证券代码：688533 证券简称：上声电子 公告编号：2024-046 债券代码：118037 债券简称：上声转债 苏州上声电子股份有限公司 监事会关于公司2024年限制性股票激励计划激励对象 名单的审核意见及公示情况说明 本公司监事会及全体监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。 苏州上声电子股份有限公司(以下简称"公司")于 2024 年 4 月 29 日召开的第三届董事会第三次会议、第三届监事会第三次会议审 议通过了《关于公司 2024 年限制性股票激励计划(草案)及其摘要的 议案》等相关议案。根据《上市公司股权激励管理办法》(以下简称 "《管理办法》")的相关规定，公司对 2024 年限制性股票激励计划 激励对象的姓名和职务在公司内部进行了公示。公司监事会根据《管 理办法》相关规定，在征询公示意见后对激励对象名单进行了审核， 相关公示情况及核查结果如下: 一、公示情况及核查方式 (1) 公司于 2024 年 4 月 30 日 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）上披露了公司《苏州上声电子股 ...

苏州上声电子股份有限公司 投资者关系活动记录表 证券简称：上声电子 证券代码：688533 编号：2024-002 特定对象调研 □分析师会议 投资者关系活动 □媒体采访 □业绩说明会 类别 □新闻发布会 □路演活动 □现场参观 □其他（需文字说明） 中银国际证券 张丽新；中金公司 袁咪； 长江证券 刘舒畅、胡加琪；长城基金 林皓、陈文宇； 永赢基金 黎一鸣；永诚财产保险 朱冰兵； 银河基金 袁曦；易方达基金 张仲宸； 兴合基金 侯吉冉；信达澳亚基金 朱然； 天治基金 林轩毅；世纪证券 陈峰； 参与单位名称 上海翀云投资 俞海海；青骊投资 李卫； （排名不分先后） ...

Investment Rating - The report maintains a "Recommendation" rating for the company, indicating an expectation to outperform the benchmark index by 10%-20% over the next six months [21]. Core Insights - The company reported a revenue of 2.33 billion yuan in 2023, representing a year-on-year increase of 32%. The net profit attributable to shareholders was 159 million yuan, up 82% year-on-year, and the net profit excluding non-recurring items was 156 million yuan, reflecting a 140% increase [21]. - In Q1 2024, the company achieved a revenue of 600 million yuan, also a 32% year-on-year increase, with a net profit of 58 million yuan, up 95% year-on-year [21]. - The company's gross margin was 24.7%, with a slight increase compared to the previous quarter, despite pressures from declining raw material prices [21]. - The report highlights the company's strategic focus on market expansion, average selling price (ASP) enhancement, domestic substitution, and business model transformation, which are expected to drive future growth [21]. Financial Summary - The company’s total revenue is projected to reach 3.04 billion yuan in 2024, with a year-on-year growth rate of 30.8%. The net profit is expected to be 233 million yuan, reflecting a growth rate of 46.9% [30]. - The earnings per share (EPS) is forecasted to be 1.46 yuan in 2024, with a price-to-earnings (P/E) ratio of 20 times [30]. - The report anticipates a continued increase in revenue and net profit through 2026, with projected figures of 4.64 billion yuan in revenue and 374 million yuan in net profit [30].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 27.40 CNY per share [1][3]. Core Insights - The company reported a revenue of 2.323 billion CNY in 2023, representing a year-on-year increase of 31.52%, and a net profit attributable to shareholders of 159 million CNY, up 82.40% year-on-year [1][3]. - The growth in revenue and profit is attributed to the expansion of the global automotive market, recovery in overseas demand, and changes in the structure of the Chinese automotive market [1][3]. - The company has seen significant growth in its product lines, particularly in automotive speakers, amplifiers, and AVAS, with respective revenue growth rates of 33.78%, 34.47%, and 51.01% in 2023 [1][3]. Revenue and Profit Analysis - In Q4 2023, the company achieved a revenue of 733 million CNY, a year-on-year increase of 29.10% and a quarter-on-quarter increase of 16.47% [1][3]. - For Q1 2024, the revenue was 598 million CNY, reflecting a year-on-year increase of 31.98% but a quarter-on-quarter decrease of 18.45% [1][3]. - The net profit for Q1 2024 was 58 million CNY, up 95.38% year-on-year and 12.93% quarter-on-quarter [1][3]. Cost and Expense Management - The company has improved its profitability through effective cost and expense management, alongside a decrease in raw material prices [1][3]. - The financial expense ratio increased due to higher interest expenses and exchange rate fluctuations [1][3]. Market Position and Product Development - The company has strengthened its market position in automotive speakers, achieving a market share of 23.32% in China by 2023, up from 20.66% in 2022 [1][3]. - The company is expanding its customer base and product offerings, including new products like digital amplifiers and AVAS, which are expected to drive future growth [3][4]. Financial Forecast - The company is projected to achieve revenues of 3.201 billion CNY in 2024, 4.196 billion CNY in 2025, and 4.833 billion CNY in 2026, with corresponding net profits of 258 million CNY, 365 million CNY, and 433 million CNY respectively [4][3]. - The earnings per share (EPS) are expected to be 1.61 CNY in 2024, 2.28 CNY in 2025, and 2.70 CNY in 2026, with price-to-earnings (PE) ratios of 17, 12, and 10 respectively [4][3].

Financial Performance - Revenue for 2023 reached ¥2,326,463,032.64, a year-on-year increase of 31.52% driven by growth in the automotive market and competitive advantages in speaker products[26] - Net profit attributable to shareholders increased by 82.4% to ¥158,988,236.51, attributed to revenue growth, improved product mix, and enhanced production efficiency[26] - Basic earnings per share for 2023 was ¥0.99, reflecting an increase of 83.33% compared to ¥0.54 in 2022[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 156.1194 million RMB, representing a 140.41% increase year-on-year[37] - The company reported a total revenue of 36,420.00 million RMB, with a net profit of 14,917.22 million RMB, representing a significant increase from the previous year's 30,511.75 million RMB[86] - The company reported a significant increase in revenue, achieving a total of 1.2 billion in 2023, representing a 15% growth compared to the previous year[175] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 3.1 yuan per 10 shares, totaling 49.6 million yuan, which represents 31.2% of the net profit attributable to shareholders for 2023[5] Research and Development - R&D expenditure as a percentage of revenue was 6.41%, slightly up from 6.21% in the previous year[24] - Research and development (R&D) expenses for the year amounted to ¥149,172,237.71, representing a 35.70% increase compared to the previous year[73] - The company applied for a total of 79 patents and obtained 43 patents during the reporting period, bringing the cumulative total to 337 applications and 203 granted patents[71] - The company is developing a 5D car audio system with a total investment of ¥6,700,000, of which ¥2,320,330 has been invested to date[77] - The company is also working on a car interior regional sound system with a total investment of ¥5,000,000, with ¥3,729,160 invested so far[77] Market Expansion and Sales - The company plans to continue expanding its market presence and enhancing product development in the automotive sector[26] - The company has secured new project approvals from several well-known automotive manufacturers, indicating a strong pipeline for future revenue[38] - The company aims to enhance its global market share and delivery capabilities by expanding overseas factories and optimizing internal resources, focusing on product development as a key driver[154] - The company is exploring market expansion opportunities, particularly in the Asia-Pacific region, to enhance its market presence[169] Production and Capacity - The company has increased its production capacity with the completion of three new production lines and a 100,000-level purification workshop, enhancing both capacity and process levels[40] - The production volume of car speakers increased by 22.99% to 81,209,069 units, while sales volume rose by 18.29% to 79,074,273 units[122] - The company has developed flexible production lines to enhance manufacturing efficiency and product quality consistency[99] Customer and Market Dynamics - The company primarily targets the automotive OEM market, establishing direct supply relationships with domestic and international automotive manufacturers[47] - The company’s top five clients contributed 130.04882 million RMB, accounting for 56.63% of the main business revenue, indicating high customer concentration[104] - The company has established stable cooperation with major automotive manufacturers, including Volkswagen Group, Ford Group, and General Motors[101] Talent and Human Resources - The company has implemented a talent strategy that combines internal cultivation and external recruitment, aiming to attract industry-leading talent[41] - The number of R&D personnel increased to 348, up from 282, with R&D personnel now accounting for 13.7% of the total workforce, compared to 13.21% previously[89] - The company has established a comprehensive training system to enhance employee skills, with plans to increase the training budget for continuous talent development[197] Governance and Compliance - The company has a stable governance structure with no changes reported in the red-chip structure[162] - The company continues to maintain a strong governance framework with independent directors and supervisors in place[165] - The company has maintained compliance with remuneration disclosure requirements, with no penalties from regulatory bodies in the past three years[181] Challenges and Risks - Potential price competition from downstream manufacturers may pose risks to the company's future growth[39] - The company faces challenges in talent acquisition due to a lack of specialized educational institutions for electroacoustic engineering in China, impacting industry growth[56] Future Outlook - Future outlook remains positive, with management guiding for continued growth in the upcoming fiscal year, projecting a revenue increase of approximately 10%[168] - The company plans to strengthen its core business in automotive audio systems and invest in new product development, including amplifiers and soundbars, while enhancing research in acoustic signal processing and electronic products[155]

Financial Performance - The company's operating revenue for Q1 2024 reached ¥597,800,414.49, representing a year-on-year increase of 31.98%[5] - The net profit attributable to shareholders was ¥58,475,460.53, marking a significant increase of 95.38% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥41,989,077.29, up by 50.97% year-on-year[6] - Basic and diluted earnings per share were both ¥0.37, an increase of 94.74% year-on-year[6] - Operating profit for Q1 2024 was ¥68.80 million, compared to ¥32.47 million in Q1 2023, reflecting a 112% increase[18] - Other income increased significantly to ¥20.84 million in Q1 2024 from ¥0.17 million in Q1 2023[18] Cash Flow and Liquidity - The net cash flow from operating activities was ¥99,771,166.88, reflecting a growth of 63.35% compared to the previous year[6] - In Q1 2024, the company reported a net cash flow from financing activities of $27,639,882.07, a significant improvement compared to a net outflow of $53,515,236.26 in the same period last year[23] - The total cash and cash equivalents at the end of Q1 2024 increased to $509,359,744.07, up from $442,672,232.56 in Q1 2023, reflecting a net increase of $47,711,002.00[23] - The company made cash payments for debt repayment totaling $107,684,333.38 in Q1 2024, compared to $166,669,319.50 in Q1 2023, indicating a reduction in debt servicing[23] - Cash outflows from financing activities totaled $112,673,586.63 in Q1 2024, down from $176,014,640.67 in the same quarter last year, showing improved cash management[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,908,464,832.73, a slight increase of 0.84% from the end of the previous year[6] - The company's total liabilities decreased to RMB 1,539,200,996.42 from RMB 1,579,346,576.68, indicating a decline of approximately 2.5%[16] - The company's equity increased slightly to RMB 1,369,263,836.31 from RMB 1,304,818,980.89, reflecting a growth of about 4.9%[16] - Accounts receivable decreased to RMB 635,046,272.98 from RMB 737,336,114.53, representing a decline of about 13.9%[14] - Inventory increased to RMB 320,557,698.73 from RMB 309,091,197.28, showing a rise of approximately 3.5%[15] Research and Development - Research and development expenses totaled ¥40,290,049.56, accounting for 6.74% of operating revenue, which is a decrease of 0.35 percentage points[6] - Research and development expenses increased to ¥40.29 million in Q1 2024, up from ¥32.09 million in Q1 2023, representing a 25% increase[17] Market and Competitive Position - The automotive market's development and improved product competitiveness were key factors driving revenue growth and profit margins[9] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[20] Other Information - The company received government subsidies amounting to ¥19,442,800.00, which positively impacted the net profit[7] - The company has not disclosed any new product developments or market expansion strategies in this report[13] - There are no significant changes in the shareholding structure or major shareholder activities reported for this quarter[13] - The company did not apply new accounting standards or interpretations for the first time in 2024, ensuring consistency in financial reporting[23]

证券代码：688533 证券简称：上声电子 公告编号：2024-031 债券代码：118037 债券简称：上声转债 一、可转债发行上市概况 经中国证券监督管理委员会证监许可〔2023〕1093 号文核准，公 司于 2023 年 7 月 6 日向不特定对象发行可转换公司债券 520 万张， 每张面值 100.00 元，发行总额 52,000 万元，扣除不含税发行费用人 民币 1,232.92 万元，实际募集资金净额为人民币 50,767.08 万元。 本次发行的可转债的期限为自发行之日起六年，即自 2023 年 7 月 6 日至 2029 年 7 月 5 日。 经《上海证券交易所自律监管决定书》（〔2023〕164 号）同意， 公司 52,000 万元可转换公司债券于 2023 年 8 月 1 日起在上交所挂 牌交易，该可转换公司债券证券简称为"上声转债"，证券代码为 "118037"。 根据有关规定和《募集说明书》的约定，公司本次发行的"上声 转债"自2024年 1月12日起可转换为本公司股份，转股价格为47.85 元/股。 二、可转债转股价格修正条款与可能触发情况 苏州上声电子股份有限公司 关于不向下修正" ...

证券代码：688533 证券简称：上声电子 公告编号：2024-030 债券代码：118037 债券简称：上声转债 苏州上声电子股份有限公司 关于"上声转债"预计触发转股价格向下修正条件的 提示性公告 根据有关规定和《募集说明书》的约定，公司本次发行的"上声 转债"自 2024 年 1 月 12 日起可转换为本公司股份，转股价格为 47.85 元/股。 二、可转债转股价格修正条款与可能触发情况 经中国证券监督管理委员会证监许可〔2023〕1093 号文核准，公 司于 2023 年 7 月 6 日向不特定对象发行可转换公司债券 520 万张， 每张面值 100.00 元，发行总额 52,000 万元，扣除不含税发行费用人 民币 1,232.92 万元，实际募集资金净额为人民币 50,767.08 万元。 本次发行的可转债的期限为自发行之日起六年，即自 2023 年 7 月 6 日至 2029 年 7 月 5 日。 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： 经《上海证券交易所自律监管决定书》（〔2023 ...

东吴证券股份有限公司 关于苏州上声电子股份有限公司 首次公开发行部分限售股上市流通的核查意见 东吴证券股份有限公司（以下简称"东吴证券"或"保荐机构"）作为苏州 上声电子股份有限公司（以下简称"上声电子"、"公司"、"发行人"）持续 督导的保荐机构履行持续督导职责，根据《公司法》《证券法》《证券发行上市 保荐业务管理办法》《上海证券交易所科创板股票上市规则》等有关规定，对上 声电子首次公开发行部分限售股上市流通事项进行了核查，核查情况及核查意见 如下： 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《关于同意苏州上声电子股份有限公司首次公 开发行股票注册的批复》（证监许可〔2021〕823 号）核准，公司首次向社会公众 公开发行人民币普通股（A 股）4,000 万股，并于 2021 年 4 月 19 日在上海证券 交易所科创板挂牌上市。公司首次公开发行 A 股前总股本为 120,000,000 股，首 次公开发行 A 股后总股本为 160,000,000 股，其中有限售条件流通股 127,440,554 股，占公司发行后总股本的 79.6503%，无限售条件流通股 32,559,446 股，占公 司 ...

证券代码：688533 证券简称：上声电子 公告编号：2024-029 债券代码：118037 债券简称：上声转债 苏州上声电子股份有限公司 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 120,000,000 股。 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（以下简称"中国证监会"）于 2021 年 3 月 16 日出具的《关于同意苏州上声电子股份有限公司首次公开发 行股票注册的批复》（证监许可[2021]823 号），同意公司向社会公开 发行人民币普通股 40,000,000 股，并于 2021 年 4 月 19 日在上海证券 交易所科创板挂牌上市。公司首次公开发行 A 股前总股本为 120,000,000 股，首次公开发行 A 股后总股本为 160,000,000 股，其中 有限售条件流通股 127,440,554 股，占公司发行后总股本的 79.6503%， 无限售条件流通股 32 ...