Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 9.96 yuan as of November 18, 2024 [1][2] Core Views - The company's lithium battery business faced pressure in 2023, but new business segments are expected to drive performance improvement [1] - The company's 2024 Q3 results met expectations, with revenue and gross margin showing continuous recovery [7] - The company's LED and metal businesses contributed positively to Q3 performance, with LED business generating 48 million yuan in net profit [4] - The lithium battery business saw a decline in Q3 net profit due to increased R&D expenses, which reached 85 million yuan [4] Financial Performance - The company's 2024 Q3 revenue reached 1.77 billion yuan, up 22.7% YoY and 8.4% QoQ [6] - Net profit attributable to shareholders in Q3 was 115 million yuan, up 86.2% YoY and 18.5% QoQ [6] - Gross margin in Q3 was 18.9%, up 7.4 percentage points YoY and 3.3 percentage points QoQ [6] - The company's 2024 Q3 R&D expense ratio was 7.5%, up 1.7 percentage points YoY [6] Business Segments - In 2024 Q3, the LED business revenue was approximately 450 million yuan, with a gross margin of 22.5% [4] - The lithium battery business revenue in Q3 was approximately 665 million yuan, with a gross margin of 19.76% [4] - The metal business revenue in Q3 was approximately 620 million yuan [4] Future Projections - The report forecasts the company's net profit attributable to shareholders to reach 434 million yuan in 2024, 590 million yuan in 2025, and 689 million yuan in 2026 [7] - The company's EPS is expected to be 0.38 yuan in 2024, 0.51 yuan in 2025, and 0.60 yuan in 2026 [7] - The company's ROE is projected to increase from 6.3% in 2024 to 8.6% in 2026 [9] Valuation - As of November 18, 2024, the company's PE ratio is 26.5x for 2024, 19.5x for 2025, and 16.7x for 2026 [7] - The company's PB ratio is 1.8x for 2023, 1.7x for 2024, 1.5x for 2025, and 1.4x for 2026 [9]

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特此公告！ 股票代码：002245 股票简称：蔚蓝锂芯 编号：2024-069 江苏蔚蓝锂芯集团股份有限公司董事会 江苏蔚蓝锂芯集团股份有限公司 二○二四年十一月二十二日 关于公司网站域名变更的公告 江苏蔚蓝锂芯集团股份有限公司（以下简称"公司"）于近日对官方网站进 行了全面升级改版，以便更准确地反映公司发展战略和业务经营情况，增强广大 投资者对公司的认知程度，提升公司的整体品牌形象。同时，为了使网站更好地 匹配公司名称，公司启用了新的网站域名，具体变更情况如下： | 变更事项 | 变更前 | 变更后 | | --- | --- | --- | | 公司网站 | http://www.aucksun.com | https://www.azurecorp.com | | | 除上述变更外，公司通讯地址、电话、传真等其他联系方式均保持不变，敬 | | 请广大投资者留意，由此带来的不便，敬请谅解。 ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 股票代码：002245 股票简称：蔚蓝锂芯 编号：2024-068 江苏蔚蓝锂芯集团股份有限公司（以下简称"公司"）于 2024 年 7 月 19 日召开第六届董事会第十六次会议、第六届监事会第十四次会议，2024 年 8 月 8 日召开 2024 年第二次临时股东大会，审议通过了《关于使用部分闲置募集资金 进行现金管理的议案》，同意公司（含子公司）在不影响募集资金投资项目建设 和正常生产经营的前提下，使用不超过人民币 8 亿元的闲置募集资金进行现金管 理，投资安全性高、流动性好的保本型投资产品，在上述额度内可循环使用，并 授权公司管理层负责办理相关事宜。上述具体内容详见公司在巨潮资讯网 （http://www.cninfo.com.cn）及《证券时报》披露的 2024-045 号《关于使用 部分闲置募集资金进行现金管理的公告》。 江苏蔚蓝锂芯集团股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 尽管对闲置募集资金进行现金管理时选择的对象是低风险的投资产品，但金 融市场受宏观经济的影响较大，不排除该项 ...

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [1] Core Views - The company's performance in the first three quarters of 2024 has shown significant improvement, with revenue reaching 4.838 billion yuan, a year-on-year increase of 30.92%, and a net profit attributable to shareholders of 282 million yuan, up 173.21% year-on-year [4] - The lithium battery business continues to grow, with Q3 revenue of 666.5 million yuan and a projected total shipment of over 430 million units for the year [6] - The company is expected to maintain a positive outlook for its performance, with projected net profits of 410 million yuan, 620 million yuan, and 756 million yuan for 2024, 2025, and 2026 respectively [6] Summary by Sections Financial Performance - In Q3 2024, the company achieved revenue of 1.774 billion yuan, a year-on-year increase of 22.72% and a quarter-on-quarter increase of 8.44% [4] - The gross profit margin for Q3 was 18.95%, up 7.35 percentage points year-on-year, while the net profit margin was 6.46%, an increase of 2.20 percentage points year-on-year [4] Business Segments - The revenue from the lithium battery, LED, and metal logistics segments all showed quarter-on-quarter growth, with Q3 revenues of approximately 665 million yuan from lithium batteries, 450 million yuan from LEDs, and 620 million yuan from metals [5] - The LED segment performed particularly well, contributing approximately 48 million yuan to net profit in Q3 [5] Shipment and Capacity - The company shipped 118 million lithium batteries in Q3 2024, with expectations to exceed 430 million units for the entire year [6] - Domestic production capacity is projected to reach 600 million units by 2025, with additional capacity in Malaysia under construction [6] Profit Forecast and Valuation - The company is expected to achieve net profits of 4.10 billion yuan, 6.20 billion yuan, and 7.56 billion yuan from 2024 to 2026 [6] - The valuation is set at a price-to-earnings ratio of 30-35 times for 2024, corresponding to a reasonable value range of 10.68 to 12.45 yuan per share [6]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The Q3 performance met market expectations, with revenue of 4.8 billion yuan for the first three quarters of 2024, a year-on-year increase of 31%, and a net profit attributable to shareholders of 280 million yuan, up 173% year-on-year [2] - The gross margin for Q3 was 16.5%, an increase of 3.9 percentage points year-on-year, with a net profit margin of 5.8%, up 3.0 percentage points year-on-year [2] - The company expects continued strong demand in downstream markets, leading to upward revisions in net profit forecasts for 2024-2026 [4] Summary by Sections Financial Performance - Total revenue for 2022 was 6.285 billion yuan, with a decline of 5.92% year-on-year, while 2023 revenue is projected at 5.222 billion yuan, down 16.92% year-on-year [1] - The net profit attributable to shareholders for 2022 was 378.34 million yuan, a decrease of 43.54% year-on-year, with 2023 projected at 140.82 million yuan, down 62.78% year-on-year [1] - The latest diluted EPS for 2023 is 0.12 yuan per share, with a P/E ratio of 75.02 [1] Q3 Performance Highlights - Q3 revenue reached 1.8 billion yuan, with a quarter-on-quarter increase of 23% and a year-on-year increase of 8% [2] - The gross margin for Q3 was 18.9%, reflecting a quarter-on-quarter increase of 7.4 percentage points [2] - The company shipped 118 million units in Q3, an 18% increase quarter-on-quarter, with expectations to ship 138 million units in Q4 [2] Business Segments - The lithium battery segment generated 670 million yuan in revenue for Q3, with a gross margin of 19.8%, up 4.6 percentage points from H1 [3] - The LED business reported Q3 revenue of 450 million yuan, with a gross margin of 22.5%, an increase of 6.6 percentage points from H1 [3] - The metal logistics segment maintained stable performance with Q3 revenue of 620 million yuan [3] Future Outlook - The company has revised its net profit forecasts for 2024-2026 to 399 million yuan, 599 million yuan, and 686 million yuan respectively, reflecting year-on-year growth of 183%, 50%, and 14% [4] - The projected P/E ratios for 2024, 2025, and 2026 are 26x, 18x, and 15x respectively [4]

股票代码：002245 股票简称：蔚蓝锂芯 编号：2024-067 江苏蔚蓝锂芯集团股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 江苏蔚蓝锂芯集团股份有限公司（以下简称"公司"）于 2024 年 7 月 19 日召开第六届董事会第十六次会议、第六届监事会第十四次会议，2024 年 8 月 8 日召开 2024 年第二次临时股东大会，审议通过了《关于使用部分闲置募集资金 进行现金管理的议案》，同意公司（含子公司）在不影响募集资金投资项目建设 和正常生产经营的前提下，使用不超过人民币 8 亿元的闲置募集资金进行现金管 理，投资安全性高、流动性好的保本型投资产品，在上述额度内可循环使用，并 授权公司管理层负责办理相关事宜。上述具体内容详见公司在巨潮资讯网 （http://www.cninfo.com.cn）及《证券时报》披露的 2024-045 号《关于使用 部分闲置募集资金进行现金管理的公告》。 根据上述决议授权，公司就近日使用募集资金进行现金管理事宜公告如下： 3、募集期开始日：2024 年 10 ...

从7亿颗的量来说的话基本上我们现在大概有一半的量今年跟客户之间已经形成了这种相当于框架型的这种指引他们也会用这种招标的方式然后把主要的供应商的大概的量分配完成当然这个分配的只是一个大的框架 在具体订单的时候可能还有一些变化这里我的七亿颗基本上有一半的量已经通过这种框架性的指引已经锁定了对那么明年的会不会会突破这个七亿颗的这样的一个这样那个出货的数量可能要动态的去观察目前我们觉得这个七亿颗的这样的一个量还是还是偏中性一些对第一 再回答苏老师的第一个问题就是整个的产能现在的话我的第二工厂的塑胶线已经进入到开始拆除开始往海外去移的这样的一个过程当中了那我现在的整个的产能其实就第二工厂还有塑胶线第三工厂第三工厂有塑胶线那这样子的话差不多有个 有个八条线能够持续的增强这个八条线大概能够带来的产能呢全年的产能大概就是六亿多棵 对这个是回答宋老师的第一个问题来 宋老师那个房总 我再问一下这个六亿多棵是指到年底如果完成明年可以净增加全年贡献六亿棵是这么理解的 对吗 不是竞争家对 就是我目前可以连续生产的产能我们马来西亚的产能的话大概三月份开始可以四产能形成产能大概在二十几度里面那个部分的话会有 会有五条线大概会有接近四亿颗的 ...

证券代码：002245 证券简称：蔚蓝锂芯 编号：2024-Q4-01 | --- | --- | --- | |-----------------------|-----------------------------------------------------------|--------------------------------------------------------------------------------| | | | | | 投资者关系活动 | □ 特定对象调研 | 分析师会议 | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | ☑ 其他 电话会议 | | | 参与单位名称及 | 天风证券 孙潇雅；财通证券 | 韩家宝；天风证券 薛舟； | | 人员姓名 | 海通证券 马天一；华福证券 | 游宝来；中信证券 汪浩； | | | 国金证券 陆文杰；西部证券 | 侯立森；中金公司 王颖东等券 | | | 商分析师 50 人，公募基金 4 人，银行及银行理财机构 | 10 人，私募基金 36 ...

舆情管理制度 第一章 总则 第一条 为了提高江苏蔚蓝锂芯集团股份有限公司（以下简称"公司"）应对 各类舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情对公 司股价、公司商业信誉及正常生产经营活动造成的影响，切实保护投资者合法权益， 根据《深圳证券交易所股票上市规则》（以下简称"《股票上市规则》"）等法律、法规及规 范性文件的有关规定和《公司章程》，结合公司实际情况，制定本制度。 江苏蔚蓝锂芯集团股份有限公司 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； （三）可能或者已影响社会公众投资者投资取向，造成股价异常波动的信息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易价格产生较大 影响的事件信息。 第三条 公司舆情应对坚持"科学应对、突出导向、注重实效"的总体原则，有 效引导内部舆论和社会舆论，避免和消除因媒体可能对公司造成的各种负面影响， 切实维护公司的利益和形象。 第二章 舆情管理的组织体系及其工作职责 第四条 公司舆情管理实行统一领导、统一组织、快速反应、协同应对的工 作机制。 第五条 ...

Financial Performance - The company's operating revenue for Q3 2024 reached ¥1,773,636,175.99, representing a 22.72% increase year-over-year[2] - Net profit attributable to shareholders for Q3 2024 was ¥114,535,493.74, an increase of 86.19% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥108,693,307.20, reflecting a significant increase of 175.19% year-over-year[2] - For the first nine months of 2024, the company's operating revenue increased by ¥1,142,743,700, or 30.92%, driven by sales growth across major business segments[5] - The company experienced a 173.21% increase in net profit attributable to shareholders for the first nine months of 2024, amounting to ¥281,859,628.52[5] - The net profit for the third quarter of 2024 was CNY 328,308,731.70, a significant increase from CNY 139,613,256.24 in the same period last year, representing a growth of approximately 134%[12] - Total comprehensive income for the third quarter reached CNY 346,202,429.06, compared to CNY 139,613,256.24 in the previous year, indicating a growth of approximately 148%[13] - Basic and diluted earnings per share were both CNY 0.2447, compared to CNY 0.0895 in the same quarter last year, marking an increase of approximately 174%[13] Cash Flow and Assets - The net cash flow from operating activities for the first nine months of 2024 increased by ¥271,807,600, a growth of 138.66% compared to the previous year[6] - The company's cash and cash equivalents decreased to ¥481,031,109.67 from ¥664,724,478.74 at the beginning of the period, a decline of approximately 27.5%[9] - The net cash flow from operating activities for Q3 2024 was ¥467,838,606.32, an increase from ¥196,031,044.71 in Q3 2023, representing a growth of approximately 138.0%[15] - The cash and cash equivalents at the end of Q3 2024 stood at ¥277,269,926.41, down from ¥551,215,445.75 at the end of Q3 2023, a decrease of about 49.7%[15] - The total cash outflow from operating activities amounted to ¥3,326,934,885.71, compared to ¥3,665,507,445.91 in the previous year, indicating a decrease of about 9.2%[15] Investments and Expenses - Research and development expenses for the first nine months of 2024 rose by ¥97,091,500, a 44.76% increase year-over-year, indicating a focus on innovation[5] - The company reported a significant increase in long-term equity investments, which rose by ¥9,598,700, a growth of 1985.22% year-over-year, indicating strategic investments in subsidiaries[5] - Research and development expenses increased to CNY 313,989,281.83, up from CNY 216,897,804.25, reflecting a year-over-year increase of about 45%[12] - Other income increased significantly to CNY 86,111,079.86 from CNY 36,987,821.86, reflecting a growth of about 132%[12] - The company reported a decrease in sales expenses to CNY 40,569,915.92 from CNY 29,105,548.87, which is an increase of approximately 39%[12] - The financial expenses decreased slightly to CNY 22,340,988.90 from CNY 24,099,952.63, a reduction of about 7%[12] Shareholder Information - The total number of common shareholders at the end of the reporting period is 141,779[7] - The largest shareholder, Greenway Limited, holds 12.82% of shares, totaling 147,725,928 shares[7] - The top ten shareholders include two foreign entities, with Changzheng Limited holding 6.05% of shares[7] - The total number of preferred shareholders is zero, indicating no preferred shares outstanding[9] - The company has not disclosed any changes in the relationships among the top ten shareholders[8] Liabilities and Equity - The total assets at the end of Q3 2024 were ¥10,712,568,503.08, a decrease of 2.71% from the end of the previous year[2] - Current liabilities totaled CNY 3,222,042,237.99, down from CNY 3,658,222,740.28, representing a decrease of 12.0%[11] - The company's long-term borrowings decreased to CNY 137,105,444.45 from CNY 339,355,819.40, a reduction of 59.6%[11] - The total equity attributable to shareholders increased to CNY 6,735,166,981.68 from CNY 6,451,376,937.55, reflecting an increase of 4.4%[11] Strategic Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[11] - The company has not reported any significant new strategies or product developments in the current quarter[9] Audit and Reporting - The company did not undergo an audit for the Q3 2024 report[16] - The report was issued by the board of directors, chaired by Chen Kai, on October 28, 2024[16]