| 证券代码：002475 | 证券简称：立讯精密 | 公告编号：2026-022 | | --- | --- | --- | | 债券代码：128136 | 债券简称：立讯转债 | | 立讯精密工业股份有限公司 关于首次回购公司股份的公告 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、误导性陈述或重大遗漏。 立讯精密工业股份有限公司（以下简称"公司"）于 2025 年 12 月 31 日召开第 六届董事会第二十一次会议，审议通过了《关于以集中竞价交易方式回购公司股份 方案的议案》，同意公司使用自有资金或自筹资金（含股票回购专项贷款资金等）以 集中竞价交易方式回购公司股份。在本次回购股份价格上限为人民币 86.96 元/股的 条件下，若按回购总金额上下限和回购股份价格上限测算，预计可回购股份数量为： 11,499,540 股至 22,999,080 股，占公司目前总股本比例为：0.16%至 0.32%。具体 回购数量及回购金额以回购期满或回购完毕时实际回购的股份数量和回购金额为准。 本次回购股份实施期限自公司股东会审议通过回购股份方案之日起不超过 12 个月， 回购完成后的股份将全 ...

格隆汇2月23日｜立讯精密(002475.SZ)公告称，公司于2026年2月13日首次通过股份回购专用证券账户 以集中竞价方式回购公司股份990.06万股，占公司总股本的0.14%，最高成交价为50.91元/股，最低成交 价为50.14元/股，成交总金额为4.99亿元（不含交易费用）。本次回购股份资金来源为公司自筹资金(含 股票回购专项贷款资金等)，回购价格未超过86.60元/股。本次回购符合相关法律法规及公司既定的股份 回购方案的要求。 ...

Core Viewpoint - Shenzhen has transformed from a small fishing village into a global innovation hub, showcasing its technological prowess and commitment to becoming a benchmark for China's socialist development model [1][25]. Group 1: Historical Context and Development - The establishment of the Shekou Industrial Zone in 1979 marked the beginning of Shenzhen's transformation, symbolized by the phrase "Time is Money, Efficiency is Life" to attract investment [2][4][31]. - The founding of Huawei in 1987 by Ren Zhengfei in Shekou highlights the entrepreneurial spirit that emerged during this period, leveraging initial capital from Hong Kong [4][28]. Group 2: Industry Growth and Key Players - Foxconn, established by Terry Gou in 1988, became the world's largest electronics manufacturing services provider, benefiting from Shenzhen's cost advantages and industrial ecosystem [6][31]. - Shenzhen's EMS capabilities have empowered global tech innovation, with companies like Foxconn, Luxshare Precision, and BYD Electronics playing significant roles in the supply chain [9][33]. Group 3: Current Trends and Future Outlook - Shenzhen is positioning itself as a leader in AI and robotics, with over 2,600 AI enterprises and projected revenue of approximately 220 billion yuan by 2025 [15][39]. - The "Robot Valley" in Shenzhen is emerging as a global innovation center for robotics, supported by a robust ecosystem of over 74,000 related enterprises and numerous educational institutions [19][39]. Group 4: Commercial Landscape - Huaqiangbei, known as "China's Electronics First Street," hosts a vast network of businesses and attracts over 7,000 foreign visitors daily, reflecting its significance in the global electronics market [11][35]. - The area is characterized by a practical and efficient business model, enabling startups to thrive, including notable companies like Ugreen Technology and Transsion Holdings [12][36].

根据弗若斯特沙利文的资料，按2024年收入计，公司在精密智造解决方案(PIMS)行业中排名全球第四、中国内地第一，并在消费电子、汽车电子、通信与数 据中心等各主要业务线均处于全球领先地位；在全球精密智造解决方案提供商中，公司拥有最全面及最多元化的产品组合。公司通过持续的卓越表现，于 2023年至2025年连续三年跻身《财富》世界500强榜单。 招股书显示，立讯精密是一家全球领先的精密智造创新科技公司。公司致力于为消费电子、汽车电子、通信与数据中心和其他领域的全球客户提供从精密零 组件、模组到系统的跨领域垂直一体化开发与智造解决方案。 智通财经APP获悉，立讯精密工业股份有限公司(简称：立讯精密(002475.SZ))于2025年8月18日所递交的港股招股书满6个月，于2026年2月18日失效，递表 时中信证券、高盛、中金公司为其联席保荐人。 ...

智通财经APP获悉，立讯精密工业股份有限公司(简称：立讯精密(002475.SZ))于2025年8月18日所递交的港股招股书满6个月，于2026年2月18日失效，递表 时中信证券、高盛、中金公司为其联席保荐人。 根据弗若斯特沙利文的资料，按2024年收入计，公司在精密智造解决方案(PIMS)行业中排名全球第四、中国内地第一，并在消费电子、汽车电子、通信与数 据中心等各主要业务线均处于全球领先地位；在全球精密智造解决方案提供商中，公司拥有最全面及最多元化的产品组合。公司通过持续的卓越表现，于 2023年至2025年连续三年跻身《财富》世界500强榜单。 招股书显示，立讯精密是一家全球领先的精密智造创新科技公司。公司致力于为消费电子、汽车电子、通信与数据中心和其他领域的全球客户提供从精密零 组件、模组到系统的跨领域垂直一体化开发与智造解决方案。 ...

Investment Rating - The investment outlook for the Chinese electronic components industry is stable, with overall credit quality expected to remain unchanged over the next 12 to 18 months [5][8]. Core Insights - The industry is driven by the recovery in consumer electronics, rapid growth in automotive electronics, and advancements in artificial intelligence, with traditional consumer electronics providing basic demand support but limited impact on overall growth [15][21]. - The industry is expected to gradually transition towards high-end products, with leading companies leveraging their high-end capacity and technological advantages to maintain a competitive edge [15][21]. - The overall credit risk in the electronic components industry is manageable, with no significant changes in ratings and no instances of bond extensions or defaults reported [22]. Industry Fundamentals Analysis - In 2025, domestic policies such as "trade-in" programs effectively boosted demand in the downstream market, helping to stabilize the electronic components industry amid fluctuating international trade conditions and tariff policies [9][11]. - The global competition landscape in the electronic components sector has remained stable, with significant growth in revenue and profits across various sub-sectors, although operating cash flow has declined [7][22]. - The industry is expected to see substantial order growth driven by automotive electronics and AI demand, with potential for upward adjustments in industry outlook if favorable conditions persist [7][8]. Credit Performance of Industry Enterprises - The financial performance of enterprises within the electronic components industry has improved, with revenue and profit growth reported, although operating cash flow has decreased [22][27]. - The average revenue growth for sample enterprises in the electronic components sector was 27.14% year-on-year, with significant contributions from AI-related demands [27][28]. - The debt scale of sample enterprises increased, but the overall financial leverage remains low, indicating good debt repayment capabilities [34][35].

一开始，这个案件看似是一起关于侵权的普通诉讼，但实际上却暴露了美国企业与美国政府联合施压的一个典型例子，试图通过行政手段削弱中国企业的市 场竞争力。我们曾经看到华为、中兴等企业也经历过类似的遭遇，它们被美国当局与私企联手进行打压，但立讯精密与那些企业不同，它的情况似乎更为复 杂且具有耐性。 经过一年多的调查，最终ITC的裁决结果出乎意料地宣布，安费诺的指控完全站不住脚，被彻底驳回。于是，立讯精密在这一波联手围攻中成功挺了过来。 那么，问题来了，为什么这家企业能够在美国政府与企业的双重压力下，最终全身而退呢？难道拜登政府的对华政策有所改变？ 答案并不复杂，首先，立讯精密作为一个精密制造商，其核心竞争力并不完全依赖于尖端技术，而是建立在中国制造业的优势基础上。可以说，它本质上只 是一个代工厂，和美国的技术巨头并没有直接的技术对抗，所以美国的制裁措施，对它的影响远没有对华为和中芯国际那样深远。 ITC，全名美国国际贸易委员会，是一个专门为美国企业利益护航的机构，特别是通过打压外国企业，维护本国市场的利益。事实上，ITC的任务就是要盯 住那些可能威胁到美国企业竞争力的国际公司。而就在拜登总统上台的第二天，ITC就宣布 ...

Core Viewpoint - The article highlights the increasing trend of cash dividends among listed companies in the Shenzhen market, with a significant rise in the number of companies distributing dividends and the total amount of cash dividends paid out, reflecting a positive outlook on corporate performance and a commitment to returning value to shareholders [3][4]. Summary by Sections Dividend Distribution Trends - Since December 2025, nearly 120 companies in the Shenzhen market have implemented profit distributions, totaling over 37.5 billion yuan in cash dividends [3]. - In 2025, the total cash dividends distributed by Shenzhen companies reached 547.56 billion yuan, marking the second consecutive year exceeding 500 billion yuan [3]. - During the "14th Five-Year Plan" period, the total cash dividends from Shenzhen companies surpassed 2 trillion yuan, indicating a growing ecosystem of companies willing to distribute dividends regularly [3]. Corporate Performance - As of January 31, 2026, 1,714 out of 2,866 Shenzhen companies pre-disclosed their 2025 operating performance, accounting for 59.39% of the total number of companies and 48.48% of market capitalization [3]. - Nearly 60% of these companies reported improved performance, with a combined net profit of 82.01 billion yuan, an increase of 155.67 billion yuan year-on-year [3]. - Among the top 100 companies by market capitalization in Shenzhen, 40 companies pre-disclosed their 2025 performance, all of which are expected to be profitable, with anticipated growth exceeding 60% [3]. Notable Companies and Their Dividends - Lixun Precision (002475.SZ) announced a cash dividend of 1.6 yuan per 10 shares, totaling approximately 1.165 billion yuan, with a projected net profit for 2025 between 16.518 billion yuan and 17.186 billion yuan, reflecting a year-on-year growth of 23.59% to 28.59% [5]. - Tianshan Aluminum (002532.SZ) implemented a cash dividend of 1 yuan per 10 shares, totaling about 459 million yuan, with a commitment to a minimum cash dividend of 50% of the net profit attributable to shareholders for 2025, up from 41% in 2024 [5]. - Yilian Network (300628.SZ) distributed a cash dividend of 5 yuan per 10 shares, amounting to 633 million yuan, maintaining a high dividend payout ratio of over 50% of its net profit [6]. - GoerTek (002241.SZ) distributed a cash dividend of 1.5 yuan per 10 shares, totaling approximately 521 million yuan, and has established a long-term stable dividend policy through a rolling planning mechanism [7].

Core Viewpoint - The article highlights the increasing trend of cash dividends among listed companies in the Shenzhen market, particularly as the Chinese New Year approaches, with a significant number of companies distributing cash dividends to shareholders, reflecting their strong financial performance and commitment to returning value to investors. Group 1: Cash Dividends in Shenzhen Market - Since December 2025, nearly 120 companies in the Shenzhen market have implemented profit distributions, totaling over 37.5 billion yuan [1] - In 2025, Shenzhen companies distributed a total of 547.56 billion yuan in cash dividends, marking the second consecutive year of exceeding 500 billion yuan [1] - During the "14th Five-Year Plan" period, the total cash dividends distributed by Shenzhen companies surpassed 2 trillion yuan, indicating a growing ecosystem of companies willing to distribute dividends regularly [1] Group 2: Performance and Dividend Distribution - As of January 31, 2026, 1,714 out of 2,866 companies in the Shenzhen market pre-disclosed their 2025 operating performance, with nearly 60% showing improvement [1] - The pre-disclosed companies collectively achieved a net profit of 82.01 billion yuan, an increase of 155.67 billion yuan year-on-year [1] - Among the top 100 companies by market capitalization in Shenzhen, 40 companies pre-disclosed their 2025 performance, all of which are expected to be profitable with a projected growth of over 60% [1] Group 3: Private Enterprises and Dividend Trends - Approximately 70 of the companies that distributed dividends since December 2025 are private enterprises, accounting for about 60% of the total [2] - Leading companies like Luxshare Precision and Tianshan Aluminum have actively announced dividend distributions, reflecting their confidence in business growth and commitment to rewarding investors [2] - Luxshare Precision announced a cash dividend of 1.6 yuan per 10 shares, totaling approximately 1.165 billion yuan, with a projected net profit growth of 23.59% to 28.59% for 2025 [2] Group 4: Specific Company Dividend Policies - Tianshan Aluminum plans to distribute a cash dividend of 1 yuan per 10 shares, totaling approximately 459 million yuan, with a commitment to a minimum cash dividend of 50% of the net profit for 2025 [3] - Yilian Network, a typical "cash cow" on the Growth Enterprise Market, distributed a cash dividend of 5 yuan per 10 shares, totaling 633 million yuan, maintaining a high dividend payout ratio [4] - The company has a policy ensuring that cash distributions will not be less than 20% of the annual distributable profits, which has resulted in a cumulative cash dividend of over 8.5 billion yuan since its listing [4]

Core Viewpoint - The article highlights the trend of A-share listed companies implementing cash dividends ahead of the Spring Festival, indicating a shift towards a "return-focused" market environment driven by regulatory policies and improved corporate governance [2][6]. Group 1: Cash Dividends Overview - As of February 11, 57 A-share listed companies have implemented cash dividends totaling 409.11 billion yuan since February [2]. - Notable companies such as Changjiang Electric Power and Darentang have announced significant cash dividends, with Changjiang Electric Power distributing over 51 billion yuan [3][4]. - From December 1, 2025, to February 11, 2026, 289 A-share companies have distributed cash dividends amounting to 3,896.83 billion yuan, reflecting a year-on-year growth of approximately 13% [4]. Group 2: Industry Insights - The financial and consumer sectors continue to dominate cash dividends, with banks accounting for 8 out of the top 10 companies by total dividend amount [4]. - The total cash dividends from 19 listed banks reached 2,627.34 billion yuan, representing 67% of the total dividends during the specified period [4]. - In the food and beverage sector, 23 listed companies have distributed cash dividends totaling 494.84 billion yuan, with leading firms like Kweichow Moutai and Wuliangye contributing significantly [5]. Group 3: Regulatory Influence - Recent policies, including the new "National Nine Articles," have emphasized the importance of cash dividends, encouraging companies to enhance dividend stability and predictability [6][7]. - The China Securities Regulatory Commission has advocated for multiple dividends per year and pre-dividend announcements to improve investor returns [6]. - The Shanghai and Shenzhen Stock Exchanges are promoting initiatives to enhance cash dividend policies and increase the frequency of cash distributions [7].