中际旭创股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 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。 中际旭创股份有限公司（以下简称"公司"或"中际旭创"）于 2024 年 4 月 18 日召开的第五届董事会第七次会议、第五届监事会第七次会议分别审议并通过了《关 于继续使用闲置募集资金进行现金管理的议案》，为提高暂时闲置募集资金的使用效 率，增加资金收益，在保证募集资金投资项目建设和募集资金正常使用的情况下， 公司及子公司苏州旭创科技有限公司、孙公司铜陵旭创科技有限公司和苏州旭创光 电产业园发展有限公司合计拟使用不超过人民币 70,000 万元的暂时闲置募集资金进 行现金管理，在额度范围内，资金可循环滚动使用；使用期限自股东大会审议通过 之日起十二个月内有效，单个投资产品的投资期限不超过十二个月；具体内容详见 公司在中国证监会指定创业板上市公司信息披露网站巨潮资讯网披露的《中际旭创 股份有限公司关于继续使用闲置募集资金进行现金管理的公告》（公告编号： 2024-033），该事项已经公司 2023 年度股东大会审议通过。 证券代码：300308 ...

Financial Data and Key Metrics Changes - The company reported a revenue growth of 11% and a profit increase of 78%, reaching 2.17 billion yuan, primarily due to changes in product structure [32][34][35] - In 2022, the company experienced a revenue increase of 25% and a profit growth of 40% [29] Business Line Data and Key Metrics Changes - The company has seen a significant increase in the demand for 800G modules, which has positively impacted its profit margins [36] - The shift from 200G and 400G to 800G modules has led to a rapid increase in production and sales [33][34] Market Data and Key Metrics Changes - The overall market for optical modules is experiencing a shift towards higher bandwidth requirements, with expectations for continued growth in the 1.6T segment [12][18] - The company is positioned as a leader in the optical module market, with a significant share among major cloud providers and technology companies [22][70] Company Strategy and Development Direction - The company is focusing on high-end optical modules and is expected to maintain its leading position in the market due to its strong R&D capabilities [21][36] - The strategy includes expanding into silicon photonics, which is anticipated to become a major growth area [56][60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the company's market position, citing a lack of new competitors entering the market [23][27] - The company is optimistic about future growth, particularly in the AI sector, which is expected to drive demand for its products [32][35] Other Important Information - The company has a robust R&D investment, with a high proportion of skilled personnel dedicated to innovation [40][42] - The competitive landscape remains stable, with high barriers to entry for new players in the optical module industry [27][28] Q&A Session Summary Question: What are the expectations for the 1.6T optical module market? - Management indicated that the 1.6T market is likely to see upward adjustments due to increasing demand from GPU deployments, although there are concerns about production capabilities [12][18] Question: How does the company view competition in the optical module space? - The company believes that the competitive landscape is stable, with no significant new entrants expected in the near future [23][27] Question: What is the company's outlook on silicon photonics? - Management is optimistic about the potential of silicon photonics, suggesting that the company could surpass major competitors like Cisco and Intel in this area [56][60]

风险提示及免责声明1、本次会议为中信箭头研究发展部组织的闭门会议请面向中信箭头白名单客户参加会议的投资者不得制作会议纪要包括但不限于文字纪要、录音、录像、截屏等形式并对外转发给任何其他个人或机构 擅自制作编辑及转发会议纪要引起不当传播的中信箭头有权追究其法律责任二本次会议内容在任何情形下都不构成对会议参加者的投资建议且中信箭头不承诺不保障所含具有预测性质的内容必然得以实现敬请会议参加者充分了解各类投资风险根据自身情况自主做出投资决策并自行承担投资风险三 本次会议包含信息均来源于中信箭头认为可靠的公开资料但中信箭头对这些信息的准确性时效性以及完整性不做任何保证本次会议如涉及专家分享该专家分享仅代表专家个人观点不代表中信箭头立场四在法律法规及监管规定允许的范围内中信箭头可能持有并交易本次会议所提及公司的股份或其他财产权益 也可能在过去、目前或者将来为所提及公司提供或者争取为其提供投资银行、做市交易、财务顾问或其它金融服务 五本次会议内容的知识产权仅为中信箭头所有未经中信箭头事先书面许可任何机构或个人均不得以任何形式转发发布翻版复制或引用会议全部或部分内容亦不得同未经中信箭头书面授权的任何机构个人或其运营的媒体平台 ...

证券代码：300308 证券简称：中际旭创 公告编号：2024-064 中际旭创股份有限公司 关于特定股东部分股票进行质押交易的公告 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。 中际旭创股份有限公司（以下简称"公司"或"中际旭创"）近日接到特定股东 苏州益兴福企业管理中心（有限合伙）（以下简称"益兴福"）的通知，益兴福将其 持有的部分股票与中信证券股份有限公司（以下简称"中信证券"）办理了股票质押 交易业务，现将有关情况公告如下： 一、股东部分股票质押交易的基本情况 单位：股 | 股东 | 是否为第 一大股东 | 质押股数 | 是否 为限 | 是否 补充 | 质押开 | 质押 | 质权人 | 占其所 持股份 | 占总股 | 用 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 及一致行 | | | | 始日期 | 到期日 | | | 本比例 | 途 | | | | | 售股 | 质押 | | | | 比例 | | | | | 动人 | | | | | | ...

Investment Rating - Strong Buy (First Coverage) with a current price of 140.00 RMB [1] Core Views - The company is a global leader in data center optical modules, benefiting from the accelerated iteration of optical interconnects driven by AI demand [1] - The company has a leading market share in the global optical module market, surpassing Coherent in 2023 to become the top supplier [1] - The company is well-positioned to capitalize on the AI computing infrastructure wave with its early release of 800G/1.6T high-speed data communication products [1] - The company has a strong technological edge with sufficient reserves in emerging technologies such as silicon photonics, LPO, and CPO, which will solidify its long-term development advantages [1] Company Overview - The company specializes in the R&D, design, packaging, testing, and sales of high-speed optical communication modules, providing solutions for cloud data centers and telecom equipment manufacturers [1] - Its product portfolio includes 100G, 200G, 400G, and 800G high-speed optical modules, as well as 5G front-haul, mid-haul, and back-haul optical modules [1] - The company has a global presence with production bases in Suzhou, Tongling, Chengdu, Thailand, and Taiwan, enabling large-scale delivery of high-end optical modules [1] AI-Driven Demand for High-Speed Optical Modules - The company is a pioneer in the industry, having released 800G products as early as 2020 and 1.6T products in 2023, maintaining a leading position in the market [1][47] - The company's 800G products have been mass-produced since 2023, with 1.6T products expected to ramp up in 2024-2025 [47] - The company's early adoption of silicon photonics technology and its collaboration with Tower Semiconductor for advanced silicon photonics platforms further strengthen its competitive edge [51] Emerging Technologies - The company has significant reserves in silicon photonics, LPO, and CPO technologies, which are expected to drive future growth [1] - Silicon photonics is expected to reach an inflection point in the 800G era, with the company having already commercialized 800G silicon photonics solutions [36] - LPO technology, which reduces power consumption and latency, is expected to see significant demand, with the company already showcasing 1.6T-LPO-DR8 OSFP modules [52] - CPO technology, which integrates optical components at the chip level, is expected to commercialize by 2024-2025 and scale up by 2026-2027, with the company actively researching related core technologies [54] Financial Performance and Projections - The company's revenue and net profit have shown rapid growth, with 2023 revenue reaching 10.718 billion RMB, a YoY increase of 11.2%, and net profit reaching 2.174 billion RMB, a YoY increase of 77.6% [2] - For 2024-2026, the company is projected to achieve revenues of 26.487 billion RMB, 38.912 billion RMB, and 44.175 billion RMB, with YoY growth rates of 147.1%, 46.9%, and 13.5%, respectively [2] - Net profit for the same period is projected to be 5.092 billion RMB, 8.071 billion RMB, and 9.835 billion RMB, with YoY growth rates of 134.3%, 58.5%, and 21.8%, respectively [2] Market Position and Competitive Advantages - The company holds the top market share in the global optical module market, with a strong focus on R&D and technological innovation [1] - It has a robust global production capacity and a close partnership with leading overseas clients, ensuring its ability to meet large-scale orders [1] - The company's continuous investment in R&D, with expenditures increasing from 450 million RMB in 2019 to 810 million RMB in 2023, has helped build a strong technological moat [1]

证券代码:300308 证券简称:中际旭创 中际旭创股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | |--------|-----------------------|---------------------------|--------------------------------| | | | | 编号:2024-006 | | 投资者 | □特定对象调研 | □分析师会议 □媒体采访 | | | 关系活 | | | | | 动类别 | □现场参观 | ☑ 其他 (电话会议) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 参与单 | | | | | 位名称 | | | | | 及人员 | | | | | 姓名 | | | | | | | | | | | 金;国寿安保基金;盘京; | (广州) | 玄元投资;北京源乐晟资;上海聚鸣 | | | | | | | | | | | | | 银证券;BroadPeak(SG) | ;花旗集团;Point72HongKo ...

证券研究报告 | 公司动态点评 2024 年 07 月 15 日 中际旭创(300308.SZ) 800G/400G 等高端产品需求高增,带动公司业绩预期大幅增长 | --- | --- | --- | --- | --- | --- | |--------------------|-------|--------|--------|--------|--------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业收入(百万元) | 9,642 | 10,718 | 27,009 | 36,192 | 41,983 | | 增长率 yoy(%) | 25.3 | 11.2 | 152.0 | 34.0 | 16.0 | | 归母净利润(百万元) | 1,224 | 2,174 | 5,089 | 7,004 | 8,176 | | 增长率 yoy(%) | 39.6 | 77.6 | 134.2 | 37.6 | 16.7 | | ROE(%) | 10.2 | 14.9 | 26.3 | 26.8 | 24.1 | | EPS 最新摊薄(元) | ...

中际旭创20240715 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 175 CNY [3][12][13]. Core Insights - The company is expected to achieve a net profit of 2.15 to 2.5 billion CNY for the first half of 2024, representing a year-on-year growth of 250% to 300% [4][13]. - The demand for high-speed products, particularly 800G, is driving significant revenue growth, with Q2 net profit projected between 1.14 to 1.49 billion CNY, reflecting a year-on-year increase of 213% to 310% [4][13]. - The company is a global leader in the optical module sector, with advancements in emerging technologies such as 1.6T and silicon photonics, which are expected to contribute to future revenue growth [5][14]. Summary by Sections Company Overview - The company operates in the communication industry, with a current A-share price of 149.58 CNY as of July 15, 2024, and a market capitalization of approximately 166.89 billion CNY [10][11]. Financial Performance - The company forecasts a net profit of 5.392 billion CNY for 2024, with a year-on-year growth of 148.1%, and an EPS of 4.81 CNY [6][15]. - Revenue projections for 2024 are estimated at 25.707 billion CNY, with a significant increase in operating income expected in the following years [17]. Product and Market Position - The company holds the top position in the global optical module market, as per LightCounting's 2023 rankings, and is advancing in the development of 1.6T optical modules [5][14]. - The product mix includes a significant focus on optical communication transceiver modules, which account for 95% of the product portfolio [11]. Supply Chain and Operational Strategy - The company has expanded its supplier base for VCSEL and is proactively securing procurement needs to enhance supply chain stability [5][14]. - The report indicates that the company is well-positioned to meet the growing demand in the AI sector, which is expected to sustain high revenue growth [4][13].

Investment Rating - The investment rating for the company is "Buy" with a target price set at 149.58 CNY, maintaining the rating for the next six months [1][8]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of 21.5 to 25 billion CNY for the first half of 2024, representing a year-on-year increase of 250.3% to 307.3% [1][2]. - The growth in performance is driven by the increasing shipment of high-end products such as 800G and 1.6T modules, indicating a strong demand in the market [1][2]. - The company has shown consistent quarterly growth, with the second quarter of 2024 projected to yield a net profit of 11.4 to 14.9 billion CNY, marking a year-on-year increase of 213.53% to 309.73% [3]. Financial Data Summary - The total share capital of the company is 1,121.17 million shares, with a total market capitalization of approximately 167.7 billion CNY [1]. - The company’s revenue is projected to grow significantly, with estimates of 26,077.69 million CNY in 2024, up from 10,717.98 million CNY in 2023, reflecting a growth rate of 143.31% [6][7]. - The net profit attributable to shareholders is expected to reach 5,974.61 million CNY in 2024, a substantial increase from 2,173.53 million CNY in 2023, indicating a growth rate of 174.88% [6][7]. Future Outlook - The company anticipates that the demand for 800G and 1.6T optical modules will continue to grow, with the 1.6T module expected to enter mass production in the fourth quarter of 2024 [3][5]. - The company is preparing to increase production capacity for high-end optical modules to meet the anticipated demand from overseas clients [5][6].