相当于我们主要是做钱庄的这种充电器就是大家买手机的时候盒子里带的这些那么我们是从最开始就从业务来看的话公司上市初期基本上90%多的这个营收都是手机的充电器那么后面我们也是跟着手机厂因为我们可以看到一些手机厂他除了做手机之外也做了一些其他的一些智能设备 像小米他们也做了类似于华为支架还有小米支架这种IoT设备那么我们第二块业务就是我们的一个IoT设备器 那么IoT实验器之后呢其实这些手机厂他们又逐渐的在做笔记本就比如就像这个小米华为他们也是有着自己的笔记本我们也是进入了笔记本市场那么陆续呢我们的这个客户也从原有的这些手机厂的笔记本拓展到了像之前的IoT同机华硕那么包括从今年和去年开始我们是去年年底 进了这个联想之后今年进了惠普相当于是在整个笔记本的这个产业链里面也是有着比较不错的一个布局那么在整个消费电子板块除了笔记本之外呢其实我们可以看到无论是手机到笔记本都是一个功率往上走的过程那么其实再往上往大的这个功率去做就是我们叫做 动力工具的一些适配器比如就像PTI他们做的那种类似于电动钻的还有一些家用吸尘器各种机的各种电源产品那么我们也是有所布局那么以上是我们主要的一个销售电子档号那么在适配器里面其实我们除了给手机 ...

证券代码：002993 证券简称：奥海科技 公告编号：2024-016 东莞市奥海科技股份有限公司 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、完 整，没有虚假记载、误导性陈述或重大遗漏。 特别提示： 东莞市奥海科技股份有限公司（以下简称"公司"）2023 年度利润分配方案 为：以 2023 年 12 月 31 日总股本 27,604 万股为基数，拟向全体股东每 10 股派 发现金股利人民币 6 元（含税），不送红股，不以资本公积金转增股本。经过上 述利润分配后，剩余未分配利润结转以后年度分配。 一、股东大会审议通过权益分派方案情况 公司 2023 年度利润分配方案已获 2024 年 5 月 23 日召开的 2023 年年度股东 大会审议通过，具体内容为：以 2023 年 12 月 31 日总股本 27,604 万股为基数， 拟向全体股东每 10 股派发现金股利人民币 6 元（含税），不送红股，不以资本公 积金转增股本。经过上述利润分配后，剩余未分配利润结转以后年度分配。 本次实施分配方案与股东大会审议通过的分配方案一致，自分配方案披露至 实施期间公司股本总额未发生变 ...

Financial Performance - In 2023, the company achieved a revenue of 5.174 billion CNY, representing a year-on-year growth of 15.84% [2] - The net profit attributable to shareholders for 2023 was 441 million CNY, with a year-on-year increase of 0.76% [2] - In Q4 2023, revenue reached 1.606 billion CNY, up 43.69% year-on-year, with a net profit of 92 million CNY, growing by 63.55% [2] - For Q1 2024, revenue was 1.363 billion CNY, marking a 51.06% increase year-on-year, and net profit was 123 million CNY, up 37.72% [3] Strategic Vision and Long-term Goals - The company positions itself as a leader in energy-efficient applications, aiming to make energy more efficient and the world better [3] - The "One Three Three Strategy" includes focusing on an innovation and manufacturing platform, three boundaries (energy exchange, efficient storage, centralized supply), and three major fields (consumer electronics, new energy vehicles, and digital energy) [3] - Short-term goals include maintaining leadership in the mobile phone sector, while mid-term goals target achieving three 10 billion CNY revenue streams across mobile phones, consumer electronics, new energy vehicles, and digital energy [3] Product and Market Development - In 2023, mobile chargers generated 3.159 billion CNY in revenue, accounting for 61.05% of total revenue, with a market share of 17% [3] - Wireless charging products and IoT adapters also showed significant growth, with IoT adapters contributing 567 million CNY, representing 10.97% of total revenue [3] - The new energy vehicle control products reached 547 million CNY in revenue, a 50.36% increase year-on-year, making up 10.58% of total revenue [3] Research and Development - R&D expenses increased to 308.4 million CNY in 2023, a 26.17% rise, constituting 5.96% of total revenue [4] - The company has established two CNAS laboratories and received over 2,500 product certifications across 93 countries [4] - As of the end of 2023, the company holds 638 authorized patents, with 90 granted in 2023 [4] International Expansion and Market Share - The proportion of foreign sales in total revenue rose from 30.90% in 2022 to 33.70% in 2023, indicating significant growth potential in international markets [4][7] - The company plans to establish six overseas core offices and a factory in Vietnam in 2024 [7] - The strategy includes enhancing local supply capabilities and integrating into global supply chains to better serve international clients [9] Customer Engagement and Product Diversification - The company is expanding its customer base in mobile chargers, PC adapters, wireless chargers, and power tools, focusing on major international brands [5] - With the increasing integration of AI in mobile devices, the demand for high-power charging solutions is expected to rise, with many models now featuring 100W fast charging capabilities [5] - The company is also exploring applications in AI PCs, with some products already integrated into high-power PC offerings [5] Future Outlook - The company aims to continuously develop new products and expand into new application areas to provide energy-efficient solutions for the smart IoT era [8] - The focus will be on platform-based technology and products, particularly in power electronics, to maintain competitive advantages in the market [8]

23H1 增长动能切换，非手机业务快速增长 | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------|-----------------------------------------------|-------------------|-------|-------|--------------------------|-------| | [Table_Industry] [Table_Title] 评级：买入（维持） \n市场价格： 33.71 元 | [Table_Finance 公司盈利预测及估值 1] \n指标 | \n2022A | 2023A | 2024E | 2025E | 2026E | | 分析师： 王芳 | 营业收入（百万元） | 4,467 | 5,174 | 6,717 | 8,144 | 9,840 | | | 增长率 yoy% | 5% | 16% | 29.8% | 21.2% | 20. ...

Investment Rating - The report assigns a "Buy" rating to the company with a target price of 45.4 CNY for 2024, based on a 20x PE ratio [2][4][57]. Core Insights - The company is actively expanding its overseas market and has shown impressive performance in Q1 2024, driven by increased product orders and a steady rise in market share [2][4]. - The company focuses on three main sectors: consumer electronics, new energy vehicles, and digital energy, with significant progress reported in each area [2][4]. - The projected compound annual growth rate (CAGR) for net profit from 2024 to 2026 is expected to reach 28.7% [2][4]. Summary by Sections Business Performance - In 2023, the company achieved a revenue of 5.174 billion CNY, a year-on-year increase of 15.8%, and a net profit of 440.94 million CNY, up 0.75% [4][26]. - For Q1 2024, the company reported revenues of 1.36 billion CNY and a net profit of 120 million CNY, reflecting year-on-year increases of 51.1% and 37.7%, respectively [4][26]. Revenue Breakdown - The revenue from the charger segment was 3.96 billion CNY, with a year-on-year growth of 12.7%. The portable energy storage and other products generated 670 million CNY, up 13%, while the new energy vehicle control products saw a significant increase of 50.4%, reaching 550 million CNY [4][24][57]. Profitability Metrics - The company's gross margin for 2023 was 22.3%, with a net margin of 8.5%. The gross margin for the charger segment was 20.6%, while the portable energy storage and new energy vehicle segments had gross margins of 35.2% and 18.0%, respectively [4][45][57]. Future Projections - The company anticipates revenues of 7.055 billion CNY in 2024, with a growth rate of 36.35%, and expects net profits to reach 627.14 million CNY, reflecting a growth rate of 42.23% [5][57]. - The new energy vehicle control system orders are projected to grow at rates of 47.0%, 28.8%, and 16.2% from 2024 to 2026, with gross margins expected to improve to 23% by 2026 [54][57]. Strategic Focus - The company aims to leverage its existing business and technology to expand into wireless chargers, PC adapters, IoT power supplies, and digital energy solutions, enhancing its competitive edge in the energy application sector [38][39]. - The strategic plan includes a focus on energy-efficient applications and aims to achieve long-term goals of generating 10 billion CNY in revenue from each of its three main sectors [35].

上 市 公 司 | --- | --- | |------------------------------------|-------------------------------| | 市场数据： | 2024 年 04 月 30 日 | | 收盘价（元） | 33.53 | | 一年内最高 / 最低（元） | 44.5/23.1 | | 市净率 | 1.9 | | 息率（分红/ 股价） | 0.89 | | 流通 A 股市值（百万元） | 7976 | | 上证指数/深证成指 | 3104.83/9587.13 | | 注："息率"以最近一年已公布分红计算 | | 相关研究 报告原因：有业绩公布需要点评 买入（维持）投资要点： 公告：2023 年公司实现营收 51.74 亿元，YoY+15.84%；归母净利润 4.41 亿元， YoY+0.76%；扣非归母净利润 3.59 亿元，YoY-14.31%，业绩低于预期。1Q24 公司营 收 13.63 亿元，YoY +51.06%；归母净利润 1.23 亿元，YoY +37.72%；扣非归母净利润 1.00 亿元，YoY +39.57%。一季度业绩超预期。 ...

本报告仅供 Choice 东方财富 使用，请勿传阅。 公司快报 2024 年 04 月 30 日 奥海科技(002993.SZ) 事件：公司发布 2023 年报及 2024 年一季报，2023 年实现营业收 入 51.74 亿元，同比增长 15.84%；实现归母净利润 4.41 亿元，同比 增长 0.76%；实现扣非归母净利润 3.59 亿元，同比下降 14.31%。24Q1 实现营业收入 13.63 亿元，同比增长 51.06%；实现归母净利润 1.23 亿元，同比增长 37.72%；实现扣非归母净利润 1.00 亿元，同比增长 39.57%。 单季度来看，23Q4 公司实现营收 16.06 亿元（yoy+43.69%， qoq+3.49% ）， 创 单 季 历 史 新 高 ， 实 现 归 母 净 利 润 0.92 亿 元 （yoy+63.55%，qoq-30.72%），受汇率波动、股权激励摊销、研发投 入加大、年底费用计提等影响；24Q1 延续景气向上态势，公司营收及 业绩均实现同比高增长。公司持续加大研发投入，2023/24Q1 研发费 用分别达到 3.08/0.91 亿元（yoy+26.17%/yoy ...

本公司具备证券投资咨询业务资格，请务必阅读最后一页免责声明 证券研究报告 3 民生证券股份有限公司（以下简称"本公司"）具有中国证监会许可的证券投资咨询业务资格。 本报告仅供本公司境内客户使用。本公司不会因接收人收到本报告而视其为客户。本报告仅为参考之用，并不构成对客户的投资 建议，不应被视为买卖任何证券、金融工具的要约或要约邀请。本报告所包含的观点及建议并未考虑个别客户的特殊状况、目标或需 要，客户应当充分考虑自身特定状况，不应单纯依靠本报告所载的内容而取代个人的独立判断。在任何情况下，本公司不对任何人因 使用本报告中的任何内容而导致的任何可能的损失负任何责任。 本报告是基于已公开信息撰写，但本公司不保证该等信息的准确性或完整性。本报告所载的资料、意见及预测仅反映本公司于发 布本报告当日的判断，且预测方法及结果存在一定程度局限性。在不同时期，本公司可发出与本报告所刊载的意见、预测不一致的报 告，但本公司没有义务和责任及时更新本报告所涉及的内容并通知客户。 在法律允许的情况下，本公司及其附属机构可能持有报告中提及的公司所发行证券的头寸并进行交易，也可能为这些公司提供或 正在争取提供投资银行、财务顾问、咨询服务 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating expected strong performance relative to the market [11][32]. Core Insights - The company achieved a revenue of 5.174 billion yuan in 2023, a year-on-year increase of 15.84%, with a net profit attributable to shareholders of 441 million yuan, up 0.76% year-on-year [2][3]. - For Q1 2024, the company reported a revenue of 1.363 billion yuan, representing a 51.06% year-on-year growth, and a net profit of 123 million yuan, up 37.72% year-on-year [2][3]. - The report highlights the growth potential in the electric vehicle sector, particularly due to the mass production of new energy vehicle products [2][11]. Financial Performance Summary - Revenue and Profit Forecasts: The company is projected to achieve net profits of 641 million yuan, 861 million yuan, and 1.047 billion yuan for 2024, 2025, and 2026 respectively, with corresponding EPS of 2.32 yuan, 3.12 yuan, and 3.79 yuan [2][27]. - Revenue Breakdown: In 2023, the charger and adapter segment generated 3.959 billion yuan (76.52% of total revenue), while the electric control products for new energy vehicles contributed 547 million yuan (10.58% of total revenue) [3][12]. - Cost and Margin Analysis: The gross margin for 2023 was 22.25%, a slight increase of 0.50 percentage points year-on-year, while the gross margin for Q1 2024 was 22.08%, showing a decrease of 2.25 percentage points year-on-year [2][3]. Market Outlook - The report anticipates a recovery in the smartphone market in 2024, which is expected to drive continued growth in the company's mobile charger business [12][26]. - The company has completed the development of its 2000W mainstream server power supply, which is expected to contribute to revenue growth as production ramps up [12][26].

Revenue and Profit Growth - Revenue for the first quarter of 2024 reached 1,363,054,583.70 yuan, a 51.06% increase compared to the same period last year[4] - Net profit attributable to shareholders of the listed company was 122,655,007.67 yuan, up 37.72% year-on-year[4] - Net profit reached 124,211,732.30, a 34.9% increase from the previous period[24] - Total operating profit stood at 142,304,436.48, up 41.5% from the previous period[24] - Net profit attributable to parent company owners was 122,655,007.67, a 37.7% increase[24] - The company's total profit for the period was 142,336,666.96, a 42% increase from the previous period[24] - Total revenue for the period reached 1,363,054,583.70 yuan, a significant increase from 902,354,048.50 yuan in the previous period[41] - Net profit attributable to the parent company's owners increased to 1,805,273,972.22 yuan, compared to 1,682,618,964.55 yuan at the beginning of the period[40] Cash Flow and Financial Performance - Operating cash flow increased by 28.38% to 193,111,035.71 yuan, driven by higher cash inflows from sales[6] - Financial expenses showed a significant improvement, with a 1992.09% increase in net gains, primarily due to higher foreign exchange gains[6] - Interest income rose to 14,955,726.51, a 52.2% increase compared to the previous period[24] - Cash and cash equivalents slightly decreased to 2,531,816,799.61 yuan from 2,535,831,970.11 yuan at the beginning of the period[38] - Net cash flow from operating activities was 193,111,035.71 yuan, up from 150,426,813.24 yuan in the previous period[46] - Cash received from investments was 1,278,162,853.20 yuan, a decrease from 2,774,584,045.00 yuan in the previous period[46] - Net cash flow from investing activities was -174,321,596.38 yuan, an improvement from -1,266,714,264.02 yuan in the previous period[46] - Net cash flow from financing activities was 4,856,854.19 yuan, a significant improvement from -167,631,124.13 yuan in the previous period[46] - The company's cash and cash equivalents balance at the end of the period was 1,657,478,846.40 yuan, up from 907,220,489.50 yuan in the previous period[46] R&D and Operating Costs - R&D expenses rose by 51.76% to 90,657,505.04 yuan, primarily due to increased employee compensation and material costs[6] - R&D expenses increased to 90,657,505.04, up 51.8% compared to the previous period[24] - Operating costs rose to 1,249,819,240.61 yuan, up from 815,173,597.56 yuan in the previous period[41] Assets and Liabilities - Total assets as of March 31, 2024, stood at 8,494,311,519.99 yuan, a 1.06% increase from the end of the previous year[4] - Total assets increased to 8,494,311,519.99 yuan as of March 31, 2024, compared to 8,405,578,526.48 yuan at the beginning of the period[40] - Fixed assets increased to 1,370,869,117.52 yuan, up from 1,253,569,974.93 yuan at the beginning of the period[40] - Short-term borrowings decreased to 63,386,761.64 yuan from 104,501,490.45 yuan at the beginning of the period[40] - Long-term borrowings increased significantly to 95,200,000.00 yuan from 18,600,000.00 yuan at the beginning of the period[41] - Total liabilities decreased slightly to 3,498,098,856.44 yuan from 3,544,450,971.85 yuan at the beginning of the period[40] Government Subsidies and Other Income - Government subsidies recognized as other income increased by 265.19% to 14,960,376.67 yuan[6] - Other comprehensive income after tax was 465,814.00, a significant improvement from the previous loss of -4,901,510.46[24] Shareholder and Ownership Information - The company's largest shareholder, Shenzhen Aohai Technology Co., Ltd., holds 39.61% of the shares[36] - The total number of ordinary shareholders at the end of the reporting period was 19,726[36] - The company's employee stock ownership plan holds 1.03% of the shares[36] Construction and Prepayments - Construction in progress increased by 108.81% to 61,090,825.90 yuan, driven by ongoing projects in the Shahe industrial park[6] - Prepayments grew by 316.89% to 26,867,767.77 yuan, mainly due to increased advance payments for goods[6] Trade Receivables and Liabilities - Trade receivables decreased to 1,504,940,376.34 yuan from 1,690,541,916.85 yuan at the beginning of the period[38] - Long-term loans surged by 411.83% to 95,200,000.00 yuan, reflecting new borrowings during the period[6] Comprehensive Income and Earnings - Comprehensive income for the period totaled 12,467,754,630 yuan, with 12,312,046,491 yuan attributable to owners of the parent company[44] - Basic and diluted earnings per share were both 0.44 yuan[44] Cash Flow from Sales and Services - Cash received from sales of goods and services was 1,687,753,674.30 yuan, a significant increase from the previous period's 1,101,938,716.94 yuan[44] Audit Information - The company's first quarter report for 2024 was not audited[45]