Financial Projections - The company expects 2024 annual revenue to be between 290 million and 310 million CNY, an increase of 9.2 million to 29.2 million CNY compared to the previous year, representing a growth of 3.28% to 10.40%[4] - The projected net profit attributable to the parent company for 2024 is between 14.49 million and 19.49 million CNY, a decrease of 52.99 million to 57.99 million CNY compared to the previous year, reflecting a decline of 73.12% to 80.01%[4] - The expected net profit attributable to the parent company after deducting non-recurring gains and losses for 2024 is between -6.85 million and -1.85 million CNY, a decrease of 65.84 million to 70.84 million CNY compared to the previous year, indicating a decline of 102.89% to 110.70%[4] Research and Development - The company has increased its R&D investment significantly to maintain its leading position in specialized industries, particularly in low-orbit commercial satellites and next-generation digital array radar[8] - The company has faced short-term pressure on net profit due to increased R&D expenses and slow sales collection from downstream customers[8] Market Participation and Product Development - The company has actively participated in the domestic satellite internet market, leading to an increase in product shipment volume and sales revenue[7] - The company has developed and launched several new products, with some already entering customer preferred catalogs[7] Financial Management and Support - The company has received increased government subsidies and gains from financial asset disposals compared to the previous year[9] - The company has made provisions for inventory impairment based on market conditions and operational management considerations[8] - The company emphasizes the importance of stable and secure supply chains to support sales growth and product delivery rates[7]

● 回购股份金额：回购资金不低于人民币 2,000 万元，不超过人民币 4,000 万 元（含）。 证券代码：688270 证券简称：臻镭科技 公告编号：2025-003 浙江臻镭科技股份有限公司 关于以集中竞价交易方式回购股份的回购报告书 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： ● 回购股份资金来源：公司自有资金。 ● 回购股份用途：本次回购股份将全部用于实施员工持股计划或者股权激励； 若公司未能在股份回购实施结果暨股份变动公告日后三年内转让完毕，尚未转让 的已回购股份将予以注销。如国家对相关政策作出调整，则按调整后的政策实行。 ● 回购股份价格：不超过人民币 38.13 元/股（含），该价格不高于董事会审 议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：自公司董事会审议通过本次回购方案之日起不超过12个月。 ● 相关股东是否存在减持计划：公司董监高、控股股东、实际控制人及一致 行动人、回购股份提议人暂无关于未来 3 个月 ...

证券代码：688270 证券简称：臻镭科技 公告编号：2025-002 浙江臻镭科技股份有限公司 关于以集中竞价交易方式首次回购公司股份的公告 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、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2024/10/25 | | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 个月 12 | | 预计回购金额 | 万元~4,000 万元 2,000 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 累计已回购股数 | 股 89,431 | | 累计已回购股数占总股本比例 | 0.0418% | | 累计已回购金额 | 元 2,834,681 | | 实际回购价格区间 | 元/股~31.8 元/股 31.6 | 一、 回购股份的基本情况 2024 年 10 月 24 日，公司召开第二届董事会第九次会议，审议通过了《关于 审议以集中竞价交易方式回购公司股份方案的议案》，同意公 ...

Investment Rating - The investment rating for the company is "Buy" [8] Core Insights - The domestic low-orbit satellite constellation is entering a new phase of mass networking, with significant developments in both the national and international markets [3] - The company is deeply involved in the construction of domestic low-orbit constellations and is increasing its product support efforts [4] - The company is one of the few in China that can provide comprehensive solutions and technical services in the special industry sector, particularly for low-orbit satellite applications [5] Summary by Sections Low-Orbit Satellite Development - The national satellite constellation, with a total planned deployment of 13,000 satellites, has begun mass launches, with a goal to complete all launches by 2035 [3] - The Qianfan constellation plans to deploy over 15,000 satellites and has already launched 54 satellites, aiming for a total of 108 launches this year [3] Company Performance - In the first three quarters of 2024, the company reported revenue of 182 million yuan, a year-on-year increase of 7.01%, while net profit attributable to shareholders was 14.46 million yuan, a decrease of 63.79% [4] - The company has expanded its product matrix in power management chips and micro-systems, targeting the low-cost commercial satellite market [4] Financial Forecast - The company is expected to achieve net profits of 58 million yuan, 162 million yuan, and 265 million yuan for the years 2024, 2025, and 2026 respectively, with a projected PE ratio of 115x in 2025 [5]

证券代码：688270 证券简称：臻镭科技 公告编号：2024-047 浙江臻镭科技股份有限公司 关于股份回购进展公告 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、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2024/10/25 | | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 12 个月 | | 预计回购金额 | 万元~4,000 万元 2,000 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 累计已回购股数 | 万股 0 | | 累计已回购股数占总股本比例 | 0% | | 累计已回购金额 | 万元 0 | | 实际回购价格区间 | 元/股~0 元/股 0 | 一、 回购股份的基本情况 2024 年 10 月 24 日，公司召开第二届董事会第九次会议，审议通过了《关于 审议以集中竞价交易方式回购公司股份方案的议案》，同意公司使用自有资金以集 中竞价交易方式回购部分公司 A 股股份，并在未来 ...

编号：2024-004 证券代码：688270 证券简称：臻镭科技 浙江臻镭科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | |----------------|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系活动 | □特定对象调研 □分析师会议 | | | 类别 | □媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | √现场参观 | | | | □其他（电话会议） | | | 参与单位名称及 | | 中亿投资、正圆投资、中庚基金、天戈投资、财通自营、汐泰投 | | 人员姓名 | | 资、华泰柏瑞、景和资产、兴全基金、国盛证券、德邦基金、 | | | | 建信基金、中大 ...

重要内容提示： | 回购方案首次披露日 | 2024/10/25 | | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 12 个月 | | 预计回购金额 | 万元~4,000 万元 2,000 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 累计已回购股数 | 万股 0 | | 累计已回购股数占总股本比例 | 0% | | 累计已回购金额 | 万元 0 | | 实际回购价格区间 | 元/股~0 元/股 0 | 一、 回购股份的基本情况 证券代码：688270 证券简称：臻镭科技 公告编号：2024-046 浙江臻镭科技股份有限公司 关于股份回购进展的公告 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、准确性和完整性承担法律责任。 2024 年 10 月 24 日，公司召开第二届董事会第九次会议，审议通过了《关于 审议以集中竞价交易方式回购公司股份方案的议案》，同意公司使用自有资金以集 中竞价交易方式回购部分公司 A 股股份，并在未 ...

Investment Rating - The investment rating for the company is "Buy" with a target price of 33.79 CNY, indicating an expected return of over 10% relative to the CSI 300 index in the next six months [5][20][29]. Core Views - The company has shown stable revenue growth with a 7.01% increase in revenue for the first three quarters of 2024, reaching 182 million CNY. However, the net profit attributable to shareholders decreased by 63.79% to 14 million CNY due to increased competition and rising management costs [5][10]. - The company is focusing on the low-orbit commercial satellite market, with multiple product lines expected to achieve rapid growth in the medium to long term. The development of new products is ongoing, and the company is well-positioned to benefit from the increasing demand in this sector [11][19]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company reported a revenue of 182 million CNY, a 7.01% increase year-on-year. The gross profit was 153 million CNY, remaining stable, while the net profit attributable to shareholders was 14 million CNY, down 63.79% [5][9]. - The company's gross margin was 84.11%, a decrease of 5.58 percentage points, and the net profit margin was 7.93%, down 15.50 percentage points [5][9]. Research and Development - The company maintained a high level of R&D intensity, with total R&D expenses of 95 million CNY for the first three quarters, an increase of 6.57%. However, R&D expenses in Q3 decreased by 26.20% year-on-year [9][10]. - The R&D expenses accounted for 51.86% of revenue, indicating a strong commitment to innovation despite short-term fluctuations in profitability [9][10]. Cash Flow and Inventory Management - The operating cash flow for the first three quarters was -6 million CNY, but it showed significant improvement compared to the previous year, with cash inflows of 204 million CNY, up 20.65% [10]. - The company is actively managing its inventory, with stock levels increasing by 13.41% to 123 million CNY, and accounts payable rising by 98.20% to 66 million CNY, indicating proactive production planning [10]. Market Position and Future Outlook - The company is strategically targeting the low-orbit commercial satellite market, with new product developments in power management chips and RF transceiver chips expected to drive future growth [11][19]. - The anticipated growth in the defense information technology sector and the gradual application of three-dimensional heterogeneous microsystems are expected to further enhance the company's revenue and profit stability [19]. Share Buyback Announcement - The company announced a share buyback plan, reflecting confidence in its long-term business development and aiming to align the interests of executives and core employees with those of shareholders [16].

证券代码：688270 证券简称：臻镭科技 浙江臻镭科技股份有限公司 2024 年第三季度业绩说明会会议纪要 一、说明会基本情况 1、会议召开时间：2024 年 10 月 29 日(星期二) 下午 14:00-15:00 2 、 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 3、会议召开方式：上证路演中心网络互动 4、公司参会人员：董事长郁发新先生，公司董事会秘书兼财务总监李娜女 士，独立董事周守利先生 二、说明会主要内容纪要 公司管理层在信息披露允许的范围内就投资者关注的问题进行了回复，主要 问题及答复整理如下： 1. 公司相关产品在通信卫星上的使用情况如何，单颗卫星使用公司芯片的 价值量在多少？公司是否进入到上海千帆星座产业链？ 答：您好，公司产品在轨运行表现良好；基于商业保密原则，涉及客户应用 场景的问题公司不便于回复，谢谢！ 2. 与去年同期相比，公司传统业务恢复情况如何？ 答：2024 年上半年受下游用户需求计划影响，公司营收及净利润短期承压， 目前下游用户需求已处于逐步恢复状态！ 3. 请 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market [3][4]. Core Insights - The company reported a revenue of 182 million yuan for the first three quarters of 2024, reflecting a year-over-year increase of 7.01%. However, the net profit attributable to the parent company decreased by 63.79% to 14 million yuan during the same period [3][4]. - The company is experiencing stable revenue growth driven by its three main business segments: ADDA, power management chips, and micro-systems and components. The demand from the satellite and radar industries is expected to accelerate, contributing to future revenue increases [3][4]. - The gross margin for the first three quarters of 2024 was 84.11%, down 5.58 percentage points from the previous year, while the net profit margin decreased by 15.50 percentage points to 7.93% due to high operating expenses [3][4]. - The company has a high inventory level of 123 million yuan, which is anticipated to convert into revenue as orders are fulfilled, supporting future performance recovery [3][4]. - The company is positioned as a core supplier in the high-end specialty chip market, with three key growth drivers: increasing demand from downstream industries, superior product performance compared to international standards, and a focus on the commercial low-orbit satellite market [3][4]. Financial Summary - The total revenue for 2024 is projected to be 322 million yuan, with a year-over-year growth rate of 14.7%. The net profit is expected to be 74 million yuan, reflecting a slight increase of 1.6% [4][5]. - The earnings per share (EPS) for 2024 is estimated at 0.34 yuan, with a projected PE ratio of 101 [4][5]. - The company anticipates a significant increase in revenue and net profit by 2026, with projections of 622 million yuan in revenue and 157 million yuan in net profit, representing growth rates of 43.4% and 50.2%, respectively [4][5].