Market Overview - The Shanghai Composite Index is at 3568.16 points, with a change of 0.23% [1] - The total trading volume of A-shares is 697.23 billion yuan [1] Technical Analysis - 49 A-shares have seen their 5-day moving average cross below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Sifang Precision (300468) at -1.60% - Langxin Group (300682) at -0.99% - Zhongyou Capital (000617) at -0.91% [1] Individual Stock Performance - Sifang Precision (300468): Today's change is -1.11%, with a latest price of 37.52 yuan, which is -8.04% from the 10-day moving average [1] - Langxin Group (300682): Today's change is -1.88%, with a latest price of 19.29 yuan, which is -6.20% from the 10-day moving average [1] - Zhongyou Capital (000617): Today's change is -2.05%, with a latest price of 8.59 yuan, which is -4.96% from the 10-day moving average [1] - Other stocks with notable performance include: - China Reinsurance (601319): +0.12%, latest price 8.17 yuan, -2.73% from the 10-day moving average [1] - Haosen Intelligent (688529): +0.76%, latest price 19.97 yuan, -0.99% from the 10-day moving average [1] - Huangtai Liquor (000995): -1.52%, latest price 14.29 yuan, -3.99% from the 10-day moving average [1]

Core Viewpoint - Lianchuang Electronics (002036) is expected to turn a profit in the first half of 2025, with projected net profit ranging from 18 million to 26 million yuan, compared to a loss of 64.99 million yuan in the same period last year [1][2]. Financial Performance - The company anticipates a net profit attributable to shareholders of 18 million to 26 million yuan for the first half of 2025, a significant improvement from the loss of 64.99 million yuan in the previous year [2]. - The net profit after deducting non-recurring gains and losses is expected to be a loss of 45 million to 26 million yuan, compared to a loss of 99.96 million yuan in the same period last year [2]. - Basic earnings per share are projected to be between 0.0170 yuan and 0.0245 yuan, recovering from a loss of 0.0608 yuan per share in the previous year [2]. Business Development - The performance improvement is attributed to the successful development of the core optical business and continuous growth in automotive optics [3]. - The touch display industry has completed customer and product structure adjustments, leading to enhanced production efficiency [3]. - The application terminal industry has achieved sustained business growth through upgrades in customer structure and R&D capabilities [3]. - The company has enhanced its profitability by optimizing resource allocation, improving asset operation efficiency, and reducing management costs [3]. Company Background - Lianchuang Electronics, established on April 22, 1998, is located in Nanchang High-tech Industrial Development Zone, Jiangxi Province, and was listed on September 3, 2004 [5]. - The company specializes in the R&D, production, and sales of optical lenses and touch display components [5]. - In 2024, the company reported an operating income of 10.212 billion yuan, a year-on-year increase of 3.69%, and a net profit attributable to shareholders of -553 million yuan, a 44.29% increase in loss compared to the previous year [5].

[Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E8%AE%A1%E6%83%85%E5%86%B5) The company forecasts a return to profitability in H1 2025, with net profit attributable to shareholders projected between 18 million and 26 million yuan 2025 Semi-Annual Performance Forecast | Item | Current Period | Prior Year Same Period | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders of Listed Company** | Profit: 18 million – 26 million yuan | Loss: 64.9914 million yuan | | **Net Profit After Deducting Non-Recurring Gains and Losses** | Loss: 26 million – 45 million yuan | Loss: 99.9637 million yuan | | **Basic Earnings Per Share** | Profit: 0.0170 – 0.0245 yuan/share | Loss: 0.0608 yuan/share | [Communication with Accounting Firm](index=1&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8E%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%B2%9F%E9%80%9A%E6%83%85%E5%86%B5) The company has pre-communicated its performance forecast with the annual audit accounting firm, with no significant disagreements, noting the data remains unaudited - This performance forecast is unaudited by the accounting firm, but the company has pre-communicated with the auditors, and no significant disagreements exist[3](index=3&type=chunk) [Explanation of Performance Change](index=1&type=section&id=%E4%B8%89%E3%80%81%E4%B8%9A%E7%BB%A9%E5%8F%98%E5%8A%A8%E5%8E%9F%E5%9B%A0%E8%AF%B4%E6%98%8E) The company's return to profitability is primarily driven by its strategic focus on the optical industry, optimizing product and customer structures, and enhancing overall financial performance - The company's turnaround to profitability is primarily attributed to its strategy of **concentrating resources on developing the optical industry** and deep optimization of its product structure[5](index=5&type=chunk) - Core optical business development is progressing well, with **continued growth in automotive optics**; touch display and application terminal industries also improved efficiency and business scale through customer and product structure adjustments[5](index=5&type=chunk) - The company enhanced profitability through internal management initiatives, including **optimizing resource allocation**, **improving asset operational efficiency**, and **reducing management costs**[5](index=5&type=chunk) [Risk Warning](index=2&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) This performance forecast is a preliminary estimate, with final data subject to the official 2025 semi-annual report, urging investors to exercise caution - This performance forecast is a preliminary estimate, and final data will be based on the company's officially disclosed 2025 semi-annual report, cautioning investors to be aware of risks[6](index=6&type=chunk) [Reference Documents](index=2&type=section&id=%E4%BA%94%E3%80%81%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6) The board of directors' explanations regarding the 2025 semi-annual performance forecast are available as reference documents - The board of directors' explanations regarding the 2025 semi-annual performance forecast are available as reference documents[7](index=7&type=chunk)

Core Points - Lianchuang Electronics reported a narrowing loss for the year 2024, with a revenue of 10.21 billion yuan, a year-on-year increase of 3.69% [1] - The net profit attributable to shareholders was -552.82 million yuan, a 44.29% improvement compared to the previous year [1] - The company’s gross margin for 2024 was 9.19%, an increase of 0.90 percentage points year-on-year [2] Financial Performance - Revenue for 2024 was 10,211,565,372.33 yuan, compared to 9,847,738,457.14 yuan in 2023 [1] - The net profit attributable to shareholders was -552,822,266.81 yuan, improving from -992,386,862.62 yuan in 2023 [1] - The cash flow from operating activities increased by 64.16% to 345,170,853.82 yuan [1] Profitability Metrics - The net profit margin for 2024 was -6.09%, an increase of 4.68 percentage points from the previous year [2] - The basic earnings per share were -0.52 yuan, compared to -0.93 yuan in 2023 [1] - The weighted average return on equity was -22.30%, improving by 7.53% from the previous year [1] Expense Management - Total operating expenses for 2024 were 1.322 billion yuan, a decrease of 39.98 million yuan from the previous year [2] - The expense ratio was 12.94%, down by 0.88 percentage points year-on-year [2] - Sales expenses decreased by 12.62%, while management expenses increased by 6.52% [2] Employee Statistics - The total number of employees at the end of 2024 was 13,052, an increase of 2,677 employees or 25.80% from the previous year [4] - The number of employees in the main subsidiaries was 9,764 [4] Executive Compensation - Total compensation for directors, supervisors, and senior management in 2024 was 14.6983 million yuan [5] - The highest-paid executive, Vice President Wang Zhuo, received 2.7954 million yuan, which is 2.16 times the salary of the Chairman [5] Company Overview - Lianchuang Electronics, established on April 22, 1998, specializes in the research, production, and sales of optical lenses and touch display components [5]

Group 1 - BYD's smart driving concept experienced significant movement in the afternoon, with Lianchuang Electronics nearing a trading limit increase [1] - Other companies such as Yutong Optical, Tongda Electric, Asia-Pacific Shares, Haon Automotive Electric, and Desay SV also saw gains [1] - On July 9, BYD announced via its official WeChat account that it has achieved L4-level comparable smart parking, becoming the first globally to do so, and committed to covering safety and losses for all Tian Shen Yan vehicle users in smart parking scenarios in the Chinese market [1]

证券代码：002036 证券简称：联创电子 公告编号：2025—055 债券代码：128101 债券简称：联创转债 联创电子科技股份有限公司 关于公司提供担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误 导性陈述或者重大遗漏。 特别提示： 联创电子科技股份有限公司（以下简称"公司"）及控股子公司对外担保总额超过最 近一期经审计净资产的 100%。公司存在向合并报表范围内资产负债率超过 70%的控股子公 司提供担保的情形，请投资者充分关注担保风险。 一、担保情况概述 年度预计担保额度的公告》。 二、担保进展情况 2025 年 6 月，公司为合并报表范围内下属公司提供担保金额为 82,550.00 万元；具体情况如下： | 序 | 担保人 | 被担保人 | 债权人 | 担保金额 | 担保 | 担保 | 保证期间 | | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | | | | （万元） | 范围 | 方式 | | | | | | 江西银行 | | 申请 | | | | | 联创电子科 | 江西联益 | 股份有限 ...

证券代码：002036 证券简称：联创电子 公告编号：2025—054 债券代码：128101 债券简称：联创转债 暨股份变动公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误 导性陈述或者重大遗漏。 重要内容提示： 证券代码：002036，证券简称：联创电子 联创电子科技股份有限公司 2025 年第二季度可转换公司债券转股情况 一、可转债发行上市概况 （一）可转债发行情况 经中国证券监督管理委员会《关于核准联创电子科技股份有限公司公开发行 可转换公司债券的批复》（证监许可[2020]84 号）核准，公司于 2020 年 3 月 16 日公开发行了 300 万张可转换公司债券，每张面值 100 元，发行总额 30,000 万 元，期限六年。 （二）可转债上市情况 债券代码：128101，债券简称：联创转债 转股价格：人民币11.17元/股 转股时间：2020 年 9 月 21 日至 2026 年 3 月 16 日 根据《深圳证券交易所股票上市规则》《深圳证券交易所可转换公司债券业 务实施细则》的有关规定，联创电子科技股份有限公司（以下简称"联创电子"、 "公司"）现将 2025 ...

Group 1 - The core viewpoint of the announcement is that the company, Lianchuang Electronics Technology Co., Ltd., has received a follow-up credit rating for its convertible bonds and overall credit status, maintaining a stable outlook [1][2]. - The previous credit rating for the company was AA- with a stable outlook, and the same rating applies to the "Lianchuang Convertible Bonds" [1][2]. - The follow-up rating report was issued by Dongfang Jincheng International Credit Assessment Co., Ltd. on June 25, 2025, confirming the ratings [2]. Group 2 - The announcement emphasizes the company's commitment to accurate and complete information disclosure, ensuring no misleading statements or significant omissions [1]. - The rating report is available on the official website of the company and provides detailed insights into the company's credit status [2]. - The board of directors of Lianchuang Electronics Technology Co., Ltd. officially released this announcement on June 27, 2025 [4].

证券代码：002036 证券简称：联创电子 公告编号：2025—053 债券代码：128101 债券简称：联创转债 联创电子科技股份有限公司 关于可转换公司债券 2025 年跟踪评级结果的公告 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 导性陈述或者重大遗漏。 根据中国证券监督管理委员会《公司债券发行与交易管理办法》《上市公司 证券发行管理办法》的相关规定，联创电子科技股份有限公司（以下简称"公司"） 委托信用评级机构东方金诚国际信用评估有限公司（以下简称"东方金诚"）对 公司主体及公开发行的可转换公司债券（以下简称"联创转债"）信用状况进行 了跟踪评级。 公司前次主体信用评级结果为 AA-，评级展望为稳定；"联创转债"前次信 用评级结果为 AA-；评级机构为东方金诚，评级时间为 2024 年 6 月 27 日。 东方金诚在对公司主体概况、行业分析、经营概况、财务分析等进行综合分 析与评估的基础上，于 2025 年 6 月 25 日出具了《联创电子科技股份有限公司主 体及"联创转债"2025 年度跟踪评级报告》（以下简称"《评级报告》"）（东 方金诚债跟踪评字【2025】037 ...

信用等级通知书 东方金诚债跟踪评字【2025】0375 号 联创电子科技股份有限公司： 东方金诚国际信用评估有限公司根据跟踪评级安排对贵公司及"联 创转债"的信用状况进行了跟踪评级，经信用评级委员会评定，此 次跟踪评级维持贵公司主体信用等级为 AA-，评级展望为稳定，同 时维持"联创转债"信用等级为 AA-。 东方金诚国际信用评估有限公司 信评委主任 二〇二五年六月二十五日 东方金诚债跟踪评字【2025】0375 号 信用评级报告声明 为正确理解和使用东方金诚国际信用评估有限公司（以下简称"东方金诚"）出具的 信用评级报告（以下简称"本报告"），本公司声明如下： 1.本次评级为委托评级，东方金诚与评级对象不存在任何影响本次评级行为独立、客 观、公正的关联关系，本次项目评级人员与评级对象之间亦不存在任何影响本次评级 行为独立、客观、公正的关联关系。 2.本次评级中，东方金诚及其评级人员遵照相关法律、法规及监管部门相关要求，充 分履行了勤勉尽责和诚信义务，有充分理由保证本次评级遵循了真实、客观、公正的 原则。 3.本评级报告的结论，是按照东方金诚的评级流程及评级标准做出的独立判断，未受 评级对象和第三方组织或个人 ...