证券代码：688025 证券简称：杰普特 公告编号：2024-072 1 本员工持股计划名下之日起满 12 个月、24 个月、36 个月，每期解锁的标的股票 比例分别为 30%、30%、40%，各期具体解锁比例和数量根据公司业绩考核指标 和持有人考核结果计算确定。 公司将根据本次持股计划实施的进展情况，按照相关法律法规的规定及时履 行信息披露义务，敬请广大投资者关注相关公告并注意投资风险。 深圳市杰普特光电股份有限公司 关于 2024 年员工持股计划完成股票非交易过户的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 深圳市杰普特光电股份有限公司（以下简称"公司"）分别于 2024 年 8 月 29 日、2024 年 9 月 9 日召开了第三届董事会第二十九次会议、第三届监事会第二 十二次会议和 2024 年第四次临时股东大会，审议通过了《关于<深圳市杰普特光 电股份有限公司 2024 年员工持股计划（草案）及其摘要>的议案》及其相关议案。 具体内容详见公司分别于 2024 年 8 月 31 日、2024 年 9 月 ...

证券代码：688025 证券简称：杰普特 公告编号：2024-071 深圳市杰普特光电股份有限公司 关于召开 2024 年半年度暨第三季度 业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 投资者可于 2024 年 12 月 9 日(星期一)至 12 月 13 日(星期五)16:00 前登录上 证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@jptoe.com 进行 提问。公司将在说明会上对投资者普遍关注的问题进行回答。 深圳市杰普特光电股份有限公司（以下简称"公司"）已于 2024 年 8 月 24 日、2024 年 10 月 30 日发布了公司 2024 年半年度报告及 2024 年第三季度报告， 为便于广大投资者更全面深入地了解公司2024年半年度及2024年第三季度经营 成果、财务状况，公司计划于 2024 年 12 月 16 日下午 13:00-14:00 举行 2024 年 半年度暨第三季度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次业绩说明会以 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [2][5] Core Insights - The company has shown continuous growth in Q3, driven by increased revenue from optical detection in camera module business and stable growth in laser business, contributing to profit growth [4] - The collaboration with North American clients in optical detection has expanded over the years, focusing on camera module detection, VCSEL chip module detection, and MR optical detection for AR devices [4] - The laser business continues to demonstrate advantages, with a strategic shift towards applications in new energy sectors, including laser welding for power batteries and metal 3D printing, leading to improved product profitability [4] - Despite a slowdown in overall equipment demand in the new energy sector, the company remains optimistic about growth opportunities, having made breakthroughs in various applications [4] Financial Summary - The company is projected to achieve revenues of 1.4 billion, 1.8 billion, and 2.1 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 150 million, 211 million, and 261 million yuan [5][8] - The expected growth rates for revenue are 14.98%, 27.77%, and 16.76% for the years 2024, 2025, and 2026 respectively [8] - The company's PE ratios for 2024, 2025, and 2026 are projected to be 33, 23, and 19 respectively, indicating a favorable valuation trend [5][8]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market [7][9]. Core Insights - The company reported a revenue of 1.07 billion yuan for the first three quarters of 2024, representing a year-over-year increase of 18.41%. The net profit attributable to the parent company was 103 million yuan, up 23.05% year-over-year [7]. - In Q3 2024, the company achieved a revenue of 476 million yuan, reflecting a significant year-over-year growth of 41.02% and a quarter-over-quarter increase of 40.97% [10]. - The report highlights the positive progress in the company's module testing projects, which are expected to enhance profitability [9]. Financial Summary - The company’s total revenue projections for 2024E, 2025E, and 2026E are 1.406 billion yuan, 1.7 billion yuan, and 2.051 billion yuan, respectively, with corresponding year-over-year growth rates of 14.7%, 20.9%, and 20.6% [8]. - The net profit forecasts for the same years are 133 million yuan, 188 million yuan, and 250 million yuan, with year-over-year growth rates of 23.6%, 41.9%, and 32.8% [8]. - The report indicates a stable gross margin of around 40% and a projected return on equity (ROE) increasing from 5.2% in 2024 to 9.9% in 2026 [8]. Business Development - The company is benefiting from increased demand for camera module testing due to technological advancements and expansion in domestic module manufacturing [10]. - The report notes that the company has successfully developed new testing equipment for VCSEL chip modules and is actively pursuing opportunities in various sectors, including renewable energy and passive components [11].

Investment Rating - The report maintains a "Buy" rating for the company, with a market price of RMB 49.94 and a sector rating of "Outperform" [2][4]. Core Insights - The company reported a steady growth in Q3 2024, with revenue reaching RMB 1.07 billion, a year-on-year increase of 18.41%, and a net profit of RMB 103 million, up 23.05% year-on-year. The growth is attributed to the recovery in demand from the consumer electronics sector and the stable performance of its laser business [4][6]. - The company is a leading player in the domestic MOPA laser market and is expanding its applications in various fields, including photovoltaics and consumer electronics. This diversification is expected to drive future growth as downstream demand improves [4][7]. - The report highlights the company's strong profitability, with a gross margin of 40.20% and a net margin of 9.12% for the first three quarters of 2024. The company has effectively controlled its expense ratios, contributing to its overall financial health [4][6]. Financial Summary - For the first three quarters of 2024, the company achieved a revenue of RMB 1.07 billion, with a gross profit margin of 40.20%, and a net profit margin of 9.12% [4][6]. - The company’s revenue for Q3 2024 was RMB 476.34 million, reflecting a 41.02% increase year-on-year, while the net profit for the same period was RMB 48.52 million, up 38.99% year-on-year [7][8]. - The report projects revenues of RMB 14.19 billion, RMB 17.96 billion, and RMB 21.31 billion for 2024, 2025, and 2026 respectively, with corresponding net profits of RMB 1.49 billion, RMB 2.13 billion, and RMB 2.59 billion [4][5].

Investment Rating - The investment rating for the company is "Buy" [2][10]. Core Views - The company has shown strong performance in its optical module testing equipment business, with Q3 revenue growth of 41.02% year-on-year, reaching 476 million yuan [4][6]. - The company reported a net profit of 49 million yuan in Q3, a year-on-year increase of 38.99% [4][6]. - The gross margin for the first three quarters of 2024 was 40.20%, an increase of 0.75 percentage points year-on-year, indicating strong profitability [5]. - The company is expanding its optical detection equipment segment, particularly in camera module testing, which is expected to drive future revenue growth [6][7]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved revenue of 1.07 billion yuan, a year-on-year increase of 18.41%, and a net profit of 103 million yuan, up 23.05% [4][5]. - The projected revenue for 2024 is 1.44 billion yuan, with a net profit forecast of 158 million yuan [8]. Profitability Metrics - The company maintained a high gross margin of 40.20% and a net profit margin of 9.65% for the first three quarters of 2024 [5]. - The Q3 single-quarter gross margin was 39.91%, reflecting a slight decrease compared to the previous quarter [5]. Market Position and Growth Potential - The company is a leader in the MOPA laser market and is actively expanding into emerging fields such as perovskite technology [7]. - The company has received multiple customer orders for its perovskite film cutting equipment, indicating strong demand and a competitive edge in the market [7]. Earnings Forecast - The company is expected to achieve net profits of 158 million yuan, 200 million yuan, and 247 million yuan for the years 2024, 2025, and 2026, respectively [8]. - Corresponding EPS for these years are projected to be 1.66 yuan, 2.11 yuan, and 2.59 yuan [8].

Investment Rating - The report maintains a "Recommended" rating for the company with a target price of 59.64 CNY, compared to the current price of 51.78 CNY [1]. Core Views - The company reported revenue growth of 18.41% year-on-year for the first three quarters of 2024, reaching 1.07 billion CNY, and a net profit increase of 23.05%, totaling 103 million CNY. In Q3 alone, revenue was 476 million CNY, up 41.02% year-on-year, with net profit at 49 million CNY, a 38.99% increase [1]. - The growth in Q3 is attributed to increased revenue from the camera module optoelectronic active detection business and stable growth in the laser business, contributing to profit growth [1]. - The company is a leader in MOPA laser technology and has optimized its product structure and focused its R&D efforts, which have shown positive results. The manufacturing PMI data indicates a weak manufacturing sector, but a recovery is expected to boost the laser business further [1]. - The company has diversified its operations in sectors such as new energy, consumer electronics, and passive components, with notable progress in each area, including receiving multiple customer orders in the perovskite field and actively supporting clients in establishing GW-level production lines [1]. - The investment forecast for 2024-2026 has been adjusted downwards due to weaker-than-expected manufacturing and XR industry conditions, with projected revenues of 1.47 billion CNY, 1.90 billion CNY, and 2.50 billion CNY, and net profits of 149 million CNY, 203 million CNY, and 283 million CNY respectively [1][2]. Financial Summary - For 2023, total revenue is projected at 1.23 billion CNY, with a year-on-year growth rate of 4.5%. The net profit is expected to be 107 million CNY, reflecting a 40.1% increase [2]. - The earnings per share (EPS) for 2024 is estimated at 1.57 CNY, with a price-to-earnings (P/E) ratio of 33 [2]. - The company maintains a healthy balance sheet with a debt-to-asset ratio of 25.29% and a net asset value per share of 21.05 CNY [3].

Group 1: Financial Performance - The company reported significant asset impairment in Q3 due to high inventory levels and stagnant materials from R&D projects, particularly in continuous laser devices and passive components [2] - Q3 revenue growth was primarily driven by increased income from camera module optoelectronic active detection business and stable growth in laser business [2] - The company maintains an optimistic outlook for continuous revenue growth in the laser sector, particularly in the context of strategic adjustments made since Q3 [3] Group 2: Business Development - The optical detection business has expanded significantly since 2014, with a focus on camera module detection, benefiting from technological advancements and increased demand from domestic manufacturers [2] - The company has received multiple orders for perovskite film cutting equipment, indicating a leading position in the industry as of Q3 [2] - Despite a slowdown in overall equipment demand in the new energy sector, the company continues to see growth opportunities and has made breakthroughs in various applications [3] Group 3: Investor Relations - The investor relations activity took place on October 29, 2023, via a network meeting, involving multiple investment institutions and analysts [1] - The company ensured compliance with information disclosure regulations, maintaining transparency and accuracy during investor communications [4]

深圳市杰普特光电股份有限公司 2024 年第三季度报告 单位：元 币种：人民币 1 / 11 证券代码：688025 证券简称：杰普特 深圳市杰普特光电股份有限公司 2024 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 （一） 主要会计数据和财务指标 | --- | --- | --- | --- | --- | |---------------------------------------------------------|----------------|-----------------------------------------|--------------- ...

（一）信用减值损失 深圳市杰普特光电股份有限公司 关于 2024 年第三季度计提资产减值准备的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、2024 年第三季度计提减值准备的情况概述 根据《企业会计准则》和深圳市杰普特光电股份有限公司（以下简称"公司"） 会计政策的相关规定，为客观、公允地反映公司截至 2024 年 9 月 30 日的财务状 况及经营成果，本着谨慎性原则，公司对截至 2024 年 9 月 30 日公司及下属子公 司的资产进行了减值测试，对可能发生资产减值损失的相关资产计提减值准备。 公司 2024 年第三季度计提各项资产减值准备合计 41,795,493.92 元，具体情况如 下表： 证券代码：688025 证券简称：杰普特 公告编号：2024-070 | 项目 | 本期发生额（元） | | --- | --- | | 信用减值损失 | -7,431,784.29 | | 其中：应收票据坏账损失 | -41,797.36 | | 应收款项融资坏账损失 | -982,368.04 | | 应收账款 ...