Investment Rating - The report assigns an "Accumulate" rating for the company, marking the first coverage [7]. Core Views - The company has shown a recovery in its three main business segments in Q1 2024, achieving profitability after a challenging 2023 where revenue declined due to macroeconomic factors [8]. - The company is focusing on R&D, with a significant portion of its revenue (12.73% in 2023) allocated to research and development, indicating a strong commitment to innovation in the optical chip industry [9]. - The demand for optical communication products is expected to grow rapidly, driven by the explosion of AI models and computing power needs, with the global optical module market projected to exceed $20 billion by 2027 [10]. Financial Performance - In 2023, the company reported a revenue of 755 million yuan, a decrease of 16.46% year-on-year, and a net loss of 48 million yuan, down 173.97% from the previous year [51]. - For Q1 2024, the company achieved a revenue of 198 million yuan, a year-on-year increase of 32.85%, and a net profit of 8.44 million yuan, marking a return to profitability [51]. - The projected revenues for 2024 to 2026 are 951 million yuan, 1.173 billion yuan, and 1.372 billion yuan, respectively, with corresponding net profits expected to be 40 million yuan, 77 million yuan, and 106 million yuan [11][38]. Business Development - The company is actively developing high-power DFB chips and devices for data centers and AI applications, indicating a strategic focus on high-growth areas [34]. - The company maintains strong partnerships with leading research institutions, enhancing its R&D capabilities and talent pool [34]. - The gross margin for Q1 2024 improved to 24.1%, reflecting a recovery in profitability compared to the previous year [23].

证券代码：688313 证券简称：仕佳光子 公告编号：2024-018 河南仕佳光子科技股份有限公司 关于参加 2023 年度半导体设备专场集体业绩说明会 暨召开 2024 年第一季度业绩说明会的公告 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。 重要内容提示： 投资者可于 2024 年 5 月 14 日（星期二）16:00 前通过邮件形式将需要了 解和关注的问题预先发送至公司投资者关系邮箱 ir@sjphotons.com。公司将在说 明会上对投资者普遍关注的问题进行回答。 4、投资者可于 2024 年 5 月 14 日（星期二）16:00 前通过邮件形式将需要了 解和关注的问题预先发送至公司投资者关系邮箱 ir@sjphotons.com。公司将在说 明会上对投资者普遍关注的问题进行回答。 三、出席业绩说明会人员 河南仕佳光子科技股份有限公司（以下简称"公司"）已于 2024 年 4 月 13 日 发布公司《2023 年年度报告》和《2024 年第一季度报告》，为便于广大投资者更 全面深入地了解公司 2023 年度和 ...

关于以集中竞价交易方式回购公司股份的进展公告 证券代码：688313 证券简称：仕佳光子 公告编号：2024-017 河南仕佳光子科技股份有限公司 号——回购股份》等相关规定，在回购股份期间，公司应当在每个月的前 3 个交易 日内公告截至上月末的回购进展情况，现将公司回购股份情况公告如下： 截至 2024 年 4 月 30 日，公司通过上海证券交易所交易系统以集中竞价交易 方式已累计回购股份 1,800,000 股，占公司总股本 458,802,328 股的比例为 0.3923%， 回购成交的最高价为 12.78 元/股，最低价为 9.26 元/股，支付的资金总额为人民币 19,826,720.73 元（不含交易费用）。 上述回购符合相关法律法规的规定和公司回购股份方案的要求。 三、 其他事项 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 | 2023/12/23 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | - ...

河南仕佳光子科技股份有限公司 2023 年年度股东大会会议资料 证券代码：688313 证券简称：仕佳光子 河南仕佳光子科技股份有限公司 2023 年年度股东大会会议资料 二〇二四年五月 1 / 31 河南仕佳光子科技股份有限公司 2023 年年度股东大会会议资料 河南仕佳光子科技股份有限公司 2023 年年度股东大会会议资料目录 | 2023 | 年年度股东大会会议须知 | | 3 | | --- | --- | --- | --- | | 2023 | 年年度股东大会会议议程 | | 5 | | 2023 | 年年度股东大会会议议案 | | 7 | | | 年度董事会工作报告的议案 | 议案一：关于公司 2023 | 7 | | | 年度监事会工作报告的议案 | 议案二：关于公司 2023 | 8 | | | 年年度报告及摘要的议案 | 议案三：关于公司 2023 | 9 | | | 年度财务决算报告的议案 | 议案四：关于公司 2023 | 10 | | | 年度财务预算报告的议案 | 议案五：关于公司 2024 | 11 | | | 年度利润分配预案的议案 | 议案六：关于公司 2023 | 12 | ...

华泰联合证券有限责任公司 关于河南仕佳光子科技股份有限公司 2023 年度持续督导跟踪报告 | 保荐机构名称：华泰联合证券有限责任公司 | 被保荐公司简称：仕佳光子 | | --- | --- | | 保荐代表人姓名：范哲 | 联系电话：025-83387697 | | 保荐代表人姓名：李威 | 联系电话：021-38966585 | 根据《证券法》《证券发行上市保荐业务管理办法》和《上海证券交易所科 创板股票上市规则》等有关法律、法规的规定，华泰联合证券有限责任公司（以 下简称"华泰联合证券"或"保荐机构"）作为河南仕佳光子科技股份有限公司 （以下简称"仕佳光子"或"公司"）首次公开发行股票的保荐机构，对仕佳光 子进行持续督导，并出具本持续督导跟踪报告： 一、保荐机构和保荐代表人发现的问题及整改情况 公司2023年年度报告显示，归属于上市公司股东的净利润为-4,754.67万元， 同比下降173.97%，归属于上市公司股东的扣除非经常性损益的净利润为- 6,681.56万元，同比下降270.20%，下降幅度较大。保荐机构知悉上述情况后，通 过高管访谈、查阅相关公告文件和财务资料等方式对公司经营情况、财务情况 ...

保荐总结报告书 华泰联合证券有限责任公司 关于河南仕佳光子科技股份有限公司 首次公开发行股票并在科创板上市 之保荐总结报告书 | 保荐机构名称 | 华泰联合证券有限责任公司 | | --- | --- | | 保荐机构编号 | Z26774000 | 一、保荐机构及保荐代表人承诺 1、保荐总结报告书和证明文件及其相关资料的内容不存在虚假记载、误导 性陈述或重大遗漏，保荐机构及保荐代表人对其真实性、准确性、完整性承担法 律责任。 2、本机构及本人自愿接受中国证券监督管理委员会（以下简称"中国证监 会"）、上海证券交易所对保荐总结报告书相关事项进行的任何质询和调查。 3、本机构及本人自愿接受中国证监会按照《证券发行上市保荐业务管理办 法》的有关规定采取的监管措施。 二、保荐机构基本情况 | 情况 | 内容 | | | --- | --- | --- | | 保荐机构名称 | 华泰联合证券有限责任公司 | | | 注册地址 | 深圳市前海深港合作区南山街道桂湾五路 128 | 号前海深港基金 | | | 小镇 B7 栋 401 | | | 主要办公地址 | 江苏省南京市建邺区江东中路 228 号华泰证券广场 | 1 ...

河南仕佳光子科技股份有限公司 营业收入扣除情况表 专项核查报告 致同会计师事务所（特殊普通合伙） 目 录 专项核查报告 公司 2023 年度营业收入扣除情况表及说明 1-2 致同会计师事务所（特殊普通合伙） 中国北京 朝阳区建国门外大街 22 号 赛特广场 5 层 邮编 100004 电话 +86 10 8566 5588 传真 +86 10 8566 5120 www.grantthornton.cn 河南仕佳光子科技股份有限公司 营业收入扣除情况表专项核查报告 致同专字（2024）第 610A008858 号 河南仕佳光子科技股份有限公司全体股东： 我们接受委托，在审计了河南仕佳光子科技股份有限公司（以下简称 "仕佳光子公司"）2023 年 12 月 31 日的合并及公司资产负债表，2023 年度的 合并及公司利润表、合并及公司现金流量表、合并及公司股东权益变动表以 及财务报表附注的基础上，对后附的《仕佳光子公司 2023 年度营业收入扣除 情况表及说明》（以下简称"营业收入扣除情况表"）进行了专项核查。 按照《上海证券交易所科创板股票上市规则》（以下简称"上市规则"） 和上海证券交易所《科创板上市公司自 ...

Financial Performance - 2023 annual revenue was 754.5948 million yuan, a decrease of 16.46% year-over-year [4] - 2023 net profit attributable to shareholders was -47.5467 million yuan, a decrease of 173.97% year-over-year [4] - 2023 operating cash flow was 78.9185 million yuan, a decrease of 41.43% year-over-year [4] - 2024 Q1 revenue was 197.7616 million yuan, an increase of 32.85% year-over-year [5] - 2024 Q1 net profit attributable to shareholders was 8.4432 million yuan, an increase of 364.41% year-over-year [5] Business Segments - Main business segments: optical chips and devices, indoor optical cables, and cable materials [4] - 2023 optical chips and devices revenue was 360.6255 million yuan, a decrease of 17.96% year-over-year [4] - 2023 indoor optical cables revenue was 191.6822 million yuan, a decrease of 12.72% year-over-year [4] - 2023 cable materials revenue was 184.8823 million yuan, a decrease of 17.39% year-over-year [4] - 2024 Q1 optical chips and devices revenue increased by 60%, accounting for over 50% of total revenue [5] Product Development - AWG series products accounted for over 45% of optical chips and devices revenue in 2024 Q1 [5] - DFB product series revenue increased, accounting for nearly 20% of optical chips and devices revenue [5] - 10G DFB laser chip shipments increased, with progress in CW DFB chip validation [5] - Development of high-power 1550nm pulse light sources and TDLAS gas sensing chips [6] - 10G EML and 100G EML development progressing, with 10G EML expected to complete sampling and customer validation in 2024 [6] Market and Customer Focus - 2023 overseas revenue was 161.2991 million yuan, a decrease of 37.01%, accounting for 21.38% of total revenue [4] - AWG components and parallel optical components are mainly for international customers [7] - MPO connector demand is strong due to 400G and 800G deployments, with sufficient material supply secured [7] Future Outlook - Focus on access network chips, high-speed EML for data center AI computing, and gas sensing, radar, and satellite fields [6] - Plans to adjust product and market structure, reduce costs, and expand domestic and international markets [8] - Aim for healthy and rapid growth in revenue and profit in 2024 [8]

Investment Rating - The report gives a "Hold" rating for the company, indicating a cautious approach towards investment in the near term while recognizing potential long-term growth opportunities [38]. Core Insights - The company, Shijia Photon (688313), focuses on the optical communication industry, with a comprehensive business model that includes optical chips and devices, indoor optical cables, and cable materials. The company has established a full-process business system covering chip design, wafer manufacturing, chip processing, and packaging testing [4][52]. - In 2023, the company reported a revenue of 750 million yuan, a decrease of 16.5% year-on-year, and a net profit loss of 47.55 million yuan, a decline of 174% year-on-year. The decline in revenue is attributed to reduced demand for core products and price decreases in the optical chip and device segment [38][25]. - The company has seen a significant drop in gross margin, with the overall gross margin for 2023 at 18.6%, down 26.1% year-on-year. However, there are signs of recovery in Q1 2024, with a gross margin increase to 24.1% [38][25]. Summary by Sections Company Overview - Shijia Photon was established in 2010 and went public in 2020. The company emphasizes continuous investment in R&D for optical chips and devices, aiming to master core technologies in the optical electronics sector [52][53]. Financial Analysis - The company's revenue fluctuated from 550 million yuan in 2019 to 900 million yuan in 2022, driven by increased demand in the global access network market and data center construction. However, in 2023, revenue fell to 750 million yuan due to various macroeconomic and industry factors [25][38]. - The net profit for 2023 was a loss of 47.55 million yuan, primarily due to decreased revenue and a significant drop in the net profit margin of the optical chip and device segment [25][38]. Product and Market Analysis - The main business segments include optical chips and devices, indoor optical cables, and cable materials, with optical chips and devices consistently accounting for over 40% of total revenue from 2020 to 2023 [26][29]. - The company has maintained a stable gross margin for indoor optical cables at 14.2%, while the gross margin for cable materials increased to 18.3% due to a higher proportion of automotive cable materials [26][30]. R&D and Innovation - R&D expenses increased from 59.6 million yuan in 2019 to 96.03 million yuan in 2023, with a R&D expense ratio of 12.7% in 2023, reflecting the company's commitment to innovation [37][38]. - The company has achieved significant milestones in developing various optical components and has accumulated 266 intellectual property rights, including 44 invention patents [37][38]. Future Outlook - The report anticipates a recovery in demand for optical chips and devices, driven by the growth of AI and data center requirements, with projected revenue growth rates of 30% for the next three years [38][55]. - The company is expected to improve its gross margin gradually, with forecasts indicating a rise to 24% by 2026 [38][55].

公司报告 | 年报点评报告 多因素影响 23 年业绩 1Q24 扭亏且营收恢复增长 CW 光源已实现小批量出货，光纤连接器快速增长 其他储备产品 盈利预测与投资建议 | --- | --- | --- | --- | --- | --- | |----------------------------------|--------|----------|----------|----------|----------| | 财务数据和估值 | 2022 | 2023 | 2024E | 2025E | 2026E | | 营业收入 ( 百万元 ) | 903.26 | 754.59 | 974.30 | 1,136.35 | 1,261.86 | | 增长率 (%) | 10.51 | (16.46) | 29.12 | 16.63 | 11.04 | | EBITDA( 百万元 ) | 210.41 | 134.14 | 171.06 | 221.03 | 258.78 | | 归属母公司净利润 ( 百万元 ) | 64.29 | (47.55) | 61.04 | 92.49 | 119.79 | | 增长 ...