证券代码：688516 证券简称：奥特维 公告编号：2024-083 转债代码：118042 转债简称：奥维转债 无锡奥特维科技股份有限公司 关于 2024 年第二次临时股东大会更正补充公告 本公司董事会及全体董事保证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、股东大会有关情况 1. 原股东大会的类型和届次： 2024 年第二次临时股东大会 | 股份类别 | | 股票代码 | 股票简称 | 股权登记日 | | --- | --- | --- | --- | --- | | A | 股 | 688516 | 奥特维 | 2024/9/2 | | | 董事》 | | | --- | --- | --- | | 4.00 | 关于监事会换届选举暨提名公司第四届监事 | 应选 监事（2）人 | | | 会非职工监事候选人的议案 | | | 4.01 | 《选举陈霞女士为公司第三届监事会股东代 | √ | | | 表监事》 | | | 4.02 | 《选举吕洁女士为公司第三届监事会股东代 | √ | | | 表监事》 | | 更正后： 二、会议审议事项 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][4][7] Core Views - The company reported a strong performance in H1 2024, with revenue of 4.418 billion yuan, a year-on-year increase of 75.48%, and a net profit attributable to shareholders of 769 million yuan, up 47.19% year-on-year [2][3] - The company secured significant orders, including a large procurement order for over 10GW of high-speed 0BB string welding equipment, indicating accelerated platform layout [3][4] - The company is increasing its R&D investment, with R&D expenses rising by 37.01% year-on-year in H1 2024 [3] Summary by Sections Financial Performance - In Q2 2024, the company achieved revenue of 2.453 billion yuan, a year-on-year increase of 65.94% and a quarter-on-quarter increase of 24.89% [3] - The gross margin for H1 2024 was 33.81%, a decrease of 2.83 percentage points year-on-year, while the net margin was 18.19%, down 2.27 percentage points year-on-year [3] - The company signed new orders worth 6.285 billion yuan (including tax) in H1 2024, a year-on-year increase of 8.74%, with total orders on hand reaching 14.341 billion yuan, up 41.11% year-on-year [3] Market Position and Orders - The company holds over 60% market share in string welding machines, serving more than 600 production bases globally [3] - The company has received orders from major clients in the module PACK production line and semiconductor equipment, indicating a strong demand for its products [3] Earnings Forecast - The company is expected to achieve revenues of 9.503 billion yuan, 12.516 billion yuan, and 14.626 billion yuan for the years 2024, 2025, and 2026, respectively [4][6] - The projected net profit attributable to shareholders for the same years is 1.835 billion yuan, 2.407 billion yuan, and 2.894 billion yuan, respectively [4][6] - The current price corresponds to a PE ratio of 6, 4, and 4 times for the years 2024, 2025, and 2026, respectively [4][6]

奥特维（ 688516） 公司点评 2024H1 业绩符合预期，0BB 串焊机取得头部客户 10GW+订单突破 | --- | --- | |---------------------------|--------------| | 投资评级：买入（维持） | | | 报告日期： 2024-8-23 | | | 收盘价（元） | 33.65 | | 近 12 个月最高/最低（元） | 81.07 /33.36 | | 总股本（百万股） | 314.43 | | 流通股本（百万股） | 290.24 | | 流通股比例（%） | 92.31% | | 总市值（亿元） | 105.81 | | 流通市值（亿元） | 97.67 | 公司价格与沪深 300 走势比较 -60% -40% -20% 0% 20% 2023-08 2023-12 2024-04 奥特维（前复权） 沪深300 分析师：张帆 执业证书号：S0010522070003 邮箱：zhangfan@hazq.com 分析师：徒月婷 执业证书号：S0010522110003 邮箱：tuyueting@hazq.com 相关报告 24 分析师：张志邦 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index within the next six months [11]. Core Views - The company achieved rapid growth in Q2 2024, with total revenue reaching 2.453 billion yuan, a year-on-year increase of 65.94% and a quarter-on-quarter increase of 24.89% [2]. - The company has a strong order backlog, with new orders amounting to 6.285 billion yuan in the first half of 2024, reflecting a year-on-year increase of 8.74% [2]. - The company is focusing on R&D, with investments totaling 178 million yuan in the first half of 2024, a year-on-year increase of 37.01%, which supports stable order growth [2]. Financial Performance Summary - For the first half of 2024, the company reported revenue of 4.418 billion yuan, up 75.48% year-on-year, and a net profit attributable to shareholders of 769 million yuan, up 47.19% year-on-year [1]. - The gross margin and net margin for the first half of 2024 were 33.81% and 18.19%, respectively, showing a slight decline compared to the previous year [2]. - The company’s return on equity (ROE) is projected to be 35.7% in 2024, indicating strong profitability [1][7]. Market and Product Insights - The photovoltaic equipment market is experiencing a slowdown in demand growth, with new installations in China reaching 102.48 GW in the first half of 2024, a year-on-year increase of 30.7% [3]. - The energy storage market is expected to continue growing, driven primarily by power storage needs, with new installations in the first half of 2024 increasing by 48.5% year-on-year [3]. - The semiconductor packaging sector presents significant opportunities for domestic substitution, as the industry is expected to recover in the second half of 2024 [6].

Investment Rating - The report maintains a "Buy" rating for the company [5][7]. Core Insights - The company achieved a revenue of 4.42 billion yuan in H1 2024, representing a year-on-year increase of 75%, with a net profit attributable to shareholders of 770 million yuan, up 47% year-on-year [2][7]. - The gross margin for H1 2024 was 33.8%, down 2.8 percentage points year-on-year, while the net margin was 18.2%, down 2.3 percentage points year-on-year, primarily due to the industry's cyclical downturn [2][7]. - The company is expected to generate revenues of approximately 10.3 billion, 12.7 billion, and 15.7 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of about 63%, 24%, and 23% [2][7]. Summary by Sections Financial Performance - In Q2 2024, the company reported a revenue of 2.45 billion yuan, a year-on-year increase of 66% and a quarter-on-quarter increase of 25% [7]. - The net profit for Q2 was 440 million yuan, up 45% year-on-year and 31% quarter-on-quarter [7]. - The company’s contract liabilities and inventory both grew by 23% year-on-year, reaching 3.26 billion yuan and 7.34 billion yuan, respectively, by the end of Q2 2024 [7]. Market Position and Technology - The company has successfully developed ultra-high-speed 0BB string welding equipment, which has been validated by leading enterprises and secured orders exceeding 10GW [7]. - The report highlights the rapid technological iteration in the component segment, with the 0BB technology being the next generation after SMBB, aimed at reducing costs and increasing efficiency [7]. Future Outlook - The report expresses optimism regarding the continued growth of 0BB orders, anticipating that the new technology will lead to sustained revenue growth for the company [2][7]. - The expected revenue and net profit for 2024-2026 are projected to be approximately 10.3 billion, 12.7 billion, and 15.7 billion yuan, with net profits of about 1.93 billion, 2.50 billion, and 3.07 billion yuan, respectively [2][7].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's performance continues to show high growth, achieving revenue of 4.418 billion yuan in the first half of 2024, a year-on-year increase of 75.5%. The revenue from photovoltaic equipment accounted for 88.2% of total revenue [3][8] - The company's profitability has slightly declined, with a gross margin of 33.8%, down 2.8 percentage points year-on-year, and a net profit margin of 18.2%, down 2.3 percentage points year-on-year [11] - The company has maintained a strong order intake, with new orders of 6.29 billion yuan in the first half of 2024, a year-on-year increase of 8.7% [13] - The company is positioned as an automation platform across photovoltaic, lithium battery, and semiconductor sectors, with significant orders and market share in each area [15] Summary by Sections Financial Performance - In the first half of 2024, the company achieved total revenue of 44.18 billion yuan, with a net profit of 7.69 billion yuan, reflecting a year-on-year increase of 47.2% [3][8] - The second quarter alone saw revenue of 24.53 billion yuan, a year-on-year increase of 65.9% [8] Profitability Analysis - The gross margin for the first half of 2024 was 33.8%, a decrease of 2.8 percentage points compared to the previous year, while the net profit margin was 18.2%, down 2.3 percentage points [11][12] Order and Inventory Management - As of the end of Q2 2024, the company's contract liabilities were 3.26 billion yuan, a decrease of 17% quarter-on-quarter, and inventory stood at 7.34 billion yuan, down 4% [13][14] - The backlog of orders was approximately 14.34 billion yuan, a year-on-year increase of 41% [13] Business Segmentation and Growth - The company has diversified into three main sectors: photovoltaic, lithium battery, and semiconductor, with significant orders in each area, including major contracts for low-oxygen monocrystalline furnaces and other equipment [15][16] - The forecasted net profit for 2024-2026 is 18.4 billion, 23.5 billion, and 29.9 billion yuan respectively, with corresponding P/E ratios of 6, 4, and 4 times [16]

证券研究报告·公司点评报告·光伏设备 奥特维（688516） 获头部客户 10+GW 超高速 0BB 串焊机订 单，0BB 有望迎来规模量产 2024 年 08 月 22 日 买入（维持） | --- | --- | --- | --- | --- | --- | |----------------------------|--------|----------|----------|----------|----------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 3540 | 6302 | 9213 | 12060 | 14892 | | 同比（%） | 72.94 | 78.05 | 46.19 | 30.90 | 23.48 | | 归母净利润（百万元） | 713.11 | 1,255.82 | 1,837.73 | 2,350.23 | 2,989.43 | | 同比（%） | 92.36 | 76.10 | 46.34 | 27.89 | 27.20 | | EPS-最新摊薄（ ...

奥特维（688516.SH）2024 年半年报点评 业绩符合预期，超高速 0BB 焊接设备获得超 10GW 大单 2024 年 08 月 22 日 ➢ 事件： 2024 年 8 月 21 日，奥特维发布 2024 年半年报。2024 年 H1，公 司实现营业收入 44.18 亿元，yoy+75.48%；实现归母净利润 7.69 亿， yoy+47.19%；新签订单 62.85 亿（含税），yoy+8.74%；截止 2024 年 H1， 在手订单 143.41 亿元（含税），yoy+41.11%。 ➢ 公司平台化布局优势凸显，多领域市场地位突出。1）光伏：核心产品大尺 寸超高速串焊机（市占率超 60%）、硅片分选机在各自细分市场具有较强竞争优 势，低氧单晶炉竞争优势显现，丝网印刷线的市场份额逐步提升；2）储能/锂电： 公司生产的应用于锂电池储能的模组/PACK 生产线，已取得中车株洲所、海博思 创、海四达（美国）等客户的订单；3）半导体：公司上半年铝线键合机与 AOI 检测设备已持续获得客户批量订单，上半年订单增量明显，客户复购率持续上升。 ➢ 研发投入持续高比例，新产品不断推出，核心竞争力不断提升。2024 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a projected net profit of 1.804 billion, 2.298 billion, and 2.787 billion for the years 2024 to 2026 respectively, corresponding to a PE ratio of 6 for 2024 [3][4]. Core Insights - The company achieved significant growth in its financial performance, with a 75.48% year-on-year increase in revenue to 44.18 billion and a 47.19% increase in net profit to 7.69 billion for the first half of 2024 [2]. - The company has a robust order backlog, with total orders on hand reaching 143.41 billion, a 41.11% increase year-on-year, ensuring sustained revenue growth [2]. - The company is increasing its R&D investment, with 1.78 billion allocated in the first half of 2024, marking a 37.01% increase, leading to breakthroughs in new products across various sectors [2][3]. Financial Performance Summary - Revenue for 2024 is projected to reach 87.17 billion, with a growth rate of 38.32% [4]. - Net profit is expected to grow to 1.804 billion in 2024, reflecting a growth rate of 43.63% [4]. - The company’s EPS is projected to be 5.74 in 2024, with a ROE of 35.94% [4]. - The company’s gross margin is expected to be around 36.0% in 2024, with a net profit margin of 20.7% [4]. Order and R&D Insights - The company signed new orders worth 62.85 billion in the first half of 2024, an 8.74% increase year-on-year, indicating strong demand [2]. - The company has successfully developed new technologies, including high-speed 0BB string welding equipment and advanced lithium battery production lines, which have garnered significant orders from leading firms [2][3].

业绩简评 2024 年 8 月 21 日，公司发布 2024 年半年报，24H1 公司实现营业 收入 44.18 亿元，同比+75.48%；实现归母净利润 7.69 亿元，同 比+47.19%；其中 Q2 实现营业收入 24.53 亿元，同比+65.94%；实 现归母净利润 4.36 亿元，同比+44.80%，业绩符合预期。 经营分析 新签订单富有韧性，经营情况稳中向好：截至 2024Q2，公司在手 订单 143.41 亿元，同比增长 41.11%； 24H1 新签订单 62.85 亿 元，同比增长 8.74%。2024 上半年光伏行业的产能出现阶段性过 剩，主产业链各环节基本都处于亏损状态，因此光伏设备的需求 受到一定程度的抑制，在此背景下公司上半年能够实现新签订单 的增长极为不易，充分体现出了公司平台化布局抵御周期波动的 积极作用及下游客户对于公司各环节设备的高度认可。同时，公 司在 Q2 加强对于下游客户回款的风险管控，经营性现金流单季度 实现环比转正，Q1 为-2.04 亿元，Q2 为 1.94 亿元，实现了行业周 期底部经营情况的持续向好。 新技术迭代有望带来新一轮设备需求，看好 0BB 等产品放量 ...