江瀚新材(603281) - 投资者关系活动记录表（2024年9月）

Group 1: Company Performance - The company's sales volume increased by over 20% compared to the same period last year, with significant growth in overseas markets [2] - Despite the increase in sales volume, revenue remained flat or slightly declined due to continuous decreases in raw material and product prices [3] - The overall gross margin and net margin remained high, indicating a healthy development state for the company [3] Group 2: Market Insights - The domestic functional silane market prices have reached a bottom, with limited room for further price reductions [3] - The demand for silane products is steadily growing, and the industry is expected to maintain a growth rate of around 10% even in an economic downturn [5] - The company is not competing on price but focuses on high-value orders due to limited production capacity [5] Group 3: Future Projections - The company plans to complete a 90,000-ton functional silane and intermediate project by the end of this year, which will increase total functional silane capacity to 152,000 tons [7] - The new production capacity is expected to achieve a new supply-demand balance, contributing to future sales growth [7] - The company is also developing high-purity quartz sand, facing challenges in production equipment but making progress in related silane research [7] Group 4: Financial Strategies - The company has a higher dividend payout ratio compared to peers, with a projected dividend yield of 4%, exceeding bank deposit rates [6] - Future buyback plans will be decided by the board, but the company is open to multiple dividend distributions as encouraged by regulatory bodies [6]