广东奇德新材料股份有限公司 2、公司泰国工厂的建设及扩产情况介绍？ 回复：近年来中国品牌及中国产能出海，加快了东南亚地区供应链的需求增 长，为满足东南亚地区快速增长的客户需求，公司计划对泰国生产基地项目进行 扩产，通过高端设备购置及配套工艺在泰国新建智能化产线，构建覆盖改性塑料 到塑胶制品交付的一站式生产能力。通过扩产将显著提升公司在泰国及东南亚地 区本土化交付效率，满足匹配新能源汽车、智能家电等领域客户的区域化供应链 需求，公司将依托泰国基地的区位优势与成本协同效应，进一步深化国际化产能 布局，为开拓国际市场、应对国际贸易环境变化创造有利条件，推动企业综合竞 争力提升及构建新增长点。 3、公司未来的战略规划是怎样？ 投资者活动记录表 编号：2025-054 | | ☑特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 □业绩说明会 | | 活动类别 | □新闻发布会 □路演活动 | | | ☑现场参观 □电话会议 | | | □其他： | | 参与单位名 | 中信证券华南股份有限公司赵宇航、林伟科、彭儒佩； | | 称及人员姓 | 景顺长城基金管理有限公司李希言； | ...

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company has shown continuous high growth in performance over three consecutive quarters, with significant increases in both revenue and net profit for Q1 2025 [2][3] - The demand for military and civil aviation products is expected to surge, driven by new orders and the transition from the 14th Five-Year Plan to the 15th Five-Year Plan [3][4] - The company is positioned to benefit from the rapid growth in the military aircraft supply chain and the increasing demand for high-value new products [4][5] Summary by Sections Financial Performance - In 2024, the company reported revenue of 812 million yuan, a year-on-year increase of 45.39%, and a net profit of 356 million yuan, up 23.16% [2] - For Q1 2025, revenue reached 239 million yuan, reflecting a 62.89% year-on-year growth, while net profit surged to 113 million yuan, a 91.29% increase [2] - The company's cash flow from operating activities for Q1 2025 was 176 million yuan, the best quarterly performance since Q2 2023, indicating accelerated collections [4] Market Demand and Product Development - The military aircraft supply chain is experiencing a demand explosion, with new orders expected to accelerate, particularly for next-generation aircraft [4][5] - The company is actively engaging with customers to negotiate new contract terms for 2025, anticipating a significant increase in demand [7] - The partnership with China National Petroleum Corporation (Sinopec) is expected to enhance market expansion in the civil aviation sector [10] Future Projections - The company is projected to achieve revenues of 1.072 billion yuan in 2025, 1.372 billion yuan in 2026, and 1.659 billion yuan in 2027, with corresponding net profits of 501 million yuan, 657 million yuan, and 794 million yuan [11][14] - The expected earnings per share (EPS) for 2025, 2026, and 2027 are 1.14 yuan, 1.49 yuan, and 1.81 yuan respectively [11][14] - The company maintains a strong outlook with a projected price-to-earnings (PE) ratio of 31 for 2025, decreasing to 19 by 2027 [11][14]