隐证券 2023Q4 营收、业绩同比双增，产品矩阵不断完善 ——公司信息更新报告 艾为电子（688798.SH） 2024 年 04 月 14 日 -60% -40% -20% 0% 20% 2023-04 2023-08 2023-12 2024-04 艾为电子 沪深300 《2023Q2 业绩边际回暖，多条赛道 协同发力前景可期—公司信息更新报 告》-2023.8.22 《2022Q4 营收环比增长，多行业方 向布局产品矩阵—公司信息更新报 告》-2023.4.16 风险提示：下游需求不及预期；客户导入不及预期；技术研发不及预期。 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------|-------|----------|-----------------------------|-------------|-------|-----------------------------------------------|---- ...

证券简称：艾为电子 证券代码：688798 上海艾为电子技术股份有限公司 投资者关系活动汇总表 （2024年4月10日-12日） ■特定对象调研 □分析师会议 投资者关系活动类别 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 （请文字说明其他活动内容） MILLENNIUM CAPITAL MANAGEMENT、Morgan Stanley、Point72 等 参与单位名称 160家机构 时间 2024年4月10日、20224年4月12日 地点 公司会议室、通讯方式 上市公司接待人员姓 董事会秘书：余美伊 名 投资者关系活动主要 第一部分：介绍公司概要、公司成长、公司团队、主要产品线等。 第二部分：问答环节： 内容介绍 问题一：公司2023年度营业收入创历史新高的原因有哪些？ 回答：公司持续丰富和优化产品品类和结构并推出更多新产品，逐渐从占有相 对份额的手机、AIOT领域扩展到工业、汽车等领域，不断开拓市场领域和客户 群体，同时也在推进工业和汽车领域的研发进展。公司根据客户需求及时进行 技术和产品创新，加快产品迭代以及产品性能和成本优化，最终实现营业收入 创历史新高。 ...

盈利能力方面，公司毛利率同比下降，净利率有所增长。23 年公司毛利 率 24.85%，同比下降 13.2pct，由于行业去库存引起产品价格下降，对公司毛 利率有较大影响，其中收入占比较高的高性能数模混合芯片及电源管理芯片 毛利率分别为 27.8%/27.9%，同比下降 9.7/10.7pct。期间费用率方面，23 年公 司销售/管理/研发费用率分别 3.96%/6.03%/20.05%，公司有效控制研发费用， 研发费率同比下降 8.5pct。23 年公司净利率 2.02%，同比提升 4.6pct，公司开 源节流，在毛利率下行的情况下，有效控制费用，同时投资净收益同比增加 8496 万元，实现归母净利润扭亏为盈。 请务必阅读最后一页股票评级说明和免责声明 2 3 集成电路 艾为电子（688798.SH） 增持-A(首次) 消费电子企稳回升，汽车电子打开新成长曲线 | --- | --- | |-----------------------------------------|-------------| | | | | 基础数据： 2023 年 12 月 31 | | | 每股净资产（元）： 每股资本公积（元） ...

Investment Rating - The investment rating for the company is upgraded to "Buy" [13] Core Views - The company has shown significant improvement in operational profitability, with expectations for growth potential [13] - The company reported a revenue of 2.531 billion yuan in 2023, representing a year-on-year growth of 21.1% [6][13] - The net profit attributable to the parent company for 2023 was 51 million yuan, marking a turnaround from losses [13] - The gross margin for 2023 was 24.8%, with expectations for improvement in the coming years [6][13] - The company has successfully reduced operating expenses, leading to a positive operational profit in Q4 2023 [13] Financial Summary - Revenue projections for the upcoming years are as follows: 3.164 billion yuan in 2024, 4.014 billion yuan in 2025, and 4.923 billion yuan in 2026 [6] - The net profit attributable to the parent company is forecasted to reach 224 million yuan in 2024, 399 million yuan in 2025, and 606 million yuan in 2026 [6] - The gross margin is expected to improve to 27.4% in 2024, 29.8% in 2025, and 32.1% in 2026 [6] - The company’s earnings per share (EPS) are projected to be 0.97 yuan in 2024, 1.72 yuan in 2025, and 2.61 yuan in 2026 [6] - The price-to-earnings (P/E) ratio is expected to decrease from 313.77 in 2024 to 19.82 in 2026, indicating improved valuation [6] Operational Insights - The company has over 1,200 product models, with shipments exceeding 5.3 billion units in 2023, achieving record revenue and shipment volumes [13] - The company has made significant advancements in the consumer electronics sector, particularly in optical image stabilization (OIS) technology for smartphone cameras [13] - There is substantial growth potential in the industrial and automotive sectors, with ongoing efforts to expand market applications [13]

Corporate Structure and Governance - The company established a new wholly-owned subsidiary, Chengdu Aiwei Microelectronics Technology Co., Ltd., during the reporting period[2]. - The company currently has a total of 9 wholly-owned subsidiaries and 1 subsidiary[2]. - The company has a strong governance structure with a board of directors and management team with extensive experience in the industry[17]. - The company has strengthened control over subsidiaries in financial management, operational decision-making, and personnel management[44]. - The company’s board of directors has established a remuneration and assessment committee to review and approve remuneration policies for directors and senior management[22]. - There were no dissenting opinions from the supervisory board regarding the supervision matters during the reporting period[56]. - The company has a governance structure that ensures equal rights for shareholders and timely information disclosure[136]. Meetings and Proposals - The first extraordinary general meeting of 2023 was held on January 10, 2023, where 3 proposals were approved without any rejections[9]. - The annual general meeting of 2022 took place on May 11, 2023, with 13 proposals approved, also without any rejections[9]. - The second extraordinary general meeting of 2023 is scheduled for November 14, 2023, with 2 proposals expected to be approved[9]. - The company held a total of 5 board meetings during the reporting period, all conducted through a combination of on-site and communication methods[50]. - The company held three earnings conference calls during the reporting period: for the 2022 annual results, the 2023 semi-annual results, and the 2023 third-quarter results[144]. Financial Performance - The company reported a total revenue of 2,530.92 million RMB for the fiscal year 2023, with a net profit of 51.01 million RMB[39]. - The company’s net profit attributable to shareholders for the year 2023 is RMB 51,008,934.42, with a profit distribution plan proposing a cash dividend of RMB 0.5 per 10 shares[59]. - The total cash dividend to be distributed amounts to RMB 11,551,565.40, representing 22.65% of the net profit attributable to shareholders for 2023[61]. - The total amount of dividends, including share repurchases, is RMB 16,893,977.36, which accounts for 33.12% of the net profit attributable to shareholders for 2023[61]. - The company’s total revenue for 2021 was ¥2,327,001,356.81, indicating a recovery trend in 2023 compared to previous years[178]. - The net profit attributable to shareholders of the listed company for 2023 was ¥51,008,934.42, a significant recovery from a loss of ¥53,382,798.75 in 2022[178]. - The net cash flow from operating activities for 2023 was ¥428,799,425.83, improving from a negative cash flow of ¥386,980,753.63 in 2022[178]. - As of the end of 2023, the total equity attributable to shareholders was ¥3,622,053,913.90, reflecting a 2.45% increase from ¥3,535,296,702.33 at the end of 2022[178]. Employee Structure and Compensation - The company has a total of 966 employees, including 722 technical personnel, 164 management personnel, and 80 sales personnel[30]. - The total remuneration for core technical personnel at the end of the reporting period was 410,800 RMB[22]. - The actual remuneration paid to directors, supervisors, and senior management during the reporting period totaled 5.76 million RMB[22]. - The company has implemented a comprehensive salary incentive system, aligning fixed and variable compensation with performance contributions[57]. - The company has established a salary system based on job levels and industry benchmarks to enhance employee motivation and retention[57]. - The company’s employee structure includes 4 PhD holders, 372 master's degree holders, and 503 bachelor's degree holders[30]. - Employee stock ownership numbers reached 39, accounting for 4.04% of total employees, with a total of 15,737.72 thousand shares held[111]. Strategic Focus and Development - The company is focused on expanding its market presence and enhancing its product offerings through new technology development[17]. - The company has a strategic plan for future growth, including potential mergers and acquisitions[17]. - The company focuses on high-quality mixed-signal, analog, and RF integrated circuit design, contributing to the development of China's integrated circuit industry[80]. - The company has conducted nearly dozens of series of Chinese chip-themed educational activities since 2019, promoting awareness among youth[83]. - In 2023, the company established the Minhang District Integrated Circuit Industry Intellectual Property Alliance to enhance industry competitiveness and innovation[83]. - The company emphasizes environmental protection, investing 121,100 RMB in environmental initiatives during the reporting period[98]. Compliance and Regulatory Matters - The company has not faced any penalties from securities regulatory authorities in the past three years[24]. - The company has committed to strict adherence to all public commitments made during the IPO process and will actively accept social supervision[129]. - The controlling shareholder, Sun Hongjun, has pledged to avoid any business that competes with the company's main operations during his tenure[130]. - The company has established measures to manage related party transactions effectively[199]. - The company is committed to maintaining transparency and compliance in its shareholder agreements[199]. Shareholder Rights and Commitments - The company will disclose any failure to fulfill commitments and provide compensatory measures to protect shareholder interests[129]. - The company has established a profit distribution policy in accordance with relevant laws and regulations, which will be strictly followed after the IPO[162]. - The controlling shareholder, Sun Hongjun, guarantees that the IPO prospectus does not contain false statements or omissions, and will repurchase shares if any issues are identified[164]. - The company commits to maintaining the rights and interests of all shareholders and will not transfer benefits to other entities or individuals under unfair conditions[161]. - The company has outlined specific conditions under which shareholders cannot reduce their holdings, particularly during legal investigations[184]. Investor Relations and Communication - The company actively engages with investors through various communication channels, improving transparency and governance[118]. - The company has established multiple effective communication channels with investors, including regular reports, annual report briefings, and various online and offline engagement activities[145]. - The company has set up an investor relations section on its official website to facilitate information dissemination and investor engagement[144]. - The company is committed to timely and accurate information disclosure, adhering to relevant laws and regulations to protect the rights of investors and stakeholders[146]. - The company emphasizes the importance of investor feedback and aims to maintain an open dialogue with market participants[145]. Risk Management and Safety - The company conducted IT disaster recovery drills focusing on network resilience and data security, enhancing business continuity measures[114]. - The company has conducted large-scale fire drills to improve employee safety awareness and emergency response capabilities[114]. - The company has implemented a robust data security framework to support its digital transformation initiatives[122]. Stock Incentive Plans and Share Repurchase - The company plans to implement stock incentives linked to the execution of its return measures[161]. - The company will not allow any share transfers during investigations by regulatory bodies or if the company is under significant legal scrutiny[184]. - The company will implement stock repurchase measures if the weighted average price of its shares falls below the audited net asset value per share for the previous fiscal year for 20 consecutive trading days[191]. - The total amount used for share repurchase will not exceed the net proceeds from the company's initial public offering[192]. - The company will not repurchase more than 2% of its total share capital in a single repurchase transaction, with a maximum of RMB 20 million per transaction[192].

关于上海艾为电子技术股份有限公司 关于上海艾为电子技术股份有限公司 2023 年度募集资金存放与使用情况 专项报告的鉴证报告 二○二三年度 2023 年度募集资金存放与使用情况 专项报告的鉴证报告 （2023 年 01 月 01 日至 2023 年 12 月 31 日止） | | | 目录 | 页次 | | --- | --- | --- | --- | | 一、 | 鉴证报告 | | 1-2 | | 二、 | 2023 | 年度募集资金存放与使用情况专项报告 | 1-8 | | 三、 | 附表 | 1：募集资金使用情况对照表 | 1-2 | | | 附表 | 2：变更募集资金投资项目情况表 | 3 | 一、董事会的责任 艾为电子董事会的责任是按照中国证券监督管理委员会《上市公 司监管指引第2号——上市公司募集资金管理和使用的监管要求 （2022年修订）》（证监会公告〔2022〕15号）、《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》以及《上海证券 交易所上市公司自律监管指南第1号——公告格式》的相关规定编制 募集资金专项报告。这种责任包括设计、执行和维护与募集资金专项 报告编制相关的内部控 ...

证券代码：688798 证券简称：艾为电子 公告编号：2024-023 上海艾为电子技术股份有限公司 关于召开 2023 年年度股东大会的通知 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： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2023 年年度股东大会 召开日期时间：2024 年 5 月 7 日 15 点 00 分 召开地点：上海市闵行区秀文路 908 号 B 座 15 层 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 5 月 7 日 至 2024 年 5 月 7 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 股东大会召开日期：2024年5月7日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 二、 会议审议事项 本次股东大会审议议案及投票股东类型 | 序号 | 议案名称 | 投票股东类型 | | --- | --- | --- | | | | 股股东 A | ...

证券代码：688798 证券简称：艾为电子 公告编号：2024-020 上海艾为电子技术股份有限公司 关于作废 2022 年限制性股票激励计划 部分已授予但尚未归属的限制性股票的公告 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。 上海艾为电子技术股份有限公司（以下简称"公司"）于2024年4月8日召开 的第四届董事会第二次会议、第四届监事会第二次会议，审议通过了《关于作废 2022年限制性股票激励计划部分已授予但尚未归属的限制性股票的议案》，根据 公司《2022年限制性股票激励计划（草案）》（以下简称"《激励计划》"或"本激 励计划"）《2022年限制性股票激励计划实施考核管理办法》（以下简称"《考核 管理办法》"）的规定和公司2023年第一次临时股东大会的授权，公司董事会同意 作废部分已授予但尚未归属的限制性股票共计3,979,772股。现将有关事项说明如 下： 一、本次限制性股票授予已履行的决策程序和信息披露情况 （三）2022 年 12 月 24 日至 2023 年 1 月 2 日。公司对本激励计划拟首次授 予激励 ...

上海艾为电子技术股份有限公司 内部控制审计报告 二○二三年度 上海艾为电子技术股份有限公司 内部控制审计报告 （2023 年 01 月 01 日至 2023 年 12 月 31 日止） 一、 企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企 业内部控制评价指引》的规定，建立健全和有效实施内部控制，并评 价其有效性是艾为电子董事会的责任。 目录 页次 一、 内部控制审计报告 1-2 上海艾为电子技术股份有限公司 内部控制审计报告 信会师报字[2024]第 ZA10813 号 上海艾为电子技术股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相 关要求，我们审计了上海艾为电子技术股份有限公司（以下简称艾为 电子）2023 年 12 月 31 日的财务报告内部控制的有效性。 二、 注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的 有效性发表审计意见，并对注意到的非财务报告内部控制的重大缺陷 进行披露。 内控审计报告 第1页 三、 内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。 此外，由于情况的变化 ...

上海艾为电子技术股份有限公司董事会 2024 年 4 月 8 日 根据证监会《上市公司独立董事管理办法》《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》等相关要求，上海艾为电子技术股份有限公司（以下简称"公司"） 董事会，就公司独立董事马莉黛女士、胡改蓉女士的独立性情况进行评估并 出具如下专项意见： 经核查公司独立董事马莉黛女士、胡改蓉女士的兼职、任职情况以及其 签署的独立性自查情况报告，上述人员除在公司担任独立董事外，不存在在 公司任职以及在公司主要股东单位任职的情形，与公司以及主要股东之间 不存在利害关系、重大业务往来或其他可能妨碍其独立性的关系。因此，董 事会认为公司独立董事符合《上市公司独立董事管理办法》《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》中对独立董事独立 性的相关要求。 上海艾为电子技术股份有限公司董事会 关于独立董事独立性情况评估的专项报告 ...