Summary of Conference Call Company and Industry - The conference call discusses a leading company in the commercial vehicle intelligence sector, which has shown recovery and growth since hitting a low in 2022. The company is positioned to benefit from European safety standards and increased intelligence in commercial vehicles over the next two to three years [1][2][3]. Key Points and Arguments Revenue Growth - Domestic revenue growth is slowing, while overseas performance remains strong, with nearly 50% growth. Domestic business is expected to remain stable in the next two to three years, focusing on freight and rental sectors [1][2]. - Domestic main business revenue for the first three quarters was approximately 470 million, with a year-on-year growth of less than 10%. In contrast, overseas revenue was about 950 million, with a year-on-year growth of nearly 48% [2][3]. Profit Margins - The company’s gross margin for domestic business is recovering, with a reported increase of over 2 percentage points in the first three quarters. However, the overall gross margin has declined by over 4 percentage points when including other business segments [4][5]. - The overseas gross margin has reached a historical high, while domestic margins are slowly improving due to strategic shifts towards value markets [5][6]. Strategic Shifts - The company is transitioning from a price-driven market to a value-driven market, which is expected to enhance gross margins over time. This shift includes focusing on freight, rental, and public transport sectors, as well as new product innovations in mining machinery and forklifts [3][4][5]. - The company plans to expand its overseas production capacity, particularly in Vietnam, to mitigate tariffs and production costs associated with the US-China trade tensions [8][9]. Regulatory Impact - The introduction of new EU regulations requiring specific safety features in commercial vehicles is expected to have a limited immediate impact on revenue but may open up new markets in the long term [11][12]. - The company is establishing relationships with local manufacturers in Europe to facilitate compliance with these regulations, although current contributions from this segment are minimal [11][12]. Market Opportunities - The global market for freight vehicles is substantial, with over 140 million units, indicating significant growth potential for the company. The company is focusing on expanding its presence in both domestic and international markets [17][18]. - The company is also exploring opportunities in innovative sectors such as mining and electric vehicles, which are expected to contribute to future growth [31][32]. Financial Outlook - The company aims to recover its historical net profit margin of around 15% within the next two to three years, with ongoing efforts to control costs and improve operational efficiency [23][24]. - The management emphasizes a dynamic approach to human resource planning to align personnel growth with business performance, avoiding past issues of overstaffing during downturns [27][28]. Other Important Content - The company is cautious about expanding into the passenger vehicle market, focusing instead on its strengths in commercial vehicles, while still exploring opportunities in electronic rearview mirrors for passenger vehicles [20][21]. - Future strategic planning will include a renewed three-year white paper to outline business opportunities and focus areas, particularly in overseas markets [30][31]. This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting the company's recovery trajectory, market opportunities, and financial outlook.

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 15% compared to the CSI 300 index in the next six months [6][7]. Core Insights - The company reported a significant increase in Q3 performance, with total revenue for the first three quarters reaching 1.918 billion yuan, a year-on-year growth of 55.17%. The net profit attributable to shareholders was 220 million yuan, up 170.8% year-on-year [2][3]. - In Q3 alone, the company achieved a revenue of 766 million yuan, representing a year-on-year increase of 65.79%, and a net profit of 97 million yuan, which is a remarkable year-on-year growth of 360.26% [2][3]. - The company's gross margin for the first three quarters was 39.1%, with a notable improvement in core business gross margin exceeding 50% after excluding low-margin outsourcing operations [2][3]. - The overseas revenue showed strong growth, reaching 956 million yuan in the first three quarters, a 47.9% increase year-on-year, supported by a localized market strategy [2][3]. Summary by Sections Financial Performance - The company’s revenue for 2024 is projected to be 2.306 billion yuan, with a growth rate of 35.68%. The net profit is expected to reach 260 million yuan, reflecting a growth rate of 154.92% [3]. - The gross margin is expected to stabilize around 42.00% in 2024, with a net profit margin projected to improve to 11.27% [3]. Market Position - The company is positioned as a leader in commercial vehicle information technology, with expectations of expanding market share due to low penetration rates and favorable regulatory changes in overseas markets [2][3]. Future Outlook - The report suggests an upward revision of profit forecasts for 2024-2026, with revenues expected to grow to 2.891 billion yuan and 3.527 billion yuan in 2025 and 2026, respectively [2][3].

证券代码：002970 证券简称：锐明技术 公告编号：2024-070 深圳市锐明技术股份有限公司 关于 2022 年股票期权激励计划预留授予第一批次 第二个行权期采用自主行权模式的提示性公告 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。 重要内容提示： 公司 2022 年股票期权激励计划（以下简称"本次激励计划"）预留授予 第一批次期权简称：锐明 JLC3；期权代码：037311； 公司本次激励计划预留授予第一批次第二个行权期符合行权条件的激励 对象共 92 名，可行权的股票期权数量共计 71.60 万份，行权价格为 20.56 元/份； 本次行权采用自主行权模式； 公司本次激励计划预留授予第一批次第二个行权期实际可行权期限为 2024 年 10 月 31 日起至 2025 年 10 月 24 日止； 本次可行权股票期权若全部行权，公司股份分布仍具备上市条件。 深圳市锐明技术股份有限公司（以下简称"公司"）于 2024 年 10 月 22 日 召开第四届董事会第五次会议及第四届监事会第五次会议，分别审议通过了《关 于 2022 年股票期权激励计划预留授予第 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2][9] Core Views - The company has achieved significant revenue and profit growth in the first three quarters of 2024, with revenue reaching 1.918 billion yuan, a year-on-year increase of 55%, and net profit of 220 million yuan, a year-on-year increase of 171% [5][9] - The company is expanding its overseas business with a customized market strategy, establishing local subsidiaries and offices, and enhancing local employee ratios to improve operational proximity [6][9] - The company has improved its research and development efficiency and is controlling expenses effectively, which is expected to accelerate profit release [7][9] Financial Performance - In Q3 2024, the company reported revenue of 766 million yuan, a year-on-year increase of 66%, and net profit of 97 million yuan, a year-on-year increase of 360% [5][9] - The company’s revenue for 2024 is projected to be 2.567 billion yuan, with net profit expected to reach 295 million yuan, and EPS forecasted at 1.68 yuan [8][9] - The gross margin for the core business segments has shown an upward trend, with commercial vehicle monitoring systems at 47.99% and general monitoring products at 62.99% [6][9] Market Comparison - The company’s stock closed at 46.00 yuan, with a market capitalization of 8.086 billion yuan [2][10] - The company is compared favorably against peers, with a projected P/E ratio of 27.45 for 2024, indicating a competitive valuation [10][11]

深圳市锐明技术股份有限公司 审计委员会议事规则 第一章 总则 第一条 为建立和健全深圳市锐明技术股份有限公司（以下简称"公司"）内部控 制制度，提高内部控制能力，确保董事会对经理层的有效监督，完善公司治理结构，根据 《中华人民共和国公司法》（以下简称"《公司法》"）、《深圳市锐明技术股份有限公 司章程》（以下简称"《公司章程》"）、《上市公司治理准则》《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》及其他有关规定，公司特设立董 事会审计委员会（以下简称"审计委员会"），并制定本议事规则。 第二条 审计委员会是董事会依据股东会决议设立的专门工作机构，主要负责公 司内、外部审计的沟通与协调、内部审计的组织、监督审计决议的执行等工作。 第三条 审计委员会成员及其下设工作组成员，应当受本议事规则的约束。 第二章 人员组成 第四条 审计委员会由 3 名董事组成，独立董事过半数，并且其中至少应有一名独 立董事是会计专业人士。审计委员会成员应当为不在公司担任高级管理人员的董事。审 计委员会成员应当具备履行审计委员会工作职责的专业知识和经验。 第五条 审计委员会委员由董事长、二分之一以上独立董事或全 ...

深圳市锐明技术股份有限公司 章程 | 第一章 总则 | 3 | | --- | --- | | 第二章 经营宗旨和范围 | 4 | | 第三章 股份 | 5 | | 第一节 股份发行 5 | | | 第二节 股份增减和回购 6 | | | 第三节 股份转让 7 | | | 第四章 股东和股东会 | 9 | | 第一节 股东 9 | | | 第二节 股东会的一般规定 | 12 | | 第三节 股东会的召集 17 | | | 第四节 股东会的提案与通知 18 | | | 第五节 股东会的召开 21 | | | 第六节 股东会的表决和决议 24 | | | 第五章 董事会 | 30 | | 第一节 董事 30 | | | 第二节 董事会 | 33 | | 第六章 总经理及其他高级管理人员 | 41 | | 第七章 监事会 | 43 | | 第一节 监事 43 | | | 第二节 监事会 | 44 | | 第八章 财务会计制度、利润分配和审计 | 46 | | 第一节 财务会计制度 46 | | | 第二节 内部审计 50 | | | 第三节 会计师事务所的聘任 50 | | | 第九章 通知和公告 | 51 | | ...

证券代码：002970 证券简称：锐明技术 公告编号：2024-066 深圳市锐明技术股份有限公司 关于变更注册资本、修订《公司章程》 并办理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。 深圳市锐明技术股份有限公司（以下简称"公司"）于 2024 年 10 月 22 日 召开了第四届董事会第五次会议，审议通过了《关于变更注册资本、修订<公司 章程>并办理工商变更登记的议案》。 一、修订原因 公司 2022 年股票期权激励计划首次授予、预留授予第二批次的激励对象在 2024 年 5 月 16 日至 2024 年 9 月 30 日期间，采用自主行权模式累计行权数量为 2,972,861 份，公司股份相应增加 2,972,861 股。截至 2024 年 9 月 30 日，公司 注册资本由 172,800,000 股增加至 175,772,861 股。 根据上述变动情况，公司将对注册资本进行相应变更，同时根据 2024 年 7 月 1 日起施行的《中华人民共和国公司法》对《公司章程》部分条款作出修订。 二、《公司章程》修订情况 | | 股东大会将 ...

第三条 独立董事对公司及全体股东负有忠实与勤勉义务。独立董事应当 按照相关法律、行政法规、规范性文件和《公司章程》的要求，认真履行职责， 在董事会中发挥参与决策、监督制衡、专业咨询作用，维护公司整体利益，保护 中小股东合法权益。 独立董事应当独立履行职责，不受公司及其主要股东、实际控制人等单位或 个人的影响。 深圳市锐明技术股份有限公司 独立董事工作制度 第一章 总则 第一条 为进一步完善深圳市锐明技术股份有限公司（以下简称"公司" 或"本公司"）法人治理结构，促进公司的规范运作，根据《中华人民共和国公 司法》（以下简称"《公司法》"）、《深圳市锐明技术股份有限公司章程》 （以下简称"《公司章程》"），并参照中国证券监督管理委员会（以下简称 "中国证监会"）《上市公司独立董事管理办法》《上市公司治理准则》、《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》（以下简 称"《上市公司规范运作》"）《深圳证券交易所股票上市规则》（以下简称 "《股票上市规则》"）的规定，制定本制度。 第二条 独立董事是指不在公司担任除董事外的其他职务，并与公司及其 主要股东、实际控制人不存在直接或者间接利害关系 ...

深圳价值在线咨询顾问有限公司 之 独立财务顾问报告 关于 深圳市锐明技术股份有限公司 2022 年股票期权激励计划预留授予第一批次 第二个行权期行权条件成就相关事项 二〇二四年十月 | | | | 第一章 | 释 义 1 | | --- | --- | | 第二章 | 声 明 3 | | 第三章 | 基本假设 4 | | 第四章 | 本次激励计划已履行的审批程序 5 | | 第五章 | 预留授予第一批次第二个行权期行权情况 11 | | | 一、预留授予第一批次第二个等待期即将届满的说明 11 | | | 二、预留授予第一批次第二个行权期行权条件成就情况说明 11 | | | 三、本次股票期权行权的具体安排 13 | | 第六章 | 独立财务顾问的核查意见 15 | 深圳价值在线咨询顾问有限公司 独立财务顾问报告 第一章 释 义 在本报告中，如无特殊说明，下列简称具有如下含义： | 释义项 | | 释义内容 | | --- | --- | --- | | 锐明技术、本公司、上市 | 指 | 深圳市锐明技术股份有限公司 | | 公司、公司 | | | | 本次激励计划 | 指 | 深圳市锐明技术股份有限公司 2 ...

证券代码：002970 证券简称：锐明技术 公告编号：2024-062 深圳市锐明技术股份有限公司 第四届董事会第五次会议决议公告 具体内容详见与本公告同日于巨潮资讯网(www.cninfo.com.cn)及公司指定 媒体上披露的《2024 年第三季度报告》(公告编号：2024-067)。 本议案已经第四届董事会审计委员会第三次会议审议通过。 本议案以 7 票同意，0 票反对，0 票弃权审议通过。 1 2、审议通过《关于公司 2024 年前三季度利润分配预案的议案》 深圳市锐明技术股份有限公司（以下简称"公司"）第四届董事会第五次会 议于 2024 年 10 月 22 日在公司会议室以现场和通讯相结合的方式召开。本次董 事会会议的通知于 2024 年 10 月 18 日以书面、电子邮件、电话方式通知全体董 事。会议应出席董事 7 名，实际出席董事 7 名。本次董事会会议由董事长赵志坚 先生主持。本次会议的召集和召开符合《中华人民共和国公司法》等国家有关法 律、法规及《深圳市锐明技术股份有限公司章程》的规定，决议合法有效。 二、董事会会议审议情况 经与会董事审议，以投票表决方式通过了以下决议： 1、审议通过《关 ...