思特威-W（688213.SH）2023年年报&2024年一季报点评 高端手机 CIS 开辟第二增长曲线 2024年04月29日 ➢ 事件：思特威4月26日晚发布2023年年报和2024年一季报，2023年， 推荐 维持评级 公司实现收入28.57亿元（YoY+15.08%），归母净利润0.14亿元（同比扭亏）， 当前价格： 49.08元 扣非归母净利润 60.74 万元（同比扭亏）。对于 4Q23 单季度，公司实现收入 10.84 亿元（YoY+30.9%，QoQ+54.89%），创单季收入历史新高，归母净利 [Table_Author] 润0.8亿元（同比扭亏，QoQ+9120.14%），扣非归母净利润0.61亿元（同比 扭亏，QoQ+1386.38%）。 2024年Q1，公司实现收入8.37亿元（YoY+84.31%，QoQ-22.78%），为单 季历史次高水平，归母净利润0.14亿元（同比扭亏，QoQ-82.4%），扣非归母 净利润0.2亿元（同比扭亏，QoQ-67.61%）。 ➢ “安防+手机+汽车”三箭齐发，产品矩阵持续完善。2023年公司坚持“智 分析师 方竞 慧安防+智能手机+汽车电子”三足鼎 ...

Financial Performance - The company's operating revenue for Q1 2024 reached ¥837,395,711.35, representing an increase of 84.31% compared to the same period last year[4]. - Net profit attributable to shareholders was ¥14,026,121.38, while the net profit excluding non-recurring gains and losses was ¥19,606,289.23[4]. - Total operating revenue for Q1 2024 reached 837,395,711.35 RMB, a significant increase from 454,337,875.07 RMB in Q1 2023, representing an increase of approximately 84.3%[19]. - Net profit for Q1 2024 was 14,026,121.38 RMB, a turnaround from a net loss of 25,680,896.45 RMB in Q1 2023[21]. - Total comprehensive income for Q1 2024 was CNY 14,882,201.17, compared to CNY -31,182,476.57 in Q1 2023, indicating a recovery in overall financial performance[22]. - Basic and diluted earnings per share for Q1 2024 were CNY 0.04, compared to CNY -0.06 in Q1 2023, showing an improvement in profitability[22]. Cash Flow and Assets - The net cash flow from operating activities was -¥380,940,847.77, a decrease of 198.67% year-on-year, primarily due to a significant increase in advance payments[9]. - Net cash flow from operating activities for Q1 2024 was CNY -380,940,847.77, compared to CNY 386,068,113.81 in Q1 2023, indicating a decline in cash flow[23]. - Cash and cash equivalents were reported at CNY 807,527,852.50, up from CNY 717,581,786.20, representing a growth of approximately 12.5%[15]. - Cash and cash equivalents at the end of Q1 2024 totaled CNY 784,827,452.50, up from CNY 720,069,482.34 at the end of Q1 2023, reflecting an increase of approximately 8.9%[24]. - The net cash inflow from financing activities in Q1 2024 was CNY 649,370,470.56, a turnaround from a net outflow of CNY -245,647,225.51 in Q1 2023[24]. - The company reported a decrease in cash outflow for operating activities, totaling CNY 1,678,927,252.16 in Q1 2024, compared to CNY 284,359,661.19 in Q1 2023[23]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥6,864,953,790.99, reflecting an increase of 11.70% from the end of the previous year[5]. - Total liabilities as of Q1 2024 amounted to 3,077,178,081.01 RMB, up from 2,404,795,552.29 RMB in the previous year, indicating an increase of about 28%[18]. - The total assets of the company as of Q1 2024 were 6,864,953,790.99 RMB, compared to 6,145,747,448.32 RMB in Q1 2023, indicating an increase of about 11.7%[18]. - The total current assets reached CNY 5,320,162,174.08, compared to CNY 4,646,405,728.59 at the end of 2023, indicating an increase of about 14.5%[16]. - The company’s non-current assets totaled CNY 1,544,791,616.91, slightly increasing from CNY 1,499,341,719.73, reflecting a growth of about 3%[16]. Shareholder Information - The company reported a total of 29,543,603 shares held by Huaxin Investment Management Co., Ltd., making it the largest shareholder[12]. - The top ten unrestricted shareholders collectively hold significant stakes, with the largest being Huaxin Investment at 29,543,603 shares, accounting for a substantial portion of the total shares[12]. Research and Development - The company's R&D investment totaled ¥89,838,262.30, accounting for 10.73% of operating revenue, a decrease of 5.72 percentage points year-on-year[5]. - Research and development expenses increased to 89,838,262.30 RMB in Q1 2024 from 74,732,509.47 RMB in Q1 2023, marking a rise of approximately 20.2%[21]. Operational Insights - The company successfully opened a second growth curve in the smartphone sector, enhancing market share through improved product performance and competitiveness[8]. - The company has not reported any significant changes in its operational strategies or new product developments during the reporting period[14]. - The company has not disclosed any new mergers or acquisitions in the recent quarter[14]. - The company’s management team remains optimistic about future growth and market expansion strategies moving forward[25].

思特威（上海）电子科技股份有限公司 第二届监事会第二次会议决议公告 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 证券代码：688213 证券简称：思特威 公告编号：2024-007 思特威（上海）电子科技股份有限公司（以下简称"公司"）第二届监事会 第二次会议于 2024 年 4 月 26 日在公司会议室现场结合通讯表决方式召开。会议 通知已于 2024 年 4 月 16 日以通讯方式发出。会议应出席监事 3 名，实际出席监 事 3 名。本次会议由监事会主席胡文阁召集并主持，公司全体监事出席了会议。 本次会议的召开符合《中华人民共和国公司法》等相关法律、行政法规、部门规 章、规范性文件和《思特威（上海）电子科技股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，本次会议合法有效。 二、监事会会议审议情况 全体监事以投票表决方式通过了以下决议： （一）审议通过《关于<2023 年度监事会工作报告>的议案》 经审核，监事会认为 2023 年公司监事会本着对全体股东负责的态度，认真 地履行了监 ...

思特威（上海）电子科技股份有限公司 已审财务报表 2023年度 思特威（上海）电子科技股份有限公司 目 录 | | | 页 次 | | | --- | --- | --- | --- | | 审计报告 | 1 - | 6 | | | 已审财务报表 | | | | | 合并资产负债表 | 7 - | 8 | | | 合并利润表 | 9 - | 10 | | | 合并股东权益变动表 | 11 | | | | 合并现金流量表 | 12 - | 13 | | | 公司资产负债表 | 14 - | 15 | | | 公司利润表 | 16 | | | | 公司股东权益变动表 | 17 | | | | 公司现金流量表 | 18 - | 19 | | | 财务报表附注 | 20 - | | 93 | | 补充资料 | | | | | 非经常性损益明细表 1. | | 1 | | | 2. 净资产收益率和每股收益 | | 1 | | 审计报告 安永华明（2024）审字第70044970_B01号 思特威（上海）电子科技股份有限公司 思特威（上海）电子科技股份有限公司全体股东： 一、审计意见 我们审计了思特威（上海）电子科技股份 ...

思特威（上海）电子科技股份有限公司 内部控制审计报告 2023年度 内部控制审计报告 安永华明（2024）专字第 70044970_B01 号 思特威（上海）电子科技股份有限公司 思特威（上海）电子科技股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了思特威（上海）电子科技股份有限公司 2023 年 12 月 31 日的财务报告 内部控制的有效性。 一、企业对内部控制的责任 A member firm of Ernst & Young Global Limited 内部控制审计报告（续） 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制 评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是思特威（上 海）电子科技股份有限公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表 审计意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于 情况的变化可能导致内部控制变得不恰当，或对控制政 ...

Dividend Distribution - The company plans to distribute a cash dividend of 0.165 RMB per share, totaling approximately 65.91 million RMB, which represents 463.67% of the net profit attributable to shareholders for the year 2023[6]. - The company has a cash dividend policy that mandates a minimum of 10% of the distributable profit to be distributed as cash dividends if the net profit is positive[160]. - The total cash dividend amount, including share repurchases, is approximately 95.92 million RMB, which is 674.75% of the net profit attributable to shareholders[164]. Share Capital and Ownership - As of December 31, 2023, the total share capital of the company is 40.01 million shares, with 536,872 shares held in the repurchase account[6]. - The actual controller, Xu Chen, holds 13.71% of the company's shares directly, while controlling 48.15% of the voting rights through special voting rights arrangements[8]. - The company has set up a special voting rights arrangement, where each A-class share held by the actual controller has five times the voting power of B-class shares[8]. - After the share repurchase, the proportion of special voting rights will increase accordingly, with the chairman holding 73,588 special voting shares converted to ordinary shares, maintaining the same voting rights ratio[125]. - The chairman, Xu Chen, holds a total of 273,847,863 voting rights, representing 44.28% of the total voting rights[124]. Financial Performance - The company's operating revenue for 2023 was approximately CNY 2.86 billion, representing a year-on-year increase of 15.08% compared to CNY 2.48 billion in 2022[21]. - The net profit attributable to shareholders for 2023 was CNY 14.22 million, a significant recovery from a net loss of CNY 82.75 million in 2022[21]. - The net cash flow from operating activities for 2023 was CNY 767.01 million, a substantial improvement from a negative cash flow of CNY 1.52 billion in 2022[22]. - The company's total assets at the end of 2023 were approximately CNY 6.15 billion, reflecting a 1.52% increase from CNY 6.05 billion at the end of 2022[22]. - The company's net assets attributable to shareholders increased slightly to CNY 3.74 billion, up 0.25% from CNY 3.73 billion in 2022[22]. Research and Development - Research and development expenses accounted for 10.01% of operating revenue in 2023, a decrease of 2.36 percentage points from 12.37% in 2022[23]. - The company achieved a total R&D investment of ¥286,154,565.86 in the reporting period, a decrease of 6.87% compared to the previous year[52]. - The company applied for 169 new intellectual property projects during the reporting period, including 89 invention patents, and received authorization for 116 projects[50]. - The company has developed several core technologies for CMOS image sensors, with advancements including the mass production of SFCPixel® technology and the third-generation NIR+ technology entering pilot testing[46]. - The company is focusing on expanding its market presence through new product developments and technological advancements in the imaging sensor field[48]. Market Performance and Strategy - The company plans to continue focusing on product development and market expansion in smart security, smartphones, and automotive electronics[23]. - The company maintained a 33.3% market share in the global security CIS market in 2022, ranking first in global shipments for the third consecutive year[33]. - The smartphone CIS segment generated revenue of 891.79 million yuan in 2023, a 50.40% increase year-on-year, representing 31.21% of total revenue[37]. - The automotive electronics sector achieved sales of 294.22 million yuan in 2023, a 30.45% increase year-on-year, accounting for 10.30% of total revenue[39]. - The company is currently developing the AI smart sensor platform, which is expected to enhance product offerings in the imaging sector[48]. Risk Management - The company has disclosed various risks it may face in the "Management Discussion and Analysis" section of the report[4]. - The company emphasizes the importance of investment risk awareness in its forward-looking statements[9]. - The company faces risks related to inventory valuation as business scales up, which could lead to increased inventory write-downs if market conditions change[67]. - The company is exposed to foreign exchange risks due to overseas sales and purchases, which could impact financial performance if currency fluctuations occur[67]. - The company has implemented risk control measures for foreign exchange derivative trading, including avoiding speculative trading[102]. Corporate Governance - The company has established a system to protect minority shareholders' rights, including the appointment of three independent directors with special powers to supervise major transactions[127]. - The company has implemented strict information disclosure management to ensure compliance with legal obligations and protect investor interests[127]. - The company has established various internal control systems to prevent management from harming the interests of the company and public investors[127]. - The company has a robust governance structure to protect the rights of shareholders and creditors, ensuring compliance with relevant laws and regulations[186]. - The company emphasizes quality control across multiple stages of product development to ensure compliance with industry standards[190]. Social Responsibility and Sustainability - The company is committed to building an international talent cultivation system to enhance the professional skills and project management capabilities of its R&D team[118]. - The company invested 1.77 million CNY in environmental protection during the reporting period[176]. - The company is not classified as a key pollutant discharge unit and has not faced any administrative penalties for environmental issues[178][179]. - The company has implemented measures for low-carbon development, such as using electronic manuals and recycling paper trays[181]. - The company actively engages in social responsibility initiatives, including rural revitalization and educational support[183].

思特威（上海）电子科技股份有限公司 关于安永华明会计师事务所（特殊普通合伙） 2023 年履职情况评估报告 思特威（上海）电子科技股份有限公司有限公司（以下简称"公司"）聘请 安永华明会计师事务所（特殊普通合伙）（以下简称"安永华明"）作为公司 2023 年度财务报告出具审计报告的会计师事务所。 根据财政部、国务院国有资产监督管理委员会、中国证券监督管理委员会颁 布的《国有企业、上市公司选聘会计师事务所管理办法》，公司对安永华明会计 师事务所（特殊普通合伙）在 2023 年度的审计工作的履职情况进行了评估。具 体情况如下： 2、风险承担能力水平 安永华明具有良好的投资者保护能力，已按照相关法律法规要求计提职业风 险基金和购买职业保险，保险涵盖北京总所和全部分所。已计提的职业风险基金 和已购买的职业保险累计赔偿限额之和超过人民币 2 亿元。安永华明近三年不存 在任何因与执业行为相关的民事诉讼而需承担民事责任的情况。 3、执业记录 安永华明及从业人员近三年没有因执业行为受到任何刑事处罚、行政处罚， 以及行业协会等自律组织的自律监管措施和纪律处分。曾两次收到证券监督管理 机构出具警示函措施的决定，涉及从业人员十三人 ...

思特威（上海）电子科技股份有限公司 一、独立董事的基本情况 （一）独立董事人员情况 公司董事会由 9 名董事组成，其中独立董事 3 人，分别为施海娜女士、许军 先生、高富平先生，占董事会人数三分之一，符合相关法律法规及公司制度的规 定。 （二）个人工作履历、专业背景以及兼职情况 本人许军于 1963 年出生，中国国籍，无境外永久居留权，计算机器件与设 备专业，航天工业部 771 研究所博士学历。1994 年至今，担任清华大学教授；2022 年 1 月至今，任中国国际科技促进会的副会长；2022 年 1 月至今，任江苏鑫华半 导体科技股份有限公司的独立董事；2020 年 12 月至今，任公司独立董事。 （三）是否存在影响独立性的情况说明 作为公司的独立董事，本人许军未在公司或其附属企业担任除公司独立董事 及董事会薪酬与考核委员会委员、提名委员会委员以外的任何职务，也未在公司 主要股东处担任任何职务；本人直系亲属、主要社会关系均未在公司或其附属企 业担任任何职务，也未在公司主要股东处担任任何职务，与公司以及公司主要股 东之间不存在妨碍本人进行独立客观判断的关系，不存在影响独立董事独立性的 情况。 2023 年度独 ...

思特威（上海）电子科技股份有限公司 2023 年度独立董事述职报告 一、独立董事的基本情况 （一）独立董事人员情况 公司董事会由 9 名董事组成，其中独立董事 3 人，分别为施海娜女士、许军 先生、高富平先生，占董事会人数三分之一，符合相关法律法规及公司制度的规 定。 二、独立董事年度履职概况 （一）出席董事会及股东大会情况 2023 年，公司共召开 5 次董事会会议和 3 次股东大会。作为独立董事，本人 在审议提交董事会的相关事项尤其是重大事项时，与公司及相关方保持密切沟通 ，细致研读相关资料，认真审议每项议案，充分利用自身专业知识，结合公司运 营实际，客观、独立、审慎地行使独立董事权力，以此保障公司董事会的科学决 策。2023 年，公司独立董事不存在无故缺席、连续两次不亲自出席会议的情况。 2023 年，本人出席公司董事会会议和股东大会的具体情况如下： 本人施海娜作为思特威（上海）电子科技股份有限公司（以下简称"公司" ）的独立董事，2023 年度，本人严格按照《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》"）、 《上市公司独立董事管理办法》（以下简称 ...

中信建投证券股份有限公司 关于思特威（上海）电子科技股份有限公司 2023 年度持续督导现场检查报告 上海证券交易所： 中信建投证券股份有限公司（以下简称"保荐机构"）作为思特威（上海） 电子科技股份有限公司（以下简称"思特威"或"公司"）首次公开发行股票项 目的保荐机构，根据《证券发行上市保荐业务管理办法》（以下简称"《保荐办法》"） 以及《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等相关法 规规定，担任思特威首次公开发行股票项目持续督导的保荐机构，于 2024 年 2 月 5 日以及 2024 年 4 月 23 日对公司开展了 2023 年度持续督导现场检查。现将 本次现场检查情况报告如下： 一、本次现场检查的基本情况 保荐机构于 2024 年 2 月 5 日以及 2024 年 4 月 23 日对思特威进行了现场检 查。现场检查人员为保荐代表人李重阳等。 在现场检查过程中，保荐机构结合思特威的实际情况，查阅、收集了思特威 有关文件、资料，与公司管理人员及相关员工进行了访谈，实施了包括审核、查 证、询问等必要程序，检查了公司治理和内部控制、信息披露、公司的独立性以 及与控股股东及其他关联方 ...