Investment Rating - The report maintains a "Hold" rating for the company [1][17][22] Core Views - The company is expected to achieve a compound annual growth rate (CAGR) of 27% in net profit attributable to shareholders from 2024 to 2026, with projected net profits of 205 million, 263 million, and 334 million yuan for the respective years [1][22] - The company's revenue structure is continuously optimizing, with a slight increase in machine vision business revenue, which reached 1.88 billion yuan in 2023, a year-on-year increase of 2.96% [3][22] - The company is focusing on the machine vision business while strategically reducing its involvement in the optical communication sector, with expected order growth rates of -15% for the next three years in that segment [34] Summary by Sections Financial Performance - In 2023, the company reported total revenue of 2.641 billion yuan, a decrease of 3.92% year-on-year, and a net profit of 164 million yuan, down 12.65% [18][19] - The company’s gross margin for 2023 was 31.47%, a decline of 1.84 percentage points from the previous year [19] - The projected revenue for 2024 is 2.878 billion yuan, with a growth rate of 8.99%, and net profit is expected to rise to 205 million yuan, reflecting a growth rate of 24.77% [4][23] Business Segments - The machine vision segment is expected to see revenue growth rates of 18.7%, 27.5%, and 27.8% from 2024 to 2026, with gross margins improving slightly [22][23] - The optical communication segment is projected to decline, with revenue growth rates of -15% for the next three years [34] - The company is also expanding its presence in the new energy sector, benefiting from increased demand from major manufacturers [22] Valuation Metrics - The price-to-earnings (PE) ratio is projected to decrease from 53 in 2023 to 26 by 2026, indicating a more attractive valuation over time [4][22] - The report compares the company to peers in the machine vision industry, with an average PE of 30, 24, and 19 for the years 2024 to 2026 [22][23]

凌云光20240430_智能速览 2024年05月03日 07:51 关键词 姚总 业绩 研发 组织管理能力 机器视觉 苹果公司 深度学习 图像大模型 大模型 工业人工智能 元宇宙 艺 术 数据采集 媒体行业 工业元宇宙 视觉加AI 战略赛道 新能源 消费电子 文化元宇宙 全文摘要 公司描述了自己在人工智能、客户服务、技术研发、全球市场扩展以及新领域的布局等方面的战略方向 和实施成果。报告指出，虽然面临诸多挑战，如组织管理能力的不足、传统技术的限制以及市场竞争加 剧，但公司通过加大研发投入、优化资源配置、加强与重要客户的合作以及布局元宇宙等多元化发展战 略，成功地推动了自身的快速发展。特别是在智能制造和人工智能应用方面，公司展示了在提高生产效 率、产品质量和客户满意度方面的显著成效。此外，公司还通过技术创新和全球化布局，探索了新的增 长点，确立了在全球市场中的竞争优势。未来，公司将继续关注技术前沿，致力于成为人工智能和智能 制造领域的领导者。 章节速览 ● 00:00 姚总对公司及未来计划进行阐述 ● 09:02 年度工作汇报：重点聚焦技术发展与市场布局 本年度报告全面概述了公司的财务状况和业务进展情况。尽管 ...

Financial Performance - The company's Q1 2024 revenue was CNY 443.43 million, a decrease of 19.45% year-on-year[4] - The net profit attributable to shareholders was a loss of CNY 66.75 million, representing a decline of 165.62% compared to the same period last year[4] - The net cash flow from operating activities was negative at CNY 39.76 million, down 147.67% year-on-year[4] - Total operating revenue for Q1 2024 was CNY 443.43 million, a decrease of 19.5% compared to CNY 550.52 million in Q1 2023[22] - Net loss for Q1 2024 was CNY 9.08 million, compared to a net profit of CNY 8.82 million in Q1 2023[24] - Operating profit for Q1 2024 was CNY -10.12 million, worsening from CNY -5.50 million in Q1 2023[24] - The basic and diluted earnings per share were both CNY -0.01, a decrease of 150% year-on-year[4] - The company reported a basic loss per share of CNY -0.01 for Q1 2024, compared to earnings per share of CNY 0.02 in Q1 2023[24] Research and Development - R&D investment totaled CNY 103.55 million, accounting for 23.35% of revenue, an increase of 4.78 percentage points year-on-year[5] - The company maintained a steady focus on product R&D, with a year-on-year increase of 1.27% in overall R&D investment[6] - Research and development expenses for Q1 2024 were CNY 93.39 million, a decrease of 8.5% from CNY 102.25 million in Q1 2023[22] - Research and development expenses for Q1 2024 were CNY 48,097,043.47, down 10.7% from CNY 53,855,221.89 in Q1 2023[33] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4.93 billion, a decrease of 3.08% from the end of the previous year[5] - The company's total assets amounted to RMB 4,928,522,520.85, a decrease from RMB 5,085,195,018.26 at the end of 2023, reflecting a decline of approximately 3.08%[18] - The company's cash and cash equivalents stood at RMB 2,021,641,504.35, down from RMB 2,083,317,848.08, indicating a decrease of about 2.97%[18] - Total liabilities as of Q1 2024 were CNY 1,029.06 million, down from CNY 1,118.03 million in the previous year[20] - The company's total liabilities decreased to 601,616,016.46 RMB in Q1 2024 from 636,890,720.70 RMB at the end of 2023, reflecting a reduction of about 5.5%[32] - The company's total current liabilities were RMB 1,000,000,000, reflecting a significant increase compared to the previous period[19] - The long-term equity investments were reported at RMB 183,948,712.83, slightly down from RMB 184,165,167.60[19] Cash Flow - The company's cash flow from operating activities was impacted by a decrease in cash received from sales, which fell to 558,255,653.74 RMB in Q1 2024 from 760,193,715.51 RMB in Q1 2023, a decline of approximately 26.6%[26] - In Q1 2024, the company's cash flow from operating activities was negative at -39,761,229.88 RMB, a significant decline compared to a positive cash flow of 83,410,988.47 RMB in Q1 2023, representing a year-over-year change of approximately -148%[26] - The total cash inflow from operating activities decreased to 612,460,269.58 RMB in Q1 2024, down 25.4% from 821,728,247.94 RMB in Q1 2023[26] - The company reported a net cash outflow from investing activities of -88,719,054.29 RMB in Q1 2024, an improvement from -185,708,209.99 RMB in Q1 2023[27] - The company reported a significant increase in cash inflow from investment activities, totaling CNY 234,584,964.39 in Q1 2024 compared to CNY 51,007,050.00 in Q1 2023[36] Market Strategy - The decline in performance was primarily due to sales orders not converting into revenue due to delivery cycle factors[4] - The company is actively expanding its product and market layout in sectors such as consumer electronics, new energy, and cultural metaverse[6] - The company is focusing on new product development and market expansion strategies to enhance future growth prospects[19]

R&D Investment and Innovation - In 2023, the company's R&D investment reached 460 million, a year-on-year increase of over 20%[4] - The company added 199 new patents during the reporting period, including 59 invention patents, 126 utility model patents, and 14 design patents[4] - The F.Brain deep learning platform underwent two product iterations, significantly improving detection accuracy, efficiency, and usability, with applications in various industries[4] - The GMQM intelligent management system integrates with F.Brain, enhancing data collection efficiency by 80% and model deployment efficiency by 90%[4] - The Vision WARE algorithm platform has been updated to version 6.0, featuring 9 technical modules and over 150 algorithm toolkits, improving precision, efficiency, and stability[16] - The F.Brain algorithm platform has achieved significant breakthroughs in lightweight applications, enhancing accuracy and efficiency while reducing deep learning costs, with 51 patents obtained[16] - The company has developed a comprehensive optical imaging system and launched various camera types, including wide-spectrum short-wave infrared cameras and industrial 3D cameras, enhancing its competitive edge[16] - The company has developed an industrial general vision large model, F.Brain, which addresses numerous detection challenges in industrial manufacturing, showing good application results in consumer electronics, new energy, and printing packaging industries[21] - The company has established a leading domestic light field technology platform, which includes a large-scale multimodal light field database with over 1000 objects and more than 100,000 images[22] Market Expansion and International Presence - The company established subsidiaries in the US, Singapore, and Vietnam, marking initial international market expansion in consumer electronics and renewable energy[2] - The company aims to enhance its international capabilities by strengthening product standardization and building overseas sales channels[2] - The company expanded its market presence in Southeast Asia by establishing subsidiaries or offices in Vietnam, India, and Singapore, successfully delivering products overseas[41] Financial Performance - The company achieved an operating revenue of 2.641 billion yuan in 2023, a decrease of 3.92% year-on-year, while machine vision revenue grew by 2.96%, increasing its revenue share from 66.42% to 71.18%[40] - The net profit attributable to the parent company was 164 million yuan, a decrease of 12.65% year-on-year, while total assets increased by 1.42% to 5.085 billion yuan[40] - The company's cash flow from operating activities was 273 million yuan, indicating a positive trend in financial health[40] - The company's total revenue for the reporting period was 2.640 billion RMB, a decrease of 3.92% compared to 2.748 billion RMB in the previous year[177] - The net profit attributable to shareholders for 2023 was approximately RMB 163.93 million, down 12.65% from RMB 187.67 million in 2022[73] - The net cash flow from operating activities for 2023 was approximately RMB 272.82 million, a significant improvement from a negative cash flow of RMB 165.35 million in 2022[73] Industry Trends and Challenges - The machine vision industry in China is experiencing rapid growth, driven by new technologies such as deep learning, 3D vision, and artificial intelligence, expanding the market space significantly[11] - The demand for machine vision systems is increasing in high-end manufacturing sectors like consumer electronics, new energy, and automotive, driven by stricter quality and efficiency requirements[14] - The company faces risks related to talent retention in the competitive landscape of optical imaging and AI technology[137] - The company is exposed to risks from international trade tensions, which could impact the supply of key components and materials[164] Product Development and Technological Advancements - The company launched a series of new cameras, including a 3D camera and a 150 million pixel large-area camera, addressing challenges in high pixel imaging and 3D imaging[4] - The company successfully developed a soft wire connection system and a micro screw locking system, achieving a 99% success rate in connection and 100% locking yield, addressing automation challenges[18] - The integration of machine vision with automation is a key trend, with the company enhancing its capabilities to participate in the trillion-level smart equipment market[18] - The company has developed a new automated assembly line for consumer electronics, achieving a production efficiency (UPH) and yield improvement while reducing labor intensity[16] Strategic Focus and Future Plans - The company aims to continue expanding its application fields while solidifying its underlying technology in the machine vision sector[20] - The company aims to accelerate the application demand for machine vision in downstream industries through its "AI + Vision" strategy, which is expected to promote the replacement of labor with machines in the medium to long term[98] - The company is actively pursuing new technologies and applications, with projects like "ChatGLM large model key technology and demonstration application" expected to receive provincial-level awards in January 2024[35] Awards and Recognition - The company received the first prize in the industrial quality inspection challenge at the 2023 CVPR conference, highlighting its technological advancements in AI and vision[35] - The company has been recognized as a national-level "little giant" enterprise and has received multiple awards for its innovative products and technologies[34]

Financial Performance - The revised net profit attributable to the parent company, excluding non-recurring gains and losses, is CNY 12,226.22 million, a decrease of CNY 2,855.39 million, or 18.93% compared to the previous report[3]. - Total operating revenue for the reporting period is CNY 264,024.38 million, reflecting a decrease of 3.92% from CNY 274,878.27 million in the same period last year[15]. - The total profit for the reporting period is CNY 11,686.97 million, down 8.71% from CNY 12,982.77 million year-on-year[15]. - Basic earnings per share decreased to CNY 0.35, a decline of 23.91% from CNY 0.46 in the previous year[15]. - The weighted average return on net assets decreased by 2.76 percentage points to 4.24% compared to 7.00% in the same period last year[15]. Assets and Equity - Total assets at the end of the reporting period are CNY 511,867.57 million, an increase of 1.42% from CNY 501,416.34 million at the beginning of the period[20]. - Equity attributable to the parent company increased to CNY 398,244.67 million, up 2.05% from CNY 389,111.93 million year-on-year[20]. - The net asset per share attributable to the parent company is CNY 8.61, reflecting an increase of 2.02% from CNY 8.40 in the previous year[20]. Adjustments and Communication - The company has made adjustments to non-recurring gains and losses based on actual government subsidies and tax assessments[17]. - The company expresses apologies for any inconvenience caused to investors due to the adjustments made after communication with the auditing agency[21].

中国国际金融股份有限公司 关于凌云光技术股份有限公司 股东向特定机构投资者询价转让股份的核查报告 中国国际金融股份有限公司（以下简称"中金公司"、"组织券商"）受凌云光 技术股份有限公司（以下简称"凌云光"、"上市公司"）股东深圳市达晨创通股权 投资企业（有限合伙）（以下简称"达晨创通"或"出让方"）委托，组织实施本次 凌云光首次公开发行股票并在科创板上市前股东向特定机构投资者询价转让（以下简 称"本次询价转让"）。 根据《关于在上海证券交易所设立科创板并试点注册制的实施意见》《科创板上市 公司持续监管办法（试行）》《上海证券交易所科创板股票上市规则》（以下简称"《上 市规则》"）《上海证券交易所科创板上市公司股东以向特定机构投资者询价转让和配 售方式减持股份实施细则》（以下简称"《实施细则》"）等相关规定，中金公司对本 次询价转让的实施过程和出让方与受让方的合规性进行了审慎核查，并出具本核查报告。 具体情况如下： 一、本次询价转让概述 （一）本次询价转让出让方 | 序号 | 参与转让的股东名称 | 2024 月 | 截至 年 | 4 | 11 | 日收 | 持股比 | | --- | --- | --- | ...

股东深圳市达晨创通股权投资企业（有限合伙）保证向凌云光技术股份有限公 司（以下简称"凌云光"、"公司"）提供的信息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声明与 承诺自定义内容 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示: 本次询价转让的价格为 17.60 元/股，转让的股票数量为 4,635,000 股。 深圳市达晨创通股权投资企业（有限合伙）（以下简称"达晨创通"或 "转让方"）参与本次询价转让。达晨创通为公司持股 5%以上的股东， 非公司的控股股东、实际控制人、董事、监事及高级管理人员。 本次转让不会导致公司控股股东、实际控制人发生变化。 本次询价转让后， 达晨创通持股比例由 5.26%减少至 4.26%，减持股份比 例达到 1%且持有公司权益比例已降至 5%以下。 一、 转让方情况 (一)转让方基本情况 截至 2024 年 4 月 11 日，转让方所持公司股份的数量、比例情况如下： | 序号 | 参与转让的股东名称 | 截至 | 2024 | 年 | 4 月 | 11 日收盘持股数量（股） | 持股比例 ...

证券简称：凌云光 证券代码：688400 凌云光技术股份有限公司 简式权益变动报告书 上市公司名称：凌云光技术股份有限公司 股票上市地点：上海证券交易所 股票简称：凌云光 股票代码：688400 信息披露义务人：深圳市达晨创通股权投资企业（有限合伙） 住所：深圳市福田区沙头街道天安社区深南大道深铁置业大厦三十七层/三十八 层 股份变动性质：股份减持（持股比例降至 5%以下） 签署日期：2024 年 4 月 16 日 1 信息披露义务人声明 一、本报告书依据《中华人民共和国公司法》《中华人民共和国证券法》《上 市公司收购管理办法》《公开发行证券的公司信息披露内容与格式准则第 15 号 ——权益变动报告书》等法律、法规和规范性文件编写。 二、信息披露义务人签署本报告书已获得必要的授权与批准，其履行亦不违 反信息披露义务人内部规则中的任何条款，或与之相冲突。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》的规定，本 报告书已全面披露了信息披露义务人在凌云光技术股份有限公司中拥有权益的 股份变动情况。截至本报告书签署日，除本报告书披露的信息外，上述信息披露 义务人没有通过任何其他方式增加或减少在凌云光拥有权 ...

证券代码：688400 证券简称：凌云光 公告编号：2024-020 （三）初步确定的受让方为 11 家机构投资者，拟受让股份总数为 4,635,000 股。 二、风险提示 凌云光技术股份有限公司 股东询价转让定价情况提示性公告 股东深圳市达晨创通股权投资企业（有限合伙）保证向凌云光技术股份有限 公司（以下简称"凌云光"、"公司"）提供的信息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。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： 根据 2024 年 4 月 11 日询价申购情况，初步确定的本次询价转让价格为 17.60 元/股。 一、本次询价转让初步定价 （一）经向机构投资者询价，凌云光股东询价转让（以下简称"本次询价转 让"）初步确定的转让价格为 17.60 元/股，为凌云光股东询价转让发送认购邀请 书之日（即 2024 年 4 月 11 日，含当日）收盘价 19.35 元/股的 90.96%。 （二）参与本次询价转让报价的机构投资者家数为 13 家，涵盖了基金管理 公司、合格境外机构投资者、证券公司、私募基 ...

证券代码：688400 证券简称：凌云光 公告编号：2024-019 凌云光技术股份有限公司 经查，你公司于 2023 年 10 月 30 日向财务总监兼董事会秘书顾宝兴提供人 民币 300 万元用于购房，顾宝兴于 2023 年 12 月 26 日按 3%的年利率归还拆借 资金，本息合计人民币 301.4014 万元。上述事项构成关联方非经营性资金占用， 公司未就上述事项履行关联交易的审议程序，未按规定及时履行信息披露义务。 上述行为违反了《上市公司信息披露管理办法》(证监会令第 182 号)第三条、 第四条、第四十一条、第五十一条及《上市公司监管指引第 8 号——上市公司 资金往来、对外担保的监管要求》(证监会公告〔2022〕26 号)第五条的有关规定。 董事长兼总经理姚毅、财务总监兼董事会秘书顾宝兴未能勤勉尽责，对公司相 关违规行为负有责任。 根据《上市公司信息披露管理办法》(证监会令第 182 号)第五十二条和《上 市公司监管指引第 8 号——上市公司资金往来、对外担保的监管要求》(证监会 公告〔2022〕26 号)第二十三条的有关规定，我局决定对你们采取出具警示函的 行政监管措施，并将相关违规行为记入 ...