证券代码：688088 证券简称：虹软科技 虹软科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | |------------------------------------------|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

FANGDA PARTNERS 上海市方达律师事务所 关于 虹软科技股份有限公司 2024 年半年度差异化分红事项 之 法律意见书 2024 年 9 月 4 日 致：虹软科技股份有限公司 http://www.fangdalaw.com 中国上海市石门一路 288 号 电子邮件 E-mail: email@fangdalaw.com 兴业太古汇香港兴业中心二座 24 楼 电 话 Tel.: +86-21-2208 1166 邮政编码：200041 传 真 Fax.: +86-21-5298 5599 根据虹软科技股份有限公司(以下称"虹软科技"或"公司")的委托，上海 市方达律师事务所(以下称"本所")就虹软科技 2024 年半年度利润分配所涉及的 差异化分红(以下称"本次差异化分红")相关事项出具本法律意见。 24/F, HKRI Centre Two HKRI Taikoo Hui 288 Shi Men Yi Road Shanghai, PRC 200041 本法律意见书依据《中华人民共和国公司法》《中华人民共和国证券法》《上 海证券交易所上市公司自律监管指引第 7 号——回购股份》及其他相关中华人民 ...

证券代码：688088 证券简称：虹软科技 公告编号：临 2024-046 虹软科技股份有限公司 2024 年半年度权益分派实施公告 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： 每股现金红利 0.15 元（含税） 相关日期 | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2024/9/24 | 2024/9/25 | 2024/9/25 | 一、通过分配方案的股东大会届次和日期 本次利润分配方案经公司 2024 年 5 月 10 日的 2023 年年度股东大会授权公司 董事会制定实施，并经公司 2024 年 8 月 26 日的第二届董事会第十七次会议审议 通过，具体情况如下： 2024 年 5 月 10 日，公司召开 2023 年年度股东大会，审议通过了《关于提请 股东大会授权董事会决定 2024 年中期利润分配的议案》，在当期盈利、累计未分 配利润为正、现金流可以满足正常经营和持续发展的需求的条件下，进行 2024 年 中期现金分红，中期现金分红金额 ...

证券代码：688088 证券简称：虹软科技 公告编号：临 2024-045 虹软科技股份有限公司 关于参加 2024 年半年度软件及人工智能专场集体 业绩说明会的公告 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、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2024 年 9 月 13 日（星期五）14:00-16:00 会议召开方式：网络文字互动 网 络 文 字 互 动 平 台 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （https://roadshow.sseinfo.com/） 虹软科技股份有限公司（以下简称公司）已于 2024 年 8 月 27 日发布公司 《2024 年半年度报告》，为便于广大投资者更全面深入地了解公司 2024 年半年 度经营成果、财务状况、发展理念，公司参与了由上海证券交易所主办的 2024 年半年度软件及人工智能专场集体业绩说明会，此次活动将采取网络文字互动的 方 式 举 行 ， 投 资 者 可 登 录 上 海 证 券 交 易 所 上 证 路 演 中 心 （http://roadshow.sse ...

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 31.37 CNY per share, maintaining the rating [4]. Core Views - The company's revenue for the first half of 2024 reached 381 million CNY, a year-on-year increase of 11.97%, while the net profit attributable to shareholders was 61.45 million CNY, up 22.82% year-on-year [1][2]. - The smart driving and IoT device business saw significant growth, with revenue increasing by 93.19% to 43 million CNY, driven by the increase in the number of smart car projects and product deliveries [2]. - The gross margin remained high at 90.35%, attributed to the successful transition of the smart driving business [2]. Business Segments Summary Smart Phone Visual Business - Revenue from the smartphone visual business was 332 million CNY, a growth of 6.43% year-on-year, due to the accelerated promotion of Turbo Fusion technology and its application in more high-end models [2]. Smart Driving and IoT Devices - The smart driving and IoT devices segment achieved revenue of 43 million CNY, marking a 93.19% increase year-on-year, primarily due to the increase in designated projects and product deliveries [2]. Smart Commercial Photography - The company launched the PhotoStudio® AI smart commercial photography cloud studio, which significantly reduced product shooting costs for merchants. The product has made notable progress in both product features and channel partnerships [3]. - The AI model video generation feature was introduced, allowing users to create realistic videos from a single photo, enhancing the product's market competitiveness [3]. Customer Expansion and Product Delivery - The company has successfully established multiple front-end mass production projects with various car manufacturers, including Changan New Energy and Geely, among others [8]. - The company’s algorithms for in-cabin and out-of-cabin applications have seen increased adoption, with several products achieving mass production [8]. Financial Projections - Revenue projections for 2024, 2025, and 2026 are estimated at 839 million CNY, 1.03 billion CNY, and 1.28 billion CNY respectively, with net profits expected to be 145 million CNY, 203 million CNY, and 288 million CNY [9][10].

Investment Rating - The report maintains a "Recommended" rating for the company [3][6]. Core Insights - The company reported a revenue of 381 million yuan in the first half of 2024, representing an increase of 11.97% year-on-year, with a net profit attributable to shareholders of 61 million yuan, up 22.82% [3]. - The smart driving business has shown significant growth, with overseas revenue continuing to grow rapidly, achieving 178 million yuan, an increase of 18.97% [3]. - The gross margin for the smart driving business improved significantly, reaching 87.28%, an increase of 7.31 percentage points compared to the same period last year [3]. Financial Performance Summary - In the first half of 2024, the company's main business gross margin was 91.06%, remaining stable compared to the previous year [3]. - The company increased its R&D investment to 194 million yuan, accounting for 50.93% of revenue, reflecting a further increase compared to last year [3]. - The company expects to achieve revenues of 832 million yuan, 1.003 billion yuan, and 1.173 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 24.20%, 20.44%, and 17.03% [6]. Business Segment Performance - The revenue from the smartphone visual solutions business was 332 million yuan, up 6.43%, while the revenue from smart driving and other IoT visual solutions surged to 43 million yuan, an increase of 93.19% [3]. - The company is accelerating the promotion of its smart super-domain fusion technology and products, expanding its applications in high-end models and gradually penetrating mainstream market models [3]. - The company has made significant advancements in its health monitoring algorithm engine, achieving theoretical breakthroughs and securing multiple mass production projects [3].

虹软科技股份有限公司 投资者关系活动记录表 编号：2024-007 | --- | --- | --- | |---------------------------------|--------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | R | 特定对象调研 □分析师会议 | | 投 资 者 | □ 媒体采访 | R 业绩说明会 | | 关 系 活 | □ 新闻发布会 □路演活动 | | | 动类别 | □ | 现场参观 £一对一沟通 | | | R 其他 券商组织的交流会 | | | 参 与 单 位 名 称 及 ...

计算机 证 券 研 究 报 告 上 市 公 司 2024 年 08 月 28 日 虹软科技 (688088) ——业绩符合预期，智能驾驶增长突出！ | --- | --- | |------------------------------------|-------------------------------| | 市场数据： | 2024 年 08 月 27 日 | | 收盘价（元） | 23.78 | | 一年内最高/最低（元） | 44.50/21.00 | | 市净率 | 3.6 | | 息率（分红 / 股价） | 0.93 | | 流通 A 股市值（百万元） | 9,540 | | 上证指数 / 深证成指 | 2,848.73/8,103.76 | | 注："息率"以最近一年已公布分红计算 | | | --- | --- | |------------------------------|------------------------| | | | | 基础数据 : | 年 06 月 30 日 | | | | | | 6.61 | | 每股净资产（元） | | | 资产负债率 % | 10.7 ...

Investment Rating - The investment rating for the company is "Buy" [5] Core Views - The report highlights stable revenue growth in the first half of the year, with a high dividend payout ratio of 97.8%. The company achieved a revenue of 380 million yuan, a year-on-year increase of 12%, with mobile smart terminals and intelligent driving contributing 330 million yuan and 43 million yuan respectively, growing by 6.4% and 93% [10] - The company is accelerating the promotion of technology and models in its mobile business, while also increasing R&D and targeted collaborations in its intelligent driving segment. The AIGC commercial photography business is rapidly implementing a new business model [3][10] Summary by Sections Financial Performance - The company reported a net profit of 61 million yuan in the first half of 2024, a 23% increase year-on-year, with the second quarter net profit reaching 27 million yuan, up 25% [10] - The operating cash flow for the first half of 2024 was -65 million yuan, a negative shift due to some customers prepaying sales from the previous year [10] - The company plans to maintain its target price at 37.82 yuan and forecasts EPS for 2024-2026 to be 0.36, 0.48, and 0.60 yuan respectively [10] Business Segments - In the mobile smart terminal segment, the company is promoting its Turbo Fusion technology across more high-end models and optimizing its engine for mid- to low-end models. The technology has also been extended to video applications, gaining recognition from several key clients [10] - The intelligent driving business is expected to see rapid revenue growth from previously targeted models, with plans to expand the range of models covered in the second half of the year. The company is also advancing its 3D AVM and monitoring algorithms, which have been adopted by new production models [10] R&D and Innovation - R&D expenses for the first half of 2024 were 194 million yuan, an 18% increase year-on-year, with an R&D expense ratio of 50.9%, reflecting continued investment in the automotive business [10] - The company launched its PSAI video generation feature three months ago, becoming a leader in the domestic commercial photography sector, and plans to expand its presence on international e-commerce platforms [10]

证券研究报告 虹软科技 (688088 CH) 业绩稳健增长，智能驾驶持续高增 华泰研究 中报点评 2024 年 8 月 27 日│中国内地 计算机应用 风险提示：智能终端销量及智能汽车量产不及预期；AIGC 等推进不及预期。 SFC No. BQZ938 +(86) 21 2987 2036 虹软 24H1 营收 yoy+11.97%，归母净利润 yoy+22.82% 公司 24H1 营收 3.81 亿，yoy+11.97%；归母净利润 6145.89 万， yoy+22.82%；扣非净利润 5379.43 万，yoy+21.70%；经营性净现金流 -6484.63 万，yoy-130.82%。鉴于智能驾驶业务高速增长，我们上调 24-26 年 EPS 至 0.34/0.49/0.66 元(前值 0.32/0.42/0.57 元)。鉴于智能驾驶业务 24 年尚未放量，采用 25 年估值，可比公司 25 年均值 PE 74 倍（Wind）， 鉴于公司在智能驾驶、商拍等领域均处于领先地位，给予公司 25 年目标 PE 80 倍，对应目标价 38.92 元（前值 33.6 元），维持买入评级。 24H1：智能终端 ...