本次股票上市流通总数为 34,059,077 股。 证券代码：688146 证券简称：中船特气 公告编号：2024-011 中船（邯郸）派瑞特种气体股份有限公司 首次公开发行部分限售股上市流通公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为首发战略配售股份（限售期 12 月）；股票认购方式为 网下，上市股数为 13,500,000 股。本公司确认，上市流通数量等于该限售期的全部 战略配售股份数量。 除首次公开发行战略配售股份外，其余本次股票上市类型为首发限售股份； 股票认购方式为网下，上市股数为 20,559,077 股。该限售股为公司首次公开发行前 实施的国有科技型企业股权激励计划持有的股份，其中，员工股权激励平台天津万 海长红科技中心（有限合伙）持有股份 12,504,413 股，占公司股本总数的 2.36%； 员工股权激励平台天津万海长风科技中心（有限合伙）持有股份 8,054,664 股，占 公司股本总数的 1.52%。根据《国有科技型企业股权和分红激励暂行办法》（财资 〔2 ...

中信建投证券股份有限公司 关于中船（邯郸）派瑞特种气体股份有限公司 首次公开发行部分限售股上市流通的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐人"）作 为中船（邯郸）派瑞特种气体股份有限公司（以下简称"公司"或"中船特气"） 首次公开发行股票并在科创板上市的保荐人，根据《证券发行上市保荐业务管理 办法》《上海证券交易所科创板股票上市规则》等有关法律法规和规范性文件的 要求，对中船特气首次公开发行部分限售股上市流通的事项进行了核查，具体情 况如下： 一、本次上市流通股的限售股类型 （一）天津万海长红科技中心（有限合伙）、天津万海长风科技中心（有限 合伙）承诺 本次上市流通的限售股属于首次公开发行部分限售股份，自公司首次公开发 行股票限售股形成至本核查意见出具之日，公司未发生因利润分配、公积金转增 等导致股本数量变化的情况。 三、本次上市流通的限售股的相关承诺 根据公司《首次公开发行股票并在科创板上市招股说明书》《首次公开发行 股票科创板上市公告书》，本次申请上市流通的限售股股东对其持有的股份承诺 如下： 2023 年 10 月 23 日，公司首次公开发行网下配售的 4,451,666 ...

证券代码：688146 证券简称：中船特气 公告编号：2024-010 中船（邯郸）派瑞特种气体股份有限公司 第一届董事会第三十次会议决议公告 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、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 中船（邯郸）派瑞特种气体股份有限公司（以下简称"中船特气"或"公司"） 第一届董事会第三十次会议（以下简称"本次会议"或"会议"）于 2024 年 4 月 3 日在公司会议室以现场与通讯相结合的方式召开。本次会议通知于 2024 年 3 月 31 日通过邮件的方式送达各位董事。本次会议应出席董事 9 人，实际出席董 事 9 人。会议由董事长宫志刚主持，公司部分高管列席会议。会议召集、召开程 序符合有关法律、法规、规章和《公司章程》的规定，会议决议合法、有效。 二、董事会会议审议情况 （一）审议通过《关于提请审议中船（邯郸）派瑞特种气体股份有限公司电 子特气研发中心建设项目（一期）项目可行性研究报告的议案》 根据中船派瑞特种气体（呼和浩特）有限公司高纯电子气体项目（一期）项 目进展要求，公司组织编制完成了中船派瑞 ...

Investment Rating - The report initiates coverage on the company with an "Overweight" rating, citing its strong position in the domestic electronic specialty gases market and its potential for long-term growth [2][6] Core Views - The company is a leading domestic electronic specialty gases manufacturer, with core products such as nitrogen trifluoride (NF3) and tungsten hexafluoride (WF6) breaking foreign monopolies and achieving global leading production capacities [2] - The company is focusing on expanding its product portfolio and capacity to support domestic substitution, with 13 major gas products planned, including hydrogen chloride and disilane, which are undergoing customer certification [2] - The company is diversifying into trifluoromethanesulfonic acid series products, which are expected to inject new growth momentum, with global demand for trifluoromethanesulfonic acid and its derivatives estimated at 865 tons and lithium bis(trifluoromethanesulfonyl)imide at 500 tons [2] Financial Projections and Valuation - The company is expected to achieve net profits of 335 million, 391 million, and 496 million yuan for 2023-2025, with corresponding P/E ratios of 42x, 36x, and 28x [2][6] - The average P/E ratio of comparable companies (Guanggang Gas and Nanda Optoelectronics) for 2023 is 49x, while the company's 2023 P/E ratio is 42x, indicating potential undervaluation given its growth prospects [6] Product and Capacity Expansion - The company's core product, NF3, has a current capacity of 9,250 tons, with an additional 3,250 tons from a fundraising project and 7,500 tons planned for the Inner Mongolia base [2] - The company is also expanding its WF6 capacity, with a current capacity of 2,230 tons, and is the first to synthesize electronic-grade WF6 from NF3 [2] - Other specialty gas products, such as high-purity hydrogen chloride and hexafluorobutadiene, are expected to maintain high growth rates of 20%, 60%, and 60% from 2023 to 2025, with gross margins projected at 28%, 35%, and 35% [7] Market Position and Competitive Advantages - The company ranked 9th globally in electronic specialty gas revenue in 2021, according to Linx Consulting [2] - The company has a strong customer base, including well-known semiconductor and panel manufacturers both domestically and internationally, with a focus on the semiconductor sector for NF3 and WF6 [2][8] - The company has developed over 50 proprietary products and has a significant technological advantage in the domestic market, particularly in NF3 and WF6 production [2] Industry Trends and Demand - The semiconductor and panel industries are expected to recover, driving demand for NF3 and WF6, with new customer and product validations exceeding expectations [8][9] - The global electronic specialty gas market is projected to grow, with NF3 and WF6 being key products in the semiconductor manufacturing process [2][8] Risks and Challenges - The report highlights potential risks such as delays in project construction, slower-than-expected capacity ramp-up, and weaker-than-anticipated downstream demand, which could impact the company's performance [29][105][133]

Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [5][13]. Core Views - The company is expected to face short-term pressure on performance due to weak market demand, with projected revenue for 2023 at 1.616 billion yuan, a year-on-year decrease of 17.39% [8][13]. - The company is a leader in the electronic specialty gas industry, with significant advantages in its key products, particularly nitrogen trifluoride and tungsten hexafluoride [9][11]. - The company aims to optimize its industrial layout and become a dominant force in the global electronic specialty gas market, with a focus on expanding its product offerings and enhancing its international market presence [11][13]. Summary by Sections Company Overview - The company has a total market capitalization of 14.7 billion yuan and a circulating market capitalization of 1.8 billion yuan [3]. - The asset-liability ratio stands at 19.5% [4]. Financial Performance - For 2023, the company anticipates a revenue of 1.616 billion yuan and a net profit attributable to shareholders of 335 million yuan, reflecting a decrease of 12.67% year-on-year [7][8]. - The projected revenues for 2024 and 2025 are 2.132 billion yuan and 2.668 billion yuan, respectively, with net profits expected to rise to 439 million yuan and 577 million yuan [13][15]. Market Position and Product Development - The company has a robust production capacity for its main products, with nitrogen trifluoride production capacity at 9,250 tons and tungsten hexafluoride at 2,230 tons, ranking first and second globally, respectively [9][11]. - The company is expanding its product line, with plans to increase the number of products from over 70 to around 100 in the next three years, including new products like hexafluorobutadiene and high-purity hydrogen chloride [11]. Future Outlook - The company is expected to benefit from the growing demand for electronic specialty gases in semiconductor manufacturing, with global demand for nitrogen trifluoride projected to grow from approximately 31,100 tons in 2020 to around 63,700 tons by 2025 [9][11]. - The company is also focusing on developing lithium battery additives, which are anticipated to have significant market potential in the context of the green low-carbon cycle [11].

中船特气（688146.SH）2023 年业绩快报点评 [盈利预测与财务指标 Table_Forcast] ➢ 事件：2 月 28 日，中船特气发布 2023 年度业绩快报公告，2023 年公司实 现营收 16.16 亿元，同比下滑 17.39%；实现归母净利润 3.35 亿元，同比下滑 12.67%；实现扣非归母净利润 2.45 亿元，同比下滑 30.26%。 ➢ Q4 业绩同比承压，环比改善显著。23 年 Q4 单季度公司实现营收 4.17 亿 元，同比下滑 17.26%，环比提升 4.51%；实现归母净利润 0.86 亿元，同比下滑 21.10%，环比提升 11.69%；实现扣非归母净利润 0.77 亿元，同比下滑 19.79%， 环比提升 148.39%，公司经营业绩同比变动的原因主要系：1）受国际形势和宏 观经济环境等因素的影响，公司主要产品电子特种气体下游半导体芯片、液晶显 示行业景气度下滑，市场需求疲软，半导体芯片市场 2023 年全年处于调整期。 2）公司产品价格调整及市场需求疲软导致营业收入减少，同时公司为长远发展， 加大研发投入，研发费用增加，利润有所下降。 ➢ 产能位居全球前列，深受下游 ...

Revenue Composition - The company's revenue is primarily derived from the integrated circuit industry, accounting for approximately 60% [3] - The display panel industry contributes about 25%-30% to the revenue [3] - Other income, including products like trifluoromethanesulfonic acid, accounts for 10%-15% [3] Product Focus and Development - The company specializes in the research, production, and sales of electronic specialty gases, including trifluorine nitrogen and tungsten hexafluoride [4] - Currently, the company offers over 70 product types, with plans to expand to around 100 types in the next three years [4] - Key future products expected to have significant output and value include hexafluorobutadiene, high-purity hydrogen chloride, and deuterium [4] Market Conditions and Challenges - The semiconductor and LCD display industries are experiencing a downturn, leading to a decline in demand for electronic specialty gases [4] - The company's revenue for the first three quarters of 2023 showed a year-on-year decrease due to macroeconomic factors and reduced market demand [4] - Despite a decline in demand, the company is competing in the market with more competitive pricing [4] Future Outlook - The semiconductor industry is projected to see a 12% increase in sales revenue in 2024, reaching $61.4 billion, which may positively impact the company's sales and revenue [5] - Currently, overseas revenue accounts for over 20% of the company's total revenue, with expectations for growth in international market share [5] Product Market Potential - Trifluoromethanesulfonic acid and its derivatives are recognized for their low environmental impact and strong catalytic properties, with applications in pharmaceuticals and chemicals [6] - Lithium salts like bis(trifluoromethanesulfonyl)imide and trifluoromethanesulfonic acid lithium are crucial components in lithium battery electrolytes, enhancing electrochemical stability and performance [6] - The market for lithium battery additives is anticipated to grow significantly due to advancements in green and low-carbon technologies [6]

证券代码：688146 证券简称：中船特气 公告编号：2024-008 中船（邯郸）派瑞特种气体股份有限公司 第一届董事会第二十九次会议决议公告 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、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 中船（邯郸）派瑞特种气体股份有限公司（以下简称"中船特气"或"公司"） 第一届董事会第二十九次会议（以下简称"本次会议"或"会议"）于 2024 年 2 月 26 日在公司会议室以现场与通讯相结合的方式召开。本次会议通知于 2024 年 2 月 23 日通过邮件的方式送达各位董事。本次会议应出席董事 9 人，实际出席 董事 9 人。会议由董事长宫志刚主持，公司部分高管列席会议。会议召集、召开 程序符合有关法律、法规、规章和《公司章程》的规定，会议决议合法、有效。 二、董事会会议审议情况 （一）审议通过《关于提请审议<中船（邯郸）派瑞特种气体股份有限公司 选聘会计师事务所管理办法>的议案》 为了规范选聘会计师事务所行为，提升审计质量，根据相关法律法规，公司 制定了《中船（邯郸）派瑞特种气体股份有限公司选聘会计师 ...

证券代码：688146 证券简称：中船特气 公告编号：2024-007 中船（邯郸）派瑞特种气体股份有限公司 关于全资子公司完成工商设立登记并取得营业执照的公告 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、准确性和完整性依法承担法律责任。 中船（邯郸）特种气体股份有限公司已于 2024 年 2 月 2 日召开了第一届董 事会第二十八次会议，审议通过《关于提请审议组建中船派瑞特种气体（呼和浩 特）有限公司（暂定名）的议案》，同意设立中船派瑞特种气体（呼和浩特）有 限公司（暂定名，最终以市场监督管理部门核准的名称为准）。上述事项已于 2024 年 2 月 22 日经公司 2024 年第一次临时股东大会审议通过。具体内容详见公司分 别于2024年2月3日、2024年2月23日在上海证券交易所网站（www.sse.com.cn） 及指定信息披露媒体披露的《第一届董事会第二十八次会议决议公告》（公告编 号：2024-003）、《中船特气关于对外投资设立全资子公司的公告》（公告编号： 2024-001）及《中船特气 2024 年第一次临时股东大会决议公告》（公告编 ...

本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2024 年 02 月 22 日 证券代码：688146 证券简称：中船特气 公告编号：2024-006 中船（邯郸）派瑞特种气体股份有限公司 2024 年第一次临时股东大会决议公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 二、 议案审议情况 （二） 股东大会召开的地点：河北省邯郸市世纪大街 6 号派瑞科技产业园 9 楼 会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 47 | | --- | --- | | 普通股股东人数 | 47 | | 2、出席会议的股东所持有的表决权数量 | 446,091,538 | | 普通股股东所持有表决权数量 | 446,091,538 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 84.2617 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数 ...