证券代码：688766 证券简称：普冉股份 公告编号：2024-041 普冉半导体（上海）股份有限公司 关于控股股东、实际控制人、董事长提议中期分红暨落实 公司 2024 年年度"提质增效重回报"行动方案的公告 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。 普冉半导体（上海）股份有限公司（以下简称"公司"）董事会于 2024 年 7 月 16 日收到公司控股股东、实际控制人、董事长王楠先生《关于提议普冉半导 体（上海）股份有限公司中期分红暨落实公司 2024 年年度"提质增效重回报" 行动方案的函》。具体内容如下： 一、提议人的基本情况及提议时间 1、提议人：公司控股股东、实际控制人、董事长王楠先生 王楠先生基于对公司未来持续发展的信心和对公司长期价值的合理判断，为 合理回报投资者，增强投资者对公司的投资信心，实施"提质增效重回报"专项 行动方案，落实"以投资者为本"的理念，构筑以价值创造和互利共生的双赢格 局，使各方更紧密的合力推进公司的长远、稳定、持续发展，促进公司长期健康 发展，提议公司实施中期分红安排。 三、提议 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4][159]. Core Views - The company is a leading domestic storage manufacturer, focusing on non-volatile memory and microcontroller (MCU) chips, leveraging its SONOS process technology to enhance product competitiveness [3][8]. - The storage industry is expected to enter a new upward cycle, with the MCU sector continuing to grow, driven by increasing demand in various applications [116][155]. - The company has successfully expanded its market share during the previous down cycle and is poised to benefit from the recovery in the storage market [8][148]. Financial Summary - The company’s revenue for 2024-2026 is projected to be 18.04 billion, 22.33 billion, and 26.77 billion yuan, representing year-on-year growth of 60.1%, 23.8%, and 19.9% respectively [4][175]. - The net profit attributable to the parent company is expected to be 2.52 billion, 3.13 billion, and 3.87 billion yuan for the same period, with growth rates of 622.3%, 24.3%, and 23.6% respectively [4][175]. - The company’s earnings per share (EPS) for 2024-2026 are forecasted at 2.39, 2.97, and 3.67 yuan [4][175]. Business Model and Market Position - The company has a dual product line consisting of storage and "storage+" products, including NOR Flash, EEPROM, MCU chips, and analog products, with applications across various sectors such as IoT, automotive electronics, and consumer electronics [8][75]. - The company is actively expanding its MCU business by leveraging its existing NOR Flash business model, aiming to capture emerging market opportunities [14][147]. - The company’s strong sales capabilities and market insight have facilitated rapid growth in its NOR Flash business, and it is now extending these advantages to the MCU sector [14][147]. Industry Outlook - The global storage chip market is projected to grow significantly, with the NOR Flash segment expected to benefit from the exit of foreign competitors and increasing domestic demand [119][122]. - The EEPROM market is also anticipated to grow, driven by applications in smart devices and automotive electronics, with the company positioned to capture a larger market share [125][144]. - The MCU market is expected to expand due to the rise of IoT and electric vehicles, with the company’s products being well-suited for these applications [63][63].

Investment Rating - The report maintains a "Buy" rating for the company [4][15]. Core Views - The company specializes in the design and sale of non-volatile memory chips and derivative chips, including NOR Flash and EEPROM, with a strong market position, ranking sixth globally and second domestically in sales from 2020 to 2022 [4]. - The company achieved a record revenue of 405 million yuan in Q1 2024, representing a year-on-year growth of 98.52%, and a net profit of 50 million yuan, up 277.41% year-on-year [7]. - The semiconductor industry is expected to recover, with global semiconductor revenue projected to rebound to 630.2 billion USD in 2024, a 20% increase, driven by strong growth in the storage market [7]. Summary by Sections Company Overview - The company focuses on non-volatile memory chips, including NOR Flash and EEPROM, and has established a stable customer network with major brands like OPPO, vivo, and Samsung [4]. - The company has invested significantly in R&D, with a compound annual growth rate of 45% over the past three years, and plans to apply for at least 50 new patents in 2024 [4]. Financial Performance - In Q1 2024, the company reported a gross margin of 31.8%, an increase of 9.63% year-on-year, with a decrease in sales, management, and R&D expense ratios compared to the previous year [7]. - The company forecasts revenues of 1.655996 billion yuan, 2.08645 billion yuan, and 2.58896 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 267.44 million yuan, 335 million yuan, and 413.22 million yuan [4][19]. Market Outlook - The company is well-positioned to benefit from the recovery in the semiconductor market, with a focus on expanding its market share and enhancing its overseas business [7]. - The report highlights the company's strategic partnerships with upstream wafer and packaging testing manufacturers, which help mitigate supply chain challenges and ensure capacity [4].

经普冉半导体（上海）股份有限公司（以下简称"公司"）财务部门初步测 算，公司 2024 年 4 月至 5 月实现营业收入 33,772 万元左右，较去年同期增长 131%左右。 本公告所载公司 2024 年 4 月至 5 月主要经营数据及其他数据仅为初步核算 数据，未经注册会计师审计，仅作为阶段性财务数据供投资者参考，不能以此推 算公司第二季度及全年业绩情况，敬请广大投资者注意投资风险。 2024 年以来，随着下游市场的景气度逐渐复苏，公司产品出货量及营业收 入同比均有较大幅度提升，公司 2024 年 1 月至 5 月出货量累计约 35 亿颗，较去 年同期翻番，目前在手订单 1.7 亿元左右（含税），取得了良好的经营开局。公 司将持续加大研发投入和新产品开发力度，积极开拓市场，抓住终端业务的新兴 需求，保障研发及生产交付等进展顺利落地，延续公司业绩向好态势。 二、其他说明事项 特此公告。 证券代码：688766 证券简称：普冉股份 公告编号：2024-040 普冉半导体（上海）股份有限公司 关于 2024 年 4 月至 5 月主要经营数据的公告 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 ...

Group 1: Company Overview and Performance - The company reported a significant increase in 2023 sales, with NOR Flash product line shipments exceeding 3 billion units and EEPROM shipments surpassing 1.4 billion units, both reaching historical highs [4][5] - For 2024, the company aims for a revenue growth rate of no less than 15% based on 2023 figures, with a target growth rate of at least 45% [4] Group 2: Product Pricing and Market Trends - In Q1 2024, the prices for NOR Flash and MCU product lines have stabilized after a decline, with NOR Flash prices beginning to recover [5][6] - The company is actively expanding its presence in the rapidly growing e-cigarette market, leveraging its competitive advantages in low-cost, compact, and low-power products [5][6] Group 3: Product Line Expansion and R&D - The company is exploring the Driver product line, which will complement existing EEPROM and MCU products, focusing on applications in mobile camera modules [6] - Continuous investment in R&D is planned to ensure product line enhancement and timely launch of new products, alongside attracting high-quality talent for sustainable development [6] Group 4: Market Strategy and Future Outlook - The company positions itself as a general-purpose platform, aiming to penetrate various fields and enhance market share to balance risks [5][6] - Future price trends for NOR Flash products will be influenced by multiple market factors, with ongoing monitoring and communication planned [6]

证券代码：688766 证券简称：普冉股份 公告编号：2024-039 普冉半导体（上海）股份有限公司 2023 年年度权益分派实施公告 1. 发放年度：2023 年年度 2. 分派对象： 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： 每股转增 0.4 股 相关日期 | 股权登记日 | 除权（息）日 | 新增无限售条件流通股份 | | --- | --- | --- | | | | 上市日 | | 2024/6/5 | 2024/6/6 | 2024/6/6 | 一、 通过转增股本方案的股东大会届次和日期 本次转增股本方案经公司 2024 年 5 月 6 日的 2023 年年度股东大会审议通过。 二、 转增股本方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 差异化分红送转方案： （1） 公司以 2023 年度实施权益分派方案的股权登记日登记的总股本扣减 公司回购专用证券账户中股份为基数，以资本公积向全 ...

关于普冉半导体（上海）股份有限公司 差异化分红事项的核查意见 中信证券股份有限公司 中信证券股份有限公司（以下简称"保荐机构"）作为普冉半导体（上海）股份 有限公司（以下简称"公司"、"普冉股份"）首次公开发行股票并上市的保荐机构 ，根据《中华人民共和国公司法》《中华人民共和国证券法》《证券发行上市保荐业 务管理办法》《上海证券交易所上市公司自律监管指引第7号——回购股份》等法律 法规，对公司2023年度利润分配所涉及的差异化分红事项（以下简称"本次差异化分 红"）进行了核查，具体情况如下： 一、本次差异化分红的原因 公司于2022年8月25日召开第一届董事会第二十四次会议，审议通过了《关于以 集中竞价交易方式回购公司股份的方案》同意公司使用自有资金通过集中竞价交易 方式进行股份回购，回购股份将全部用于员工持股计划或股权激励，回购价格不超过 240.00元/股（含），回购资金总额不超过人民币7,000万元（含），不低于人民币3,500 万元（含），回购期限为自公司董事会审议通过本次回购方案之日起12个月内。 截至2023年8月18日，公司上述股份回购实施完毕，回购期间内公司通过上海证 券交易所交易系统以集中竞 ...

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [2]. Core Views - The company has shown significant recovery in profitability, driven by the resurgence of downstream demand and the "Storage+" strategy, leading to revenue growth in 2023 and a successful turnaround to profitability in Q4 2023 [1][6]. - The company's revenue for 2023 reached 1.127 billion yuan, a year-on-year increase of 21.87%, while the net profit for Q1 2024 was 50 million yuan, reflecting a year-on-year growth of 277.41% [2][6]. - The company is focusing on high-level R&D investments and expanding its product offerings, which are expected to drive long-term performance growth [6]. Summary by Sections Financial Performance - In 2023, the company achieved a revenue of 1.127 billion yuan, up 21.87% year-on-year, while the net profit was -48.27 million yuan, a decline of 158.06% [2]. - For Q1 2024, the revenue was 405 million yuan, representing a 98.52% increase year-on-year, and the net profit was 50 million yuan, a significant increase of 277.41% [2][6]. - The gross margin for Q1 2024 was 31.8%, an increase of 9.64 percentage points year-on-year [1]. Strategic Initiatives - The company launched a new stock incentive plan to attract and retain talent, which is expected to enhance the core team's cohesion and competitiveness [3]. - The "Storage+" strategy aims to expand into higher value-added fields and diversify into microcontroller and analog chip markets [23]. Product Development - The company has introduced over 100 MCU chip products across various series, supporting a range of applications in consumer electronics, monitoring, and medical fields [23]. - In the NOR Flash product line, the company has maintained its competitive edge with low power consumption and high reliability, launching new products that meet industry standards [24][25].

Group 1: Company Overview and Performance - The company, Puran Semiconductor (Shanghai) Co., Ltd., held an investor relations activity on May 19, 2024, to discuss its performance for the year 2023 and the first quarter of 2024 [2][3]. - The company reported that its 1Gbit NOR Flash products have already been mass-produced and are being introduced to clients, primarily in industrial control and automotive sectors [3][4]. Group 2: Product Strategy and Market Position - The company plans to consolidate its position in the NOR Flash small and medium capacity market over the next 2-3 years while expanding its customer base for large capacity products [3][4]. - The MCU product line, particularly M0+ and M4 core products, will enhance market penetration and contribute to revenue growth [4][6]. Group 3: Competitive Landscape - Taiwanese manufacturers like Winbond and Macronix have advantages in experience and process technology, while domestic manufacturers excel in innovation and cost control [4][5]. - The company aims to leverage its strengths in process innovation and regional competition to capture more market share in niche segments [4][5]. Group 4: Future Plans and Shareholder Returns - The company is considering increasing the frequency of dividends and will implement a capital reserve conversion plan for 2023, focusing on balancing performance growth and shareholder returns [4][5]. - The board has been authorized to issue shares to specific investors, with plans to assess the feasibility of multiple dividends in the future [5][6]. Group 5: Market Demand and Pricing - The price of MCU products is expected to stabilize after several quarters of adjustments, with significant reductions in channel and terminal inventory levels observed [6][7]. - The value of NOR Flash used in electric vehicles varies significantly based on application scenarios, ranging from a few cents to several dollars per unit [5][6].

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Views - The company's Q1 2024 performance exceeded expectations, driven by a recovery in demand and the launch of new products, achieving a record quarterly revenue of 405 million, representing a year-over-year increase of 98.52% and a quarter-over-quarter increase of 12.50% [2][6] - The gross margin improved to 31.8%, up 9.64 percentage points year-over-year and 4.03 percentage points quarter-over-quarter, indicating a significant enhancement in profitability [2][6] - The growth in revenue is attributed to the recovery in downstream consumer electronics demand, effective market share expansion strategies, and a reduction in asset impairment losses [2][6] Summary by Sections Financial Performance - In Q1 2024, the company reported a net profit of 50 million, a year-over-year increase of 277.41% but a quarter-over-quarter decrease of 5.66% [2] - The adjusted net profit was 62 million, reflecting a year-over-year increase of 232.99% and a quarter-over-quarter increase of 34.78% [2] Market Outlook - The report anticipates continued growth in profitability due to ongoing recovery in consumer electronics demand and deeper market penetration in automotive and industrial control sectors [2][6] - The company is expected to maintain an upward trend in profitability as it optimizes its product and customer structure [2][6] Revenue Forecast - The company is projected to achieve revenues of 1.527 billion, 1.896 billion, and 2.351 billion for the years 2024, 2025, and 2026 respectively, with corresponding EPS of 2.02, 3.26, and 4.39 [6][8] - The revenue growth rates are forecasted at 35.5% for 2024, 24.2% for 2025, and 24.0% for 2026 [8] Strategic Initiatives - The company is implementing a "Storage+" strategy to expand into microcontroller and analog chip markets, leveraging its technology advantages in the storage sector [5] - The introduction of new MCU products and the development of optical stabilization products are expected to enhance the company's competitive edge in the camera module market [5]