Suzhou Betely Polymer Materials 贝特利
20 significant filings since 31 May 2026: 20 on new listing. The latest, on 31 Aug 2026: 首次公开发行股票并在创业板上市之上市公告书. On 25 Aug 2026 the company said it expects net profit for the period ending 30 Sep 2026 to rise by 31.56% to 50.35% from the same period a year earlier.
自 31 May 2026 起有 20 份重大公告：new listing 20 份。最新一份（31 Aug 2026）：首次公开发行股票并在创业板上市之上市公告书。25 Aug 2026 公司预告截至 30 Sep 2026 的净利润较上年同期上升 31.56% 至 50.35%。
As of 25 Sep 2026 截至2026年9月25日
Suzhou Betely Polymer Materials, listed on the Shenzhen Stock Exchange as 301697, operates in the solar power equipment industry and was listed on 1 Sep 2026. The company reported revenue of RMB3.65bn in 2025, up 44.6% from RMB2.52bn in 2024, with attributable net profit rising 19.0% to RMB116.1m. Profit quality remains a concern, as operating cash flow per share was -RMB2.05 in 2025, compared to -RMB0.83 in 2024, resulting in an operating cash flow to net profit ratio of -3.47x. Despite strong revenue and profit growth, the persistent cash outflow from operations signals pressure on liquidity. At 30 Jun 2026, the company's liabilities to assets ratio was 48.2%, with a current ratio of 1.65, indicating moderate short-term solvency. Recent performance for the first half of 2026 shows accelerated growth, with revenue up 116.9% and net profit up 105.4%, though cash outflows continue. The actual controller is 王全, who also holds 27.94% as the largest shareholder.
贝特利（深圳证券交易所301697）属于光伏设备行业，于2026年9月1日上市。2025年营业收入为36.46亿元，较2024年的25.21亿元同比增长44.6%；归母净利润为1.16亿元，同比增长19.0%。但经营现金流持续为负，2025年每股经营现金流为-2.05元，2024年为-0.83元，经营现金流与净利润之比为-3.47倍，显示盈利质量承压。截至2026年6月30日，资产负债率为48.2%，流动比率为1.65，短期偿债能力尚可。2026年上半年收入同比增长116.9%至29.21亿元，归母净利润同比增长105.4%至9,499.8万元，但经营现金流仍为-1.24元。实际控制人及第一大股东为王全，持股27.94%。
| Flag 标记 | Risk 风险 | Mechanism 影响机制 |
|---|---|---|
| Operating cash outflow 经营现金净流出 | The company faces sustained operating cash outflows. 公司面临持续的经营现金流净流出。 | Operating cash flow per share was -RMB2.05 in 2025 and -RMB1.24 in the first half of 2026, indicating that core operations are consuming cash rather than generating it. This weakens liquidity and increases reliance on external financing. 2025年每股经营现金流为-2.05元，2026年上半年为-1.24元，表明主营业务持续消耗现金而非产生现金，削弱流动性，增加对外部融资的依赖。 |
- The operating cash flow per share for the full year 2026.
2026全年每股经营现金流。 - Whether the attributable net profit for the period to 30 Sep 2026 falls within the forecast range of +32% to +50%.
截至2026年9月30日的归母净利润是否落在+32%至+50%的预告区间内。 - The receivable days and inventory days as of 31 Dec 2026.
截至2026年12月31日的应收账款周转天数和存货周转天数。 - Any update on share pledges or judicial actions involving 王全.
关于王全所持股份质押或司法冻结的任何更新。 - The disclosure of the largest consideration in recent equity transfers.
近期股权交易中最大对价的披露情况。 - The next filing on acquisitions or equity transfers.
下一次关于收购或股权转让的公告。
- Company: Suzhou Betely Polymer Materials 贝特利, Shenzhen Stock Exchange 301697; industry Solar Power Equipment; listed 1 Sep 2026.
公司：贝特利，深圳证券交易所 301697；行业：光伏设备；上市日期：2026年9月1日。 - Close on 24 Sep 2026 RMB30.08.
2026年9月24日收盘价30.08元。 - 52-week range RMB24.63 to RMB35.90.
52周区间24.63元至35.90元。 - In the last 12 months 1 trading days closed 9% or more above or below the day before (all days, not only this year). The 1 most recent of them: 2 Sep 2026 -10.6%.
近12个月共有1个交易日收盘涨跌幅达9%及以上（为全部交易日，不限于今年）。其中最近1个：2026年9月2日 -10.6%。 - Market capitalisation RMB7.90bn; P/E TTM 48.0; price to book 6.31x.
总市值79.02亿元；市盈率（TTM）48.0；市净率6.31倍。 - Revenue 2025 RMB3.65bn; 2024 RMB2.52bn; change +44.6%.
营业收入2025年36.46亿元；2024年25.21亿元；同比+44.6%。 - Attributable net profit 2025 RMB116.1m; 2024 RMB97.5m; change +19.0%.
归属于母公司股东的净利润2025年1.16亿元；2024年9,750.0万元；同比+19.0%。 - Net profit excluding non-recurring items, 2025 change +38.2%.
2025年扣除非经常性损益后的净利润同比+38.2%。 - Basic EPS 2025 RMB0.59; 2024 RMB0.49.
基本每股收益2025年0.59元；2024年0.49元。 - Operating cash flow per share 2025 -RMB2.05; 2024 -RMB0.83; operating cash flow to net profit -3.47x.
每股经营现金流2025年-2.05元；2024年-0.83元；经营现金流与净利润之比-3.47倍。 - 2025 gross margin 10.0%; net margin 3.2%; ROE 14.8%.
2025年毛利率10.0%；净利率3.2%；净资产收益率14.8%。 - At 30 Jun 2026: liabilities to assets 48.2%; current ratio 1.65; quick ratio 1.42; receivable days 35; inventory days 12.
截至2026年6月30日：资产负债率48.2%；流动比率1.65；速动比率1.42；应收账款周转天数35；存货周转天数12。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB2.92bn, change +116.9%; attributable net profit RMB95.0m, change +105.4%; operating cash flow per share -RMB1.24.
截至2026年6月30日的报告期（六个月，不可与上述全年数据直接比较）：营业收入29.21亿元，同比+116.9%；归母净利润9,499.8万元，同比+105.4%；每股经营现金流-1.24元。 - Pre-announcement of 25 Aug 2026 for the period to 30 Sep 2026: attributable net profit change +32% to +50%.
2026年8月25日发布的截至2026年9月30日业绩预告：归母净利润同比+32%至+50%。 - Ownership: actual controller 王全; largest holder at 1 Sep 2026: 王全, 27.94%.
股权：实际控制人：王全；2026年9月1日第一大股东：王全，持股27.94%。 - No distribution is held in this database, which begins on 1 Jan 2026; earlier distributions are not shown.
本数据库自2026年1月1日起记录，其中无该公司的分配记录；此前的分配未予显示。 - Acquisitions and equity transfers filed in the last 12 months: 2; largest consideration not shown.
近12个月披露的收购与股权转让：2项；最大对价未披露。 - Aurelian Grade B, score 70.4 of 100, graded within a peer group of 69 companies in its industry; no rank among peers is given.
金源评级B，得分70.4（满分100），于行业同业69家中评定；未提供其在同业中的排名。 - Not held for this report: receivable ageing, litigation case amounts, the order book, the auditor's opinion and key audit matters, segment revenue.
本报告未掌握：应收账款账龄、诉讼案件金额、在手订单、审计意见及关键审计事项、分部收入。