2024 年 4 月 24 日，公司使用 30,000 万元闲置募集资金购买了中国民生银 行股份有限公司苏州分行购买结构性理财产品（91 天），上述具体内容详见公 司 2024 年 4 月 25 日在巨潮资讯网（http://www.cninfo.com.cn）及《证券时报》 披露的 2024-024 号《关于使用部分闲置募集资金进行现金管理的进展公告》。 股票代码：002245 股票简称：蔚蓝锂芯 编号：2024-047 江苏蔚蓝锂芯股份有限公司 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。 江苏蔚蓝锂芯股份有限公司（以下简称"公司"）于 2023 年 8 月 11 日召开 第六届董事会第八次会议、第六届监事会第七次会议，2023 年 8 月 30 日召开 2023 年第一次临时股东大会，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 10 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 ...

请务必阅读正文之后的信息披露和法律声明 | --- | --- | |-----------------------------------------------------------------|------------------| | 股票数据 | | | 07 [ Table_StockInfo 月 24 日收盘价（元） ] | 8.14 | | 52 周股价波动（元） | 5.40-11.40 | | 总股本 / 流通 A 股（百万股） | 1152/1087 | | 总市值 / 流通市值（百万元） | 9378/8850 | | 相关研究 | | | [Table_ReportInfo] 《 24Q1 业绩持续修复，预计锂电池业务全年 | | | 实现量利齐升》 2024.05.31 | | | 《 23 年公司业绩承压， 24 | 年需求复苏带动公 | | 司利润回暖》 2024.04.09 | | 分析师:马天一 Tel:(021)23185735 Email:mty15264@haitong.com 证书:S0850523030004 分析师:吴杰 Tel:(021)23183818 E ...

Summary of Conference Call Transcript Company and Industry Overview - The conference call pertains to **Weilan Lithium** and its performance in the **lithium battery** and **LED** sectors. Key Financial Metrics - For the first half of 2024, the company's **operating revenue** reached **3.064 billion** (30.64亿), representing a **36.19%** year-over-year increase [1] - In Q2 2024, the operating revenue was **1.6356 billion** (16.356亿), showing a **14.44%** quarter-over-quarter growth [1] - The **net profit attributable to shareholders** for the first half was approximately **167 million** (1.67亿), a significant increase of **301.74%** compared to the same period last year [1] - In Q2, the net profit was **96.66 million** (9666万), reflecting a **36.78%** quarter-over-quarter increase [2] Segment Performance - **LED Segment**: - Q2 revenue was **402.33 million** (4.0233亿), a **15.55%** quarter-over-quarter increase, and half-year revenue was **750.51 million** (7.5051亿), up **78.71%** year-over-year [3] - Net profit for the LED segment in the first half was **30.35 million** (3035万) [4] - **Lithium Battery Segment**: - Half-year operating profit was **1.106 billion** (11.06亿), a **24.7%** increase year-over-year, with Q2 profit at **600.89 million** (6008.9万), up **22.49%** quarter-over-quarter [4] - Net profit for the lithium battery segment was **66.25 million** (6625万) in the first half [4] - **Metal Materials Segment**: - Half-year revenue was **1.15681 billion** (11.5681亿), a **13.76%** increase year-over-year, with Q2 revenue at **586.75 million** (5.8675亿), a slight increase of **2.93%** [4] - **Other Businesses**: - Revenue for other businesses was **51.48 million** (5148万), showing a notable increase year-over-year [4] Gross Margin and Production Insights - The gross margin for the lithium battery segment improved to **15.13%** in the first half of 2024, with Q2 margin at **15.34%** [5] - Total battery shipments for the first half of 2024 were **175 million** (1.75亿), with Q2 shipments close to **100 million** (1亿) [6] - The average profit per battery unit was approximately **0.4** (四毛) in the first half [7] Capacity and Utilization - Current production capacity is **50 million** (5000万) units, with a target to reach **70 million** (7000万) units by the end of the year [8] - The company anticipates a reduction in unit costs by **0.3** (三毛) for every **30-40 million** (三亿到四亿) units produced [8] Market Trends and Customer Dynamics - The company expects a significant increase in overseas sales, particularly in the electric tools sector, during the second half of the year [10][11] - The sales structure is shifting, with a focus on outdoor garden tools and electric tools, which are expected to see increased demand [10][11] - The company is actively monitoring price adjustments from competitors, particularly Samsung, which has initiated price increases [12][14] Inventory and Subsidies - The current inventory level is approximately **43 million** (4300万) units, which is below the normal inventory level [33] - Government subsidies for the LED and battery segments are expected to contribute around **30-40 million** (三四千万) annually [25][27] Future Outlook - The company aims to achieve a **50%** overseas customer order ratio by the end of the year, with confidence in meeting this target [32] - The expected gross margin in a stable supply-demand environment is projected to be between **20-25%**, with net margins between **10-15%** [46] Additional Insights - The company is expanding its production capabilities in Malaysia, which will enhance its ability to serve international customers and mitigate supply chain risks [22][49] - The focus remains on high-rate cylindrical battery products, with ongoing development in capacity-type batteries to meet market demands [39][41]

Investment Rating - The report maintains a "Hold" rating for the company [3][6]. Core Views - The company's lithium battery business showed strong growth in the first half of 2024, with revenue reaching approximately 1.106 billion, a year-on-year increase of 78.71% [2]. - The company aims to ship 1.5 billion units in the third quarter, indicating a steady increase in output [2]. - The overall revenue for the first half of 2024 was nearly 3.065 billion, representing a year-on-year growth of 36.19%, with a net profit of 167 million, up 301.74% year-on-year [3]. - The company is expected to achieve annual shipments between 400 million and 450 million units, as inventory levels normalize and demand from the power tool sales season increases [4]. - New application scenarios such as BBU modules, eVTOL, and AI robots are expected to support the expansion of the overall market capacity [5]. Financial Summary - The company achieved a revenue of approximately 3.065 billion in the first half of 2024, with a net profit of 167 million, reflecting a significant increase compared to the previous year [3]. - The second quarter of 2024 saw revenue of 1.636 billion, a quarter-on-quarter increase of 14.44%, with a net profit of 97 million, up 36.78% quarter-on-quarter [3]. - The forecast for net profit from 2024 to 2026 is 442 million, 554 million, and 680 million respectively, indicating a strong recovery trajectory [6]. - The company’s revenue is projected to grow from 5.221 billion in 2024 to 9.728 billion in 2026, with corresponding net profits increasing significantly [7]. Market Outlook - The company is expanding its overseas production capabilities, particularly in Malaysia, to cater to sensitive overseas clients and the Southeast Asian electric motorcycle market [19]. - The LED and metal logistics businesses are also performing well, with LED revenue reaching approximately 751 million in the first half of 2024, a year-on-year increase of 24.7% [19].

Company and Industry Summary Company Overview - The company reported a total revenue of 3.064 billion, reflecting a year-over-year growth of 36.19% [1] Key Points - The half-year results for 2024 indicate a significant increase in revenue compared to the previous year, showcasing strong operational performance [1] Additional Important Information - The growth percentage highlights the company's robust market position and potential for future expansion [1]

Investment Rating - The report maintains a "Recommended" rating for the company with a target price of 8.06 yuan [3]. Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2024, with revenue reaching 1.67 billion yuan, up 36.19% year-on-year, and net profit of 124 million yuan, up 260.10% year-on-year [3]. - The lithium battery business experienced substantial growth, with revenue of 1.11 billion yuan, an increase of 15.13% year-on-year, driven by recovering downstream procurement and increased order volume [3]. - The LED business also showed strong performance, with revenue of 751 million yuan, up 24.70% year-on-year, benefiting from successful entry into major global customer supply chains [3]. - The metal logistics distribution business maintained a leading position, with revenue of 1.16 billion yuan, up 13.76% year-on-year, indicating a stable operational status [3]. Financial Performance Summary - Total revenue for 2023 is projected at 5,222 million yuan, with a growth rate of -16.9%. For 2024, revenue is expected to reach 6,741 million yuan, growing by 29.1% [4][10]. - The net profit attributable to shareholders is forecasted to be 141 million yuan in 2023, increasing to 429 million yuan in 2024, reflecting a growth rate of 204.9% [4][10]. - The company's gross profit margin is expected to improve from 12.80% in 2023 to 15.95% in 2024 [4][10]. Earnings Forecast - The company is expected to achieve revenues of 8,190 million yuan in 2025 and 9,544 million yuan in 2026, with corresponding net profits of 569 million yuan and 641 million yuan respectively [4][10]. - The projected PE ratios for 2024, 2025, and 2026 are 22, 16, and 14 respectively, indicating a favorable valuation trend [4][10].

Group 1: Financial Performance - In the first half of 2024, the company achieved total revenue of 306,481.60 thousand yuan, a year-on-year increase of 36.19% [1] - The net profit attributable to shareholders was 16,732.41 thousand yuan, reflecting a significant year-on-year growth of 301.74% [2] - In Q2 2024, revenue reached 1.636 billion yuan, with a quarter-on-quarter increase of 14.44% [2] - The net profit for Q2 was 9,666 thousand yuan, up 36.78% from Q1 [2] Group 2: Business Segments - The metal logistics segment showed steady growth with a year-on-year increase of 13.76% [2] - The LED business performed well, with Q2 revenue of approximately 402 million yuan, representing year-on-year and quarter-on-quarter growth of 78.51% and 15.55%, respectively [2] - The lithium battery segment generated approximately 609 million yuan in Q2, with a quarter-on-quarter increase of about 22.49% [2] Group 3: Production and Capacity - In the first half of 2024, lithium battery sales reached approximately 175 million units, with nearly 100 million units sold in Q2 [3] - The company plans to increase production capacity to around 70 million units by August and September 2024 [3] - Current inventory of lithium batteries is approximately 43 million units, which is considered low based on historical sales data [4] Group 4: Market and Strategic Insights - The company is actively monitoring price adjustments from overseas competitors, which have been generally accepted by international customers [3] - The Malaysian factory is expected to cover three application scenarios: power tools, electric motorcycles, and consumer energy storage products [4] - The company is positioned to benefit from the global supply chain shifts and trade policy changes, enhancing its competitive edge [4]

Investment Rating - The report maintains a "Buy" rating for the company [9] Core Insights - The company's H1 2024 revenue reached 3.06 billion yuan, a year-on-year increase of 36%, with a net profit attributable to shareholders of 167 million yuan, up 301% [19] - The Q2 2024 revenue was 1.64 billion yuan, a 30% increase year-on-year, with a net profit of 97 million yuan, up 78% [19] - The company has shown strong performance in metal logistics and LED business, with significant revenue growth and profitability [2][19] Financial Performance Summary - H1 2024 revenue from metal logistics was 1.16 billion yuan, up 14% year-on-year, contributing a profit of 75 million yuan [2] - H1 2024 revenue from LED business was 750 million yuan, a 79% increase year-on-year, contributing a profit of 30 million yuan [2] - The company expects to achieve a profit contribution of over 150 million yuan from metal logistics for the full year [2] - The lithium battery segment reported H1 revenue of 1.11 billion yuan, a 25% increase year-on-year, with a total shipment of 175 million units [8] Earnings Forecast and Valuation - The report revises the net profit forecast for 2024-2026 to 390 million, 480 million, and 560 million yuan respectively, reflecting year-on-year growth of 180%, 22%, and 17% [9] - The corresponding P/E ratios are projected to be 23x, 19x, and 16x for the years 2024, 2025, and 2026 [9]

股票代码：002245 股票简称：蔚蓝锂芯 编号：2024-045 江苏蔚蓝锂芯股份有限公司 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，会议审议通过了《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，授权期限自股东大会审议通过之日起一年内有效， 具体情况公告如下： 一、募集资金的基本情况 经中国证券监督管理委员会《关于核准江苏蔚蓝锂芯股份有限公司非公开发 行股票的批复》（证监许可〔2022〕394 号）批准，公司向特定对象非公开发行 人民币普通股（A 股）股票 116,225,011 股，每股面值 1 元，每股发行价格为人 民币 21.51 元，募集资金总额 2,499,999 ...

Financial Performance - The company's operating revenue for the reporting period reached ¥3,064,816,004.66, representing a 36.19% increase compared to the same period last year[6]. - Net profit attributable to shareholders was ¥167,324,134.78, a significant increase of 301.74% year-on-year[6]. - The net profit after deducting non-recurring gains and losses was ¥124,196,121.95, reflecting a 260.10% increase compared to the previous year[6]. - The net cash flow from operating activities was ¥400,291,952.57, which is a remarkable increase of 476.24% year-on-year[6]. - The company reported a significant improvement in basic and diluted earnings per share, both reaching ¥0.1452, up 301.10% from the previous year[6]. - The weighted average return on equity increased to 2.56%, up from 0.65% in the previous year, indicating improved profitability[6]. - Operating profit reached 218.51 million yuan, reflecting a significant year-on-year growth of 512.30%[49]. - Net profit amounted to 195.95 million yuan, representing a year-on-year increase of 219.08%[49]. - The total comprehensive income for the first half of 2024 was ¥190,849,316.06, compared to ¥61,409,714.90 in the previous year, marking an increase of about 210%[135]. Revenue Breakdown - The lithium battery business generated approximately 1.11 billion in revenue, reflecting a significant year-on-year growth of 78.71%[61]. - The LED business generated approximately 751 million yuan in revenue, a growth of about 24.70% compared to the same period last year[53]. - Revenue from the lithium battery sector reached CNY 1,106,006,206.04, a significant increase of 78.71% compared to the previous year[83]. - The LED industry generated revenue of CNY 750,516,832.01, reflecting a growth of 24.70% year-on-year[83]. - The metal logistics sector contributed CNY 1,156,810,132.88 in revenue, with a year-on-year increase of 13.76%[83]. - Domestic sales accounted for 89.43% of total revenue, while overseas sales represented 10.57%, with overseas sales increasing by 90.32% year-on-year[83]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥10,382,893,427.10, a decrease of 5.70% from the end of the previous year[6]. - The net assets attributable to shareholders increased to ¥6,596,323,036.62, marking a 2.25% rise compared to the previous year[6]. - Total liabilities decreased to CNY 3,476,348,106.23 from CNY 4,227,023,236.87, a decrease of approximately 17.7%[123]. - The company's total equity increased to CNY 6,906,545,320.87 from CNY 6,783,618,001.23, an increase of about 1.8%[123]. Investment and R&D - The company continues to enhance its R&D capabilities, focusing on high-rate small power lithium batteries and solid-state battery technologies[9]. - The company is actively focusing on high-end product development and expanding overseas production capacity to enhance service quality for international clients[93]. - The company plans to continue its investment in research and development to maintain technological and product advancement in a competitive market[96]. - The company's investment amount for the reporting period reached ¥309,722,632.36, a significant increase of 182.74% compared to ¥109,542,303.75 in the same period last year[88]. Market Expansion - The company is actively expanding its market presence in emerging applications such as BBU backup power and AI robotics[10]. - The company is actively expanding its global marketing network, with new offices established in Taiwan, Malaysia, and India, and sales institutions in the US and Europe under development[50]. - The company plans to continue its global expansion strategy, leveraging its technological advancements and product advantages to penetrate new markets[60]. Financial Management - The financial expenses decreased by 12.13%, amounting to approximately 12.01 million, indicating improved financial management[54]. - The company reported a significant reduction in financial expenses, reporting a net financial cost of -¥1,966,812.57 compared to -¥19,760,996.86 in the previous year[140]. - The company has identified risks related to macroeconomic uncertainties and market competition, which could adversely affect operations if not managed properly[96]. Shareholder Returns - The company does not plan to distribute cash dividends or issue bonus shares[38]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[113]. Operational Efficiency - The company has committed to a "Quality Return Dual Improvement" action plan to enhance operational efficiency and product quality[110]. - The company reported a total operating cost of ¥2,604,250,860.00 against the total revenue, indicating a gross profit margin of approximately 15%[175].