证券代码：300752 证券简称：隆利科技 公告编号：2025-030 深圳市隆利科技股份有限公司 关于注销 2024 年股票期权激励计划部分股票期权的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚假记载、误导 性陈述或者重大遗漏。 一、会议召开情况 深圳市隆利科技股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日召开第三届董 事会第十七次（临时）会议和第三届监事会第十七次（临时）会议，审议通过《关于注销 2024 年股票期权激励计划部分股票期权的议案》，根据《上市公司股权激励管理办法》《深圳证 券交易所创业板上市公司自律监管指南第 1 号—业务办理》《2024 年股票期权激励计划（草 案）》的有关规定，决定注销 2024 年股票期权激励计划（以下简称"本激励计划"）授予 的部分股票期权共计 48.15 万份，有关情况如下： 2、2024 年 3 月 5 日至 2024 年 3 月 15 日，公司对本激励计划授予的激励对象姓名及职 务在公司内部宣传栏进行了公示，在公示期内，公司监事会未收到任何与本次激励计划激励 对象名单有关的异议。2024 年 3 月 15 日，公司披 ...

Financial Performance - The company's revenue for Q1 2025 was CNY 340,726,804.30, representing a 15.18% increase compared to CNY 295,823,910.97 in the same period last year[5] - Net profit attributable to shareholders was CNY 30,609,410.87, a significant increase of 51.88% from CNY 20,153,705.28 year-on-year[5] - The basic earnings per share increased by 55.56% to CNY 0.14 from CNY 0.09 in the same quarter last year[5] - Total operating revenue for the current period reached ¥340,726,804.30, an increase of 15.1% compared to ¥295,823,910.97 in the previous period[32] - Net profit for the current period was ¥30,609,048.09, representing a 51.6% increase from ¥20,153,300.53 in the previous period[33] - The total comprehensive income for the current period was ¥31,954,337.65, compared to ¥20,394,018.30 in the previous period, reflecting a growth of 56.5%[33] Cash Flow - The net cash flow from operating activities decreased by 104.35%, resulting in a negative cash flow of CNY -8,672,408.19 compared to CNY 199,162,982.18 in the previous year[5] - Operating cash flow decreased to -8,672,408.19 from 199,162,982.18, indicating a significant decline in cash generation from operations[34] - Total cash inflow from investment activities was 150,491,792.45, up from 135,421,643.84, reflecting a 5.93% increase[35] - Net cash flow from investment activities improved to -34,365,791.77 from -66,986,169.26, showing a reduction in cash outflow by 48.66%[35] - Cash and cash equivalents at the end of the period decreased to 308,454,978.27 from 415,731,284.38, a decline of 26.00%[35] - The company’s net cash flow from operating activities was negative, indicating challenges in maintaining positive cash flow from core operations[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,014,592,286.69, reflecting a 1.79% increase from CNY 1,979,247,497.98 at the end of the previous year[5] - Total liabilities rose to ¥824,736,847.42, up from ¥798,752,446.18, indicating a 3.2% increase[31] - The equity attributable to shareholders of the parent company reached ¥1,189,383,268.34, a slight increase from ¥1,180,022,518.09[31] Operating Costs - The company reported a 15.26% increase in operating costs, aligning with the growth in sales revenue[15] - Total operating costs amounted to ¥317,146,330.76, up 14.5% from ¥277,073,869.51 in the prior period[32] Investments and Financing - Investment activities generated a net cash flow increase of 48.70%, attributed to a reduction in cash paid for investments[18] - The company received 5,000,000.00 in cash from borrowings, marking a new source of financing[35] - Cash outflow from financing activities totaled 36,892,126.90, compared to 25,826,703.46 in the previous period, indicating an increase of 42.00%[35] Shareholder Information - The company announced a share repurchase plan on January 13, 2025, indicating a commitment to returning value to shareholders[23] - The company has disclosed the shareholding status of its top shareholders, with Wu Xinli holding 41.68% of the total shares, indicating a strong insider ownership[21] Research and Development - Research and development expenses for the current period were ¥19,313,989.08, an increase of 16.7% from ¥16,569,047.07 in the previous period[32] Other Information - The company has obtained a high-tech enterprise certificate, which may enhance its market competitiveness and innovation capabilities[27] - The company is preparing for a performance forecast for the fiscal year 2024, which may provide insights into future growth expectations[25] - The company has no other non-recurring profit and loss items beyond those reported[8] - The company reported a credit impairment loss of ¥5,675,923.28, compared to a gain of ¥4,716,811.16 in the prior period[33] - Other comprehensive income after tax for the current period was ¥1,345,289.56, up from ¥240,717.77 in the previous period[33] - The company reported a significant increase in prepayments, which rose to ¥804,266.28 from a previous amount of zero, indicating a new strategy in managing cash flow[29] - Contract liabilities increased by 413.90%, primarily due to an increase in advance payments from customers[12] - Inventory shares grew by 455.21% as a result of the company's share repurchase activities[13]

Financial Performance - The company's operating revenue for 2024 reached ¥1,320,131,909.64, representing a 28.64% increase compared to ¥1,026,254,682.16 in 2023[18]. - Net profit attributable to shareholders increased by 132.90% to ¥106,376,207.94 in 2024, up from ¥45,673,970.56 in 2023[18]. - The net profit after deducting non-recurring gains and losses surged by 1,813.63% to ¥93,577,338.84 in 2024, compared to ¥4,890,050.31 in 2023[18]. - The net cash flow from operating activities improved significantly to ¥347,652,233.67, a 330.75% increase from -¥150,662,156.74 in 2023[18]. - Basic and diluted earnings per share both rose to ¥0.47, reflecting a 123.81% increase from ¥0.21 in 2023[18]. - Total assets at the end of 2024 were ¥1,979,247,497.98, a 10.48% increase from ¥1,791,428,797.84 at the end of 2023[18]. - The company achieved an operating revenue of approximately 1.32 billion yuan and a net profit attributable to shareholders of 106.38 million yuan, representing a year-on-year growth of 132.9%[65]. - The company's total revenue for 2024 reached approximately ¥1.32 billion, representing a year-over-year increase of 28.64% compared to ¥1.03 billion in 2023[77]. Business Strategy and Development - The company has established a diversified business layout, including core businesses in mobile devices and automotive displays, as well as emerging sectors like AR/VR displays[38]. - The company is actively pursuing international development strategies, enhancing its reputation and fostering collaborations with top global firms to drive innovation[46]. - The company is expanding its business into new areas such as AR/VR displays and precision components, indicating a forward-looking growth strategy[50]. - The company aims to leverage new technologies like Micro-LED and LIPO to enhance product performance and reliability, further broadening its application fields[55]. - The company is committed to continuous innovation and technology development, enhancing its competitive strength in the display business[51]. - The company is actively exploring new strategies in the LCD display sector and has outlined its development goals for 2024[139]. - The company is focusing on market expansion and potential mergers and acquisitions to enhance its competitive position[139]. Research and Development - The company has applied for a total of 543 patents, including 155 invention patents, and has been granted 417 patents, with 50 being invention patents[56]. - The company increased R&D spending by 7.75% year-on-year, focusing on Mini-LED, Micro-LED, and OLED technologies[65]. - Research and development (R&D) expenditure amounted to ¥56,199,358.91 in 2024, representing 4.26% of total revenue, down from 5.08% in 2023[95]. - The number of R&D personnel increased by 12.42% to 344 in 2024, while the proportion of R&D staff to total employees decreased by 2.35%[95]. - The company is committed to ongoing research and development of new products and technologies to drive future growth[139]. Market Outlook - The company anticipates that AI will drive significant growth in the consumer electronics market, particularly in mobile devices[28]. - The automotive sector is projected to see a 4.5% increase in sales, with new energy vehicle sales expected to grow by 35.5% in 2024, enhancing the demand for in-car displays[29]. - The company provided a positive outlook for 2024, highlighting plans for market expansion and new product development in Mini-LED technology[141]. - The company is focusing on the development of Mini-LED backlight technology for automotive displays, which is expected to enhance market competitiveness[144]. - The company is exploring new strategies for market expansion, including potential mergers and acquisitions in the technology sector[143]. Corporate Governance - The company has a complete independent business system and operational capabilities, ensuring no reliance on the controlling shareholder's assets for production and operation[151]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[149]. - The company has a fully independent financial department, adhering to the Accounting Law and accounting standards, with no shared bank accounts with shareholders[152]. - The company maintains a transparent information disclosure system, ensuring timely and accurate communication with investors[149]. - The management team, including the general manager and other senior executives, strictly follows the company's regulations and board resolutions[149]. Risk Management - The company faces risks from intensified market competition, but plans to strengthen cooperation with existing major clients and explore new application areas to maintain its competitive edge[132]. - The company is addressing the risk of declining product prices by improving production technology, increasing efficiency, and expanding into new application fields such as automotive and gaming displays[133]. - The emergence of new technologies like OLED poses a risk to the company's LCD backlight module business, prompting the company to invest in R&D for OLED and Micro-LED technologies[134]. - The company is affected by US-China trade tensions, particularly in its smartphone and laptop segments, and is working to diversify its client base and expand into new markets[138]. Shareholder Engagement - The company held its first temporary shareholders' meeting on March 20, 2024, with an investor participation rate of 43.25%[155]. - The annual shareholders' meeting for 2023 took place on May 16, 2024, with a participation rate of 43.18%[155]. - The company is focused on maintaining a high level of shareholder engagement, as evidenced by the participation rates in its meetings[155]. - The company plans to provide detailed insights into its performance metrics and strategic initiatives in the upcoming investor relations activities[140]. Dividend Policy - The company reported a negative distributable profit for the 2023 fiscal year, thus not meeting the conditions for cash dividends[196]. - The company plans to issue 7 million stock options to 97 incentive targets as part of the 2024 stock option incentive plan[198]. - The company will not distribute cash dividends or issue new shares from capital reserves for the current year, focusing instead on long-term development and risk management[197].

公司报告 | 首次覆盖报告 隆利科技（300752） 证券研究报告 传统业务修复性增长，OLED 新业务开启第二成长曲线 隆利科技成立于 2007 年 8 月 16 日，主要从事 LED 背光显示模组开发、生产和销售。隆利科技盈利能力强劲， 2021-2023 年，受行业下行周期影响，公司营收承压，但管理层及时调整发展战略，2023 年公司归母净利润4567.40 万元，实现了扭亏为盈。 2024 年上半年，公司盈利能力进一步提高，归母净利润达到 5008.41 万元。2023 年， 公司销售费率/管理费率/财务费率分别同比下降 7.78%/50.48%/70.60%，综合毛利率从 6.4%提升至 13.06%，改善 显著。公司坚持科技创新，2021-2023 年，研发费用占营收比重分别为5.29%/6.72%/5.08%。截至 2024 年 6 月 30 日，公司在 Mini-LED 相关领域有效申请专利共计 167 项。 隆利科技专注于 Mini LED背光模组的设计、封装及生产，是中游环节的重要参与者。Mini LED 背光模组具有高亮 度、可实现超大尺寸、成本低等多项优势，已大规模替代 LCD 显示产 ...

Investment Rating - The report assigns a "Buy" rating for the company with a target price of 27.6 CNY, indicating a potential upside from the current price of 18.16 CNY [5]. Core Views - The company has shown a strong recovery in profitability, achieving a net profit of 45.67 million CNY in 2023, compared to a loss in previous years, and is expected to continue this upward trend with projected profits of 103.46 million CNY in 2024 [4][25]. - The Mini LED backlight module market is expected to grow significantly, with the market projected to reach 125 billion CNY by 2026, driven by the technology's advantages over traditional LCD displays [2][4]. - The company has established a strong competitive position in the Mini LED backlight module industry, leveraging its technological advancements and a stable customer base [2][4]. Summary by Sections Company Overview - The company, established in 2007, specializes in the development, production, and sales of LED backlight display modules and has transitioned to focus on OLED narrow bezel technology [13][16]. - The company has formed partnerships with major players in the display industry, including BOE and TCL, and has maintained a leading position in the domestic LED backlight market [13][16]. Financial Performance - The company experienced revenue declines from 2021 to 2023 due to industry downturns but managed to turn a profit in 2023 with a net profit of 45.67 million CNY [4][25]. - The gross margin improved significantly from 6.4% in 2022 to 13.06% in 2023, reflecting effective cost management and operational efficiency [28][25]. Mini LED Business - The company is a key player in the Mini LED backlight module design and manufacturing segment, with a focus on technological innovation and cost reduction [2][34]. - The global Mini LED market is expanding rapidly, with significant growth expected in various applications, including consumer electronics and automotive displays [2][40]. OLED Narrow Bezel Technology - OLED technology is becoming the mainstream choice for small-sized displays, with a projected global penetration rate of 55% in smartphones by 2024 [3]. - The company has early investments in LIPO technology, which enhances the performance and reliability of OLED displays, positioning it well for future growth [3][4]. Investment Outlook - The report forecasts revenue growth for the company, projecting revenues of 12.98 billion CNY in 2024, 17.01 billion CNY in 2025, and 21.21 billion CNY in 2026 [4]. - The company is expected to achieve net profits of 1.03 billion CNY in 2024, 2.07 billion CNY in 2025, and 3.07 billion CNY in 2026, indicating strong growth potential [4].

LIPO 趋势受益标的：隆利科技、德邦科技 20250409 2025-04-11 摘要 • LIPO（低压注塑成型）技术作为一种手机屏幕封装技术，通过光敏树脂液 态封装，可实现超窄边框和等边效果，提升防水性能和跌落牢固性，尽管 增加封装成本 20-30 元，但减少了点胶、检测排线等工序成本。 • 苹果于 2021 年率先应用 LIPO 技术于 Apple Watch，2023 年引入 iPhone 15 Pro 系列，安卓机型预计 2025 年迎来快速渗透期，OPPO、 小米等品牌已积极跟进，市场反馈良好，预示着 LIPO 技术在安卓市场的 巨大潜力。 • OLED 封装技术主要应用于中小尺寸智能终端，预计 2025 年全球中小尺 寸 OLED 智能终端总销量将超过 11 亿台，其中智能手机约为 6.6 亿部， 智能穿戴设备约为 1.51 亿部，市场基数庞大。 • 预计 2025 年至 2028 年，OLED 封装技术在智能手机领域的渗透率将逐 步提升，分别达到 12%、25%、40%和 55%，预示着相关产业链企业将 迎来巨大的市场空间。 • 投资机会集中在封装工艺（隆利科技）和光敏树脂材料（德邦科技）两 ...

深圳市隆利科技股份有限公司 关于回购公司股份的进展公告 证券代码：300752 证券简称：隆利科技 公告编号：2025-014 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚假记载、误导 性陈述或者重大遗漏。 深圳市隆利科技股份有限公司（以下简称"公司"）于 2025 年 1 月 13 日召开第三届董 事会第十六次（临时）会议和第三届监事会第十六次（临时）会议，审议通过了《关于回购 公司股份方案的议案》，公司拟以自有资金和/或自筹资金不低于人民币 3,000 万元且不超 过人民币 6,000 万元(均含本数)通过集中竞价交易方式回购公司人民币普通股(A 股)股票， 用于实施员工持股计划和/或股权激励。本次回购的资金总额不低于人民币 3,000 万元且不 超过人民币 6,000 万元,回购价格不超过人民币 27.18 元/股(含本数)。按回购金额上限人民 币 6,000 万元、回购价格上限 27.18 元/股测算，预计可回购股数不低于 2,207,483 股 （含 本数），约占公司目前总股本的 0.98%；按回购金额下限人民币 3,000 万元、回购价格上限 27.18 元/股测算，预计可回购 ...

Investment Rating - The report assigns an "Accumulate" rating for the company for the first time [2]. Core Insights - The company is a leading player in the domestic backlight display module industry, specializing in the research, production, and sales of backlight display modules, with a focus on Mini LED and LIPO technologies as future growth drivers [4][5]. - The company has received a high-tech enterprise certification, allowing it to enjoy a reduced corporate income tax rate of 15% for three consecutive years from 2024 to 2026 [4]. - The company is expected to see significant growth in revenue and net profit over the next few years, driven by the expansion of its Mini LED and LIPO businesses [4][37]. Financial Summary - The company’s total revenue is projected to grow from 1,026 million yuan in 2023 to 2,600 million yuan in 2026, with a compound annual growth rate (CAGR) of approximately 30.46% [4][37]. - Net profit attributable to the parent company is expected to increase from 46 million yuan in 2023 to 348 million yuan in 2026, reflecting a CAGR of 147.3% from 2024 to 2025 and 55.3% from 2025 to 2026 [4][37]. - The gross margin is anticipated to improve from 13.1% in 2023 to 25.8% in 2026, indicating enhanced profitability [4][37]. Business Growth Drivers - The Mini LED market is rapidly developing, particularly in the automotive sector, where the company has established partnerships with several well-known clients, positioning itself for significant growth [4][15][22]. - The LIPO technology is becoming a key trend in high-end smartphone displays, with the company having successfully achieved mass production of this technology, enhancing its competitiveness in the OLED market [4][36][24]. Market Position - The company is positioned in the midstream of the LED industry chain, benefiting from the expanding downstream liquid crystal display module market, which is expected to grow significantly due to increased production capacity in China [5][8]. - The domestic LCD panel capacity share is projected to rise from 67% in 2023 to 70% by 2025, further driving demand for backlight display modules [8].

深圳市隆利科技股份有限公司投资者关系活动记录表 编号：2025-012 证券代码：300752 证券简称：隆利科技 | | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活 动类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 □其他 | | 参与单位名称 | | | 及人员姓名 | 中信证券 财通证券 | | 时间 | 2025年3月21日 | | 地点 | 深圳市龙华区大浪街道高峰社区鹊山路光浩工业园G栋 | | 上市公司接待 | 证券事务代表：李姝涵女士 | | 人员姓名 | | | | 1、公司目前的业务布局是怎样的？ | | | 近年来，公司通过不断优化产品结构，积极拓展多元化业务布局，形 | | | 成了：1、以手机/平板/NB等消费电子作为核心的基本业务稳步恢复；2、 | | | 车载显示业务快速增长；3、与OLED屏相关的LIPO业务将于2025年进入量 | | | 产阶段。同时布局了AR/VR显示、工控显示、医疗显示、新型精密结构件 | | | 等具有增长潜力的业务。公司将继续保持创新理念，不断进行技术创新， | | ...

Group 1: Company Performance and Business Layout - The company has achieved good performance in recent years by optimizing product structure and expanding diversified business layouts, including core businesses in consumer electronics such as mobile phones, tablets, and notebooks [2] - The automotive display business is experiencing rapid growth, with the LIPO business related to OLED screens expected to enter mass production in 2025 [2] - The company is also exploring growth potential in AR/VR displays, industrial control displays, medical displays, and new precision structural components [2] Group 2: Automotive Display Business Progress - As a leading company in Mini-LED automotive backlight display technology, the company has established good partnerships with well-known tier 1 clients such as Continental, Faurecia, and Visteon [3] - The recognition from domestic and international clients positively drives the company's automotive business, allowing for continuous technological upgrades and innovations [3] - The company plans to continue focusing on the development of automotive display business to enhance its core competitiveness [3] Group 3: Market and Technology Trends - The automotive display market is expected to grow significantly due to the increasing penetration of smart cockpits, with trends towards intelligent, large, multi-screen, high-definition, and interactive displays [3] - The number of displays per vehicle and the size of individual screens are both increasing, indicating a broad market outlook for the automotive display industry [3] - New display technologies, particularly Mini-LED, are accelerating in application within automotive displays due to their excellent display effects and energy-saving characteristics [3]