Investment Rating - The report assigns a rating of "Buy" for the company, indicating a positive outlook for future performance [5]. Core Insights - The company is projected to experience significant revenue growth, with estimates of $6.39 billion in 2023, increasing to $13.54 billion by 2026, representing a compound annual growth rate (CAGR) of approximately 26.5% [5]. - The earnings per share (EPS) is expected to rise from $2.54 in 2023 to $7.55 in 2026, reflecting strong profitability improvements [5]. - The price-to-earnings (P/E) ratio is forecasted to decrease from 37.5 in 2024 to 12.6 by 2026, suggesting that the stock may become more attractive as earnings grow [5]. - The report highlights a robust growth trajectory in the company's core business segments, with year-over-year growth rates projected at 72.6% for 2023 and gradually tapering to 18.2% by 2026 [5]. Financial Summary - Revenue projections for the company are as follows: $6.39 billion in 2023, $9.05 billion in 2024, $11.45 billion in 2025, and $13.54 billion in 2026 [5]. - The company is expected to achieve an EBIT margin of 18.1% in 2023, improving to 21.1% by 2026, indicating enhanced operational efficiency [5]. - The return on equity (ROE) is anticipated to rise from 12.3% in 2023 to 21.2% in 2026, reflecting improved profitability and capital management [5].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for the stock over the next six months [10][12]. Core Insights - The company reported a significant increase in revenue and profit for Q1 2024, achieving an operating income of 1.814 billion yuan, a year-on-year growth of 122%, and a net profit attributable to shareholders of 154 million yuan, up 297% year-on-year [2][10]. - The company has a record high order backlog of 6.8 billion yuan as of March 31, 2024, with expectations for continued strong performance in the upcoming quarters due to seasonal demand [12][10]. - The report projects substantial growth in net profit for 2024-2026, estimating net profits of 769 million yuan, 948 million yuan, and 1.164 billion yuan respectively, with corresponding EPS of 5.66, 6.98, and 8.57 [12][10]. Financial Summary - Revenue projections for 2024E, 2025E, and 2026E are 6.39 billion yuan, 9.22 billion yuan, and 11.58 billion yuan respectively, with growth rates of 44.31%, 25.52%, and 20.26% [3][12]. - The net profit growth rates for the same years are projected at 122.80%, 23.28%, and 22.77% [3][12]. - The company’s PE ratio is expected to decrease from 33.14 in 2024E to 9.83 in 2026E, indicating improving valuation over time [3][12].

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook based on its performance and market position [14][15]. Core Insights - The company achieved a significant revenue increase of 72.59% year-on-year in 2023, reaching 6.39 billion yuan, with a net profit growth of 676.58% to 345 million yuan [14]. - The first quarter of 2024 showed even stronger performance, with revenue of 1.814 billion yuan, a year-on-year increase of 122.47%, and a net profit of 154 million yuan, up 297.18% [14]. - The company is benefiting from a decline in component prices and increased construction willingness for centralized power stations, alongside accelerated expansion in high-growth markets such as the Middle East, Latin America, and India [14]. - The company has a strong order backlog, with tracking bracket sales volume increasing by 129% year-on-year in 2023, and fixed bracket sales volume up by 30% [14]. - The gross margin for the bracket business reached 18.86% in 2023, reflecting improved profitability due to enhanced supply chain management and stable raw material prices [14]. - The company is expanding its overseas production capacity, with significant orders secured in markets like Saudi Arabia and Uzbekistan, and plans to enter the U.S. market [14]. Financial Summary - Revenue projections for 2024-2026 are 9.686 billion yuan, 12.701 billion yuan, and 14.725 billion yuan, respectively, with corresponding net profits of 730 million yuan, 944 million yuan, and 1.078 billion yuan [14]. - The company’s PE ratios are projected to decrease from 16x in 2024 to 11x in 2026, indicating improving valuation metrics as earnings grow [14]. - The report highlights a significant increase in cash flow from operating activities, projected to reach 1.659 billion yuan in 2024 [10][14].

中信博20240423_智能速览 2024年04月24日 14:01 关键词 电力设备 珠海标地 投资价值 电信板块 业绩确定性 出海 核心标准 市场结构 合同营结构 支架 中东 印度 海外市场 产能 投资 贸易壁垒 盈利 中国厂商 美国市场 扩展 章节速览 ● 00:00 电力设备珠海标地的投资价值 中泰电信分析师吴鹏介绍了电力设备珠海标地的投资价值，从业绩确定性以及出海角度分析了该行业的 投资前景。他指出，电信设备的核心标准具有稳定的增长预期和较高的确定性，这与全球新能源发展和 海外电力设备供需关系的紧张有关。此外，他还提到了国内企业经营性扩产的周期和一粒水平较高的电 力设备需求。总体而言，电力设备珠海标地具有较高的投资价值。 ● 03:10 朱一博的支架产品化及市场前景 朱一博的支架产品结构、市场结构和合同营结构与核心出海的定制目标相似。公司的整体估值空间较 大，且在公共板块内部确定性较高。公司经营模式独大，全球市场份额超过一半，价格和需求结构相 似。公司的基本面和投资价值有望匹配更高估值。近期波动为加价的时机。 ● 06:27 支付宝自驾业务及全球化布局 支付宝自驾业务以个人自驾为主，且从数据角度来看 ...

证券代码：688408 证券简称：中信博 江苏中信博新能源科技股份有限公司 （昆山市陆家镇华阳路 190 号） 公司，并在欧洲、中东、东南亚、拉丁美洲等地区布局了销售与服务网点。产品 下游市场覆盖了亚洲、美洲、欧洲等全球主要光伏市场。 关于本次募集资金投向属于科技创新领 域的说明（三次修订稿） 二〇二四年四月 江苏中信博新能源科技股份有限公司（以下简称"中信博"或"公司"）根 据《上市公司证券发行注册管理办法》《<上市公司证券发行注册管理办法>第 九条、第十条、第十一条、第十三条、第四十条、第五十七条、第六十条有关规 定的适用意见——证券期货法律适用意见第 18 号》等相关规定，对公司本次募 集资金投向是否属于科技创新领域进行了客观、审慎评估，制定了《江苏中信博 新能源科技股份有限公司关于本次募集资金投向属于科技创新领域的说明》（以 下简称"本说明"）。 本说明中如无特别说明，相关用语具有与《江苏中信博新能源科技股份有限 公司 2022 年度向特定对象发行 A 股股票预案》中相同的含义。 一、公司的主营业务 公司是国内领先、世界一流的光伏支架及 BIPV 系统解决方案提供商，主营 业务为光伏支架系统及 BIP ...

证券代码：688408 证券简称：中信博 公告编号：2024-017 江苏中信博新能源科技股份有限公司 关于2022年限制性股票激励计划第二类限制性股票 首次授予部分第二个归属期及预留授予部分第一个 归属期符合归属条件的公告 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 第二类限制性股票拟归属数量：47.5520万股，其中首次授予部分第二 期归属38.7320万股，预留授予部分第一期归属8.8200万股。 归属股票来源：江苏中信博新能源科技股份有限公司（以下简称"公 司"）向激励对象定向发行公司A股普通股股票。 一、2022年限制性股票激励计划（以下简称"本次激励计划"或"《激励 计划》"）批准及实施情况 （一）本次激励计划方案及已履行的程序 1、本次激励计划有关第二类限制性股票的主要内容 （1）激励方式：第二类限制性股票。 （2）授予数量：首次150.15万股，预留23.12万股。 （3）授予价格（调整后）：第二类限制性股票的授予价格（含预留部分） 为42.06元/股（公司2021年度及2022年度权益分 ...

证券代码：688408 证券简称：中信博 公告编号：2024-008 江苏中信博新能源科技股份有限公司 第三届董事会第十四次会议决议公告 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。 一、董事会会议召开情况 江苏中信博新能源科技股份有限公司（以下简称"公司"）第三届董事会第 十四次会议于2024年4月23日在公司会议室以现场方式召开，会议通知于2024年 4月13日以通讯方式送达至公司全体董事。本次会议应到董事7人，实到董事7人， 会议由董事长蔡浩先生召集并主持。会议的召集和召开程序符合《中华人民共 和国公司法》（以下简称"公司法"）、《公司章程》等法律、法规及公司的 规定，会议形成的决议合法、有效。 表决结果：赞成票 7 票，反对票 0 票，弃权票 0 票。 （三）审议通过《关于公司 2023 年年度报告全文及摘要的议案》 二、董事会会议审议情况 与会董事就各项议案进行了审议，并表决通过以下事项： （一）审议通过《关于公司 2023 年度董事会工作报告的议案》 经审议，董事会认为公司 2023 年度董事会工作报告符合《公司 ...

证券代码：688408 证券简称：中信博 公告编号：2024-021 江苏中信博新能源科技股份有限公司 关于修订《公司章程》及部分公司治理制度的公告 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。 江苏中信博新能源科技股份有限公司（以下简称"公司"）于 2024 年 4 月 23 日召开第三届董事会第十四次会议、第三届监事会第十二次会议，审议通过 了《关于修订<公司章程>的议案》、《关于修订<独立董事工作制度>的议案》、 《关于修订<董事会战略委员会工作细则>的议案》、《关于修订<董事会提名委 员会工作细则>的议案》、《关于修订<董事会薪酬与考核委员会工作细则>的议 案》、《关于修订<董事会审计委员会工作细则>的议案》、《关于制定<独立董 事专门会议议事规则>的议案》等相关部分公司治理制度的议案，现将有关情况 公告如下： 一、修订《公司章程》部分条款的相关情况 为进一步完善公司治理结构，更好地促进规范运作，公司拟根据《上海证券 交易所科创板股票上市规则（2023 年 8 月修订）》、《上海证券交易所科创板 上市公司自律监管 ...

111 1 7: 1 江苏中信博新能源科技股份有限公司 非经营性资金占用及其他关联资金 往来情况的专项报告 证明该审计报告 公用目有权 Vi年日日 您可使用手机"扫一扫"或进入"注册会议 立信会计师事务所(特殊普通合伙) BDO CHINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTANTS 关于江苏中信博新能源科技股份有限公司 非经营性资金占用及其他关联资金往来情况 的专项报告 信会师报字[2024]第 ZF10522 号 江苏中信博新能源科技股份有限公司全体股东: 我们审计了江苏中信博新能源科技股份有限公司(以下简称"中 信博公司")2023年度的财务报表,包括 2023年 12月 31日的合并及 母公司资产负债表、2023 年度合并及母公司利润表、合并及母公司 现金流量表、合并及母公司所有者权益变动表和相关财务报表附注, 并于 2024 年 4 月 23 日出具了报告号为信会师报字[2024]第 ZF10520 号的无保留意见审计报告。 中信博公司管理层根据中国证券监督管理委员会《上市公司监管 指引第 8 号 -- 上市公司资金往来、对外担保的监管要求》(证监会 公告(20 ...

Financial Performance - Basic earnings per share reached CNY 1.14, an increase of 293.10% compared to the previous period[4] - The net profit attributable to shareholders of the listed company was ¥153,995,532.83, marking a 297.18% increase year-over-year[40] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥142,726,249.84, reflecting an 882.32% increase compared to the same period last year[40] - The net profit for the first quarter of 2024 is CNY 146,546,212.38, an increase from CNY 40,396,981.26 in the same period last year, representing a growth of approximately 262.5%[51] - The total comprehensive income attributable to the parent company reached approximately $146.92 million, compared to $40.29 million in the previous period, showcasing significant growth[67] Revenue and Costs - The total operating revenue for Q1 2024 reached ¥1,814,204,889.13, representing a 122.47% increase compared to Q1 2023[28] - The total operating costs for Q1 2024 amounted to ¥1,622,004,963.62, up from ¥798,912,584.12 in Q1 2023[28] - Other income increased by ¥621.04 million, mainly due to government subsidies received[28] Assets and Liabilities - Total assets decreased by 5.79% to CNY 7,693,003,561.95 from CNY 8,165,398,710.15 at the end of the previous year[4] - Total liabilities decreased to CNY 4,751,597,310.40 from CNY 5,350,818,664.42[13] - The total current assets as of March 31, 2024, were CNY 6,232,783,712.07, a decrease from CNY 6,750,103,086.90 at the end of 2023[49] - The company reported a decrease in cash and cash equivalents to CNY 1,542,570,438.79 from CNY 1,953,605,382.77 at the end of 2023, a decline of approximately 21%[48] Equity and Shareholder Information - The company's equity attributable to shareholders increased by 4.96% to CNY 2,941,320,538.88 from CNY 2,802,439,772.91[4] - The company completed a share buyback of 1,260,000 shares, representing 0.93% of the total share capital, as of February 29, 2024[62] Research and Development - Research and development expenses totaled CNY 35,401,572.74, accounting for 1.95% of operating revenue, a decrease of 1.31 percentage points[4] - Research and development expenses for the first quarter of 2024 amounted to CNY 35,401,572.74, up from CNY 26,589,192.41 in the previous year, reflecting a growth of approximately 33.5%[51] Cash Flow - Cash flow from operating activities was CNY 1,632,506,192.42, compared to CNY 956,631,128.23 in the previous period[15] - The cash flow from operating activities showed a net outflow of ¥846,524,502.54, which is not applicable for year-over-year comparison[40] - The company's cash flow from financing activities for the first quarter of 2024 was CNY 518.17, primarily due to the optimization of bank loans[44] - The company's cash flow from financing activities showed a net inflow of approximately $317.13 million, a significant increase compared to $51.30 million in the previous period, indicating strong financing activities[58] Borrowings and Financial Expenses - Short-term borrowings rose to CNY 782,759,961.05 from CNY 602,061,614.28, indicating increased leverage[13] - The financial expenses increased significantly, with a reported amount of ¥809.34 million, primarily due to increased interest expenses[28] - The company's short-term borrowings increased by 30.01%, primarily due to new loans taken during the period[58] Impairments and Other Financial Metrics - The company experienced a substantial asset impairment loss of ¥2,177.17 million, primarily due to changes in inventory[28] - The company's investment income for the first quarter of 2024 showed a loss of CNY 48,057.11, compared to a gain of CNY 639,348.57 in the previous year[51] - The accounts receivable financing saw a substantial increase of 138.12%, attributed to a higher volume of payments received in the form of promissory notes[58] - The company experienced a 39.51% decrease in trading financial assets, mainly due to changes in wealth management products and structured deposits[58] - The prepayments increased by 69.31%, driven by business expansion and advance payments for materials[58]