Core Viewpoint - The report from Cinda Securities indicates that ChenZhan Optoelectronics achieved a net profit attributable to shareholders of 112 million yuan in the first half of 2025, representing a year-on-year decrease of 13.85% [1] Group 1: Company Overview - ChenZhan Optoelectronics is a provider of commercial human-machine interaction intelligent terminal solutions, with product offerings including touch all-in-one machines, touch displays, various smart self-service terminals, and embedded modules [1] - The company's ODM business model provides customized products and services to global clients, covering product design, hardware and software selection, manufacturing, and validation [1] Group 2: Business Development - Following the acquisition of MicroTouch™ in 2020, the company has been developing its own brand and has gradually established and improved its agent channels globally, leading to increased brand recognition [1] - MicroTouch™ is now independently developing under an overseas subsidiary model, enhancing the synergy with the group [1] Group 3: Strategic Partnerships - The company has invested in Hongtong Technology to enter the smart cockpit business, which has been providing high-quality touch display assembly solutions to automotive manufacturers in Europe, America, and China since 2017, demonstrating strong competitiveness in the mid-to-high-end market [1] - A partnership with Satogate has been established to explore new scenarios for encrypted payments [1]

证券研究报告 公司研究 [Table_ReportType] 公司点评报告 [Table_StockAndRank] 宸展光电(003019.SZ) 投资评级 上次评级 [Table_A 宿一赫 uthor 中小市值] 首席 执业编号：S1500524080004 联系电话：15721449682 邮 箱：suyihe@cindasc.com 张洪滨 中小市值研究助理 联系电话：18916616659 邮 箱：zhanghongbin@cindasc.com 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_Title] 宸展光电2025年半年报点评：三大业务协同发展， 切入加密支付新场景 [Table_ReportDate] 2025 年 8 月 28 日 [Table_S 事件：公司披露 ummary] 2025 年半年报。2025H1 公司实现营收 11.96 亿元，同比 -8.64%；实现归母净利润 1.12 亿元，同比-13.85%；实现扣非归母净利润 0.90 亿元，同比-26.63%。 点评 ...

Core Viewpoint - The financial performance of Chanzhan Optoelectronics (003019) for the first half of 2025 shows a decline in revenue and net profit compared to the previous year, with significant increases in expenses impacting overall profitability [1][2]. Financial Performance Summary - Total revenue for the first half of 2025 was 1.196 billion yuan, a decrease of 8.64% year-on-year [1]. - Net profit attributable to shareholders was 112 million yuan, down 13.85% year-on-year [1]. - The gross margin was 23.92%, an increase of 1.51% year-on-year, while the net margin decreased to 9.26%, down 5.14% year-on-year [1]. - The total of selling, administrative, and financial expenses reached 125 million yuan, accounting for 10.42% of total revenue, which is a 52.34% increase year-on-year [1]. - Earnings per share (EPS) decreased to 0.62 yuan, down 19.48% year-on-year, while the net asset value per share increased to 9.08 yuan, up 9.58% year-on-year [1]. Cash Flow Analysis - Operating cash flow per share increased significantly by 225.91% to 0.85 yuan, attributed to reduced cash payments for goods and services due to lower revenue [1][2]. - The net cash flow from investing activities decreased by 157.61%, influenced by a reduction in redeemed financial products [2]. - The net cash flow from financing activities increased by 98.35%, due to the previous year's stock buyback and cash payments for mergers [2]. Business Evaluation - The company's return on invested capital (ROIC) for the previous year was 8.92%, indicating average capital returns [3]. - The historical median ROIC since the company's listing is 16.36%, suggesting better investment returns in the past [3]. - Analysts expect the company's performance for 2025 to reach 223 million yuan, with an average EPS forecast of 1.27 yuan [3]. Segment Performance - In Q1 2025, the company achieved a revenue of 622 million yuan, with the ODM business segment contributing nearly 60% of total revenue, while the MicroTouch brand contributed 10% and the smart cockpit segment contributed around 30% [3].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：003019证券简称：宸展光电公告编号：2025-058 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，宸展光电（厦门）股份有限公司（以下简称"公司"或"本公司"）就2025年半年度募集资金存放与使 用情况作如下专项报告： 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会《关于核准宸展光电（厦门）股份有限公司首次公开发行股票的批复》(证 监许可[2020]2652号)核准，本公司由主承销商海通证券股份有限公司采用公开发行方式发行人民币普通 股（A股）3,200.00万股（每股面值1元），发行价格为每股23.58元，募集资金总额为人民币 754,560,000.00元，扣除承销费等 ...

Core Viewpoint - The company, Chanzhan Optoelectronics (003019.SZ), reported a decline in both revenue and net profit for the first half of 2025 compared to the previous year [1] Financial Performance - The company achieved operating revenue of 1.196 billion yuan, representing a year-on-year decrease of 8.64% [1] - The net profit attributable to shareholders of the listed company was 112 million yuan, down 13.85% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 90.164 million yuan, reflecting a year-on-year decline of 26.63% [1] - Basic earnings per share were reported at 0.62 yuan [1]

Company Summary - Chengzhan Optoelectronics (SZ 003019) held its 12th meeting of the third board on August 26, 2025, to review the semi-annual report and its summary [1] - For the year 2024, the company's revenue composition is entirely from the manufacturing of computers, communications, and other electronic devices, accounting for 100.0% [1] - As of the report date, Chengzhan Optoelectronics has a market capitalization of 7.1 billion yuan [1] Industry Summary - The pet industry is experiencing a significant boom, with a market size of 300 billion yuan, leading to a surge in stock prices for related listed companies [1]

Summary of Key Points Core Viewpoint - The company, Chanzhan Optoelectronics (003019.SZ), reported a decline in both revenue and net profit for the first half of 2025, indicating potential challenges in its financial performance [1]. Financial Performance - The company achieved operating revenue of 1.196 billion yuan, representing a year-on-year decrease of 8.64% [1]. - The net profit attributable to shareholders of the listed company was 112 million yuan, down 13.85% year-on-year [1]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 90.1644 million yuan, reflecting a year-on-year decline of 26.63% [1]. - The basic earnings per share stood at 0.62 yuan [1].

证券代码：003019 证券简称：宸展光电 公告编号：2025-058 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会《关于核准宸展光电（厦门）股份有限公司首次公开发行股 票的批复》(证监许可[2020]2652 号)核准，本公司由主承销商海通证券股份有限公司采用公开 发行方式发行人民币普通股（A股）3,200.00 万股（每股面值 1 元），发行价格为每股 23.58 元，募集资金总额为人民币 754,560,000.00 元，扣除承销费等发行费用人民币 68,695,878.79 元，实际募集资金净额人民币 685,864,121.21 元。上述募集资金已经立信会计师事务所(特殊 普通合伙)验证，并由其出具了信会师报字[2020]第ZB11748 号验资报告。 （二）以前年度已使用金额、本报告期内使用金额及当前余额 1、以前年度已使用金额 截至 2024 年 12 月 31 日，本次募集资金累计直接投入募投项目 57,063.12 万元。尚未使 用金额为 15,855.13 万元（其中募集资金 11,523.29 万元，专户存款利息扣除手续费后金额 4,421.99 万元，汇率变动影响-9 ...

重要内容提示： 1、宸展光电（厦门）股份有限公司（以下简称"公司"）的全资子公司萨摩 亚商宸展科技有限公司（以下简称"宸展萨摩亚"）及其分公司拟以现金借款方式 向公司控股子公司鸿通科技（厦门）有限公司（以下简称"鸿通科技"）的全资子 公司 TPK AUTO TECH CO.,LIMITED（以下简称"鸿通香港"）提供财务资助，借 款总额不超过 900 万美元（人民币按实时汇率折算）。 2、本次财务资助事项已经公司第三届董事会第十二次会议、第三届监事会第 十次会议审议通过，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 1 号——主板上市公司规范运作》和《公司章程》等相关规 定，本事项无需提交公司股东大会审议。 宸展光电（厦门）股份有限公司 3、本次财务资助对象为公司合并报表范围内的控股子公司，公司对其具有实 质的控制，公司能够对其实施有效的业务、资金管理和风险控制，确保公司资金安 全，不会对公司的日常经营产生重大影响。同时，公司将密切关注鸿通香港的经营 管理情况，控制资金风险。请广大投资者理性投资，注意投资风险。 关于全资子公司向控股子公司提供财务资助的公告 本公司及董事会全体成员 ...

宸展光电（厦门）股份有限公司 2025 年半年度财务报告 （未经审计） 2025 年 08 月 宸展光电（厦门）股份有限公司 财务报表及财务报表附注 （2025 年 01 月 01 日至 2025 年 06 月 30 日止） | 目录 | 页次 | | | --- | --- | --- | | 财务报表 | | | | 合并资产负债表和母公司资产负债表 | | 1-4 | | 合并利润表和母公司利润表 | | 5-6 | | 合并现金流量表和母公司现金流量表 | | 7-8 | | 合并所有者权益变动表和母公司所有者权益变动表 | | 9-12 | | 财务报表附注 | | 1-91 | 宸展光电（厦门）股份有限公司 合并资产负债表 2025年6月30日 （除特别注明外，金额单位均为人民币元） | 资产 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 490,633,130.53 | 409,306,668.51 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 46,154,162.82 | 146,55 ...