证券代码：688685 证券简称：迈信林 公告编号：2025-005 江苏迈信林航空科技股份有限公司 股东减持股份计划公告 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： 股东持股的基本情况 截至本公告披露日，伊犁苏新投资基金合伙企业（有限合伙）（以下简称"伊 犁苏新"）持有江苏迈信林航空科技股份有限公司（以下简称"迈信林"或"公 司"）4,859,934 股，占公司总股本的 3.3418%；其一致行动人南京道丰投资管 理中心（普通合伙）（以下简称"道丰投资"）持有公司 78,400 股，占公司总 股本的 0.0539%，二者合计持有公司 4,938,334 股，占公司总股本的 3.3957%。 其中伊犁苏新持有的股份来源为公司首发前股份数为 3,738,411 股，通过公司 2023 年年度派送红股获得的股份数为 1,121,523 股，道丰投资持有的股份来源 为公司首发前股份数为 60,308 股，通过公司 2023 年年度派送红股获得的股份数 为 18,092 股，上述股东持有的公司首发前 ...

Financial Performance - The company achieved total operating revenue of RMB 476.86 million, a year-on-year increase of 62.38%[4] - Net profit attributable to the parent company reached RMB 45.28 million, reflecting a growth of 197.01% compared to the previous year[4] - The basic earnings per share increased to RMB 0.31, up 210.00% from RMB 0.10 in the same period last year[4] - Operating profit surged to RMB 68.49 million, marking a 319.09% increase year-on-year due to improved operational efficiency[10] - The company’s weighted average return on equity rose to 6.36%, an increase of 4.18 percentage points from the previous year[4] Assets and Equity - Total assets at the end of the reporting period amounted to RMB 2.19 billion, a significant increase of 151.90% from the beginning of the period[5] - The company’s equity attributable to the parent company was RMB 747.87 million, showing an 8.07% increase from the previous period[5] Strategic Initiatives - The company adjusted its marketing strategy and increased investment in new product development, leading to new customer acquisition in precision components[8] - The company expanded into the computing power service industry, establishing a comprehensive service platform that contributed to revenue growth[8] Capital Management - The company implemented an annual equity distribution plan, distributing 3 shares for every 10 shares held, resulting in a capital increase to RMB 145.43 million[10]

Summary of the Conference Call Company and Industry Overview - The discussion primarily revolves around **Photon Arithmetic**, a company involved in advanced optical interconnect technology, and its collaboration with **Miksening** [1][2] - Photon Arithmetic is recognized as a leading player in the **AI chip** and optical interconnect industry, particularly in China [3][12] Key Points and Arguments - **Revenue Growth**: Photon Arithmetic is projected to achieve a revenue of approximately **100 billion RMB** this year, a significant increase from last year's revenue of around **20 billion RMB** [10][11] - **Market Demand**: The company has secured substantial orders from local government data centers and state-owned enterprises, indicating strong market demand for its products [6][10] - **Technological Innovation**: Photon Arithmetic's core product is a server cluster that utilizes **accelerator cards** with AI chips, enhancing interconnectivity and computational power [4][5][8] - **Cost Efficiency**: The return on investment for using Photon Arithmetic's solutions in computing centers is estimated to be around **4 to 5 years**, compared to **7 to 8 years** for traditional solutions [7][10] - **Competitive Advantage**: The company’s technology is noted for its superior performance compared to competitors like **NVIDIA**, particularly in terms of interconnect capabilities [6][8][12] Financial Insights - Photon Arithmetic's business model includes revenue from both hardware sales and leasing of computing power, allowing for multiple revenue streams [21][22] - The company is expected to maintain a profit margin of around **40-50%** on its hardware sales [21] - Future projections suggest that Photon Arithmetic and Miksening could collectively generate around **100 billion RMB** in revenue and **10 billion RMB** in net profit by 2025 [23][41] Additional Important Points - **Market Positioning**: Photon Arithmetic is positioned as a **key player** in the optical interconnect market, with a focus on innovative solutions that address the limitations of existing technologies [25][34] - **IPO Considerations**: There are discussions about the potential for Photon Arithmetic to be acquired by a listed company rather than pursuing an IPO, indicating strategic considerations for future growth [19][22] - **Leadership and Vision**: The leadership of Photon Arithmetic, particularly its chairman **Bai Bin**, is highlighted as a driving force behind the company's innovative approach and market strategy [18][42] Conclusion - Photon Arithmetic is poised for significant growth in the optical interconnect and AI chip market, driven by strong demand, innovative technology, and strategic partnerships. The company's financial outlook appears robust, with expectations for continued revenue and profit growth in the coming years [12][41]

证券代码：688685 证券简称：迈信林 公告编号：2025-003 关于变更签字会计师的公告 （一）基本信息 黄传飞先生 2017 年成为注册会计师，2014 年开始从事上市公司审计，2017 年开始在本所执业，2022 年开始为公司提供审计服务，近三年签署上市公司审 计报告 4 家。 江苏迈信林航空科技股份有限公司 本公司董事会、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。 江苏迈信林航空科技股份有限公司（以下简称"公司"）于 2024 年 8 月 28 日召开第三届董事会第九次会议、第三届监事会第七次会议，并于 2024 年 9 月 20 日召开 2024 年第一次临时股东大会，审议通过了《关于公司续聘 2024 年度 会计师事务所的议案》，同意续聘立信会计师事务所（特殊普通合伙）（以下简 称"立信"）为公司 2024 年度财务报告和内部控制审计机构。具体内容详见公 司 2024 年 8 月 29 日在上海证券交易所网站（www.sse.com.cn）披露的《江苏迈 信林航空科技股份有限公司续聘会计师事务所的公告》（公告编号：2 ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook for its stock performance in the next 12 months [3][10]. Core Insights - The company is expected to achieve an annual revenue of 485-518 million yuan in 2024, representing a year-on-year growth of 65.15%-76.39%. The net profit attributable to the parent company is projected to be 40-60 million yuan, with a significant year-on-year increase of 163.55%-295.40% [3][10]. - The growth in revenue is primarily driven by the introduction of new clients in precision components and the sustained business volume from existing clients. Additionally, the new computing power services and sales have contributed to increased revenue [3][10]. - The company has been focusing on the aerospace components sector for over a decade, developing both military and civilian products. It has established a dual development strategy, with military products as the main focus and civilian products as a supplementary line [5][6]. - The company is accelerating its expansion into computing power services, which is expected to become a second growth curve. Strategic investors have been introduced to support this initiative [6][10]. Summary by Sections Financial Performance - The company forecasts revenues of 487 million yuan in 2024, 2.56 billion yuan in 2025, and 3.47 billion yuan in 2026, with corresponding EPS of 0.41, 1.34, and 2.04 yuan respectively. The current stock price corresponds to P/E ratios of 90.0, 27.5, and 18.0 for the respective years [10][12]. Business Strategy - The company has been dedicated to the aerospace components sector since its establishment in 2010, focusing on the research and manufacturing of aerospace parts. It has developed capabilities in processing various aircraft components, including fuselage, wings, and engines [5][6]. - The introduction of strategic investors aims to enhance the company's computing power business, which is expected to grow rapidly in the coming years [6][10]. Market Outlook - The contracts signed with strategic partners for computing power resources are expected to positively impact the company's performance in 2024-2025, enhancing its profitability and core competitiveness [9][10].

Revenue Projections - The company expects 2024 annual revenue to be between 485 million and 518 million CNY, an increase of 191.33 million to 224.33 million CNY compared to the previous year, representing a year-on-year growth of 65.15% to 76.39%[2]. - The increase in revenue is primarily due to the introduction of new clients in the precision components business and the continuous growth of existing clients' business volume, along with additional revenue from new computing power services[5]. - The previous year's lower comparative base has also contributed to the significant growth in performance[9]. Profit Projections - The projected net profit attributable to the parent company for 2024 is expected to be between 40.18 million and 60.28 million CNY, an increase of 24.93 million to 45.03 million CNY compared to the previous year, indicating a year-on-year growth of 163.55% to 295.40%[2]. - The expected net profit attributable to the parent company after deducting non-recurring gains and losses is projected to be between 24.80 million and 37.20 million CNY, an increase of 14.35 million to 26.75 million CNY compared to the previous year, reflecting a year-on-year growth of 137.26% to 255.89%[2]. Financial Reporting and Caution - The performance forecast is based on preliminary calculations by the company's finance department and has not yet been audited by registered accountants[10]. - Investors are advised to exercise caution as the forecast data is preliminary and the final audited financial data will be disclosed in the 2024 annual report[11]. Government Support and Consolidation - The company has received government subsidies related to specific projects during the reporting period[7]. - The consolidation of Suzhou Ruiying Zhican Technology Co., Ltd. and Suzhou Ruixin Intelligent Technology Co., Ltd. has expanded the scope of the consolidated financial statements[8].

江苏迈信林航空科技股份有限公司 投资者关系活动记录表 证券简称：迈信林 证券代码：688685 编号：2024004 | --- | --- | --- | --- | |-----------------------|-------------------------|-----------------------------------------------------------------------|------------------------------------------------------------------| | 投资者关系 \n活动类别 | □ \n■ | 特定对象调研 □分析师会议 □媒体采访 \n业绩说明会 □新闻发布会 □路演活动 | | | 参与单位名称 | 网络投资者 | | | | 时间 | 2024 年 12 月 4 | 日 10:00-11:00 | | | 地点 | | 上海证券交易所上证路演中心（网址： | http:// | | 上市公司 | 董事长兼总经理：张友志 | | | | 接待人员姓名 | 董事会秘书：薛晖 | | | | 投资者关系 | ...

证券代码：688685 证券简称：迈信林 公告编号：2024-061 江苏迈信林航空科技股份有限公司 股东减持股份计划时间届满暨减持结果公告 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。 | | 股东名称 | 持股数量（股） | 持股比例 | 一致行动关系形成原因 | | --- | --- | --- | --- | --- | | 第一 | 伊犁苏新投资基金合 | 6,291,090 | 4.3260% | 道丰投资系为满足伊犁苏新对外投 | | 组 | 伙企业（有限合伙） | | | 资时内部跟投制度要求，由伊犁苏 | | | 南京道丰投资管理中 | 101,400 | 0.0697% | 新经营管理人员出资设立的跟投平 | | | 心（普通合伙） | | | 台。 | | | 合计 | 6,392,490 | 4.3957% | — | 重要内容提示： 股东持股的基本情况 减持计划实施前，伊犁苏新投资基金合伙企业（有限合伙）（以下简称"伊 犁苏新"）持有江苏迈信林航空科技股份有限公司（以下简称"迈信林 ...

Key Points Industry/Company Involved - **Company**: Beijing United Photon Arithmetic Technology Co., Ltd. and Suzhou Si Di Chi Group - **Industry**: AI Artificial Intelligence, High-Tech Commercial Center,国产算力 (domestic computing power) Core Views and Arguments - **Strategic Shareholders**: The company has introduced two strategic shareholders, Bai Bin and Xu Yunhui, to drive the continuous and stable development of new business areas. [1] - **Market Expansion**: The company aims to establish a solid foundation for the development of domestic computing power and occupy a position in the comprehensive solution. [2] - **Contract Achievements**: The company has signed contracts worth approximately 3.6 billion yuan for computing power services and another 3.6 billion yuan for new contracts. [3] - **New Business Goals**: The company plans to expand its business in the field of domestic computing power, aiming to become a leader in the industry. [4] - **Traditional Business Integration**: The company aims to integrate its traditional military business with AI and domestic computing power, contributing to the development of military equipment. [5] - **Import Substitution**: The company aims to replace imported products with domestic computing power solutions due to export restrictions on high-tech products. [7] Other Important Content - **Domestic Computing Power Demand**: The company expects the demand for domestic computing power to reach a trillion yuan by 2025. [8]

证券代码：688685 证券简称：迈信林 公告编号：2024-060 江苏迈信林航空科技股份有限公司 关于召开 2024 年第三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： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 11 月 27 日(星期三) 至 12 月 03 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 maixinlin@maixinlin.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。 江苏迈信林航空科技股份有限公司（以下简称"公司"）已于 2024 年 10 月 29 日发布公司 2024 年第三季度报告，为便于广大投资者更全面深入地了解公司 2024 年第三季度的经营成果和财务状况，公司计划于 2024 年 12 月 04 日上午 10:00-11:00 举行 2024 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、 ...