Company Overview - Shenzhen LianDe Automation Equipment Co., Ltd. specializes in the research, production, and sales of new semiconductor display intelligent equipment, automotive intelligent cockpit systems, semiconductor packaging and testing equipment, and new energy equipment [2]. - The company has a strong focus on the semiconductor equipment sector, particularly in the backend packaging and testing equipment [3]. Product Offerings - Key products include binding equipment, laminating equipment, detection equipment, large-size module assembly lines, and various advanced semiconductor and new energy devices [2]. - The company has developed a range of semiconductor packaging equipment, including high-precision display chip flip chip bonding machines and Mini LED chip sorting machines, with sales orders already in place [3]. Market Applications - The flexible AMOLED bonding equipment is widely used in the mass production of foldable screens for well-known domestic and international smartphone brands [4]. - The company is a leading player in the foldable screen bonding equipment market, maintaining strong partnerships with major smartphone manufacturers [4]. New Energy Sector - In the new energy equipment sector, the company is increasing R&D investment in lithium battery packaging, solid-state battery welding, and automation equipment for cell assembly and packaging [5]. - Recent breakthroughs include the development of GW-level coating equipment and advancements in solid-state battery technology [5]. Emerging Technologies - The company is actively involved in the VR/AR/MR display field, providing essential production equipment for silicon-based displays and optical waveguide bonding [6]. - Collaborations have been established with leading clients in the VR/AR/MR sector, showcasing the company's innovative capabilities [6]. Strategic Growth - The company is exploring opportunities for mergers and acquisitions to enhance its operational capabilities and resource integration [6]. - It is closely monitoring industry trends and regulatory support for mergers and acquisitions to align with its strategic development plans [6].

Core Viewpoint - The recent financial report of Lian De Equipment (300545) shows a decline in revenue and net profit for the first half of 2025 compared to the same period in 2024, indicating potential challenges in the company's financial health and operational efficiency [1]. Financial Performance Summary - Total revenue for the first half of 2025 was 637 million yuan, a decrease of 5.34% year-on-year [1]. - Net profit attributable to shareholders was 73.1 million yuan, down 34.78% year-on-year [1]. - In Q2 2025, total revenue was 270 million yuan, reflecting a 16.59% decline year-on-year, while net profit was 30.3 million yuan, a decrease of 54.33% year-on-year [1]. - Gross margin was 31.2%, down 14.27% year-on-year, and net margin was 11.48%, down 30.4% year-on-year [1]. - Total operating expenses (selling, administrative, and financial expenses) amounted to 59.7 million yuan, accounting for 9.37% of revenue, an increase of 22.29% year-on-year [1]. Balance Sheet and Cash Flow Summary - Cash and cash equivalents decreased to 508 million yuan, down 18.90% year-on-year [1]. - Accounts receivable increased to 662 million yuan, up 27.95% year-on-year, representing 272.62% of net profit [1]. - Interest-bearing debt decreased to 340 million yuan, down 36.49% year-on-year [1]. - Earnings per share were 0.41 yuan, a decrease of 34.92% year-on-year, while operating cash flow per share increased to 1.31 yuan, up 59.0% year-on-year [1]. Business Evaluation - The company's return on invested capital (ROIC) for the previous year was 11.15%, indicating average capital returns [3]. - The historical median ROIC since the company went public is 10.59%, suggesting reasonable investment returns [3]. - The company has a cash flow concern, with cash and cash equivalents covering only 85.81% of current liabilities [3]. - Analysts expect the company's performance in 2025 to reach 223 million yuan, with an average earnings per share forecast of 1.23 yuan [3]. Client Relationships - The company has established long-term stable relationships with notable clients, including Continental Automotive Electronics, Bosch, Harman, and Apple, among others [4].

Core Viewpoint - The article highlights the performance of several companies in the display and electronics industry for the first half of the year, noting that Sichuan Changhong, Feikai Materials, and Tianshan Electronics achieved both revenue and net profit growth, while others faced declines in performance [1][2]. Company Performance Summary 1. Xinyi International - Xinyi International reported revenue of 74.42 billion RMB, a decrease of 5.7% year-on-year, and a net profit of 1.30 billion RMB, down 19.2% [2][3]. - The company's smartphone-related product business decreased by 12.1%, while non-smartphone-related products saw a slight decline of 0.4% [5]. 2. Sichuan Changhong - Sichuan Changhong achieved revenue of 567.05 billion RMB, an increase of 10.28%, and a net profit of 5.01 billion RMB, up 78.60% [2][7]. - The company noted significant growth in non-recurring gains, primarily due to the fair value increase of its investment in Huafeng Technology [9]. 3. Laibao High-Tech - Laibao High-Tech reported revenue of 31.45 billion RMB, a growth of 7.06%, but a net profit of 1.82 billion RMB, down 13.78% [2][10]. - The decline in net profit was attributed to increased R&D expenses and reduced interest income [12]. 4. Woge Optoelectronics - Woge Optoelectronics achieved revenue of 11.90 billion RMB, a growth of 14.20%, but continued to report net losses [2][13]. - The company increased R&D investment by 63.13% to enhance its core technology position in the glass substrate field [15]. 5. Sanlipu - Sanlipu reported revenue of 16.80 billion RMB, a significant increase of 41.97%, but a net profit of 0.38 billion RMB, down 31.47% [2][16]. - The decline in net profit was due to increased competition and pressure on profit margins [17]. 6. Liande Equipment - Liande Equipment reported revenue of 6.37 billion RMB, a decrease of 5.34%, and a net profit of 0.73 billion RMB, down 34.78% [2][19]. - The company aims to strengthen its technology reserves in the semiconductor display equipment sector [20]. 7. Feikai Materials - Feikai Materials achieved revenue of 14.62 billion RMB, a growth of 3.80%, and a net profit of 2.17 billion RMB, up 80.45% [2][21]. - The company expanded its product matrix through strategic acquisitions in the liquid crystal materials sector [22]. 8. Xiangtong New Materials - Xiangtong New Materials reported revenue of 2.79 billion RMB, a decline of 17.44%, and a net profit of -0.12 billion RMB, indicating a loss [2][24]. - The company faced challenges due to customer strategy adjustments and increased competition [26]. 9. Tianshan Electronics - Tianshan Electronics achieved revenue of 8.56 billion RMB, an increase of 29.66%, and a net profit of 0.75 billion RMB, up 15.46% [2][27]. - The company reported growth in various product lines, including monochrome LCD displays and touch screens [28].

Group 1 - The company, Lian De Equipment, announced on August 28 that its fifth board meeting was held on August 27, 2025, in Dongguan, focusing on the review of the "2025 Semi-Annual Report" and related documents [1]

Core Viewpoint - The company 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 637 million yuan, a year-on-year decrease of 5.34% [1] - The net profit attributable to shareholders was 73.1 million yuan, reflecting a year-on-year decline of 34.78% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 72.1 million yuan, down 34.93% year-on-year [1] - Basic earnings per share were reported at 0.41 yuan [1]

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。 证券代码：300545 证券简称：联得装备 公告编号：2025-069 深圳市联得自动化装备股份有限公司 关于 2025 年半年度报告全文及摘要披露提示性公告 深圳市联得自动化装备股份有限公司（以下简称"公司"）《2025 年半年度报告全文》 及《2025 年半年度报告摘要》于 2025 年 8 月 28 日刊登在中国证监会指定的创业板信息披 露网站巨潮资讯网（http://www.cninfo.com.cn）上，敬请投资者注意查阅。 特此公告。 深圳市联得自动化装备股份有限公司 董事会 2025 年 8 月 28 日 ...

| | 苏州联鹏自动化 | 全资子公司 | 预付款项 | 509.49 | | | | 509.49 | 资金往来 | 非经营性往来 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 设备有限公司 苏州联鹏自动化 设备有限公司 | 全资子公司 | 其他应收款 | 134.83 | | | | 134.83 | 资金往来 | 非经营性往来 | | 上市公司的子公司及其附属 企业 | 深圳市联得半导 体技术有限公司 | 全资子公司 | 其他应收款 | 1,210.75 | | | | 1,210.75 | 资金往来 | 非经营性往来 | | | 深圳市联鹏智能 装备科技有限公 | 控股子公司 | 其他应收款 | 1.82 | 190.05 | | | 191.87 | 资金往来 | 非经营性往来 | | | 司 | | | | | | | | | | | 其他关联方及其附属企业 | | | | | | | | | | | | 总计 | | | | 3,690.22 | 208.69 | 0.00 | 127.01 | ...

深圳市联得自动化装备股份有限公司 募集资金存放与实际使用情况的专项报告 2、2019 年公开发行可转换公司债券募集资金 经中国证券监督管理委员会《关于核准深圳市联得自动化装备股份有限公司公开发行可 转换公司债券的批复》（证监许可[2019]2654 号）核准，本公司向社会公开发行面值总额人 民币 2 亿元的可转换公司债券，每张面值 100 元，共计 200 万张，期限 6 年。公司本次发行 可转债募集资金总额为人民币 200,000,000.00 元，扣除承销费用、保荐费人民币 7,420,000.00 元后的发行金额 192,580,000.00 元，已由保荐机构（主承销商）东方花旗证券有限公司于 2019 年 12 月 31 日汇入本公司募集资金专项存储账户内。上述资金到位后再扣除律师、会计 师、资信评级、信息披露费及发行手续费等其他发行费用合计人民币 2,580,000.00 元（含 税），实际募集资金净额为人民币 190,000,000.00 元。该项募集资金到位情况业经瑞华会计 师事务所（特殊普通合伙）验证并出具瑞华验字【2019】48530007 号验证报告。 一、募集资金基本情况 （一）扣除发行 ...

深圳市联得自动化装备股份有限公司（以下简称"公司"）第五届监事会第七次会议于 2025 年 8 月 27 日在东莞联鹏智能装备有限公司 10 层会议室以现场方式召开。本次会议于 2025 年 8 月 15 日以专人送达方式向所有监事送达了会议通知及文件。本次会议应参加监事 3 人，实际参加监事 3 人。本次会议的召开符合《中华人民共和国公司法》《公司章程》及 《公司监事会议事规则》的规定。本次会议由公司监事会主席欧阳小平先生召集和主持。经 会议审议、与会监事记名投票表决，审议通过了如下议案： 二、监事会会议审议情况 1、审议通过《关于公司<2025 年半年度报告>全文及摘要的议案》 表决结果：同意票 3 票，反对票 0 票，弃权票 0 票，表决通过。 证券代码：300545 证券简称：联得装备 公告编号：2025-068 深圳市联得自动化装备股份有限公司 第五届监事会第七次会议决议公告 本公司及监事会全体成员保证公告内容真实、准确和完整，公告不存在虚假记载、 误导性陈述或者重大遗漏。 一、监事会会议召开情况 1、经全体监事签字并盖章的第五届监事会第七次会议决议； 2、深交所要求的其他文件。 特此公告。 深圳市 ...

深圳市联得自动化装备股份有限公司（以下简称"公司"）第五届董事会第九次会议于 2025 年 8 月 27 日在东莞联鹏智能装备有限公司 10 层会议室，以现场表决方式召开。本次 会议通知于 2025 年 8 月 15 日以专人送达及电话等方式发出。本次会议由董事长聂泉先生主 持，应出席本次会议的董事全部参会，列席 6 人。会议的召集、召开符合有关法律、行政法 规、部门规章、规范性文件和《公司章程》的规定。 证券代码：300545 证券简称：联得装备 公告编号：2025-067 深圳市联得自动化装备股份有限公司 第五届董事会第九次会议决议公告 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。 一、董事会会议召开情况 三、备查文件 二、 董事会会议审议情况 经与会董事审议，通过了以下议案： （一）审议通过《关于公司<2025 年半年度报告>全文及摘要的议案》 具体内容详见公司同日披露于巨潮资讯网（http://www.cninfo.com.cn）上的《2025 年 半年度报告全文》及《2025 年半年度报告摘要》。 表决结果：同意 6 票，反对 0 票，弃权 0 票 ...