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 investment rating for the company is "Buy-A" with a target price of 65.2 CNY, representing a 40 times dynamic price-to-earnings ratio for 2024 [7][8]. Core Views - The company reported a revenue of 522 million CNY for the first half of 2024, a year-on-year decrease of 15.65%, and a net profit of 113 million CNY, down 34.73% year-on-year, primarily due to weak capital expenditures in the 3C and lithium battery sectors [4][5]. - Despite the temporary performance pressure, the company is strengthening its competitive advantage in the domestic machine vision field and has completed the full product line layout for core hardware and software [6]. - The company is expanding its overseas market presence, establishing a company in Vietnam and increasing resource investment in its Indian office to support local business development [6]. Financial Summary - Revenue for 2024 is projected to be 974 million CNY, with net profits expected to be 200 million CNY, followed by 1.199 billion CNY in 2025 and 1.367 billion CNY in 2026 [7]. - The company maintained a gross margin of 66.01% in the first half of 2024, a decrease of 1.25 percentage points from the previous year, attributed to intensified industry competition [5]. - Research and development expenses remained high at 110 million CNY, reflecting a year-on-year increase of 5.28%, with the expense ratio rising by 4.18 percentage points compared to the previous year [5].

证券代码：688686 证券简称：奥普特 编号：2024-021 广东奥普特科技股份有限公司投资者关系活动记录表 | --- | --- | --- | |--------------------|---------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活动类别 | □特 ...