| 证券代码：688001 | 证券简称：华兴源创 | 公告编号：2025-031 | | --- | --- | --- | | 转债代码：118003 | 转债简称：华兴转债 | | 苏州华兴源创科技股份有限公司 关于"华兴转债"转股结果暨股份变动的公告 重要内容提示： ●本季度转股情况："华兴转债"自2022年6月6日起开始进入转股期，自 2025年4月1日起至2025年6月30日，未有"华兴转债"转换为公司股票，转股数 量为0； ●累计转股情况：截至2025年6月30日，"华兴转债"累计有人民币 89,109,000元已转换为公司股票，转股数量为3,400,370股，占"华兴转债"转 股前公司已发行股份总额的0.7739%； ●未转股可转债情况：截至2025年6月30日，"华兴转债"尚未转股的可转 债金额为710,891,000元，占"华兴转债"发行总量的88.8614%。 一、可转债发行上市及转股价格调整情况 经中国证券监督管理委员会证监许可【2021】3553 号文同意注册，苏州华 兴源创科技股份有限公司（以下简称"公司"）于 2021 年 11 月 29 日向不特定对 象发行可转换公司债券（以下 ...

Group 1 - The global smart audio device shipment is expected to exceed 500 million units by 2025, driven by the increasing acceptance of TWS headphones and strong demand from emerging markets like China [1] - China accounts for 30% of the global wearable wristband device market, with a year-on-year growth of 20%, compensating for declines in mature markets [1] - The wearable device market is anticipated to rebound, with growth fueled by the expansion in emerging markets and the popularity of mid-to-low-priced products [1] Group 2 - AI and AR/VR technologies are opening new development paths for wearable devices, enhancing their market scale [1] - Meta is set to launch the Quest3/Pro series in 2024, integrating multi-modal AI assistants and bone conduction audio technology, which will increase attention and development space in the wearable device industry [1] Group 3 - Oulitong has a broad customer base, with significant growth potential in its operating performance, despite a decrease in sales from major clients like Apple due to reduced shipments of headphones and wearable devices [2] - Oulitong is actively expanding its customer base, including new clients like AAC Technologies and Nidec, which will support future performance growth [2] Group 4 - As of early 2025, Oulitong's confirmed orders increased to 203 million, indicating a slight growth from the previous year, although market competition remains intense [3] - The company expects gradual recovery in revenue, although growth rates may slow compared to earlier forecasts [3] Group 5 - Oulitong's operating costs are projected to rise due to increased material costs, labor costs, and manufacturing expenses, with a significant drop in gross margin from 68.25% in 2023 to 50.07% in 2024 [4][5] - The company plans to implement cost-reduction measures, including negotiating with suppliers and optimizing workforce structure, to improve overall gross margin [5] Group 6 - Oulitong's period expenses are expected to decrease as revenue grows, with a focus on controlling sales, management, and R&D expenses [6][7] - The company anticipates that the sales expense ratio will rise due to increased personnel costs, while management and R&D expense ratios will decline as a result of scale effects [8] Group 7 - Oulitong recognized goodwill impairment of 31,046.19 million yuan for 2024, as the recoverable amount of the asset group was lower than its book value [9] - The company's revenue and profit indicators for the first quarter of 2025 align with the expectations set during the goodwill impairment testing [10] Group 8 - Oulitong's accounts receivable increased by 31.01% year-on-year, with a significant rise in short-term receivables, indicating a need for analysis of sales policies and credit policies [13][15] - The increase in accounts receivable despite declining revenue is attributed to the growth in the wearable device business and longer payment cycles from clients [17] Group 9 - Oulitong's inventory at the end of the reporting period was 884 million yuan, with a provision for inventory impairment of 10 million yuan, reflecting a decrease in the impairment ratio [21] - The company has implemented a cautious approach to inventory valuation, leading to a rise in the provision for raw material impairment due to increased aging of specialized materials [22] Group 10 - Oulitong's cash and cash equivalents decreased by 41% year-on-year, with a significant increase in short-term borrowings, indicating a shift in financing strategy [28] - The company maintains sufficient liquidity to cover its debt obligations, with a focus on optimizing cash flow management and maintaining good relationships with financial institutions [34]

Group 1 - The company, Suzhou HYC Technology Co., Ltd., issued convertible bonds totaling RMB 800 million, with a net amount of RMB 787.92 million after deducting issuance costs [3][4][22] - The bonds have a maturity of six years, with an annual interest rate that increases from 0.30% in the first year to 2.00% in the sixth year [5][6] - The initial conversion price was set at RMB 39.33 per share, which has been adjusted down to RMB 26.19 per share due to market conditions [7][27] Group 2 - The company reported a decline in total assets by 5.45% to RMB 526.40 million and a decrease in net assets by 12.99% to RMB 342.40 million as of the end of 2024 [20][21] - The company's revenue for 2024 was RMB 182.26 million, a decrease of 2.07% compared to 2023, with a significant net loss of RMB 49.70 million [20][21] - Research and development expenses accounted for 21.62% of the company's revenue, indicating a strong focus on innovation [19] Group 3 - The company has established itself as a leading provider of industrial automation testing equipment and solutions, with products used in various sectors including LCD, OLED, and semiconductor industries [18][19] - The company has applied for a total of 304 intellectual property rights, with 261 approved, showcasing its commitment to innovation [19] - The company has successfully supplied testing equipment for humanoid robot controllers to overseas clients, indicating growth in its innovative business segment [19]

Core Viewpoint - The company received an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report, prompting a detailed analysis of its business performance and financial metrics, particularly focusing on revenue changes and gross margin fluctuations across different product segments [1][2]. Group 1: Business Performance Analysis - The company's revenue from testing equipment decreased by 18.27% in 2024, while revenue from fixtures and accessories increased by 40.18%, and assembly equipment revenue surged by 90.85% [2][8]. - The sales volume of testing equipment dropped by 52.46%, but the revenue decline was only 18.72%, indicating a potential increase in average selling prices [2][8]. - The company primarily serves the consumer electronics sector, with a significant portion of its revenue derived from major clients in this industry, particularly Company A [2][3]. Group 2: Market Trends and Client Performance - The global consumer electronics market is projected to grow by approximately 5.40% in 2024, reaching a size of $815.2 billion, although major clients like Company A are experiencing a decline in product shipments [3][4]. - Company A's capital expenditure for the fiscal year 2024 is estimated at $9.447 billion, down 13.80% from the previous year, reflecting a broader trend of reduced capital spending in the consumer electronics sector [4][5]. Group 3: Gross Margin Analysis - The overall gross margin for the company decreased, with testing equipment gross margin at 42.12%, fixtures and accessories at 40.89%, and assembly equipment at 49.78%, all showing declines compared to the previous year [1][9]. - The decline in gross margins is attributed to increased competition, rising fixed costs from new capacity, and higher raw material costs, which collectively exert pressure on profitability [12][15][16]. - The company’s gross margin decline aligns with industry trends, as similar companies in the sector also reported reduced margins due to similar challenges [12][13][16]. Group 4: Raw Material Cost Dynamics - The total raw material costs for the company increased significantly, with a 148.41% rise in 2024, driven by higher production volumes and changes in product structure [20][21]. - The average procurement prices for key raw materials, including electronic components and mechanical parts, have shown varied changes, complicating cost management [21][22]. - The company’s procurement strategy involves sourcing from multiple suppliers, with a focus on maintaining competitive pricing despite fluctuations in raw material costs [22][23].

债券受托管理人 （深圳市前海深港合作区南山街道桂湾五路 128 号前海深港基金小镇 B7 栋 401） 二〇二五年六月 1 | 证券代码：688001 | 证券简称：华兴源创 | | --- | --- | | 债券代码：118003 | 债券简称：华兴转债 | 苏州华兴源创科技股份有限公司 向不特定对象发行可转换公司债券 受托管理事务报告 （2024 年度） 重要声明 本报告依据《可转换公司债券管理办法》（以下简称"《管理办法》"）、《苏州 华兴源创科技股份有限公司（作为发行人）与华泰联合证券有限责任公司（作为 受托管理人）关于苏州华兴源创科技股份有限公司向不特定对象发行可转换公司 债券之债券受托管理协议》（以下简称"《受托管理协议》"）、《苏州华兴源创科技 股份有限公司向不特定对象发行可转换公司债券募集说明书》（以下简称"《募集 说明书》"）、《苏州华兴源创科技股份有限公司 2024 年年度报告》等相关公开信 息披露文件、第三方中介机构出具的专业意见等，由本次债券受托管理人华泰联 合证券有限责任公司（以下简称"华泰联合证券"）编制。华泰联合证券对本报 告中所包含的从上述文件中引述内容和信息未进行独立验证， ...

【RSM | 容 诚 关于苏州华兴源创科技股份有限公司 2024年年度报告的信息披露监管问询函的 回复 容诚专字[2025]215Z0678号 容诚会计师事务所(特殊普通合伙) 中国北京 10 目 1001-1 至 1001-26 ttps://www.rsm.global/china/ 容诚会计师事务所(特殊普通合伙) 关于上海证券交易所 《关于苏州华兴源创科技股份有限公司 2024年年度报告的信息 披露监管问询函》的回复 上海证券交易所科创板公司管理部: 苏州华兴源创科技股份有限公司(以下简称"华兴源创"或"公司")于2025年 5 月收到贵部下发的《关于苏州华兴源创科技股份有限公司 2024年年度报告的信 息披露监管问询函》（上证科创公函《2025】0177 号）（以下简称"《年报问询 函》")。针对贵部在《年报问询函》中就公司2024年年度报告提出的信息披露 监管要求,容诚会计师事务所(特殊普通合伙)(以下简称"本所"或"年审会计 师")作为华兴源创年审会计师,对问询函中涉及本所的有关问题向贵所回复如 下,请予审核。 说明:在下述相关问题的回复中,若合计数与各分项数值相加之和在尾数上 存在差异均为四舍 ...

证券代码：688001 证券简称：华兴源创 公告编号：2025-029 苏州华兴源创科技股份有限公司 关于 2024 年年度报告的信息披露监管问询函的 回复公告 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、准确性和完整性依法承担法律责任。 苏州华兴源创科技股份有限公司（以下简称"公司"或"华兴源创"）于近 日收到上海证券交易所科创板公司管理部下发的《关于苏州华兴源创科技股份有 限公司 2024 年年度报告的信息披露监管问询函》（上证科创公函【2025】0177 号）（以下简称"年报问询函"或"问询函"）。公司收到年报问询函后高度重 视，根据年报问询函的要求及时组织相关部门和中介机构对年报问询函所列事项 进行了认真核查、逐项落实，现就有关事项具体回复如下： 一、关于公司经营业务 1.关于分板块经营情况。报告期内，公司检测设备营业收入 10.53 亿元，同 比减少 18.27%，毛利率 42.12%，同比减少 10.67 个百分点；治具及配件营业收 入 5.16 亿元，同比增长 40.18%，毛利率 40.89%，同比减少 16.68 个百分点；组 装设备 ...

Core Viewpoint - The credit rating agency maintains the credit rating of Suzhou Huaxing Yuan Chuang Technology Co., Ltd. at AA with a stable outlook, indicating a strong creditworthiness and stable financial performance [1][3]. Company Overview - Suzhou Huaxing Yuan Chuang is a leading provider of industrial automation testing equipment and complete line detection system solutions, primarily engaged in the manufacturing and sales of automated intelligent equipment for flat panel display and integrated circuit testing [2][5]. - The company has a strong competitive advantage and maintains good cooperation with major clients such as BOE Technology Group, Luxshare Precision, and Apple Inc. [5][22]. Financial Performance - As of March 2025, the company's total assets amounted to 53.38 billion yuan, with total liabilities of 19.60 billion yuan and equity of 33.80 billion yuan, resulting in a debt-to-asset ratio of 36.69% [9][12]. - The company's total revenue for the first quarter of 2025 was 18.61 billion yuan, with a profit margin of 42.12% [19][22]. - The company reported a total profit loss of 4.89 billion yuan in 2023, primarily due to a decline in gross profit and increased fixed costs during the capacity ramp-up phase [5][22]. Market Position and Industry Trends - The flat panel display testing industry is expected to grow due to the increasing demand for domestic panel production and the rise of new display technologies such as Mini/Micro LED and Micro OLED [13][14]. - The wearable device testing industry is also anticipated to expand, driven by technological advancements and increasing market demand [15][16]. - The integrated circuit testing industry is projected to see stable growth, supported by domestic policy initiatives and rising demand in sectors like AI and IoT [17][18]. Business Operations - The company's main revenue sources include testing equipment, fixtures, and components, with a notable decline in orders due to the downturn in the consumer electronics sector [20][22]. - The company has made significant advancements in R&D, with a focus on new generation display detection and SoC chip testing technologies, achieving a high R&D expenditure ratio of 21.62% [5][21]. - The assembly equipment business has seen growth due to increased orders from existing clients and new customer acquisitions, although profit margins have faced pressure from strong bargaining power of new clients [25][26]. Governance and Strategy - The company's governance structure remains stable, with a recent change in one independent director, and it continues to pursue diversification in related industries while maintaining its core competencies in testing technologies [24].

前次债券评级：公司主体信用等级为"AA"，评级展望为"稳定"，"华 兴转债"的信用等级为"AA"； | 证券代码：688001 | 证券简称：华兴源创 | 公告编号：2025-028 | | --- | --- | --- | | 转债代码：118003 | 转债简称：华兴转债 | | 苏州华兴源创科技股份有限公司 关于"华兴转债"跟踪信用评级结果的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 评级机构东方金诚在对公司经营状况及相关行业进行综合分析与评估的基 础上，于近期出具了《苏州华兴源创科技股份有限公司主体及"华兴转债"2025 年度跟踪评级报告》（东方金诚债跟踪评字【2025】0148号），评级结果如下： 本期公司主体信用等级维持为"AA"，评级展望维持为"稳定"，华兴转债信用 等级维持为"AA"。具体内容详见公司于同日披露在上海证券交易所网站的《华 兴源创：苏州华兴源创科技股份有限公司主体及"华兴转债"2025年度跟踪评级 报告》。 特此公告。 苏州华兴源创科技股份有限公司董事会 2025 ...

Core Viewpoint - Huaxing Yuanchuang has successfully delivered China's first G8.6 AMOLED touch screen (TSP) display system detection equipment, marking a significant advancement in the high-generation AMOLED TSP OS core detection equipment field [1][3]. Group 1: Product Development and Market Position - The newly developed detection equipment covers the entire process of TSP and OS detection, achieving micron-level precision, suitable for various applications including automotive displays, laptops, and tablets [3]. - The delivery of this product signifies a critical leap from "0" to "1" in China's capability in high-generation AMOLED TSP OS core detection equipment [3]. - Huaxing Yuanchuang's Chengdu subsidiary has successfully won bids for several projects related to BOE's 8.6-generation AMOLED production line, including automatic optical inspection machines and aging equipment for flat panel displays [3]. Group 2: Financial Performance - In 2024, Huaxing Yuanchuang reported an operating income of 1.823 billion yuan, a decrease of 2.07% compared to the previous year [3]. - The company recorded a net profit attributable to shareholders of -497 million yuan [3]. Group 3: Company Focus and Applications - Huaxing Yuanchuang specializes in the research, production, and sales of flat panel display and semiconductor integrated circuit detection equipment, with applications across various industries including LCD and OLED flat displays, integrated circuits, and automotive electronics [3].