申万宏源证券承销保荐有限责任公司 关于南京灿能电力自动化股份有限公司 2025 年度持续督导定期现场检查报告 （以下无正文） 现场检查手段： （1）查阅募集资金管理制度、募集资金监管协议、募集资金使用的有关决策文件； （2）现场调取募集资金专户银行交易明细，核对募集资金使用台账； （3）查阅募集资金使用的信息披露文件； （4）对相关人员进行访谈； （5）现场检查募投项目进展情况。 1.是否在募集资金到位后一个月内签订三方监管协议 √ 2.募集资金三方监管协议是否有效执行 √ 3.募集资金是否不存在第三方占用或违规进行委托理财等情形 √ 4.是否不存在未履行审议程序擅自变更募集资金用途、暂时补充 流动资金、置换预先投入、改变实施地点等情形 √ 5.使用闲置募集资金暂时补充流动资金、将募集资金投向变更为 永久性补充流动资金或者使用超募资金补充流动资金或者偿还 银行贷款的，公司是否未在承诺期间进行高风险投资 √ 6.募集资金使用与已披露情况是否一致，项目进度、投资效益是 否与招股说明书等相符 √ 注 1 7.募集资金项目实施过程中是否不存在重大风险 √ 注 1：募集资金使用与各年已披露情况一致，因公司存在募投项目延 ...

每经讯，2026年2月10日，北交所上市公司灿能电力（920299，收盘价：26.05元）登上龙虎榜，交易方式是连续竞价，披露原因 是当日换手率达到20.19%，成交数量896.53万股，成交金额2.3亿元。买一席位为国信证券股份有限公司深圳互联网分公司，买 入1417.8万元；卖一席位为国信证券股份有限公司深圳互联网分公司，卖出734.95万元。 （记者 曾健辉） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前核实。据此操作，风险自担。 每日经济新闻 | | 2026-02-10灿能电力 (920299) 龙虎榜 | | | | --- | --- | --- | --- | | 序号 | 交易营业部名称 | 买入金额(元) | 卖出金额(元) | | नेटा | 国信证券股份有限公司深圳互联网分公司 | 14177998.43 | 7349498.95 | | 买2 | 机构专用 | 8822588.91 | 6827288.21 | | ग्रें3 | 国信证券股份有限公司深圳红岭中路证券营业部 | 6139470.62 | 2631857.95 | | 买4 | 国金证券股份有限公司深圳 ...

证券代码：920299 证券简称：灿能电力 公告编号：2026-009 南京灿能电力自动化股份有限公司 2025 年年度业绩快报公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 特别提示：本公告所载 2025 年年度主要财务数据为初步核算数据，未经会 计师事务所审计，具体数据以公司 2025 年年度报告中披露的数据为准，提请投 资者注意投资风险。 一、2025 年年度主要财务数据和指标 二、经营业绩和财务状况情况说明 （一）报告期的经营情况、财务状况及影响经营业绩的主要因素 报告期内，公司实现营业收入 126,575,925.80 元，同比增长 8.95%，归属于 上市公司股东的净利润 25,134,128.45 元，同比增长 2.74%，归属于上市公司股东 的扣除非经常性损益的净利润 22,954,418.93 元，同比下降 0.89%。 报告期末，公司总资产为 342,137,434.08 元，较报告期初增长 6.26%，归属 于上市公司股东的所有者权益为 289,721,328.01 元，较报 ...

证券代码：920299 证券简称：灿能电力 公告编号：2026-008 南京灿能电力自动化股份有限公司 股票解除限售公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 本次股票解除限售数量总额为 334,281 股，占公司总股本 0.3710%，可交易 时间为 2026 年 2 月 10 日。 二、本次股票解除限售的明细情况及原因 单位：股 | | | | | | | 本次解 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 股东姓 | 是否为控股 | | 本次解 | 本次解除 | 除限售 | 尚未解除 | | | | 股东、实际控 | | | | 股数占 | | | 序号 | 名或名 | | 任职情况 | 限售原 | 限售登记 | | 限售的股 | | | | 制人或其一 | | | | 公司总 | | | | 称 | | | 因 | 股票数量 | | 票数量 | | | | 致行动人 | | | | 股本比 | | | | | ...

Core Viewpoint - The A-share market experienced a significant downturn, but the high-voltage power transmission sector saw a remarkable surge due to three powerful driving forces: substantial investment plans, accelerated domestic substitution, and expanding overseas markets [1][3][5]. Investment Plans - The State Grid's "14th Five-Year Plan" outlines a fixed asset investment of 4 trillion yuan in the power grid sector over the next five years, representing a 40% increase from the previous period. Over 60% of this investment will be directed towards ultra-high voltage (UHV) and inter-regional transmission projects, translating to at least 2.4 trillion yuan flowing into the UHV and related industries [3][5]. Domestic Substitution - There is a clear policy directive to increase the domestic production rate of core UHV equipment from 90% to 98% by 2026, with procurement ratios for domestic equipment rising from 30% to over 50%. This shift is expected to redirect significant orders and profits from foreign manufacturers to domestic companies, benefiting leading firms in high-voltage switches, converters, and transformers [5][10]. Overseas Market Expansion - China's UHV technology is leading globally, with increasing demand for power grid upgrades and energy transitions worldwide. The "Belt and Road" initiative is facilitating the export of UHV technology, exemplified by successful projects like the Belo Monte UHV project in Brazil [6][7]. Market Performance - On February 2, the UHV sector saw a collective surge in stock prices, with companies like Electric Power Research Institute and Anke Intelligent Electric experiencing gains of 19.95% and 16.56%, respectively. Other companies in the sector also reported significant increases, with many stocks hitting their daily limit [2][10]. Industry Dynamics - The global market for large power transformers is currently facing a structural shortage, with a supply gap of 30%. The lead time for orders has extended from an average of 18 months in 2021 to over four years now, creating a favorable environment for Chinese companies with full industrial chain capabilities [7][10]. Order Growth - From the second half of 2025, several UHV equipment companies have reported significant year-on-year increases in contract amounts, indicating a strong order backlog that will support revenue growth in 2026 and 2027 [17]. Key Players - Major companies in the UHV sector include China Western Electric, which holds a dominant position in the market with over 40% share in core equipment like converters and GIS, and TBEA, recognized as a global leader in UHV transformers [15][16]. Investment Sentiment - Institutional investors, particularly social security funds, have heavily invested in key players like Anke Intelligent Electric and China Western Electric, indicating strong confidence in the sector's growth potential [10][14]. Conclusion - The convergence of substantial investment, domestic substitution policies, and international market opportunities is positioning the UHV sector for robust growth, attracting significant market interest and investment [1][3][5].

证券代码：920299 证券简称：灿能电力 公告编号：2026-007 南京灿能电力自动化股份有限公司 关于使用闲置募集资金进行现金管理的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 授权委托理财情况 （一）购买理财产品的审议情况 南京灿能电力自动化股份有限公司（以下简称"公司"）于 2025 年 10 月 27 日召开了第三届董事会第九次会议审议通过了《关于使用闲置募集资金进行现金 管理的议案》，使用不超过人民币 9,000 万元（含本数）的闲置募集资金进行现 金管理，择机、分阶段购买安全性高、流动性好、有保本约定的理财产品，拟投 资的产品期限最长不超过 12 个月。在上述额度范围内，资金可循环滚动使用。 具体内容详见公司在北京证券交易所信息披露平台（www.bse.cn）披露的《使用 闲置募集资金进行现金管理的公告》（公告编号 2025-083）。 （二）前次披露情况 公司前次披露的关于使用闲置募集资金进行现金管理的进展情况详见公司 于 2026 年 1 月 12 日在北京证券交易 ...

Market Overview - The grid equipment sector experienced a decline of 1.32% on the previous trading day, with Can Energy leading the drop [1] - The Shanghai Composite Index closed at 4116.94, up 0.08%, while the Shenzhen Component Index closed at 14255.12, up 0.7% [1] Top Performers in Grid Equipment Sector - Guangdian Electric (601616) closed at 6.09, up 9.93%, with a trading volume of 3.79 million shares and a transaction value of 2.228 billion [1] - Songsheng Co. (301002) closed at 41.06, up 8.22%, with a trading volume of 110,500 shares and a transaction value of 438 million [1] - Hancable (002498) closed at 5.69, up 7.77%, with a trading volume of 4.8858 million shares and a transaction value of 2.797 billion [1] Underperformers in Grid Equipment Sector - Can Energy (920299) closed at 25.34, down 10.05%, with a trading volume of 107,900 shares and a transaction value of 280 million [2] - Yieneng Electric (920046) closed at 25.05, down 8.04%, with a trading volume of 174,400 shares [2] - Sanbian Technology (002112) closed at 21.06, down 8.03%, with a trading volume of 1.0891 million shares [2] Capital Flow Analysis - The grid equipment sector saw a net outflow of 5.885 billion from institutional investors, while retail investors had a net inflow of 6.005 billion [2] - The capital flow data indicates that retail investors are actively buying into the sector despite the overall decline [2] Individual Stock Capital Flow - Hancable (002498) had a net inflow of 65.4469 million from institutional investors, while retail investors had a net outflow of 65.6998 million [3] - Jiangsu Huachen (603097) saw a net inflow of 16.7398 million from institutional investors, with retail investors experiencing a net outflow of 10.3445 million [3]

Investment Rating - The report does not explicitly state an investment rating for the industry, but it suggests a focus on sectors with high growth potential and policy support, indicating a positive outlook for certain segments [3]. Core Insights - The market is driven by dual factors of policy direction and earnings certainty, particularly in sectors like ultra-high voltage and power grid equipment, which are benefiting from a significant investment plan by the State Grid [3]. - The commercial aerospace sector is showing signs of stability due to technological breakthroughs, which are attracting investment into specialized companies [3]. - Short-term focus should be on the implementation pace of State Grid investments and the progress of commercial aerospace technology, as these will directly impact the valuation elasticity of high-end manufacturing sectors [3]. - Long-term potential exists for the North Exchange as a platform for specialized and innovative enterprises, with a focus on balancing growth and valuation [3]. Summary by Sections Market Review - On January 19, the North Exchange A-share trading volume reached 240.3 billion yuan, a decrease of 64.0 billion yuan from the previous trading day, with the North Exchange 50 Index closing at 1548.63, up 0.02% [8][13]. - Among 288 companies listed, 118 saw an increase in stock price, while 163 experienced a decline [15]. Key News - The National Bureau of Statistics reported a GDP growth of 5% for 2025, with the total GDP reaching 1,401,879 billion yuan [2]. - Concerns are rising over potential supply shortages of high-speed SSD controller chips due to increased demand driven by AI applications [18]. Company Announcements - Tai Kai Ying announced the lifting of restrictions on 15,275,901 shares, representing 6.91% of its total share capital, effective January 22, 2026 [19]. - Hua Wei Design also announced the lifting of restrictions on 287,850 shares, representing 0.2792% of its total share capital, effective January 22, 2026 [23].

Core Viewpoint - Canaan Power (920299) experienced a slight increase of 0.25% in its stock price, with a high turnover rate of 41.51% and a total transaction volume of 529 million yuan, indicating significant trading activity on that day [2] Trading Activity - The stock was listed on the North Exchange due to its turnover rate reaching 41.51%, with institutional investors net selling 1.1316 million yuan [2] - The top five trading departments had a combined transaction volume of 86.38 million yuan, with a buying amount of 42.05 million yuan and a selling amount of 44.33 million yuan, resulting in a net sell of 2.2862 million yuan [2] - Among the trading departments, one institutional specialized seat was noted, with a buying amount of 4.2785 million yuan and a selling amount of 5.4101 million yuan, leading to a net sell of 1.1316 million yuan [2] Historical Performance - Over the past six months, the stock has appeared on the trading leaderboard 12 times, with an average price drop of 0.85% the day after being listed and an average decline of 4.00% over the following five days [2]

Core Viewpoint - The A-share market for smart grid stocks has shown significant strength, driven by the announcement of substantial fixed asset investments by the State Grid and Southern Power Grid during the 14th Five-Year Plan period, indicating a robust growth outlook for the industry [1]. Group 1: Investment Announcements - The State Grid announced a total fixed asset investment of 4 trillion yuan for the 14th Five-Year Plan period (2026-2030), representing a 40% increase compared to the 13th Five-Year Plan [1]. - The average annual investment scale is projected to reach 800 billion yuan [1]. - Southern Power Grid is expected to invest around 1 trillion yuan during the same period, with a total investment of approximately 5 trillion yuan for both major grids, significantly exceeding the 2.64 trillion yuan and 2.85 trillion yuan investments of the previous two plans [1]. Group 2: Stock Performance - Several smart grid stocks have reached their daily limit up, including China West Electric, New Link Electronics, Dingxin Communications, Hanlan Co., and others, with notable increases in stock prices [1]. - Specific stock performance includes: - China West Electric: +10.03% with a market cap of 81 billion yuan and a year-to-date increase of 73.63% [2]. - New Link Electronics: +10.01% with a market cap of 8.34 billion yuan and a year-to-date increase of 43.06% [2]. - Dingxin Communications: +10.00% with a market cap of 5.165 billion yuan and a year-to-date increase of 10.61% [2]. - Other notable performers include Hanlan Co. (+10.00%), Senyuan Electric (+10.00%), and Nanfang Power (+9.96%) [2].