茲提述(i)本公司日期為 2025年 4月 15日的公告，內容有關 2024 年全年業績;(ii)本公司日期為 2025 年 4 月 30 日的公告，內容有關 2024 年報。（統稱「該等公告」）。除非文義另有所指，否則本公 告所用詞彙與該等公告所界定者具有相同涵義。 CC E 本公司董事會謹此向本公司股東及潛在投資者提供有關移除不發表意見的行動計畫執行情況的最 新情況。 山 西 長 城 微 光 器 材 股 份 有 限 公 司 SHANXI CHANGCHENG MICROLIGHT EQUIPMENT CO. LTD.* （於中華人民共和國註冊成立之股份有限公司） （股份代號：8286） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整 性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等 內容而引 致的任何損失承擔任何責任。 有關移除不發表意見的行動計畫執行情況的季度更新 本公告由山西長城微光器材股份有限公司（「本公司」），連同其附屬公司統稱（「本集團」）根 據香港聯合交易所有限公司（「聯交所」）GEM 證券上市規則（「GEM 上市規則 ...

第 1 頁 共 10 頁 v 1.1.1 本月底法定/註冊股本總額： RMB 30,886,000 | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 內資股 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 198,860,000 RMB | | | 0.1 RMB | | 19,886,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 198,860,000 RMB | | | 0.1 RMB | | 19,886,000 | | 證券代號 (如上市) | 08286 | 說明 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | ...

Group 1 - Changfei Optical Fiber and Cable (06869.HK) increased by over 15% [1] - Great Wall Microelectronics (08286.HK) rose by 11.54% [1] - ZTE Corporation (00763.HK) saw an increase of 2.76% [1]

Group 1 - The telecommunications equipment stocks in Hong Kong have shown strong performance, with notable increases in share prices [1] - Changfei Optical Fiber and Cable (06869.HK) experienced a significant rise of 17.46% [1] - Great Wall Microelectronics (08286.HK) saw an increase of 11.54% in its stock price [1] - ZTE Corporation (00763.HK) also reported a gain of 2.76% [1]

Core Viewpoint - The stock prices of several companies in the optical fiber and telecommunications sector have experienced significant increases, indicating positive market sentiment and potential growth opportunities in the industry [1] Company Performance - Changfei Optical Fiber and Cable (06869.HK) saw a stock price increase of 17.46% [1] - Great Wall Microelectronics (08286.HK) experienced a rise of 11.54% [1] - ZTE Corporation (00763.HK) had a more modest increase of 2.76% [1]

| 中国新城镇(01278) | 0.141 | 0.147 | 5.00% | | --- | --- | --- | --- | | 中华汽车(00026) | 59.000 | 60.000 | 4.71% | | 中粮家佳康(01610) | 1.870 | 2.020 | 4.66% | | 原生态牧业(01431) | 0.325 | 0.340 | 4.62% | | 招商局中国基金(00133) | 16.920 | 16.940 | 4.57% | | 沪港联合(01001) | 0.440 | 0.460 | 4.55% | | 曹操出行(02643) | 41.300 | 41.800 | 4.50% | | 派格生物医药－Ｂ | 15.440 | 15.600 | 4.14% | | (02565) | | | | | 中银大湾气候(03129) | 11.260 | 11.190 | 4.09% | | 国锐生活(00108) | 0.980 | 1.040 | 4.00% | | 德康农牧(02419) | 102.800 | 110.000 | 3.77% | | 中远海运港口( ...

Financial Reporting - The company will announce its full-year results for the year ending December 31, 2024, on April 15, 2025[3] - All other information in the 2024 annual results announcement remains accurate and unchanged[3] Audit Committee - The audit committee consists of two independent non-executive directors and one non-executive director, who reviewed the group's accounting principles and financial reports[3]

Business Operations - The Group has been engaged in the design, research, development, manufacture, and sale of image transmission fiber optic products since its listing on GEM in 2004[20]. - The Group produces five main products, including fiber optic inverters and fiber optic face plates, primarily used in military low-light night vision devices[21]. - The Group's products consist of over 10 million optical fibers, indicating a high level of technological sophistication[20]. - The Group's customers are mainly located in China, Russia, and other European countries, highlighting its international market presence[21]. - The Group's core business development efforts are intended to fully realize its potential for optimal performance[15]. - The Company continued to engage in the design, research, development, manufacture, and sale of image transmission fibre optic products[108]. Financial Performance - For the year ended 31 December 2024, the Group's revenue was approximately RMB17,143,000, representing a decrease of approximately 36% compared to RMB26,717,000 in 2023[34][37]. - The cost of sales for the Group was approximately RMB10,715,000, a decrease of approximately 25% from RMB14,333,000 in the previous year[39]. - The gross profit margin decreased to 37.5% in 2024 from 46.35% in 2023 due to hindered exports and decreased sales[40]. - The Group recorded other income, gains, and losses amounting to approximately RMB9,883,000, an increase of approximately RMB1,482,000 compared to RMB8,401,000 in 2023[41]. - Administrative and other operating expenses increased to approximately RMB29,207,000, representing an increase of approximately RMB5,405,000 from RMB23,802,000 in 2023[42]. - Finance costs rose to approximately RMB9,967,000, an increase of approximately RMB1,035,000 compared to RMB8,932,000 in the previous year[43]. - The Group's loss after tax for the year was approximately RMB33,620,000, compared to a loss of RMB10,375,000 in 2023[43]. - Total assets decreased by approximately RMB8,796,000 to approximately RMB162,874,000 as at 31 December 2024, representing a decrease of approximately 5.12%[51]. - Total liabilities increased by approximately RMB24,824,000 to approximately RMB304,795,000 as at 31 December 2024, representing an increase of approximately 8.87%[52]. - The gearing ratio as at 31 December 2024 was approximately 200%, up from 173% in 2023[58]. - The Group's reserves available for dividend distribution to shareholders were RMB0 as of December 31, 2024, unchanged from 2023[120]. Strategic Initiatives - The Group received a subsidy of RMB20,000,000 from the Taiyuan City government to support its technological transformation project[23]. - The Group plans to introduce new strategic investors and negotiate capital operation proposals to improve its financial position[29][30]. - The Board aims to improve operations, production, and market development capabilities to enhance corporate value and financial performance[15]. - The Board is focused on reducing operating costs and improving product quality to restore profit growth[15]. - The Group's operational measures are aimed at enhancing business capabilities amid a difficult operating environment[22]. - Management is preparing fundraising plans, such as equity financing and debt restructuring, to ensure rapid recovery of operations[75]. Shareholder Information - As of December 31, 2024, the Group's largest customer accounted for approximately 65% of total turnover, up from 44% in 2023[127]. - The five largest customers accounted for approximately 91% of total turnover, slightly down from 92% in 2023[127]. - The Group's largest supplier accounted for approximately 40% of total purchases, an increase from 25% in 2023[127]. - The five largest suppliers accounted for approximately 70% of total purchases, up from 51% in 2023[127]. - As of December 31, 2024, Yuan Guoliang holds 3,895,000 shares, representing approximately 3.54% of domestic shares and 1.26% of H shares[155]. - Zhang Shao Hui has an interest in a controlled corporation with 82,200,000 domestic shares, accounting for approximately 41.34% of domestic shares and 26.61% of total share capital[159]. - Beijing Gensir Venture Capital Management Limited is the registered and beneficial owner of 82,200,000 domestic shares, which is approximately 41.34% of domestic shares[159]. - Taiyuan Changcheng Optics Electronics Industrial Company Limited holds 80,160,000 domestic shares, representing approximately 40.31% of domestic shares and 25.95% of total share capital[159]. - Beijing Yuankang Technology Co., Ltd. owns 34,000,000 domestic shares, which is approximately 17.10% of domestic shares and 11.01% of total share capital[161]. Governance and Compliance - The Company has established an audit committee to oversee financial reporting, risk management, and internal control systems, comprising two independent non-executive directors and one non-executive director[185]. - The company has appointed Beijing Xinghua Caplegend CPA Limited as its auditor effective from October 23, 2024, following the resignation of ZHONGHUI ANDA CPA Limited[186]. - The board of directors currently comprises eight members, including three executive directors, two non-executive directors, and three independent non-executive directors[197]. - The company has complied with the Corporate Governance Code, except for the lack of insurance coverage for directors against legal actions due to insufficient budget[194]. - The company has adopted the Required Standard of Dealings for securities transactions by directors, with no reported non-compliance for the year ended December 31, 2024[195]. - The audit committee has reviewed the audited annual results for the year ending December 31, 2024[189].

机构评级方面，目前暂无机构对该股做出投资评级建议。 4月30日，截至港股收盘，恒生指数上涨0.51%，报22119.41点。长城微光（08286.HK）收报0.097港元/ 股，上涨29.33%，成交量40万股，成交额3.74万港元，振幅32.0%。 最近一个月来，长城微光累计跌幅31.19%，今年来累计涨幅25%，跑赢恒生指数9.71%的涨幅。 财务数据显示，截至2024年12月31日，长城微光实现营业总收入1714.3万元，同比减少35.83%；归母净 利润-3353.4万元，同比减少222.69%；毛利率37.5%，资产负债率187.14%。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 本文源自：金融界 作者：行情君 行业估值方面，资讯科技器材行业市盈率（TTM）平均值为41.02倍，行业中值3.02倍。长城微光市盈 率-0.64倍，行业排名第60位；其他长虹佳华（03991.HK）为2.99倍、南方通信（01617.HK）为3.05倍、 SIS INT'L（00529.HK）为3.8倍、普天通信集团（01720.HK）为6.29倍、华显光电（00334.HK）为 ...

Core Insights - The micro-light device industry in China is experiencing steady growth, driven by increasing demand in security monitoring, military defense, and industrial inspection sectors. The market size is projected to rise from approximately 11.265 billion yuan in 2019 to 19.27 billion yuan by 2024 [1][8]. Industry Definition and Classification - Micro-light devices are electronic devices capable of detecting, amplifying, or converting light signals under low-light conditions, widely used in night vision, monitoring, astronomical observation, and biomedical imaging [1]. Industry Chain Analysis - The micro-light device industry chain includes upstream raw material and equipment suppliers, midstream manufacturers and component integrators, and downstream applications in military, security, industrial inspection, and scientific research [3]. Development History - The industry has evolved through three stages: reliance on foreign technology in the early years, increased domestic production and innovation in the mid-stage, and a focus on technological upgrades and market expansion in recent years [5]. Current Market Analysis - The market size of the micro-light device industry is expected to grow significantly, with a notable increase in demand for micro-light imaging devices in smart city security systems and military modernization efforts [8][11]. Downstream Application Areas - The military sector dominates the application of micro-light devices, accounting for 48% of the market, followed by security monitoring at 28%, and industrial inspection at 15%. Emerging fields like autonomous driving and biomedical applications are also gaining traction [11]. Key Companies Analysis - Major players in the industry include North Night Vision Technology, Great Wall Micro-light, Wavelength Optoelectronics, and others, each focusing on different aspects of micro-light device production and innovation [13][14][16]. Future Development Trends - The industry is moving towards integration and miniaturization of micro-light devices, enhancing performance and enabling new applications. Additionally, achieving a self-controlled industry chain is crucial for reducing dependency on external technologies and improving competitiveness [18][19]. Market Outlook - Micro-light devices are expanding their applications beyond traditional security monitoring into new areas such as autonomous driving and smart healthcare, indicating a promising market future [20].