江西志特新材料股份有限公司（以下简称"公司"）第四届监事会第四次会 议通知已于 2025 年 4 月 24 日通过书面方式送达。会议于 2025 年 4 月 27 日以 通讯的方式召开。本次会议由公司监事会主席张嘉文先生主持，应出席会议监事 3 名，实际出席会议的监事 3 名。本次会议的召集、召开及表决程序符合《中华 人民共和国公司法》及《公司章程》的有关规定，会议合法有效。 二、监事会会议审议情况 1、审议通过了《2025 年第一季度报告》 经审核，监事会认为：董事会编制和审核公司《2025 年第一季度报告》的程 序符合法律、法规和中国证监会、深圳证券交易所的有关规定，报告内容真实、 准确、完整地反映了公司的实际情况，不存在任何虚假记载、误导性陈述或者重 大遗漏。 具体内容详见同日披露于巨潮资讯网（www.cninfo.com.cn）上的相关公告。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 | 证券代码：300986 | 证券简称：志特新材 公告编号：2025-058 | | --- | --- | | 转债代码：123186 | 转债简称：志特转债 | 江西志特新材料股份有限公司 第四届监事会 ...

一、董事会会议召开情况 证券代码：300986 证券简称：志特新材 公告编号：2025-057 转债代码：123186 转债简称：志特转债 江西志特新材料股份有限公司 第四届董事会第十一次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 本议案已经公司董事会审计委员会审议通过。 三、备查文件 1、第四届董事会第十一次会议决议； 2、董事会审计委员会决议。 特此公告。 江西志特新材料股份有限公司（以下简称"公司"）第四届董事会第十一次 会议通知已于 2025 年 4 月 24 日通过书面方式送达，会议于 2025 年 4 月 27 日以 现场结合通讯的方式召开。本次会议应出席董事 9 名，实际出席董事 9 名。会议 由董事长高渭泉先生召集并主持。本次会议的召开符合有关法律、行政法规、部 门规章、规范性文件和《公司章程》的有关规定，会议合法、有效。 二、董事会会议审议情况 1、审议通过了《2025 年第一季度报告》 公司《2025 年第一季度报告》的编制程序符合法律、法规和中国证监会、 深圳证券交易所的有关规定，报告内容真实、准确、完整地反映了公司的实 ...

江西志特新材料股份有限公司 2025 年第一季度报告 | 证券代码：300986 | 证券简称：志特新材 | 公告编号：2025-056 | | --- | --- | --- | | 转债代码：123186 | 转债简称：志特转债 | | 江西志特新材料股份有限公司 2025 年第一季度报告 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第一季度报告是否经过审计 □是 否 1 江西志特新材料股份有限公司 2025 年第一季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 上年同期 | 本报告期比上年同 期增减（%） | | --- | --- | --- | --- | | 营业收入（元） | 55 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Views - The company is expected to achieve a revenue of 2.48 to 2.6 billion yuan in 2024, representing a year-on-year growth of 10.81% to 16.17%, with a median estimate of 2.54 billion yuan, reflecting a 13.5% increase. The net profit attributable to shareholders is forecasted to be between 65 to 95 million yuan, with a median of 80 million yuan, indicating a turnaround from losses [2][4]. Summary by Sections Revenue and Profitability - The company achieved a total revenue of 2.526 billion yuan in 2024, marking a year-on-year increase of 12.88%. The net profit attributable to shareholders was 74 million yuan, also indicating a return to profitability. The net profit after deducting non-recurring items was 43 million yuan, showing a positive shift [4][10]. Business Performance - The company’s revenue growth was driven by a significant increase in overseas income, which grew by 41.85% to reach 520 million yuan, accounting for 16.38% of total revenue. The aluminum formwork products benefited from technological advantages and capacity upgrades, while the prefabricated PC components business capitalized on the green building trend [10]. Margin and Cost Management - The overall gross margin for the year was 25.38%, an increase of 3.89 percentage points year-on-year. The company managed to reduce its expense ratio to 18.35%, down by 1.81 percentage points, which contributed to improved profitability [10]. Future Outlook - The company is positioned for growth with a focus on overseas markets and new technological collaborations, including partnerships in AI and quantum technology for new material development. The introduction of an equity incentive plan aims to drive performance targets for net profit and overseas revenue in the coming years [10].

Investment Rating - The report maintains an "Outperform" rating for the company [1] Core Views - The company has turned losses into profits, with strong momentum in overseas business development [1] - The 2024 net profit attributable to the parent company is expected to increase by 262.69%, in line with expectations, while the operating revenue is projected to grow by 12.88% [6] - The company is exploring new growth avenues in emerging sectors, indicating a positive outlook for future development [6] Financial Data and Profit Forecast - Total operating revenue is projected to reach 2,238 million in 2023, increasing to 3,156 million by 2025, reflecting a growth rate of 24.9% [5][8] - The net profit attributable to the parent company is expected to recover from a loss of 45 million in 2023 to a profit of 185 million in 2025, with a year-on-year growth of 150.7% [5][8] - The gross profit margin is expected to improve from 21.5% in 2023 to 25.5% in 2025 [5][8] - The company’s return on equity (ROE) is projected to rise from -3.0% in 2023 to 12.1% in 2025 [5][8] Business Segments Performance - The aluminum formwork segment is expected to achieve operating revenue of 1,480 million in 2024, with a gross margin of 30.1% [6] - The overseas revenue is projected to grow by 41.9% in 2024, indicating strong international market performance [6] - The company is actively investing in new materials and quantum technology applications, which may contribute to future revenue streams [6]

Summary of Zhite New Materials Conference Call Company Overview - **Company**: Zhite New Materials - **Year**: 2024 - **Revenue**: 25.43 billion CNY, up 26.2% YoY - **Net Profit**: 0.97 billion CNY, up 262% YoY - **Net Profit (Excluding Non-recurring Items)**: 0.74 billion CNY, up 152% YoY - **Operating Cash Flow**: Turned positive Key Financial Performance - **Aluminum Formwork Business**: Revenue accounted for 58% of total revenue, with a 7% YoY increase [3] - **PC Business**: Revenue accounted for 17% of total revenue, with a growth of over 10% YoY [3] - **Overseas Business**: Revenue reached 5.19 billion CNY, up 41% YoY, accounting for approximately 20% of total revenue [3] - **Profit Target for 2025**: 2 billion CNY, with overseas revenue target of 10 billion CNY, requiring a 130% YoY increase [4] Business Segments and Strategies - **Aluminum Formwork Margin Improvement**: Driven by increased overseas business share and accounting policy adjustments, with expectations for continued good margins due to market expansion and production efficiency [5] - **Scaffolding Business**: Expected to turn profitable in 2025 after controlling scale and improving margins due to regulatory impacts [6] - **PC Components**: Low margins but expected growth in Hong Kong, Macau, and Taiwan markets due to rising demand for prefabricated components [6] Market Dynamics - **Real Estate Sector Downturn**: Led to pressure on aluminum formwork demand, but also resulted in market consolidation, benefiting Zhite New Materials [7] - **Industry Concentration**: Significant reduction in the number of companies in the aluminum formwork industry, from over 1,200 in 2019 to less than 200 by the end of 2024, with expectations for further concentration [8] Cash Flow and Risk Management - **Cash Flow Improvement**: Achieved through a "payment before delivery" policy for overseas business and adjustments in domestic marketing strategies [9] - **Accounts Receivable Risk**: Remains stable with measures taken to address long-standing issues [10][11] Future Outlook - **Overseas Market Focus**: Key regions include Southeast Asia (40-45%), Hong Kong and Taiwan (30-35%), and the Middle East (20-25%), with plans for local partnerships and production bases [16] - **New Business Ventures**: Collaboration with Micro-Nano Technology to enter the AI quantum materials sector, with expected business developments in Q2 [15] - **Digital Management and AI**: Progress in digital management recognized with certification, and ongoing exploration in AI for material optimization [14] Challenges and Considerations - **Aluminum Price Fluctuations**: Minimal impact on costs due to the nature of the business model, which allows for the reuse of aluminum formwork [25] - **Domestic Market Conditions**: Cautious optimism for recovery in the domestic construction industry, with a focus on maintaining profitability [22][31] Investment Opportunities - **Growth Potential**: Strong outlook for overseas business expansion and advancements in new materials and quantum computing, presenting favorable investment opportunities [35]

Group 1: Financial Performance - In 2024, the company achieved a revenue of 2.526 billion CNY, a year-on-year increase of 12.88% [2] - The net profit attributable to shareholders reached 73.6951 million CNY, up 262.69% compared to the previous year [2] - The net cash flow from operating activities was 30.6078 million CNY, reflecting a growth of 106.44% year-on-year [2] Group 2: Market Expansion - Domestic business revenue rose to 2.006 billion CNY, a growth of 7.21% [2] - International business revenue reached 520 million CNY, marking a significant increase of 41.85% [2] - The company has expanded its market presence in regions such as Southeast Asia, the Middle East, and Africa, contributing to its international revenue growth [5] Group 3: Industry Landscape - The domestic aluminum formwork industry has seen a reduction in market participants from over 1,200 in 2019 to approximately 200 by 2024 [3] - The industry is undergoing a consolidation phase, with a focus on larger enterprises that possess technological advantages and financial strength [3] Group 4: Profitability and Cost Management - The gross profit margin for the aluminum formwork business improved to 30.05%, an increase of 5.03% year-on-year [4] - This improvement is attributed to higher margins from overseas operations and enhanced cost control measures [4] Group 5: Cash Flow Improvement - The significant improvement in cash flow is driven by the structural optimization of global business operations and a focus on high-quality private enterprise clients [6][7] - The company has implemented a prepayment management system to enhance cash recovery capabilities [7] Group 6: Future Growth Strategy - The company aims for a net profit target of no less than 200 million CNY for 2025, focusing on domestic and international business synergy [7] - Strategic initiatives include expanding into high-value sectors and optimizing customer structures to ensure sustainable growth [7]

Core Viewpoint - Zhite New Materials (300986) reported a successful turnaround in 2024, achieving a total revenue of 2.526 billion yuan, a year-on-year increase of 12.88%, and a net profit of 73.6951 million yuan, marking a significant growth of 262.69% compared to the previous year [1] Group 1: Financial Performance - The company achieved a net profit of 73.6951 million yuan, successfully turning a profit compared to the previous year [1] - The non-recurring net profit reached 42.7492 million yuan, reflecting a year-on-year growth of 152.20% [1] Group 2: Overseas Market Expansion - In 2024, the company made significant progress in overseas markets, with foreign revenue reaching 520 million yuan, a year-on-year increase of 41.85% [4] - The company established subsidiaries in Saudi Arabia and Kazakhstan and signed strategic cooperation agreements with several international enterprises [4] - The company successfully secured multiple landmark projects in Southeast Asia, enhancing its international brand influence [4] Group 3: Core Business Growth - The formwork business continued to grow steadily, supported by the technical advantages of aluminum formwork products and capacity upgrades [5] - The company expanded its prefabricated building business, particularly in prefabricated PC components and steel structure products, with significant year-on-year increases in production and sales [5] - Prefabricated buildings are becoming a new growth point for the company, contributing to improved production efficiency and reduced construction costs [5] Group 4: R&D and Incentive Mechanisms - The company initiated a "share repurchase + equity incentive" mechanism in 2024, repurchasing 4.2418 million shares, which is 1.72% of the total share capital [7] - The R&D investment for 2024 was 91.175 million yuan, a slight increase of 0.11% year-on-year, focusing on new intelligent construction technologies [7] - Despite the increase in R&D investment, the proportion of R&D spending relative to total revenue decreased by 0.46 percentage points to 3.61% [7]

| 证券代码：300986 | 证券简称：志特新材 | 公告编号：2025-041 | | --- | --- | --- | | 转债代码：123186 | 转债简称：志特转债 | | 江西志特新材料股份有限公司 2024 年度募集资金存放与使用情况的专项报告 根据《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《深圳证券交易所创业板上市公司自律监管指南第 2 号——公告格式》等 有关规定，现将江西志特新材料股份有限公司（以下简称"公司"）2024 年度 募集资金存放与使用情况专项报告如下： 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 经中国证券监督管理委员会（以下简称"中国证监会"）《关于同意江西志 特新材料股份有限公司向不特定对象发行可转换公司债券注册的批复》（证监许 可〔2023〕543 号）同意注册，公司向不特定对象发行可转换公司债券募集资金 总额共计人民币 61,403.30 万元，扣除本次发行费用（不含增值税）合计人民币 710.38 万元，实际募集资金净额为人民币 60,692 ...

| 证券代码：300986 | 证券简称：志特新材 | 公告编号：2025-047 | | --- | --- | --- | | 转债代码：123186 | 转债简称：志特转债 | | 江西志特新材料股份有限公司 关于变更公司注册资本及修订《公司章程》的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 江西志特新材料股份有限公司（以下简称"公司"）于 2025 年 4 月 19 日召 开第四届董事会第十次会议，审议通过了《关于变更公司注册资本及修订〈公司 章程〉的议案》，本议案尚需提交公司 2024 年年度股东大会审议批准。现将具 体情况公告如下： 三、备查文件 1、第四届董事会第十次会议决议； 2、深交所要求的其他文件。 特此公告。 一、公司注册资本变更情况 因公司向不特定对象发行的可转换公司债券"志特转债"于 2023 年 10 月 9 日开始转股，自 2024 年 10 月 1 日至 2025 年 3 月 31 日，共有 1,967,460 张"志 特转债"转换为公司股票，累计转股数为 15,739,378 股，公司总股本由 246,470,399 ...