Financial Performance - The company's operating revenue for Q1 2025 was ¥210,061,076.49, a decrease of 14.48% compared to ¥245,620,508.07 in the same period last year[5] - Net profit attributable to shareholders was ¥12,921,768.94, down 15.49% from ¥15,290,471.93 year-on-year[5] - Total operating revenue decreased to ¥210,061,076.49 from ¥245,620,508.07, representing a decline of approximately 14.4% year-over-year[21] - Total operating costs decreased to ¥195,871,456.83 from ¥226,800,567.81, a reduction of about 13.6% year-over-year[21] - Net profit for the period was ¥12,921,768.94, down from ¥15,290,471.93, reflecting a decrease of approximately 15.5% year-over-year[22] - Operating profit decreased to ¥15,196,411.37 from ¥17,936,022.59, a decline of about 15.4% year-over-year[22] - The company reported a basic earnings per share of ¥0.04, a decrease of 20.00% from ¥0.05 in the previous year[5] Cash Flow and Liquidity - The net cash flow from operating activities improved by 52.57%, reaching -¥17,158,669.68 compared to -¥36,177,137.88 in the previous year[5] - Cash flow from operating activities showed a net outflow of ¥17,158,669.68, an improvement compared to the previous outflow of ¥36,177,137.88[24] - Cash and cash equivalents at the end of the period were ¥43,183,440.03, compared to ¥33,209,947.51 at the end of the previous period, indicating an increase of approximately 30.0%[25] - The company's cash and cash equivalents decreased by 45.38%, totaling ¥65,261,151.18 compared to ¥119,473,901.91 at the beginning of the period[8] - The company's cash and cash equivalents decreased from CNY 119,473,901.91 to CNY 65,261,151.18, a drop of approximately 45.49%[17] - The company experienced a net cash outflow from investing activities of ¥33,854,457.06, compared to an outflow of ¥56,166,060.05 in the previous period, indicating a reduction in investment spending[25] - Financing activities generated a net cash inflow of ¥2,664,388.02, a significant decrease from the previous inflow of ¥60,414,716.11, reflecting tighter financing conditions[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,778,765,508.15, a decrease of 4.27% from ¥1,858,146,205.53 at the end of the previous year[5] - The company's total assets decreased from CNY 1,858,146,205.53 at the beginning of the period to CNY 1,778,765,508.15 at the end of the period, representing a decline of approximately 4.29%[17] - Current assets decreased from CNY 1,112,928,190.57 to CNY 1,006,016,563.46, a reduction of about 9.57%[17] - Total liabilities decreased from CNY 791,219,185.31 to CNY 716,488,562.92, a decline of about 9.43%[18] - The total equity attributable to shareholders was ¥1,062,276,945.23, a slight decrease of 0.44% from ¥1,066,927,020.22 at the end of the previous year[5] - The total equity attributable to the parent company decreased from CNY 1,066,927,020.22 to CNY 1,062,276,945.23, a slight decline of approximately 0.44%[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 26,860[10] - The number of restricted shares held by major shareholders decreased by 6,191,350 shares during the reporting period[13] Government Support and R&D - The company received government subsidies amounting to ¥2,028,419.74, an increase of 120.91% compared to ¥918,204.85 in the previous year[8] - Research and development expenses remained stable at ¥12,319,115.83, slightly up from ¥12,125,641.14, reflecting a focus on innovation[21] Business Expansion - The company plans to expand its business scope as approved in the recent shareholder meeting[15]

Financial Performance - The company's operating revenue for 2024 was CNY 1,075,648,850.99, a decrease of 0.90% compared to CNY 1,085,448,240.35 in 2023[16]. - The net profit attributable to shareholders for 2024 increased by 15.68% to CNY 95,471,709.47 from CNY 82,527,588.20 in 2023[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 21.50% to CNY 90,408,213.59 in 2024[16]. - The net cash flow from operating activities improved significantly to CNY 60,263,960.21, a 370.48% increase from -CNY 22,280,754.26 in 2023[16]. - The total assets at the end of 2024 reached CNY 1,858,146,205.53, reflecting a growth of 16.05% from CNY 1,601,148,993.85 in 2023[16]. - The net assets attributable to shareholders increased by 7.83% to CNY 1,066,927,020.22 at the end of 2024[16]. - The basic earnings per share for 2024 was CNY 0.29, up 16.00% from CNY 0.25 in 2023[16]. - The weighted average return on equity for 2024 was 9.30%, an increase from 8.62% in 2023[16]. Market Outlook and Industry Position - The company expects the high-temperature alloy market to maintain an annual growth rate of over 9.4% during the 14th Five-Year Plan period, reaching approximately CNY 34.2 billion by 2026[26]. - The company has seen a significant expansion in the application of high-temperature alloys in various sectors, including aerospace, energy, and high-end manufacturing[25]. - The high-temperature alloy industry is supported by national policies, which classify it as a key development area, providing a favorable environment for growth[27]. - The high-temperature alloy industry in China is characterized by strong market competitiveness, driven by policy incentives and a significant supply-demand mismatch, indicating ongoing growth potential[30]. - The company is positioned to benefit from the expanding applications of high-temperature alloys in traditional fields like aerospace and gas turbines, as well as emerging sectors[30]. Product Development and Innovation - The company is developing several new products, including cobalt-based nozzles and high-purity materials for the semiconductor industry, aimed at expanding market share and creating new profit growth points[62][63]. - The company has initiated a trial production of DN2800 specification butterfly valves, which are expected to enhance market competitiveness and increase revenue[63]. - The company focuses on technical innovation, holding 12 core technologies in high-temperature alloy production[45]. - The company has invested in advanced production equipment, including a 6300-ton quick forging machine and various high-precision testing instruments, enhancing its manufacturing capabilities[48]. Customer and Market Strategy - The company’s top five customers contributed 30.02% of total sales revenue for 2024, indicating a diversified customer base[47]. - The company’s sales in East China amounted to CNY 755,258,865.03, representing 70.21% of total revenue, with a decrease of 3.00% year-on-year[53]. - The company has established stable partnerships with over 30 large state-owned enterprises and listed companies in China[43]. - The company’s products have entered the global high-end manufacturing supply chain, collaborating with major companies like Emerson and Baker Hughes[43]. Governance and Compliance - The company has established a governance structure that ensures independence from its controlling shareholder, maintaining operational autonomy and risk management[106]. - The company has held two shareholder meetings during the reporting period, ensuring compliance with legal requirements and facilitating shareholder participation[106]. - The company has a clear and transparent information disclosure policy, ensuring all investors have equal access to relevant information[108]. - The company has not provided undisclosed information to controlling shareholders or actual controllers, maintaining compliance with governance norms[108]. Environmental and Social Responsibility - The company is focusing on sustainability initiatives, with a goal to reduce carbon emissions by 30% over the next five years[116]. - The company has established a comprehensive environmental and safety management system, achieving ISO14001 and ISO45001 certifications, and has not experienced any major safety or environmental incidents during the reporting period[159]. - The company has implemented various measures to reduce carbon emissions, including energy-saving technologies and renewable energy projects[156]. Shareholder Rights and Financial Management - The company emphasizes shareholder rights protection and has strengthened its internal control system to ensure effective governance[157]. - The company has committed to timely profit distribution for the first three quarters of 2024, aligning with regulatory guidelines[158]. - The company has established a salary system that links compensation to performance, ensuring fairness internally and competitiveness externally[142]. - The company has a structured remuneration decision-making process involving the Board's Compensation and Assessment Committee[128]. Risks and Challenges - The company faces risks related to raw material supply and price fluctuations, particularly for cobalt and nickel, which significantly impact gross margins[100]. - To address market competition risks, the company will focus on new product development and optimizing product structure for differentiated sales[100]. - The implementation progress of the "Special Equipment Core Components Manufacturing Project" has slowed down due to macroeconomic factors affecting the industry[87]. Investment and Fundraising - The company plans to invest an additional RMB 71.02 million (including interest income) in the "Core Components Manufacturing Project for Special Equipment" after terminating funding for the "Phase II R&D Testing Center" project[88]. - The total amount of oversubscribed funds from the company's IPO is RMB 59.95 million, with RMB 17 million allocated for permanent working capital supplementation[88]. - The company has committed to a maximum annual transfer of 25% of the total shares held directly or indirectly by its directors and senior management during their tenure[164].

国投证券股份有限公司 关于上海中洲特种合金材料股份有限公司 2024年年度持续督导跟踪报告 | 公司及股东承诺事项 | 是否 | 未履行承诺的原因及解决措施 | | --- | --- | --- | | | 履行承诺 | | 3 | 保荐机构名称：国投证券股份有限公司 | | 被保荐公司简称：中洲特材 | | --- | --- | --- | | 保荐代表人姓名： | 孙素淑 | 联系电话：021-55518389 | | 保荐代表人姓名： | 肖江波 | 联系电话：021-55518898 | 一、保荐工作概述 | 目 项 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次 | 0 | | 数 | | | 2．督导公司建立健全并有效执行规章制 | | | 度的情况 | | | （1）是否督导公司建立健全规章制度（包 | 是 | | 括但不限于防止关联方占用公司资源的 | | | 制度、募集资金管理制度、内控制度、内 | | | 部审计制度、关联交易制度） | | | （2）公司是 ...

上海中洲特种合金材料股份有限公司 2024 年度 内部控制审计报告 上海中洲特种合金材料股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审计了上 海中洲特种合金材料股份有限公司（以下简称中洲特材公司）2024 年 12 月 31 日的财务报 告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指引》 的规定，建立健全和有效实施内部控制，并评价其有效性是中洲特材公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表审计意见， 并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于情况的变化 可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低，根据内部控制审计结 果推测未来内部控制的有效性具有一定风险。 内部控制审计报告 众会字(2025)第 02285 号 （此页无正文） 众华会计师事务所（特殊普通合伙） 中国注册会计师 中国注册会计师 中国，上海 ...

上海中洲特种合金材料股份有限公司 提供真实、合法、完整的相关资料，按照中国证券监督管理委员会《上市公司监管指引 第 2 号——上市公司募集资金管理和使用的监管要求》、深圳证券交易所《深圳证券交易所 上市公司自律监管指引第 2 号——创业板上市公司规范运作》及相关格式指引等规定编制 专项报告，并保证其内容真实、准确、完整，不存在虚假记录、误导性陈述或重大遗漏是中 洲特材公司管理层的责任。 2024 年度 募集资金年度存放与使用情况的鉴证报告 专项鉴证报告 众会字(2025)第 02287 号 上海中洲特种合金材料股份有限公司全体股东： 我们审核了后附的上海中洲特种合金材料股份有限公司(以下简称"中洲特材公司")编制 的《上海中洲特种合金材料股份有限公司 2024 年度募集资金年度存放与使用情况的专项报 告》（以下简称"专项报告"）。 一、管理层对专项报告的责任 二、注册会计师的责任 我们的责任是在实施鉴证工作的基础上对专项报告发表鉴证意见。 三、工作概述 我们按照《中国注册会计师其他鉴证业务准则第 3101 号-历史财务信息审计或审阅以外 的鉴证业务》的规定执行了鉴证业务。该准则要求我们计划和实施鉴证工作，以对 ...

的专项说明 上海中洲特种合金材料股份有限公司 2024 年度 非经营性资金占用及其他关联资金往来情况 的专项说明 众会字（2025）第 02286 号 上海中洲特种合金材料股份有限公司全体股东: 我们接受委托，依据《中国注册会计师执业准则》审计了上海中洲特种合金材料股份有 限公司(以下简称"中洲特材公司")2024 年度的财务报表，包括 2024 年 12 月 31 日的合并及 公司资产负债表，2024 年度的合并及公司利润表、合并及公司现金流量表、合并所有者权 益变动表及公司所有者权益变动表以及财务报表附注，并于 2025 年 4 月 25 日出具了众会 字(2025)第 02284 号《审计报告》。 上海中洲特种合金材料股份有限公司 2024 年度 非经营性资金占用及其他关联资金往来情况 本专项说明仅作为中洲特材公司披露非经营性资金占用及其他关联资金往来情况之用， 不得用作任何其他目的。 附件：中洲特材公司 2024 年度非经营性资金占用及其他关联资金往来情况汇总表 2 1 （此页无正文） 众华会计师事务所（特殊普通合伙） 中国注册会计师 根据中国证券监督管理委员会《上市公司监管指引第 8 号——上市公司 ...

上海中洲特种合金材料股份有限公司 2024 年度 财务报表及审计报告 | | | | 内容 | 页码 | | --- | --- | | 审计报告 | 1-4 | | 合并资产负债表 | 5-6 | | 公司资产负债表 | 7-8 | | 合并利润表 | 9 | | 公司利润表 | 10 | | 合并现金流量表 | 11 | | 公司现金流量表 | 12 | | 合并所有者权益变动表 | 13-14 | | 公司所有者权益变动表 | 15-16 | | 财务报表附注 | 17-93 | 审计报告 众会字(2025)第 02284 号 上海中洲特种合金材料股份有限公司全体股东： 一、审计意见 我们审计了上海中洲特种合金材料股份有限公司（以下简称中洲特材公司）财务报表，包括 2024 年 12 月 31 日的合并及公司资产负债表，2024 年度的合并及公司利润表、合并及公司现金流量表、合并 及公司所有者权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制，公允反映了中洲特材公 司 2024 年 12 月 31 日的合并及公司财务状况以及 2024 年度的合并及公司经营 ...

国投证券股份有限公司 关于上海中洲特种合金材料股份有限公司 2024年年度募集资金存放与使用情况的核查意见 国投证券股份有限公司（以下简称"国投证券"或"保荐机构"）作为上海 中洲特种合金材料股份有限公司（以下简称"中洲特材"或"公司"）首次公开 发行股票并在创业板上市（以下简称"本次发行"）的保荐机构，根据《证券发 行上市保荐业务管理办法》《深圳证券交易所创业板股票上市规则》《深圳证券 交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》《上市公司 监管指引第 2 号——上市公司募集资金管理和使用的监管要求》等有关法律法规 的规定，对中洲特材 2024 年年度募集资金存放与使用情况进行了审慎核查，现 将核查情况及核查意见发表如下： 一、募集资金的基本情况 （一）实际募集资金金额、资金到账时间 经中国证券监督管理委员会《关于同意上海中洲特种合金材料股份有限公司 首次公开发行股票注册的批复》（证监许可[2021]555 号）同意注册，并经深圳证 券交易所《关于上海中洲特种合金材料股份有限公司人民币普通股股票在创业板 上市的通知》（深证上[2021]367 号）同意，公司首次公开发行人民币普通股（A ...

国投证券股份有限公司关于 上海中洲特种合金材料股份有限公司 2024 年持续督导定期现场检查报告 | 保荐机构名称：国投证券股份有限公司 被保荐公司简称：中洲特材 | | | | | --- | --- | --- | --- | | 保荐代表人姓名：孙素淑 联系电话：021-55518389 | | | | | 保荐代表人姓名：肖江波 联系电话：021-55518898 | | | | | 现场检查人员姓名：孙素淑、张涵 | | | | | 现场检查对应期间：2024 年 | | | | | 现场检查时间：2025 年 4 月 23 日-24 日 | | | | | 一、现场检查事项 | | 现场检查意见 | | | （一）公司治理 | 是 | 否 | 不适 | | | | | 用 | | 现场检查手段： | | | | | 1、查看公司的公开信息披露文件； | | | | | 2、查阅公司三会文件，包括会议通知、议案、会议记录、决议等； | | | | | 3、查看公司主要经营、管理场所 | | | | | 1.公司章程和公司治理制度是否完备、合规 | √ | | | | 2.公司章程和三会规则是否得到有 ...

国投证券股份有限公司 2024年度内部控制评价报告的核查意见 关于上海中洲特种合金材料股份有限公司 国投证券股份有限公司（以下简称"国投证券"或"保荐机构"）作为上海 中洲特种合金材料股份有限公司（以下简称"中洲特材"或"公司"）首次公开 发行股票并在创业板上市（以下简称"本次发行"）的保荐机构，根据《证券发 行上市保荐业务管理办法》《深圳证券交易所创业板股票上市规则》《深圳证券交 易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》及《企业内部 控制基本规范》等法规和规范性文件的要求，对中洲特材《2024 年度内部控制评 价报告》进行了核查，具体情况如下： 一、中洲特材的内部控制评价工作情况 （一）内部控制评价范围 公司按照风险导向原则确定纳入评价范围的主要单位、业务和事项以及高风 险领域。纳入评价范围的主要单位包括：上海中洲特种合金材料股份有限公司及 江苏新中洲特种合金材料有限公司；纳入评价范围单位资产总额占公司合并财务 报表资产总额的 100%，营业收入合计占公司合并财务报表营业收入总额的 100%。 纳入评价范围的主要业务和事项包括:组织架构、发展战略、人力资源、企业 文化、社会责任、资金管 ...