力高新能累计完成多轮融资，烟台揽峰股权投资合伙企业（有限合伙）为第一大控股股东，持股 30.6%。 王翰超为合肥揽峰执行事务合伙人深圳揽峰100%股东，为烟台望徽、烟台财高的执行事务合伙人。王 翰超通过前述主体间接控制力高新能39.58%股权的表决权，系力高新能的实际控制人。 王翰超，出生于1976年4月，中国国籍，北京大学理学学士，无境外永久居留权。1999年7月至1999年12 月，就职于上海大唐移动通信设备有限公司；2000年1月至2008年3月，担任华为技术有限公司代表处副 代表；2008年4月至2015年3月，担任华为技术有限公司全球交通行业系统部部长；2015年4月至今，担 任江苏国泰华汇实业发展有限公司总经理、董事；2016年7月至今，历任力高有限、力高新能董事、董 事长。 瑞财经 王敏 11月11日，力高新能源技术股份有限公司（以下简称"力高新能"）在山东证监局启动IPO辅 导备案，辅导机构为中信建投证券。 据悉，力高新能曾于2023年6月26日由海通证券保荐向深交所递交了创业板上市申请材料。审核中，力 高新能综合考虑自身经营规划情况及我国资本市场的市场环境等因素，于2024年8月19日撤回首 ...

Investment Rating - The report maintains a "Recommended" rating for the company [4][6]. Core Insights - The company has demonstrated steady growth in performance, with a revenue of 5.188 billion yuan for the first three quarters of 2025, representing a year-over-year increase of 14.14%. The net profit attributable to shareholders reached 359 million yuan, up 19.32% year-over-year [2][4]. - In Q3 2025 alone, the company achieved a revenue of 1.998 billion yuan, reflecting a year-over-year growth of 26.03% and a quarter-over-quarter increase of 14.25%. The net profit for the quarter was 122 million yuan, showing a significant year-over-year increase of 81.92% [2][4]. - The company plans to distribute a cash dividend of 6 yuan for every 10 shares, totaling an expected payout of 163 million yuan, continuing its stable dividend policy [2][4]. Financial Performance Summary - For the first three quarters of 2025, the gross margin was 20.56%, an increase of 2.48 percentage points year-over-year, while the net profit margin was 6.98%, up 2.50 percentage points year-over-year [2][4]. - The company has seen a continuous increase in the proportion of new businesses, such as electric control systems for new energy vehicles and portable energy storage, which rose from 20.92% in H1 2024 to 28.56% in H1 2025 [2][4]. - The revenue projections for 2025 to 2027 are 7.934 billion yuan, 10.077 billion yuan, and 12.666 billion yuan, respectively, with corresponding net profits of 588 million yuan, 800 million yuan, and 1.061 billion yuan [5][8]. Business Development - The establishment of a branch in Hangzhou and partnerships with Texas Instruments and Renesas Electronics are aimed at accelerating the development of AI server power supplies [3][4]. - The company has developed a comprehensive product matrix in the server power supply sector, covering power ranges from 550W to 8000W, and has achieved large-scale delivery of products [3][4]. - The collaboration with Texas Instruments focuses on server power supplies and fast charging adapters, while the partnership with Renesas aims to enhance the company's technology layout in AI server power supplies and data center energy solutions [3][4].