证券代码：688655 证券简称：迅捷兴 公告编号：2025-039 深圳市迅捷兴科技股份有限公司 关于 2025 年第一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、计提资产减值准备情况概况 | 项目 | | 本期金额 | | --- | --- | --- | | 信用减值损失 | 应收票据坏账损失 | 221,929.84 | | | 应收账款坏账损失 | -508,091.15 | | | 其他应收款坏账损失 | 11,388.71 | | | 小计 | -274,772.60 | | 资产减值损失 | 存货跌价损失 | -2,119,701.45 | | | 小计 | -2,119,701.45 | | 合计 | | -2,394,474.05 | 二、2024 年度计提资产减值准备事项的具体说明 （一）信用减值损失 公司以预期信用损失为基础，对应收账款、应收票据、其他应收款进行减值 测试并确认减值损失。经测试，公司 2025 年第一季度计提信用减值损失金额 274,772.60 ...

证券代码：688655 证券简称：迅捷兴 公告编号：2025-038 深圳市迅捷兴科技股份有限公司 关于召开 2025 年第一季度业绩说明会的公告 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： 会议召开时间：2025 年 05 月 19 日 （星期一）09:00-10:00 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 05 月 12 日（星期一）至 05 月 16 日（星期五）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 zqb@jxpcb.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。 深圳市迅捷兴科技股份有限公司（以下简称"公司"）已于 2025 年 4 月 26 日发布公司 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 2025 年第一季度经营成果、财务状况，公司计划于 2025 年 05 月 19 日（星期一） 09:00-10:00 举行 2025 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 ...

本公司监事会及全体监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、 监事会会议召开情况 证券代码：688655 证券简称：迅捷兴 公告编号：2025-040 深圳市迅捷兴科技股份有限公司 第三届监事会第二十六次会议决议公告 深圳市迅捷兴科技股份有限公司（以下简称"公司"）第三届监事会第二十 六次会议于 2025 年 4 月 25 日（星期五）在深圳市宝安区沙井街道沙四东宝工业 区 G 栋三楼会议室一以现场的方式召开。会议通知已于 2025 年 4 月 21 日通过邮 件的方式送达各位监事。本次会议应出席监事 3 人，实际出席监事 3 人。 会议由监事会主席张仁德主持。会议的召集和召开程序符合有关法律、法规、 规章和《公司章程》的规定。 二、 监事会会议审议情况 经与会监事认真审议，做出如下决议： （一）审议通过《关于公司 2025 年第一季度报告的议案》 监事会认为：公司 2025 年第一季度报告的编制和审议程序符合相关法律法规 和《公司章程》等内部规章制度的规定，报告真实、公允的反映了公司 2025 年第 一季度的财务状况和经营成果等 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 123,530,947.47, representing a 21.42% increase compared to CNY 101,736,786.98 in the same period last year[4] - The net profit attributable to shareholders was a loss of CNY 4,854,681.90, worsening from a loss of CNY 1,259,405.20 year-over-year[4] - The net loss for Q1 2025 was ¥4,854,681.90, compared to a net loss of ¥1,259,405.20 in Q1 2024, indicating a significant increase in losses[18] - The operating profit for Q1 2025 was reported at -¥4,920,502.45, worsening from -¥1,279,597.52 in Q1 2024[16] - The total profit before tax for Q1 2025 was a loss of CNY 380.71 million, compared to a profit of CNY 4.15 million in Q1 2024[26] Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 9,127,304.82, a decline of 271.66% compared to a positive cash flow of CNY 5,316,992.52 in the previous year[4] - In Q1 2025, the company reported cash inflows from operating activities of CNY 114,696,872.14, a slight increase from CNY 111,801,908.12 in Q1 2024, representing a growth of approximately 2.5%[20] - The net cash outflow from operating activities in Q1 2025 was CNY -9,127,304.82, compared to a positive cash flow of CNY 5,316,992.52 in Q1 2024, indicating a significant decline in operational cash generation[20] - The company's cash and cash equivalents at the end of Q1 2025 stood at CNY 129,299,208.67, down from CNY 172,538,052.98 at the end of Q1 2024, a decrease of approximately 25.1%[21] Assets and Liabilities - Total assets increased by 2.06% to CNY 1,165,077,461.71 from CNY 1,141,545,587.01 at the end of the previous year[5] - The total liabilities increased to RMB 420,450,349.71, up from RMB 396,305,701.93, indicating a growth of about 6.5%[14] - The company's total liabilities increased to CNY 285,558,115.15 as of March 31, 2025, compared to CNY 255,817,228.30 at the end of 2024, indicating a rise of approximately 11.6%[24] - The total equity attributable to shareholders decreased to ¥677,173,804.13 in Q1 2025 from ¥680,313,768.37 in Q1 2024[15] Research and Development - Research and development expenses totaled CNY 7,863,984.32, accounting for 6.37% of operating revenue, down from 8.18% in the previous year[5] - Research and development expenses for Q1 2025 amounted to ¥7,863,984.32, slightly down from ¥8,322,407.48 in Q1 2024[16] - Research and development expenses decreased to CNY 3.65 million in Q1 2025 from CNY 4.04 million in Q1 2024, reflecting a 9.66% reduction[25] Employee Compensation and Costs - The company reported a significant increase in employee compensation payments, totaling CNY 34,829,284.75 in Q1 2025, compared to CNY 28,492,809.43 in Q1 2024, representing a rise of approximately 22.4%[20] - The company incurred a total operating cost of CNY 73.20 million in Q1 2025, up from CNY 70.12 million in Q1 2024, representing a 4.00% increase[25] Financing Activities - Cash inflows from financing activities in Q1 2025 totaled CNY 58,364,616.31, up from CNY 30,000,000.00 in Q1 2024, marking an increase of 94.5%[21] - The company raised CNY 51.50 million through borrowings in Q1 2025, compared to CNY 30.00 million in Q1 2024, indicating increased financing activity[28] Other Notable Points - The company incurred non-recurring losses of CNY 518,894.63 during the reporting period[8] - The company is in the preparation phase for the new Zhuhai smart model factory, which has led to increased labor costs of CNY 3.59 million[8] - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[12] - Future outlook and guidance were not explicitly detailed in the provided documents, indicating a need for further clarification in upcoming communications[17]

一、主要会计数据和财务指标 | 名称 持有数量(万股) | | 占总股本比例(%) | 增减情况(万股) | | --- | --- | --- | --- | | 马卓 | 5157.31 | 38.66 | 不变 | | 惠州联讯德威投资合伙企业(有限合伙) | 590.33 | 4.43 | 不变 | | 杨春光 | 380.72 | 2.85 | 不变 | | 李雪梅 | 312.01 | 2.34 | 不变 | | 淮安市捷兴投资合伙企业(有限合伙) | 280.84 | 2.11 | 不变 | | 浦忠琴 | 221.41 | 1.66 | 不变 | | 马颖 | 190.36 | 1.43 | 不变 | | 林雯雯 | 132.38 | 0.99 | 不变 | | 信澳新能源产业股票 | 131.55 | 0.99 | 不变 | | 殷文雅 | 122.21 | 0.92 | 不变 | | 较上个报告期退出前十大股东有 | | | | | 华夏中证500指数增强A | 194.13 | 1.46 | 退出 | | 陈家琼 | 180.69 | 1.35 | 退出 | | 淮安市迅兴投资合伙企业( ...

Summary of the Conference Call Company and Industry Overview - The company is a leading provider in the PCB (Printed Circuit Board) manufacturing industry, transitioning from a single sample producer to a one-stop service provider for sample to mass production since the end of 2016 [2][3] - The company reported a revenue of 475 million yuan for 2024, representing a year-on-year increase of 2.26% [2] Key Points and Arguments - **Revenue and Profitability**: The company experienced only slight revenue growth while facing significant pressure on profits due to high fixed costs and intense industry competition [3][14] - **Customer Base and Market Position**: The company has established a strong customer base with over 10,000 clients, including leading enterprises across various sectors such as automotive electronics, industrial control, and smart hardware [9][10] - **Production Capacity and Facilities**: The company operates three production bases, with ongoing projects to enhance production capacity, including a new smart factory in Zhuhai expected to begin operations in Q2 2024 [8][12] - **Technological Advancements**: The company has invested heavily in R&D, resulting in numerous patents and technological breakthroughs in high-growth areas such as AI and 5G [6][13] - **Future Strategy**: The company aims to accelerate capacity expansion and market development, focusing on high-end PCB manufacturing and enhancing customer engagement through a new online platform [15][16][17] Additional Important Information - **Financial Performance**: The net profit attributable to shareholders decreased by 213.27% to -7.1 million yuan, influenced by increased sales and tax expenses [14] - **Stock Incentive Plan**: In January 2025, the company launched a stock incentive plan, granting 2.22% of its shares to 129 employees, aimed at aligning employee interests with company growth [19] - **Commitment to Shareholder Returns**: The company has maintained a high dividend payout ratio of 72.68% over the past three years, although it will not distribute dividends for 2024 due to its current financial strategy [21]

Summary of Conference Call Records Company and Industry Overview - The company operates in the PCB (Printed Circuit Board) industry, focusing on rapid prototyping and small to large batch production. The company has a significant client base, including major players in the robotics sector such as 汇川 (Huichuan) and 爱斯顿 (Aston) [1][4][43]. Key Points and Arguments 1. **Production Capacity Planning**: The company has developed a comprehensive capacity plan, transitioning from small batch production to large scale manufacturing, with projected revenues exceeding 20 billion in the future [1]. 2. **Robotics Market Potential**: The domestic robotics market is expected to grow significantly, potentially matching Tesla's scale within three years. The company anticipates substantial growth in PCB production for robotics applications [2]. 3. **Factory Developments**: The company has established a new factory (珠海) aimed at rapid prototyping, with an initial production capacity of 720,000 square meters, potentially generating 1 billion in revenue when fully operational [23][24]. 4. **High-Margin Products**: The company specializes in high-value rapid prototypes, which have a diverse customer base and high profit margins, with an average gross margin of around 40% [21][24]. 5. **Client Relationships**: The company has long-standing relationships with key clients, such as 一博 (Yibo), which contributes significantly to its revenue with a gross margin exceeding 50% due to specialized high-difficulty orders [10][11]. 6. **Future Revenue Projections**: The company expects to achieve revenues of approximately 3.5 million this year from its robotics segment, with potential growth to 30 million in the coming years [12]. 7. **Market Demand Dynamics**: The demand for small batch and rapid prototyping services is driven by clients' R&D needs, with a focus on flexibility and quick turnaround times [31][32]. 8. **Expansion Plans**: The company plans to launch an online marketplace to capture orders from global electronic manufacturers and small enterprises, enhancing its market reach [6][26]. Additional Important Insights - **Technological Capabilities**: The company emphasizes its comprehensive technical capabilities in producing complex PCBs, including high-layer count and HDI (High-Density Interconnect) boards, which are essential for advanced robotics applications [17][19]. - **Competitive Landscape**: The company positions itself as a key supplier for high-difficulty PCB needs, which larger manufacturers may not be able to fulfill due to their focus on mass production [35][37]. - **Long-Term Profitability Goals**: The company aims for a long-term profit target of 4 to 6 billion, leveraging its unique position in the market and expanding production capabilities [42][45]. This summary encapsulates the essential points discussed in the conference call, highlighting the company's strategic direction, market opportunities, and operational insights.

Core Viewpoint - The company Xunjiéxing (688655.SH) is planning to acquire 100% of Shenzhen Jiazhihong Electronics Co., Ltd. to enhance its flexible circuit board production capacity and optimize its product structure, aiming to improve profitability and competitiveness in the PCB industry [2][4]. Group 1: Acquisition Details - Xunjiéxing intends to acquire Jiazhihong through a combination of issuing shares and cash payments to 11 transaction parties, with the asset valuation still pending [2][3]. - The acquisition is expected to constitute a major asset restructuring but will not be classified as a restructuring listing or related party transaction [2]. Group 2: Financial Performance - In 2024, Xunjiéxing reported revenues of 475 million yuan, a year-on-year increase of 2.26%, but faced a net loss of 1.974 million yuan, marking its first loss since going public [5][6]. - The company has experienced a decline in net profit for three consecutive years, with significant drops of 27.41% and 71.04% in 2022 and 2023, respectively [5][6]. Group 3: Strategic Implications - The acquisition is expected to enhance Xunjiéxing's flexible circuit board capacity, optimize product structure, and improve overall competitiveness while diversifying operational risks [4]. - Xunjiéxing and Jiazhihong have complementary market and customer resources, which will facilitate resource sharing and supply chain integration, potentially lowering procurement costs [4][6]. - Jiazhihong's financial performance shows promising growth, with projected revenues of 307 million yuan and 491 million yuan for 2023 and 2024, respectively, and a net profit of 19.87 million yuan in 2024 [6].

Core Viewpoint - The announcement of a major asset restructuring by Xunjiexing (688655.SH) comes at a time when the company is facing its first loss since its listing, raising market concerns about the timing and effectiveness of the acquisition strategy [2][8]. Company Summary - Xunjiexing plans to acquire 100% equity of Shenzhen Jiazhihong Electronics Co., Ltd. through a combination of cash and share issuance, along with raising matching funds [2][3]. - The company has experienced a continuous decline in net profit since 2021, culminating in a loss in 2024, which raises questions about the potential success of the acquisition in improving financial performance [2][8]. - The acquisition target, Jiazhihong, reported revenues of 307 million yuan in 2023 and 491 million yuan in 2024, with net profits of 9.10 million yuan and 19.87 million yuan respectively, indicating strong growth and the potential to surpass Xunjiexing's revenue in 2024 [4]. Industry Context - The PCB industry is highly competitive, with over 40 listed companies in the A-share market, and Xunjiexing's gross margin has been declining from 26.50% in 2021 to 18.33% in 2024 [6][9]. - Despite the ongoing losses, Xunjiexing is expanding its production capacity, with three production bases aimed at providing comprehensive PCB services, although this has not prevented the decline in gross margins [8][9]. - The company's asset-liability ratio has increased from 23.80% in 2021 to 40.40% in 2024, indicating rising financial risk amid aggressive expansion efforts [9].

Core Viewpoint - The company Xunjiéxing (688655.SH) is planning to acquire 100% equity of Shenzhen Jiazhihong Electronics Co., Ltd. through a combination of issuing shares and cash payment, while also raising supporting funds [1][2]. Group 1: Transaction Details - The transaction is expected to constitute a major asset restructuring but will not involve a restructuring listing or related party transactions [2]. - The share issuance price for the asset purchase is set at 15.28 yuan per share, which is not less than 80% of the average trading price over the previous 20 trading days [2]. - The company plans to issue shares to no more than 35 specific investors to raise supporting funds, with the total amount not exceeding 100% of the asset purchase price and the number of shares issued not exceeding 30% of the total share capital prior to the issuance [2][3]. Group 2: Financial Information of Jiazhihong - As of December 31, 2024, Jiazhihong's total assets are 53,124.35 million yuan, with total liabilities of 34,469.57 million yuan and owner's equity of 18,654.78 million yuan [5]. - The company's operating revenue for 2024 is projected to be 49,111.86 million yuan, with a net profit of 1,986.64 million yuan [5]. Group 3: Company Ownership Structure - As of the signing date of the proposal, the controlling shareholder of Xunjiéxing, Ma Zhuo, directly holds 38.66% of the shares and indirectly controls an additional 2.74%, totaling 41.40% [3]. - Wu Wenyiyi, the controlling shareholder of Jiazhihong, directly holds 48.1485% of the equity, and together with Cheng Xiaocheng, they control 64.2728% of Jiazhihong [3].