证券代码：833509 证券简称：同惠电子 公告编号：2025-038 常州同惠电子股份有限公司 一、 投资者关系活动类别 □特定对象调研 □业绩说明会 □媒体采访 投资者关系活动记录表 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。 □现场参观 □新闻发布会 □分析师会议 □路演活动 √其他 （线上会议） 二、 投资者关系活动情况 活动时间：2025 年 5 月 12 日 参会单位及人员：华源证券、广发基金、宝盈基金、中海基金、财通资管、 平安资产、爱建证券、民生证券、长江证券、中国银河证券、开源证券、中山证 券、联储证券、深圳市尚诚资产管理有限责任公司、上海道翼投资管理有限公司、 深圳市国晖投资有限公司、中天汇富基金管理有限公司、广州泽恩投资控股有限 公司、苏州龙远投资管理有限公司、宁远资本有限公司、北京星允投资管理有限 公司、武汉唯尔思股权投资基金管理有限公司、深圳正圆投资有限公司、远信(珠 海)私募基金管理有限公司、上海冰河资产管理有限公司、誉辉资本管理（北京） 有限责任公司、立元创投、上海合道 ...

中国江苏省南京市汉中门大街 309 号 B 座 7-8 层 邮编：210036 7-8/F, Block B, 309 Hanzhongmen Dajie, Nanjing, China, 210036 电话/Tel: +86 25 8966 0900 传真/Fax: +86 2589660966 网址/Website: http://www.grandall.com.cn 二〇二五年五月 国浩律师（南京）事务所 法律意见书 2024 年年度股东会 之 法律意见书 国浩律师（南京）事务所 关 于 常州同惠电子股份有限公司 国浩律师（南京）事务所 关于常州同惠电子股份有限公司 2024 年年度股东会之 法律意见书 编号：025202510500993 致：常州同惠电子股份有限公司 根据《中华人民共和国公司法》、《北京证券交易所股票上市规则》及其 他法律、法规和规范性文件的要求，国浩律师（南京）事务所（以下称"本 所"）接受常州同惠电子股份有限公司（以下称"公司"）的聘请，指派本所 律师出席该公司 2024 年年度股东会，并就公司本次股东会相关事宜出具法律意 见。 为出具本法律意见书，本所律师出席了公司本次股东会 ...

Core Viewpoint - Tonghui Electronics expects to generate approximately 1 million yuan in sales revenue from its important client, Xinkailai, in the fiscal year 2024 [1] Group 1: Company Overview - Tonghui Electronics has released an investor relations activity record indicating its sales forecast for 2024 [1] - The company's products are primarily utilized in the semiconductor power testing equipment sector [1] Group 2: Product Details - Key product models include the TH2838/TH2839/TH2851 series precision impedance analyzers, TH51X series semiconductor C-V characteristic analyzers, and TH2690 series high resistors, flying safety meters, and electrostatic meters [1]

Group 1: Financial Performance - The company's revenue for 2024 was CNY 193.95 million, representing a year-on-year growth of 14.54% [6] - Net profit attributable to shareholders was CNY 50.44 million, with a year-on-year increase of 30.46% [6] - Deducting non-recurring gains and losses, the net profit was CNY 45.04 million, showing a growth of 43.30% [6] Group 2: Market Trends and Strategies - The company anticipates a sustained recovery in the consumer electronics market due to favorable policies and increased demand [6] - The company is focusing on R&D and marketing to enhance its core competitiveness and expand market share [6] - The company plans to establish a wholly-owned subsidiary in Munich, Germany, with an investment of €100,000 to strengthen its overseas market presence [8] Group 3: Regional Performance - Revenue growth in East China and South China was 24.03% and 15.18%, respectively, driven by improved economic conditions and increased demand [7][8] Group 4: Shareholder Returns - The company plans to implement a cash dividend of CNY 2.5 per share, with the distribution expected to occur within two months after the shareholders' meeting on May 13, 2025 [9] - The company emphasizes its commitment to returning value to shareholders through various methods, including cash dividends and stock buybacks [9] Group 5: Product Involvement - In 2024, the company generated approximately CNY 1 million in sales to New Kailai, primarily in semiconductor power testing equipment [10] - The company is actively exploring mergers and acquisitions to strengthen its position in the electronic measurement instrument sector [10]

中信建投证券股份有限公司 关于常州同惠电子股份有限公司 中信建投证券作为同惠电子本次发行的保荐机构，主要保荐工作如下： （一）尽职推荐工作 按照法律、行政法规和中国证监会的规定，对发行人进行尽职调查，组织编 制申请文件并出具推荐文件；提交推荐文件后，主动配合全国中小企业股份转让 系统有限责任公司（以下简称"全国股转公司"）的审核，组织发行人及其它中 介机构对全国股转公司、中国证监会的意见进行答复，按照要求对涉及本次发行 的特定事项进行尽职调查或核查，并按照《全国中小企业股份转让系统股票向不 特定合格投资者公开发行并在精选层挂牌规则（试行）》《全国中小企业股份转让 系统股票向不特定合格投资者公开发行保荐业务管理细则（试行）》等相关规定 向全国股转公司提交推荐本次发行所要求的相关文件，并报中国证监会备案。 （二）持续督导工作 中信建投证券股份有限公司（以下简称"中信建投"或"保荐机构"）作为 常州同惠电子股份有限公司（以下简称"同惠电子"、"公司"或"发行人"）向 不特定合格投资者公开发行股票（以下简称"本次发行"）的保荐机构，负责公 开发行股票完成后的持续督导工作，持续督导期限为 2021 年 1 月 11 日 ...

Investment Rating - The report maintains a "Recommended" investment rating for Tonghui Electronics [1] Core Views - The company has shown a significant recovery in performance with a net profit growth of 125.39% year-on-year in Q1 2025, driven by the recovery in consumer electronics demand [3] - The company is focusing on high-intensity R&D investments, launching multiple new products, and has a rich patent reserve, which is expected to enhance its market competitiveness [3] - The forecasted net profits for 2025-2027 are projected to grow by 21.81%, 20.42%, and 21.96% respectively, indicating a strong growth trajectory [3] Financial Performance Summary - In 2024, the company achieved a revenue of 193.95 million yuan, a year-on-year increase of 14.54%, and a net profit of 50.34 million yuan, up 30.46% [4][6] - For Q1 2025, the company reported a revenue of 39.09 million yuan, reflecting a 23.84% increase year-on-year, and a net profit of 9.92 million yuan, marking a 125.39% growth [3] - The gross margin for Q1 2025 was 56.82%, and the net margin was 25.12%, indicating stable profitability levels [3] Product and Market Development - The company has launched several new products targeting the fields of new energy and third-generation semiconductor power device testing, which are expected to diversify its product matrix and enhance competitiveness [3] - The main products contributing to revenue growth include component parameter testing instruments and safety wire testing instruments, with significant sales growth in the South China region [3] Financial Projections - Revenue projections for 2025, 2026, and 2027 are 239 million yuan, 291 million yuan, and 352 million yuan respectively, with corresponding growth rates of 23.23%, 21.76%, and 20.96% [4][6] - The projected net profit for 2025, 2026, and 2027 is 61.33 million yuan, 73.84 million yuan, and 90.05 million yuan, with growth rates of 21.81%, 20.42%, and 21.96% respectively [4][6]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The recovery of the consumer electronics industry has driven a significant increase in market demand, with the company reporting a revenue of 194 million yuan in 2024, a year-on-year increase of 14.54%, and a net profit attributable to shareholders of 50.44 million yuan, up 30.46% year-on-year. In Q1 2025, the company achieved a revenue of 39 million yuan, a year-on-year increase of 23.84%, and a net profit of 10 million yuan, up 125.39% year-on-year [2] - The growth in performance is attributed to the implementation of national consumption promotion and stability policies, alongside a notable recovery in the consumer electronics sector driven by technological innovation and market demand. The sales of electronic measurement instruments have significantly increased [2][3] - The company has optimized its operational, sales, and profit models, enhancing cost control across the entire process. In 2024, the sales, management, R&D, and financial expense ratios were 8.02%, 8.90%, 16.17%, and -0.80%, respectively, showing improvements compared to the previous year [2] Revenue and Profitability - The component parameter testing instruments and safety wire testing instruments have shown steady growth, contributing nearly 70% of total revenue. The revenue from component parameter testing instruments is expected to increase by 14.80% to 88 million yuan in 2024, while safety wire testing instruments are projected to grow by 15.71% to 44 million yuan [3] - The company has successfully developed a series of new instruments focused on the analysis and testing of new energy charging and storage products, enhancing its market share and core competitiveness [3] - The company has introduced seven new products in 2024, including battery pack internal resistance testing systems and modular wiring harness testing systems, entering small-scale production [4] Financial Forecasts - The company has adjusted its net profit forecasts for 2025 and 2026 to 62 million yuan and 75 million yuan, respectively, with a new forecast for 2027 set at 91 million yuan. The corresponding latest P/E ratios are 66.26, 54.45, and 45.00 [4] - The company is expected to benefit from the rising consumption capacity in emerging markets and the acceleration of digitalization [4]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The recovery of the consumer electronics industry has driven a significant increase in market demand, with the company reporting a revenue of 194 million yuan in 2024, a year-on-year increase of 14.54%, and a net profit attributable to shareholders of 50.44 million yuan, up 30.46% year-on-year [2] - In Q1 2025, the company achieved a revenue of 39 million yuan, representing a year-on-year growth of 23.84%, and a net profit attributable to shareholders of 10 million yuan, which is a remarkable increase of 125.39% year-on-year [2] - The growth in performance is attributed to the implementation of national consumption promotion and stability policies, alongside a notable recovery in the consumer electronics sector driven by technological innovation and market demand [2][3] Revenue and Profitability - The company's revenue forecast for 2024 is 194 million yuan, with a projected growth rate of 14.54%, and for 2025, the revenue is expected to reach 241 million yuan, reflecting a growth rate of 24.03% [11] - The net profit attributable to shareholders is forecasted to be 50.44 million yuan in 2024 and 61.90 million yuan in 2025, with respective growth rates of 30.46% and 22.72% [11] - The company has optimized its operational, sales, and profitability models, leading to a sales net profit margin increase of 3.16 percentage points to 25.95% despite a slight decline in gross margin [2][3] Product Performance - The component parameter testing instruments and safety wire testing instruments have shown steady growth, contributing nearly 70% of total revenue [3] - The revenue from component parameter testing instruments is expected to grow by 14.80% to 88 million yuan in 2024, while safety wire testing instruments are projected to grow by 15.71% to 44 million yuan [3] - The company has successfully developed new instruments focusing on the analysis and testing of new energy charging and storage products, enhancing its market share and core competitiveness [3][4] Technological Advancements - The company has continuously optimized its product structure and introduced new products with core competitiveness, moving towards the mid-to-high-end market [4] - In 2024, the company plans to launch seven new products, including battery pack internal resistance testing systems and modular wiring harness testing systems, which are currently in small batch production [4] - The company has relocated to a new factory with a production capacity of 65,000 sets of intelligent electronic measuring instruments per year, effectively overcoming production capacity bottlenecks [4] Financial Forecasts - The company’s net profit forecasts for 2025 and 2026 have been adjusted to 62 million yuan and 75 million yuan respectively, with a new forecast for 2027 set at 91 million yuan [4] - The corresponding price-to-earnings ratios are projected to be 66.26, 54.45, and 45.00 for 2025, 2026, and 2027 respectively, indicating the company's long-term growth potential [4]

Summary of Key Points Core Viewpoint - The trading volume and value of stocks on the Beijing Stock Exchange (BSE) experienced a significant decrease on April 24, with a total trading volume of 1.409 billion shares and a trading value of 30.062 billion yuan, down by 2.821 billion yuan compared to the previous trading day. Trading Performance - Among the tradable stocks on the BSE, 38 stocks closed higher, accounting for 14.34% of the total tradable stocks. The top gainers included Lusi Co., Ltd. (up 14.74%), Shibibai (up 10.35%), and Zhongyu Technology (up 9.59%) [1]. - Conversely, 226 stocks closed lower, with the largest declines seen in Kobalt (down 14.47%), Guangsha Environmental Energy (down 11.17%), and Tonghui Electronics (down 8.76%) [1]. Trading Volume and Turnover - A total of 100 stocks had a trading value exceeding 10 million yuan, with the highest trading values recorded for Kai Fa Technology (810 million yuan), Airong Software (662 million yuan), and Xingtou Measurement and Control (531 million yuan) [1]. - The trading activity showed that 65 stocks had a turnover rate exceeding 10%, with 14 stocks exceeding 20%. The stocks with the highest turnover rates included Kobalt (59.97%), Yiyiy Pharmaceutical (35.97%), and Wanda Bearings (32.47%) [1]. Stock Performance Details - The detailed trading performance of selected stocks included: - Kai Fa Technology: Closing price 109.40 yuan, down 8.60%, turnover rate 22.93%, trading value 809.968 million yuan - Airong Software: Closing price 57.70 yuan, down 8.03%, turnover rate 9.27%, trading value 661.923 million yuan - Xingtou Measurement and Control: Closing price 77.90 yuan, down 8.03%, turnover rate 18.16%, trading value 531.205 million yuan - Kobalt: Closing price 48.65 yuan, down 14.47%, turnover rate 59.97%, trading value 354.388 million yuan [1][2][3].

（一）出席董事会、股东大会的情况 2024年度，公司共召开6次董事会会议、3次股东大会。本人出席上述会议的 情况如下： | 应出席董事 | 实际出席董 | 出席董事会 | 投票 | 应列席股东 | 实际列席股 | 参加股东 | 现场工作 | | --- | --- | --- | --- | --- | --- | --- | --- | | 会次数 | 事会次数 | 方式 | 情况 | 大会次数 | 东大会次数 | 大会方式 | 时间（天） | | 6 | 6 | 现场 | 全部 | 3 | 3 | 现场 | 16 | | | | | 同意 | | | | | （二）出席董事会专门委员会的情况 证券代码：833509 证券简称：同惠电子 公告编号：2025-019 常州同惠电子股份有限公司 2024年度独立董事述职报告（朱亚媛） 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。 本人朱亚媛作为常州同惠电子股份有限公司（以下简称 "公司"）的独立董 事，在任职期间严格按照《中华人民共和国公司法》、《中华人 ...