Novoray(SH:688300) Ju Chao Zi Xun·2026-02-13 08:57Core Insights - The company achieved a revenue of 1.116 billion yuan in 2025, representing a year-on-year growth of 16.15% [1] - The total profit reached 334 million yuan, with a year-on-year increase of 16.79% [1] - The net profit attributable to shareholders was 293 million yuan, up 16.42% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 264 million yuan, reflecting a growth of 16.44% [1] Financial Performance - Total assets at the end of the reporting period amounted to 2.260 billion yuan, an increase of 14.63% from the beginning of the period [1] - Shareholders' equity attributable to the parent company reached 1.706 billion yuan, growing by 13.13% [1] - The company’s capital structure has been optimized, enhancing its risk resistance capabilities [1] Product and Market Development - The company focuses on upgrading its product structure and has made significant progress in high-performance product development [1] - In 2025, the demand for high-performance electronic circuit substrates and thermal materials is expected to expand rapidly, driven by global advanced packaging technology [1] - The company is strengthening its market share in spherical silicon micro powder and spherical alumina while promoting high-performance product R&D [1] Shareholder Returns and Capital Structure - The company's share capital reached 241 million yuan, a 30% increase due to the capitalization of capital reserves [2] - The profit distribution plan for 2024 includes a cash dividend of 5.00 yuan per 10 shares (tax included) and a stock increase of 3 shares [2] - The cash dividend accounts for 36.95% of the net profit for 2024, providing reasonable returns to shareholders while enhancing stock liquidity [2] Industry Position - The company is a leading player in the electronic-grade powder materials sector in China, holding approximately 15% of the global market share [3] - Its products serve nearly 300 enterprises worldwide across various fields, including electronic materials and special ceramics [3] - The company is well-positioned to benefit from the growing demand in high-end applications such as AI infrastructure and automotive electronics [3]