Investment Rating - The report assigns a rating of "Accumulate" for the company [4]. Core Insights - The company achieved record high revenue and profit in 2024, with operating income reaching 2.76 billion yuan, a year-on-year increase of 11.23%, and net profit attributable to shareholders at 196 million yuan, up 61.44% [1][12]. - The company has maintained six consecutive years of revenue growth, with a compound annual growth rate of 30.49% since 2019, indicating a strong recovery from the industry downturn in 2022 [1][12]. - The company's refined management practices have led to significant improvements in operational efficiency, with accounts receivable turnover days and inventory turnover days significantly lower than industry averages [2][22]. Summary by Sections 1. Sustained Precision and Industry Leadership - The company has effectively captured market demand, maintaining high capacity utilization and sales rates, particularly in high-end products such as high-efficiency lighting and automotive lighting [1][14]. - The gross margin of the main business has increased to 24.99%, reflecting a 6.78% year-on-year growth, showcasing the impact of refined management on profitability [2][22]. 2. Strong Growth in MLED Market - The company is transitioning to a full-color LED chip supplier, with the completion of a project to produce 2.4 million red and yellow light epitaxial wafers and chips, enhancing its product offerings [3][24]. - The Mini LED market is expected to see significant growth, with the company's revenue from Mini LED products projected to increase by 390.40% year-on-year in 2024, benefiting from a surge in domestic Mini LED TV sales [3][25][28]. 3. Investment Recommendations - The report has revised revenue forecasts for 2025 and 2026 to 3.368 billion yuan and 3.975 billion yuan, respectively, and expects revenue to reach 4.651 billion yuan in 2027 [7][32]. - Earnings per share (EPS) estimates have been adjusted to 0.40 yuan and 0.52 yuan for 2025 and 2026, respectively, with a projected EPS of 0.68 yuan for 2027 [7][32].

证券代码：300708 证券简称：聚灿光电 公告编号：2025-028 截至本公告日，公司及子公司在过去十二个月内除第一项披露事项外，其他 使用闲置募集资金进行现金管理的情况如下： | 序 | 购买主体 | 签约单位 | 产品 | 产品类型 | 金额 | 产品 | 产品 | 年化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | | | 名称 | | （万元） | 起始日 | 到期日 | 收益率 | | | 聚灿光电科 技（宿迁） | 兴业银行股 | 结构 性存 | 保本浮动 | | | | 1.5%或 | | 1 | | 份有限公司 | | 收益型 | 5,000.00 | 2024/10/10 | 2025/4/8 | 2.43% | | | 有限公司 | | 款 | | | | | | | | 聚灿光电科 | | 结构 | | | | | 1.3%或 | | 2 | 技（宿迁） | 兴业银行股 份有限公司 | 性存 | 保本浮动 收益型 | 7,000.00 | 2024/12/5 | 2025/3/12 | | | | 有限 ...

证券代码：300708 证券简称：聚灿光电 公告编号：2025-027 聚灿光电科技股份有限公司 2024 年年度权益分派实施公告 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、公司回购专用证券账户中的股份32,831,660.00股不参与本次权益分派。本 公司2024年 年度 权 益分 派方 案为 ： 以 公司 现有 总股 本剔 除已 回购 股份 32,831,660.00股后的643,380,186.00股为基数，向全体股东每10股派1.600000元人 民币现金 ， 实 际 派 发 现 金 分 红 总 额 =643,380,186.00 股 × 1.60 元 /10 股 = 102,940,829.76元（含税）。 一、股东大会审议通过权益分派方案情况 1、公司于2025年2月17日召开2024年年度股东大会，审议通过了《关于2024 年年度利润分配预案的议案》。公司2024年年度权益分派方案为：以公司实施利 润分配方案时股权登记日的总股本剔除已回购股份为基数，向全体股东每10股派 发现金股利1.6元人民币（含税），送红股0股（含税）， ...

中信证券股份有限公司 关于聚灿光电科技股份有限公司 2025年度持续督导培训情况的报告 深圳证券交易所： 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）根据《深圳 证券交易所上市公司自律监管指引第 13 号——保荐业务》对聚灿光电科技股份 有限公司（以下简称"聚灿光电"或"公司"）进行了 2025 年度持续督导培训， 报告如下： 一、本次持续督导培训的基本情况 （二）培训地点：苏州工业园区月亮湾路 15 号中新大厦 32 楼聚灿光电会议 室（及视频会议系统） （三）培训人员：林琳、施纯利 （四）培训对象：公司控股股东及实际控制人、董事、监事、高级管理人员、 中层以上管理人员等相关人员 （五）培训内容：本次培训结合《证券发行上市保荐业务管理办法》《深圳 证券交易所创业板股票上市规则（2024 年修订）》《深圳证券交易所上市公司自 律监管指引第 2 号——创业板上市公司规范运作（2023 年 12 月修订）》等规则 要求，重点向培训对象介绍了最新监管态势、持续督导工作要求、上市公司信息 披露、募集资金运用管理要求、关联方交易行为规范、信息披露注意事项等相关 规定，并辅以案例说明的形式，加深了公司控股股东 ...

聚灿光电科技股份有限公司（以下简称"公司"或"母公司"）近日收到全资子 公司聚灿光电科技（宿迁）有限公司（以下简称"聚灿宿迁"）2024年度分红款 12,214.23万元。 证券代码：300708 证券简称：聚灿光电 公告编号：2025-026 聚灿光电科技股份有限公司 关于收到全资子公司分红款的公告 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。 聚灿宿迁为公司纳入合并报表范围内全资子公司，公司持有其100%的股份， 根据其公司章程并经股东决定，经容诚会计师事务所（特殊普通合伙）审计，以 截至2024年12月31日财务报告未分配利润为基数，向公司派发现金股利12,214.23 万元。 上述利润分配将增加公司2025年度母公司报表净利润，但不增加公司2025 年度合并报表净利润，因此，不会影响2025年度公司整体经营业绩。 敬请广大投资者注意投资风险。 特此公告。 聚灿光电科技股份有限公司 董事会 二〇二五年二月二十五日 ...

Group 1 - As of February 25, 7 companies have released their 2024 annual reports, with 5 companies showing a year-on-year increase in net profit [1] - 6 companies reported a year-on-year increase in operating revenue, while 1 company experienced a decline [1] - Companies with simultaneous growth in both net profit and operating revenue include Juzan Optoelectronics and 4 others, while Tianjin Tianshi is among the 1 company with declining profits and revenue [1]

保荐人名称：中信证券股份有限公司 （以下简称"中信证券"或"保荐人"） 被保荐公司简称：聚灿光电（300708） 保荐代表人姓名：林琳 联系电话：0591-88601207 保荐代表人姓名：张迪 联系电话：0591-88601207 现场检查人员姓名：林琳、陈文、施纯利 现场检查对应期间：2024 年 1 月 1 日-2024 年 12 月 31 日 现场检查时间：2025 年 1 月 14 日至 2025 年 2 月 20 日 一、现场检查事项 现场检查意见 （一）公司治理 是 否 不适用 现场检查手段： （1）查阅公司现行治理规则和内控制度，查阅公司章程、股东大会、董事会、 监事会议事规则等公司基本制度，查阅了股东大会、董事会及监事会会议相关资 料； （2）向公司相关部门人员了解公司基本制度的执行情况，了解公司董事、监事 和高级管理人员履行职务勤勉尽责情况及变动情况，了解控股股东、实际控制人 持有公司股份的变化情况及遵守相关法律法规情况； （3）访谈上市公司高级管理人员。 1.公司章程和公司治理制度是否完备、合规 是 2.公司章程和三会规则是否得到有效执行 是 3.三会会议记录是否完整，时间、地点、出席人 ...

中信证券股份有限公司 关于聚灿光电科技股份有限公司 2024年度跟踪报告 | 保荐人名称：中信证券股份有限公司 | 被保荐公司简称：聚灿光电（300708） | | --- | --- | | 保荐代表人姓名：林琳 | 联系电话：0591-88601207 | | 保荐代表人姓名：张迪 | 联系电话：0591-88601207 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 无 | | 2．督导公司建立健全并有效执行规章制度的情况 | | | （1）是否督导公司建立健全规章制度（包括但不 | | | 限于防止关联方占用公司资源的制度、募集资金 | 是 | | 管理制度、内控制度、内部审计制度、关联交易 | | | 制度） | | | （2）公司是否有效执行相关规章制度 | | | | 是，根据聚灿光电科技股份有限公司（以下简 称"聚灿光电"）内部控制自我评价报告、 | | | 2024年度内部控制审计报告，发行人有效执行 | | | 了相关规章 ...

Group 1: Company Strategy and Performance - The company adheres to a development strategy focused on "resource concentration and strengthening the main business," aiming to enhance core competitiveness and governance [2] - In 2024, the company achieved a revenue of CNY 2.76 billion, representing a year-on-year growth of 11.23% [3] - The net profit attributable to shareholders reached CNY 196 million, a significant increase of 61.44% compared to the previous year [3] Group 2: Market Position and Customer Engagement - The company maintains a marketing strategy that focuses on strategic, quality, and potential customers, ensuring strong business performance and market recognition [2] - As of December 31, 2024, the number of shareholders was 59,870, indicating a broad base of individual investors [5] Group 3: Financial Management and Shareholder Returns - The company plans to distribute dividends amounting to CNY 106 million, with a high payout ratio of 87.14% for 2024 [3] - A total of CNY 300 million was allocated for share repurchase, accounting for 4.86% of the total share capital, reflecting the company's commitment to enhancing shareholder value [3] Group 4: Future Outlook and Product Development - The company is transitioning to a full-color LED chip supplier, with the production of GaAs-based red and yellow light LED epitaxial wafers and chips expected to commence in 2025 [6] - The company anticipates continued strong performance in 2025, driven by the synergistic effects of red-yellow and blue-green chip production [6] Group 5: Industry Trends and Challenges - The LED industry is expected to focus on technological innovation, market expansion, and energy efficiency over the next 3-5 years, with significant growth potential in Micro/Mini LED technology and smart lighting systems [5] - The company emphasizes a long-term perspective in its operations, aiming to overcome challenges and achieve sustainable growth [4]

Financial Performance - Revenue reached 2.76 billion CNY, an increase of 11.23% year-on-year [1] - Net profit attributable to shareholders was 196 million CNY, up by 61.44% [1] - Net cash flow from operating activities was 524 million CNY, a significant increase of 160.59% [1] - Shareholder returns, including cash dividends and share buybacks, amounted to 403 million CNY, up by 280.19% [1] - Number of shareholders increased to 59,870, reflecting a growth of 24.26% [1] Business Expansion - In March 2024, the company expanded its GaAs-based red and yellow LED chip production, with partial operations expected by January 2025, transitioning to a full-spectrum LED chip supplier [1] Operational Efficiency - The company achieved a compound annual growth rate (CAGR) of 21.38% in revenue from 2019 to 2023, surpassing the industry average of 15.28% [8] - Sales collection quality is significantly higher than the industry average, with a collection ratio of 116.19% compared to 88.35% for peers [12] - The company maintains high operational metrics, with accounts receivable turnover days and inventory turnover days outperforming industry averages [15] Production and Sales Dynamics - The company consistently operates at high capacity utilization rates, with production and sales remaining robust [21] - The production capacity utilization rate has been above 97% from 2020 to 2024, indicating strong demand and operational efficiency [20] Future Outlook - The company plans to focus on resource allocation and strengthen its core business, particularly in the red and yellow light project, to solidify its second growth curve [22] - Anticipated support from national policies and the ongoing penetration of the new energy market is expected to accelerate commercialization processes [22]