Investment Rating - The report maintains a "Recommend" rating for the company [2][4] Core Views - The company is positioned to benefit from the "Vehicle-Road-Cloud" integration trend, with significant growth potential in the smart transportation infrastructure sector [2] - The company's revenue for the first half of 2024 reached RMB 378 million, a year-on-year increase of 17.28%, although it reported a net loss of RMB 150 million [2] - The company is actively participating in smart transportation projects, including the construction of smart highways and the development of V2X (Vehicle-to-Everything) technologies [2] - The company is expected to achieve net profits of RMB 30 million, RMB 112 million, and RMB 190 million in 2024, 2025, and 2026, respectively, with corresponding P/E ratios of 201X, 54X, and 32X [2][3] Financial Forecasts - Revenue is projected to grow from RMB 909 million in 2023 to RMB 1,845 million in 2026, with a CAGR of 26.5% [3][5] - Net profit is expected to turn positive in 2024, reaching RMB 30 million, and grow to RMB 190 million by 2026 [3][5] - Gross margin is forecasted to improve from 33.64% in 2023 to 47.06% in 2026, reflecting better cost control and higher-value product offerings [5] - The company's ROE is expected to improve significantly, from -16.72% in 2023 to 7.31% in 2026, indicating a recovery in profitability [5] Business Highlights - The company is focusing on smart transportation infrastructure, including the development of smart highways and the integration of V2X technologies [2] - It has launched a semi-solid-state 192-line LiDAR and is preparing for mass production, targeting applications in autonomous driving and robotics [2] - The company is expanding its market share in ETC (Electronic Toll Collection) products, with new innovations such as motorcycle OBUs expected to enter mass production in the second half of 2024 [2] - The company is actively involved in pilot projects for smart transportation in cities like Beijing, Shanghai, and Chongqing, leveraging government policies to drive growth [2] Industry Trends - The "Vehicle-Road-Cloud" integration is entering a new phase of large-scale implementation, with 20 cities selected for pilot projects in 2024 [2] - Government policies are supporting the digital transformation of transportation infrastructure, with a focus on smart highways and intelligent transportation systems [2] - The company is well-positioned to capitalize on these trends, given its leadership in smart transportation solutions and its strong R&D capabilities [2]

本报告仅供 Choice 东方财富 使用，请勿传阅。 2024 年 08 月 20 日 万集科技(300552.SZ) 公司快报 24H1 收入端显著回暖，积极把握车路云一体化 和交通数字化转型建设机遇 事件概述 8 月 17 日，万集科技发布 2024 年半年报，2024 上半年公司实现营业 收入 3.78 亿元，同比增长 17.28%；实现归母净利润-1.50 亿元，同 比下降 17.33%，扣非归母净利润-1.58 亿元，同比下降 13.85%。 24H1 收入端显著回暖，成本端仍存在较大压力 24H1 公司收入端显著回暖，分业务来看，专用短程通信、动态称重、 激光检测、智能网联电子产品分别实现收入 2.39、0.83、0.38、0.17 亿元，分别同比增长 38.06%、2.80%、-4.52%、-35.93%。我们认为公 司收入显著回暖的最大驱动力来自于车载 ETC-OBU 业务走出周期底 部，销量持续回暖，预计该趋势有望在全年延续。另一方面，我们观 察到公司的成本端仍存在较大压力，24H1 毛利率为 28.09%，较去年 同期下滑 11.38pcts，主要系市场竞争加剧。此外，公司为应对下半 年车 ...

北京万集科技股份有限公司 刘文杰： 第五届董事会独立董事专门会议第三次会议决议 北京万集科技股份有限公司（以下简称"公司"或"本公司"）第五届董事会独 立董事专门会议第三次会议通知于 2024 年 8 月 9 日以电子邮件方式发出，会议 于 2024 年 8 月 15 日以现场表决方式召开。本次会议由独立董事曹鹤先生召集并 主持。会议应到独立董事 3 名，实到独立董事 3 名。会议的召集和召开符合《公 司法》《公司章程》及《独立董事工作制度》的有关规定。 经出席会议独立董事认真研究并投票表决，本次会议审议通过了以下议案： 1、会议以 3 票同意、0 票反对、0 票弃权，审议通过了《2024 年半年度募 集资金存放与使用情况的专项报告》。 经核查，2024 年半年度公司募集资金的存放和使用符合中国证监会、深圳 证券交易所关于上市公司募集资金存放和使用的相关规定。公司对募集资金的管 理遵循专户存放、规范使用、如实披露、严格管理的原则，不存在变相改变募集 资金投向，损害股东利益，违反相关规定之情形。公司募集资金的使用与存放有 利于改善公司财务结构，提高公司经营效益，符合全体股东利益，是合理、合规 和必要的。 特此决 ...

证券代码：300552 证券简称：万集科技 公告编号：2024-068 北京万集科技股份有限公司 第五届董事会第五次会议决议公告 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。 一、董事会会议召开情况 北京万集科技股份有限公司（以下简称"公司"或"本公司"）于 2024 年 8 月 9 日以电子邮件方式发出召开第五届董事会第五次会议的通知，并于 2024 年 8 月 15 日在公司会议室以现场表决的方式召开会议。会议应到董事 9 名，实到 董事 9 名，超过全体董事成员的半数。公司监事及高级管理人员列席本次会议。 本次会议由董事长主持。本次会议的召开符合《中华人民共和国公司法》和相关 法律法规、《北京万集科技股份有限公司章程》的规定。 二、董事会会议审议情况 1、会议以 9 票同意、0 票反对、0 票弃权，审议通过了《2024 年半年度报 告及摘要》； 经审议，董事会认为：公司《2024 年半年度报告》及摘要符合法律、行政法 规、中国证监会和深圳证券交易所的相关规定，报告内容真实、准确，完整，不 存在任何虚假记载、误导性陈述或者重大遗漏。 本议案已经公司第五届 ...

东北证券股份有限公司 关于北京万集科技股份有限公司 2024 年半年度募集资金存放与使用情况的专项核查意见 为规范公司募集资金管理，提高募集资金的使用效率，切实保护投资者的权 益，根据《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）》《深圳证券交易所创业板股票上市规则》《深圳证券交易所 上市公司自律监管指引第2号——创业板上市公司规范运作》等法律法规和规范 性文件，以及公司《募集资金管理办法》的相关规定，公司对募集资金实行专户 存储。 公司与北京银行股份有限公司上地支行、保荐机构分别于2022年1月12日及 2022年5月23日签署了《募集资金三方监管协议》及《募集资金三方监管协议之 补充协议》，严格进行募集资金管理。明确了各方的权利和义务。监管协议与深 圳证券交易所监管协议范本不存在重大差异，监管协议的履行不存在问题。 《募集资金三方监管协议》具体签订情况及募集资金专户初始存款具体情况 如下表所示： 单位：元 | 序 号 | 银行名称 | 银行账号 | 签订时间 | | | 专户存款额 | | --- | --- | --- | --- | --- | --- | --- ...

证券代码：300552 证券简称：万集科技 公告编号：2024-069 北京万集科技股份有限公司 1、会议以 3 票同意、0 票反对、0 票弃权，审议通过了《2024 年半年度报 告及摘要》； 经审核，监事会认为董事会编制和审议北京万集科技股份有限公司 2024 年 半年度报告的程序符合法律、行政法规及中国证监会的规定，报告内容真实、准 确、完整地反映了上市公司的实际情况，不存在任何虚假记载、误导性陈述或者 重大遗漏。 详情参见中国证监会指定的创业板信息披露网站同日刊载的《北京万集科技 股份有限公司 2024 年半年度报告》全文及摘要。 第五届监事会第五次会议决议公告 本公司及监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。 一、监事会会议召开情况 北京万集科技股份有限公司（以下简称"公司"或"本公司"）于 2024 年 8 月 9 日以电子邮件方式发出召开第五届监事会第五次会议的通知，并于 2024 年 8 月 15 日在公司会议室以现场表决的方式召开会议。会议应到监事 3 名，实 到监事 3 名，超过全体监事成员的半数。本次会议由监事会主席主持。本次会议 的召开符合 ...

Financial Performance - The company reported a revenue of 500 million yuan for the first half of 2024, representing a year-on-year increase of 15%[2]. - The company has set a revenue guidance of 1.2 billion yuan for the full year 2024, indicating a growth target of 10%[2]. - The company's operating revenue for the reporting period was ¥377,798,744.64, representing a 17.28% increase compared to ¥322,138,073.01 in the same period last year[12]. - The net loss attributable to shareholders was ¥149,691,342.08, which is a 17.33% increase from a loss of ¥127,581,040.48 in the previous year[12]. - The basic earnings per share for the reporting period was -¥0.7023, reflecting a 17.32% decline from -¥0.5986 in the previous year[12]. - The weighted average return on equity was -6.71%, compared to -4.85% in the same period last year, indicating a worsening financial performance[12]. - The company reported a significant increase in sales expenses, which rose to ¥84,190,930.46 from ¥76,945,330.22 year-over-year[135]. - The net profit for the first half of 2024 was -97,365,336.76 CNY, compared to -78,352,983.18 CNY in the same period of 2023, indicating a decline in profitability[138]. - The company reported a total comprehensive loss of -97,365,336.76 CNY for the first half of 2024, compared to -78,352,983.18 CNY in the same period of 2023[138]. Market and User Growth - User data showed an increase in active users to 1.2 million, up 20% compared to the same period last year[2]. - New product launches in the smart transportation sector contributed to a 25% increase in sales volume[2]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[2]. - The company operates in the intelligent transportation industry, focusing on the integration of AI, mobile internet, and big data technologies[17]. - The intelligent connected vehicle industry is expected to accelerate its transition from demonstration applications to commercial promotion, driven by ongoing technological innovations[19]. Research and Development - Research and development expenses increased by 18% to 80 million yuan, focusing on advanced V2X technology[2]. - The company continues to focus on R&D despite the decrease in expenses, indicating a commitment to innovation and future growth[135]. - The company has developed a comprehensive solution for vehicle-road-cloud integration, enhancing capabilities in collaborative perception, decision-making, and control services for intelligent connected vehicles[34]. - The company has developed various ETC (Electronic Toll Collection) products, including a motorcycle OBU (On-Board Unit) with a flexible design, expected to enter mass production in the second half of the year[29]. Strategic Investments and Acquisitions - The company plans to invest 200 million yuan in strategic acquisitions to enhance its technology portfolio[2]. - The company is advancing its vehicle-road collaborative autonomous driving technology, integrating real-time scene empowerment and cloud-based decision-making capabilities[31]. - The company is expanding its global presence by establishing a joint venture in South Korea and promoting its LiDAR products in multiple countries, including Czech Republic, Argentina, and South Africa[32]. - The company has established a wholly-owned subsidiary, Wanji (Zhengzhou) Vehicle Networking Technology Co., Ltd., with an investment of RMB 10 million to expand its smart connected business[109]. Financial Position and Assets - Total assets at the end of the reporting period were ¥3,195,022,207.92, a decrease of 2.07% from ¥3,262,640,426.06 at the end of the previous year[12]. - The company's net assets attributable to shareholders decreased by 6.38%, from ¥2,305,419,030.68 to ¥2,158,386,913.45[12]. - The company's cash and cash equivalents decreased to ¥131,998,751.00 from ¥207,295,665.10, representing a decline of approximately 36.4%[129]. - The total liabilities increased from CNY 945,439,822.49 to CNY 1,021,428,896.30, reflecting a growth of about 8.04%[131]. Risks and Challenges - Risks related to market competition and regulatory changes have been identified, with mitigation strategies outlined in the report[1]. - The company faces risks from market competition and aims to enhance market share through continuous technological innovation and cost reduction[65]. - The company is at risk of losing its competitive edge if it fails to adapt to market demands and technological advancements[66]. Corporate Governance and Shareholder Matters - The company has no plans to distribute cash dividends or issue bonus shares for this fiscal year[1]. - The first extraordinary general meeting of 2024 had an investor participation rate of 49.99%[72]. - The company elected new board members during the extraordinary general meeting held on March 15, 2024[73]. - The company has not implemented any employee stock ownership plans or other employee incentive measures[77]. Environmental and Social Responsibility - The company has established two "Wanjie Hope Primary Schools" and provided scholarships to ten prestigious universities in China, contributing to education and social responsibility[78]. - The company does not belong to key pollutant discharge units and has not faced any environmental penalties during the reporting period[78]. - The company has implemented effective environmental protection measures, resulting in no serious pollution incidents during the reporting period[78]. Legal and Compliance Matters - The company reported a total of 34 litigation and arbitration cases during the reporting period, with 21 cases concluded[89]. - There were no significant lawsuits or arbitration matters that would adversely affect the company's financial status and ongoing operations[89]. - The semi-annual financial report has not been audited[89].

2024 年半年度非经营性资金占用及其他关联资金往来情况汇总表 北京万集科技股份有限公司 企业负责人：翟军 主管会计工作负责人：刘明 会计机构负责人：刘明 | | | | 上市公司 | 2024 年期初 | 2024 年半年度 | 2024 年半年 | 2024 年半年 | 2024 | 年半年度 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公 司的关联关系 | 核算的会 | 占用资金余 | 占用累计发生 金额（不含利 | 度占用资金的 | 度偿还累计发 | | 期末占用资金 | 占用形成原因 | 占用性质 | | | | | 计科目 | 额 | 息） | 利息（如有） | 生金额 | | 余额 | | | | 控股股东、实际控制人及 | | | | | | | | | | | | | 其附属企业 | | | | | | | | | | | | | 小计 | - | - | - | | | | | | | | | | 前控股股东、实际控制 ...

证券代码：300552 证券简称：万集科技 公告编号：2024-072 北京万集科技股份有限公司 2024 年半年度募集资金存放与使用情况的专项报告 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。 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）》和深圳证券交易所《深圳证券交易 所上市公司自律监管指引第 2 号——创业板上市公司规范运作》《深圳证券交易 所创业板上市公司自律监管指南第 2 号公告格式——第 21 号上市公司募集资金 年度存放与使用情况的专项报告格式》等相关法律法规、规范性文件及格式指引 的规定，北京万集科技股份有限公司（以下简称"万集科技"、"公司"或"本公司"） 董事会将 2024 年半年度（以下简称"报告期"）募集资金存放与使用情况专项报 告如下： 二、募集资金存放和管理情况 为规范本公司募集资金管理，提高募集资金的使用效率，切实保护投资者的 权益，根据《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）》《深圳证券交易所创业板股票上市规则》 ...

证券代码：300552 证券简称：万集科技 公告编号：2024-065 北京万集科技股份有限公司 关于香港子公司变更为武汉全资子公司的下属公司 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。 北京万集科技股份有限公司（以下简称"万集科技"或"公司"）于 2024 年 4 月 15 日召开第五届董事会第二次会议、第五届监事会第二次会议审议通过了《关于 香港子公司变更为武汉全资子公司的下属公司的议案》，同意公司将香港全资子公 司万集国际（香港）控股有限公司（以下简称"万集国际"）100%股权转给武汉 全资子公司武汉万集光电技术有限公司（以下简称"武汉万集"），完成本次股权 转让后，万集国际变更为武汉万集的全资子公司，变更后万集国际将成为武汉万集 的下属公司。具体内容详见公司于 2024 年 4 月 18 日披露于巨潮资讯网 （www.cninfo.com.cn）的《关于香港子公司变更为武汉全资子公司的下属公司的公 告》（公告编号：2024-043）。 一、进展情况 近日，万集国际已完成股权变更，取得了由中国香港特别行政区政府税务局颁 发的印花文件，详细 ...