Investment Rating - The report maintains a "Strong Buy" rating for the company, with a target price of 7 CNY, compared to the current price of 4.95 CNY [2]. Core Insights - The company reported a significant increase in both revenue and profit for the first half of 2024, achieving a revenue of 9.52 billion CNY, a year-on-year growth of 23.1%, and a net profit of 910 million CNY, up 24% [2]. - The LED business continues to show high demand, with the LED segment contributing significantly to the company's growth, particularly in the semiconductor and COB display sectors [3]. - The company's gross margin for the first half of 2024 was 17.7%, with the LED business achieving a gross margin of 31.5%, indicating a strong profitability trend [3]. - Future expectations are positive, with anticipated cost reductions in Mini LED technology expected to further enhance profitability [3]. Summary by Sections Financial Performance - In H1 2024, the traditional audio-visual business generated 6.94 billion CNY in revenue, a 20.9% increase year-on-year, while the LED business generated 2.58 billion CNY, a 29.4% increase [3]. - The net profit from the semiconductor segment reached 1.37 billion CNY, reflecting a 57.3% increase, with a net profit margin of 27.6% [3]. - The company’s net profit margin improved to 10.4% in H1 2024, up 0.4 percentage points year-on-year [3]. Future Projections - The report adjusts the EPS forecast for 2024-2026 to 0.48 CNY, 0.59 CNY, and 0.70 CNY respectively, reflecting a positive outlook for earnings growth [3]. - The company is expected to maintain a high growth trajectory in the LED sector, supported by ongoing investments and market demand [3]. Valuation Metrics - The projected PE ratios for 2024, 2025, and 2026 are 10, 8, and 7 respectively, indicating a favorable valuation compared to expected earnings growth [4].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][2] Core Views - The company reported strong growth in LED driver profitability, with a significant increase in revenue and net profit for the first half of 2024 [1] - Revenue for Q2 2024 reached 54.1 billion yuan, a 34% year-on-year increase, while net profit attributable to shareholders was 4.96 billion yuan, up 41.3% [1] - The company expects continued growth in its multimedia and LED supply chain, driven by new production from its Vietnam factory and increased orders from major clients [1] Revenue Analysis - For H1 2024, total revenue was 95.2 billion yuan, a 23% increase year-on-year, with net profit attributable to shareholders at 9.1 billion yuan, up 24% [1] - The multimedia audio-visual business is expected to contribute significantly, with Q2 revenue growth projected at 52% [1] - The LED supply chain is anticipated to see a 21% year-on-year increase in Q2, with a shipment volume of approximately 320 million units [1] Profit Analysis - The LED supply chain contributed significantly to profits, with a gross margin increase of 0.1 percentage points year-on-year in Q2 2024 [1] - The net profit margin improved by 0.5 percentage points, supported by a reduction in comprehensive expense ratios [1] - The company expects the profit margin from LED products to offset the decline in TV gross margins [1] Earnings Forecast - The company updated its earnings forecast, projecting revenues of 214 billion, 252 billion, and 290 billion yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 25%, 18%, and 15% [1][2]

罗丽云女士（简历详见附件）已经取得深圳证券交易所颁发的董事会秘书资格 证书，具备相关的专业能力，其任职资格符合《深圳证券交易所股票上市规则》等 相关规定。 罗丽云女士的联系方式如下： 电话：0755-33614068 传真：0755-33614256 证券代码：002429 证券简称：兆驰股份 公告编号：2024-039 深圳市兆驰股份有限公司 关于聘任证券事务代表的公告 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。 深圳市兆驰股份有限公司（以下简称"公司"）于 2024 年 8 月 2 日召开第六届 董事会第十四次会议，审议通过了《关于聘任证券事务代表的议案》，同意聘任罗 丽云女士为公司证券事务代表，协助董事会秘书履行职责，任期自本次董事会审议 通过之日起至本届董事会任期届满之日止。 二〇二四年八月六日 附件：罗丽云女士个人简历： 罗丽云女士，1985年出生，中国国籍，无境外永久居留权，工商管理硕士学 位，于2017年12月取得深圳证券交易所颁发的董事会秘书资格证书。曾任深圳市超 频三科技股份有限公司证券事务代表、证券部经理，广东维尔科技股份有限公司证 券 ...

深圳市兆驰股份有限公司 第六届董事会第十四次会议决议的公告 证券代码：002429 证券简称：兆驰股份 公告编号：2024-036 本议案已经公司董事会审计委员会审议通过。 2. 以 8 票同意、0 票反对、0 票弃权，审议通过了《关于聘任证券事务代表的 议案》。 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。 一、 董事会会议召开情况 深圳市兆驰股份有限公司（以下简称"公司"）第六届董事会第十四次会议通 知于二〇二四年七月二十三日以电子邮件方式发出，会议于二〇二四年八月二日上 午 10:00 在深圳市龙岗区布澜路 128 号兆驰集团大厦 B 座 5 楼会议室以现场及通讯 方式召开，应参加会议董事 8 人，实际参加会议董事 8 人。会议由董事长顾伟先生 主持，公司监事和高管列席了本次会议。本次会议的召集、召开符合《公司法》及 《公司章程》的相关规定。 二、 董事会会议审议议案情况 出席会议的董事逐项审议并经记名投票方式表决通过了如下决议： 1. 以 8 票同意、0 票反对、0 票弃权，审议通过了《关于公司 2024 年半年度报 告及摘要的议案》； 具体内容详见 ...

| 编制单位：深圳市兆驰股份有限公司 | | | | | | | | | 单位：人民币万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | | 上市公司核算的会 | 2024半年度期初 | 2024半年度占用累 | 2024半年度占用 | 2024半年度偿还 | 2024半年度期末 占用形成原因 | 占用性质 | | | | 占用方与上市公司的关联关系 | 计科目 | 占用资金余额 | 计发生金额 （不含利息） | 资金的利息 （如有） | 累计发生金额 | 占用资金余额 | | | 控股股东、实际控制人及其附属企业 | | | | | | | | | 非经营性占用 | | | | | | | | | | | 非经营性占用 | | 小 计 | - | - | - | | | | | | - | | 前控股股东、实际控制人及其附属企业 | | | | | | | | | 非经营性占用 | | | | | | | | | | | 非经营性占用 | | 小 计 | - | - | - | | ...

深圳市兆驰股份有限公司 2024 年半年度报告全文 1 深圳市兆驰股份有限公司 Shenzhen MTC Co., Ltd. 2024 年半年度报告 2024 年 8 月 6 日 深圳市兆驰股份有限公司 2024 年半年度报告全文 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、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人顾伟、主管会计工作负责人严志荣及会计机构负责人(会计主 管人员)吴䶮昊声明：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。 公司存在的风险详细内容见本报告"第三节 管理层讨论与分析 十、公 司面临的风险和应对措施"，敬请广大投资者注意。 本报告中所涉及的发展战略、经营计划等前瞻性陈述属于计划性事项， 该计划不构成公司对投资者的实质承诺，投资者及相关人士均应当对此保持 足够的风险认识，并且应当理解计划、预测与承诺之间的差异，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 深圳市兆驰股份有限公司 2024 ...

证券代码：002429 证券简称：兆驰股份 公告编号：2024-037 具体内容详见公司同日在巨潮资讯网（www.cninfo.com.cn）披露的《2024 年半 年度报告》《2024 年半年度报告摘要》。 出席会议的监事审议并经记名投票方式表决通过了如下决议： 1. 以 3 票同意、0 票反对、0 票弃权，审议通过了《关于公司 2024 年半年度报 告及摘要的议案》； 经审核，监事会认为董事会编制和审核公司 2024 年半年度报告及其摘要的程 序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了 公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 本公司及监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。 一、 监事会会议召开情况 深圳市兆驰股份有限公司（以下简称"公司"）第六届监事会第九次会议通知 于二〇二四年七月二十三日以电子邮件方式发出，会议于二〇二四年八月二日上午 11:30 在深圳市龙岗区布澜路 128 号兆驰集团大厦 B 座 5 楼会议室以现场及通讯方 式召开，应参加会议监事 3 人，实际参加会议监事 3 人。会议由监事会主席 ...

证券代码：002429 证券简称：兆驰股份 深圳市兆驰股份有限公司 投资者关系活动记录表 编号：2024-004 | --- | --- | |------------|--------------------------------------| | | □ 特定对象调研 □ | | | □ 媒体采访 □ | | 投资者关系 | | | | □ 新闻发布会 □ | | 活动类别 | | | | ■ 现场参观 | | | □ 其他 （现场调研） | | 参与单位名 | | | 称及人员 | 35 家机构 47 | | 姓名 | | | 时间 | 2024 年 7 月 24 日 | | 地点 | 南昌 | | 上市公司 | 兆驰晶显总经理：张海波 | | 接待人员 | 兆驰半导体 CTO：胡加辉 | | 姓名 | 兆驰股份副总经理兼董事会秘书：单华锦 | 本次调研以现场参观的方式举行，交流的主要内容如下： (一) 兆驰半导体持续保持领先的原因是什么？ 在 2017 年-2018 年间，LED 芯片行业在技术升级、设备迭代方面 的速度放缓，行业开始进入大生产、大制造时代，同时随着小间距产 投资者关系 品逐渐打开市 ...

证券代码：002429 证券简称：兆驰股份 公告编号：2024-035 深圳市兆驰股份有限公司 关于为下属子公司申请综合授信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、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一、 担保情况概述 1、保证人：深圳市兆驰股份有限公司 深圳市兆驰股份有限公司（以下简称"公司"）分别于 2024 年 4 月 11 日、2024 年 5 月 9 日召开第六届董事会第十一次会议、2023 年年度股东大会，审议通过了 《关于为下属子公司申请综合授信提供担保的议案》，同意公司为下属子公司向银 行/金融机构等申请综合授信提供担保，担保金额为不超过人民币 782,000 万元，具 体担保金额、方式、范围、期限等以相关合同约定为准，担保额度可在子公司之间 按照实际情况调剂使用，担保额度有效期限自公司 2023 年年度股东大会审议通过 之日起至 2024 年年度股东大会召开之日止。具体内容详见公司于 2024 年 4 月 13 日、2024 年 5 月 10 日在巨潮资讯网（www.cninfo.com.cn）上披露的《关于为下属 子公司申请综合授信提供担保的公告》 ...

Summary of Conference Call Notes Company and Industry Overview - The conference call pertains to Zhaochi Co., a company operating in the LED and television manufacturing industry, focusing on various segments including multimedia audio-visual products, chips, packaging, and backlight modules [1][2]. Key Points and Arguments Performance Highlights - In the first half of the year, multimedia audio-visual products, particularly televisions, accounted for approximately 70% of the company's revenue, while the LED segment is expected to contribute over 50% of total profits in the second half [2][2]. - The chip business generated over 25% of profits, showing continuous improvement compared to the previous year [2][2]. - The average selling price of chips increased from approximately 200 yuan per unit to nearly 250 yuan per unit, indicating significant potential for value enhancement [2][2]. Television Business Operations - The television business showed steady growth in the first half, with a year-on-year increase in shipment volume despite initial challenges from overseas factors and shipping logistics [3][3]. - Approximately 540,000 televisions were shipped in the first half, reflecting a 4% increase year-on-year, with a notable acceleration in growth during the second quarter [14][14]. Strategic Adjustments - The company shifted focus to producing 1.5mm pitch products to attract customers initially interested in 1.8mm or higher pitch products, aiming to drive growth in the indoor small pitch market [4][4]. - To mitigate the impact of rising shipping costs, the company has implemented a localized supply chain strategy, including assembling components in North America to avoid tariff risks [5][5]. Shipping and Trade Challenges - The shipping cost increase primarily affected exports to North America, leading to a temporary delay in orders. However, as shipping costs normalized, customer willingness to place orders improved [5][5]. - The company has been proactive in preparing for potential changes in international trade policies, including increasing production capacity in Vietnam to enhance resilience against market fluctuations [7][7]. LED Industry Insights - The LED chip sector remains competitive, with a focus on cost-effectiveness due to rapid technological innovation and high levels of product homogeneity [10][10]. - The company has established a vertically integrated production model in Nanchang, enhancing production efficiency and expanding into high-end chip markets through partnerships, such as with Samsung [11][12]. Future Outlook - The backlight business has grown from 10% to over 15% of total revenue, with expectations to reach 20% as global television production is projected to hit around 200 million units [18][18]. - The company aims to align the target gross margin of the backlight segment with that of its premium business, potentially exceeding 30% [18][18]. Market Strategy and Production Capacity - The company plans to focus on new market launches for products with a pitch of 1.56mm and above, adjusting pricing strategies to optimize order volumes [16][16]. - Production capacity is set to increase significantly, with the addition of 100 new production lines expected to enhance daily output to 20,000 square meters by September [15][15]. Brand and Supply Chain Management - The company will continue to collaborate closely with clients for brand building while maintaining a focus on market demand and price adjustments in high-margin segments [18][18]. - The production strategy involves pre-manufacturing standardized products to ensure high operational efficiency, with plans to manage inventory effectively [18][18].