Investment Rating - The report assigns an "Accumulate - A" rating for the company, marking its first coverage [1]. Core Views - The company specializes in precision optics and is experiencing accelerated growth in its semiconductor business [1]. - The company reported a revenue of 375 million yuan for the first three quarters of 2024, reflecting a year-on-year increase of 4.33%, while the net profit attributable to shareholders decreased by 32.54% to 24.49 million yuan [1]. - The semiconductor sector is expected to grow significantly, with a reported 46.12% year-on-year increase in revenue for the first half of 2024 compared to the first half of 2023 [1]. Financial Performance - For Q3 2024, the company achieved a record quarterly revenue of 134 million yuan, up 11.25% year-on-year and 3.04% quarter-on-quarter [1]. - The net profit for Q3 2024 was 8.92 million yuan, a 15.76% increase year-on-year but a 21.0% decrease quarter-on-quarter [1]. - The company’s basic earnings per share (EPS) for Q3 2024 was 0.46 yuan, with a net asset return rate of 2.11% [1]. Revenue and Profit Forecast - The forecast for net profit attributable to shareholders for 2024-2026 is 43 million yuan, 82 million yuan, and 154 million yuan respectively, with corresponding EPS of 0.81 yuan, 1.54 yuan, and 2.91 yuan [1]. - The projected price-to-earnings (P/E) ratios for 2024-2026 are 232.1, 121.0, and 64.2 respectively [1]. Market Position and Strategy - The company is positioned as a leading provider of advanced precision optical solutions, focusing on sectors such as semiconductors, life sciences, and medical applications [1]. - The company aims to become a global leader in high-end optical technology innovation applications, leveraging its integrated system development capabilities [1].

证券代码：688502 证券简称：茂莱光学 编号：2024-016 南京茂莱光学科技股份有限公司投资者关系活动记录表 | --- | --- | --- | |------------------------------|----------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系 活动类别 | ☑ □ □ □ 现场参观 ☑其他 （线上交流） | 特定对象调研 □分析师会议 媒体采访 ☑业绩说明会 新闻发布会 □路演活动 | | 参与单位名称 | 2024 年 10 月 28 长城 2024 年 10 月 29 | ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company reported a revenue of 375 million yuan for the first three quarters of 2024, representing a year-on-year growth of 4.33%. However, the net profit attributable to shareholders decreased by 32.54% to 24 million yuan [2] - The semiconductor and aerospace businesses are the main growth drivers, with the semiconductor segment accounting for 48.60% of total revenue in the first three quarters of 2024 [2] - The company expects steady expansion in its semiconductor business, supported by the accelerating development of the domestic semiconductor optical industry chain [2] - The AR/VR and life sciences segments are currently under pressure, with AR/VR revenue declining due to long product delivery cycles and life sciences revenue affected by overseas market promotion challenges [2] - The gross margin for the first three quarters of 2024 was 48.15%, down 3.13 percentage points year-on-year, primarily due to changes in product mix and increased operational costs [2] - The company forecasts revenues of 488 million, 560 million, and 649 million yuan for 2024, 2025, and 2026, respectively, with corresponding net profits of 44 million, 58 million, and 72 million yuan [2] Financial Performance Summary - Revenue for 2022 was 438.73 million yuan, with a growth rate of 32.36%. For 2023, revenue is projected at 458.03 million yuan, with a growth rate of 4.4% [3][5] - The net profit for 2022 was 59 million yuan, with a decrease to 47 million yuan in 2023, reflecting a net profit growth rate of -20.83% [3][5] - The company’s earnings per share (EPS) for 2024 is estimated at 0.83 yuan, with a price-to-earnings (PE) ratio of 229.60 [3][5] - The return on equity (ROE) is projected to decline from 16.21% in 2022 to 3.63% in 2024 [3][5] - The gross margin is expected to be 47.1% in 2024, slightly decreasing from 51.9% in 2023 [3][5]

南京茂莱光学科技股份有限公司 董事会议事规则 第五条 公司设董事长 1 名，副董事长 1 名，董事长和副董事长由董事会 以全体董事的过半数选举产生。 第六条 董事长行使下列职权： (一) 主持股东会和召集、主持董事会会议； (二) 督促、检查董事会决议的执行； 第一条 为了进一步规范南京茂莱光学科技股份有限公司（以下简称"公 司"）董事会的议事方式和决策程序，促使董事和董事会有效地履行其职责，提 高董事会规范运作和科学决策水平，根据《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》"）等 法律、法规及《南京茂莱光学科技股份有限公司章程》（以下简称"公司章程"） 的有关规定，制订本规则。 第二章 董事会 第二条 公司设董事会，对股东会负责。 第三条 董事会由 6 名董事组成，其中独立董事 3 名。公司董事由董事会 提名、股东会选举或更换。 第四条 董事会下设证券部，处理董事会日常事务。董事会秘书兼任证券 部负责人，保管董事会印章。 第三章 董事长 第一章 总则 1 (三) 董事会授予的其他职权。 第七条 公司副董事长协助董事长工作，董事长不能履行职务或者不履行 ...

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：688502 证券简称：茂莱光学 公告编号：2024-058 南京茂莱光学科技股份有限公司 关于修订《公司章程》及部分公司治理制度的公告 南京茂莱光学科技股份有限公司（以下简称 "公司"）于 2024 年 10 月 24 日 召开第四届董事会第六次会议、第四届监事会第六次会议，审议通过了《关于修 订<公司章程>的议案》《关于修订部分公司治理制度的议案》《关于修订<监事会 议事规则>的议案》，现将相关情况公告如下： | | 第三十六条 公司股东大会、董事会决议 内容违反法律、行政法规的，股东有权请 | 第三十六条 公司股东会、董事会决议内 容违反法律、行政法规的，股东有权请 | | --- | --- | --- | | | 求人民法院认定无效。 股东大会、董事会的会议召集程序、表决 | 求人民法院认定无效。 股东会、董事会的会议召集程序、表决 | | | 方式违反法律、行政法规或者本章程，或 | 方式违反法律、行政法规或者本章程， | | | 者决议内容违反本章程的 ...

证券代码：688502 证券简称：茂莱光学 公告编号：2024-062 南京茂莱光学科技股份有限公司 关于召开 2024 年第二次临时股东大会的通知 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： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2024 年第二次临时股东大会 召开日期时间：2024 年 11 月 11 日 14 点 30 分 召开地点：江苏省南京市江宁开发区铺岗街 398 号会议室 （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 11 月 11 日 至 2024 年 11 月 11 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 股东大会召开日期：2024年11月11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、 ...

第三条 监事应当遵守法律、法规和公司章程，对公司负有忠实义务和 勤勉义务，不得利用职权收受贿赂或者其他非法收入，不得侵占公司的财产。 监事依据有关法律、法规、公司章程及本规则的规定行使监督权的活动受法 律保护，任何单位和个人不得干涉。 第二章 监事会及其职权 南京茂莱光学科技股份有限公司 监事会议事规则 第一章 总则 第一条 为了进一步完善南京茂莱光学科技股份有限公司（以下简称"公 司"）治理结构，保障监事会依法行使监督权，根据《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》"） 等法律、法规及《南京茂莱光学科技股份有限公司章程》（以下简称"公司章程"） 的规定，制订本规则。 第二条 监事会依据《公司法》和公司章程设立，应当向全体股东负责， 对公司财务以及公司董事、总经理（首席执行官 CEO，下同）及其他高级管 理人员履行职责的合法合规性进行监督，维护公司及股东的合法权益。 第四条 公司依法设监事会，监事会是公司依法设立的监督机构，对股 东会负责并报告工作。 第五条 监事会由 3 名监事组成，其中职工代表监事 1 名。监事会的人 员和组成，应当保证监事会具有 ...

证券代码：688502 证券简称：茂莱光学 公告编号：2024-057 南京茂莱光学科技股份有限公司（以下简称"公司"）第四届监事会第六次 会议通知于 2024 年 10 月 21 日以邮件方式向全体监事发出并送达，并于 2024 年 10 月 24 日在公司会议室以现场表决的方式召开。本次会议由监事会主席陈海 燕女士主持召开，会议应出席监事 3 人，实际出席 3 人。 本次会议的召开符合《中华人民共和国公司法》（以下简称"《公司法》"） 等法律、法规、部门规章以及《公司章程》的有关规定，会议决议合法、有效。 二、监事会会议审议情况 （一）审议通过《关于公司 2024 年第三季度报告的议案》 监事会认为：公司 2024 年第三季度报告的编制和审议程序符合相关法律法 规和《公司章程》等内部规章制度的规定。公允地反映了公司 2024 年第三季度 的财务状况和经营成果等事项，第三季度报告编制过程中，未发现公司参与第三 季度报告编制和审议的人员有违反保密规定的行为。监事会全体成员保证公司 2024 年第三季度报告披露的信息真实、准确、完整，不存在任何虚假记载、误 导性陈述或重大遗漏，并对其内容的真实性、准确性和完整性 ...

Financial Performance - Revenue for Q3 2024 reached ¥134,207,887.38, an increase of 11.25% year-over-year[2] - Net profit attributable to shareholders was ¥8,919,168.77, up 15.76% compared to the same period last year[2] - Basic earnings per share for the quarter were ¥0.1689, an increase of 28.83% year-over-year[3] - The company reported a 32.54% decrease in net profit attributable to shareholders for the year-to-date period[6] - The net profit attributable to shareholders, excluding non-recurring gains and losses, for the reporting period is 51.69 million RMB, primarily due to an increase in operating revenue and gross margin compared to the same period last year[7] - The net profit for the third quarter of 2024 is CNY 24,490,627.82, a decrease of 32.6% compared to CNY 36,304,780.17 in the same period of 2023[20] - The total comprehensive income for the third quarter of 2024 is CNY 27,489,285.19, a decrease of 24.3% compared to CNY 36,304,780.17 in the same period of 2023[20] Revenue and Costs - The total operating revenue for the first nine months of 2024 is 375.36 million RMB, representing a year-on-year growth of 4.33%[13] - The gross margin for the first nine months of 2024 is 48.15%, a decrease of 3.13 percentage points compared to the same period last year[13] - The company's total revenue for the first three quarters of 2024 reached CNY 375,361,216.16, compared to CNY 359,797,323.32 in the same period of 2023, indicating an increase of approximately 4.3%[17] - Total operating costs for the first three quarters of 2024 were CNY 342,162,011.01, up from CNY 314,458,920.82 in 2023, which is an increase of about 8.8%[17] - The total operating costs for the third quarter of 2024 are CNY 194,618,151.33, an increase from CNY 175,286,173.58 in the previous year[19] Assets and Liabilities - Total assets increased by 4.47% to ¥1,416,616,589.54 compared to the end of the previous year[3] - As of September 30, 2024, total assets amounted to CNY 1,416,616,589.54, an increase from CNY 1,356,033,826.42 as of December 31, 2023, representing a growth of approximately 4.4%[15] - Total current assets decreased to CNY 660,991,574.64 from CNY 787,333,143.87, reflecting a decline of about 16.1%[15] - The total liabilities increased to CNY 256,880,302.54 from CNY 165,078,604.52, representing a rise of approximately 55.5%[17] - The company's equity attributable to shareholders decreased to CNY 1,159,736,287.00 from CNY 1,190,955,221.90, a decline of about 2.6%[17] Cash Flow - Cash flow from operating activities showed a significant decline, with a net amount of ¥4,939,244.20, down 60.51%[2] - Cash flow from operating activities for the year-to-date is 1,430.41 million RMB, mainly due to increased cash payments for operating activities and employee compensation[7] - Cash flow from operating activities for the first three quarters of 2024 shows a net outflow of CNY -40,790,005.23, compared to CNY -2,665,291.55 in the same period of 2023[21] - The company reported a financial expense of CNY 2,314,878.15 in the third quarter of 2024, compared to a financial income of CNY -3,131,611.22 in the same period of 2023[19] Research and Development - R&D expenses totaled ¥17,457,520.66, a decrease of 10.35% from the previous year, representing 13.01% of revenue[3] - Research and development expenses for the third quarter of 2024 amount to CNY 50,891,841.19, a slight decrease of 3.5% from CNY 52,712,700.35 in the previous year[19] Investments and Financing - Short-term borrowings increased by 340.68%, indicating a significant rise in financing needs[6] - The company received 707.50 million RMB in cash from investment income, reflecting an increase in returns from financial products maturing during the period[7] - The net cash flow from investment activities was -32,369,592.09, compared to -608,754,299.00 in the previous period[22] - Total cash inflow from financing activities was 136,077,413.63, down from 846,276,640.00 in the previous period[22] - The cash inflow from investment activities was 1,013,606,392.25, compared to 417,322,266.12 in the previous period[22] Workforce and Operations - The company has increased its workforce to enhance production capabilities, leading to higher overall employee compensation costs[13] - The company is actively communicating with downstream customers in the AR field to upgrade and update products, addressing a decline in AR/VR testing revenue due to long delivery cycles[13] - The company has introduced high-skilled talents in new product application areas, impacting production processes and costs[13]

证券代码：688502 证券简称：茂莱光学 公告编号：2024-059 南京茂莱光学科技股份有限公司（以下简称"公司"）第四届董事会第六次 会议于 2024 年 10 月 24 日以现场结合通讯的方式召开。会议审议并通过了《关 于调整董事会专门委员会委员的议案》，具体情况如下： 邹华先生因个人工作安排调整，辞去公司第四届董事会非独立董事及董事会 审计委员会委员职务。为保障公司治理结构合规运转，保证公司董事会专门委员 会能够顺利高效开展，全体董事一致同意选举现任董事长范浩先生为审计委员会 委员。 本次调整后，公司第四届董事会审计委员会组成人员如下： | 专门委员会 | 主任 | 委员 | | --- | --- | --- | | 审计委员会 | 凌华 | 凌华、陆冬梅、范浩 | 特此公告。 南京茂莱光学科技股份有限公司董事会 2024 年 10 月 26 日 南京茂莱光学科技股份有限公司 关于调整董事会专门委员会委员的公告 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。 ...