Investment Rating - The automotive sector is rated as "Overweight" with a recommendation to increase holdings in specific stocks [1][48]. Core Insights - The automotive sector experienced a 3.08% increase from March 3 to March 7, 2025, outperforming the CSI 300 index by 1.69 percentage points [9][37]. - The passenger vehicle retail sales in February are expected to reach 1.4 million units, reflecting a year-on-year growth of 26% but a month-on-month decline of 22% [6][39]. - The release of Geely's "Qianli Haohan" intelligent driving system marks a significant advancement in high-level autonomous driving technology [3][39]. Summary by Sections Market Performance - The automotive sector's performance includes a 0.68% increase in the passenger vehicle segment, a 1.42% increase in the commercial vehicle segment, and a 2.67% increase in the truck segment, while the bus segment saw a decline of 0.89% [9][37]. - The automotive parts sector rose by 5%, and the automotive services sector increased by 2.21%, both outperforming the CSI 300 index [9][37]. Valuation Levels - As of March 3, 2025, the automotive industry's PE-TTM stands at 28.92, up by 0.81 from the previous week [10][38]. - The valuations for sub-sectors are as follows: passenger vehicles at 31.53, commercial vehicles at 37.02, and parts at 25.96 [10][38]. New Developments - Geely's "Qianli Haohan" system includes features like high-speed NOA and automatic parking, with plans for a large-scale rollout in March 2025 [3][39]. - In February, the wholesale of passenger vehicles reached 1.781 million units, a 35% year-on-year increase [6][39]. Raw Material Prices - As of March 7, 2025, the prices for key raw materials are as follows: aluminum index at 20,847.07, copper index at 78,223.6, rebar index at 3,266.92, and rubber index at 17,431.15, with respective weekly changes of 0.93%, 1.8%, -2.2%, and -1.8% [19][38].

Investment Rating - The investment rating for the company is "Outperform" (maintained) [2] Core Views - The company is expected to achieve a revenue of 617 million yuan in 2024, representing a year-on-year growth of 32.15%, with a net profit of 89 million yuan, up 15.60% [2] - The company is focusing on expanding its applications in robotics and sensor technologies, which are anticipated to open new growth avenues [4] - The automotive sector, particularly in smart driving and smart cockpit technologies, is a significant area for the company's product applications, with the Chinese electric vehicle market projected to exceed 10 million units in 2024 [3] Financial Summary - The company forecasts revenues of 617 million yuan for 2024, with a growth rate of 32.1% compared to 2023 [6] - The projected net profit for 2024 is 89 million yuan, with an expected growth of 15.6% [6] - Earnings per share (EPS) are expected to be 0.63 yuan in 2024, increasing to 0.79 yuan in 2025 and 0.98 yuan in 2026 [2][6] - The price-to-earnings (P/E) ratio is projected to be 57.6 for 2024, 46.1 for 2025, and 37.1 for 2026 [2][6] Market Trends - The Chinese automotive industry is expected to see record production and sales in 2024, with smart driving and smart cockpit applications being key growth areas for the company [3] - The company has successfully delivered its self-developed AKⅡ vehicle-mounted ultrasonic sensors, which meet safety requirements and are compatible with advanced autonomous driving levels [3]

Financial Performance - The company achieved total operating revenue of ¥617,244,937.37, representing a year-on-year increase of 32.15%[4] - The net profit attributable to shareholders reached ¥88,989,109.17, up 15.60% compared to the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥81,038,000.22, reflecting an 11.59% increase year-on-year[4] - Basic earnings per share were ¥0.63, which is a 10.53% increase from the previous year[4] - Total assets at the end of the reporting period were ¥1,185,780,884.84, a growth of 7.89% from the beginning of the period[5] - Shareholders' equity attributable to the company was ¥1,000,410,805.65, increasing by 8.18% compared to the start of the period[5] - The weighted average return on net assets (excluding non-recurring items) was 8.38%, up from 7.84% in the previous year[4] Business Strategy - The company's earnings growth was primarily driven by continuous product and technology upgrades, leading to increased order demand[6] - The company actively expanded into new products and applications, enhancing engagement with overseas clients to seize market opportunities[6] Cautionary Notes - The preliminary financial data is subject to audit and should be verified in the annual report, highlighting the need for cautious investment decisions[7]

广东奥迪威传感科技股份有限公司 关于变更项目合伙人、签字注册会计师和质量控制复核人的公告 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。 广东奥迪威传感科技股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召开第四届董事会第十一次会议、2024 年 11 月 13 日召开 2024 年第一次临时 股东大会，审议通过《关于续聘 2024 年度会计师事务所的议案》，同意续聘立信 会计师事务所（特殊普通合伙）（以下简称"立信会计师事务所"）为公司 2024 年度的审计机构。具体内容详见公司于 2024 年 10 月 29 日在北京证券交易所信 息披露平台（www.bse.cn）发布的《拟续聘 2024 年度会计师事务所公告》（公告 编号：2024-092）。近日，公司收到立信会计师事务所出具的《关于项目合伙人、 签字注册会计师和质量控制复核人变更的告知函》，现将具体情况公告如下： 一、本次变更的基本情况 立信会计师事务所作为公司 2024 年度审计机构，原指派梁肖林先生担任项 目合伙人、郭韵 ...

证券代码：832491 证券简称：奥迪威 公告编号：2025-003 广东奥迪威传感科技股份有限公司 第四届董事会第十三次会议决议公告 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 1 月 20 日 2.会议召开地点：公司会议室 4.发出董事会会议通知的时间和方式：2025 年 1 月 16 日以书面方式发出 3.会议召开方式：现场及通讯表决 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 8 人，出席和授权出席董事 8 人。 二、议案审议情况 （一）审议通过《关于制定<舆情管理制度>的议案》 1.议案内容： 4.提交股东大会表决情况： 本议案无需提交股东大会审议。 （二）审议通过《关于制定<市值管理制度>的议案》 1.议案内容： 为加强公司市值管理工作，进一步规范公 ...

Product and Technology Advancements - Expanded applications in robotics, including floor-cleaning robots, underwater robots, service robots, and industrial robots, offering functions like obstacle avoidance, pressure and temperature sensing, material recognition, anti-tipping, liquid level monitoring, dust particle detection, and underwater distance sensing [4] - Achieved breakthroughs in precision industrial dispensing robots and precision force-controlled robotic arms [4] - Developed AK II in-vehicle ultrasonic sensors for smart driving, supporting AVP L2+ autonomous driving levels, with features like multi-function switching, integrated short and long-range radar, longer detection range, smaller blind spots, and compliance with ASIL B functional safety standards [6][7] - Provided solutions for smart cockpits, including front hood touch sensing, smart screen touch feedback, CPD child presence detection, ultrasonic lens self-cleaning, and smart in-car essential oil solutions [7] - Applied ultrasonic technology in drones and flying cars for obstacle avoidance, hovering, landing, and sensor fusion, enhancing safety and precision [8] Market and Regulatory Developments - Ultrasonic lead-free flow metering solutions showcased at Enlit Europe 2024 in Milan, with potential for large-scale adoption driven by EU RoHS regulations, which may phase out lead exemptions for specific functional ceramics by July 2026 [5] - The company holds core technology and patents for lead-free piezoelectric ceramics, enabling mass production to meet future market demands [5] Investment and Operational Updates - Added Guangdong Audiowell Sensors Technology Co Ltd as an implementation entity for the "Multi-layer Tactile and Feedback Micro-actuator Development and Industrialization Project," with a new location in Guangzhou, Guangdong [9] - The change in implementation entity and location was made based on actual business conditions, market needs, and talent development considerations [9] Investor Relations - Conducted an online investor relations event on January 9, 2025, attended by 42 institutions, including Huayuan Securities, Penghua Fund, and Cinda-Australia Fund [3][11] - The event focused on product, technology, industry, and market updates, with responses provided to investor inquiries [4]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has been deeply engaged in the sensor field, achieving a revenue growth of 32.67% year-on-year in Q1-Q3 2024, with total revenue reaching 447 million yuan and a net profit of 67.48 million yuan [3][4] - The company is expected to maintain its profit forecasts for 2024-2026, with projected net profits of 91 million yuan, 111 million yuan, and 138 million yuan for the respective years, corresponding to EPS of 0.64, 0.79, and 0.98 yuan per share [3][4] Summary by Sections 1. Demand Enhancement from Intelligent Driving Upgrades - The company focuses on transducer chips and ultrasonic sensing, innovating product applications [17] - The automotive sensor market is a major downstream application for ultrasonic sensors, with increasing demand driven by the rise of intelligent driving technologies [37] - The company has developed the AK2 vehicle-mounted ultrasonic sensor, which meets functional safety requirements and is compatible with AVPL2 and above autonomous driving levels [4][37] 2. Diversified Development in Pressure Sensors and Humanoid Robots - Ultrasonic sensors are well-suited for humanoid robot applications due to their high precision and low cost [5] - The company has launched several new products, including underwater distance measuring sensors and precision robotic arms, to expand its growth space [5] 3. Long-term Engagement in the Sensor Field - The company has achieved a revenue of 447 million yuan in Q1-Q3 2024, reflecting a year-on-year growth of 32.67% [3] - The company has a strong R&D capability, with R&D expenses amounting to 36.44 million yuan in Q1-Q3 2024 and a total of 308 patents held as of H1 2024 [29][26] 4. Financial Summary and Valuation Indicators - The company’s revenue is projected to grow from 565 million yuan in 2024 to 843 million yuan in 2026, with a compound annual growth rate (CAGR) of 23.6% [4] - The projected P/E ratios for 2024, 2025, and 2026 are 33.8, 27.6, and 22.2 respectively, indicating a favorable valuation trend [4][5]

证券代码：832491 证券简称：奥迪威 公告编号：2025-001 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 具体内容详见公司在北京证券交易所信息披露平台（www.bse.cn）发布的《关 于使用闲置募集资金进行现金管理的公告》（公告编号：2024-060）。 （二）披露标准 根据《北京证券交易所股票上市规则（试行）》相关规定，交易的成交金额 占上市公司最近一期经审计净资产的 10%以上且超过 1,000 万元的应当予以披 露；上市公司连续 12 个月滚动发生理财的，以该期间最高余额为成交额，适用 上述标准。 公司本次使用闲置募集资金购买理财产品的金额为 18,000 万元，截止目前， 公司使用闲置募集资金购买理财产品的未到期余额为 18,000 万元，占公司 2023 年度经审计净资产的 19.46%。达到上述披露标准，现予以披露。 二、 本次现金管理情况 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 （一）审议情况 为提高募集资金使用效率 ...

Investment Rating - The investment rating for the company is "Accumulate" with a target price of 27.2 CNY over a 12-month period [2]. Core Views - The company, Guangdong Audiwei Sensor Technology Co., Ltd., has established itself as a leader in the smart sensor and actuator industry since its inception in 1999, focusing on research, design, production, and sales of intelligent sensors and actuators [2][30]. - The company's revenue and net profit have shown steady growth, with total revenue increasing from 293 million CNY in 2018 to 467 million CNY in 2023, reflecting a 5-year CAGR of 9.77%. The net profit has also grown significantly from 28 million CNY in 2018 to 77 million CNY in 2023, with a 5-year CAGR of 22.42% [2][47]. - The sensor market is experiencing rapid growth, particularly in automotive applications due to the increasing penetration of electric vehicles and advanced driver-assistance systems (ADAS) [2][75]. Summary by Sections Company Overview - The company specializes in smart sensors and actuators, holding multiple core technologies essential for providing components and solutions for the Internet of Things (IoT) [2][30]. - Audiwei has a diverse product line that includes distance, flow, and pressure sensors, as well as atomization transducers and alarm sounders, serving various sectors such as automotive electronics, smart instruments, and security [2][30]. Financial Performance - The company's total revenue has shown a steady increase, with a notable recovery in 2023 after a dip in 2022 due to external factors affecting sales [2][47]. - The net profit has also demonstrated strong growth, with a slight increase in the first three quarters of 2024 compared to the previous year [2][51]. Main Business Segments - The primary products are categorized into sensors and actuators, with sensors based on piezoelectric effects used for detecting information such as distance and position, while actuators utilize reverse piezoelectric effects for feedback actions [2][68]. - The company’s sensor products include ultrasonic sensors and modules, flow sensors, and pressure sensors, which are critical components in smart instruments [2][69]. Market Trends - The automotive sensor market is poised for rapid growth, driven by advancements in ADAS and autonomous driving technologies, which require an increased number of sensors for enhanced safety and intelligence [2][75]. - The company is well-positioned to benefit from the growing demand for smart water meters and the increasing adoption of ultrasonic flow sensors in both domestic and international markets [2][75].

Investment Rating - The report does not provide a specific investment rating for the company [7] Core Insights - The company achieved a revenue of 446.61 million yuan in Q1-Q3 2024, representing a year-on-year increase of 32.67%. The net profit attributable to shareholders was 67.48 million yuan, up by 5.20% year-on-year, while the net profit excluding non-recurring items was 61.83 million yuan, an increase of 1.05% year-on-year. The gross margin was 35.16%, down by 4.55 percentage points year-on-year, and the net profit margin was 15.11%, down by 3.92 percentage points year-on-year [1] - In Q3 2024, the company reported a revenue of 162.64 million yuan, a year-on-year increase of 33.57%. However, the net profit attributable to shareholders decreased by 9.15% year-on-year to 20.67 million yuan, and the net profit excluding non-recurring items was 20.24 million yuan, down by 3.77% year-on-year. The gross margin for this quarter was 34.40%, down by 5.92 percentage points year-on-year, and the net profit margin was 12.71%, down by 5.95 percentage points year-on-year [1] Financial Performance - The company reported a total revenue of 467.08 million yuan for the year 2023, with a year-on-year growth of 23.58%. The net profit attributable to shareholders was 76.98 million yuan, reflecting a year-on-year increase of 45.32%. The gross margin for 2023 was 38%, and the return on equity (ROE) was 8.53% [4] - The company has a total asset turnover ratio of 0.40, which shows a slight improvement compared to the previous year. The net operating cash flow for the period was 58.21 million yuan, representing a year-on-year increase of 1.28% [8] Market Data - As of December 4, 2024, the company's closing price was 28.50 yuan, with a total share capital of 141.15 million shares. The net assets amounted to 976.33 million yuan, and the total assets were 1,131.82 million yuan. The net asset per share was 6.92 yuan [2]