证券代码：688629 证券简称：华丰科技 公告编号：2025-020 四川华丰科技股份有限公司 投资者可于 2025 年 5 月 21 日（星期三）至 5 月 27 日（星期二）16:00 前登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 security@huafeng796.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 四川华丰科技股份有限公司（以下简称"公司"）已于 2025 年 4 月 29 日发 布公司 2024 年年度报告及 2025 年第一季度报告，为便于广大投资者更全面深入 地了解公司 2024 年度及 2025 年第一季度的经营成果、财务状况，公司计划于 2025 年 5 月 28 日（星期三）09:30-11:30 举行 2024 年度暨 2025 年第一季度业绩 说明会，就投资者关心的问题进行交流。 一、说明会类型 本次业绩说明会以视频结合网络互动形式召开，公司将针对 2024 年度及 2025 年第一季度的经营成果及财务指标的具体情况与投资者进行互动交流和沟 通，在信息披露允许的范围内就投 ...

上海市锦天城律师事务所 关于四川华丰科技股份有限公司 2024 年年度股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于四川华丰科技股份有限公司 2024 年年度股东大会的 法律意见书 致：四川华丰科技股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受四川华丰科技股份有限 公司（以下简称"公司"）委托，根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市 公司股东会规则》等法律、法规、规章和规范性文件以及《四川华丰科技股份有 限公司章程》（以下简称"《公司章程》"）的有关规定，指派本所律所对公司 2024 年年度股东大会（以下简称"本次股东大会"）进行见证，并出具本法律意 见书。 为出具本法律意见书，本所委派律师审查了公司本次股东大会的有关文件和 材料。本所委派律师得到公司如下保证，即其已提供了本所委派律师认为出具本 法律意见书所必需的材料，所 ...

证券代码：688629 证券简称：华丰科技 公告编号：2025-019 四川华丰科技股份有限公司 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 19 日 （二） 股东大会召开的地点：四川省绵阳市经开区三江大道 118 号华丰科技会 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： | 1、出席会议的股东和代理人人数 | 164 | | --- | --- | | 普通股股东人数 | 164 | | 2、出席会议的股东所持有的表决权数量 | 201,403,030 | | 普通股股东所持有表决权数量 | 201,403,030 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 43.6889 | | 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（%） | 43.6889 | 1 ...

Investment Rating - The report assigns a "Buy" rating for the company, Huafeng Technology [1]. Core Viewpoints - Huafeng Technology is positioned as a leading domestic high-speed connector enterprise, benefiting from the surge in AI demand and the ongoing transition towards domestic alternatives in various sectors [11][16]. - The company is expected to experience significant revenue growth, with projections indicating total revenue reaching 24.22 billion, 30.77 billion, and 39.15 billion yuan for the years 2025, 2026, and 2027 respectively [47]. - The report highlights the company's strong customer relationships with major clients such as Huawei, which enhances its market position and growth potential [43][44]. Summary by Sections Company Overview - Established in 1958, Huafeng Technology has evolved from technology introduction to independent innovation, focusing on the connector industry for over 60 years [11]. - The company has become a core player in the domestic connector market, leveraging its technological advancements and strategic partnerships [11][12]. Financial Performance - The company reported a total revenue of 1.09 billion yuan in 2024, marking a 20.83% year-on-year increase, following a decline in 2023 [18]. - Despite a projected net loss of 0.18 billion yuan in 2024 due to increased R&D investments, a significant profit rebound is anticipated in 2025 [19][47]. Business Lines and Growth Drivers - The company operates across three main business lines: communication connectors, defense connectors, and automotive connectors, all of which are expected to benefit from AI advancements and domestic market growth [16][25][39]. - The demand for high-speed connectors is driven by the rapid growth of AI applications and the need for advanced data transmission solutions [26][27]. Customer Relationships and R&D - Huafeng Technology has a high customer concentration, with significant sales coming from major clients in defense and telecommunications [42][43]. - The company has increased its R&D spending, with a rate of 10.45% in 2024, indicating a commitment to innovation and product development [44][46]. Profitability Forecast - The report forecasts that the company's net profit will reach 2.46 billion, 3.58 billion, and 4.50 billion yuan for the years 2025, 2026, and 2027, with substantial growth rates expected in the following years [47]. - The projected P/E ratios for 2025, 2026, and 2027 are 112.95, 77.83, and 61.84 respectively, indicating a strong growth outlook compared to peers [47].

Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Views - The company is experiencing a turning point in performance, with a projected revenue of 1.092 billion yuan in 2024, representing a year-on-year growth of 20.83%. However, the net profit attributable to the parent company is expected to be -0.18 billion yuan, a decline of 124.53% due to strategic expenditures and increased costs in the CPU business [4] - The company is focusing on high-speed and system integration in its product offerings, expanding its capabilities in the server business and defense sectors, and developing high-pressure and high-speed connectors for the new energy vehicle market [5] - Revenue projections for the company are 2.34 billion yuan in 2025, 3.05 billion yuan in 2026, and 4.00 billion yuan in 2027, with net profits expected to be 0.25 billion yuan, 0.35 billion yuan, and 0.49 billion yuan respectively, maintaining a "Buy" rating [6] Company Overview - The latest closing price of the company's stock is 57.47 yuan, with a total market capitalization of 26.5 billion yuan and a circulating market value of 10.2 billion yuan. The company has a total share capital of 4.61 billion shares, with 1.78 billion shares in circulation [3] - The company has a debt-to-asset ratio of 46.8% and a price-to-earnings ratio of -1,436.75, indicating significant financial leverage and current unprofitability [3]

Core Viewpoint - The 2024 Annual General Meeting of Sichuan Huafeng Technology Co., Ltd. is set to discuss various proposals, including financial reports and future plans, while ensuring the rights of shareholders are protected and the meeting is conducted orderly [1][2][3]. Group 1: Meeting Procedures - The meeting will verify the identity of attendees to confirm their eligibility to participate [1]. - Shareholders and their representatives have the right to speak, inquire, and vote during the meeting, and must register in advance to speak [2][3]. - Voting will be conducted through both on-site and online methods, with specific time frames for online voting [5][6]. Group 2: Agenda Items - The agenda includes the review and voting on the 2024 Annual Report, the Board of Directors' work report, the Supervisory Board's work report, and the financial statements for 2024 [8][11][13][14]. - A proposal for the 2025 financial budget and the remuneration plans for directors and supervisors will also be presented for approval [15][16]. - The company plans to propose no profit distribution for 2024 due to a net loss of approximately 17.75 million yuan, aiming to maintain cash flow stability [17][18]. Group 3: Related Transactions - The company anticipates various related party transactions for 2025, including purchasing goods and services from related parties, with specific estimated amounts outlined [19][20]. - The expected total for related transactions is approximately 50 million yuan, with detailed categories and amounts specified [21][22]. - The company emphasizes that these transactions are necessary for daily operations and are conducted at fair market prices [27][28]. Group 4: Guarantees for Subsidiaries - The company plans to provide a guarantee of up to 60 million yuan for its subsidiary, Liuzhou Huafeng Technology Co., Ltd., to support its operational and business development needs [29].

证券代码：688629 证券简称：华丰科技 四川华丰科技股份有限公司 2024年年度股东大会会议资料 2025年5月 | 2024年年度股东大会会议须知 | 2 | | --- | --- | | 2024年年度股东大会会议议程 | 4 | | 2024年年度股东大会会议议案 | 6 | | 议案一：关于公司2024年年度报告及其摘要的议案 | 6 | | 议案二：关于公司2024年度董事会工作报告的议案 | 7 | | 议案三：关于2024年度监事会工作报告的议案 | 8 | | 议案四：关于2024年度财务决算报告的议案 | 9 | | 议案五：关于2025年度财务预算报告的议案 | 10 | | 议案六：关于2025年度董事薪酬方案的议案 | 11 | | 议案七：关于2025年度监事薪酬方案的议案 | 12 | | 议案八：关于2024年度利润分配预案的议案 | 13 | | 议案九：关于预计2025年度日常关联交易的议案 | 15 | | 议案十：关于预计2025年度为控股子公司提供担保额度的议案 | 22 | | 议案十一：关于购买董监高责任险的议案 | 25 | | 附件一： 2024年度董事会 ...

截至5月8日收盘，铜缆高速连接概念上涨3.04%，位居概念板块涨幅第3，板块内，35股上涨，沃尔核 材涨停，神宇股份、兆龙互连、露笑科技等涨幅居前，分别上涨7.55%、6.65%、5.98%。跌幅居前的有 华丰科技、裕太微、意华股份等，分别下跌3.28%、1.21%、0.34%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 成飞概念 | 7.01 | 大豆 | -1.62 | | 大飞机 | 3.06 | PEEK材料 | -1.39 | | 铜缆高速连接 | 3.04 | 转基因 | -1.12 | | 军工信息化 | 2.96 | 玉米 | -1.00 | | 太赫兹 | 2.90 | 氟化工概念 | -0.79 | | 军民融合 | 2.87 | 化肥 | -0.70 | | 航空发动机 | 2.86 | 粮食概念 | -0.62 | | 共享单车 | 2.86 | 环氧丙烷 | -0.60 | | 空气能热泵 | 2.76 | 黄金概念 | -0.52 | | F5G概念 | 2.35 | 金属铅 ...

丨证券研究报告丨 联合研究丨公司点评丨华丰科技（688629.SH） [Table_Title] 乘风：AI 算力扬帆，高速连接器破浪高增 报告要点 [Table_Summary] AI 应用逐步落地，自主可控需求强烈，国内算力景气度高。高速连接器为高性价比的短距通信 方案，有望在 AI 算力集群加速渗透，公司高速线模组产品有望受益。预计 2025-2027 年归母 净利润为 2.78、3.71、4.86 亿元，维持"买入"评级。 分析师及联系人 [Table_Author] 于海宁 王贺嘉 刘泽龙 SAC：S0490517110002 SAC：S0490520110004 SAC：S0490525040002 SFC：BUX641 SFC：BUX462 %% %% %% %% research.95579.com 1 华丰科技（688629.SH） cjzqdt11111 [Table_Title2] 乘风：AI 算力扬帆，高速连接器破浪高增 [Table_Summary2] 事件描述 请阅读最后评级说明和重要声明 华丰科技发布 2024 年年报和 2025 年一季报。2024 年，公司实现营业收入 10. ...

Core Viewpoint - The company has reported a significant increase in revenue for 2024 and the first quarter of 2025, indicating a potential turning point in performance despite a net loss for the full year of 2024 [1][2]. Financial Performance - In 2024, the company achieved a total revenue of 1.092 billion yuan, representing a year-on-year increase of 20.83% [1]. - The net profit attributable to the parent company for 2024 was a loss of 0.18 billion yuan, a decline of 124.53% year-on-year [2]. - For the first quarter of 2025, the company reported a revenue of 0.406 billion yuan, a substantial increase of 79.82% year-on-year [1][2]. - The net profit attributable to the parent company for Q1 2025 was 0.32 billion yuan, reflecting a year-on-year increase of 207.7% [1][2]. Market Dynamics - The company is benefiting from the ongoing trend of reducing reliance on NVIDIA chips due to U.S. export restrictions, which has accelerated the domestic shift towards alternative AI chips [3]. - The Huawei Ascend 910C chip has emerged as a key player in the domestic AI server market, achieving performance levels comparable to high-end GPUs [4]. Product Development - The company focuses on high-speed backplane connectors and has developed a series of competitive products, including power connectors and RF connectors, which are essential for data centers and cloud computing infrastructure [5]. - The company has made significant advancements in high-speed line modules, which enhance signal transmission efficiency between servers and switches [7][8]. Growth Projections - Revenue forecasts for the company from 2025 to 2027 are projected to be 2.129 billion, 2.799 billion, and 3.150 billion yuan, respectively, with corresponding EPS estimates of 0.42, 0.61, and 0.88 yuan [9]. - The company is expected to benefit from the increasing penetration of domestic AI computing capabilities, which will enhance the demand for its high-speed backplane connectors [9].