证券代码：300638 证券简称：广和通 公告编号：2024-115 1、投资目的：为提高公司资金使用效率，在不影响正常生产经营的情况下， 合理利用部分自有闲置资金进行委托理财，增加资金收益，为公司及股东获取更 多的投资回报。 2、额度及期限：公司、全资子公司及控股子公司拟使用不超过 5 亿元的自 有闲置资金进行委托理财，使用期限自 2024 年 11 月 17 日至 2025 年 11 月 16 日， 在上述额度及决议有效期内，可循环滚动使用。 3、资金来源：公司自有闲置资金，不涉及使用募集资金。 4、投资品种：用于购买安全性高、流动性好、有保本约定或低风险的理财 产品。包括但不限于结构性存款、大额存单、券商理财产品、国债逆回购、货币 型基金等，不用于其他证券投资，不购买股票及其衍生品、无担保债券为投资标 的的产品。 深圳市广和通无线股份有限公司 关于使用部分自有闲置资金进行委托理财的公告 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。 深圳市广和通无线股份有限公司（以下简称"公司"、"广和通"）第四届董事 会第九次会议审议通过了《关于使用部分自有闲置资金进 ...

深圳市广和通无线股份有限公司（以下简称"公司"）第四届董事会第九次会 议，于 2024 年 11 月 11 日发出会议通知，2024 年 11 月 14 日以现场会议与通讯 表决相结合的方式召开。本次会议应参与董事 5 名，实际参与董事 5 名。董事长 张天瑜先生主持本次会议，董事会会议的举行和召开符合国家有关法律、法规及 《公司章程》的规定。经充分讨论和审议，会议形成决议如下： 一、审议通过了《关于使用部分自有闲置资金进行委托理财的议案》 为提高公司资金使用效率，增加资金收益，为公司及股东获取更多的投资回 报，公司、全资子公司及控股子公司拟在确保不影响正常生产经营的情况下，使 用不超过 5 亿元的自有闲置资金进行委托理财，用于购买安全性高、流动性好、 保本或低风险的理财产品，使用期限自 2024 年 11 月 17 日至 2025 年 11 月 16 日。 在上述使用期限及额度范围内，资金可以滚动使用，并授权公司董事长在上述额 度内行使决策权并签署相关文件，授权期限自 2024 年 11 月 17 日至 2025 年 11 月 16 日。 具体内容详见同日刊登于中国证监会指定创业板信息披露网站巨潮资讯网 （ ...

证券代码：300638 证券简称：广和通 公告编号：2024-114 深圳市广和通无线股份有限公司 关于开展外汇套期保值业务的公告 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。 深圳市广和通无线股份有限公司（以下简称"公司"）于 2025 年 11 月 14 日 召开了第四届董事会第九次会议和第四届监事会第九次会议，审议通过了《关 于公司开展外汇套期保值业务的议案》，同意公司、全资子公司及控股子公司 使用自有资金开展累计金额不超过人民币 5 亿元或等值外币的外汇套期保值业 务，包括但不限于远期结售汇、外汇掉期、外汇期权、利率互换、货币互换、 利率掉期、利率期权、双货币存款等业务。投资期限为 2024 年 11 月 17 日至 2025 年 11 月 16 日，以上资金额度在投资期限内可循环滚动使用，如单笔交易 的存续期超过了决议的有效期，则决议的有效期自动顺延至单笔交易终止时 止，并授权董事长或其授权人在额度范围内具体实施上述外汇套期保值业务相 关事宜。 根据《深圳证券交易所创业板股票上市规则》、《深圳证券交易所上市公 司自律监管指引第 2 号——创业板上市 ...

证券代码：300638 证券简称：广和通 公告编号：2024-112 深圳市广和通无线股份有限公司 第四届监事会第九次会议决议公告 本公司及监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。 深圳市广和通无线股份有限公司（以下简称"公司"）第四届监事会第九次会 议，于 2024 年 11 月 11 日发出会议通知，2024 年 11 月 14 日以现场会议方式召 开。本次会议应参与监事 3 名，实际参与监事 3 名。监事会主席陈绮华女士主持 本次会议，监事会会议的举行和召开符合国家有关法律、法规及《公司章程》的 规定。经充分讨论和审议，会议形成决议如下： 一、审议通过了《关于使用部分自有闲置资金进行委托理财的议案》 同意公司、全资子公司及控股子公司在确保不影响正常生产经营的情况下， 使用不超过 5 亿元的自有闲置资金进行委托理财，用于购买安全性高、流动性好、 保本或低风险的理财产品，使用期限自 2024 年 11 月 17 日至 2025 年 11 月 16 日。 在上述使用期限及额度范围内，资金可以滚动使用，并授权公司董事长在上述额 度内行使决策权并签署相关文件，授权期 ...

Investment Rating - The report upgrades the company's rating to "Buy-B" [5] Core Views - The company continues to expand its product line in the IoT vertical industry, launching new products such as the SC208 smart module, MC610-GL LTE Cat1 bis module, WN372-GL Wi-Fi7 module, and FG332 series RedCap module based on MediaTek T300 platform [1] - The company is actively developing AIOT, partnering with Digua Robotics for lawn mowing robots and collaborating with DaFa Technology (a subsidiary of MediaTek) on 5G FWA solutions [2] - The company's Q3 2024 revenue reached 2 142 billion yuan, up 4 55% YoY and 9 74% QoQ, with net profit attributable to shareholders of 318 million yuan, up 108 87% YoY and 118 69% QoQ [2] - Excluding the impact of Ruiling's deconsolidation, the company's adjusted net profit for Q1-Q3 2024 was 450 million yuan, up 3 83% YoY [3] - The company's market share in the global cellular IoT module market reached 7 5% in Q2 2024, ranking third [3] - The company is expected to achieve net profit of 721 million yuan, 665 million yuan, and 819 million yuan in 2024, 2025, and 2026, respectively, with YoY growth rates of 27 9%, -7 7%, and 23 1% [5] Financial Performance - Q1-Q3 2024 revenue: 6 217 billion yuan, up 5 12% YoY [2] - Q1-Q3 2024 net profit attributable to shareholders: 652 million yuan, up 43 22% YoY [2] - Q3 2024 revenue: 2 142 billion yuan, up 4 55% YoY and 9 74% QoQ [2] - Q3 2024 net profit attributable to shareholders: 318 million yuan, up 108 87% YoY and 118 69% QoQ [2] - 2024E revenue: 8 175 billion yuan, up 6 0% YoY [7] - 2024E net profit: 721 million yuan, up 27 9% YoY [7] - 2025E revenue: 8 706 billion yuan, up 6 5% YoY [7] - 2025E net profit: 665 million yuan, down 7 7% YoY [7] - 2026E revenue: 10 166 billion yuan, up 16 8% YoY [7] - 2026E net profit: 819 million yuan, up 23 1% YoY [7] Market Position and Growth Drivers - The company's IoT module market is recovering, with global cellular IoT module shipments increasing by 11% YoY and 6% QoQ in Q2 2024, driven by strong performance in China and India [3] - The company is expected to benefit from the growth of AIPC, AI agent, and edge AI markets, with its PC business recovering since Q3 2023 [5] - The company's customized solutions for low-altitude economy can achieve "no disconnection in the air, real-time image transmission," applicable in logistics and urban inspection [5] Valuation Metrics - 2024E P/E: 19 3x [7] - 2024E P/B: 3 9x [7] - 2024E EV/EBITDA: 15 1x [9] - 2025E P/E: 20 9x [7] - 2025E P/B: 3 5x [7] - 2025E EV/EBITDA: 15 3x [9] - 2026E P/E: 17 0x [7] - 2026E P/B: 3 0x [7] - 2026E EV/EBITDA: 13 3x [9]

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][3] Core Views - The company has shown steady growth in performance, with a revenue of 6.217 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 5.12%. The net profit attributable to shareholders reached 652 million yuan, up 43.22% year-on-year [2][3] - In Q3 2024 alone, the company achieved a revenue of 2.142 billion yuan, marking a 4.55% year-on-year growth and a 9.74% quarter-on-quarter increase. The net profit for the same quarter was 318 million yuan, reflecting a significant year-on-year growth of 108.87% and a quarter-on-quarter increase of 118.69% [2][3] Financial Performance Summary - For 2024, the company has adjusted its revenue forecasts to 9.311 billion yuan, 8.633 billion yuan, and 10.122 billion yuan for 2024, 2025, and 2026 respectively. The net profit forecasts are set at 713 million yuan, 658 million yuan, and 782 million yuan for the same years [3][6] - The current price of the stock is 15.50 yuan, with a market capitalization of approximately 11.87 billion yuan [3][5] - The company is focusing on the vertical industry of the Internet of Things (IoT), launching multiple new products to meet diverse customer needs globally. The promotion and application of new products in the IoT sector are progressing well, with successful implementations in smart lawn mower solutions [3][5]

Investment Rating - The investment rating for the company is "Outperform the Market" [2] Core Insights - The company reported a revenue of 6.217 billion yuan for the first three quarters, representing a year-on-year increase of 5.12%, and a net profit attributable to the parent company of 652 million yuan, up 43.22% year-on-year [3] - In Q3 2024, the company achieved a revenue of 2.142 billion yuan, a year-on-year increase of 4.55% and a quarter-on-quarter increase of 9.74%, with a net profit of 318 million yuan, reflecting a year-on-year growth of 108.87% [3] - The domestic vehicle-mounted and Fixed Wireless Access (FWA) businesses are the main contributors to revenue growth, with significant market share in North America and expansion into India and Europe [4] - The company is also expanding into AI and robotics, with plans for mass production of smart modules and intelligent robots in Q4 2024 [4] - The company expects substantial growth in FWA business over the next three years due to market opportunities [4] Financial Summary - The company forecasts revenues of 8.428 billion yuan, 8.985 billion yuan, and 11.090 billion yuan for 2024, 2025, and 2026 respectively, with net profits of 760 million yuan, 614 million yuan, and 783 million yuan [5] - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 0.99 yuan, 0.80 yuan, and 1.02 yuan respectively [5] - The company’s gross margin is expected to be around 20.5% in 2024, with a net profit margin of 9.0% [9] - The company’s total revenue is projected to grow at a rate of 9.23% in 2024 and 6.61% in 2025 [8] Business Segmentation - The wireless communication equipment segment is expected to generate revenues of 8.121 billion yuan in 2024, with a growth rate of 8.12% [8] - The other segment is projected to see revenues of 307.15 million yuan in 2024, with a growth rate of 50% [8] - The overall gross margin for the company is expected to stabilize around 20.5% in the coming years [8]

广和通（300638.SZ） 前三季度营收稳健增长，加速拓展机器人等新业务领域 | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------|-------|-------|-------|--------|-------------------------------------------|-----------| | | | | | | | | | | | | | | | | | | | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入（维持评级） | | | 营业收入（百万元） | 5,646 | 7,716 | 8,176 | 8,672 | 10,222 | | | | 增长率 yoy （ % ） | 37.4 | 36.7 | 6.0 | 6.1 | 17.9 | 股票信息 | | | 归母净利润（百万元） | 365 | 564 | 717 | 649 | 779 | 行业 | 通信 | | 增长率 ...

公司报告 | 季报点评 业务呈复苏态势，积极布局 AI、机器人新领域拓展更大成长空间 事件： 公司公告，2024 年前三季度营收约 62.17 亿元，同比增加 5.12%；归属于 上市公司股东的净利润约 6.52 亿元，同比增加 43.22%；扣非净利润 4.5 亿 元，同比增长 3.83%。 Q3 收入 21.42 亿元，同比增长 4.55%，较高基数下（去年同期含锐凌车载 收入）扭转 Q2 下滑趋势，环比增长近 2 亿元，反映公司业务在整体物联 网行业复苏下呈现回暖；Q3 净利润 3.18 亿元，同比增长 108.87%，主要系 处置锐凌车载业务产生投资收益 1.79 亿元，Q3 扣非净利润 1.34 亿元，同 比下滑 10.62%，也是和锐凌去年同期贡献利润基数有关。其中锐凌无线于 2024 年 7 月 26 日完成交割。 毛利率下滑，费用率下降 2024 年前三季度毛利率20.71%，同比下降1.8 个百分点；Q3 毛利率19.06%， 同比下降 4.15 个百分点，环比下滑 2.6 个百分点。费用端，前三季度销售 /管理/研发/财务费用率分别为 2.44%、2.09%、8.4%和 0.45%，同比变 ...

Investment Rating - The report maintains a "Buy" rating for the company [1][2]. Core Views - The company has shown a steady revenue growth with a year-on-year increase of 5.12% in the first three quarters of 2024, achieving a revenue of 62.16 billion yuan [1]. - The net profit attributable to the parent company reached 6.52 billion yuan, reflecting a significant year-on-year growth of 43.22% [1]. - The company is positioned as a leading provider of IoT communication solutions, with strong market competitiveness and technological advantages [1]. Financial Summary - **Revenue Forecast**: - 2022A: 5,646 million yuan - 2023A: 7,716 million yuan - 2024E: 8,115 million yuan - 2025E: 8,670 million yuan - 2026E: 10,632 million yuan [1][4] - **Net Profit Forecast**: - 2022A: 364 million yuan - 2023A: 564 million yuan - 2024E: 715 million yuan - 2025E: 611 million yuan - 2026E: 764 million yuan [1][4] - **Earnings Per Share (EPS)**: - 2022A: 0.48 yuan - 2023A: 0.74 yuan - 2024E: 0.93 yuan - 2025E: 0.80 yuan - 2026E: 1.00 yuan [1][4] - **Key Financial Ratios**: - P/E ratio for 2024E is projected at 17.5, and P/B ratio at 3.5 [1]. - Return on Equity (ROE) is expected to be 20% in 2024E [1]. Market Position and Growth Potential - The company is actively advancing its robotics business, with a focus on smart computing products and applications in various fields, including smart homes and autonomous vehicles [1]. - The global demand for cellular IoT connections is projected to exceed 6.2 billion by 2030, indicating significant growth potential for the company's IoT modules [1]. - The company has launched multiple products in the smart robotics sector, aiming to capture market share in emerging markets [1].