证券代码：000988 证券简称：华工科技 公告编号：2025-02 华工科技产业股份有限公司 关于董事长提议回购公司股份的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 华工科技产业股份有限公司（以下简称"华工科技"或"公司"）于 2025 年 4 月 8 日收到公司董事长马新强先生出具的《关于提议回购公司部分股份的函》， 现将具体情况公告如下： 一、提议人的基本情况及提议时间 4、回购股份价格的区间：不高于公司董事会审议通过回购方案决议前 30 个 交易日公司股票交易均价的 150%。 5、回购股份的资金总额：不低于人民币 3 亿元（含），不超过人民币 4 亿 元（含），具体以董事会审议通过的回购方案为准。 1、提议人：公司董事长马新强先生 2、提议时间：2025 年 4 月 8 日 二、提议回购股份的原因和目的 提议人马新强先生基于对公司长期价值的认可和对公司未来发展的坚定信 心，并结合公司经营状况、主营业务发展前景、财务状况等因素，提议公司以自 有资金或自筹资金回购部分公司股份，回购的股份将用于实施员工持股计划或 股权激励。 三、提议内容 ...

Investment Rating - The report maintains a "Buy" rating for the company [4][10][7] Core Views - The company is expected to see earnings per share of 1.20, 1.76, and 2.21 yuan for 2024-2026, with a target price of 47.52 yuan based on a 27x PE ratio for comparable companies in 2025 [4][10] - The report highlights the company's ongoing expansion in the optical connection business, with significant growth in product offerings and international capacity [9][10] - The manufacturing business is accelerating its high-end transformation, focusing on sectors like new energy vehicles and semiconductor industries [9] Financial Forecasts - Revenue is projected to grow from 10,208 million yuan in 2023 to 19,516 million yuan in 2026, reflecting a compound annual growth rate (CAGR) of approximately 20.8% [6] - Operating profit is expected to increase from 1,108 million yuan in 2023 to 2,486 million yuan in 2026, with a CAGR of 26.1% [6] - Net profit attributable to the parent company is forecasted to rise from 1,007 million yuan in 2023 to 2,227 million yuan in 2026, indicating a CAGR of 26.2% [6] Business Developments - The company showcased its latest products at the OFC exhibition, including advancements in optical modules and high-speed solutions [9] - The optical connection business is integrating various products and achieving significant testing milestones with major clients [9] - The manufacturing sector is enhancing its capabilities in response to the growing demand in the AI and semiconductor markets [9]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future investment returns [5]. Core Insights - The company is expected to see significant growth in its AI optical module products in both domestic and overseas markets, with a monthly production capacity for 400G modules expanding from 450,000 to 700,000 units [1]. - The company is actively expanding its sensing business, focusing on the new energy sector and its supply chain, aiming to solidify its leading position in temperature sensors for smart home appliances [2]. - The laser and smart manufacturing business is steadily developing, with a focus on intelligent equipment and automation, particularly in the automotive and shipbuilding industries [3]. - The company's net profit forecast for 2024 has been slightly adjusted down to 1.269 billion yuan, while the 2025 forecast remains unchanged, and a new forecast for 2026 is set at 2.102 billion yuan [3]. Summary by Sections Optical Module Business - The company has achieved full coverage of optical module products from 100G to 800G, with increased deliveries expected this year, particularly for 400G and 800G single-mode products [1]. - The company has established a monthly production capacity of approximately 400,000 to 450,000 units for 400G optical modules and is preparing to ramp up production to 700,000 units to meet domestic demand [1]. Sensing Business - The company is building a comprehensive sensor product matrix, focusing on temperature, humidity, pressure, light, dust, turbidity, and gas sensors, particularly in the new energy vehicle sector [2]. - The PTC thermal management business is evolving from component control to system control, aiming to provide integrated solutions for vehicle thermal management [2]. Laser and Smart Manufacturing - The laser and smart manufacturing business is centered around intelligent equipment, automated production lines, and smart factories, with a focus on integrating AI into laser technology [3]. - The company is targeting rapid expansion in the automotive, shipbuilding, and semiconductor industries, leveraging technological innovations [3]. Financial Projections - The company's revenue is projected to grow from 10.208 billion yuan in 2023 to 20.815 billion yuan by 2026, with a compound annual growth rate of approximately 22.28% [4]. - The net profit is expected to increase from 1.007 billion yuan in 2023 to 2.102 billion yuan in 2026, reflecting a strong growth trajectory [4].

Group 1 - The Wuhan East Lake New Technology Development Zone Listed Companies Association held its second council meeting, electing Ma Xinqiang, Chairman of Huagong Technology, as the honorary president [1] - The association aims to support the high-quality development of listed companies and enhance their market value, aligning with the new "National Nine Articles" policy [2][3] - A strategic cooperation agreement was signed between the association and Huatai Securities Hubei Branch to deepen collaboration in serving listed companies [2] Group 2 - The association's secretary reported on the establishment of the party branch and the annual work plan, emphasizing efforts to expand the network of listed companies [2] - The council approved the 2024 annual work report and financial management system, receiving positive feedback from members on the association's achievements [2] - The association plans to focus on member needs, optimize service mechanisms, and enhance service quality to support the high-quality development of listed companies in the region [3]

Investment Rating - The investment rating for the company is "Buy" with a 12-month price target of RMB 56, indicating an upside potential of 37.4% from the current price of RMB 40.76 [11][13]. Core Insights - The company is expected to experience strong revenue growth across all three business segments: optical modules, laser equipment, and new energy vehicle sensors, driven by domestic demand and international expansion [2][6][7]. - The management maintains confidence in the profit growth outlook for 2025, with key drivers including the increasing demand for optical modules and the expansion of laser equipment and sensor businesses [2][4][6]. Summary by Relevant Sections Optical Modules - The company is a major supplier in the domestic market and is expanding its presence with U.S. clients. The demand for optical modules in China is projected to exceed 10 million units in 2025, up from 6-7 million in 2024. The main products will be 400G optical modules, with an increasing share of 800G modules [2][3]. - The gross margin for optical modules is expected to reach 15%-20%, driven by product structure upgrades and increased sales of high-margin products [2][3]. Laser Equipment - The management expects sales growth of over 20% for the laser equipment segment, supported by strong demand from the shipbuilding industry and new orders from smartphone manufacturers anticipated in the second half of 2025 [4][6]. New Energy Vehicle Sensors - This segment is projected to have the highest net profit margin, with growth driven by expansion into overseas automotive clients and the introduction of new sensor products. Despite pricing pressures, the company aims to maintain stable profit margins through product improvements and cost control [7][8]. Financial Projections - Revenue is forecasted to grow from RMB 10.2 billion in 2024 to RMB 18.3 billion in 2025, with net income expected to increase from RMB 1.0 billion to RMB 2.1 billion during the same period [9][11].

Group 1: Company Transformation and Performance - The company completed its transformation from a university-affiliated entity to a state-owned high-tech listed company in March 2021, establishing a new governance structure that aligns the interests of management and core employees with shareholders [7] - The company has met the performance targets set during the transformation period from 2021 to 2023, with a fund transfer of CNY 980 million expected to be completed by December 20, 2025 [7] Group 2: Product Development and Capacity Expansion - The company is currently testing 400G, 800G, and 1.6T products with several leading clients, with 800G LPO products showing clear demand [8] - The monthly production capacity for 400G optical modules is currently between 400,000 to 450,000 units, with plans to expand to 700,000 units [9] - The company has completed the first phase of its next-generation high-speed optical module R&D center, covering an area of 82,500 square meters [9] Group 3: Supply Chain and Technology Advancements - The company has achieved self-sufficiency in high-end optical chips, with the capability to design chips from silicon photonics to modules [11] - The company has launched the latest 200G silicon photonic chip for 1.6T optical modules, and 400G silicon photonic modules are being shipped in bulk to major domestic internet companies [11] Group 4: Future Business Directions - The laser and intelligent manufacturing business is focusing on smart equipment, automated production lines, and intelligent factories, with an emphasis on the automotive and shipbuilding industries [12] - The sensing business aims to solidify its global leadership in temperature sensors for smart appliances and expand into the electric vehicle and energy storage sectors [13] - The company is actively pursuing international business opportunities, particularly in Southeast Asia and Europe, to enhance market presence and growth [14]

证券代码：000988 证券简称：华工科技 公告编号：2024-54 华工科技产业股份有限公司 第九届董事会第八次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 具体内容详见同日在指定媒体披露的《关于调整 2024 年度日常关联交易预 计的公告》（公告编号：2024-55）。 二、审议通过《关于制定〈市值管理制度〉的议案》 表决结果：同意 9 票，反对 0 票，弃权 0 票，回避 0 票。 为加强公司市值管理工作，进一步规范市值管理行为，切实保护公司投资 者特别是中小投资者的合法权益，增强投资者回报，提升公司投资价值，董事 会同意根据相关法律法规和《公司章程》的有关规定，制定《市值管理制 度》。 特此公告 华工科技产业股份有限公司董事会 华工科技产业股份有限公司（以下简称"华工科技"或"公司"）于 2024 年 12 月 25 日以电话及邮件方式向全体董事发出了"关于召开第九届董事会第八次 会议的通知"。本次会议于 2024 年 12 月 30 日以通讯方式召开。会议应出席董 事 9 人，实际收到表决票 9 票。会议的召开符合《公司法》及《公司章 ...

证券代码：000988 证券简称：华工科技 公告编号：2024-55 华工科技产业股份有限公司 关于调整2024年度日常关联交易预计的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 一、日常关联交易基本情况 （一）日常关联交易概述 华工科技产业股份有限公司（以下简称"华工科技"或"公司"）于 2024 年 3 月 26 日召开第八届董事会第三十二次会议，审议通过了《关于 2024 年度日常关联 交易预计的议案》，预计公司 2024 年度可能产生的日常关联交易金额为 25,776 万元，具体公告内容详见公司于 2023 年 3 月 28 日在指定媒体披露的《关于 2024 年度日常关联交易预计的公告》（公告编号：2024-09）。 公司于2024年12月30日召开第九届董事会第八次会议，审议通过了《关于调 整2024年度日常关联交易预计的议案》，由于公司与关联方之间业务活动的需要， 同意对2024年3月审议的公司2024年度日常关联交易预计额度进行进一步调整，由 预计的25,776万元调整减少984万元，调整为24,792万元。 公司关联董事熊文先生对该议 ...

Group 1: Investor Relations Activities - The company conducted investor relations activities including site visits and conference calls with various funds and asset management companies [1][8][15][21]. Group 2: Product Development and Market Demand - The company has achieved self-controlled high-end optical chips and has full self-research design capabilities for silicon optical chips, launching the latest 200G self-researched silicon optical chip for 1.6T optical modules [10]. - The company plans to expand its monthly production capacity for 400G optical modules from approximately 450,000 to 700,000 units to meet domestic market demand [18]. - The company expects significant growth in the domestic market for data communication optical modules, with a full range of products from 100G to 800G being covered [16]. Group 3: International Expansion and Production Capacity - The overseas factory has reached production conditions, with a planned monthly capacity of 100,000 units for 800G and 1.6T products, which may increase to 200,000 units based on customer demand [12]. - The company’s overseas revenue in the sensing business has grown nearly 30% in the first three quarters, with the Thailand factory officially starting production in August [25]. Group 4: New Business Directions - The company is actively expanding its sensing business around the new energy sector and its upstream and downstream supply chains, aiming to solidify its leading position in temperature sensors for smart home appliances [13]. - The laser and intelligent manufacturing business is developing steadily, focusing on "equipment intelligence, production line automation, and factory wisdom" [19].

未来，联合实验室将建设成为全国一流的半导体激光装备研发平台，可全方位提升国产半导体激光装备 的性能与竞争力，推动武汉激光产业升级换代，助力搭建完整的武汉市半导体产业链。 联合实验室是武汉市首批10家联合实验室之一，以半导体关键制程激光装备落地应用为目标，着力攻克 产业重大关键核心技术，开发出半导体晶圆激光加工、检测装备等产业链关键制程激光装备，并实现批 量应用。 证券时报e公司讯，12月24日，华工科技半导体激光装备产业创新联合实验室启动仪式在华工激光举 行。 ...