证券代码：301326 证券简称：捷邦科技 公告编号：2025-039 捷邦精密科技股份有限公司 （http://www.cninfo.com.cn）等指定信息披露媒体披露了相关文件。相关议案已 经第二届董事会薪酬与考核委员会第一次会议审议通过。公司监事会对本激励计 划的相关事项进行核实并发表了核查意见。 （二）2024 年 3 月 29 日至 2024 年 4 月 9 日，公司将本激励计划首次授予 激励对象的姓名和职务在公司内部予以公示。截至公示期满，公司监事会未收到 任何对本激励计划首次授予激励对象提出的异议。2024 年 4 月 10 日，公司披露 了《捷邦精密科技股份有限公司监事会关于 2024 年限制性股票与股票期权激励 计划首次授予激励对象名单的核查意见》。 （三）2024 年 4 月 15 日，公司召开 2024 年第一次临时股东大会，审议通 过了《关于公司<2024 年限制性股票与股票期权激励计划（草案）>及其摘要的 议案》《关于公司<2024 年限制性股票与股票期权激励计划考核管理办法>的议 案》《关于提请股东大会授权董事会办理公司 2024 年限制性股票与股票期权激 励计划相关事宜的议案》 ...

人工智能创新浪潮奔涌之际，在杭州城西科创大走廊录制的纪实创投节目《赢在AI+》于5月2日在 央视开播。值得关注的是，这场科技盛宴不仅让百位AI创想者携创新项目闪耀荧屏，更让城西科创大 走廊项目落地跑出加速度——日前，精密制造企业瑞鼎科技与青山湖科技城达成战略签约，成为首个落 地城西科创大走廊的节目参与企业。 记者了解到，从3月初大走廊招商保障组捕捉到企业落地需求，到青山湖科技城招商团队24小时内 完成跨省实地尽调，再到提供定制化选址方案，政企双方仅用5个工作日便达成初步合作意向，"这让我 们看到了杭州的政务便利性、可靠性，对未来落地发展有信心。"艾煜说。 这也是科技企业与科创走廊的一场"双向奔赴"。"刚踏入企业太仓基地，就让人眼前一亮。"青山湖 科技城管委会招商部副部长叶斌回忆道，在考察过程中，投资经理随行评估了该企业的技术水平及增长 潜力，"我们确认这是一家'小而美'的科技企业，掌握着能将孔加工精度误差控制在5微米内的核心技 术，在精密刀具国产化替代方面具有显著优势，将会成为科技城布局硬科技产业链的关键落子。" 随着《赢在AI+》节目的持续热播，城西科创大走廊正迎来新一轮创新要素集聚。截至目前，数十 家节目 ...

Investment Rating - The report maintains a "Buy" rating for the company [10] Core Views - The company reported a revenue of 11.49 billion yuan in Q1 2025, representing a year-on-year growth of 17.1%, and a net profit attributable to shareholders of 570 million yuan, which is a 23.5% increase year-on-year and a 62.2% increase quarter-on-quarter [6][10] - The company has diversified its operations, enhancing its technological and product advantages, particularly in the fields of industrial robots, AI glasses, and automotive electronics [6][8] Summary by Relevant Sections Financial Performance - In Q1 2025, the company achieved a revenue of 11.49 billion yuan, with a year-on-year growth of 17.1% and a net profit of 570 million yuan, up 23.5% year-on-year [6] - The company has maintained double-digit revenue growth for five consecutive quarters [6] Business Segments - The company has made significant advancements in various sectors, including: - **Robotics**: Established core technological capabilities in robot design and manufacturing, providing key components for humanoid robots [6] - **AI Glasses**: Focused on AR, VR, and MR technologies, supplying critical components to leading global clients [7] - **Foldable Screens**: Offers comprehensive solutions for high-end foldable devices, including key components like frames and heat dissipation solutions [7] - **Automotive Electronics**: Engaged in the production of battery structure components and is expanding into automotive cooling modules and charging products [8][9] Future Projections - The company forecasts net profits attributable to shareholders of 2.2 billion yuan, 2.9 billion yuan, and 3.3 billion yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 0.31, 0.41, and 0.47 yuan per share [10]

Investment Rating - The report maintains a "Buy" rating for the company [10] Core Views - The company achieved a revenue of 11.49 billion yuan in Q1 2025, representing a year-on-year growth of 17.1%, and a net profit attributable to the parent company of 570 million yuan, up 23.5% year-on-year and 62.2% quarter-on-quarter [5][6] - The company has diversified its operations, enhancing its technological and product advantages, particularly in the fields of industrial and special robots, AI glasses, and automotive electronics [6][7][8] - The company is positioned as a global leader in precision manufacturing, leveraging its core technologies in various sectors including robotics, AI, and automotive components [6][9] Financial Summary - The company forecasts net profits attributable to the parent company for 2025, 2026, and 2027 to be 2.201 billion, 2.892 billion, and 3.322 billion yuan respectively, with corresponding EPS of 0.31, 0.41, and 0.47 yuan per share [10] - Revenue projections for 2025, 2026, and 2027 are 48.676 billion, 55.856 billion, and 64.052 billion yuan, with year-on-year growth rates of 10.1%, 14.7%, and 14.7% respectively [12] - The company’s gross margin is expected to improve slightly from 15.8% in 2024 to 16.2% in 2027, while ROE is projected to increase from 8.9% to 12.1% over the same period [12]

Group 1: Cost Control Measures - The company implements strict procurement management systems to reduce costs in raw material procurement through centralized purchasing and supplier tier management [2] - In production, the company adopts an "order-based production as the main, stock-based production as the auxiliary" model, utilizing ERP systems for efficient and flexible production [3] - Automation and digital transformation initiatives are in place to enhance production efficiency and reduce defect rates [3] Group 2: E-commerce Business Strategy - The e-commerce business experienced a revenue decline in 2024, prompting a strategic adjustment focused on "focusing on categories and optimizing structure" [4] - The company plans to divest inefficient assets and streamline subsidiaries to promote healthy business development [4] - Future efforts will concentrate on core product categories and multi-market strategies to enhance competitiveness [4] Group 3: R&D Investment - In 2024, the company invested 46.44 million yuan in R&D, representing a growth of over 30% compared to 2023 [4] - R&D efforts are primarily directed towards enhancing product capabilities and increasing automation in production [4] - The company will continue to focus on innovation driven by market and customer needs [4] Group 4: Customer Concentration - In 2024, the top five customers accounted for 32.20% of the company's total sales, indicating no reliance on a single customer [5] - The company aims to optimize customer structure through technological innovation and enhance risk control [5] Group 5: Financial Performance - The company reported operating revenue of 1,509.82 million yuan, a decrease of 7.13% year-on-year [5] - The net profit attributable to shareholders was a loss of 459.82 million yuan, with the loss increasing compared to the previous year [5] - Major reasons for the loss include goodwill impairment losses of 273.88 million yuan and litigation-related provisions of 123.18 million yuan [5]

Industry Outlook - The industry is expected to recover from a low point, entering a moderate growth phase due to domestic consumption stimulus policies and the application of AI technology in electronic products [2][3] - Structural opportunities are emerging in the industry due to technological innovations, such as periscope motors and AR/AI glasses [2] - Precision manufacturing is seen as a foundational industry, with companies enhancing core competitiveness to seize development opportunities [2] Company Performance - In 2024, the company achieved a revenue growth of 5.65%, while net profit decreased by 34.75% [5][6] - The decline in net profit is attributed to competitive pricing strategies, increased depreciation and amortization from new facilities, and initial production challenges affecting profit margins [5][6] - The company is focusing on stabilizing old customers and products while pushing for product structure upgrades and new project developments [5][6] Talent and Culture - The company emphasizes the integration of talent and corporate culture as a core competitive advantage [3] - Plans include partnerships with universities and industry associations for talent cultivation in precision manufacturing and mold design [3][4] Future Strategies - The company aims to enhance its market presence through improved external communication and marketing efforts [3] - Future growth drivers include expanding product categories and enhancing customer satisfaction through innovative solutions [5][6] - The company is committed to using raised funds for the development of new products and technologies, with a focus on VCM motors and IMMT processes [6][9] Market Position and Challenges - The company acknowledges the challenges posed by a small market capitalization and limited stock liquidity, considering potential stock splits to enhance market activity [4] - The decline in stock price is linked to macroeconomic factors, market sentiment, and industry dynamics, with a focus on high-quality development as a long-term strategy [6][8]

Investment Rating - The investment rating for the company is "Accumulate" [5] Core Views - The company's Q1 2025 performance met market expectations, with a revenue of 4.395 billion yuan, a year-on-year increase of 11.55%. However, the net profit attributable to shareholders decreased by 43.44% to 175 million yuan, primarily due to last year's investment gains from the disposal of subsidiary equity. The non-recurring net profit attributable to shareholders increased by 32.85% to 168 million yuan [1][2] - The gross margin slightly improved to 18.96%, up by 1.26 percentage points year-on-year, while the expense ratio decreased by 0.69 percentage points to 12.58%, indicating ongoing cost control efforts [3] - The company is focusing on a "dual pillar + artificial intelligence" strategy to enhance its global layout, aiming to strengthen its traditional consumer electronics business while expanding its new energy business, particularly in energy storage systems. The company is also developing its artificial intelligence innovation business, targeting humanoid robot core components and high-speed communication products [4] Financial Summary - The company forecasts revenue for 2025-2027 to be 18.877 billion, 21.838 billion, and 24.383 billion yuan, representing year-on-year growth of 11.5%, 15.7%, and 11.7% respectively. The net profit attributable to shareholders is expected to be 865 million, 1.007 billion, and 1.168 billion yuan, with growth rates of 12.1%, 16.3%, and 16.0% respectively [8][10] - The earnings per share (EPS) for 2025-2027 are projected to be 0.64, 0.74, and 0.86 yuan, with corresponding price-to-earnings (PE) ratios of 33.04x, 28.40x, and 24.48x [8][10]

Core Insights - DeXin Technology reported a revenue of 364 million RMB and a net loss of 151 million RMB for the year 2024, while proposing a cash dividend of 0.56 RMB per 10 shares, totaling 13.1 million RMB [1] - The company focuses on precision manufacturing and transportation services, including lithium battery equipment, reducers, and various transportation services [1] Precision Manufacturing Business - DeXin Technology's core asset, DeHong Precision, has over 20 years of experience in the lithium battery precision mold sector, becoming a leading enterprise in the domestic market [2] - The company has developed innovative products such as L-shaped and rounded corner battery cutting molds, filling several industry gaps [2] - A nationwide after-sales network has been established to enhance service competitiveness, providing 24-hour on-site support to reduce customer downtime [2] Acquisition and Expansion - In September 2024, the company acquired 51% of Anhui Hamps, becoming its controlling shareholder and entering the precision automation field [3] - Anhui Hamps specializes in high-precision reducers and motors, leveraging advanced equipment and experienced technicians to meet diverse customer needs [3] Financial Performance - The precision manufacturing segment maintained a high gross margin of 31.93%, with overseas business generating revenue of 23.34 million RMB [4] - The company's losses were primarily due to asset impairment losses; excluding this, the company remained profitable [4] - In Q1 2025, the company achieved a revenue of 97.68 million RMB, an increase of 84.88% year-on-year, with a significant reduction in net loss by over 90% compared to the previous year [4]

春和景明，万物勃发，四月的长沙，处处涌动着项目建设的澎湃动能。 新标杆项目林立。湖南近日发布的2025年"数字新基建"标志性项目，长沙42个项目入选，为加快培育和 发展新质生产力强基赋能。 重大项目加速跑。以浏阳经开区为例，一季度新开工9个项目、竣工18个项目，写下春日奋进的生动答 卷。 工地塔吊林立，厂房机器轰鸣，园区车辆穿梭……星城大地上，项目建设者在春光里全速奔跑。将项目 现场当作比拼赛场，长沙正以干劲"满格"状态，在春天里描绘高质量发展的新图景。 春潮激荡：重大项目"领跑"产业升级 每个重大项目落地，都在拉长产业链条、锻造核心竞争力、补齐关键环节短板。 日前，省发改委公布2025年省重点建设项目，位于浏阳经开区的7个项目入选。走进这些项目工地，满 目皆是火热奋斗之景。 蓝思智能装备研发、生产基地项目总占地面积近400亩，目前主体已全部封顶，室内外装修已完成 90%，设备安装完成25%，仓库、宿舍及部分车间已竣工投入使用。 惠科Mini-LED背光/直显模组及整机项目则已完成土地平整、摘牌及地勘等工作，进入全面建设阶段。 该项目占地约109亩，从签约到启动建设用了不到一个月，充分展现了产业奋进的"长沙速 ...

Group 1: Project Development and Economic Growth - In April, Changsha is witnessing a surge in project construction, with 42 projects selected as key "digital new infrastructure" initiatives for 2025 [1] - The Liuyang Economic Development Zone has initiated 9 new projects and completed 18 projects in the first quarter, showcasing significant progress in project execution [1] - Major projects like the Blue思智能装备研发 and 惠科 Mini-LED projects are advancing rapidly, with the latter entering full construction within a month of signing [2][3] Group 2: Investment and Employment Impact - The Liuyang Intelligent Thermal Equipment project has a total investment of approximately 1 billion yuan, with an expected annual output value of 1.5 billion yuan and the creation of around 400 new jobs [3] - The Changsha Fangheng Intelligent Advanced Structural Materials project is set to focus on high-performance materials, addressing domestic reliance on imports [3] Group 3: Service and Efficiency in Project Management - The Liuyang Economic Development Zone has implemented efficient service measures, allowing for rapid project approvals and support, exemplified by a project that went from signing to construction in just a few months [6] - The introduction of a visualized approval system has made the administrative process more transparent and efficient, akin to package tracking [6] Group 4: Enhancing Business Environment - The Rainflower Economic Development Zone has been recognized for its excellent business environment, ranking among the top five provincial zones, attributed to its comprehensive service policies [7] - The zone has successfully facilitated the establishment of the Hongpeng Aviation global MRO center in just 51 days, demonstrating its responsiveness to business needs [7] Group 5: Innovation and Technology Development - The establishment of the Changsha Global Quantum Research Center has led to significant advancements, including the development of a domestic frequency locking device within a year [8] - The zone has created a complete innovation cycle from research incubation to industrial linkage, supported by a robust funding system that has provided over 3 billion yuan in equity financing [8]