证券代码：301308 证券简称：江波龙 公告编号：2024-028 深圳市江波龙电子股份有限公司 2023 年年度股东大会决议公告 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、 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。 参加本次股东大会现场会议和网络投票表决的中小股东及股东代理人共 11 人，代表有表决权的公司股份数合计为 16,468,750 股，占公司有表决权股份总数 412,864,254 股的 3.9889%。其中：通过现场投票的股东共 2 人，代表有表决权的 公司股份 1,300 股，占公司有表决权股份总数 412,864,254 股的 0.0003%；通过网 络投票的股东共 9 人，代表有表决权的公司股份数合计为 16,467,450 股，占公司 有表决权股份总数 412,864,254 股的 3.9886%。 一、会议召开情况 (一) 召开时间：2024 年 5 月 13 日（星期一）14:30； (二) 召开地点：广东省深圳市南山区科发路 8 号金融基地 1 栋 5 楼公司会 ...

北京市中伦（深圳）律师事务所 关于深圳市江波龙电子股份有限公司 2023年年度股东大会的 法律意见书 二〇二四年五月 北京市中伦（深圳）律师事务所 关于深圳市江波龙电子股份有限公司 2023 年年度股东大会的 法律意见书 致：深圳市江波龙电子股份有限公司 北京市中伦（深圳）律师事务所（以下简称"本所"）受深圳市江波龙电子 股份有限公司（以下简称"公司"）委托，指派孔维维律师、郭子威律师出席并 见证公司 2023 年年度股东大会（以下简称"本次股东大会"），并依据《中华 人民共和国公司法》《中华人民共和国证券法》《上市公司股东大会规则》（以 下简称"《股东大会规则》"）以及《深圳市江波龙电子股份有限公司章程》（以 下简称"《公司章程》"）等有关规定，就本次股东大会的召集、召开程序、出 席现场会议人员的资格、召集人资格、会议表决程序及表决结果等事项出具本法 律意见书。 本所律师仅依据本法律意见书出具之前所发生的事实，并基于对该等事实的 认识以及对相关法律、法规以及《公司章程》的理解出具本法律意见书。本法律 意见书不涉及本次股东大会议案内容以及此间所涉及事实的真实性、准确性。 本所律师同意将本法律意见书作为本次股东 ...

作为交流电话会议目前所有参会者正处于静音状态现在开始播报名字的声明声明播完后指示人可直接开始发言 请参会人员务必注意本次电话会议交流内容仅限参会人员内部参考任何机构或个人不得以任何形式对电话会议任何内容进行泄露或外发请勿以任何方式索要、泄露、散布、转发电话会议纪要任何泄露电话会议纪要等信息的行为均为侵权行为申望洪源研究保留追究泄露转发者法律责任的权利 好 尊敬各位投资人 大家下午好我是声望电子的分析师杨海燕今天由我来主持张波龙的本场交流我们这两天也是在北京举行了商人公司的交流会 江峰文化这次拼音要参加上市公司的交流会公司在今年一季度的表现是非常非常亮眼也是对业绩做了一个非常详细的分享我们此前深度报告的观点来看 可以看到说我们对于这个业绩的潜在性相对来说判断还是比较准确的对于公司的这个盈利能力包括成长性的一个判断在三月份看下来是比较乐观那么在四月份的话也算是比较符合市场的一个判断也是基本的 得到了江波龙业绩的一个认证那我们认为就是说公司现在呢刚好是迎来几个这个机会那么大家认知比较充分也是比较一致的是对于中期的这样的一个机会价格的一个上涨那么至于品类的一个上涨幅度还有今年的一个行情展望后面也是请这个公司领导做一个 ...

目前所有参会者已经处于静音状态现在开始播报名字的声明声明播完后支持人可直接开始发言 请参会人员务必注意本次电话会议交流内容仅限参会人员内部参考任何机构或个人不得以任何形式对电话会议任何内容进行泄露或外发请勿以任何方式索要泄露散布转发电话会议纪要任何泄露电话会议纪要等信息的行为均为侵权行为申望洪源研究保留追究泄露转发者法律责任的权利 好,那尊敬各位投资人,大家下午好,我是生万电子的编译师杨海燕,那么今天的话由我来主持张博龙的本场交流,那么我们这两天的话也是在北京举行了商人公司的交流会, 江峰这次拼音要参加上述公司的招聘会,公司在今年一季度的表现非常亮眼,也是对这个月季度的一个非常详细的分享。从此前深度报告的观点来看, 可以看到说我们对于业绩的潜在性相对来说判断还是比较准确的对于公司的这个盈利能力包括成长性的一个判断在三月份看下来是比较乐观那么在四月份的话也算是比较符合市场的一个判断也是基本 得到了张伯隆业绩的一个印证我们认为就是说公司现在刚好是迎来几个机会那么大家认知比较充分也是比较一致的是对于周期的这样的一个机会价格的一个上涨那么至于品类的一个上涨幅度还有今年的一个行情展望后面也是请这个公司领导做一个详细的分 ...

Summary of the Conference Call for Jiangbolong Company Overview - Jiangbolong has been established since 1999, focusing on storage solutions and has maintained its core business throughout its history [7] - The company was listed on the Shenzhen Stock Exchange's ChiNext board in August 2022 [7] Financial Performance - Jiangbolong reported a revenue of 11.025 billion RMB for 2023, with Q1 2024 revenue reaching 4.453 billion RMB, indicating significant growth [19] - The company achieved a historical record of over 30 billion RMB in total revenue for 2023 [19] - The gross profit margin and net profit have both seen substantial increases due to a market recovery in storage prices [19][20] Product Development and Market Position - Jiangbolong is transitioning its product line, moving from traditional storage products to self-developed chips, including SLC and MLC types [5][8] - The company has developed two main types of self-researched chips: SLC and MLC, with plans to expand into QLC [8][54] - Jiangbolong's self-developed main control chips are unique in the domestic market, with an expected output of 30 to 50 million units in 2024 [9][34] Industry Dynamics - The storage industry is experiencing a recovery, with demand from smartphones, PCs, and servers beginning to stabilize [23] - Major manufacturers are shifting focus towards profitability, leading to price increases in consumer storage products [24] - The AI sector is driving demand for storage solutions, particularly in server applications, which is expected to grow significantly [26][28] Strategic Acquisitions - Jiangbolong has made two significant acquisitions in 2023 to enhance its packaging and testing capabilities, including a 70% stake in a Taiwanese company and the acquisition of a Brazilian company [14][15] - The Brazilian subsidiary has a strong market presence, particularly in mobile storage, with a market share of 51% [17] Inventory and Supply Chain Management - Jiangbolong's inventory levels are considered healthy, with a turnover period of approximately 5 to 6 months [42] - The company has strategically built its inventory in anticipation of market recovery, allowing for competitive pricing adjustments if necessary [44] Research and Development - R&D investment has increased by 66.74% year-on-year, with a team of nearly 1,000 personnel dedicated to innovation [20] - The company is focusing on developing advanced memory solutions, including DDR5 products tailored for AI applications [31][32] Future Outlook - The market for storage solutions is expected to rebound significantly in 2024, with projections of reaching a market size of approximately 140 billion USD [26] - Jiangbolong aims to leverage its technological advancements and market positioning to capture a larger share of the growing storage market, particularly in AI and automotive sectors [29][52] Key Risks - The company faces challenges related to fluctuating raw material prices and competition in the storage market, particularly in the small-capacity storage segment [49] - The reliance on external manufacturers for chip production poses risks, especially if original manufacturers do not reduce their production of MLC chips [54] This summary encapsulates the key points discussed during the conference call, highlighting Jiangbolong's financial performance, product development, industry dynamics, strategic acquisitions, inventory management, R&D efforts, future outlook, and associated risks.

证券研究报告 | 2024年04月29日 江波龙（301308.SZ） 增持 1Q24 盈利能力大幅改善，各产品线多点开花 核心观点 公司研究·财报点评 存储价格回暖，公司一季度归母净利润环比增长近6倍。公司主要以存储颗 电子·半导体 粒为原材料进行存储模组产品的开发，产品包括嵌入式存储、固态硬盘 证券分析师：胡剑 证券分析师：胡慧 (SSD)、内存条及移动存储(U盘、存储卡)。受市场疲软影响，23半年各存 021-60893306 021-60871321 hujian1@guosen.com.cn huhui2@guosen.com.cn 储颗粒原厂营业利润均跌入负值区间，随着上游厂商持续减产供给收缩，存 S0980521080001 S0980521080002 储价格4Q23显著回暖，1Q24涨价持续，在此背景下：公司4Q23实现营收 证券分析师：叶子 证券分析师：周靖翔 35.5 亿 元 (YoY+108.3%,QoQ+23.5%) ， 归 母 净 利 润 0.55 亿 元 0755-81982153 021-60375402 (YoY+140%,QoQ+119%)，毛利率18.5%(YoY+18. ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected relative increase of over 15% compared to the CSI 300 index within the next six months [16]. Core Insights - The company achieved a revenue of 10.125 billion yuan in 2023, representing a year-on-year growth of 21.55%. However, it reported a net loss attributable to shareholders of 828 million yuan, a significant decline of 1237.15% compared to the previous year [2][3]. - In Q1 2024, the company experienced a remarkable revenue increase of 200.54% year-on-year, reaching 4.453 billion yuan, with a net profit of 384 million yuan, marking a year-on-year growth of 236.93% [2][3]. - The demand for storage driven by AI technology is expected to significantly boost the storage market in 2024, with a projected market size increase of 45% to 129.8 billion USD [4][8]. Summary by Sections Market Data - Closing price: 98.36 yuan - Market capitalization: 111.01 billion yuan - Price-to-book ratio: 6.26 [1]. Financial Performance - 2023 revenue: 10.125 billion yuan, up 21.55% year-on-year - 2023 net profit: -828 million yuan, down 1237.15% year-on-year - Q1 2024 revenue: 4.453 billion yuan, up 200.54% year-on-year - Q1 2024 net profit: 384 million yuan, up 236.93% year-on-year [2][3]. Growth Drivers - The company is benefiting from a recovery in demand for storage in key markets such as smartphones, PCs, and servers, leading to improved profitability and a gross margin of 24.39% in Q1 2024, up from 23.12% year-on-year [3]. - The company is expanding its product lines into enterprise-level and automotive-grade markets, which are expected to drive future growth [8]. Competitive Position - The company holds a strong competitive position with a diversified product portfolio, including embedded storage, solid-state drives, and memory modules, and is well-positioned to benefit from the domestic substitution trend in the storage market [4][7][8].

Investment Rating - The report maintains a "Recommend" rating for the company [4] Core Views - The company's performance in Q1 2024 was strong, with revenue reaching 4.453 billion yuan, a year-on-year increase of 200.54%, and net profit attributable to shareholders of 384 million yuan, a year-on-year increase of 236.93% [4] - The storage industry is entering a new upward cycle, and the company, as a leading domestic storage brand, is expected to see rapid performance recovery [8] - The company's Lexar brand achieved a 59% year-on-year revenue growth to 2.426 billion yuan in 2023, despite the global storage industry downturn [5] Financial Performance - In 2023, the company achieved revenue of 10.125 billion yuan, a year-on-year increase of 21.55%, but reported a net loss of 828 million yuan [4] - The company's gross margin in Q1 2024 increased by 23.12 percentage points year-on-year to 24.39%, and the net margin increased by 27.53 percentage points to 8.6% [5] - The report forecasts the company's revenue to grow to 14.092 billion yuan in 2024, 18.306 billion yuan in 2025, and 22.015 billion yuan in 2026 [5] Business Highlights - The company has made significant progress in enterprise-level storage, with its NVMe SSD and SATA SSD products compatible with multiple domestic CPU platforms [6] - The company has launched several competitive consumer products under the Lexar brand, including the Ares series/NM790 SSD and GOLD microSDXC™UHS-II memory card [8] - The company has invested heavily in R&D, with self-developed controller chips WM6000 and WM5000 already in mass production [8] Industry Outlook - The storage industry is expected to continue its upward trend in 2024, with strong demand for price increases from storage manufacturers [8] - The company is well-positioned to benefit from the industry's recovery, with its leading position in the domestic storage market [8]

中信建投证券股份有限公司关于 一、保荐工作概述 | 公司及股东承诺事项 | | | | | | 是否履行 | 未履行承诺 的原因及解 | | --- | --- | --- | --- | --- | --- | --- | --- | | 承诺 | | | | | | | | | 决措施 | | | | | | | | | Jason Zheng；蔡华波；蔡靖；蔡丽江；陈大同；陈伟岳；高威；高喜春； | | | | | | | | | 金红梅；李志雄；谭康强；唐忠诚；王景阳；许刚翎；杨晓斌；朱宇； | | | | | | 是 | 不适用 | | 公司其他承诺（2022 8 | | 年 | 月 | 5 | 日） | | | | 公司；蔡丽江;公司董监高；国家集成电路基金；龙舰管理;龙熹二号;龙 | | | | | | 是 | 不适用 | | 熹三号;龙熹五号;龙熹一号其他承诺（2022 年 8 月 5 日） | | | | | | | | | 元禾璞华；聚源聚芯；力合创投；南山鸿泰；深圳市集诚；深圳市展想； | | | | | | 履行完毕 | 不适用 | | 年 月 日） 上凯创投；泰科源其他承诺（2022 ...

证券研究报告 | 公司动态点评 2024 年 04月 23日 江波龙（301308.SZ） 24Q1 扣非净利润环比+23 倍增长，企业级存储助力成长新动能 财务指标 2022A 2023A 2024E 2025E 2026E 增持（维持评级） 营业收入（百万元） 8,330 10,125 18,002 26,374 33,381 股票信息 增长率yoy（%） -14.6 21.6 77.8 46.5 26.6 归母净利润（百万元） 73 -828 1,512 2,680 4,164 行业 电子 增长率yoy（%） -92.8 -1237.1 282.7 77.2 55.4 2024年4月23日收盘价（元） 94.80 ROE（%） 1.1 -13.0 19.0 25.2 28.2 总市值（百万元） 39,139.53 EPS最新摊薄（元） 0.18 -2.01 3.66 6.49 10.09 流通市值（百万元） 10,699.42 P/E（倍） 543.9 -47.8 26.2 14.8 9.5 总股本（百万股） 412.86 P/B（倍） 6.0 6.6 5.3 3.9 2.8 流通股本（百万股） 112 ...