太平洋证券股份有限公司王亮,王海涛近期对金发科技进行研究并发布了研究报告《金发科技2024年报及 2025年一季报点评：业绩持续改善，新材料国产替代打开成长空间》，给予金发科技买入评级。 金发科技(600143) 事件：金发科技近期发布2024年报和2025年一季报，公司2024年实现营业收入605.14亿元，同比增长 26.23%；归母净利润8.25亿元，同比增长160.36%。公司拟每10股派现1元(含税)。2025年一季度公司实现 归母净利润2.47亿元，同比增长138.20%。 点评： 改性塑料龙头地位稳固，业绩拐点初现。2024年公司实现营业收入605.14亿元，同比增长26.23%；实现归 母净利润8.25亿元，同比增长160.36%。其中，第四季度实现营业收入200.50亿元，同比增长46.9%；实现 归母净利润1.42亿元，同比扭亏为盈。公司2024年业绩同比大幅增长，三大业务均有亮眼表现：改性塑料 业务龙头地位的稳固，持续稳健增长，2024年实现销量255.15万吨，同比增长20.78%，营收320.75亿元， 同比增长18.95%；绿色石化板块实现减亏，取得营收114.36亿元，同比增长2 ...

证券代码：600143 证券简称：金发科技 公告编号：2025-048 金发科技股份有限公司 关于召开2024年度暨2025年一季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 金发科技股份有限公司（以下简称"公司"）已于 2025 年 4 月 22 日发布公司 2024 年年度报告、2025 年第一季度报告，为便于广大投资者更全面深入地了解 公司 2024 年年度及 2025 年第一季度经营成果、财务状况，公司计划于 2025 年 05 月 13 日（星期二）15:00-16:00 在"价值在线"（www.ir-online.cn）举办 2024 年度暨 2025 年一季度业绩说明会，与投资者进行沟通和交流，广泛听取投资者 的意见和建议。 会议召开时间：2025 年 05 月 13 日（星期二）15:00-16:00 会议召开地点：价值在线（www.ir-online.cn），投资者可访问网址 https://eseb.cn/1nPMmtjAMhO 或使用微信扫描下方小程序码参会。 会议召 ...

1 目录 Contents | 报告编制说明 | 01 | | --- | --- | | 致利益相关方 | 03 | | 走进金发科技 | 05 | | 我们的可持续发展管理 | 13 | | 专题：数智赋能，加快发展新质生产力 | 25 | | 附录 | | | GRI 指标索引 | 129 | | 交易所《指引》对标索引 | 134 | | 关键绩效表 | 135 | | 参与的主要国内协会与组织 | 139 | | 认证证书总览 | 141 | 环境责任 01 | 应对气候变化 | 35 | | --- | --- | | 环境合规管理 | 44 | | 污染物排放与废弃物处理 | 49 | | 能源利用 | 53 | | 水资源利用 | 56 | | 循环经济 | 61 | | 化学品安全 | 65 | | 原材料与包装材料管理 | 68 | 社会责任 02 | 创新驱动和知识产权 | 71 | | --- | --- | | 产品和服务安全与质量 | 80 | | 供应链安全 | 84 | | 助力行业发展 | 89 | | 平等、包容与多元化 | 93 | | 人才吸引与留任 | 95 | | ...

证券代码：600143 证券简称：金发科技 公告编号：2025-049 金发科技股份有限公司 关于股东大会开设网络投票提示服务的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 金发科技股份有限公司（以下简称"公司"）拟于 2025 年 5 月 20 日 14:00 召开公司 2024 年年度股东大会，本次会议采用现场投票和网络投票相结合的表 决方式。具体内容请见《金发科技股份有限公司关于召开 2024 年年度股东大会 的通知》（公告编号：2025-042）。 为更好地服务广大中小投资者，确保有投票意愿的中小投资者能够及时参会、 便利投票，公司拟使用上证所信息网络有限公司（以下简称"上证信息"）提供 的股东大会提醒服务，委托上证信息通过智能短信等形式，根据股权登记日的股 东名册主动提醒股东参会投票，向每一位投资者主动推送股东大会参会邀请、议 案情况等信息。投资者在收到智能短信后，可根据《上市公司股东会网络投票一 键通服务用户使用手册》（链接：https://vote.sseinfo.com/i/yjt_help.pdf）的 ...

证券代码：600143 证券简称：金发科技 公告编号：2025-047 金发科技股份有限公司 审议通过《2024 年环境、社会及公司治理（ESG）报告》 公司编制了《2024 年环境、社会和公司治理（ESG）报告》，旨在将可持续 发展理念融入公司治理，全面呈现公司在 ESG 方面的实践信息和相关绩效。 本议案已经公司第八届董事会战略与可持续发展委员会 2025 年第一次会议 审议通过。 表决结果为：同意 11 票，反对 0 票，弃权 0 票。 具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）的《金 发科技 2024 年环境、社会和公司治理（ESG）报告》。 第八届董事会第十五次（临时）会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、会议召开情况 金发科技股份有限公司（以下简称"公司"）第八届董事会第十五次（临时） 会议通知于 2025 年 4 月 23 日以电子邮件、企业微信和短信方式发出。会议于 2025 年 4 月 28 日以通讯表决方式召开，会议应出席董事 11 人，实际出席 ...

Investment Rating - The investment rating for the company is "Accumulate" (首次覆盖) [4] Core Views - The company achieved total operating revenue of 60.514 billion yuan in 2024, representing a year-on-year growth of 26.23%, and a net profit attributable to shareholders of 0.825 billion yuan, up 160.36% year-on-year [4] - In Q1 2025, the company reported total operating revenue of 15.666 billion yuan, a year-on-year increase of 49.06%, and a net profit of 0.247 billion yuan, reflecting a year-on-year growth of 138.2% [4] - The company is the largest global producer of modified plastics, with a production capacity of 3.72 million tons per year, and achieved a sales volume of 2.5515 million tons in 2024, up 20.78% year-on-year [6][10] - The company is actively expanding its overseas business, with revenue from overseas operations reaching 8.792 billion yuan in 2024, a year-on-year increase of 10.73% [6][10] Summary by Relevant Sections Financial Performance - In 2024, the company generated revenue of 60.514 billion yuan, with significant contributions from modified plastics (32.075 billion yuan), materials trading (12.371 billion yuan), green petrochemical products (11.436 billion yuan), and new materials (3.654 billion yuan) [6] - The gross profit margins for these segments were 22.07%, 0.41%, -6.36%, and 15.83% respectively [6] - The company expects net profits to reach 1.451 billion yuan in 2025, with a projected growth rate of 75.95% [8] Market Position and Strategy - The company is leveraging its competitive advantages in modified plastics to capture opportunities in emerging fields such as smart driving and recycling [6][10] - The company is enhancing its local supply and service capabilities in overseas markets, significantly increasing its market share in regions like the US, Europe, and Southeast Asia [6][10] Future Outlook - The company is projected to achieve net profits of 2.069 billion yuan in 2026 and 2.460 billion yuan in 2027, with corresponding P/E ratios of 13.6 and 11.4 [8][10] - The company is also focusing on the domestic production of high-end materials, aligning with national strategies for industrial development [10]

Investment Rating - The investment rating for the company is "Accumulate" (首次覆盖) [4] Core Views - The company achieved total operating revenue of 60.514 billion yuan in 2024, representing a year-on-year growth of 26.23%, and a net profit attributable to shareholders of 0.825 billion yuan, up 160.36% year-on-year [4] - In Q1 2025, the company reported total operating revenue of 15.666 billion yuan, a year-on-year increase of 49.06%, and a net profit of 0.247 billion yuan, up 138.2% year-on-year [4] - The company is the largest global producer of modified plastics, with a production capacity of 3.72 million tons per year, and achieved a sales volume of 2.5515 million tons in 2024, a growth of 20.78% year-on-year [6][10] - The company is expanding its overseas business, with revenue from overseas operations reaching 8.792 billion yuan in 2024, a year-on-year increase of 10.73% [6][10] Summary by Sections Financial Performance - In 2024, the company reported revenues of 60.514 billion yuan and a net profit of 0.825 billion yuan, with significant growth in various business segments [4][6] - The company forecasts revenues of 69.491 billion yuan for 2025, with a projected net profit of 1.451 billion yuan, indicating continued growth [8] Business Segments - The modified plastics segment generated 32.075 billion yuan in revenue, accounting for 53% of total revenue, with a year-on-year growth of 18.95% [6] - The green petrochemical segment reduced losses, contributing 11.436 billion yuan to revenue, with a year-on-year growth of 22.30% [6] Market Position and Strategy - The company is leveraging its competitive advantages in modified plastics to capture opportunities in emerging fields such as smart driving and recycling [6][10] - The company is enhancing its local supply and service capabilities in overseas markets, significantly increasing its market share [6][10]

关于金发科技股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表的专项审核报告 众环专字（2025）0500260号 电话 Tel: 027-86791215 传賣 Fax: 027-85424329 会发科技股份有限公司 用及其他关联资金往来情况汇总表 非经营性资金 频育核报告 众环专字(2025) 0500260 号 金发科技股份有限公司全体股东: 我们接受委托,在审计了金发科技股份有限公司(以下简称"金发科技")2024年 12 月 31 日合并及公司的资产负债表,2024年度合并及公司的利润表、合并及公司的现金流量 表和合并及公司的股东权益变动表以及财务报表附注的基础上,对后附的《上市公司 2024 年度非经营性资金占用及其他关联资金往来的情况汇总表》(以下简称"汇总表")进行了专 项审核。按照中国证券监督管理委员会印发的《上市公司监管指引第 8 号 -- 上市公司资金 往来、对外担保的监管要求》的规定,编制和披露汇总表、提供真实、合法、完整的审核证 据是金发科技公司管理层的责任,我们的责任是在执行审核工作的基础上对汇总表发表专项 审核意见。 我们按照中国注册会计师审计准则的相关规定执行了审核 ...

Investment Rating - The report maintains a "Recommendation" rating for the company with a target price of 12.24 CNY [1][7]. Core Views - The company has achieved significant growth in its financial performance, with a 2024 revenue of 60.514 billion CNY, representing a year-on-year increase of 26.23%, and a net profit of 0.825 billion CNY, up 160.36% year-on-year. The first quarter of 2025 continues this trend with a revenue of 15.666 billion CNY, a 49.06% increase, and a net profit of 0.247 billion CNY, up 138.20% year-on-year [1][3]. - The modified plastics, green petrochemicals, and new materials businesses have all seen growth in both sales and revenue, contributing to the overall performance improvement [1][3]. Financial Summary - **2024 Financial Performance**: Total revenue reached 60.514 billion CNY with a year-on-year growth of 26.23%. Net profit was 0.825 billion CNY, marking a 160.36% increase [1][3]. - **2025 Q1 Performance**: Revenue for the first quarter was 15.666 billion CNY, a 49.06% increase year-on-year, with net profit at 0.247 billion CNY, up 138.20% [1][3]. - **Sales Growth**: The modified plastics business sold 2.5515 million tons in 2024, a 20.78% increase, generating revenue of 32.075 billion CNY, up 18.95%. In Q1 2025, sales were 604,400 tons, a 25.26% increase, with revenue of 7.620 billion CNY, up 30.67% [1][7]. - **New Materials Business**: In 2024, sales reached 236,000 tons, a 32.51% increase, with revenue of 3.654 billion CNY, up 15.73%. Q1 2025 saw sales of 56,000 tons, a 26.13% increase, and revenue of 0.867 billion CNY, up 32.41% [1][7]. - **Green Petrochemicals**: Revenue for 2024 was 11.436 billion CNY, a 22.30% increase, with a gross margin improvement to -6.36%. In Q1 2025, sales were 447,500 tons, a 118.51% increase, with revenue of 3.289 billion CNY, up 126.79% [1][7]. Investment Recommendations - The company is expected to maintain rapid growth in modified plastics and new materials, supported by its global expansion and new market opportunities. Projected net profits for 2025-2027 are 1.414 billion CNY, 1.902 billion CNY, and 2.379 billion CNY, with corresponding year-on-year growth rates of 71.5%, 34.5%, and 25.1% respectively [1][7].

Group 1 - The company achieved a revenue of 60.51 billion yuan in 2024, representing a year-on-year increase of 26.2%, and a net profit attributable to shareholders of 0.82 billion yuan, up 160.4% year-on-year [1] - In Q1 2025, the company reported a revenue of 15.67 billion yuan, a year-on-year increase of 49.1%, and a net profit of 0.25 billion yuan, which is a 138.2% increase year-on-year [1] - The gross margin for Q1 2025 was 12.1%, improving by 2.6 percentage points quarter-on-quarter, indicating a gradual recovery in overall profitability, primarily driven by improvements in the green petrochemical segment [1] Group 2 - The modified plastics business saw steady expansion, with sales of 2.5515 million tons in 2024, a year-on-year growth of 20.8%, and Q1 2025 sales of 604,400 tons, up 25.3% year-on-year [2] - The company’s new factory in Vietnam is set to enhance global business growth, with overseas finished product sales reaching 233,500 tons in 2024, accounting for approximately 9% of total sales, and a year-on-year increase of 29.51% [2] - Plans for 2025 include accelerating the construction of overseas bases in Poland, Mexico, and Indonesia to enhance local supply and service capabilities [2] Group 3 - The new materials segment continued to grow, with sales of 236,000 tons in 2024, a year-on-year increase of 32.5%, and Q1 2025 sales of 5,600 tons, up 26.1% year-on-year [3] - Upcoming projects include a 15,000-ton LCP synthetic resin project expected to start production in June 2025 and an 8,000-ton specialty polyamide project planned for March 2026, indicating potential for sustained growth in the new materials segment [3] - The company’s specialty engineering plastics are expected to benefit from rapid developments in emerging fields such as humanoid robots, low-altitude economy, and VR/AR, with long-term growth anticipated from the commercialization of years of R&D成果 [3]