证券代码：688303 证券简称：大全能源 公告编号：2024-058 新疆大全新能源股份有限公司 关于作废 2022 年限制性股票激励计划部分已授予 但尚未归属的限制性股票的公告 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。 新疆大全新能源股份有限公司（以下简称"公司"）于 2024 年 11 月 14 日召 开第三届董事会第十四次会议、第三届董事会独立董事第二次专门会议及第三届 监事会第十三次会议，审议通过《关于作废 2022 年限制性股票激励计划部分已授 予但尚未归属的限制性股票的议案》，现将相关事项公告如下： 一、 本次股权激励计划已履行的决策程序和信息披露情况 1、2022 年 8 月 10 日，公司召开第二届董事会第二十八次会议，审议通过了 《关于<新疆大全新能源股份有限公司 2022 年限制性股票激励计划（草案）>及其 摘要的议案》《关于<新疆大全新能源股份有限公司 2022 年限制性股票激励计划实 施考核管理办法>的议案》以及《关于提请股东大会授权董事会办理公司 2022 年 限制性股票激励计划相关事宜的议 ...

证券代码：688303 证券简称：大全能源 公告编号：2024-060 新疆大全新能源股份有限公司 第三届监事会第十三次会议决议公告 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、准确性和完整性依法承担法律责任。 新疆大全新能源股份有限公司（以下简称"公司"）第三届监事会第十三次会 议于 2024 年 11 月 14 日以通讯会议方式召开。会议通知已于 2024 年 11 月 11 日 以电子邮件形式送达全体监事。会议应到监事 3 名，实到监事 3 名。会议由监事 会主席阚桂兵先生主持。 本次会议的召集、召开程序均符合《中华人民共和国公司法》等相关法律法 规和《新疆大全新能源股份有限公司章程》的规定。全体与会监事经认真审议， 一致通过以下决议： 一、审议通过《关于作废 2022 年限制性股票激励计划部分已授予但尚未归属 的限制性股票的议案》 监事会认为：公司本次作废 2022 年限制性股票激励计划部分限制性股票符合 有关法律、法规和《新疆大全新能源股份有限公司 2022 年限制性股票激励计划 （草案）》和《新疆大全新能源股份有限公司 2022 年限制性股票 ...

- අනි a Elevit इ 北京市建国门北大街 8 号华润大厦 20 层 邮编：100005 电话: (86.10) 8519.1300 传真：(86.10) 8519.1350 junhebj@junhe.com 北京市君合律师事务所 关于 新疆大全新能源股份有限公司 2022 年限制性股票激励计划 部分限制性股票作废事项 之 法律意见书 君合律师事务所 二零二四年十一月 1 | 正 文… | | --- | | 本次作废的批准与授权 | | 1 Í 本次作废的具体情况 . | | 三、 本次作废的信息披露 . | | 四、 结论意见 | 目 录 2 北京市君合律师事务所 关于新疆大全新能源股份有限公司 2022 年限制性股票激励计划 部分限制性股票作废事项 之法律意见书 致：新疆大全新能源股份有限公司 北京市君合律师事务所（以下简称"本所"）为在北京市司法局注册设立 并依法执业的律师事务所。 本法律意见书仅供大全能源本次作废之目的使用，不得用作任何其他目的。 本所同意将本法律意见书作为大全能源本次作废所必备的法定文件，随其他申 请材料一起上报，并依法对所出具的法律意见承担责任。 根据上述法律、法规、 ...

证券代码：688303 证券简称：大全能源 公告编号：2024-061 新疆大全新能源股份有限公司 第三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、准确性和完整性依法承担法律责任。 新疆大全新能源股份有限公司（以下简称"公司"）于 2024 年 11 月 14 日在 上海市浦东新区张杨路 838 号华都大厦 29 楼 A/J 座会议室以现场结合通讯方式召 开第三届董事会第十四次会议。会议通知已于 2024 年 11 月 11 日以邮件方式送达 全体董事。本次会议应到董事 8 名，实到董事 7 名，独立董事 LIANSHENG CAO（曹 炼生）先生因个人原因未出席本次会议。公司监事及高级管理人员列席本次会议。 会议由董事长徐广福先生召集并主持。 本次会议的召集、召开程序均符合《中华人民共和国公司法》（以下简称《公 司法》）等相关法律法规和《新疆大全新能源股份有限公司章程》（以下简称《公 司章程》）的规定。全体与会董事经认真审议，一致通过以下决议： 一、审议通过《关于作废 2022 年限制性股票激励计划部分已授予但尚未归属的限 ...

Investment Rating - Maintain "Overweight" rating [3][5] Core Views - The company's Q3 net loss narrowed by 572 million yuan compared to Q2, signaling a bottom in profitability [1] - With silicon material prices rebounding since August, the company's gross margin is expected to continue improving [1] - The company maintains a healthy financial position with no interest-bearing debt and ample cash reserves of 14.49 billion yuan [2] Business Performance - Q3 revenue was 1.421 billion yuan, down 60.01% YoY, with a net loss of 429 million yuan, a 162.27% YoY decrease but a 572 million yuan improvement from Q2 [1] - Q3 gross margin turned positive at 9.2%, up from -23.6% in Q2 [1] - Polysilicon production in Q3 was 43,600 tons (75.1% N-type), with sales of 42,100 tons (79.4% N-type) and a production-to-sales ratio of 96.6%, up 30.3 percentage points QoQ [1] - Unit cost increased 6.3% QoQ to 48.83 yuan/kg due to higher fixed costs from reduced production, while cash cost decreased 3.1% to 38.93 yuan/kg due to improved production efficiency [1] Financial Position - The company has no interest-bearing debt and holds 14.49 billion yuan in cash and cash equivalents, including 10.31 billion yuan in structured deposits and time deposits [2] - Total assets stood at 47.77 billion yuan as of Q3 2024, with current assets of 16.35 billion yuan and non-current assets of 31.42 billion yuan [7][8] Industry Outlook - New capacity additions in the silicon material industry have significantly slowed, with many companies maintaining low operating rates to adapt to market changes [2] - Profitability differences among companies are becoming more pronounced, with silicon material prices still in an L-shaped bottoming phase [2] Valuation and Forecast - Revenue forecast for 2024-2026 is 7.4/15.1/16.8 billion yuan, with net profit of -1.4/1.5/2.3 billion yuan [5] - EPS forecast for 2024-2026 is -0.67/0.71/1.09 yuan per share, with P/E ratios of -/44/29x [5] - EBITDA forecast for 2024-2026 is 875/5,018/6,303 million yuan [5]

Investment Rating - The report maintains a "Recommended" rating for the company with a target price of 36.75 CNY, while the current price is 30.85 CNY [1]. Core Insights - The company reported a revenue of 60.05 billion CNY for the first three quarters of 2024, reflecting a year-on-year decrease of 53.37% [1]. - The net profit attributable to the parent company was -10.99 billion CNY, with a net profit margin of -18.31%, showing a year-on-year decline of 121.49% [1]. - The company experienced a significant reduction in losses in Q3 2024, primarily due to a decrease in industry prices and an asset impairment loss of approximately 5.8 billion CNY [1]. - The cash cost continued to decline, reaching 20-21 CNY/kg in Q3 2024, which is a decrease of about 38.93% compared to the previous quarter [1]. - The company expects to achieve a multi-crystalline silicon production volume of 4.2 million tons in 2024, with a stable shipment volume in Q3 [1]. Financial Summary - For 2023, the total revenue is projected at 16,329 million CNY, with a year-on-year growth rate of -47.2% [3]. - The net profit for 2023 is estimated at 5,763 million CNY, with a year-on-year growth rate of -69.9% [3]. - The company’s cash flow from operating activities is expected to be 8,741 million CNY in 2023, with a significant decline projected for 2024 [3]. - The company’s total assets are estimated to be 50,695 million CNY in 2023, with a liability ratio of 13.4% [3].

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook based on its market position and operational efficiency [5]. Core Views - The company's performance in Q1-Q3 2024 showed a significant decline in revenue and net profit, primarily due to an imbalance in supply and demand within the photovoltaic industry, leading to low prices for silicon materials [1][2]. - Despite the challenging market conditions, the company has demonstrated strong cost control capabilities and maintained a high proportion of N-type silicon production, which is crucial for its competitive edge [2]. - The company's cash reserves are robust, totaling 144.9 billion yuan, which is expected to support its operations through the industry cycle [3]. Financial Performance Summary - For Q1-Q3 2024, the company reported revenues of 6.005 billion yuan, a year-on-year decrease of 53.37%, and a net profit attributable to shareholders of -1.099 billion yuan, down 121.49% [1]. - In Q3 2024, the company achieved revenues of 1.421 billion yuan, a decline of 60.01% year-on-year, with a net profit of -429 million yuan, reflecting a year-on-year drop of 162.27% [1]. - The company's cash cost in Q3 2024 was 38.93 yuan/kg, a decrease of 3.1% from the previous quarter, while the unit cost increased to 48.83 yuan/kg, up 6.3% due to reduced production [2]. Future Projections - Revenue projections for 2024-2026 are estimated at 7.394 billion yuan, 13.394 billion yuan, and 16.232 billion yuan, respectively, with net profits expected to be -1.409 billion yuan, 865 million yuan, and 1.680 billion yuan [6]. - The company is expected to achieve a price-to-earnings (PE) ratio of 80x in 2025 and 41x in 2026, indicating a potential recovery in profitability as market conditions improve [3][6].

截止本公告披露日，曹伟先生未直接持有公司股份。曹伟先生任职期间，恪 尽职守、勤勉尽责，为公司的规范治理和良好发展发挥了重要作用，公司及董事 会对其为公司作出的贡献表示衷心感谢。 证券代码：688303 证券简称：大全能源 公告编号：2024-057 新疆大全新能源股份有限公司 关于公司高级管理人员辞职的公告 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。 新疆大全新能源股份有限公司（以下简称"公司"）董事会于近日收到公司副 总经理曹伟先生递交的书面辞职报告。因个人原因，曹伟先生申请辞去公司副总 经理职务。辞任后，曹伟先生将不再担任公司任何职务。 根据《中华人民共和国公司法》等相关法律法规及《新疆大全新能源股份有 限公司章程》的有关规定，曹伟先生辞任副总经理的报告书自送达董事会之日起 生效。曹伟先生所负责的工作已平稳交接，其辞去高管职务不会对公司日常运营 产生不利影响。 特此公告。 新疆大全新能源股份有限公司董事会 2024 年 11 月 1 日 ...

Financial Performance - The company's operating revenue for Q3 2024 was CNY 142,093.27 million, a decrease of 60.01% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was a loss of CNY 42,901.05 million, representing a decline of 162.27% year-over-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was a loss of CNY 47,699.75 million, down 214.47% from the previous year[2]. - The basic earnings per share for Q3 2024 was -CNY 0.20, a decline of 162.50% compared to the same period last year[3]. - The weighted average return on net assets was -1.02%, a decrease of 2.63 percentage points year-over-year[3]. - The total comprehensive income for the third quarter of 2024 was a loss of CNY 1,099,172,599.27, compared to a gain of CNY 5,115,066,876.18 in the same period of 2023[23]. Assets and Liabilities - The company's total assets at the end of Q3 2024 were CNY 4,692,122.13 million, a decrease of 7.44% compared to the end of the previous year[3]. - The company's total assets decreased to CNY 46,921,221,323.28 from CNY 50,695,054,524.79 year-over-year, indicating a decline of 7.4%[20]. - The company's total liabilities decreased to CNY 5,010,288,361.03 from CNY 6,815,809,416.00 year-over-year, representing a reduction of 26.5%[20]. - The total equity attributable to shareholders was CNY 41,910,932,962.25, down from CNY 43,879,245,108.79 in the previous year, reflecting a decrease of 4.5%[20]. Cash Flow - The net cash flow from operating activities for the year-to-date period was -CNY 440,118.76 million, a decline of 143.57% compared to the same period last year[5]. - The company reported a net cash flow from operating activities of -303.25 million RMB after adjustments, indicating challenges in cash generation[16]. - The net cash flow from operating activities for the first three quarters of 2024 is -4,401,187,570.07 RMB, compared to 10,100,526,621.66 RMB in the same period of 2023, indicating a significant decline[25]. - Total cash inflow from operating activities is 3,099,120,601.93 RMB, down from 17,177,695,772.53 RMB year-on-year[25]. - Cash outflow from operating activities increased to 7,500,308,172.00 RMB, compared to 7,077,169,150.87 RMB in the previous year[25]. - The ending balance of cash and cash equivalents is 3,528,959,224.85 RMB, down from 20,654,019,497.56 RMB at the end of the previous year[27]. Production and Sales - In Q3 2024, the company produced 44,000 tons of polysilicon with a sales volume of 42,000 tons, achieving a production and sales rate of 96.6%, a quarter-on-quarter increase of 30.3 percentage points[12]. - The N-type polysilicon production reached 33,000 tons, accounting for 75.1% of total production, with sales also at 33,000 tons, representing 79.4% of total sales[13]. - For the first three quarters of 2024, the total polysilicon production was 170,831 tons, a year-on-year increase of 24.86%, while total sales were 139,170 tons, a slight decrease of 0.66%[14]. Costs and Expenses - Research and development expenses for Q3 2024 amounted to CNY 5,965.05 million, a decrease of 87.42% year-over-year[3]. - Research and development expenses for the first three quarters of 2024 were CNY 30,113,660.01, a decrease of 37.5% compared to CNY 48,216,990.30 in the same period of 2023[21]. - The unit cost of production was 48.83 RMB/kg, a quarter-on-quarter increase of 6.3%, while the unit cash cost decreased by 3.1% to 38.93 RMB/kg due to improved production efficiency[12]. - The average selling price per kilogram (excluding tax) was 33.62 RMB, a decrease of 52.93% compared to the same period last year[14]. Shareholder Information - Daqo New Energy Corp. holds 1,531,718,500 shares, representing 71.41% of total shares[7]. - The company has a total of 41,026 common shareholders at the end of the reporting period[7]. - The top three shareholders hold a combined total of 1,631,341,043 shares, which is approximately 77.03% of the total shares[8]. - The company plans to repurchase shares with a total fund of no less than RMB 200 million and no more than RMB 400 million, with a maximum repurchase price of RMB 50 per share[11]. - As of August 21, 2024, the company repurchased a total of 10,293,488 shares, accounting for 0.48% of the total share capital[11]. - The average repurchase price was RMB 30.58 per share, with a total payment of RMB 314,823,317.17[11]. Other Information - The company attributed the decline in revenue and profit primarily to the continuous drop in polysilicon prices due to supply and demand mismatches[5]. - The total non-recurring gains and losses for Q3 2024 amounted to CNY 4,798.70 million, with significant contributions from the disposal of non-current assets and government subsidies[4]. - The company has not disclosed any related party transactions among the top shareholders[9]. - The repurchase plan is set to be completed within 12 months from the board's approval date[11]. - The company has not participated in any margin trading or securities lending activities during the reporting period[9].

证券代码：688303 证券简称：大全能源 公告编号：2024-054 新疆大全新能源股份有限公司 关于 2022 年限制性股票激励计划第二个归属期 归属条件成就的公告 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。 重要提示： 一、股权激励计划批准及实施情况 （一）本次股权激励计划的主要内容 1、股权激励方式：第二类限制性股票。 2、授予数量（调整后）：1,810.99 万股，占《新疆大全新能源股份有限公司 2022 年限制性股票激励计划（草案）》（以下简称"《激励计划（草案）》"或"本 激励计划"）公告时公司股本总额的 0.85%。 3、授予价格（调整后）：28.98 元，即满足归属条件后，激励对象可以每股 28.98 元的价格购买公司向激励对象定向发行的公司 A 股普通股股票。 4、授予人数（调整后）：649 人 5、限制性股票激励计划的归属安排： 本激励计划有效期为自限制性股票授予日起至激励对象获授的限制性股票全 部归属或作废失效之日止，最长不超过 48 个月。 限制性股票归属前，激励对象获授的限制性股票不得转让、抵 ...