证券代码：301323 证券简称：新莱福 公告编号：2025-027 广州新莱福新材料股份有限公司 第二届监事会第十次会议决议公告 本公司及监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、误导性陈述或者重大遗漏。 一、监事会会议召开情况 广州新莱福新材料股份有限公司（以下简称"公司"）第二届监事会第十次会议 （以下简称"本次会议"）于 2025 年 4 月 25 日在公司会议室以现场结合通讯方式召 开，会议通知已于 2025 年 4 月 22 日送达给全体监事发出。本次会议应到监事 3 名， 实到 3 名，其中监事蔡兆怀先生以通讯方式参加会议并表决。出席会议人数符合《中 华人民共和国公司法》（以下简称"《公司法》"）和《广州新莱福新材料股份有限公 司章程》（以下简称"《公司章程》"）规定。公司董事会秘书列席本次会议。会议由 公司监事会主席许涛峰主持。 本次会议召集、召开符合《公司法》《公司章程》的有关规定，会议决议合法、 有效。 二、监事会会议审议情况 本次会议以记名投票方式表决，审议了如下议案： （一）审议通过了《关于公司发行股份及支付现金购买资产并募集配套资金暨 关联交易符合相关法律法规 ...

证券代码：301323 证券简称：新莱福 公告编号：2025-026 广州新莱福新材料股份有限公司 第二届董事会第十一次会议决议公告 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、误导性陈述或者重大遗漏。 一、董事会会议召开情况 广州新莱福新材料股份有限公司（以下简称"公司"）第二届董事会第十 一次会议（以下简称"本次会议"）于 2025 年 4 月 25 日在公司会议室以现场 结合通讯方式召开，会议通知已于 2025 年 4 月 22 日送达给全体董事。本次会 议应出席董事 7 名，实际出席董事 7 名，其中独立董事曾德长先生、李辉志先 生和杜丽燕女士以通讯方式参加会议并表决。出席会议人数符合《中华人民共 和国公司法》（以下简称"《公司法》"）和《公司章程》的规定。公司全体 监事、高级管理人员列席本次会议，会议由公司董事长汪小明主持。 本次会议的召集、召开符合《公司法》《公司章程》的有关规定，会议决议合 法、有效。 二、董事会会议审议情况 本次会议以投票方式表决，一致审议通过如下议案： （一）审议通过了《关于公司发行股份及支付现金购买资产并募集配套资 金暨关联交易符合相关法律法规 ...

Investment Rating - The report maintains a "Buy" rating for the company [11][18]. Core Views - The company's stable growth in magnetic materials provides a solid performance foundation, while the doubling of radiation protection materials showcases its competitive cost advantage in lead-free products and first-mover advantage in a blue ocean market. The acquisition of Jin Nan Magnetic Materials is expected to broaden the product range [4][11]. Financial Summary - For the fiscal year 2024, the company achieved revenue of 886 million yuan, a year-on-year increase of 14.9%, and a net profit attributable to the parent company of 145 million yuan, up 5.2% year-on-year. The fourth quarter of 2024 saw revenue of 234 million yuan, a year-on-year increase of 12.7% [5][11]. - The first quarter of 2025 reported revenue of 207 million yuan, a year-on-year increase of 8.6%, but a quarter-on-quarter decrease of 11.7% [11]. - The earnings per share (EPS) for 2025 is revised to 1.61 yuan, down from the previous estimate of 1.77 yuan, with a target price adjusted to 51.52 yuan based on a 32x PE valuation for 2025 [11]. Product Performance - The magnetic adhesive materials segment achieved production and sales of 25.41 million square meters and 24.47 million square meters, respectively, representing year-on-year increases of 12.2% and 8.6%. The electronic ceramic components segment produced and sold 1.66 billion and 1.62 billion units, respectively, with a gross margin of 32.7%, which improved by 3.5 percentage points year-on-year despite adverse raw material price conditions [11]. - The high-energy radiation protection materials segment saw production and sales of 348,000 and 344,000 square meters, respectively, reflecting year-on-year increases of 159% and 152%, with a gross margin of 55.9% [11]. Acquisition Impact - The planned acquisition of 100% equity in Jin Nan Magnetic Materials is expected to significantly enhance the company's product offerings. Jin Nan is the largest and fastest-growing manufacturer of rubber magnets globally, with annual sales exceeding 15,000 tons, capturing over 65% of the global market share [11].

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook based on significant product sales growth and steady progress in new material projects [11][22][29]. Core Insights - The company achieved a revenue of 886 million yuan in 2024, representing a year-on-year growth of 14.9%, and a net profit attributable to shareholders of 145 million yuan, up 5.2% year-on-year [6][18]. - The revenue from radiation protection materials doubled, significantly contributing to overall revenue growth, while the gross profit margin improved to 37.38% [7][19]. - The company is expanding its product offerings, including transparent radiation protection materials, which have broken overseas monopolies, and is developing new projects to create a second growth curve [10][11]. Financial Performance - In Q1 2025, the company reported a revenue of 207 million yuan, an increase of 8.6% year-on-year, but a decline in net profit by 16.0% year-on-year due to rising raw material costs and other operational challenges [8][20]. - The gross profit margin for Q1 2025 was 35.17%, reflecting a decrease compared to the previous year [8][19]. - The company anticipates revenues of 1.11 billion yuan, 1.48 billion yuan, and 2.00 billion yuan for 2025, 2026, and 2027 respectively, with corresponding net profits of 189 million yuan, 260 million yuan, and 368 million yuan [12][22]. Segment Performance - The adsorption functional materials segment generated 600 million yuan in revenue, growing 7.0% year-on-year, while the electronic ceramic components segment saw a 19.0% increase to 153 million yuan [7][14]. - The high-energy radiation protection materials segment achieved a remarkable 112.3% growth in revenue, reaching 72 million yuan, with a gross margin of 55.9% [7][14]. - The other functional materials segment experienced a decline in revenue by 29.6%, totaling 56 million yuan, primarily due to the reclassification of high-energy radiation protection materials [7][14]. Future Outlook - The company plans to accelerate the industrialization of new projects, including MIM precision parts and high-performance magnetic powders, to capture growth in high-demand sectors such as renewable energy and smart wearables [10][11]. - The acquisition of Guangzhou Jinnan Magnetic Materials Co., Ltd. is expected to enhance the company's capabilities in the magnetic materials sector, further strengthening its product portfolio [11][22].

Group 1 - The core viewpoint of the report highlights stable growth in magnetic materials and a significant increase in radiation protection materials, showcasing the company's competitive advantage in lead-free products and its first-mover advantage in a blue ocean market [1][3]. Group 2 - The company maintains a "Buy" rating, projecting a total revenue of 886 million yuan for 2024, representing a year-on-year increase of 14.9%, and a net profit attributable to shareholders of 145 million yuan, up 5.2% year-on-year [2]. - In Q4 2024, the company expects revenue of 234 million yuan, a year-on-year increase of 12.7% but a slight quarter-on-quarter decrease of 0.9%, with a net profit of 38 million yuan, reflecting a year-on-year increase of 15.2% and a quarter-on-quarter increase of 16.2% [2]. - For Q1 2025, the company anticipates revenue of 207 million yuan, a year-on-year increase of 8.6% but a quarter-on-quarter decrease of 11.7%, with a net profit of 30 million yuan, down 16.1% year-on-year and 20.7% quarter-on-quarter [2]. Group 3 - The magnetic materials segment achieved production and sales of 25.41 million square meters and 24.47 million square meters, respectively, in 2024, with year-on-year increases of 12.2% and 8.6% [3]. - The electronic ceramic components segment produced and sold 1.66 billion and 1.62 billion units, respectively, with year-on-year increases of 12.0% and 11.9%, and an overall gross margin of 32.7%, which improved by 3.5 percentage points year-on-year despite adverse raw material price conditions [3]. - The high-energy radiation protection materials segment saw production and sales of 348,000 and 344,000 square meters, respectively, in 2024, with year-on-year increases of 159% and 152%, and a gross margin of 55.9% [3]. Group 4 - The acquisition of Jin Nan Magnetic Materials is expected to broaden the company's product offerings, as Jin Nan is the largest and fastest-growing manufacturer of rubber magnets globally, with annual sales exceeding 15,000 tons and a 65% share of the global market [3].

Core Viewpoint - New Lai Fu (301323) reported a decline in profits for Q1 2024 due to rising raw material costs, factory relocation, and increased expenses, but remains optimistic about future growth driven by cost stabilization, capacity recovery, and innovative projects [2][3][8] Group 1: Financial Performance - In Q1 2024, the company achieved a revenue of 207 million yuan, an increase of 8.59% year-on-year [8] - The net profit attributable to shareholders was 30.47 million yuan, a decrease of 16.05% year-on-year [8] - The gross profit margin stood at 35.17% [8] Group 2: Factors Affecting Profitability - The decline in profit was primarily due to a 15% increase in raw material prices for magnetic powder and a 30% increase for silver powder, alongside significant cost pressures from the MIM project [2] - The relocation of the Bick factory from Huizhou to Guangzhou impacted production capacity, leading to increased unit costs and a drop in gross margin [2] - R&D and share-based payment expenses increased by over 5 million yuan compared to Q1 2023, further burdening costs [2] Group 3: Future Outlook - The company anticipates a gradual alleviation of cost pressures as raw material prices stabilize and product pricing strategies are implemented [3] - With the completion of the Bick factory relocation, production capacity is expected to recover and improve significantly, leading to a potential increase in gross margin [3] - The MIM project is projected to become a new growth driver, aligning with the increasing demand in smart wearables, robotics, and high-end manufacturing [3] - Continuous innovation and R&D investments are expected to expand market opportunities and enhance product competitiveness [3] Group 4: Product Development and Market Strategy - The company has made breakthroughs in lead-free radiation protection materials, focusing on material innovation and process upgrades, with production capacity exceeding 300,000 square meters [4][5] - The company aims to penetrate European and North American markets while also targeting emerging regions like Southeast Asia and the Middle East [5] - New projects, including the second phase of magnetic material construction, are progressing well, with trial production expected to start in April 2025 [3][4] Group 5: Research and Development Progress - The company has successfully developed spherical metal electronic powders with precise customization from 200 nanometers to 10 microns, enhancing its product offerings [7] - The special ultra-fine metal powder project has completed batch testing and is now entering the customer validation phase [7]

Financial Performance - In 2024, the company achieved a revenue of 8.86 billion CNY, a year-on-year increase of 14.94%, and a net profit of 145 million CNY, up 5.17% [1] - The sales revenue from the adsorption functional materials business reached 600 million CNY, growing by 7.05% [1] - The electronic ceramic components business generated a revenue of 153 million CNY, with a growth rate of 19.01% [1][2] - The radiation protection materials business saw a sales revenue of over 72 million CNY, with a significant increase of 112.35% [2] Business Segments Performance - Adsorption functional materials: Shipment volume of 24.47 million square meters, up 8.60% [1] - Electronic ceramic components: Shipment of 1.451 billion units of ring varistors, with sales revenue exceeding 92 million CNY, showing increases of 13.58% and 24.28% respectively [2] - Radiation protection materials: Shipment volume of 340,000 square meters, with a sales revenue increase of 151.71% [2] - Other functional materials (MIM products): Shipment volume of over 62 tons, with sales revenue of over 27 million CNY, a growth of 25.61% [2] R&D and Innovation - R&D expenses reached over 85 million CNY, an increase of 69.38% [2] - The company is focusing on breakthroughs in infrared absorption materials and transparent radiation protection materials, with production expected to start soon [3] - The second phase of the magnetic materials project has a total construction area of over 110,000 square meters, with trial production expected to begin in April 2025 [2] Challenges and Future Outlook - The decline in Q1 2025 profits was attributed to rising raw material prices, factory relocation, and increased costs associated with the MIM project [3] - Raw material prices increased significantly, with magnetic powder prices up over 15% and silver powder prices soaring by 30% [3] - The company remains optimistic about future growth due to expected stabilization of raw material costs and recovery of production capacity [3] - The MIM project is anticipated to become a new growth driver as it aligns with the increasing demand in smart wearables and high-end manufacturing [3] Market Strategy - The company plans to deepen its presence in overseas markets, particularly in Europe and North America, while also targeting emerging regions like Southeast Asia and the Middle East [4] - The focus will be on customized products for key clients in medical, security, and nuclear power sectors, promoting lead-free and lightweight solutions [4]

目 录 一、内部控制审计报告…………………………………………第 1—2 页 内部控制审计报告 天健审〔2025〕5-44 号 广州新莱福新材料股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了广州新莱福新材料股份有限公司（以下简称新莱福公司）2024 年 12 月 31 日的财务报告内部控制的有效性。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于 情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低， 根据内部控制审计结果推测未来内部控制的有效性具有一定风险。 四、财务报告内部控制审计意见 我们认为，新莱福公司于 2024 年 12 月 31 日按照《企业内部控制基本规范》 一、企业对内部控制的责任 按照《企业内部控制基本规范》《企业内部控制应用指引》以及《企业内部 控制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是新莱 福公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表 审计意见，并对注意到的非财务报告内部控制的重大缺 ...

证券代码：301323 证券简称：新莱福 公告编号：2025- 021 广州新莱福新材料股份有限公司 关于部分募集资金投资项目变更实施地点的公告 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、误导性陈述或者重大遗漏。 广州新莱福新材料股份有限公司（以下简称"公司"）于 2025 年 4 月 22 日召开 第二届董事会第十次会议和第二届监事会第九次会议，审议通过了《关于部分募集资 金投资项目变更实施地点的议案》，同意公司将募集资金投资项目（以下简称"募投 项目"）"敏感电阻器产能扩充建设项目"的实施地点由原"公司全资子公司广州新 莱福磁材有限公司（以下简称"磁材公司"）所在地广州市增城区宁西街新科路 1 号" 变更为"公司所在地广州经济技术开发区永和经济区沧海四路 4 号"。保荐机构中信 证券股份有限公司（以下简称"保荐机构"）发表了无异议的核查意见。根据《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》等相关规 定，本次事项属于董事会审批权限范围内，无需提交公司股东大会审议。现将具体情 况公告如下： 一、募集资金基本情况 根据中国证券监督管理委员会《关于同 ...

二、使用自有资金支付募投项目部分款项并以募集资金等额置换的原因 证券代码：301323 证券简称：新莱福 公告编号：2025-020 广州新莱福新材料股份有限公司 关于使用自有资金支付部分募投项目所需资金并 以募集资金等额置换的公告 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、误导性陈述或者重大遗漏。 广州新莱福新材料股份有限公司（以下简称"公司"）于 2025 年 4 月 22 日召开 第二届董事会第十次会议及第二届监事会第九次会议，审议通过了《关于使用自有资 金支付募投项目部分款项并以募集资金等额置换的议案》，同意公司在募投项目的实 施期间，根据实际需要并经相关审批后，先以自有资金方式支付募投项目的相关款项， 后续以募集资金等额置换，定期从募集资金专户划转等额资金至公司非募集资金账 户，该部分等额置换资金视同募投项目使用资金。现将具体情况公告如下： 一、募集资金基本情况 根据中国证券监督管理委员会《关于同意广州新莱福新材料股份有限公司首次公开 发行股票注册的批复》（证监许可〔2023〕527 号），公司于 2023 年 6 月首次公开发行 人民币普通股（A 股）股票 26,2 ...