Financial Performance - In 2023, the company's operating revenue was approximately RMB 13.35 billion, a decrease of about 3.45% compared to RMB 13.83 billion in 2022[22]. - The net profit attributable to shareholders increased to approximately RMB 1.30 billion in 2023, representing a growth of 11.18% from RMB 1.17 billion in 2022[22]. - The net profit after deducting non-recurring gains and losses was RMB 729.97 million, a decrease of 25.67% compared to RMB 982.06 million in 2022[16]. - The company's total assets grew by 3.33% to RMB 29.14 billion at the end of 2023, compared to RMB 28.20 billion at the end of 2022[16]. - The company reported a net cash flow from operating activities of approximately RMB 1.51 billion, a decrease of 5.02% from RMB 1.59 billion in 2022[16]. - The company's gross margin improved from 23.45% in 2022 to 24.50% in 2023[22]. - The company's total revenue for the year 2023 was 1,335,000,000, with a year-over-year increase of 28.46% from 2022[46]. - The company achieved a gross profit margin of 24.50% in 2023, an increase of approximately 1.05 percentage points compared to 2022, despite market challenges[70]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 5.14 per 10 shares, totaling approximately RMB 389.56 million based on a total share capital of 757,905,108 shares as of December 31, 2023[4]. - The total number of ordinary shareholders as of the end of the reporting period is 26,113[168]. - The largest shareholder, China Huaxin Post and Telecommunications Technology Co., Ltd., holds 179,827,794 shares, accounting for 23.73% of the total shares[169]. - The second largest shareholder, Holland Draka Communication Technology Co., Ltd., also holds 179,827,794 shares, representing 23.73%[169]. - The company has a diversified ownership structure with no single shareholder able to control the board or general meetings[173]. Audit and Compliance - The company has received a standard unqualified audit report from KPMG Huazhen, ensuring the authenticity and completeness of the financial report[3]. - The company has not faced any penalties from securities regulatory authorities in the past three years[103]. - The company has established a comprehensive internal control system covering subsidiaries, focusing on financial, funding, procurement, sales, and inventory risks[128]. - The company received a standard unqualified opinion in the internal control audit report conducted by KPMG[129]. Risk Management - The company has detailed risk factors in the report, which investors should review[6]. - The company emphasizes the importance of investment risk awareness in its forward-looking statements[5]. - The company is facing market risks due to the evolving 5G application scenarios and potential price declines in terminal products, which could adversely affect its performance[77]. - The company emphasizes the importance of risk control measures in its investment strategies to mitigate potential market and operational risks[110]. Business Operations and Strategy - The company has subsidiaries including Changxinsheng (Wuhan) Technology Co., Ltd. and Bochuang Technology Co., Ltd.[9]. - The company maintained a high proportion of overseas business, significantly enhancing its brand influence in international markets[22]. - The company has made substantial progress in the fields of optical modules, optical devices, third-generation semiconductors, marine engineering, and industrial lasers, optimizing its business structure[35]. - The company is actively developing new businesses beyond its core products, but any failure to meet growth expectations in these areas could negatively impact its financial performance[81]. - The company is exploring new product development and market expansion strategies to enhance its competitive position[93]. Research and Development - The company applied for 291 patents and was granted 166 patents in 2023, with one patent winning the 24th China Patent Excellence Award[34]. - Research and development expenses totaled 774,993,271, accounting for 5.80% of total revenue[49]. - The company is investing heavily in R&D, with a budget increase of 25% to enhance product innovation and technology[95]. Environmental and Social Responsibility - The company invested ¥1,789.39 million in environmental protection during the reporting period[133]. - The company reduced carbon emissions by 9,324 tons through various carbon reduction measures, including the renovation of low-voltage distribution systems and the installation of variable frequency devices[141]. - The company has implemented a carbon management program to achieve carbon reduction and carbon neutrality goals[142]. - The company completed four self-inspections and two supervisory inspections by the environmental protection bureau, with all emissions meeting standards[135]. Corporate Governance - The company is committed to maintaining high corporate governance standards, ensuring that all shareholders can exercise their rights equally[83]. - The company’s management team has undergone changes with the election of new board members and supervisors[88]. - The company’s nomination and remuneration committee reviewed the performance evaluation and remuneration of senior management, confirming compliance with relevant laws and regulations[102]. - The company is committed to transparency, with detailed disclosures available on the Shanghai Stock Exchange website regarding investment and acquisition announcements[111].

本报告仅供 Choice 东方财富 使用，请勿传阅。 公司快报 2024 年 03 月 29 日 长飞 光纤(601869.SH) 证券研究报告 Q4 净利润大幅提升，光纤光缆毛利率 线缆 投资评级 买入-A 实现增长 维持评级 6个月目标价 34.68元 事件： 股价 (2024-03-29) 29.42元 2024年 3月29日，公司发布2023 年年度报告。2023年公司实现 营业收入 133.53 亿元，同比下降 3.45%；实现归母净利润 12.97 交易数据 亿元，同比增长 11.18%；实现扣非归母净利润 7.30 亿元，同比 总市值(百万元) 21,585.14 下降 25.67%；实现基本每股收益 1.71元，同比增长11.04%。 833365999 流通市值(百万元) 11,572.52 总股本(百万股) 757.91 直面市场压力，Q4 单季度净利润大幅提升： 流通股本(百万股) 406.34 2023 年，全球通信行业面临短期需求承压的挑战，公司直面市场 12个月价格区间 22.52/41.4元 压力，通过优化产品结构、加强成本控制、持续开拓市场等措施 巩固了领先的市场地位，确保了稳 ...

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 13,352.8 million, a decrease of approximately 3.5% compared to RMB 13,830.3 million in 2022, which had an increase of approximately 45.0%[2] - Gross profit was RMB 3,272.0 million with a gross margin of 24.5%, compared to a gross margin of 23.5% in 2022[2] - Net profit attributable to shareholders was RMB 1,297.4 million, an increase of approximately 11.2% from RMB 1,166.0 million in 2022, which had an increase of approximately 64.7%[2] - The company reported a decrease of approximately 1.9% in revenue from domestic operations compared to the previous year, while overseas revenue also saw a decline[2] - Basic earnings per share for 2023 were RMB 1.71, compared to RMB 1.54 in 2022[4] - The operating profit for 2023 was RMB 2,371,956,405, down from RMB 3,243,227,123 in 2022, indicating a decline of 26.8%[11] - The net profit for 2023 was RMB 1,176,937,924, compared to RMB 1,142,700,191 in 2022, showing a slight increase of 3.0%[11] - The consolidated net profit attributable to ordinary shareholders for 2023 was RMB 1,297,437,793, an increase from RMB 1,166,998,457 in 2022, representing a growth of approximately 11.2%[21] - Basic earnings per share for 2023 increased to RMB 1.71 from RMB 1.54 in 2022, reflecting a growth of about 11.0%[21] - Diluted earnings per share for 2023 also rose to RMB 1.71 compared to RMB 1.54 in 2022, indicating a similar growth rate of approximately 11.0%[24] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 29,142.3 million, an increase from RMB 28,203.3 million in 2022[7] - Total liabilities increased to RMB 14,744.8 million in 2023 from RMB 13,666.2 million in 2022[7] - The total amount of short-term borrowings as of December 31, 2023, was RMB 1,749,536,836, slightly down from RMB 1,754,882,426 a year earlier[45] - The total amount of long-term borrowings as of December 31, 2023, was RMB 4,855,183,468, an increase from RMB 3,950,988,482 in the previous year[49] - The total bank borrowings (short-term and long-term) amounted to RMB 7,840,135,095 as of December 31, 2023, compared to RMB 5,915,291,136 in the previous year[50] - The total accounts payable as of December 31, 2023, was RMB 1,787,840,959, a decrease from RMB 2,031,652,081 in the previous year[47] Research and Development - Research and development expenses were RMB 774.99 million, slightly down from RMB 783.89 million in 2022[3] - The company’s R&D expenses were significantly impacted by tax deductions, amounting to RMB 156,090,370 in 2023[14] - The company plans to continue expanding its market presence and investing in research and development to enhance product offerings and technological advancements[26] Dividends - The company proposed a final dividend of RMB 0.462 per share for the year ended December 31, 2023[2] - The board proposed a final dividend of RMB 0.514 per share for the year ending December 31, 2023, totaling RMB 389,563,226, an increase from RMB 0.462 per share in 2022[97] Market and Operations - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[10] - The company has maintained an overseas business proportion of over 30%, indicating significant brand influence[88] - In 2023, the company's overseas business revenue reached approximately RMB 4.343 billion, accounting for 32.5% of total revenue, maintaining over 30% for three consecutive years[91] - The company has deployed nearly 2 million core kilometers of G.654.E optical fiber globally, supporting high-speed transmission technologies such as 400G and 800G[90] - The company has achieved a production efficiency improvement in its overseas production bases, meeting the certification requirements of major international operators[91] Financial Management - The company has implemented a robust financing and financial policy to minimize financial risks while ensuring sufficient resources for operations and future investments[72] - The company has completed a total of approximately RMB 3.6 billion in equity financing for its third-generation semiconductor project, which aims to produce 360,000 SiC MOSFET wafers annually[93] Corporate Governance - The audit committee consists of three members, including independent non-executive directors, and is chaired by Mr. Song Wei[101] - The consolidated financial statements for the year ended December 31, 2023, have been reviewed and found consistent with the amounts reported by KPMG[102] - The company has adopted all provisions of the corporate governance code and complied with them for the year ended December 31, 2023[103] Subsidiaries and Acquisitions - The acquisition of Shenzhen Jinda Optical Co., Ltd. was completed on March 3, 2023, and its financial performance has been included in the group's consolidated financial statements since then[76] - The company plans to acquire 100% equity of RFS Germany and RFS Suzhou, with the transaction expected to be completed soon, integrating these entities into its consolidated financial statements[100] Risks and Uncertainties - The company anticipates potential risks and uncertainties affecting its future performance, including the growth of the Chinese telecom market and regulatory changes[105]

长飞光纤光缆股份有限公司 关于独立董事 2023 年度独立性自查情况的专项报告 长飞光纤光缆股份有限（以下简称"公司"）于近日收到独立董事 Bingsheng Teng（滕斌圣）先生、宋玮先生、黄天祐博士及李长爱女士出具的《独立性情况 自查表》。根据《上市公司独立董事管理办法》《上海证券交易所上市公司自律监 管指引第 1 号——规范运作》的有关规定，公司董事会就公司在任独立董事 Bingsheng Teng（滕斌圣）先生、宋玮先生、黄天祐博士及李长爱女士的独立性 情况进行评估并出具如下专项意见： 经核查独立董事 Bingsheng Teng（滕斌圣）先生、宋玮先生、黄天祐博士及 李长爱女士的任职经历以及签署的相关自查文件，上述人员未在公司担任除独立 董事以外的任何职务，也未在公司主要股东担任任何职务，与公司以及公司主要 股东之间不存在利害关系或其他可能妨碍其进行独立客观判断的关系，符合《上 市公司独立董事管理办法》《上海证券交易所上市公司自律监管指引第 1 号—— 规范运作》中关于独立董事独立性的相关要求。 长飞光纤光缆股份有限公司董事会 二〇二四年三月二十八日 ...

证券代码：601869 证券简称：长飞光纤 公告编号：临 2024-004 长飞光纤光缆股份有限公司 关于续聘公司 2024 年度审计机构的公告 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： 拟续聘的会计师事务所名称：毕马威华振会计师事务所（特殊普通合伙） 长飞光纤光缆股份有限公司（以下简称"公司"）于 2024 年 3 月 28 日召开 第四届董事会第四次会议，审议通过了《关于续聘毕马威华振会计师事务所（特 殊普通合伙）为公司 2024 年度审计机构的议案》，同意续聘毕马威华振会计师 事务所（特殊普通合伙）为公司 2024 年度财务审计机构及内部控制审计机构。 本事项尚需提交公司股东大会审议批准。 一、 拟续聘会计师事务所的基本情况 1、 基本信息 毕马威华振会计师事务所于 1992 年 8 月 18 日在北京成立，于 2012 年 7 月 5 日获财政部批准转制为特殊普通合伙的合伙制企业，更名为毕马威华振会计师 事务所（特殊普通合伙）（以下简称"毕马威华振"），2012 年 7 月 10 日取得 工商营业 ...

证券代码：601869 证券简称：长飞光纤 公告编号：临 2024-008 长飞光纤光缆股份有限公司 关于第一期员工持股计划存续期展期的公告 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。 长飞光纤光缆股份有限公司（以下简称"公司"）第四届董事会第四次会议 于 2024 年 3 月 28 日召开，审议通过了《关于长飞光纤光缆股份有限公司第一期 员工持股计划存续期展期的议案》，具体情况如下： 二、 公司第一期员工持股计划存续期展期情况 根据公司《第一期员工持股计划（草案）》的规定，员工持股计划的存续期 经出席持有人会议的持有人所持 2/3 以上份额同意并提交公司董事会审议通过后， 员工持股计划的存续期可以延长。 鉴于员工持股计划存续期将于 2024 年 5 月 8 日到期，基于对公司价值的认 可及当前 H 股证券市场情况，员工持股计划管理委员会于近日召开员工持股计 划第三次持有人会议，经出席持有人会议的持有人所持 2/3 以上份额同意，决 定将员工持股计划的存续期延长 36 个月，即存续期延长至 2027 年 5 月 8 日止。 ...

长飞光纤光缆股份有限公司 Yangtze Optical Fibre and Cable Joint Stock Limited Company* * 仅供识别 1 公司章程 指 经公司2013年度股东大会通过的上市后适用的《长飞光纤光 缆股份有限公司章程（草案）》及其不时之修订 ； 董事会 指 公司董事会 ； 委员会 指 公司董事会提名及薪酬委员会 ； 公司 指 长飞光纤光缆股份有限公司 ； 公司法 指 《中华人民共和国公司法》； 董事 指 公司所有的董事，且董事指任何一位董事 ； 集团 指 公司及其子公司 ； 香港上市规则 指 《香港联合交易所有限公司证券上市规则》； 独立非执行董事 指 符合上市规则独立定性规定的非执行董事，且独立非执行董 事指任何一位独立非执行董事 ； 上市规则 指 公司股票上市的证券交易所适用的上市规则 ； （在中华人民共和国注册成立的股份有限公司） （股份代号 ：6869） 董事会提名及薪酬委员会工作细则 （于二零一四年五月六日通过，于二零二四年三月二十八日更新） 定义 于本工作细则内，除非文义另有所指外，下列词汇具有以下含义 ： 高级管理人员 指 公司的总裁、高级副总裁、副总裁、 ...

2023 年度独立董事述职报告 2023 年度，本人李长爱，作为长飞光纤光缆股份有限公司（以下简称"公 司"）独立董事，严格按照《公司法》《上市公司独立董事管理办法》等法律法 规、监管规则及《公司章程》《独立董事工作细则》的有关规定，按照独立董事 职责和权利，勤勉尽责，认真出席会议，对相关事项发表了客观、公正的独立意 见，维护了包括中小股东在内的全体股东和公司整体利益。现将本人 2023 年度 履职情况报告如下： 长飞光纤光缆股份有限公司 一、 独立董事的基本情况 作为公司独立董事，本人拥有会计等相关资质及能力，以及丰富的专业经验。 本人工作履历及任职情况如下： | 姓名 | 工作履历 | 专业 背景 | 兼职情况 | 是否存在 影响独立 性的情况 | | --- | --- | --- | --- | --- | | | 李长爱女士现任湖北经济学院会计 学院教授（二级）。李长爱女士同时 兼任中国会计学会理事、湖北省会 | | 担任独立非执行董事的 公司：湖北科峰智能传 动股份有限公司、武汉 | | | 李长爱 | 计学会常务理事、湖北省审计学会 | 会计 | 格蓝若智能技术股份有 | 否 | | | 常务理 ...

长飞光纤光缆股份有限公司 Yangtze Optical Fibre and Cable Joint Stock Limited Company* （在中华人民共和国注册成立的股份有限公司） * 仅供识别 1 公司章程 指 公司2013年度股东大会通过的上市后适用的《长飞光纤光缆 股份有限公司章程（草案）》及其不时之修订 ； 董事会 指 公司董事会 ； 委员会 指 公司董事会审计委员会 ； 公司 指 长飞光纤光缆股份有限公司 ； 公司法 指 《中华人民共和国公司法》； 董事 指 公司所有的董事，且董事指任何一位董事 ； 集团 指 公司及其子公司 ； 独立非执行董事 指 符合上市规则独立定性规定的非执行董事，且独立非执行董 事指任何一位独立非执行董事 ； 董事会审计委员会工作细则 （于二零一四年五月六日通过，于二零二四年三月二十八日更新） 定义 于本工作细则内，除非文义另有所指外，下列词汇具有以下含义 ： 上市规则 指 公司股票上市的证券交易所适用的上市规则 ； 高级管理人员 指 公司的总裁、高级副总裁、副总裁、财务总监、董事会秘书 以及公司章程规定的其他人员。 第一章 总则 2 第一条 为了加强公司内部控制， ...

表决结果：同意 12 票，反对 0 票，弃权 0 票。 二、 审议通过《2023 年度独立董事述职报告》 表决结果：同意 12 票，反对 0 票，弃权 0 票。 具体内容详见同日披露于上海证券交易所网站（www.sse.com.cn）的《2023 年度独立董事述职报告》。 证券代码：601869 证券简称：长飞光纤 公告编号：临 2024-001 长飞光纤光缆股份有限公司 第四届董事会第四次会议决议公告 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 会第四次会议于 2024 年 3 月 28 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 ...