根据公司独立董事自查及其在公司的履职情况，董事会认为公司独立董事薛 安克先生、吴晖先生、来小康先生均能够胜任独立董事的职责要求，其未在公司 担任除独立董事以外的任何职务，也未在公司主要股东公司担任任何职务，与公 司以及主要股东之间不存在妨碍我们进行独立客观判断的关系，不存在影响独立 董事独立性的情况，符合《上市公司独立董事管理办法》《深圳证券交易所上市 公司自律监管指引第 2 号——创业板上市公司规范运作》等法律、法规、规范性 文件及《公司章程》中关于独立董事的任职资格及独立性的相关要求。 浙江南都电源动力股份有限公司 2025 年 4 月 25 日 董事会关于独立董事独立性情况的专项意见 浙江南都电源动力股份有限公司 董 事 会 浙江南都电源动力股份有限公司（以下简称"公司"）董事会根据《上市公 司独立董事管理办法》《深圳证券交易所上市公司自律监管指引第 2 号——创业 板上市公司规范运作》等要求，并结合独立董事出具的《独立董事关于 2024 年 度独立性的自查报告》，就公司在任独立董事的独立性情况进行评估并出具如下 专项意见： ...

浙江南都电源动力股份有限公司 一、独立董事的基本情况 本人来小康，中国国籍，无境外居留权。1959 年 1 月出生，硕士学历，教 授级高工、中国电力科学研究院资深专家、中国电机工程学会会士。1984 年至 今，在中国电力科学研究院工作，曾任电工所所长、新能源与储能运行控制国家 重点实验室副主任。"十三五"能源领域科技发展战略专题研究专家，国家重点 研发计划重点专项智能电网技术与装备实施方案及指南编写专家，项目责任专 家，中国电机工程学会电力储能专业委员会、中国化工学会储能工程专业委员会、 中国能源研究会储能专业委员会副主任委员。主要从事电能存储与转换技术、超 导电力技术和电动汽车技术等前沿学科及技术的研究与开发工作，先后主持并参 与了多项国家项目、国家电网公司项目和奥运科研课题，以及张北储能试验基地 和国家电网公司电池储能技术实验室的建设工作。2016 年起，在储能和智能电 网领域，任"国家重点研发计划重点专项十余个项目的责任专家；参加国家电网 公司储能与电动汽车领域的指南编制工作及项目督导工作。截止目前，除担任公 司第八届董事会独立董事外，还担任许昌智能继电器股份有限公司独立董事。 本人在公司未担任除独立董 ...

浙江南都电源动力股份有限公司 独立董事 2024 年度述职报告 大家好！本人作为浙江南都电源动力股份有限公司（以下简称"公司"）的 独立董事，在2024年度严格按照《中华人民共和国公司法》《中华人民共和国证 券法》《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律 监管指引第2号—创业板上市公司规范运作》等相关法律法规和规范性文件及《公 司章程》《独立董事工作制度》等公司制度的规定，忠实履行了独立董事的职责， 以勤勉和审慎的态度，行使了公司赋予独立董事的权力。积极参与了2024年度的 所有相关会议，对会议中的各项议案进行了认真的审议，并对公司相关事项提出 专业意见。 现将 2024 年度本人履行独立董事职责的情况向各位股东及股东代表汇报如 下： 一、独立董事的基本情况 本人吴晖，中国国籍，无境外居留权。1960 年 4 月出生。浙江工商大学财 会学院教师，硕士，会计学教授，硕士研究生导师。现任浙江工商大学教学督导 组副组长、曾担任浙江工商大学会计系主任、青年教师指导室主任。截止目前， 除担任公司第八届董事会独立董事外，还担任杭州格林达电子材料股份有限公 司、龙芯中科技术股份有限公司的独立董事。 ...

| 名称 | 持有数量(万股) | 占总股本比例(%) | 增减情况(万股) | | --- | --- | --- | --- | | 杭州南都电源（300068）有限公司 | 7576.63 | 8.86 | 不变 | | 朱保义 | 1404.93 | 1.64 | 不变 | | 香港中央结算有限公司 | 1367.81 | 1.60 | 55.93 | | 上海益都实业有限公司 | 1318.88 | 1.54 | 不变 | | 俞慧军 | 829.23 | 0.97 | 374.33 | | 南方中证1000ETF | 721.27 | 0.84 | -288.04 | | 朱保德 | 627.87 | 0.73 | 不变 | | 上海南都集团有限公司 | 554.34 | 0.65 | 不变 | | 周伟青 | 510.02 | 0.60 | 新进 | | 华夏中证1000ETF | 386.44 | 0.45 | -159.45 | | | 较上个报告期退出前十大股东有 | | | | 朱晓雄 | 622.46 | 0.75 | 退出 | 三、分红送配方案情况 一、主要会计数据和财务指标 | 报 ...

南都电源（300068）公告，2024年营业收入为79.84亿元，同比下降45.56%。归属于上市公司股东的净 亏损14.97亿元，去年同期净利润3597.6万元。基本每股收益-1.74元/股。公司计划不派发现金红利，不 送红股，不以公积金转增股本。 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,138,941,661.85, a decrease of 61.81% compared to ¥2,982,559,661.03 in the same period last year[5] - The net profit attributable to shareholders was -¥266,313,423.54, representing a decline of 422.47% from ¥82,585,785.32 year-on-year[5] - The company's basic and diluted earnings per share were both -¥0.30, a decrease of 350.00% from ¥0.12 in the same period last year[5] - Net profit for the current period is a loss of ¥279,453,451.88, compared to a profit of ¥76,040,779.51 in the previous period[28] - The total comprehensive income for the current period is a loss of ¥277,220,052.65, compared to a gain of ¥76,666,083.35 in the previous period[29] Cash Flow - The net cash flow from operating activities was -¥295,390,028.24, a decrease of 35.64% compared to -¥217,768,013.24 in the previous year[5] - The net cash flow from investment activities was -330,997,247.38, resulting in a total cash outflow of 817,198,882.31[31] - The total cash inflow from financing activities amounted to 2,921,998,185.26, while cash outflow was 2,863,642,906.96, leading to a net cash flow of 58,355,278.30[31] - The company reported a net decrease in cash and cash equivalents of -563,911,102.76, contrasting with an increase of 89,215,105.43 in the previous period[31] Assets and Liabilities - The total assets at the end of the reporting period were ¥19,041,829,587.65, an increase of 4.04% from ¥18,302,696,411.54 at the end of the previous year[5] - Total current liabilities reached ¥12,185,635,236.59, compared to ¥11,067,975,694.87 at the beginning of the period[24] - The total liabilities increased to ¥15,450,766,390.09 from ¥14,485,658,044.85, reflecting a rise of 6.7%[25] - The total equity attributable to shareholders decreased to ¥3,779,307,553.64 from ¥3,992,142,694.43, a decline of 5.3%[25] Operating Costs and Expenses - The company's operating costs decreased by 58.58% to ¥111,408.51 million, mainly due to the decline in operating revenue[12] - Total operating costs for the current period are ¥1,429,194,112.70, down 53.2% from ¥3,051,363,543.06 in the previous period[27] - Research and development expenses for the current period are ¥100,129,002.31, an increase of 6.5% compared to ¥94,173,275.46 in the previous period[27] Shareholder Information - The total number of shares held by the top 10 unrestricted shareholders was 75,766,340, with the largest shareholder being Hangzhou Nandu Power Co., Ltd.[19] - The company’s repurchase account held 9,641,300 shares, making it the fourth largest shareholder[19] Other Financial Metrics - The investment income for the period was -¥484.69 million, a decrease of 114.27% compared to the previous year, attributed to gains from equity disposals in the prior year[13] - The company reported a significant increase in deferred tax expenses, with income tax expenses rising by 4888.12% to ¥1,815.47 million[15] - Other comprehensive income after tax for the current period is ¥2,233,399.23, up from ¥625,303.84 in the previous period[29]

Financial Performance - The company's operating revenue for 2024 was ¥7,983,750,953.19, a decrease of 45.56% compared to ¥14,665,629,021.19 in 2023[21]. - The net profit attributable to shareholders for 2024 was -¥1,496,826,770.00, representing a decline of 4,260.62% from ¥35,976,038.70 in 2023[21]. - The net cash flow from operating activities for 2024 was ¥210,036,789.39, down 66.73% from ¥631,328,984.00 in 2023[21]. - The basic earnings per share for 2024 was -¥1.74, a decrease of 4,450.00% compared to ¥0.04 in 2023[21]. - The total assets at the end of 2024 were ¥18,302,696,411.00, an increase of 0.54% from ¥18,204,725,000.00 at the end of 2023[21]. - The net assets attributable to shareholders at the end of 2024 were ¥3,992,142,690.00, a decrease of 26.37% from ¥5,422,094,150.00 at the end of 2023[21]. - The company reported a significant non-recurring loss of ¥236,824,917.07 in 2024, compared to a loss of -¥8,877,762.31 in 2023[29]. - The company experienced a quarterly revenue decline, with Q4 2024 revenue dropping to ¥122,215,872.03 from ¥2,982,559,661.03 in Q1 2024[24]. Revenue Decline Factors - The recycling segment experienced a significant decline in revenue due to high waste battery prices and uncertain local subsidy policies, leading to a substantial drop in operating income[4]. - Lithium battery product sales revenue decreased sharply due to intensified industry competition and a significant drop in raw material prices, with the company opting to forgo low-margin orders, resulting in underperformance in order acquisition and actual shipments[4]. - The revenue from the power storage segment was approximately ¥1.73 billion, accounting for 21.62% of total revenue, down 59.31% from ¥4.24 billion in the previous year[63]. - The company reported a total revenue of 798,375.10 million yuan during the reporting period, indicating a significant decline due to increased competition and falling sales prices in the lithium battery sector[47]. Strategic Direction and Business Focus - The company plans to continue its strategic direction of "three integrations and one fusion" (industry integration, sales-service integration, global integration, and ecological integration) to promote new energy storage and communication data center storage[6]. - The company is focusing on expanding its market presence through strategic partnerships and potential acquisitions in the technology sector[112]. - The company has shifted its business focus to the energy storage and lithium battery sectors, successfully completing a strategic and business structure transformation[126]. - The company aims to enhance its profitability and long-term growth potential through continuous optimization of its product offerings and solutions in key energy storage sectors[52]. Research and Development - The company has established a strong research and development team, with over 370 global safety certifications, enhancing its competitive edge in the energy storage market[48]. - Research and development expenses in 2024 amount to approximately ¥449.91 million, a decrease of 5.60% compared to ¥476.60 million in 2023[77]. - The company has made significant progress in developing new products, including large-capacity energy storage batteries and sodium-ion batteries, which are expected to enhance its competitive edge in the energy storage market[78]. - The company has authorized over 60 invention patents and transferred several of them, showcasing its strong focus on innovation and technology development[154]. Operational Challenges - The company is facing challenges in its lead recovery business due to supply-demand uncertainties and local subsidy policies, leading to a reduction in production[47]. - The company is facing challenges in the supply-demand relationship and local subsidy policies, leading to production cuts in recycled lead products[72]. - The company has reported a significant drop in sales volume for lithium-ion battery products, down 38.78% to 2.81 GWh[69]. - The production volume of lead-acid battery products decreased by 18.63% to 2.49 GWh, while sales volume fell by 26.82% to 2.62 GWh[70]. Cash Flow and Investment - The total cash inflow from operating activities for 2024 was ¥10,686,892,639.88, a decrease of 38.51% compared to 2023, primarily due to a reduction in operating revenue[82]. - The total cash outflow from operating activities for 2024 was ¥10,476,855,850.49, down 37.45% year-over-year, also attributed to decreased operating revenue and corresponding reductions in procurement expenses[83]. - The total cash inflow from investing activities for 2024 reached ¥603,179,358.53, an impressive increase of 453.44% year-over-year, driven by the disposal of equity in certain investment companies and the maturity of structured deposits[83]. - The total cash inflow from financing activities for 2024 was ¥8,306,151,642.48, up 32.87% from 2023, primarily due to new loans for fixed asset investments and increased loan turnover[84]. Market Position and Recognition - The company ranked third in the "2024 Global New Energy Enterprises Top 500" and third in the "2024 China Energy Storage System (DC Side) Global Market Shipment Volume TOP10" according to GGII[35]. - The company has established long-term partnerships with major domestic internet companies and service providers, securing the second position in Alibaba's annual procurement and becoming a preferred supplier for major data centers in the U.S.[38]. - The company has received over 370 global safety certifications for its energy storage products, reflecting its commitment to high standards and quality[35]. Environmental and Compliance - The company and its subsidiaries strictly complied with various environmental protection laws and standards during the reporting period[199]. - All construction projects met environmental impact assessment and pollutant discharge permit requirements[200]. - The company has been listed as a key pollutant discharge unit by local ecological environment departments[198]. Shareholder Engagement and Governance - The company held a temporary shareholders' meeting on January 10, 2024, with a participation rate of 33.61%[143]. - The annual shareholders' meeting on May 21, 2024, had a participation rate of 17.76%[144]. - The company approved a proposal to transfer part of its equity in an associate company during the second temporary shareholders' meeting[144]. - The company has established a performance-oriented salary system, aligning compensation with job value, employee performance, and company growth[177].

瑞财经 刘治颖 4月23日，南都电源(SZ300068)公告，为深入推进公司全球化战略，进一步提升公司品牌形象及知名度，提高公司综合竞争力，同时打造国际 化资本运作平台，提升公司治理透明度和规范化水平，公司目前正在筹划发行境外股份(H股)，并在相关联交所上市事项。 南都电源表示，公司正在与相关中介机构就本次H股上市的具体推进工作进行商讨，相关细节尚未确定，本次H股上市不会导致公司控股股东和实际控制人 发生变化。 南都电源成立于1997年12月，长期专注于储能技术、产品的开发与应用，面向全球新型电力储能和工业储能、民用储能领域客户，为其提供以锂电为主、铅 电为辅的产品、系统集成及服务。公司法定代表人为朱保义，注册资本为8.98亿元。 业绩方面，2021年至2023年，南都电源营业收入分别为118.48亿元、117.49亿元、146.66亿元，归母净利润分别为-13.7亿元、3.33亿元、3597.6万元。 根据业绩预告显示，南都电源预计2024年归属于上市公司股东的净亏损12亿元–15.6亿元；扣除非经常性损益后的净亏损14亿元–17.6亿元；营业收入84亿 元-95亿元；扣除后营业收入82亿元-93亿元。 | ...

Core Viewpoint - The announcement of Nandu Power's plan to issue H-shares and list on the Hong Kong Stock Exchange is seen as a critical step in the company's globalization strategy, despite facing significant losses in 2024 [1][5] Financial Performance - Nandu Power expects a net loss of 1.2 billion to 1.56 billion yuan for the year 2024, with a non-recurring loss projected to be between 1.4 billion and 1.76 billion yuan, marking a historical high [1] - The company's revenue for 2024 is anticipated to be between 8.4 billion and 9.5 billion yuan, representing a substantial decline compared to previous years [2] - The fourth quarter of 2024 saw a significant drop in performance, primarily due to losses in both the lead recycling and lithium battery storage sectors [2][3] Business Challenges - The lead recycling business, once a major profit source, faced a sharp decline due to reduced supply of used batteries and high procurement costs, leading to a drastic drop in gross profit margins [2] - Increased competition in the lithium battery market and a significant drop in raw material prices resulted in a rapid decrease in sales revenue for lithium products [3] - The company faced delays in overseas orders and chose to forgo low-margin orders, leading to underutilization of production capacity and further losses [3] Financial Risks - As of September 2024, Nandu Power's total liabilities reached 14.516 billion yuan, with a debt-to-asset ratio of 73.26%, significantly higher than the industry average [4] - High levels of accounts payable and short-term loans account for over 70% of current liabilities, while cash reserves barely cover interest expenses [4] - The company has also made provisions for inventory and fixed asset impairments due to ongoing legal disputes and operational challenges [4] Strategic Moves - The planned IPO in Hong Kong is positioned as a key step for global expansion, with intentions to raise funds for overseas market development and liquidity enhancement [5] - The company aims to leverage the Hong Kong capital platform to enter higher-priced markets in Europe and North America, hoping to escape domestic price wars [5] - However, market analysts express skepticism about the feasibility of this strategy, given the current challenges in the storage industry [5] Industry Context - Nandu Power's situation reflects broader challenges within the Chinese energy storage industry, including risks associated with technology choices and high barriers in overseas markets [6] - The industry is shifting from a focus on scale expansion to lean operations, emphasizing the importance of strategic focus and technological innovation for survival [6] - The outcome of Nandu Power's IPO could serve as a significant reference point for the globalization path of the Chinese energy storage sector [6]

1994 年成立的 南都电源 已经在电池行业混了三十年之久，经历多轮浮浮沉沉，自然懂得一个道理：越是行业情况不好，越要用产品征服市 场。 南都电源也准备开启 A+H 模式。 起点锂电从南都电源公众号获悉，目前南都电源正式启动港股上市事项，此次赴港上市不仅是资本运作的突破，更是迈向国际化、实现跨越式 发展的关键一步。 目前该计划尚未有更多细节披露，亦 不会导致公司控股股东和实际控制人发生变化 ， 具体方案确定后需提交公司董事会和股东大会审议， 再去相关 监管机构 进行 审核。 今年锂电企业港股上市成为一股风潮，一批 A 股上市失败的企业转而港股上市，另一批已经 A 股上市的企业希望开始 A+H 模式，还有个别 公司拆分旗下子公司进行 A+H ，且这一势头也蔓延到了其他行业，据统计 近 40 家 A 股公司 正在筹划双上市目标。 01 不惧业绩下滑，频繁迭代产品 所以今年以来，南都电源的产品迭代异常频繁。 首先来看储能领域， 4 月 10 日南都电源在公开场合全新发布标准 20 尺单箱 8.338MWh 储能系统 Center L Max ，引领储能行业进入 8MWh 时代。 Center L Max 8.338 ...