Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has reported strong growth in net profit, achieving a year-on-year increase of 101.23% in the first three quarters of 2024, with a net profit of 450 million yuan [2] - The company is focusing on "smart manufacturing + integrated services" and the electric vehicle charging network, both of which are showing good development momentum [3] - The company maintains its profit forecast, expecting net profits of 870 million, 1.471 billion, and 2.028 billion yuan for 2024, 2025, and 2026 respectively, with corresponding EPS of 0.82, 1.39, and 1.92 yuan per share [2][4] Financial Performance Summary - For the first three quarters of 2024, the company achieved operating revenue of 10.49 billion yuan, a year-on-year increase of 11.56%, and a gross profit margin of 20.5%, up 1.1 percentage points year-on-year [2] - The company’s net profit margin improved to 4.1%, an increase of 2.0 percentage points year-on-year [2] - The company’s operating income is projected to grow from 14.602 billion yuan in 2023 to 18.651 billion yuan in 2024, representing a year-on-year growth of 27.7% [4] Business Segments - The company has significantly increased its standardized and modular "product lifecycle management" platform, enhancing product design and production efficiency while reducing costs [3] - In the electric vehicle charging sector, the company leads the market with a public charging pile inventory of 640,000 units, accounting for approximately 19.2% market share [3]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of RMB 29.58 [5][4]. Core Views - The company benefits from the "Matthew Effect" in the charging pile industry, with a steady increase in revenue from its power equipment business [1][2]. - The company has a leading market share of 20.38% in the charging pile sector, with a significant increase in the number of charging piles operated [2][3]. - The company is expanding its production capacity in the outdoor box-type power equipment sector, particularly in the modular substation products for renewable energy [3][4]. Financial Performance - In Q3 2024, the company reported revenue of RMB 4.158 billion, a year-on-year increase of 9.55% and a quarter-on-quarter increase of 10.49% [1]. - The net profit attributable to the parent company for Q3 2024 was RMB 253 million, showing a year-on-year increase of 98.26% and a quarter-on-quarter increase of 92.63% [1]. - The gross margin and net margin for Q3 2024 were 20.75% and 5.89%, respectively, with a slight decrease in gross margin compared to the previous quarter [1]. Market Position - The company has maintained its position as the top player in the charging pile market, with a continuous expansion of its charging network driven by the increasing penetration of new energy vehicles [2][3]. - The company has achieved the highest market share in the railway market and is a leader in the modular substation market for renewable energy [3][4]. Earnings Forecast - The report forecasts net profits for the company to be RMB 671 million, RMB 921 million, and RMB 1.207 billion for the years 2024, 2025, and 2026, respectively [4][10]. - The expected revenue growth rates for the next few years are projected at 26.73%, 24.73%, and 22.07% for 2024, 2025, and 2026, respectively [4][10].

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Views - The company's Q3 2024 performance met expectations, with a revenue of 10.49 billion yuan, a year-on-year increase of 11.56%, and a net profit of 447 million yuan, up 101.23% year-on-year [6] - The electric vehicle charging network business is steadily advancing, with a market share of approximately 19.22% as of September 2024, and a total of 639,700 public charging piles in operation, reflecting a year-on-year growth of 2.93% [6][7] - The company has been awarded a project for charging infrastructure construction in He County, with a bid amount of approximately 134 million yuan, indicating high recognition of its charging network technology and service capabilities [7] - The company is projected to achieve revenues of 18.75 billion, 23.33 billion, and 28.88 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 796 million, 1.17 billion, and 1.38 billion yuan [8] Summary by Sections Financial Performance - For Q1-Q3 2024, the company achieved a total revenue of 10.49 billion yuan, with a net profit of 447 million yuan, and a non-recurring net profit of 385 million yuan, showing significant year-on-year growth [6] - Q3 2024 revenue was 4.16 billion yuan, with a net profit of 253 million yuan, reflecting a year-on-year increase of 98.26% [6] Market Position - The company holds a market share of 25.61% in the direct current charging pile segment, with a total of 384,400 direct current charging piles in operation [6] - The total charging power added in September 2024 was approximately 22.96 million kW, marking a year-on-year increase of 46.99% [6] Future Projections - The company is expected to see revenue growth rates of 28.41%, 24.42%, and 23.81% for the years 2024, 2025, and 2026 respectively [8] - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 0.75, 1.11, and 1.31 yuan respectively, with corresponding price-to-earnings (P/E) ratios of 30x, 20x, and 17x [8]

Group 1 - A new company named Urumqi Bus Telai Electric Charging Network Technology Co., Ltd. has been established with a registered capital of 24 million yuan [1] - The company is involved in the operation of electric vehicle charging infrastructure, sales of new energy vehicle electrical accessories, and centralized rapid charging stations [1] - The company is jointly owned by Teruid's subsidiary Telai Electric New Energy Co., Ltd. and Urumqi Public Transport Group Co., Ltd. [1]

上海段和段（青岛）律师事务所 法律意见书 上海段和段（青岛）律师事务所 上海段和段（青岛）律师事务所 山东省青岛市市南区东海西路 5 号甲华银大厦 27 层 27/F, Huayin Building, No. 5, Donghai Road(W), Shinan District, Qingdao, China Tel: +86 0532-66161678 http://www.duanduan.com 上海段和段（青岛）律师事务所 法律意见书 上海段和段（青岛）律师事务所 关于青岛特锐德电气股份有限公司 调整 2024 年员工持股计划购买价格的 法律意见书 关于青岛特锐德电气股份有限公司 调整2024年员工持股计划购买价格的法律意见书 致：青岛特锐德电气股份有限公司 上海段和段（青岛）律师事务所接受特锐德的委托，作为青岛特锐德电气股份有 限公司2024年员工持股计划（以下简称"本员工持股计划"）的特聘专项法律顾问， 已经出具了《上海段和段（青岛）律师事务所关于青岛特锐德电气股份有限公司2024 年员工持股计划（草案）的法律意见书》（以下简称为"《法律意见书》"）。现本 所律师根据《公司法》《证券法》《指导 ...

Financial Performance - The company's operating revenue for Q3 2024 reached ¥4,157,996,199.48, representing a 9.55% increase compared to ¥3,795,469,329.81 in the same period last year[2] - Net profit attributable to shareholders was ¥253,382,435.49, a significant increase of 98.26% from ¥127,803,190.35 year-on-year[2] - The net profit excluding non-recurring gains and losses was ¥224,851,399.01, up 95.84% from ¥114,815,864.02 in the previous year[2] - Basic and diluted earnings per share both stood at ¥0.25, reflecting a 108.33% increase compared to ¥0.12 in the same period last year[3] - Operating profit for the current period was ¥464,781,258.84, significantly higher than ¥197,856,365.44 in the previous period, reflecting a growth of 134.8%[21] - Net profit for the current period reached ¥433,712,464.94, compared to ¥197,110,568.70 in the previous period, marking an increase of 119.9%[22] - Basic earnings per share for the current period were ¥0.44, up from ¥0.21 in the previous period, representing a growth of 109.5%[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥23,965,938,114.09, showing a slight increase of 0.37% from the previous year[3] - Total liabilities decreased to approximately ¥16.09 billion from ¥16.18 billion, indicating a reduction of about 0.5%[19] - The company's equity attributable to shareholders increased to approximately ¥6.91 billion, up from ¥6.69 billion, reflecting a growth of about 3.3%[19] Cash Flow - Cash flow from operating activities was negative at -¥325,599,283.65, a significant decline compared to a positive cash flow of ¥32,575,548.13 in the same period last year[2] - The net cash flow from operating activities was -325,599,283.65 CNY, a significant decline compared to 32,575,548.13 CNY in the previous year[24] - Cash inflow from operating activities totaled ¥11,975,223,104.35, an increase from ¥10,070,878,817.48 in the previous period, reflecting a growth of 18.9%[23] - The total cash and cash equivalents at the end of the period were 965,834,243.06 CNY, compared to 1,139,115,764.08 CNY at the end of the previous year[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 63,295, with the largest shareholder, Qingdao Derui Investment Co., Ltd., holding 31.57% of shares, totaling 333,290,422 shares[8] - The company has initiated a share repurchase plan with a total fund of no less than RMB 150 million and no more than RMB 300 million, with a maximum repurchase price of RMB 25 per share[13] - As of February 26, 2024, the company has repurchased a total of 15,694,340 shares, accounting for 1.49% of the total share capital, with an average transaction price of RMB 19.11 per share[13] - The report highlights that the largest shareholder, Qingdao Derui Investment Co., Ltd., has a 61.97% stake in the company, indicating a strong control over the company[9] Inventory and Prepayments - The company experienced a 57.87% increase in prepayments, primarily due to higher advance payments for raw material purchases[7] - The company’s inventory stock increased by 74.33% as a result of share buybacks during the reporting period[7] - Inventory rose to approximately ¥1.84 billion, an increase of about 14% from ¥1.61 billion[17] Research and Development - Research and development expenses for the current period were ¥386,661,493.75, up from ¥342,905,823.84 in the previous period, showing an increase of 12.7%[20] Other Financial Metrics - The company reported a government subsidy of ¥45,077,673.34 for the current period, contributing to its financial performance[4] - Other income increased to ¥176,856,753.73 from ¥121,857,121.35 in the previous period, reflecting a growth of 45.1%[21] - Tax expenses decreased to ¥43,513,278.95 from ¥49,338,783.69 in the previous period, a reduction of 11.7%[20] Share Repurchase and Changes - The company has a pledge of 160,340,000 shares by Qingdao Derui Investment Co., Ltd., indicating a leveraged position[8] - The company repurchased and canceled 206,000 restricted shares due to the departure of 13 incentive plan participants, reducing total share capital from 1,055,897,713 shares to 1,055,691,713 shares[15] - The company plans to grant 1.4 million restricted shares at a price of ¥9.88 per share to 10 eligible participants as part of the 2024 incentive plan[16] Audit and Compliance - The company has not undergone an audit for the third-quarter report[24]

证券代码：300001 证券简称：特锐德 公告编号：2024-074 青岛特锐德电气股份有限公司 关于调整公司 2024 年员工持股计划购买价格的公告 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。 青岛特锐德电气股份有限公司（以下简称"公司"或"特锐德"）于2024年10 月28日召开第五届董事会第二十二次会议，审议通过了《关于调整公司2024年员工 持股计划购买价格的议案》，同意根据相关规定对公司2024年员工持股计划（以下 简称"本员工持股计划"）购买回购股份的价格进行调整。现将有关情况公告如下： 一、本员工持股计划已履行的决策程序和批准情况 1、2024年4月26日，公司召开第五届董事会第十九次会议，审议通过了《关于 公司<2024年员工持股计划（草案）>及其摘要的议案》《关于公司<2024年员工持股 计划管理办法>的议案》《关于提请股东大会授权董事会办理公司2024年员工持股计 划相关事宜的议案》。 同日，公司召开第五届监事会第十五次会议，审议通过了《关于公司<2024年 员工持股计划（草案）>及其摘要的议案》《关于公司<2024年员工持股计划管理办 ...

证券代码：300001 证券简称：特锐德 公告编号：2024-071 青岛特锐德电气股份有限公司 第五届董事会第二十二次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 青岛特锐德电气股份有限公司（以下简称"公司"或"特锐德"）第五届董事会 第二十二次会议于2024年10月28日在青岛市崂山区松岭路336号特锐德办公大楼会 议室以通讯和现场表决相结合的方式召开，会议应到董事9人，实到董事9人，符合 公司章程规定的法定人数。本次会议通知于2024年10月23日以电子邮件形式发出， 会议的通知和召开符合《公司法》与《公司章程》的规定。本次会议由公司董事长 于德翔先生主持，与会董事经过认真审议，形成如下决议： 本议案中的财务报告部分已经董事会审计委员会审议通过。 二、审议通过《关于调整公司2024年员工持股计划购买价格的议案》 表决结果：7票赞成，0票反对，0票弃权，2票回避，本议案获表决通过。 一、审议通过《2024年第三季度报告》 表决结果：9票赞成，0票反对，0票弃权，本议案获表决通过。 具体内容详见与本公告同日刊登在中国证监会指定的创业板信息披露 ...

证券代码：300001 证券简称：特锐德 公告编号：2024-072 青岛特锐德电气股份有限公司 表决结果：3票赞成，0票反对，0票弃权，本议案获表决通过。 经审核，监事会认为董事会编制和审核公司 2024 年第三季度报告的程序符合法律、 行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了上市公司的实际情 况，不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见与本公告同日刊登在中国证监会指定的创业板信息披露网站上的 《2024年第三季度报告》。 特此公告。 青岛特锐德电气股份有限公司 监 事 会 2024 年 10 月 28 日 第五届监事会第十八次会议决议公告 本公司及监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。 青岛特锐德电气股份有限公司（以下简称"公司"或"特锐德"）第五届监事会 第十八次会议于 2024 年 10 月 28 日在青岛市崂山区松岭路 336 号特锐德办公大楼会议 室以现场表决的方式召开，会议应到监事 3 人，实到监事 3 人，符合公司章程规定的法 定人数。本次会议通知于 2024 年 10 月 23 日以电子邮件形式发出，会议 ...

证券代码：300001 证券简称：特锐德 公告编号：2024-070 青岛特锐德电气股份有限公司 关于子公司中标充电设施建设项目的提示性公告 近日，青岛特锐德电气股份有限公司（以下简称"公司"或"特锐德"）控股子 公司特来电新能源股份有限公司（以下简称"特来电"）的全资子公司青岛特来电新 能源科技有限公司（以下简称"特来电科技"）收到中标通知书，特来电科技为和县 县域充电设施补短板建设项目中标人，中标金额约为13,400万元，现将有关情况提示 如下： 一、中标项目概况 项目编号：GN2024-Z21-022 项目名称：和县县域充电设施补短板建设项目 中标总价：13,400.00万元 采购人：和县新速新能源有限公司 代理机构：安徽和州项目咨询有限公司 中标内容：充电桩、充电箱变及相关配套施工工程 二、本次中标项目对公司业绩的影响 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。 本次特来电科技中标和县县域充电设施补短板建设项目，将对和县公共和政府 事业单位停车场进行充电基础设施建设，从而加快和县电动汽车充电网络布局，促进 当地新能源汽车产业发展。同时，本次中标也体 ...