Financial Performance - The company's revenue for Q3 2024 was ¥881,252,740.63, representing a decrease of 28.08% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥139,903,557.34, down 6.72% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥136,811,575.93, an increase of 7.55% compared to the same period last year[2]. - Total operating revenue for Q3 2024 was CNY 2,789,707,018.88, a decrease of 22% compared to CNY 3,571,409,031.02 in the same period last year[11]. - Net profit for Q3 2024 was CNY 443,198,634.18, down 24% from CNY 582,586,207.64 year-over-year[12]. - Total comprehensive income for the third quarter was CNY 443,266,746.01, a decrease from CNY 582,668,307.94 in the previous year, representing a decline of approximately 23.9%[13]. - Basic earnings per share for the third quarter were CNY 1.0368, down from CNY 1.3697, indicating a decrease of about 24.3% year-over-year[13]. Assets and Liabilities - The total assets at the end of Q3 2024 were ¥4,902,355,760.64, reflecting a 3.79% increase from the end of the previous year[2]. - The company's total assets increased to CNY 4,902,355,760.64 from CNY 4,723,392,948.53, representing a growth of 4%[10]. - The total liabilities increased slightly to CNY 1,489,864,021.45 from CNY 1,469,526,122.25, showing a growth of about 1.5%[10]. - The company's equity attributable to shareholders increased to CNY 3,381,949,391.65 from CNY 3,221,517,328.29, reflecting a growth of about 5%[10]. Cash Flow - The company’s cash flow from operating activities for the year-to-date period was ¥343,739,654.32, a decrease of 12.65% compared to the previous year[2]. - Net cash flow from operating activities was CNY 343,739,654.32, compared to CNY 393,499,817.41 in the same period last year, reflecting a decline of approximately 12.7%[16]. - Cash inflow from operating activities totaled CNY 3,259,900,812.55, down 18.7% from CNY 4,013,703,335.92 in the previous year[14]. - Cash outflow from operating activities was CNY 2,916,161,158.23, a decrease of 19.4% compared to CNY 3,620,203,518.51 last year[14]. - Cash inflow from financing activities increased to CNY 733,434,597.92, up from CNY 586,666,867.00, marking an increase of approximately 25%[16]. - Cash and cash equivalents at the end of the period were CNY 725,014,560.51, up from CNY 614,185,221.23, indicating an increase of about 18.1%[16]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 39,548[7]. - The company has no significant changes in the participation of major shareholders in margin financing and securities lending[8]. - The top ten shareholders do not have any shares involved in margin financing or securities lending[8]. - There are no preferred shareholders or significant changes in their holdings reported[8]. Investments and Expenses - The company reported a decrease in research and development expenses to CNY 130,120,707.72 from CNY 176,794,220.76, a reduction of approximately 26%[11]. - Long-term equity investments rose to CNY 130,848,662.36, up from CNY 124,196,576.62, indicating a growth of about 5%[9]. - The construction in progress increased by 40.75% to ¥272,938,389.99, primarily due to investments in the poker production base[5]. Other Information - The company has not disclosed any new strategies or future outlook in the provided documents[8]. - There are no updates on new product developments or market expansions mentioned in the reports[8]. - The company has not undergone an audit for the third quarter report[17].

| 证券代码：002605 | 证券简称：姚记科技 | 公告编号：2024-064 | | --- | --- | --- | | 债券代码：127104 | 债券简称：姚记转债 | | | | 上海姚记科技股份有限公司 | | 第六届董事会第十三次会议决议公告 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。 上海姚记科技股份有限公司（以下简称"公司"）第六届董事会第十三次会 议于 2024 年 10 月 20 日以电话、电子邮件等方式发出通知，并于 2024 年 10 月 30 日以通讯表决方式召开。会议应到董事 7 名，实际出席会议的董事 7 名，部 分高级管理人员、监事列席。会议的召开和表决符合有关法律、行政法规、部门 规章、规范性文件和公司章程的规定。会议由董事长姚朔斌先生主持，经全体董 事审议和表决，通过了以下议案： 一、审议通过了《2024 年第三季度报告》，同意 7 票，反对 0 票，弃权 0 票。 具体内容详见公司在巨潮资讯网（www.cninfo.com.cn）及公司指定信息披 露媒体《证券时报》《中国证券报》《上海证券报》同日披露的公司《2 ...

| 证券代码：002605 | 证券简称：姚记科技 | 公告编号：2024-063 | | --- | --- | --- | | 债券代码：127104 | 债券简称：姚记转债 | | | | 上海姚记科技股份有限公司 | | 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。 特别提示： 1、证券代码：002605，证券简称：姚记科技 2、债券代码：127104，债券简称：姚记转债 3、转股价格：20.61元/股 4、转股期限：2024年7月31日至2030年1月24日（如遇法定节假日或休息 日延至其后的第1个工作日） 5、转股股份来源：新增股份 根据《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 指引第15 号——可转换公司债券》的有关规定，上海姚记科技股份有限公司（以 下称"公司"）现将2024年第三季度可转换公司债券转股及公司股份变动情况公 告如下： 一、可转换公司债券发行上市基本情况 关于 2024 年第三季度可转换公司债券转股情况公告 （一）可转换公司债券发行情况 （二）可转换公司债券上市情况 经深圳证券交易所同意，上述可转换公司债券 ...

Investment Rating - The report maintains an "Outperform" rating for the company [3][7][11] Core Views - The company experienced a year-on-year decline in revenue and net profit in the first half of 2024, with revenue at 1.908 billion yuan and net profit at 284 million yuan, representing declines of 18.65% and 30.29% respectively [4][6] - The gaming and digital marketing segments saw significant revenue drops, but there is potential for a rebound in the second half of the year due to lower comparative bases from the previous year [6][7] - The company is focusing on emerging sectors such as card collectibles and has made strategic investments in related businesses, indicating a proactive approach to diversifying revenue streams [6][7] Summary by Sections Financial Performance - In H1 2024, the company reported revenue of 1.908 billion yuan and a net profit of 284 million yuan, with a diluted EPS of 0.66 yuan [4][6] - Q2 2024 saw revenue of 927 million yuan and a net profit of 133 million yuan, with a diluted EPS of 0.32 yuan [4][6] - The gaming business generated 513 million yuan in revenue, down 27.28% year-on-year, while the digital marketing business brought in 879 million yuan, down 20.29% [6][7] Business Segments - The gaming segment remains stable with popular titles in both domestic and international markets, although revenue has declined due to high comparative bases and product cycles [6][7] - The card business is expanding, with investments in platforms for sports and cultural collectibles, positioning the company favorably in this emerging market [6][7] Future Outlook - The company forecasts net profits of 667 million yuan, 752 million yuan, and 803 million yuan for 2024, 2025, and 2026 respectively, with corresponding diluted EPS of 1.62 yuan, 1.82 yuan, and 1.95 yuan [7][9] - The current stock price corresponds to a PE ratio of 13, 11, and 11 for the years 2024, 2025, and 2026, indicating a reasonable valuation [7][9]

[Table_Title] 姚记科技(002605.SZ)24 年中报点评：游戏 证券研究报告 公司研究 收入阶段性下滑，扑克牌募投项目稳步推进 [Table_ReportType] 公司点评 [Table_StockAndRank] 姚记科技(002605.SZ) 投资评级 上次评级 [Table_A 冯翠婷 uthor 传媒互联网及海外 ] 首席分 析师 邮 箱 ： fengcuiting@cindasc.com [Table_OtherReport] 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大 厦B座 邮编：100031 [Table_ReportDate] 2024 年 8 月 23 日 [Table_S 事件：姚记科技 ummary](002605.SZ)于 2024 年 8 月 20 日发布 2024 年上半年业 绩。24H1 公司实现营收 19.08 亿元，同比-18.65%；归母净利 2.84 亿元， 同比-30.29%；扣非净利 2.69 亿元，同比-32.05%。24H1 公司整体实现毛 利率 36.77%，同比-0.4 ...

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company's performance in the first half of 2024 met expectations, with notable growth in overseas business despite a year-on-year decline in overall profit [2][3] - The company is expected to improve its profitability in the second half of 2024 as production capacity for playing cards increases and new game products are launched [3] Summary by Relevant Sections Financial Performance - For the first half of 2024, the company reported revenue of 1.908 billion yuan, a year-on-year decrease of 18.65%, and a net profit attributable to shareholders of 284 million yuan, down 30.29% [3] - The second quarter of 2024 saw revenue of 927 million yuan, a quarter-on-quarter decline of 5.58% and a year-on-year decline of 19.96% [3] - The company's playing card business remained stable, generating revenue of 491 million yuan, a year-on-year decrease of 4.72% [3] Business Segments - The mobile gaming segment experienced a revenue decline of 27.28%, totaling 513 million yuan, while the digital marketing segment saw a revenue drop of 20.29%, amounting to 879 million yuan [3] - The gross margin for the playing card business improved to 30.45%, an increase of 4.42 percentage points year-on-year [3] Overseas Business Growth - The company's overseas revenue reached 103 million yuan, a significant year-on-year increase of 148.82%, driven by the expansion of its game product line in international markets [3] Future Projections - The report forecasts earnings per share (EPS) for 2024, 2025, and 2026 to be 1.56 yuan, 1.86 yuan, and 2.19 yuan respectively, with a target price of 30.05 yuan based on a 20x price-to-earnings ratio for 2024 [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is expected to see a recovery in its main business, driven by the improvement in the gaming product cycle and sustained growth in the poker business [2][4] - The company reported a decline in revenue and net profit for the first half of 2024, primarily due to the gaming product cycle and reduced advertising demand [2] - The forecast for net profit from 2024 to 2026 is projected to be 7.08 billion, 7.86 billion, and 8.54 billion respectively, with corresponding EPS of 1.72, 1.91, and 2.07 [2][5] Financial Performance Summary - In H1 2024, the company achieved revenue of 19.08 billion (down 18.65% YoY) and a net profit of 2.84 billion (down 30.29% YoY) [2] - The gaming business revenue was 5.13 billion (down 27.28% YoY), while the digital marketing business revenue was 8.79 billion (down 20.29% YoY) [2] - The gross margin for H1 2024 was 36.77% (down 0.41 percentage points YoY), with Q2 2024 gross margin at 35.71% (down 4.62 percentage points YoY) [3] Business Development Insights - The company has a strong focus on R&D and technical advantages across its three main business segments, which are expected to gradually recover [4] - The poker production base project is progressing well, with over 1.5 billion raised for construction, which is anticipated to enhance the poker business's gross margin [3][4] - The company has developed an intelligent system to improve efficiency in its marketing business [4]

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。 根据中国证券监督管理委员会《上市公司监管指引第 2 号——上市公司募集 资金管理和使用的监管要求（2022 年修订）》（证监会公告〔2022〕15 号）、《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》以及《深 圳证券交易所上市公司自律监管指南第 2 号——公告格式》的相关规定，上海姚 记科技股份有限公司（以下简称"公司"）就 2024 年 1-6 月募集资金存放与使用 情况作如下专项报告： 一、 募集资金基本情况 （一）向不特定对象发行可转换公司债券 经中国证券监督管理委员会"证监许可[2023]1120 号"《关于同意上海姚记 科技股份有限公司向不特定对象发行可转换公司债券注册的批复》的同意注册， 公司获准于2024年1月25日向不特定对象发行5,831,273 张可转换公司债券（以 下简称"可转债"），每张面值 100 元，发行总额为人民币 58,312.73 万元，期 限 6 年。经深圳证券交易所（以下简称"深交所"）同意，公司可转债于 2024 年 2 月 26 日起在深交所挂 ...

| 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司的关联 | 上市公司核算 | 2024 年期初 | 2024 年度 1 至 6 月 | 2024 年度 1 至 6 | 2024 年度 1 至 6 | 2024 年 6 月 末占用资金 | 占用形成原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 关系 | 的会计科目 | 占用资金余 | 占用累计发生金额 | 月占用资金的利 | 月偿还累计发生 | | | | | | | | | 额 | （不含利息） | 息(如有) | 金额 | 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 | ...

| 证券代码：002605 | 证券简称：姚记科技 | 公告编号：2024-061 | | --- | --- | --- | | 债券代码：127104 | 债券简称：姚记转债 | | | | 上海姚记科技股份有限公司 | | 第六届董事会第十二次会议决议公告 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。 上海姚记科技股份有限公司（以下简称"公司"）第六届董事会第十二次会 议于 2024 年 8 月 10 日以电话、电子邮件等方式发出通知，并于 2024 年 8 月 20 日以通讯表决方式召开。会议应到董事 7 名，实际出席会议的董事 7 名，部分高 级管理人员、监事列席。会议的召开和表决符合有关法律、行政法规、部门规章、 规范性文件和公司章程的规定。会议由董事长姚朔斌先生主持，经全体董事审议 和表决，通过了以下议案： 具体内容详见公司指定信息披露网站巨潮资讯网（www.cninfo.com.cn）以及 公司在指定信息披露媒体《证券时报》《中国证券报》《上海证券报》同日披露的 《2024 年半年度募集资金存放与使用情况的专项报告》。 三、审议通过了《关于修 ...