广东通宇通讯股份有限公司 2024 年度独立董事述职报告 （独立董事 梁士伦） 各位股东及股东代表： 本人作为广东通宇通讯股份有限公司（以下简称"公司"）的第五届董事会独立董事， 担任薪酬与考核委员会的主任委员，并兼任提名委员会的委员，在 2024 年度（以下简 称"本年度"）工作中严格按照《公司法》、《公司章程》以及《广东通宇通讯股份有限 公司独立董事工作制度》等有关法律、法规的规定，勤勉、尽责、积极发挥独立董事的 独立作用，积极出席相关会议，认真审议董事会各项议案，对公司重大事项发表了独立 意见，切实维护了公司利益，较好的发挥了独立董事的监督作用。本人经公司于 2024 年 8 月 15 日召开的 2024 年第二次临时股东大会审议通过，增补为第五届董事会独立董 事。 现就本人 2024 年度任职期间履行独立董事职责情况汇报如下： 一、独立董事基本情况 （一）工作履历、专业背景及兼职情况 梁士伦先生：男，1966 年 11 月出生，中国国籍，无境外永久居留权，中共党员， 经济学博士。现任电子科技大学中山学院教授、校学术委员会副主任、校科协副主席， 兼任中山市经济研究院院长、中山市改革发展研究会会长、中山市 ...

根据《上市公司独立董事管理办法》《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引第 1 号——主板上市公司规范运作》等要求， 广东通宇通讯股份有限公司（以下简称"公司"）董事会，就公司在任独立董事曹 瑜强先生、储昭立先生、梁士伦先生的独立性情况进行评估并出具如下专项意见： 公司独立董事曹瑜强先生、储昭立先生、梁士伦先生严格遵守《中华人民共 和国公司法》《上市公司治理准则》和《上市公司独立董事管理办法》等法律法 规以及《广东通宇通讯股份有限公司章程》对独立董事独立性的相关要求，持续 保持独立性，在 2024 年度不存在影响独立性的情形。 广东通宇通讯股份有限公司董事会 关于独立董事 2024 年度独立性自查情况的专项意见 广东通宇通讯股份有限公司董事会 2025 年 4 月 24 日 ...

2024 年度独立董事述职报告 （独立董事 储昭立） 各位股东及股东代表： 本人作为广东通宇通讯股份有限公司（以下简称"公司"）的第五届董事会独立董事， 担任提名委员会主任委员，并兼任战略委员会、审计委员会委员，在 2024 年度（以下 简称"本年度"）工作中严格按照《公司法》、《公司章程》以及《广东通宇通讯股份有 限公司独立董事工作制度》等有关法律、法规的规定，勤勉、尽责、积极发挥独立董事 的独立作用，积极出席相关会议，认真审议董事会各项议案，对公司重大事项发表了独 立意见，切实维护了公司利益，较好的发挥了独立董事的监督作用。现就本人 2024 年 度履行独立董事职责情况汇报如下： 广东通宇通讯股份有限公司 一、独立董事基本情况 （一）工作履历、专业背景及兼职情况 本人储昭立，中国国籍，无境外居留权，重庆大学工业管理工程第二学位班毕业， 理学、工学双学士学历，管理学硕士学位。1992 年 6 月至 2000 年 4 月，就职于重庆商 社（集团）有限公司，历任业务经理、集团董事会秘书（其间：1997 年 6 月至 1998 年 9 月 借调到中国平安保险集团公司董事会秘书处工作）；2000 年 4 月至 20 ...

本人戴建君，中国国籍，无境外永久居留权，大学学历、注册会计师，拥有多年会 计师从业经历。1993 年 10 月至 1999 年 12 月，本人先后担任立信会计师事务所审计人 员、潘陈张联合会计师事务所审计部经理、上海高信会计师事务所审计部经理，2000 年至今担任上海新高信会计师事务所有限公司董事。2023 年 1 月至 2024 年 10 月任本公 司独立董事。 广东通宇通讯股份有限公司 2024 年度独立董事述职报告 （独立董事 戴建君） 各位股东及股东代表： 本人作为广东通宇通讯股份有限公司（以下简称"公司"）的第五届董事会独立董事， 担任审计委员会的主任委员，并兼任薪酬与考核委员会的委员，在 2024 年度（以下简 称"本年度"）工作中严格按照《公司法》、《公司章程》以及《广东通宇通讯股份有限 公司独立董事工作制度》等有关法律、法规的规定，勤勉、尽责、积极发挥独立董事的 独立作用，积极出席相关会议，认真审议董事会各项议案，对公司重大事项发表了独立 意见，切实维护了公司利益，较好的发挥了独立董事的监督作用。因个人原因，本人于 2024 年 10 月正式辞去公司第五届董事会独立董事及各专门委员会中相关职务 ...

Financial Data and Indicators - The basic earnings per share for Q1 2025 is 0.0214 yuan, representing a 75.41% increase compared to Q1 2024's 0.0122 yuan, but a decrease from Q1 2023's 0.0853 yuan [1] - The net profit for Q1 2025 is 0.11 billion yuan, which is a 120% increase from Q1 2024's 0.05 billion yuan, but a decrease from Q1 2023's 0.34 billion yuan [1] - The return on equity for Q1 2025 is 0.40%, showing a significant increase of 135.29% from Q1 2024's 0.17%, but a decrease from Q1 2023's 1.24% [1] - The total operating revenue for Q1 2025 is 2.51 billion yuan, reflecting a 6.36% increase from Q1 2024's 2.36 billion yuan [1] Shareholder Information - The top ten unrestricted shareholders hold a total of 10,576.8 million shares, accounting for 33.7% of the circulating shares, with an increase of 927,500 shares compared to the previous period [1] - Wu Zhonglin holds 3,412.58 million shares, representing 10.87% of the total share capital, with an increase of 1,960.02 thousand shares [2] - Shi Guiqing holds 2,864.27 million shares, accounting for 9.13% of the total share capital, with no change [2] - The company will not distribute dividends or bonus shares in this period [3]

Financial Performance - The company's basic earnings per share decreased by 50% from 0.16 to 0.08 yuan [1] - The net profit dropped by 49.38% from 0.81 billion to 0.41 billion yuan [1] - The return on equity fell by 49.32% from 2.92% to 1.48% [1] - Total revenue decreased by 7.73% from 12.94 billion to 11.94 billion yuan [1] - The net asset per share decreased by 23.67% from 6.97 to 5.32 yuan [1] - The undistributed profits per share decreased by 26.56% from 2.41 to 1.77 yuan [1] - The share capital reserve per share decreased by 29.63% from 3.24 to 2.28 yuan [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 10,484.05 million shares, accounting for 33.41% of the circulating shares, with an increase of 2,331.26 million shares compared to the previous period [2] - New entrants among the top shareholders include Chen Huolin with 1,522.03 million shares (4.85%) and Zhang Yuejun with 766.00 million shares (2.44%) [2] - The previous top shareholders who exited include Li Xuefen and Guangdong Tongyu Communications Co., Ltd. [2] Dividend Distribution - The company announced a dividend distribution of 0.25 yuan per share (including tax) [3]

Financial Performance - The company's revenue for Q1 2025 was ¥250,697,062.09, representing a 6.08% increase compared to ¥236,319,280.85 in the same period last year[5] - Net profit attributable to shareholders increased by 128.26% to ¥11,181,979.99 from ¥4,898,715.67 year-on-year[5] - The net profit excluding non-recurring gains and losses rose by 157.91% to ¥3,868,129.13 from ¥1,499,820.95 in the previous year[5] - The basic earnings per share increased by 75.41% to ¥0.0214 from ¥0.0122 year-on-year[5] - Operating profit rose to ¥10,908,015.53, compared to ¥5,658,076.96, marking an increase of 93.3%[19] - The total comprehensive income for the current period was ¥10,707,471.59, significantly higher than ¥4,956,138.75 from the previous period[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,486,045,040.26, a 0.63% increase from ¥3,464,121,781.62 at the end of the previous year[5] - Total assets amounted to ¥3,486,045,040.26, up from ¥3,464,121,781.62, showing a growth of about 0.6%[16] - Total liabilities increased to ¥695,406,747.11 from ¥684,190,960.06, which is an increase of approximately 1.8%[16] - The company's total equity rose to ¥2,790,638,293.15 from ¥2,779,930,821.56, indicating an increase of about 0.4%[16] - The company's short-term borrowings slightly decreased to ¥18,827,384.97 from ¥18,866,585.54, a reduction of about 0.2%[15] Cash Flow - The net cash flow from operating activities improved by 22.66%, reaching -¥63,675,377.88 compared to -¥82,333,462.94 in the same period last year[5] - The net cash flow from operating activities was -¥63,675,377.88, an improvement from -¥82,333,462.94 in the previous period[20] - Cash flow from investment activities generated a net inflow of ¥178,375,940.40, up from ¥77,785,274.40, indicating a strong investment recovery[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 51,820[10] - The largest shareholder, Wu Zhonglin, holds 26.13% of the shares, amounting to 136,503,373 shares[10] Inventory and Receivables - Trade receivables rose to ¥549,733,436.48 from ¥558,519,455.27, indicating a slight decrease of about 1.4%[14] - Inventory increased to ¥271,898,988.19 from ¥241,080,548.67, reflecting an increase of approximately 12.8%[14] Government Support and Investments - The company received government subsidies amounting to ¥4,082,658.68 during the reporting period[6] - The investment income increased by 119.29% to ¥4,076,570.58 from ¥1,858,953.98 year-on-year[9] Market Strategy - The company is focusing on expanding its market presence and developing new technologies, although specific figures were not disclosed in the call[17]

Financial Performance - The company's operating revenue for 2024 was CNY 1,194,002,383.58, representing a decrease of 7.71% compared to CNY 1,293,776,627.85 in 2023[17]. - The net profit attributable to shareholders for 2024 was CNY 41,385,107.67, down 49.03% from CNY 81,187,584.01 in 2023[17]. - Basic earnings per share for 2024 were CNY 0.08, a decrease of 50.00% from CNY 0.16 in 2023[17]. - Total assets at the end of 2024 were CNY 3,464,121,781.62, down 6.75% from CNY 3,714,906,347.64 at the end of 2023[17]. - The net assets attributable to shareholders at the end of 2024 were CNY 2,779,930,821.56, a slight decrease of 0.83% from CNY 2,803,132,590.38 at the end of 2023[17]. - The weighted average return on equity for 2024 was 1.48%, down from 2.91% in 2023[17]. - The company reported a significant increase of 91.59% in net profit attributable to shareholders after deducting non-recurring gains and losses, which amounted to negative CNY 1,656,321.06 in 2024[17]. - The company achieved revenue of approximately 119,400.24 million yuan, a year-on-year decrease of about 7.71%[41]. - The net profit attributable to shareholders was approximately 4,138.51 million yuan, down about 49.00% year-on-year[41]. Cash Flow and Investments - The net cash flow from operating activities was negative CNY 1,516,339.19, an improvement of 96.42% compared to negative CNY 42,403,099.14 in 2023[17]. - The cash flow from operating activities showed a positive trend in Q4, reaching CNY 65.34 million, after a negative cash flow in Q1 of CNY -82.33 million[21]. - Operating cash inflow totaled ¥1,438,186,896.32 in 2024, reflecting a year-on-year increase of 10.16% from ¥1,305,583,400.24 in 2023[69]. - Investment cash inflow reached ¥4,302,701,290.32 in 2024, a 12.34% increase from ¥3,830,069,776.40 in 2023[69]. - The net cash inflow from financing activities decreased by 44.76% to ¥52,838,691.19, while cash outflow increased by 79.14% to ¥116,668,954.75, resulting in a net cash flow from financing activities of -¥63,830,263.56, a decline of 309.08%[70]. Market and Product Development - The company plans to expand its market presence as 5G-A commercial deployment accelerates, with 5G-A being implemented in 100 cities and plans to expand to 300 cities by the end of 2024[29]. - The company is actively expanding its satellite communication product line to meet increasing market demand[42]. - The company is focusing on expanding its product offerings in the 5G sector, with the completion of over 3,500 different 5G frequency bands in integrated small base stations[67]. - The company completed a strategic acquisition of a competitor for $200 million, expected to enhance market share by 15%[7]. - The company is exploring potential mergers and acquisitions to further enhance its competitive position in the market[120]. Research and Development - Research and development (R&D) investment amounted to ¥96,036,140.50 in 2024, a slight increase of 0.35% from ¥95,705,274.42 in 2023, representing 8.04% of operating revenue, up from 7.40%[67]. - The number of R&D personnel increased by 12.37% to 327 in 2024, with a significant rise in master's degree holders by 225.00% to 26[67]. - The company completed the development of a new green high-efficiency low-loss base station antenna, which is expected to enhance brand competitiveness and drive future sales[66]. - A new multi-port passive + active integrated antenna was developed, allowing for simultaneous deployment of multiple frequency networks, thereby reducing the number of antennas needed[66]. Governance and Compliance - The company has established a governance mechanism with independent directors and an audit committee to ensure effective supervision of management[166]. - The company has maintained compliance with regulatory requirements and improved its internal control mechanisms[110]. - The company has a clear asset ownership structure, with no reliance on the controlling shareholder's assets for operations[115]. - The company has implemented a robust information disclosure management system to enhance transparency and protect shareholder rights[109]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[182]. Employee and Management - The total number of employees at the end of the reporting period was 1,856, with 1,643 in the parent company and 213 in major subsidiaries[144]. - The company conducted over 200 training sessions throughout the year, focusing on professional skills, management development, and leadership[146]. - The employee compensation policy aims for steady annual growth, ensuring competitive remuneration within the industry[145]. - The company has established a systematic talent development framework to enhance employee capabilities and organizational skills[146]. Risks and Challenges - The company acknowledges potential risks in future operations as outlined in the management discussion and analysis section of the report[5]. - The company faces risks related to management, overseas market expansion, and investment projects, which it plans to address through organizational adjustments and strategic market adaptations[93][94]. - The company has conducted thorough market research and feasibility analysis for its investment projects, but risks remain due to potential changes in economic environment, national industrial policies, and market demand[96].

6G概念突然爆发。 6G概念爆发 4月18日，A股早盘弱势震荡，午后在金融、地产等板块的带动下发力走高，三大股指一度悉数翻红， 北证50指数大幅拉升，但全A成交额再度萎缩，全日成交不足1万亿元，创年内地量。 6G概念盘中走势强劲，截至收盘，创远信科30%涨停，硕贝德20%涨停，本川智能（300964）涨超 11%，盛路通信（002446）、通宇通讯、海能达等均涨停。 截至收盘，沪指跌0.11%报3276.73点，深证成指涨0.23%报9781.65点，创业板指涨0.27%报1913.97点， 北证50指数涨1.98%，沪深北三市合计成交9493亿元，较昨日减少逾800亿元。 | 代码 | 名称 | � 涨幅% | 现价 | 涨跌 | 采价 | 卖价 | 总量 | | --- | --- | --- | --- | --- | --- | --- | --- | | 831961 | 创远信科 | R 29.98 | 22.85 | 5.27 | 22.85 | | 335041 | | 300322 硕贝德 | | 20.00 R | 13.92 | 2.32 | 13.92 | l | 712440 | | ...

李宏涛 资格编号：S0120524070003 邮箱：liht＠tebon.com.cn 研究助理 [Table_Main] 证券研究报告 | 公司点评 通宇通讯(002792.SZ) 2025 年 04 月 11 日 买入（维持） 所属行业：通信/通信设备 当前价格(元)：12.85 证券分析师 市场表现 沪深300对比 1M 2M 3M -34% -17% 0% 17% 34% 51% 69% 2024-04 2024-08 2024-12 通宇通讯 沪深300 | 绝对涨幅(%) | -16.99 | -15.57 | -7.35 | | --- | --- | --- | --- | | 相对涨幅(%) | -12.06 | -11.32 | -7.42 | | 资料来源：德邦研究所，聚源数据 | | | | 相关研究 1.《通宇通讯(002792.SZ)：5G-A 带来 传统业务新场景，卫星铸就第二增长 曲线》，2024.12.3 通宇通讯(002792.SZ)：全栈布 局初现雏形，参与通信试验卫星 投资要点 请务必阅读正文之后的信息披露和法律声明 事件：2025 年 4 月 1 日 12 时 00 ...