光峰科技:2024年年度报告(英文版)

Stock Code: 688007 Stock Short Name: Appotronics
Appotronics Corporation Limited
Annual Report 2024
April 2025
本报告为深圳光峰科技股份有限公司自愿披露的《2024 年年度报告（英文版）》，对本报告的中英文版本理解上发生歧义时，以中文版本为准。
This is the 2024 Annual Report (English version) voluntarily disclosed by Appotronics
Corporation Limited. In the event of any discrepancy between the English and Chinese
versions of this Report, the Chinese version shall prevail.

Keep Forging Ahead with Determination
Dear all shareholders of Appotronics:
As the world ushered in great challenges at the beginning of 2025, it is my honor to
have this opportunity to communicate with you again at this moment. The year 2024 is a
crucial year for insisting on our strategy for Appotronics. We achieved continuous
breakthroughs in upstream core technologies, and maintained leading advantages and won
the recognition of international leading customers in new business fields. During this
process, besides the hard work of the management and employees, I am especially grateful
for the companionship and support from all shareholders.
With the firm belief in the power of persistence when facing various internal and
external challenges, last year, Appotronics achieved an operating revenue of RMB 2.419
billion, where the automotive business contributed an operating revenue of over RMB 600
million. By now, we have acquired a total of 13 automotive nominations, covering, among
others, automobile-grade giant screens and headlight modules. Instead of seeking orders in
vicious competition by combating a price war, we achieved joint development with
customers relying on our in-depth technical accumulation and professional supply
guarantees.
I am even more gratified by and proud of the abundant achievements we made in the
cutting-edge layout. We continued our R&D investments to promote the integration
between laser and AI, to explore more application scenarios, and to continuously expand to
more fields like AR glasses, robots, etc. We provided ALPD® modules for “Xiaowei”, the
first household service robot released by Midea Group. These ALPD® modules empower
the robots with “visual expression” to reconstruct the scenario and achieve innovative
human-machine interaction. Before that, we developed the world’s first AR optical module
with a PPI of over 10,000; by now, we have shipped sample modules to several leading
listed companies in the AR industry chain for preliminary research and preliminary product
development, which provides a solid ground for our development in the AR field.
In my messages to shareholders in the past years, I stated that “in the coming years,
we will strive to build a smart supply chain, transforming a small workshop into novel
smart manufacturing. We will move to a new production base to solidify the foundations,
including research and development, supply chain, and platform capabilities”. This year,
we have fulfilled our commitments: Appotronics achieved two major milestones - the
global headquarters building built by Appotronics in Shenzhen and the Appotronics
Innovation and Intelligence Valley Industrial Park have been put into use officially. As our
“R&D headquarters” and the “advanced manufacturing base of optical devices and optical
modules”, the completion of the two projects reflects the close combination between our
in-depth R&D efforts and advanced process manufacturing and a closed loop from
scientific research to manufacturing, which greatly accelerates technological innovation,
further strengthens our technical leading advantages, and promotes our technological
innovation to a new stage.
Despite the difficulties we encountered in the first quarter, we keep our clear
objectives in mind and have the strategic determination to move on. The trend of
integration between the rapidly developing new technologies, such as AI, AR, and robots,
and laser technologies remains unchanged, which will create more application scenarios for
semiconductor laser. Appotronics will insist on the development strategy of “core
technologies + core components + application scenarios” and improve our competitiveness
in three aspects:
In the future, we will focus on ensuring resources for the upstream strategy;
In the future, we will make use of organizational transformation to promote the
implementation of our strategies and improve operating quality; and
In the future, we will explore new major racetracks and create a more open ecology
relying on our upstream advantages.
Facing the turbulent changes in the external environment, we insist on our original
intention of creating a better life for people with technology. Therefore, I would like to
close my message with my statement last year: “I believe in the confidence and power of
Appotronics as a technology enterprise to seize the opportunity and create more growth
space in the trend of the era. Meanwhile, we are also aware