证券代码：300820 证券简称：英杰电气 公告编号：2025-029 四川英杰电气股份有限公司 2024年年度股东会决议公告 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： 3、会议召开地点：四川省德阳市金沙江西路686号公司二楼报告厅 4、会议召集人：公司董事会 5、会议主持人：公司董事长王军先生 1、本次股东会没有出现否决议案的情况； 2、本次股东会不涉及变更以往股东会已通过决议的情况。 一、会议召开和出席的情况 （一）会议召开情况 1、会议召开时间： （1）现场会议召开时间：2025 年 5 月 16 日（星期五）14:30 （2）网络投票时间：通过深圳证券交易所（以下简称"深交所"）交易系统 进行网络投票的具体时间为 2025 年 5 月 16 日 9:15-9:25，9:30-11:30 和 13:00-15:00；通过深交所互联网投票系统投票的具体时间为2025年5月16日9:15 至 15:00 期间的任意时间。 2、会议召开方式：本次股东会采取现场投票与网络投票相结合的方式 6、本次会议的召集、召开符合有关法律、行政法规、部门规章 ...

证券代码：300820 证券简称：英杰电气 公告编号：2025-028 欢迎广大投资者积极参与本次业绩说明会。 四川英杰电气股份有限公司 关于举行 2024 年度网上业绩说明会的公告 | 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。 | 四川英杰电气股份有限公司（以下简称"公司"）已于 2025 年 4 月 25 日在 巨潮资讯网（www.cninfo.com.cn）上披露了《2024 年年度报告》。为便于广大投 资者进一步了解公司财务状况及经营情况，公司将于 2025 年 5 月 19 日（星期一） 15:00 至 17:00 在全景网举行 2024 年度网上业绩说明会，本次业绩说明会将采用 网 络 远 程 的 方 式 举 行 ， 投 资 者 可 登 录 全景网 " 投 资 者 关 系 互 动 平 台 " （http://ir.p5w.net）参与本次业绩说明会。 出席本次业绩说明会的人员有：公司董事兼总经理周英怀先生、副总经理兼 董事会秘书刘世伟先生、财务总监张海涛女士、独立董事冯渊女士、保荐代表人 杜柯先生（如遇特殊情况，参会人 ...

Core Viewpoint - A new company, Hangzhou Yingjie Chenran Technology Co., Ltd., has been established, focusing on electric vehicle charging infrastructure and related sales [1] Company Summary - The legal representative of the new company is Lin Qiang, with a registered capital of 5 million yuan [1] - The company's business scope includes operations of electric vehicle charging infrastructure, centralized fast charging stations, sales of electrical equipment, mechanical equipment, electronic products, and charging piles, as well as sales of new energy vehicle battery swap facilities [1] - Yingjie Chenran Technology is wholly owned by Yingjie Electric (300820) through indirect shareholding [1]

Core Insights - The event held on May 9, 2025, in Chengdu focused on the collaboration and development of the new energy industry, aiming to deepen cooperation between Sichuan and eastern regions, and accelerate the establishment of a world-class new energy industry hub [1] Group 1: Wind Energy - Deyang is a major hub for the new energy industry in Sichuan, leading in wind power equipment with a scale ranking first in the central and western regions of China [1] - Over 10% of the national wind power equipment and over 70% of Sichuan's wind power equipment originate from Deyang, which has more than 20 supporting enterprises [1] - Deyang is recognized as the only national-level wind power technology source, providing a "Deyang solution" for the transformation and development of the wind power equipment industry [1] Group 2: Solar Energy - The photovoltaic industry in Deyang is rapidly developing, with several leading enterprises establishing operations in the city, including two global top three companies in niche sectors [2] - Yingjie Electric, a national manufacturing "single champion," holds over 80% of the global market share for single and multi-crystal silicon growth power supplies [2] - Deyang's photovoltaic industry chain includes various segments such as crucibles, rods, slices, silver powder, silver paste, equipment, and components [2] Group 3: Hydrogen Energy - Deyang has strengthened technical cooperation with over 10 universities and research institutes, becoming the technology source and the most complete pilot verification base for hydrogen energy in the province [2] - The city successfully developed China's first 100KW fuel cell distributed energy system and a megawatt-level combined heat, electricity, and hydrogen supply system [2] - Deyang also created the first megawatt-level photovoltaic power generation coupled PEM electrolysis hydrogen production system in the country [2] Group 4: Major Projects and Initiatives - Deyang has developed significant projects such as the "Hualong One" nuclear power unit and the world's largest chemical chain carbon capture equipment system, showcasing its strength and innovation in the new energy sector [3] - The event featured the release of the "Yangtze River Economic Belt New Energy Industry Collaborative Development Initiative," promoting key industrial parks and sharing successful experiences from leading enterprises [3] - Investment project signing ceremonies were held to inject new momentum into the further development of Sichuan's new energy industry [3]

证券代码：300820 证券简称：英杰电气 公告编号：2025-027 四川英杰电气股份有限公司 关于独立董事辞职的公告 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。 四川英杰电气股份有限公司（以下简称"公司"）董事会于近日收到公司独立 董事吴赞先生的书面辞职报告。吴赞先生因个人原因申请辞去公司第五届董事会 独立董事职务，同时辞去第五届董事会提名委员会主任委员、审计委员会委员、 薪酬与考核委员会委员职务。吴赞先生的原定任期至公司第五届董事会届满为止。 辞职后，吴赞先生不再担任公司任何职务。 吴赞先生的辞职将导致公司董事会及相关董事会专门委员会中独立董事所占 比例不符合规定，根据《中华人民共和国公司法》《上市公司独立董事管理办法》 《公司章程》等有关规定，吴赞先生的辞职将在公司股东会选举产生新任独立董事 后生效。在此之前，吴赞先生将继续履行独立董事及其在董事会下设专门委员会 中的相关职责。公司将按照相关规定尽快完成新任独立董事选举工作。 截至本公告披露日，吴赞先生未持有公司股份，不存在应履行而未履行的承 诺事项。 公司董事会对吴赞先生在担任公司独立董事期间勤勉 ...

四川英杰电气股份有限公司 关于回购公司股份的进展公告 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。 四川英杰电气股份有限公司（以下简称"公司"或"本公司"）于 2024 年 7 月 9 日召开第五届董事会第十次会议、于 2024 年 7 月 25 日召开 2024 年第二次临 时股东大会，审议通过了《关于回购公司股份方案的议案》，同意公司使用自有资 金以集中竞价交易方式回购公司部分人民币普通股 A 股股份，用于后期实施员工 持股计划或者股权激励，回购的资金总额不低于人民币 5,000.00 万元（含本数） 且不超过人民币 10,000.00 万元（含本数），回购股份价格不超过 62.00 元/股（含 本数），回购股份的实施期限为自股东大会审议通过回购股份方案之日起 12 个月 内。具体内容详见公司于巨潮资讯网（http://www.cninfo.com.cn）披露的《关 于回购公司股份方案的公告》《回购报告书》。 证券代码：300820 证券简称：英杰电气 公告编号：2025-026 1、公司未在下列期间内回购公司股份： （1）自可能对本公司证券及其衍生品种 ...

Investment Rating - The report maintains a "Buy" rating for the company [1][10] Core Views - The semiconductor business continues to develop, and overseas renewable energy business prospects are promising [1] - In 2024, the company achieved revenue of 1.78 billion yuan, a year-on-year increase of 0.59%, while net profit attributable to the parent company was 323 million yuan, a year-on-year decrease of 25.19% [3] - The company is focusing on expanding its overseas photovoltaic and charging pile businesses, with steady progress in semiconductor product models and new orders [6][7] Financial Performance Summary - In 2024, the company's photovoltaic revenue was 874 million yuan, down 10.27% year-on-year, while semiconductor revenue was 351 million yuan, up 6.41% year-on-year [6] - The gross margin for the semiconductor segment increased significantly, with a gross margin of 53.98% in 2024, up 11.14 percentage points year-on-year [6] - The company expects revenues of 2.201 billion yuan, 2.664 billion yuan, and 3.177 billion yuan for 2025, 2026, and 2027 respectively, with corresponding net profits of 430 million yuan, 546 million yuan, and 672 million yuan [9][10] Market Performance Summary - As of April 30, 2025, the company's stock price was 39.90 yuan, with a market capitalization of approximately 8.84 billion yuan [4] - The company's performance over the last 12 months shows a decline of 19.7%, compared to a 4.6% increase in the CSI 300 index [4]

证券研究报告·公司点评报告·其他电源设备Ⅱ 英杰电气（300820） 2024 年报&2025 年一季报点评：业绩短期承 压，半导体射频电源打造新增长极 增持（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 1,770 | 1,780 | 2,119 | 2,555 | 3,205 | | 同比（%） | 37.99 | 0.59 | 19.03 | 20.58 | 25.45 | | 归母净利润（百万元） | 431.42 | 322.76 | 401.30 | 497.76 | 633.77 | | 同比（%） | 27.23 | (25.19) | 24.34 | 24.04 | 27.32 | | EPS-最新摊薄（元/股） | 1.95 | 1.46 | 1.81 | 2.25 | 2.86 | | P/E（现价&最新摊薄） | 20.66 | 27.62 | 22.21 | 17.91 | 14.06 | ...

Core Viewpoint - The company demonstrated stable revenue growth in 2024, with a notable increase in profit margins in Q1 2025, despite some declines in specific product segments [1][2]. Financial Performance - In 2024, the company achieved a revenue of 1.78 billion, a year-on-year increase of 0.59%, with power control systems revenue at 1.184 billion, down 12.03% year-on-year, and special power revenue at 423 million, up 53.90% year-on-year [1]. - The net profit attributable to the parent company was 323 million, a decrease of 25.19% year-on-year, while the net profit excluding non-recurring items was 307 million, down 27.87% year-on-year [1]. - For Q1 2025, the company reported a revenue of 325 million, a year-on-year decrease of 13.30% and a quarter-on-quarter decrease of 28.03% [1]. Profitability and R&D Investment - The gross profit margin for 2024 was 38.50%, an increase of 1.28 percentage points year-on-year, while the special power margin was 60.81%, up 13.30 percentage points year-on-year [2]. - R&D expenses reached 137 million in 2024, a year-on-year increase of 40.18%, indicating a sustained high level of investment in research and development [2]. Inventory and Cash Flow - As of Q4 2024, the company's inventory was 1.556 billion, down 15.35% year-on-year, while contract liabilities were 1.147 billion, up 1.00% year-on-year [3]. - The net cash flow from operating activities for Q4 was 256 million, an increase of 38.50% year-on-year [3]. Industry Outlook - The company is positioned as a leader in the domestic semiconductor power supply market, with increasing domestic substitution rates in photovoltaic and semiconductor products [4]. - The company is focusing on key processes in semiconductor etching and thin film deposition, with several RF power supply models already in mass production [4]. - The subsidiary is dedicated to developing and manufacturing electric vehicle charging stations, with plans for expansion into European and Asian markets [4]. Profit Forecast and Investment Rating - The net profit forecast for 2025-2026 has been revised down to 401 million and 498 million, respectively, with an expected net profit of 634 million in 2027 [5]. - The current market capitalization corresponds to a price-to-earnings ratio of 22.2/17.9/14.0 for the respective years, maintaining a "buy" rating based on growth potential [5].

事件：公司2024 年实现营收17.80 亿元，同比增长0.59%；实现归母净利润3.23 亿元，同比减少 25.19%；扣非归母净利润3.07 亿元，同比减少27.87%；拟向全体股东每10 股派发现金红利4 元（含 税）。公司2025 年一季度实现营收3.25 亿元，同比减少13.30%，环比减少28.03%；实现归母净利润 0.50 亿元，同比减少36.84%，环比增长155.93%。 积极开拓海外并加强回款，以应对光伏业务下行周期。在光伏领域，2024 年公司在光伏行业实现营收 8.74 亿元，同比减少10.27%，毛利率为28.53%，同比下降2.36pct。2024 年公司国内光伏业务进入下行 周期，新增订单大幅下降，且客户验收延缓、付款延迟，导致公司光伏领域业务营收和毛利率均有所下 降。 在此背景下，公司加大力度开拓海外光伏市场，积极与海外优质客户建立紧密联系，成功在海外市场取 得订单突破，24 年签订约5 亿元光伏海外订单，一定程度弥补国内市场订单缺口；此外，公司强化项目 验收和应收账款管理，制定多样灵活的付款方案，在保障客户合作关系的同时，加快项目验收和款项回 收速度。 积极布局半导体行业， ...