上市公司 接待人员姓名 先生 投资者关系活动主要内容 公司于 2024 年 11 月 28 日下午 15:00-17:00 通过网络互动方式，参加了 2024 年青岛辖区上市公司 投资者网上集体接待日活动暨 2024 年第三季度业绩说明会，就投资者关注的问题在信息披露允许的 范围内进行了回答。具体交流情况如下： 1、 金刚线竞争格局展望及盈利修复预期？ 答复：尊敬的投资者，您好！鉴于目前金刚线产品价格，各金刚线厂家普遍盈利承压，没有成本 及 细线化技术优势的企业开工率不断走低，市场份额逐步萎缩，竞争格局基本趋于明朗。叠加钨丝技术 路线的确定性，我们认为研发积累较弱、在钨丝技术路线切换上无法突破的企业，在本轮竞争中可能 会面临较高的风险。 关于金刚线未来的盈利修复，一方面来自于金刚线产品差异化带来的价格提升，比如细线化带来 产 品溢价等；另一方面来自于企业内部的持续降本。考虑到钨丝母线端生产技术的不断突破及行业产能 规模效应，我们认为未来钨丝母线端仍存在降本空间，将会带动钨丝金刚线成本下降进一步修复盈利 能力。公司今年年初突破钨丝母线冷拉工艺后，钨丝金刚线细线化持续领先，钨丝出货占比快速提 升。目前时点公司钨丝 ...

向特定对象发行股票限售股上市流通的核查意见 中信建投证券股份有限公司（以下简称"中信建投证券"、"保荐机构"）作为 青岛高测科技股份有限公司（以下简称"高测股份"、"公司"）向特定对象发行 股票的保荐机构，根据《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》《科创板上市公司持续监管办法（试行）》《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》等相关法律法规的要求，对 高测股份向特定对象发行股票限售股上市流通的事项进行了审慎核查，核查情况 及核查意见如下： 中信建投证券股份有限公司 关于青岛高测科技股份有限公司 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 3 月 9 日出具的《关于同意青岛高 测科技股份有限公司向特定对象发行股票注册的批复》（证监许可﹝2023﹞524 号），同意青岛高测科技股份有限公司（以下简称"公司"）向特定对象发行股票 的注册申请，公司向控股股东、实际控制人张顼先生发行人民币普通股（A 股） 18,212,668 股，并已于 2023 年 6 月 26 日在中国证券登记结算有限责任公司上海 分公司办理完毕股份登记手续。 ...

| 证券代码：688556 | 证券简称：高测股份 公告编号：2024-072 | | --- | --- | | 转债代码：118014 | 转债简称：高测转债 | 向特定对象发行股票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。 青岛高测科技股份有限公司 重要内容提示： 本次股票上市类型为向特定对象发行股份；股票认购方式为网下，上市股 数为 29,140,269 股。 本次股票上市流通总数为 29,140,269 股。 本次股票上市流通日期为 2024 年 12 月 26 日。 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 3 月 9 日出具的《关于同意青岛高测 科技股份有限公司向特定对象发行股票注册的批复》（证监许可﹝2023﹞524 号）， 同意青岛高测科技股份有限公司（以下简称"公司"）向特定对象发行股票的注册申 请，公司向控股股东、实际控制人张顼先生发行人民币普通股（A 股）18,212,668 股，并已于 2023 年 6 月 26 日在中国证券登记结算有限责 ...

| 证券代码：688556 | 证券简称：高测股份 | 公告编号：2024-070 | | --- | --- | --- | | 转债代码：118014 | 转债简称：高测转债 | | 青岛高测科技股份有限公司 关于 2021 年限制性股票激励计划预留授予部分第三个 归属期归属结果暨股份上市公告 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股权激励股份；股票认购方式为网下，上市股数为 25,088 股。 本次股票上市流通总数为 25,088 股。 本次股票上市流通日期为 2024 年 12 月 4 日。 根据中国证券监督管理委员会、上海证券交易所、中国证券登记结算有限责 任公司上海分公司有关业务规则的规定，青岛高测科技股份有限公司（以下简称 "公司"）于近日收到中国证券登记结算有限责任公司上海分公司出具的《证券 变更登记证明》，公司已完成 2021 年限制性股票激励计划（以下简称"本激励计 划"）预留授予部分第三个归属期的股份登记工作。现将有关情况公告如下： 一、本次限制性股票归属的 ...

| 证券代码：688556 | 证券简称：高测股份 | 公告编号：2024-071 | | --- | --- | --- | | 转债代码：118014 | 转债简称：高测转债 | | 因公司2021年限制性股票激励计划预留授予部分第三个归属期归属的限 制性股票数量为25,088股，占公司总股本比例小，经计算，前述限制性股票激励 计划归属登记完成后，"高测转债"转股价格不变。 一、转股价格调整依据 1、青岛高测科技股份有限公司（以下简称"公司"）已于2024年11月27日 完成2021年限制性股票激励计划预留授予部分第三个归属期归属登记手续，公司 总股本由546,743,918股变更为546,769,006股，具体内容详见公司同日在上海证券 交易所网站（www.sse.com.cn）披露的《青岛高测科技股份有限公司关于2021年 限制性股票激励计划预留授予部分第三个归属期归属结果暨股份上市公告》。 2、根据中国证券监督管理委员会及上海证券交易所的有关规定及公司于 2022年7月14日披露于上海证券交易所网站（www.sse.com.cn）的《青岛高测科技 股份有限公司向不特定对象发行可转换公司债券募集说明书 ...

Group 1: Event Announcement - Qingdao High Test Technology Co., Ltd. will participate in the "2024 Qingdao District Listed Companies Investor Online Reception Day" on November 28, 2024 [2] - The event will be held online from 15:00 to 17:00, allowing investors to engage with the company [2] - Key company representatives, including Chairman Zhang Xu and General Manager Zhang Xiutao, will discuss the company's Q3 2024 performance and other investor concerns [2] Group 2: Company Commitment - The Board of Directors guarantees the announcement's content is free from false records, misleading statements, or significant omissions [2] - The company assumes legal responsibility for the truthfulness, accuracy, and completeness of the announcement [2] Group 3: Investor Engagement - The event aims to enhance interaction with investors and build harmonious investor relations [2] - Investors are encouraged to actively participate in the online communication [2]

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company has experienced a significant decline in revenue and profit margins, with a 18.50% year-on-year decrease in revenue for the first three quarters and an 82.49% drop in net profit [4][5] - The company maintains a competitive edge in the tungsten wire diamond wire market, with an increase in the proportion of tungsten wire diamond wire sales [5] - The overall price pressure in the photovoltaic industry has led to a decline in profitability, with gross margins dropping to 22.98%, a decrease of 23.0 percentage points year-on-year [5][6] - Future revenue projections for 2024-2026 are estimated at 48.49 billion, 55.47 billion, and 66.29 billion respectively, with net profits expected to recover gradually [6] Summary by Sections Trading Data - Current price is 13.98 yuan, with a market cap of 7643.48 million yuan and a circulating market cap of 7236.10 million yuan [1] Financial Performance - Revenue for the first three quarters of 2023 was 34.32 billion yuan, down 18.50% year-on-year, with a net profit of 2.05 billion yuan, down 82.49% [4][8] - The third quarter saw a revenue of 7.85 billion yuan, a decrease of 53.51% year-on-year, and a net profit of -0.67 billion yuan, a decline of 114.69% [4][8] Profitability Metrics - Gross margin for the first three quarters was 22.98%, down 23.0 percentage points year-on-year, while net margin was 5.98%, down 21.9 percentage points [5][8] - The third quarter gross margin fell to 12.19%, a decrease of 32.6 percentage points year-on-year [5][8] Future Projections - Expected revenue for 2024 is 48.49 billion yuan, with net profit projected at 2.37 billion yuan, reflecting an 84% decline year-on-year [6] - The company is expected to recover with projected net profits of 3.17 billion yuan in 2025 and 4.42 billion yuan in 2026 [6]

Company and Industry Overview * **Company**: Gaoguang Technology Co., Ltd. (Gaoce) * **Industry**: Photovoltaic industry, specifically focusing on photovoltaic equipment,金刚线, and wafer slicing services. Key Points 1. Financial Performance * **Revenue**: 3.432 billion yuan in Q1-Q3 2024, with Q3 revenue of 785 million yuan. * **Profitability**: Net loss of 67.4 million yuan in Q3 2024, marking the first quarterly loss in the company's history. Net profit after R&D expenses was 158 million yuan in Q1-Q3, with a net profit of -79.35 million yuan in Q3. * **Margin**: Gross margin decreased to 12.19% in Q3 2024, down from 22.98% in Q1-Q3. Net margin was negative 8.58% in Q3, compared to 5.98% in Q1-Q3. * **R&D**: 200 million yuan in R&D expenses in Q1-Q3, representing 5.83% of revenue. * **Cash Flow**: Negative operating cash flow of 921 million yuan in Q1-Q3, primarily due to large-scale payment of notes receivable in Q1. 2. Business Segments * **Photovoltaic Equipment**: Revenue of 1.61 billion yuan in Q1-Q3, accounting for 47% of total revenue. Q3 revenue was 261 million yuan, representing 33% of total revenue. * **金刚线**: Revenue of 520 million yuan in Q1-Q3, accounting for 15% of total revenue. Q3 revenue was 187 million yuan, representing 24% of total revenue. * **Wafer Slicing Services**: Revenue of 973 million yuan in Q1-Q3, accounting for 28% of total revenue. Q3 revenue was 223 million yuan, representing 28% of total revenue. * **Innovation Business**: Revenue of 168 million yuan in Q1-Q3, accounting for approximately 5% of total revenue. 3. Market Outlook * **Industry**: The photovoltaic industry is facing challenges due to overcapacity and falling prices. However, the company remains optimistic about the long-term prospects of the industry. * **Innovation Business**: The company is actively exploring new applications for its technology in the 3C and semiconductor industries, aiming to become a new growth driver. * **海外 Market**: The company is actively expanding its overseas market, although it faces significant challenges due to high risks and low returns in some regions. 4. Customer Strategy * **Customer Diversification**: The company is focusing on diversifying its customer base and moving towards high-end customers. * **Strategic Partnerships**: The company is actively engaging in strategic partnerships with customers to ensure long-term cooperation. 5. Cost Optimization * **R&D Investment**: The company is investing heavily in R&D to optimize costs and improve efficiency. * **Automation**: The company is actively promoting automation to reduce labor costs and improve productivity. * **Energy Efficiency**: The company is committed to improving energy efficiency to reduce costs. Additional Points * **Industry Capacity**: The company believes that industry capacity will continue to decrease due to overcapacity and falling prices. * **Technology Progress**: The company is committed to technological innovation to maintain its competitive advantage. * **Long-term Growth**: The company is confident in its long-term growth prospects and aims to achieve sustainable profitability.

Investment Rating - The investment rating for the company is "Buy" (maintained) [4] Core Views - The company's revenue for Q1-Q3 2024 was 3.43 billion yuan, a year-on-year decrease of 18%, with a net profit attributable to shareholders of 210 million yuan, down 82% year-on-year. The gross margin was 23.0%, down 23.0 percentage points year-on-year, and the net margin was 6.0%, down 21.9 percentage points year-on-year. Future revenue projections for 2024-2026 are 4.66 billion, 5.25 billion, and 6.16 billion yuan, with year-on-year growth rates of -25%, +13%, and +17% respectively. Net profit projections for the same period are 190 million, 540 million, and 790 million yuan, with year-on-year growth rates of -87%, +186%, and +47% respectively. The report expresses optimism about the recovery of wafer prices benefiting the company's processing business and the accelerated penetration of tungsten wire [2][6]. Summary by Sections Financial Performance - For Q1-Q3 2024, the company reported a revenue of 3.43 billion yuan, a decrease of 18% year-on-year, and a net profit of 210 million yuan, down 82% year-on-year. The gross margin was 23.0%, a decline of 23.0 percentage points, while the net margin was 6.0%, down 21.9 percentage points year-on-year. In Q3 alone, revenue was 790 million yuan, a 54% year-on-year decrease, and the net profit was -70 million yuan, down 115% year-on-year [2][6]. Market Outlook - The report anticipates that silicon wafer prices may have bottomed out, leading to a recovery in industry profits. The company is expected to benefit from this recovery in its processing business. Additionally, the tungsten wire segment is projected to see accelerated market penetration, with the company achieving approximately 18 million kilometers of diamond wire shipments in Q3 2024, of which tungsten wire accounted for about 48% [6][2]. Revenue and Profit Forecast - The company forecasts revenues of 4.66 billion, 5.25 billion, and 6.16 billion yuan for 2024, 2025, and 2026 respectively, with corresponding year-on-year growth rates of -25%, +13%, and +17%. Net profits are expected to be 190 million, 540 million, and 790 million yuan for the same years, with year-on-year growth rates of -87%, +186%, and +47% respectively [2][6].

证券代码：688556 证券简称：高测股份 青岛高测科技股份有限公司投资者关系活动记录表 | --- | --- | --- | |-------------------------|--------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...