欣旺达：消费电池盈利能力明显提升 动力电池出货量实现高增

Investment Rating - The investment rating for the company is "Buy" [2][5][6] Core Views - The company's revenue for H1 2024 reached 23.918 billion yuan, a year-on-year increase of 7.57%, while the net profit attributable to shareholders was 0.824 billion yuan, up 87.89% year-on-year [2][3] - The company's gross profit margin improved to 16.59% [2] - The significant increase in the company's power battery shipment volume, which reached 8.33 GWh, represents a year-on-year growth of 66.93% [3] - The company has made notable advancements in new product development, including the launch of the "Flash Charge" battery series and the development of next-generation batteries [3][5] Financial Performance Summary - For H1 2024, the company achieved a revenue of 239.18 billion yuan and a net profit of 8.24 billion yuan, with a gross profit margin of 16.59% [2][3] - The company’s total share capital is 1.862 billion shares, with a total market value of 30.4 billion yuan [2] - The forecast for net profit attributable to shareholders for 2024-2026 is 1.781 billion, 2.194 billion, and 2.349 billion yuan respectively, with corresponding EPS of 0.96, 1.18, and 1.26 yuan [5][6]