Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [2][5]. Core Insights - The company has shown strong revenue growth, with a 28.30% year-on-year increase in revenue for the first three quarters of 2024, amounting to 7.04 billion yuan, and a net profit of 355 million yuan, reflecting a 6.29% increase [2][3]. - The controller business segment continues to perform well, with Q3 2024 revenue reaching 2.471 billion yuan, a 30.83% year-on-year increase, driven by customer expansion and product innovation [3][4]. - The company's net profit margin has significantly improved on a quarter-on-quarter basis, with Q3 2024 net margin at 6.01%, up 2.44 percentage points from the previous quarter [4]. Financial Performance Summary - For 2024, the company is projected to achieve a net profit of 512 million yuan, representing a 54.47% increase year-on-year, with further growth expected in subsequent years [5][7]. - The company's revenue is forecasted to grow from 9.56 billion yuan in 2024 to 14.98 billion yuan in 2026, with corresponding growth rates of 27.34% and 23.87% [7][9]. - The projected earnings per share (EPS) are expected to rise from 0.55 yuan in 2024 to 0.98 yuan in 2026, indicating a positive trend in profitability [7][9].

Group 1: Company Performance Overview - In the first three quarters of 2024, the company achieved operating revenue of 7.04 billion CNY, a year-on-year increase of 28.30% [2] - The net profit attributable to shareholders was 355 million CNY, reflecting a growth of 6.29% [2] - The net profit after deducting non-recurring gains and losses was 334 million CNY, up by 7.21% [2] Group 2: Business Segment Performance - The controller business segment generated operating revenue of 2.443 billion CNY, with a year-on-year growth of 29.70% [2] - The net profit from the controller segment was 370 million CNY, an increase of 19.56% [2] - The gross profit margin for all business segments improved, with the overall gross margin recovering to over 19% in the third quarter [2] Group 3: Cost Reduction and Efficiency Improvement - The company implemented significant cost reduction measures, resulting in a notable increase in net profit in the third quarter, particularly in the controller segment, which saw over 50% quarter-on-quarter growth [5] - Efforts included optimizing processes, digital transformation, and supply chain management to enhance operational efficiency [5] Group 4: Market Position and Strategy - The smart controller market is large and fragmented, with increasing competition; however, the company maintains a competitive edge through R&D capabilities and global operational layout [3][4] - The company aims to expand its market share by enhancing product offerings and penetrating new domestic and international clients [4] Group 5: Future Outlook - The company plans to focus on improving operational quality, including governance, profit margins, and cash flow management, to ensure sustainable growth [3] - The automotive electronics business is expected to maintain high growth rates due to a strong order backlog and ongoing client acquisition [5]

Investment Rating - The investment rating for the company is "Buy" (maintained) [9] Core Views - The company has shown stable revenue growth with a slight recovery in gross margin. In Q3 2024, the company achieved revenue of 2.471 billion yuan, a year-on-year increase of 30.83%, and a net profit attributable to shareholders of 157 million yuan, up 11.90% year-on-year. The controller business segment generated revenue of 2.443 billion yuan, a 29.70% increase year-on-year, and a net profit of 370 million yuan, up 19.56% year-on-year [8] - The company has strengthened its cost control through the establishment of an operational improvement team, while maintaining stable R&D investment. In the first three quarters of 2024, the company's period expenses increased by 27.47% year-on-year, with R&D expenses rising by 45.07% year-on-year [8] - The company is expected to benefit from industry expansion and increasing concentration, with projected revenues of 9.477 billion yuan, 11.876 billion yuan, and 14.830 billion yuan for 2024, 2025, and 2026 respectively, and net profits of 518 million yuan, 765 million yuan, and 996 million yuan for the same years [9] Summary by Sections Company Overview - As of November 6, 2024, the latest closing price is 11.99 yuan, with a 12-month A-share price range of 8.79-14.47 yuan. The total share capital is 925.54 million shares, with a circulating market value of 9.609 billion yuan [6][7] Financial Performance - For the first nine months of 2024, the company achieved a total revenue of 7.040 billion yuan, a year-on-year increase of 28.30%, and a net profit attributable to shareholders of 355 million yuan, up 6.29% year-on-year. The gross margin for Q3 2024 was 19.30%, an increase of 0.27 percentage points year-on-year [8] Future Projections - The company is projected to have a revenue growth rate of 25.8% in 2024, with net profit growth expected to be 56.4% [10]

本公司及董事会全体成员保证信息披露的内容真实、准确和完整，不存在虚假 记载、误导性陈述或者重大遗漏。 深圳和而泰智能控制股份有限公司（以下简称"公司"）于2024年2月6日召开第六届 董事会第十六次会议，审议通过了《关于回购公司股份方案的议案》。同意公司使用自 有资金不少于人民币10,000万元（含），不超过人民币20,000万元（含），以集中竞价交 易方式回购公司部分A股股份，回购的股份将用于员工持股计划或股权激励，以及维护 公司价值及股东权益（其中，用于员工持股计划或股权激励的回购资金总额不低于人民 币3,000万元（含），不超过人民币5,000万元（含）；用于维护公司价值及股东权益的回 购资金总额不低于人民币7,000万元（含），不超过人民币15,000万元（含））；本次回购 价格不超过人民币18.795元/股（含），具体回购股份的数量以公司回购期满时实际回购 的股份数量为准。具体内容详见公司在《证券时报》《中国证券报》和巨潮资讯网 （www.cninfo.com.cn）上披露的相关公告。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第9号—— 回购股份》等法律法规、规范性文件的相关 ...

证券代码：002402 证券简称：和而泰 深圳和而泰智能控制股份有限公司 投资者关系活动记录表 编号：20241101 | --- | --- | --- | |----------------|-------------------------------|-----------------------------------------------------------------------------------------------------| | | | | | 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 | | 中信建投证券、西部证券、申万宏源、天风证券、博时基 金、财通资管、东方红、华夏久盈、易方达、南方基金 | | 时间 | 2024 年 10 月 31 日 | 10:00 -11:00 | | | 2024 年 10 月 31 日 | 13:30-14:30 | | | 2024 年 10 月 ...

证券时报e公司讯，企查查APP显示，近日，深圳天域和泰智能科技有限公司成立，法定代表人为白清 利，注册资本为2000万元，经营范围包含：人工智能应用软件开发；农业机械销售；智能控制系统集 成；电子元器件制造；人工智能硬件销售；食用农产品批发；农业机械制造等。 企查查股权穿透显示，该公司由和而泰、天业节水共同持股。 ...

编号：20241030 证券代码：002402 证券简称：和而泰 深圳和而泰智能控制股份有限公司 投资者关系活动记录表 | --- | --- | --- | |----------------|----------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The report maintains a "Recommended" rating for the company [1][6] Core Views - The company has shown continuous improvement in its operating performance, with a year-on-year revenue increase of 28.3% to 7.04 billion yuan in the first three quarters of 2024 [3] - The controller business segment has been a significant contributor, achieving a revenue of 6.94 billion yuan, up 30.53% year-on-year [3] - The establishment of an operational improvement team has led to enhanced operational efficiency and cost control [4] - The company has seen a notable improvement in cash flow management, with a 45.25% increase in net cash flow from operating activities year-on-year [4] Financial Summary - For the first three quarters of 2024, the company reported a net profit of 360 million yuan, reflecting a 6.29% increase year-on-year [3] - The gross margin and net margin for the first three quarters of 2024 were 18.11% and 4.62%, respectively [3] - The company expects net profits of 524 million yuan, 690 million yuan, and 856 million yuan for 2024, 2025, and 2026, respectively, with corresponding P/E ratios of 20.8, 15.8, and 12.8 [6][10] Business Performance - The company has effectively managed inventory and improved sales collection, leading to a significant increase in cash flow from operations [4] - The controller business has shown strong performance, with a revenue of 2.443 billion yuan in Q3 2024, up 29.7% year-on-year [3] - The company has implemented measures to optimize customer structure and product categories, contributing to profit growth despite cost pressures [4]

证券代码：002402 证券简称：和而泰 公告编号：2024-103 深圳和而泰智能控制股份有限公司 关于拟变更会计师事务所暨聘任公司2024年度审计机构的公告 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。 特别提示： 1、拟聘任会计师事务所：立信会计师事务所（特殊普通合伙）； 2、原聘任会计师事务所：大华会计师事务所（特殊普通合伙）； 3、变更会计师事务所的原因及前任会计师的异议情况：综合考虑公司业务 发展和未来审计的需要，公司拟变更会计师事务所为立信会计师事务所（特殊普 通合伙）并聘任其为公司2024年度审计机构，聘期一年。公司已就本事项与前后 任会计师事务所进行充分沟通，前后任会计师事务所均已明确知悉本次变更事项 并表示无异议。 4、本次拟变更会计师事务所事项符合《国有企业、上市公司选聘会计师事 务所管理办法》等有关规定。公司审计委员会、董事会对本次变更会计师事务所 事项无异议。本次变更事项尚需提交公司股东大会审议。 深圳和而泰智能控制股份有限公司（以下简称"公司"）于2024年3月28日 召开第六届董事会第十七次会议，并于2024年4月19日召开公司 ...

证券代码：002402 证券简称：和而泰 公告编号：2024-101 深圳和而泰智能控制股份有限公司 第六届监事会第二十一次会议决议公告 监 事 会 二〇二四年十月二十九日 深圳和而泰智能控制股份有限公司（以下简称"公司"）第六届监事会第二 十一次会议通知于2024年10月23日以专人和电子邮件的方式送达给各位监事和高 级管理人员。会议于2024年10月28日在广东省深圳市南山区科技南十路航天科技 创新研究院大厦D座10楼和而泰一号会议室以现场结合通讯表决方式召开。会议 应出席监事3名，实际出席监事3名（其中，左勤女士、汪虎山先生以通讯方式出 席），高级管理人员列席了会议。本次会议的出席人数、召集、召开程序和议事 内容均符合《中华人民共和国公司法》和《公司章程》的规定。会议由监事会主 席蒋洪波先生主持，经与会人员认真审议，形成如下决议： 1、会议以3票赞成、0票反对、0票弃权，审议通过了《2024年第三季度报 告》。 经审核，监事会认为：公司董事会编制和审核公司2024年第三季度报告的程序 符合法律、行政法规和中国证监会的有关规定，报告内容真实、准确、完整地反映 了公司的真实情况，不存在任何虚假记载、误导性陈 ...