Core Viewpoint - The stock of Daoming Optics experienced abnormal trading fluctuations, with a cumulative price increase exceeding 20% over two consecutive trading days [1] Summary by Categories Stock Performance - Daoming Optics' stock closed with a price increase that deviated by more than 20% on December 1 and December 2, 2025, indicating significant trading volatility [1] Company Communication - The company has not identified any undisclosed significant information that could have impacted its stock price, despite the abnormal trading activity [1] Market Discussion - There has been recent media and online forum discussion regarding the company's involvement in "AI smartphones," but the company clarifies that it does not have any related business in this area [1]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300269 | 联建光电 | 7.19 | 20.03% | 149.00万 | 10.34亿 | | 002983 | 芯瑞达 | 25.08 | 5.16% | 39.51万 | 10.18亿 | | 300102 | 乾照光电 | 22.03 | 4.90% | 250.19万 | 52.54亿 | | 300632 | 光莆股份 | 15.84 | 4.90% | 1 35.03万 | 5.41亿 | | 920438 | 戈碧迦 | 42.12 | 4.65% | 6.94万 | 2.84亿 | | 002992 | 宝明科技 | 51.58 | 4.58% | 2.18万 | 2660'T | | 603685 | 晨丰科技 | 21.81 | 2.30% | 2.97万 | 6426.19万 | | 002217 | 合力泰 | 3.26 | 2.19% | 258.45万 | 8.40亿 | | 600707 | 彩虹股份 | 5 ...

证券代码：301045 证券简称：天禄科技 苏州天禄光科技股份有限公司 投资者关系活动记录表 编号：2025-004 | | □特定对象调研 | □分析师会议 | | --- | --- | --- | | | □媒体采访 | □业绩说明会 | | 投资者关系活 动类别 | □新闻发布会 | 路演活动 ☑ | | | □现场参观 | □电话会议 | | | □其他： （请文字说明其他活动内容） | | | 参与单位名称 及人员姓名 | 投资者网上提问 | | | 时间 | 2025 年 12 月 02 日 | | | 地点 | 全景网"投资者关系互动平台"（https://ir.p5w.net） | | | | 董事会秘书：肖明冬先生 | | | 公司接待人员 姓名 | 投资者关系总监：李艳茹女士 | | | | 证券事务代表：宋欢欢女士 | | | | 投资者提出的问题及公司回复情况 | | --- | --- | | | 公司就投资者在本次说明会中提出的问题进行了回复： | | | 1、公司的发展规划是怎么样的，关于新项目 TAC 光学膜现 | | | 在的进度如何？厂房工程建设进入如何？ | | | 尊 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1]. Core Insights - The company focuses on the development of optical imaging, fingerprint recognition modules, and automotive electronic components, aiming to enhance its product matrix and transition from a consumer electronics imaging solution provider to a core component supplier for smart hardware [6][15]. - The company is expected to benefit from optical innovation and the wave of automotive intelligence, leading to steady improvements in profitability and market share [15]. Summary by Sections Company Overview - The company is committed to the synergistic development of imaging and fingerprint recognition, focusing on high-end manufacturing upgrades [6][15]. - It aims to grow into a technology enterprise providing integrated machine vision and human vision solutions [15]. Mobile Camera Module Business - The company holds a leading global market share in mobile camera modules, with a focus on enhancing the structure of its products [7][27]. - The market for mobile camera modules is expected to continue its stable growth, driven by increasing smartphone penetration and consumption upgrades [30][32]. - The sales proportion of high-end mobile camera modules (32M pixels and above) reached 53.4% in the first half of 2025 [7][27]. Other Camera Module Business - The IoT and automotive camera markets are expanding rapidly, with the company seeing a 47.9% year-on-year growth in sales for these modules [8][36]. - The global automotive camera module market is projected to reach USD 27.3 billion by 2025, with the company aiming to replicate its mobile camera market position in this sector [8][36]. Fingerprint Recognition Module Business - The market for ultrasonic fingerprint recognition modules is gradually expanding, with significant improvements in sales and product structure leading to increased gross margins [9][46]. - The company reported that its sales of ultrasonic fingerprint recognition modules in the first half of 2025 exceeded the total sales for 2024 [9][48]. Financial Forecast and Investment Recommendation - Revenue projections for the company are estimated at RMB 20.447 billion, RMB 22.854 billion, and RMB 26.331 billion for 2025, 2026, and 2027, respectively, with corresponding net profits of RMB 714 million, RMB 909 million, and RMB 1.138 billion [10][12]. - The company's P/E ratios for the same years are expected to be 14.5x, 11.3x, and 9.1x, which are lower than the industry averages [10][12].

Core Viewpoint - Medike (688079.SH) plans to issue A-shares to specific investors, aiming to raise up to 700 million yuan, despite facing significant financial losses in recent years [1] Group 1: Fundraising Plan - The company intends to issue shares to no more than 35 qualified investors, with a maximum of 123 million shares to be issued [1] - The total amount to be raised is capped at 700 million yuan, with 300 million yuan allocated for MEMS device optical system manufacturing, 200 million yuan for semiconductor process bonding prism industrialization, and the remaining 200 million yuan for working capital [1] Group 2: Financial Performance - The company's financial performance has been under pressure, reporting a net profit of 22.09 million yuan in 2022, followed by losses of 84.45 million yuan in 2023, 101.84 million yuan in 2024, and 81.77 million yuan in the first nine months of 2025 [1] - Based on data from the first three quarters of 2025, the company anticipates continued losses for the entire year [1] Group 3: Previous Fundraising Project Performance - The effectiveness of the previous fundraising projects has been disappointing, with the optical optoelectronic component production base project reporting a cumulative loss of 64.85 million yuan as of September 30, 2025, falling short of the promised 283.07 million yuan [1] - The production capacity utilization rate for this project is only 48.56%, primarily due to the project not reaching full capacity [1]

Core Viewpoint - Meidike (688079.SH) has disclosed a plan for a private placement of A-shares for the year 2025, targeting specific qualified investors, with a total fundraising amount not exceeding RMB 700 million [1][2]. Summary by Sections Issuance Details - The private placement will involve no more than 35 specific investors, including various financial institutions and qualified individual investors [1]. - The issuance price will be set at no less than 80% of the average trading price over the previous 20 trading days prior to the pricing date [1][2]. - The type of shares issued will be domestic listed RMB ordinary shares (A-shares) with a par value of RMB 1.00 per share [2]. Fundraising and Investment Plans - The total number of shares to be issued will not exceed 30% of the company's total share capital prior to the issuance, amounting to a maximum of 122,577,359 shares [2]. - The total fundraising amount is capped at RMB 700 million, which will be allocated to three main projects: 1. MEMS device optical system manufacturing project: RMB 300 million 2. Semiconductor process bonding prism industrialization project: RMB 200 million 3. Supplementing working capital: RMB 200 million [2][3]. Shareholder Structure - The actual controller of the company is Ge Wenzhi, who holds 0.42% of the shares directly and controls 54.88% indirectly, maintaining control post-issuance [4]. - The issuance will not alter the control structure of the company, as Ge Wenzhi's shareholding will remain at 42.53% after the issuance, assuming no participation in the subscription [4]. Financial Performance - For the third quarter of 2025, the company reported revenue of RMB 160.42 million, a year-on-year increase of 26.91%, but a net loss attributable to shareholders of RMB -31.13 million [6][7]. - Year-to-date revenue reached RMB 451.13 million, reflecting a 32.04% increase, with a net loss of RMB -81.77 million [6][7]. - In 2023, the company experienced a revenue decline of 22.48%, with a net loss of RMB -84.45 million [8].

Core Viewpoint - The stock of Xinruida has experienced a significant surge, achieving three consecutive daily limit-ups, with a total increase of 33.13% during this period [2] Performance Summary - As of 9:31 AM, the stock price reached 26.24 yuan, with a turnover rate of 12.41% and a trading volume of 15.9 million shares, amounting to a transaction value of 416 million yuan [2] - The total market capitalization of A-shares is now 5.869 billion yuan, while the circulating market capitalization stands at 3.362 billion yuan [2] Trading Data - The stock has been listed on the Dragon and Tiger List due to a cumulative price deviation of 20% over three trading days, with institutional investors net selling 4.4979 million yuan and other trading seats net buying 19.9358 million yuan [2] - Recent daily performance data shows notable fluctuations in net capital inflow, with the highest net inflow recorded at 61.0851 million yuan on December 1, 2025 [2]

Group 1 - The company Meidike (SH 688079) announced a plan to issue shares to specific investors, approved by the board on December 1, 2025, with a maximum of 35 investors involved [1] - The total number of shares to be issued will not exceed 30% of the company's total share capital prior to the issuance, amounting to approximately 123 million shares [1] - The issuance price will be no less than 80% of the average trading price over the 20 trading days prior to the pricing date, with a target to raise no more than 700 million RMB [1] Group 2 - The raised funds will be allocated to three main projects: 300 million RMB for the MEMS optical system manufacturing project, 200 million RMB for the semiconductor bonding prism industrialization project, and 200 million RMB for working capital [1] - For the year 2024, the company's revenue composition is as follows: optical optoelectronics 54.07%, semiconductors 16.26%, semiconductor testing 13.81%, micro-nano electronics 11.96%, and other businesses 3.9% [1] - The current market capitalization of Meidike is 4.6 billion RMB [2]

Core Viewpoint - Aopu Optoelectronics (002338) has clarified that its K9 optical glass is primarily used in the manufacturing of prisms, lenses, and windows for optical components [1] Company Summary - Aopu Optoelectronics specializes in K9 optical glass, which serves as a key material in the production of various optical elements [1]

Core Viewpoint - The company announced that its stock experienced an abnormal fluctuation, with a cumulative closing price increase deviation of 20.93% over three consecutive trading days [1] Summary by Relevant Sections - **Stock Performance** - The stock price increased significantly over three trading days: November 27, November 28, and December 1, resulting in a cumulative increase deviation of 20.93% [1] - **Company Investigation** - The company conducted an internal review and found no corrections or supplementary disclosures to previous information. There were no significant changes in recent operations or the business environment [1] - **Insider Trading** - During the period of abnormal fluctuation, neither the controlling shareholder nor the actual controller engaged in buying or selling the company's stock [1] - **Investor Advisory** - The company advised investors to rely on information from designated media sources and to invest rationally [1]