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 | | --- | --- | --- | --- | --- | --- | | | | ...

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 ...

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 ...

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 ...

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 ...

しかし ... I love you. ស្រុងក្រុងក្រុងក្រុងក្រុងក្រុងក្រុងក្រុងក្រុងក្រ 本次投资者网上集体接待日活动得到了深圳证监局中正中小投资者服务中心的高度重视和大力支持全景网团队也为此次活动进行了周密细致专业高效的准备中正中小投资者服务中心中国银河证券的专家老师们还将在线进行精彩分享 在此我仅代表身上鞋向各指导支持单位表示衷心的感谢和敬意2025年以来资本市场投资者关系管理工作的政策导向与监管脉络愈发清晰在以投资者为本的监管理念深化落实背景下投资者权益保护被放在更加突出的位置监管部门在实践的 一系列举措如从严打击违规减持财务造假等行为推动分红回购常态化等都精准聚焦中小投资者权益保护共同推动构建起制度保障与实践护航并重的投资者保护新生态投资者是资本市场发展的根本上市公司是市场健康运行的基石 尊敬的各位领导各位嘉宾各位投资者朋友们下午好为帮助深圳辖区上市公司更好的传递价值通过透明互动构建上市公司与投资者的信任基础增进投资者对上市公司价值及经营理念的认同感助力上市公司高质量发展 在深圳證監局和中正中小投資者服務中心指導下,深圳上市公司協會、深圳市全景網絡有限公 ...

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]

Investment Rating - Maintains an "Overweight" rating for the company [3][4] - Target price raised to 38.7 RMB, based on a 43x PE multiple for 2025 [3][4] Core Views - The company's Q3 2024 results met expectations, with revenue of 2.872 billion RMB (+38.61% YoY) and net profit of 353 million RMB (+67.79% YoY) [3] - AI-driven demand for computing power is accelerating, positioning the company's liquid cooling solutions as a key growth driver [3] - The company's Coolinside liquid cooling cabinets and end-to-end solutions provide a competitive edge in the liquid cooling market [3] - Cost control measures have improved profitability, with a net profit margin of 12.25% (+2.37pct YoY) [3] Financial Performance - Q3 2024 revenue reached 1.159 billion RMB (+39.16% YoY), with net profit of 169 million RMB (+43.06% YoY) [3] - Gross margin remained stable at 31.73% (-0.9pct YoY) despite rising commodity prices [3] - Sales, management, and financial expense ratios were 6.57% (+2.06pct YoY), 4.4% (-0.49pct YoY), and 0.03% (-0.04pct YoY), respectively [3] Industry and Market Context - AI technology is driving higher computing density, increasing demand for liquid cooling solutions in data centers [3] - The company is among 40+ global infrastructure providers innovating on NVIDIA's Blackwell platform [3] - The liquid cooling market is expected to grow significantly due to advancements in AI and data center technologies [3] Valuation and Forecasts - 2024-2026 EPS forecasts are 0.68, 0.90, and 1.16 RMB, respectively [3] - The company's 2025 PE multiple is set at 43x, higher than the industry average of 42.16x [3] - Revenue is projected to grow from 4.646 billion RMB in 2024 to 7.801 billion RMB in 2026 [9] Stock Performance - The stock price has risen 46% over the past month and 65% over the past year [8] - Current price is 31.70 RMB, with a 52-week range of 17.97-35.40 RMB [5][4]

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative performance increase of over 15% against the benchmark index in the next 6 to 12 months [8]. Core Insights - The company has experienced significant revenue growth, with a 38.61% year-on-year increase in revenue for the first three quarters of 2024, reaching 2.872 billion yuan, and a 67.79% increase in net profit attributable to shareholders, amounting to 353 million yuan [2][3]. - The company is positioned to benefit from the rapid growth in liquid cooling technology driven by AI developments, with a projected doubling of related revenue in the first half of 2024 compared to the previous year [1]. - The company has successfully secured large liquid cooling projects in Southeast Asia and has been recognized for its advanced cooling solutions validated by major tech firms like Intel [1]. Financial Performance Summary - The company's revenue is projected to grow from 3.529 billion yuan in 2023 to 4.746 billion yuan in 2024, representing a 35% growth rate [2]. - Net profit attributable to shareholders is expected to increase from 344 million yuan in 2023 to 552 million yuan in 2024, reflecting a 60% growth rate [2]. - The company's earnings per share (EPS) is forecasted to rise from 0.61 yuan in 2023 to 0.75 yuan in 2024 [2][3]. Operational Efficiency - The company has maintained a stable gross margin of approximately 31.73% for the first three quarters of 2024, with a slight decrease of 0.9 percentage points year-on-year [3]. - The operating expense ratio has improved, decreasing to 18.88% in the first three quarters of 2024, down 2.97 percentage points year-on-year [3]. - The net profit margin has increased to 12.25%, up 1.89 percentage points year-on-year, indicating enhanced profitability [3]. Market Position and Growth Potential - The company is recognized as a leading provider of precision temperature control and energy-saving solutions, with a comprehensive liquid cooling solution capability [3]. - The expansion into electronic cooling products is expected to further enhance growth opportunities, particularly in the context of increasing AI computing power and energy storage installations [3].