证券代码：688313 证券简称：仕佳光子 公告编号：2025-007 河南仕佳光子科技股份有限公司 关于产业基金签署框架协议的自愿性披露公告 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。 重要提示： 1、河南泓淇光电子产业基金合伙企业（有限合伙）（以下简称"泓淇光电"） 与深圳市致尚科技股份有限公司（以下简称"致尚科技"）签署《股权转让框架 协议》，拟以现金对价暂定 32,595 万元人民币的价格购买致尚科技持有的控股 子公司东莞福可喜玛通讯科技有限公司（以下简称"福可喜玛"或"标的公司"） 53%的股权。 2、本次签署的《股权转让框架协议》属于双方意向性约定，具体交易方案 及交易条款以双方后续签署的具体协议为准，最终交易价格以具有证券期货相关 从业资格的评估机构出具的评估价值作为定价参考依据，由双方在正式股权转让 交易文件中确定。双方签署正式协议前，尚需履行相关会议审议程序。 3、河南仕佳光子科技股份有限公司（以下简称"公司"）通过泓淇光电基 金，间接投资福可喜玛，有利于公司保持 MT 插芯持续供货的稳定性，构建完善 的 ...

Core Viewpoint - The stock of Shijia Photon (688313) experienced a significant decline of 16.68% on January 27, closing at 19.38 yuan, marking it as the only stock on the list for that day due to a drop exceeding 15% [1] Trading Activity - The total trading volume for Shijia Photon on January 27 was 11.21 billion yuan, with a turnover rate of 12.02% and a price fluctuation of 13.75% [1] - The top five trading departments accounted for a total transaction of 4.34 billion yuan, with buying transactions amounting to 1.57 billion yuan and selling transactions totaling 2.78 billion yuan, resulting in a net sell of 1.21 billion yuan [1] Institutional Participation - Among the top five buying departments, one institutional special seat was present, with a purchase amount of 21.29 million yuan, while the largest buying department through the Shanghai-Hong Kong Stock Connect bought 50.80 million yuan [1] - In the selling departments, two institutional special seats were noted, with selling amounts of 77.07 million yuan and 44.46 million yuan, and the second largest selling department through the Shanghai-Hong Kong Stock Connect sold 72.93 million yuan [1] - Overall, institutional special seats had a net sell of 100 million yuan, while the Shanghai-Hong Kong Stock Connect recorded a net sell of 22.13 million yuan [1] Capital Flow - The stock saw a net outflow of main funds amounting to 18.01 million yuan throughout the day [1]

证券代码：688313 证券简称：仕佳光子 公告编号：2025-006 河南仕佳光子科技股份有限公司 关于 CW DFB 激光器研发进展的自愿性披露公告 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。 验证，但目前尚未在客户端完成全部测试工作，同时，该款芯片未来的市场需求、 市场拓展及竞争情况尚具有不确定性。 针对光交换、光计算等算力应用的硅光需求越来越受到业界关注，其中外置 高功率的连续波分布反馈激光器 CW DFB 光源是硅光实现完整功能的关键配套 芯片。 公司最新开发的 CW DFB 激光器产品在 50℃下实现功率大于 1000 毫瓦的 突破，相关产品已送客户端验证。目前，公司的 CW DFB 激光器芯片产品已经 形成了 75mW、100mW、200mW、500mW、850mW、1000mW 等相对全面的产 品序列。 二、对公司的影响 公司 CW DFB 激光器系列产品已完成性能和部分产品可靠性内部测试工作， 内部测试未发现异常，公司将继续推进芯片功能、可靠性的进一步完善。该产品 已形成一定量产和小批量对外销售，短期内不 ...

Revenue Expectations - The company expects to achieve an operating revenue of approximately 1,074.20 million yuan for the year 2024, representing an increase of about 319.61 million yuan or 42.36% compared to the previous year[4]. - The previous year's operating revenue was 754.59 million yuan[5]. - The increase in operating revenue is driven by the demand for AI computing power and rapid growth in the data communication market, with significant order growth in AWG series, DFB series, MPO-related products, indoor optical cables, and polymer materials[6]. Profit Projections - The net profit attributable to shareholders of the listed company is expected to be around 65 million yuan for 2024, an increase of approximately 112.55 million yuan, marking a turnaround from a loss to a profit[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be about 48.10 million yuan, an increase of approximately 114.92 million yuan, also indicating a turnaround from a loss to a profit[4]. - The previous year's net profit attributable to shareholders was -47.55 million yuan[5]. - The improvement in net profit is primarily due to the increase in operating revenue, enhanced operational control, cost reduction efforts, and improved product yield and competitiveness[6]. Financial Reporting - The performance forecast is based on preliminary calculations by the finance department and has not been audited by registered accountants[7]. - Investors are advised to note that the forecast data is preliminary and the accurate financial data will be disclosed in the official 2024 annual report[8].

Summary of Conference Call Notes Company and Industry Overview - The conference call discusses a company involved in the optical communication industry, specifically focusing on silicon-based optical chips and related technologies. The company has a history dating back to 2010 and has made significant advancements in optical chip technology, particularly in the context of the growing demand for high-capacity data transmission solutions. Key Points and Arguments 1. **Market Trends and Technology Advancements** - The company anticipates a shift towards 1.6T and 1.4T optical technologies by 2024, with significant market adoption expected by 2025, particularly in the context of optical waveguide solutions [1][2][3] - The transition from traditional EMR and VIX solutions to optical solutions is highlighted as a critical trend, with the potential for substantial market penetration [2] 2. **Product Development and Innovation** - The company has developed a range of products, including AWG (Arrayed Waveguide Grating) chips, which are expected to drive growth in the upcoming quarters [12][13] - The introduction of high-capacity optical chips, including those capable of supporting 48 channels, positions the company as a leader in the high-end optical chip market [7] 3. **Financial Performance and Projections** - The company experienced a significant performance peak in Q3 2022, with a notable recovery expected in 2024, driven by increased demand for AWG and optical connectors [11][12][31] - Projections for 2024 indicate a potential revenue increase of 50%, with long-term forecasts suggesting revenues could exceed 1.8 billion by 2026 [38] 4. **Strategic Positioning and Market Opportunities** - The company is positioned to capitalize on the growing demand for high-speed data transmission in telecommunications, particularly as the industry shifts towards more integrated optical solutions [35][39] - The strategic focus on platform development and product diversification is seen as a key driver for future growth [5][6][32] 5. **Challenges and Risks** - The company acknowledges potential challenges related to market demand fluctuations, particularly in North America, and the need for continuous innovation to meet evolving customer requirements [39][40] Additional Important Content - The company has a strong historical foundation in optical chip technology, with significant milestones achieved since its inception, including the development of PRC chips and DWDM AWG technology [7][8] - The conference call emphasizes the importance of a robust R&D strategy, with ongoing investments in product development to maintain competitive advantages in the optical communication market [33][34] - The geographical context of the company's operations, particularly its location in Hebei, is noted as beneficial due to local government support for high-tech enterprises [14][15] This summary encapsulates the key insights from the conference call, highlighting the company's strategic direction, market positioning, and anticipated growth trajectory within the optical communication industry.

Group 1 - The AI industry chain stocks, including CPO and liquid-cooled servers, showed strong performance on January 7, with notable gains such as Tai Chen Guang reaching a 20% limit up and Shijia Photon increasing by approximately 18% [1] - NVIDIA's CEO Jensen Huang announced the launch of the new consumer-grade GPU GeForce RTX 50 series at CES 2025, which utilizes the Blackwell architecture aimed at gamers, creators, and developers, achieving breakthroughs in AI-driven rendering [1] - The Blackwell architecture has been fully produced, with all major cloud service providers establishing systems to offer around 200 different models and configurations from approximately 15 hardware manufacturers [1] Group 2 - The market anticipates NVIDIA to reveal the GB300 product line at the GTC conference in March 2025, with the GB300 expected to be released six months after the GB200, which will have limited shipments in Q4 2024 and gradually increase in Q1 2025 [1] - The GB300 is projected to become the main product of the Blackwell series, indicating a faster pace of chip version updates and iterations [1] - Zheshang Securities suggests focusing on investment opportunities arising from the GB300 upgrade, particularly in areas such as optical modules, cooling, power supply, copper connections, testing, and PCB [2]

表决结果：9 票同意，0 票反对，0 票弃权。 2、审议通过《关于签订关联交易合同的议案》 该议案已经公司第四届董事会审计委员会第三次会议、独立董事第二次专 门会议审议通过，并同意提交公司董事会审议。 证券代码：688313 证券简称：仕佳光子 公告编号：2025-003 河南仕佳光子科技股份有限公司 第四届董事会第四次会议决议公告 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 河南仕佳光子科技股份有限公司（以下简称"公司"）第四届董事会第四次 会议（以下简称"会议"）于 2025 年 1 月 3 日在公司会议室以现场结合通讯方式 召开。会议通知于 2024 年 12 月 30 日以电子邮件方式送达各位董事。本次会议 由董事长葛海泉先生主持，应出席董事 9 人，实际出席董事 9 人。会议的召集 和召开程序符合有关法律法规和《公司章程》的规定，会议决议合法、有效。 二、董事会会议审议情况 1、审议通过《关于设立新加坡子公司并调整内部股权架构、向泰国子公 司增资的议案》 河南仕佳光子科技股份有限公司董 ...

河南仕佳光子科技股份有限公司（以下简称"公司"）第四届监事会第四次 会议（以下简称"会议"）于 2025 年 1 月 3 日在公司会议室以现场结合通讯方式 召开。会议通知于 2024 年 12 月 30 日以电子邮件方式送达各位监事。本次会议 由监事会主席汪波先生主持，应出席监事 5 人，实际出席监事 5 人。会议的召 集和召开程序符合有关法律法规和《公司章程》的规定，会议决议合法、有效。 二、监事会会议审议情况 1、审议通过《关于设立新加坡子公司并调整内部股权架构、向泰国子公 司增资的议案》 表决结果：5 票同意，0 票反对，0 票弃权。 2、审议通过《关于签订关联交易合同的议案》 证券代码：688313 证券简称：仕佳光子 公告编号：2025-004 河南仕佳光子科技股份有限公司 第四届监事会第四次会议决议公告 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 监事会认为：本次关联交易遵循公平交易、互利互惠的原则，有利于公司 正常业务的持续开展，公司主营业务不会对关联方形成依赖，不会对公司的独 立 ...

Company Overview - The company is a leading domestic supplier of optoelectronic core chips, focusing on the optical communication industry, with main businesses covering optical chips and devices, indoor optical cables, and cable materials [65] - The company's products are mainly used in backbone and metropolitan area networks, fiber-to-the-home, data centers, and 4G/5G construction, and it has successfully achieved mass production of PLC splitter chips and AWG chips [65] - The company has established a comprehensive IDM business system covering chip design, wafer manufacturing, chip processing, and packaging testing, and has broken through a series of key technologies [71] - The company's main products include PLC splitter chip series, AWG chip series, DFB laser chip series, fiber connectors, indoor optical cables, and cable materials [65] Industry Trends - The global optical chip market is expected to grow at a CAGR of 14.86% from 2023 to 2027, with high-speed optical chips growing faster than medium and low-speed chips [108] - The demand for high-speed optical chips is driven by AI, cloud computing, and big data technologies, which are pushing the development of the data communication market [36] - The global optical cable market is expected to recover in 2025, with a growth rate of 6.2%, driven by the rebound in the US market, recovery in Europe, and stabilization in China [122] - The global optical chip market is expected to exceed 50% growth in 2024, reaching a record high, with high-speed optical chips growing faster than medium and low-speed chips [108] Market Position and Competitive Advantage - The company's PLC splitter chips have the second-largest global market share, with the top five manufacturers accounting for about 79% of the market [142] - The company has developed over 20 types of equal-split PLC splitters and has recently developed FTTR non-equal-split splitters, gaining wide recognition from global customers [140] - The company's DWDM AWG chips have entered the supply chain of major domestic and international equipment manufacturers and are being supplied in bulk, with the ability to supply DWDM AWG modules gradually improving [140] - The company has achieved breakthroughs in the performance indicators of high-power CW DFB lasers for silicon photonics, with products undergoing reliability verification at clients and achieving small-scale sales [152] Financial Performance - In the first three quarters of 2024, the company achieved revenue of 729 million yuan, a year-on-year increase of 34.77%, and a net profit of 36.209 million yuan, a year-on-year increase of 231.0% [68] - In Q3 2024, the company achieved revenue of 280 million yuan, a year-on-year increase of 32.74%, and a net profit of 24.2527 million yuan, a year-on-year increase of 344.53% [68] - The company's gross margin has gradually recovered in 2024, with the gross margin of the optical chip and device business being higher than the overall gross margin [131] Future Outlook - The company is focusing on the development of 400G/800G optical modules, high-power CW DFB lasers, and DWDM AWG chips, with some products already achieving customer verification and bulk shipments [92] - The company is actively expanding into new application scenarios for optical chips, such as data center silicon photonics, laser radar, and gas sensing, with some products entering the sampling stage and achieving sales [119] - The company is expected to benefit from the increasing demand for high-speed optical modules, with its AWG components, fiber connectors, and CW light sources expected to benefit from the growth of high-speed optical modules [22]

Investment Rating - The report maintains an "Increase" rating for the company, indicating a projected relative increase of 5% to 15% compared to the CSI 300 index over the next six months [1][12]. Core Views - The company has shown significant growth in revenue and profit, with a year-on-year revenue increase of 34.77% and a net profit increase of 231.0% for the first three quarters of 2024 [1]. - The demand for optical communication products, particularly in the data center and AI computing sectors, is driving the company's growth, with a strong order backlog for AWG components [1][3]. - The company's gross margin has improved significantly, reaching 25.84% for the first three quarters of 2024, an increase of 6.06 percentage points year-on-year [1][4]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved revenue of 729 million yuan, with a net profit of 36.21 million yuan [1]. - The gross margin for Q3 2024 was reported at 29.08%, reflecting a year-on-year increase of 7.31 percentage points [1]. - The company’s R&D expenses for the first three quarters of 2024 were 80.09 million yuan, representing a year-on-year growth of 0.97% [1]. Market Trends - The demand for 400G and 800G optical modules is expected to drive growth in the optical communication market, with a projected compound annual growth rate of over 28% for the 400G+ market by 2029 [3]. - The indoor optical cable market is also experiencing steady growth, with global demand for optical cables expected to grow at a compound annual growth rate of approximately 4% from 2023 to 2027 [3]. Profitability Forecast - The company is expected to see continued improvement in profitability, with projected net profits of 50 million yuan, 101 million yuan, and 138 million yuan for 2024, 2025, and 2026, respectively [4]. - The projected price-to-earnings ratios for the company are 135.19X for 2024, 67.25X for 2025, and 49.20X for 2026 [4].