Company Performance - Xianglou New Materials' stock price reached a historical high, increasing by 20.01% to 73.78 yuan, with a trading volume of 5.1286 million shares and a transaction amount of 353 million yuan, resulting in a turnover rate of 11.88% [1] - The latest total market capitalization of the company is 5.907 billion yuan, with a circulating market capitalization of 3.186 billion yuan [1] - The company reported a revenue of 1.075 billion yuan for the first three quarters, representing a year-on-year growth of 13.46%, and a net profit of 139 million yuan, with a year-on-year increase of 1.04% [1] - Basic earnings per share are 1.7900 yuan, and the weighted average return on equity is 8.91% [1] Industry Overview - The steel industry, to which Xianglou New Materials belongs, has an overall increase of 1.09%, with 31 stocks rising, including Xianglou New Materials, which had the highest increase [1] - Other notable gainers in the industry include Vanadium Titanium Co. and Central South Co., with increases of 10.16% and 3.74% respectively [1] - Conversely, 11 stocks in the industry experienced declines, with Maanshan Steel, Jinzhu Pipeline, and Wujin Stainless Steel showing the largest decreases of 1.07%, 0.92%, and 0.77% respectively [1] Financing Data - As of December 6, the latest margin trading balance for Xianglou New Materials is 303 million yuan, with a financing balance of 303 million yuan, reflecting an increase of 42.2574 million yuan over the past 10 days, which is a 16.20% increase [1]

证券代码：301160 证券简称：翔楼新材 公告编号：2024-055 苏州翔楼新材料股份有限公司 第三届董事会第二十一次会议决议公告 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。 和生、张玉平、张骁、曹菊芬、钱亚萍回避表决）。 一、董事会会议召开情况 苏州翔楼新材料股份有限公司（以下简称"公司"）第三届董事会第二十一次 会议（以下简称"本次会议"）已于 2024 年 11 月 8 日以书面及邮件方式通知了全 体董事，会议于 2024 年 11 月 11 日在公司会议室以现场结合通讯方式召开。本 次会议由董事长钱和生先生召集并主持，会议应到董事 9 人，实到董事 9 人，其 中朱建华先生、刘庆雷先生、杨春福先生以通讯方式参加。公司监事及部分高级 管理人员列席了本次会议。本次会议的召集、召开和表决程序符合《公司法》《公 司章程》及《苏州翔楼新材料股份有限公司董事会议事规则》的有关规定，会议 决议合法有效。 二、董事会会议审议情况 经与会董事审议，形成以下决议： 1、审议通过了《关于调整 2022 年限制性股票激励计划授予价格的议案》 鉴于公司 2023 年年度 ...

《深圳证券交易所创业板股票上市规则》（以下简称"《上市规则》"）、《深圳 证券交易所创业板上市公司自律监管指南第 1 号——业务办理》等有关法律、法 规及规范性文件和《苏州翔楼新材料股份有限公司章程》（以下简称"《公司章 程》"）、公司《2022 年限制性股票激励计划（草案修订稿）》（以下简称"《激 励计划（草案修订稿）》"）的有关规定，对公司 2022 年限制性股票激励计划（以 下简称"本次激励计划"）第一个归属期归属名单进行审核，发表核查意见如下： 苏州翔楼新材料股份有限公司 监事会关于公司 2022 年限制性股票激励计划 第二个归属期归属名单的核查意见 苏州翔楼新材料股份有限公司（以下简称"公司"）监事会依据《中华人民共 和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简 称"《证券法》"）、《上市公司股权激励管理办法》（以下简称"《管理办法》"）、 公司本次拟归属的 30 名激励对象符合《公司法》《证券法》等法律、法规 和规范性文件以及《公司章程》《激励计划（草案修订稿）》规定的任职资格， 符合《管理办法》《上市规则》等法律、法规和规范性文件规定的激励对象条件， 符合本次激励计划 ...

证券代码：301160 证券简称：翔楼新材 公告编号：2024-056 苏州翔楼新材料股份有限公司 第三届监事会第十九次会议决议公告 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 苏州翔楼新材料股份有限公司（以下简称"公司"）第三届监事会第十九次会 议（以下简称"本次会议"）已于 2024 年 11 月 8 日以书面及邮件方式通知了全体 监事，会议于 2024 年 11 月 11 日在公司会议室以现场方式召开。本次会议由监 事会主席沈衡先生召集并主持，会议应到监事 3 人，实到监事 3 人，本次会议的 召集、召开和表决程序符合《公司法》《公司章程》等有关规定，会议决议合法 有效。 二、监事会会议审议情况 经与会监事审议，形成以下决议： 1、审议通过了《关于调整 2022 年限制性股票激励计划授予价格的议案》 鉴于公司 2023 年年度利润分配方案已实施完毕，根据《上市公司股权激励 管理办法》、公司《2022 年限制性股票激励计划（草案修订稿）》的相关规定以 及公司 2022 年第二次临时股东大会的授权，对本次激励计划的授予价格进行相 ...

北京市金杜（南京）律师事务所 关于苏州翔楼新材料股份有限公司 2022 年限制性股票激励计划 授予价格调整、第二个归属期归属条件成就的 法律意见书 致：苏州翔楼新材料股份有限公司 北京市金杜（南京）律师事务所（以下简称金杜或本所）受苏州翔楼新材料股 份有限公司（以下简称公司或翔楼新材）的委托，作为公司 2022 年限制性股票激 励计划（以下简称本计划或本激励计划）的专项法律顾问，根据《中华人民共和国 公司法》（以下简称《公司法》）、《中华人民共和国证券法》（以下简称《证券 法》）、中国证券监督管理委员会（以下简称中国证监会）《上市公司股权激励管 理办法》（以下简称《管理办法》）、深圳证券交易所（以下简称深交所）《深圳 证券交易所创业板股票上市规则》（以下简称《上市规则》）、《深圳证券交易所 创业板上市公司自律监管指南第 1 号——业务办理》等法律、行政法规、部门规章 及其他规范性文件（以下简称法律法规）和《苏州翔楼新材料股份有限公司章程》 （以下简称《公司章程》）的有关规定，就公司实施本激励计划授予价格调整（以 下简称本次调整）、第二个归属期归属条件成就（以下简称本次归属）所涉及的相 关事项，出具《北京市金杜 ...

证券代码：301160 证券简称：翔楼新材 公告编号：2024-057 苏州翔楼新材料股份有限公司 关于调整 2022 年限制性股票激励计划授予价格的公告 3、2022 年 9 月 8 日至 2022 年 9 月 18 日，公司内部公示了本激励计划激 励对象（修订稿）的姓名和职务。公示期内，公司监事会未收到任何对本激励 计划激励对象名单（修订稿）提出的异议。2022 年 9 月 19 日，公司披露了 《监事会关于公司 2022 年限制性股票激励计划激励对象名单（修订稿）的审核 意见及公示情况说明》。 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。 苏州翔楼新材料股份有限公司（以下简称"公司"）于 2024 年 11 月 11 日召 开了第三届董事会第二十一次会议和第三届监事会第十九次会议，审议通过了 《关于调整 2022 年限制性股票激励计划授予价格的议案》，因实施 2023 年年 度权益分派方案，依照公司限制性股票激励计划的相关规定，同意公司对 2022 年限制性股票激励计划（以下简称"本次激励计划"）授予部分限制性股票的 授 予价格进行调整，将授予价格由 ...

证券代码：301160 证券简称：翔楼新材 公告编号：2024-058 苏州翔楼新材料股份有限公司 关于 2022 年限制性股票激励计划第二个归属期归属条件成就的 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。 重要内容提示： 1、本次符合归属条件的激励对象人数：30人，本次第二类限制性股票拟 归属的第二类限制性股票数量：880,000股，占目前公司股本总额的1.11%。 2、第二类限制性股票授予价格：26.85元/股（调整后），归属股票来 源：公司向激励对象定向发行公司A股普通股股票。 3、本次拟归属的第二类限制性股票在相关手续办理完成后，公司将发布 相关股票上市流通的提示性公告，敬请投资者关注。 苏州翔楼新材料股份有限公司（以下简称"公司"）于 2024 年 11 月 11 日召 开第三届董事会第二十一次会议和第三届监事会第十九次会议，审议通过了《关 于 2022 年限制性股票激励计划第二个归属期归属条件成就的议案》，根据《公 司 2022 年限制性股票激励计划（草案修订稿）》（以下简称"《激励计划》"） 及公司 2022 年第二次临时股东大会的授权 ...

Investment Rating - The report maintains a "Recommended" rating for the company [5]. Core Insights - The company's revenue for Q1-Q3 2024 reached 1.075 billion yuan, a year-on-year increase of 13.5%, while the net profit attributable to shareholders was 139 million yuan, up 1% year-on-year [2]. - The gross margin remained stable, with a slight decline in the first three quarters of 2024, recorded at 25.14%, and a marginal increase in Q3 to 25.16% [3]. - The company is focusing on expanding production capacity, with a new plant expected to be operational by the end of 2024, which will add 40,000 tons of capacity in 2025 [4]. Financial Performance Summary - For 2024, the company is projected to achieve a revenue of 1.504 billion yuan, with a growth rate of 11.2% [6]. - The net profit attributable to shareholders is expected to be 200 million yuan in 2024, reflecting a slight decrease of 0.4% compared to 2023 [6]. - The earnings per share (EPS) for 2024 is estimated at 2.52 yuan, with a price-to-earnings (PE) ratio of 22 [6]. Future Outlook - The company is actively engaged in research and development, enhancing product competitiveness and establishing long-term partnerships with major automotive suppliers [4]. - The anticipated increase in production capacity and optimized product structure is expected to contribute to stable operational performance in the coming years [4]. - The projected net profits for 2024, 2025, and 2026 are 200 million yuan, 231 million yuan, and 297 million yuan, respectively, with corresponding PE ratios of 22, 19, and 15 [4][6].

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company achieved a revenue of 1.075 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 13.46%. The net profit attributable to the parent company was 139 million yuan, up 1.04% year-on-year, aligning with expectations. In Q3 2024, revenue was 367 million yuan, down 1.45% year-on-year but up 2.7% quarter-on-quarter, with a net profit of 45 million yuan, down 20.7% year-on-year but up 4.7% quarter-on-quarter [2][3] Summary by Sections Sales and Production - The sales peak continues into Q3 2024, with expected product sales nearing maximum production capacity, remaining stable year-on-year. Orders are still robust as of October, with an annual sales target of 180,000 tons anticipated to be met, especially with the upcoming production capacity from the Anhui plant [2][3] Pricing and Profitability - The estimated average product price in Q3 2024 is around 7,900 yuan per ton, remaining stable year-on-year. The gross profit margin for Q3 2024 is projected at 25.2%, reflecting a year-on-year increase of 0.3 percentage points, indicating strong stability in product profitability [2][3] Cost Control and Profitability Recovery - Q3 2024 sales expense ratio is 2.4%, up 0.5 percentage points year-on-year but down 0.3 percentage points quarter-on-quarter, primarily due to increased stock incentive expenses. Management and R&D expense ratios are 4.2% and 4.0%, respectively, showing a year-on-year increase but reasonable control on a quarter-on-quarter basis [3] - The net profit margin for the first three quarters of 2024 is 12.9%, down 1.6 percentage points year-on-year, with Q3 net profit margin at 12.3%, up 0.2 percentage points quarter-on-quarter, indicating a trend towards stability in profitability [3] Earnings Forecast and Valuation - The company is expected to maintain its position as a leading player in the steel sector, with EPS forecasts for 2024-2026 at 2.6, 3.4, and 4.4 yuan per share, corresponding to P/E ratios of 23, 18, and 14 times [3]

Financial Performance - Revenue for Q3 2024 was CNY 366,950,085.21, a decrease of 1.45% compared to the same period last year, while year-to-date revenue increased by 13.46% to CNY 1,074,670,960.18[3] - Net profit attributable to shareholders for Q3 2024 was CNY 45,087,604.32, down 20.70% year-on-year, with a year-to-date net profit of CNY 138,814,234.01, reflecting a slight increase of 1.04%[3] - Basic earnings per share for Q3 2024 decreased by 22.37% to CNY 0.59, while diluted earnings per share fell by 23.68% to CNY 0.58[3] - Total operating revenue for the third quarter reached ¥1,074,670,960.18, an increase of 13.5% compared to ¥947,201,744.24 in the same period last year[19] - Net profit for the quarter was ¥138,814,234.01, slightly higher than ¥137,381,477.57 in the previous year, reflecting a growth of 1.0%[20] - Total comprehensive income for the third quarter was ¥138,814,234.01, compared to ¥137,381,477.57 in the previous year, reflecting a slight increase[21] Assets and Liabilities - Total assets at the end of Q3 2024 were CNY 1,847,237,785.03, a decrease of 2.69% from the end of the previous year[3] - The total assets of the company as of September 30, 2024, were ¥1,847,237,785.03, down from ¥1,898,307,138.67 at the beginning of the period, a decrease of 2.7%[18] - Total liabilities decreased to ¥306,925,731.35 from ¥331,423,921.23, a reduction of 7.4%[18] - The company's equity attributable to shareholders was ¥1,540,312,053.68, down from ¥1,566,883,217.44, a decrease of 1.7%[18] Cash Flow - Cash flow from operating activities for the year-to-date period was CNY 178,617,130.91, an increase of 7.64% compared to the same period last year[9] - Cash inflow from operating activities totaled ¥689,763,894.48, up from ¥624,499,339.39 in the previous period, indicating a growth of approximately 10.5%[22] - Net cash flow from operating activities was ¥178,617,130.91, compared to ¥165,933,786.09 in the same period last year, showing an increase of about 7.5%[23] - Cash outflow from investing activities was ¥1,182,067,173.01, down from ¥1,358,101,509.66, indicating a reduction of approximately 12.9%[23] - Net cash flow from investing activities was -¥119,370,430.10, an improvement from -¥166,461,287.00 year-over-year[23] - Cash inflow from financing activities was ¥89,250,000.00, compared to ¥55,000,000.00 in the previous year, representing an increase of approximately 62.5%[23] Research and Development - R&D expenses increased by 39.28% year-on-year to CNY 46,035,273.10, indicating a strong focus on technology development[7] - Research and development expenses increased to ¥46,035,273.10, up 39.4% from ¥33,052,021.12 year-on-year[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 7,212, with the top 10 shareholders holding a combined 46.76% of shares[10] - Qian Hesheng, the largest shareholder, holds 26.17% of shares, amounting to 20,720,000 shares[10] - The company has not identified any related party relationships among the top shareholders, except for some familial connections[11] - The company’s major shareholder, Qian Hesheng, controls Suzhou Hesheng Holdings Co., Ltd., which is participating in the private placement[13] - The company has not reported any changes in the top 10 shareholders due to securities lending or borrowing activities[11] Capital and Investments - The company plans to issue 3,636,647 shares at a price of 29.47 RMB per share, raising a total of approximately 107,171,987.09 RMB[13] - The company has completed a cash dividend distribution of 10.10 RMB per 10 shares, totaling 78,001,401.10 RMB[14] - The company will use 400 million RMB of its own funds for additional investment in the "Annual Production of 40,000 Tons of Precision High Carbon Alloy Steel Strip Project"[15] - The company has 4,436,147 restricted shares at the end of the reporting period, with 3,636,647 shares being newly added due to the initial public offering[12] - The second phase of the restricted stock incentive plan will see 880,000 shares listed for circulation on January 19, 2024, representing 1.12% of the total share capital[14] Other Information - The company reported a significant increase in other current assets by 402.01% to CNY 23,014,979.59, primarily due to an increase in VAT receivables[6] - The company’s short-term borrowings rose by 30.65% to CNY 98,070,194.44, reflecting increased bank loans[6] - The net cash flow from financing activities decreased by 86.16% to CNY -183,397,935.52, mainly due to increased dividend distribution and share repurchases[9] - The company's cash and cash equivalents decreased to ¥173,822,736.48 from ¥297,892,377.41 at the beginning of the period, a decline of 41.6%[17] - Accounts receivable decreased to ¥388,035,777.42 from ¥429,832,352.33, a reduction of 9.7%[17] - Inventory levels decreased to ¥274,716,411.30 from ¥310,206,194.54, a decline of 11.4%[17] - The company has not undergone an audit for the third quarter report[24]