证券代码：601222 证券简称：林洋能源 公告编号：2024-57 江苏林洋能源股份有限公司 关于召开 2024 年第一次临时股东大会的通知 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： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2024 年第一次临时股东大会 (五) 网络投票的系统、起止日期和投票时间。 股东大会召开日期：2024年12月6日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 12 月 6 日 召开的日期时间：2024 年 12 月 6 日 14 点 30 分 召开地点：江苏启东市林洋路 666 号公司一楼多功能会议室 至 2024 年 12 月 6 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 ...

江苏林洋能源股份有限公司 第五届监事会第十五次会议决议公告 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。 江苏林洋能源股份有限公司（以下简称"公司"）第五届监事会第十五次会 议于 2024 年 11 月 11 日在江苏启东市林洋路 666 号公司会议室以现场表决方式 召开，会议应到监事 3 人，实到 3 人，符合公司章程规定的法定人数。本次会议 通知于 2024 年 11 月 9 日以书面送达形式发出，全体监事同意豁免本次会议通知 时限。会议的通知和召开符合《公司法》与《公司章程》的规定，会议由张桂琴 女士主持，公司董事会秘书列席本次会议。经与会监事认真审议，通过了以下决 议： 一、审议并通过了《公司 2024 年前三季度利润分配方案的议案》 基于公司长期稳健经营及业务长远发展的信心，兼顾公司的财务状况和对股 东合理回报的需求，公司 2024 年前三季度拟以实施权益分派股权登记日登记的 总股本扣减公司回购专用证券账户中的股份数量为基数，向全体股东每股派发现 金红利 0.268 元（含税）。截至 2024 年 9 月 30 日 ...

江苏林洋能源股份有限公司 关于 2024 年前三季度利润分配方案的公告 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： 一、利润分配方案内容 证券代码：601222 证券简称：林洋能源 公告编号：临 2024-55 本次利润分配方案尚需提交股东大会审议。 二、公司履行的决策程序 （一）董事会会议的召开、审议和表决情况 公司于2024年11月11日召开第五届董事会第十六次会议审议通过本次利润 分配方案，并同意将该方案提交至公司股东大会审议。本方案符合公司章程规定 的利润分配政策。 （二）监事会意见 截至2024年9月30日，公司母公司报表中期末未分配利润为人民币 2,026,273,921.04元。经董事会决议，公司2024年前三季度拟以实施权益分派股权 登记日登记的总股本扣减公司回购专用证券账户中的股份数量为基数分配利润。 本次利润分配方案如下： 基于公司长期稳健经营及业务长远发展的信心，兼顾公司的财务状况和对 股东合理回报的需求，公司拟向全体股东每股派发现金红利0.268元（含税）。截 至2024年9月30日 ...

1、智能板块：紧抓新型电力系统建设和电网投资机遇，以电网数字化转型 需求为导向，以智能配用电产品为核心，依托电力智能终端和系统解决方案，进 一步提高公司智能配用电产品的技术领先性，夯实核心竞争力，实现智能板块国 证券代码：601222 证券简称：林洋能源 公告编号：临 2024-56 江苏林洋能源股份有限公司 2024 年度"提质增效重回报"行动方案 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。 江苏林洋能源股份有限公司（以下简称"公司"）于 2024 年 11 月 11 日召开 第五届董事会第十六次会议，审议通过了《关于公司 2024 年度"提质增效重回 报"行动方案的议案》。为深入贯彻中央经济工作会议和中央金融工作会议精神， 落实国务院《关于进一步提高上市公司质量的意见》要求，响应上海证券交易所 《关于开展沪市公司"提质增效重回报"专项行动的倡议》，践行以"投资者为 本"的上市公司发展理念，切实履行上市公司的责任和义务，维护全体股东利益， 公司制定了 2024 年度"提质增效重回报"行动方案，具体内容如下： 一、聚焦主营 ...

Investment Rating - The report maintains a "Buy" rating for the company [5][7] Core Views - The company's performance shows steady growth, with revenue and net profit increasing by 8.76% and 6.95% respectively in the first three quarters of 2024 [5] - The company's three major businesses (smart meters, new energy, and energy storage) are developing synergistically, with strong demand for smart meters both domestically and internationally [6][7] - The company's new energy power station scale has reached 1.342GW, with most stations located in regions with strong new energy consumption capacity [6] - The company's joint venture energy storage PACK factory in Saudi Arabia is under construction and expected to start production in Q4 2024 [7] Financial Performance - In Q3 2024, the company achieved revenue of 1.703 billion yuan, a year-on-year increase of 10.63%, and net profit of 312 million yuan, a year-on-year increase of 15.41% [5] - The company's gross margin and net margin for Q3 2024 were 34.65% and 18.39% respectively [5] - The company's revenue and net profit for the first three quarters of 2024 were 5.166 billion yuan and 910 million yuan respectively [5] Business Segments Smart Meter Business - Domestic demand for smart meters is strong, with State Grid increasing its bidding batches and total equipment bidding reaching 89.33 million units, a 25% year-on-year increase [6] - The company has secured overseas smart meter orders from Poland and Saudi Arabia, with contract amounts totaling over 1.1 billion yuan [6] New Energy Business - The company's self-operated new energy power stations have reached a scale of 1.342GW (1.155GW photovoltaic and 187MW wind power) [6] - Most of the power stations are located in regions with strong new energy consumption capacity, such as Anhui and Jiangsu [6] Energy Storage Business - The company's joint venture energy storage PACK factory in Saudi Arabia is under construction and expected to start production in Q4 2024 [7] Financial Forecasts - The company's revenue is forecasted to be 10.079 billion yuan, 13.024 billion yuan, and 15.662 billion yuan for 2024, 2025, and 2026 respectively [7][11] - Net profit is expected to be 1.184 billion yuan, 1.421 billion yuan, and 1.660 billion yuan for 2024, 2025, and 2026 respectively [11] - EPS is projected to be 0.57 yuan, 0.69 yuan, and 0.81 yuan for 2024, 2025, and 2026 respectively [7][11] - The company's ROE is expected to increase from 7.3% in 2024 to 9.2% in 2026 [11]

Investment Rating - The report maintains a "Recommend" rating for Lin Yang Energy (601222) with a target price of 9.27 RMB, compared to the current price of 7.75 RMB [1] Core Views - Lin Yang Energy's Q1-Q3 2024 performance met expectations, with revenue of 5.166 billion RMB (+8.76% YoY) and net profit of 910 million RMB (+6.95% YoY) [1] - The company's gross margin improved to 32.48% (+0.58pct YoY), while net margin slightly decreased to 17.62% (-0.30pct YoY) [1] - Q3 2024 showed strong growth with revenue of 1.703 billion RMB (+10.63% YoY) and net profit of 312 million RMB (+15.41% YoY) [1] Business Segments Smart Meter Business - The smart meter segment is growing steadily, with active participation in domestic power grid tenders and expansion into over 30 international markets [2] - Strategic partnerships with global leaders like Landis+Gyr and ECC are helping to expand market share in Western Europe, Asia-Pacific, and the Middle East [2] Renewable Energy - The company's self-owned power plants reached 1.34GW by Q3 2024, including 1.16GW of solar and 187MW of wind projects [2] - With a 94% utilization rate, these projects are well-positioned in economically developed regions of Eastern China [2] Energy Storage - Lin Yang Energy is aggressively expanding its overseas energy storage business, focusing on Europe, the Middle East, and Southeast Asia [2] - The company is establishing a joint venture with Saudi ECC for a battery pack factory in Jeddah, expected to start production in Q4 2024 [2] Financial Performance - Operating cash flow significantly improved to 625 million RMB in Q1-Q3 2024, compared to -411 million RMB in the same period last year [2] - The company's PE ratio is projected at 14x for 2024, 12x for 2025, and 10x for 2026 [2] - Revenue is expected to grow from 7.988 billion RMB in 2024 to 13.103 billion RMB in 2026, with net profit increasing from 1.128 billion RMB to 1.597 billion RMB over the same period [3] Market Position - Lin Yang Energy has a total market capitalization of 15.966 billion RMB, with a P/B ratio of 1.0 and a debt-to-asset ratio of 35.21% [4] - The company's 12-month stock price range is between 5.13 RMB and 7.88 RMB [4]

Investment Rating - The report maintains a **Buy** rating for the company, with a target price of RMB 7.75 [1] - The sector rating is **Outperform** [1] Core Views - The company's three major business segments are developing synergistically, accelerating its global expansion [3] - The company reported a 6.95% YoY growth in net profit for the first three quarters of 2024, with Q3 net profit growing 15.41% YoY [3] - The company's smart meter business is expanding overseas, with significant orders in Central and Eastern Europe, and partnerships with global leaders like Landis+Gyr [3] - The energy storage business is launching new products, with a joint venture factory in Saudi Arabia expected to start production soon [3] - The company's new energy power station construction is progressing, with a 150MW photovoltaic project successfully connected to the grid in October 2024 [3] Financial Performance - Revenue for the first three quarters of 2024 reached RMB 5.17 billion, up 8.76% YoY [3] - Net profit attributable to shareholders was RMB 910 million, up 6.95% YoY [3] - Gross profit margin increased by 0.58 percentage points to 32.48% [5] - The company's self-owned power station capacity reached approximately 1.34GW by the end of Q3 2024, including 187MW of wind power projects [3] Valuation and Forecast - The report adjusts the EPS forecast for 2024-2026 to RMB 0.56/0.65/0.74, up from the previous forecast of RMB 0.55/0.60/0.71 [3] - The P/E ratio for 2024-2026 is estimated at 13.8x, 11.9x, and 10.4x respectively [3] - The company's EV/EBITDA ratio is expected to decrease from 8.2x in 2024 to 5.9x in 2026 [4] Business Highlights - The company secured domestic smart meter orders worth approximately RMB 800 million, with overseas orders reaching RMB 806 million by October 2024 [3] - The new Power Key 2.0 modular P2G energy storage system was launched in September 2024, marking a significant advancement in the industry [3] - The joint venture factory in Jeddah, developed in collaboration with ECC, is expected to start production in Q4 2024 [3] Market Performance - The company's stock price has outperformed the Shanghai Composite Index by 7.2% year-to-date, with a 25.2% increase over the past three months [2] - The company's total market capitalization is RMB 15.97 billion, with a three-month average daily trading volume of RMB 182.84 million [2]

Investment Rating - The investment rating for the company is "Buy" and it is maintained [3]. Core Views - The company reported a revenue of 5.166 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 8.76%. The net profit attributable to the parent company was 910 million yuan, up 6.95% year-on-year [3][4]. - In Q3 2024, the company achieved a revenue of 1.703 billion yuan, which is a year-on-year increase of 10.63%, but a quarter-on-quarter decrease of 10.82%. The net profit for Q3 was 312 million yuan, reflecting a year-on-year growth of 15.41% and a quarter-on-quarter decline of 18.18% [3][4]. Summary by Sections Intelligent Metering Segment - The intelligent segment is experiencing steady growth, driven by the demand for meter upgrades from State Grid and Southern Grid. The company has won bids worth approximately 800 million yuan this year and is actively expanding into overseas markets, with notable performance in Central and Eastern Europe [4][5]. - The company has secured overseas orders amounting to 806 million yuan and is collaborating with global leaders to enhance market share in Western Europe and Asia-Pacific [4]. New Energy Power Stations - The company is accelerating the construction and grid connection of new energy power stations. A 150MW photovoltaic project in Hebei successfully connected to the grid in October, boosting the sales business [4]. - As of the end of Q3 2024, the company has a self-owned power station capacity of approximately 1.34GW, including a 187MW wind power project, with a 100% consumption rate for its projects located in favorable regions [4]. Energy Storage Business - The energy storage segment is seeing accelerated delivery and profitability. The company has delivered nearly 3.5GWh of energy storage devices and systems, with multiple projects now operational [5]. - In September, the company launched the Power Key 2.0 intelligent modular P2G energy storage system, enhancing its market competitiveness [5]. Financial Data - For the first three quarters of 2024, the company reported an operating net cash flow of 625 million yuan, attributed to improved collection quality. The expense ratio for Q3 was 14.04%, an increase of 2.07 percentage points year-on-year, mainly due to rising financial costs [5]. - The company is expected to achieve a net profit of 1.2 billion yuan in 2024, corresponding to a PE ratio of 13 times [5].

证券代码：601222 证券简称：林洋能源 公告编号：临 2024-52 江苏林洋能源股份有限公司 关于子公司签订海外经营合同的公告 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： 3、注册资金：200 万沙特里亚尔（约合 380 万元人民币） 4、注册地址：4th Al Amoudi Building Madina (Al) Nazil Street Hay Al Baghdadiyah Al Gharbiyah (West) ，吉达市，沙特阿拉伯 5、经营范围：智能电表进口、制造和相关贸易 6、沙特 ECC 是沙特本地最大的智能电表制造商之一，沙特电力局 SEC 的智能 电表长期稳定供应商。 1 合同类型：销售合同 合同金额：根据合同报价测算，合同总金额为 1,365.99 万美元，约合人民币 9,698.53 万元（含税，按汇率 7.10 折算成人民币）。 一、交易概述 近日，江苏林洋能源股份有限公司（以下简称"公司"）全资子公司林洋能源 科技（上海）有限公司（以下简称"上海林洋"）与沙特 Energy ...

Investment Rating - The report maintains a "Buy" rating for the company [4]. Core Views - The company has shown steady revenue growth, with a 8.76% year-on-year increase in revenue for the first three quarters of 2024, reaching 5.166 billion yuan. The net profit attributable to shareholders increased by 6.95% year-on-year to 910 million yuan [1]. - The company is actively expanding its overseas market presence, particularly in Eastern and Southeast Asia, with significant orders and partnerships established [2]. - The energy storage business is being enhanced with new product launches and the establishment of joint ventures, which are expected to support future growth [2]. - The renewable energy segment is also growing, with a total self-owned power station capacity of approximately 1.34 GW as of Q3 2024 [3]. Summary by Sections Financial Performance - For Q3 2024, the company achieved a revenue of 1.703 billion yuan, a 10.63% increase year-on-year, and a net profit of 312 million yuan, reflecting a 15.41% year-on-year growth [1]. - The company forecasts net profits of 1.174 billion yuan, 1.380 billion yuan, and 1.624 billion yuan for 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 13, 11, and 9 [3]. Business Segments - **Intelligent Business**: The domestic market is growing steadily, with a focus on expanding into overseas markets, including winning contracts worth approximately 800 million yuan in domestic tenders [2]. - **Energy Storage Business**: The launch of the Power Key 2.0 smart modular P2G energy storage system enhances market competitiveness, with a joint venture in Saudi Arabia expected to commence production this year [2]. - **Renewable Energy**: The company has accelerated the construction and grid connection of renewable energy power stations, with a focus on regions with favorable power consumption conditions [3].