惠州市德赛西威汽车电子股份有限公司 证券代码：002920 证券简称：德赛西威 公告编号：2024-028 惠州市德赛西威汽车电子股份有限公司 2023 年年度权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、 股东大会审议通过权益分派方案情况 惠州市德赛西威汽车电子股份有限公司（以下简称"公司"、"本公司"）2023 年度权益分派方案已获 2024 年 4 月 18 日召开的 2023 年度股东大会审议通过。 现将权益分派事宜公告如下： 2、自 2023 年度权益分派方案披露至实施期间，公司股本总额未发生变化。 3、本次实施的权益分派方案以固定总额的方式分配，与 2023 年年度股东 大会审议通过的分配方案一致。 4、本次实施分配方案距离股东大会审议通过的时间未超过两个月。 二、本次实施的权益分派方案 本公司 2023 年年度权益分派方案为：以公司现有总股本剔除已回购股份 0 股后的 555,006,100 股为基数，向全体股东每 10 股派 8.400000 元人民币现金（含 税；扣税后，通过深股通持有股份的香港市场投资者、QFII、R ...

证券研究报告 公 2024年04月19日 司 报 告 德赛西威(002920) │ 行 业： 计算机/软件开发 公 投资评级： 司 当前价格： 118.01元 季 自主品牌客户放量，2024 年 Q1 收入高增 目标价格： 报 点 事件： 评 基本数据 4月18日，公司发布2024年一季度业绩报告，2024年Q1公司实现营业收 总股本/流通股本(百万股) 555.01/551.51 入 56.48 亿元，同比增长 41.78%；实现归母净利润 3.85 亿元，同比增长 流通A股市值(百万元) 65,084.01 16.41%；实现扣非归母净利润3.71亿元，同比增长27.23%。 每股净资产(元) 15.06 ➢ 受益自主客户放量，2024年Q1收入高增 2024年Q1公司实现营业收入56.48亿元，同比增长41.78%，收入保持较 资产负债率(%) 54.18 高增速。下游客户来看，合资客户表现分化，一汽大众/上汽大众/一汽丰 一年内最高/最低(元) 179.50/76.44 田/广汽丰田2024年Q1销量同比增速分别为4.6%/9.6%/1%/-29.1%；自主 股价相对走势 方面，奇瑞汽车/理想汽车/吉 ...

Group 1 - The Beijing International Auto Show will take place from April 25 to May 4, 2024, focusing on automotive intelligence with notable models like Xiaomi SU7, Xiangjie S9, Zhiji L6, Huawei Wenjie M9, and Li Auto L6 being showcased [1] - On April 19, A-share indices fell collectively, with the smart car ETF (159888) experiencing a decline of over 3%, and stocks such as Desay SV and Weir Group dropping significantly [1] - The global trend towards automotive electrification remains strong, with continuous growth in the production and sales of new energy vehicles and battery installations [1] Group 2 - AI technology innovations are accelerating the promotion of automotive intelligence, supported by policies exploring the implementation of L3 autonomous driving [1] - The smart car ETF (159888) tracks the CSI Smart Car Theme Index, selecting companies that provide terminal perception and platform applications for smart vehicles, reflecting the overall performance of the smart car industry [1] - The current popularity of the Huaxia Fund's automotive parts ETF (562700) indicates a broad development space for domestic parts companies under the trends of electrification and intelligence in the automotive sector [1]

惠州市德赛西威汽车电子股份有限公司 2023 年度股东大会 之 法律意见书 GLG/SZ/A2577/FY/2024-290 国浩律师（深圳）事务所（以下简称"本所"）接受惠州市德赛西威汽 车电子股份有限公司（以下简称"公司"）的委托，指派律师出席了公司 2023 年度股东大会（以下简称"本次股东大会"）。现根据《中华人民共和 国公司法》《中华人民共和国证券法》《深圳证券交易所上市公司自律监管 指引第 1 号——主板上市公司规范运作指引》等法律、法规、规范性文件以 及《惠州市德赛西威汽车电子股份有限公司章程》（以下简称"《公司章 程》"）的规定，对本次股东大会的召集和召开程序、召集人和出席人员资 格、本次会议审议的议案、会议表决程序和表决结果等事宜出具法律意见。 致：惠州市德赛西威汽车电子股份有限公司 国浩律师（深圳）事务所 关于 为出具本法律意见书，本所律师对本次股东大会所涉及的事项进行了审 查，查阅了本所律师认为出具法律意见书所必需查阅的文件，并对有关问题 进行了必要的核查和验证。 本所同意将本法律意见书随公司本次股东大会的决议一起予以公告，并 依法对本所出具的法律意见承担相应的责任。 根据相关法律法规的 ...

[Key Financial Data](index=2&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) [Key Accounting Data and Financial Indicators](index=2&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%20%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company achieved steady growth in Q1 2024, with significant increases in operating revenue, net profit, total assets, and shareholder equity Key Financial Indicators for Q1 2024 | Indicator | Current Period | Prior-Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 5,647,731,859.41 | 3,983,427,024.66 | 41.78% | | Net Profit Attributable to Shareholders (Yuan) | 384,770,978.67 | 330,525,213.28 | 16.41% | | Net Profit after Non-recurring Items (Yuan) | 370,530,965.09 | 291,239,259.29 | 27.23% | | Net Cash Flow from Operating Activities (Yuan) | 198,468,612.94 | 192,607,804.95 | 3.04% | | Basic Earnings Per Share (Yuan/Share) | 0.70 | 0.60 | 16.67% | | Weighted Average Return on Equity | 4.72% | 4.96% | -0.24% | | **Indicator** | **End of Current Period** | **End of Prior Year** | **Period-over-Period Change (%)** | | Total Assets (Yuan) | 18,483,103,014.85 | 18,014,086,502.65 | 2.60% | | Equity Attributable to Shareholders (Yuan) | 8,356,224,727.17 | 7,952,283,330.30 | 5.08% | [Non-recurring Profit and Loss Items and Amounts](index=2&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%20%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) Total non-recurring profit and loss for the period was ¥14.24 million, primarily composed of ¥19.71 million in government subsidies Details of Non-recurring Profit and Loss for Q1 2024 | Item | Amount (Yuan) | | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -546,403.50 | | Government Subsidies Included in Current Profit/Loss | 19,708,247.06 | | Fair Value Change Gains/Losses on Financial Assets/Liabilities | -504,679.20 | | Other Non-operating Income and Expenses | -2,055,878.61 | | **Total** | **14,240,013.58** | [Analysis of Changes in Key Financial Indicators](index=3&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%20%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) Significant changes occurred in financial indicators, including growth in financial assets and receivables, a 41.78% revenue increase, and reduced net cash flows from investing and financing activities - **Trading financial assets** increased by **194.68%** YoY, mainly due to an increase in floating-rate wealth management products[9](index=9&type=chunk) - **Other receivables** increased by **131.50%** YoY, mainly due to an increase in tax refunds receivable at the end of the period[9](index=9&type=chunk) - **Contract liabilities** increased by **45.07%** YoY, mainly due to an increase in advance payments received[9](index=9&type=chunk) - **Other current liabilities** increased by **1530.26%** YoY, mainly due to an increase in output tax corresponding to advance receipts[9](index=9&type=chunk) - **Operating revenue** increased by **41.78%** YoY, mainly due to an increase in orders during the period[10](index=10&type=chunk) - **R&D expenses** increased by **30.10%** YoY, reflecting the company's continued investment in research and development[10](index=10&type=chunk) - **Financial expenses** increased by **325.99%** YoY, mainly due to an increase in foreign exchange losses[10](index=10&type=chunk) - **Asset impairment losses** changed significantly by **-6585.02%** YoY, mainly due to increased provisions for inventory write-downs[10](index=10&type=chunk) - **Net cash flow from investing activities** net outflow decreased by **30.17%** YoY, mainly due to a reduction in wealth management investments[10](index=10&type=chunk) - **Net cash flow from financing activities** net inflow decreased by **90.29%** YoY, mainly due to a reduction in bank credit borrowings[10](index=10&type=chunk) [Shareholder Information](index=4&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) [Shareholding of Common Stockholders](index=4&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%20%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the reporting date, the company had 32,706 common stockholders, with a concentrated ownership structure led by two major shareholders holding 28.31% and 27.46% respectively - As of the end of the reporting period, the total number of common stockholders was **32,706**[12](index=12&type=chunk) Top Three Shareholders' Holdings | Shareholder Name | Shareholding Ratio (%) | Number of Shares | | :--- | :--- | :--- | | Guangdong Desay Group Co, Ltd | 28.31% | 157,106,250.00 | | Huizhou Innovation Investment Co, Ltd | 27.46% | 152,418,750.00 | | Xinyu Weili De Investment Consulting Partnership (Limited Partnership) | 3.46% | 19,177,494.00 | [Other Important Matters](index=5&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) Effective February 3, 2024, the company's control structure changed to having no controlling shareholder or actual controller due to the restoration of certain shareholder voting rights - Effective February 3, 2024, the company transitioned to a state of **no controlling shareholder and no actual controller** due to the restoration of certain shareholder voting rights[14](index=14&type=chunk) [Quarterly Financial Statements](index=5&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Consolidated Balance Sheet](index=5&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of March 31, 2024, total assets were ¥18.48 billion, up 2.60%, while total liabilities were ¥10.01 billion, and equity attributable to shareholders grew by 5.08% to ¥8.36 billion Key Items of the Consolidated Balance Sheet | Item | Ending Balance (Yuan) | Beginning Balance (Yuan) | | :--- | :--- | :--- | | **Total Assets** | **18,483,103,014.85** | **18,014,086,502.65** | | Total Current Assets | 13,975,734,121.56 | 13,675,161,455.51 | | Total Non-current Assets | 4,507,368,893.29 | 4,338,925,047.14 | | **Total Liabilities** | **10,013,563,582.65** | **9,953,950,597.00** | | Total Current Liabilities | 8,783,939,756.92 | 8,722,675,954.02 | | Total Non-current Liabilities | 1,229,623,825.73 | 1,231,274,642.98 | | **Total Equity** | **8,469,539,432.20** | **8,060,135,905.65** | | Equity Attributable to Parent Company | 8,356,224,727.17 | 7,952,283,330.30 | [Consolidated Income Statement](index=7&type=section&id=2%E3%80%81%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In Q1 2024, the company's total operating revenue was ¥5.65 billion, up 41.78% YoY, with net profit attributable to the parent company reaching ¥385 million, a 16.41% increase Key Items of the Consolidated Income Statement | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 5,647,731,859.41 | 3,983,427,024.66 | | Total Operating Costs | 5,305,646,263.49 | 3,718,853,610.02 | | R&D Expenses | 523,037,588.65 | 402,031,516.04 | | Operating Profit | 455,259,697.87 | 389,646,764.79 | | Total Profit | 452,657,415.76 | 389,690,154.52 | | Net Profit | 389,874,356.71 | 329,545,260.52 | | Net Profit Attributable to Parent Company | 384,770,978.67 | 330,525,213.28 | | Basic Earnings Per Share | 0.70 | 0.60 | [Consolidated Cash Flow Statement](index=9&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Net cash from operating activities was ¥198 million in Q1 2024, while net cash used in investing activities decreased and net cash from financing activities significantly declined Key Items of the Consolidated Cash Flow Statement | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 198,468,612.94 | 192,607,804.95 | | Net Cash Flow from Investing Activities | -453,192,106.33 | -648,984,657.35 | | Net Cash Flow from Financing Activities | 32,696,940.76 | 336,797,098.58 | | Net Increase in Cash and Cash Equivalents | -223,744,626.05 | -110,373,856.63 | | Ending Balance of Cash and Cash Equivalents | 909,415,728.39 | 926,450,901.73 | [Audit Status](index=11&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's financial report for the first quarter of 2024 has not been audited - The company's first-quarter report is **unaudited**[25](index=25&type=chunk)

惠州市德赛西威汽车电子股份有限公司 证券代码：002920 证券简称：德赛西威 公告编号：2024-027 惠州市德赛西威汽车电子股份有限公司 2023 年度股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东大会无否决、修改、增加议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （2）网络投票时间：2024 年 4 月 18 日 通过深圳证券交易所交易系统进行投票的具体时间为 2024 年 4 月 18 日上 午 9：15 至 9：25、9：30 至 11：30，下午 13：00 至 15：00；通过深圳证券交 易所互联网投票系统进行投票的时间为 2024 年 4 月 18 日上午 9：15 至下午 3： 00。 惠州市德赛西威汽车电子股份有限公司 6、会议召开地点：广东省惠州市惠城区惠南高新科技产业园惠泰北路 6 号 德赛西威会议室。 7、本次会议的召集、召开符合有关法律、行政法规、部门规章、规范性文 件和 公司章程的规定。 1、股东大会届次：2023 年度股东大会 2、股东大 ...

惠州市德赛西威汽车电子股份有限公司 4、会议召开日期和时间 证券代码：002920 证券简称：德赛西威 公告编号：2024-025 惠州市德赛西威汽车电子股份有限公司 关于召开 2023 年度股东大会的提示性公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 惠州市德赛西威汽车电子股份有限公司（以下简称"公司"、"本公司"或"德赛 西威"）第三届董事会第二十二次会议审议通过了《关于提议召开公司 2023 年度股东 大会的议案》，决定于 2024 年 4 月 18 日召开公司 2023 年度股东大会，公司已于 2024 年 3 月 28 日在巨潮资讯网（http://www.cninfo.com.cn）和《证券时报》、《中国证券 报》、《上海证券报》、《证券日报》上披露了《关于召开 2023 年度股东大会的通知》 （公告编号：2024-021）。本次股东大会采取现场投票与网络投票结合的方式进行，现 将本次股东大会的有关事项再次通知如下： 一、召开会议的基本情况 1、股东大会届次：2023 年度股东大会 2、股东大会的召集人：公司董事会 3、会议召开的合法、合规性： ...

惠州市德赛西威汽车电子股份有限公司 证券代码：002920 证券简称：德赛西威 公告编号：2024-024 惠州市德赛西威汽车电子股份有限公司 关于公司变更注册资本并修订《公司章程》完成工商变更登记的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 惠州市德赛西威汽车电子股份有限公司（以下简称"公司"）于 2023 年 12 月 22 日召开第三届董事会第二十一次会议，于 2024 年 1 月 10 日召开 2024 年第 一次临时股东大会，审议通过了《关于公司变更注册资本并修订<公司章程>的 议案》，具体内容请详见公司于 2023 年 12 月 23 日与 2024 年 1 月 11 日在《证券 日 报 》、《 证 券 时 报 》、《 上 海 证 券 报 》、《 中 国 证 券 报 》 和 巨 潮 资 讯 网 （www.cninfo.com.cn）上披露的相关公告。 一、工商变更登记办理情况 截至本公告披露日，公司已完成了上述注册资本变更事项的工商登记及《公 司章程》的备案手续，并取得了惠州市市场监督管理局换发的《营业执照》，具 体登记信息如下： 二、其 ...

惠州市德赛西威汽车电子股份有限公司 证券代码：002920 证券简称：德赛西威 公告编号：2024-023 具体内容详见公司于 2023 年 10 月 25 日在《证券日报》、《证券时报》、《上 海证券报》、《中国证券报》和巨潮资讯网（www.cninfo.com.cn）披露的《关于公 司全资子公司拟与专业投资机构共同投资设立产业基金的公告》（公告编号： 2023-050）。 二、共同投资进展情况 公司于近日收到通知，长江中大西威（杭州）股权投资基金合伙企业（有限 惠州市德赛西威汽车电子股份有限公司 合伙）已完成工商登记设立手续。具体注册信息如下： 惠州市德赛西威汽车电子股份有限公司 关于公司全资子公司与专业投资机构共同投资设立产业基金的进展 公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、共同投资概述 惠州市德赛西威汽车电子股份有限公司 (以下简称"公司") 于 2023 年 10 月 24 日召开第三届董事会第二十次会议审议通过了《关于公司全资子公司拟与 专业投资机构共同投资设立产业基金的议案》，同意公司的全资子公司深圳市德 赛西威产业投资有限公 ...

Investment Rating - The investment rating for the company is not explicitly stated in the provided content, but the report indicates a positive outlook based on revenue and profit growth [1]. Core Viewpoints - The company achieved a revenue of 21.91 billion yuan in 2023, representing a year-on-year increase of 46.7%, and a net profit attributable to shareholders of 1.55 billion yuan, up 30.6% year-on-year [1]. - The company’s gross profit margin for 2023 was 20.4%, a decrease of 2.6 percentage points year-on-year, while the net profit margin was 7.04%, down 0.8 percentage points year-on-year [1]. - The company has three main business drivers: smart cockpit, intelligent driving, and connected services, which contributed to record revenue growth [1]. - The company has made significant progress in international markets, securing new project orders from major clients such as AUDI, VOLKSWAGEN, and STELLANTIS [1]. Summary by Sections Financial Performance - In Q4 2023, the company reported a revenue of 7.44 billion yuan, a year-on-year increase of 54.2%, and a net profit of 586 million yuan, up 19.3% year-on-year [1]. - The company’s revenue from the smart cockpit business was 15.80 billion yuan, up 34.42% year-on-year, driven by the mass production of third-generation high-performance smart cockpit products [1]. - The intelligent driving business generated 4.49 billion yuan in revenue, a year-on-year increase of 74.43%, primarily from the scale launch of advanced intelligent driving solutions [1]. - The connected services business achieved revenue of 1.62 billion yuan, a significant increase of 167.39% year-on-year [1]. Cost and Efficiency - The company’s management, sales, and R&D expense ratios for 2023 were 2.3%, 1.4%, and 9.1%, respectively, showing a decrease compared to the previous year [1]. - The report indicates that the company’s operating efficiency is improving, with the potential for continued profit margin recovery in the future [1]. Market Expansion - The company has successfully expanded its international market presence, establishing a global service system and securing new clients across Europe, Southeast Asia, Japan, and North America [1]. - The report highlights the company’s strong development momentum in technology and product areas, which is expected to enhance its client base and market balance [1]. Profit Forecast - The company is projected to benefit from increasing recognition and penetration of intelligent technologies, with expected net profits of 2.14 billion yuan, 2.74 billion yuan, and 3.83 billion yuan for 2024, 2025, and 2026, respectively [2]. - Corresponding EPS estimates for the same years are 3.86 yuan, 4.93 yuan, and 6.91 yuan, with P/E ratios of 34.81, 27.27, and 19.47 [2].