Investment Rating - The report maintains an "Outperform" rating for the company, indicating a positive outlook for its stock performance relative to the market [5][6]. Core Insights - The company reported a significant increase in revenue and net profit for the first three quarters of 2024, with revenue reaching 3.33 billion yuan, a year-over-year increase of 51.2%, and net profit of 459 million yuan, up 85.4% year-over-year [5][7]. - The growth is attributed to strong demand in the consumer electronics and automotive electronics sectors, with a notable increase in shipments [5][6]. - The automotive electronics segment is highlighted as a key growth driver, with expectations for continued high growth potential [5][6]. - The report emphasizes the upcoming release of new consumer electronics products in Q4, which is expected to further boost sales [6]. Financial Summary - For 2024, the company is projected to achieve total revenue of 4.11 billion yuan, with a year-over-year growth rate of 31.5% [7]. - The net profit forecast for 2024 is 604 million yuan, reflecting a growth rate of 69.6% compared to the previous year [7]. - The report provides a detailed financial outlook for 2025 and 2026, with expected revenues of 5.36 billion yuan and 6.68 billion yuan, respectively, and net profits of 811 million yuan and 1.02 billion yuan [7][9].

Investment Rating - The report maintains a "Strong Buy" rating for the company, indicating an expectation to outperform the benchmark index by over 20% in the next six months [1][16]. Core Views - The company has shown significant growth in both consumer electronics and automotive sectors, achieving record quarterly revenue [1]. - The automotive connector market is experiencing a trend towards domestic suppliers, with the company steadily increasing its market share [1]. - The flexible circuit board business has turned profitable, with long-term growth potential anticipated [1]. - The gross margin has improved, although profit growth has lagged behind revenue growth due to increased expenses [1]. - The company is projected to achieve net profits of 621 million, 795 million, and 969 million yuan for the years 2024, 2025, and 2026 respectively [2]. Financial Summary - For the first three quarters of 2024, the company reported total revenue of 3.333 billion yuan, a year-on-year increase of 51.16%, and a net profit of 459 million yuan, up 85.36% year-on-year [1]. - In Q3 2024, revenue reached 1.189 billion yuan, reflecting a 41.5% year-on-year growth, while net profit was 151 million yuan, a 23.53% increase year-on-year [1]. - The company's gross margin for Q3 2024 was 33.6%, an increase of 1.11 percentage points from the previous quarter [1]. - The projected revenue for 2024 is 4.31 billion yuan, with a year-on-year growth rate of 37.7% [2]. Market Position - The company has established itself as a key supplier for major domestic automotive manufacturers, including Geely, Great Wall, BYD, and others, benefiting from the rapid growth of the automotive connector industry [1]. - The flexible circuit board segment is expected to see substantial growth due to increased demand from domestic smartphone brands and wearable devices [1]. Valuation - The target price for the company's stock is set at 56.30 yuan, based on a price-to-earnings ratio of 30 times for 2025 [1][3]. - The current stock price is 44.18 yuan, indicating potential upside [3]. Key Financial Metrics - The company’s total revenue is projected to grow from 3.129 billion yuan in 2023 to 4.310 billion yuan in 2024, with a compound annual growth rate of 37.7% [2]. - The net profit is expected to recover from a decline in 2023 to 621 million yuan in 2024, reflecting a growth rate of 74.2% [2]. - The earnings per share (EPS) is projected to increase from 0.84 yuan in 2023 to 1.46 yuan in 2024 [2].

特此公告。 电连技术股份有限公司（以下简称"公司"）分别于 2024 年 8 月 28 日、2024 年 9 月 19 日召开了第二届董事会第二十八次会议及 2024 年第一次临时股东大会， 会议审议通过了《关于变更公司注册资本及修订<公司章程>的议案》。公司办理完 成了 2022 年限制性股票激励计划第二类限制性股票首次授予第二个归属期及预留 授予第一个归属期的归属股份登记工作，本次第二类限制性股票归属数量为 139.98 万股，本次第二类限制性股票上市流通日为 2024 年 7 月 26 日。上述第二类限制性 股票登记完成后，公司股份总数由 422,384,900 股增加至 423,784,700 股，公司注册 资本由 422,384,900 元（以下"元"指人民币）增加至 423,784,700 元。具体内容详 见公司 于 2024 年 7 月 24 日 、 2024 年 8 月 29 日 在 巨 潮 资 讯 网 （http://www.cninfo.com.cn）披露的《关于 2022 年限制性股票激励计划第二类限制 性股票首次授予第二个归属期及预留授予第一个归属期归属结果暨股份上市的公 告》（公告编 ...

电子/消费电子 公 司 研 究 电连技术（300679.SZ） 2024 年 10 月 28 日 消费电子业务回暖，汽车电子收入高增长 ——公司信息更新报告 33.33 亿元，YoY+51.16%；归母 4.44 亿元，YoY+87.83%，毛利率 实现营收 11.89亿元，YoY+41.50%， YoY+23.53%，环比+3.60%；销售毛利率 。公司业绩持续增长，主要系 2024H2 全球消费电子 行业回暖，以及公司汽车高频高速连接器业务导入新客户景气度延续。其中 2024Q3 单季度利润增速低于营收增速原因主要系 2024Q3 在建工程转固折旧影 响及投资收益同比减少两千万所致。考虑汽车电子业务维持高增长，我们维持 2024/2025/2026 年归母净利润预测为 6.2/8.2/10.5 亿元，当前股价对应 PE 为 30.2/22.8/17.9 倍，维持"买入"评级。 | --- | --- | --- | --- | |-------------------------|-------------------|------------------------------------------- ...

Investment Rating - The report maintains a "Recommended" rating for the company [1][3]. Core Views - The company's Q3 2024 performance met expectations, with revenue of 11.89 billion yuan, a year-on-year increase of 41.50%, and a net profit of 1.51 billion yuan, up 23.53% year-on-year [1]. - The company is positioned as a leader in automotive high-speed connectors, benefiting from the increasing demand driven by the electrification and intelligence of vehicles [1]. - The consumer electronics segment is stable, while the automotive business is rapidly penetrating the market, with profits improving each quarter [1]. Financial Performance Summary - For the first three quarters of 2024, the company achieved revenue of 33.33 billion yuan, a year-on-year increase of 51.16%, and a net profit of 4.59 billion yuan, up 85.36% year-on-year [1]. - The gross margin for Q3 2024 was 33.60%, a decrease of 1.48 percentage points year-on-year, while the net margin was 13.10%, an increase of 2.52 percentage points year-on-year [1]. - The company expects net profits for 2024-2026 to be 6.50 billion yuan, 8.01 billion yuan, and 10.03 billion yuan, respectively, corresponding to price-to-earnings ratios of 30, 24, and 19 times [1][4].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company achieved a record high quarterly revenue of 1.19 billion yuan in Q3 2024, with a year-on-year growth of 42% and a quarter-on-quarter growth of 8% [2] - The significant revenue and profit growth in the first three quarters of 2024 is attributed to the increasing sales of high-margin automotive high-speed connectors and the recovery in demand for traditional RF connectors [2][3] - The company is positioned as a leading manufacturer of automotive high-speed connectors in China, benefiting from the rising penetration of advanced intelligent driving models and expanding its overseas customer base for long-term growth [2][3] Financial Performance Summary - For the first three quarters of 2024, the company reported total revenue of 3.33 billion yuan, a year-on-year increase of 51%, and a net profit attributable to shareholders of 460 million yuan, up 85% year-on-year [2] - The company's revenue forecast for 2024 is set at 4.524 billion yuan, reflecting a year-on-year growth of 44.57% [1][8] - The adjusted net profit forecasts for 2024, 2025, and 2026 are 620 million yuan, 837 million yuan, and 1.021 billion yuan, respectively, with corresponding P/E ratios of 31, 23, and 19 [3][8] Market Position and Growth Drivers - The automotive high-speed connector segment is expected to maintain high growth due to increased production rates driven by the demand for intelligent driving vehicles [2] - The consumer electronics segment is benefiting from the resurgence of Huawei and the overall industry recovery, with stable market share in RF connectors and potential growth from BTB connectors [3] - The company is actively expanding its overseas customer base, targeting leading TIER1 automotive enterprises to enhance long-term growth prospects [2][3]

Investment Rating - The report maintains a "Buy-A" investment rating for the company with a target price of 52.15 CNY, which corresponds to a dynamic P/E ratio of 35.00x for 2024 [4][5]. Core Insights - The company reported a revenue of 3.333 billion CNY for the first three quarters of 2024, representing a year-on-year growth of 51.16%. The net profit attributable to shareholders reached 459 million CNY, up 85.36% year-on-year [1]. - In Q3 2024 alone, the company achieved a revenue of 1.189 billion CNY, a 41.50% increase year-on-year and a 7.66% increase quarter-on-quarter. The net profit for the same quarter was 151 million CNY, reflecting a year-on-year growth of 23.53% [1]. - The growth in the automotive connector business is attributed to the recovery of gross margins and rapid revenue growth, with a gross margin of 33.60% in Q3 2024, an increase of 1.12 percentage points from the previous quarter [1]. Summary by Sections Automotive Business - The penetration rate of smart connected vehicles has significantly increased, with L2 level new car penetration at 55.7% in the first half of the year. The development of L3 and above smart connected vehicles is expected to drive growth in the automotive high-speed connectors and related electronic components [2]. - The company's automotive electronic connector products include RF Fakra connectors, HD camera connectors, high-speed Ethernet connectors, and vehicle USB connectors, which have been successfully integrated into the supply chains of major domestic automakers such as Geely, Great Wall, BYD, Changan, Chery, and Li Auto [2]. Consumer Electronics - The smartphone market is showing signs of recovery, with global smartphone shipments increasing by 7.8%, 9.0%, and 4.0% in Q1 to Q3 2024, respectively. The company's consumer electronics products include micro electrical connectors and RF BTB products, which are critical components in Sub-6G frequency smart devices [3]. - The global BTB market is valued at approximately 12.2 billion USD in 2023, with a projected CAGR of 5.45% from 2023 to 2029. The company's BTB products are gaining market penetration, particularly among Android smartphone manufacturers [3]. Financial Projections - Revenue growth rates for the company are projected at 40.9%, 23.5%, and 22.7% for 2024, 2025, and 2026, respectively. Net profit growth rates are expected to be 77.3%, 31.5%, and 28.2% for the same periods [4]. - The company's financial forecasts indicate a steady increase in revenue and net profit, with net profit expected to reach 631.5 million CNY in 2024, 830.5 million CNY in 2025, and 1.064 billion CNY in 2026 [7].

Investment Rating - The report maintains a "Buy" rating for the company [4]. Core Insights - The company achieved a record high revenue of 11.9 billion yuan in Q3 2024, representing a year-on-year increase of 41% and a quarter-on-quarter increase of 8% [2][6]. - The net profit attributable to shareholders reached 1.5 billion yuan in Q3 2024, up 24% year-on-year and 4% quarter-on-quarter [2][6]. - The automotive and consumer electronics sectors are entering a peak season in Q4, with new models and products from major clients expected to drive further growth [2][6]. Summary by Sections Financial Performance - In the first three quarters of 2024, the company reported a total revenue of 33.3 billion yuan, a 51% increase year-on-year, and a net profit of 4.6 billion yuan, an 85% increase year-on-year [6]. - The Q3 revenue of 11.9 billion yuan marks the highest quarterly revenue ever, driven by strong performance in automotive and consumer electronics [6]. - Major automotive clients such as Hongmeng Zhixing, Chery, Geely, and BYD saw significant sales increases, contributing to the company's growth [6]. Business Segments - The automotive electronics segment continues to grow, with Q3 revenue reaching a new high [6]. - The consumer electronics segment is also expected to benefit from the upcoming peak season, with key clients like Huawei and Xiaomi showing positive trends in smartphone shipments [6]. Future Outlook - The company forecasts revenues of 43.3 billion yuan, 55.5 billion yuan, and 67.9 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 38%, 28%, and 22% [6]. - Net profits are projected to be 6.4 billion yuan, 8.6 billion yuan, and 11.0 billion yuan for the same years, with growth rates of 80%, 34%, and 28% [6].

电连技术股份有限公司 舆情管理制度 第一章 总则 第一条 为了提高电连技术股份有限公司（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、 公司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 相关法律法规的规定和《公司章程》，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； （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。 第二章 舆情管理的组织体系及其工作职责 第四条 公司应对各类舆情（尤其是媒体质疑危机时）实行统一领导、统一 组织、快速反应、协同应对。 第五条 公司成立应对舆情处理工作领导小组（ ...

证券代码：300679 证券简称：电连技术 公告编号：2024-050 电连技术股份有限公司 第三届董事会第二十九次会议决议公告 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 电连技术股份有限公司（以下简称 "公司"）第三届董事会第二十九次会议于 2024年10月25日上午10:30在公司会议室以现场加通讯表决的方式召开，会议通知已 于2024年10月21日以书面、电子邮件方式送达全体董事。本次董事会应参与表决董 事7人，实际参与表决董事7人。会议由公司董事长陈育宣先生主持，公司全体监事、 高级管理人员列席了会议。本次会议的召开符合法律、行政法规、部门规章和《电 连技术股份有限公司章程》（以下简称"《公司章程》"）等相关规定。 二、董事会会议审议情况 （一）审议通过《关于2024年第三季度报告的议案》 公司董事会认为：公司编制《2024 年第三季度报告》的程序符合法律、法规和 中国证监会的规定，报告内容真实、准确、完整地反映了公司的财务状况和经营成 果，不存在虚假记载、误导性陈述或重大遗漏。 具体内容详见公司同日在巨潮资讯网（http ...