Group 1 - A new company named Shenzhen Shenshi Meitan Green Energy Intelligent Technology Co., Ltd. has been established, focusing on electric vehicle charging infrastructure operations and related services [1] - The legal representative of the company is Zhao Hongda, indicating a structured leadership [1] - The company's business scope includes sales of charging piles, solar power generation technology services, energy storage technology services, power generation technology services, and centralized fast charging stations [1] Group 2 - The company is wholly owned by Shenzhen Shenshi Meitan New Energy Private Equity Fund Partnership (Limited Partnership), showcasing a strong backing from private equity [1] - The private equity fund is jointly held by Shenzhen Shenshi Wanfeng Green Development (Shenzhen) Private Equity Investment Fund Partnership (Limited Partnership) and Mingpu Optoelectronics (002902), indicating a collaborative investment approach [1]

Core Viewpoint - Mingpu Guangci (stock code: 002902) reported a revenue of 806 million yuan for the first half of 2025, a year-on-year increase of 0.84%, while the net profit attributable to shareholders after deducting non-recurring gains and losses was -78 million yuan, indicating a narrowing of losses compared to the same period last year, reflecting a clear improvement in the company's operational status [1][2] Group 1: Business Performance - The company has improved its operational quality and financial health significantly compared to the same period last year, enhancing its growth resilience and laying a solid foundation for long-term value release [1] - The core business of magnetic components achieved a sales growth of 11.9% year-on-year despite market fluctuations, demonstrating effective strategies to reduce negative impacts from market volatility [2][3] Group 2: Market Environment - The AI industry's explosive growth presents significant opportunities for the magnetic components and optical communication markets, driven by both "anti-involution" policies and evolving market demands [2][4] - The global AI server market is expected to reach $158.7 billion by 2025, with China's market projected to reach $56.1 billion, accounting for 42% of the global market, indicating a robust growth trajectory [4] Group 3: Industry Trends - The government's efforts to combat "involution" competition are expected to improve market order and product pricing, which will benefit the profitability of companies in the magnetic components sector [3] - The demand for magnetic components is anticipated to rise due to their essential applications in data centers, which are critical for AI operations [4][6] Group 4: Strategic Initiatives - Mingpu Guangci has launched several new electromagnetic components and optical modules to meet diverse customer needs, including the 800G DR8 optical module and SFP GPON OLT STICK optical module [7] - The company has made a strategic acquisition of 60% of ABB Electric Transportation, enhancing its capabilities in the electric vehicle charging sector and leveraging ABB's established market presence [8][9] Group 5: Future Outlook - The company aims to solidify its leading position in the electromagnetic components and optical communication sectors, with expectations for growth driven by advancements in AI and related technologies [7][12] - Mingpu Guangci's diversification strategy includes expanding into the consumer market with its cycling products, marking a significant shift from its traditional B2B focus [10][12]

Core Viewpoint - Mingpu Optoelectronics (002902) reported an increase in revenue and a reduction in losses for the first half of 2025, indicating a slight improvement in financial performance despite ongoing challenges [1] Financial Performance Summary - Total operating revenue reached 806 million yuan, a year-on-year increase of 0.84% [1] - Net profit attributable to shareholders was -73.04 million yuan, showing a year-on-year improvement of 7.78% [1] - In Q2 2025, operating revenue was 447 million yuan, up 12.6% year-on-year, while net profit attributable to shareholders was -26.07 million yuan, an increase of 53.79% year-on-year [1] Key Financial Metrics - Gross margin was 12.25%, a decrease of 4.5% year-on-year [1] - Net margin was -9.62%, an improvement of 7.26% year-on-year [1] - Total selling, administrative, and financial expenses amounted to 125 million yuan, accounting for 15.48% of revenue, an increase of 5.39% year-on-year [1] - Earnings per share were -0.31 yuan, an increase of 11.43% year-on-year [1] - Operating cash flow per share was -0.16 yuan, a significant improvement of 54.52% year-on-year [1] Cash Flow and Debt Analysis - Cash and cash equivalents increased by 10.21% to 344 million yuan [1] - Accounts receivable decreased by 2.75% to 545 million yuan [1] - Interest-bearing debt rose by 9.76% to 785 million yuan [1] - The net cash flow from operating activities increased by 54.52%, attributed to a reduction in cash paid for goods and services [3] - The net cash flow from investing activities surged by 102.59%, due to an increase in cash received related to investment activities [3] - The net cash flow from financing activities decreased by 80.17%, due to a reduction in cash received from investment [3] Historical Performance Insights - The company's historical return on invested capital (ROIC) has been generally low, with a median ROIC of 5.61% since its listing [3] - The worst year for ROIC was 2024, with a value of -18.18%, indicating poor investment returns [3] - The company has reported losses in three out of its seven annual reports since going public, suggesting a fragile business model [3] Financial Health Indicators - The ratio of cash and cash equivalents to current liabilities is only 36.07%, indicating potential liquidity concerns [4] - The average operating cash flow over the past three years has been negative, raising concerns about the company's ability to meet its obligations [4] - The interest-bearing debt ratio has reached 27.34%, highlighting the company's reliance on debt financing [4]

证券日报网讯 8月19日晚间，铭普光磁发布公告称，公司近日取得一项发明专利证书，发明名称为"一 种外置滤波单纤双向硅光BOX器件"。 （文章来源：证券日报） ...

Core Viewpoint - Dongguan Mingpu Optoelectronics Co., Ltd. has successfully completed the registration and filing procedures for changes in its registered capital, reflecting a strategic adjustment in its financial structure [1] Group 1: Company Registration Changes - The company held the fifth board meeting on April 30, 2025, and the annual shareholders' meeting on May 27, 2025, where it approved the proposal to change the registered capital and amend the Articles of Association [1] - The registered capital before the change was RMB 235,474,762, and the registered capital after the change is RMB 235,500,962, indicating an increase of RMB 26,200 [1] - Other registration details in the business license remain unchanged following the capital adjustment [1]

证券代码：002902 证券简称：铭普光磁 公告编号：2025-072 东莞铭普光磁股份有限公司 关于取得发明专利证书的公告 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。 东莞铭普光磁股份有限公司(以下简称"公司")于近日取得一项中华人民共 和国国家知识产权局颁发的发明专利证书,具体情况如下： 专利号：ZL 2022 1 1213201.0 专利类型：发明专利 专利申请日：2022 年 09 月 30 日 专利权人：东莞铭普光磁股份有限公司 授权公告日：2025 年 08 月 19 日 本发明公开了一种外置滤波单纤双向硅光 BOX 器件，其包括基座、光发射模 块、光滤波模块、适配器、接收端口和传输光纤组件，光发射模块设于基座内， 适配器和光滤波模块均设于基座外，光滤波模块包括壳体、滤波芯片和波导通道， 波导通道包括相互独立的第一通道和第二通道，传输光纤组件包括第一光纤和第 二光纤；光发射模块发射的第一光束通过第一光纤传输至光滤波模块的滤波芯片 后，折射进入第一通道，再通过第二光纤传输至适配器输出；第二光束经适配器 以及第二光纤传输至光滤波模块的滤波芯片后，折 ...

关于完成工商变更登记的公告 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。 东莞铭普光磁股份有限公司(以下简称"公司")分别于 2025 年 4 月 30 日召 开第五届董事会第九次会议、2025 年 5 月 27 日召开 2024 年度股东会，审议通 过了《关于变更公司注册资本及修订<公司章程>的议案》,具体内容详见公司刊 登在指定信息披露媒体上的相关公告。 近日，公司完成了工商变更登记及备案手续，并取得了东莞市市场监督管理 局换发的《营业执照》，相关变更登记情况如下： 证券代码：002902 证券简称：铭普光磁 公告编号：2025-071 东莞铭普光磁股份有限公司 1、东莞铭普光磁股份有限公司《登记通知书》； 2、东莞铭普光磁股份有限公司新换发的《营业执照》。 特此公告。 东莞铭普光磁股份有限公司 董事会 2025 年 8 月 20 日 变更前注册资本：人民币贰亿叁仟伍佰肆拾柒万柒仟零陆拾贰元 变更后注册资本：人民币贰亿叁仟伍佰万零玖仟零陆拾贰元 除上述变更外，公司《营业执照》的其他登记事项均保持不变。 备查文件： ...

Group 1 - The company Mingpu Optoelectronics announced the approval of multiple proposals during the 12th meeting of its fifth board of directors, including the proposal for the 2025 semi-annual report and its summary [2]

格隆汇8月18日丨铭普光磁(002902.SZ)公布半年度报告，报告期内，公司实现营业收入8.06亿元，实现 归属于上市公司股东的净利润-7,303.87万元。经过系统性的优化布局与整合重构，公司在经济周期波动 与下游应用需求变化等多重压力下，实现了运营策略的全面升级。通过构建多维度的战略支持体系，显 著提升了企业经营质量与财务健康度，有效提升了经济韧性，为可持续发展奠定了坚实基础。 ...

Group 1 - The company reported a revenue of 806 million yuan for the first half of 2025, representing a year-on-year growth of 0.84%, while the net profit attributable to the parent company after deducting non-recurring gains and losses was -78 million yuan, indicating a reduced loss compared to the same period last year [1] - The core business of magnetic components achieved a sales growth of 11.9%, further expanding the company's market influence, benefiting from the high demand in the new energy and AI sectors [1] - The government’s guidelines to address "involution" competition and the revision of the Anti-Unfair Competition Law have started to show positive effects on industry governance, which is expected to help the company’s performance recover in the second half of the year [1] Group 2 - The AI market's continuous growth is expected to provide strong momentum for the company's performance in the second half of the year, as the demand for data processing and transmission is surging due to AI's deep penetration into vertical industries [1] - The company’s two core businesses, magnetic components and optical communication products, account for 77.36% of total revenue, and their growth potential is closely linked to the development trends in the AI hardware market [2] - The company has launched several high-performance products, including the 800GDR8 optical module and intelligent DCDU, to meet the increasing performance demands of the AI market [2] Group 3 - The company’s subsidiary, Meitan, launched the CherminR series cycling equipment, which received positive feedback from professionals and consumers [3] - The company completed the acquisition of a 60% stake in ABB Electric Transportation, further solidifying its leading position in the charging pile market [3] - The collaboration with ABB Electric Transportation is expected to enhance business synergy and gradually release scale benefits, contributing to the company's performance growth [3]