证券代码：688516 证券简称：奥特维 无锡奥特维科技股份有限公司 投资者关系活动记录表 投资者 □特定对象调研 □分析师会议 □媒体采访 √业绩说明会 关系活 □新闻发布会 □路演活动 □现场参观 √电话会议 动类别 参与单 易方达、嘉实基金、博时基金、南方基金、鹏华基金、景顺长城、国泰基金、中欧基金、摩根 位名称 大通、Morgan Stanley等共计154家投资机构及证券公司 时间 2024年4月23日 16:00-17:30 地点 公司会议室 上市公 董事长葛志勇先生、董事会秘书周永秀女士、研发总监季斌斌先生、证券部李翠芬、陶敏 司 接待人 员姓名 燕、张秋仪、缪子健 投资者关系活动主要内容 （一）2024年一季度公司业绩情况介绍： 公司2024年一季度实现收入19.64亿元，同比增长89.06%；归母净利润3.33亿 元，同比增长50.44%；扣非归母净利润3.39亿元，同比增长61.25%。 订单方面，2024 年一季度，公司新签订单 34.45 亿元，同比增长 31.5%；截止 2024年3月31日，公司在手订单143.51亿元，同比增长64.11%。 （二）交流的主要问题以及公司回复精要 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the coming months [4]. Core Views - The company reported Q1 2024 results that met expectations, with revenue of 1.964 billion yuan, a year-on-year increase of 89.06%, and a net profit of 333 million yuan, up 50.44% year-on-year. The new signed orders reached 3.445 billion yuan, reflecting a 31.50% year-on-year growth, showcasing the company's resilience in a challenging market [1][2]. - The company is positioned as a leader in the photovoltaic equipment sector, particularly benefiting from the rapid adoption of 0BB technology, which is expected to drive significant growth in the coming years [2]. Summary by Sections Financial Performance - In Q1 2024, the company achieved a revenue of 1.964 billion yuan, representing an increase of 89.06% year-on-year. The net profit attributable to shareholders was 333 million yuan, up 50.44% year-on-year, while the net profit excluding non-recurring items was 339 million yuan, a year-on-year increase of 61.25% [1]. - The company’s gross margin was 34.52%, down 2.08 percentage points year-on-year, and the net margin was 18.31%, down 2.50 percentage points year-on-year, attributed to a more diversified product structure [1]. Order and Market Position - As of March 31, 2024, the company had new signed orders totaling 3.445 billion yuan, a year-on-year increase of 31.50%. The total backlog of orders stood at 14.351 billion yuan, reflecting a 64.11% year-on-year growth [1]. - The company has maintained a strong market position, with over 60% market share in the string welding machine segment and significant advancements in TOPCon technology [2]. Future Projections - The report projects the company’s net profit for 2024 to be 1.84 billion yuan, with expected growth rates of 47%, 32%, and 18% for the years 2024, 2025, and 2026, respectively. The current stock price corresponds to a price-to-earnings ratio (P/E) of 13, 10, and 8 times for the respective years [2][3].

金利润是3.33,同比增长是50.4%,新签订单34.45,同比增长是31.5%,在手订单是143.51,同比增长是64%,基因性现金流是-2.04个亿, 2023年的QE是7400多万,这个是非常遗憾的一个指标,因为公司是上市以来首次经营性现金流为富。我先就几个重要的财务指标和大家做一个简单的沟通。 第一个经济现金流的维护的主要原因是客户付款的这个节奏是在放缓的而且客户的支付的方式也由现金更多的改为我们的票据这个在会计处理上票据支付是不能进到经济性现金流的这是第一个第二个非经济性损益的供应链价值变动的是负的1495万 该事项是因为公司参股的两家公司 欧普泰和埃克光电在一季度的时候股价大幅下跌其中欧普泰是 按照这个公引价值计算是负的918万然后挨扣挂料是800多万当然我们还有一些这个现金理财的收益所以一共是负了1495万特地给大家说明一下是公司是不会购买有任何风险的信托产品这样的一些理财产品所以这一点请大家放心 不会有投资者担心的情况出现第三个合同负债的QE是35.6亿相比2023年的刺激度是略有下降的 这是因为公司3月末的一些订单已经确认但是它的预付款可能在4月初收到那我们这个合同负债是寄到4月份的同时公司 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][4][6] Core Insights - The company has abundant orders on hand, with a significant increase in revenue and net profit in both the 2023 annual report and the 2024 Q1 report. The revenue for Q1 2024 reached 1.964 billion yuan, a year-on-year increase of 89.06%, while the net profit attributable to shareholders was 333 million yuan, up 50.44% year-on-year [2][3] - The company has achieved substantial growth in its photovoltaic equipment, lithium battery equipment, and semiconductor businesses, with new orders signed amounting to 13.094 billion yuan in 2023, reflecting a year-on-year growth of 77.57% [3][4] - The company is advancing its product development in the photovoltaic sector, particularly with the 0BB technology, and has secured significant orders from leading clients [4][6] Financial Performance Summary - For 2023, the company reported total revenue of 6.302 billion yuan, a year-on-year increase of 78.05%, and a net profit of 1.256 billion yuan, up 76.10% year-on-year [2][5] - The company expects to achieve revenues of 9.503 billion yuan, 12.516 billion yuan, and 14.626 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 1.835 billion yuan, 2.408 billion yuan, and 2.913 billion yuan [4][5] - The company's gross margin for 2023 was 36.55%, with a slight decrease compared to the previous year, while the net profit margin was 19.93% [3][4] Market Position and Strategy - The company is strategically positioned in the photovoltaic, lithium battery, and semiconductor sectors, with a focus on technological advancements and market expansion [4][6] - The company has a strong order backlog, with total orders on hand amounting to 13.204 billion yuan as of December 31, 2023, reflecting a year-on-year increase of 80.33% [3][4] - The company is expected to maintain a solid position in the string welding machine market and continue to push forward with new product developments [4][6]

奥特维（688516） 公司研究/公司点评 Q 1 业绩符合预期，订单持续增长，平台化持续推进 投资评级：买 入（维持） 主要观点： 报告日期： 2024-4-24  事件概况 收盘价（元） 102.31 奥特维于 2024 年 4 月 22 日发布 2024 年第一季度报告：2024 年一 近12个月最高/最低（元）1 35.87/68.38 季度实现营业收入为19.64亿元，同比增长89.06%，主要原因是公司产 总股本（百万股） 224.09 品技术优势进一步体现，客户加大了对公司产品的采购量，从而使公司 流通股本（百万股） 206.81 销售收入持续稳定增长；归母净利润为3.33亿元，同比增长50.44%。 流通股比例（%） 92.29%  订单保持充沛，保障高速增长 总市值（亿元） 229.27 2024 年第一季度，公司签署销售订单 34.45 亿元，2023 年同期为 流通市值（亿元） 211.59 26.20 亿元，同比增长 31.50%；截止 2024 年 3 月 31 日，公司在手订单 公司价格与 沪深300走势比较 143.51亿元，2023年同期为87.45亿元，同比增长64.11 ...

[Table_Page] 季报点评|专用设备 证券研究报告 [奥Table_特Title] 维（688516.SH） [公Tab司le_I评nves级t] 买入 当前价格 102.31元 业绩符合预期，设备订单依然高增 合理价值 168.79元 前次评级 买入 [ 核Tabl 心e_Su 观mm 点ary] ： 报告日期 2024-04-23 ⚫ 业绩持续高增。公司于 4 月 22 日发布一季报，24Q1 公司实现营收 [相Tab对le_P市icQ场uote表] 现 19.64 亿元，同比+89.06%，归母净利润 3.33 亿元，同比+50.44%， 扣非归母净利润 3.39 亿元，同比+61.25%；毛利率 34.52%，同比 30 % 16% -2.08pct，环比-1.68pct，净利率18.31%，同比-2.50pct，环比-0.99pct。 2% ⚫ 订单依然高增。24Q1 公司签署销售订单 34.45 亿元（含税），同比 04/23 06/23 08/23 10/23 12/23 02/24 04/24 -12% +31.50%；截止 2024年3月31日，公司在手订单143.51亿元（含 -2 ...

证券研究报告·公司点评报告·光伏设备 奥特维（688516） 2024 年一季报点评：业绩持续高增，平台化 2024年 04月 23日 布局下新签订单增长 30%+ 证券分析师 周尔双 买入（维持） 执业证书：S0600515110002 021-60199784 盈[T 利ab 预le_ 测EP 与S 估] 值 2022A 2023A 2024E 2025E 2026E zhouersh@dwzq.com.cn 研究助理 李文意 营业总收入（百万元） 3,540 6,302 9,213 12,060 14,892 执业证书：S0600122080043 同比（%） 72.94 78.05 46.19 30.90 23.48 liwenyi@dwzq.com.cn 归母净利润（百万元） 713.11 1,255.82 1,837.73 2,350.23 2,989.43 同比（%） 92.36 76.10 46.34 27.89 27.20 股价走势 EPS-最新摊薄（元/股） 3.18 5.60 8.20 10.49 13.34 奥特维 沪深300 P/E（现价&最新摊薄） 32.15 18.26 12.4 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [6][7]. Core Insights - The company reported Q1 2024 revenue of 1.964 billion RMB, a year-on-year increase of 89.06%, and a net profit of 333 million RMB, up 50.44% year-on-year, aligning with expectations [2]. - The company has a strong order backlog of 14.351 billion RMB, reflecting a 64.11% year-on-year growth, with new orders in Q1 amounting to 3.445 billion RMB, a 31.5% increase year-on-year [2]. - R&D investment in Q1 2024 reached 86.3826 million RMB, a 35.53% increase year-on-year, focusing on advancing 0BB welding technology [2]. - The company has established strong partnerships in the semiconductor sector, which is expected to lead to a significant increase in orders [2]. Summary by Sections Financial Performance - Q1 2024 revenue: 1.964 billion RMB, up 89.06% YoY, down 4.8% QoQ [2]. - Q1 2024 net profit: 333 million RMB, up 50.44% YoY, down 17.7% QoQ [2]. - Gross margin for Q1 2024 was 34.52%, a decrease of 2.08 percentage points YoY [2]. Order and Market Position - The company has a current order backlog of 14.351 billion RMB, a 64.11% increase YoY [2]. - The company signed new orders worth 3.445 billion RMB in Q1 2024, a 31.5% increase YoY [2]. - The company holds over 70% market share in string welding equipment, positioning it well for the upcoming 0BB technology updates [2]. Research and Development - R&D expenditure in Q1 2024 was 86.3826 million RMB, a 35.53% increase YoY [2]. - The company has been developing 0BB welding technology since mid-2020 and launched a mass production welding process in March 2024 [2]. Profit Forecast and Valuation - The profit forecasts for 2024-2026 have been slightly adjusted to 1.75 billion RMB, 2.626 billion RMB, and 2.866 billion RMB respectively [2]. - Corresponding EPS for these years are projected at 7.79 RMB, 11.69 RMB, and 12.76 RMB, with current PE ratios of 13, 9, and 8 times [2].

Financial Performance - The company's operating revenue for Q1 2024 reached ¥1,964,338,188.57, representing an increase of 89.06% compared to the same period last year[4] - Net profit attributable to shareholders was ¥332,826,703.19, marking a 50.44% increase year-over-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥338,642,289.34, up 61.25% from the previous year[4] - The total revenue for Q1 2024 was approximately ¥1,964.34 million, a significant increase from ¥1,039.02 million in Q1 2023, representing an increase of 89%[18] - Net profit for Q1 2024 reached ¥359.66 million, compared to ¥216.25 million in Q1 2023, marking a growth of 66%[19] - The earnings per share (EPS) for Q1 2024 was ¥1.48, slightly up from ¥1.43 in Q1 2023[20] - The company reported a significant increase in commission income, which rose to ¥1,529.23 million from ¥822.54 million, an increase of 86%[18] - The company reported a gross profit margin of approximately 37% for Q1 2024, up from 40% in Q1 2023, reflecting increased costs[27] Research and Development - R&D investment totaled ¥86,382,559.67, reflecting a 35.53% increase compared to the same period last year[4] - The R&D expenditure as a percentage of operating revenue was 4.40%, down 1.73 percentage points from the previous year[5] - Research and development expenses increased to ¥37,963,184.93 in Q1 2024, up from ¥32,399,925.17 in Q1 2023, highlighting the company's commitment to innovation[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥15,564,989,660.63, a slight decrease of 0.34% from the end of the previous year[5] - Shareholders' equity attributable to shareholders reached ¥4,016,209,541.61, representing a 9.61% increase compared to the end of the previous year[5] - The total liabilities amounted to ¥11,436.61 million, a decrease from ¥11,873.50 million in the previous year[17] - The company reported a total current liabilities of RMB 9.679 billion, compared to RMB 9.823 billion in the previous period[15] - The company’s non-current assets totaled RMB 2.020 billion, an increase from RMB 1.858 billion[15] - The total assets were reported at ¥15,564.99 million, slightly down from ¥15,617.49 million[17] - The company’s total assets as of March 31, 2024, were CNY 10,937,182,876.20, a slight decrease from CNY 11,031,532,661.13 at the end of 2023[24] - The total liabilities decreased to CNY 6,722,782,034.10 in Q1 2024 from CNY 7,148,436,500.68 in the previous year[25] Cash Flow - The cash flow from operating activities was negative at -¥204,158,511.97, indicating a significant cash outflow[4] - In Q1 2024, the company reported cash inflows from operating activities totaling CNY 1,460,880,265.62, compared to CNY 996,458,034.81 in Q1 2023, representing a year-over-year increase of approximately 46.5%[21] - The net cash flow from operating activities for Q1 2024 was negative CNY 204,158,511.97, a decline from a positive CNY 74,784,249.96 in Q1 2023[22] - The total cash and cash equivalents at the end of Q1 2024 stood at CNY 1,472,291,654.13, down from CNY 782,242,309.54 at the end of Q1 2023[23] - The company’s cash outflows from investing activities in Q1 2024 amounted to CNY 1,364,378,356.15, compared to CNY 2,069,288,521.82 in Q1 2023, indicating a reduction of approximately 34%[22] - The cash inflows from financing activities in Q1 2024 were CNY 186,713,546.00, significantly higher than CNY 70,172,382.00 in Q1 2023[22] - The company’s cash flow from investing activities showed a net outflow of CNY 5,681,567.61 in Q1 2024, contrasting with a net inflow of CNY 299,732,821.30 in Q1 2023[22] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[18] - The company aims to enhance its operational efficiency and reduce costs in the upcoming quarters to improve profitability[27]

证券代码：688516 证券简称：奥特维 公告编号：2024-047 转债代码：118042 转债简称：奥维转债 无锡奥特维科技股份有限公司 部分募投项目变更实施主体及实施地点的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整 性依法承担法律责任。 重要内容提示： 无锡奥特维科技股份有限公司（以下简称"公司"或"奥特维"） 拟以募集资金 5,000.00 万元向全资子公司普乐新能源（蚌埠）有限 公司（以下简称"普乐新能源"）提供借款，募集资金 3,000.00 万 向控股子公司无锡普乐新能源有限公司（以下简称"无锡普乐"）提 供借款，以实施向特定对象发行股票募集资金投资项目"高端智能装 备研发及产业化之半导体封装测试核心设备之 TOPCon 电池设备"。 上述借款将由公司根据项目实施进展情况分次汇给全资子公司普乐 新能源和控股子公司无锡普乐，由各子公司根据投资项目实际情况自 行管理、使用该笔借款，借款期限为自实际借款之日不超过 3 年，到 期前可提前偿还。 根据公司披露的《无锡奥特维科技股份有限公司 2021 年度向特 定对象发行 A 股 ...