1、2021年9月27日，公司第一届董事会第十四次会议审议通过了《关于公司 <2021年限制性股票激励计划（草案）>及其摘要的议案》、《关于公司<2021年限 制性股票激励计划实施考核管理办法>的议案》、《关于公司<2021年限制性股票 激励计划管理办法>的议案》以及《关于<提请公司股东大会授权董事会办理2021 年限制性股票激励计划相关事宜>的议案》。公司独立董事就本激励计划相关议案 发表了独立意见。 2、2021 年 9 月 27 日，公司第一届监事会第十次会议审议通过了《关于公 司<2021 年限制性股票激励计划（草案）>及其摘要的议案》、《关于公司<2021 年限制性股票激励计划实施考核管理办法>的议案》、《关于公司<2021 年限制性 股票激励计划管理办法>的议案》以及《关于核实公司<2021 年限制性股票激励 计划首次授予激励对象名单>的议案》，公司监事会对本激励计划的事项进行核实 并出具了相关核查意见。 3、2021 年 12 月 27 日，公司在上海证券交易所网站（www.sse.com.cn）披 1 证券代码：688055 证券简称：龙腾光电 公告编号：2025-012 昆山龙腾光电股份有限 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥600,969,190.51, representing a decrease of 35.16% compared to ¥926,819,676.17 in the same period last year[3] - The net profit attributable to shareholders was -¥57,227,841.69, slightly improved from -¥58,779,802.35 year-on-year[3] - The basic and diluted earnings per share were both -¥0.017, consistent with the previous year's -¥0.018[3] - Total revenue for Q1 2025 was ¥600,969,190.51, a decrease of 35.2% compared to ¥926,819,676.17 in Q1 2024[17] - Net loss for Q1 2025 was ¥57,227,841.69, slightly improved from a net loss of ¥58,779,802.35 in Q1 2024[18] - Operating profit for Q1 2025 was -¥73,849,188.08, compared to -¥75,504,753.84 in Q1 2024, indicating a marginal improvement[18] Cash Flow - The net cash flow from operating activities increased significantly to ¥180,713,447.43, compared to -¥10,000,626.78 in the previous year, marking a 1,907.02% change[3] - Cash received from sales in Q1 2025 was ¥859,669,928.47, down 14.7% from ¥1,007,660,466.48 in Q1 2024[21] - Total cash inflow from investment activities amounted to $1.02 billion, while cash outflow was $1.17 billion, resulting in a net cash flow of -$152.84 million[22] - Cash inflow from financing activities was $280.17 million, with cash outflow totaling $126.98 million, leading to a net cash flow of $153.19 million[23] - The ending balance of cash and cash equivalents was $321.44 million, compared to $2.09 billion in the previous period[23] - The company received tax refunds totaling $14.46 million, down from $24.33 million in the previous period[22] - Cash paid for employee compensation was $142.04 million, slightly decreased from $147.89 million[22] - Cash paid for various taxes was $16.50 million, compared to $27.85 million previously[22] - Cash inflow from the recovery of investments was $1.01 billion, with no prior period comparison available[22] - Cash paid for the acquisition of fixed assets was $36.92 million, a slight decrease from $38.25 million[22] - The impact of exchange rate changes on cash and cash equivalents was a decrease of $1.41 million, contrasting with an increase of $3.54 million in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,671,614,038.49, up 1.38% from ¥6,580,807,029.34 at the end of the previous year[4] - Total liabilities increased to ¥2,440,812,718.73 from ¥2,292,847,281.28, reflecting a rise of 6.5%[16] - The company's total non-current assets were ¥3,676,736,567.59, slightly down from ¥3,686,583,719.66[16] - The total current assets amounted to RMB 2,994,877,470.90, an increase from RMB 2,894,223,309.68 in the previous period[14] - The inventory level was RMB 626,594,148.13, showing a slight increase from RMB 615,177,279.88[14] - The company holds cash and cash equivalents of RMB 321,439,469.45, up from RMB 141,783,946.97[14] - The total non-current assets are valued at RMB 3,546,000,000, with fixed assets accounting for RMB 2,508,949,399.18[14] Shareholder Information - The equity attributable to shareholders decreased by 1.33% to ¥4,230,801,319.76 from ¥4,287,959,748.06[4] - The largest shareholder, Kunshan Guochuang Investment Group Co., Ltd., holds 1,530,000,000 shares, representing 45.90% of total shares[8] - The company has a total of 10 major shareholders, with the largest being Kunshan Guochuang Investment Group Co., Ltd., holding 1,530,000,000 shares[9] - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[10] Research and Development - Research and development expenses totaled ¥47,851,349.42, accounting for 7.96% of operating revenue, an increase of 2.18 percentage points from 5.78%[4] - Research and development expenses for Q1 2025 were ¥47,851,349.42, a decrease from ¥53,524,662.18 in Q1 2024[18] Market Conditions - The decline in operating revenue was attributed to a slow global economic recovery and ongoing trade disputes, affecting the small-sized display industry[6] Other Information - The company reported non-recurring gains of ¥5,074,058.26, primarily from government subsidies and other non-operating income[6] - The company has not disclosed any new product launches or technological advancements in the recent conference call[11] - There are no significant mergers or acquisitions reported in the latest financial disclosures[11] - Total operating costs for Q1 2025 were ¥663,195,838.55, down 30.6% from ¥955,902,305.04 in Q1 2024[17]

Financial Performance - The company reported a negative distributable profit for 2024, thus no cash dividends or capital reserve transfers will be made[8]. - The company reported total operating revenue of CNY 3,413,133,710.24 for 2024, a decrease of 9.77% compared to the previous year[24]. - The net profit attributable to shareholders was CNY -190,318,664.86, showing an improvement of 31.64% year-on-year[25]. - The basic earnings per share for 2024 was CNY -0.057, compared to CNY -0.084 in 2023[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -246,813,424.41, an improvement of 17.49% year-on-year[25]. - The net cash flow from operating activities decreased by 64.93% to CNY 248,230,083.29 compared to the previous year[25]. - The total assets at the end of 2024 were CNY 6,580,807,029.34, a decrease of 10.68% from the previous year[24]. - The weighted average return on equity was -4.33%, an increase of 1.66 percentage points from the previous year[23]. - The company's asset-liability ratio stood at 34.84%, which is relatively low within the industry[34]. - The company's total revenue for the reporting period was CNY 3,413.13 million, a decrease of 9.77% compared to the same period last year[66]. Research and Development - The company’s R&D expenditure accounted for 6.71% of operating revenue, an increase of 0.89 percentage points from the previous year[23]. - R&D investment for the reporting period was approximately 22.9 million RMB, accounting for 6.71% of operating revenue, with 221 new patents granted[36]. - The company achieved a total R&D investment of ¥228,997,062.18, representing a 4.04% increase compared to the previous year[51]. - The company received 58 new invention patents and 163 utility model patents during the reporting period, bringing the total authorized patents to 3,384[49]. - The company is focusing on innovative technologies such as dynamic privacy protection and low-power display solutions, which are at the industry advanced level[58]. - The company has made significant progress in R&D, including improvements in metal oxide technology and the development of new notebook panel anti-peep structures to enhance product reliability and meet customer needs[46]. Market Position and Strategy - The company ranked sixth globally in vehicle display panel shipments and ninth in notebook panel shipments for 2024[42]. - The company is focusing on expanding its overseas production bases and optimizing its supply chain to enhance its global business layout[35]. - The company is committed to enhancing its product structure and performance in key areas such as automotive displays and smart cockpit technologies[35]. - The company is actively expanding its market presence and developing differentiated products to meet the growing demand for high-resolution and energy-efficient displays[70]. - The company aims to implement a differentiated, high-value, and customized strategy to enhance its competitive edge in the display panel industry[76]. ESG and Sustainability - The company received AA-level evaluation from Zhidin ESG and has been recognized with multiple awards for its ESG initiatives[37]. - The company is committed to accelerating ESG initiatives, integrating sustainable practices into daily operations, and enhancing its ESG management system to support carbon neutrality goals[134]. - The company is actively participating in social contributions and promoting the development and use of recycled materials in its supply chain[200]. - The company is committed to building a sustainable supply chain through supplier ESG construction and collaboration[200]. - The company has set scientific carbon targets (SBT) and is actively conducting carbon inventory and verification to promote low-carbon development[200]. Corporate Governance - The company maintains a robust corporate governance structure, ensuring independence from its controlling shareholder and compliance with relevant laws and regulations[137]. - The board of directors is composed of qualified members who fulfill their duties diligently, ensuring sound decision-making and governance practices[139]. - The company has established an effective internal control system to ensure compliance with financial reporting standards and optimize management processes[142]. - The company received an A-level rating for its information disclosure practices from the Shanghai Stock Exchange, reflecting its commitment to transparency and investor rights[143]. - The company has implemented a comprehensive ESG strategy, focusing on safety, environmental compliance, and energy-saving projects to enhance its sustainable development efforts[134]. Future Outlook - The global smartphone market is expected to recover in 2024, driven by the release of pent-up demand, with a steady increase in shipments anticipated[123]. - The automotive display market is projected to grow due to the rapid development of the electric vehicle market and the increasing demand for advanced cockpit information systems[122]. - The electronic paper market is expected to expand significantly, supported by policies promoting paperless applications and the technology's advantages in low carbon and eye protection[123]. - The company plans to enhance its global supply chain by establishing overseas production bases, optimizing product structure, and expanding into emerging markets such as smart cockpits and AI applications[127]. - The company aims to strengthen its technological advantages by increasing R&D investment in diverse technologies, including Mini LED, health-oriented displays, and dynamic privacy protection[128].

上海兰迪律师事务所 关于昆山龙腾光电股份有限公司 2021 年限制性股票激励计划 作废部分限制性股票的 法 律 意 见 书 中国上海市虹口区东大名路 1089 号北外滩来福士广场东塔 16 楼（20082） 16th Floor, East Tower, Raffles City, No.1089, Dongdaming Road, Hongkou District, 200082, Shanghai, China Tel: 8621-66529952 Fax: 8621-66522252 www.landinglawyer.com 上海兰迪律师事务所 关于昆山龙腾光电股份有限公司 2021 年限制性股票激励计划作废部分限制性股票的 法律意见书 致:昆山龙腾光电股份有限公司 上海兰迪律师事务所接受昆山龙腾光电股份有限公司(以下简称"龙腾光电" 或"公司",证券代码 688055）的委托,为公司实施 2021 年限制性股票激励计 划所涉及的相关事宜出具法律意见书。 本所律师根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公 司股权激励管理办法》《国有控股上市公司(境内)实施股权激励试行办法》《关 于规 ...

昆山龙腾光电股份有限公司 审计报告 2024 年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 审计报告 苏公 W[2025]A551 号 昆山龙腾光电股份有限公司全体股东： 一、审计意见 我们审计了昆山龙腾光电股份有限公司（以下简称"龙腾光电"）的财务报表， 包括2024年12月31日的合并及母公司资产负债表，2024年度的合并及母公司利润表、 合并及母公司现金流量表、合并及母公司所有者权益变动表，以及财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制，公 允反映了龙腾光电2024年12月31日的合并及母公司财务状况以及2024年度的合并及 母公司经营成果和现金流量。 二、形成审计意见的基 ...

昆山龙腾光电股份有限公司 非经营性资金占用及其他关联 2024 年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 资金往来情况的专项说明 关于昆山龙腾光电股份有限公司 非经营性资金占用及其他关联资金往来情况的专项说明 苏公W[2025]E1215号 昆山龙腾光电股份有限公司全体股东： 如实编制和对外披露汇总表并确保其真实、准确、合法及完整是龙腾光电管理 层的责任。我们对汇总表所载资料与我们审计龙腾光电 2024 年度财务报表时所复核 的会计资料和经审计的财务报表的相关内容进行了核对，在所有重大方面没有发现 不一致。除了对龙腾光电实施 2024 年度财务报表审计中所执行的关联交易有关的审 计程序外，我们并未对汇总表所载资料 ...

昆山龙腾光电股份有限公司 内部控制审计报告 2024 年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 内部控制审计报告 苏公 W[2025]E1216 号 昆山龙腾光电股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们 审计了昆山龙腾光电股份有限公司（以下简称龙腾光电）2024年12月31日的财务报 告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控 制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是龙腾光电 董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控 ...

公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 昆山龙腾光电股份有限公司 营业收入扣除情况的 专项核查意见 2024 年度 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 中国．江苏．无锡 Wuxi．Jiangsu．China 2024 年度营业收入扣除情况的专项核查意见 苏公W[2025]E1213号 昆山龙腾光电股份有限公司全体股东： 我们接受委托，审计了昆山龙腾光电股份有限公司（以下简称龙腾光电）财务 报表，包括 2024 年 12 月 31 日的合并及母公司资产负债表，2024 年度的合并及母 公司利润表、合并及母公司现金流量表、合并及母公司所有者权益变动表以及相关 财务报表附注，并于 2025 年 4 月 25 日出具了苏公 W[2025]A551 号无保留意见审计 报告。在此基础上，我们核查了后附的龙腾光电管理层编 ...

Core Viewpoint - The report from Guosen Securities expresses optimism about domestic panel leaders like BOE Technology Group (000725.SZ) capitalizing on the era of consumption upgrade and localization in China, leveraging scale effects, cost advantages, and market share to steadily improve profitability [1] Industry Overview - The LCD industry is experiencing a non-seasonal demand, with global large-size LCD panel revenue in February showing a month-on-month increase of 3.15% and a year-on-year increase of 18.88%, reaching $5.54 billion [2] - The average gross margin of major Chinese LCD manufacturers decreased by 0.77 percentage points year-on-year and 0.56 percentage points quarter-on-quarter to 14.91% in Q3 2024, while net profit margin increased by 0.15 percentage points year-on-year but decreased by 0.69 percentage points quarter-on-quarter to 1.75% [3] Price Trends - In March 2025, prices for various sizes of LCD TV panels increased month-on-month, with a forecast for April indicating stable prices across all sizes [4] - The prices for 10.1-inch, 14-inch, and 23.8-inch LCD IT panels remained stable in March 2025, with a slight increase in the 23.8-inch display panel price [4] Supply and Demand Dynamics - In February, the global large-size LCD panel shipment area grew by 28.27% year-on-year, with significant increases in shipments for TVs (31.54%), monitors (11.70%), notebooks (30.23%), and tablets (21.89%) [5] - The global large-size LCD production capacity is expected to grow by 2.31% in 2024 compared to 2023, with a slight increase in capacity expected in the first three quarters of 2024 [5] Market Outlook - The LCD industry is anticipated to stabilize in terms of capacity, with the potential for further concentration of market share due to the shutdown and sale of production lines by overseas manufacturers, which may help regulate LCD TV panel prices and enhance the profitability stability of LCD panel companies [6]

Core Viewpoint - The 13th China Electronic Information Expo (CITE 2025) showcased innovative display technologies from various manufacturers, highlighting advancements in OLED, Mini-LED, and other display technologies. Group 1: TCL Huaxing - TCL Huaxing presented its HVA Ultra Starry Screen, featuring 178° wide viewing angle, DCI-P3 98% color gamut, and a narrow bezel of 2.9mm, achieving picture quality comparable to OLED [2] - The company showcased its first mass-produced printed OLED 4K display with a 120Hz refresh rate and a bezel-less design, currently with a production capacity of 5.5K, aiming to expand to over 10K [4] - TCL Huaxing's environment light adaptive TV screen utilizes advanced a-Si In-cell Sensor technology to automatically adjust brightness and color temperature, effectively reducing energy consumption [5] - Additional products included an eye-care tablet with anti-reflective features and the world's thinnest LCD laptop module [7] Group 2: Tianma Microelectronics - Tianma Microelectronics focused on automotive display products, showcasing a 13-inch dual-screen curved OLED display that enhances readability and interaction for drivers [8] - The display features Corning's Cold Form™ technology, achieving a reflection rate of 0.5% and a color deviation of Delta E<0.8, creating an integrated large-screen visual effect [10] - The company also exhibited ultra-narrow bezel, high-resolution flexible screens, and low-power displays [11] Group 3: Hehui Optoelectronics - Hehui Optoelectronics displayed a flexible 11.3-inch AMOLED tablet with variable refresh rates from 1 to 120Hz, utilizing IGZO technology for low power consumption and high brightness [13] - In the automotive sector, a 13-inch 2.5K tandem AMOLED display was showcased, achieving peak brightness of 2500 nits and a lifespan four times longer than single-layer displays, with a 30% reduction in power consumption [15] - Other products included a 6.02-inch FHD+ flexible AMOLED phone display and a 27-inch 4K 120Hz AMOLED desktop monitor [17] Group 4: Longteng Optoelectronics - Longteng Optoelectronics presented a 14-inch interactive privacy screen with a resolution of 1920*1200 and a contrast ratio of 1500:1, featuring low blue light protection [18] - The company also showcased displays for the medical industry, including 8.4-inch, 12.1-inch, and 15-inch screens designed for clinical monitoring [20] - In the automotive display sector, a 12.3-inch anti-peep touch screen was exhibited, supporting FHD resolution and 1000 nits brightness [21] Group 5: Dahui International - Dahui International, a partner of AUO, highlighted a new generation of Micro LED transparent displays with a lifespan of 100,000 hours and a brightness of 1200 nits [24][26] Group 6: Philips Television - Philips showcased its 75-inch QD-MiniLED wall-mounted AI television MLED960, featuring a refresh rate of 288Hz and a color gamut of 93% DCI-P3 [27] - The 75-inch ambient light television PUF8568 intelligently adjusts ambient light to balance screen brightness, reducing visual strain [28] Group 7: Play Your Dream - Play Your Dream introduced the world's first Android-based spatial computer, featuring dual 8K Micro-OLED screens with a resolution of 27 million pixels and a refresh rate of 90Hz [31][33]