证券代码：688401 证券简称：路维光电 深圳市路维光电股份有限公司 投资者关系活动记录表 编号：2024-007  特定对象调研  分析师会议  媒体采访  业绩说明会 投资者关系  新闻发布会  路演活动 活动类别  现场调研  电话会议  其他 2023年度业绩说明会暨 2024 年一季度业绩说明会 国盛证券、平安养老、中金公司、嘉实基金、上海泾溪投资管理合伙 参与单位名 企业（有限合伙）、北京玺悦资产管理有限公司、万江资产、长江证 称 券、富国基金、鹏华基金、华宝基金、平安基金、信达澳亚、英大证 券、中科沃土基金 调研时间 2024年 5月9日-2024年5月 10日 会议地点 公司会议室 上市公司接 董事长、总经理：杜武兵 待人员姓名 董事、常务副总经理、董事会秘书：肖青 董事、财务负责人：刘鹏 独立董事：李玉周 ...

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 2023 年度持续督导跟踪报告 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"路维光电"或"上市公司"）首次公开发 行股票并在科创板上市项目的保荐机构，根据《证券发行上市保荐业务管理办法 （2023 年修订）》《上海证券交易所科创板股票上市规则（2024 年 4 月修订）》 《上海证券交易所上市公司自律监管指引第 11 号——持续督导（2023 年修订）》 等相关规定，负责路维光电上市后的持续督导工作，并出具 2023 年度持续督导 跟踪报告。 | 序号 | 工作内容 | 实施情况 | | --- | --- | --- | | 1 | 建立健全并有效执行持续督导工作制度，并针对具体 | 保荐机构已建立健全并有效 | | | | 执行了持续督导制度，并制定 | | | 的持续督导工作制定相应的工作计划。 | 了相应的工作计划。 | | 2 | 根据中国证监会相关规定，在持续督导工作开始前， | 保荐机构已与上市公司签署 | | | | 了保荐协议，协议明确了双方 | | | | 在持续督导期间的权利和 ...

证券代码：688401 证券简称：路维光电 深圳市路维光电股份有限公司 2023 年年度股东大会会议资料 2024 年 5 月 会议资料目录 | 2023 | 年年度股东股东大会会议须知 | 2 | | --- | --- | --- | | 2023 | 年年度股东大会会议议程 | 4 | | 2023 | 年年度股东大会会议议案 | 7 | | | 议案一：《关于 2023 年度董事会工作报告的议案》 | 7 | | | 议案二：《关于 2023 年度监事会工作报告的议案》 | 8 | | | 议案三：《关于 2023 年度公司财务决算报告的议案》 | 9 | | | 议案四：《关于 2023 年年度报告全文及摘要的议案》 | 10 | | | 议案五：《关于 2023 年度利润分配预案的议案》 | 11 | | | 议案六：《关于 2024 年度公司及子公司向金融机构申请综合授信额度并为子公司提供 | | | | 担保的议案》 | 13 | | | 议案七：《关于董事、高级管理人员薪酬的议案》 | 14 | | | 议案八：《关于监事薪酬的议案》 | 15 | | | 议案九：《关于续聘 2024 年度 ...

Investment Rating - The investment rating for the company is "Accumulate (Maintain)" [4] Core Views - The company reported a revenue of 672 million yuan for 2023, representing a year-on-year growth of 5.06%. The net profit attributable to shareholders reached 149 million yuan, a year-on-year increase of 24.23% [4][5] - The company is expanding its market presence and optimizing its product structure, which has contributed to profit growth. In Q1 2024, the company achieved a revenue of 177 million yuan, a year-on-year increase of 30.10% [4][10] - The company has established stable supply relationships with several well-known panel manufacturers, covering the entire generation of display panels from G2.5 to G11, which is expected to drive revenue growth as OLED penetration increases [4][10] - The semiconductor business is progressing well, with close cooperation with major domestic manufacturers on projects in the 130-28nm range [4][10] Financial Summary - For 2023, the company achieved a revenue of 672 million yuan, with a projected revenue of 880 million yuan for 2024, 1.112 billion yuan for 2025, and 1.365 billion yuan for 2026 [5][6] - The net profit attributable to shareholders for 2023 was 149 million yuan, with projections of 208 million yuan for 2024, 273 million yuan for 2025, and 339 million yuan for 2026 [5][6] - The gross margin for 2023 was 35.10%, expected to increase to 36.30% in 2024 and further to 38.10% by 2026 [5][6] - The company’s P/E ratios are projected to be 39.90 for 2024, 24.60 for 2025, and 15.13 for 2026 [5][6] Cash Flow and Investment - The operating cash flow for 2023 is reported at 167 million yuan, with projections of 146 million yuan for 2024, 324 million yuan for 2025, and 440 million yuan for 2026 [12] - The company is expected to maintain a positive cash flow trend, with significant capital expenditures planned for future growth [12][13]

路维光电（688401.SH） | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------|-------|-------|-------|-------|-------|------------------------------------------|----------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入（维持评级） | | | 营业收入（百万元） | 640 | 672 | 925 | 1,191 | 1,476 | | | | 增长率 yoy （ % ） | 29.7 | 5.1 | 37.6 | 28.7 | 23.9 | 股票信息 | | | 归母净利润（百万元） | 120 | 149 | 216 | 274 | 332 | 行业 | 电子 | | 增长率 yoy （ % ） | 129.0 | 24.2 | 45.2 | 26.7 | 21.4 | 2024 年 4 月 29 日收盘价（元） | 26.84 | | ROE （ % ） ...

路维光电(688401)/电子 证券研究报告/公司点评 2024 年 5 月 4 日 | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The report maintains a "Buy-A" investment rating with a target price of 36.05 CNY for the next six months [7][24]. Core Insights - The company has shown significant growth in Q1 2024, with revenue reaching 177 million CNY, a year-on-year increase of 30.1%, and a net profit of 41 million CNY, up 44.56% year-on-year [4][21]. - The semiconductor mask market is experiencing a shift towards domestic production, with the company actively investing in key technologies and production lines to meet the growing demand [2][5]. - The company is expanding its product offerings in the flat panel display sector, focusing on high-end mask products to cater to the increasing resolution and performance requirements of downstream manufacturers [6][22]. Financial Performance - The company reported a revenue of 672.4 million CNY for 2023, a 5.06% increase from the previous year, and a net profit of 149 million CNY, reflecting a 24.23% growth [4][25]. - The gross margin for Q1 2024 was 35.58%, an increase of 2.63 percentage points year-on-year, indicating improved operational efficiency and cost management [21][24]. - The company is projected to achieve revenues of 897 million CNY, 1.18 billion CNY, and 1.49 billion CNY for 2024, 2025, and 2026 respectively, with net profits expected to reach 200 million CNY, 281 million CNY, and 361 million CNY in the same period [24][25].

证券代码：688401 证券简称：路维光电 公告编号：2024-023 深圳市路维光电股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2023/12/16，由公司实际控制人、控股股东、董 | | --- | --- | | | 事长、总经理杜武兵先生提议 | | 回购方案实施期限 | 2023/12/15~2024/12/14 | | 预计回购金额 | 50,000,000 元~80,000,000 元 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 累计已回购股数 | 1,891,079 股 | | 累计已回购股数占总股本比例 | 0.98% | | 累计已回购金额 | 50,652,852.96 元 | | 实际回购价格区间 | 21.960 元/股~30.741 元/股 | 2023 年 12 月 15 日，公司召开第 ...

目前所有线上投资者均处于静音状态下面恢复会议声明未经本平台及主办方书面授权许可任何机构或个人不得以任何形式转发翻版复制发布或引用本词会议全部或部分内容不得制作会议纪要对外发送擅自制作会议纪要引起不当传播的后果自负 为保证会议流畅进行目前所有线上投资者均处于静音状态在主讲嘉宾发言结束后将留有提问时间下面介绍出席本次会议的领导陆伟光电董事财务负责人刘总接下来进入互动交流环节欢迎各位投资者积极提问下面播报提问方式大家好如需提问电话端参会者请输入数字五件申请提问 在允许发言后按数字6键解除静音网络端参会者请在底部功能栏点击举手按钮申请已提问或点击问答按钮进行文字提问谢谢如需提问电话端参会者请输入数字5键申请提问在允许发言后按数字6键解除静音 网络端参会者请在底部功能栏点击举手按钮申请评议提问或点击问答按钮进行文字提问 谢谢再次播报提问方式 如需提问电话端参会者请输入数字5件申请提问在允许发言后按数字6件解除禁音网络端参会者请在底部功能栏点击举手按钮申请离题问或点击问答按钮进行文字提问谢谢下面进入会前征集的文字问题请问贵公司行业景气度如何 各位投资者 尊敬的投资者下午好非常感谢你们今天参加我们2024年度的第一次的就是 ...

Financial Performance - The company's operating revenue for Q1 2024 was CNY 176,819,171.71, representing a year-on-year increase of 30.10%[5] - The net profit attributable to shareholders for the same period was CNY 41,074,574.23, reflecting a growth of 44.56% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 59.16%, amounting to CNY 37,393,253.25[5] - Basic earnings per share for Q1 2024 was CNY 0.21, up by 50.00% year-on-year[6] - Total operating revenue for Q1 2024 reached ¥176,819,171.71, a 30.1% increase from ¥135,909,244.13 in Q1 2023[19] - Net profit for Q1 2024 was ¥38,640,152.04, compared to ¥24,234,876.93 in Q1 2023, reflecting a 59.7% increase[20] - Earnings per share for Q1 2024 were ¥0.21, up from ¥0.14 in Q1 2023[20] - The company reported a profit before tax of ¥44,581,259.57 for Q1 2024, compared to ¥28,237,830.21 in Q1 2023, an increase of 57.9%[20] Research and Development - The total R&D investment reached CNY 10,648,718.04, which is an increase of 34.45% compared to the same period last year[6] - Research and development expenses increased to ¥10,648,718.04 in Q1 2024, compared to ¥7,920,288.99 in Q1 2023, marking a 34.5% rise[19] Cash Flow and Liquidity - The cash flow from operating activities showed a net outflow of CNY 26,471,858.39, a decrease of 56.23% year-on-year due to increased cash payments for goods and services[8] - In Q1 2024, the cash inflow from operating activities was $179,714,015.27, a decrease of 7.8% compared to $193,729,198.49 in Q1 2023[23] - The company reported a net cash flow from operating activities of $26,471,858.39, down 56.2% from $60,475,025.15 in the previous year[23] - The total cash and cash equivalents at the end of Q1 2024 stood at $342,596,516.55, down from $629,822,268.17 at the end of Q1 2023[24] - The company experienced a net decrease in cash and cash equivalents of -$42,925,183.37 in Q1 2024, contrasting with an increase of $12,617,579.22 in Q1 2023[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,204,514,317.02, down by 5.08% from the end of the previous year[6] - As of March 31, 2024, the total current assets amounted to ¥773,807,170.40, a decrease of 17.5% from ¥937,983,939.52 on December 31, 2023[15] - The company's total liabilities decreased to ¥704,894,650.74 in Q1 2024 from ¥812,032,627.72 in Q1 2023, a reduction of 13.3%[19] - Total equity attributable to shareholders was ¥1,453,167,383.60 in Q1 2024, slightly down from ¥1,461,670,576.89 in Q1 2023[19] - The total assets decreased to ¥2,204,514,317.02 from ¥2,322,589,909.48, indicating a decline of 5.1%[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 5,962[10] - The company reported a total of 10 major shareholders, with no changes in their participation in margin trading or securities lending[14] Future Plans - The company plans to continue expanding its market presence and enhancing product structure to improve profitability[8] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[19] Other Financial Metrics - The weighted average return on net assets was 2.82%, an increase of 0.73 percentage points compared to the previous year[6] - Total operating costs for Q1 2024 were ¥133,534,920.86, up 15.9% from ¥115,175,208.45 in Q1 2023[19] - Cash received from investment recoveries was $60,000,000.00, a decrease of 76% compared to $250,000,000.00 in Q1 2023[23] - The company paid $84,243,255.69 for the acquisition of fixed assets, a decrease of 59% from $205,940,630.29 in the same quarter last year[23] - The cash inflow from borrowing was $15,000,000.00, down from $100,000,000.00 in the previous year, indicating reduced reliance on debt financing[24]