本次调整前： 证券代码：000988 证券简称：华工科技 公告编号：2024-37 华工科技产业股份有限公司 关于控股股东及其一致行动人权益变动的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 华工科技产业股份有限公司（以下简称"华工科技"或"公司"）控股股东 武汉国恒科技投资基金合伙企业(有限合伙)（以下简称"国恒基金"）本次发生 的权益变动，仅为国恒基金合伙人之间的基金份额转让，公司控股股东及实际控 制人未发生变化，控股股东国恒基金持股比例、持股数量和表决权未发生变化， 公司控制权未发生变化，不触及要约收购。 一、控股股东权益变动的基本情况 华工科技于 2024 年 9 月 18 日收到公司控股股东国恒基金发来的《关于国恒 基金合伙人出资份额调整及部分合伙人股东调整的告知函》，国恒基金有限合伙 人武汉旅游体育集团有限公司拟将其持有国恒基金 3 亿元份额（含 2.863 亿元实 缴份额）和其对应的权益转至武汉国创创新投资有限公司，武汉科技投资有限公 司将代表原市科技创业投资引导基金名义出资人持有国恒基金的 324,032,238. ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2] Core Views - The company reported a revenue of 5.2 billion yuan for the first half of 2024, representing a year-on-year increase of 3.51%, with a net profit of 625 million yuan, up 7.40% year-on-year [5] - In Q2 2024, the company achieved a revenue of 3.03 billion yuan, a year-on-year increase of 28.45% and a quarter-on-quarter increase of 39.62% [5] - The company is focusing on strengthening sales and management expense control while increasing R&D investment by 21.41% year-on-year [6] - The forecast for revenue from 2024 to 2026 is 12.73 billion yuan, 15.55 billion yuan, and 17.55 billion yuan respectively, with net profits expected to be 1.32 billion yuan, 1.78 billion yuan, and 2.18 billion yuan [6][10] Financial Summary - The company’s revenue for 2023 is projected at 10.21 billion yuan, with a year-on-year decrease of 15.0%, followed by a recovery with a 24.7% increase in 2024 [7][10] - The gross profit margin is expected to improve from 23.1% in 2023 to 25.4% in 2026 [10] - The earnings per share (EPS) is forecasted to be 1.00 yuan in 2023, increasing to 2.16 yuan by 2026 [10] Business Segmentation - The smart manufacturing segment is expected to generate revenue of 17.27 billion yuan in 2024, with a gross margin of 35.28% [5] - The sensing business is projected to achieve revenue of 18.44 billion yuan in 2024, with a gross margin of 25.64% [5] - The connectivity business is expected to see a revenue decline to 15.95 billion yuan in 2024, with a gross margin of 7.81% [5][8]

公司近一年市场表现 市场数据：2024 年 8 月 20 日 收盘价（元）： 29.94 总股本（亿股）： 10.06 流通股本（亿股）： 10.05 流通市值（亿元）： 300.89 基础数据：2024 年 6 月 30 日 每股净资产（元）： 9.61 每股资本公积（元）： 2.69 每股未分配利润（元）： 5.73 资料来源：最闻 执业登记编码：S0760523050002 邮箱：gaoyuyang@sxzq.com 张天 执业登记编码：S0760523120001 邮箱：zhangtian@sxzq.com 激光加工设备 华工科技（000988.SZ） 买入-A(维持) 二季度环比高速增长，光模块、激光装备下半年有望加速放量 2024 年 8 月 20 日 公司研究/公司快报 投资要点： 公司发布 2024 年中报。2024H1 公司实现营收 52.00 亿元，同比+3.51%；归 母净利润 6.25 亿元，同比+7.40%；扣非后归母净利润 5.07 亿元，同比-6.93%。 其中，24Q2 单季度实现营收 30.30 亿元，同比+28.45%，环比+39.62%；归母 净利润 3.35 亿元，同比 ...

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 股 票 研 究 公 司 更 新 报 告 证 券 研 究 报 告 股票研究 /[Table_Date] 2024.08.18 [table_Authors] 王彦龙(分析师) 黎明聪(分析师) 010-83939775 0755-23976500 wangyanlong@gtjas.com limingcong@gtjas.com 登记编号 S0880519100003 S0880523080008 ——中报点评 本报告导读： 维持盈利预测和目标价，维持增持评级; 业绩符合预期，业务稳健发展；AI 数通 业务开始放量，盈利能力提升可期。 投资要点： [Table_Summary] 维持盈利预测和目标价，维持增持评级。公司公告 2024 年中报，业 绩符合预期，各项业务展望积极，Q2 业绩符合预期。我们维持 2024- 2026 年 归 母净 利 润为 14.19/18.57/24.37 亿元 ，对 应 EPS 为 1.41\1.85\2.42 元。维持目标价 42 元，维持增持 业绩符 ...

Group 1: Financial Performance - The company achieved a consolidated revenue of 5.2 billion yuan, a year-on-year increase of 3.51% [6] - The net profit attributable to shareholders was 625 million yuan, reflecting a year-on-year growth of 7.4% [6] - The overall gross margin for the first half of the year was 23.44%, an increase of 0.64 percentage points compared to the previous year [6] Group 2: Research and Development - R&D investment reached 385 million yuan, a year-on-year increase of 28.18%, accounting for 6.69% of revenue, up 0.99 percentage points [6] - The company emphasizes innovation and talent acquisition as key to its development strategy [8] Group 3: Business Segments - The sensing business generated 1.844 billion yuan in revenue, a year-on-year increase of 11.38%, with sensor sales reaching 1.644 billion yuan [7] - The optical connectivity business reported revenue of 1.595 billion yuan, a decrease of 13% due to a decline in demand related to 5G construction [7] - The laser + intelligent manufacturing segment achieved sales of 1.727 billion yuan, a year-on-year increase of 17.24% [7] Group 4: Global Expansion - The company is actively expanding its global operations, with new factories in Vietnam and Thailand now operational [6] - The sensing business's export sales increased by 27% year-on-year, with significant growth in Southeast Asia and Europe [9] - The optical connectivity business is focusing on North America, with successful product launches and partnerships with major clients [10] Group 5: Strategic Focus - The company is concentrating on three core areas: sensing, optical connectivity, and laser + intelligent manufacturing, targeting markets such as new energy vehicles and AI [8] - It aims to enhance its international market presence and improve operational capabilities across various dimensions [9] - The company plans to continue investing in R&D and talent to support its strategic goals [8]

证券研究报告 华工科技 (000988 CH) Q2 收入增速转正，数通业务持续突破 投资评级(维持): 买入 目标价(人民币): 36.99 研究员 王兴 SAC No. S0570523070003 SFC No. BUC499 wangxing@htsc.com +(86) 21 3847 6737 研究员 高名垚 SAC No. S0570523080006 SFC No. BUP971 gaomingyao@htsc.com +(86) 21 2897 2228 联系人 王珂 SAC No. S0570122080148 wangke020520@htsc.com +(86) 755 8249 2388 联系人 陈越兮 SAC No. S0570123070042 chenyuexi@htsc.com +(86) 21 2897 2228 华泰研究 中报点评 2024 年 8 月 16 日│中国内地 通信设备制造 2Q24 收入同比增速转正，归母净利润快速增长 根据公司 2024 年中报，1H24 公司营收为 52.0 亿元，同比增长 3.5%；归 母净利润为 6.2 亿元，同比增长 7.4%；扣非 ...

Investment Rating - The report maintains a "Recommended" rating for the company [1][2]. Core Insights - The company achieved a revenue of 5.202 billion yuan in the first half of 2024, representing a year-on-year growth of 3.51%, and a net profit attributable to shareholders of 625 million yuan, up 7.40% year-on-year [1]. - In Q2 2024, the company reported a significant recovery in performance, with a revenue of 3.030 billion yuan, a year-on-year increase of 28.45% and a quarter-on-quarter increase of 39.42%. The net profit for Q2 was 335 million yuan, reflecting a year-on-year growth of 22.30% and a quarter-on-quarter growth of 15.57% [1]. - The company's three core businesses—perception, connectivity, and intelligent manufacturing—are showing strong growth, particularly in the intelligent manufacturing sector, which saw a revenue increase of 17.24% year-on-year, driven by significant sales growth in the new energy vehicle and shipbuilding industries [1]. - The company is solidifying its leading position in the global optical module supplier industry, with rapid advancements in product development, including the successful delivery of a full range of 400G and below optical modules and small batch deliveries of 800G modules [1]. Financial Forecasts - The company is expected to achieve net profits of 1.304 billion yuan, 1.572 billion yuan, and 1.890 billion yuan for the years 2024, 2025, and 2026 respectively, with corresponding price-to-earnings ratios of 23x, 19x, and 16x [1][2]. - Revenue projections for the next few years are 13.475 billion yuan in 2024, 16.574 billion yuan in 2025, and 19.889 billion yuan in 2026, with growth rates of 32%, 23%, and 20% respectively [6][7]. Business Segment Performance - The intelligent manufacturing business generated 1.727 billion yuan in revenue, with a notable 73% increase in the new energy vehicle sector and a staggering 441% increase in the shipbuilding sector [1]. - The connectivity business reported a revenue of 1.595 billion yuan, down 13% year-on-year, primarily due to a decline in demand related to 5G construction cycles [1]. - The perception business achieved a revenue of 1.844 billion yuan, with sensor sales contributing 1.644 billion yuan and laser holographic anti-counterfeiting business generating 199 million yuan [1]. Market Position and Strategy - The company is actively developing new technologies and materials for next-generation optical modules, aiming to create leading solutions in "optical connectivity + wireless connectivity" [1]. - The company has successfully launched the latest single-wave 200G self-developed silicon optical chips and various 1.6T optical module products, positioning itself to meet the growing global demand for computing power in the digital age [1].

证券代码：000988 证券简称：华工科技 公告编号：2024-34 华工科技产业股份有限公司 第九届监事会第三次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 华工科技产业股份有限公司（以下简称"华工科技"或"公司"）于 2024 年 8 月 7 日以电话及邮件方式向全体监事发出了"关于召开第九届监事会第三次会 议的通知"。本次会议于 2024 年 8 月 14 日以通讯方式召开。会议应出席监事 5 人，实际收到表决票 5 票。会议的召开符合《公司法》及《公司章程》的规定。 表决结果：同意 5 票，反对 0 票，弃权 0 票。 具体内容详见同日在指定媒体披露的《2024 年半年度报告》及《2024 年半 年度报告摘要》（公告编号：2024-35）。 特此公告 华工科技产业股份有限公司监事会 二〇二四年八月十六日 1 本次会议由监事长张继广先生主持，经全体监事审议并通讯表决，形成了以 下决议： 一、审议通过《2024 年半年度报告》及《2024 年半年度报告摘要》 ...

华工科技产业股份有限公司 2024 年半年度报告 证券代码：000988 2024 年 8 月 16 日 华工科技产业股份有限公司 2024 年半年度报告 2023 年度财务报表附注 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司董事长、总经理马新强，财务总监王霞及财务部经理刘莹声明：保证本半年度报 告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本半年度报告涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承诺，敬请投 资者注意投资风险。 本半年度报告无需遵守特殊行业的披露要求，敬请投资者注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 华工科技产业股份有限公司 2024 年半年度报告 2023 年度财务报表附注 | --- | |------------------------------------------------------------------------------------------- ...

第九届董事会第三次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 华工科技产业股份有限公司（以下简称"华工科技"或"公司"）于 2024 年 8 月 7 日以电话及邮件方式向全体董事发出了"关于召开第九届董事会第三次会 议的通知"。本次会议于 2024 年 8 月 14 日以通讯方式召开。会议应出席董事 9 人，实际收到表决票 9 票。会议的召开符合《公司法》及《公司章程》的规定。 本次会议由董事长马新强先生主持，经全体董事审议并通讯表决，形成了以 下决议： 一、审议通过《2024 年半年度报告》及《2024 年半年度报告摘要》 证券代码：000988 证券简称：华工科技 公告编号：2024-33 华工科技产业股份有限公司 表决结果：同意 9 票，反对 0 票，弃权 0 票。 本议案已经公司审计委员会审议通过。 具体内容详见同日在指定媒体披露的《2024 年半年度报告》及《2024 年半 年度报告摘要》（公告编号：2024-35）。 特此公告 华工科技产业股份有限公司董事会 二〇二四年八月十六日 1 ...