Market Performance - The optical fiber concept index rose by 1.60%, ranking 10th among concept sectors, with 51 stocks increasing in value [1] - Leading gainers included Guangku Technology, Yuanjie Technology, and Wanma Co., with respective increases of 7.84%, 6.83%, and 5.96% [1] - The top decliners were Zhongguang Nuclear Technology, Delong Laser, and Zhongdian Xinlong, with declines of 1.89%, 1.87%, and 1.76% [1] Capital Flow - The optical fiber sector saw a net inflow of 508 million yuan, with 30 stocks receiving net inflows [1] - Wanma Co. led the net inflow with 170 million yuan, followed by Tianfu Communication and Taicheng Light with 155 million yuan and 147 million yuan respectively [1] - In terms of net inflow ratios, Zhao Chi Co., Bichuang Technology, and Wanma Co. had the highest rates at 14.19%, 10.24%, and 8.73% respectively [2] Stock Performance - Notable stock performances included Guangku Technology with a 7.84% increase and Yuanjie Technology with a 6.83% increase, while Zhongguang Nuclear Technology experienced a 1.89% decline [1][5] - The trading volume and turnover rates varied significantly among stocks, with Wanma Co. showing a turnover rate of 13.45% [2] - Stocks like Jiguang Technology and Longxin Technology also showed positive movements, with increases of 3.72% and 4.39% respectively [3]

Investment Rating - The report indicates a positive outlook for Focuslight, expecting double-digit year-over-year revenue growth in 2025E driven by various market demands [1][4]. Core Insights - Focuslight is positioned to benefit from rising demand for laser and optical components, particularly from local and overseas semiconductor equipment (SPE) clients, as well as the data center sector [2][4]. - The company is expanding its offerings in optical communication and is optimistic about the long-term migration to silicon photonics and chip-on-board (CPO) technologies [2][10]. - Focuslight's revenue growth is supported by its comprehensive product range, including diode laser components and laser optics, targeting multiple industries such as automotive, medical health, and consumer electronics [3][4]. Summary by Sections Growth Drivers - Key growth drivers identified for 2025 include laser and optical products for pan-semiconductor applications, optical communication, and the AR/VR market [4][9]. - Management anticipates improved profitability due to the shift of some back-end manufacturing processes from Europe to China [4]. Market Expansion - Focuslight is actively expanding into the pan-semiconductor market, with products utilized in flat panel display manufacturing and mini/micro LED soldering, driven by increasing demand from both local and overseas SPE clients [9]. - The acquisition of SUSS MicroOptics is expected to enhance Focuslight's penetration into the optical communication market, particularly with Chinese optical transceiver clients [10]. Optical Communication Opportunities - Focuslight provides various optical components such as microlenses and molded lenses for optical transceivers and fiber connectors, with management noting significant revenue potential from these products starting in 2025E [10]. - The company is optimistic about the increasing adoption of silicon photonics, which will require advanced microlens designs for integrated systems, thereby enhancing the value of Focuslight's offerings [10].

北 京 锦 路 安 生 (西 安 )律 师 事 务 所 科 技 股 份 有 限 公 司 2025 年 第 二 次 临 时 股 东 大 会 关于西安炬光科技股份有限公司 法律意见书 锦路安生律师事务所 西安：西安市高新区锦业路 1 号都市之门 D 座 1804-1805 深圳：深圳市南山区深南大道 9678 号大冲商务中心 1 栋 2 号楼 B 座 2603 北京：北京市朝阳区工体东路 18 号中复大厦东区四层 上海：上海市浦东新区南汇新城镇海基一路 88 号上海临港海洋科技广场 H2 座 4 楼 405 室 电话: +86 29 88600389 +86 10-56907800 传真：029-81875553 北 京 锦 路 安 生 (西 安 )律 师 事 务 所 关 于 西 安 炬 光 的 法律意见书 致：西安炬光科技股份有限公司 北京锦路安生(西安)律师事务所("本所")作为西安炬光科技股份有限公司 ("公司")的法律顾问，受公司委托，指派本所律师对公司 2025 年第二次临时股东 大会("本次股东大会")进行见证。本所律师根据《中华人民共和国公司法》("《公 司法》")、《中华人民共和国证券法》("《证 ...

关于未弥补亏 损达到实收股 本总额三分之 一的议案 关于选举钟鸿 钧先生为第四 届董事会独立 董事的议案 关于选举王英 哲先生为第四 届董事会独立 董事的议案 （四） 关于议案表决的有关情况说明 三、 律师见证情况 | 证券代码：688167 证券简称：炬光科技 公告编号：2025-047 | | | --- | --- | | 西安炬光科技股份有限公司 | | | 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： | | | 本次会议是否有被否决议案：无 | ? | | 一、 会议召开和出席情况 | | | （一） 股东大会召开的时间：2025 年 6 月 13 日 | | | （二） 股东大会召开的地点：陕西省西安市高新区丈八六路 56 号西安炬光科技 | | | 股份有限公司华山会议室 | | | （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 | | | 其持有表决权数量的情况： | | | 普通股股东人数 48 | | | 普通股股东所持有表决权数量 1 ...

证券代码：688167 证券简称：炬光科技 公告编号：2025-047 西安炬光科技股份有限公司 2025年第二次临时股东大会决议公告 本次会议由公司董事会召集，由董事长刘兴胜先生主持。本次会议以现场投 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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 6 月 13 日 （二） 股东大会召开的地点：陕西省西安市高新区丈八六路 56 号西安炬光科技 股份有限公司华山会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 48 | | --- | --- | | 普通股股东人数 | 48 | | 2、出席会议的股东所持有的表决权数量 | 12,197,334 | | 普通股股东所持有表决权数量 | 12,197,334 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 13.8498 | | 例（%） | | | ...

北京锦路安生(西安)律师事务所 关于西安炬光科技股份有限公司 2025 年第二次临时股东大会的 法律意见书 锦路安生律师事务所 西安：西安市高新区锦业路 1 号都市之门 D 座 1804-1805 深圳：深圳市南山区深南大道 9678 号大冲商务中心 1 栋 2 号楼 B 座 2603 北京：北京市朝阳区工体东路 18 号中复大厦东区四层 上海：上海市浦东新区南汇新城镇海基一路 88 号上海临港海洋科技广场 H2 座 4 楼 405 室 电话: +86 29 88600389 +86 10-56907800 传真：029-81875553 北京锦路安生(西安)律师事务所关于西安炬光 科技股份有限公司 2025 年第二次临时股东大会 的 法律意见书 致：西安炬光科技股份有限公司 北京锦路安生(西安)律师事务所("本所")作为西安炬光科技股份有限公司 ("公司")的法律顾问，受公司委托，指派本所律师对公司 2025 年第二次临时股东 大会("本次股东大会")进行见证。本所律师根据《中华人民共和国公司法》("《公 司法》")、《中华人民共和国证券法》("《证券法》")及《上市公司股东会规则》 ("《股东会规则》") ...

Core Insights - The company, Juguang Technology, closed at 73.9 yuan on June 10, with a decline of 2.38% and a latest price-to-book ratio of 3.17, resulting in a total market capitalization of 6.678 billion yuan [1] - As of the first quarter of 2025, 13 institutions held shares in Juguang Technology, including 6 funds, 5 others, and 2 brokerages, with a total holding of 15.2327 million shares valued at 1.142 billion yuan [1] - Juguang Technology specializes in the research, development, production, and sales of high-power semiconductor laser components and materials, as well as laser optical components, automotive application solutions, and healthcare solutions [1] Financial Performance - In the first quarter of 2025, the company reported revenue of 170 million yuan, representing a year-on-year increase of 23.75% [1] - The net profit for the same period was -31,954,633 yuan, showing a year-on-year decrease of 97.38% [1] - The sales gross margin stood at 33.39% [1] Industry Comparison - Juguang Technology's price-to-earnings ratio (TTM) is -35.02, while the industry average is 107.29 [2] - The company's price-to-earnings ratio (static) is -38.18, compared to the industry median of 63.74 [2] - The market capitalization of Juguang Technology is 6.678 billion yuan, while the industry average market capitalization is 27.073 billion yuan [2]

Company Overview - Juguang Technology (688167) has repurchased a total of 503,800 shares, accounting for 0.56% of the total share capital, with a total repurchase amount of 35.19 million yuan as of May 31, 2025 [1] - The company has implemented four share repurchase plans since its listing, with a cumulative repurchase amount of 216 million yuan and cash dividends of 65.87 million yuan, reflecting its commitment to shareholder value [1] - The chairman and general manager, Liu Xingsheng, expressed confidence in the company's future and a strong willingness to increase personal holdings when supportive policies arise [1] Strategic Layout - Juguang Technology has established a comprehensive competitive advantage in the industry chain, focusing on photon technology applications and manufacturing services, particularly in optical communication, consumer electronics, and semiconductor processes [2] - The company’s R&D investment reached 95 million yuan in 2024, the highest since its listing, and it holds 594 authorized patents, including 263 overseas invention patents [2] Product Development - The company has made significant progress in various product areas, including advanced packaging materials for high-power semiconductor lasers and optical technologies for laser communication applications [3] - In the consumer electronics sector, Juguang Technology is developing high-end optical core components and micro-imaging modules for applications in visible light, infrared lighting, AR, VR, and 3D perception [3] - The company has also expanded its offerings in the automotive sector with laser radar solutions and is advancing its medical health product line with new laser skin treatment modules [3] Industry Outlook - The global optical communication market is projected to reach 30.7 billion USD by 2025, with growth rates significantly exceeding those of the overall photonics component market [4] - The integration of AI and AR/VR technologies is driving advancements in the consumer electronics industry, positioning Juguang Technology's optical sensing technologies as essential components in next-generation smart devices [4] - The semiconductor industry is experiencing growth due to increased domestic investment and policy support, presenting a favorable development period for domestic manufacturers [4]

Core Viewpoint - Juguang Technology's stock closed at 70.67 yuan, up 3.85%, with a latest price-to-book ratio of 3.03 and a total market capitalization of 6.386 billion yuan [1] Company Overview - Juguang Technology specializes in the research, production, and sales of high-power semiconductor laser components and materials, as well as laser optical components [1] - The company's main products include semiconductor laser components, optical components, automotive application solutions, semiconductor process solutions, healthcare solutions, and global photonic process and manufacturing services [1] - The company has established core technology teams globally, with locations in China, Germany, North America, Europe, and Singapore, and has received multiple national innovation awards [1] Financial Performance - For Q1 2025, Juguang Technology reported revenue of 170 million yuan, a year-on-year increase of 23.75% [1] - The net profit for the same period was -31.95 million yuan, reflecting a year-on-year decrease of 97.38% [1] - The gross profit margin for the company stood at 33.39% [1] Institutional Holdings - As of Q1 2025, 13 institutions held shares in Juguang Technology, including 6 funds, 5 other institutions, and 2 brokerages, with a total holding of 15.23 million shares valued at 1.142 billion yuan [1]

证券代码：688167 证券简称：炬光科技 西安炬光科技股份有限公司 2025 年第二次临时股东大会会议资料 西安炬光科技股份有限公司 Focuslight Technologies Inc. 会议资料 西安炬光科技股份有限公司 2025 年第二次临时股东大会 会议资料 目 录 西安炬光科技股份有限公司 2025 年第二次临时股东大会会议资料 西安炬光科技股份有限公司 为维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证股 东大会的顺利进行，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规则》 以及《西安炬光科技股份有限公司章程》（以下简称"《公司章程》"）、《西安炬 光科技股份有限公司股东大会议事规则》等相关规定，特制定西安炬光科技股份 有限公司（以下简称"公司"）2025 年第二次临时股东大会会议须知： 一、公司负责本次股东大会的议程安排和会务工作，为确认出席大会的股东 及其代理人或其他出席者的出席资格，会议工作人员将对出席会议者的身份进行 必要的核对工作，请被核对者给予配合。 二、出席会议的股东及股东代理人须在会 ...