本次交流会分为公司2025年半年度经营业绩情况说明和交流互动两个环节。 2025年8月26日10:00 - 11:00，多氟多新材料股份有限公司举行了业绩说明会及电话会议，与长江证券股 份有限公司等69家机构进行交流。上市公司接待人员包括董事会秘书彭超、证券部部长王蓓以及投关负 责人郭瑞宽 。 点击查看公告原文>> 责任编辑：小浪快报 在公司上半年经营业绩方面，2025年上半年，多氟多实现营业收入43.28亿元，同比下降6.65%；归属于 上市公司股东的净利润0.51亿元，同比下降16.55%；基本每股收益为0.04元/股。公司表示，所处行业竞 争激烈，虽六氟磷酸锂等部分主营产品产销量提升，但市场价格低位运行，致使盈利能力降低。未来， 公司计划通过扩展市场、优化服务、提升运营效率等方式应对。 在交流互动环节，机构就多个业务板块进行提问： 1.业务版块营收与盈利：上半年，氟基新材料营收占 比30.39%，电子信息材料营收占比5.55%，新能源材料营收占比34.97%，新能源电池营收占比25.30%。 氟基新材料、新能源材料和新能源电池对毛利的贡献分别为8.62%、19.53%、9.74%。 2.六氟磷酸锂出 货 ...

Business Overview - Kangda New Materials is a leading fine chemical enterprise in China, specializing in high-end adhesives and polymer new materials, with over 30 years of technological accumulation and innovation [2]. - The company maintains the largest market share in the domestic market for wind turbine blade structural adhesives [2][3]. Wind Power Sector Performance - In 2024, the sales volume of wind turbine blade epoxy structural adhesives exceeded 40,000 tons, while epoxy infusion resin sales reached 45,000 tons, showing steady growth over three consecutive years [3]. - In Q1 2025, the company continued to lead the industry in sales of wind turbine blade epoxy structural adhesives [3]. Core Competitiveness - The company has nearly 300 authorized patents and several industry standards, supported by a national enterprise technology center [4]. - It has established a strong customer base and received multiple industry honors and certifications, ensuring product quality recognition [4]. Financial Performance - In Q1 2025, the net profit attributable to shareholders reached 6.3718 million yuan, a 125.70% increase compared to the same period last year, driven by significant revenue growth and improved operational efficiency [5]. Acquisition Strategy - The company intends to acquire Chengdu Zhongke Huamei Electronics Co., Ltd., a high-tech enterprise specializing in integrated circuit products, to expand into the semiconductor integrated circuit field [6][7]. - This acquisition aims to enhance profitability and operational sustainability by integrating quality assets in the special integrated circuit design and testing sectors [7]. R&D and Product Development - The company is developing aluminum oxide targets and CMP (Chemical Mechanical Polishing) slurries for semiconductor manufacturing, with ongoing internal testing [7]. - Its subsidiary, Dalian Qihua, specializes in high-quality epoxy resin production, serving various industries including new energy and aerospace [7]. International Expansion - The establishment of a new adhesive materials production base in Thailand aims to meet overseas customer demands and enhance international business operations [8]. - The company is actively expanding its overseas market presence, particularly in Southeast Asia, Central Asia, and South Asia, leveraging its core product advantages [8].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expectation that the company's stock will outperform the benchmark index by more than 20% over the next 6-12 months [2][6]. Core Views - The company has faced challenges in its zeolite and pharmaceutical segments due to weak downstream demand, but there is optimism regarding the growth potential from its various new material developments [4][9]. - The financial performance for 2024 shows a total revenue of RMB 3.693 billion, a decrease of 14.22% year-on-year, and a net profit attributable to shareholders of RMB 246 million, down 67.72% year-on-year [4][10]. - The report highlights the company's ongoing research and development efforts and the successful progress in new materials, which are expected to drive long-term growth [9][12]. Financial Summary - For 2024, the company reported total revenue of RMB 36.93 billion, with a significant decline in net profit to RMB 2.46 billion, reflecting a 67.72% decrease compared to the previous year [4][10]. - The first quarter of 2025 saw a revenue drop of 8.17% to RMB 861.23 million, with a net profit decrease of 18.76% to RMB 79.87 million [12]. - The earnings per share (EPS) estimates for 2025, 2026, and 2027 are projected to be RMB 0.39, RMB 0.48, and RMB 0.56 respectively, with corresponding price-to-earnings (PE) ratios of 28.4, 23.1, and 19.6 [6][8]. Business Segment Performance - The functional materials segment generated RMB 30.19 billion in revenue for 2024, down 10.30% year-on-year, with a gross margin of 39.96% [9]. - The company has maintained its leading position in high-end liquid crystal monomer materials and has seen good development in OLED materials, while also making progress in semiconductor manufacturing materials [9][12]. - The life sciences and pharmaceutical business experienced a revenue decline of 28.65% to RMB 6.29 billion in 2024, although the gross margin improved to 38.16% [9]. Future Outlook - The company is expected to expand its production capacity in functional materials, with the first phase of the Penglai project set to gradually come online in the first half of 2025 [9]. - The report emphasizes the potential for growth in various new materials, including applications in the petrochemical sector and advancements in OLED and semiconductor materials [9][12].