兴业证券股份有限公司 关于深圳市誉辰智能装备股份有限公司 保荐机构名称： 被保荐公司名称： 兴业证券股份有限公司 深圳市誉辰智能装备股份有限公司 联系方式：13564617817 保荐代表人姓名：尹涵 联系地址：上海市浦东新区长柳路 36 号丁 香国际商业中心东塔 10 层 联系方式：13501787067 保荐代表人姓名：王海桑 联系地址：上海市浦东新区长柳路 36 号丁 香国际商业中心东塔 10 层 兴业证券股份有限公司（以下简称"兴业证券"或"保荐机构"）作为深圳市誉辰 智能装备股份有限公司（以下简称"誉辰智能"或"公司"）首次公开发行股票并在科 创板上市的持续督导机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所 科创板股票上市规则》《上海证券交易所科创板上市公司自律监管指引第 1 号—规范运 作》《上市公司监管指引第 2 号—上市公司募集资金管理和使用的监管要求》等法律法 规的有关规定，对誉辰智能进行持续督导，并出具本年度持续督导跟踪报告。 于上市公司股东的净利润-12,798.75 万元，同比下降 327.99%；归属于上市公司股东的 扣除非经常性损益的净利润-13,570.64 万元，同 ...

Core Viewpoint - The company demonstrates strong revenue growth and profitability, with strategic investments in both traditional and emerging markets, particularly in the smart robotics sector, indicating a positive outlook for future performance [1][2][3][4]. Financial Performance - In 2024, the company achieved operating revenue of 971 million yuan, a year-on-year increase of 45.64%, and a net profit attributable to shareholders of 65 million yuan, up 34.47% [1]. - For Q1 2025, the company reported operating revenue of 286 million yuan, reflecting a year-on-year growth of 4.96%, and a net profit attributable to shareholders of 42 million yuan, which is a 36.13% increase [1]. Strategic Initiatives - The company is actively expanding its market presence and optimizing personnel allocation, resulting in increased sales and market share through partnerships with major supermarkets [2]. - A planned private placement aims to raise up to 785 million yuan for investments in new products, including lithium-powered garden machinery and smart robotics, alongside the establishment of a research center in Shanghai [2]. - The company has significantly increased its R&D investment, reaching 72.68 million yuan in 2024, a 137.55% increase year-on-year, focusing on innovation in garden machinery and smart robotics [2]. Growth Opportunities - The company is positioning itself in the smart robotics sector, having invested in the overseas robotics leader 1X and established partnerships with major international firms like SoftBank and OPENAI [3]. - The establishment of subsidiaries and collaborations, such as with Huawei, indicates a commitment to developing intelligent robotics, which is expected to become a new growth driver for the company [3]. Profit Forecast and Investment Outlook - The projected net profits for 2025-2027 are 102 million, 147 million, and 187 million yuan, respectively, with corresponding price-to-earnings ratios of 136, 95, and 75 times [4]. - The company is expected to enhance its market share in the overseas garden machinery sector while simultaneously expanding its smart robotics initiatives, which are anticipated to contribute positively to overall performance [4].

Group 1: Company Performance and Strategy - The company has established mass production capacity for lithium sulfide, primarily supplying solid-state battery research enterprises and academic institutions [1] - The company aims to improve its competitiveness in the lithium industry by optimizing production processes, enhancing management efficiency, and developing new products [1] - The consumer battery business has shown steady growth, with the company ranking among the top four in mobile phone batteries and second in earphone batteries in China [2] Group 2: Financial Health and Risk Management - The company's debt has exceeded 50%, but it maintains a strong cash reserve and stable funding channels to support its operations [2] - The company has a dedicated risk compliance management department to ensure all business activities are conducted legally and in compliance with regulations [2] - The company’s diversified business layout across lithium resources, lithium batteries, and battery recycling helps mitigate risks associated with market fluctuations [2] Group 3: Production and Supply Chain - The company plans to increase its lithium product output significantly in 2025, with expectations of a substantial rise in self-supply ratio due to the commissioning of its lithium projects [3] - The company is set to establish a demonstration line with a capacity of 5,000 tons for direct lithium extraction, which is expected to lower project costs and improve lithium recovery rates [3] - The company anticipates that the global demand for lithium will continue to grow, particularly in the new energy vehicle and energy storage sectors [4] Group 4: Market Outlook and Future Plans - The company is optimistic about the long-term development of the lithium battery sector, despite current market volatility [4] - The company is actively pursuing opportunities in new energy storage, aiming to create a comprehensive energy storage ecosystem [4] - The company expects to achieve a lithium salt supply of no less than 600,000 tons by 2030, indicating a strong commitment to scaling production [4]