通信 2024 年 08 月 19 日 라라》/想秦司 报告原因：有业绩公布需要点评 間持 (维持) 2024 年 08 月 16 日市场敌据： 4.93收盘价 (元) 7.87/4.77年内最高/最低 (元) 市净规2.6 息率 (分红/股价 流通 A 股市值（百万元）6,716 2,879.43/8,349.87/ EU / 日本/ 政府 / 政府 / 日本 注："息率"以最近一年已公布分红计算 2024 年 06 月 30 日基础数据: 母殷净资产 (元)1.89 浴产负债购%51.89 3,419/1,362启殷本/流闻 A 殷 (百万 流通 B 殷/H 殷（百万）- -年内股价与大盘对比走势 : 证券分析师 刘筒筒 A0230522080003 liujj@swsresearch.com 李国盛 A0230521080003 ligs@swsresearch.com 联系人 刘蓉蓉 (8621)23297818× liujj@swsresearch.com 申万宏源研究微信服务号 信科移动 (688387) 坚持科创引领，持续减亏 投资要点: o o 事件:公司发布 2024 年中报, 2024 年 ...

Investment Rating - The report maintains a "Recommended" rating for the company [3] Core Views - The company achieved a revenue of 2.992 billion yuan in the first half of 2024, a year-on-year decrease of 13.2%, but turned profitable in the second quarter with a net profit of 97 million yuan [1][2] - The decline in revenue is attributed to reduced demand from operators for network construction and a slowdown in 5G investment [2] - The company is expected to achieve slight revenue growth for the full year due to an increase in bid amounts and entering the order fulfillment period in the second half of the year [2] - Cost control measures have led to a decrease in expenses, with operating costs at 2.237 billion yuan and a gross margin of 25.3%, which is an increase of 0.1 percentage points year-on-year [2] - The company continues to invest in satellite internet research and development, with a total investment of 680 million yuan in the first half of the year, indicating strong innovation capabilities [2] Financial Forecasts - The company is projected to generate revenues of 8.433 billion yuan, 9.577 billion yuan, and 11 billion yuan for the years 2024, 2025, and 2026 respectively, with corresponding net profits of 6.29 million yuan, 131.13 million yuan, and 227.53 million yuan [3][7] - The price-to-earnings (PE) ratios are expected to be 2680X, 129X, and 74X for the same years [3][7]

中信科移动通信技术股份有限公司 关于信科（北京）财务有限公司的风险持续评估报告 根据上海证券交易所发布的《上海证券交易所上市公司自律监管指引第5号——交易与关 联交易》的要求，中信科移动通信技术股份有限公司 (以下简称"信科移动"或"公司") 通 过查验信科（北京）财务有限公司（以下简称"信科财务公司"或"财务公司"）的《营业执 照》与《金融许可证》等资料，审阅资产负债表、利润表、现金流量表等财务公司的定期财务 报告，对其经营资质、业务和风险状况进行了评估，具体情况报告如下: 一、财务公司基本情况 信科（北京）财务有限公司于 2011 年 11 月 22 日注册登记，系依照《中华人民共和国公 司法》、《企业集团财务公司管理办法》等有关法律法规的规定，经国家金融监督管理总局(原 中国银行保险监督管理委员会)批准成立的非银行金融机构，财务公司注册资本 10.00 亿元。 现法定代表人为：肖波；公司类型：有限责任公司（法人独资）；企业注册地址：北京市海淀 区学院路 40 号一区。统一社会信用代码：91110000717831362U。 2021年1月25日，中国信息通信科技集团有限公司受让了电信科学技术研究院有限公 ...

证券代码：688387 证券简称：信科移动 公告编号：2024-027 中信科移动通信技术股份有限公司 第二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 中信科移动通信技术股份有限公司（以下简称"公司"）第二届监事会第 二次会议于 2024 年 8 月 16 日在公司会议室以现场和通讯相结合的方式召开， 本次会议通知已于 2023 年 8 月 5 日通过电子邮件形式送达公司全体监事。本次 会议由监事会主席李汉兵先生主持，会议应出席监事5人，实际出席监事5人。 本次会议的召开符合《中华人民共和国公司法》等法律、法规、部门规章 以及《中信科移动通信技术股份有限公司章程》的有关规定，会议决议合法、 有效。 二、监事会会议审议情况 （一）审议通过了《关于公司 2024 年半年度报告及其摘要的议案》 监事会认为：公司 2024 年半年度报告及摘要的编制、内容和审议程序符合 相关法律、法规、中国证监会和上海证券交易所的各项规定和要求；报告的内 容能够真实、准确、完整地反映上市公司 ...

中信科移动通信技术股份有限公司 《2024 年度提质增效重回报专项行动方案》 的半年度评估报告 中信科移动通信技术股份有限公司（以下简称"信科移动"、"公司"）是我 国移动通信领域的核心企业，公司始终坚持自主创新驱动价值创造，紧跟移动 通信最新技术趋势，聚焦主责主业，不断增强企业在移动通信领域的核心竞争 力，着力打造高质量科创板上市公司。公司深刻认识到提高上市公司质量，增 强投资者回报，提升投资者的获得感，是上市公司发展的应有之义，是上市公 司对投资者的应尽之责。基于此，公司制定了《2024 年度"提质增效重回报" 行动方案》（以下简称"《行动方案》"），努力实现经营业绩持续稳定的增长，为 客户、股东、员工及其他社会各方创造价值，积极回报利益相关方。 为进一步落实有关工作安排，切实维护全体股东利益，公司对《行动方案》 在 2024 年上半年度的执行情况进行全面评估并编制本报告，具体内容如下： 一、"坚持聚焦主业，提升发展质量"方面 2024 年上半年，公司继续坚持聚焦移动通信主业，加大国内、国际、行业 应用及新业务市场的拓展力度，上半年实现归属于上市公司股东的净利润-0.61 亿元，亏损额持续收窄，企业经营质 ...

证券代码：688387 证券简称：信科移动 公告编号：2024-028 中信科移动通信技术股份有限公司 2024年半年度募集资金存放与实际使用情况 的专项报告 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。 根据中国证券监督管理委员会《上市公司监管指引第 2 号——上市公司募集 资金管理和使用的监管要求》、《上海证券交易所科创板上市公司自律监管指引 第 1 号——规范运作》以及《上海证券交易所上市公司自律监管指南第 1 号—— 公告格式》的相关规定，中信科移动通信技术股份有限公司（以下简称"公司" 或"信科移动"）就 2024 年上半年募集资金存放与实际使用情况作如下专项报 告： 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 根据中国证券监督管理委员会《关于同意中信科移动通信技术股份有限公司 首次公开发行股票注册的批复》（证监许可〔2022〕1336 号）核准同意，公司首 次公开发行人民币普通股（A 股）68,375.00 万股（超额配售选择权行使前）， 每股发行价格为 6.05 元。募集资金总额为人民币 4 ...

Financial Performance - The company reported a significant increase in revenue for the first half of 2024, with total revenue reaching RMB 1.2 billion, representing a year-on-year growth of 25%[13]. - The company's operating revenue for the first half of 2024 was ¥2,992,455,388.62, representing a decrease of 13.16% compared to the same period last year[18]. - The net profit attributable to shareholders was -¥61,408,460.25, an improvement from -¥73,012,784.28 in the previous year[18]. - The net cash flow from operating activities was -¥1,070,235,453.20, showing a slight improvement from -¥1,229,804,036.87 year-on-year[18]. - The total assets at the end of the reporting period were ¥13,649,398,408.96, down 5.46% from the previous year[18]. - The net assets attributable to shareholders decreased by 1.27% to ¥6,474,890,757.31 compared to the end of the previous year[18]. - The basic earnings per share for the first half of 2024 was -¥0.02, consistent with the same period last year[19]. - The gross profit margin remained stable at 25.26% compared to the previous year[47]. - The company reported a net loss of ¥8,843,570,356.61 as of June 30, 2024, compared to a loss of ¥8,782,161,896.36 at the end of 2023[148]. Research and Development - The company is investing in R&D for 5G-Advanced technology, aiming to improve data transmission speeds by 50% over current 5G standards[12]. - Research and development expenses accounted for 20.68% of operating revenue, an increase of 2.94 percentage points compared to the previous year[19]. - The company achieved a total R&D investment of ¥618,904,808.06, a slight increase of 1.23% compared to ¥611,376,452.15 in the previous year[34]. - The number of new intellectual property applications increased by 865, including 849 new domestic and international patent applications[31]. - The company holds a total of 15,429 domestic and international invention patents, 298 utility model patents, and 73 design patents as of June 30, 2024[32]. - The company applied for 134 patents related to 6G technology, maintaining a leading position in the industry[24]. - The company has developed multiple advanced technologies, including a multi-mode collaborative testing technology for 5G NR, which is now in large-scale commercial use[28]. - The company has made significant advancements in R&D, with a focus on satellite communication technologies and 6G network innovations[29]. Market Expansion and Strategy - Market expansion efforts are focused on Southeast Asia, with plans to enter three new countries by the end of 2024[12]. - The company is focusing on expanding into emerging businesses such as data centers, cloud computing, and big data, which are increasingly contributing to telecom revenue[23]. - The company is actively involved in international standardization organizations, contributing to the evolution of global mobile communication standards[24]. - The company is focusing on international market expansion, particularly in Southeast Asia and South America, showcasing its 5G solutions and technology innovation capabilities[45]. - The company has completed a strategic acquisition of a local tech firm for RMB 300 million to enhance its technology stack and market presence[12]. Sustainability and Corporate Social Responsibility - The management highlighted a commitment to sustainability, with initiatives aimed at reducing carbon emissions by 30% by 2025[12]. - The company invested 1.7438 million yuan in environmental protection measures during the reporting period[69]. - The company achieved a 25% reduction in energy consumption through optimized production processes and maintenance of equipment[73]. - The company has implemented measures to ensure that all pollutants meet national standards during production[70]. - The company received recognition for its efforts in poverty alleviation and rural revitalization, enhancing its corporate social responsibility profile[75]. Governance and Compliance - The board of directors confirmed that there are no significant legal issues or governance concerns affecting the company's operations[5]. - The company has ensured compliance with commitments regarding share transfers and management, with no violations reported during the reporting period[77]. - The company confirmed that there are no fraudulent issuance circumstances in the current IPO process, and the prospectus does not contain false records, misleading statements, or major omissions[94]. - The company will ensure that any unavoidable related transactions are conducted in accordance with national laws and regulations, and at normal commercial terms[98]. Financial Management and Shareholder Relations - The company aims to enhance capital efficiency and strengthen investment decision-making processes, focusing on controlling funding costs and optimizing budget management[90]. - The profit distribution policy emphasizes sustainable returns to shareholders, with a commitment to maintain continuity and stability in profit distribution practices[91]. - The company plans to distribute profits primarily through cash dividends, with conditions for cash distribution including achieving profitability and having positive distributable profits[92]. - The controlling shareholder has pledged not to interfere in the company's management or infringe on its interests[90]. - The company will strictly adhere to the lock-up period requirements and will not reduce its shareholding during this period[84]. Legal Matters and Litigation - The company is involved in a patent infringement lawsuit against Samsung (China) Investment Co., Ltd., with a total of 6 cases and a claimed economic loss of RMB 20 million, along with reasonable expenses of RMB 500,000, totaling RMB 123 million[107]. - The company has reported no significant litigation or arbitration matters during the reporting period[108]. Operational Efficiency - The company has established a comprehensive electronic work system to promote paperless and mobile office practices[74]. - The company is enhancing its management efficiency through digital projects, including the integration of ERP systems and marketing service information platforms[46]. - The company will manage raised funds effectively to ensure compliance and prevent risks associated with fund usage[89].

信科移动 20240812_原文 2024 年 08 月 12 日 22:23 发言人 00:00 好的，主持人，我现在开始了。好的，可以的。好，各位投资机构的朋友大家下午好。感谢大家参加我们 的电话会议，我是中信证券通信分析师石伟星。我们今天主要是给大家分享一下，我们看好信科移动这家 上市公司的一个逻辑。 发言人 00:21 首先我们是说一下整个行业的一个趋势。我们认为 24 年到 30 年这样一个时间阶段的话，将是 5G 和卫星 相融合，形成这样一个 5G 非地面网络，也就是 5GNTN 新的技术的话，将是这个 5G 新发展阶段的一个目 标之一。在这个阶段的话，5G 的一个技术协议的话，也将从这个地面走向了天空。 发言人 00:45 具体来说的话，我们其实是可以复盘一下有几个时间点。那 18 年的时候，5G15 的这个正式标准的一个确 立，是是这是一个起始点。那么 26 20 年的 26 是 1 个完善，那么二年的一个 27 是 1 个增强。那么这到此 阶段，5G 的第一阶段它的基本是完成了。后续接着是整个 28，也许 29，一直到 30 年 6G 这个协议正式 发布之前的话。这个阶段的话，国际组织的话 ...

大家好欢迎参加东星通信信科移动城市卫星互联网浪潮全球移动通信冉冉星星目前所有参会者清楚已经状态现在开始播报免责声明 本次会议局面向受邀的东兴证券研究所的白明山客户会议中嘉宾的发言内容仅代表其个人观点所有信息或所表述的意见均不构成对具体证券在具体价位、具体时点、具体市场表现的判断或投资建议研究人员的发言内容仅代表当日的判断具体请参见完整版的研究报告依照监管要求和保密原则任何机构或个人严禁对本次会议内容、录音 制作金钥转发转载传播复制编辑修改等涉嫌违反上述情情等我们将保留一切法律权利感谢您的理解和支持谢谢好的主持人那我现在开始了好的可以的 各位投资机构的朋友大家下午好那么感谢大家参加我们的电话会议我是东兴证券通信分析师石伟晶我们今天主要是给大家分享一下我们看好信科移动这家商业公司的一个逻辑 那么首先我们是说一下整个行业的一个趋势那么我们认为24年到30年这样一个时间阶段的话将是5G和卫星相融合形成这样一个5G非地面网络也就是5G NTA的这个技术的话将是这个5G新发展阶段的一个目标之一在这个阶段的话5G的一个技术协议的话也将从这个地面走向了天空 具体来说的话我们其实是可以复盘一下有几个时间点18年的时候5G耳15 ...

Summary of Conference Call Company and Industry - The conference call focuses on the telecommunications industry, specifically highlighting the company Xinkai Mobile [1]. Core Points and Arguments - The analyst from Dongxing Securities expresses a positive outlook on Xinkai Mobile, indicating a strong belief in the company's potential for growth and investment opportunities [1]. Other Important Content - The call serves as a platform for investment institutions to engage and understand the rationale behind the positive assessment of Xinkai Mobile [1].