证券代码：688401 证券简称：路维光电 公告编号：2025-032 深圳市路维光电股份有限公司 关于持股 5%以上股东减持股份计划公告 公司近日收到股东国投创业基金的《减持股份计划告知函》，由于自身资金 安排需要，国投创业基金计划以集中竞价交易和大宗交易方式减持其持有的公司 股份，合计减持数量不超过 1,933,338 股，即不超过公司总股本的 1.00%,将于 本公告披露之日起十五个交易日后的三个月内进行。 | 股东名称 | 国投（上海）科技成果转化创业投资基金企业（有限合伙） | | --- | --- | | 股东身份 | 控股股东、实控人及一致行动人 □是 √否 | | | 直接持股 5%以上股东 √是 □否 | | | 董事、监事和高级管理人员 □是 √否 | | | 其他：无 | 一、减持主体的基本情况 1 | 持股数量 | 11,217,912股 | | --- | --- | | 持股比例 | 5.80% | | 当前持股股份来源 | IPO 前取得：7,167,912股 | | | 其他方式取得：4,050,000股 | 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 ...

证券代码：688401 证券简称：路维光电 公告编号：2025-031 深圳市路维光电股份有限公司 2024年年度股东大会决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 5 月 9 日 （二） 股东大会召开的地点：深圳市南山区南山街道桂湾社区梦海大道 5035 号华润前海大厦 A 座 9 楼 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 45 | | --- | --- | | 普通股股东人数 | 45 | | 2、出席会议的股东所持有的表决权数量 | 82,898,261 | | 普通股股东所持有表决权数量 | 82,898,261 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 43.1495 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 43. ...

观意字2025SZ000033号 致：深圳市路维光电股份有限公司 北京观韬（深圳）律师事务所（以下简称"本所"）接受深圳市路维光电股 份有限公司（以下简称"公司"）的委托，指派律师列席公司于2025年5月9日召 开的2024年年度股东大会（以下简称"本次股东大会"），并依据《中华人民共 和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下 简称"《证券法》"）、中国证券监督管理委员会《上市公司股东会规则》（以 下简称"《股东会规则》"）等中国现行法律、法规和规范性文件以及《深圳市 路维光电股份有限公司章程》（以下简称"《公司章程》")、《深圳市路维光电 股份有限公司股东大会议事规则》（以下简称"《议事规则》"）的有关规定， 就本次股东大会的召集和召开程序、出席会议人员资格、表决程序、表决结果等 事项进行见证，并出具本法律意见书。 北京观韬（深圳）律师事务所 关于深圳市路维光电股份有限公司 2024年年度股东大会的 法律意见书 本法律意见书仅为本次股东大会之目的而使用，不得用于其他任何目的或用 途。本所同意公司将本法律意见书作为本次股东大会文件予以公告。 根据有关法律、法规和规范性文件的要求， ...

证券代码：688401 证券简称：路维光电 公告编号：2025-030 公司董事会将按照上述批复文件和相关法律法规的要求以及公司股东大会 的授权，在规定期限内办理本次向不特定对象发行可转换公司债券的相关事 项，并及时履行信息披露义务，敬请广大投资者注意投资风险。 一、同意公司向不特定对象发行可转换公司债券的注册申请。 二、公司本次发行应严格按照报送上海证券交易所的申报文件和发行方案 实施。 三、本批复自同意注册之日起12个月内有效。 四、自同意注册之日起至本次发行结束前，公司如发生重大事项，应及时 报告上海证券交易所并按有关规定处理。 深圳市路维光电股份有限公司 关于向不特定对象发行可转换公司债券申请获得 中国证券监督管理委员会同意注册批复的公告 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。 深圳市路维光电股份有限公司（以下简称"公司"）于近日收到中国证券 监督管理委员会出具的《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），现将批复文件 主要内容公告如下： ...

Core Viewpoint - The company reported strong revenue and profit growth for 2024 and Q1 2025, driven by increased demand in downstream industries and capacity expansion [1][2]. Financial Performance - In 2024, the company achieved revenue of 876 million yuan, a year-on-year increase of 30.21%, and a net profit attributable to shareholders of 191 million yuan, up 28.27% [1][2]. - For Q1 2025, the company reported revenue of 260 million yuan, a year-on-year growth of 47.09%, and a net profit of 49 million yuan, an increase of 19.66% [1][2]. Growth Drivers - The revenue and profit growth in 2024 and Q1 2025 were primarily due to strong downstream demand and steady capacity enhancement [2]. - High-end products such as AMOLED, advanced packaging, FMM, and PSM contributed significantly to revenue growth [2]. Exchange Rate Impact - The profit growth rate for Q1 2025 was affected by foreign exchange losses, with financial expenses increasing by 14.8 million yuan due to yen fluctuations, leading to a 24.9 percentage point decline in net profit growth [2]. Revenue Structure - The main revenue source remains the flat panel display mask, with significant growth in OLED mask sales driving overall growth [2]. - The semiconductor mask segment is emerging as a second growth curve, with advanced packaging masks performing well [2]. R&D Investment - In 2024, the company invested 37.6 million yuan in R&D, representing 4.30% of revenue, a slight decrease of 0.94 percentage points [3]. - The company has established long-term partnerships with major players in the flat panel display and semiconductor industries, enhancing its technological capabilities [3]. Capacity Expansion - The company is steadily advancing multiple expansion projects, including new production lines for semiconductor and high-precision flat panel display masks, expected to start production in 2025 [4]. - The company is also developing a semiconductor mask project aimed at 40nm and 28nm nodes, with initial production expected in 2025 [4]. Investment Outlook - Revenue projections for 2025-2027 are 1.07 billion yuan, 1.568 billion yuan, and 2.362 billion yuan, with net profits of 252 million yuan, 292 million yuan, and 495 million yuan respectively [5]. - The company is expected to maintain a high growth trajectory due to ongoing capacity expansion and increasing domestic mask penetration [5].

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company reported a revenue of approximately 880 million yuan for 2024, representing a year-on-year growth of about 30.2%. The net profit attributable to shareholders was approximately 190 million yuan, with a year-on-year increase of about 28.3%. The gross margin was approximately 34.8%, showing a slight decline of 0.3 percentage points [5] - In Q1 2025, the company achieved a revenue of approximately 260 million yuan, a year-on-year growth of about 47.1%, but a quarter-on-quarter decline of about 4.7%. The net profit attributable to shareholders was approximately 50 million yuan, with a year-on-year increase of about 19.7% and a quarter-on-quarter decline of about 29.6% [5] - The strong performance in 2024 and Q1 2025 is attributed to high demand in the mask plate downstream market, steady capacity expansion, product structure adjustments towards high-end AMOLED and advanced packaging products, and effective cost control [5] Financial Performance Summary - The company expects net profits for 2025, 2026, and 2027 to be approximately 296 million, 403 million, and 583 million yuan respectively, with corresponding P/E ratios of 22.14, 16.26, and 11.23 [9] - The revenue for 2024 is projected at 876 million yuan, with a year-on-year growth of 30.2%. The gross margin is expected to be 34.8% [13] - The company is also expected to see a rise in the revenue contribution from semiconductor mask plates, with ongoing projects aimed at producing 40nm and 28-40nm mask plates [8][9]

QYResearch的观点和数据因被众多国内外知名企业、证券公司及媒体频繁引用与转载，而享有高度的 品牌知名度。其权威认证确保了所提供的行业分析及定制报告的可信度与专业度，是业界信赖的优选。 0 1 恒州博智的LED照明报告被深圳民爆光电公司中的年报引用 民爆光电（301362）2024年度管理层讨论与分析 据恒州博智发布的《2023年中国LED照明行业全景图谱》显示，2023年，全球LED防爆照明市场销售额达到 了49亿元，并预测在2028年将达到79亿元，期间的复合年增长率（CAGR）约为7.8%。这一增长可归因于 LED防爆灯在石油和采矿、军事基地、机场以及其他商业和工业领域的广泛应用，这些领域对于安全照明有着 极高的要求。 来源：证券之星 更多：https://stock.stockstar.com/RB2025040100020605.shtml 最新报告推荐：2025年全球及中国极端温度LED照明企业出海开展业务规划及策略研究报告 0 2 深圳思创策划咨询有限公司引用了恒州博智出版的外墙翻新服务市场分析报告 深圳建筑外立面改造项目可行性研究报告——市场分析 根据 QYR（恒州博智）的统计及预测，2 ...

Summary of Luvi Optoelectronics Conference Call Company Overview - **Company**: Luvi Optoelectronics - **Industry**: Semiconductor and Display Technology Key Financial Performance - **2024 Revenue Growth**: Achieved a significant revenue increase of 30% year-on-year, with a notable 43.2% growth in Q4 [2][3] - **Net Profit Growth**: Net profit attributable to shareholders increased by 28%, with a remarkable 72.55% growth in Q4 [2][3] - **Q1 2025 Performance**: Revenue rose by 47% year-on-year, driven by strong downstream demand and capacity enhancements, while net profit growth was 20% due to foreign exchange losses [2][5] Expansion Plans - **Semiconductor Equipment**: New semiconductor-specific equipment was added by the end of 2024, with plans to expand four production lines through a convertible bond project [2][6] - **Production Trials**: Plans to initiate trial production of 90nm and 40nm products in Suzhou and Chengdu, respectively, in 2025 [4][10] - **Major Projects**: Ongoing projects include the revival of semiconductor production and the Xiamen display template base project, with a total investment of 2 billion yuan [14][15] Market Dynamics - **Masking Board Demand**: The demand for masking boards is non-linearly related to the performance of downstream industries, with a 30% average compound growth rate over the past five years [2][8] - **Domestic Market Growth**: Increased domestic demand and the acceleration of wafer plant construction are expected to drive domestic substitution and growth in the masking board market [2][8] Industry Trends - **Semiconductor and Display Growth**: Both industries are experiencing growth, with increasing demand for mature process chips and advancements in panel technology [9] - **OLED and LCD Revenue Structure**: In 2024, OLED accounted for 40% and LCD for 60% of the display business, with OLED surpassing 50% in Q1 2025 [4][13] Competitive Landscape - **Market Position**: The company maintains a competitive edge through stable development, robust revenue growth, and leading profitability, despite intense competition in the semiconductor and display sectors [4][23] - **Future Market Share Goals**: The company aims to achieve a 30% market share in the domestic display masking board market within five years [16][17] Financial Management - **Impact of Tariffs**: U.S. tariffs have had no negative impact on the company, while Chinese counter-tariffs may protect domestic masking board manufacturers [4][12] - **Exchange Rate Management**: The company plans to enhance foreign exchange management to mitigate profit volatility caused by currency fluctuations [31] R&D and Product Development - **Technological Advancements**: The company has made significant progress in covering 130nm and below processes, with ongoing efforts to advance to 90nm and lower [21][22] - **Focus on High-Precision Templates**: Emphasis on developing high-precision templates for both display and semiconductor applications [26] Order Visibility and Market Demand - **Order Visibility**: The company has a one-month order visibility, with strong demand expected to continue into Q2 2025 [27] - **Market Demand Trends**: Anticipated strong demand for large-size displays, particularly in the TV segment, with the company being a key supplier for the domestic market [27] Future Outlook - **Investment Plans**: The company is set to continue investing in both the panel and semiconductor sectors, with a focus on expanding production capabilities and market share [28][29]

【WitsView整理】 近日，京东方、彩虹股份、 TCL科技、 三利谱、蓝黛科技、晶合集成、路维 光电、翰博高新、康冠科技9家显示相关企业相继披露2025年第一季度报告。具体如下： 2025年第一季度，京东方实现营业收入505.99亿元，同比增长10.27%，创一季度收入历史新高； 实现归属于上市公司股东净利润16.14亿元，同比增长64.06%；扣除非经常性损益后的净利润13.52 亿元，同比增长126.56%。 | 项目 | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | | --- | --- | --- | --- | --- | | | | | (%) | | | 营业收入(元) | 50.598.933.939.00 | 45,887,570,444.00 | | 10.27% | | 归属于上市公司股东的净利 | 1,613,999,380.00 | 983.812.692.00 | | 64.06% | | 润(元) | | | | | | 归属于上市公司股东的扣除 非经常性损益的净利润 | 1.351.864.713.00 | 596.689.345.00 | | 126.56 ...

Core Viewpoint - The global flat panel display mask market is expected to grow significantly, driven by increasing demand for larger screens and high-resolution technologies, with the market size projected to reach approximately 7 billion yuan in 2024 and 7.55 billion yuan in 2025 [1][7][9]. Group 1: Industry Definition and Classification - The mask plate, also known as photomask, is a critical component in microelectronics manufacturing, serving as a carrier of graphic designs and process technology [2][3]. - Photomasks are categorized into flat panel display masks and semiconductor masks, with flat panel display masks further divided by panel size and display technology [3]. Group 2: Current Industry Development - The flat panel display mask market is experiencing continuous growth due to rising average TV sizes, demand for large-screen mobile devices, and advancements in technologies like LTPO [7][9]. - The global flat panel display mask market is projected to reach approximately 7 billion yuan in 2024, an increase of 500 million yuan from 2023, and is expected to grow to about 7.55 billion yuan in 2025 [7][9]. Group 3: Industry Chain - The upstream materials for the flat panel display mask industry include mask substrates, optical films, chemical reagents, and packaging materials, with mask substrates playing a crucial role in product precision and quality [11]. - The downstream applications include manufacturing TFT-LCDs, AMOLEDs, and other display technologies, with end products spanning televisions, monitors, smartphones, and automotive displays [11]. Group 4: Competitive Landscape - China is the largest panel manufacturing base globally, accounting for over 60% of global capacity, but the domestic mask production capacity is relatively weak, with major international brands like Photronics and HOYA dominating the high-end market [13][16]. - Key domestic players in the flat panel display mask sector include Qingyi Optoelectronics, Luwei Optoelectronics, and others, with Qingyi and Luwei being the leading companies in high-generation and high-precision mask segments, respectively [13][16]. Group 5: Key Companies - Qingyi Optoelectronics reported a revenue of 827 million yuan and a net profit of 120 million yuan in the first three quarters of 2024, with significant contributions from quartz masks [16][18]. - Luwei Optoelectronics achieved a revenue of 603 million yuan and a net profit of 121 million yuan in the same period, being the only domestic company with a full-generation production line from G2.5 to G11 [20][22]. Group 6: Industry Development Trends - The demand for large-size and high-precision masks is increasing, indicating that these factors will be crucial for the development of China's flat panel display mask industry [24]. - The market share in the flat panel display mask sector is concentrated, and there is significant room for improvement in the localization rate of high-precision products [24].