Group 1: Financial Performance - In the first three quarters of 2024, the company achieved operating revenue of 334 million CNY, a year-on-year increase of 50.20% [1] - Net profit reached 93.99 million CNY, with a year-on-year growth of 33.47% [1] - The net profit from operating activities was 74.63 million CNY, reflecting a year-on-year increase of 53.63% [1] - The net cash flow from operating activities was 48.77 million CNY, down 28.64% year-on-year [2] Group 2: Quarterly Highlights - In Q3 2024, the company reported operating revenue of 112 million CNY, a year-on-year increase of 26.78% but a quarter-on-quarter decrease of 4.86% [2] - The net profit for Q3 was 31.88 million CNY, showing a year-on-year growth of 12.0% and a quarter-on-quarter increase of 2.53% [2] - The non-recurring net profit for Q3 was 26.04 million CNY, with a year-on-year increase of 27.4% and a quarter-on-quarter growth of 2.57% [2] Group 3: Profitability Metrics - The gross profit margin for the first three quarters of 2024 was 55.98%, an increase of 2.18 percentage points year-on-year [2] - In Q3 2024, the gross profit margin was 58.61%, up 3.95 percentage points year-on-year and 3.47 percentage points quarter-on-quarter [2] - Excluding the impact of high-margin technology transfer income, the gross profit margin for Q3 remained stable at approximately 56.38% [2] Group 4: Business Development - The automotive electronics segment accounted for approximately 20% of total revenue as of the end of September 2024 [2] - The company is increasing R&D investment and product development in the automotive electronics sector, enhancing market share in in-car heads-up displays and infotainment systems [2]

Group 1: Financial Performance - As of the end of September, the company's gross profit margin was 55.98% [2] - The revenue for the second and third quarters was 117 million RMB and 112 million RMB, respectively, representing year-on-year growth of 42.81% and 26.78% [5] - The company aims for a 50% year-on-year revenue growth in 2024, with a target of 150 million RMB in the fourth quarter [5] Group 2: Cash Management and Investment - The company has over 1 billion RMB in disposable cash and plans to enhance cash management to improve fund utilization efficiency [2] - R&D expenses for the year totaled 74.76 million RMB, accounting for 22.41% of operating revenue [4] Group 3: Business Segments and Market Strategy - Automotive electronics account for approximately 20% of revenue, while commercial display and accessories, micro-displays, and industrial and communication sectors make up 80% [2] - The company is focusing on high-speed mixed-signal chips and has established a strong market position in high-definition video chips and high-speed data transmission chips [7] Group 4: Challenges and Future Outlook - The company faces challenges such as supply chain delivery issues and market uncertainties due to industry conditions and international trade environments [5] - The company is committed to continuous innovation and expanding its product matrix to capture market opportunities in the AI era and 8K product iterations [7] Group 5: Incentive Plans - The company approved a stock incentive plan on January 29, 2024, granting 123.67 million shares at a price of 70.00 RMB per share to 132 recipients [8]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 20% relative to the market benchmark within the next six months [13]. Core Insights - The company achieved a revenue of 330 million yuan in the first three quarters of 2024, representing a year-over-year increase of 50%. The net profit attributable to the parent company was 90 million yuan, up 33% year-over-year [1]. - The gross margin for Q3 2024 saw a significant recovery, reaching 58.61%, which is an increase of 3.47 percentage points quarter-over-quarter and 3.95 percentage points year-over-year. This recovery may indicate an improvement in industry conditions and market competition [2]. - The company has increased its R&D expenditure to 28 million yuan in Q3 2024, a year-over-year increase of 48%, which supports its growth strategy, particularly in the automotive Serdes segment [2]. - The company launched several new chip series in H1 2024, contributing to a 20% revenue share from its automotive display business, which is currently its fastest-growing segment [3]. Financial Performance and Forecast - The company is projected to achieve revenues of 463 million yuan, 640 million yuan, and 874 million yuan for the years 2024, 2025, and 2026, respectively, with corresponding net profits of 140 million yuan, 205 million yuan, and 299 million yuan [5]. - The report indicates an upward revision of previous forecasts, reflecting a positive outlook for the company's financial performance [5]. - Key financial ratios show a revenue growth rate of 34.1% for 2023, expected to rise to 43.4% in 2024, and a net profit growth rate of 48.4% for 2023, projected to be 33.5% in 2024 [11].

Financial Performance - Revenue for Q3 2024 reached ¥111,790,027.46, an increase of 26.78% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2024 was ¥31,882,351.95, reflecting a 12.00% year-over-year increase[2] - Year-to-date revenue as of Q3 2024 totaled ¥333,590,792.16, marking a 50.20% increase compared to the same period last year[7] - Year-to-date net profit attributable to shareholders reached ¥93,986,760.90, up 33.47% year-over-year[8] - The net profit attributable to shareholders of the parent company for Q3 2024 was ¥93,986,760.90, an increase from ¥70,415,590.76 in Q3 2023, representing a growth of approximately 33.6%[18] - Operating profit for Q3 2024 reached ¥99,653,797.06, compared to ¥70,239,665.78 in Q3 2023, reflecting a growth of approximately 41.9%[20] - The total comprehensive income for Q3 2024 was ¥93,986,756.17, compared to ¥70,415,590.76 in Q3 2023, marking an increase of around 33.6%[18] - The total profit for Q3 2024 was ¥99,052,048.79, compared to ¥73,035,654.92 in Q3 2023, which is an increase of around 35.6%[20] Research and Development - R&D expenses for Q3 2024 amounted to ¥28,320,262.95, representing 25.33% of revenue, an increase of 3.68 percentage points from the previous year[3] - Year-to-date R&D expenses totaled ¥74,760,709.37, which is 52.41% higher than the previous year[3] - Research and development expenses for Q3 2024 amounted to ¥74,760,709.37, up from ¥49,053,860.64 in the same period last year, indicating a year-over-year increase of about 52.4%[20] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of ¥48,768,363.21 year-to-date, a decrease of 28.64% compared to the previous year[2] - Cash flow from operating activities for the first nine months of 2024 was ¥48,768,363.21, down from ¥68,343,640.77 in the same period of 2023, showing a decrease of about 28.7%[20] - The net cash flow from investment activities was 750,306,104.20, a significant improvement from -829,143,079.71 in the previous period, indicating a positive turnaround in investment performance[21] - The net increase in cash and cash equivalents was 643,186,619.59, up from 248,274,394.26 in the previous period, showing improved liquidity[21] - The ending balance of cash and cash equivalents reached 755,519,431.93, compared to 311,079,340.20 in the previous period, highlighting a strong cash position[21] Shareholder Information - As of September 30, 2024, the company has repurchased a total of 867,474 shares, representing 0.85% of the total share capital of 102,280,590 shares[12] - The maximum repurchase price was adjusted to RMB 58.65 per share after the annual equity distribution, down from RMB 88.00 per share[12] - The total amount spent on share repurchases reached RMB 59,201,883.18, excluding transaction fees[12] - The top shareholder, Chen Feng, holds 38,495,035 shares, accounting for 37.64% of the total shares[9] - The second-largest shareholder, Hefei Saifu Heyuan Venture Capital Center, holds 7,386,520 shares, representing 7.22%[9] - The total number of ordinary shareholders at the end of the reporting period was 3,955[9] Assets and Liabilities - Total assets as of the end of Q3 2024 were ¥1,444,470,341.91, a decrease of 2.83% from the end of the previous year[3] - Current assets totaled CNY 1,321,959,255.39, slightly down from CNY 1,373,368,514.70, indicating a decrease of 3.8%[15] - The company's total liabilities increased to CNY 67,345,645.72 from CNY 57,070,543.66, marking a rise of 17.9%[16] - The equity attributable to shareholders decreased to CNY 1,377,124,696.19 from CNY 1,429,466,358.91, a decline of 3.7%[16] Market Strategy - The company is focusing on expanding its market presence and developing new technologies to enhance its competitive edge[16] Accounting and Reporting - The company is set to implement new accounting standards starting in 2024, which may affect future financial reporting[22]

证券代码：688486 证券简称：龙迅股份 公告编号：2024-070 龙迅半导体（合肥）股份有限公司 关于召开 2024 年第三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： 会议问题征集：投资者可于 2024 年 10 月 17 日（星期四）至 10 月 23 日 （星期三）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 yzhao@lontium.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。 龙迅半导体（合肥）股份有限公司（以下简称"公司"）将于 2024 年 10 月 23 日在上海证券交易所网站（www.sse.com.cn）披露《龙迅股份 2024 年第三季 度报告》。为便于广大投资者更全面深入地了解公司 2024 年第三季度经营成果、 财务状况，公司计划于 2024 年 10 月 24 日（星期四）上午 09:00-10:00 举行 2024 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次业绩 ...

证券代码：688486 证券简称：龙迅股份 公告编号：2024-069 龙迅半导体（合肥）股份有限公司 关于以集中竞价交易方式回购公司股份实施结果 暨股份变动的公告 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。。 重要内容提示： 因公司已实施 2023 年年度权益分派事项，本次以集中竞价交易方式回购股份 价格上限由不超过人民币 88.00 元/股（含）调整为不超过人民币 58.65 元/股（含）。 具体内容详见公司于 2024 年 6 月 4 日在上海证券交易所网站（www.sse.com.cn） 披露的《龙迅股份关于 2023 年度权益分派实施后调整回购股份价格上限的公告》 （公告编号：2024-041）。 二、 回购实施情况 1、2024 年 2 月 21 日，公司首次实施回购股份，公司通过上海证券交易所交 易系统以集中竞价交易方式首次回购公司股份 59,111 股，占公司当时总股本 69,264,862 股的比例为 0.0853%，回购成交的最高价为 84.14 元/股，最低价为 83.05 元/股，支付的资金总额为人 ...

Investment Rating - The report initiates coverage with a "Buy" rating for Longxin Co., Ltd. [5][6] Core Views - Longxin Co., Ltd. specializes in the research and development of high-speed mixed-signal chips, with significant potential in AR/VR and automotive applications [2][4] - The company has developed over 140 different chip models, supporting various signal protocols, and has successfully entered the supply chains of several well-known domestic and international enterprises [2][12] - The global market for high-definition video bridging chips is expected to reach 5.574 billion yuan by 2025, with a CAGR of 20.02% from 2020 to 2025 [3][12] - Longxin's target market space is projected to reach 17.5 billion yuan by 2025, driven by diverse applications in security monitoring, video conferencing, automotive displays, and AR/VR [3][12] Summary by Sections 1. Company Overview - Longxin Co., Ltd. focuses on data/video transmission, video processing, and display driver chips, providing comprehensive solutions for high-definition multimedia display [12] - The company has a strong competitive position in the market, ranking first among domestic companies in the high-definition video bridging chip sector [14][17] 2. AR/VR Sector - The AR/VR market presents significant growth potential, with Longxin collaborating with various AR/VR hardware manufacturers [4][35] - The company’s 4K/8K ultra-high-definition video signal bridging chips are compatible with advanced protocols, enhancing flexibility and compatibility for the AR/VR market [38] 3. Automotive Sector - Longxin is actively expanding its presence in the automotive display market, with several chips already certified for automotive applications [4][24] - The automotive SerDes market is expected to grow significantly, with Longxin's products entering the verification testing phase [4][24] 4. Financial Forecast and Investment Recommendations - Longxin is expected to achieve net profits of 1.2 billion yuan, 1.9 billion yuan, and 2.8 billion yuan from 2024 to 2026, with corresponding P/E ratios of 46, 30, and 20 [5][6] - The company has shown resilience against industry downturns, with revenue growth projected at 34% in 2023 and 37% in 2024 [22][24]

证券代码：688486 证券简称：龙迅股份 公告编号：2024-068 龙迅半导体（合肥）股份有限公司 关于公司及股东向宣城市宁国燕津教育基金会捐赠的公告 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。 一、对外捐赠基本情况 为切实履行社会责任，回馈社会，助力乡村教育振兴，近日龙迅半导体（合 肥）股份有限公司（以下简称"公司"）联合股东邱成英女士、汪瑾宏先生、王 从水先生以自有资金向宣城市宁国燕津教育基金会合计捐赠人民币120万元。其 中，公司捐赠人民币50万元，股东邱成英女士捐赠人民币50万元，股东汪瑾宏先 生捐赠人民币10万元，股东王从水先生捐赠人民币10万元。 根据《上海证券交易所科创板股票上市规则》《公司章程》等相关规定，公 司董事长已在审批权限内同意公司上述捐赠事项，本次捐赠事项无需提交董事会 审议。 | 序号 | 捐赠单位或个人 | 受赠方 | 金额 | 捐赠主要用途 | | --- | --- | --- | --- | --- | | 1 | 龙迅半导体（合 龙迅半导体（合 | 宣城市宁国燕 | 40万元 ...

证券代码：688486 证券简称：龙迅股份 公告编号：2024-067 龙迅半导体（合肥）股份有限公司 股东减持股份计划公告 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、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： 大股东持股的基本情况 截至本公告披露日，龙迅半导体（合肥）股份有限公司（以下简称"公司"或"发 行人"）股东合肥赛富合元创业投资中心（有限合伙）（以下简称"赛富创投"）持有公司 股份 7,386,520 股，占公司总股本的 7.22%。其中 4,990,124 股为公司首次公开发行前 取得的股份，已于 2024 年 2 月 21 日起上市流通；2,396,396 股为公司资本公积转增股 本取得的股份，已于 2024 年 6 月 3 日起上市流通。 减持计划的主要内容 因自身资金需求，股东赛富创投拟通过集中竞价或大宗交易的方式减持不超过 2,045,600 股的公司股份，减持比例不超过公司总股本的 2.00%。自本公告披露之日起 15 个交易日后的 3 个月内进行。减持价格按市场价格确定，若公司在减持计划实施期间 发生送红股、转 ...

证券代码：688486 证券简称：龙迅股份 公告编号：2024-066 龙迅半导体（合肥）股份有限公司 持股 5%以上股东减持计划期限届满暨减持股份结果公告 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、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： 大股东持股的基本情况 本次减持计划实施前，安徽红土创业投资有限公司（以下简称"红土创投"）持有 龙迅半导体（合肥）股份有限公司（以下简称"龙迅股份"或"公司"）股份 5,215,378 股，占公司总股本 5.10%，其中 3,523,904 股为公司首次公开发行前取得的股份，已 于 2024 年 2 月 21 日起上市流通；1,691,474 股为公司资本公积转增股本取得的股份， 已于 2024 年 6 月 3 日起上市流通。 本次减持计划实施前，合肥中安海创创业投资合伙企业（有限合伙）（以下简称"合 肥中安"）持有公司股份 3,690,111 股，占公司总股本 3.61%，其中 2,493,318 股为公 司首次公开发行前取得的股份，已于 2024 年 2 月 21 日起上市流通；1,196, ...