浙江水晶光电科技股份有限公司 对2023年度会计师事务所履职情况评估报告暨 审计委员会对会计师事务所履行监督职责情况报告 浙江水晶光电科技股份有限公司（以下简称"公司"或"水晶光电"）聘请天健会计师 事务所（特殊普通合伙）（以下简称"天健会计师事务所"）作为公司2023年年报审计及内 部控制审计机构。根据《国有企业、上市公司选聘会计师事务所管理办法》，公司对天健会 计师事务所2023年审计过程中的履职情况进行评估，审计委员会对会计师事务所履职情况进 行全过程监督。具体情况如下： 注册地址：浙江省杭州市西湖区灵隐街道西溪路 128 号 首席合伙人：王国海 截至 2023 年 12 月 31 日，天健会计师事务所共有合伙人 238人，注册会计师 2,272 人， 其中签署过证券服务业务审计报告的注册会计师 836 人。 （二）聘任会计师事务所履行的程序 公司于 2023 年 3 月 28 日第六届董事会第十二次会议以 9 票同意，0 票反对，0 票弃权 审议通过了《关于续聘天健会计师事务所的议案》，同意续聘天健会计师事务所（特殊普通 合伙）为公司 2023 年度审计机构。2023 年 5 月 5 日，该议案经公司 ...

证券代码：002273 股票简称：水晶光电 公告编号：（2024）030 号 浙江水晶光电科技股份有限公司 关于首次实施回购公司股份的公告 浙江水晶光电科技股份有限公司（以下简称"公司"）于 2024 年 2 月 5 日召开的第六 届董事会十九次会议审议通过了《关于回购公司股份方案的议案》，根据《公司章程》的规 定，本次回购方案无需提交股东大会审议。本次公司拟使用自有资金以集中竞价方式从二级 市场回购公司股份，金额总额不低于人民币 10,000 万元（含）、不超过人民币 20,000 万元 （含），回购价格不超过人民币 14 元/股（含），本次回购股份实施期限为自公司董事会审 议通过回购方案之日起 6 个月内（即 2024 年 2 月 5 日至 2024 年 8 月 4 日）。详情请见 2024 年 2 月 6 日 披露于信息披露媒体《证券时报》和信息披露网站巨潮资讯网 （http://www.cninfo.com.cn）上的《关于回购公司股份的方案》（公告编号：（2024）013 号）、《回购报告书》（公告编号：（2024）014 号）。 2024 年 3 月 28 日，公司首次实施了本次股份回购。根据《上 ...

证券代码：002273 股票简称：水晶光电 公告编号：（2024）029 号 浙江水晶光电科技股份有限公司 关于第五期员工持股计划第二批股票出售完毕的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 2、公司于 2022 年 4 月 21 日实施了 2021 年年度权益分派方案，向全体股东每 10 股派 2.00 元人民币现金（含税），不送红股，不以资本公积金转增股本。公司本员工持股计划 因此获得现金红利 120.80 万元人民币（含税）。 浙江水晶光电科技股份有限公司（以下简称"公司"）于 2021 年 10 月 22 日召开的第 五届董事会第三十八次会议及 2021 年 11 月 9 日召开的 2021 年第二次临时股东大会审议通 过了《浙江水晶光电科技股份有限公司第五期员工持股计划（草案）及其摘要的议案》（以 下简称"《第五期员工持股计划（草案）》"）、《关于提请股东大会授权董事会办理浙江 水晶光电科技股份有限公司第五期员工持股计划相关事宜的议案》，同意公司实施第五期员 工持股计划（以下简称"本员工持股计划"），并授权董事会全权办理与本员工持股计划 ...

Investment Rating - The report maintains a rating of "Accumulate" for the company [2][14]. Core Views - The company's performance in 2023 met expectations, with growth in micro-prism and film optical panel businesses, benefiting from the development of the optical industry [14]. - The target price is set at 17.10, with the current price at 13.72, indicating potential upside [14]. - The company achieved a revenue of 5,076 million in 2023, a year-on-year increase of 16.01%, and a net profit of 600 million, up 4.15% year-on-year [14]. Financial Summary - **Revenue Forecast**: - 2022A: 4,376 million - 2023A: 5,076 million - 2024E: 6,560 million - 2025E: 7,638 million - 2026E: 9,561 million [2][14]. - **Net Profit**: - 2022A: 576 million - 2023A: 600 million - 2024E: 787 million - 2025E: 999 million - 2026E: 1,199 million [2][14]. - **Earnings Per Share (EPS)**: - 2023: 0.43 - 2024: 0.57 - 2025: 0.72 - 2026: 0.86 [14]. - **Profitability Ratios**: - Operating Profit Margin: 11.4% in 2023, expected to rise to 14.2% by 2026 - Net Asset Return Rate (ROE): 7.0% in 2023, expected to reach 10.8% by 2026 [14]. Industry Position - The company is a leading player in the optical components sector, with significant market share in micro-prism modules and film optical panels, benefiting from strong demand in consumer electronics and automotive sectors [14]. - The company is positioned to benefit from the growth in the optical industry, with ongoing developments in augmented reality and other advanced optical technologies [14].

Investment Rating - The report maintains a "Buy" rating for the company [12]. Core Insights - The company achieved steady revenue and profit growth in 2023, driven by optical components and film optical panels, while the HUD (Heads-Up Display) business is expected to open a new growth curve [3][7]. - Revenue for 2023 reached 5.076 billion yuan, a year-on-year increase of 16.01%, with a net profit attributable to shareholders of 600 million yuan, up 4.15% year-on-year [3][7]. - The company is focusing on expanding its market share in the optical components and micro-prism sectors, with significant opportunities for innovation and collaboration with major domestic and international clients [3][7]. Summary by Sections Financial Performance - In 2023, the company reported a revenue of 5.076 billion yuan, with a growth rate of 16.01% and a net profit of 600 million yuan, reflecting a 4.15% increase [3][15]. - The fourth quarter of 2023 saw a revenue of 1.527 billion yuan, a year-on-year increase of 30.03%, while net profit for the same period was 162 million yuan, up 69.10% year-on-year [3]. Product Segmentation - The optical components segment generated 2.446 billion yuan in revenue, growing 21.11% year-on-year, with a gross margin of 30.66% [3]. - The film optical panel segment achieved 1.849 billion yuan in revenue, a 17.77% increase year-on-year, with a gross margin of 25.48% [3]. - The HUD and AR business became a new growth driver, with HUD shipments exceeding 200,000 units and revenue of 291 million yuan, up 54.39% year-on-year [3]. Future Outlook - The company expects significant growth in the market for reflective composite filters and micro-prisms, with enhanced collaboration with major clients leading to increased market share [3][7]. - The HUD business is positioned as a new growth point, with successful projects with major automotive brands and a focus on cost control to improve operational quality [3][7]. - The company has been strategically positioning itself in the VR/AR metaverse space, developing a comprehensive optical solution capability [3].

证券代码：002273 股票简称：水晶光电 公告编号：（2024）028 号 浙江水晶光电科技股份有限公司 关于第七期员工持股计划第一批股票锁定期届满的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 浙江水晶光电科技股份有限公司（以下简称"公司"）于 2022 年 12 月 12 日召开的第 六届董事会第十次会议及 2022 年 12 月 28 日召开的 2022 年第四次临时股东大会审议通过了 《关于<浙江水晶光电科技股份有限公司第七期员工持股计划（草案）>及其摘要的议案》（以 下简称"《第七期员工持股计划（草案）》"）、《关于提请股东大会授权董事会办理公司 第七期员工持股计划有关事项的议案》，同意公司实施第七期员工持股计划（以下简称"本 员工持股计划"或"本持股计划"），并授权董事会全权办理与本员工持股计划相关的事宜。 具体内容详见公司于 2022 年 12 月 13 日、2022 年 12 月 29 日在信息披露媒体《证券时报》 和信息披露网站巨潮资讯网 http://www.cninfo.com.cn 上披露的相关公告。 根据中国证监会《关 ...

Financial Performance - Revenue in 2023 reached 5.076 billion yuan, a year-on-year increase of 16.01% [5] - Net profit attributable to shareholders was 600 million yuan, up 4.15% year-on-year [5] - Non-GAAP net profit stood at 523 million yuan, increasing by 2.72% [5] - R&D expenses accounted for 8.35% of total revenue in 2023 [6] Business Segment Performance Optical Components - Generated 2.446 billion yuan in revenue, up 21.11% year-on-year [5] - Gross margin increased by 4.5 percentage points [5] Thin Film Optical Panels - Achieved 1.849 billion yuan in revenue, growing 17.77% year-on-year [5] - Gross margin improved by 3.37 percentage points [5] Automotive Electronics (AR+) - AR-HUD products achieved domestic market share leadership [5] - Revenue structure transitioning from components to modules [5] Semiconductor Optics - Revenue declined 62.46% to 108 million yuan [5] - Gross margin decreased by 4.94 percentage points [5] Strategic Focus Areas Consumer Electronics - Maintained deep cooperation with leading smartphone manufacturers [6] - Benefited from domestic Android brand recovery in H2 2023 [6] - Focused on absorption-reflection composite filters and prism products [8] Automotive Electronics - Secured nearly 20 project designations in automotive sector [7] - Achieved three firsts in AR-HUD market [7] - Expanded customer base to include domestic and international OEMs [7] Metaverse Optics - 15-year experience in AR/VR field [7] - Focused on reflective waveguide technology [9] - Positioned to provide comprehensive optical solutions [7] Operational Highlights - Q3 contributed 43% of annual net profit, highest among all quarters [5] - Q4 revenue reached peak levels due to new product ramp-up [5] - R&D expenses peaked at 11.69% of revenue in H1 2023 [6] Future Outlook - Targeting 10%-30% revenue growth in 2024 [8] - Focusing on structural optimization and cost reduction [8] - Expanding overseas presence with new office in Stuttgart [7] - Continuing Vietnam factory phase II construction [7] Competitive Advantages - Clear strategic positioning across three major business segments [7] - Cumulative R&D investment of 1.002 billion yuan from 2021-2023 [7] - Established talent development system through Crystal Academy [7] - Global asset allocation with overseas manufacturing capabilities [7]

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative increase of over 15% in stock price compared to the benchmark index over the next 6 to 12 months [8]. Core Views - The company is expected to benefit from the incremental contribution of micro-prism technology, with multiple long-term growth points identified [4]. - The report highlights a significant increase in revenue and net profit projections for the coming years, driven by high-margin products such as micro-prisms and composite filters [4][6]. Financial Summary - **Revenue Forecast**: - 2022A: 4,376 million - 2023A: 5,076 million (yoy +16%) - 2024E: 6,540 million (yoy +29%) - 2025E: 7,918 million (yoy +21%) - 2026E: 8,951 million (yoy +13%) [4][6] - **Net Profit Forecast**: - 2022A: 576 million - 2023A: 600 million (yoy +4%) - 2024E: 801 million (yoy +33%) - 2025E: 998 million (yoy +25%) - 2026E: 1,168 million (yoy +17%) [4][6] - **Earnings Per Share (EPS)**: - 2023: 0.43 - 2024E: 0.58 - 2025E: 0.72 - 2026E: 0.84 [4][6] - **Return on Equity (ROE)**: - 2023: 6.7% - 2024E: 8.4% - 2025E: 9.7% - 2026E: 10.4% [6] - **Price-to-Earnings (P/E) Ratio**: - 2024E: 36 - 2025E: 27 - 2026E: 22 [4][6] Key Investment Points - The company is expected to see significant growth in its optical components revenue, particularly from micro-prisms and composite filters, which are projected to have high gross margins [4]. - The report notes that the company has successfully expanded its market share in the domestic market, particularly with mainstream terminal products [4]. - The automotive electronics segment is also highlighted as a growth area, with successful customer expansion and new product developments [4].

Investment Rating - The report maintains a "Buy" rating for the company, expecting its stock price to outperform the benchmark index by over 20% in the next 6-12 months [9][13][21]. Core Views - The company demonstrated strong performance in 2023, with revenue of RMB 5.08 billion, a year-on-year increase of 16.01%, and a net profit of RMB 600 million, up 4.15% year-on-year. The gross margin improved to 27.81%, reflecting growth in the micro-prism and optical film panel businesses [21]. - The fourth quarter of 2023 saw significant growth, with revenue reaching RMB 1.53 billion, a 30.05% increase year-on-year, and net profit soaring by 68.83% to RMB 162 million. This growth was primarily driven by the mass production of the micro-prism project and improvements in market share and gross margin for optical film panels [21]. - The company is expected to benefit from the optical upgrade trend in smartphones in 2024, with new product launches from major brands like Huawei and Apple driving demand for its optical products [21]. Financial Summary - The company’s projected financials for 2024-2026 include: - Revenue: RMB 6.48 billion in 2024, RMB 7.91 billion in 2025, and RMB 9.63 billion in 2026, with growth rates of 27.6%, 22.1%, and 21.8% respectively [21][14]. - Net profit: Expected to reach RMB 755 million in 2024, RMB 990 million in 2025, and RMB 1.16 billion in 2026, with growth rates of 25.8%, 31.1%, and 17.5% respectively [21][14]. - EBITDA: Projected to be RMB 1.27 billion in 2024, RMB 1.64 billion in 2025, and RMB 2.02 billion in 2026 [21][14]. - The report also highlights an increase in earnings per share (EPS) from RMB 0.54 in 2024 to RMB 0.84 in 2026, with corresponding price-to-earnings (P/E) ratios decreasing from 28.6 to 18.6 [21][14]. Market Position and Growth Drivers - The company has secured over ten new contracts in the automotive sector, expanding its product offerings to include automotive cameras and LCoS PGU modules, positioning itself as a leading supplier in the AR-HUD market [21]. - The report emphasizes the company's effective operational strategies, which have allowed it to achieve significant results even during a downturn in the consumer electronics industry [21].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected performance that will exceed the market by over 20% [11][25]. Core Insights - The company achieved a revenue of 5.08 billion yuan in 2023, representing a year-over-year increase of 16.0%. The net profit attributable to shareholders was 600 million yuan, up 4.2% year-over-year, with a gross margin of 27.8%, an increase of 0.9 percentage points [25]. - The company’s optical components and film optical panels have shown significant revenue and profit growth, with optical components generating 2.45 billion yuan in revenue (YoY +21.1%) and a gross margin of 30.7% (YoY +4.5 percentage points) [18]. - The automotive business saw a revenue increase of 54.4% year-over-year, reaching 290 million yuan, although the gross margin decreased to 11.7% [18]. - The strategic focus remains on optical components, automotive optics, and AR/VR, with a target of achieving a revenue growth of 10%-30% in 2024 [18]. Financial Summary - The company’s financial forecasts for 2024, 2025, and 2026 project net profits of 760 million yuan, 878 million yuan, and 1.05 billion yuan respectively, with corresponding EPS of 0.55 yuan, 0.63 yuan, and 0.76 yuan [25]. - The projected P/E ratios for 2024, 2025, and 2026 are 28.5, 24.6, and 20.6 respectively, indicating a favorable valuation trend [25]. - The company’s gross margin is expected to remain stable around 27.9% in 2024, with a slight decrease to 27.4% by 2026 [20].