证券代码： 688107 证券简称：安路科技 上海安路信息科技股份有限公司 投资者关系活动记录表 编号：2024-003 | --- | --- | --- | |------------|--------------------------------|--------------------------------| | | □ | 特定对象调研 □分析师会议 | | 投资者关系 | □媒体采访 √业绩说明会 | | | 活动类别 | □ 新闻发布会 □路演活动 | | | | □现场参观 | □ 电话会议 | | | □ | 其他（请文字说明其他活动内容） | | 参与单位 | 参与本次业绩说明会的线上投资者 | | | 名称 | | | | 时间 | 2024 年 11 月 13 | 日下午 15:00-16:30 | | 地点 | 上海证券交易所上证路演中心 | | | | （ | http://roadshow.sseinfo.com ） | | 上市公司参 | 董事、总经理：文华武 | | | 加人员姓名 | 副总经理、财务总监：郑成 | | | | 董事会秘书：吴浩然 | | | | 独立董事 ...

上海安路信息科技股份有限公司 2024 年第三季度报告 单位：元 币种：人民币 1 / 13 证券代码：688107 证券简称：安路科技 上海安路信息科技股份有限公司 2024 年第三季度报告 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、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 （一） 主要会计数据和财务指标 | --- | --- | --- | --- | --- | |------------------------------------------------|----------------|---------------------------------------|-----------------|------- ...

证券代码： 688107 证券简称：安路科技 上海安路信息科技股份有限公司 投资者关系活动记录表 编号：2024-002 | --- | --- | --- | |----------------|--------------------------------|---------------------------------------------------------------------| | | | | | | □ | 特定对象调研 □分析师会议 | | 投资者关系活动 | □媒体采访 √业绩说明会 | | | 类别 | □ 新闻发布会 □路演活动 | | | | □现场参观 | □ 电话会议 | | | □ | 其他（请文字说明其他活动内容） | | 参与单位名称 | 参与本次业绩说明会的线上投资者 | | | 时间 | 2024 年 9 月 11 | 日下午 14:00-16:00 | | 地点 | 上海证券交易所上证路演中心 | | | | （ | http://roadshow.sseinfo.com ） | | 上市公司参加人 | 董事、总经理：文华武 | | | 员姓名 | 副总经理 ...

安路科技（688107.SH）2024 年半年报点评 [盈利预测与财务指标 Table_Forcast] 业绩持续承压，静待行业复苏 2024 年 09 月 02 日 ➢ 事件：安路科技 8 月 28 日晚发布 2024 年半年度报告，公司 2024 年上半 年实现收入 3.17 亿元（YoY-21.48%），实现归母净利润-1.22 亿元，实现扣非 归母净利润-1.47 亿元。对应 2024 年 Q2 单季度，公司实现收入 1.75 亿元（YoY19.06%，QoQ+23.58%），实现归母净利润-0.66 亿元，扣非归母净利润-0.78 亿元。 ➢ 盈利持续承压，库存管控成效显著。2024 年上半年，由于部分终端行业客 户去库存周期尚未结束，下游市场各行业需求复苏进程不一，公司营业收入同比 有所下滑，盈利能力持续承压。2024 年上半年，公司销售毛利率 33.21%，同比 下滑 3.28pct；其中 2Q24 毛利率 28.90%，同比下降 6.88pct，环比下降 9.63pct， 承压明显。但 2024 年上半年公司持续深化库存管控工作，进一步优化库存结构， 提升库存周转率，库存管理工作已经初见成效， ...

[Table_Main] 证券研究报告 | 公司点评 安路科技(688107.SH) 2024 年 09 月 02 日 | --- | --- | |-------------------------------------------------------|-----------------------------------| | 买入（维持） | 安路科技（ 688107.SH ）：终端需求 | | 疲软 所属行业：电子 / 半导体 当前价格 ( 元 ) ： 19.87 | 24Q2 业绩承压，库存持续改 | | 证券分析师 | 善静待春来 | | 陈蓉芳 | | | 资格编号： S0120522060001 | 2024 年中期报告点评 | 邮箱：chenrf＠tebon.com.cn 研究助理 投资要点 市场表现 -60% -40% -20% 0% 20% 安路科技 沪深300 | --- | --- | --- | --- | |-----------------------------------------------|----------------|--------------|---- ...

本报告仅供 Choice 东方财富 使用，请勿传阅。 2024 年 09 月 02 日 安路科技(688107.SH) Q2 营收环比增长，经营有望持续向好 事件： 公司发布 2024 年半年度报告，2024 年上半年营收为 3.17 亿元， 同比下降 21.48%；归母净利润-1.22 亿元;归母扣非净利润-1.46 亿元。其中，一季度营收 1.42 亿元，二季度营收 1.75 亿元。 Q2 营收环比增长，芯片出货量同比实现增长 根据报告内容，公司营收同比下降主要原因系部分终端行业客户 去库存周期尚未结束，工业、通信、消费电子等下游市场各行业 需求复苏进程不一等因素影响，但市场需求仍在恢复中。与此同 时，1）芯片出货量同比实现增长，部分行业终端客户去库存已接 近尾声且需求复苏迹象明显。2）公司进行库存管控、加大市场开 拓力度，压降成效显著，存货由本报告期初 7.63 亿元降至期末 6.07 亿元，下降 20.49%，库存周转逐步优化。我们认为，后续经 营有望持续向好，随着下游库存改善、新品导入、新市场开拓及 库存管控等措施见效，公司营收有望逐步回升。 持续保持高强度研发投入，多款新品进展顺利 上半年公司实现 ...

公司代码：688107 公司简称：安路科技 2024 年半年度报告 上海安路信息科技股份有限公司 2024 年半年度报告 1 / 172 2024 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 报告期内，公司部分终端行业客户去库存周期尚未结束，下游市场各行业需求复苏进程不一， 公司连续两个季度营业收入环比持续改善，但与去年同期相比，公司业绩亏损仍有所增加。公司 核心竞争力、持续经营能力未发生重大变化。由于公司目前依然保持较大的研发投入，未来若出 现下游市场复苏不及预期、行业竞争加剧、产品更新迭代放缓等情形，公司可能面临继续亏损的 风险。 公司已在本报告中描述了可能存在的风险，详细内容敬请查阅"第三节管理层讨论与分析" 之"风险因素"部分，请投资者注意投资风险。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人许海东、主管会计工作负责人郑成及会计机构负责人（会计主管人员）李高扬声 明：保证半年度报告中财务报告的真实、 ...

| --- | --- | --- | |-----------------------------------------|------------------------------------|-----------------------------| | | | | | 编制单位 : 上海安路信息科技股份有限公司 | 单位：元 币种 | :人民币 审计类型：未经审计 | | 项目 | 2024 年 3 月 31 日 2023 | 年 12 月 31 日 | | 流动资产： | | | | 货币资金 | 256,401,592.56 | 290,455,111.85 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 312,283,890.65 | 366,582,313.70 | | 衍生金融资产 | | | | --- | --- | --- | |-----------------------------------------------------|-------------------------------------------------------- ...

Financial Performance - The company reported a net loss of -197,187,674.35 RMB for the year, compared to a net profit of 59,827,952.76 RMB in the previous year[12] - Revenue for the reporting period was 700.79 million yuan, a decrease of 32.75% year-over-year[118] - Net profit attributable to shareholders was -197.19 million yuan, a decrease of 429.59% year-over-year[118] - Revenue for the reporting period was 701 million yuan, a year-on-year decrease of 32.75%, primarily due to reduced product shipments influenced by terminal market demand cycles and downstream industry inventory clearance[127] - Q1 revenue was 187.53 million yuan, Q2 revenue was 216.78 million yuan, Q3 revenue was 188.47 million yuan, and Q4 revenue was 108.00 million yuan[129] - Net profit attributable to shareholders was -51.01 million yuan in Q1, -29.32 million yuan in Q2, -57.49 million yuan in Q3, and -59.36 million yuan in Q4[129] - Non-recurring gains and losses for 2023 amounted to 29.48 million yuan, including government subsidies of 17.25 million yuan and gains from financial assets of 3.29 million yuan[129][130] - The balance of trading financial assets decreased by 213.68 million yuan from the beginning to the end of the period, impacting current profits by 11.65 million yuan[131] - The company's total assets decreased by 13.11% to 1,629,923,683.58 RMB in 2023 compared to 2022[148] - The net assets attributable to shareholders of the listed company decreased by 9.96% to 1,445,266,110.49 RMB in 2023 compared to 2022[148] - The company's operating cash flow was -193,347,034.25 RMB in 2023, an improvement from -282,275,926.40 RMB in 2022[148] Cash Flow and Investments - Investment activities resulted in a net cash outflow of 169,837,385.09 RMB, a significant improvement from the previous year's net outflow of -580,924,711.00 RMB[14] - The company's cash and cash equivalents increased by 28,364,416.00 RMB, ending the year with a balance of 290,455,111.85 RMB[14] Corporate Governance and Leadership - The company completed the election of a new board of directors and board of supervisors in January 2024, following the expiration of the previous terms at the end of 2023[17] - The company's management team remains stable and has been diligent in implementing board resolutions, with no reported violations of regulations[16] - The company's board of directors includes Chairman Xu Haidong, aged 53, and General Manager Wen Huawu, aged 37, with their terms starting from January 18, 2024[61] - The company appointed new senior management personnel, including a general manager, several vice general managers, a financial director, and a board secretary[66] - The company held an employee representative meeting on January 2, 2024, electing Mr. Yang Yang as the employee representative supervisor for the second board of supervisors[81] - The company held its first temporary shareholders' meeting of 2024 on January 18, electing Mr. Zhou Reqing and Mr. Ma Liang as shareholder representative supervisors for the second board of supervisors[81] - The company's board of directors held multiple meetings in 2023, with all proposals being approved without any rejections[68] - The company's board of directors held 5 meetings in 2023, with 4 of them being a combination of on-site and teleconference meetings[87] - The company's board of directors had no instances of directors missing two consecutive meetings in 2023[87] - The company's board of directors had no instances of directors being absent from meetings in 2023[87] - The company's board of directors had no instances of directors delegating attendance to others in 2023[87] Equity and Shareholder Information - The company's total owner's equity at the end of the period is 1,605,115,307.18, with a capital reserve of 1,218,414,643.65 and a retained earnings deficit of -13,622,364.64[34] - The company's comprehensive income for the period is 62,764,814.35, contributing to a total increase in owner's equity of 99,160,820.56[36] - The company's owner's equity at the beginning of the year was RMB 1,615,314,292.69, with a decrease of RMB 170,527,410.11 during the year, primarily due to a comprehensive loss of RMB 207,861,539.75[55] - The company's owner's equity includes paid-in capital of RMB 400,100,000.00 and capital reserve of RMB 1,218,414,643.65[55] - The company's owner's equity changes include an increase of RMB 749,367.00 from owner's investment and RMB 36,584,762.64 from capital reserve[55] - The company's share-based payments amounted to RMB 36,396,006.21, which was included in the owner's equity[53] - The company's share-based payments included RMB 20,645,726.55 from equity-settled share-based payments[55] - The company implemented a 2022 restricted stock incentive plan, with 3,200,000 shares initially granted and 800,000 shares reserved. During the reporting period, 749,550 shares were eligible for vesting, and 749,367 shares were actually vested[73] - 11 employees who left the company forfeited 201,800 shares of restricted stock, reducing the total initially granted shares from 3,200,000 to 2,998,200[74] - The company's 2022 restricted stock incentive plan granted 3.2 million shares initially, accounting for 0.80% of the company's total share capital at the time of the plan announcement, and 80% of the total planned grant[93] - The 2022 restricted stock incentive plan also reserved 800,000 shares, accounting for 0.20% of the company's total share capital at the time of the plan announcement, and 20% of the total planned grant[93] - The company's 2022 restricted stock incentive plan involved 215 incentive recipients, representing 52.70% of the total incentive recipients, with a grant price of RMB 22.27 per share[93] Financial Statements and Accounting Policies - The company's financial statements are prepared in accordance with the Enterprise Accounting Standards issued by the Ministry of Finance and other relevant regulations[48] - The company's financial assets are classified into three categories: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[24] - The company's financial liabilities are initially classified as either fair value through profit or loss or amortized cost[31] - The company's financial statements reflect the consolidation of subsidiaries, with internal transactions and impacts being offset[22] - The company's financial statements are based on the assumption of going concern[28] - The company's financial statements were approved by the board of directors on April 25, 2024[27] - The company's financial statements include the operating results and cash flows of subsidiaries added during the reporting period due to business combinations under common control[43] - The company's financial statements reflect adjustments for the purchase of minority interests in subsidiaries, with differences between the purchase price and the corresponding share of net assets adjusted in the capital reserve[44] - The company's financial assets are classified into three categories at initial recognition: financial assets measured at amortized cost, financial assets measured at fair value with changes recognized in other comprehensive income, and financial assets measured at fair value with changes recognized in profit or loss[50] - The company's business model involves both collecting contractual cash flows and selling financial assets, with the option to irrevocably designate non-trading equity investments as financial assets measured at fair value with changes recognized in other comprehensive income[51] - The company's financial statements are signed by the company's responsible person, the person in charge of accounting work, and the person in charge of the accounting institution[58] - The company's accounting policies and estimates are disclosed in the notes to the financial statements, specifically in note "34. Revenue"[59] Employee Information and Compensation - The company has a total of 534 employees, with 411 in the parent company and 123 in major subsidiaries. The workforce includes 444 technicians, 28 sales personnel, 6 financial personnel, and 56 administrative personnel[70] - The educational background of employees includes 14 with a Ph.D., 297 with a master's degree, 213 with a bachelor's degree, and 10 with an associate degree[70] - The company provides competitive compensation and benefits, including salary, bonuses, social insurance, housing provident fund, health check-ups, and supplementary commercial medical insurance[70] - The company has a comprehensive training system, including external and internal training, with evaluations conducted through exams, feedback, and performance assessments[76] - Total number of employees increased by 30.88% to 534, with R&D personnel increasing by 35.37% to 444[98] - R&D team consists of 11 PhDs, 272 master's degree holders, and 156 bachelor's degree holders, with 214 members under 30 years old[200] Research and Development - R&D expenses increased by 15.82% year-over-year to 384.16 million yuan, accounting for 54.82% of revenue[95][96] - The company applied for 90 new intellectual property rights, a year-over-year increase of 69.81%, including 50 invention patents[96] - The company completed the development of large-scale FPGA chips and specialized software based on advanced processes[96] - The company accumulated 353 intellectual property applications, including 193 invention patent applications and 80 authorized invention patents[96] - The company implemented multi-dimensional incentive policies, including intellectual property and technological innovation incentives, to enhance employee stability and motivation[99] - Total R&D investment increased by 15.82% to RMB 384.16 million, accounting for 54.82% of total revenue, up 22.99 percentage points year-over-year[197] - FPGA chip R&D project completed with a total investment of RMB 89.07 million, achieving mass production of over 10 new specifications and advancing 28nm process platform[198] - FPSoC chip R&D project completed with a total investment of RMB 30.65 million, targeting applications in video processing and industrial control[198] Market and Industry Trends - The global integrated circuit industry sales revenue in 2023 was 422.174 billion USD, a decrease of 11% year-on-year[151] - The global integrated circuit market is predicted to grow strongly in 2024, with sales revenue reaching 487.454 billion USD, a year-on-year increase of 15.5%[151] - The China FPGA market is projected to reach approximately $4.5 billion by 2028, with a compound annual growth rate (CAGR) of 18% from 2022 to 2028, driven by demand recovery and emerging applications[169] - FPGA chips are increasingly moving towards advanced manufacturing processes and packaging technologies, with Chiplet technology being a long-term trend for high-density FPGA products[173] Product Development and Innovation - The company expanded its market presence in industrial control, network communication, video image processing, automotive electronics, data centers, consumer electronics, medical devices, and new energy sectors[97] - The company achieved breakthroughs in automotive electronics, with new automotive-grade chips being adopted and mass-produced by key automotive industry customers[97] - The company's ELF4 series FPGA supports up to 279 user IOs and meets the AEC-Q100 (Grade 2) standard for automotive electronics[145] - The company's EAGLE4 series FPGA features an IO rate of up to 1Gbps, suitable for image preprocessing and servo control[145] - The company's PHOENIX series FPGA supports over 30K equivalent logic units and DDR3/4 interfaces for industrial control and network communication[150] - The company's SWIFT1 series FPSoC provides up to 17.6Gbps MIPI data transceiver capability for video data processing[150] - The company's DRAGON1 series FPSoC integrates FPGA logic units, hard-core processor systems, and computing acceleration engines for machine vision and industrial control[150] - The company launched over 10 new product models across the SALELF, SALPHOENIX, and SALDRAGON series, achieving milestone progress with key clients and expected to bring significant economic returns[167] - The company's FPGA products are widely used in industrial control, network communication, video processing, automotive electronics, consumer electronics, data centers, medical devices, and new energy sectors, with expanding application scenarios[166] - The company's proprietary EDA software system, featuring HDL2BIT full-process technology, supports a wide range of FPGA and FPSoC chip products, addressing key technical challenges in logic synthesis, physical layout, timing analysis, and debugging[163] - The company has developed a full-process FPGA-specific EDA software, TangDynasty, and an integrated development environment for FPSoC chips, FutureDynasty[182] - The company has made breakthroughs in logic units, signal interconnects, clock networks, and high-speed interfaces, enhancing the market competitiveness of its FPGA chips[189] - The company has developed over 100 innovative application IPs and reference designs for various scenarios, including industrial control, network communication, and information security[193] - The company applied for 90 new intellectual property rights in 2023, a 69.81% year-on-year increase, including 50 invention patents, a 35.14% increase[195] - As of December 31, 2023, the company has accumulated 353 intellectual property applications, including 193 invention patents, and 217 authorized intellectual properties, including 80 invention patents[195] Corporate Strategy and Expansion - The company established a wholly-owned subsidiary in Chengdu, setting up an FPGA R&D and technical support center in the Southwest region, optimizing industrial layout and enhancing market service capabilities[175] - The company deepened its quality control system, implementing a full-process quality management approach from product development to lifecycle stages, enhancing product quality and market competitiveness[164] - The company is a leading domestic FPGA chip design enterprise, with a comprehensive product layout and rich customer resources[180] - The company received multiple national and regional honors, including the "Little Giant" award, postdoctoral research workstation, and Shanghai Innovation Enterprise Headquarters designation, reflecting its strong R&D and industrial capabilities[158] Shareholder Rights and Dividend Policy - The company has a well-defined dividend policy, with clear standards and procedures, and ensures the protection of minority shareholders' rights[71] - The company has no record of penalties from securities regulatory authorities in the past three years[68] - The company has the ability to continue operations for at least 12 months from the end of the reporting period, with no significant events affecting its ability to continue operations[77] FPGA and FPSoC Technology - The company's FPGA and FPSoC chips require a balance of hardware expertise and software development knowledge, with long R&D cycles and high market insight demands[171] - The company's FPGA products are highly flexible, allowing users to reprogram chip functions post-manufacturing, making them suitable for industries with rapidly evolving standards and protocols[153]

证券代码： 688107 证券简称：安路科技 上海安路信息科技股份有限公司 投资者关系活动记录表 编号：2023-003 □特定对象调研 □分析师会议 投资者关系活动 □媒体采访 √业绩说明会 类别 □新闻发布会 □路演活动 □现场参观 □电话会议 □其他（请文字说明其他活动内容） 参与单位名称 参与本次业绩说明会的线上投资者 时间 2023年11月20日下午15:00-16:00 地点 上海证券交易所上证路演中心 （http://roadshow.sseinfo.com） 上市公司参加人 董事、总经理：陈利光 ...