Financial Performance - The company achieved a revenue of 896 million yuan in the first half of 2024, representing a year-on-year increase of 91.22% and a quarter-on-quarter increase of 21.28% [3][7] - The net profit before non-recurring items was 136 million yuan, while the net profit after non-recurring items reached 151 million yuan, both showing significant growth compared to the same period last year [3] - The company’s storage product shipments reached 3.748 billion units, up 71.44% year-on-year, while "storage+" product shipments surged to 373 million units, marking a 275.36% increase [3] Research and Development - R&D investment amounted to 111 million yuan, accounting for 12.42% of revenue, which is an 18.68% increase from the previous year [3] - The number of R&D and technical personnel reached 227, making up over 60% of the total workforce, indicating a strong focus on innovation [3][7] - The company has been granted 46 invention patents and 51 integrated circuit layout design certificates, establishing a comprehensive intellectual property system [5] Strategic Initiatives - The company is actively expanding its product lines under the "storage" and "storage+" strategies, focusing on NOR Flash and EEPROM products, while also enhancing its MCU product brand recognition [3][5] - The company plans to continue optimizing its existing product lines and exploring new market opportunities, particularly in consumer electronics and smart devices [5][9] - A stock incentive plan has been implemented, covering 75% of all employees, to enhance motivation and align employee interests with company growth [3] Investor Relations - The company has proposed a capital reserve distribution plan, offering a bonus of 1.9 yuan for every 10 shares held, alongside a 10-for-4 stock conversion for all shareholders [3] - The management expressed cautious optimism regarding the demand outlook for the second half of 2024, despite potential inventory adjustments in the downstream market [6][8] - The company emphasized its commitment to maintaining high-quality and steady growth while focusing on core competitiveness and operational efficiency [3][7]

证券代码：688766 证券简称：普冉股份 公告编号：2024-054 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 （一） 股东大会召开的时间：2024 年 9 月 12 日 （二） 股东大会召开的地点：上海市浦东新区申江路 5005 弄 1 号楼 9 楼公司会 议室 （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： 普冉半导体（上海）股份有限公司 2024 年第三次临时股东大会决议公告 | 1、出席会议的股东和代理人人数 | 133 | | --- | --- | | 普通股股东人数 | 133 | | 2、出席会议的股东所持有的表决权数量 | 55,162,196 | | 普通股股东所持有表决权数量 | 55,162,196 | | 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 | 52.3705 | | 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（%） | 5 ...

上海贤云律师事务所 关于普冉半导体（上海）股份有限公司 2024 年第三次临时股东大会的 法律意见书 致：普冉半导体（上海）股份有限公司 根据《中华人民共和国证券法》《中华人民共和国公司法》（以下简称"《公司法》"）、 《上市公司股东大会规则》（以下简称"《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》"）等相关法律、法规、规范性 文件以及《普冉半导体（上海）股份有限公司章程》（以下简称"《公司章程》"）的规定， 上海贤云律师事务所（以下简称"本所"）指派律师出席普冉半导体（上海）股份有限公司 （以下简称"公司"、"普冉股份"）2024 年第三次临时股东大会（以下简称"本次股东大 会"），并出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 1、本所律师已经按照《股东大会规则》的要求对本次股东大会的真实性、合法性进行 了核查和验证（以下简称"查验"）并发表法律意见，本法律意见书中不存在虚假记载、误 导性陈述及重大遗漏。 2、本所律师仅对普冉股份本次股东大会的召集、召开程序、出席人员的资格、股东大 会表决程序和表决结果的合法性发表意见，而不对本次股 ...

Investment Rating - The investment rating for the company is "Buy" with a target price of 61.25 yuan, maintaining the rating from previous assessments [1]. Core Views - The company has achieved significant growth in both revenue and net profit, with a revenue of 896 million yuan for the first half of 2024, representing a year-on-year increase of 91.22%. The net profit attributable to the parent company reached 136 million yuan, a turnaround from losses, with a year-on-year growth of 273.78% [1]. - The semiconductor design industry is showing signs of recovery, contributing to the company's performance improvement. The management is actively consolidating and expanding market share while optimizing product and customer structures [1]. - The company's "Storage +" strategy is yielding results, with revenue from storage series chips reaching 724 million yuan, up 70.81% year-on-year, and a gross margin of 34.81%, an increase of 15.32 percentage points [1]. Financial Performance - For the first half of 2024, the company reported a basic earnings per share of 1.29 yuan, an increase of 2.03 yuan year-on-year, indicating a significant enhancement in profitability [1]. - The company has invested 111 million yuan in R&D, accounting for 12.42% of its revenue, which is an increase of 18.68% compared to the same period last year [1]. - The company plans to distribute a cash dividend of 1.9 yuan for every 10 shares, with a commitment to maintain a cumulative cash dividend ratio of no less than 30% of the average net profit attributable to the parent company over three years [1]. Market Position and Growth Drivers - The company ranks sixth globally in the sales of NOR Flash and EEPROM products, with a focus on enhancing its storage product line and expanding into automotive electronics [1]. - The "Storage +" strategy has led to a 284.61% increase in revenue from MCU and VCM Driver products, which are now key growth engines for the company [1]. - The company has received several awards and recognitions, enhancing its brand visibility and industry reputation, including being named one of the top 100 IC design companies in China [1].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 64.3 CNY per share [5][14]. Core Insights - The company's actual performance exceeded forecasts, with Q2 revenue reaching a record high for a single quarter [4][5]. - The recovery in the industry, combined with the company's strong alpha, has driven significant revenue growth [5]. - The company has successfully captured market share despite a declining price trend in the NOR Flash and MCU sectors [7][9]. Financial Performance Summary - For H1 2024, the company reported revenue of 896 million CNY, a year-over-year increase of 91%, and a net profit of 136 million CNY, up 274% year-over-year [7]. - Q2 2024 revenue was 491 million CNY, reflecting an 86% year-over-year increase and a 21% quarter-over-quarter increase, with a net profit of 86 million CNY [8]. - The gross margin for Q2 2024 was 35%, up 16 percentage points year-over-year, while the net margin was 18%, up 35 percentage points year-over-year [8]. Revenue Composition - In H1 2023, storage revenue accounted for 90% of total revenue, while in H1 2024, it accounted for 81% [8]. - Storage revenue for H1 2024 was 724 million CNY, a 71% year-over-year increase, with a gross margin of 34.81% [8]. - The "storage+" segment, primarily consisting of MCUs, generated 172 million CNY in revenue for H1 2024, a 285% year-over-year increase [8]. Growth Drivers - The company is expanding its product offerings in large-capacity NOR Flash and MCUs, which are expected to drive future growth [9][10]. - The NOR Flash segment has seen significant advancements, with the company leading in low-power, high-cost performance products [9]. - The MCU segment has rapidly gained market share, with over 300 product models expected by mid-2024, indicating strong growth potential [10]. Profitability Outlook - The company anticipates a net profit of 273 million CNY for 2024, with projections of 390 million CNY and 507 million CNY for 2025 and 2026, respectively [10]. - The report estimates a PE ratio of 25 for 2024, decreasing to 13 by 2026, reflecting expected profitability improvements [10].

Investment Rating - The report maintains an "Accumulate-A" rating for the company [1][3]. Core Views - The company has shown significant revenue growth, with a 91.22% year-on-year increase in revenue to 896 million yuan in the first half of 2024, and a net profit increase of 273.78% to 136 million yuan [1]. - The "Storage+" strategy is effectively driving long-term performance, focusing on technology innovation and product optimization [1][2]. Financial Performance - In Q2 2024, the company achieved revenue of 491 million yuan, a year-on-year increase of 85.60% and a quarter-on-quarter increase of 21.28% [1]. - The gross profit margin improved significantly, reaching 33.74%, an increase of 13.17 percentage points year-on-year [1]. - The net profit margin for the first half of 2024 was 15.18%, up 31.88 percentage points year-on-year [1]. Product Strategy - The company is expanding its product lines, focusing on NOR Flash, EEPROM, and microcontrollers, under the "Storage+" strategy [2]. - The NOR Flash products utilize SONOS and ETOX processes, covering capacities from 512Kbit to 1Gbit, with a focus on low power consumption and high reliability [2]. - The EEPROM products are being applied in industrial control and automotive sectors, with successful mass deliveries to domestic and international clients [2]. Earnings Forecast - The expected EPS for 2024, 2025, and 2026 are 2.60 yuan, 3.37 yuan, and 4.14 yuan respectively, with corresponding P/E ratios of 24.7, 19.1, and 15.5 [3]. - Revenue projections for 2024, 2025, and 2026 are 1.878 billion yuan, 2.335 billion yuan, and 2.727 billion yuan, reflecting growth rates of 66.6%, 24.3%, and 16.8% respectively [5][8]. Market Position - The company is benefiting from a recovery in market demand, particularly in consumer electronics such as wearable devices, smartphones, and smart home applications [1][2]. - The company has significantly increased its market share and improved profitability in the context of a recovering storage industry [3].

Investment Rating - The report maintains a "Buy" investment rating for the company [2][6]. Core Views - The company has experienced a significant recovery in profitability, with a 91.22% year-on-year increase in revenue for the first half of 2024, reaching 896 million yuan. Net profit attributable to shareholders surged by 273.78% to 136 million yuan [3][4]. - The demand for storage chips is on the rise, with the company's storage product revenue increasing by 70.81% to 724 million yuan in the first half of 2024, driven by a strong global semiconductor market [4][5]. - The "Storage+" series has shown remarkable growth, with revenue increasing by 284.61% to 172 million yuan, indicating successful product launches and market acceptance [5]. Summary by Sections Financial Performance - In Q2 2024, the company achieved a revenue of 491 million yuan, a year-on-year increase of 85.60%, and a net profit of 86 million yuan, up 271.75% [3]. - The company forecasts revenues of 2.002 billion yuan, 2.509 billion yuan, and 3.015 billion yuan for 2024, 2025, and 2026 respectively, with corresponding EPS of 2.82 yuan, 3.39 yuan, and 3.96 yuan [6][8]. Market Trends - The global semiconductor revenue is expected to rebound to 630.2 billion USD in 2024, with the storage market projected to grow by 52.5% [4]. - The company is positioned well within the storage chip market, leveraging advanced manufacturing processes and a diverse product range [4][5]. Product Development - The company has successfully launched its NOR Flash and EEPROM products, achieving industry-leading technology levels with a 40nm SONOS process [4]. - The MCU products based on ARM architecture have also begun mass production, targeting various applications in consumer electronics [5].

普冉半导体（上海）股份有限公司 2024 年第三次临时股东大会 证券代码：688766 证券简称：普冉股份 普冉半导体（上海）股份有限公司 2024年第三次临时股东大会会议资料 二〇二四年九月 1 普冉半导体（上海）股份有限公司 2024 年第三次临时股东大会 目 录 | 2024年第三次临时股东大会会议须知 3 | | --- | | 2024年第三次临时股东大会会议议程 5 | | 议案一：关于公司2024年半年度利润分配预案的议案 7 | | 议案二：关于计提2024年半年度资产减值准备的议案 9 | | 议案三：关于使用部分超募资金增加募投项目投资额暨调整募投项目实施进度的议案 11 | | 议案四：关于变更公司注册资本、修订《公司章程》并办理工商变更登记的议案 15 | | 议案五：关于授权公司管理层处置所持上市公司股票的议案 22 | 2 普冉半导体（上海）股份有限公司 2024 年第三次临时股东大会 普冉半导体（上海）股份有限公司 2024 年第三次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证 大会的顺利进行，根据《中华人民共和国公司法》《中华人民共和 ...

证券代码：688766 证券简称：普冉股份 公告编号：2024-053 普冉半导体（上海）股份有限公司 关于召开 2024 年半年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： 会议召开时间：2024 年 09 月 12 日(星期四) 上午 11:00-12:00 会议召开地点： 上海证券 交 易 所 上 证 路 演 中 心 （ 网址： 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 09 月 05 日(星期四)至 09 月 11 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 ir@puyasemi.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。 普冉半导体（上海）股份有限公司（以下简称"公司"）已于 2024 年 08 月 28 日发布公司 2024 年半年度报告，为便于广大投资者更全面深入地了解公司 2024 年半年度经营成果、财务状况，公司计划 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 94.8 CNY per share, compared to the current price of 64.33 CNY [1]. Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2024, with revenue reaching 896 million CNY (up 91.22% year-over-year) and net profit of 136 million CNY (up 273.78% year-over-year) [1]. - The second quarter of 2024 saw record revenue of 491 million CNY, marking a 21.28% quarter-over-quarter increase, driven by the recovery in demand for consumer electronics such as IoT devices, wearables, and smartphones [1]. - The gross margin improved to 35.35% in Q2 2024, reflecting a 3.55 percentage point increase quarter-over-quarter, indicating enhanced profitability [1]. Financial Performance Summary - For the first half of 2024, the company achieved total revenue of 896 million CNY, with a year-over-year growth of 91.22%. The net profit attributable to shareholders was 136 million CNY, showing a year-over-year increase of 273.78% [1][2]. - The company’s revenue forecast for 2024-2026 has been revised upwards, with projected revenues of 1.81 billion CNY, 2.30 billion CNY, and 2.71 billion CNY for 2024, 2025, and 2026 respectively [1][2]. - The net profit forecast for the same period is adjusted to 258 million CNY, 333 million CNY, and 415 million CNY, respectively, reflecting substantial growth expectations [2][3]. Product and Market Development - The company’s storage product line saw revenue of 724 million CNY in H1 2024, a 70.81% increase year-over-year, with a significant rise in shipment volume [1]. - The "Storage +" product series achieved revenue of 172 million CNY in H1 2024, representing a remarkable year-over-year growth of 284.61% [1]. - The company is expanding its market share in the NOR Flash product line and has successfully launched new products, enhancing its competitive position in the semiconductor market [1].