深圳传音控股股份有限公司 2023年度独立董事述职报告 本人作为深圳传音控股股份有限公司（以下简称"公司"）的独立董事，严格 按照《公司法》、《证券法》、《上市公司治理准则》、《上市公司独立董事管理 办法》、《上海证券交易所科创板股票上市规则》等相关法律法规的要求和《公司 章程》及公司《独立董事工作制度》的规定，在 2023 年的工作中，本人诚信、勤勉、 认真履行职责，积极参与公司股东大会、董事会及董事会各专门委员会会议，并保 证行使职责的独立性，切实维护公司及全体股东的利益，特别是中小股东的合法权 益。本人已于 2023 年 10 月 25 日届满离任，不再担任公司独立董事，现将 2023 年 度履职情况报告如下： 一、独立董事的基本情况 （一）独立董事个人工作履历、专业背景以及兼职情况 公司第二届董事会独立董事为张鹏先生、杨正洪先生、江乾坤先生，因第二届 董事会任期届满，公司于 2023 年 10 月 9 日召开了第二届董事会第二十六次会议、 于 2023 年 10 月 25 日召开了 2023 年第一次临时股东大会，以累积投票方式选举出 黄益建先生、陈林荣先生、张怀雷先生为公司第三届董事会独立董事。 本 ...

证券代码：688036 证券简称：传音控股 公告编号：2024-006 深圳传音控股股份有限公司 第三届监事会第四次会议决议公告 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 4 月 12 日以电 子邮件方式向全体监事发出会议通知，并于 2024 年 4 月 22 日以现场及通讯相结 合的方式召开第三届监事会第四次会议。会议应出席监事 3 人，实际到会监事 3 人，会议由监事会主席宋英男先生主持。本次会议的召集、召开、表决均符合有 关法律、行政法规、部门规章、规范性文件和《公司章程》等相关规定。经与会 全体监事一致同意，形成决议如下： 一、 审议通过《关于<2023 年年度报告及其摘要>的议案》 经审核，监事会认为董事会编制和审议公司 2023 年年度报告及其摘要的程 序符合法律、法规的相关规定，报告内容真实、完整的反映了公司的实际情况。 表决情况：3 票赞成、0 票反对、0 票弃权。 具体内容详见同日刊载于上海证券交易所网站的公司《2023 年年度报告》 及 ...

目 录 一、募集资金年度存放与使用情况鉴证报告………………………第 1—2 页 二、关于募集资金年度存放与使用情况的专项报告…………… 第 3—11 页 一、对报告使用者和使用目的的限定 本鉴证报告仅供传音控股公司年度报告披露时使用，不得用作任何其他目的。 我们同意将本鉴证报告作为传音控股公司年度报告的必备文件，随同其他文件一 起报送并对外披露。 二、管理层的责任 传音控股公司管理层的责任是提供真实、合法、完整的相关资料，按照《上 市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求（2022 年 修订）》（证监会公告〔2022〕15 号）和《上海证券交易所科创板上市公司自 律监管指引第 1 号——规范运作（2023 年 12 月修订）》（上证发〔2023〕194 号）的规定编制《关于募集资金年度存放与使用情况的专项报告》，并保证其内 容真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏。 三、注册会计师的责任 我们的责任是在实施鉴证工作的基础上对传音控股公司管理层编制的上述 报告独立地提出鉴证结论。 第 1 页 共 11 页 四、工作概述 募集资金年度存放与使用情况鉴证报告 天健审〔2024 ...

深圳传音控股股份有限公司 深圳传音控股股份有限公司金融衍生品交易管理制度 第一章 总则 第三条 本制度适用于公司及各子公司的金融衍生品交易管理。公司应当按 照本制度的有关规定，履行有关决策程序和信息披露义务。 第二章 金融衍生产品交易操作原则 第四条 公司进行金融衍生品交易业务遵循合法、审慎、安全、有效的原则， 以正常生产经营为基础，并以控制外汇风险敞口为主要出发点，以规避和防范汇 率风险、利率风险为目的。 第二条 本制度所称金融衍生品交易是指满足正常生产经营需要，在银行等 金融机构办理的出于规避和防范汇率风险或利率风险为目的的非固定收益的外 汇衍生品交易业务，包括外汇即期结售汇、远期结售汇、外汇期权、远期利率协 议、利率互换、利率期权以及其他利率衍生品业务。 第一条 为规范深圳传音控股股份有限公司（以下简称"公司"）及各全资 及控股子公司（以下简称"各子公司"）的金融衍生品交易，有效防范金融衍生 品交易风险，维护公司、子公司及股东利益，根据《中华人民共和国公司法》、 《中华人民共和国证券法》、《上海证券交易所科创板股票上市规则》、《上市公司 信息披露管理办法》、《上海证券交易所科创板上市公司自律监管指引第 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2]. Core Views - The report identifies Transsion Holdings as a company focused on emerging markets, primarily in Africa, while also expanding into other regions such as India, Bangladesh, and Myanmar. The company aims to create a closed-loop business model through its ecosystem of "mobile phones + internet services + home appliances and digital accessories" [5][31]. - The company is expected to benefit from the rapid growth of niche markets in the third world, with projected revenues and net profits for 2023 estimated at 62.39 billion and 5.503 billion yuan, respectively. The compound annual growth rate (CAGR) for revenue and net profit from 2016 to 2023 is expected to be 27.1% and 89.4%, respectively [5][12]. Summary by Sections 1. Fundamental & Financial Analysis - Transsion Holdings has established a strong presence in emerging markets, with a significant focus on Africa. The company has multiple manufacturing centers globally, including in China, Ethiopia, India, and Bangladesh, and operates over 2,000 after-sales service points worldwide [12][20]. - The company's revenue from Africa was 20.633 billion yuan in 2022, accounting for 44.9% of total revenue, down from 88.6% in 2016. This indicates a growing contribution from other emerging markets [12][20]. 2. Investment Logic: Market, Product, Track, and Ecosystem - **Market**: The report emphasizes the low smartphone penetration in emerging markets, particularly in Africa and Southeast Asia, which presents significant growth opportunities as these markets mature [20][21]. - **Product**: Transsion focuses on localized innovation and user experience, resulting in high brand loyalty among consumers. The company has developed technologies tailored to local needs, such as low-light photography and long battery life [22][23]. - **Track**: The company is diversifying its product offerings by expanding into 3C accessories and home appliances, which are expected to create a second growth curve [23][24]. - **Ecosystem**: Transsion is developing a software ecosystem based on Android, collaborating with leading internet companies to enhance its service offerings [24][26]. 3. Financial Forecast and Investment Recommendations - The report forecasts earnings per share (EPS) for 2023, 2024, and 2025 to be 6.82, 7.52, and 9.08 yuan, respectively. The price-to-earnings (PE) ratio for 2024 is estimated to be between 22-26x, suggesting a reasonable value range of 165.44 to 195.52 yuan [31][32].

Investment Rating - The report maintains a "Buy" rating for the company, with an upward adjustment of profit forecasts for 2023-2025 [5][6]. Core Insights - The company achieved a revenue of approximately 623.92 billion yuan in 2023, representing a year-on-year increase of 33.90%, and a net profit of about 55.03 billion yuan, up 121.55% year-on-year [5][6]. - The company ranked 4th globally in smartphone shipments in Q4 2023, with a total shipment of 94.9 million units, marking a 30.8% increase year-on-year, while the global smartphone market saw a decline of 3.2% [5][6]. - The company is expanding its market presence beyond Africa, achieving significant growth in South Asia and other regions, with a market share of 37.9% in Pakistan and 21.5% in Bangladesh [6]. Financial Data and Profit Forecast - The company’s total revenue for 2023 is projected at 623.92 billion yuan, with a net profit forecast of 55.03 billion yuan, and an expected growth rate of 33.9% for 2024 [7][8]. - The report indicates a continuous increase in revenue for Q2, Q3, and Q4 of 2023, with respective revenues of 158 billion yuan, 180 billion yuan, and 194 billion yuan, showing year-on-year growth rates of 31%, 39%, and 83% [5][6]. - The weighted average ROE for 2023 is reported at 31.07% [5].

Investment Rating - The report maintains a "Recommended" rating for the company, with a current price of 151.00 CNY [2][5] Core Insights - The company achieved a revenue of 62.392 billion CNY in 2023, representing a year-over-year growth of 33.9%. The net profit attributable to shareholders reached 5.503 billion CNY, up 121.6% year-over-year [1][2] - In Q4 2023, the company reported a record quarterly revenue of 19.37 billion CNY, a year-over-year increase of 83.4%, and a net profit of 1.62 billion CNY, reflecting a staggering year-over-year growth of 616.8% [1][2] - The company has successfully entered the global smartphone market as the fifth largest player, with a market share of 8.1% in 2023, driven by strong performance in emerging markets [1][2] Summary by Sections Financial Performance - The company reported a total revenue of 62.392 billion CNY for 2023, with a projected revenue of 75.669 billion CNY for 2024 and 91.197 billion CNY for 2025, indicating a growth rate of 21.3% and 20.5% respectively [2][5] - The net profit attributable to shareholders is expected to grow from 5.503 billion CNY in 2023 to 6.318 billion CNY in 2024 and 8.533 billion CNY in 2025, with growth rates of 14.8% and 35.1% respectively [2][5] Market Strategy - The company is focusing on expanding its presence in emerging markets, particularly in Africa, South Asia, the Middle East, and Latin America, while maintaining its core business in Africa [1][2] - The introduction of high-end products such as the TECNO PHANTOM V Fold and Infinix ZERO 30 5G is part of the company's strategy to enhance its product offerings and capture market share in new regions [1][2] Growth Drivers - The company is leveraging its core business advantages in Africa and Southeast Asia, while also exploring opportunities in Eastern Europe and Latin America to drive future growth [1][2] - The integration of AI technologies and the development of a high-efficiency data computing engine across multiple product lines are expected to enhance product differentiation and support revenue growth [1][2]

浦银国际研究 公司研究 | 科技行业 传音控股（688036.CH）：4Q23 智能 沈岱 浦 手机出货量及利润同比高成长 首席科技分析师 银 tony_shen@spdbi.com 国 (852) 2808 6435 际 重申传音控股的“买入”评级，上调目标价至人民币 179.4元，潜在 黄佳琦 升幅 16.7%。 科技分析师 重申传音控股“买入”评级：展望 2024 年，我们认为传音有望取 sia_huang@spdbi.com  得比较稳定且确定的增长。传音的基本面增长主要来自：1）得益 (852) 2809 0355 于美国利率有望下调，非洲等新兴地区智能手机需求有望复苏，从 2024年2月26日 而带动传音的手机基本盘复苏向上。2）传音积极开拓东南亚、拉 美等当前市场份额较小的智能手机区域，力争实现自身智能手机出 评级 公 货量增速高于全球智能手机市场增速。3）收入端的高速增长以及 司 公司经营性杠杆有望带动公司利润增长。因此，我们认为传音的基 目标价（人民币） 179.4 研 本面增长确定性和稳定性较高。同时，传音积极进行研发投入，开 潜在升幅/降幅 +16.7% 究 发 Gen-AI 智能手机 ...

Investment Rating - The report maintains a "Buy" rating for Transsion Holdings (688036) [1][14] Core Views - Strong demand in emerging markets and diversified layout lead to growth for Transsion Holdings [1][14] - In 2023, the company achieved revenue of 62.392 billion yuan, a year-on-year increase of 33.90%, and a net profit attributable to shareholders of 5.503 billion yuan, a year-on-year increase of 121.55% [3][16] - The company is focusing on expanding into new markets while maintaining its leading position in traditional markets like Africa and South Asia [5][18] Summary by Sections Financial Performance - In 2023, Transsion Holdings reported a revenue of 62.392 billion yuan, up 33.90% year-on-year, and a net profit of 5.503 billion yuan, up 121.55% year-on-year [3][16] - The fourth quarter of 2023 saw revenue of 19.37 billion yuan, a year-on-year increase of 83.36% and a quarter-on-quarter increase of 7.65% [3][16] - The company’s global shipment volume reached 94.9 million units in 2023, a year-on-year increase of 30.8%, making it the fourth largest smartphone manufacturer globally with an 8.6% market share in Q4 2023 [5][18] Market Expansion - Transsion Holdings has successfully expanded into new emerging markets, with shipment growth rates in the Middle East, Latin America, and Europe reaching 54%, 110%, and 68% respectively in 2023 [5][18] - The company is enhancing its product structure and focusing on high-end products, including the launch of its first foldable smartphone, TECNO PHANTOM V Fold, and the TECNO PHANTOM X2 series [5][18] Future Outlook - The report predicts that Transsion Holdings will continue to benefit from the recovery of the global smartphone market, with expected revenues of 84.547 billion yuan and 105.337 billion yuan for 2024 and 2025 respectively [19][20] - The company is expected to maintain a strong competitive edge in emerging markets, supported by its established market presence and ongoing product innovation [5][19]

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 投资者关系活动记录表 投资者关系 £特定对象调研 £分析师会议 £媒体采访 £业绩说明会 活动类别 £新闻发布会 R路演活动 £现场参观 £一对一沟通 £其他 参与单位及 287家机构391人次（详见附件《与会清单》） 人员 时间 2024年2月22日 地点 线上会议 ...