证券代码：300014 证券简称：亿纬锂能 公告编号：2025-054 惠州亿纬锂能股份有限公司 关于控股股东部分股份解除质押及质押的公告 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。 截至本公告披露日，公司控股股东、实际控制人及其一致行动人累计质押股份数量为402,540,000 1 / 2 股东 名称 持股数量 （股） 持股比 例 本次质押前 质押股份数 量（股） 本次质押后 质押股份数 量（股） 占其所持 股份比例 占公司总 股本比例 已质押股份情况 未质押股份情况 已质押股份 限售和冻结 数量 占已质 押股份 比例 未质押股份 限售和冻结 数量 占未质 押股份 比例 亿纬 控股 655,064,787 32.02% 354,990,000 353,630,000 53.98% 17.29% 38,000,000 10.75% 9,656,870 3.20% 刘金成 77,430,681 3.79% 38,710,000 38,710,000 49.99% 1.89% 26,301,764 67.95% 31,771,247 82.05% 股，占其所持股 ...

| 证券代码：300014 | 证券简称：亿纬锂能 | 公告编号：2025-055 | | --- | --- | --- | | 债券代码：123254 | 转债简称：亿纬转债 | | 惠州亿纬锂能股份有限公司 关于亿纬转债预计满足转股价格修正条件的提示性公告 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： 1、证券代码：300014，证券简称：亿纬锂能 5、根据《深圳证券交易所上市公司自律监管指引第 15 号——可转换公司债券》 规定，"上市公司应当在预计触发转股价格修正条件的 5 个交易日前及时披露提示性公 告。"自 2025 年 3 月 24 日至 2025 年 4 月 18 日，公司股票在连续 30 个交易日中已有 10 个交易日的收盘价低于当期转股价格的 85%，预计触发转股价格向下修正条件。若 触发条件，公司将于触发条件当日召开董事会审议决定是否修正转股价格，并及时履 行信息披露义务。 一、可转换公司债券基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）《关于同意惠州亿纬锂能 股份有限公司向不特定对象发行可转换公司债券注册的批 ...

证券代码：300014 证券简称：亿纬锂能 公告编号：2025-043 一、重要提示 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投资者 应当到证监会指定媒体仔细阅读年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 容诚会计师事务所（特殊普通合伙）对本年度公司财务报告的审计意见为：标准的无保留意见。 非标准审计意见提示 □适用 √不适用 公司上市时未盈利且目前未实现盈利 □适用 √不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 √适用 □不适用 □适用 √不适用 二、公司基本情况 1、公司简介 ■ 2、报告期主要业务或产品简介 公司的主要业务是消费电池（包括锂原电池、小型锂离子电池、圆柱电池）、动力电池（包括新能源汽 车电池及其电池系统）和储能电池的研发、生产和销售。 （1）消费电池行业 消费电池主要服务于消费与工业领域。根据Mordor Intelligence数据，全球智能电表市场出货量规模预 计将从2024年的1.62亿台增长到2029年的2.36亿台，CAGR达 7.8%。 智慧医疗方面，根据灼识咨询数据，全球糖尿病管理医疗器械市场规模预计 ...

Investment Rating - The investment rating for the industry is "Outperform" [1] Core Insights - The overall automotive market in China is maintaining a good development trend, particularly in the new energy vehicle (NEV) sector, which continues to show high growth [4][11] - In March 2025, automotive production and sales reached 3.006 million and 2.915 million units, respectively, with year-on-year growth of 11.9% and 8.2% [11] - The NEV market in China saw production and sales of 1.277 million and 1.237 million units in March 2025, representing year-on-year growth of 47.9% and 40.1% [40][45] Summary by Sections 1. Automotive Market - In March 2025, the total automotive production and sales in China were 3.006 million and 2.915 million units, with a month-on-month increase of 42.9% and 37% [11] - From January to March 2025, total automotive sales reached 7.47 million units, showing a year-on-year increase of 11.2% [11] - The domestic automotive sales in March were 2.409 million units, with a year-on-year increase of 9.9% [16] 2. New Energy Vehicle Market - Global NEV sales reached 1.217 million units in February 2025, a year-on-year increase of 49%, with pure electric vehicle sales at 814,000 units, up 58% [5][32] - In March 2025, NEV sales in China accounted for 42.4% of total automotive sales, with cumulative sales from January to March reaching 3.182 million units, a year-on-year increase of 50.4% [45][49] - The market share of NEVs in China reached 19% globally, with significant growth driven by previous price wars in the Chinese market [5][32] 3. Lithium Battery Market - In March 2025, the total production of power and other batteries in China was 118.3 GWh, with a year-on-year increase of 54.3% [58] - The cumulative production from January to March 2025 was 326.3 GWh, showing a year-on-year growth of 74.9% [58] - The export of power and other batteries in March reached 23.0 GWh, with a year-on-year increase of 75.3% [65]

Investment Rating - The report maintains a "Buy" rating for the company, expecting significant profit recovery in the battery segment [5]. Core Insights - The company reported a revenue of 48.6 billion RMB for 2024, a slight decrease of 0.3% year-on-year, while the net profit attributable to the parent company increased by 14.8% to 3.16 billion RMB [2]. - The company anticipates strong growth in battery shipments, projecting a total of 130 GWh for 2025, with 50 GWh from power batteries and 80 GWh from energy storage batteries [4]. - The company is expected to achieve net profits of 5.38 billion RMB, 7.20 billion RMB, and 9.08 billion RMB for the years 2025 to 2027, respectively, with corresponding P/E ratios of 15, 11, and 9 [5]. Performance Summary - In Q4, the company achieved a revenue of 14.57 billion RMB, marking a 10% increase year-on-year but an 18% decrease quarter-on-quarter [2]. - The gross profit margin for 2024 was reported at 17.4%, an increase of 0.4 percentage points year-on-year, while the net profit margin was 6.5%, up by 0.9 percentage points [3]. - The company’s battery segment revenues for 2024 were 19.2 billion RMB for power batteries (down 20%), 19.0 billion RMB for energy storage batteries (up 16%), and 10.3 billion RMB for consumer batteries (up 23%) [4]. Business Segment Analysis - Power battery shipments reached 30.29 GWh in 2024, an 8% increase year-on-year, while energy storage battery shipments surged by 92% to 50.45 GWh, securing the second-largest global market share [4]. - The consumer battery segment achieved full production and sales, with monthly sales exceeding 10 million units, particularly in niche markets such as electric tools and smart mobility [4]. Financial Projections - The company’s revenue is projected to grow significantly in the coming years, with estimates of 69.4 billion RMB in 2025, 85.0 billion RMB in 2026, and 103.3 billion RMB in 2027, reflecting growth rates of 42.75%, 22.48%, and 21.51% respectively [8]. - The diluted earnings per share are expected to rise from 1.99 RMB in 2024 to 4.44 RMB by 2027, indicating a strong upward trend in profitability [8].

业绩简评 4 月 17 日，公司发布 24 年报。24 年公司收入 486 亿元，同比- 0.3%，扣非归母净利润 31.6 亿元，同比+14.8%；单 Q4，公司收入 145.7 亿元，同比+10%，环比-18%，扣非归母净利润 6.6 亿元，同 比+10%，环比-34%。 经营分析 1、剔除减值、年终奖等影响，经营利润环比稳健。24 年公司毛利 率 17.4%，同比+0.4pct，四费率 10.7%，同比+0.2pct，扣非归母 净利率 6.5%，同比+0.9pct；单 Q4 公司毛利率 17.5%，环比-1.5pct， 四费率 10.1%，环比-0.6pct，资产+信用减值 2.75 亿元，环比+2.5 亿，扣非归母净利率 4.5pct，环比-2.4pct。我们测算剔除减值影 响、年终奖计提、股权激励计提冲回影响，经营业绩较 Q3 环比稳 健。 2、分业务：24年公司动力/储能/消费电池收入分别为192/190/103 亿元，同比-20%/+16%/+23%，毛利率分别为 14.2%/14.7%/27.6%， 同比-0.2pct/-2.3pct/+3.9pct，相较 H1，H2 动力电池从 11%提升 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The Q4 performance of the company met market expectations, with a total revenue of 48.6 billion yuan in 2024, a slight decrease of 0.3% year-on-year, and a net profit attributable to shareholders of 4.1 billion yuan, an increase of 0.6% year-on-year [7] - The energy storage segment continues to experience high demand, with a significant increase in shipments of power storage batteries, reaching 80.7 GWh in 2024, a year-on-year increase of 49% [7] - The company is expected to maintain full production and sales in the energy storage sector, with total shipments projected to reach 115 GWh in 2025, representing a 40% year-on-year growth [7] - The company has revised down its net profit forecasts for 2025 and 2026 due to lower-than-expected demand, now estimating 5.32 billion yuan and 7.26 billion yuan respectively, while introducing a new forecast for 2027 at 9.19 billion yuan [7] Financial Summary - Total revenue for 2024 is projected at 48.6 billion yuan, with a year-on-year growth rate of -0.35% [8] - The net profit attributable to shareholders for 2024 is estimated at 4.08 billion yuan, with a year-on-year growth rate of 0.63% [8] - The earnings per share (EPS) for 2024 is projected to be 1.99 yuan, with a price-to-earnings (P/E) ratio of 19.94 [8] - The company’s gross margin is expected to be 17.41% in 2024, with a net profit margin of 8.38% [8]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The Q4 performance of the company met market expectations, with 2024 revenue at 48.6 billion yuan, a slight decrease of 0.3% year-on-year, and a net profit attributable to shareholders of 4.1 billion yuan, an increase of 0.6% year-on-year [7] - The energy storage segment continues to experience high demand, with a significant increase in shipments of power storage batteries, reaching 80.7 GWh in 2024, a year-on-year increase of 49% [7] - The company is expected to maintain full production and sales in the energy storage sector, with overall shipments projected to reach 115 GWh in 2025, a growth of 40% [7] - The company has revised down its net profit forecasts for 2025 and 2026 due to lower-than-expected demand, now estimating 5.32 billion yuan and 7.26 billion yuan respectively [7] Financial Summary - Total revenue for 2023 is projected at 48.8 billion yuan, with a year-on-year growth of 34.38% [1] - The net profit attributable to shareholders for 2024 is expected to be 4.1 billion yuan, with a year-on-year growth of 0.63% [1] - The earnings per share (EPS) for 2024 is estimated at 1.99 yuan, with a price-to-earnings (P/E) ratio of 19.94 [1] - The company’s gross margin for 2024 is projected at 17.41%, with a net profit margin of 8.38% [8]

Group 1 - The actual controller, chairman, and CEO of Juran Smart Home, Wang Linpeng, has been detained, but the company's operations remain normal and unaffected [1] - Juran Smart Home reported a total revenue of 12.966 billion yuan in 2024, a decrease of 4.04% year-on-year, and a net profit of 883 million yuan, down 32.08% year-on-year, primarily due to economic fluctuations and increased competition in the home furnishing market [3][4] Group 2 - China Bank plans to raise up to 165 billion yuan through a private placement of A-shares, with the funds aimed at increasing its core tier one capital [4] - The issuance price for China Bank's shares is set at 6.05 yuan per share, which is 80% of the average trading price over the previous 20 trading days [4] - The Bank of Communications also plans to raise up to 120 billion yuan through a private placement, with the funds also designated for core tier one capital [5] Group 3 - SANY Heavy Industry reported a total revenue of 78.383 billion yuan in 2024, an increase of 5.9% year-on-year, and a net profit of 5.975 billion yuan, up 31.98% year-on-year [6][7] - The company's international main business revenue reached 48.513 billion yuan, accounting for 63.98% of total revenue, with significant growth in various regions [6][8] - SANY Heavy Industry has established 37 lighthouse factories and is recognized for its advanced smart manufacturing capabilities [8] Group 4 - East China Pharmaceutical achieved a total revenue of 41.906 billion yuan in 2024, a growth of 3.16%, and a net profit of 3.512 billion yuan, up 23.72% year-on-year [10][11] - The company has a robust pipeline of over 80 innovative drugs, focusing on diabetes and oncology [11][12] Group 5 - EVE Energy reported a total revenue of 48.615 billion yuan in 2024, a slight decrease of 0.35%, with a net profit of 4.076 billion yuan, an increase of 0.63% [13][14] - The company has seen significant growth in its energy storage business, with a shipment volume of 50.45 GWh, a year-on-year increase of 91.90% [15] Group 6 - China Unicom reported a revenue of 103.35 billion yuan in Q1 2025, a growth of 3.9%, and a net profit of 2.61 billion yuan, up 6.5% year-on-year [19] - Lens Technology achieved a revenue of 17.063 billion yuan in Q1 2025, a growth of 10.10%, with a net profit of 429 million yuan, up 38.71% year-on-year [20] Group 7 - Fuyao Glass reported a revenue of 9.910 billion yuan in Q1 2025, a growth of 12.16%, with a net profit of 2.030 billion yuan, up 46.25% year-on-year [21] - Zhuye Group reported a revenue of 4.803 billion yuan in Q1 2025, a growth of 8.50%, with a net profit of 277 million yuan, up 74.07% year-on-year [23] Group 8 - Cailong Technology reported a net profit growth of 87.55% in 2024, with total revenue of 11.664 billion yuan [32] - Ziyan Food reported a revenue of 3.363 billion yuan in 2024, with a net profit growth of 4.5% [33] Group 9 - Shunyi Environmental reported a revenue of 12.678 billion yuan in 2024, with a net profit growth of 41.58% [35] - Shougang Group turned a profit in Q1 2025, reporting a revenue of 26.533 billion yuan, down 10.18%, with a net profit of 328 million yuan [36] Group 10 - Keda Li reported a revenue of 12.030 billion yuan in 2024, with a net profit growth of 22.55% [38] - Betta Pharmaceuticals reported a revenue of 2.892 billion yuan in 2024, with a net profit growth of 15.67% [40] Group 11 - New Australia reported a revenue of 4.841 billion yuan in 2024, with a net profit growth of 5.96% [41] - Fawer reported a revenue of 16.468 billion yuan in 2024, with a net profit growth of 11.93% [42] Group 12 - Zhongwei Company reported a revenue of 9.065 billion yuan in 2024, with a net profit decrease of 9.53% [43] - Changying Precision reported a revenue of 16.934 billion yuan in 2024, with a net profit growth of 800% [44] Group 13 - Stanley reported a revenue of 10.263 billion yuan in 2024, with a net profit growth of 17.89% [45] - Puyang reported a revenue of 5.192 billion yuan in 2024, with a net profit decrease of 45.48% [46] Group 14 - Huangshi Group received a notice of administrative penalty for failing to disclose significant contracts, with potential fines for the company and responsible individuals [47] - Baosteel announced plans to acquire a 49% stake in Maanshan Steel through a combination of cash purchases and capital increases, with an estimated total investment of 9 billion yuan [48][49] Group 15 - Shengquan Group reported a revenue of 2.459 billion yuan in Q1 2025, with a net profit growth of 50.46% [50]

外资态度来看，本期较上一季度持股减少的外资基金共计1个，即香港中央结算有限公司，持股减少占 比达0.27%。 公募基金方面，本期较上一期持股增加的公募基金共计45个，主要包括华安创业板50ETF、广发创业板 ETF、景顺长城创业板50ETF、汇丰晋信研究精选混合、创50ETF等，持股增加占比达0.38%。本期较上 一季度持股减少的公募基金共计119个，主要包括东方新能源汽车主题混合、国投瑞银新能源混合A、 华泰柏瑞沪深300ETF、华夏蓝筹混合(LOF)A、国投瑞银产业趋势混合A等，持股减少占比达1.55%。本 期较上一季度新披露的公募基金共计643个，主要包括华夏沪深300ETF、嘉实沪深300ETF、汇添富价 值精选混合、易方达中证科创创业50ETF、农银新能源混合A等。本期较上一季未再披露的公募基金共 计44个，主要包括中庚价值先锋股票、广发创新升级混合、招商产业精选股票A、中庚小盘价值股票、 集合-中金新锐A等。 2025年4月18日，亿纬锂能（维权）(300014.SZ)发布2024年年度报告。截至2025年4月17日，共有831个 机构投资者披露持有亿纬锂能A股股份，合计持股量达11.66亿股，占 ...