4、本持续督导期间，保荐人根据相关法规和规范性文件的要求履行持续督 导职责，具体内容包括： （1）查阅公司章程、三会议事规则等公司治理制度、三会会议材料； 中信证券股份有限公司 关于上海艾为电子技术股份有限公司 2024 年度持续督导跟踪报告 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为上海艾 为电子技术股份有限公司（以下简称"艾为电子"、"公司"或"上市公司"） 首次公开发行股票并在科创板上市的保荐人，根据《证券发行上市保荐业务管理 办法》、《上海证券交易所科创板股票上市规则》等相关规定，中信证券履行持 续督导职责，并出具本持续督导年度跟踪报告。 一、持续督导工作概述 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场 检查的工作要求。 2、保荐人已与公司签订保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 3、本持续督导期间，保荐人通过与公司的日常沟通、现场回访等方式开展 持续督导工作，并于 2025 年 4 月 1 日、4 月 18 日对公司进行了现场检查。 （2）查阅公司财务管理、会计核算和内部审计等内部控制制度，查阅公司 2024 年度 ...

上海艾为电子技术股份有限公司 2024 年年度股东大会会议资料 证券代码：688798 证券简称：艾为电子 上海艾为电子技术股份有限公司 Shanghai Awinic Technology Co., Ltd. 2024 年年度股东大会会议资料 二〇二五年四月 1 上海艾为电子技术股份有限公司 2024 年年度股东大会会议资料 目录 | 上海艾为电子技术股份有限公司 2024 | | 年年度股东大会会议议程 | 5 | | --- | --- | --- | --- | | 议案一：关于《2024 | | 年度董事会工作报告》的议案 7 | | | 议案二：关于《2024 | | 年度监事会工作报告》的议案 8 | | | 议案三: 关于《2024 年年度报告》及摘要的议案 | | 9 | | | 议案四：关于《2024 年度财务决算报告》的议案 | | 10 | | | 议案五：关于《2025 年度财务预算报告》的议案 | | 11 | | | 议案六: 关于公司董事 2025 | | 年度薪酬方案的议案 | 12 | | 议案七: 关于公司监事 2025 | | 年度薪酬方案的议案 | 13 | | 议案 ...

Core Viewpoint - Aiwai Electronics (688798) has experienced significant profit growth, driven by a recovering consumer electronics market and the acceleration of domestic substitution due to U.S. tariffs, with a focus on expanding into industrial and automotive sectors while strengthening overseas markets [1][2]. Financial Performance - The company reported a revenue of 2.933 billion yuan, an increase of 15.88% year-on-year, and a net profit attributable to shareholders of 255 million yuan, representing a nearly fourfold increase [1]. - Aiwai Electronics achieved a historical high in overall sales, exceeding 6 billion units last year, with over 1,400 product models in various applications [1]. Product and Market Strategy - The company has established a comprehensive audio ecosystem combining hardware, algorithms, and services, with applications in consumer electronics, industrial interconnectivity, and automotive sectors [2]. - Aiwai Electronics is actively expanding its international market presence, with overseas revenue surpassing domestic revenue, growing nearly 17% year-on-year, and an increase in gross margin by 7.9 percentage points [2]. Future Outlook - The management anticipates that emerging technologies such as generative AI, autonomous driving, humanoid robots, and energy storage will significantly boost demand in the semiconductor industry, presenting new opportunities for the company [2]. - The company plans to enhance its product offerings in high-performance mixed-signal, power management, and signal chain categories, aiming to diversify its product and market applications [1][2]. Operational Efficiency - The company has improved its inventory turnover days to 132 days, a reduction of 32 days year-on-year, marking the best performance in recent years [3].

Core Viewpoint - The consumer electronics market is experiencing a sustained recovery, and AI technology is expected to drive new application demands, particularly in AI smartphones and AI PCs, as well as various AI edge applications [1] Group 1: Market Trends - The consumer electronics market is currently showing signs of recovery [1] - The demand for semiconductors is anticipated to increase due to the rapid development of new technologies and markets such as generative AI, autonomous driving, humanoid robots, and energy storage [1] Group 2: Company Opportunities - The growth in AI applications is expected to create new opportunities and revenue streams for the company [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Views - The company reported a revenue of 2.933 billion yuan for 2024, representing a year-on-year growth of 15.88%, and a net profit attributable to shareholders of 255 million yuan, which is a significant increase of 399.68% year-on-year [4][5] - The company is actively expanding into consumer electronics, industrial interconnect, and automotive markets, significantly enhancing its profitability through timely technological and product innovations [5] - The company has launched over 1,400 products across 42 categories, achieving an annual shipment of over 6 billion units by the end of 2024 [5] Financial Performance - The company achieved a gross margin of 30.43% in 2024, an increase of 5.58 percentage points year-on-year [5] - The projected revenues for 2025, 2026, and 2027 are 3.542 billion yuan, 4.269 billion yuan, and 5.124 billion yuan respectively, with corresponding net profits of 405 million yuan, 578 million yuan, and 787 million yuan [10][12] - The earnings per share (EPS) are expected to grow from 1.10 yuan in 2024 to 3.38 yuan in 2027 [12] Product Innovation - The company has made significant advancements in high-performance mixed-signal chips, including audio amplifiers, haptic products, and camera driver chips, achieving mass production and certification for automotive applications [6][8] - The power management chip segment has seen the introduction of various products, including high PSRR LDOs and DCDC converters, with successful penetration into the automotive sector [7] - The signal chain chip category has expanded with new offerings in operational amplifiers and comparators, targeting industrial applications [8][9]

Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Insights - The company reported a revenue of 2.933 billion yuan for 2024, representing a year-on-year growth of 15.88%, and a net profit attributable to shareholders of 255 million yuan, which is a significant increase of 399.68% year-on-year [4][5] - The company is actively expanding into consumer electronics, industrial interconnect, and automotive markets, leading to a notable improvement in profitability [5] - The company has launched over 1,400 products across 42 categories, with an annual shipment volume exceeding 6 billion units by the end of 2024 [5] Financial Performance - The company achieved a comprehensive gross margin of 30.43% in 2024, an increase of 5.58 percentage points year-on-year [5] - The projected revenues for 2025, 2026, and 2027 are 3.542 billion yuan, 4.269 billion yuan, and 5.124 billion yuan respectively, with corresponding net profits of 405 million yuan, 578 million yuan, and 787 million yuan [10][12] - The earnings per share (EPS) are expected to grow from 1.10 yuan in 2024 to 3.38 yuan by 2027 [12] Product Innovation - The company has made significant advancements in high-performance mixed-signal chips, including audio amplifiers and power management chips, which have been successfully mass-produced and certified [6][7][8] - The company has introduced various power management chips and has achieved breakthroughs in automotive applications, enhancing power supply efficiency for vehicle communication systems [7][9] Market Outlook - The company is expected to maintain a strong growth trajectory, with revenue growth rates projected at 20.77% for 2025, 20.53% for 2026, and 20.02% for 2027 [12] - The company is well-positioned to capitalize on emerging trends in the electronics industry, particularly in the automotive and industrial sectors [5][10]

Core Insights - Aiwai Electronics has released its 2024 Sustainable Development Report, marking a significant step in ESG disclosure for domestic analog chip design companies [1] - The company has achieved a 35% increase in development efficiency through domestic equipment development and standardized testing protocols [1] - Aiwai Electronics has obtained 117 new patents in 2024, bringing its total to 649, and is the first in Shanghai's integrated circuit industry to receive ISO56005 certification [1] Group 1: ESG and Sustainability Efforts - The company emphasizes sustainable supply chain management, requiring 100% of key wafer packaging suppliers to have ISO14001 certification [1] - Aiwai Electronics is implementing measures to reduce environmental impact through green office spaces and optimizing supply chain logistics [1] - The company is committed to low-carbon transformation in collaboration with its supply chain partners [1] Group 2: Financial Performance - For the fiscal year 2024, Aiwai Electronics reported a net profit of 255 million yuan, a 399.68% increase year-on-year [2] - The company achieved a turnaround with a non-recurring net profit of 156 million yuan, compared to losses in the previous year [2] Group 3: Industry Trends and Regulatory Environment - The A-share market is witnessing a significant increase in ESG disclosure coverage and quality, driven by regulatory requirements from stock exchanges [2] - The China Securities Regulatory Commission has revised disclosure regulations, mandating listed companies to publish sustainable development reports starting July 1 [2] - Aiwai Electronics aims to enhance its ESG management in response to these regulatory changes [2]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a revenue of 2.93 billion yuan for 2024, representing a year-on-year growth of 15.9%, and a net profit attributable to shareholders of 255 million yuan, a significant increase of 399.7% year-on-year [4][5] - The company is experiencing a decline in quarterly performance, with Q4 2024 revenue at 570 million yuan, down 24.2% year-on-year and 27.8% quarter-on-quarter, attributed to the exit from low-margin products and customer inventory adjustments [5][6] - The gross margin for 2024 improved to 30.4%, up 5.6 percentage points year-on-year, with Q4 2024 gross margin at 33.5%, marking five consecutive quarters of growth [6] - The company is expanding its market presence in consumer electronics, industrial interconnect, and automotive electronics, with a 17% increase in customer numbers and a 45% growth in new markets [6] Financial Summary - For 2024, the company achieved a revenue of 2.93 billion yuan, with a projected revenue growth of 26.6% for 2025 [9] - The net profit attributable to shareholders is expected to reach 400 million yuan in 2025, reflecting a year-on-year growth of 57% [9] - The projected EPS for 2025 is 1.72 yuan per share, with a P/E ratio of 36.6 [7][9] - The company anticipates continued improvement in gross margin, reaching 33.2% in 2025 [9]

艾为电子（ [Table_StockNameRptType] 688798） 公司点评 坚持长远发展，全面突破拥抱 AI | 投资评级：买入（维持） [Table_Rank] | | --- | | 报告日期： 2025-04-11 | | [Table_BaseData] 收盘价（元） | 62.97 | | --- | --- | | 近 12 个月最高/最低（元） | 86.21/38.94 | | 总股本（百万股） | 233 | | 流通股本（百万股） | 135 | | 流通股比例（%） | 58.14 | | 总市值（亿元） | 147 | | 流通市值（亿元） | 85 | [公司价格与沪深 Table_Chart] 300 走势比较 -33% -7% 19% 45% 71% 4/24 7/24 10/24 1/25 4/25 艾为电子 沪深300 [Table_Author] 分析师：陈耀波 执业证书号：S0010523060001 邮箱：chenyaobo@hazq.com 分析师：刘志来 执业证书号：S0010523120005 邮箱：liuzhilai@hazq.com [Table_ ...

中信证券股份有限公司 关于上海艾为电子技术股份有限公司 2024 年度募集资金存放与使用情况的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为上海艾 为电子技术股份有限公司（以下简称"艾为电子"、"公司"）首次公开发行股票 并在科创板上市的保荐人，根据《证券发行上市保荐业务管理办法》《上海证券 交易所科创板股票上市规则》《科创板上市公司持续监管办法（试行）》及《上 市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》等法律 法规的有关规定，对艾为电子 2024 年度募集资金存放与使用情况进行了专项核 查，并出具本核查意见。核查情况如下： 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 经中国证券监督管理委员会《关于同意上海艾为电子技术股份有限公司首 次公开发行股票注册的批复》（证监许可 2021[1953]号）核准，公司采用公开 方式发行人民币普通股（A 股）41,800,000 股，发行价格为每股 76.58 元，募集 资金总额为人民币 3,201,044,000.00 元，扣除承销保荐费等发行费用（不含税） 人民币 165,782,585.36 元后，实际募 ...