Core Viewpoint - Ananda Drive Technology (Shanghai) Co., Ltd. reported a revenue increase of 7.07% in 2024, but net profit decreased by 25.66%, indicating a situation of revenue growth without profit growth due to rising costs and market competition [1][4][28]. Group 1: Financial Performance - In 2024, the company achieved operating revenue of 1,528.34 million yuan, up from 1,427.47 million yuan in 2023, reflecting a growth of 10.09 million yuan [3][5]. - The net profit attributable to the parent company was 109.96 million yuan, down from 147.55 million yuan in 2023, a decline of 25.48% [3][21]. - The comprehensive gross profit margin for the past three years averaged 21.28%, with a notable decrease in gross margins across various product lines [1][4][29]. Group 2: Reasons for Profit Decline - The primary reasons for the profit decline include: - A decrease in gross margin for direct drive hub motors due to short-term fluctuations in raw material prices and intensified market competition [4][9][28]. - An increase in selling, administrative, and research expenses (collectively referred to as "three expenses") by 23.47%, amounting to an increase of 31.43 million yuan [12][28]. Group 3: Product Performance - The main products include hub motors, mid-mounted motors, controllers, and others, with direct drive hub motors being the primary focus for domestic sales [5][6]. - The gross profit margin for direct drive hub motors fell from 8.97% in 2023 to 6.54% in 2024, a decrease of 2.43 percentage points [8][29]. - The sales price of direct drive hub motors decreased by 8.71%, while the unit cost also dropped by 6.27%, indicating a challenging pricing environment [8][29]. Group 4: Market Environment - The electric two-wheeler market in China is experiencing a decline in demand due to stricter regulatory measures, with a reported 11.6% drop in total sales in 2024 [17][19]. - The competitive landscape is intensifying, particularly in the domestic direct drive hub motor market, which is affecting profit margins [11][19]. - The company’s peers, such as Bafang Technology, also reported declines in revenue and profit margins, indicating a broader industry trend [21][28].

Core Viewpoint - The significant increase in prepaid expenses for Anada Drive Technology (Shanghai) Co., Ltd. is primarily due to the company's strategy to lock in prices with suppliers to mitigate raw material price volatility, which aligns with industry practices [1][6][10]. Prepayment Items - The company's prepaid expenses reached 14.2572 million yuan, a year-on-year increase of 598.14%, with the balance for Supplier 1 accounting for 11.1598 million yuan, or 78.28% of total prepaid expenses [1][2]. - The top five prepaid suppliers include various entities, with total procurement amounts and prepayment ratios disclosed, indicating that the increase in prepaid expenses is reasonable given the company's business context and industry norms [2][6]. Supplier Relationships - Supplier 1 has been providing customized products and has the capability to respond to the company's needs for locking in prices for key raw materials, thus ensuring production continuity [4][10]. - There are no existing relationships or financial transactions between Supplier 1 and the company beyond normal procurement activities, confirming the legitimacy of the transactions [6][10]. Inventory - The company's inventory amounted to 189 million yuan, reflecting a year-on-year increase of 45.55%, with raw materials increasing by 40% and finished goods by 54.84% [10][11]. - The growth in inventory is attributed to the rising demand in the electric vehicle industry, with the company preparing for increased orders as new regulations come into effect [11][13]. Sales and Production - The company has seen a steady increase in sales revenue for its hub motors and mid-mounted motors over the past three years, indicating a growing customer demand [14]. - The production capacity and utilization rates for hub motors and mid-mounted motors have improved, with the company expanding its production lines to meet increasing market demand [13][14]. Financial Performance - The company's main business revenue for the first four months of 2025 was 655.7915 million yuan, with a corresponding cost of 552.0589 million yuan, showing a significant increase compared to the same period in 2024 [21][22]. - The inventory turnover ratios and sales performance indicate that the company is effectively managing its inventory and meeting customer demand, with no significant risks of unsold inventory [20][21].

②半导体投资联盟，纵慧芯光完成数亿元人民币融资/本轮融资所募资金将用 于企业FAB产线建设/新产品研发/光通信市场开拓等/夯实并不断提升纵慧芯 光在全球光芯片领域的综合竞争实力/ ③ 大话芯片，我国自主研发的新一代国产通用处理器——龙芯3C6000在北 京发布/性能相当于2023年或者2024年市场主流产品的水平/采用我国自主 设计的指令系统龙架构/无需依赖任何国外授权技术/也不依赖任何境外的供 应链/是我国自主研发/自主可控的新一代通用处理器/可满足通算/智算/存 储/工控/工作站等多场景的计算需求/ ④电子发烧友网，国内微型传动系统龙头兆威机电推出了全新品牌PREETO/ 正式入局eBike市场/与DJI Avinox包含助力单元/电池和车载屏幕的全套方案 不同/PREETO专注于eBike中置电机/为自动车整车厂提供一站式动力解决方 案/ 公司公告 行情速递 ① 主 板 领 涨 ， 欢 瑞 世 纪 (+10.09%)/ 延 华 智 能 (+10.09%)/ 合 力 泰 (+10.04%)/ 吉 大 正 元 (+10.01%)/好上好 (+10.01%)/ ② 创业板领涨，唯特偶(+20.02%)/科创信 ...

深圳市兆威机电股份有限公司 证券代码：003021 证券简称：兆威机电编号：2025-005 | | □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 | | | | --- | --- | --- | --- | | 投资者关系活动 类别 | | | | | | □新闻发布会 □路演活动 | | | | | □现场参观 | | | | | 其他（深交所 2025 全球投资者大会） | | | | 5 活动参与人员 | 家机构（共 6 人）参与于 2025 年 5 月 20 日举行的深交所 | | 2025 | | | | 全球投资者大会，其中包括： | | | | Hongshan Group 、 Redient Capital 、 Grand Alliance | | Asset | | | Management、Hua Capital、汇丰前海证券 | | | | 时间 | 年 月 日 2025 5 20 | | | | 地点 | 深圳市福田区深南大道 号 6001 | | | | 形式 | 线下交流 | | | | 上市公司接待人 | 董事会秘书：牛东峰先生 | | | | 员姓名 | 投资者 ...

安乃达 20250512 摘要 • 安乃达 2024 年营收 15.1 亿元，净利润 1.1 亿元，同比下降 25%；2025 年 Q1 收入同比增长 50%，但净利润略降 9%，主要受益于海外业务增长 约 1,000 万元和国内电动自行车业务 50%的增长。 • 公司主营国内电动自行车和海外电助力自行车（E-bike），并拓展电动轮 椅、无人工割草机电机等产品线。2024 年国内电动自行车销售额 10.8 亿 元，毛利率 6.5%；E-bike 销售额 4.3 亿元，中置电机毛利率 55%，轮毂 电机毛利率 30%。 • 安乃达国内市场主要客户为雅迪和台铃，市占率超 10%，雅迪和台铃采购 份额占比 25%-30%。欧洲市场 E-bike 电机市占率接近 10%。 • 国内电动自行车电机均价约 150-160 元，竞争激烈，预计 2025 年价格略 降，但市场份额提升有望稳定价格。海外中置电机均价约 1,200 元人民币， 轮毂电机单价约 170 元人民币，总价约 600-700 元人民币。 • 海外中置电机市场主要竞争对手为博世、禧玛诺和雅马哈，国内八方股份 也有批量供应，安乃达具备性价比优势，毛利率稳定 ...

洛梵狄iGearbox系列的核心突破在于其自研的DynaSync智能自动换挡技术，能够有效解决上述问题，该 技术构建了传感、决策、执行三层协同体系，能实时收集骑行时的踏频、扭矩、坡度、速度等关键数 据。通过先进的AI动态学习算法，对骑行状态进行精准分析，预判0.2秒内就能自动匹配最适宜的挡 位。 文｜张子怡 编辑｜袁斯来 在近期举行的2025中国国际自行车展览会上，智能短途出行核心供应商洛梵狄在展会上展示其最新系列 产品——iGearbox，产品以"智能电子控制+自动变速"为核心，希望助推EBike从"机械手动挡"变速进 入"智能自动挡"变速。 传统变速器在Ebike的实际使用中，存在不少痛点，例如高挡位起步卡顿，停车后维持高挡位导致起步 阻力极大，用户需多次手动调整才能启动，上坡场景无法自动降档、导致骑行不够顺畅的问题。 目前，洛梵狄在专注技术研发与产品创新的同时，也秉持开放合作态度，可依据客户需求定制换挡逻 辑，例如为越野、载货等特殊用途车型开发专用参数，共同打造差异化产品。 具体来看，该产品具备双重变速模式。自动智能变速模式下，把换挡操作完全交给系统，也可以选择个 性化操控，支持蓝牙指拨手动变速，兼容骑 ...

安乃达驱动技术 投分有限公司 Ananda Drive Techn ues (Shanghai) Co., Ltd. (上海市闵行区光中路 133 弄 19号 A 座 1-2 层) 安乃达驱动技术（上海）股份有限公司 招股说明书（上会稿） 发行人声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发 行人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表 明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保 证。任何与之相反的声明均属虚假不实陈述。 首次公开发行股票并在主板上市 招股说明书 (上会稿) 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行 承担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风 险。 声明:本公司的发行上市申请尚需经上海证券交易所和中国证监会履行相应程序。 本招股说明书(上会稿)不具有据以发行股票的法律效力,仅供预先披露之用。投 资者应当以正式公告的招股说明书作为投资决定的依据。 保荐机构(主承销商) 中泰证券股份有限公司 ZHONGTA ...

安乃达驱动技术（上海）股份有限公司 Ananda Drive Techniques（Shanghai）Co., Ltd. （上海市闵行区光中路 133 弄 19 号 A 座 1-2 层） 首次公开发行股票并在主板上市 招股说明书 （申报稿） 声明：本公司的发行上市申请尚需经上海证券交易所和中国证监会履行相应程序。 本招股说明书（申报稿）不具有据以发行股票的法律效力，仅供预先披露之用。投 保荐机构（主承销商） 资者应当以正式公告的招股说明书作为投资决定的依据。 （济南市市中区经七路 86 号） 安乃达驱动技术（上海）股份有限公司 招股说明书（申报稿） 发行人声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发 行人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表 明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保 证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行 承担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风 险 ...