Financial Performance - The total operating revenue for 2024 was RMB 75,013.99 million, a decrease of 17.50% compared to the previous year[4] - The net profit attributable to the parent company was RMB 6,710.85 million, down 55.68% year-on-year[4] - The net profit attributable to the parent company after deducting non-recurring gains and losses was RMB 5,593.75 million, a decline of 58.67% compared to the previous year[4] - The basic earnings per share decreased to RMB 0.23, down 55.77% from RMB 0.52 in the previous year[4] - The weighted average return on net assets decreased by 7.72 percentage points to 3.89%[4] - The net asset per share attributable to the parent company decreased to RMB 5.80, down 23.28% year-on-year[4] Assets and Equity - The total assets at the end of 2024 were RMB 271,770.76 million, an increase of 9.50% year-on-year[7] - The equity attributable to the parent company was RMB 173,142.54 million, a slight decrease of 0.28% year-on-year[7] Market Conditions - The decline in operating revenue and profit was primarily due to lower-than-expected demand for equipment in the new energy sector and rising raw material prices[7] Capital Changes - The company increased its share capital through a capital reserve transfer, resulting in a 29.95% increase in the number of shares outstanding[8]

Financial Performance Forecast - The company expects a net profit attributable to shareholders of the parent company for 2024 to be between 65 million and 80 million yuan, a decrease of 57% to 47% compared to the previous year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be between 53.8 million and 68.8 million yuan, a decrease of 60% to 50% year-on-year[4]. - The performance forecast is based on preliminary calculations by the company's finance department and has not yet been audited by certified public accountants[10]. - The company has not identified any significant uncertainties that would affect the accuracy of this performance forecast[10]. - Investors are advised to pay attention to investment risks as the forecast data is preliminary and subject to change in the official annual report[11]. Historical Financial Data - In 2023, the net profit attributable to shareholders was 151.43 million yuan, and the net profit after deducting non-recurring gains and losses was 135.33 million yuan[6]. Factors Affecting Performance - The decline in performance is primarily due to lower-than-expected demand for equipment in the new energy sector, leading to a year-on-year decrease in revenue from this segment[8]. - Rising costs of raw materials, such as copper and stainless steel, along with increased depreciation and amortization expenses due to capacity expansion, have also impacted profitability[9].

昆山东威科技股份有限公司 | --- | --- | |-------|------------------------------------------------------| | | | | | 客户高度认可，今年新增多条订单，打破了国际单一进 | | | 口设备商垄断、实现了国产替代。对我国人工智能产业 | | | 链安全发展，打破国外进口设备垄断具有深远意义。 | | | 2. 请问贵司今年 PCB 设备订单大幅增长的原因是什 | | | 么？ | | | 答：公司 2024 年订单复苏的主要原因有以下几点： | | | 一、终端客户需求的变化，如算力、新能源汽车等增加 | | | 了高阶 HDI 、多层板等高端产品的需求；二、下游客户 | | | 陆续在东南亚新建生产基地，设备需求量相应增加； | | | 三、 3C 电子领域的去库存已有一定的成效。 | | | 3. 请问公司 PCB 设备一般多长时间确认收入？ | | | 答：因公司产品属大型制造设备，既有生产制造周期， | | | 又有安装调试周期，所以收入确认周期较长，一般来说 | | | 从接到客户订单到最终确认收入体现在财务报表上大约 ...

昆山东威科技股份有限公司 | --- | --- | --- | |----------------------|--------------------------------------------------------------------|--------------------------------------------------| | | | | | 投资者关系活动类别 | £ | 特定对象调研 □分析师会议 | | | £ 媒体采访 R | 业绩说明会 | | | □新闻发布会 £路演活动 | | | | £ 现场调研 £电话会议 | | | | £ 其他 | | | 参与单位及人员名称 | 网上投资者 | | | 调研时间 | 2024 年 12 月 5 | 日 | | 会议地点 | 上证路演中心 | | | 上市公司接待人员姓名 | 董事长、总经理：刘建波 副总经理、财务总监：周湘荣 独立董事：陆华明 | | | | 董事会秘书：徐佩佩 | | | 投资者关系活动内容记 | 主要问题： 1 | 、目前公司玻璃基板镀铜设备的市场地位如何，对未 | | 录 | | 来三年玻璃基板镀铜设 ...

证券代码：688700 证券简称：东威科技 公告编号：2024-036 昆山东威科技股份有限公司 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、准确性和完整性承担法律责任。 重要内容提示： https://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 28 日(星期四) 至 12 月 04 日(星期 三)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 DW10798@ksdwgroup.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。 昆山东威科技股份有限公司（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 年第三季度经营成果、财务状况，公司计划 于 2024 年 12 月 05 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、 说明会类 ...

证券代码：688700 证券简称：东威科技 公告编号：2024-035 昆山东威科技股份有限公司 关于员工持股平台大宗交易减持股份计划公告 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： 员工持股平台的基本情况 截至本公告披露日，昆山东威科技股份有限公司（以下简称"公司"）员工 持股平台昆山方方圆圆企业管理中心（有限合伙）（以下简称"方方圆圆"）持有 公司 12,452,686 股，占公司总股本的 4.17%；昆山家悦家悦企业管理中心（有 限合伙）（以下简称"家悦家悦"）持有公司 3,732,560 股，占公司总股本的 1.25%。 上述股份均来源于公司首次公开发行前持有的股份及公司各年度实施利润分配 及资本公积转增股本方案取得的股份，均为无限售条件流通股。 减持计划的主要内容 因持股平台员工的资金需求，方方圆圆、家悦家悦计划通过大宗交易方式减 持所持有的公司股份，方方圆圆拟减持数量不超过 3,754,672 股，占公司总股本 的比例不超过 1.26%。家悦家悦拟减持数量不超过 1,812,15 ...

Group 1: PCB Equipment Orders - The company has seen a significant recovery in PCB orders in 2024, surpassing the peak levels of 2021, with a notable increase compared to 2023 [3] - Key factors for the order recovery include rising demand for high-end products like HDI and multilayer boards due to changes in end-user needs, new production bases established by downstream clients in Southeast Asia, and effective destocking in the 3C electronics sector [3] Group 2: Composite Fluid Equipment Outlook - The company remains optimistic about the future of composite copper foil technology, despite current orders not meeting expectations [3] - The development of composite fluid equipment has been ongoing since 2017, with significant technological advancements leading to the sale of various models, indicating a commitment to innovation [3] Group 3: Revenue Recognition Timeline - The revenue recognition for PCB equipment typically takes 6-9 months due to the manufacturing and installation cycles, which can vary by customer [4] - The company is actively working on glass substrate plating equipment, with orders already received, reflecting the growing demand in the global electronics industry [4] Group 4: Photovoltaic Copper Plating Equipment - The photovoltaic copper plating equipment has entered the trial production phase at customer sites, with technical indicators meeting standards and gaining customer approval [4] - There are ongoing negotiations with potential clients for both BC and HJT battery technologies, indicating a positive market response [4]

证券代码：688700 证券简称：东威科技 公告编号：2024-034 昆山东威科技股份有限公司 关于公司证券事务代表辞职的公告 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、准确性和完整性承担法律责任。 昆山东威科技股份有限公司（以下简称"公司"）董事会于近日收到公司证 券事务代表罗翠女士递交的书面辞职报告，罗翠女士因个人原因申请辞去证券事 务代表职务，辞职后不再担任公司任何职务，辞职报告自送达公司董事会之日起 生效，其辞职不会影响公司相关工作的正常开展。截至本公告披露日，罗翠女士 未持有公司股份，亦不存在应当履行而未履行的承诺事项。 公司董事会将根据《上海证券交易所科创板股票上市规则》、《上海证券交易 所科创板上市公司自律监管指引第 1 号——规范运作》等相关规定，尽快聘任符 合任职资格的人员担任证券事务代表，协助公司董事会秘书开展工作。 特此公告。 2024 年 11 月 23 日 昆山东威科技股份有限公司 ...

Investment Rating - The report gives a "Buy" rating for the company, Dongwei Technology [3][5]. Core Views - Dongwei Technology is a leading domestic electroplating equipment manufacturer, with downstream applications covering PCB, general hardware, and new energy sectors. The company has shown a revenue CAGR of 19.8% and a net profit CAGR of 19.5% from 2019 to 2023, while maintaining a high R&D investment rate of approximately 8% during the same period [2][3]. Summary by Sections 1. Company Overview - Established in 2005, Dongwei Technology has developed a strong presence in the electroplating industry, launching its first vertical continuous plating (VCP) equipment in 2006 and expanding into PCB and general hardware electroplating by 2007. The company has also actively entered the composite copper foil and photovoltaic electroplating markets [2][15]. 2. Business Fundamentals - The PCB and general hardware electroplating businesses provide a solid foundation for the company. The PCB electroplating sector is expected to recover significantly in 2024, with the company anticipating PCB orders to exceed the historical peak of 2021, driven by trends in Southeast Asia, AI servers, and automotive electrification [2][21]. - The company holds over 50% market share in domestic VCP equipment and is expanding its product range to include various mature wet processing equipment [2][24]. 3. New Energy Sector Growth - The new energy business, particularly in composite copper foil and photovoltaic electroplating, is opening new growth avenues. The composite copper foil offers significant advantages over traditional materials, and the company has established a comprehensive product matrix for this sector, achieving sales revenue of 338 million yuan in 2023 [2][3][21]. - The photovoltaic electroplating equipment has also been validated by customers, indicating strong market potential [2][3]. 4. Financial Projections - The company is projected to achieve revenues of 1.03 billion yuan, 1.69 billion yuan, and 2.11 billion yuan for the years 2024, 2025, and 2026, respectively, with year-on-year growth rates of 13%, 64.6%, and 24.7%. The net profit is expected to reach 153 million yuan, 317 million yuan, and 418 million yuan during the same period, with corresponding growth rates of 1.1%, 107.1%, and 31.9% [3][5].

Investment Rating - Maintain "Buy" rating [2][5] Core Views - PCB industry demand is recovering, with improved equipment orders [3] - Composite current collector industrialization is progressing, with potential for future growth [4] - Photovoltaic copper plating technology is advancing, expected to become a new profit growth point [4] Financial Performance - 2024 Q3 revenue: 188 million yuan, down 19.13% YoY and 3.67% QoQ [2] - 2024 Q3 net profit: 13 million yuan, down 72.85% YoY and 48.49% QoQ [2] - 2024-25 estimated net profit: 150 million yuan and 251 million yuan, with PE ratios of 56x and 33x respectively [5] Industry and Market Trends - PCB industry benefits from Southeast Asia investment wave, AI servers, and automotive electrification [3] - Composite aluminum foil has achieved vehicle application, with market orders converting [4] - Composite copper foil is advancing, with potential for mass production [4] Company Developments - Kunshan vacuum division factory completed and operational in early 2024 [3] - New energy equipment expansion project started construction in April 2024 [3] - Actively developing wide-width water electroplating equipment [4] Future Outlook - PCB industry bottoming out, VCP business improving [5] - New products expected to bring incremental growth [5] - Photovoltaic copper plating equipment in trial production, with potential for marketization [4]