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 ...

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].

编号：2024-002 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投资者关系活动记录表 | --- | --- | --- | --- | |----------------|---------------------|-----------------------------------|---------------------------------------| | | □ | 特定对象调研 □分析师会议 | | | 投 资 者 关 系 | □ | 媒体采访 □业绩说明会 | | | | □ | 新闻发布会 □路演活动 | | | 活动类别 | □ 现场参观 | | | | | 其他（ 2024 | 年三季度业绩交流会） | | | 参 与 单 位 名 | 见附件 | | | | 称 | | | | | 时间 | 2024 年 10 月 | 18 日 10:00-11:00、14:00-15:00 | | | 地点 | 电话调研 | | | | | 序号 | 接待人员职务 | 接待人员姓名 | | 上 市 公 司 接 | 1 | 董事、副总经理 | 黄永光 | | 待人员 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price indicating a potential upside of over 20% within the next six months [5][12]. Core Insights - The company reported significant revenue growth, achieving 729 million yuan in the first three quarters of 2024, a year-on-year increase of 35%, and a net profit of 36.21 million yuan, up 231% year-on-year [1][2]. - In Q3 alone, the company generated 280 million yuan in revenue, reflecting a 33% year-on-year increase and a 12% quarter-on-quarter increase, with a net profit of 24.25 million yuan, marking a 345% year-on-year increase and a 590% quarter-on-quarter increase [1][2]. - The growth is attributed to the expansion of the company's product lines in high-speed optical communication, particularly in data communication and AI products, with strong demand for AWG and DFB related products [1][2]. Financial Performance Summary - The company’s gross margin for Q3 was 29%, an increase of 7.3 percentage points year-on-year and 5.5 percentage points quarter-on-quarter, while the net profit margin reached 8.65%, up 13.35 percentage points year-on-year and 7.25 percentage points quarter-on-quarter [2]. - The company has made significant progress in reducing costs and improving efficiency, enhancing its R&D cost management capabilities through technological innovations [2]. - The forecast for net profit for 2024-2026 has been revised upwards to 58 million yuan, 104 million yuan, and 145 million yuan respectively, reflecting the anticipated growth in both active and passive optical chip products [2][4]. Product Development Highlights - The company has achieved breakthroughs in the performance of high-power CW DFB lasers, with outputs of 50mW to 900mW, currently undergoing client reliability validation and small-scale sales [2]. - Development of 100G EML for data communication is progressing, with internal validation ongoing [2]. - The company has successfully developed AWG chips and components for 800G/1.6T optical modules, with 800G optical modules already in mass production [2]. Financial Data and Valuation - The company’s total revenue for 2022 was 903.26 million yuan, with projections of 1,039.80 million yuan for 2024, indicating a growth rate of 37.80% [4]. - The net profit for 2022 was 64.29 million yuan, with a forecasted recovery to 58 million yuan in 2024 [4]. - The company’s P/E ratio is projected to be 107.50 in 2024, decreasing to 42.98 by 2026, indicating improving valuation metrics over time [4][8].

Key Points - **Industry/Company Involved**:释迦光子三级报 (Company) - **Core Views and Arguments**: The company has showcased impressive performance with significant changes in gross margin and profit [1]. - **Other Important Content**: N/A

Investment Rating - Maintains an "Overweight" rating with a target price of 15.60 RMB [3][5] Core Views - The company's Q3 2024 performance met expectations, with significant profit improvement [3] - Revenue for the first three quarters of 2024 reached 729 million RMB, a year-on-year increase of 34.77% [4] - Net profit attributable to the parent company for Q3 2024 was 24 million RMB, a year-on-year increase of 344.53% [4] - Gross margin for Q3 2024 reached 29.08%, an increase of over 5.3 percentage points quarter-on-quarter [4] - The company's high-end optical chip business is progressing, and its Thai subsidiary has started production [3][4] Financial Performance - Revenue for Q3 2024 was 280 million RMB, a year-on-year increase of 32.74% and a quarter-on-quarter increase of 11.5% [4] - The company's AWG chip manufacturing capability has led to significant economies of scale, reducing production costs and improving profitability [4] - The company expects continued growth in performance and profitability in Q4 2024, driven by orders from North American customers for 2025 modules [4] Business Development - The company has achieved commercial output of CW light sources at various power levels (50mW, 70mW, 100mW, 200mW, 900mW), which are expected to be used in 400G/800G silicon photonics modules and CPO-compatible ELSFP external light sources [4] - The company is also developing high-speed EML chips [4] - The Thai subsidiary, which produces indoor optical cables and various passive and active devices, is expected to contribute to business growth starting in Q4 2024 [4] Market and Industry - The demand for AWG/MPO components is strong, driven by the rapid adoption of 400G/800G products by downstream data communication customers [4] - The company's products, including AWG chip components, parallel optical components, and data center MPO jumpers, are seeing rapid growth in demand [4] Financial Forecasts - The company maintains its 2024-2026 net profit forecasts at 51 million RMB, 120 million RMB, and 215 million RMB, respectively, with corresponding EPS of 0.11 RMB, 0.26 RMB, and 0.47 RMB [4] - The target price remains at 15.60 RMB, with an "Overweight" rating [4]

Revenue and Profit Growth - Revenue for the third quarter reached 280.40 million yuan, a year-on-year increase of 32.74%[4] - Net profit attributable to shareholders of the listed company was 24.25 million yuan, a significant increase of 344.53% compared to the same period last year[4] - The company's revenue growth was driven by increased product offerings in data centers and AI computing, as well as growth in orders for AWG-related products, DFB-related products, and fiber connectors[9] - The company's net profit growth was attributed to increased revenue, cost reduction, and improved product yield through technological innovation[9] - Total operating revenue for the first three quarters of 2024 reached 729,306,738.13 RMB, a significant increase from 541,138,506.89 RMB in the same period of 2023[19] - Net profit for the first three quarters of 2024 was 36,209,033.27 RMB, compared to a net loss of 27,639,748.66 RMB in the same period of 2023[20] - Basic earnings per share for the first three quarters of 2024 were 0.0801 RMB, compared to a loss of 0.0609 RMB per share in the same period of 2023[21] - Total comprehensive income for the first three quarters of 2024 was 38,076,254.43 RMB, compared to a loss of 27,116,613.87 RMB in the same period of 2023[21] R&D and Innovation - R&D investment for the quarter was 26.22 million yuan, accounting for 9.35% of the revenue, a decrease of 4.87 percentage points year-on-year[5] - R&D expenses for the first three quarters of 2024 were 80,087,183.57 RMB, slightly higher than 79,318,006.49 RMB in the same period of 2023[19] Financial Position and Assets - Total assets as of the end of the reporting period were 1.63 billion yuan, an increase of 10.27% compared to the end of the previous year[5] - Total assets reached 1.63 billion yuan, up 10.3% from 1.48 billion yuan at the end of 2023[16] - Current assets totaled 1.04 billion yuan, a 10.6% increase from 938.29 million yuan at the end of 2023[16] - Fixed assets grew to 491.04 million yuan, up 10.6% from 443.97 million yuan at the end of 2023[16] - Monetary funds increased to 330.40 million yuan, up 22.3% from 270.06 million yuan at the end of 2023[15] - Prepayments rose to 11.28 million yuan, a 63.2% increase from 6.91 million yuan at the end of 2023[15] - Other current assets grew to 7.36 million yuan, up 507.9% from 1.21 million yuan at the end of 2023[16] - Long-term prepaid expenses increased to 8.58 million yuan, up 105.4% from 4.18 million yuan at the end of 2023[16] - Deferred tax assets decreased to 18.21 million yuan, down 13.6% from 21.07 million yuan at the end of 2023[16] - Total assets as of Q3 2024 were 1,628,938,308.90 RMB, compared to 1,477,177,944.58 RMB in the same period of 2023[18] Liabilities and Equity - Total liabilities as of Q3 2024 were 460,410,002.44 RMB, up from 342,439,145.96 RMB in the same period of 2023[17] - Total equity attributable to the parent company as of Q3 2024 was 1,168,528,306.46 RMB, compared to 1,134,738,798.62 RMB in the same period of 2023[18] - Accounts payable increased to 151,954,338.80 RMB in Q3 2024 from 106,894,264.02 RMB in the same period of 2023[17] Cash Flow and Liquidity - The company's operating cash flow for the first three quarters was 3.66 million yuan, a decrease of 90.80% compared to the same period last year[4] - Sales revenue from goods and services received in cash increased to RMB 503.33 million in the first three quarters of 2024, up from RMB 358.57 million in the same period of 2023[22] - Total cash inflows from operating activities reached RMB 526.92 million in the first three quarters of 2024, compared to RMB 410.69 million in the same period of 2023[23] - Cash outflows for purchasing goods and accepting services rose to RMB 305.62 million in the first three quarters of 2024, up from RMB 149.83 million in the same period of 2023[23] - Net cash flow from operating activities decreased to RMB 3.66 million in the first three quarters of 2024, down from RMB 39.71 million in the same period of 2023[23] - Cash inflows from investment activities totaled RMB 267.84 million in the first three quarters of 2024, compared to RMB 1.05 billion in the same period of 2023[23] - Cash outflows for investments were RMB 135 million in the first three quarters of 2024, down from RMB 970 million in the same period of 2023[23] - Net cash flow from investment activities increased to RMB 70.72 million in the first three quarters of 2024, up from RMB 51.22 million in the same period of 2023[23] - Net cash flow from financing activities was negative RMB 14.05 million in the first three quarters of 2024, compared to negative RMB 27.08 million in the same period of 2023[24] - The net increase in cash and cash equivalents was RMB 58.65 million in the first three quarters of 2024, down from RMB 69.56 million in the same period of 2023[24] - The ending balance of cash and cash equivalents stood at RMB 319.70 million as of September 2024, up from RMB 229.88 million in the same period of 2023[24] Inventory and Accounts Receivable - Inventory increased to 243.32 million yuan, up 65.0% compared to 147.48 million yuan at the end of 2023, mainly due to increased raw material stockpiling for expanded production and sales[15] - Accounts receivable rose to 337.86 million yuan, a 41.3% increase from 239.06 million yuan at the end of 2023[15] Non-Recurring Items and Other Income - The company's non-recurring gains and losses for the quarter amounted to 3.29 million yuan, primarily from government subsidies and investment income[7] - Other comprehensive income for the first three quarters of 2024 was 1,867,221.16 RMB, up from 523,134.79 RMB in the same period of 2023[20] Earnings and Return on Equity - Basic earnings per share for the quarter were 0.0537 yuan, a year-on-year increase of 345.21%[4] - The company's weighted average return on equity for the quarter was 2.10%, an increase of 2.95 percentage points year-on-year[4]

河南仕佳光子科技股份有限公司（以下简称"公司"）第四届监事会第三次 会议（以下简称"会议"）于 2024 年 10 月 17 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 10 月 12 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 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法律法规、 中国证监会及上海证券交易所等相关规定，内容真实、准确、完整地反映了公 司 2024 年第三季度的经营情况，不存在虚假记载、误导性陈述或者重大遗漏。 表决结果：5 票同意，0 票反对，0 票弃权。 证券代码：688313 证券简称：仕佳光子 公告编号：2024-038 河南仕佳光子科技股份有限公司 第四届监事会第三次会议决议公告 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 ...

证券代码：688313 证券简称：仕佳光子 公告编号：2024-037 河南仕佳光子科技股份有限公司 第四届董事会第三次会议决议公告 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"）第四届董事会第三次 会议（以下简称"会议"）于 2024 年 10 月 17 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 10 月 12 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 2024 年第三季度报告的议案》 董事会认为：公司 2024 年第三季度报告的编制和审议程序符合法律法规、 中国证监会及上海证券交易所等相关规定，内容真实、准确、完整地反映了公 司 2024 年第三季度的经营情况，不存在虚假记载、误导性陈述或者重大遗漏。 该议案已经公司第四届董事会审计委员 ...