Financial Performance - The company reported a revenue of RMB 1.5 billion for the first half of 2024, representing a year-on-year increase of 15%[1] - Total revenue for the six months ended June 30, 2024, was approximately RMB 5,348.1 million, a decrease of approximately RMB 1,567.1 million or 22.7% compared to the same period last year[22] - Revenue for the six months ended June 30, 2024, was RMB 5,348,087,711, a decrease of 22.7% compared to RMB 6,915,183,145 in 2023[45] - Profit attributable to equity shareholders was approximately RMB 377.7 million, a decrease of approximately RMB 229.3 million or 37.8% compared to the same period last year[22] - Operating profit decreased significantly to RMB 163,201,651, down 76.1% from RMB 685,106,305 in the same period last year[45] - Net profit for the period attributable to shareholders was RMB 377,748,853, a decline of 37.7% compared to RMB 607,014,926 in 2023[45] - The total comprehensive income for the period was RMB 274,709,223, down 62.2% from RMB 726,563,470 in the previous year[51] - The company reported a decrease in total comprehensive income of RMB 21,679,843 for the six months ended June 30, 2024, compared to the previous period[101] User Metrics - User data showed an increase in active subscribers to 2.3 million, up 20% compared to the previous period[1] Revenue Expectations - The company expects revenue growth to continue at a rate of 10-15% for the second half of 2024[1] Product Development and Market Expansion - New product launches include a next-generation optical fiber cable, projected to increase market share by 5%[1] - The company is investing RMB 200 million in R&D for advanced technologies, focusing on enhancing production efficiency[1] - Market expansion efforts are underway in Southeast Asia, targeting a 30% increase in sales in that region by the end of 2024[1] Acquisitions and Partnerships - The company has completed the acquisition of a local competitor, expected to contribute an additional RMB 300 million in annual revenue[1] - A new strategic partnership with a leading telecom provider aims to enhance service offerings and customer reach[1] Financial Ratios and Dividends - The gross margin improved to 35%, up from 32% in the previous year, due to cost control measures[1] - The company plans to increase its dividend payout ratio to 40% of net profit, reflecting strong financial performance[1] - The Board did not recommend any interim dividend for the period[22] Asset and Liability Overview - Total current assets as of June 30, 2024, amounted to RMB 14,956.1 million, an increase from RMB 14,556.3 million as of December 31, 2023[23] - Total non-current assets as of June 30, 2024, were RMB 14,923.8 million, compared to RMB 14,586.0 million as of December 31, 2023[23] - Total assets as of June 30, 2024, were RMB 29,879.9 million, an increase from RMB 29,142.3 million as of December 31, 2023[29] - Total liabilities as of June 30, 2024, were RMB 15,331.5 million, compared to RMB 14,744.8 million as of December 31, 2023[27] - Shareholders' equity attributable to the Company was RMB 11,328.0 million as of June 30, 2024, slightly up from RMB 11,307.1 million as of December 31, 2023[29] Cash Flow Analysis - Cash inflows from operating activities totaled RMB 6,215,049,824, down 15.1% from RMB 7,321,329,406 in 2023[65] - The net cash inflow from operating activities was RMB 213,556,282, a decrease of 37.9% compared to RMB 343,973,709 in the previous year[65] - Cash inflows from investing activities amounted to RMB 1,184,083,955, an increase of 45% from RMB 816,879,837 in 2023[68] - The net cash outflow from investing activities was RMB 1,066,768,947, slightly higher than RMB 1,020,187,023 in the same period last year[68] - Cash inflows from financing activities reached RMB 3,462,342,827, an increase of 14.4% compared to RMB 3,026,954,447 in 2023[72] - The net cash inflow from financing activities was RMB 630,281,190, a decrease of 57.9% from RMB 1,496,423,882 in the previous year[72] Financial Statements and Compliance - The company’s financial statements were approved by the Board of Directors on August 23, 2024[42] - The financial statements were prepared in accordance with the "Accounting Standards for Business Enterprises," ensuring compliance and transparency[117] Shareholder Information - The company distributed RMB 350,152,160 to shareholders during the reporting period, with an additional distribution of RMB 50,734,313 to non-controlling interests, totaling RMB 400,886,473[96] - The total shareholders' equity at the end of the period was RMB 8,815,489,589, compared to RMB 8,656,845,377 at the beginning of the period, indicating an increase of approximately 1.84%[104] Financial Instruments and Assets - The Group's financial instruments include cash and cash equivalents, equity investments (excluding long-term equity investments), receivables, payables, loans, debenture payables, and share capital[168] - Financial assets are classified into three categories: measured at amortised cost, at fair value through other comprehensive income (FVOCI), and at fair value through profit or loss (FVTPL)[174] - Financial assets are not reclassified after initial recognition unless there is a change in the business model for managing financial assets[175]

2024 年半年度业绩说明会预告公告 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。 证券代码：601869 证券简称：长飞光纤 公告编号：临 2024-020 长飞光纤光缆股份有限公司 二、 业绩说明会召开的时间、地点 会议召开时间：2024年9月30日（星期一）15:00–16:00 会议召开方式：网络文字互动 会议召开网址：中国证券网路演中心（https://roadshow.cnstock.com） 投资者可于2024年9月29日17:00前将相关问题通过电子邮件发送至本公司投 资者关系邮箱：IR@yofc.com。本公司将于业绩说明会上对投资者普遍关注 的问题进行回答。 (一) 会议召开时间：2024 年 9 月 30 日（星期一）15:00–16:00 (二) 会议召开方式：网络文字互动 (三) 会议召开网址：中国证券网路演中心（https://roadshow.cnstock.com） 三、 参加人员 本公司执行董事兼总裁庄丹先生、独立董事李长爱女士、副总裁兼董事会秘 书郑昕先生、财务总监 Jinpei Yang ...

证券代码：601869 证券简称：长飞光纤 公告编号：临 2024-019 长飞光纤光缆股份有限公司 关于收购联营公司股权的公告 公司于 2024 年 8 月 23 日召开的第四届董事会第八次会议以同意 9 票、反对 0 票、弃权 3 票的表决结果审议通过了《关于收购宝胜（扬州）海洋工程电缆有 限公司 30%股权的议案》，同意公司出资参与在北京产权交易所公开挂牌的本次 交易方案，并授权公司管理层行使具体决策权及签署相关合同等法律文件。董事 Philippe Claude Vanhille（菲利普•范希尔）先生、Pier Francesco Facchini（皮埃尔 •法奇尼）先生及 Lars Frederick Persson（弗雷德里克•佩森）先生认为本次交易 符合公司多元化战略举措，利于公司业务拓展。虽然标的公司目前主要业务及收 入来源均在国内，但因 Draka Comteq B.V.（德拉克通信有限公司）的控股股东普 睿司曼集团在海外从事近似业务，上述三名由 Draka Comteq B.V.提名的董事基 于自身立场，对该议案投弃权票。 由于涉及商业秘密，避免其他潜在竞标者获知公司的竞标意愿，损害公司和 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2] Core Views - The report highlights that the short-term demand for optical fibers and cables is under pressure, but there are expectations for new technologies like hollow-core fibers to open up long-term growth opportunities [5][6] - The company reported a revenue of 5.348 billion yuan for the first half of 2024, a year-on-year decrease of 22.66%, with a net profit of 378 million yuan, down 37.77% year-on-year [5] - The gross margin improved to 27.90%, up 1.81 percentage points year-on-year, while the net margin was 7.06%, down 1.71 percentage points year-on-year [5] - The international strategy has shown significant results, with overseas revenue accounting for over 30% of total revenue, reaching 1.766 billion yuan in the first half of 2024 [5][6] Financial Summary - The company is expected to generate revenues of 13.174 billion yuan, 13.738 billion yuan, and 14.339 billion yuan for the years 2024, 2025, and 2026 respectively, with net profits of 1.002 billion yuan, 1.039 billion yuan, and 1.168 billion yuan for the same years [6][10] - The earnings per share (EPS) are projected to be 1.32 yuan, 1.37 yuan, and 1.54 yuan for 2024, 2025, and 2026 respectively [6][10] - The report provides a dynamic PE range of 20-22X for 2024, corresponding to a fair value range of 26.44-29.09 yuan [6] Business Segment Analysis - The revenue from the optical fiber and preform business is expected to decline to 2.985 billion yuan in 2024, while the cable business is projected to generate 5.052 billion yuan [8] - The optical devices and modules segment is anticipated to grow to 1.617 billion yuan in 2024, with a year-on-year growth of 10% [8] - Other products and services are expected to generate 3.259 billion yuan in 2024, reflecting a growth of 5% year-on-year [8] Market Comparison - The report compares the company with peers, indicating that the average PE for comparable companies is around 21 for 2024, suggesting a competitive market environment [9]

Investment Rating - The report maintains an "Accumulate" rating for the company with a target price of 33.77 yuan, unchanged from the previous rating [2][4]. Core Views - The report indicates an upward revision of profit forecasts while maintaining the target price and "Accumulate" rating. The company's performance aligns with expectations, and the acquisition of RFS contributes positively to investment returns. The main business remains under pressure, but innovation and cost reduction efforts keep the company in a leading position. The company continues its internationalization and diversification strategy [3][4]. Financial Performance - For the first half of 2024, the company achieved revenue of 5.348 billion yuan, a year-on-year decrease of 22.66%. The net profit attributable to shareholders was 378 million yuan, down approximately 37.8%, which meets market expectations. The gross margin improved by about 3.4 percentage points compared to 2023, aided by diversification [4]. - The acquisition of RFS in Germany and Suzhou confirmed a one-time gain of approximately 194 million yuan, positively impacting the company's performance [4]. Business Challenges and Innovations - The main business faces challenges, with the optical cable revenue declining by 29% to 1.929 billion yuan and fiber and optical rod revenue down approximately 31.4% to 1.279 billion yuan in the first half of 2024. Despite these challenges, the company maintains a leading position through continuous cost reduction and efficiency improvements, particularly in the artificial intelligence sector and long-distance applications [4]. Internationalization and Diversification - The company reported overseas revenue of 1.77 billion yuan in the first half of 2024, optimizing its overseas production capacity. The optical cable production capacity in Mexico has entered trial production, while expansions in Poland and Indonesia are progressing smoothly. The third-generation semiconductor market is also expanding, with the main factory in Wuhan expected to commence production in July 2025, becoming one of the largest and most advanced silicon carbide factories in China [4]. Financial Summary - The updated net profit forecasts for 2024-2026 are 614 million yuan, 873 million yuan, and 1.175 billion yuan, respectively, with corresponding EPS of 0.81 yuan, 1.15 yuan, and 1.55 yuan [4][9].

Financial Performance - Revenue for the six months ended June 30, 2024, was approximately RMB 5,348.1 million, a decrease of about RMB 1,567.1 million or 22.7% compared to the same period last year[2]. - Gross profit was approximately RMB 1,492.1 million, down by about RMB 312.3 million or 17.3% year-on-year[2]. - Net profit attributable to shareholders was approximately RMB 377.7 million, a decrease of about RMB 229.3 million or 37.8% compared to the previous year[2]. - Total comprehensive income for the period was approximately RMB 274.7 million, significantly lower than RMB 726.6 million in the previous year[4]. - Basic and diluted earnings per share were both RMB 0.50, down from RMB 0.80 in the same period last year[4]. - The company reported a significant loss of RMB 77,446,012 in the current period, compared to a loss of RMB 35,292,340 in the previous year[16]. - The company reported a pre-tax profit of RMB 86,776,642 for 2024, compared to RMB 170,258,683 in 2023, reflecting a decrease of approximately 48.9%[16]. - The net profit attributable to shareholders after excluding non-recurring gains and losses was approximately RMB 119.9 million, down about 78.7% from RMB 563.7 million in the same period of 2023[56]. - The company’s financial expenses increased by 305.0% to approximately RMB 88.2 million, mainly due to increased foreign exchange losses[61]. Revenue Breakdown - Revenue from domestic customers decreased by approximately 20.0%, while revenue from overseas customers decreased by approximately 27.6% compared to the same period last year[2]. - The main business revenue from optical fibers and preforms was CNY 1,279,090,877, while cable revenue was CNY 1,929,959,316 for the first half of 2024[12]. - Total external revenue for the group for the six months ended June 30, 2024, was RMB 5,348,087,711, with the fiber and preform segment contributing RMB 1,279,090,877, the cable segment RMB 1,929,959,316, and the optical devices and modules segment RMB 539,671,108[30]. - The company achieved overseas business revenue of approximately RMB 1,766.2 million, accounting for 33.0% of total revenue in the first half of 2024[88]. - The company’s diversified business revenue reached approximately RMB 2,139.0 million, representing 40.0% of total revenue in the first half of 2024[89]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to approximately RMB 29,879.9 million, compared to RMB 29,142.3 million as of December 31, 2023[6]. - Total liabilities increased to CNY 15,331,543,861 as of June 30, 2024, compared to CNY 14,744,846,456 at the end of 2023[7]. - Total equity attributable to shareholders reached CNY 11,328,044,672 as of June 30, 2024, compared to CNY 11,307,108,305 at the end of 2023[7]. - The debt-to-equity ratio as of June 30, 2024, was 40.0%, an increase from 31.6% as of December 31, 2023[66]. - As of June 30, 2024, the company's short-term borrowings amounted to RMB 2,315,084,520, an increase from RMB 1,749,536,836 as of December 31, 2023[48]. - The company's long-term borrowings, net of current portion, were RMB 5,932,956,283 as of June 30, 2024, compared to RMB 4,855,183,468 as of December 31, 2023[52]. Operational Efficiency - The operating cost for the first half of 2024 was CNY 3,856,020,124, compared to CNY 5,110,786,663 in the same period of 2023[11]. - The gross profit was approximately RMB 1,492.1 million, a decrease of about 17.3% from RMB 1,804.4 million in the same period of 2023, with a gross margin of 27.9%[58]. - Operating costs were approximately RMB 3,856.0 million, down 24.6% from RMB 5,110.8 million year-on-year, representing 72.1% of total revenue[58]. - The company reported a net cash outflow from operating activities of approximately RMB 130.4 million, primarily due to a decline in revenue during the period[67]. Market and Industry Insights - The domestic telecommunications industry showed stable operation, with mobile internet traffic reaching 160.4 billion GB in the first half of 2024, a year-on-year increase of 12.6%[81]. - The group highlighted the global fiber optic cable market's potential for growth, driven by increased digital transformation and infrastructure development in regions like North America and Europe[81]. - The company is optimistic about future demand for new fiber optic products driven by the growth of AI and data centers, with significant potential in both domestic and international markets[82]. - In the field of third-generation semiconductors, the company is making steady progress in the research, testing, and market expansion of advanced semiconductor products, particularly silicon carbide devices for the growing domestic new energy vehicle market, which saw a penetration rate surpassing 50% in June 2024[90]. Corporate Governance and Compliance - The board of directors resolved not to declare an interim dividend for this period[2]. - The audit committee has reviewed and discussed the unaudited interim results for the six months ending June 30, 2024, ensuring compliance with corporate governance standards[93]. - The company has adopted all provisions of the corporate governance code and has complied with all relevant regulations during the reporting period[94]. - Forward-looking statements made by the company are subject to risks and uncertainties, including market growth and regulatory changes, which may lead to significant differences from actual performance[97].

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 5,348,087,711, a decrease of 22.66% compared to CNY 6,915,183,145 in the same period last year[12]. - The net profit attributable to shareholders for the first half of 2024 was CNY 377,748,853, down 37.77% from CNY 607,014,926 in the previous year[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 119,882,362, a significant decline of 78.73% compared to CNY 563,654,980 in the same period last year[13]. - The net cash flow from operating activities was CNY 213,556,282, a decrease of 37.91% from CNY 343,973,709 in the previous year[13]. - Basic earnings per share decreased by 37.50% to CNY 0.50 compared to CNY 0.80 in the same period last year[14]. - Diluted earnings per share also decreased by 37.50% to CNY 0.50 from CNY 0.80 year-on-year[14]. - The company's gross margin improved from approximately 24.5% in 2023 to about 27.9% in the first half of 2024 due to production efficiency optimization and product structure improvement[29]. - The total profit for the first half of 2024 was CNY 347,106,566, significantly lower than CNY 681,034,731 in the same period last year, representing a decrease of 48.9%[106]. - The total comprehensive income for the first half of 2024 was CNY 274,709,223, down from CNY 726,563,470 in the same period last year, reflecting a decline of 62.2%[106]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 29,879,907,627, an increase of 2.53% from CNY 29,142,343,893 at the end of the previous year[13]. - The total liabilities increased to CNY 15,331,543,861 from CNY 14,744,846,456, representing a rise of about 4%[98]. - Current assets totaled CNY 14,956,103,546, up from CNY 14,556,294,870, indicating an increase of approximately 2.7%[96]. - Cash and cash equivalents decreased to CNY 3,613,623,788 from CNY 3,895,836,574, a decline of about 7.3%[96]. - Short-term borrowings increased to CNY 2,315,084,520 from CNY 1,749,536,836, reflecting a growth of about 32.4%[97]. - The company's long-term borrowings also rose to CNY 5,932,956,283 from CNY 4,855,183,468, an increase of approximately 22%[98]. - The company's total current liabilities decreased to CNY 8,400,716,167 from CNY 9,082,037,784, a reduction of approximately 7.5%[97]. Business Operations and Market Position - The company is a leading player in the fiber optic cable industry, benefiting from a strong technical foundation and extensive customer base[21]. - The company has adopted a vertically integrated business model, enhancing production efficiency and flexibility in response to market changes[22]. - The domestic communication industry showed stable operation, with mobile internet traffic reaching 160.4 billion GB, a year-on-year increase of 12.6%[18]. - The company achieved a market-leading position in the domestic operator market for ordinary optical cable products, with significant growth in high-margin new optical fiber products driven by the demand from data centers[30]. - The company has established a strong customer base, primarily consisting of the three major state-owned telecom operators, enhancing its understanding of market needs and product development trends[26]. - The company is actively expanding its research and development capabilities, focusing on next-generation optical fiber products to meet the growing demand in the communication industry[31]. Environmental and Regulatory Compliance - The company reported a hazardous waste emission of over 100 tons of waste hydrofluoric acid in 2023, categorizing it as a key regulatory item by the Wuhan Environmental Protection Bureau[61]. - The company’s wastewater and air emissions have consistently met or exceeded national environmental standards, with two self-inspections and one regulatory inspection confirming compliance in the first half of 2024[62]. - The company has implemented measures to reduce noise pollution, achieving compliance with national noise standards through regular monitoring and improvements[62]. - The company’s environmental management system has been certified, demonstrating its commitment to sustainable development and pollution prevention[62]. Research and Development - The company is focusing on market expansion and new product development as part of its strategic initiatives, although specific details were not disclosed in the call[103]. - Investment in R&D has increased by 25%, amounting to RMB 300 million, focusing on advanced optical fiber technologies[126]. - The company has launched a new product line that is projected to contribute an additional RMB 200 million in revenue by the end of 2024[130]. Future Outlook - The company expects a revenue growth guidance of 10-15% for the second half of 2024, driven by new product launches and market expansion[125]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025[127]. - A strategic acquisition of a local competitor is in progress, expected to enhance production capacity by 40%[128]. Related Party Transactions - The company reported a daily related party transaction amount that did not exceed the limit approved at the shareholders' meeting, with actual transactions totaling approximately RMB 1,200 million across various related parties[78]. - The company engaged in significant related party transactions, including procurement and sales with various joint ventures, with actual procurement from Sichuan LeFei Optical Technology Co., Ltd. amounting to RMB 340.18 million[78]. - The company committed to reducing related party transactions and ensuring fair pricing in all dealings with related parties, maintaining shareholder interests[77]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 26,077[90]. - The largest shareholder, China Huaxin Post and Telecommunications Technology Co., Ltd., holds 23.73% of the shares, totaling 179,827,794 shares[92]. - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 22.64% of the shares, totaling 171,608,849 shares[92]. - The company has not experienced any changes in its share capital structure during the reporting period[90].

证券代码：601869 证券简称：长飞光纤 公告编号：临 2024-017 长飞光纤光缆股份有限公司 第四届董事会第八次会议决议公告 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法律责任。 长飞光纤光缆股份有限公司（以下简称"公司"、"本公司"）第四届董事 会第八次会议于 2024 年 8 月 23 日以现场及通讯方式召开。会议通知和议案材料 等已按照《长飞光纤光缆股份有限公司章程》（以下简称"《公司章程》"）规 定送达各位董事审阅。会议应参加表决董事 12 名，实际参加表决董事 12 名（其 中 4 名独立董事），会议由董事长马杰先生主持。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。经与会董事认真审议， 以逐项投票表决方式通过了以下议案，并形成如下决议： 一、 审议通过公司《2024 年半年度报告及摘要、截至 2024 年 6 月 30 日止 六个月之中期业绩公告》 同意公司按照上市地上市规则、《公司章程》及证券监管部门的相关规定编 制的《2024 年半年度报告及摘要》，及截至 2024 年 6 月 ...

证券代码：601869 证券简称：长飞光纤 公告编号：临 2024-018 长飞光纤光缆股份有限公司 第四届监事会第六次会议决议公告 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法律责任。 长飞光纤光缆股份有限公司（以下简称"公司"）第四届监事会第六次会议 于 2024 年 8 月 23 日以现场及通讯方式召开。会议通知和议案材料等已按照《长 飞光纤光缆股份有限公司章程》（以下简称"《公司章程》"）规定送达各位监 事审阅。本次会议应参加表决监事 3 名，实际参加表决监事 3 名，会议由监事会 主席李平先生主持。会议的召集、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。 与会监事认为： 1、公司 2024 年半年度报告中的各项经济指标及所包含的信息真实、准确、 完整地反映了公司 2024 年半年度的财务状况和经营成果。 2、公司编制和审议 2024 年半年度报告的程序符合有关法律法规、《公司章 程》和公司内部管理制度的规定。 3、公司 2024 年半年度报告的内容和格式符合中国证监会和公司上市地证券 交易所的规 ...

中国北京建国门外大街 1 号国贸写字楼 2 座 12-14 层 100004 12-14th Floor, China World Office 2, No. 1 Jianguomenwai Avenue, Beijing 100004, China 电话 Tel: +86 10 6563 7181 传真 Fax: +86 10 6569 3838 电邮 Email: beijing@tongshang.com 网址 Web: www.tongshang.com 关于长飞光纤光缆股份有限公司 2023 年年度股东大会的法律意见书 致：长飞光纤光缆股份有限公司 北京市通商律师事务所(以下简称"本所")接受长飞光纤光缆股份有限公司 (以下简称"公司")的委托，委派律师出席了公司 2023 年年度股东大会(以下简称 "本次股东大会")，并根据《中华人民共和国公司法》《中华人民共和国证券法》 以及其他相关法律、法规及规范性文件(以下简称"相关法律法规")和《长飞光纤 光缆股份有限公司章程》(以下简称"公司章程")的相关规定，对本次股东大会召 开的合法性进行见证，并依法出具本法律意见书。 本法律意见书仅就本次股东大会的 ...