Investment Rating - The report indicates a positive investment outlook for Huabao New Energy, highlighting a significant rebound in performance and cost reduction efforts [4][12][30]. Core Insights - Huabao New Energy has experienced a V-shaped recovery in its performance, with a 35% year-on-year revenue growth in the first three quarters of 2024, reaching 2.13 billion yuan [5][6][13]. - The company is a leader in the portable energy storage market, holding a 16.6% global market share as of 2021, and has sold nearly 5 million units to date [2][5]. - The global portable energy storage market is projected to grow significantly, with a compound annual growth rate (CAGR) of 51% from 2021 to 2026, indicating substantial growth potential for the company [17]. Summary by Sections Performance Overview - In the first three quarters of 2024, Huabao New Energy's revenue reached 2.13 billion yuan, a 35% increase year-on-year, with Q3 revenue alone at 990 million yuan, marking a 50% increase [5][6][13]. - The company's gross margin improved to 45.2%, up 5.9 percentage points year-on-year, reflecting effective cost control measures [9][12]. Market Position - Huabao New Energy is recognized as the leading player in the portable energy storage sector, with four out of the top five global companies in terms of shipment volume being Chinese, and Huabao being the only one with over 10% market share [2][3]. - The company has established a strong brand presence, with its "Jackery" brand being the most recognized in the portable energy storage market in China [28]. Product Innovation - The company has focused on developing innovative products, such as the Solar Generator series, which combines solar energy and storage, catering to the growing demand for sustainable energy solutions [18][19]. - Huabao's R&D investment has been substantial, with a compound annual growth rate of 86% in R&D expenses since 2018, leading to a robust pipeline of innovative products [20]. Future Growth Opportunities - The household energy storage market presents a significant growth opportunity, with the company launching its first generation of household storage products and planning to expand its offerings [21][22]. - The report highlights the potential for the household energy storage market, which is currently underpenetrated, with global penetration rates below 1% [21][22]. Sales and Distribution Strategy - Huabao New Energy employs a multi-channel sales strategy, including online and offline platforms, with a strong presence in over 50 countries [25][26]. - The company's M2C (Manufacturers to Consumer) model has proven effective, with online sales through its brand website and third-party platforms showing significant growth [27].

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。 深圳市华宝新能源股份有限公司（以下简称为"公司"或"华宝新能"）于2023年11 月1日召开了第二届董事会第二十六次会议和第二届监事会第二十二次会议，审议通 过了《关于使用部分超募资金以集中竞价交易方式回购公司股份方案的议案》，同意 公司使用部分超募资金以集中竞价交易的方式回购公司股份，用于后期实施员工持股 计划或股权激励。回购资金总额不低于人民币5,000万元（含），不超过人民币1亿元 （含），具体回购股份的数量以回购结束时实际回购的股份数量为准。本次股份回购 实施期限为自董事会审议通过本方案之日起12个月内。具体内容详见公司分别于2023 年11月2日、2023年11月9日在巨潮资讯网（http://www.cninfo.com.cn，下同）披露的 《关于使用部分超募资金以集中竞价交易方式回购公司股份方案的公告》（公告编号： 2023-071）、《关于使用部分超募资金以集中竞价交易方式回购公司股份方案的回购 报告书》（公告编号：2023-073）等相关公告。 在股份回购期间，公司实施了2024年半年度权益分派 ...

Investment Rating - The report maintains a "Buy" rating for the company, expecting a relative price increase of over 20% within the next six months [13]. Core Insights - The company reported a significant rebound in revenue and a substantial improvement in profitability for the first three quarters of 2024, with total revenue reaching 2.13 billion yuan, a year-on-year increase of 35.0%, and a net profit attributable to shareholders of 160 million yuan, up 357.1% [2]. - The recovery in the US and Japanese markets has been notable, with revenue growth of 41.12% and 72.69% respectively, driven by overall industry demand recovery and enhanced product and brand competitiveness [2]. - The company's gross margin improved to 43.8% in Q3, an increase of 2.4 percentage points year-on-year, aided by lower raw material costs and effective cost control measures [2]. - The anticipated interest rate cuts by the Federal Reserve are expected to boost consumer demand, particularly for high-ticket items like portable energy storage products, with expectations for strong performance during the upcoming holiday sales season [2]. Financial Summary - For 2024-2026, the company is projected to achieve revenues of 3.22 billion, 4.13 billion, and 5.12 billion yuan, representing year-on-year growth rates of 39%, 28%, and 24% respectively [2][3]. - The net profit attributable to shareholders is expected to reach 245 million, 355 million, and 437 million yuan for the same period, with growth rates of 241%, 45%, and 23% respectively [2][3]. - The current price-to-earnings (P/E) ratios for 2024-2026 are projected at 44.4x, 30.6x, and 24.8x, reflecting the company's improving financial outlook [2].

证券代码：301327 证券简称：华宝新能 投资者关系活动记录表 深圳市华宝新能源股份有限公司 编号：2024-004 | --- | --- | --- | --- | |-----------------------|-------------------------------------------|----------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The company's operating revenue for Q3 2024 reached ¥990,186,913.20, representing a 50.41% increase compared to ¥658,317,369.34 in the same period last year[3] - Net profit attributable to shareholders was ¥86,589,827.00, a significant turnaround from a loss of ¥10,976,028.87, marking an increase of 888.90%[3] - The net profit after deducting non-recurring gains and losses was ¥57,471,904.06, compared to a loss of ¥43,677,500.90, reflecting a 231.58% increase[3] - The basic earnings per share (EPS) improved to ¥0.69 from a loss of ¥0.09, an increase of 866.67%[3] - The company's operating revenue for the first nine months of 2024 reached CNY 2,132,656,828.80, representing a 35.02% increase compared to CNY 1,579,507,073.97 in the same period of 2023[8] - In the first three quarters of 2024, the company achieved a revenue of CNY 2.133 billion, a year-on-year increase of 35.02%, and a net profit attributable to shareholders of CNY 159 million, up 357.06%[14] - In Q3 2024, the company's revenue reached CNY 990 million, representing a year-on-year growth of 50.41%, with a net profit of CNY 86.59 million, an increase of 888.90%[14] - The company's gross margin for the reporting period was 45.17%, an increase of 5.86 percentage points year-on-year[14] Cash Flow and Assets - The company's cash flow from operating activities for the year-to-date was ¥363,966,188.69, a 205.63% improvement from a negative cash flow of ¥344,566,647.00 in the previous year[3] - The net cash flow from operating activities improved significantly to CNY 363,966,188.69, a 205.63% increase from a negative CNY 344,566,647.00 in the previous year[9] - The total assets at the end of the reporting period were ¥7,193,638,856.34, showing a 2.90% increase from the previous year-end[3] - The total assets of the company as of September 30, 2024, were CNY 7.194 billion, compared to CNY 6.991 billion at the beginning of the period[20][21] - The company reported a net cash flow from investment activities of -¥1,284,077,881.37, an improvement from -¥5,454,272,164.45 in the previous period[28] - Cash inflow from investment activities reached ¥5,005,625,043.83, up from ¥4,050,528,528.62, marking an increase of approximately 23.5%[28] Liabilities and Equity - Total liabilities increased to CNY 1,060,975,545.53, up from CNY 965,312,675.96 year-over-year[22] - Total equity attributable to shareholders reached CNY 6,132,663,310.81, compared to CNY 6,025,266,303.38 in the previous year[22] Shareholder Information - The company’s major shareholder, Shenzhen Jubaoxin Tai Holdings Co., Ltd., holds a 32.02% stake, while other significant shareholders include Sun Zhongwei with 18.26% and Shenzhen Jiamei Sheng Enterprise Management Partnership with 8.75%[10][11] - The company repurchased 846,609 shares, accounting for 0.6784% of the total share capital, with a total transaction amount of CNY 50,296,903.87[12] Expenses and Costs - The company reported a 61.35% increase in taxes and surcharges, totaling CNY 5,841,287.85, due to the growth in operating revenue[8] - Financial expenses decreased by 64.20% to CNY -27,817,012.16, primarily due to reduced exchange gains and interest income[8] - The company experienced a substantial increase in income tax expenses, which rose to CNY 19,365,926.88, a 242.34% increase compared to a negative tax expense in the previous year[8] - The total operating cost of the company was CNY 1,988,349,721.84, an increase from CNY 1,715,954,744.71 in Q3 2023[23] - The company adjusted its accounting policy, resulting in an increase in operating costs by ¥10,850,136.38 and a corresponding decrease in selling expenses by the same amount for the first nine months of 2024[30] - The total operating costs for the first nine months of 2024 were reported at ¥1,169,296,912.66 after adjustments, compared to ¥1,158,446,776.28 before adjustments[30] Research and Development - R&D expenses for the first three quarters of 2024 amounted to CNY 117 million, a year-on-year increase of 1.90%, with 751 patents pending and 765 patents granted[16] - Research and development expenses for Q3 2024 were CNY 117,427,608.19, slightly up from CNY 115,238,654.13 in the same period last year[23] Product and Market Performance - The Solar Generator product line saw a revenue increase of nearly 130% year-on-year, accounting for nearly 50% of total revenue[18] - The company established 23 brand websites globally, with product sales reaching nearly 5 million units, leading in global sales[15] - Revenue from the brand's official website grew by 61.81% year-on-year, achieving a monthly sales figure exceeding CNY 100 million[15] Cost Management - The company implemented cost reduction strategies, resulting in a sales expense ratio decrease of 7.36 percentage points and a management expense ratio decrease of 4.06 percentage points year-on-year[19] Comprehensive Income - Other comprehensive income after tax for Q3 2024 was CNY 214,648.30, compared to CNY 1,295,070.82 in the previous year[24] - The total comprehensive income for Q3 2024 was CNY 159,642,759.20, a recovery from a loss of CNY 60,725,253.63 in Q3 2023[24]

深圳市华宝新能源股份有限公司 委托理财管理制度 第一章 总则 第一条 为规范深圳市华宝新能源股份有限公司（以下简称"公司"）委托 理财产品交易行为，有效控制投资风险，保证公司资产、财产的安全，提高投资 收益，维护公司及股东合法权益，根据《中华人民共和国公司法》等有关法律法 规和规范性文件及公司章程的规定，结合公司实际情况，制定本制度。 第二章 基本定义及规定 第二条 本制度所称"委托理财"是指在国家政策允许的情况下，公司（含 全资子公司及控股子公司）在控制投资风险的前提下，以提高资金使用效率、增 加现金资产收益为原则，委托商业银行、信托公司、证券公司、资产管理公司等 金融机构进行投资的行为，包括购买或投资银行理财产品、信托产品、债券、资 产管理计划及根据公司内部决策程序批准的其他理财对象和理财产品等。 第三条 本制度适用于公司、全资子公司及控股子公司。 第四条 委托理财原则 （一）委托理财的资金为公司闲置自有资金、闲置募集资金（含超募资金， 仅可用于现金管理的委托理财），不得挤占公司正常运营和项目建设资金，不得 影响募集资金项目使用进度； （二）委托理财应当以公司名义设立理财产品账户，不得使用个人账户进行 操 ...

核查意见 华泰联合证券有限责任公司（以下简称"华泰联合证券"或"保荐机构"） 作为深圳市华宝新能源股份有限公司（以下简称"华宝新能"或"公司"）首次 公开发行股票的保荐机构，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 13 号 ——保荐业务》《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》等法律、法规和规范性文件的规定，华泰联合证券对华宝新能拟 使用闲置自有资金购买理财产品的事项进行了审慎核查，具体核查情况如下： 一、本次拟使用闲置自有资金购买理财产品的基本情况 （一）资金来源 本次购买理财产品的资金来源于公司暂时闲置的自有资金。 （二）购买理财产品目的 为提高公司资金使用效率，在不影响公司正常经营且保证资金安全的情况下， 合理利用闲置自有资金购买理财产品，可以提高资金使用效率，节省财务费用， 增加资金收益，为公司和股东谋取较好的投资回报。 （三）投资额度及期限 华泰联合证券有限责任公司 关于深圳市华宝新能源股份有限公司 使用闲置自有资金购买理财产品的核查意见 公司使用不超过人民币 35 亿元（含）的闲置自有资金 ...

证券代码：301327 证券简称：华宝新能 公告编号：2024-083 深圳市华宝新能源股份有限公司 关于使用闲置自有资金购买理财产品的公告 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。 深圳市华宝新能源股份有限公司（以下简称为"公司"或"华宝新能"）于2024年10 月28日召开了第三届董事会第八次会议和第三届监事会第八次会议，审议通过了《关 于使用闲置自有资金购买理财产品的议案》，同意公司及子公司使用不超过人民币35 亿元（含）的闲置自有资金购买理财产品，理财对象包括但不限于银行理财产品、信 托产品等产品及其他根据公司内部决策程序批准的理财对象及理财方式。闲置自有资 金购买理财产品期限自2024年第四次临时股东会审议通过之日起12个月之内有效，同 时，经第三届董事会第四次会议和第三届监事会第四次会议、2023年年度股东大会审 议通过的《关于使用部分闲置自有资金进行现金管理的议案》失效，具体内容详见公 司于2024年4月27日在巨潮资讯网（http://www.cninfo.com.cn）披露的《关于使用部分 闲置自有资金进行现金管理的公告》。在上述额度和 ...

证券代码：301327 证券简称：华宝新能 公告编号：2024-080 深圳市华宝新能源股份有限公司 第三届监事会第八次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 深圳市华宝新能源股份有限公司（以下简称为"公司"或"华宝新能"）第三届监事 会第八次会议通知于2024年10月18日以书面送达、电子邮件及电话的方式向全体监事 发出，本次监事会会议于2024年10月28日在公司会议室以现场结合通讯表决的方式召 开。本次监事会会议由公司监事会主席吴宗林先生主持，本次会议应出席监事3人， 实际出席监事3人，职工代表监事雷维民先生以通讯表决方式出席会议，公司高级管 理人员列席了会议。 本次会议的召集、召开及表决程序符合《中华人民共和国公司法》《中华人民共 和国证券法》等有关法律、行政法规、部门规章、规范性文件和《深圳市华宝新能源 股份有限公司章程》的规定。 二、监事会会议审议情况 经公司全体监事认真审议，本次会议形成以下决议： （一）审议通过《2024 年第三季度报告》 表决结果：同意 3 票，反对 0 票，弃权 0 票。 经审核 ...

证券代码：301327 证券简称：华宝新能 公告编号：2024-082 深圳市华宝新能源股份有限公司 关于使用部分超募资金永久补充流动资金及归还银行贷款的公告 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。 深圳市华宝新能源股份有限公司（以下简称为"公司"或"华宝新能"）于2024年10 月28日召开了第三届董事会第八次会议和第三届监事会第八次会议，审议通过了《关 于使用部分超募资金永久补充流动资金及归还银行贷款的议案》，同意公司使用暂未 确定用途的部分超募资金人民币57,500万元（占超募资金总额的11.69%）永久补充流 动资金及归还银行贷款。本议案尚需提交公司股东会审议。现将具体情况公告如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意深圳市华宝新能源股份有限公司首次公开 发行股票注册的批复》（证监许可〔2022〕1175号）同意注册，公司首次公开发行人 民币普通股（A股）股票24,541,666股，发行价格为人民币237.50元/股，募集资金总额 为人民币5,828,645,675元，扣除发行费用（不含增值税）人民币234,049,270 ...