证券简称：卓胜微 证券代码：300782 江苏卓胜微电子股份有限公司 2024 年限制性股票激励计划 （草案） 江苏卓胜微电子股份有限公司 二〇二四年三月 2024 年限制性股票激励计划（草案） 声 明 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 本公司所有激励对象承诺，公司因信息披露文件中有虚假记载、误导性陈 述或者重大遗漏，导致不符合授予权益或权益归属安排的，激励对象应当自相 关信息披露文件被确认存在虚假记载、误导性陈述或者重大遗漏后，将由本激 励计划所获得的全部利益返还公司。 特别提示 一、本激励计划系依据《中华人民共和国公司法》《中华人民共和国证券 法》《深圳证券交易所创业板股票上市规则》《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》等其他 有关法律、法规、规范性文件以及《江苏卓胜微电子股份有限公司章程》制订。 二、本激励计划采取的激励工具为限制性股票（第二类限制性股票）。股 票来源为江苏卓胜微电子股份有限公司（以下简称"公司"或"本公司"）向激励 对象定向发行 ...

| | 计划草案是否已列明其姓名、职务、获授数量 | | | --- | --- | --- | | 19 | 股权激励计划的有效期从授权日起计算是否未超过 10 年 | 是 | | 20 | 股权激励计划草案是否由薪酬与考核委员会负责拟定 | 是 | | | 股权激励计划披露完整性要求 | | | 21 | 股权激励计划所规定事项是否完整 | 是 | | | （1）对照《股权激励管理办法》（以下简称"《管理办法》"）的 | | | | 规定，逐条说明是否存在上市公司不得实行股权激励以及激励 | | | | 对象不得参与股权激励的情形；说明股权激励计划的实施会否 | 是 | | | 导致上市公司股权分布不符合上市条件 | | | | （2）股权激励计划的目的、激励对象的确定依据和范围 | 是 | | | （3）股权激励计划拟授予的权益数量及占上市公司股本总额的 | | | | 百分比；若分次实施的，每次拟授予的权益数量及占上市公司 | | | | 股本总额的百分比；设置预留权益的，拟预留的权益数量及占 | | | | 股权激励计划权益总额的百分比；所有在有效期内的股权激励 | 是 | | | 计划所涉及的标的 ...

证券代码：300782 证券简称：卓胜微 江苏卓胜微电子股份有限公司 2024 年限制性股票激励计划 （草案）摘要 声 明 本公司及全体董事、监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 特别提示 一、《江苏卓胜微电子股份有限公司 2024 年限制性股票激励计划（草案）》 （以下简称"本激励计划"）由江苏卓胜微电子股份有限公司（以下简称"卓胜 微"、"公司"或"本公司"）依据《中华人民共和国公司法》《中华人民共和国证 券法》《上市公司股权激励管理办法》《深圳证券交易所创业板股票上市规则》《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》等其他有关法 律、行政法规、规范性文件以及《江苏卓胜微电子股份有限公司章程》等有关规 定制订。 二、本激励计划采取的激励工具为限制性股票（第二类限制性股票）。股票 来源为公司向激励对象定向发行的本公司人民币 A 股普通股股票。 符合本激励计划授予条件的激励对象，在满足相应归属条件和归属安排后， 在归属期内以授予价格分次获得公司增发的 A 股普通股股票，该等股票将在中 国证券登记结算有限责任 ...

证券研究报告 | 公司深度报告 2024 年 02月 29日 卓胜微（300782.SZ） 卓然创新无止境，胜绝射频赢未来，拓千亿 PAMID 市场 财务指标 2021A 2022A 2023E 2024E 2025E 增持（维持评级） 营业收入（百万元） 4,634 3,677 4,378 5,299 6,366 股票信息 增长率yoy（%） 66.0 -20.6 19.1 21.0 20.1 归母净利润（百万元） 2,135 1,069 1,165 1,543 1,950 行业 电子 增长率yoy（%） 99.0 -49.9 8.9 32.5 26.4 2024年2月29日收盘价（元） 107.50 ROE（%） 28.0 12.4 12.0 13.9 15.0 总市值（百万元） 57,385.13 EPS最新摊薄（元） 4.00 2.00 2.18 2.89 3.65 流通市值（百万元） 47,817.78 P/E（倍） 27.5 54.9 50.4 38.1 30.1 总股本（百万股） 533.82 P/B（倍） 7.7 6.8 6.0 5.2 4.5 流通股本（百万股） 444.82 资料来源：公司 ...

Investment Rating - The report assigns a "Buy" rating to the company, indicating a potential upside in the stock price [3]. Core Insights - The company has shown a significant recovery in performance, with a 20% increase in revenue and a 9% increase in net profit for 2023. The fourth quarter of 2023 saw a remarkable 97% growth in revenue and a 313% increase in net profit, reflecting improved market conditions and increased sales of RF module products [3]. - The company is positioned as a leader in the domestic RF chip sector, benefiting from the recovery in smartphone sales in China. The production of new products is expected to enhance its competitive edge and shift its product structure towards RF modules [3]. - Future earnings projections indicate a net profit of 16.6 billion RMB and 21.1 billion RMB for 2024 and 2025, respectively, with year-over-year growth rates of 42% and 28% [3]. Financial Summary - For 2023, the company reported a revenue of 4.38 billion RMB, a year-over-year increase of 19.1%, and a net profit of 1.165 billion RMB, reflecting a 9% increase [5]. - The earnings per share (EPS) for 2023 is projected at 2.18 RMB, with forecasts of 3.10 RMB and 3.96 RMB for 2024 and 2025, respectively [5]. - The price-to-earnings (P/E) ratios for 2024 and 2025 are estimated at 33 and 26, respectively, indicating a favorable valuation compared to historical performance [5].

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][3] Core Views - The company achieved steady growth in 2023, with revenue reaching 4.378 billion yuan, a year-on-year increase of 19.06%, and a net profit attributable to shareholders of 1.165 billion yuan, up 8.92% year-on-year. The fourth quarter saw a significant revenue increase of 97.37% year-on-year [3] - The report highlights the expected recovery in global smartphone demand, particularly with Huawei's strong return, which is anticipated to boost domestic RF front-end demand [4] - The company is increasing its R&D investment, with a total of 410 million yuan in R&D expenses for the first three quarters of 2023, representing a 46.76% year-on-year increase [5] Financial Summary - In 2023, the company is projected to achieve a revenue of 4.378 billion yuan, with a net profit of 1.165 billion yuan. The forecasts for 2024 and 2025 are 5.518 billion yuan and 6.797 billion yuan in revenue, and 1.553 billion yuan and 2.003 billion yuan in net profit, respectively [6][9] - The company's gross margin is expected to be 45.3% in 2023, improving to 46.2% in 2024 and 46.7% in 2025 [6] - The earnings per share (EPS) for 2023 is estimated at 2.18 yuan, with projections of 2.91 yuan for 2024 and 3.75 yuan for 2025 [6][9] Market Dynamics - The global smartphone market is expected to recover, with an estimated 1.211 billion units sold in 2024, and 72% of those being 5G devices, which will drive demand for mobile RF front-end components [4] - Huawei's return to the high-end smartphone market is expected to further stimulate demand for domestic RF front-end components, with Huawei's 2023 sales reaching 36.51 million units, a year-on-year increase of 19.62% [4] R&D and Product Development - The company is focusing on high-end integrated modules and has seen an increase in the proportion of self-produced filters in its RF filter products [5] - The company is accelerating the development of its high-integration "pearl-type" L-PAMiD product, which is currently in the R&D phase [5]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [7]. Core Views - The company is expected to achieve a revenue of 4.394 billion yuan in 2023, representing a year-on-year growth of approximately 19.50%. The net profit attributable to shareholders is projected to grow by 1.01% to 9.15% compared to the previous year [2]. - Despite a slowdown in global economic growth affecting smartphone demand in the first half of 2023, the second half saw a recovery driven by holiday consumption and improved inventory structures among clients [2]. - The company has focused on building its own filter production lines, accelerating product iteration to meet diverse customer needs, and expanding market coverage for RF filter module products [2][3]. Summary by Sections Revenue and Profit Growth - The company reported a revenue of 4.394 billion yuan for 2023, with a growth rate of 19.48% expected for 2024 and 17.99% for 2025 [8]. - The net profit attributable to shareholders is forecasted to be 1.150 billion yuan in 2023, with growth rates of 7.57% and 19.19% for the following years [8]. Market Dynamics - The RF chip market is recovering, with inventory pressures easing in the second half of 2023 due to increased demand from domestic smartphone sales [3]. - The company has successfully established a 6-inch filter intelligent production line, enabling mass production capabilities and addressing technical challenges in filter production [3]. Product Development - The company has made significant progress in developing high-end RF filter modules, which are now entering a phase of increased delivery and market penetration [3]. - The successful development of the L-FEMiD product enhances the company's product coverage in the high-end module segment [3]. Financial Projections - The adjusted revenue forecasts for 2023, 2024, and 2025 are 4.394 billion yuan, 5.304 billion yuan, and 6.258 billion yuan, respectively [7]. - The expected earnings per share (EPS) for the same years are 2.15 yuan, 2.57 yuan, and 3.01 yuan, with corresponding price-to-earnings (P/E) ratios of 45, 38, and 33 times [7][8].

证券代码：300782 证券简称：卓胜微 公告编号：2024-009 江苏卓胜微电子股份有限公司 关于实际控制人部分股份补充质押的公告 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。 江苏卓胜微电子股份有限公司（以下简称"公司"）于近日收到实际控制人 之一 FENG CHENHUI（冯晨晖）先生通知，获悉其所持有的本公司部分股份办 理了补充质押业务，具体事项如下： 一、股东股份质押的基本情况 1、本次股份补充质押基本情况 | 是否为 | 控股股 | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 是 | 否 | 东或第 | 本次质押 | 占其所 | 占公司 | 是 | 否 | 质押 | 为 | 补 | 质押 | | | | | | | | | 股东名称 | 一大股 | 数量 | 持股份 | 总股本 | 为 | ...

证券代码：300782 证券简称：卓胜微 公告编号：2024-008 付的集成自产滤波器的 DiFEM、L-DiFEM 及 GPS 模组等产品已实现在客户端 逐步放量提升，仅 2023 年上半年度，上述产品中自产的滤波器交付超 1.6 亿颗。 射频模组产品收入占总营收的比重呈现逐年提升的趋势。2020-2022 年度，射频 模组销售占比分别为 9.93%、25.91%、和 30.42%。2023 年前三季度，射频模组 占比约 34%，其中滤波器模组占比有明显提升。 江苏卓胜微电子股份有限公司 关于推动"质量回报双提升"行动方案的公告 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。 为切实保障投资者的合法权益，实现江苏卓胜微电子股份有限公司（以下简 称"公司"）经营发展质量、投资价值以及可持续发展水平的提升，公司制定了 "质量回报双提升"行动方案。具体举措如下： 一、深耕主营业务，全面打造"智能质造"资源平台 公司成立至今已近十八个年头，专注于射频集成电路领域的研究、开发、生 产与销售，主要向市场提供射频开关、射频低噪声放大器、射频滤波器、射频功 率放大器等射频 ...

证券代码：300782 证券简称：卓胜微 公告编号：2024-007 江苏卓胜微电子股份有限公司 关于实际控制人部分股份补充质押的公告 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。 江苏卓胜微电子股份有限公司（以下简称"公司"）于近日收到实际控制人 之一 FENG CHENHUI（冯晨晖）先生通知，获悉其所持有的本公司部分股份办 理了补充质押业务，具体事项如下： 一、股东股份质押的基本情况 1、本次股份补充质押基本情况 | | 是否为 控股股 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 东或第 | 本次质押 | 占其所 | 占公司 | 是 | 否 | 是 | 否 | | 质押 | | | | | | | | | | | 为 | 补 | | | | 质押 | | 股东名称 | 一大股 | 数量 | 持股份 | 总股本 | 为 | 限 | 充 | 质 | 质押起始日 | 到期 | 质权人 | ...