11&12/F, TaiPing Finance Tower, 6001 Yitian Road, Futian District, Shenzhen, P.R. CHINA 电话(Tel)：(0755)88265288 传真(Fax)：(0755)88265537 电子邮件（E-mail）：info@sundiallawfirm.com 关于深圳市广和通无线股份有限公司 2022 年限制性股票激励计划 首次授予部分第二个解除限售期可解除限售 条件成就相关事项的 法律意见书 中国 深圳 福田区益田路 6001 号太平金融大厦 11、12 楼 邮编：518038 关于深圳市广和通无线股份有限公司 2022 年限制性股票激励计划 首次授予部分第二个解除限售期可解除限售 条件成就相关事项的 法律意见书 信达励字（2024）第 129 号 网址（Website）：https://www.sundiallawfirm.com 法律意见书 广东信达律师事务所 致：深圳市广和通无线股份有限公司 根据深圳市广和通无线股份有限公司（以下简称"公司"）与广东信达律师 事务所（以下简称"信达"）签订的法律顾问聘请协议，信达接受公司 ...

证券代码：300638 证券简称：广和通 公告编号：2024-096 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。 特此公告。 2024 年 9 月 5 日深圳市广和通无线股份有限公司（以下简称"公司"）第四 届监事会第六次会议，审议通过了《关于公司 2022 年限制性股票激励计划首次 授予部分第二个解除限售期可解除限售条件成就的议案》及《关于核查 2022 年 限制性股票激励计划首次授予部分第二期可解除限售激励对象名单的议案》。公 司监事会根据《公司法》、《证券法》、《上市公司股权激励管理办法》以及公 司《2022 年限制性股票激励计划》的规定，对 2022 年限制性股票激励计划首次 授予部分第二期可解除限售激励对象名单进行审核，发表核查意见如下： 1、根据《上市公司股权激励管理办法》、公司《2022 年限制性股票激励计 划》等有关规定，公司 2022 年限制性股票激励计划的 154 名限制性股票激励对 象均符合《上市公司股权激励管理办法》、公司《2022 年限制性股票激励计划》 及公司《2022 年股权激励计划实施考核管理办法》规定的激励对象范围。 深圳 ...

一、审议通过了《关于公司 2022 年限制性股票激励计划首次授予部分第二 个解除限售期可解除限售条件成就的议案》 证券代码：300638 证券简称：广和通 公告编号：2024-093 深圳市广和通无线股份有限公司 第四届董事会第六次会议决议公告 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。 深圳市广和通无线股份有限公司（以下简称"公司"）第四届董事会第六次会 议，于 2024 年 9 月 2 日发出会议通知，2024 年 9 月 5 日以现场会议的方式召开。 本次会议应参与董事5名，实际参与董事5名。董事长张天瑜先生主持本次会议， 董事会会议的举行和召开符合国家有关法律、法规及《公司章程》的规定。经充 分讨论和审议，会议形成决议如下： 二、备查文件 1、深圳市广和通无线股份有限公司第四届董事会第六次会议决议。 深圳市广和通无线股份有限公司 董事会 二〇二四年九月五日 公司 2022 年限制性股票激励计划首次授予部分的限制性股票的第二个解除 限售期可解除限售条件已满足，同意达到考核要求的 154 名激励对象在第二个解 除限售期可解除限售的限制性股票数量为 38 ...

证券代码：300638 证券简称：广和通 公告编号：2024-095 深圳市广和通无线股份有限公司 关于 2022 年限制性股票激励计划首次授予部分 第二个解除限售期解除限售条件成就的公告 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。 特别提示： 1、本次可上市流通的限制性股票数量为 388,982 股，占公司总股本的 0.05%。 2、本次解除限售事宜需在有关机构的手续办理结束后方可解除限售，届 时将另行公告，敬请投资者注意。 深圳市广和通无线股份有限公司（以下简称"公司"）于 2024 年 9 月 5 日召 开的第四届董事会第六次会议，审议通过了《关于公司 2022 年限制性股票激励 计划首次授予部分第二个解除限售期可解除限售条件成就的议案》，董事会认 为首次授予部分第二个解除限售期可解除限售条件已经满足，本次符合解除限 售条件的激励对象 154 人，合计可解除限售的限制性股票数量为 388,982 股， 占公司总股本的比例为 0.05%。具体情况如下： 一、限制性股票激励计划实施情况概要 1、2022 年 6 月 10 日，公司第三届董事会第十七次会议 ...

证券代码：300638 证券简称：广和通 公告编号：2024-094 深圳市广和通无线股份有限公司 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。 深圳市广和通无线股份有限公司（以下简称"公司"）第四届监事会第六次会 议，于 2024 年 9 月 2 日发出会议通知，2024 年 9 月 5 日以现场会议方式召开， 本次会议应参与监事 3 名，实际参与监事 3 名。监事会主席陈绮华女士主持本次 会议，监事会会议的举行和召开符合国家有关法律、法规及《公司章程》的规定。 经充分讨论和审议，会议形成决议如下： 一、审议通过了《关于公司 2022 年限制性股票激励计划首次授予部分第二 个解除限售期可解除限售条件成就的议案》 公司 2022 年限制性股票激励计划首次授予部分的限制性股票的第二个解除 限售期可解除限售条件已满足，同意达到考核要求的 154 名激励对象在第二个解 除限售期可解除限售的限制性股票为 388,982 股，占公司总股本的 0.05%。 具体内容详见同日刊登于中国证监会指定创业板信息披露网站巨潮资讯网 （http://www.cninfo.com.c ...

广和通（300638.SZ） 24H1 营收利润双增长，积极布局机器人领域产品，推动公司长期 稳健发展 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------|-------|-------|-------|--------|------------------------------------------|----------| | | | | | | | | | | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入（维持评级） | | | 营业收入（百万元） | 5,646 | 7,716 | 8,176 | 8,672 | 10,222 | 股票信息 | | | 增长率 yoy （ % ） | 37.4 | 36.7 | 6.0 | 6.1 | 17.9 | | | | 归母净利润（百万元） | 365 | 564 | 697 | 649 | 779 | 行业 | 通信 | | 增长率 yoy （ % ...

Investment Rating - The investment rating for the company is "Accumulate" (downgraded) [1] Core Views - The company's FWA business is under short-term pressure, but there are opportunities in AI and robotics [1] - The company plans to sell its overseas vehicle-mounted pre-installation business (Ruiling Wireless), which is expected to bring short-term investment returns while impacting some vehicle-mounted business revenue and profit [1][2] - The company aims to allocate more resources to the AI and robotics sectors to reshape its second growth curve [1] Financial Performance - In the first half of 2024, the company achieved revenue of 4.075 billion yuan, a year-on-year increase of 5.42%, and a net profit of 333 million yuan, up 10.17% year-on-year [1] - The overall industry is showing signs of recovery, although individual business lines are affected by downstream customer rhythms, leading to revenue and profit pressure in Q2 [1] - The company has a solid order backlog for its FWA business, with significant shipment growth expected in July [1] Business Segments - Vehicle-mounted business continues to grow well, with domestic vehicle-mounted pre-installation business rapidly increasing [1] - The PC business has been growing rapidly since Q3 of last year, benefiting from low downstream inventory cycles and a replacement cycle following the pandemic [1] - FWA business has seen a year-on-year decline due to the impact of downstream overseas operators' delivery schedules, but there is a sufficient order backlog [1] - Other IoT businesses are maintaining good growth, with gradual recovery in industry applications [1] Market Position - The company ranks second globally in cellular module shipments and third in overseas markets according to ABI Research [1] - The global demand for IoT modules is expected to improve, with projections indicating that global cellular module shipments could reach 790 million units by 2029, with a market size of 9.495 billion USD [1] Financial Forecasts - The company's net profit forecasts for 2024-2026 are adjusted to 711 million, 767 million, and 912 million yuan respectively, with corresponding EPS of 0.93, 1.00, and 1.19 yuan [2] - The current stock price corresponds to a PE ratio of 11.99X for 2024, 11.11X for 2025, and 9.34X for 2026 [2]

Investment Rating - The report maintains a "Buy" rating for the company [4][6]. Core Views - The company reported a revenue of 4.075 billion yuan for the first half of 2024, representing a year-on-year growth of 5.42%. The net profit attributable to shareholders was 333 million yuan, up 10.17% year-on-year, while the net profit excluding non-recurring items was 316 million yuan, reflecting an 11.45% increase [2][6]. - Q2 revenue faced short-term pressure, primarily due to a decline in FWA (Fixed Wireless Access) business. However, the company has a sufficient order backlog and expects to achieve its growth targets [2][6]. - The company is increasing its R&D investment and expanding into new segments, which is expected to enhance profitability [2][6]. Summary by Sections Financial Performance - In H1 2024, the company achieved a net profit margin of 8.28%, an increase of 0.45 percentage points year-on-year. The operating cash flow was 338 million yuan, up 150.87% year-on-year [6]. - Q2 revenue was 1.952 billion yuan, a decrease of 4.91% year-on-year and 8.06% quarter-on-quarter [6]. R&D and Product Development - The company invested 388 million yuan in R&D in H1 2024, a year-on-year increase of 10.78%. It has accumulated 293 invention patents, 147 utility model patents, and 139 software copyrights [6]. - New products launched include the SC208 smart module and the upgraded SC171 module, compatible with Android, Linux, and Windows operating systems [6]. Market Expansion - The company is focusing on the 5G RedCap module, which is now in the commercial sample delivery stage, facilitating large-scale deployment in the IoT sector [6]. - Solutions for smart lawn mowers have been successfully implemented with multiple end customers, laying a solid foundation for further growth [6]. Future Projections - Revenue projections for 2024-2026 are 8.252 billion yuan, 8.823 billion yuan, and 10.034 billion yuan, with year-on-year growth rates of 6.95%, 6.92%, and 13.72% respectively. Net profits are expected to be 702 million yuan, 667 million yuan, and 761 million yuan, with growth rates of 24.48%, -4.97%, and 14.17% respectively [6][7].

源证券 通信/通信设备 公 司 研 究 广和通（300638.SZ） 2024 年 08 月 29 日 业绩稳步增长，智能模组及机器人业务受益 AI 发展 ——公司信息更新报告 投资评级：买入（维持） 蒋颖（分析师） jiangying@kysec.cn 证书编号：S0790523120003 开 源 证 券 证 券 研 究 报 告 公司信息更新报告 | --- | --- | |-------------------------|-------------| | 日期 | 2024/8/29 | | 当前股价 ( 元 ) | 10.84 | | 一年最高最低 ( 元 ) | 22.32/10.26 | | 总市值 ( 亿元 ) | 83.01 | | 流通市值 ( 亿元 ) | 57.63 | | 总股本 ( 亿股 ) | 7.66 | | 流通股本 ( 亿股 ) | 5.32 | | 近 3 个月换手率 (%) | 275.7 | 股价走势图 -60% -40% -20% 0% 20% 2023-08 2023-12 2024-04 2024-08 广和通 沪深300 数据来源：聚源 相关研究报告 《出售 ...

Investment Rating - The report maintains a "Buy" rating for the company, expecting a price increase of over 15% in the next 6-12 months [2][9]. Core Insights - In H1 2024, the company achieved revenue of 4.075 billion RMB, a year-on-year increase of 5.42%, and a net profit attributable to shareholders of 333 million RMB, up 10.17% year-on-year [2]. - The company is focusing on enhancing its R&D capabilities and expanding its product line in emerging fields such as AI, edge computing, and intelligent robotics [2]. - The company sold its vehicle-mounted wireless communication module business for 150 million USD to adapt to the complex international market environment, while still planning to invest in communication modules in Europe and the US [2]. - Future growth is anticipated in the AI and robotics sectors, with the establishment of dedicated product lines and increased R&D investment [2]. Summary by Sections Financial Performance - In Q2 2024, the company reported a revenue of 1.952 billion RMB, a decrease of 4.91% year-on-year and 8.06% quarter-on-quarter, with a net profit of 146 million RMB, down 10.27% year-on-year and 22.50% quarter-on-quarter [2]. - The gross margin for H1 2024 was 21.58%, a slight decrease of 0.56 percentage points year-on-year, while the net margin increased by 0.35 percentage points to 8.18% [2]. - R&D expenditure in H1 2024 was 388 million RMB, a 10.78% increase compared to the same period last year [2]. Business Strategy - The company is actively expanding into the AI and robotics sectors, having established a smart module product line in 2019 and a smart computing product line in 2023 [2]. - The focus on the Indian market has shown promising results, with expectations for significant progress in this region [2]. Revenue and Profit Forecast - Projected revenues for 2024, 2025, and 2026 are 8.183 billion RMB, 8.923 billion RMB, and 10.530 billion RMB, respectively, with corresponding net profits of 710 million RMB, 638 million RMB, and 766 million RMB [2]. - The expected price-to-earnings ratios for these years are 12, 13, and 11 times, respectively [2].