Core Insights - Longhua Technology has successfully completed the conversion of its previously existing convertible bonds worth 800 million yuan, significantly alleviating future financial expense pressures and optimizing its financial performance [1] Financial Performance - The company's asset-liability ratio has been reduced to a low level, indicating a more stable overall financial structure [1] - The health of the company's finances has been greatly improved as a result of these actions [1]

证券代码：300263 证券简称：隆华科技 答：公司于近期发布 2025 年业绩预告，预计全年业绩同比增长 40%-80%， 这一数据充分反映出公司第四季度经营状况实现显著改善。过去公司业绩 出现波动，一定程度上受计提减值等因素影响，2025 年公司重点推进财务 结构优化调整，取得了明显成效：公司此前存续的 8 亿元规模可转债已全 部完成转股，有效化解了大额未来财务费用压力。该笔财务费用虽不影响 公司现金流，但对合并报表利润存在一定影响，此次可转债全部转股，显 著优化了公司财务表现。目前，公司资产负债率已降至较低水平，整体财 务结构趋于稳健，财务健康度得到大幅提升。 未来，公司将持续加强财务管理工作，努力使经营业绩更贴合市场预期， 着力减少业绩大幅波动情况。例如，针对计提减值相关事项，公司将进一 步强化过程管理，在发现相关减值迹象时，及时开展评估工作，并将减值 金额适度分摊至各报告期，确保业绩表现的平稳性，这也是公司财务工作 后续持续努力的核心方向。 隆华科技集团（洛阳）股份有限公司 投资者关系活动记录表 1 编号：2026－001 投资者关系活动 类别 √特定对象调研 □分析师会议 □媒体采访 □业绩说明会 ...

Summary of Conference Call Notes Company Overview - **Company**: 隆华科技 (Longhua Technology) - **Industry**: Aerospace and New Materials Key Points and Arguments - **Performance Forecast**: 隆华科技 has released a high growth performance forecast, expecting to maintain a high growth trend in 2026 [1] - **Aerospace Business**: The company has already supplied products related to commercial aerospace, including rocket fairings, which are noted for their strong competitiveness [2][3] - **Material Applications**: The company's PMI foam is used as a core material in composite sandwich structures, widely applied in helicopters, drones, radar covers, and fairings in the aerospace sector [2][4] - **Strategic Partnerships**: 隆华科技 has a close partnership with China Aerospace Group, providing a significant competitive advantage due to qualification barriers [4] - **Market Potential**: The reference value of the Starship fairing is approximately $8 million, while the domestic Long March series rocket fairing value ranges from $10 million to $40 million. Assuming a launch frequency of 1,000 times by 2030, the fairing market size could reach approximately 10 billion to 40 billion [4] - **Revenue Projections**: The PMI business is projected to generate approximately 150 million in revenue by 2025, with a gross margin exceeding 70%. The company's capacity is expected to double in 2026, capitalizing on the aerospace industry's growth [4] - **Target Material Business**: The company is deeply involved in the electronic information target material sector and also covers the perovskite (ITO) new energy field, with close collaborations with BOE and Huaxing Optoelectronics. The rapid development of SpaceX's solar photovoltaic plans is expected to benefit the company's ITO target materials [4] - **Growth Rate**: The revenue from target materials and ultra-high temperature materials is projected to be around 800-900 million by 2025, accounting for 25-30% of total revenue, with a compound annual growth rate exceeding 30% over the past three years [4] Additional Important Information - **Lithium Extraction Agents**: The company’s subsidiary, Sanuo New Materials, is a domestic professional producer of rare metal extraction agents. The current production capacity is 60,000 tons, and since Q4 2025, lithium carbonate prices have been on the rise, currently exceeding 180,000 per ton. This price increase is expected to significantly enhance the penetration rate of the company's extraction agents in lithium extraction from salt lakes [5] - **Revenue from Extraction Agents**: Revenue from extraction agents is projected to be around 200-300 million by 2025, with explosive growth anticipated in 2026 as capacity is released and downstream application prices recover [5] - **Traditional Business Stability**: The company’s energy-saving heat exchange equipment and environmental water treatment businesses have remained stable, contributing approximately 40-50% of total revenue, with single-digit growth in recent years [5] - **Overall Performance Guidance**: The company expects to achieve approximately 210 million in revenue by 2025 and 380 million in 2026, with new material businesses providing performance elasticity and the aerospace sector presenting new opportunities [5]

数据宝统计，截至13:56，隆华科技成交额13.30亿元，创2021年8月6日以来新高。最新股价上涨 0.09%，换手率12.33%。上一交易日该股全天成交额为10.15亿元。（数据宝） （文章来源：证券时报网） ...

近日，隆华科技（300263）发布2025年度业绩预告，公司预计2025年归母净利润1.85亿元至2.35亿元， 同比增长41.18%-79.33%；扣非净利润预计1.6亿元至2.1亿元，同比增长38.32%-81.55%。 对于业绩变动原因，隆华科技表示，公司经营情况稳健发展，核心产品竞争力不断提升，销售规模持续 增长，使得归属于上市公司股东的净利润及扣除非经常性损益后的净利润较上年同期实现稳健增长。 (王珞) ...

证券日报网讯 1月23日，隆华科技发布公告称，公司预计2025年度归属于上市公司股东的净利润为18， 500.00万元～23，500.00万元，比上年同期增长41.18%～79.33%。 （文章来源：证券日报） ...

Core Insights - The rare earth market is experiencing slight price adjustments, with specific products showing mixed trends in pricing [1] - Market sentiment indicates a majority of participants are neutral, with a slight increase in bullish sentiment compared to the previous week [1] - Factors influencing price movements include pre-holiday stockpiling by downstream magnetic material companies, logistics slowdowns due to the upcoming Spring Festival, and essential procurement by metal manufacturers [1] Price Summary - Praseodymium and Neodymium oxide average price is 672,400 CNY/ton, up by 800 CNY/ton [1] - Praseodymium and Neodymium metal average price is 810,100 CNY/ton, up by 500 CNY/ton [1] - Dysprosium oxide average price is 1,430,600 CNY/ton, down by 2,700 CNY/ton [1] - Terbium oxide average price is 6,314,500 CNY/ton, down by 10,100 CNY/ton [1] Market Sentiment - Last week, approximately 23% of market participants were bullish, 14% bearish, and 62% neutral, aligning with current market conditions [1] - This week, bullish sentiment has increased to 25%, while bearish sentiment has decreased to 11% [1] Influencing Factors - Price fluctuations are primarily driven by three factors: pre-holiday stockpiling by downstream companies, logistics slowdowns due to the Spring Festival, and essential procurement by metal manufacturers [1] - The current tight supply of praseodymium and neodymium oxide and metal suggests limited room for price corrections [1] - It is anticipated that mainstream product prices will continue to fluctuate before the holiday, with potential short-term price pressure due to traders liquidating inventory for cash before the holiday [1] Stock Performance - Selected rare earth permanent magnet concept stocks show varied performance: - Yujing Co., Ltd. (002943) latest price: 66.31 CNY, change: +0.01%, turnover: 176 million CNY [1] - Longhua Technology (300263) latest price: 10.54 CNY, change: +7.55%, turnover: 1.015 billion CNY [1] - Grinmei (002340) latest price: 9.66 CNY, change: +6.62%, turnover: 3.981 billion CNY [1] - Hengdian East Magnetic (002056) latest price: 21.85 CNY, change: +6.17%, turnover: 1.319 billion CNY [1] - Ashi Chuang (300706) latest price: 39.08 CNY, change: +5.71%, turnover: 572 million CNY [1]

格隆汇1月23日丨隆华科技(300263.SZ)公布，预计2025年归属于上市公司股东的净利润18,500.00万元～ 23,500.00万元，比上年同期增长41.18%～79.33%，扣除非经常性损益后的净利润16,000.00万元～ 21,000.00万元，比上年同期增长38.32%～81.55%。 报告期内，公司经营情况稳健发展，核心产品竞争力不断提升，销售规模持续增长，使得归属于上市公 司股东的净利润及扣除非经常性损益后的净利润较上年同期实现稳健增长。 ...

新京报贝壳财经讯1月23日，隆华科技（300263）公告，预计2025年度归属于上市公司股东的净利润为 1.85亿元到2.35亿元，同比增长41.18%到79.33%。扣除非经常性损益后的净利润为1.6亿元到2.1亿元， 同比增长38.32%到81.55%。报告期内，公司经营情况稳健发展，核心产品竞争力不断提升，销售规模 持续增长，使得归属于上市公司股东的净利润及扣除非经常性损益后的净利润较上年同期实现稳健增 长。 ...

隆华科技公告，预计2025年度归属于上市公司股东的净利润为1.85亿元到2.35亿元，同比增长41.18%到 79.33%。扣除非经常性损益后的净利润为1.6亿元到2.1亿元，同比增长38.32%到81.55%。报告期内，公 司经营情况稳健发展，核心产品竞争力不断提升，销售规模持续增长，使得归属于上市公司股东的净利 润及扣除非经常性损益后的净利润较上年同期实现稳健增长。 ...