Market Overview - As of April 14, the Shanghai Composite Index closed at 3262.81 points, up 24.58 points, with an increase of 0.76% [1] - The Shenzhen Component Index closed at 9884.30 points, up 49.86 points, with an increase of 0.51% [1] - The ChiNext Index closed at 1932.91 points, up 6.54 points, with an increase of 0.34% [1] High Turnover Stocks - A total of 86 A-shares had a turnover rate exceeding 20% on this day [1] - C Taihe had the highest turnover rate at 60.78%, closing at 35.55 yuan, with a decline of 11.24% [2] - Huaguang Yuanhai followed with a turnover rate of 53.40%, closing at 27.95 yuan, down 5.25% [2] - Taipeng Intelligent had a turnover rate of 51.68%, closing at 22.41 yuan, with an increase of 29.99% [2] - Other notable stocks with high turnover rates include Qingdao Jinwang (48.70%, +5.41%), China Ruilin (45.33%, +2.91%), and Hongbaoli (45.06%, +5.99%) [2] Additional High Turnover Stocks - Sunshine Dairy had a turnover rate of 42.11%, closing at 15.00 yuan, up 5.26% [2] - Knight Dairy had a turnover rate of 41.34%, closing at 12.77 yuan, down 3.62% [2] - Beiyinmei had a turnover rate of 41.20%, closing at 6.73 yuan, down 2.89% [2] - Other stocks with significant turnover rates include Shennong Agriculture (37.38%, +3.90%) and Zhongbai Group (37.01%, +4.19%) [2]

Group 1 - The consumer electronics sector is experiencing a significant rise, with companies such as Luxshare Precision (002475), Chaoyang Technology (002981), Longyang Electronics (301389), and Huaqin Technology (603296) hitting the daily limit up [1] - Other companies like Lens Technology (300433), Anker Innovation (300866), and Fuliwang have seen their stock prices increase by over 10% [1] - There is a notable influx of dark pool capital into these stocks, indicating strong investor interest [1]

法律意见书 江苏益友天元律师事务所 关于隆扬电子（昆山）股份有限公司 2024 年年度股东大会的 法律意见书 地址：苏州工业园区月亮湾路 15 号中新大厦 7 楼 邮编：215123 电话：0512-68240861 传真：0512-68253379 二〇二五年四月 法律意见书 江苏益友天元律师事务所 关于隆扬电子（昆山）股份有限公司 2024 年年度股东大会 法律意见书 致：隆扬电子（昆山）股份有限公司 根据《中华人民共和国公司法》（下称"《公司法》"）、《中华人民共和国证券 法》（下称"《证券法》"）、《上市公司股东大会规则》等法律、法规和规范性文件 及《隆扬电子（昆山）股份有限公司章程》（下称"《公司章程》"）的有关规定， 江苏益友天元律师事务所（下称"本所"）接受隆扬电子（昆山）股份有限公司 （下称"隆扬电子"或"公司"）的委托，指派庞磊、吕文彦律师（下称"本所 律师"）出席了公司 2024 年年度股东大会（下称"本次股东大会"），对本次股东 大会进行见证并发表法律意见。 为出具本法律意见书，本所律师审查了公司本次股东大会的有关文件和材料， 并得到公司如下保证：公司向本所提供的用于出具本法律意见书所必 ...

证券代码：301389 证券简称：隆扬电子 公告编号：2025-027 隆扬电子（昆山）股份有限公司 2024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内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 2、本次股东大会不涉及变更以往股东大会决议的情形。 一、会议召开和出席情况 1、会议召开时间： 现场会议时间：2025年4月8日（星期二）14:30； 网络投票的时间：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： 2025年4月8日（星期二）上午9:15-9:25、9:30-11:30，下午13:00-15:00。通过 互联网投票系统投票具体时间为2025年4月8日（星期二）上午9:15至下午15:00 期间的任意时间。 2、现场会议召开地点：江苏省昆山市周市镇顺昶路99号1楼大会议室； 3、召开方式：现场投票及网络投票相结合； 4、会议召集人：公司董事会； 5、会议主持人：董事长傅青炫； 特别提示： 1、本次股东大会无增加、变更、否决提案的情况； 6、本次会议的召集、召开符合《中华人民共和国公司法》《上市公司股东 大会规则》《深圳证券交易所创业板股票上市规则》等有关法律、行 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index within the next six months [4][19]. Core Insights - The company reported a robust growth in Q4 earnings, with a year-on-year revenue increase of 17.79% and a net profit increase of 74.41% [1]. - The overall gross margin improved by 3.31 percentage points to 47.97% in 2024, despite facing challenges from intense industry competition [2]. - The company is expanding its product offerings through the proposed acquisition of DeYou New Materials, which will enhance its capabilities in protective materials for consumer electronics [8][9]. Financial Performance Summary - For 2024, the company achieved a revenue of 288 million yuan, a year-on-year growth of 8.51%, while the net profit decreased by 15.02% to 82 million yuan [1][2]. - The projected revenues for the next few years are as follows: 385 million yuan in 2025, 500 million yuan in 2026, and 650 million yuan in 2027, with respective growth rates of 33.7%, 29.9%, and 30.0% [1]. - The company’s return on equity (ROE) is expected to improve from 4.6% in 2025 to 9.5% in 2027 [1]. Market Position and Strategy - The company has established factories in Vietnam, the USA, and Thailand to enhance its overseas delivery capabilities and tap into new growth markets [3]. - The focus on developing new materials, particularly in the copper foil segment, is expected to broaden the product range and support growth in the 3C consumer electronics and automotive electronics sectors [8][9].

东吴证券股份有限公司 关于隆扬电子（昆山）股份有限公司 2024 年度跟踪报告 | 保荐机构名称：东吴证券股份有限公司 | 被保荐公司简称：隆扬电子 | | --- | --- | | 保荐代表人姓名：葛明象 | 联系电话：0512-62938581 | | 保荐代表人姓名：徐振宇 | 联系电话：0512-62938581 | 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 | | 0 | | 次数 | | | | 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、募集资金管理制度、内控 | | 是 | | 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 | | 3、募集资金监督情况 | | | | （1）查询公司募集资金专户次数 | | 每月查询一次 | | （2）公司募 ...

Group 1: Company Overview - In 2024, the company achieved operating revenue of ¥287,942,035.52, representing a year-on-year growth of 8.51% [2] - The net profit attributable to shareholders was ¥82,231,686.40, showing a decline of 15.02% compared to the previous year [2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥77,434,121.87, down 14.79% year-on-year [2] Group 2: Product Development and Market Impact - The HVLP copper foil product was initially launched at the TPCA exhibition in Taiwan in October 2024, and is currently undergoing customer validation testing [3] - The revenue impact of the HVLP copper foil product remains uncertain, as the company has not yet generated income from it [3] - The company emphasizes the risks associated with achieving technological breakthroughs and the commercialization of its technological results [3] Group 3: M&A Progress - The company has engaged intermediary institutions to conduct due diligence, auditing, and evaluation for potential acquisition targets [3] - Formal transaction documents have not yet been signed by the parties involved in the acquisition [3] - Further details regarding the major asset restructuring can be found in the announcement dated March 21, 2025 [3] Group 4: Investor Communication - The company adheres to its information disclosure management system, ensuring that all disclosed information is true, accurate, complete, timely, and fair [3] - There have been no incidents of undisclosed significant information leakage during the investor relations activity [3]

Group 1: Acquisition of DeYou New Materials - The acquisition of DeYou New Materials is aimed at extending the company's supply chain and addressing operational needs, particularly in shock absorption and protection materials [3][6]. - DeYou New Materials specializes in functional coating composite materials, primarily used in consumer electronics manufacturing [2][6]. - The acquisition is expected to enhance the company's product offerings in the 3C consumer electronics and automotive electronics sectors, potentially increasing overall business scale and profitability [3][6]. Group 2: HVLP5+ Copper Foil Product Development - The HVLP5+ copper foil was first announced at the TPCA exhibition in October 2024, but it is still undergoing customer validation testing and has not yet generated revenue [3][7]. - There is uncertainty regarding the product's future impact on the company's performance, as it has not yet achieved commercialization [4][7]. - The company is currently focused on ensuring the product meets customer requirements before mass production can begin [4][7]. Group 3: Market and Financial Outlook - The company is actively conducting due diligence and assessments related to the acquisition of DeYou New Materials, with no formal transaction documents signed yet [5][6]. - The first quarter's performance and the overall recovery of the consumer electronics industry are anticipated to be detailed in future reports [8]. - The company has completed its share repurchase plan as of February 11, 2025, with details available in a prior announcement [8].

特别提示： 证券代码：301389 证券简称：隆扬电子 公告编号：2025-026 隆扬电子（昆山）股份有限公司（以下简称"公司"或"上市公司"）拟以支付 现金方式购买苏州德佑新材料科技股份有限公司（以下简称"德佑新材"或"标的公 司"）100%的股权（以下简称"本次交易"）。本次交易如能顺利实施，德佑新材将 成为公司的全资子公司。 2025年2月21日，公司与杨慧达、苏州慧德企业管理合伙企业（有限合伙）、荣婕、 杨慧明、苏州茂百企业管理合伙企业（有限合伙）、崔玉麟、管丹、张骏锦、胡鹤一、 陈余谦签订了《股份收购意向协议》，最终收购股权比例、交易对方及交易价格尚需 交易各方进一步协商后确定。本次签署的《股份收购意向协议》仅为意向性协议，具 体的交易方式及交易条款以各方签署的正式收购协议为准。 根据初步研究和测算，本次交易预计构成《上市公司重大资产重组管理办法》规 定的重大资产重组。本次交易不涉及上市公司发行股份，不构成关联交易，也不会导 致上市公司控股股东和实际控制人发生变更。公司将按照相关规定履行相关程序，编 制、披露相关文件。根据《上市公司股票停复牌规则》《深圳证券交易所上市公司自 律监管指引第6号——停 ...

Group 1: Company Overview - Longyang Electronics achieved operating revenue of ¥287,942,035.52 in 2024, representing a year-on-year growth of 8.51% [2] - The net profit attributable to shareholders was ¥82,231,686.40, showing a decline of 15.02% compared to the previous year [2] - The net profit after deducting non-recurring gains and losses was ¥77,434,121.87, down 14.79% year-on-year [2] Group 2: Business Operations - The company has established factories in Kunshan, Huaian, and Chongqing, and has also invested in factories in Vietnam and Thailand to meet overseas customer supply demands [2][3] - The Vietnam factory is operational, while the Thailand factory is under construction and has begun sample deliveries, although revenue contribution from both factories is currently low [3] Group 3: Product Development and Client Engagement - The company primarily serves direct downstream customers in the CCL industry, but specific client details cannot be disclosed due to commercial policy restrictions [3] - The production technology for HVLP5 copper foil is similar to that of electromagnetic shielding materials, utilizing magnetron sputtering and fine electroplating techniques, with additional post-processing steps [3] Group 4: Mergers and Acquisitions - On February 21, 2025, the company signed a letter of intent for share acquisition with Suzhou Deyou New Materials Technology Co., Ltd., which aims to enhance the company's self-developed material system in shock absorption and protection [3] - The acquisition is based on the company's operational needs and aims to expand its material development in the 3C consumer electronics and automotive electronics sectors [3] - The transaction carries uncertainties, and the company will disclose information in phases as developments occur [3]