Core Viewpoint - The company is a leading player in the aluminum thermal transmission materials industry, with a target price of 21.24 yuan based on a P/E valuation method, corresponding to a 15.0 times P/E for 2025 [1] Group 1: Company Overview - The company focuses on aluminum thermal transmission materials and has rapidly expanded its production capacity, aiming for a total of 500,000 tons/year of finished aluminum capacity by the end of 2024 [2] - The company plans to increase its production capacity to 800,000 tons/year after the completion of its Chongqing facility, positioning itself as a global leader in aluminum thermal transmission materials [2] Group 2: Competitive Advantages - The company boasts strong R&D capabilities, scale advantages, and cost management, leading to an average ROE of 20.6% from 2021 to 2024, significantly higher than the industry average of 12.0% [2] - The company’s focus on high-end markets allows it to achieve higher processing fees, while its scale reduces unit manufacturing costs and enhances supply capabilities [2] Group 3: Market Demand and Supply Dynamics - The demand for aluminum thermal transmission materials is expected to grow, particularly in the transportation sector, with the use in new energy vehicles doubling compared to traditional vehicles [3] - Emerging markets such as air conditioning and data centers are anticipated to further drive demand growth [3] - The competitive landscape is characterized by high industry barriers due to the customized and differentiated nature of customer demands, allowing leading companies to strengthen their market positions [3] Group 4: Growth Catalysts - Potential catalysts for growth include high demand from downstream orders, successful capacity expansion, and better-than-expected cost reduction and efficiency improvements [4] Group 5: Financial Projections - The company is projected to have EPS of 1.42 yuan and 1.68 yuan for 2025 and 2026, respectively, with a CAGR of 17.4%, corresponding to current P/E ratios of 11.4 times and 9.6 times [5] - The target price of 21.24 yuan implies a 31% upside from the current stock price, based on a 15.0 times P/E for 2025 [5]

中国—东盟自贸协定与RCEP形成叠加效应，持续释放红利。近日，江苏优佰利生活科技发展有限公司 一批宠物清洁湿巾销往泰国市场。凭借中国—东盟自由贸易协定原产地证书，该批货值9018美元的宠物 清洁湿巾可顺利享受进口国零关税优惠。作为一家扎根江阴的民营企业，此次出口宠物清洁湿巾是企业 开拓国际市场的第一步。 随着东盟地区新能源汽车市场的快速发展，对轻量化、高性能材料的需求日益增长。"我们的铝热传输 材料广泛应用于汽车热交换、轨道交通等领域，尤其在新能源汽车领域，优势更为突出。"无锡银邦金 属复合材料股份有限公司关务负责人杜燕说，"相较于传统材料，我们的产品重量更轻、抗拉强度更 大，独特的复合结构和创新配方还显著提升了热传导效率，完美契合了新能源汽车的市场需求。"据介 绍，今年前4月，该公司凭借原产地证书出口至东盟国家的产品货值已超过936万美元，同比增长 66.63%。 本报讯(记者宋晓华)据南京海关统计，今年前4月，江苏对东盟进出口3365.6亿元，同比增长23.4%。 5月11日，南通铁拳机电工具有限公司一批货值39.12万元的电动喷漆器、电动打气机等电动工具顺利装 箱运往越南。"我们的电动喷漆器施工效率是传 ...

证券代码：300337 证券简称：银邦股份 银邦金属复合材料股份有限公司投资者关系活动记录表 投资者关系活 动类别 □特定对象调研 □分析师会议 □媒体采访 □√ 业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 参与单位名称 及人员姓名 全体投资者 时间 2025 年 5 月 9 日 15:00—17:00 地点 全景网路演平台 上市公司接待 人员姓名 董事长兼总经理：沈健生 独立董事：许春亮 董事、副总经理：李如亮 董事、财务总监：王洁 董事会秘书：顾一鸣 证券事务代表：曾曙轩 投资者关系活 动主要内容介 绍 银邦股份 2024 年年度业绩网上说明会 提问及回答： 1、请问贵公司的淮北项目，投产了没有？主要为哪些企业配 套？有没有配套周边大企业的计划？ 回答：您好，公司年产 35 万吨新能源用再生低碳铝热传输材 投资者关系活动记录表 料项目（一期）截止到 2024 年底，完成累计投资 13.7 亿元， 成功实现主体厂房全面建成，总建筑面积达 14 万平方米。 在设备安装与调试方面：熔炼铸造、加热热轧、退火、冷轧、 精整分切等核心生产设备已全部安装完成，并顺利进入试运 行阶段。生产经营模式和无锡工厂 ...