Group 1: Company Overview and Market Position - Shenzhen Weimais New Energy (Group) Co., Ltd. is one of the earliest manufacturers in the industry to invest in the research, production, and sales of wireless charging systems for electric vehicles [2] - The company has established long-term strategic partnerships with several well-known domestic automakers, including SAIC Group and Geely [2] - The company is actively pursuing a "go global" strategy, participating in the global new energy vehicle market competition [2] Group 2: Financial Performance and Projections - The company expects to maintain its market share in the domestic new energy vehicle market while actively expanding its customer base [2] - The estimated overseas revenue share for 2025 is expected to increase due to successful partnerships with international brands like Stellantis and Renault [2] - The company’s product shipment volume for the third quarter of 2024 is approximately 600,000 units [3] Group 3: Competitive Landscape and Product Development - The company has a strong competitive position in the vehicle power supply sector, with a unique fourth-generation vehicle power supply integration product [3] - The competitive landscape in the electric drive system sector is relatively fragmented, and the company is focusing on innovation in integrated electric drive products [3] - The improvement in net profit for the subsidiary, Shanghai Weidis, is attributed to increased production volume and effective cost distribution [4] Group 4: Future Strategies and M&A Plans - The company plans to control the pace of acquisitions and mergers, focusing on the new energy vehicle sector [4] - The company aims to ensure that any acquisition targets create synergistic effects with its core business [4]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 30.80 CNY over the next six months [1][7]. Core Insights - The company reported a steady revenue growth of 21.35% year-on-year for the first three quarters of 2024, achieving a total revenue of 4.36 billion CNY. The net profit attributable to shareholders increased by 2.81% year-on-year to 296 million CNY [1]. - The gross margin improved slightly, with a gross margin of 19.70% for the first three quarters of 2023, up by 1.1 percentage points year-on-year. However, the net profit margin decreased to 6.98%, down by 0.89 percentage points year-on-year [1]. - The company is expanding its market share in the domestic passenger car onboard charger market, ranking second with a 19.6% market share as of August 2024 [1]. - The company has received positive feedback for its integrated onboard power supply products from overseas clients and is accelerating its expansion into international markets [1]. Financial Performance - For Q3 2024, the company achieved a revenue of 1.589 billion CNY, with a quarter-on-quarter growth of 18.68% and a year-on-year growth of 13.20%. The net profit for Q3 was 80 million CNY, reflecting a quarter-on-quarter increase of 5.50% but a year-on-year decrease of 20.77% [1]. - The company forecasts a compound annual growth rate (CAGR) of 14.1% for net profit from 2024 to 2026, with expected net profits of 457 million CNY, 591 million CNY, and 747 million CNY for the respective years [1][6]. Business Segments - The onboard power supply business is expected to see significant growth, with projected sales volumes of 2.32 million, 2.96 million, and 3.44 million units from 2024 to 2026 [4]. - The electric drive business is also expanding, with expected sales volumes of 86,500, 90,800, and 95,400 units from 2024 to 2026, benefiting from an integrated approach [5]. - The company anticipates a revenue increase of 10% for its other businesses, including electric vehicle communication controllers and liquid-cooled charging modules, maintaining a gross margin of 33% [5]. Valuation Metrics - The company is compared with peers such as Xinrui Technology and Inbol, with an average PE ratio of 22 times for 2025, leading to the target price of 30.80 CNY [7][8]. - The projected revenue for the company is expected to reach 6.436 billion CNY, 7.948 billion CNY, and 9.076 billion CNY from 2024 to 2026, with growth rates of 16.53%, 23.50%, and 14.19% respectively [6][10].

经济收入利润同比增速其实有所爆发另外也有受到公司的海外客户Sledge集团的影响下期影响那么环比维度来说收入和利润都会略有波动那么三费的维度来讲销售费用呢三季度销售费用率环比持续有下降的在管理费用层面呢 也是由于部分折旧摊销费用的一些增加管理费用越有波动那么在财务费用为主因为控制了这个贷息负债的规模提高了资金效率公司的财务费用整体依然能够保持在相对较低的水平那么接下来有请 我们的董事会秘书兼财务总监刘华理总来和大家做进一步的交流 好的接下来进入互动交流环节欢迎各位投资者积极提问电话专投资者可输入数字5件申请提问在允许发言后按数字6件解除静音网络专投资者可点击下方举手按钮申请提问或点击问答按钮进行文字提问谢谢 现在是互动交流环节电话专投资者可输入数字5件申请提问在允许发言后按数字6件截除定音网络专投资者可点击下方举手按钮申请提问或点击问答按钮进行文字提问下面进入开源正确应动提问喂听得清吗 李总您好李总好也感谢刚刚张总的分享我先包括引用请教一个问题就是咱们看到三级柱毛利率下的往底下的还是比较多的就想请教一下公司就是这块主要的原因包括往后看的话毛利率的一个趋势这是第一个小问题好的三级柱其实每一年三级柱都有一个 重要 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's Q3 performance met expectations, with revenue of 4.4 billion yuan, a year-on-year increase of 21%, and a net profit attributable to shareholders of 300 million yuan, a year-on-year increase of 3% [2] - The company maintains a stable market share in power supplies, with its electric drive business starting to ramp up, and it has achieved mass production of wireless charging technology [3] - The product structure is continuously optimized, with an expected increase in overseas customer volume in 2025, which is anticipated to enhance profitability [4] - The expense ratio has decreased, and the operating cash flow is strong, with a notable increase in cash flow in Q3 [5] Revenue and Profit Forecast - The company’s total revenue is projected to reach 6.642 billion yuan in 2024, with a year-on-year growth of 20.27% [1] - The net profit attributable to shareholders is expected to be 517.83 million yuan in 2024, reflecting a year-on-year increase of 3.07% [1] - The earnings per share (EPS) is forecasted to be 1.23 yuan in 2024, with a price-to-earnings (P/E) ratio of 20.32 [1] Financial Performance - For the first three quarters of 2024, the company reported a gross margin of 19.7%, a year-on-year increase of 1.1 percentage points, and a net profit margin of 6.8%, a decrease of 1.2 percentage points [2] - The average selling price of vehicle-mounted power supplies was 2,275 yuan per unit in the first three quarters, with a slight decline in Q3 due to seasonal factors [4] - The company’s operating cash flow for the first three quarters was 360 million yuan, a decrease of 36% year-on-year, but Q3 cash flow showed a significant increase [5]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has seen a continuous increase in R&D investment, with Q3 performance meeting expectations. For the first nine months of 2024, the company achieved revenue of 4.36 billion yuan, a year-on-year increase of 21.4%, and a net profit attributable to shareholders of 300 million yuan, up 2.8% year-on-year. In Q3 2024, revenue was 1.59 billion yuan, a year-on-year increase of 18.7%, with a net profit of 80 million yuan, up 5.5% year-on-year. The R&D expenses reached a record high of 100 million yuan in Q3, corresponding to an R&D expense ratio of 6.4% [2][3] Summary by Sections Financial Performance - For 2024, the company is projected to achieve revenues of 6.76 billion yuan, with a year-on-year growth of 22.4%. The net profit attributable to shareholders is expected to be 561 million yuan, reflecting an 11.7% increase. The earnings per share (EPS) are forecasted at 1.33 yuan, with corresponding price-to-earnings (P/E) ratios of 19.5, 15.9, and 12.1 for 2024, 2025, and 2026 respectively [2][5] Market Position - The company holds a significant market share in the domestic market, ranking second in the onboard charger market for passenger vehicles with a 19.6% share as of August 2024. It has maintained the top position in the third-party supply market since 2020. The company has established partnerships with major automotive manufacturers, including SAIC Audi and Great Wall Motors, enhancing its market presence [3] Shareholder Returns - The company has proposed a mid-term dividend of 2.57 yuan per 10 shares (before tax), with a cash dividend payout ratio exceeding 50%. Additionally, the company announced a share buyback plan of 50 million to 100 million yuan to support employee stock ownership plans and reduce registered capital [4]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase of over 15% compared to the CSI 300 index in the next six months [1][8]. Core Views - The company continues to lead in the onboard power supply market, with rapid growth in electric drive assembly revenue. As of August 2024, the company holds a 19.6% market share in China's passenger car onboard charger market, ranking second overall and maintaining the first position in the third-party supply market since 2020 [3]. - The company reported a revenue of 4.36 billion yuan for the first three quarters of 2024, a year-on-year increase of 21.4%, with a net profit of 300 million yuan, up 2.8% year-on-year [2][3]. - The company has established a partnership with SAIC Audi to provide technology support and onboard power products for its first pure electric model, expected to launch in 2025 [3]. Financial Summary - For the first three quarters of 2024, the company achieved a revenue of 4.36 billion yuan, with a net profit of 300 million yuan and a non-recurring net profit of 270 million yuan, reflecting year-on-year growth rates of 21.4%, 2.8%, and 2.2% respectively [2]. - The company’s revenue is projected to grow from 5.52 billion yuan in 2023 to 10.25 billion yuan by 2026, with a compound annual growth rate (CAGR) of approximately 20.08% [5]. - The gross profit margin for the first three quarters of 2024 was 19.70%, an increase of 1.10 percentage points year-on-year, indicating strong profitability despite competitive pressures [3][5]. Shareholder Returns - The company announced a cash dividend of 2.57 yuan per 10 shares, totaling approximately 108 million yuan, which represents 50.15% of the net profit for the first half of 2024 [3]. - The company plans to repurchase shares with a budget of 50 to 100 million yuan, reflecting its commitment to returning value to shareholders [3].

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： 证券代码：688612 证券简称：威迈斯 公告编号：2024-053 深圳威迈斯新能源（集团）股份有限公司 关于控股子公司减资的自愿性披露公告 本次深圳威迈斯新能源（集团）股份有限公司（以下简称"公司"）控股子公司深圳 市华源电源科技有限公司（以下简称"华源电源"）减资事项不构成关联交易，亦不构成《上 市公司重大资产重组管理办法》规定的重大资产重组； 本次华源电源减资事项完成后，华源电源将成为公司参股公司，不再纳入公司合并报 表范围，不会对公司正常生产经营产生重大不利影响。 一、本次减资事项概述 2021 年 4 月 30 日，公司与深圳市英可瑞科技股份有限公司（以下简称"英 可瑞"）共同投资设立华源电源，注册资本为 4,000 万元，其中公司认缴出资 2,040 万元，股权占比 51%；英可瑞认缴出资 1,960 万元，股权占比 49%。截至本公告 披露之日，公司持有华源电源 51%的股权，英可瑞持有华源电源 49%的股权。 根据公司整体战略规划，华源电源拟 ...

《科创板日报》10月25日讯（记者 余佳欣）今日（10月25日），威迈斯发布2024年第三季度业绩报。 今年前三季度，该公司实现营收43.6亿元，同比增加21.35%；实现归母净利润2.96亿元，同比增加 2.81%。 单季度来看，其今年各季度净利润环比均有所下降。第三季度实现营收15.89亿元，同比增加18.68%； 实现归母净利润8042.45万元，同比增加5.5%，环比减少约20.78%。 威迈斯主要从事新能源汽车动力域产品的研发、生产、销售和技术服务，主要产品包括车载电源的车载 充电机、车载DC/DC变换器、车载电源集成产品，电驱系统的电机控制器、电驱总成，电动汽车通信 控制器以及液冷充电桩模块等。 对于业绩增长，威迈斯表示，主要得益于2024年新能源汽车行业的持续增长，其中电驱多合一总成产品 作为新能源汽车主要零部件。今年前三季度，该公司电驱多合一总成产品实现营业收入2.87亿元。 财报显示，该公司前三季度研发投入2.8亿元，同比增加42.36%；研发投入占营业收入的比例为6.42%。 业务进展方面，威迈斯三季报提及，今年9月，其与上汽奥迪正式建立合作，为其智能数字平台首款纯 电车型提供技术支持和车 ...

（一）审议通过《公司 2024 年第三季度报告》 证券代码：688612 证券简称：威迈斯 公告编号：2024-052 深圳威迈斯新能源（集团）股份有限公司 第二届监事会第十五次会议决议公告 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 深圳威迈斯新能源（集团）股份有限公司（以下简称"公司"）第二届监事会 第十五次会议，于 2024 年 10 月 15 日发出会议通知，2024 年 10 月 25 日以现场 与通讯表决相结合的方式召开。本次会议应参与监事 3 名，实际参与监事 3 名。 监事会主席张昌盛先生主持本次会议，监事会会议的召集、召开及表决程序符合 国家有关法律、法规及《公司章程》的规定。 二、监事会会议审议情况 本次会议审议通过了如下议案： 经审核，监事会认为：董事会编制和审议《公司 2024 年第三季度报告》的程 序符合法律、行政法规及中国证监会的规定，报告内容真实、准确、完整地反映 了公司 2024 年前三季度的财务状况和经营成果情况，不存在任何虚假记载、误 导性陈述或者重大遗漏。 ...

Financial Performance - The company's operating revenue for Q3 2024 reached ¥1,588,929,443.91, representing an increase of 18.68% year-over-year[2] - The net profit attributable to shareholders for the same period was ¥80,424,462.73, reflecting a growth of 5.50% compared to the previous year[2] - For the first three quarters of 2024, the company achieved operating revenue of RMB 435,998.94 million, a year-on-year increase of 21.35%[8] - The net profit attributable to shareholders for the same period was RMB 29,613.07 million, reflecting a year-on-year growth of 2.81%[9] - The net profit for Q3 2024 was CNY 304,244,862.84, an increase from CNY 282,715,615.72 in Q3 2023, representing a growth of approximately 7.3%[15] - The total revenue from sales of goods and services for the first three quarters of 2024 reached CNY 3,283,469,949.86, compared to CNY 2,616,886,552.44 in the same period of 2023, indicating a year-over-year increase of about 25.4%[17] Research and Development - Research and development expenses totaled ¥101,269,745.65 in Q3 2024, which is an increase of 16.87% year-over-year, accounting for 6.37% of operating revenue[3] - Research and development expenses increased to CNY 279,980,764.00 in the first three quarters of 2024, compared to CNY 196,672,086.66 in 2023, reflecting a growth of 42.3%[14] - The company is focusing on expanding its market presence and investing in new technologies, as indicated by the increase in R&D spending[14] Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥7,518,054,803.21, marking a 3.97% increase from the end of the previous year[3] - The company's total assets as of the end of Q3 2024 amounted to CNY 7,518,054,803.21, an increase from CNY 7,230,785,604.26 at the end of Q3 2023[14] - Current liabilities totaled CNY 3,814,164,525.80, up from CNY 3,482,306,752.25 in the previous year, indicating a rise of 9.5%[13] - The company's total equity attributable to shareholders was CNY 3,320,565,851.63, a decrease from CNY 3,378,478,202.09 in the same period last year[14] - The company reported a significant increase in accounts payable, which rose to CNY 2,067,022,645.18 from CNY 1,886,274,729.75, reflecting a growth of 9.6%[13] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was ¥359,819,589.15, showing a decline of 36.29% compared to the previous year[3] - The cash flow from operating activities for the first three quarters of 2024 was CNY 359,819,589.15, down from CNY 564,741,730.70 in the same period of 2023, showing a decrease of about 36.2%[18] - The company's cash and cash equivalents as of September 30, 2024, were RMB 1,327,108,423.39, down from RMB 1,556,602,810.74 at the end of 2023[11] - The cash and cash equivalents at the end of Q3 2024 were CNY 1,090,776,755.34, a decrease from CNY 2,347,856,599.83 at the end of Q3 2023[19] - The company incurred a net cash outflow from financing activities of CNY 166,643,000.50 in Q3 2024, compared to a net inflow of CNY 1,873,517,663.27 in Q3 2023[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,083[6] - The largest shareholder, Wan Renchun, holds 19.23% of the company's shares, totaling 80,934,338 shares[6] Market Position and Strategic Initiatives - As of August 2024, the company held a 19.6% market share in the Chinese passenger car onboard charger market, ranking second overall[9] - The company plans to distribute a cash dividend of RMB 2.57 per 10 shares, totaling approximately RMB 108,185,985.49, which represents 50.15% of the net profit for the first half of 2024[9] - The company intends to repurchase shares with a budget of between RMB 50 million and RMB 100 million, with a maximum repurchase price of RMB 35.00 per share[9] - The company acquired a 38.50% stake in WidiSi Motor Technology (Shanghai) Co., Ltd. for RMB 144.375 million, aiming to enhance its product capabilities[10] - The company received the "Global Supplier Quality Award" from Stellantis in September 2024, recognizing its innovation and product quality in the overseas market[9] - The company established a partnership with SAIC Audi to provide technical support for its first pure electric model, expected to launch in 2025[9]