证券代码：688333 证券简称：铂力特 西安铂力特增材技术股份有限公司 2023 年年度股东大会会议资料 二〇二四年四月 西安铂力特增材技术股份有限公司 2023 年年度股东大会会议资料 目 录 | 2023 年年度股东大会会议须知 1 | | --- | | 2023 年年度股东大会会议议程 3 | | 议案一：关于公司 2023 年度董事会工作报告的议案 5 | | 议案二：关于公司 2023 年度监事会工作报告的议案 12 | | 议案三：关于公司 2023 年年度报告及摘要的议案 17 | | 议案四：关于公司 2023 年度财务决算报告的议案 18 | | 议案五：关于公司 2023 年度利润分配及资本公积转增股本方案的议案 25 | | 议案六：关于公司申请银行授信及融资的议案 27 | | 议案七：关于续聘会计师事务所的议案 29 | 西安铂力特增材技术股份有限公司 2023 年年度股东大会会议资料 西安铂力特增材技术股份有限公司 2023 年年度股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证股 东大会的顺利进行，根据《中华人民共和国公司法》、《中华人民共 ...

| --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------|--------------| | | | | | 铂力特（688333） | 投资评级 | 买入 | | 2023 年报点评：新质生产力代表，业绩高速增长 | 2024年04月03日 | 维持评级 | | 业绩概要:2023年公司实现营业收入12.3亿元(+34.2%),实现归母净利润 1.42 亿元 | 收盘价(元): | 77.66 | | (+78.1%), 对应 EPS 为 0.89元, 扣非归母净利润 1.06亿元 (+255%)。其中 2023Q4 | | | | 公司实现营业收入4.91亿元 (同比+23.4%,环比+62.0%),实现归母净利润 1.03 亿 ...

Investment Rating - The report assigns a "Buy" rating for the company with a target price of 98.40 CNY over the next six months, based on a current price of 80.06 CNY [1]. Core Insights - The company, Plater (688333), is a leading player in the domestic metal 3D printing industry, focusing on an integrated layout of "materials + equipment + services." In 2023, it achieved a revenue of 1.23 billion CNY, representing a year-on-year growth of 34.2%, and a net profit attributable to shareholders of 140 million CNY, up 78.1% year-on-year [1][2]. Summary by Sections Company Overview - Plater specializes in industrial-grade metal additive manufacturing, with applications in aerospace, energy, transportation, electronics, automotive, and medical sectors. The company has established partnerships with major clients such as AVIC and Airbus, and has a robust R&D infrastructure, including national-level research centers [19][45]. Financial Performance - In Q4 2023, the company reported a revenue of 490 million CNY, a year-on-year increase of 23.4% and a quarter-on-quarter increase of 62.0%. The net profit for the same quarter was 100 million CNY, showing a year-on-year growth of 1.5% and a quarter-on-quarter growth of 396.7% [1][32]. Business Segments - The revenue breakdown for 2023 shows that customized 3D printing products, 3D printing equipment, and 3D printing materials generated 630 million CNY, 530 million CNY, and 60 million CNY, respectively, with year-on-year growth rates of 34.5%, 26.5%, and 99.0% [25][39]. Cost Management - The company has effectively controlled its expenses, with a total expense ratio of 37.0% in 2023, down 13.4 percentage points year-on-year. The gross margin was 49.0%, a decrease of 5.6 percentage points, primarily due to increased outsourcing and depreciation costs [39][56]. R&D and Innovation - Approximately 30% of the company's workforce is dedicated to R&D, with an investment of about 200 million CNY in 2023, marking a 24.5% increase. The company has launched several new products and is progressing with projects aimed at enhancing production capacity [1][45]. Profit Forecast and Valuation - The company is expected to achieve net profits of 320 million CNY, 490 million CNY, and 700 million CNY for 2024, 2025, and 2026, respectively, with a compound annual growth rate of 71% over the next three years. The report assigns a PE ratio of 60 for 2024, indicating a target price of 98.40 CNY [2][56].

证券研究报告·公司点评报告·通用设备 2023 年年报点评：多行业多应用布局，增发 建设智能生产基地 2024 年 03 月 31 日 | --- | --- | --- | --- | --- | --- | |------------------------------|---------|----------|----------|----------|----------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 918.08 | 1,232.39 | 1,803.31 | 2,535.40 | 3,319.50 | | 同比 | 66.32% | 34.24% | 46.33% | 40.60% | 30.93% | | 归母净利润（百万元） | 79.50 | 141.59 | 331.60 | 500.89 | 685.81 | | 同比 | 249.14% | 78.11% | 134.19% | 51.05% | 36.92% | | EPS- 最新摊薄（元 / 股） | 0 ...

Investment Rating - The report maintains a "Buy" rating for the company [11][28]. Core Insights - The company achieved a revenue of 1.23 billion yuan in 2023, representing a year-on-year growth of 34.2%, and a net profit attributable to shareholders of 142 million yuan, up 78.1% year-on-year [3][10]. - The company focuses on industrial-grade metal additive manufacturing (3D printing), providing a complete set of solutions including equipment, product manufacturing, raw materials, and technical services, establishing a comprehensive ecosystem in the metal 3D printing industry [10][30]. - The company is expected to continue its revenue and profit growth in 2024, driven by capacity expansion and reduced share-based payment expenses [10][11]. Financial Performance Summary - In Q4 2023, the company reported a revenue of 491 million yuan, a year-on-year increase of 23.4%, and a net profit of 103 million yuan, up 1.48% year-on-year [3][10]. - The revenue from 3D printing services reached 630 million yuan, growing 34.5% year-on-year, while the revenue from 3D printing equipment was 530 million yuan, up 26.5% year-on-year [4][10]. - The company anticipates net profits of 336 million yuan, 504 million yuan, and 742 million yuan for 2024, 2025, and 2026 respectively, with corresponding PE ratios of 47, 31, and 21 times [11][36]. Business Segment Analysis - The aerospace segment generated 690 million yuan in revenue, growing 8.3% year-on-year, while the industrial segment saw a significant increase of 91.4% to 460 million yuan [4][10]. - The medical sector reported a revenue of 12 million yuan, up 62.3% year-on-year, with a gross margin increase of 10.9 percentage points [4][10]. - Overall, the company experienced growth across all segments in 2023, although the shift towards non-aerospace sectors led to a decline in overall gross margin [4][10].

中信建投证券股份有限公司关于 西安铂力特增材技术股份有限公司 增加使用部分暂时闲置募集资金进行现金管理的核查意见 中信建投证券股份有限公司（以下简称"中信建投"或"保荐人"）作为西 安铂力特增材技术股份有限公司（以下简称"铂力特"或"公司"）2022 年度向 特定对象发行 A 股股票的保荐人，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》《上海证券交易所科创板上市公司自律监管 指引第 1 号——规范运作》和《科创板上市公司持续监管办法（试行）》等有关 规定，对铂力特增加使用部分暂时闲置募集资金进行现金管理进行了审慎核查， 核查情况及核查意见如下： 一、募集资金基本情况 2023 年 7 月 5 日，公司收到中国证监会出具的《关于同意西安铂力特增材技 术股份有限公司向特定对象发行股票注册的批复》（证监许可﹝2023﹞1444 号）， 同意公司向特定对象发行股票的注册申请。 根据信永中和会计师事务所（特殊普通合伙）于 2023 年 12 月 6 日出具的《西 安铂力特增材技术股份有限公司2022年度向特定对象发行A股股票募集资金验资 报告》（XYZH/2023XAAA3B0103），经 ...

中信建投证券股份有限公司关于 西安铂力特增材技术股份有限公司关联交易的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"、"保荐人"）作为 西安铂力特增材技术股份有限公司（以下简称"铂力特"、"公司"）2022 年度向 特定对象发行 A 股股票的保荐人，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》《上海证券交易所科创板上市公司自律监管指引 第 1 号——规范运作》以及《科创板上市公司持续监管办法（试行）》等相关规定， 对铂力特本次关联交易事项进行了审慎核查，具体情况如下： 一、关联交易概述 截止 2024 年 3 月 27 日，公司与陕西华秦科技实业股份有限公司、陕西华秦新 能源科技有限责任公司、河北华秦科技有限责任公司、沈阳华秦航发科技有限责任 公司签订加工合同、采购合同、租赁合同、外协服务合同等金额累计约 302.40 万元。 前述关联交易不构成重大资产重组。 陕西华秦科技实业股份有限公司、陕西华秦新能源科技有限责任公司、河北华 秦科技有限责任公司、沈阳华秦航发科技有限责任公司系股东折生阳控制的公司， 上述关系构成关联关系。 过去 12 个月内公司与同一关联人或与不 ...

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 141,593,578.57 for the fiscal year 2023[6]. - The company achieved operating revenue of CNY 1,232,387,091.29, representing a year-on-year increase of 34.24%[47]. - Net profit attributable to shareholders reached CNY 141,593,578.57, an increase of 78.11% compared to the previous year[47]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 105,644,193.85, reflecting a significant increase of 255.07% year-on-year[47]. - The company's operating revenue for the reporting period was 1.23 billion CNY, reflecting a growth of 34.24% compared to the previous year, with operating profit increasing by 137.02% to 138.61 million CNY[57]. - The company achieved a basic earnings per share of 0.89 CNY, a diluted earnings per share of 0.87 CNY, and a basic earnings per share excluding non-recurring gains and losses of 0.66 CNY, representing increases of 27.14%, 27.94%, and 153.85% respectively compared to the previous year[49][50]. Dividend and Share Capital - The proposed cash dividend distribution is RMB 1.46 per 10 shares, totaling RMB 28,341,540.44[6]. - The board of directors has approved the profit distribution plan, which will be submitted for shareholder approval at the annual meeting[6]. - The company plans to increase its total share capital from 194,120,140 shares to 271,768,196 shares through a capital reserve transfer of 4 shares for every 10 shares held[6]. - The company completed the second vesting period of the 2020 restricted stock incentive plan on September 15, 2023, with a total of 358,680 shares vested, bringing the total share capital to 160,240,535 shares[109]. - On December 26, 2023, the company completed the registration of securities related to the issuance of 32,048,107 A-shares to specific investors, increasing the total share capital to 192,288,642 shares[109]. Research and Development - The company has committed to ongoing research and development in new products and technologies to enhance its market position[7]. - The company's R&D investment accounted for 16.42% of operating revenue, with total R&D expenditure increasing by 24.51% year-on-year[32]. - The company aims to address manufacturing challenges related to lightweight structures and complex geometries through its innovative 3D printing solutions[62]. - The company has developed advanced metal 3D printing technologies, including Selective Laser Melting (SLM) and Wire Arc Additive Manufacturing (WAAM), enhancing its capabilities in customized manufacturing[60][61]. - The company is focusing on expanding its market presence in aerospace, industrial machinery, energy, and medical research sectors, leveraging its metal additive manufacturing technology[61]. Operational Efficiency and Costs - The company's net cash flow from operating activities was CNY -130,639,244.11, indicating a worsening cash outflow compared to CNY -107,524,514.96 in the previous year[47]. - Total operating costs for 2023 were ¥1,097,880,618.34, up from ¥886,292,843.51 in 2022, reflecting a growth of 23.8%[185]. - Management expenses decreased to ¥150,961,826.60 in 2023 from ¥221,012,772.58 in 2022, showing a reduction of 31.6%[185]. - The company has successfully reduced operational costs by L%, contributing to improved profit margins[190]. Risk Management and Compliance - The company has outlined various risks faced during operations in the annual report, emphasizing the importance of investor awareness regarding these risks[4]. - The company emphasizes the importance of compliance with decision-making procedures in its financial disclosures[8]. - The management emphasized the importance of maintaining strong credit risk assessments, with a focus on minimizing bad debt provisions[192]. - The company has not reported any non-operational fund occupation by controlling shareholders or related parties[20]. - The company has not utilized idle raised funds to temporarily supplement working capital[105]. Corporate Governance and Communication - The company emphasizes effective communication with investors and holds regular performance briefings led by the chairman and senior management[128]. - The company has established multiple effective channels for investor communication and actively addresses shareholder inquiries and suggestions[128]. - The company adheres to information disclosure obligations, ensuring fairness and accuracy in its communications with shareholders[127]. - The company has no controlling shareholder, ensuring independence in operations and decision-making[129]. Audit and Financial Reporting - The audit report issued by Xinyong Zhonghe Accounting Firm confirms the accuracy and completeness of the financial statements[5]. - The audit report confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2023[150]. - The management's use of the going concern assumption is deemed appropriate, but there are significant uncertainties that could impact the company's ability to continue as a going concern[199]. - If significant uncertainties are identified, the audit standards require the company to disclose relevant information in the financial statements[199]. - Insufficient disclosures may lead to a non-unqualified audit opinion being issued[199].

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook based on its industry leadership and growth potential [6][11]. Core Insights - The company achieved a revenue of 1.23 billion yuan in 2023, representing a year-over-year increase of 34.3%. The net profit attributable to shareholders was 142 million yuan, up 78.1% year-over-year, while the net profit excluding non-recurring items surged by 255.1% to 106 million yuan [1][11]. - The report highlights the company's comprehensive development across the entire industry chain, including materials, equipment, and services, with significant growth in industrial and research sectors [1][6]. - The company has increased its R&D investment, with R&D expenses rising by 24.5% to 200 million yuan, while the R&D expense ratio decreased by 1.3 percentage points to 16.4% [1][6]. Summary by Sections Financial Performance - In Q4 2023, the company reported a revenue of 490 million yuan, a year-over-year increase of 23.4%, and a net profit of 103 million yuan, up 1.5% year-over-year. The gross margin for Q4 2023 decreased by 3.7 percentage points to 52.4% [1][11]. - For the full year 2023, the gross margin decreased by 5.6 percentage points to 49.0%, while the net margin increased by 2.8 percentage points to 11.5% [1][11]. Product and Industry Analysis - The revenue from customized 3D printing products reached 630 million yuan, growing by 34.5%, while the revenue from 3D printing equipment and services was 530 million yuan, up 26.5% [1][11]. - The aerospace sector generated 690 million yuan in revenue, an increase of 8.3%, while the industrial sector saw a remarkable growth of 91.4% to 460 million yuan [1][11]. Investment Outlook - The company is positioned as a leader in the metal 3D printing solutions market, having established a complete industry chain. The report projects net profits for 2024, 2025, and 2026 to be 330 million, 500 million, and 700 million yuan, respectively, with corresponding price-to-earnings ratios of 48x, 32x, and 23x [1][6].

中信建投证券股份有限公司 关于西安铂力特增材技术股份有限公司 2023 年度募集资金存放与使用情况的专项核查报告 中信建投证券股份有限公司（以下简称"中信建投证券"、"保荐人"）作为 西安铂力特增材技术股份有限公司（以下简称"铂力特"、"公司"）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》 《上市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》等相关 法律法规的规定及要求，对铂力特 2023 年度募集资金的存放和使用情况进行了审 慎核查，情况如下： 一、募集资金基本情况 （一）募集资金金额及到位时间 1、2019 年首次公开发行股票募集资金 经中国证券监督管理委员会"证监许可[2019]1170 号"文《关于同意西安铂力 特增材技术股份有限公司首次公开发行股票注册的批复》，西安铂力特增材技术股 份有限公司（以下简称"公司"）首次公开发行股票并在科创板上市，向社会公开 发行人民币普通股（A 股）20,000,000 股，每股面值人民币 1 元，发行价格为 33.00 元/股，募集资金总额为人民币 660,000,000.00 元，实际募集资金净额为人民币 ...