| 日期 | 2025/4/30 | | --- | --- | | 当前股价(元) | 20.92 | | 一年最高最低(元) | 29.20/17.27 | | 总市值(亿元) | 146.53 | | 流通市值(亿元) | 50.13 | | 总股本(亿股) | 7.00 | | 流通股本(亿股) | 2.40 | | 近 3 个月换手率(%) | 114.85 | 信 息 更 新 报 告 电子/光学光电子 康冠科技（001308.SZ） 主业稳健+创新业务高增致 Q1 业绩拐点，关注自有 2025 年 05 月 01 日 品牌全球化弹性 投资评级：买入（维持） ——公司信息更新报告 股价走势图 -40% -30% -20% -10% 0% 10% 20% 2024-05 2024-09 2025-01 康冠科技 沪深300 数据来源：聚源 相关研究报告 《利润短期承压，年末订单大幅增长 蓄力 2025 年高增—公司信息更新报 告》-2025.3.31 《收入延续亮眼增长，提价节奏变化 利润端仍承压—公司信息更新报告》 -2024.10.30 《下游高景气出货量快增，成本转嫁 滞后利润短期承压—公司信息 ...

电子/光学光电子 品牌全球化弹性 投资评级：买入（维持） ——公司信息更新报告 | 日期 | 2025/4/30 | | --- | --- | | 当前股价(元) | 20.92 | | 一年最高最低(元) | 29.20/17.27 | | 总市值(亿元) | 146.53 | | 流通市值(亿元) | 50.13 | | 总股本(亿股) | 7.00 | | 流通股本(亿股) | 2.40 | | 近 3 个月换手率(%) | 114.85 | 信 息 更 新 报 告 股价走势图 -40% -30% -20% -10% 0% 10% 20% 2024-05 2024-09 2025-01 康冠科技 沪深300 数据来源：聚源 相关研究报告 康冠科技（001308.SZ） 主业稳健+创新业务高增致 Q1 业绩拐点，关注自有 2025 年 05 月 01 日 《利润短期承压，年末订单大幅增长 蓄力 2025 年高增—公司信息更新报 告》-2025.3.31 《收入延续亮眼增长，提价节奏变化 利润端仍承压—公司信息更新报告》 -2024.10.30 《下游高景气出货量快增，成本转嫁 滞后利润短期承压—公司信息 ...

Group 1: Financial Performance - In Q1 2025, the company achieved a revenue of 2.15 billion yuan, a year-on-year increase of 10.82% [2] - The net profit attributable to shareholders was 2.15 billion yuan, up 15.81% compared to the same period last year [2] - The net profit after deducting non-recurring items reached 1.78 billion yuan, reflecting a growth of 31.75% year-on-year [2] Group 2: Product Performance - Revenue from smart interactive display products grew by 10.03%, with a shipment increase of 16.50% [2] - Innovative display products (including three proprietary brands) saw a revenue increase of 50.42% and a shipment growth of 63.56% [2] - Smart TV revenue increased by 5.88%, with shipments rising by 30.98% [2] Group 3: Brand Expansion Strategy - The company is expanding its brand overseas through both online and offline strategies, including building independent brand websites and participating in international exhibitions [2][3] - The company aims to enhance its global influence and market share by increasing R&D investment and launching new smart display products [3] Group 4: Global Market Presence - The company serves clients in over 100 countries, primarily in "Belt and Road" regions, and has established multiple technical support and service centers globally [4] - The company has built wholly-owned subsidiaries and overseas cooperative factories to better respond to market changes and customer needs [4] Group 5: Sub-brand Globalization Progress - The brands "KTC," "Horion," and "FPD" are actively expanding into overseas markets, participating in various international exhibitions [5] - KTC's products are available on platforms like Amazon and Temu, covering North America and Europe, while FPD's smart TVs have performed well in Japan and the U.S. [5] Group 6: AI Product Development - The KTC brand launched AI interactive glasses in November 2024, with further details expected in future announcements [6]

Investment Rating - The investment rating for the company is "Buy" [9] Core Views - The company's television ODM and smart interactive performance continue to show steady growth, with optimism regarding the growth potential from AI-enabled innovations and the expansion of its own brand overseas [5] - Revenue and profit forecasts for 2025-2027 are projected at 17.6 billion, 19.9 billion, and 22.0 billion yuan respectively, with year-on-year growth rates of +13%, +13%, and +11% [5] - The expected net profit attributable to the parent company for the same period is 1.0 billion, 1.2 billion, and 1.4 billion yuan, with year-on-year growth rates of +17%, +19%, and +17% [5] Revenue Analysis - In Q1, the company reported revenue of 3.142 billion yuan, a year-on-year increase of 10.8%, and a net profit attributable to the parent company of 215 million yuan, up 15.8% year-on-year [9] - The smart TV segment saw a revenue increase of 6% year-on-year, with volume and price changes of +31% and -19% respectively, attributed to a strategy of gaining market share through price adjustments [9] - The smart interactive segment experienced a 10% year-on-year revenue increase, driven by a recovery in demand, particularly in professional displays and gaming screens [9] - Innovative products achieved a remarkable 50% year-on-year revenue growth, with significant contributions from the company's own brands [9] Profitability Analysis - The gross margin for Q1 was 13.4%, reflecting a 0.4 percentage point increase year-on-year, primarily due to improved product mix and stable panel prices [9] - The net profit margin for Q1 improved by 0.3 percentage points year-on-year, with a notable decrease in various expense ratios, except for brand-building investments [9] - The company expects to maintain a positive trend in profitability, with net profit margins projected to improve gradually over the forecast period [10]

Core Viewpoint - 康冠科技 reported strong financial performance for Q1 2025, with significant year-on-year growth in revenue and net profit [1] Financial Performance - The company achieved a revenue of 3.142 billion yuan, representing a 10.82% increase compared to the same period last year [1] - Net profit attributable to shareholders was 215 million yuan, up 15.81% year-on-year [1] - The net profit after deducting non-recurring items was 178 million yuan, reflecting a 31.75% increase from the previous year [1] Business Segments - Revenue from smart interactive display products grew by 10.03%, with shipment volume increasing by 16.50% [1] - Revenue from innovative display products, including three proprietary brands, surged by 50.42%, with shipment volume rising by 63.56% [1] - Smart TV revenue increased by 5.88%, and shipment volume grew by 30.98% [1] Product Matrix and AI Integration - 康冠科技 has developed a diversified product matrix empowered by AI technology, covering key scenarios such as "AI + Office," "AI + Education," "AI + Healthcare," and "AI + Entertainment" [2] - The "AI + Office" initiative enhances user experience and productivity through smart features in interactive panels [2] - The "AI + Education" initiative aids teachers in classroom management and personalized teaching assistance [2] - The "AI + Healthcare" initiative utilizes smart diagnostics to assist doctors in quickly identifying symptoms [2] - The "AI + Entertainment" initiative offers integrated beauty experiences through AI makeup simulation and voice control [2] Brand Strategy - 康冠科技's three proprietary brands—"KTC," "Horion," and "FPD"—reflect its brand strategy in the innovative display product sector [3] - The KTC brand focuses on high-quality gaming monitors and innovative display products, aiming to enhance user experience through a multi-layered user ecosystem [3] - KTC has seen stable growth in online sales and exposure in overseas markets, while also engaging in offline activities to expand market presence [3] - The brand continues to pursue technological innovation and collaboration with global partners to provide high-quality smart hardware products and services [3]

证券代码：001308 证券简称：康冠科技 公告编号：2025-039 深圳市康冠科技股份有限公司 关于召开 2024 年年度股东大会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 根据《中华人民共和国公司法》《深圳证券交易所股票上市规则》和《深 圳市康冠科技股份有限公司章程》（以下简称《公司章程》）等有关规定，深 圳市康冠科技股份有限公司（以下简称"公司"）第二届董事会第二十七次会 议决定于 2025 年 5 月 20 日（星期二）召开 2024 年年度股东大会，现将会议有 关事项通知如下： 一、召开会议基本情况 1、股东大会届次：2024 年年度股东大会 2、股东大会的召集人：公司董事会 3、会议召开的合法、合规性：2025 年 4 月 28 日公司召开了第二届董事会 第二十七次会议，审议通过了《关于提请召开 2024 年年度股东大会的议案》。 本次股东大会的召集程序符合有关法律、行政法规、部门规章、规范性文件及 《公司章程》的规定。 4、会议召开日期、时间： （1）现场会议开始时间：2025 年 5 月 20 日（星期二）下午 3:00 （2）网 ...

证券代码：001308 证券简称：康冠科技 公告编号：2025-037 深圳市康冠科技股份有限公司 第二届监事会第二十六次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 深圳市康冠科技股份有限公司（以下简称"公司"）第二届监事会第二十六 次会议于 2025 年 4 月 28 日上午 11:00 以现场及通讯方式在公司会议室召开。公 司于 2025 年 4 月 25 日以邮件形式发出本次监事会会议通知。本次会议由监事会 主席陈文福先生主持，会议应出席监事 3 人，实际出席会议监事 3 人，其中监事 郑谋以通讯方式参加本次会议。公司董事会秘书孙建华先生列席了会议。本次会 议的召集、召开和表决程序符合国家有关法律、法规及《公司章程》的规定，会 议形成的决议合法有效。 二、监事会会议审议情况 经与会监事认真审议，以记名投票表决方式通过以下决议： 1、审议通过《关于 2025 年第一季度报告的议案》。 监事会认为：董事会编制和审核《2025 年第一季度报告》的程序符合法律、 法规、中国证监会和深圳证券交易所的相关规定，报告内容真实、 ...

证券代码：001308 证券简称：康冠科技 公告编号：2025-036 深圳市康冠科技股份有限公司 第二届董事会第二十七次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 深圳市康冠科技股份有限公司（以下简称"公司"）第二届董事会第二十七次 会议于2025年4月28日上午10:00以现场及通讯相结合的方式在公司会议室召开， 其中公司独立董事邓燏、黄绍彬、杨健君以通讯方式参加本次会议。公司于 2025 年4月25日以邮件形式发出本次董事会会议通知。本次会议由董事长凌斌先生主持， 会议应出席董事 7 人，实际出席董事 7 人。公司全体董事出席了会议，全体监事及 高级管理人员列席了会议。本次会议的召集、召开和表决程序符合国家有关法律、 法规及《公司章程》的规定，会议形成的决议合法有效。 二、董事会会议审议情况 本次会议以记名方式投票表决，会议就以下事项决议如下： 1、审议通过《关于 2025 年第一季度报告的议案》。 表决结果：7 票赞成、0 票反对、0 票弃权。 公司董事会审计委员会审议通过了本议案。 具体内容详见公司同日在巨潮 ...

华林证券股份有限公司 关于深圳市康冠科技股份有限公司 使用部分闲置募集资金暂时补充流动资金的核查意见 华林证券股份有限公司（以下简称"华林证券"或"保荐机构"）作为深圳 市康冠科技股份有限公司（以下简称"康冠科技"或"公司"）首次公开发行股 票并上市的保荐机构，根据《深圳证券交易所上市公司自律监管指引第 1 号—— 主板上市公司规范运作》、《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、规章、规范性文件的规定，对康冠科技使 用部分闲置募集资金暂时补充流动资金的事项进行了核查，核查情况及核查意见 如下： 一、募集资金基本情况 经中国证券监督管理委员会于 2022 年 2 月 22 日印发《关于核准深圳市康冠 科技股份有限公司首次公开发行股票的批复》（证监许可[2022]375 号），核准 公司公开发行不超过 42,487,500 股新股。 公司于 2022 年 3 月 8 日采用网下向符合条件的投资者询价配售和网上向持 有深圳市场非限售 A 股股份和非限售存托凭证市值的社会公众投资者定价发行 相结合的方式，公开发行人民币普通股（A 股）4,248.75 万股，每股面值人民币 ...

Financial Performance - The company's revenue for Q1 2025 was ¥3,141,628,657.07, representing a 10.82% increase compared to ¥2,834,785,940.87 in the same period last year[5] - Net profit attributable to shareholders was ¥214,700,249.72, up 15.81% from ¥185,389,285.31 year-on-year[5] - The net profit excluding non-recurring gains and losses increased by 31.75%, reaching ¥177,830,780.34 compared to ¥134,980,084.38 in the previous year[5] - Basic and diluted earnings per share were both ¥0.31, reflecting a 14.81% increase from ¥0.27 in the previous year[5] - Operating profit for the current period was ¥224,022,242.91, compared to ¥181,292,340.55 in the previous period, indicating a growth of 23.6%[18] - The net profit for the current period is ¥214,027,393.27, an increase of 16.1% compared to ¥184,341,767.47 in the previous period[19] - The company’s total comprehensive income for the current period is ¥214,027,393.27, compared to ¥184,341,767.47 in the previous period, reflecting a growth of 16.1%[19] Cash Flow and Assets - The net cash flow from operating activities surged by 299.06%, amounting to ¥520,655,088.88, compared to a negative cash flow of -¥261,557,797.44 in the same period last year[5] - Cash flow from operating activities generated a net cash inflow of ¥520,655,088.88, a significant improvement from a net outflow of ¥261,557,797.44 in the previous period[21] - Cash and cash equivalents increased to ¥3,935,352,467.76 from ¥3,850,925,861.57, showing a growth of 2.2%[16] - Cash and cash equivalents at the end of the period totaled ¥3,035,521,051.28, up from ¥1,958,145,480.76 at the end of the previous period, representing a 55% increase[23] - Total assets decreased by 8.56% to ¥14,997,269,986.87 from ¥16,401,563,855.59 at the end of the previous year[5] - Accounts receivable decreased significantly to ¥2,583,821,504.22 from ¥3,396,710,074.10, a reduction of 24%[16] - Inventory levels rose to ¥3,723,814,489.62, up from ¥3,251,858,721.90, reflecting an increase of 14.5%[16] - Total liabilities decreased to ¥7,052,284,774.18 from ¥8,709,819,812.02, a reduction of 18.9%[17] Shareholder Information - The total number of shareholders with voting rights at the end of the reporting period was 28,308[11] - The top 10 shareholders held a combined 27.06% of shares, with the largest shareholder being a domestic natural person[11] Revenue Breakdown - Revenue from smart interactive display products grew by 10.03%, with a shipment increase of 16.50%[13] - Revenue from innovative display products surged by 50.42%, with shipments increasing by 63.56%[13] - Smart TV revenue increased by 5.88%, with a shipment growth of 30.98%[13] - The company received cash from sales of goods and services amounting to ¥4,519,493,943.63, an increase of 9.8% from ¥4,115,206,441.57 in the previous period[21] Tax and Expenses - The company experienced a 559.62% increase in income tax expenses, amounting to ¥8,634,554.87, attributed to profit growth[9] - The company reported a decrease in tax expenses to ¥8,634,554.87 from ¥1,309,016.53 in the previous period, indicating improved tax efficiency[19] - Total operating costs amounted to ¥2,990,115,224.20, up from ¥2,749,681,274.97, reflecting a rise of 8.8%[18] Strategic Initiatives - The company emphasized brand product development and integrated AI technology, enhancing product capabilities and user experience[13] - The implementation of a differentiated marketing strategy helped the company achieve significant growth by accurately targeting customer segments[13] - The company has a strong focus on R&D for new products and technologies, leveraging VR and AR technologies[13]