中信博公告，2024年营业收入为90.26亿元，同比增长41.25%。归属于上市公司股东的净利润为6.32亿 元，同比增长83.03%。公司拟向全体股东每10股派发现金红利10元(含税)。本次利润分配方案尚需提交 公司2024年年度股东大会审议通过。 ...

Investment Rating - The report maintains a "Buy" rating for key companies in the electric power equipment and new energy sector, including CATL, Keda, and others [5]. Core Insights - BYD launched the Super e-platform, featuring a new fast-charging battery that reduces internal resistance by 50%, achieving a maximum charging power of 1000kW and a charging speed of 2 km per second [2][12]. - The new platform also includes the world's first mass-produced 30,000 RPM motor, enhancing power density and performance [2][16]. - In the first two months of 2025, solar power installations reached 39.47GW, a year-on-year increase of 7.5% [3][32]. - The inverter exports in January-February 2025 totaled 7.669 billion yuan, a year-on-year increase of 6.24% [3][33]. - The total investment in power grid projects in January-February 2025 was 43.6 billion yuan, a year-on-year increase of 33.5% [4]. Summary by Sections New Energy Vehicles - BYD's Super e-platform features a fast-charging battery and a high-speed motor, significantly improving charging efficiency and vehicle performance [11][19]. - The platform's charging capability allows for a range of 400 km with just 5 minutes of charging [11][19]. New Energy Generation - The solar power sector saw a total of 39.47GW of new installations in the first two months of 2025, with a year-on-year growth of 7.5% [3][32]. - Inverter exports showed steady growth, with a total of 7.669 billion yuan in exports during the same period [3][33]. Power Equipment and Automation - The investment in power grid projects reached 43.6 billion yuan in January-February 2025, marking a 33.5% increase compared to the previous year [4]. - The overall electricity consumption in February 2025 was 743.4 billion kWh, reflecting an 8.6% year-on-year growth [4]. Market Performance - The electric power equipment and new energy sector experienced a decline of 1.72% in the week of March 17-21, 2025, underperforming compared to the Shanghai Composite Index [1].

Group 1 - The report focuses on the technological innovation in Kunshan, Jiangsu Province, analyzing innovation output, quality of innovation institutions and individuals, and recent innovation vitality [9][10]. - Kunshan aims to enhance its technological innovation drive by integrating production and innovation, fostering collaboration between enterprises and research institutions, and establishing key platforms for innovation [10]. - The economic environment in Kunshan shows a steady recovery, with fixed asset investment reaching 85.2 billion yuan, a growth of 2%, and industrial investment increasing by 4.6% [11]. Group 2 - Kunshan has a strong patent advantage, with a total application volume of 390,877, indicating a robust technological innovation landscape [19][21]. - The region's innovation quality is high, with a comprehensive patent quality index score indicating significant advancements in cutting-edge technology research and effective market application [26][28]. - The trend in patent applications and authorizations shows steady growth, particularly in invention and utility model patents, reflecting increased investment in core technology R&D [33][34]. Group 3 - Kunshan's innovation institutions are influential, with a high innovation capability index, particularly in technology research, market expansion, and results protection [39][44]. - The region has established a collaborative innovation model, enhancing technology exchange and resource sharing among institutions, which boosts competitiveness in the global innovation network [59][60]. - The talent pool in Kunshan is substantial, with a focus on attracting high-level talent and innovation teams, contributing significantly to patent inventions and technological advancements [69][70].

Investment Rating - The report maintains a "Recommended" rating for the company [4][7]. Core Insights - The company achieved a revenue of 8.973 billion yuan in 2024, representing a year-on-year increase of 40.42%, and a net profit attributable to shareholders of 647 million yuan, up 87.60% year-on-year [1][4]. - The company has a strong order backlog of approximately 4.65 billion yuan as of December 31, 2024, with 3.5 billion yuan from tracking systems, ensuring sustained growth in shipment volumes [2]. - A strategic cooperation agreement was signed with Longi Green Energy, aiming for comprehensive collaboration in areas such as new energy development and market expansion, which is expected to enhance the domestic market recognition of tracking systems [3]. Financial Forecasts - Revenue projections for 2025 and 2026 are 11.63 billion yuan and 14.22 billion yuan, respectively, with net profits of 936 million yuan and 1.17 billion yuan, corresponding to PE ratios of 13x and 10x [4][6]. - The company is expected to maintain strong growth rates, with a projected net profit growth of 44.7% in 2025 and 25% in 2026 [6][12].

Investment Rating - The report maintains a "Recommended" rating for the company [4][7]. Core Insights - The company achieved a revenue of 8.973 billion yuan in 2024, representing a year-on-year increase of 40.42%, and a net profit attributable to shareholders of 647 million yuan, up 87.60% year-on-year [1][4]. - The company has a strong order backlog of approximately 4.65 billion yuan as of December 31, 2024, with 3.5 billion yuan from tracking systems, ensuring sustained growth in shipment volumes [2]. - A strategic cooperation agreement was signed with Longi Green Energy, aiming for comprehensive collaboration in areas such as new energy development and market expansion, which is expected to enhance the domestic market recognition of tracking systems [3]. Financial Forecasts - Revenue projections for 2025 and 2026 are 11.63 billion yuan and 14.22 billion yuan, respectively, with net profits of 936 million yuan and 1.17 billion yuan, corresponding to PE ratios of 13x and 10x [4][6]. - The company is expected to maintain strong growth rates, with a projected net profit growth of 44.7% in 2025 and 25.0% in 2026 [6][12].

证券代码：688408 证券简称：中信博 公告编号：2025-004 江苏中信博新能源科技股份有限公司 关于投资者联系电话变更的公告 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责任。 近期，江苏中信博新能源科技股份有限公司（以下简称"公司"）原投资者 联系电话出现线路故障，导致投资者无法打进或公司无法接听到投资者来电，公 司对此深表歉意。后续为保障公司与投资者之间的充分沟通交流，现将投资者联 系电话变更如下： | 变更事项 | 变更前 | 变更后 | | --- | --- | --- | | 投资者联系电话 | 0512-57353472-8088 | 0512-57286818 | 除上述调整外，公司办公地址、投资者关系电子邮箱等其他联系方式保持不 变。由此给您带来的不便，敬请谅解。欢迎广大投资者通过上述变更后的联系方 式与公司沟通交流。 特此公告。 江苏中信博新能源科技股份有限公司董事会 2025 年 2 月 26 日 1 ...

Financial Performance - The company achieved total operating revenue of 897,291.64 million yuan, a year-on-year increase of 40.42%[2] - The net profit attributable to the parent company was 64,730.89 million yuan, reflecting a year-on-year growth of 87.60%[2] - The net profit attributable to the parent company after deducting non-recurring gains and losses was 61,859.07 million yuan, up 101.93% year-on-year[2] - The basic earnings per share increased to 3.22 yuan, representing an 88.30% rise compared to the previous year[2] - The weighted average return on net assets was 17.93%, an increase of 4.99 percentage points from the previous year[2] Assets and Equity - The total assets at the end of the reporting period reached 1,012,012.68 million yuan, an increase of 23.94% compared to the previous year[5] - The equity attributable to the parent company was 441,630.09 million yuan, growing by 57.59% year-on-year[5] Market and Strategic Growth - The company’s growth was driven by strong demand in the global photovoltaic market and strategic expansion in emerging markets[5] - The company optimized procurement channels, leading to a decrease in costs and an increase in profit margins[6] - The company emphasizes customer value and product optimization, enhancing its brand influence in international markets[6]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company has a robust order backlog and is expected to maintain high production levels, with a projected net profit of approximately 635 million for 2024, representing an 84% year-on-year increase [8] - The company is experiencing strong demand in overseas markets, particularly in the Middle East and India, which is expected to support continued growth [8] - The establishment of localized production capacity in Saudi Arabia is anticipated to enhance the company's competitive advantage in the region [8] Financial Summary - Total revenue is forecasted to grow from 6,390 million in 2023 to 8,158 million in 2024, reflecting a year-on-year increase of 27.67% [1] - The net profit attributable to the parent company is expected to rise from 345 million in 2023 to 635 million in 2024, marking an 84.16% increase [1] - The earnings per share (EPS) is projected to increase from 1.58 in 2023 to 2.91 in 2024 [1] - The company’s price-to-earnings (P/E) ratio is expected to decrease from 38.48 in 2023 to 20.89 in 2024 [1]

Investment Rating - The report maintains a "Recommended" rating for the company [4][6]. Core Insights - The company is expected to achieve a net profit of 635 million yuan in 2024, representing a year-on-year increase of 84.04%, with a significant growth in revenue driven by expansion in emerging markets such as the Middle East and Latin America [1][4]. - The company has a strong order backlog of approximately 4.65 billion yuan, which includes several large overseas projects, ensuring sustained growth in shipment volumes [2][4]. - The Middle East market presents substantial growth opportunities, with the company having secured over 17 GW of orders in the region, positioning itself well to capitalize on the expected increase in solar capacity [3][4]. Financial Forecasts - Revenue projections for 2024, 2025, and 2026 are 8.635 billion yuan, 11.337 billion yuan, and 13.859 billion yuan, respectively, with corresponding net profits of 635 million yuan, 913 million yuan, and 1.142 billion yuan [5][11]. - The company is expected to maintain a strong growth trajectory, with net profit growth rates of 84.1% in 2024 and 43.8% in 2025 [5][12]. - The price-to-earnings (PE) ratios are projected to decrease from 25x in 2024 to 14x in 2026, indicating improving valuation as earnings grow [4][5].

Financial Performance - The company expects a net profit attributable to shareholders of approximately 635 million yuan for 2024, an increase of about 289.96 million yuan, representing a year-on-year growth of approximately 84.04%[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is estimated to be around 610 million yuan, an increase of about 303.67 million yuan, reflecting a year-on-year increase of approximately 99.13%[3]. - The growth in revenue and net profit is attributed to the strong demand in the global photovoltaic market, particularly in emerging markets such as the Middle East and Latin America[6]. Order Backlog - As of December 31, 2024, the company has a total order backlog of approximately 4.65 billion yuan, with tracking systems accounting for about 3.5 billion yuan and other orders approximately 1.15 billion yuan[7]. Strategic Measures - The company has implemented strategic measures for vertical and horizontal integration around photovoltaic bracket systems, which have begun to show results in this reporting period[6]. Government Subsidies - The government subsidies recognized in the current period have decreased, leading to a decline in non-operating gains compared to the same period last year[8]. Performance Forecast - The performance forecast is based on preliminary calculations by the company's finance department and has not yet been audited by registered accountants[4]. - The company has not identified any significant uncertainties that could affect the accuracy of this performance forecast[9]. - The data provided is preliminary and the final audited financial data will be disclosed in the official annual report for 2024[10]. - Investors are advised to pay attention to investment risks associated with the preliminary nature of the forecast data[10].