证券代码：300885 证券简称：海昌新材 公告编号：2025-037 扬州海昌新材股份有限公司 第三届董事会第二十二次会议决议公告 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 1、本次董事会通知于2025年11月17日通过专人递送等《公司章程》 规定的形式送达至各位董事。 2、本次董事会于2025年11月27日上午9时以现场表决的方式召开， 现场会议会址为公司二楼会议室。 3、本次董事会应出席董事5名，实际出席董事5名，没有董事委托其 他董事代为出席或缺席本次会议。与会董事以记名投票表决方式对会议 审议议案进行了表决。 4、本次董事会由董事长周光荣先生主持，公司董事会秘书列席了本 次董事会。 5、本次会议的召集、召开和表决程序符合《中华人民共和国公司法》 等法律、法规、规章及规范性文件和《公司章程》的有关规定。 二、董事会会议审议情况 (一) 审议通过了《关于使用闲置自有资金进行现金管理的议案》 具体内容详见公司在中国证监会指定信息披露网站巨潮资讯网 （www.cninfo.com.cn）披露的《关于使用闲置自有资金进行现金管理的 ...

Core Viewpoint - The global Metal Injection Molding (MIM) market is projected to reach $4.405 billion in sales in 2024 and $4.829 billion in 2025, with China dominating the market, holding over 40% of the global share [1][3]. Group 1: MIM Technology Overview - MIM is a "near-net-shape" process that combines traditional powder metallurgy with modern plastic injection molding, recognized as a leading technology for component formation [2]. - The process allows for the production of complex metal parts with a tolerance of ±0.2% and a material utilization rate exceeding 95% [2]. - MIM is particularly suitable for small, complex components that are costly or difficult to manufacture using traditional methods like machining, casting, or forging [2]. Group 2: Market Growth and Projections - The global MIM market is expected to grow at a compound annual growth rate (CAGR) of over 10%, reaching $8.877 billion by 2031 [3]. - In China, the MIM market size was approximately ¥9.5 billion in 2023, with a CAGR of 8.77% from 2015 to 2023, and is projected to grow to ¥10.85 billion in 2024, reflecting a year-on-year increase of 14.2% [3]. Group 3: Emerging Applications in Robotics - The rise of humanoid robots is expanding the application of MIM technology, with potential uses in critical components such as gear reducers, dexterous hand joints, and sensor housings [4]. - MIM can produce complex, lightweight, and high-strength gears, addressing manufacturing challenges in robotics [4]. - The technology offers high precision and consistency for sensor housings and motor components, aligning with the trend towards lightweight designs [4]. Group 4: Investment Opportunities - Key companies to watch in the MIM sector include Tonglian Precision (688210.SH), with additional attention on Dongmu Co., Ltd. (600114.SH) and Haichang New Materials (300885.SZ) [5].

Core Viewpoint - Haichang New Materials, established in 2001 and listed in 2020, operates in the powder metallurgy sector with strong R&D capabilities, but its financial performance lags behind industry leaders [1][2]. Financial Performance - For Q3 2025, Haichang New Materials reported revenue of 203 million yuan, ranking 75th out of 82 in the industry, significantly lower than the top competitor, CIMC, with 117.06 billion yuan [2]. - The company's net profit for the same period was 42.61 million yuan, ranking 50th in the industry, also below the industry average of 124 million yuan [2]. Profitability and Debt Ratios - The company's debt-to-asset ratio stood at 6.45%, well below the industry average of 39.81%, indicating strong solvency [3]. - The gross profit margin was 33.01%, higher than the industry average of 22.64%, despite a slight decrease from the previous year's 33.91% [3]. Executive Compensation - The chairman, Zhou Guangrong, received a salary of 470,500 yuan in 2024, an increase of 52,500 yuan from 2023 [4]. - The general manager, Xu Jiping, earned 1,008,500 yuan in 2024, up by 58,500 yuan from the previous year [4]. Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 41.94% to 22,100 [5].

Core Viewpoint - Haichang New Materials (300885.SZ) reported a decline in revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company's operating revenue for the first three quarters was 203 million yuan, a decrease of 6.74% year-on-year [1] - The net profit attributable to shareholders of the listed company was 42.6068 million yuan, down 6.82% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 39.1443 million yuan, a decrease of 7.23% year-on-year [1] - Basic earnings per share were 0.1717 yuan [1]

Core Viewpoint - Haichang New Materials (300885.SZ) reported a decline in both revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company's operating revenue for the first three quarters was 203 million yuan, representing a year-on-year decrease of 6.74% [1] - The net profit attributable to shareholders of the listed company was 42.6068 million yuan, down 6.82% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 39.1443 million yuan, a decrease of 7.23% year-on-year [1] - Basic earnings per share were 0.1717 yuan [1]

Core Viewpoint - Haichang New Materials reported a decline in both revenue and net profit for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company achieved an operating income of 203 million yuan, representing a year-on-year decrease of 6.74% [1] - The net profit attributable to shareholders was 43 million yuan, down 6.82% year-on-year [1] - Basic earnings per share were 0.1717 yuan, reflecting a decline of 5.81% compared to the same period last year [1]

Financial Performance - Q3 2025 revenue was CNY 64,514,901.03, a decrease of 10.73% year-over-year[8] - Net profit attributable to shareholders was CNY 11,864,487.30, down 21.04% compared to the same period last year[8] - Basic earnings per share decreased by 20.20% to CNY 0.0478[8] - Total operating revenue for the current period was ¥202,532,888.01, a decrease of 6.5% from ¥217,171,878.29 in the previous period[29] - Net profit for the current period was ¥42,606,846.04, a decline of 6.5% compared to ¥45,726,078.10 in the previous period[30] - Basic and diluted earnings per share were both ¥0.1717, down from ¥0.1823 in the previous period[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 939,762,563.91, an increase of 1.03% from the end of the previous year[8] - The total liabilities decreased to ¥60,633,044.51 from ¥63,617,645.11, showing a reduction of about 4.7%[27] - The total assets increased slightly to ¥939,762,563.91 from ¥930,141,862.80, indicating a marginal growth of about 0.2%[27] - The company’s accounts receivable decreased to ¥83,117,397.75 from ¥106,651,097.46, a decline of approximately 22.1%[26] - The company’s non-current assets totaled ¥170,650,491.95, down from ¥176,025,757.40, reflecting a decrease of about 3.1%[27] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 59,093,892.47, down 12.74%[8] - Cash flow from operating activities generated ¥59,093,892.47, a decrease of 12.5% from ¥67,723,811.49[31] - Cash inflow from investment activities totaled ¥203,222,771.67, down from ¥347,742,714.48 in the previous period[31] - Net cash flow from investing activities was $11,296,791.69, compared to a negative cash flow of $10,309,472.52 in the previous period[32] - The net increase in cash and cash equivalents was $41,259,319.80, compared to $24,356,414.34 in the prior period[32] Shareholder Information - The total number of common shareholders at the end of the reporting period was 22,150[21] - The total equity attributable to shareholders of the parent company was ¥879,129,519.40, an increase from ¥866,524,217.69[30] Investments and Acquisitions - The company plans to acquire 51% equity in Shenzhen Xinfai Communication Technology Co., Ltd. through a cash payment, as per the signed agreement on September 19, 2025[25] Other Financial Metrics - Research and development expenses increased to ¥12,089,582.37, up from ¥10,878,645.35, reflecting a focus on innovation[29] - Financial expenses showed a net income of -¥5,378,860.23, an improvement compared to -¥7,266,352.97 in the previous period[29] - Total cash inflow from financing activities was $2,139,768.00, an increase from $1,583,270.89 year-over-year[32] - Cash outflow for financing activities totaled $31,662,240.05, down from $35,566,253.15 in the previous period[32] - Net cash flow from financing activities was negative at -$29,522,472.05, compared to -$33,982,982.26 previously[32] Audit Status - The third quarter financial report was not audited[33]

Core Viewpoint - Haichang New Materials reported a decline in both revenue and net profit for the third quarter and the first three quarters of the year, indicating potential challenges in its financial performance [1] Financial Performance Summary - Q3 revenue was 64.5149 million yuan, a decrease of 10.73% [1] - Q3 net profit was 11.8645 million yuan, a decrease of 21.04% [1] - Revenue for the first three quarters was 203 million yuan, a decrease of 6.74% [1] - Net profit for the first three quarters was 42.6068 million yuan, a decrease of 6.82% [1]

Group 1 - The core viewpoint of the article highlights the financing trends and investment activities within China's powder metallurgy industry, focusing on the purpose of financing and the nature of external investments by representative companies [1][2][10]. - Financing activities of listed companies in the powder metallurgy sector are primarily aimed at expanding production lines and supplementing working capital, with most financing conducted through private placements [1][10]. - Significant financing events include Tianxuan New Materials raising 22.97 million RMB for high-performance carbon-ceramic brake disc projects and Shandong Weida raising 1.55 million RMB for expanding automated assembly workshops for new energy storage [1][10]. Group 2 - Representative companies in the powder metallurgy industry are actively engaging in external investments, primarily for extending their industrial chain by establishing subsidiaries [2][9]. - Notable external investments include Anhui Hengjun Powder Metallurgy investing 3 million RMB in Wuhu Junzhuo New Energy Materials Co., focusing on new material technology research and metal material manufacturing [3][9]. - Other investments involve companies like Antai Technology and Mingyang Technology, which are diversifying their business operations and enhancing their technological capabilities through strategic investments [9][10]. Group 3 - The overall investment and financing events in the powder metallurgy industry are characterized as strategic financing, with a relatively low frequency of transactions [10][11]. - As of June 2025, the financing events include various rounds, with angel/seed rounds accounting for 29%, A rounds approximately 24%, and strategic financing making up about 41% of the total [12][10]. - The industry has seen limited merger and acquisition activities, primarily involving larger listed companies acquiring medium-sized powder metallurgy firms [15][10].

Group 1 - The company, Yangzhou Haichang New Materials Co., Ltd., held a specific investor survey on September 25, 2025, attended by 13 institutions including Guosheng Securities [1] - The company specializes in powder metallurgy pressing and metal injection molding technologies, with applications in electric tools and automotive sectors, including new energy vehicles [1] - The company is actively developing new applications and has entered a rapid growth phase for its MIM product line, with SMC soft magnetic products now in mass production [1] Group 2 - The company is optimistic about the humanoid robot sector and has established collaborations with leading domestic intelligent robot clients, supported by government initiatives [2] - A recent agreement for the acquisition of Xinwei Communications was signed, aimed at leveraging its market presence and profitability to enhance the company's influence and product applications [2] - The company’s production of customized powder metallurgy components is distinct from competitors, focusing on diverse fields rather than solely on automotive or home appliance sectors [2] Group 3 - The impact of the tariff war on the company is limited, and a new factory in Vietnam has passed domestic ODI review, with an expected annual capacity of 3,000 tons [2] - SMC products are currently in the customer validation phase, with mass production expected around 2026, which could significantly increase revenue from new energy vehicles [2] - The powder metallurgy industry is characterized by strong stability and high customer retention, with over 60% of the company's revenue coming from overseas markets, positioning it well for global electric tool market growth [2]