证券代码：600498 证券简称：烽火通信 公告编号：2024-067 转债代码：110062 转债简称：烽火转债 烽火通信科技股份有限公司 关于可转换公司债券 2024 年度付息公告 4、证券类型：可转换为公司 A 股股票的可转换公司债券 5、发行规模：本次发行可转债总额为人民币 308,835 万元。 6、发行数量：3,088,350 手（30,883,500 张） 7、票面金额和发行价格：本次发行的可转债每张面值为人民币 100 元，按 面值发行。 3、债券代码：110062 烽火通信科技股份有限公司（全文简称"公司"）于 2019 年 12 月 2 日公开 发行的可转换公司债券（全文简称"烽火转债"或"可转债"）将于 2024 年 12 月 2 日支付自 2023 年 12 月 2 日至 2024 年 12 月 1 日期间的利息。根据本公司 《公开发行可转换公司债券募集说明书》（以下简称"《募集说明书》"）的规定， 现将有关事项公告如下： 一、烽火转债的基本情况 1、债券名称：烽火通信科技股份有限公司可转换公司债券 2、债券简称：烽火转债 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 ...

烽火通信科技股份有限公司 关于归还暂时补充流动资金的募集资金的公告 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。 一、募集资金暂时补充流动资金情况 烽火通信科技股份有限公司（以下简称"公司"）于 2023 年 12 月 6 日召开 第八届董事会第十七次临时会议，审议通过了《关于使用部分闲置募集资金暂时 补充流动资金的议案》，同意将部分闲置募集资金不超过 4.6 亿元（含 4.6 亿元） 人民币暂时补充流动资金，使用期限不超过 12 个月（自公司董事会审议批准之 日起计算），在有效期内上述额度可以滚动循环使用，并将根据工程进度提前安 排归还募集资金，确保募集资金投资项目的正常运行。具体内容详见上海证券交 易所网站（www.sse.com.cn）及 2023 年 12 月 7 日《中国证券报》《上海证券报》 和《证券时报》披露的《烽火通信科技股份有限公司关于使用部分闲置募集资金 暂时补充流动资金的公告》（公告编号：2023-047）。 转债代码：110062 转债简称：烽火转债 证券代码：600498 证券简称：烽火通信 ...

Summary of the Conference Call for Fenghuo Communication Company Overview - Fenghuo Communication is a subsidiary of China Information Technology Group, possessing both technology and computing power attributes, with competitive advantages in optical communication equipment, optical fibers, and software sectors, and maintains a significant partnership with Huawei [2][3] Core Business Segments - The main business segments of Fenghuo Communication include: - Optical communication equipment (operator network equipment, servers) - Optical fibers and cables (traditional G652D and new G654E fibers) - Data network business (software development for public security) [2][6] Financial Performance - The company has shown steady growth in recent years, experiencing a downturn in 2020 due to the pandemic and software business losses. However, through stock incentive plans and cost reduction measures, a compound annual growth rate (CAGR) of 43% is expected from 2022 to 2024 [2][4] - The projected revenue growth for the next few years is around 15% annually, with a return on equity (ROE) expected to improve [12][14] Market Position and Competitive Advantage - In the 2023 China Mobile procurement, Fenghuo Communication ranked second in the optical fiber and cable market with a 15.5% market share, and nearly 20% market share in the new G654E fiber segment, indicating strong competitiveness in new technology [2][7] - The data network business, while currently under pressure, is anticipated to see significant growth in the next 1-2 years due to local government debt relief and increasing demand for digital transformation [2][8] Computing Power Business - The computing power segment, represented by Wuhan Yangtze Computing, is a key growth area, with expected revenue of 9 billion yuan next year, although current profit margins are low [2][9][10] - The gross margin for the Kunpeng series is approximately 10%, with net margins between 1% and 2%. Future improvements in profit margins are anticipated as partnerships solidify and the supply chain opens up [10] Cost Control and Efficiency Improvements - Fenghuo Communication has implemented significant cost reduction and efficiency improvement measures, including workforce reduction and strict control over sales and R&D expenses, leading to a notable recovery in performance [11] Valuation and Investment Recommendation - The current valuation of Fenghuo Communication is considered reasonable, with an expected price-to-earnings (PE) ratio of 30 for the next year, translating to a target price of 24 yuan. A lower PE of 25 corresponds to a target price of 20 yuan, making the current valuation attractive [5][13] Future Outlook - The company is expected to recover its ROE to favorable levels as software business improves, the G654E fiber gains traction, and computing power business revenue and profits enhance [14] - The software business related to public security is projected to recover, with expectations of turning losses into profits in the coming year [15] Recommended Stocks in Domestic Computing Power - Fenghuo Communication is recommended alongside other domestic computing power companies such as Runze Technology and Huafeng Technology, highlighting its promising development prospects [16]

湖北得伟君尚律师事务所关于 烽火通信科技股份有限公司 2021年限制性股票激励计划第二个解锁期解锁事 项的法律意见书 湖北得伟君尚律师事务所关于 烽火通信科技股份有限公司 2021年限制性股票激励计划第二个解锁期解锁事项的 法律意见书 （2024）得伟君尚字第 13317 号 致：烽火通信科技股份有限公司 根据湖北得伟君尚律师事务所（以下简称"本所"）与烽火通信科 技股份有限公司（以下简称"烽火通信"或"公司"）签署的《专项法律 服务合同》，本所担任公司《烽火通信科技股份有限公司2021年限制 性股票激励计划（草案）》（以下简称"2021年限制性股票激励计划" "激励计划"）的专项法律顾问。 本所根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公 司股权激励管理办法》（以下简称"《管理办法》"）等有关法律、 行政法规、规范性文件及《烽火通信科技股份有限公司章程》（以下 简称"《公司章程》"）的有关规定，就公司2021年限制性股票激励 计划第二个解锁期解锁事项出具本法律意见书。 对本所出具的本法律意见书，本所律师声明如下： 湖北得伟君尚律师事务 ...

转债代码：110062 转债简称：烽火转债 本次会议经审议通过了以下决议： 证券代码：600498 证券简称：烽火通信 公告编号：2024-063 烽火通信科技股份有限公司 第九届董事会第四次临时会议决议公告 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。 烽火通信科技股份有限公司（以下简称"公司"）第九届董事会第四次临时 会议，于 2024 年 11 月 11 日以通讯方式召开。本次会议的会议通知以书面方式 发送至董事会全体董事。会议应参加董事十一人，实际参加董事十一人，符合《公 司法》和《公司章程》的规定，会议合法有效。 本议案已经公司董事会薪酬与考核委员会会议审议通过，同意提交董事会审 议。 特此公告。 烽火通信科技股份有限公司 董事会 2024 年 11 月 12 日 以 9 票同意、0 票反对、0 票弃权，审议通过《关于公司 2021 年限制性股票 激励计划第二个解锁期解锁的议案》：根据公司《2021 年限制性股票激励计划（草 案）》的相关规定，公司 2021 年限制性股票激励计划第二个解锁期解锁条件已达 成， ...

根据公司《2021 年限制性股票激励计划（草案）》的相关规定，公司 2021 年 限制性股票激励计划第二个解锁期解锁条件已达成，同意激励计划涉及的 1,642 名激励对象的限制性股票按规定进行第二次解锁，其可解锁限制性股票共计 17,260,452 股。 监事会对本次解锁的 1,642 名激励对象进行了核查，确认激励对象不存在 被交易所公开谴责或宣布为不适当人选的情况，也不存在因重大违法违规行为被 中国证监会予以行政处罚的情况，并认为激励对象符合《上市公司股权激励管理 办法》以及公司《2021 年限制性股票激励计划（草案）》等的有关规定，作为公 司激励计划解锁的主体资格是合法、有效的；同意公司为激励计划的 1,642 名激 励对象办理第二次解锁手续。 特此公告。 烽火通信科技股份有限公司 监事会 2024 年 11 月 12 日 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。 烽火通信科技股份有限公司（以下简称"公司"）第九届监事会第二次临时 会议，于 2024 年 11 月 11 日以通讯方式召开。本次会议的会议通知于 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [1]. Core Views - The company reported a significant increase in profitability in Q3 2024, with a net profit of 1.76 billion yuan, representing a year-on-year increase of 37.85% [5]. - The company has shown resilience in its core business, particularly in optical communication, and has secured multiple contracts in operator procurement projects, highlighting its competitive strength [6]. - The company is expected to achieve revenue growth in the coming years, with projected revenues of 310.09 billion yuan, 348.41 billion yuan, and 375.30 billion yuan for 2024, 2025, and 2026 respectively [7][8]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved a revenue of 211.54 billion yuan, a year-on-year decrease of 6.23%, while the net profit was 3.94 billion yuan, an increase of 20.07% [5]. - The gross margin for Q3 2024 was reported at 23.64%, with a net margin of 2.42% [5]. Revenue Forecast - The company forecasts revenues of 310.09 billion yuan for 2024, with a slight decline of 0.4% year-on-year, followed by growth of 12.4% and 7.7% in 2025 and 2026 respectively [8][11]. - The projected net profits for the same years are 6.55 billion yuan, 9.01 billion yuan, and 10.51 billion yuan, indicating a strong growth trajectory [7][11]. Business Segments - The communication system equipment segment is expected to generate revenues of 245.18 billion yuan in 2024, with a year-on-year growth of 3.08% [9]. - The optical fiber and cable segment is projected to decline to 48.48 billion yuan in 2024, reflecting a year-on-year decrease of 10% [9]. Valuation - The company is assigned a dynamic PE range of 30-35X for 2025, corresponding to a fair value range of 22.82-26.62 yuan per share [7].

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。 转债代码：110062 转债简称：烽火转债 证券代码：600498 证券简称：烽火通信 公告编号：2024-062 烽火通信科技股份有限公司 关于公司 2024 年度向特定对象发行 A 股股票 获得中国信息通信科技集团有限公司批复的公告 （信科投管〔2024〕10 号），根据《上市公司国有股权监督管理办法》（国资委财 政部证监会令第 36 号）等有关规定，中国信科原则同意本次公司向特定对象发 行股份的总体方案。 公司本次向特定对象发行 A 股股票尚需获得公司股东大会审议通过、上海 证券交易所审核通过及中国证券监督管理委员会同意注册后方可实施。公司将根 据进展情况，及时履行信息披露义务，敬请投资者注意投资风险。 特此公告。 烽火通信科技股份有限公司 董事会 2024 年 10 月 31 日 烽火通信科技股份有限公司（以下简称"公司"）2024 年度向特定对象发行 A 股股票事项已经公司于 2024 年 10 月 11 日召开的第九届董事会第三次临时会 议审议通过，并已在上海证 ...

| 证券代码：600498 | 证券简称：烽火通信 公告编号：2024-061 | | --- | --- | | 转债代码：110062 | 转债简称：烽火转债 | 烽火通信科技股份有限公司 关于"烽火转债"转股价格调整暨转股停牌的公告 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法律责任。 重要内容提示： 证券停复牌情况：适用 因回购注销股权激励限制性股票,本公司的相关证券停复牌情况如下： | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | 110062 | 烽火转债 | 可转债转股停牌 | 2024/10/30 | 全天 | 2024/10/30 | 2024/10/31 | 一、关于"烽火转债"转股价格调整的相关规定 根据《烽火通信科技股份有限公司公开发行可转换公司债券募集说明书》（以 下简称"《募集说明书》"）发行条款以及中国证券监督管理委员会关于可转换公司 债券发行的有关规定， ...

Investment Rating - The investment rating for the company is "Buy" and it is maintained [8]. Core Views - The company has solidified its market position in the optical communication sector and is accelerating its AI business development. Its subsidiary, Changjiang Computing, has become a significant server supplier for operators, which is expected to open up revenue and profit growth opportunities [5][6]. Financial Performance - For the third quarter of 2024, the company reported revenue of 21.154 billion yuan, a year-on-year decrease of 6.23%. However, the net profit attributable to shareholders was 394 million yuan, reflecting a year-on-year increase of 20.07%. The net profit excluding non-recurring items was 369 million yuan, up 24.76% year-on-year [3][4]. Business Development - The company maintains a leading technological advantage in the optical communication industry, with a complete industrial chain from optical fibers to system equipment. It has secured key projects, including winning bids for 400G OTN network supply for major operators [4][5]. - Changjiang Computing is focusing on the growth of computing and storage businesses, becoming an important partner for Ascend servers. The company is actively expanding its market share in the AI server sector, with significant contracts from major operators [5][6]. Profit Forecast - The forecast for net profit attributable to shareholders for 2024-2026 is 702 million, 1.023 billion, and 1.516 billion yuan, representing year-on-year growth rates of 39%, 46%, and 48%, respectively. The corresponding price-to-earnings ratios are projected to be 31x, 21x, and 14x [5][6].