深圳市道通科技股份有限公司 2024 年年度股东大会会议资料 二〇二五年四月 | 目录 | | --- | | 一、2024 | 年年度股东大会会议须知 | | 1 | | --- | --- | --- | --- | | 二、2024 | 年年度股东大会会议议程 | | 3 | | 三、议案 | 1：关于《2024 | 年度董事会工作报告》的议案 | 5 | | 四、议案 | 2：关于《2024 | 年度监事会工作报告》的议案 | 17 | | 五、议案 | 3：关于《2024 | 年度财务决算报告》的议案 | 20 | | 六、议案 | 4：关于 2024 | 年度利润分配及资本公积转增股本方案的议案 | 24 | | 七、议案 | 5：关于《2024 | 年年度报告》及其摘要的议案 | 27 | | 八、议案 | | 6：关于授权管理层向金融机构申请综合授信的议案 | 28 | | 九、议案 | | 7：关于授权公司管理层开展外汇衍生品交易的议案 | 29 | | 十、议案 | 8：关于 2025 | 年度对外担保额度预计的议案 | 32 | | 十一、议案 | | 9：关于续聘会计师事务所的议案 | ...

● 回购股份金额：不低于人民币 1 亿元（含），不超过人民币 2 亿元（含）。 ● 回购股份资金来源：深圳市道通科技股份有限公司（以下简称"公司"）自有资 金。 ● 回购股份用途：本次回购的股份拟用于维护公司价值及股东权益，本次回购的 股份将在披露回购结果暨股份变动公告12个月后根据相关规则通过集中竞价交易 方式出售；并在披露回购结果暨股份变动公告后三年内完成出售，若公司未能在 上述期限内完成出售，未实施出售部分股份将履行相关程序予以注销。如国家对 相关政策作调整，则本回购方案按调整后的政策实行。 ● 回购股份价格：不超过人民币 63.83 元/股（含），该价格不高于董事会通过回购 股份决议前 30 个交易日公司股票交易均价的 150%。 ● 相关股东是否存在减持计划：公司董监高、控股股东、实际控制人、持股 5%以 上股东在未来 3 个月、未来 6 个月暂无减持公司股票的计划。若以上主体在上述 期间内实施股份减持计划，公司将严格按照相关规定及时履行信息披露义务。 | 证券代码：688208 | 证券简称：道通科技 公告编号：2025-028 | | --- | --- | | 转债代码：118013 | 转债 ...

| 股票代码：688208 | 股票简称：道通科技 公告编号：2025-026 | | --- | --- | | 转债代码：118013 | 转债简称：道通转债 | 深圳市道通科技股份有限公司 关于公司控股股东、实际控制人、董事长兼总经理 提议回购公司股份的公告 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。 深圳市道通科技股份有限公司（以下简称"公司"）董事会于2025年4月8 日收到公司控股股东、实际控制人、董事长兼总经理李红京先生《关于提议深圳 市道通科技股份有限公司回购公司股份的函》。李红京先生向公司董事会提议通 过上海证券交易所交易系统以集中竞价交易方式回购公司部分股份，用于维护公 司价值及股东权益，回购股份的资金来源为公司自有资金。具体内容如下： 一、提议人的基本情况及提议时间 1、提议人：公司控股股东、实际控制人、董事长兼总经理李红京先生 2、提议时间：2025年4月8日 二、提议人提议回购股份的原因和目的 鉴于公司连续20个交易日内公司股票收盘价格跌幅累计达到20%，基于对 行业前景和公司未来发展的信心， ...

| 股票代码：688208 | 股票简称：道通科技 公告编号：2025-027 | | --- | --- | | 转债代码：118013 | 转债简称：道通转债 | 深圳市道通科技股份有限公司 第四届董事会第十九次会议决议公告 1、《关于以集中竞价交易方式回购公司股份方案的议案》 表决情况：同意 7 票，弃权 0 票，反对 0 票。 具体内容详见同日于上海证券交易所网站（www.sse.com.cn）披露的《关 于以集中竞价交易方式回购公司股份方案的公告》（公告编号：2025-028）。 特此公告。 深圳市道通科技股份有限公司董事会 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、董事会会议召开情况 深圳市道通科技股份有限公司（以下简称"公司"）第四届董事会第十九次 会议于 2025 年 4 月 8 日在公司会议室以现场结合通讯方式召开，会议通知于 2025 年 4 月 8 日以邮件、电话或其他通讯方式送达至公司全体董事。全体董事 一致同意豁免本次会议的通知时限。召集人在董事会会议上就豁免本次会议通知 时限的相关情况 ...

Investment Rating - The report maintains a "Strong Buy" investment rating for the company [3][7]. Core Views - The company has established a multi-dimensional response mechanism to mitigate the impact of the "reciprocal tariffs," resulting in limited actual effects on its business and performance [7]. - The company is expected to achieve rapid global growth, with strong performance in various markets outside the U.S., and is projected to reduce its reliance on the U.S. market over time [7]. - The company anticipates a significant increase in net profit for Q1 2025, with estimates ranging from 180 to 200 million yuan, representing a year-on-year growth of 44.29% to 60.32% [7]. Financial Data and Valuation - Total revenue is projected to grow from 3,251 million yuan in 2023 to 6,957 million yuan in 2027, with a compound annual growth rate (CAGR) of 18% [8][14]. - The net profit is expected to increase from 179 million yuan in 2023 to 1,099 million yuan in 2027, with a CAGR of 17% [8][14]. - The company’s return on equity (ROE) is projected to rise from 5.7% in 2023 to 21.7% in 2027 [15]. - The price-to-earnings (PE) ratio is expected to decrease from 76.8 in 2023 to 12.5 in 2027, indicating improved valuation over time [15].

Investment Rating - The report maintains a "Buy" rating for the company, considering its growth potential and industry outlook [4]. Core Insights - The company achieved significant revenue growth in 2024, with total revenue reaching 3.932 billion yuan, a year-on-year increase of 20.95%. The net profit attributable to shareholders was 641 million yuan, up 257.59% year-on-year [2][4]. - The digital repair business generated 3.018 billion yuan in revenue, a 13.93% increase, while the smart energy business saw revenue of 867 million yuan, growing by 52.98% [2][4]. - The company is expanding into AI and robotics, launching integrated solutions that enhance operational efficiency and promote digital transformation across industries [2]. Financial Performance - The company forecasts revenues of 4.751 billion yuan, 5.644 billion yuan, and 6.584 billion yuan for 2025, 2026, and 2027, respectively, with net profits projected at 769 million yuan, 926 million yuan, and 1.091 billion yuan [4][7]. - The earnings per share (EPS) are expected to be 1.70 yuan, 2.05 yuan, and 2.42 yuan for the years 2025, 2026, and 2027, with corresponding price-to-earnings (P/E) ratios of 17.90, 14.87, and 12.62 [4][7]. Strategic Initiatives - The company is proactively addressing tariff risks by relocating some production to the U.S. and Mexico, aiming to mitigate the impact of potential tariffs on its products [3]. - The establishment of a comprehensive market service system across Europe, Asia-Pacific, the Middle East, and South America is part of the company's strategy to reduce reliance on the U.S. market [3].

[Table_Main] 公司研究|信息技术|技术硬件与设备 证券研究报告 道通科技(688208)公司点评报告 2025 年 04 月 08 日 [Table_Title] 利润实现高速增长， "对等关税"影响有限 ——道通科技(688208.SH)2024 年年度报告点评 [Table_Summary] 事件： 公司于 2025 年 3 月 28 日收盘后发布《2024 年年度报告》。 点评： 业绩实现高速增长，数智能源业务发展迅速 2024 年，公司实现营业收入 39.32 亿元，同比增长 20.95%；实现归母净 利润 6.41 亿元，同比增长 257.59%；实现扣非归母净利润 5.41 亿元，同 比增长 47.42%。分业务来看，数字维修业务实现营业收入 30.18 亿元，同 比增长 13.93%，其中，汽车综合诊断产品实现收入 12.67 亿元；TPMS 系 列产品实现收入 7.06 亿元，同比增长 32.55%；ADAS 标定产品实现收入 3.90 亿元，同比增长 26.98%；软件升级服务实现收入 4.46 亿元，同比增 长 24.20%。在数智能源业务领域，公司打造了端到端智能充电网络解决 ...

证券研究报告 | 2025年04月07日 道通科技（688208.SH） 多元组合应对策略， "对等关税"影响有限 |  公司研究·公司快评 | |  | 计算机·计算机设备 |  | 投资评级：优于大市（维持） | | --- | --- | --- | --- | --- | --- | | 证券分析师： | 熊莉 | 021-61761067 | | xiongli1@guosen.com.cn | 执证编码：S0980519030002 | | 联系人： | 云梦泽 | 021-60933155 | | yunmengze@guosen.com.cn | | 事项： 北京时间 4 月 3 日凌晨，特朗普宣布新的关税政策，将从 4 月 9 日起对实施所谓"不公平"贸易行为的国 家实施更高的"对等"关税，其中对中国加征 34%的关税，对日本加征 24%，对越南加征 46%等。此外，特 朗普将对全球 185 个国家征收 10%的"普适性"关税。根据最新的关税政策，公司越南工厂的产品销往美 国可能将面临 46%的关税风险。 国信计算机观点：1）公司在多元组合策略下，美国、墨西哥工厂有望助力公司在此次"对 ...

Core Viewpoint - The article discusses how domestic manufacturing companies are proactively addressing the uncertainties brought by the U.S. "reciprocal tariffs" through strategic global expansion and supply chain adjustments [1][2]. Group 1: Company Responses to Tariff Changes - Companies in the electronics supply chain, such as Luxshare Precision (立讯精密) and Lens Technology (蓝思科技), have stated that the impact of the new tariffs is limited, as the burden of tariffs is typically borne by the importers rather than the exporters [2][3]. - Luxshare Precision has diversified its customer base and established production bases in various countries, including Vietnam, Indonesia, and Mexico, to mitigate risks associated with market fluctuations and geopolitical uncertainties [4][5]. - Lens Technology has built a robust global supply chain with nine R&D and production bases worldwide, allowing it to effectively manage tariff risks through strategic global business expansion [4][5]. Group 2: Strategies for Mitigating Tariff Impact - Daotong Technology (道通科技) has implemented a multi-faceted response mechanism, including increasing safety stock in the U.S. and establishing a local factory in North Carolina to produce products that meet U.S. subsidy standards [6]. - The company is also considering relocating some production processes to its U.S. facility to further reduce tariff impacts [6]. - Companies are increasingly shifting production to low-tariff regions like Mexico, which benefits from zero-tariff agreements under the USMCA, thereby minimizing tariff-related risks [7][8]. Group 3: Globalization and Market Expansion - Many manufacturing companies are adopting a globalized approach to counteract tariff impacts, with a consensus on the importance of global supply chain coordination [7]. - Companies are exploring new markets, including CPTPP and ASEAN, to diversify their export destinations and reduce reliance on any single market [7][8]. - Huakin Technology (华勤技术) has established a dual supply system with core domestic bases and overseas VMI bases, allowing for dynamic balance in production to meet U.S. delivery demands [8].

Investment Rating - The investment rating for the company is "Buy" [6] Core Views - The impact of the "reciprocal tariffs" on the company is relatively limited due to sufficient inventory in the U.S. and the commencement of local production in late 2023 [2][5] - The company is actively establishing new factories in low-tariff regions and adjusting product prices to mitigate potential tariff risks [3][5] - The revenue share from the U.S. market is expected to gradually decline as the company expands its presence in other regions [4][5] Summary by Sections Short-term Impact - The company has sufficient inventory in the U.S. to meet sales demands for the next 6-9 months and is confident in achieving its annual business goals in the U.S. [2] - Local production facilities in the U.S. are operational, allowing the company to leverage capacity advantages and potentially shift certain high-automation products to local manufacturing [2] Long-term Strategy - The company is enhancing its global supply chain by establishing manufacturing in low-tariff countries such as Mexico, which will help minimize tariff risks [3] - The company plans to adjust product prices in response to market conditions, with strong demand from U.S. customers willing to share the burden of additional tariff costs [3] Financial Forecast - Projected revenues for 2025, 2026, and 2027 are expected to be 48.33 billion, 60.52 billion, and 76.83 billion respectively, with net profits of 8.05 billion, 11.19 billion, and 13.98 billion [5][11] - The company anticipates a significant growth rate in its energy business and is actively pursuing AI and robotics as a new growth avenue [5]