Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 15% compared to the CSI 300 index in the next six months [6][7]. Core Insights - The company reported a significant increase in Q3 performance, with total revenue for the first three quarters reaching 1.918 billion yuan, a year-on-year growth of 55.17%. The net profit attributable to shareholders was 220 million yuan, up 170.8% year-on-year [2][3]. - In Q3 alone, the company achieved a revenue of 766 million yuan, representing a year-on-year increase of 65.79%, and a net profit of 97 million yuan, which is a remarkable year-on-year growth of 360.26% [2][3]. - The company's gross margin for the first three quarters was 39.1%, with a notable improvement in core business gross margin exceeding 50% after excluding low-margin outsourcing operations [2][3]. - The overseas revenue showed strong growth, reaching 956 million yuan in the first three quarters, a 47.9% increase year-on-year, supported by a localized market strategy [2][3]. Summary by Sections Financial Performance - The company’s revenue for 2024 is projected to be 2.306 billion yuan, with a growth rate of 35.68%. The net profit is expected to reach 260 million yuan, reflecting a growth rate of 154.92% [3]. - The gross margin is expected to stabilize around 42.00% in 2024, with a net profit margin projected to improve to 11.27% [3]. Market Position - The company is positioned as a leader in commercial vehicle information technology, with expectations of expanding market share due to low penetration rates and favorable regulatory changes in overseas markets [2][3]. Future Outlook - The report suggests an upward revision of profit forecasts for 2024-2026, with revenues expected to grow to 2.891 billion yuan and 3.527 billion yuan in 2025 and 2026, respectively [2][3].

证券代码：002970 证券简称：锐明技术 公告编号：2024-070 深圳市锐明技术股份有限公司 关于 2022 年股票期权激励计划预留授予第一批次 第二个行权期采用自主行权模式的提示性公告 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。 重要内容提示： 公司 2022 年股票期权激励计划（以下简称"本次激励计划"）预留授予 第一批次期权简称：锐明 JLC3；期权代码：037311； 公司本次激励计划预留授予第一批次第二个行权期符合行权条件的激励 对象共 92 名，可行权的股票期权数量共计 71.60 万份，行权价格为 20.56 元/份； 本次行权采用自主行权模式； 公司本次激励计划预留授予第一批次第二个行权期实际可行权期限为 2024 年 10 月 31 日起至 2025 年 10 月 24 日止； 本次可行权股票期权若全部行权，公司股份分布仍具备上市条件。 深圳市锐明技术股份有限公司（以下简称"公司"）于 2024 年 10 月 22 日 召开第四届董事会第五次会议及第四届监事会第五次会议，分别审议通过了《关 于 2022 年股票期权激励计划预留授予第 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2][9] Core Views - The company has achieved significant revenue and profit growth in the first three quarters of 2024, with revenue reaching 1.918 billion yuan, a year-on-year increase of 55%, and net profit of 220 million yuan, a year-on-year increase of 171% [5][9] - The company is expanding its overseas business with a customized market strategy, establishing local subsidiaries and offices, and enhancing local employee ratios to improve operational proximity [6][9] - The company has improved its research and development efficiency and is controlling expenses effectively, which is expected to accelerate profit release [7][9] Financial Performance - In Q3 2024, the company reported revenue of 766 million yuan, a year-on-year increase of 66%, and net profit of 97 million yuan, a year-on-year increase of 360% [5][9] - The company’s revenue for 2024 is projected to be 2.567 billion yuan, with net profit expected to reach 295 million yuan, and EPS forecasted at 1.68 yuan [8][9] - The gross margin for the core business segments has shown an upward trend, with commercial vehicle monitoring systems at 47.99% and general monitoring products at 62.99% [6][9] Market Comparison - The company’s stock closed at 46.00 yuan, with a market capitalization of 8.086 billion yuan [2][10] - The company is compared favorably against peers, with a projected P/E ratio of 27.45 for 2024, indicating a competitive valuation [10][11]

向关心支持瑞敏的朋友们大家下午好欢迎大家百忙之中抽出时间参加公司2024年三季度的业绩声明会我代表公司向大家表示衷心的感谢谢谢大家列临现场包括线上的朋友今天由汪总和我一起向大家做三季度的业绩声明会下面由我介绍一下公司今年三季度的业绩达成情况今年三季度公司业绩 公司业绩延续了上半年持续向好的一个趋势海外业务仍然快速增长国内业务还在恢复当中结合国内外市场的不同发展情况公司仍深度拓展海外市场持续推动公司的全球化进程目前海外营销人员的数量接近150人有140多个人其中40%应该是海外的一些本地化的一些外籍员工 然后市场覆盖的区域正在进一步的扩大白区市场突破正在进行当中海外业务呈现出持续向好的一个发展态势通过瑞民人艰苦卓绝的努力公司业绩已经连续七个季度实现恢复性增长各项业务的开展向好发展 收入方面 单三季度实现收入7.66亿 同比增长65.8 环比增长17.8累计实现收入19.2亿 同比增长55.2扣除外息加工业务后的主营业务收入实现14.3亿同比增长了31.1主营业务方面 国内在经济大环境仍然较弱的情况下前三季度收入同比仍增长接近7% 增长的主要原因是公司基于国内市场的情况做了销售策略的一个调整就是国内业务由价格市场 ...

证券代码：002970 证券简称：锐明技术 编号：2024-031 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 ☑现场参观 □反路演 ☑其他（线上会议） 投资者关 系活动类 别 深圳市锐明技术股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | --- | |----------|---------------------------------|------------|------------------|------------| | | 单位名称 | 参会者姓名 | 单位名称 | 参会者姓名 | | | 广发基金 | 陈少平 | 广发基金 | 卓德麟 | | | 富国基金 | 朱少醒 | 富国基金 | 赵年珅 | | | 富国基金 | 张富盛 | 富国基金 | 曾新杰 | | | 富国基金 | 于洋 | 富国基金 | 胡怀瑾 | | | 富国基金 | 钱伟华 | 富国基金 | 李晓明 | | | 富国基金 | 王建润 | 富国基金 | 白杨 | | | 富国基金 | 蒲梦洁 | 富国基金 | 袁兵兵 | | | 东方资管 | 傅奕 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [4]. Core Views - The company has achieved significant revenue growth, with a total operating income of 1.918 billion yuan, representing a year-on-year increase of 55%. The net profit attributable to the parent company reached 220 million yuan, up 171% year-on-year [4]. - The gross profit margin in Q3 decreased by 7.26 percentage points, primarily due to the rapid growth of non-core business, which has increased its share [4]. - The company has optimized its expense ratios across various categories, with sales, management, financial, and R&D expense ratios decreasing by 3.87, 2.54, 0.01, and 2.77 percentage points respectively, attributed to adjustments in sales personnel and improvements in management and R&D efficiency [4]. - The net profit margin has rebounded to over 10%, with expectations for further improvement as the company's overseas business share increases and the R&D structure continues to optimize costs [4]. Summary by Sections Revenue and Profitability - For Q3 2024, the company reported an operating income of 766 million yuan, a year-on-year increase of 66%, and a net profit of 97 million yuan, up 360% year-on-year [4]. - The company is benefiting from strong domestic and international demand, with a focus on enhancing its global strategy through the establishment of overseas subsidiaries and local employee integration [4]. Business Highlights - The company has completed certification for its European standard pre-installation business with major domestic bus manufacturers and is expected to gradually enter the passenger car market [4]. - The launch of the SafeGPT large model platform product provides significant value to clients through efficient risk aggregation and accident identification features [4]. - The company's vehicle-mounted video monitoring products are evolving towards fully intelligent third-generation products, addressing various industry pain points in commercial vehicles [4]. Future Outlook - The company is expected to continue benefiting from the growth of the commercial vehicle information market driven by emerging technologies such as AI, V2X, and 5G [5]. - The projected net profits for 2024-2026 are estimated at 281 million, 371 million, and 483 million yuan, with year-on-year growth rates of 176%, 32%, and 30% respectively [5]. - The company’s valuation is considered low compared to its U.S. counterparts, indicating potential for upward adjustment [5].

证券研究报告 计算机 报告日期：2024 年 10 月 24 日 业绩高增长，稳步推进海外布局 ——锐明技术（002970.SZ）2024 年三季报点评报告 华龙证券研究所 最近一年走势 2024 年 10 月 22 日，锐明技术发布 2024 年三季度报告，公司前 三季度实现营业总收入 19.18 亿元，同比增长 55.17%；归母净利润为 2.20 亿元，同比增长 170.8%。 事件： 投资评级：增持（首次覆盖） 观点： 单季度业绩增长强劲，全年盈利预期向好。单季度来看，公司 2024 年单三季度实现营业收入 7.66 亿元，同比增长 65.79%；实现归 母净利润 0.97 亿元，同比增长 360.26%。同时，受收入端增长拉 动，公司应收账款较期初增长 43.61%；存货较期初增长 65.46%； 年内，公司费用管控能力显著提升。前三季度，公司销售净利率 提升至 11.61%（同比提升 5.07%）。全年来看，我们预计公司备 货充裕，经营效率、盈利能力向好，收入增长有一定韧性。 市场数据 2024 年 10 月 22 日 当前价格（元） 47.58 52 周价格区间（元） 18.70-49.50 总 ...

锐明技术(002970) / 计算机设备 / 公司点评 / 2024.10.23 投资评级:增持(维持) 核心观点 | --- | --- | |------------------------|------------| | 基本数据 | 2024-10-22 | | 收盘价 ( 元 ) | 47.58 | | 流通股本 ( 亿股 ) | 1.15 | | 每股净资产 ( 元 ) | 9.42 | | 总股本 ( 亿股 ) | 1.76 | | 最近 12 月市场表现 | | -27% -6% 15% 36% 57% 78% 锐明技术 沪深300 分析师 杨烨 SAC 证书编号：S0160522050001 yangye01@ctsec.com 分析师 王妍丹 SAC 证书编号：S0160524040002 wangyd01@ctsec.com 相关报告 1. 《Q3 业绩超预期，智能化出海景气 度高》 2024-10-15 2. 《业绩同比翻倍，海外业务带来高成 长》 2024-08-22 ❖ 事件：锐明技术 10 月 22 日晚间披露三季度报告，公司第三季度实现营业收 入 7.66 亿元，同比增长 65 ...

一、2022 年股票期权激励计划预留授予第一批次第二个行权期可行权股票期权 分配情况 | 姓名 职务 | 获授的股 票期权数 | 已注销期权 数量（万 | 第二个行权 期可行权数 | 本次可行权 | 可行权数量占公 司股本总额的比 | | --- | --- | --- | --- | --- | --- | | | 量（万 份） | 份） | 量（万份） | 比例 | 例 | | 核心管理人员及核 心技术（业务）人 员 | 179.00 | 53.70 | 71.60 | 40.00% | 0.41% | | （92 人） | | | | | | 注：1、因公司 2022 年股票期权激励计划预留授予第二批次第一个行权期及首次授予部分第二个行权 期尚处于自主行权阶段，上表中"公司股本总额"采用公司截至 2024 年 10 月 10 日的总股本数量。 2、本次激励计划的激励对象不包括公司独立董事、监事及单独或合计持有公司 5%以上股份的股东或 实际控制人及其配偶、父母、子女。 深圳市锐明技术股份有限公司 2022 年股票期权激励计划预留授予第一批次第二个行权期 符合行权条件的激励对象名单 根据深圳市锐明技术股份 ...

第三条 独立董事对公司及全体股东负有忠实与勤勉义务。独立董事应当 按照相关法律、行政法规、规范性文件和《公司章程》的要求，认真履行职责， 在董事会中发挥参与决策、监督制衡、专业咨询作用，维护公司整体利益，保护 中小股东合法权益。 独立董事应当独立履行职责，不受公司及其主要股东、实际控制人等单位或 个人的影响。 深圳市锐明技术股份有限公司 独立董事工作制度 第一章 总则 第一条 为进一步完善深圳市锐明技术股份有限公司（以下简称"公司" 或"本公司"）法人治理结构，促进公司的规范运作，根据《中华人民共和国公 司法》（以下简称"《公司法》"）、《深圳市锐明技术股份有限公司章程》 （以下简称"《公司章程》"），并参照中国证券监督管理委员会（以下简称 "中国证监会"）《上市公司独立董事管理办法》《上市公司治理准则》、《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》（以下简 称"《上市公司规范运作》"）《深圳证券交易所股票上市规则》（以下简称 "《股票上市规则》"）的规定，制定本制度。 第二条 独立董事是指不在公司担任除董事外的其他职务，并与公司及其 主要股东、实际控制人不存在直接或者间接利害关系 ...