广东奥普特科技股份有限公司（以下简称"公司"）于 2024 年 9 月 23 日分 别召开第三届董事会第十七次会议、第三届监事会第十四次会议，审议通过了《关 于终止实施 2021 年限制性股票激励计划的议案》。现将相关事项公告如下： 证券代码：688686 证券简称：奥普特 公告编号：2024-042 广东奥普特科技股份有限公司 关于终止实施 2021 年限制性股票激励计划的公告 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、2021 年限制性股票激励计划已履行的相关审批程序 （一）2021 年 11 月 22 日，公司召开第二届董事会第十五次会议，会议审 议通过了《关于公司<2021 年限制性股票激励计划（草案）>及其摘要的议案》 （二）2021 年 11 月 22 日至 2021 年 12 月 1 日，公司对本激励计划激励对 象名单在公司内部进行了公示。在公示期内，公司监事会未收到与本激励计划激 励对象有关的任何异议。2021 年 12 月 3 日，公司披露了《监事会关于 2021 年 限制性股票激励计划首次授予 ...

Investment Rating - The report gives the company an "Outperform" rating for the first coverage, with a target price of RMB 64.98 based on a 2024 PE of 42x [4][14]. Core Insights - Short-term performance is under pressure, with H1 2024 revenue at approximately RMB 522 million, down 15.65% YoY, and net profit attributable to shareholders at RMB 113 million, down 34.73% YoY [11][12]. - The company is maintaining its investment levels despite declining revenue, focusing on future market and technology layouts, as evidenced by increased sales and R&D expense ratios [11][12]. - The company has completed a full product line layout in hardware and software, including new products like intelligent code readers and a cloud-based deep learning visual platform [12][13]. - There is a continued expansion in overseas markets, with increased investments in regions like Vietnam and India, and the establishment of R&D centers in Europe and Japan [12][13]. Financial Summary - Revenue for 2024 is projected to be RMB 994 million, with expected growth rates of 5.35%, 21.44%, and 26.86% for 2024, 2025, and 2026 respectively [4][14]. - The company’s EPS is forecasted to be RMB 1.55, RMB 1.91, and RMB 2.43 for 2024, 2025, and 2026 respectively [4][14]. - The gross margin is expected to remain stable around 64% over the forecast period [9][14]. Market Opportunities - There are significant domestic substitution opportunities in the machine vision sector, particularly in software where localization is still developing [13]. - The company is well-positioned to benefit from the domestic substitution process due to its self-developed technology and industry leadership [13].

Investment Rating - The report gives the company an "Outperform" rating for the first coverage, with a target price of RMB 64.98 based on a 2024 PE of 42x [4][14]. Core Viewpoints - Short-term performance is under pressure, with a revenue decline of 15.65% YoY to approximately RMB 522 million in H1 2024, and a net profit decrease of 34.73% YoY to about RMB 113 million [11][4]. - Despite the revenue decline, the company is increasing its investment in sales and R&D, indicating a focus on future market and technology development [11][4]. - The company has completed a full product line layout in hardware and software, including new products like intelligent code readers and a cloud-based deep learning visual platform [12][11]. - The company is expanding its overseas presence, establishing offices in Vietnam and India, and has nearly 200 technical support personnel overseas [12][11]. Financial Summary - Revenue for 2024 is projected to be RMB 994 million, with expected growth rates of 5.35%, 21.44%, and 26.86% for 2024, 2025, and 2026 respectively [4][14]. - The net profit for 2024 is expected to be RMB 189 million, with EPS projected at RMB 1.55 [4][14]. - The company’s gross margin is expected to remain stable around 64% over the next few years [9][4]. Market Opportunities - There are significant domestic substitution opportunities in the machine vision sector, particularly in software where localization is still developing [13][2]. - The company is well-positioned to benefit from the ongoing domestic substitution process due to its self-developed technology and industry leadership [13][2].

./0123456789:;< 2024 =>?@AB71CDE F)GHI 国枫律股字[2024]C0119 号 !"#$%&'()* 18 +,-'(./ 19 0 1230755-23993388 4530755-86186205 673518048 !"#$%&'()*+,- !"#$%&'()*+,-./01./2 北京国枫（深圳）律师事务所（以下简称"本所"）接受贵公司的委托，指派律师 出席并见证贵公司 2024 年第二次临时股东大会（以下简称"本次会议"）。 本所律师根据《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》）、《上市公司股东大会规则》《律师事务所从事 证券法律业务管理办法》（以下简称《证券法律业务管理办法》）、《律师事务所证券 法律业务执业规则（试行）》（以下简称《证券法律业务执业规则》）等相关法律、行 政法规、规章、规范性文件及《广东奥普特科技股份有限公司章程》（以下简称《公司 章程》）的规定，就本次会议的召集与召开程序、召集人资格、出席会议人员资格、会 议表决程序及表决结果等事宜，出具本法律意见书。 对本法律意见书的出具，本所律师特作 ...

证券代码：688686 证券简称：奥普特 公告编号：2024-039 广东奥普特科技股份有限公司 2024 年第二次临时股东大会决议公告 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 | 63 | | --- | --- | | 普通股股东人数 | 63 | | 2、出席会议的股东所持有的表决权数量 | 93,527,473 | | 普通股股东所持有表决权数量 | 93,527,473 | | 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 | 76.5141 | | 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（%） | 76.5141 | （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。 本次会议由公司董事会召集，董事长卢盛林先生主持，会议采取现场投票和 （一） ...

证券代码：688686 证券简称：奥普特 广东奥普特科技股份有限公司投资者关系活动记录表 | --- | --- | --- | --- | |-----------------------------|----------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

证券代码：688686 证券简称：奥普特 广东奥普特科技股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------------------|------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

[Table_MainInfo] 公司研究/信息设备/电子设备与仪器 证券研究报告 奥普特（688686）公司半年报点评 2024 年 09 月 11 日 [Table_InvestInfo] 投资评级 优于大市 维持 | --- | --- | |-----------------------------------------------------|--------------| | 股票数据 | | | 09 [ Table_StockInfo 月 10 日收盘价（元） ] | 46.72 | | 52 周股价波动（元） | 45.63-117.59 | | 总股本 / 流通 A 股（百万股） | 122/122 | | 总市值 / 流通市值（百万元） | 5711/5711 | | 相关研究 | | | [Table_ReportInfo] 《机器视觉核心部件的头部厂商》 | 2024.08.20 | 市场表现 [Table_QuoteInfo] -59.03% -47.03% -35.03% -23.03% -11.03% 0.97% 奥普特 海通综指 | --- | --- | --- | -- ...

Investment Rating - The report maintains a "Buy" rating for the company [4][6]. Core Views - The company experienced a revenue decline of 15.65% year-on-year in H1 2024, with total revenue reaching 522 million yuan. The net profit attributable to the parent company was 113 million yuan, down 34.73% year-on-year [3][4]. - The performance in Q2 2024 showed a revenue of 296 million yuan, a decrease of 19.82% year-on-year, and a net profit of 56 million yuan, down 48.12% year-on-year [3][4]. - The decline in revenue is attributed to weak downstream demand and reduced capital expenditure from downstream customers, particularly in the 3C and lithium battery sectors [3][4]. - The company has expanded its workforce, leading to a significant increase in sales and R&D expense ratios. The gross margin for H1 2024 was 66.01%, slightly down from the previous year [3][4]. - The product matrix is becoming more established, with an increasing self-sufficiency rate in core machine vision products. The company has completed its full product line layout in machine vision [3][4]. - The company is enhancing its deep learning capabilities and expanding its overseas presence, including setting up a company in Vietnam and increasing resources in India [4]. Financial Summary - For H1 2024, the company reported a gross margin of 66.01% and a net profit margin that decreased by 10.35 percentage points year-on-year [3][4]. - The forecast for net profit attributable to the parent company for 2024-2026 is 210 million, 280 million, and 370 million yuan, respectively, with corresponding price-to-earnings ratios of 27, 21, and 16 [4][6]. - The current stock price is 47.19 yuan, with a total share capital of 12,224 million shares [6].

证券研究报告 安防 [Table_Finance1] 公司快报 2024 年 09 月 06 日 奥普特(688686.SH) 下游资本开支较弱，24H1 业绩承压 事件概述 近日，奥普特发布2024年半年报，2024上半年公司实现营业收入5.22 亿元，同比下降15.65%；实现归母净利润1.13亿元，同比下降34.73%， 扣非归母净利润 0.97 亿元，同比下降 38.72%。 下游资本开支较弱，24H1 业绩承压 公司上半年实现收入 5.22 亿元，同比下降 15.65%。我们认为，公司 上半年业绩承压的主要原因是 3C、锂电两大下游的资本开支仍然较 弱。具体来看，公司在 3C 领域收入为 3.54 亿元（yoy-8.54%），主要 系行业复苏放缓；锂电领域收入为 1.12 亿元（yoy-37.37%），主要系 锂电行业受产能利用率影响，资本开支持续低迷，下游需求疲软。利 润端，公司 24H1 毛利率为 66.01%，较去年同期下降 1.25pcts，我们 认为主要是行业竞争加剧。此外，24H1 公司研发保持高投入，为 1.10 亿元（yoy+5.28%）,费用率较去年同期提升 4.18pcts。 产 ...