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].

证券代码：605111 证券简称：新洁能 公告编号：2024-052 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, with a current stock price corresponding to PE valuations of 34x, 27x, and 22x for 2024, 2025, and 2026, respectively [1][7] Core Views - The company's 3Q24 revenue and net profit showed strong year-on-year growth, with total revenue reaching 1.356 billion yuan (+22.77% YoY) and net profit attributable to shareholders reaching 332 million yuan (+54.59% YoY) [1] - The company's profitability has been improving, with a gross margin of 38.04% in 3Q24, up 1.51 percentage points quarter-on-quarter, marking the fifth consecutive quarter of margin expansion [1] - Downstream market demand is recovering, and inventory turnover days decreased to 121.61 days in 3Q24, indicating improved sales performance [1] - The company is expected to achieve higher growth in automotive electronics and AI computing power through product platform upgrades and new product development [1] Financial Performance Summary Revenue and Profit - 1-3Q24 revenue: 1.356 billion yuan (+22.77% YoY) [1] - 1-3Q24 net profit attributable to shareholders: 332 million yuan (+54.59% YoY) [1] - 3Q24 revenue: 482 million yuan (+39.45% YoY, -3.91% QoQ) [1] - 3Q24 net profit attributable to shareholders: 70.27% YoY growth [1] Profitability - Gross margin in 3Q24: 38.04% (+1.51 ppts QoQ) [1] - Operating expenses: Sales and management expenses decreased by 19.27% and 20.55% YoY, respectively, while R&D expenses slightly decreased by 4.66% YoY [1] Forecast - Forecasted net profit for 2024-2026: 454 million yuan, 559 million yuan, and 692 million yuan, representing YoY growth of 41%, 23%, and 24%, respectively [1] - EPS for 2024-2026: 1.09 yuan, 1.35 yuan, and 1.67 yuan [1] Market and Industry Analysis - The company has successfully accelerated inventory digestion, with inventory turnover days decreasing to 121.61 days in 3Q24 [1] - Emerging application areas, such as automotive electronics and AI computing power, are expected to drive future growth [1] - The company has maintained a differentiated strategy, focusing on mid-to-high-end markets, which has contributed to its strong performance [1]

销售的产品主要还是以这个中低压的MOS对应的比较多所以这是光速市场我们就是觉得现在呢整体的可能就是说不像以前那么强但是他现在稳定下来了后面那个预期呢我们是持有就是逐步的一个能够逐步向上的一个乐观预期吧然后接着就是我们的一个汽车电子汽车电子是我们其实这几年重点发力的 然后这里面我们自己成立了一个单独的汽车电子事业部就是负责我们整个汽车电子的这种包括研发生产销售售后等等一些质量等等一系列的这种就是把控工作那通过这两年的一个后继爆发以及我们2021年以来在 比亚迪就是等线龙头厂龙头车厂呢就是说建立起来的一个品牌效应那我们就是说后级爆发在今年的春天以来实现了这个缺车店的一个大放量并且呢到目前为止我们汽车的这个订单缺车店的订单仍然属于一个 非常紧迫的一个状态这个可能跟就像我之前跟大家交流的一样就是说大家更可能跟部分投资者的预期就是说有所差异但是就是说我们是基于我们现有的一个基数基于整个汽车市场的一个空间以及发展以及我们这两年做出的努力让我们有更多的产品料耗的实现了在汽车客户端的一个导入然后呢 有这个超过一百家的这个天外和主车厂商我们实现了这个放量产品的超过了200多块我们自己的一个呃从就是原来的一些偏外围的一些应用领域 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown significant growth in Q3 2024, with revenue reaching 1.356 billion yuan, a year-on-year increase of 22.77%. The net profit attributable to shareholders increased by 54.59% to 332 million yuan, driven by market recovery and increased demand in emerging applications [2][3] - The company is well-positioned to benefit from growth in the automotive and AI server sectors, with a forecasted net profit of 459 million yuan for 2024, representing a 42.1% year-on-year increase [2][3] Financial Performance Summary - For Q3 2024, the company achieved 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. The gross margin improved to 38.04%, reflecting a 7.91 percentage point increase year-on-year [2][3] - The company forecasts net profits of 459 million yuan, 589 million yuan, and 752 million yuan for 2024, 2025, and 2026 respectively, with corresponding P/E ratios of 31.9, 24.9, and 19.5 [2][3] Product and Market Development - The company has launched multiple products in the automotive electronics sector, significantly increasing its collaboration with BYD, with a 50% year-on-year increase in supplied products in H1 2024 [3] - In the AI server market, the company is actively developing products to meet the growing demand for AI computing power, with successful sales to leading overseas clients in the GPU sector [3] Financial Forecast Summary - Revenue is projected to grow from 1.477 billion yuan in 2023 to 1.844 billion yuan in 2024, with a compound annual growth rate of 24.9% through 2026 [5][6] - The gross margin is expected to stabilize around 35.6% in 2024, with net profit margins improving to 24.9% [5][6]