Investment Rating - The investment rating for the company is "Buy - A" with a target price of 14.1 CNY for the next six months [5][9]. Core Views - The company has shown steady revenue growth, with a reported revenue of 14.053 billion CNY in 2023, a year-on-year increase of 6.28%. However, the net profit attributable to shareholders decreased by 46.5% to 366.6 million CNY [1][4]. - The first quarter of 2024 saw a revenue increase of 22.33% year-on-year, reaching 3.557 billion CNY, but the net profit still declined by 44.39% [1][2]. Summary by Sections Financial Performance - In 2023, the company achieved a total revenue of 14.053 billion CNY, with a net profit of 366.6 million CNY. The first quarter of 2024 reported a revenue of 3.557 billion CNY and a net profit of 1.19 billion CNY [1][4]. - The company expects revenues to grow to 17.425 billion CNY in 2024, 21.259 billion CNY in 2025, and 26.574 billion CNY in 2026, with net profits projected at 1.279 billion CNY, 2.031 billion CNY, and 3.245 billion CNY respectively [4][10]. Industry Trends - The overall industry faced challenges in 2023, with low capacity utilization in the first three quarters. However, demand began to recover in the fourth quarter, leading to improved profitability through product structure adjustments [2][3]. - The company has made significant advancements in silicon carbide technology, with successful mass shipments of 6-inch substrates and completion of 8-inch substrate process trials [3][4]. Product Development - The company has expanded its product offerings in the silicon carbide sector, achieving AEC-Q101 certification for automotive-grade MOSFETs and establishing strategic partnerships with major global players [3][4]. - The production capacity for silicon carbide is expected to reach 8,000-10,000 wafers per month by the end of 2024, with plans to achieve full capacity by 2028 [3][4].

证券代码：600703 股票简称：三安光电 编号：临 2024-034 三安光电股份有限公司 关于公司募集资金存放与实际使用情况的专项报告 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。 二、募集资金管理情况 根据中国证监会发布的《上市公司监管指引第 2 号——上市公司募集资金管理和 使用的监管要求》和上海证券交易所发布的《上海证券交易所上市公司自律监管指引 第 1 号——规范运作》等有关规定，现将公司截至 2023 年 12 月 31 日募集资金存放 与实际使用情况报告如下： 一、 募集资金基本情况 2021 年度非公开发行 A 股股票募资资金 1、实际募集资金金额、资金到位时间 经中国证券监督管理委员会《关于核准三安光电股份有限公司非公开发行股票的 批复》（证监许可[2022]654 号）核准，公司本次实际非公开发行人民币普通股（A 股）509,677,419 股，每股面值人民币 1.00 元，每股发行认购价格为人民币 15.50 元，共计募集人民币 7,899,999,994.50 元，扣除发行费用（不含增值税）人民币 ...

三安光电股份有限公司 审计 报告 众环审字(2024) 0100711号 目 录 起始页码 审计报告 | 财务报表 | | | --- | --- | | 合并资产负债表 | | | 合并利润表 | | | 合并现金流量表 | 4 | | 合并股东权益变动表 | | | 资产负债表 | 7 | | 利润表 | 9 | | 现金流量表 | 10 | | 股东权益变动表 | 11 | | 财务报表附注 | 13 | F 育计报告 众环审字(2024)0100711 号 三安光电股份有限公司全体股东: 一、审计意见 我们审计了三安光电股份有限公司(以下简称"三安光电公司")财务报表,包括 2023 年 12月 31 日的合并及公司资产负债表,2023年度的合并及公司利润表、合并及公司现金 流量表、合并及公司股东权益变动表以及相关财务报表附注。 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制,公允反映了 三安光电公司 2023 年 12 月 31 日合并及公司的财务状况以及 2023 年度合并及公司的经营 成果和现金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。 ...

募集资金投资项目延期的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为三安光电股 份有限公司（以下简称"三安光电"或"公司"）2021 年度非公开发行股票的保荐机 构，根据《证券发行上市保荐业务管理办法》《上海证券交易所股票上市规则》《上市 公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》和《上海证券交易 所上市公司自律监管指引第 1 号——规范运作》等有关规定，对三安光电募集资金投资 项目延期事项进行了核查，并出具核查意见如下： 中信证券股份有限公司 关于三安光电股份有限公司 一、募集资金基本情况 | 序号 | 项目名称 | | 募集资金承诺投资 总额（万元） | | --- | --- | --- | --- | | 1 | 湖北三安光电有限公司 | Mini/Micro 显示产业化项目 | 690,000.00 | | 2 | 补充流动资金 | | 96,958.92 | | | | 合计 | 786,958.92 | 公司本次募集资金扣除发行费用后的募集资金净额将投入以下项目： 本次发行募集资金到账后，已全部存放于募集资金专项账户内。公司严格按照《上 市公司监管 ...

专项核查报告 营业收入扣除情况表 营业收入扣除情况表 起始页码 l [I 关于三安光电股份有限公司 2023年度营业收入扣除情况表 的专项核查报告 众环专字（2024）0100299号 录 目 [] l i 体 Fay. 027-85424320 关于三安光电股份有限公司 2023 年度营业收入扣除情况表 的专项核查报告 众环专字(2024)0100299 号 按照《上海证券交易所股票上市规则》及《上海证券交易所上市公司自律监管指南第 2 号 -- 业务办理》的规定,编制和披露营业收入扣除表,提供真实、合法、完整的核查证据, 是三安光电公司管理层的责任。我们的责任是在执行核查工作的基础上对营业收入扣除表发 表专项核查意见。 我们按照中国注册会计师审计准则的相关规定执行了核查工作。中国注册会计师审计准 则要求我们遵守中国注册会计师职业道德守则,计划和执行核查工作以对营业收入扣除表是 否不存在重大错报获取合理保证。在核查过程中,我们实施了包括检查会计记录、重新计算 相关项目金额等我们认为必要的程序。我们相信,我们的核查工作为发表核查意见提供了合 理的基础。 基于我们的核查,我们没有发现后附的《三安光电股份有限公司 ...

（以下无正文，以提示后页为签字页） （此页为三安光电股份有限公司独立董事关于第十一届董事会第十次会议相关事项 的独立意见之签字页） 独立董事： 黄兴孪 康俊勇 木志荣 1、关于公司2023年度关联交易情况及2024年度关联交易预计的独立意见 公司确认及预计的关联交易是因各子公司正常生产经营需要，交易遵循了公开、 公平、公正的原则，定价公允，决策程序合法，不存在损害公司和公司全体股东利益 的情况，不会影响公司的独立性。同意公司关联交易预计的内容和金额。 2、关于补充确认使用部分闲置募集资金进行现金管理的独立意见 本次补充确认使用部分闲置募集资金进行现金管理的事项，是公司在确保募集资 金投资项目正常进行和保证募集资金安全的前提下，为提高募集资金的使用效率，获 取一定的现金管理收益，进行的定期存款管理。该事项未对募资资金或公司日常生产 经营造成损失，不存在改变或变相改变募集资金用途和损害股东利益的情形，未违反 募集资金投资项目的有关承诺，不会影响募集资金投资项目的正常进行。同意公司补 充确认闲置募集资金进行现金管理并授权的事项。 三安光电股份有限公司独立董事 关于第十一届董事会第十次会议相关事项的独立意见 根据《上 ...

三安光电 2023年度社会责任报告 世界"芯" 三安造 0 关于本报告 报告组织范围 三安光电股份有限公司及下属子公司。 报告的时间范围 2023年1月1日至12月31日，部分数据及内容超出此范围。 报告发布周期 三安光电股份有限公司社会责任报告为年度报告，通常于次年第二季度发布上 年度的报告。 报告数据说明 1 企业文化 公司愿景 本报告披露的财务数据及内容如与年报有出入，以年报或审计报告为准，其他 数据来自公司内部统计。本报告中所涉及货币金额均以人民币为计量币种，特别说 明的除外。 报告编辑及数据来源说明 本报告中的财务数据来自2023年度合并财务报表，该报表已经过中审众环会计 师事务所（特殊普通合伙）独立审计，其他资料和数据主要来源于公司内部相关统 计报告或文件。 重要提示 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。 成为世界级化合物半导体研发、制造与服务平台 公司使命 让地球更环保、让人类更健康 三安精神 敢为人先 拼搏奉献 2 质量方针 品质为先 顾客满意 优质稳定 不断提高 价值观 科技创新 追求卓越 企业人才 ...

证券代码：600703 股票简称：三安光电 编号：临 2024-040 三安光电股份有限公司 关于续聘会计师事务所的公告 本公司及董事会全体成员保证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、准确和完整承担法律责任。 重要内容提示： 拟聘任的会计师事务所名称：中审众环会计师事务所（特殊普通合伙）（以 下简称"中审众环"）。 一、拟聘任会计师事务所的基本情况 （一）机构信息 1、基本信息 （1）机构名称：中审众环会计师事务所（特殊普通合伙）； （2）成立日期：中审众环会计师事务所始创于 1987 年，是全国首批取得 国家批准具有从事证券、期货相关业务资格及金融业务审计资格的大型会计师 事务所之一。根据财政部、证监会发布的从事证券服务业务会计师事务所备案 名单，中审众环具备股份有限公司发行股份、债券审计机构的资格。2013 年 11 月，按照国家财政部等有关要求转制为特殊普通合伙制。 （3）组织形式：特殊普通合伙企业 （4）注册地址：湖北省武汉市武昌区水果湖街道中北路 166 号长江产业大 厦 17-18 楼。 （5）首席合伙人：石文先 （6）2023 年末合伙人数量 216 人、注册 ...

证券代码：600703 证券简称：三安光电 公告编号：临 2024-042 一、 召开会议的基本情况 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 5 月 17 日 至 2024 年 5 月 17 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (六) 融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者的投 票，应按照《上海证券交易所上市公司自律监管指引第 1 号—规范运作》等有关 规定执行。 三安光电股份有限公司 关于召开 2023 年年度股东大会的通知 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： (七) 涉及公开征集股东投票权 无 股东大会召开日期：2024年5月17日 本次股东大会采用的网络投票系 ...

Financial Performance - The company's operating revenue for 2023 reached CNY 14.05 billion, an increase of 6.28% compared to CNY 13.22 billion in 2022[25]. - The net profit attributable to shareholders decreased by 46.50% to CNY 366.56 million from CNY 685.11 million in the previous year[25]. - The net cash flow from operating activities surged by 397.19% to CNY 3.98 billion, compared to CNY 800 million in 2022[25]. - The total assets as of the end of 2023 were CNY 57.68 billion, a decrease of 1.22% from CNY 58.39 billion at the end of 2022[25]. - The net assets attributable to shareholders increased by 0.94% to CNY 38.30 billion from CNY 37.95 billion in the previous year[25]. - The revenue from core business activities, after excluding unrelated income, was CNY 10.20 billion, up 3.93% from CNY 9.82 billion in 2022[25]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 1.09 billion, compared to a loss of CNY 310 million in 2022, reflecting a significant decline of 251.09%[25]. - The overall operating cost increased by 15.94% year-on-year due to fluctuations in raw material prices and increased sales volume of chips[38]. - The company reported a basic earnings per share of 0.07 RMB, down 53.33% from 0.15 RMB in 2022[26]. - The weighted average return on equity decreased to 0.97%, down 1.25 percentage points from 2.22% in 2022[26]. Dividend and Share Capital - The company plans to distribute a cash dividend of 0.30 CNY per 10 shares, totaling approximately 145.88 million CNY (including tax) based on a total share count of 4,862,598,107 shares after accounting for repurchased shares[5]. - The total share capital as of December 31, 2023, is 4,989,018,727 shares, with 126,420,620 shares held in the repurchase account[5]. - The company does not plan to issue bonus shares or increase capital reserves through stock conversion for the 2023 fiscal year[5]. - The total cash dividend amount (including tax) is approximately CNY 565 million, which accounts for 154.14% of the net profit attributable to ordinary shareholders in the consolidated financial statements[180]. - The net profit attributable to ordinary shareholders in the consolidated financial statements is approximately CNY 367 million, representing a ratio of 39.80% for cash dividends[180]. Risk Management - The management has emphasized the importance of risk awareness regarding forward-looking statements and potential investment risks[6]. - The management has outlined potential risks and countermeasures in the management discussion and analysis section of the report[8]. - The company confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[7]. - The company faces risks related to management challenges due to rapid scale expansion and potential industry and technology changes that could impact its competitive advantage[137]. - The company has a high level of inventory, which could affect cash flow efficiency if sales do not improve, posing a risk of inventory depreciation[139]. Governance and Management - The company has ensured that all board members attended the board meeting to approve the annual report[9]. - The report includes a comprehensive overview of the company's governance and social responsibility initiatives[11]. - The board of directors consists of seven members, including three independent directors, which is more than one-third of the total board[144]. - The company has established a comprehensive governance structure, including various committees such as strategy, nomination, audit, and remuneration[144]. - The company ensures independent operations from its controlling shareholder, with no instances of fund or asset occupation reported[145]. - The company has implemented strict insider information management practices to protect investor rights[145]. - The company’s information disclosure practices are compliant with regulations, ensuring equal access to information for all shareholders[145]. - The company has established a mechanism for independent directors to enhance corporate governance and protect minority shareholders' interests[144]. - The company has a structured process for determining the remuneration of directors and senior management, which involves discussions by the compensation committee[155]. - The company’s financial performance and management remuneration are closely linked to the achievement of operational goals[156]. Research and Development - Research and development expenses rose by 35.84% to CNY 793.91 million, indicating a strong focus on innovation[79]. - The company has reported a total R&D investment amounting to 1,735,674,179.52 CNY, representing 12.35% of total revenue, with 54.26% of R&D costs capitalized[92][95]. - The company employed 2,707 R&D personnel, making up 17.53% of the total workforce, with a significant portion holding advanced degrees[93]. - Major R&D projects included the development of high-performance filters and RF chip technologies, with total investments exceeding 8,742.63 million CNY for the sub 3GHz project[95]. - The company is committed to increasing R&D investment to drive technological breakthroughs and enhance product competitiveness, thereby building a technological moat[136]. Market Outlook - Future outlook includes continued investment in new technologies and potential mergers and acquisitions to drive growth[24]. - The company aims to improve operational efficiency and profitability in the upcoming fiscal year[24]. - The company is focusing on expanding its market presence and enhancing its product offerings in the LED and semiconductor sectors[24]. - The global LED lighting market size is projected to grow to $60.9 billion in 2024, recovering from a decline to $58.5 billion in 2023, which was a 5% year-on-year decrease[51]. - The global semiconductor market size was $526.8 billion in 2023, down 8.2% year-on-year, but is expected to grow by 13.1% in 2024, reaching $588 billion[56]. Environmental Responsibility - The company has reported no exceedances in pollutant emissions across its subsidiaries, ensuring compliance with environmental regulations[195]. - The company has maintained a focus on enhancing environmental facility management to further reduce emissions[196]. - The company has implemented various wastewater treatment systems, including acid-base neutralization and biochemical methods, to handle production wastewater effectively[198]. - The company has received multiple environmental impact assessment approvals for projects, including the LED industrialization project and sapphire substrate production, demonstrating compliance with environmental regulations[199]. - The company is committed to continuous improvement in environmental management, regularly conducting operational status checks on pollution control facilities[198]. Strategic Partnerships and Collaborations - The company has established strategic partnerships with global power giants, enhancing performance and efficiency in power, cooling, and IT infrastructure[47]. - The company plans to expand its market presence through a joint venture agreement signed with STMicroelectronics[147]. - The joint venture between Hunan Sanan and Ideal Auto, Suzhou Sico Semiconductor, has entered trial production, with full-size manual full-bridge power module samples delivered to customers, and mass production expected in August 2024[48]. - The joint venture Anifa, established by Hunan Sanan and STMicroelectronics, is projected to have a production capacity of 8,000-10,000 8-inch wafers per month by the end of 2024, with full capacity of 10,000 wafers per week expected by 2028[48].