本次续聘会计师事务所事项尚需提交公司股东大会审议，并自公司股东大会 审议通过之日起生效。现将有关事项公告如下： 本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、 拟续聘会计师事务所事项的情况说明 立信具有从事证券、期货相关业务资格，具备为上市公司提供审计服务的经 验与能力，在为公司提供 2023 年度审计服务的工作中，能够遵循独立、客观、 公正的职业准则，恪尽职守，为公司提供了高质量的审计服务，其出具的报告能 够客观、真实地反映公司的实际情况、财务状况和经营成果，切实履行了审计机 构职责，从专业角度维护了公司及股东的合法权益。 为保持审计业务的连续性，综合考虑审计质量和服务水平，同时基于双方良 好的合作，公司董事会拟继续聘请立信为公司 2024 年度审计机构，聘期为一年。 二、拟续聘会计师事务所的基本情况 证券代码：300602 证券简称：飞荣达 公告编号：2024-046 深圳市飞荣达科技股份有限公司 深圳市飞荣达科技股份有限公司（以下简称"公司"）于 2024 年 8 月 16 日召 开第五届董事会第二十二次会议和第五届监事会第二十一次会议分别审议通过 ...

证券代码：300602 证券简称：飞荣达 公告编号：2024-037 深圳市飞荣达科技股份有限公司 关于提前归还部分暂时补充流动资金的闲置募集资金的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 深圳市飞荣达科技股份有限公司（以下简称"公司"）于 2023 年 8 月 16 日召开 第五届董事会第十七次会议和第五届监事会第十七次会议，分别审议通过了《关于 使用部分闲置募集资金暂时补充流动资金的议案》，并同意公司使用闲置募集资金不 超过 50,000 万元暂时补充公司日常经营所需的流动资金，使用期限自董事会批准 之日起不超 12 个月，到期或募集资金投资项目需要时及时归还至募集资金专户。具 体内容详见公司于 2023 年 8 月 18 日在巨潮资讯网披露的《关于使用部分闲置募集 资金暂时补充流动资金的公告》（公告编号：2023-065）。 2024 年 8 月 2 日 公司已于 2024 年 8 月 2 日将上述用于暂时补充流动资金的部分闲置募集资金 人民币 40,000 万元提前全部归还至公司募集资金专用账户，使用期限未超过 12 个 月。同时，公司将上述 ...

Investment Rating - The report maintains a "Buy" rating for the company [33] Core Views - The company is a leading player in the fields of cooling and electromagnetic shielding in China, with an expected increase in market share and product value driven by the recovery in downstream AI servers, switches, and AI terminals [8][22] - The company's revenue forecast for 2024-2026 has been adjusted to approximately 55.68 billion, 72.18 billion, and 87.47 billion yuan respectively, with net profits projected at 3.14 billion, 4.90 billion, and 6.55 billion yuan [8][14] - The expected earnings per share (EPS) for 2024-2026 are 0.54, 0.85, and 1.13 yuan per share, with corresponding price-to-earnings (PE) ratios of 26.26, 16.84, and 12.61 [8][14] Summary by Sections Recent Performance - For the first half of 2024, the company anticipates revenue of approximately 2.17 billion yuan, representing a year-on-year growth of about 22.05%, and a net profit of 54 million to 64 million yuan, reflecting a significant increase of approximately 1243.65% to 1492.48% [6][8] - The company expects continued high growth in net profit for Q2 2024, indicating an improvement in profitability [6] Market Position - The company has seen a decline in non-core business contributions, with investment losses from its associate company amounting to approximately 17 million yuan [6] - The company’s market share in the communication sector is increasing, with a significant release of production capacity and a notable improvement in gross margins [6][8] Financial Projections - The company’s revenue is projected to grow at rates of 28%, 30%, and 21% for 2024, 2025, and 2026 respectively, with net profit growth rates of 205%, 56%, and 34% for the same years [14][15] - The report highlights a projected return on equity (ROE) of 8%, 11%, and 13% for the years 2024 to 2026 [15]

以报告发布日后公司股价/行业指数涨跌幅相对同期相关市场指数的涨跌幅的表现为基准： 公司投资评级： 买 入：预计该公司股价在未来 6-12 个月内超越基准指数 20%以上； 中 性：预计该公司股价在未来 6-12 个月内相对基准指数变动幅度在-10%-10%之间； 减 持：预计该公司股价在未来 6-12 个月内相对基准指数跌幅在 10%以上； 未有评级：因无法获取必要的资料或者其他原因，未能给出明确的投资评级。 行业投资评级： 强于大市：预计该行业指数在未来 6-12 个月内表现强于基准指数； 中 性：预计该行业指数在未来 6-12 个月内表现基本与基准指数持平； 弱于大市：预计该行业指数在未来 6-12 个月内表现弱于基准指数； 未有评级：因无法获取必要的资料或者其他原因，未能给出明确的投资评级。 2024 年 7 月 17 日 飞荣达 3 风险提示及免责声明 本报告由中银国际证券股份有限公司证券分析师撰写并向特定客户发布。 本报告发布的特定客户包括：1) 基金、保险、QFII、QDII 等能够充分理解证券研究报告， 具备专业信息处理能力的中银国际证券股份有限公司的机构客户；2) 中银国际证券股份有 限公司的 ...

Financial Performance - The company expects a net profit attributable to shareholders of approximately 54 million to 64 million yuan for the first half of 2024, representing a year-on-year increase of approximately 1243.65% to 1492.48%[3] - The estimated operating revenue for the first half of 2024 is about 2.17 billion yuan, an increase of approximately 22.05% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses is expected to be between 47 million and 57 million yuan, reflecting a year-on-year growth of approximately 540.78% to 634.56%[3] - The company expects non-recurring gains and losses to impact net profit by approximately 7 million yuan, primarily from government subsidies[7] - The company anticipates an increase in income tax expenses of approximately 18 million yuan compared to the previous year due to overall revenue growth[7] - The financial data presented is preliminary and has not been audited, with detailed financial information to be disclosed in the 2024 semi-annual report[8] Business Growth - The company's consumer electronics business has seen significant revenue growth due to increased order volumes and market share in mobile phones and laptops[5] - The company is actively developing its new energy vehicle business, with a continuous increase in order volume, although profit margins in this sector have been impacted by rising raw material costs[6] - The company has increased its market share in the communication sector, leading to a significant improvement in profit margins and overall profitability[6] Investment Loss - The company has recognized an investment loss of approximately 17 million yuan from its equity investment in Guangdong Bowei Communication Technology Co., Ltd., an increase from a loss of 241,000 yuan in the same period last year[6]

二、进展情况 一、基本情况 深圳市飞荣达科技股份有限公司（以下简称"公司"或"飞荣达"）于 2022 年 12 月 12 日、2022 年 12 月 28 日分别召开第五届董事会第十二次（临时）会 议、2022 年第二次临时股东大会，审议通过了《关于出售控股子公司广东博纬通 信科技有限公司部分股权的议案》，同意公司以 2,888.20 万元交易价格出售广东 博纬通信科技有限公司 28.8820%股权（以下简称"出售广东博纬 28.8820%股权 事宜"）。前述股权转让事项完成后，飞荣达持有广东博纬通信科技有限公司（以 下简称"广东博纬"）45%股权，广东博纬不再纳入飞荣达合并报表范围。 公司与吴壁群先生（以下简称"交易对方"）、广东博纬相应签署了《深圳 市飞荣达科技股份有限公司与吴壁群关于广东博纬通信科技有限公司之股权转 让协议》（以下简称"《股权转让协议》"）对上述出售广东博纬 28.8820%股权事 宜作出安排并约定，在交易对方未违反协议约定的情况下，广东博纬将以 2023 年 10 月 31 日为基准日委托经飞荣达、交易对方共同认可的评估机构对广东博纬 进行评估，交易对方于 2024 年 6 月 30 ...

好的各位投资朋友大家下午好这是一个国外计算机游戏感谢大家参加公导的投资观点更新首先公导是我们在过去从2023年的十月份以来一直在经营出现的经济的标志 核心也是围绕整个华为的散热、变冷的产业链以及围绕整个国内的变冷的产业链我们做了相关的布局这里面的话芬达的核心结论是很简单讲一下芬达是国内的风冷、变冷、电磁屏蔽材料的主要供应商有望授予深层等国内的AI服务器微软、华为等AI2C和AI手机的终端的规模化方面 带来公司的产品需求的量跟价的这么一个增长公司的业绩增长未来有望超如期这是核心结论那第二个的话我们展开讲一下首先再更新一下公司的一个基本的业务公司呢是1993年成立的业务呢主要由这个变质的主要产品逐步的开始发展为这个变质品质材料导热散热材料和基站天线等相关产品的研发生产和销售 目前已经成为了电磁屏蔽导热应用等解决方案领域的国内的领先企业客户的下游主要包括PC、手机、服务器、通信、新能源等领域公司的产品可以把它理解为两个方面分别是散热和电磁屏蔽散热产品的话主要包括VC、热管、风扇散热模组、石墨片导热界面材料、热冷模组等等 电磁屏蔽的产品主要包括锡波片纳米精导电橡胶导电布等相关的那我们公司的业务按照下游去拆分的话我们可 ...

好的各位投资朋友大家下午好这是一个国外计算机游戏感谢大家参加公导的投资观点更新首先公导是我们在过去从2023年的十月份以来一直在经营出现的经济的标志 核心也是围绕整个华为的散热、变冷的产业链以及围绕整个国内的变冷的产业链我们做了相关的布局这里面的话芬达的核心结论是很简单讲一下芬达是国内的风冷、变冷、电磁屏蔽材料的主要供应商有望授予深层等国内的AI服务器微软、华为等AI2C和AI手机的终端的规模化方面 带来公司的产品需求的量跟价的这么一个增长公司的业绩增长未来有望超如期这是核心结论那第二个的话我们展开讲一下首先再更新一下公司的一个基本的业务公司呢是1993年成立的业务呢主要由这个变质的主要产品逐步的开始发展为这个变质品质材料导热散热材料和基站天线等相关产品的研发生产和销售 目前已经成为了电磁屏蔽导热应用等解决方案领域的国内的领先企业客户的下游主要包括PC、手机、服务器、通信、新能源等领域公司的产品可以把它理解为两个方面分别是散热和电磁屏蔽散热产品的话主要包括VC、热管、风扇散热模组、石墨片导热界面材料、热冷模组等等 电磁屏蔽的产品主要包括锡波片纳米精导电橡胶导电布等相关的那我们公司的业务按照下游去拆分的话我们可 ...

Company Overview and Performance - The company's products are widely used in network communications, data centers (servers), consumer electronics, new energy vehicles, artificial intelligence, photovoltaic energy storage, medical and home appliances [39] - The company's revenue composition by application area: consumer electronics 38%, communications 27%, new energy (new energy vehicles, photovoltaic and energy storage) 35% [1] - In 2023, the company's operating income was 4.346 billion yuan, a year-on-year increase of 5.37%, and net profit attributable to the parent company was 103 million yuan [17] - In Q1 2024, the company achieved high growth with operating income of 982 million yuan, a year-on-year increase of 27.05%, net profit attributable to the parent company of 24 million yuan, a year-on-year increase of 194.07%, and non-GAAP net profit of 20 million yuan, a year-on-year increase of 159.03% [18] Key Business Segments and Concepts - The company provides products related to new energy vehicle battery packs, such as battery end plates, battery covers, flexible connections, liquid cooling plates, fluororubber, and thermal conductive paste [5] - The company has products applied in drones [6] - The company has obtained supply qualifications from major customers in the photovoltaic inverter industry, including Huawei, Sungrow, and Growatt, providing products such as die-casting parts, special radiators, liquid cooling plates, thermal interface materials, and shielding materials [7] - The company has been involved in the development of AI PC products since the first generation of the Surface series and maintains a long-term cooperative relationship with Microsoft [20] - The company has products applied in VR/AR/MR, with major clients being Microsoft and Meta [21] - The company's new production capacity includes 660,000 sets of energy storage components, 660,000 sets of energy storage chassis shells, 1.32 million sets of energy storage chassis panels, 396 million sets of connecting pieces, 720,000 sets of liquid cooling plates, and 360,000 sets of battery pack covers [22] - The company has been cooperating with Huawei since 1997 and is an important supplier in areas such as mobile phones, notebooks, servers, communication equipment, new energy vehicles, and energy storage [23] Market Trends and Catalysts - The AI PC replacement wave is expected to begin, with the proportion of AI smartphone shipments potentially increasing to 54% by 2028 [9] - The Taipei International Computer Show (COMPUTEX2024) will be held from June 4 to 7, 2024, where major tech companies like NVIDIA, AMD, Qualcomm, and Intel will showcase their latest AI PC products and technologies [8] - Microsoft plans to launch Windows 11 AI PCs equipped with Copilot starting from June 18, with the first devices featuring a new AI Copilot activation button on the keyboard [9] - Apple's WWDC24 global developer conference will be held from June 10 to 14, 2024 [25] - Smartphone manufacturers such as OPPO, Honor, Xiaomi, and Samsung have showcased new AI-enabled phones and plan to release AI technologies in June to gain market share ahead of Apple [26] Institutional and Investor Activity - On May 7, 43 institutions participated in the company's research [27] - The company's gross margin has been gradually recovering, with each quarter showing a sequential increase, and is expected to further improve with increased capacity utilization [10] - In Q1 2024, a new private equity fund entered the company's top ten circulating shareholders, and two individual shareholders increased their holdings [34] - The number of shareholders has slightly decreased, while the average number of shares held per household has slightly increased [35] Financial Performance - The company's operating income and net profit have shown fluctuations over the years, with operating income increasing from 2.615 billion yuan in 2019 to 4.346 billion yuan in 2023, and net profit attributable to the parent company fluctuating from 351 million yuan in 2019 to 103 million yuan in 2023 [4] - In Q1 2024, the company's operating income was 982 million yuan, a year-on-year increase of 27.05%, and net profit attributable to the parent company was 24 million yuan, a year-on-year increase of 194.07% [18]

[Table_MainInfo] 公司研究/信息设备/电子元器件 证券研究报告 飞荣达（300602）公司年报点评 2024 年 05 月 29 日 2023/5 2023/8 2023/11 2024/2 Tel:(010)50949926 05[Table_StockInfo 月 29 日收盘价（元）] 16.29 52 周股价波动（元） 9.05-21.39 总股本/流通 A 股（百万股） 580/392 总市值/流通市值（百万元） 9448/6382 相关研究 [Table_ReportInfo] 《毛利率大幅改善，盈利拐点初现》2023.10.14 市场表现 [Table_QuoteInfo] 事件：飞荣达发布 2023 年年报及 2024 年一季报：23 年公司实现营收 43.46 亿元（同比+5.37%），归母净利润 1.03 亿元（同比+7.31%），扣非归母净利 润 8172 万元（同比+985.24%），毛利率 19.47%（同比+2.15pct），净利率 2.37% （同比+0.04pct），经营净现金流为 5.91 亿元（同比+4952.46%）；24Q1 公 司实现营收 9.82 亿 ...