Investment Rating - The report maintains an "Outperform" rating for the company, indicating a positive outlook compared to the market benchmark [6][7]. Core Insights - The company's ODM and core component segments are on an upward trajectory, contributing to revenue performance. The acquisition of Lihua Technology is expected to bring additional growth. However, the company has adjusted its profit forecasts for 2024-2026 due to the impact of currency fluctuations and a sluggish domestic sales environment [6][7]. - The company is projected to achieve a net profit attributable to shareholders of 1.19 billion, 1.24 billion, and 1.36 billion yuan for 2024, 2025, and 2026 respectively, reflecting year-on-year growth rates of 6.5%, 4.5%, and 9.2% [6][7]. Financial Performance Summary - For the first three quarters of 2024, the company reported total revenue of 7.246 billion yuan, a year-on-year increase of 12%. The net profit attributable to shareholders was 879 million yuan, up 6% year-on-year [7][8]. - The company’s revenue for 2024 is expected to reach 9.878 billion yuan, with a projected growth rate of 12.3%. The net profit is forecasted to be 1.189 billion yuan, reflecting a growth rate of 6.5% [6][10]. - The gross profit margin is expected to stabilize around 24.5% for 2024, with a return on equity (ROE) projected at 24.3% [6][10]. Business Segment Analysis - The ODM business has shown a recovery, with revenue growth of 20% year-on-year in Q1 2024, supported by demand recovery in the European and American retail sectors. The company is also expanding its overseas manufacturing capabilities to mitigate trade risks [8][9]. - The core component business is experiencing stable growth, with an expected new business volume of around 1 billion yuan for the year. The company has established a strong customer base, including major automotive manufacturers [9].

Investment Rating - The report maintains a "Buy" rating for the company, with an expected price-to-earnings (P/E) ratio of 11.5x for 2024, 10.0x for 2025, and 9.0x for 2026 [4][6]. Core Views - The company achieved a revenue of 7.246 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 11.98%, and a net profit attributable to the parent company of 879 million yuan, up 6.08% year-on-year [1]. - The revenue for Q3 2024 was 2.497 billion yuan, with a year-on-year growth of 5.84%, and a net profit of 276 million yuan, reflecting an 18.21% increase year-on-year [1]. - The company is expected to continue its growth trajectory in the home appliance export and cross-border e-commerce sectors, with stable performance in core component businesses [2]. - The gross margin for the first three quarters of 2024 was 24%, down 2.01 percentage points year-on-year, while the net margin was 12.15%, down 0.68 percentage points year-on-year [3]. - The report indicates a decrease in sales expense ratio due to reduced marketing expenses for self-owned brands, while financial expense ratios fluctuated due to decreased exchange gains [4]. Financial Summary - The projected revenues for 2024, 2025, and 2026 are 10.048 billion yuan, 11.006 billion yuan, and 12.066 billion yuan, respectively, with growth rates of 14.28%, 9.53%, and 9.64% [5][10]. - The net profit attributable to the parent company is forecasted to be 1.219 billion yuan in 2024, 1.402 billion yuan in 2025, and 1.568 billion yuan in 2026, with corresponding growth rates of 9.15%, 15.04%, and 11.78% [5][10]. - The earnings per share (EPS) are expected to be 2.13 yuan in 2024, 2.45 yuan in 2025, and 2.73 yuan in 2026 [5][10].

| 证券代码：603355 | 证券简称：莱克电气 | 公告编号：2024-066 | | --- | --- | --- | | 转债代码：113659 | 转债简称：莱克转债 | | 莱克电气股份有限公司 关于实施 2024 年中期权益分派时 "莱克转债"停止转股的提示性公告 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： 证券停复牌情况：适用 因莱克电气股份有限公司（以下简称"公司"）实施 2024 年中期权益分派,本 公司的相关证券停复牌情况如下： （二）自 2024 年 11 月 1 日至权益分派股权登记日期间，"莱克转债"将停止 转股，股权登记日后的第一个交易日起"莱克转债"恢复转股。欲享受公司本次 权益分派的可转债持有人可在 2024 年 10 月 31 日（含 2024 年 10 月 31 日）之前 进行转股。 三、其他 | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | -- ...

| 证券代码：603355 | 证券简称：莱克电气 | 公告编号：2024-059 | | --- | --- | --- | | 转债代码：113659 | 转债简称：莱克转债 | | 莱克电气股份有限公司 第六届董事会第十四次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 莱克电气股份有限公司（以下简称"公司"或"莱克电气"）第六届董事会 第十四次会议于 2024 年 10 月 21 日以邮件形式发出会议通知，并于 2024 年 10 月 28 日以现场结合通讯表决的方式召开。本次会议应到董事 8 名，实到董事 8 名，符合召开董事会会议的法定人数。会议由公司董事长倪祖根先生主持，公司 监事和高级管理人员列席了会议。会议程序符合《中华人民共和国公司法》及《公 司章程》的有关规定，会议合法有效。 （二）审议通过《关于部分募集资金投资项目增加实施主体、实施地点并 延期的议案》 公司决定增加募投项目"年产 8,000 万件新能源汽车、5G 通信设备和工业 自动化产业配套的关键零部件新建 ...

华泰联合证券有限责任公司 关于莱克电气股份有限公司使用闲置募集资金进行 现金管理的核查意见 二、本次委托理财概况 （一）委托理财目的 在投资风险可控且不影响公司正常经营的情况下，以及在确保不影响募集资 金投资项目正常实施的情况下，提高资金使用效率，合理利用闲置募集资金，获 得一定的投资收益，进一步提升公司整体业绩水平，为公司和股东谋取更多的投 资回报。 华泰联合证券有限责任公司（以下简称"华泰联合证券"或"保荐机构"） 作为莱克电气股份有限公司（以下简称"莱克电气"或"公司"）向不特定对象 发行可转换公司债券的保荐机构，根据《证券发行上市保荐业务管理办法》《上 海证券交易所股票上市规则》《上市公司监管指引第 2 号——上市公司募集资金 管理和使用的监管要求》《上海证券交易所上市公司自律监管指引第 1 号——规 范运作》和《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等 有关规定，对莱克电气使用闲置募集资金进行现金管理的事项进行审慎核查，核 查情况及核查意见如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于核准莱克电气股份有限公司公开发行可转 换公司债券的批复》（证监许可[2022]2 ...

| 证券代码：603355 | 证券简称：莱克电气 | 公告编号：2024-060 | | --- | --- | --- | | 转债代码：113659 | 转债简称：莱克转债 | | 莱克电气股份有限公司 第六届监事会第十次会议决议公告 莱克电气股份有限公司（以下简称"公司"）第六届监事会第十次会议于 2024 年 10 月 21 日以邮件形式发出会议通知，并于 2024 年 10 月 28 日在公司会议室 以现场方式召开，会议应到监事 3 名，实际到监事 3 名。会议由监事会主席徐 大敢先生主持，本次会议全体监事均行使了表决权。会议的召开符合《中华人 民共和国公司法》及《公司章程》的规定，合法有效。 二、监事会会议审议情况 （一）审议通过《关于公司 2024 年第三季度报告的议案》 公司监事会对《关于公司 2024 年第三季度报告的议案》进行了审核， 并发表了书面审核意见： （1）2024 年第三季度报告的内容和格式符合中国证监会和上海证券交 易所的相关规定，所包含的信息从各个方面真实地反映出公司当期的经营管 理和财务状况等事项； （2）2024 年第三季度报告的编制和审议程序符合法律、法规、公司章 程 ...

莱克电气股份有限公司 关于调整公司2024年度预计日常关联交易的公告 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个别及连带责任。 重要内容提示： 一、日常关联交易基本情况 （一） 日常关联交易履行的审议程序 | 证券代码：603355 | 证券简称：莱克电气 | 公告编号：2024-064 | | --- | --- | --- | | 债券代码：113659 | 债券简称：莱克转债 | | 2024年4月25日，公司独立董事召开第六届董事会独立董事专门会议2024年 第一次会议，经公司独立董事一致同意，审议通过了《关于公司2024年度预计日 常关联交易的议案》，并同意将该议案提交公司董事会审议。 2024年4月29日，公司第六届董事会第九次会议和第六届监事会第七次会议 均审议通过了《关于公司2024年度预计日常关联交易的议案》。在审议时，关联 董事作了回避表决，其他非关联董事全票同意，无反对和弃权。 2024年10月25日，公司独立董事召开第六届董事会独立董事专门会议2024 年第二次会议，经公司独立董事一致同意，审议通过了《关于 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥2,496,526,811.33, representing a 5.84% increase compared to ¥2,136,185,920.40 in the same period last year[2]. - Net profit attributable to shareholders was ¥276,242,443.06, an 18.21% increase from ¥221,056,012.41 year-on-year[2]. - The company reported a 21.87% increase in net profit after deducting non-recurring gains and losses, totaling ¥274,537,701.21 compared to ¥225,270,202.03 in the previous year[2]. - Total operating revenue for the first three quarters of 2024 reached RMB 7,246,297,669.41, an increase of 11.97% compared to RMB 6,471,338,033.15 in the same period of 2023[16]. - Operating profit for the first three quarters of 2024 was RMB 980,860,011.49, up from RMB 917,853,119.52 in 2023, reflecting a growth of 6.06%[16]. - Net profit attributable to shareholders of the parent company for the first three quarters of 2024 was RMB 878,731,342.29, compared to RMB 828,341,352.26 in 2023, marking an increase of 6.06%[17]. - The total comprehensive income for the first three quarters of 2024 was RMB 860,015,176.45, compared to RMB 824,708,943.35 in 2023, reflecting an increase of 4.27%[17]. - Basic earnings per share for the quarter were ¥0.48, up 17.07% from ¥0.39 in the same period last year[2]. - Basic earnings per share for the first three quarters of 2024 were RMB 1.53, up from RMB 1.44 in 2023, indicating a growth of 6.25%[17]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period increased by 52.04%, reaching ¥954,805,382.28 compared to ¥521,952,482.02 in the previous year[7]. - The company's cash and cash equivalents amounted to RMB 5.94 billion, slightly up from RMB 5.89 billion at the end of 2023, indicating a growth of approximately 0.82%[12]. - The company achieved a total cash inflow from operating activities of RMB 7,446,283,775.32, compared to RMB 6,482,421,590.28 in 2023, an increase of 14.85%[19]. - Cash inflow from financing activities reached approximately ¥5.60 billion, up from ¥3.10 billion in the previous period[20]. - The ending balance of cash and cash equivalents was approximately ¥5.93 billion, compared to ¥5.38 billion at the end of the previous period[20]. - The net increase in cash and cash equivalents was approximately ¥226.41 million, down from ¥848.82 million in the previous period[20]. Liabilities and Equity - Total assets at the end of the reporting period were ¥13,320,530,884.37, a 6.04% increase from ¥12,562,360,441.64 at the end of the previous year[3]. - Shareholders' equity attributable to the parent company increased by 24.21% to ¥5,433,558,133.13 from ¥4,374,405,871.94 year-on-year[3]. - The total current liabilities decreased to RMB 5.90 billion from RMB 6.77 billion, a reduction of approximately 12.87%[14]. - The company’s long-term borrowings stood at RMB 700.42 million, with total non-current liabilities amounting to RMB 1.97 billion, an increase from RMB 1.40 billion[14]. - The company reported an estimated liability of RMB 178.44 million related to arbitration cases, which has been accounted for in the capital reserve[11]. - The company has completed the accounting treatment for an estimated liability of RMB 178.44 million, which is now included in the capital reserve[11]. Expenses - Research and development expenses for the first three quarters of 2024 totaled RMB 381,310,149.81, slightly down from RMB 404,223,987.93 in 2023, indicating a decrease of 5.66%[16]. - The company reported a decrease in sales expenses from RMB 385,007,129.60 in 2023 to RMB 282,754,407.27 in 2024, a reduction of 26.54%[16]. Government Support - The company received government subsidies amounting to ¥2,612,579.42 during the reporting period, contributing to its financial performance[5].

| 证券代码：603355 | 证券简称：莱克电气 | 公告编号：2024-061 | | --- | --- | --- | | 转债代码：113659 | 转债简称：莱克转债 | | 一、募集资金基本情况 莱克电气股份有限公司 关于部分募集资金投资项目增加实施主体、实施地点并 延期的公告 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个别及连带责任。 重要内容提示： 本次拟增加公司全资子公司帕捷汽车零部件（泰国）有限公司（以下简称 "帕捷泰国"）为募投项目"年产 8,000 万件新能源汽车、5G 通信设备和工业自动 化产业配套的关键零部件新建项目（一期）"的实施主体，并增加"泰国春武里府 伟华东海岸工业区一区"作为该项目的实施地点；拟增加公司全资子公司莱克电气 （泰国）有限公司（以下简称"莱克泰国"）以及莱克电气越南有限公司（以下简 称"莱克越南"）均为募投项目"新增年产环境清洁和健康生活小家电 125 万台扩 建项目"和"智能数字化工厂技术改造项目"的实施主体，并增加"泰国春武里府 伟华东海岸工业区二区"以及"越南同奈省隆城区隆城 ...

根据《上海证券交易所股票上市规则》《上市公司独立董事管理办法》及《公 司章程》等有关规定，莱克电气股份有限公司（以下简称"公司"）独立董事于 2024年10月25日就公司"关于调整公司2024年度预计日常关联交易"事项召开专 门会议，审核意见如下： 经讨论，我们认为本次对公司2024年度日常关联预计额度的调整是基于公司 正常经营活动业务需求，交易公平、公正、公开，交易方式符合市场规则，交易 价格公允，没有对公司独立性构成影响，不存在损害公司利益和全体股东合法权 益的情形，符合证监会、上交所和《公司章程》的有关规定。我们同意将《关于 调整公司2024年度预计日常关联交易的议案》提交公司第六届董事会第十四次会 议审议，审议时关联董事应回避表决。 （以下无正文） (本页无正文，为莱克电气股份有限公司第六届董事会独立董事专门会议2024 年第二次会议的审核意见的签署页) 莱克电气股份有限公司 第六届董事会独立董事专门会议2024年第二次会议的审核意见 张鹏 2024 年 10月 25 日 (本页无正文，为莱克电气股份有限公司第六届董事会独立董事专门会议2024 年第二次会议的审核意见的签署页） 莱克电气股份有限公司独 ...