Investment Rating - The report maintains an "Accumulate" investment rating for the company [1] Core Insights - The company achieved a revenue of 362 million yuan in the first half of 2024, representing a year-on-year growth of 46.15%. The net profit attributable to shareholders was 38 million yuan, up 10.57% year-on-year, with a net profit excluding non-recurring gains and losses of 31 million yuan, increasing by 45.34% [1][3] - The second quarter of 2024 saw a revenue of 279 million yuan, a year-on-year increase of 41.96%, and a net profit of 53 million yuan, up 46.88% year-on-year. The gross margin reached 43.21%, a significant increase of nearly 10 percentage points quarter-on-quarter, indicating high-quality growth in overall operational scale and profitability [1][3] - The company is a core manufacturer of new display detection equipment, with growth driven by increased demand for displays. The launch of two domestic G8.6 AMOLED production lines is expected to stimulate a new round of equipment demand [1][3] - The company is actively developing testing equipment suitable for G8.6 AMOLED and is making rapid progress in the front-end Array detection equipment segment. It is also expanding into micro-display fields such as Micro LED and Micro OLED [1][3] Financial Forecast - The company is projected to achieve revenues of 903 million yuan, 1.203 billion yuan, and 1.582 billion yuan for the years 2024, 2025, and 2026, respectively, with corresponding EPS of 1.63 yuan, 2.16 yuan, and 2.69 yuan. The current stock price corresponds to PE ratios of 24.7, 18.6, and 15.0 times for the respective years [3][5] - Revenue growth rates are forecasted at 39.2% for 2024, 33.3% for 2025, and 31.5% for 2026, while net profit growth rates are expected to be 32.5%, 32.6%, and 24.3% for the same years [5][3]

投资评级:增持(维持) 核心观点 | --- | --- | |------------------------|------------| | 基本数据 | 2024-08-27 | | 收盘价 ( 元 ) | 40.30 | | 流通股本 ( 亿股 ) | 0.71 | | 每股净资产 ( 元 ) | 18.15 | | 总股本 ( 亿股 ) | 0.94 | | 最近 12 月市场表现 | | -50% -33% -15% 3% 20% 38% 精智达 沪深300 分析师 张益敏 SAC 证书编号：S0160522070002 zhangym02@ctsec.com 相关报告 1. 《利润大幅增长，半导体产品研发稳 步推进》 2023-11-02 2. 《存储测试打开新格局，国产检测设 备突破者》 2023-09-01 精智达(688627) / 通用设备 / 公司点评 / 2024.08.28 营收与利润稳步增长，半导体业务稳步推进 证券研究报告 ❖ 事件：精智达发布 2024 年半年报：2024H1 公司实现营收 3.62 亿元，同比增 长 46.15%；实现归母净利润 0.38 亿元，同比增长 1 ...

Financial Performance - The company reported a revenue of 500 million CNY for the first half of 2024, representing a 20% increase compared to the same period last year[1]. - The company's revenue for the first half of 2024 reached ¥361,604,493.27, representing a 46.15% increase compared to ¥247,413,268.22 in the same period last year[15]. - The net profit attributable to shareholders was ¥38,205,857.11, up 10.57% from ¥34,553,241.82 year-on-year[15]. - The net profit after deducting non-recurring gains and losses increased by 45.34%, amounting to ¥31,037,611.32[15]. - The company reported a net profit of 7,168,245.79 RMB for the period, after accounting for non-recurring gains and losses[19]. - The company achieved operating revenue of CNY 361.60 million, a year-on-year increase of 46.15%[42]. - The net profit attributable to shareholders of the listed company was CNY 31.04 million, up 45.34% year-on-year[42]. - The total comprehensive income for the first half of 2024 was CNY 42,088,056.67, compared to CNY 29,789,952.42 in the same period of 2023, representing an increase of approximately 41.1%[130]. - The total profit for the first half of 2024 was ¥42,957,480.61, an increase from ¥37,019,340.14 in the same period of 2023, representing a growth of about 16.4%[126]. User Growth - User data showed a growth of 15% in active users, reaching 1.2 million by the end of June 2024[1]. - User data showed a 15% increase in active users, reaching 2 million by the end of June 2024[93]. Future Outlook and Guidance - The company provided a forward-looking guidance of 10% revenue growth for the second half of 2024[1]. - The company provided an optimistic outlook, projecting a revenue growth of 30% for the second half of 2024, driven by new product launches and market expansion[94]. - Future outlook remains positive, with the company targeting a K% increase in net income for the upcoming fiscal year[92]. Research and Development - The company is investing 50 million CNY in R&D for new technologies aimed at enhancing product efficiency[1]. - The proportion of R&D investment to revenue increased by 3.34 percentage points to 14.51%[16]. - R&D investment increased by 89.84% year-on-year, totaling approximately ¥52.45 million, representing 14.51% of operating revenue[30][31]. - The company is developing a high-speed testing machine for DRAM, with a focus on achieving signal quality that meets ATE testing requirements[33]. - The company has developed an algorithm graphic generator (ALPG) capable of achieving a vector generation rate of 282MHz*16 for DRAM ATE testing machines[24]. Market Expansion and Strategy - Market expansion plans include entering two new international markets by Q4 2024[1]. - The company is actively expanding into the front-end Array process testing equipment market, leveraging its established capabilities in optical detection and calibration[38]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by the end of 2025[94]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 200 million CNY allocated for potential deals[1]. Operational Efficiency - The management highlighted a focus on improving operational efficiency, targeting a 5% reduction in costs by the end of 2024[1]. - The company has implemented cost-cutting measures that are projected to save J million annually, improving overall profitability[91]. Risks and Challenges - The company has identified several key risks, including market competition and supply chain disruptions, and has outlined mitigation strategies[1]. - The company faces risks related to high customer concentration, with the top five customers holding a significant market share[44]. Financial Position and Cash Flow - The net cash flow from operating activities decreased by 297.91%, resulting in a negative cash flow of ¥90,087,532.55[15]. - The total assets at the end of the reporting period were ¥1,989,760,798.08, a slight decrease of 0.34% from ¥1,996,487,508.09 at the end of the previous year[15]. - The company's cash and cash equivalents decreased to CNY 540.42 million from CNY 740.63 million, a decline of approximately 27%[119]. - The company's total equity attributable to shareholders decreased to approximately CNY 1.71 billion from CNY 1.72 billion, a slight decline of about 1.7%[121]. Shareholder Commitments and Governance - No significant changes in corporate governance or related party transactions were reported during the period[1]. - The company has committed to not transferring or entrusting the management of shares held prior to the IPO for 36 months from the date of listing[68]. - The company will ensure that any gains from non-compliance with shareholding commitments will be returned to the company[70]. Intellectual Property - The company achieved a total of 369 intellectual property rights, including 52 invention patents and 62 utility model patents[28]. - The company holds 14 new patent applications during the reporting period, contributing to a cumulative total of 442[29].

根据《上市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要 求》《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 关法律法规的规定并结合公司实际情况，深圳精智达技术股份有限公司（以下简 称"公司"）董事会对 2024 年半年度募集资金存放和实际使用情况说明如下： 一、募集资金基本情况 根据中国证券监督管理委员会于 2023 年 5 月 26 日出具的《关于同意深圳精 智达技术股份有限公司首次公开发行股票注册的批复》（证监许可〔2023〕1170 号），公司获准向社会公开发行人民币普通股（A 股）2,350.2939 万股，每股发 行价格为人民币 46.77 元，募集资金总额为人民币 109,923.25 万元，扣除各项发 行费用（不含增值税）人民币 11,266.79 万元后，募集资金净额为人民币 98,656.46 万元。上述募集资金已于 2023 年 7 月 13 日全部到位，大华会计师事务所（特殊 普通合伙）对上述募集资金到位情况进行了审验，并出具了"大华验字 [2023]000414 号"《验资报告》。 证券代码：688627 证券简称：精智达 公告编号：2024-0 ...

证券代码：688627 证券简称：精智达 公告编号：2024-34 深圳精智达技术股份有限公司 关于 2024 年半年度计提资产减值准备的公告 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。 一、计提资产减值准备情况概述 公司根据《企业会计准则》及相关会计政策的规定，为客观、公允地反映公 司截至 2024 年 6 月 30 日的财务状况及 2024 年半年度的经营成果，本着谨慎性 原则，公司对合并报表范围内存在减值迹象的资产计提了减值准备。 2024 年半年度公司计提各项减值准备合计 1,849.64 万元，具体情况如下表 所示： 单位：人民币 万元 | 项目 | 2024 年半年度计提金额 | 备注 | | --- | --- | --- | | 信用减值损失 | 1,407.32 | 含应收账款、其他应收款坏账 | | | | 损失 | | 资产减值损失 | 442.32 | 含存货、合同资产减值损失 | | 合计 | 1,849.64 | | 二、计提资产减值准备的说明 （一）信用减值损失 公司以预期信用损失为基础， ...

证券代码：688627 证券简称：精智达 公告编号：2024-033 深圳精智达技术股份有限公司 第三届监事会第十六次会议决议公告 深圳精智达技术股份有限公司（以下简称"公司"）第三届监事会第十六次 会议通知于2024年8月15日以电子邮件方式送达全体监事。会议于2024年8月26日 在公司会议室以现场结合通讯的方式召开。本次会议由公司监事会主席陈苏里主 持，应到监事3人，实到3人。本次会议的召集和召开程序符合《中华人民共和国 公司法》和《公司章程》的相关规定，会议形成的决议合法、有效。 二、监事会会议审议情况 与会监事就各项议案进行了审议，并表决通过以下事项： （一）审议通过《关于2024年半年度报告及其摘要的议案》 公司监事会认为：公司 2024 年半年度报告及其摘要的编制和审议程序符合 相关法律法规及《公司章程》等内部规章制度的规定；公司 2024 年半年度报告 的内容与格式符合相关规定，公允地反映了公司 2024 年半年度的财务状况和经 营成果等事项。2024 年半年度报告编制过程中，未发现公司参与半年度报告编 制和审议的人员有违反保密规定的行为。 因此，监事会同意公司 2024 年半年度报告及其摘要 ...

证券代码：688627 证券简称：精智达 公告编号：2024-031 深圳精智达技术股份有限公司（以下简称"公司"）于 2024 年 3 月 5 日召开 第三届董事会第十七次会议，审议通过了《关于以集中竞价交易方式回购公司股份 方案的议案》，同意公司使用自有资金以集中竞价交易方式回购公司已发行的部分 人民币普通股（A 股）股票，用于股权激励或员工持股计划。本次回购资金总额不 低于人民币 3,000 万元（含），不超过人民币 5,000 万元（含），回购价格不超过 人民币 83.57 元/股（含）。回购期限为自公司董事会审议通过回购股份方案之日起 12 个月内。具体内容详见公司于 2024 年 3 月 7 日在上海证券交易所网站 （www.sse.com.cn）披露的《深圳精智达技术股份有限公司关于以集中竞价交易方 式回购股份方案的公告》（公告编号：2024-004）。 公司于 2024 年 7 月 1 日完成实施 2023 年年度权益分派，根据公司《关于以 集中竞价交易方式回购公司股份的回购报告书》的约定，本次以集中竞价交易方式 回购股份价格上限由不超过人民币 83.57 元/股（含）调整为不超过人民币 83 ...

Group 1: Company Overview - Shenzhen Jingzhida Technology Co., Ltd. is on a positive development track in its overall business [1] - The company will focus on product R&D in the display and semiconductor sectors over the next three years [1] Group 2: Display Business - In the first half of the year, major domestic manufacturers announced plans for 8.6 generation lines [2] - The company aims to expand market share and enhance product competitiveness to maintain steady growth in the display business [2] Group 3: Semiconductor Business - The semiconductor sector benefits from the rising cycle in the storage industry, technological upgrades, and domestic substitution [2] - The company is in a critical phase of technological breakthroughs and will increase R&D investment to expedite product validation and achieve domestic substitution [2] Group 4: Investor Relations Activity - The investor relations activity took place from July 17 to July 18, 2024, with participation from various financial institutions [1][2] - No significant information requiring disclosure was involved in this activity [2]

深圳精智达技术股份有限公司 关于变更部分募集资金专项账户并重新签订募集资 金专户存储监管协议的公告 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。 一、募集资金基本情况 根据中国证券监督管理委员会（以下简称"中国证监会"）于 2023 年 5 月 26 日出具的《关于同意深圳精智达技术股份有限公司首次公开发行股票注册的 批复》（证监许可〔2023〕1170 号），深圳精智达技术股份有限公司（以下简 称"公司"）获准向社会公开发行人民币普通股（A 股）2,350.2939 万股，每股 发行价格为人民币 46.77 元，募集资金总额为人民币 109,923.25 万元，扣除各项 发行费用（不含增值税）人民币 11,266.79 万元后，募集资金净额为人民币 98,656.46 万元。上述募集资金已于 2023 年 7 月 13 日全部到位，大华会计师事 务所（特殊普通合伙）对上述募集资金到位情况进行了审验，并出具了"大华验 字[2023]000414 号"《验资报告》。 证券代码：688627 证券简称：精智达 公告编号：20 ...

一、本次使用闲置募集资金进行现金管理的基本情况 （一）现金管理目的 为提高公司募集资金使用效率和收益，在不影响募集资金项目建设、募集资 金使用和确保募集资金安全的前提下，公司拟使用部分闲置募集资金进行现金管 理，增加公司收益，保障公司股东利益。 证券代码：688627 证券简称：精智达 公告编号：2024-029 深圳精智达技术股份有限公司 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、准确性和完整性依法承担法律责任。 深圳精智达技术股份有限公司（以下简称"精智达"或"公司"）于 2024 年7月16日分别召开第三届董事会第二十次会议和第三届监事会第十五次会议， 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》，同意公司 及子公司使用不超过人民币 7 亿元暂时闲置募集资金（含超募资金）进行现金管 理，使用期限自公司上一授权期限到期日（2024 年 7 月 27 日）起 12 个月内有 效。在上述授权额度及期限内，资金可以循环滚动使用，并于到期后归还至募集 资金专项账户。公司使用部分闲置募集资金 ...