1、2021年9月27日，公司第一届董事会第十四次会议审议通过了《关于公司 <2021年限制性股票激励计划（草案）>及其摘要的议案》、《关于公司<2021年限 制性股票激励计划实施考核管理办法>的议案》、《关于公司<2021年限制性股票 激励计划管理办法>的议案》以及《关于<提请公司股东大会授权董事会办理2021 年限制性股票激励计划相关事宜>的议案》。公司独立董事就本激励计划相关议案 发表了独立意见。 2、2021 年 9 月 27 日，公司第一届监事会第十次会议审议通过了《关于公 司<2021 年限制性股票激励计划（草案）>及其摘要的议案》、《关于公司<2021 年限制性股票激励计划实施考核管理办法>的议案》、《关于公司<2021 年限制性 股票激励计划管理办法>的议案》以及《关于核实公司<2021 年限制性股票激励 计划首次授予激励对象名单>的议案》，公司监事会对本激励计划的事项进行核实 并出具了相关核查意见。 3、2021 年 12 月 27 日，公司在上海证券交易所网站（www.sse.com.cn）披 1 证券代码：688055 证券简称：龙腾光电 公告编号：2025-012 昆山龙腾光电股份有限 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥600,969,190.51, representing a decrease of 35.16% compared to ¥926,819,676.17 in the same period last year[3] - The net profit attributable to shareholders was -¥57,227,841.69, slightly improved from -¥58,779,802.35 year-on-year[3] - The basic and diluted earnings per share were both -¥0.017, consistent with the previous year's -¥0.018[3] - Total revenue for Q1 2025 was ¥600,969,190.51, a decrease of 35.2% compared to ¥926,819,676.17 in Q1 2024[17] - Net loss for Q1 2025 was ¥57,227,841.69, slightly improved from a net loss of ¥58,779,802.35 in Q1 2024[18] - Operating profit for Q1 2025 was -¥73,849,188.08, compared to -¥75,504,753.84 in Q1 2024, indicating a marginal improvement[18] Cash Flow - The net cash flow from operating activities increased significantly to ¥180,713,447.43, compared to -¥10,000,626.78 in the previous year, marking a 1,907.02% change[3] - Cash received from sales in Q1 2025 was ¥859,669,928.47, down 14.7% from ¥1,007,660,466.48 in Q1 2024[21] - Total cash inflow from investment activities amounted to $1.02 billion, while cash outflow was $1.17 billion, resulting in a net cash flow of -$152.84 million[22] - Cash inflow from financing activities was $280.17 million, with cash outflow totaling $126.98 million, leading to a net cash flow of $153.19 million[23] - The ending balance of cash and cash equivalents was $321.44 million, compared to $2.09 billion in the previous period[23] - The company received tax refunds totaling $14.46 million, down from $24.33 million in the previous period[22] - Cash paid for employee compensation was $142.04 million, slightly decreased from $147.89 million[22] - Cash paid for various taxes was $16.50 million, compared to $27.85 million previously[22] - Cash inflow from the recovery of investments was $1.01 billion, with no prior period comparison available[22] - Cash paid for the acquisition of fixed assets was $36.92 million, a slight decrease from $38.25 million[22] - The impact of exchange rate changes on cash and cash equivalents was a decrease of $1.41 million, contrasting with an increase of $3.54 million in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,671,614,038.49, up 1.38% from ¥6,580,807,029.34 at the end of the previous year[4] - Total liabilities increased to ¥2,440,812,718.73 from ¥2,292,847,281.28, reflecting a rise of 6.5%[16] - The company's total non-current assets were ¥3,676,736,567.59, slightly down from ¥3,686,583,719.66[16] - The total current assets amounted to RMB 2,994,877,470.90, an increase from RMB 2,894,223,309.68 in the previous period[14] - The inventory level was RMB 626,594,148.13, showing a slight increase from RMB 615,177,279.88[14] - The company holds cash and cash equivalents of RMB 321,439,469.45, up from RMB 141,783,946.97[14] - The total non-current assets are valued at RMB 3,546,000,000, with fixed assets accounting for RMB 2,508,949,399.18[14] Shareholder Information - The equity attributable to shareholders decreased by 1.33% to ¥4,230,801,319.76 from ¥4,287,959,748.06[4] - The largest shareholder, Kunshan Guochuang Investment Group Co., Ltd., holds 1,530,000,000 shares, representing 45.90% of total shares[8] - The company has a total of 10 major shareholders, with the largest being Kunshan Guochuang Investment Group Co., Ltd., holding 1,530,000,000 shares[9] - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[10] Research and Development - Research and development expenses totaled ¥47,851,349.42, accounting for 7.96% of operating revenue, an increase of 2.18 percentage points from 5.78%[4] - Research and development expenses for Q1 2025 were ¥47,851,349.42, a decrease from ¥53,524,662.18 in Q1 2024[18] Market Conditions - The decline in operating revenue was attributed to a slow global economic recovery and ongoing trade disputes, affecting the small-sized display industry[6] Other Information - The company reported non-recurring gains of ¥5,074,058.26, primarily from government subsidies and other non-operating income[6] - The company has not disclosed any new product launches or technological advancements in the recent conference call[11] - There are no significant mergers or acquisitions reported in the latest financial disclosures[11] - Total operating costs for Q1 2025 were ¥663,195,838.55, down 30.6% from ¥955,902,305.04 in Q1 2024[17]

Financial Performance - The company reported a negative distributable profit for 2024, thus no cash dividends or capital reserve transfers will be made[8]. - The company reported total operating revenue of CNY 3,413,133,710.24 for 2024, a decrease of 9.77% compared to the previous year[24]. - The net profit attributable to shareholders was CNY -190,318,664.86, showing an improvement of 31.64% year-on-year[25]. - The basic earnings per share for 2024 was CNY -0.057, compared to CNY -0.084 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -246,813,424.41, an improvement of 17.49% year-on-year[25]. - The net cash flow from operating activities decreased by 64.93% to CNY 248,230,083.29 compared to the previous year[25]. - The total assets at the end of 2024 were CNY 6,580,807,029.34, a decrease of 10.68% from the previous year[24]. - The weighted average return on equity was -4.33%, an increase of 1.66 percentage points from the previous year[23]. - The company's asset-liability ratio stood at 34.84%, which is relatively low within the industry[34]. - The company's total revenue for the reporting period was CNY 3,413.13 million, a decrease of 9.77% compared to the same period last year[66]. Research and Development - The company’s R&D expenditure accounted for 6.71% of operating revenue, an increase of 0.89 percentage points from the previous year[23]. - R&D investment for the reporting period was approximately 22.9 million RMB, accounting for 6.71% of operating revenue, with 221 new patents granted[36]. - The company achieved a total R&D investment of ¥228,997,062.18, representing a 4.04% increase compared to the previous year[51]. - The company received 58 new invention patents and 163 utility model patents during the reporting period, bringing the total authorized patents to 3,384[49]. - The company is focusing on innovative technologies such as dynamic privacy protection and low-power display solutions, which are at the industry advanced level[58]. - The company has made significant progress in R&D, including improvements in metal oxide technology and the development of new notebook panel anti-peep structures to enhance product reliability and meet customer needs[46]. Market Position and Strategy - The company ranked sixth globally in vehicle display panel shipments and ninth in notebook panel shipments for 2024[42]. - The company is focusing on expanding its overseas production bases and optimizing its supply chain to enhance its global business layout[35]. - The company is committed to enhancing its product structure and performance in key areas such as automotive displays and smart cockpit technologies[35]. - The company is actively expanding its market presence and developing differentiated products to meet the growing demand for high-resolution and energy-efficient displays[70]. - The company aims to implement a differentiated, high-value, and customized strategy to enhance its competitive edge in the display panel industry[76]. ESG and Sustainability - The company received AA-level evaluation from Zhidin ESG and has been recognized with multiple awards for its ESG initiatives[37]. - The company is committed to accelerating ESG initiatives, integrating sustainable practices into daily operations, and enhancing its ESG management system to support carbon neutrality goals[134]. - The company is actively participating in social contributions and promoting the development and use of recycled materials in its supply chain[200]. - The company is committed to building a sustainable supply chain through supplier ESG construction and collaboration[200]. - The company has set scientific carbon targets (SBT) and is actively conducting carbon inventory and verification to promote low-carbon development[200]. Corporate Governance - The company maintains a robust corporate governance structure, ensuring independence from its controlling shareholder and compliance with relevant laws and regulations[137]. - The board of directors is composed of qualified members who fulfill their duties diligently, ensuring sound decision-making and governance practices[139]. - The company has established an effective internal control system to ensure compliance with financial reporting standards and optimize management processes[142]. - The company received an A-level rating for its information disclosure practices from the Shanghai Stock Exchange, reflecting its commitment to transparency and investor rights[143]. - The company has implemented a comprehensive ESG strategy, focusing on safety, environmental compliance, and energy-saving projects to enhance its sustainable development efforts[134]. Future Outlook - The global smartphone market is expected to recover in 2024, driven by the release of pent-up demand, with a steady increase in shipments anticipated[123]. - The automotive display market is projected to grow due to the rapid development of the electric vehicle market and the increasing demand for advanced cockpit information systems[122]. - The electronic paper market is expected to expand significantly, supported by policies promoting paperless applications and the technology's advantages in low carbon and eye protection[123]. - The company plans to enhance its global supply chain by establishing overseas production bases, optimizing product structure, and expanding into emerging markets such as smart cockpits and AI applications[127]. - The company aims to strengthen its technological advantages by increasing R&D investment in diverse technologies, including Mini LED, health-oriented displays, and dynamic privacy protection[128].

上海兰迪律师事务所 关于昆山龙腾光电股份有限公司 2021 年限制性股票激励计划 作废部分限制性股票的 法 律 意 见 书 中国上海市虹口区东大名路 1089 号北外滩来福士广场东塔 16 楼（20082） 16th Floor, East Tower, Raffles City, No.1089, Dongdaming Road, Hongkou District, 200082, Shanghai, China Tel: 8621-66529952 Fax: 8621-66522252 www.landinglawyer.com 上海兰迪律师事务所 关于昆山龙腾光电股份有限公司 2021 年限制性股票激励计划作废部分限制性股票的 法律意见书 致:昆山龙腾光电股份有限公司 上海兰迪律师事务所接受昆山龙腾光电股份有限公司(以下简称"龙腾光电" 或"公司",证券代码 688055）的委托,为公司实施 2021 年限制性股票激励计 划所涉及的相关事宜出具法律意见书。 本所律师根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公 司股权激励管理办法》《国有控股上市公司(境内)实施股权激励试行办法》《关 于规 ...

昆山龙腾光电股份有限公司 审计报告 2024 年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 审计报告 苏公 W[2025]A551 号 昆山龙腾光电股份有限公司全体股东： 一、审计意见 我们审计了昆山龙腾光电股份有限公司（以下简称"龙腾光电"）的财务报表， 包括2024年12月31日的合并及母公司资产负债表，2024年度的合并及母公司利润表、 合并及母公司现金流量表、合并及母公司所有者权益变动表，以及财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制，公 允反映了龙腾光电2024年12月31日的合并及母公司财务状况以及2024年度的合并及 母公司经营成果和现金流量。 二、形成审计意见的基 ...

昆山龙腾光电股份有限公司 非经营性资金占用及其他关联 2024 年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 资金往来情况的专项说明 关于昆山龙腾光电股份有限公司 非经营性资金占用及其他关联资金往来情况的专项说明 苏公W[2025]E1215号 昆山龙腾光电股份有限公司全体股东： 如实编制和对外披露汇总表并确保其真实、准确、合法及完整是龙腾光电管理 层的责任。我们对汇总表所载资料与我们审计龙腾光电 2024 年度财务报表时所复核 的会计资料和经审计的财务报表的相关内容进行了核对，在所有重大方面没有发现 不一致。除了对龙腾光电实施 2024 年度财务报表审计中所执行的关联交易有关的审 计程序外，我们并未对汇总表所载资料 ...

昆山龙腾光电股份有限公司 内部控制审计报告 2024 年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 内部控制审计报告 苏公 W[2025]E1216 号 昆山龙腾光电股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们 审计了昆山龙腾光电股份有限公司（以下简称龙腾光电）2024年12月31日的财务报 告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控 制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是龙腾光电 董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控 ...

公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 昆山龙腾光电股份有限公司 营业收入扣除情况的 专项核查意见 2024 年度 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 中国．江苏．无锡 Wuxi．Jiangsu．China 2024 年度营业收入扣除情况的专项核查意见 苏公W[2025]E1213号 昆山龙腾光电股份有限公司全体股东： 我们接受委托，审计了昆山龙腾光电股份有限公司（以下简称龙腾光电）财务 报表，包括 2024 年 12 月 31 日的合并及母公司资产负债表，2024 年度的合并及母 公司利润表、合并及母公司现金流量表、合并及母公司所有者权益变动表以及相关 财务报表附注，并于 2025 年 4 月 25 日出具了苏公 W[2025]A551 号无保留意见审计 报告。在此基础上，我们核查了后附的龙腾光电管理层编 ...

Core Viewpoint - The 13th China Electronic Information Expo (CITE 2025) showcased innovative display technologies from various manufacturers, highlighting advancements in OLED, Mini-LED, and other display technologies. Group 1: TCL Huaxing - TCL Huaxing presented its HVA Ultra Starry Screen, featuring 178° wide viewing angle, DCI-P3 98% color gamut, and a narrow bezel of 2.9mm, achieving picture quality comparable to OLED [2] - The company showcased its first mass-produced printed OLED 4K display with a 120Hz refresh rate and a bezel-less design, currently with a production capacity of 5.5K, aiming to expand to over 10K [4] - TCL Huaxing's environment light adaptive TV screen utilizes advanced a-Si In-cell Sensor technology to automatically adjust brightness and color temperature, effectively reducing energy consumption [5] - Additional products included an eye-care tablet with anti-reflective features and the world's thinnest LCD laptop module [7] Group 2: Tianma Microelectronics - Tianma Microelectronics focused on automotive display products, showcasing a 13-inch dual-screen curved OLED display that enhances readability and interaction for drivers [8] - The display features Corning's Cold Form™ technology, achieving a reflection rate of 0.5% and a color deviation of Delta E<0.8, creating an integrated large-screen visual effect [10] - The company also exhibited ultra-narrow bezel, high-resolution flexible screens, and low-power displays [11] Group 3: Hehui Optoelectronics - Hehui Optoelectronics displayed a flexible 11.3-inch AMOLED tablet with variable refresh rates from 1 to 120Hz, utilizing IGZO technology for low power consumption and high brightness [13] - In the automotive sector, a 13-inch 2.5K tandem AMOLED display was showcased, achieving peak brightness of 2500 nits and a lifespan four times longer than single-layer displays, with a 30% reduction in power consumption [15] - Other products included a 6.02-inch FHD+ flexible AMOLED phone display and a 27-inch 4K 120Hz AMOLED desktop monitor [17] Group 4: Longteng Optoelectronics - Longteng Optoelectronics presented a 14-inch interactive privacy screen with a resolution of 1920*1200 and a contrast ratio of 1500:1, featuring low blue light protection [18] - The company also showcased displays for the medical industry, including 8.4-inch, 12.1-inch, and 15-inch screens designed for clinical monitoring [20] - In the automotive display sector, a 12.3-inch anti-peep touch screen was exhibited, supporting FHD resolution and 1000 nits brightness [21] Group 5: Dahui International - Dahui International, a partner of AUO, highlighted a new generation of Micro LED transparent displays with a lifespan of 100,000 hours and a brightness of 1200 nits [24][26] Group 6: Philips Television - Philips showcased its 75-inch QD-MiniLED wall-mounted AI television MLED960, featuring a refresh rate of 288Hz and a color gamut of 93% DCI-P3 [27] - The 75-inch ambient light television PUF8568 intelligently adjusts ambient light to balance screen brightness, reducing visual strain [28] Group 7: Play Your Dream - Play Your Dream introduced the world's first Android-based spatial computer, featuring dual 8K Micro-OLED screens with a resolution of 27 million pixels and a refresh rate of 90Hz [31][33]

Core Viewpoint - The LCD TV panel prices are expected to continue rising in March 2025, driven by stable demand and the impact of China's trade-in policy [3][10]. Group 1: Market Overview - From February 2025 to the present, the panel index has increased by 2.24%, underperforming compared to major indices like the Shanghai Composite and Shenzhen Component [3][8]. - As of March 13, 2025, the total market capitalization of the A-share panel industry is 562.467 billion yuan, with an overall price-to-book ratio of 1.61x, which is at the 61.0% percentile of the past five years [3][8]. Group 2: Price & Cost - In February 2025, the prices for various sizes of LCD TV panels were as follows: 32-inch at $38, 43-inch at $64, 50-inch at $103, 55-inch at $129, and 65-inch at $177, with month-on-month increases of 2.7%, 1.6%, 1.0%, 0.8%, and 1.1% respectively [10]. - The prices for IT panels in February 2025 remained stable for most sizes, with a slight increase for the 23.8-inch panel [10]. Group 3: Supply & Demand - In January 2025, the global shipment area for large-size LCD panels increased by 7.34% year-on-year, with a total shipment of 71.494 million units, reflecting a 12.42% year-on-year growth [14][17]. - The average size of LCD TVs is projected to increase, contributing to the growth in demand for LCD panels [20]. Group 4: Performance Review - In January 2025, the global revenue for large-size LCD panels was $5.426 billion, showing a year-on-year increase of 6.85% [37]. - Major LCD manufacturers in China reported a total revenue of 510.133 billion yuan in 2023, with a slight year-on-year growth of 0.94% [42]. Group 5: Investment Recommendations - The report recommends focusing on key players in the LCD panel supply chain, particularly BOE Technology Group [7].