证券日报网1月26日讯，禾迈股份在接受调研者提问时表示，目前研发和销售人员合计大约900余人。这 也是公司近几年的重点布局和规划，为公司长期持续稳定发展提供坚实基础。 ...

Core Viewpoint - HeMai Co., Ltd. is transitioning from a single equipment supplier to a comprehensive light-storage solution provider, optimizing its product structure and organizational framework during this process [1] Group 1: Organizational Changes - The company has refined its internal strategic modules and detailed its market layout externally [1] - The previous flat functional division has been segmented into three business units and six product lines, ensuring end-to-end responsibility for product development to market launch [1] Group 2: Marketing and Global Operations - HeMai Co., Ltd. is enhancing its marketing service team and continuously improving its global operational system [1] - The company has nearly completed the localization of operational management in its main sales regions [1]

证券日报网1月26日讯，禾迈股份在接受调研者提问时表示，2025年对比2024年研发、销售费用大幅增 长。未来几年会保持一个温和增长的态势，不会有剧烈的大幅波动。 ...

禾迈股份首次公开发行股票募集资金总额为55.78亿元，扣除发行费用后募集资金净额为54.06亿 元。该公司最终募集资金净额比原计划多48.48亿元。禾迈股份于2021年12月15日披露的招股说明书显 示，该公司拟募集资金5.58亿元，拟分别用于禾迈智能制造基地建设项目、储能逆变器产业化项目、智 能成套电气设备升级建设项目、补充流动资金。 禾迈股份首次公开发行股票的发行费用总额为1.72亿元，其中，承销费及保荐费1.42亿元。 中国经济网北京1月26日讯 禾迈股份(688032.SH)今日收报111.50元，跌幅7.04%。该股目前处于破 发状态。 2024年6月13日，禾迈股份公告分红方案，每10股派息(税前)36元，转增4.9股，除权除息日为2024 年6月19日。 禾迈股份于2021年12月20日在上交所科创板上市，发行价格为557.80元/股，发行股票数量为 1000.00万股，保荐人（主承销商）为中信证券股份有限公司，保荐代表人为金波、董超。 (责任编辑：何潇) 2022年5月30日，禾迈股份公告分红方案，每10股派息(税前)30元，转增4股，除权除息日为2022年 6月7日。 2023年6月6日，禾 ...

Summary of HeMai Co., Ltd. Conference Call Company Overview - **Company**: HeMai Co., Ltd. (禾迈股份) - **Industry**: Energy Storage and Renewable Energy Solutions Key Points Financial Performance - In 2025, HeMai's revenue from large-scale energy storage (大储) exceeded 300 million RMB with a gross margin of 15% [2] - The company anticipates at least 1 billion RMB in revenue from large-scale energy storage in 2026, with the first quarter potentially achieving half of the annual target [2][5] - HeMai expects to incur a loss of over 100 million RMB in 2026, despite achieving over 600 million RMB in revenue in Q4 2025 [3][28] - The gross margin is projected to reach 30%-40% in 2026 [4][21] Market Strategy - HeMai focuses on developed markets such as Europe, the US, and Australia, as well as emerging markets in the Middle East and Latin America [2][6] - The company employs a differentiated product strategy to enhance market position and profitability [2] - HeMai's large-scale energy storage business is a strategic priority, with plans to strengthen supply chain capabilities to meet future demand [5][7] Product Development and Innovation - HeMai has expanded its R&D team to 200-300 members, focusing on centralized and string inverters, as well as AC coupling systems [8] - The company has successfully launched new product lines in the household energy storage sector, expecting significant growth in 2026 [4][18] - HeMai is transitioning from traditional energy solutions to integrated energy systems, aiming for a comprehensive approach to energy management [8][32] Challenges and Risks - Rising battery cell prices are impacting the large-scale energy storage business, but the company maintains a controlled overall gross margin through risk management and price transmission strategies [10] - The increase in lithium carbonate prices may temporarily affect domestic project demand, but global demand for energy storage remains strong [11] - HeMai faces competition from established players like Sungrow and CATL, necessitating continuous improvement and innovation [14][32] Future Outlook - HeMai expects to see revenue growth in Q1 2027, with a gradual improvement in quarterly performance [29] - The company aims to leverage its technological advancements and market expansion to enhance profitability in the coming years [3][38] - HeMai is committed to becoming a leading player in the energy storage sector, with a focus on product excellence and marketing integration [38] Regional Focus - The Middle East and Europe are identified as key markets for large-scale energy storage, with a focus on affluent customers in these regions [7] - The company acknowledges the high entry barriers in the Australian and US markets, which may limit short-term contributions [6][7] Competitive Position - HeMai's competitive edge lies in its brand reputation and technological capabilities, particularly in safety and reliability for energy storage applications [6] - The company is working to improve its market position against competitors by enhancing product offerings and operational efficiency [14][32] Investment and Resource Allocation - HeMai plans to maintain a stable investment level in R&D and marketing, focusing on optimizing existing resources rather than significant increases [34] - The company currently employs around 600 R&D personnel and over 300 in marketing services, totaling nearly 1,000 employees [35] This summary encapsulates the key insights from HeMai Co., Ltd.'s conference call, highlighting its financial performance, market strategies, product development, challenges, and future outlook.

Core Viewpoint - HeMai Co., Ltd. (688032) anticipates a net profit loss of between 165 million to 135 million yuan for the year 2025, representing a year-on-year decline of 139% to 148% compared to the previous year [1] Group 1: Financial Performance - The company projects a significant loss in net profit for 2025, indicating a shift from profitability to losses [1] - The expected loss range is between 165 million to 135 million yuan, highlighting a substantial decline in financial performance [1] Group 2: Strategic Transformation - HeMai Co., Ltd. is transitioning from a single equipment supplier to a comprehensive light-storage solution provider [1] - This strategic shift is impacting the company's overall gross margin due to changes in product structure [1] - The company is investing heavily in talent acquisition and increasing expenditures in research and sales [1]

Core Viewpoint - HeMai Co., Ltd. is expected to report a significant loss for the fiscal year 2025, with projected net profit attributable to the parent company ranging from -165 million to -135 million yuan, indicating a substantial decline compared to the previous year [1] Financial Performance - The anticipated loss represents a decrease of 479.22 million to 509.22 million yuan compared to the same period last year [1] - Year-on-year decline in net profit is projected to be between 139% and 148% [1]

Core Viewpoint - HeMai Co., Ltd. (688032) announced on January 23 that it expects a net profit loss attributable to the parent company of between 135 million to 165 million yuan for 2025, marking a shift from profit to loss year-on-year due to changes in product structure affecting overall gross margin [1] Financial Performance - The company anticipates a net profit loss of 135 million to 165 million yuan for 2025 [1] - This represents a year-on-year transition from profit to loss [1] - The decline in overall gross margin is attributed to changes in product structure [1]

Financial Performance - The company expects a net profit attributable to shareholders of the parent company for 2025 to be between -165 million to -135 million yuan, indicating a loss compared to the previous year, with a decrease of 479.22 million to 509.22 million yuan, representing a year-on-year decline of 139% to 148% [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between -193 million to -163 million yuan, a decrease of 457.41 million to 487.41 million yuan compared to the previous year, reflecting a year-on-year decline of 155% to 166% [1] Strategic Initiatives - The company is optimizing its overall product structure and organizational structure in response to market demand, focusing on internal strategic modules and refining its market layout while actively exploring new business segments [1] - The company is transitioning from a single equipment supplier to a comprehensive light-storage solution provider, which is part of its strategic transformation [1] - The company is significantly increasing investments in talent acquisition, research and development, and sales to strengthen its localized operations and support overall business development [1] Market Positioning - Despite global macroeconomic disturbances and a complex market environment, the company's operating revenue remains relatively stable [2] - The company emphasizes research and development-driven growth, focusing on long-term technological accumulation and product innovation, while actively increasing R&D investment [2] - The company aims to align R&D outcomes with market demands, continuously launching competitive products and solutions to empower sustained performance growth [2]

Financial Performance Forecast - The company expects a net profit attributable to shareholders of the parent company for 2025 to be between -165 million and -135 million RMB, representing a decrease of 139% to 148% compared to the previous year[3]. - The projected net profit after deducting non-recurring gains and losses is estimated to be between -193 million and -163 million RMB, a decline of 155% to 166% year-on-year[3]. - In the previous year, the total profit was 353.36 million RMB, with a net profit attributable to shareholders of 344.22 million RMB[4]. - The performance forecast is based on preliminary calculations and has not been audited by certified public accountants[7]. - Investors are advised to consider investment risks as the forecast data is subject to change pending the audited annual report[8]. Business Strategy and Development - The company is transitioning from a single equipment supplier to a comprehensive light-storage solution provider, impacting overall gross margin[5]. - The company has significantly increased investment in R&D and sales, focusing on local market development and talent acquisition[6]. - The company emphasizes R&D-driven growth, aiming to innovate and optimize product structures to meet changing market demands[6]. - Despite global macroeconomic disturbances, the company's operating revenue remains relatively stable[6].