证券代码：300620 证券简称：光库科技 公告编号：2025-060 珠海光库科技股份有限公司 关于全资子公司变更名称暨完成工商变更登记的公告 公司类型：有限责任公司（外商投资企业法人独资） 法定代表人：邓剑钦 注册资本：7,785 万元人民币 成立日期：2005 年 4 月 8 日 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、基本情况 珠海光库科技股份有限公司（以下简称"公司"）基于整体战略规划，公司全资 子公司"捷普科技（武汉）有限公司"已正式更名为"武汉光库科技有限公司"。近 日，该更名事项已完成工商变更登记手续，并已取得武汉市市场监督管理局换发的《营 业执照》。除名称变更外，其余登记事项不变。更名后的营业执照基本情况如下： 公司名称：武汉光库科技有限公司 统一社会信用代码：914201007713589677 经营范围：一般项目：电子（气）物理设备及其他电子设备制造；光学仪器制造； 光学仪器销售；光电子器件制造；光电子器件销售；光通信设备制造；光通信设备销 售；光纤制造；光纤销售；电子产品销售；电子元器件制造；其他电子器件制造；电 子元器件批 ...

Investment Rating - The report maintains a "Recommended" rating for the telecommunications industry, considering the sustained high prosperity of the sector driven by AI, 5.5G, and satellite communications [2][5]. Core Insights - The overall market performance for the week of August 11-17, 2025, saw the Shanghai Composite Index rise by 1.70%, the Shenzhen Component Index by 4.55%, and the ChiNext Index by 8.58%. The telecommunications sector, represented by the Shenwan Communications Index, increased by 7.66% during the same period [2][11]. - Within the telecommunications sector, the highest increase was observed in the communication network equipment and devices sub-sector, which rose by 12.40%. In contrast, the communication engineering and services sub-sector had the lowest increase at 1.22% [2][14]. - Notable individual stock performances included Hengbao Co., which surged by 49.23%, followed by Guangku Technology at 48.90% and Beiwai Technology at 41.12% [2][16]. Summary by Sections Market Overview - The telecommunications sector experienced a significant increase in stock prices, with the Shenwan Communications Index rising by 7.66% during the week [11]. - The sub-sector of communication network equipment and devices led the gains with a 12.40% increase, while communication engineering and services saw a modest rise of 1.22% [14]. Notable Developments - The successful launch of the GW 08 satellite constellation on August 9, 2025, marked a significant advancement in satellite internet capabilities, focusing on applications such as intelligent connected vehicles and marine fisheries [18]. - ZTE Corporation and China Mobile achieved a global first by completing a real-world verification of a single-core hollow fiber with a transmission capacity of 114.9Tb/s, showcasing advancements in optical communication technology [20][21]. - Lumentum reported a substantial increase in revenue driven by AI-related services, with a 55.9% year-over-year growth in the fourth fiscal quarter [22][23]. Future Focus Areas - The report suggests focusing on the computing power industry chain and satellite internet as key areas for investment [3].

Group 1 - The CPO concept sector leads the market with an increase of 2.14% [1] - Dekoli saw a significant rise of 14.12% [1] - Cambridge Technology increased by 9.99% [1] - Lantech Technology rose by 7.08% [1] - Guangxun Technology, Guangku Technology, and Yueling Co. all experienced gains exceeding 5% [1]

Group 1 - The optical communication module sector leads the market with an increase of 1.91% [1] - Tengjing Technology saw a significant rise of 14.3% [1] - Cambridge Technology increased by 9.18% [1] - Guangku Technology rose by 6.18% [1] - Fuxin Technology, Liante Technology, and Guangxun Technology all experienced gains of over 4% [1]

Group 1 - The CPO concept stocks in the A-share market continue to rise, with Cambridge Technology hitting the daily limit, and Dekoli and Liantech rising over 9% [1] - Tianfu Communication increased by over 8%, while Jiulian Technology and Taicheng Light rose over 4% [1] - Other companies such as Guangku Technology, Juguang Technology, Hengtong Optic-Electric, and Xinyi Sheng saw increases of over 3% [1] Group 2 - Cambridge Technology (stock code: 603083) experienced a 9.99% increase, with a total market value of 17.4 billion and a year-to-date increase of 60.43% [2] - Dekoli (stock code: 688205) rose by 9.96%, with a market value of 14.4 billion and a year-to-date increase of 30.79% [2] - Liantech (stock code: 301205) saw a 9.22% increase, with a market value of 14.7 billion and a year-to-date increase of 50.12% [2] - Tianfu Communication (stock code: 300394) increased by 8.67%, with a market value of 93.8 billion and a year-to-date increase of 86.02% [2] - Jiulian Technology (stock code: 688609) rose by 4.99%, with a market value of 6.105 billion and a year-to-date increase of 15.19% [2] - Taicheng Light (stock code: 300570) increased by 4.60%, with a market value of 28.6 billion and a year-to-date increase of 75.00% [2] - Guangku Technology (stock code: 300620) rose by 3.98%, with a market value of 25.1 billion and a year-to-date increase of 108.02% [2] - Juguang Technology (stock code: 688167) increased by 3.86%, with a market value of 10.7 billion and a year-to-date increase of 86.81% [2] - Hengtong Optic-Electric (stock code: 600487) rose by 3.05%, with a market value of 45.8 billion and a year-to-date increase of 9.48% [2] - Xinyi Sheng (stock code: 300502) increased by 3.00%, with a market value of 250 billion and a year-to-date increase of 206.03% [2]

Core Viewpoint - The CPO concept stocks in the A-share market continue to rise, with significant gains observed in several companies, indicating a strong market interest and potential growth in this sector [1]. Group 1: Stock Performance - Cambridge Technology (603083) reached a limit-up of 9.99%, with a total market capitalization of 17.4 billion and a year-to-date increase of 60.43% [2]. - Dekoli (688205) increased by 9.96%, with a market cap of 14.4 billion and a year-to-date rise of 30.79% [2]. - Liantech (301205) saw a gain of 9.22%, with a market value of 14.7 billion and a year-to-date increase of 50.12% [2]. - Tianfu Communication (300394) rose by 8.67%, with a market capitalization of 93.8 billion and an impressive year-to-date increase of 86.02% [2]. - Jiulian Technology (688609) increased by 4.99%, with a market cap of 6.105 billion and a year-to-date rise of 15.19% [2]. - Taicheng Light (300570) saw a 4.60% increase, with a market value of 28.6 billion and a year-to-date increase of 75.00% [2]. - Guangku Technology (300620) rose by 3.98%, with a market cap of 25.1 billion and a year-to-date increase of 108.02% [2]. - Juguang Technology (688167) increased by 3.86%, with a market value of 10.7 billion and a year-to-date rise of 86.81% [2]. - Haotong Optical (600487) saw a 3.05% increase, with a market cap of 45.8 billion and a year-to-date rise of 9.48% [2]. - New Yisheng (300502) rose by 3.00%, with a market capitalization of 250 billion and a year-to-date increase of 206.03% [2].

Group 1 - The A-share laser radar concept stocks experienced a short-term rise on August 19, with Tengjing Technology increasing by over 14% [1] - Saiwei Electronics saw an increase of over 11% [1] - Other stocks such as Guangxun Technology, Guangku Technology, Juguang Technology, and Lingyi Zhi Zao also followed the upward trend [1]

Group 1 - The optical communication module sector experienced a rapid increase, with a rise of 2.59% [1] - Companies such as Tengjing Technology, Cambridge Technology, and Guangku Technology saw significant stock price increases [1]

Core Viewpoint - Guangku Technology (300620) reported strong financial performance for the first half of 2025, with significant increases in revenue and net profit compared to the previous year, indicating robust growth and operational efficiency [1]. Financial Performance - Total revenue reached 597 million yuan, a year-on-year increase of 41.58% [1] - Net profit attributable to shareholders was 51.87 million yuan, up 70.96% year-on-year [1] - In Q2 alone, total revenue was 331 million yuan, reflecting a 26.89% increase year-on-year, while net profit for the quarter was 41.02 million yuan, up 72.04% [1] - Gross margin decreased to 30.92%, down 12.06% year-on-year, while net margin slightly improved to 8.23%, up 0.66% [1] - Total operating expenses were 71.15 million yuan, accounting for 11.93% of revenue, a decrease of 7.08% year-on-year [1] Balance Sheet Highlights - Accounts receivable increased by 39.92% year-on-year, reaching 438 million yuan [1] - Cash and cash equivalents rose to 880 million yuan, a 46.91% increase [1] - Interest-bearing liabilities surged by 270.75% to 731 million yuan [1] - The company reported a significant increase in lease liabilities, up 22,136.24% due to new leasing assets [2] Cash Flow Analysis - Operating cash flow per share decreased significantly by 92.54% to 0.04 yuan, attributed to reduced R&D funding and increased working capital requirements [1][5] - The net cash flow from operating activities showed a decline of 92.55%, indicating challenges in cash generation despite revenue growth [5] Investment and Market Position - The company’s return on invested capital (ROIC) was reported at 2.93%, indicating relatively low capital efficiency compared to historical averages [5][6] - The company’s business model is heavily reliant on R&D, necessitating close examination of the underlying drivers of this growth [6] Fund Holdings - The largest fund holding Guangku Technology is the Shenwan Lixin CSI 1000 Index Enhanced A, with a current scale of 87 million yuan and a recent net value increase of 1.27% [8]

Market Performance - On August 18, the A-share market saw a strong performance with a trading volume of 2.81 trillion yuan, marking a near 10-year high for the Shanghai Composite Index [1][2][3] - The Shanghai Composite Index reached 3740 points during the day, the highest since August 21, 2015, while the ChiNext Index closed at 2606.20 points, the highest since February 2, 2023 [2][3] Sector Performance - Technology stocks led the market rally, with significant gains in the telecommunications, comprehensive, and computer sectors, which rose by 4.46%, 3.43%, and 3.33% respectively [3][4] - Small-cap stocks outperformed large-cap stocks, with the CSI 1000 Index and CSI 2000 Index rising by 1.69% and 2.14% respectively [2][3] Capital Inflow - As of August 15, the A-share margin trading balance reached 20,626.42 billion yuan, with a financing balance of 20,485.99 billion yuan, both hitting over 10-year highs [1][5] - The net inflow of leveraged funds exceeded 530 billion yuan last week, indicating strong market interest [5][6] Investment Opportunities - Analysts suggest that the current market conditions present numerous investment opportunities, particularly in technology growth and small-cap styles, with expectations of continued upward movement in the mid-term [1][7][8] - The overall market capitalization of A-shares reached 110.08 trillion yuan, with a rolling P/E ratio of 21.34 times, indicating a strong valuation environment [7][8] Stock Highlights - Notable stocks in the telecommunications sector included Ruijie Networks and Dekeli, both hitting the 20% limit up, while Guangke Technology rose over 18% [4] - The top stocks with significant net inflows included ZTE Corporation and Lioo Co., with inflows of 27.77 billion yuan and 15.11 billion yuan respectively [6]