2024年，安克创新实现的营业收入、归母净利润分别约为247亿元、21亿元，同比增长约41%、31%。 长江商报记者发现，2018年至2024年的七个年度，安克创新实现的营收和净利连续双双快速增长。 安克创新是全球化的知名消费电子品牌企业，核心产品即为充电储能类。2024年，该类产品贡献了公司 一半以上的营业收入。 安克创新注重品牌打造及技术革新。2024年，公司销售费用、研发费用分别为55.70亿元、21.08亿元。 Anker已经成为全球知名品牌，安克创新拥有全球140多个国家与地区超1亿用户。 值得一提的是，今年初，安克创新曾被曝出拿8亿元奖金进行分红。实际情况如何？ 长江商报记者粗略计算发现，2024年，安克创新员工平均薪酬65.92万元，同比上涨约31.5%。 "充电宝一哥"安克创新（300866）(300866.SZ)经营业绩继续高速增长。 根据近期披露的一季度报告，今年前三个月，安克创新实现营业收入约60亿元，同比增长约37%；归属 母公司股东的净利润(简称"归母净利润")4.96亿元，同比增长约60%，继续保持快速增长的良好发展势 头。 安克创新成立于2011年，是国内营收规模最大的全球化消费 ...

证券研究报告 公司研究 [Table_ReportType] 公司点评报告 [Table_StockAndRank] 安克创新(300866) 投资评级 无评级 上次评级 [Table_Author] 姜文镪 新消费行业首席分析师 执业编号：S1500524120004 邮 箱： jiangwenqiang@cindasc.com 骆峥 新消费行业分析师 执业编号：S1500525020001 邮 箱： luozheng1@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦B 座 邮编：100031 [Table_S 事件：公司ummar 发布y]2024 年年报及 2025 年一季报。24 年公司实现收入 247.10 亿元（同比+41.1%，下同），归母净利润 21.14 亿元（+30.9%），扣非归母 净利润 18.88 亿元（+40.5%）；24Q4 公司实现收入 82.61 亿元（+44.4%）， 归母净利润 6.43 亿元（+60.1%），扣非归母净利润 5.85 亿元（+39.1%）； 25Q1 公司实现收入 ...

Investment Rating - The investment rating for the company is "Buy" [5] Core Insights - The company reported impressive revenue growth, with 2024 revenue reaching 24.71 billion yuan, a year-on-year increase of 41.14%, and a net profit of 2.11 billion yuan, up 30.93% year-on-year [1] - For Q1 2025, the company achieved revenue of 5.99 billion yuan, reflecting a year-on-year growth of 36.91%, and a net profit of 496 million yuan, which is a significant increase of 59.57% year-on-year [1] Revenue Performance by Segment - In 2024, the charging and energy storage segment generated revenue of 12.67 billion yuan, up 47.23% year-on-year, with the energy storage business alone achieving 3.02 billion yuan, a remarkable growth of 184.00% [2] - The smart innovation segment reported revenue of 6.34 billion yuan, increasing by 39.53% year-on-year, while the smart audio segment generated 5.69 billion yuan, up 32.84% year-on-year [2] Revenue Performance by Channel - Online channels contributed 17.60 billion yuan in revenue in 2024, a year-on-year increase of 71.23%, with independent sites achieving 2.50 billion yuan, up 101.34% [2] - Offline channels generated 7.11 billion yuan, reflecting a year-on-year growth of 36.72% [2] Revenue Performance by Region - Domestic revenue reached 885 million yuan in 2024, up 38.71% year-on-year, while overseas revenue was 23.83 billion yuan, increasing by 41.23% year-on-year [3] - For Q1 2025, domestic revenue was 255 million yuan, a growth of 55.44% year-on-year, and overseas revenue was 5.74 billion yuan, up 36.18% year-on-year [3] Profitability and R&D Investment - The company's gross margin for 2024 was 43.67%, a slight increase of 0.14 percentage points year-on-year, while Q1 2025 gross margin was 43.28%, down 1.84 percentage points year-on-year [4] - R&D expenses for 2024 amounted to 2.11 billion yuan, representing a year-on-year increase of 49.13% [4] Future Earnings Forecast - The company is projected to achieve revenues of 31.00 billion yuan and 40.26 billion yuan in 2025 and 2026, respectively, with a new forecast for 2027 revenue at 52.08 billion yuan, reflecting year-on-year growth rates of 25.5%, 29.9%, and 29.4% [11] - Expected net profits for 2025 and 2026 are 2.60 billion yuan and 3.55 billion yuan, respectively, with a new forecast for 2027 net profit at 4.81 billion yuan, indicating year-on-year growth rates of 23.0%, 36.3%, and 35.7% [11]

Investment Rating - The investment rating for the company is "Buy" [5] Core Insights - The company reported impressive revenue growth, with 2024 revenue reaching 24.71 billion yuan, a year-on-year increase of 41.14%, and a net profit of 2.11 billion yuan, up 30.93% year-on-year [1] - In Q1 2025, the company achieved revenue of 5.99 billion yuan, reflecting a year-on-year growth of 36.91%, and a net profit of 0.50 billion yuan, which is a significant increase of 59.57% year-on-year [1] Revenue Performance - In 2024, the charging and energy storage products generated revenue of 12.67 billion yuan, up 47.23% year-on-year, with the energy storage segment alone achieving 3.02 billion yuan, a remarkable growth of 184.00% [2] - The online sales channel in 2024 generated 17.60 billion yuan, a year-on-year increase of 71.23%, with independent sites contributing 2.50 billion yuan, up 101.34% [2] - The company’s domestic revenue in 2024 was 0.88 billion yuan, up 38.71% year-on-year, while overseas revenue reached 23.83 billion yuan, growing by 41.23% year-on-year [3] Profitability and R&D Investment - The gross margin for 2024 was 43.67%, a slight increase of 0.14 percentage points year-on-year, while Q1 2025 gross margin was 43.28%, down 1.84 percentage points year-on-year [4] - The company invested 2.11 billion yuan in R&D in 2024, marking a year-on-year increase of 49.13% [4] Future Earnings Forecast - The company’s projected revenue for 2025 and 2026 is 31.00 billion yuan and 40.26 billion yuan, respectively, with a year-on-year growth of 25.5% and 29.9% [11] - Expected net profit for 2025 and 2026 is 2.60 billion yuan and 3.55 billion yuan, reflecting year-on-year growth of 23.0% and 36.3% [11] - The estimated EPS for 2025 and 2026 is 4.90 yuan and 6.67 yuan, respectively [11]