| 证券代码：603809 | 证券简称：豪能股份 | | 公告编号：2025-052 | | --- | --- | --- | --- | | 转债代码：113690 | 转债简称：豪 24 | 转债 | | 成都豪能科技股份有限公司 关于提前赎回"豪 24 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。 重要内容提示： 成都豪能科技股份有限公司（以下简称"公司"）股票自 2025 年 8 月 25 日至 2025 年 9 月 12 日期间，已有 15 个交易日的收盘价格不低于"豪 24 转 债"当期转股价格 6.33 元/股的 130%（即 8.23 元/股），已触发"豪 24 转债" 的有条件赎回条款。 公司于 2025 年 9 月 12 日召开第六届董事会第十七次会议，审议通过了 《关于提前赎回"豪 24 转债"的议案》，公司董事会决定行使"豪 24 转债"的 提前赎回权，按照债券面值加当期应计利息的价格对赎回登记日登记在册的"豪 24 转债"全部赎回。 投资者所持"豪 24 转债"除在规定时限内通过二 ...

豪能股份可转债持续督导 核查意见 招商证券股份有限公司（以下简称"招商证券"、"保荐机构"）作为成都豪 能科技股份有限公司（以下简称"豪能股份"、"公司"）向不特定对象发行可转 换公司债券的保荐机构，根据《中华人民共和国证券法》《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》《上海证券交易所上市公司自律监 管指引第 1 号——规范运作》《上海证券交易所上市公司自律监管指引第 11 号 ——持续督导》《可转换公司债券管理办法》和《上海证券交易所上市公司自律 监管指引第 12 号——可转换公司债券》等相关法律、法规和规范性文件的规定， 对豪能股份提前赎回"豪 24 转债"相关事宜进行了核查，核查具体情况如下： 招商证券股份有限公司 关于成都豪能科技股份有限公司 提前赎回"豪 24 转债"的核查意见 一、可转债发行上市概况 （一）可转债发行情况 根据中国证券监督管理委员会证监许可〔2024〕374 号文，公司于 2024 年 10 月 23 日向不特定对象发行 550 万张可转换公司债券（以下简称"可转债"）， 每张面值 100 元，发行总额 5.5 亿元。 （二）可转债上市情况 经上海证券交易所自 ...

| 证券代码：603809 | 证券简称：豪能股份 | | 公告编号：2025-051 | | --- | --- | --- | --- | | 转债代码：113690 | 转债简称：豪 24 | 转债 | | 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。 成都豪能科技股份有限公司（以下简称"公司"）于 2025 年 09 月 12 日（星 期五）14:00-17:00 参加了由四川省上市公司协会、深圳市全景网络有限公司联 合举办的"四川辖区 2025 年投资者网上集体接待日及半年度业绩说明会"活动， 现将活动有关情况公告如下： 一、本次业绩说明会召开情况 公司已于 2025 年 09 月 05 日在上海证券交易所网站（www.see.com.cn）及 指定信息披露媒体披露了《成都豪能科技股份有限公司关于参加四川辖区 2025 年投资者网上集体接待日及半年度报告业绩说明会的公告》（公告编号： 2025-049）。 2025 年 09 月 12 日 14:00-17:00，公司董事长向星星女士，总经理张勇先生， 独立董事余丽 ...

豪能股份（603809.SH） 费用增高影响当期的盈利水平，完善布局，多轮驱动发展 证券研究报告 | 公司动态点评 2025 年 09 月 09 日 | 财务指标 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入（百万元） | 1,946 | 2,360 | 2,861 | 3,458 | 4,155 | | 增长率 yoy（%） | 32.2 | 21.3 | 21.2 | 20.9 | 20.2 | | 归母净利润（百万元） | 182 | 322 | 394 | 516 | 664 | | 增长率 yoy（%） | -13.9 | 76.9 | 22.5 | 30.8 | 28.9 | | ROE（%） | 8.1 | 10.6 | 12.3 | 14.3 | 16.1 | | EPS 最新摊薄（元） | 0.21 | 0.37 | 0.46 | 0.60 | 0.77 | | P/E（倍） | 67.9 | 38.4 | 31.4 | 24.0 | 18.6 | | P/B（倍） ...

证券日报网讯 9月5日晚间，豪能股份发布公告称，自2025年8月25日至2025年9月5日，成都豪能科技股 份有限公司股票已有十个交易日的收盘价不低于"豪24转债"当期转股价格6.33元/股的130%（即8.23元/ 股）。若在未来连续二十个交易日内有五个交易日公司股票的收盘价不低于当期转股价格的130%（含 130%），将触发"豪24转债"的有条件赎回条款。 （文章来源：证券日报） ...

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。 ● 自 2025 年 8 月 25 日至 2025 年 9 月 5 日，成都豪能科技股份有限公司股票 已有十个交易日的收盘价不低于"豪 24 转债"当期转股价格 6.33 元/股的 130%（即 8.23 元/股）。若在未来连续二十个交易日内有五个交易日公司股票的收盘价不低于 当期转股价格的 130%（含 130%），将触发"豪 24 转债"的有条件赎回条款。届时 公司将召开董事会审议确定是否按照债券面值加当期应计利息的价格赎回全部或部 分未转股的"豪 24 转债"。 一、可转债发行上市概况 | 证券代码：603809 | 证券简称：豪能股份 | 公告编号：2025-050 | | --- | --- | --- | | 转债代码：113690 | 转债简称：豪 转债 24 | | 成都豪能科技股份有限公司 关于"豪 24 转债"预计满足赎回条件的提示性公告 根据中国证券监督管理委员会《关于成都豪能科技股份有限公司向不特定对象 发行可转换公司债券注册的批复》（证监许可〔2024〕 ...

| 证券代码：603809 | 证券简称：豪能股份 | 公告编号：2025-049 | | --- | --- | --- | | 转债代码：113690 | 转债简称：豪 24 转债 | | 成都豪能科技股份有限公司 会议召开地点：全景路演（https://rs.p5w.net） 会议召开方式：网络互动 （二）会议召开地点：全景路演（https://rs.p5w.net） 关于参加四川辖区 2025 年投资者网上集体接待日及 半年度报告业绩说明会的公告 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：2025 年 09 月 12 日（星期五） 14:00-17:00，其中网络互 动交流时间为 15:00-16:00 成都豪能科技股份有限公司（以下简称"公司"）已于 2025 年 08 月 30 日 发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度经营成果、财务状况，公司将参加由四川省上市公司协会、深圳市全景 网络有限公司联合举办的"四川辖区 2025 年 ...

Key Insights - The report emphasizes a strategy of selecting cyclical stocks and capitalizing on industry catalysts for investment opportunities [5] - The report highlights the recovery in real estate sales, with a slight increase in sales figures [6] - The storage industry is undergoing significant upgrades, particularly in HBM and 3D DRAM technologies, which are expected to drive market growth [9][10] - The food and beverage sector shows a mixed performance, with revenue recovery in some areas but significant profit differentiation among companies [16][23] - The light manufacturing sector is led by a dominant player in the folding bicycle market, showcasing strong brand, technology, and channel advantages [26] Strategy and Recommendations - The report recommends focusing on leading companies across various sectors, particularly those benefiting from AI developments and low valuations [7] - Specific investment suggestions include companies in consumer goods, energy, and real estate sectors, as well as those involved in AI and hardware [7] Industry Performance - The report provides a detailed analysis of the food and beverage industry, noting a 0.6% decline in revenue for the restaurant supply chain sector in H1 2025, while the condiment sector saw a 4.9% revenue increase [16][17] - The snack sector experienced a 2.2% decline in revenue in H1 2025, with significant profit pressure due to rising costs and competitive dynamics [23] - The dairy industry reported a 1.3% revenue increase in H1 2025, with a notable 48.5% profit increase in Q2 2025 [18] Company-Specific Insights - Newland (000997.SZ) reported a 10.54% increase in revenue for H1 2025, driven by cross-border payment and digital ID services [28] - Zhuolin Co., Ltd. (300100.SZ) achieved a 20.1% revenue growth in H1 2025, primarily due to its electric drive business [29] - The folding bicycle leader, Dahan Kegong, holds a 26.3% market share in retail volume and a 36.5% market share in retail value in 2024 [26]

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company's overall operations are on an upward trend, with successful progress in robot products. In H1 2025, the company achieved revenue of 1.25 billion yuan, a year-on-year increase of 10.3%, and a net profit attributable to shareholders of 184 million yuan, up 13.5% year-on-year [1][2] - The automotive parts segment saw a revenue of 1.06 billion yuan in H1 2025, growing 7% year-on-year, while the aerospace parts segment reported revenue of 170 million yuan, a 32% increase year-on-year [2] Summary by Sections Financial Performance - In H1 2025, the company's gross profit margin was 32.1%, a decrease of 1.8 percentage points year-on-year, while the net profit margin was 14.6%, an increase of 0.4 percentage points year-on-year. In Q2 2025, the gross profit margin remained stable at 32.1% year-on-year, with a net profit margin of 12.6%, down 4.2 percentage points quarter-on-quarter [3] - The company expects net profits for 2025-2027 to be 431 million, 542 million, and 661 million yuan respectively, with corresponding P/E ratios of 30.6, 24.3, and 20 [4] Business Segments - The automotive parts segment is experiencing a phase of adjustment in customer demand, with the company facing challenges due to some clients' demand fluctuations and new projects ramping up production capacity [2] - The company has developed high-precision planetary gear reducers and new types of cycloidal reducers, which are being applied in humanoid robots, robotic dogs, and exoskeletons [4] Market Position - The company has secured contracts with major clients such as Magna, Volkswagen, and Scania, which supports future performance growth [2] - The company benefits from regional supply chain advantages due to its headquarters in Sichuan and a subsidiary in Chongqing, which is close to key production bases [4]

Core Viewpoint - The company reported a revenue of 1.253 billion yuan for 1H25, representing a year-on-year increase of 10.3%, and a net profit attributable to shareholders of 184 million yuan, up 13.5% year-on-year. However, Q2 performance was below expectations due to increased expenses [1][2]. Business Performance - Aerospace and automotive parts businesses achieved revenues of 167 million yuan and 1.087 billion yuan respectively in 1H25, with year-on-year growth rates of 32.2% and 7.6%. The aerospace segment is expected to maintain rapid growth due to competitive advantages and new orders from civil aviation [1]. - The automotive parts segment is projected to see continued growth in differential products, while synchronizer products face short-term pressure due to customer demand adjustments [1]. R&D and Profitability - Increased R&D investment is anticipated to support long-term growth, with Q2 gross margin at 32.1%, a year-on-year increase of 0.1 percentage points. However, the net profit margin for Q2 decreased to 12.6%, down 1.4 and 4.2 percentage points year-on-year and quarter-on-quarter respectively [2]. - Management expenses rose primarily due to increased employee compensation and one-time relocation costs [2]. Strategic Investments - The company plans to invest 100 million yuan in its wholly-owned subsidiary, focusing on the construction of core components for intelligent manufacturing. This investment aims to enhance production capabilities in high-precision gear products for robotics applications [2]. Profit Forecast and Valuation - The company maintains its profit forecast for 2025 and 2026, with the current stock price corresponding to 32 and 25 times P/E for those years. The target price has been raised by 12% to 18.4 yuan, reflecting a 20% upside potential based on the rapid emergence of humanoid robotics business [3].