Core Insights - The consumer electronics industry is experiencing growth driven by AI innovations in hardware upgrades such as heat dissipation, battery, and fast charging, leading to increased gross margins for related listed companies [1][5] Company Performance - Lianyi Zhizao (002600) reported a revenue of 37.59 billion yuan for the first three quarters of the year, a year-on-year increase of 19.25%, and a net profit of 1.941 billion yuan, up 37.66% [1] - In Q3 2025, Lianyi Zhizao achieved a revenue of 13.965 billion yuan, a 12.91% increase year-on-year, with a net profit of 1.012 billion yuan, up 39.28% [1] - The gross margin for Lianyi Zhizao reached 19.2% in Q3 2025, compared to 17.2% in the same period last year, with a year-on-year increase of 13.27 percentage points in the first half of the year [1] - Luxshare Precision (002475) reported a gross margin of 12.84% in Q3 2025, up from 11.75% year-on-year, and a gross margin of 12.15% for the first three quarters, compared to 11.72% last year [2] - Derun Electronics (002055) achieved a gross margin of 22.9% in Q3 2025, significantly up from 12.52% year-on-year, with a gross margin of 21.73% for the first three quarters, compared to 15.39% last year [2] - Lens Technology (300433) reported a net profit of 1.7 billion yuan in Q3, a year-on-year increase of 12.62%, and anticipates significant revenue from humanoid robots and quadruped robotic dogs in 2025 [3] Industry Trends - The consumer electronics sector is undergoing a transformation towards AI-enabled smart devices, with increasing demand for high-precision, miniaturized, and multifunctional components [2] - The expansion of the AI server market and the delivery of AI cabinet products for large-scale data centers are driving revenue growth for companies like Industrial Fulian (601138) [4] - Industrial Fulian reported a revenue of 243.172 billion yuan in Q3 2025, a 42.81% year-on-year increase, with a net profit exceeding 10 billion yuan for the first time, reaching 10.373 billion yuan, up 62.04% [5] - The consumer electronics industry is expected to continue evolving towards smart, ecological, and sustainable development, with AI as a core driving force [5]

Core Viewpoint - Lianchuang Optoelectronics experienced a stock price decline of 2.01% on October 31, 2023, with a current price of 63.02 CNY per share and a total market capitalization of 28.58 billion CNY [1] Financial Performance - For the period from January to September 2025, Lianchuang Optoelectronics reported a revenue of 2.503 billion CNY, reflecting a year-on-year growth of 2.85%, and a net profit attributable to shareholders of 400 million CNY, which is a 19.37% increase compared to the previous year [2] - The company has distributed a total of 408 million CNY in dividends since its A-share listing, with 85.46 million CNY distributed over the past three years [3] Stock Market Activity - As of October 31, 2023, Lianchuang Optoelectronics saw a net outflow of 38.88 million CNY in principal funds, with large orders accounting for 23.98% of purchases and 25.04% of sales [1] - The stock has increased by 31.77% year-to-date, with a slight increase of 1.32% over the last five trading days, a minor decline of 0.11% over the last 20 days, and a 14.92% increase over the last 60 days [1] Shareholder Information - As of September 30, 2025, the number of shareholders for Lianchuang Optoelectronics reached 48,700, an increase of 9.19% from the previous period, with an average of 9,314 circulating shares per shareholder, down by 8.41% [2] - Notable shareholders include the Southern CSI 500 ETF, which is the fourth largest shareholder, holding 5.2933 million shares, a decrease of 109,500 shares from the previous period [3]

Summary of the Conference Call for Lianchuang Optoelectronics Company Overview - **Company**: Lianchuang Optoelectronics - **Industry**: Laser and Superconducting Technology Key Financial Performance - **Revenue**: In the first three quarters of 2025, total revenue reached 25.03 billion yuan, a year-on-year increase of 2.85% [3] - **Net Profit**: The net profit attributable to shareholders exceeded 4 billion yuan, up 19.37% year-on-year [3] - **Gross Margin**: The overall gross margin was 19.73%, an increase of 0.73% compared to the same period last year [3] - **Quarterly Performance**: In Q3 2025, net profit was 1.37 billion yuan, a 28.31% increase year-on-year, with a gross margin of 20.29% [3] Business Segment Performance - **Laser Business**: Revenue from laser products was 12.75 billion yuan, a slight decline of 10% year-on-year [2][7] - **Backlight Source Business**: Revenue from backlight sources was 8.6 billion yuan, showing a growth of approximately 15% year-on-year [2][7] - **Subsidiary Performance**: The subsidiary, Zhongjiu Optoelectronics, reported a significant revenue increase of 455.76% to 1.97 billion yuan, with profits nearing 30 million yuan, a growth of over 700% [2][4] Technological Advancements - **Superconducting Technology**: The high-temperature superconducting single crystal silicon growth furnace technology has reached a global leading level, with a verification order from China Nuclear Industry Group worth 41.8 million yuan [2][6] - **Nuclear Fusion Applications**: High-temperature superconducting technology is crucial for controlled nuclear fusion, enhancing output power by 16 times compared to traditional conductors [10] Market Expansion and Future Outlook - **Market Development**: The company is actively expanding its market presence through diverse channels, including military trade and participation in international exhibitions [5] - **Future Projects**: The "Spark One" project is progressing steadily, with plans for demonstration power generation by 2030 and continuous stable power generation by 2032-33 [12][13] - **Electromagnetic Launch Projects**: Collaboration with Ziyang State-owned Assets and Ziyang Commercial Aerospace for electromagnetic launch projects is underway, marking a strategic move into emerging markets [14] Risk Management and Inventory - **Inventory Management**: In 2024, significant impairment provisions were made for backlight source inventory, particularly for mobile devices, which is expected to alleviate pressure in 2025 [9] Conclusion - **Overall Assessment**: Lianchuang Optoelectronics shows a robust financial performance with promising growth in its laser and superconducting segments, alongside strategic market expansions and technological advancements that position the company favorably for future opportunities [2][3][4][5][6][10]

Core Viewpoint - Lianchuang Optoelectronics (600363.SH) reported a decline in revenue for Q3 2025, while net profit showed significant growth compared to the previous year [1] Financial Performance - The company's operating revenue for Q3 2025 was 856 million yuan, representing a year-on-year decrease of 3.54% [1] - The net profit attributable to shareholders of the listed company was 137 million yuan, reflecting a year-on-year increase of 28.31% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 127 million yuan, which is a year-on-year increase of 22.38% [1]

Core Viewpoint - Lianchuang Optoelectronics, established in 1999 and listed in 2001, specializes in semiconductor lasers and superconducting induction equipment, with a strong technological and industrial chain advantage. The company operates in various sectors including nuclear fusion, superconductivity, aerospace, and nuclear power [1]. Group 1: Business Performance - In Q3 2025, Lianchuang Optoelectronics achieved a revenue of 2.503 billion, ranking 27th in the industry, significantly lower than the top players, but above the industry median of 1.415 billion [2]. - The company's net profit for the same period was 455 million, ranking 14th in the industry, again far below the leaders but above the industry median of 54.758 million [2]. Group 2: Financial Ratios - As of Q3 2025, Lianchuang Optoelectronics had a debt-to-asset ratio of 41.70%, slightly up from 40.62% year-on-year, but lower than the industry average of 44.84% [3]. - The gross profit margin for the same period was 19.73%, an increase from 19.00% year-on-year, and higher than the industry average of 19.47% [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 9.19% to 48,700, while the average number of circulating A-shares held per shareholder decreased by 8.41% to 9,314.13 [5]. Group 4: Business Highlights - In H1 2025, Lianchuang Optoelectronics reported a year-on-year revenue growth of 7% and a net profit growth of 15%. Key business highlights include breakthroughs in superconducting technology and significant growth in laser business orders, with a 177% increase in revenue from laser series and traditional LED chips [6]. - The company is positioned to benefit from domestic controlled nuclear fusion project tenders and has made strides in commercializing high-temperature superconducting applications [7].

Core Viewpoint - The company reported a decline in revenue for Q3 2025, while net profit showed significant growth year-on-year [2] Financial Performance - In Q3 2025, the company achieved revenue of 856 million yuan, a year-on-year decrease of 3.54% [2] - The net profit attributable to shareholders for Q3 2025 was 137 million yuan, reflecting a year-on-year increase of 28.31% [2] - Basic earnings per share for Q3 2025 stood at 0.3 yuan [2] - For the first three quarters of 2025, the company reported total revenue of 2.503 billion yuan, representing a year-on-year growth of 2.85% [2] - The net profit attributable to shareholders for the first three quarters was 400 million yuan, marking a year-on-year increase of 19.37% [2] - Basic earnings per share for the first three quarters was 0.88 yuan [2]

证券代码：600363 证券简称：联创光电 编号：2025-083 江西联创光电科技股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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责任。 重要内容提示： 公司于 2025 年 10 月 30 日召开了第八届董事会第二十七次会议，审议通过了关 于公司《2025 年第三季度报告》的议案。具体内容详见公司于 2025 年 10 月 31 日在 上海证券交易所网站（www.sse.com.cn）披露的《2025 年第三季度报告》（公告编号： 2025-080）。 一、说明会类型 根据《上海证券交易所上市公司自律监管指南第 3 号——信息披露咨询、业绩说 明会等服务》等相关规定，为便于广大投资者更加全面、深入地了解公司情况，公司 决定通过上海证券报中国证券网路演中心召开 2025 年第三季度业绩说明会，本次投 资者说明会以网络互动形式召开，就投资者关注的公司经营业绩、发展规划等事项与 广大投资者进行充分交流。 二、说明会召开的时间、地点 1、会议召开时间：2025 年 11 ...

本公司监事会及全体监事保证本公告内容不存在任何虚假记载、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责任。 证券代码：600363 证券简称：联创光电 编号：2025-082 江西联创光电科技股份有限公司 第八届监事会第二十二次会议决议公告 （2）公司《2025 年第三季度报告》全文公允地反映了公司报告期内的财务 状况和经营成果，所包含的信息能从各个方面真实地反映出公司报告期内的经营 管理和财务状况等事项； （3）公司董事、监事和高级管理人员保证公司《2025 年第三季度报告》全 文所披露的信息真实、准确、完整，承诺其中不存在虚假记载、误导性陈述或重 大遗漏，并对其内容的真实性、准确性和完整性承担个别和连带的法律责任； （4）公司在《2025 年第三季度报告》全文的编制过程中，未发现公司参与 第三季度报告编制和审议的人员有违反保密规定的行为。 一、监事会会议召开情况 2025 年 10 月 20 日，江西联创光电科技股份有限公司（以下简称"公司"）以 书面形式发出《关于召开第八届监事会第二十二次会议的通知和材料》，并以邮 件、直接呈送等方式送达各位监事。 2025 年 10 月 ...

Financial Performance - The company's operating revenue for the third quarter was ¥855,745,020.11, a decrease of 3.54% compared to the same period last year[5]. - Total profit for the quarter reached ¥163,759,676.76, an increase of 32.38% year-over-year[5]. - Net profit attributable to shareholders was ¥137,160,130.79, reflecting a growth of 28.31% compared to the previous year[5]. - The basic earnings per share for the quarter was ¥0.30, up 25.00% from the same period last year[5]. - Total operating revenue for the first three quarters of 2025 reached ¥2,503,285,677.14, an increase of 2.85% compared to ¥2,433,896,081.82 in the same period of 2024[31]. - Net profit for the first three quarters of 2025 was ¥454,622,467.36, representing a 19.8% increase from ¥379,456,296.24 in 2024[32]. - Basic and diluted earnings per share improved to ¥0.88, compared to ¥0.74 in the previous year[33]. - The company reported a total comprehensive income of ¥457,137,724.61 for the first three quarters of 2025, compared to ¥377,594,122.06 in 2024[33]. Assets and Liabilities - Total assets at the end of the reporting period were ¥8,778,417,858.36, an increase of 8.35% from the end of the previous year[6]. - The company's total assets reached RMB 8,778,417,858.36, an increase from RMB 8,101,716,853.56 at the end of 2024, representing a growth of approximately 8.34%[25]. - The company's total liabilities as of September 30, 2025, were RMB 3,660,348,582.83, compared to RMB 3,309,990,451.55 at the end of 2024, indicating an increase of around 10.59%[28]. - The equity attributable to shareholders reached RMB 4,429,528,732.98, up from RMB 4,152,294,656.58, which is an increase of approximately 6.67%[29]. Cash Flow - The company reported a net cash flow from operating activities of ¥26,616,943.28 for the year-to-date, a decrease of 20.11% compared to the previous year[5]. - Cash flow from operating activities generated a net amount of ¥26,616,943.28, down from ¥33,316,512.44 in the same period last year[35]. - Cash and cash equivalents at the end of the period totaled ¥2,147,431,771.71, an increase from ¥1,554,068,654.15 at the end of the previous year[36]. - Investment activities resulted in a net cash outflow of ¥35,590,660.57, an improvement from a net outflow of ¥53,717,606.72 in 2024[35]. - Financing activities generated a net cash inflow of ¥315,081,921.73, compared to a net outflow of ¥112,241,598.38 in the same period last year[36]. Shareholder Actions - The company plans to repurchase shares with a budget between RMB 100 million and RMB 150 million, starting from February 10, 2025, to February 9, 2026[14]. - As of October 30, 2025, the company has repurchased a total of 1,863,400 shares, accounting for 0.4109% of the total share capital, with a total expenditure of RMB 104,635,782.73[15]. - The company repurchased 33.0229% equity in Lianchuang Display Technology Co., Ltd. for RMB 100 million, restoring it as a wholly-owned subsidiary[17]. Investments and Acquisitions - The company acquired 6.7% equity in Jiangxi Lianchuang Cable Co., Ltd. for RMB 100,000, resulting in 100% ownership[16]. - The company is involved in a joint investment to establish a commercial aerospace operation company with a registered capital of RMB 80 million, contributing RMB 24 million for a 30% stake[19]. - The company approved a capital increase of RMB 240 million for its wholly-owned subsidiary, Jiangxi Lianchuang Display Technology Co., Ltd., raising its registered capital from RMB 590.5 million to RMB 830.5 million[24]. - The company also increased the registered capital of its subsidiary, Jiangxi Lianchuang Zhiguang Technology Co., Ltd., by RMB 240 million, bringing its registered capital from RMB 185 million to RMB 425 million[24]. Strategic Changes - The company has applied to terminate the listing of its subsidiary, Hualian Electronics, on the National Equities Exchange and Quotations, based on its current operational status and long-term strategic planning[21]. - The company completed the deregistration of its subsidiary, Jiangxi Huason Laser Technology Co., Ltd., on August 29, 2025, as part of its strategic development considerations[23]. Research and Development - Research and development expenses increased to ¥125,446,953.94, up from ¥112,437,618.33 in the previous year, indicating a focus on innovation[31].

证券代码：600363 证券简称：联创光电 编号：2025-081 2025 年 10 月 20 日，江西联创光电科技股份有限公司（以下简称"公司"） 以书面形式发出《关于召开第八届董事会第二十七次会议的通知和材料》，并以 邮件、直接呈送等方式送达各位董事、监事、高管。 2025 年 10 月 30 日上午 10:00，在公司总部五楼第一会议室以现场结合通讯 表决方式召开第八届董事会第二十七次会议。应到董事 9 人，实到董事 9 人。本 次董事会会议的召集和召开程序符合《公司法》及《公司章程》的有关规定。会 议由董事长伍锐先生主持，公司监事和高级管理人员列席了会议。会议审议通过 了以下议案，并形成了决议： 二、董事会会议审议情况 （一）审议通过了关于公司《2025 年第三季度报告》的议案 表决结果：同意 9 票，反对 0 票，弃权 0 票。 具体内容详见公司于同日在上海证券交易所网站（www.sse.com.cn）披露的 《2025 年第三季度报告》（公告编号：2025-080）。 本议案已经公司第八届董事会审计委员会第十二次会议审议通过。 特此公告。 江西联创光电科技股份有限公司 第八届董事会第二十七次会议 ...