Group 1 - The core announcement is regarding the public offering of restricted shares by the company, specifically the listing of 77,621,400 shares [1] - The type of stock being listed is classified as initial public offering restricted shares [1] - The shares will be available for trading starting from August 18, 2025 [1]

Group 1 - The company Luvi Optoelectronics (SH 688401) announced that approximately 77.62 million restricted shares will be unlocked and listed for trading on August 18, 2025, accounting for 40.15% of the total share capital [2] - For the fiscal year 2024, the company's revenue composition is as follows: the mask plate industry accounts for 99.96%, while other businesses account for 0.04% [2]

Core Viewpoint - The company Luvi Optoelectronics (688401.SH) announced the total number of shares available for circulation upon listing, which is 77.6214 million shares, with the listing date set for August 18, 2025, due to the preceding day being a non-trading day [1] Summary by Category - **Company Information** - Luvi Optoelectronics will have a total of 77.6214 million shares listed for circulation [1] - The official listing date is August 18, 2025, as August 17, 2025, is a non-trading day [1]

| 证券代码：688401 | 证券简称：路维光电 | 公告编号：2025-059 | | --- | --- | --- | | 转债代码：118056 | 转债简称：路维转债 | | 深圳市路维光电股份有限公司 关于可转债投资者适当性要求的风险提示性公告 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。 重要内容提示： 根据相关法律法规规定及《深圳市路维光电股份有限公司向不特定对象发 行可转换公司债券募集说明书》的约定，深圳市路维光电股份有限公司（以下 简称"公司"）本次发行的"路维转债"自2025年12月17日起可转换为公司股 份。 公司现就本次向不特定对象发行可转换公司债券，对不符合上海证券交易 所科创板股票投资者适当性要求的投资者所持"路维转债"不能转股的风险， 提示如下： 一、可转换公司债券发行上市概况 （一）可转换公司债券发行情况 经中国证券监督管理委员会《关于同意深圳市路维光电股份有限公司向不 特定对象发行可转换公司债券注册的批复》（证监许可〔2025〕979号）同意， 公司向不特定对象发行人民币615,00 ...

| 证券代码：688401 | 证券简称：路维光电 | 公告编号：2025-058 | | --- | --- | --- | | 转债代码：118056 | 转债简称：路维转债 | | 深圳市路维光电股份有限公司 首次公开发行部分限售股上市流通公告 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。 重要内容提示： 本次股票上市类型为首发限售股份；股票认购方式为网下，上市股数为 77,621,400股。 （一）关于限售安排、自愿锁定股份、延长锁定期限的承诺 本次股票上市流通总数为77,621,400股。 本次股票上市流通日期为2025 年 8 月 18 日（因 2025 年 8 月 17 日为非交 易日故顺延至 2025 年 8 月 18 日）。 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于 2022 年 7 月 12 日签发的《关于同意深圳市 路维光电股份有限公司首次公开发行股票注册的批复》（证监许可〔2022〕1476 号）， 公司首次向社会公开发行人民币普通股（A 股）股票 33,333,600 股，并于 ...

国信证券股份有限公司 关于深圳市路维光电股份有限公司 首次公开发行部分限售股上市流通的核查意见 国信证券股份有限公司（以下简称"国信证券"或"保荐机构"）作为深圳 市路维光电股份有限公司（以下简称"公司"或"路维光电"）首次公开发行股 票并在科创板上市的保荐机构。根据《中华人民共和国公司法》《中华人民共和 国证券法》《证券发行上市保荐业务管理办法（2025年修正）》《上海证券交易 所科创板股票上市规则（2025年4月修订）》等有关规定，对公司首次公开发行 部分限售股上市流通的事项进行了核查，核查情况如下： 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于2022年7月12日签发的《关于同意深圳市路 维光电股份有限公司首次公开发行股票注册的批复》（证监许可〔2022〕1476 号），公司首次向社会公开发行人民币普通股（A股）股票33,333,600股，并于 2022年8月17日在上海证券交易所科创板上市。公司发行后总股本为133,333,600 股，其中有限售条件流通股为104,871,326股，无限售条件流通股为28,462,274股。 本次上市流通的限售股为公司首次公开发行部分限售股（包含因公司实 ...

Group 1 - The semiconductor sector experienced a decline of 1.9% on August 8, with Dazhong Semiconductor leading the drop [1] - The Shanghai Composite Index closed at 3635.13, down 0.12%, while the Shenzhen Component Index closed at 11128.67, down 0.26% [1] - Notable gainers in the semiconductor sector included Zhongchuan Special Gas, which rose by 7.31%, and Yuanjie Technology, which increased by 4.66% [1] Group 2 - The net outflow of main funds in the semiconductor sector was 7.774 billion yuan, while retail investors saw a net inflow of 4.642 billion yuan [3] - The overall fund flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are actively buying [3]

Core Viewpoint - The company, Shenzhen Luwei Optoelectronics Co., Ltd., has shown significant growth in revenue and profit, indicating a strong market position in the mask plate industry, which is crucial for microelectronics manufacturing [2] Company Overview - Shenzhen Luwei Optoelectronics specializes in the research, production, and sales of mask plates, serving industries such as flat panel displays, semiconductors, touch screens, and circuit boards [2] - The company is the only domestic manufacturer capable of producing mask plates for all generations from G2.5 to G11, supporting various panel production lines [2] - Luwei Optoelectronics has developed a dual core product line focusing on flat panel display mask plates and semiconductor mask plates, establishing a development strategy of "screen-driven chip" [2] Financial Performance - For the first quarter of 2025, Luwei Optoelectronics reported a revenue of 260.1 million yuan, a year-on-year increase of 47.09% [2] - The net profit attributable to shareholders was 49.15 million yuan, reflecting a year-on-year growth of 19.66% [2] - The company's net profit excluding non-recurring items was 44.83 million yuan, up 19.9% year-on-year [2] Shareholder Structure - As of March 2025, the concentration of shareholding is high, with the top ten shareholders holding a combined 57.53% of shares [2] - The top ten circulating shareholders account for 35.6% of the shares, indicating a concentrated ownership structure [2] - The number of shareholders is 8,257, with an average circulating shareholding of 14,010 shares per person and an average holding amount of 461,400 yuan [2]

Group 1 - The report emphasizes the coexistence of strategic opportunities and risk challenges in the economic landscape, marking a shift from short-term recovery to long-term foundation building in policy focus [1][2] - It highlights the need for macroeconomic policies to accelerate bond issuance and ensure the stability of three key areas, while also advocating for targeted support in sectors like technology and consumption [1][2] - The report notes a renewed emphasis on boosting domestic demand by fostering new growth points in service consumption, linking the improvement of people's livelihoods directly to consumption expansion [1][2] Group 2 - The report identifies three significant breakthroughs in industrial policy, transitioning from conceptual advocacy to practical implementation, addressing market pain points, and institutionalizing capacity governance [2] - In the foreign trade sector, it discusses a balanced approach of defense and progress, promoting high-level free trade zone construction and the integration of domestic and foreign trade [2] - The report outlines a proactive approach to risk resolution, focusing on eliminating hidden debts and ensuring energy supply to safeguard people's livelihoods [2] Group 3 - Domestic economic data shows stability and resilience, with previous growth stabilization policies gradually taking effect, while new macro policies are expected to further stimulate demand [3] - The report indicates that August will be a critical period for verifying mid-year performance, with a focus on sectors and stocks that may exceed expectations [3] - It mentions that despite increased market risk factors, the positive momentum from policies remains unchanged, particularly in the technology sector, which includes areas like computing power, artificial intelligence, and consumer electronics [3] Group 4 - The report recommends a stock portfolio for August, highlighting strong performers from July, including Dingjie Zhishi (+43.58%) and Lianrui New Materials (+25.03%), among others [6] - The recommended stocks for August cover various sectors, including telecommunications, technology, pharmaceuticals, and chemicals, indicating a diversified investment strategy [6][14] - The report notes that the average increase in the recommended portfolio for July was +10.71%, outperforming major indices [6][12]

Core Viewpoint - The credit rating report for Shenzhen Luwei Optoelectronics Co., Ltd. maintains a stable outlook, reflecting the company's competitive position in the flat panel display mask field, significant growth in supply to core customers, and improved production capacity and efficiency, despite facing risks related to supplier concentration and international trade policies [3][5][6]. Company Overview - Shenzhen Luwei Optoelectronics Co., Ltd. (stock code: 688401.SH) has maintained an AA- credit rating, consistent with the previous rating, indicating strong operational performance and cash flow generation [3][5]. - The company has a high concentration of core customers, with the top five customers accounting for 73.70% of sales, which poses a risk if their demand fluctuates [6][16]. Financial Performance - As of March 2025, total assets reached 23.44 billion, with equity attributable to shareholders at 14.42 billion, and operating income of 2.60 billion, reflecting a significant increase from previous years [3][7]. - The net profit for 2024 was reported at 0.49 billion, with a notable increase in operating cash flow, indicating improved cash generation capabilities [3][5]. Market Environment - The domestic flat panel display and semiconductor mask market is experiencing continuous growth, driven by the demand for larger displays and advancements in AMOLED technology [9][10]. - China's flat panel display production capacity is projected to exceed 60% of global capacity by 2024, indicating a strong market position for domestic manufacturers [9][10]. Operational Efficiency - The company has improved its production capacity and efficiency, with a significant increase in equipment utilization rates, reaching 93.08% in 2024 [17]. - The company introduced over 100 new customers in 2024, expanding its customer base to over 400, which has contributed to revenue growth [16]. Investment and Expansion - The company plans to invest 20 billion in a new production base in Xiamen, focusing on high-precision AMOLED mask products, which will increase production capacity but also create financial pressure [6][18]. - The total investment for expansion projects is estimated at 24.21 billion, with significant portions allocated to semiconductor and high-precision flat panel display mask production [18]. Risks and Challenges - The company faces risks related to high supplier concentration, with 83.41% of raw materials sourced from the top five suppliers, primarily from Japan and South Korea, which could be impacted by international trade policies [5][19]. - The reliance on imported equipment and materials poses a risk to operational continuity if trade restrictions are imposed [19].