唯捷创芯（天津）电子技术股份有限公司 关于回购股份事项前十大股东和前十大无限售条件 股东持股情况的公告 证券代码：688153 证券简称：唯捷创芯 公告编号：2024-040 | 9 | 天津语尚科技合伙企业（有限合伙） | 9,278,263 | 2.16 | | --- | --- | --- | --- | | 10 | 中国工商银行股份有限公司－诺安成长混合 | 8,930,057 | 2.08 | | | 型证券投资基金 | | | 二、公司前十大无限售条件股东持股情况 | 序 号 | 股东名称 | 持股数量 （股） | 占无限售条 件流通股比 | | --- | --- | --- | --- | | | | | 例（%） | | 1 | 深圳市贵人资本投资有限公司 | 30,486,076 | 26.80 | | 2 | 中国工商银行股份有限公司－诺安成长混合 | 8,930,057 | 7.85 | | | 型证券投资基金 | | | | 3 | 哈勃科技创业投资有限公司 | 5,325,652 | 4.68 | | 4 | 深圳市顺水孵化管理有限公司 | 5,040,000 | 4.43 | ...

证券代码：688153 证券简称：唯捷创芯 公告编号：2024-039 唯捷创芯（天津)电子技术股份有限公司 关于以集中竞价交易方式回购股份的预案 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： 1、本次回购股份存在回购期限内公司股票价格持续超出回购价格上限，导致 回购方案无法顺利实施的风险； 2、若发生对公司股票交易价格产生重大影响的重大事项，或公司生产经营、 回购股份金额：不低于人民币 10,000 万元（含），不超过人民币 15,000 万 元（含） 回购股份资金来源：公司自有资金 回购股份用途：本次回购的股份拟用于员工持股计划或者股权激励 回购股份价格：本次回购股份的价格不超过人民币 46.72 元/股（含），该 价格不高于公司董事会通过回购股份决议前 30 个交易日公司股票交易均 价的 150%。 回购股份方式：集中竞价交易方式 回购股份期限：自董事会审议通过本次回购方案之日起 12 个月内。 相关股东是否存在减持计划：经询问，截至本公告披露日，公司尚未收到 持股 5%以上的股东深圳市贵人资本投资 ...

证券代码：688153 证券简称：唯捷创芯 公告编号：2024-038 唯捷创芯（天津）电子技术股份有限公司 1、审议通过《关于董事长荣秀丽女士提议以集中竞价交易方式回购公司股 份方案的议案》 第四届董事会第五次会议决议公告 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、准确性和完整性依法承担法律责任。 唯捷创芯（天津）电子技术股份有限公司（以下简称"公司"）第四届董事 会第五次会议于 2024 年 9 月 10 日以现场及通讯表决的方式召开。董事会会议通 知和材料于 2024 年 9 月 5 日以电子邮件方式发出。会议应参加表决董事 11 人， 实际参加表决董事 11 人。本次会议符合《中华人民共和国公司法》和《唯捷创芯 （天津）电子技术股份有限公司章程》的有关规定。本次会议由荣秀丽女士召集。 参加会议的董事表决通过以下议案： 董事会认为：公司现阶段拟回购公司股份用于员工持股计划或股权激励，有 利于增强投资者信心，完善公司长效激励机制，有效推动公司的长远发展。公司 拟实施的股份回购方案符合《上市公司股份回购规则》《上海证券交易所上市公 司自律监管指引第 ...

Inventory Management - The company anticipates minimal inventory impairment pressure in the second half of the year, with inventory levels remaining stable compared to the end of Q1 [3] - Continuous tracking and proactive inventory management measures will be implemented to ensure efficiency and responsiveness to market changes [3] Satellite Communication Products - Significant growth in satellite communication RF front-end products was achieved in the first half of the year, primarily driven by sales in domestic flagship models [3] - Future growth in satellite communication products will depend on the progress of penetrating mid-range models [3] Automotive RF Front-End Solutions - The company successfully obtained AEC-Q100 certification for its 5G automotive-grade RF front-end solutions, leading to mass sales in multiple terminal products [4] - The company expects to rapidly increase market share in the automotive industry during the critical transition from 4G to 5G modules [4] Low-Voltage L-PAMiF Module - The low-voltage L-PAMiF module has been successfully adopted by several brand mobile clients, with reference design certification completed [4] - The growth of low-voltage products has been slightly impacted by the slower-than-expected progress of domestic SA (Standalone) projects, but more SA projects are preparing for initiation [5] L-PAMiD Module Market Performance - The revenue from the 5G RF power amplifier module accounted for over 50% of total revenue, with the L-PAMiD module showing strong year-on-year growth [5] - The company is actively expanding its market presence and exploring new customer groups to drive further business growth [5] Receiver Products Progress - The company achieved significant revenue growth in receiver products, with operating income reaching 21,752.54 million yuan, a year-on-year increase of 133.94% [6] - New products such as LNA bank have shown substantial growth, contributing to the overall performance of receiver products [6] Wi-Fi Product Outlook - The company remains optimistic about the Wi-Fi market, having successfully mass-produced Wi-Fi 7 modules in the router market and achieved bulk sales in the smartphone sector [6] - Plans are in place to expand cooperation with domestic brand mobile and router clients to further increase revenue [6] Overseas Market Expansion - The company has officially become a supplier for a well-known South Korean smartphone brand, with specific projects underway and expected deliveries starting in Q4 [7] - The expansion into overseas markets is a strategic focus for the company this year [7]

Group 1: Revenue Performance - The company's 5G RF power amplifier module revenue accounted for over 50% of total revenue from RF power amplifier modules, with the L-PAMiD module showing strong year-on-year growth [3] - In the first half of 2024, the company's receiving end products achieved significant revenue growth of 21,752.54 million yuan, representing a year-on-year increase of 133.94%, and accounted for 20.30% of the company's main business revenue [4] Group 2: Product Development and Market Strategy - The low-voltage version L-PAMiF module has been successfully introduced to several brand mobile phone customers and has completed reference design certification with platform vendors [3] - The company is optimistic about the Wi-Fi market, having achieved mass production of Wi-Fi 7 modules in the router market and bulk sales in the smartphone sector, enhancing competitiveness [4] Group 3: Future Outlook and Market Expansion - The company plans to continue consolidating and expanding market share among existing major clients while actively exploring new customer groups, focusing on the development of the next-generation L-PAMiD products [3] - As of the end of August, the company has officially become a supplier for a well-known South Korean smartphone brand, with specific projects underway and expected deliveries in Q4 [5]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is a leader in the RF industry, with continuous improvement in profitability. In H1 2024, total revenue reached 1.1 billion yuan (up 20% year-on-year), and net profit attributable to shareholders was 11 million yuan (turning profitable, an increase of 81 million yuan compared to the same period last year) [3] - The consumer electronics market is recovering, with new Android clients contributing to production capacity. The market share of domestic RF front-end chips in 5G smartphones continues to grow, and the company has successfully entered the supply chains of major smartphone manufacturers [3] - The company has achieved mass production of the L-PAMiD product, positioning itself as a comprehensive supplier of RF front-end solutions. The modular approach aligns with the industry's trend towards upgraded RF front-end solutions [3] Financial Forecast and Valuation - Revenue forecasts for 2024-2026 have been adjusted downwards due to declining demand in the consumer electronics market. The net profit attributable to shareholders is projected to be 140 million yuan in 2024, 210 million yuan in 2025, and 360 million yuan in 2026 [4] - Despite the adjustments, the company is expected to experience rapid growth in performance as demand increases, maintaining a "Buy" rating [4] Market Data - The closing price of the stock is 28.30 yuan, with a market capitalization of 12.17 billion yuan [6] - The price-to-earnings ratio (P/E) based on the latest diluted earnings per share is 194.95 for 2023, projected to decrease to 60.03 by 2026 [10] Basic Data - The company has a total share capital of 430 million shares, with a net asset per share of 9.64 yuan [7]

Group 1: Company Overview and Market Position - Weijie Chuangxin (Tianjin) Electronic Technology Co., Ltd. is focused on expanding its overseas market presence, having officially become a supplier for a well-known South Korean smartphone brand as of August 2024 [3]. - The company has successfully introduced its low-voltage L-PAMiF module to multiple brand smartphone clients, achieving significant market penetration [4]. - The revenue from the company's 5G RF power amplifier modules has exceeded 50% of total revenue from RF power amplifier products, indicating strong market demand [5]. Group 2: Financial Performance - In the first half of 2024, the company's revenue from receiving end products reached 217.5254 million yuan, representing a year-on-year increase of 133.94%, contributing to 20.30% of the main business revenue [5]. - The company has seen substantial growth in its satellite communication RF front-end products, primarily driven by sales in flagship domestic models [6]. Group 3: Product Development and Future Strategies - The company is actively planning to expand collaborations with domestic smartphone and router brands to further increase revenue [6]. - The 5G automotive-grade RF front-end solution has received AEC-Q100 certification and is being sold in multiple terminal products, with expectations for stable growth in shipment volumes [7]. - The company aims to enhance its market share among existing major clients while exploring new customer segments, particularly focusing on the development of next-generation L-PAMiD products [5]. Group 4: Market Challenges and Inventory Management - The RF front-end market, especially for power amplifiers, is experiencing intense competition, which has put pressure on the company's gross margins [7]. - The company anticipates minimal inventory impairment pressure in the second half of the year, maintaining stable inventory levels compared to the end of the first quarter [8].

Investment Rating - The investment rating for the company is "Outperform the Market" [4][12]. Core Views - The company achieved a revenue of 1.072 billion yuan in the first half of 2024, representing a year-on-year growth of 20.28%. The net profit attributable to shareholders was 11.27 million yuan, marking a turnaround from losses in the previous year. The gross margin decreased by 3.0 percentage points to 25.73% [1]. - The revenue from the receiving module more than doubled, with over 53.9% of the revenue from RF power amplifier modules coming from 5G applications. The company successfully introduced new products and achieved mass sales, including the L-PAMiD module and Wi-Fi 7 modules [1][2]. - The company has adjusted its net profit forecasts for 2024-2026 to 248 million, 406 million, and 569 million yuan, respectively, due to pricing competition affecting gross margins [1][2]. Summary by Sections Financial Performance - In Q2 2024, the company reported revenue of 610 million yuan, a year-on-year increase of 6.5% and a quarter-on-quarter increase of 32%. The net profit attributable to shareholders was 16.64 million yuan, up 34% year-on-year and 410% quarter-on-quarter [1]. - The company’s revenue from RF power amplifier modules was 854 million yuan, accounting for 80% of total revenue, with a gross margin of 26.14% [1][2]. Product Development - The company successfully introduced the L-PAMiF module to several brand manufacturers and achieved mass sales. The second-generation non-linear Wi-Fi 7 module has entered mass production [1]. - The company completed the design of the new generation L-FEM product and launched the first-generation L-DiFEM module, which is now in the market promotion stage [1]. Valuation Metrics - The company’s projected earnings per share for 2024, 2025, and 2026 are 0.58 yuan, 0.94 yuan, and 1.32 yuan, respectively. The price-to-earnings ratio is expected to be 53x, 32x, and 23x for the same years [2][10].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of RMB 44.10 [1] Core Views - The company's revenue for 2Q24 reached RMB 610 million, meeting expectations, with a year-on-year increase of 6.52% and a quarter-on-quarter increase of 32.29% [2] - Net profit attributable to the parent company was RMB 17 million, a year-on-year increase of 34.28%, marking a turnaround from the previous quarter [2] - The recovery in Android smartphone demand and the company's market expansion efforts, particularly in L-PAMiD and receiver products, drove revenue growth [2] - The company has made breakthroughs in Wi-Fi modules, automotive 5G RF front-end, and satellite communication RF front-end modules, opening long-term growth opportunities [2] - Revenue forecasts for 2024/2025/2026 have been revised downward to RMB 2.92 billion, RMB 3.61 billion, and RMB 4.56 billion, respectively, due to slower-than-expected smartphone demand recovery [2] 1H24 Performance Review - RF power amplifier modules generated revenue of RMB 854 million in 1H24, a year-on-year increase of 7.15%, with 5G PA modules contributing RMB 460 million, up 43.07% year-on-year [3] - Receiver products achieved revenue of RMB 218 million, a year-on-year increase of 133.94%, with its revenue share increasing by 9.86 percentage points to 20.30% [3] - Gross margin for 2Q24 was 23.97%, down 3.56 percentage points year-on-year and 4.10 percentage points quarter-on-quarter, attributed to intense market competition and the rising share of receiver products [3] - Inventory at the end of 2Q24 stood at RMB 925 million, an increase of RMB 70 million from the previous quarter, with inventory turnover days decreasing by 26 days to 178 days [3] 2024 Outlook - IDC forecasts a 6.85% year-on-year growth in domestic Android smartphone shipments in 2024, but revenue growth in the second half of the year may face pressure due to market competition and customer inventory strategies [4] - The company is expected to maintain a leading position in the RF front-end market, driven by the adoption of L-PAMiD in multiple brand customers and the potential growth of satellite communication products in flagship and mid-to-high-end smartphones [4] - New products such as LFEM, LNA Bank, and L-DiFEM modules are expected to be launched in the second half of 2024, while Wi-Fi 6/6E market share continues to grow, with Wi-Fi 7 products already in mass production for routers and smartphones [4] Financial Forecasts - Revenue for 2024/2025/2026 is projected at RMB 2.92 billion, RMB 3.61 billion, and RMB 4.56 billion, respectively, with net profit attributable to the parent company expected to be RMB 84.5 million, RMB 219.68 million, and RMB 437.72 million [5][6] - EPS for 2024/2025/2026 is forecasted at RMB 0.20, RMB 0.51, and RMB 1.02, respectively [6] - ROE is expected to improve from 2.07% in 2024 to 9.60% in 2026, reflecting the company's profitability growth [6] Valuation and Peer Comparison - The company is valued at 6.5x 2024 PS, higher than the industry average of 4.9x 2024 PS, reflecting its leading position in the RF front-end market [2] - Compared to peers, the company's valuation metrics such as P/E and P/S are higher, indicating market confidence in its growth potential [11]

唯捷创芯（天津）电子技术股份有限公司 通过提供全套的射频前端整体解决方案，公司旨在帮助客户简化产品设计流 程，缩短产品上市时间。我们也将加强品牌建设，提升公司在国内外市场的品牌 影响力。在这个过程中，公司将注重风险管理，确保能够灵活应对市场变化，保 持业务的稳定性和连续性，从而全面提升公司的核心竞争力、盈利能力以及品牌 影响力。 二、持续加强研发投入，保持技术领先优势 2024 年度提质增效重回报行动方案的半年度评估报告 为践行"以投资者为本"的发展理念，不断提高上市公司质量，并维护唯捷 创芯（天津）电子技术股份有限公司（以下简称"公司"）全体股东的利益，公 司基于对自身未来发展前景的坚定信心及对投资价值的深刻认可，特制定并披露 了 2024 年度"提质增效重回报"行动方案。本方案旨在提升公司经营管理效率， 强化市场竞争力和盈利能力，积极回报投资者，保障投资者权益，共同促进资本 市场的平稳健康发展。 遵循行动方案的指导思想，公司以提升高质量发展为基础，切实履行上市公 司的责任和义务。在 2024 年上半年，公司根据行动方案的内容，积极开展并落 实了各项工作。现将这些主要举措的实施情况及其效果报告如下： 一、聚 ...