Financial Performance - The company's operating revenue for 2024 reached ¥2,429,755,341.86, representing a 23.77% increase compared to ¥1,963,149,590.82 in 2023[19] - The net profit attributable to shareholders decreased by 13.79% to ¥71,002,115.80 from ¥82,361,504.08 in the previous year[19] - The net profit after deducting non-recurring gains and losses increased by 23.17% to ¥38,703,462.67, compared to ¥31,422,360.88 in 2023[19] - The total assets of the company at the end of 2024 were ¥5,235,144,375.28, a 26.78% increase from ¥4,129,201,418.57 at the end of 2023[19] - The basic earnings per share decreased by 15.15% to ¥0.28 from ¥0.33 in 2023[19] - The cash flow from operating activities net amount was ¥299,916,950.88, up 15.23% from ¥260,268,766.41 in the previous year[19] - The weighted average return on equity for 2024 was 3.74%, down from 4.63% in 2023[19] - The company reported a significant increase in total equity attributable to shareholders, which rose by 12.65% to ¥2,051,586,667.10 from ¥1,821,146,503.01 in 2023[19] Market and Industry Trends - In 2024, China's automobile production and sales reached 31.28 million and 31.44 million units, respectively, with year-on-year growth of 3.7% and 4.5%[29] - New energy vehicle (NEV) production and sales in China reached 12.88 million and 12.87 million units, respectively, with year-on-year growth of 34.4% and 35.5%, accounting for 40.9% of total new car sales[29] - The global market for low-altitude economy is projected to reach 1.5 trillion yuan by 2025 and 3.5 trillion yuan by 2035[34] Strategic Initiatives and Partnerships - The company signed strategic cooperation agreements with multiple leading eVTOL enterprises in the low-altitude economy sector[34] - The company’s EH216-S became the world's first eVTOL aircraft to obtain type certificate (TC), airworthiness certificate (AC), and production license (PC) in 2024[35] - The company has established long-term partnerships with major automakers such as GAC, Geely, and SAIC, enhancing its market position in the new energy passenger vehicle sector[37] - The company signed strategic cooperation agreements with leading clients in the low-altitude economy sector, including EHang Intelligent[37] Research and Development - The company invested CNY 191.46 million in R&D, accounting for 7.88% of its revenue during the reporting period[65] - As of December 31, 2024, the company holds 189 authorized patents, including 48 invention patents and 136 utility model patents[65] - The company is focusing on high-pressure, miniaturized, lightweight, and integrated power systems to meet industry demands[33] - The company is implementing a platform-based development approach for new energy vehicle power systems, aligning with the technological trends and client needs[55] Production and Sales - The total shipment of power assemblies reached 902,800 units, representing an 85.08% year-on-year increase, while the shipment of electric control and drive assemblies decreased by 18.17% to 697,200 units[42] - Revenue from the new energy vehicle sector (including commercial vehicles) was 206,787.44 million yuan, up 30.15% year-on-year[44] - The sales volume of new energy products increased by 32.70% to 1,172,016 units in 2024, up from 883,203 units in 2023[88] - The company achieved a significant increase in revenue from powertrain assemblies, which rose by 96.72% to ¥1,233,924,280.71, compared to ¥627,239,273.53 in the previous year[86] Financial Management and Governance - The company has established a market value management system and disclosed a valuation enhancement plan[137] - The company strictly adheres to regulatory requirements and continuously improves its corporate governance structure[139] - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with relevant laws and regulations[143] - The company actively engages in investor relations activities, including online communication platforms for institutional investors[136] Employee and Talent Management - The total number of employees at the end of the reporting period is 2,191, with 1,699 in the parent company and 492 in major subsidiaries[188] - The company has a diverse workforce, with 1,055 production staff, 757 technical staff, and 112 sales staff[188] - The company aims to enhance its compensation structure to attract and retain core talent, focusing on performance-based incentives[189] - The company plans to conduct 105 training sessions in 2024, achieving a 100% completion rate[190] Cash Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥0.30 per 10 shares, based on a total share capital of 255,829,168 shares as of December 31, 2024[4] - The approved cash dividend for 2023 is CNY 0.30 per 10 shares, totaling CNY 7,569,681.24 distributed to shareholders[192] - The cash dividend policy stipulates that at least 10% of the distributable profit for the year will be distributed in cash, with a cumulative distribution of at least 30% over the last three years[192] Future Outlook - The company aims to become a world-class provider of overall solutions in the new energy power domain, focusing on high-quality product offerings to create value for customers[38] - The company plans to expand its market presence with new energy vehicle projects, targeting a completion by 2025[119] - The company is committed to meeting international standards and expanding its presence in overseas markets, particularly in high-pressure engineering vehicle components[96]

专注创造奇迹 执着成就梦想 证券代码：300681 证券简称：英搏尔 公告编号：2025-009 债券代码：123249 债券简称：英搏转债 珠海英搏尔电气股份有限公司 关于签署战略合作协议的公告 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、本协议由双方签字并盖章之日起生效。本协议属于双方合作意愿和基本 原则的框架性约定，后续合作的具体实施进度和具体金额将以另行签订的合同、 协议为准，具体实施内容和进展尚存在不确定性。敬请广大投资者注意投资风险。 2、本协议为框架协议，对公司 2025 年度经营业绩的影响需视协议各方后续 具体合作协议的签订和实施情况而定，预计对公司本年度的收入及利润无重大 影响。 一、协议签署概述 2025 年 4 月 21 日，珠海英搏尔电气股份有限公司（以下简称"英搏尔"或 "公司"）与浙江丰立智能科技股份有限公司（以下简称"丰立智能"）签署了 《战略合作协议》（以下简称"本协议"或"协议"），充分发挥双方的产品优 势和技术优势，共同推动在新能源汽车、关节模组、工程机械、eVTOL、智能制 造等领域的深度合作，实现优势 ...

专注创造奇迹 执着成就梦想 证券代码：300681 证券简称：英搏尔 公告编号：2025-008 债券代码：123249 债券简称：英搏转债 珠海英搏尔电气股份有限公司 关于召开 2024 年度暨 2025 年一季度业绩说明会的公告 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。 一、业绩说明会类型 本次业绩说明会将通过线上会议方式召开，公司将针对 2024 年度以及 2025 年第一季度经营成果与投资者进行交流，并对投资者普遍关注的问题进行回答。 二、业绩说明会召开的时间、方式 （一）会议召开时间：2025 年 4 月 23 日（星期三）上午 10:00-11:00； （二）会议召开方式：线上会议； 珠海英搏尔电气股份有限公司（以下简称"公司"）拟于 2025 年 4 月 23 日 在中国证监会指定的创业板信息披露网站巨潮资讯网上披露公司《2024 年年度 报告》和《2025 年第一季度报告》。为使投资者能够进一步了解公司经营情况， 公司拟于 2025 年 4 月 23 日召开业绩说明会。现将具体情况公告如下： （三）线上报名及参会方式： 1.网络端报名参会 ...

事件： 公司与亿航智能深度合作，将打开新一轮增长空间：公司与亿航智能在eVTOL相关领域已签署了相关 战略技术合作协议，并参与了相关私募股权定向增发；并与亿航智能合资成立相关子公司，深入参与 eVTOL总装前各工序、零部件的生产、亿航智能云浮工厂及其他生产基地的工艺优化和技术改造。亿 航智能eVTOL相关产能今明两年预计将会快速爆发，公司作为A股唯一相关合作公司，业绩将伴随 eVTOL制造业爆发而深度受益。 盈利预期：我们预计公司2024-2026 年净利润分别为0.81 亿、1.21 亿、2.21 亿元，YOY 分别为-1.4%、 +48.7%、+83.2%；EPS 分别为0.32 元、0.47元、0.87 元，当前股价对应A 股2024-2026 年P/E 为 115/74/42 倍，考虑到公司有望受益于亿航智能商业化推荐，维持"买进"建议。 3月28日，合肥合翼航空（合肥国资委和亿航智能合资成立）、广东亿航通航于同日拿到全球首张民用 无人驾驶载人航空器运营合格证，代表着亿航智能EH-216S成为全球首个"四证齐全"的eVTOL，商业化 进程全球领先。公司作为与亿航智能深度合作的相关企业有望充分受益，维持 ...

基于新能源汽车的电机与eVTOL电机之间有技术共通之处，英搏尔继与亿航智能、亿维特等合作后， 本次与高域合作，进一步完善了公司在低空经济细分赛道的场景布局，覆盖了载人、载物、飞行汽车等 三大应用场景，进一步增强公司在低空场景赛道竞争力。 自去年以来，英搏尔与亿航智能通过签署战略合作协议、股权投资深度绑定、共同设立合资公司等方 式，致力于低空经济领域中eVTOL产品动力系统的研发及产业化，实现"载人时代"的先发与卡位。凑巧 的是，今日亿航智能获批OC，成为全球首家"四证集齐"eVTOL企业，进一步助力载人无人驾驶eVTOL 航空器从试点走向商业化。英搏尔作为A股相关合作公司，业绩将有望深度受益。 作为新能源汽车电驱、电源系统头部企业，英搏尔（300681.SZ）正紧抓低空经济发展契机。4月8日， 英搏尔发布公告称，与广东高域科技有限公司（下称"高域"）签署了关于"低空经济 立体出行"的战略 合作协议。根据协议内容，双方将围绕实现电机、控制器等部件的高度集成等方面开展战略合作。 在与亿维特技术合作方面，英搏尔主要与其联合开发适用于其 ET9 eVTOL航空器系列产品的高性能一 体化电机电控产品。亿维特自主研制的电 ...

专注创造奇迹 执着成就梦想 证券代码：300681 证券简称：英搏尔 公告编号：2025-007 债券代码：123249 债券简称：英搏转债 珠海英搏尔电气股份有限公司 关于签署战略合作协议的公告 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、本协议由双方签字并盖章之日起生效。本协议属于双方合作意愿和基本 原则的框架性约定，后续合作的具体实施进度和具体金额将以另行签订的合同、 协议为准，具体实施内容和进展尚存在不确定性。敬请广大投资者注意投资风险。 2、本协议为框架协议，对公司 2025 年度经营业绩的影响需视协议各方后续 具体合作协议的签订和实施情况而定，预计对公司本年度的收入及利润无重大 影响。 一、协议签署概述 2025 年 4 月 8 日，珠海英搏尔电气股份有限公司（以下简称"英搏尔"或 "公司"）与广东高域科技有限公司（以下简称"高域"）签署了《高域和英搏 尔关于"低空经济 立体出行"的战略合作协议》（以下简称"本协议"或"协 议"），双方的合作，能够通过实现电机、控制器等部件的高度集成，为有效提 升高域的飞行汽车动力系统性能提供解 ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a potential upside of 15% to 35% [5]. Core Insights - The company has successfully obtained the OC certification for eVTOL, positioning itself as a leader in the commercialization of this technology [6]. - The partnership with EHang Intelligent is expected to open new growth opportunities, as the company is deeply involved in the eVTOL manufacturing process [6]. - The traditional business is benefiting from the growth in the new energy vehicle (NEV) market, with a significant increase in revenue driven by demand from major automotive manufacturers [6]. - The company reported a revenue of 1.607 billion RMB for the first three quarters of 2024, reflecting a year-on-year increase of 27.51% [6]. - Future profit expectations are optimistic, with projected net profits of 0.81 billion, 1.21 billion, and 2.21 billion RMB for 2024, 2025, and 2026 respectively [6][8]. Company Overview - The company operates in the automotive industry, with a focus on new energy vehicles, accounting for 86.54% of its product mix [3]. - As of March 28, 2025, the company's A-share price was 34.79 RMB, with a market capitalization of 6.136 billion RMB [2]. - The company has a total of 255.83 million shares issued, with major shareholder Jiang Guibin holding 28.69% [2]. Financial Performance - The company achieved a compound annual growth rate (CAGR) of 67% in revenue from 2020 to 2023, driven by the increasing demand for new energy vehicles [6]. - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 0.32 RMB, 0.47 RMB, and 0.87 RMB respectively, with corresponding price-to-earnings (P/E) ratios of 115, 74, and 42 [8]. - The net profit for 2023 is projected at 82.36 million RMB, a significant increase from the previous year [8].

Investment Rating - The report assigns a "Buy" rating to the company, indicating a potential upside of 15% to 35% [5][9]. Core Insights - The company has successfully obtained the OC certification for eVTOL, positioning itself as a leader in the global commercialization of this technology [6]. - The partnership with EHang Intelligent is expected to open new growth opportunities, as the company is deeply involved in the eVTOL manufacturing process [6]. - The traditional business is benefiting from the growth in the new energy vehicle (NEV) market, with a significant increase in revenue driven by demand from major automotive manufacturers [6]. - The company reported a revenue of 1.607 billion RMB for the first three quarters of 2024, reflecting a year-on-year growth of 27.51% [6]. - Future profit expectations are optimistic, with projected net profits of 0.81 billion, 1.21 billion, and 2.21 billion RMB for 2024, 2025, and 2026 respectively [6][8]. Company Overview - The company operates in the automotive industry, with a focus on new energy vehicles [2]. - As of March 28, 2025, the stock price was 34.79 RMB, with a market capitalization of 61.36 billion RMB [2]. - The company has a total of 255.83 million shares issued, with 176.38 million shares in A-shares [2]. Financial Performance - The company achieved a compound annual growth rate (CAGR) of 67% in revenue from 2020 to 2023, driven by the expansion of the NEV market [6]. - The projected earnings per share (EPS) for 2024, 2025, and 2026 are 0.32 RMB, 0.47 RMB, and 0.87 RMB respectively [8]. - The company’s net profit for 2023 is projected to be 82.36 million RMB, a significant increase from the previous year [8].

Summary of the Conference Call for Yingboer Company Overview - Yingboer has been focusing on the new energy vehicle (NEV) sector since 2021, achieving significant progress in power drive systems despite facing intense competition in 2023, leading to fluctuating performance. The company has transitioned from control systems to integrated power solutions, accumulating valuable experience in various fields [3][4]. Key Points Industry and Market Trends - The NEV industry is expected to grow rapidly, with the domestic electric drive and power management system market projected to reach 172.6 billion yuan by 2027, and the global market estimated at over 340 billion yuan. The trend is shifting towards integration and outsourcing [4][14]. - The eVTOL (Electric Vertical Take-Off and Landing) market shows significant potential, with policy support driving rapid industry growth. Yingboer, leveraging its technological advantages and partnerships, is well-positioned in this sector, with expected shipments of around 2,500 units by 2030 [4][19][27]. Company Developments - Yingboer is strategically adjusting its focus towards commercial vehicles and emerging applications like robotics, while also establishing partnerships with key players in the low-altitude economy, such as Yikehang and Yibeite [4][6][7]. - The company has made substantial progress in its eVita business, collaborating with Costa and Yiding to expand production capabilities and secure market qualifications [4][9]. Financial Performance - Since 2019, Yingboer has benefited from the NEV industry's growth, with rapid revenue increases. However, in 2023, adjustments were necessary due to changes in major customer models, particularly affecting profitability [10]. - The company’s revenue is expected to reach approximately 1.4 billion yuan by 2030, with net profits projected to grow steadily from 82 million yuan in 2024 to 194 million yuan in 2026 [27]. Product Categories - Yingboer's product offerings include integrated drive assembly products, power assemblies, electric control systems, and electric drive products for engineering machinery. The electric drive segment has become the company's largest revenue source [11]. Competitive Position - Since entering the NEV market in 2013, Yingboer has expanded its client base, now collaborating with major automotive manufacturers. The revenue share from the top five customers has been increasing [12]. Technological Advantages - The company possesses significant technological advantages, including innovations in single-tube parallel layered busbars and distributed capacitors, which enhance integration and reduce size and weight [25]. Future Outlook - The eVTOL market is characterized by high single-unit value, with the powertrain accounting for 20% to 40% of the total value, depending on the complexity of the design. Yingboer is expected to benefit from the growing demand in this sector [21][24]. Emerging Applications - Beyond NEVs and eVTOL, Yingboer is exploring opportunities in robotics and other high-performance applications, aligning with its technological capabilities [7]. Additional Insights - The electric forklift market is experiencing rapid growth, with a domestic penetration rate of 68% as of 2023, indicating strong demand in the engineering machinery sector [16]. - The company’s management team, with a strong technical background, is focused on fostering a culture of innovation and has implemented equity incentive plans to motivate employees [13]. This comprehensive overview highlights Yingboer's strategic positioning, market opportunities, and financial outlook within the rapidly evolving NEV and eVTOL industries.

专注创造奇迹 执着成就梦想 证券代码：300681 证券简称：英搏尔 公告编号：2025-006 债券代码：123249 债券简称：英搏转债 珠海英搏尔电气股份有限公司 关于控股子公司完成工商注册登记的公告 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。 一、概述 珠海英搏尔电气股份有限公司（以下简称"公司"）于 2025 年 1 月 8 日召开 的第四届董事会第五次会议，审议通过了《关于设立控股子公司的议案》，公司 和亿航智能设备（广州）有限公司（以下简称"亿航智能"）拟共同设立合资公 司，通过彼此资本、技术、管理、资源、品牌优势互补，围绕 eVTOL 产品生产制 造以及上游零部件产业链展开深入合作事宜，负责亿航智能 eVTOL 总装前各工 序、零部件的生产、亿航智能云浮工厂及其他生产基地的工艺优化和技术改造。 具体内容详见公司于 2025 年 1 月 8 日在巨潮资讯网（www.cninfo.com.cn） 刊载的《第四届董事会第五次会议决议公告》（公告编号：2025-002）和《关于 设立控股子公司的公告》（公告编号：2025-003）。 二、注册登记情 ...