证券代码：600580 证券简称：卧龙电驱 公告编号：2024-055 卧龙电气驱动集团股份有限公司（以下简称"卧龙电驱"或"公司"）于 2024 年 01 月 23 日召开九届四次临时董事会会议，会议审议通过《关于以集中竞价交 易方式回购公司股份方案的议案》，同意公司使用资金总额不低于人民币 5,000 万 元（含 5,000 万元），不超过人民币 10,000 万元（含 10,000 万元）自有资金以集中 竞价交易方式回购公司股份，用于股权激励计划，本次回购股份价格不超过人民 币 16.92 元/股（含 16.92 元/股），回购期限自公司董事会审议通过本次回购方案之 日起不超过 12 个月。 卧龙电气驱动集团股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、 回购股份的基本情况 重要内容提示： 具体内容详见公司分别于 2024 年 01 月 25 日、2024 年 01 月 27 日在上海证券 交易所网站（www.sse.com.cn）披露的《卧龙电驱关于以集 ...

[Table_Main] 公司研究|工业|资本货物 证券研究报告 卧龙电驱(600580)公司首次覆盖 报告 2024 年 06 月 28 日 ——卧龙电驱(600580.SH)公司首次覆盖报告 全球主要的电机与驱动专业制造商，深耕电机 40 年 公司创建于 1984 年，以技术创新、数字化赋能为引领，致力于向全球用户 提供安全、高效、智能、绿色的电机动力系统解决方案。 低空政策利好不断，低空经济有望迎来快速发展 自 2024 年两会将低空经济定调为新增长引擎，工信部、科技部、财政部、 民航局在《通用航空装备创新应用实施方案（2024-2030 年）》提出，到 2030 年低空经济增长为万亿级市场规模，省市地方政府系列低空经济高质量发 展规划相继出台，低空经济的重要性被反复提及，相关政策的出台为低空经 济的发展奠定了坚实的基础。 电动航空先锋，优先卡位低空 公司自 2019 年开始致力于城市空运、救援、物流领域内的先进电机及驱动 产品的研发与产业化，在航空电驱动及控制领域处于国际领先水平。同时公 司与中国民航科学技术研究院共建"联合实验室"，积极参与并推动航空电 动力系统相关标准制定，有利于树立适航审定壁垒， ...

证券代码：600580 证券简称：卧龙电驱 公告编号：临 2024-054 卧龙电气驱动集团股份有限公司 关于 2023 年员工持股计划购买完成的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 卧龙电气驱动集团股份有限公司（以下简称"公司"或"卧龙电驱"）于 2024 年 04 月 25 日召开了九届六次董事会会议，审议通过了《关于提取 2023 年 员工持股计划奖励基金的议案》，根据公司 2021 年第二次临时股东大会授权， 该议案无需提交股东大会审议。按照《公司 2021 年至 2023 年员工持股计划》等 规定，公司提取 2023 年员工持股计划奖励基金总额为 1,004.44 万元，资金将全 部用于二级市场购买并持有卧龙电驱股票。 根据中国证监会《关于上市公司实施员工持股计划试点的指导意见》及《上 海证券交易所上市公司自律监管指引第 1 号——规范运作》的要求，现将公司 2023 年员工持股计划实施进展公告如下： 截至 2024 年 06 月 27 日，公司 2023 年员工持股计划已通过二级市场完成卧 龙电驱股 ...

(四) 报告期内对高级管理人员的考评机制，以及激励机制的建立、实施情况 √适用 □不适用 公司依据年初制定的全年经营工作目标，根据各高级管理人员职责和分管的管理目标，分别 按季度和年度对高级管理人员进行监察和考核。 √适用 □不适用 公司董事会根据内部控制制度和评价办法，在内部控制日常监督和专项监督的基础上，对公 司 2022 年 12 月 31 日（内部控制评价报告基准日）的内部控制有效性进行了评价，形成了内部控 制自我评价报告。根据公司财务报告内部控制重大缺陷的认定情况，于内部控制评价报告基准日， 不存在财务报告内部控制重大缺陷，董事会认为，公司已按照企业内部控制规范体系和相关规定 的要求在所有重大方面保持了有效的财务报告内部控制。《2022 年度内部控制评价报告》公布于 2023 年 04 月 29 日上海证券交易所网站（www.sse.com.cn）。 报告期内部控制存在重大缺陷情况的说明 □适用 √不适用 45 / 266 2022 年年度报告 十三、 报告期内对子公司的管理控制情况 √适用 □不适用 报告期内，公司严格按照《公司法》、《公司章程》等相关法律法规与规章制度的规定，对 子公司实施管理控 ...

2023 年年度报告 2023 年年度报告 三、 信永中和会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 六、 前瞻性陈述的风险声明 否 九、 是否存在半数以上董事无法保证公司所披露年度报告的真实性、准确性和完整性 公司已在本报告中详细描述可能存在的相关风险，敬请查阅第三节管理层讨论与分析中关于 公司未来发展的讨论中可能面对的风险因素及对策部分的内容。 WOLONG 卧龙 | --- | --- | |--------------|-----------------------------------------------------------------------------------------| | | | | | 载有公司负责人、主管会计工作负责人、会计机构负责人(会计主管 人员）签名并盖章的财务报表: | | 备查文件目录 | 二、载有会计师事务所盖章、注册会计师签名并盖章的审计报告原件; | | | 三、报告期内公开披露过的所有公司文件的正本及公告的原稿。 | 一、 释义 2023 年年度报告 报告期末公司前三年主要会计数据和财务指标的说明 □适用 √不适用 2023 ...

| --- | --- | --- | |----------|-----------------------------------------|-----------------------------------------| | | 董事会秘书 | 证券事务代表 | | 姓名 | 吴剑波 | 李赛凤 | | 联系地址 | 浙江省绍兴市上虞区人民大道 西段 1801 号 | 浙江省绍兴市上虞区人民大道 西段 1801 号 | | 电话 | 0575-82176628 | 0575-82176629 | | 传真 | 0575-82176636 | 0575-82176636 | | 电子信箱 | wolong600580@wolong.com | lisaifeng@wolong.com | | --- | |-------------------------------------| | | | 四、 信息披露及备置地点变更情况简介 | | 公司选定的信息披露报纸名称 | | 登载半年度报告的网站地址 | | 公司半年度报告备置地点 | | 报告期内变更情况查询索引 | 六、 其他有关资料 2023 ...

Share Issuance and Capital Changes - The company issued 422,798,480 shares at a price of 4.20 yuan per share, increasing the registered capital to 1,110,527,236 yuan[8] - In 2015, the company issued 178,372,350 shares at 8.97 yuan per share, raising the registered capital to 1,288,899,586 yuan[8] - In 2018, the company granted 4.51 million restricted shares to 29 incentive targets at 4.79 yuan per share, increasing the registered capital by 4,510,000 yuan[8] - The company repurchased and canceled 250,000 restricted shares in 2019, reducing the registered capital by 250,000 yuan[8] - In 2019, the company received 8,052,000 yuan in new registered capital from 215 incentive targets, increasing the total registered capital to 1,301,211,586 yuan[8] - In 2020, the company received 6,731,000 yuan in new registered capital from incentive targets, raising the total registered capital to 1,307,942,586 yuan[8] - In 2021, the company received 976,000 yuan in new registered capital from incentive targets, increasing the total registered capital to 1,308,918,586 yuan[8] - In 2021, the company received 6,434,000 yuan in new registered capital from incentive targets, raising the total registered capital to 1,315,352,586 yuan[8] - The company received 73,348,800 yuan from the first grant of restricted stock in 2021, with the total registered capital remaining at 1,315,262,586 yuan[9] Financial Reporting and Accounting Policies - The company's financial statements are prepared in accordance with the "Enterprise Accounting Standards" and the relevant regulations of the China Securities Regulatory Commission[11] - The company's fiscal year runs from January 1 to December 31[13] - The company's consolidated financial statements include all subsidiaries, with adjustments made for non-uniform accounting policies and periods[15] - The company's consolidated financial statements reflect the financial position, operating results, and cash flows of the entire group, using uniform accounting policies[15] - The company's consolidated financial statements include adjustments for non-controlling interests, with minority shareholders' shares separately listed in the consolidated balance sheet and income statement[15] - The company's consolidated financial statements are prepared based on the financial statements of the company and its subsidiaries, with necessary adjustments for non-uniform accounting policies and periods[15] - The company's audit report was issued by ShineWing Certified Public Accountants with an unqualified opinion[37] - The company's internal control audit report, issued by ShineWing Certified Public Accountants, received a standard unqualified opinion and was published on the Shanghai Stock Exchange website on April 30, 2022[42] Business Operations and Market Focus - The company's main business includes R&D, manufacturing, sales, and installation of motors, generators, drives, and other electrical equipment[9] - The company is actively promoting the upgrade of high-efficiency and energy-saving motor products, targeting industries such as marine, electric aviation, new energy vehicles, and e-bikes[21] - The company is committed to green production, reducing emissions, and controlling pollution, contributing to environmental improvement[21] - The company's overall operating performance remained stable, with significant year-on-year growth in revenue from motor and control businesses, and maintained profitability at a normal level[110] - The company achieved breakthroughs in the new energy vehicle sector, securing key clients such as XPeng, Geely, Wuling, and Vitesco, and expanded business with leading manufacturers in the commercial vehicle sector like Yutong, Sany, Weichai, and Geely Commercial[110] - The company secured its first batch of orders in the electric aviation sector, signed product development agreements with several high-quality industry enterprises, and led the drafting of airworthiness standards for electric aircraft propulsion systems[110] - The company plans to focus on digital transformation and low-carbon trends in 2022, aiming to shift from motor manufacturing to providing motor power system solutions and full lifecycle service solutions[110] - The company will actively develop a product matrix for green transportation, industrial, life, and energy sectors, emphasizing high-efficiency, low-carbon products and technologies[110] - The company implemented a digital transformation strategy focusing on "factory digitization" and "management digitization"[96] Financial Performance and Metrics - Total revenue for Q1 2021 was 2,988,140,630.85 yuan, Q2 was 3,756,031,132.38 yuan, Q3 was 3,733,479,419.87 yuan, and Q4 was 3,220,056,560.68 yuan[77] - Net profit attributable to shareholders in Q1 2021 was 131,601,741.27 yuan, Q2 was 287,007,363.25 yuan, Q3 was 250,608,871.36 yuan, and Q4 was 318,598,355.14 yuan[77] - Non-recurring net profit attributable to shareholders in Q1 2021 was 129,795,901.69 yuan, Q2 was 220,066,184.57 yuan, Q3 was 203,311,014.76 yuan, and Q4 was -112,563,451.96 yuan[77] - Revenue for 2021 reached RMB 13,697,707,743.78, a 9.01% increase compared to 2020[102] - Net profit attributable to shareholders was RMB 987,816,331.02, up 13.96% year-over-year[102] - Operating cash flow increased by 20.90% to RMB 1,480,317,913.96 in 2021[102] - Basic earnings per share rose 14.15% to RMB 0.7593 in 2021[102] - Non-recurring net profit attributable to shareholders decreased by 34.39% to RMB 440,609,649.06[102] - Total assets grew by 5.74% to RMB 22,012,647,245.40 at the end of 2021[102] - Weighted average ROE increased by 0.63 percentage points to 12.51% in 2021[102] - Revenue increased by 9.01% to RMB 13,697,707,743.78 in 2021 compared to the previous year[126] - Industrial motor and drive segment revenue grew by 6.62% to RMB 7,886,772,193.17, with a gross margin decrease of 2.06 percentage points[127] - Daily-use motor and control segment revenue surged by 27.87% to RMB 3,594,545,191.56, with a slight gross margin increase of 0.04 percentage points[127] - Electric transportation segment revenue soared by 76.59% to RMB 667,975,098.29, but gross margin decreased by 1.35 percentage points[127] - R&D expenses increased significantly by 28.33% to RMB 514,695,902.53 in 2021[126] - Operating cash flow increased by 20.90% to RMB 1,480,317,913.96 due to enhanced cash flow management[138] - The company achieved operating revenue of 13.698 billion yuan, a year-on-year increase of 9.01%, and net profit attributable to the parent company of 988 million yuan, a year-on-year increase of 13.96%[141] - Net cash flow from operating activities was 1.48 billion yuan, a year-on-year increase of 20.90%[141] - Revenue for the year reached 13.698 billion yuan, an increase of 1.133 billion yuan compared to the previous year, representing a growth of 9.01%[158] - Operating costs for the year amounted to 10.531 billion yuan, an increase of 1.039 billion yuan compared to the previous year, representing a growth of 10.95%[158] - R&D expenses increased by 28.33% to 514.7 million yuan, driven by increased investment in R&D[161] - Total R&D investment reached 787.7 million yuan, accounting for 5.75% of total revenue, with 39.98% of R&D investment being capitalized[161] - The company plans to achieve 16.078 billion yuan in revenue and 1.205 billion yuan in net profit attributable to parent company owners in 2022[176] Subsidiaries and Investments - The company has subsidiaries including SIR S.p.A, Wolong Electric Nanyang Explosion Protection Group, and Wolong Electric Group Liaoning Rongxin Electric Drive[39] - The company follows specific accounting treatments for adding or disposing of subsidiaries, including adjustments to consolidated financial statements and recognition of gains or losses[41] - The company established a joint venture, Shunyun Interconnection, in September 2021, holding 60% indirect control[132] - The company completed the transfer of 100% equity of Hangzhou Research Institute for 415 million yuan[144] - The company established several new subsidiaries in 2021 focusing on photovoltaic power generation and motor industry-related businesses[183] - Nanyang Explosion-proof Motor Group, a wholly-owned subsidiary, achieved 3.528 billion yuan in revenue and 851.8592 million yuan in net profit[184] Environmental and Social Responsibility - The company's subsidiary, Wolong Lighthouse, achieved a 100% compliance rate for waste gas and wastewater emissions, with an environmental equipment downtime rate of ≤5% and an inspection pass rate of ≥95%[45] - Wolong Lighthouse reported a blood lead abnormality rate of ≤2.5% and a blood lead exceedance rate of ≤1% for occupational health[45] - The company's environmental facilities operate normally, with emissions meeting the "Battery Industry Pollutant Emission Standards" GB30484-2013[46] - Wolong Lighthouse conducts third-party environmental emission index testing monthly, with all data meeting standards, and has an online monitoring system for wastewater emissions[45] - The company's environmental protection facilities were installed in all pollutant-generating processes, with regular maintenance ensuring compliance with emission standards[46] - Wolong Lighthouse completed an environmental impact assessment for a project producing 420,000 high-power UPS power supplies, 400,000 communication sealed power supplies, and 400,000 sealed maintenance-free automotive batteries in May 2008[47] Financial Liabilities and Assets - The company's financial liabilities are classified at initial recognition as either measured at fair value through profit or loss or measured at amortized cost[18] - Financial liabilities can be designated as measured at fair value through profit or loss if the designation eliminates or significantly reduces accounting mismatch[35] - Financial assets measured at amortized cost include notes receivable, accounts receivable, and long-term receivables, initially measured at fair value with transaction costs included in the initial recognition amount[35] - Financial assets measured at fair value through other comprehensive income (debt instruments) include receivables financing and other debt investments, with fair value changes recognized in other comprehensive income[35] - Financial assets measured at fair value through other comprehensive income (equity instruments) include other equity investments, with fair value changes recognized in other comprehensive income[35] - Financial assets measured at fair value through profit or loss include trading financial assets and derivative financial assets, with fair value changes recognized in profit or loss[35] - Financial liabilities measured at fair value through profit or loss include trading financial liabilities and derivative financial liabilities, with fair value changes recognized in profit or loss[35] - Long-term loans decreased by 39.14% to 1.8 billion yuan, reflecting improved financial management[165] - Restricted assets at the end of the reporting period totaled 2,168,453,366.24 yuan, a slight decrease from 2,184,001,202.02 yuan at the beginning of the period[166] - Pledged accounts receivable increased to 198,943,852.70 yuan from 115,853,969.25 yuan, a 71.7% increase[166] - Pledged long-term equity investments rose to 361,500,000.00 yuan from 330,000,000.00 yuan, up 9.5%[166] - Mortgaged assets decreased to 930,548,484.71 yuan from 1,088,428,394.02 yuan, down 14.5%[166] - Restricted cash increased to 279,783,449.27 yuan from 232,056,531.85 yuan, up 20.6%[166] - Prepayments decreased by 40.0% to 271,827,936.80 yuan from 453,078,884.33 yuan[180] - Intangible assets increased by 299.80 million yuan, primarily due to internal R&D contributions of 210.98 million yuan[192] - Prepayments decreased mainly due to a reduction in prepaid material costs[189] - Other receivables increased due to the addition of receivables from the disposal of old factory premises in Nanyang[189] - Development expenditure rose as a result of increased R&D investment[189] - Long-term loans decreased due to the company's efforts to reduce loan scale[189] - Minority shareholders' equity increased due to higher profits from subsidiaries and additional investments by minority shareholders[189] - Investment properties decreased following the sale of equity in Hangzhou Research Institute[189] - Other non-current financial assets increased due to a rise in the fair value of the company's non-current financial assets[189] Market and Industry Trends - The global water pump market size was approximately RMB 415.9 billion in 2021, with a projected CAGR of 4.5% from 2022 to 2028[97] - The global low-voltage motor market for pumps was approximately $3.5 billion in 2020, accounting for 30% of the total low-voltage motor market[114] - The global low-voltage motor market for fans was $2.46 billion in 2020, with a projected CAGR of 4% through 2025[114] - The global market for air compressors and refrigeration compressors was nearly $70 billion in 2021, with low-voltage motors for compressors accounting for $2.6 billion, or 22% of the total low-voltage motor market[114] - China's coal production reached a record high of 4.07 billion tons in 2021, a 4.7% increase year-on-year, with further significant growth expected in 2022[115] - The global oil and chemical industry achieved a record profit of $1.16 trillion in 2021, with a profit margin of 8.03%, the highest in nearly a decade[115] - Global air conditioner production reached 185 million units in 2021, with China accounting for 83.2% of the market share[147] - The global electric tool market size was approximately 30.7 billion USD in 2020, with a projected CAGR of 4.2% to reach 40.9 billion USD by 2027[147] - China's new energy vehicle sales reached 3.5 million units in 2021, a year-on-year increase of 159%, with domestic sales accounting for 3.15 million units, a year-on-year increase of 179%[148] - The domestic market for new energy vehicles is expected to exceed 5 million units in 2022, with local demand estimated at 4.7-4.8 million units and exports exceeding 300,000 units[148] Corporate Governance and Internal Controls - The company's subsidiaries are managed and controlled in accordance with the "Company Law" and the company's articles of association, with a focus on improving governance and operational efficiency[28] - The company does not have any significant risk disclosures or violations of decision-making procedures for external guarantees[38] - The company's internal control system was evaluated as effective, with no significant deficiencies in financial reporting internal controls as of December 31, 2021[57] - The company's senior management was granted a total of 830,000 restricted shares during the reporting period, with an exercise price of RMB 7.40 per share[55] - The company's cash dividend policy is clearly defined in the Articles of Association, with no adjustments made during the reporting period[51] - The company plans to distribute a cash dividend of 1.5 yuan per 10 shares (tax included) based on the total share capital after deducting shares held in the repurchase account as of the 2021 profit distribution record date[61] Production and Sales Metrics - The production volume of industrial motors and drives was 2.883 million kW, with a year-on-year increase of 1.48%, and sales volume was 2.840 million kW, with a year-on-year increase of 3.50%[143] - The production volume of daily-use motors and controls was 5.831 million units, with a year-on-year increase of 8.43%, and sales volume was 5.891 million units, with a year-on-year increase of 6.67%[143] - The production volume of electric transportation products was 677,000 kW, with a year-on-year increase of 46.85%, and sales volume was 673,000 kW, with a year-on-year increase of 61.00%[143] R&D and Innovation - The company has 1,583 R&D personnel, accounting for 10.70% of the total workforce[162] - The company has established R&D centers in China, Europe, and Japan, and a central research institute in Shanghai, focusing on leading technologies in motor and control fields[157] - The company's motor and control business has a significant competitive advantage, with global leadership in high-voltage drive solutions, new energy vehicle drive motors, and high-end home motors[157] Supply Chain and Procurement - Raw material costs for industrial motors and drives accounted for 75.55% of total costs, up 1.89 percentage points from the previous year[129] - The company's top five suppliers accounted for 24.44% of total annual procurement, with no related party transactions[160] - Top 5 customers sales amounted to 1,599.14 million yuan, accounting for 11.67% of total annual sales, with no related party sales[187] Global Market Presence - The company's revenue in the Americas region grew by 24.67% to RMB 1,547,558,447.84, but gross margin decreased by 3.13 percentage points[127] - The company's revenue in the Asia-Pacific region (excluding China) increased by 14.32% to RMB 1,009,827,349.32, with a gross margin decrease of 2.45 percentage points[127] - The company's global sales network covers China, Asia-Pacific, Europe, and the Americas, with strong brand influence and market competitiveness[157] - Overseas assets totaled 5,994.91 million yuan, representing 27.23%

证券代码：600580 证券简称：卧龙电驱 2023 年第三季度报告 重要内容提示： 2023 年第三季度报告 (一)主要会计数据和财务指标 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------|-----------------------------------|-------------------|------------------|------------------------------------------------|------------------------------------------|-------------------|----------------------------------|----------------------------------------------------| | 项目 | 本报告期 | 上年同期 \n调整前 | 调整后 | 本报告期比上年同 期增减变动幅度 (%) \n调整后 ...

证券代码：600580 证券简称：卧龙电驱 公告编号：临 2024-053 卧龙电气驱动集团股份有限公司 关于上海证券交易所对公司 2023 年年度报告信息披 露监管工作函的回复公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 卧龙电气驱动集团股份有限公司（以下简称"公司"或"卧龙电驱"）于近 日收到上海证券交易所上市公司管理一部的《关于卧龙电气驱动集团股份有限公 司 2023 年年度报告的信息披露监管工作函》（上证公函【2024】0638 号）（以 下简称"监管工作函"）。公司及年审会计师已对监管工作函中需要公司说明的 事项进行了逐项核实，现回复说明如下： 一、关于长期股权投资。年报及相关公告显示，2023 年第四季度，公司对 持有的红相股份有限公司（以下简称红相股份）股份计提资产减值损失 2.11 亿 元，确认应付红相股份业绩补偿款形成投资亏损 1.86 亿元，上述事项对公司当 期利润影响较大。关注到，前期红相股份以发行股份及支付现金方式购买公司持 有的银川变压器公司股权，并约定银川变压器公司 2017-2019 年业 ...

本次会议的召集、召开符合有关法律、行政法规、部门规章、规范性文件和 《公司章程》的规定，表决形成的决议合法、有效。 二、董事会会议审议情况 （一）审议通过《关于前期差错更正及追溯调整的议案》 表决情况：同意 9 票，反对 0 票，弃权 0 票。 证券代码：600580 证券简称：卧龙电驱 公告编号：临 2024-050 卧龙电气驱动集团股份有限公司 九届七次临时董事会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 卧龙电气驱动集团股份有限公司（以下简称"公司"或"卧龙电驱"）九届 七次临时董事会会议于 2024 年 06 月 25 日以通讯表决方式召开。本次会议的会 议通知和材料已于 2024 年 06 月 24 日分别以专人送达、电子邮件或传真等方式 发出。本次会议为紧急会议，经全体董事一致同意豁免会议通知期限要求，与会 的各位董事已知悉与所议事项相关的必要信息。公司现有董事 9 人，参会董事 9 人。公司监事会成员、高级管理人员列席了会议。 特此公告。 卧龙电气驱动集团股份有限公司 董事会 ...