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科创板新材料公司纷纷切入“大厂”供应链
Group 1: Industry Overview - The new materials industry is experiencing a positive trend, with companies entering the supply chains of major downstream customers, indicating an overall improvement in industry sentiment [1][4][5] - Companies such as Tianyi New Materials and Suihua Technology are collaborating with leading enterprises in aerospace and commercial space sectors, enhancing their market presence [1][2] Group 2: Company Developments - Tianyi New Materials is focusing on expanding its composite material production capabilities for aerospace applications, including drones and rockets, and is actively participating in the development of standards for drone operations [1] - Suihua Technology has established deep partnerships with major domestic commercial aerospace companies, enhancing its product offerings in copper alloy components [2] - Jinbo Co., Ltd. has developed low-cost modified resin-based porous carbon products and is now a designated supplier for several mainstream automotive companies [3] Group 3: Market Demand and Future Outlook - The OLED organic materials sector is seeing high demand due to increased penetration in consumer electronics and the upcoming construction of new AMOLED production lines, which is expected to significantly boost material requirements [4][5] - The demand for electronic specialty gases and fluorine-containing new materials is increasing, driven by the needs of the integrated circuit, battery, and pharmaceutical industries [5][6] - Longying Technology is experiencing strong order growth in the optical device sector, driven by advancements in data transmission technologies and the need for high-speed, low-latency solutions [6]
长盈通: 武汉长盈通光电技术股份有限公司发行股份及支付现金购买资产报告书(摘要)
Zheng Quan Zhi Xing· 2025-09-05 16:34
Group 1 - The company plans to acquire 100% equity of Wuhan Shengyisheng Optoelectronics Technology Co., Ltd. through a combination of issuing shares and cash payment, with a total transaction price of RMB 158 million [9][10][11] - The acquisition is expected to enhance the company's capabilities in the fiber optic gyroscope and optical communication sectors, creating synergies and expanding its product offerings [14][17] - The transaction will not result in a change of control for the company, as the actual controller remains the same [15][18] Group 2 - The company has committed to performance guarantees for the acquired entity, with net profit targets set at RMB 11.2 million for 2025, RMB 18 million for 2026, and RMB 22.5 million for 2027 [23][24] - If the performance targets are not met, the performance guarantee parties are obligated to compensate the company, primarily using the shares obtained from the transaction [24][26] - The transaction is subject to regulatory approvals and has already completed necessary decision-making processes [17][18] Group 3 - The company will issue 6,406,376 shares, representing 4.97% of the total share capital post-transaction, with an adjusted issue price of RMB 21.95 per share [11][12] - The total assets, equity attributable to shareholders, and revenue are expected to increase post-transaction, enhancing the company's profitability [16][17] - The company has taken measures to protect minority shareholders' rights during the transaction process, including fair pricing and information disclosure [21][22]
长盈通(688143):业绩快速修复,拟收购生一升打开成长空间
Guotou Securities· 2025-09-01 12:39
Investment Rating - The report assigns a "Buy-A" investment rating to the company with a 12-month target price of 57.80 CNY [5][8]. Core Views - The company has achieved rapid performance recovery, with a revenue of 192 million CNY in H1 2025, representing a year-on-year increase of 40.4%, and a net profit of 29 million CNY, up 91.82% year-on-year [1]. - The growth in revenue from optical fiber devices exceeded 200%, significantly contributing to the company's performance recovery and rapid restoration of profitability [2]. - The company is increasing its R&D investment to solidify its leading position in the optical fiber sensing field, with R&D expenses growing by 41.44% to 18 million CNY, representing a 9.5% R&D expense ratio [3]. - The company is actively expanding its development boundaries through both organic growth and acquisitions, including a planned acquisition of Shengyisheng, which will enhance its capabilities in optical communication and AI optical modules, thereby opening up long-term growth potential [4]. Financial Summary - The company is projected to achieve net profits of 68 million CNY, 114 million CNY, and 166 million CNY for the years 2025, 2026, and 2027, respectively, with growth rates of 281%, 66.46%, and 45.85% [5]. - The forecasted revenue for 2025 is 485 million CNY, with a net profit margin of 14.1% [11]. - The company’s average PE ratio for comparable companies is expected to be 81 and 61 times for 2025 and 2026, respectively, with the report suggesting a valuation premium due to the company's strategic positioning in specialty optical fibers and optical fiber rings [5][10].
长盈通: 武汉长盈通光电技术股份有限公司发行股份及支付现金购买资产报告书(草案)摘要(上会稿)
Zheng Quan Zhi Xing· 2025-08-04 16:12
股票代码:688143 股票简称:长盈通 上市地点:上海证券交易所 武汉长盈通光电技术股份有限公司 发行股份及支付现金购买资产报告书(草案)摘要 (上会稿) 买资产 李龙勤 独立财务顾问 二〇二五年八月 上市公司声明 武汉长盈通光电技术股份有限公司 发行股份及支付现金购买资产报告书(草案)摘要 本公司及全体董事、监事、高级管理人员保证重组报告书及本报告书摘要 内容的真实、准确、完整,不存在虚假记载、误导性陈述或重大遗漏,并对其 真实性、准确性和完整性承担相应的法律责任。 本公司控股股东、实际控制人及其一致行动人、董事、监事、高级管理人 员承诺:如本次交易所披露或提供的信息涉嫌虚假记载、误导性陈述或者重大 遗漏,被司法机关立案侦查或者被中国证监会立案调查的,在形成调查结论以 前,不转让在上市公司拥有权益的股份,并于收到立案稽查通知的两个交易日 内将暂停转让的书面申请和股票账户提交上市公司董事会,由董事会代其向证 券交易所和证券登记结算机构申请锁定;未在两个交易日内提交锁定申请的, 授权董事会核实后直接向证券交易所和证券登记结算机构报送本人或本单位的 身份信息和账户信息并申请锁定;董事会未向证券交易所和证券登记结 ...
长盈通2025上半年预盈最高3192万 拟1.58亿收购生一升光电增强“硬科技”
Chang Jiang Shang Bao· 2025-07-21 22:57
Core Viewpoint - Changying Tong plans to acquire 100% equity of Wuhan Shengyisheng Optoelectronics for 158 million yuan to enhance its capabilities in optical fiber gyroscope photon chip processing and to capture the growing market demand in the optical communication sector [1][2] Group 1: Acquisition Details - The acquisition is a strategic move for Changying Tong to upgrade its optical fiber gyroscope business and expand its application in the optical communication field [2] - The Shanghai Stock Exchange has accepted the transaction and issued an inquiry letter requiring explanations on 11 aspects, including the purpose and necessity of the acquisition [2][3] Group 2: Financial Performance - For the first half of 2025, Changying Tong expects revenue between 173 million to 211 million yuan, a year-on-year increase of 26.35% to 54.43%, and a net profit of 26.12 million to 31.92 million yuan, an increase of 72.12% to 110.33% [1][5] - The company has signed a performance guarantee agreement with the original shareholders of Shengyisheng Optoelectronics, ensuring minimum net profits for the years 2025, 2026, and 2027 [5] Group 3: Industry Position and Collaboration - Changying Tong is recognized as a national-level specialized and innovative "little giant" enterprise in the optical fiber gyroscope sector, having been listed on the Sci-Tech Innovation Board in 2022 [2] - Shengyisheng Optoelectronics, established in 2016, is a leading provider of optical device solutions in the optical communication field and has a strong customer demand, having turned profitable [4][6] - The collaboration between Changying Tong and Shengyisheng Optoelectronics has already addressed industry challenges, particularly in the processing technology of optical fibers and chips [3][6]
长盈通5亿产业园项目一期封顶 内生外延双轮驱动扩张业务版图
Chang Jiang Shang Bao· 2025-05-27 23:34
Core Viewpoint - Changying Tong is accelerating its integrated layout in the optical fiber industry, with a focus on new material development and strategic acquisitions to enhance its market position and product offerings [1][2][5]. Group 1: Company Overview - Changying Tong, established in 2010, specializes in the research, production, and sales of optical fiber gyroscope core components and solutions, and is recognized as a national-level "little giant" enterprise [2]. - The company was listed on the Sci-Tech Innovation Board in December 2022, becoming the first stock in the A-share market focused on optical fiber rings [2]. Group 2: Project Development - The "Changying Tong New Material Industrial Park Project" has a total investment of 500 million yuan, with a planned construction area of 35,800 square meters, set to start construction by April 2024 and be completed by December 2025 [3]. - The project will establish production lines for optical fiber coating resins and thermal control materials, with an expected annual capacity of 1,200 tons and 30 million pieces, respectively [3]. Group 3: Financial Performance - In 2024, the revenue from new materials is projected to reach 24.0645 million yuan, a year-on-year increase of 15.60%, while the overall revenue is expected to be 331 million yuan, up 50.22% [4]. - The company reported a net profit of 17.9414 million yuan in 2024, reflecting a year-on-year growth of 15.28% [4]. Group 4: Strategic Acquisitions - Changying Tong plans to acquire 100% of Wuhan Shengyisheng Optoelectronics for 158 million yuan, with the aim of expanding its core product layout and market presence [1][5]. - The acquisition will enhance the company's capabilities in the optical fiber gyroscope and optical communication sectors, contributing to a more comprehensive production capacity and improved profitability [6].
长盈通(688143)点评报告:业务多点开花 成长性逐步凸显.
Xin Lang Cai Jing· 2025-04-18 10:34
Core Viewpoint - The company reported a significant revenue increase of 50.22% year-on-year, reaching 331 million yuan, indicating a recovery in profitability driven by increased orders from key military clients and higher delivery of optical fiber devices [1] Financial Performance - Revenue for 2024 was 331 million yuan, up 50.22% year-on-year [1] - Net profit attributable to shareholders was 18 million yuan, reflecting a 15.28% year-on-year increase, although lower than revenue growth due to factors affecting gross margin and credit impairment [1] - Gross margin was 44.5%, down 7.8 percentage points year-on-year, impacted by a rise in accounts receivable and a 96.0% increase in credit impairment losses [1] - Operating expense ratio improved to 36.5%, down 14.6 percentage points year-on-year, with management expenses at 20.5%, showing significant improvement [1] Business Development - The company announced plans to acquire Shengyisheng, which will enhance its technological capabilities and expand its market presence in the optical communication sector [2] - The acquisition is expected to help the company build a complete technical system for optical devices and reduce reliance on a single market [2] - The company is actively developing third-generation optical fiber gyro photon chip business and expanding into non-military markets to create new growth points [2] Future Projections - Projected net profits for 2025, 2026, and 2027 are 73 million, 112 million, and 147 million yuan respectively, with corresponding EPS of 0.60, 0.92, and 1.20 yuan [2] - Current stock price corresponds to PE ratios of 48, 31, and 24 for the years 2025, 2026, and 2027 respectively [2]