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、准确性和完整性依法承担法律责任。 证券代码：688099 证券简称：晶晨股份 公告编号：2024-025 晶晨半导体（上海）股份有限公司 第三届董事会第十二次会议决议公告 经核查，公司《2024 年半年度募集资金存放与实际使用情况的专项报告》已 根据《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》、 《上海证券交易所科创板股票上市规则》和《晶晨半导体（上海）股份有限公司 募集资金管理制度》等规定的要求编制完毕。公司 2024 年半年度募集资金的存 放与实际使用情况与公司已披露情况一致，不存在变相改变募集资金用途和损害 股东利益的情况，不存在违规使用募集资金的情形。 具体内容详见公司在上海证券交易所网站（www.sse.com.cn）披露的《晶晨 股份 2024 年半年度募集资金存放与实际使用情况的专项报告》（公告编号： 2024-027） 晶晨半导体（上海）股份有限公司（以下简称"公司"）第三届董事会第十 二次会议于 2024 年 8 月 14 日以现场结合通讯表决的方式召开，公司以书面 ...

证券代码：688099 证券简称：晶晨股份 公告编号：2024-033 晶晨半导体（上海）股份有限公司 关于召开 2024 年第一次临时股东大会的通知 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： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2024 年第一次临时股东大会 召开日期时间：2024 年 9 月 2 日 14 点 30 分 召开地点：上海市浦东新区秀浦路 2555 号漕河泾康桥商务绿洲 E5 栋一楼会 议室 （五） 网络投票的系统、起止日期和投票时间 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 9 月 2 日 至 2024 年 9 月 2 日 股东大会召开日期：2024年9月2日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 （二） 股东大会召集人：董事会 （三） 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 （四） 现场会议召开的日期、时间和地点 采用上海证券交易所网络投票系统，通过交易系统 ...

关于变更独立董事及调整 证券代码：688099 证券简称：晶晨股份 公告编号：2024-032 董事会专门委员会委员的公告 晶晨半导体（上海）股份有限公司 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、准确性和完整性依法承担法律责任。 冯义晶先生作为公司第三届董事会独立董事候选人，为会计专业人士，具 备履行独立董事职责的任职资格及工作经验。作为公司第三届董事会独立董事 候选人，冯义晶先生已承诺尽快参加独立董事履职培训，其任职资格和独立性 已经上海证券交易所审核无异议，并提交公司 2024 年第一次临时股东大会审 议。 特此公告。 晶晨半导体（上海）股份有限公司董事会 2024 年 8 月 15 日 附件：冯义晶先生个人简历 冯义晶先生，男，1982 年生，于 2004 年 6 月获得中国南京审计大学(前称 南京审计学院)审计学士学位；于 2017 年 1 月，成为中国注册会计师协会的非 执业会员；于 2013 年 1 月，亦获接纳为特许公认会计师协会的资深会员；于 2010 年 11 月，亦获内部审计师协会(The Institute of Intern ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2] Core Views - The company has reported a significant improvement in performance, with Q2 revenue reaching a historical high for the quarter. The forecast for H1 2024 indicates an expected revenue of approximately 3.016 billion yuan, representing a year-on-year growth of about 28.32%. The net profit attributable to the parent company is projected to be around 362 million yuan, reflecting a year-on-year increase of 95.98% [5][6] - The T series products continue to show high growth rates, with a year-on-year sales revenue increase of approximately 70% in the first half of 2023. The first quarter of 2024 saw T series sales revenue more than doubling year-on-year, driven by deepening collaborations with major global television ecosystems and the introduction of new products [5] Summary by Sections Financial Performance - Q2 revenue reached approximately 1.638 billion yuan, a year-on-year increase of 24.51% and a quarter-on-quarter increase of 18.81%. The net profit for Q2 is estimated at around 234 million yuan, marking a year-on-year growth of 51.97% and a quarter-on-quarter growth of 83.82% [5] - The company expects further revenue growth in Q3 2024 and for the entire year [5] Earnings Forecast - The earnings per share (EPS) for 2024, 2025, and 2026 are projected to be 1.97 yuan, 2.55 yuan, and 3.10 yuan respectively. The price-to-earnings (PE) valuation for 2024 is estimated to be in the range of 40-50 times, corresponding to a fair value range of 78.8-98.5 yuan [6][9] Market Comparison - The company’s performance is compared to peers, with a focus on the PE ratios of comparable companies. The average PE for comparable companies is noted, indicating the company's competitive positioning in the market [8][9]

证券代码:688099 证券简称:晶晨股份 晶晨半导体(上海)股份有限公司投资者关系活动记录表 编号:2024-004 投 资√特定对象调研 □分析师会议 □媒体采访 □业绩说明会 者 关 □新闻发布会 □路演活动 系 活 □现场参观 动 类 □其他 (请文字说明其他活动内容) 别 Cephei Capital Management (Hong Kong) Limited 参 与 EASTSPRING INVESTMENTS (SINGAPORE) LIMITED Elevation Advisors Limited 单 位 Fullerton IKARIA GROUP (HK) LIMITED 名称 IVY CAPITAL LIMITED Leadhorse LyGH Capital Oberweis Asset Management (Hong Kong) Limited POWER PACIFIC INVESTMENT MANAGEMENT INC. Rockhampton Management Limited SEQUOIA CAPITAL LLP Shiva Capital Group Limite ...

今年的一季度国内的占比是在30%多海外的占比在60%多那收入里面一季度S系列占到30%多其中在30%多里面40%多是来自于国内市场50%多是来自于海外市场 T系列在一季度的收入是占到40%多这其中30%多是来自于海外市场30%多来自于国内市场60%多来自于海外市场这是T系列的我们再来看一下A系列A系列我们一季度的收入占比也是在20%出头一点 这其中也是10%出头一点是来自于国内市场80%多来自于海外市场WiFi系列一季度的收入占比占1点几同样也是90%多是来自于海外市场10%以下是来自于国内市场剩下的0点几是我们机械电子收入的占比 其实电子的这台产品线里面呢也是80%多来自于海外市场百分之十几来自于国内市场这是一季度其实一季度的这个收入占比情况当时在一季度的交流的时候应该跟大家讲过那今天之所以再讲一遍的第一个是可能他大概时间久了会 数据记忆没那么清晰了第二个也是希望通过分享一季度和二季度我们来看一下环比的产品线的占比的趋势变化以及国内外的占比的趋势变化我们刚刚讲了一季度再来讲一下二季度二季度我们国内的收入在20%多也就是一季度国内是30%多那二季度是加上到 20多相应的海外的二季度的收入占比就提升到了70%多 ...

Investment Rating - The report maintains a "Buy-A" rating for the company, indicating strong confidence in its future performance [1][3] Core Views - The company achieved a record high revenue in Q2 2024, with a year-over-year growth of 24.51% and a quarter-over-quarter growth of 18.81% [1] - The company's diversified product strategy is showing significant results, with five major product series advancing simultaneously [1] - New products, particularly the 6nm commercial chip based on ARM V9 architecture, have gained initial commercial orders, indicating strong market potential [1] - The company's automotive electronics chips are expanding from high-end to mid-to-low-end vehicle models, with mass production and commercialization achieved in 2023 [1] Financial Performance - In H1 2024, the company is expected to achieve revenue of approximately 3.016 billion yuan, a year-over-year increase of 28.32%, and net profit attributable to the parent company of approximately 362 million yuan, a year-over-year increase of 95.98% [1] - Excluding the impact of share-based payment expenses, the adjusted net profit attributable to the parent company is approximately 431 million yuan, with a year-over-year increase of 115.29% in non-GAAP net profit [1] - R&D expenses in H1 2024 amounted to approximately 674 million yuan, reflecting the company's commitment to innovation [1] Product Performance - The S-series 8K ultra-high-definition SOC chip performed exceptionally well in the first commercial batch bidding by domestic operators, supporting global mainstream video formats and 8Kp60 video decoding [1] - The T-series chips achieved a 70% year-over-year growth in sales revenue in H1 2024, with the new generation of high-end chips supporting 8K hardware decoding and 4K144Hz output [1] - The W-series Wi-Fi 6 products gained rapid market acceptance, with shipments accounting for over 8% of the company's total shipments in Q2 2024 [1] Future Outlook - The company expects further year-over-year revenue growth in Q3 2024 and the full year of 2024, driven by the recovery of the global consumer electronics market and the successful launch of new products [1] - The report forecasts revenue for 2024-2026 to be 7.020 billion yuan, 8.733 billion yuan, and 10.479 billion yuan, respectively, with year-over-year growth rates of 30.7%, 24.4%, and 20.0% [3] - Net profit attributable to the parent company is expected to grow by 65.0%, 37.4%, and 24.1% in 2024, 2025, and 2026, respectively [3] Valuation and Ratios - The company's P/E ratio is projected to be 34.8x, 25.4x, and 20.4x for 2024, 2025, and 2026, respectively, indicating a favorable valuation [4] - The ROE is expected to improve from 13.0% in 2024 to 15.9% in 2026, reflecting strong profitability [4] - The company's gross margin is forecasted to remain stable, ranging from 36.1% to 37.2% over the next three years [4]

Investment Rating - The investment rating for the company is "Accumulate" [10][11] - The target price has been adjusted to 87.30 CNY from the previous 104.17 CNY [11] Core Insights - The company's Q2 performance exceeded expectations, indicating a potential new growth phase [10] - The market bottom was identified in Q1, with demand beginning to recover in Q2 as domestic operator tenders gradually resume [11] - The company is expanding its market share overseas, supported by the launch of new products such as T/W/V series [11] Financial Performance Summary - For H1 2024, the company achieved revenue of approximately 30.16 billion CNY, a year-on-year increase of 28.32%, and a net profit of around 3.62 billion CNY, up 95.98% year-on-year [11] - Q2 2024 revenue reached 16.38 billion CNY, representing a year-on-year growth of 24.51% and a quarter-on-quarter increase of 18.81% [11] - The net profit for Q2 2024 was 2.34 billion CNY, with a year-on-year increase of 51.97% and a quarter-on-quarter increase of 83.82% [11] Product Line and Market Dynamics - The S series has shown strong performance in the first commercial batch tender for 8K chips from domestic operators [11] - The T series has seen significant growth in overseas markets, with H1 2024 revenue increasing by approximately 70% [11] - The W series has quickly gained market recognition following the launch of its first WiFi6 product, with rapid order growth [11] - The A series is benefiting from a recovery in AIoT downstream inventory replenishment, with successful commercial orders for its new generation ARM V9 architecture chips [11] Catalysts for Growth - Anticipated recovery in tenders in Q3 and continued upward demand trends are seen as key catalysts for growth [11]

2024 4 07 月 10 日 晶晨晚份 - (688099.SH 买入 (维持评级) 公司点评 单季度收入新高,新产品助力业绩高 业绩简评 7 月 10 日,公司发布 2024 年上半年业绩预告,2024 年上半年公 司实现营收 30.16 亿元左右,同比增长 28.32%左右:实现归县净 利润 3.62 亿元左右,同比增长 95.98%左右。其中第二季度实现 苍枚 16.38 亿元左右,同比增长 24.51%左右,环比增长 18.81% 左右;实现归寻净利润 2.34 亿元左右,同比增长 51.97%左右,环比 培长 83.82%左右。 经营分析 上半年公司业绩高增,我们认为主要归因于三点:①高研发投入+ 高运营效率;②新产品效量;③积极开拓新市场。 持续被高的研发投入,并提升运营效率。2024 年上半年,公司研 发人员相较去年同期增加 108 人左右,研发费用 6.74 亿元左右, 同比增长 9.8%。为了稳定员工信心,公司持续股权激励,2024 年上半年因殷杖激励确认的殷份支付费用 0.66 亿元左右。另外, 公司确定今年为运营效率候升年,聚焦产品运营的全流程、全链 条,深入挖掘效率提升的潜力,公司 ...

[Table_Main] 证券研究报告 | 公司点评 晶晨股份(688099.SH) 2024 年 07 月 11 日 买入(维持) 所属行业:电子/半导体 当前价格(元):66.77 邮箱:chenrf@tebon.com.cn 陈瑜熙 资格编号:S0120524010003 邮箱:chenyx5@tebon.com.cn 证券分析师 陈蓉芳 资格编号:S0120522060001 投资要点 市场表现 晶晨股份 沪深300 -57% -46% -34% -23% -11% 0% 11% 2023-07 2023-11 2024-03 沪深300对比 1M 2M 3M 绝对涨幅(%) 22.07 13.21 48.41 相对涨幅(%) 25.03 18.61 49.45 资料来源:德邦研究所,聚源数据 相关研究 1.《晶晨股份(688099.SH):业绩高速 增长,逆周期加大研发,扩张产品矩 阵》,2024.4.16 2.《晶晨股份(688099.SH):Q2 业绩 环比大幅提升,多产品线助力公司重 回上行通道》,2023.8.16 Q2 收入创季度新高,前期投入收获期或至 晶晨股份 2024H1 业绩预告点 ...