Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a Q3 gross margin improvement, continuing its focus on high-end product development and edge AI integration [1] - The company is expected to achieve a net profit of 55.5 billion, 65.6 billion, and 75.6 billion for the years 2024, 2025, and 2026 respectively, corresponding to PE valuations of 19, 16, and 14 times [1] Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 51.25 billion, a year-on-year increase of 19.1%, and a net profit of 3.9 billion, a year-on-year increase of 0.5% [1] - In Q3 2024, the company reported revenue of 16.69 billion, a year-on-year decrease of 7.2%, and a net profit of 1.05 billion, a year-on-year decrease of 41.0% [1] - The gross margin for Q3 2024 was 21.7%, a year-on-year decrease of 3.5 percentage points, but improved by 0.8 percentage points quarter-on-quarter [1] Market and Product Development - The company maintained its smartphone shipment volume at over 25 million units in Q3 2024, with a global market share of approximately 8% [1] - The company is focusing on high-end product development, having launched the second generation of its flagship foldable phone series, PHANTOM V Fold2 and V Flip2, featuring new TECNO AI capabilities [1] Future Outlook - The company anticipates that new product launches and holiday promotions will drive sales growth in Q4 2024, with declining raw material prices expected to further enhance gross margins [1]

这是512亿同比呢是增长大概19亿我的经济论呢是大概39亿同比呢是增长0.5%扣飞的规模呢是大概32.48亿那同比呢是减少了大概7.4%精英活动的进线金流呢大概是12.4亿 三季度单季来看的话我们营收是大概169亿规模的纪律论大概是10.5亿后非的规模纪律论是大概8.2亿分业务来看的话手机业务这边是全三季度我们本体的手机的营收组合是472亿 总比是增长大概20%其中智能剂的营收大概是431亿总比是增长了大概23%功能剂的营收大约是41个亿总比是大概减少了10%三季度单季来看的话我们智能剂的营收是138亿功能剂的营收大概是14个亿 前三季度手机的总体出货量是1.5亿台其中智能机的出货量大概是7800万台同比是增长大概21%功能机的出货大概是7100万台同比是减少了大概3%三季度单季来看的话我们智能机的出货量大概是2500多万台 环比是10坪左右功能机的话大概是出货也是在2500多万台从整个智能机的出货量的一个区域结构来看的话我们是前三季度非洲这边的智能机出货量大概是占到33%南亚这边大概是占到17%其他的区域大概会 占到19%就接近一半收入的一个分地区来看的话非洲这边会占到20%南亚这边是大概占到18%其他的区 ...

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 股 票 研 究 公 司 更 新 报 告 证 券 研 究 报 告 股票研究 /[Table_Date] 2024.10.29 [table_Authors]舒迪(分析师) 021-38676666 shudi@gtjas.com 登记编号S0880521070002 | --- | --- | |--------------------|-----------------------------| | | | | 文紫妍 ( 分析师 ) | 段笑南 ( 研究助理 ) | | 021-38038321 | 021-38031382 | | wenziyan@gtjas.com | duanxiaonan029904@gtjas.com | | S0880523070001 | S0880124070028 | Q3 单季度利润承压，存储价格下行驱动业绩回暖 传音控股(688036) 电子元器件 [Table_Industry] /信息科技 | --- | --- | --- | --- ...

财联社财经通讯社打开APP16:16:21【传音控股：前三季度净利润39.03亿元 同比增长0.5%】《科创板日 报》28日讯，传音控股公告，公司前三季度实现营业收入512.52亿元，同比增长19.13%；归属于上市公 司股东的净利润39.03亿元，同比增长0.5%。 传音控股-0.85%A股公告速递传音控股科创板公司面面观查看公告原文财联社声明：文章内容仅供参 考，不构成投资建议。 投资者据此操作，风险自担。 2024-10-28 16:16:2152058 阅读商务合作发送 ...

深圳传音控股股份有限公司 章程 2024 年 10 月 1 | 第一章 | 总 | | 则 3 | | --- | --- | --- | --- | | 第二章 | | | 经营宗旨和范围 4 | | 第三章 | 股 | | 份 4 | | 第一节 | | | 股份发行 4 | | 第二节 | | | 股份增减和回购 6 | | 第三节 | | | 股份转让 8 | | 第四章 | | | 股东和股东会 9 | | 第一节 | | 股 东 | 9 | | 第二节 | | | 股东会的一般规定 12 | | 第三节 | | | 股东会的召集 16 | | 第四节 | | | 股东会的提案与通知 18 | | 第五节 | | | 股东会的召开 19 | | 第六节 | | | 股东会的表决和决议 22 | | 第五章 | | | 董事会 27 | | 第一节 | | 董 事 | 27 | | 第二节 | | 董事会 | 32 | | 第三节 | | | 董事会专门委员会 37 | | 第六章 | | | 总经理及其他高级管理人员 39 | | 第七章 | | | 监事会 41 | | 第一节 | | 事 监 | ...

证券代码：688036 证券简称：传音控股 公告编号：2024-038 深圳传音控股股份有限公司 根据公司 2022 年 9 月 13 日召开的 2022 年第一次临时股东大会的授权，董 事会将负责办理后续工商变更登记、章程备案等相关事宜，本事项无须再提交股 东大会审议。 上述变更将最终以工商登记机关核准的内容为准。修订后的《公司章程》同 日在上海证券交易所网站予以披露。 关于修订《公司章程》并办理工商变更登记的公告 特此公告。 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。 深圳传音控股股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召开 第三届董事会第十一次会议，审议通过了《关于修订<公司章程>的议案》，现 将具体情况公告如下： 公司 2022 年限制性股票激励计划首次授予部分第一个归属期及预留授予部 分第一个归属期的归属条件成就，于 2024 年 10 月 11 日完成归属登记，共计 1,115.9295 万股，该部分股票均为普通股，并于 2024 年 10 月 17 日上市流通， 公司总股本由 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥16,693,341,759.80, representing a decrease of 7.22% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥1,051,451,569.36, down 41.02% year-on-year[2]. - The basic earnings per share for Q3 2024 decreased by 57.92% to ¥0.93[3]. - The net cash flow from operating activities for the year-to-date period was ¥1,241,193,350.15, reflecting a significant decline of 89.10%[2]. - Non-recurring gains and losses totaled ¥231,349,504.01 for the period, down from ¥655,603,043.90 in the previous year[5]. - The weighted average return on equity decreased by 4.67 percentage points to 5.43%[3]. - The total comprehensive income for Q3 2024 was CNY 3,937,311,136.72, slightly down from CNY 3,944,205,894.46 in Q3 2023[20]. - The financial expenses for Q3 2024 were CNY 1,691,355,351.55, up from CNY 1,824,439,305.88 in Q3 2023, indicating a decrease of about 7.3%[19]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥46,710,404,695.35, an increase of 1.28% from the end of the previous year[3]. - The total liabilities decreased to CNY 26.26 billion from CNY 27.94 billion, a reduction of 6.1%[16]. - The equity attributable to shareholders increased to CNY 20.29 billion, up from CNY 18.06 billion, reflecting a growth of 12.4%[17]. - The company's accounts receivable increased to CNY 2.80 billion, compared to CNY 1.97 billion in the previous year, marking a 42.4% rise[15]. - Inventory levels rose to CNY 11.24 billion, up from CNY 10.44 billion, indicating a 7.6% increase[15]. - The company's deferred tax assets increased to CNY 976.11 million, compared to CNY 743.88 million, representing a 31.3% increase[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,028, with the largest shareholder holding 49.64% of the shares[8]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest shareholder owning 560,503,474 shares[10]. - The total number of shares held by the top ten unrestricted shareholders is 1,129,191,280, reflecting their significant stake in the company[12]. - The company has not reported any changes in the top ten shareholders due to margin trading activities during the reporting period[12]. Research and Development - The total R&D investment for the period was ¥641,028,705.57, accounting for 3.84% of operating revenue, an increase of 0.40 percentage points year-on-year[3]. - Research and development expenses increased by 18% in Q3 2024, focusing on AI technology integration in new devices[23]. Market and Product Development - The company continues to explore market expansion strategies and new product development initiatives to enhance its competitive position[10]. - New product launches contributed to a 25% increase in sales volume, with the introduction of three new smartphone models in Q3 2024[23]. - The company is expanding its market presence in Africa, targeting a 30% market share by the end of 2025[23]. - The company announced a strategic partnership with a local telecom operator to enhance service offerings, expected to boost user engagement by 15%[23]. - A new marketing strategy was implemented, resulting in a 40% increase in brand awareness metrics across key markets[23]. Revenue and Sales - Total operating revenue for the first three quarters of 2024 reached CNY 51.25 billion, a 19.2% increase from CNY 43.02 billion in the same period of 2023[18]. - Total revenue from sales of goods and services for the first three quarters of 2024 was CNY 54,768,810,692.80, compared to CNY 44,317,152,750.90 in the same period of 2023, indicating a year-over-year increase of about 23.5%[21]. - The company reported a revenue of 1.2 billion yuan for Q3 2024, representing a year-over-year increase of 15%[23]. - The company provided a revenue guidance of 5 billion yuan for Q4 2024, indicating a projected growth of 20% compared to Q4 2023[23]. Operational Efficiency - The company reported a decrease in gross profit margin due to market competition and supply chain costs[7]. - The gross margin for Q3 2024 improved to 35%, up from 32% in the previous quarter[23]. - The company experienced a significant increase in procurement payments, leading to a higher cash outflow compared to the previous year[7]. - The company has made adjustments to its accounting policies, impacting the profit statement for the first nine months of 2024, with a reclassification of warranty expenses[13]. - The company’s financial report indicates a significant change in the sales expenses and operating costs due to the new accounting policy, affecting amounts by approximately RMB 414 million[13].

重要内容提示： ●现金分红总金额调整情况：深圳传音控股股份有限公司（以下简称"公司"） 2024年半年度拟向全体股东每10股派发现金红利15.00元（含税）不变，派发现金红 利总额由169,378.6920万元（含税）调整为171,052.58625万元（含税）。 ●本次调整原因：公司2024年半年度利润分配方案公告披露之日起至本公 告披露日，公司2022年限制性股票激励计划首次授予部分第一个归属期及预留 授予部分第一个归属期归属完成并上市流通，公司总股本由1,129,191,280股增 加至1,140,350,575股。公司拟维持每股分配金额不变，相应调整2024年半年度利 润分配总额。 证券代码：688036 证券简称：传音控股 公告编号：2024-037 深圳传音控股股份有限公司 关于调整 2024 年半年度利润分配现金分红总额 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。 根据上述公司总股本变动情况及2024年半年度利润分配方案，公司拟维持 每股分配金额不变，对2024年半年度利润分配现金分红总额进行相应 ...

证券代码：688036 证券简称：传音控股 公告编号：2024-036 深圳传音控股股份有限公司 关于召开 2024 年第一次临时股东大会的通知 本公司董事会及全体董事保证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： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2024 年第一次临时股东大会 召开日期时间：2024 年 11 月 6 日 下午 14:00 召开地点：广东省深圳市南山区西丽街道西丽社区仙元路 8 号传音大厦 24 楼 VIP 会议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 11 月 6 日至 2024 年 11 月 6 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互 股东大会召开日期：2024年11月6日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 联网投票平台的投 ...

深圳传音控股股份有限公司股东大会会议资料 | 2024 年第一次临时股东大会会议须知 3 | | --- | | 2024 年第一次临时股东大会会议议程 5 | | 议案一：《关于 年半年度利润分配预案的议案》 2024 7 | | 议案二：《关于修订<公司章程>的议案》 9 | | 议案三：《关于修订<股东会议事规则>的议案》 10 | | 议案四：《关于修订<董事会议事规则>的议案》 11 | | 议案五：《关于修订<监事会议事规则>的议案》 12 | 深圳传音控股股份有限公司股东大会会议资料 深圳传音控股股份有限公司 2024 年第一次临时股东大会会议须知 为维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证股东 大会的顺利进行，根据《中华人民共和国公司法》、《中华人民共和国证券法》、 《上市公司股东大会规则》以及《深圳传音控股股份有限公司章程》、《深圳传音 控股股份有限公司股东大会议事规则》等相关规定，特制定本须知。 证券代码：688036 证券简称：传音控股 深圳传音控股股份有限公司 2024 年第一次临时股东大会会议资料 2024 年 10 月 1 六、股东欲在股东大会现场会议上发言的 ...