中科飞测 2024 年年度股东大会 证券代码：688361 证券简称：中科飞测 深圳中科飞测科技股份有限公司 会议资料 中科飞测 2024 年年度股东大会 中科飞测 2024 年年度股东大会 深圳中科飞测科技股份有限公司 为保障深圳中科飞测科技股份有限公司（以下简称"公司"）全体股东的合法 权益，维护股东大会的正常秩序，保证股东大会的议事效率，确保本次股东大会 如期、顺利召开，根据《中华人民共和国公司法》（以下简称"《公司法》"） 《深圳中科飞测科技股份有限公司章程》（以下简称"《公司章程》"）《深圳 中科飞测科技股份有限公司股东大会议事规则》及中国证券监督管理委员会、上 海证券交易所的有关规定，特制定本会议须知： 一、为确认出席大会的股东（或股东代表）或其他出席者的出席资格，会议 工作人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、为保证本次股东大会的严肃性和正常秩序，切实维护与会股东（或股东 代表）的合法权益，除出席会议的股东（或股东代表）、公司董事、监事、高级 管理人员、见证律师及董事会邀请的人员外，公司有权依法拒绝其他人员进入会 场。 三、请出席会议的股东（或股东代表）在会议召开 ...

Core Viewpoint - The company reported a revenue increase of 24.9% year-on-year for Q1 2025, but faced a significant decline in net profit, indicating challenges despite revenue growth [1][2]. Financial Performance - In Q1 2025, the company achieved a revenue of 290 million yuan, a year-on-year increase of 24.9%, but a quarter-on-quarter decrease of 48.2% - The net profit attributable to the parent company was -15 million yuan, a year-on-year decline of 144% - The non-recurring net profit was -43 million yuan [1][2] - The gross margin for Q1 2025 was 58.1%, with year-on-year increases of 3.7 percentage points and 7.5 percentage points compared to the previous quarter - The net profit margin was -5.1%, with the decline attributed to increased R&D and share-based payment expenses [2] Expense Analysis - The expense ratios for sales, management, R&D, and finance in Q1 2025 were 9.9%, 15.1%, 40.9%, and 1.6%, respectively, showing year-on-year increases of 2.5, 4.9, 9.8, and 2.9 percentage points - The increase in expense ratios was primarily due to the implementation of the 2024 Restricted Stock Incentive Plan, which significantly raised share-based payment expenses - Inventory at the end of Q1 2025 was 2.04 billion yuan, reflecting a 16.5% increase from the end of 2024, indicating potential for future performance growth [4] Product Development and Market Position - The company focuses on high-end semiconductor quality control, with ongoing product upgrades and iterations - In Q1 2025, the company maintained its product layout of nine series of equipment and three series of software, with a growing order scale and successful progress in new product validation - The continuous upgrade of products is expected to enhance the company's operational scale and profitability in the future [3][4] Revenue and Profit Forecast - The company forecasts revenues of 2.1 billion yuan, 3 billion yuan, and 4.4 billion yuan for 2025-2027, with year-on-year growth rates of 49%, 48%, and 43% - Expected net profits for the same period are 243 million yuan, 465 million yuan, and 671 million yuan, with year-on-year growth rates of 2209%, 91%, and 44% - The corresponding price-to-earnings ratios for the current market capitalization are projected to be 108x, 57x, and 39x [5]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company achieved a revenue of 290 million yuan in Q1 2025, representing a year-on-year increase of 24.9%, while the net profit attributable to the parent company was -15 million yuan, a decline of 144% year-on-year [5][7] - The gross margin for Q1 2025 was 58.1%, showing significant improvements both year-on-year and quarter-on-quarter [7] - High R&D investment is driving product upgrades, with a successful verification of new products [7] - The company focuses on high-end semiconductor quality control, with continuous upgrades and a growing order scale [7] - Revenue forecasts for 2025-2027 are 2.1 billion yuan, 3 billion yuan, and 4.4 billion yuan, with corresponding net profits of 243 million yuan, 465 million yuan, and 671 million yuan, indicating substantial growth [7][10] Summary by Sections Recent Performance - The company reported a revenue of 290 million yuan in Q1 2025, with a year-on-year growth of 24.9% and a quarter-on-quarter decline of 48.2% [5][7] - The net profit attributable to the parent company was -15 million yuan, with a significant year-on-year decline of 144% [5][7] - The gross margin improved to 58.1%, with increases of 3.7 percentage points year-on-year and 7.5 percentage points quarter-on-quarter [7] Investment Highlights - The company has high R&D expenditures, which are essential for product upgrades and have led to increased share-based payment expenses [7] - The sales, management, R&D, and financial expense ratios for Q1 2025 were 9.9%, 15.1%, 40.9%, and 1.6%, respectively, reflecting significant year-on-year increases [7] - The company maintains a diverse product portfolio with nine series of equipment and three series of software, with a growing order scale and successful new product verifications [7] Financial Projections - Revenue projections for 2025, 2026, and 2027 are 2.1 billion yuan, 3 billion yuan, and 4.4 billion yuan, with year-on-year growth rates of 49%, 48%, and 43% respectively [7][10] - The net profit forecasts for the same period are 243 million yuan, 465 million yuan, and 671 million yuan, with growth rates of 2209%, 91%, and 44% respectively [7][10] - The current market valuation shows a PE ratio of 108 times for 2025, decreasing to 39 times by 2027 [7][10]

风险高、业绩不稳定、退市风险高等特点，投资者面临较大的市场风险。投 资者应充分了解科创板市场的投资风险及本公司所披露的风险因素，审慎作 出投资决定。 深圳中科飞测科技股份有限公司 Skyverse Technology Co., Ltd. （深圳市龙华区观澜街道新澜社区观光路 1301-14 号 101、102） 首次公开发行股票并在科创板上市 招股说明书 保荐人（主承销商） （中国（上海）自由贸易试验区商城路 618 号） 02zhon 本次发行股票拟在科创板市场上市，科创板公司具有研发投入大、经营 深圳中科飞测科技股份有限公司 招股说明书 本次发行概况 | 发行股票类型 | 人民币普通股（A 股） | | | | --- | --- | --- | --- | | 发行股数 | 本次公开发行股份 股，占本次发行后公司总股本的 80,000,000 | | | | | 25%，本次发行均为新股，不涉及股东公开发售股份 | | | | 每股面值 | 人民币 1.00 元 | | | | 每股发行价格 | 人民币 23.60 元 | | | | 发行日期 | 2023 年 月 10 | 5 | 日 | | 拟上 ...

02zhon 风险高、业绩不稳定、退市风险高等特点，投资者面临较大的市场风险。投 资者应充分了解科创板市场的投资风险及本公司所披露的风险因素，审慎作 出投资决定。 深圳中科飞测科技股份有限公司 Skyverse Technology Co., Ltd. （深圳市龙华区观澜街道新澜社区观光路 1301-14 号 101、102） 首次公开发行股票并在科创板上市 招股意向书 保荐人（主承销商） 1-1-1 深圳中科飞测科技股份有限公司 招股意向书 声 明 中国证监会、上海证券交易所对本次发行所作的任何决定或意见，均不表 明其对发行人注册申请文件及所披露信息的真实性、准确性、完整性作出保证， 也不表明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判 断或保证。任何与之相反的声明均属虚假不实陈述。 （中国（上海）自由贸易试验区商城路 618 号） 本次发行股票拟在科创板市场上市，科创板公司具有研发投入大、经营 深圳中科飞测科技股份有限公司 招股意向书 本次发行概况 | 发行股票类型 | 人民币普通股（A股） | | | | | | --- | --- | --- | --- | --- | --- | | ...