证券代码：688041 证券简称：海光信息 公告编号：2024-031 海光信息技术股份有限公司 关于股份回购实施结果暨股份变动的公告 一、 回购审批情况和回购方案内容 海光信息技术股份有限公司（以下简称"公司"）于 2024 年 2 月 22 日召开第二 届董事会第三次会议，审议通过了《关于以集中竞价交易方式回购公司股份方案 的议案》，同意公司将以自有资金通过上海证券交易所交易系统以集中竞价交易 方式回购公司已发行的部分人民币普通股（A 股）股票，在未来适宜时机用于员 工持股计划或股权激励。回购价格不超过 107.95 元/股（含）；回购资金总额不低 于人民币 30,000 万元（含），不超过人民币 50,000 万元（含）；回购期限自董事 会审议通过本次回购方案之日起不超过 12 个月。具体内容详见公司 2024 年 2 月 23 日于上海证券交易所网站（www.sse.com.cn）披露的《关于以集中竞价交易方 式回购公司股份的回购报告书》（公告编号：2024-003）。 因公司实施 2023 年年度权益分派，2024 年 6 月 18 日本次回购股份价格上限 由人民币 107.95 元/股（含）调整为 ...

证券代码：688041 证券简称：海光信息 公告编号：2024-032 海光信息技术股份有限公司 关于核心技术人员离职暨新增认定核心技术人员 的公告 张攀勇先生与公司签有保密协议等文件，不存在涉及职务发明创造、知 识产权相关的纠纷或潜在纠纷，张攀勇先生的离职不影响公司专利等知识产权的 完整性。 张攀勇先生在职期间负责的工作已妥善交接，本次核心技术人员调整不 会对公司研发实力、核心竞争力及公司的持续经营能力造成不利影响。 经公司研究，新增认定黄维先生为公司核心技术人员。 一、 公司核心技术人员离职的具体情况 公司原核心技术人员张攀勇先生因个人原因辞去所任职务，离职后将不再担 任本公司任何职务。公司及董事会对张攀勇先生任职期间为公司发展做出的贡献 表示衷心感谢！ （一）核心技术人员的具体情况 张攀勇，男，出生于 1981 年 4 月，中国科学院计算技术研究所计算机系统 结构博士。中国国籍，无永久境外居留权。2010 年 1 月至 2016 年 5 月，任中科 曙光存储产品事业部副总工程师。2016 年 5 月加入公司，任公司工程平台技术 中心主任工程师，公司核心技术人员。 截至本公告披露日，张攀勇先生未直接持有公 ...

中信证券股份有限公司 关于海光信息技术股份有限公司 核心技术人员离职暨新增认定核心技术人员的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为海光信息 技术股份有限公司（以下简称"公司"、"海光信息"或"发行人"）首次公开发行股 票并在科创板上市的保荐机构。根据《中华人民共和国公司法》《中华人民共和 国证券法》《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上 市规则》等有关规定，对海光信息本次核心技术人员离职暨新增认定核心技术人 员事项进行核查，核查情况如下： 一、公司核心技术人员离职的具体情况 公司原核心技术人员张攀勇先生因个人原因辞去所任职务，离职后将不再担 任公司任何职务。 （一）核心技术人员的具体情况 张攀勇，男，出生于 1981 年 4 月，中国科学院计算技术研究所计算机系统 结构博士。中国国籍，无永久境外居留权。2010 年 1 月至 2016 年 5 月，任中科 曙光存储产品事业部副总工程师。2016 年 5 月加入公司，任公司工程平台技术 中心主任工程师，公司核心技术人员。 截至本核查意见披露日，张攀勇先生未直接持有公司股票。 （二）参与的研发项目及专利情况 ...

信创、AI 双轮驱动,CPU+GPU 国产替代领航者 海光信息(688041.SH)/计 算机 证券研究报告/公司深度报告 2024 年 07 月 18 日 [Table_Title] 评级:买入(首次) 市场价格:75.36 分析师:孙行臻 执业证书编号:S0740524030002 Email:sunxz@zts.com.cn 分析师:王芳 执业证书编号:S0740521120002 Email:wangfang02@zts.com.cn [Table_Finance] 公司盈利预测及估值 | --- | --- | --- | --- | --- | --- | |------------------|-------|-------|-------|--------|--------| | 指标 | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业收入(百万元) | 5,125 | 6,012 | 8,605 | 11,873 | 15,793 | | 增长率 yoy% | 122% | 17% | 43% | 38% | 33% | | 净利润(百万元) | 8 ...

Investment Rating - The report maintains a "Buy" rating for the company [1][7]. Core Insights - The company is experiencing rapid revenue growth driven by the demand for AI computing and domestic innovation [1][4]. - The expected revenue for the first half of 2024 is projected to be between 35.80 billion to 39.20 billion yuan, representing a year-on-year increase of 37.08% to 50.09% [3]. - The company's net profit for the same period is anticipated to be between 7.88 billion to 8.86 billion yuan, with a year-on-year growth of 16.32% to 30.78% [3]. Summary by Sections Recent Performance - In Q2 2024, the company's revenue is estimated to be approximately 19.88 to 23.28 billion yuan, reflecting a year-on-year growth of 37% to 61% [1]. - The net profit attributable to the parent company is projected to be between 4.99 billion to 5.97 billion yuan, with a year-on-year increase of 14% to 36% [1]. Market Dynamics - The demand for domestic AI computing is accelerating, with significant adoption among internet, government, and enterprise clients [4]. - The penetration rate of domestic products in the general computing market is expected to increase, supported by government policies and industry standards [4]. Product Leadership - The company is positioned as a leader in domestic DCU and CPU markets, with products that offer versatility and ecosystem advantages [5]. - The company's CPU is widely used across various sectors, including telecommunications, finance, and education, supporting both high-end and mid-range server applications [6]. Financial Projections - Revenue forecasts for 2024 to 2026 are adjusted to 83.09 billion, 111.98 billion, and 149.56 billion yuan, respectively, with net profits projected at 17.35 billion, 23.43 billion, and 31.49 billion yuan [6]. - The earnings per share (EPS) are expected to be 0.75, 1.01, and 1.35 yuan for the years 2024 to 2026 [6].

Investment Rating - Maintain "Buy" rating [2] Core Views - The company's 2024H1 performance continues to grow significantly, with revenue expected to increase by 37.08% to 50.09% YoY, reaching RMB 3.58 billion to RMB 3.92 billion [1] - Net profit attributable to the parent company is expected to grow by 16.32% to 30.78% YoY, reaching RMB 788 million to RMB 886 million [1] - The company's CPU and DCU products demonstrate excellent performance, with a well-established ecosystem [1] - The company is a leader in domestic computing power, with its DCU supporting large-scale model training and applications such as LLaMa, GPT, and ChatGLM [1] Domestic Computing Power Infrastructure - The domestic computing power infrastructure is progressing steadily, with Beijing aiming to achieve a computing power supply scale of 45 EFLOPS by 2025 [2] - By 2027, Beijing plans to achieve 100% self-controllable computing center construction capabilities, supporting the training and inference of large models [2] X86 and CUDA Ecosystem - The company possesses rare domestic x86 design capabilities and is one of the few integrated circuit design companies with both high-end general-purpose processors and co-processor R&D capabilities [2] - The x86 architecture and CUDA ecosystem form core barriers, with CUDA being widely used by 4 million developers globally as of May 2023 [2] Financial Projections - Revenue for 2024-2026 is projected to be RMB 8.275 billion, RMB 11.060 billion, and RMB 14.473 billion, respectively [2] - Net profit attributable to the parent company for 2024-2026 is expected to be RMB 1.736 billion, RMB 2.293 billion, and RMB 2.945 billion, respectively [2] Financial Performance (2022-2023) - Revenue in 2022 was RMB 5.125 billion, growing by 121.8% YoY, while 2023 revenue was RMB 6.012 billion, growing by 17.3% YoY [3] - Net profit attributable to the parent company in 2022 was RMB 804 million, growing by 145.7% YoY, while 2023 net profit was RMB 1.263 billion, growing by 57.2% YoY [3] Stock Information - The stock closed at RMB 72.00 on July 15, 2024, with a total market capitalization of RMB 167.352 billion [7] - The free float ratio is 37.88%, with a 30-day average trading volume of 13.87 million shares [7]

电子 | 证券研究报告 — 调整盈利预测 2024 年 7 月 15 日 688041.SH 买入 原评级:买入 市场价格:人民币 70.59 板块评级:强于大市 股价表现 (37%) (27%) (17%) (7%) 2% 12% Jul-23Aug-23Sep-23Oct-23Nov-23Dec-23Jan-24Mar-24Apr-24May-24Jun-24Jul-24 海光信息 上证综指 (%) 今年 至今 1 个月 3 个月 12 个月 绝对 (2.4) (0.5) (9.5) (5.8) 相对上证综指 (2.8) 1.7 (7.9) 1.2 | --- | --- | |--------------------------|------------| | 发行股数 (百万) | 2,324.34 | | 流通股 (百万) | 880.56 | | 总市值 (人民币 百万) | 164,075.03 | | 3 个月日均交易额 (人民币 | 1,100.34 | | 主要股东 | | | 曙光信息产业股份有限公司 | 27.96 | | 资料来源:公司公告,Wind | | 以 2024 年 7 月 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 20% relative to the market benchmark within the next six months [12]. Core Views - The company is projected to achieve revenue of 35.8-39.2 billion yuan in H1 2024, representing a year-on-year growth of 37.08% to 50.09%. For Q2 2024, revenue is expected to reach 21.58 billion yuan, with a year-on-year increase of 49% and a quarter-on-quarter increase of 36% [1]. - The net profit for H1 2024 is forecasted to be between 7.88-8.86 billion yuan, with a year-on-year growth of 16.32% to 30.78%. For Q2 2024, the net profit is expected to be 5.48 billion yuan, reflecting a year-on-year increase of 25% and a quarter-on-quarter increase of 90% [1]. - The company's net profit margin is projected to be 22.3% for H1 2024, with a Q2 2024 margin of 25.4%, showing a year-on-year decline but a quarter-on-quarter improvement [2]. - The company is positioned as a leader in domestic computing chips, benefiting from the growing demand for domestic CPU and DCU products amid the rise of AI and the domestic self-sufficiency trend [3]. - The report anticipates that the company will achieve revenues of 87.0 billion yuan, 118.4 billion yuan, and 151.0 billion yuan for the years 2024, 2025, and 2026, respectively, with corresponding net profits of 18.2 billion yuan, 25.9 billion yuan, and 36.0 billion yuan [4]. Financial Summary - The company is expected to have a total revenue of 6,012 million yuan in 2023, growing to 8,699 million yuan in 2024, with a growth rate of 45% [7]. - The projected net profit for 2023 is 1,263 million yuan, increasing to 1,818 million yuan in 2024, reflecting a growth rate of 44% [7]. - The earnings per share (EPS) is forecasted to be 0.54 yuan in 2023, rising to 0.78 yuan in 2024 [7]. - The company’s price-to-earnings (P/E) ratio is expected to be 90.3 in 2024, decreasing to 63.4 in 2025 and 46 in 2026 [7].

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][5][13] Core Views - The company is expected to achieve significant revenue growth, with a forecasted revenue of 35.8-39.2 billion yuan for the first half of 2024, representing a year-on-year increase of 37.08% to 50.09% [6] - The net profit for the same period is projected to be between 7.88-8.86 billion yuan, showing a year-on-year growth of 16.32% to 30.78% [6] - The company is well-positioned in the domestic CPU and DCU markets, which supports the long-term growth outlook [5][7] Financial Projections - The forecasted net profit for 2024-2026 is 17.93 billion, 25.18 billion, and 33.70 billion yuan respectively, with corresponding EPS of 0.77, 1.08, and 1.45 yuan per share [5] - The current price-to-earnings (PE) ratios are projected to be 91.5, 65.2, and 48.7 for the years 2024, 2025, and 2026 respectively [5] - The company’s revenue is expected to grow from 8.617 billion yuan in 2024 to 16.417 billion yuan in 2026, with year-on-year growth rates of 43.3% and 35.0% respectively [9] Market Position and Industry Outlook - The domestic computing power market is anticipated to experience unprecedented growth, driven by government initiatives and increasing demand for domestic solutions [7] - The company’s DCU series products are expected to become mainstream GPU products in China, leveraging their compatibility with major AI models [8] - The overall computing power scale in China is projected to exceed 300 EFLOPS by 2025, with a significant portion attributed to intelligent computing [7]

Revenue Projections - The company expects to achieve operating revenue of between 358 million and 392 million CNY for the first half of 2024, representing a year-on-year increase of 96.83 million to 130.83 million CNY, or a growth rate of 37.08% to 50.09%[4]. - The company achieved operating revenue of 2.6116941 billion CNY in the same period last year[6]. Profit Projections - The projected net profit attributable to the parent company for the first half of 2024 is between 788 million and 886 million CNY, an increase of 110.55 million to 208.55 million CNY compared to the same period last year, reflecting a growth of 16.32% to 30.78%[5]. - The expected net profit attributable to the parent company after deducting non-recurring gains and losses is estimated to be between 726 million and 821 million CNY, with an increase of 107 million to 202 million CNY year-on-year, corresponding to a growth of 17.29% to 32.63%[5]. - The net profit attributable to the parent company in the previous year was 677.4518 million CNY[6]. R&D Investment - The company maintains a high level of R&D investment, focusing on providing high-performance, reliable, and low-power products, which has contributed to sustained performance growth[7]. Performance Forecast Accuracy - There are currently no significant uncertainties affecting the accuracy of this performance forecast[8]. - The financial data provided is preliminary and subject to change upon the official release of the 2024 semi-annual report[8].