我就公司的一些基本情况做一个简单的介绍然后呢把时间呢留给大家如果有什么问题呢咱们进行这个交流 我们公司在科考版上市也有四年的时间我们20年年初的时候上市现在大家对我们都不陌生我们一直都是在工业物联网领域里面做一些耕耘我们主要业务就是在工业物联网基础的研发和应用现在公司的产品主要是一些工业物联网的通信产品以及一些针对一些垂直的行业做一些加砖的整体解决方案工业物联网下游的领域非常的多比较分散公司这块主要是围绕着五个大的业务板块 工业与楼宇IoT数据能源、智慧商业、企业网络和车载运输这五个板块来去做像工业、数据能源还有智慧商业其实是我们前些年一直在做的第三个板块这两年因为随着一些技术的发展包括本身公司这块市场拓展的不断的往前走我们现在也拓展了两个新的板块一个是企业网络一个是车载运输这两个板块现在我们公司就定了一个基调就是围绕这五个业务板块做相应的市场拓展 那主要产品呢就是工业级的路由器无线处理终端网关类的包括这个边线网关还有这个车载网关有针对企业网络的边缘路由等等工业以太网交换机等等这一类的工业物联网通信产品还有一类呢就是这个像智能配网装载监测系统智能收货控制系统包括智能车联网等等这样的物联网的创新解决方案 那现在 ...

光大证券股份有限公司关于北京映翰通网络技术股份有限公司 2023 年度持续督导跟踪报告 光大证券股份有限公司 关于北京映翰通网络技术股份有限公司 2023 年度持续督导跟踪报告 光大证券股份有限公司（以下简称"光大证券"、"本保荐机构"或"保荐机 构"）作为北京映翰通网络技术股份有限公司（以下简称"映翰通"或"公司"）首 次公开发行股票并在科创板上市及进行持续督导的保荐机构，根据《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》等有关法律 法规和规范性文件的要求，负责映翰通上市后的持续督导工作，并出具 2023 年 度持续督导跟踪报告。 | 序号 | 工作内容 | 持续督导情况 | | --- | --- | --- | | 1 | 建立健全并有效执行持续督导工作制度， | 保荐机构已建立健全并有效执行 | | | 并针对具体的持续督导工作制定相应的工 | 了持续督导制度，并制定了相应 | | | 作计划 | 的工作计划。 | | 2 | 根据中国证监会相关规定，在持续督导工 | 保荐机构已与映翰通签订《持续 | | | 作开始前，与上市公司签署持续督导协 | 督导协议》，该协议明确了双 ...

光大证券股份有限公司 关于北京映翰通网络技术股份有限公司首次公开发行股票 光大证券股份有限公司（以下简称"光大证券"或"保荐机构"）作为北京映翰 通网络技术股份有限公司（以下简称"映翰通"或"公司"）首次公开发行股票并在 科创板上市的保荐机构，根据《证券发行上市保荐业务管理办法》等有关规定， 对映翰通首次公开发行股票并在科创板上市进行尽职推荐和持续督导，持续督导 期至 2023 年 12 月 31 日。目前，持续督导期限已满，保荐机构根据《证券发行 上市保荐业务管理办法》等相关法规和规范性文件的要求，出具本保荐总结报告 书。 一、保荐机构及保荐代表人承诺 1、保荐总结报告书和证明文件及其相关资料的内容不存在虚假记载、误导 性陈述或重大遗漏，保荐机构及保荐代表人对其真实性、准确性、完整性承担法 律责任。 2、本保荐机构及本人自愿接受中国证券监督管理委员会（以下简称"中国 证监会"）对保荐总结报告书相关事项进行的任何质询和调查。 3、本保荐机构及本人自愿接受中国证监会按照《证券发行上市保荐业务管 理办法》的有关规定采取的监管措施。 二、保荐机构基本情况 | 保荐机构名称 | 光大证券股份有限公司 | | --- ...

[Table_InvestInfo] | --- | --- | |---------------------------------------------------|-------------| | 股票数据 | | | 04 [ Table_StockInfo 月 29 日收盘价（元） ] | 34.97 | | 52 周股价波动（元） | 21.44-73.44 | | 总股本 / 流通 A 股（百万股） | 74/74 | | 总市值 / 流通市值（百万元） 相关研究 | 2574/2574 | | --- | --- | --- | --- | |--------------------------------------------|-------|-------|-------| | | | | | | 沪深 300 对比 | 1M | 2M | 3M | | 绝对涨幅（ % ） | | | | | | -3.7 | 4.7 | -5.2 | | 相对涨幅（ % ） 资料来源：海通证券研究所 | -3.8 | 3.5 | -10.8 | 经营业绩亮眼，24Q1 合同负债高增 事件：映翰通发布 ...

Investment Rating - The report initiates coverage on Yingtong (688080) with a "Buy" rating and a 6-month target price of 41.75 RMB [1] - The target price is based on a 25x PE multiple for 2024, reflecting a 31% CAGR in profits from 2024-2026 [1] Core Views - Yingtong is expected to achieve EPS of 1.67 RMB, 2.24 RMB, and 2.87 RMB for 2024-2026, with corresponding PE ratios of 19x, 14x, and 11x [1] - The company's revenue grew 27.5% YoY to 490 million RMB in 2023, with net profit increasing 33.6% YoY to 90 million RMB [2] - Q1 2024 revenue reached 110 million RMB, up 12.6% YoY, while net profit surged 74.7% YoY to 20 million RMB, exceeding expectations [2] Business Performance - Industrial IoT communication products generated 280 million RMB in revenue in 2023, up 25.1% YoY [14] - Smart power grid monitoring products saw revenue grow 58.2% YoY to 130 million RMB in 2023 [14] - Smart vending system revenue declined 10.3% to 50 million RMB due to global economic challenges [14] Financial Metrics - Gross margin improved by 3.4 percentage points to 51.5% in 2023, driven by product upgrades and RMB depreciation [14] - Q1 2024 gross margin reached 52.8%, up 5 percentage points YoY [14] - Net margin increased to 19.1% in 2023, up 1.1 percentage points YoY [14] International Expansion - The company accelerated its global expansion, launching FWA, ODU, and cellular router products for the North American market [3] - Developed ITXPT-compliant products for the European market and completed the IWOS version for overseas markets [3] - AI-powered vending cabinets are being tested in Southeast Asia, with development for North America underway [3] AI and Technology - Yingtong has established deep learning-based visual recognition capabilities, integrating AI across its product portfolio [3] - The company launched edge computing products with AI acceleration capabilities, widely used in industrial routing, vehicle networking, and smart retail [3] R&D and Innovation - R&D expenses accounted for 12.5% of revenue in Q1 2024, with 159 R&D personnel representing 41% of total staff [51] - The company introduced new products in 2023, including the IR924 industrial 4G router and AI-powered refrigerated vending cabinets [51] Valuation and Growth - The report forecasts a 25% revenue CAGR for 2024-2026, with profit growth slightly exceeding revenue growth due to economies of scale [54] - Yingtong's valuation is supported by its 31% profit CAGR and a 25x PE multiple for 2024, in line with industry peers [54]

Investment Rating - The report maintains an "Overweight" rating for the company with a target price of 51.60 CNY, unchanged from the previous prediction [5][7] - The current stock price is 33.24 CNY, indicating a significant upside potential based on the target price [5][7] Core Views - The company's 2023 performance met expectations, with revenue and net profit growing steadily [5] - Revenue reached 493 million CNY, a 27.49% year-over-year increase, while net profit attributable to shareholders grew 34.29% to 94 million CNY [5] - The growth was driven by increased sales of industrial IoT communication products (25.13% growth) and smart power grid monitoring systems (58.15% growth) [5] - The company's overseas business shows potential for breakthroughs, with pilot applications in 20 countries including Saudi Arabia and Thailand [5] - The industrial IoT sector is expected to contribute 4.69 trillion CNY to China's economy in 2023, providing growth opportunities for the company [5] Financial Performance - The company achieved a gross margin of 51.5% in 2023, up from 48.1% in 2022 [13] - Operating profit margin improved to 18.2% in 2023 from 14.0% in 2022 [13] - Net profit margin increased to 19.0% in 2023 from 18.2% in 2022 [13] - Return on equity (ROE) improved to 10.3% in 2023 from 8.6% in 2022 [13] Future Projections - Revenue is expected to grow to 1.067 billion CNY by 2026, with a compound annual growth rate of approximately 29% [13] - Net profit is projected to reach 248 million CNY by 2026, with a CAGR of around 35% [13] - EPS is forecasted to grow from 1.28 CNY in 2023 to 3.37 CNY in 2026 [13] Industry Outlook - The industrial IoT sector is experiencing stable growth, with increasing demand for smart grid solutions [5] - The company is well-positioned to benefit from the expansion of power grid intelligence and overseas market opportunities [5]

[Table_ReportType] 公司点评/通信行业 请务必阅读正文最后的中国银河证券股份有限公司免责声明。 2 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------|-------|-------|---------------------------------|-------|---------------------------------|-------------------------|------------------------------|---------------------|---------| | [Table_Money] 资产负债表（百万元） | | | 2023A 2024E 2025E 2026E | | 利润表（百万元） | 2023A 2024E 2025E 2026E | | | | | 流动资产 961.81 1135.99 1371.76 1687.04 | | | | | 营业收入 | | 493 ...

Investment Rating - The report maintains a "Recommend" rating for the company, indicating an expected relative benchmark index increase of over 15% within 12 months [16][20] Core Views - The company's revenue in 2023 reached 493 million yuan, a year-on-year increase of 27.5%, with net profit attributable to the parent company reaching 94 million yuan, a year-on-year increase of 33.5% [8] - The company's overseas business achieved revenue of 180 million yuan in 2023, accounting for 36.20% of total revenue, with a year-on-year growth of 26.49% [8] - The company's R&D investment in 2023 was 61.9861 million yuan, accounting for 12.56% of revenue, with a year-on-year increase of 11.72% [8] - The company has established a global sales system, with subsidiaries in the US, Canada, and Germany, and has formed a basic overseas marketing channel [8] Financial Forecasts - Revenue is expected to grow from 493 million yuan in 2023 to 1,122 million yuan in 2026, with a compound annual growth rate of 31.5% [1][8] - Net profit attributable to the parent company is expected to grow from 94 million yuan in 2023 to 273 million yuan in 2026, with a compound annual growth rate of 42.5% [1][8] - EPS is expected to increase from 1.28 yuan in 2023 to 3.71 yuan in 2026 [1][8] - The PE ratio is expected to decrease from 25x in 2023 to 9x in 2026, while the PB ratio is expected to decrease from 2.6x in 2023 to 1.6x in 2026 [1][8] Business Development - The company has developed new products such as vehicle gateways and Xinghan cloud management network solutions, which have entered markets in North America and Europe [8] - The company has accumulated comprehensive independent R&D experience in embedded system software, network protocol stacks, high-reliability hardware products, sensor design and application, and IoT basic cloud platform design and operation [8] - The company has formed an INOS network operating system and multiple hardware platforms and design patterns, which are reused across multiple product lines [8] Industry Outlook - The company is expected to benefit from the increasing demand for industrial IoT under the digital economy wave [8] - The company's independent innovation capabilities are expected to bring comprehensive improvements in the quality of its main business and further optimization of profitability [8]

北京映翰通网络技术股份有限公司 2023 年年度股东大会会议资料 2024 年 5 月 北京映翰通网络技术股份有限公司 2023 年年度股东大会会议资料 北京映翰通网络技术股份有限公司 2023 年年度股东大会会议资料目录 | 2023 年年度股东大会会议须知 1 | | --- | | 2023 年年度股东大会会议议程 3 | | 2023 年年度股东大会会议议案 5 | | 议案一：关于公司《2023 年年度报告》及其摘要的议案 5 | | 议案二：关于公司《2023 年度董事会工作报告》的议案 6 | | 议案三：关于公司《独立董事 2023 年度述职报告》的议案 13 | | 议案四：关于公司《2023 年度监事会工作报告》的议案 14 | | 议案五：关于 2023 年度利润分配方案的议案 19 | | 议案六：关于公司 2023 年度财务决算报告的议案 20 | | 议案七：关于公司 2024 年度财务预算报告的议案 28 | | 议案八：关于公司董事 2024 年度薪酬方案的议案 31 | | 议案九：关于公司监事 2024 年度薪酬方案的议案 33 | | 议案十：关于公司《2023 年度募集 ...

经中国证券监督管理委员会《关于同意北京映翰通网络技术股份有限公司首 次公开发行股票注册的批复》（证监许可[2020]30 号）核准，同意公司首次公开 发行股票的注册申请，公司首次向社会公开发行人民币普通股（A 股），发行数 量 1,310.7197 万股，每股价格 27.63 元，每股面值 1.00 元。本次发行募集资金 总额为 362,151,853.11 元，扣除承销、保荐费用人民币 36,215,185.31 元，余 额为人民币 325,936,667.80 元，由主承销商光大证券股份有限公司于 2020 年 2 月 5 日汇入本公司募集资金账户。上述募集资金人民币 325,936,667.80 元，扣 除本公司自行支付的审计费、律师费、验资费、信息披露费和发行手续费等发行 费用人民币 12,216,100.00 元后，实际募集资金净额为人民币 313,720,567.80 元。 上述募集资金到位情况业经信永中和会计师事务所（特殊普通合伙）验证， 并出具了编号为 XYZH/2020JNA40011 的《验资报告》。公司依照规定对上述募集 资金进行专户存储管理，并与保荐机构、募集资金专户监管银行签订了募集 ...