Core Viewpoint - Witten Electric Group Co., Ltd. reported a revenue increase of 22.23% in 2024, but faced a significant decline in net profit due to industry challenges, particularly in the photovoltaic sector [2][4]. Financial Performance - The company achieved an operating income of 3.48 billion yuan in 2024, up from 2.85 billion yuan in 2023 [3]. - The net profit attributable to shareholders decreased by 21.25% to 95 million yuan, compared to 120 million yuan in the previous year [3]. - The net profit after deducting non-recurring items also fell by 21.76% to approximately 91.77 million yuan [3]. Business Segment Analysis - The photovoltaic welding strip business saw a shipment and revenue increase of over 30%, but profit margins were pressured due to a 15% decline in average prices [4]. - The energy storage systems and distribution equipment segments emerged as growth highlights, with energy storage revenue increasing by over 30% [6]. - The low-voltage complete equipment revenue doubled, driven by breakthroughs in data centers and new energy sectors [6]. Product Performance - The production and sales of photovoltaic welding strips increased by 33.83% and 33.75%, respectively, while inventory rose by 50.70% [5]. - The low-voltage complete equipment segment experienced a significant revenue increase of 250.08% [7]. - Financial costs surged by 95.22% due to increased bank borrowings, impacting overall profitability [5]. Strategic Outlook - The company aims to focus on "three major businesses + intelligent manufacturing + globalization" as its strategic direction [6]. - The feasibility of this strategy hinges on overcoming cost challenges in photovoltaic materials and leveraging intelligent capabilities in energy storage and distribution equipment to create brand premium in high-end overseas markets [6].

中国经济网北京5月8日讯威腾电气(688226.SH)昨日晚间发布股东询价转让计划书。拟参与威腾电气首 发前股东询价转让(以下简称"本次询价转让")的股东为江苏威腾投资管理有限公司、镇江博爱投资有限 公司。本次询价转让股份的数量为3,253,698股，占总股本的比例为1.73%，转让原因均为自身资金需 求。 威腾电气首次公开发行募集资金总额为2.50亿元，扣除发行费用后，募集资金净额为2.06亿元。威腾电 气最终募集资金净额比原计划少2.00亿元。威腾电气于2021年6月30日披露的招股书显示，公司拟募集 资金4.06亿元，其中，1.63亿元用于母线车间智能化升级改造项目，1.42亿元用于年产2000套智能化中 压成套开关设备及63000台智能型(可通信)低压电器项目，5031.00万元用于研发中心建设项目，5000.00 万元用于补充流动资金。 威腾电气公开发行新股的发行费用合计4450.76万元(不含增值税金额)，其中保荐机构中信证券股份有限 公司获得承销保荐费3000.00万元。 2025年1月7日，威腾电气发布的向特定对象发行A股股票上市公告书显示，本次发行数量30,000,000 股，发行价格19. ...

中信证券收到出让方关于本次询价转让的委托，委托中信证券组织实施本次 询价转让。 二、关于参与本次询价转让股东相关资格的核查情况 （一）核查过程 中信证券股份有限公司（以下简称"中信证券"）受威腾电气集团股份有限 公司（以下简称"威腾电气"）股东江苏威腾投资管理有限公司、镇江博爱投资 有限公司（以下简称"出让方"）委托，组织实施本次威腾电气首发前股东向特 定机构投资者询价转让（以下简称"本次询价转让"）。 根据《关于在上海证券交易所设立科创板并试点注册制的实施意见》《科创 板上市公司持续监管办法（试行）》《上海证券交易所科创板股票上市规则（2025 年 4 月修订）》《上海证券交易所科创板上市公司自律监管指引第 4 号——询价 转让和配售（2025 年 3 月修订）》（以下简称"《询价转让和配售指引》"）等 相关规定，中信证券对参与本次询价转让股东的相关资格进行核查，并出具本核 查意见。 一、本次询价转让的委托 中信证券股份有限公司 关于威腾电气集团股份有限公司股东 向特定机构投资者询价转让股份 相关资格的核查意见 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 1 中信证券核查了江苏威腾投资管理有 ...

本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： 一、拟参与转让的股东情况 （一）出让方的名称、持股数量、持股比例 出让方委托中信证券股份有限公司（以下简称"中信证券"）组织实施本次询 价转让。截至 2025 年 5 月 7 日出让方所持首发前股份的数量、占公司总股本比 例情况如下： 证券代码：688226 证券简称：威腾电气 公告编号：2025-033 威腾电气集团股份有限公司 股东询价转让计划书 江苏威腾投资管理有限公司、镇江博爱投资有限公司（以下合称"出让方"） 保证向威腾电气集团股份有限公司（以下简称"威腾电气"或"公司"）提供的信息 内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其真实性、准确性和 完整性依法承担法律责任。 | 序号 | 股东名称 | 持股数量（股） | 持股占总股本比例 | | --- | --- | --- | --- | | 1 | 江苏威腾投资管理有限 | 30,632,939 | 16.3247% | | | 公司 | | | 1 拟参与威腾电气首发前股东询价转让（以下简称"本次询价转让"）的股东为 江苏威腾投资管理有限公司、镇江博爱 ...

威腾电气公告，公司股东江苏威腾投资管理有限公司和镇江博爱投资有限公司计划通过询价转让方式转 让威腾电气股份，共计325.37万股，占公司总股本的1.73%。 ...

第四届监事会第七次会议决议公告 本公司监事会及全体监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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 威腾电气集团股份有限公司（以下简称"公司"）第四届监事会第七次会议于 2025 年 4 月 25 日在公司会议室以现场方式召开。会议通知于 2025 年 4 月 22 日以 电子邮件的方式发出。会议应到监事 3 人，实际出席监事 3 人。会议由公司监事 会主席贺正生先生召集并主持，本次会议召集、召开程序符合《中华人民共和国 公司法》和《威腾电气集团股份有限公司章程》（以下简称"《公司章程》"） 的有关规定。 二、监事会会议审议情况 参会监事审议并以投票表决方式通过了下列议案： （一）审议并通过《关于2025年第一季度报告的议案》 证券代码：688226 证券简称：威腾电气 公告编号：2025-032 威腾电气集团股份有限公司 监事会全体成员保证公司《2025 年第一季度报告》披露的信息真实、准确、 完整，不存在任何虚假记载、误导性陈述或重大遗漏，并对其内容的真实性、准 确性和完整性依法承担法律责任。 表决结果：3 票赞成 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥873,596,037.97, representing a 9.90% increase compared to ¥794,936,911.89 in the same period last year[4]. - Net profit attributable to shareholders decreased by 62.33% to ¥13,294,742.22 from ¥35,290,582.00 year-on-year[4]. - The net profit after deducting non-recurring gains and losses fell by 64.90% to ¥11,656,199.43 from ¥33,210,998.45 year-on-year[4]. - Basic and diluted earnings per share decreased by 69.57% to ¥0.07 from ¥0.23 year-on-year[4]. - Net profit for Q1 2025 was ¥15,024,898.61, a decrease of 60.7% from ¥38,181,679.76 in Q1 2024[18]. - The total comprehensive income for Q1 2025 was ¥22,483,482.89, compared to ¥39,764,175.44 in Q1 2024, reflecting a decline of 43.7%[18]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥215,419,895.14, compared to -¥189,871,267.21 in the previous year, indicating cash flow challenges[4]. - The company reported a net cash outflow from operating activities of ¥215,419,895.14 in Q1 2025, compared to an outflow of ¥189,871,267.21 in Q1 2024[20]. - Cash and cash equivalents at the end of Q1 2025 totaled ¥464,853,681.66, down from ¥280,003,123.40 at the end of Q1 2024[21]. - The company's cash and cash equivalents were reported at ¥520,675,192.79, significantly lower than ¥896,389,352.45 at the end of 2024, indicating a decrease of approximately 42%[13]. Research and Development - Total R&D investment was ¥19,199,135.61, down 33.09% from ¥28,695,397.60, with R&D expenses accounting for 2.20% of operating revenue, a decrease of 1.41 percentage points[5]. - The company experienced a significant increase in research and development expenses, totaling ¥19,199,135.61 in Q1 2025, down from ¥28,695,397.60 in Q1 2024[17]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,861,214,399.39, a decrease of 0.93% from ¥4,906,723,508.05 at the end of the previous year[5]. - The company's current assets totaled ¥3,279,814,031.49, down from ¥3,378,521,884.03 in the previous period[13]. - The company's total liabilities were ¥3,059,473,683.61, down from ¥3,168,572,007.86, showing a reduction of approximately 3.4%[15]. - Long-term borrowings rose to ¥645,779,906.00 from ¥467,321,120.86, indicating an increase of about 38%[15]. - The company reported a decrease in inventory to ¥414,694,669.55 from ¥466,393,540.16, a decline of about 11%[14]. Shareholder Information - Shareholders' equity attributable to shareholders increased by 1.36% to ¥1,688,877,246.87 from ¥1,666,285,839.48 at the end of the previous year[5]. - The total number of ordinary shareholders at the end of the reporting period was 4,652[10]. - The company’s equity attributable to shareholders increased to ¥1,688,877,246.87 from ¥1,666,285,839.48, reflecting a growth of approximately 1.3%[15]. - There were no changes in the top 10 shareholders or their participation in margin financing activities[11]. Operating Costs - Total operating costs for Q1 2025 were ¥859,233,046.65, up 14.4% from ¥751,229,629.41 in Q1 2024[17].

Core Insights - The company reported a revenue of 3.481 billion yuan for 2024, representing a year-on-year growth of 22.23%, with a net profit attributable to shareholders of 94.87 million yuan [2] Business Expansion - The company is expanding its product lines, particularly in the distribution equipment sector, where it has established a joint venture with ABB to enhance its busbar business [3] - The company has seen a doubling of revenue from medium and low-voltage complete equipment, driven by innovation and sales expansion [3] - New developments in key industries such as data centers, 3C semiconductors, automotive manufacturing, and renewable energy have been achieved [3] - The company has developed intelligent DC busbar trays for data centers and upgraded its AC busbar trays to handle higher currents, broadening market applications [3] - The successful launch of YBH high and low voltage pre-installed substations marks an expansion into the wind power sector [3] - The company plans to establish a new technology company focused on silicon photonics, enhancing its data center product offerings [3] Innovation and R&D - The company increased its R&D investment to 103.79 million yuan in 2024, a growth of 12.83%, leading to breakthroughs in patent achievements [4] - In the energy storage systems sector, the company has developed key components such as PCS, BMS, and EMS, with a focus on commercial energy storage cabinets [4] - Revenue from energy storage systems grew by over 30% year-on-year, supported by a strategic partnership with Westinghouse Electric [4] - In the photovoltaic new materials sector, the company has introduced multiple patents and achieved over 30% growth in sales and revenue of its welding strip products [4] Financial Strength and Shareholder Returns - The company has completed a private placement of A-shares, strengthening its financial position for future operations [5] - A profit distribution plan has been announced, with a cash dividend of 1.52 yuan per 10 shares, totaling approximately 28.52 million yuan, to reward investors [6] Future Outlook - The company aims to focus on its three main business areas: distribution equipment, energy storage systems, and photovoltaic new materials, while enhancing smart manufacturing and industry collaboration [6] - A global perspective and innovation will drive the company to explore domestic and international market demands, reinforcing its core competitiveness for sustainable and high-quality development [6]

Core Viewpoint - The recent financial report of Weiteng Electric (688226) shows a significant increase in revenue but a decline in net profit, indicating potential challenges in profitability despite revenue growth [1][4]. Financial Performance - The total revenue for the year reached 3.481 billion yuan, representing a year-on-year increase of 22.23% [1][4]. - The net profit attributable to shareholders was 94.87 million yuan, down 21.25% compared to the previous year [1][4]. - In Q4, the revenue was 736 million yuan, a decrease of 12.41% year-on-year, with a net loss of 14.17 million yuan, a decline of 139.68% [1][4]. Profitability Metrics - The gross margin was 15.68%, down 11.28% year-on-year, while the net margin fell to 2.94%, a decrease of 37.43% [3][4]. - The total of selling, administrative, and financial expenses was 287 million yuan, accounting for 8.25% of revenue, an increase of 3.03% year-on-year [3][4]. Cash Flow and Debt - The company reported a significant increase in cash and cash equivalents, reaching 299.68 million yuan, up 193.04% year-on-year [4]. - The accounts receivable stood at 1.477 billion yuan, showing a slight decrease of 0.66% [4]. - Interest-bearing liabilities increased by 31.64% to 1.43 billion yuan [4]. Analyst Expectations - Analysts had previously expected a net profit of around 182 million yuan for 2024, which was not met by the actual results [2][5]. - The average forecast for net profit in 2025 is 204 million yuan, with an expected earnings per share of 1.09 yuan [5]. Investment Insights - The company has a return on invested capital (ROIC) of 5.42%, indicating average capital returns [4]. - The cumulative financing since the company's listing is 828 million yuan, with total dividends amounting to 77.49 million yuan, resulting in a dividend-to-financing ratio of 0.09 [4]. Fund Holdings - The largest fund holding Weiteng Electric is Wan Jia New Energy Theme Mixed Fund, which holds 39,100 shares and has recently entered the top ten holdings [6].

Group 1 - The core viewpoint of the news is that Weiteng Electric (688226.SH) has disclosed its annual report for 2024, highlighting significant institutional investor holdings and changes in share ownership [1] - As of April 25, 2025, a total of 31 institutional investors hold shares in Weiteng Electric, with a combined holding of 66.72 million shares, representing 42.63% of the total share capital [1] - The top ten institutional investors account for 42.50% of the total shares, with a notable decrease of 5.52 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, one fund, the Fortune Tianhui Growth Mixed (LOF) A/B, has reduced its holdings by 0.70% compared to the previous quarter [2] - A total of 24 new public funds have been disclosed this period, including notable funds such as Everbright Prudential Quantitative Stock A and Huaxia CSI 500 Index Enhanced A [2] - Eight public funds have not been disclosed this period, including funds like the Collective - CICC New Star A and Fortune Core Advantage Mixed Initiation A [2]