| 研究報告 2024 年 9 月 12 日 中創新航 | 03931.HK 經營情況預期得到改善 評級 目標價 HK$ 16.64 維持全年出貨目標: 2024 年上半財年，中創新航(03931.HK)取得 124.7 億元人民幣 總收入，較去年同期輕微成長 1.4%，其中動力電池銷售按年減少 6.3%，而儲能系 統產品銷售則同比增長 43.2%，佔總收入比進一步提升至 22.0%。動力電池銷售下 降主要來自於平均售價下滑導致，抵銷銷售量上升的正面影響。然而，市場上動力 電池的銷售價格自六月起漸趨穩定，跌幅在低基數的帶動下顯著減少，需求端方面 新能源汽車滲透率提升至五成，反映市場供需差的問題暫無進一步惡化。根據我們 與集團的溝通，集團對下半年及明年的出貨保持樂觀，全年出貨量預期保持不變， 而海外項目的貢獻將於 2026/27 年開始體現。此外，集團對單一客戶的依賴持續減 少，主要客戶如吉利(00175.HK)、廣汽(02238.HK)、長安(000625.CH)、小鵬 (09868.HK)及零跑(09863.HK)等車企貢獻的比例維持在 10% - 20%左右的水平，與 其他知名的內地及國外廠商的項目亦正積 ...

Investment Rating - The report assigns an "Outperform" rating to the company, indicating an expectation of better performance compared to the market [4]. Core Insights - The company has shown significant growth in its performance for the first half of 2024, with revenue reaching 12.469 billion yuan, a year-on-year increase of 1.4%, and a profit of 417 million yuan, up 56.6% year-on-year [4]. - The company is actively promoting technological innovation, enhancing its competitive edge with new product releases and advancements in battery technology [4][8]. - The report highlights the company's strong position in various sectors, including power batteries, energy storage, and marine applications, with substantial growth in installed capacity and product deliveries [4][6]. Summary by Sections Financial Performance - For the first half of 2024, the company achieved a revenue of 12.469 billion yuan, with a profit margin of 15.62%, reflecting a 6.03 percentage point increase year-on-year [4]. - The projected net profits for 2024-2026 are estimated at 654 million yuan, 1.023 billion yuan, and 1.474 billion yuan respectively, indicating robust growth [5][6]. Business Segments - Power Battery: The company ranks second among third-party power battery manufacturers in China, with a 155% year-on-year increase in installed capacity for hybrid vehicles and a 125% increase for commercial vehicles [4]. - Energy Storage: The company has seen a significant increase in shipments, with the 314Ah cell product achieving large-scale stable deliveries and securing the largest global energy storage battery order [4][6]. - Marine Applications: The company is the first domestic battery manufacturer to receive DNV certification and has signed multiple international large ship projects [4]. Valuation and Forecast - The report estimates a price-to-earnings (PE) ratio of 38-40 for 2024, translating to a reasonable value range of 14.01-14.75 yuan, or 15.35-16.15 Hong Kong dollars [4][8]. - The company is projected to maintain a gross margin of 15.50% across its product lines, with significant growth in both power battery and energy storage revenues over the next few years [6][7].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 CALB Group Co., Ltd. 中創新航科技集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3931） 截至2024年6月30日止六個月之中期業績公告 中創新航科技集團股份有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣 佈本公司及其附屬公司（統稱「本集團」、「中創新航」或「我們」）截至2024年6月30 日止六個月（「報告期」）的未經審計簡明合併中期業績，連同截至2023年6月30日 止六個月的業績比較數字，如下文所示： 財務摘要 本集團收入由截至2023年6月30日止六個月的人民幣12,294.71百萬元增長1.4% 至截至2024年6月30日止六個月的人民幣12,469.24百萬元。 本集團期內利潤由截至2023年6月30日止六個月的人民幣266.49百萬元增長 56.6%至截至2024年6月30日止六個月的人民幣417.31百萬元。 1 中期簡明合 ...

| 研究報告 2024年6月11 日 中創新航 | 03931.HK 更新報告 壓力未見改善 敖曉風, Brian, CFA 高級分析師 評級 目標價 brianngo@westbullsec.com.hk 持有 HK$ 15.70 +852 3896 2965 市場份額回落: 2023財年，中創新航(03931.HK)錄得270.1億元人民幣總收入，按 香港上環德輔道中199號無限極廣場2701 – 2703室 年成長32.5%，其中佔總收入約八成的動力電銷售同比增長21.4%至222.5億元人 中創新航 (03931.HK) 民幣，儲能系統產品銷售的佔比亦進一步提升。根據中國動力電池產業創新聯盟的 評級 持有 (買入) 數據顯示，20203 年中創新航(03931.HK)動力電池裝車量按年成長逾七成至 目標價 HK$ 15.70 (HK$ 25.70) 32.9GWh，市場份額從2022年的6.5%增加至2023年的8.5%。按裝車量計算， 現價 HK$ 14.90 廣汽(02238.HK)、小鵬(09868.HK)及零跑(09863.HK)仍為集團的主要客戶。然而， 52-周波幅 HK$ 11.06 – ...

Battery Technology and Innovation - CALB successfully launched 6C ultra-fast charging large cylindrical batteries and mass-produced 314Ah energy storage batteries in 2023[7] - The company's semi-solid-state battery achieved a breakthrough in energy density of 400Wh/kg with a cycle life close to 1,000 times[7] - The company developed high-nickel/silicon system batteries for low-altitude economy applications in 2023[6] - The company completed key technological breakthroughs, including the development of 6C ultra-fast charging large cylindrical batteries and high-efficiency, ultra-long-life 314Ah energy storage batteries, which have been mass-produced and delivered[17] - The company achieved breakthroughs in advanced materials, including high-manganese iron lithium materials, 5V high-voltage nickel-manganese lithium materials, and new silicon-carbon materials[18] - The company developed 4C ultra-fast charging lithium iron phosphate technology and 6C ultra-fast charging high-nickel cylindrical technology, combining high energy and ultra-fast charging capabilities[18] - The company completed the development of 400Wh/kg high-energy, high-safety hybrid solid-liquid battery technology, leading the industry in thermal safety and calendar life[18] - The company's 800V 3C/4C mid-nickel high-voltage battery achieves a 20% to 80% charge time of 10 minutes and has been delivered in large quantities[21] - The company's 800V 5C ultra-fast charging lithium iron phosphate battery achieves a 20% to 80% charge time of 9 minutes and is set for mass delivery[23] - The company's 314Ah battery cell product has a cycle life of up to 7,000 cycles in the commercial vehicle sector, utilizing breakthrough lithium replenishment technology[24] - The company's high-energy high-nickel multi-element battery achieves a cell energy density of 350Wh/kg and a cycle life exceeding 1,500 cycles[21] - The company's semi-solid-state battery achieves a cell energy density of over 400Wh/kg and a cycle life close to 1,000 cycles[21] Energy Storage Business Growth - The company's energy storage business achieved multiple-fold growth in 2023, with batch deliveries to multiple strategic customers[6] - The company's energy storage business experienced exponential growth, achieving batch deliveries to multiple strategic customers[16] - Energy storage business achieved multiple-fold growth, with strategic partnerships established with major power groups and system integrators, and successful deployment of multiple energy storage station projects[29] - The company completed product recognition and cooperation with all top 30 system integrators, delivering to over 20 of them, becoming a core supplier and partner for leading industry players[29] - Two independent energy storage station projects were successfully bid and completed, marking a breakthrough in the energy storage station business[29] - The company plans to achieve multiple-fold growth in energy storage shipments by deepening strategic partnerships with major power groups and system integrators, and exploring diversified business models in commercial and industrial energy storage[34] Financial Performance and Growth - Total assets of the company reached RMB 105.429 billion, a year-on-year increase of 16.5%, and net assets reached RMB 46.386 billion, a year-on-year increase of 11.6%[27] - The company achieved revenue of approximately RMB 27.006 billion, a year-on-year increase of 32.5%, driven by capacity release, product line expansion, and strengthened customer relationships[27] - Revenue increased by 32.5% from RMB 20,374.94 million in 2022 to RMB 27,005.89 million in 2023[36] - Gross profit grew by 66.9% from RMB 2,103.52 million in 2022 to RMB 3,511.52 million in 2023, with gross margin rising from 10.3% to 13.0%[36] - Power battery sales revenue increased by 21.4% from RMB 18,323.51 million in 2022 to RMB 22,249.05 million in 2023, accounting for 82.4% of total revenue[38] - Energy storage system and other products revenue surged by 131.9% from RMB 2,051.44 million in 2022 to RMB 4,756.84 million in 2023[39] - Domestic revenue grew by 31.8% from RMB 19,988.44 million in 2022 to RMB 26,353.03 million in 2023, representing 97.6% of total revenue[40] - Overseas revenue increased by 68.9% from RMB 386.51 million in 2022 to RMB 652.86 million in 2023[41] - Total assets grew by 16.5% from RMB 90,460.62 million in 2022 to RMB 105,429.03 million in 2023, with non-current assets increasing by 38.1%[42] - Total liabilities rose by 20.8% from RMB 48,885.16 million in 2022 to RMB 59,043.24 million in 2023, driven by increased short-term borrowing and project syndicated loans[43] - Operating cash inflow increased by 37.5% from RMB 2,109.05 million in 2022 to RMB 2,900.17 million in 2023[44] - Bank and cash balances (including pledged and restricted bank deposits) stood at RMB 9,215.86 million as of December 31, 2023, compared to RMB 12,916.90 million in 2022[44] - The company's outstanding loans as of December 31, 2023, were all denominated in RMB, with 6.1% at fixed interest rates and the remainder at floating rates[46] - The company's asset-liability ratio increased to 47.1% as of December 31, 2023, up from 17.7% in 2022, primarily due to increased project construction loans[46] - Capital expenditures for the year ended December 31, 2023, amounted to RMB 20,129.02 million, a decrease from RMB 29,989.32 million in 2022, mainly used for capacity expansion[48] - The company had committed but not yet incurred capital expenditures totaling RMB 19,828.09 million as of December 31, 2023, related to the acquisition of property, plant, and equipment and intangible assets[49] - Restricted assets with a total book value of RMB 5,763.55 million were used to secure bank loans and other bank financing as of December 31, 2023[50] - The company's maximum potential risk from default on endorsed, discounted, and factored instruments was RMB 9,969,808 thousand as of December 31, 2023, up from RMB 3,534,942 thousand in 2022[54] - The company made provisions totaling RMB 8.64 million for patent infringement claims related to Patent 1, Patent 3, and Patent 4 in 2022, but reversed RMB 8.4 million of these provisions in 2023 after the Supreme Court dismissed the claims[55] - The company maintained a provision of RMB 0.24 million for the Patent 3 claim as of December 31, 2023, as there was no significant progress in the litigation during the year[56] - The company assessed that claims related to Patent 2 and Patent 6 lacked merit and were unlikely to result in economic outflows, with potential damages of RMB 365,000 thousand and RMB 130,000 thousand, respectively[56] Market and Industry Trends - Global new energy vehicle sales reached 14.056 million units in 2023, a year-on-year increase of 33.4%, driving the demand for power batteries to 705.5GWh, up 38.6% year-on-year[11] - China's new energy vehicle sales reached 9.495 million units in 2023, with a penetration rate of 31.6%, an increase of 5.9 percentage points from the previous year, and domestic power battery installations reached 387.7GWh, up 31.6% year-on-year[12] - Global energy storage battery shipments reached 225GWh in 2023, a year-on-year increase of 50%, with China accounting for 206GWh, up 58% year-on-year, and domestic companies' global share increased from 86.7% in 2022 to 91.6% in 2023[14] - The company has accumulated over 1.4 million new energy vehicles in the passenger car market, with significant growth in the mid-to-high-end segment and a fourfold increase in hybrid market share[27] - The company's power battery installations ranked among the top three in China, with monthly installations entering the global top four, and achieved breakthroughs in international markets[16] - Commercial vehicle deliveries in international markets doubled, with new projects and deliveries added in Europe, Australia, and Asia[29] - In the passenger vehicle market, the company deepened its domestic market penetration and expanded internationally, supporting the rapid growth of China's new energy vehicle exports[33] - The company is accelerating its internationalization strategy, with high-quality progress in European industrial layout, including the Portugal project, which has received environmental approval and is set for rapid mass production[35] - The company is actively expanding overseas markets, establishing subsidiaries, and building new factories, but faces risks related to geopolitical conflicts, tariffs, and local regulations[153] Corporate Governance and Leadership - Liu Jingyu, the Chairman and CEO of the company, has over 20 years of experience in large enterprise management and has been responsible for the overall strategic planning and operational decision-making of the group since 2018[57][58] - Liu Jingyu has received numerous honors, including being named "Star Entrepreneur" by the Changzhou Municipal Government in February 2024 and "Outstanding Entrepreneur" by the Jintan District Government in 2023[58][59] - Dai Ying, the Executive Director and Senior Vice President, has over 20 years of experience in business management, investment, and financing, and is responsible for the group's investment, financing, and capital operations[60][61] - Zhou Sheng, the Non-Executive Director, has been providing guidance for the overall development of the group since 2015 and currently serves as the Chairman and Legal Representative of Jiangsu Jintan Investment Holding Co., Ltd[62][63] - Mr. Zhang Guoqing has been appointed as a non-executive director since August 13, 2019, and was designated as a non-executive director on December 10, 2021, responsible for providing guidance on the overall development of the group[66] - Mr. Li Yunxiang was appointed as a non-executive director on August 13, 2019, and designated as a non-executive director on December 10, 2021, responsible for guiding the overall development of the group[67] - Mr. Wu Guangquan joined the group as an independent non-executive director on December 25, 2021, providing independent advice and judgment to the board of directors[70] - Mr. Wu Guangquan serves as the chairman of the remuneration committee and is a member of the audit and nomination committees[70] - Mr. Li Yunxiang has been the general manager of Jinyuan Investment since January 2023, overseeing investment management, financial management, and equity direct investment[67] - Mr. Li Yunxiang has been the chairman of Xiamen International Trust Co., Ltd. since January 2023[67] - Mr. Zhang Guoqing has been the employee director and general manager of Jiangsu Jintan Jincheng Technology Industrial Development Co., Ltd. since February 7, 2023[66] - Mr. Li Yunxiang holds multiple positions in Jinyuan Investment and its subsidiaries, including director of Xiamen Bank Co., Ltd. since January 6, 2024[68] - Mr. Wu Guangquan has extensive experience in enterprise management and business development, having served as chairman of AVIC International Holding Corporation from February 2010 to December 2016[71] - Mr. Li Yunxiang was awarded the title of "Top Talent of Xiamen City" by the Xiamen Municipal Government in October 2019[69] - Wu has extensive experience in finance and accounting, having served as General Manager of Jiangxi Jiangnan Trust & Investment Co., Ltd. and Deputy Chief Accountant at AVIC Shenzhen[72] - Wang is an independent non-executive director with rich experience in investment, financing, and corporate management, currently serving as a professor and doctoral supervisor at Southern University of Science and Technology[73] - Chen is an independent non-executive director with extensive experience in corporate finance, dispute resolution, and M&A, currently serving as a senior partner at JunZeJun Law Firm[74] - Chen holds multiple independent director positions, including at Life Insurance Co., Ltd. and Shenzhen Nanshan Power Co., Ltd., and is a qualified lawyer in both Hong Kong and mainland China[75] - Jiang is the Chairman of the Supervisory Committee and a shareholder representative supervisor, currently serving as Chairman and Legal Representative of Jiangsu Jintan Construction Development Co., Ltd[76] - Cheng is a shareholder representative supervisor with extensive experience in finance and corporate governance, currently serving as Director, CFO, and Board Secretary of Chengfei Integration[77] - Cheng holds multiple positions in subsidiaries of Chengfei Integration, including Director of Anhui Jiwen Integrated Body Cover Co., Ltd. and Supervisor of Shanghai Aero Engine Manufacturing Co., Ltd[78] - Cheng has received numerous awards, including the 4A-level Board Secretary award from the Listed Companies Association and the Outstanding Board Secretary Award from the Securities Times[78] - Cheng is a certified Senior International Financial Manager and Senior Economist, holding a bachelor's degree from Northwestern Polytechnical University and an MBA from Southwestern University of Finance and Economics[78] - Nian Mingzhu, 37, serves as the company's employee representative supervisor, responsible for overseeing the duties of directors and senior management. She joined the company in July 2019 and was appointed as a supervisor in September 2020[79] - Nian Mingzhu previously worked at Xiamen Tianma Microelectronics Co., Ltd. from July 2011 to July 2019, holding positions such as fund accountant, asset accountant, and auditor, responsible for daily fund management, asset accounting, and financial audits[80] - Pan Fangfang, 39, joined the company in December 2015 and was appointed as Senior Vice President and Chief Technology Officer in September 2019, responsible for market strategy, product strategy, R&D, and intellectual property. She has over 10 years of experience in battery R&D[81] - Pan Fangfang has received numerous awards, including the Jiangsu Youth May Fourth Medal in May 2023 and the Jiangsu Province March 8th Red Flag Bearer in March 2022[82] - Geng Yan'an, 41, joined the company in July 2018 and was appointed as Senior Vice President in August 2018, responsible for procurement and information technology. He is also the legal representative and general manager of several subsidiaries[83] - Gao Yan, 40, joined the company in April 2020 and was appointed as Senior Vice President, responsible for finance and human resources. She has over 15 years of experience in financial work[84] - Wang Xiaoqiang, 39, joined the company in December 2015 and was appointed as Vice President in November 2021, responsible for manufacturing technology, quality, and energy storage business development[85] - Mr. He was appointed as Vice President of the company after serving as Assistant General Manager from August 2018 to November 2021, primarily responsible for engineering construction[86] - Mr. Xie, Vice President, is responsible for the company's automotive business sales and battery product R&D, with a background in battery pack development and project management[87] - Mr. Xie has received multiple awards for his contributions to lithium-ion battery technology, including the Luoyang Municipal Science and Technology Progress Award (First Prize) in 2016[88] - Ms. Liu Jingyu serves as both Chairman and CEO, focusing on the company's overall strategic planning and operational decision-making[92] - The company adheres to the Corporate Governance Code, with a board structure consisting of 8 directors, including 3 independent non-executive directors[94] - The company's strategic focus includes leading-edge technology, scaling operations, and promoting sustainable industrial development[94] - The board has established specialized committees (Audit, Remuneration, and Nomination) to oversee governance and decision-making processes[94] - The company emphasizes values of sincerity, efficiency, and mutual benefit in its corporate governance practices[94] - The company's mission is to drive the healthy development of the energy industry through innovation and advanced core technologies[93] - The board ensures a balance of power and responsibilities, with independent non-executive directors providing independent judgment[95] - The company has established clear guidelines for matters requiring board approval, including capital, financing, financial reporting, internal controls, shareholder communication, board composition, delegation of authority, and corporate governance[96] - All directors have participated in continuous professional development in 2023, with specific participation details provided for each director[97] - Directors are elected or replaced by shareholders' meetings for a term of three years, with independent directors limited to a maximum of six consecutive years[98] - The company complies with the requirement to appoint at least three independent non-executive directors, with at least one possessing appropriate professional qualifications or accounting/financial management expertise[99] - The board plans to hold at least four regular meetings annually to discuss overall strategy, operations, and financial performance[100] - Board meeting notices and agendas are sent to all directors, supervisors, and the general manager at least 14 days in advance for regular meetings[101] - The company held eight board meetings and six shareholders' meetings during the reporting period, with all directors maintaining a 100% attendance rate[102] - The company's Chairman and CEO roles are held by Ms. Liu Jingyu, which is believed to ensure leadership consistency and efficient strategic planning[103] - The Audit Committee held five meetings during the reporting period, reviewing external auditor findings, audit plans, and risk management[107] - The Audit Committee members had a 100% attendance rate for all five meetings[108] - The Remuneration Committee held two meetings, reviewing compensation policies and assessing director and senior management performance[110] - The Remuneration Committee members had a 100% attendance rate for both meetings[110] - The company's senior management compensation for 2023 included salaries, allowances, equity-settled share-based payments, and retirement benefits[110] - The total remuneration for directors and supervisors in 2022 and 2023 was approximately RMB 31,968,000 and RMB 34,420,000, respectively[113] - The company has a 100% coverage rate for social security contributions for employees[112] - The top five highest-paid individuals' details are disclosed in the consolidated financial statements[113] - The nomination committee held one meeting during the reporting period

证券研究报告 | 公司动态点评 2024 年 04月 07日 中创新航（03931.HK） 动力需求高增，储能业务翻倍，2023 年毛利率增至 13% 财务指标 2022A 2023A 2024E 2025E 2026E 增持（首次评级） 营业收入（百万元） 20,374.94 27,005.89 42,916.67 58,896.48 77,107.63 股票信息 增长率yoy（%） 198.88 32.54 58.92 37.23 30.92 归母净利润（百万元） 691.63 294.38 596.61 931.82 1,207.42 行业 电力设备及新能源 增长率yoy（%） 393.92 -57.44 102.67 56.19 29.58 2024年4月5日收盘价（港元） 12.860 ROE（%） 2.01 0.85 1.69 2.58 3.23 总市值（百万港元） 22,791.80 EPS最新摊薄（元） 0.39 0.17 0.34 0.53 0.68 流通市值（百万港元） 7,866.05 P/E（倍） 34.18 80.31 39.63 25.37 19.58 总股本（百万股） 1,772 ...

Financial Performance - The group's revenue increased by 32.5% from RMB 20,374.94 million for the year ended December 31, 2022, to RMB 27,005.89 million for the year ended December 31, 2023[3]. - Gross profit for the year ended December 31, 2023, was RMB 3,511.52 million, compared to RMB 2,103.52 million in 2022, reflecting a significant increase[4]. - The company's net profit for the year ended December 31, 2023, was RMB 437.16 million, down from RMB 693.54 million in 2022, indicating a decrease of approximately 37%[4]. - Basic earnings per share decreased from RMB 0.4408 in 2022 to RMB 0.1661 in 2023, representing a decline of about 62.4%[4]. - Total revenue for the year was RMB 27,005,885,000, an increase of 32.5% compared to RMB 20,374,942,000 in 2022[20]. - Revenue from sales of power batteries reached RMB 22,249,046,000 in 2023, up from RMB 18,323,505,000 in 2022, representing a growth of 21.5%[20]. - Revenue from energy storage systems and other products surged by 131.9% from RMB 2,051.44 million in 2022 to RMB 4,756.84 million in 2023, due to strategic partnerships with leading customers in the energy storage sector[81]. Cash Flow and Liquidity - Net cash inflow from operating activities rose by 37.5% from RMB 2,109.05 million in 2022 to RMB 2,900.17 million in 2023[3]. - The group's net current liabilities at the end of the reporting period were approximately RMB 4,710 million, with a net cash outflow of about RMB 3,132 million, including a net cash inflow from operating activities of approximately RMB 2,900 million[12]. - As of December 31, 2023, the total cash and bank balances of the group were approximately RMB 7,834 million, while the total outstanding bank loans amounted to approximately RMB 29,171 million, with about RMB 8,115 million due within one year[12]. - The company has sufficient liquidity to meet daily working capital management and capital expenditure needs[87]. Assets and Liabilities - Total assets decreased from RMB 37,359.45 million in 2022 to RMB 32,111.02 million in 2023, indicating a reduction of approximately 14%[7]. - The company's non-current assets increased from RMB 53,101.17 million in 2022 to RMB 73,318.01 million in 2023, reflecting a growth of about 38%[7]. - The total equity of the company rose from RMB 41,575.46 million in 2022 to RMB 46,385.79 million in 2023, an increase of approximately 11%[8]. - Total liabilities rose from RMB 48,885.16 million as of December 31, 2022, to RMB 59,043.24 million as of December 31, 2023, an increase of 20.8%[86]. - The debt-to-equity ratio increased to 47.1% as of December 31, 2023, from 17.7% as of December 31, 2022, primarily due to increased project financing[88]. Research and Development - Research and development expenses increased from RMB 664.76 million in 2022 to RMB 991.96 million in 2023, marking a rise of about 49%[4]. - The company has been granted 3,060 patents and has 1,111 pending patent applications as of December 31, 2023, focusing on high-quality patent layout for continuous innovation[58]. - The company developed a 400Wh/kg high-energy hybrid solid-liquid battery, leading the industry in key safety indicators such as thermal safety and calendar life[59]. Market and Sales - Global sales of new energy vehicles reached 14.056 million units in 2023, a year-on-year increase of 33.4%[46]. - In China, new energy vehicle sales reached 9.495 million units in 2023, up 37.9% year-on-year, with a penetration rate of 31.6%, an increase of 5.9 percentage points from the previous year[47]. - The company aims to enhance its international presence by establishing production capacity in Europe and collaborating with global partners to meet market demands[76]. Compliance and Governance - The audit committee has reviewed the audited consolidated financial statements for the year ending December 31, 2023, confirming compliance with applicable accounting principles and full disclosure[111]. - The company has adopted a standard code of conduct for directors' securities transactions, ensuring compliance throughout the reporting period[110]. - The board of directors has resolved not to recommend a final dividend for the year ending December 31, 2023[104].

中創新航科技集團股份有限公司 2023 中期報告 中創新航科技集團股份有限公司 CALB Group Co., Ltd. 股份代號 : 3931 ( 於中華人民共和國註冊成立的股份有限公司 ) 致力於新能源領域的開拓創新和技術引領， 持續塑造新能源產業健康生態， 為人類能源安全及可持續發展切實履行責任 2023 中期報告 | --- | --- | --- | |------------------------------|-------|-------| | | | | | | | | | | | | | | | | | 目錄 | | | | | | | | | | | | | | | | | | | | 公司資料 | | 2 | | 管理層討論及分析 | | 4 | | | | | | 企業管治及其他資料 | | 22 | | 簡明合併損益表 | | 34 | | | | | | | | 35 | | 簡明合併損益及其他全面收益表 | | | | 簡明合併財務狀況表 | | 36 | | | | | | 簡明合併權益變動表 | | 38 | | 簡明合併現金流量表 | | | | | | 39 | | 簡 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 CALB Group Co., Ltd. 中 創 新 航 科 技 集 團 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3931） 截至2023年6月30日止六個月之中期業績公告 中創新航科技集團股份有限公司（「公司」或「本公司」）董事（「董事」）會（「董事 會」）欣然宣佈本公司及其附屬公司（統稱「本集團」、「中創新航」或「我們」）截至 2023年6月30日止六個月（「報告期」）的未經審計簡明合併中期業績，連同截至 2022年6月30日止六個月的業績比較數字。 財務摘要 本集團收入由截至2022年6月30日止六個月的人民幣9,167.20百萬元增長34.1% 至截至2023年6月30日止六個月的人民幣12,294.71百萬元。 本集團期內利潤由截至2022年6月30日止六個月的人民幣165.70百萬元增長 60.8%至截至2023年6月30日止六個月的人民幣266.49 ...

中創新航科技集團股份有限公司 CALB Group Co., Ltd. 股份代號 : 3931 ( 於中華人民共和國註冊成立的股份有限公司 ) 致力於新能源領域的開拓創新和技術引領， 持續塑造新能源產業健康生態， 為人類能源安全及可持續發展切實履行責任 2022 年度報告 目錄 公司資料2 董事長致辭4 管理層討論及分析6 董事、監事及高級管理層簡介 25 企業管治報告 41 董事會報告 62 獨立核數師報告 80 合併損益表 86 合併損益及其他全面收益表 87 合併財務狀況表 88 合併權益變動表 90 合併現金流量表 92 合併財務報表附註 96 財務摘要 220 定義及詞彙 221 公司資料 非執行董事 獨立非執行董事 註冊辦事處 審計委員會 薪酬委員會 劉靜瑜女士 陳澤桐先生 2 中創新航科技集團股份有限公司 董事會 執行董事 劉靜瑜女士（董事長兼總裁） 戴穎先生 周勝先生 張國慶先生 李雲祥先生 吳光權先生 王蘇生先生 陳澤桐先生 王蘇生先生（主席） 吳光權先生 陳澤桐先生 吳光權先生（主席） 提名委員會 陳澤桐先生（主席） 劉靜瑜女士 吳光權先生 聯席公司秘書 戴穎先生 張啟昌先生（FCCA，C ...