Financial Performance - The company achieved a revenue of 2.664 billion CNY in the first three quarters of 2024, representing a year-on-year increase of 28.95% [2] - The revenue for Q3 2024 was 1.064 billion CNY, with a year-on-year growth of 38.17% and a quarter-on-quarter increase of 17.83%, marking a new quarterly revenue record [2] - The gross profit margin for the first three quarters was 21.28%, up by 1.75 percentage points year-on-year, with Q3 gross profit margin at 21.78%, an increase of 2.02 percentage points year-on-year [2] Profitability - The net profit for the first three quarters was 157 million CNY, a significant year-on-year increase of 277.01%, with a net profit margin of 5.89%, up by 3.88 percentage points [3] - In Q3 2024, the net profit reached 70.79 million CNY, reflecting a year-on-year growth of 104.78% and a quarter-on-quarter increase of 28.04%, with a net profit margin of 6.65% [3] Business Development - The data center power supply business is a key long-term strategic focus, with the company recognized as a major domestic manufacturer, supplying to leading server manufacturers and maintaining close cooperation with top internet companies [3] - The company has launched high-power server power supply products, including models ranging from 800W to over 5,500W, and has developed solutions compliant with the Open Compute Project (OCP) standards [4] Other Business Segments - Revenue from other power supply segments reached 322 million CNY in the first half of 2024, a year-on-year increase of 63.15%, driven by the recovery of global demand for electric tools and the introduction of new customers [4] Capacity and Production - The company has established production bases in Shenzhen, Dongguan, Ganzhou, Suzhou, Vietnam, and Mexico to meet diverse market demands and is capable of increasing capacity based on customer needs [4] - The establishment of a production base in Suzhou supports the R&D efforts in Hangzhou [4] Future Goals - The company has set ambitious revenue growth targets for the next three years, with trigger values for revenue growth rates at 28%, 52%, and 72% for 2024-2026, and target values at 35%, 65%, and 90% respectively [5] - The net profit growth rate targets are set at 48%, 104%, and 200% for the same period, with corresponding target values of 60%, 130%, and 250% [5] Investor Relations - The investor relations activities took place from December 2 to December 6, 2024, with participation from various securities firms and asset management companies [2][6]

Investment Rating - The report assigns a "Buy" rating to the company, with a first-time coverage [11] Core Viewpoints - The company has a diversified product portfolio, serving data center clients with a range of power supply products, including high-power server power supplies and liquid-cooled server power solutions [13] - The company has established itself as a major domestic data center power supply manufacturer, with products highly recognized by leading server manufacturers and end customers [13] - The company has launched new liquid-cooled server products and continues to expand its market share in other power supply segments, such as power adapters and electric tool chargers [13] - The company's revenue from power adapters has shown a narrowing decline, while the electric tool charger business has experienced significant growth due to new customer acquisitions [13] Financial Projections - The company's revenue is projected to grow from 2,870 million yuan in 2023 to 5,508 million yuan in 2026, with a CAGR of 24.3% [15] - Net profit attributable to the parent company is expected to increase from 195.73 million yuan in 2023 to 403.88 million yuan in 2026, with a CAGR of 27.4% [15] - EPS is forecasted to rise from 1.93 yuan in 2023 to 3.99 yuan in 2026 [15] - The company's P/E ratio is expected to decrease from 43.85 in 2023 to 21.25 in 2026, indicating potential undervaluation [15] Financial Ratios - The company's gross margin is projected to remain stable at around 22% from 2024 to 2026 [17] - ROE is expected to increase from 10.5% in 2023 to 14.2% in 2026, reflecting improved profitability [17] - The debt-to-asset ratio is forecasted to rise from 50.5% in 2023 to 60.8% in 2026, indicating increased leverage [17] Business Highlights - The company has successfully supplied power products to major server manufacturers such as Inspur, Foxconn, Lenovo, and ZTE [13] - The company has introduced innovative liquid-cooled server power solutions, including 30kw PowerShelf and ATS2.5KWPSU, combining liquid cooling and centralized power supply advantages [13] - The company's electric tool charger business has seen significant growth due to the normalization of global demand and new customer acquisitions [13]

Group 1: Financial Performance - In the first three quarters of 2024, the company achieved operating revenue of 2.664 billion yuan, a year-on-year increase of 28.95% [2] - The operating revenue for the third quarter was 1.064 billion yuan, representing a year-on-year growth of 38.17% and a quarter-on-quarter increase of 17.83%, setting a new record for quarterly revenue [2] - The gross profit margin for the first three quarters was 21.28%, an increase of 1.75 percentage points year-on-year [3] - The net profit for the first three quarters was 157 million yuan, a year-on-year increase of 277.01%, with a net profit margin of 5.89%, up by 3.88 percentage points [3] - The net profit for the third quarter was 70.79 million yuan, a year-on-year increase of 104.78% and a quarter-on-quarter increase of 28.04%, with a net profit margin of 6.65%, up by 2.16 percentage points year-on-year [3] Group 2: Business Development and Strategy - The company has become one of the leading domestic manufacturers of data center power supplies, recognized by major server manufacturers and end customers [4] - The data center power supply business is a long-term strategic focus, with significant R&D investment and business expansion [4] - The company has launched immersion liquid cooling power supply solutions, combining the advantages of immersion cooling and centralized power supply [4] - In the first half of 2024, the revenue from other power supply businesses was 322 million yuan, a year-on-year increase of 63.15% [5] Group 3: Future Goals and Targets - The company has set revenue growth targets for the next three years, with trigger values for revenue growth rates of 28%, 52%, and 72% for 2024-2026, and target values of 35%, 65%, and 90% respectively [5] - The net profit growth rate trigger values for the same period are set at 48%, 104%, and 200%, with target values of 60%, 130%, and 250% respectively [5]

证券代码：300870 证券简称：欧陆通 公告编号：2024-072 债券代码：123241 债券简称：欧通转债 深圳欧陆通电子股份有限公司 关于控股股东部分股份解除质押的公告 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。 深圳欧陆通电子股份有限公司（以下简称"公司"）近日接到控股股东深圳 市格诺利信息咨询有限公司（以下简称"格诺利"）的通知，获悉格诺利将其持 有的公司部分股份办理了解除质押业务。具体事项如下： 一、股东股份解除质押的基本情况 | 占其 | 股东名 | 是否为控股股东或 | | | 占公 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 所持 | | 第一大股东及其一 | 本次解除质 | | 司总 | 起始 | | 解除 | | 质权人 | | 比例 | 称 | 致行动人 | 押数量（股） | 股份 | 股本 比例 | 日 | | 日期 | | | | 41.73 | | 是，控股股东之一 | 12,200,000 | | 12. ...

证券代码：300870 证券简称：欧陆通 债券代码：123241 债券简称：欧通转债 编号：（2024-008） 深圳欧陆通电子股份有限公司 投资者关系活动记录表 | --- | --- | |-----------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | 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 （线上会议或券商策略会） | | 参与单位名称 | 大成基金、中信建投证券、南方基金、国寿安保基金、光大 证券、圆信永丰基金、光大永明、东北证券、泰信基金、信 达澳亚基金、中欧基金、中 ...

近日，公司已经完成了经营范围、公司地址"一照多址"变更的工商登记手 续，对《公司章程》进行了工商备案，并取得了由深圳市场监督管理局换发的《营 业执照》及工商登记通知书。具体变更事项如下： | 变更 | | 变更前 | 变更后 | | --- | --- | --- | --- | | 类型 | | | | | 住所 | 深圳市宝安区航城街道三围社区航城大 | | 深圳市宝安区航城街道三围社区航城大 | | | 道 175 号南航明珠花园 1 栋 19 号 | | 道 175 号南航明珠花园 1 栋 19 号（一照 | | | | | 多址企业） | | 经营 | | 生产、销售：各类高频开关电源、电源 | 一般经营项目：非居住房地产租赁。（除 | | 范围 | | 适配器、稳压电源、低压电源、电源控 | 依法须经批准的项目外，凭营业执照依法 | | | | 制器、充电器、变压器、逆变器、冗余 | 自主开展经营活动）生产、销售：各类高 | | 电源、变频器、整流模块、传感器、发 | 频开关电源、电源适配器、稳压电源、低 | | --- | --- | | 射器、转换器及带有集成电路的电路板、 | 压电源、电源控 ...

深圳欧陆通电子股份有限公司 章程 2024 年 9 月 1 | 第一章 总 | 则 3 | | --- | --- | | 第二章 | 经营宗旨和范围 3 | | 第三章 股 | 份 4 | | 第一节 | 股份发行 4 | | 第二节 | 股份增减和回购 5 | | 第三节 | 股份转让 6 | | 第四章 | 股东和股东大会 7 | | | 第一节 股 东 7 | | | 第二节 股东大会的一般规定 9 | | | 第三节 股东大会的召集 13 | | | 第四节 股东大会的提案与通知 14 | | 第五节 | 股东大会的召开 16 | | 第六节 | 股东大会的表决和决议 19 | | | 第五章董事会 23 | | | 第一节董事 23 | | | 第二节 董事会 26 | | | 第六章 总经理及其他高级管理人员 30 | | | 第七章 监事会 32 | | 第一节 | 监 事 32 | | | 第二节 监事会 33 | | | 第八章 财务会计制度、利润分配和审计 34 | | | 第一节 财务会计制度 34 | | | 第二节 内部审计 38 | | | 第三节 会计师事务所的聘任 38 | ...

证券代码：300870 证券简称：欧陆通 公告编号：2024-070 债券代码：123241 债券简称：欧通转债 深圳欧陆通电子股份有限公司 关于控股股东部分股份质押的公告 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。 深圳欧陆通电子股份有限公司（以下简称"公司"）近日接到控股股东深圳 市格诺利信息咨询有限公司（以下简称"格诺利"）的通知，获悉格诺利将其持 有的公司部分股份办理了质押业务。具体事项如下： 一、股东股份质押的基本情况 （2）王越王指南京王越科王创业投资合伙企业(有限合伙)，原名为深圳市王越王投资合伙 企业（有限合伙）；通聚指泰州通聚信息技术咨询合伙企业（有限合伙），原名为深圳市通聚信 息技术咨询合伙企业（有限合伙）。 （3）本公告中出现总数与各分项数值之和尾数不符的情况，均为四舍五入原因造成。 二、其他说明 目前，公司控股股东及其一致行动人资信状况良好，具备相应的资金偿付能 力，其质押的股份不存在平仓风险，质押事宜不会导致公司实际控制权发生变更。 截至本公告披露日，公司控股股东不存在非经营性资金占用、违规担保等侵害上 市公司利益的情形。 | | ...

债券代码：123241 债券简称：欧通转债 证券代码：300870 证券简称：欧陆通 公告编号：2024-068 深圳欧陆通电子股份有限公司 2024年第二次临时股东大会决议公告 1、会议召开时间： （1）现场会议召开时间：2024 年 11 月 18 日（星期一）15:00。 （2）网络投票时间：2024 年 11 月 18 日。 其中：通过深圳证券交易所（以下简称"深交所"）交易系统投票的时间为 2024 年 11 月 18 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深交所互联网 投票系统（http://wltp.cninfo.com.cn）投票的时间为 2024 年 11 月 18 日 9:15- 15:00。 2、会议召开地点：深圳市宝安区航城大道175号南航明珠花园1栋19号欧陆 通。 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： 1、本次股东大会无否决议案的情形。 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 （一）会议召开情况 3、会议的召开方式：本次股东大会采用现场表 ...

法律意见书 网站（Website）：www.sundiallawfirm.com 广东信达律师事务所 关于深圳欧陆通电子股份有限公司 2024年第二次临时股东大会的 法律意见书 信达会字（2024）第310号 致：深圳欧陆通电子股份有限公司 广东信达律师事务所（以下称"信达"）接受深圳欧陆通电子股份有限公司（以 下称"公司"）的委托，指派信达律师出席公司2024年第二次临时股东大会（以下 称"本次股东大会"），对本次股东大会的合法性进行见证。 信达律师根据《中华人民共和国公司法》（以下称"《公司法》"）、《上市 公司股东大会规则》（以下称"《股东大会规则》"）等法律、法规和规范性法律 文件以及《深圳欧陆通电子股份有限公司章程》（以下称"《公司章程》"）的规 定，就公司本次股东大会的召集、召开程序、出席会议人员的资格、召集人的资 格、表决程序和表决结果等有关事宜出具本法律意见书。 本法律意见书仅供公司本次股东大会相关事项的合法性之目的使用，不得用 1 法律意见书 作任何其他目的，信达律师同意将本法律意见书随公司本次股东大会决议一起予 以公告，并依法对本法律意见书承担相应的责任。 中国 深圳 福田区 益田路600 ...