2023/9
2023/11
2024/1
2024/3
2024/5
2024/7
CATL&GM!"S$%&'()*+,-ð/0123456
789:;<=>?@ABCD/EFGC2024H9I17J
KLMNOPQOR _`abSTUV
!"#$%&'()*+,$S0740522020001Email$zengbiao@zts.com.cn!"#$-ƒ'()*+,$S0740522040004Email$wupeng@zts.com.cn!"#$/01'()*+,$S0740522080002Email$zhubr@zts.com.cn!"#$23ƒ'()*+,$S0740522100005Email$zhaoyp02@zts.com.cnSTUV 456783579(:5;(<=)42,8539(>?5;(<=)36,802
EF-WXYZ[\ Ø"#$%&7()*300
10%
0%-10%-20%-30%-40% ]^CD GH Cffi (=) EPS PE PEG JK
2023A 2024E 2025E 2026E 2023A 2024E 2025E 2026E
ffi"# 77.29 4.45 5.41 6.66 8.11 17.36 14.29 11.61 9.53 0.7 $%
&'() 183.50 10.03 11.97 14.75 17.59 18.30 15.33 12.44 10.43 0.8 $%
*+Ø- 34.55 0.80 1.57 2.35 3.21 43.27 22.01 14.70 10.76 0.2 $%
T/+0 62.26 6.65 2.97 5.00 6.84 9.36 20.96 12.45 9.10 -0.4 $%
'123 90.03 4.16 5.56 6.95 8.19 21.62 16.19 12.95 10.99 0.5 $%
45Ø6 46.90 1.45 1.84 2.51 3.14 32.25 25.49 18.69 14.94 1.0 $%
LM$Cffi8NOP2024Q9R13STUffi !Ø&Ø#$%&'()*+,-./0123CATL456789:;!Ø<=>?@)ATDKBC;!7DEFGHIJKLMØ<-N,O=PQRSTUVWXYU Z[\]^=_`@Nabc10d100efg8hVij=klØW\«Ø<8
»…M =´¨ë؆ÀÃy•°Õ Œ[&mƒQŒ–—DS”‘=H2’÷ÜÿŸ⁄¤E‹÷Q3=›ŒJfivfl‡v· ‚„‰br=ÂÊúÁËÈvflÍÎ=‡v|ÏÌÓÔèÒÚÛÙı25d=ˆ˜’÷¯ªÜÿŸ⁄¤=˘8†å[Ø˙°†4›Ø¸°†˝˛Ÿ°†©ˇ!"°†#$¬3°†%÷Ø˙°†)&'%°Õ§aŒˆ˜=Q3Jfi’÷(å)*=‡vQ4+ëG-.–—/0123+Î\=`4y567è8Jfi9Z:=;7’÷ËÈWå<è=Ùó>67fiˆ˜25dø?=˘8†Gú¬3°†@A[¸°†BC©4°†%D¬3°†\GE°†F[©4°Õ
›G&9áHI;7J„9ãÉV=K¶LffiNOóP=KQÂÊRqSõçT1UVÂÊW7±XYZÕ=ˆ˜[\ø]^_=´¨`ab=cdeRqfgY˝hi8 ›GÂÊ&†jŸ˛°†jk˛°†lY•¶°†éøm°†n±¬3°Õ
oØ&H2¯\ffi/0=25d\GpÚCoqEro=s(fKy=t_(6[¸ uvwx=yz[·åoØ|]~O~Ä5.34GW=·‚·oÅ˙Wå§(ô·o`S|]ÇÈ”É=ÑÖdÜáÚCoqE9á13I=à2â6«JäãJKéàå4çéèê·åoØ7|]JäëíìîïñófîE9á14I=4ç66«JäòJKfô—öfi4çõëú1õëù·åoØ7·ûü醰ɢ|]£·§\c•Jäëí¶ffißIèM®©Eç™Yà2|]ro’÷ÛÙ”É=fi´Ó¨3úbÆÑú»Üá8%¶Ø=Üá\ÿÄJ„åÖd^_br=´¨`SëØ&11=cñ±3(ô‚·o–—ÍÎ8·ûÂÊ&†2>Øû°†éL©4°†¿éØû°Õ§V¥Ó¨ÂÊ&†Qµ`É°†L◊o[°†&∆¬3°†Ã≥o[°†·#oØ°†L[`É°Õ21RqxSWå‡v°·u”XVªº8T¢ÂÊ&†µo©4°†p±¬3°†^4á[°†æ=`[°Õ31ø%ó˝hi8¿c¡\IÂÊ=25d\ffi¬rjg_o&†µƒ¬3°†Iá¬3°Õ
o–bô,I&'¢«4ÿo§»•¶Qãå…§ ÀvçÕìŒ*8øœUy«
4Ho–§–æ>!"—|“”‘’÷8o–ÕE
!"#$
82CATL&GM9:;<=>?@.-6-
12A6BC45DEFGHI*JKLMN............................................-6-
2245FOPQRMN............................................................................-6-
32STUBVWXYFBCZ[Y..........................................................-7-
1\]^V_BCZ[Y.............................................................................-7-
2\`ab,ScBVWXY......................................................................-8-
3\STBVWXY..................................................................................-10-
4\V_deBCfYgZ[hi.............................................................-11-
42dejIkIYFlmno................................................................-12-
1\STdejIFkIEp....................................................................-12-
2\A6delmFQRMN....................................................................-13-
52STUqBrEpMN.......................................................................-14-
62A6sBCf5tffivMN................................................................-15-
w2xyzBC2[Rffiv|]~¬Ä2¬ÅiÉÑffi..................................-16-12xyf5tMN..................................................................................-16-
Ö2ÜBzáðâäãåçé~2.8GWâäã4èêjëIí:..................-18-12A6èÜãåìî..............................................................................-18-
22èïÜjIEpñN...........................................................................-20-
32èïÜkIEpñN...........................................................................-21-
42“óò”ôö|~ÜBõúùålmMN..............................................-22-
û2ëü†°...................................................................................................-27-
¢2Ü£§•...................................................................................................-28-
%&#$
¶ß1zA6BC45GHI*JKL®©™´¨Ü3\.-6-
¶ß2z]^V_BCZ[®GWh\................................................................-8-
¶ß3z]^V_BCØTL............................................................................-8-
¶ß4z`ab,Scoe±WXY®Â\......................................................-8-
¶ß5zSTW7oe±WXY®Â\............................................................-10-
¶ß6:oe±¥WµXY®7Â\...................................................................-11-
¶ß7z¥WXYBV@L...............................................................................-11-
¶ß8:STV_deBCfYFT¶®GWh\..............................................-12-
¶ß9zSTV_BCZ[Y®GWh\FT¶................................................-12-
¶ß10:STV_BC75Z[YØTL........................................................-12-
¶ß11zSTV_BCGZFT¶.................................................................-12-
¶ß12zSTdeóªjIºLFjInY..................................................-12-
¶ß13z2023æ1ó-2024æ8ókIâädeø¿gEPCkI¡ffi¬P®ƒ9z>/kWh\.....-12-
¶ß14zSTO«qBro»Y®7…\......
