上海会畅通讯股份有限公司 特此公告！ 关于证券事务代表辞职的公告 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。 上海会畅通讯股份有限公司（以下简称"公司"）董事会于近日收到证券事 务代表沈国良先生提交的书面辞职报告，其因个人原因申请辞去公司证券事务代 表职务。辞职后，沈国良先生不再担任公司任何职务，辞职报告自送达董事会之 日起生效。 股票简称：会畅通讯 股票代码：300578 公告编号：2025-021 沈国良先生的辞职不会影响公司相关工作的正常开展。公司董事会对其在任 职期间恪尽职守、勤勉尽责表示衷心的感谢！ 根据《深圳证券交易所股票上市规则》的有关规定，公司将尽快聘任新的证 券事务代表。 上海会畅通讯股份有限公司董事会 2025 年 5 月 7 日 ...

Group 1: Core Views - The recent upgrades in stock ratings by brokerages are primarily concentrated in sectors with significant performance growth, rising industry sentiment, or turnaround situations, particularly in AI and robotics [2][5] - The number of stocks downgraded by brokerages has reached a year-to-date high, with notable downgrades in the coal and tourism sectors [5][6] Group 2: Upgraded Stocks - Multiple stocks in the AI and robotics sectors have received rating upgrades, including: - Platinum New Materials, with a projected net profit of 376 million yuan for 2024, a year-on-year increase of 46.9% [2] - Huichang Communications, expected to achieve a net profit of 29 million yuan in 2024, turning profitable with a 12.28% year-on-year revenue growth in Q1 [2] - Beijing Junzheng, with Q1 revenue of 1.06 billion yuan, a 5.3% year-on-year increase, and anticipated market recovery [3] - Keli Sensor, reporting a net profit of 76 million yuan in Q1, a nearly 76% year-on-year increase [3] - Nanshan Zhishang, recognized for its leading position in domestic wool spinning and new materials applications [3][4] Group 3: Downgraded Stocks - Several coal stocks have been downgraded, including: - Shanxi Coking Coal and Pingmei Shenma, downgraded to "overweight" due to weak coking coal prices [5] - Shanmei International, also downgraded to "overweight" despite low mining costs and potential production increases [5] - The tourism sector has seen downgrades, such as: - Jinjiang Hotels, with a Q1 net profit of 36 million yuan, down 81% year-on-year [5] - Miao Exhibition, downgraded due to declining revenue amid intensified competition [6] Group 4: Market Outlook - Brokerages are optimistic about AI and high-dividend sectors for May, with expectations of a continued oscillating market [7] - Recommendations include focusing on three main directions: financial dividends, self-sufficiency in industries like military, and domestic consumption [7] - The market is expected to follow a gentle recovery path, with attention on cyclical sectors and growth styles, particularly in AI and robotics [7]

Core Viewpoint - The company has reported a slight decrease in annual revenue for 2024 but has turned a profit, while the first quarter of 2025 shows growth in revenue but a significant drop in net profit [1][2]. Group 1: Financial Performance - In 2024, the company achieved an operating income of 453 million yuan, a year-on-year decrease of 0.37%, and a net profit attributable to shareholders of 29 million yuan, marking a return to profitability [1]. - For Q1 2025, the company reported an operating income of 112 million yuan, representing a year-on-year increase of 12.28%, but the net profit attributable to shareholders was 7 million yuan, a decrease of 58.36% compared to the previous year [1]. Group 2: Industry Landscape - The global cloud video conferencing market is projected to reach approximately 6.44 billion USD in 2024, with strong demand from developed countries in Europe and North America, followed closely by the Asia-Pacific region [2]. - By 2030, the global video conferencing market is expected to grow to 19.73 billion USD, with a CAGR of 12.5% from 2022 to 2030, driven by the increasing adoption of cloud technology and Video Conferencing as a Service (VCaaS) [2]. - The company is one of the earliest domestic multi-party communication service providers and currently holds a leading position in China's cloud video communication sector [2]. Group 3: Strategic Initiatives - The company is enhancing its market competitiveness in smart cloud video software and terminals while actively exploring new products like enterprise smart broadcasting and medical intelligent cloud [2]. - Collaborations with major clients and internet giants are being deepened, particularly in the audio-visual conferencing field, to develop products and markets [2]. - The company is also partnering with Tianpeng Technology to explore new opportunities in AI applications, particularly in "AI video communication + medical big data" [2]. Group 4: Investment Outlook - The company has a high coverage rate in the high-end government and enterprise client market and continues to secure partnerships with leading clients, which enhances its brand and service capabilities [3]. - Revenue projections for 2025-2027 are 504 million, 597 million, and 690 million yuan, with year-on-year growth rates of 11.28%, 18.50%, and 15.50% respectively [3]. - Net profit projections for the same period are 33 million, 41 million, and 47 million yuan, with year-on-year growth rates of 11.86%, 24.56%, and 13.74% respectively [3].

Investment Rating - The report upgrades the investment rating of the company to "Recommended" [2][5] Core Views - The company has a comprehensive "cloud + terminal + industry" layout, with significant advantages in domestic intelligent manufacturing. The global cloud video conferencing market is projected to reach approximately $6.44 billion in 2024, with a CAGR of 12.5% from 2022 to 2030 [5][6] - The company is one of the earliest in China to obtain commercial trial qualifications for multi-party communication services and currently holds a leading position in the domestic cloud video communication sector. Its subsidiary, Mingri Industry, is a leader in the global intelligent cloud video terminal and ultra-high-definition camera segment [5][6] - The company is actively expanding its product offerings, including "AI + cloud + hardware" solutions, and is collaborating with major clients to enhance its market competitiveness [5][6] Financial Performance Summary - **Revenue Forecast**: The company is expected to achieve revenues of 4.53 billion yuan in 2024, with projected growth to 5.04 billion yuan in 2025, 5.97 billion yuan in 2026, and 6.90 billion yuan in 2027, reflecting growth rates of -0.37%, 11.28%, 18.50%, and 15.50% respectively [2][7] - **Net Profit Forecast**: The net profit attributable to the parent company is forecasted to be 0.29 billion yuan in 2024, increasing to 0.33 billion yuan in 2025, 0.41 billion yuan in 2026, and 0.47 billion yuan in 2027, with growth rates of 105.88%, 11.86%, 24.56%, and 13.74% respectively [2][7] - **Earnings Per Share (EPS)**: The diluted EPS is projected to be 0.15 yuan in 2024, rising to 0.17 yuan in 2025, 0.21 yuan in 2026, and 0.24 yuan in 2027 [2][8] Key Financial Ratios - **Gross Margin**: Expected to improve from 35.19% in 2024 to 38.00% in 2027 [7] - **Price-to-Earnings (P/E) Ratio**: Projected to decrease from 117.29 in 2024 to 74.01 in 2027, indicating an improving valuation [7] - **Return on Equity (ROE)**: Expected to increase from 2.50% in 2024 to 3.60% in 2027 [7]

Group 1 - Shareholders of Alade (301419.SZ) plan to reduce their holdings by no more than 1.50% within three months after 15 trading days through centralized bidding and/or block trading [1] - Shareholders of Dawi Technology (600589.SH) intend to reduce their holdings by no more than 3% within three months after 15 trading days through centralized bidding and block trading [1] - Employees of Dingzhi Technology (873593.BJ) have completed a reduction of 0.6431% of their holdings through centralized bidding [1] Group 2 - Shareholders of Aerospace Software (688562.SH) plan to reduce their holdings by no more than 1.00% through centralized bidding [2] - Shareholders of Hongqiang Co., Ltd. (002809.SZ) have completed their reduction plans, with reductions of 1%, 0.132%, and 0.021% respectively [2] - Shareholders of Huachangda (300278.SZ) plan to reduce their holdings by no more than 0.703% within three months after 15 trading days through centralized bidding [2] Group 3 - Shareholders of Liancheng CNC (835368.BJ) plan to reduce their holdings by no more than 2% within three months after 15 trading days through centralized bidding and block trading [3] - Shareholders of Meidixi (688202.SH) intend to reduce their holdings by no more than 2.23% within three months after 15 trading days through centralized bidding or block trading [3] - Shareholders of Meixin Technology (301577.SZ) plan to reduce their holdings by no more than 2.5% through centralized bidding and block trading [3] Group 4 - Shareholders of Wanda Film (002739.SZ) have completed their reduction plan, with a total reduction of 63,353,361 shares, accounting for 3.00% of the total share capital [4] - Shareholders of Xinghua New Materials (301077.SZ) plan to reduce their holdings by no more than 3% within three months after three trading days through centralized bidding and block trading [4] - Shareholders of Yinbao Shanneng (002786.SZ) have completed their reduction plan, with a total reduction of 9,912,100 shares, accounting for 2.00% of the total share capital [4] Group 5 - Shareholders of Intercontinental Oil and Gas (600759.SH) have completed their reduction plan, with a total reduction of 124,499,600 shares, accounting for 3% of the total share capital [5]

股票简称：会畅通讯 股票代码：300578 公告编号：2025-020 上海会畅通讯股份有限公司 关于股东股份减持计划的预披露公告 本公司股东黄元元女士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。 特别提示： 公司股东黄元元女士计划在本公告披露之日起 15 个交易日后 3 个月内（即 2025 年 5 月 26 日至 2025 年 8 月 25 日）拟以集中竞价和大宗交易方式合计减持 公司股份不超过 2,725,091 股，占公司目前总股本 1.37%。 上海会畅通讯股份有限公司（以下简称"公司"或"会畅通讯"）于近日收到股 东黄元元女士出具的《股份减持计划告知函》，现将具体情况公告如下： 一、股东基本情况 | 股东名称 | 持股数量（股） | 占公司目前总股本比例 | | | --- | --- | --- | --- | | 黄元元 | 2,725,091 | | 1.37% | 二、本次减持计划的主要内容 （一）本次拟减持股份的数量、来源、原因、方式、减持时间区间、价格 区间等相关信息 1、减持人：黄元元 2、减持原因：资金需求 3、股份来源：首次公开发行股份 4、减持股份 ...

Company Overview - Company achieved operating revenue of 453 million yuan in 2024, a year-on-year decline of 0.37% [1] - Net profit attributable to shareholders was 29.48 million yuan, marking a return to profitability [1] - Main business focuses on intelligent cloud video, including software and hardware terminal products [1] Technology and Innovation - Company relies on proprietary algorithms and domestic intelligent manufacturing, with a strong emphasis on R&D and investment [1] - Technologies include intelligent image and audio technology, 3D graphics engine, 3D intelligent rendering, image and acoustic algorithms, and a globally distributed flexible audio-video network [1] Market and Industry Insights - The global cloud video conferencing market is projected to reach approximately 6.44 billion USD in 2024, with strong demand from developed countries [2] - By 2030, the global video conferencing market is expected to grow to 19.73 billion USD, with a compound annual growth rate of 12.5% from 2022 to 2030 [2] Future Plans - For 2025, the company plans to focus on intelligent cloud video communication, enhancing the "AI + cloud + hardware" integration [2] - The company aims to improve operational efficiency, expand product lines, and enhance differentiation in key product series [2] - There is a commitment to accelerate market expansion in both major and emerging markets, leveraging new technologies such as AI and 3D [2] Recent Financial Performance - In Q1 2025, the company reported operating revenue of 112 million yuan, a year-on-year increase of 12.28% [3] - Net profit attributable to shareholders was 6.59 million yuan, a decline of 58.36% compared to the previous year due to the absence of prior gains from subsidiary transfers [3] - The company achieved a non-GAAP net profit of 2.83 million yuan, indicating a return to profitability [3]

兴业证券股份有限公司 关于上海会畅通讯股份有限公司 兴业证券股份有限公司（以下简称"兴业证券"或"保荐机构"）作为上海会 畅通讯股份有限公司（以下简称"会畅通讯"或"公司"）2020 年向特定对象 发行股票并在创业板上市的保荐机构，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》《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》等相关文件的要求，对会畅通讯使用暂时闲置募集资金进行现金管理事项 进行了核查，核查情况如下： 一、募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）于 2021 年 5 月 21 日出具的《关于同意上海会畅通讯股份有限公司向特定对象发行股票注册的批复》 （证监许可[2021]1786 号）核准，上海会畅通讯股份有限公司（以下简称"公司"） 向 特 定对 象发 行 人民 币 普通 股 26,452,645 股 ， 募集 资金 总额 为 人民 币 599,945,988.60 元，扣除各项发行费用人民币 9,267,811.45 元后，募集资金净额 为人民币 590,678,177 ...

上海会畅通讯股份有限公司 2024 年度 财务报表及审计报告 目 录 | 内容 | 页码 | | --- | --- | | 审计报告 | 1-5 | | 合并资产负债表 | 6-7 | | 公司资产负债表 | 8-9 | | 合并利润表 | 10 | | 公司利润表 | 11 | | 合并现金流量表 | 12 | | 公司现金流量表 | 13 | | 合并所有者权益变动表 | 14-15 | | 公司所有者权益变动表 | 16-17 | | 财务报表附注 | 18-116 | 审 计 报 告 众会字（2025）第 03705 号 上海会畅通讯股份有限公司全体股东： 一、 审计意见 我们审计了上海会畅通讯股份有限公司（以下简称"会畅通讯"）财务报表，包括 2024 年 12 月 31 日的合并及公司资产负债表，2024 年度的合并及公司利润表、合并及公司现金 流量表、合并及公司所有者权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制，公允反映了 会畅通讯 2024 年 12 月 31 日的合并及公司财务状况以及 2024 年度的合并及公司经营成果和 现金流量。 ...

上海会畅通讯股份有限公司 2024年度独立董事述职报告 （许慧明） （一）独立董事工作履历、专业背景及兼职情况 本人许慧明，中国国籍，无境外永久居留权，1967 年 10 月出生，硕士研究 生，律师执业资格，毕业于赣南师范学院汉语言文学和云南大学宪法与行政法学。 曾任江西省会昌县第一中学教师，云南财贸大学法学系教师，扬州市公职律师办 公室律师；现任江苏石立律师事务所执业律师。2023 年 11 月 2 日至今任公司独 立董事。 （二）独立性说明 本人未在公司担任除独立董事以外的任何职务，也未在公司主要股东公司担 任任何职务，与公司以及主要股东之间不存在妨碍本人进行独立客观判断的关系， 不存在影响独立董事独立性的情况，符合《上市公司独立董事管理办法》《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、规范性文件及《公司章程》《独立董事工作制度》中关于独立董事独 立性的相关要求。 1/6 二、独立董事年度履职概况 报告期内，本人积极参加了公司召开的所有董事会、股东大会，本着勤勉尽 责的态度，认真审阅了会议议案及相关材料，主动参与各议案的讨论并提出合理 建议，为董事会的正确、 ...