Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company reported a significant revenue growth of 109.7% year-on-year for the first three quarters of 2024, reaching 2.535 billion yuan, with Q3 revenue at 1.007 billion yuan, up 125.5% year-on-year, driven by accelerated orders from major clients for SOC testing machines and increased production of storage testing machines [2][3] - The net profit attributable to the parent company for the first three quarters of 2024 was 357 million yuan, a staggering increase of 26,859% year-on-year, with a net profit margin of 14.91%, reflecting a substantial improvement in profitability due to economies of scale [2][3] - The semiconductor industry is expected to recover, benefiting traditional product demand, with significant growth anticipated in SOC and storage testing machines, which are expected to contribute to the company's performance in 2024 and beyond [3] Summary by Sections Revenue Performance - The company achieved a revenue of 2.535 billion yuan in the first three quarters of 2024, with Q3 revenue at 1.007 billion yuan, marking a year-on-year increase of 125.5% [2] - Inventory as of Q3 2024 stood at 2.371 billion yuan, up 20.33% year-on-year, indicating strong order backlog and proactive raw material procurement [2] Profitability - The net profit for Q3 2024 was 143 million yuan, an increase of 844% year-on-year, with a gross margin of 57.73%, reflecting strong operational efficiency [3] - The company’s net profit margin and non-recurring net profit margin for the first three quarters of 2024 were 14.91% and 13.59%, respectively, both showing significant year-on-year improvements [2] Future Outlook - The company maintains revenue forecasts of 3.471 billion yuan, 4.680 billion yuan, and 5.977 billion yuan for 2024, 2025, and 2026, respectively, with expected year-on-year growth rates of 96%, 35%, and 28% [4] - The net profit forecasts for the same periods are adjusted to 529 million yuan, 858 million yuan, and 1.223 billion yuan, reflecting a strong growth trajectory despite slight downward adjustments due to share-based payment expenses [4]

华泰联合证券有限责任公司 关于杭州长川科技股份有限公司 二、公司前次使用部分闲置募集资金临时补充流动资金及其归还情况 公司于 2023 年 10 月 25 日发布了《关于使用部分闲置募集资金临时补充流 动资金的公告》（公告编号：2023-059）。该事项经第三届董事会第二十次会议、 第三届监事会第十七次会议审议通过，同意公司使用暂时闲置的不超过 15,000 万元募集资金临时性补充日常经营所需的流动资金，期限自董事会审议通过次日 1 起不超过 12 个月。根据上述决议，2023 年 10 月 25 日，募集资金账户转账 15,000 万元至一般户。截至 2024 年 10 月 22 日，公司已将上述用于临时补充流动资金 的募集资金全部归还至募集资金专用账户。 使用部分闲置募集资金临时补充流动资金的核查意见 华泰联合证券有限责任公司（以下简称"华泰联合证券""保荐机构"）作为杭 州长川科技股份有限公司（以下简称"长川科技""公司""上市公司"或"发行人"） 2021 年度向特定对象发行股票的保荐机构，根据《证券发行上市保荐业务管理 办法》《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》 《 ...

证券代码：300604 证券简称：长川科技 公告编号：2024-062 杭州长川科技股份有限公司 第四届监事会第四次会议决议的公告 本公司监事会及全体监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、监事会会议召开情况 杭州长川科技股份有限公司第四届监事会第四次会议于 2024 年 10 月 23 日 在公司会议室召开。会议由监事会主席贾淑华女士主持，会议采取通讯方式进行 表决。会议应参加表决监事 3 人，实际参加表决监事 3 人。会议的召集和召开符 合《公司法》和《公司章程》的有关规定。 二、监事会会议审议情况 经与会监事审议并表决，通过了如下议案： 1、审议通过《关于使用2021年向特定对象发行股票部分闲置募集资金临时 补充流动资金的议案》 一、募集资金基本情况 经中国证券监督管理委员会《关于同意杭州长川科技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〕516 号）批复，长川科技向特定对象 发行人民币普通股（A 股）8,126,775 股，发行价格 45.75 元/股，募集资金总额 为 371,799,956.25 元，扣除相关发行费用后，募集资 ...

杭州长川科技股份有限公司 第四届董事会第四次会议决议的公告 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第四届董事会第四次会议于 2024 年 10 月 23 日 在公司会议室召开。会议通知已于 2024 年 10 月 16 日以电邮、传真等形式向全 体董事发出。会议采取通讯方式进行表决。本次会议应参加表决董事 9 人，实际 参加表决董事 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 证券代码：300604 证券简称：长川科技 公告编号：2024-061 经与会董事审议并表决，通过了如下议案： 1、审议通过《关于使用2021年向特定对象发行股票部分闲置募集资金临时 补充流动资金的议案》 一、募集资金基本情况 经中国证券监督管理委员会《关于同意杭州长川科技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〕516 号）批复，长川科技向特定对象 发行人民 ...

华泰联合证券有限责任公司（以下简称"华泰联合证券"或"独立财务顾问"） 作为杭州长川科技股份有限公司（以下简称"长川科技"或"公司"）发行股份 购买资产并募集配套资金事项的独立财务顾问，根据《上市公司重大资产重组管 理办法》《上市公司并购重组财务顾问业务管理办法》《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》《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》等法律法规的规定，对长川科技拟使用部分闲置募集资金临时补充流动 资金的事项进行了审慎核查，具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意杭州长川科技股份有限公司向杭州天 堂硅谷杭实股权投资合伙企业（有限合伙）等发行股份购买资产并募集配套资金 注册的批复》（证监许可〔2022〕3235 号），长川科技向特定对象发行股票 8,415,450 股，发行价为每股人民币 32.88 元，共计募集资金 276,699,996.00 元，扣除相关 发行费用后，募集资金净额为人民币 266,449,725.65 元。上述募集资金已由主承 销商华泰联合证券汇入 ...

065 证券代码：300604 证券简称：长川科技 公告编号：2024- 杭州长川科技股份有限公司 关于归还募集资金及继续使用部分闲置募集资金 临时补充流动资金的公告 3、使用期限：最长不超过 12 个月 公司于 2024 年 10 月 23 日召开第四届董事会第四次会议、第四届监事会第 四次会议，分别审议通过了《关于使用 2021 年向特定对象发行股票部分闲置募 集资金临时补充流动资金的议案》，同意公司使用不超过 3,800.00 万元募集资金 临时补充流动资金，仅用于主营业务相关的生产经营，使用期限不超过 12 个月。 具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意杭州长川科技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〕516 号）批复，长川科技向特定对象 发行人民币普通股（A 股）8,126,775 股，发行价格 45.75 元/股，募集资金总额为 371,799,956.25 元，扣除相关发行费用后，募集资金净额为人民币 362,458,380.84 元。上述募集资金已于 2021 年 8 月 2 日全部到账，天健会计师事务所（特殊普 1 通合伙）对前述 ...

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、本次使用闲置募集资金临时补充流动资金的金额：7,400.00 万元 证券代码：300604 证券简称：长川科技 公告编号：2024-066 杭州长川科技股份有限公司 关于使用部分闲置募集资金临时补充流动资金的公告 2、使用期限：最长不超过 12 个月 公司于 2024 年 10 月 23 日召开第四届董事会第四次会议、第四届监事会第 四次会议，分别审议通过了《关于使用 2023 年向特定对象发行股票募集配套资 金部分闲置募集资金临时补充流动资金的议案》，同意公司使用不超过 7,400.00 万元募集资金临时补充流动资金，仅用于主营业务相关的生产经营，使用期限不 超过 12 个月。具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意杭州长川科技股份有限公司向杭州天 堂硅谷杭实股权投资合伙企业（有限合伙）等发行股份购买资产并募集配套资金 注册的批复》（证监许可〔2022〕3235 号），长川科技向特定对象发行股票 8,415,450 股，发行价为每股人民币 32.88 元，共计募集资金 ...

Financial Performance - The company's revenue for Q3 2024 reached ¥1,007,285,352.43, representing a 125.51% increase year-over-year[3] - Net profit attributable to shareholders was ¥142,518,386.56, a significant increase of 844.11% compared to the same period last year[3] - The net profit after deducting non-recurring gains and losses was ¥136,043,079.12, up 714.41% year-over-year[3] - Total operating revenue for Q3 2024 reached ¥2,535,398,795.77, a significant increase of 109.4% compared to ¥1,208,964,687.49 in the same period last year[15] - Net profit for Q3 2024 was ¥377,966,800.35, compared to a net profit of ¥12,513,277.35 in Q3 2023, marking a substantial increase[16] - Basic earnings per share for Q3 2024 were CNY 0.5728, up from CNY 0.0022 year-over-year[17] - The company’s total comprehensive income attributable to shareholders was CNY 401,380,524.07, compared to CNY 824,037.05 in the previous year[17] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥6,898,467,997.54, reflecting a 16.89% increase from the end of the previous year[3] - Total assets increased to ¥6,898,467,997.54, up from ¥5,901,584,373.42, reflecting a growth of 16.9%[14] - Total liabilities rose to ¥2,988,690,976.83, compared to ¥2,431,274,572.89, indicating an increase of 22.9%[14] - The company's equity attributable to shareholders reached ¥3,296,678,659.19, up from ¥2,878,612,814.00, a growth of 14.5%[14] Cash Flow - Cash flow from operating activities for the year-to-date was ¥423,985,168.81, showing a 159.40% increase compared to the previous year[3] - Net cash flow from operating activities was CNY 423,985,168.81, a turnaround from a negative cash flow of CNY -713,721,764.88 in the previous year[19] - Cash inflow from sales of goods and services was CNY 2,380,780,409.43, compared to CNY 1,426,568,320.58 in the prior year[18] - The company reported a net cash outflow from investing activities of CNY -181,491,730.58, compared to a net inflow of CNY 166,877,108.28 in the same period last year[19] - Cash inflow from financing activities totaled CNY 970,410,823.17, down from CNY 1,020,764,987.08 in the previous year[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 43,246[8] - The largest shareholder, Zhao Yi, holds 22.59% of the shares, totaling 141,562,196 shares, with 106,171,647 shares pledged[8] - The top ten shareholders include institutional investors such as the National Integrated Circuit Industry Investment Fund, holding 3.90% of the shares[8] - The company has a total of 15,705,482 restricted shares, with 6,871,118 shares released during the period[11] - The company plans to transfer 31,161,565 shares to Hangzhou Chonghu Private Fund Management Co., which will not change the actual control of the company[9] - The company is actively managing its shareholder structure, with ongoing compliance with relevant regulations regarding share transfers[9] Operational Efficiency - The company reported a significant increase in accounts receivable, which rose by 33.60% to ¥1,363,919,927.71 due to increased revenue[6] - The company’s gross profit margin improved, with operating costs rising by 116.86% to ¥1,114,136,798.42, reflecting the growth in sales volume[6] - Research and development expenses amounted to ¥672,577,577.66, representing a 27.9% increase from ¥525,602,527.97 in the previous year[15] - The company reported a significant increase in user data, with active users growing by 25% year-on-year, indicating strong market demand[16] - The company plans to expand its market presence through new product launches and strategic partnerships in the upcoming quarters[16] Inventory and Prepayments - Inventory as of September 30, 2024, is ¥2,371,220,672.33, up from ¥2,159,204,011.77[12] - The company reported a significant increase in prepayments, rising to ¥17,942,576.33 from ¥7,710,114.65[12]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase of over 15% compared to the CSI 300 index in the next six months [5][6]. Core Insights - The company reported impressive performance in H1 2024, achieving revenue of 1.528 billion yuan, a year-on-year increase of 100.46%, and a net profit attributable to shareholders of 215 million yuan, up 949.29% year-on-year [1]. - The growth was primarily driven by the testing machine business, which saw sales revenue of 931 million yuan, a remarkable increase of 270.31% year-on-year [1]. - The company is expanding its product coverage in the integrated circuit testing field, benefiting from increased national focus on the semiconductor industry and enhanced R&D investments [1]. - The company has significantly increased its R&D expenditure, reaching 426.49 million yuan in H1 2024, accounting for 27.91% of its revenue [1]. - The company aims to strengthen its market position by focusing on high-end testing machines and related equipment, enhancing its core competitiveness [1]. Financial Summary - The company is projected to achieve revenues of 3.258 billion yuan in 2024, 4.302 billion yuan in 2025, and 5.019 billion yuan in 2026, with corresponding net profits of 531 million yuan, 798 million yuan, and 996 million yuan respectively [3]. - The revenue growth rate is expected to be 83.54% in 2024, followed by 32.04% in 2025 and 16.67% in 2026 [3]. - The company’s net profit growth rate is forecasted to be 1,076.82% in 2024, 50.17% in 2025, and 24.76% in 2026 [3].

关于召开 2024 年第三次临时股东大会通知的公告 1. 股东大会届次：2024 年第三次临时股东大会。 4. 会议召开的日期、时间： （1）现场会议时间：2024 年 10 月 28 日（星期一）下午 14:00； 证券代码：300604 证券简称：长川科技 公告编号：2024-060 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。 2. 股东大会的召集人：杭州长川科技股份有限公司（以下简称"公司"）董 事会。公司第四届董事会第三次会议决定于 2024 年 10 月 28 日召开 2024 年第三 次临时股东大会。 杭州长川科技股份有限公司 一、召开会议的基本情况 3. 会议召开的合法、合规性：本次股东大会召集程序符合《公司法》深圳 证券交易所创业板股票上市规则》等有关法律、行政法规、部门规章、规范性文 件及《公司章程》的规定。 （2）公司董事、监事和高级管理人员； （3）同一股份只能选择现场投票或网络投票中的一种表决方式。同一表决 权出现重复表决的以第一次投票表决结果为准。 （3）公司聘请的律师； （4）根据相关法规应当出席股东大会的其他人员。 8. 现场会议召 ...