证券代码：300567 证券简称：精测电子 公告编号：2025-081 武汉精测电子集团股份有限公司 2024年度股东大会决议公告 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。 特别提示： 1、本次股东大会无否决议案的情形； 2、本次股东大会不涉及变更前次股东大会决议。 一、会议召开和出席情况 1、会议召开的日期、时间： （1）现场会议召开时间：2025 年 5 月 19 日（星期一）14:30； （2）网络投票时间：2025 年 5 月 19 日（星期一）。 其中，通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 5 月 19 日的交易时间，即 9:15-9:25，9:30-11:30 和 13:00-15:00；通过深圳证券交易 所互联网投票系统投票的具体时间为 2025 年 5 月 19 日 9:15 至 15:00 期间的任 意时间。 2、会议召开方式：本次会议采取现场表决和网络投票相结合的方式。 3、会议召开地点：武汉市东湖新技术开发区流芳园南路 22 号公司会议室。 4、会议召集人：公司第五届董事会。 （1）总表决情况： 5、会议主持人 ...

根据上述决议和当前实际资金需求，公司于 2025 年 5 月 15 日将用于暂时补 充流动资金的闲置募集资金 2.5 亿元自募集资金专户转入公司存款账户。公司本 次使用部分闲置募集资金暂时补充的流动资金仅限于与公司主营业务相关的生 产经营使用，不会通过直接或间接安排用于新股配售、申购，或用于股票及其衍 生品种、可转换公司债券等的交易，不存在变相改变募集资金用途和损害股东利 益的情况，也不会影响募集资金投资项目的正常进行。在上述闲置募集资金暂时 用于补充流动资金的使用期限届满之前募集资金投资项目需要时，公司将及时归 还相关资金至募集资金专户，以确保募集资金投资项目的正常进行。 公司将严格按照《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》《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》和《武汉精测电子集团股份有限公司募集资金使用管理制度》等 相关规定，规范使用该部分募集资金，如期归还募集资金至专户，并严格按照相 关规定履行信息披露义务。 特此公告。 证券代码：300567 证券简称：精测电子 公告编号：2025-080 武汉精测电子集团股份有限公司 关于使用部 ...

Investment Rating - The investment rating for the company is "Buy" and it is maintained [8] Core Views - The company reported a revenue of 2.565 billion yuan for 2024, an increase of 5.59% year-on-year, but a net profit attributable to shareholders of -98 million yuan, a decrease of 165.02% year-on-year. In Q1 2025, the company achieved a revenue of 689 million yuan, a year-on-year increase of 64.92%, and a net profit of 38 million yuan, a year-on-year increase of 336.06% [2][6] - The display and semiconductor businesses are showing signs of recovery, with the semiconductor sector advancing rapidly. In 2024, the display, semiconductor, and new energy businesses generated revenues of 1.591 billion yuan, 768 million yuan, and 167 million yuan, with year-on-year growth rates of -8.98%, +94.65%, and -30.71% respectively [13] - The company has a strong order backlog totaling approximately 2.844 billion yuan, with 764 million yuan in the display sector, 1.668 billion yuan in the semiconductor sector, and 412 million yuan in the new energy sector as of Q1 2025 [13] Summary by Sections Financial Performance - In 2024, the company reported total revenue of 2.565 billion yuan and a net profit of -98 million yuan. For Q1 2025, revenue was 689 million yuan with a net profit of 38 million yuan [2][6] - The company’s R&D expenses were 724 million yuan in 2024 and 152 million yuan in Q1 2025, accounting for 28.23% and 22.02% of revenue respectively [13] Business Segments - The display business is gradually recovering, while the semiconductor business is experiencing rapid growth. The semiconductor business is expected to be a core driver of future performance [13] - The company has made significant advancements in its semiconductor products, including the delivery of 14nm advanced process defect detection equipment and ongoing validation of more advanced products [13] Future Outlook - The company forecasts net profits of 131 million yuan, 225 million yuan, and 413 million yuan for 2025, 2026, and 2027 respectively, with corresponding price-to-earnings ratios of 130x, 76x, and 41x [13]

Group 1: Company Performance - The net profit attributable to shareholders for 2024 was -97.60 million CNY, a decrease of 165.02% compared to 2023, primarily due to weak market demand and price adjustments in the display sector [3] - In Q1 2025, the company achieved revenue of 689.40 million CNY, a year-on-year increase of 64.92%, and a net profit of 37.60 million CNY, up 336.06% from the previous year [3] Group 2: R&D and Product Development - The company has increased R&D investment in advanced semiconductor processes (14nm and below), with successful deliveries of 14nm defect detection equipment and 7nm products [6][9] - In the AR/VR sector, the company has established a comprehensive detection solution covering core components, modules, and complete machines, achieving strategic cooperation with leading global AR/VR companies [4][5] Group 3: Market Challenges and Strategies - The company faces significant challenges in the display and new energy sectors, leading to a notable decline in gross margins and net profits [3][12] - To improve profitability, the company is focusing on cost control and optimizing internal management, which has resulted in an overall increase in gross margin [11][12] Group 4: Future Growth Drivers - The semiconductor equipment market is expected to experience a prolonged growth cycle due to increasing demand for high-end chips driven by the electric vehicle, big data, and AI industries [8][12] - The company anticipates that advanced process products will become a core driver of its performance, with an increasing proportion of revenue and orders from these products [6][16] Group 5: Order Status - As of the first quarter of 2025, the company reported total orders amounting to approximately 2.844 billion CNY, with 764 million CNY in the display sector, 1.668 billion CNY in the semiconductor sector, and 412 million CNY in the new energy sector [14]

证券代码：300567 证券简称：精测电子 公告编号：2025-079 | 占其 | 是否为控 | 占公 | 本次 | 直接 | 是否 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股股东或 | 司总 | 是否 | 股东 | 质押 | 所持 | 为补 | 质押起始 | 质押到期 | 质押 | 第一大股 | 股本 | 为限 | 质权人 | | | | 名称 | 数量 | 股份 | 充质 | 日 | 日 | 用途 | 东及其一 | 比例 | 售股 | （股） | 比例 | 押 | | | | | 致行动人 | （%） | （%） | | | | | | | | | | | | | | | 高管 | 800,0 | 2025 | 年 | 4 | 2026 | 年 | 4 | 平安证券股 | 借新 | 彭骞 | 是 | 1.14 | 0.29 | 锁定 | 否 | | 00 | 月 | 28 | 日 | 月 | 28 | ...

Core Viewpoint - The company reported mixed financial results for 2024 and Q1 2025, with a notable increase in revenue for Q1 2025 but significant losses in 2024, particularly in net profit and non-recurring net profit [1][2]. Financial Performance - In 2024, the company achieved revenue of 2.565 billion, a year-on-year increase of 5.59%, but reported a net loss of 98 million, a decrease of 165.02% year-on-year. The non-recurring net profit was a loss of 159 million, down 582.26% year-on-year [1]. - For Q1 2025, the company reported revenue of 689 million, a year-on-year increase of 64.92%, and a net profit of 38 million, marking a return to profitability [1]. Segment Performance - In 2024, the display business generated revenue of 1.591 billion, a decrease of 8.98% year-on-year; the semiconductor business saw revenue of 768 million, an increase of 94.65%; and the new energy business reported revenue of 167 million, down 30.71% [2]. - For Q1 2025, the display business revenue was 382 million, up 42.46%; the semiconductor business revenue was 212 million, up 63.71%; and the new energy business revenue surged to 78 million, a year-on-year increase of 429.71% [2]. Profitability and Cost Structure - The overall gross margin for 2024 was 39.97%, a decrease of 8.98 percentage points, with a net margin of -8.69%, down 12.37 percentage points [3]. - The gross margin for the display business was 38.36%, down 11.36 percentage points; for the semiconductor business, it was 45.75%, down 7.08 percentage points; and for the new energy business, it was 30.81%, down 4.74 percentage points [3]. - The company’s R&D expenses increased by 13.03% year-on-year to 724 million, reflecting a commitment to innovation despite the financial losses [3]. Strategic Initiatives - The company is increasing its focus on advanced process technologies, particularly in the 14nm and below categories, with successful deliveries of key products [4]. - The strategic investment in Hubei Xingchen aims to deepen partnerships with core customers and enhance capabilities in advanced packaging technology [5]. Future Outlook - Revenue projections for 2025-2027 are estimated at 3.458 billion, 4.587 billion, and 5.946 billion, with expected net profits of 249 million, 393 million, and 559 million respectively, indicating a positive growth trajectory [5].

Core Viewpoint - The company's performance has fallen short of expectations, prompting increased investment in the semiconductor sector and ongoing improvements in product layout, while the display segment is gradually stabilizing and recovering with proactive new product development [1] Financial Performance - The company's revenue for 2024 is projected at 2.565 billion yuan, representing a 5.59% increase, while the net profit attributable to shareholders is expected to be -98 million yuan, a decline of 165%. The non-recurring net profit is forecasted at -159 million yuan, down 582% [3] - In Q4 2024, revenue is expected to be 734 million yuan, a decrease of 16.97%, with a net profit of -180 million yuan, down 210.5%. For Q1 2025, revenue is projected at 689 million yuan, an increase of 64.92%, with a net profit of 38 million yuan, up 336% [3] - The gross margin for 2024 is expected to be 39.97%, down 8.98 percentage points year-on-year, while the net margin is projected at -8.69%, down 12.37 percentage points year-on-year. For Q1 2025, the gross margin is expected to be 41.75%, down 5.26 percentage points year-on-year, and the net margin is projected at 4.40%, up 13.97 percentage points year-on-year [3] Semiconductor Sector - The semiconductor segment's revenue for 2024 is projected at 768 million yuan, an increase of 94.65%, with Q1 2025 revenue expected to be approximately 212 million yuan, up 63.71%. The order backlog for the semiconductor sector as of April 24, 2025, is 1.668 billion yuan [4] - R&D investment in the semiconductor sector for 2024 is expected to be 358 million yuan, an increase of 32.76%. The company is enhancing its layout in front-end, advanced packaging, and back-end fields, with successful orders in advanced process equipment and ongoing development in dark field technology [4] Display Sector - The display segment's revenue for Q1 2025 is projected at 382 million yuan, an increase of 42.46%. The order backlog for the display and new energy sectors as of April 24, 2025, is 764 million yuan and 412 million yuan, respectively [4] - The company is intensifying R&D efforts in panel front-end, mid-end, and back-end process equipment, as well as in new display products such as OLED and Micro-OLED, aiming to expand its presence among overseas core customers [4]

Investment Rating - The investment rating for the company is "Recommended" (maintained) [1] Core Views - The company has sufficient orders on hand and is making steady progress in the semiconductor sector. In 2024, the company achieved revenue of 2.565 billion yuan, a year-on-year increase of 5.59%, but reported a net profit attributable to shareholders of -98 million yuan, a decline of 165.02% year-on-year [3][6] - The company is focusing on continuous R&D investment, with a total order amount of approximately 2.844 billion yuan as of the annual report, including 764 million yuan in the display sector, 1.668 billion yuan in the semiconductor sector, and 412 million yuan in the new energy sector [6][7] Summary by Sections Financial Performance - In 2024, the company reported a revenue of 2.565 billion yuan, with a gross margin of 39.97% and a net margin of -8.69%. The first quarter of 2025 saw a revenue of 689 million yuan, a year-on-year increase of 64.92% [6][8] - The company’s revenue projections for 2025 to 2027 are 3.335 billion yuan, 4.168 billion yuan, and 5.210 billion yuan, respectively, with corresponding net profits of 230 million yuan, 354 million yuan, and 495 million yuan [5][9] Business Segments - In the display sector, the company achieved sales revenue of 1.591 billion yuan in 2024, a decrease of 8.98% year-on-year. The gross margin for this segment was 38.36% [6][7] - The semiconductor sector showed significant growth, with revenue of 768 million yuan in 2024, an increase of 94.65% year-on-year. The company is heavily investing in R&D for this sector, with expenditures of 358 million yuan, a growth of 32.76% [6][7] - In the new energy sector, revenue was 167 million yuan in 2024, a decline of 30.71% year-on-year [6] Order Backlog - The company has a robust order backlog, with total orders amounting to approximately 2.844 billion yuan, which provides a solid foundation for future revenue [6][7] Market Position - The company is one of the few listed firms capable of producing front-end measurement equipment in the semiconductor testing equipment sector, which is characterized by low domestic supply rates [7][8]

Core Viewpoint - The company reported mixed financial results for 2024, with a slight increase in revenue but significant losses in net profit, while Q1 2025 showed strong growth in both revenue and net profit [1][2]. Financial Performance - For 2024, the company achieved revenue of 2.565 billion yuan, a year-on-year increase of 5.59%, but reported a net loss of 98 million yuan, a decline of 165.02% year-on-year [1]. - In Q1 2025, the company generated revenue of 689 million yuan, a year-on-year increase of 64.92%, and a net profit of 38 million yuan, a significant increase of 336.06% year-on-year [1]. Cost Management and R&D Investment - The overall gross margin for 2024 was 39.97%, down by 8.98 percentage points year-on-year; the expense ratios for sales, management, and R&D were 7.31%, 12.01%, and 28.23%, respectively [2]. - The company has made significant progress in R&D, particularly in new display technologies and precision optical instruments, achieving exclusive orders in the AR/VR sector [2]. Sector Performance - In the display sector, the company faced challenges with revenue of 1.591 billion yuan, a decline of 8.98% year-on-year, attributed to geopolitical tensions and weak consumer demand [2]. - The semiconductor business saw substantial growth, with revenue of 768 million yuan, an increase of 94.65% year-on-year, and accounted for 29.94% of total revenue [3]. - The renewable energy segment reported revenue of 167 million yuan, a decrease of 30.71% year-on-year, impacted by supply-demand imbalances and increased competition [3]. Future Outlook - The company anticipates revenue growth for 2025-2027, projecting revenues of 3.668 billion yuan, 4.475 billion yuan, and 5.294 billion yuan, with net profits of 224 million yuan, 362 million yuan, and 568 million yuan, respectively [4]. - A price-to-sales (P/S) valuation method suggests a target price of 68.18 yuan per share for 2025, reflecting the company's growth potential in the display and semiconductor sectors [4].

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 68.18 CNY per share, maintaining the rating [5]. Core Views - The semiconductor business continues to grow, while the display segment is awaiting a cyclical recovery [3]. - The company reported a revenue of 2.565 billion CNY in 2024, a year-on-year increase of 5.59%, but a net profit loss of 98 million CNY, a decline of 165.02% year-on-year [1]. - In Q1 2025, the company achieved a revenue of 689 million CNY, a year-on-year increase of 64.92%, and a net profit of 38 million CNY, a year-on-year increase of 336.06% [1]. Summary by Sections Display Sector - In 2024, the display sector's revenue was 1.591 billion CNY, down 8.98% year-on-year, impacted by geopolitical tensions and weak economic recovery [8]. - The company adopted a proactive pricing strategy due to intensified competition, resulting in a decline in gross margin by 9.02 percentage points to 38.36% [8]. - Significant progress was made in product development, particularly in new display technologies and AR/VR, securing exclusive orders from top global clients [8]. Semiconductor Sector - The semiconductor business saw a remarkable growth in 2024, with revenue reaching 768 million CNY, up 94.65% year-on-year, accounting for 29.94% of total revenue [8]. - By the end of 2024, the semiconductor sector had an order backlog of 1.668 billion CNY, representing 58.65% of total orders, driving the company's performance [8]. - The company has made technological advancements in 14nm and 7nm process defect detection equipment, with ongoing validations for more advanced processes [8]. New Energy Sector - The new energy sector generated revenue of 167 million CNY in 2024, a decrease of 30.71% year-on-year, affected by supply-demand imbalances and increased competition [9]. - The gross margin for this sector was 30.81%, down 4.54 percentage points year-on-year [9]. Financial Projections - Revenue projections for 2025-2027 are 3.668 billion CNY, 4.475 billion CNY, and 5.294 billion CNY, respectively, with net profits expected to be 224 million CNY, 362 million CNY, and 568 million CNY [10]. - The company is valued at a PS ratio of 5.2 times for 2025, reflecting its growth potential in the display and semiconductor sectors [10].