Financial Performance - Revenue for Q1 2024 was RMB 15.97 billion, a decrease of 22.02% compared to the same period last year[4] - Net profit attributable to shareholders was a loss of RMB 482.83 million, a decrease of 118.70% year-over-year[4] - Operating income for the quarter was 15.97 billion yuan, a decrease of 22.01% compared to 20.48 billion yuan in the same period last year[17] - Net profit attributable to the parent company's owners was 1.66 billion yuan, a decrease of 2.83% from 1.71 billion yuan in the previous year[16] - Net profit attributable to parent company owners was -482.83 million yuan, compared to 2.58 billion yuan in the same period last year[18] - Total comprehensive income was -565.46 million yuan, compared to 2.65 billion yuan in the same period last year[19] - Basic earnings per share were -0.15 yuan, compared to 0.79 yuan in the same period last year[19] Cash Flow and Liquidity - Operating cash flow was negative RMB 3.54 billion, a decrease of 286.80% compared to the same period last year[4] - Cash flow from financing activities increased by 533.30% to RMB 7.88 billion, driven by increased borrowing[8] - Cash flow from operating activities was -3.54 billion yuan, compared to 1.90 billion yuan in the same period last year[20] - Cash flow from investing activities was -4.46 billion yuan, compared to -1.68 billion yuan in the same period last year[21] - Cash flow from financing activities was 7.88 billion yuan, compared to -1.82 billion yuan in the same period last year[21] - Cash and cash equivalents at the end of the period were 6.67 billion yuan, compared to 4.45 billion yuan in the same period last year[21] - Sales of goods and services received 13.61 billion yuan in cash, compared to 16.24 billion yuan in the same period last year[20] - Purchases of goods and services paid 16.82 billion yuan in cash, compared to 13.69 billion yuan in the same period last year[20] Borrowings and Financial Expenses - Short-term borrowings increased by 245.85% to RMB 3.38 billion due to increased borrowing[7] - Long-term borrowings surged by 407.80% to RMB 7.50 billion[7] - Financial expenses increased by 134.41% to RMB 144.52 million due to higher interest income, interest expenses, and exchange losses[7] - Short-term borrowings surged to 3.38 billion yuan from 978.59 million yuan, an increase of 245.83%[15] - Long-term borrowings increased to 7.50 billion yuan from 1.48 billion yuan, a growth of 407.68%[15] Assets and Liabilities - Total assets increased by 2.95% to RMB 109.74 billion compared to the end of the previous year[4] - The company's monetary funds at the end of the period were 15,006,288,540.37 yuan, a decrease from 15,988,433,550.07 yuan at the beginning of the period[14] - Accounts receivable increased to 9,367,269,138.19 yuan from 9,165,987,673.61 yuan at the beginning of the period[14] - Inventory increased to 16,279,307,460.54 yuan from 14,471,851,729.28 yuan at the beginning of the period[14] - Total current assets at the end of the period were 51,818,651,981.66 yuan, up from 49,132,039,748.74 yuan at the beginning of the period[14] - Fixed assets increased to 42,622,657,205.11 yuan from 36,865,874,794.59 yuan at the beginning of the period[14] - Total assets increased to 109.74 billion yuan from 106.59 billion yuan, a growth of 2.95%[15] - Total liabilities rose to 72.22 billion yuan from 68.59 billion yuan, an increase of 5.29%[15] - Contract liabilities rose to 5.02 billion yuan from 4.87 billion yuan, an increase of 3.10%[15] - Total equity attributable to the parent company's owners decreased to 34.76 billion yuan from 35.12 billion yuan, a reduction of 1.03%[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 185,286[9] - The largest shareholder, Dongtai Jingtaifu Technology Co., Ltd., holds 47.45% of the shares, amounting to 1,570,307,572 shares[9] - The company repurchased 20,284,808 shares through the Shenzhen Stock Exchange, with a total transaction value of 400,000,211.47 yuan[13] - The company terminated the 2022 and 2023 equity incentive plans and completed the cancellation of stock options and restricted stock[13] Operational Metrics - The company's battery module shipments in Q1 2024 reached 16.059GW, with overseas shipments accounting for approximately 62% and distribution shipments accounting for 29%[12] - Operating costs decreased to 16.58 billion yuan from 17.78 billion yuan, a reduction of 6.75%[17] - R&D expenses for the quarter were 217.58 million yuan, down 21.79% from 278.17 million yuan in the previous year[17] - Asset impairment losses increased by 288.08% to RMB 257.89 million, mainly due to increased inventory write-downs[7] Miscellaneous - The company's first quarter report was unaudited[22]

| 证券代码：002459 | 证券简称：晶澳科技 | 公告编号：2024-032 | | --- | --- | --- | | 债券代码：127089 | 债券简称：晶澳转债 | | 晶澳太阳能科技股份有限公司 关于"晶澳转债"预计触发转股价格修正条件的提示性公告 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。 重要内容提示： 自 2024 年 4 月 11 日至 2024 年 4 月 24 日，晶澳太阳能科技股份有限公 司（以下简称"公司"）股票已有十个交易日收盘价低于"晶澳转债"当期转股 价格 38.78 元/股的 85%，若未来二十个交易日内有五个交易日公司股票收盘价 格继续低于当期转股价格的 85%，将可能触发"晶澳转债"的转股价格修正条件。 若触发转股价格修正条件，公司将按照《晶澳太阳能科技股份有限公司向不特定 对象发行可转换公司债券募集说明书》（以下简称《募集说明书》）的约定及时履 行审议程序和信息披露义务。敬请广大投资者注意投资风险。 一、可转换公司债券基本情况 经中国证券监督管理委员会《关于同意晶澳太阳能科技股份有限公司向不特 定对象发行可 ...

| 证券代码：002459 | 证券简称：晶澳科技 | 公告编号：2024-030 | | --- | --- | --- | | 债券代码：127089 | 债券简称：晶澳转债 | | 晶澳太阳能科技股份有限公司 第六届董事会第十九次会议决议公告 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。 晶澳太阳能科技股份有限公司（以下简称"公司"）第六届董事会第十九次 会议于 2024 年 4 月 10 日在公司会议室以现场表决和通讯表决的方式召开。 召开本次会议的通知已于 2024 年 4 月 7 日以电话、电子邮件等方式通知了 各位董事。本次会议由公司董事长靳保芳先生主持，会议应参加的董事 9 名，实 到董事 9 名，符合《中华人民共和国公司法》及《公司章程》的规定。经与会董 事认真审议，会议以记名投票表决方式通过如下议案： 一、审议通过《关于不向下修正"晶澳转债"转股价格的议案》 董事靳保芳、靳军辉、陶然为关联董事，已对本议案回避表决。 具体内容详见同日披露于巨潮资讯网（http://www.cninfo.com.cn）的《关于 不向下修正"晶澳转债"转股价格 ...

| 证券代码：002459 | 证券简称：晶澳科技 | 公告编号：2024-031 | | --- | --- | --- | | 债券代码：127089 | 债券简称：晶澳转债 | | 一、可转换公司债券基本情况 经中国证券监督管理委员会《关于同意晶澳太阳能科技股份有限公司向不特 定对象发行可转换公司债券注册的批复》（证监许可〔2023〕1164 号）同意，公 司于 2023 年 7 月 18 日向不特定对象发行可转换公司债券 89,603,077 张，每张面 晶澳太阳能科技股份有限公司 关于不向下修正"晶澳转债"转股价格的公告 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。 重要内容提示： 自 2024 年 3 月 19 日至 2024 年 4 月 10 日，晶澳太阳能科技股份有限公 司（以下简称"公司"）股票已有十五个交易日收盘价低于"晶澳转债"当期转 股价格的 85%，已触发"晶澳转债"转股价格向下修正条款。 经公司第六届董事会第十九次会议审议通过，公司董事会决定本次不向 下修正"晶澳转债"转股价格。下一触发转股价格修正条款的期间从 2024 年 4 ...

截至 2022 年末，公司经审计归属于上市公司股东的净资产为 2,750,470.76 万元，2024 年 1-3 月公司累计新增借款金额 839,170.57 万元，占 2022 年末经审 计归属于上市公司股东的净资产的 30.51%。 | 证券代码：002459 | 证券简称：晶澳科技 | 公告编号：2024-029 | | --- | --- | --- | | 债券代码：127089 | 债券简称：晶澳转债 | | 晶澳太阳能科技股份有限公司 关于 2024 年累计新增借款的公告 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。 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管 指引第 15 号——可转换公司债券》的有关规定，现就晶澳太阳能科技股份有限 公司（以下简称"公司"）2024 年累计新增借款情况公告如下： 一、主要财务数据情况 四、其他说明 2024 年 1-3 月新增借款数据以合并口径计算，未经审计，敬请投资者注意投 资风险。 特此公告。 晶澳太阳能科技股份有限公司 二、新增借款的类型 公司 2024 年 1-3 月累计新增 ...

| 证券代码：002459 | 证券简称：晶澳科技 | 公告编号：2024-028 | | --- | --- | --- | | 债券代码：127089 | 债券简称：晶澳转债 | | 晶澳太阳能科技股份有限公司 二、担保进展情况 2024年3月1日至2024年3月31日，公司为合并报表范围内下属公司提供担保、 下属公司之间互相担保、下属公司为公司提供担保的实际新增担保额为62.28亿 元，具体情况如下： 关于 2024 年度公司合并报表范围内担保的进展公告 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。 一、担保情况概述 晶澳太阳能科技股份有限公司（以下简称"公司"）于2023年12月12日召开 第六届董事会第十五次会议、2023年12月28日召开2023年第四次临时股东大会， 审议通过了《关于2024年度公司与下属公司担保额度预计的议案》，同意公司为 合并报表范围内下属公司提供担保、下属公司之间互相担保、下属公司为公司提 供担保，2024年度新增担保额度总计不超过人民币570亿元，其中向资产负债率 为70%以上的担保对象的新增担保额度为不超过379亿元， ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The report indicates that the price of photovoltaic components has been declining since the second half of 2023, with significant drops in prices for TOPCon182mm and PERC182mm components by 39% and 34% respectively compared to July 2023 [2][3] - The report forecasts a potential stabilization in component prices as inventory levels are gradually being digested, with expectations for increased demand in the upcoming traditional peak season for photovoltaic components [3][8] - The company's profit forecast has been revised downwards due to declining profitability in integrated components, with projected net profits for 2023-2025 at 76.2 billion, 36.0 billion, and 50.6 billion respectively, reflecting a year-on-year growth rate of +37.7%, -52.7%, and +40.4% [3][18] Summary by Sections Industry Overview - Global new photovoltaic installations are expected to reach 480 GW in 2024, a year-on-year increase of 23%, indicating a slowdown in growth compared to previous years [4][5] - The competitive landscape in the photovoltaic industry is intensifying, with the market share of the top five manufacturers decreasing from 58% in 2021 to 40% in 2023, leading to increased competition and potential profit declines for integrated companies [4][5] Company Performance - The company achieved a revenue of 599.81 billion in the first three quarters of 2023, a year-on-year increase of 21.61%, with a net profit of 67.65 billion, up 105.62% [11] - The company's gross margin and net margin have been on the rise due to high demand and capacity utilization in the photovoltaic sector [11] Financial Projections - The report projects the company's revenue for 2023-2025 to be 772.3 billion, 789.7 billion, and 943.7 billion respectively, with corresponding net profits of 76.2 billion, 36.0 billion, and 50.6 billion [17][18] - The average selling price of components is expected to decline significantly, impacting profit margins, with projected gross margins of 19.4%, 14.3%, 14.7%, and 14.6% for 2023-2026 [14][18]

| | | 债券代码：127089 债券简称：晶澳转债 晶澳太阳能科技股份有限公司 关于"晶澳转债"转股价格调整的公告 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。 重要内容提示： 一、可转换公司债券基本情况 经中国证券监督管理委员会《关于同意晶澳太阳能科技股份有限公司向不特 定对象发行可转换公司债券注册的批复》（证监许可〔2023〕1164 号）同意，公 司于 2023 年 7 月 18 日向不特定对象发行可转换公司债券 89,603,077 张，每张面 值人民币 100 元，募集资金总额人民币 8,960,307,700.00 元，扣除发行有关费用 （不含税）后募集资金净额为人民币 8,933,848,025.97 元。中兴财光华会计师事 务所（特殊普通合伙）于 2023 年 7 月 24 日出具了中兴财光华审验字（2023）第 110003 号《验资报告》，对上述募集资金到位情况进行了审验。公司对募集资金 进行专户存储，并与保荐机构、存放募集资金的商业银行签订了募集资金监管协 议。 经深圳证券交易所同意，公司 896,030.77 万元可转换公司债券于 ...

| | | 截至 2024 年 3 月 31 日，公司通过深圳证券交易所交易系统以集中竞价交易 方式回购公司股份 20,284,808 股，占目前公司总股本的比例为 0.61%，最高成交 价为 22.16 元/股，最低成交价为 16.31 元/股，成交总金额为 400,000,211.47 元 （不含印花税、交易佣金等交易费用）。 本次回购股份资金来源为公司自有资金，回购价格均未超过回购价格上限。 本次回购股份符合法律法规的规定，符合公司既定的回购股份方案。 1 晶澳太阳能科技股份有限公司 关于回购公司股份进展的公告 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。 重要内容提示： 截至 2024 年 3 月 31 日，晶澳太阳能科技股份有限公司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股份 20,284,808 股，占目前公司总股本的 比例为 0.61%，最高成交价为 22.16 元/股，最低成交价为 16.31 元/股，成交总金 额为 400,000,211.47 元（不含印花税、交易佣金等交易费用）。 一、回购股份基本情况 晶澳太阳能科技股份有 ...

| 证券代码：002459 | 证券简称：晶澳科技 | 公告编号：2024-025 | | --- | --- | --- | | 债券代码：127089 | 债券简称：晶澳转债 | | 晶澳太阳能科技股份有限公司 关于"晶澳转债"预计触发转股价格修正条件的提示性公告 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。 重要内容提示： 自 2024 年 3 月 19 日至 2024 年 4 月 1 日，晶澳太阳能科技股份有限公 司（以下简称"公司"）股票已有十个交易日收盘价低于"晶澳转债"当期转股 价格 38.74 元/股（自 2024 年 4 月 2 日起转股价格由 38.74 元/股调整为 38.78 元/ 股）的 85%，若未来二十个交易日内有五个交易日公司股票收盘价格继续低于当 期转股价格的 85%，将可能触发"晶澳转债"的转股价格修正条件。若触发转股 价格修正条件，公司将按照《晶澳太阳能科技股份有限公司向不特定对象发行可 转换公司债券募集说明书》（以下简称《募集说明书》）的约定及时履行审议程序 和信息披露义务。敬请广大投资者注意投资风险。 一、可转换公司 ...