证券简称：星宇股份 证券代码：601799 编号：临 2024-020 常州星宇车灯股份有限公司 第六届董事会第十七次会议决议公告 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。 一、董事会会议召开情况 1、本次董事会会议的召开符合有关法律、行政法规、部门规章、规范性文 件和《公司章程》的规定。 2、本次会议的通知和材料于 2024 年 8 月 5 日以电话、电子邮件、现场送 达方式发出。 3、本次会议于 2024 年 8 月 15 日在公司以现场结合通讯表决方式召开。 公司董事会审计委员会对公司编制的 2024 年半年度财务会计报表进行了事 前审议，未发现报表中存在异常情况，认为财务会计报表能够反映公司的财务状 况和经营成果，同意提交董事会审议。 《常州星宇车灯股份有限公司 2024 年半年度报告》全文及摘要的内容与本 公告同日披露于上海证券交易所网站（www.sse.com.cn）。 第 1 页 共 3 页 证券简称：星宇股份 证券代码：601799 编号：临 2024-020 4、本次会议应当出席董事七名，七名董事 ...

证券简称：星宇股份 证券代码：601799 编号：临 2024-023 本次利润分配预案尚需提交股东大会审议。 二、公司履行的决策程序 常州星宇车灯股份有限公司 关于 2024 年半年度利润分配方案的公告 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: 一、利润分配方案内容 母公司 2024 年半年度实现净利润 650,449,279.69 元，加上以前年度未分配 利润 4,889,419,393.71 元，扣除 2024 年发放的 2023 年度股东现金红利 340,521,892.8 元，期末可供股东分配的利润为 5,199,346,780.60 元。。 经董事会决议，公司 2024 年半年度拟以实施权益分派股权登记日登记的总 股本为基数分配利润。本次利润分配预案如下： 公司拟向全体股东每 10 股派发现金红利 2.00 元（含税）。截至 2024 年 6 月 30 日，公司总股本 285,679,419 股，扣除已回购股份 1,911,175 股，以此计算合 计拟派发现金红利 56,753,648. ...

常州星宇车灯股份有限公司 证券简称：星宇股份 证券代码：601799 编号：临 2024-022 2024 年半年度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个别及连带责任。 一、募集资金基本情况 （一）募集资金到位情况 （1）2020 年公开发行可转换公司债券募集资金情况 根据公司 2020 年第一次临时股东大会决议，并经中国证券监督管理委员会证监许可 [2020]2262 号《关于核准常州星宇车灯股份有限公司公开发行可转换公司债券的批复》核 准，公司公开发行面值总额为人民币 1,500,000,000.00 元的可转换公司债券，每张债券面 值为 100 元，共计 15,000,000.00 张，债券期限为 6 年，募集资金总额为 1,500,000,000.00 元，扣除发行费用不含税金额人民币 9,395,283.00 元，实际募集资金净额为人民币 1,490,604,717.00 元，上述募集资金业经天衡会计师事务所（特殊普通合伙）天衡验字（2020） 00131 号验资报告验证。 （二 ...

Group 1: General Principles of Investor Relations Management - The investor relations management aims to enhance communication with investors and protect their rights, especially those of small and medium investors [1] - The basic principles include compliance, equality, proactivity, and integrity [2][3] Group 2: Content and Methods of Investor Relations Management - Key communication topics include legal information disclosure, company strategy, management information, and environmental and social responsibility [2][3] - Multiple channels and platforms should be utilized for communication, including the company website, phone, email, and investor meetings [3][4] Group 3: Responsibilities and Organization - The board secretary is responsible for organizing investor relations activities, supported by the board and senior management [6][7] - The investor relations management team must handle inquiries, complaints, and suggestions from investors [7][8] Group 4: Disclosure and Transparency - The company must disclose information in a timely manner through designated media and ensure that no significant information is leaked before official announcements [3][8] - All disclosed information must be accurate, clear, and free from misleading statements [8][9] Group 5: Training and Documentation - Staff involved in investor relations should possess good character, professional knowledge, and communication skills [9][10] - A comprehensive documentation system for investor relations activities must be established, including participant details and communication content [10][11]

证券简称：星宇股份 证券代码：601799 编号：临 2024-024 常州星宇车灯股份有限公司 关于修订《公司章程》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。 根据《上海证券交易所上市公司自律监管指引第 1 号——规范运作（2023 年 12 月修订）》 《上市公司监管指引第 3 号——上市公司现金分红（2023 年修订）》《上市公司章程指引（2023 修正）》等有关法律、行政法规和规范性文件的规定并结合公司实际情况，对《公司章程》 进行修改，具体内容如下： | 修订前 | 修订后 | | --- | --- | | 第一百九十四条 公司股东大会对利润 | 第一百九十四条 公司股东大会对利润 | | 分配方案作出决议后，公司董事会须在股东 | 分配方案作出决议后，或公司董事会根据年 | | 大会召开后 2 个月内完成股利(或股份)的派 | 度股东大会审议通过的下一年中期分红条件 | | 发事项。 | 和上限制定具体方案后，公司董事会须在股 | | | 东大会召开后 2 个月内完成股利(或股份)的 | | | ...

Summary of Conference Call Company and Industry Involved - The conference call focuses on the technology sector, specifically discussing the company "吸引股份" (Attract Holdings) and its relationship with Huawei's industry developments [1]. Core Points and Arguments - The chief analyst, 戴昌, expressed gratitude for the attendees joining the call at 8 PM, indicating the importance of the discussion [1]. - The main theme of the call is the gross profit and financial review and outlook of Attract Holdings, particularly in the context of the technology sector [1]. - A previous in-depth report was released earlier in the year, highlighting significant developments that are seen as a turning point for Attract Holdings [1]. - The analysis emphasizes the impact of Huawei's policies and industry dynamics on Attract Holdings, suggesting that these factors are crucial for understanding the company's future performance [1]. Other Important but Possibly Overlooked Content - The timing of the call suggests a strategic effort to align investor expectations with the company's outlook amidst ongoing changes in the technology landscape [1]. - The reference to the months of August and September indicates a focus on recent trends and developments that may influence the company's trajectory [1].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company is expected to benefit from a threefold growth cycle driven by industry trends, customer structure optimization, and internal business development [25][26] - The automotive lighting industry is transitioning towards intelligent lighting solutions, which will expand product categories and increase average selling prices (ASP) [25] - The company has successfully penetrated into leading domestic and new energy vehicle manufacturers, which is anticipated to drive revenue growth [25][26] Summary by Sections 1. Analysis of Core Factors Affecting Profitability - Profitability is influenced by gross margin, expense ratio, customer structure, product structure, raw material costs, annual depreciation, and scale effects [11][12] - The company has transitioned its customer base from low-end domestic to high-end joint ventures and foreign clients, enhancing its product structure towards higher-end lighting solutions [12][16] 2. Review and Outlook of Profitability - The company's profitability has experienced three phases: declining from 2013-2016, improving from 2016-2020, and declining again from 2020-2023 [16][17] - The gross margin is projected to recover from 21.18% in 2023 to 22.50% by 2026, driven by a shift towards higher-end products and improved customer structure [22][26] 3. Earnings Forecast and Rating - The company is expected to achieve revenues of 129 billion, 159 billion, and 192 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 26%, 23%, and 21% [26] - The net profit is forecasted to reach 15.2 billion, 19.2 billion, and 24.1 billion yuan for the same years, with growth rates of 38%, 26%, and 25% [26] - The report maintains a "Buy" rating based on the company's strong market position and growth potential [26]

Investment Rating - The report initiates coverage with a rating of "Buy" for the company [4]. Core Views - The company is a leading manufacturer in the automotive lighting industry, with a steady increase in market share from 6% in 2018 to 14% in 2021, driven by the acceleration of LED penetration and the rise of intelligent lighting applications [1][11]. - The shift towards smart lighting and domestic alternatives is reshaping the industry, with increasing vehicle value per unit as the demand for interactive and design-oriented lighting grows [1][28]. - The company's core clients are transitioning to new energy vehicles, which is expected to drive revenue growth alongside global expansion efforts [1][20]. - Continuous product upgrades are leading to an increase in average selling price (ASP), with significant advancements in lighting technology [1][31]. Summary by Sections Company Overview - Established in 1993, the company has focused on the automotive lighting sector, developing a comprehensive R&D system and a wide range of products including headlights, taillights, fog lights, and ambient lights [1][16]. - The company has maintained a revenue share of over 85% from automotive lighting since 2011, indicating a strong focus on its core business [16]. Industry Trends - The automotive lighting industry is experiencing a shift towards smart and interactive lighting solutions, with LED technology becoming mainstream [31][35]. - The penetration rate of LED headlights has increased significantly from 20.23% in 2017 to 64.25% by the end of 2022, indicating a strong growth trajectory [31][33]. - The demand for intelligent lighting systems is expected to rise as the automotive industry moves towards electrification and automation [35][43]. Product and Customer Upgrades - The company is enhancing its product offerings and customer base, with a focus on new energy vehicles and global market expansion [1][20]. - The ASP of lighting products is expected to rise due to continuous upgrades and the introduction of high-value products [1][22]. - The company has established a strong presence in the supply chains of major automotive brands, including both traditional and new energy vehicle manufacturers [20][18]. Financial Projections - The company is projected to achieve net profits of 1.48 billion, 1.90 billion, and 2.30 billion yuan for the years 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 24, 19, and 15 times [2][4]. - The report anticipates that the combination of revenue growth from new energy vehicle clients and product upgrades will enhance profit margins [2][22].

大家好欢迎参加西部汽车带来的深度报告解读知识与股份客户结构优化明显车动龙头开启全球化征程目前所有从者均处境状态下面开始播报免责声明声明播报完毕后主持人可开始发言谢谢 本次电话会议服务于西部证券研究所客户不构成投资建议相关人员应自主作出投资决策并自行承担投资风险西部证券不应使用本次内容所导致的任何损失承担任何责任专家发言内容仅代表专家个人观点不代表本公司观点 涉及国家保密信息内幕信息未公开重大信息商业秘密个人脸词不得涉及可能引发不当炒作或股价异常波动的敏感信息不得涉及影响社会或资本市场稳定的言论未经西部证券事先书面许可任何机构或个人不得以任何形式复制刊载转载转发引用本次会议内容否则由此造成的一切后果及法律责任由该机构或个人承担本公司保留追究其法律责任的权利 各位投资者晚上好我是西部汽车的研究员齐天祥今天的话和我们的同事张磊一起然后也向大家一起汇报一下我们关于星宇股份的一个深度报告那么星宇的话我们觉得也是一家非常优秀的公司而且车灯这个行业来讲的话其实一直有一些新产品的迭代并且的话星宇现在来讲的话客户结构整体的调整的话也还是比较顺利的那么我们对这公司一直都还是比较看好 后续的话也请张磊向各位领导然后详细的汇报一下我 ...

星宇股份(601799.SH) 高端化与全球化共振,自主车灯龙头未来可期 智能化加速车灯升级,千亿市场空间广阔。车灯是汽零领域的黄金赛道, 灯源升级(卤素-氙气-LED/OLED/激光)及智能化(AFS-ADB-DLP)加持, 单车价值量成倍增长。ADB 可自动切换远近光灯,能防眩光且识别能力更 强,是当前智能车灯的主流方案,2023 年起,特斯拉、华为、小米等新能 源企业配置意愿强,传统合资也陆续上车。更高阶的智能车灯系统还可以 采集分析车道信息、检测来车距离,协助识别并处理紧急事件。DLP 车灯 尚处于发展初期,核心器件成本高,部分车型提供选配。根据 Moder intelligence 数据,考虑光源、智能化等升级,预计到 2027 年,全球车灯 市场达 481.1 亿美元(折算人民币 3497.6 亿元),复合增长率为 6.55% 高壁垒、高集中,梯队明显、自主突围。车灯技术难、质量要求高、客户 认证周期长、研发投入大,参与企业需要有较好的成本管控能力以及和 主机厂同步开发的能力,进入门槛较高,市场高度集中,竞争者之间梯 队明显。根据 marklines 数据,2023 年,前照灯市场,小糸、法雷奥、 ...