Summary of Hangzhou Kelin Conference Call Company Overview - **Company**: Hangzhou Kelin - **Year**: 2024 - **Revenue**: 540 million CNY, up 168% YoY - **Net Profit**: 73.04 million CNY, up 55% YoY - **Net Cash Flow from Operating Activities**: Increased by 48% YoY, driven by growth in energy storage business and recovery of receivables [3][3][3] Key Business Segments Energy Storage Business - **Revenue**: 380 million CNY, with clients including project developers, EPC contractors, and industrial storage customers - **Growth Outlook**: Expected to remain stable, but under pressure on gross margins; the company is exploring low-investment, high-capacity expansion plans [10][10][10] New Product Launches - **Laser Acoustic Spectrum Single Acetylene Rapid Detection Device**: Highly recognized by experts, expected to generate significant orders in 2025; currently being promoted in various regions [5][5][5] - **New Monitoring Products**: Researching DC GIS online monitoring, currently in trial operation [5][5][5] Power Monitoring and Diagnostic Devices - **Revenue Decline**: 12.6% decrease attributed to delayed deliveries for Southern Power Grid products; however, future growth is anticipated due to increasing market demand for new products [6][7][6] Power Station Operations - **Revenue**: 6.66 million CNY, primarily from the Qiantang Dajiangdong energy storage station - **Future Potential**: Performance may improve significantly if the Zhejiang auxiliary service market opens up; no new large-scale power station investment plans currently [9][9][9] Research and Development - **R&D Investment**: 43.23 million CNY, up 6.7% YoY, focusing on smart grid perception, perovskite technology, and core components for robotics [4][8][8] - **Future R&D Plans**: Continued focus on main business areas with potential expansions into robotics and smart energy markets [4][8][8] Fundraising Plans - **Total Fundraising**: Up to 1.46 billion CNY, with 200 million CNY for working capital and 1.26 billion CNY for a 1 GW high-efficiency perovskite solar cell project [11][11][11] - **Project Timeline**: The perovskite project is planned to be completed in four phases over four years [12][12][12] Market and Technology Outlook - **Perovskite Technology**: Seen as a viable alternative to silicon, particularly in low-light and consumer electronics applications; the company anticipates a diversified technology roadmap [14][14][14] - **Component Efficiency**: Current average conversion efficiency of delivered components is around 17% to 18%, with expectations for significant improvements [13][13][13] Future Growth and Market Expansion - **Revenue Goals**: Plans to establish a GW-level production line, targeting a capacity of 300 MW to 500 MW by the third year, with gradual increases [17][17][17] - **Exploration of New Growth Points**: The company is considering mergers and acquisitions to extend its industry layout, contingent on product compatibility [23][23][23] - **International Market Expansion**: Long-term plans to enter overseas markets with potential products including perovskite solar cells and energy storage solutions [24][24][24] 2025 Performance Expectations - **Q1 Performance**: Expected to be flat or slightly increased compared to 2024, with significant revenue from perovskite solar cells and energy storage anticipated from Q2 onwards [25][25][25] - **Order Status**: Orders for 2025 are at full production capacity, but delivery timelines remain uncertain due to project delays [26][26][26]

Core Viewpoint - Hangzhou Kelin (688611.SH) reported its 2024 annual results, revealing significant institutional investor interest with 26 institutions holding a total of 18.71 million shares, representing 17.07% of the total share capital [1] Group 1: Institutional Holdings - A total of 26 institutional investors disclosed their holdings in Hangzhou Kelin, with a combined shareholding of 18.71 million shares, accounting for 17.07% of the total share capital [1] - The top ten institutional investors collectively hold 16.98% of the shares, with a slight decrease of 0.01 percentage points compared to the previous quarter [1] Group 2: Public Fund Activity - Four public funds increased their holdings in this period, with an increase in shareholding proportion of 0.62% [2] - A total of 20 new public funds disclosed their holdings compared to the previous quarter, including notable funds such as 富国积极成长一年定期开放混合 and 景顺长城稳健回报混合A类 [2] - Two public funds were not disclosed in this period compared to the previous quarter, indicating a reduction in reporting [2]

2025年4月2日，杭州柯林发布了2024年年报。报告显示，公司实现营业收入5.41亿元，同比增长 168.23%；归属于上市公司股东的净利润为7303.86万元，同比增长54.72%。尽管业绩增长显著，但公司 在研发投入和市场竞争方面仍面临挑战。 公司在数智感知产品研发方面取得了一定成果，如KLJC-02/51型激光声谱乙炔快速检测装置的成功研发 和挂网试运行。然而，研发投入的不足可能限制了公司在其他关键技术领域的突破，如钙钛矿光伏技术 的进一步研发和商业化应用。 三、储能业务快速发展，但市场竞争加剧 杭州柯林在储能业务方面取得了显著进展，自建的100MWh电化学储能电站成功并网，并交付了省外 620兆瓦时电网侧储能系统订单。这些项目的成功实施不仅带来了可观的经济收益，也提升了公司在复 杂项目交付中的技术、组织与执行能力。然而，随着储能市场的快速发展，市场竞争也日益加剧。 公司在储能业务方面的技术积累和项目经验为其在市场中赢得了一定的竞争优势。然而，面对日益激烈 的市场竞争，公司需要进一步提升技术水平和项目管理能力，以保持市场竞争力。此外，公司还需要关 注储能技术的创新和成（002001）本控制，以应对市场 ...

Core Viewpoint - The company, Hangzhou Kolin Electric Co., Ltd., focuses on the development, production, and sales of digital intelligent sensing products for power grids, energy storage systems, and perovskite photovoltaic components, aiming to support the construction of a new power system and achieve sustainable development in the energy sector [7][35]. Company Overview - Hangzhou Kolin is a high-tech enterprise specializing in the construction of new power systems, with a product matrix covering "generation, transmission, transformation, and distribution" across various voltage levels [7][35]. - The company has developed dozens of intelligent monitoring series products and a digital platform for online diagnosis and early warning, achieving international leading levels in several core technologies [35][36]. Business Model - The company adopts a proactive development approach based on market demand and collaborates closely with clients to develop new products that align with industry trends [14]. - The procurement model includes ordinary procurement, customized procurement, and outsourcing, ensuring flexibility and efficiency in sourcing materials [15]. - The production model is primarily order-based, allowing the company to adjust production according to market demand and customer requirements [16]. Industry Situation - The new power system construction is a key strategy for achieving carbon neutrality goals and ensuring energy security in China, with significant policy support and market demand driving growth in the sector [19][20]. - The company is positioned in the rapidly evolving fields of digital intelligent sensing technology and energy storage systems, which are critical for the safe and efficient operation of the new power system [19][20]. Technological Advancements - The company has made significant progress in developing advanced technologies, including intelligent sensing, data analysis, and AI diagnostics, which are essential for real-time monitoring and fault prediction in power equipment [8][41]. - The introduction of the laser acoustic spectrum acetylene rapid detection device represents a breakthrough in power equipment detection technology, significantly reducing detection time and improving accuracy [39]. Future Development Trends - The company plans to enhance its digital intelligent sensing technology by integrating multi-modal sensing, edge intelligence, and digital twin collaboration, which will improve the predictive maintenance capabilities of power systems [41]. - The market for perovskite solar cells is expected to expand significantly, driven by advancements in flexible solar technology and increasing applications in various sectors [42]. - The demand for six-dimensional force sensors in humanoid robots is anticipated to grow rapidly as the industry moves towards mass production, creating new opportunities for the company [42].

目 录 | 一、审计报告……………………………………………………… 第 1—6 | | 页 | | --- | --- | --- | | 二、财务报表……………………………………………………… 第 7—14 | | 页 | | （一）合并资产负债表…………………………………………… 第 | 7 | 页 | | （二）母公司资产负债表………………………………………… 第 | 8 | 页 | | （三）合并利润表………………………………………………… 第 | 9 | 页 | | （四）母公司利润表………………………………………………第 | 10 | 页 | | （五）合并现金流量表……………………………………………第 | 11 | 页 | | （六）母公司现金流量表…………………………………………第 | 12 | 页 | | （七）合并所有者权益变动表……………………………………第 | 13 | 页 | | （八）母公司所有者权益变动表…………………………………第 | 14 | 页 | | | | | | | 审 计 报 告 天健审〔2025〕2803 号 杭州柯林电气股份有限公司全体股东： 一、审计意见 我们 ...

根据《上市公司独立董事管理办法》《上海证券交易所科创板股票上市规则》 《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》等相关规 定，杭州柯林电气股份有限公司(以下简称"公司")董事会，就公司在任独立董 事戴国骏先生、缪兰娟女士、毛卫民先生的独立性情况进行评估，出具如下专项 意见： 经核查公司独立董事戴国骏先生、缪兰娟女士、毛卫民先生的任职经历以及 签署的相关自查文件，上述人员未在公司担任除独立董事以外的任何职务，也未 在公司主要股东公司担任任何职务，与公司以及主要股东之间不存在利害关系或 其他可能妨碍其进行独立客观判断的关系，因此，公司董事会认为，公司独立董 事符合《上市公司独立董事管理办法》《上海证券交易所科创板上市公司自律监 管指引第 1 号——规范运作》等规定中对独立董事独立性的相关要求。 杭州柯林电气股份有限公司 杭州柯林电气股份有限公司董事会 2025 年 4 月 2 日 董事会对独立董事独立性自查情况的专项报告 ...

（二）投资者保护能力 杭州柯林电气股份有限公司 关于对会计师事务所 2024 年度履职情况评估报告 杭州柯林电气股份有限公司（以下简称"公司"）聘请天健会计师事务所（特 殊普通合伙）（以下简称"天健"）作为公司 2024 年度出具审计报告的会计师事 务所。根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治理 准则》《国有企业、上市公司选聘会计师事务所管理办法》等规定和要求，公司 对会计师事务所 2024 年度履职情况进行了评估，具体情况汇报如下： 一、2024 年年审会计师事务所基本情况 （一）会计师事务所基本情况 天健会计师事务所（特殊普通合伙）成立于 2011 年 7 月 18 日，注册地址为 浙江省杭州市西湖区灵隐街道西溪路 128 号，首席合伙人为钟建国先生，拥有财 政部颁发的会计师事务所执业证书，具有多年证券业务从业经验。截至 2024 年 12 月 31 日，天健会计师事务所（特殊普通合伙）合伙人数量为 241 人，注册会 计师 2,356 人，其中签署过证券服务业务审计报告的注册会计师 904 人。2024 年度上市公司(含 A、B 股)审计客户共计 707 家，收费总额人民币 7 ...

目 录 一、募集资金年度存放与使用情况鉴证报告………………………第 1—2 页 二、关于募集资金年度存放与使用情况的专项报告………………第 3—8 页 募集资金年度存放与使用情况鉴证报告 天健审〔2025〕3107 号 杭州柯林电气股份有限公司全体股东： 我们鉴证了后附的杭州柯林电气股份有限公司（以下简称杭州柯林公司）管 理层编制的 2024 年度《关于募集资金年度存放与使用情况的专项报告》。 一、对报告使用者和使用目的的限定 本鉴证报告仅供杭州柯林公司年度报告披露时使用，不得用作任何其他目的。 我们同意将本鉴证报告作为杭州柯林公司年度报告的必备文件，随同其他文件一 起报送并对外披露。 二、管理层的责任 杭州柯林公司管理层的责任是提供真实、合法、完整的相关资料，按照《上 市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求（2022 年 修订）》（证监会公告〔2022〕15 号）和《上海证券交易所科创板上市公司自 律监管指引第 1 号——规范运作（2023 年 12 月修订）》（上证发〔2023〕194 号）的规定编制《关于募集资金年度存放与使用情况的专项报告》，并保证其内 容真实、准确、完整，不 ...

证券代码：688611 证券简称：杭州柯林 公告编号：2025-020 杭州柯林电气股份有限公司（以下简称"公司"）于 2025 年 4 月 2 日召开了 第四届董事会第四次会议，会议审议通过了《关于变更注册资本、修订<公司章 程>并办理工商登记的议案》，该议案尚需提交公司股东大会审议。现将有关情况 公告如下： 一、变更公司注册资本的相关情况 公司于 2025 年 4 月 2 日召开了杭州柯林电气股份有限公司第四届董事会第 四次会议，审议通过《关于公司 2024 年度利润分配及资本公积转增股本预案的 议案》，公司以实施权益分派股权登记日登记的总股本为基数，向全体股东每 10 股派发现金红利人民币 2.00 元（含税），同时以资本公积向全体股东每 10 股转 增 4 股，公司总股本为 10,956.40 万股，本次合计拟转增 4,382.56 万股，转增后 公司总股本增加至 15,338.96 万股（具体以中国证券登记结算有限责任公司登记为 准）。上述议案尚需经过股东大会审议通过。 二、修订公司章程并办理工商变更登记的情况 上述利润分配及资本公积金转增股本预案尚需提交股东大会通过后实施，公 司将根据本次权益分派 ...

证券代码：688611 证券简称：杭州柯林 公告编号：2025-019 杭州柯林电气股份有限公司 关于续聘 2025 年度审计机构的公告 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： 拟聘任的会计师事务所名称：天健会计师事务所（特殊普通合伙） 1、基本信息 | 事务所名称 | 天健会计师事务所（特殊普通合伙） | | | | --- | --- | --- | --- | | 成立日期 | 年 月 日 组织形式 2011 18 | 7 | 特殊普通合伙 | | 注册地址 | 浙江省杭州市西湖区灵隐街道西溪路 | | 128 号 | | 首席合伙人 | 钟建国 上年末合伙人数量 | | 人 241 | | 上年末执业人 | 注册会计师 | | 2,356 人 | | 员数量 | 签署过证券服务业务审计报告的注册会计师 | | 人 904 | | 年（经审 2023 | 业务收入总额 34.83 亿元 | | | | 计）业务收入 | 审计业务收入 30.99 亿元 | | | | | 证券业务收入 18.4 ...