股票代码：688533 证券简称：上声电子 公告编号：2025-024 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 关于实施 2024 年年度权益分派时可转债转股价格调整暨 转股连续停牌的提示性公告 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： ? 证券停复牌情况：适用 因实施权益分派,本公司的相关证券停复牌情况如下： 停牌 证券代码 证券简称 停复牌类型 停牌起始日 停牌期间 复牌日 终止日 可转债转股 停牌 权益分派公告前一交易日（2025 年 5 月 29 日）至权益分派股权登 记日期间，本公司可转债将停止转股。 ? 因实施权益分派，"上声转债"相应调整转股价格，转股价格由人 民币 29.56 元/股调整为人民币 29.11 元/股，转股价格调整实施日 期为权益分派股权登记日后的第一个交易日。 一、2024 年年度权益分派方案的基本情况 （一）公司 2024 年年度权益分派方案为：以实施权益分派股权登 记日登记的总股本为基数，拟向全体股东每 10 股派送现金红利 4.50 ...

股票代码：688533 证券简称：上声电子 公告编号：2025-024 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 关于实施 2024 年年度权益分派时可转债转股价格调整暨 转股连续停牌的提示性公告 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： 证券停复牌情况：适用 二、本次权益分派方案实施时转股连续停牌的安排 （一）公司将于 2025 年 5 月 30 日在《中国证券报》《上海证券报》 《证券时报》及上海证券交易所网站（www.sse.com.cn）披露权益分 派实施公告和可转债转股价格调整公告。 （二）自 2025 年 5 月 29 日至权益分派股权登记日期间，"上声转 债"将停止转股，股权登记日后的第一个交易日起"上声转债"恢复 转股，欲享受权益分派的可转债持有人可在 2025 年 5 月 28 日（含 2025 年 5 月 28 日）之前进行转股。 三、本次权益分派方案实施时转股价格的调整 因实施权益分派,本公司的相关证券停复牌情况如下： | 证券代码 | 证券简称 | ...

审议结果：通过 证券代码：688533 证券简称：上声电子 公告编号：2025-023 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 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 5 月 20 日 （二）股东大会召开的地点：苏州市相城区元和科技园中创路 333 号 公司三楼北 C105U 型会议室 （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： 普通股股东人数 53 普通股股东所持有表决权数量 121,008,581 决权数量的比例（%） 普通股股东所持有表决权数量占公司表决权数 量的比例（%） （四）表决方式是否符合《公司法》及公司章程的规定，大会主持情 况等。 会议采用现场投票和网络投票相结合的表决方式，会议的表决程 序和方式均符合《公司法》和《公司章程》的规定，本次股东大会由 董事长周建明先生主持。 （五）公司董事、监事和董事会秘 ...

证券代码：688533 证券简称：上声电子 公告编号：2025-023 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 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 5 月 20 日 （二）股东大会召开的地点：苏州市相城区元和科技园中创路 333 号 （四）表决方式是否符合《公司法》及公司章程的规定，大会主持情 况等。 会议采用现场投票和网络投票相结合的表决方式，会议的表决程 序和方式均符合《公司法》和《公司章程》的规定，本次股东大会由 董事长周建明先生主持。 （五）公司董事、监事和董事会秘书的出席情况 1、公司在任董事9人，出席9人； 2、公司在任监事3人，出席3人； 3、董事会秘书朱文元先生出席了本次会议，公司全体高级管理人员 列席了会议。 二、 议案审议情况 （一）非累积投票议案 公司三楼北 C105U 型会议室 （三）出席会议的普通股股东、特别表决权 ...

上海市通力律师事务所 关于苏州上声电子股份有限公司 2024 年年度股东大会的法律意见书 致: 苏州上声电子股份有限公司 上海市通力律师事务所(以下简称"本所")接受苏州上声电子股份有限公司(以下简称 "公司")的委托, 指派本所黄新淏律师、陈理民律师(以下简称"本所律师")根据《中华人 民共和国公司法》《中华人民共和国证券法》《上市公司股东会规则》等法律法规和规范 性文件(以下统称"法律法规")及《苏州上声电子股份有限公司章程》(以下简称"公司章 程")的规定就公司 2024 年年度股东大会(以下简称"本次股东大会")相关事宜出具法律 意见。 本所律师已经对公司提供的与本次股东大会有关的法律文件及其他文件、资料予以了核 查、验证。在进行核查验证过程中, 公司已向本所保证, 公司提供予本所之文件中的所有签 署、盖章及印章都是真实的, 所有作为正本提交给本所的文件都是真实、准确、完整和有效 的, 且文件材料为副本或复印件的, 其与原件一致和相符。 在本法律意见书中, 本所仅对本次股东大会召集和召开的程序、出席本次股东大会人员 资格和召集人资格及表决程序、表决结果是否符合法律法规和公司章程的规定发表意见, 并 不 ...

Core Viewpoint - The company, UpSound Electronics, is accelerating its production expansion by issuing convertible bonds to raise up to 330 million yuan, primarily for upgrading speaker manufacturing technology and industrializing vehicle digital audio-visual technology [1][2]. Funding Utilization - Approximately 78.79% of the raised funds, around 260 million yuan, will be allocated to the speaker intelligent manufacturing technology upgrade project, which has a total investment of about 374 million yuan [2]. - The project aims to upgrade outdated production lines at the company's Suzhou headquarters and purchase highly automated production and testing equipment over a three-year construction period [2]. Market Position and Growth - UpSound Electronics holds the leading market share in vehicle speaker products among domestic suppliers, with global market shares projected to increase from 12.95% in 2022 to 15.24% in 2024 for passenger and light commercial vehicles [2]. - The company has established a diverse client base, including major automotive manufacturers such as Geely, Chery, Ford, and BMW [2]. R&D Investment and Innovation - The company has consistently increased its R&D investment, totaling 573 million yuan from 2020 to 2024, with annual expenditures rising each year [5]. - The company plans to invest 20 million yuan in the vehicle digital audio-visual technology industrialization project, which will focus on developing advanced technologies to meet the growing demand for automotive intelligence [3][5]. Financial Performance - UpSound Electronics has shown a steady increase in revenue and net profit from 2021 to 2024, with revenues rising from 1.302 billion yuan to 2.776 billion yuan and net profits increasing from 60.67 million yuan to 235 million yuan [4]. - Despite a revenue increase of 6.4% in Q1 2025, net profit declined by 53.27% due to initial operational challenges at the Hefei factory and reduced government subsidies [6].

公司披露向不特定对象发行可转换公司债券预案，拟募资不超过 3.30 亿元（含 3.30 亿元）用于扬声器智能制造技术升级项 目、车载数字音视频技术产业化项目等两个项目的投资建设及补充流动资金。 02 分析判断 ► 产线升级降本提效 业务布局持续拓展 根据可转债预案，本次募资主要用于以下两大项目建设及补充流动资金： 1 ）扬声器智能制造技术升级项目， 总投资额 3.74 亿元，拟使用募集资金额 2.60 亿元，建设周期 3 年。项目用于对公司 苏州总部生产基地部分老旧产线进行技术升级，公司拟购置高自动化程度的生产、检测等设备，对上料、组装、焊锡、检测等 环节进行智能化升级，以提升公司产品的一致性，同时提高生产效率降低生产成本； 01 事件概述 2 ）车载数字音视频技术产业化项目， 总投资额为 2,146.50 万元，拟使用募集资金额为 2,000.00 万元，建设周期 2 年。 项目将依托公司现有研发机制、人员和技术储备，并引进先进的研发设备，进行流媒体后视镜新型液晶显示材料、 AI 功放系 统与数字扬声器 ASIC 芯片等方向的研发，以更好地贴合汽车智能化发展趋势，满足下游客户多样化、集成化需求。 ► 扬声器 ...

Investment Rating - The report maintains a "Recommended" rating for the company [6] Core Views - The company plans to raise up to 330 million yuan through a convertible bond issuance to fund two major projects: the intelligent manufacturing technology upgrade for speakers and the industrialization of in-vehicle digital audio and video technology [1][2] - The speaker business remains robust, with projected revenue of 205 billion yuan in 2024, a year-on-year increase of 10.84%, while the amplifier revenue is expected to reach 53.4 billion yuan, showing a significant growth of 4797% [3] - The company is expanding its production capacity and enhancing its overseas operations, particularly in Czech Republic and Mexico, to reduce supply chain risks and meet increasing demand [4] Summary by Sections Project Funding and Utilization - The convertible bond proceeds will be allocated to two projects: 1. Intelligent manufacturing technology upgrade for speakers with a total investment of 374 million yuan, using 260 million yuan from the bond [2] 2. Industrialization of in-vehicle digital audio and video technology with a total investment of 21.465 million yuan, utilizing 20 million yuan from the bond [2] Revenue and Market Position - The company is expected to maintain a strong market position in the automotive speaker sector, with market shares of 12.95%, 13.11%, and 15.24% in the global market from 2022 to 2024, and 20.66%, 23.32%, and 25.42% in the domestic market [3] - The company is focusing on increasing R&D investments to strengthen its existing advantages in automotive speakers while developing new automotive electronic products [3] Financial Projections - Revenue projections for 2025, 2026, and 2027 are 325.6 billion yuan, 384.4 billion yuan, and 437.3 billion yuan respectively, with net profits expected to be 24.6 billion yuan, 41.3 billion yuan, and 55.9 billion yuan [5][10] - The report anticipates a steady growth in earnings per share (EPS) from 1.51 yuan in 2025 to 3.43 yuan in 2027, with corresponding price-to-earnings (PE) ratios of 19, 11, and 8 [5][10]

Investment Rating - The report maintains a "Recommended" rating for the company, with a target price based on a closing price of 28.07 CNY per share on May 12, 2025 [6]. Core Viewpoints - The company is set to raise up to 330 million CNY through a convertible bond issuance to fund two major projects: the smart manufacturing technology upgrade for speakers and the industrialization of automotive digital audio and video technology [1][2]. - The speaker business remains robust, with projected revenue of 2.05 billion CNY in 2024, reflecting a year-on-year growth of 10.84%. The company is also seeing rapid growth in its amplifier and AVAS product lines, with respective revenue increases of 47.97% and 40.10% [3]. - The company is expanding its production capabilities both domestically and internationally, with ongoing projects in the Czech Republic and Mexico to enhance delivery capabilities and reduce supply chain risks [4]. Summary by Sections Funding and Projects - The convertible bond proceeds will primarily support two projects: 1. Smart manufacturing technology upgrade for speakers, with a total investment of 374 million CNY and a planned use of 260 million CNY from the bond proceeds over a 3-year construction period [2]. 2. Industrialization of automotive digital audio and video technology, with a total investment of 21.465 million CNY and a planned use of 20 million CNY from the bond proceeds over a 2-year construction period [2]. Revenue and Market Position - The company is expected to maintain a strong market position in the automotive speaker sector, with market shares increasing from 12.95% in 2022 to 15.24% in 2024 in the global market, and from 20.66% to 25.42% in the domestic market during the same period [3]. Financial Projections - Revenue projections for 2025-2027 are 3.256 billion CNY, 3.844 billion CNY, and 4.373 billion CNY respectively, with net profits expected to be 246 million CNY, 413 million CNY, and 559 million CNY [5][10]. - The earnings per share (EPS) are projected to grow from 1.51 CNY in 2025 to 3.43 CNY in 2027, with corresponding price-to-earnings (PE) ratios of 19, 11, and 8 [5][10].

Core Viewpoint - The company, Shangsheng Electronics, announced a plan to issue convertible bonds to unspecified investors, aiming to raise a total of up to 330 million yuan for various projects and working capital [1][2]. Group 1: Convertible Bond Issuance - The company plans to issue convertible bonds with a face value of 100 yuan each, with a total issuance amount not exceeding 330 million yuan [2][4]. - The bonds will have a term of six years and will be listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board [1]. - The initial conversion price will be determined based on the average trading price of the company's stock over the 20 trading days prior to the announcement [1][2]. Group 2: Fund Allocation - The raised funds will be allocated to three main projects: 1. Speaker Intelligent Manufacturing Technology Upgrade Project with a total investment of 37.41 million yuan, using 26 million yuan from the raised funds [3]. 2. In-vehicle Digital Audio and Video Technology Industrialization Project with a total investment of 2.15 million yuan, using 2 million yuan from the raised funds [3]. 3. Supplementing working capital with 5 million yuan from the raised funds [3]. - The total investment for these projects amounts to 44.55 million yuan, with the raised funds covering 33 million yuan [3]. Group 3: Financial Performance - In the first quarter of 2025, the company reported a revenue of 636 million yuan, a year-on-year increase of 6.4% [5]. - The net profit attributable to shareholders decreased by 53.27% to 27.33 million yuan [5]. - The net cash flow from operating activities was reported at 77.63 million yuan [5].