证券代码：688478 证券简称：晶升股份 公告编号：2025-027 南京晶升装备股份有限公司 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 05 月 20 日 （二） 股东大会召开的地点：江苏省南京经济技术开发区综辉路 49 号，公司会 议室 （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 | 27 | | --- | --- | | 普通股股东人数 | 27 | | 2、出席会议的股东所持有的表决权数量 | 77,502,258 | | 普通股股东所持有表决权数量 | 77,502,258 | | 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 | 56.5462 | | 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（%） | 56.5462 | （四） ...

Group 1: Haida Group - Haida Group has set short-term and medium-term goals for its feed business, targeting an increase of 3 million tons by 2025 and 51.5 million tons by 2030 [1] - The company emphasizes the importance of core technological capabilities, particularly in breeding technology, farming models, and feed technology [1] - The overseas strategy focuses on Southeast Asia, Africa, and South America, with capital expenditures aimed at overseas capacity construction and domestic equipment upgrades [1] - The company is exploring a light-asset, low-risk pig farming model and aims to maintain procurement advantages through technological research and development [1] - In aquaculture, factory-based shrimp farming will be a key focus, with plans for future expansion [1] - The company anticipates distributing 1.8 billion yuan in cash dividends for the fiscal year 2024 [1] Group 2: Jingsheng Technology - Jingsheng Technology experienced profit declines in Q4 2024 and Q1 2023 due to changes in product sales structure and reduced gross margins in the photovoltaic business [2] - The company is responding to these challenges by enhancing automation levels in control systems and advancing equipment upgrades [2] - Despite the profit decline, R&D expenses for 2024 are expected to increase by 16.39% compared to 2023, as the company views R&D investment as essential for enhancing core competitiveness [2] - The company aims to balance long-term investments with short-term benefits through cost optimization and efficiency improvements [2] - Jingsheng Technology plans to focus on top-tier enterprise clients in the silicon carbide industry to help them enhance market competitiveness while exploring other product demands [2] Group 3: Anji Technology - Anji Technology continues to invest in R&D in the fields of electroplating solutions and additives, with local production progressing smoothly in 2024 [3] - The company reports significant growth in functional wet electronic chemicals, particularly in post-etching and post-polishing cleaning solutions, with an increased proportion of advanced process products [3] - Anji Technology adheres to a globalization strategy, with ongoing collaboration projects with overseas clients [3] - The company expects an improvement in gross margins in 2024 due to product diversification and enhanced production efficiency [3] - In Q1 2025, revenue may not align with some clients' performance due to a broad business scope and low customer concentration, leading to cautious demand outlook in the second half of the year [3] - The company is strengthening its ability to supply core raw materials independently to enhance product stability and competitiveness [3]

Investment Rating - The investment rating for the company is adjusted to "Accumulate-A" [7] Core Views - The company's performance in 2024 was impacted by changes in product structure, leading to revenue growth pressure. The company is accelerating the expansion into new application areas such as photovoltaics and epitaxial equipment [2][4] - In 2024, the company achieved a revenue of 425 million yuan, a year-on-year increase of 4.78%, while the net profit attributable to the parent company was 54 million yuan, a decrease of 24.32% [1][9] - The company is focusing on R&D, with a 16.39% increase in R&D expenses to 44.25 million yuan, accounting for 10.41% of revenue [2][9] Financial Performance - In Q4 2024, the company reported a revenue of 100 million yuan, a decline of 39.90% year-on-year, and a net profit of -1 million yuan, a decrease of 102.29% [1][2] - The overall gross margin for 2024 was 26.07%, down 7.39 percentage points, with the first quarter gross margin at 4.53%, down 29.17 percentage points [2][9] - The company expects revenues of 539 million yuan, 646 million yuan, and 755 million yuan for 2025, 2026, and 2027 respectively, with net profits projected at 65 million yuan, 79 million yuan, and 95 million yuan for the same years [7][9] Product Development and Market Position - The company is a major domestic manufacturer of silicon carbide single crystal furnaces, with a focus on expanding its product range and upgrading technology [7] - The company has successfully supplied 8-inch silicon carbide single crystal furnaces to the market, indicating a shift from 6-inch to 8-inch substrates [3][4] - The company is leveraging AI technology in its photovoltaic automation systems to enhance control precision and improve crystal growth rates [4]

半导体材料 晶升股份（688478.SH） 增持-A(下调) 产品结构变化致业绩增长承压，拓展光伏、外延设备等新应用领域 2025 年 5 月 12 日 公司研究/公司快报 公司近一年市场表现 事件描述 公司披露 2024 年年度报告及 2025 年一季度报告。2024 年实现营业收入 4.25 亿元/+4.78%，归母净利润 0.54 亿元/-24.32%，扣非归母净利润 0.30 亿 元/-28.70%。其中单 Q4 实现营业收入 1.0 亿元/-39.90%，归母净利润-0.01 亿 元/-102.29%，扣非归母净利润 0.04 亿元/-72.79%。 事件点评 市场数据：2025 年 5 月 9 日 收盘价（元）： 29.31 年内最高/最低（元）： 37.49/21.02 流通A股/总股本（亿）： 1.03/1.38 流通 A 股市值（亿）： 30.31 总市值（亿）： 40.56 基础数据：2025 年 3 月 31 日 基本每股收益(元)： -0.02 摊薄每股收益(元)： -0.02 产品结构变化致 24H2 业绩增长承压，加速拓展产品序列。2024 年，公 司不断拓展技术应用领域，加速拓展 ...

证券代码：688478 证券简称：晶升股份 公告编号：2025-026 南京晶升装备股份有限公司 关于开立理财专用结算账户的公告 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、准确性和完整性承担法律责任。 1、公司将严格按照《上海证券交易所科创板股票上市规则》《南京晶升装备 股份有限公司章程》以及公司《募集资金管理制度》等有关规定办理相关现金管 理业务。 2、公司财务部相关人员将及时分析和跟踪投资产品的投向、项目进展情况， 如评估发现存在可能影响公司资金安全的风险因素，将及时采取相应保全措施， 控制理财风险。 3、公司审计委员会、独立董事有权对资金使用情况进行监督与检查，必要 时可以聘请专业机构进行审计。 南京晶升装备股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日召开 了第二届董事会第十一次会议及第二届监事会第十次会议，审议通过了《关于使 用部分暂时闲置募集资金进行现金管理的议案》，同意在确保募集资金投资项目 正常进行、保证募集资金安全和公司正常经营的情况下，使用最高额度不超过人 民币 55,000.00 万元的闲置募集资金进行现金管 ...

南京晶升装备股份有限公司 2024 年年度股东大会会议资料 证券代码：688478 证券简称：晶升股份 南京晶升装备股份有限公司 2024 年年度股东大会会议资料 2025 年 5 月 | 目录 | | --- | | 2024 年年度股东大会会议须知 | | 1 | | --- | --- | --- | | 年年度股东大会会议议程 2024 | | 3 | | 2024 年年度股东大会会议议案 | | 6 | | 议案一：关于 2024 | 年度董事会工作报告的议案 | 6 | | 议案二：关于 2024 | 年度监事会工作报告的议案 | 14 | | 议案三：关于 2024 | 年年度利润分配预案的议案 | 19 | | 议案四：关于 2025 | 年度董事薪酬方案的议案 | 20 | | 议案五：关于 2025 | 年度监事薪酬方案的议案 | 21 | | | 议案六：关于续聘会计师事务所的议案 | 22 | | 议案七：关于 2024 | 年度财务决算报告的议案 | 25 | | | 议案八：关于变更注册地址、取消监事会、修订《公司章程》并办理工商变更登记的 | | | 议案 | | 32 | | ...

Core Viewpoint - Nanjing Jingsheng Equipment Co., Ltd. (stock code: 688478) reported a revenue of 425 million yuan for 2024, a year-on-year increase of 4.78%, while net profit attributable to shareholders decreased by 24.32% to 53.74 million yuan due to industry cycle fluctuations and increased R&D investments [1][2]. Group 1: Financial Performance - The company achieved a revenue of 425 million yuan in 2024, reflecting a growth of 4.78% compared to the previous year [1]. - The net profit attributable to shareholders was 53.74 million yuan, representing a decline of 24.32% year-on-year [1]. Group 2: R&D Investment - R&D expenses reached 44.25 million yuan in 2024, marking a 16.39% increase from the previous year, accounting for 10.41% of total revenue [2]. - The focus of R&D funding is on optimizing the processes for large-size silicon carbide equipment and semiconductor-grade single crystal silicon furnaces, preparing for the next industry recovery [2]. Group 3: Product Offering and Market Position - The company provides customized products such as semiconductor-grade single crystal silicon furnaces and silicon carbide single crystal furnaces, which are core products contributing significantly to revenue [1]. - Jingsheng Equipment is one of the few companies in China to achieve mass production of 8-inch silicon carbide single crystal furnaces, with significant revenue growth in this segment [2]. - The SCMP series single crystal furnaces have been successfully supplied in batches, ensuring equipment support for the transition to larger size silicon carbide substrates over the next 3 to 5 years [2].

半导体设备国产化浪潮中，南京晶升装备股份有限公司(688478.SH，下称"晶升股份")作为国内晶体生 长设备领域的行业龙头，其2024年财报备受关注。 在半导体行业周期波动与国产替代提速的双重背景下，公司交出了一份"营收稳增、利润承压"的成绩 单。4月29日发布的公司年报显示，2024年全年营收4.25亿元，同比增长4.78%；归母净利润5374.71万 元，同比下滑24.32%。 众所周知，在半导体级单晶硅炉领域，尤其是12英寸大尺寸设备市场，长期由少数几家国际巨头主导技 术标准和市场份额，如PVA TePla AG(德国)，KAYEX(美国)。而晶升股份通过自主研发实现12英寸半导 体级单晶硅炉国产化，尤其是公司SCG300系列单晶硅炉实现COP-FREE硅片量产，可满足19nm存储芯 片需求，且解决了晶体直径控制、液面距离测量、工艺窗口优化等核心问题，其设备已在国内多家硅片 厂商实现产业化应用，打破了海外垄断，逐步替代进口设备。 据悉，公司12英寸单晶硅炉已通过沪硅产业、立昂微等客户验收。机构分析，该类产品市场占有率已从 2023年的9%-15%提升至约20%，国产替代逻辑持续强化。 从政策角度讲，《 ...

Financial Performance - The company reported a total revenue of 70.81 million yuan for Q1 2025, a decrease of 12.69% year-on-year compared to 81.11 million yuan in Q1 2024 [1] - The net profit attributable to the parent company was -2.53 million yuan, representing a decline of 117.1% from a profit of 14.82 million yuan in the same quarter last year [1] - The gross margin fell to 4.53%, down 86.15% year-on-year from 32.70% [1] - The net margin turned negative at -3.58%, a decrease of 119.58% from 18.27% in the previous year [1] - The company's accounts receivable increased by 38.76% year-on-year, reaching 157 million yuan [1] Operational Insights - The company has a healthy cash asset position, with a total financing of 1.125 billion yuan and cumulative dividends of 62.26 million yuan since its listing [3] - The return on invested capital (ROIC) was reported at 3.25%, indicating a weak capital return [3] - The company has faced challenges with cash flow, as the average operating cash flow over the past three years has been negative [3] Industry Trends - The silicon carbide industry is experiencing cost pressures, but there are signs of recovery with decreasing substrate prices and expanding applications [5] - The company has seen improved order intentions from downstream customers, indicating a potential uptick in demand [5] - The company has successfully delivered and validated its 8-inch silicon carbide equipment for approximately 80% of its customers, with ongoing improvements in yield [5] Future Outlook - The company is optimistic about maintaining revenue growth in 2025, despite anticipated challenges from industry fluctuations and market competition [5] - Strategies to address profit pressures include enhancing operational efficiency, optimizing the supply chain, and developing high-value new products [5] - The company is exploring the integration of its automation technologies into robotics through collaborations and partnerships [7]

Core Insights - The company reported a total revenue of 425 million yuan in 2024, reflecting a year-on-year growth of 4.78%, but the growth rate significantly slowed compared to 82.70% in 2023 [4] - Net profit attributable to shareholders decreased by 24.32% to 53.74 million yuan, while the net profit excluding non-recurring items fell by 28.70% to 30.23 million yuan, indicating challenges in cost control and profitability [4][5] - The gross profit declined from 132 million yuan in 2023 to 111 million yuan, a decrease of 16.67%, highlighting issues in cost management [4] Revenue and Profitability - Despite a slight increase in revenue, the company struggled with a significant drop in net profits and net profits excluding non-recurring items, suggesting ineffective cost management and operational efficiency [4][5] - The fourth quarter showed particularly poor performance, with revenue declining by 39.9% year-on-year and a net loss of 630,000 yuan, a decrease of 102.3% [4] Research and Development - The company increased its R&D expenditure to 44.25 million yuan in 2024, a growth of 16.39%, accounting for 10.41% of total revenue [5] - The company and its subsidiaries obtained a total of 95 domestic patents during the reporting period, including 38 invention patents and 57 utility model patents, enhancing its competitiveness in the semiconductor crystal growth equipment sector [5] Talent and Governance - The company made significant progress in talent acquisition and development, with a total of 210 employees by the end of 2024, of which 85 were R&D personnel, representing 40.48% of the workforce, an increase of 19.72% year-on-year [6] - The company is enhancing its internal governance by improving operational compliance and internal control management systems, which is expected to strengthen management efficiency and support long-term stable development [6]