Financial Performance - The company's operating revenue for the first half of 2023 reached ¥2,176,956,500.93, representing a 416.58% increase compared to ¥421,420,197.68 in the same period last year[26]. - The net profit attributable to shareholders was ¥135,143,110.75, a significant increase of 488.54% from ¥22,962,564.22 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was ¥129,111,776.19, reflecting a 594.43% increase from ¥18,592,530.10 year-on-year[26]. - The basic earnings per share rose to ¥0.39, up 457.14% from ¥0.10 in the same period last year[26]. - The total assets at the end of the reporting period were ¥5,625,135,280.72, marking a 21.89% increase from ¥4,615,016,490.83 at the end of the previous year[26]. - The net assets attributable to shareholders increased by 49.51% to ¥1,537,017,199.81 from ¥1,028,061,606.92 at the end of the previous year[26]. - The company's revenue for the first half of 2023 reached ¥2,176,956,500.93, a significant increase of 416.58% compared to ¥421,420,197.68 in the same period last year[79]. - Revenue from the photovoltaic industry was CNY 1,302,539,495.71, accounting for 59.83% of total revenue, with a year-on-year increase of 275.55%[83]. - Revenue from the energy storage industry surged to CNY 817,543,962.67, representing 37.55% of total revenue, marking a dramatic increase of 2,048.15% compared to CNY 38,058,053.07 last year[84]. - The gross profit margin for photovoltaic inverters was 19.85%, while the gross profit margin for energy storage systems was 11.82%, reflecting a decrease of 0.97% and 16.91% respectively compared to the previous year[82]. Market Expansion and Strategy - The company plans to enhance its research and development efforts to accelerate the launch of new products to meet diverse market demands[6]. - The company aims to expand its market share in energy storage and system integration products to mitigate the impact of policy changes in the photovoltaic sector[4]. - The company is actively expanding its overseas market presence, focusing on regions such as North America for large-scale energy storage projects and Europe for distributed photovoltaic and household storage markets[49]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2024[140]. - The company is considering strategic acquisitions to enhance its product portfolio, with potential targets identified in the renewable energy sector[160]. - The company is actively pursuing market expansion strategies, targeting a 10% increase in market share within the next year[169]. Research and Development - Research and development investment increased by 113.96% to ¥87,692,368.07 from ¥40,985,483.28, indicating a commitment to innovation[79]. - The company has established four major R&D centers and three manufacturing bases, focusing on automation and intelligent production to enhance efficiency[70]. - The company is focused on product innovation and has invested in research and development in the field of power electronics[127]. - Research and development investments have increased by 30%, focusing on innovative technologies to enhance product offerings[168]. Operational Efficiency and Cost Management - Operating costs also rose to ¥1,799,048,638.18, reflecting a 455.70% increase from ¥323,747,410.94, primarily due to expanded sales[79]. - The company aims to reduce operational costs by 15% through efficiency improvements and automation initiatives by the end of 2023[138]. - The management has set a performance guidance of achieving a net profit margin of 20% for the upcoming quarter[175]. Risk Management - The company faces risks related to policy changes in the renewable energy sector, which could impact profitability, and plans to expand overseas markets to mitigate this risk[109]. - The company is at risk of declining gross margins due to rising raw material prices and increased competition, and it aims to enhance R&D and product offerings to maintain competitiveness[110]. - The company has a significant amount of accounts receivable, which poses a risk of bad debts, and it plans to strengthen receivables management[111][113]. - The company is exposed to foreign exchange risks as its export business grows, and it will enhance its ability to manage these risks through hedging strategies[114]. Shareholder and Governance Policies - The company does not plan to distribute cash dividends or issue new shares from capital reserves for the half-year period[122]. - The company has a profit distribution policy that aligns with its articles of association, particularly regarding cash dividends for shareholders[128]. - The company has committed to distributing cash dividends of no less than 10% of the distributable profits each year[165]. - The company has established a mechanism to adjust its profit distribution policy based on operational conditions and external market changes, subject to regulatory compliance[145]. Sustainability and Social Responsibility - The company is committed to environmental protection and does not belong to the key pollutant discharge units as per environmental authorities[126]. - The company actively fulfills social responsibilities, focusing on quality management and shareholder rights protection[127]. - The company has committed to sustainability initiatives, aiming for a 50% reduction in carbon emissions by 2025[170]. Future Outlook - The company has set a revenue guidance for the second half of 2023, projecting an increase of 15% compared to the first half, aiming for approximately 1.725 billion yuan[138]. - The company provided a positive outlook for the second half of 2023, projecting a revenue growth of 20% to 30%[162]. - New product launches are expected to contribute an additional 200 million yuan in revenue by the end of 2023, with a focus on innovative technologies in the energy sector[139]. - The company plans to issue convertible bonds to unspecified targets, with commitments from major shareholders to not participate in the subscription if they have reduced their stock holdings in the past six months[171].

Group 1: Market Insights - The global photovoltaic (PV) installation is expected to maintain rapid growth in 2023, particularly in domestic ground-mounted PV stations, which are anticipated to double in capacity [4] - Global energy storage installations will remain concentrated in China and the United States, with domestic energy storage expected to double this year due to recent declines in battery cell prices [4] Group 2: Competitive Landscape - The entry of new manufacturers in string inverters is high, but few are entering the centralized inverter market due to its higher technical complexity and the need for extensive experience in high-power power electronics [3] - Factors considered in bidding for large ground-mounted power stations include bid price, company qualifications, past performance, product quality, and technical specifications [7] Group 3: International Expansion - In 2022, the company's overseas revenue primarily came from India, Greece, Spain, and South Korea, with plans to expand into European ground PV, North American energy storage, and markets in the Middle East, Brazil, Southeast Asia, and South Africa [5] - The company has established sales networks in major overseas markets, focusing on direct sales for large customers and channel sales for distributed PV and household storage [5] Group 4: Product Development and Profitability - The company is actively monitoring micro-inverters and hydrogen production through electrolysis [6] - The overall gross margin is expected to improve with the increase in high-margin product sales and the reduction of expense ratios as the business scales [6] Group 5: Pricing Trends - There has been no significant fluctuation in bidding prices for large projects due to a substantial increase in demand and tight supply of IGBT for PV inverters and energy storage PCS [8] - However, the bidding prices for energy storage system integration have seen a notable decline due to fluctuations in battery cell prices [8] Group 6: European Market Outlook - The European market for household PV and energy storage still has significant growth potential, with the company having completed certification for its household PV inverters in major European countries [9] - The company is actively positioning itself in the European household PV and storage market, expecting to achieve large-scale sales in the second half of the year [9]

| 投资者关系活动类别 | □特定对象调研 | □分析师会议 | | --- | --- | --- | | | □媒体采访 | ■业绩说明会 | | | □新闻发布会 | □路演活动 | | | □电话会议 | □现场参观 | | 参与人员姓名及单位名称 | 参与公司 2022 者 | 年度网上业绩说明会的投资 | | 时间 | 2023 年 5 月 10 日 | 15:00-17:00 | | 地点 | | 全景•路演天下（http://rs.p5w.net） | | 公司接待人员姓名 | 董事长：吴强 | | | | 董事会秘书、财务总监：陈运萍 | | | | 独立董事：纪志成 | | | 投资者关系活动主要内容介绍 | 详见会议纪要 | | | 日期 | 2023 年 5 月 10 日 | | 上能电气股份有限公司 2022 年度网上业绩说明会的会议纪要 编号：2023-002 上能电气股份有限公司 投资者关系的活动记录表 股票简称：上能电气 证券代码：300827 编号：2023-002 时间：2023 年 5 月 10 日 15:00 形式：文字互动 主要问题及答复如下： 1、请介绍一下公司 2 ...

| 证券代码：300827 | 证券简称：上能电气 | 公告编号：2023-041 | | --- | --- | --- | | 债券代码：123148 | 债券简称：上能转债 | | 上能电气股份有限公司 关于举行 2022 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。 上能电气股份有限公司（以下简称"公司"）《2022 年年度报告》全文及摘 要已于 2023 年 4 月 27 日在中国证监会指定网站和媒体上披露。 为使广大投资者能够更深入、更全面地了解公司 2022 年度经营情况，公司 定于 2023 年 5 月 10 日（星期三）下午 15:00-17:00 在全景网举办 2022 年度业 绩说明会，本次年度业绩说明会将会采用网络远程的方式举行，投资者可登录全 景"投资者关系互动平台"（http://ir.p5w.net）参与本次年度业绩说明会。 出席本次业绩说明会的人员有：公司董事长吴强先生，财务总监兼董事会秘 书陈运萍先生，独立董事纪志成先生。 为充分尊重投资者、提升交流的针对性，现就公司 2022 年度业绩说明会提 前 ...

Cash Flow and Operating Activities - The net cash flow from operating activities was -488,059,108.94 CNY, compared to -402,557,418.44 CNY in the previous year, indicating a decline of approximately 21.3%[2] - Total operating cash inflow reached 602,302,483.48 CNY, up from 443,271,205.36 CNY, reflecting an increase of about 35.9%[2] - Cash outflow from operating activities increased to 1,090,361,592.42 CNY, compared to 845,828,623.80 CNY, marking a rise of approximately 29.0%[2] - The company's cash flow from operating activities showed a net outflow of ¥488,059,108.94, which is a 21.24% increase in outflow compared to ¥402,557,418.44 in the same period last year[36] - The net cash flow from financing activities was -¥17,561,029.46, an improvement from -¥30,483,353.40 in the previous year, indicating better cash management[46] Assets and Liabilities - The company's total current assets rose to 4,275,145,889.77 CNY from 4,142,983,025.48 CNY, an increase of about 3.2%[3] - The total liabilities increased to 3,682,610,027.38 CNY from 3,586,954,883.91 CNY, reflecting a growth of approximately 2.7%[6] - The company's total assets increased to 4,760,736,155.97 CNY from 4,615,016,490.83 CNY, representing a growth of about 3.2%[6] Revenue and Profit - Total operating revenue for Q1 2023 reached ¥620,146,996.73, a significant increase of 184.83% compared to ¥218,064,588.66 in the same period last year[14] - Total operating costs for Q1 2023 were ¥581,239,182.95, up 179.00% from ¥208,180,030.27 in Q1 2022[14] - Net profit for Q1 2023 was ¥36,516,585.64, representing a 126.80% increase from ¥16,115,560.54 in Q1 2022[16] - The total profit for Q1 2023 was ¥37,421,312.52, an increase of 148.00% from ¥15,025,642.91 in the previous year[16] - The net profit attributable to shareholders for Q1 2023 was ¥36,516,585.64, up 126.59% from ¥16,115,560.54 in Q1 2022[36] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥31,965,521.03, reflecting a 120.17% increase from ¥14,518,549.45 in the previous year[36] Expenses - Research and development expenses increased to ¥34,027,855.63, up 83.61% from ¥18,526,866.95 in the previous year[14] - The company experienced a 332.51% rise in non-operating expenses, totaling ¥105,317.03 compared to ¥24,349.93 in Q1 2022[29] - The company reported a tax expense of ¥904,726.88, a significant increase from a tax benefit of -¥1,089,917.63 in Q1 2022[29] - Research and development expenses for Q1 2023 were ¥34,027,855.63, an increase of 83.67% from ¥18,526,866.95 in the previous year, indicating a focus on innovation[38] - The company experienced a 72.07% decrease in employee compensation payable, amounting to ¥9,770,542.56, due to the payment of last year's bonuses[38] Shareholder Information - The total number of common shareholders at the end of the reporting period is 30,579[48] - The largest shareholder, Wu Qiang, holds 21.34% of the shares, amounting to 50,706,000 shares[48] - The second-largest shareholder, Duan Yuhe, holds 9.95% of the shares, totaling 23,653,012 shares[48] - The third-largest shareholder, Wuxi Shuo Hong Investment, owns 8.86% of the shares, which is 21,060,000 shares[48] - The top ten unrestricted shareholders include Duan Yuhe with 5,913,253 shares and Jiang Zhengmao with 4,830,120 shares[49] - Wu Qiang, the controlling shareholder, holds significant stakes in multiple investment firms, including 48.95% in Shuo Hong Investment[49] Other Financial Metrics - The cash received from investment activities was 149,599,269.56 CNY, down from 175,136,509.15 CNY, indicating a decrease of about 14.6%[2] - The cash outflow from investment activities was 161,013,303.16 CNY, compared to 186,862,212.47 CNY, showing a decline of approximately 13.8%[2] - The cash received from loans was 69,861,117.00 CNY, compared to 42,000,000.00 CNY, reflecting an increase of approximately 66.5%[2] - Investment income surged by 525.06% to ¥853,269.56 from ¥136,509.15 in the same quarter last year[29] - The company reported a significant increase in interest income, which rose by 446.86% to ¥5,387,535.49 compared to ¥985,170.39 in Q1 2022[29] - Earnings per share for Q1 2023 were ¥0.15, compared to ¥0.07 in the same quarter last year[16] - The basic earnings per share for Q1 2023 was ¥0.15, an increase of 114.29% compared to ¥0.07 in Q1 2022[36] Audit Status - The first quarter report has not been audited[51]

Market Position and Performance - The company ranked first in the domestic market for energy storage PCS shipments in 2022, according to the China Energy Storage Industry Technology Alliance (CNESA) statistics[2]. - The company has secured significant results in domestic market tenders, reinforcing its leading position in the ground-mounted photovoltaic power station sector[36]. - The global new energy storage installation capacity reached 12,166 MW in 2022, indicating a growing market[47]. - The company achieved a sales revenue of 830 million yuan from domestic ground photovoltaic inverters in 2022, representing a year-on-year growth of 31.78%[122]. - As of the end of the reporting period, the company had over 12 GW of orders for domestic ground photovoltaic inverters[122]. - The company is focusing on expanding its domestic ground photovoltaic business to capture a larger market share, especially with the anticipated rapid growth in installed capacity in 2023[122]. - The company is expanding its overseas market presence, focusing on large-scale energy storage projects in North America and distributed energy storage in Europe[36]. - The company has established sales companies in Europe, the Middle East, and India, aiming to expand its global sales service network and has secured multiple large-scale orders, including a 240MW project in Spain and a 746MW project in Saudi Arabia[137]. Financial Performance - Total revenue for 2022 reached ¥2,338,541,793.58, a 114.08% increase from ¥1,092,374,265.79 in 2021[50]. - Revenue from the photovoltaic industry was ¥1,224,240,727.17, accounting for 52.35% of total revenue, with a year-on-year growth of 38.62%[50]. - Revenue from the energy storage industry surged to ¥1,021,585,640.07, representing 43.69% of total revenue, with an impressive year-on-year increase of 621.85%[50]. - The company achieved operating revenue of 2.339 billion yuan, a year-on-year increase of 114.08%, and a net profit attributable to shareholders of 81.5649 million yuan, up 38.46% year-on-year[135]. - The cash flow from operating activities was 151 million yuan, reflecting a year-on-year increase of 34.42%[135]. - The net profit attributable to shareholders for 2022 was CNY 81,564,868.27, a 38.46% increase from the previous year[184]. - The net cash flow from operating activities for 2022 was CNY 150,562,115.61, up 34.42% from 2021[184]. - The basic earnings per share for 2022 was CNY 0.34, a 36.00% increase compared to 2021[184]. Research and Development - The company's research and development investment reached 144 million yuan, accounting for 6.17% of revenue, with a year-on-year increase of 55.40%[12]. - The company has established four major R&D centers in Shenzhen, Wuxi, Chengdu, and Suzhou, with R&D personnel accounting for 26.48% of the total workforce[11]. - The company has obtained 188 authorized patents, supporting its leading position in R&D and innovation[14]. - The company is developing a new generation of high-power centralized inverters, aiming for industry-leading performance metrics[70]. - The company is committed to increasing its R&D investment and talent acquisition to enhance its competitiveness in the photovoltaic and energy storage sectors[138]. - The company has increased its R&D personnel to 269 in 2022, a rise of 20.09% from 224 in 2021[86]. Product Development and Innovation - The maximum efficiency of the company's inverters has exceeded 99%, achieved through the use of advanced semiconductor materials and innovative control algorithms[10]. - The company has launched multiple new technology solutions, including integrated inverter and boost technology, and has received positive market feedback[11]. - The company is enhancing its distributed inverter series to improve competitiveness in both domestic and overseas markets[73]. - New products are being developed to meet the growing demand for household string inverters, with significant improvements in performance and cost[73]. - The company is focused on enhancing its competitive edge in the energy storage sector through continuous technological investments and improvements[77]. - The company is developing a broadband PLC project for wireless communication in photovoltaic sub-arrays, aiming to reduce installation and maintenance costs[82]. Operational Efficiency and Management - The company has implemented a new KPI assessment system to enhance management efficiency and optimize operational performance[48]. - The company is advancing its information technology infrastructure, integrating automation in new facilities to improve operational efficiency[48]. - The company aims to optimize its management level through collaboration with external consulting firms and the introduction of digital operational frameworks[138]. - The company has established a transparent performance evaluation system for senior management, ensuring accountability and compliance with legal standards[170]. Supply Chain and Risk Management - The main raw materials used in the company's products are electronic components, with IGBT power modules being the core component, primarily sourced from foreign manufacturers[159]. - The company has strengthened strategic partnerships with suppliers and optimized its supplier structure to ensure supply chain security[160]. - The company faces risks related to policy changes, potential declines in gross margins, and large accounts receivable, and has outlined measures to mitigate these risks[142][143][151]. - The company is actively monitoring industry supply dynamics to mitigate risks associated with raw material shortages and price volatility[160]. Investor Relations and Corporate Governance - The company has conducted various investor communication activities to discuss its operational performance and future development outlook for 2023[163]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[168]. - The company emphasizes investor relations management, providing multiple channels for investor communication and feedback[169]. - The company maintains complete control and ownership of its assets, ensuring no asset or funds are misappropriated by the controlling shareholder[188].

上能电气股份有限公司 投资者关系的活动记录表 股票简称：上能电气 证券代码：300827 编号：2020-001 | --- | --- | --- | |------------------------|------------------------|------------------------------| | | | | | | | □特定对象调研 □分析师会议 | | | □媒体采访 □业绩说明会 | | | 投资者关系活动类别 | □ | 新闻发布会 □路演活动 | | | ■现场参观 □其他 | | | | 1、华创证券 杨达伟 | | | 参与人员姓名及单位名称 | 2、广发基金 曹越 | | | | 3 、长信基金 张凯 | | | 时间 | 2020 年 6 月 5 | 日 10:00 | | 地点 | 无锡市惠山区和惠路 | 6 号上能电气股份有 | | | 限公司二楼会议室 | | | | 董事长：吴强 | | | 公司接待人员姓名 | | 董事会秘书兼财务总监：陈运萍 | | | | 解决方案事业部副总经理：王莉 | | | 证券事务代表：万迎花 | | 投资者关系活动主要内容介 ...

上能电气股份有限公司 投资者关系的活动记录表 股票简称：上能电气 证券代码：300827 编号：2020-002 | --- | --- | --- | |------------------------|------------------------|------------------------------| | | | | | | | □特定对象调研 □分析师会议 | | | □媒体采访 □业绩说明会 | | | 投资者关系活动类别 | □ 新闻发布会 □路演活动 | | | | ■电话会议 □现场参观 | | | | 1 、华创证券 杨达伟 | | | | 2 、华泰证券 孙纯鹏 | | | 参与人员姓名及单位名称 | 3 、中信证券 林劼 | | | | 4 、新时代证券 丁亚 | | | | 5 、华安基金 辛蔚 | | | 时间 | 2020 年 9 月 8 | 日 15:30 | | 地点 | 无锡市惠山区和惠路 | 6 号上能电气股份有 | | | 限公司三楼会议室 | | | 公司接待人员姓名 | 董事长：吴强 | | | | | 董事会秘书兼财务总监：陈运萍 | | --- | -- ...

上能电气股份有限公司 投资者关系的活动记录表 股票简称：上能电气 证券代码：300827 编号：2020-003 | --- | --- | --- | --- | |------------------------|-------|--------------------------|-----------------------------------| | | | | | | | | | ■特定对象调研 □分析师会议 | | | | □媒体采访 □业绩说明会 | | | 投资者关系活动类别 | | □ 新闻发布会 □路演活动 | | | | | □电话会议 □现场参观 | | | 参与人员姓名及单位名称 | | 1 、华创证券 杨达伟 | | | | | 2 | 、兴业证券 范昭楠、陶宇鸥、陈俊哲 | | | | 3 、中信证券 林劼 | | | | | 4 、中金证券 蒋昕昊 | | | | | 5 | 、国泰君安 庞钧文、胥本涛 | | | | 6 、申万宏源 张雷 | | | | | 7、华安基金 李欣、辛蔚 | | | | | 8 、华商基金 陈夏琼 | | | | | 9 、汇蠡投资 许成 王 ...

上能电气股份有限公司 投资者关系的活动记录表 股票简称：上能电气 证券代码：300827 编号：2021-002 | --- | --- | --- | |------------------------|-----------------------------|---------------------------| | | | | | | | ■特定对象调研 □分析师会议 | | | | □媒体采访 □业绩说明会 | | 投资者关系活动类别 | □新闻发布会 □路演活动 | | | | □现场参观 □其他 | | | | 1 、中金证券 | 蒋昕昊、张钰琪 | | | 2 、光大控股 | 陆宇 | | | 3 、天际线投资 | 陈晓坚 | | | 4 、羲和资产 | 侯兵、张鹏 | | | 5 、华泰证券 孙纯鹏 | | | | 6 、中信证券 华鹏伟、张志强 | | | | 7 、三峡资本 赤东阳、邱莳 | | | | 8、招商基金 巫亚军 | | | | 9、国泰君安 叶益 | | | 参与人员姓名及单位名称 | 10 、五矿国际信托 王子振 | | | | 11 、华泰证券 | 孙纯鹏 | | | ...