Stockcode：
300450Stockabbreviation：
LEADStatementnumber：
2024-034
WuxiLeadIntelligentEquipmentCo.,Ltd.
2023AnnualReportSummary
SECTIONIIMPORTANTNOTICEThissummaryoftheannualreportisfromthefulltextoftheannualreport.Tofullyunderstandthebusinessperformance,financialconditionandfuturedevelopmentplanningoftheCompany,investorsshouldreadthefulltextoftheannualreportfordetails.AllmembersoftheboardofdirectorsattendedtheBoardmeetingtoreviewthisreport.BAKERTILLYInternationalAccountingFirm(SpecialGeneralPartnership)hasissuedanauditor’sreportwithanunqualifiedopiniontotheCompany.Changesinaccountingfirmsduringthisreportingperiod:Thecompany'saccountingfirmforthisyearisstillBAKERTILLYInternationalAccountingFirm(SpecialGeneralPartnership)Non-standardauditopinionreminder
□Applicable?NotapplicableThecompanywasnotprofitableatthetimeofitslistingandiscurrentlynotgeneratingprofits
□Applicable?NotapplicableProfitdistributionplanorplanforconvertingreservefundsintosharecapitalforthereportingperiodreviewedbytheboardofdirectors?Applicable□NotapplicableTheprofitdistributionplanapprovedbytheboardofdirectorsthistimeisasfollows:basedontotalsharecapitalof1,554,889,537,acashdividendof3.43yuan(includingtax)willbedistributedtoallshareholdersforevery10shares,0bonusshares(includingtax)willbegiven,and0additionalshareswillbeissuedtoallshareholdersforevery10sharesusingcapitalreserves.Theprofitdistributionplanforpreferredsharesapprovedbytheboardofdirectorsduringthisreportingperiod?Applicable□NotapplicableThereportiscompiledinbothChineseandEnglish.IncaseofanyambiguityintheunderstandingoftheChineseandEnglishversions,theChineseversionshallprevail.
SECTIONIICOMPANYPROFILE1CompanyProfile
Stockabbreviation
| Stockabbreviation | LEAD | Stockcode | 300450 |
| Stockexchange | ShenzhenStockExchange | ||
| Contactpersonandmeansofcontact | SecretarytotheBoard | Securitiesaffairsrepresentative | |
| Name | YaoYao | ZhuQi | |
| Officeaddress | No.18,XinzhouRoad,XinwuDistrict,Wuxi,JiangsuProvince | No.18,XinzhouRoad,XinwuDistrict,Wuxi,JiangsuProvince | |
| Fax | 0510-81163648 | 0510-81163648 | |
| Telephone | 0510-81163600 | 0510-81163600 | |
| Mailbox | yao.yao@leadintelligent.com | qi.zhu@leadintelligent.com | |
2MainBusinesses/ProductsoftheCompanyduringtheReportingPeriod
（1）BasicindustryconditionTheCompanyspecializesinR&D,manufacturingandsalesofhigh-endnon-standardintelligentequipmentandisaworld-leadingnewenergyequipmentserviceprovider.Itsbusinessescoverlithium-ionbatteryintelligentequipment,photovoltaicintelligentequipment,3Cintelligentequipment,intelligentlogistics,automobileintelligentproductionline,hydrogenenergyequipmentandlaserprecisionprocessingequipment,etc.TheCompanybelongstoIntelligentManufacturingindustry,including:
lithium-ionbatteryintelligentequipmentmanufacturing,photovoltaicintelligentequipmentmanufacturing,3Cequipmentmanufacturing,automobileproductionlinemanufacturing,hydrogenenergyequipmentmanufacturingandlaserprecisionprocessingequipmentmanufacturingindustry.Accordingtothe"GuidelinesforIndustryClassificationofListedCompanies"issuedbytheChinaSecuritiesRegulatoryCommission(CSRC)inOctober2012,thecompanyfallsunderthecategoryof"C35SpecialEquipmentManufacturingIndustry."
（2）Developmentstatus-quoandfuturedevelopmenttrendofdifferentbusinessesoftheCompany
1.Lithium-ionbatteryequipmentThelithium-ionbatteryincludesEV,energystorageanddigitaltypes,andlithium-ionbatteryequipmentindustryprovidesspecialequipmenttodownstreamlithium-ionbatterymanufacturers.EVbattery.Inthelong-termview,asaresponsetoglobalclimatechange,differentcountriesactivelypursueandpromotegreenandsustainabledevelopment:theautomotiveindustryisheadingtowardelectrification,andnewenergyautomotiveindustryisprosperingatafastspeed.AccordingtostatisticsfromsourcessuchasresearchinstituteEVTankandtheChinaAssociationofAutomotiveIndustry,thetotalglobalsalesofthenewenergyvehiclesreached14.653million,ayear-on-yearincreaseby35.4%.EVsalesinChinareached9.495million,accountingfor64.8%oftheglobalsales,withayear-on-yearincreaseof35.4%and
penetrationrateof31.6%(increasingby5.9percentcomparedwith2022).EVsalesofUSandEuropereached2.948millionand
1.468million,withrespectiveincreaserateof18.3%and48.0%.ThefastgrowthofEVsalesbringswithitthestarkincreaseofEVbatteryshipment.TheWhitePaperontheDevelopmentofChina'sNewEnergyVehiclePowerBatteryIndustry(2024)showsthatglobalEVbatteryshipmentsreached865.2GWhin2023,ayear-on-yearincreaseof26.5%.EVTankpredictsthatglobalpowerbatteryshipmentswillreach3368.8GWhby2030,withnearlythreetimesthegrowthpotentialcomparedto2023.
Intheshortterm,comparedtothestructuralovercapacityproblemcausedbythesignificantexpansionofdomesticEVbatteryfactories,overseasexpansionismorerational,andtheexpansionofoverseasEVbatteryfactorieswillbefurtheracceleratedinthefuture.TheEUisdeterminedtoreduceemissionsandestablishstrictcarbonemissionstandards.MajorEuropeancountriesreleasenewenergypoliciesoneafterantherandtheycontinuetopromotetheelectrificationprocess.Inthiscontext,EuropeanbatterymanufacturerslikeACCandNorthvoltareincreasing.Secondly,theIRAbilldrivesthelocalizationoftheUSelectricvehicleindustrychain,acceleratingtheconstructionofJapaneseandKoreanbatteryfactoriessuchasLGandSKintheUS.Moreover,vehiclemanufacturerssuchasVolkswagenandFordaregraduallyexpandingtheirproductionintheupstreambatterysector,orestablishingtheirownbatteryfactoriesorjointventurefactories.Ingeneral,there’sstilllargegrowthspaceforChineseequipmentmanufacturerswithglobalcompetitiveness.Energystoragebatteries.Inthecontextofcarbonneutrality,promotingtheenergyrevolutionandbuildinganewtypeofpowersystemdominatedbynewenergyhasbecomeaglobalconsensus.Newenergystorage(mainlyincludingelectrochemicalenergystorage,compressedairenergystorage,flywheelenergystorage,etc.),asanimportantmeanstoenhancethestabilityofthepowergrid,isthecoreofachievingdynamicbalancebetweenpowersupplyanddemand.Amongthem,electrochemicalenergystoragehastheadvantagesofflexibilityandhighenergyratio,andisincreasinglybecominganimportantwayofnewenergystorage,whichwilldrivetherapiddevelopmentoftheenergystoragebatteryindustry.In2023,drivenbythegrowthofwindandphotovoltaicinstalledcapacityandthedeclineinlithiumcarbonateprices,thedemandforenergystoragewillcontinuetoincrease.AccordingtoGGIIstatistics,theglobalshipmentofenergystoragebatteriesreached225GWhin2023,ayear-on-yearincreaseof50%.Amongthem,theshipmentvolumeofenergystoragebatteriesinChinareached206GWh,ayear-on-yearincreaseof58%,accountingfor91.6%oftheglobalshipmentvolumeintotal.
Digitalbattery.Withthecontinuousexpansionofthescaleofconsumerelectronicsproducts,theenrichmentofapplicationenvironments,andtheincreasingpenetrationamongaverageconsumers,theoverallmarketofChina'sconsumerlithium-ionbatteryindustryisdevelopingwell.Generallyspeaking,intraditionalconsumersectorssuchaslaptopsandsmartphones,themarketsizeoflithium-ionbatteriesisrelativelystable.Theemergingelectronicfieldssuchaswearabledevices,drones,Bluetoothspeakers,AR/VRdevices,AIPC,MR,etc.areshowingarapiddevelopmenttrend.Inaddition,withtheriseoftheAIwave,majormanufacturersareactivelyexploringandareexpectedtoleadanewroundofproductinnovationcycleinconsumerelectronics,therebystimulatingfurthergrowthinterminaldemandandbringingmoreopportunitiestothelithium-ionbatterymarket.
AccordingtoMordorIntelligence,theglobalconsumerlithium-ionbatterymarketisexpectedtoreach$27.33billionin2025,withacompoundgrowthrateof20.27%from2020to2025.
2.PhotovoltaicequipmentindustryThephotovoltaicequipmentindustryprovidesspecialequipmentfortheproductionofphotovoltaiccellsandmodules.Againstthebackdropofthe"dualcarbon"(carbonneutralityandcarbonpeaking)goal,theworldiscurrentlyinanimportantstageofenergystructuretransformation,andcountrieshavesignificantlyincreasedtheiremphasisonrenewableenergy.Accordingtothenet-zeroemissionsroadmapoftheInternationalEnergyAgency(IEA),itisexpectedthatthelevelofelectrificationwillgraduallyincreasewiththetransitiontogreenenergy,anditisexpectedthatelectricitywillaccountformorethan50%ofenergyconsumptionby2050.Amongthem,theproportionofsolarwindpowergenerationneedstoreachabout70%,andtheproportionofsolarenergyisexpectedtoexceed40%.InDecember2023,thePresidentoftheEuropeanUnionjointlylaunchedthe"GlobalRenewableEnergyandEnergyEfficiencyCommitment"initiativewith118countriesattheCOP28WorldClimateActionSummit,proposingtodoubletheglobalinstalledcapacityofrenewableenergygenerationtoatleast11000GWhby2030.Withtherapiddeclineinphotovoltaiccostsandthedevelopmentofsupportingfacilities,thephotovoltaicindustryisstillinahighgrowthstage,withstrongmarketpotentialinthelongterm.AccordingtoofficialdatafromtheInternationalRenewableEnergyAgency(IRENA),theglobalinstalledcapacityofnewphotovoltaicsystemsin2023was345.5GW,ayear-on-yearincreaseof32.2%.AccordingtodatafromtheNationalEnergyAdministration,theinstalledcapacityofdomesticphotovoltaicpowergenerationin2023was216.88GWh,ayear-on-yearincreaseof148.12%.Overall,withthepromotionoftheglobal"dualcarbon"process,thephotovoltaicindustryhasbroaddevelopmentspaceinthefuture.Thecontinuousgrowthofterminalinstalledcapacityinthephotovoltaicindustryhasdriventhecontinuousexpansionofproductionintheupstreamanddownstreamoftheindustrychain.Atthesametime,thecontinuousprogressofphotovoltaictechnologyinallaspectsalsodrivesthereplacementofexistingproductioncapacity.Thedemandforexpansionandsubstitutionconstitutethemarketdemandforphotovoltaicequipment.Drivenbytechnologicalprogressandcontinuousgrowthindownstreammarketdemand,thedemandforhigh-performanceequipment,representedbycorelinkssuchassiliconwaferequipment,batteryequipment,andcomponentequipment,continuestoincrease.
3.3Cequipmentindustry3Cequipmentindustryprovidesspecialequipmentforthemanufacturingandinspectionof3Cproducts.In2023,the3Cmarkethasfullyrecovered,andthedemandfor3Dmetrology,3Dassembly,andtestingequipmenthasbeenfullyinitiatedandinvested.Atthesametime,the3Dappearanceand3DcontentofconsumerelectronicproductshavespurredtheexplosivegrowthofnewMRproducts.Theincrementofsensorsandothercomponents,aswellasthegradualreplacementoftraditionalprocessesbyprecisiondispensingtechnology,havegivenrisetothedemandformulti-axis3Dprecisionfluid
equipmentduetotheevolutionofproductirregularstructures.ThetransferofmostoftheproductioncapacityfromtopcustomersintheconsumerelectronicssectortoSoutheastAsiahasledtoasignificantincreaseininvestmentinnon-standardequipment.
4.AutomotiveproductionlineautomationequipmentindustryAutomotiveproductionlineautomationequipmentindustryprovidesspecialequipmenttocellmoduleassemblyline,PACKlineandelectricdriveproductionline.Theautomotiveindustryhasarelativelyhighlevelofautomation,andimprovesassemblyqualityandshortensproductioncyclesbyadoptingmodularproduction.Inthepastfewyears,asthenewenergyvehicleindustrywasstillatgrowingstage,theautomationlevelintheproductionandmanufacturingofbatterymodules,PACK,andelectricdrivewasrelativelylow.Since2020,thenewenergyvehicleindustryathomeandabroadhasaccelerated.GloballeadingcarmakerssuchasVolkswagen,BMW,andDaimlerhaveacceleratedtheirtransformationtowardselectrification,andtheindustryscalehasrapidlyexpanded,whichhasputforwardhigherrequirementsfortheautomationleveloftheentireproductionline.Theautomotiveindustryisbuildinganewmodularproductionplatformbasedonkeylinkssuchasnewenergypowertrain(battery,electricdrive),andtheareasofbatterymoduleproductionlines,PACKproductionlines,electricdriveproductionlines,andequipmentupgradingofexistingproductionlinehavecalledformoreintelligentandhigherautomationproduction.
5.Hydrogenenergyequipmentindustry
ThehydrogenenergyequipmentindustryprovidesspecialequipmenttofuelcellsandPEMelectrolyzer.Hydrogenenergyisanimportantcomponentoftheenergysystemandwillbewidelyappliedinfieldssuchastransportation,industry,chemicalindustry,steel,andconstruction.Itwilldeeplypromotecarbonneutralityorlow-carbontransformationinindustries,buildaclean,safe,andefficientnewgenerationenergysystem,andhelpachievethenationalstrategyofcarbonpeakandcarbonneutrality.Inrecentyears,countriesincludingJapan,ROK,theUnitedStates,Europe,andtheMiddleEasthaveallreleasedhydrogenenergystrategicdevelopmentplans.Forexample,ROKexpectshydrogenenergytobecomeitslargestenergysourceby2050,accountingfor33%ofitsenergyconsumption;Germanyexpectshydrogenimportstoaccountfor50%-70%ofthetotalhydrogensupplyby2030.Chinaisalsoactivelydevelopinghydrogenenergy.In2022,theNationalDevelopmentandReformCommissionandtheNationalEnergyAdministrationjointlyissuedthe"MediumandLongTermPlanfortheDevelopmentofHydrogenEnergyIndustry(2021-2035)",whichformulatedalong-termdevelopmentstrategyforhydrogenenergy.In2023,localgovernmentshaveimplementedmultiplepoliciestopromotethehydrogenenergyindustryatthenationallevel.Forexample,inJune2023,HebeiProvinceissuedthe"HebeiProvinceHydrogenIndustrySafetyManagementMeasures",whichstipulatedthesafetymanagementoftheproduction,transportation,filling,anduseofhydrogenproductswithintheprovince.InSeptember2023,ShandongProvinceimplementedtheNoticeonCarryingoutPilotDemonstrationConstructionofEnergyGreenandLowCarbonTransformation,encouragingthedevelopmentofwindpower,photovoltaicpowergeneration,andnuclearhydrogenproduction.Inadditiontopolicysupport,progressinmaterialtechnologyandproductionprocesses,aswellas
thelocalizationofkeycomponents,continuetodrivedownthecostoffuelcellsystems.AccordingtoFrost&Sullivan'sstatistics,thepriceofhydrogenfuelcellsystemshasdecreasedfrom12300yuan/kWin2018to4800yuan/kWin2022,acompoundannualdecreaseof21.0%.Withpolicysupportandindustryjointefforts,thehydrogenenergyindustryhasshownapositivedevelopmenttrend,withtheinitialestablishmentoftheindustrialchainsystem,positiveprogressintechnologyresearchanddevelopment,andacceleratedmarketization.Withtheexpansionofindustryscale,thedemandforhigh-endhydrogenproductionandtestingequipmentisexpectedtograduallyrelease.
（
）CompanystatusintheindustryTheCompanycontinuestofocusonthedevelopmentofnewenergyandhigh-endequipment.Inthefieldofintelligentequipmentmanufacturingsuchaslithium-ionbatteries,energystoragebatteries,hydrogenbatteries,andphotovoltaiccellsfornewenergyvehicles,theCompanycontinuestofocusonresearchandinnovationtosolvethebottleneckequipmentproblemsintheindustry,activelypromotingefficiencyimprovement,costreduction,andhigh-qualityrapiddevelopmentoftheindustry.Nowadays,theCompanyhasbecometheonlyenterpriseintheworldthatcanprovidewholelinesolutionsfornewenergyintelligentequipment,withamarketsharerankingfirstintheworldformanyconsecutiveyears.
Inthefieldoflithium-ionintelligentequipment,theCompanyistheworld'slargesthigh-endlithium-ionbatteryequipmentandturn-keysolutionprovider,masteringcoretechnologiessuchasEV,energystorage,digitallithium-ionbatterycells,wholelineequipmentfrommixing,coating,calendering,notching,winding/stacking,assemblyandformation,aswellascompletesetsofintelligentmanufacturingturn-keysolutions.Thetechnologyandperformanceoflithium-ionintelligentequipmenthavereachedtheworld'sadvancedlevel.TheCompanyhasmaintainedgoodcooperativerelationshipswithseveralworld-classautomotiveandlithium-ionbatterycompaniesaroundtheworld,includingTesla,Volkswagen,BMW,MercedesBenz,CATL,BYD,SDI,LG,SKon,Panasonic,ATL,NORTHVOLT,ACC,EVE,CALB,GOTION,andSVOLT,andhasaccumulatedrichexperienceinthelithium-ionbatteryequipmentindustry.TheCompany'sperformanceinthefront,middle,andrearstagesoflithium-ionbatteryequipmenthasreachedtheworld-leadinglevel,anditsadvantageousproductcategorieshavebeenfurtherenrichedanditsmarketsharehasbeenfurtherexpanded.AccordingtoFrost&Sullivan'sstatistics,basedonthe2022ordervalue,theCompanyisthelargestprovideroflithium-ionbatteryintelligentequipmentinChinaandtheworld,withamarketshareof24.1%inChinaandaglobalmarketshareof17.5%.Inadditiontostandaloneequipment,theCompanyalsoprovidescomprehensiveintelligentmanufacturingsolutionstomultiplecustomersathomeandabroad,servingtheentirelifecycleoflithium-ionbatteryproduction,andhasexpandedoverseasmarketsandvehicleenterprisecustomers,injectingnewmomentumintothecompany'ssustaineddevelopment.
Inthefieldofphotovoltaicintelligentequipment,theCompanyiscommittedtotheresearchanddevelopment,massproductionofnewprocessesandequipmentforPVmoduleandPVcell,andhasmasteredthecoretechnologyofPVmoduleand
PVcellequipment.TheCompanycanprovidecustomerswithintelligentequipmentsuchasintegratedcellcuttingstringers,0BBstringers,XBCstringers,aswellaswholelinePVcellproductionequipmentincludingwetprocessmainequipment,screenprinting/sinteringmachine,inspectionandsortingmachine,andsupportingautomation,whichallenjoygoodreputationintheindustry.Atpresent,wehaveestablishedclosecooperationwithmanyleadingenterprisesinthephotovoltaicindustry,andin2023,wehavereceivedalargenumberofGWlevelordersincomponentequipmentandPVcellassemblylines.Thecompanycontinuestofocusonthephotovoltaicfieldandleadintechnologicalinnovation.Intermsofmoduleequipment,the0BBstringersreleasedbythecompanyistheindustry'sfirsthigh-efficiency0BBstringerformassproduction.TheindependentlydevelopedXBCcomponentsandPVcellequipmenthaveexceededindustrylimitsin2023andhavebeenhighlytrustedandpraisedbycustomers.IntermsofPVcelltechnology,theCompanyhasdevelopedtheindustry'sfirstGWlevelTOPCondigitalsolution,leadingtheindustrywithahighconversionefficiencyofover26.5%forthewholeline.Atthesametime,theCompanyisdeeplyinvolvedinPVcellturnkeysolutionsofTOPCon/XBC/HJT/perovskite,andreservingtechnologyforthenextgenerationdevelopment.Inaddition,theCompanycontinuestodeepenitscross-fieldbusinesslayoutinnewenergy,promotingandachievingplatform-basedandintegratedindustriallayoutfromPVtoPVandenergystorage,aswellasPV,energystorageandhydrogen,andcontributingtoglobalenergytransformation.Inthefieldof3Cintelligentequipment,theCompany'ssubsidiaryLeadTechistheselectserviceproviderforglobalintelligentmanufacturingsolutions.Itsproductscovervisualmetrology,AIdefectdetection,five-axishigh-speeddispensing,highflowsealing,imagingtesting,electricaltesting,reliabilitytesting,and3Dassembly,focusingonthethreemajorintelligentfieldsofglobalintelligentvehicles,consumerelectronics,anddigitalenergy.LeadTechalwaysusesintelligentanddigitalproductiontorespondtoindustrialchangeandthepersonalizedneedsofglobalcustomers.Byintegratingself-developed3D+AIvisualalgorithms,five-axisprecisionfluidtechnology,andintegratedtestingtechnology,weempowerindustryinnovationandbreakthroughs,continuouslyprovidingcustomerswithhighlycompetitiveproductsandservices,andbecomingstrategicpartnersformultipleTOPcustomersintheindustry.LeadTechhasreachedaworldleadinglevelin3D+AIvisiontechnologyandestablishedlong-termstrategicpartnershipswithleadingdomesticandforeignindustryenterprises.Inthefieldofautomationequipmentinautomotiveproductionline,theCompanyhasestablishedanexperiencedR&Dteam,relyingonthecompany'sstrongindependentR&Dandmanufacturingprocesscontrolcapabilities.Theautomotiveproductionlinebusinesshascoveredvariousfieldssuchasfull-categorymoduleintelligentproductionlines,PACKintelligentproductionlines,electricdriveintelligentproductionlines,EVbatterycharginganddischargingtestingsolutions,containerizedenergystoragesolutions,andhasestablishedstrategiccooperationwithwell-knowndomesticandforeigncustomerssuchasBMW,MercedesBenz,Audi,Volkswagen,GM,Toyota,FAW,BAIC,Xiaopeng,CATL,Gotion,SungrowPower,Hyperstrong,BaofengGroup,XCMGGroup,andGCLGroup.Wehavedeliveredtoourcustomersnumerousproductionlineswithhighautomationrates(withmoduleautomationratesexceeding95%,PACKautomationratesexceeding50%,andanaverageautomationrateofover85%for
theentireelectricdrivesolutionfromstatorandrotorassemblytotheproductionlineofelectricdriveproducts),highsafety,reliability,andstability.Withthecontinuousexpansionofvariousproductionlines,theCompanyhasfurtherimproveditsdigitalflexibleservicelevelonthebasisofreliableequipmentoperation.Inthefuture,theCompanywillactivelyparticipateincomprehensiveelectrificationandglobalcooperationunderthevisionofcarbonneutrality,andwillcontinuetoassisttheworldinachievinglow-carbontransformationgoalswithefficientintelligentproductionlinesandpracticalservicestrategies.Inthefieldofhydrogenintelligentequipment,theCompanyhasofficiallyenteredthefieldoffuelcellintelligentequipmentsince2018,establishedahydrogenequipmentbusinessunit,andformedastrongR&Dteam.In2021,thesubsidiaryLeadHydrogenwasofficiallyestablished,committedtobecomingtheworld'smostinfluentialhydrogenequipmententerprise,continuouslyleadingthetechnologicalupgradingofhydrogenequipment,promotingtheglobalindustrializationprocessofhydrogenfuelcells,andleadingthe"carbonneutrality"developmentofthenewenergyindustrywithintelligentmanufacturing.LeadHydrogenprovidescustomerswithPEMelectrolyzerproductionlineequipment,hydrogenfuelcellproductionlineequipment,andtestbenchsolutions,includingbatchingsystems,mixingandcoating,MEApackaging,bipolarplateproduction,stackassembly,systemassembly,testingplatforms,andotherrelatedhigh-endequipment.Atpresent,theCompanyhasreachedinternationalleadinglevelintermsoftechnicallevel,teamsize,andbusinessvolumeinthefieldofhigh-endhydrogenenergyequipment,andmultiplekeytechnologieshavewonnationalandprovincialscientificresearchprojectawards.LeadHydrogenalwaysadherestoinnovationasitsdrivingforce.In2023,LeadHydrogenhasdevelopedimportanthydrogenproductionequipmentsuchassinglecellpreparationequipment,electrolyticwaterPEMmakingequipment,ALKseparatormakingequipment,andelectrolyticwaterMEAmakingequipment.Amongthem,theMEAmakingequipmenthastakentheleadinsolvingtheuniformityoflarge-areacatalystdecalandthebubbleinpackagingduringthehydrogenproductionprocess,representingitscontinuoussupporttoindustrydevelopment.Intermsoffuelcells,LeadHydrogenhasformedlong-termstrategiccooperationrelationshipswithleadingdomesticandforeignenterprises.IntermsofPEMelectrolyzer,thecompanyhasestablishedcooperationwithmultiplewell-knownenterprises.ItobtainedthelargestsingleorderamountoverseasprojectinthehydrogenenergyfieldthatChineseenterpriseshavereceivedsofarfromaFortune500customerin2023.Afterfourmonths,wesuccessfullydeliveredittothecustomer.Thecompanywillcontinuetoincreaseinvestmentintechnologyresearchanddevelopmentinthefieldofhigh-endhydrogenequipment,maintainaleadingadvantage,furtherexpandthehydrogenproductionandtestingequipmentmarket,andsupportthenationaldual-carbonstrategy.
（
）Maincompetitorsintheindustry
1.ShenzhenYingheTechnologyCo.,Ltd.Establishedin2006,itmainlyprovidescustomerswithlithium-ionbatteryautomationequipmentandservices,andelectroniccigarettebusiness.
2.ZhejiangHangkeTechnologyIncorporatedCompanyEstablishedin2011,HangkeTechiscommittedtothedesign,R&D,productionandsalesofdownstreamprocesssystemofalltypesofchargeablebatteries,withlithium-ionbatteriesinparticular.IthascoretechnologiesandcapabilitiesintheR&Dandproductionofdownstreamequipmentlikecharging/dischargingequipmentandIRtestes,andisabletoprovidedownstreamprocessturn-keysolutionforlithium-ionbatteries.
3.GuangdongLyricRobotAutomationCo.,Ltd.Itwasestablishedin2014andmainlyengagesinR&D,productionandsalesofintelligentmanufacturingequipment,providinghigh-endequipmentanddigitalsmartfactorysolutionsinlithium-ionbattery,automotiveparts,ICT,etc.forrenownedenterprisesathomeandabroad.
4.ShenzhenS.CNewEnergyTechnologyCorporationEstablishedin2007,isanationalhigh-techequipmentmanufacturerwithcapabilitiesinR&D,manufacturing&salesofphotovoltaiccellmanufacturingequipment.
5、SuzhouEMISTechnologyCo.,Ltd.Establishedin2010,itisahigh-endequipmentmanufacturerintegratingmechanicaldesign,electricalmanufacturing,softwarealgorithmdevelopment,andprecisionmanufacturingandassembly.Themainbusinessfocusesondesign,R&D,manufacturingandsalesofintelligentmanufacturingequipment.
3.Majoraccountingdataandfinancialindicators
（1）MajoraccountingdataandfinancialindicatorsinthepastthreeyearsDoestheCompanyneedtoretrospectivelyadjustorrestateaccountingdataofpreviousyears??Yes□NoThereasonforretrospectiveadjustmentorrestatement:changesinaccountingpolicies
Unit:yuan
Attheendof2023
| Attheendof2023 | Attheendof2022 | Increaseordecreaseoverthatofthepreviousyear | Attheendof2021 | |||
| Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | ||
| Totalassets | 35,293,330,312.84 | 32,906,545,902.14 | 32,977,103,065.35 | 7.02% | 24,000,151,927.26 | 24,001,443,013.35 |
| NetassetsattributabletostockholdersoftheCompany | 11,848,337,372.87 | 11,123,369,629.13 | 11,125,213,190.76 | 6.50% | 9,468,866,047.00 | 9,470,157,133.09 |
| 2023 | 2022 | Increaseordecreaseoverthatofthepreviousyear | 2021 | |||
| Beforeadjustment | Afteradjustment | Afteradjustment | Beforeadjustment | Afteradjustment | ||
| Operatingincome | 16,628,361,009.42 | 13,932,352,081.34 | 13,932,352,081.34 | 19.35% | 10,036,591,737.08 | 10,036,591,737.08 |
| Netprofitattributableto | 1,774,565,501.49 | 2,317,580,885.59 | 2,318,133,360.87 | -23.45% | 1,584,673,046.04 | 1,585,964,132.39 |
stockholdersoftheCompany
| stockholdersoftheCompany | ||||||
| NetprofitattributabletostockholdersoftheCompanyafterdeductingnon-recurringprofitorloss | 1,724,509,317.18 | 2,255,840,396.02 | 2,256,392,871.30 | -23.57% | 1,532,389,119.95 | 1,533,680,206.30 |
| Netcashflowfromtheoperatingactivities | -862,790,560.80 | 1,691,030,346.50 | 1,691,030,346.50 | -151.02% | 1,343,709,630.49 | 1,343,709,630.49 |
| Basicearningspershare(RMB/share) | 1.1311 | 1.4815 | 1.4819 | -23.67% | 1.2827 | 1.2838 |
| Dilutedearningspershare(RMB/share) | 1.1323 | 1.4810 | 1.4813 | -23.56% | 1.2816 | 1.2827 |
| ROE | 15.31% | 22.55% | 22.55% | -7.24% | 0.21% | 21.04% |
Reasonsforchangesinaccountingpoliciesandcorrectionofaccountingerrors
OnNovember30,2022,theMinistryofFinanceissuedInterpretationNo.16oftheAccountingStandardsforEnterprises(Finance-Accounting[2022]No.31)(hereinafterreferredtoas"InterpretationNo.16"),whichstatesthat"theaccountingtreatmentfordeferredincometaxrelatedtoassetsandliabilitiesarisingfromindividualtransactionsisnotapplicabletoinitialrecognitionexemption"shallbeimplementedfromJanuary1,2023.（
）Majoraccountingdatabyquarters
Unit:yuan
| Q1 | Q2 | Q3 | Q4 | |
| Operatingincome | 3,273,527,121.48 | 3,812,035,920.03 | 6,100,513,784.55 | 3,442,284,183.36 |
| NetprofitattributabletostockholdersoftheCompany | 563,328,825.89 | 637,035,938.39 | 1,123,242,961.34 | -549,042,224.13 |
| NetprofitattributabletostockholdersoftheCompanyafterdeductingnon-recurringprofitorloss | 551,047,376.95 | 618,257,104.63 | 1,113,698,760.11 | -558,493,924.51 |
| Netcashflowfromtheoperatingactivities | -1,708,294,949.71 | 165,369,692.70 | 77,936,408.17 | 602,198,288.10 |
IsthereasignificantdifferencebetweentheabovefinancialindicatorsortheirtotalamountandthefinancialindicatorsrelatedtothedisclosedquarterlyandsemiannualreportsoftheCompany?
□Yes?No
4.Sharecapitalandinformationonshareholders
（
）Totalnumberofholdersofordinaryshares,totalnumberofholdersofpreferredshareswithrestoredvotingrights,andshareholdingsofthetop10shareholders
Unit：
share
| Totalnumberofholdersofordinarysharesattheendofreportingperiod | 98,644 | Totalnumberofholdersofordinarysharesonemonthpriortotheannualreportdisclosuredate | 114,319 | Totalnumberofholdersofpreferredshareswithrestoredvotingrightsattheendofthereportingperiod | 0 | Totalnumberofholdersofpreferredshareswithrestoredvotingrightsonemonthpriortotheannualreportdisclosuredate | 0 | Totalnumberofholderswithsharesofspecialvotingrights(ifany) | 0 |
Shareholdingsofthetop10shareholders(excludingshareslentthroughstockpledgedrepotransactions)
| Shareholdingsofthetop10shareholders(excludingshareslentthroughstockpledgedrepotransactions) | ||||||
| Nameofshareholders | Natureofshareholders | Shareholderproportion | Numberofsharesheld | Numberofrestrictedsharesheld | Pledged,marked,orfrozen | |
| Sharestatus | Number | |||||
| LhasaXindaoVentureCapitalCo.,Ltd | Domesticnon-state-ownedlegalperson | 21.46% | 336,039,506.00 | 0.00 | Notapplicable | 0.00 |
| HongKongSecuritiesClearingCompanyLtd.(HKSCC) | Overseaslegalperson | 13.25% | 207,514,476.00 | 0.00 | Notapplicable | 0.00 |
| ContemporaryAmperexTechnologyCo.,Ltd. | Domesticnon-state-ownedlegalperson | 7.14% | 111,856,823.00 | 111,856,823.00 | Notapplicable | 0.00 |
| ShanghaiZhuoAoEnterpriseManagement(LimitedPartnership) | Domesticnon-state-ownedlegalperson | 5.88% | 92,041,983.00 | 0.00 | Notapplicable | 0.00 |
| WuxiYuxiVentureCapital(LimitedPartnership) | Domesticnon-state-ownedlegalperson | 4.43% | 69,414,157.00 | 0.00 | Notapplicable | 0.00 |
| IndustrialandCommercialBankofChina(ICBC)--EFundGrowthEnterpriseBoardTradingOpenIndexSecuritiesInvestmentFund | Others | 0.94% | 14,672,816.00 | 0.00 | Notapplicable | 0.00 |
| ChinaConstructionBank--HuaAnChiNext50TradingOpenIndexSecuritiesInvestmentFund | Others | 0.55% | 8,638,804.00 | 0.00 | Notapplicable | 0.00 |
| ICBC－Huatai-PinebridgeCSI300ExchangeTradedOpen-EndIndexSecuritiesInvestmentFund | Others | 0.52% | 8,172,150.00 | 0.00 | Notapplicable | 0.00 |
| ICBC－HuitianfuChinaSecuritiesNewEnergyVehicleIndustryIndexSponsoredSecuritiesInvestmentFund(LOF) | Others | 0.48% | 7,508,016.00 | 0.00 | Notapplicable | 0.00 |
| BankofChina－HuaxiaChinaSecuritiesNewEnergyVehicleTradingOpenIndexSecuritiesInvestmentFund | Others | 0.46% | 7,275,819.00 | 0.00 | Notapplicable | 0.00 |
| Explanationofassociationsoractionsinconcertamongtheaboveshareholders | LhasaXindaoVentureCapitalCo.,Ltd,ShanghaiZhuoAoEnterpriseManagement(LimitedPartnership)andWuxiYuxiVentureCapital(LimitedPartnership)(whosenameisnowchangedto:WuxiYuxiTechnologyCompany)arecontrolledbyWangYanqing,theactualcontrolleroftheCompany. | |||||
Thesituationofthetoptenshareholdersparticipatinginstockpledgedrepotransactionsbylendingtheirshares?Applicable□Notapplicable
Unit：
share
| Toptenshareholdersparticipatinginstockpledgedrepotransactionsbylendingtheirshares | ||||||||
| Fullnameofshareholders | Initialordinaryaccountandcreditaccountshareholding | Initiallendingsharesandyetnotrepaid | Ordinaryaccountandcreditaccountshareholdingattheendoftheperiod | Lendingsharesandyetnotrepaidattheendoftheperiod | ||||
| Numberofshares | Percentage | Numberofshares | Percentage | Numberofshares | Percentage | Numberofshares | Percentage | |
| ICBC--EFundGrowthEnterpriseBoardTradingOpenIndexSecuritiesInvestmentFund | 4,920,268 | 0.31% | 1,731,400 | 0.11% | 14,672,816 | 0.94% | 74,700 | 0.01% |
| ChinaConstructionBank--HuaAnChiNext50TradingOpenIndexSecuritiesInvestmentFund | 3,973,907 | 0.25% | 706,100 | 0.05% | 8,638,804 | 0.55% | 293,200 | 0.02% |
| ICBC－Huatai-PinebridgeCSI300ExchangeTradedOpen-EndIndexSecuritiesInvestmentFund | 3,705,250 | 0.24% | 776,000 | 0.05% | 8,172,150 | 0.52% | 19,500 | 0.00% |
| ICBC－HuitianfuChinaSecuritiesNewEnergyVehicleIndustryIndexSponsoredSecuritiesInvestmentFund(LOF) | 7,120,916 | 0.45% | 829,600 | 0.05% | 7,508,016 | 0.48% | 339,900 | 0.02% |
| BankofChina－HuaxiaChinaSecuritiesNewEnergyVehicleTradingOpenIndexSecurities | 4,598,419 | 0.29% | 1,319,400 | 0.08% | 7,275,819 | 0.46% | 94,400 | 0.01% |
InvestmentFund
Thereischangeintop10shareholderscomparedtothelastreportingperiod?Applicable□Notapplicable
Unit:share
InvestmentFund
Changeoftop10shareholderscomparedtothelastreportingperiod
| Changeoftop10shareholderscomparedtothelastreportingperiod | |||||
| Fullnameofshareholders | Entry/Exitofthisreportingperiod | Numberofshareslentthroughre-financingandyetnotrepaidattheendoftheperiod | Thenumberofsharesheldintheordinaryaccountandcreditaccountofshareholdersattheendoftheperiod,aswellastheshareslentthroughrefinancing,thathavenotyetbeenreturned | ||
| Numberofshares | Percentage | Numberofshares | Percentage | ||
| ICBC－EFundActiveGrowthSecuritiesInvestmentFund | Exit | 0 | 0.00% | 0 | 0.00% |
| ChinaMerchantsBank－RuiyuanGrowthValueHybridSecuritiesInvestmentFund | Exit | 0 | 0.00% | 0 | 0.00% |
| NationalSocialSecurityFund110Portfolio | Exit | 0 | 0.00% | 5,459,337 | 0.35% |
| BARCLAYSBANKPLC | Exit | 0 | 0.00% | 2,234,699 | 0.14% |
| ChinaConstructionBank－EFundNationalDefenseandMilitaryIndustryHybridSecuritiesInvestmentFund | Exit | 0 | 0.00% | 0 | 0.00% |
| ICBC－EFundChiNextTradingOpenIndexSecuritiesInvestmentFund | Entry | 74,700 | 0.01% | 14,747,516 | 0.94% |
| ChinaConstructionBank--HuaAnChiNext50TradingOpenIndexSecuritiesInvestmentFund | Entry | 293,200 | 0.02% | 8,932,004 | 0.57% |
| ICBC－Huatai-PinebridgeCSI300ExchangeTradedOpen-EndIndexSecuritiesInvestmentFund | Entry | 19,500 | 0.00% | 8,191,650 | 0.52% |
| ICBC－HuitianfuChinaSecuritiesNewEnergyVehicleIndustryIndexSponsoredSecuritiesInvestmentFund(LOF) | Entry | 339,900 | 0.02% | 7,847,916 | 0.50% |
| BankofChina－HuaxiaChinaSecuritiesNewEnergyVehicleTradingOpenIndexSecuritiesInvestmentFund | Entry | 94,400 | 0.01% | 7,370,219 | 0.47% |
Doesthecompanyhavearrangementsfordifferencesinvotingrights?
□Applicable?Notapplicable
（2）TotalnumberofholdersofpreferencesharesandtoptenshareholdersoftheCompanyThere’snoshareholdingbyholdersofpreferencesharesatthereportingperiod.
（3）DiagramoftheequityandcontrollingrelationshipbetweentheCompanyandthedefactocontroller
5.Corporatebond
□Applicable?Notapplicable
SECTIONIIIIMPORTANTEVENTS
1.OnMay5,2023,theCompanyheldthe25thmeetingofthe4thBoardofDirectorsandapprovedtheProposalonAppointingtheChiefFinancialOfficeroftheCompany.ItwasdecidedtoappointMs.GuoCaixiaasthechieffinancialofficeroftheCompany,withatermstartingfromthedateofapprovalbythecurrentBoardofDirectorsandendingontheendofthisterm.PleaserefertotherelevantannouncementdisclosedbytheCompanyonMay6,2023onCNINFnetwork.
2.OnJune12,2023,theCompanyheldthe26thmeetingofthe4thBoardofDirectorsandthe25thmeetingofthe4thBoardofSupervisorstoreviewandapprovethe"ProposalonRepurchaseofCompanyShares".ItwasagreedthattheCompanywoulduseitsownfundstorepurchasetheissuedRMBordinaryshares(A-shares)oftheCompanythroughcentralizedbiddingtrading,forthepurposeofimplementingequityincentiveplansand/oremployeestockownershipplans.ThepriceforrepurchasingsharesshallnotexceedRMB53pershare,andthetotalamountofrepurchasedfundsshallnotbelessthanRMB200millionandnotexceedRMB300million.Thespecifictotalamountofrepurchasefundsshallbebasedontheactualtotalamountoffundsusedwhentherepurchaseperiodexpiresortherepurchaseimplementationiscompleted.Theimplementationperiodforrepurchasingsharesshallnotexceed12monthsfromthedateofapprovaloftherepurchaseplanbytheCompany'sboardofdirectors.PleaserefertotherelevantannouncementdisclosedbythecompanyonJune13,2023onCNINFnetwork.
3.The2022equitydistributionplanoftheCompanywasreviewedandapprovedbythe24thmeetingofthe4thBoardofDirectorsheldonApril25,2023,andthe2022AnnualShareholders'MeetingheldonMay17,2023.OnJune27,2023,theCompanycompletedthedistributionofequityfortheyear2022.PleaserefertotherelevantannouncementdisclosedbytheCompanyonJune17,2023onCNINFnetwork.
4.OnJune28,2023,Mr.WangYanqing--theactualcontroller,chairman,andgeneralmanageroftheCompany,basedonhisconfidenceinthefuturedevelopmentoftheCompanyandhisrecognitionofthelong-terminvestmentvalue,combinedwithhisreasonableandindependentjudgmentoftheCompany'sstockvalue--increasedhisholdingsof2,910,180sharesofthe
CompanythroughacentralizedbiddingmethodviatheShenzhenStockExchangetradingsystemwithhisowncapital,accountingfor0.19%ofthetotalsharecapitaloftheCompany.PleaserefertotherelevantannouncementdisclosedbythecompanyonJune28,2023onCNINFnetwork.
5.OnSeptember28,2023,theCompanyheldthe31stmeetingofthe4thBoardofDirectorsandthe29thmeetingofthe4thBoardofSupervisors,andreviewedandapprovedproposalssuchasthe"2023RestrictedStockIncentivePlan(Draft)anditsAbstract".OnOctober16,2023,thesecondinterimgeneralmeetingofshareholdersalsoapprovedthat875000sharesweregrantedto52incentiverecipientsatagrantpriceofRMB13.97yuanpershare.PleaserefertotherelevantannouncementdisclosedbytheCompanyonOctober20,2023onCNINFnetwork.
6.Mr.WangYanqing,theactualcontroller,chairman,andgeneralmanagerofthecompany,plannedtoincreasehisholdingsoftheCompany'sshareswithin6monthsfromOctober30,2023,withaproposedincreaseamountofnolessthanRMB150millionandnomorethanRMB300million.Therequiredsourcesoffundsfortheincreaseareselfownedorselfraisedfunds.PleaserefertotherelevantannouncementdisclosedbythecompanyonCNINFnetworkonOctober30,2023.
7.OnDecember13,2023,the34thmeetingofthefourthboardofdirectorsoftheCompanywasheld,andtheproposaltoincreasethetotalamountofrepurchasedshareswasreviewedandapproved.BasedonconfidenceintheCompany'sfuturedevelopmentprospectsandrecognitionoftheCompany'svalue,safeguardingtheinterestsofshareholdersandenhancinginvestorconfidence,theboardofdirectorsagreedtoincreasetheamountofrepurchasedsharesandadjustthetotalamountoffundsproposedforrepurchasingsharesfrom"nolessthanRMB200millionandnomorethanRMB300million"to"nolessthanRMB35millionandnomorethanRMB500million".PleaserefertotherelevantannouncementdisclosedbythecompanyonDecember14,2023onCNINFnetwork.