| 股票代码:601012 | 股票简称:隆基绿能 | 公告编号: | 临 | 2024-112 | 号 | | --- | --- | --- | --- | --- | --- | | 债券代码:113053 | 债券简称：隆 22 转债 | | | | | 隆基绿能科技股份有限公司 关于全资子公司吸收合并暨变更部分募投项目实施主体的公告 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。 隆基绿能科技股份有限公司（以下简称 "隆基绿能" 或"公司"）于2024 年12月10日召开第五届董事会2024年第十二次会议和第五届监事会2024年第七 次会议，审议通过了《关于全资子公司吸收合并暨变更部分募投项目实施主体的 议案》，同意公司全资子公司隆基乐叶光伏科技有限公司（以下简称"隆基乐叶"） 吸收合并全资子公司陕西隆基乐叶光伏科技有限公司（以下简称"陕西乐叶"）。 吸收合并完成后，隆基乐叶继续存续，陕西乐叶法人主体资格将依法予以注 销，陕西乐叶全部资产、债务、人员和业务由隆基乐叶新设分公司并依法承接。 因此，公司2019年度可转换 ...

预计担保金额：预计2025年公司为全资子公司提供担保、全资子公司间 互相担保、全资公司为公司提供担保的新增额度合计不超过500亿元人民币，实 际担保金额以最终签署并执行的担保合同或银行批复为准。截至2024年11月30日， 公司对全资子公司及全资子公司间的担保金额为240.36亿元（外币担保金额根据 2024年11月30日汇率折算为人民币）。 风险提示：本次担保额度预计的担保对象包括最近一期资产负债率超 过70%的公司，预计担保额度超过公司最近一期经审计净资产50%，敬请投资者 注意相关风险。 | 股票代码:601012 | 股票简称:隆基绿能 | 公告编号:临 | 2024-114 | 号 | | --- | --- | --- | --- | --- | | 债券代码:113053 | 债券简称:隆 22 转债 | | | | 隆基绿能科技股份有限公司 关于 2025 年公司及全资子公司间担保额度预计的公告 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。 重要内容提示： 被担保人：隆基绿能科技股份有限公司（以下简称"公司" ...

| 股票代码:601012 | 股票简称:隆基绿能 | 公告编号:临 | 2024-110 | 号 | | --- | --- | --- | --- | --- | | 债券代码:113053 | 债券简称:隆 22 转债 | | | | 隆基绿能科技股份有限公司 关于变更 2024 年度会计师事务所的公告 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。 重要内容提示： 拟聘任的会计师事务所名称：毕马威华振会计师事务所（特殊普通合伙） （以下简称"毕马威华振"） 原聘任的会计师事务所名称：普华永道中天会计师事务所（特殊普通合 伙）（以下简称"普华永道中天"） 变更会计师事务所的简要原因及前任会计师的异议情况：综合考虑市场 信息，基于审慎性原则并结合 2024 年度审计工作的需要，隆基绿能科技股份有 限公司（以下简称"公司"）拟改聘毕马威华振为公司提供 2024 年度的审计服务。 公司已就变更会计师事务所相关事项与普华永道中天进行了充分沟通，普华永道 中天对变更事宜无异议。 一、拟聘任会计师事务所的基本情况 （一）机构信息 1 ...

被担保人：隆基绿能科技股份有限公司（以下简称"公司"）的全资子 公司。 提供担保金额：近期公司及子公司间发生新增担保金额合计人民币 76,631.46万元（外币担保金额根据2024年11月30日汇率折算为人民币，如无特 别说明，本公告中金额币种均为人民币）。 截至2024年11月30日，公司及子公司已提供的担保金额累计为253.99亿元， 占公司最近一期经审计归母净资产36.03%。其中：公司及合并报表范围内子公司 之间的担保金额为250.49亿元，公司及子公司对外提供担保金额为3.51亿元。 是否有反担保：本次新增担保事项无反担保。 | 股票代码:601012 | 股票简称:隆基绿能 | 公告编号:临 | 2024-107 | 号 | | --- | --- | --- | --- | --- | | 债券代码:113053 | 债券简称:隆 22 转债 | | | | 隆基绿能科技股份有限公司 关于提供担保的进展公告 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。 重要内容提示： 对外担保逾期的累计数量：0 风险提示：本次 ...

关于公司以集中竞价交易方式回购股份的进展公告 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。 | 证券代码：601012 | 证券简称：隆基绿能 公告编号：2024-106 号 | | --- | --- | | 债券代码：113053 | 债券简称：隆 22 转债 | 隆基绿能科技股份有限公司 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关规定，在回购股份期间，公司应当在每个月的前 3 个交易 1 日内披露截至上月末的回购进展情况。现将公司截至 2024 年 11 月末的回购进展 情况公告如下： 2024 年 11 月，公司未实施股份回购。截至 2024 年 11 月末，公司已累计回购 股份 2,017.76 万股，占公司总股本的比例为 0.27%，回购成交的最高价为 19.11 元/股，最低价为 13.23 元/股，已支付的资金总额为 30,288.26 万元（不含交易费 用）。 上述回购进展符合既定的回购股份方案。 | 回购方案首次披露日 | 2024/3/1 | | | ...

Group 1: Market Demand and Growth Projections - In 2025, global photovoltaic (PV) installed capacity is expected to grow by 15%-20% year-on-year, driven by supportive policies and economic viability of PV generation [3] - The domestic market in China is projected to see a year-on-year growth of 10%-15% in installed capacity in 2025, supported by new policies promoting renewable energy [3] Group 2: Price Stability and Industry Trends - Recent trends indicate that the prices of photovoltaic components have stabilized, leading to a general stabilization in other manufacturing segments [4] - The industry is expected to maintain price stability in the short term, with no significant fluctuations anticipated in the next two months [4] Group 3: Regional Market Performance - The Middle East market has shown rapid growth, with significant demand for PV components, particularly from Saudi Arabia, where the company has seen a rise in component shipments [4] - The company has been actively involved in numerous PV projects in the Middle East since entering the market in 2019 [4] Group 4: Technological Developments and Sustainability - The company has established a comprehensive water-saving system, achieving a 77.38% reduction in water consumption for battery production compared to 2020 [5] - The company is collaborating with Yingfa Deyao on HPBC battery technology, focusing on research, production, and market promotion to accelerate the scale production of high-efficiency BC battery technology [4] Group 5: Future Challenges and Opportunities - The impact of the U.S. anti-dumping measures on Southeast Asian PV production capacity remains to be seen, but there is potential for continued market entry due to domestic demand for efficient battery production [5]

| 股票代码:601012 | 股票简称:隆基绿能 | 公告编号:临 | 2024-105 | 号 | | --- | --- | --- | --- | --- | | 债券代码:113053 | 债券简称:隆 22 转债 | | | | 关于董事长增持公司股份计划的公告 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。 重要内容提示： 隆基绿能科技股份有限公司（以下简称"公司"）于 2024 年 11 月 25 日 收到董事长钟宝申先生的通知，钟宝申先生拟自本公告披露日起 12 个月内通过 上海证券交易所系统允许的方式增持公司股份，增持金额不低于人民币 1 亿元 （以下简称"本次增持计划"）。 本次增持计划可能存在因资本市场情况发生变化或目前尚无法预判的 其他风险因素导致增持计划的实施无法达到预期的风险。 一、增持主体的基本情况 （一）增持主体及持股情况 本次增持计划的增持主体为公司董事长钟宝申先生。截至 2024 年 11 月 25 日，钟宝申先生持有公司 104,648,106 股股份，占公司总股本的 1.38%。 （二 ...

Investment Rating - The report assigns an "Outperform" rating to the company [2] Core Views - The company's profitability showed signs of recovery in Q3 2024, with a significant narrowing of losses compared to the previous quarter [5] - The company is making steady progress in BC technology capacity construction, with plans to achieve 70GW of BC battery capacity by the end of 2025 [6] - The company's HPBC 2.0 technology has achieved a mass production efficiency of 26.6%, with the latest BC second-generation module products reaching up to 24.8% efficiency [7] - The company aims to achieve 30GW of BC battery shipments by 2025, with a target gross margin 10% higher than existing TOPCon products [7] Financial Performance - Q3 2024 revenue was 20.064 billion yuan, down 31.87% YoY and 3.79% QoQ [5] - Q3 2024 net profit attributable to the parent company was -1.261 billion yuan, a 150.14% YoY decrease but a significant narrowing of losses compared to the previous quarter [5] - The company shipped 38.37GW of silicon wafers and 21.39GW of battery modules in Q3 2024, showing sequential growth [6] Business Segments - Silicon wafer business: Expected revenue of 9.2 billion yuan in 2024, with gross margin of 4% [12] - Module business: Expected revenue of 65.6 billion yuan in 2024, with gross margin of 6% [12] - Other businesses: Expected revenue of 5.2 billion yuan in 2024, with gross margin maintained at 25% [12] Valuation and Forecast - The company is expected to achieve net profits of -7.627 billion yuan, 5.266 billion yuan, and 7.140 billion yuan in 2024, 2025, and 2026 respectively [8] - The report gives a reasonable value range of 22.08-24.15 yuan for 2025, based on a valuation multiple of 32-35 times [8] - Revenue is expected to grow by 22.6% and 20.7% in 2025 and 2026 respectively [10]

Investment Rating - The report maintains a "Buy" rating for Longi Green Energy [5][6]. Core Views - Longi Green Energy's Q3 operational performance exceeded expectations, with a notable increase in wafer sales and a strategic adjustment in operations leading to a narrower loss per watt [3][4]. - The company is expected to benefit from its strong cash reserves and advancements in BC technology, with a projected net profit of 5.1 billion yuan in 2025, corresponding to a PE ratio of 29 times [5][4]. - The BC technology is entering a realization phase, with new products launched and production efficiency reaching 24.8%, which is expected to enhance order growth [4][5]. Financial Performance Summary - For the first three quarters of 2024, Longi Green Energy reported revenues of 58.593 billion yuan, a year-on-year decline of 37.73%, and a net loss attributable to shareholders of 6.505 billion yuan, down 155.62% year-on-year [3][4]. - In Q3 2024, the company achieved revenues of 20.064 billion yuan, a decrease of 31.87% year-on-year and 3.79% quarter-on-quarter, with a net loss of 1.261 billion yuan, down 150.14% year-on-year [3][4]. - The company has effectively controlled management expenses, which fell to 680 million yuan in Q3, less than half of the same period last year, while R&D expenses increased by 10% to 460 million yuan [4]. Market Position and Future Outlook - The company is positioned to capitalize on a potential industry recovery, with expectations for increased BC product shipments and a target capacity of 50 GW by the end of 2025 [4][5]. - The acceptance of BC components in large-scale domestic procurement is anticipated to drive order growth, reinforcing the company's market position [4].

Investment Rating - The report maintains a "Buy-B" rating for the company, indicating a positive outlook based on its competitive position and technological advancements [2]. Core Views - The company has experienced significant revenue declines due to industry supply-demand mismatches and price drops across the photovoltaic sector, leading to a projected EPS of -0.99, 0.76, and 1.17 for 2024-2026 [2]. - Despite the challenges, the company is recognized as a leading player in the industry, focusing on differentiated competition and advancing its global production capacity [2]. - The third quarter showed a reduction in losses, with a notable increase in sales volume for its HPBC second-generation products [3]. Financial Performance Summary - For the first three quarters of 2024, the company reported revenue of 585.9 billion yuan, a year-on-year decrease of 37.7%, and a net profit attributable to shareholders of -65.0 billion yuan, down 155.6% [2][3]. - The third quarter alone saw revenue of 200.6 billion yuan, a decline of 31.9% year-on-year and 3.8% quarter-on-quarter, with a net profit of -12.6 billion yuan, reflecting a 150.1% year-on-year decrease but a 56.4% improvement from the previous quarter [2][3]. - The gross margin for Q3 improved to 8.6%, up 2.0 percentage points from the previous quarter, with significant increases in shipment volumes for silicon wafers and components [3]. Production and Technology Advancements - The company achieved a silicon wafer shipment volume of 82.8 GW for the first three quarters, with a year-on-year increase in component shipments of 17.7% [3]. - The HPBC 2.0 technology has reached a mass production efficiency of 26.6%, with new high-efficiency products launched, including the Hi-MO 9 and Hi-MO X10 components, achieving maximum power outputs of 670W [3]. - The company aims to ship 30 GW of BC second-generation products in 2025, demonstrating its commitment to expanding its technological capabilities and market presence [3].