证券代码：300604 证券简称：长川科技 公告编号：2025-003 杭州长川科技股份有限公司 第四届董事会第六次会议决议的公告 本公司及全体董事会成员保证信息披露内容的真实、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 杭州长川科技股份有限公司（以下简称"公司"）第四届董事会第六次会议于 2025 年 3 月 17 日在公司会议室召开。会议通知已于 2025 年 3 月 3 日以电邮、 传真等形式向全体董事发出。会议采取现场和通讯方式进行表决，会议应参加表 决董事 9 人，实际参加表决 9 人。本次会议由董事长赵轶先生召集并主持，公司 高管和监事列席了会议。本次会议的召集、召开符合《中华人民共和国公司法》、 《杭州长川科技股份有限公司章程》的有关规定。 二、董事会会议审议情况 经与会董事审议并表决，通过了如下议案： 1、审议通过《关于调整2021年限制性股票激励计划授予价格的议案》 鉴于公司实施了 2023 年年度权益分派，根据《上市公司股权激励管理办法》 （以下简称"《管理办法》"）、公司 2021 年限制性股票激励计划的相关规定及公 司 2021 年第二次临时股东大会的授 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [1][6]. Core Views - The company is expected to achieve a significant increase in net profit for 2024, with estimates ranging from 400 to 500 million yuan, representing a year-on-year growth of 785.75% to 1007.18% [3]. - The semiconductor market is gradually recovering from the downturn in 2023, which is anticipated to drive revenue growth for the company in 2024 [3]. - The company has successfully expanded its product offerings, particularly in high-end testing equipment, which is expected to contribute to revenue growth in the coming years [5]. Summary by Sections Event Overview - On January 21, the company announced its earnings forecast for 2024 [2]. Profit Growth - The company forecasts a net profit of 400 to 500 million yuan for 2024, with a central estimate of 450 million yuan, indicating a substantial recovery from previous losses [4]. - The gross margin is expected to remain high at around 57.73% in Q3 2024, driven by product mix optimization [4]. Industry Recovery - The demand for traditional packaging and testing equipment is rebounding, supported by AI-related needs, indicating a positive outlook for the industry [5]. - The company is positioned as a leader in domestic back-end testing equipment, with significant growth expected in SOC and memory testing machines [5]. Financial Forecast - Revenue projections for 2024 to 2026 are set at 34.71 billion, 46.80 billion, and 59.77 billion yuan, respectively, with year-on-year growth rates of 96%, 35%, and 28% [6]. - The estimated earnings per share (EPS) for 2024 to 2026 are 0.72, 1.37, and 1.95 yuan, respectively [6].

Core Viewpoint - Changchuan Technology (300604) expects a significant increase in net profit for 2024, projecting a range of 400 million to 500 million yuan, representing a year-on-year growth of 785.75% to 1007.18% [1] Group 1: Market Conditions - The global semiconductor market is gradually recovering from the downturn experienced in 2023, showing signs of moderate recovery [1] - There is a notable increase in customer demand across various segments [1] Group 2: Company Performance - The company has made substantial investments in R&D projects, leading to a diversified product line [1] - The deepening of the large customer strategy and continuous development of small customers have positively impacted the company's market image, brand value, and core competitiveness [1] - The company's products in the integrated circuit testing field have expanded in coverage, resulting in a steady increase in market share [1] - The overall operating revenue for the year is expected to show significant growth compared to the previous year [1]

Financial Projections - The estimated net profit for 2024 is projected to be between RMB 400 million and RMB 500 million, representing a year-on-year growth of 785.75% to 1007.18% compared to RMB 45.16 million in the previous year[2] - The estimated net profit attributable to shareholders, excluding non-recurring gains and losses, is expected to be between RMB 359 million and RMB 459 million, indicating a growth of 568.93% to 699.55% from a loss of RMB 76.56 million in the previous year[2] - Non-recurring gains and losses for the reporting period are estimated at approximately RMB 41 million, primarily due to government subsidies received[4] Market and Industry Trends - The global semiconductor market is gradually recovering from the downturn in 2023, leading to a significant increase in customer demand in specific segments[4] Company Strategy and Operations - The company has enhanced its market image, brand value, and core competitiveness through substantial investments in R&D and the expansion of its product line[4] - The company continues to accelerate its technological innovation and focuses on high-end equipment R&D, promoting product deployment and industrial base construction[4] - The operational management level has improved, leading to a stabilization of expense ratios and an increase in net profit attributable to shareholders[4] Compliance and Investor Relations - The company is committed to timely information disclosure in accordance with relevant laws and regulations, urging investors to make cautious decisions[5]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected investment return that will outperform the market benchmark by over 15% in the next 6-12 months [6]. Core Viewpoints - The company is a leading domestic supplier of testing equipment, focusing on enhancing China's integrated circuit testing technology and promoting the upgrade of the integrated circuit equipment industry [1]. - The company has made significant progress in developing high-end new products, expanding its product line to include probe stations, digital testers, and sorting machines, aiming to become an internationally leading integrated circuit testing equipment enterprise [1][2]. - The company has a strong customer base, with its products recognized and used by top integrated circuit manufacturers, which helps enhance its market influence and share [3]. Summary by Sections Company Overview - The company is recognized as a national high-tech enterprise and software company, dedicated to improving the testing technology level for integrated circuits [1]. - It has successfully developed high-end new products and is expanding into the mid-to-high-end market [1][2]. Product Competitiveness - The company emphasizes product quality and has established a comprehensive quality management system, achieving ISO9001:2015 certification [2]. - Its testing machines and sorting machines have reached domestic leading levels and are close to international advanced standards, with competitive pricing that enhances market competitiveness [2]. Customer Base - The company has established relationships with major integrated circuit manufacturers, including Changjiang Electronics Technology, Huada Semiconductor, and others, which solidifies its market position [3]. Financial Forecast and Valuation - The report adjusts the company's net profit forecasts for 2024 and 2025 to 507 million and 733 million respectively, with a new forecast for 2026 at 992 million [4]. - The company is currently in a performance trough but is expected to return to a growth trend as it continues to expand its high-end product offerings and experiences rapid order growth [4]. Key Financial Metrics - Projected revenue growth rates are expected to rebound significantly, with a forecasted increase of 85.09% in 2024 and 31.86% in 2025 [5]. - The company's P/E ratios are projected to decrease from 48x in 2024 to 25x in 2026, indicating potential for valuation improvement [4][5].

Investment Rating - The report assigns a "Buy" rating to the company with a current price of 38.18 CNY and a target value of 51.98 CNY [3] Core Insights - The company is experiencing rapid growth driven by both organic and external expansion in the semiconductor testing equipment sector, with a comprehensive product layout including testers, sorters, and probe stations [10][15] - The company has established a strong competitive advantage in testing machines, with significant revenue growth and high gross margins [10][26] - The semiconductor testing equipment market is expected to grow, with increasing demand for domestic alternatives to imported products [40][46] Financial Summary - Revenue is projected to grow from 17.75 billion CNY in 2023 to 35.34 billion CNY in 2024, with a significant increase in net profit from 0.45 billion CNY to 5.52 billion CNY [2][10] - The company’s EBITDA is expected to rise from 61 million CNY in 2023 to 766 million CNY in 2024, indicating strong operational performance [2] - The earnings per share (EPS) is forecasted to increase from 0.07 CNY in 2023 to 0.88 CNY in 2024 [2] Market Position and Strategy - The company has a well-established product matrix and has made strategic acquisitions to enhance its technological capabilities and market reach [10][62] - The acquisition of STI has strengthened the company's position in the AOI detection equipment market, facilitating entry into international semiconductor supply chains [62][64] - The company is actively expanding its product offerings, particularly in high-end SoC testing machines, to capture a larger share of the growing market [56][60] Product and Revenue Breakdown - The company’s main products include testing machines, sorters, and automation equipment, with testing machines accounting for a growing share of revenue [10][32] - The revenue from testing machines is expected to grow significantly, with a projected increase of 203.3% in 2024 [66] - The gross margin for testing machines is anticipated to remain stable at around 65% [66]

证券代码：300604 证券简称：长川科技 公告编号：2024-068 单位：万元 | 序号 | 项目 | 拟投入募集资金额 | | --- | --- | --- | | 1 | 探针台研发及产业化项目 | 26,026.50 | | 2 | 补充流动资金 | 10,219.34 | | | 合计 | 36,245.84 | 2024年4月23日公司召开第三届董事会第二十五次会议、第三届监事会第二十次 会议审议通过了《关于向特定对象发行股票募投项目延期、变更部分募集资金用途 及新增募投项目的议案》，拟变更部分募集资金用途及新增募投项目。2024年5月17 日公司召开2023年年度股东大会，审议通过了上述事项。变更后募投项目情况如下： | | | 单位：万元 | | --- | --- | --- | | 序号 | 项目 | 拟投入募集资金额 | | 1 | 探针台研发及产业化项目 | 21,026.50 | 1 杭州长川科技股份有限公司 关于注销部分募集资金账户的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 一、募集资金基本情况 根据中国证券监督管理委员会 ...

证券代码：300604 证券简称：长川科技 公告编号：2024-069 杭州长川科技股份有限公司 关于实际控制人部分股份解除质押及质押展期的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 一、股东股份质押基本情况 杭州长川科技股份有限公司（以下简称"公司"）近日接到实际控制人、控股 股东赵轶先生发来的函告，获悉其所持有本公司的部分股份办理了部分股份解除质 押及质押展期的手续，具体事项如下： 1、本次部分股份解除质押的基本情况 2、本次部分股份质押展期的基本情况 | 赵轶 | | 是 | 22,420,000 | 15.84% | | | | 2024/12/ | | 财通证券 | 个人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 3.58% | 否 | 否 | 20 | 2025/3/20 | 股份有限 公司 | 资金 安排 | | 股东 名称 合计 | 是否为控股股东 或第一大股东 及其一致行动人 | | 本次质押 展期数量 （ ...

证券代码：300604 证券简称：长川科技 公告编号：2024-067 杭州长川科技股份有限公司 2024 年第三次临时股东大会决议公告 本公司及董事会全体成员保证公告内容真实、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： 1、本次股东大会无增加、变更、否决提案的情况； 2、本次股东大会以现场投票和网络投票相结合的方式召开。 一、会议召开情况 杭州长川科技股份有限公司（以下简称"公司"）2024 年第三次临时股东 大会于 2024 年 10 月 28 日下午 14:00 在杭州市滨江区聚才路 410 号杭州长川科 技股份有限公司二楼会议室召开，本次会议采取现场投票与网络投票结合的表决 方式。其中： （1）现场会议召开时间：2024 年 10 月 28 日（星期一）下午 14:00； （2）网络投票时间：2024 年 10 月 28 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：2024 年 10 月 28 日（星期一）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：2024 年 10 月 28 ...

国浩律师（杭州）事务所 关 于 杭州长川科技股份有限公司 2024 年第三次临时股东大会之 法律意见书 网址/Website：http://www.grandall.com.cn 二〇二四年十月 国浩律师（杭州）事务所 长川科技 2024 年第三次临时股东大会法律意见书 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 国浩律师（杭州）事务所 关 于 杭州长川科技股份有限公司 2024 年第三次临时股东大会之 法律意见书 致：杭州长川科技股份有限公司 国浩律师（杭州）事务所（以下简称"本所"）接受杭州长川科技股份有限 公司（以下简称"公司"）委托，指派律师出席公司 2024 年第三 ...