今天参会的嘉宾有副创经理副总经理宋阳总副创经理国际市场负责人李国辉总副创经理董事会秘书梁倩倩总副创经理财务总监杨爽总我是本次会议的主持人中信证券的半导体分析师王子元今天的会议我们将首先由董秘梁总开场词 最后由财务总监杨总介绍财务数据董立良总介绍业务数据最后是问答的环节接下来我们首先把时间交给杨总有请 各位投资人大家好欢迎参加公司2023年报及2024年一级报业绩交流会感谢大家对公司的关注与支持公司是国内半导体设备精密零部件的领军企业致力于金属零部件研发与制造是海内外半导体设备龙头企业的战略供应商主要提供工艺零件、结构零件、模组产品、气体管路产品 覆盖刻石、薄膜沉积等多种钱袋设备二三年是半导体行业增速较弱的一年公司逆产业投资加大研发投入和产能建设提前储备人才在拓展市场规模的同时利润端有所承压二四年一季度随着行业复苏及产能释放公司规模效应出现营收和利润实现同环比双增长 下面有请财务总监杨爽介绍公司2023年度及2024年一季度主要财务指标各位投资人大家好首先我来介绍一下公司2023年度的主要财务状况 2023年受益于国内半导体市场增长的需求以及零部件国产化需求的拉动公司实现总体的营收是20.6亿较2022年同期增 ...

证券代码：688409 证券简称：富创精密 公告编号：2024-033 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 5 月 31 日 沈阳富创精密设备股份有限公司 关于召开 2023 年年度股东大会的通知 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： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2023 年年度股东大会 召开日期时间：2024 年 5 月 31 日 14 点 00 分 召开地点：沈阳市浑南区飞云路 18 甲-1 号沈阳富创精密设备股份有限公司 A103 会议室 至 2024 年 5 月 31 日 股东大会召开日期：2024年5月31日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 （二） 股东大会召集人：董事会 （三） 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 （四） 现场会议召开的日期、时间和地点 采用上海证券交易所网络投票系统，通过交 ...

688409.SH 富创精密 富创精密 2023 年新工厂布局对毛利率造成负面影响。公司 2024Q1 营业收入同比实现 快速增长，新产能投放推动毛利率环比回升。公司在 Y-Al 和含氟涂层技术实现突破。 全球化布局旨在推动国际市占率提升。下调至增持评级。 支撑评级的要点 富创精密 2024Q1 营业收入环比实现稳健增长，毛利率环比实现回升。富创精密 2023Q4 营 业收入 6.76 亿元，QoQ+20%，YoY+27%；毛利率 21.3%，QoQ-5.1pcts，YoY-10.2pcts；扣 非归母净利润 0.49 亿元，QoQ+316%，YoY-8%。富创精密 2024Q1 营业收入 7.01 亿元， QoQ+4%，YoY+105%；毛利率 25.4%，QoQ+4.1pcts，YoY-3.8pcts；扣非归母净利润 0.54 亿元，QoQ+10%，YoY+1385%。考虑到一季度有春节影响，富创精密 2024Q1 营业收入依 然实现了环比增长，这体现了公司营业收入的韧性。富创精密 2023Q4 毛利率有所下滑，系 公司新工厂人工成本和设备折旧等费用增加，随着新工厂产能的开出，公司 2024Q1 毛利率 ...

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、准确性和完整性依法承担法律责任。 证券代码：688409 证券简称：富创精密 公告编号：2024-032 沈阳富创精密设备股份有限公司 截至 2024 年 4 月 30 日，公司通过上海证券交易所交易系统以集中竞价交易 重要内容提示： 截至 2024 年 4 月 30 日，沈阳富创精密设备股份有限公司（以下简称"公 司"）通过上海证券交易所交易系统以集中竞价交易方式已累计回购公司股份 2,856,124 股，占公司总股本 209,053,334 股的比例为 1.3662%，回购成交的最 高价为 86.00 元/股，最低价为 42.99 元/股，支付的资金总额为人民币 207,838,655.50 元（不含印花税、交易佣金等交易费用）。 一、 回购股份的基本情况 方式已累计回购公司股份 2,856,124 股，占公司总股本 209,053,334 股的比例为 1.3662%，回购成交的最高价为 86.00 元/股，最低价为 42.99 元/股，支付的资 金总额为人民 ...

Investment Rating - The report maintains an "Accumulate" rating for the company, indicating an expected relative price increase of 5% to 15% over the next six months [2][25]. Core Views - The company is experiencing short-term pressure on profitability due to increased costs associated with talent and equipment at new production bases, a higher proportion of low-margin module products, and increased R&D expenses [3][4]. - The company is positioned as a leading supplier of semiconductor components, benefiting from the domestic semiconductor equipment and component localization trend, with plans for significant capacity expansion in both domestic and international markets [3][4]. - The revenue forecast for 2024 and 2025 has been adjusted downwards to 250 million and 320 million respectively, reflecting cautious expectations regarding downstream recovery [3][4]. Financial Performance Summary - In 2023, the company achieved total revenue of 2,066 million, a year-on-year increase of 33.75%, while net profit attributable to shareholders was 168.69 million, a decrease of 31.28% [2][4]. - The company's gross margin and net margin for 2023 were 25.2% and 8.1%, respectively, both showing a decline compared to the previous year [3][9]. - The company’s earnings per share (EPS) for 2024 is projected at 1.20, with a price-to-earnings (P/E) ratio of 56.37 based on current market price [2][12].

请务必阅读正文之后的免责声明部分 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------|---------|-------|---------|-------|-----------------------------|-------|-------|-------|-------| | 现金流量表（百万元） | 2023A | 2024E | 2025E | 2026E | 重要财务与估值指标 | 2023A | 2024E | 2025E | 2026E | | 经营活动现金流 | (386) | 1,018 | (79) | 1,400 | 每股净资产 ( 元 ) | 21.84 | 21.91 | 23.46 | 25.42 | | 投资活动现金流 | (561) | (941) | (895) | (829) | 最新发行在外股份（百万股） | 209 | 209 | 209 | 209 | | 筹资活动现金流 | 532 | (258) | (60) | (60) | ROIC(% ...

Investment Rating - The report maintains an "Outperform" rating for the company, indicating a positive outlook compared to the market benchmark [15][21]. Core Insights - The company reported a revenue of 701 million yuan in Q1 2024, representing a year-on-year growth of 105.47%. The gross margin improved to 25.39%, an increase of 4.07 percentage points from the previous quarter. The net profit attributable to the parent company was 60.43 million yuan, up 53.42% year-on-year [15]. - The company is benefiting from strong demand from downstream customers, leading to significant revenue growth and gradually realizing economies of scale. The contribution of high-value complex module products to revenue has increased, with module products and gas pipelines accounting for 53.50% of total revenue in 2023, up from 40.62% in 2022 [15]. - Domestic demand remains robust, with local revenue growing by 72% year-on-year, while overseas revenue declined by 13%. The domestic revenue share increased from 54.0% in 2022 to 69.5% in 2023 [15]. - The company continues to invest in R&D, with expenditures reaching 206 million yuan in 2023, representing 9.97% of revenue, and a 25.01% increase in Q1 2024 R&D spending [15]. - The company is expanding its production capacity both domestically and internationally, with new factories planned in Nantong and Beijing, and subsidiaries established in Singapore and the United States [15]. - Profit margins are expected to improve as the company transitions from a capital-intensive phase to a more profitable operational phase, supported by a stock incentive plan aimed at enhancing employee motivation and performance [15]. Financial Summary - The total revenue for 2023 is projected at 2,066 million yuan, with a year-on-year growth rate of 33.75%. The net profit attributable to the parent company is expected to reach 169 million yuan, reflecting a significant recovery from a decline in the previous year [16]. - The company forecasts a net profit of 313 million yuan for 2024, with a growth rate of 85.7%, and aims for 494 million yuan in 2025 [16]. - The earnings per share (EPS) is projected to be 1.50 yuan in 2024, increasing to 2.36 yuan in 2025 and 2.88 yuan in 2026 [16].

Investment Rating - The report assigns a "Buy-A" rating to the company with a target price of 89.5 RMB for 2024 [8][33] Core Views - The company's revenue in 2023 reached 2.066 billion RMB, a year-on-year increase of 33.75%, while net profit attributable to the parent company decreased by 31.28% to 169 million RMB [1] - In Q4 2023, the company achieved revenue of 676 million RMB, up 27.03% year-on-year, but net profit attributable to the parent company fell by 55.37% to 37 million RMB [1] - For Q1 2024, the company's revenue surged 105.47% year-on-year to 701 million RMB, with net profit attributable to the parent company increasing by 53.42% to 60 million RMB [1][3] - The company's module product revenue in 2023 grew significantly by 126.13% to 925 million RMB, while structural parts revenue decreased by 1.75% to 491 million RMB [2] - The company's gross profit margin in 2023 was 25.20%, showing a declining trend due to increased costs from early investments in equipment and talent [2] Financial Performance - The company's 2023 revenue breakdown: module products (925 million RMB, +126.13%), structural parts (491 million RMB, -1.75%), process parts (457 million RMB, +11.95%), and gas pipelines (165 million RMB, -22.00%) [2] - For 2024-2026, the company is expected to achieve revenues of 2.975 billion RMB, 4.165 billion RMB, and 5.414 billion RMB, respectively, with net profits of 375 million RMB, 477 million RMB, and 603 million RMB [8] - The company's 2024 PE ratio is estimated at 50.00X, with a target price of 89.5 RMB [8] Business Overview - The company's products include process parts, structural parts, module products, and gas pipelines, primarily used in semiconductor equipment [32] - The company serves both domestic and international semiconductor equipment leaders, including domestic clients like Naura and AMEC, and international clients like Tokyo Electron and ASMI [32] - The company's products are applied in key semiconductor manufacturing processes such as etching, thin film deposition, lithography, and chemical mechanical polishing [32]

证券代码：688409 证券简称：富创精密 公告编号：2024-030 二、说明会召开的时间、地点 （一） 会议召开时间：2024 年 5 月 13 日(星期一)上午 9:00-10:00 沈阳富创精密设备股份有限公司 关于召开 2023 年度暨 2024 年第一季度 业绩说明会的公告 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。 重要内容提示： 投资者可于 2024 年 5 月 6 日(星期一)至 5 月 10 日(星期五)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 zhengquanbu@syamt.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 沈阳富创精密设备股份有限公司（以下简称"公司"）已于 2024 年 4 月 27 日发布《2023 年年度报告》、2024 年 4 月 30 日发布《2024 年第一季度报告》， 为便于广大投资者更全面深入地了解公司 2023 年度、2024 年第一季度经营成果、 财 ...

Financial Performance - The company's operating revenue for Q1 2024 reached ¥701,476,021.12, representing a year-on-year increase of 105.47%[3] - Net profit attributable to shareholders for the same period was ¥60,429,613.63, reflecting a growth of 53.42% compared to the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 1,384.83%, amounting to ¥54,027,306.43[3] - Basic earnings per share for the quarter stood at ¥52.63, driven by the increase in net profit attributable to shareholders[3] - Total operating revenue for Q1 2024 reached ¥701,476,021.12, a significant increase of 105.6% compared to ¥341,395,501.72 in Q1 2023[38] - Net profit for Q1 2024 was ¥50,826,577.08, representing a 31.5% increase from ¥38,621,889.28 in Q1 2023[40] - The net profit attributable to shareholders of the parent company for Q1 2024 was ¥60,429,613.63, compared to ¥39,388,111.47 in Q1 2023, marking a growth of 53.5%[40] - The company reported a total profit of ¥67,075,185.73 for Q1 2024, compared to ¥46,458,616.43 in Q1 2023, indicating a year-over-year increase of 44.4%[40] - Other income for Q1 2024 was ¥42,139,564.19, up from ¥21,295,576.27 in Q1 2023, reflecting a growth of 97.5%[38] - The total comprehensive income attributable to the parent company was 60,395,920.59, an increase from 39,770,840.14 in the previous period, reflecting improved profitability[50] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,498, with the largest shareholder holding 16.91% of the shares[12] - The company has not reported any significant changes in shareholder structure or major strategic shifts during the reporting period[41] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥80,464,953.10, indicating a cash outflow[28] - The net cash flow from operating activities was -80,464,953.10, an improvement from -97,081,512.78 in the previous period, indicating a reduction in cash outflow[43] - Cash inflow from investment activities totaled 912,475,920.00, significantly lower than 5,059,273,965.19 in the previous period, reflecting a decrease in investment recovery[43] - The net cash flow from investment activities was -347,148,758.24, compared to -468,023,529.05 in the previous period, showing a smaller loss[43] - Cash inflow from financing activities was 214,134,954.82, up from 110,324,511.36 in the previous period, indicating increased financing efforts[43] - The net cash flow from financing activities was 94,237,960.43, slightly lower than 97,427,192.83 in the previous period, suggesting stable financing conditions[43] - The cash and cash equivalents decreased to ¥1,245,083,984.12 from ¥1,578,704,403.38, representing a decline of approximately 21.14%[22] - The cash and cash equivalents at the end of the period were 1,207,722,867.11, down from 1,492,530,472.93 in the previous period, indicating a decrease in liquidity[44] - The cash outflow from operating activities totaled 610,591,119.80, compared to 436,398,867.84 in the previous period, reflecting increased operational expenses[43] Assets and Liabilities - As of March 31, 2024, total assets amounted to ¥7,591,584,263.40, a slight increase of 0.02% compared to ¥7,589,863,878.25 at the end of the previous year[22] - The total liabilities increased to ¥2,842,943,377.97 from ¥2,829,980,141.29, reflecting a growth of approximately 0.43%[23] - The equity attributable to shareholders of the listed company slightly decreased to ¥4,563,215,640.68 from ¥4,564,855,455.66, a decline of 0.04%[23] - The total current assets decreased to ¥3,908,238,496.24 from ¥4,076,810,157.16, a reduction of about 4.13%[22] - Non-current assets increased to ¥3,683,345,767.16 from ¥3,513,053,721.09, showing an increase of approximately 4.84%[22] - The total liabilities and shareholders' equity amounted to 7,591,584,263.40, showing stability in the company's financial structure[47] Research and Development - Research and development expenses totaled ¥47,047,391.14, accounting for 6.71% of operating revenue, a decrease of 4.31 percentage points compared to the previous year[28] - Research and development expenses for Q1 2024 amounted to ¥47,047,391.14, an increase of 25% from ¥37,634,797.41 in Q1 2023[38] - The company is committed to ongoing research and development of new products and technologies to maintain competitive advantage[9] Strategic Focus - The company experienced significant growth in revenue due to increased demand from downstream customers[9] - The company plans to continue leveraging scale effects to enhance profit margins in the future[9] - The company has identified key non-recurring gains and losses that significantly impacted financial results, which will be monitored closely going forward[9] - The company is focused on expanding its market presence and exploring potential mergers and acquisitions to drive future growth[9]