Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market index [4]. Core Views - The semiconductor industry is experiencing a recovery driven by AI advancements, leading to increased demand for memory and advanced process chips. Major storage companies are expanding production significantly, with SK Hynix planning to increase DRAM monthly output by 14-15 times compared to Q1 2024, and TSMC raising prices for advanced process foundry services by 8%-10% for AI-related products [1][7]. - The company is well-positioned to benefit from the storage expansion cycle, as its major clients are leading storage firms. The demand for temperature control products is expected to rise due to the increasing costs associated with advanced process development [1][7]. - The company's Q3 performance showed a significant increase in revenue and net profit, with a year-on-year revenue growth of 53.42% in Q3 alone [2]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved revenue of 772 million yuan, a year-on-year increase of 27.84%, and a net profit of 130 million yuan, up 11.14% year-on-year. In Q3, revenue reached 267 million yuan, reflecting a 53.42% increase year-on-year [2]. - The gross margin and net margin for Q3 were 35.42% and 18.73%, respectively, with a decline in net margin attributed to impairment losses and a high base from government subsidies in the previous year [2]. Market Outlook - The company is expected to see revenue growth from 966 million yuan in 2024 to 1.68 billion yuan in 2026, with corresponding net profits projected to rise from 163 million yuan to 284 million yuan over the same period [7][8]. - The report anticipates a strong rebound in the semiconductor equipment market by 2025, driven by increased capital expenditures from downstream manufacturers [1][7]. Key Metrics - The company's total market capitalization is approximately 8.76 billion yuan, with a circulating market value of about 2.1 billion yuan. The stock has seen a 52-week high of 64.00 yuan and a low of 34.01 yuan [3]. - The projected P/E ratios for 2024, 2025, and 2026 are 53.65, 40.80, and 30.82, respectively, indicating a decreasing valuation as earnings grow [8].

Revenue and Profitability - Revenue for Q3 2024 reached ¥267,041,146.02, an increase of 53.42% compared to the same period last year[2] - Net profit attributable to shareholders was ¥50,026,430.09, up 29.53% year-on-year[2] - Net profit excluding non-recurring gains and losses was ¥42,962,011.04, a significant increase of 98.53% compared to the previous year[2] - Total operating revenue for the first three quarters of 2024 reached RMB 772,373,577.20, an increase of 28% compared to RMB 604,169,566.31 in the same period of 2023[15] - Net profit for the first three quarters of 2024 was RMB 129,792,242.86, representing a 11% increase from RMB 116,784,911.31 in the same period of 2023[16] - The company’s total comprehensive income for the third quarter of 2024 was RMB 130,087,235.23, compared to RMB 116,618,249.32 in the same period of 2023[17] Research and Development - R&D investment totaled ¥24,829,566.87 in Q3 2024, representing 9.30% of revenue, an increase of 0.88 percentage points year-on-year[3] - Research and development expenses increased to RMB 69,539,451.46 in the first three quarters of 2024, up 65% from RMB 42,045,562.92 in 2023[15] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,755,255,016.62, reflecting a growth of 31.27% from the end of the previous year[3] - As of September 30, 2024, the company's total assets reached approximately RMB 3.76 billion, an increase from RMB 2.86 billion at the end of 2023, reflecting a growth of about 31.2%[12] - The total liabilities as of the end of the third quarter of 2024 amounted to RMB 1,704,079,182.98, compared to RMB 927,082,856.93 at the end of the same period in 2023[15] - The total current liabilities rose to RMB 1.59 billion, up from RMB 1.02 billion, reflecting an increase of approximately 55.9%[13] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥51,840,089.84, a decrease of 166.10% compared to the same period last year[2] - Operating cash inflow for the first three quarters of 2024 reached CNY 1,013,337,591.99, a significant increase of 35.9% compared to CNY 746,479,778.13 in the same period of 2023[18] - The net cash flow from operating activities for the first three quarters of 2024 was -CNY 51,840,089.84, contrasting with a positive net cash flow of CNY 78,425,033.13 in the first three quarters of 2023[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,511[8] - Basic earnings per share for Q3 2024 were ¥0.30, a decrease of 3.23% year-on-year[3] - Basic earnings per share for the third quarter of 2024 were RMB 0.77, down from RMB 0.93 in the same quarter of 2023[17] Financial Position - The weighted average return on equity was 2.47%, down 3.51 percentage points from the previous year[3] - The company reported a profit before tax of RMB 143,143,404.91 for the first three quarters of 2024, compared to RMB 131,376,000.51 in the previous year[16] - The company’s financial expenses showed a significant improvement, with a net financial income of RMB -6,838,597.97 in the first three quarters of 2024, compared to RMB 260,276.70 in the previous year[15] Inventory and Receivables - Accounts receivable increased significantly to RMB 355.78 million, up from RMB 218.51 million, marking a growth of about 62.8%[12] - Inventory surged to RMB 1.70 billion, compared to RMB 957.35 million, indicating an increase of approximately 77.5%[12] Future Outlook - The company is set to implement new accounting standards starting in 2024, which may affect future financial reporting[21]

公司以预期信用损失为基础，对应收票据、应收账款、其他应收款进行了减 值测试。经测试，本次需计提信用减值损失金额共计 8,669,861.35 元。 单位：人民币元 项目 2024 年 1-9 月计提金额 备注 信用减值损失 8,669,861.35 应收账款及其他应收款坏账损失 资产减值损失 11,286,277.35 存货跌价损失及合同资产减值损失 合计 19,956,138.70 证券代码：688652 证券简称：京仪装备 公告编号：2024-029 北京京仪自动化装备技术股份有限公司 关于 2024 年前三季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、计提减值准备的情况概述 北京京仪自动化装备技术股份有限公司(以下简称"公司")根据《企业会计 准则第 8 号--资产减值》和相关会计政策的规定，结合公司的实际情况，为客 观、公允地反映公司截至 2024 年 9 月 30 日的财务状况和 2024 年 1-9 月的经营 成果，公司对截至 2024 年 9 月 30 日合并范围内存在减值迹 ...

Summary of the Conference Call Company Overview - The conference is hosted by Jingyi Equipment, focusing on the 2024 Semi-Annual Profit Explanation [1] Key Points and Arguments - The meeting is led by Zheng Shuainan, the secretary and financial director of the board, indicating a structured approach to financial communication [1] - The format of the conference includes video recording and online text interaction, suggesting an emphasis on accessibility and transparency for investors and partners [1] Additional Important Content - The opening remarks express gratitude towards investors and partners, highlighting the company's commitment to maintaining strong relationships with stakeholders [1]

证券代码：688652 证券简称：京仪装备 北京京仪自动化装备技术股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | |------------------------|-----------------------------------------------|-----------------------------------------------|-------------------------------------------------------------| | | | | 编号： 2024 - 003 | | | | | | | 投资者关系活动类别 | 特定对象调研 | 分析师会议 | | | | 媒体采访 | 业绩说明会 | | | | 新闻发布会 | 路演活动 | | | | 现场参观 | | | | | | 其他（请文字说明其他活动内容） | | | 参与单位名称及人员姓名 | | | | | | 线上参与公司 2024 | 年半年度业绩说明会的投资者 | | | 时间 | 2024 年 09 月 26 | 日 15:00-17:00 | | ...

北京京仪自动化装备技术股份有限公司 关于召开2024年半年度业绩说明会的公告 一、说明会类型 北京京仪自动化装备技术股份有限公司（以下简称"公司"）已于 2024 年 8 月 30 日在上海证券交易所网站（www.sse.com.cn）披露了《2024 年半年度报 告》。为便于广大投资者更加全面深入地了解公司经营业绩、发展战略等情况， 公司定于 2024 年 09 月 26 日（星期四）15:00-17:00 在"价值在线"（www.ir- 会议召开时间：2024 年 09 月 26 日（星期四）15:00-17:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：视频录播和网络文字互动 会议问题征集： 投 资 者 可 于 2024 年 09 月 26 日 前 访 问 网 址 https://eseb.cn/1hGaHfmulXi 或使用微信扫描下方小程序码进行会前 提问，公司将通过本次业绩说明会，在信息披露允许范围内就投资者普 遍关注的问题进行回答。 证券代码：688652 证券简称：京仪装备 公告编号：2024-028 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 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 54.2 CNY [1][2]. Core Insights - The company achieved a revenue of 505 million CNY in H1 2024, representing a year-on-year increase of 17.49%. The gross margin was 30.42%, down by 8.67 percentage points. The net profit attributable to shareholders was 80 million CNY, up by 2.05%, while the net profit excluding non-recurring items decreased by 15.71% to 60 million CNY [1][2]. - In Q2 2024, the company reported a revenue of 286 million CNY, which is a year-on-year increase of 14.95% and a quarter-on-quarter increase of 30.73%. The gross margin was 26.90%, down by 10.99 percentage points year-on-year and 8.13 percentage points quarter-on-quarter. The net profit attributable to shareholders was 52 million CNY, up by 4.20% year-on-year and 84.44% quarter-on-quarter [1][2]. Revenue Growth and Market Dynamics - The company's revenue growth is supported by downstream wafer factory expansions and the launch of new products. In H1 2024, the revenue from temperature control equipment was 326 million CNY, up by 13.01% year-on-year, while the revenue from exhaust treatment equipment was 150 million CNY, up by 24.21% year-on-year [2]. - The semiconductor equipment market is expected to grow rapidly due to the ongoing expansion of wafer factories and the acceleration of domestic production processes. The company held a 35.73% market share in the domestic semiconductor temperature control equipment market in 2022, ranking first [2]. Product Development and R&D Investment - The company focuses on key core technology development and a diversified product structure to support long-term growth. In H1 2024, R&D investment increased by 63.28% to 45 million CNY [2]. - The company is advancing the platformization of wafer transfer equipment and key components while iterating the performance of temperature control and exhaust treatment equipment [2]. Financial Forecast - The company is projected to achieve net profits of 182 million CNY, 241 million CNY, and 320 million CNY for 2024, 2025, and 2026, respectively, with corresponding EPS of 1.08 CNY, 1.43 CNY, and 1.90 CNY [2][3]. - The report anticipates a revenue growth rate of 39.6% in 2024, followed by 33.6% in 2025 and 28.4% in 2026 [3].

证券代码：688652 证券简称：京仪装备 北京京仪自动化装备技术股份有限公司 投资者关系活动记录表 | --- | --- | --- | |------------------------|-----------------------------------------------------------------------------------------------------------------|-----------------| | | | 编号： 2024-002 | | | | | | | 特定对象调研 分析师会议 | | | | 媒体采访 业绩说明会 | | | | | | | 投资者关系活动类别 | 新闻发布会 路演活动 | | | | 现场参观 | | | | 其他（请文字说明其他活动内容） | | | 参与单位名称及人员姓名 | 国泰君安、中航信托、建信信托、九泰基金、北京朗玛峰创投、 | | | | 汇丰晋信、新华基金、招商证券、上海晨燕资产、深圳进门财 经、才华资本、中金公司、上海方物私募、红杉中国、上海睿扬 | | | | 投资、中信建投、太平洋资产、上海递归私募、 ...

Reporting Period and Audit Status - The reporting period for the financial results is from January 1, 2024, to June 30, 2024[7]. - The report has not been audited, but the management team has confirmed the financial report's integrity[4]. - The company guarantees the authenticity, accuracy, and completeness of the semi-annual report, with no significant risks affecting operations during the reporting period[3]. Financial Performance - The company's operating revenue for the first half of 2024 was CNY 505.33 million, representing a 17.49% increase compared to CNY 430.11 million in the same period last year[14]. - The net profit attributable to shareholders for the same period was CNY 79.77 million, a 2.05% increase from CNY 78.16 million year-on-year[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 15.71% to CNY 59.60 million from CNY 70.70 million in the previous year[14]. - The net cash flow from operating activities was negative CNY 54.39 million, a decrease of 184.34% compared to CNY 64.49 million in the same period last year[16]. - The total assets increased by 17.92% to CNY 3.37 billion from CNY 2.86 billion at the end of the previous year[16]. - The net assets attributable to shareholders increased by 3.46% to CNY 2.00 billion compared to CNY 1.93 billion at the end of the previous year[16]. - Basic earnings per share decreased by 24.19% to CNY 0.47 from CNY 0.62 in the same period last year[17]. - The weighted average return on net assets decreased by 9.26 percentage points to 4.05% from 13.31% in the previous year[17]. Research and Development - The R&D expenditure accounted for 8.85% of operating revenue, an increase of 2.48 percentage points compared to 6.37% in the previous year[17]. - R&D investment totaled ¥44,709,884.59, representing a 63.28% increase compared to ¥27,382,905.04 in the same period last year[41]. - The company has achieved a total of 315 patents and software copyrights as of June 30, 2024, including 101 invention patents[40]. - The company has developed core technologies in semiconductor temperature control devices, enhancing production efficiency in integrated circuit manufacturing[32][33]. - The company has developed advanced semiconductor temperature control technology, which ensures precise temperature control under varying load conditions[35]. Market and Industry Context - The semiconductor equipment industry is experiencing rapid growth, driven by increased capital expenditures in the integrated circuit industry, particularly in wafer manufacturing equipment[21]. - The demand for semiconductor specialized equipment is expected to grow as wafer manufacturing production lines are built and equipment investment increases[21]. - The semiconductor industry in China is undergoing a transition, with a strong domestic demand for localized equipment due to low domestic production capabilities[21]. Corporate Governance and Compliance - The company has not disclosed any special arrangements for corporate governance during this period[4]. - The board of directors was fully present at the board meeting to discuss the report[4]. - There are no violations of decision-making procedures regarding external guarantees[4]. - The company has not reported any administrative penalties related to environmental issues[71]. Shareholder and Dividend Policies - There are no plans for profit distribution or capital reserve conversion into share capital during this reporting period[4]. - The company did not distribute dividends or increase capital reserves, with a payout of 0 per 10 shares[70]. - The company has committed to a profit distribution policy that prioritizes cash dividends over stock dividends, ensuring a stable and continuous return to shareholders[82]. - The company plans to distribute cash dividends amounting to no less than 20% of the distributable profits each year, subject to certain conditions[83]. Environmental Management - Environmental protection investments amounted to 383,500 yuan during the reporting period[72]. - The company has completed the basic setup of the ISO14001 environmental management system and obtained certification in January 2024[72]. - The company has implemented measures for environmental management throughout its R&D and production processes[72]. Risks and Challenges - The company faces risks related to technological upgrades and the potential loss of core R&D personnel, which could impact its competitive edge in the semiconductor equipment industry[51]. - The company is exposed to risks from international trade tensions and supply chain disruptions, which could adversely affect its operations[56]. - The company faces significant competition in the semiconductor equipment market, dominated by international giants, which may impact its market position[52]. Financial Position and Assets - The company's cash and cash equivalents decreased by 56.76% to ¥540,770,788.99, accounting for 16.03% of total assets[59]. - Trading financial assets increased by 200.36% to ¥901,270,163.94, representing 26.72% of total assets[59]. - Accounts receivable rose by 46.71% to ¥320,576,582.49, making up 9.50% of total assets due to increased revenue scale[59]. - Inventory increased by 46.05% to ¥1,398,250,661.32, accounting for 41.45% of total assets, driven by demand growth[60]. Financial Reporting and Accounting Policies - The financial statements have been approved by the board of directors, ensuring compliance and accuracy in reporting[149]. - The company operates under the continuous operation basis and adheres to the accounting standards set by the Ministry of Finance[146]. - The company recognizes revenue when control of goods or services is transferred to the customer, either at a point in time or over a period of time[189]. - The company applies consistent methods for similar government grants, treating them as either reductions in related asset values or as income[192].

北京京仪自动化装备技术股份有限公司 关于 2024 年半年度募集资金存放与实际使用情况的 专项报告 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、准确性和完整性承担法律责任。 证券代码：688652 证券简称：京仪装备 公告编号：2024-026 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（2022年修订）》和《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》有关规定，北京京仪自动化装备技术股份有限公司（以下简称"公 司"或"本公司"）董事会编制了2024年半年度（以下简称"报告期"或"本报 告期"）募集资金存放与实际使用情况专项报告，说明如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会《关于同意北京京仪自动化装备技术股份有限公 司首次公开发行股票注册的批复》（证监许可〔2023〕1778号）核准，本公司获 准向社会公开发行普通股（A股）4,200万股。本次发行委托国泰君安证券股份有 限公司承销，发行价为每股31.95元，实际发行股份数量4,200万股。截至2023年 ...