中信证券股份有限公司关于聚灿光电科技股份有限公司 使用部分闲置募集资金进行现金管理的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为聚灿光 电科技股份有限公司（以下简称"聚灿光电"或"公司"）2022 年创业板向特 定对象发行 A 股股票的保荐人，根据《证券发行上市保荐业务管理办法》《上 市公司募集资金监管规则》《深圳证券交易所创业板股票上市规则（2025 年修 订）》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范 运作（2025 年修订）》等有关规定，对聚灿光电使用部分闲置募集资金进行现 金管理进行了核查，核查情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意聚灿光电科技股份有限公司向特定对 象发行股票注册的批复》（证监许可〔2023〕143 号）同意，聚灿光电向特定对 象发行人民币普通股（A 股）118,000,000 股，每股发行价格为 9.20 元，募集资 金总额 1,085,600,000.00 元，扣除各项发行费用后，募集资金净额 1,081,550,174.72 元。上述募集资金已于 2023 年 8 月 15 日划转至公司为本次发行 ...

Group 1: Infrastructure and Construction Industry - The overall infrastructure investment in China continued to show steady growth in the first half of 2025, with a year-on-year increase of 8.9% for broad infrastructure and 4.6% for narrow infrastructure [9][10] - The Yarlung Tsangpo River Super Hydropower Project, with a total investment of 1.2 trillion yuan, has officially commenced, marking a significant step in clean energy development under complex geological conditions [10] - The Central Urban Work Conference highlighted a shift in urbanization from rapid expansion to quality improvement, indicating potential systematic development opportunities in urban renewal and infrastructure upgrades [10][12] Group 2: Real Estate Industry - The real estate sector experienced a decline of 2.2% this week, with new housing transactions in 42 key cities dropping by 10.8% compared to the previous week [14][15] - The Central Urban Work Conference emphasized the need for urban renewal as a key strategy, with a focus on transforming the real estate development model and promoting the renovation of old neighborhoods [16] - National real estate development investment decreased by 11.2% year-on-year in the first half of 2025, indicating a need for stronger measures to stabilize the market [16] Group 3: Electronics Industry - The company Juzan Optoelectronics reported a revenue of 1.594 billion yuan in the first half of 2025, representing a year-on-year growth of 19.51%, with net profit increasing by 3.43% [19][20] - The company is transitioning to a full-color LED chip manufacturer, with a focus on high-value-added products, which is expected to enhance profit margins [20][21] - The production capacity for red and yellow light is rapidly increasing, contributing to the establishment of a second growth curve for the company [20][21] Group 4: New Consumption Sector - Runben Co., Ltd. is expected to benefit from increased demand for mosquito prevention products due to a local outbreak of Chikungunya fever in Guangdong [23][24] - The company launched over 90 new products in 2024, targeting differentiated consumer needs, with significant revenue contributions from its mosquito and infant product lines [24] - The company is well-positioned in the market due to its established brand image and competitive pricing strategy, which is likely to sustain high growth rates [24] Group 5: Non-Banking Financial Sector - Xinhua Insurance reported a 19% year-on-year increase in net profit for Q1 2025, driven by a 28% growth in original premium income [26][27] - The company has significantly increased its equity investment allocation, with a notable rise in the proportion of equity assets in its investment portfolio [27][28] - The company is expected to issue perpetual bonds to enhance its capital strength, given its high equity asset ratio [28][30]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of RMB 15.30 [4][6]. Core Views - The company has shown steady revenue growth, achieving RMB 15.94 billion in revenue for 1H25, a year-on-year increase of 19.51%. The net profit attributable to shareholders was RMB 1.17 billion, up 3.43% year-on-year [1][4]. - The company is transitioning to a full-spectrum LED chip supplier, with significant capacity expansion from its fundraising projects, expected to generate over RMB 6 billion in annual revenue once fully operational [3][4]. - The company is benefiting from structural optimization due to an increase in high-end product sales and improved economies of scale, despite facing short-term pricing pressures [1][2]. Summary by Sections Financial Performance - In 2Q25, the company achieved a record quarterly revenue of RMB 8.63 billion, a 17.63% increase year-on-year and a 17.94% increase quarter-on-quarter. However, net profit for the same quarter decreased by 14.54% year-on-year due to cost pressures [1][2]. - The company's LED chips and epitaxial wafers generated RMB 6.58 billion in revenue for 1H25, a decrease of 3.44% year-on-year, while other revenue sources increased by 43.47% [2]. Capacity and Production - The company's LED chip production capacity reached 12.104 million pieces in 1H25, with a utilization rate of 96.60%. The company is also expanding its production capacity with ongoing projects [2][3]. - The fundraising project for red and yellow light epitaxial wafers and chips is progressing, with expectations to achieve full production capacity of 100,000 pieces per month in the second half of 2025 [3]. Market Position and Outlook - The company is positioned as a leading domestic LED chip enterprise, expected to benefit from recovering demand and capacity release. Revenue forecasts for 2025, 2026, and 2027 are RMB 31.41 billion, RMB 35.18 billion, and RMB 39.22 billion, respectively [4][10]. - The report highlights the company's strategic shift towards high-end products, including Mini/Micro LED chips, which will enhance its product matrix across key application areas [3][4].

深圳交易所首批半年报于7月21日晚间正式发布。沃华医药、聚灿光电、瑞鹄模具、长川科技及*ST聆达五家公司率先披露业绩。除*ST聆达外，其余四家企 业均实现营收与净利润双重增长。这一表现为市场注入积极信号，展现出相关企业在复杂经营环境下的韧性与发展潜力。 长川科技上半年营业收入达到21.67亿元，同比上升41.80%。归属于上市公司股东的净利润为4.27亿元，同比上升98.73%。公司研发投入达到5.77亿元，占营 业收入比例高达26.65%。截至2025年6月30日，企业已拥有海内外专利超过1150项。 公司产品获得多家知名集成电路厂商认可。长电科技、华天科技、通富微电等封装测试龙头企业均采用其产品。华润微电子、士兰微等国内知名IDM厂商同 样选择合作。这些客户关系为公司未来发展奠定坚实基础。 制造业企业展现增长活力 瑞鹄模具上半年实现营业收入16.62亿元，同比增长48.30%。归属于上市公司股东的净利润为2.27亿元，同比增长40.33%。公司汽车制造装备业务在手订单 充足，产能利用率保持饱和状态。未来一段时期内，该业务收入具备较强可预期性。 汽车轻量化零部件业务产能逐步释放。一体压铸车身结构件、冲焊零部 ...

Core Viewpoint - The first batch of semi-annual reports from five companies in the Shenzhen market shows positive revenue and net profit growth for four companies, with only *ST Lingda reporting a loss [1][4]. Group 1: Company Performance - Wohua Pharmaceutical achieved a revenue of 425 million yuan, a year-on-year increase of 7.64%, and a net profit of 44.68 million yuan, up 303.16% [1]. - Changchuan Technology reported a revenue of 2.167 billion yuan, a year-on-year increase of 41.80%, and a net profit of 427 million yuan, up 98.73% [2]. - Ruihu Mould achieved a revenue of 1.662 billion yuan, a year-on-year increase of 48.30%, and a net profit of 227 million yuan, up 40.33% [2][3]. - Jucan Optoelectronics reported record highs in revenue and net profit, with figures of 1.594 billion yuan and 117 million yuan, representing year-on-year increases of 19.51% and 3.43% respectively [3]. Group 2: Strategic Focus and Future Outlook - Wohua Pharmaceutical emphasized a strategy of cost reduction and efficiency improvement, focusing on intelligent equipment and lean production [1]. - Changchuan Technology highlighted its strong R&D investment of 577 million yuan, accounting for 26.65% of its revenue, and its extensive patent portfolio of over 1,150 [2]. - Ruihu Mould noted a strong order backlog in its automotive manufacturing equipment business, with expectations for revenue growth driven by new product launches [3]. - Jucan Optoelectronics plans to enhance operational efficiency and expand its product range with new high-end products in the second half of the year [3]. Group 3: Financial Challenges - *ST Lingda reported a revenue of 59.93 million yuan, a year-on-year increase of 72.39%, but a net loss of 105 million yuan, although the loss has narrowed compared to the previous year [4].

Core Viewpoint - The company, 聚灿光电, reported a strong performance in the first half of 2025, with significant revenue growth and strategic advancements in its product offerings, particularly in the LED chip market [2][3]. Financial Performance - In the first half of 2025, the company's revenue reached 1,594,038,176.66 yuan, representing a year-on-year increase of 19.51% [2]. - The net profit attributable to shareholders was 116,968,866.53 yuan, up 3.43% year-on-year, while the net profit excluding non-recurring gains and losses was 113,752,466.02 yuan, reflecting an 8.12% increase compared to the previous year [2]. - In the second quarter, the company achieved a record quarterly revenue of 863 million yuan [2]. Strategic Developments - The company is focusing on GaN-based blue and green light, while actively expanding into GaAs-based red and yellow light, enhancing its full-color LED epitaxial wafer and chip layout [2]. - The company is advancing its "annual production of 2.4 million red and yellow light epitaxial wafers and chips project," with significant progress and partial production expected by January 11, 2025 [2]. - The company is transitioning from a monochrome to a full-color LED chip supplier, covering three core application areas: lighting, backlighting, and display [3]. Market Position and Future Outlook - The comprehensive product matrix and strong brand effect are expected to enhance the company's market share and solidify its market position, contributing to profit growth and maximizing shareholder value [3]. - In the second half of the year, the company plans to continue focusing on its core business, with the implementation of the red and yellow light project and the expansion of Mini/Micro LED chip R&D and manufacturing [3]. - The introduction of high-end products such as Mini direct display, automotive lighting, and backlighting is anticipated to further enrich the company's product categories [3].

证券代码：300708 证券简称：聚灿光电 公告编号：2025-058 聚灿光电科技股份有限公司 关于公司2025年半年度募集资金存放与使用情况的 专项报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 根据深圳证券交易所发布的《深圳证券交易所上市公司自律监管指引第 2 号——创 业板上市公司规范运作》及《深圳证券交易所创业板上市公司自律监管指南第 2 号—— 公告格式》相关格式指引的规定，将聚灿光电科技股份有限公司（以下简称"公司"） 一、 募集资金基本情况 年产 240 万片红黄光外延芯片项目，根据《上市公司监管指引第 2 号——上市公司募 集资金管理和使用的监管要求》 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会《关于同意聚灿光电科技股份有限公司向特定对象发行 股票注册的批复》（证监许可2023143 号文）同意注册，公司于 2023 年 8 月向特定对 象发行人民币普通股（A 股）118,000,000 股，每股发行价为 9.20 元，应募集资金总额 为人民币 108,560.00 万元，根据有关规定扣除发行费用 404.98 万元 ...