Financial Performance - The company's operating revenue for 2024 was ¥4,773,403,837.15, a decrease of 3.23% compared to ¥4,932,663,144.70 in 2023[21]. - Net profit attributable to shareholders for 2024 increased by 46.49% to ¥418,777,240.93 from ¥285,866,081.77 in 2023[21]. - The net profit after deducting non-recurring gains and losses was ¥412,404,242.76, up 49.56% from ¥275,747,666.38 in 2023[21]. - The cash flow from operating activities turned positive with a net amount of ¥121,563,559.28, a significant increase of 435.81% compared to -¥36,200,259.44 in 2023[21]. - Basic and diluted earnings per share for 2024 were both ¥1.17, representing a 44.44% increase from ¥0.81 in 2023[21]. - Total assets at the end of 2024 reached ¥8,100,333,689.62, reflecting a growth of 16.71% from ¥6,940,549,191.37 at the end of 2023[21]. - The company's net assets attributable to shareholders increased by 23.12% to ¥2,162,450,138.01 at the end of 2024 from ¥1,756,433,093.81 at the end of 2023[21]. - The company achieved a total revenue of CNY 4.77 billion in 2024, a decrease of 3.23% compared to the previous year, primarily due to a reduction in domestic energy storage system integration business[75]. - The net profit attributable to shareholders was CNY 419 million, an increase of 46.49% year-on-year, driven by rapid growth in overseas solar-storage business[75]. Dividends and Capital Reserves - The company plans to distribute a cash dividend of 1.2 CNY per 10 shares (including tax) based on a total of 358,589,697 shares[3]. - The company will increase its capital reserve by converting 4 shares for every 10 shares held by shareholders[3]. - The company distributed a cash dividend of 1 yuan (including tax) for every 10 shares, totaling 35,803,896.50 yuan (including tax) based on a total share capital of 358,038,965 shares[172]. - The company plans to distribute a cash dividend of 1.2 yuan (including tax) for every 10 shares, totaling 43,030,763.64 yuan (including tax) for the 2024 fiscal year[174]. Market and Industry Outlook - The company anticipates a 27.98% year-on-year growth in new photovoltaic installations in China for 2024, reaching 277.57GW[34]. - Global photovoltaic installations are expected to increase by 35.90% in 2024, with an estimated 530GW of new capacity added[31]. - The global photovoltaic (PV) installed capacity is expected to reach 1,500 GW from 2022 to 2027, with an average annual addition of 300 GW, driven by favorable policies and declining costs[36]. - By 2027, global cumulative PV installed capacity is projected to exceed coal, becoming the primary power source globally[36]. - The demand for PV inverters is driven by both new installations and the replacement of aging inverters, with an estimated 176 GW of inverters reaching over ten years of service life by 2024[41]. - In 2024, China's new energy storage capacity is expected to reach 43.7 GW/109.8 GWh, representing a year-on-year growth of 103%/136%[45]. Research and Development - The company is committed to enhancing its research and development capabilities for new products and technologies[3]. - The company has established four R&D centers in Shenzhen, Wuxi, Chengdu, and Suzhou, with 490 R&D personnel, accounting for 30.45% of total employees, enhancing its competitive edge in technology[65]. - The company utilizes advanced semiconductor materials like SiC and GaN, along with innovative control algorithms, to improve inverter efficiency, which has reached over 99%[64]. - The company has received recognition as a national enterprise technology center, underscoring its commitment to R&D and technological advancement[65]. - The company’s R&D expenses rose to ¥289,940,024.60, reflecting a 7.96% increase from ¥268,565,551.15 in the previous year[88]. - The company is investing in research and development, allocating 68.61 million towards innovative technologies and product enhancements[141]. Corporate Governance - The board consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[133]. - The audit committee is composed solely of independent directors, with a focus on financial oversight and compliance[134]. - The company has a dedicated investor relations management system, providing multiple channels for investor communication and feedback[135]. - The company emphasizes transparency and timely information disclosure, adhering to relevant laws and regulations[135]. - The company has established a performance evaluation and incentive mechanism to align management interests with shareholder value[135]. - The company has a clear governance structure with defined roles for the board of directors, supervisory board, and management, ensuring effective decision-making and oversight[138]. - The company has established a robust governance structure with multiple layers of oversight, including independent directors and a supervisory board[146][151]. Risk Management - The company emphasizes risk awareness regarding forward-looking statements and potential risks in future development[3]. - The company faces risks from policy changes that could adversely affect its performance, and it plans to diversify its market presence to reduce reliance on any single country's policies[121]. - Increased competition in the photovoltaic and energy storage sectors may impact market share and profit margins, prompting the company to boost R&D investment and optimize product offerings[122]. - The company is addressing the risk of large accounts receivable by strengthening management and cash flow controls to ensure timely collections[123]. - Currency exchange rate fluctuations pose a risk to the company's financial results, and it plans to utilize hedging tools to mitigate this risk[124]. - The company is aware of increasing international trade protectionism and plans to expand its international market presence while managing supply chain capabilities[125]. Product Offerings - The company offers a wide range of PV inverters, including string inverters with power ratings from 3 to 350 kW and centralized inverters ranging from 2500 to 8800 kW, achieving over 99% conversion efficiency[54][56]. - Energy storage products include centralized and string inverters with power ratings from 100 to 2000 kW, capable of integrating up to 12.5 MW of inverter products, suitable for various applications[57]. - The company has launched several integrated solutions, including high-power outdoor photovoltaic inverters and energy storage systems, ensuring a leading R&D advantage[66]. - The company’s photovoltaic inverter products accounted for 57.62% of total revenue, while energy storage products contributed 40.40%[77]. Employee and Labor Management - The total number of employees at the end of the reporting period was 1,609, with 893 in the parent company and 716 in major subsidiaries[167]. - The company has a total of 490 technical personnel, contributing to its focus on enhancing professional skills and overall operational efficiency[167]. - The company has established a competitive salary system based on industry salary surveys to attract and retain talent[169]. - The company has implemented a stock incentive plan, granting 4.2881 million shares of restricted stock to 2 incentive objects for the first vesting period[175]. Environmental and Social Responsibility - The company is committed to strengthening environmental supervision and management, aligning its operations with national environmental protection policies, and actively engaging in the development of green energy in the photovoltaic and energy storage sectors[187]. - The company has disclosed its environmental, social, and governance (ESG) report for the year 2024 on the Giant Tide Consulting website[188].

Financial Performance - The company's revenue for Q1 2025 reached ¥830,695,956.49, representing a 16.78% increase compared to ¥711,352,234.63 in the same period last year[5] - Net profit attributable to shareholders was ¥87,649,747.71, a significant increase of 71.56% from ¥51,088,665.14 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥85,791,881.08, up 82.69% from ¥46,959,701.77 in the previous year[5] - Basic and diluted earnings per share both increased to ¥0.24, reflecting a 71.43% rise from ¥0.14 in the same period last year[5] - Total operating revenue for the current period reached ¥830,695,956.49, an increase of 16.7% compared to ¥711,352,234.63 in the previous period[18] - Net profit for the current period was ¥87,355,070.77, representing a significant increase of 72.7% from ¥50,585,515.58 in the previous period[19] - Basic and diluted earnings per share for the current period were both ¥0.24, up from ¥0.14 in the previous period, representing a growth of 71.4%[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥8,329,524,995.10, a 2.83% increase from ¥8,100,333,689.62 at the end of the previous year[5] - The company's total assets increased to ¥8,329,524,995.10, compared to ¥8,100,333,689.62, marking a growth of 2.8%[16] - Total liabilities rose to ¥6,075,014,409.11, up from ¥5,933,308,622.77, indicating an increase of 2.4%[16] - The equity attributable to shareholders of the parent company increased to ¥2,250,230,334.09, compared to ¥2,162,450,138.01, reflecting a growth of 4.1%[16] - Total current assets reached ¥7,045,242,843.05, up from ¥6,805,075,136.08 in the previous period[14] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥707,725,082.23, worsening by 35.35% compared to a net outflow of ¥522,873,732.88 in the previous year[5] - Cash received from sales increased to ¥876,388,300.67, a 36.95% increase compared to the previous period[11] - Cash paid for operating activities rose to ¥504,720,230.55, reflecting a 100.68% increase from the previous period[11] - Cash obtained from borrowings surged to ¥1,099,567,084.00, marking a 559.03% increase compared to the last period[11] - Cash paid for debt repayment increased to ¥815,004,050.00, a 92.40% rise from the previous period[11] - Operating cash inflow for the current period was $1,157,807,601.01, an increase of 25.6% compared to $921,959,868.07 in the previous period[22] - Net cash outflow from operating activities was -$707,725,082.23, worsening from -$522,873,732.88 in the previous period[23] - Cash inflow from financing activities was $1,099,567,084.00, significantly higher than $166,846,824.06 in the previous period, indicating a strong financing effort[23] - Net cash flow from financing activities improved to $270,270,015.68 from -$263,330,168.23, showing a positive turnaround[23] - Cash and cash equivalents at the end of the period totaled $1,473,238,163.31, compared to $825,780,676.77 in the previous period, marking a 78.6% increase[23] Expenses - The company's sales expenses increased by 32.60% to ¥33,305,189.98, primarily due to higher sales personnel costs[9] - The financial expenses surged by 277.05% to ¥6,450,318.25, mainly due to increased financing costs[9] - Total operating costs amounted to ¥745,973,616.08, up from ¥664,399,230.33, reflecting a growth of 12.3%[18] - Research and development expenses for the current period were ¥55,344,909.63, compared to ¥50,226,269.78, showing an increase of 10.4%[18] Shareholder Information - The total number of common shareholders at the end of the reporting period was 49,267[13] - The largest shareholder, Wu Qiang, holds 20.16% of the shares, totaling 72,477,904 shares[13] Other Financial Metrics - The weighted average return on equity increased to 3.97%, up from 2.86% in the previous year[5] - The company received government subsidies amounting to ¥4,687,318.06, which are closely related to its main business operations[6] - The company reported a significant decrease in cash received from tax refunds, dropping by 88.22% to ¥2,154,856.02[11] - The company reported an investment loss of ¥2,181,070.59, a decline from a gain of ¥128,548.77 in the previous period[19] - Deferred income tax assets increased to ¥76,987,507.89 from ¥72,724,822.32, reflecting a growth of 5.2%[16] Inventory and Receivables - Accounts receivable amounted to ¥2,321,877,050.65, compared to ¥2,242,320,195.86 previously[14] - Inventory increased to ¥1,698,734,913.70, up from ¥1,457,670,184.03 in the prior period[14]

公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 募集资金存放与使用情况鉴证报告 苏公W[2025]E1185号 上能电气股份有限公司全体股东： 我们接受委托，对后附的上能电气股份有限公司（以下简称上能电气） 2024年度《募集资金存放与使用情况的专项报告》（以下简称"募集资金专 项报告"）进行了鉴证。 一、对报告使用者和使用目的的限定 本鉴证报告仅供上能电气年度报告披露时使用，不得用作任何其他目 的。我们同意将本鉴证报告作为上能电气年度报告的必备文件，随同其他文 件一起报送并对外披露。 二、董事会的责任 上能电气董事会的责任是提供真实、合法、完整的相关资料，按照中国 证券监督管理委员会《上市公司监管指引第2号——上市公司募集 ...

关于上能电气股份有限公司 非经营性资金占用及其他关联资金往来情况的专项 说明 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 苏公W[2025]E1186号 上能电气股份有限公司全体股东： 我们接受委托，按照中国注册会计师审计准则审计了上能电气股份有限公 司（以下简称上能电气）财务报表，包括 2024 年 12 月 31 日的合并及母公司资 产负债表，2024 年度的合并及母公司利润表、合并及母公司现金流量表、合并 及母公司所有者权益变动表以及相关财务报表附注，并于 2025 年 4 月 23 日出 具了苏公 W[2025]A518 号无保留意见审计报告。 根据中国证券监督管理委员会、中华人民共和国公安部、国务院国有资产监 ...

审计报告 苏公 W[2025]A518 号 上能电气股份有限公司全体股东： 上能电气股份有限公司 审计报告 2024 年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 | 传真：86（510）68567788 | Fax：86（510）68567788 | | --- | --- | | 电子信箱：mail@gztycpa.cn | E-mail：mail@gztycpa.cn | 一、审计意见 我们审计了上能电气股份有限公司（以下简称上能电气）财务报表，包括2024 年12月31日的合并及母公司资产负债表，2024年度的合并及母公司利润表、合并 及母公司现金流量表、合并及母公司所有者权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制， 公允反映了上能电气2024年12月31日的合并及母公司财务状况以及2024年度的 合并及母公司经营成 ...

公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 内部控制审计报告 苏公 W[2025]E1183 号 上能电气股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了上能电气股份有限公司（以下简称上能电气）2024年12月31日的财务报 告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部 控制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是上能 电气董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表 审计意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能 ...

兴业证券股份有限公司（以下简称"兴业证券"或"保荐机构"）作为上能 电气股份有限公司（以下简称"上能电气"或"公司"）向不特定对象发行可转 换公司债券的保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证券交 易所创业板股票上市规则》《上市公司监管指引第 2 号——上市公司募集资金管 理和使用的监管要求》《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》等有关规定，对上能电气 2024 年度募集资金存放与使用 情况进行了核查，具体情况如下： 一、募集资金基本情况 （一）募集资金到位情况 兴业证券股份有限公司 关于上能电气股份有限公司 2024 年度募集资金存放与使用情况的专项核查报告 经中国证券监督管理委员会《关于同意上能电气股份有限公司向不特定对象 发行可转换公司债券注册的批复》（证监许可【2022】929 号）文核准，公司公开 发行 42,000 万元可转换公司债券，每份面值 100 元，发行数量 420 万份，期限 6 年，募集资金总额人民币 42,000 万元，扣除发行费用人民币 538.396226 万元， 实际募集资金净额 41,461.603774 万元。以上募集资金 ...

兴业证券股份有限公司 关于上能电气股份有限公司 《2024年度内部控制自我评价报告》的核查意见 兴业证券股份有限公司（以下简称"兴业证券"或"保荐机构"）作为上能电气 股份有限公司（以下简称"上能电气"或"公司"） 2022年创业板向不特定对象发 行可转换公司债券及持续督导的保荐机构，根据《证券发行上市保荐业务管理办 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》等相关规定，对上能电气《2024年 度内部控制自我评价报告》的相关情况进行了核查，并出具核查意见如下： 一、保荐机构对公司《2024年度内部控制自我评价报告》的核查工作 兴业证券保荐代表人审阅了上能电气出具的《2024年度内部控制自我评价报 告》，取得会计师出具的标准无保留意见的《上能电气股份有限公司内部控制审 计报告》，与公司董事、监事、高级管理人员等有关人员进行沟通，查阅了公司 股东大会、董事会、监事会等会议文件、公司各项业务和管理制度、相关信息披 露文件等，对上市公司的内部控制情况进行核查。 二、公司对内部控制情况总体评价 根据上市公司内部控制自我评价报告：根据公司财务报告内部控 ...

公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 前次募集资金使用情况鉴证报告 苏公W[2025]E1187号 上能电气股份有限公司全体股东： 一、董事会的责任 按照中国证券监督管理委员会《监管规则适用指引——发行类第7号》 的规定编制前次募集资金使用情况报告，并保证其内容真实、准确、完整， 不存在虚假记录、误导性陈述或重大遗漏是上能电气董事会的责任。 二、注册会计师的责任 我们的责任是在实施鉴证工作的基础上对上能电气董事会编制的前次 募集资金使用情况报告提出鉴证结论。 三、工作概述 我们接受委托，对后附的上能电气股份有限公司(以下简称上能电气)截至 2024 年 12 月 31 日止的前次募集资金使用情况报告进行了鉴证。 我们按照《中国注册会计师其他鉴证业务准则第3101 号——历史财务 信息审计或审阅以外的鉴 ...

关于公司董事、高级管理人员减持结束的公告 公司持股 5%以上股东、副董事长段育鹤，董事、高级管理人员李建飞、陈运萍， 高级管理人员杨春明保证向本公司提供的信息内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 证券代码：300827 证券简称：上能电气 公告编号：2025-017 上能电气股份有限公司 三、其他相关说明 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 上能电气股份有限公司（以下简称"公司"）于 2024 年 12 月 24 日披露了《关 于公司部分董事、高级管理人员减持公司股份的预披露公告》（公告编号： 2024-075），公司持股 5%以上股东、董事段育鹤，董事、高级管理人员李建飞、 陈运萍，高级管理人员杨春明计划减持公司股份的预披露公告，具体内容详见巨 潮资讯网。 近日公司收到段育鹤、李建飞、陈运萍、杨春明先生出具的《减持结束的告 知函》，截至本公告披露日，段育鹤、李建飞、陈运萍、杨春明先生本次减持计 划结束，根据《深圳证券交易所上市公司自律监管指引第 18 号——股东及董事、 高级管理人员减持股份》等相关规定，现将具体进展情况公告如下： 一、股东减持股份情况 ...