Group 1 - The company Suzhou Ruikeda Connection System Co., Ltd. has obtained a patent for "High Voltage Wire Harness Fixed Clamp for New Energy Vehicles," which was authorized on May 19, 2025, with an application date of July 2024 [1] - The patent describes a fixed clamp that includes an injection-molded fixed shell, a rotating shell, and side connecting components, designed to reduce the weight of new energy vehicles, facilitate assembly, lower production costs, and enhance vibration resistance, safety, stability, and lifespan [1] - The company has a total of 233 patent records, indicating a strong focus on innovation and intellectual property [2] Group 2 - Suzhou Ruikeda Connection System Co., Ltd. was established in 2006 and is primarily engaged in the manufacturing of computers, communications, and other electronic devices [2] - The company has a registered capital of approximately 158.42 million RMB and has made investments in 14 other enterprises [2] - The company has participated in 30 bidding projects and holds 11 trademark records along with 15 administrative licenses [2]

Group 1 - The core stock price of Ruikeda (688800) closed at 52.07 yuan on May 16, 2025, with an increase of 1.6% and a turnover rate of 2.44% [1] - The company's latest quarterly report shows total operating revenue of 761 million yuan, a year-on-year increase of 64.66%, and a net profit attributable to shareholders of 75.61 million yuan, up 81.36% year-on-year [1] - The company has a current ratio of 1.597, a quick ratio of 1.311, and a debt-to-asset ratio of 51.13% [1] Group 2 - Ruikeda has made investments in 14 companies and participated in 30 bidding projects [2] - The company holds 11 trademark registrations and 233 patents, along with 15 administrative licenses [2]

Core Viewpoint - The company aims to enhance R&D innovation, quality management, rapid response, and comprehensive solution capabilities while accelerating overseas market expansion and actively engaging in emerging fields such as AI, data centers, robotics, and low-altitude economy by 2025 [2] Financial Performance - In 2024, the company achieved a revenue of 2.415 billion yuan, a year-on-year increase of 55.29%, and a net profit attributable to shareholders of 175 million yuan, up 28.11% [2] - In Q1 2025, the company continued its growth trend with a revenue of 761 million yuan, a year-on-year increase of 64.66%, and a net profit of approximately 75.61 million yuan, up 81.36% [2] Business Segments - The new energy vehicle (NEV) sector is the core growth engine, with revenue from NEV connectors reaching 2.18 billion yuan in 2024, a year-on-year increase of 59.46% [2] - The communication sector also showed potential, with revenue from communication connectors reaching 111 million yuan in 2024, a year-on-year increase of 4.84% [3] Emerging Market Developments - The company has made significant progress in emerging markets, with foreign sales revenue reaching 386 million yuan in 2024, a year-on-year increase of 113.23% [3] - The U.S. factory has become profitable, and the Mexican factory is ramping up production, while new offices have been established in the U.S. and Germany, with plans for production bases in Europe and Southeast Asia [3] R&D Investment - R&D investment reached 147 million yuan in 2024, a year-on-year increase of 26.91%, with several technological breakthroughs achieved [3] - The company holds a total of 328 domestic and international patents, including 20 invention patents and 274 utility model patents [3] Future R&D Directions - The company will focus on four key areas: 6G and AI data center technology research, smart automotive high-speed product development, customized R&D for new NEV models, and technology reserves in robotics and medical fields [4] Industry Trends - The demand in sectors such as new energy vehicles, energy storage, and industrial robotics remains strong, while the communication and data center industries are experiencing rapid growth, creating vast opportunities for the connector market [5] - Despite intense competition in the global connector industry, the Chinese market is expected to become a core growth driver due to technological advancements and scale advantages [5]

南京市鼓楼区集庆门大街 270 号苏宁环球国际中心 43 层 电话：025-85803866 传真：025-85803680 邮编：210000 北京国枫（南京）律师事务所 关于苏州瑞可达连接系统股份有限公司 2024 年年度股东大会的 法律意见书 国枫律股字[2025]H0018 号 1 3．本所及经办律师依据《证券法》《证券法律业务管理办法》《证券法律业务执 业规则》等规定及本法律意见书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，进行了充分的核查验证，保证本法律意见所认 定的事实真实、准确、完整，所发表的结论性意见合法、准确，不存在虚假记载、误导 性陈述或者重大遗漏，并承担相应法律责任； 4．本法律意见书仅供贵公司本次会议之目的使用，不得用作任何其他用途。本所 律师同意将本法律意见书随贵公司本次会议决议一起予以公告。 本所律师根据《公司法》《证券法》《证券法律业务管理办法》《证券法律业务执 业规则》等相关法律、行政法规、规章、规范性文件的要求，按照律师行业公认的业务 标准、道德规范和勤勉尽责精神，对贵公司提供的有关文件和有关事项进行了核查和验 证，现出具法律意见如 ...

证券代码：688800 证券简称：瑞可达 公告编号：2025-031 苏州瑞可达连接系统股份有限公司 2024年年度股东大会决议公告 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。 | 1、出席会议的股东和代理人人数 | 106 | | --- | --- | | 普通股股东人数 | 106 | | 2、出席会议的股东所持有的表决权数量 | 65,723,271 | | 普通股股东所持有表决权数量 | 65,723,271 | | 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比 | 41.7251 | | 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（%） | 41.7251 | 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 （一） 股东大会召开的时间：2025 年 5 月 12 日 （二） 股东大会召开的地点：苏州市吴中区吴淞江科技产业园淞葭路 998 号 A 幢二楼 A0207 会议室 （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 ...

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company has experienced rapid revenue growth, with a reported revenue of 2.4 billion yuan in 2024, representing a year-on-year increase of 55%. The net profit attributable to shareholders reached 180 million yuan, up 28% year-on-year. For Q1 2025, revenue was 800 million yuan, reflecting a 65% year-on-year growth, and net profit was 80 million yuan, up 81% year-on-year [1][3] - The company is actively expanding its overseas production capabilities, with operational factories in the United States and Mexico. The U.S. factory has achieved rapid revenue growth and profitability, while the Mexican factory is in the ramp-up phase but is currently operating at a loss. In 2024, overseas revenue is expected to reach 220 million yuan, with new quality customers and multiple project approvals [2] - The company focuses on connector products and is continuously developing solutions for various sectors, including telecommunications, new energy vehicles, rail transportation, and medical devices. It has established partnerships with major clients in the 5.5G sector and has developed connectors for humanoid robots and liquid cooling servers [2] Financial Summary - The company forecasts net profits of 260 million yuan, 320 million yuan, and 370 million yuan for 2025, 2026, and 2027, respectively, with corresponding P/E ratios of 32, 26, and 22 times [3] - Financial indicators show a significant increase in revenue from 1.555 billion yuan in 2023 to an expected 2.994 billion yuan in 2025, with a year-on-year growth rate of 24% [4] - The latest diluted EPS is projected to be 1.65 yuan in 2025, with a net asset return rate of 11.2% [4]

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company has experienced rapid revenue growth, with a 55% year-on-year increase in 2024, reaching 2.4 billion yuan, and a 28% increase in net profit to 180 million yuan. In Q1 2025, revenue surged by 65% year-on-year to 800 million yuan, with net profit increasing by 81% to 80 million yuan [1][3] - The company is actively expanding its overseas production capabilities, with operational factories in the US and Mexico, contributing to revenue growth and new customer acquisition. The US factory has achieved profitability, while the Mexican factory is in the ramp-up phase [2] - The company is focusing on emerging market applications and has developed a range of connector products for various industries, including telecommunications and electric vehicles, positioning itself as a leader in the industry [2] Financial Summary - Revenue is projected to grow from 2.4 billion yuan in 2024 to 2.99 billion yuan in 2025, with a year-on-year growth rate of 24%. Net profit is expected to rise from 261 million yuan in 2025 to 374 million yuan in 2027, with corresponding P/E ratios of 32, 26, and 22 for the years 2025, 2026, and 2027 respectively [3][4] - The company’s gross margin for Q1 2025 was 23.7%, with a net profit margin of 10.0%, reflecting improvements in profitability despite challenges from commodity price fluctuations and increased capacity investments [1][2]

证券代码：688800 证券简称：瑞可达 公告编号：2025-030 苏州瑞可达连接系统股份有限公司 关于召开 2024 年度暨 2025 年第一季度业绩说明会的 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。 重要内容提示： 会议召开时间：2025 年 05 月 14 日（星期三）13:00-14:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 05 月 07 日（星期三）至 05 月 13 日（星期二）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 stock@recodeal.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。 苏州瑞可达连接系统股份有限公司（以下简称"公司"）已于 2025 年 4 月 15 日发布公司 2024 年年度报告，于 2025 年 4 月 29 日发布公司 20 ...

盈利能力方面，2025 年一季度公司销售毛利率 23.74%，同比下降 1.14pp，环比 提升 1.41pp，销售净利率 10.03%，同比提升 0.60pp，环比提升 1.52pp。毛利率 环比继续改善，一方面 2024 年下半年以来铜价回落使得上游原材料成本压力有 所缓解，另一方面公司也积极通过产品升级迭代、生产自动化、效率提升、工艺 改善，供应链降本以及为客户推出一站式整体解决方案等多项措施促进毛利率稳 步回升。公司积极管控费用，2025 年一季度期间费用率为 11.59%，同比下降 3.88pp。 ❑ 拟发行可转债，看好新能源智能汽车及 AI 算力机遇 投资要点 ❑ 2025Q1 公司业绩再加速，盈利能力环比继续改善 2025 年一季度，公司实现营业收入 7.61 亿元，同比增长 64.66%，归母净利润 0.76 亿元，同比增长 81.36%，扣非归母净利润 0.73 亿元，同比增长 80.12%。公 司营业收入实现快速增长，主要系新能源汽车渗透率进一步提高，公司市场占有 率进一步提升，同时美国工厂正式投入运营，生产销售较为稳定，带动公司销售 收入大幅增长。 证券研究报告 | 公司点评 | 其他电 ...

东吴证券股份有限公司 关于苏州瑞可达连接系统股份有限公司 持续督导保荐总结报告书 东吴证券股份有限公司（以下简称"东吴证券"或"保荐机构"）作为关于 苏州瑞可达连接系统股份有限公司（以下简称"瑞可达"或"公司"）首次公开 发行股票并在科创板上市以及 2022 年度向特定对象发行 A 股股票的保荐机构， 持续督导期至 2024 年 12 月 31 日止。截至目前，持续督导期已满，现根据《证 券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》《上海 证券交易所上市公司自律监管指引第 11 号——持续督导》等有关法律法规和规 范性文件的要求，出具本持续督导保荐总结报告书。 一、保荐机构及保荐代表人承诺 1、保荐总结报告书和证明文件及其相关资料的内容不存在虚假记载、误导 性陈述或重大遗漏，保荐机构及保荐代表人对其真实性、准确性、完整性承担 法律责任。 2、保荐机构及保荐代表人自愿接受中国证监会对保荐总结报告书相关事项 进行的任何质询和调查。 3、保荐机构及保荐代表人自愿接受中国证监会按照《证券发行上市保荐业 务管理办法》的有关规定采取的监管措施。 | 名称 | 东吴证券股份有限公司 | | | --- ...