证券代码：603556 证券简称：海兴电力 公告编号：2025-016 杭州海兴电力科技股份有限公司 第五届监事会第二次会议决议公告 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个别及连带责任。 二、监事会会议审议情况 1、审议通过了《关于2024年度监事会工作报告的议案》 表决结果：3 票赞成，0 票反对，0 票弃权 本议案尚需提交公司 2024 年年度股东大会审议。 2、审议通过了《关于2024年年度报告及其摘要的议案》 表决结果：3 票赞成，0 票反对，0 票弃权 本议案尚需提交公司 2024 年年度股东大会审议。 3、审议通过了《关于2024年度财务决算报告的议案》 表决结果：3 票赞成，0 票反对，0 票弃权 一、监事会会议召开情况 2025 年 4 月 18 日，杭州海兴电力科技股份有限公司（以下简称"海兴电力" 或"公司"）第五届监事会第二次会议在公司会议室以现场表决的方式召开。本 次会议通知于 2025 年 4 月 8 日以电子邮件的形式向各位监事发出，会议应参加 监事 3 名，实际参加监事 3 名，占全体监事人数的 ...

杭州海兴电力科技股份有限公司 第五届董事会第二次会议决议公告 证券代码：603556 证券简称：海兴电力 公告编号：2025-015 表决结果：9 票赞成，0 票反对，0 票弃权 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 2025 年 4 月 18 日，杭州海兴电力科技股份有限公司（以下简称"海兴电力" 或"公司"）第五届董事会第二次会议在公司会议室以现场结合通讯表决的方式 召开。本次会议通知于 2025 年 4 月 8 日以电子邮件的形式向各位董事发出，会 议应参加董事 9 名，实际参加董事 9 名，占全体董事人数的 100%，会议由董事 长周良璋先生主持。本次会议的召集、召开以及表决程序符合《公司法》及《公 司章程》的有关规定，会议形成的决议合法有效。 二、董事会会议审议情况 1、审议通过了《关于2024年度董事会工作报告的议案》 表决结果：9 票赞成，0 票反对，0 票弃权 本议案尚需提交公司 2024 年年度股东大会审议。 2、审议通过了《关于2024年度独立董事述职报告的议案》 公 ...

每股分配比例：每 10 股派发现金红利人民币 7 元（含税） 本次利润分配以实施权益分派股权登记日登记的可参与利润分配的股数 为基数，具体日期将在权益分派实施公告中明确。 若在实施权益分派的股权登记日前公司总股本发生变动情况，公司拟维 持每股分配比例不变，相应调整分配总额，并将另行公告具体调整情况。 公司不触及《上海证券交易所股票上市规则（2024 年 4 月修订）》（以 下简称"《股票上市规则》"）第 9.8.1 条第一款第（八）项规定的可能被实施 其他风险警示的情形。 一、利润分配预案内容 证券代码：603556 证券简称：海兴电力 公告编号：2025-018 杭州海兴电力科技股份有限公司 关于2024年度利润分配预案的公告 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个别及连带责任。 重要内容提示： （一）利润分配方案的具体内容 根据安永华明会计师事务所（特殊普通合伙）审计，公司 2024 年度合并报 表归属于上市公司股东的净利润为 1,002,037,975.68 元，截至 2024 年 12 月 31 日，公司母公司报表中期 ...

Profit Distribution and Financial Performance - The profit distribution plan for 2024 proposes a cash dividend of RMB 7.00 per 10 shares (including tax) to all shareholders, with no bonus shares or capital reserve conversion into shares[7]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in Q3 2023, representing a 15% year-over-year growth[92]. - The total distributable profit of CNY 3,558,994,307.21 as of December 31, 2023, with a proposed cash dividend of CNY 11.00 per 10 shares[113]. - The cash dividend for 2023 represents 33.97% of the net profit attributable to ordinary shareholders, which is RMB 1,002,037,975.68[120]. - The net profit for 2024 was CNY 1,002,409,658.99, a rise of 2.5% from CNY 982,280,741.31 in 2023[196]. - The company's operating revenue for 2024 reached CNY 4,717,025,665.84, an increase of 12.3% compared to CNY 4,200,350,318.37 in 2023[195]. Audit and Compliance - The company has received a standard unqualified audit report from Ernst & Young Hua Ming Accounting Firm[6]. - The financial report is guaranteed to be true, accurate, and complete by the responsible persons of the company[6]. - The company has established a comprehensive internal control system, with no significant deficiencies reported during the reporting period[126]. - The internal control audit report issued by Ernst & Young Huaming confirmed the effectiveness of the company's internal controls with a standard unqualified opinion[128]. - The audit identified the high proportion of overseas sales revenue as a key audit matter due to the complexity of revenue recognition across different contracts[178]. Revenue and Growth - The company's operating revenue for 2023 reached ¥4,717,025,665, representing a year-on-year increase of 12.30% compared to ¥3,309,723,564.37 in 2022[23]. - The smart distribution and utilization business generated 4.535 billion RMB in revenue, a 13.35% increase year-on-year[33]. - Overseas revenue in the smart distribution business was 2.940 billion RMB, growing by 9.77%[33]. - Domestic revenue in the smart distribution business reached 1.595 billion RMB, a significant increase of 20.61%[33]. - The company's total revenue reached 4.717 billion RMB, a year-on-year increase of 12.30%[32]. Research and Development - The company's R&D expenses increased by 13.42% to approximately ¥310.88 million, up from ¥274.09 million in the previous year[50]. - Research and development investments have increased by 25%, focusing on innovative technologies in the energy sector[92]. - The number of R&D personnel is 829, making up 26% of the total workforce[61]. - Research and development expenses for 2024 were CNY 310,883,803.18, an increase from CNY 274,088,605.86 in 2023, reflecting a growth of 13.4%[195]. Governance and Board Activities - All board members attended the board meeting, ensuring full participation in decision-making[5]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with relevant regulations and effective governance[83]. - The company held six board meetings during the year, with one in-person meeting and five combining in-person and communication methods[103]. - The company held its annual general meeting on May 10, 2024, where all proposed resolutions were approved[88]. - The company has established specialized committees within the board, including an audit committee, nomination committee, compensation and assessment committee, and strategic committee[104]. Financial Position and Assets - The total assets as of the end of 2023 amounted to ¥9,478,317,442, showing a 4.40% increase from ¥8,045,699,626.82 in 2022[23]. - The company's total liabilities decreased to CNY 1,585,585,484.12 in 2024 from CNY 1,858,539,749.25 in 2023, a reduction of 14.7%[193]. - The company's equity attributable to shareholders increased to CNY 7,121,469,162.43 from CNY 6,632,579,097.99, marking an increase of approximately 7.4%[189]. - The company's inventory increased slightly from CNY 763,291,659.25 in 2023 to CNY 806,797,515.17 in 2024, reflecting a growth of approximately 5.7%[187]. Strategic Initiatives and Future Plans - The company aims to enhance its digital transformation and AI technology application across all business processes to improve efficiency[75]. - The company plans to expand its smart water business as a new growth point for performance[75]. - The company is exploring strategic acquisitions to enhance its product portfolio and market reach, with a budget of 200 million allocated for potential deals[92]. - The company plans to implement a training program focused on technological innovation, business expansion, smart manufacturing upgrades, and talent development for 2024[111]. Shareholder Relations and Transparency - The company has a dedicated investor relations team to ensure timely and accurate disclosure of significant information, enhancing transparency and communication with investors[85]. - The company held 1 shareholders' meeting during the reporting period, ensuring all shareholders, especially minority shareholders, could exercise their voting rights[82]. - The company maintains independence from its controlling shareholder in terms of operations, personnel, and finances, ensuring a complete and autonomous business system[84]. - The company has proposed to use part of its idle funds for cash management, reflecting a strategy to optimize asset utilization[90].

海兴电力（603556）公告，2024年营业收入47.17亿元，同比增长12.30%。归属于上市公司股东的净利 润10.02亿元，同比增长2.00%。公司2024年度利润分配预案为拟以实施权益分派股权登记日登记的总股 本为基数，向全体股东每10股派发现金股利人民币7元(含税)，本次公司不送红股也不实施资本公积转 增股本。 ...

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Key Points - The article discusses the recent developments in the renewable energy sector, particularly focusing on solar energy, wind energy, electric vehicles, and hydrogen fuel cells, highlighting the positive trends and potential investment opportunities in these industries [1][15][43]. New Energy - Shanghai Marine Bureau released the "Shanghai Marine Industry Development Plan (2025-2035)" focusing on offshore renewable energy [1] - The National Development and Reform Commission issued guidelines to promote high-quality development of the renewable energy green power certificate market [1] - Domestic solar power installations in January-February reached 39.47 GW, a year-on-year increase of 7% [4] - The export of solar battery components remained stable, with a total export of 47.7 GW in January-February, a decrease of 3% year-on-year [8] Wind Energy - The Shanghai Marine Bureau announced plans to promote deep-sea wind power projects, indicating a strong push for offshore wind energy development [15] - The global wind turbine market saw a total installation of 121.6 GW in 2024, with offshore wind accounting for 11.7 GW [18] - Domestic wind turbine manufacturers are expected to increase their market share overseas, driven by competitive pricing [19] Electric Vehicles & Lithium Batteries - NIO and CATL signed a strategic cooperation agreement to build a comprehensive battery swap network [38] - The sales of electric vehicles in China showed significant growth, with 42.7 million units sold in the first half of March, a year-on-year increase of 41% [28] - BYD launched its new models, Han L and Tang L, with competitive pricing and advanced technology [31] Hydrogen and Fuel Cells - Central state-owned enterprises are leading green hydrogen demonstration projects, with a significant increase in project bids [43] - The installation of fuel cell systems in January-February remained stable, with a total installed capacity of 40.84 MW [44]

Investment Rating - The report assigns a "Buy" rating for the company, with a target price of 58.0 CNY per share based on a 21x PE valuation for 2025, projecting a market value of 28.3 billion CNY [4]. Core Insights - The company has over 30 years of experience in the overseas smart meter market and has expanded into distribution and renewable energy sectors since 2015. Currently, overseas revenue accounts for over 60% of total revenue, with a year-on-year growth of 18% in the first half of 2024 [1][24]. - The global smart meter market is expected to grow from 17.6 billion USD in 2024 to 37.2 billion USD by 2032, with a CAGR of 9.8%. The demand for smart meters is driven by the long-term trend of grid modernization and renewable energy construction [2][49]. - The company is well-positioned in the market with 14 factories globally and exports to over 100 countries, anticipating a CAGR of nearly 15% in overseas electricity business revenue from 2024 to 2026 [1][4]. Summary by Sections Company Fundamentals - The company is a leading exporter of smart meters in China, focusing on overseas markets and expanding into distribution and renewable energy sectors. Its main business segments include smart electricity products and systems (86%), smart distribution products and systems (10%), and renewable energy products (4%) [15][16][18]. Overseas Market - The global smart meter market is projected to grow significantly, with emerging markets in Latin America, Africa, and Asia showing substantial growth potential. The company has a strong competitive advantage in overseas markets due to its early market entry and extensive channel resources [1][2][43]. - The company has established a strategic partnership with KERUN Intelligent Control to enhance its distribution capabilities in the overseas market [1]. Domestic Market - The domestic smart meter market is expected to grow, driven by strong demand for replacement and upgrades. The company is positioned as a top supplier, with stable market share and expected revenue growth of nearly 20% from 2024 to 2026 [3][4]. Profit Forecast and Valuation - The company is projected to achieve net profits of 1.14 billion CNY, 1.35 billion CNY, and 1.62 billion CNY for the years 2024, 2025, and 2026, respectively, with year-on-year growth rates of 16%, 19%, and 20% [4][7].

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 58.0 CNY per share based on a 21x PE valuation for 2025, leading to an estimated market value of 28.3 billion CNY [4]. Core Viewpoints - The company has over 30 years of experience in the overseas smart meter market and has expanded into distribution and renewable energy sectors since 2015. Currently, over 60% of its revenue comes from overseas, with a year-on-year growth of 18% in overseas revenue for the first half of 2024 [1][24]. - The global smart meter market is expected to grow from 17.6 billion USD in 2024 to 37.2 billion USD by 2032, with a CAGR of 9.8%. The company is well-positioned to benefit from this growth due to its strong market presence and technological capabilities [2][49]. - The company is expected to achieve a CAGR of nearly 15% in overseas electricity business revenue from 2024 to 2026, and over 80% and 50% in renewable energy and distribution business revenue, respectively, during the same period [1][2]. Summary by Sections Company Fundamentals - The company has been a leader in the smart meter export market and has actively expanded into distribution and renewable energy sectors. Its main business segments include smart electricity products and systems (86%), smart distribution products and systems (10%), and renewable energy products (4%) [15][16][17]. - The company has established a strong overseas presence, with 14 factories and operations in over 100 countries, maintaining an overseas revenue contribution of over 60% [24][28]. Overseas Market - The global demand for smart meters is expected to remain strong, driven by the long-term trends of grid modernization and renewable energy construction. The company is well-positioned in emerging markets where smart meter penetration is low [1][2]. - The report highlights that the company has a competitive advantage in overseas markets due to its early market entry and extensive channel resources [24][28]. Domestic Market - The domestic smart meter market is projected to grow, with significant demand for upgrading distribution networks. The company is expected to benefit from new standards and high investment levels from major state-owned enterprises [3][4]. - The company is positioned among the top suppliers for major domestic networks, with a stable market share expected to grow in the coming years [3][4]. Profit Forecast and Valuation - The company is projected to achieve net profits of 1.14 billion CNY, 1.35 billion CNY, and 1.62 billion CNY for the years 2024, 2025, and 2026, respectively, reflecting growth rates of 16%, 19%, and 20% [4][7]. - The report emphasizes the company's unique platform value and solution provider attributes, which are expected to lead to a revaluation of its stock [4].

证券代码：603556 证券简称：海兴电力 公告编号：2025-014 杭州海兴电力科技股份有限公司 关于回购股份注销暨股份变动的公告 具体内容详见披露在《上海证券报》、《证券时报》以及上海证券交易所网站 （www.sse.com.cn）上的《关于变更回购股份用途并注销的公告》（公告编号： 2025-005）、《关于变更注册资本并修订<公司章程>的公告》（公告编号：2025-006）、 《2025 年第一次临时股东大会公告》（公告编号：2025-008）。 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： 杭州海兴电力科技股份有限公司（以下简称"公司"）拟注销回购专用证 券账户中已回购的 2,419,870 股股份，占公司总股本的 0.4952%。注销完成后， 公司总股本将由 488,684,040 股减少为 486,264,170 股。 回购股份注销日：2025 年 3 月 12 日 一、 回购股份情况概述 公司于 2022 年 3 月 28 日召开第四届董事会第四次会议，审议通过了《关于 以集中竞价交易 ...