Investment Rating - The investment rating for the company is "Add" [3][12] Core Views - The company has achieved significant growth in revenue and profit driven by the new energy sector, with a revenue increase of 16.5% year-on-year and a net profit increase of 38.8% in the first three quarters of 2024 [2] - The company's strategy focuses on a dual-driven approach of "new materials as the main focus and new energy as a supplement," with products widely used in various high-tech industries [2] - The company is expanding its production capacity in the new energy sector, with ongoing projects in Vietnam and the United States, which are expected to enhance its competitive edge [2] Summary by Sections Company Basic Data - Closing price: 19.38 CNY - Total shares: 781.89 million - Total market value: 15,153.09 million CNY - Circulating market value: 15,120.53 million CNY - Highest/Lowest price in December: 21.87/11.65 CNY - Debt-to-asset ratio: 55.04% - Earnings per share (EPS): 1.40 CNY for the first three quarters of 2024 [1][2] Financial Performance - For the first three quarters of 2024, the company reported revenue of 145.9 billion CNY, a 16.5% increase year-on-year, and a net profit of 11.0 billion CNY, a 38.8% increase year-on-year [2] - The gross margin and net margin for the first three quarters of 2024 were 15.7% and 7.5%, respectively, showing improvements from the previous year [2] - The company’s revenue for Q3 2024 was 57.2 billion CNY, with a net profit of 4.60 billion CNY, reflecting a year-on-year growth of 19.6% and 38.9%, respectively [2] Business Segments - The new materials segment includes various alloy products used in advanced technology sectors, while the new energy segment focuses on solar cell production and photovoltaic power station operations [2] - The company has seen steady growth in its copper alloy business, driven by increased sales in the electric vehicle and semiconductor sectors [2] - The new energy business has expanded significantly, with projects in Vietnam and the U.S. expected to further enhance growth and profitability [2] Future Outlook - The company is projected to continue its growth trajectory, with expected revenues of 20.94 billion CNY in 2024, representing a 17.9% increase [5] - The net profit is expected to reach 1.49 billion CNY in 2024, with a growth rate of 32.6% [5] - The company’s EPS is projected to increase to 1.44 CNY in 2024, with a P/E ratio of 10.2 [5]

| 证券代码：601137 | 证券简称：博威合金 | | 公告编号：临 | 2024-074 | | --- | --- | --- | --- | --- | | 债券代码：113069 | 债券简称：博 23 | 转债 | | | 宁波博威合金材料股份有限公司 关于公司控股股东及其一致行动人减持公司可转债的公告 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。 宁波博威合金材料股份有限公司（以下简称"公司"）于 2024 年 11 月 4 日获悉， 公司控股股东博威集团有限公司（以下简称"博威集团"）及其一致行动人博威亚太 有限公司（以下简称"博威亚太"）于 2024 年 10 月 25 日至 2024 年 11 月 4 日期间 通过大宗交易方式和集中竞价方式减持其所持有的公司部分可转换公司债券（以下 简称"可转债"或"博 23 转债"），并已减持完毕。具体情况如下： 一、股东配售可转债情况 经中国证券监督管理委员会"证监许可〔2023〕2509 号"文核准，公司于 2023 年 12 月 22 日向不特定对象发行了 1, ...

所有现象投资者均处于静音状态下面介绍出席本次会议的领导董事会秘书王总财务总监卢总以及本次会议的联席主持明星作券的南总下面的时间交给主持人 好的各位现场的投资者大家早上好我是民生基础男学员昨晚博威合金也是发布了23年三季度的一个业绩的一个情况从业绩上讲其实公司的业绩是创历史新高的并且我觉得也是比较超大家市场预期的特别是整个光复的业绩 一个表现今天也是非常感谢公司抽出时间和我们进行一个安排这个交流的一个时间首先还是请公司领导先对整个单子的一个经营情况进行一个介绍后面我们再进入问答的一个环节王总王总好早上王总要不您先整个对我们整个单子的一个经营情况进行一个介绍喂喂王总可以听得到吗 真正的各位领导欢迎大家参加 博威合金2024年三季度报告的解读交流在此我们将公司2024年三季度的经营情况向各位投资者做详细的汇报一、业务情况 报告期内公司累计实现主营业务收入145.89亿元累计实现淨利润10.98亿元其中精材料实现淨利润3.31亿元新能源实现淨利润7.67亿元精材料方面 2024年前三季度新材料累计销量十七万五千一百吨同比增加26.13%其中磅材七万六千六百六十九吨现材两万三千零八十九吨代材五万零三百三十二吨精益细丝两 ...

证券时报e公司讯，企查查APP显示，近日，宁波银石合金贸易有限公司成立，法定代表人为孙梅君， 注册资本1000万元，经营范围包含：金属材料销售；新型金属功能材料销售；超导材料销售；电子专用 材料销售等。 企查查股权穿透显示，该公司由博威合金全资持股。 ...

请务必阅读正文之后的免责声明及其项下所有内容 博威合金（601137.SH） 优于大市 前三季度归母净利润同增 39%，核心业务稳中向好 公司 2024 年前三季度营收同比+16.48%，归母净利润同比+38.81%。公司 2024 年 Q1-Q3 实现营收 145.89 亿元，同比+16.48%；实现归母净利润 10.98 亿元， 同比+38.81%；实现扣非归母净利润 10.58 亿元，同比+33.19%。其中三季度 单季实现营收 57.17 亿元，同比+19.59%，环比+30.42%；实现归母净利润 4.60 亿元，同比+38.91%，环比+22.65%。三季度公司业绩环比提升主要由于新能 源业务放量以及成本进一步下降；新材料板块 5 万吨带材项目产能利用率的 提升带来一定的量增和利增，其余品种的销量环比基本保持持平。 盈利能力有所提升，期间费用率和资产负债率保持稳定。2024Q1-Q3，公司 毛利率为 15.74%，同比提升 1.38pct；净利率为 7.52%，同比提升 1.21pct。 销售/管理/研发/财务费用率分别为 1.35%/2.63%/2.54%/0.80%，管理费用率 较 2023 ...

博威合金（601137.SH）2024 年三季报点评 业绩超预期，光伏盈利保持强劲 2024 年 10 月 26 日 [盈利预测与财务指标 Table_Forcast] ➢ 事件：公司发布 2024 年三季报。2024Q1-Q3 公司实现营收 145.9 亿元， 同比+16.5%，归母净利 11.0 亿元，同比+38.8%，扣非归母净利 10.6 亿元，同 比+33.2%；单季度看，24Q3 实现营收 57.2 亿元，同比+19.6%，环比+30.4%， 归母净利 4.6 亿元，同比+38.9%，环比+22.7%，扣非归母净利 4.5 亿元，同比 +42.8%，环比+26.7%。业绩超出我们预期。 ➢ 业绩超预期，主要由于光伏业务盈利能力保持强劲。1）财务费用：2024Q3 财务费用 1.3 亿，环比+2.0 亿，主要由于汇率变动引起的汇兑损益增加；2）铜 合金：24H1 铜合金销量合计 11.3 万吨，同比+33.1%，随着 5 万吨带材项目、 越南 3.18 万吨棒线材项目爬坡到一定水平，我们预计 24Q3 铜合金销量环比保 持稳定，剔除汇兑损益影响后，我们预计盈利贡献基本持平；2）光伏：24H1 光 伏 ...

来源：公司年报、国金证券研究所 博威合金 (601137.SH) 事件 10 月 24 日，公司公布 24 年三季报，前三季度实现营收 145.89 亿元，同比+16.48%；归母净利 10.98 亿元，同比+38.81%；扣非 归母净利 10.58 亿元，同比+33.19%。3Q24 实现归母净利 4.51 亿 元，环比+26.73%，同比+42.81%。 点评 新能源组件业务放量，驱动业绩大幅增长。3Q24，公司新能源业 务持续发力，光伏组件稳步发货，实现业务放量，同时新能源业 务盈利能力提升，量利齐升贡献公司业绩表现，3Q24 及前三季度 公司均实现营收净利双增长。3Q24，美国及越南 TOPCon 组件及电 池片新建扩产项目建设继续推进，美国光伏市场需求强劲，公司 在美国建立了长期稳定可靠的客户战略关系，同时公司在越南的 子公司享受税收优惠，后续随着新能源组件业务的推进，有望为 公司带来可持续的增长。 新材料业务稳中有增，带材业务同比大幅提升。3Q24，公司新材 料销量实现增长，带材业务同比大幅增加，公司产品结构改善， 汽车电子在带材中的占比逐步提升，叠加原材料价格上涨，驱动 营收同比增长；新材料业务 ...

Revenue and Profit Growth - Revenue for the third quarter reached 5,716,523,205.72 yuan, a year-on-year increase of 19.59%[2] - Net profit attributable to shareholders of the listed company for the third quarter was 459,947,461.54 yuan, up 38.91% year-on-year[2] - Revenue from the beginning of the year to the end of the reporting period was 14,588,763,717.30 yuan, a year-on-year increase of 16.48%[2] - Net profit attributable to shareholders of the listed company from the beginning of the year to the end of the reporting period was 1,097,542,782.68 yuan, up 38.81% year-on-year[2] - Total revenue for the first three quarters of 2024 reached RMB 14,588,763,717.30, a 16.5% increase compared to RMB 12,524,303,047.12 in the same period of 2023[15] - Operating profit for the first three quarters of 2024 was RMB 1,235,915,189.96, up 32.3% from RMB 934,417,093.10 in the same period of 2023[15] - Net profit attributable to parent company owners for Q3 2024 was RMB 4,079,477,382.86, a 22.4% increase from RMB 3,333,173,941.68 in the previous year[13] - Net profit attributable to parent company shareholders reached 1,097,542,782.68 RMB, a significant increase from 790,687,347.12 RMB in the previous year[16] - Net profit for the first three quarters of 2024 was 447.5 million yuan, an increase from 344.05 million yuan in the same period last year[22] - Revenue for the first three quarters of 2024 was 5.89 billion yuan, up from 5.63 billion yuan in the same period last year[22] Asset and Liability Changes - Total assets as of the end of the reporting period were 17,252,836,473.72 yuan, an increase of 5.54% compared to the end of the previous year[4] - Total assets as of Q3 2024 amounted to RMB 17,252,836,473.72, a 5.5% increase from RMB 16,347,712,590.75 in the previous year[12] - Fixed assets increased to RMB 4,130,076,491.82 in Q3 2024, up 5.3% from RMB 3,923,086,643.08 in the previous year[12] - Construction in progress increased by 141.83% due to the expansion of new energy projects and the 20,000-ton special alloy electronic material wire production line[7] - Construction in progress surged to RMB 2,045,875,239.85 in Q3 2024, a 141.8% increase from RMB 845,980,837.72 in the previous year[12] - Total liabilities for Q3 2024 were RMB 9,496,273,172.47, a 2.8% increase from RMB 9,239,882,448.78 in the previous year[13] - Short-term borrowings rose to RMB 1,873,343,827.11 in Q3 2024, a 13.7% increase from RMB 1,647,506,203.40 in the previous year[12] - Total assets decreased from 10.56 billion yuan to 10.39 billion yuan compared to the previous period[20][22] - Accounts receivable increased to 931.25 million yuan from 856.04 million yuan compared to the previous period[20] - Inventory increased significantly to 1.08 billion yuan from 715.51 million yuan compared to the previous period[20] - Short-term borrowings decreased slightly to 1.15 billion yuan from 1.18 billion yuan compared to the previous period[21] - Long-term equity investments remained stable at approximately 3.79 billion yuan[20] - Total liabilities decreased from 5.41 billion yuan to 5.11 billion yuan compared to the previous period[21][22] - Shareholders' equity increased to 5.28 billion yuan from 5.15 billion yuan compared to the previous period[21][22] Cash Flow and Financial Expenses - Financial expenses increased by 1,322.48% due to exchange rate fluctuations[8] - Investment activities resulted in a net cash outflow of -170.72%, mainly due to expenditures on new energy projects and the expansion of the special alloy electronic material production line[8] - Cash flow from operating activities increased to 396,076,379.13 RMB, compared to 343,974,958.82 RMB in the prior year[18] - Cash flow from investing activities showed a net outflow of 1,284,742,483.93 RMB, a significant increase from 474,569,418.41 RMB in the previous year[19] - Cash flow from financing activities had a net outflow of 216,505,916.24 RMB, compared to a net inflow of 95,265,799.97 RMB in the prior year[19] - Cash and cash equivalents at the end of the period were 1,799,473,769.62 RMB, down from 2,894,512,277.04 RMB at the beginning of the period[19] Shareholder and Equity Information - Total number of ordinary shareholders at the end of the reporting period: 39,195[9] - Top shareholder: Boway Group Co., Ltd., holding 225,568,681 shares, accounting for 28.85% of total shares[9] - Second largest shareholder: Boway Asia Pacific Limited, holding 80,000,000 shares, accounting for 10.23% of total shares[9] - No major shareholders or top 10 shareholders participated in margin trading or securities lending business during the reporting period[10] - Total equity attributable to parent company owners reached RMB 7,756,563,301.25 in Q3 2024, a 9.1% increase from RMB 7,107,830,141.97 in the previous year[13] R&D and Operational Expenses - R&D expenses for the first three quarters of 2024 were RMB 370,729,396.84, a 20.5% increase from RMB 307,738,150.45 in the same period of 2023[15] - R&D expenses increased to 213.87 million yuan in the first three quarters of 2024, compared to 193.47 million yuan in the same period last year[22] - Sales revenue from goods and services provided was 14,231,080,857.49 RMB, an increase from 13,614,135,034.67 RMB in the previous year[18] - Payments for goods and services received were 12,958,024,998.44 RMB, up from 12,733,683,001.51 RMB in the prior year[18] - Payments to employees and for employee benefits were 764,904,896.67 RMB, compared to 674,143,836.13 RMB in the previous year[18] Comprehensive Income and Earnings - Total comprehensive income for the period was 971,801,947.23 RMB, compared to 797,101,930.10 RMB in the prior year[16] - Basic and diluted earnings per share were 1.40 RMB, up from 1.00 RMB in the previous year[18] Monetary Funds and Accounts Receivable - Monetary funds as of September 30, 2024: 2,006,057,113.55 RMB, a decrease from 3,134,261,319.49 RMB at the end of 2023[11] - Accounts receivable as of September 30, 2024: 2,198,137,816.91 RMB, an increase from 1,743,584,439.75 RMB at the end of 2023[11] - Inventory as of September 30, 2024: 5,034,152,369.67 RMB, an increase from 4,780,527,160.83 RMB at the end of 2023[11] - Other current assets as of September 30, 2024: 10,587,771,844.07 RMB, a slight increase from 10,515,949,503.29 RMB at the end of 2023[11] Revenue and Profit Drivers - The increase in revenue was mainly due to growth in new material sales and rising raw material prices[7] - The increase in net profit was primarily driven by improved profitability in the new energy and new materials sectors[7]

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： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 证券代码：601137 证券简称：博威合金 公告编号：临2024-073 债券代码：113069 债券简称：博23转债 宁波博威合金材料股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 投资者可于 2024 年 11 月 07 日(星期四) 至 11 月 13 日(星期三) 16:00 前登 录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 IR@bowayalloy.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 宁波博威合金材料股份有限公司（以下简称"公司"）已于 2024 年 10 月 25 日发布公司 2024 年第三季度报告，为便于广大投资者更全面深入地了解公司 2024 年第三季度经营成果、财务状况，公司计划于 2024 年 11 月 14 日(星期四) 上 午 10:00-11:00 举行 2024 年第三季度 ...

| | | 公告编号：临2024-070 | | --- | --- | --- | | 证券代码：601137 债券代码：113069 | 证券简称：博威合金 债券简称：博23转债 | | 表决结果：同意 9 票，反对 0 票，弃权 0 票。 具体内容详见上海证券交易所网站（www.sse.com.cn）上披露的《博威合金关于对 全资子公司增资的公告》（公告编号：临 2024-071）。 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。 宁波博威合金材料股份有限公司（以下简称"公司"）于2024年10月24日在公司会议 室召开了第六届董事会第四次会议。本次会议应出席董事9人，实际到会董事9人，其中 董事张明先生、郑小丰先生、孟祥鹏先生、独立董事崔平女士以通讯方式参会表决；会 议由董事长谢识才先生主持，公司监事和其他高级管理人员列席会议，会议的召集和召 开符合《公司法》和《公司章程》的有关规定。参会董事对相关议案进行了充分讨论， 审议通过以下议案，形成决议如下： 一、审议通过了《宁波博威合金材料股份有限公司 2024 年第三季度 ...