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 12 月 3 日-5 日） | --- | --- | --- | |-----------------------|----------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

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 | --- | --- | --- | |-----------------------|-------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

关于处置部分金融资产的公告 上海艾为电子技术股份有限公司 证券代码：688798 证券简称：艾为电子 公告编号：2024-052 本次交易标的在公司财务报表中列示为"交易性金融资产"，该金融资产按 照公允价值计量且其变动计入当期损益。本次交易累积产生收益 2,407.24 万元 （扣除所得税等影响），包括（1）2022 年度至 2023 年度公司已确认公允价值变 动净收益 1,152.39 万元（扣除所得税等影响），并已经体现在公司 2022 年度及 2023 年度经审计财务报表中；（2）2024 年前三季度已确认公允价值变动净损失 31.18 万元（扣除所得税等影响），并已经体现在公司 2024 年前三季度报告财务 报表中；（3）本次处置收益金额 1,286.03 万元（扣除所得税等影响），占公司 最近一期（2023 年度）经审计的归属于上市公司股东的净利润的比例为 25.21%。 此次处置该部分股票将会对公司 2024 年损益产生积极影响。 以上数据为初步核算结果，公司将根据《企业会计准则》等有关规定对该交 易进行会计处理，具体以公司 2024 年度审计报告为准，敬请广大投资者注意投 资风险。 公司处置部 ...

Group 1: Financial Performance - The company's operating revenue for the first three quarters of 2024 was approximately 2.366 billion CNY, representing a year-on-year growth of about 32.71% [1] - The gross profit margin for Q3 2024 was 32.92%, an increase of 10.8 percentage points year-on-year and 4.02 percentage points quarter-on-quarter [2] - The net profit attributable to shareholders for Q3 2024 was 86.43 million CNY, achieving profitability compared to the previous year, with a quarter-on-quarter growth of 55.27% [2] - For the first nine months of 2024, the net profit attributable to shareholders was 177.91 million CNY, also achieving profitability compared to the previous year [2] Group 2: Business Growth Factors - The growth in operating revenue was driven by stable growth in the consumer electronics, industrial interconnection, and automotive sectors, along with an increase in market share for new products [1] - The improvement in gross profit margin was attributed to the continuous growth of new and high-value products, accelerated iteration of old products, and cost reduction efforts [2] - The company has expanded its client base to include major brands such as Xiaomi, OPPO, vivo, and Samsung, among others, in various sectors including AIoT and automotive [1] Group 3: Cash Flow and Cost Management - The net cash flow from operating activities increased by 60.44% from the beginning of 2024 to the end of Q3 2024, primarily due to increased cash receipts from sales and reduced operating expenses [2] - The company has implemented management reforms, including digitalization of the R&D process, which has led to a reduction in labor and engineering development costs compared to the previous year [2]

Investment Rating - The report maintains an "Overweight" rating for the company [1] Core Views - The company achieved a revenue of 2.366 billion yuan in the first three quarters of 2024, a YoY increase of 32.71%, and a net profit attributable to the parent company of 178 million yuan, turning from a loss to a profit [2] - In Q3 2024, the company's gross margin reached 32.92%, a QoQ increase of 4.02 percentage points, marking the fourth consecutive quarter of improvement [3] - The company has formed a platform-based model with three product lines: high-performance mixed-signal chips, power management, and signal chain, and is steadily advancing more comprehensive systematic innovation solutions [4] - Long-term growth is expected as the company continues to enhance its product matrix and expand into high-margin areas such as industrial internet and automotive electronics [4] Financial Performance - The company's gross margin for the first three quarters of 2024 was 29.69%, with Q3 gross margin at 32.92%, showing strong QoQ improvement [3] - Total operating expenses for Q3 2024 were 208 million yuan, with R&D expenses at 135 million yuan, a QoQ increase of 6.30% [3] - The company's revenue for 2024/2025/2026 is forecasted to be 3.149 billion yuan, 3.896 billion yuan, and 4.797 billion yuan, respectively, with YoY growth rates of 24.4%, 23.7%, and 23.1% [5] - Net profit attributable to the parent company for 2024/2025/2026 is expected to be 244 million yuan, 465 million yuan, and 718 million yuan, with YoY growth rates of 379.0%, 90.2%, and 54.6% [5] Product and Market Strategy - The company has a comprehensive audio solution integrating hardware chips and software algorithms, expanding into mid-to-high power areas such as notebooks and automotive audio [4] - The company's Haptic hardware and TikTap tactile feedback system have a strong first-mover advantage, with continuous product iteration [4] - The company's OIS chips and anti-shake algorithms for high-precision optical image stabilization are leading in progress and are expected to see significant growth in 2024 [4] Valuation and Ratios - The company's PE ratios for 2024/2025/2026 are 61.6x, 32.4x, and 21.0x, respectively, based on the closing price on November 4, 2024 [5] - The company's ROE is expected to improve from 6.3% in 2024 to 14.5% in 2026 [6] - The company's gross margin is forecasted to increase from 30.7% in 2024 to 35.6% in 2026 [6]

上海市锦天城律师事务所 关于上海艾为电子技术股份有限公司 2024 年第三次临时股东大会 的 法律意见书 上海市锦天城律师事务所 地址：上海市浦东新区银城中路 501 号上海中心大厦 9、11、12 楼 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 临时股东大会的法律意见书 致：上海艾为电子技术股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受上海艾为电子技术股份 有限公司（以下简称"公司"）委托，就公司召开 2024 年第三次临时股东大会 （以下简称"本次股东大会"）的有关事宜，根据《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》等法律、法规、规章和其他规 范性文件以及《上海艾为电子技术股份有限公司章程》（以下简称《公司章程》） 的有关规定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定及本法律意 见出具日以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责 和诚实信用原则，对本次股东大会 ...

证券代码：688798 证券简称：艾为电子 公告编号：2024-051 上海艾为电子技术股份有限公司 2024 年第三次临时股东大会决议公告 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 （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： | 1、出席会议的股东和代理人人数 | 143 | | --- | --- | | 普通股股东人数 | 143 | | 2、出席会议的股东所持有的表决权数量 | 158,902,298 | | 普通股股东所持有表决权数量 | 158,902,298 | | 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 | 68.5835 | | 比例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例 | 68.5835 | | （%） | | （四） 表决方式是否符合《公司法》及公司章程的规定，大会主持情况等。 本次会议由董事会召集，会议采取现场投票和网络投票相 ...

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 11 月 1 日） | --- | --- | --- | |---------------------------|---------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The report maintains a "Recommended" rating for the company [2][4]. Core Views - The company has shown significant improvement in profitability, with a revenue of 2.366 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 32.71%. The net profit attributable to shareholders reached 178 million yuan, marking a turnaround from losses [2]. - The gross margin has been continuously improving, with a third-quarter gross margin of 32.92%, up 10.8 percentage points year-on-year and 4.02 percentage points quarter-on-quarter. This reflects the company's effective cost management and operational efficiency [2]. - The product matrix is expanding, with over 1,300 product models covering various fields such as consumer electronics, IoT, industrial, and automotive applications. New product launches in high-performance mixed-signal chips, power management chips, and signal chain chips are expected to drive future growth [2]. Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 2.366 billion yuan, with a net profit of 178 million yuan, and a non-recurring net profit of 136 million yuan, all showing significant year-on-year improvements [2]. - The third quarter alone saw a revenue of 785 million yuan, a year-on-year increase of 1.35%, and a net profit of 86 million yuan, reflecting a 55.27% quarter-on-quarter growth [2]. - The projected net profits for 2024, 2025, and 2026 are estimated at 249 million yuan, 512 million yuan, and 764 million yuan, respectively, with corresponding price-to-earnings ratios of 59, 29, and 19 [2][3].

Investment Rating - The investment rating for the company is "Outperform the Market" [3][18]. Core Views - The company reported a revenue growth of 33% year-on-year for the first three quarters of 2024, with a return to profitability, achieving a net profit of 178 million yuan, a significant increase of 265% year-on-year [1][5]. - The gross margin has improved for four consecutive quarters, reaching 29.69% for the first three quarters of 2024, up 4.6 percentage points from the previous year [1][5]. - The company is focusing on new products and markets, with a stable growth in consumer electronics, industrial interconnection, and automotive sectors, leading to an increase in market share [1][5]. Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 2.366 billion yuan, with a net profit of 178 million yuan and a net profit margin of 7.52% [1][5]. - The third quarter of 2024 saw a revenue of 785 million yuan, with a year-on-year growth of 1.35% and a net profit of 86 million yuan, reflecting a year-on-year increase of 325% [1][5]. - The company has reduced R&D expenses by 15.56% to 388 million yuan in the first three quarters of 2024, with a R&D expense ratio of 16.40% [1][7]. Revenue and Profit Forecast - The company forecasts revenues of 3.149 billion yuan for 2024, with a year-on-year growth of 24.4%, and net profits of 241 million yuan, representing a growth of 372.8% [2][8]. - The projected earnings per share (EPS) for 2024 is 1.04 yuan, with a price-to-earnings (P/E) ratio of 64.7 [2][8]. - The company expects to maintain a gross margin of 30.3% in 2024, increasing to 33.15% by 2026 [2][8]. Product Segmentation - High-performance mixed-signal chips accounted for 48% of revenue in the first half of 2024, with a revenue of 756 million yuan, showing a year-on-year growth of 52.9% [5][6]. - Power management chips contributed 33% of revenue, with a revenue of 522 million yuan, reflecting a year-on-year increase of 44.8% [6]. - Signal chain chips saw a significant growth of 118% year-on-year, contributing 19% to the revenue with 302 million yuan [6].