证券代码：688800 证券简称：瑞可达 公告编号：2025-048 苏州瑞可达连接系统股份有限公司 关于使用部分闲置自有资金进行现金管理的公告 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。 （二）投资产品品种 公司将按照相关规定严格控制风险，使用部分闲置自有资金投资安全性高、 流动性好的投资产品（包括但不限于协定性存款、结构性存款、定期存款、通知 存款、大额存单等），且该等现金管理产品不得用于质押，不用于以证券投资为 目的的投资行为。 苏州瑞可达连接系统股份有限公司（以下简称"公司"）于2025年8月28日召 开第四届董事会第二十三次会议和第四届监事会第二十一次会议，审议通过了 《关于使用部分闲置自有资金进行现金管理的议案》，同意公司在确保不影响公 司正常业务开展的情况下，使用最高额不超过人民币2.00亿元（含2.00亿元）的 闲置自有资金进行现金管理。 投资安全性高、流动性好的投资产品（包括但不限于协定性存款、结构性存 款、定期存款、通知存款、大额存单等）。在上述额度内，资金可以滚动使用， 使用期限为董事会审议通过之 ...

苏州瑞可达连接系统股份有限公司 2025 年"提质增效重回报"行动方案的半年度评估 报告 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。 苏州瑞可达连接系统股份有限公司（以下简称"公司"或"瑞可达"）为践 行"以投资者为本"的发展理念，维护公司全体股东利益，助力市场信心提振、 资本市场稳定和经济高质量发展，公司于 2025 年 4 月 15 日发布《2025 年"提 质增效重回报"行动方案的公告》（以下简称"行动方案"）。 公司围绕产业升级扩能及基地建设的战略核心，加快推动苏州第二工厂"新 能源汽车关键零部件项目"、"研发中心建设"募投项目建设，项目按计划推进 中，基建工作进展顺利，苏州第二工厂封顶，现进入验收装修阶段，项目建成投 产后，有利于公司新能源业务及研发实力进一步提升。 二、持续加强研发投入，加速创新驱动发展 公司长期以来高度重视研发创新，将其作为保持市场竞争力的核心动力。公 司已组建了较为完整全面的研发团队，建立起稳定的研发和质量保障体系。 2025 年上半年，公司投入研发经费 6,980.68 万元；不遗余力 ...

Market Performance - The other electronic sector increased by 2.36% compared to the previous trading day, with Ying Tang Zhi Kong leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Top Gainers - Ying Tang Zhi Kong (300131) closed at 9.88, up 8.21% with a trading volume of 974,500 shares and a transaction value of 922 million [1] - Ying Fang Wei (000670) closed at 9.79, up 7.46% with a trading volume of 1,952,300 shares and a transaction value of 1.871 billion [1] - Rui Ke Da (688800) closed at 78.06, up 7.31% with a trading volume of 197,200 shares and a transaction value of 1.482 billion [1] Market Capital Flow - The other electronic sector experienced a net outflow of 428 million from institutional investors, while retail investors saw a net inflow of 648 million [2] - The top stocks by net inflow from retail investors included Chuang Yi Tong (300991) with a net inflow of 25.91 million [3] Individual Stock Performance - Rui Ke Da (688800) had a net inflow of 202 million from institutional investors, representing 13.66% of its total trading volume [3] - Ying Fang Wei (000670) saw a net inflow of 84.63 million from institutional investors, accounting for 4.52% of its trading volume [3] - Ying Tang Zhi Kong (300131) had a net inflow of 56.73 million from institutional investors, which is 6.15% of its trading volume [3]

Market Overview - The other electronic sector experienced a decline of 1.48% on August 26, with Ruikeda leading the drop [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] Stock Performance - Notable gainers in the other electronic sector included: - Shannon Chip Creation (300475) with a closing price of 43.51, up 6.85% and a trading volume of 441,000 shares, totaling 1.893 billion yuan [1] - Baibang Technology (300736) closed at 13.18, up 5.02% with a trading volume of 149,600 shares, totaling 196 million yuan [1] - ST Xinya (002388) closed at 5.12, up 4.28% with a trading volume of 187,600 shares, totaling 94.5423 million yuan [1] Capital Flow - The other electronic sector saw a net outflow of 1.024 billion yuan from institutional investors, while retail investors had a net inflow of 968 million yuan [2] - The capital flow for specific stocks showed: - Shannon Chip Creation had a net inflow of 230 million yuan from institutional investors, but a net outflow of 125 million yuan from retail investors [3] - Igor (002922) had a net inflow of 23.8213 million yuan from institutional investors, but a net outflow of 20.1470 million yuan from retail investors [3]

Core Viewpoint - The stock of Suzhou Ruikeda Connection System Co., Ltd. has shown significant volatility and growth, with a year-to-date increase of 92.70% as of August 25, 2023, despite a recent decline in the last five trading days [1] Group 1: Stock Performance - As of August 25, 2023, Ruikeda's stock price reached 73.86 CNY per share, with a market capitalization of 15.191 billion CNY [1] - The stock has experienced a 5.10% decline over the last five trading days, but a 47.90% increase over the last 20 days and a 91.35% increase over the last 60 days [1] - The company has appeared on the "龙虎榜" (a stock market leaderboard) four times this year, with the most recent appearance on August 4 [1] Group 2: Financial Performance - For the first quarter of 2025, Ruikeda reported a revenue of 761 million CNY, representing a year-on-year growth of 64.66% [2] - The net profit attributable to shareholders for the same period was approximately 75.61 million CNY, reflecting an increase of 81.36% year-on-year [2] Group 3: Shareholder and Dividend Information - Since its A-share listing, Ruikeda has distributed a total of 164 million CNY in dividends, with 130 million CNY distributed over the past three years [3] - As of March 31, 2025, the number of shareholders increased by 22.94% to 12,900, while the average number of circulating shares per person decreased by 18.66% to 12,254 shares [2][3] - Notable changes in institutional holdings include Hong Kong Central Clearing Limited becoming the fifth-largest shareholder, increasing its holdings by 125.17 million shares [3]

Group 1 - Zhongheng Electric and Kangsong shares hit the daily limit down [1] - Ruikeda shares fell over 10% [1] - Oulutong shares also dropped over 10% [1] - Xinyi Technology, Shenghong Technology, Feiling Kesi, Magmet, and Tianfu Communication all experienced declines of over 6% [1]

证券之星消息，8月15日其他电子板块较上一交易日上涨2.94%，可立克领涨。当日上证指数报收于 3696.77，上涨0.83%。深证成指报收于11634.67，上涨1.6%。其他电子板块个股涨跌见下表： 从资金流向上来看，当日其他电子板块主力资金净流入3.68亿元，游资资金净流出2.84亿元，散户资金 净流出8400.18万元。其他电子板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002782 | 可立克 | 18.00 | 10.02% | 40.11万 | | 7.12亿 | | 688800 | 瑞可达 | 77.80 | 9.89% | 23.52万 | | 17.61亿 | | 600353 | 旭光电子 | 16.28 | 7.32% | 95.52万 | | 14.92 乙 | | 002885 | 京泉华 | 16 ...

天眼查商业履历信息显示，苏州瑞可达连接系统股份有限公司，成立于2006年，位于苏州市，是一家以 从事计算机、通信和其他电子设备制造业为主的企业。企业注册资本20567.4335万人民币，实缴资本 10800万人民币。公司法定代表人为吴世均。 通过天眼查大数据分析，苏州瑞可达连接系统股份有限公司共对外投资了15家企业，参与招投标项目30 次，知识产权方面有商标信息11条，专利信息250条，此外企业还拥有行政许可16个。 来源：金融界 金融界消息 截至2025年8月13日收盘，瑞可达（688800）报收于71.59元，上涨4.66%，换手率11.01%， 成交量22.64万手，成交金额15.89亿元。 资金流向方面，今日主力资金净流入1.49亿元，占比成交额9.4%。其中，超大单净流入9626.87万元、 占成交额6.06%，大单净流入5319.26万元、占成交额3.35%，中单净流出流出3373.64万元、占成交额 2.12%，小单净流出11572.49万元、占成交额7.28%。 瑞可达最新一期业绩显示，截至2025一季报，公司营业总收入7.61亿元、同比增长64.66%，归属净利润 7560.89万元，同比增 ...

Core Viewpoint - The global AEC market is experiencing significant growth, with demand projected to reach 6.5 million units by 2025, up from 5.5 million units previously estimated, driven primarily by increased demand from Nvidia and AWS [1] Market Demand and Customer Breakdown - By 2026, global AEC demand is expected to rise to the tens of millions, with major clients including Amazon, Microsoft, Meta, and Google, primarily for 800G standard products [2] - Specific customer demand estimates for 2026 include: Google increasing from 300,000 to 600,000-800,000 units, AWS growing over 40% from 2.5 million units, and Meta's demand around 1.3 million units [2] Pricing and Profit Margins - Nvidia's pricing for 400G AEC is $140 per unit with a 40% gross margin, while 800G is priced at $230 with a 43% margin; Meta's pricing exceeds $270 with margins over 50% [3] - Marvell chips are approximately 20% cheaper than Credo chips, but Credo offers better performance and signal integrity [3] Technical Comparisons - AEC is more cost-effective than AOC, with AEC costing about 30% less and being 1/7 the size of DAC for the same transmission rate [4] - The longest transmission distance for AEC is currently 7 meters, with potential improvements to 100 meters under development [4] Cost Structure and Production Capacity - In 800G AEC, retimer components account for 45%-50% of costs, with cables at 20% and connectors at 25%; costs are expected to decrease by less than 15% next year [5] - The total production value for the company is nearing $5 billion, with significant contributions from overseas factories [6] Other Business Segments - The company's traditional business is projected to generate around $2.7 billion this year, with a 35% growth expected next year, driven by overseas clients [7] - The power line business has entered Nvidia's supply chain, with expected revenues of $700 million to $800 million next year [7] Competitive Landscape - The company utilizes Marvell chips, while competitors like Bochuang use different wiring solutions, allowing for better cost management and profit margins [8] - AEC's application in ASICs is currently lower than in GPUs, with a ratio of 1:0.5 in Meta's Minerva project [8]

Core Viewpoint - The company, Ruikeda, is attempting to address concerns regarding its 1 billion yuan convertible bond issuance by outlining its fundraising plans and projected revenue growth, despite facing significant challenges related to high capacity utilization and debt levels [1][2]. Group 1: Fundraising and Project Allocation - Ruikeda plans to allocate the raised funds to three main areas: high-frequency and high-speed connection systems (500 million yuan), smart energy connection system upgrades (200 million yuan), and working capital support (300 million yuan), with projected annual revenue increase of 1.652 billion yuan and net profit of 126 million yuan post-project completion [1]. - The company has received orders from European automotive companies for energy storage and several high-frequency connector projects, although it has not disclosed specific client names or contract details, raising concerns about market expansion uncertainties [2]. Group 2: Capacity Utilization and Expansion Risks - The company's capacity utilization rates for its new energy connectors are reported at 122.15% and 135.33% for 2024 and Q1 2025, respectively, exceeding industry safety thresholds, which raises questions about the feasibility of absorbing the expanded capacity [2]. - Regulatory scrutiny highlights the risk of overcapacity, questioning whether the anticipated demand will match the increased production capabilities post-expansion [2]. Group 3: Financial Health and Debt Concerns - Over the past four years, the company's debt-to-asset ratio has surged from 35.08% to 51.13%, with short-term borrowings increasing by 61.49% to 549 million yuan in Q1 2025, and non-current liabilities due within a year skyrocketing by 809.89% to 134 million yuan [3]. - The operating cash flow is projected to plummet by 65.18% to 57.16 million yuan in 2024, with a cash-to-short-term debt ratio of only 0.5, indicating a precarious debt repayment capacity [3]. Group 4: Profitability and Cost Management - Despite a revenue increase of 55.29% to 2.415 billion yuan in 2024, net profit only grew by 28.11% to 175 million yuan, with a decline in gross margin by 2.75 percentage points to 21.79%, attributed to raw material price fluctuations and competitive pricing strategies [4]. - The company faces significant risks related to accounts receivable, with overdue amounts rising, which could impact actual profitability [4]. Group 5: Regulatory and Technical Concerns - Regulatory bodies have raised concerns about the delays in previously funded projects, such as the "key components for new energy vehicles" and "R&D center projects," which are now postponed until September 2025 [4]. - The company's reliance on Shanghai Jiao Tong University for core technology raises questions about its technological independence, as faculty members hold a stake in the company, leading to potential risks if the partnership changes [4].