Financial Performance - In Q3 2024, the company's revenue reached 227.75 million CNY, a year-on-year increase of 40.80% and a quarter-on-quarter increase of 45.85% [4] - The net profit attributable to shareholders was 52.49 million CNY, up 141.25% year-on-year, while the net profit after deducting non-recurring gains and losses was 40.46 million CNY, reflecting a 482.30% increase [4] - The gross margin for Q3 2024 was 60.84%, an increase of 2.60 percentage points year-on-year [4] Research and Development - R&D expenses for 2024 amounted to 60.77 million CNY, with increases in employee compensation, material consumption, and equipment depreciation compared to the previous year [4] - The company has established R&D centers in Xi'an and Shanghai to enhance technological development and accelerate product development [5] Product Performance - Sales of self-developed core technology platform digital oscilloscopes accounted for 89.00% of total sales in Q3 2024, up 13.50 percentage points year-on-year [4] - The DHO series high-resolution digital oscilloscopes saw a sales revenue increase of 71.21% year-on-year [4] - High-end digital oscilloscopes (bandwidth ≥ 2GHz) contributed 41.83% to overall sales revenue, with a year-on-year increase of 144.93% [4] Strategic Developments - The Shanghai R&D center opened on October 18, 2024, enhancing the company's R&D capabilities in modular instruments and high-power products [5] - The company plans to launch modular instrument products by the end of 2024, further enriching its product line [5] Market Outlook - The company anticipates continued improvement in Q4 2024 performance, supported by a favorable market environment and strategic initiatives [5] - The expected order amount for the acquired company, Nais Electronics, is 69.32 million CNY for 2024, indicating strong order acquisition capabilities [7] Conclusion - The company's strong performance in Q3 2024 is attributed to strategic execution, continuous innovation, and the establishment of original innovation capabilities [8] - The focus on enhancing product competitiveness and expanding market reach is expected to drive future growth [9]

Investment Rating - The report maintains an "Accumulate" rating for the company [4] Core Views - The company achieved a significant increase in Q3 net profit attributable to shareholders, with a year-on-year growth of 138%, driven by high-end new products and effective solutions [2][3] - The company reported a total revenue of 530 million yuan for the first three quarters of 2024, representing a 13% year-on-year increase, while Q3 alone saw a revenue of 230 million yuan, up 41% year-on-year [2][3] - The gross profit margin for Q3 was 60.8%, reflecting a year-on-year increase of 2.6 percentage points, and the net profit margin was 19.8%, up 6.2 percentage points year-on-year [3] Financial Performance Summary - For 2024, the company forecasts total revenue of 758.22 million yuan, with a year-on-year growth of 13.08%, and a net profit of 111.49 million yuan, reflecting a growth of 3.27% [1][4] - The company's earnings per share (EPS) for 2024 is projected to be 0.57 yuan, with a price-to-earnings (P/E) ratio of 70.34 based on the current market price [1][4] - The company has implemented a stock incentive plan for 76 core employees, which is expected to enhance growth confidence [4]

Summary of Conference Call Company Overview - The conference call discusses the performance of 普原金面公司 (Puyuan Jinmian Company) in the third quarter, highlighting significant revenue growth and improvements in profit margins [1][2][3]. Key Financial Metrics - **Revenue**: The company's revenue for Q3 reached 227 million yuan, a year-on-year increase of 40.8% and a quarter-on-quarter increase of 45.85% [1]. - **Gross Margin**: The gross margin improved to 60.84%, up 2.6 percentage points year-on-year and 2.37 percentage points quarter-on-quarter [1][7]. - **Net Profit**: The net profit was 52.49 million yuan, a year-on-year increase of 141.25%. The net profit after tax was 40.46 million yuan, up 482.3% year-on-year [1]. Product Performance - **Core Product Line**: The digital oscilloscope's gross margin reached 61.28%, with a year-on-year increase of 1.12 percentage points [1]. - **High-Resolution Oscilloscope**: The DHL series saw a remarkable year-on-year increase of 71.21% in sales [4]. - **High-End Oscilloscope**: The sales of high-end oscilloscopes accounted for 41.83% of total oscilloscope revenue, with a year-on-year increase of 144.93% [5]. R&D and Operational Efficiency - The company has increased its R&D investment, with new centers established in Xi'an and Shanghai, leading to higher personnel costs and material expenses [2][8]. - The overall operating efficiency improved, with a decrease in the sales expense ratio by 4.06% year-on-year, attributed to lower marketing expenses and the acquisition of a new entity, 耐数 (Nai Shu) [2][3]. Strategic Initiatives - The company is transitioning from product-focused to solution-oriented offerings, with sales from solutions exceeding 30 million yuan in the reporting period [6]. - The acquisition of 耐数 is expected to enhance the company's solution capabilities and contribute positively to future revenue growth [9][10]. Market Outlook - The company anticipates continued growth in the fourth quarter, driven by high-end product sales and the introduction of modular instruments [11][12]. - The management expressed confidence in the long-term potential of the solutions business, which is expected to have a lower marketing expense ratio and higher gross margins compared to traditional product sales [33]. Industry Context - The overall market demand remains mixed, with domestic growth beginning to align with international trends. The company believes that its strategic positioning and product differentiation will allow it to thrive despite broader market challenges [20][28]. Additional Insights - The management emphasized the importance of self-research and development to maintain competitive advantages and avoid price wars [7][24]. - The company is focused on building a strong sales network to support its transition to solution-based offerings, which require different sales strategies compared to traditional product sales [30][31]. This summary encapsulates the key points discussed during the conference call, providing insights into the company's financial performance, product developments, strategic initiatives, and market outlook.

Investment Rating - The report maintains a "Buy" rating for the company [2][3] Core Views - The company reported a significant increase in quarterly profits, exceeding expectations, with a revenue of 535 million yuan for Q3 2024, representing a year-on-year growth of 13.14% [2] - The company's high-end and high-resolution oscilloscope products saw substantial revenue growth, with increases of 71.21% and 144.93% respectively in Q3 2024 [3] - The gross margin reached a historical high of 60.84% in Q3 2024, driven by self-developed chips and an optimized product structure [3] - The acquisition of Nais Electronics is expected to enhance the company's capabilities in the solutions sector, contributing to diversified growth [3] - Revenue forecasts for 2024-2026 are adjusted to 783 million, 936 million, and 1.15 billion yuan, with corresponding net profits of 112 million, 182 million, and 248 million yuan [3] Summary by Sections Performance Overview - Q3 2024 revenue was 535 million yuan, a 13.14% increase year-on-year, while net profit was 60 million yuan, down 11.65% year-on-year [2] - The DHO series and high-end oscilloscopes contributed significantly to revenue growth [3] Gross Margin and Profitability - The gross margin for Q3 2024 was 60.84%, up 2.59 percentage points year-on-year [3] - The proportion of revenue from self-developed digital oscilloscopes reached 89% in Q3 2024, aiding in cost reduction [3] Strategic Developments - The acquisition of Nais Electronics is expected to strengthen the company's solution capabilities, with Nais contributing 30.56 million yuan in revenue [3] - The company anticipates continued improvement in profitability, with projected gross margins of 57.8%, 59.3%, and 60.5% for 2024-2026 [3] Financial Projections - Adjusted revenue forecasts for 2024-2026 are 783 million, 936 million, and 1.15 billion yuan, with net profits of 112 million, 182 million, and 248 million yuan respectively [3] - The company is projected to have a P/E ratio of 54, 33, and 24 for the years 2024, 2025, and 2026 [3]

Investment Rating - The investment rating for the company is maintained at "Buy-A" with a 6-month target price of 46.8 CNY, compared to the current stock price of 36.11 CNY [5]. Core Insights - The company reported a significant revenue growth of 40.80% year-on-year in Q3 2024, achieving 2.28 billion CNY, the highest since its listing. The net profit attributable to shareholders increased by 138.42% year-on-year to 0.52 billion CNY [2]. - The company has successfully advanced its high-end product strategy, with the gross margin in Q3 reaching 60.84%, an increase of 2.6 percentage points year-on-year. The sales revenue from high-end oscilloscopes accounted for 41.83% of total oscilloscope revenue, up 18.45 percentage points year-on-year [3]. - The acquisition of 100% equity in Nais Electronics has been completed, which is expected to enhance the company's customer base and solution capabilities in advanced application fields such as remote sensing and quantum information [4]. Financial Performance Summary - For the first three quarters of 2024, the company achieved a total revenue of 5.35 billion CNY, a year-on-year increase of 13.14%. However, the net profit attributable to shareholders decreased by 11.65% to 0.60 billion CNY [1]. - The company forecasts revenues of 7.94 billion CNY, 9.92 billion CNY, and 12.26 billion CNY for 2024, 2025, and 2026 respectively, with net profits of 1.14 billion CNY, 1.51 billion CNY, and 2.13 billion CNY for the same years [10]. - The gross margin is projected to improve, with estimates of 57.8% in 2024, 58.9% in 2025, and 60.1% in 2026 [11].

国泰君安证券股份有限公司 关于普源精电科技股份有限公司及全资子公司 使用发行股份购买资产并募集配套资金的部分闲置募集资金进行现 金管理及以协定存款方式存放募集资金的核查意见 国泰君安证券股份有限公司（以下简称"独立财务顾问"）作为普源精电科 技股份有限公司（以下简称"公司"、"普源精电"或"发行人"）发行股份购买 资产并募集配套资金项目的独立财务顾问，根据《中华人民共和国公司法》《中 华人民共和国证券法》《上海证券交易所科创板上市公司自律监管规则适用指引 第 1 号——规范运作》《上海证券交易所科创板股票上市规则》等有关法律法规 和规范性文件的要求，对普源精电科技股份有限公司及全资子公司北京耐数电子 有限公司（以下简称"耐数电子"）拟使用部分暂时闲置募集资金进行现金管理 及以协定存款方式存放募集资金等事项进行了认真、审慎的核查，发表如下意见： 一、募集资金基本情况 根据中国证券监督管理委员会于 2024 年 7 月 15 日出具的《关于同意普源精 电科技股份有限公司发行股份购买资产并募集配套资金注册的批复》（证监许可 〔2024〕1049 号），公司向特定对象发行人民币普通股（A 股）股票 2,166,377 ...

证券代码：688337 证券简称：普源精电 公告编号：2024-101 一、募集资金基本情况 根据中国证券监督管理委员会于 2024 年 7 月 15 日出具的《关于同意普源精 1 电科技股份有限公司发行股份购买资产并募集配套资金注册的批复》（证监许可 〔2024〕1049 号），公司向特定对象发行人民币普通股（A 股）股票 2,166,377 股，发行价格为每股人民币 23.08 元，募集资金总额为人民币 49,999,981.16 元， 扣除各项发行费用人民币 5,716,831.13 元（不含税），实际募集资金净额为人民 币 44,283,000.03 元，实际收到募集资金金额为人民币 43,396,207.57 元（已扣除 独立财务顾问费用及承销费用（不含税）6,603,773.59 元）。上述募集资金已全部 到位，并经众华会计师事务所（特殊普通合伙）审验，于 2024 年 9 月 27 日出具 《验资报告》（众会字（2024）第 08865 号）。募集资金到账后，公司已对募集资 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 ...

证券代码：688337 证券简称：普源精电 公告编号：2024-103 普源精电科技股份有限公司关于变更募投项目实施方式、 投资金额及项目延期暨新增募集资金投资项目的公告 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。 普源精电科技股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召开 了第二届董事会第二十二次会议和第二届监事会第二十次会议，审议通过了《关 于变更募投项目实施方式、投资金额及项目延期暨新增募集资金投资项目的议 案》，同意对公司 2023 年以简易程序向特定对象发行股票的募集资金投资项目 "马来西亚生产基地项目"进行相关调整，同意公司变更"马来西亚生产基地项 目"的实施方式、投资金额以及项目延期至 2025 年 11 月，并同意将募集资金用 于新增的"马来西亚研发中心项目"，该项目的投资总额为 7,064.00 万元。国泰君 安证券股份有限公司（以下简称"保荐机构"）发表了无异议的核查意见。 本次募投项目调整事项尚需提交公司股东大会审议，现就相关事宜公告如下： 根据公司披露的《普源精电科技股 ...

证券代码：688337 证券简称：普源精电 公告编号：2024-100 普源精电科技股份有限公司 关于公司及全资子公司使用以简易程序 向特定对象发行股票募集资金的部分暂时闲置募集资金进 行现金管理及以协定存款方式存放募集资金的公告 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。 普源精电科技股份有限公司（以下简称"公司"）于 2024 年 10 月 28 日召开 了公司第二届董事会第二十二次会议、第二届监事会第二十次会议，审议通过了 《关于公司及全资子公司使用以简易程序向特定对象发行股票募集资金的部分 暂时闲置募集资金进行现金管理及以协定存款方式存放募集资金的议案》，在保 证不影响募集资金投资项目实施、确保募集资金安全的前提下，同意公司及公司 全资子公司西安普源精电科技有限公司（以下简称"西安普源"）、上海普源精电 企业发展有限公司（以下简称"上海普源"）和 Rigol Technologies(malaysia) SDN.BHD（以下简称"马来西亚普源"）使用额度最高不超过人民币 190,000,000 元（含本数）的暂 ...

证券代码：688337 证券简称：普源精电 公告编号：2024-105 普源精电科技股份有限公司 第二届监事会第二十次会议决议公告 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 普源精电科技股份有限公司（以下简称"公司"）第二届监事会第二十次会 议于 2024 年 10 月 28 日在公司会议室以现场结合通讯的方式召开。会议通知已 于 2024 年 10 月 23 日通过通讯方式（包括但不限于电话、传真、电子邮件等） 送达各位监事。本次会议由监事会主席齐惠忠女士主持，会议应到监事 3 人，实 到监事 3 人。 本次会议的召集、召开符合有关法律、法规及规章制度和《普源精电科技股 份有限公司章程》（以下简称"《公司章程》"）的有关规定。 1 2.审议通过了《关于使用募集资金向全资子公司增资及提供借款以实施募 投项目的议案》 公司本次使用募集资金向全资子公司增资及提供借款以实施募投项目的事 项未改变募集资金的投资方向和建设内容，符合募集资金使用计划，不存在变相 改变募集资金用途和损害股东利益情形，有利于 ...