[Table_Finance] 公司盈利预测及估值 ble_Title] 评级：买入(维持) 市场价格：18.68 指标 2022A 2023A 2024E 2025E 2026E 营业收入（百万元） 2,117 2,425 2,815 3,252 3,684 增长率 yoy% 17% 15% 16% 16% 13% 净利润（百万元） 730 745 897 1,038 1,206 增长率 yoy% 43% 2% 20% 16% 16% 每股收益（元） 0.83 0.84 1.02 1.18 1.37 每股现金流量 0.36 0.77 0.76 1.04 1.22 净资产收益率 28% 27% 32% 33% 33% P/E 22.6 22.1 18.4 15.9 13.7 P/B 6.2 6.0 5.8 5.2 4.5 备注：股价取自 2024 年 04 月 25 日 [Table_Profit] 基本状况 总股本(百万股) 882 流通股本(百万股) 433 市价(元) 18.68 市值(百万元) 16,482 流通市值(百万元) 8,090 美亚光电（002690.SZ） /机械设备 证券研究报告/公司 ...

Financial Performance - The company's operating revenue for Q1 2024 was ¥331,400,004.80, a decrease of 18.57% compared to ¥406,964,645.20 in the same period last year[15] - Net profit attributable to shareholders for Q1 2024 was ¥100,900,473.07, down 19.30% from ¥125,032,072.76 year-on-year[15] - The total operating costs for the period were RMB 224,639,809.38, down from RMB 267,578,566.10 in the previous period, indicating a decrease of about 16.02%[28] - The operating profit for the quarter was RMB 119,272,980.23, down from RMB 146,693,682.61 in the previous year, a decrease of about 18.73%[28] - The total comprehensive income for the period was RMB 77,751,141.83, compared to RMB 130,433,697.15 in the prior year, representing a decline of approximately 40.43%[30] - The company's basic earnings per share for the quarter were RMB 0.1146, down from RMB 0.1423 in the previous year, a decrease of about 19.36%[30] Cash Flow - The net cash flow from operating activities was -¥56,559,795.05, a significant decline of 6,788.99% compared to ¥845,565.26 in Q1 2023[15] - The company's cash flow from investment activities increased by 51.45% to ¥190,257,241.15 compared to ¥125,624,859.86 in Q1 2023[19] - The company reported a cash inflow from financing activities of CNY 10,624,897.60, contrasting with a cash outflow of CNY 14,865,209.02 in the same period last year[52] Assets and Liabilities - Total assets at the end of Q1 2024 were ¥3,366,150,614.25, a decrease of 1.71% from ¥3,424,730,365.09 at the end of the previous year[15] - The company's total assets amounted to CNY 3,366,150,614.25, slightly down from CNY 3,424,730,365.09 in Q1 2023[52] - The total liabilities amount to CNY 3.37 billion, with short-term borrowings and accounts payable being key components[46] - Total liabilities decreased to CNY 559,072,696.99 from CNY 665,652,224.50 year-over-year[52] Shareholder Information - The total number of common shareholders at the end of the reporting period is 25,066, with the largest shareholder, Tian Ming, holding 60.91% of shares, totaling 537,462,900 shares[41] - The company has a total of 134,365,725 unrestricted shares held by Tian Ming, the largest shareholder[41] - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 8.29% of shares, totaling 73,158,062 shares[41] Other Financial Metrics - The company's financial expenses increased significantly to -¥23,047,210.99, a change of -687.58% compared to the previous year due to increased exchange gains[18] - Investment income for Q1 2024 was ¥1,328,832.88, up 34.79% from ¥985,870.90 in the same period last year[18] - The company experienced a financial income of RMB 13,480,580.77, compared to RMB 11,596,805.21 in the previous year, marking an increase of approximately 16.24%[28] - The company reported a government subsidy of RMB 4,409,940.66 during the period, contributing positively to the financial results[38] Receivables and Inventories - Other receivables rose significantly by 285.68% to ¥26,033,249.30, primarily due to an increase in unreimbursed deposits and service fees[11] - Accounts receivable stand at CNY 532.98 million, while inventory is valued at CNY 486.97 million, reflecting an increase from the previous period[46] - The company reported a significant increase in contract liabilities, which rose to CNY 81.20 million from CNY 49.41 million in the previous period[46] Research and Development - Research and development expenses for the quarter were RMB 24,970,715.89, slightly up from RMB 24,081,995.59 in the previous year, indicating an increase of about 3.70%[28] Equity - The total equity attributable to shareholders increased to CNY 2,807,077,917.26 from CNY 2,759,078,140.59 in the previous year[52] - The total equity attributable to shareholders is not explicitly stated but can be inferred from the total assets and liabilities[46] Audit Status - The company has not audited the Q1 2024 report[55]

天律意 2024 第 00813 号 致：合肥美亚光电技术股份有限公司 根据《中华人民共和国公司法》(下称"《公司法》")、《中华人民共和国 证券法》（下称"《证券法》"）、《上市公司股东大会规则》和《合肥美亚光 电技术股份有限公司章程》（下称"《公司章程》"）的有关规定，安徽天禾律 师事务所接受合肥美亚光电技术股份有限公司（下称"公司"）的委托，指派本 所李军、吕光律师出席公司 2023 年年度股东大会（下称"本次股东大会"）， 并对本次股东大会相关事项进行见证，出具法律意见。 本所同意将本法律意见书作为本次股东大会的公告文件，随公司其他文件一 并报送有关主管部门审查并予以公告。 法律意见书 安徽天禾律师事务所 关于合肥美亚光电技术股份有限公司 2023 年年度股东大会法律意见书 本所根据《证券法》的要求，按照律师行业公认的业务标准、道德规范和勤 勉尽责精神对本次股东大会相关事项进行了见证，现对本次股东大会的召集、召 开及其他相关事项发表如下意见： 一、关于本次股东大会的召集、召开程序 （一）经查验，公司董事会于 2024 年 3 月 30 日以公告方式在《证券时报》 和巨潮资讯网（http：//www.c ...

证券代码：002690 证券简称：美亚光电 公告编号：2024-013 合肥美亚光电技术股份有限公司 2023年年度股东大会决议公告 1、本次股东大会未出现否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 合肥美亚光电技术股份有限公司（以下简称"公司"）董事会于2024年03 月30日在《证券时报》、巨潮资讯网（http://www.cninfo.com.cn）上刊登了《关 于召开2023年年度股东大会的通知》。 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、会议召开情况 （1）会议召开时间 现场会议时间：2024 年 4 月 23 日下午 14:30 网络投票时间： 通过深圳证券交易所交易系统进行网络投票的具体时间为 2024 年 4 月 23 日 上午 9:15—9:25、9:30－11:30 和下午 13:00－15:00。 通过深圳证券交易所互联网投票系统投票的具体时间为 2024 年 4 月 23 日上 午 9:15 至下午 15:00。 （2）现场会议召开地点：合肥市高新技术产业开发区 ...

合肥美亚光电技术股份有限公司 章程 二〇二四年四月 目 录 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第四章 股东和股东大会 第一节 股东 第二节 股东大会的一般规定 第三节 股东大会的召集 第四节 股东大会的提案与通知 第五节 股东大会的召开 第六节 股东大会的表决和决议 第五章 董事会 第一节 董事 第二节 董事会 第六章 总经理及其他高级管理人员 第七章 监事会 第一节 监事 第二节 监事会 第八章 财务会计制度、利润分配和审计 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 第九章 通知与公告 第一节 通知 第二节 公告 第十章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十一章 修改章程 第十二章 附则 第一章 总则 第一条 为维护合肥美亚光电技术股份有限公司（以下简称"公司"）、股东 和债权人的合法权益，规范公司的组织和行为，根据《中华人民共和国公司法》 （以下简称《公司法》）、《中华人民共和国证券法》（以下简称《证券法》）和 其他有关规定，制订本章程。 第二条 ...

合肥美亚光电技术股份有限公司 证券代码：002690 证券简称：美亚光电 公告编号：2024-014 债权申报所需材料：公司债权人可持证明债权债务关系存在的合同、协议 及其他凭证的原件及复印件到公司申报债权。债权人为法人的，需同时携带法 人营业执照副本原件及复印件、法定代表人身份证明文件；委托他人申报的， 除上述文件外，还需携带法定代表人授权委托书和代理人有效身份证的原件及 复印件。债权人为自然人的，需同时携带有效身份证的原件及复印件；委托他 人申报的，除上述文件外，还需携带授权委托书和代理人有效身份证件的原件 及复印件。 债权申报具体方式如下： 关于回购注销部分已授予限制性股票减资 暨通知债权人的公告 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、误导性陈述或者重大遗漏。 合肥美亚光电技术股份有限公司（以下简称"公司"）第五届董事会第七 次会议、第五届监事会第六次会议以及2023年年度股东大会，分别审议通过了 《关于回购注销部分限制性股票的议案》。 鉴于首次及预留授予的激励对象中共有3名激励对象已离职，其中，首次授 予部分激励对象离职人数3名，预留授予部分激励对象离职人数3名（本次首次 ...

证券研究报告：机械设备|公司点评报告 最新收盘价（元） 19.16 52 周内最高/最低价 32.69 / 15.50 第一大股东 田明 个股表现 研究所 ⚫ 事件描述 公司基本情况 总市值/流通市值（亿元）169 / 83 市盈率 22.65 增持|维持 资料来源：聚源，中邮证券研究所 美亚光电(002690) 公司发布 2023 年年度报告，全年实现营收 24.25 亿元，同增 14.55%；实现归母净利润 7.45 亿元，同增 2.02%；实现扣非归母净利 润 6.95 亿元，同减 1.14%。 ⚫ 事件点评 Q4 单季度营收增速达 24%，为全年最高的增速。分季度来看，公 司 Q1-Q4 分别实现营收 4.07、5.60、6.90、7.68 亿元，同比增速分 别为 1.26%、11.54%、15.87%、24.39%，Q4 营收增速为全年最高。 色选机/CBCT 稳健增长，工业检测设备正快速放量。分产品来看， 公司色选机、CBCT、工业检测设备分别实现收入 14.76、7.56、1.57 亿元，同比增速分别为 19.44%、5.51%、60.98%。其中，CBCT 仅实现 个位数增长，主要原因为行业出 ...

基础数据： 美亚光电 002690 其他专用机械/专用设备/机械设备 医疗设备新品值得期待 当前股价 18.59 元 事件：公司发布2023年年报：2023公司实现营收24.25亿元，同比增长 投资评级 增持 14.55%；归母净利润7.45亿元，同比增长2.02%；扣非归母净利润6.95 评级变动 维持 总股本 8.82 亿股 亿元，同比下降1.14%；经营活动产生的现金流量净额6.75亿元，同比 流通股本 4.33 亿股 大幅增长113.75%。 总市值 164 亿元 分分析析师师：XXX 相对市场表现： ◆全年营收逐季提升，收入构成保持稳定。2023公司实现营收24.25亿 元，同比增长14.55%；归母净利润7.45亿元，同比增长2.02%。分季度 看，2023年Q1-Q4营收分别为4.07/5.60/6.90/7.68亿元，同比增速分别为 1.26%/11.54%/15.87%/24.39%。分板块看，色选机、医疗设备、X射线 工业检测机的营收分别为14.76/7.56/1.57亿元，占营收比重分别为 60.87%/31.17%/6.47%，同比增速分别为19.44%/5.51%/60.98%。 ◆ ...

2023Q4 收入加速增长 24.39%，医疗影像新品储备多 | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------|-----------------------------------------------|------------------------|-------|-------|-------|-------| | ble_Title] 评级：买入(维持) [Table_Industry] \n市场价格： 19.35 | [Table_Finance] 公司盈利预测及估值 \n指标 | 2022A | 2023A | 2024E | 2025E | 2026E | | 分析师：王可 | 营业收入（百万元） | 2,117 | 2,425 | 2,815 | 3,252 | 3,684 | | | 增长率 yoy% | 17% | 15% | 16% | 16% | 13% | | 执业证书编号： S0740519080001 ...

Financial Performance - The company reported a profit distribution plan of CNY 7 per 10 shares, totaling CNY 880,330,400 for all shareholders[11]. - In 2023, the company achieved a non-recurring profit of CNY 50,109,415.58, compared to CNY 27,408,947.29 in 2022, marking an increase of approximately 83.5%[25]. - The company's operating revenue for 2023 reached ¥2,425,394,367.14, representing a 14.55% increase compared to ¥2,117,255,683.31 in 2022[44]. - Net profit attributable to shareholders was ¥744,834,380.64, a 2.02% increase from ¥730,112,737.04 in the previous year[44]. - The net cash flow from operating activities increased significantly by 113.75%, reaching ¥675,345,531.69 compared to ¥315,953,616.92 in 2022[44]. - The company achieved a basic earnings per share of ¥0.8459, up 2.06% from ¥0.8288 in 2022[44]. - Total assets at the end of 2023 were ¥3,424,730,365.09, reflecting a 3.31% increase from ¥3,314,919,654.11 at the end of 2022[44]. - The company achieved significant growth in its core business, focusing on performance, reliability, and cost, leading to increased market share and sales volume[64]. - The company achieved a total revenue of 2.425 billion yuan, representing a year-on-year growth of 14.55%[92]. - Net profit for the period was 745 million yuan, with a year-on-year increase of 2%[92]. Product Development and Innovation - The company launched several new products, including the industry-first UV color sorter and UHD deep learning color sorter, enhancing sorting performance and reliability[32]. - The company emphasized its commitment to R&D innovation, aligning closely with market demands to drive product development[32]. - The company launched several high-end medical imaging products, including oral CBCT and mobile head CT, enhancing its market competitiveness[51]. - The new "Meiya Dental" digital health cloud platform was introduced to support the digital transformation of the dental industry[57]. - The company is focusing on the development of intelligent detection solutions in the industrial inspection sector, which is expected to grow significantly due to increasing demand for real-time safety checks[80]. - The company is developing a digital platform for oral health, which is expected to drive high-quality business development in the future[128]. - The company has several key R&D projects, including a deep learning acceleration technology and a high-precision intraoral scanning device, both of which are expected to enhance market competitiveness[128]. Market Expansion and Strategy - The company has expanded its business into three main sectors: agricultural product testing, medical imaging, and industrial testing, showing continuous growth in high-end medical imaging[18]. - The company is focusing on expanding its presence in the industrial inspection sector, with multiple series of products already on the market[53]. - The company has established a stable and efficient marketing service network, with sales reaching over 100 countries and regions globally[61]. - The color sorting machine business showed strong growth in both domestic and international markets, with a notable increase in market share due to competitive product performance and flexible sales strategies[65]. - The company has diversified its product offerings across three main sectors: food safety, medical health, and recycling, with products sold in over 100 countries[81]. - The company has a strong market presence, exporting products to over 100 countries and regions globally, enhancing its competitive advantage[116]. Research and Development - The company invested 148.695 million yuan in R&D, marking a 21.31% increase compared to the previous year[91]. - The number of R&D personnel is 20.91% of the total workforce, with a slight decrease in the proportion of master's degree holders[127]. - The company holds 112 valid invention patents and has been recognized as a national innovative enterprise, indicating strong capabilities in technology and innovation[70]. Financial Management and Investments - The company reported a government subsidy of CNY 19,688,839.03 in 2023, down from CNY 28,035,188.10 in 2022[24]. - The company recorded a gain from the disposal of non-current assets amounting to CNY 14,190.17 in 2023, a significant recovery from a loss of CNY 7,023,330.20 in 2022[24]. - The company’s cash flow from operating activities reached 675 million yuan, showing a significant increase of 113.75%[92]. - The cash inflow from operating activities increased by 11.26% to ¥2,469,223,205.09, while cash outflow decreased by 5.75%[129]. - The company’s total cash and cash equivalents at the end of the year were CNY 1,419,808,075.85, representing 41.46% of total assets[131]. - The company’s fixed assets increased slightly by 0.05% compared to the beginning of the year, totaling CNY 476,056,605.14[131]. Operational Risks and Compliance - The company is actively addressing potential operational risks and has outlined corresponding countermeasures in its future development outlook[11]. - The company’s financial statements were audited by Da Hua Certified Public Accountants, ensuring accuracy and compliance[22]. - The company’s board of directors and supervisory board are actively involved in overseeing the company’s operations and compliance with regulations[178]. - The company has no discrepancies between net profit and net assets reported under foreign accounting standards and Chinese accounting standards[175]. Legal and Regulatory Matters - The company has been involved in a legal case regarding the infringement of trade secrets, with a court ruling requiring the defendant to pay 21.01 million RMB in damages[189]. - The company has not classified any non-recurring gains and losses as recurring gains and losses[176]. Shareholder and Capital Management - No significant changes in major shareholders during the reporting period, with all new entries holding 0.00% of total shares[199]. - The total number of shares lent out under the margin trading system remains at 0, indicating no outstanding shares to be returned[199].