深圳市景旺电子股份有限公司 信息披露管理制度 第一章 总则 第一条 为了规范深圳市景旺电子股份有限公司（以下简称"公司"）及其 他信息披露义务人的信息披露行为，提高公司治理和规范运作水平，维护公司股 东、债权人及其他利益相关人的合法权益，依据《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 市公司信息披露管理办法》（以下简称"《信披管理办法》"）《上海证券交易所股 票上市规则》（以下简称"《上市规则》"）《上海证券交易所上市公司自律监管指 引第 1 号——规范运作》《上海证券交易所上市公司自律监管指引第 2 号——信 息披露事务管理》《深圳市景旺电子股份有限公司章程》（以下简称"《公司章程》"） 及其他有关规定，特制定本制度。 第二条 本制度信息披露义务人是指公司及公司的董事、监事、高级管理人 员、股东、实际控制人，收购人，重大资产重组、再融资、重大交易有关各方等 自然人、单位及其相关人员，破产管理人及其成员，为前述主体提供服务的中介 机构及其相关人员，以及法律、行政法规和中国证监会规定的其他承担信息披露 义务的主体。 本制度所称"信息"，是指对公 ...

| 证券代码：603228 | 证券简称：景旺电子 公告编号：2024-104 | | --- | --- | | 债券代码：113669 | 债券简称：景 转债 23 | 深圳市景旺电子股份有限公司 一、说明会类型 本次投资者说明会以网络文字互动的方式召开，公司将针对 2024 年第三季 度的经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露 允许的范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 （一）会议召开时间：2024 年 11 月 21 日（星期四）上午 9:00-10:00 （二）网上直播地址：上证路演中心（http://roadshow.sseinfo.com） ● 会议召开时间：2024 年 11 月 21 日（星期四）上午 9:00-10:00 ● 网上召开地址：上证路演中心（http://roadshow.sseinfo.com） ● 会议召开方式：上证路演中心网络文字互动 关于召开2024年第三季度业绩说明会的公告 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。 重要提 ...

深圳市景旺电子股份有限公司 舆情管理制度 第一章 总则 第一条 为提高深圳市景旺电子股份有限公司（以下简称"公司"）应对各类 舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情对公司股 票及其衍生品交易价格、公司商业信誉及正常生产经营活动造成的影响，切实保 护投资者合法权益，根据相关法律、法规和规范性文件的规定及《深圳市景旺电 子股份有限公司章程》，结合公司实际情况，制订本制度。 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； （三）可能或者已经影响社会公众投资者投资取向，造成公司股票及其衍生 品交易价格异常波动的信息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易价格产生较 大影响的事件信息。 第三条 舆情信息的分类： （一）重大舆情：传播范围较广，严重影响公司公众形象或正常经营活动， 使公司已经或可能遭受损失，已经或可能造成公司股票及其衍生品种交易价格变 动的负面舆情。 （二）一般舆情：除重大舆情之外的其他舆情。 第二章 舆情管理的组织体系及日常工作开展 第四条 公司应对各类舆情（尤其是媒 ...

| 证券代码：603228 | 证券简称：景旺电子 | 公告编号:2024-098 | | --- | --- | --- | | 债券代码：113669 | 债券简称：景 23 转债 | | 深圳市景旺电子股份有限公司 关于使用部分闲置募集资金进行现金管理到期赎回 并继续进行现金管理的公告 重要内容提示： 一、前次使用闲置募集资金进行现金管理到期赎回的情况 近日，深圳市景旺电子股份有限公司（以下简称"公司"）及子公司如期赎 回前次使用闲置募集资金购买的已到期理财产品，赎回本金合计人民币 36,000.00 万元，获得收益合计人民币 64.47 万元。前述本金及收益已全部归还至 募集资金专户，具体赎回情况如下： 单位：万元 委托理财受托方：中国银行深圳西丽支行 本次委托理财金额：合计 32,000.00 万元 委托理财产品名称：结构性存款 委托理财期限：28 天、30 天 履行的审议程序：经公司 2024 年 4 月 25 日召开的第四届董事会第十九 次会议、第四届监事会第十一次会议审议通过，同意公司使用总额不超 过人民币 60,000.00 万元的"景 23 转债"闲置募集资金进行现金管理， 使用期限自董事 ...

证券代码：603228 证券简称：景旺电子 （记录表编号：2024-1001） 深圳市景旺电子股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | --- | |-----------------------|-------------|------------------------------------|--------------------------------------------------------------------|---------|--------------------------------| | 投资者关系 \n活动类别 | √ \n \n | 业绩说明会 \n路演活动 \n现场参观 | 特定对象调研 \n 分析师会议 \n 一对一沟通 | \n \n | 媒体采访 \n新闻发布会 \n其他 | | 时间 | 2024 | 年 10 月 9 日 | | | | | | | 地点/方式 上证路演中心网络文字互动 | | | | | 参与单位 （或人员） | | 线上参与公司 2024 | 年半年度业绩说明会的投资者 | | | ...

| 证券代码：603228 | 证券简称：景旺电子 公告编号：2024-097 | | --- | --- | | 债券代码：113669 | 债券简称：景 转债 23 | 深圳市景旺电子股份有限公司 关于可转债转股结果暨股份变动公告 1、因公司股票存在连续三十个交易日中至少有十五个交易日的收盘价低于 初始转股价格80%（28.23元/股）的情形，公司于2021年2月25日召开了第三届董 事会第十八次会议、2021年3月15日召开了2021年第一次临时股东大会、第三届 董事会第十九次（临时）会议，同意向下修正"景20转债"的转股价格，修正后 的转股价格为27.70元/股，自2021年3月17日起执行。具体内容请详见公司2021年 3月16日披露于上海证券交易所网站（http://www.sse.com.cn/）及指定信息披露媒 体上的《景旺电子关于向下修正"景20转债"转股价格的公告》（公告编码：2021- 021）。 2、公司于2021年5月12日实施完毕2020年度权益分派，根据《深圳市景旺电 子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》） 相关条款规定，自2021年5月12日 ...

Investment Rating - The report gives a "Buy" rating for the company, indicating a positive outlook for investment [2][7]. Core Views - The company is a global leader in automotive PCB supply, with a comprehensive product range and rich customer resources. It ranks tenth globally in the PCB industry and third among domestic companies in China. It has become one of the top three automotive PCB suppliers worldwide [5][14]. - The company has achieved steady revenue growth and continuous improvement in profit margins, with a focus on expanding into emerging markets such as automotive and AI [5][21]. - The company is well-positioned to benefit from the accelerating penetration of new energy vehicles and the rapid development of AI technology, which are driving demand for automotive electronics and high-end products [5][6]. Summary by Sections Company Overview - The company, established in 1993 and listed in 2017, is one of the few manufacturers covering rigid, flexible, and metal-based circuit boards. Its products are widely used in various sectors, including servers, communications, consumer electronics, automotive, and industrial medical [14][17]. - The company has a stable shareholding structure, with major shareholders holding a combined 76.33% of shares. The largest shareholder is Shenzhen Jinghong Yongtai Investment Holding Co., Ltd., with a 34.32% stake [19]. Financial Performance - In 2023, the company achieved revenue of 107.6 billion yuan, a 2.3% increase from 2022, while net profit decreased by 12.2% to 9.4 billion yuan due to intensified competition and weak downstream demand. However, in the first half of 2024, revenue reached 58.7 billion yuan, up 18.3% year-on-year, and net profit increased by 62.6% to 6.6 billion yuan [21][22]. - The company's gross margin and net margin for 2023 were 23.17% and 8.47%, respectively. In the first half of 2024, gross margin increased to 24% and net margin to 11.11% [21][23]. Market Opportunities - The PCB market is expected to grow significantly, driven by emerging industries. The global PCB market is projected to reach $72.97 billion in 2024, with a compound annual growth rate (CAGR) of 5% from 2024 to 2028 [26][27]. - The automotive electronics sector is experiencing rapid growth, with the proportion of electronic costs in vehicles expected to rise significantly by 2030. The demand for automotive PCBs is anticipated to increase as new energy vehicles gain market share [32][33]. Product Development and Innovation - The company has been focusing on high-end product development and has made significant breakthroughs in various business segments, including automotive electronics and AI servers. It has established a strong technological innovation capability and continues to expand its product offerings [5][6][7]. - The company has increased its R&D investment, with R&D expenses reaching 6.01 billion yuan in 2023, a 10.03% increase from 2022. The company aims to maintain its leading position in R&D technology [25].

Investment Rating - The investment rating for the company is "Outperform the Market" [1][2] Core Views - The company has maintained strong demand in automotive products and achieved breakthroughs in high-end data communication products, with a 63% year-on-year growth in net profit for the first half of 2024 [1] - The company reported a revenue of 5.867 billion yuan in 1H24, representing an 18.26% year-on-year increase, and a net profit of 657 million yuan, reflecting a 62.56% year-on-year increase [1] - The company has made significant technological advancements in various product categories, including high-speed PCBs for general servers and AI servers, which are expected to drive future growth [1] - The company is progressing with key project constructions, and the release of high-end production capacity is anticipated to enhance profitability [1] Financial Performance Summary - In 1H24, the company's revenue was 5.867 billion yuan, with a net profit of 657 million yuan, and a gross margin of 23.48% [1] - The company expects net profits for 2024-2026 to be 1.254 billion yuan, 1.509 billion yuan, and 1.766 billion yuan, respectively, with year-on-year growth rates of 33.9%, 20.3%, and 17.1% [1][3] - The company's earnings per share (EPS) for 2024E is projected to be 1.34 yuan, with a price-to-earnings (P/E) ratio of 18.1x [3][8]

Investment Rating - The report maintains a "Buy" rating for the company [5][4]. Core Insights - In the first half of 2024, the company achieved operating revenue of 5.867 billion yuan, a year-on-year increase of 18.26%, and a net profit attributable to shareholders of 656 million yuan, a year-on-year increase of 62.56% [4][4]. - The second quarter of 2024 saw the company realize operating revenue of 3.125 billion yuan, a year-on-year increase of 19.25% and a quarter-on-quarter increase of 13.93%, with a net profit of 339 million yuan, reflecting a year-on-year increase of 76.03% and a quarter-on-quarter increase of 6.53% [4][4]. - The company is experiencing rapid growth driven by high-end products, which are expected to open a second growth curve [4][4]. Summary by Sections Financial Performance - The company reported a gross margin of 24.0% and a net margin of 11.1% for the first half of 2024 [4][4]. - For Q2 2024, the gross margin was 23.48% and the net margin was 10.72% [4][4]. Industry Context - The global macroeconomic environment is showing moderate recovery, with demand for electronic information products improving. The electronic and automotive sectors saw year-on-year value-added growth of 13.3% and 9.8%, respectively [4][4]. - The report highlights that from 2023 to 2028, demand for PCBs in sectors such as servers, data centers, and automotive is expected to grow rapidly, particularly for high-layer multi-layer boards and packaging substrates [4][4]. Future Outlook - The company is focused on enhancing its product technology, particularly in high-end HDI, multi-layer PCBs, and multi-layer FPCs, and is actively pursuing opportunities in the automotive and data communication sectors [4][4]. - The dual drivers of data communication and automotive sectors are anticipated to unlock a second growth engine for the company, contributing to future profit increases [4][4]. - The projected net profits for 2024, 2025, and 2026 are 1.249 billion yuan, 1.557 billion yuan, and 1.868 billion yuan, respectively, with corresponding price-to-earnings ratios of 18.13, 14.54, and 12.12 [4][4].

[Table_Industry] [Table_Title] 评级：买入（维持） 市场价格：24.28 元/股 [Table_Finance 公司盈利预测及估值 1] 指标 2022A 2023A 2024E 2025E 2026E 营业收入（百万元） 10,514 10,757 12,654 14,707 17,467 增长率 yoy% 10% 2% 18% 16% 19% 净利润（百万元） 1,066 936 1,355 1,574 1,903 增长率 yoy% 14% -12% 45% 16% 21% 每股收益（元） 1.14 1.00 1.45 1.69 2.04 每股现金流量 1.67 2.51 2.32 2.47 2.74 净资产收益率 13% 10% 13% 14% 14% P/E 21.2 24.2 16.7 14.4 11.9 P/B 2.8 2.6 2.3 2.0 1.7 备注：股价更新于 2024 年 8 月 30 日，每股指标按照最新股本数全面摊薄 [Table_Profit] 基本状况 总股本(百万股) 933 流通股本(百万股) 921 市价(元) 24.28 市值(百万元) 22 ...