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"）于近日收到持有公司 21.84% 股份的控股股东朱袁正先生发来的《关于提请增加无锡新洁能股份有限公司 2024 年年度股东大会临时提案的函》，为提高决策效率，满足公司经营发展需 要，提请公司董事会增加《关于变更公司注册地址并同步修改公司章程的议案》 作为临时提案提交 2024 年年度股东大会进行审议。上述临时提案符合法律法规、 规范性文件及《公司章程》的有关规定，公司董事会同意将该议案提交至公司 2024 年年度股东大会审议。 证券代码：605111 证券简称：新洁能 公告编号：2025-026 无锡新洁能股份有限公司 关于变更公司注册地址并同步修改公司章程的公告 1、本次涉及《公司章程》其他部分的修订尚需提交 2024 年年度股东大会审 议，具体内容详见公司于 2025 年 4 月 25 日披露的《关于取消监事会并按照最新 规定修订<公司章程>及部分公司治理制度的公告》(公告编号:2025-022)。 2、上述章程条款的修订尚需提交股东 ...

Investment Rating - The report maintains a "Recommended" investment rating for the company, with a current stock price of 31.12 yuan [1]. Core Insights - The company achieved a revenue of 1.828 billion yuan in 2024, representing a year-on-year growth of 23.83%, and a net profit attributable to shareholders of 435 million yuan, up 34.50% year-on-year [4][7]. - In Q1 2025, the company reported a revenue of 449 million yuan, a 20.81% increase year-on-year, with a net profit of 108 million yuan, reflecting an 8.20% year-on-year growth [4][7]. - The company plans to distribute a cash dividend of 0.651 yuan per share, totaling approximately 26.97 million yuan [4]. Financial Performance Summary - Revenue and Profit Growth: - 2024 revenue: 1,828 million yuan (+23.83% YoY) - 2024 net profit: 435 million yuan (+34.50% YoY) - 2025 Q1 revenue: 449 million yuan (+20.81% YoY) - 2025 Q1 net profit: 108 million yuan (+8.20% YoY) [4][6][7]. - Profitability Metrics: - 2024 gross margin: 36.42% (+5.67 percentage points YoY) - 2024 net margin: 23.57% (+2.05 percentage points YoY) [7]. - Future Projections: - Expected net profits for 2025-2027: 544 million yuan, 664 million yuan, and 811 million yuan respectively [8][10]. - Expected EPS for 2025-2027: 1.31 yuan, 1.60 yuan, and 1.95 yuan respectively [10]. Product and Market Structure - The company focuses on optimizing product, market, and customer structures, with significant sales in sectors such as new energy vehicles, AI servers, and photovoltaic storage [7][8]. - The SGT-MOSFET product line saw a revenue increase of 43% YoY, contributing to 42.86% of total sales [8]. - The company is expanding its presence in high-end applications and deepening ties with leading clients in the new energy sector [8]. Financial Ratios - Key financial ratios for 2024-2027: - Gross margin: 36.4% (2024), 36.8% (2025E), 36.8% (2026E), 36.9% (2027E) - Net margin: 23.8% (2024), 24.2% (2025E), 24.2% (2026E), 24.2% (2027E) - ROE: 11.0% (2024), 12.3% (2025E), 13.3% (2026E), 14.3% (2027E) [10].

点击招商研究小程序查看PDF报告原文 新洁能25Q1营收4.5亿元，同比+21%/环比-5%，毛利率37%，同比+2pcts/环比+1pcts。公司发布2024 年报和2025年一季报，结合公告信息，点评如下： 公司25Q1营收同比稳健增长，单季毛利率保持相对稳定状态。 2024年：营收18.28亿元，同比 +23.83%，全年中低压产品价格得到修复，归母净利润4.35亿元，同比+34.5%，毛利率36.42%，同比 +5.67pcts，Q1-Q3毛利率逐季环比提升，Q4毛利率环比略有下降主要系产品结构调整影响，净利率 23.57%，同比+2.05pcts。25Q1：营收4.49亿元，同比+20.81%/环比-5.01%，归母净利润1.08亿元，同比 +8.2%/环比+5.76%，同比增速低于收入增速主要系研发费用增加和利息收入减少等因素影响，毛利率 36.58%，同比+1.82pcts/环比+0.61pct，净利率23.88%，同比-2.71pcts/环比+2.45pcts。 24年SGT MOS占比提升，全年产品销量增长抵消部分价格下降因素影响。 分产品类型看：1）SGT- MOS：24全年营收7.8亿元 ...

Investment Rating - The report maintains a "Buy" rating for the company, with expected profit growth rates of 27%, 24%, and 21% for the years 2025 to 2027 respectively [4] Core Insights - The company reported a revenue of 1.828 billion RMB for 2024, representing a year-on-year increase of 23.83%, and a net profit attributable to shareholders of 435 million RMB, up 34.50% year-on-year [2] - In Q1 2025, the company achieved a revenue of 449 million RMB, a 20.81% increase year-on-year, and a net profit of 108 million RMB, reflecting an 8.20% increase year-on-year [2] - The company is focusing on high-end market applications, expanding its influence in sectors such as AI, robotics, automotive electronics, and drones, with a significant increase in automotive electronics sales [3] Summary by Sections Performance Review - For 2024, the company achieved a total revenue of 1.828 billion RMB and a net profit of 435 million RMB, with Q4 2024 revenue at 473 million RMB, showing a 26.98% year-on-year increase [2] - In Q1 2025, the company reported a revenue of 449 million RMB and a net profit of 108 million RMB, with a gross margin increase of 1.9 percentage points to 36.58% [2] Market and Product Strategy - The company is enhancing its market presence by maintaining existing customer relationships while exploring new applications, particularly in high-end markets [3] - The automotive electronics segment has seen a significant increase, with over 200 vehicle-grade MOSFETs launched and sales up over 60% year-on-year [3] Financial Forecast - The projected net profits for 2025, 2026, and 2027 are 551 million RMB, 684 million RMB, and 826 million RMB respectively, with corresponding EPS of 1.33, 1.65, and 1.99 RMB [4] - The current stock price corresponds to a PE ratio of 24, 19, and 16 for the years 2025, 2026, and 2027 respectively [4]

证券代码：605111 证券简称：新洁能 公告编号：2025-024 无锡新洁能股份有限公司 关于闲置募集资金现金管理赎回的公告 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：2024 ...

Group 1 - The company has approved the 2025 annual compensation plan for senior management and confirmed the execution of the 2024 compensation plan with a unanimous vote of 6 in favor [1] - The company has reappointed the accounting firm Tianheng for the upcoming fiscal year, with a unanimous vote of 9 in favor [2] - The company has approved a special report on the use of raised funds for 2024, with a unanimous vote of 9 in favor [5] Group 2 - The company has approved the use of idle funds for cash management, with a unanimous vote of 9 in favor [6] - The company plans to apply for a credit facility of 1 billion yuan from CITIC Bank to support its operations and development [7] - The company has approved the provision for asset impairment with a unanimous vote of 9 in favor [9] Group 3 - The company has approved the evaluation report on the performance of Tianheng accounting firm for 2024, with a unanimous vote of 9 in favor [12] - The company has approved the special report on the independence of independent directors, with a unanimous vote of 9 in favor [14] - The company has approved the cancellation of the supervisory board and the revision of the company’s articles of association, with a unanimous vote of 9 in favor [15] Group 4 - The company has approved the election of non-independent directors for the new board, with a unanimous vote of 9 in favor [17] - The company has approved the election of independent directors for the new board, with a unanimous vote of 9 in favor [19] - The company has approved the convening of the 2024 annual shareholders' meeting, with a unanimous vote of 9 in favor [21] Group 5 - The company reported a net profit of 434,575,997.43 yuan for the year 2024 and proposed a cash dividend of 0.0651 yuan per share [66] - The total cash dividend and share repurchase amount for the year is 86,922,367.34 yuan, accounting for 20% of the net profit attributable to shareholders [66][70] - The company aims to maintain a cash dividend policy of at least 20% of the distributable profit each year, aligning with its long-term development strategy [73]

Core Viewpoint - The company, Xin Jie Neng, is a leading domestic semiconductor power device design enterprise, focusing on high-performance power semiconductor devices and integrated circuits, with a strong emphasis on innovation and market responsiveness [4][25][26]. Company Overview - Xin Jie Neng primarily supplies high-performance, high-quality, and reliable silicon-based and compound semiconductor power devices, integrated circuits, and module products [4]. - The company has established itself as a leader in the domestic high-end power semiconductor market, focusing on product design and promotion, and maintaining close cooperation with top international foundries [7][25]. Financial Performance - In the reporting period, the company achieved operating revenue of 1.828 billion yuan, a year-on-year increase of 23.83%, and a net profit attributable to shareholders of 434.58 million yuan, up 34.50% year-on-year [29]. - The growth in performance is attributed to the recovery of downstream industries, the trend of domestic substitution in power semiconductors, and the optimization of inventory levels [29][30]. Market Trends - The global semiconductor sales are projected to grow by 13.1% in 2024, reaching $697.2 billion by 2025, with the power semiconductor market expected to grow steadily due to its applications across various electronic manufacturing sectors [8]. - The power semiconductor market is expected to reach $50.3 billion in 2023 and $59.6 billion by 2027, with China’s market projected to reach $23.8 billion in 2024 [8]. Industry Applications - Power semiconductors are crucial in various applications, including electric vehicles, AI servers, data centers, industrial automation, and consumer electronics, with significant growth expected in these sectors [10][12][24]. - The automotive industry, particularly in the context of electric vehicles, is a key growth area, with the demand for power semiconductors expected to increase significantly due to the higher chip requirements of electric vehicles compared to traditional fuel vehicles [10][12]. Product Development - The company has developed a comprehensive range of products, including SGT MOSFET, SJ MOSFET, IGBT, and SiC MOSFET, with nearly 4,000 product models covering a voltage range from 12V to 1700V [25][26]. - The company is positioned to meet the growing demand in emerging markets such as electric vehicles, AI servers, and renewable energy applications, leveraging its technological advancements and product offerings [25][26]. Strategic Initiatives - The company plans to distribute a cash dividend of 0.651 yuan per share, amounting to approximately 26.97 million yuan, reflecting its commitment to shareholder returns while balancing future development needs [3][39].

证券代码：605111 证券简称：新洁能 公告编号：2025-021 无锡新洁能股份有限公司 2024 年度募集资金存放与实际使用情况的专项报告 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。 根据上海证券交易所发布的《上海证券交易所上市公司自律监管指引第 1 号——规范运作》及相关格式指引的规定，将无锡新洁能股份有限公司（以下简 称"本公司"或"公司"）截至 2024 年 12 月 31 日募集资金存放与使用情况报 告如下： 一、募集资金基本情况 （一）实际募集资金金额及到账时间 经中国证券监督管理委员会《关于核准无锡新洁能股份有限公司非公开发行 股票的批复》（证监许可[2022]957 号），核准公司向特定对象发行股票的注册 申请，因公司实施 2021 年年度权益分派，发行数量上限调整为 19,994,940 股。 公司已非公开发行人民币普通股（A 股）12,890,909 股，募集资金总额为人民币 1,417,999,990.00 元，扣除发行费用不含税金额人民币 16,946,878.11 元，实际募 集资金净额为人民 ...

证券代码：605111 证券简称：新洁能 公告编号：2025-020 无锡新洁能股份有限公司 关于董事会换届选举的公告 以上董事候选人均未受过中国证监会及其他有关部门的处罚和证券交易所 惩戒，上述董事候选人的任职资格符合相关法律、行政法规、规范性文件对董 事任职资格的要求。3位独立董事候选人均已同意出任公司第五届董事会独立董 事候选人，且与公司及公司控股股东、实际控制人不存在关联关系。 立董事候选人声明及提名人声明详见公司于上海证券交易所网站（www.sse.com. cn）披露的相关公告。 公司已按照规定向上海证券交易所报送独立董事候选人的有关资料，独立 董事候选人的任职资格和独立性已经获得上海证券交易所无异议审核通过。独 无锡新洁能股份有限公司（以下简称"公司"或"新洁能"）第四届董事会已 于近期届满。结合公司目前董事会构成及任职情况，为适应公司现阶段业务经 营及未来发展的实际需求，完善公司内部治理结构，根据《公司法》、《证券 法》、《上海证券交易所股票上市规则》等法律法规、规范性文件及《公司章 程》的有关规定，公司按程序进行了董事会换届选举工作。 公司于2025年4月24日召开第四届董事会第二十一次会议 ...

证券代码：605111 证券简称：新洁能 公告编号：2025-022 无锡新洁能股份有限公司关于取消监事会并按照 最新规定修订《公司章程》及部分公司治理制度的公告 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。 根据中国证券监督管理委员会发布的《关于新<公司法>配套制度规则实施 相关过渡期安排》、《上市公司章程指引》等相关法律法规的规定，结合公司第 四届董事会、监事会即将届满的实际情况，公司将不再设置监事会，监事会的职 权由董事会审计委员会行使，《无锡新洁能股份有限公司监事会议事规则》等监 事会相关制度相应废止，同时原公司章程及附件中关于"股东大会"的表述统一 修改为"股东会"，因此公司对《公司章程》及其附件进行修订，章程具体条款 修订情况如下，其他附件见公司上网文件。 | 现行条款 | 拟定后条款 | | --- | --- | | 第一条 为维护公司、股东和债权人的合法权益,规范 | 第一条 为维护公司、股东、职工和债权人的合法权 | | 公司的组织和行为,根据《中华人民共和国公司法》 | 益，规范公司的组织和行为，根据《 ...