| 证券代码：688772 | 证券简称：珠海冠宇 公告编号：2024-092 | | --- | --- | | 转债代码：118024 | 转债简称：冠宇转债 | 珠海冠宇电池股份有限公司 第二届董事会第二十四次会议决议公告 二、董事会会议审议情况 （一） 审议通过《关于控股子公司增资暨关联交易的议案》 本次控股子公司增资暨关联交易事项符合公司的长期发展战略，能够进一步 提高公司的竞争力，具有合理性和必要性。本次增资完成后，浙江冠宇电池有限 公司仍为公司的控股子公司，不影响公司合并报表范围，不会对公司财务状况和 持续盈利能力等产生重大影响，不存在损害上市公司及股东利益的情形。 表决结果：同意 4 票，反对 0 票，弃权 0 票，回避 5 票。董事徐延铭先生、 付小虎先生、牛育红先生、林文德先生、栗振华回避表决。 本议案已经公司独立董事专门会议审议通过。 本议案尚需提交公司股东大会审议。 具体内容详见同日披露于上海证券交易所网站（www.sse.com.cn）的《关于 控股子公司增资暨关联交易的公告》。 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 ...

| 证券代码：688772 | 证券简称：珠海冠宇 | 公告编号：2024-089 | | --- | --- | --- | | 转债代码：118024 | 转债简称：冠宇转债 | | 珠海冠宇电池股份有限公司 关于控股子公司增资暨关联交易的公告 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： 珠海冠宇电池股份有限公司（以下简称"珠海冠宇"或"公司"）控股 子公司浙江冠宇电池有限公司（以下简称"浙江冠宇"）拟以投前估值 307,530 万元进行增资（以下简称"本次增资"），各方合计增资金额不超过 90,000.00 万 元。本次增资完成后浙江冠宇仍为公司的控股子公司，不影响公司合并报表范围。 浙江冠宇的少数股东珠海冠启投资合伙企业（有限合伙）（以下简称"珠 海冠启"）、杭州昊蔼股权投资合伙企业（有限合伙）（以下简称"杭州昊蔼"）、 安庆汇嘉泰盛创业投资基金合伙企业（有限合伙）（以下简称"安庆汇嘉"）为 公司的关联方，同时，本轮投资人中杭州昊跃股权投资合伙企业（有限合伙）（以 下简称"杭州昊跃"）为公司的关 ...

招商证券股份有限公司 关于珠海冠宇电池股份有限公司 控股子公司增资暨关联交易的核查意见 招商证券股份有限公司（以下简称"招商证券"或"保荐机构"）作为珠海冠宇 电池股份有限公司（以下简称"珠海冠宇"或"公司"）首次公开发行股票并在科创 板上市和向不特定对象发行可转换公司债券的保荐机构，根据《证券发行上市保 荐业务管理办法》《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》等有关规定，对珠海冠宇控股子公 司增资暨关联交易的相关事项进行了审慎核查，核查情况及核查意见如下： 一、本次增资暨关联交易事项概述 （一）本次增资事项的主要内容 为增强控股子公司浙江冠宇电池有限公司（以下简称"浙江冠宇"）持续经 营和发展能力，补充其流动资金，公司分别于 2024 年 12 月 8 日、2024 年 12 月 13 日，召开公司第二届独立董事专门会议第三次会议、第二届董事会第二十四 次会议审议通过《关于控股子公司增资暨关联交易的议案》，同意公司、本轮投 资人（含其指定投资主体）以投前估值 307,530 万元对浙江冠宇进行增资。其中， 珠海冠宇拟增资 20,000.00 万元 ...

| 证券代码：688772 | 证券简称：珠海冠宇 公告编号：2024-093 | | --- | --- | | 债券代码：118024 | 债券简称：冠宇转债 | 珠海冠宇电池股份有限公司 关于诉讼进展暨终审裁定驳回原告起诉的公告 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： "一、撤销福建省福州市中级人民法院（2022）闽 01 民初 1647 号民事判决； 二、驳回宁德新能源科技有限公司的起诉。 一、诉讼的基本情况 2022 年 7 月 8 日，公司收到福建省福州市中级人民法院（以下简称"福州 中院"）送达的关于 ATL 起诉公司的《民事起诉状》等相关材料。ATL 称公司 产品涉嫌侵犯其 ZL201811308831.X 专利。具体内容详见公司于 2022 年 7 月 12 日在上海证券交易所网站（www.sse.com.cn）披露的《关于公司涉及诉讼的进展 公告》。 2023 年 7 月 7 日，公司收到福州中院出具的《民事判决书》，判决公司应 于判决生效之日起立即停止制造、销售侵害 ATL"电 ...

Company and Industry Summary Company Overview - The company primarily provides electronic batteries, categorized into consumer batteries and power storage batteries, with applications in laptops, tablets, smartphones, drones, and automotive systems. In 2023, the company ranked second globally in market share for laptops and fifth in smartphones [1][1]. Industry Insights Consumer Electronics Market - The consumer electronics industry has seen a gradual decline in demand since the end of last year, indicating a weak overall trend. However, certain segments, particularly smartphones and PCs, have shown positive growth in shipment volumes for several consecutive quarters. For instance, global PC shipments are expected to increase by 1.3% year-on-year to 66.4 million units in Q3 2024, marking four consecutive quarters of growth [2][2]. Smartphone Market - The smartphone market is benefiting from the introduction of cost-effective new products and an accelerated replacement cycle. In Q3 2024, global smartphone shipments are projected to show a year-on-year increase of 5%, achieving the best performance for the third quarter since 2021 [3][3]. Emerging Consumer Electronics - Emerging markets such as wearable devices, personal smart audio, and drones are expected to experience rapid growth driven by new technologies and products. The global shipment of wearable devices is forecasted to grow by 6% year-on-year in 2024 [4][4]. Lithium Battery Market - The global shipment of consumer lithium batteries is on an upward trend, with a 6% increase in 2023 compared to 2022, reaching 90 GWh. By 2030, this is expected to grow to 362 GWh, with a compound annual growth rate (CAGR) of 22% from 2023 to 2030 [5][5]. Company Financial Performance - The company's revenue from consumer laptops reached 6.61 billion yuan, while revenue from consumer smartphones was 3.43 billion yuan. The power business also grew rapidly, with revenue of 550 million yuan in 2023, a 38% increase from 2022 [7][7]. - The company's overseas revenue accounted for 63% of total revenue in 2023, with domestic revenue at 3.88 billion yuan, representing 34% of total revenue [7][7]. Profitability and Market Position - The company's gross profit margin for the first three quarters of 2024 was 28.3%, a year-on-year decrease of 6 percentage points but a quarter-on-quarter increase of 4.1 percentage points. The net profit margin was 4.24%, showing a year-on-year increase of 1 percentage point [8][8]. - The company has maintained a leading position in the laptop and tablet market, with market share increasing from 24% in 2020 to 31% in 2023. In the smartphone sector, battery sales grew by 13% year-on-year, with a global market share of 8.2% in 2023, up 0.75 percentage points from 2022 [9][9]. Strategic Outlook - The company is expected to benefit from the launch of AI-enabled products, particularly in the smartphone sector, as it is a key supplier for Apple. This is anticipated to enhance the company's sales and market share [10][10]. - The company is focusing on expanding its customer base and increasing the self-supply ratio of its products, which is expected to drive revenue and profit growth [10][10]. Risks and Challenges - The lithium battery industry is facing intensified competition, with leading manufacturers capturing a significant market share. If the company fails to enhance its technology or introduce competitive products, it may face risks of declining performance [13][13]. - Fluctuations in raw material prices pose a risk, as the company relies heavily on the procurement of key materials. Significant price changes could impact the company's profitability if not managed effectively [13][13].

| 证券代码：688772 | 证券简称：珠海冠宇 | 公告编号：2024-088 | | --- | --- | --- | | 转债代码：118024 | 转债简称：冠宇转债 | | 股东减持股份计划公告 本公司董事会、全体董事及相关股东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： 大股东持股的基本情况 截至本公告披露日，珠海冠宇电池股份有限公司（以下简称"公司"）股东安 义浙银汇嘉投资管理合伙企业（有限合伙）(以下简称"浙银汇嘉")及其一致行动 人安义汇嘉股权投资管理合伙企业（有限合伙）(以下简称"汇嘉股权")分别持有 公司股份 89,636,900 股（占公司总股本的 7.95%），和 2,584,881 股（占公司总股 本的 0.23%），合计持股 92,221,781 股（占公司总股本的 8.18%），上述股份为公 司首次公开发行前取得的股份，已于 2022 年 10 月 17 日解除限售并上市流通。 减持计划的主要内容 公司于 2024 年 12 月 4 日收到浙银汇嘉、汇嘉股权出具的《关于股份减持计 划的告知 ...

Group 1: Market Performance - In the first half of 2024, global notebook shipments increased by 4.12%, while smartphone shipments rose by 10.81% [1] - The consumer battery market is closely linked to the growth of downstream consumer electronics [1] - The rise of AI is expected to drive a new product innovation cycle in consumer electronics, further stimulating demand [1] Group 2: Investment and Expansion - The company plans to invest in a battery project in Malaysia to meet customer demand and enhance its overseas industrial layout [2] - The company is actively exploring and developing products for manned aircraft, leveraging its experience in consumer and industrial drones [2] Group 3: Product Development - The company has made significant progress in solid-state battery technology, with samples showing good safety performance and cycle life [2] - The low-voltage start-stop lithium battery is positioned as a core business with differentiated competition, gaining recognition from several well-known automotive companies [2] Group 4: Financial Performance - The gross profit margin increased in the first three quarters due to customer expansion, product structure optimization, and improved production efficiency [3] - The net profit decline in the first three quarters was primarily due to high exchange gains in the previous year and increased expenses for new project development [3] Group 5: Convertible Bonds - The company issued 3.089 billion RMB in convertible bonds, with a minimal conversion rate of 0.0002% as of September 30, 2024 [3] - The company is committed to promoting high-quality business development and maintaining investor interests regarding the convertible bond conversion [3]

Group 1: Drone and Low-altitude Aircraft Battery Development - The company maintains strong collaboration with clients in the drone battery sector, achieving a year-on-year revenue growth of 56.36% in the first half of 2024 [1] - Actively exploring new customers in the logistics drone market and advancing product development [2] - Continuous communication with main manufacturers in the low-altitude aircraft sector to enhance battery performance and product solutions [2] Group 2: Solid-state Battery Progress - The company's solid-state batteries are currently in the laboratory sample stage, with self-developed solid electrolyte membranes and specialized cathode materials showing high energy density [2] - The solid-state battery samples have demonstrated good safety performance and cycle life [2] - Participation in Guangdong Province's key research and development plan for quasi-solid-state lithium batteries [2] Group 3: Silicon-carbon Anode Applications - Silicon-carbon anode materials are recognized as a significant trend in lithium battery development, offering higher theoretical energy density compared to graphite anodes [2] - The company is actively researching and testing silicon-carbon anode solutions, with multiple projects in various development stages [2] Group 4: Automotive Low-voltage Lithium Battery Business - The company positions automotive low-voltage lithium batteries as a core competitive advantage, gaining recognition from several well-known domestic and international automotive manufacturers [2] - Multiple products are gradually ramping up production, becoming a major revenue source for the company's power business [2] Group 5: Consumer Battery Technology Innovations - Structural innovations include the use of steel-shell cells and irregular stacked cells to optimize internal space and increase charge capacity [2] - Research on silicon-carbon anode applications aims to enhance energy density, with ongoing studies in cathode and current collector technologies [2] Group 6: Investor Communication and Information Disclosure - The company ensured thorough communication with investors during the meeting, adhering to its information disclosure management regulations to guarantee the accuracy and completeness of disclosed information [2]

Investment Rating - The investment rating for Zhuhai Guanyu (688772) is "Outperform the Market" [2] Core Views - The company reported a significant increase in Q3 profits, with revenue of 3.17 billion yuan, a year-on-year increase of 3.4% and a quarter-on-quarter increase of 13.3%. The net profit attributable to the parent company reached 170 million yuan, up 11.4% year-on-year and 81.1% quarter-on-quarter [3] - The company's gross margin for Q3 was 28.3%, with a year-on-year decrease of 0.5 percentage points and a quarter-on-quarter increase of 4.1 percentage points. The net profit margin reached 5.2%, up 0.4 percentage points year-on-year and 2.0 percentage points quarter-on-quarter [3] - The consumer electronics sector is showing resilience, with global PC and smartphone shipments experiencing positive growth for four consecutive quarters. The company is expected to maintain its market share in laptops and see rapid growth in smartphone client acquisition [4] - The energy storage segment is focusing on reducing losses, with expectations of improvement by 2025 as the company optimizes capacity and project selection [4] Financial Summary - The company adjusted its profit forecasts for 2024-2026, with net profits revised to 490 million yuan, 890 million yuan, and 1.23 billion yuan respectively, corresponding to EPS of 0.44 yuan, 0.79 yuan, and 1.09 yuan [5] - Revenue projections for 2024-2026 are set at 11.71 billion yuan, 13.64 billion yuan, and 15.19 billion yuan, with year-on-year growth rates of 2.3%, 16.4%, and 11.4% respectively [6][10] - The gross margin is expected to improve gradually, reaching 27.1% by 2026 [10] Market Performance - The company has outperformed the market index, with a 21.34% increase compared to the market index's 8.34% [2] - The stock price has fluctuated between 11.13 yuan and 22.59 yuan over the past 52 weeks, with a closing price of 18.11 yuan on November 8 [2] Valuation - The company is assigned a price-to-earnings (P/E) ratio of 25-30 times for 2025, corresponding to a fair value range of 19.65 to 23.58 yuan [5][9]

珠海冠宇电池股份有限公司投资者关系活动记录表 证券代码：688772 证券简称：珠海冠宇 编号：2024-019 | --- | --- | --- | |-----------------------|-------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活动 \n类别 | □特定对象调研 \n□媒体采访 □业绩说明会 \n□新闻发布会 □路演活动 \n□现场参观 □一对一沟通 \n□其他 | 分析师会议 | | 参与单位 | 国投瑞银基金、南方基金 ...