重要内容提示： 证券代码：600529 证券简称：山东药玻 公告编号：2024-068 山东省药用玻璃股份有限公司 关于使用闲置募集资金购买理财产品的进展公告 本公司董事会及全体董事保证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个别及连带责任。 到市场波动的影响，存在一定的系统性风险。公司将根据经济形势以 及金融市场的变化适时适量地介入，降低市场波动引起的投资风险。 一、本次委托理财概述 （一）投资目的 为提高募集资金使用效率，合理利用暂时闲置募集资金，在确保 不影响募集资金项目建设和使用、募集资金安全的情况下，增加公司 的收益，为公司及股东获取更多回报。 （二）投资金额 ●委托理财受托方:中国银行股份有限公司 ●委托理财金额：人民币 4,080.00 万元、人民币 3,920.00 万元 ●委托理财产品名称：人民币结构性存款【CSDVY202416966】、 人民币结构性存款【CSDVY202416967】 ●委托理财产品期限：96 天、94 天 ●履行的审议程序：公司于 2024 年 4 月 20 日召开了第十届董事 会第十二次会议和第十届监事会第十次会议 ...

证券代码：600529 证券简称：山东药玻 公告编号：2024-067 山东省药用玻璃股份有限公司 关于使用闲置募集资金购买理财产品的进展公告 本公司董事会及全体董事保证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个别及连带责任。 重要内容提示： ●委托理财受托方:中国工商银行股份有限公司 ●委托理财金额：人民币 10,000.00 万元 ●委托理财产品名称：挂钩型结构性存款【专户型 2024 年第 416 期 I 款】 ●委托理财产品期限：96 天 ●履行的审议程序：公司于 2024 年 4 月 20 日召开了第十届董事 会第十二次会议和第十届监事会第十次会议，并于 2024 年 5 月 16 日 召开了 2023 年年度股东大会，审议通过了《关于使用闲置募集资金 购买理财产品的议案》，同意公司使用总额度不超过人民币 10 亿元的 暂时闲置募集资金进行购买安全性高、流动性好、期限不超过 12 个 月（含）的保本型理财产品（包括但不限于协定性存款、结构性存款、 定期存款、通知存款、大额存单等），并在上述额度内滚动使用，募 集资金理财使用额度及授权的有效期为自议案 ...

Group 1: Business Performance - In Q3 2024, all business segments remained stable except for the subsidiary Baotou Fenghui Packaging, which experienced a decline due to the milk industry impact [2] - The company anticipates an improvement in Q4 performance compared to Q3 based on current trends [2] - October sales performance exceeded the average level of Q3 [3] Group 2: Market and Pricing Impact - The impact of the 10th batch of national centralized procurement is uncertain as the official documents are pending release, but the current market and pricing remain stable [2] - The company is closely monitoring the capital market dynamics and aims to enhance its market image and brand value [4] Group 3: Product Development and Quality - The company expects stable growth in performance and borosilicate products in 2025 [3] - The good product yield rate for borosilicate glass bottles is currently around 70%, with a 5-10% gap compared to competitors like Schott and Corning [5] Group 4: Cost Management - In Q3, the price of soda ash dropped, while energy prices rose, resulting in overall stable costs [5] Group 5: Dividend Policy - The mid-term dividend was based on stable growth to reward investors, with policies outlined in the company’s articles [5] - The company has increased the dividend ratio for 2024 [6] Group 6: Management and Incentives - The incentive fund management method has been effective in maintaining stable growth, despite concerns about the low threshold for performance growth [3] - The management's income is comparable to other listed companies and may be higher than local averages [4]

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company reported a revenue of 3.825 billion with a year-on-year increase of 4.1% for the first three quarters, and a net profit attributable to shareholders of 720 million, up 17.3% year-on-year [3][4]. - The decline in Q3 revenue by 1% is attributed to a significant drop in trade and carton businesses, but the demand for medium borosilicate glass continues to grow rapidly [4][5]. - The gross margin for Q3 was 31.6%, an increase of 0.9 percentage points year-on-year, benefiting from lower raw material costs [4]. - The company is expected to maintain steady growth, with a projected net profit of 930 million and 1.08 billion for 2024 and 2025, respectively, corresponding to PE ratios of 18 and 15 times [5]. Summary by Sections Financial Performance - For the first three quarters, the company achieved a gross margin of 32.1%, up 3.9 percentage points year-on-year, with a net profit margin of 18.8%, an increase of 2.1 percentage points [3]. - The company’s cash flow from operating activities was 1.048 billion in 2023, with a projected net cash flow of 885 million in 2024 [9]. Market Outlook - The demand for medium borosilicate glass is expected to improve, with the penetration rate projected to reach 30% by the end of the year [5]. - The company is well-positioned to lead the upgrade of medium borosilicate products due to its cost, technology, and customer advantages [5]. Valuation Metrics - The current stock price is 25.00, with a total share capital of 66.361 million shares and a net asset value per share of 11.74 [6]. - The company’s earnings per share (EPS) for 2023 is projected at 1.17, increasing to 1.91 by 2026 [9].

Investment Rating - The investment rating for Shandong Pharmaceutical Glass (600529) is "Buy" (maintained) [5] Core Views - The company reported a revenue of 3.83 billion yuan for the first three quarters of 2024, representing a year-over-year increase of 4.1%, and a net profit attributable to shareholders of 720 million yuan, up 17.3% year-over-year. However, Q3 2024 revenue was 1.24 billion yuan, down 1.0% year-over-year and down 6.0% quarter-over-quarter. The decline in Q3 is attributed to seasonal impacts and non-core business disruptions. The company maintains strong growth momentum and competitive advantages, with a focus on the pace of new round of centralized procurement [3][7]. Summary by Sections Financial Performance - For Q1-Q3 2024, the company achieved a gross margin of 32.1%, an increase of 3.9 percentage points year-over-year. The gross margin for Q3 2024 was 31.6%, up 0.9 percentage points year-over-year but down 2.5 percentage points quarter-over-quarter. The net profit margin for Q1-Q3 2024 was 18.8%, an increase of 2.1 percentage points year-over-year, with Q3 net profit margin at 19.8%, up 1.5 percentage points year-over-year and up 0.5 percentage points quarter-over-quarter [7][8]. Future Projections - The company expects revenues of 5.64 billion yuan, 6.50 billion yuan, and 7.59 billion yuan for 2024, 2025, and 2026 respectively, with year-over-year growth rates of 13%, 15%, and 17%. The net profit attributable to shareholders is projected to be 940 million yuan, 1.13 billion yuan, and 1.38 billion yuan for the same years, with growth rates of 22%, 20%, and 21% respectively. The earnings per share (EPS) are forecasted to be 1.42 yuan, 1.71 yuan, and 2.07 yuan for 2024, 2025, and 2026 respectively [7][8]. Market Position - The company is positioned as a leader in molded bottles, with stable growth in demand for pharmaceutical glass and continuous improvement in product structure. The expansion into new product categories and overseas markets has been effective, highlighting the importance of the company's growth momentum [3][7].

Investment Rating - The investment rating for the company is "Buy" and is maintained [2][7]. Core Views - The company reported a revenue of 3.825 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 4.12%, while the net profit attributable to the parent company was 720 million yuan, up 17.29% year-on-year [2]. - In Q3 2024, the company achieved a revenue of 1.239 billion yuan, a slight decline of 0.99% year-on-year, but the net profit for the same quarter was 245 million yuan, reflecting a year-on-year increase of 7.23% [2]. - The revenue growth has slowed down, but Q4 is expected to accelerate due to the gradual implementation of centralized procurement [2][3]. - The gross margin for Q3 2024 was 31.6%, showing a year-on-year increase of 0.9 percentage points but a decrease of 2.5 percentage points quarter-on-quarter, primarily due to product mix effects [2][3]. Financial Performance - The company forecasts revenues of 5.573 billion yuan and 6.196 billion yuan for 2024 and 2025, respectively, with year-on-year growth rates of 11.9% and 11.2% [4]. - The net profit attributable to the parent company is projected to be 948.31 million yuan in 2024 and 1.0965 billion yuan in 2025, with growth rates of 22.24% and 15.63% respectively [4]. - The earnings per share (EPS) are expected to be 1.43 yuan in 2024 and 1.65 yuan in 2025, with corresponding price-to-earnings (P/E) ratios of 17.89X and 15.48X [4][6].

Investment Rating - The report maintains a "Recommended" rating for the company [2][4]. Core Views - The company achieved a revenue of 3.825 billion yuan in Q1-Q3 2024, representing a year-on-year increase of 4.12%. The net profit attributable to shareholders was 720 million yuan, up 17.29% year-on-year [2]. - The report highlights the stable growth in Q3, with a revenue of 1.239 billion yuan, a slight decrease of 0.99% year-on-year, while the net profit increased by 7.23% to 245 million yuan [2]. - The report emphasizes the positive outlook for the company's growth driven by the increasing demand for borosilicate molded bottles, export market conditions, and the reduction in soda ash costs enhancing profit margins [2]. Financial Performance Summary - For Q1-Q3 2024, the gross margin was 31.58%, an increase of 0.88 percentage points year-on-year, while the net profit margin was 19.80%, up 1.52 percentage points year-on-year [2]. - The report notes a decrease in the average price of heavy soda ash to 2012 yuan/ton, down 18.2% year-on-year, while the price of LNG increased to 4906 yuan/ton, up 19.6% year-on-year [2]. - The company adjusted its net profit forecasts for 2024-2026 to 934 million, 1.085 billion, and 1.242 billion yuan, respectively, corresponding to PE ratios of 18, 16, and 14 times [2][5].

公司报告 | 季报点评 Q3 收入环比下滑，净利率持续增长，下游需求仍有望保持高景气 公司三季度实现归母净利润 2.45 亿元，同比提升 7.23% 公司发布 24 年三季报，前三季度实现收入/归母净利润 38.25/7.20 亿元， 同比+4.12%/+17.29%，前三季度实现扣非归母净利润 6.89 亿元，同比 +16.72%。其中 Q3 单季度实现收入/归母净利润 12.39/2.45 亿元，同比 -0.99%/+7.23%，扣非归母净利润 2.34 亿元，同比+4.28%。 Q3 成本端有所优化，净利率续创新高 公司 Q3 收入/归母净利润环比分别下滑 6.03%/3.58%，成本端纯碱/煤炭价 格均有优化， Q3 行 业 均 价 环 比 分 别 -4.55%/-0.04% ，同比分别 -18.23%/-2.09%，前三季度整体毛利率 32.10%，同比+3.89pct，其中，Q3 单季度整体毛利率 31.58%，同比/环比分别+0.88/-2.47pct。前三季度期间 费用率 8.61%，同比+1.02pct，其中销售/管理/研发/财务费用率同比分别 -0.26/+0.68/+0.47/+0.13 ...

证券代码：600529 证券简称：山东药玻 编号：2024-064 山东省药用玻璃股份有限公司 第十届董事会第十四次会议决议公告 本公司董事会及全体董事保证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个别及连带责任。 第一部分、董事会会议召开情况 具体内容详见在上海证券交易所网站（www.sse.com.cn）披露 的《山东省药用玻璃股份有限公司2024年第三季度报告》。 赞成票：9票，反对票：0票，弃权票：0票。 第三部分、备查文件 1、山东省药用玻璃股份有限公司第十届董事会第十四次会议决 议。 1 2、山东省药用玻璃股份有限公司第十届董事会审计委员会 2024 年第四次会议决议 特此公告。 山东省药用玻璃股份有限公司 山东省药用玻璃股份有限公司（以下简称"公司"或"山东药 玻"）第十届董事会第十四次会议通知于2024年10月15日以书面结 合通讯方式向全体董事发出，会议于2024年10月26日上午9:00，在 公司研发大楼六楼会议室以现场结合通讯方式召开，会议应到董事9 名，现场实到董事5名, 4名董事以通讯方式进行表决，2名监事、财 务负责人、董事会秘书列 ...

证券代码：600529 证券简称：山东药玻 编号：2024-065 山东省药用玻璃股份有限公司 第十届监事会第十二次会议决议公告 本公司监事会及全体监事保证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个别及连带责任。 第一部分、监事会会议召开情况 山东省药用玻璃股份有限公司（以下简称"公司"或"山东药玻"） 第十届监事会第十二次会议通知，于2024年10月15日以书面方式向全 体监事发出，会议于2024年10月26日上午在公司研发大楼六楼会议室 召开，应到监事3名，现场实到监事2名，1名监事通讯表决，会议由 公司监事会主席召集并主持，符合《公司法》和《公司章程》的有关 规定。 第二部分、监事会会议审议情况 本次会议由监事会主席主持，以记名投票方式审议通过了《公司 2024年第三季度报告》，具体内容详见在上海证券交易所网站 （www.sse.com.cn）披露的《山东省药用玻璃股份有限公司2024年第 三季度报告》。 虚假记载、误导性陈述或者重大遗漏。 第三部分、备查文件 1、山东省药用玻璃股份有限公司第十届监事会第十二次会议决 议。 特此公告。 山东省药用玻璃股 ...