中银证券：中银晨会聚焦-20240904

Core Insights - The report highlights the performance of several companies, including Wanhu Chemical, Yake Technology, and Yiwei Lithium Energy, with a focus on their financial results and market dynamics [1][9]. Company Summaries Wanhu Chemical - In the first half of 2024, Wanhu Chemical reported a revenue of 1.78 billion yuan, a year-on-year decrease of 28.2%, and a net profit attributable to shareholders of -820 million yuan, showing a reduction in losses by 59.66 million yuan [2]. Yake Technology - Yake Technology's revenue for the first half of 2024 was 206 million yuan, reflecting a year-on-year increase of 32.07%. The net profit attributable to shareholders was -35 million yuan, indicating a reduction in losses by 34.23% due to market recovery and successful product expansion [5][6]. Yiwei Lithium Energy - Yiwei Lithium Energy achieved a profit of 2.137 billion yuan in the first half of 2024, with a revenue of 21.659 billion yuan, a year-on-year decline of 5.73%. The net profit attributable to shareholders decreased by 0.64%, while the net profit excluding non-recurring items increased by 19.32% [9][10]. Industry Performance - The report indicates that the power equipment sector saw a growth of 2.21%, while the computer sector grew by 2.04%. Other sectors such as household appliances and automotive manufacturing also experienced positive growth [1]. Market Trends - The demand for MEMS acoustic sensors and MEMS sensors is expected to grow significantly, driven by the recovery of the terminal market and the expansion of new products [5][6]. - The human-shaped robot market in China is projected to reach 2.158 billion yuan in 2024, with a compound annual growth rate exceeding 61% from 2024 to 2030 [7]. Financial Metrics - For Yake Technology, the gross margin improved to 21.43%, an increase of 5.7 percentage points year-on-year, while the net margin was -17.42%, up by 17.19 percentage points [6]. - Yiwei Lithium Energy's consumer battery segment achieved a revenue of 4.849 billion yuan, a year-on-year increase of 29.75%, with a gross margin of 28.31%, up by 7.01 percentage points [10]. Strategic Developments - Yake Technology is actively exploring international opportunities, with a focus on markets in Indonesia, Oman, and Egypt, while also developing AI-driven security solutions [3]. - Yiwei Lithium Energy is advancing its large cylindrical battery production, having delivered 21,000 units by mid-2024, with applications extending beyond automotive to other sectors [10].