Core Viewpoint - Chengchang Technology (001270) forecasts revenue of 180 million to 230 million yuan for 2024, with a focus on increasing R&D investment and exploring new equipment across multiple fields [1][2] Group 1: Revenue and Growth Projections - The company expects to achieve revenue between 180 million and 230 million yuan in 2024 [1] - Revenue is anticipated to rebound in 2025 as industry demand gradually recovers [2] Group 2: R&D and Product Development - Chengchang Technology is increasing R&D investment to support the mass supply of project products, with multiple products expected to enter mass production in 2025 [1] - The company has over 80 ongoing projects across various fields, at different implementation stages [2] Group 3: Market Applications and Competitive Position - As one of the few domestic companies providing complete T/R chip solutions, Chengchang Technology has achieved comprehensive coverage in the solid-state microwave product chain, with applications in satellite, ground, and airborne phased array radar, as well as satellite communications [1] - The satellite communication market is rapidly developing, supported by national policies in the low-orbit satellite sector, with several satellite series models entering mass delivery stages [1] - The company has established deep cooperative relationships with clients in the airborne sector, with T/R chips for airborne communication applications gradually entering mass production [1]

深交所公开信息显示，当日该股因日跌幅偏离值达-10.97%上榜，机构专用席位净卖出858.00万元，深 股通净买入79.73万元。 证券时报•数据宝统计显示，上榜的前五大买卖营业部合计成交1756.70万元，其中，买入成交额为 388.01万元，卖出成交额为1368.69万元，合计净卖出980.69万元。 证券时报网讯，铖昌科技今日跌停，全天换手率1.03%，成交额3371.97万元。 龙虎榜数据显示，机构净卖出858.00万元，深股通净买入79.73万元，营业部席位合计净卖出202.41万 元。 ...

铖昌科技：2024年预计亏损1900万元–3600万元 公司股票可能被实施退市风险警示财联社1月19日电， 铖昌科技预计2024年年度利润总额亏损2170万元–3870万元，归属于上市公司股东的净利润亏损1,900万 元–3,600万元，扣除非经常性损益后的净利润亏损2,900万元–5,600万元，基本每股收益亏损0.0934元/ 股–0.1769元/股，营业收入18,000万元–23,000万元。 若最近一个会计年度经审计的利润总额、净利润、扣除非经常性损益后的净利润三者孰低为负值，且扣 除后的营业收入低于3亿元，公司将在2024年年度报告披露后被实施退市风险警示。 主要原因为受行业需求延期影响，报告期内营收规模减少，计提的应收账款信用减值损失增加，以及公 司持续加大研发投入，研发费用同比增加。 ...

Group 1: Company Overview - The company is Zhejiang Chengchang Technology Co., Ltd., with stock code 001270 [1] - The company specializes in phased array radar technology and T/R chips, which are core components of phased array systems [2][3] Group 2: Market Position and Product Development - The company has established itself as a core supplier in the satellite communication field, having completed iterations of beamforming chips and launched a full suite of solutions [3] - The T/R chips developed by the company have leading advantages in integration, power consumption, and noise figures [3] Group 3: Financial Performance - The gross profit margin fluctuated significantly in Q1 2024 due to small revenue scale and increased management and R&D costs, but has stabilized since Q2 2024 [3] - The company aims to reduce costs and improve efficiency through enhanced R&D, automation, and process optimization [3] Group 4: Product Features and Technology - The company’s products include various high-performance microwave and millimeter-wave phased array chips, characterized by high performance, high integration, and high reliability [4] - The power amplifier chips utilize GaAs and GaN processes, offering advantages in power capacity and efficiency [4] Group 5: Tax Benefits - The company enjoys a 10% corporate income tax rate since 2022, following a five-year exemption for integrated circuit design enterprises [5] - In 2023, the company benefited from a VAT deduction amounting to 1,784,899.13 yuan [5]

致: 浙江铖昌科技股份有限公司 北京君合（杭州）律师事务所（以下简称"本所"）接受浙江铖昌科技股份有 限公司（以下简称"公司"）委托，根据《中华人民共和国证券法》（以下简称《证 券法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委 员会《上市公司股东大会规则（2022 年修订）》（以下简称《股东大会规则》）、《律 师事务所从事证券法律业务管理办法》等中华人民共和国（以下简称"中国"，为 本法律意见书之目的，不包括香港特别行政区、澳门特别行政区和台湾地区）现 行有效的法律、行政法规、规章和规范性文件和现行有效的《浙江铖昌科技股份 有限公司章程》（以下简称《公司章程》）有关规定，指派律师列席了公司于 2024 年 11 月 14 日召开的 2024 年第四次临时股东大会（以下简称"本次股东大会"）， 并就本次股东大会相关事项出具本法律意见书。 浙江省杭州市西湖区学院路 77 号 黄龙万科中心 A 座 16 楼 邮编：310012 电话：(86-571) 2689-8188 传真：(86-571) 2689-8199 北京君合（杭州）律师事务所 关于浙江铖昌科技股份有限公司 2024 年第四 ...

证券代码：001270 证券简称：铖昌科技 公告编号：2024-059 一、会议召开情况 浙江铖昌科技股份有限公司 1、会议召开时间： 2024年第四次临时股东大会决议公告 （1）现场会议召开时间：2024年11月14日（星期四）下午14:30 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 特别提示： 1、本次股东大会未出现否决提案的情形。 2、本次股东大会未涉及变更以往股东大会决议。 5、会议主持人：董事长罗珊珊女士 （2）通过深圳证券交易所交易系统进行网络投票的具体时间为：2024年11月 14日上午9:15-9:25和9:30-11:30，下午13:00-15:00。通过深圳证券交易所互联网投 票的具体时间为：2024年11月14日9:15-15:00期间的任意时间。 2、现场会议召开地点：杭州市西湖区智强路428号云创镓谷研发中心3号楼会 议室。 3、会议召开方式：本次股东大会采取现场投票与网络投票相结合的方式 6、会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所股票 上市规则》及《公司章程》等的有关规定。 二、会议出席情况 参加本次股 ...

证券代码：001270 证券简称：铖昌科技 公告编号：2024-060 鉴于本次回购注销部分限制性股票将导致公司注册资本减少，根据《中华人 民共和国公司法》等相关法律法规及《公司章程》的规定，公司特此通知债权人： 债权人自本公告之日起45日内向公司申报债权，并有权凭有效债权文件及相关凭 证要求公司清偿债务或者提供相应的担保。债权人如逾期未向公司申报债权，不 会因此影响其债权的有效性，相关债务（义务）将由公司根据原债权文件的约定 继续履行。债权人未在规定期限内行使上述权利的，本次回购注销将按法定程序 继续实施。公司各债权人如要求公司清偿债务或者提供相应担保的，应按相关法 律法规的规定向公司提出书面要求，并随附相关证明文件。 （一）债权申报所需材料： 1、公司债权人可持证明债权债务关系存在的合同、协议及其他凭证的原件 及复印件前往公司申报债权。 2、债权人为法人的，需提供法人营业执照副本原件及复印件、法定代表人 身份证明文件；委托他人申报的，除上述文件外，还需提供法定代表人授权委托 书和代理人有效身份证的原件及复印件。债权人为自然人的，需提供有效身份证 件的原件及复印件；委托他人申报的，除上述文件外，还需提供授权 ...

证券代码：001270 证券简称：铖昌科技 编号：20241112 | --- | --- | --- | --- | |-----------------------|---------------------------------------------------|----------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------| | | √ 特定对象调研 | □ 分析师会议 | | | | □ 媒体采访 □ | 业绩说明会 | | | 投资者关系活动 | □ 新闻发布会 | □ 路演活动 | | | 类别 | □ 现场参观 | | | | | □ 其他（请文字说明其他活动内容） | | | | 活动参与单位 | 本。 | | 鹏华基金、平安基金、宁银理财、华商基金、浙商证券、 招商证券、民生证券、华创证券、圆信 ...

证 券 研 究 报 告 铖昌科技（001270）2024 年三季报点评 推荐（下调） 公司业绩短期承压，Q3 净利润水平有所回暖 目标价：51.52 元 当前价：44.46 元 事项： 10 月 28 日，铖昌科技发布《2024 年三季度报告》，2024Q1-3 公司营业收入为 1.00 亿元，同比下降 41.22%，归母净利润为-0.32 亿元，同比下降 160.19%。 评论： 受客户需求计划、定价机制等因素影响，公司业绩有所承压。2024Q1-3 公司 实现营业收入 1.00 亿元，同比下降 41.22%；实现归母净利润-0.32 亿元，去年 同期归母净利润为 0.52 亿元，同比下降 160.19%。单三季度公司营收为 2861.33 万元，同比增长 413.08%，环比下降 45.02%，实现归母净利润-724.96 万元， 同比增长 40.72%，环比增长 22.71%。公司营收有所下滑主要系下游用户需求 计划影响所致，2024 年上半年公司交付项目产品进度较慢，营业收入较上年 同期下降 9,345.58 万元。公司净利润承压主要系营业收入规模较小、股权激励 股份支付费用计提及研发投入增加所致。此 ...

Investment Rating - The report maintains a "Buy-B" rating for the company [4] Core Views - The domestic satellite industry is expected to experience explosive growth from 2025 to 2026, driven by the integration of rocket launch, satellite assembly, and payload industries [1] - The company's satellite models have expanded, with multiple R&D projects entering mass production, indicating potential for bulk orders in the near term [1] - The company's airborne TR chips have formed deep cooperative partnerships with customers, supporting airborne phased array antenna systems, and are expected to remain a major revenue contributor [2] - Ground-based TR chip deliveries have declined due to reduced customer demand, but recovery is anticipated as customer demand rebounds [2] - The company's Q3 2024 revenue reached a historical high, signaling a turning point in industry demand and order placement [3] - The company's R&D expenses doubled in Q3 2024, reflecting significant investment in innovation [3] - The company's fixed assets increased to 270 million yuan in Q3 2024 due to expanded production capacity and new office and laboratory facilities [3] - The company's market position is strong, being one of the few private enterprises capable of providing complete and advanced T/R chip solutions, as well as aerospace-grade chip R&D, testing, and production [4] - The company's performance is expected to recover rapidly, with projected net profits of 34 million yuan, 94 million yuan, and 150 million yuan for 2024, 2025, and 2026, respectively [4] Financial Performance and Projections - In Q1-Q3 2024, the company reported revenue of 100 million yuan, a year-on-year decrease of 41.22%, and a net loss of 32 million yuan, a year-on-year decrease of 160.19% [2] - In Q3 2024, the company achieved revenue of 29 million yuan, a year-on-year increase of 413.08%, and a net loss of 7 million yuan, a year-on-year improvement of 40.72% [2] - The company's inventory increased in Q3 2024, primarily due to raw material stockpiling and unfinished products awaiting customer pickup, which are expected to convert into future revenue [3] - The company's 2024-2026 revenue is projected to be 274 million yuan, 436 million yuan, and 609 million yuan, respectively, with corresponding net profits of 34 million yuan, 94 million yuan, and 150 million yuan [5] - The company's EPS for 2024-2026 is forecasted to be 0.17 yuan, 0.45 yuan, and 0.72 yuan, respectively [5] - The company's P/E ratios for 2024-2026 are estimated at 268.8x, 98.1x, and 61.4x, respectively [5] Industry and Market Outlook - The satellite industry is poised for rapid development, with the company benefiting from the integration of rocket launch, satellite assembly, and payload industries [1] - The company's airborne TR chips are expected to continue contributing significantly to revenue, supported by multiple models entering mass production [2] - The company's ground-based TR chips are anticipated to recover as customer demand rebounds, with the company's small-sized phased array TR chips offering advantages in target detection, anti-interference, and real-time processing [2] - The company's Q3 2024 performance indicates a turning point in industry demand, with inventory levels suggesting strong underlying demand [3] - The company's long-term outlook is positive, with expectations of a business inflection point in Q4 2024, driven by improved demand in the military and satellite industries [4]