Group 1 - The core viewpoint of the news is that Jingzhida has experienced a significant stock price increase, with a 5.03% rise on September 22, reaching 154.42 CNY per share, and a cumulative increase of 18.56% over three consecutive days [1] - Jingzhida Technology Co., Ltd. is based in Shenzhen, Guangdong, and specializes in the research, production, and sales of new display device testing equipment, with its main revenue sources being optical detection and calibration systems (52.16%), semiconductor memory testing (31.06%), and aging systems (10.51%) [1] - The company was established on May 31, 2011, and went public on July 18, 2023, with a total market capitalization of 14.517 billion CNY [1] Group 2 - Huazhan Fund holds a significant position in Jingzhida, with its Huazhan Intelligent Equipment Theme Stock A fund owning 365,800 shares, accounting for 3.45% of the fund's net value, making it the sixth-largest holding [2] - The fund has generated a floating profit of approximately 2.7071 million CNY today and 8.4213 million CNY during the three-day price increase [2] - The fund manager, Liu Changchang, has a tenure of 5 years and 260 days, with the fund's total asset size at 6.642 billion CNY and a best return of 237.59% during his management [2]

汇添富移动互联股票A（000697）基金经理为沈若雨。 从基金十大重仓股角度 数据显示，汇添富基金旗下1只基金重仓精智达。汇添富移动互联股票A（000697）二季度增持5.95万 股，持有股数99.68万股，占基金净值比例为3.45%，位居第七大重仓股。根据测算，今日浮盈赚取约 737.61万元。连续3天上涨期间浮盈赚取2294.57万元。 汇添富移动互联股票A（000697）成立日期2014年8月26日，最新规模23.17亿。今年以来收益66.2%， 同类排名117/4222；近一年收益108.72%，同类排名302/3813；成立以来收益151.3%。 9月22日，精智达涨5.03%，截至发稿，报154.42元/股，成交2.10亿元，换手率1.92%，总市值145.17亿 元。精智达股价已经连续3天上涨，区间累计涨幅18.56%。 资料显示，深圳精智达技术股份有限公司位于广东省深圳市龙华区龙华街道清湖社区清湖村富安娜公司 1号101工业园D栋1楼东，成立日期2011年5月31日，上市日期2023年7月18日，公司主营业务涉及新型 显示器件检测设备的研发、生产和销售业务。主营业务收入构成为：光学检测及校正修 ...

Group 1 - The core viewpoint of the news is the performance and financial details of Shenzhen Jingzhida Technology Co., Ltd., which saw a stock price increase of 5.02% to 115.78 CNY per share, with a total market capitalization of 10.885 billion CNY [1] - The company specializes in the research, production, and sales of new display device testing equipment, with its main revenue sources being optical detection and calibration systems (52.16%), semiconductor memory device testing (31.06%), aging systems (10.51%), signal generators (4.17%), touch detection systems (1.36%), testing system accessories (0.64%), and others (0.11%) [1] Group 2 - From the perspective of fund holdings, Rongtong Fund has a significant position in Jingzhida, with its fund "Rongtong New Area New Economy Flexible Allocation Mixed" holding 107,400 shares, accounting for 4.29% of the fund's net value, making it the fourth-largest holding [2] - The fund has achieved a year-to-date return of 23.99% and a one-year return of 36.58%, ranking 3106 out of 8180 and 3904 out of 7967 respectively in its category [2]

Group 1 - Notable private equity firm NanTu Asset recently conducted research on a listed company, Jingzhida, which participated in a brokerage strategy meeting [1] - Jingzhida introduced its product offerings, including DRM aging test repair equipment, MEMS probe cards, general testing verification machines for memory, and new display device testing equipment [1] - The company is developing upgraded CP testing machines and high-speed FT testing machines to meet advanced packaging testing requirements, which have already gained customer recognition [1] - Jingzhida plans to expand its MEMS probe card product line and develop sorting machines and probe stations, establishing Nanjing Jingzhida Technology Co., Ltd. [1] - The company is also developing testing technologies and equipment for 2.5D and 3D packaging technologies such as KGSD and HBM [1] - Jingzhida has set a target for a revenue growth rate of no less than 60% by 2025, with a semiconductor business revenue growth rate of no less than 500% [1] Group 2 - NanTu Asset Management Co., Ltd. was established in 2015 and is currently an observer member of the Asset Management Association of China [2] - The company emphasizes a reliable, sustainable, and excellence-driven development philosophy, focusing on client interests [2] - NanTu Asset aims to build a long-lasting and outstanding asset management company, with a core team of 16 employees, including 11 investment research personnel [2] - The average securities industry experience of the investment research personnel is over 7 years, with backgrounds from renowned public institutions such as CICC, E Fund, and Agricultural Bank of China [2] - The team covers key industries including pharmaceuticals, TMT, new energy vehicles, consumer goods, and cyclical sectors [2]

Core Viewpoint - Shenzhen Jingzhida Technology Co., Ltd. successfully completed its public offering of 23.502939 million shares at a price of RMB 46.77 per share, raising a total of RMB 1.0992325 billion, with a net amount of RMB 986.5646 million after deducting issuance costs [1]. Group 1: Continuous Supervision Work - The sponsor has established and effectively implemented a continuous supervision work system, formulating corresponding work plans for specific supervision tasks [2]. - A continuous supervision agreement has been signed between the sponsor and Jingzhida, clarifying the rights and obligations of both parties during the supervision period [2]. - The sponsor conducts continuous supervision through daily communication, regular visits, on-site inspections, and due diligence to understand the operational status of Jingzhida [3]. Group 2: Financial Performance - For the fiscal year 2024, the company reported operating income of RMB 803.1297 million, an increase of 23.83% compared to RMB 648.5633 million in 2023 [15]. - The net profit attributable to shareholders decreased by 30.71% to RMB 80.1602 million from RMB 115.6848 million in the previous year [15]. - The company's total assets increased by 1.70% to RMB 2.0303548 billion at the end of 2024, compared to RMB 1.9964875 billion at the end of 2023 [15]. Group 3: Core Competitiveness - The company has developed a comprehensive core technology system across multiple technical fields, which is crucial for establishing a competitive market advantage [10]. - In the semiconductor storage device testing field, the company has accumulated rich experience and developed a full range of products for post-process testing, including wafer testers and aging test equipment [16]. - The company has established strong relationships with international manufacturers and universities, facilitating rapid technological accumulation and a complete industrial chain layout [18]. Group 4: Research and Development - The company's R&D expenditure for 2024 was RMB 109.6877 million, a 52.66% increase from RMB 71.85 million in 2023, representing 13.66% of operating income [20]. - The company holds a total of 413 intellectual property rights, including 84 invention patents, as of the end of 2024 [20]. - Continuous expansion of the R&D team and increased investment in new technologies and products have led to a significant rise in R&D expenses [20]. Group 5: Risk Factors - The company faces core competitiveness risks due to potential leakage of key technologies during external collaborations [10]. - High customer concentration is a concern, with the top five customers accounting for 67.49% of total revenue, which could adversely affect operations if any of these customers experience difficulties [11]. - Financial risks are present with accounts receivable amounting to RMB 440.0131 million, which could lead to bad debt risks if customer payment capabilities decline [12].

Investment Rating - The report maintains a "Recommended" investment rating for the company [1] Core Insights - The company achieved a revenue of 803 million yuan in 2024, representing a year-on-year growth of 23.83%. However, the net profit attributable to shareholders decreased by 30.71% to 80.16 million yuan [2][3] - The semiconductor business is experiencing strong growth, with revenue from this segment increasing by 199% year-on-year to 249 million yuan, accounting for over 30% of total revenue [3][4] - The gross margin for the company was 32.82%, down 7.55 percentage points year-on-year, primarily due to strategic adjustments in revenue structure [3] Business Performance Summary - The revenue from new display device testing decreased by 2.09% to 553 million yuan, with a gross margin of 32.93%, down 6.50 percentage points [3] - The company has strengthened its market position in the semiconductor testing equipment sector, with significant increases in the shipment of DRAM aging test repair equipment and MEMS probe cards [4] - The global sales of memory testing equipment reached 1.5 billion USD in 2024, a growth of 36.4%, and is expected to rise to 1.9 billion USD in 2025, with a compound annual growth rate of 26.7% [4] Customer and Market Developments - The company has secured key orders in the AMOLED and micro-display sectors, including orders for critical testing equipment for domestic AMOLED G8.6 generation lines and Micro LED testing equipment [5] - The company has made significant progress in expanding its overseas market presence, including obtaining orders from leading AR/VR terminal manufacturers [5] Financial Forecast - The company is projected to achieve earnings per share (EPS) of 1.92 yuan, 2.89 yuan, and 3.84 yuan for the years 2025, 2026, and 2027, respectively [5] - Revenue is expected to grow significantly, with forecasts of 1.2 billion yuan in 2025, 1.65 billion yuan in 2026, and 2.07 billion yuan in 2027, reflecting growth rates of 49.80%, 37.37%, and 24.99% respectively [12][13]

Investment Rating - The report maintains a "Recommended" investment rating for the company [1] Core Views - The company achieved a revenue of 803 million yuan in 2024, representing a year-on-year growth of 23.83%. However, the net profit attributable to shareholders decreased by 30.71% to 80.16 million yuan [2][3] - The semiconductor business is showing strong growth, with revenue from this segment increasing by 199% year-on-year to 249 million yuan, accounting for over 30% of total revenue [3][4] - The gross margin for the company was 32.82%, down 7.55 percentage points year-on-year, primarily due to strategic adjustments in revenue structure [3] - The company is a leading provider of testing equipment for new display devices and semiconductor storage devices, with significant orders from key clients in the AMOLED and Micro LED sectors [5][6] Financial Performance Summary - In 2024, the company reported a revenue of 803 million yuan, with a growth rate of 23.83%. The net profit attributable to shareholders was 80.16 million yuan, down 30.71% [2][12] - The company forecasts earnings per share (EPS) of 1.92 yuan, 2.89 yuan, and 3.84 yuan for the years 2025, 2026, and 2027 respectively [5][12] - The projected revenue for 2025 is 1.203 billion yuan, with an expected growth rate of 49.80% [12] Business Segment Analysis - The new display device testing segment generated revenue of 553 million yuan, a decrease of 2.09% year-on-year, with a gross margin of 32.93% [3] - The semiconductor testing equipment market is expected to grow significantly, with global sales projected to reach 1.5 billion USD in 2024, up 36.4% year-on-year, and further increase to 1.9 billion USD in 2025 [4] - The company has successfully developed and marketed high-resolution imaging colorimeters, expanding its product offerings in the new display device sector [5] Market Position and Future Outlook - The company is recognized as a national-level "specialized and innovative" enterprise, indicating strong industry recognition and technological capabilities [6] - The report highlights the potential for continued growth in the semiconductor testing equipment sector, driven by new orders and market demand [5][6]

【WitsView整理】 4月29日， 深圳精智达技术股份有限公司 （ 下文简称"精智达" ） 发布公告 称，公司于近日与京东方 下属公司成都京东方显示技术有限公司、成都京东方光电科技有限公司 签订了一系列合同，合同累计总金额为人民币2.5294亿元（含税）。 据了解，成都京东方显示技术有限公司系京东方控股子公司（持股52.63%），成都京东方光电科 技有限公司系京东方全资子公司（持股100%）。后者在成都负责一条4.5代TFT-LCD生产线以及一 条第6代柔性AMOLED生产线的运营。 精智达表示，本次签订的一系列合同属于公司日常经营行为。合同的履行预计将对公司2025、 2026年度经营业绩产生积极影响，公司将根据具体合同的相关规定以及公司收入确认原则在相应 的会计期间确认收入。 #显示设备 #京东方 #精智达 #LCD #OLED 【WitsView面板产业交流群】 TrendForce 集 邦 咨 询 面板产业链市场供需及价格报告 面板产业市况季度报告 面板价格"Plus"和市况更新月度报告 · 面板价格预测月度报告 面板出货追踪月度报告 · · 市场供需季度分析报告 季度面板产能状况季度报告 。 面 ...

Core Viewpoint - The significant reduction in shareholding by major shareholders of Jingzhida (688627.SH) raises concerns about the company's future prospects, especially in light of its recent performance challenges and the competitive landscape in the semiconductor testing equipment industry [3][4][5]. Shareholder Reduction and Buyback - Multiple shareholders plan to reduce their holdings by up to 2.82 million shares, representing a maximum of 3% of the total share capital, within three months following the announcement [3][4]. - The company has only repurchased 20,000 shares, which is a mere 0.02% of its total share capital, indicating a lack of confidence in the buyback's impact compared to the scale of the shareholder reduction [3][6]. Financial Performance - In 2024, the company reported a revenue increase of 23.83% year-on-year, reaching 803 million yuan, but the net profit attributable to shareholders decreased by 28.93% to approximately 82.22 million yuan, and the net profit after deducting non-recurring gains and losses fell by 19.61% to about 67.80 million yuan [8][9]. - The company faces operational pressures, with a significant reliance on a few major clients, as the top five clients accounted for 86.76% of total revenue in 2023 [9][10]. Market and Operational Risks - The company operates in a technology-intensive industry with long R&D cycles, and it has increased R&D spending by 57.60% year-on-year to approximately 77.58 million yuan, which constitutes 12.28% of its revenue [9][10]. - High customer concentration poses a risk, as losing a major client could severely impact revenue and increase operational risks [9][10]. Cash Flow and Financial Health - The company reported a negative net cash flow from operating activities of 115 million yuan for the first three quarters of 2024, indicating potential challenges in daily operations and funding [10]. - Accounts receivable and contract assets combined represent 24.71% of total assets, which could affect profitability and cash flow if clients face financial difficulties [10].

深圳精智达技术股份有限公司 Shenzhen SEICHI Technologies Co., Ltd. （深圳市龙华区龙华街道富安娜公司 1 号 101 工业园 D 栋 1 楼东） 首次公开发行股票科创板 上市公告书 （北京市朝阳区安立路 66 号 4 号楼） 股票代码：688627 股票简称：精智达 保荐人（主承销商） 二〇二三年七月十七日 深圳精智达技术股份有限公司 上市公告书 特别提示 深圳精智达技术股份有限公司（以下简称"精智达""发行人""本公 司"或"公司"）股票将于 2023 年 7 月 18 日在上海证券交易所科创板上市。 本公司提醒投资者应充分了解股票市场风险及本公司披露的风险因素，在新股 上市初期切忌盲目跟风"炒新"，应当审慎决策、理性投资。 如无特别说明，本上市公告书中使用的简称或名词释义与《深圳精智达技 术股份有限公司首次公开发行股票并在科创板上市招股说明书》（以下简称"招 股说明书"）一致。本上市公告书中所引用数据，如合计数与各分项数直接相加 之和存在差异，或小数点后尾数与原始数据存在差异，主要系精确位数不同或 四舍五入形成所致。 1 深圳精智达技术股份有限公司 上市公告书 第一节 ...