沃格光电2月2日在互动平台上回复多个涉及CPI航天应用、微流控生物芯片等问题，相关信息发布不准 确、不完整，风险提示不充分，可能对投资者决策产生误导，上交所决定对沃格光电及时任董事会秘书 龚庆宇予以监管警示，并要求公司提交整改报告。 长江商报记者注意到，由于商业航天、脑机接口为当前市场热度正盛的概念，沃格光电却在互动平台作 出误导投资者的表述，引起股价涨停。在监管督促下，沃格光电才澄清公司航天CPI产品尚未实现量 产，关于行业地位的陈述是公司在产业技术积累和应用反馈基础上的"自主判断"。上交所作出监管措施 之后，2月5日，沃格光电股价回撤3.96%。 需要注意的是，蹭热点被罚的背后，是沃格光电业绩承压明显。2025年，沃格光电预计归属于上市公司 股东的净利润（以下简称"归母净利润"）为亏损1亿至1.4亿元。自2021年以来，沃格光电已连续五年亏 损，归母净利润累计亏损超5.8亿元。 长江商报消息 ●长江商报记者 徐佳 "蹭"上商业航天、脑机接口两大风口，沃格光电（603773.SH）因误导性信披被监管警示。 截至2025年9月末，沃格光电资产负债率已达68.67%。 搭上商业航天及脑机接口两大热点 2月4日， ...

在"脑机接口"领域，沃格光电的回复同样具有误导性。公司曾表示重点推进微流控生物芯片的研发，产品"即将进入量产出货阶段"。但实际上，公司仅为生 物芯片提供所需的玻璃基板或基础结构件，并不涉及芯片的设计和制造，且该业务营收占比极小。2025年度，公司在生物医疗领域的微流控相关产品累计销 售收入仅10.79万美元，占整体营收的比例微乎其微，目前也无法确定正式量产的具体时间。更为关键的是，其产品的应用场景为体外诊断，如血糖检测 等，与"脑机接口"技术毫无关联，目前也没有商业化的销售收入。 上交所的决定书指出，"商业航天"和"脑机接口"是市场关注度较高的热点概念，沃格光电在上证E互动平台的回复未能准确反映公司CPI产品、生物芯片相关 玻璃基板产品的具体应用情况、发展阶段、销售规模以及对公司整体经营的影响，也未充分提示未来发展的不确定性等风险，在监管督促下才发布公告进行 说明，相关信息发布不准确、不完整，风险提示不足，可能会对投资者的决策产生误导。 鉴于上述违规行为，上交所认定沃格光电违反了相关规定。董秘龚庆宇作为信息披露事务的具体负责人，未能尽到勤勉尽责的义务，对违规行为负有责任， 同时也违反了《股票上市规则》的相关规 ...

记者|蔡鼎 编辑|许绍航 魏官红杜波校对|金冥羽 在近期A股二级市场追逐"商业航天"与"脑机接口"两大风口之际，上市公司在互动平台的言论若偏离客观事实，极易引发误导。 2月4日晚间，上交所上市公司管理一部下发监管警示的决定书（以下简称"决定书"），对沃格光电3.SH，股价40.38元，市值90.72亿元）及其董秘龚庆宇 予以监管警示，称公司关于"商业航天"和"脑机接口"两个热门概念板块相关信息发布不准确、不完整，风险提示不充分，可能对投资者决策产生误导。 图片来源：沃格光电公告 夸大"商业航天"关联，蹭"脑机接口"热点 真实业务含金量存疑 决定书称，经查明，违规事项源于沃格光电在2026年2月2日上证E互动平台上的一系列回复。当时，公司在回答投资者提问时，针对两大市场热点给出了 极具"想象空间"的表述，但经监管核实，这些表述与客观事实存在重大差异。 在航天领域，沃格光电称其CPI膜材及防护镀膜产品"今年已实现柔性太阳翼基材的在轨应用"，并自称为国内极少数具备全产业链生产能力的企业，技术 处于"行业领先地位"，相比友商更具备"大尺寸量产可行性"。 然而，经监管督促，公司才在次日盘后承认，上述"在轨应用"仅涉及单 ...

Core Viewpoint - The company, Woge Optoelectronics, faces regulatory warnings from the Shanghai Stock Exchange regarding inaccurate and incomplete information related to its commercial aerospace and brain-computer interface sectors, which may mislead investors. Group 1: Stock Performance and Market Capitalization - As of the market close, Woge Optoelectronics' stock price increased by 0.67% to 40.38 yuan, with a market capitalization of 9.072 billion yuan [5]. Group 2: Business Operations and Financial Performance - Woge Optoelectronics announced that its aerospace CPI products have not yet achieved mass production, with current applications limited to a single satellite's flexible solar wing, resulting in a small order value. The orders signed with clients are in the product testing phase, accounting for less than 0.1% of the company's projected revenue for 2025, thus not significantly impacting operational performance [5]. - The company's microfluidic biochip business primarily involves providing glass substrates or structural components for downstream clients, without engaging in chip design or manufacturing. The projected sales revenue from microfluidic products in the biomedical field for 2025 is expected to be $10,790, which represents a minimal proportion of overall revenue [5]. - Woge Optoelectronics forecasts a net profit attributable to shareholders of between -100 million yuan and -140 million yuan for 2025, compared to a net profit of -122.36 million yuan in the same period last year [6]. - The company plans to launch its first domestic 8th generation OLED glass processing production line in the first half of 2026, with ongoing applications in Mini/MicroLED displays, 5G-A/6G communications, optical modules, advanced semiconductor packaging, and biochips. The company is currently in various stages of product development and mass production [6]. - Woge Optoelectronics aims to leverage its integrated capabilities and first-mover advantage in flexible film materials for satellite solar wings, actively promoting product testing and expanding its customer base. The company expects gradual improvement in its operations as it secures more orders [6].

【导读】沃格光电澄清航天CPI等业务，相关营收占比极小且量产时间未定 2月3日晚间，沃格光电（603773）发布公告称，公司当前在CPI（透明聚酰亚胺）航天应用、微流控生 物芯片、玻璃基技术等业务的营收基数极小，且受下游商业航天组网进度、医疗器械认证周期等因素影 响，未来能否实现规模化销售存在较大不确定性。 航天CPI产品尚未量产 近期，有投资者在互动平台提问沃格光电："公司目前研发和生产的CPI产品，主要有哪些品类？哪些已 经能实现量产？" 沃格光电此前在互动平台回复称，公司配合头部商业航天客户提供CPI膜材及防护镀膜产品，已实现柔 性太阳翼基材的在轨应用，正与其他客户推进送样测试。 2月3日晚间，沃格光电公告称，公司航天CPI产品尚未量产，前述在轨应用仅涉及单颗卫星柔性太阳 翼，订单金额较小。 目前，沃格光电与相关客户签署的订单处于产品测试验证阶段，占其2025年营业收入的比重不足 0.1%，不会对其经营业绩产生重大影响。 沃格光电公告称，相关业务的后续订单周期、规模及连续性，存在较大不确定性。 相关产业地位系自主判断 关于CPI航天材料全制程能力及开发阶段等问题，沃格光电此前在互动平台回复称，相比处于研 ...

Core Viewpoint - The company has not yet achieved mass production of its aerospace CPI products, and current applications involve only a single satellite's flexible solar wing with a small order value [1] Group 1: Product Development and Revenue Impact - The orders signed with relevant customers are in the product testing and validation phase, accounting for less than 0.1% of the company's projected revenue for 2025, indicating no significant impact on operational performance [1] - The company's microfluidic biochip business primarily utilizes glass-based TGV technology to provide necessary glass substrates or structural components for downstream clients, without involvement in chip design or manufacturing [1] Group 2: Financial Performance in Bio-Medical Sector - For the fiscal year 2025, the cumulative sales revenue from microfluidic-related products in the biomedical field is projected to be $10.79 million, representing a very small proportion of the company's overall revenue [1]

Core Viewpoint - The company, Woge Optoelectronics, has addressed investor concerns regarding its business segments, including CPI aerospace applications, microfluidic biochips, and glass-based technologies, emphasizing its current production capabilities and market status. Group 1: CPI Products - The company has developed CPI (transparent polyimide) products for aerospace applications, but these have not yet achieved mass production, with current applications limited to a single satellite's flexible solar wing, resulting in a small order value [1] - Orders related to CPI products are still in the testing phase and are expected to contribute less than 0.1% to the company's revenue in 2025, indicating significant uncertainty regarding future order cycles and scale [1][2] - The company claims to be one of the few in China with a complete CPI production chain, but the commercial aerospace business is still in its early stages, primarily focused on R&D and small-scale production [2] Group 2: Microfluidic Biochips - The company is advancing the development and industrialization of microfluidic biochips, leveraging its expertise in glass-based precision processing, with products nearing mass production after successful customer sample validation [3] - The microfluidic biochip business primarily provides glass substrates or structural components for downstream clients, without involvement in chip design or manufacturing, and is currently focused on applications in in vitro diagnostics [3] - Expected sales revenue from microfluidic products in the biomedical sector for 2025 is projected to be $10.79 million, representing a very small proportion of the company's overall revenue, with no confirmed timeline for entering formal mass production [3]

关于E互动问题"微流控生物芯片可以应用于脑机接口领域吗？"，前期公司回复为"在生物医药领域，公 司重点推进微流控生物芯片的研发与产业化。该产品充分发挥公司在玻璃基精密加工工艺方面的领先优 势，目前相关产品已完成客户送样验证，并即将进入量产出货阶段"。对此，公司涉及的"微流控生物芯 片"业务，主要是利用公司玻璃基TGV（玻璃通孔）及精密加工技术，为下游客户提供生物芯片所需的 玻璃基板或基础结构件，不涉及芯片设计和制造。2025年度，公司在生物医疗领域的微流控相关产品累 计销售收入10.79万美元，占公司整体营收比例极小，目前无依据确认公司进入正式量产的具体时间。 公司产品目前主要交付的应用场景为体外诊断（如血糖检测等），与脑机接口技术无关，亦无商业化销 售收入。 关于E互动问题"公司目前研发和生产CPI产品主要有哪些品类？哪些已能实现量产？"，前期公司回复 为"…配合头部商业航天客户提供CPI膜材及防护镀膜产品，今年已实现柔性太阳翼基材的在轨应用，并 正与其他客户推进送样测试"。对此，公司航天CPI产品尚未实现量产，前述在轨应用仅涉及单颗卫星柔 性太阳翼，订单金额较小。目前，公司与相关客户签署的订单为产品测试验 ...

证券日报网讯 2月2日，沃格光电在互动平台回答投资者提问时表示，在生物医药领域，公司重点推进 微流控生物芯片的研发与产业化。该产品充分发挥公司在玻璃基精密加工工艺方面的领先优势，目前相 关产品已完成客户送样验证，并即将进入量产出货阶段。 （文章来源：证券日报） ...

Core Viewpoint - Woge Optoelectronics (603773.SH) has seen a significant stock price increase, reaching a limit up of 10% to 39.16 CNY per share, with a total market capitalization of 8.798 billion CNY, driven by strong performance in various sectors including Chiplet, glass substrates, CPO, Mini/MicroLED, and commercial aerospace [1] Business Overview - Woge Optoelectronics is a leading domestic manufacturer of glass substrates, with self-developed glass optical devices applied in semiconductor etching equipment and lithography machines [1] - In the MiniLED product sector, the company has achieved mass production and shipment of glass-based MiniLED backlight displays and is collaborating with major TV brands to develop and mass-produce glass-based MiniLED television products [1] - In the MicroLED field, the company is conducting product research and development with several domestic and international clients, with its glass-based CPO products recently completing batch sampling and engaging in strategic cooperation in advanced packaging for computing chips [1] - The company is advancing glass stacking technology iterations and is on the verge of mass production and shipment of microfluidic biochip products [1] - In the commercial aerospace sector, Woge Optoelectronics possesses a full industry chain production capability from CPI slurry to film and coating, maintaining a leading technical level in the industry, having achieved in-orbit application of flexible solar wing substrates, and is conducting business engagements and product testing with multiple flexible solar wing clients [1]