证券代码：300438 证券简称：鹏辉能源 公告编号：2024-026 广州鹏辉能源科技股份有限公司 关于第二期限制性股票激励计划首次授予的限制性股票第三个解 锁期股份上市流通的提示性公告 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： 1、第二期限制性股票激励计划第三个解锁期可解锁的股份数量为 328,520 股，占 截至 2024 年 5 月 6 日公司总股本的 0.0653%。 2、第二期限制性股票激励计划第三个解锁期符合解锁条件的激励对象人数为 133 人。 3、本次限制性股票的上市流通日为：2024 年 5 月 10 日。 4、本次实施的股权激励计划与已披露的股权激励计划不存在差异。 5、2021 年 4 月 26 日，公司第四届董事会第十三次会议、第四届监事会第十一次会 议审议通过了《关于回购注销部分限制性股票的议案》《关于调整限制性股票激励计划 回购价格的议案》，公司独立董事就相关事项出具了独立意见。 6、2021 年 5 月 20 日，公司 2020 年度股东大会审议通过了《关于回购注销部分限 制性股票的议案》。 一、第二期限制性股 ...

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Views - The company's 2023 revenue was 6.932 billion yuan, a year-on-year decrease of 23.54%, with a net profit attributable to shareholders of 0.43 billion yuan, down 93.14% year-on-year [1] - The company is experiencing pressure on performance due to intensified competition in the energy storage battery market and inventory reduction in household storage [1] - The first quarter of 2024 shows signs of improvement, with revenue of 1.597 billion yuan, a year-on-year decrease of 36.00%, but a quarter-on-quarter increase of 33.86% [1] - The company has a comprehensive product matrix in energy storage and is optimistic about the future of sodium batteries [1] - The company is expanding its global market presence with offices in the US, Germany, Japan, and Indonesia, and has established partnerships to enhance its market reach [1] Summary by Sections Financial Performance - In 2023, the company's lithium-ion battery revenue was 6.397 billion yuan, with a gross margin of 15.75%, down 2.28 percentage points from the previous year [1] - The company recorded a net profit margin of 0.96% in 2023, a decrease of 6.20 percentage points year-on-year [1] - The forecast for net profit attributable to shareholders for 2024 and 2025 has been revised down to 0.427 billion yuan and 0.595 billion yuan, respectively, reflecting a 64% reduction [1] Product Development - The company has developed a complete product matrix for large cylindrical cells, covering capacities from 6Ah to 50Ah, and has launched a 320Ah large-capacity energy storage cell with a cycle life of 12,000 times [1] - Sodium battery products have been developed with energy densities exceeding 145Wh/kg [1] Market Expansion - The company has established a presence in key international markets, including a 1GWh supply for a renewable energy project in Australia and strategic partnerships in Morocco and North America [1] - The annual production capacity for lithium batteries reached 6.772 billion Ah in 2023, with a utilization rate of 61.54% [1]

Investment Rating - The investment rating for the company is currently set at "Buy" with a target price of 23.96 CNY [1]. Core Views - The company has launched innovative technologies, including the S24 electrode optimization technology, which enhances battery life by over 20%. It has also begun mass production of the 314Ah Penghui Energy self-developed wind power battery cell, marking a significant advancement in the large storage sector [3][19]. - The company faced a significant decline in net profit due to product price reductions and inventory destocking by downstream enterprises, with a net profit margin of 0.96% in 2023, down 6.2 percentage points year-on-year [19]. - The company is expanding its overseas market presence, having established offices in North America, Europe, Japan, and Indonesia, and a factory in Vietnam. Strategic partnerships have been formed to penetrate the African and North American energy storage markets [9][20]. Financial Performance and Forecast - In 2023, the company reported revenue of 6.932 billion CNY, a year-on-year decrease of 23.54%, and a net profit of 43 million CNY, down 93.14% year-on-year. For Q1 2024, revenue was 1.597 billion CNY, a 36% decline year-on-year but a 33.86% increase quarter-on-quarter [7]. - Revenue forecasts for 2024-2026 are projected at 7.456 billion CNY, 8.264 billion CNY, and 9.669 billion CNY, with corresponding growth rates of 7.56%, 10.83%, and 17.00%. Net profits are expected to rebound significantly, reaching 413 million CNY, 539 million CNY, and 665 million CNY, with growth rates of 857.68%, 30.68%, and 23.23% respectively [21]. - The company’s earnings per share (EPS) are projected to be 0.82 CNY, 1.07 CNY, and 1.32 CNY for the years 2024, 2025, and 2026, with price-to-earnings (P/E) ratios of 27, 21, and 17 respectively [21]. Market Position - The company ranks among the top six global suppliers of energy storage batteries, with its household and commercial energy storage products being in the top three globally [19]. - The company is focusing on capacity construction to meet order demands, which is expected to drive continuous growth in performance [19].

电力设备/电池 营收利润短期承压，静待行业需求回暖 投资评级：买入（维持） 股价走势图 数据来源：聚源 《"质量回报双提升"行动方案彰显公 司长期发展信心—公司信息更新报 告》-2024.2.5 受行业库存挤压及竞争加剧影响，业绩相对承压 行业去库叠加竞争加剧影响，公司主营营收、盈利能力均有所下滑 风险提示：原材料持续跌价计提相应减值；行业需求不及预期。 开 源 证 券 证 券 研 究 报 告 公司信息更新报告 公 司 研 究 附：财务预测摘要 公司信息更新报告 分析师承诺 | --- | --- | --- | --- | |----------|--------|-----------------|--------------------------------------------| | | 评级 | | 说明 | | | 买入（ | Buy ） | 预计相对强于市场表现 20% 以上； | | 证券评级 | 增持（ | outperform ） | 预计相对强于市场表现 5% ～ 20% ； | | | 中性（ | Neutral ） | 预计相对市场表现在－ 5% ～＋ 5% 之间波动； | | ...

证 券 研 究 报 告 股价:22.5元 公司发布2023年年度报告和2024年一季报。2023年，公司实现营业收入 69.32亿元，同比减少23.5%；归母净利润0.43亿元，同比减少93.1%。2024 年第一季度，公司实现营业收入15.97亿元，同比减少36.0%，环比增长 33.9%；归母净利润0.16亿元，同比减少91.0%，环比增长107.0%。公司将向 全体股东每10股派发现金红利0.6元（含税），送红股0股（含税），以资本公 积金向全体股东每10股转增0股。 盈利能力方面，激烈竞争下毛利率、净利率下滑明显。1）毛利率：公司 发费用具有一定刚性，导致管理费用和研发费用率提升；另一方面，汇率变动导致财务费用提升。2024年第一季度，公司 四费率共计11.60%。3）净利率：2023年公司扣非后销售净利率0.84%，较 2022年（6.25%）大幅减少，除了毛利率减少 和费用率增加外，存货跌价也对净利率有较大影响。2023年公司计提了2.07亿元资产减值损失，占营业收入的2.98%。 2024年第一季度，公司扣非后销售净利率进一步下降至0.27%。 风险提示：1. 全球储能需求增长不及预期的风险。现 ...

公司 2023 年度财务报表已经华兴会计师事务所(特殊普通合伙)审计，出具了标准无保留意见的 审计报告。 主要财务指标完成情况： 单位：人民币元 | 项 目 | 2023 年度 | 2022 年度 | 增减幅度 | | --- | --- | --- | --- | | 营业总收入 | 6,932,475,479.75 | 9,066,704,004.58 | -23.54% | | 归属母公司股东的净利润 | 43,102,038.12 | 628,382,186.57 | -93.14% | | 基本每股收益（元/股） | 0.09 | 1.42 | -93.66% | | 稀释每股收益（元/股） | 0.09 | 1.41 | -93.62% | | 经营活动产生的现金流量净额 | 415,156,740.69 | 720,508,576.84 | -42.38% | | 每股经营活动产生的现金流量净额（元/股） | 0.79 | 1.56 | -49.57% | | 加权平均净资产收益率 | 0.97% | 18.80% | -94.84% | 注：上述数据以合并报表数据填列。 二、资产负债状况及分析 ...

证券代码：300438 证券简称：鹏辉能源 公告编号：2024-025 广州鹏辉能源科技股份有限公司 关于召开2023年度股东大会的通知 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。 广州鹏辉能源科技股份有限公司（以下简称"公司"）第五届董事会第六次会议审 议通过了《关于提请召开公司2023年度股东大会的议案》，现将本次会议有关事项通知 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。经公司第五届董事会第六次会议审议，决定召 开2023年度股东大会。 3、会议召开的合法、合规性：本次股东大会会议召开符合有关法律、行政法规、部 门规章、规范性文件和公司章程的规定。 4、会议召开时间 （1）现场会议召开时间：2024年5月17日（星期五）下午14:30 （2）网络投票时间：2024年5月17日 其中，①通过深圳证券交易所交易系统进行网络投票的具体时间为：2024年5月17 日上午 9:15-9:25，9:30-11:30，下午13:00-15:00； ②通过深圳证券交易所互联网系统投票的具体时间为：202 ...

Financial Performance - The company's revenue for 2023 was approximately ¥6.93 billion, a decrease of 23.54% compared to ¥9.07 billion in 2022[14]. - The net profit attributable to shareholders for 2023 was ¥43.10 million, down 93.14% from ¥628.38 million in the previous year[14]. - The basic earnings per share for 2023 was ¥0.09, a decline of 93.66% from ¥1.42 in 2022[14]. - The company reported a net cash flow from operating activities of ¥415.16 million, a decrease of 42.38% from ¥720.51 million in 2022[14]. - The total revenue for 2023 was approximately ¥6.93 billion, a decrease of 23.54% compared to ¥9.07 billion in 2022[31]. - Lithium-ion battery revenue accounted for 92.27% of total revenue, amounting to approximately ¥6.40 billion, down 24.51% from ¥8.47 billion in 2022[31]. - Domestic revenue was approximately ¥5.92 billion, representing 85.41% of total revenue, a decline of 25.42% from ¥7.94 billion in 2022[31]. - The gross profit margin for lithium-ion batteries was 15.75%, down 2.28% year-on-year[32]. - The company reported a total fundraising amount of 150,445.27 million, with a net amount of 150,445.27 million, and has utilized 75,565.45 million of the raised funds[61]. - The company’s cash and cash equivalents amounted to approximately CNY 2.24 billion, representing 14.31% of total assets, while accounts receivable stood at approximately CNY 1.65 billion, accounting for 10.55% of total assets[53]. - The company’s inventory reached approximately CNY 3.10 billion, which is 19.80% of total assets, indicating a slight decrease in inventory proportion compared to the previous period[53]. Market Position and Strategy - The company aims to become a leading supplier in the global market and the preferred battery supplier in the global energy storage market[23]. - The company focuses on lithium iron phosphate technology for electric vehicle batteries, establishing deep partnerships with major automotive manufacturers[21]. - The domestic lithium iron phosphate battery installation volume ranked in the top 15 in China for 2023[21]. - The company has a strong presence in consumer electronics, providing a wide range of battery products to leading global clients[20]. - The company is focusing on expanding its market share in the electric two-wheeler and commercial vehicle segments[42]. - The company plans to increase its efforts in the electric tool battery market, capitalizing on the trend towards cordless and lithium-powered tools[43]. - The company is committed to becoming a leading supplier for top global clients by focusing on product quality and operational efficiency[84]. - The company has established long-term partnerships with leading clients in various sectors, including residential and commercial energy storage, enhancing its market position[181]. - The company has expanded its market presence, with products sold in over 50 countries, including the U.S., Germany, and Japan[191]. Research and Development - The company has actively recruited high-educated R&D and management talents globally to enhance its technical research and operational management capabilities, while also optimizing its internal talent training programs[49]. - The company has invested approximately ¥379.88 million in R&D, representing 5.48% of operating revenue, an increase from 4.90% in the previous year[110]. - The number of R&D personnel decreased by 1.37% to 1,366, while the proportion of R&D personnel to total staff increased to 15.16%[110]. - The company aims to enhance sodium-ion battery performance, targeting mass production with improved energy density and cycle life, which is expected to broaden application prospects in energy storage[107]. - The company is focusing on developing flexible solid-state battery technology to address safety and weight issues associated with traditional lithium-ion batteries, aiming for differentiated market solutions[109]. - The company has implemented significant R&D investments, exploring new battery technologies and achieving breakthroughs in safety and efficiency[194]. Production and Capacity - The company has a production capacity of 6.77 billion Ah annually for lithium-ion batteries, with a utilization rate of 61.54%[33]. - The company has developed a complete product matrix for large cylindrical cells, covering capacities from 6Ah to 50Ah, and is one of the first in the industry to achieve stable mass production and delivery of these products[45]. - The company has established nine modern production bases globally, covering over 1.6 million square meters, enhancing its manufacturing capabilities[191]. - The company is developing a zero-carbon factory in Qingdao with a planned capacity of 36GWh, enhancing its sustainability efforts[191]. Industry Trends and Outlook - The new energy industry in China saw a cumulative installed capacity of 31.39 million kilowatts by the end of 2023, with a year-on-year growth of over 260% in new installations[24]. - The market for electric two-wheelers is expected to grow significantly, driven by rising demand and the transition from lead-acid to lithium batteries[39]. - The Chinese new energy vehicle market saw production and sales of 9.59 million and 9.50 million units respectively in 2023, marking year-on-year growth of 35.8% and 37.9%[42]. - The lithium battery industry is entering a golden development period, driven by global demand across multiple regions and applications[82]. - The rapid development of 5G and AI technologies is expected to further expand the market for consumer batteries, presenting significant growth opportunities[182]. - In 2023, over 130 countries have proposed carbon neutrality goals, with more than 80% aiming for 2050 or 2060, driving the demand for renewable energy and new energy storage solutions[162]. Risk Management and Compliance - The company has established a comprehensive standardized quality management system, including certifications such as ISO9001 and IATF16949, ensuring compliance with international standards for product quality and safety[46]. - The company has outlined potential risk factors and countermeasures in its annual report, which investors should pay attention to[135]. - The company has established a risk management system for its hedging activities to comply with relevant laws and regulations[59]. Sales and Customer Relations - The total sales amount from the top five customers reached ¥1,886,433,602.98, accounting for 27.21% of the annual sales[130]. - The first customer contributed ¥696,644,432.55, representing 10.05% of the annual sales, while the second and third customers contributed ¥460,241,422.99 (6.64%) and ¥283,675,848.37 (4.09%) respectively[130]. - The company has entered the supply chain of electric tool giant TTI, establishing a significant position in the electric tool market, particularly in the lithium battery sector[160]. Financial Assets and Investments - The total amount of financial assets at the end of the reporting period was 189,497.79 million, with a fair value change of 33,571.28 million recorded in equity[65]. - The company has not made any speculative derivative investments during the reporting period[60]. - The company has not sold any significant assets during the reporting period[79]. - The company has not changed the purpose of any raised funds during the reporting period[61]. - The company’s derivative investments are funded by its own capital[59].

广州鹏辉能源科技股份有限公司 信息披露事务管理制度 第一章 总则 第一条 为规范广州鹏辉能源科技股份有限公司（以下简称"公司"）的信息披露工 作，促进公司依法规范运作，维护公司和股东尤其是社会公众股东的合法权益，明确公司 及相关信息披露义务人的信息披露义务，明确公司内部及子公司和有关人员的信息披露职 责范围、保密责任和报告义务，依据《中华人民共和国公司法》《中华人民共和国证券法》、 《上市公司信息披露管理办法》等有关法律法规和《广州鹏辉能源科技股份有限公司章程》 （以下简称"《公司章程》"）的相关规定，制定本制度。 第二条 本制度适用于公司及其子公司。 第二章 信息披露基本原则 第三条 公司及相关信息披露义务人应当根据有关法律、行政法规、部门规章、规范 性文件、《深圳证券交易所创业板股票上市规则》（以下简称"上市规则"）以及深圳证券交 易所（以下简称"深交所"）其他相关规定，及时、公平披露所有对公司股票及其衍生 品种交易价格可能产生较大影响的信息或事项（以下简称"重大信息"、"重大事件" 或者"重大事项"），并保证所披露信息真实、准确、完整，简明清晰、通俗易懂， 不得有虚假记载、误导性陈述或者重大遗漏。 第四 ...

一、本年度监事会会议召开情况 | 2023 年 8 月 31 日 | 第五届监事会第 | 《关于选举公司第五届监事会主席的议案》 | | --- | --- | --- | | | 一次会议 | | | 2023 年 9 月 26 日 | 第五届监事会第 二次会议 | 《关于续聘华兴会计师事务所（特殊普通合伙）为公司 2023 年度审计 | | | | 机构的议案》 | | | | 《关于使用募集资金置换预先投入募投项目自筹资金及使用银行承兑汇 | | | | 票、信用证等方式支付募投项目所需资金并以募集资金等额置换的议 | | | | 案》 | | | | 《关于使用闲置募集资金进行现金管理的议案》 | | | | 《关于公司回购股份方案的议案》 | | | | 回购股份符合相关条件 | | | | 拟回购股份的方式、价格区间 | | 2023 年 10 月 25 | 第五届监事会第 | 拟回购股份的种类、用途、数量、占公司总股本的比例及拟用于回购的 | | 日 | 三次会议 | 资金总额 | | | | 回购股份的资金来源 | | | | 回购股份的实施期限 | | | | 关于办理本次回购股份事宜的具体 ...