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國瓷材料(300285.SZ):商譽主要是收購王子製陶和愛爾創形成的,預計這兩大部分不會構成風險
格隆匯 06-05 14:20

格隆匯6月5日丨國瓷材料(300285.SZ)於2023年6月2日下午15:00-17:30召開業績説明會,交流環節中,就“請問公司如何看待近三年毛利率下降的問題,另外公司商譽佔比非常高請介紹下構成?”,公司回覆稱,公司原有產品MLCC粉體、氧化鋯粉體、蜂窩陶瓷等都是高毛利產品,去年毛利率下滑較多主要是因為佔比高的MLCC粉體銷量從去年下半年開始市場需求下降較多,這對我們的毛利率影響比較大;另外,去年蜂窩陶瓷下游受到一些影響,導致開工率不足。公司預計隨着開工率的復甦,毛利率也將快速修復。

公司商譽主要是收購王子製陶和愛爾創形成的,這兩部分形成了超過十億的商譽,目前這兩部分都是我們的核心業務,在收入、利潤方面都對上市公司有較多貢獻。公司長期以來非常重視利潤和現金流,預計這兩大部分不會構成風險。未來為了保障高質量發展,公司也將結合資本平台的優勢持續關注戰略併購。

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