| --- | --- | --- | |----------|-----------------------------------------|-----------------------------------------| | | 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%

Financial Performance - The operating revenue for Q3 2023 was CNY 4,252,466,364.90, representing a 4.77% increase compared to CNY 4,058,773,003.68 in the same period last year[4]. - The net profit attributable to shareholders was CNY 318,815,372.07, an increase of 11.82% from CNY 285,100,672.05 year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 218,040,631.43, a decrease of 17.67% compared to CNY 264,822,496.73 in the previous year[4]. - The basic earnings per share for the period was CNY 0.2444, up 11.34% from CNY 0.2195 in the same quarter last year[4]. - The diluted earnings per share was CNY 0.2446, reflecting an increase of 11.79% from CNY 0.2188 year-on-year[4]. - Operating profit for the third quarter of 2023 was ¥1,124,851,374.16, up from ¥967,603,831.54 in the same quarter of 2022, reflecting a growth of approximately 16.2%[32]. - The company reported a net profit of CNY 152,706,665.91 for the first three quarters of 2023, compared to CNY 119,656,695.06 in 2022, representing a growth of 27.63%[53]. - The total comprehensive income for the first three quarters of 2023 was CNY 1,040,378,909.38, up from CNY 903,512,326.76 in the same period last year, reflecting an increase of 15.16%[53]. - The basic earnings per share for the first three quarters of 2023 was CNY 0.7089, compared to CNY 0.6034 in 2022, marking an increase of 17.53%[53]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 25,506,523,612.80, an increase of 8.69% from CNY 23,445,635,135.20 at the end of the previous year[4]. - The equity attributable to shareholders was CNY 9,817,539,044.27, up 9.20% from CNY 8,990,156,637.35 at the end of the previous year[4]. - The company's total liabilities amounted to ¥14,373,706,657.44 as of September 30, 2023, compared to ¥13,324,817,875.02 at the end of 2022, indicating an increase of about 7.9%[30]. - Long-term borrowings increased to ¥3,787,559,013.29 as of September 30, 2023, compared to ¥2,839,080,006.06 at the end of 2022, indicating a rise of about 33.4%[30]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 904,596,502.01, an increase of 28.64% compared to CNY 703,188,256.01 in the same period last year[4]. - The cash inflow from operating activities for the first three quarters of 2023 was CNY 11,010,890,767.48, an increase of 12.76% compared to CNY 9,763,142,025.46 in the same period of 2022[51]. - The cash and cash equivalents at the end of the period increased to CNY 2,684,385,164.05 from CNY 2,255,758,845.27, a rise of 18.93%[51]. - The total cash outflow from investment activities was CNY 894,815,269.61, compared to CNY 723,486,333.43 in the same period last year, indicating an increase of 23.66%[51]. - The net cash flow from financing activities was CNY -37,784,526.47, an improvement from CNY -44,833,412.43 in the previous year[51]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 71,068[24]. - The largest shareholder, Zhejiang Wolong Shunyu Investment Co., Ltd., holds 422,798,480 shares, accounting for 32.24% of total shares[24]. Current Assets - As of September 30, 2023, the company's cash and cash equivalents amount to RMB 2,881,684,925.54, an increase from RMB 2,305,038,965.91 at the end of 2022, representing a growth of approximately 25%[27]. - Accounts receivable increased to RMB 5,049,594,319.75 from RMB 4,478,300,544.04, reflecting a growth of about 12.8% year-over-year[27]. - Inventory as of September 30, 2023, stands at RMB 3,528,651,829.23, up from RMB 3,267,698,088.41, indicating an increase of approximately 8%[27]. - The total current assets have risen to RMB 13,979,078,487.51 from RMB 12,550,992,187.42, marking an increase of about 11.4%[27]. Investments and R&D - The company’s long-term equity investments decreased to RMB 877,696,381.15 from RMB 1,189,898,658.20, a decline of approximately 26.2%[27]. - Research and development expenses for the first three quarters of 2023 were ¥411,581,602.08, compared to ¥386,432,522.31 in the same period of 2022, reflecting an increase of approximately 6.5%[32]. Future Outlook - The company has not disclosed any new product or technology developments during the reporting period[28]. - There are no significant mergers or acquisitions reported in the latest financial results[28]. - The company has not provided specific future guidance or market expansion strategies in the conference call[28].

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 ...

重要内容提示： 证券代码：600580 证券简称：卧龙电驱 公告编号：临 2024- 052 卧龙电气驱动集团股份有限公司 关于前期差错更正及追溯调整的公告 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。 本次前期会计差错更正仅影响公司 2021 年度、2022 年度、2023 年半年 度及 2023 年第三季度合并利润表，主要涉及营业收入及营业成本科目，不影响 合并资产负债表、合并现金流量表及母公司财务报表列报。 本次前期会计差错更正，将对公司 2023 年第三季度报告、2023 年半年 度报告、2022 年年度报告、2021 年年度报告中营业收入和营业成本分别同时调 减 356,446,414.61 元、105,093,714.32 元、732,087,529.67 元、301,450,856.94 元。 不会导致公司已披露的定期报告出现盈亏性质的改变。 卧龙电气驱动集团股份有限公司（以下简称"卧龙电驱"、"公司"）于 2024 年 06 月 25 日召开九届七次临时董事会会议和九届五次监事会会议，审议通过了 《关于前期差 ...

关于卧龙电气驱动集团股份有限公司 审核报告 前期差错更正专项说明的 | 索引 | 页码 | | --- | --- | | 专项审核报告 | 1-2 | | 前期差错更正专项说明 | 1-2 | 关于卧龙电气驱动集团股份有限公司 前期差错更正专项说明的审核报告 XYZH/2024SZAA6B0253 卧龙电气驱动集团股份有限公司 卧龙电气驱动集团股份有限公司全体股东： 我们接受委托，审核了后附的卧龙电气驱动集团股份有限公司(以下简称"卧龙电 驱")管理层编制的《卧龙电气驱动集团股份有限公司前期差错更正专项说明》（以下 简称"专项说明"）。 一、 管理层的责任 我们相信，我们的审核工作为发表审核意见提供了合理的基础。 三、 审核结论 我们认为，卧龙电驱编制的专项说明已按照《企业会计准则第28号—会计政策、会 计估计变更和差错更正》及中国证券监督管理委员会《公开发行证券的公司信息披露编 制规则第19号—财务信息的更正及相关披露》等相关规定编制，如实反映了前期差错的 更正情况。 1 专项说明（续） XYZH/2024SZAA6B0253 卧龙电气驱动集团股份有限公司 四、分发和使用的限制 本审核报告仅供卧龙电驱披露 ...

关于卧龙电气驱动集团股份有限公司 2023 年年报监管工作函回复 信永中和会计师事务所(特殊普通合伙) 二〇二四年六月 年度报告的信息披露监管工作函的回复 | 信永中和会计师事务所 北京市东城区朝阳门北大街 联系电话： +66 (010) 6554 2288 | | | | --- | --- | --- | | telephone: +86 (010) 6554 2288 | 8 号富华大厦 A 座 9 层 | | | ShineWing | 9/F, Block A, Fu Hua Mansion, | | | No.8, Chaoyangmen Beidajie, | | | | +86 (010) 6554 7190 | Dongcheng District, Beijing, 传真: | | | certified public accountants 100027, P.R.China | | facsimile: +86 (010) 6554 7190 | 关于卧龙电气驱动集团股份有限公司 2023 年 XYZH/2024SZAA6F0013 卧龙电气驱动集团股份有限公司 上海证券交易所： 我们 ...

证券代码：600580 证券简称：卧龙电驱 公告编号：临 2024-051 卧龙电气驱动集团股份有限公司 九届五次监事会决议公告 本公司监事会及全体监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、监事会会议召开情况 表决情况：同意 3 票，反对 0 票，弃权 0 票。 具体内容详见刊登于《中国证券报》《上海证券报》和上海证券交易所网站 （http://www.sse.com.cn）的《卧龙电驱关于前期差错更正及追溯调整的公告》。 特此公告。 卧龙电气驱动集团股份有限公司 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 五次监事会会议于 2024 年 06 月 25 日在浙江省绍兴市上虞区人民大道西段 1801 号公司会议室以现场表决方式召开。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， 经全体监事一致同意豁免会议通知期限要求，与会的各位监事已知悉与所议事项 相关的必要信息。会议由监事会主席赵建良主持，会议应到监事 3 人，实到监事 3 人。 ...

Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [11]. Core Insights - The company, established in 1984, specializes in motor and control systems, achieving a global leading position in various sectors such as high-voltage drive solutions and electric motors for new energy vehicles. It is expected to benefit from dual policy incentives in 2024, including equipment replacement and the emergence of flying cars [6][12]. - The projected net profits for 2024-2026 are estimated at 1.142 billion, 1.334 billion, and 1.544 billion yuan, respectively, with corresponding P/E ratios of 15.3, 13.1, and 11.3 times [6][8]. Summary by Sections Company Overview - The company has a comprehensive product line in the motor industry, with a focus on high-efficiency and energy-saving designs. It operates 39 manufacturing plants and 4 R&D centers globally [18][39]. Financial Performance - The company's revenue has shown steady growth, increasing from 5.14 billion yuan in 2004 to 14.998 billion yuan in 2022, with a CAGR of approximately 20.6%. In 2023, revenue reached 15.567 billion yuan, a year-on-year increase of 3.8% [43][46]. - The net profit for 2023 was 530 million yuan, down 33.7% year-on-year, primarily due to investment losses [8][29]. Industrial Motor Business - The company is expected to benefit from the upcoming equipment replacement cycle in 2024, with its products leading the industry in energy efficiency. Recent government policies encourage the replacement of energy-consuming equipment [4][34]. - The industrial motor segment has shown stable growth, with revenue from this sector increasing from 50.29 billion yuan in 2016 to 96.45 billion yuan in 2023 [46][72]. Aviation Motor Sector - The year 2024 is anticipated to be a pivotal year for the low-altitude economy, with the company positioned to capitalize on the flying car market. It has established strategic partnerships and has been involved in setting aviation motor standards [13][76]. - The company is recognized as a leading enterprise in the low-altitude economy, having developed a high-power aviation electric propulsion system that has passed expert evaluation [63][81]. Future Growth Drivers - The company is expanding its EV motor and energy storage business, which is expected to become a new growth engine. It has secured substantial orders in the new energy vehicle sector, totaling approximately 8.64 billion yuan [22][83].