Investment Rating - The report maintains a "Buy" rating for the company [3][5]. Core Views - The company's Q3 2024 performance met expectations, with revenue reaching 337 million yuan, a year-on-year increase of 29.95%, and a net profit attributable to shareholders of -48 million yuan, a reduction in loss of 41.58% [1][2]. - New products are gaining traction, particularly in the pressure product line, which saw a revenue increase of 156.61% year-on-year, driven by the new micro differential pressure sensor products, which experienced a staggering 474.65% growth [2]. - The company's profitability is improving, with the gross margin for Q3 2024 reaching 23.01%, an increase of 10.58 percentage points year-on-year, indicating a positive trend in operational performance [2]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved a revenue of 337 million yuan, with a Q3 revenue of 131 million yuan, reflecting a year-on-year growth of 26.75% [1][2]. - The net profit attributable to shareholders for Q3 2024 was -13 million yuan, a reduction in loss of 55.20% compared to the previous year [1]. Product Development - The company is focusing on new product development, with significant contributions from the micro differential pressure sensors and barometers, which have expanded their market presence [2]. Profitability and Forecast - The report forecasts the company's net profit for 2024-2026 to be -15 million yuan, 15 million yuan, and 37 million yuan respectively, indicating a recovery in profitability as new products enter the growth phase [3].

证券代码：688286 证券简称：敏芯股份 公告编号：2024-064 关于以集中竞价交易方式回购公司股份的进展公告 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 | 2024/2/7 | | --- | --- | | 回购方案实施期限 | 自董事会审议通过之日起 12 个月内 | | 预计回购金额 | 1,500 万元~2,500 万元 | | 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 | 42.5399 万股 | | 累计已回购股数占总股本比例 | 0.7599% | | 累计已回购金额 | 1,599.60 万元 | | 实际回购价格区间 | 29.92 元/股~51.03 元/股 | 一、 回购股份的基本情况 二、 回购股份的进展情况 根据《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关法 律法规及规范性文件的规定，公司在回购股份期间，应于每个月的前 3 ...

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook for future performance [2][4]. Core Insights - The company reported a total revenue of 337 million yuan for the first three quarters of 2024, representing a year-on-year increase of 29.95%. The net profit attributable to shareholders was a loss of 48 million yuan, while the net profit excluding non-recurring items was a loss of 44 million yuan. In Q3 alone, the revenue reached 131 million yuan, up 26.75% year-on-year and 11.52% quarter-on-quarter, marking a historical high for quarterly revenue [2][3]. - The company has seen a steady increase in revenue, with a significant narrowing of net losses. The Q3 gross margin was 23.01%, a notable increase of 10.58 percentage points year-on-year and 2.06 percentage points quarter-on-quarter, indicating a clear recovery trend [2][3]. - The company is actively launching new products and expanding into new markets. The pressure product line saw a revenue increase of 156.61% year-on-year, driven by the introduction of new micro-differential pressure sensor products, which experienced a staggering revenue growth of 474.65% year-on-year [2][3]. - The company emphasizes research and development, with R&D expenditures reaching 58 million yuan in the first three quarters of 2024, the highest in its history. This investment supports the development of new products and technologies, contributing to rapid growth in new market segments [2][3]. Financial Summary - The projected revenues for the company are 504 million yuan, 671 million yuan, and 911 million yuan for 2024, 2025, and 2026, respectively, with growth rates of 35.3%, 33.0%, and 35.9% [3][5]. - The net profit attributable to shareholders is expected to improve significantly, with projections of a loss of 24 million yuan in 2024, a profit of 55 million yuan in 2025, and 104 million yuan in 2026, reflecting growth rates of 76.8%, 333.5%, and 88.5% [3][5]. - The company is positioned as one of the few domestic firms with independent R&D capabilities across the MEMS sensor chip design, manufacturing, and testing processes, indicating strong potential for sustained revenue growth in the coming years [2][4].

证券代码：688286 证券简称：敏芯股份 公告编号：2024-062 苏州敏芯微电子技术股份有限公司 第四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 苏州敏芯微电子技术股份有限公司（以下简称"公司"）第四届监事会第二 次会议于 2024 年 10 月 30 日在公司会议室召开。本次会议的通知于 2024 年 10 月 25 日通过电子邮件方式送达全体监事。本次会议应参加监事 3 名，实际参加 监事 3 名，会议由监事会主席李燕女士主持，本次会议的召集、召开方式符合 《公司法》和《公司章程》的规定。 二、监事会会议审议情况 1、审议并通过《关于<公司 2024 年第三季度报告>的议案》 监事会认为：公司《2024 年第三季度报告》的编制和审议程序符合有关法律 法规以及《公司章程》的规定；公司《2024 年第三季度报告》的内容与格式符合 中国证监会和上海证券交易所的有关规定，真实、准确、完整地反映了公司 2024 年前三季度的财务状况和经营成果等事项；在提出本意见前，未 ...

1 二、计提资产减值准备事项的具体说明 证券代码：688286 证券简称：敏芯股份 公告编号：2024-061 苏州敏芯微电子技术股份有限公司 关于 2024 年前三季度计提资产减值准备的公告 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、准确性和完整性依法承担法律责任。 苏州敏芯微电子技术股份有限公司（以下简称"公司"）于 2024 年 10 月 30 日召开第四届董事会第二次会议、第四届监事会第二次会议，审议通过了《关 于 2024 年前三季度计提资产减值准备的议案》，本议案无需提交公司股东大会 审议。现将相关情况公告如下： 一、计提资产减值准备情况概述 根据《企业会计准则》以及公司会计政策、会计估计的相关规定，为了真实、 准确地反映公司截至 2024 年 9 月 30 日的财务状况，本着谨慎性原则，公司对截 至 2024 年 9 月 30 日公司及下属子公司的资产进行了减值测试，对可能发生资产 减值损失的相关资产计提减值准备。2024 年前三季度确认的资产减值损失 14,061,848.06 元，具体情况如下表： | 序号 | | 项目 | 年前三 ...

Revenue Performance - In the first three quarters of 2024, the company achieved operating revenue of CNY 336.65 million, a year-on-year increase of 29.95%[2] - In Q3 2024, the company reported operating revenue of CNY 131.00 million, a year-on-year increase of 26.75% and a quarter-on-quarter increase of 11.52%[6] - The revenue from the pressure product line increased by 156.61% year-on-year, driven by the contribution of new micro differential pressure sensor products, which saw a revenue increase of 474.65% year-on-year[2] - Operating revenue for the current reporting period increased by 26.75%, driven by successful market expansion of new products and a recovery in the end market, resulting in a significant increase in sales volume[9] - Year-to-date operating revenue increased by 29.95%, attributed to the successful market expansion of new products and a recovery in the end market, leading to a notable increase in sales volume[9] - The company’s sales revenue from operating activities was CNY 377.18 million in the first nine months of 2024, up from CNY 303.04 million in the same period of 2023, an increase of 24.4%[20] Profitability and Loss - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was a loss of CNY 7.12 million, narrowing the loss by CNY 24.38 million year-on-year[6] - Net loss attributable to shareholders of the listed company decreased by 15.93 million RMB in the current reporting period, primarily due to increased operating revenue and an overall improvement in product gross margin[9] - Year-to-date net loss attributable to shareholders of the listed company decreased by 34.23 million RMB, mainly due to increased operating revenue and improved product gross margin[9] - Net profit for Q3 2024 was a loss of CNY 48.97 million, compared to a loss of CNY 83.25 million in Q3 2023, showing an improvement of 41.2%[19] - Total comprehensive loss for Q3 2024 was CNY -48.97 million, compared to CNY -83.25 million in Q3 2023, reflecting a reduction of 41.2%[20] Research and Development - The company's R&D investment reached CNY 58.33 million in the first three quarters, with a quarterly R&D expenditure of CNY 19.11 million, marking a historical high[3] - The proportion of R&D investment to operating revenue was 14.59%, a decrease of 4.91 percentage points compared to the same period last year[6] - Research and development expenses for Q3 2024 were CNY 58.33 million, slightly up from CNY 57.86 million in Q3 2023, indicating a year-over-year increase of 0.8%[19] - The company continues to focus on technological innovation and the development of new products and technologies to enhance its market position[3] Financial Position - The total assets at the end of the reporting period were CNY 1.19 billion, a decrease of 2.86% compared to the end of the previous year[6] - Current assets decreased to ¥577,126,203.26 as of September 30, 2024, down from ¥660,541,756.01 at the end of 2023, representing a decline of 12.6%[16] - Non-current assets totaled ¥613,288,627.05, an increase of 8.5% from ¥564,982,174.41 at the end of 2023[17] - The company's total assets decreased to ¥1,190,414,830.31 from ¥1,225,523,930.42, reflecting a decline of 2.9%[18] - The total equity attributable to shareholders decreased to ¥1,013,130,425.89 from ¥1,068,689,813.22, a decline of 5.2%[18] Cash Flow - Net cash flow from operating activities year-to-date showed a net outflow increase of 51.63 million RMB, primarily due to increased inventory purchases associated with expanded sales scale[9] - The company reported a net cash outflow from operating activities of CNY -74.20 million in Q3 2024, worsening from CNY -22.57 million in Q3 2023[21] - Cash inflow from investment activities was CNY 334.11 million in Q3 2024, down from CNY 461.32 million in Q3 2023, a decrease of 27.6%[21] - The company recorded a net cash outflow from investment activities of CNY -47.99 million in Q3 2024, compared to CNY -60.70 million in Q3 2023, showing an improvement of 21.0%[21] - The net cash flow from financing activities was -6,643,561.59 CNY, a decrease compared to 20,064,969.23 CNY in the previous period[23] - The total cash and cash equivalents at the end of the period were 100,611,077.32 CNY, down from 187,189,978.76 CNY at the end of the previous period[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,182[10] - The largest shareholder, Li Gang, holds 19.20% of the shares[11] - The company has not identified any related party relationships or concerted actions among the other shareholders[12] - As of September 30, 2024, the company has repurchased a total of 424,720 shares, accounting for 0.7588% of the total share capital, with a total payment of approximately 15.96 million RMB[14] - The company plans to repurchase shares using its own funds, with a total repurchase amount not less than 15 million RMB and not exceeding 25 million RMB, at a price not exceeding 82.80 RMB per share[13]

经与会董事认真审议，形成如下决议： （一）审议并通过《关于<公司 2024 年第三季度报告>的议案》 公司已按照企业会计准则和上海证券交易所的有关规定编制了《2024 年第 三季度报告》，在所有重大方面公允地反映了公司 2024 年前三季度的财务状况 和经营成果。 证券代码：688286 证券简称：敏芯股份 公告编号：2024-063 苏州敏芯微电子技术股份有限公司 第四届董事会第二次会议决议公告 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、准确性和完整性依法承担法律责任。 一、董事会会议召开情况： 苏州敏芯微电子技术股份有限公司（以下简称"公司"）第四届董事会第 二次会议通知已于 2024 年 10 月 25 日以邮件形式发出，会议于 2024 年 10 月 30 日以现场与通讯表决相结合的方式召开。本次会议由董事长李刚先生主持，应 到董事 7 名，实到董事 7 名，符合《公司法》和《公司章程》等有关法律法规 规定，表决形成的决议合法、有效。 二、董事会会议审议情况： 表决结果：7 票同意，0 票反对，0 票弃权。 此议案已经董事会审计委员会审议通过 ...

上海方本律师事务所 关于苏州敏芯微电子技术股份有限公司 2024 年第一次临时股东大会的 法律意见书 FANGBEN LAW OFFICE 方本津師事務所 1 上海方本律师事务所 关于苏州敏芯微电子技术股份有限公司 2024 年第一次临时股东大会的 法律意见书 致:苏州敏芯微电子技术股份有限公司 上海方本律师事务所(以下简称"本所")接受苏州敏芯微电子技术股份有 限公司(以下简称"敏芯股份"或"公司")的委托,指派本所律师出席公司于 2024 年 10 月 16 日召开的 2024 年第一次临时股东大会〈以下简称" 本次股东大 会"),并根据《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》")和《上市公司股东大会规则》(以下简称 "《股东大会规则》")等有关法律、法规和规范性文件以及《苏州敏芯微电子技 术股份有限公司章程》(以下简称"《公司章程》")的规定和要求,按照律师行业 公认的业务标准、道德规范和勤勉尽责精神,出具本法律意见书。 2 一、本次股东大会召集、召开的程序 (一)经本所律师查验,敏芯股份本次股东大会由董事会提议并召集,召开 本次股东大会的通知 ...

证券代码：688286 证券简称：敏芯股份 公告编号：2024-058 苏州敏芯微电子技术股份有限公司 关于选举第四届监事会职工代表监事的公告 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、准确性和完整性依法承担法律责任。 苏州敏芯微电子技术股份有限公司（以下简称"公司"）第三届监事会任期 已经届满，根据《中华人民共和国公司法》、《苏州敏芯微电子技术股份有限公司 公司章程》、《监事会议事规则》等有关规定，公司于 2024 年 10 月 16 日召开职 工代表大会，会议的召开及表决程序符合职工代表大会决策的有关规定，会议经 民主讨论、表决，全体职工代表一致审议通过了《关于选举第四届监事会职工代 表监事的议案》，同意选举李燕女士（简历详见附件）为公司第四届监事会职工 代表监事。 根据《公司章程》的规定，公司监事会由三名监事组成，其中两名非职工代 表监事由公司股东大会选举产生，一名职工代表监事由公司职工通过职工代表大 会民主选举产生。本次职工代表大会选举产生的职工代表监事，将与公司股东大 会选举产生的非职工代表监事共同组成公司第四届监事会，任期与公司第四届监 ...

证券代码：688286 证券简称：敏芯股份 公告编号：2024-057 苏州敏芯微电子技术股份有限公司 关于完成董事会、监事会换届选举及聘任高级管理人 员的公告 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、准确性和完整性依法承担法律责任。 苏州敏芯微电子技术股份有限公司（以下简称"公司"）于 2024 年 10 月 16 日召开了 2024 年第一次临时股东大会，选举产生了公司第四届董事会和第四届 监事会非职工代表监事。同日，公司召开了职工代表大会，选举产生了第四届监 事会职工代表监事。公司第四届董事会、监事会任期自股东大会审议通过之日起 三年。 同日，经全体董事、监事一致同意豁免提前发出会议通知的期限，公司召开 了第四届董事会第一次会议，选举产生了第四届董事会董事长、董事会专门委员 会委员及召集人，聘任了高级管理人员；公司召开了第四届监事会第一次会议， 选举产生了第四届监事会主席。现将相关情况公告如下： 一、 公司第四届董事会及专门委员会组成情况 （一）董事会选举情况 公司于 2024 年 10 月 16 日召开了 2024 年第一次临时股东大会，选 ...