证券代码：605117 证券简称：德业股份 公告编号：2024-051 宁波德业科技股份有限公司 关于注销部分股票期权的公告 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。 宁波德业科技股份有限公司（以下简称"公司"）于 2024 年 7 月 18 日召开 第三届董事会第七次会议、第三届监事会第五次会议，审议通过了《关于注销部 分股票期权的议案》。现将相关事项公告如下： 一、已履行的决策程序和信息披露情况 1、2022年7月5日，公司召开第二届董事会第十三次会议，审议通过了《宁 波德业科技股份有限公司2022年股票期权激励计划（草案）及其摘要》《宁波德 业科技股份有限公司2022年股票期权激励计划实施考核管理办法》《关于提请股 东大会授权董事会办理2022年股票期权激励计划相关事宜的议案》。公司独立董 事对此发表了独立意见。 同日，公司召开第二届监事会第十三次会议，审议通过了《宁波德业科技股 份有限公司2022年股票期权激励计划（草案）及其摘要》《宁波德业科技股份有 限公司2022年股票期权激励计划实施考核管理办法》《关 ...

关于《宁波德业科技股份有限公司股票交易异常波动的问询函》的回复 本人已收到公司发来的《宁波德业科技股份有限公司股票交易异常波动 的问询函》，经认真自查核实，现就该函问询的有关事项回复如下: '宁波德业科技股份有限公司: 贵司发来的《宁波德业科技股份有限公司股票交易异常波动的问询函》已收 悉,作为贵司的控股股东,本公司严格遵守《公司法》、《证券法》、《公司章 程》和其他法律法规的相关规定。经认真自查核实,现就该函问询的有关事项回 复如下: 1、本公司未在筹划涉及公司的重大资产重组、股份发行、收购、债务重组、 业务重组、资产剥离、资产注入、股份回购、股权激励、破产重组、重大业务合 作、引进战略投资者等重大事项。 2、在公司股票交易异常波动期间,本公司不存在买卖公司股票的情况,亦 不存在质押所持公司股份的情形。 3、根据《上海证券交易所股票上市规则》等有关规定,本公司不存在对股 票价格可能产生较大影响或影响投资者合理预期的应予披露而未披露的重大事 项。 特此复函。 宁波梅山保税港区艾思睿投资管理有限公司 关于《宁波德业科技股份有限公司股票交易异常波动的问询函》的 回复 宁波德业科技股份有限公司: 1 、作为公司的实 ...

宁波德业科技股份有限公司 股票交易异常波动公告 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： 证券代码：605117 证券简称：德业股份 公告编号：2024-036 宁波德业科技股份有限公司（以下简称"公司"或"本公司"）股票于 2024 年 7 月 11 日、7 月 12 日、7 月 15 日连续三个交易日内收盘价格涨幅偏离值累计 超过 20%。根据《上海证券交易所交易规则》的有关规定，属于股票交易异常波 动情形。 经公司自查并向控股股东及实际控制人核实，截至本公告披露日，不存 在应披露而未披露的重大信息。 公司敬请广大投资者注意二级市场交易风险，理性决策，审慎投资。 一、股票交易异常波动的具体情况 公司股票于 2024 年 7 月 11 日、7 月 12 日、7 月 15 日连续三个交易日内收 盘价格涨幅偏离值累计超过 20%。根据《上海证券交易所交易规则》的有关规定， 属于股票交易异常波动情形。 二、公司关注并核实的相关情况 （一）生产经营情况 经公司自查，公司目前生产经营活动一切正常，市场环境、 ...

证券代码：605117 证券简称：德业股份 公告编号：2024-035 宁波德业科技股份有限公司 关于 2024 年度"提质增效重回报"行动方案的公告 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。 为深入贯彻党的二十大和中央金融工作会议精神，落实国务院《关于进一步 提高上市公司质量的意见》的相关要求，响应上海证券交易所《关于开展沪市公 司"提质增效重回报"专项行动的倡议》，践行"以投资者为本"的上市公司发 展理念，维护全体股东利益，宁波德业科技股份有限公司（以下简称"公司"） 制定了 2024 年度"提质增效重回报"行动方案，并于 2024 年 7 月 12 日经公司 第三届董事会第六次会议审议通过。具体举措如下： 一、聚焦主业，为新质生产力"蓄势赋能" 2023 年度，全球市场充满机遇与挑战，光伏装机量保持高增长，伴随着能源 危机缓解欧洲户储需求回落、光伏制造端产能释放而供求关系发生变化等因素叠 加，导致市场形势复杂多变。公司通过差异化竞争、"走出去"的市场策略，加 速产品升级、完善产品矩阵，经营成果显著。公司实现营 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% relative to the industry index within the next six months [10]. Core Views - The company is experiencing a strong recovery in performance driven by the improving inverter market, with significant growth in revenue and net profit projected for the coming years [2][4]. - The company has strategically positioned itself in the inverter industry, focusing on channel development and product diversification, which has led to a substantial increase in shipments and market presence [2]. - The synergy between the energy storage battery pack and traditional business lines is enhancing profitability, with notable growth in both segments [2]. Financial Summary - Revenue is projected to grow from 7,480 million in 2023 to 12,166 million in 2024, reflecting a year-on-year growth rate of 62.7% [1]. - Net profit is expected to increase from 1,791 million in 2023 to 2,870 million in 2024, with a year-on-year growth rate of 60.3% [1]. - The company's return on equity (ROE) is forecasted to be 39.9% in 2024, indicating strong profitability [1]. - Earnings per share (EPS) is projected to rise from 2.81 in 2023 to 4.50 in 2024 [1][6]. Industry Context - The inverter industry is recovering from previous high base effects and inventory accumulation, with exports showing consistent month-on-month growth since February [2]. - The global market for solar storage installations is expanding, driven by diverse electricity environments and grid conditions, which increases the demand for advanced inverter solutions [2]. - The company is capitalizing on emerging markets in Africa, Asia, and South America, enhancing its competitive edge through localized service and product development [2].

Investment Rating - The report maintains a "Recommended" rating for the company, with an expected target price of 88.38 CNY based on a 20x PE for 2024 [5][17]. Core Views - The company is expected to benefit from the explosive demand in emerging markets and the gradual recovery of European demand, leading to a significant increase in its inverter business [2][3]. - The company's net profit for H1 2024 is projected to be between 1.183 to 1.283 billion CNY, showing a year-on-year change of -6.39% to +1.53% [2]. - The second quarter of 2024 is anticipated to show a net profit of 750 to 850 million CNY, representing a year-on-year increase of 11.15% to 25.96% and a quarter-on-quarter increase of 73.25% to 96.35% [2]. Financial Performance Summary - Total revenue for 2024 is expected to reach 11.78 billion CNY, reflecting a year-on-year growth of 57.5% [3]. - The net profit attributable to the parent company is projected to be 2.82 billion CNY for 2024, with a growth rate of 57.5% compared to the previous year [3]. - The company’s earnings per share (EPS) is forecasted to be 4.42 CNY in 2024, with a PE ratio of 17 [3]. Market Demand and Business Growth - The company has seen strong demand in emerging markets such as Brazil, India, and Southeast Asia, with inverter exports to these regions showing significant year-on-year growth rates of 123%, 184%, and 351% respectively [2]. - The battery pack business is expected to continue expanding, with high profitability anticipated due to the decreasing costs of battery cells [2]. - The traditional home appliance segment, particularly dehumidifiers, has performed well, with the company maintaining the top sales position in online platforms for eight consecutive years [2].

单瓦时的价格还有低压护储PCS的单瓦价格也是比高压系统要低的另外还有低压护储在安装上是非常便利的相对来说 对高压来说的话,一个是相对能减省一些安装的人工的费用,以及人工的占用时间的这种情况也是相对低一些的。所以整体来说,低压库储的产品确实在东南亚市场、巴基斯坦这些市场天然也是具有优势的。 那这个是一个是产品版然后另外就是整个市场的这个匹配度需求的匹配度正好匹配上了所以这是今年整个户处这一块在东南亚巴基斯坦这些市场包括中东现在也是有一些户处的一些需求的所以这一块的话我们觉得是行业今年是比较潮雨期的点那另外像欧洲的话其实 大家比较熟知的是在这个就是无冲突带来的这个户处需求的一个爆发那今年是整个从去年下半年到今年就基本上是处在了这个欧洲户处去库的这样一个状态核心的一个原因还是因为欧洲整个的这个电价呢就是是往下降的那么降虽然降还没有降到非常低的这样一个水平但整体的对欧洲户处的这个受益率呢是有一些影响的 所以一个是去库另外就是整个的需求也是受到一定的影响所以整个的这种去库的进度是受到了一个比较大的变化这也是市场也一直没有预期到的或者说对这一块也整个的户处的去库的进度一直是属于推迟的状态 那整体来说可能大家对欧洲户处最新 ...

德业股份(605117.SH) 买入-A(首次) 新兴市场需求旺盛,Q2 业绩增长超预期 2024 年 7 月 9 日 公司研究/公司快报 公司近一年市场表现 事件描述 公司发布 2024 年半年度业绩预告,2024H1 实现归母净利润 11.8~12.8 亿元,同比-6.4%~+1.5%;其中,2024Q2 实现归母净利润 7.5~8.5 亿元,同 比+11.1%~25.9%,环比+73.2%~96.3%,超市场预期。 事件点评 亚非拉市场享领先优势,带动 Q2 利润高增。2024 年上半年巴西、印度、 德国等市场并网需求持续改善,东南亚、中东等新兴市场户储需求爆发。2024 亿元,同比+10.2%。印度、巴基斯坦、缅甸、越南等国家表现尤为突出,1-5 +99.1%。 年 1-5 月,中国逆变器出口亚洲 70.1 亿元,同比+24.5%;出口拉丁美洲 30.7 月中国向上述四国的逆变器出口金额分别同比+84.5%、+251.9%、+105.4%、 公司 Q2 业绩环比高增主要得益于:逆变器方面,公司在亚非拉等新兴 市场具有领先优势,出货势头强劲;在欧洲市场也快速拓展,市场份额持续 提升。此外,储能电池包业务 ...

Investment Rating - The report maintains a "Buy" rating for the company [4][5]. Core Views - The company is expected to benefit significantly from the booming demand for solar storage in emerging markets, with a notable increase in inverter exports to countries like Pakistan, India, Nigeria, Vietnam, Saudi Arabia, and Thailand [3]. - The company is accelerating its expansion into the European market, which is expected to enhance its market share and sales volume [3]. - The energy storage battery pack business is rapidly developing, with integrated products leading to increased revenue and improved profitability due to declining costs [3]. Financial Summary - The company forecasts a net profit of 11.8 to 12.8 billion yuan for H1 2024, reflecting a year-on-year change of -6.4% to +1.5% [2]. - For Q2 2024, the expected net profit is between 7.5 to 8.5 billion yuan, showing a year-on-year increase of 11.1% to 25.9% [2]. - The revenue projections for 2024 to 2026 are adjusted to 28 billion, 35 billion, and 42 billion yuan respectively, with increases of 26%, 24%, and 21% [3]. Market Dynamics - The report highlights a significant increase in solar storage demand in emerging markets, driven by a reduction in costs for photovoltaic components and storage systems [3]. - The company has established a strong presence in the Asia-Pacific and African markets, positioning itself well to capitalize on the growing demand [3]. - The European market is also showing signs of recovery, with expectations for increased demand for household storage solutions [3].

Investment Rating - The report upgrades the investment rating to "Buy" with a target price of RMB 94.80 [6][7]. Core Views - The company is expected to achieve a significant year-on-year increase in net profit for Q2, with estimates ranging from RMB 7.5 billion to RMB 8.5 billion, reflecting a growth of 11.10% to 25.91% compared to the previous year [1]. - The report anticipates strong growth in the overseas household market, leading to an upward revision of the net profit forecast for 2024-2026 to RMB 30.22 billion, RMB 36.05 billion, and RMB 42.83 billion respectively [1][8]. - The company has demonstrated strong channel development capabilities, capturing significant market shares in emerging markets, with over 60% in Southeast Asia and more than 60% in Pakistan [3]. Summary by Sections Financial Performance - The company expects to achieve a net profit of RMB 11.83 to RMB 12.83 billion for the first half of 2024, with a year-on-year change of -6.39% to +1.53% [1]. - Q2 net profit is projected to be RMB 7.5 to 8.5 billion, with a quarter-on-quarter increase of 73.19% to 96.28% [1]. - The average gross margin for inverter products in Q1 was 46.41%, with storage inverters at 50.19% [3]. Market Expansion - The company shipped 235,100 inverters in Q1, including 82,000 storage inverters, and expects to ship 640,000 to 650,000 inverters in Q2 [2]. - The report highlights the company's successful penetration into various overseas markets, including significant sales in Europe, Southeast Asia, and the Middle East [2][3]. Product Development - The storage battery pack business saw a revenue of RMB 884 million in 2023, a year-on-year increase of 965.43% [4]. - The company is leveraging its inverter channels to expand into the storage battery pack market, expecting substantial growth in H2 2024 [4][8]. Valuation Metrics - The report estimates the company's PE ratio for 2024 at 20 times, compared to the average PE of 19 times for comparable companies [1][8]. - The projected revenue for 2024 is RMB 12.31 billion, with a year-on-year growth of 64.62% [5].