Financial Performance - The company achieved a revenue of 421 million CNY in the first three quarters of 2023, representing a year-on-year growth of 84.01% [1] - The net profit attributable to shareholders reached 98.17 million CNY, with a significant increase of 160.15% compared to the same period in 2022, marking the best performance in the company's history [1] Growth Drivers - The growth in performance is primarily attributed to the company's continuous expansion in overseas markets and alignment with national dual carbon policies and equipment renewal policies [1] - The company is focusing on international development, leveraging brand technology and overseas market demand analysis to establish new growth engines [2] Order Status - As of the 2024 mid-year report, the company has an order backlog of 515 million CNY, with overseas orders amounting to 230 million CNY, mainly in the coal chemical and petrochemical sectors [2] International Market Presence - The company's products are exported to over 30 countries and regions, including the USA, Canada, Germany, and Japan, supported by a global sales network [2] - The main competitor in the international market is ARVOS Group, but the company maintains a competitive edge through shorter delivery times, quick service response, and superior product quality [2] Future Directions - The company is transitioning from a "product supplier" to a "system integration service provider," aiming to create a comprehensive value chain for clean combustion and efficient heat exchange [2] - Plans include increasing R&D investment and expanding product applications into areas such as sludge treatment and clean coal utilization [2] Shipping Costs - The impact of shipping cost fluctuations on overseas orders is managed through FOB and CIF trade methods, with shipping prices being negotiated prior to shipment under CIF agreements [2] Subsidiary Overview - The company holds a stake in Zhongke Hefei, a national high-tech enterprise that aligns with the dual carbon strategy and has a promising market outlook [3] - Collaboration with Zhongke Hefei is expected to enhance R&D, production, and customer service capabilities through shared innovation and manufacturing strengths [3]

Investment Rating - The report assigns a "Strong Buy" rating to the company with a target price of 20.6 CNY, based on a current price of 17.22 CNY, reflecting a 24x PE for 2024 [1][7]. Core Insights - The report highlights the company as an "invisible leader" in the carbon black equipment manufacturing industry, benefiting from the growth in carbon black demand and increased capital expenditures from carbon black manufacturers [1][5]. - The carbon black industry is experiencing steady growth in production and consumption, with manufacturers' profitability showing an upward trend [1][29]. - The company is transitioning from being an "equipment supplier" to a "comprehensive solution provider," focusing on energy conservation and environmental protection [1][6]. Summary by Sections Company Overview - The company, established in 2004, specializes in energy-saving and environmentally friendly equipment, with a comprehensive product line that includes heat exchange equipment and customized solutions [1][13]. - The company has seen significant revenue growth, achieving 421 million CNY in revenue in the first three quarters of 2024, a year-on-year increase of 84.01%, and a net profit of 98 million CNY, up 160.15% [1][20]. Carbon Black Industry - The carbon black industry is characterized by stable growth in production and consumption, driven by the recovery of the automotive industry and strong demand from tire manufacturers [1][29]. - In July 2024, domestic carbon black consumption reached 437,300 tons, marking a year-on-year increase of 12.08% and a month-on-month increase of 10.41% [1][29]. Equipment Market - The global carbon black production equipment market is projected to grow significantly, with estimates of 5.3 billion CNY in 2024, 6.8 billion CNY in 2025, and 9.0 billion CNY in 2026, reflecting a CAGR of 30.52% [1][7]. - The company is well-positioned to capitalize on the increasing demand for high-quality carbon black products and the need for manufacturers to upgrade their production lines [1][39]. Financial Projections - Revenue projections for the company are 547 million CNY in 2024, 672 million CNY in 2025, and 855 million CNY in 2026, with net profits expected to be 129 million CNY, 161 million CNY, and 201 million CNY respectively [2][7]. - The company's earnings per share (EPS) are forecasted to be 0.86 CNY in 2024, 1.07 CNY in 2025, and 1.34 CNY in 2026 [2][7].

长江证券承销保荐有限公司 关于青岛德固特节能装备股份有限公司 部分募集资金投资项目调整实施进度的核查意见 长江证券承销保荐有限公司（以下简称"长江保荐"）作为青岛德固特节能 装备股份有限公司（以下简称"德固特"或"公司"）首次公开发行股票并在创 业板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《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（2022 年修订）》《深 圳证券交易所创业板股票上市规则（2024 年修订）》《深圳证券交易所上市公司 自律监管指引第 2 号——创业板上市公司规范运作（2023 年 12 月修订）》等有 关规定，现就德固特部分募集资金投资项目调整实施进度的事项进行了核查，并 出具以下核查报告： 一、德固特首次公开发行股票募集资金情况及募投项目基本情况 经中国证券监督管理委员会"证监许可[2021]165 号"文注册，德固特向社 会公开发行人民币普通股（A 股）2,500.00 万股，发行价格为 8.41 元/股，募集 资金总额为 21,025.00 万元，扣除发行费用 3,456.01 万元（不含税）后，募集资 金净额为 17,568.99 万元。募集资金 ...

关于部分募投项目延期的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 证券代码：300950 证券简称：德固特 公告编号：2024-082 青岛德固特节能装备股份有限公司 青岛德固特节能装备股份有限公司（以下简称"公司"）于 2024 年 10 月 21 日召开第五届董事会第二次会议和第五届监事会第二次会议，审议通过了《关于 部分募投项目延期的议案》，同意公司在募投项目实施地点、实施主体、实施方 式、募集资金投资用途及投资规模不发生变更的前提下，对"节能装备生产线技 术改造项目"达到预定可使用状态的时间进行调整，项目达到预计可使用状态的 时间从 2024 年 10 月 31 日延期至 2025 年 10 月 31 日。现将有关事宜公告如下： （一）募投项目延期的具体情况 一、首次公开发行股票募集资金基本情况 经中国证券监督管理委员会《关于同意青岛德固特节能装备股份有限公司首 次公开发行股票注册的批复》（证监许可[2021]165 号）同意注册，公司首次公开 发行人民币普通股（A 股）股票 25,000,000 股，每股面值 1 元，发行价为每股人 民币 ...

证券代码：300950 证券简称：德固特 公告编号：2024-079 青岛德固特节能装备股份有限公司 关于第五届董事会第二次会议决议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 青岛德固特节能装备股份有限公司（以下简称"公司"）第五届董事会第二 次会议于 2024 年 10 月 21 日以现场结合通讯表决的方式在公司会议室召开，会 议通知于 2024 年 10 月 11 日以电子邮件、书面、电话等方式向全体董事发出。 会议由董事长魏振文先生召集并主持，会议应参与表决董事 9 人，实际参与表决 董事 9 人，公司全体监事、高级管理人员列席了本次会议。会议的召集、召开和 表决程序符合《公司法》和《公司章程》的相关规定。 二、董事会会议审议情况 经与会董事认真审议，形成以下决议： 1、 审议通过了《关于部分募投项目延期的议案》 董事会认真审议了《关于部分募投项目延期的议案》，认为部分募投项目延 期是根据项目实施的实际情况作出的审慎决定，不存在改变募集资金用途和损害 股东利益的情形，符合中国证监会、深圳证券交易所关于上市公司募集资金管理 的相关规定。同意公司 ...

Financial Performance - The company's operating revenue for Q3 2024 reached CNY 420,940,907.85, representing an increase of 84.01% compared to CNY 228,761,818.17 in the same period last year[5] - Net profit attributable to shareholders for Q3 2024 was CNY 60,072,929.58, a significant increase of 121.53% from CNY 27,858,151.06 in Q3 2023[2] - The basic earnings per share for Q3 2024 was CNY 0.20, up 400.00% from CNY 0.04 in the same quarter last year[2] - The company's sales revenue increased by 209.91% to approximately CNY 16.31 million, leading to a corresponding profit increase[8] - Operating profit increased to ¥115,035,363.26, up 166.5% from ¥43,269,899.41 in the previous year[15] - Basic and diluted earnings per share for the current period were both ¥0.65, compared to ¥0.25 in the previous period, reflecting a 160.0% increase[16] - Total operating costs for the current period were ¥302,630,152.74, an increase of 57.9% from ¥191,809,781.21 in the previous year[15] - Tax expenses for the current period were ¥16,308,335.61, up from ¥5,262,365.99 in the previous year, indicating a 209.5% increase[15] Assets and Liabilities - The company's total assets as of September 30, 2024, were CNY 1,053,008,931.72, a decrease of 5.61% from CNY 1,115,548,757.18 at the end of the previous year[2] - Total assets decreased to CNY 1,053,008,931.72 from CNY 1,115,548,757.18, a decline of approximately 5.6% year-over-year[13] - Current assets decreased to CNY 609,730,352.66 from CNY 824,624,550.44, representing a decrease of about 26.0%[13] - Non-current assets increased to CNY 443,278,579.06 from CNY 290,924,206.74, an increase of approximately 52.3%[13] - Total liabilities decreased to CNY 310,511,849.41 from CNY 454,544,044.02, a reduction of about 31.6%[14] - The company's equity increased to CNY 742,497,082.31 from CNY 661,004,713.16, reflecting a growth of approximately 12.3%[14] Cash Flow - Cash flow from operating activities for the year-to-date period was CNY 4,494,403.06, a decrease of 115.95% compared to CNY 28,180,292.96 in the same period last year[2] - The net cash flow from financing activities was -32,883,310.44 CNY, compared to -5,644,896.22 CNY in the previous period[18] - Cash and cash equivalents at the end of the period totaled 112,398,182.77 CNY, down from 301,807,044.71 CNY in the previous period[18] - The net increase in cash and cash equivalents was -123,867,830.66 CNY, compared to an increase of 87,594,528.55 CNY in the previous period[18] - The cash inflow from financing activities totaled 10,000,000.00 CNY[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,201, with the largest shareholder, Wei Zhenwen, holding 53.71% of the shares[9] - The company has a strategy to manage its shareholder structure, with significant holdings by key individuals and entities[9] Research and Development - The company’s long-term equity investments increased due to additional investments in R&D projects[5] - Research and development expenses amounted to ¥14,890,006.01, a slight increase of 7.9% compared to ¥13,797,227.10 in the previous period[15] Future Plans - The company plans to expand its market presence and invest in new product development to drive future growth[5] - The company plans to continue expanding its market presence and developing new products and technologies[7] Other Financial Metrics - The company reported a net profit from non-recurring gains and losses of CNY 1,044,934.58 for Q3 2024, compared to CNY 2,434,664.41 in the previous year[4] - Accounts receivable rose significantly, resulting in an increase in bad debt provisions by 5441.62% to approximately CNY -5.50 million[8] - The company's short-term borrowings decreased to CNY 4,191,658.20 from CNY 16,642,151.82, a reduction of approximately 74.8%[14] - Deferred income increased to CNY 21,365,927.26 from CNY 11,140,022.87, reflecting an increase of about 92.0%[14] - Cash inflow from investment activities totaled ¥261,150,426.37, down from ¥562,291,941.76 in the same period last year[17] - Other income for the current period was ¥2,806,920.62, compared to ¥2,215,689.22 in the previous period, reflecting a 26.7% increase[15] Audit and Compliance - The company did not undergo an audit for the third quarter report[18] - The company has not applied the new accounting standards for the current year[18]

证券代码：300950 证券简称：德固特 公告编号：2024-080 青岛德固特节能装备股份有限公司 关于第五届监事会第二次会议决议的公告 一、监事会会议召开情况 青岛德固特节能装备股份有限公司（以下简称"公司"）第五届监事会第二 次会议于2024年10月21日上午在公司会议室以现场方式召开，会议通知于2024 年 10 月 11 日以电子邮件、电话、书面等方式发出。会议应出席监事 3 人，实际 出席监事 3 人。会议由监事会主席郭俊美女士主持，会议的召集、召开和表决程 序符合《公司法》和《公司章程》等有关法律、行政法规、部门规章、规范性文 件的规定。 二、监事会会议审议情况 经与会监事认真审议，形成以下决议： 1、 审议通过了《关于部分募投项目延期的议案》 表决结果：赞成 3 票，反对 0 票，弃权 0 票，审议通过。 2、 审议通过了《关于公司 2024 年第三季度报告的议案》 经审议，监事会认为：董事会编制和审议公司《2024 年第三季度报告》的 程序符合法律、行政法规及中国证监会的规定，报告内容真实、准确、完整地反 映了公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。具体内 容详见公司于 ...

长江证券承销保荐有限公司 关于青岛德固特节能装备股份有限公司 2024 年度定期现场检查报告 根据中国证监会《证券发行上市保荐业务管理办法》和《深圳证券交易所上 市公司自律监管指引第 13 号——保荐业务》等有关法律法规的要求，长江证券 承销保荐有限公司作为青岛德固特节能装备股份有限公司（以下简称"德固特" 或"公司"）首次公开发行股票并在创业板上市的保荐人，于 2024 年 10 月 8 日 至 10 月 9 日对德固特 2024 年度有关情况进行了现场检查，报告如下： | 保荐机构名称：长江证券承销保荐有限公司 被保荐公司简称：德固特 | | | | | --- | --- | --- | --- | | 保荐代表人姓名：王珏 联系电话：021-65779433 | | | | | 保荐代表人姓名：方雪亭 联系电话：021-65779433 | | | | | 现场检查人员姓名：王珏 | | | | | 现场检查对应期间：2024 年度 | | | | | 现场检查时间：2024 年 10 月 8 日-10 月 9 日 | | | | | 一、现场检查事项 | 现场检查意见 | | | | （一）公司治理 ...

（二）培训地点：德固特会议室 （三）培训方式：现场授课 （四）培训对象：德固特实际控制人、董事、监事、高级管理人员以及证券 事务相关人员 （五）培训人员：王珏 长江证券承销保荐有限公司 关于青岛德固特节能装备股份有限公司 2024 年度持续督导培训情况的报告 深圳证券交易所： 长江证券承销保荐有限公司（以下简称"长江保荐"、"保荐机构"）根据《证 券发行上市保荐业务管理办法》《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》等规则要求，对青岛德固特节能装备股份有限公司（以下简称 "德固特"、"公司"）进行了 2024 年度持续督导培训，报告如下： 一、培训基本情况 （一）培训时间：2024 年 10 月 9 日 （本页无正文，为《长江证券承销保荐有限公司关于青岛德固特节能装备股份有 限公司 2024 年度持续督导培训情况的报告》之签字盖章页） 保荐代表人：__________________ __________________ 二、培训内容 鉴于公司已完成董事会、监事会的换届工作并在此基础上聘任了高级管理人 员，长江保荐本次培训先就董事、监事及高级管理人员履职中的要点进行了简要 讲解，并在此基础 ...

证券代码：300950 证券简称：德固特 公告编号：2024-078 青岛德固特节能装备股份有限公司 关于聘任公司高级管理人员及证券事务代表的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 青岛德固特节能装备股份有限公司（以下简称"公司"）于 2024 年 10 月 9 日召开第五届董事会第一次会议，审议通过了《关于聘任公司总经理的议案》、 《关于聘任公司副总经理的议案》、《关于聘任公司董事会秘书兼财务总监的议 案》、《关于聘任公司证券事务代表的议案》，现将具体事项公告如下： 公司董事会同意聘任宋超先生为公司总经理，聘任孟龙先生、高琳琳女士 为公司副总经理，同时聘任高琳琳女士为公司董事会秘书兼财务总监，聘任赵 爽爽女士为公司证券事务代表，任期自本次董事会审议通过之日起至第五届董 事会届满时止。 青岛德固特节能装备股份有限公司 董事会秘书及证券事务代表联系方式如下： 联系人：高琳琳、赵爽爽 电话：0532-82293590 传真：0532-82293590 邮箱：dorightzqb@doright.biz 联系地址：青岛胶州市滨州路 668 号青岛德固特 ...