关于厦门亿联网络技术股份有限公司 2024 年年度股东大会的 法 律 意 见 书 福建至理律师事务所 地址：福州市鼓楼区洪山园路华润万象城三期 TB#写字楼 22 层 邮政编码：350025 电话：（86 591）88065558 网址：http://www.zenithlawyer.com 1 福建至理律师事务所 关于厦门亿联网络技术股份有限公司 2024 年年度股东大会的法律意见书 闽理非诉字[2025]第 097 号 致：厦门亿联网络技术股份有限公司 福建至理律师事务所（以下简称"本所"）接受厦门亿联网络技术股份有限 公司（以下简称"公司"）之委托，指派魏吓虹、陈宓律师出席公司 2024 年年 度股东大会（以下简称"本次大会"），并依据《中华人民共和国公司法》（以下 简称《公司法》）、《中华人民共和国证券法》（以下简称《证券法》）、《上市公司 股东会规则》（中国证券监督管理委员会公告〔2025〕7 号，以下简称《股东会 规则》）、《深圳证券交易所上市公司股东会网络投票实施细则（2025 年修订）》 （以下简称《网络投票实施细则》）等有关法律、法规、规范性文件以及《公司 章程》之规定出具法律意见。 对于本 ...

证券代码：300628 证券名称：亿联网络 公告编号：2025-030 关于 2025 年限制性股票激励计划内幕信息知情人及 激励对象买卖公司股票情况的自查报告 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。 厦门亿联网络技术股份有限公司（以下简称"公司"）于 2025 年 4 月 18 日召开第五届董事会第六次会议以及第五届监事会第五次会 议，审议通过了《关于公司<2025 年限制性股票激励计划(草案)>及其 摘要的议案》，具体内容详见公司于 2025 年 4 月 21 日在巨潮资讯网 （www.cninfo.com.cn）上披露的相关公告。 根据《上市公司股权激励管理办法》（以下简称"《管理办法》"） 等相关法律法规的规定，公司通过向中国证券登记结算有限责任公司 深圳分公司查询，对 2025 年限制性股票激励计划内幕信息知情人及 激励对象在 2025 年限制性股票激励计划（草案）公开披露前 6 个月 内（即 2024 年 10 月 18 日至 2025 年 4 月 18 日，以下简称"自查期 间"）买卖公司股票的情况进行了自查，具体情况如下： 一、 核查的 ...

证券代码：300628 证券名称：亿联网络 公告编号：2025-028 暨投资者网上集体接待日活动的公告 厦门亿联网络技术股份有限公司 关于参加厦门辖区上市公司 2024 年年报业绩说明会 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。 为进一步加强与投资者的互动交流，厦门亿联网络技术股份有限 公司（以下简称"公司"）将参加由厦门证监局、厦门上市公司协会 与深圳市全景网络有限公司联合举办的"厦门辖区上市公司 2024 年 年报业绩说明会暨投资者网上集体接待日活动"，现将相关事项公告 如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演" 网站（http://rs.p5w.net），或关注微信公众号：全景财经，或下载 全景路演 APP,参与本次互动交流，活动时间为 2025 年 5 月 15 日（周 四）15:40-17:00。届时公司高管将在线就公司 2024 年度业绩、公司 治理、发展战略、经营状况、股权激励和可持续发展等投资者关心的 问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告。 厦门亿联网络技术股份有限公司 二〇二五年五月 ...

关于 2025 年限制性股票激励计划激励对象 名单的公示情况说明及核查意见 证券代码：300628 证券名称：亿联网络 公告编号：2025-029 厦门亿联网络技术股份有限公司监事会 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。 厦门亿联网络技术股份有限公司（以下简称"公司"）于 2025 年 4 月 18 日召开第五届董事会第六次会议以及第五届监事会第五次会 议，审议通过了《关于公司<2025 年限制性股票激励计划(草案)>及其 摘要的议案》，具体内容详见公司于 2025 年 4 月 21 日在巨潮资讯网 （www.cninfo.com.cn）上披露的相关公告。 根据《上市公司股权激励管理办法》（以下简称"《管理办法》"） 等有关规定，公司对 2025 年限制性股票激励计划激励对象的姓名和 职务在公司内部进行了公示。根据《管理办法》和《公司章程》的有 关规定，公司监事会结合公示情况对公司 2025 年限制性股票激励计 划激励对象名单进行了核查，相关公示情况的说明及核查意见如下： 一、公示情况 1、2025 年 4 月 21 日，公司在中国证监会指定信息披露 ...

Investment Rating - The report maintains an "Outperform" rating for the company [4][9]. Core Insights - The company reported a revenue of RMB 5.62 billion for 2024, representing a year-on-year increase of 29.28%, and a net profit attributable to shareholders of RMB 2.65 billion, up 31.72% year-on-year [9]. - In Q1 2025, the company achieved a revenue of RMB 1.21 billion, a year-on-year increase of 3.57%, but a quarter-on-quarter decrease of 20.27% [9]. - The revenue growth in Q1 2025 fell short of expectations due to tariff adjustments and increased overseas warehouse shipments affecting delivery timelines [9]. - The updated profit forecast for 2025-2027 projects net profits of RMB 2.90 billion, RMB 3.24 billion, and RMB 3.58 billion, respectively, with corresponding EPS of RMB 2.30, RMB 2.56, and RMB 2.83 [9]. - The target price is set at RMB 45.91, based on a 20x PE for 2025, reflecting a slight decrease of 2% from previous estimates [9]. Financial Summary - The company’s revenue is projected to grow from RMB 5.62 billion in 2024 to RMB 7.72 billion by 2027, with annual growth rates of 29.3%, 11.7%, 11.3%, and 10.5% respectively [3]. - Net profit attributable to shareholders is expected to increase from RMB 2.65 billion in 2024 to RMB 3.58 billion in 2027, with growth rates of 31.7%, 9.6%, 11.6%, and 10.4% respectively [3]. - The company’s return on equity (ROE) is projected to rise from 29.6% in 2024 to 36.2% in 2027 [3]. Product Performance - Revenue from desktop communication terminals reached RMB 3.08 billion, up 21.13% year-on-year, with a gross profit margin of 67.55% [9]. - Conference products generated RMB 1.99 billion in revenue, a 36.21% increase year-on-year, with a gross profit margin of 65.67% [9]. - Cloud office terminals saw revenue growth of 62.98%, totaling RMB 0.53 billion [9]. - The contribution of second and third growth curves to total revenue increased from 41.15% to 44.89% [9]. Shareholder Returns - The company distributed total cash dividends of approximately RMB 2.40 billion in 2024, with a payout ratio of 90.59% [9].

Investment Rating - The report maintains an "Outperform" rating for the company with a target price of RMB 45.91, reflecting a slight decrease of 2% from previous estimates [4][9]. Core Insights - The company's revenue for 2024 is projected at RMB 5.62 billion, representing a year-on-year increase of 29.28%. The net profit attributable to shareholders is expected to reach RMB 2.65 billion, up 31.72% year-on-year [9]. - In Q1 2025, the company reported revenue of RMB 1.21 billion, a 3.57% increase year-on-year but a 20.27% decrease quarter-on-quarter. The net profit attributable to shareholders was RMB 0.56 billion, down 1.15% year-on-year and 3.63% quarter-on-quarter [9]. - The revenue growth in Q1 2025 fell short of expectations due to tariff adjustments and increased overseas warehouse shipments affecting delivery timelines [9]. Financial Summary - Revenue and profit forecasts for 2025-2027 are updated to RMB 2.90 billion, RMB 3.24 billion, and RMB 3.58 billion for net profit, with corresponding EPS of RMB 2.30, RMB 2.56, and RMB 2.83 [9]. - The company’s revenue from desktop communication terminals is RMB 3.08 billion, with a gross profit margin of 67.55%. Conference products generated RMB 1.99 billion in revenue, with a gross profit margin of 65.67% [9]. - The total cash dividends for 2024 are projected at RMB 2.40 billion, with a payout ratio of 90.59% [9].

Core Viewpoint - The performance of listed companies in Xiamen demonstrates strong profitability and growth potential, contributing significantly to the stability of the regional economy, with 68 companies achieving a combined net profit of 3.816 billion yuan in Q1 2025 [2]. Group 1: Financial Performance - 68 listed companies in Xiamen reported a total net profit of 3.816 billion yuan in Q1 2025, with 62 companies profitable, representing over 90% [2]. - 38 companies experienced year-on-year profit growth, accounting for nearly 60% of the total [2]. - 17 companies reported profits exceeding 100 million yuan, highlighting the strong financial performance of the Xiamen market [2]. Group 2: Top Performing Companies - Xiamen Bank led with a net profit of 645 million yuan, with management expecting a gradual increase in return on investment (ROI) throughout the year [9]. - Jianfa Co. achieved a net profit of 584 million yuan, with total revenue reaching 143.773 billion yuan, a year-on-year increase of 9.47% [9]. - Yilian Network reported a net profit of 562 million yuan, with total revenue of 1.205 billion yuan, reflecting a year-on-year growth of 3.57% [9]. Group 3: Emerging Industries - Weike Technology's revenue reached 539 million yuan, a year-on-year increase of 64.37%, with net profit doubling to 77.3928 million yuan [11]. - Tebao Bio's revenue was 673 million yuan, up 23.48%, with a net profit of 182 million yuan, reflecting a 41.40% increase [12]. - Huamao Technology reported revenue of 537 million yuan, a 14.37% increase, with net profit rising by 60.34% to 86.4219 million yuan [12]. Group 4: Strategic Developments - Xiamen Xiangyu's net profit was 509 million yuan, a year-on-year increase of 24.88%, supported by improved risk management and financial structure [10]. - Companies are enhancing profitability through upstream and downstream integration and optimizing product structures, with Weike Technology focusing on high-performance precision molds for emerging industries [12].

Investment Rating - The report maintains a "Recommended" rating for the company, indicating an expected performance exceeding the benchmark index by more than 10% over the next 6 to 12 months [5][11]. Core Insights - The company reported strong annual performance with a revenue of 56.21 billion yuan, reflecting a year-on-year growth of 29.28%, and a net profit attributable to shareholders of 26.48 billion yuan, up 31.72% year-on-year [5]. - In Q1 2025, the company achieved a revenue of 12.05 billion yuan, a growth of 3.57%, while the net profit decreased by 1.15% year-on-year [5]. - The company is focusing on AI-driven enterprise communication solutions, with a comprehensive offering that includes cloud, endpoint, and platform services [5]. - The company plans to enhance its product lineup with innovative features, including a new generation of video conferencing products with advanced AI capabilities [5]. - The overall gross margin for 2024 is projected at 65.45%, with a net margin of 47.10%, indicating stable profitability [5]. Financial Summary - Revenue projections for 2024 to 2027 are as follows: 56.21 billion yuan (2024), 64.11 billion yuan (2025), 74.43 billion yuan (2026), and 88.72 billion yuan (2027) [4][7]. - The net profit attributable to shareholders is expected to grow from 29.15 billion yuan in 2025 to 39.21 billion yuan in 2027, with corresponding growth rates of 10.09% and 17.97% [5][7]. - The company’s earnings per share (EPS) is projected to increase from 2.31 yuan in 2025 to 3.10 yuan in 2027 [5][7]. - The price-to-earnings (P/E) ratio is expected to decrease from 14.29 in 2025 to 10.63 in 2027, indicating potential value appreciation [5][7].

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Views - The company achieved a revenue of 5.621 billion yuan in 2024, representing a year-on-year increase of 29.28%, and a net profit attributable to shareholders of 2.648 billion yuan, up 31.72% year-on-year. In Q1 2025, the revenue was 1.205 billion yuan, a year-on-year increase of 3.57%, while the net profit was 562 million yuan, down 1.15% year-on-year [4][10]. - The company plans to launch new products in 2025, including the T7 and T8 series desktop phones, a new generation of audio and video conference tablets, and AI-based tools such as RoomDesigner and SmartSpace. Additionally, the cloud office terminal will introduce the ANC BH78 Bluetooth headset and the UH4X wired headset series, further enriching the product line [2][10]. - The company is advancing its globalization strategy, with 2024 revenues from Europe at 2.369 billion yuan (up 34.98% year-on-year) and from the Americas at 2.184 billion yuan (up 26.42% year-on-year). The company is building a competitive global service network through local talent recruitment and service team development [10]. - The company has a strong focus on R&D, with 9.95% of revenue allocated to R&D in 2024 and 51.50% of employees in R&D roles. This investment supports innovation in audio and video processing, cloud architecture, and AI applications in enterprise communication [10]. - The company has shown a positive growth trend across its business lines, with cloud office terminals growing faster than video conferencing and desktop communication terminals, indicating enhanced management capabilities and a virtuous cycle in technology development and product creation [10]. - The company forecasts a net profit of 3.056 billion yuan in 2025, with a growth rate of no less than 15% based on 2024 figures, and expects to achieve net profits of 3.617 billion yuan and 4.313 billion yuan in 2026 and 2027, respectively, with corresponding growth rates of 18% and 19% [10][16].

Investment Rating - The investment rating for the company is "Accumulate" [1] Core Views - The company achieved a revenue of 5.621 billion yuan in 2024, representing a year-on-year growth of 29.28%, and a net profit of 2.648 billion yuan, up 31.72% year-on-year [2] - In Q1 2025, the company reported a revenue of 1.205 billion yuan, a year-on-year increase of 3.57%, but a slight decline in net profit attributable to shareholders by 1.15% [2] - The company plans to extend its supply chain overseas in 2025 to mitigate potential trade risks [11] - The overall gross margin for 2024 was 65.4%, with a net margin of 47.1%, reflecting a 0.9 percentage point increase year-on-year [10] Summary by Sections Revenue and Profitability - The company’s revenue for 2024 was 5.621 billion yuan, with a net profit of 2.648 billion yuan, showing strong growth rates of 29.28% and 31.72% respectively [2] - For Q1 2025, revenue was 1.205 billion yuan, a 3.57% increase, while net profit decreased by 1.15% [2] Product Performance - Core demand remains stable, with significant growth in meeting products and cloud office terminals. Meeting products generated 1.997 billion yuan in revenue, up 36.21% year-on-year, accounting for 35.52% of total revenue [3] - Cloud office terminals saw revenue of 527 million yuan, a remarkable growth of 62.98% year-on-year [3] - Desktop communication terminals achieved revenue of 3.082 billion yuan, a 21.13% increase, making up 54.83% of total revenue [6] Product Development and Innovation - The company plans to focus on "AI+" as a key growth driver in 2025, expanding its product matrix with new offerings in meeting products and cloud office terminals [7][8] - New products include advanced audio-visual meeting solutions and a range of wired and wireless headsets [7][8] Financial Health and Cash Flow - The company maintains a high cash flow with a cash income ratio of 1.0, and operating net cash flow increased by 39.2% year-on-year [11] - Inventory stood at 810 million yuan, an 11.9% increase year-on-year, indicating stable demand [11] Shareholder Returns - The company plans to distribute a cash dividend of 13.00 yuan per 10 shares, totaling 1.641 billion yuan, resulting in an annual dividend payout ratio of 90.59% [12] Future Outlook - The revenue forecast for 2025 has been adjusted to 6.389 billion yuan, with an expected EPS of 2.30 yuan, maintaining an "Accumulate" rating based on the current market conditions [13]