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 "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].

德业股份(605117) 2024 半年度业绩预告点评:光储全球多点开 花,Q2 业绩超预期 2024 年 07 月 04 日 买入(维持) | 盈利预测与估值 | 2022A | 2023A | 2024E | 2025E | 2026E | |------------------------|-----------|-----------|-----------|-----------|---------| | 营业总收入(百万元) | 5956 | 7480 | 12305 | 16251 | 20645 | | 同比( % ) | 42.89 | 25.59 | 64.51 | 32.07 | 27.04 | | 归母净利润(百万元) | 1517 | 1791 | 3022 | 3918 | 4894 | | 同比( % ) | 162.27 | 18.03 | 68.71 | 29.66 | 24.91 | | EPS- 最新摊薄(元 / 股) | 2.38 | 2.81 | 4.74 | 6.14 | 7.67 | | P/E (现价 & 最新摊薄) | 29.61 | 25.09 | 14.8 ...

宁波德业科技股份有限公司 关于自愿披露 2024 年半年度业绩预告的公告 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。 重要内容提示: 宁波德业科技股份有限公司(以下简称"公司")预计 2024 年半年度实 现归属于母公司所有者的净利润为 118,290.82 万元到 128,290.82 万元,与上年同 期(法定披露数据)相比,将增长-8,069.97 万元到 1,930.03 万元,同比增加-6.39% 到 1.53%。 预计 2024 年半年度实现归属于母公司所有者的扣除非经常性损益的净 利润为 111,826.46 万元到 121,826.46 万元,与上年同期(法定披露数据)相比, 将减少 26,856.52 万元到 16,856.52 万元,同比减少 19.37%到 12.15%。 一、本期业绩预告情况 (一)业绩预告期间 2024 年 1 月 1 日至 2024 年 6 月 30 日。 (二)业绩预告情况 经财务部门初步测算,预计 2024 年半年度实现归属于母公司所有者的净利 润为 118,290.82 ...

证券代码：605117 证券简称：德业股份 公告编号：2024-033 宁波德业科技股份有限公司 关于 2022 年股票期权激励计划 2024 年第二季度 自主行权结果暨股份变动的公告 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。 重要内容提示： 2022 年股票期权激励计划首次授予股票期权第一个行权期行权结果：宁 波德业科技股份有限公司（以下简称"公司"）2022 年股票期权激励计划首次授 予股票期权第一个行权期可行权股票期权数量为 405.7200 万份，实际可行权期 间为 2023 年 9 月 1 日至 2024 年 7 月 25 日，行权方式为自主行权。2024 年第二 季度，共行权并完成股份过户登记 8 股，占可行权股票期权总量的 0.0002%。 2022 年股票期权激励计划预留授予股票期权第一个行权期行权结果： 2022 年股票期权激励计划预留授予股票期权第一个行权期可行权股票期权数量 为 58.1615 万份，实际可行权期间为 2023 年 12 月 20 日至 2024 年 12 月 19 日， 行权 ...

Company Overview Industry or Company Involved - The document pertains to a company that released its annual financial report on April 25, 2024, specifically focusing on its performance in 2023 [1]. Core Points and Arguments - The company achieved an operating revenue of 7.48 billion (74.80亿元) in 2023, which represents a year-over-year increase of 25.59% compared to the operating revenue of 5.96 billion (59.56亿元) in the previous year [1]. - The net profit for the company in 2023 was 1.79 billion (17.91亿元), an increase from 1.52 billion (15.17亿元) in 2022, indicating positive growth in profitability [1]. Other Important but Possibly Overlooked Content - The significant growth in both operating revenue and net profit suggests a strong performance and potential for future investment opportunities within the company [1].