证券代码：300232 证券简称：洲明科技 深圳市洲明科技股份有限公司投资者关系活动记录表 编号：2025-011 投资者关系活动 类别 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 ■其他（2025 年度深圳辖区上市公司投资者网上集体接待日活 动） 参与单位名称 投资者网上提问 时间 2025 年 11 月 20 日 (周四) 下午 14:30-17:00 地点 全景网"投资者关系互动平台"（https://ir.p5w.net） 上市公司接待人 员姓名 独立董事 甘耀仁 财务总监 王群斌 副总经理、董事会秘书 陈一帆 投资者关系活动 主要内容介绍 1、第六期员工持股和实控人减持的计划连续到期未实施 情况说明，并就上述操作导致公司信誉下降如何弥补？ 答：您好！公司基于对未来发展前景的信心，在第六期员 工持股计划经董事会审议通过终止实施后，继而推出第二期事 业合伙人持股计划，资金规模上限提升至 1 亿元，目前第二期 事业合伙人持股计划正稳步推进，相关进展情况详见后续在指 定信息披露网站巨潮资讯网披露的公告。公司实控人同样出于 对公司未来发展前景的认可，在前次减持 ...

| | 皇公园 都在用的商业查询丁 ! | 音老板 音关系 音风险 | | | --- | --- | --- | --- | | | 家中小企业发展子某全旗下机构 | 深圳市智显机器人科技有限公司 × 天眼一下 龄应用 ▼ | 商务合作 1 | | 基本信息 15 | 法律诉讼 | 经营风险 经营信息 1 公司发展 | 知认 | | 工商信息 ● | | | | | 工商信息 历史工商信息0 | | | | | 企业名称 | 深圳市智显机器人科技有限公司 | | | | 法定代表人 | 林 林洛锋 怒关联企业 17 | 登记状态 2 存续 | 天眼评分 ② | | | | 成立日期 2025-11-17 | | | 统一社会信用代码 2 | 91440300MAK1BU6Q7J | 注册资本 ② 5000万人民币 | 实缴资本 | | 工商注册号 | 440300227489272 | 纳税人识别号 2 91440300MAK1BU6Q7J | 组织机构代码 C | | 营业期限 | 2025-11-17 至 无固定期限 | 纳税人资质 | 核准日期 | | 企业学型 | 有限责任公司 | 行业 研究和试验 ...

Core Insights - The company reported a strong performance in Q3 2025, with total revenue exceeding 10 billion yuan, representing a year-on-year growth of 42% [1] - Operating profit reached approximately 400 million yuan, indicating a significant enhancement in profitability [1] - The growth is primarily driven by robust demand in the AI computing supply chain business and accelerated commercialization of self-developed products, particularly the System on Module (SOM) [1] Business Performance - The company is a key supplier in the AI computing supply chain, collaborating deeply with renowned chip manufacturers such as NVIDIA, Xilinx, Intel, AMD, Sandisk, and Microsoft [1] - It has achieved notable results in two core business areas: "AI infrastructure" and "AI intelligent terminals," providing high-performance GPU cluster solutions to leading internet companies like Meituan and participating in national computing infrastructure projects [1] - The company is also expanding into high-growth sectors such as humanoid robots and autonomous driving, offering customized AI solutions at the edge [1] Self-Developed Products - The self-developed SOM products have been successfully implemented in high-standard scenarios such as customs and banks, achieving mass delivery [2] - This success reflects the company's technical integration capabilities and an upgrade in its business model [2] - The company plans to continue iterating and upgrading its SOM product matrix around the next generation of AI core chips, positioning it as a core pillar for future growth [2]

Core Insights - The company achieved a revenue of 53.663 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 16.08%, with a net profit attributable to shareholders of 2.843 billion yuan, up 19.91% year-on-year [1] - The sales growth of the iPhone 17 has positively impacted the company's performance, with significant revenue and profit growth in the third quarter [1] - The company is strengthening its layout in the AI smart terminal era, with a focus on foldable screens and advanced manufacturing capabilities [2] Financial Performance - In Q3 2025, the company reported a revenue of 20.702 billion yuan, a year-on-year increase of 19.25%, and a net profit of 1.700 billion yuan, up 12.62% year-on-year [1] - The non-net profit attributable to shareholders for Q3 was 1.763 billion yuan, reflecting a year-on-year growth of 22.67% [1] Market Trends - The AI smart terminal market is experiencing rapid growth, necessitating hardware design and performance upgrades [2] - The foldable screen market is expanding, with multiple new products expected to launch between 2024 and 2025, which will drive demand for related components [2] Business Strategy - The company is positioned as a one-stop precision manufacturing solution provider for the new smart terminal industry, covering various products including smartphones, computers, and smart vehicles [3] - The company has made significant progress in providing components for AR glasses and is expected to enhance its product value through advanced manufacturing capabilities [3] Growth Opportunities - The emergence of AI edge products and key components for embodied intelligence will provide new growth momentum for the company [4] - The smart automotive business is rapidly growing, with the successful introduction of ultra-thin laminated car windows to leading domestic automakers [5]

Core Insights - The report highlights the significant performance differentiation among 419 actively managed equity funds established in 2015, with a focus on long-term returns and strategic adjustments in holdings [1] Fund Performance - Only 2 funds have surpassed 10 billion yuan in size, namely Dachen Gaoxin A (16.623 billion yuan) and Zhongou Shidai Xianfeng A (12.251 billion yuan) [2] - Dachen Gaoxin A has achieved a cumulative return of 416.25% since its inception, with an annualized return of 16.51%, growing from 176 million yuan to 16.623 billion yuan, a nearly 95-fold increase [2][6] - Zhongou Shidai Xianfeng A has a total return of 345.15% over 10 years, with an annualized return of 16.12%, ranking 5th among 136 similar funds [6] Portfolio Composition - The funds have invested heavily in leading companies across various sectors, including China Mobile, Midea Group, Haomai Technology, and Tencent, reflecting a balanced approach between stable blue-chip stocks and high-growth companies [4] - Significant adjustments were made in the third quarter, with major reductions in cyclical and overseas assets, including a 43.91% reduction in China National Offshore Oil Corporation and a 22.07% reduction in Fuyao Glass [6][7] Investment Strategy - The fund managers emphasize a long-term investment philosophy focused on stock selection and understanding business fundamentals, contrasting with short-term trading behaviors [6][10] - In the AI sector, the funds are investing in areas such as humanoid robots, autonomous driving, and AI smart terminals, driven by positive industry trends and commercial viability [10] Market Trends - The report indicates a trend of increasing investment in cyclical and high-end manufacturing sectors, with notable increases in holdings of Wanhuachina and Sany Heavy Industry by 20.75% and 19.10%, respectively [9] - The balance between fund performance and size is highlighted as a critical consideration for fund managers and investors, with larger funds potentially facing flexibility issues and smaller funds at risk of liquidation [10]

Group 1: Regulatory and Market Developments - The China Securities Regulatory Commission (CSRC) emphasizes enhancing the resilience and risk resistance of the capital market, improving the inclusiveness and adaptability of market systems, and strengthening regulatory effectiveness and deterrence [2] - The Ministry of Industry and Information Technology (MIIT) is revising the "Steel Industry Capacity Replacement Implementation Measures," aiming to prevent inefficient investments and restrict new steel production capacity in key areas [3] Group 2: Company Performance - Ecovacs Robotics reported a net profit of 438 million yuan in Q3, a year-on-year increase of 7160.87%, with a total net profit of 1.418 billion yuan for the first three quarters, up 130.55% [6] - Gree Electric achieved a revenue of 681.07 billion yuan in the first three quarters, a decrease of 2.21%, but a net profit of 25.87 billion yuan, an increase of 10.33% [6] - Dongfang Fortune's Q3 total revenue reached 4.733 billion yuan, up 100.65%, with a net profit of 3.53 billion yuan, an increase of 77.74% [6] - Antong Holdings reported Q3 revenue of 2.152 billion yuan, up 18.85%, and a net profit of 152 million yuan, up 2155.18% [6] - Guoxuan High-Tech's Q3 revenue was 10.114 billion yuan, up 20.68%, with a net profit of 2.167 billion yuan, a significant increase of 1434.42% [7] Group 3: Corporate Actions - Meili Technology announced a major asset restructuring plan involving the acquisition of 100% equity in Hitched Holdings 3 B.V., enhancing synergies in the automotive parts industry [8] - Huamai Technology terminated a planned share transfer that could have led to a change in control, with its stock set to resume trading on October 27 [8] - EVE Energy announced a share transfer plan involving up to 40.776 million shares, representing 2% of its total share capital, to repay debts and meet corporate development needs [10]

Financial Performance Highlights - San Chuan Wisdom reported a net profit of 143.89 million yuan, a year-on-year increase of 101.23%, with total revenue of 827.84 million yuan, down 25.53% [1] - Dian Guang Media achieved a net profit of 132.11 million yuan, up 116.61%, with revenue of 3.19 billion yuan, an increase of 16.32% [1] - Jin Kai BioScience's net profit surged by 163.24% to 103.43 million yuan, with revenue of 487.72 million yuan, up 25.96% [2] - He Ren Technology's net profit skyrocketed by 1,292.86% to 12.94 million yuan, despite a slight revenue decline of 0.33% to 263.46 million yuan [3] - Ming Tai Aluminum's net profit for Q3 increased by 35.94% to 464 million yuan, while total revenue for the first three quarters was 25.87 billion yuan, up 9.38% [4] - Jin Cai Interconnect reported a staggering net profit growth of 1,697.84% to 57.52 million yuan, with revenue of 750.02 million yuan, down 17.32% [5] - Chi Feng Gold's Q3 net profit rose by 140.98% to 951 million yuan, with revenue of 3.37 billion yuan, up 66.39% [6] - Chu Jiang New Materials reported a net profit of 355.17 million yuan, a year-on-year increase of 2,089.49%, with revenue of 44.19 billion yuan, up 13.29% [8] - Guo Xuan High-Tech's net profit increased by 514.35% to 2.53 billion yuan, with revenue of 29.51 billion yuan, up 17.21% [16] - Sichuan Changhong's Q3 net profit grew by 690.83% to 50.7 million yuan, despite a revenue decline of 2.69% to 25.18 billion yuan [17] - Kewo Technology's Q3 net profit surged by 7,161% to 438 million yuan, with revenue of 4.20 billion yuan, up 29.26% [16] Strategic Developments - GreenMei signed a strategic cooperation framework agreement with Xiamen Xatong New Energy to supply 150,000 tons of battery materials annually from 2026 to 2028 [4] - Hunan Development plans to invest 2.4 billion yuan in a photovoltaic power generation project with a capacity of 800MW [9] - Weston intends to use 160 million yuan of raised funds to acquire and increase investment in Liangtou Technology, aiming for a controlling stake [7] - Zhaopin Technology announced a joint investment with Zhizhu and Yuankeshi to establish Shenzhen Zhixian Robot Technology Co., with a registered capital of 50 million yuan [12] - Jiangsu Long Power's controlling shareholder secured a loan of up to 7.2 billion yuan specifically for stock repurchase [22][23]

Core Viewpoint - Unilumin Technology plans to invest in a joint venture, Shenzhen Zhixian Robotics Co., Ltd., with two other companies to enhance AI smart terminal solutions through technology collaboration [2][5]. Group 1: Investment Details - The registered capital for Shenzhen Zhixian Robotics is set at 50 million yuan, with Unilumin contributing 25 million yuan for a 50% stake [2][5]. - Beijing Zhipu Huazhang Technology Co., Ltd. will invest 15 million yuan for a 30% stake, while Beijing Yuanke Shijie Technology Co., Ltd. will invest 10 million yuan for a 20% stake [2][5]. Group 2: Strategic Objectives - The investment aims to integrate the core technological advantages of the three parties to build an innovative ecosystem in the AI smart terminal field [2][5]. - The collaboration will focus on creating an integrated solution combining algorithm models, hardware terminals, and perceptual interaction, providing comprehensive support from model training to software and hardware integration [2][5]. Group 3: Market Application - The technology fusion is expected to facilitate the implementation of intelligent displays in various sectors, including education, meetings, and cultural tourism, thereby promoting industry intelligence upgrades [2][5].

Core Viewpoint - The company, Feirongda, anticipates significant growth in net profit for the first three quarters of 2025, driven by market expansion and operational efficiency improvements [1][2] Group 1: Financial Performance - Feirongda expects net profit attributable to shareholders for the first three quarters of 2025 to be between 275 million and 300 million yuan, representing a year-on-year increase of 110.80% to 129.96% [1] - For the third quarter of 2025, the anticipated net profit is projected to be between 109 million and 134 million yuan, reflecting a year-on-year growth of 100% to 145.91% [1] Group 2: Market Expansion and Product Development - The company has been actively exploring emerging market sectors and enhancing its supply chain operations, leading to stable revenue growth in the first three quarters of 2025 [1] - Increased demand for electromagnetic shielding and thermal management materials in the consumer electronics market has contributed to a rise in market share, aided by new projects from key clients [2] - Feirongda is focusing on product and process innovation, which has led to improved profitability in the consumer electronics sector [2] Group 3: New Energy Vehicle Sector - The company is experiencing positive growth in the new energy vehicle sector, with ongoing project orders contributing to increased sales revenue [2] - The stable delivery of new project orders in the new energy sector has resulted in higher capacity utilization and the gradual realization of economies of scale [2]

Core Viewpoint - The company, Feirongda, anticipates significant revenue and profit growth for the first three quarters of 2025, driven by increased investment in cutting-edge technologies and a recovering consumer electronics market [1] Financial Performance - The company expects to achieve approximately 4.617 billion yuan in revenue for the first three quarters of 2025, representing a year-on-year increase of about 29.95% [1] - For the same period, the net profit attributable to shareholders is projected to be between 275 million and 300 million yuan, reflecting a growth of 110.80% to 129.96% compared to the previous year [1] - The net profit after deducting non-recurring gains and losses is estimated to be between 238 million and 263 million yuan, indicating a growth of 101.76% to 122.95% year-on-year [1] - In the third quarter alone, the company anticipates revenue of approximately 1.734 billion yuan and a net profit of between 108 million and 133 million yuan, with the latter showing a year-on-year growth of 100.00% to 145.91% [1] Growth Drivers - The company attributes its performance growth to increased R&D investment in advanced fields such as server liquid cooling and AI smart terminals, which has led to improved profitability [1] - The recovery in consumer electronics market demand and technological upgrades have significantly boosted the demand and usage of electromagnetic shielding and thermal management materials and devices, enhancing the company's market share in the consumer electronics sector [1] - The business related to AI server cooling is progressing well with key clients, contributing to revenue growth [1] - The company's dexterous hand-related business is also advancing, with products currently undergoing certification with domestic clients and in the sampling and testing phase, laying the groundwork for future business expansion [1]