证券代码：301606 证券简称：绿联科技 公告编号：2025-017 深圳市绿联科技股份有限公司 关于拟参与中植置业（深圳）有限公司预重整的公告 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。 特别提示： 1.公司拟报名参与中植置业（深圳）有限公司预重整投资人的公开招募，是 否具有参与资格以及最终能否成为预重整投资人尚存在不确定性； 2.预重整投资方案能否获得债权人会议表决通过或经广东省深圳市中级人 民法院批准尚存在不确定性； 3.如中植置业（深圳）有限公司预重整计划实施阶段还需公司履行其他审批 程序的，该等审批程序能否获得通过尚存在不确定性。 深圳市绿联科技股份有限公司（以下简称"公司"或"绿联科技"）于 2025 年 5 月 14 日召开第二届董事会第七次会议，审议通过了《关于拟参与中植置业 （深圳）有限公司预重整的议案》，同意公司作为重整投资人参与中植置业预重 整投资人的公开招募，现将具体情况公告如下： 一、预重整情况概述 中植置业（深圳）有限公司（以下简称"中植置业"）是深圳市龙华区元芬 村工业厂房城市更新项目的申报主体。公司为了进一步优化整体战略规 ...

广东信达律师事务所 股东大会法律意见书 中国深圳福田区益田路 6001 号太平金融大厦 11、12 层 邮政编码：518038 11、12/F.TaiPing Finance Tower, 6001 Yitian Road, Futian District, SHENZHEN, CHINA 电话(Tel.)：（86 755）88265288 传真（Fax.)：（86 755）88265537 电子邮件（Email）：info@sundiallawfirm.com 网址（Website）：www.sundiallawfirm.com 广东信达律师事务所 关于深圳市绿联科技股份有限公司 2024 年度股东大会的 法律意见书 信达会字（2025）第 107 号 致：深圳市绿联科技股份有限公司 广东信达律师事务所（以下简称"信达"）接受深圳市绿联科技股份有限公 司（以下简称"贵公司"或"公司"）委托，指派律师出席公司 2024 年度股东 大会（以下简称"本次股东大会"），对本次股东大会的合法性进行见证，并出 具本《广东信达律师事务所关于深圳市绿联科技股份有限公司 2024 年度股东大 会的法律意见书》（下称"《股东大 ...

证券代码：301606 证券简称：绿联科技 公告编号：2025-018 深圳市绿联科技股份有限公司 第二届董事会第七次会议决议公告 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。 一、董事会会议召开情况 深圳市绿联科技股份有限公司(以下简称"公司")第二届董事会第七次会 议于 2025 年 5 月 14 日在公司会议室以现场的方式召开。会议通知于 2025 年 5 月 9 日以电子邮件方式送达各董事。会议应出席董事 9 人，实际出席董事 9 人。 会议由公司董事长张清森先生主持，公司监事、高级管理人员列席会议。本次会 议的召开符合相关法律法规和《公司章程》的规定。 二、董事会会议审议情况 1.审议并通过《关于拟参与中植置业（深圳）有限公司预重整的议案》 公司作为重整投资人报名参与中植置业（深圳）有限公司（以下简称"中植 置业"）预重整投资人的公开招募，通过依法取得中植置业 100%的股权，最终 实现利用其名下的土地自建办公及经营场所的目的。同时，授权公司管理层代表 公司组织参与本次交易相关的投资人遴选、尽职调查、编制预重整投资方案等工 作。 具体内容详见公司同 ...

Group 1: Product Overview - The company's audio and video products include headphones, microphones, high-definition cables, audio cables, and video converters, catering to various user needs from casual to professional levels. In 2024, sales revenue from audio and video products reached 106,045.34 million yuan, with a year-on-year growth of 11.64%, accounting for 17.19% of total revenue [1]. Group 2: Sales Performance - In 2024, JD.com achieved sales of 872 million yuan, representing 14.14% of main business revenue, while Tmall reached sales of 732 million yuan, accounting for 11.87% of main business revenue [2]. Group 3: Product Specifications - The company offers a range of chargers with power outputs from 20W to 500W, suitable for various devices including laptops, tablets, and smartphones [2]. Group 4: Market Impact - The domestic consumption subsidy policy has significantly reduced consumer purchasing costs, directly stimulating market demand and promoting revenue growth for the company, while enhancing brand influence [2]. Group 5: Market Strategy - The company employs a hybrid online and offline strategy for market expansion, achieving balanced and steady growth in both domestic and international revenues. It has established localized service subsidiaries in key markets such as Hong Kong, the USA, Germany, and Japan, enhancing brand influence through strategic partnerships with major retail chains [2].

深圳市绿联科技股份有限公司 关于举行 2024 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、完整，没有虚 假记载、误导性陈述或重大遗漏。 深圳市绿联科技股份有限公司（以下简称"公司"）《2024 年年度报告》 及其摘要已于 2025 年 4 月 24 日在中国证监会指定创业板信息披露网站巨潮资讯 网（www.cninfo.com.cn）披露。为进一步提高公司治理水平，便于广大投资者 更深入、全面地了解公司情况和发展战略，公司定于 2025 年 5 月 15 日举行 2024 年度网上业绩说明会，现将有关事项公告如下： 一、业绩说明会的时间、形式和参与方式 会议时间：2025 年 5 月 15 日（星期四）15:00-17:00 证券代码：301606 证券简称：绿联科技 公告编号：2025-016 出席本次业绩说明会的人员有：公司董事长张清森先生、财务负责人兼董事 会秘书王立珍女士、独立董事高海军先生、保荐代表人王天琦先生。如遇特殊情 况，参会人员可能略有调整。 三、问题征集 为充分尊重投资者，提升交流的针对性，现就公司 2024 年度业绩说明会提 前向投资者公开征集问题，广 ...

Core Viewpoint - The company, Ugreen Technology (301606), reported significant growth in its first quarter of 2025, with a notable increase in revenue and net profit, driven by strong demand in its core product categories and strategic expansion in overseas markets [13]. Financial Performance - In Q1 2025, the company's main revenue reached 1.824 billion yuan, a year-on-year increase of 41.99% - The net profit attributable to shareholders was 150 million yuan, up 47.18% year-on-year - The net profit excluding non-recurring items was 143 million yuan, reflecting a 44.5% increase year-on-year - The gross profit margin stood at 38.01% [13] Product and Market Expansion - The company has seen rapid growth in its NS and mobile power businesses, particularly due to increased shipments in December of the previous year, leading to higher cash flow for inventory procurement [2] - Ugreen has expanded its product offerings to include new energy-related products such as car chargers and air pumps, which are expected to enhance overseas sales [3] - The company is focusing on expanding its market presence in the Americas and Europe, while also exploring opportunities in emerging markets [4] Cost Management and Pricing Strategy - Shipping costs, which account for approximately 2% of the company's main business costs, have not significantly impacted profitability despite recent increases [5] - The company maintains a diversified pricing strategy to manage the impact of tariffs, particularly in the U.S. market, where it plans to adjust prices to maintain profit margins [7][9] Talent Acquisition and Retention - Ugreen employs a dual strategy of internal development and external recruitment to enhance its talent pool, focusing on attracting individuals with international experience and industry expertise [12] Future Outlook - The charging product category is projected to continue its growth trajectory, with revenue in this segment reaching 2.349 billion yuan in 2024, a 50.87% increase year-on-year, accounting for 38.08% of total revenue [11] - The company aims to strengthen its product innovation and cost structure optimization to maintain competitiveness in overseas markets [8]

Financial Performance - In 2024, the company achieved a revenue of CNY 6.17 billion, a year-on-year increase of 28.46% [1] - The net profit attributable to shareholders was CNY 462 million, up 19.29% year-on-year [1] - R&D investment reached CNY 304 million, a growth of 40.87% compared to the previous year [1] - The revenue growth rate exceeded the net profit growth rate primarily due to an additional CNY 21.34 million in share-based payment expenses [1] Revenue Breakdown - Charging products saw a revenue increase of 50.87% [2] - Transmission products grew by 21.30%, audio-video products by 11.64%, storage products by 19.29%, and mobile peripherals by 16.21% [2] - Domestic revenue accounted for 42.53% of total revenue, growing by 10.11%, while overseas revenue made up 57.47%, increasing by 46.46% [2] Geographic Performance - The Asia (excluding mainland China) region contributed 20.68% of total revenue, with a growth of 50.07% [2] - Europe contributed 19.16% of revenue, up 45.80%, and the Americas contributed 15.7%, growing by 39.92% [2] - Other regions contributed 1.93% of revenue, with a significant increase of 75.93% [2] Sales Channels - Online sales represented approximately 75% of total revenue, primarily through platforms like Amazon, JD.com, and Tmall [2] - Offline sales accounted for about 25% of total revenue [2] Q1 2025 Performance - In Q1 2025, the company reported revenue of CNY 1.82 billion, a year-on-year increase of 41.99% [2] - The net profit attributable to shareholders for Q1 2025 was CNY 150 million, up 47.18% year-on-year [2] Inventory and Supply Chain - Inventory increased due to rapid growth in NAS and mobile power businesses, necessitating early procurement payments [4] - The company is expanding its product offerings in the new energy sector, including car-mounted charging pumps and lithium iron phosphate batteries [4] Market Strategy - The company is focusing on enhancing its market penetration in emerging markets, particularly in Asia (non-mainland) and Europe [6] - Despite rising shipping costs, the impact on business and profitability has been minimal, as shipping costs account for about 2% of the main business costs [6] Profitability - In 2024, the gross margin for domestic business was 28.30%, while for overseas business it was 44.11% [8] - The company is actively working on product innovation and cost optimization to maintain competitiveness in overseas markets [8] Talent Management - The company employs a dual strategy of internal development and external recruitment to attract and retain talent [9] - A competitive compensation system is in place to incentivize and retain skilled employees [9]

Core Viewpoint - The company reported a strong performance in Q1 2025, with revenue of 1.824 billion yuan, a year-on-year increase of 42.0%, and a net profit attributable to the parent company of 150 million yuan, up 47.2% year-on-year. This growth is attributed to the successful implementation of a globalization strategy and the positive sales impact of new product launches [1][2]. Revenue Growth and Product Matrix - Q1 2025 revenue growth accelerated to 42.0%, an increase of 13.5 percentage points compared to Q4 2024, primarily driven by new product introductions. The company enhanced its product matrix through increased R&D investment, launching new products such as high-power GaN fast chargers, second-generation NAS cloud storage products, and TWS headphones [2][3]. - At the CES event in January 2025, the company showcased new products including AI NAS and Nexode 500W GaN chargers, which are expected to contribute significantly to revenue growth in the current year [2]. Profitability and Financial Metrics - In Q1 2025, the company's gross profit margin was 38.0%, a decrease of 1.6 percentage points year-on-year, mainly due to a higher proportion of lower-margin storage products and increased shipping costs. The net profit margin increased by 0.3 percentage points year-on-year to 8.2% [3]. - The company reported financial expenses of -7.813 million yuan in Q1 2025, compared to -0.512 million yuan in Q1 2024, primarily due to foreign exchange gains from currency fluctuations [3]. Profit Forecast and Valuation - The company maintains its profit forecast, expecting net profits of 672 million yuan, 859 million yuan, and 1.081 billion yuan for 2025-2027, with corresponding EPS of 1.62, 2.07, and 2.60 yuan. The acceleration of the globalization strategy and the expansion of product categories are expected to enhance revenue and profit growth [4]. - As of April 28, the average PE ratio for comparable companies in 2025 is projected to be 29 times. The company is assigned a target PE of 40 times for 2025, corresponding to a target price of 64.80 yuan, maintaining a "buy" rating [4].

Investment Rating - The investment rating for the company is "Buy" with a target price of 64.80 RMB [7][8]. Core Views - The company reported a revenue of 1.824 billion RMB in Q1 2025, representing a year-on-year increase of 42.0%, and a net profit of 150 million RMB, up 47.2% year-on-year. This growth is attributed to the successful implementation of its globalization strategy and the positive sales performance of new products [1][2]. - The company is expected to continue expanding its product matrix and penetrating non-US markets, particularly in Europe and Southeast Asia, which will contribute to sustained revenue growth. The NAS storage segment is anticipated to enter a new phase of significant growth [1][4]. Summary by Sections Revenue Growth - In Q1 2025, the company's revenue growth accelerated to 42.0%, an increase of 13.5 percentage points compared to Q4 2024, primarily driven by new product launches. The company has enhanced its product offerings through increased R&D investment, introducing high-wattage GaN fast charging products, second-generation NAS cloud storage products, and TWS earphones [2][3]. Profitability - The gross profit margin for Q1 2025 was 38.0%, a decrease of 1.6 percentage points year-on-year, mainly due to a higher proportion of lower-margin storage products and increased shipping costs. The net profit margin improved by 0.3 percentage points year-on-year to 8.2% [3][4]. Financial Forecast and Valuation - The company maintains its profit forecasts, expecting net profits of 672 million RMB, 859 million RMB, and 1.081 billion RMB for 2025, 2026, and 2027, respectively. The estimated EPS for these years is projected to be 1.62 RMB, 2.07 RMB, and 2.60 RMB. The company is expected to enjoy a valuation premium due to its accelerating globalization strategy and product expansion [4][6].

Group 1 - The core viewpoint of the article highlights the impressive financial performance of Shenzhen Ugreen Technology Co., Ltd. in Q1 2025, with a revenue of 1.824 billion yuan, representing a year-on-year growth of 41.99%, and a net profit of 150 million yuan, up 47.18% year-on-year [2] - The company has accumulated a total of 1,628 domestic and international patents by the end of 2024, which supports product upgrades and innovation [2] - Ugreen Technology is focusing on five major product series, enhancing R&D in areas such as NAS private cloud storage, acoustic headphones, and charging technology, while integrating AI technology to meet evolving market demands [2] Group 2 - In the storage segment, the company launched the world's first AINAS product series iDX, featuring a built-in large language model and Intel Core Ultra processor, which supports advanced functions like image search and intelligent file management [2] - In the charging segment, Ugreen Technology continues to lead trends in fast charging, introducing various innovative products in 2024, including mobile power banks, new power strips, GaN chargers, and multi-functional wireless chargers [2] - The company has deepened its localized operations in overseas markets, establishing subsidiaries in key markets such as the US, Germany, and Japan, which enhances its brand influence and drives rapid growth in distribution channels [3] Group 3 - According to Huatai Securities, Ugreen Technology is expected to enter a new upward business cycle due to accelerated penetration in Europe and Southeast Asia, along with the expansion of NAS storage categories [3] - The company aims to continue focusing on user needs and seizing opportunities in the AI era, using technological innovation as a driving force to create valuable tech solutions for global consumers [3]