金博股份20240528

Summary of the Conference Call for Jinbo Co., Ltd. Company Overview - Jinbo Co., Ltd. was established on June 6, 2005, and listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on May 18, 2020. The company specializes in the research, production, and sales of advanced carbon-based composite materials, serving strategic emerging industries such as photovoltaics, semiconductors, transportation, hydrogen energy, and lithium batteries [2][3][4]. Core Business and Achievements - The company has developed a low-cost preparation technology for carbon-carbon composite materials and has established several research platforms, including provincial engineering research centers [3]. - Jinbo has received numerous accolades, including being recognized as a key high-tech enterprise under the National Torch Program and a "specialized, refined, distinctive, and innovative" small giant enterprise by the Ministry of Industry and Information Technology [2][9]. Financial Performance - In 2023, the company achieved a revenue of 1.072 billion yuan, with a net profit attributable to shareholders of 202 million yuan. However, the net profit after deducting non-operating losses was -12 million yuan. Total assets amounted to 716.1 million yuan, and equity attributable to shareholders was 605.8 million yuan [9][10]. - For Q1 2024, revenue was 202 million yuan, with a net loss of 55 million yuan. Total assets were 694.9 million yuan, and equity attributable to shareholders was 595.3 million yuan [10]. Production and R&D - The company has significantly increased its production capacity, with an output of 3,419.07 tons of advanced carbon-based composite materials in 2023, representing a year-on-year growth of over 35% [10]. - R&D investment in 2023 was 152 million yuan, accounting for 14.16% of revenue, while Q1 2024 saw an increase to 35 million yuan, or 17.27% of revenue [11]. Product Development and Market Position - Jinbo has developed products for various sectors, including: - Photovoltaics and Semiconductors: The company has led the development of carbon-based thermal field systems, achieving significant advancements in material substitution [5][6]. - Transportation: The company has established a full industrial chain for carbon-ceramic brake discs, supplying several leading new energy vehicle manufacturers [6]. - Hydrogen Energy: Jinbo has made breakthroughs in the domestic production of key materials for hydrogen energy applications, including carbon paper and bipolar plates [7]. - Lithium Batteries: The company has developed a series of carbon-based thermal field products for lithium battery applications, enhancing production efficiency and reducing costs [8][15]. Strategic Development - Jinbo aims to become a world-class platform for advanced carbon material research and production, focusing on high-performance, low-cost, and multi-purpose materials [18]. - The company plans to continue expanding its applications in various sectors while maintaining its leadership in the photovoltaic thermal field [18]. Shareholder Engagement and Incentives - The company has implemented a stock incentive plan and has conducted multiple share buybacks to enhance investor confidence, repurchasing a total of 3.33436 million shares for 402 million yuan [13][14]. Conclusion - Jinbo Co., Ltd. is positioned for growth in the advanced carbon materials sector, with a strong focus on R&D, strategic partnerships, and market expansion across multiple high-tech industries [18][19].