2024 年年度股东大会决议公告 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。 证券代码：300842 证券简称：帝科股份 公告编号：2025-016 无锡帝科电子材料股份有限公司 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的情形。 一、会议召开和出席情况 (一) 会议召开情况 1. 会议召开的日期、时间： 现场会议时间：2025 年 3 月 20 日（星期四）下午 14:30 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具体时间为： 2025 年 3 月 20 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互 联网投票系统投票的具体时间为：2025 年 3 月 20 日 9:15-15:00 期间的任意时间。 2. 会议地点：江苏省无锡市宜兴市屺亭街道永盛路 8 号，无锡帝科电子材 料股份有限公司四楼会议室。 3. 会议召开方式：本次会议采用现场投票与网络投票相结合的方式召开。 4. 会议召集人：公司董事会。 (二) 会议出席情况 1. 出席 ...

上海市通力律师事务所 关于无锡帝科电子材料股份有限公司 2024 年年度股东大会的法律意见书 致: 无锡帝科电子材料股份有限公司 上海市通力律师事务所(以下简称"本所")接受无锡帝科电子材料股份有限公司(以下 简称"公司")的委托, 指派本所纪宇轩律师、说钰律师(以下简称"本所律师")根据《中华 人民共和国公司法》《中华人民共和国证券法》《上市公司股东大会规则》等法律法规和规 范性文件(以下统称"法律法规")及《无锡帝科电子材料股份有限公司章程》(以下简称"公 司章程")的规定就公司 2024 年年度股东大会(以下简称"本次股东大会")相关事宜出具 法律意见。 本所律师已经对公司提供的与本次股东大会有关的法律文件及其他文件、资料予以了 核查、验证。在进行核查验证过程中, 公司已向本所保证, 公司提供予本所之文件中的所有 签署、盖章及印章都是真实的, 所有作为正本提交给本所的文件都是真实、准确、完整和有 效的, 且文件材料为副本或复印件的, 其与原件一致和相符。 在本法律意见书中, 本所仅对本次股东大会召集和召开的程序、出席本次股东大会人员 资格和召集人资格及表决程序、表决结果是否符合法律法规和公司章程的规定发 ...

Summary of the Conference Call for 帝科股份 Company Overview - The conference call discusses 帝科股份, a leading company in the field of high-purity copper powder and silver-coated copper technology, particularly in the photovoltaic (PV) industry [3][4]. Key Industry Insights - The development of low-temperature metallization has evolved from low-resistance metallization, with a focus on cash metallization processes [3]. - The company is positioned to address significant challenges in the transition from silver to copper in PV cell metallization, including oxidation resistance, diffusion barrier issues, and suitable sintering process designs [4]. Core Points and Arguments - **High Copper Paste Technology**: 帝科股份 has developed high copper paste that combines seed layer paste with upper layer paste, achieving a silver content of approximately 20%, with plans to reduce it to around 10%, significantly lower than the current industry standard of 30% to 50% [3][5]. - **Strategic Partnerships**: The company has established strategic collaborations with top ten leading customers to validate high copper conductive material technology and enter large-scale production [3][12]. - **Market Growth Projections**: Expected growth drivers for 2025 include large-scale deployment of BC cells, capacity enhancements due to new strategies, and the market introduction of high copper materials [3][24]. - **Technical Barriers**: The company maintains a competitive edge through unique design features, including special glass powder systems, copper powder systems, and surface treatment techniques that are difficult for competitors to replicate [9][10]. Additional Important Insights - **Cost Efficiency**: The high copper paste design aims to provide cost competitiveness while conserving silver resources, which is crucial for customer affordability [3][5]. - **Product Reliability**: The company employs silver metal passivation and dual protection designs to enhance the reliability and efficiency of new copper-containing conductive pastes [10]. - **Future Product Development**: Plans to further reduce silver content to below 8% are in place, with ongoing verification of copper conductive materials facing oxidation challenges [14]. - **Market Positioning**: The company anticipates that its new products will maintain a high market position due to their unique properties and the technical barriers involved in their production [22]. Financial Outlook - The initial pricing strategy for new products, such as fluorescent powder paste, is set at approximately 5,000 yuan per kilogram, with expectations to lower it to below 4,000 yuan as production scales up [15][16]. - Despite potential price reductions, the company expects to maintain good profitability due to effective market demand and cost control measures [17]. Conclusion - 帝科股份 is strategically positioned to leverage its technological advancements and partnerships to capture significant market share in the photovoltaic industry, with a strong focus on cost efficiency, product reliability, and innovative solutions to meet evolving customer needs [24][25].

证券代码：300842 证券简称：帝科股份 公告编号：2025-015 无锡帝科电子材料股份有限公司 关于举办 2024 年度网上业绩说明会的公告 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。 会 议 问 题 征 集 ： 投 资 者 可 于 2025 年 03 月 21 日 前 访 问 网 址 https://eseb.cn/1mAdr7cuj6g 或使用微信扫描下方小程序码进行会前提问，公司将 通过本次业绩说明会，在信息披露允许范围内就投资者普遍关注的问题进行回答。 无锡帝科电子材料股份有限公司（以下简称"公司"）已于 2025 年 02 月 28 日在巨潮资讯网（www.cninfo.com.cn）上披露了《2024 年年度报告》及其摘要。 为使广大投资者更全面深入地了解公司发展战略、经营业绩等情况，公司定于 2025 年 03 月 21 日（星期五）15:00-16:30 在"价值在线"（www.ir-online.cn） 举办公司 2024 年度网上业绩说明会，与投资者进行沟通和交流，广泛听取投资 者的意见和建议。 一、说明会召开的时间、地点和方式 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company has shown steady performance with a significant increase in revenue and a leading position in the photovoltaic conductive silver paste market. The company is expected to achieve mass production of high copper paste in the second half of the year [5][8] - The company reported a total revenue of 15.35 billion yuan for 2024, representing a year-on-year growth of 59.85%. However, the net profit attributable to the parent company was 360 million yuan, a decrease of 6.66% year-on-year [8] - The company maintains a strong market position with 89.10% of its conductive silver paste sales being used in N-type TOPCon batteries, indicating a robust demand for its products [8] Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 15.35 billion yuan, with a year-on-year growth of 59.85%. The net profit attributable to the parent company was 360 million yuan, down 6.66% year-on-year. The fourth quarter of 2024 saw a revenue of 3.84 billion yuan, up 9.57% year-on-year [8] - The company expects revenues of 17.08 billion yuan, 19.03 billion yuan, and 21.32 billion yuan for 2025, 2026, and 2027 respectively, with growth rates of 11.26%, 11.43%, and 12.03% [5][8] Market Position and Product Development - The company has a strong market presence in the photovoltaic sector, with 2037.69 tons of conductive silver paste sold in 2024, an increase of 18.91% year-on-year. The sales of TOPCon silver paste reached 1815.53 tons, accounting for 89.10% of total sales [8] - The company is collaborating with leading clients to develop high copper paste, which is expected to enter mass production in the latter half of the year. This development is anticipated to enhance the company's technological barriers and market competitiveness [8] Valuation Metrics - The projected earnings per share (EPS) for the company are 3.56 yuan, 4.34 yuan, and 4.99 yuan for 2025, 2026, and 2027 respectively. The corresponding price-to-earnings (P/E) ratios are 13.89x, 11.39x, and 9.92x [5][8]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown steady performance, with high copper paste expected to achieve mass production [1] - The company reported a revenue of 15.35 billion yuan for 2024, a year-on-year increase of 59.85%, while the net profit attributable to shareholders was 360 million yuan, a decrease of 6.66% [8] - The company maintains a leading position in the photovoltaic conductive silver paste market, with sales of 2,037.69 tons in 2024, an increase of 18.91% year-on-year [8] - The company is expected to benefit from ongoing technological advancements and new business developments, with projected revenues of 17.08 billion yuan, 19.03 billion yuan, and 21.32 billion yuan for 2025, 2026, and 2027 respectively, reflecting year-on-year growth rates of 11.26%, 11.43%, and 12.03% [8] Summary by Sections Financial Performance - The company achieved a total revenue of 15.35 billion yuan in 2024, with a year-on-year growth of 59.85% [8] - The net profit attributable to shareholders was 360 million yuan, down 6.66% year-on-year [8] - The company’s gross profit margin for 2024 was 9% [9] Sales and Market Position - The company sold 2,037.69 tons of photovoltaic conductive silver paste in 2024, with 1,815.53 tons (89.10%) used for N-type TOPCon batteries, maintaining industry leadership [8] - In Q4 2024, the company achieved sales of 456.53 tons of silver paste, with 429.13 tons (94.00%) being TOPCon silver paste [8] Technological Development - The company is collaborating with leading clients to develop high copper paste, which is expected to enter mass production in the second half of the year [8] - The company is enhancing its technological barriers through innovative designs and applications for high copper paste [8] Future Projections - The company is projected to achieve net profits of 501 million yuan, 611 million yuan, and 702 million yuan for 2025, 2026, and 2027 respectively [8] - The current P/E ratios are estimated at 13.89x for 2025, 11.39x for 2026, and 9.92x for 2027 [8]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified for the next six months [1]. Core Views - The company has experienced significant growth in silver paste shipments, with high copper paste materials continuing to break through [1]. - In the semiconductor sector, the company achieved revenue of 14.113 million yuan in 2024, representing a year-on-year increase of 56.7% [2]. - The company is positioned as a global leader in photovoltaic paste materials, with ongoing advancements in high copper paste technology enhancing its technical barriers [8]. Financial Summary - The company reported a revenue of 15.350 billion yuan in 2024, a year-on-year increase of 59.9%, while the net profit attributable to the parent company was 359.96 million yuan, down 6.7% year-on-year [8]. - The company’s revenue is projected to grow to 16.919 billion yuan in 2025, with a growth rate of 10.2%, and further to 21.542 billion yuan by 2027 [3][11]. - The earnings per share (EPS) are expected to increase from 2.56 yuan in 2024 to 5.19 yuan by 2027 [3][11]. - The return on equity (ROE) is forecasted to be 20.58% in 2024, increasing to 22.57% by 2027 [3][11]. Business Segments - The photovoltaic conductive silver paste segment is expected to generate revenue of 12.864 billion yuan in 2024, with a growth rate of 41.7% [9]. - The conductive adhesive business is anticipated to grow significantly, with revenue projected to increase from 14.1 million yuan in 2024 to 50.8 million yuan by 2027 [9]. - The company is focusing on enhancing its technology in high copper paste materials, which includes the development of new formulations and processing techniques [8].

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Views - The company achieved a revenue of 15.35 billion yuan in 2024, representing a year-on-year increase of 59.85%. However, the net profit attributable to the parent company was 360 million yuan, a decrease of 6.66% year-on-year [2][5]. - In Q4 2024, the company reported a revenue of 3.842 billion yuan, which is a year-on-year increase of 9.57% but a quarter-on-quarter decrease of 2.06%. The net profit for this quarter was 67 million yuan, down 27.83% year-on-year but up 11.94% quarter-on-quarter [2][5]. Financial Performance - The company sold 2,037.69 tons of photovoltaic conductive silver paste in 2024, an increase of 18.91% from the previous year. Among this, 1,815.53 tons were for N-type TOPCon battery products, accounting for 89.10% of total sales, leading the industry [10]. - The company has focused on managing accounts receivable effectively, with a total of 117 million yuan in credit impairment losses and asset impairment provisions [10]. - The company is actively developing low-silver metallization technologies to adapt to market changes, with a series of product solutions designed for the transition from silver to copper [10]. Market Position and Strategy - The company is a pioneer in the industrialization of laser-enhanced sintering metallization technology and continues to lead the development and upgrade of TOPCon technology [10]. - The company has established long-term cooperative development with leading clients for high-copper paste designs, aiming for large-scale production in the second half of the year [10].

Core Viewpoint - Dike Co., Ltd. (300842) is collaborating with leading customers to develop high copper paste materials, aiming for large-scale production in the second half of the year [1] Group 1 - The company has established long-term cooperative development with leading customers for high copper paste materials [1] - The company has introduced design and application solutions for high copper paste materials targeting TOPCon and other high-temperature batteries [1] - The company is actively promoting related solutions for application in TBC battery fields [1]

Group 1: Company Performance and Market Strategy - The company is currently unable to accurately predict the total shipment target for 2025 due to the need for further evaluation of policy impacts and downstream customer operating rates [1] - The primary goal for this year is to focus on serving high-quality leading customers to enhance market share [1] - The company’s semiconductor packaging slurry revenue exceeded 10 million RMB for the first time in 2024, indicating a strong market development effort [2] Group 2: Product Development and Innovation - The company has made significant progress in high copper paste development, with plans for large-scale production expected in the second half of the year [1] - Collaboration with leading customers has led to the development of high copper paste solutions for TOPCon and TBC battery applications [1] - The company is focusing on optimizing core technical capabilities in conductive, thermal, and adhesive materials, aiming for further innovation in semiconductor packaging [2] Group 3: Pricing and Supply Chain - The pricing model for high copper paste is expected to shift from a processing fee model to a direct product pricing model as technology advances and costs decrease [4] - The company utilizes a diverse supplier structure for raw materials needed in high copper paste production, enhancing technical barriers through unique surface treatments and formula enhancements [5] Group 4: Customer Relations and Financial Management - The company maintains stable payment terms for downstream customers, with dynamic assessments based on customer credit status [3]