登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：601208 证券简称：东材科技 公告编号：2025-114 四川东材科技集团股份有限公司 关于2025年第三季度业绩说明会召开情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担个别及连带责任。 为加强与投资者的沟通交流，使广大投资者更加全面、深入地了解公司经营情况，四川东材科技集团股 份有限公司（以下简称"公司"或"本公司"）于2025年11月25日上午10:00-11:30在上海证券交易所"上证 路演中心"网络平台（http://roadshow.sseinfo.com），以视频录播结合网络文字互动方式召开了2025年第 三季度业绩说明会，针对公司的经营情况、战略发展规划等事项与投资者进行了充分交流，现将本次业 绩说明会召开情况公告如下： 问题2：请问第三季度高速电子树脂的营收占比及同比增速如何，对整体业绩的拉动作用是否超预期？ 回复：尊敬的投资者，您好！公司第三季度高速电子树脂的营收占比为11.68%，营收同比增幅约 100%。高速电子树脂作为本公司电子材料板块的 ...

Investment Rating - The report maintains an "Outperform" rating for the company [2] Core Views - The company reported a slight decline in Q3 performance but remains optimistic about the accelerated release of high-frequency and high-speed resins [1][7] - The company is increasing R&D investments, particularly in high-frequency and high-speed resin products, which are expected to benefit from the growing demand in AI computing [7] - The financial outlook has been slightly adjusted, with projected net profits for 2025-2027 revised to 4.00 billion, 5.99 billion, and 7.85 billion respectively [7] Financial Data and Earnings Forecast - Total revenue for Q3 2025 was 3.803 billion, a year-on-year increase of 17% [7] - The net profit attributable to the parent company for Q3 2025 was 283 million, reflecting a year-on-year growth of 20% [7] - The company expects total revenue to reach 5.110 billion in 2025, with a year-on-year growth rate of 14.3% [6] - The gross profit margin for Q3 2025 was 15.56%, with a slight increase year-on-year but a decrease quarter-on-quarter [7] - The projected earnings per share for 2025 is 0.39 yuan, with a PE ratio of 48 [6][7] Segment Performance - In the electronic materials segment, high-frequency and high-speed resins saw a sales volume increase of 50% year-on-year, driven by demand from AI applications [7] - The new energy materials segment reported a sales volume of 15,300 tons in Q3 2025, with revenue of 3.35 billion, although prices faced downward pressure [7] - Optical film materials achieved a sales volume of 32,800 tons, with revenue of 3.75 billion, indicating stable growth [7]

Core Insights - Sichuan Dongcai Technology Group Co., Ltd. has accelerated its innovation and research and development, particularly in high-frequency and high-speed resin materials, which are crucial for AI server manufacturing, leading to a revenue growth of nearly 15% and a net profit increase of nearly 20% in the first half of 2025 [1] Group 1: Company Background - The company originated from the "State-owned Oriental Insulation Material Factory" established in 1966 and relocated to Sichuan during the third-line construction period, primarily supporting Dongfang Electric [3] - In 2005, the company was fully acquired by Guangzhou Gaojin Group, completing its transformation from a state-owned enterprise [3] Group 2: Innovation Strategy - The establishment of the Dongcai Research Institute in 2018 marked a significant shift in the company's focus on technology innovation, with leadership roles assigned to ensure the R&D department has a voice in the company's strategic decisions [4] - The research institute has become a key driver for the company's growth, allowing for the development of advanced electronic materials, which have become a major profit contributor [5] Group 3: Technological Advancements - Dongcai Technology has made significant advancements in high-frequency and high-speed resin materials, achieving a reduction in dielectric loss from 0.0050 to 0.0005, positioning the company as a global leader in this field [6] - The company's products are in high demand due to the rapid growth of the AI industry, with applications in major companies like NVIDIA and Huawei [6] Group 4: Research Environment - The company fosters a supportive research environment, which has led to a low turnover rate among its R&D team, currently consisting of over 80 members, with plans to double this number [7] - The company emphasizes long-term technological innovation, preparing for future market demands in the AI industry [7]