无锡新洁能股份有限公司 2024 年股票期权激励计划（草案）摘要公告 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： 股权激励方式：股票期权 股份来源：向激励对象定向发行的本公司人民币 A 股普通股股票和/或 从二级市场回购的本公司人民币 A 股普通股股票 本激励计划拟向激励对象授予的股票期权数量为 105.3580 万股，约占本 激励计划公告时公司股本总额 41,533.2567 万股的 0.25%。本次授予为一次性授 予，不设置预留权益。 一、公司基本情况 证券代码：605111 证券简称：新洁能 公告编号：2024-057 （一）公司简介 法定代表人：朱袁正 董事会秘书：肖东戈 住所：江苏省无锡市新吴区电腾路 6 号 经营范围：电力电子元器件的制造、研发、设计、技术转让、技术服务、销 售；集成电路、电子产品的研发、设计、技术转让、技术服务、销售；计算机软 件的研发、技术转让；利用自有资产对外投资；环境保护专用设备的制造、销售； 自营和代理各类商品及技术的进出口业务（国家限定企业经营或禁止进出口的商 ...

无锡新洁能股份有限公司 2024 年股票期权激励计划（草案） 证券简称：新洁能 证券代码：605111 无锡新洁能股份有限公司 2024 年股票期权激励计划 （草案） 无锡新洁能股份有限公司 二〇二四年十二月 无锡新洁能股份有限公司 2024 年股票期权激励计划（草案） 声 明 本公司及全体董事、监事保证本激励计划及其摘要不存在虚假记载、误导性 陈述或重大遗漏，并对其真实性、准确性、完整性承担个别和连带的法律责任。 本公司所有激励对象承诺，若公司因信息披露文件中有虚假记载、误导性陈 述或者重大遗漏，导致不符合授予权益或行使权益安排的，激励对象应当自相关 信息披露文件被确认存在虚假记载、误导性陈述或者重大遗漏后，将由本激励计 划所获得的全部利益返还公司。 2 / 36 无锡新洁能股份有限公司 2024 年股票期权激励计划（草案） 特别提示 一、本激励计划系依据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司股权激励管理办法》等其他有关法律、法规、规范性文件，以及《无 锡新洁能股份有限公司章程》制订。 二、本激励计划采取的激励工具为股票期权。股票来源为无锡新洁能股份有 限公司（以下简称"公司"或"本公 ...

无锡新洁能股份有限公司监事会 关于公司2024年股票期权激励计划相关事项的核查意见 根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华人民共和 国公司法》（以下简称"《公司法》"）、《上市公司股权激励管理办法》（以下简称 "《管理办法》"）和《无锡新洁能股份有限公司章程》（以下简称"《公司章程》"） 等法律、法规和规范性文件的有关规定，监事会对无锡新洁能股份有限公司（以 下简称"公司"）2024年股票期权激励计划（以下简称"本次股权激励计划"）相关 的《无锡新洁能股份有限公司2024年股票期权激励计划（草案）》（以下简称"《激 励计划（草案）》"）、《无锡新洁能股份有限公司2024年股票期权激励计划实施考 核管理办法》、《无锡新洁能股份有限公司2024年股票期权激励计划激励对象名单》 （以下简称"《激励对象名单》"）及其他相关资料进行了核查，并发表如下核查 意见： 1、公司不存在《管理办法》等法律、法规规定的禁止实施股权激励计划的 情形，包括： （1）最近一个会计年度财务会计报告被注册会计师出具否定意见或者无法 表示意见的审计报告； （2）最近一个会计年度财务报告内部控制被注册会计师出具否定意见或 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [6] Core Insights - The company is a leading domestic power semiconductor manufacturer, advancing in both medium and low-voltage MOSFETs and high-voltage IGBTs. It has four main product platforms, with SGT MOS, Trench MOS, IGBT, and SJ MOS contributing to revenue in the first half of 2024 [4][6] - The company is positioned to benefit from the recovery in industry demand, with expected revenue growth rates of 25.91%, 24.48%, and 22.81% for 2024, 2025, and 2026 respectively [6] - The company has established a strong supply chain with upstream wafer foundries and downstream packaging and testing capabilities, creating a robust competitive advantage [5][6] Summary by Sections Company Overview - The company, founded in 2013, specializes in the research, design, and sales of MOSFETs and IGBTs, with a comprehensive product range covering voltages from 12V to 1700V [29] - It has a significant market share in the domestic MOSFET market, which is the largest globally, and is actively expanding into emerging applications such as AI and electric vehicles [4][29] Product Platforms - The company has four main product platforms: SGT MOS, Trench MOS, IGBT, and SJ MOS, with SGT MOS being the fastest-growing and most profitable [39] - The revenue contribution from SGT MOS is expected to be 41.44% in the first half of 2024, while Trench MOS, IGBT, and SJ MOS contribute 29.30%, 16.20%, and 11.78% respectively [39] Financial Performance - The company forecasts revenues of 18.59 billion, 23.14 billion, and 28.42 billion yuan for 2024, 2025, and 2026, with net profits of 4.60 billion, 5.81 billion, and 7.32 billion yuan respectively [6][7] - The gross margin is expected to improve, with a projected gross margin of 35.87% in 2024 [7] Market Position and Strategy - The company is deeply integrated with upstream wafer foundries and has established a virtual IDM model, enhancing its competitive moat [5][6] - It is focusing on expanding its presence in high-growth sectors such as renewable energy, AI servers, and electric vehicles, which are expected to drive future growth [45]

证券代码：605111 证券简称：新洁能 公告编号：2024-054 无锡新洁能股份有限公司 关于闲置募集资金现金管理到期赎回的公告 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。 无锡新洁能股份有限公司（以下简称"公司"）于 2024 年 8 月 12 日召开第四 届董事会第十七次会议和第四届监事会第十五次会议审议通过了《关于使用暂时 闲置的募集资金进行现金管理的议案》，同意公司在确保不影响募集资金项目开 展和使用计划的前提下，使用最高额度不超过 115,000 万元人民币的暂时闲置的 非公开发行募集资金进行现金管理，投资于安全性高、流动性好的投资产品，本 次公司使用非公开发行闲置募集资金购买投资产品的投资期限不超过 12 个月， 在前述期限内可由公司滚动使用，并于到期后归还至募集资金专户。公司使用闲 置募集资金进行现金管理将严格遵守上海证券交易所关于上市公司募集资金管 理的相关规定。 具体内容详见公司在上海证券交易所网站（www.sse.com.cn）披露的《关于 使用暂时闲置的募集资金进行现金管理的公告》（公告编号：20 ...

证券代码：605111 证券简称：新洁能 公告编号：2024-053 无锡新洁能股份有限公司 关于闲置募集资金现金管理到期赎回的公告 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。 无锡新洁能股份有限公司（以下简称"公司"）于 2024 年 8 月 12 日召开第四 届董事会第十七次会议和第四届监事会第十五次会议审议通过了《关于使用暂时 闲置的募集资金进行现金管理的议案》，同意公司在确保不影响募集资金项目开 展和使用计划的前提下，使用最高额度不超过 115,000 万元人民币的暂时闲置的 非公开发行募集资金进行现金管理，投资于安全性高、流动性好的投资产品，本 次公司使用非公开发行闲置募集资金购买投资产品的投资期限不超过 12 个月， 在前述期限内可由公司滚动使用，并于到期后归还至募集资金专户。公司使用闲 置募集资金进行现金管理将严格遵守上海证券交易所关于上市公司募集资金管 理的相关规定。 具体内容详见公司在上海证券交易所网站（www.sse.com.cn）披露的《关于 使用暂时闲置的募集资金进行现金管理的公告》（公告编号：20 ...

Investment Rating - The report maintains a "Buy" rating for the company [5][7]. Core Views - The company achieved a revenue of 1.36 billion in the first three quarters of 2024, representing a year-over-year increase of 22.8%. The net profit attributable to the parent company was 332 million, up 54.6% year-over-year [5]. - In Q3 2024, the company reported a revenue of 482 million, a year-over-year increase of 39.5%, while the net profit attributable to the parent company was 115 million, reflecting a year-over-year growth of 70.3% [5][6]. - The company is actively optimizing its product structure, with significant contributions from industrial automation (42%), photovoltaic energy storage (14%), automotive electronics (13%), AI computing and communication (9%), consumer products (18%), and smart transportation (4%) [6]. - The company has seen a reduction in inventory, with inventory levels at 320 million, down 196 million from the previous year [6]. Financial Summary - For 2024, the company is projected to achieve total revenue of 1.808 billion, with a year-over-year growth rate of 22.4%. The net profit is expected to reach 455 million, reflecting a growth rate of 40.8% [8]. - The gross margin for Q3 2024 was reported at 38.04%, an increase of 7.91 percentage points year-over-year and 1.51 percentage points quarter-over-quarter [6][7]. - The report has revised the profit forecast upwards for 2024-2026, with net profit estimates of 455 million, 581 million, and 683 million respectively [7].

Investment Rating - The investment rating for the company is "Buy" [10] Core Views - The company reported a significant year-on-year improvement in performance, with Q3 2024 revenue of 482 million yuan, a year-on-year increase of 39.45% and a net profit of 115 million yuan, up 70.27% year-on-year [2][6] - The improvement in performance is attributed to the gradual recovery of the downstream market since the 2024 Spring Festival, increased demand in emerging application areas, accelerated inventory digestion, and continuous improvement in sales [6] - The company is actively expanding into new fields such as AI computing servers and low-altitude economy, with products already applied in key components for drones and achieving large-scale sales [6] Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved revenue of 1.356 billion yuan, a year-on-year growth of 22.77%, and a net profit of 332 million yuan, up 54.59% year-on-year [6] - Q3 2024 gross margin was 38.04%, an increase of 7.91 percentage points year-on-year, while net margin was 23.59%, up 4.37 percentage points year-on-year [2][6] Future Projections - Revenue projections for 2024-2026 are 1.845 billion yuan, 2.289 billion yuan, and 2.796 billion yuan, with year-on-year growth rates of 24.97%, 24.03%, and 22.17% respectively [6][7] - Net profit projections for the same period are 457 million yuan, 564 million yuan, and 696 million yuan, with growth rates of 41.36%, 23.49%, and 23.43% respectively [6][7] Valuation Metrics - The company’s earnings per share (EPS) for 2024-2026 are projected to be 1.10 yuan, 1.36 yuan, and 1.68 yuan, with corresponding price-to-earnings (P/E) ratios of 33, 26, and 21 [7] - The current market capitalization is approximately 14.9 billion yuan, with a current price of 35.88 yuan per share [4]

Investment Rating - The report maintains a "Buy-A" rating for the company [2][4]. Core Views - The company has shown steady growth in performance, with a year-on-year revenue increase of 22.77% for the first three quarters of 2024, reaching 1.356 billion yuan, and a net profit increase of 54.59%, totaling 332 million yuan [2][3]. - The third quarter of 2024 saw a revenue of 482 million yuan, reflecting a year-on-year growth of 39.45% but a slight quarter-on-quarter decline of 3.91% due to weakened demand from downstream customers in the light storage sector [3][4]. - The gross margin for the first three quarters of 2024 was 36.58%, an increase of 6.17 percentage points year-on-year, while the net profit margin was 24.32%, up 5.14 percentage points year-on-year [3][4]. Financial Performance - The company forecasts revenues of 1.871 billion yuan, 2.346 billion yuan, and 2.864 billion yuan for 2024, 2025, and 2026 respectively, with net profits projected at 452 million yuan, 570 million yuan, and 716 million yuan for the same years [4][7]. - The estimated P/E ratios for 2024, 2025, and 2026 are 31.3, 24.8, and 19.8 respectively, indicating a favorable valuation trend [4][7]. - The company has a projected EPS of 1.09 yuan for 2024, increasing to 1.72 yuan by 2026 [7][8]. Market Dynamics - The company is capitalizing on emerging market demands, particularly in AI computing and communication sectors, while also expanding its customer base in traditional industries such as automotive [4][3]. - The company has successfully integrated products into the AI computing server market, positioning itself to benefit from long-term growth in AI-related demands [4][3].

Investment Rating - The investment rating for the company is "Outperform the Market" [3][9]. Core Views - The company has achieved a quarter-on-quarter increase in gross margin for five consecutive quarters, with a gross margin of 38.04% in Q3 2024, reflecting a year-on-year increase of 7.9 percentage points [1]. - Revenue for Q3 2024 reached 482 million yuan, a year-on-year increase of 39.45%, while net profit attributable to the parent company was 115 million yuan, up 70.27% year-on-year [1]. - The automotive and AI computing sectors are experiencing accelerated growth, with significant deliveries to nearly 100 Tier 1 manufacturers and new customer acquisitions in the automotive sector [1]. - The company is optimistic about the expansion opportunities for its SGT MOS products and the long-term layout of its IC products, despite short-term pressures on the IGBT business due to weak photovoltaic demand [1]. Financial Forecasts - The company is expected to achieve net profits of 462 million yuan, 580 million yuan, and 665 million yuan for the years 2024, 2025, and 2026, respectively, representing year-on-year growth rates of 43%, 26%, and 15% [1][2]. - The projected price-to-earnings ratios (PE) for 2024, 2025, and 2026 are 32, 25, and 22 times, respectively [1][2]. Revenue and Profitability - The company's revenue is forecasted to be 1.846 billion yuan in 2024, with a year-on-year growth of 25%, followed by 2.299 billion yuan in 2025 and 2.695 billion yuan in 2026 [2]. - The net profit for 2024 is projected at 462 million yuan, with a significant increase from 323 million yuan in 2023 [2]. Product and Market Development - The company has successfully delivered automotive-grade products to a growing number of clients, enhancing its market presence in the automotive sector [1]. - The SGT MOS product line is positioned to replace international competitors' products, with ongoing improvements in performance and certification for automotive applications [1].