证券代码：301358 证券简称：湖南裕能 公告编号：2025-029 湖南裕能新能源电池材料股份有限公司 2024 年年度权益分派实施公告 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。 湖南裕能新能源电池材料股份有限公司（以下简称"公司"或"本公司"） 2024 年年度权益分派方案已获 2025 年 4 月 18 日召开的 2024 年度股东大会审议 通过，现将权益分派事宜公告如下： 一、股东大会审议通过利润分配方案的情况 1、公司 2024 年度股东大会审议通过的利润分配方案为：以公司现有总股本 757,253,070 股为基数，向全体股东每 10 股派发现金 1.57 元（含税），共计派发 现金红利 118,888,731.99 元（含税）。本次利润分配预案实施后，公司剩余未分 配利润结转至以后年度，本年度不送红股，不以资本公积转增股本。若在本次利 润分配预案披露之日起至实施权益分派股权登记日期间公司总股本发生变动的， 公司则以未来实施分配预案时股权登记日的总股本为基数，按照现金分红分配比 例不变的原则对现金分红总额进行相应调整。 本公司 2024 年 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company reported a Q1 2025 revenue of 6.76 billion yuan, representing a year-on-year increase of 49.6% and a quarter-on-quarter increase of 0.6%. However, the net profit attributable to the parent company was 90 million yuan, a year-on-year decrease of 40.6% and a quarter-on-quarter decrease of 8.4% [2][4]. - The company achieved a shipment of approximately 223,000 tons of lithium iron phosphate materials, a year-on-year increase of 63.68%. The sales in the energy storage sector accounted for about 38%, and new product sales were approximately 82,000 tons, accounting for about 37% [8]. - The company is expected to maintain a rapid year-on-year growth rate throughout the year, with anticipated improvements in profitability due to price adjustments and structural changes in product offerings [8]. Summary by Sections Financial Performance - Q1 2025 revenue was 6.76 billion yuan, up 49.6% year-on-year and 0.6% quarter-on-quarter. The net profit attributable to the parent company was 90 million yuan, down 40.6% year-on-year and 8.4% quarter-on-quarter. The non-recurring net profit was 80 million yuan, down 44.1% year-on-year and 10.0% quarter-on-quarter [2][4]. - The estimated single-ton profit for Q1 2025 faced pressure due to rising costs of iron and phosphorus sources, as well as the decline in lithium carbonate prices [8]. Market Outlook - The company is expected to see continued growth in production and sales, with a projected net profit of approximately 1.5 billion yuan for 2025. The anticipated price increases from "processing fees + discount coefficient adjustments" are expected to further enhance profitability in Q2 [8]. - The company's integrated layout and new product iterations are expected to provide high elasticity in product unit profitability [8].

Investment Rating - The investment rating for Hunan YN is "Buy" (maintained) [1] Core Views - The company reported a significant decline in revenue for 2024, with a total revenue of 22.6 billion yuan, down 45.4% year-on-year, primarily due to the drop in lithium carbonate prices affecting the pricing of cathode materials [4] - The net profit attributable to the parent company for 2024 was 594 million yuan, a decrease of 62.45% year-on-year, with a non-recurring net profit of 570 million yuan, also down 62.44% [4] - In Q1 2025, the company achieved a revenue of 6.76 billion yuan, an increase of 49.6% year-on-year, driven by a 63.68% increase in phosphate cathode material sales [4] - The company maintained its leading market share in lithium iron phosphate, with a total sales volume of 711,000 tons in 2024, up 40.2% year-on-year [5] - The company is advancing its capacity construction and cost reduction initiatives, with projects in Guizhou and Spain, and is exploring markets in Southeast Asia and North America [6] Financial Summary - The projected revenues for 2025, 2026, and 2027 are 31.9 billion yuan, 39.65 billion yuan, and 45.22 billion yuan, respectively, with year-on-year growth rates of 41.2%, 24.3%, and 14.0% [8] - The net profit attributable to the parent company is expected to rise to 1.69 billion yuan in 2025, 2.27 billion yuan in 2026, and 2.59 billion yuan in 2027, reflecting year-on-year growth rates of 184.7%, 34.2%, and 14.2% [8] - The company's P/E ratios for 2025, 2026, and 2027 are projected to be 13.42x, 10.01x, and 8.76x, respectively [7][8]

Investment Rating - The investment rating for Hunan YN is maintained as "Buy" [1] Core Views - The company reported a significant decline in revenue for 2024, with a total revenue of 22.6 billion yuan, down 45.4% year-on-year, primarily due to the drop in lithium carbonate prices affecting the pricing of cathode materials [4] - The net profit attributable to the parent company for 2024 was 594 million yuan, a decrease of 62.45% year-on-year, with a negative operating cash flow of 1.04 billion yuan due to increased inventory [4] - In Q1 2025, the company achieved a revenue of 6.76 billion yuan, up 49.6% year-on-year, driven by a 63.68% increase in phosphate cathode material sales [4] - The company has seen a steady increase in lithium iron phosphate sales, with a total of 711,000 tons sold in 2024, marking a 40.2% year-on-year increase, maintaining the industry's leading market share [5] - The company is advancing its capacity construction to reduce costs and enhance efficiency, with projects in Guizhou and Spain underway, and is exploring markets in Southeast Asia and North America [6] - The company’s technology and scale advantages are expected to drive future profitability, with projected net profits of 1.69 billion yuan, 2.27 billion yuan, and 2.59 billion yuan for 2025, 2026, and 2027 respectively [7] Financial Summary - For 2024, the company reported a revenue of 22.6 billion yuan and a net profit of 594 million yuan, with a gross margin of 7.8% [8] - The projected revenues for 2025, 2026, and 2027 are 31.9 billion yuan, 39.65 billion yuan, and 45.22 billion yuan respectively, with corresponding net profits of 1.69 billion yuan, 2.27 billion yuan, and 2.59 billion yuan [8] - The company’s P/E ratios for 2025, 2026, and 2027 are projected to be 13.42x, 10.01x, and 8.76x respectively, indicating a favorable valuation trend [8]

Core Viewpoint - The announcement details the public disclosure and verification of the list of incentive recipients for the 2024 restricted stock incentive plan by Hunan YN Energy Battery Materials Co., Ltd, ensuring compliance with relevant regulations and confirming that no objections were raised during the public notice period [1][2][3] Disclosure and Verification - The company published the list of proposed incentive recipients and their positions on April 29, 2025, on the designated information disclosure website and internally through its OA system, allowing for feedback from stakeholders [1][2] - The verification process included checking the identity documents, employment contracts, and positions held by the proposed incentive recipients [2] Supervisory Board's Verification Opinion - The supervisory board confirmed that all proposed incentive recipients meet the qualifications set forth in relevant laws, regulations, and the company's articles of association, ensuring their eligibility for the incentive plan [2][3] - Specific disqualifications were outlined, including being deemed inappropriate by the stock exchange or regulatory bodies within the last 12 months, or having legal restrictions on serving as company directors or senior management [2]

证券代码：301358 证券简称：湖南裕能 公告编号：2025-028 湖南裕能新能源电池材料股份有限公司 监事会关于 2024 年限制性股票激励计划 预留授予激励对象名单的公示情况说明及核查意见 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。 湖南裕能新能源电池材料股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日召开第二届董事会第十二次会议和第二届监事会第十二次会议审议通过了 《关于向激励对象授予预留限制性股票的议案》等相关议案，根据《上市公司股 权激励管理办法》（以下简称"《管理办法》"）《深圳证券交易所创业板股票上 市规则》（以下简称"《上市规则》"）《深圳证券交易所创业板上市公司自律监 管指南第 1 号——业务办理》（以下简称"《自律监管指南 1 号》"）和《公司章 程》等相关规定，公司对 2024 年限制性股票激励计划（以下简称"本次激励计 划"）预留授予激励对象的名单和职务在公司内部进行了公示，公司监事会结合 公示情况对激励对象人员名单进行了核查，相关情况如下： 一、公示情况及核查方式 1、公司对激励对象名单的公示情况 公司于 2 ...

投资建议：25年行业需求25%增长预期，其中国内电动车25%增长、新兴市场和欧洲储 能翻倍以上增长。短期因为美国关税不确定性冲击，美国储能暂停，整体排产环比平稳，估 值已充分反应，且产业价格和盈利已触底，当前15倍PE安全边际足够，增长确定。首推格 局和盈利稳定龙头电池（宁德时代、比亚迪、亿纬锂能）、结构件（科达利）；并看好具备 盈利改善的材料龙头，首推（湖南裕能、富临精工、璞泰来、尚太科技、天奈科技、天赐材 料），关注中科电气，其次看好（新宙邦、容百科技、华友钴业、中伟股份、星源材质、恩 捷股份等）等；同时碳酸锂价格已见底，看好具备优质资源龙头，推荐（中矿资源、永兴材 料、赣锋锂业、雅化集团等；并看好优质零部件（中熔电气、浙江荣泰、威迈斯等）。 东吴证券发布电动车24年及25Q1财报总结：25Q1板块营收7902亿元，同环比 +9%/-26%，归母净利409亿元，同环比+38%/+41%，电池占利润比重38%（同-4pct），整车 37%（同-7pct），中游材料8%（同+0pct），碳酸锂4%（同+10pct），核心零部件9%（同 +0pct）。 上游资源和中游材料24Q4大幅计提减值，拖累板块利润增速， ...

智能车ETF泰康紧密跟踪中证智能电动汽车指数，中证智能电动汽车指数选取主营业务涉及智能电动汽 车动力系统、感知系统、决策系统、执行系统、通讯系统、整车生产以及汽车后市场的上市公司证券作 为指数样本，以反映智能电动汽车产业上市公司证券的整体表现。 4月上半月整体车市热度仍维持较高水平，下半月上海车展开幕；新车型集中上市，新能源热点产品逐 一开启交付，预计将为新能源市场提供新的增长动能，有力支撑整车市场。 民生证券认为，智能化奇点已来，自主技术输出孵化机遇。智能化能力将成为车企竞争的重要因素。随 着特斯拉FSD使用率拐点显现，自主新势力城市辅助驾驶加速落地和小鹏开启全新商业模式；我们判断 智能驾驶正逐步迎来技术、用户接受度和商业模式的三重拐点，看好智能化布局相对领先、产品周期、 品牌周期向上的优质自主车企。 相关产品：智能车ETF泰康(159720)。 截至2025年5月6日 10:31，智能车ETF泰康(159720)上涨1.61%，盘中成交额迅速走阔，跟踪指数中证智 能电动汽车指数(H11052)强势上涨1.43%，成分股伯特利(603596)上涨5.81%，湖南裕能(301358)上涨 4.97%，北京君正 ...

6月会议预告 2025高工钠电 产业峰会 主办单位： 高工钠电、高工产业研究院（GGII） 总冠名： 众钠能源 会议时间： 6月9日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 2025高工固态电池 技术与应用峰会 主办单位： 高工锂电、高工储能、高工产业研究院（GGII） 总冠名： 利元亨 会议时间： 6月10日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 全球锂电池回收赛道正变得日益拥挤和复杂。行业参与者面临双重压力：一边是欧盟等地日趋严格的回收法规与材料再生目标步步紧逼，另一边则是 上游材料价格波动对回收经济性构成的严峻考验。 此背景下，从电池制造商、材料巨头到专业的第三方回收商乃至汽车主机厂，各路玩家纷纷加速布局。 同时 ，他们的路径选择、技术侧重和商业模式呈现出显著差异，推动着整个产业链加速形成闭环。 市场 近况 ：产能增长趋缓，盈利挑战浮现 中国作为全球最大的电池市场，已初步建立起庞大的回收处理体系。 截至 2024 年底，官方认证的锂离子电池梯次利用和拆解回收总产能合计达到 423.3 万吨 / 年，其中回收拆解利用产能略超梯次利用产能。 一个值得关注的信号是，行 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The report indicates that the company's Q1 single-ton profit has bottomed out, and price increases are expected to lead to a turning point [8] - The company is projected to maintain a shipment growth of 30-40% in 2025, with a significant increase in high-end product shipments [8] - The report anticipates an improvement in unit profitability due to price increases and cost control measures [8] Financial Forecasts - Total revenue is forecasted to be 41,358 million in 2023, with a decline of 3.35% year-on-year, followed by a significant recovery in 2024 with a projected revenue of 22,599 million, representing a 45.36% decline [1] - The net profit attributable to the parent company is expected to be 1,580.63 million in 2023, with a year-on-year decrease of 47.44%, but is projected to rebound to 1,544.16 million in 2025, reflecting a growth of 160.16% [1] - The earnings per share (EPS) is expected to be 2.09 in 2023, dropping to 0.78 in 2024, and recovering to 2.04 in 2025 [1] Market Data - The closing price of the stock is 30.92, with a market capitalization of 23,414.26 million [5] - The price-to-earnings (P/E) ratio is currently at 14.81, expected to drop to 7.75 by 2027 [1][5] Operational Insights - The company achieved a significant increase in shipments of iron-lithium products, with a total of 22.3 million tons shipped in Q1 2025, marking a 64% year-on-year increase [8] - The gross margin for Q1 2025 was reported at 5.5%, with expectations for further improvement in profitability in Q2 due to price adjustments [8]