Investment Rating - The report maintains an "Accumulate" investment rating for the company [1][24]. Core Views - The company's gross margin continues to be under pressure, with an increasing proportion of revenue coming from outside its home province. The revenue from power engineering construction and smart electricity services, as well as power equipment supply, showed mixed results, with revenues of 1.504 billion and 1.049 billion respectively, reflecting a year-on-year change of -2.83% and +58.59% [23]. - The company reported a total revenue of 2.694 billion yuan in 2023, a year-on-year increase of 14.3%, but the net profit attributable to the parent company decreased significantly by 69.36% to 78 million yuan [2][24]. - The company is expanding its operations outside its home province, with revenue from these areas exceeding 30% of total revenue, indicating a strategic shift to diversify its market presence [23]. Financial Summary - In 2023, the company achieved a revenue of 2.694 billion yuan, with a projected revenue growth of 22.5% in 2024, reaching 3.301 billion yuan [4][24]. - The net profit for 2024 is expected to rebound to 172 million yuan, representing a year-on-year growth of 119.6% [24]. - The gross margin for 2023 was reported at 19.4%, with projections for 2024 showing a slight decline to 18.8% [12][16]. Revenue and Profit Forecast - The company is expected to achieve sales revenues of 3.301 billion, 4.017 billion, and 4.768 billion yuan for the years 2024, 2025, and 2026 respectively, with corresponding net profits of 172 million, 240 million, and 272 million yuan [24]. - The projected P/E ratios for the years 2024, 2025, and 2026 are 21X, 15X, and 13X respectively, indicating a favorable valuation trend [24].

Investment Rating - The report maintains a "Buy" rating for the company [2][4][7]. Core Insights - In 2023, the company achieved revenue of 2.694 billion, a year-on-year increase of 14.3%. However, the net profit attributable to the parent company and the net profit after deducting non-recurring gains and losses were 78.4 million and 54 million, respectively, reflecting a significant decline of 69.4% and 76.3% year-on-year [2]. - The decline in profitability is attributed to a decrease in gross margin and an increase in impairment provisions. The forecast for net profit attributable to the parent company for 2024-2026 has been revised down to 170 million, 210 million, and 270 million, respectively, with corresponding P/E ratios of 20.8, 16.8, and 13.4 times [2][3]. - The company is increasing R&D investment and enhancing customer collaboration, particularly in the EPCOS + photovoltaic + energy storage layout, with a new smart equipment production base expected to commence operations in 2024 [5][11]. Financial Performance - The company's operating income for 2023 was 2.694 billion, with a growth rate of 14.3%. The net profit attributable to the parent company was 78.4 million, down 69.39% year-on-year [9][19]. - The gross margin for the company was 19.4%, a decrease of 7.3 percentage points year-on-year, with the gross margins for the power engineering construction and intelligent electricity services, and power equipment supply segments being 17.3% and 18.75%, respectively [5][19]. - The cash flow from operations (CFO) for 2023 was -98 million, a decrease of 121 million year-on-year, indicating cash flow challenges [3][13]. Business Segmentation - Revenue from the power engineering construction and intelligent electricity services segment was 1.5 billion, down 2.83% year-on-year, while the power equipment supply segment saw a significant increase of 58.6% to 1.05 billion [5]. - The company is expanding its business both domestically and internationally, with domestic revenue increasing by 8.6% to 1.86 billion and overseas revenue growing by 29.4% to 840 million, primarily in Southeast Asia and North America [5][11].

苏文电能科技股份有限公司 2023年度募集资金存放与使用情况专项报告 根据中国证券监督管理委员会《上市公司监管指引第 2 号——上市公司募集资金管理 和使用的监管要求（2022 年修订）》（证监会公告〔2022〕15 号）、《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》以及《深圳证券交易所创业板上 市公司自律监管指南第 2 号——公告格式》的相关规定，本公司就 2023 年度募集资金存放 与使用情况作如下专项报告： 一、 募集资金基本情况 （一）、实际募集资金金额、资金到位情况 1、2021 年首次公开发行股票并在创业板上市的募集资金（以下简称"2021 年首次公 开发行股票募集资金"）情况 （2）本年度使用金额及当前余额 单位：人民币元 根据中国证券监督管理委员会（以下简称"中国证监会"）出具的《关于同意苏文电 能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[2021]825 号）同意注 册，公司首次公开发行人民币普通股（A 股）35,079,567 股，每股面值人民币 1.00 元，发 行价格为 15.83 元/股，募集资金总额为人民币 555,309,545.61 ...

苏文电能科技股份有限公司 证券代码：300982 证券简称：苏文电能 公告编号：2024-022 苏文电能科技股份有限公司 关于会计政策变更的公告 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。 苏文电能科技股份有限公司（以下简称"公司"）依照中华人民共和国财政 部 （以下简称 "财政部"）发布的 企业会计准则解释第 16 号》变更相应的会计 政策。本次变更无需提交公司董事会和股东大会审议，不会对公司财务状况、经 营成果和现金流量产生重大影响。相关会计政策变更的具体情况如下： 一、 本次会计政策变更概述 2、变更日期 公司根据财政部文件规定日期执行上述新会计政策。 3、变更前采用的会计政策 本次变更前，公司执行财政部发布的 企业会计准则—基本准则》和各项具 体会计准则、企业会计准则应用指南、企业会计准则解释公告以及其他相关规定。 4、变更后采用的会计政策 苏文电能科技股份有限公司 本次会计政策变更后，公司将按照财政部发布的准则解释 16 号的要求执行。 除上述会计政策变更外，其他未变更部分，仍按照财政部前期颁布的 企业会计 准则——基本准则》和各项具体会计准则 ...

苏文电能科技股份有限公司 苏文电能科技股份有限公司 独立董事 2023 年度述职报告（屈文洲） 2023 年度，作为苏文电能科技股份有限公司（（以下简称"公司"）第三届独 立董事，本人严格按照（ 公司法》 证券法》等法律法规、规范性文件以及（ 公 司章程》 独立董事工作制度》的规定和要求，本着严谨认真、勤勉尽责的原则， 充分发挥独立董事的独立性和专业性，积极参与公司治理，按时出席公司召开的 相关会议，认真审议董事会各项议案，对公司的相关重大事项发表独立意见，切 实履行了独立董事职责，维护了公司和股东特别是中小股东的合法权益。现将本 人 2023 年度任职期间（（2023 年 5 月 26 日至 2023 年 12 月 31 日）履职情况汇报 如下： 一、 基本情况 （一） 独立董事工作履历、专业背景及兼职情况 屈文洲先生：1972 年 6 月生，中国国籍，无境外永久居住权，博士学历，注 册会计师，美国特许金融分析师。1995 年 7 月至 2000 年 8 月，曾任厦门建发信 托投资公司滨海证券营业部投资信息部主任、厦门建发信托投资公司投资银行部 经理；2005 年 8 月至 2007 年 12 月，曾任厦门 ...

Financial Performance - Suwen Electric Energy reported a revenue of RMB 1.2 billion for the current fiscal year, representing a 15% increase compared to the previous year[20]. - The company achieved a net profit of RMB 200 million, which is a 10% growth year-over-year[20]. - The company's operating revenue for 2023 was ¥2,694,355,397.15, representing a 14.30% increase compared to ¥2,357,240,277.83 in 2022[27]. - The net profit attributable to shareholders for 2023 was ¥78,403,292.47, a significant decrease of 69.36% from ¥255,855,952.73 in 2022[27]. - The basic earnings per share for 2023 was ¥0.38, a decline of 75.00% compared to ¥1.52 in 2022[27]. - The company reported a significant increase in its gross margin, which improved to 35% from 30% in the previous year[20]. - The revenue from power equipment supply increased by 58.59% to CNY 1,048,881,980.9, accounting for 38.93% of total revenue[96]. - The company achieved a total revenue of CNY 2,694,355,397.1 in 2023, representing a year-on-year growth of 14.30%[93]. Research and Development - The company reported a significant increase in R&D expenditures, particularly in power electronic devices and solar storage charging businesses, leading to a net growth in employee numbers and an overall increase in labor costs[6]. - Suwen Electric Energy is investing RMB 100 million in R&D for new energy storage technologies[20]. - Research and development expenses rose by 15.92% to 98,022,629, indicating a focus on innovation[104]. - The number of R&D personnel increased by 13.10% from 290 in 2022 to 328 in 2023, with a proportion of 33.47% of total employees[125]. - R&D investment amounted to ¥98,022,629.25 in 2023, representing 3.64% of operating revenue, up from 3.59% in 2022[125]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025[20]. - The company is focusing on power consulting design, smart manufacturing, installation integration, investment operation, and software information services to adapt to market changes and enhance customer service[5]. - The company emphasizes its strategic focus on enhancing customer service and exploring different regions for market expansion[5]. - The company aims to enhance its market competitiveness by providing one-stop EPCOS energy services and solutions, focusing on innovation and deepening customer cooperation[83]. - The company is committed to enhancing its position in the industry through innovative technologies and solutions[111]. Governance and Compliance - The report indicates that all directors attended the board meeting to review the annual report, ensuring governance compliance[5]. - The company has established independent financial accounting systems and does not share bank accounts with controlling shareholders[181]. - The company maintains a complete business system, ensuring independence from controlling shareholders and avoiding any competition[178]. - The company has a robust governance structure with clear separation between its operations and those of its controlling shareholders[182]. - The company has revised its governance documents, including the Articles of Association and various committee implementation rules, to enhance governance structure[164]. Risk Management - The board has outlined potential risk factors and countermeasures in the management discussion and analysis section of the report[8]. - The company faces risks from macroeconomic fluctuations and market competition, which could adversely affect its performance and financial status[156][157]. - The company is committed to maintaining a stable supply chain and controlling procurement costs by tracking raw material market trends and implementing measures like early procurement[159]. Sustainability and ESG Initiatives - Suwen Electric Energy aims to enhance its ESG initiatives, focusing on sustainability and governance practices[20]. - The company is focused on providing carbon reduction solutions and tracking carbon footprints for clients, contributing to sustainability efforts[107]. - The company is committed to achieving domestic leadership in technology levels for its new switchgear cabinet components[121]. - The company aims to support sustainable building development by providing green energy solutions, contributing to national carbon peak and carbon neutrality goals[108]. Shareholder Engagement - The company has engaged in multiple investor relations activities, including on-site research and telecommunication meetings, to maintain transparency with stakeholders[160][161]. - The company is committed to equal treatment of all shareholders, providing convenience for minority shareholders to exercise their rights[165]. - The company reported a total shareholding increase from 14,400,000 to 17,280,000 shares for the CEO, reflecting a 20% increase in holdings[186]. Financial Management - The company is focusing on innovative designs for high and low voltage distribution cabinets to enhance quality and reliability, which may improve market competitiveness[124]. - The company intends to expand its market share in Jiangsu and accelerate market development in Shanghai, Beijing, and Southwest regions, increasing the proportion of out-of-province business[153]. - The company is committed to high quality, cost-effectiveness, and reliability in its new product developments[109]. - The company has implemented remote meter reading and online payment functionalities, improving management efficiency and reducing staff workload[110].

中信证券股份有限公司 关于苏文电能科技股份有限公司 2023 年度募集资金存放与使用情况的专项核查意见 中信证券股份有限公司（以下简称"保荐机构"、"中信证券"）作为苏文电能 科技股份有限公司（以下简称"苏文电能"、"公司"或"上市公司"）首次公开发行股 票并在创业板上市的保荐机构，根据中国证券监督管理委员会《上市公司监管指 引第 2 号——上市公司募集资金管理和使用的监管要求（2022 年修订）》（证监会 公告〔2022〕15 号）、《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》以及《深圳证券交易所创业板上市公司自律监管指南第 2 号 ——公告格式（2023 年修订）》的相关规定，对苏文电能 2023 年度募集资金存放 与使用情况进行了专项核查，具体情况如下： （二）以前年度已使用金额、本年度使用金额及当前余额 1、2021 年首次公开发行股票募集资金情况 | 1、募集资金净额 | | | 493,904,989.26 | | | --- | --- | --- | --- | --- | | 2、以前年度募集资金已使用情况 | | | | | | 减：以募集资金置换预先投入自 ...

证券代码：300982 证券简称：苏文电能 公告编号：2024-017 苏文电能科技股份有限公司 苏文电能科技股份有限公司 关于续聘2024年度会计师事务所的公告 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。 苏文电能科技股份有限公司（以下简称"公司"）于 2024 年 4 月 24 日召开 第三届董事会第八次会议、第三届监事会第五次会议，分别审议通过 关于续聘 2024 年度会计师事务所的议案》，同意聘请立信会计师事务所（特殊普通合伙） （以下简称 "立信"）作为公司 2024 年度审计机构，聘期一年。本议案尚需提交 公司 2023 年年度股东大会审议。现将具体情况公告如下： 一、拟聘任会计师事务所情况说明 立信具备证券、期货相关业务执业资格，具备多年为上市公司提供审计服务 的经验与能力，立信在公司 2023 年度审计过程中，勤勉尽责，遵循独立、公允、 客观的执业准则进行了独立审计，具有审计专业胜任能力，诚信记录及投资者保 护能力良好，勤勉高效地完成了公司各项审计工作。 为保证审计工作的连续性，经公司董事会审计委员会提议，拟续聘立信为公 司 2024 年审 ...

苏文电能科技股份有限公司 证券代码：300982 证券简称：苏文电能 公告编号：2024-020 苏文电能科技股份有限公司 关于举办 2023 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的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 苏文电能科技股份有限公司（以下简称"公司"）已于 2024 年 4 月 25 日在 巨潮资讯网上披露了《2023 年年度报告》及《2023 年年度报告摘要》。为便于 广大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司定于 2024 年 04 月 30 日（星期二）15:30-17:00 在"价值在线"（www.ir-online.cn）举办 苏文电能科技股份有限公司 2023 年度网上业绩说明会，与投资者进行沟通和交 流，广泛听取投资者的意见和建议。 董事长、总经理施小波先生，副总经理、董事会秘书兼财务总监张子健先生， 独立董事屈文洲先生，保荐代表人孙琦先生（如遇特殊情况，参会人员可能进行 调整）。 会议召开时间：2024 年 04 月 30 日（星期二）15:30-17:00 会议召开方式：网络互动方式 会议召开地点 ...

Financial Performance - The company's revenue for Q1 2024 was ¥497,000,499.23, a decrease of 14.42% compared to ¥580,761,418.87 in the same period last year[5] - Net profit attributable to shareholders was ¥51,445,315.74, down 46.46% from ¥96,085,728.16 year-on-year[5] - Basic and diluted earnings per share were both ¥0.28, reflecting a 50.00% decrease from ¥0.56 in the same period last year[5] - Total operating revenue for the current period was ¥497,000,499.23, a decrease of 14.4% compared to ¥580,761,418.87 in the previous period[19] - Operating profit for the current period was ¥63,862,411.06, down 41.8% from ¥110,021,782.84 in the previous period[20] - Net profit for the current period was ¥51,143,466.46, a decline of 47.0% compared to ¥96,294,463.79 in the previous period[20] - The company reported a total comprehensive income of ¥51,123,233.12, down 46.8% from ¥96,241,048.25 in the previous period[20] Cash Flow - The net cash flow from operating activities improved to -¥77,096,450.48, a 70.36% increase compared to -¥260,071,333.32 in the previous year[5] - The net cash flow from financing activities improved to ¥12,555,765.60, a 134.19% increase compared to -¥36,719,681.26 in the same period last year[9] - Net cash flow from operating activities was -$77.10 million, an improvement from -$260.07 million in the previous period[23] - Net cash flow from financing activities was $12.56 million, a turnaround from -$36.72 million in the previous period[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,736,379,215.11, down 2.74% from ¥4,869,947,345.09 at the end of the previous year[5] - Total liabilities decreased to ¥1,587,503,720.65 from ¥1,742,658,031.50, a decline of 8.9%[17] - The company's total equity increased to ¥3,148,875,494.46 from ¥3,127,289,313.59, an increase of 0.7%[17] - The company's cash and cash equivalents decreased to ¥626,350,234.99 from ¥749,853,212.87, a decline of approximately 16.4%[15] - Accounts receivable decreased to ¥1,558,870,265.19 from ¥1,634,825,700.10, a reduction of about 4.1%[15] - Total current assets decreased to ¥3,877,524,341.07 from ¥4,013,280,916.46, a decline of approximately 3.4%[15] Shareholder Information - Total number of common shareholders at the end of the reporting period is 16,195[11] - The largest shareholder, Lu Weiqin, holds 35.37% of shares, totaling 73,200,000 shares[11] - The top ten shareholders include several investment funds, with the largest being Hong Kong Central Clearing Limited holding 1.18%[12] Investment and Expenses - The company reported a significant increase in credit impairment losses, which rose by 2272.04% to ¥28,053,382.76 compared to ¥1,182,670.38 in the previous year[8] - Investment income for the period was ¥905,157.02, marking a 100.00% increase from the previous year[8] - Research and development expenses for the current period were ¥21,435,808.10, up 26.5% from ¥16,925,788.98 in the previous period[19] Other Financial Metrics - The weighted average return on equity decreased to 1.65%, down 1.46% from 3.11% year-on-year[5] - The company recorded a decrease in operating income from non-operating activities, which fell by 81.28% to ¥672,645.58 compared to ¥3,592,387.41 in the previous year[9] - The company's deferred tax assets decreased to ¥54,293,441.74 from ¥58,121,468.70, a decline of 6.4%[16] - The company has ongoing investments in long-term equity amounting to ¥2,000,000.00, unchanged from the previous period[15] - The total non-current assets include fixed assets valued at ¥383,805,836.16, slightly down from ¥390,223,076.20[15]