证券代码：300680 证券简称：隆盛科技 公告编号：2024-056 无锡隆盛科技股份有限公司 关于2023年限制性股票激励计划 首次授予部分第一个归属期归属结果暨股份上市的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容： 1、本次归属股票的上市流通日：2024年11月19日； 2、本次归属股票的数量：73.89万股，占公司目前总股本的0.32%； 3、本次归属限制性股票人数：104人； 4、本次归属价格：11.28元/股（调整后）； 5、本次归属限制性股票来源：公司从二级市场回购的公司A股普通股股票。 无锡隆盛科技股份有限公司（以下简称"公司"）2023年限制性股票激励计划（ 以下简称"本激励计划"）规定的第一个归属期归属条件已经成就，根据公司2023年 第一次临时股东大会的授权，公司于2024年11月1日分别召开第五届董事会第三次会 议和第五届监事会第三次会议，审议通过《关于2023年限制性股票激励计划首次授予 部分第一个归属期归属条件成就的议案》，近日公司已完成本激励计划第一个归属期 股份的归属工作，现将有关事项说明如下： 一、本激励计划简 ...

Summary of Conference Call on Longsheng Technology Company Overview - Longsheng Technology initially focused on commercial vehicle paint and has expanded into the electric motor core market since 2018, achieving significant growth in this sector post-2020 [1][2] - The company has established a strong presence in both traditional and new energy vehicle markets, with a notable increase in electric motor core business [2] Financial Performance - Longsheng Technology is projected to achieve over 50% growth in revenue this year, reaching approximately 230 million [2] - Forecasts indicate that by 2025, revenue could exceed 300 million with a profit margin surpassing 30% [2][9] - Current valuation is around 20 times earnings, suggesting potential for further valuation expansion [2][9] Strategic Partnerships and New Ventures - On November 1, Longsheng announced a partnership with Chongqing Maomao Automotive Drive Company, focusing on deepening collaboration with the Seris brand, particularly in electric motor core supply [3][4] - The partnership aims to expand into semi-assembly products, increasing the average transaction value from approximately 500-600 to 1,500-2,000 [4] - In March, Longsheng formed a strategic alliance with Galaxy Aerospace, which specializes in low-cost, high-performance satellite communications [5] - This collaboration is expected to enhance Longsheng's core capabilities and open new growth avenues in the aerospace sector [5] Emerging Business Areas - Longsheng is exploring humanoid robotics, with plans to develop precision manufacturing applications and optimize production processes [6][7] - The company aims to achieve high precision in robotic applications, targeting a positioning accuracy of better than 0.1 mm [6] - Longsheng is also involved in commercial aerospace, focusing on satellite attitude control mechanisms, which are critical for satellite operation [7][8] Core Competencies - Longsheng's strength lies in its precision manufacturing capabilities, which are applicable across various sectors, including automotive and aerospace [10] - The company has a solid foundation in large-scale production, cost efficiency, and high-quality standards, which are essential for its automotive and aerospace operations [10] - The ability to leverage precision processing across different applications is a key competitive advantage for Longsheng [10] Future Outlook - Longsheng's rapid growth trajectory and diverse business expansions indicate a promising future, with ongoing developments in humanoid robotics and aerospace [11] - The company is well-positioned to capitalize on emerging market opportunities while maintaining a strong focus on its core competencies [11]

Key Points Industry and Company Involved - **Industry**: Automotive, Electric Vehicles (EVs), Precision Engineering - **Company**: Longsheng Technology Core Views and Arguments - **Main Themes**: Huawei supply chain and Tesla supply chain - **Longsheng Technology's Position in Huawei Supply Chain**: Direct involvement in the Huawei supply chain, with potential extensions to humanoid robots and low-altitude industries - **Growth Drivers**: - **Traditional Motor Iron Core**: Rapid and sustained growth due to the surge in new vehicle sales - **ECR Business**: Strong growth potential in the hybridization trend, especially in low-line cities and northern markets - **Precision Engineering Platform**: Enables expansion into new areas like humanoid robots and low-orbit micro-satellites - **Strategic Collaborations**: - **Joint Venture with Moming Auto Drive**: 51% stake by Longsheng Technology, focusing on motor iron core and potential extensions to powertrains - **Strategic Cooperation with Weiyin Zhongjia**: Collaboration on satellite energy modules, communication modules, and control modules, leveraging Weiyin Zhongjia's design and manufacturing capabilities Other Important Points - **Historical Growth**: - **Motor Iron Core**: Significant growth since 2020, driven by new vehicle sales - **ECR Business**: Initially focused on commercial vehicles, now expanding to passenger cars - **Valuation**: - 2024 expected revenue: 2.3 billion yuan, with a 50% growth compared to the previous year - 2025 expected revenue: Over 3 billion yuan, with a 30% growth - Current valuation: Approximately 20 times forward earnings - **Long-term Prospects**: - Continued growth in traditional motor iron core and ECR business - Expansion into new areas like humanoid robots and low-orbit micro-satellites - Significant potential for valuation expansion based on growth and valuation matching

Investment Rating - The report maintains a "Buy" rating for Longsheng Technology [5] Core Views - The company plans to establish a joint venture in Chongqing, which is expected to enhance its collaboration with Seres in depth and breadth [1] - The joint venture will focus on the production of components for electric drive systems, particularly motor cores, which have seen significant growth since the establishment of its wholly-owned subsidiary, Longsheng New Energy [2] - The investment aims to transition the company's product offerings from components to semi-assemblies, thereby increasing product value and core competitiveness [2] Summary by Sections Business Overview - Longsheng Technology's products are primarily used in energy-saving and emission-reduction fields, including EGR systems, motor cores, natural gas injection systems, and precision components [2] - The EGR products are mainly applied in commercial vehicles and new energy vehicles, while motor cores are essential components in electric drive systems for new energy vehicles [2] Investment Purpose and Impact - Since entering the new energy sector in 2018, the company has made significant progress in energy power systems, electric drive systems, electronic control systems, and intelligent driving systems [2] - The establishment of the joint venture is expected to strengthen customer development and align with the company's overall business strategy, particularly in collaboration with Seres for various vehicle models [2] Financial Forecast and Valuation - Projected revenues for 2024-2026 are estimated at 26.61 billion, 33.47 billion, and 40.67 billion, representing year-over-year growth of 45.6%, 25.8%, and 21.5% respectively [3] - Expected net profits for the same period are forecasted at 2.38 billion, 3.15 billion, and 3.98 billion, with year-over-year growth rates of 61.9%, 32.6%, and 26.2% [3] - Earnings per share (EPS) are projected to be 1.03, 1.36, and 1.72 yuan, with corresponding price-to-earnings (P/E) ratios of 25.91, 19.54, and 15.48 [3][4]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's revenue for the first three quarters of 2024 reached 1.643 billion yuan, a year-on-year increase of 38.47%, with a net profit attributable to the parent company of 154 million yuan, up 58.22% year-on-year [1] - In Q3 2024, the company achieved revenue of 583 million yuan, a year-on-year increase of 28.84%, and a net profit of 50 million yuan, which is a remarkable increase of 100.12% year-on-year [1] - The growth in revenue and profit is primarily driven by the increase in sales of new energy vehicles from downstream customers, with significant sales growth reported by key clients such as BYD, Geely, Chery, and Tesla China [1] - The company has maintained excellent cost control, with a gross margin of 17.90% in Q3 2024, an increase of 1.17 percentage points year-on-year [1] - The company's R&D expenses reached a historical high of 25 million yuan in Q3 2024, indicating a strong commitment to long-term growth [1] Financial Summary - For the first three quarters of 2024, the company reported a net profit of 154 million yuan, with a forecasted net profit of 243 million yuan for 2024, 336 million yuan for 2025, and 410 million yuan for 2026 [2][4] - The company's revenue is projected to grow from 1.827 billion yuan in 2023 to 2.693 billion yuan in 2024, reflecting a growth rate of 47.4% [2][4] - The company's P/E ratio is expected to decrease from 34.1 in 2023 to 20.6 in 2024, indicating a lower valuation compared to peers [2][4] Market Position and Strategy - The company has established strong customer relationships in the EGR and motor core business, benefiting from the growth in new energy vehicle sales [1] - The company is actively expanding into the commercial aerospace sector, having signed a strategic cooperation agreement with Galaxy Aerospace to supply precision components [1] - The company is well-positioned to capitalize on the rapid development of the commercial aerospace industry due to its extensive experience in national aerospace projects [1]

证券代码：300680 证券简称：隆盛科技 公告编号：2024-051 票第一个归属期归属条件成就的公告 无锡隆盛科技股份有限公司 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 关于2023年限制性股票激励计划首次授予部分第二类限制性股 重要内容： 1、本次符合归属条件的激励对象人数：104人； 2、本次第二类限制性股票拟归属数量为73.89万股，占公司目前总股本的0.32%； 3、本次第二类限制性股票授予价格（调整后）：11.28元/股； 无锡隆盛科技股份有限公司（以下简称"公司"）于2024年11月1日召开第五届 董事会第三次会议、第五届监事会第三次会议，审议通过了《关于2023年限制性股票 激励计划首次授予部分第一个归属期归属条件成就的议案》，认为公司2023年限制性 股票激励计划（以下简称"本激励计划"）首次授予部分第一个归属期规定的归属条 件已经成就，本次可归属数量为73.89万股，同意为符合条件的104名激励对象办理归 属相关事宜，现将有关事项说明如下： 一、本激励计划简述及已履行的相关审批程序 （一）本激励计划简述 4、本次第二类限制性股票归属股票 ...

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 2024 年 11 月 1 日，无锡隆盛科技股份有限公司（以下简称"公司"）第五届监 事会第三次会议在公司会议室以现场表决的方式召开，会议通知于 2024 年 10 月 29 日以书面通知的方式向各位监事发出。本次会议由监事会主席沈家湖先生召集、主持， 会议应出席监事三名，实际出席监事三名。 本次会议的召集、召开符合《中华人民共和国公司法》及有关法律、法规、规章、 规范性文件及《公司章程》的有关规定。 二、监事会会议审议情况 经与会监事审议，以投票表决方式通过了以下议案： 证券代码：300680 证券简称：隆盛科技 公告编号：2024-054 无锡隆盛科技股份有限公司 第五届监事会第三次会议决议公告 市公司股权激励管理办法》《2023年限制性股票激励计划（草案修订稿）》等相关规 定，不会对公司的财务状况和经营成果产生实质性影响，不存在损害公司及全体股东 利益的情形。因此，同意作废2023年限制性股票激励计划已授予但尚未归属的限制性 股票合计4.6万股。具体内容详见公司同日披露于巨潮资讯网（ ...

无锡隆盛科技股份有限公司 监事会关于 2023 年限制性股票激励计划首次授予部分 第一个归属期归属名单的核查意见 无锡隆盛科技股份有限公司（以下简称"公司"）监事会根据《上市公司股权激 励管理办法》（以下简称《管理办法》）、《深圳证券交易所创业板股票上市规则》 （以下简称《上市规则》）等相关规定及《无锡隆盛科技股份有限公司章程》（以下 简称《公司章程》）的要求，对公司 2023 年股权激励限制性股票激励计划（以下简 称"本激励计划"）首次授予部分的第一个归属期归属名单进行核查，发表核查意见 如下： 监事会同意本次符合条件的 104 名激励对象办理归属，本次对应限制性股票的归 属数量为 73.89 万股。上述事项符合相关法律、法规及规范性文件所规定的条件，不 存在损害公司及股东利益的情形。 除 5 名激励对象因离职丧失激励对象资格，不符合归属条件，1 名激励对象自愿 放弃获授权益的资格外，公司 2023 年限制性股票激励计划第一个归属期 104 名激励 对象符合《公司法》《证券法》等法律、法规和规范性文件以及《公司章程》规定的 任职资格，符合《管理办法》《上市规则》等法律、法规和规范性文件规定的激励对 象条件， ...

证券代码：300680 证券简称：隆盛科技 公告编号：2024-052 无锡隆盛科技股份有限公司 关于作废 2023 年限制性股票激励计划部分已授予但尚未归属的 限制性股票的公告 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。 无锡隆盛科技股份有限公司（以下简称"公司"）于 2024 年 11 月 1 日召开第五 届董事会第三次会议及第五届监事会第三次会议，审议通过了《关于作废 2023 年限 制性股票激励计划部分已授予但尚未归属的限制性股票的议案》。现将具体情况公告 如下： 一、本次限制性股票激励计划已履行的相关审批程序 1、2023 年 9 月 27 日，公司召开第四届董事会第十八次会议，审议通过了《关于 公司<2023 年限制性股票激励计划（草案）>及其摘要的议案》《关于公司<2023 年限 制性股票激励计划实施考核管理办法>的议案》《关于提请股东大会授权董事会办理 股权激励相关事宜的议案》，公司独立董事就本激励计划发表了独立意见，律师、独 立财务顾问出具了相应的意见与报告。 同日，公司召开第四届监事会第十七次会议，审议通过了《关于公司<2023 年限 ...

上海市锦天城律师事务所 关于无锡隆盛科技股份有限公司 2023 年限制性股票激励计划首次授予部分第二类 限制性股票第一个归属期归属条件成就及 作废 2023 年限制性股票激励计划部分已授予 但尚未归属的限制性股票的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于无锡隆盛科技股份有限公司 2023 年限制性股票激励计划首次授予部分第二类 限制性股票第一个归属期归属条件成就及 作废 2023 年限制性股票激励计划部分已授予 但尚未归属的限制性股票的 法律意见书 致：无锡隆盛科技股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受无锡隆盛科技股份有限公 司（以下简称"公司"或"隆盛科技"）的委托，作为公司 2023 年限制性股票激励 计划（以下简称"本次股权激励计划"）的特聘专项法律顾问。 本所律师根据《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》）、中国证券监督管理委员会（ ...