Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Views - The company has shown robust growth with a revenue of 411 million yuan in 2024, representing a year-on-year increase of 11.09%. The net profit attributable to shareholders reached 57.79 million yuan, up 23.66% year-on-year, while the net profit excluding non-recurring items increased by 66.31% to 33.44 million yuan [4][5] - In Q1 2025, the company reported a revenue of 125 million yuan, a significant increase of 53.27% year-on-year, with net profit attributable to shareholders rising by 55.48% to 22.66 million yuan [4][5] - The company is benefiting from a shift in product structure that has improved gross margins, driven by the development of new products and expansion into new markets [5] - The introduction of 5G-A technology is expected to enhance the company's market position, particularly in the production of dielectric waveguide filters, which are advantageous over traditional metal cavity filters [6][8] Financial Summary - The company achieved a revenue of 4.11 billion yuan in 2024, with projected revenues of 6.2 billion yuan in 2025, 9 billion yuan in 2026, and 13 billion yuan in 2027 [10][13] - The net profit attributable to shareholders is expected to grow from 120.07 million yuan in 2025 to 252.95 million yuan in 2027, reflecting a strong growth trajectory [10][13] - The company's P/E ratios for 2025, 2026, and 2027 are projected to be 84, 53, and 40 respectively, indicating a favorable valuation outlook [10][13]

Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Views - The company has shown robust growth with a revenue of 411 million yuan in 2024, representing a year-on-year increase of 11.09%. The net profit attributable to shareholders reached 57.79 million yuan, up 23.66% year-on-year, while the net profit excluding non-recurring items increased by 66.31% to 33.44 million yuan [4][5] - In Q1 2025, the company reported a revenue of 125 million yuan, a significant year-on-year growth of 53.27%, with net profit attributable to shareholders at 22.66 million yuan, up 55.48% [4][5] - The company is benefiting from a shift in product structure, which has led to an increase in gross margins. The revenue from filter products, non-filter products, and HTCC was 353 million yuan, 41 million yuan, and 14 million yuan respectively, with gross margins of 26.57%, 48.40%, and 46.78% [5] Company Overview - The latest closing price of the company's stock is 25.33 yuan, with a total market capitalization of 10.1 billion yuan. The company has a total share capital of 400 million shares and a debt-to-asset ratio of 15.0% [3] - The company is focused on the development of medium waveguide filters, which are expected to see increased demand with the advancement of 5G-A technology. This technology is anticipated to enhance user experience significantly compared to existing 5G [6][8] - The HTCC product line is expanding, with the company developing various applications in new energy, semiconductors, and consumer electronics. The company has established a complete automated production line for HTCC products [9] Financial Projections - The company is projected to achieve revenues of 620 million yuan, 904 million yuan, and 1.3 billion yuan in 2025, 2026, and 2027 respectively. The net profit attributable to shareholders is expected to reach 120 million yuan, 190 million yuan, and 253 million yuan in the same years [10][13] - The current price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are estimated to be 84 times, 53 times, and 40 times respectively, indicating a strong growth outlook [10][13]

中信建投证券股份有限公司 关于江苏灿勤科技股份有限公司 首次公开发行股票并在科创板上市之保荐总结报告书 中信建投证券股份有限公司（下称"中信建投证券""保荐机构"或"本机 构"）作为江苏灿勤科技股份有限公司（下称"灿勤科技""公司""上市公司" 或"发行人"）首次公开发行股票并在科创板上市的保荐机构，持续督导期限至 2024 年 12 月 31 日止。截至 2024 年 12 月 31 日，中信建投证券作为灿勤科技首 次公开发行股票并在科创板上市的保荐机构对灿勤科技持续督导期限已经届满。 灿勤科技于 2025 年 4 月 8 日披露 2024 年年度报告，中信建投证券现根据《证 券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》《科创 板上市公司持续监管办法（试行）》等法规、规范性文件相关要求，出具本保荐 总结报告书。 一、保荐机构及保荐代表人承诺 | 发行人名称 | 江苏灿勤科技股份有限公司 | | --- | --- | | 证券代码 | 688182.SH | | 注册资本 | 万元 40,000 | | 注册地址 | 张家港保税区金港路 266 号 | | 主要办公地址 | 张家港保税区 ...

Group 1 - The closing price of Zhanqin Technology (688182) on April 18 was 27.16 yuan, reaching the daily limit with a trading volume of 4.04 billion yuan and a turnover rate of 4.00% [2] - The stock was listed on the daily trading list due to a price increase of 15% at the close [2] - The top five trading departments accounted for a total transaction amount of 1.33 billion yuan, with a net selling of 605.48 million yuan [2] Group 2 - The main capital inflow for the stock was 56.77 million yuan throughout the day [3] - The top buying departments included Guotai Junan Securities Headquarters with a purchase amount of 21.37 million yuan and two institutional special seats with purchases of 13.89 million yuan and 12.63 million yuan respectively [3] - The top selling department was Guotai Junan Securities Headquarters, which sold 17.04 million yuan worth of shares [3]

智通财经4月18日电，华脉科技、武汉凡谷双双涨停，达利凯普20CM涨停，硕贝德涨超10%，灿勤科 技、大富科技、世嘉科技、胜宏科技、广脉科技、富士达、大唐电信等涨超5%。消息面上，国新办于 今日上午10时举行一季度有关经济数据例行新闻发布会，工业和信息化部总工程师谢少锋表示，截至3 月底，累计建成开通5G基站439.5万个，具备千兆网络服务能力的10G PON端口数达到了2925万个，5G 用户普及率达到了75.9% 5G概念股异动拉升 华脉科技、武汉凡谷双双涨停 ...

中信建投证券股份有限公司 关于江苏灿勤科技股份有限公司 2024 年持续督导年度报告书 | 保荐人名称：中信建投证券股份有限 | 上市公司名称：江苏灿勤科技股份有限 | | --- | --- | | 公司 | 公司 | | 保荐代表人姓名：李一睿 | 联系方式：021-68827418 联系地址：上海市浦东南路 528 号上海 | | | 证券大厦北塔 室 2206 | | 保荐代表人姓名：胡海平 | 联系方式：021-68824634 | | | 联系地址：上海市浦东南路 号上海 528 | | | 证券大厦北塔 室 2206 | 经中国证券监督管理委员会（简称"中国证监会"）"证监许可〔2021〕3231 号文"批准，江苏灿勤科技股份有限公司（简称"公司"或"灿勤科技"）首次 公开发行人民币普通股（A 股）10,000.00 万股，每股面值 1.00 元，每股发行价 格为 10.50 元，募集资金总额 1,050,000,000.00 元，扣除各项发行费用（不含增 值税）75,734,004.80 元后，募集资金净额为 974,265,995.20 元。本次公开发行股 票于 2021 年 11 月 16 ...

Financial Performance - The company's operating revenue for Q1 2025 reached ¥125,084,899.49, representing a 53.27% increase compared to the same period last year[3] - Net profit attributable to shareholders of the listed company was ¥22,659,354.56, up 55.48% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 91.21% to ¥18,011,407.27[3] - Basic and diluted earnings per share both increased by 50.00% to ¥0.06[3] - Total revenue for Q1 2025 reached ¥125,084,899.49, a 53.3% increase from ¥81,609,698.55 in Q1 2024[18] - Net profit for Q1 2025 was ¥23,648,770.16, representing an increase of 74.0% compared to ¥13,607,405.40 in Q1 2024[20] - Operating profit for Q1 2025 was ¥26,244,611.15, a 77.6% increase from ¥14,757,079.26 in Q1 2024[19] - Basic earnings per share for Q1 2025 were ¥0.06, compared to ¥0.04 in Q1 2024[20] Cash Flow and Investments - The net cash flow from operating activities was negative at -¥420,945.94, a decline of 101.15% compared to the previous year[3] - Total cash inflow from investment activities amounted to 768,407,025.76, significantly higher than 201,967,784.89 in the prior period[23] - Cash outflow from investment activities totaled 608,320,720.78, compared to 281,262,509.63 previously[23] - The net cash flow from financing activities was 17,198,498.72, reflecting a positive change from the previous period[24] - The company received cash from investment recovery amounting to 763,000,000.00, up from 200,000,000.00 previously[23] - Cash received from minority shareholders' investments was 5,340,000.00, indicating continued interest from investors[24] - The company paid 2,300,000.00 in dividends and interest, reflecting its commitment to returning value to shareholders[24] - The cash inflow from borrowing was 14,158,498.72, contributing to the financing activities[24] - The impact of exchange rate changes on cash and cash equivalents was 3,574.83, showing minor fluctuations[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,560,477,952.17, a slight decrease of 0.27% from the end of the previous year[4] - Total current assets decreased to RMB 1,539,792,636.75 from RMB 1,611,210,096.18, reflecting a decline of about 4.4%[13] - The company's inventory increased slightly to RMB 154,997,550.27 from RMB 152,079,028.35, indicating a growth of approximately 1.9%[13] - Long-term equity investments remained stable at RMB 4,457,158.29 compared to RMB 4,450,456.09, showing minimal change[13] - The company’s fixed assets decreased to RMB 364,521,257.48 from RMB 373,595,887.01, a decline of about 2%[13] - Total liabilities decreased to ¥351,574,074.99 from ¥385,208,978.01[15] - The company's total equity increased to ¥2,208,903,877.18 from ¥2,182,159,670.29[15] - Non-current assets totaled ¥1,020,685,315.42, up from ¥956,158,552.12[15] Research and Development - The total R&D investment amounted to ¥9,010,643.04, accounting for 7.20% of operating revenue, a decrease of 2.93 percentage points[4] - The company is focusing on expanding its market presence and developing new technologies, although specific figures were not disclosed in the call[10] Shareholder Information - The top 10 shareholders collectively hold 70.39% of the company's shares, indicating strong insider ownership[10] - The company has no reported participation in margin financing or securities lending activities among its top shareholders[10] Operational Insights - The company attributed the revenue growth to increased customer demand for existing products and the successful launch of new products in new markets[6] - Non-recurring gains and losses for the period totaled ¥4,647,947.29, with significant contributions from government subsidies and other financial activities[6] - The company’s accounts receivable remained relatively stable, with a slight decrease from RMB 170,290,855.77 to RMB 169,583,395.12[13] - The company has not disclosed any significant changes in its operational strategies or future outlook during the earnings call[11] - Total operating costs for Q1 2025 were ¥104,768,929.07, up 40.7% from ¥74,456,760.28 in Q1 2024[19] - Cash received from sales of goods and services in Q1 2025 was ¥137,574,115.40, an increase from ¥113,432,889.47 in Q1 2024[22]

灿勤科技公告，2025年第一季度营业收入1.25亿元，同比增长53.27%。净利润2265.94万元，同比增长 55.48%。 ...

灿勤科技 20250408 摘要 2024 年灿勤科技的营收达到 4.1 亿元，同比增长 11%。归母净利润为 5,780 万 元，同比增长 23%；扣非后的净利润为 3,300 多万元，增长 66.31%。公司在 2024 年推出了一些新产品，并拓展了新的业务市场，产品结构变化提升了毛利 率。此外，公司股份支付费用同比减少，财务费用中的利息收入有所增加，这 些因素共同推动了利润的增长。现金流方面，公司在 2024 年的净额达到 1.13 亿元，同比增长 240%。这一增幅主要由于采购账期调整、销售订单增加以及各 • 灿勤科技 2024 年营收增长 31%，主要受益于新产品推出和市场拓展，产品 结构优化提升毛利率，股份支付费用减少及利息收入增加共同推动利润增 长。现金流净额达 1.13 亿元，同比增长 240%，得益于采购账期调整、销 售订单增加及经营活动现金流出下降。 • 公司对 2025 年持中性偏乐观态度，受益于 5G-A 订单增量、超大尺寸介质 滤波器渗透率提升及 HTCC 产线投产。预计新产品销售将从五月或六月开始， 但机器人和卫星互联网等新兴领域短期内难以贡献显著收入和利润。 • 5G-A 应用需 ...

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。 一、计提资产减值（信用减值）准备情况的概述 根据《企业会计准则》和《上海证券交易所科创板股票上市规则》的相关规 定，为客观、公允地反映江苏灿勤科技股份有限公司（以下简称"公司"）截至 2024年12月31日的财务状况和2024年度的经营成果，公司及下属子公司对截至 2024年12月31日的应收款项、存货、固定资产、在建工程、无形资产、长期股权 投资等各类资产进行了减值测试，公司2024年度计提各项资产减值准备合计人民 币10,938,312.52元，具体情况如下： 单位：人民币元 | 序号 | 报表项目 | 2024年度计提金额 | | 备注 | | --- | --- | --- | --- | --- | | 1 | 信用减值损失 | | 4,579,958.14 | 应收账款、应收票据 | | 2 | 资产减值损失 | | 6,358,354.38 | 存货跌价准备 | | | 合计 | | 10,938,312.52 | / | 二、计提资产减值准备事项的具体说明 （ ...