Core Viewpoint - The establishment of Liaoning Hongmengyan Innovative Composite Materials Co., Ltd. indicates a growing focus on high-performance fibers and composite materials in the manufacturing sector in China [1][2]. Company Summary - Liaoning Hongmengyan Innovative Composite Materials Co., Ltd. has been established with a registered capital of 5 million RMB [1]. - The legal representative of the company is Wang Junkun [1]. - The company is wholly owned by Jinding Communication Equipment (Xingcheng) Co., Ltd. [2]. - The company operates in the manufacturing industry, specifically in the chemical fiber manufacturing sector [2]. Business Scope - The business scope includes the manufacturing and sales of high-performance fibers and composite materials, synthetic fibers, photovoltaic equipment and components, mechanical parts, security equipment, and new building materials [2]. - The company is also involved in technology services, research and development of new materials, and import-export activities [2].

万凯新材表示，灵心巧手是一家以"灵巧手+云端智脑"为核心的人形机器人具身智能平台。公司本次投 资主要是基于看好人形机器人赛道所作的前瞻性布局，后续公司计划依托区域优势和上市公司影响力， 充分发挥资源整合作用，深入参与并助力灵心巧手在杭州或周边落地新产能，为其赋能当地有协同性的 优质社会资源，助力其在机器人产业聚集地深耕发展。同时，拟与灵心巧手共同研发和探索公司聚酯新 材料产品在人形机器人领域应用的可能性，与公司主业形成一定的产业协同。 一季报显示，万凯新材长期股权投资约7533万元，同比增长近200%，主要系增加对灵心巧手的投资。 今年4月21日，投资者在深交所互动平台上提问公司是否参投灵心巧手，公司回复近期作为领投人之一 参与了灵心巧手(北京)科技有限公司的PRE-A轮融资，投后股权占比8.2%，并拥有一名董事席位。目前 公司占比较小，后续产业合作亦仅作为计划，具有不确定性，对公司2025年经营业绩不会构成重大影 响。 公告显示，万凯新材料股份有限公司是国内领先的聚酯材料研发、生产、销售企业，致力于为社会提供 健康、安全、环保、优质的聚酯材料，已建成年产300万吨瓶级切片的产能。公司产能规模居全球前 列，是 ...

三、分红送配方案情况 10派0.5元(含税) 一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.2711 | 0.4506 | -39.84 | 0.6000 | | 每股净资产（元） | 7.3 | 7.28 | 0.27 | 6.59 | | 每股公积金(元) | 4.79 | 4.79 | 0 | 4.42 | | 每股未分配利润(元) | 1.47 | 1.44 | 2.08 | 1.17 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 35.41 | 30.13 | 17.52 | 28.8 | | 净利润(亿元) | 3.64 | 5.76 | -36.81 | 7.19 | | 净资产收益率(%) | 3.71 | 6.63 | -44.04 | 11.82 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 15786.48 ...

Financial Performance - The company's basic earnings per share for Q1 2025 is 0.0167 yuan, a decrease of 61.78% compared to Q1 2024, which was 0.0437 yuan [1] - The net profit for Q1 2025 is 0.28 billion yuan, down 54.84% from 0.62 billion yuan in Q1 2024 [1] - The operating revenue for Q1 2025 is 18.81 billion yuan, a decline of 4.37% from 19.67 billion yuan in Q1 2024 [1] - The return on equity for Q1 2025 is 0.42%, a decrease of 63.16% compared to 1.14% in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 73,381.72 million shares, accounting for 43.18% of the circulating shares, with an increase of 1,490.04 million shares compared to the previous period [1] - The largest shareholder, Xinxiang Bailu Investment Group Co., Ltd., holds 44,250.71 million shares, representing 26.03% of the total share capital, with no change [2] - New shareholders include Liu Bin, Liu Qing, and Xiao Ping, while Changcheng Securities Co., Ltd., Lin Jiazhu, and Longhua have exited the top ten shareholders [2] Dividend Policy - The company has announced that it will not distribute dividends or allocate shares this time [3]

Group 1 - The company plans to invest approximately RMB 720 million in the construction of a high-performance fiberglass yarn production line through its wholly-owned subsidiary, Huangshi Honghe Electronic Materials Technology Co., Ltd [1] - The project aims to reduce production costs and enhance product competitiveness, aligning with the company's main business development strategy [1]

一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.0600 | 0.0600 | 0 | -0.0600 | | 每股净资产（元） | 5.92 | 5.78 | 2.42 | 7.55 | | 每股公积金(元) | 2.63 | 2.68 | -1.87 | 3.78 | | 每股未分配利润(元) | 1.98 | 1.87 | 5.88 | 2.30 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 3.1 | 3.02 | 2.65 | 1.96 | | 净利润(亿元) | 0.13 | 0.13 | 0 | -0.12 | | 净资产收益率(%) | 1.03 | 1.03 | 0 | -0.99 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 13850.5万股，累计占流通股比： 64.01%，较上期变化： -154.01 ...

证券代码： 002254 证券简称：泰和新材 泰和新材集团股份有限公司 投资者关系活动记录表 编号：2025-024 | 投资者关系活动 | □特定对象调研 □ 分析师会议 | | | --- | --- | --- | | 类别 | □ 媒体采访 √ 业绩说明会 | | | | □ 新闻发布会 □ 路演活动 | | | | 现场参观 □ | | | | □ 其他 （请文字说明其他活动内容） | | | 参与单位名称及 | 投资者网上提问 | | | 人员姓名 | | | | 时间 | 2025 年 月 28 日（周一）下午 15:00~17:00 | 4 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） | | | | 采用网络远程的方式召开业绩说明会 | | | 上市公司接待人 | 1、总裁迟海平 | | | 员姓名 | 2、董事会秘书董旭海 | | | | 3、财务负责人顾裕梅 | | | | 4、独立董事程永峰 | | | | 5、保荐代表人徐焕杰 投资者提出的问题及公司回复情况 | | | | 公司就投资者在本次说明会中提出的问题进行了回复： 1、公司芳 ...

Investment Rating - The investment rating for the company is "Accumulate" with a target price of RMB 12.45 [8][9]. Core Views - The company reported a total revenue of RMB 101.3 billion for 2024, a year-on-year increase of 23%, and a net profit attributable to shareholders of RMB 1.2 billion, representing a 51% increase year-on-year [1][5]. - The polyester industry is expected to recover due to domestic demand recovery and improved textile and apparel exports, alongside a slowdown in production capacity growth [3][4]. Summary by Sections Financial Performance - In 2024, the company achieved a total revenue of RMB 101.3 billion, with a net profit of RMB 1.2 billion (RMB 930 million after deducting non-recurring items), marking a 51% increase year-on-year [1]. - The fourth quarter of 2024 saw a revenue of RMB 25.3 billion, with a net profit of RMB 200 million, reflecting a significant increase of 283% year-on-year [1][2]. Sales and Margins - The sales volume for POY, FDY, and DTY in 2024 was 9.68 million tons, 2.14 million tons, and 1.12 million tons, respectively, with year-on-year changes of +23%, +46%, and +13% [2]. - The average selling prices for POY, FDY, and DTY decreased by 2%, 3%, and remained flat, respectively, leading to a slight decline in overall gross margin to 4.6% [2]. Industry Outlook - The polyester industry is anticipated to see a recovery driven by domestic demand and improved export conditions, with a favorable supply-demand balance expected as production capacity growth slows [3][4]. - The average market prices for POY, FDY, and DTY have decreased since the beginning of 2025, indicating a challenging pricing environment [3]. Capacity and Projects - The company currently has a polyester polymerization capacity of 13 million tons per year and a polyester filament capacity of 13.5 million tons per year, holding an 18% market share in the domestic polyester filament market [4]. - Ongoing projects are progressing as planned, with significant milestones achieved in the Fujian and Anhui projects, expected to be completed in Q2 and Q3 of 2025, respectively [4]. Profit Forecast and Valuation - The net profit forecasts for 2025, 2026, and 2027 have been adjusted to RMB 1.99 billion, RMB 2.38 billion, and RMB 2.83 billion, respectively, reflecting a downward revision due to a slow recovery in the polyester industry [5]. - The estimated EPS for 2025, 2026, and 2027 is RMB 0.83, RMB 0.99, and RMB 1.18, respectively, with a target price based on a 15x PE ratio for 2025 [5].

一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.1100 | 0.0700 | 57.14 | 0.0900 | | 每股净资产（元） | 6.53 | 6.52 | 0.15 | 5.71 | | 每股公积金(元) | 2.97 | 2.99 | -0.67 | 2.18 | | 每股未分配利润(元) | 2.36 | 2.39 | -1.26 | 2.34 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 1.94 | 1.57 | 23.57 | 1.58 | | 净利润(亿元) | 0.12 | 0.09 | 33.33 | 0.09 | | 净资产收益率(%) | 1.62 | 1.10 | 47.27 | 1.51 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 4084.78万股，累计占流通股比： 49.39%，较上 ...

| 名称 | 持有数量(万股) | 占总股本比 | 增减情况 | | --- | --- | --- | --- | | | | 例(%) | (万股) | | 上海胜帮私募基金管理有限公司-共青城胜帮凯米投资合 | | | | | 伙企业(有限合伙) | 24635.82 | 25.02 | 不变 | | 湖州尤夫控股有限公司 | 12171.77 | 12.36 | 不变 | | 上海垚阔企业管理中心(有限合伙) | 7503.03 | 7.62 | 不变 | | 浙江尤夫高新纤维股份有限公司破产企业财产处置专用 账户 | 6208.32 | 6.30 | 不变 | | 香港佳源有限公司 | 3826.76 | 3.89 | 不变 | | 中融国际信托有限公司-中融-证赢130号集合资金信托计 划 | 3826.63 | 3.89 | 不变 | | 华融华侨资产管理股份有限公司 | 2550.44 | 2.59 | 不变 | | 华鑫国际信托有限公司-华鑫信托·鑫慧2号集合资金信托 计划 | 2312.15 | 2.35 | 不变 | | 长城华西银行股份有限公司成都分行 | 1689.95 | 1.72 ...