Investment Rating - The investment rating for the company is "Buy" (maintained) [1][8] Core Views - The semiconductor measurement business is experiencing significant growth, driven by increased orders and new opportunities in advanced packaging [3][5] - The company has adjusted its net profit forecasts for 2024-2026 to 2.1 billion, 3.6 billion, and 4.6 billion respectively, reflecting strong growth potential in the semiconductor sector [5][6] Summary by Relevant Sections Financial Performance - For 2023, the company reported revenue of 2,429 million, with a projected increase to 2,900 million in 2024, representing a year-on-year growth rate of 19% [1] - The net profit for 2023 is expected to be 150 million, with a forecasted increase to 212 million in 2024, indicating a growth rate of 41% [1] - The earnings per share (EPS) is projected to rise from 0.55 in 2023 to 0.77 in 2024 [1] Business Segments - **Semiconductor Measurement**: Revenue reached 180 million in Q3 2024, showing a year-on-year increase of 108% and a quarter-on-quarter increase of 82%. The company has a backlog of orders amounting to 1.69 billion, up 13.5% from the previous year [3] - **Display Business**: Revenue for Q3 2024 was 493 million, a year-on-year increase of 56%. The company is actively expanding into the AR/VR sector, establishing itself as a leading provider of Micro-OLED cell detection solutions [3][5] - **New Energy**: Revenue for Q3 2024 was 29 million, with a backlog of orders at 646 million, indicating a 20% year-on-year increase. The company is strengthening partnerships with major clients in the lithium battery equipment sector [5] Market Position and Outlook - The company is positioned as a leader in the domestic semiconductor testing equipment market, with strong growth potential in both semiconductor measurement and advanced packaging sectors [5][6] - The report emphasizes the company's strategic investments in R&D and partnerships to capitalize on emerging trends in AI and advanced packaging [3][5]

Summary of Conference Call Records Company Overview - The conference call discusses the financial performance and operational status of a company in the semiconductor and display industries for the third quarter of 2020. The company reported significant growth in revenue and net profit compared to the previous year. Key Financial Metrics - For the first three quarters of 2020, the company achieved a revenue of 75.954 million yuan, a year-on-year increase of 63.35% [1] - The net profit attributable to shareholders was 32.4132 million yuan, up 231.25% year-on-year [1] - For the period from January to September 2020, the company reported a revenue of 1.830684 billion yuan, a year-on-year increase of 18.50% [1] - The net profit attributable to shareholders for the same period was 82.2411 million yuan, a significant increase of 752.58% year-on-year [1] Order Backlog - As of the report date, the company had a total order backlog of approximately 3.168 billion yuan, with specific segments as follows: - Display sector: 831 million yuan - Semiconductor sector: 1.69 billion yuan - New energy sector: 646 million yuan [1] Research and Development (R&D) Investment - The company has increased its R&D investment, particularly in the semiconductor sector, which is characterized by high capital and technical requirements. The R&D investment for the first three quarters of 2020 was 47.43415 million yuan, a year-on-year increase of 5.09% [1] - R&D investment in the semiconductor sector was 21.55033 million yuan, up 33.12% year-on-year, while investment in the display sector decreased by 5.69% [2] Gross Margin Analysis - The gross margin for the display sector was approximately 14.28%, remaining stable compared to the first half of the year [2] - The semiconductor sector saw a gross margin recovery to about 49.18%, an increase of 6.77% from the first half of the year [2] - The new energy sector's gross margin was 25.01%, down 5.53% from the first half of the year [2] Segment Performance - The display sector achieved sales revenue of 492.5118 million yuan, a year-on-year increase of 55.96% [2] - For the first nine months of 2020, the display sector's sales revenue was 1.268275 billion yuan, a year-on-year increase of 26% [2] - The semiconductor sector reported sales revenue of 179.6754 million yuan, a year-on-year increase of 108.36% [3] - The company is focusing on expanding its market presence in the semiconductor sector, particularly in advanced process technologies [3] Market Outlook - The company expressed confidence in achieving significant growth in new orders for the remainder of the year, particularly in the semiconductor sector [4][5] - The management anticipates that the fourth quarter will see a strong performance in terms of order fulfillment and revenue recognition, driven by previously delayed orders [7][10] Strategic Investments - The company announced an investment in a new entity, aiming to enhance its capabilities in the semiconductor sector and leverage synergies with existing operations [6][7] Conclusion - The company is experiencing robust growth across its semiconductor and display segments, with a strong order backlog and increased R&D investment. The management is optimistic about future performance, particularly in the semiconductor sector, and is actively pursuing strategic investments to bolster its market position.

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company has shown consistent revenue growth, particularly in the semiconductor business, which is expected to continue expanding [1] - The adjustment in product structure has led to a decline in gross margin, but the company has significantly improved its cost control capabilities while maintaining high R&D investment [1] - The company is well-positioned to benefit from the acceleration of domestic substitution in the display, semiconductor, and new energy sectors [1] Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 1.831 billion yuan, a year-on-year increase of 18.5%, with semiconductor revenue growing by 95.3% [1] - The net profit attributable to shareholders for the first three quarters was 82 million yuan, a year-on-year increase of 752.6% [1] - The gross margin for the first three quarters was 43.43%, down 1.68 percentage points year-on-year, while the net profit margin increased by 5.84 percentage points to 2.44% [1] Order and Inventory Summary - As of the end of Q3 2024, the company's contract liabilities reached 489 million yuan, up 36.6% year-on-year, and inventory was 1.914 billion yuan, up 22.4% year-on-year [1] - The company has a backlog of orders amounting to 3.168 billion yuan, with semiconductor orders increasing by 13.5% year-on-year [1] Business Segment Overview - The company is actively expanding in the display panel testing equipment sector, semiconductor testing equipment, and new energy equipment, which opens up growth opportunities [1] - The semiconductor testing equipment market is expected to see increased domestic substitution due to geopolitical factors affecting foreign competitors [1] - The company has signed a strategic cooperation agreement with a new energy partner, which will enhance its position in the lithium battery assembly and testing market [1] Earnings Forecast and Valuation - The report forecasts net profits attributable to shareholders for 2024, 2025, and 2026 to be 267 million, 377 million, and 504 million yuan, respectively, with corresponding P/E ratios of 64, 45, and 34 times [1]

Investment Rating - The report maintains a "Buy" rating for the company [1][2]. Core Views - The company has shown significant revenue growth, with a 63.3% year-on-year increase in Q3 2024, leading to a total revenue of 7.1 billion yuan for the quarter [1]. - The semiconductor business is experiencing rapid growth, with a 95.3% increase in revenue year-on-year, while the display business is recovering quickly [1][2]. - The company has a strong order backlog of 3.17 billion yuan, with substantial orders in the semiconductor and display sectors [1]. Summary by Sections Financial Performance - For Q1-Q3 2024, the company achieved a total revenue of 1.83 billion yuan, up 18.5% year-on-year, and a net profit of 82.24 million yuan, compared to a loss of 12.6 million yuan in the same period last year [1]. - The gross margin for Q1-Q3 2024 was 43.4%, a decrease of 1.7 percentage points year-on-year, while the net margin improved by 5.8 percentage points to 2.4% [1]. Business Segments - Revenue from the display, semiconductor, and new energy sectors for Q1-Q3 2024 was 1.27 billion, 410 million, and 120 million yuan, respectively, reflecting year-on-year growth rates of 20.5%, 95.3%, and -51.5% [1]. - The display sector is benefiting from investments in large-size OLED factories and upgrades in production automation, while the semiconductor sector has secured repeat orders for advanced process equipment [1][2]. Research and Development - The company invested 470 million yuan in R&D for Q1-Q3 2024, an increase of 22.96 million yuan year-on-year, indicating a strong commitment to enhancing product competitiveness [2]. - New partnerships in the AR/VR industry and expansion into the semiconductor manufacturing packaging chain are expected to drive future growth [2]. Profit Forecast and Valuation - The projected net profits for 2024, 2025, and 2026 are 240 million, 320 million, and 450 million yuan, respectively, with a compound annual growth rate of 44% [2]. - The current price-to-earnings ratios are 71, 53, and 38 for the next three years, indicating a strong growth outlook [2].

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][6][9] Core Insights - The company reported a revenue of 1.831 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 18.50%. The net profit attributable to shareholders reached 82 million yuan, a significant increase of 752.58% year-on-year [2][3] - In Q3 2024, the company achieved a revenue of 710 million yuan, up 63.35% year-on-year and 0.93% quarter-on-quarter. The net profit attributable to shareholders was 32 million yuan, reflecting a year-on-year increase of 231.25% [3] - The company has a strong order backlog totaling approximately 3.168 billion yuan as of September 30, 2024, with significant contributions from the semiconductor and display sectors [3] Financial Performance Summary - For Q3 2024, the gross margin was 43.97%, a decrease of 4.60 percentage points year-on-year but an increase of 3.21 percentage points quarter-on-quarter. The net profit margin was 0.09%, up 10.47 percentage points year-on-year [3] - The company has increased its R&D investment, with R&D expenses reaching 173 million yuan in Q3 2024, a year-on-year growth of 12.22% [3] - The company’s core products in advanced process defect detection equipment have completed delivery, establishing a leading position in the domestic semiconductor testing equipment market [3] Market Data - As of October 25, 2024, the current stock price is 61.99 yuan, with a 52-week price range of 44.30 to 92.50 yuan. The total market capitalization is approximately 16.952 billion yuan [3][4]

Investment Rating - Maintain Overweight rating: The report maintains an Overweight rating for the company, citing the potential for growth in the semiconductor and display sectors despite a slower-than-expected recovery in the display industry and a sharper-than-expected decline in the new energy sector [1] Core Views - Q3 performance slightly below expectations: The company reported Q1-Q3 2024 revenue of RMB 1.831 billion, up 18.50% YoY, with net profit attributable to shareholders of RMB 82 million, up 753% YoY [1] - Advanced process equipment delivered to customers: The company has delivered advanced process equipment to customers, with multiple semiconductor devices entering mass production [1] - Display industry recovery: The display sector revenue in Q3 2024 was RMB 493 million, up 55.96% YoY, driven by the gradual recovery of the display industry [1] - Strong order backlog: As of October 24, 2024, the company has an order backlog of RMB 3.168 billion, with RMB 831 million in display, RMB 1.690 billion in semiconductor, and RMB 646 million in new energy [1] Financial Summary - Revenue and profit adjustments: The report adjusts the company's 2024-2026 net profit attributable to shareholders to RMB 195 million, RMB 368 million, and RMB 506 million, respectively, down from previous estimates of RMB 254 million, RMB 426 million, and RMB 572 million [1] - EPS adjustments: The 2024-2026 EPS is adjusted to RMB 0.71, RMB 1.34, and RMB 1.85, down from previous estimates of RMB 0.93, RMB 1.56, and RMB 2.09 [1] - Target price increase: The target price is raised to RMB 80.40, up from RMB 74.40, based on a 60x PE multiple for 2025 [1] Industry and Market Performance - Semiconductor and display sector growth: The company is actively advancing the development of new display products such as OLED and Micro-OLED, and is accelerating the iteration of older semiconductor products [1] - Market valuation: The company's current market valuation is RMB 16.952 billion, with a 52-week price range of RMB 44.48 to RMB 92.50 [6] Financial Ratios and Metrics - Gross margin and net margin: Q1-Q3 2024 gross margin was 43.43%, down 1.68 percentage points YoY, while net margin was 2.44%, up 5.84 percentage points YoY [1] - R&D expenditure: R&D expenses for Q1-Q3 2024 were RMB 468 million, accounting for 25.6% of revenue [1] - Inventory levels: Q3 2024 inventory was RMB 1.914 billion, up 8.7% QoQ [1]

精测电子投资者关系活动记录表（2024 年度） 证券代码：300567 证券简称：精测电子 编号：2024-010 | --- | --- | --- | |----------------------|----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | 特定对象调研 □分析师会议 | | | ...

证券代码：300567 证券简称：精测电子 公告编号：2024-154 武汉精测电子集团股份有限公司 第四届董事会第四十次会议决议公告 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。 一、董事会会议召开情况 董事会认为：公司《2024年第三季度报告》及其摘要真实反映了本报告期公 司的经营情况，所记载事项不存在虚假记载、误导性陈述或重大遗漏，所披露的 信息真实、准确、完整。 本议案在提交董事会审议前已经公司董事会审计委员会审议通过。 具体内容详见公司于 2024 年 10 月 25 日在巨潮资讯网 （http://www.cninfo.com.cn）披露的《2024年第三季度报告》。 三、备查文件 1、《武汉精测电子集团股份有限公司第四届董事会第四十次会议决议》。 特此公告。 武汉精测电子集团股份有限公司（以下简称"公司"）第四届董事会第四十 次会议由公司董事长彭骞先生召集，会议通知于2024年10月18日以电子邮件的方 式发出。会议于2024年10月23日10点在武汉市东湖新技术开发区流芳园南路22 号公司会议室以现场结合通讯会议的方式召开。 本次会议应出席董事 ...

Financial Performance - The company's revenue for Q3 2024 reached ¥709,595,433.91, representing a 63.35% increase year-over-year[3] - Net profit attributable to shareholders was ¥32,413,240.05, a significant increase of 231.25% compared to the same period last year[3] - The net profit after deducting non-recurring gains and losses was ¥3,680,824.90, up 110.24% year-over-year[3] - The basic earnings per share for the period was ¥0.12, a 233.33% increase compared to the same period last year[3] - The company achieved operating revenue of CNY 709.60 million, a year-on-year increase of 63.35%, and a net profit attributable to shareholders of CNY 32.41 million, up 231.25% year-on-year[15] - For the period from January to September 2024, the company reported operating revenue of CNY 1,830.64 million, an 18.50% increase year-on-year, and a net profit of CNY 82.24 million, a significant rise of 752.58% year-on-year[15] - Total operating revenue for Q3 2024 reached ¥1,830,638,423.32, an increase of 18.54% compared to ¥1,544,843,546.42 in the same period last year[22] - Net profit for Q3 2024 was ¥44,747,144.25, a significant recovery from a net loss of ¥52,510,757.48 in the previous year[23] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥10,244,650,586.80, reflecting an 11.10% increase from the end of the previous year[3] - Total liabilities reached ¥5,787,034,528.88, compared to ¥5,002,248,156.74 in the previous year, indicating a growth in financial obligations[21] - The company's equity attributable to shareholders decreased to ¥3,584,718,919.20 from ¥3,705,568,724.68 year-on-year[21] Cash Flow - The company reported a net cash flow from operating activities of -¥118,981,770.23, which is an improvement of 72.61% compared to the previous year[3] - Cash inflow from operating activities totaled CNY 2,376,182,992.61, an increase from CNY 2,266,138,421.82 in the previous period[25] - Net cash flow from operating activities was negative at CNY -118,981,770.23, improving from CNY -434,360,074.26 in the previous period[25] - Cash inflow from financing activities amounted to CNY 2,308,137,700.40, down from CNY 3,105,975,220.15 in the previous period[26] - Net cash flow from financing activities was CNY 859,067,658.11, a decrease from CNY 1,505,681,339.69 in the previous period[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 17,284, with the top 10 shareholders holding a combined 44.77% of the shares[10] - Peng Qian is the largest shareholder, holding 25.64% of the shares, equivalent to 70,112,000 shares, with 52,584,000 shares under lock-up[10] - The second-largest shareholder, Chen Kai, holds 8.24% of the shares, totaling 22,529,813 shares, with 16,897,360 shares under lock-up[10] - The company has a total of 71,418,750 shares under lock-up, with 53,325 shares released during the reporting period[14] Research and Development - Research and development investment for the period increased by CNY 15.28 million, totaling CNY 474.34 million for January to September 2024, an increase of CNY 22.96 million year-on-year[15] - Research and development expenses rose to ¥467,845,070.04, reflecting a commitment to innovation, compared to ¥438,479,310.43 in the previous year[22] - The company is enhancing its product structure and increasing R&D efforts in OLED and Micro-OLED technologies, aiming to expand its core customer base overseas[16] Government Support and Financing - The company received government subsidies amounting to ¥25,854,134.45 during the quarter, contributing to its financial performance[5] - The company’s long-term borrowings increased by 332.86% to ¥1,181,723,364.22, indicating a significant rise in financing activities[8] Market and Product Development - The company has not disclosed any future outlook or performance guidance in the provided documents[11] - There are no new products or technologies mentioned in the current reporting period[11] - The company has not announced any market expansion or acquisition strategies in the report[11] - The company has adjusted its share repurchase plan to focus on cancellation and reduction of registered capital, resulting in a decrease in total share capital from 275,208,110 shares to 273,466,810 shares[17] - The company has changed the implementation location and method for part of its fundraising projects, specifically for the Micro-LED display full-process testing equipment project, from leasing to self-built facilities[18] Comprehensive Income - The total comprehensive income attributable to the parent company reached CNY 72,824,812.34, a decrease of CNY 1,069,165.86 compared to the previous period[24] - Basic earnings per share were CNY 0.30, down by CNY 0.05 from the previous period[24]

本次会议应出席监事3名，实际出席3名（其中：以通讯表决方式出席会议的 人数为1人），监事苗丹女士以通讯表决方式出席会议。会议由公司监事会主席 苗丹女士主持，董事会秘书刘炳华先生列席了本次会议。本次会议的召集、召开 和表决程序符合《中华人民共和国公司法》等有关法律、法规及《武汉精测电子 集团股份有限公司章程》的有关规定，会议合法有效。 二、监事会会议审议情况 经与会监事认真审议，通过以下决议： 武汉精测电子集团股份有限公司 第四届监事会第三十一次会议决议公告 公司及监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、监事会会议召开情况 武汉精测电子集团股份有限公司（以下简称"公司"）第四届监事会第三十 一次会议由公司监事会主席苗丹女士召集，会议通知于2024年10月18日以电子邮 件的方式发出。会议于2024年10月23日10点30分在武汉市东湖新技术开发区流芳 园南路22号公司会议室以现场结合通讯会议方式召开。 证券代码：300567 证券简称：精测电子 公告编号：2024-155 （一）会议以3票同意、0票反对、0票弃权，审议通过《关于公司<2024年 第三季度报告 ...