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]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company's performance has declined, likely due to the delayed industrialization of composite fluid technology, leading to lower-than-expected demand for equipment in the new energy sector [2] - The gross margin has decreased, indicating a decline in profitability, with a gross margin of 38.75% for the first three quarters of 2024, down 5.80 percentage points year-on-year [3] - Inventory and contract liabilities have increased, with inventory at 527 million yuan, up 32.82% year-on-year, and contract liabilities at 252 million yuan, up 23.04% year-on-year [3] Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 580 million yuan, a year-on-year decrease of 20.68%, and a net profit attributable to shareholders of 68 million yuan, down 54.12% year-on-year [2] - The company's revenue for Q3 alone was 188 million yuan, a year-on-year decrease of 19.14%, with a net profit of 12.72 million yuan, down 72.85% year-on-year [2] - The company expects net profits for 2024-2026 to be 1.6 billion yuan (down 43%), 2.5 billion yuan (down 38%), and 3.2 billion yuan (down 40%), corresponding to P/E ratios of 37, 24, and 19 times respectively [4] Growth Opportunities - The company has achieved mass production of composite copper foil equipment and is actively developing composite aluminum equipment, with the aluminum vapor deposition equipment already completed [4] - The third-generation photovoltaic copper plating equipment has overcome capacity limitations, producing 8,000 pieces per hour, and has begun mass production at customer sites [4] - The company is also developing a large-width double-sided transmission roll-type contactless coating line to improve the utilization rate of composite fluid materials for lithium batteries [4]

Revenue and Profit - Revenue for Q3 2024 was ¥187,538,976.86, a decrease of 19.13% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2024 was ¥12,721,829.51, down 72.85% year-over-year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 decreased by 75.79%[9] - Basic and diluted earnings per share for Q3 2024 were both ¥0.04, a decline of 74.01% compared to the same period last year[9] - The net profit attributable to shareholders for the year-to-date period decreased by 54.12% compared to the same period last year[7] - Total operating revenue for the first three quarters of 2024 was CNY 579,677,291.04, a decrease of 20.7% compared to CNY 730,805,658.57 in the same period of 2023[17] - Net profit for the first three quarters of 2024 was CNY 68,401,354.32, down 54.1% from CNY 149,072,589.33 in the previous year[20] - Total operating revenue for the first three quarters of 2024 was CNY 501,366,571.67, a decrease of 29.0% compared to CNY 706,712,639.01 in the same period of 2023[25] - Net profit for the first three quarters of 2024 was CNY 117,009,462.67, down 12.9% from CNY 134,260,227.54 in the first three quarters of 2023[26] Research and Development - R&D investment totaled ¥20,982,074.80 in Q3 2024, representing 11.19% of revenue, an increase of 3.45 percentage points from the previous year[3] - Research and development expenses rose to CNY 62,583,955.94, an increase of 9.5% compared to CNY 57,370,903.57 in the previous year[19] - Research and development expenses for the first three quarters of 2024 were CNY 45,683,816.18, an increase of 8.5% compared to CNY 42,111,322.88 in the first three quarters of 2023[25] Assets and Liabilities - Total assets as of the end of Q3 2024 were ¥2,521,852,469.31, a 1.61% increase from the end of the previous year[3] - As of September 30, 2024, the total current assets amounted to approximately RMB 1.55 billion, a decrease of 3.7% from RMB 1.60 billion at the end of 2023[14] - The company's total liabilities increased to CNY 789,128,768.08 from CNY 745,606,502.07, marking a rise of 5.8%[19] - Non-current liabilities totaled CNY 59,596,038.53, up from CNY 48,505,271.90, indicating a growth of 22.5%[19] - Total liabilities as of the end of Q3 2024 were CNY 667,807,506.38, slightly up from CNY 659,008,774.20 at the end of Q3 2023[24] - The total assets of the company reached approximately RMB 2.52 billion, a slight increase from RMB 2.48 billion at the end of 2023[15] Cash Flow - The net cash flow from operating activities for the first three quarters of 2024 was -7,499,257.68 RMB, an improvement from -45,286,010.77 RMB in the same period of 2023[21] - The net cash flow from investment activities was 119,560,994.34 RMB, a significant recovery from -594,528,410.75 RMB in the same period of 2023[22] - The company's cash inflow from sales of goods and services was 483,970,416.09 RMB, down from 523,211,224.36 RMB in the same period of 2023[21] - The cash outflow for purchasing goods and services was 271,670,197.36 RMB, a decrease from 330,399,257.37 in the same period of 2023[21] - The net cash flow from operating activities was -28,226,693.67, compared to -98,744,818.48 in the previous year[29] - Total cash inflow from investment activities was 807,332,007.81, down from 875,946,472.62 year-over-year[29] Inventory and Receivables - Inventory levels rose significantly to approximately RMB 526.72 million, up 28% from RMB 411.57 million at the end of 2023[14] - The company's accounts receivable increased to approximately RMB 678.71 million from RMB 636.01 million, reflecting a growth of 6.7%[14] - The company's inventory rose to 294,908,832.86 RMB, up from 229,587,926.02 RMB in the previous year[23] - The accounts receivable increased to 622,483,269.80 RMB, compared to 603,658,981.93 RMB at the end of 2023[22] Financial Performance - The weighted average return on equity was 0.74%, a decrease of 2 percentage points year-over-year[2] - The company's total equity attributable to shareholders of the parent company was CNY 1,732,723,701.23, slightly down from CNY 1,736,315,757.41[19] - The company's total equity increased to CNY 1,571,584,982.65 in Q3 2024 from CNY 1,526,942,923.35 in Q3 2023, reflecting a growth of 2.9%[24] - The company's financial expenses improved, showing a net income of CNY -1,752,948.56 in the first three quarters of 2024 compared to CNY -7,484,890.75 in the same period of 2023[25] Other Information - The company attributed the decline in revenue and profit primarily to decreased income from new energy equipment and rising raw material prices[7] - Non-recurring gains for Q3 2024 included government subsidies amounting to ¥1,466,855.52[5] - The company has not reported any significant new strategies or product developments during the reporting period[13] - The company has adopted new accounting standards starting from 2024, which may affect the financial statements[29]

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"）于 2024 年 10 月 28 日召 开第二届董事会第十九次会议、第二届监事会第十六次会议，审议通过了《关于 公司 2024 年前三季度计提资产减值准备的议案》。现将相关情况公告如下： 一、计提信用及资产减值概述 根据《企业会计准则第 8 号——资产减值》《企业会计准则第 22 号——金 融工具确认和计量》及相关会计政策、会计估计的相关规定，为了真实、准确地 反映公司截至 2024 年 9 月 30 日的财务状况及 2024 年前三季度的经营成果，本 着谨慎性原则，公司 2024 年前三季度确认资产减值损失和信用减值损失共计 26,839,659.21 元，明细如下： | 项目 | 本年发生额 | | | --- | --- | --- | | | （单位：人民币 元） | | | 一、信用减值损失 | | -20,956,434.75 | | 应收票据坏账损失 | | -767,601.87 | | 应收账款坏账损失 | | -19 ...