登录新浪财经APP 搜索【信披】查看更多考评等级 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。 一、基本情况 深圳市宝明科技股份有限公司（以下简称"公司"）于2025年10月30日召开第五届董事会第十一次会议和 2025年11月17日召开2025年第一次临时股东大会，审议通过了《关于修订〈公司章程〉并办理工商变更 登记的议案》。具体内容详见公司于2025年10月31日披露在巨潮资讯网（http://www.cninfo.com.cn）上 的《关于修订〈公司章程〉并办理工商变更登记及修订、新增公司部分治理制度的公告》（公告编号： 2025-051）。 近日，公司完成了工商变更登记及公司章程备案手续，本次备案登记后的工商登记基本信息如下： 8、经营范围：一般经营项目是：研发、生产销售背光源、新型平板显示器件；货物及技术进出口； （法律、行政法规、国务院决定规定需前置审批和禁止的项目除外）；机械设备租赁（不配备操作人员 的机械设备租赁，不包括金融租赁活动）。新材料技术研发；新兴能源技术研发；新型膜材料制造；新 型膜材料销售；电子专用材料研发；电子专用材料制造；电子 ...

Summary of the Conference Call for Lianchuang Optoelectronics Company Overview - **Company**: Lianchuang Optoelectronics - **Industry**: Laser and Superconducting Technology Key Financial Performance - **Revenue**: In the first three quarters of 2025, total revenue reached 25.03 billion yuan, a year-on-year increase of 2.85% [3] - **Net Profit**: The net profit attributable to shareholders exceeded 4 billion yuan, up 19.37% year-on-year [3] - **Gross Margin**: The overall gross margin was 19.73%, an increase of 0.73% compared to the same period last year [3] - **Quarterly Performance**: In Q3 2025, net profit was 1.37 billion yuan, a 28.31% increase year-on-year, with a gross margin of 20.29% [3] Business Segment Performance - **Laser Business**: Revenue from laser products was 12.75 billion yuan, a slight decline of 10% year-on-year [2][7] - **Backlight Source Business**: Revenue from backlight sources was 8.6 billion yuan, showing a growth of approximately 15% year-on-year [2][7] - **Subsidiary Performance**: The subsidiary, Zhongjiu Optoelectronics, reported a significant revenue increase of 455.76% to 1.97 billion yuan, with profits nearing 30 million yuan, a growth of over 700% [2][4] Technological Advancements - **Superconducting Technology**: The high-temperature superconducting single crystal silicon growth furnace technology has reached a global leading level, with a verification order from China Nuclear Industry Group worth 41.8 million yuan [2][6] - **Nuclear Fusion Applications**: High-temperature superconducting technology is crucial for controlled nuclear fusion, enhancing output power by 16 times compared to traditional conductors [10] Market Expansion and Future Outlook - **Market Development**: The company is actively expanding its market presence through diverse channels, including military trade and participation in international exhibitions [5] - **Future Projects**: The "Spark One" project is progressing steadily, with plans for demonstration power generation by 2030 and continuous stable power generation by 2032-33 [12][13] - **Electromagnetic Launch Projects**: Collaboration with Ziyang State-owned Assets and Ziyang Commercial Aerospace for electromagnetic launch projects is underway, marking a strategic move into emerging markets [14] Risk Management and Inventory - **Inventory Management**: In 2024, significant impairment provisions were made for backlight source inventory, particularly for mobile devices, which is expected to alleviate pressure in 2025 [9] Conclusion - **Overall Assessment**: Lianchuang Optoelectronics shows a robust financial performance with promising growth in its laser and superconducting segments, alongside strategic market expansions and technological advancements that position the company favorably for future opportunities [2][3][4][5][6][10]

Summary of Lianchuang Optoelectronics Conference Call Company Overview - **Company**: Lianchuang Optoelectronics - **Industry**: Focused on controllable nuclear fusion, high-temperature superconductors, commercial aerospace, and laser technology Key Points Industry and Market Position - Lianchuang Optoelectronics is actively involved in the controllable nuclear fusion sector, particularly through the participation in the Spark One project, which is expected to enter the main equipment construction phase by 2026-2027, potentially generating orders worth approximately 5.1 billion yuan for the company [2][9] - The company collaborates with Shanghai Superconductor, which holds over 80% market share in the domestic second-generation high-temperature superconductor tape market. This market is projected to exceed 10 billion yuan by 2030, with an expected annual compound growth rate of over 50% in the coming years [2][3][8] - Lianchuang has made progress in the commercial aerospace sector based on high-temperature superconducting magnet technology and has entered the anti-drone laser business, securing a 19.6 million yuan order from the Ziyang Commercial Aerospace Launch Technology Research Institute [2][4][10] Financial Performance and Projections - The company’s traditional business, including backlight sources and smart controllers, has shown stable growth through production optimization and market expansion, contributing to overall performance stability [2][6][12] - Future net profit projections for Lianchuang Optoelectronics are 580 million yuan, 720 million yuan, and 880 million yuan for the next three years, with year-on-year growth rates of 142%, 24%, and 21%, respectively. Corresponding price-to-earnings ratios are expected to be 47x, 38x, and 31x, indicating significant valuation upside potential [2][14] Emerging Business Opportunities - The controllable nuclear fusion sector presents significant growth opportunities, with the company expected to complete system and device debugging by 2028-2029, entering the demonstration power generation phase [9] - The commercial aerospace market is anticipated to grow at 15% annually from 2024 to 2034, with superconducting magnet technology being a key application area [10] - The laser business, particularly the "Guangren" product, is expected to drive future growth, supported by a rapidly expanding global and Chinese laser weapon market [11][16] Risks and Challenges - Key risks include the potential underperformance of the nuclear fusion industry, disappointing market performance of laser products, and inherent risks in traditional business operations, which could impact overall profitability and market performance [4][15] Investment Recommendations - Investors are encouraged to monitor Lianchuang Optoelectronics due to its growth potential across both traditional and emerging business segments. The company’s current valuation presents a significant upside opportunity compared to peers [17]

Group 1 - The company Shenzhen Baoming Technology Co., Ltd. held its fifth board meeting on April 28, 2025, and the annual shareholders' meeting on May 20, 2025, where it approved the proposal to change the registered capital and amend the Articles of Association [2] - The company has completed the business registration change and the filing of the amended Articles of Association, with the updated business scope including research and development, production, and sales of backlight sources and new flat panel display devices [3] - The company is also involved in the import and export of goods and technology, as well as the leasing of mechanical equipment without operators, and has expanded its business to include new materials technology research and development, emerging energy technology research and development, and the manufacturing and sales of graphene materials and carbon products [3] Group 2 - The registered capital of the company is 180.868635 million RMB, and it was established on August 10, 2006 [5] - The company is classified as a listed other joint-stock company, with its legal representative being Li Jun [5] - The company's registered address is located in Longhua District, Shenzhen [5]

Core Viewpoint - The article highlights the growing interest in controllable nuclear fusion concept stocks, particularly focusing on Jiangxi Lianchuang Optoelectronics Technology Co., Ltd. (Lianchuang Optoelectronics), which has made significant progress in its transformation and upgrade efforts in recent years [2][3]. Company Performance - Lianchuang Optoelectronics reported a revenue of 800 million yuan in Q1 2025, representing a year-on-year increase of 11.54%, and a net profit attributable to shareholders of 116 million yuan, up 10.57% year-on-year [2]. - The company has successfully turned its backlight source business profitable since March, focusing on products with good development trends such as flat panel, automotive, and industrial control backlight sources [3]. Technological Innovation - The company is committed to continuous innovation, optimizing its industrial structure by focusing on smart control, laser, and high-temperature superconducting industries, which are gradually entering the commercialization phase [2]. - Lianchuang Optoelectronics is enhancing the performance, stability, and environmental adaptability of its laser products while expanding its product matrix to maintain a leading position in niche markets [3]. Industry Outlook - The commercialization of controllable nuclear fusion is accelerating, with global construction of fusion devices expected to yield 2 to 3 new operational devices annually in the coming years [4]. - The "Spark One" project, which utilizes high-temperature superconducting technology, is progressing from the planning phase to actual operation, with significant milestones expected between 2026 and 2029 [5]. Future Prospects - Experts predict that controllable nuclear fusion could achieve commercial application within the next 10 to 15 years, potentially becoming a crucial part of the global energy structure and contributing to sustainable development [6].