深圳市英威腾电气股份有限公司公告(2024) 证券代码：002334 证券简称：英威腾 公告编号：2024-015 深圳市英威腾电气股份有限公司 （1）回购股份的方式及种类：通过深圳证券交易所交易系统以集中竞价交 易方式回购公司发行的人民币普通股（A 股）股票。 （2）回购股份的用途：用于实施股权激励或员工持股计划。 （3）用于回购的资金总额及资金来源：不低于人民币 6,000 万元（含）， 不超过人民币 10,000 万元（含）；具体回购资金以实际使用的资金总额为准， 资金来源于公司自有资金。 （4）回购股份的价格区间：不超过人民币 8 元/股（含），回购价格未超过 公司董事会通过回购股份决议前 30 个交易日公司股票交易均价的 150%。 （5）回购股份的数量及占公司总股本的比例：按照回购资金总额不低于人 民币 6,000 万元（含）且不超过人民币 10,000 万元（含），回购价格上限人民 币 8 元/股（含）测算，预计回购股份数量不低于 750 万股且不超过 1,250 万股， 约占公司总股本的 0.93%—1.55%。具体回购股份数量以回购期限届满或回购股 份实施完毕时实际回购的股份数量为准。 （6 ...

深圳市英威腾电气股份有限公司公告(2024) 证券代码：002334 证券简称：英威腾 公告编号：2024-012 深圳市英威腾电气股份有限公司 2.1 回购股份的目的 基于对公司未来发展前景的信心和对公司价值的认可，为进一步健全公司长 效激励机制，充分调动公司核心骨干及优秀员工的积极性，有效地将股东利益、 公司利益和核心团队个人利益结合在一起，共同促进公司的长远发展，公司在考 虑业务发展前景、财务状况、未来盈利能力及近期公司股票二级市场表现的基础 上，拟以自有资金回购部分公司股份，用于实施股权激励或员工持股计划。 表决情况：同意 9 票，反对 0 票，弃权 0 票 第六届董事会第三十一次会议决议公告 公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 深圳市英威腾电气股份有限公司（以下简称"公司"）第六届董事会第三十一 次会议通知及会议资料已于 2024 年 4 月 3 日向全体董事发出。会议于 2024 年 4 月 17 日（星期三）上午 10:00 在广东省深圳市光明区马田街道松白路英威腾 光明科技大厦 A 座 8 楼会议室以现场方式召开，由董事长黄申力先生召 ...

深圳市英威腾电气股份有限公司公告(2024) 证券代码：002334 证券简称：英威腾 公告编号：2024-013 深圳市英威腾电气股份有限公司 第六届监事会第十九次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳市英威腾电气股份有限公司（以下简称"公司"）第六届监事会第十九次 会议通知及会议资料已于 2024 年 4 月 3 日向全体监事发出。会议于 2024 年 4 月 17 日（星期三）上午 11:00 在广东省深圳市光明区马田街道松白路英威腾光 明科技大厦 A 座 8 楼会议室以现场方式召开，由监事会主席董瑞勇先生召集并 主持。本次会议应出席监事 3 人，亲自出席会议的监事 3 人，无缺席监事。会议 的召集、召开符合有关法律、行政法规、部门规章、规范性文件和公司章程的规 定。 一、以3票同意、0票反对、0票弃权的表决结果审议通过了《2024年第一季 度报告的议案》 经审核，监事会认为：经审核，监事会认为董事会编制和审议公司 2024 年 第一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、完整地反映了上市公司 ...

深圳市英威腾电气股份有限公司 2024 年第一季度报告 证券代码：002334 证券简称：英威腾 公告编号：2024-014 深圳市英威腾电气股份有限公司 2024 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述 或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准 确、完整。 3.第一季度报告是否经审计 □是 否 一、主要财务数据 （一）主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减（%） | | --- | --- | --- | --- | | 营业收入（元） | 949,105,798.10 | 1,013,004,802.29 | -6.31% | | 归属于上市公司股东的净利润（元） | 47,222,379.30 | 95,344,1 ...

英威腾（002334.SZ） | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------|-------|-------|-------|-------|-----------------------------------------|------------------| | 财务指标 | 2022A | 2023A | 2024E | 2025E | 2026E | 买入（维持评级） | | | 营业收入（百万元） | 4,097 | 4,590 | 5,769 | 7,359 | 9,431 | | | | 增长率 yoy （ % ） | 36.2 | 12.0 | 25.7 | 27.6 | 28.1 | 股票信息 | | | 归母净利润（百万元） | 275 | 371 | 462 | 579 | 718 | 行业 | 电力设备及新能源 | | 增长率 yoy （ % ） | 50.8 | 35.1 | 24.4 | 25.4 | 23.9 | 202 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) with a current price of 7.77 CNY and a target price not specified for the next 6 months [1]. Core Insights - The company's 2023 performance met expectations, with overseas revenue growing by 30% year-on-year [1]. - The gross profit margin for 2023 was 31.51%, an increase of 1.40 percentage points year-on-year [2]. - The company is expected to maintain a compound annual growth rate (CAGR) of 22% in net profit over the next three years [36]. Summary by Sections Financial Performance - In 2023, the company achieved a revenue of 4.59 billion CNY, a year-on-year increase of 12.03%, and a net profit attributable to the parent company of 371 million CNY, up 35.06% year-on-year [35]. - The revenue breakdown for 2023 includes: - Industrial Automation: 2.54 billion CNY, +10.70% YoY - Network Energy: 825 million CNY, +13.17% YoY - Photovoltaic Energy Storage: 304 million CNY, +12.28% YoY - New Energy Vehicles: 701 million CNY, +15.40% YoY [20]. Business Segments - **Industrial Automation**: The company is integrating its operations and expects order growth rates of 20%, 15%, and 15% for 2024-2026, with gross margins projected at 38.0%, 38.5%, and 39.0% respectively [6]. - **New Energy Vehicles**: The business is expanding its product offerings and anticipates order growth rates of 20%, 20%, and 15% for 2024-2026, with gross margins of 19.0%, 20.0%, and 20.0% [7]. - **Network Energy**: Driven by the digital economy, the segment expects order growth rates of 20%, 20%, and 15% for 2024-2026, with gross margins of 34.5%, 35.0%, and 35.0% [39]. - **Photovoltaic Energy Storage**: The segment is expected to see order growth of 5%, 20%, and 20% for 2024-2026, maintaining a gross margin of 20% [25]. Profitability and Forecasts - The net profit margin for 2023 was 7.15%, an increase of 0.79 percentage points year-on-year [2]. - Forecasts for 2024-2026 predict net profits of 453 million CNY, 559 million CNY, and 678 million CNY, with corresponding EPS of 0.56, 0.69, and 0.84 CNY [36]. - The company’s PE ratios for the next three years are projected to be 14, 11, and 9 [36].

2024 年 4 月 9 日 要点 盈利预测、估值与评级：考虑到光伏储能和新能源汽车行业的竞争加剧，我们下 调公司 2024-2025 年盈利预测，新增 2026 年盈利预测，预计公司 2024-2026 年实现归母净利润 4.99/5.80/6.46 亿元（下修 16%/下修 23%/新增），对应 PE 分别为 13/11/10 倍。公司工业自动化与网络能源业务稳步增长，光伏储能和新 能源汽车业务短期承压但前景可期，维持"买入"评级。 | --- | --- | --- | --- | |----------|-------|--------|--------| | | | | | | 收益表现 | | | | | % | 1M | 3M | 1Y | | 相对 | -1.96 | -12.10 | -17.70 | | 绝对 | -3.52 | -4.78 | -31.28 | 敬请参阅最后一页特别声明 -1- 证券研究报告 英威腾（002334.SZ） | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |- ...

Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.60 per 10 shares (including tax) to all shareholders[5]. - The board of directors has approved the profit distribution plan based on the total share capital on the equity distribution scheme's registration date[5]. - A total of 47 million RMB in cash dividends was distributed to shareholders in 2023, reflecting the company's commitment to shareholder returns[155]. Financial Performance - The company's operating revenue for 2023 reached ¥4,589,862,819.96, representing a 12.03% increase compared to ¥4,096,877,001.27 in 2022[21]. - Net profit attributable to shareholders for 2023 was ¥371,353,080.86, a 35.06% increase from ¥274,946,462.96 in 2022[21]. - The net profit after deducting non-recurring gains and losses was ¥312,441,316.24, up 22.42% from ¥255,225,991.79 in the previous year[21]. - The net cash flow from operating activities significantly increased by 157.35% to ¥608,362,640.72 from ¥236,393,777.66 in 2022[21]. - Basic earnings per share for 2023 were ¥0.4679, reflecting a 28.23% increase from ¥0.3649 in 2022[21]. - Total assets at the end of 2023 amounted to ¥5,186,289,498.49, a 6.13% increase from ¥4,886,734,533.26 at the end of 2022[21]. - The net assets attributable to shareholders increased by 15.92% to ¥2,647,382,498.32 from ¥2,283,712,544.23 in 2022[21]. - The company's total revenue for the reporting period reached 458,986.28 million yuan, a year-on-year increase of 12.03%[56]. - The net profit attributable to shareholders was 37,135.31 million yuan, reflecting a year-on-year growth of 35.06%[56]. - Overseas revenue amounted to 147,496.34 million yuan, up 30.65% year-on-year, accounting for 32.14% of total revenue[56]. Market and Industry Trends - The industrial automation market in China is projected to reach approximately $282.2 billion in 2023, with a year-on-year growth of 6.80%[32]. - The UPS market in China is expected to reach about $9.99 billion in 2023, showing a growth of 9.20% compared to the previous year[35]. - The precision air conditioning market in China is projected to be around $8.65 billion in 2023, with a year-on-year increase of 11.60%[35]. - In 2023, the production and sales of new energy vehicles in China reached 9.59 million and 9.49 million units, respectively, marking a year-on-year growth of 35.80% and 37.90%[38]. - The market share of new energy vehicles reached 31.60% in 2023, an increase of 5.90 percentage points compared to the previous year[38]. - The data center market in China is projected to reach approximately 247 billion yuan in 2023, driven by the ongoing digital transformation across industries[49]. Risk Management - The company faces risks including macroeconomic and policy risks, talent loss, raw material price fluctuations, and exchange rate risks[5]. - The annual report includes a section on risk management strategies to address potential challenges in the upcoming fiscal year[5]. - The company aims to mitigate adverse impacts from significant exchange rate fluctuations through its hedging activities[113]. - The company has established strict management systems for foreign exchange derivative trading to control operational risks[113]. Research and Development - The company is focused on optimizing its asset structure and has made progress in research and development, domestic substitution, and cost reduction[56]. - The company holds a total of 1,971 patents, with 186 new patents filed during the reporting period, indicating a strong focus on innovation[74]. - The company is investing in R&D for new technologies, with a budget allocation of 10 million RMB for the development of smart energy solutions[137]. - The company is investing heavily in R&D, allocating 10% of its revenue, approximately 150 million yuan, to develop new technologies[143]. Corporate Governance - The company emphasizes the importance of accurate and complete financial reporting, with key personnel affirming the report's integrity[4]. - All directors attended the board meeting to review the annual report, ensuring comprehensive oversight[5]. - The company has established a compliance management system, integrating compliance requirements into all business activities to mitigate operational risks[159]. - The internal control system was audited, confirming effective financial reporting controls without significant deficiencies as of December 31, 2023[160]. - The company has implemented a zero-tolerance policy towards fraud and corruption, establishing a robust anti-fraud mechanism[161]. Strategic Initiatives - The company is focusing on expanding its product offerings and technological advancements in the electrical equipment sector[12]. - The company is actively exploring business integration and optimizing energy solutions to reduce carbon emissions and improve energy efficiency[127]. - The company plans to strengthen its strategic management and optimize supply chain management to maintain steady growth in performance[128]. - The company is likely to leverage insights gained from these interactions to refine its business strategies and enhance shareholder value[141]. Investor Relations - The company conducted investor relations activities from January 4 to March 24, 2023, including site visits and phone communications with various institutional investors[136]. - The investor relations activities included on-site visits and phone communications, indicating a proactive approach to investor engagement[139]. - The ongoing investor relations efforts are expected to contribute positively to the company's market perception and investor confidence[140]. Employee and Management - The total number of employees at the end of the reporting period is 5,141, with 2,317 in the parent company and 2,824 in major subsidiaries[199]. - The company emphasizes a performance and responsibility-oriented compensation policy, aligning employee rewards with company performance[200]. - In 2023, the company reviewed its bonus policy across business units to align with strategic goals, implementing targeted and differentiated bonus extraction rules[200]. Future Outlook - Future outlook indicates a projected revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion strategies[137]. - The company provided a positive outlook for the next quarter, projecting a revenue increase of 10% to $1.32 billion[138]. - The company has set a performance guidance of 1.8 billion yuan for the next fiscal year, indicating a growth target of 20%[143].

深圳市英威腾电气股份有限公司 控股股东及其他关联方资金占用情况的 专项说明 北京大华核字[2024]00000018 号 北京大华国际会计师事务所 (特 殊 普 通 合 伙 ) Beijing Dahua International Certified Public Accountants (Special General Partnership) 深圳市英威腾电气股份有限公司 控股股东及其他关联方资金占用情况的专项说明 （截止 2023 年 12 月 31 日） 目 录 页 次 一、 控股股东及其他关联方资金占用情况的专项 说明 1-2 二、 深圳市英威腾电气股份有限公司 2023 年度非 经营性资金占用及其他关联资金往来情况汇 总表 3-4 北京大华国际会计师事务所(特殊普通合伙) 北京市西城区阜成门外大街 31号五层 519A [100071] 电话：86 (10) 6827 8880 传真：86 (10) 6823 8100 控 股 股 东 及 其 他 关 联 方 资 金 占 用 情 况 的 专 项 说 明 北京大华核字[2024] 00000018 号 深圳市英威腾电气股份有限公司全体股东： 我们接 ...

深圳市英威腾电气股份有限公司 审计报告 北京大华审字[2024]00000200 号 北 京 大 华 国 际 会计师事务所 (特 殊 普 通 合 伙 ) Beijing Dahua International Certified Public Accountants（Special General Partnership） 深圳市英威腾电气股份有限公司 审计报告及财务报表 （2023 年 1 月 1 日至 2023 年 12 月 31 日止） | | 目 | 录 | 页 次 | | --- | --- | --- | --- | | 一 | 审计报告 | | 1-7 | | 二 | 已审财务报表 | | | | | 合并资产负债表 | | 1-2 | | | 合并利润表 | | 3 | | | 合并现金流量表 | | 4 | | | 合并股东权益变动表 | | 5-6 | | | 母公司资产负债表 | | 7-8 | | | 母公司利润表 | | 9 | | | 母公司现金流量表 | | 10 | | | 母公司股东权益变动表 | | 11-12 | | | 财务报表附注 | | 1-125 | 北京大华国际 ...