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德瑞锂电(833523):业绩持续稳健增长,逐步加大国内市场开拓
Soochow Securities· 2025-08-27 08:33
Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company has shown steady growth in performance, with a revenue increase of 11.87% year-on-year in H1 2025, reaching 254 million yuan, and a net profit increase of 17.54%, amounting to 73.99 million yuan [7] - The company is gradually expanding its domestic market presence, with domestic revenue showing a slight increase, and plans to increase production capacity in response to strong demand for lithium manganese cylindrical batteries [7] - The report maintains previous profit forecasts, expecting net profits for 2025-2027 to be 173 million, 203 million, and 236 million yuan respectively, with corresponding P/E ratios of 16, 14, and 12 times [7] Financial Performance Summary - Total revenue for 2023 is projected at 346.38 million yuan, with a year-on-year growth of 23.79% [1] - The net profit attributable to the parent company for 2023 is expected to be 53.30 million yuan, reflecting a year-on-year increase of 20.77% [1] - The latest diluted EPS for 2023 is estimated at 0.53 yuan per share, with a P/E ratio of 52.42 times [1] Market Data - The closing price of the stock is 27.58 yuan, with a market capitalization of 2,793.89 million yuan [5] - The stock has a price-to-book ratio of 4.38 times and a one-year price range of 11.02 to 32.30 yuan [5] Financial Forecasts - The company is expected to achieve total revenue of 597.95 million yuan in 2025, with a year-on-year growth of 14.99% [1] - The projected net profit for 2025 is 173.11 million yuan, with a growth rate of 14.97% compared to 2024 [1] - The company's gross margin is expected to remain stable around 42% over the forecast period [8]
鹏辉能源(300438) - 300438鹏辉能源投资者关系管理信息20250509
2025-05-09 09:28
Financial Performance - In 2024, the company achieved a revenue of 7.961 billion CNY, an increase of 14.83% compared to the previous year [3] - The net profit attributable to shareholders was -252.46 million CNY, a decline of 685.72% year-on-year [3][5] Market Drivers - The demand for batteries is driven by carbon neutrality goals, leading to growth in energy storage, consumer, and power batteries [3] - Technological advancements have led to breakthroughs in battery platforms, including high energy density technology (>400Wh/kg) and low-temperature technology (-40℃) [3][4] Industry Trends - The global energy storage battery market is expected to see explosive growth, with a shipment scale of 314.7 GWh in 2024, a 60% increase year-on-year [6] - The consumer battery market is projected to grow at a compound annual growth rate (CAGR) of 6.24% from 2024 to 2032 [6] - The power battery market is anticipated to reach 894.4 GWh in installed capacity in 2024, a 27.2% increase year-on-year [6] Sector Performance - The lithium primary battery business generated revenue of 299.52 million CNY in 2024, a growth of 9.91% year-on-year [4] - The electric vehicle market is expanding, with sales of pure electric heavy trucks increasing by 139.4% to over 82,700 units [7]
德瑞锂电(833523):2024年报、2025一季报点评:2024年碳酸锂价格回落带动盈利回升,2025年有望保持稳增
Soochow Securities· 2025-04-29 06:58
Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The report indicates that the decline in lithium carbonate prices in 2024 will lead to a recovery in profitability, with expectations for stable growth in 2025 [1][7] - The company is projected to achieve significant revenue growth, with total revenue expected to reach 5.2 billion yuan in 2024, a year-on-year increase of 50% [7] - The net profit attributable to the parent company is forecasted to be 150.56 million yuan in 2024, representing a year-on-year increase of 182.47% [7] Financial Projections - Total revenue projections for the company are as follows: - 2023A: 346.38 million yuan - 2024A: 519.99 million yuan - 2025E: 597.95 million yuan - 2026E: 717.55 million yuan - 2027E: 861.05 million yuan - Year-on-year growth rates for total revenue are projected at: - 2024: 50.12% - 2025: 14.99% - 2026: 20.00% - 2027: 20.00% [1][8] - Net profit attributable to the parent company is forecasted as follows: - 2023A: 53.30 million yuan - 2024A: 150.56 million yuan - 2025E: 173.11 million yuan - 2026E: 202.70 million yuan - 2027E: 236.02 million yuan - Year-on-year growth rates for net profit are projected at: - 2024: 182.47% - 2025: 14.97% - 2026: 17.09% - 2027: 16.44% [1][8] Valuation Metrics - The latest diluted EPS (Earnings Per Share) projections are: - 2023A: 0.53 yuan - 2024A: 1.49 yuan - 2025E: 1.71 yuan - 2026E: 2.00 yuan - 2027E: 2.33 yuan - The P/E (Price to Earnings) ratios based on the latest diluted EPS are: - 2024: 17.43 - 2025: 15.16 - 2026: 12.94 - 2027: 11.12 [1][8]
鹏辉能源2024营收同增14.83%
起点锂电· 2025-04-24 10:05
4月24日,鹏辉能源连续披露2024年及2025年一季度业绩情况,两段时期公司营收均实现增长。 具体来看, 2024年, 鹏辉能源实现营收79.61亿元,同比增长14.83% ; 净利润-2.52亿元;扣非净利润-3.22亿元。 2025年一季度, 鹏辉能源实现营收16.9亿元, 同比增长5.83% ; 净利润-4498.31万元; 扣非净利润-8030.16万元。 据鹏辉能源2024年年报显示,目前其业绩来源主要为 锂离子电池产品,广泛应用于消费、储能、动力等多个领域。去年锂离子电池营收 73.63亿元,同比增加15.11%,占营收比重为92.50%。 | | | | | | 单位:元 | | --- | --- | --- | --- | --- | --- | | | 2024 年 | | 2023 年 | | 同比增减 | | | 金额 | 占营业收入比重 | 金额 | 占营业收入比重 | | | 营业收入合计 | 7,960,507,262.1 | 100% | 6,932,475,479.7 | 100% | 14. 83% | | | 3 | | 5 | | | | 分行业 | | | | | ...