Summary of Anker Innovations Conference Call Company Overview - **Company**: Anker Innovations - **Industry**: Consumer Electronics, Charging Solutions, Energy Storage, Smart Home Products Key Points and Arguments Charging Business - Anker's charging business accounts for approximately 50% of its revenue, showing significant growth potential despite intense competition and low product differentiation barriers [3][4] - The consumer electronics market is rapidly evolving, with many brands opting to purchase third-party chargers instead of including them with products [3] - Anker maintains a strong market position in small chargers due to its brand and channel advantages, being a leading player in cross-border e-commerce [3] - The company has consistently launched new products in medium chargers to maintain market share, benefiting from the growth in core consumer electronics like smartphones and PCs [3] Energy Storage Business - Anker is actively expanding its energy storage business, with expectations of growth in the U.S. market for balcony photovoltaic and emergency preparedness products by 2025 [3][5] - The company has completed its product layout for mobile home storage and balcony storage, with significant sales expected in 2025 [7][23] - Anker's technology and brand influence are expected to help it break into new channels in home energy storage [5] Product Innovation and Market Trends - Anker is launching new products in cleaning supplies, smart home, and security sectors, maintaining high growth rates through integrated platform control [6] - The global market for third-party smartphone chargers is estimated at approximately 80 billion yuan, with Anker holding a significant share in the Apple segment but lower in the Android segment [4][20] - The company plans to expand its product offerings in response to new Apple product launches, enhancing its market share [16] Competitive Landscape - The industry shows clear brand differentiation, with some brands growing while others decline. Chinese brands like Anker are gaining market share from international competitors [13] - Anker's competitive strategy includes modular design and direct engagement with installers, which enhances its product appeal and pricing advantages [26] Future Growth Projections - Anker expects overall revenue growth of around 25% in 2025, with a projected growth rate of about 20% in the following two years [6][27] - The balcony photovoltaic market is emerging, with potential market size exceeding 10 billion euros in Germany alone, driven by consumer demand and simplified installation processes [28][29] Strategic Focus - The company is focusing on fixed home energy storage as a key area for growth in 2025, alongside optimizing product line layouts and strengthening channel development, particularly in the U.S. [27] - Anker's strong offline channel expansion, especially in the U.S., Europe, and Latin America, positions it well for future growth [19][22] Regulatory and Market Challenges - Anker's exposure to tariff changes is relatively low, with tariff costs accounting for only 1-2% of revenue, allowing for price adjustments to maintain margins [37] Additional Important Insights - Anker has become one of the top ten suppliers in the global consumer camera market, with a strong presence in the U.S. [32] - The security camera market is experiencing growth, particularly in solar-powered models with AI features, which Anker is well-positioned to capitalize on [33][34] - Emerging products like lawn mowing robots are expected to provide new revenue streams and enhance Anker's market competitiveness [36]

三、本批复自同意注册之日起 12 个月内有效。 证券代码：300866 证券简称：安克创新 公告编号：2025-008 安克创新科技股份有限公司 关于向不特定对象发行可转换公司债券获得中国证券监督管理 委员会同意注册批复的公告 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。 安克创新科技股份有限公司（以下简称"公司"）于近日收到中国证券监督 管理委员会出具的《关于同意安克创新科技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〔2025〕166 号）（以下简称"批复"）， 批复文件主要内容如下： 一、同意公司向不特定对象发行可转换公司债券的注册申请。 二、公司本次发行应严格按照报送深圳证券交易所的申报文件和发行方案实 施。 四、自同意注册之日起至本次发行结束前，公司如发生重大事项，应及时报 告深圳证券交易所并按有关规定处理。 公司董事会将根据上述文件和相关法律法规的要求及公司股东大会的授权， 在规定的期限内办理本次向不特定对象发行可转换公司债券的相关事宜，并及时 履行信息披露义务。敬请广大投资者注意投资风险。 特此公告。 安克创新科技股份有限 ...

Investment Rating - The investment rating for Anker Innovations is maintained as "Buy" [1] Core Views - The report emphasizes that Anker Innovations is focusing on its core product categories, including small charging devices, medium and large storage solutions, and security products, which are expected to drive long-term growth. The company is well-positioned to leverage its brand strength and channel capabilities, particularly with backing from major players like Apple and Amazon [6][7][8]. Summary by Sections Financial Overview - As of February 5, 2025, the current stock price is 113.20 CNY, with a total market capitalization of 601.56 billion CNY and a circulating market capitalization of 335.53 billion CNY. The total number of shares is 5.31 billion, with a circulating share count of 2.96 billion. The turnover rate over the past three months is 91.47% [2]. Small Charging Devices - The small charging category, which includes chargers, power banks, and wireless chargers, is expected to maintain steady growth due to the company's strong brand and channel momentum. The market sizes for mobile chargers, power banks, and wireless chargers are projected to reach 800 billion CNY, 316 billion CNY, and 378 billion CNY, respectively. Anker's market share in the third-party charger segment is over 10% [7][25]. Medium and Large Storage Solutions - The medium and large storage market is identified as a significant growth area, with a global market size exceeding 10 billion USD. Anker has achieved full-scene coverage in portable storage, home storage, balcony solar storage, and fixed home storage. The report highlights 2025 as a critical year for growth in this segment, with opportunities in household storage and balcony solar storage [8][9]. Security Products - The smart security segment is expected to grow significantly, with a global market size projected to reach 10 billion USD. Anker's products in this category are noted for their superior storage and AI capabilities compared to overseas brands. The company has already ranked among the top in global and North American shipments [8][9]. Profit Forecast - The report maintains profit forecasts for Anker Innovations, projecting net profits of 20.42 billion CNY, 24.24 billion CNY, and 29.13 billion CNY for the years 2024, 2025, and 2026, respectively. Corresponding EPS figures are expected to be 3.84 CNY, 4.56 CNY, and 5.48 CNY, with current P/E ratios of 29.5, 24.8, and 20.6 for the respective years [6][10].

证券代码：300866 证券简称：安克创新 公告编号：2024-007 安克创新科技股份有限公司 2025 年第一次临时股东大会决议公告 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。 2、 召开地点：深圳市南山区沙河西路健兴科技大厦 B 座 4 楼 3、 召开方式：现场结合网络 4、 召集人：董事会 5、 主持人：董事长阳萌先生 6、 本次会议的召集、召开符合《中华人民共和国公司法》《上市公司股东大 会规则》《深圳证券交易所创业板股票上市规则》等有关法律、行政法规、部门 规章、规范性文件和《安克创新科技股份有限公司章程》的有关规定。 特别提示 1、 本次股东大会不存在否决议案的情形。 2、 本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、 召开时间：2025 年 1 月 23 日（星期四）15:00 二、会议出席情况 （一）股东出席的总体情况 参加本次股东大会现场会议和网络投票表决的股东及股东代理人共 291 人， 代表有表决权的公司股份数合计为 299,002,906 股，占公司有表决权股份总数 531,410,776 股的 ...

北京市海问律师事务所 关于安克创新科技股份有限公司 2025 年第一次临时股东大会的 北京 BEIJING 丨上海 SHANGHAI 丨深圳 SHENZHEN 丨香港 HONG KONG 丨成都 CHENGDU 1 一、 本次会议的召集和召开 法律意见书 致：安克创新科技股份有限公司 根据《中华人民共和国证券法》《中华人民共和国公司法》《上市公司股东 大会规则》（以下统称"有关法律"）及《安克创新科技股份有限公司章程》（以 下称"公司章程"）的规定，北京市海问律师事务所（以下称"本所"）作为安克创 新科技股份有限公司（以下称"公司"）的特聘法律顾问，应公司的要求，指派钱 珍律师以及黄珏律师（以下合称"本所律师"）出席公司于 2025 年 1 月 23 日召开 的安克创新科技股份有限公司 2025 年第一次临时股东大会（以下称"本次会议"）， 对本次会议召开的合法性进行见证，并依法出具本法律意见书。 在本法律意见书中，本所律师仅对本次会议召集和召开的程序、出席本次会 议人员的资格及表决程序是否符合有关法律和公司章程的规定以及本次会议审 议议案的表决结果发表意见，并不对本次会议所审议的议案内容以及该等议案所 表述 ...

Investment Rating - The investment rating for the company is "Buy" with a target price of 115.00 RMB [8][9]. Core Views - The company is expanding its product matrix with new launches such as solar beach umbrellas and AI-powered noise-canceling speakers, which are expected to drive high-quality revenue growth in 2025 [1][2]. - The introduction of new products, combined with the upcoming overseas traditional sales peak season, is anticipated to sustain the growth momentum observed in the first three quarters of 2024 [1]. - The company is entering the lawn mower robot market with its first smart lawn mower, which is expected to launch in Spring 2025, tapping into a market with significant growth potential [3]. - The company is actively expanding its overseas supply chain and reducing reliance on the U.S. market, with non-U.S. revenue reaching 5.25 billion RMB in the first half of 2024, a year-on-year increase of 36.7% [4]. Summary by Sections Product Expansion - At the 2025 CES, the company showcased several new products, including the Anker SOLIX solar beach umbrella and the eufy Clean E20, which is a versatile cleaning device set to launch at a price of 549 USD in North America [2]. Market Potential - The global penetration rate of lawn mower robots is currently only 7.5%, indicating substantial growth opportunities for the company as it leverages its supply chain capabilities and overseas operational experience [3]. Financial Projections - The company has adjusted its EPS forecasts for 2024-2026 to 3.82, 4.60, and 5.50 RMB, respectively, reflecting a positive outlook driven by new product introductions [5]. - The projected revenue for 2024 is 24.61 billion RMB, with a year-on-year growth rate of 40.57% [7]. Valuation - The company is assigned a 2025 PE ratio of 25 times, with a target price of 115 RMB, indicating a strong valuation relative to its peers [5].

证券代码：300866 证券简称：安克创新 公告编号：2025-002 安克创新科技股份有限公司 第三届董事会第二十六次会议决议公告 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。 具体内容详见公司披露于巨潮资讯网（www.cninfo.com.cn）的《关于新增 2024 年度担保额度及被担保方的公告》（公告编号：2025-004）。 一、董事会会议召开情况 安克创新科技股份有限公司（以下简称"公司"）第三届董事会第二十六 次会议于 2025 年 1 月 7 日（星期二）在长沙高新开发区尖山路 39 号长沙中电 软件园有限公司一期七栋 7 楼 701 室以现场结合通讯的方式召开。会议通知已 于 2025 年 1 月 2 日通过邮件或电话的方式送达各位董事。本次会议应出席董事 9 人，实际出席董事 9 人。 本次会议由董事长阳萌先生召集并主持，会议的出席人数、召集、召开程 序和审议内容均符合《中华人民共和国公司法》（以下简称"《公司法》"） 等有关法律法规、规范性文件及《安克创新科技股份有限公司章程》（以下简 称"《公司章程》"）的有关规定，会议合法有效。 二 ...

证券代码：300866 证券简称：安克创新 公告编号：2025-006 安克创新科技股份有限公司 关于召开 2025 年第一次临时股东大会通知的公告 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。 安克创新科技股份有限公司（以下简称"公司"）于 2025 年 1 月 7 日召开 第三届董事会第二十六次会议，审议通过了《关于召开 2025 年第一次临时股东 大会的议案》，决定于 2025 年 1 月 23 日（星期四）召开公司 2025 年第一次临 时股东大会，现将本次股东大会的有关事项通知如下： 一、召开会议的基本情况 1、股东大会届次：2025 年第一次临时股东大会。 2、股东大会的召集人：公司董事会。 3、会议召开的合法、合规性：经公司第三届董事会第二十六次会议审议通 过，决定召开公司 2025 年第一次临时股东大会。本次会议召集程序符合《深圳 证券交易所创业板股票上市规则》等相关法律法规和《公司章程》的规定。 4、会议召开时间： （1）现场会议：2025 年 1 月 23 日（星期四）下午 15:00 （2）网络投票： 公司将通过深圳证券交易所证券交易系 ...

中国国际金融股份有限公司 关于安克创新科技股份有限公司 使用部分超募资金偿还银行贷款的核查意见 中国国际金融股份有限公司（以下简称"中金公司"或"保荐机构"）作为 安克创新科技股份有限公司（以下简称"安克创新"或"公司"）首次公开发行 股票并在创业板上市的保荐机构，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》《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》等规则的要求，对安克创新使用部分超募资金偿 还银行贷款的事项进行了审慎核查，核查情况及核查意见如下： 一、募集资金基本情况 经中国证监会《关于同意安克创新科技股份有限公司首次公开发行股票注册 的批复》证监许可[2020]1592 号同意注册，安克创新股份有限公司（以下简称"公 司"或"安克创新"）向社会公众公开发行人民币普通股（A 股）股票 4,100 万 股，发行价为每股人民币 66.32 元，募集资金总额为人民币 271,912.00 万元，扣 除发行费用（不含增值税）合计人民币 144,934,655.95 元后，募集资金净额 ...

证券代码：300866 证券简称：安克创新 公告编号：2025-003 安克创新科技股份有限公司 第三届监事会第二十四次会议决议公告 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：公司使用部分超募资金偿还银行贷款，有利于提高 资金运用效率，实现股东利益最大化，符合有关规定及公司相关制度的要求， 履行了必要的审议程序。因此，同意关于使用部分超募资金及其利息收入等共 656.11 万元（以实际转出日的金额为准）偿还银行贷款的议案。 表决结果：同意 3 票，反对 0 票，弃权 0 票。本议案尚需提交公司股东大 会审议。 1 三、备查文件 1、第三届监事会第二十四次会议决议。 特此公告。 一、监事会会议召开情况 安克创新科技股份有限公司（以下简称"公司"）第三届监事会第二十四 次会议于 2025 年 1 月 7 日（星期二）在长沙高新开发区尖山路 39 号长沙中电 软件园有限公司一期七栋 7 楼 701 室以现场结合通讯的方式召开。会议通知已 于 2025 年 1 月 2 日通过邮件或电话的方式送达各位监事。本次会议应出席监事 3 人，实际出席监 ...