华泰联合证券有限责任公司 关于南京波长光电科技股份有限公司 2024 年年度跟踪报告 | 保荐人名称：华泰联合证券有限责任公司 | 被保荐公司简称：波长光电 | | --- | --- | | 保荐代表人姓名：吕复星 | 联系电话：025-83387704 | | 保荐代表人姓名：吴韡 | 联系电话：025-83387704 | 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次数 | 0 次 | | 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、 | 是 | | 募集资金管理制度、内控制度、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 | 每月一次 | | （2）公司募集资金项目进展是否与信息披露 | | | 文件一致 | 是 ...

Group 1: Financial Performance - In 2024, the company's revenue increased by 14.32%, but net profit decreased by 31.72% due to declining gross margins in infrared business and increased management and R&D expenses [13] - In 2024, overseas revenue reached approximately 1.3 billion CNY, accounting for about 30% of total revenue, with 80% generated by the Singapore subsidiary [6][14] - The company plans to improve profitability through product structure optimization and cost management [13] Group 2: Business Segments - The semiconductor and related fields generated revenue of 51 million CNY in 2024, an increase of 82% year-on-year [3] - The company focuses on precision optical components and systems, primarily serving industries such as semiconductor manufacturing, industrial laser processing, and consumer optics [12] - In the AR/VR sector, revenue was 5.5 million CNY in 2024, with expectations for significant growth in 2025 due to new product launches [8] Group 3: Strategic Goals and Market Position - The company aims to expand its semiconductor and related fields, investing in talent, technology, and hardware to overcome bottlenecks in the semiconductor industry [4] - The company has established a dual-drive strategy of "domestic + overseas" to mitigate risks from international trade fluctuations [6][14] - Future plans include enhancing product technology barriers and increasing customer loyalty to improve pricing power [7] Group 4: R&D and Innovation - In 2024, R&D investment was 27.87 million CNY, accounting for 6.7% of revenue, with a focus on semiconductor optics and micro-nano optics [15] - The company is developing micro-nano optical components and plans to enhance product value through innovative applications [16] - The company has completed the construction of a micro-nano optical laboratory to support high-precision optical device research [16]

江苏世纪同仁律师事务所 本所律师根据相关法律、法规和规范性文件的要求，按照律师行业公认的业 务标准、道德规范和勤勉尽责精神，出具法律意见如下： 关于南京波长光电科技股份有限公司 2025 年第二次临时股东大会的法律意见书 南京波长光电科技股份有限公司： 根据《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 会规则》等法律、法规和规范性文件以及《公司章程》的规定，本所受公司董事 会委托，指派本所律师出席公司 2025 年第二次临时股东大会，并就本次股东大 会的召集、召开程序、出席会议人员资格、召集人资格、表决程序以及表决结果 的合法有效性等事项出具法律意见书。 波长光电 2025 年第二次临时股东大会 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。 本所律师同意将本法律意见书随公司本次股东大会决议一并公告，并依法对 本法律意见书承担相应的责任。 上述会议通知载明了本次股东大会的召开时间、地点、股权登记日、会议召 集人、会议内容、出席对象、出席会议登记办法等事项，载明了参与网络投票的 1 波长光电 2025 ...

证券代码：301421 证券简称：波长光电 公告编号：2025-030 南京波长光电科技股份有限公司 特别提示： 1．本次股东大会未出现否决议案的情形； 2．本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开的时间： 1．现场会议时间：2025 年 4 月 28 日 15:30 2．网络投票时间： 通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 4 月 28 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00。 2025 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。 本次股东大会通过现场和网络投票的股东及股东授权委托代表共 154 名，具 体出席情况如下： 通过深圳证券交易所互联网投票系统进行投票的具体时间为 2025 年 4 月 28 日 9:15-15:00 期间的任意时间。 （二）会议的召开方式： 本次股东大会采用现场表决与网络投票相结合的方式召开。 （三）现场会议地点： 南京市江宁区湖熟工业集中区波光路 18 号公司会议室。 （四）股东大会的 ...

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The lithography process is the most technically challenging, costliest, and time-consuming step in chip manufacturing, accounting for approximately 30% of costs and 40-50% of time in the manufacturing process [7][10][12] - The lithography process involves multiple steps, including surface treatment, coating, exposure, development, and inspection, with advanced technology nodes requiring 60-90 lithography steps [7][10] - The lithography market is dominated by three major players: ASML, Nikon, and Canon, with a market size in the hundreds of billions [3.2][4.1] Summary by Sections 1. Lithography Process - Lithography is crucial for defining the minimum line width of chips and directly impacts the performance and process level of semiconductor devices [7][10] - Key parameters in lithography include resolution and overlay accuracy, which are essential for ensuring the precise transfer of patterns onto silicon wafers [14][32] 2. Components of Lithography Machines - Lithography machines consist of several key components, including the light source, illumination system, and projection optics, which are critical for the exposure process [43][45] - The light source provides the energy needed for lithography, with different types such as mercury lamps, excimer lasers, and extreme ultraviolet (EUV) light being used depending on the process requirements [45][48] 3. Lithography Machine Market - The lithography machine market is characterized by a high level of competition among leading manufacturers, with ASML being a dominant player in the EUV segment [3.2][4.1] - The report highlights the evolution of lithography technology, including advancements in light source wavelengths and numerical aperture (NA), which are essential for improving resolution [19][22] 4. Domestic Supply Chain Manufacturers - The report outlines several domestic manufacturers involved in the lithography supply chain, including Shanghai Micro Electronics, Guoke Precision, and Huazhuo Jingke, each specializing in different aspects of lithography technology [4.1][4.2][4.3]

Core Insights - The micro-light device industry in China is experiencing steady growth, driven by increasing demand in security monitoring, military defense, and industrial inspection sectors. The market size is projected to rise from approximately 11.265 billion yuan in 2019 to 19.27 billion yuan by 2024 [1][8]. Industry Definition and Classification - Micro-light devices are electronic devices capable of detecting, amplifying, or converting light signals under low-light conditions, widely used in night vision, monitoring, astronomical observation, and biomedical imaging [1]. Industry Chain Analysis - The micro-light device industry chain includes upstream raw material and equipment suppliers, midstream manufacturers and component integrators, and downstream applications in military, security, industrial inspection, and scientific research [3]. Development History - The industry has evolved through three stages: reliance on foreign technology in the early years, increased domestic production and innovation in the mid-stage, and a focus on technological upgrades and market expansion in recent years [5]. Current Market Analysis - The market size of the micro-light device industry is expected to grow significantly, with a notable increase in demand for micro-light imaging devices in smart city security systems and military modernization efforts [8][11]. Downstream Application Areas - The military sector dominates the application of micro-light devices, accounting for 48% of the market, followed by security monitoring at 28%, and industrial inspection at 15%. Emerging fields like autonomous driving and biomedical applications are also gaining traction [11]. Key Companies Analysis - Major players in the industry include North Night Vision Technology, Great Wall Micro-light, Wavelength Optoelectronics, and others, each focusing on different aspects of micro-light device production and innovation [13][14][16]. Future Development Trends - The industry is moving towards integration and miniaturization of micro-light devices, enhancing performance and enabling new applications. Additionally, achieving a self-controlled industry chain is crucial for reducing dependency on external technologies and improving competitiveness [18][19]. Market Outlook - Micro-light devices are expanding their applications beyond traditional security monitoring into new areas such as autonomous driving and smart healthcare, indicating a promising market future [20].

Core Viewpoint - The company has reported a total revenue of 416 million yuan for 2024, marking a year-on-year increase of 14.32%, while the net profit attributable to the parent company decreased by 31.72% to approximately 36.96 million yuan due to various cost pressures and market challenges [6][8]. Financial Performance - The company achieved total revenue of 416 million yuan in 2024, a 14.32% increase from the previous year, with the laser optics segment contributing 269 million yuan, reflecting a 22.17% growth [6][10]. - The net profit attributable to the parent company was approximately 36.96 million yuan, down 31.72% year-on-year, primarily due to declining gross margins in the infrared business and increased management and R&D expenses [6][8]. - Management and sales expenses rose by 10.09 million yuan, driven by increased personnel costs and the implementation of a stock incentive plan [7][8]. - R&D expenses increased by 629.13 million yuan, reflecting the company's commitment to innovation and product development [8][15]. Business Overview - The company operates in the precision optics industry, focusing on laser processing, infrared thermal imaging, and consumer optical products, providing comprehensive optical solutions [19][24]. - The company has successfully expanded its laser optics business, particularly in the semiconductor and intelligent manufacturing sectors, achieving significant sales growth [10][12]. - The infrared optics segment faced challenges due to fluctuations in raw material prices, but the company has adapted by enhancing its supply chain and developing alternative materials [11][12]. Market Trends - The global semiconductor industry is experiencing rapid growth, with increasing demand for high-performance equipment, which is beneficial for the company's optical systems used in semiconductor manufacturing [26][29]. - The consumer electronics market, particularly in AR/VR, is expected to grow significantly, with the company positioning itself to capture this emerging demand [35][36]. - The infrared thermal imaging market is expanding, driven by new applications in various sectors, including smart homes and automotive, indicating a strong growth potential for the company's infrared products [33][34]. Strategic Initiatives - The company plans to continue its "Optics+" development strategy, focusing on high-precision optical production capabilities and expanding into semiconductor and high-end PCB markets [16][18]. - The company is enhancing its global presence through a dual-driven strategy of domestic and international operations, with significant revenue growth from overseas markets [11][12]. - The company is committed to increasing R&D investment and talent acquisition to drive innovation and maintain competitive advantages in the precision optics sector [14][15].

Company Performance - In 2024, the company achieved an operating revenue of 416 million yuan, a year-on-year increase of 14.32%, primarily driven by the strong performance of the laser optics business segment, which contributed 269 million yuan in revenue, up 22.17% year-on-year [1] - For Q1 2025, the company continued its revenue growth trend, achieving 99.23 million yuan, a year-on-year increase of 20.87%, driven by strong demand in the semiconductor, PCB, and infrared security sectors [1] - Despite revenue growth, the company's net profit declined significantly, with a 31.72% drop to 36.96 million yuan in 2024 and a 39.55% decrease to 6.51 million yuan in Q1 2025, attributed to fluctuations in raw material costs, increased asset and credit impairment losses, and rising management and R&D expenses [1] R&D and Innovation - The company emphasizes the construction of R&D and innovation capabilities, with a focus on laser and infrared optical components, which have become core competitive products [2] - In 2024, R&D investment reached 27.87 million yuan, a year-on-year increase of 29.15%, accounting for 6.7% of revenue, reflecting the company's commitment to talent and innovation [3] Market Position and Client Relationships - The company has established long-term stable partnerships with numerous well-known enterprises in the industry, providing strong support for stable development and competitive advantage [3] - The company has a diverse product range, including optical components and systems, which are widely used in laser processing, infrared thermal imaging, and consumer optics [2] Industry Trends - The optical components industry is experiencing continuous growth due to the increasing application of optical components across various fields, driven by advancements in technology [4] - The global semiconductor manufacturing equipment market reached 117.1 billion USD in 2024, a 10% increase from 2023, indicating a significant market for optical components in semiconductor manufacturing [4] Future Opportunities - The optical components industry is expected to benefit from emerging technologies such as 5G, AI, and IoT, with potential explosive growth in demand for optical sensors in smart driving and new consumer electronics [5] - Domestic precision optical companies are likely to occupy a more significant position in the market as manufacturing upgrades and import substitution accelerate [5]

南京波长光电科技股份有限公司 关于为子公司提供担保额度预计的公告 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。 为满足南京波长光电科技股份有限公司（以下简称"公司"或"波长光电"） 子公司生产经营及业务开展需要，结合其 2025 年度实际向银行申请授信额度情 况，公司拟为合并报表范围内的子公司：江苏波长光电科技有限公司（以下简称 "江苏波长"）、光研科技南京有限公司（以下简称"光研科技"）、爱丁堡（南 京）光电设备有限公司（以下简称"南京爱丁堡"）提供总额不超过 16,000.00 万元人民币的融资本金担保额度，担保额度的有效期为自公司 2024 年年度股东 大会审议通过日至 2025 年年度股东大会召开之日止。在有效期内，担保额可循 环使用，最终为各子公司提供担保余额合计将不超过本次预计的担保总额。担保 额度可在子公司之间进行调剂，对于资产负债率超过 70%的担保对象，仅能从资 产负债率超过 70%的担保对象处获得担保额度。 证券代码：301421 证券简称：波长光电 公告编号：2025-021 公司于 2025 年 4 月 23 日召开第四届董事会第十七 ...

南京波长光电科技股份有限公司 关于续聘公司 2025 年度审计机构的公告 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。 证券代码：301421 证券简称：波长光电 公告编号：2025-020 特别提示： 1．拟续聘的会计师事务所名称：天职国际会计师事务所（特殊普通合伙）； 2．续聘会计师事务所符合财政部、国务院国资委、证监会印发的《国有企 业、上市公司选聘会计师事务所管理办法》（财会〔2023〕4 号）的规定。 南京波长光电科技股份有限公司（以下简称"公司"）2025 年 4 月 23 日召 开第四届董事会第十七次会议和第四届监事会第十六次会议，审议通过了《关于 续聘公司 2025 年度审计机构的议案》，拟续聘天职国际会计师事务所（特殊普 通合伙）（以下简称"天职国际"）为公司 2025 年度财务会计报告及内部控制 审计机构，本议案尚需提交股东大会审议，现将相关内容公告如下： 一、拟续聘会计师事务所的基本情况 （一）机构信息 1．基本信息 天职国际创立于 1988 年 12 月，总部北京，是一家专注于审计鉴证、资本市 场服务、管理咨询、政务咨询、税务服务、法 ...