Summary of the Conference Call Company and Industry Overview - The conference call pertains to **Zhimin Da** (智明达), a company operating in the **defense and aerospace industry**. The discussion includes financial performance and future outlook for the company. Key Financial Highlights - **2024 Financial Performance**: - Revenue: **430 million** (down **30%** year-on-year) [1] - Net Profit: **19.25 million** (down **80%** year-on-year) [1] - Non-recurring Net Profit: **11.91 million** (down **80%** year-on-year) [1] Core Business Insights - The company has focused on **cost reduction and efficiency improvements** in the supply chain while deepening its existing smart manufacturing products [2]. - Significant projects include: - **Drones** and **anti-drone systems** - **Low-altitude economy projects** - **Commercial space projects** including rockets and satellite communication equipment [2]. - The company has made early investments in **AI technology**, with projects in visual landing, image processing for guidance systems, and drone coordination already being implemented [2]. Order and Demand Trends - Orders for many models have been delayed until the fourth quarter due to industry conditions, impacting revenue and profit [2]. - The company reported a **significant increase in orders** at the beginning of 2025, indicating a potential industry recovery [3]. - As of February 21, 2025, the company has approximately **700 million** in orders, a significant increase from previous figures [5]. Profitability and Margin Analysis - The gross margin has fluctuated, with a reported **45%** in 2024, stabilizing from a previous decline [5]. - The company anticipates maintaining a gross margin around **45%** moving forward, despite pressures from procurement costs and pricing [5]. Commercial Space and AI Developments - The commercial space segment generated approximately **1.3 million** in revenue in 2024, with expectations for significant growth in 2025 due to a low base [6][7]. - The company has been involved in **57 AI projects**, with 20 already implemented in various applications, including optical, radar, and communication systems [9][11]. - Future AI projects are expected to generate between **20 million** to **40 million** in revenue by 2025, with long-term projections suggesting potential revenues of **2 billion** to **3 billion** by 2027 [12]. Market Dynamics and Competitive Landscape - The company is facing competition from **private enterprises** in the commercial space sector, which are pushing for lower costs while maintaining performance standards [28]. - The company is adapting to this trend by exploring cost-reduction strategies without compromising on quality [28]. Future Outlook - The company expects to see a **rebound in demand** in 2025, with projections to at least match or exceed 2023 revenue levels [31]. - The production capacity has been expanded with a new **15,000 square meter facility**, which is designed to support a production output of **2 billion** to **3 billion** [35]. Additional Considerations - The company is not currently considering stock options as a form of employee incentive due to market conditions [36]. - There is a focus on maintaining stable operational costs and managing personnel effectively to support growth [38]. This summary encapsulates the key points discussed during the conference call, highlighting the company's financial performance, strategic initiatives, and market outlook.

Financial Performance - Total operating revenue for 2024 was RMB 437.93 million, a decrease of 33.95% compared to the previous year[4] - Net profit attributable to shareholders of the parent company was RMB 19.25 million, down 80.00% year-on-year[4] - The basic earnings per share decreased to RMB 0.17, a decline of 80.23% from RMB 1.28 in the previous year[4] - The net asset value per share decreased by 32.06% to RMB 9.81[9] Assets and Equity - Total assets at the end of the reporting period were RMB 1,529.19 million, a slight decrease of 0.29% from the beginning of the period[9] - The company's equity attributable to shareholders of the parent company increased by 1.65% to RMB 1,104.33 million[9] - The company's share capital increased by 49.60% due to a capital reserve conversion plan approved at the annual shareholders' meeting[11] Product Development and Market Challenges - The company expanded its product applications in UAVs, low-altitude economy, and commercial aerospace during the reporting period[7] - AI technology applications have been successfully integrated into various products, including visual landing and drone collaborative control[7] - The company faced delays in multi-model orders, leading to lower-than-expected new orders during the reporting period[10]

证券代码：688636 证券简称：智明达 公告编号：2025-002 成都智明达电子股份有限公司 关于持股 5%以上股东集中竞价减持股份计划公告 本公司董事会、全体董事及相关股东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： 持股 5%以上股东持股的基本情况 截至本公告披露日，共青城智为投资合伙企业（有限合伙）（曾用名为"成 都智为企业管理合伙企业（有限合伙）"，以下简称"共青城智为"）持有成都智 明达电子股份有限公司（以下简称"公司"或"智明达"）股份 6,373,904 股， 占公司总股本的 5.66%。王勇、张跃为公司实际控制人，王勇系共青城智为执行 事务合伙人，与共青城智为形成一致行动人关系，上述一致行动人合计持有公司 股份 44,137,804 股，占公司总股本的 39.21%。上述股份为公司首次公开发行前 及资本公积转增股本取得的股份，且已于 2024 年 4 月 8 日解除限售并上市流通。 集中竞价减持计划的主要内容 共青城智为因自身资金需求，拟通过集中竞价交易方式减持其所持有的公司 股份合计不超过 1,125, ...

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Revenue and Profit Forecast - The company expects 2024 annual revenue to be between 400 million and 450 million yuan, a decrease of 213 million to 263 million yuan compared to the previous year, representing a decline of 32.13% to 39.67%[3] - The projected net profit attributable to the parent company for 2024 is estimated to be between 18 million and 22 million yuan, a decrease of 74.26 million to 78.26 million yuan year-on-year, reflecting a decline of 77.14% to 81.30%[3] - In 2023, the company achieved an annual revenue of 663 million yuan and a net profit of 96.26 million yuan[5] Reasons for Decline - The significant decline in revenue and net profit is primarily due to industry factors, including delayed orders and lower-than-expected new orders during the reporting period[6] - The decrease in net profit is also attributed to the absence of investment income from the transfer of equity stakes in associated companies, which occurred in the previous year[7] Financial Data and Uncertainties - The financial data in the earnings forecast has not been audited by a registered accountant and is based on preliminary calculations by the company's finance department[4] - The company has not identified any major uncertainties that could affect the accuracy of this earnings forecast as of the announcement date[8] - Investors are advised that the forecast data is preliminary and the accurate financial data will be disclosed in the official 2024 annual report[9]

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成都智明达电子股份有限公司（以下简称"公司"）首次公开发行股票募集 资金按照相关法律、法规、规范性文件的规定在银行开立了募集资金专项账户。 鉴于公司首次公开发行股票募集资金投资项目已经结项，公司于近日办理完成了 首次公开发行股票募集资金专户的注销手续，具体情况如下： 一、募集资金基本情况 证券代码：688636 证券简称：智明达 公告编号：2024-094 经中国证券监督管理委员会《关于同意成都智明达电子股份有限公司首次公 开发行股票注册的批复》（证监许可〔2021〕615 号）同意注册，成都智明达电子 股份有限公司（以下简称"公司"）向社会公开发行人民币普通股 1,250.00 万股， 每股发行价为人民币 34.50 元，合计募集资金人民币 43,125.00 万元，扣除各项 发行费用（不含税）人民币 4,942.38 万元后，募集资金净额为 38,182.62 万元。 上述募集资金已于 2021 年 4 月 1 日全部到位，并由信永中和会计师事务所（特 殊普通合伙）出具了验资报告（编号"XYZH/2021BJAG10184 号"）。 成都智明达电子股份有限公司 关于首次公开发行股票募集资金专户销户完成的 ...

北京中伦（成都）律师事务所 关于成都智明达电子股份有限公司 2024 年第四次临时股东会的 法律意见书 【2024】中伦成律（见）字第 136223-0002-121201 号 致：成都智明达电子股份有限公司 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》"）、中国证券监督管理委员会《上市公司股东大 会规则》（以下简称"《股东大会规则》"）及《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》（以下简称"《科创板规范运作指引》"）等法律、 行政法规和规范性文件及《成都智明达电子股份有限公司章程》（以下简称"公 司章程"）的规定，北京中伦（成都）律师事务所（以下简称"中伦"或"本所"） 接受成都智明达电子股份有限公司（以下简称"公司"）的委托，指派律师出席 了公司 2024 年第四次临时股东会（以下简称"本次股东会"），并对本次股东会 的相关事项进行见证，依法出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1．公司章程； 法律意见书 根据公司第三届董事会第二十三次会议决议、公司关于召开 2024 ...

证券代码：688636 证券简称：智明达 公告编号：2024-093 成都智明达电子股份有限公司 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （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 | 39 | | --- | --- | | 普通股股东人数 | 39 | | 2、出席会议的股东所持有的表决权数量 | 33,531,849 | | 普通股股东所持有表决权数量 | 33,531,849 | | 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 | 29.7897 | | 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（%） | 29.7897 | （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。 2024 年第四次临时股东会决议公告 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： 本次股东会由公司董事会召集，由董事长王勇先生担任会议主持人主持会议。 会议采取 ...

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。 成都智明达电子股份有限公司（以下简称"公司"）于2024年5月16日召开了 第三届董事会第十七次会议，第三届监事会第十五次会议，审议通过了《关于使用 部分闲置募集资金临时补充流动资金的议案》，同意公司在确保不影响募集资金投 资项目实施及募集资金使用的情况下，使用额度不超过人民币2,000万元（含本数） 的闲置募集资金临时补充流动资金，使用期限自董事会审议通过之日起不超过12个 月（含12个月）。具体内容详见公司2024年5月17日披露于上海证券交易所官网 （www.sse.com.cn）的《关于使用部分闲置募集资金临时补充流动资金》（公告编 号：2024-036）。 证券代码：688636 证券简称：智明达 公告编号：2024-092 2024年12月9日，公司将前述临时用于补充流动资金的剩余募集资金900万元提 前归还至募集资金专户，并将募集资金归还情况通知了公司保荐机构及保荐代表人。 成都智明达电子股份限公司 关于提前归还部分募集资金的公告 截至本公告披露之日，公司已全部 ...