证券代码：300724 证券简称：捷佳伟创 公告编号：2024-049 深圳市捷佳伟创新能源装备股份有限公司 第五届监事会第五次会议决议公告 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。 经审核，监事会认为：董事会编制和审议的公司《2024 年第一季度报告》的 程序符合法律、行政法规及中国证监会的规定，报告内容真实、准确、完整地反 映了公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 《2024 年第一季度报告》详见巨潮资讯网（www.cninfo.com.cn）。 表决结果：同意 3 票、反对 0 票、弃权 0 票。 特此公告。 深圳市捷佳伟创新能源装备股份有限公司监事会 2024 年 4 月 26 日 一、监事会会议召开情况 深圳市捷佳伟创新能源装备股份有限公司（以下简称"公司"）第五届监事 会第五次会议于 2024 年 4 月 23 日以电子邮件的形式发出会议通知，以现场与通 讯相结合的方式于 2024 年 4 月 26 日召开。会议应出席监事 3 人，实际出席监事 3 人。会议由公司监事会主席刘峰主持，符合《中华人民共和国公司法》和公司 ...

证券代码：300724 证券简称：捷佳伟创 公告编号：2024-048 深圳市捷佳伟创新能源装备股份有限公司 第五届董事会第五次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 深圳市捷佳伟创新能源装备股份有限公司（以下简称"公司"）第五届董事 会第五次会议于 2024 年 4 月 23 日以电子邮件的形式发出会议通知，以现场与通 讯相结合的方式于 2024 年 4 月 26 日召开。会议应出席董事 7 人，实际出席董事 7 人。会议由公司董事长左国军主持，符合《中华人民共和国公司法》和公司章 程的有关规定。 二、董事会会议审议情况 1、审议通过《关于公司 2024 年第一季度报告的议案》； 公司《2024 年第一季度报告》全文详见巨潮资讯网（www.cninfo.com.cn）。 本议案已经公司董事会审计委员会审议通过。 表决结果：同意 7 票、反对 0 票、弃权 0 票。 2、审议通过《关于变更公司法定代表人的议案》； 根据《公司章程》规定，董事长或总经理为公司的法定代表人，公司董事会 同意变更公司法定代表人为董事长左国 ...

证券代码：300724 证券简称：捷佳伟创 公告编号：2024-047 二、股东股份累计质押情况 深圳市捷佳伟创新能源装备股份有限公司 关于控股股东、实际控制人部分股份补充质押的公告 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。 深圳市捷佳伟创新能源装备股份有限公司（以下简称"公司"）近日自查发现公司 控股股东、实际控制人左国军先生质押公司股份情况发生变更，经确认后获悉其所持有 的公司部分股份发生补充质押，现将具体情况公告如下： 一、股东股份质押的基本情况 | 股东 | 是否为控股 股东或第一 | 本次质押数 | 占其所 持股份 | 占公司 总股本 | 是否 为限 | 是否 为补 | 质押起始 | | 质押到期 | 质权人 | 质押用 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 大股东及其 | 量（股） | | | | 充质 | 日 | | 日 | | 途 | | | 一致行动人 | | 比例 | 比例 | 售股 | 押 | | | | ...

[Table_Page] 公告点评|专用设备 证券研究报告 [捷Table_佳Title] 伟创（300724.SZ） [公Tab司le_I评nves级t] 买入 当前价格 58.28元 一季报预告超预期，设备进入业绩兑现期 合理价值 81.95元 前次评级 买入 [ 核Tabl 心e_Su 观mm 点ary] ： 报告日期 2024-04-24 ⚫ 一季报预告超预期。公司发布业绩预告，24Q1 公司实现归母净利润 [相Tab对le_P市icQ场uote表] 现 5.21亿元~5.89亿元，同比+55.00%~+75.00%，扣非归母净利润4.94 亿元~5.62亿元，同比+66.38%~+89.02%。 12% 0% ⚫ 子公司中标半导体碳化硅整线湿法设备订单。根据公司公众号22日发 04/23 06/23 08/23 10/23 12/23 02/24 04/24 -13% 布的推送，子公司创微微电子在竞标中技术与商务综合评估领先，中标 -25% 半导体碳化硅整线湿法设备订单并顺利完成合同签署，标志着创微微 -38% 电子 6/8 吋槽式及单片全自动湿法刻蚀清洗设备已经覆盖了碳化硅器 -50% 捷佳伟创 ...

Financial Performance - The company expects a net profit attributable to shareholders of between 521.42 million RMB and 588.70 million RMB for Q1 2024, representing a year-on-year growth of 55.00% to 75.00% compared to 336.40 million RMB in the same period last year[2] - The net profit after deducting non-recurring gains and losses is projected to be between 494.41 million RMB and 561.69 million RMB, indicating a year-on-year increase of 66.38% to 89.02% from 297.16 million RMB in the previous year[2] Revenue and Profit Drivers - The increase in revenue and profit is attributed to the continuous conversion of orders across various technical routes into income, along with the benefits of scale effects and cost control measures[2]

[Table_Page] 年报点评|专用设备 证券研究报告 [捷Table_佳Title] 伟创（300724.SZ） [公Tab司le_I评nves级t] 买入 当前价格 58.23元 业绩符合预期，静待下一轮周期 合理价值 81.95元 前次评级 买入 [ 核Tabl 心e_Su 观mm 点ary] ： 报告日期 2024-04-23 ⚫ 业绩符合预期。公司于4月19日发布年报，23年公司实现营收87.33 [相Tab对le_P市icQ场uote表] 现 亿元，同比+45.43%，归母净利润16.34亿元，同比+56.04%，扣非归 母净利润15.25亿元，同比+57.03%；单看Q4，公司实现营收23.28 12% 0% 亿元，同比+33.15%，归母净利润4.11亿元，同比+81.77%，扣非归 04/23 06/23 08/23 10/23 12/23 02/24 04/24 -13% 母净利润 3.96 亿元，同比+89.37%；盈利能力有所提高，23Q4 毛利 -25% 率31.85%，同比+6.46pct；净利率17.69%，同比+4.67pct。 -38% ⚫ 光伏多领域布局。TOPCon ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company achieved a significant revenue increase of 45.4% year-on-year in 2023, reaching 87.33 billion yuan, with a net profit growth of 56.0% to 16.34 billion yuan [3][9] - The company is expanding its specialized equipment platform, covering various photovoltaic technologies including TOPCon, HJT, and perovskite [3][16] - The financial outlook is positive, with expected net profits of 26.2 billion yuan, 35.3 billion yuan, and 39.9 billion yuan for 2024, 2025, and 2026 respectively, leading to a maintained "Accumulate" rating [19] Summary by Sections Financial Performance - In 2023, total revenue was 87.33 billion yuan, with a year-on-year increase of 45.4%. The revenue from process equipment was 70.6 billion yuan, up 42.3%, accounting for 80.9% of total revenue. Automation equipment revenue was 11.4 billion yuan, a 96.2% increase [2][3] - The net profit attributable to shareholders was 16.34 billion yuan, reflecting a 56.0% year-on-year growth, while the net profit excluding non-recurring items was 15.3 billion yuan, up 57.0% [3][9] Profitability - The company's gross margin for 2023 was 28.9%, an increase of 3.5 percentage points year-on-year. The gross margin for process equipment was 27.8%, up 3.4 percentage points, while automation equipment gross margin was 22.4%, up 9.2 percentage points [12][14] - The net profit margin was 18.9%, an increase of 1.3 percentage points year-on-year [12] Cash Flow and Inventory - As of the end of 2023, the company's contract liabilities reached 18.111 billion yuan, a 212% increase year-on-year, and inventory was 21.282 billion yuan, up 201% [14] - The net cash flow from operating activities was 3.517 billion yuan, a 142% increase year-on-year [22] Technological Advancements - The company has achieved full coverage of photovoltaic equipment technologies, including TOPCon, HJT, and perovskite. Notably, the average conversion efficiency of HJT cells reached 25.4% [16][17] - In semiconductor equipment, the company successfully developed high-temperature treatment equipment for silicon carbide [17] Investment Outlook - The company is expected to benefit from the continuous expansion of TOPCon production, with new orders significantly increasing. The projected net profits for 2024-2026 are 26.2 billion yuan, 35.3 billion yuan, and 39.9 billion yuan respectively, with corresponding dynamic P/E ratios of 8, 6, and 5 [19][21]

Investment Rating - The report maintains a "Buy" rating for the company [3][5]. Core Views - The company achieved a revenue of 8.733 billion yuan in 2023, a year-on-year increase of 45.43%, and a net profit of 1.634 billion yuan, up 56.04% year-on-year [2][3]. - The rapid growth in equipment sales is driven by the large-scale expansion of TOPCon battery technology, with solar cell production equipment shipments increasing by 221.27% to 34,093 units in 2023 [2][3]. - The company has seen a significant increase in its order backlog, with contract liabilities reaching 18.111 billion yuan, a 211.6% year-on-year increase [3]. Summary by Sections Financial Performance - In Q4 2023, the company reported revenue of 2.328 billion yuan, a 33.15% increase year-on-year, and a net profit of 411 million yuan, up 81.77% year-on-year [2]. - The company plans to distribute a cash dividend of 12 yuan per 10 shares (tax included) [2]. R&D and Technological Advancements - R&D investment increased by 63.29% to 467 million yuan in 2023, accounting for 5.35% of revenue [3]. - The company has made breakthroughs in various technologies, including the development of advanced equipment for TOPCon and HJT technologies, as well as innovations in perovskite solar cells and silicon carbide high-temperature treatment equipment for semiconductors [3]. Future Projections - The company’s net profit forecasts for 2024-2026 are adjusted to 2.629 billion yuan, 3.440 billion yuan, and 3.967 billion yuan, respectively [3]. - The current stock price corresponds to a PE ratio of 8 times for 2024 [3].

Investment Rating - The report maintains a "Buy" rating for the company [1][5] Core Views - The company achieved a revenue of 8.733 billion yuan in 2023, representing a year-on-year growth of 45.45%, and a net profit of 1.634 billion yuan, up 56.04% year-on-year [2][3] - The company is positioned as a leader in TOPCon equipment, benefiting from the rapid growth of the photovoltaic industry and the acceleration of TOPCon technology expansion [3][5] - The company plans to distribute a cash dividend of 12 yuan per 10 shares to all shareholders, reflecting its commitment to shareholder returns [3] Financial Performance Summary - **Revenue Forecast**: - 2022A: 6.005 billion yuan - 2023A: 8.733 billion yuan - 2024E: 13.275 billion yuan - 2025E: 17.788 billion yuan - 2026E: 21.168 billion yuan - Growth rates: 19% (2022A), 45% (2023A), 52% (2024E), 34% (2025E), 19% (2026E) [1][5] - **Net Profit Forecast**: - 2022A: 1.047 billion yuan - 2023A: 1.634 billion yuan - 2024E: 2.534 billion yuan - 2025E: 3.382 billion yuan - 2026E: 3.995 billion yuan - Growth rates: 46% (2022A), 56% (2023A), 55% (2024E), 33% (2025E), 18% (2026E) [1][5] - **Earnings Per Share (EPS)**: - 2022A: 3.01 yuan - 2023A: 4.69 yuan - 2024E: 7.28 yuan - 2025E: 9.71 yuan - 2026E: 11.48 yuan [1][5] - **Cash Flow**: - The net cash flow from operating activities in 2023 was 3.517 billion yuan, a significant increase of 142.36% year-on-year [3][5] - **Research and Development**: - R&D investment in 2023 was 467 million yuan, up 63.46% year-on-year, accounting for 5.35% of revenue [3][5] Industry Positioning - The company is expanding its capabilities in HJT technology, which is expected to become a key focus for major manufacturers in the long term [4][5] - The company is also leading in the perovskite equipment sector, with significant market potential anticipated [5] - In the semiconductor cleaning equipment market, the company is positioned to capture a growing share as domestic demand increases [5]

2024 年 04 月 21 日 公司研究 评级：买入 (维持 ) 研究所： [Table_Title] 盈利能力稳步提升，多点布局持续加速 证券分析师： 姚健 S0350522030001 yaoj@ghzq.com.cn 证券分析师： 杜先康 S0350523080003 ——捷佳伟创（ ） 年报点评 300724 2023 duxk01@ghzq.com.cn 最近一年走势 事件 : 捷佳伟创4月18日发布2023年报：2023公司实现收入87.33亿元，同 比增长45.43%；实现归母净利润16.34亿元，同比增长56.04%；实现 扣非归母净利润15.25亿元，同比增长57.03%。 投资要点 : 相对沪深300表现 2024/04/19  业绩持续高增，多点布局加速。2023年工艺设备业务实现收入70.62 表现 1M 3M 12M 亿元，同比增长42.27%；自动化配套设备业务实现收入11.37亿元， 捷佳伟创 -15.3% -16.0% -48.8% 同比增长96.20%。公司全面布局多种高效光伏电池技术，同时积极 沪深300 -1.0% 8.3% -14.1% 拓展半导体、锂电等设备，多点 ...