光伏組件廠商N海泰登陸北交所，股價漲超28%
今日，唐山海泰新能科技股份有限公司（簡稱“海泰新能”，股票代碼“835985”）登陸北交所，發行價格為9.05元/股，截至發稿，上漲28.84%，報11.66元/股，最新市值為35.14億元。
海泰新能成立於2006年，是一家以晶硅太陽能光伏組件的研發、生產、加工和銷售為核心，並開展太陽能光伏電站的開發、建設、運營等業務的新能源解決方案供應商。
IPO前，海泰新能控股股東、實際控制人為王永、劉鳳玲夫婦，合計持有公司53.7198%的股份。
公司股權結構，招股書
2019年至2021年，公司實現營收分別為19.18億元、26.5億元、45.28億元，同期歸母淨利潤為5969萬元、6205萬元、1.47億元，綜合毛利率由2019年的14.29%下滑至2021年的7.91%，略低於同行業可比公司平均值。
公司主要財務數據，招股書
具體來看，光伏組件及組件代工業務銷售收入佔比均在97%以上，其中，自有品牌組件是公司的主要收入來源，2021年佔比營收超過80%。
報吿期內，公司來自前五大客户的銷售收入佔比分別為35.69%、34.01%、42.05%，主要客户包括深圳創維光伏科技有限公司、國家電網有限公司、國家電力投資集團有限公司等。
從採購情況來看，公司前五大供應商集中度較高，近兩年其採購金額佔比總採購額超60%。海泰新能自產組件的主要原材料包括電池片、玻璃、金屬邊框、背板、EVA、接線盒、焊帶等，報吿期內自產組件原材料佔主營業務成本的比例達到90%以上，原材料價格的波動將直接影響公司的生產成本和盈利水平。
報吿期內，主要原材料電池片、玻璃、EVA、背板及接線盒的價格都出現不同程度的波動，尤其是2021年硅料價格持續上漲，進而傳導至硅片、電池片等其他主要原材料和輔料，組件生產成本均較2020年呈顯著上漲趨勢，使得公司毛利率下降。
值得一提的是，報吿期內，公司研發費用率均不足1%，低於同行業可比公司平均水平。
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