证券代码:688668 证券简称:鼎通科技 公告编号：2025-028 东莞市鼎通精密科技股份有限公司 关于 2024 年限制性股票激励计划部分限制性股票 作废失效的公告 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。 东莞市鼎通精密科技股份有限公司（以下简称"鼎通科技"或"公司"）于 2025 年 5 月 28 日召开了第三届董事会第十二次会议、第三届监事会第十次会议， 审议通过了《关于 2024 年限制性股票激励计划部分限制性股票作废失效的议案》， 根据《上市公司股权激励管理办法》（以下简称"《管理办法》"）《东莞市鼎 通精密科技股份有限公司 2024 年限制性股票激励计划（草案）》（以下简称"《激 励计划（草案）》"）等相关规定和公司 2024 年第一次临时股东大会的授权， 董事会同意作废失效公司 2024 年限制性股票激励计划（以下简称"本次激励计 划"）部分限制性股票合计 163,800 股。现将有关事项说明如下： 一、本次限制性股票授予已履行的决策程序和信息披露情况 1. 2024 年 3 月 15 日，公司召 ...

证券代码:688668 证券简称:鼎通科技 公告编号：2025-027 东莞市鼎通精密科技股份有限公司 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： 一、本次股权激励计划批准及实施情况 | 本激励计划首次授予的第二类限制性股票各批次归属比例安排如下表所示： | | --- | | 归属安排 | 归属期限 | 归属权益比例 | | --- | --- | --- | | 第一个归属期 | 自授予之日起12个月后的首个交易日至授 | 40% | | | 予之日起 个月内的最后一个交易日止 24 | | | 第二个归属期 | 自授予之日起24个月后的首个交易日至授 | 30% | | | 予之日起 个月内的最后一个交易日止 36 | | 关于 2024 年限制性股票激励计划第二类限制性股票 首次授予部分第一个归属期符合归属条件的公告 本次拟归属的限制性股票数量为 47.2080 万股 归属股票来源：东莞市鼎通精密科技股份有限公司（以下简称"公司"或"鼎 通科技"）向激励对象定向发行公司 A 股普通股股票。 （一 ...

湖南启元律师事务所 关于 东莞市鼎通精密科技股份有限公司 2024年限制性股票激励计划授予价格调整、 首次授予部分第一个归属期归属条件成就 及部分限制性股票作废相关事项的 法律意见书 二〇二五年五月 湖南省长沙市芙蓉区建湘路 393 号世茂环球金融中心 63 层 410005 电话：（0731）82953778 传真：（0731）82953779 网站：www.qiyuan.com 致：东莞市鼎通精密科技股份有限公司 湖南启元律师事务所（以下简称"本所"）接受东莞市鼎通精密科技股份有 限公司（以下简称"公司"或"鼎通科技"）的委托，作为公司 2024 年限制性 股票激励计划项目（以下简称"本次激励计划"）的专项法律顾问，为公司本次 激励计划提供专项法律服务。 本所根据《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》"）及中国证券监督管理委员会（以 下简称"中国证监会"）发布的《上市公司股权激励管理办法》（以下简称"《管 理办法》"）、上海证券交易所发布的《上海证券交易所科创板股票上市规则》 （以下简称"《上市规则》"）、《科创板上市公司自律监管指南第4号—— ...

东莞市鼎通精密科技股份有限公司 东莞市鼎通精密科技股份有限公司 第三届监事会第十次会议决议 东莞市鼎通精密科技股份有限公司（以下简称"公司"）第三届监事会第十 次会议于 2025 年 5 月 28 日在东莞市东城街道周屋社区银珠路七号鼎通科技会议 室以现场结合通讯的方式召开。会议通知已于 2025 年 5 月 25 日通过书面或邮件 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。 会议由监事会主席徐浩主持。会议召开符合有关法律、法规、规章和《公 司章程》的规定。出席会议的监事对各项议案进行了认真审议并做出了如下决议： （一）审议通过《关于调整 2024 年限制性股票激励计划授予价格的议案》 监事会认为：公司本次对 2024 年限制性股票激励计划授予价格（含预留授 予价格）进行调整符合《上市公司股权激励管理办法》《东莞市鼎通精密科技股 份有限公司 2024 年限制性股票激励计划（草案）》及其摘要的相关规定，不存 在损害公司及股东利益的情形。综上，同意公司将 2024 年限制性股票激励计划 首次及预留授予价格由 16.79 元/股调整为 16.29 元/股。 （二）审议通过《关于 2024 ...

Investment Rating - The report maintains a "Buy" rating for several companies in the AI and computing sector, including Yidao Information, iFlytek, Weike Technology, and others, indicating a positive outlook for their stock performance [13][48]. Core Insights - The AI sector is experiencing significant advancements, particularly with the launch of Claude 4 models, which enhance coding and reasoning capabilities, marking a new era in AI applications [3][20]. - The introduction of the Skywork Super Agents by Kunlun Wanwei signifies a breakthrough in AI office applications, showcasing unique features that differentiate it from competitors [5][27]. Summary by Sections 1. Computing Power Dynamics - The rental prices for computing power remain stable, with specific rates for various configurations such as A100-40G and A100-80G [19][21]. - The Claude 4 model was launched on May 23, featuring two variants: Claude Opus 4 and Claude Sonnet 4, both of which demonstrate significant improvements in performance and accuracy [20][22]. 2. AI Application Dynamics - Gemini's average access volume increased by 4.51% week-on-week, indicating growing user engagement in AI applications [26]. - The Skywork Super Agents were released, offering comprehensive capabilities for content creation and task management, thus enhancing productivity in AI office environments [27][30]. 3. AI Financing Trends - Airwallex secured $300 million in Series F funding, raising its valuation to $6.2 billion, reflecting strong market confidence in its global expansion strategy [35][36]. - The funding round included participation from notable investors, indicating a robust interest in the company's growth potential [35][37]. 4. Market Review - The AI computing index and application index showed fluctuations, with notable gains in specific companies like Kunlun Wanwei, highlighting the dynamic nature of the AI market [40][41]. 5. Investment Recommendations - The report suggests focusing on companies with successful AI product implementations, such as Jiahe Meikang and iFlytek, as well as those with promising technological advancements like Cambrian [11][47].

Core Viewpoint - The company is experiencing significant growth driven by the demand for high-speed communication connectors, particularly in the context of AI development, with a strong focus on new product advancements such as liquid cooling solutions and 224G connectors [1][3]. Group 1: Financial Performance - In 2024, the company reported a revenue of 1.032 billion yuan, representing a year-on-year increase of 51.12%, and a net profit of 110 million yuan, up 65.74% [1]. - For Q1 2025, the company achieved a revenue of 379 million yuan, marking a year-on-year growth of 95.25% and a quarter-on-quarter increase of 15.24%, with a net profit of approximately 52.9 million yuan, up 190.12% year-on-year and 65.32% quarter-on-quarter [1][2]. Group 2: Product Development and Market Demand - The company is focusing on liquid cooling solutions and 224G connectors, which have received customer certification and are in small-batch trial production, with mass production expected in Q2 and Q3 of this year [1]. - The main growth driver for the company is the demand for high-speed communication products, particularly in AI applications across various sectors such as internet, rail transportation, healthcare, autonomous driving, data storage, and data transmission [3]. - The company’s high-speed communication product series includes Cage, backplane connectors, and copper cable connectors, with speed upgrades from 112G to 224G [3]. Group 3: Customer Base and Partnerships - The company supplies liquid cooling products primarily to renowned connector companies such as Amphenol, Molex, TE Connectivity, and Luxshare [1]. - In the automotive sector, BYD is a major customer, with the company providing various types of automotive connectors, including control system connectors and high-voltage interlock connectors [3][4]. Group 4: Production Capacity and Order Status - The company maintains a busy production line with saturated orders and strong product demand, indicating a robust operational capacity [2]. - The production of automotive connectors emphasizes high precision and stability, with a focus on quality control and effective collaboration across design and manufacturing processes [4].

Investment Rating - The report assigns a "Buy-B" rating to the company, indicating an expected price increase of over 15% compared to the benchmark index within 6-12 months [10]. Core Insights - The company reported a revenue of 1.032 billion yuan for 2024, a year-on-year increase of 51.12%, and a net profit of 110 million yuan, up 65.74% year-on-year [4][10]. - The growth in revenue and profit is attributed to increased demand for high-speed connectors and components, particularly in the AI server market and the automotive sector [5][7]. - The company is positioned to benefit from the rising demand for 112G and 224G products, with significant orders expected from major clients [6][10]. Financial Performance Summary - In 2024, the company achieved a revenue of 1.032 billion yuan, with a net profit of 110 million yuan, and a gross margin of 27.4% [12]. - For Q1 2025, the company reported a revenue of 379 million yuan, a year-on-year increase of 95.25%, and a net profit of 53 million yuan, up 190.12% year-on-year [4]. - The projected net profits for 2025, 2026, and 2027 are 234 million yuan, 297 million yuan, and 337 million yuan, respectively, reflecting growth rates of 111.6%, 27.4%, and 13.4% [10][12]. Market Position and Product Development - The company is a key supplier of high-speed connectors and components, with a focus on the AI server market and automotive applications [6][7]. - The automotive connector business is expected to grow by 25.21% year-on-year in 2024, driven by the increasing sales and penetration of new energy vehicles [7]. - The company has expanded its R&D efforts, with a research expense ratio of 8.87% in 2024, and has increased its R&D personnel from 285 to 403 [9]. Production Capacity and Strategy - The company has four major production bases, with significant capacity increases expected from its Dongguan and Henan facilities [9]. - The company is actively developing new products, including high-voltage connectors for electric vehicles and advanced communication connectors for AI applications [9][10].

Investment Rating - The report assigns a "Buy-B" rating to the company for the first time [1][10]. Core Views - The company reported a revenue of 1.032 billion yuan in 2024, a year-on-year increase of 51.12%, and a net profit of 110 million yuan, up 65.74% year-on-year [4][10]. - The growth in revenue and profit is attributed to the increasing demand for high-speed connectors and components in the AI server market, particularly with the introduction of 112G and 224G products [6][10]. - The automotive connector business is also expected to benefit from the rising sales and penetration rates of domestic new energy vehicles, with a projected revenue growth of 25.21% in 2024 [7][10]. Financial Performance - In Q4 2024, the company achieved a revenue of 329 million yuan, a year-on-year increase of 71.29%, and a net profit of 32 million yuan, up 136.34% year-on-year [4]. - For Q1 2025, the company reported a revenue of 379 million yuan, a year-on-year increase of 95.25%, and a net profit of 53 million yuan, up 190.12% year-on-year [4]. - The company expects net profits to grow to 234 million yuan in 2025, representing a year-on-year increase of 111.6% [10]. Market Position and Product Development - The company is a key supplier of high-speed connectors and components, benefiting from partnerships with major clients like Amphenol, Molex, and TE Connectivity [6]. - The company is focusing on the development of AI high-speed products and has successfully developed high-voltage connectors for BYD's DM5.0 technology [9]. - The company has four production bases, with significant capacity increases expected from its Dongguan and Henan facilities [9]. Future Outlook - The report forecasts optimistic growth for the company, driven by increased shipments of communication connectors and the ramp-up of 112G and 224G products [10]. - The company is expected to achieve a revenue of 1.652 billion yuan in 2025, with a year-on-year growth of 60.1% [12]. - The gross margin is projected to improve to 31.3% in 2025, reflecting the positive impact of new product introductions [12].

Investment Rating - The report maintains a "Buy" rating for several companies in the computer and AI sectors, including Yidao Information, iFlytek, Weike Technology, and others [15][53]. Core Insights - The "Star Computing" plan, led by Guoxing Aerospace, successfully launched 12 space computing satellites, marking the beginning of a new era in space computing [5][6][23]. - OpenAI's release of the cloud-based AI programming agent Codex is set to revolutionize software development, enabling developers to complete tasks that previously took hours in just 30 minutes [8][29][31]. - Perplexity AI is nearing completion of a $500 million funding round, raising its valuation to $14 billion, reflecting strong growth in the AI search engine market [10][37]. Summary by Sections Computing Power Dynamics - The rental prices for computing power remain stable, with specific configurations priced as follows: Tencent Cloud A100-40G at 28.64 CNY/hour and Alibaba Cloud A100-80G at 34.74 CNY/hour [22][24]. - The "Star Computing" plan aims to establish a space-based intelligent computing infrastructure, with the first batch of satellites equipped for space computing and interconnectivity [6][25]. AI Application Dynamics - Kimi's average traffic increased by 9.94%, indicating growing interest in AI applications [28]. - OpenAI's Codex, powered by the codex-1 model, is designed to assist developers in various coding tasks, significantly enhancing productivity [29][31]. AI Financing Trends - Perplexity AI's upcoming funding round will increase its valuation from $9 billion to $14 billion, highlighting the rapid growth in AI startups [10][37]. - The company has over 15 million monthly active users and is generating nearly $100 million in annual recurring revenue [10][38]. Investment Recommendations - Tencent reported a 13% year-on-year revenue growth in Q1 2025, with significant contributions from AI initiatives [51]. - Companies to watch include Jiahe Meikang, iFlytek, and others that are positioned to benefit from advancements in AI and computing power [52].

Summary of Key Points Core Viewpoint - DingTong Technology (688668) is experiencing a mixed trading environment with significant cash flow dynamics and a planned dividend distribution for shareholders [2][4]. Trading Information - On May 16, 2025, DingTong Technology's stock closed at 48.2 yuan, down 0.74%, with a turnover rate of 2.11% and a trading volume of 29,300 shares, resulting in a transaction value of 142 million yuan [1]. - The net outflow of main funds was 30.46 million yuan, while retail investors saw a net inflow of 36.09 million yuan on the same day [2][4]. - A block trade occurred at a premium of 20.75%, with a total transaction amount of 11.24 million yuan [2][4]. Company Announcements - DingTong Technology announced a cash dividend of 0.50 yuan per share, totaling 69,364,823 yuan, to be distributed on May 23, 2025 [2][4]. - The announcement was approved during the annual shareholders' meeting held on May 8, 2025, based on a total share capital of 138,729,646 shares [2]. Tax Implications for Shareholders - Different types of shareholders will face varying tax burdens on the cash dividends: - Natural person shareholders and securities investment funds holding unrestricted shares may have tax rates of 0%, 10%, or 20% based on holding periods, resulting in after-tax dividends of 0.50 yuan, 0.45 yuan, or 0.40 yuan per share respectively [3]. - For restricted shares, the tax burden is 10%, leading to an after-tax dividend of 0.45 yuan per share for individual shareholders and QFII [3]. - Hong Kong market investors will also receive an after-tax dividend of 0.45 yuan per share due to a 10% withholding tax [3].