Group 1 - The total trading volume of the top five trading departments reached 1.333 billion yuan, with a net buying amount of 275 million yuan [1] - The latest margin balance for the stock is 1.999 billion yuan, with a financing balance of 1.986 billion yuan and a securities lending balance of 12.2798 million yuan, showing a 27.17% increase in financing balance over the past five days [2] - The stock experienced a net inflow of 206 million yuan in main funds today, with a significant single net inflow of 345 million yuan [3] Group 2 - Guangxun Technology reached a daily limit increase with a turnover rate of 10.66% and a total trading volume of 4.643 billion yuan [4] - Among the trading departments, one institutional special seat appeared, with a net buying amount of 747,000 yuan, while the Shenzhen Stock Connect was the second-largest buying department and the largest selling department [5] - The stock was listed on the daily limit deviation list with a deviation value of 9.55% [2]

证券代码：002281 证券简称：光迅科技 公告编号：（2024）059 武汉光迅科技股份有限公司 关于 2022 年限制性股票激励计划 部分限制性股票回购注销完成的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 特别提示： 1、武汉光迅科技股份有限公司（以下简称"公司"）本次回购注销涉及 21 名激励对象，回购注销的限制性股票数量为 609,300 股，占回购前公司总股本 794,201,952 股的 0.0767%； 2、本次回购注销的限制性股票的回购价格为 10.99 元/股； 3、公司应就本次限制性股票回购支付价款共计 669.6207 万元，全部为公司 自有资金； 4、截至本公告披露日，公司已在中国证券登记结算有限责任公司深圳分公 司办理完成本次限制性股票的回购注销手续； 6、2023 年 10 月 27 日，公司第七届董事会第十三次会议和第七届监事会第 十二次会议审议通过了《关于回购注销 2017 年、2019 年及 2022 年限制性股票 激励计划部分限制性股票的议案》，公司 2022 年限制性股票激励计划的激励对 象 3 人因离职已不符合激励条 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 49.13 yuan as of November 13, 2024 [10] Core Viewpoints - Q3 revenue growth was driven by strong demand for 400G/800G optical modules in the data communication sector, with revenue reaching 2.27 billion yuan, up 50% YoY and 25% QoQ [5] - Gross margin improved to 25.1% in Q3, up 3.2 percentage points YoY and 2.3 percentage points QoQ, attributed to higher yield rates and increased self-supply of optical chips [6] - The company's optical chip products are among the top tier in China, with significant capacity and ongoing breakthroughs in high-end products like 50G VCSEL and 100G PAM4 EML chips [7] - Domestic cloud providers' Capex is at a cyclical low, with significant room for growth, especially driven by AI-related expansion [7] Financial Performance and Forecasts - Q3 net profit reached 255 million yuan, up 45% YoY and 94% QoQ, with non-GAAP net profit at 248 million yuan, up 75% YoY and 86% QoQ [5] - The company is expected to achieve net profits of 800 million yuan, 1.206 billion yuan, and 1.607 billion yuan in 2024, 2025, and 2026, respectively, with YoY growth rates of 29%, 51%, and 33% [8] - The company's PE ratios for 2024-2026 are projected at 49x, 32x, and 24x, respectively [8] Industry and Market Context - The global optical module market is experiencing strong growth, driven by AI and data center expansion, with the company well-positioned to benefit from this trend [7] - Domestic cloud providers are expected to increase Capex significantly, driven by AI and computing power expansion, which will further boost demand for the company's products [7] Operational Highlights - The company has accelerated production and material preparation, with fixed assets increasing by 16% QoQ and inventory up 34% QoQ in Q3 [5] - R&D expenses remained high at 8.7% of revenue in Q3, reflecting the company's commitment to innovation and technological advancement [6]

Investment Rating - The report maintains an "Accumulate" rating for the company [2][3] Core Views - The company reported a revenue of 5.378 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 24.29%. The net profit attributable to shareholders was 464 million yuan, up 12.26% year-on-year, while the net profit excluding non-recurring items reached 454 million yuan, marking a 29.97% increase year-on-year [2][3] - In Q3 2024, the company achieved a revenue of 2.268 billion yuan, which is a 49.99% increase year-on-year and a 24.68% increase quarter-on-quarter. The net profit attributable to shareholders for the quarter was 255 million yuan, up 46.37% year-on-year and 94.49% quarter-on-quarter [2][3] - The acceleration in the shipment of 400G and 800G high-speed products has significantly boosted revenue, with the gross margin in Q3 increasing by 2.30 percentage points to 25.10%. The net profit margin also improved by 4.41 percentage points to 11.16% due to ongoing cost reduction and efficiency enhancement efforts [3] - The company is actively expanding its domestic and international customer base and is preparing inventory to alleviate material shortages, with Q3 inventory increasing by approximately 1.019 billion yuan to 4.006 billion yuan. It is expected that material shortages will improve in Q4, supporting continued business growth [3] - The profit forecast has been adjusted, with expected net profits for 2024-2026 projected at 792 million, 1.047 billion, and 1.272 billion yuan, corresponding to PE ratios of 45.7, 34.5, and 28.4 times based on the closing price on October 31, 2024 [3][4] Financial Summary - For 2024E, the company is expected to generate a revenue of 7.824 billion yuan, with a year-on-year growth of 29.1%. The net profit attributable to shareholders is projected to be 792 million yuan, reflecting a year-on-year growth of 27.8% [4] - The gross margin is anticipated to be 23.6% in 2024E, with a return on equity (ROE) of 8.8% [4] - The earnings per share (EPS) is expected to be 1.00 yuan in 2024E, with a PE ratio of 45.7 times [4]

主要是当时国外的一个大厂是吧他这个需求是比较明确的然后现在来看呢可能就是其他的一些互联网厂家互联网厂家也在纷纷的这个去这个去做一些布局那这些我们也会跟客户 不同的客户积极的沟通,积极的沟通,对,总的来说呢,就是说这块本质上它是无缘旗舰的,核心的底层技术是无缘旗舰,光开关的技术,那这块刚好是我们光讯的一个强项嘛,对吧,因为光讯本来就是做无缘, 所以说在这一块不管是里面用到的这个MEMS技术还是夜间技术还是其他的一些技术我们光绪都有布局因为可能不同的客户他的这种策略也是不同的那我们反正多种技术布局是满足不同的客户的一个需求或者要求 感谢领导的回答下面是来自网络端参会者的文字提问请问光模块这边明年硅光渗透率如何预期公司数通光模块产品中硅光的出货比例硅光的模块刚才也提到了硅光的模块不管是从客户的情况来看还是技术发展趋势来看硅光在 一手录音关注公众号专家调研 一手及时音频 添加微信START 20160903二道贩子请勿再下载传播 好的好的那我看到这边暂时没有这样的提问了张总您看您这边最后还是要做一些总结补充吗说的也差不多了是的其实我觉得交流比较充分了然后这里面也非常感谢张总把大家每个关心的问题包括大家现在比较关心的硅 ...

Investment Rating - The report maintains an "Accumulate" rating for the company, with a target price raised to 55.80 CNY from the previous 46.25 CNY [3][5]. Core Insights - The company's performance exceeded market expectations, with significant improvements in profit margins. The industry demand is robust, and material supply is well-secured [4][5]. - For the first three quarters of 2024, the company achieved revenue of 5.377 billion CNY, a year-on-year increase of 24.29%, and a net profit attributable to shareholders of 464 million CNY, up 12.26% year-on-year. In Q3 alone, revenue reached 2.268 billion CNY, a quarter-on-quarter increase of 24.68%, marking a historical high for a single quarter [5]. - The gross profit margin improved significantly, with Q2's overall gross margin at 22.8% and Q3's single-quarter gross margin rising to 25.10%, driven by an enhanced product mix [5]. Summary by Sections Financial Performance - The company forecasts net profits for 2024-2026 at 840 million CNY, 1.476 billion CNY, and 1.914 billion CNY, respectively, corresponding to EPS of 1.06 CNY, 1.86 CNY, and 2.41 CNY [5][11]. - The total revenue for 2024 is projected to be 9.247 billion CNY, reflecting a growth rate of 52.6% compared to 2023 [10][11]. Market Position - The company is positioned well within the industry, with a market capitalization of 35.024 billion CNY and a current price of 44.10 CNY [6][12]. - The average industry PE for 2024 is 46.11, while the company's PE is projected at 39.13 for 2024, indicating a competitive valuation [12]. Industry Outlook - The report indicates that industry demand is expected to maintain a high growth trajectory through 2025, with new players likely to emerge in the 400G and 800G segments [5]. - The company has established a robust supply chain management mechanism to address material bottlenecks, ensuring adequate supply for future production [5].

证券代码：002281 证券简称：光迅科技 公告编号：（2024）058 武汉光迅科技股份有限公司 公司董事、高管胡强高先生及公司高管徐勇先生、向明女士、卜勤练先生、 张军先生保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 武汉光迅科技股份有限公司（以下简称"公司"）于 2024 年 8 月 31 日披露 了《关于部分董事、高管减持股份的预披露公告》（公告编号：(2024)040）， 公司董事、高管胡强高先生及公司高管徐勇先生、向明女士、卜勤练先生、张军 先生计划在本减持计划公告之日起 15 个交易日之后的 3 个月内以集中竞价方式 减持其持有的部分公司股份。本次拟减持的股份合计不超过 230,000 股，即不超 过公司目前总股本的 0.0290%。 关于董事、高管减持计划实施完毕的公告 截至本公告日，公司董事、高管胡强高先生及公司高管徐勇先生、向明女士、 卜勤练先生、张军先生本次减持计划已实施完毕，根据《上市公司股东减持股份 管理暂行办法》《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自 律监管指 ...

证券代码：002281 证券简称：光迅科技 公告编号：（2024）057 武汉光迅科技股份有限公司 股票交易异常波动公告 4、公司及控股股东、实际控制人不存在关于本公司的应披露而未披露的重 大事项。 5、公司控股股东、实际控制人在本公司股票交易异常波动期间未买卖本公 司股票。 三、是否存在应披露而未披露信息的说明 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、股票交易异常波动的情况介绍 武汉光迅科技股份有限公司（以下简称"公司"或"本公司"）股票于 2024 年10月30日、2024年10月31日连续两个交易日收盘价格涨幅累计偏离20.04%， 根据《深圳证券交易所交易规则》的有关规定，属于股票交易异常波动。 二、公司关注、核实情况 针对公司股价异常波动，公司董事会通过电话等方式，向公司控股股东、实 际控制人及管理层就相关问题进行了核实，现将核实情况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 2、公司未发现近期公共传媒报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息。 3、近期公司经营状况正常，内外部经营环境未发生重大变化。 ...

Investment Rating - The report maintains a "Recommended" rating for the company [2][4]. Core Insights - The company's Q3 2024 performance exceeded expectations, with revenue reaching 5.378 billion yuan, a year-on-year increase of 24.29%, and a net profit attributable to shareholders of 464 million yuan, up 12.26% year-on-year [2]. - The significant growth in Q3 2024 was driven by high demand for data communication optical modules, particularly due to AI-related needs, which also improved the company's profitability [2]. - The company has a comprehensive product matrix in the data communication field, including advanced technologies such as the 1.6T optical module, positioning it well for future growth opportunities [2]. Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 5.378 billion yuan, with a net profit of 464 million yuan, and a non-recurring net profit of 454 million yuan, reflecting year-on-year growth rates of 24.29%, 12.26%, and 29.97% respectively [2]. - In Q3 2024 alone, revenue was 2.268 billion yuan, showing a year-on-year increase of 49.99% and a quarter-on-quarter increase of 24.68% [2]. - The gross margin for Q3 2024 was 25.10%, up 3.19 percentage points year-on-year, while the net profit margin was 11.16%, showing a slight year-on-year decrease of 0.43 percentage points [2]. Future Projections - The company is projected to achieve net profits of 708 million yuan, 1.104 billion yuan, and 1.505 billion yuan for the years 2024, 2025, and 2026 respectively, with corresponding price-to-earnings ratios of 46, 30, and 22 [2][5]. - The anticipated growth in the data communication market, driven by AI and other emerging technologies, is expected to provide significant opportunities for the company [2].

申万宏源证券承销保荐有限责任公司（以下简称"申万宏源承销保荐"或"保 荐机构"）作为武汉光迅科技股份有限公司（以下简称"光迅科技"、"公司"） 持续督导工作的保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证券 交易所上市公司自律监管指引第 13 号——保荐业务》《深圳证券交易所上市公 司自律监管指引第 1 号——主板上市公司规范运作》等有关规定，对光迅科技补 充预计 2024 年度日常关联交易的事项进行了尽职调查，具体如下： 一、补充预计关联交易基本情况 申万宏源证券承销保荐有限责任公司 关于武汉光迅科技股份有限公司 补充预计 2024 年度日常关联交易的核查意见 （一）关联交易概述 公司于 2024 年 5 月 31 日召开的第七届董事会第十七次会议及 2024 年 6 月 18 日召开的 2024 年第一次临时股东大会审议通过了《关于预计 2024 年度日常 关联交易的议案》，2024 年全年拟与实际控制人中国信息通信科技集团有限公司 及其实际控制的公司之间发生日常性关联交易金额不超过人民币 280,001.70 万 元（不含税）。预计关联交易未构成《上市公司重大资产重组管理办法》规定的 重大资产重 ...