Investment Rating - The report maintains a "Buy" investment rating for the company [6] Core Views - The company has experienced rapid revenue growth, with stable improvements in profitability. In Q3 2024, the company achieved a revenue of 785 million yuan, a year-on-year increase of 1.35%, and turned a profit with a net profit attributable to shareholders of 86 million yuan, marking a significant turnaround [2][3] - The company's gross margin for Q3 2024 was 32.92%, reflecting a year-on-year increase of 10.8 percentage points and a quarter-on-quarter increase of 4.02 percentage points, indicating a consistent improvement in profitability over four consecutive quarters [3] - The company has established a strong position in the high-performance mixed-signal chip sector, with successful product launches in audio solutions and automotive applications, contributing to revenue growth [4] Summary by Sections Revenue and Profitability - For the first three quarters of 2024, the company maintained stable growth in its consumer electronics, industrial internet, and automotive sectors, leading to significant performance improvements. The net profit attributable to shareholders in Q3 2024 increased by 55.27% quarter-on-quarter [3] - The company forecasts revenues of 3.144 billion, 3.849 billion, and 4.634 billion yuan for 2024, 2025, and 2026 respectively, with corresponding EPS of 0.83, 1.51, and 2.29 yuan [6][8] Product Development - The company has successfully launched multiple products in the audio amplifier and camera motor driver sectors, achieving significant market penetration and production scale. Notably, it is the first to achieve mass production of optical image stabilization (OIS) technology [4] - The company is expanding its product offerings in power management and signal chain chips, with significant production increases in DCDC and LDO products across various applications [4] Financial Projections - The report projects a revenue growth rate of 24.2% for 2024, with a substantial increase in net profit expected to reach 192 million yuan, reflecting a growth rate of 276.6% compared to the previous year [8] - The company's gross margin is expected to improve to 35.6% in 2024, with a net profit margin projected to reach 6.1% [8]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown significant quarter-on-quarter profit recovery in Q3 2024, with all three major business segments contributing positively [2][3] - The company achieved a revenue of 2.366 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 32.71% [2] - The net profit attributable to shareholders reached 178 million yuan in Q3 2024, a year-on-year increase of 125 million yuan and a quarter-on-quarter increase of 55.27% [2] - The company is focusing on continuous technological innovation and expanding its product categories into AIoT and automotive sectors, enhancing its customer base and market depth [2][3] - The company has optimized its R&D, supply chain, and quality management systems, leading to improved management and operational efficiency [3] Financial Summary - For Q3 2024, the company reported a revenue of 785 million yuan, a year-on-year increase of 1.35% and a quarter-on-quarter decrease of 2.62% [2] - The gross profit margin for Q3 2024 was 32.92%, up 10.79 percentage points year-on-year and 4.01 percentage points quarter-on-quarter [2] - The net profit margin for Q3 2024 was 11.01%, reflecting a year-on-year increase of 15.97 percentage points and a quarter-on-quarter increase of 4.11 percentage points [2] - The company’s R&D investment in Q3 2024 was 135 million yuan, a year-on-year increase of 2.68% and a quarter-on-quarter increase of 6.30% [3] - The projected net profits for 2024-2026 are 191 million, 348 million, and 528 million yuan respectively, with corresponding P/E ratios of 85.8, 47.2, and 31.0 [2][4]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The gross margin continues to improve, and the revenue structure is increasingly optimized [1] - The company reported a revenue of 2.37 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 32.7% [1] - The net profit attributable to the parent company for the first three quarters reached 180 million yuan, a significant year-on-year increase of 264.7% [1] - The company’s gross margin for Q3 2024 was 32.9%, an increase of 10.8 percentage points year-on-year and 4.0 percentage points quarter-on-quarter [1] - The company is expanding its product offerings from consumer electronics into AIoT, industrial, and automotive markets, thereby broadening its customer base and industry depth [1] Financial Performance Summary - The company’s revenue is projected to grow from 2.53 billion yuan in 2023 to 4.92 billion yuan in 2026, with a compound annual growth rate (CAGR) of approximately 22.7% [2][4] - The net profit attributable to the parent company is expected to increase from 51 million yuan in 2023 to 607 million yuan in 2026, reflecting a CAGR of 51.8% [2][4] - The gross margin is forecasted to improve from 24.8% in 2023 to 32.1% in 2026 [2][4] - The earnings per share (EPS) is anticipated to rise from 0.22 yuan in 2023 to 2.61 yuan in 2026 [2][4] Cash Flow and Investment - The operating cash flow is expected to decrease from 429 million yuan in 2023 to 272 million yuan in 2024, before recovering to 586 million yuan by 2026 [3] - The company is projected to have a net increase in cash of 434 million yuan in 2024, with further increases in subsequent years [3] Balance Sheet Overview - Total assets are expected to grow from 4.94 billion yuan in 2023 to 6.88 billion yuan in 2026 [4] - The company’s total liabilities are projected to increase from 1.31 billion yuan in 2023 to 1.96 billion yuan in 2026 [4] - The equity attributable to the parent company is forecasted to rise from 3.62 billion yuan in 2023 to 4.93 billion yuan in 2026 [4]

Financial Performance - The company's operating revenue for Q3 2024 was ¥784,663,581.24, representing a year-on-year increase of 1.35%[2] - The net profit attributable to shareholders for Q3 2024 was ¥86,427,693.29, marking a turnaround from losses, with a quarter-on-quarter growth of 55.27%[4] - 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[4] - Cumulative sales revenue for the first nine months of 2024 reached ¥2,366,112,613.27, a year-on-year increase of 32.71%[5] - The company's operating revenue increased by 32.71% year-on-year, driven by a recovering market and growing customer demand[9] - The net profit attributable to shareholders, excluding non-recurring gains and losses, turned from loss to profit, mainly due to increased operating revenue and improved profit margins[9] - The net profit for Q3 2024 was CNY 177,914,341.50, a significant increase compared to a net loss of CNY 108,036,718.48 in the same period last year, representing a turnaround in profitability[22] - Operating profit for the quarter was CNY 178,128,846.34, compared to an operating loss of CNY 155,430,389.96 in Q3 2023, indicating strong operational performance[22] - Total comprehensive income for the quarter reached CNY 188,025,036.51, compared to a total comprehensive loss of CNY 98,975,066.58 in the previous year[23] Research and Development - Research and development expenses totaled ¥135,167,041.87 in Q3 2024, accounting for 17.23% of operating revenue, an increase of 0.23 percentage points year-on-year[4] - Research and development expenses for the first three quarters of 2024 amounted to ¥388,059,859.07, down from ¥459,545,420.64 in 2023, reflecting a decrease of approximately 15.5%[21] - Research and development expenses as a percentage of operating revenue decreased by 9.37 percentage points, due to revenue growth and a reduction in R&D expenses[11] - The management is advancing digital transformation in R&D processes, which is expected to enhance operational efficiency[9] Cash Flow and Liquidity - The net cash flow from operating activities increased by 60.44% year-on-year, attributed to higher cash receipts from sales and reduced operating expenses[11] - Cash flow from operating activities amounted to CNY 290,890,192.18, up from CNY 181,313,220.79 in Q3 2023, reflecting improved cash generation[25] - The company's cash and cash equivalents as of September 30, 2024, were approximately ¥907 million, compared to ¥1.365 billion at the end of 2023[16] - The total cash and cash equivalents at the end of the period were CNY 886,314,185.16, compared to CNY 712,242,759.63 at the end of Q3 2023, indicating a stronger liquidity position[26] - The company reported a net cash outflow from investing activities of CNY -656,696,986.25, an improvement from CNY -1,113,988,185.30 in the previous year[25] Assets and Liabilities - The total assets at the end of Q3 2024 were ¥4,935,487,395.59, a slight decrease of 0.01% compared to the end of the previous year[4] - The company's total assets as of the end of the third quarter of 2024 were ¥4,935,487,395.59, slightly down from ¥4,935,797,732.71 at the end of the previous quarter[20] - The total liabilities of the company decreased to ¥1,075,083,977.73 from ¥1,313,743,818.81, showing a reduction of about 18.1%[19] - The company's total equity attributable to shareholders increased to ¥3,860,403,417.86 from ¥3,622,053,913.90, reflecting a growth of approximately 6.6%[20] Market and Growth Strategy - The company is focusing on enhancing operational quality and efficiency through digital transformation in R&D and management[5] - New products and market segments are contributing to stable growth in the consumer electronics, industrial internet, and automotive sectors[5] - The company is continuously expanding its product categories and market areas, contributing to revenue growth[9] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[27] Shareholder Information - There were no significant changes in the top ten shareholders or their shareholding status during the reporting period[15]

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会议资料 证券代码：688798 证券简称：艾为电子 上海艾为电子技术股份有限公司 目录 | 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会议须知 3 | | --- | | 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会议议程 5 | | 议案一《关于公司<2024 年员工持股计划（草案）>及其摘要的议案》 7 | | 议案二《关于公司<2024 年员工持股计划管理办法>的议案》 8 | | 议案三《关于提请股东大会授权董事会办理公司 2024 年员工持股计划相关事宜 | | 的议案》 9 | 2 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会议资料 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会议须知 Shanghai Awinic Technology Co., Ltd. 2024 年第三次临时股东大会会议资料 二〇二四年十一月 1 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会议资料 为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 ...

证券代码：688798 证券简称：艾为电子 公告编号：2024-050 上海艾为电子技术股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 ● 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/） 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 11 月 04 日(星期一) 下午 15:00-16:30 ● 会议召开方式：上证路演中心视频直播和网络互动 ● 投资者可于 2024 年 10 月 28 日(星期一) 至 11 月 01 日(星期五)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 securities@awinic.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。 上海艾为电子技术股份有限公司（以下简称"公司"）将于 2024 年 10 月 30 日发布公司 ...

证券代码：688798 证券简称：艾为电子 公告编号：2024-049 上海艾为电子技术股份有限公司 2024 年第二次职工代表大会决议公告 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 10 月 11 日 以现场方式在公司会议室召开 2024 年第二次职工代表大会，就公司拟实施的 2024 年员工持股计划征求公司职工代表意见。本次会议的召集、召开符合《中华人民 共和国公司法》（以下简称"《公司法》"）的有关规定，经与会职工代表充分讨论， 形成如下决议： 为了进一步建立、健全公司长效激励机制，吸引和留住优秀人才，充分调动 公司核心团队的积极性，有效地将股东利益、公司利益和核心团队个人利益结合 在一起，使各方共同关注公司的长远发展，在充分保障股东利益的前提下，按照 激励与约束对等的原则，公司依据《公司法》《中华人民共和国证券法》《关于上 市公司实施员工持股计划试点的指导意见》《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 ...

证券代码：688798 证券简称：艾为电子 3、若员工认购资金不足，本次员工持股计划存在低于预计规模的风险。 上海艾为电子技术股份有限公司 2024 年员工持股计划 （草案）摘要 二〇二四年十月 声明 本公司及董事会全体成员保证本次员工持股计划内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 1 风险提示 1、公司2024年员工持股计划须经公司股东大会批准通过后方可实施，本次员工 持股计划能否获得公司股东大会批准，存在不确定性。 2、有关本次员工持股计划的具体资金来源、出资比例、实施方案等初步结果，能 否完成实施，存在不确定性。 5、本次员工持股计划实施后，公司全部有效的员工持股计划所持有的股票总数 累计不得超过公司股本总额的10%，单个员工所持持股计划份额所对应的股票总数累 计不得超过公司股本总额的1%。标的股票总数不包括持有人在公司首次公开发行股 票上市前获得的股份、通过二级市场自行购买及通过股权激励获得的股份。 6、本员工持股计划的股份来源为公司回购专用证券账户已回购艾为电子A股普通 股股票。本员工持股计划经公司股东大会审议通过后，将通过非交易过户等法律法规 允许的方式获得公司回购专用证券账 ...

证券代码：688798 证券简称：艾为电子 上海艾为电子技术股份有限公司 2024 年员工持股计划 （草案） 二〇二四年十月 声明 本公司及董事会全体成员保证本次员工持股计划内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 1 风险提示 1、公司2024年员工持股计划须经公司股东大会批准通过后方可实施，本次员工 持股计划能否获得公司股东大会批准，存在不确定性。 2、有关本次员工持股计划的具体资金来源、出资比例、实施方案等初步结果，能 否完成实施，存在不确定性。 3、若员工认购资金不足，本次员工持股计划存在低于预计规模的风险。 4、公司后续将根据规定披露相关进展情况，敬请广大投资者谨慎决策，注意投 资风险。 2 特别提示 1、上海艾为电子技术股份有限公司（以下称"艾为电子"或"公司"）2024年员工持 股计划（以下称"本次员工持股计划"）系公司依据《中华人民共和国公司法》《中华 人民共和国证券法》《关于上市公司实施员工持股计划试点的指导意见》《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》等有关法律、行政法规、 规章、规范性文件和《公司章程》的规定制定。 9、存续期内，本员工持股计划 ...

上海艾为电子技术股份有限公司 监事会关于公司 2024 年员工持股计划相关事项的核查意见 上海艾为电子技术股份有限公司（以下简称"公司"）监事会依据《中华人 民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以 下简称"《证券法》"）、《关于上市公司实施员工持股计划试点的指导意见》 （以下简称"《指导意见》"）、《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》（以下简称"《自律监管指引第 1 号》"）等相关法律 法规及规范性文件和《上海艾为电子技术股份有限公司章程》的有关规定，对《上 海艾为电子技术股份有限公司 2024 年员工持股计划（草案）》（以下简称"《员 工持股计划（草案）》"）及其摘要进行了核查，发表核查意见如下： 4、本员工持股计划拟定的持有人均符合《指导意见》及其他法律法规、规 范性文件规定的条件，符合本员工持股计划规定的持有人的确定标准，其作为本 员工持股计划持有人的主体资格合法、有效，亦不存在公司以摊派、强行分配等 方式强制员工参与本员工持股计划的情形； 5、本员工持股计划的实施有利于建立和完善员工、股东的利益共享机制， 改善公司治理水平，提高职工的凝 ...