会议召开地点：上海证券交易所上证路演中心 （网址：http://roadshow.sseinfo.com/roadshowDisplay.do?tag=uhv） 特变电工股份有限公司 证券代码：600089 证券简称：特变电工 公告编号：临 2023-030 特变电工股份有限公司关于参加沪市特高压行业上市公司 2022 年年报集体业绩说明会暨公司 2023 年第一季度 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： 会议召开时间：2023 年 4 月 25 日(星期二) 下午 13:00-14:00 会议主题：沪市主板特高压行业上市公司集体业绩说明会 会议召开方式：上证路演中心视频结合网络互动的方式 投资者可于 2023 年 4 月 18 日(星期二) 至 4 月 24 日(星期一)16:00 前登 录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 tbeazqb@tbea.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 特变电工股份有限公司（以下简称"公司"） ...

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥3,872,019.65 million, representing a 72.15% increase compared to the same period last year[9]. - Net profit attributable to shareholders of the listed company was ¥690,527.71 million, a 122.29% increase year-on-year[9]. - The net profit after deducting non-recurring gains and losses was ¥707,496.45 million, reflecting a significant increase of 262.82% compared to the previous year[9]. - The net cash flow from operating activities amounted to ¥1,041,764.48 million, up 119.57% from the same period last year[9]. - The company's total revenue reached RMB 3,879,714.52 million, representing a 72.19% increase compared to the same period last year[40]. - Operating income was RMB 3,872,019.65 million, up 72.15% year-over-year, driven by increased sales of polysilicon and coal products[41]. - Net profit increased by 149.93% to RMB 954,593.90 million, with net profit attributable to shareholders of the parent company rising by 122.29% to RMB 690,527.71 million[41]. - Operating cash flow increased by 119.57% to RMB 1,041,764.48 million, attributed to higher sales and improved accounts receivable management[39]. Earnings and Profitability - Basic earnings per share for the reporting period (1-6 months) reached CNY 1.8221, a 117.88% increase compared to the same period last year[10]. - Diluted earnings per share also stood at CNY 1.8221, reflecting the same 117.88% year-over-year growth[10]. - The weighted average return on equity increased by 6.38 percentage points to 14.4497% compared to the previous year[10]. - The gross profit margin for domestic sales improved by 14.32 percentage points to 39.49%, while the gross profit margin for overseas sales decreased by 1.70 percentage points to 10.43%[45]. - The company's transformer product revenue increased by 14.97% year-on-year, reaching ¥619,901.57 million, while the gross margin decreased by 1.28 percentage points to 16.79%[48]. - The revenue from the cable and wire products grew by 52.70% year-on-year to ¥513,768.34 million, with a stable gross margin of 9.06%[49]. - The revenue from the new energy industry and engineering surged by 97.48% year-on-year to ¥1,295,514.06 million, with the gross margin increasing by 27.11 percentage points to 56.34%[50]. - The revenue from the power transmission and transformation engineering increased by 174.01% year-on-year to ¥146,761.22 million, with a gross margin rise of 2.03 percentage points to 11.12%[50]. - The coal business revenue skyrocketed by 196.09% year-on-year to ¥813,155.88 million, with the gross margin increasing by 14.79 percentage points to 47.87%[50]. Assets and Liabilities - The net assets attributable to shareholders of the listed company at the end of the reporting period were ¥4,836,967.50 million, a 9.46% increase from the end of the previous year[9]. - Total assets increased to ¥13,887,925.22 million, marking a 9.91% rise compared to the end of the previous year[9]. - The company's total assets reached CNY 138,879,252,171.31, an increase from CNY 126,358,081,101.82 at the end of the previous year[147]. - Total liabilities increased from CNY 69.39 billion at the beginning of the year to CNY 75.78 billion at the end of the period, representing an increase of approximately 9.3%[148]. - The company's total liabilities to assets ratio decreased to 54.57%, down by 0.35 percentage points from the previous year[144]. - The total current assets as of June 30, 2022, amounted to CNY 66,012,519,315.01, compared to CNY 59,144,189,992.92 at the end of the previous year[146]. - The company's total equity attributable to shareholders increased from CNY 44.19 billion to CNY 48.37 billion, a rise of about 9.9%[149]. Research and Development - Research and development expenses grew by 51.87% to RMB 42,787.07 million, reflecting the company's commitment to enhancing technology in power transmission and coal mining[42]. - The company added 130 authorized patents in the first half of 2022, including 18 invention patents, bringing the total to 1,685 effective authorized patents[25]. - The company is actively involved in the development of key technologies for renewable energy, focusing on digital management and optimization to reduce costs and improve efficiency[24]. - The company plans to enhance its research and development efforts to leverage the advantages of the improved Siemens method, aiming to reduce production costs and improve product quality[68]. Market and Industry Trends - The company’s main business includes power transmission and transformation, new energy, and energy sectors, with no significant changes in operations during the reporting period[13]. - The renewable energy sector is rapidly developing, supported by multiple government policies aimed at promoting green and low-carbon energy transformation[17]. - In the first half of 2022, the national power investment reached CNY 406.3 billion, a 12.0% increase year-on-year, with grid engineering investment growing by 9.9%[16]. - The company is a leader in the power transmission and transformation industry, with its transformer products achieving world-leading levels in ultra and extra-high voltage equipment[16]. - The company plans to expand its market presence through strategic partnerships and investments in new energy projects, aligning with national energy policies[15]. Environmental and Social Responsibility - The company has established a complete business system for power transmission and transformation, enhancing its international system integration capabilities[22]. - The company aims to achieve "carbon peak and carbon neutrality" by promoting large-scale renewable energy projects and enhancing energy storage capabilities[21]. - The company has implemented energy-saving plans for the "14th Five-Year Plan," focusing on high-energy-consuming equipment diagnostics and upgrades[91]. - The company continues to support poverty alleviation and rural revitalization efforts, actively participating in the "Ten Thousand Enterprises Help Ten Thousand Villages" initiative[93]. - The company has established strategic partnerships with local agricultural processing and sales enterprises to address product sales issues for walnut factories in two assisted villages[93]. Risks and Challenges - The company faces macroeconomic risks due to geopolitical conflicts and global inflation, which may impact profitability[63]. - The company is experiencing intensified market competition, particularly in the renewable energy sector, necessitating resource integration and cost reduction strategies[64]. - The company is exposed to foreign exchange risks due to increasing international operations, with a focus on utilizing hedging tools to mitigate these risks[65]. - Raw material costs account for approximately 90% of production costs, with rising prices of key materials like copper and aluminum posing a risk to profitability[66]. - The ongoing COVID-19 pandemic has affected procurement and production, leading to potential project delays and increased costs[71]. Corporate Governance and Shareholder Matters - The company has not proposed any profit distribution or capital reserve increase plans for the half-year period[76]. - The company has made commitments to avoid engaging in similar business activities as its major shareholders to prevent competition[96]. - The company has not disclosed any new strategies or significant changes in its financial operations during the reporting period[108]. - The total number of shares increased from 3,788,550,289 to 3,790,793,289 due to the issuance of 2,243,000 new shares under the 2019 stock option incentive plan[118]. - The largest shareholder, Xinjiang Tebian Electric Group Co., Ltd., holds 446,982,637 shares, representing 11.79% of the total shares[119]. Legal and Compliance Issues - The company has reported significant litigation and arbitration matters during the reporting period[99]. - The total amount involved in the lawsuit against Xuyi Gaochuan Wind Power Co., Ltd. is approximately RMB 132.89 million, including overdue payment penalties and other related costs[100]. - The company has successfully acquired 100% equity of Jiangsu Gaochuan through a court auction, which has been registered[100].

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥22,492,046,489.45, representing a 25.19% increase compared to ¥17,966,412,784.63 in the same period last year[11]. - Net profit attributable to shareholders was ¥3,106,459,979.44, a significant increase of 237.64% from ¥920,044,646.76 in the previous year[11]. - The net cash flow from operating activities was ¥4,744,546,358.23, up 225.73% from ¥1,456,606,145.17 in the same period last year[11]. - Basic earnings per share increased to ¥0.8363, a rise of 237.63% compared to ¥0.2477 in the same period last year[12]. - The weighted average return on net assets increased by 5.47 percentage points to 8.0682% from 2.6031% in the previous year[12]. - The company reported a net profit excluding non-recurring gains and losses of ¥1,950,015,851.35, which is a 143.47% increase from ¥800,934,345.70 in the same period last year[11]. - Operating profit increased by 268.22% to ¥1,214,711,767.62, while net profit rose by 262.24% to ¥1,054,388,758.91, driven by increased fair value gains and higher sales volumes[39]. - The company reported a substantial increase in investment income by 174.98%, attributed to the improved net profit of its associate company and gains from foreign exchange settlements[39]. - The total profit for the first half of 2021 was CNY 4,512,886,612.81, compared to CNY 1,243,221,025.43 in the same period of 2020, indicating an increase of approximately 263%[145]. Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥110,289,637,496.67, a slight increase of 0.73% from ¥109,494,347,449.13 at the end of the previous year[11]. - The total liabilities decreased to CNY 62,274,352,063.02 from CNY 62,897,661,489.46, showing a reduction of 0.99%[137]. - The company's total equity increased to CNY 48,015,285,433.65, up from CNY 46,596,685,959.67, marking an increase of 3.02%[138]. - The company's inventory stood at CNY 6,139,576,501.56, a slight increase from CNY 6,018,087,029.58, reflecting a growth of 2.01%[135]. - The accounts receivable increased marginally to CNY 12,683,119,837.41 from CNY 12,615,980,927.49, indicating a growth of 0.53%[135]. - The company's total liabilities at the end of the reporting period are not explicitly stated but can be inferred from the total equity and assets[167]. Revenue Segments - Revenue from the new energy sector and supporting projects grew significantly by 144.65% to ¥6,560,250,756.41, with a gross margin of 29.23%[42]. - The company's power generation business revenue grew by 33.51% year-on-year, with operating costs rising by 2.06%, leading to a gross margin increase of 13.89 percentage points[44]. - Revenue from the new energy industry and supporting projects surged by 144.65% year-on-year, with operating costs increasing by 105.27%, leading to a gross margin increase of 13.58 percentage points[43]. - The company's coal business revenue increased by 8.40% year-on-year, while operating costs rose by 9.29%, resulting in a gross margin decrease of 0.55 percentage points[44]. - The revenue from the power transmission and transformation engineering segment declined by 71.17% year-on-year, with operating costs decreasing by 68.50%, resulting in a gross margin decrease of 7.69 percentage points[43]. Research and Development - Research and development expenses increased by 15.09% to ¥281,729,419.07, indicating a continued focus on innovation[37]. - The company added 98 authorized patents, including 29 invention patents, bringing the total to 1,472 effective authorized patents[25]. - The company has established a national-level enterprise technology center and has participated in the formulation of national and industry standards, enhancing its innovation capabilities[25]. Environmental Responsibility - The company is focused on environmental responsibility and compliance with pollution control standards[70]. - The company’s Changji Thermal Power Plant achieved ultra-low emissions certification for its pollutants[70]. - The company reported emissions of 29.20 tons of particulate matter, 131.40 tons of sulfur dioxide, and 327.70 tons of nitrogen oxides from its Changji Thermal Power Plant, all within national emission standards[71]. - The company achieved a comprehensive water recycling utilization rate of over 98% in its polysilicon production facilities[74]. - The company has established a carbon asset management leadership group to reduce carbon emissions and support national carbon neutrality goals[83]. Market Position and Strategy - The company plans to enhance its market position by focusing on the development of new energy solutions and expanding its international system integration business[19]. - The company is positioned to benefit from national policies promoting renewable energy and infrastructure development, which are expected to drive growth in the transmission and transformation industry[21]. - The company is actively pursuing market expansion in new energy and emerging markets, maintaining a leading position in traditional markets such as nuclear and hydropower[30]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, market competition, and the impact of COVID-19 on project execution and revenue[58][59]. - Rising raw material costs, which account for approximately 90% of production costs, pose a significant risk to profitability[61]. - Customer credit risk has increased due to economic pressures, prompting the company to strengthen credit assessments and monitoring[64]. Related Party Transactions - The company reported a total of 30,605.91 million yuan in related party transactions for purchased and commissioned processing products, accounting for 31.86% of similar transaction amounts[98]. - The company generated 7,444.30 million yuan from sales of transformers, cables, and other services to its largest shareholder, accounting for 0.85% of similar transaction amounts[98]. - The company maintained a good integrity status, with no significant debts or court judgments unfulfilled by the company or its major shareholder during the reporting period[98]. Legal Matters - The company reported significant litigation and arbitration matters during the reporting period[93]. - New Energy Company is pursuing a lawsuit against Xuyi Gaochuan for unpaid project payments totaling ¥130,488,063.62 and associated overdue penalties[96]. - A mediation agreement was reached with Jiangsu Gaochuan, requiring payment of overdue amounts by April 30, 2021[96]. Financial Management - The company has no overdue bonds, indicating effective debt management[130]. - The company reported a stable loan repayment rate of 100%, maintaining its commitment to debt obligations[131]. - The company plans to implement hedging and forward foreign exchange trading in 2021[65].