经与会监事对本次会议议案进行审议，并表决通过以下事项： 1、审议通过《关于2025年度日常性关联交易预计的议案》 监事会认为： 证券代码：688348 证券简称：昱能科技 公告编号：2025-003 昱能科技股份有限公司 第二届监事会第十三次会议决议公告 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 昱能科技股份有限公司（以下简称"公司"）第二届监事会第十三次会议（以 下简称"会议"）通知于2025年2月21日以电子邮件方式送达全体监事，会议于 2025年2月27日在公司4楼会议室以现场方式召开。会议由监事会主席高虹主持， 会议应到监事3人，实到监事3人。本次会议的召集、召开以及参与表决监事人数 程序符合《公司法》《公司章程》《监事会议事规则》等有关法律、法规的规定。 二、 监事会会议审议情况 2025年度预计的日常性关联交易符合公司日常生产经营实际情况，公司及子 公司与关联方的关联交易行为遵循市场公允原则，关联交易不会影响公司独立性， 不会影响公司经营成果的真实性，未损害公司和股东利益。综上， ...

Financial Performance - Total operating revenue for 2024 reached RMB 1.794 billion, an increase of 26.36% compared to the previous year[7] - Net profit attributable to shareholders of the parent company was RMB 142.30 million, a decrease of 35.38% year-on-year[7] - Net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was RMB 123.95 million, down 27.36% from the previous year[7] - Basic earnings per share decreased to RMB 1.08, down 23.40% from the previous year[4] - The weighted average return on net assets decreased by 1.98 percentage points to 3.91%[4] Assets and Equity - Total assets at the end of the reporting period amounted to RMB 4.632 billion, a decrease of 2.49% from the beginning of the year[9] - Shareholders' equity attributable to the parent company was RMB 3.619 billion, down 1.58% from the beginning of the year[9] - The company's share capital increased by 39.53% compared to the beginning of the year due to capital reserve conversion[10] Market Strategy and Challenges - The decline in net profit was primarily due to the high proportion of overseas revenue, which was affected by foreign exchange fluctuations and increased financial expenses[10] - The company aims to drive growth through a dual domestic and international market strategy, focusing on energy storage solutions[9]

证券代码：688348 证券简称：昱能科技 公告编号：2025-002 特此公告。 昱能科技股份有限公司董事会 2025 年 2 月 26 日 昱能科技股份有限公司 关于变更持续督导保荐代表人的公告 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、准确性和完整性依法承担法律责任。 东方证券股份有限公司（以下简称"东方证券"）为昱能科技股份有限公司 （以下简称"公司"）首次公开发行股票并在科创板上市的保荐机构和持续督导 机构，持续督导期限自首次公开发行股票并在科创板上市之日起至 2025 年 12 月 31 日止。东方证券原委派朱佳磊先生、王震先生担任保荐代表人。 公司于 2025 年 2 月 24 日收到东方证券出具的《关于更换昱能科技股份有限 公司首次公开发行股票持续督导保荐代表人的通知》，朱佳磊先生因工作变动，不 再继续担任公司持续督导保荐代表人，为了保证持续督导保荐工作的有序进行，东 方证券指定潘金亮先生（简历详见附件）接替朱佳磊先生担任公司持续督导期间的 保荐代表人，履行持续督导职责。 本次变更后，公司首次公开发行股票并在科创板上市的持续督导保荐代 ...

证券代码：688348 证券简称：昱能科技 公告编号：2025-001 昱能科技股份有限公司 股东减持股份结果公告 本公司董事会、全体董事及相关股东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。 重要内容提示： 股东持股的基本情况 本次减持计划实施前，昱能科技股份有限公司(以下简称"公司")股东嘉兴 汇英投资管理合伙企业（有限合伙）（以下简称"嘉兴汇英"）持有公司无限售流 通股份 3,328,326 股，占公司总股本的 2.13%，股东嘉兴汇能投资管理合伙企业 注 2：本次减持计划仅嘉兴汇英进行减持，不涉及其一致行动人嘉兴汇能持股部分减持。 | | 股东名称 | 持股数量（股） | 持股比例 | 一致行动关系形成原因 | | --- | --- | --- | --- | --- | | 第一组 | 嘉兴汇能 | 5,558,035 | 3.56% | 同一执行事务合伙人 | | | 嘉兴汇英 | 3,328,326 | 2.13% | 同一执行事务合伙人 | | | 合计 | 8,886,361 | 5.69% | — | （有限合伙）（以 ...

证券代码：688348 证券简称：昱能科技 昱能科技股份有限公司投资者关系活动记录表 （2024 年第三季度业绩说明会） 编号：20241118 投资者关系活动 类别 特定对象调研 分析师会议 媒体采访 业绩说明会 新闻发布会 路演活动 现场参观 其他（请文字说明其他活动内容） 形式 现场 网上 电话会议 参与单位名称 及人员姓名 参与公司 2024 年第三季度业绩说明会的投资者 时间 2024 年 11 月 18 日 15:30-16:30 地点 价值在线（https://www.ir-online.cn）网络互动 上市公司接待 人员姓名 董事长 凌志敏 董事会秘书 邱志华 财务总监 张家武 独立董事 顾建汝 投资者关系活动 主要内容介绍 介绍环节： 简单介绍公司第三季度及前三季度经营情况： 一、公司 2024 年 1-9 月经营业绩情况 （一）第三季度及 2024 年 1-9 月经营业绩 1、2024 年第三季度业绩 2024 年第三季度实现营收 6.34 亿元，环比增长 34.61 %，同比增长 104.33%。2024 年第三季度实现归母净利润 6, 164.50 万元，环比增长 28.74%，同比增 ...

Summary of YN Technology Conference Call Company Overview - YN Technology reported a revenue of 634 million yuan in Q3 2024, representing a year-on-year growth of 104.33% and a quarter-on-quarter increase of 34.61% [2][3] - The net profit attributable to shareholders for Q3 2024 was 61.645 million yuan, up 33.47% year-on-year [2][3] - For the first nine months of 2024, the company achieved a revenue of 1.533 billion yuan, a year-on-year increase of 58.31%, but the net profit decreased by 17.14% due to increased upfront investments [2][3] Product Performance - Sales of the energy distribution devices reached 1.3 billion yuan, while self-control observers generated 133 million yuan in sales, both showing significant growth with gross margins exceeding 40% [2][4] - The company sold 858,000 energy distribution devices and 804,000 self-control observers in the first nine months of 2024, with respective revenue growth of 11.75% and 13.68% [4] Inventory and Supply Chain - As of September 30, 2024, total inventory was 1.271 billion yuan, down 245 million yuan from June 30, 2024, with an inventory turnover rate of 0.73, nearly doubling from the previous year [2][5] - The inventory structure is optimized, with approximately 40% as raw materials and processing materials, and 50% as finished goods [5][31] Market Expansion and Strategy - YN Technology is actively expanding into overseas markets, with Europe accounting for over 60% of sales and the US for 20-30% [2][11] - The company plans to enter Southeast Asia and other emerging markets to adapt to potential market changes and policy adjustments [2][9][12] - The company is optimistic about the micro-profitability prospects in the commercial solar market and has launched relevant solutions for small-scale projects [2][8] Research and Development - The fifth-generation energy distribution product is currently in the pre-production stage, focusing on design optimization and cost reduction through large-scale production [6] - The company collaborates with electronic manufacturers to enhance product integration efficiency and market competitiveness [6][14] Future Outlook - YN Technology anticipates significant growth in emerging markets and overseas commercial markets over the next 3-5 years, driven by the increasing demand for stable electricity supply in low-income areas [29][32] - The company expects a 20% overall growth in shipments for the next year, with potential explosive growth in emerging markets [32][33] - The company has approximately 500 million yuan in hand orders, equivalent to about 500 MWh, expected to be completed next year [33] Competitive Landscape - The micro-profit sector is shifting towards micro-storage, with intensified competition in online channels [14] - The company does not currently plan to collaborate directly with large online sales platforms but supports downstream customers in online sales [10] Conclusion - YN Technology is positioned for strong growth with a focus on overseas expansion, product innovation, and market adaptability, despite facing challenges such as fluctuating net profits and competitive pressures in the solar energy sector [2][19][28]

Group 1 - Zhejiang Yuling Technology Co., Ltd. has been established with a registered capital of 25.5 million yuan [1] - The legal representative of the company is Luo Yuhao [1] - The business scope includes manufacturing of photovoltaic equipment and components, battery manufacturing, solar power generation technology services, and energy storage technology services [1] Group 2 - The company is jointly held by Yuneng Technology and Zhejiang Boying New Energy Co., Ltd. [1]

证券代码：688348 证券简称：昱能科技 公告编号：2024-069 昱能科技股份有限公司 关于召开2024年第三季度业绩说明会的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 会议召开地点：价值在线（www.ir-online.cn） 会议问题征集：投资者可于 2024 年 11 月 18 日 12:00 前访问网址： https://eseb.cn/1jb8Yr8GOuA 或扫描下方二维码在报名时进行会前提问，公 司将通过本次业绩说明会上，在信息披露允许范围内就投资者普遍关注的问题 进行回答。 昱能科技股份有限公司（以下简称"公司"）已于 2024 年 10 月 31 日发布 公司 2024 年第三季度报告，为便于广大投资者更全面深入地了解公司 2024 年第 三季度经营成果、财务状况，公司计划 2024 年 11 月 18 日下午 15:30-16:30 举 会议召开时间：2024 年 11 月 18 日（星期一）15:30-16:30 会议召开方式：网络及电话会议方式 会议召开地点：价值在线 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [4]. Core Views - The company reported a revenue of 1.533 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 58.31%. However, the net profit attributable to the parent company was 149 million yuan, a decrease of 17.14% year-on-year. In Q3 2024, the revenue reached 634 million yuan, showing a year-on-year increase of 104.33% and a quarter-on-quarter increase of 34.61%. The net profit attributable to the parent company in Q3 was 62 million yuan, up 33.47% year-on-year and 28.74% quarter-on-quarter [4][5]. Summary by Sections Business Performance - The company's micro-inverter shipments are expected to remain stable quarter-on-quarter, with steady performance in both European and North American markets. The gross margin for micro-inverters is anticipated to maintain a good level. The industrial storage segment saw a significant revenue increase in Q3, primarily due to the concentration of revenue recognition from certain projects, which is expected to contribute a small amount of profit [5]. Financial Data - The company reported a Q3 expense ratio of only 10.9%, a decrease of 8.3 percentage points quarter-on-quarter, mainly due to the significant dilution effect from the expanded revenue scale. As of the end of Q3, inventory was 1.27 billion yuan, down 16% quarter-on-quarter, attributed to the continuous reduction of overseas warehouse inventory for micro-inverters and the conversion of industrial storage inventory into revenue. Consequently, the operating cash flow for Q3 was 380 million yuan, showing good performance. The contract liabilities at the end of Q3 were 60 million yuan, an increase of 67% quarter-on-quarter, reflecting the continuous growth in order scale [5]. Future Outlook - Looking ahead, micro-inverter sales in Q4 are expected to remain stable, with ongoing inventory digestion, and year-end inventory is likely to decrease to below six months. The company launched the EZHI hybrid micro-inverter for the DIY solar storage market in the first half of the year, which is expected to see rapid sales growth, contributing to performance increments. The industrial storage business is accelerating its development, with annual revenue expected to continue growing [5]. Profit Forecast - The company is projected to achieve net profits of 220 million yuan and 440 million yuan for 2024 and 2025, respectively, corresponding to price-to-earnings ratios of 40 and 20 times [5].

Investment Rating - The investment rating for the company is "Accumulate" with a revised outlook [5]. Core Insights - The company reported a significant increase in revenue, achieving 1.533 billion yuan in the first three quarters of 2024, a year-on-year growth of 58.31%. However, the net profit attributable to the parent company decreased by 17.14% to 149 million yuan [1][2]. - The operating cash flow improved significantly, with a net cash flow from operating activities of approximately 620 million yuan, an increase of 1.552 billion yuan year-on-year [1][2]. - The revenue for Q3 2024 reached 634 million yuan, representing a year-on-year increase of 104.33% and a quarter-on-quarter increase of 34.61% [1]. Summary by Sections Revenue Growth - The high revenue growth is primarily attributed to the rapid increase in revenue from industrial and commercial energy storage systems and the gradual recovery of the overseas micro-inverter market [2]. Profitability - The net profit attributable to the parent company for Q3 2024 was 62 million yuan, a year-on-year increase of 33.47% and a quarter-on-quarter increase of 28.74% [1][2]. Financial Forecasts - Revenue forecasts for 2024 and 2025 have been adjusted to 1.964 billion yuan and 2.341 billion yuan, respectively. The net profit forecasts for the same years are adjusted to 251 million yuan and 350 million yuan [3][4]. - The company is expected to achieve a revenue of 2.809 billion yuan and a net profit of 418 million yuan by 2026 [3][4]. Valuation Metrics - The current market capitalization corresponds to a price-to-earnings (P/E) ratio of 36, 25, and 21 times for the years 2024, 2025, and 2026, respectively [3][4].