证券代码：688200 证券简称：华峰测 控 北京华峰测控技术股份有限公司 投资者关系活动记录表 | £特定对象调研 | □分析师会议 | | | | | --- | --- | --- | --- | --- | | □媒体采访 | 业绩交流会 | 投资者 | R | | | 关系 | □新闻发布会 | □路演活动 | | | | 活动类别 | £现场参观 | □一对一沟通 | | | | 电话会议 | R | | | | | 参与单位 | 150+家投资机构及相关人员（详见附件 | 1《与会人员清单》） | | | | 及人员 | | | | | | 时间 | 年 | 月 | 2024 | 8 | | 董事长 | 孙镪 | | | | | 接待人员 | 总经理 | 蔡琳 | | | | 副总经理 | 徐捷爽 | | | | | 投资者关系活动主要内容 | | | | | | 一、公司情况概述 | | | | | | 公司就行业概况、2024 | 年上半年的经营情况及未来发展方向等投资要点 | | | | | 做了介绍。 | | | | | | 二、互动问答部分 | | | | | 答：公司目前的在手订单良 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market [4][6]. Core Insights - The company has shown signs of a performance turnaround with a recovery in downstream demand, as evidenced by a 33.52% year-on-year revenue growth in Q2 2024 [4][5]. - The semiconductor market is experiencing a rebound, with global sales reaching $149.9 billion in Q2 2024, a year-on-year increase of 18.3% [5]. - The company is expanding its overseas market presence, with new operations launched in Japan, Malaysia, and the United States [6]. Financial Summary - For the first half of 2024, the company reported revenue of 379 million yuan, a slight decline of 0.63% year-on-year, while net profit decreased by 30.25% to 112 million yuan [4][8]. - The gross margin improved to 75.85%, up by 5.28 percentage points year-on-year, while the net margin decreased to 29.68%, down by 12.59 percentage points [5]. - The company forecasts net profits of 324 million yuan, 402 million yuan, and 519 million yuan for 2024, 2025, and 2026 respectively, with corresponding PE ratios of 35X, 28X, and 22X [6][8].

446 下 | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------|----------------|-------------------------------|--------------------------|----------------------| | 2024 年 08 月 27 日 \n华峰测控（ 688200.SH ） | | | 公司研究●证券研究报告 | 公司快报 | | 24Q2 业绩环比显著提升，以期 STS8600 验证&海 | 投资评级 | | 电子 \| 买入 -A( | 半导体设备Ⅲ 维持) | | 外市场拓展 | 股价 | (2024-08-27) | | 82.50 元 | | 投资要点 | 交易数据 | 总市值（百万元） | | 11,173.75 | | 行业逐 ...

F原证券 电子/半导体 公 司 研 究 华峰测控（688200.SH） 2024 年 08 月 27 日 2024Q2 业绩企稳回升，积极推进测试机全球化布局 ——公司信息更新报告 投资评级：买入（维持） 罗通（分析师） luotong@kysec.cn 证书编号：S0790522070002 刘天文（分析师） liutianwen@kysec.cn 证书编号：S0790523110001 开 源 证 券 证 券 研 究 报 告 公司信息更新报告 | --- | --- | |-------------------------|--------------| | 日期 | 2024/8/27 | | 当前股价 ( 元 ) | 82.50 | | 一年最高最低 ( 元 ) | 146.59/66.28 | | 总市值 ( 亿元 ) | 111.74 | | 流通市值 ( 亿元 ) | 111.74 | | 总股本 ( 亿股 ) | 1.35 | | 流通股本 ( 亿股 ) | 1.35 | | 近 3 个月换手率 (%) | 49.2 | 股价走势图 -64% -48% -32% -16% 0% 16% 202 ...

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook based on expected performance improvements and growth potential [3]. Core Insights - The company reported a revenue of 379 million yuan for the first half of 2024, showing a year-over-year decline of 0.63%, but a significant recovery in the second quarter with a revenue of 242 million yuan, representing a year-over-year increase of 33.52% and a quarter-over-quarter increase of 77.05% [1]. - The net profit attributable to the parent company for the first half of 2024 was 112 million yuan, down 30.25% year-over-year, but the second quarter saw a net profit of 89 million yuan, which is a year-over-year increase of 2.85% and a quarter-over-quarter increase of 279.94% [1]. - The company is expanding its product line with the introduction of the 8600 series, aimed at SOC testing, enhancing its market coverage [1]. - The company is actively pursuing international market expansion, with new operations in Japan, Malaysia, and the United States, contributing to a global installed base of over 7,000 testing devices [1]. - Revenue projections for 2024-2026 are estimated at 886 million, 1.083 billion, and 1.311 billion yuan, with net profits expected to be 330 million, 424 million, and 517 million yuan respectively, reflecting a positive growth trajectory [2][4]. Financial Summary - For 2023, the company reported total revenue of 691 million yuan, with a projected growth rate of 28.2% for 2024, followed by 22.3% in 2025 and 21.0% in 2026 [2][4]. - The net profit for 2023 was 252 million yuan, with expected growth rates of 30.9% in 2024, 28.6% in 2025, and 22.1% in 2026 [2][4]. - The company's PE ratio is projected to decrease from 43 in 2023 to 21 by 2026, indicating an improving valuation as earnings grow [2][4].

Investment Rating - The report maintains a rating of "Accumulate" for the company [1] Core Views - The company shows signs of recovery in performance, benefiting from downstream demand recovery, with Q2 2024 revenue of 242 million yuan, a year-on-year increase of 33.5% and a quarter-on-quarter increase of 77.1% [2][3] - The gross margin remains stable at 75.9% for the first half of 2024, while the net profit margin decreased to 29.7% due to increased operating expenses [2][3] - The company is actively pursuing global expansion, with the first STS8300 testing machine installed overseas, indicating a commitment to serving international clients [3] - The report forecasts net profits for 2024-2026 at 344.96 million yuan, 458.49 million yuan, and 538.59 million yuan respectively, with corresponding dynamic P/E ratios of 31, 24, and 20 [3] Financial Performance Summary - Total revenue for 2024 is projected to be 906.65 million yuan, with a year-on-year growth of 31.24% [1] - The company reported a net profit of 1.12 billion yuan in the first half of 2024, down 30.2% year-on-year, with a net profit margin of 29.7% [2][3] - The company has a significant increase in accounts receivable, which rose by 43% year-on-year, indicating pressure on cash flow due to reduced collections [3] Research and Development - The company continues to invest heavily in R&D, with 330 R&D personnel accounting for 47.62% of total employees, contributing to increased operating expenses [2][3] - The introduction of the new STS8600 testing system enhances the company's product line and testing capabilities, supporting long-term growth [3] Market Position and Strategy - The company is expanding its global footprint, with new subsidiaries in Japan and the USA, and the first overseas installation of its testing machine in Malaysia [3] - The report emphasizes the importance of technological innovation in maintaining competitive advantage within the testing sector [3]

Financial Performance - The company's operating revenue for the first half of 2024 was approximately ¥379.07 million, a decrease of 0.63% compared to ¥381.49 million in the same period last year [14]. - The net profit attributable to shareholders for the same period was approximately ¥112.49 million, reflecting a decline of 30.25% from ¥161.27 million year-on-year [14]. - The net cash flow from operating activities decreased significantly by 87.58%, amounting to approximately ¥15.68 million compared to ¥126.22 million in the previous year [14]. - The basic earnings per share for the first half of 2024 was ¥0.83, down 30.83% from ¥1.20 in the same period last year [15]. - The company reported non-recurring gains and losses totaling approximately -¥14.52 million for the reporting period, influenced by various factors including government subsidies and asset disposals [18]. Research and Development - The company's R&D investment as a percentage of operating revenue increased to 20.32%, up by 3.12 percentage points from 17.20% in the previous year [16]. - The company reported a total R&D investment of ¥77,021,014.46, representing a 17.39% increase compared to ¥65,608,887.99 in the same period last year [23]. - The company has 330 R&D personnel, which constitutes 47.62% of the total workforce, an increase from 43.03% in the previous year [26]. - The company launched a new generation testing system, STS8600, aimed at the SoC testing field, enhancing its product line and testing capabilities [19]. - The company applied for a total of 21 patents during the reporting period, including 8 invention patents, bringing the cumulative total to 364 intellectual property applications [22]. Corporate Governance - The company has not reported any significant risks or non-operational fund occupation by controlling shareholders [2]. - The report indicates that the financial statements have not been audited, but the management has confirmed their accuracy and completeness [2]. - The company has no special arrangements for corporate governance that would affect the report's integrity [4]. - The company has not disclosed any significant changes in its financial indicators for the reporting period [10]. - The company has established an environmental management system and has received ISO14001 certification for its Beijing headquarters and Tianjin factory [50]. Shareholder Returns - The company plans to distribute a cash dividend of 2.30 CNY per 10 shares, totaling approximately 31.11 million CNY, which represents 27.66% of the net profit attributable to shareholders for the first half of 2024 [3]. - The company has implemented a strict cash dividend policy to provide reasonable returns to investors, prioritizing cash dividends over stock dividends [62]. - The company commits to a stable profit distribution policy, ensuring reasonable returns to shareholders while maintaining sustainable development [60]. - The company conducted two shareholder meetings during the reporting period, with all resolutions passed without any dissenting votes [46]. - The company approved the 2024 restricted stock incentive plan, granting 219,000 shares at a price of 56.00 CNY per share to 19 incentive recipients on July 8, 2024 [47]. Market Expansion and Strategy - The management discussion and analysis section will provide insights into market expansion and new product development strategies [5]. - The company is expanding its international market presence and accelerating product development in new application testing areas [34]. - The company has established a wholly-owned sales and service company in Japan and opened a factory in Malaysia, enhancing its global market presence [31]. - The company aims to improve operational efficiency through strengthened internal controls and better investment decision-making processes [61]. - The company will enhance market expansion capabilities and brand influence to increase market share of its main products [61]. Financial Position - The total assets of the company at the end of the reporting period were approximately ¥3.55 billion, an increase of 2.54% from ¥3.47 billion at the end of the previous year [14]. - The net assets attributable to shareholders increased to approximately ¥3.36 billion, reflecting a growth of 0.92% compared to ¥3.33 billion at the end of the previous year [14]. - The total liabilities increased to CNY 191,745,224.53 from CNY 134,370,580.57, reflecting a growth of approximately 42.7% [104]. - Shareholders' equity reached CNY 3,363,135,622.82, up from CNY 3,332,493,963.13, indicating an increase of about 0.9% [104]. - The company’s total liabilities and equity reflect a stable financial position, with no significant restrictions on the use of funds reported [199]. Compliance and Risk Management - The company has established a fundraising management approach to ensure the proper use and supervision of raised funds, which will be stored in a designated account for specific projects [62]. - The company will publicly disclose any violations of commitments regarding stock price stabilization and apologize to investors [58]. - The company has committed to ensuring fair and reasonable principles in related party transactions, adhering to relevant laws and regulations [74]. - The company has not reported any significant changes in environmental information during the reporting period [49]. - The company has not disclosed any major related party transactions involving asset acquisitions or sales during the reporting period [79]. Taxation and Financial Benefits - The company benefits from a 15% corporate income tax rate due to its high-tech enterprise certification, valid for three years [197]. - The company’s subsidiary, Huafeng Measurement and Control Technology (Tianjin) Co., Ltd., also enjoys a 15% corporate income tax rate under similar high-tech enterprise certification [197]. - The company is eligible for a VAT refund policy for software products, allowing for a refund of VAT exceeding 3% [196]. - The company’s subsidiary, Huafeng Measurement and Control Technology (Tianjin), benefits from a 5% VAT reduction policy for advanced manufacturing enterprises [196]. - The total amount of cash held overseas is CNY 14,580,135.10, an increase from CNY 5,590,129.15 at the beginning of the period [199].

北京华峰测控技术股份有限公司 一、聚焦经营主业，持续提升经营效率 （一）积极拓展行业市场，加速全球营销网络建设 2024 年上半年，为了更好的服务好海外客户，公司持续加大海外市场拓展 力度。4 月 1 日，日本全资销售和服务公司正式投入运营；6 月 3 日，公司马来 西亚工厂（槟城）正式启用；7 月 12 日，美国子公司在美国加州的硅谷地区正式 开业，能够为北美市场的客户提供更加智能、高效的测试解决方案；7 月 19 日， 公司首台在马来西亚槟城工厂生产制造的测试机 STS8300，在全球半导体封测供 应商友尼森（Unisem）位于马来西亚霹雳州怡宝的工厂完成装机。 2024 年度"提质增效重回报"行动方案的半年度评估报告 为贯彻落实关于开展科创板上市公司"提质增效重回报"专项行动的倡议， 推动上市公司持续优化经营、规范治理和积极回报投资者，深化"投资者为本" 的理念，北京华峰测控技术股份有限公司（以下简称"公司"）于 2024 年 4 月 26 日披露了《北京华峰测控技术股份有限公司 2024 年"提质增效重回报"专项行 动方案》（以下简称"行动方案"）。2024 年上半年，公司根据行动方案内容，积 极开展 ...

证券代码：688200 证券简称：华峰测控 公告编号：2024-038 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。 北京华峰测控技术股份有限公司（以下简称"公司"）于 2024 年 8 月 26 日 召开第三届董事会第六次会议和第三届监事会第六次会议，审议通过了《关于使 用部分超募资金增加募投项目投资额的议案》，同意公司使用超募资金 28,796.14 万元增加募投项目"科研创新项目"的投资金额，保荐机构中国国际 金融股份有限公司对该事项出具了无异议的核查意见。该事项尚需提交股东大会 审议批准。现就相关事宜公告如下： 经中国证券监督管理委员会"证监许可[2020]93 号"文《关于同意北京华峰 测控技术股份有限公司首次公开发行股票注册的批复》的核准，北京华峰测控技 术股份有限公司（以下简称"公司"或"本公司"）采用公开方式发行人民币普 通股（A 股）15,296,297 股，发行价格为每股 107.41 元，共募集资金总额 1,642,975,260.77 元。扣除承销费用后的公司募集资金金额 1,528,613,80 ...

证券代码：688200 证券简称：华峰测控 公告编号：2024-041 北京华峰测控技术股份有限公司 第三届监事会第六次会议决议公告 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。 一、监事会会议召开情况 北京华峰测控技术股份有限公司（以下简称"公司"）第三届监事会第六次 会议于 2024 年 8 月 26 日在公司会议室以现场和通讯方式召开。本次会议应到监 事 3 名，实到监事 3 名。会议由监事会主席赵运坤主持。本次会议的召集和召开 符合《公司法》等法律、法规、部门规章以及《公司章程》的有关规定，作出的 决议合法、有效。 经与会监事认真审议，审议通过了以下议案： （一）《关于公司 2024 年半年度报告及其摘要的议案》 公司《2024 年半年度报告》及其摘要的编制程序符合法律、行政法规和中国 证监会的相关规定，报告内容真实、准确、完整地反映了公司的实际情况，不存 在任何虚假记载、误导性陈述或者重大遗漏。 表决结果：3 票同意，0 票反对，0 票弃权。 具体内容详见公司同日在上海证券交易所网站（www.sse.com.c ...