证券代码：301101 证券简称：明月镜片 公告编号：2024-038 明月镜片股份有限公司 关于股价异常波动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、股票交易异常波动的情况 明月镜片股份有限公司（以下简称"公司"或"本公司"）于 2024 年 11 月 14 日、11 月 15 日、11 月 18 日连续 3 个交易日收盘价格涨幅偏离值累计超过 30%。 根据深圳证券交易所的有关规定，属于股票交易异常波动的情形。 二、公司关注并核实相关情况 针对公司股票异常波动情况，公司董事会通过现场、电话及通信等方式，对公 司控股股东、实际控制人、公司全体董事、监事及高级管理人员就相关问题进行了 核实，现就相关情况说明如下： 1、截至本公告日，公司前期披露的信息不存在需要更正、补充之处； 2、公司及控股股东、实际控制人不存在应披露而未披露的重大事项，也不存 在处于筹划阶段的重大事项； 3、股票异动期间，公司控股股东、实际控制人不存在买卖公司股票的行为； 4、近期公司经营情况及内外部经营环境未发生或预计将要发生重大变化； 5、公司未发现近期公共传媒报道可能 ...

上海市广发律师事务所 关于明月镜片股份有限公司 2024 年第二次临时股东大会的法律意见书 致：明月镜片股份有限公司 明月镜片股份有限公司（以下简称"公司"）2024 年第二次临时股东大会于 2024 年 11 月 8 日在上海市普陀区岚皋路 567 号 3 楼会议室召开。上海市广发律 师事务所经公司聘请，委派邵彬律师、李文婷律师出席现场会议，根据《中华人 民共和国公司法》（以下简称"《公司法》"）、《上市公司股东大会规则》（以下简 称"《股东大会规则》"）等法律法规、其他规范性文件以及《明月镜片股份有限 公司章程》（以下简称"《公司章程》"）的规定，就本次股东大会的召集和召开程 序、召集人及出席会议人员的资格、会议议案、表决方式和表决程序、表决结果 和会议决议等出具本法律意见书。 为出具本法律意见书，本所律师对本次股东大会所涉及的有关事项进行了审 查，查阅了相关会议文件，并对有关问题进行了必要的核查和验证。 公司已向本所保证和承诺，公司向本所律师所提供的文件和所作的陈述和说 明是完整的、真实的和有效的，有关原件及其上面的签字和印章是真实的，且一 切足以影响本法律意见书的事实和文件均已向本所披露，而无任何隐瞒 ...

一、 会议召开情况 证券代码：301101 证券简称：明月镜片 公告编号：2024-037 明月镜片股份有限公司 2024 年第二次临时股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示 6、 本次会议的召集、召开符合有关法律、行政法规、部门规章、规范性文 件和公司章程等的规定。 二、 会议出席情况 （一）股东出席的总体情况 出席本次股东大会现场会议和网络投票表决的股东及股东代理人共 133 人， 1、 本次股东大会不存在否决议案的情形。 2、 本次股东大会不涉及变更以往股东大会已通过的决议。 1、 召开时间： （1） 会议召开时间：2024 年 11 月 8 日（星期五）14:30。 （2） 网络投票时间：2024 年 11 月 8 日。 其中通过深圳证券交易所交易系统进行网络投票的具体时间为：2024 年 11 月 8 日 9:15—9:25，9:30—11:30 和 13:00—15:00；互联网投 票系统投票的时间为 2024 年 11 月 8 日 9:15—15:00 期间的任意时 间。 2、 召开地点：上海市普陀区岚皋路 5 ...

明月镜片股份有限公司 投资者关系活动记录表 | --- | --- | --- | |------------------------------|------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The report maintains a "Hold" rating for the company [1]. Core Insights - The company demonstrated resilient performance with a revenue of 580 million yuan for the first three quarters of 2024, reflecting a year-on-year increase of 3.6%. The net profit attributable to shareholders reached 140 million yuan, up 11.9% year-on-year [1][2]. - The overall gross margin stabilized at 59.3% for the first three quarters, showing a year-on-year increase of 1.4 percentage points [2]. - The company's focus on product optimization and brand strength continues to drive growth, particularly in its star products, which have maintained double-digit growth [3][4]. Financial Performance Summary - For Q3 2024, the company achieved a revenue of 200 million yuan, a year-on-year increase of 0.6%, and a net profit of 48.04 million yuan, up 13.6% year-on-year [1][2]. - The gross margin for Q3 was reported at 59.1%, a decrease of 1.1 percentage points year-on-year, while the net margin improved to 24.2%, an increase of 2.8 percentage points year-on-year [2]. - The company’s total expenses for the first three quarters were 34% of revenue, with a notable decrease in sales expenses due to reduced advertising costs [2]. Product and Market Strategy - The lens business generated 170 million yuan in revenue during Q3, marking a 3.9% year-on-year increase, contributing 84.3% to total revenue [3]. - The introduction of the "Light Control Pro 2.0" series has enhanced product quality, leading to a 34.2% year-on-year increase in sales for the "Light Control Pro" series [3]. - The company anticipates steady growth in its near-sightedness prevention product line, with projected sales growth rates of 5%, 40%, and 30% for 2024-2026 [8]. Earnings Forecast and Valuation - The expected earnings per share (EPS) for 2024, 2025, and 2026 are projected to be 0.87 yuan, 1.05 yuan, and 1.23 yuan, respectively, with corresponding price-to-earnings (PE) ratios of 31x, 25x, and 22x [4][10]. - The report emphasizes the continuous optimization of the product structure and enhancement of brand power as key factors supporting the "Hold" rating [4].

明月镜片（301101.SZ）2024 年三季报点评 [盈利预测与财务指标 Table_Forcast] 常规镜片大单品逆势高增，离焦镜升级迭代持续放量，期待后续持续增长 2024 年 10 月 25 日 ➢ 事件：明月镜片披露 2024 年三季报。24Q1-3，公司实现营收 5.83 亿 元，yoy+3.61%；归母净利润 1.37 亿元，yoy+11.91%；扣非归母净利 1.17 亿元，yoy+9.88%。单 Q3 看，公司实现营收 1.98 亿元，yoy+0.64%；归 母净利润 0.48 亿元，yoy+13.57%；扣非归母净利 0.42 亿元，yoy+15.22%。 ➢ 常规镜片大单品持续高增，轻松控系列升级延续增长。1）明星单品：剔 除出口业务，24Q3 公司镜片业务营收为 1.67 亿元，同比+3.9%，占总营收 的比例为 84.18%；公司聚焦大单品策略效果明显，24Q1-3 PMC 超亮系列 产品收入同比+50.62%、1.71 系列产品同比+16.5%。2）近视防控产品： 24Q3 公司推出新一代轻松控 PRO 2.0 系列产品，进一步优化镜片的光学设 计和成像质量；根据中山大学中山眼科 ...

公司点评报告 · 轻工行业 表现稳健, 产品迭代持续向上 2024年10月 24日 核心观点 | --- | --- | --- | --- | |-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------|--------------------| | | | | | | | | | | | ● | 事件:公司发布 2024年第三季度报告。报告 ...

Investment Rating - Buy rating maintained for Mingyue Optical (301101 SZ) [1][4] Core Views - Revenue and earnings show steady growth with 2024Q1-Q3 revenue of RMB 580 million (+3 6%) and net profit of RMB 140 million (+11 9%) [4] - Gross margin improved to 59 3% (+1 4pct) in 2024Q1-Q3 with net profit margin at 24 8% (+1 2pct) [5] - Focus on key product strategy shows effectiveness with PMC Ultra-Bright series revenue up 50 6% YoY and 1 71 series up 16 5% [6] - Collaboration with global optical giant Leica to enter high-end market [6] Financial Performance - 2024Q3 revenue reached RMB 290 million (+0 6%) with net profit of RMB 50 million (+13 6%) [4] - 2024-2026 net profit forecast adjusted to RMB 175/210/242 million from previous RMB 201/243/289 million [4] - 2024Q3 gross margin slightly declined to 59 1% (-1 1pct) but net profit margin improved to 25 7% (+2 1pct) [5] Product Strategy - New product "Easy Control Pro" 2 0 launched with optimized optical design and imaging quality [6] - "Easy Control" series sales reached RMB 45 97 million in 2024Q3 (+2 4% YoY) [6] Market Position - Total market capitalization stands at RMB 5 247 billion with circulating market cap of RMB 1 861 billion [1] - Current stock price at RMB 26 04 with 52-week range of RMB 19 84-41 98 [1]

Investment Rating - The report maintains a "Buy" rating for the company [1][3] Core Views - The company achieved a revenue of 198 million yuan in Q3 2024, representing a year-on-year increase of 0.6%. The lens business generated 167 million yuan, up 3.9% year-on-year, excluding export business. The net profit attributable to shareholders was 48 million yuan, a 13.6% increase year-on-year, while the net profit after deducting non-recurring items was 42 million yuan, up 15.2% year-on-year [1] - The company launched the "Easy Control PRO2.0" series in Q3 2024, improving optical design and image quality, with an effective rate of 73.82%, a 13.82% increase compared to the previous version. The sales of the "Easy Control" series reached 46 million yuan, a 2.4% increase year-on-year [1] - The company is entering the high-end lens market through a partnership with Leica, focusing on optical technology sharing, joint product development, and market channel expansion [1] - The gross margin for Q3 2024 was 59.1%, with a net profit margin of 24.2%, reflecting a year-on-year increase of 2.8 percentage points. The company generated a net operating cash flow of 67 million yuan, an increase of 18 million yuan year-on-year [1] Financial Summary - The company forecasts net profits attributable to shareholders of 180 million yuan, 220 million yuan, and 260 million yuan for 2024, 2025, and 2026, respectively, corresponding to P/E ratios of 30X, 25X, and 21X [1][2] - Revenue is projected to grow from 749 million yuan in 2023 to 1,015 million yuan in 2026, with a compound annual growth rate of approximately 13.4% [2][10] - The latest diluted EPS is expected to increase from 0.78 yuan in 2023 to 1.29 yuan in 2026 [2][10]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 29.03 yuan [2][4][7]. Core Insights - The company reported a revenue of 583 million yuan for the first three quarters of 2024, representing a year-on-year growth of 3.61%, and a net profit attributable to the parent company of 137 million yuan, up 11.91% year-on-year [1]. - In Q3, the company achieved a revenue of 198 million yuan, a 0.64% increase year-on-year, and a net profit of 48 million yuan, growing 13.57% year-on-year [1]. - Domestic lens business showed steady growth, while raw material and export businesses faced pressure [1]. - The company adjusted its sales expense rhythm, leading to a continuous improvement in profitability, with a gross margin of 59.10% in Q3, a decrease of 1.1 percentage points year-on-year [1]. - The collaboration with Leica is expected to enhance the company's high-end brand image, with the launch of four categories of Leica lens products [1]. Financial Summary - The company’s revenue is projected to grow from 749 million yuan in 2023 to 1,036 million yuan in 2026, with a compound annual growth rate (CAGR) of 12.4% [3]. - The net profit attributable to the parent company is expected to increase from 158 million yuan in 2023 to 261 million yuan in 2026, reflecting a CAGR of 16.6% [3]. - The gross margin is anticipated to improve from 57.6% in 2023 to 62.3% in 2026 [3]. - The net profit margin is projected to rise from 21.0% in 2023 to 25.1% in 2026 [3]. - The earnings per share (EPS) is expected to grow from 0.78 yuan in 2023 to 1.29 yuan in 2026 [3].