| 证券代码：300623 | 证券简称：捷捷微电 公告编号：2024-087 | | --- | --- | | 证券代码：123115 | 证券简称：捷捷转债 | 江苏捷捷微电子股份有限公司 关于发行股份及支付现金购买资产并募集配套资金相关方承诺事项 的公告 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。 江苏捷捷微电子股份有限公司（以下简称"公司"）拟通过发行股份及支付 现金的方式向南通苏通集成电路重大产业项目投资基金合伙企业（有限合伙）（以 下简称"苏通基金"）、南通投资管理有限公司（以下简称"南通投资"）、南 通科技创业投资合伙企业（有限合伙）（以下简称"科创基金"）、南通苏通控 股集团有限公司（以下简称"苏通控股"）、江苏南通峰泽一号创业投资合伙企 业（有限合伙）（以下简称"峰泽一号"）、南通挚琦智能产业投资中心（有限 合伙）（以下简称"南通挚琦"）购买其合计持有的捷捷微电（南通）科技有限 公司（以下简称"捷捷南通科技"或"标的公司"）30.24%股权，同时向不超过 35 名符合条件的特定对象发行股份募集配套资金（以下简称"本次交易"）。 2024 ...

| 证券代码：300623 | 证券简称：捷捷微电 | 公告编号：2024-095 | | --- | --- | --- | | 证券代码：123115 | 证券简称：捷捷转债 | | 江苏捷捷微电子股份有限公司 3、会议召开地点：江苏省启东市经济开发区钱塘江路 3000 号 101 办公楼 4 楼主会议室 4、会议召开方式：现场及通讯会议 5、会议召集人：董事长黄善兵 6、会议主持人：董事长黄善兵 7、召开情况合法、合规、合章程性说明：会议的召集召开符合《公司法》 及公司《章程》的规定。 第五届董事会第十五次会议决议公告 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、董事会会议召开情况 江苏捷捷微电子股份有限公司（以下简称"公司"）召开第五届董事会第十 五次会议。 1、会议通知的时间和方式：2024 年 10 月 25 日邮件方式通知 2、会议召开的时间：2024 年 10 月 28 日上午 10:30 公司拟发行股份募集配套资金不超过 66,000 万元，为规范公司募集配套资 金的管理和使用，根据相关规定，公司拟在商业银行开设本次向特定对象发行股 ...

Investment Rating - Buy rating maintained for the company [1] Core Views - Strong Q3 2024 performance with significant revenue and profit growth driven by downstream market recovery and product structure upgrades [1] - Revenue for Q1-Q3 2024 reached 2,006 million yuan, up 40.63% YoY, with net profit attributable to shareholders at 333 million yuan, up 133.37% YoY [1] - Gross margin improved to 38.22%, up 3.66 percentage points YoY [1] - Q3 2024 revenue was 743 million yuan, up 41.50% YoY, with net profit attributable to shareholders at 119 million yuan, up 155.31% YoY [1] - Gross margin for Q3 2024 reached 40.14%, up 7.29 percentage points YoY [1] - Slight downward revision of net profit forecasts for 2024-2026 to 445/601/800 million yuan due to slower-than-expected downstream market recovery [1] Business Performance and Growth Drivers - Downstream market recovery and product structure upgrades drove revenue growth, with increased capacity utilization and profitability [2] - Non-recurring gains of 51.7 million yuan, including 33.04 million yuan from disposal of non-current assets, contributed to net profit [2] - Nantong project achieved a monthly capacity of 100,000 wafers, with a yield rate above 95%, supporting future growth in high-end power semiconductor devices [3] - Automotive-grade packaging and testing project expected to generate 1.9 billion units annually, with potential sales of 2 billion yuan upon completion [3] Financial Projections - Revenue forecast for 2024-2026: 2,850/3,691/4,486 million yuan, with YoY growth of 35.3%/29.5%/21.5% [4] - Net profit attributable to shareholders forecast for 2024-2026: 445/601/800 million yuan, with YoY growth of 103.0%/35.2%/33.1% [4] - Gross margin expected to improve to 38.1%/38.7%/39.2% for 2024-2026 [4] - ROE projected to increase to 9.1%/11.0%/12.9% for 2024-2026 [4] Valuation Metrics - Current P/E ratios for 2024-2026: 74.2x/54.9x/41.2x [4] - P/B ratios for 2024-2026: 8.6x/7.5x/6.5x [4] - EV/EBITDA ratios for 2024-2026: 36.6x/28.2x/22.4x [7]

Investment Rating - The report maintains a "Buy" rating for the company, Jiejie Microelectronics (300623) [2] Core Insights - The company reported a revenue of 2.006 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 40.63%. The net profit attributable to shareholders reached 333 million yuan, up 133.37% year-on-year [2] - In Q3 alone, the company achieved a revenue of 743 million yuan, a year-on-year increase of 41.50%, with a net profit of 119 million yuan, reflecting a growth of 155.31% year-on-year [2] - The company is experiencing a recovery in downstream demand, leading to full capacity utilization. The gross profit margin improved to 38.22%, an increase of 3.66% year-on-year [2] - The company is set to begin trial production of automotive-grade packaging and testing by the end of this year, with a projected annual production capacity of 1.9 billion automotive-grade power devices, which could generate nearly 2 billion yuan in sales [2] Financial Forecast and Key Metrics - The forecasted net profit for the company is expected to be 450 million yuan in 2024, 600 million yuan in 2025, and 780 million yuan in 2026 [2] - The projected revenue for 2024 is 2.82 billion yuan, with a growth rate of 33.90%, and is expected to reach 4.827 billion yuan by 2026, with a growth rate of 30.13% [6] - The earnings per share (EPS) is projected to be 0.61 yuan in 2024, increasing to 1.06 yuan by 2026 [6] - The company’s price-to-earnings (P/E) ratio is currently at 156.17, expected to decrease to 44.13 by 2026 [6]

| 证券代码：300623 | 证券简称：捷捷微电 | 公告编号：2024-094 | | --- | --- | --- | | 证券代码：123115 | 证券简称：捷捷转债 | | 江苏捷捷微电子股份有限公司 关于对外投资设立控股子公司的进展公告 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。 江苏捷捷微电子股份有限公司（以下简称"公司"或"捷捷微电"）于 2024 年 9 月 13 日召开第五届董事会第十三次会议，审议通过了《关于对外投资设立 控股子公司的议案》，同意公司以自有资金在四川省成都市设立控股子公司，公 司与张有润共同出资人民币 1,000 万元成立"捷捷微电（成都）科技有限公司"。 其中，公司出资人民币 850 万元，占成都科技注册资本的 85%；张有润出资 人民币 150 万元，占成都科技注册资本的 15%。具体内容详见公司于 2024 年 9 月 13 日在巨潮资讯网（www.cninfo.com.cn）刊登的《关于对外投资设立控股子 公司的公告》（公告编号：2024-077）。 近日，捷捷微电控股子公司捷捷微电（成都）科技有限公司已完 ...

2024年10月24日 来源：公司年报、国金证券研究所 捷捷微电 (300623.SZ) 买入(维持评级) 公司点评 证券研究报告 Q3 扣非归母净利润同比大幅改善， 需求复苏带动产能利用率提升 业绩简评 2024 年 10 月 24 日公司披露三季报，2024 年前三季度公司实现 营收 20.06 亿元,同比增长 40.63%;实现归母净利润 3.33 亿元, 同比+133.37%。其中,3Q24 单季度实现营收 7.43 亿元,同比 +41.50%; 实现归母净利润 1.19 亿元，同比+155.31%。 经营分析 3Q24 收入端增速同比保持高增，扣非归母净利润同比大幅改善。 3Q24 公司单季度的收入增速为 41.50%，环比微增 0.07%。2024 年前三季度,公司实现扣非后的归母净利润 2.81 亿元,同比 +146.69%。3Q24 下游消费和家电等应用领域需求复苏,中低压 功率器件订单需求旺盛。公司于 1M24 对部分 Trench Mosfet 产 品线提价 5%-10%，1-3Q2024 公司综合毛利率较 23 年全年提升 了 4.09 pcts 至 38.22%, 3Q24 公司单季度 ...

Financial Performance - Revenue for the third quarter reached RMB 743.49 million, a year-on-year increase of 41.50%[3] - Net profit attributable to shareholders of the listed company for the third quarter was RMB 118.64 million, a year-on-year increase of 155.31%[3] - Revenue increased by 40.63% to 2,006,006,681.84 RMB, driven by sales growth[9] - Net profit surged by 172.35% to 351,055,124.21 RMB, primarily due to increased profits[9] - Total revenue for the period reached 2,006,006,681.84 RMB, a significant increase from 1,426,455,277.47 RMB in the same period last year[24] - Net profit attributable to the parent company's shareholders was 332,626,482.73 RMB, compared to 142,529,237.13 RMB in the previous year[25] - Operating profit surged to 408,696,021.57 RMB, a substantial rise from 135,379,863.73 RMB in the previous year[25] - Comprehensive income for the period totaled 351,055,124.21 RMB, with 332,626,482.73 RMB attributable to the parent company's owners[26] - Basic earnings per share for the period were 0.45 RMB, and diluted earnings per share were 0.43 RMB[26] Assets and Liabilities - Total assets as of the end of the third quarter were RMB 7.80 billion, an increase of 1.04% compared to the end of the previous year[3] - The company's monetary funds increased by 59.02% to RMB 575.75 million, mainly due to increased sales and collections[7] - The company's accounts receivable financing increased by 40.18% to RMB 436.94 million, mainly due to an increase in bank acceptance bills held[7] - The company's prepayments increased by 37.92% to RMB 66.44 million, mainly due to adjustments in capacity deposits under the framework agreement with SMIC[7] - The company's construction in progress decreased by 53.34% to RMB 638.51 million, mainly due to the transfer of fixed assets for the "automotive-grade" power semiconductor packaging and testing project[7] - The company's long-term loans decreased by 30.92% to RMB 520.45 million, mainly due to a reduction in long-term borrowing[8] - The company's deferred tax liabilities decreased by 88.84% to RMB 31,620.27, mainly due to a decrease in deferred tax liabilities recognized from fair value changes[8] - Fixed assets grew to 4,460,453,039.05 RMB, up from 3,798,452,872.62 RMB, indicating expansion in infrastructure[22] - Total liabilities decreased to 3,095,700,622.56 RMB from 3,326,142,686.54 RMB, showing improved financial health[23] - Total assets increased slightly to 7,802,459,515.03 RMB from 7,721,873,336.43 RMB, reflecting steady growth[22] - The company's equity attributable to the parent company's shareholders rose to 4,050,524,675.78 RMB from 3,758,525,074.69 RMB, demonstrating stronger shareholder value[23] Cash Flow - Operating cash flow decreased by 25.35% to 545,076,304.31 RMB, mainly due to VAT refunds received by subsidiaries in the previous year[10] - Investment cash flow turned positive at 53,016,400.76 RMB, a 107.53% increase, as payments for projects and equipment by subsidiaries decreased[10] - Financing cash flow decreased by 1153.16% to -369,215,065.56 RMB, primarily due to reduced loans[10] - Cash received from sales of goods and services amounted to 1,757,941,089.63 RMB[27] - Net cash flow from operating activities was 545,076,304.31 RMB[28] - Cash inflows from investment activities totaled 2,053,754,649.73 RMB, including 1,955,000,000.00 RMB from investment recoveries[28] - Cash outflows for investment activities were 2,000,738,248.97 RMB, with 1,626,000,000 RMB used for investments[28] - Net cash flow from investment activities was 53,016,400.76 RMB[28] - Net cash flow from financing activities was -369,215,065.56 RMB[28] - The net increase in cash and cash equivalents for the period was 227,368,691.88 RMB[28] - The ending balance of cash and cash equivalents was 561,678,862.94 RMB[28] Shareholders and Equity - The top shareholder, Jiangsu Jiejie Investment Co., Ltd., holds 27.92% of the shares[11] - Huang Shanbing, a major individual shareholder, holds 8.43% of the shares[11] - Nantong Zhongchuang Investment Management Co., Ltd. holds 6.33% of the shares[11] - The company's top 10 shareholders include both domestic and foreign entities, with significant holdings in RMB ordinary shares[13] - The company's shareholders, including Jiangsu Jiejie Investment Co., Ltd. and Nantong Zhongchuang Investment Management Co., Ltd., have consistent action relationships[13] - The company's top 10 shareholders include Guotai Junan Securities Co., Ltd. and China Merchants Bank Co., Ltd., with their respective holdings accounting for 0.92% and 0.66% of the total shares[15] - The company's executive Huang Shanbing holds 46,447,068 restricted shares, with an increase of 2,599,068 shares during the period[16] - The company's executive Zhang Zulei holds 15,879,672 restricted shares, with an increase of 1,224,629 shares during the period[16] - The company's executive Shen Xinxin had 17,207,300 restricted shares fully unlocked during the period[16] - The company's executive Wang Chengsen had 25,515,000 restricted shares fully unlocked during the period[16] - The company's other equity incentive restricted shares totaled 1,480,124 shares, all of which were released during the period[17] - The total number of restricted shares at the end of the period is 64,630,659 shares, with an increase of 3,823,697 shares during the period[17] - The total number of restricted shares at the beginning of the period was 105,248,456 shares, with 44,441,494 shares released during the period[17] Intellectual Property and Innovation - The company obtained a patent for a "Separated Gate MOSFET Device and Manufacturing Method for Reducing Switching Loss" with patent number ZL202010317951.7, authorized on July 12, 2024[18] - The company has been granted a total of 266 patents, including 86 invention patents, 179 utility model patents, and 1 design patent[19] - The company's subsidiary, JieJie Semiconductor, has been granted 126 patents, including 41 invention patents and 84 utility model patents[20] - JieJie Shanghai has been granted 28 patents, including 9 invention patents and 19 utility model patents[20] - JieJie Nantong Technology has been granted 25 patents, including 6 invention patents and 19 utility model patents[20] - Jiangsu Yixi Technology has been granted 8 patents, including 4 invention patents[20] - The company has registered a total of 118 trademarks, with JieJie Microelectronics holding 93 of them[20] - Research and development expenses increased to 196,683,715.30 RMB from 183,836,669.22 RMB, reflecting continued investment in innovation[24] Inventory and Receivables - The company's accounts receivable increased to 516,747,483.24 yuan from 478,179,433.79 yuan at the beginning of the quarter[21] - Inventory levels rose to 611,712,881.59 yuan from 484,331,838.39 yuan at the start of the quarter[21] - The company's total current assets amounted to 2,420,193,581.95 yuan, up from 2,229,427,035.57 yuan at the beginning of the period[21] - As of the end of the quarter, the company held 575,754,839.33 yuan in cash and cash equivalents, an increase from 362,064,942.60 yuan at the beginning of the period[21] Operating Costs and Expenses - Total operating costs increased to 1,667,391,713.83 RMB from 1,307,507,425.13 RMB, driven by higher business activity[24] - Other comprehensive income after tax for the parent company's shareholders was -671,871.73 RMB, compared to -86,461.17 RMB, indicating minor fluctuations[23]

江苏捷捷微电子股份有限公司 舆情管理制度 第一条 为提高江苏捷捷微电子股份有限公司（以下简称"公司"） 应对各类舆情的能力，建立快速反应和应急处置机制，及时、妥善处 理各类舆情对公司股价、商业信誉及正常生产经营活动造成的影响， 切实保护投资者合法权益，根据相关法律、法规和规范性文件及《公 司章程》的规定，并结合公司实际情况，特制定本制度。 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； （2024 年 10 月） 第一章 总则 （三）可能或者已经影响社会公众投资者投资取向，造成股价异 常波动的信息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易 价格产生较大影响的事件信息。 第三条 舆情信息的分类： （一）重大舆情：指传播范围较广，严重影响公司公众形象或正 常经营活动，使公司已经或可能遭受损失，已经或可能造成公司股票 及其衍生品种交易价格变动的负面舆情。 （二）一般舆情：指除重大舆情之外的其他舆情。 1 第二章 舆情管理的组织体系及其工作职责 第四条 公司舆情应对坚持"科学应对、突出导向、注重实效" 的总 ...

| 证券代码：300623 | 证券简称：捷捷微电 | 公告编号：2024-093 | | --- | --- | --- | | 证券代码：123115 | 证券简称：捷捷转债 | | 江苏捷捷微电子股份有限公司 第五届监事会第十一次会议决议公告 本公司及监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、监事会会议召开情况 江苏捷捷微电子股份有限公司（以下简称"公司"）召开第五届监事会第十 一次会议。 1、会议通知的时间和方式：2024 年 10 月 21 日邮件方式通知 2、会议召开的时间：2024 年 10 月 24 日下午 14:30 3、会议召开地点：江苏省启东市经济开发区钱塘江路 3000 号 101 办公楼 4 楼主会议室 4、会议召开方式：现场会议 5、会议召集人：监事会主席钱清友 6、会议主持人：监事会主席钱清友 7、召开情况合法、合规、合章程性说明：会议的召集召开符合《公司法》 及公司《章程》的规定。 应出席监事会会议的监事人数共 3 人，实际出席本次监事会会议的监事（包 括委托出席的监事人数）共 3 人，缺席本次监事会会议的监事共 0 人。 二 ...

| 证券代码：300623 | 证券简称：捷捷微电 | 公告编号：2024-092 | | --- | --- | --- | | 证券代码：123115 | 证券简称：捷捷转债 | | 江苏捷捷微电子股份有限公司 第五届董事会第十四次会议决议公告 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、董事会会议召开情况 江苏捷捷微电子股份有限公司（以下简称"公司"）召开第五届董事会第十 四次会议。 1、会议通知的时间和方式：2024 年 10 月 21 日邮件方式通知 2、会议召开的时间：2024 年 10 月 24 日上午 10:30 3、会议召开地点：江苏省启东市经济开发区钱塘江路 3000 号 101 办公楼 4 楼主会议室 4、会议召开方式：现场及通讯会议 5、会议召集人：董事长黄善兵 6、会议主持人：董事长黄善兵 7、召开情况合法、合规、合章程性说明：会议的召集召开符合《公司法》 及公司《章程》的规定。 应出席董事会会议的董事人数共 9 人，实际出席本次董事会会议的董事（包 括委托出席的董事人数）共 9 人，缺席本次董事会会议的董事共 0 人。 经审 ...