建听事不听 lun Law Offices 中国广东省深圳市福田区金田路 4028 号荣超经贸中心 28、29 层 邮政编码: 518035 28&29 Floor, Landmark, No.4028 Jintian Road, Futian District, Shenzhen 518035, P.R.C. Tel: 0755-33988188 Fax: 0755-33988199 北京市君泽君(深圳)律师事务所 关于深圳市禾望电气股份有限公司 2024年第二次临时股东大会的 法律意见书 致:深圳市禾望电气股份有限公司 深圳市禾望电气股份有限公司(以下简称公司)2024年第二次临时股东大会(以 下简称本次股东大会 ) 采取现场投票与网络投票相结合的方式召开,其中现场会议 于2024年8月30日在深圳市南山区西丽官龙村第二工业区11栋公司二楼会议室召开。 北京市君泽君(深圳)律师事务所(以下简称本所)接受公司聘任,指派本所律师 参加本次股东大会现场会议,并根据《中华人民共和国公司法》《中华人民共和国 证券法》(以下简称《证券法》)《上市公司股东大会规则》(以下简称《股东大会规 则》）以及《深圳市禾望电气股份 ...

2、公司于 2024 年 8 月 20 日以电子邮件、电话等方式向监事发出监事会会 议通知； 深圳市禾望电气股份有限公司 第四届监事会第一次会议决议公告 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。 一、监事会会议召开情况 1、深圳市禾望电气股份有限公司（以下简称"公司"）第四届监事会第一次 会议（以下简称"本次会议"）的召开符合《中华人民共和国公司法》（以下简称 "《公司法》"）《上海证券交易所股票上市规则》等相关法律、行政法规、规范性 文件及《深圳市禾望电气股份有限公司章程》（以下简称"《公司章程》"）的有 关规定； 证券代码：603063 证券简称：禾望电气 公告编号：2024-077 3、本次会议于 2024 年 8 月 30 日以通讯方式召开； 4、本次会议应参会监事 3 名，实际参会监事 3 名； 5、本次监事会由监事会主席陈云刚先生主持。 二、监事会会议审议情况 （一）审议通过《关于选举公司第四届监事会主席的议案》 选举陈云刚先生为公司第四届监事会主席。 表决结果：同意票 3 票，反对票 0 票，弃权票 0 票 ...

证券代码：603063 证券简称：禾望电气 公告编号：2024-078 深圳市禾望电气股份有限公司 关于召开 2024 年半年度业绩说明会的公告 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： 会议召开时间：2024 年 09 月 09 日（星期一）上午 10:00-11:00 会议召开地点： 上海证券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） （一）会议召开时间：2024 年 09 月 09 日上午 10:00-11:00 （二）会议召开地点：上证路演中心 （三）会议召开方式：上证路演中心网络互动 三、参加人员 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 09 月 02 日（星期一）至 09 月 06 日（星期五）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@hopewind.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。 深圳市禾望电气股份有限公司（以下简称"公 ...

证券代码：603063 证券简称：禾望电气 公告编号：2024-076 深圳市禾望电气股份有限公司 第四届董事会第一次会议决议公告 二、董事会会议审议情况 （一）审议通过《关于选举公司第四届董事会董事长、副董事长的议案》 选举韩玉先生为公司第四届董事会董事长，选举郑大鹏先生为公司第四届董 事会副董事长，任期至公司第四届董事会任期届满。 表决结果：同意票 5 票，反对票 0 票，弃权票 0 票。 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 1、深圳市禾望电气股份有限公司（以下简称"公司"、"禾望电气"）第四届 董事会第一次会议（以下简称"本次会议"）的召开符合《中华人民共和国公司 法》《上海证券交易所股票上市规则》等相关法律、行政法规、规范性文件及《深 圳市禾望电气股份有限公司章程》（以下简称"《公司章程》"）的有关规定； 2、公司于 2024 年 8 月 20 日以电子邮件、电话等方式向董事发出董事会会 议通知； 3、本次会议于 2024 年 8 月 30 日以通讯方式召开； 4、本次会议应参会董事 ...

Investment Rating - The report maintains a "Buy" rating for Hewei Electric (603063) with a target price of 16.05 CNY over the next six months [1][5]. Core Insights - The company reported a revenue of 1.38 billion CNY for the first half of 2024, a year-on-year decrease of 10.3%, and a net profit attributable to shareholders of 150 million CNY, down 23.6% year-on-year [1]. - The gross margin increased, while the expense ratio faced short-term pressure due to increased R&D investment, which rose to 11.7% of revenue, up 3.8 percentage points year-on-year [1][4]. - The gross margin for the new energy control business improved significantly, reaching 35.7%, an increase of 8 percentage points year-on-year, despite a revenue decline of 12.2% [1][4]. - The hydrogen energy business is expected to become a new growth driver, with the company providing large-capacity IGBT hydrogen production power products [1][4]. Financial Performance Summary - For the first half of 2024, the company achieved a gross margin of 38.6% and a net profit margin of 12.5% [1]. - The revenue forecast for 2024-2026 is projected to be 4.02 billion CNY, 4.86 billion CNY, and 6.06 billion CNY, respectively, with net profits of 472 million CNY, 619 million CNY, and 816 million CNY [2][4]. - The company is positioned as a leading domestic manufacturer in the wind power converter sector, leveraging its technological advantages to accelerate domestic substitution [5][6]. Business Segment Insights - The new energy control business is expected to see a revenue growth rate of 6.4% in 2024, with a gross margin of 34.89% [4]. - The engineering transmission business is projected to grow by 10% in 2024, maintaining a gross margin of 45% [4]. - The company is collaborating with Longi to expand its hydrogen energy business, which has significant growth potential [5][6].

Investment Rating - The report maintains a "Buy" rating for Hewei Electric (603063) with a target price of 16.05 CNY over the next six months [1][5]. Core Views - The company reported a revenue of 1.38 billion CNY for H1 2024, a year-on-year decrease of 10.3%, and a net profit attributable to shareholders of 150 million CNY, down 23.6% year-on-year [1]. - The gross margin has continued to rise, with a significant increase in R&D investment, which reached a rate of 11.7% in H1 2024, up 3.8 percentage points year-on-year [1]. - The renewable energy business saw a substantial increase in gross margin, while the engineering transmission sector is expected to develop steadily due to high product barriers [1][4]. Summary by Sections Financial Performance - In H1 2024, Hewei Electric achieved a revenue of 1.38 billion CNY, with a net profit of 150 million CNY, reflecting a decline of 10.3% and 23.6% respectively compared to the previous year [1]. - The gross margin for H1 2024 was 38.6%, an increase of 5.2 percentage points year-on-year, while the net profit margin was 12.5%, a slight decrease of 0.7 percentage points [1]. Business Segments - The renewable energy control business generated 1.05 billion CNY in revenue, down 12.2% year-on-year, but the gross margin improved to 35.7%, up 8 percentage points [1]. - The engineering transmission business reported revenue of 200 million CNY, down 5.1% year-on-year, with a gross margin of 39.5%, a decrease of 5.5 percentage points [1]. Growth Prospects - The hydrogen energy business is expected to become a new growth driver, with the company providing large-capacity IGBT hydrogen production power products and integrated solutions [1]. - Revenue forecasts for 2024-2026 are projected at 4.02 billion CNY, 4.86 billion CNY, and 6.06 billion CNY respectively, with net profits of 472 million CNY, 619 million CNY, and 816 million CNY [2][4]. Valuation - The report assigns a PE ratio of 15 for 2024, leading to a target price of 16.05 CNY, reflecting the company's strong position in the wind power inverter market and its rapid development in solar storage inverters [5][6].

Investment Rating - The investment rating for the company is maintained at "Buy-A" [1] Core Views - The company reported a revenue of 1.382 billion yuan for the first half of 2024, a year-on-year decrease of 10.34%, with a net profit attributable to shareholders of 155 million yuan, down 23.64% year-on-year [1] - The company's main business revenue declined, but there was a significant improvement in profits in Q2 2024, with a revenue of 833 million yuan, a year-on-year decrease of 10.54%, but a quarter-on-quarter increase of 51.88% [1] - The company is a leading manufacturer of high-power IGBT hydrogen production power supplies in China and has successfully expanded its overseas market, achieving overseas revenue of 96 million yuan in the first half of 2024, a year-on-year increase of 49.77% [2] - The company has a strong technical advantage in the wind-solar-storage collaborative development and is expected to benefit from the construction of a new power system dominated by renewable energy [1][2] Financial Data and Valuation - The company’s revenue for 2024 is projected to be 3.617 billion yuan, with a year-on-year decrease of 3.6%, followed by a significant increase of 36.6% in 2025 [3] - The net profit attributable to shareholders is expected to be 470 million yuan in 2024, with projections of 598 million yuan in 2025 and 679 million yuan in 2026 [3] - The company’s total market value is approximately 5.252 billion yuan, with a current price-to-earnings ratio (PE) of 11 for 2024, 9 for 2025, and 8 for 2026 [3][2]

Investment Rating - The investment rating for Hewei Electric (603063.SH) is maintained as "Buy" [1] Core Views - The report indicates a significant improvement in Q2 profits on a quarter-on-quarter basis, although the gross margin has declined [1] - The company achieved a revenue of 1.38 billion yuan in H1 2024, a year-on-year decrease of 10.3%, with a net profit attributable to shareholders of 155 million yuan, down 23.6% year-on-year [1] - The report highlights the company's efforts to expand internationally, with foreign revenue reaching 96 million yuan in H1 2024, a year-on-year increase of 49.8% [1] Financial Performance Summary - In Q2 2024, the company reported revenue of 830 million yuan, a year-on-year decrease of 10.5%, but a quarter-on-quarter increase of 51.9% [1] - The gross margin for Q2 2024 was 35.0%, down 9.0 percentage points from the previous quarter, while the net margin was 13.2%, up 1.8 percentage points quarter-on-quarter [1] - The company’s operating expenses as a percentage of revenue showed a decrease in sales, management, R&D, and financial expense ratios [1] Business Segment Analysis - The New Energy Control business generated revenue of 1.05 billion yuan in H1 2024, down 12.1% year-on-year, with a gross margin of 35.7%, up 8.0 percentage points year-on-year [1] - The Engineering Transmission business saw revenue of 203 million yuan in H1 2024, down 5.1% year-on-year, but Q2 revenue increased by 11.4% year-on-year and 128.2% quarter-on-quarter [1] - The company is positioned as a leading manufacturer of high-power IGBT hydrogen production power supply products, with successful applications in multiple provinces [1] Earnings Forecast - The earnings forecast for the company has been adjusted downwards, with expected profits for 2024-2026 revised to 386 million, 504 million, and 617 million yuan respectively [1] - The expected EPS for the same period is projected at 0.87, 1.14, and 1.39 yuan, with corresponding P/E ratios of 13.2, 10.1, and 8.3 times [1]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company reported a revenue of 1.38 billion RMB in the first half of 2024, a year-on-year decrease of 10.3%, and a net profit attributable to shareholders of 150 million RMB, down 23.6% year-on-year [1] - The renewable energy business faced revenue pressure, but profitability improved with a gross margin of 35.7%, up 8 percentage points year-on-year [1] - The engineering business saw a positive revenue growth in Q2, with a year-on-year increase of 11.4% [1] - The overseas business expanded successfully, achieving a revenue of 96 million RMB, a year-on-year increase of 49.8% [1] - The company increased its R&D investment, leading to a slight rise in operating expenses, with an expense ratio of 26.4%, up 6 percentage points year-on-year [1] - The profit forecast for 2024-2026 has been adjusted to 530 million, 680 million, and 810 million RMB, corresponding to P/E ratios of 10, 7, and 6 times [1] Summary by Sections Performance Review - In H1 2024, the company achieved a revenue of 1.38 billion RMB, down 10.3% year-on-year, and a net profit of 150 million RMB, down 23.6% year-on-year [1] - Q2 revenue was 833 million RMB, a decrease of 10.5% year-on-year, with a net profit of 99 million RMB, down 20.0% year-on-year [1] Business Analysis - The renewable energy control business generated 1.05 billion RMB in revenue, down 12.2% year-on-year, with a gross margin of 35.7% [1] - The engineering transmission business saw Q2 revenue of 141 million RMB, up 11.4% year-on-year, with a gross margin of 39.13% [1] - The overseas revenue reached 96 million RMB, up 49.8% year-on-year, with a gross margin of 47.8% [1] Expense and Investment - The company’s expense ratio increased to 26.4%, primarily due to declining revenue and increased R&D investment [1] - The sales expense ratio was 9.8%, management expense ratio was 4.9%, and R&D expense ratio was 11.6%, all showing year-on-year increases [1] Profit Forecast and Valuation - The adjusted net profit forecast for 2024-2026 is 530 million, 680 million, and 810 million RMB, with corresponding P/E ratios of 10, 7, and 6 times [1]

FUTER 25 D n Law Offices 中国广东省深圳市福田区金田路 4028 号荣超经贸中心 28、29 层 邮政编码: 518035 28&29 Floor, Landmark, No.4028 Jintian Road, Futian District, Shenzhen 518035, P.R.C. Tel: 0755-33988188 Fax: 0755-33988199 http://www.junzejun.com 北京市君泽君（深圳）律师事务所 关于深圳市禾望电气股份有限公司 2023年股票期权激励计划相关事项的 法律意见书 致:深圳市禾望电气股份有限公司 北京市君泽君(深圳)律师事务所(以下简称本所)接受深圳市禾望电气股份 有限公司 (以下简称公司或禾望电气)的委托,担任公司2023年股票期权激励计划 (以下简称本次激励计划)的专项法律顾问,并根据《中华人民共和国公司法》(以 下简称《公司法》、《中华人民共和国证券法》《上市公司股权激励管理办法》(以 下简称《管理办法》 等相关法律法规、规章及其他规范性文件和《深圳市禾望电 气股份有限公司章程》的规定,就本次激励计划部分股票期权注销 ...