北京国枫律师事务所 关于深圳市三旺通信股份有限公司 2022 年限制性股票激励计划之 回购及作废部分限制性股票的 法律意见书 国枫律证字[2022]AN272-6 号 GRANDWAY 致:深圳市三旺通信股份有限公司 北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7 层 邮编: 100005 电话（Tel）: 010-88004488/66090088 传真（Fax）: 010-66090016 北京国枫律师事务所 关于深圳市三旺通信股份有限公司 2022 年限制性股票激励计划之 回购及作废部分限制性股票的 法律意见书 国枫律证字[2022]AN272-6 号 本所接受公司委托,担任公司实施2022年限制性股票激励计划的专项法律 顾问,并已根据《公司法》《证券法》《管理办法》等相关法律、法规、规章 及规范性文件出具了《北京国枫律师事务所关于深圳市三旺通信股份有限公司 2022 年限制性股票激励计划的法律意见书》《北京国枫律师事务所关于深圳市 三旺通信股份有限公司 2022 年限制性股票激励计划首次授予事项的法律意见 书》《北京国枫律师事务所关于深圳市 ...

Core Viewpoint - Sanwang Communication reported its 2024 annual and 2025 Q1 financial results, highlighting a revenue of 357 million yuan and a net profit of 32.82 million yuan for 2024, with a cash dividend distribution plan of 17.66 million yuan [1] Financial Performance - In Q1 2025, Sanwang Communication achieved a revenue of 80.79 million yuan, representing a year-on-year growth of 7.01%, with a net profit of 7.97 million yuan [1] - For the year 2024, the company generated revenue across various sectors: 191 million yuan from smart energy, 61.30 million yuan from smart transportation, 36.60 million yuan from industrial internet, 27.05 million yuan from smart cities, and 40.62 million yuan from other sectors [2] - The industrial switch products, industrial gateways and wireless products, and solution products generated revenues of 281 million yuan, 57.21 million yuan, and 8.31 million yuan respectively, with industrial gateways and wireless products seeing a year-on-year growth of 9.52% [2] Strategic Focus - The company aims to enhance its brand recognition and expand into emerging and overseas markets, leveraging the Shanghai Industrial Internet Industry Base [1] - Sanwang Communication plans to invest in key technology areas such as industrial communication, TSN, HaaS, industrial AI, 6G, and industrial control, focusing on integrating AI technology into industrial communication products for improved network reliability [2] - The company is actively researching cutting-edge communication technologies like 6G, WiFi7, and Starlink, ensuring it remains at the forefront of industry innovation [3] - In the smart energy sector, Sanwang Communication intends to provide customized communication solutions for new energy generation and smart grid transformation, while also expanding into emerging markets like robotics and energy storage [3]

Financial Performance - The company's basic earnings per share decreased by 69.39% from 0.9800 yuan in 2023 to 0.3000 yuan in 2024 [1] - The net profit dropped by 69.72%, from 1.09 billion yuan in 2023 to 0.33 billion yuan in 2024 [1] - The return on equity fell by 71.11%, from 13.05% in 2023 to 3.77% in 2024 [1] - Total revenue decreased by 18.68%, from 4.39 billion yuan in 2023 to 3.57 billion yuan in 2024 [1] - The net asset per share declined by 34.18%, from 11.85 yuan in 2023 to 7.8 yuan in 2024 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 83.352 million shares, accounting for 75.75% of the circulating shares, with a decrease of 1.1133 million shares compared to the previous period [1] - Shenzhen Qilingdai Holdings Co., Ltd. remains the largest shareholder with 43.808 million shares, representing 39.81% of the total share capital [2] - New entrants among the top shareholders include Suqian Juyoucheng Management Consulting Partnership with 10.952 million shares, accounting for 9.95% [2] - Notable exits from the top ten shareholders include Shanghai Juyou Management Consulting Partnership [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688618 证券简称：三旺通信 公告编号：2025-016 深圳市三旺通信股份有限公司关于与私募基金合作投资公告 ● 拟投资金额、在投资基金中的占比及身份：公司拟作为有限合伙人以自有资金认缴出资653.40万元人 民币，认缴五河玖兆三旺基金29.8492%的出资额。 ● 相关风险提示： 1、本次合作投资相关文件尚未完成签署，协议内容和具体操作方式以各方最终签署的正式协议为准， 本事项实施过程尚存在一定的不确定性。 2、本次投资事项尚需进行工商登记、基金备案等手续，具体实施情况和进度尚存在不确定性。 3、投资私募基金具有投资周期长、流动性较低等特点，公司作为基金的有限合伙人承担的风险敞口以 投资额为限，本次投资无保本及最低收益的承诺。公司作为有限合伙人，在五河玖兆三旺基金的投资决 策委员会中无席位，不参与基金的投资决策行为，无法完全控制基金投资风险。 4、本次投资可能会受到宏观经济、产业政策、市场环境、投资标的公司经营管理等多种因素影响，可 能面临投资后无法实现预期收益甚至亏损、不能及时有效退出的风险。 一、合作投资概述 （一）合作投资的基本情况 本 ...

证券代码：688618 证券简称：三旺通信 公告编号：2025-016 深圳市三旺通信股份有限公司 关于与私募基金合作投资公告 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。 3、投资私募基金具有投资周期长、流动性较低等特点，公司作为基金的有限合伙 人承担的风险敞口以投资额为限，本次投资无保本及最低收益的承诺。公司作为有限 合伙人，在五河玖兆三旺基金的投资决策委员会中无席位，不参与基金的投资决策行 为，无法完全控制基金投资风险。 4、本次投资可能会受到宏观经济、产业政策、市场环境、投资标的公司经营管理 等多种因素影响，可能面临投资后无法实现预期收益甚至亏损、不能及时有效退出的 风险。 1 一、合作投资概述 重要内容提示： 拟投资基金名称及投资方向，与上市公司主营业务相关性：深圳市三旺通信股 份有限公司（以下简称"公司"）拟与昆山玖兆康乾投资管理有限公司（以下简称"玖 兆投资"）共同投资设立五河玖兆三旺创业投资基金合伙企业（有限合伙）（以下简 称"合伙企业"、"五河玖兆三旺基金"、"基金"）。五河玖兆三旺基金主要用于 对南京 ...

深圳市三旺通信股份有限公司 关于持股 5%以上股东减持股份计划公告 公司持股 5%以上股东宿迁钜有诚管理咨询合伙企业（有限合伙）保证向本公司提 供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或者重大遗漏。 本公司及董事会全体成员保证本公告内容与信息披露义务人提供的信息一致。 重要内容提示： 股东持股的基本情况 证券代码：688618 证券简称：三旺通信 公告编号：2025-015 公司实际控制人、董事长、总经理熊伟先生为钜有咨询执行事务合伙人，公司近 日已收到熊伟先生出具的《关于不参与钜有咨询减持事项的承诺函》，熊伟先生承诺 不参与本次减持事项。本次拟减持的股份系公司董事吴健先生、董事、副总经理袁自 军先生通过钜有咨询间接持有的公司股份。本次减持股份不会导致公司控制权发生变 1 更，不会对公司治理结构及持续经营产生影响。 一、减持主体的基本情况 | 宿迁钜有诚管理咨询 | 5%以上非第 | 10,952,000 | 9.92% | IPO 前取得：5,000,000 股 | | | --- | --- | --- | --- | --- | --- | | 股东名称 合伙企业（有限合伙） | 股东身份 ...

人民财讯3月13日电，三旺通信(688618)3月13日晚间公告，公司持股9.92%的股东宿迁钜有诚管理咨询 合伙企业（有限合伙）（简称"钜有咨询"）因自身资金需要拟通过集中竞价交易、大宗交易的方式减持 其所持有的公司股份数量合计不超过331.09万股，即不超过公司总股本的3%。 ...

证券代码：688618 证券简称：三旺通信 公告编号：2025-014 深圳市三旺通信股份有限公司 关于核心技术人员变动的公告 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。 重要内容提示： 根据深圳市三旺通信股份有限公司（以下简称"公司"或"三旺通信"）战略 发展需要，公司对部分核心技术人员工作岗位进行调整。基于新任岗位的工作职责， 公司不再认定杨敬力先生为公司核心技术人员，其负责的工作已顺利完成交接，目前 仍在公司任职，负责其他重要工作。 因公司已与核心技术人员严朝廷先生协商解除劳动关系，其不再担任公司任何 职务，并已办理完成相关离职手续，公司不再认定严朝廷先生为核心技术人员。 本次核心技术人员的变动不存在涉及职务发明专利等知识产权权属纠纷或潜在 纠纷的情形，亦不存在影响公司知识产权权属完整性的情况，不会对公司的技术研发、 核心竞争力和持续经营能力产生重大不利影响。 一、核心技术人员变动的具体情况 （一）核心技术人员调整情况 因战略发展需要，公司对核心技术人员杨敬力先生工作岗位进行调整，基于新任 岗位的工作职责，公司不 ...

Investment Rating - The report assigns a "Recommended" rating to the company [9]. Core Viewpoints - The company has demonstrated strong capabilities in technological innovation and market expansion, establishing itself as a leading brand in the domestic industrial internet communication sector since its inception in 2001 [3][12]. - The domestic industrial communication market is still in its early stages, currently accounting for only 20% of the global market share [4][23]. - The company is strategically positioning itself to benefit from the accelerated investment in the power grid, with significant growth expected in the electricity sector by 2025 [4][31]. Summary by Relevant Sections Company Overview - The company has evolved through three major phases: "Startup - Deepening - Innovation Leadership," successfully launching the first domestic industrial-grade converter and expanding its product line to include embedded industrial Ethernet modules and switches [3][12]. - It has gained recognition as a "National High-tech Enterprise" and has established a strong brand presence in key sectors such as smart energy, smart cities, smart transportation, and industrial internet [3][12]. Market Analysis - The global industrial internet communication equipment industry generated revenues of $2.65 billion in 2018 and $3.08 billion in 2019, with industrial Ethernet switches being the primary market segment [4][27]. - In 2020, the domestic industrial communication market was valued at 4.21 billion yuan, indicating a 20% share of the global market [4][27]. Investment Opportunities - The report highlights that the total investment in the power grid by State Grid and Southern Grid is expected to exceed 825 billion yuan by 2025, marking a significant increase from 2024 [4][31]. - The company’s new power system communication solutions are designed to enhance real-time monitoring and intelligent management of power equipment, which is crucial for improving operational efficiency and reducing energy consumption [4][37]. Financial Forecast - The company is projected to achieve revenues of 357 million yuan, 446 million yuan, and 558 million yuan for the years 2024, 2025, and 2026, respectively, with corresponding net profits of 34 million yuan, 64 million yuan, and 97 million yuan [5][45]. - The price-to-earnings (PE) ratios are expected to be 56X, 30X, and 19X for the same years [5][45].

Investment Rating - The report gives a "Buy" rating for Sanwang Communication [9]. Core Viewpoints - Sanwang Communication has demonstrated strong capabilities in technology innovation and market expansion, establishing itself as a leading brand in the domestic industrial internet communication sector. The company has evolved through three stages: initial establishment, deepening its market presence, and leading innovation [3][12]. - The domestic industrial communication market is still in its early stages, currently accounting for only 20% of the global market share. In 2020, the domestic market size was approximately 4.21 billion yuan [4][23]. - The report highlights that investment in the power grid is entering an accelerated phase, with significant opportunities for Sanwang Communication as it actively positions itself in power communication solutions. By 2025, total investment from the State Grid and Southern Grid is expected to exceed 825 billion yuan, marking a substantial increase from 2024 [4][31][35]. Summary by Sections Company Overview - Established in 2001, Sanwang Communication specializes in industrial internet solutions and has been recognized as a national high-tech enterprise. The company has developed a range of products including industrial-grade converters and embedded industrial Ethernet modules, which are widely used in various sectors such as smart cities and transportation [3][5]. Market Analysis - The global industrial internet communication equipment industry generated revenues of 2.65 billion USD in 2018 and 3.08 billion USD in 2019, with industrial Ethernet switches being the primary market segment. The domestic market was valued at 4.21 billion yuan in 2020, indicating a growing opportunity for Sanwang Communication [4][27]. Investment Opportunities - The report emphasizes that the power grid investment is set to accelerate, with the State Grid's investment projected to reach 609.2 billion yuan in 2024 and exceed 650 billion yuan in 2025. This growth is primarily driven by the need for renewable energy integration and smart grid transformation [31][35]. - Sanwang Communication's new power system communication solutions are designed to enhance real-time monitoring and intelligent management of power equipment, which is expected to become a new revenue growth point for the company by 2025 [4][37]. Financial Forecast - The report forecasts Sanwang Communication's revenue to be 357 million yuan in 2024, 446 million yuan in 2025, and 558 million yuan in 2026, with corresponding net profits of 34 million yuan, 64 million yuan, and 97 million yuan respectively. The price-to-earnings ratios are projected to be 56X, 30X, and 19X for the same years [5][45].