Core Points - Wuhan's Economic and Information Technology Bureau has announced a public list of 13 entities and projects that will receive municipal subsidies for national pilot demonstration projects in the field of artificial intelligence [1] - Eight units have been approved for the first time as winners of the national AI medical device innovation task, and five units have been approved as excellent smart factories for 2024, each receiving a subsidy of 1 million RMB [1][2] Group 1 - The eight proposed winners of the municipal subsidy for "National AI Medical Device Innovation Task" include enterprises, universities, and medical institutions, showcasing strong innovation vitality [2] - The "Neurocontrol Center" at a top-tier hospital in Wuhan has developed a unique AI-assisted evaluation system for motor function disorders, which is the first of its kind globally [2][3] - Wuhan has secured eight projects in the national-level winning unit list, ranking first among sub-provincial cities in terms of project quantity, with several projects being domestic firsts [3] Group 2 - The establishment of the first batch of "Excellent Smart Factories" in the country reflects the official recognition of leading smart factories, with Wuhan's Jingce Electronics Group being among them [4] - The company has seen a 23.20% revenue increase in the first half of the year compared to the same period last year, indicating strong market performance and confidence in development [4] - The policies in Wuhan encourage enterprises and institutions to strengthen innovation and aim for national recognition, shifting the focus from traditional industries to AI-driven industrial paradigms [5]

Investment Rating - The investment rating for the company is "Buy" and it is maintained [8]. Core Views - The company reported significant order growth, with its semiconductor business achieving profitability [6][12]. - In the first half of 2025, the company achieved revenue of 1.381 billion yuan, a year-on-year increase of 23.20%. However, the net profit attributable to the parent company was 28 million yuan, a decrease of 44.48% year-on-year [2][6]. - The company has a total order backlog of approximately 3.609 billion yuan, with 1.823 billion yuan in the semiconductor sector, indicating strong demand [12]. Financial Performance Summary - In H1 2025, revenue from flat panel display, semiconductor, and new energy segments were 671 million yuan, 563 million yuan, and 120 million yuan, with year-on-year growth rates of -13.54%, +146.44%, and +27.32% respectively [12]. - The gross profit margin for H1 2025 was 44.05%, an increase of 1.0 percentage points year-on-year [2][6]. - The company’s R&D investment reached 320 million yuan in H1 2025, accounting for 23.17% of revenue, with a year-on-year increase of 6.31% [12]. Future Outlook - The company expects net profits attributable to the parent company to be 196 million yuan, 318 million yuan, and 590 million yuan for 2025, 2026, and 2027 respectively, with corresponding PE ratios of 104x, 64x, and 35x [12]. - The semiconductor sector is anticipated to become the core driver of the company's performance, with advanced process products increasingly contributing to overall revenue and orders [12].

证券代码：300567 证券简称：精测电子 公告编号：2025-114 武汉精测电子集团股份有限公司 关于变更持续督导保荐代表人的公告 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。 武汉精测电子集团股份有限公司（以下简称"公司"）于近日收到保荐机构 广发证券股份有限公司（以下简称"广发证券"）出具的《关于变更公司保荐代 表人安排的通知》，广发证券原指派的保荐代表人陆靖先生因工作变动原因，不 再负责公司2023年向不特定对象发行可转换公司债券的持续督导工作。为保证持 续督导工作的有序进行，广发证券决定由保荐代表人金坤明先生（简历详见附件） 接替陆靖先生的持续督导工作。 公司董事会对陆靖先生在担任公司持续督导保荐代表人期间所做的工作表 示衷心的感谢！ 特此公告。 武汉精测电子集团股份有限公司 董事会 2025年9月15日 附件： 保荐代表人简介 金坤明：中山大学硕士，注册保荐代表人，2014年加入广发证券，曾主持及 参与新源国能、康盛生物、保伦股份、广州酒家、百合股份、林氏家居、名创优 品、水晶岛等IPO项目；烽火通信定向增发、燕塘乳业定向增发、好莱客可转债 项目 ...

Event Overview - In the first half of 2025, the company reported operating revenue of 1.381 billion yuan, a year-on-year increase of 23.2% [1] - The net profit attributable to shareholders was 28 million yuan, a year-on-year decrease of 44.48% [1] - The gross margin was 44.05%, up 0.96 percentage points year-on-year, while the net profit margin was 7.44%, up 3.5 percentage points year-on-year [1] - In Q2 2025, the company achieved operating revenue of 692 million yuan, a year-on-year decrease of 1.61% [1] - The net profit attributable to shareholders was -10 million yuan, a year-on-year decrease of 115.1% [1] - The gross margin was 46.35%, up 5.59 percentage points year-on-year, while the net profit margin was 10.46%, down 1.51 percentage points year-on-year [1] Semiconductor Business Growth - In the first half of 2025, the semiconductor segment achieved sales revenue of 563 million yuan, a year-on-year increase of 146.44% [2] - The gross margin was 48.69%, up 8.09 percentage points year-on-year, and the net profit was 158 million yuan, a year-on-year increase of 2,316.39% [2] - The company had approximately 1.823 billion yuan in orders in the semiconductor field, accounting for 50.51% of total orders [2] - The company is developing a comprehensive product layout in semiconductor testing, including front-end, advanced packaging, and back-end testing technologies [2][3] Display Business Recovery - In the first half of 2025, the display segment achieved sales revenue of 671 million yuan, a year-on-year decrease of 13.54% [4] - The net profit attributable to shareholders was 27.75 million yuan, a year-on-year decrease of 66.08% [4] - The gross margin was 43.09%, up 1.62 percentage points year-on-year [4] - The company had approximately 1.44 billion yuan in orders in the display field, an increase of 88.48% compared to April 2025 [4] - The company is focusing on high-margin new products and deepening its layout in the AR/VR industry [4] New Energy Sector Performance - In the first half of 2025, the new energy sector achieved sales revenue of 120 million yuan, a year-on-year increase of 27.32% [4] - The gross margin was 28.74%, down 3.16 percentage points year-on-year [4] - The company had approximately 346 million yuan in orders in the new energy sector [4] - The company is optimizing its business structure and reallocating resources to its core business areas [4] Investment Forecast - The company adjusted its revenue forecasts for 2025-2027 to 3.316 billion, 4.112 billion, and 5.024 billion yuan respectively [5] - The net profit forecasts for the same period are 183 million, 329 million, and 560 million yuan respectively [5] - The diluted EPS is projected to be 0.65, 1.17, and 2.00 yuan [5] - The current stock price corresponds to PE multiples of 112, 62, and 36 times for 2025-2027 [6] - The company maintains an "overweight" rating due to its leadership in display and semiconductor testing equipment [6]

Investment Rating - Industry investment rating: Overweight [1] Core Viewpoints - Samsung Display is set to start mass production of OLED panels for Apple's MacBook Pro by the end of Q2 2026 [4][8] - Domestic OLED production lines are being actively constructed, with a focus on large-sized IT applications, which is expected to expand the OLED market [5][6] - The demand for IT panels (monitors and laptops) is experiencing significant growth, driven by high-end product adoption and diversification among suppliers [6] Summary by Sections - **OLED Production and Market Penetration** - TCL Technology Group announced a joint investment to build an 8.6-generation printed OLED production line in Guangzhou, with a total investment of approximately RMB 29.5 billion [5] - According to Counterpoint Research, domestic OLED panels are expected to accelerate their penetration into the global market by Q2 2025, with Samsung Display holding a 37% market share [5] - **IT Panel Demand and Growth** - The demand for smartphones and TVs is stabilizing but remains weak compared to the same period last year, while IT panels are becoming a new growth engine for OLED [6] - The construction of 8.6-generation AMOLED production lines by BOE and Visionox will lay the foundation for future applications in IT-sized OLED [6] - **Investment Recommendations** - Key companies recommended in the panel detection equipment sector include Jingzhida, with other equipment companies such as Jingce Electronics and Aolide also highlighted [10]

Core Viewpoint - Jingce Electronics has shown a significant increase in stock price and trading volume, indicating positive market sentiment and potential growth opportunities in the display, semiconductor, and new energy detection systems sectors [1][2]. Financial Performance - As of August 10, 2025, Jingce Electronics reported a revenue of 1.381 billion yuan for the first half of 2025, representing a year-on-year growth of 23.20%. However, the net profit attributable to shareholders decreased by 44.48% to 27.67 million yuan [2]. - The company has distributed a total of 530 million yuan in dividends since its A-share listing, with 136 million yuan distributed over the past three years [3]. Stock Market Activity - On September 11, 2023, Jingce Electronics' stock price rose by 2.09% to 71.84 yuan per share, with a trading volume of 251 million yuan and a turnover rate of 1.76%. The total market capitalization reached 20.097 billion yuan [1]. - Year-to-date, the stock price has increased by 11.73%, with notable gains of 7.18% over the past five trading days, 19.20% over the past 20 days, and 26.93% over the past 60 days [1]. Shareholder Structure - As of August 10, 2025, the number of shareholders increased to 29,200, a rise of 5.59%, while the average number of circulating shares per person decreased by 5.30% to 6,920 shares [2]. - The top ten circulating shareholders include significant institutional investors, with notable changes in holdings among various funds [3].

每经头条（nbdtoutiao）——雷军挥泪"斩"王腾，小米爱将泄密"失街亭"，大厂正风肃纪"拼牙口" （记者 曾健辉） 截至发稿，精测电子市值为196亿元。 每经AI快讯，精测电子（SZ 300567，收盘价：69.97元）9月9日晚间发布公告称，截至本公告日，彭骞 累计质押股数约为3405万股，占公司总股本比例为12.17%。 ...

证券代码：300567 证券简称：精测电子 公告编号：2025-113 武汉精测电子集团股份有限公司 成。） 2、股东股份累计被质押的情况 （注 2：上述数据以公司截至 2025 年 9 月 8 日的总股本 279,744,095 股为 依据计算。上表中"已质押股份限售和冻结数量"和"未质押股份限售和冻结数 量"中限售部分为高管锁定股，无冻结股份。） 关于控股股东、实际控制人部分股权质押展期的公告 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。 武汉精测电子集团股份有限公司（以下简称"公司"）近日接到公司控股股 东、实际控制人彭骞先生的通知，彭骞先生将其直接持有的公司部分股权办理了 质押展期的手续，具体情况如下： 一、股东股份质押展期的基本情况 | 股东 名称 | 是否为控 股股东或 第一大股 东及其一 致行动人 | 本次质 押数量 （股） | 占其直 接所持 股份比 例（%） | 占公 司总 股本 比例 （%） | 是否 为限 售股 | 是否 为补 充质 押 | 质押起 始日 | 原质押 到期日 期 | 本次展 期质押 到期日 | 质权人 | 质押 用途 | ...

证券代码：300567 证券简称：精测电子 公告编号：2025-112 武汉精测电子集团股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 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。 武汉精测电子集团股份有限公司（以下简称"公司"或"精测电子"）于 2025 年 4 月 23 日分别召开了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《关于公司及子公司使用部分闲置募集资金进行现金管理的议案》， 同意公司在确保不影响募集资金投资项目建设、募集资金使用和不改变募集资金 用途的情况下，使用额度不超过 4 亿元人民币暂时闲置募集资金进行现金管理， 购买安全性高、流动性好、低风险的理财产品。期限自公司董事会审议通过之日 起十二个月内有效，在决议有效期内，上述额度可循环使用。公司监事会、保荐 机构均发表了明确同意的意见。具体内容详见公司于 2025 年 4 月 25 日在巨潮资 讯网（http://www.cninfo.com.cn）披露的《武汉精测电子集团股份有限公司关 于公司及子公司使用部分闲置募集资金进行现金管理的公告》（公告编号： 202 ...

Core Viewpoint - Jingce Electronics has shown a mixed performance in stock price and financial results, with a notable increase in revenue but a significant decline in net profit, indicating potential challenges ahead for the company [1][2]. Financial Performance - As of August 10, 2025, Jingce Electronics reported a revenue of 1.381 billion yuan for the first half of 2025, representing a year-on-year growth of 23.20% [2]. - The net profit attributable to shareholders for the same period was 27.67 million yuan, which reflects a year-on-year decrease of 44.48% [2]. Stock Market Activity - On September 8, 2025, Jingce Electronics' stock price increased by 2.04%, reaching 72.04 yuan per share, with a trading volume of 627 million yuan and a turnover rate of 4.38% [1]. - The company has seen a year-to-date stock price increase of 12.04%, with a 1.17% decline over the last five trading days, a 19.87% increase over the last 20 days, and a 24.87% increase over the last 60 days [1]. Shareholder Information - As of August 10, 2025, the number of shareholders for Jingce Electronics increased to 29,200, marking a 5.59% rise from the previous period [2]. - The average number of tradable shares per shareholder decreased by 5.30% to 6,920 shares [2]. Dividend Distribution - Since its A-share listing, Jingce Electronics has distributed a total of 530 million yuan in dividends, with 136 million yuan distributed over the past three years [3]. Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders included notable funds such as Yinhua Integrated Circuit Mixed A and Southern Information Innovation Mixed A, with changes in their holdings indicating active institutional interest [3].