假设于本公告日期至完成日期期间已发行股份数目并无变动，配售事项下的6800万股配售股份相当于本 公告日期现有已发行H股数目的约20.00%及现有已发行股份数目的约2.01%，以及经配发及发行配售股 份扩大后已发行H股数目的约16.67%及已发行股份数目的约1.97%。 假设所有配售股份均获悉数配售且待完成后，预计配售事项所得款项总额及所得款项净额(经扣除配售 事项佣金及配售事项的其他相关成本及开支后)将分别约为10.83亿港元及10.75亿港元。据此，每股股份 净发售价将约为15.81港元。 东方电气（600875）(01072)发布公告，于2025年9月18日(交易时段前)，公司与独家配售代理订立配售 协议，据此，独家配售代理已有条件同意作为公司独家配售代理按尽力基准促使不少于六名承配人(他 们及他们的最终实益拥有人将为独立第三方)购买6800万股配售股份，配售价为每股配售股份15.92港 元，相当于较2025年9月17日(即最后交易日)于香港联交所所报每股H股收市价17.30港元折让约7.98%。 ...

智通财经APP讯，东方电气(01072)发布公告，于2025年9月18日(交易时段前)，公司与独家配售代理订 立配售协议，据此，独家配售代理已有条件同意作为公司独家配售代理按尽力基准促使不少于六名承配 人(他们及他们的最终实益拥有人将为独立第三方)购买6800万股配售股份，配售价为每股配售股份15.92 港元，相当于较2025年9月17日(即最后交易日)于香港联交所所报每股H股收市价17.30港元折让约 7.98%。 假设于本公告日期至完成日期期间已发行股份数目并无变动，配售事项下的6800万股配售股份相当于本 公告日期现有已发行H股数目的约20.00%及现有已发行股份数目的约2.01%，以及经配发及发行配售股 份扩大后已发行H股数目的约16.67%及已发行股份数目的约1.97%。 假设所有配售股份均获悉数配售且待完成后，预计配售事项所得款项总额及所得款项净额(经扣除配售 事项佣金及配售事项的其他相关成本及开支后)将分别约为10.83亿港元及10.75亿港元。据此，每股股份 净发售价将约为15.81港元。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 本公告或其任何副本概不得直接或間接於美國境內或有關刊發或派發 屬 違 法 的 任 何 其 他 司 法 權 區 刊 發 或 派 發。本 公 告 僅 作 參 考 用 途，並 不 構 成 收 購、購 買 或 認 購 本 公 司 任 何 證 券 之 邀 請 或 要 約。 本公告並不構成或組成於美國境內或有關發售屬違法的任何其他司法 權 區 出 售 或 購 買 或 認 購 證 券 的 任 何 要 約 或 招 攬 的 一 部 分。本 公 告 所 述 本公司股份並無亦不會根據1933年 美 國 證 券 法（經 修 訂）（「美國證券法」） 登 記，且 不 得 於 美 國 境 內 提 呈 發 售 或 出 售，惟 根 據 美 國 證 券 法 登 記 規 定 進 行 登 記 者 或 獲 豁 免 遵 守 該 等 登 記 規 定 者 除 外。本 公 司 無 意 ...

联系邮箱：jyzjz@samr.gov.cn 附件下载： 公示日期：2025年9月17日至2025年9月26日 ...

Investment Rating - The report does not explicitly provide an investment rating for the wind power industry Core Insights - The wind power industry is experiencing rapid growth, with Chinese companies dominating the global market, holding six out of the top ten positions among wind turbine manufacturers [3][4] - In 2024, global wind turbine manufacturers installed a record 127 GW of capacity, with Chinese companies leading the way [3][4] - The report highlights the importance of a strong domestic market, integrated supply chains, technological innovation, and supportive policies as key factors for the success of Chinese wind turbine manufacturers [8][12] Summary by Sections Global Wind Power Market - In 2024, the top four wind turbine manufacturers globally are all Chinese companies, with Goldwind leading at 20.5 GW and a market share of 16.2% [4][5] - Chinese manufacturers installed 5.458 GW of wind turbines overseas in 2024, with 94% of their installations still concentrated in the domestic market [4][11] Advantages of Chinese Wind Power Manufacturers - The strong domestic market provides scale advantages, with China accounting for approximately 70% of global new wind installations in 2024 [8][12] - China has become the largest manufacturing base for wind power equipment, with significant shares in blade, gearbox, and generator production [8][12] - Technological advancements include breakthroughs in floating wind technology and larger turbine capacities, with notable projects achieving capacities of up to 26 MW [9][12] Maintenance and Operations Market - The wind power operation and maintenance (O&M) market in China is projected to grow significantly, with services expected to reach 663 billion yuan by 2025 [26][30] - The shift towards predictive maintenance is highlighted as a key trend, utilizing IoT and AI technologies to enhance operational efficiency and reduce costs [22][27] - The competitive landscape includes wind power developers, turbine manufacturers, and third-party service providers, all vying for market share in the O&M sector [26][27]

Core Viewpoint - The China Eastern Electric Group held its ninth Science and Technology Innovation Conference, focusing on the theme of "Open Integration, Moving Towards 'New'" and announced ten latest technological achievements in advanced power equipment [1][3]. Group 1: Conference Overview - The conference was attended by seven academicians from the Chinese Academy of Engineering, leaders from various government departments, and over 400 representatives from state-owned enterprises, research institutions, and universities [3]. - The meeting summarized the technological innovation efforts of the China Eastern Electric Group and the work of the Central Enterprise Advanced Power Equipment Innovation Consortium [3]. Group 2: Technological Achievements - Ten new technological achievements were announced, including a new generation of coal power overall technical solutions, fully autonomous series heavy gas turbines, and a 20 MW domestically produced natural gas pipeline compressor unit [3][4]. - Other notable innovations include a modular "hydrogen-oxygen thermal" multi-supply system and an intelligent drilling machine for offshore artificial islands [3]. Group 3: Strategic Initiatives - The China Eastern Electric Group aims to enhance original innovation capabilities and contribute to national energy security and the construction of a strong technological nation [4]. - A strategic cooperation agreement was signed with Lanzhou University, and a new batch of innovation consortium tasks was established [4][5]. Group 4: Innovation Consortium Impact - The Central Enterprise Advanced Power Equipment Innovation Consortium, established in 2024, includes over 60 enterprises, universities, and research institutions, focusing on nine major directions such as wind power and nuclear energy [5]. - The consortium has made significant progress in overcoming key technologies affecting national energy security and has been recognized for its contributions to high-quality industry development [5].

Core Insights - The 2025 World Clean Energy Equipment Conference (WCCEE 2025) will take place from September 16 to 18 in Deyang, focusing on global energy transition and featuring over 40 foreign guests from 12 countries [3] - The conference will cover the entire clean energy equipment industry chain, including hydro, wind, solar, nuclear, hydrogen, and new energy storage [4] - Deyang has established itself as a leading clean energy equipment industrial cluster in China, with over 1,500 enterprises and significant contributions to national energy production [8][9] Group 1: Conference Details - The conference will include a main opening ceremony, a high-end equipment exhibition, and 19 specialized meetings covering various topics in clean energy [4] - Key standards and technological breakthroughs will be announced, including the "National Clean Energy Equipment Top Ten Standards" and significant innovations in nuclear and gas turbine technologies [4] - The exhibition will showcase ten major equipment industry chain sectors, providing a comprehensive view of the clean energy equipment landscape [5] Group 2: Deyang's Industrial Strength - Deyang is home to 70% of gas turbine units, 60% of nuclear power units, and 50% of large power station castings in China, highlighting its industrial capabilities [8] - The city has produced significant equipment, including the world's largest 26 MW offshore wind turbine and the "Hualong One" nuclear power unit, contributing to a cumulative power generation capacity of over 700 million kW [8] - Deyang's international presence includes over 200 service institutions abroad, with products reaching 64 countries along the Belt and Road Initiative [9] Group 3: Future Developments - Deyang aims to become a world-class clean energy equipment manufacturing base, leveraging its strong industrial foundation and strategic initiatives [11] - The city is focusing on hydrogen energy as a key area for future growth, with significant advancements in hydrogen production technology and cost reduction [12] - Five major initiatives will be implemented to enhance the clean energy equipment industry, including fostering leading enterprises, building development platforms, and promoting technological innovation [12]

Core Viewpoint - The establishment of the world's first plateau hydropower unit research and development base by Dongfang Electric in Linzhi, Tibet, is significant for advancing the country's southwestern hydropower base construction and promoting the independent research and engineering application of high-head, large-capacity hydraulic impact hydropower units [1] Group 1 - Dongfang Electric's new research and development base aims to enhance service for national hydropower initiatives [1] - The base is expected to play a crucial role in the development of large-capacity hydropower units [1] - The facility's opening aligns with the strategic push for hydropower development in southwestern China [1]

Core Viewpoint - The establishment of the first plateau hydropower unit research and development base in Linzhi, Tibet, by Dongfang Electric is significant for advancing the independent research and engineering application of high-head, large-capacity hydraulic turbines, supporting China's clean energy initiatives and local talent development [1][2]. Group 1: Research and Development Base - The Linzhi R&D base covers approximately 48,000 square meters and includes advanced facilities such as a sediment erosion testing platform for hydraulic turbines, which simulates long-term operation in sandy water flows [1]. - The base aims to integrate research, manufacturing, maintenance, and talent training, focusing on key technologies for hydraulic turbines to meet national strategic needs [2]. Group 2: Technological Innovations - Since 2019, Dongfang Electric has been conducting research on key technologies for high-head, large-capacity hydraulic turbines, collaborating with research institutions and enterprises to address over 70 technical challenges across various disciplines [4]. - The company has developed proprietary software that reduces water bucket modeling time from two weeks to 15 minutes and has implemented advanced testing technologies, achieving over 30 patents in the process [4]. Group 3: Milestones in Production - In May 2023, Dongfang Electric successfully produced a 150 MW hydraulic turbine with complete domestic intellectual property rights, marking a historic breakthrough in the localization of key technologies [5]. - The turbine was successfully applied in the Jinwo Hydropower Station, which is now a testament to the company's innovation and manufacturing capabilities [5]. Group 4: Future Goals - Dongfang Electric is now focused on developing a 500 MW hydraulic turbine, with the first unit being manufactured for the Zala Hydropower Station, which is recognized as the most challenging hydropower project currently under construction [6][8]. - The company aims to lead the industry in the development of higher head and larger capacity hydraulic turbines, transitioning from a follower to a leader in technology [11].

Core Viewpoint - New materials are the cornerstone of modern technological revolution and industrial transformation, with significant achievements in China's new materials sector, although gaps remain in high-end and frontier areas compared to developed countries [1] Group 1: Company Strategy and Development - China Dongfang Electric Group is accelerating the development of strategic emerging industries, including new materials, with a focus on multi-industry synergy and tailored support policies for subsidiaries [1] - Sichuan Dongshu New Materials Co., Ltd. is committed to high-end transformation in the new materials industry, emphasizing domestic substitution and the development of high-value, competitive new materials [1][2] Group 2: Operational Performance - Dongshu New Materials has achieved significant sales growth, with wind energy materials sales increasing by 18.58% and international sales of basic epoxy resin rising by 274% [2] - The company has successfully transformed its photovoltaic silver paste product line, achieving a 15-fold increase in sales of TOPCon main grid silver paste [2] - The acquisition of Dongfang Feiyuan has strengthened the epoxy resin supply chain, producing over 130,000 tons of basic epoxy resin and maintaining a strong market position in the wind energy resin sector [2] Group 3: Innovation and Technology - Dongshu New Materials has enhanced its innovation capabilities, holding 54 invention patents and participating in the formulation of 11 national standards [3] - The company has established multiple innovation platforms and is actively collaborating with universities and research institutes on over 10 technology projects [3][4] - Key technological breakthroughs include the development of lightweight infusion resin for blades and advanced processes for high-purity tellurium [4] Group 4: Future Goals and Industry Positioning - Dongshu New Materials aims to cultivate specialized and innovative enterprises, focusing on high-end epoxy resins and advanced semiconductor materials, with a goal to form a competitive new materials industry cluster by the end of the 14th Five-Year Plan [5][6] - The company plans to implement precise support for potential projects in R&D investment, talent acquisition, and market expansion [6]