证券代码：002518 证券简称：科士达 深圳科士达科技股份有限公司投资者关系活动记录表 编号：2024-008 | 3、请问公司定增项目停止后，对公司未来扩产规划有无影响？ | | --- | | 公司未来战略重点是否有变化？依然重点投入布局新能源吗？ | | 答:您好，公司定增停止不影响公司长期业务规划，公司会根据 | | 业务需求而逐步安排产能。公司依然坚持"数据中心+新能源" | | 的发展战略，两板块协同发展，谢谢！ | | 4、如何看未来海外市场的需求？ | | 答:你好，公司看好海外市场对数据中心产品和新能源产品的需 | | 求，公司会继续保持多年来积累的渠道优势，同时不断拓展新的 | | 客户和销售渠道，加大公司产品对海外的出口。 | | 5、公司上半年研发投入情况如何？ | | 答:公司一直以来注重研发技术创新，2024 年上半年研发投入约 | | 1.3 亿，同比增长 36.36%，主要是研发人员及研发用料等方面的 | | 投入增加。 | | 6、请问公司，上半年的海外营销渠道人员配置，数量有增加么？ | | 哪个区域增加最多？ | | 答:你好，上半年海外营销渠道人员有所增加，主要针对中 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [4]. Core Views - The company reported a revenue of 1.891 billion yuan for the first half of 2024, a year-on-year decrease of 32.99%. The net profit attributable to the parent company was 219 million yuan, down 56.24%, while the net profit excluding non-recurring items was 207 million yuan, a decline of 57.66% [4][7]. - In Q2 2024, the company achieved a revenue of 1.060 billion yuan, a decrease of 25.32% year-on-year, with a net profit of 95 million yuan, down 64.4%, and a net profit excluding non-recurring items of 91 million yuan, down 65.38% [4][7]. - The data center revenue for H1 2024 was 1.232 billion yuan, showing a slight increase year-on-year, while the renewable energy business revenue was 643 million yuan, down 59.18% due to inventory depletion in Europe and delayed orders from major clients [7]. - The gross margin for the data center business was approximately 35.82%, while the renewable energy business had a gross margin of about 23.6%, both experiencing slight declines due to product price reductions [7]. - The company expects a recovery in energy storage shipments as inventory levels decrease and new markets are developed, with a stable outlook for the data center business, projecting a slight year-on-year growth in 2024 [7]. Summary by Sections Financial Performance - For H1 2024, total revenue was 1.891 billion yuan, with a net profit of 219 million yuan and a net profit excluding non-recurring items of 207 million yuan, reflecting significant declines compared to the previous year [4][7]. - The Q2 2024 results showed a revenue of 1.060 billion yuan and a net profit of 95 million yuan, indicating a continued downward trend [4][7]. Business Segments - The data center segment remained stable with a revenue of 1.232 billion yuan, while the renewable energy segment faced challenges with a revenue drop of 59.18% [7]. - The gross margins for the data center and renewable energy segments were 35.82% and 23.6%, respectively, with both segments experiencing slight declines in margins [7]. Future Outlook - The company anticipates a recovery in the renewable energy sector as inventory levels normalize and new markets are explored, alongside a stable growth forecast for the data center business [7].

Investment Rating - The report maintains a "Buy" rating for the company [2][4] Core Views - The company's data center business remains stable, with a slight decline in gross margin [2] - The European residential energy storage market has slowed, putting pressure on the company's energy storage and charging business [2] - The company has significantly increased R&D investment, driving technological advancements and enhancing core competitiveness [2] - The data center business is expected to see new growth opportunities with the acceleration of AI development [2] - The energy storage business is anticipated to recover as European residential energy storage inventory gradually depletes [2] Financial Performance - In H1 2024, the company reported revenue of 1.891 billion yuan, a year-on-year decrease of 32.99% [1] - Net profit attributable to the parent company was 219 million yuan, down 56.24% year-on-year [1] - In Q2 2024, revenue was 1.06 billion yuan, a year-on-year decrease of 25.32%, with net profit attributable to the parent company at 95 million yuan, down 64.4% year-on-year [1] - The data center business generated revenue of 1.232 billion yuan in H1 2024, with a gross margin of 35.82%, down 2.17 percentage points year-on-year [2] - The energy storage and charging business revenue was 627 million yuan, down 59.67% year-on-year, with a gross margin of 22.67%, down 5.06 percentage points [2] R&D and Technological Advancements - R&D expenses in H1 2024 were 130 million yuan, a year-on-year increase of 36.36% [2] - The company has developed diversified and integrated data center products [2] - In the new energy sector, the company is exploring higher system efficiency, lower system costs, and improved safety and reliability [2] Market and Valuation - The company's current stock price corresponds to a PE ratio of 15/11/9 times for 2024-2026 [2] - The total market capitalization is 9.496 billion yuan, with a total share capital of 582 million shares [4] - The stock's price range over the past year was between 14.84 yuan and 30.31 yuan [4] Future Projections - The company's net profit attributable to the parent company is projected to be 623/842/1,048 million yuan for 2024-2026, with a downward revision of 32%/25%/17% [2] - Revenue is expected to grow by 25.46% and 18.70% in 2025 and 2026, respectively [3] - The company's ROE (diluted) is forecasted to be 13.60%/16.11%/17.45% for 2024-2026 [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [4] Core Views - The company's performance in H1 2024 is under pressure due to a decline in demand for household energy storage in Europe, leading to inventory pressure among downstream customers [6][2] - The company's revenue for H1 2024 reached 1.891 billion yuan, a year-on-year decrease of 32.99%, with a net profit attributable to the parent company of 219 million yuan, down 56.24% year-on-year [6] - The company is increasing R&D investment in its new energy business, with R&D expenses in H1 2024 amounting to 130 million yuan, a year-on-year increase of 36.36% [6] - The data center business is focusing on high-end power supply markets to enhance market share, successfully entering key clients such as China Telecom and China Agricultural Bank [6] Financial Summary - In H1 2024, the new energy business generated revenue of 643 million yuan, down 59.18% year-on-year, while the data center business achieved revenue of 1.232 billion yuan, up 0.16% year-on-year [2] - Domestic revenue was 1.039 billion yuan, up 7.05% year-on-year, while overseas revenue was 852 million yuan, down 53.98% year-on-year [2] - The company forecasts revenues of 4.833 billion yuan, 5.820 billion yuan, and 6.978 billion yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of -11.15%, 20.42%, and 19.89% [6][7] - The net profit attributable to the parent company is expected to be 644 million yuan, 838 million yuan, and 1.033 billion yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of -23.77%, 30.06%, and 23.26% [6][7]

来源：公司年报、国金证券研究所 买入(维持评级) 公司点评 证券研究报告 业绩简评 2024 年 8 月 28 日公司披露半年报，上半年实现营收 18.9 亿元， 同比下降 33.0%；实现归母净利润 2.19 亿元，同比下降 56.2%。 其中，Q2 实现营收 10.6 亿元，同比下降 25.3%；实现归母净利润 0.95 亿元，同比下降 64.4%。 经营分析 欧洲户储需求下降，新能源业务业绩承压：上半年公司光储充产 品实现收入 6.27 亿元，同比下降 59.7%，实现毛利率 22.7%，同 比下降 5.1pct。受欧洲户储需求下降以及主要大客户库存消化影 响，上半年公司户储产品出货大幅下降，子公司宁德时代科士达科 技上半年实现营业收入 0.74 亿元，同比下降 92.4%，净利润-0.21 亿元，同比下降 121.8%。 数据中心业务保持稳定，盈利略有下降：上半年公司数据中心业 务实现收入 12.3 亿元，同比基本持平，毛利率 35.8%，同比下降 2.2pct。公司凭借着高可靠的产品、领先的技术水平实现在各行业 及领域市场的持续深耕、重点突破，上半年业务发展相对平稳。 原材料价格下降计提资产减值损失 ...

| 上市公司的子公 | 安徽科士达光伏 | 全资子公司 | 应收账款 | 62,777,690.71 | | | 8,600,000.00 | 54,177,690.71 | 销售商品 | 经营性 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 司及其附属企业 | 有限公司 | | | | | | | | | 占用 | | 上市公司的子公 | 科士达（香港） | 全资子公司 | 应收账款 | 6,430,386.23 | 40,038.41 | | | 6,470,424.64 | 销售商品 | 经营性 | | 司及其附属企业 | 有限公司 | | | | | | | | | 占用 | | 上市公司的子公 | 江西长新金阳光 | 全资子公司 | 应收账款 | 57,759,343.74 | 2,579,274.80 | | 3,500,000.00 | 56,838,618.54 | 销售商品 | 经营性 | | 司及其附属企业 | 电源有限公司 | | | | | | | | | 占用 | | 上市公司的子公 | ...

证券代码：002518 证券简称：科士达 公告编号：2024-052 深圳科士达科技股份有限公司 关于召开2024年半年度网上业绩说明会的公告 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。 深圳科士达科技股份有限公司（以下简称"公司"）于 2024 年 8 月 29 日在巨潮资讯网上披露了《2024 年半年度报告》。为便于广 大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司 定于 2024 年 9 月 2 日（星期一）15:00-17:00 在"价值在线"（www.ir- online.cn）召开公司 2024 年半年度网上业绩说明会，与投资者进行 沟通和交流，广泛听取投资者的意见和建议。 一、说明会召开的时间、地点和方式 会议召开时间：2024 年 9 月 2 日（星期一）15:00-17:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络文字互动方式 二、参加人员 董事长、总经理刘程宇先生，副总经理、董事会秘书范涛先生， 财务负责人轩芳玉女士。 三、投资者参加方式 投 资 者 可 于 2024 年 9 月 2 ...

证券代码：002518 证券简称：科士达 公告编号：2024-049 深圳科士达科技股份有限公司 关于2023年股权激励计划限制性股票回购注销完成的公告 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。 特别提示： 1、深圳科士达科技股份有限公司（以下简称"公司"或"科士 达"）本次回购注销2023年股权激励计划已获授但尚未解除限售的股 票4,578,000股，占回购注销前公司总股本的0.78%，回购价格22.26 元/股，涉及激励对象319名。 2、公司于2024年8月22日在中国证券登记结算有限责任公司深圳 分公司办理完成上述限制性股票的回购注销手续。本次回购注销完成 后，公司总股本由586,803,094股减少至582,225,094股。 深圳科士达科技股份有限公司于 2024 年 7 月 22 日召开的第六届 董事会第十八次会议审议通过了《关于终止实施 2023 年股权激励计 划暨回购注销限制性股票的议案》，经公司董事会审慎研究，决议终 止实施 2023 年限制性股票激励计划（以下简称"激励计划"），并回购 注销已授予尚未解除限售的限制性股票。公司董事会 ...

关于深圳证券交易所同意公司撤回向特定对象发行股票 申请文件的公告 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。 深圳科士达科技股份有限公司（以下简称"公司"）于 2024 年 7 月 22 日召开第六届董事会第十八次会议及第六届监事会第十四次会 议，审议通过了《关于终止 2023 年度向特定对象发行股票事项并撤 回申请文件的议案》，同意公司终止本次向特定对象发行股票事项并 向深圳证券交易所（以下简称"深交所"）申请撤回相关申请文件。 具 体 内 容 详 见 公 司 于 2024 年 7 月 23 日 在 巨 潮 资 讯 网 （http://www.cninfo.com.cn）披露的《关于终止 2023 年度向特定 对象发行股票事项并撤回申请文件的公告》（公告编号：2024-042）。 2024 年 7 月 22 日，公司与保荐机构申万宏源证券承销保荐有限 责任公司向深交所提交了《深圳科士达科技股份有限公司关于撤回向 特定对象发行股票申请文件的申请》《申万宏源证券承销保荐有限责 1 任公司关于撤回深圳科士达科技股份有限公司向特定对象发行股票 申请文件的申请》。 ...

20 深圳证券交易所（以下简称我所）于 2024 年 1 月 26 日依法 受理了你公司向特定对象发行股票的申请文件，并按照规定进行 了审核。 日前，你公司和保荐人申万宏源证券承销保荐有限责任公司 向我所提交了《深圳科士达科技股份有限公司关于撤回向特定对 象发行股票申请文件的申请》和《申万宏源证券承销保荐有限责 任公司关于撤回深圳科士达科技股份有限公司向特定对象发行股 票申请文件的申请》。根据《深圳证券交易所上市公司证券发行上 1 市审核规则》第二十条、《深圳证券交易所股票发行上市审核规则 (2024 年修订)》第六十二条的有关规定,我所决定终止对你公 司申请向特定对象发行股票的审核。 深圳证券交易所文件 深证上审〔2024〕223 号 关于终止对深圳科士达科技股份有限公司申请 向特定对象发行股票审核的决定 深圳科士达科技股份有限公司： 抄送:申万宏源证券承销保荐有限责任公司 深圳证券交易所上市审核中心 2024 年 7 月 30 日印发 2 ...