Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company reported a revenue of 330 million yuan for H1 2025, representing a year-over-year growth of 16.26%, while the net profit was 50.47 million yuan, growing by 7.81% year-over-year. The revenue growth outpaced profit growth due to increased focus on the domestic market, which has a lower gross margin [4][7] - The company is diversifying its operations into advanced fields such as liquid cooling and robotics, aiming to establish itself as a platform company for ultrasonic sensors rather than just an automotive parts manufacturer [7] Financial Data and Profit Forecast - Total revenue projections for the company are as follows: - 2024: 617 million yuan - 2025E: 748 million yuan - 2026E: 896 million yuan - 2027E: 1,043 million yuan - The expected net profit for the years is: - 2025E: 104 million yuan - 2026E: 123 million yuan - 2027E: 144 million yuan - The gross margin is projected to improve from 35.4% in H1 2025 to 37.3% by 2027 [6][9]

Summary of Audiwei's Conference Call Company Overview - **Company**: Audiwei - **Industry**: Sensor and Actuator Technology Key Financial Performance - **Revenue Growth**: 2025 H1 revenue increased by 16.26% year-on-year, reaching 330 million CNY [2][20] - **Net Profit**: Net profit rose by 7.8% to 50.47 million CNY, with a non-recurring net profit growth of 12% [2][20] - **Cash Flow**: Operating cash flow surged by 73.07% [2][20] - **Gross Margin**: Gross margin stood at 35.42% [4][20] - **R&D Investment**: R&D expenses grew by 12.29%, accounting for 8.08% of revenue [2][5] Business Segmentation - **Sensor Business**: Contributed 83.51% of total revenue, with a 29% year-on-year growth driven by smart driving, industrial control instruments, and robotics [7][23] - **Actuator Business**: Accounted for 13.26% of total revenue, facing a decline due to reduced demand in electroacoustic devices and overseas security orders [7][26] R&D and Technological Advancements - **Core Technologies**: Focus on smart sensors and actuators, including sensitive materials, transducer chips, and intelligent algorithms [8][10] - **New Applications**: Expansion into AI server liquid cooling systems, underwater robots, and lawn mowing robots [2][17] - **Liquid Cooling Technology**: Achieved breakthroughs with dynamic management and vortex technology, targeting a gross margin of 40%-50% [2][28][32] Market Strategy and Future Outlook - **Five-Year Strategy**: Aim to become a major player in the international market, enhancing AI capabilities and extending product lifecycles [3][22] - **Export Market**: Approximately 40%-50% of business comes from exports, with a focus on simultaneous development in domestic and international markets [9] Emerging Trends and Applications - **AI Integration**: Products are evolving towards digitalization, intelligence, integration, and miniaturization to meet AI embedding needs [21][10] - **New Product Development**: Introduction of micro jet fans and pumps for electronic wearables, and liquid cooling sensors for AI systems [14][27] Challenges and Risks - **Actuator Business Decline**: The actuator segment is experiencing a downturn due to cyclical demand and external factors like tariffs [26] - **Market Environment**: The company is adapting to changing procurement strategies from clients, moving towards just-in-time ordering [26] Conclusion - **Overall Performance**: Audiwei's financial health appears robust with significant growth in revenue and cash flow, although challenges in the actuator segment and market conditions warrant close monitoring [20][26]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company achieved a revenue growth of 16% in the first half of 2025, with diversified expansion into new fields such as medical, consumer electronics, and robotics [5][8] - The company's sensor revenue increased by 29%, while actuator revenue decreased by 33.16% due to reduced demand in the overseas security market [8] - The company is focusing on domestic market expansion, with domestic revenue growth of 30% in the first half of 2025 [8] - The company is actively investing in R&D, with a 12% increase in R&D expenses, indicating a commitment to innovation and product upgrades [8] Financial Summary - Revenue projections for 2025 are estimated at 753 million yuan, with a year-on-year growth rate of 21.99% [7] - The net profit attributable to the parent company is projected to be 98 million yuan in 2025, reflecting a growth rate of 11.77% [7] - The earnings per share (EPS) is expected to be 0.69 yuan in 2025, with a projected price-to-earnings (P/E) ratio of 47.76 [7] - The company maintains a low debt-to-asset ratio of 11.27%, indicating a strong financial position [3]

证券代码：832491 证券简称：奥迪威 公告编号：2025-058 广东奥迪威传感科技股份有限公司 关于使用闲置募集资金进行现金管理的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 授权现金管理情况 为提高募集资金使用效率，增加暂时闲置资金的收益，公司于 2025 年 3 月 24 日召开第四届董事会第十四次会议、第四届监事会第十二次会议，审议通过 《关于使用闲置募集资金进行现金管理的议案》，同意公司在确保不影响募集资 金投资项目正常实施以及确保募集资金安全的前提下，使用额度不超过 1.9 亿元 暂时闲置的募集资金进行现金管理，投资的产品品种为结构性存款、大额存单、 通知存款、协定存款等安全性高、流动性好、可以保障投资本金安全的银行理财 产品。在上述额度范围内资金可以循环滚动使用，期限最长不超过 12 个月。 公司董事会授权董事长行使相关投资决策权并签署相关文件，财务负责人负 责具体组织实施及办理相关事宜。本次使用暂时闲置的募集资金进行现金管理事 项自董事会审议通过之日起一年内有效。 ...

证券代码：832491 证券简称：奥迪威 公告编号：2025-057 经中国证券监督管理委员会于 2022 年 5 月 12 日出具的《关于同意广东奥迪 威传感科技股份有限公司向不特定合格投资者公开发行股票注册的批复》（证监 许可﹝2022﹞979 号），公司向不特定合格投资者公开发行人民币普通股（A 股） 3,130.4348 万股，发行价格为人民币 11.00 元/股，发行募集资金总额为人民币 344,347,828.00 元，扣除与发行有关的费用人民币 46,453,650.72 元（不含税）， 实际募集资金净额为人民币 297,894,177.28 元。2022 年 6 月 6 日，立信会计师事 务所（特殊普通合伙）已对公司公开发行股票的募集资金到位情况进行了审验， 并出具信会师报字[2022]第 ZC10296 号验资报告。 （二）本报告期使用金额及结余情况 | 项目 | 金额 | | --- | --- | | 一、募集资金总额 | 344,347,828.00 | | 发行费用 | 46,453,650.72 | | 募集资金净额 | 297,894,177.28 | | 二、募集资金账户利息收 ...

证券代码：832491 证券简称：奥迪威 公告编号：2025-054 广东奥迪威传感科技股份有限公司 5.会议主持人：蔡锋 第四届监事会第十五次会议决议公告 本公司及监事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 8 月 25 日 2.会议召开地点：公司会议室 3.会议召开方式：现场及通讯表决 4.发出监事会会议通知的时间和方式：2025 年 8 月 22 日以书面方式发出 年半年度报告摘要》（公告编号：2025-056）。 1.议案内容： 6.召开情况合法、合规、合章程性说明： 根据《上市公司募集资金监管规则》《北京证券交易所股票上市规则》《北京 证券交易所上市公司持续监管指引第 9 号—募集资金管理》《广东奥迪威传感科 技股份有限公司募集资金专项存储及使用管理制度》等有关规定，公司编制了 本次会议的召集、召开符合《公司法》、《公司章程》等相关规定。 （二）会议出席情况 会议应出席监事 3 人，出席和授权出席监事 3 人。 二、议案审 ...

证券代码：832491 证券简称：奥迪威 公告编号：2025-053 广东奥迪威传感科技股份有限公司 第四届董事会第十七次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 8 月 25 日 2.会议召开地点：公司会议室 3.会议召开方式：现场及通讯表决 4.发出董事会会议通知的时间和方式：2025 年 8 月 22 日以书面方式发出 5.会议主持人：董事长张曙光 6.会议列席人员：公司监事及高级管理人员 7.召开情况合法、合规、合章程性说明： 本次会议的召集、召开符合《公司法》、《公司章程》等相关规定。 （二）会议出席情况 会议应出席董事 7 人，出席和授权出席董事 7 人。 二、议案审议情况 （一）审议通过《关于 2025 年半年度报告及摘要的议案》 1.议案内容： 根据《公开发行证券的公司信息披露内容与格式准则第 54 号——北京证券 交易所上市公司中期报告》《北京证券交易所股票上市规则》等相关规定，结合 公司 ...

Group 1 - The core point of the article highlights the financing activities of Audiwei, indicating a net buying trend in recent trading days [1] - On August 21, Audiwei had a financing purchase amount of 0.18 billion, ranking 1146th in the market, with a financing repayment amount of 0.11 billion, resulting in a net purchase of 6.9336 million [1] - Over the last three trading days (August 18-21), Audiwei received financing purchases of 0.38 billion, 0.18 billion, and 0.18 billion respectively [1] Group 2 - In terms of securities lending, on the same day, there were no shares sold or net sold for Audiwei [2]

Group 1 - The core point of the news is that Audiwei has seen significant financing activity, with a net buy of 10.97 million yuan on August 18, 2023, indicating investor interest [1] - Over the last three trading days from August 14 to August 18, Audiwei received financing purchases of 0.09 billion yuan, 0.08 billion yuan, and 0.38 billion yuan respectively, showing a trend of increasing financing [1] - On the same day, there were no short-selling activities reported for Audiwei, with both sell and net sell figures at zero [2]

Core Viewpoint - The North Exchange 50 Index has seen a significant increase, rising over 5% and reaching a new historical high [1] Group 1 - The stock of Shuguang Digital has surged over 29% [1] - Companies Audiwei and Aweit have both experienced gains exceeding 10% [1]