Investment Rating - The report suggests a positive outlook for the company, indicating a recommendation to actively monitor the stock due to its strong growth potential and market position [1][6]. Core Views - The company has reported significant growth in revenue and net profit for the first half of 2024, driven by increased demand for OLED materials and a rise in market penetration [1][5]. - The company is expected to benefit from the growing OLED market, particularly as domestic manufacturers increase their production capabilities and market share [1][4]. - The company has initiated a share buyback program to incentivize employee ownership and align interests, indicating confidence in its long-term growth [1][5]. Summary by Relevant Sections Financial Performance - In the first half of 2024, the company achieved revenue of 246 million yuan, a year-on-year increase of 73.7%, and a net profit of 92 million yuan, up 111.4% [1][5]. - For Q2 2024, revenue reached 130 million yuan, reflecting an 85.3% increase year-on-year, with net profit growing by 142.2% to 50 million yuan [1][5]. Market Position - The company is positioned as a leading supplier in the OLED materials market, benefiting from the increasing demand for OLED displays in consumer electronics [1][4]. - According to CINNO Research, the company's market is bolstered by the fact that China's OLED smartphone shipments surpassed those of South Korea in early 2024, capturing a market share of 53.4% [1][4]. Future Outlook - The company forecasts revenue growth for 2024-2026, with expected revenues of 500 million yuan (+65.21%), 610 million yuan (+23.52%), and 760 million yuan (+23.47%) respectively [2][5]. - Net profit projections for the same period are 190 million yuan (+153.03%), 236 million yuan (+21.13%), and 290 million yuan (+22.23%) [2][5]. R&D and Product Development - The company invested 29.99 million yuan in R&D in the first half of 2024, a 21.15% increase year-on-year, focusing on the development of new OLED materials [1][4]. - The company has successfully launched new products and is actively expanding its customer base, aiming for comprehensive coverage of domestic OLED panel manufacturers [1][4].

证券简称：莱特光电 证券代码：688150 陕西莱特光电材料股份有限公司 投资者关系活动记录表 编号：2024-015 R 特定对象调研 ☐分析师会议 ☐媒体采访 投资者关 系活动类 ☐业绩说明会 ☐新闻发布会 ☐路演活动 别 R 现场参观 R 电话会议 ☐其他 参与单位 详见附件参会名单 名称及人 员姓名 会议时间 2024 年 8 月 20 日至 2024 年 8 月 22 日 会议地点 陕西莱特光电材料股份有限公司会议室/线上 上市公司 董事会秘书：潘香婷 投资者关系专员：张尊睿 接待人员 姓名 一、最新经营情况介绍 投资者关 2024 年上半年，消费电子需求回暖，OLED 凭借卓越的性能优势在下游各终端应 系活动主 用领域加速渗透，OLED 面板需求持续提升。与此同时，OLED 面板行业格局持续优 要内容介 化，国内面板厂商在全球 OLED 智能手机市场中的地位和竞争力不断提升，出货量跃 居全球第一。国内面板厂商在保持 6 代线的技术、产能优势外，加大对高世代 OLED 绍 产线的投资，京东方、维信诺先后宣布投资建设 8.6 代高世代 OLED 产线，国内 OLED 面板产能不断抬升，OLED 有机材 ...

伐谋-中小盘信息更新 中 小 盘 研 究 莱特光电（688150.SH） 2024 年 08 月 22 日 下游复苏叠加渗透率提升，2024H1 业绩高速增长 ——中小盘信息更新 投资评级：买入（维持） | --- | --- | |-------------------------|-------------| | 日期 | 2024/8/21 | | 当前股价 ( 元 ) | 15.86 | | 一年最高最低 ( 元 ) | 25.17/13.62 | | 总市值 ( 亿元 ) | 63.83 | | 流通市值 ( 亿元 ) | 28.36 | | 总股本 ( 亿股 ) | 4.02 | | 流通股本 ( 亿股 ) | 1.79 | | 近 3 个月换手率 (%) | 127.3 | | --- | --- | |---------------------------|---------------------------| | | | | 任浪（分析师） | 周佳（分析师） | | renlang@kysec.cn | zhoujia@kysec.cn | | 证书编号： S0790519100001 ...

Investment Rating - The report maintains an "Accumulate-A" rating for the company [3] Core Views - The company's performance is supported by the continuous increase in OLED penetration and the diversification of its product offerings, which are expected to drive long-term growth [1] - The company has successfully entered the supply chains of several well-known domestic panel manufacturers, which is anticipated to enhance its market share and maintain its leading position in the domestic market [1] - The significant improvement in profitability is driven by increased demand and the release of new products, with a notable rise in revenue and net profit for the first half of 2024 [2][3] Financial Performance Summary - In the first half of 2024, the company achieved revenue of 246 million yuan, a year-on-year increase of 73.65%, and a net profit of 92 million yuan, up 111.43% [2] - The second quarter of 2024 saw revenue of 131 million yuan, reflecting an 85.28% year-on-year growth and a 15.24% quarter-on-quarter increase, with a net profit of 49 million yuan, marking a 142.16% year-on-year increase [2] - The gross margin for the first half of 2024 was 66.20%, an increase of 1.33 percentage points year-on-year, attributed to new product price increases and scale effects [2] - The net profit margin for the first half of 2024 was 37.67%, up 6.73 percentage points year-on-year, driven by improved gross margins and cost reduction measures [2] Earnings Forecast - The expected earnings per share (EPS) for 2024, 2025, and 2026 are projected to be 0.50 yuan, 0.81 yuan, and 1.21 yuan, respectively [3] - The price-to-earnings (P/E) ratios for 2024, 2025, and 2026 are estimated at 31.7, 19.5, and 13.1, respectively [3]

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase of over 15% in stock price compared to the benchmark index within the next 6 to 12 months [9]. Core Views - The company is expected to benefit significantly from the increasing penetration of OLED technology, with a projected net profit of 2.05 billion yuan in 2024, 3.31 billion yuan in 2025, and 5.28 billion yuan in 2026 [1][4]. - The report highlights a strong revenue growth of 73.65% year-on-year in the first half of 2024, driven by a recovery in consumer electronics demand and an increase in OLED penetration [1][2]. Summary by Sections Financial Performance - Revenue for 2022 was 280 million yuan, with a projected increase to 610 million yuan in 2024 and 1.655 billion yuan in 2026, reflecting a compound annual growth rate (CAGR) of 58% from 2024 to 2026 [1]. - Net profit decreased from 105 million yuan in 2022 to 77 million yuan in 2023, but is expected to rebound to 205 million yuan in 2024 and reach 575 million yuan by 2026 [1]. - The company's earnings per share (EPS) is projected to grow from 0.19 yuan in 2023 to 1.43 yuan in 2026 [1]. Market Position and Trends - The report notes that the company has established a strong market presence by entering the supply chains of major domestic panel manufacturers such as BOE and Huaxing [1]. - The ongoing trend of increasing OLED penetration across various downstream sectors is expected to drive further growth for the company [1][2]. Research and Development - The company invested 30 million yuan in R&D in the first half of 2024, marking a 21.15% increase year-on-year, with ongoing development of new materials [1]. - The report emphasizes the importance of R&D in maintaining competitive advantages and expanding the customer base [1].

Investment Rating - The report maintains a "Buy" rating for the company [2][3]. Core Insights - The company achieved a revenue of 246 million yuan in the first half of 2024, representing a year-on-year growth of 73.65%, and a net profit attributable to the parent company of 92 million yuan, up 111.43% year-on-year, aligning with expectations [2]. - The company's profitability has improved both year-on-year and quarter-on-quarter, with a significant increase in net profit in the second quarter, reflecting strong product performance and increased penetration in downstream clients [3]. - New product introductions have led to revenue and gross margin increases in the second quarter, with revenue reaching 131 million yuan, a year-on-year increase of 85.28% and a quarter-on-quarter increase of 15.24% [3]. - The overall demand for OLED panels is rising, supported by a recovery in consumer electronics demand, with domestic panel manufacturers increasing their global market share to 50.7%, up from 40.6% in the first half of 2023 [3]. Financial Projections - The projected net profits for 2024, 2025, and 2026 are 212 million yuan, 314 million yuan, and 450 million yuan respectively, with corresponding EPS of 0.53 yuan, 0.78 yuan, and 1.12 yuan, leading to PE ratios of 30.61X, 20.70X, and 14.43X [3][5].

证券代码：688150 证券简称：莱特光电 公告编号：2024-037 陕西莱特光电材料股份有限公司 关于召开2024年半年度业绩说明会的公告 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： 一、说明会类型 陕西莱特光电材料股份有限公司（以下简称"公司"）已于 2024 年 8 月 20 日在 上海证券交易所网站（www.sse.com.cn）上披露了公司《2024 年半年度报告》。为便 于广大投资者更加全面深入地了解公司 2024 年半年度经营成果、财务状况，公司定 于 2024 年 8 月 27 日（星期二）15:00-16:00 举办公司 2024 年半年度业绩说明会，与 投资者进行沟通和交流，广泛听取投资者的意见和建议。 会议召开时间：2024 年 8 月 27 日（星期二）15:00-16:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络互动方式 会 议 问 题 征 集 ： 投 资 者 可 于 2024 年 8 月 27 日 前 访 问 网 址 https://es ...

证券代码：688150 证券简称：莱特光电 公告编号：2024-032 陕西莱特光电材料股份有限公司 关于 2024 年半年度募集资金存放与实际使用情况的 专项报告 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。 根据中国证券监督管理委员会《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上市公司自律监管指引第 1 号 ——规范运作》《上海证券交易所科创板股票上市规则》等有关规定，现就陕西莱特 光电材料股份有限公司（以下简称"公司"或"莱特光电"）2024 年半年度募集资 金存放与实际使用情况专项说明如下： 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 根据中国证券监督管理委员会《关于同意陕西莱特光电材料股份有限公司首次 公开发行股票注册的批复》（证监许可[2021]4122号），同意公司首次公开发行股票 的注册申请。并经上海证券交易所同意，公司首次向社会公开发行人民币普通股（A 股）40,243,759股，发行价格为每股人民币22.05元，实际募集资金金额为人民币 ...

第一条 为规范陕西莱特光电材料股份有限公司（以下简称"公司"）信息披露暂 缓与豁免行为，督促公司依法合规履行信息披露义务，保护投资者的合法权益，根据 《中华人民共和国证券法》《上海证券交易所科创板股票上市规则》（以下简称"《科 创板上市规则》"）《陕西莱特光电材料股份有限公司章程》（以下简称"《公司章程》"） 《陕西莱特光电材料股份有限公司信息披露管理制度》（以下简称"《信息披露管理制 度》"）等规定，制定本制度。 陕西莱特光电材料股份有限公司 信息披露暂缓与豁免事项管理制度 第二条 公司按照《科创板上市规则》及上海证券交易所其他相关业务规则的规 定，办理信息披露暂缓、豁免业务的，适用本制度。 第三条 公司自行审慎判断存在《科创板上市规则》规定的暂缓、豁免情形的应 披露信息，不得随意扩大暂缓、豁免事项的范围。暂缓披露的信息已经泄露的，应当 及时披露。并接受上海证券交易所对有关信息披露暂缓、豁免事项的事后监管。对于 不符合暂缓、豁免披露条件的信息，应当及时披露。 第四条 公司拟披露的信息存在不确定性，属于临时性商业秘密等情形，及时披 露可能损害公司利益或者误导投资者的，可以暂缓披露。 第五条 拟披露的信息被依法 ...

证券代码：688150 证券简称：莱特光电 公告编号：2024-035 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的公司 《2024 年半年度报告》及《2024 年半年度报告摘要》。 二、审议通过了《关于 2024 年半年度募集资金存放与实际使用情况的专项报告 的议案》 本公司监事会及全体监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。 公司监事会认为：公司 2024 年半年度募集资金的存放和实际使用情况符合中国 证监会《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》 和《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》等相关规 定及公司《募集资金管理办法》的要求，公司对募集资金进行专项存储，不存在变 相改变募集资金用途及损害股东利益的情形，不存在违规使用募集资金的情形。 根据《中华人民共和国公司法》及陕西莱特光电材料股份有限公司（以下简称"公 司"）《公司章程》的有关规定，第四届监事会第五次会议于 2024 年 8 月 19 日在公 司会议室以现场结合通讯方式召开，本次 ...