证券代码：688531 证券简称：日联科技 公告编号：2026-010 日联科技集团股份有限公司 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、准确性和完整性依法承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2025/6/24 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 2025 6 6 | 23 | 日~2026 | 年 | 月 | 日 22 | | 预计回购金额 | 1,000万元~2,000万元 | | | | | | | 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 | 224,198股 | | | | | | | 累计已回购股数占总股本比例 | 0.1354% | | | | | | | 累计已回购金额 | 1,209.31万元 | | | | | ...

Group 1: Stock Recommendations - Jiangfeng Electronics (300666.SZ) is expected to see revenue growth of 27.75% in 2025, reaching 4.605 billion CNY, with a net profit of 481 million CNY, up 20.15%[10] - Rilian Technology (688531.SH) anticipates a revenue increase of 44.88% in 2025, achieving 1.071 billion CNY, with a net profit of 174 million CNY, up 21.81%[15] - Hengtong Optic-Electric (600487.SH) is positioned to benefit from a booming optical communication sector, with a projected revenue of 40.2 times PE in 2025[19] - Zhejiang Xiantong (603239.SH) is expected to grow steadily in the automotive sealing strip business, with a revenue forecast of 1.47 billion CNY in 2025, up 20.2%[29] Group 2: Market Trends and Insights - The global semiconductor sputtering target market is projected to exceed 25.11 billion CNY by 2027, driven by rising demand for ultra-pure metal sputtering targets[12] - The demand for optical fibers in global data centers is expected to reach 91.6 million core kilometers in 2026, a 32% increase year-on-year[20] - The lithium industry is experiencing a recovery, with Jiangfeng Electronics benefiting from a stable production of lithium salt and a projected increase in lithium prices[31] - The automotive sealing strip market is seeing a shift towards high-value products, with the penetration rate of frameless door designs expected to rise significantly in 2025[26]

Investment Rating - The report assigns a "Buy" rating for the company [5][63]. Core Insights - The company is a leading player in the domestic industrial X-ray intelligent detection sector, experiencing robust growth in new orders and entering a high-growth phase in its performance [2][18]. - The company is benefiting from strong demand in downstream sectors such as semiconductor and electronic manufacturing, with a significant market opportunity for domestic alternatives in high-end X-ray detection equipment [3][26]. - The company has achieved breakthroughs in core components, specifically micro-focus X-ray sources, and is expanding its operations to become a platform enterprise [4][56]. Summary by Sections I. Domestic Industrial X-ray Intelligent Detection Leader - The company focuses on the research, production, and sales of industrial X-ray detection equipment and core components, with applications in strategic emerging fields such as integrated circuits and electronic manufacturing [2][7]. - The company has a comprehensive production chain from core components to complete equipment and AI imaging software, breaking the monopoly of foreign manufacturers in micro-focus X-ray sources [7][10]. II. Strong Demand in Multiple Downstream Sectors - The global industrial X-ray detection equipment market is projected to grow from 574 billion yuan in 2024 to over 1 trillion yuan by 2030, with a compound annual growth rate (CAGR) of approximately 9.9% from 2025 to 2030 [3][26]. - The company is strategically positioned to capture the growing demand in the semiconductor and electronic manufacturing sectors, which are expected to drive significant growth in X-ray detection equipment [29][32]. III. Breakthroughs in Core Components - The micro-focus X-ray source market is expected to grow significantly, with the global market projected to reach 137.9 billion yuan by 2030, reflecting a CAGR of 16.3% [4][44]. - The company has achieved a self-manufacturing rate of 94.3% for closed-tube X-ray sources, enhancing its gross margin and competitive edge [4][53]. IV. Profit Forecast and Investment Recommendations - The company is expected to achieve total revenues of 10.71 billion yuan in 2025, with a year-on-year growth of 44.88%, and a net profit of 1.74 billion yuan, reflecting a growth of 21.09% [5][63]. - The projected price-to-earnings (PE) ratios for 2025-2027 are 61X, 33X, and 23X, respectively, supporting the "Buy" rating [5][63].

Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected relative price increase of over 15% compared to the CSI 300 index in the next six months [12]. Core Insights - The company is projected to achieve a total revenue of 1.071 billion yuan in 2025, representing a year-on-year growth of 44.88%. The net profit attributable to the parent company is expected to reach 174 million yuan, with a growth of 21.09% [4][6]. - The company anticipates a strong performance in Q4 2025, with a projected revenue of 334 million yuan, up 21% year-on-year, and a net profit of 50 million yuan, reflecting a 19% increase [4]. - The company is actively expanding its product offerings in advanced packaging and has achieved significant growth in new orders, driven by strong downstream demand and enhanced market competitiveness [4][5]. Financial Projections - Revenue forecasts for 2025-2027 are as follows: 1.071 billion yuan (2025), 1.641 billion yuan (2026), and 2.382 billion yuan (2027), with respective growth rates of 44.88%, 53.15%, and 45.15% [6]. - Net profit projections for the same period are 174 million yuan (2025), 316 million yuan (2026), and 454 million yuan (2027), with growth rates of 21.09%, 81.98%, and 43.74% [6]. - The report indicates a gradual decrease in the price-to-earnings (PE) ratio from 61X in 2025 to 23X in 2027, suggesting improving valuation as earnings grow [5][6].

本次股票上市流通日期为2026 年 3 月 31 日。 深圳市共创日联投资发展合伙企业（有限合伙）（以下简称"共创日联"） 作为公司控股股东、实际控制人的一致行动人，将严格遵守《上市公司股东减持 股份管理暂行办法》第十一条"最近二十个交易日中，任一日股票收盘价（向后 复权）低于首次公开发行时的股票发行价格的，上市公司首次公开发行时的控股 股东、实际控制人及其一致行动人不得通过证券交易所集中竞价交易或者大宗交 易方式减持股份"的规定。 一、本次上市流通的限售股类型 证券代码：688531 证券简称：日联科技 公告编号：2026-009 日联科技集团股份有限公司 首次公开发行部分限售股上市流通公告 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： 本次股票上市类型为首发限售股份；股票认购方式为网下，上市股数为 781.4993 万股。 本次股票上市流通总数为781.4993 万股。 2、若公司存在《上海证券交易所科创板股票上市规则》第十二章第二节规定 的重大违法情形，触及退市标准的，自相关行政处罚决定事先告知书或 ...

关于日联科技集团股份有限公司 首次公开发行部分限售股上市流通的核查意见 国泰海通证券股份有限公司 一、本次上市流通的限售股类型 根据中国证券监督管理委员会于 2023 年 2 月 21 日出具的《关于同意无锡日 联科技股份有限公司首次公开发行股票注册的批复》（证监许可[2023]366 号）， 日联科技集团股份有限公司（以下简称"公司"）获准向社会公开发行人民币普通 股（A 股）1,985.1367 万股，并于 2023 年 3 月 31 日在上海证券交易所科创板上 市，发行完成后公司总股本为 7,940.5467 万股，其中有限售条件流通股 6,202.2809 万股，无限售条件流通股 1,738.2658 万股。 140.7806 万股，合计转增 3,509.8947 万股，转增后公司总股本增加至 11,450.4414 万股。 2025 年 5 月 16 日，公司 2024 年年度股东会审议通过了《关于 2024 年度利 润分配及资本公积转增股本方案的议案》，以实施权益分派股权登记日登记的总 股本扣减公司回购专用证券账户中的股份为基数，向全体股东每 10 股派发现金 红利 6.00 元（含税），以资本公 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Insights - The company is expected to achieve a revenue of 1.071 billion yuan in 2025, representing a year-on-year growth of 45%, and a net profit of 175 million yuan, which is a 22% increase year-on-year [4] - The company has made significant advancements in the semiconductor high-precision detection field and has successfully industrialized nano-level open-tube X-ray sources and high-power X-ray sources [7] - The acquisition of SSTI in November 2025 is expected to enhance the company's detection technology capabilities in semiconductor laser, infrared, and electrical performance [7] - The company is focusing on expanding its product matrix through investments and acquisitions, which are projected to contribute 100-200 million yuan in revenue and 40-50 million yuan in net profit in 2026 [7] - The company has adjusted its profit forecast for 2025 downwards but has raised the forecasts for 2026 and 2027, expecting net profits of 298 million yuan and 396 million yuan respectively [7] Financial Data and Profit Forecast - Total revenue is projected to grow from 739 million yuan in 2024 to 1.937 billion yuan in 2027, with corresponding growth rates of 25.9%, 44.8%, 39.4%, and 29.8% [6] - The net profit is expected to increase from 175 million yuan in 2025 to 396 million yuan in 2027, with growth rates of 21.9% and 32.8% respectively [6] - The company's current price-to-earnings (PE) ratios are projected to be 70X for 2025, 41X for 2026, and 31X for 2027 [7]

Summary of the Conference Call for 日联科技 Company Overview - **Company**: 日联科技 (Riyuan Technology) - **Industry**: Industrial X-ray detection and semiconductor equipment Key Points and Arguments Business Performance and Growth Targets - **2025 Revenue Growth**: The company aims for a 30%+ growth in revenue from its core business, with a net profit margin expected to be between 18%-19% [2][13] - **Acquisition Contributions**: The acquisition of SCTI is projected to contribute approximately 150-200 million RMB in revenue and around 15 million RMB in net profit [2][13] - **Overall Revenue Target**: The company targets an annualized revenue growth of 30% over the next three years [2] Business Segmentation - **Main Business Areas**: - Integrated circuits and electronic manufacturing: 45% of revenue, benefiting from AI-driven demand for advanced packaging and HBM detection [2][3] - New energy business: Focus shifting towards energy storage, with demand expected to outperform that of power batteries [2][6] - Automotive sector: Expected to grow by 30% in 2026, driven by integrated die-casting and lightweight trends [2][6] - Food safety detection: Anticipated to see significant growth due to rising public awareness of food safety [7] Product Development and Technology - **New Product Launches**: The company has introduced a new line of nano open-tube X-ray sources, which began small-scale shipments in 2025, enhancing its product offerings for high-precision applications [2][3] - **AI Integration**: The launch of an industrial X-ray imaging AI model aims to improve detection accuracy and push the industry towards intelligent perception [4] - **Self-manufacturing Rate**: The self-manufacturing rate of new X-ray sources is expected to reach 80% within three years, significantly optimizing cost structures and supporting margin improvements [2][12] Market Dynamics and Customer Base - **Customer Diversification**: The company has reduced dependency on single customers, with major clients like Luxshare Precision and Foxconn each accounting for less than 10% of revenue [2][10] - **Sector Growth**: The semiconductor industry is expected to maintain a favorable outlook, driven by new demands from AI computing and advanced packaging technologies [6][11] Financial Projections and Strategic Outlook - **2026 Order Targets**: The company aims for a 30% increase in new orders, projecting total orders to reach approximately 1.8 billion RMB [7][13] - **Acquisition Performance**: The acquired companies, SCTI and Zhuhai Jiuyuan, are expected to contribute modest growth rates of around 20% and 10% respectively over the next three years [8][13] - **Long-term Profitability**: The company anticipates significant improvements in profitability over the next three to five years, driven by higher sales of high-value equipment and a shift towards high-margin sectors [12][13] Additional Insights - **Investment in Technology**: The company has made strategic investments in various technology firms to enhance its capabilities in ultrasonic detection and semiconductor applications [4] - **Market Trends**: The company is well-positioned to capitalize on emerging trends in the semiconductor and energy storage sectors, with a focus on high-value applications [6][12] This summary encapsulates the key insights from the conference call, highlighting the company's strategic direction, market positioning, and growth expectations.

证券代码：688531 证券简称：日联科技 公告编号：2026-008 日联科技集团股份有限公司 关于使用部分暂时闲置募集资金进行现金 管理的公告 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： 投资种类：安全性高、流动性好、投资期限不超过 12 个月的具有合 法经营资格的金融机构销售的有保本约定的投资产品（包括但不限于保本型 理财产品、结构性存款、定期存款、通知存款、大额存单、协定存款、券商 收益凭证及国债逆回购品种等） 投资金额：不超过人民币 3 亿元 已履行的审议程序：2026 年 3 月 18 日，公司召开第四届董事会第十 七次会议审议通过了《关于使用部分暂时闲置募集资金进行现金管理的议案》， 保荐机构对本事项出具了明确的核查意见。 特别风险提示 公司购买的理财产品为保本浮动收益型产品，属于低风险理财产品。但受金 融市场宏观政策的影响，购买理财产品可能存在市场风险、流动性风险、信用风 险及其他风险，受各种风险影响，理财产品的收益率可能会产生波动，理财收益 可能具有不确定性。 一、投资情况概述 （一）投资 ...

使用部分暂时闲置募集资金进行现金管理的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为日 联科技集团股份有限公司（以下简称"日联科技"、"公司"或"发行人"）首次 公开发行股票并在科创板上市的保荐人，根据《证券发行上市保荐业务管理办法》 《上市公司募集资金监管规则》《上海证券交易所科创板股票上市规则》和《上 海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》等有关法律法 规和规范性文件的要求，就日联科技使用暂时闲置募集资金进行现金管理的事项 进行了审慎核查，并发表如下核查意见: 国泰海通证券股份有限公司 关于日联科技集团股份有限公司 一、投资情况概述 （一）投资目的 为提高公司资金使用效率，在不影响募集资金投资项目推进的前提下，对部 分闲置募集资金进行现金管理，增加资金使用效益，更好地实现公司资金的保值 增值，保障公司股东的利益。 （二）投资金额 公司拟使用不超过人民币 3 亿元的闲置募集资金进行现金管理。 （三）资金来源 经中国证券监督管理委员会于 2023 年 2 月 21 日出具的《关于同意无锡日联 科技股份有限公司首次公开发行股票注册的批复》（证监许可[2023] ...