证券代码：002837 证券简称：英维克 公告编号：2024-058 深圳市英维克科技股份有限公司 第四届监事会第十五次会议决议公告 本公司及监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。 一、监事会会议召开情况 1、深圳市英维克科技股份有限公司（以下简称"公司"）第四届监事会第十五次 会议通知于 2024 年 11 月 13 日以专人送达形式向各位监事送出。 2、召开本次监事会会议的时间：2024 年 11 月 19 日；地点：公司三楼会议室； 方式：现场。 5、本次监事会会议的召集、召开和表决程序符合有关法律、行政法规、部门规 章、规范性文件和公司章程的规定。 二、监事会会议审议情况 （一）审议通过《关于拟续聘会计师事务所的议案》 鉴于立信会计师事务所（特殊普通合伙）在为本公司提供审计服务过程中表现出 的良好的业务水平和职业道德，监事会同意继续聘请立信会计师事务所（特殊普通合 伙）承担公司 2024 年度财务报表和内部控制审计工作。 表决结果：3 票同意、0 票反对、0 票弃权。 具体内容详见巨潮资讯网（www.cninfo.com.cn）披露的《关于拟续聘会计师 ...

深圳市英维克科技股份有限公司 董事会 （2024 年 11 月） | | 原章程 | | | | | | | | | | | | | 新章程 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 第六条 公 | 资 | 司 | 注 | 册 | 本 | 为 | 人 | 民 | 币 | 第六条 | 公 | 司 | 注 | 册 | 资 | 本 | 为 | 人 | 民 | 币 | | 568,818,725.00 | | | 元。 | | | | | | | 743,822,694.00 元。 | | | | | | | | | | | | 第二十条 | 公司股份总数为 | | | | | 568,818,725 | | 股，均 | | 第二十条 公司股份总数为 | | | | | | 743,822,694 | | | | 股， | | 为人民币普通股。 | | | | | | | | ...

证券代码：002837 证券简称：英维克 公告编号：2024-056 深圳市英维克科技股份有限公司 2024 年 5 月，公司实施 2023 年年度权益分派方案，公司 2023 年利润分配 方案为：以公司总股本 568,901,593 股为基数，向全体股东每 10 股派发现金红 利 2 元（含税），共派发现金红利 113,780,318.60 元（含税）；不送红股；同时 以资本公积金转增股本方式向全体股东每 10 股转增 3 股。上述权益分派方案实 施后，上海秉原的股份减持数量应相应调整为：股东上海秉原计划以大宗交易方 式减持公司股份不超过 3,900,000 股（含 3,900,000 股），约占公司当时总股本 比例 0.53%。 近日，公司收到上海秉原出具的《上海秉原旭股权投资发展中心（有限合伙） 关于减持计划期限届满的告知函》，截止本公告披露日，上述减持计划期限已届 满。现将相关情况公告如下： 一、 股东减持情况 1.减持明细 | 股东名称 | 减持方式 | 减持期间 | 减持均价 | 减持股数 | 占公司目前总 | | --- | --- | --- | --- | --- | --- | | | | ...

Investment Rating - The report maintains a "Buy" rating for the company [8] Core Views - The company's performance continues to grow rapidly, with Q1-Q3 2024 net profit exceeding the full-year 2023 figure [3] - The company's IDC temperature control business remains highly prosperous, with revenue growth of 85.9% YoY in H1 2024 [4] - The energy storage temperature control business is accelerating, with expected growth in H2 2024 [4] - Inventory and contract liabilities have increased significantly, providing strong support for future high growth [4] - The company has accumulated over 1GW of liquid cooling project delivery experience, leading the industry [5] - The company is the only one in the industry to achieve full-chain layout of liquid cooling products and full-chain coverage of liquid cooling industry customers [5] Business Performance - Q1-Q3 2024 revenue reached 2.872 billion yuan, up 38.6% YoY [3] - Q1-Q3 2024 net profit attributable to the parent company was 353 million yuan, up 67.8% YoY [3] - Q3 2024 revenue was 1.16 billion yuan, up 39.2% YoY [3] - Q3 2024 net profit attributable to the parent company was 170 million yuan, up 43.1% YoY [3] - Q3 2024 gross margin was 32.8%, up 0.7 pct QoQ but down 0.7 pct YoY [3] Industry Outlook - The IDC temperature control business is expected to maintain high growth [4] - The energy storage temperature control business is expected to accelerate in H2 2024 [4] - The liquid cooling penetration rate is expected to increase with the high prosperity of domestic and foreign computing power construction [4] Financial Projections - 2024-2026 net profit attributable to the parent company is projected to be 557 million yuan, 756 million yuan, and 960 million yuan, respectively [6] - 2024-2026 EPS is projected to be 0.75 yuan, 1.02 yuan, and 1.29 yuan, respectively [10] - 2024-2026 PE ratio is projected to be 44x, 32x, and 25x, respectively [6]

整改报告 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。 深圳市英维克科技股份有限公司（以下简称"公司"）近日收到中国证券监督 管理委员会深圳监管局（以下简称"深圳证监局"）下发的《深圳证监局关于对深 圳市英维克科技股份有限公司采取责令改正措施的决定》（行政监管措施决定书 【2024】205 号）（以下简称"《决定书》"）要求公司对检查发现的问题进行改 正。 收到《决定书》后，公司高度重视，立即向公司全体董事、监事、高级管理人 员及相关部门人员进行了通报、传达，迅速召集相关部门和人员对决定书中涉及的 问题进行了全面梳理和深入分析，同时对照有关法律法规以及公司各项管理制度的 规定和要求，结合公司实际情况，制定整改方案，明确责任、落实整改措施。现将 整改情况及有关说明报告如下: 证券代码：002837 证券简称：英维克 公告编号：2024-055 深圳市英维克科技股份有限公司 关于深圳证监局对公司采取责令改正措施决定的 一、本次整改的总体工作安排 为了更好地落实《决定书》中相关整改要求，公司成立了整改工作小组，由公 司董事长担任组长，组织相关部门做好整改工作。公司 ...

证券代码：002837 证券简称：英维克 公告编号：2024-054 深圳市英维克科技股份有限公司 第四届监事会第十四次会议决议公告 本公司及监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。 一、监事会会议召开情况 1、深圳市英维克科技股份有限公司（以下简称"公司"）第四届监事会第十四次 会议通知于 2024 年 10 月 31 日以电话、口头方式发出，全体监事一致同意豁免会议 通知时限。 2、召开本次监事会会议的时间：2024 年 11 月 1 日；地点：公司三楼会议室；方 式：现场。 3、本次监事会会议应出席的监事 3 名，实际出席会议的监事 3 名。 4、本次会议由监事会主席刘军先生召集和主持，董事会秘书欧贤华先生列席会 议。 5、本次监事会会议的召集、召开和表决程序符合有关法律、行政法规、部门规 章、规范性文件和公司章程的规定。 二、监事会会议审议情况 （一）审议通过《关于深圳证监局对公司采取责令改正措施决定的整改报告》 二〇二四年十一月一日 监事会认为：公司出具的《关于深圳证监局对公司采取责令改正措施决定的整改 报告》符合相关法律法规以及深圳证监局行政监管措施 ...

证券代码：002837 证券简称：英维克 公告编号：2024-053 深圳市英维克科技股份有限公司 第四届董事会第十四次会议决议公告 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。 2、第四届董事会第三次独立董事专门会议决议。 特此公告。 《关于深圳证监局对公司采取责令改正措施决定的整改报告》具体内容详见 同日披露于《中国证券报》《证券时报》《上海证券报》《证券日报》及巨潮资 讯网（www.cninfo.com.cn）。 表决结果：同意 9 票、反对 0 票、弃权 0 票。 本议案已经公司独立董事专门会议审议通过。 三、备查文件 1、第四届董事会第十四次会议决议； 一、董事会会议召开情况 深圳市英维克科技股份有限公司（以下简称"公司"）第四届董事会第十四 次会议于 2024 年 11 月 1 日在公司会议室以现场和通讯相结合的方式召开。经全 体董事一致同意，本次会议已豁免通知期限，会议通知于 2024 年 10 月 31 日以电 话、口头等方式送达给全体董事。本次会议应出席董事 9 人，实际出席董事 9 人 （其中董事朱晓鸥女士、屈锐征女士、文芳女士、田志伟先 ...

一、《行政监管措施决定书》的主要内容 （一）《深圳证监局关于对深圳市英维克科技股份有限公司采取责令改正措施的 决定》（〔2024〕205 号） 深圳市英维克科技股份有限公司： 证券代码：002837 证券简称：英维克 公告编号：2024-052 深圳市英维克科技股份有限公司 关于公司及相关人员收到深圳证监局行政监管措施决定 书的公告 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。 深圳市英维克科技股份有限公司（以下简称"公司"）近日收到中国证券监督管 理委员会深圳监管局（以下简称"深圳证监局"）下发的《深圳证监局关于对深圳市 英维克科技股份有限公司采取责令改正措施的决定》（〔2024〕205 号）、《深圳证 监局关于对齐勇、叶桂梁采取出具警示函措施的决定》（〔2024〕206 号）。 现将具 体情况公告如下： 经查，深圳市英维克科技股份有限公司（以下简称公司）在商誉减值核算方面存 在不规范情形，影响了相关财务信息披露的准确性。我局已对公司采取了责令改正的 监管措施（行政监管措施决定书〔2024〕205 号）。公司董事长兼总经理齐勇、财务总 监叶桂梁，对上述问题 ...

Investment Rating - Buy (Maintained) [1] Core Views - Strong Q3 2024 performance with revenue of 1.159 billion yuan, up 39.16% YoY, and net profit attributable to shareholders of 169 million yuan, up 43.06% YoY [1] - Non-GAAP net profit of 163 million yuan, up 52.19% YoY, and basic EPS of 0.23 yuan, up 43.75% YoY [1] - The company is well-positioned to capitalize on the digital transformation wave, providing efficient thermal management solutions [1] - Liquid cooling technology, including direct and indirect cooling methods, is a key focus area, with the company offering comprehensive solutions [1] - Continued R&D investment, with R&D expenses of 226 million yuan in the first three quarters of 2024, up 32.46% YoY [1] - The company is a leading provider of precision thermal management solutions, serving industries such as cloud computing, data centers, and electric vehicle charging stations [1] - Revenue forecasts for 2024-2026 are 4.724 billion yuan, 6.194 billion yuan, and 7.885 billion yuan, respectively, with net profit forecasts of 528 million yuan, 696 million yuan, and 888 million yuan [1] Financial Performance - Revenue for 2023 was 3.529 billion yuan, with a projected increase to 4.724 billion yuan in 2024, 6.194 billion yuan in 2025, and 7.885 billion yuan in 2026 [2] - Net profit attributable to shareholders was 344 million yuan in 2023, with forecasts of 528 million yuan in 2024, 696 million yuan in 2025, and 888 million yuan in 2026 [2] - Gross margin remained stable at around 32% from 2023 to 2026 [2] - ROE is expected to increase from 13.9% in 2023 to 22.3% in 2026 [2] - EPS is projected to grow from 0.46 yuan in 2023 to 1.20 yuan in 2026 [2] Financial Ratios - Revenue growth rates for 2024-2026 are forecasted at 33.86%, 31.13%, and 27.30%, respectively [6] - Net profit growth rates for 2024-2026 are projected at 53.60%, 31.67%, and 27.62%, respectively [6] - Gross margin is expected to remain stable at around 32% from 2023 to 2026 [6] - ROE is forecasted to increase from 13.86% in 2023 to 22.34% in 2026 [6] - P/E ratios are expected to decrease from 68.43 in 2023 to 26.51 in 2026 [6] Cash Flow and Balance Sheet - Operating cash flow for 2023 was 453 million yuan, with forecasts of 122 million yuan in 2024, 168 million yuan in 2025, and 369 million yuan in 2026 [4] - Net cash flow from financing activities was -116 million yuan in 2023, with forecasts of 67 million yuan in 2024, -396 million yuan in 2025, and -299 million yuan in 2026 [4] - Total assets are projected to increase from 5.091 billion yuan in 2023 to 8.371 billion yuan in 2026 [5] - Total liabilities are expected to rise from 2.609 billion yuan in 2023 to 4.397 billion yuan in 2026 [5] Industry and Market Position - The company is a leader in precision thermal management solutions, with a strong presence in data center liquid cooling and electric vehicle charging station markets [1] - The company's liquid cooling technology is widely used in data centers and telecommunications, with a focus on both direct and indirect cooling methods [1] - The company is well-positioned to benefit from the growing demand for digital transformation and energy-efficient cooling solutions [1]

Investment Rating - The report maintains a "Buy" rating for the company with a 6-month target price of 31.7 RMB [1] Core Views - The company's Q3 revenue reached 1.159 billion RMB, a year-on-year increase of 39.16%, driven by growth in data center temperature control and energy-saving products [1] - AI development trends are driving server power increases, making liquid cooling applications a growing trend, with the company's liquid cooling-related revenue doubling compared to the same period last year [1] - The company's gross margin for the first three quarters was 31.73%, with a net profit margin of 12.25%, showing a year-on-year improvement in profitability [2] - The company has strong domestic partnerships with major clients like Huawei and telecom operators, and has provided cooling systems for large data centers of Tencent, Alibaba, and others [2] - Internationally, the company has made breakthroughs with Intel and is expected to expand further with major clients in the computing power sector [2] Financial Performance - The company's revenue for the first three quarters of 2024 was 2.872 billion RMB, a year-on-year increase of 38.61%, with net profit attributable to shareholders reaching 353 million RMB, up 67.79% year-on-year [3] - Q3 revenue was 1.159 billion RMB, a year-on-year increase of 39.16%, with net profit attributable to shareholders of 169 million RMB, up 43.06% year-on-year [3] - The company's liquid cooling solutions have been delivered for projects exceeding 900MW, positioning it well to capitalize on industry opportunities [3] Industry and Market Position - The company is a leader in the temperature control industry, with nearly 20 years of experience, and is well-positioned to benefit from the AI-driven demand for cooling solutions [3] - The company's Coolinside liquid cooling solution has been widely adopted, with significant potential for growth in both domestic and international markets [3] Financial Projections - The company's revenue is projected to grow from 4.931 billion RMB in 2024E to 8.445 billion RMB in 2026E, with a compound annual growth rate (CAGR) of 29.62% [7] - Net profit attributable to shareholders is expected to increase from 519.99 million RMB in 2024E to 951.66 million RMB in 2026E, with a CAGR of 33.83% [7] - The company's EPS is projected to grow from 0.70 RMB in 2024E to 1.28 RMB in 2026E [7] Valuation Metrics - The company's P/E ratio is expected to decrease from 45.27x in 2024E to 24.74x in 2026E, reflecting strong earnings growth [7] - The P/B ratio is projected to decline from 8.08x in 2024E to 5.77x in 2026E, indicating improving asset efficiency [7] - The EV/EBITDA ratio is expected to decrease from 29.65x in 2024E to 17.03x in 2026E, suggesting improving valuation metrics [7]