证券代码：300019 证券简称：硅宝科技 成都硅宝科技股份有限公司投资者关系活动记录表 编号：2025-009 | 投资者关系 | 特定对象调研 | □分析师会议 | □媒体采访 | | --- | --- | --- | --- | | 活动类别 | □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 | 博时基金、国金证券、中信建投证券等 | | | | 及人员姓名 | | | | | 时间 2025 | 年 12 月 10 日 | | | | 地点 | 现场调研 | | | | 接待人员 董事长 | 王有治，总经理 李媛媛等 | 黄强，副总经理兼董事会秘书 | | | | 公司与分析师及投资者就公司相关经营情况进行了交流。 | | | | | 主要内容如下： | | | | | 一、公司目前的产能布局情况及未来扩产规划？ | | | | | 回复：公司生产实力雄厚，产能规模位居行业第一，目前已建成西南、华 | | | | | 东两大生产中心，拥有 9 大生产基地，位于四川成都、四川眉山、江苏南通、 | | | | | 安徽马鞍山、上海等地，具 ...

回复：公司密封胶产品在装饰装修领域应用广泛，包括但不限于门窗接缝 防水、陶瓷大板粘结、踢脚线、厨房/洗手间用具接缝处防水、瓷砖美缝、镜面 粘结、挂饰粘结等。一方面，公司装饰装修胶具备显著的技术优势，依托自研 核心技术，在环保、粘结、耐候等性能方面达到行业领先水平，并通过多项权 威认证，广泛适配建筑工程与家装等多样化场景；另一方面，公司室内装饰用 产品对人体及环境均无危害，全面满足 GB 33372-2020《胶粘剂中挥发性有机 化合物（VOC）限量》标准的规定。随着"好房子、好小区、好社区、好城区" 的建设理念的推进，公司产品在高端建筑、装饰装修领域中发挥重要作用，稳 居建筑胶行业第一品牌。近期，由住房和城乡建设部科技与产业化发展中心组 织开展的关于"好房子"建设适用建材产品审查结果已公示，公司有机硅密封 胶产品成功进入《"好房子"建设适用建材产品（2025 年）》名录。 四、目前公司热熔胶产能有多少？未来是否计划扩充产能？ 回复：公司热熔胶产品主要应用于标签、卫生用品、工业胶带、医疗、防 水卷材、汽车等领域，现有产能 11 万吨/年。目前，公司现有产能可以满足现 阶段热熔胶销售需求，未来公司将根据客户及市场 ...

Core Viewpoint - Silicon Treasure Technology (300019) focuses on the research, production, and sales of high-end organic silicone sealants and other new materials, emphasizing its commitment to the new materials industry [1] Group 1: Company Overview - The company has enhanced its business layout through years of technological innovation, mergers and acquisitions, and capacity construction [1] - The product portfolio includes high-end organic silicone sealants, hot melt adhesives, silane coupling agents, and silicon-carbon anode materials [1] Group 2: Application Areas - Construction adhesives are primarily used in building curtain walls, insulated glass, energy-saving doors and windows, prefabricated buildings, interior decoration, and airport bridges [1] - Industrial adhesives are applied in electronics, automotive manufacturing, new energy, power batteries, energy storage, electricity, and aerospace [1] - Hot melt adhesives are utilized in label printing, hygiene products, waterproof materials, medical supplies, tapes, footwear, and packaging [1] - Silane coupling agents are used in sealants, photovoltaic EVA films, fiberglass, casting resins, coatings, modified plastics, modified powders, and metal surface treatment agents [1] - Silicon-carbon anode materials are mainly used in lithium-ion batteries [1]

Group 1: Company Overview and Product Applications - The company focuses on the new materials industry, specializing in the research, production, and sales of high-end silicone sealants and other new materials [2] - The product range includes high-end silicone sealants, hot melt adhesives, silane coupling agents, and silicon-carbon anodes, with applications in construction, electronics, automotive, and renewable energy sectors [2][3] Group 2: Sales Growth Factors - The increase in sales of construction adhesives in the first half of 2025 is attributed to: 1. Industry consolidation due to market exit of smaller companies, enhancing competitive advantage [3] 2. Upgrading consumer demands in the decoration and renovation sectors, leading to increased adhesive usage [3] 3. Government initiatives like the "Urban Renewal Plan" providing new sales opportunities [3] Group 3: Product Performance and Innovations - The electronic adhesives exhibit superior electrical insulation, chemical stability, and moisture resistance, ensuring long-term protection for electronic components [3] - The company has developed low-density silicone flame-retardant sealing materials for use in power batteries and drone modules, addressing challenges in lightweight applications [3][4] Group 4: Market Expansion and Strategy - The company is expanding its silicon-carbon anode production capacity, with a 50 tons/year pilot production line established in 2019 and a planned 50,000 tons/year project underway [5] - In response to tariff policies affecting hot melt adhesive sales, the company is innovating products, enhancing brand recognition, and diversifying sales networks to mitigate risks [5]

Core Insights - The article highlights the significant growth and market potential of Silbond Technology, a leading company in the adhesive industry, particularly in high-end silicone sealants and other new materials [1][3][4]. Company Overview - Silbond Technology was established in 1998 and became one of the first companies listed on the Growth Enterprise Market in 2009, marking a pivotal step in its development [3]. - The company has grown from a revenue of 170 million yuan in 2009 to 3.159 billion yuan in 2024, representing nearly a 19-fold increase [3]. - In the first half of 2024, Silbond reported a revenue of over 1.707 billion yuan, reflecting a year-on-year growth of 47.36% [3]. Innovation and R&D - The core driver of Silbond's rapid growth is its commitment to innovation and research and development, with annual R&D investments exceeding 100 million yuan [4]. - The company has established several national-level innovation platforms, including a national enterprise technology center and a recognized testing center [5]. Market Expansion - Silbond is actively expanding into new sectors, particularly in the context of the global shift towards AI, renewable energy, and big data [7]. - The company’s products are widely used in the automotive industry, especially in new energy vehicles, with sales of industrial adhesive products increasing by 22.66% in weight and 17.45% in revenue in 2024 [7]. - In the electronics sector, Silbond's sales revenue grew by 37.88%, further enhancing its market share with major clients like BYD and CATL [7]. Industry Growth - The new materials industry in Chengdu, where Silbond is based, is experiencing significant growth, with a reported industrial added value increase of 10.2% in 2024 [8]. - The industry is projected to exceed 200 billion yuan in scale by 2025, maintaining a position among the top ten in the country [8]. Future Outlook - Silbond is optimistic about the future of the new materials and renewable energy sectors, driven by national carbon neutrality goals and the rapid development of related industries [8]. - The company plans to leverage Chengdu's favorable business environment and resources to expand its product applications in electronics and biomedicine [9].

Group 1: Company Overview and Performance - Chengdu Silicon Treasure Technology Co., Ltd. focuses on high-end organic silicon sealants and new materials, with a diverse product system serving key national industries [2][3] - In H1 2025, the company achieved a revenue of CNY 1,707.10 million, a year-on-year increase of 47.36%, and a net profit of CNY 154.14 million, up 51.56% [3][4] Group 2: Product Performance - The construction adhesive segment generated revenue of CNY 651.15 million, maintaining its leading position in the market [3][4] - The industrial adhesive segment reported revenue of CNY 441.68 million, driven by strong demand in automotive and electronics sectors [4][5] Group 3: Market Trends and Challenges - The organic silicon upstream raw material prices showed significant fluctuations, remaining at historically low levels [2][3] - Increased competition in the organic silicon industry is leading to a concentration of market share among leading companies [3][4] Group 4: Strategic Initiatives - The company is expanding its lithium battery silicon-carbon anode materials project, with a production capacity of 50,000 tons per year, and has successfully launched several production lines [5][6] - The company has established a strong overseas presence, exporting products to over 60 countries, with export revenue reaching CNY 223.46 million, a 288.01% increase [6][7] Group 5: Future Plans - The company aims to enhance its production scale and establish three major production centers in Southwest, East, and South China [8][9] - Future strategies include diversifying into new materials, strengthening R&D capabilities, and achieving a revenue target of CNY 10 billion in the next decade [8][9]

Financial Performance - Company reported total revenue of 1.707 billion yuan for the first half of 2025, a year-on-year increase of 47.36% [1] - Net profit attributable to shareholders reached 154 million yuan, up 51.56% year-on-year [1] - In Q2 2025, total revenue was 929 million yuan, reflecting a 35.78% increase compared to the same quarter last year [1] - Gross margin was 21.88%, a decrease of 2.57% year-on-year, while net margin improved to 9.03%, an increase of 2.85% [1] - The company's accounts receivable accounted for 300.56% of net profit, indicating a significant amount of receivables [1][4] Financial Metrics - Earnings per share (EPS) increased to 0.39 yuan, a rise of 50.75% year-on-year [1] - Operating cash flow per share remained stable at 0.2 yuan, with a slight increase of 2.65% [1] - Total liabilities increased, with interest-bearing debt rising to 339 million yuan, a 15.71% increase [1][3] Industry Outlook - Company operates in the new materials sector, focusing on high-end organic silicone sealants and other advanced materials [5] - The adhesive industry is experiencing rapid growth, driven by national strategic emerging industries and the demand for high-quality materials [5] - The development of new production capabilities and the digital economy is expected to provide stable market demand for the adhesive sector [5]

Core Insights - The company achieved record-high operating performance in the first half of 2025, with revenue of 1.707 billion yuan, a year-on-year increase of 47.36%, and a net profit attributable to shareholders of 154 million yuan, up 51.56% year-on-year [1] Group 1: Business Performance - The company has established a comprehensive product system including high-end silicone sealants, hot melt adhesives, silane coupling agents, and silicon-carbon anodes, serving key industries such as construction, automotive manufacturing, new energy, and information technology [1] - The construction adhesive segment remains a market leader, with increased sales volume and market share due to the company's strong brand and customer relationships [1] - The industrial adhesive segment is experiencing rapid growth, driven by technological innovation and collaboration with leading industry clients [2] Group 2: Product Development and Innovation - The company is focusing on the development of silicon-carbon anode materials, with a stable operation of a 1,000 tons/year pilot line and a 3,000 tons/year production line, leading to a rapid increase in sales [2] - The company has successfully implemented projects for lithium battery silicon-carbon anode materials and specialized adhesives, with production lines launched as planned [2] Group 3: Market Expansion - The company is accelerating its overseas market expansion, achieving export sales of 223 million yuan, a year-on-year increase of 288.01%, with products sold in over 60 countries and regions [3]