如本方案获得股东大会审议通过， 2024 年度公司现金分红总额为 18,628,396.20 元；2024 年度以现金为对价，采用集中竞价、要约方式实施的股 份回购金额为 0 元。公司 2024 年度现金分红和股份回购总额为 18,628,396.20 证券代码：002861 证券简称：瀛通通讯 公告编号：2025-017 瀛通通讯股份有限公司 2024 年度利润分配方案 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。 一、审议程序 瀛通通讯股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开第五 届董事会第十四次会议、第五届监事会第九次会议，审议通过《2024 年度利润 分配方案》。该议案尚需提交公司股东大会审议。 二、利润分配方案的基本情况 经天健会计师事务所（特殊普通合伙）审计，2024 年公司实现归属于母公 司所有者的净利润为 13,454,475.54 元，加上 2023 年末滚存的未分配利润 219,105,948.38 元，减去 2024 年已派发现金股利 23,332,911.60 元，因此 2024 年度合并报表中可供股东分 ...

一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | -0.0900 | -0.0500 | -80 | -0.1200 | | 每股净资产（元） | 6.14 | 5.3 | 15.85 | 5.71 | | 每股公积金(元) | 3.85 | 2.63 | 46.39 | 2.59 | | 每股未分配利润(元) | 1.03 | 1.36 | -24.26 | 1.80 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 1.64 | 1.62 | 1.23 | 1.21 | | 净利润(亿元) | -0.17 | -0.08 | -112.5 | -0.19 | | 净资产收益率(%) | -1.51 | -0.96 | -57.29 | -2.11 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 4513.2万股，累计占流通股比： 3 ...

Financial Performance - The company's revenue for Q1 2025 was ¥164,238,455.53, representing a slight increase of 1.42% compared to ¥161,946,180.25 in the same period last year[5] - The net loss attributable to shareholders was ¥17,444,881.82, a significant increase of 117.30% from a loss of ¥8,027,844.04 in the previous year[5] - The net cash flow from operating activities was negative at ¥8,985,487.20, slightly worse than the previous year's negative cash flow of ¥8,692,991.36, reflecting a decline of 3.36%[5] - Total operating revenue for the current period was ¥164,238,455.53, an increase of 1.8% compared to ¥161,946,180.25 in the previous period[24] - Net profit for the current period was a loss of ¥17,444,881.82, compared to a loss of ¥8,027,844.04 in the previous period[25] - The company reported a comprehensive loss of ¥17,787,100.45, compared to a loss of ¥8,942,405.12 in the previous period[26] - Basic and diluted earnings per share were both -0.09, compared to -0.05 in the previous period[26] Assets and Liabilities - The company's total assets decreased by 4.31% to ¥1,583,013,807.60 from ¥1,654,343,042.44 at the end of the previous year[5] - The total current assets amount to 579,948,069.48 RMB, a decrease from 666,803,337.48 RMB at the beginning of the period, reflecting a decline of approximately 13.00%[21] - The total non-current assets are valued at 1,003,065,738.12 RMB, showing an increase from 987,539,704.96 RMB, representing a growth of about 1.55%[21] - Total liabilities decreased to ¥439,626,127.87 from ¥493,168,262.26, reflecting a reduction of approximately 10.9%[22] - Total current liabilities are 285,693,266.89 RMB, down from 340,358,971.50 RMB, reflecting a reduction of about 16.06%[21] - The company has a long-term loan of 130,720,150.88 RMB, which increased from 128,640,000.00 RMB, indicating a rise of approximately 0.84%[21] Cash Flow - The net cash flow from investment activities was positive at $40.45 million, a significant improvement from a negative $50.20 million in the previous period[28] - Cash inflow from investment activities totaled $232.71 million, while cash outflow was $192.27 million, indicating a healthy investment environment[28] - Cash flow from financing activities showed a net outflow of $1.46 million, compared to a net inflow of $10.14 million previously, reflecting changes in financing strategy[28] - The company reported a net increase in cash and cash equivalents of $30.82 million, contrasting with a decrease of $47.96 million in the prior period[28] - The ending balance of cash and cash equivalents stood at $114.37 million, up from $91.75 million at the end of the previous period[28] - Cash received from investment income was $935,081.07, while cash received from other investment-related activities was $231.78 million[28] - Total cash inflow from financing activities was $3.06 million, primarily from borrowings[28] - Cash paid for debt repayment was $3 million, indicating a focus on managing liabilities[28] - The impact of exchange rate fluctuations on cash and cash equivalents was positive, contributing $818,869.47[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,176, with the top 10 shareholders holding a combined 47.58% of shares[17] - Huang Hui is the largest shareholder, holding 24.00% of shares, amounting to 44,712,670 shares, with 10,500,000 shares pledged[17] - The top 10 shareholders do not participate in margin financing or securities lending activities[18] - The company has no preferred shareholders as indicated in the report[18] Expenses and Profitability - The gross profit margin decreased due to new projects still ramping up production efficiency, impacting profitability[9] - Selling expenses increased by 46.05% to ¥7,607,192.36, primarily due to increased brand promotion costs for the health segment[13] - Research and development expenses were ¥10,389,656.92, slightly down from ¥10,594,480.07 in the previous period[24] Strategic Focus - The company plans to enhance its core competitiveness through increased investment in brand promotion and channel development in the health sector[9] - The company is focusing on expanding its product line into noise-reducing home appliances, which are expected to provide new revenue growth points despite lower margins compared to traditional acoustic products[9] Audit Status - The first quarter report was not audited, which may affect the perception of financial reliability[29]

Financial Performance - The company's operating revenue for 2024 was ¥815,156,160.34, an increase of 8.08% compared to ¥754,218,559.90 in 2023[6]. - The net profit attributable to shareholders for 2024 was ¥13,454,475.54, a significant turnaround from a loss of ¥79,034,764.02 in 2023, representing a 117.02% improvement[6]. - The basic earnings per share for 2024 was ¥0.08, compared to a loss of ¥0.51 per share in 2023, marking a 115.69% increase[6]. - The total assets at the end of 2024 were ¥1,654,343,042.44, a slight increase of 0.68% from ¥1,643,235,237.78 at the end of 2023[6]. - The company's cash flow from operating activities showed a negative net amount of ¥14,295,311.25 in 2024, a decline of 132.19% from ¥44,405,849.26 in 2023[6]. - The company reported a significant increase in net assets attributable to shareholders, which rose by 37.58% to ¥1,161,174,780.18 in 2024 from ¥844,024,701.38 in 2023[6]. - The company achieved operating revenue of 815 million yuan, an increase of 8.08% compared to the same period last year[53]. - Net profit reached 13.45 million yuan, a significant increase of 117.02% year-on-year[53]. - The company reported a total investment of ¥127,944,508.74 during the reporting period, reflecting a 9.22% increase compared to ¥117,147,287.54 in the previous year[88]. Market Trends and Opportunities - The global PC market is expected to grow by 3.8% in 2024, reaching a total shipment of 255 million units, which will positively impact the company's product demand[27]. - The tablet market is projected to see a year-on-year growth of 9.2% in 2024, with total shipments reaching 14.76 million units, providing further opportunities for the company's offerings[27]. - In the smartphone sector, global smartphone shipments are expected to grow by 7% in 2024, reaching 1.22 billion units, marking a rebound after two consecutive years of decline[28]. - The global wearable wristband market is projected to achieve a steady growth of 4% in 2024, with shipments reaching 193 million units[29]. - The global personal smart audio device shipments, including TWS and wireless headphones, are expected to reach 455 million units in 2024, reflecting an 11.2% year-on-year growth[29]. - The global TWS market is expected to see shipments of 330 million units in 2024, representing a 13% year-on-year increase, indicating a recovery in growth[29]. - The global healthcare market is anticipated to reach $9.1 trillion in 2024, with a compound annual growth rate (CAGR) of 5.2%[115]. - China's healthcare market is expected to reach 11.2 trillion yuan by 2025, with a CAGR exceeding 10% from 2015 to 2025[116]. Strategic Initiatives - The company is focusing on expanding its product lines in the consumer electronics sector, particularly in acoustic products and precision components, to capitalize on the growing market demand[27]. - The company is focusing on the development of medical devices and health products, including hearing aids and sleep sound devices, with ongoing efforts in business expansion and product R&D[30]. - The company aims to become a leading provider of comprehensive solutions in the fields of "big acoustics, big transmission, and big health" as part of its strategic vision[31]. - The company plans to expand its product applications in medical devices, security, and new energy vehicles, leveraging its expertise in precision manufacturing and technology[35]. - The company is exploring new business opportunities in the "big health" sector, including smart hearing aids and health monitoring products[112]. - The company aims to enhance its competitive edge by integrating existing and new business lines, focusing on technology innovation and product development[114]. - The company will enhance its capabilities in design, product R&D, smart manufacturing, quality control, cost management, and customer service to provide industry-leading solutions[119]. Governance and Management - The company has established a management system for foreign exchange hedging business, detailing operational principles, personnel allocation, approval authority, and risk management[95]. - The board consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements and active participation in governance[137]. - The company maintains a complete and independent financial structure, with no guarantees provided for the debts of controlling shareholders, ensuring protection of minority shareholders' interests[145]. - The company has a fully independent operational system, with no reliance on controlling shareholders for procurement, production, or sales, ensuring market independence[147]. - The leadership team is committed to enhancing corporate governance and compliance, with independent directors providing oversight[158][161]. - The company has established a robust internal control and audit system, led by Ms. Hu Kang, the chairwoman of the supervisory board[161]. Employee and Talent Management - The company has established a comprehensive compensation and benefits management system, including performance bonuses and employee stock ownership plans to retain key talent[181]. - The company has a training program that includes new employee orientation, on-the-job training, and leadership training, emphasizing continuous professional development[182]. - The total number of employees at the end of the reporting period was 2,113, with 1,594 in production, 71 in sales, 190 in technology, 31 in finance, and 227 in administration[180]. - The company has confirmed compliance with its cash dividend policy, ensuring transparency and protection of minority shareholders' rights[186]. - The company has strengthened its talent strategy, hiring over 200 professionals and promoting more than 70 outstanding talents during the reporting period[58]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report, highlighting potential operational risks and corresponding mitigation strategies[5]. - The company faces foreign exchange fluctuation risks due to high export sales, with measures in place for centralized management and hedging strategies to mitigate these risks[125]. - Trade disputes and rising international trade costs pose risks to the company's performance, which will be addressed through improved cash flow management and enhanced R&D investment[126]. - The company faces risks due to high customer concentration, primarily relying on international terminal brands and large EMS manufacturers, which could negatively impact performance if key customers' purchasing levels change significantly[129]. - Major raw materials include copper, aramid fiber, rubber, speakers, PCBA, plastic parts, Type-C interface components, and connectors; significant price fluctuations in these materials could greatly affect profitability[130]. Investment and Financial Management - The total amount raised from the public offering of convertible bonds was 30,000,000 CNY, with a net amount received of 29,523,000 CNY after deducting underwriting fees[100]. - The actual net amount of raised funds was 293,311,320.75 CNY, which will be used for the construction of a new production base for smart wireless acoustic products and to supplement working capital[100]. - The company has implemented measures to control risks associated with foreign exchange hedging, including only trading with approved financial institutions[95]. - The company has launched several new products, including smart wearable watches and open-air translation headsets, which are now in mass production[72]. - The company has approved the use of up to 20,000 million RMB of temporarily idle raised funds for cash management, investing in low-risk financial products[104]. Shareholder Engagement - The annual shareholders meeting on May 16, 2024, had an investor participation rate of 51.77%[149]. - The first extraordinary shareholders meeting on August 5, 2024, had an investor participation rate of 52.04%[149]. - The second extraordinary shareholders meeting on November 13, 2024, had an investor participation rate of 48.53%[149]. - The company has confirmed a share-based payment expense of CNY 1,921,608 during the reporting period related to the employee stock ownership plan[192]. - The employee stock ownership plan did not participate in any shareholder meetings or exercise other shareholder rights during the reporting period[190].

Core Insights - The Chinese electroacoustic device industry is experiencing significant growth, with the market size projected to increase from 30.53 billion yuan in 2019 to 45.64 billion yuan by 2024, driven by demand from consumer electronics, automotive, and smart home applications [1][9][12] - The industry is characterized by a complex supply chain that includes raw material suppliers, manufacturing, and end-user applications, with a focus on technological innovation and environmental sustainability [4][24] - The industry has evolved through three stages: initial reliance on imports, rapid growth due to economic reforms and consumer electronics boom, and a current phase of transformation towards high-tech and internationalization [6][7] Industry Definition and Classification - Electroacoustic devices are electronic components that convert electrical signals into sound waves and vice versa, widely used in consumer electronics, automotive electronics, medical devices, and security systems [2] Industry Development Status - The market for electroacoustic devices in China is on an upward trend, with a projected market size of 45.64 billion yuan by 2024, driven by advancements in 5G, IoT, and AI technologies [9][12] - The consumer electronics sector dominates the downstream applications, accounting for 62% of the market, followed by automotive electronics at 18% [12] Downstream Application Analysis - The smartphone market has seen fluctuations, with a recovery expected in 2023, leading to increased demand for electroacoustic components such as receivers and speakers [14] - The automotive sector is emerging as a new growth point for the industry, with increasing demand for in-car audio systems and voice interaction technologies [9][12] Key Companies in the Industry - AAC Technologies and GoerTek are leading companies in the electroacoustic device sector, focusing on high-end acoustic solutions and expanding into emerging markets like VR/AR [16][18] - Other notable companies include Jiangsu Yuanyu Electronics, Guoguang Electric, and Shengda Technology, each specializing in different segments of the market [16][17] Future Development Trends - The industry is moving towards miniaturization and integration of electroacoustic devices, driven by the demand for compact and multifunctional components in consumer electronics [21] - There is a growing trend towards smart and adaptive functionalities in electroacoustic devices, enhancing user experience through features like noise cancellation and voice recognition [22][23] - Industry consolidation and collaborative development among supply chain participants are key to driving innovation and improving efficiency [24]

Investment Rating - The industry rating is optimistic, expecting an overall return exceeding 5% above the CSI 300 index in the next six months [12] Core Insights - The report highlights a positive market trend with the Shanghai Composite Index increasing by 0.76%, the Shenzhen Composite Index by 1.15%, and the ChiNext Index by 1.12% on the day of the report [3] - The electronic sector shows varied performance, with significant gains in passive components (+1.58%), optical components (+1.79%), and other electronic segments (+2.93%), while semiconductor equipment experienced a slight decline (-0.47%) [3] - Notable individual stock performances include Shiyi Da (+10.01%), Shenzhen Huachuang (+10.00%), and Yingtong Communications (+9.99%) [3] Summary by Relevant Sections Industry Performance - The electronic sector's performance is mixed, with certain sub-sectors like brand consumer electronics and optical components showing strong growth, while semiconductor materials and equipment lag behind [3] Company Performance - Ruikeda reported a revenue of 241.47 million yuan for 2024, a 55.29% increase year-on-year, with a net profit of 17.53 million yuan, up 28.11% [4] - Dongshan Precision achieved a revenue of 367.91 million yuan for 2024, a 9.33% increase, and projected a net profit of 4.34 million to 4.63 million yuan for Q1 2025, representing a growth of 50%-60% [4] - Zhongjing Electronics reported a revenue of 2.93 billion yuan for 2024, an 11.79% increase, and expects a net profit of 5.5 million to 8 million yuan for Q1 2025, marking a significant improvement [5] - Xiehe Electronics achieved a revenue of 88.66 million yuan for 2024, a 20.89% increase, with a net profit of 7.13 million yuan, up 90.97% [5] - Shenzhen Huachuang anticipates a net profit of 9.64 million to 11.48 million yuan for Q1 2025, a growth of 68%-100% [5] - Guanghua Technology expects a net profit of 2.2 million to 2.8 million yuan for Q1 2025, a substantial increase of 479.25%-637.23% [5]

Core Viewpoint - The recent exemption of certain products from "reciprocal tariffs" by the U.S. government has positively impacted Apple-related stocks in both A-shares and Hong Kong markets, indicating a potential recovery opportunity for companies in the Apple supply chain [1][2]. Group 1: Market Reaction - A-shares related to Apple, such as Chaoyang Technology, Ultrasonic Electronics, and Yingtong Communications, saw significant gains, with some hitting the daily limit [1]. - Hong Kong-listed Apple-related stocks also opened strong, with notable increases in shares of companies like Highway Electronics and Sunny Optical Technology [1]. Group 2: Tariff Exemption Details - The U.S. memorandum released on April 12 exempted certain products, including computers, smartphones, semiconductor manufacturing equipment, and integrated circuits, from reciprocal tariffs [1]. - The exemption list includes products from major brands like Apple, Samsung, Lenovo, and Meta, which could alleviate previous market pressures on these companies [1][2]. Group 3: Company Insights - Chaoyang Technology, established in 2005 and listed in 2020, specializes in acoustic products and precision components, and has entered the supply chains of notable brands like Apple and Beats [2]. - Analysts believe that the recent tariff exemption could provide a recovery opportunity for Apple supply chain companies, which had previously experienced significant declines [2]. Group 4: Analyst Perspectives - Huatai Securities suggests that the tariff exemption is beneficial for domestic Apple supply chain and PCB companies, with future focus likely shifting back to overall demand and innovation pace [2]. - Xinda Securities notes that despite uncertainties and potential policy changes, the significant market corrections since the announcement of the tariffs have led to a substantial deviation of stock valuations from fundamentals, indicating a potential recovery opportunity [2].

Group 1 - The article highlights the active sectors including consumer electronics, Apple, optical communication, AI smartphones, Nvidia, semiconductors, robotics, lithium batteries, and photovoltaics [2] - Apple-related stocks surged significantly following the U.S. government's decision to exempt tariffs on electronic products such as smartphones, computers, and chips, leading to substantial gains for companies like Chaoyang Technology and Songshan Electronics [4] - The sports sector also saw a rise, with multiple stocks hitting the limit-up, driven by new financial support policies for the sports industry issued by several Chinese regulatory bodies [6][8] Group 2 - The report indicates that the A-share market is expected to gradually shake off short-term disturbances, with sectors benefiting from domestic demand and consumption policies being worth attention, including home appliances, food and beverage, and retail [10] - Goldman Sachs maintains a positive outlook on A-shares compared to Hong Kong stocks, emphasizing the attractiveness of consumer and high-tech sectors due to relatively low valuation levels in the Chinese market [11]

行情速递 ①主板领涨， 瀛通通讯(+10.01%)/永鼎股份(+10.00%)/鸿远电子(+9.99%)/旭光电子(+6.88%)/ 共达电声(+6.72%)/ ②创业板领涨， 唐源电气(+13.13%)/宏达电子(+8.93%)/金现代(+4.81%)/ ③科创板领涨， 三孚新科 (+10.38%)/国光电气(+8.91%)/锴威特(+7.99%)/ ④活跃子行业， SW军工电子Ⅲ(+0.71%)/SW被动元件(+0.42%)/ 国内新闻 ① 半导体产业纵横，新凯来宣布/已完成13类关键量检测产品开发/并在国内 逻辑/存储和化合物的主要半导体制造企业开始量产应用/ ② 半导纵横，台积电法人表示/ 2nm准备就绪/破除苹果A20芯片不采用 2nm传言/2026年下半年新款iPhone（iPhone 18）处理器将采用2nm技术/ ③ 集邦化合物半导体，近期/晶驰机电成功开发出电阻法12寸碳化硅晶体生 长设备/实现碳化硅晶体生长技术新突破/臻晶半导体自主研发液相法碳化硅 电阻炉技术/突破行业瓶颈/ ④ 全球半导体观察，近日/位于宁夏银川的高温超导硅单晶设备及晶体生产 项目正式破土动工/该项目计划投资100亿元/ ...

Market Performance - The main board saw significant gains with Reader Media up by 10.06%, Yingtong Communication up by 10.03%, and Fenda Technology up by 10.00% [1] - The ChiNext board led with Reader Culture increasing by 19.96%, Yuan Dao Communication up by 9.89%, and CITIC Publishing up by 6.14% [1] - The Sci-Tech Innovation board was led by Guoguang Electric up by 9.48%, Anji Technology up by 7.24%, and Hengxuan Technology up by 6.82% [1] - Active sub-industries included SW Semiconductor Equipment up by 1.71% and SW Mass Publishing up by 1.35% [1] Domestic News - Aibao VR industry news reported the launch of MIJIA smart audio glasses 2, priced at 999 yuan, featuring a 5mm thin frame and 27.6g weight with 12 hours of continuous listening [1] - Semiconductor Investment Alliance announced Chuguang 3D completed several million yuan in angel financing, focusing on optical 3D imaging and measurement technology [1] - NIO plans to gradually use self-developed chips in future models, claiming superior edge inference capabilities compared to current flagship chips [1] - Chinese Academy of Sciences developed a breakthrough solid-state deep ultraviolet laser emitting coherent light at 193 nanometers, relevant for semiconductor exposure technology [1] Company Announcements - Walden Materials announced a guarantee progress report, signing a maximum guarantee contract with Shanghai Bank for a maximum debt principal of 500 million yuan [2] - Zhongyuan Media reported a 2024 annual performance forecast with total revenue of 9.857 billion yuan, a year-on-year increase of 0.24%, and a profit total of 1.348 billion yuan, up by 10.93% [2] - Lu Wei Optoelectronics plans to invest 2 billion yuan in a high-precision photomask production base project in Xiamen [2] - Victory Precision announced a financing lease of 10.4738 million yuan for business operations with Zhengqi Financing Leasing [2] International News - Malaysia's Trade Minister stated that the U.S. requested close monitoring of high-end NVIDIA chip movements into Malaysia, suspecting many chips may end up in China, violating U.S. export regulations [3] - Google confirmed the launch of new AI features on the Gemini Live platform, enabling AI to view user device screens or camera feeds and respond to queries [3] - Samsung Display announced a 50% increase in quantum dot OLED shipments this year compared to last year, aiming to expand its product line and market share [3] - Microchip announced a partnership with Macquarie to guide marketing and sales activities for its Arizona Fab 2 wafer fab, which has a capacity of 20,000 wafers per month [3]