业均处于正常状态。此外，随着水雾化产 能的进一步提升，公司对磁粉业务未来的发展充满信心。 • 公司在手订单情况总体正常，与前几个季度变化不大。磁芯方面有 2-3 个月的在手订单量，新港方面则保持在六七千万左右。这些订单会根据客 户需求不断滚动和调整，以确保生产和交付节奏能够满足市场需求。 • 第三季度公司的毛利率约为 41%，净利率大概在 23%左右。虽然环比略有 调整，但总体仍处于正常经营范围内。磁粉业务由于产能提升带来的效益 ...

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook based on its performance and growth potential [2][4]. Core Insights - The company reported a revenue of 1.227 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 43.63%. The net profit attributable to shareholders reached 286 million yuan, up 51.69% year-on-year [2]. - The growth in revenue and profit is primarily driven by the rapid expansion of the chip inductor business and the continuous growth of the magnetic powder core segment [2]. - The company has achieved significant recognition from global semiconductor manufacturers, which is expected to enhance its market position and growth trajectory [2]. - The report forecasts net profits for 2024, 2025, and 2026 to be 390 million, 506 million, and 621 million yuan respectively, with corresponding PE ratios of 35, 27, and 22 times based on the closing price on October 23, 2024 [2][3]. Financial Summary - For 2024, the company is projected to achieve a revenue of 1.655 billion yuan, reflecting a growth rate of 42.8% compared to 2023. The net profit is expected to be 390 million yuan, with a growth rate of 52.3% [3][5]. - The comprehensive gross margin for the first three quarters of 2024 was 40.63%, with a slight increase in Q3 to 40.93% year-on-year [2]. - The company has maintained a strong focus on R&D, with significant investments aimed at developing new products, particularly in the AI and automotive sectors [2][5].

公司领导发言 谢谢好 谢谢杨老师各位领导大家下午好我是博客新彩IR唐靖浩今天很高兴和大家交流一下公司三个季度主要是第三季度的一个业绩我们昨天晚上披露了三级报关于经营的一个数据这个确实已经有披露了然后包括我们其实在 现在这个时间来看离半年报之后的一个批度包括和市场当时的一个汇报离的时间也不算特别长所以今天我主要就是就Q3的一些经营情况包括一些近况做一些简要的汇报当然也包含可能一些关于Q4的我们的一些初步判断首先公司1到9月的一个营收大概是一个12亿多一些同比有一个43%左右的一个增长利润方面是2.86亿 这个同比有一个大概50多一点的一个增长其实我们截止到这个三个季度以来的一个利润已经超过了去年全年营收好像应该也是差不多的一个水平然后具体到Q3呢我们Q3的一个单季度营收是4.3亿同比有一个58%左右的增长缓比呢其实是有一个大概6个点多的一个一个下降然后净利润呢大概是一个亿左右 红笔的增长高一点大概80%左右然后黄笔同样也是有一点点下降这个其实和我们包括去年以及今年的一个季度的节奏是有一些关系的首先我们在去年的Q3开始是感知到了像光复行业主要影响的是刺青这部分的一个经营情况所以在去年的Q3可能也包含后续的Q4它的 ...

Investment Rating - The report maintains a "Recommended" rating for the company [3][6][13]. Core Views - The company has entered a strong growth phase, driven by three growth curves: chip inductors, soft magnetic powder cores, and metal powder businesses [2][3][6]. - For Q3 2024, the company achieved a revenue of 1.227 billion yuan, a year-on-year increase of 43.63%, and a net profit of 281 million yuan, up 55.41% year-on-year [3][6]. - The chip inductor business has shown explosive growth, with a CAGR of 280.2% from 2020 to 2023, and its revenue in H1 2024 reached 195 million yuan, a quarter-on-quarter increase of 138.92% [3][4][6]. - The alloy soft magnetic powder core business continues to grow steadily, with a revenue increase of 7.03% to 586 million yuan in H1 2024 [3][4][6]. - The metal soft magnetic powder business is being developed as a third growth driver, with a revenue increase of 25.26% to 13.859 million yuan in H1 2024 [4][6]. Summary by Sections Financial Performance - For Q3 2024, the company reported a gross margin of 40.63% and a net profit margin of 23.23% [6]. - The return on equity (ROE) increased to 16.09%, reflecting strong product advantages and cost control [6]. - The company’s asset-liability ratio decreased to 22.11%, indicating strong expansion capability [6]. Growth Drivers - The chip inductor business is expected to contribute significantly to the company's growth, with plans to expand production capacity from 5 million to 10-15 million pieces per month by 2024 [3][4][6]. - The company is also investing 300 million yuan in a new high-end integrated inductor project, enhancing its production capabilities [3][4][6]. - The alloy soft magnetic powder core business is recognized by major clients like BYD and Huawei, further solidifying its market position [3][4][6]. Future Projections - Revenue projections for 2024-2026 are 1.733 billion yuan, 2.296 billion yuan, and 2.794 billion yuan, respectively, with corresponding net profits of 384 million yuan, 524 million yuan, and 650 million yuan [6][7][8]. - The company is expected to maintain a strong growth trajectory, with a projected EPS of 1.93 yuan, 2.63 yuan, and 3.27 yuan for the same period [6][7][8].

证券研究报告 | 2024年10月23日 请务必阅读正文之后的免责声明及其项下所有内容 铂科新材（300811.SZ）——三季报点评 优于大市 三季度维持良好的经营状态，未来有望保持高成长性 公司发布三季报：前三季度实现营收 12.27 亿元，同比+43.63%；实现归母 净利润 2.86 亿元，同比+51.69%。公司 Q3 单季实现营收 4.31 亿元，Q3 环比 -6.58%；实现归母净利润 1.01 亿元，Q3 环比-10.94%。 公司前三季度业绩实现高增长，三季度维持二季度良好的经营状态，主要得 益于：1）金属软磁粉芯保持稳健增长，其中，光伏应用领域 Q1 增长虽有所 放缓，但 Q2 开始明显回暖，预计 Q3 维持 Q2 的状态；2）电感元件(以芯片 电感为主)继续保持高速增长态势，上半年实现销售收入 1.95 亿元，环比 2023 年下半年增长 138.92%，占营业收入的比重达到 24.5%，预计 Q3 维持 Q2 良好的经营水平；3）金属软磁粉末取得了较大的增长，此外，公司筹建 的年产能达 6000 吨/年的粉体工厂，预计下半年可释放部分产能，并预估 2025 年建设完成；4）公司的产品体系 ...

Financial Performance - Revenue for Q3 2024 reached ¥430,721,596.87, an increase of 58.06% year-over-year[2] - Net profit attributable to shareholders was ¥101,262,337.75, up 84.73% compared to the same period last year[2] - The net profit after deducting non-recurring gains and losses was ¥100,878,402.01, reflecting an increase of 87.34% year-over-year[2] - The company reported a 43.63% increase in total revenue for the first nine months of 2024, totaling ¥1,226,822,596.89 compared to ¥854,127,204.12 in the same period last year[8] - Basic earnings per share for Q3 2024 were ¥0.36, an increase of 80.00% year-over-year[2] - Operating profit for the period was CNY 339,160,384.73, representing a 49.4% increase from CNY 226,970,436.31 in the previous year[22] - Net profit attributable to shareholders of the parent company was CNY 286,481,577.29, up 51.8% from CNY 188,863,034.54 in Q3 2023[22] Cash Flow and Investments - Cash flow from operating activities for the year-to-date reached ¥167,562,398.51, a significant increase of 520.05%[2] - Cash received from sales increased to ¥779,164,342, reflecting a growth of 29.35% driven by higher sales[10] - Cash flow from investment activities saw a significant drop, with cash received from investment income down 84.39% to ¥275,098[10] - Total cash inflow from investment activities was CNY 68,481,040.81, down from CNY 311,130,899.36 in Q3 2023[23] - The net cash flow from financing activities was 15,707,167.82 CNY, a significant improvement from -32,412,859.03 CNY in the previous year[24] - Cash inflows from financing activities totaled 161,934,401.68 CNY, compared to 83,649,507.21 CNY in the same quarter last year, representing a growth of 93.6%[24] Assets and Liabilities - Total assets as of September 30, 2024, amounted to ¥2,824,971,157.79, representing a 12.47% increase from the end of the previous year[2] - The total liabilities as of September 30, 2024, were CNY 624 million, compared to CNY 604 million at the beginning of the period, showing an increase of 3.06%[20] - Shareholders' equity attributable to the parent company was ¥2,195,873,881.27, up 15.49% from the previous year-end[2] Research and Development - R&D expenses increased to ¥69,786,648, up 44.52% due to higher investment in research and development[10] - Research and development expenses increased to CNY 69,786,647.71, up 44.5% from CNY 48,288,453.81 in the same quarter last year[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,057[11] - The largest shareholder, Shenzhen Moma New Materials Investment Co., held 23.20% of shares, totaling 65,186,759 shares[12] Corporate Actions and Future Plans - The company plans to issue shares to specific investors through a simplified procedure in 2024[18] - The company is focusing on three growth curves: metal soft magnetic powder cores, chip inductors, and metal soft magnetic powders[15] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[22] - The company is undergoing a board and supervisory committee re-election process, with new candidates nominated for the fourth board and supervisory committee[16][17] Miscellaneous - The company received cash from equity incentives amounting to ¥31,309,346, an increase of 73.48%[10] - The company paid out dividends totaling ¥44,120,824, reflecting a 69.22% increase compared to the previous period[10] - The company did not undergo an audit for the third quarter report[24] - The report was released on October 22, 2024, by the Board of Directors of Shenzhen Boke New Materials Co., Ltd.[24]

证券代码：300811 证券简称：铂科新材 公告编号：2024-070 深圳市铂科新材料股份有限公司 第四届监事会第三次会议决议公告 本公司及监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、监事会会议召开情况 （一）、审议通过《关于公司 2024 年第三季度报告的议案》 公司《2024 年第三季度报告》的编制和审议程序符合法律法规及《公司章 程》的相关规定，格式和内容符合中国证监会和深圳证券交易所的规定，所披露 的信息真实、准确、完整，公允地反映了报告期的财务状况、经营成果和现金流 量。 表决结果：3 票同意，0 票反对，0 票弃权。 三、备查文件 1、 第四届监事会第三次会议决。 特此公告。 深圳市铂科新材料股份有限公司监事会 深圳市铂科新材料股份有限公司（以下简称"公司"）第四届监事会第三 次会议于 2024 年 10 月 22 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 会议室以现场的方式召开。会议通知已于 2024 年 10 月 18 日 通过邮件的方式送达各位监事。本次会议应出席监事 3 人，实际出席监事 3 人。 ...

证券代码：300811 证券简称：铂科新材 公告编号：2024-069 深圳市铂科新材料股份有限公司 第四届董事会第四次会议决议公告 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。 1、 第四届董事会第四次会议决议。 会议由董事杜江华主持，监事、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 2024 年第三季度报告的议案》 公司《2024 年第三季度报告》的编制和审议程序符合法律法规及《公司章 程》的相关规定，格式和内容符合中国证监会和深圳证券交易所的规定，所披 露的信息真实、准确、完整，公允地反映了报告期的财务状况、经营成果和现 金流量。 具体内容详见公司披露于巨潮资讯网（http://www.cninfo.com.cn）的 《2024 年第三季度报告》（公告编号：2024-071）。 表决结果：7 票同意，0 票反对，0 票弃权。 三、备查文件 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"）第四届董事会第四次 会议于 2 ...

铂科新材：前三季度净利润2.86亿元 同比增长51.69% 财联社10月22日电，铂科新材发布2024年第三季 度报告，前三季度实现营业收入12.27亿元，同比增长43.63%；归属于上市公司股东的净利润2.86亿 元，同比增长51.69%；基本每股收益1.02元。 第三季度实现净利润1.01亿元，同比增长84.73%。 报告期内，公司销售规模较上期同期增长，芯片电感收入增长。 查看公告原文 ...

深圳市铂科新材料股份有限公司 舆情管理制度 深圳市铂科新材料股份有限公司 舆情管理制度 第一章 总 则 第一条 为提高深圳市铂科新材料股份有限公司（以下简称公司）应对各类舆情 的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情对公司股价、公 司商业信誉及正常生产经营活动造成的影响，切实保护投资者合法权益，根据《深 圳证券交易所创业板股票上市规则》等相关法律法规的规定和《深圳市铂科新材料 股份有限公司章程》（以下简称《公司章程》），特制订本制度。 第二条 本办法所称舆情包括： 深圳市铂科新材料股份有限公司 舆情管理制度 （经第四届董事会第三次会议审议通过） 第五条 舆情工作组是公司应对各类舆情（尤其是媒体质疑信息）处理工作的领 导机构，统一领导公司应对各类舆情的处理工作，就相关工作作出决策和部署，根 据需要研究决定公司对外发布信息，主要工作职责包括： 第 1 页 深圳市铂科新材料股份有限公司 舆情管理制度 （一）决定启动和终止各类舆情处理工作的相关事宜； （一）报刊、电视、网络等媒体对公司进行的负面报道； （二）社会上存在的已经或者将给公司造成不良影响的传言或信息； （三）可能或者已经影响社会公众投资者 ...