| 证券代码：688772 | 证券简称：珠海冠宇 公告编号：2024-070 | | --- | --- | | 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 2023 年 7 月，公司收到福建省福州市中级人民法院送达的关于 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 ZL201721631032.7 号专利（该专利对应两个案件）。具体内容详见公司于 2023 年 7 月 15 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公告》。 近日，公司收到福建省福州市中级人民法院出具的两份《民事裁定书》。根 据该等裁定书，关于 ZL201721631032.7 号专利涉及的两个案件，法院均裁定准 许 ATL 撤诉，该案件受理费减半收取并由 ATL 承担。 二、涉及诉讼的情况 近日，公司收到 ATL 寄出的在美国德克萨斯州东区联邦地区法院起诉公司 专利侵权的相关材料。ATL 称公司产品涉嫌侵犯其 US11575148 号、US11769910 案件所处的诉讼阶段：原告撤诉；已立案暂未开庭审理 公司所处的当事人地位：第一 ...

Group 1: Investor Relations Activities - The investor relations activities included meetings with various financial institutions such as Tianfeng Securities and Xinyin Wealth Management [1] - The events took place on September 11 and 12, 2024, in Shanghai and Zhuhai [1] - The format of the meetings included both in-person and online sessions [1] Group 2: Business Performance - The company reported a 10.51% year-on-year increase in sales volume for laptop batteries in the first half of the year [3] - Smartphone battery sales also saw a growth of 13.09% year-on-year during the same period [3] - The self-supply ratio for consumer PACK business reached 39.84%, an increase of 7.87 percentage points year-on-year [3] Group 3: Product Development - The company is actively involved in multiple folding machine projects, with some products already in mass production [2] - The application of silicon-carbon anode materials is a key trend, with silicon content typically between 3%-5% in mass production projects [3] - The company has recognized the automotive low-voltage lithium battery as a core business, achieving a revenue of 406 million yuan, with automotive batteries and drone batteries accounting for 69.33% of this revenue [3] Group 4: Research and Development Collaboration - The company is a major shareholder in the Guangdong New Energy Storage National Research Institute, participating in the establishment of a national innovation center for new energy storage [4] - This collaboration aims to enhance resource sharing and technological advancements in energy storage [4] - The company ensures compliance with information disclosure regulations, maintaining transparency during investor communications [4]

证券代码：688772 证券简称：珠海冠宇 珠海冠宇电池股份有限公司投资者关系活动记录表 编号：2024-016 | --- | --- | --- | |-----------------------|--------------------------------------------------------------------------------------|--------------------------------------------------------------------| | 投资者关系活动 \n类别 | □特定对象调研 \n□媒体采访 \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 \n 业绩说明会 | | 参与单位 | 参与 2024 | 年半年度科创板新能源专场集体业绩说明会并提问的投资者 | | 时间 | 2024 年 9 月 9 日 | | | 地点 | 上海证券交易所上证路演中心（网址： | http://roadshow.sseinfo.com ） | | 形式 | 线上会议 | | | | 董事长、总经理 | 徐 ...

证券代码：688772 证券简称：珠海冠宇 公告编号：2024-068 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 关于参加广东辖区 2024 年投资者 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，珠海冠宇电池股份有限公司（以下简称 "公司"）将参加由广东证监局、广东上市公司协会联合举办的"坚定信心 携 手共进 助力上市公司提升投资价值——2024 广东辖区上市公司投资者关系管 理月活动投资者集体接待日"活动，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net）参与本次互动交流，活动时间为 2024 年 9 月 12 日（周四） 15:30-16:30。 届时公司高管将在线就公司 2024 年半年度业绩、公司治理、发展战略、经 营状况、融资计划、股权激励和可持续发展等投资者关心的问题，与投资者进行 沟通与交流，欢迎广大投资者踊跃参与！ 特此公告。 珠海冠宇电池股 ...

证券代码：688772 证券简称：珠海冠宇 珠海冠宇电池股份有限公司投资者关系活动记录表 编号：2024-015 | --- | --- | --- | |-----------------------------|-------------------------------------------------------------|------------------------------------------------------------------| | 投资者关系活动 \n类别 | □特定对象调研 \n□媒体采访 \n□新闻发布会 \n□现场参观 \n□其他 | 分析师会议 \n □业绩说明会 \n □路演活动 \n □一对一沟通 | | 参与单位 | | | | 时间 | 2024 年 9 月 5 日 | | | 地点 | 上海 | | | 形式 | 现场会议 | | | 接待人员 | 投资者关系负责人 | 王子越 | | | 主要内容介绍： | | | | 1 | 、请问公司有参与折叠机项目吗？电池有什么变化？ | | | | | | | | | | 投资者关系活动 主要内容介绍 | ...

Investment Rating - The report maintains a "Buy-A" rating for the company with a target price of 14.54 CNY [1][2]. Core Views - The company achieved a turnaround in Q2 performance, with a significant increase in the self-supply ratio of consumer battery packs [1]. - The sales volume of consumer batteries, particularly for laptops and smartphones, showed stable year-on-year growth, with laptop battery sales increasing by 10.51% and smartphone battery sales by 13.09% [1]. - The automotive low-voltage lithium battery segment saw a remarkable revenue growth of 730.35%, becoming a major source of revenue for the company [1]. - The company is actively enhancing its R&D investments, with R&D expenses in the first half of 2024 amounting to 664 million CNY, representing 12.42% of total revenue, and a year-on-year increase of 37.24% [1]. - The company is adjusting its production capacity to align with market demands, with ongoing projects in various regions [1]. Financial Data Summary - For the fiscal year 2024, the company is projected to achieve total revenue of 12.67 billion CNY, with a year-on-year growth of 10.7% [3]. - The net profit attributable to the parent company is expected to reach 582 million CNY in 2024, reflecting a year-on-year increase of 69% [3]. - The gross margin is projected to be 25.6% in 2024, with a net margin of 4.6% [3]. - The company's P/E ratios for 2024, 2025, and 2026 are estimated to be 28.2, 16.5, and 10.5 respectively [2][3].

| 证券代码：688772 转债代码：118024 | | 公告编号：2024-067 | | --- | --- | --- | | | 证券简称：珠海冠宇 转债简称：冠宇转债 | | 珠海冠宇电池股份有限公司 关于参加 2024 年半年度科创板集体业绩说明会的公 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"公司"）已于 2024 年 8 月 16 日披 露公司《2024 年半年度报告》，为便于广大投资者更全面深入地了解公司 2024 年 半年度经营成果、财务状况，公司计划于 2024 年 9 月 9 日（星期一）下午 14:00- 16:00 参加由上海证券交易所主办的 2024 年半年度科创板新能源专场集体业绩 说明会，就投资者关心的问题进行交流。 一、说明会类型 本次业绩说明会以网络文字互动形式召开，公司将针对 2024 年半年度的经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 会议召开时间： ...

Investment Rating - The report maintains a "Recommended" rating for Zhuhai Guanyu (688772) with a target price of 17.84 CNY [2]. Core Views - The company's H1 2024 revenue reached 5.347 billion CNY, a decrease of 2.31% year-on-year, while the net profit attributable to shareholders was 102 million CNY, down 27.53% year-on-year. However, the non-recurring net profit increased by 72.62% year-on-year to 26 million CNY [2]. - The company has strengthened its market share in consumer batteries, with notebook battery sales increasing by 10.51% year-on-year and smartphone battery sales rising by 13.09% year-on-year. The self-supply ratio for consumer PACK business reached 39.84%, up 7.87 percentage points year-on-year [2]. - The company is adjusting its production capacity and expanding its global presence, with plans to invest up to 2 billion CNY in a consumer lithium battery project in Malaysia [2]. Financial Summary - Total revenue for 2023 is projected at 11.446 billion CNY, with expected growth rates of 18.7% in 2024, 19.4% in 2025, and 18.1% in 2026 [3]. - The net profit attributable to shareholders is forecasted to grow significantly from 344 million CNY in 2023 to 1.439 billion CNY in 2026, reflecting a growth rate of 278.2% in 2024 [3]. - The company's earnings per share (EPS) is expected to increase from 0.31 CNY in 2023 to 1.28 CNY in 2026, with corresponding price-to-earnings (P/E) ratios of 45, 29, 15, and 11 for the respective years [3]. Company Data - The total market capitalization of Zhuhai Guanyu is approximately 15.579 billion CNY, with a circulating market value of 10.644 billion CNY [6]. - The company has a total share capital of approximately 1.127 billion shares, with 770 million shares listed for circulation [6].

[Table_MainInfo] 公司研究/信息设备 证券研究报告 珠海冠宇（688772）公司研究报告 2024 年 08 月 21 日 投资评级 优于大市 首次 覆盖 股票数据 | --- | --- | |------------------------------------------|-------------| | 08[Table_StockInfo 月 20 日收盘价（元）] | 13.40 | | 52 周股价波动（元） | 11.13-22.59 | | 总股本/流通 A 股（百万股） | 1127/770 | | 总市值/流通市值（百万元） | 15106/10320 | | 相关研究 | | [Table_ReportInfo] 市场表现 [Table_QuoteInfo] 珠海冠宇 海通综指 -41.48% -31.48% -21.48% -11.48% -1.48% 8.52% 2023/8 2023/11 2024/2 2024/5 [Table_AuthorInfo] 分析师:吴杰 Tel: (021) 23183818 Email:wj10521@haitong.com 证 ...

Investment Rating - The report maintains an "Outperform" rating for Zhuhai CosMX Battery (688772 SH) [1][17] Core Views - Consumer battery sales continue to grow, while power and energy storage battery business steadily reduces losses [1] - The company's consumer battery market share is steadily increasing, with laptop battery sales up 10 5% YoY and mobile phone battery sales up 13 1% YoY in H1 2024 [1][9] - The company plans to invest approximately 2 billion yuan to build a consumer battery base in Malaysia to better expand into international markets [1][9] - The power and energy storage battery business narrowed losses both YoY and QoQ, with Q2 2024 revenue exceeding 250 million yuan, up 120% QoQ [1][9] Financial Performance - H1 2024 revenue reached 5 347 billion yuan, down 2% YoY, with net profit attributable to shareholders of 102 million yuan, down 28% YoY [1][4] - Q2 2024 revenue was 2 798 billion yuan, down 10% YoY but up 10% QoQ, with net profit attributable to shareholders of 92 million yuan, down 67% YoY but up 818% QoQ [1][4] - Gross margin for H1 2024 was 24 39%, up 1 92 percentage points YoY, while Q2 2024 gross margin was 24 15%, down 1 24 percentage points YoY [1][4] Business Segments Consumer Battery Business - Estimated Q2 2024 consumer battery sales reached nearly 90 million units, flat YoY but up over 12% QoQ [1][9] - Net profit for consumer batteries in Q2 2024 was approximately 182 million yuan, down 52% YoY but up 30% QoQ, with a net profit margin of 7 1% [1][9] - The company is advancing its sixth-generation fast-charging lithium battery, high-energy-density steel-shell battery, and seventh-generation super-fast-charging lithium battery, all in trial production [9] Power and Energy Storage Battery Business - The company focuses on drone batteries and automotive low-voltage batteries, with management efficiency continuously improving [1][9] - In H1 2024, the company secured contracts with Stellantis, GM, and a leading German automaker, with mass production expected in the future [1][11] - The subsidiary Zhejiang CosMX achieved total revenue of 406 million yuan in H1 2024, with automotive low-voltage batteries and drone batteries accounting for over 69% of revenue [10] Industry Outlook - Consumer electronics demand is expected to enter a peak season in H2 2024, with new models of mobile phones and laptops set to be released, driving steady growth in battery shipments [1][9] - The company's capacity utilization rate is expected to steadily increase, and cost control measures are likely to continue improving profitability [1][9] Financial Forecasts - Revenue for 2024-2026 is projected to be 11 848 billion yuan, 14 110 billion yuan, and 16 966 billion yuan, with YoY growth of 4%, 19%, and 20% respectively [2][16] - Net profit attributable to shareholders for 2024-2026 is forecasted to be 456 million yuan, 846 million yuan, and 1 286 billion yuan, with YoY growth of 33%, 85%, and 52% respectively [1][16] - EPS for 2024-2026 is expected to be 0 40 yuan, 0 75 yuan, and 1 14 yuan, with dynamic PE ratios of 33x, 18x, and 12x respectively [1][17]