证券代码：688200 证券简称：华峰测控 北京华峰测控技术股份有限公司 第一节 本次发行证券及其品种选择的必要性 一、本次发行证券选择的品种 本次发行证券的种类为可转换为公司股票的可转换公司债券。该可转债及未 来转换的公司股票将在上海证券交易所科创板上市。 二、本次发行选择可转换公司债券的必要性 本次向不特定对象发行可转债募集资金投资项目均经过公司谨慎论证，项目 的实施有利于进一步提升公司的核心竞争力，增强公司的可持续发展能力，具体分 析详见上海证券交易所网站（www.sse.com.cn）同日披露的《北京华峰测控技术股 份有限公司向不特定对象发行可转换公司债券募集资金使用可行性分析报告》。 1 Beijing Huafeng Test & Control Technology Co.,Ltd. （北京市海淀区丰豪东路 9 号院 5 号楼 1 至 5 层 101,102,103） 向不特定对象发行可转换公司债券的 论证分析报告 二〇二五年一月 北京华峰测控技术股份有限公司（以下简称"华峰测控"或"公司"）系上海证券 交易所科创板上市公司。为满足公司业务发展的资金需求，增加公司资本实力，提 升盈利能力，根据《 ...

北京华峰测控技术股份有限公司 6-6-2 关于前次募集资金投向属于科技创新领域的说明 上海证券交易所： 北京华峰测控技术股份有限公司（以下简称"公司"）拟向不特定对象发行 可转换公司债券，根据《上市公司证券发行注册管理办法》《上海证券交易所科 创板股票上市规则》等有关法律、行政法规和中国证券监督管理委员会、上海证 券交易所的规定，就公司前次募集资金实际投向属于科技创新领域情况说明如下： 一、公司前次募集资金使用情况 经中国证券监督管理委员会 "证监许可[2020]93 号"文《关于同意北京华 峰测控技术股份有限公司首次公开发行股票注册的批复》的核准，北京华峰测控 技术股份有限公司（以下简称"公司"或"本公司"）采用公开方式发行人民币 普通股（A 股）15,296,297 股，发行价格为每股 107.41 元，共募集资金总额 1,642,975,260.77 元。扣除承销费用后的公司募集资金金额 1,528,613,803.64 元， 已于 2020 年 02 月 13 日由中国国际金融股份有限公司存入公司银行账户。另减 除律师费、审计费、法定信息披露等其他发行费用 16,355,220.68 元，公司本次实 ...

关于本次募集资金投向属于科技创新领域的说明 北京华峰测控技术股份有限公司（以下简称"华峰测控"或"公司"）根据 《上市公司证券发行注册管理办法》等有关规定，结合公司本次向不特定对象 发行可转换公司债券方案及实际情况，对向不特定对象发行可转换公司债券募 集资金投向是否属于科技创新领域进行了研究，编制了《关于本次募集资金投 向属于科技创新领域的说明》（以下简称"本说明"）。 如无特别说明，本说明中相关简称与术语具有与《北京华峰测控技术股份 有限公司向不特定对象发行可转换公司债券预案》中相同的含义。 一、公司的主营业务 公司主营业务为半导体自动化测试系统的研发、生产和销售。产品主要用 于模拟、数模混合、分立器件和功率模块等集成电路的测试，销售区域覆盖中 国大陆、中国台湾、美国、欧洲、日本、韩国、东南亚和印度等全球半导体产 业发达的国家和地区。 自成立以来，公司始终专注于半导体自动化测试系统领域，以自主研发的 产品实现了模拟及混合信号类半导体自动化测试系统的进口替代，同时不断拓 展在氮化镓、碳化硅以及IGBT等功率分立器件和功率模块类半导体测试领域的 覆盖范围。 2023 年，公司推出了面向 SoC 测试领域的全新一 ...

北京华峰测控技术股份有限公司 公司章程 二〇二五年一月 | | 目录 2 | | --- | --- | | 第一章 | 总则 1 | | 第二章 | 经营宗旨和经营范围 2 | | 第三章 | 股份 2 | | 第一节 | 股份发行 2 | | 第二节 | 股份增减和回购 3 | | 第三节 | 股份转让 5 | | 第四章 | 股东和股东大会 5 | | 第一节 | 股东 5 | | 第二节 | 股东大会的一般规定 8 | | 第三节 | 股东大会的召集 11 | | 第四节 | 股东大会的提案与通知 12 | | 第五节 | 股东大会的召开 13 | | 第六节 | 股东大会的表决和决议 16 | | 第五章 | 董事会 20 | | 第一节 | 董事 20 | | 第二节 | 董事会 23 | | 第三节 | 独立董事 27 | | 第四节 | 董事会专门委员会 28 | | 第六章 | 总经理及其他高级管理人员 29 | | 第七章 | 监事会 30 | | 第一节 | 监事 30 | | 第二节 | 监事会 31 | | 第八章 | 财务会计制度、利润分配和审计 32 | | 第一节 | 财务会计 ...

[Table_Page] 公司深度研究|专用设备 证券研究报告 [Table_Title] 华峰测控（688200.SH） 测试设备龙头，8600 有望打开新增长曲线 [Table_Summary] 核心观点： | 盈利预测： | | --- | | [Table_Finance] | 2022A | 2023A | 2024E | 2025E | 2026E | | --- | --- | --- | --- | --- | --- | | 营业收入（百万元） | 1071 | 691 | 917 | 1154 | 1384 | | 增长率（ ） % | 21.9% | -35.5% | 32.8% | 25.8% | 20.0% | | EBITDA（百万元） | 556 | 240 | 347 | 460 | 581 | | 归母净利润（百万元） | 526 | 252 | 341 | 448 | 560 | | 增长率（ % ） | 19.9% | -52.2% | 35.5% | 31.4% | 25.1% | | EPS（元/股） | 3.91 | 1.86 | 2.52 | 3.31 | 4.1 ...

Investment Rating - The report maintains a "Buy" rating for Huafeng Test & Control (688200 SH) [3] Core Views - Huafeng Test & Control's Q3 2024 performance exceeded expectations, with revenue reaching 242 million yuan, a year-on-year increase of 76 42%, and net profit attributable to the parent company reaching 101 million yuan, a year-on-year increase of 181 16% [4] - The company's gross profit margin in Q3 2024 reached 77 69%, the highest since Q1 2023, and the net profit margin after non-recurring items reached 39 7%, showing significant improvement [5] - The company's order book remains strong, with inventory and contract liabilities increasing sequentially at the end of Q3 2024, indicating a robust order pipeline [5] - The company's SoC testing machine (8600) is progressing well in customer validation and is expected to be delivered for client verification in 2025, potentially securing orders [6] - The company's overseas expansion is gaining momentum, with new facilities in Malaysia and the US, and increasing global customer engagement, setting the stage for future growth [7] Financial Performance - For Q1-Q3 2024, the company reported revenue of 621 million yuan, a year-on-year increase of 19 75%, and net profit attributable to the parent company of 213 million yuan, a year-on-year increase of 8 14% [4] - The company's net profit margin in Q3 2024 reached 41 55%, driven by improved profitability and investment gains [5] - The company's forecasted net profit for 2024 and 2025 is approximately 350 million yuan and 500 million yuan, respectively, with corresponding P/E ratios of 49x and 34x [7] Industry and Market Trends - The semiconductor testing industry has seen a recovery in demand since Q4 2023, driving the company's order book and revenue growth [5] - The company's platform-based design for its SoC testing machine allows for scalability and compatibility, making it well-suited for future chip iterations and higher-end applications [6] - The company's global strategy is advancing, with increasing overseas validation projects and a growing presence in key markets such as Malaysia and the US [7] Future Outlook - The company is expected to further expand its revenue scale in Q4 2024, with potential for further improvement in net profit margins [5] - The company's new product launches and overseas expansion are expected to drive future order growth and support long-term performance [5][7]

证券研究报告·公司点评报告·半导体 华峰测控（688200） 2024 年三季报点评：Q3 盈利能力显著好转， 看好 8600 导入验证&海外客户拓展 增持（维持） | --- | --- | --- | --- | --- | --- | |------------------------------|----------|---------|--------|----------|----------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 1,070.56 | 690.86 | 906.65 | 1,163.24 | 1,338.38 | | 同比（ % ） | 21.89 | (35.47) | 31.24 | 28.30 | 15.06 | | 归母净利润（百万元） | 526.29 | 251.65 | 344.96 | 458.49 | 538.59 | | 同比（ % ） | 19.95 | (52.18) | 37.08 | 32.91 | 17.47 | | EPS- 最 ...

电子/半导体 公 司 研 究 华峰测控（688200.SH） 2024 年 10 月 29 日 2024Q3 业绩同比高增，AI 应用拉动测试机需求 ——公司信息更新报告 业绩同比高增，市场需求加速提升，维持"买入"评级 2024Q1-3 实现营收 6.21 亿元，同比+19.75%；实现归 +8.14%；扣非净利润 2.23 亿元，同比+15.72%；毛利 ；净利率 34.3%，同比-3.68pcts。其中，2024Q3 营收 ，环比-0.05%；归母净利润 1.01 亿元，同比+181.16%， 0.96 亿元，同比+161.48%，环比+1.12%，主要系市 77.69%，同比+3.87pcts，环比+1.41pcts；归母净利率 41.55%，同比+15.48pcts；环比+4.79pcts。我们维持公司 2024-2026 年盈利预测， 预计 2024/2025/2026 年归母净利润为 3.49/4.44/5.66 亿元，预计 2024/2025/2026 年 EPS 为 2.58/3.28/4.18 元，当前股价对应 PE 为 42.7/33.5/26.3 倍。伴随行业周 期回暖，我们看好公司订 ...

证券代码：688200 证券简称：华峰测控 公告编号：2024-046 北京华峰测控技术股份有限公司 第三届监事会第七次会议决议公告 本公司监事会及全体监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。 《关于公司 2024 年第三季度报告的议案》 公司 2024 年第三季度报告的编制和审议程序符合法律、行政法规和公司内 部管理制度的相关规定，报告内容真实、准确、完整地反映了公司的经营成果和 财务状况，不存在任何虚假记载、误导性陈述或者重大遗漏。 表决结果：3 票同意，0 票反对，0 票弃权。 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《北 京华峰测控技术股份有限公司第三季度报告》。 特此公告。 北京华峰测控技术股份有限公司监事会 2024 年 10 月 29 日 一、监事会会议召开情况 北京华峰测控技术股份有限公司（以下简称"公司"）第三届监事会第七次 会议于 2024 年 10 月 28 日在公司会议室以现场和通讯方式召开。本次会议应到 监事 3 名，实到监事 3 名。会议由监事会主席赵运坤主持。本次会议 ...

Revenue and Profit - Revenue for the third quarter reached RMB 242.13 million, a year-on-year increase of 76.42%[2] - Net profit attributable to shareholders of the listed company for the third quarter was RMB 100.60 million, a year-on-year increase of 181.16%[2] - Total revenue for the first three quarters of 2024 reached 621,198,629.10 RMB, compared to 518,732,953.94 RMB in the same period last year[14] - Net profit for the first three quarters of 2024 was 213,093,657.21 RMB, up from 197,056,041.97 RMB in the same period last year[15] - Operating profit for the first three quarters of 2024 was 228,967,339.25 RMB, compared to 210,622,068.94 RMB in the same period last year[15] - Comprehensive income for the first three quarters of 2024 reached RMB 214,115,901.42, compared to RMB 232,041,402.47 in the same period of 2023[16] R&D and Expenses - R&D investment for the third quarter was RMB 43.86 million, accounting for 18.11% of revenue, a decrease of 6.6 percentage points compared to the same period last year[3] - R&D expenses increased to 120,879,307.89 RMB, up from 99,514,945.61 RMB in the same period last year[15] - Sales expenses increased to 102,493,255.72 RMB, up from 84,699,703.49 RMB in the same period last year[15] - Total operating costs for the first three quarters of 2024 were 385,925,600.42 RMB, compared to 339,002,532.24 RMB in the same period last year[14] Assets and Liabilities - Total assets as of the end of the reporting period were RMB 3.68 billion, an increase of 6.06% compared to the end of the previous year[3] - The company's total equity attributable to shareholders of the listed company was RMB 3.44 billion, an increase of 3.12% compared to the end of the previous year[3] - Total assets increased to 3,677,100,960.02 RMB, up from 3,466,864,543.70 RMB in the previous period[12] - Total liabilities increased to 240,614,865.39 RMB, up from 134,370,580.57 RMB in the previous period[13] - Total equity attributable to the parent company increased to 3,436,486,094.63 RMB, up from 3,332,493,963.13 RMB in the previous period[13] - The company's monetary funds as of September 30, 2024, amounted to RMB 1,933,330,396.29[11] - Accounts receivable increased to RMB 445,634,474.39 as of September 30, 2024, compared to RMB 262,778,697.01 at the end of 2023[11] - Inventory increased to RMB 181,626,668.59 as of September 30, 2024, compared to RMB 141,630,115.69 at the end of 2023[11] - Total current assets as of September 30, 2024, amounted to RMB 2,820,042,319.39[11] - Fixed assets as of September 30, 2024, amounted to RMB 398,586,193.78[11] Cash Flow - Operating cash flow for the period from the beginning of the year to the end of the reporting period was RMB 17.51 million, a year-on-year decrease of 91.97%[2] - The decrease in operating cash flow was mainly due to reduced sales collections compared to the same period last year[6] - Net cash flow from operating activities for the first three quarters of 2024 was RMB 17,510,432.85, significantly lower than RMB 217,976,731.16 in the same period of 2023[18] - Net cash flow from investing activities for the first three quarters of 2024 was RMB 94,082,264.80, a significant improvement from a negative RMB 222,128,664.81 in the same period of 2023[18] - Cash and cash equivalents at the end of the third quarter of 2024 were RMB 995,703,996.28, compared to RMB 902,136,405.97 at the end of the same period in 2023[19] - The company received RMB 21,790,355.27 in tax refunds in the first three quarters of 2024, compared to RMB 32,460,286.52 in the same period of 2023[18] - Cash paid for goods and services in the first three quarters of 2024 was RMB 202,824,833.51, an increase from RMB 166,643,928.27 in the same period of 2023[18] - Cash paid to employees in the first three quarters of 2024 was RMB 196,831,176.31, compared to RMB 164,449,912.66 in the same period of 2023[18] - Cash received from sales of goods and services in the first three quarters of 2024 was RMB 481,700,156.23, a decrease from RMB 631,728,838.80 in the same period of 2023[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 7,282[9] - Tianjin Xinhua Investment Holding Co., Ltd. holds 37,236,420 shares, representing 27.49% of the total shares[9] - China Times Vision Technology Co., Ltd. holds 20,085,225 shares, representing 14.83% of the total shares[9] - Shenzhen Xinrui Venture Capital Partnership holds 6,739,150 shares, representing 4.98% of the total shares[9] - Hong Kong Securities Clearing Company Ltd. holds 6,276,328 shares, representing 4.63% of the total shares[9] Earnings and Returns - Basic earnings per share for the third quarter were RMB 0.84, a year-on-year increase of 223.08%[6] - Weighted average return on equity (ROE) for the third quarter was 2.95%, an increase of 1.86 percentage points compared to the same period last year[3] - Basic and diluted earnings per share for the first three quarters of 2024 were RMB 1.43, compared to RMB 1.46 in the same period of 2023[16] Non-Recurring Items - Non-recurring gains and losses for the third quarter amounted to RMB 4.36 million, primarily due to government subsidies and fair value changes in financial assets[5] - The company's other equity instrument investments had a fair value change of RMB 35,089,001.26 in the first three quarters of 2024[16] - Other comprehensive income after tax for the first three quarters of 2024 was 1,022,244.21 RMB, down from 34,985,360.50 RMB in the same period last year[15]