Core Viewpoint - Despite global trade tensions and potential shifts in the energy storage industry, Chinese energy storage companies continue to secure significant orders, indicating a robust market demand and strategic partnerships [1]. Order Analysis - Domestic orders account for 60% of the total, with 6 out of 10 strategic collaborations occurring within China, while the remaining 4 are international, primarily in Australia, the UK, and Congo [2]. - The largest single order reached 15GWh, signed by Pengcheng Infinite during the ESIE 2025 exhibition, showcasing the growing scale of collaborations [3]. - Battery cell orders exceeded 4GWh, with notable contracts including over 3GWh from Lishen (Qingdao) and a GWh-level order from Penghui Energy [3]. - Industrial and commercial storage collaborations reached a total of 2 billion yuan, with significant agreements signed by Zhongbei Communication and Desai Battery [3]. Company Collaborations - Pengcheng Infinite signed strategic cooperation agreements with eight companies, totaling over 15GWh during the ESIE 2025 exhibition [6]. - Lishen (Qingdao) secured over 3GWh in orders with five partners, focusing on battery cell supply and system integration [10]. - Zhongxin Innovation signed agreements for 392Ah battery cells and a 6.25MWh liquid-cooled container system, enhancing energy efficiency by 25% compared to previous models [13]. - Penghui Energy entered into a strategic cooperation agreement for GWh-level battery cells with Xiamen Hechu Energy [14]. - Zhongbei Communication and Jinkai New Energy signed a strategic cooperation investment framework agreement worth 2 billion yuan for projects in Xinjiang [17]. - Jinko Energy signed a strategic cooperation agreement for 200MWh and 100MWh storage projects in Australia [21][23]. - Desai Battery and Linghang Investment formalized a procurement agreement for a 200MWh storage system [24]. - Shanghai Electric secured a 120MWh storage project order in the UK, marking its first overseas order in the energy storage market [27]. - LePu Sodium Energy signed a strategic cooperation agreement for a 135MWh storage project in Congo [29]. - Zhongna Energy reached an agreement for 200,000 sodium sulfate battery cells, focusing on low-temperature applications [32]. Technological Innovations - Pengcheng Infinite showcased its new generation liquid-cooled storage system, which reduces land use by 7% and improves discharge efficiency by 4% [8]. - Zhongxin Innovation's new battery cells and systems are designed to enhance safety and efficiency, with a 15% reduction in system cost [16]. - Desai Battery's new energy management platform integrates smart monitoring and operational strategies for enhanced system performance [26].

Group 1 - A batch of A-share listed companies announced share buybacks and increases in holdings, with companies accelerating their actions [1] - GoerTek's controlling shareholder completed the share increase plan, with a total expenditure of approximately 1 billion yuan [2] - Daqin Railway received a stake increase from CITIC Financial Assets, reaching a holding ratio of 5% [2] Group 2 - New Fengming plans to increase its shareholding by 200 million to 300 million yuan [1] - Baotai shares plans to increase its shareholding by 150 million to 300 million yuan [1] - Junsheng Electronics plans to increase its shareholding by 50 million to 100 million yuan [1] Group 3 - China Railway proposed a share buyback of 800 million to 1.6 billion yuan to reduce registered capital [1] - Sichuan Jiuzhou proposed a share buyback of 100 million to 200 million yuan for the same purpose [1] - Energy National Zhen proposed a share buyback of 50 million to 100 million yuan [1]

证券代码：601727 证券简称：上海电气 编号：临 2025-022 上海电气集团股份有限公司 关于以集中竞价方式回购 A 股股份方案的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 1、上海电气集团股份有限公司（以下简称"公司"）拟以集中竞价 交易方式回购公司 A 股股份，用于减少公司注册资本。预计回购金额 不低于人民币 1.5 亿元（含）且不超过人民币 3 亿元（含），回购价格 不高于公司董事会审议通过回购决议前 30 个交易日公司股票交易均 价的 150%，即不超过人民币 12.29 元/股（含）。 2、本次回购方案尚需提交股东大会、A 股类别股东会议及 H 股 类别股东会议审议，回购期限为自公司股东大会、A 股类别股东会议 及 H 股类别股东会议审议通过本次回购方案之日起三个月内。 3、回购股份资金来源为公司自有资金及股票回购专项贷款。 4、经问询，公司董监高、控股股东未来 6 个月内均没有减持股 份的计划。若相关主体未来有增减持计划，将严格按照有关法律、法 规及公司股票上市地证券监督管理机构的 ...

证券代码：601727 证券简称：上海电气 编号：临 2025-023 上海电气集团股份有限公司 关于召开2024年年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 上海电气集团股份有限公司（以下简称"公司"）已于2025年3 月29日披露公司2024年年度报告，为便于广大投资者更全面深入地了 解公司2024年度的经营成果、财务状况，公司计划于2025年4月21日 举行2024年年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对2024年度经 营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息 披露允许的范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 （一）会议召开时间：2025年4月21日（星期一）15:00至16:00 会议召开时间：2025年4月21日（星期一）15:00至16:00 会议召开地 ...

证券代码：601727 证券简称：上海电气 编号：临 2025-024 上海电气集团股份有限公司 关于委托理财暨关联交易的补充公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 本次委托理财不得投资股权类资产及挂钩股票的相关目标。 2025 年 3 月 28 日，上海电气集团股份有限公司（以下简称"公 司"或"本公司"）董事会五届一百零八次会议审议通过《关于使用暂 时闲置资金进行有价证券投资暨关联交易的议案》，同意公司使用暂 时闲置资金投资建元信托股份有限公司（以下简称"建元信托"）发 行的 R3 及以下风险的固定收益类信托计划，投资金额为单日最高余 额不超过人民币 20 亿元（含收益金额，在该额度内可循环使用），投 资期限自 2025 年 4 月 1 日起至 2026 年 3 月 31 日止。公司已于 2025 年 3 月 29 日在上海证券交易所网站（www.sse.com.cn）披露《关于委 托理财暨关联交易的公告》。现对公告进一步补充披露如下情况： 一、建元信托基本情况 于本公告日期，建元信托是一家国 ...

上海电气集团股份有限公司 证券代码：601727 证券简称：上海电气 编号：临 2025-021 董事会五届一百零九次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 上海电气集团股份有限公司（以下简称"公司"）于 2025 年 4 月 9 日以通讯方式召开了公司董事会五届一百零九次会议。应参加本次 会议的董事 9 人，实际参加会议的董事 9 人。会议符合《公司法》和 《公司章程》的有关规定。会议审议并通过以下决议： 一、关于豁免公司董事会五届一百零九次会议通知时限的议案 本次参会的所有董事在充分了解《中华人民共和国公司法》、《公 司章程》中关于公司召开董事会临时会议的通知要求以及董事权利的 内容基础上，同意根据公司实际情况需要，豁免公司董事会五届一百 零九次会议不少于五日提前发出通知的要求。 表决结果：9 票同意，0 票反对，0 票弃权。 二、关于公司以集中竞价方式回购 A 股股份方案的议案 1、同意公司以集中竞价交易方式回购公司 A 股股份，用于减少 公司注册资本。预计回购金额不低于人民币 1.5 亿元（含）且 ...

Group 1 - The Hannover Industrial Fair 2025 focused on cutting-edge topics such as artificial intelligence, green energy, and digital transformation, attracting over 3,800 companies from more than 60 countries, with nearly 1,000 from China [1] - Chinese companies showcased a wide range of industrial technologies, from traditional equipment manufacturing to AI industrial models and flexible manufacturing platforms, demonstrating strong "going global" momentum [1][2] - The event highlighted the transformation of companies like Shaanxi Blower (Group) Co., Ltd. from single equipment manufacturers to comprehensive smart green system solution providers, emphasizing the importance of system performance and delivery efficiency [1][2] Group 2 - Shaanxi Blower has established 28 overseas companies and service institutions in countries like Germany, Czech Republic, India, and Indonesia, forming a global system that integrates equipment, services, and operations [1][2] - The fair also featured innovations from Shanghai Electric, which signed strategic cooperation agreements worth over 3.6 billion RMB with companies from Germany, France, and Egypt, showcasing the integration of Chinese manufacturing capabilities with cultural heritage [2] - The event underscored the growing role of Chinese enterprises in global industrial collaboration, with a focus on building win-win ecosystems rather than mere formal partnerships [3]

证券代码：601727 证券简称：上海电气 编号：临 2025-020 上海电气集团股份有限公司 关于选举职工董事的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 近日，上海电气集团股份有限公司（以下简称"公司"）召开第三 届职工代表大会第一次联席会议，会议选举王晨皓先生为公司第五届 董事会职工董事，任期至第五届董事会任职结束之日止。 王晨皓先生的简历详见附件。 特此公告。 上海电气集团股份有限公司董事会 二〇二五年四月三日 附件：王晨皓先生简历 王晨皓，55 岁，现任本公司党委副书记、职工董事、工会主席， 上海市机电工会主席，上海电气李斌技师学院（上海智能制造工匠学 院）院长。王先生曾任上海市针织品进出口有限公司纪委副书记、党 委书记助理、党委办公室主任、监察室主任，东方国际（集团）有限 公司人力资源部部长助理、综合业务部部长助理、监察室副主任、资 产运作部副部长、党委工作部副部长，上海东方国际资产经营管理有 1 限公司总经理，东方国际（集团）有限公司纪委副书记、党委工作部 部长、监察室主任，上海交运集团股份有限公司党 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年3月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 上海電氣集團股份有限公司 呈交日期: 2025年4月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02727 | 說明 | 不適用 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,924,482,000 | RMB | | 1 RMB | | 2,924,482,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 2,924,482,000 | RMB | | 1 RMB | | 2,924,482,000 | | 2. 股份分類 | 普通 ...

Core Insights - Shanghai Electric reported a slight increase in total revenue for 2024, reaching 116.186 billion yuan, a year-on-year growth of 1.2%, but net profit declined by 6.3% to 0.752 billion yuan, indicating challenges in cost control and profitability [1][4] - The energy equipment segment was a significant growth driver, with new orders amounting to 89.1 billion yuan, reflecting an 18.45% increase [5][6] Revenue and Profitability - The company's total revenue for 2024 was 116.186 billion yuan, showing a minor increase of 1.2% year-on-year [4] - Net profit attributable to shareholders decreased by 6.3% to 0.752 billion yuan, highlighting issues in operational efficiency and cost management [4][7] - Gross margin improved to 18.6%, with the energy equipment segment achieving a gross margin of 19.7%, up by 2 percentage points [4][5] Energy Equipment Performance - The energy equipment segment saw new orders of 89.1 billion yuan, driven by contributions from coal-fired power equipment (32.62 billion yuan), nuclear power equipment (7.89 billion yuan), wind power equipment (17.38 billion yuan), and energy storage equipment (11.92 billion yuan) [5][6] - Shanghai Electric maintained a leading position in the coal power market, achieving the lowest coal consumption globally and winning significant projects [6] Cost Control and Challenges - Despite the strong performance in the energy equipment segment, the decline in net profit indicates ongoing challenges in cost control and profitability [6][7] - The company's non-recurring net profit was -0.616 billion yuan, suggesting substantial expenditures in non-core business areas, particularly in R&D and market expansion [6][7] Industrial Equipment and Integrated Services - The industrial equipment and integrated services segments showed modest order growth, with orders of 42.29 billion yuan and 22.21 billion yuan, respectively, indicating weaker profitability contributions [7] - Future efforts are needed to enhance the profitability of these segments for balanced overall business development [7]