Core Insights - Lingyun Guang reported a 53.12% year-on-year increase in Q3 revenue, reaching 759 million yuan [1] - The net profit for Q3 was 36.58 million yuan, reflecting a 47.97% year-on-year growth [1] - For the first three quarters of 2025, the company achieved a revenue of 2.127 billion yuan, up 34.30% year-on-year, and a net profit of 133 million yuan, which is an 18.46% increase [1] Business Performance - The company focused on "AI + Vision" to empower various industries in smart manufacturing and embodied intelligence applications, showing good progress in product layout and market expansion [1] - The business structure is continuously improving, indicating a positive trend in operational efficiency [1] AI Capabilities - Lingyun Guang's AI capabilities have been consistently enhanced, leading to increased penetration in smart manufacturing and embodied intelligence sectors [1] - The company has also made significant strides in AI-driven next-generation communication and computing products, laying a solid foundation for future development [1]

Core Insights - Lingyun Optoelectronics (688400.SH) reported a total operating revenue of 2.127 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 34.3% [1] - The net profit attributable to shareholders of the parent company reached 133 million yuan, marking an 18.46% year-on-year growth [1] - The basic earnings per share stood at 0.29 yuan [1]

Core Insights - Lingyun Guang (688400) reported a significant increase in revenue and net profit for Q3 2025, with revenue reaching 759 million yuan, a year-on-year growth of 53.12%, and net profit of 36.585 million yuan, up 47.97% [1] - For the first three quarters of 2025, the company achieved a total revenue of 2.127 billion yuan, reflecting a year-on-year increase of 34.30%, and a net profit of 133 million yuan, which is an 18.46% increase compared to the previous year [1] - The company has enhanced its AI capabilities, leading to increased penetration in smart manufacturing and embodied intelligence sectors, and has made good progress in AI-driven next-generation communication and computing products [1]

Core Viewpoint - Lingyun Technology Co., Ltd. reported strong financial performance for the first three quarters of 2025, with significant growth in revenue and net profit driven by advancements in AI and smart manufacturing applications [1] Financial Performance - The company achieved operating revenue of 2.127 billion yuan, representing a year-on-year increase of 34.30% [1] - The net profit attributable to shareholders reached 133 million yuan, reflecting a year-on-year growth of 18.46% [1] Business Development - Lingyun Technology focused on "AI + Vision" to empower various industries in smart manufacturing and embodied intelligence applications, resulting in positive progress in product layout and market expansion [1] - The company's AI capabilities have continuously improved, leading to increased penetration in smart manufacturing and embodied intelligence sectors [1] - Lingyun has also made significant strides in AI-driven next-generation communication and computing products, laying a solid foundation for future development [1]

证券代码：688400 证券简称：凌云光 公告编号：2025-081 凌云光技术股份有限公司 关于 2025 年第三季度计提减值准备的公告 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。 一、计提减值准备情况概述 结合公司的实际经营情况及行业市场变化等因素的影响，根据《企业会计准 则》及凌云光技术股份有限公司（以下简称"公司"）会计政策、会计估计的相 关规定，为客观、公允地反映公司截至 2025 年 9 月 30 日的财务状况和经营成果， 本着谨慎性原则，公司 2025 年第三季度确认信用减值损失 1,359.95 万元、资产 减值损失-195.11 万元，共计 1,164.85 万元，明细如下： 单位：人民币万元 | 项目 | 2025 年第三季 | | 备注 | | --- | --- | --- | --- | | | 度计提金额 | | | | 信用减值损失 | | | 主要系应收票据坏账损失、应收账款坏账损 失、应收款项融资坏账损失、其他应收款坏 | | | | 1,359.95 | | | | | | 账损失 ...

凌云光技术股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 投资者可于 2025 年 10月 31 日(星期五)至 2025 年 11 月 6 日(星期四)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 BODoffice@lusterinc.com 进行提问。公司将在业绩说明会上对投资者普遍关 注的问题进行回答。 凌云光技术股份有限公司（以下简称"公司"）将于 2025 年 10 月 30 日发 布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 7 日(星期五) 14:00-15:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2025 年第三季度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 证券代码：688400 证券简称：凌云光 公告编号：2025-082 本公司董事会及全体董事保 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥759,267,252.46, representing a year-on-year increase of 53.12%[4] - The total profit for the third quarter was ¥23,591,759.45, reflecting a growth of 56.16% compared to the same period last year[4] - The net profit attributable to shareholders was ¥36,585,014.05, an increase of 47.97% year-on-year[4] - The net profit excluding non-recurring gains and losses surged by 177.03% to ¥31,094,549.35 in the third quarter[4] - Basic and diluted earnings per share for the third quarter were both ¥0.08, marking a 60.00% increase compared to the previous year[5] - Total operating revenue for the first three quarters of 2025 reached ¥2,127,400,313.66, a 34.4% increase from ¥1,584,067,239.11 in the same period of 2024[21] - Operating profit for the first three quarters of 2025 was ¥115,192,369.02, compared to ¥82,846,856.31 in 2024, reflecting a growth of 39.0%[22] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was ¥132,660,476.08, up from ¥111,987,354.93 in 2024, marking a 18.5% increase[22] - The comprehensive income total for the first three quarters of 2025 was ¥133,478,616.98, compared to ¥108,362,814.11 in 2024, reflecting a growth of 23.2%[22] - Basic and diluted earnings per share for the first three quarters of 2025 were both ¥0.29, compared to ¥0.24 in 2024, an increase of 20.8%[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,004,785,930.19, up 10.01% from the end of the previous year[5] - The total liabilities increased to ¥1,980,434,888.53 in 2025 from ¥1,560,544,682.99 in 2024, representing a growth of 27.0%[21] - The total equity attributable to shareholders of the parent company rose to ¥4,037,623,785.70 in 2025, compared to ¥3,908,013,008.67 in 2024, an increase of 3.3%[21] - Current liabilities totaled CNY 539,628,424.77 as of September 30, 2025, compared to CNY 551,046,191.60 at the end of 2024, indicating a reduction in short-term obligations[30] - The company's total equity increased marginally to CNY 3,742,323,968.61 as of September 30, 2025, from CNY 3,742,140,007.07 at the end of 2024, reflecting stable shareholder value[30] Cash Flow - The company's cash and cash equivalents amounted to ¥770,894,761.56 as of September 30, 2025, down from ¥2,065,942,144.70 at the end of 2024[15] - Cash inflow from operating activities for the first three quarters of 2025 was CNY 1,765,966,891.71, an increase from CNY 1,727,006,350.50 in the same period of 2024[25] - Net cash flow from operating activities was negative CNY 165,279,309.26 in 2025, compared to negative CNY 121,196,664.15 in 2024, indicating a decline in operational efficiency[25] - Total cash inflow from investment activities increased significantly to CNY 1,564,631,390.08 in 2025 from CNY 1,015,371,382.90 in 2024, reflecting a strong investment recovery[26] - Net cash flow from investment activities was negative CNY 241,367,458.32 in 2025, worsening from negative CNY 119,119,161.99 in 2024, suggesting increased capital expenditures[26] - Cash inflow from financing activities rose to CNY 611,855,000.00 in 2025, compared to CNY 302,960,622.89 in 2024, indicating improved financing conditions[26] - The net cash flow from financing activities was positive CNY 18,989,284.18 in 2025, a decrease from CNY 68,397,677.91 in 2024, showing reduced reliance on external financing[26] Research and Development - Research and development expenses totaled ¥120,127,573.61, accounting for 15.82% of operating revenue, a decrease of 4.42 percentage points year-on-year[5] - Research and development expenses for the first three quarters of 2025 were ¥318,871,386.39, up from ¥291,953,176.74 in 2024, indicating a 9.2% increase[21] - Research and development expenses increased to CNY 165.19 million, a rise of 1.0% from CNY 163.50 million in the previous year[32] Shareholder Information - The total number of ordinary shares at the end of the reporting period was 28,008,000[12] - The largest shareholder, Yao Yi, holds 200,237,818 shares, representing 43.44% of total shares[12] - The company held 6,061,847 shares in its repurchase account, accounting for 1.32% of total shares[13] - The company has no significant changes in the participation of major shareholders in margin trading or stock lending[14] Market Focus - The company is focusing on AI and intelligent manufacturing applications, which are expected to drive future growth and market expansion[10] - The company has made significant progress in product layout and market expansion, particularly in AI-driven communication and computing products[10]

Core Points - The company has received acceptance from the Shanghai Stock Exchange for its application to issue A-shares to specific investors for the year 2024 [1] - The application documents were verified by the exchange and deemed complete and in accordance with legal requirements [1] - The issuance is subject to further approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission, with uncertainties regarding the approval process and timeline [1] Summary by Sections - **Company Announcement**: The company announced that it has received a notification from the Shanghai Stock Exchange regarding the acceptance of its application for issuing securities [1] - **Regulatory Compliance**: The application documents were confirmed to be complete and compliant with legal standards by the exchange [1] - **Future Steps**: The issuance is contingent upon passing the review by the Shanghai Stock Exchange and obtaining registration approval from the China Securities Regulatory Commission, indicating potential uncertainties in the approval process [1]

Core Viewpoint - Lingyun Optical Technology Co., Ltd. has shown significant stock performance this year, with a year-to-date increase of 88.72%, despite recent fluctuations in trading volume and price [1][2]. Financial Performance - For the first half of 2025, Lingyun achieved operating revenue of 1.368 billion yuan, representing a year-on-year growth of 25.73%, and a net profit attributable to shareholders of 96.075 million yuan, up 10.10% year-on-year [2]. - The company has distributed a total of 92.2845 million yuan in dividends since its A-share listing [3]. Stock Market Activity - As of October 28, Lingyun's stock price was 41.32 yuan per share, with a market capitalization of 19.048 billion yuan. The stock experienced a decline of 2.13% on that day [1]. - The stock has seen a trading volume of 99.3586 million yuan, with a turnover rate of 0.52% [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with a net purchase of 233 million yuan on February 20 [1]. Shareholder Information - As of September 30, the number of shareholders increased by 5.02% to 28,000, while the average circulating shares per person decreased by 4.78% to 16,458 shares [2]. - Notably, Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders as of June 30, 2025 [3]. Business Focus - Lingyun's main business segments include intelligent visual equipment (34.69%), configurable visual systems (30.97%), optical communication products (27.44%), visual devices (5.31%), and service revenue (1.59%) [2]. - The company is strategically focusing on the machine vision business, which is supported by its foundation in optical technology innovation [2].

Core Points - Lingyun Technology Co., Ltd. plans to issue A-shares to specific investors to raise up to 785 million yuan for the acquisition of 100% equity in Danish company JAI, which specializes in industrial cameras and possesses core technologies such as prism splitting [1] - The acquisition is expected to create goodwill of 634 million yuan and aims to enhance the company's capabilities in the machine vision sector, including technology, product, and market synergy [1] - As of October 27, 2025, Lingyun's stock closed at 42.22 yuan, with a market capitalization of 19.462 billion yuan, reflecting a slight decline of 0.05% from the previous trading day [1] Financial Performance - The company's net profits from 2022 to the first half of 2025 were reported as follows: 187.67 million yuan in 2022, 163.93 million yuan in 2023, 107.07 million yuan in 2024, and 96.08 million yuan in the first half of 2025, indicating a downward trend in profitability [1] - The stock's trading volume on the day of the report was 614 million yuan, with a turnover rate of 3.15% [1] Regulatory Aspects - The issuance of A-shares is subject to approval from the Shanghai Stock Exchange and registration with the China Securities Regulatory Commission [1]