特变电工公告，公司"特变新能源基础设施投资绿色碳中和1期资产支持专项计划"已正式设立，实际收 到认购金额为人民币13.37亿元。资产支持证券分为GC特变优和GC特变次，GC特变优预期年收益率为 2.70%，规模为13.16亿元，预期到期日为2040年12月26日；GC特变次预期年收益率不适用，规模为 2100万元，预期到期日相同。推广对象为合格投资者，托管人为中国民生银行股份有限公司乌鲁木齐分 行，登记机构为中国证券登记结算有限责任公司上海分公司。 ...

Group 1 - The core viewpoint of the news is that TBEA Co., Ltd. has shown significant stock price growth and strong financial performance in recent months, indicating a positive market sentiment towards the company [1][2][3]. Group 2 - As of December 26, TBEA's stock price increased by 2.03% to 23.60 CNY per share, with a trading volume of 1.027 billion CNY and a market capitalization of 119.246 billion CNY [1]. - Year-to-date, TBEA's stock price has risen by 88.95%, with a 7.86% increase over the last five trading days, an 8.26% increase over the last 20 days, and a 45.50% increase over the last 60 days [2]. - TBEA's main business segments include electrical equipment products (27.64%), coal products (18.27%), and cable products (16.22%), among others [2]. - As of September 30, TBEA reported a revenue of 72.918 billion CNY for the first nine months of 2025, representing a year-on-year growth of 0.88%, and a net profit of 5.484 billion CNY, which is a 27.62% increase year-on-year [3]. - TBEA has distributed a total of 15.118 billion CNY in dividends since its A-share listing, with 6.591 billion CNY distributed in the last three years [4].

Core Viewpoint - The company has implemented a series of digital transformation projects in the power transmission and transformation sector, focusing on "intelligent, high-end, and green" development, leading to a revenue increase in wire and cable products for the first half of 2025. Group 1: Financial Performance - In the first half of 2025, the company's wire and cable product revenue reached 7.843 billion yuan, representing a year-on-year growth of 10.93% [1] - The company has maintained a strategy of conducting hedging business, which minimizes the impact of fluctuations in bulk raw material prices on already signed orders [1] Group 2: Pricing Strategy - New orders will be quoted with consideration of the trends in bulk raw material prices, ensuring that fluctuations in prices of copper and aluminum do not significantly affect the overall product gross margin [1]

证券日报网讯12月25日，特变电工（600089）在互动平台回答投资者提问时表示，公司海外订单主要分 布在亚洲及中东，在北美洲、欧洲、非洲等地区也有订单。公司高度重视数据中心等新兴市场机遇，将 结合能源需求趋势，审慎研究海外布局，以更好地服务国际客户，推动公司全球化发展。 ...

Core Viewpoint - TBEA Co., Ltd. is undergoing significant governance changes by proposing to abolish the supervisory board and transfer its responsibilities to the audit committee of the board of directors, aiming to optimize its corporate governance structure [1] Group 1: Stock Performance - As of December 23, 2025, TBEA's stock closed at 22.99 yuan, up 2.36% from the previous trading day [1] - The stock opened at 22.47 yuan, reached a high of 23.0 yuan, and a low of 22.15 yuan, with a trading volume of 41.6 billion yuan and a turnover rate of 3.64% [1] Group 2: Shareholder Meeting Proposals - The company held its sixth extraordinary general meeting in 2025, where a key proposal to cancel the supervisory board was discussed [1] - The meeting also included the review of hedging and forward foreign exchange trading activities, as well as related party transactions with Xinjiang TBEA Group Co., Ltd. for the year 2026 [1] - The expected total amount for related party transactions in 2026 is 5.64 billion yuan, covering procurement, sales, labor services, and leasing [1] - The hedging business is projected to have a maximum margin and premium of 8.6 billion yuan, with a cap of 0.1 million USD for forward foreign exchange trading margin [1]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002471 | 中醫學股 | 4.99 | -8.94% | 290.70万 | 14.73亿 | | 301002 | 崧盛股份 | 32.24 | -5.84% | 7.88万 | 2.57亿 | | 001208 | 化责线缆 | 19.84 | -5.66% | 149.51万 | 32.02亿 | | 300427 | 红相股份 | 12.19 | -5.65% | 131.62万 | 16.71亿 | | 300423 | 昇辉科技 | 8.52 | -5.44% | 43.75万 | 3.77亿 | | 300265 | 通光线缆 | 12.96 | -4.71% | 119.26万 | 16.29亿 | | 002309 | 中利隻团 | 3.45 | -4.17% | 79.36万 | 2.75亿 | | 920556 | 雅达股份 | 10.31 | -3.91% | 2.98万 | 3120.40万 | | 600192 | ...

特变电工股份有限公司 特变电工股份有限公司 2025 年第六次临时股东大会会议资料 新疆·昌吉 2025 年 12 月 29 日 特变电工股份有限公司 目 录 | 1、特变电工股份有限公司 2025 年第六次临时股东大会议程 | 1 | | --- | --- | | 2、公司开展套期保值及远期外汇交易业务的议案 | 2 | | 3、公司与新疆特变电工集团有限公司 2026 年度日常关联交易的议案 | 7 | | 4、关于取消监事会的议案 | 17 | | 5、关于修订《特变电工股份有限公司章程》的议案 | 18 | | 6、关于修订《特变电工股份有限公司股东大会议事规则》的议案 | 19 | | 7、关于修订《特变电工股份有限公司董事会议事规则》的议案 | 20 | | 8、关于修订《特变电工股份有限公司独立董事工作制度》的议案 | 21 | 特变电工股份有限公司 特变电工股份有限公司 2025 年第六次临时股东大会议程 一、现场会议召开时间：2025 年 12 月 29 日（星期一）13:00 二、现场会议地点：新疆维吾尔自治区昌吉市北京南路 189 号公司国际会 议中心 特变电工股份有限公司 2025 ...

Core Viewpoint - The market size of China's switch wire industry is projected to grow from 4.2 billion yuan in 2022 to 8.2 billion yuan in 2024, driven by strong demand from power infrastructure construction, the renovation of old power grids, and the rapid expansion of new energy industries under the "dual carbon" goals [1][8]. Industry Overview - Switch wire is composed of multiple enameled copper flat wires arranged in a specific manner, offering advantages such as reduced loss, improved heat dissipation, enhanced mechanical strength, space savings, and simplified processes, making it widely used in large power transformers [3][4]. Market Growth Factors - The growth in the switch wire market is supported by: - Strong demand from power infrastructure projects and the ongoing renovation of aging power grids [1][8]. - Rapid expansion of new energy sectors like wind and solar power, which serve as a new engine for market growth [1][8]. - Upgrades in traditional industries and rail transportation, providing additional growth momentum [1][8]. Industry Chain - The switch wire industry chain includes: - Upstream materials such as copper, insulation varnish, insulation paper, wrapping materials, and cooling liquids, with copper being the primary raw material affecting conductivity and mechanical strength [6]. - Midstream production of switch wires [6]. - Downstream applications in power transmission and transformation, rail transportation, and new energy sectors [6]. Competitive Landscape - Leading companies like Hongyuan Co. and Jinbei Electric occupy core markets due to their technological and production advantages, while smaller firms focus on lower-end markets [9]. - Notable companies in the industry include Hongyuan Co., Jinbei Electric, and others, which have established strong positions in high-end markets [9][10]. Industry Development Trends 1. **Shift Towards Intelligent and Green Production** - The industry is moving towards automation and digital control systems, enhancing production quality and efficiency while minimizing waste and energy consumption [11]. 2. **Upgrade to High-Performance Products** - As the demand for switch wires increases, especially in high-temperature resistance and insulation reliability, companies are expected to invest more in R&D to enhance product performance [12]. 3. **Sustained Market Demand Growth** - The market demand for switch wires is anticipated to continue rising due to supportive national policies and technological advancements that expand application scenarios [13].

Core Viewpoint - The Hunan provincial government and TBEA Co., Ltd. are collaborating to enhance energy security and upgrade industrial clusters, aiming to establish a leading position in the ultra-high voltage equipment industry globally [1] Group 1: Collaboration and Strategic Goals - The meeting emphasized the strong partnership between Hunan and TBEA in high-quality development, focusing on energy security, industrial transformation, and talent cultivation [1] - TBEA is encouraged to increase investment and industrial layout in Hunan during the 14th Five-Year Plan period, participating in major energy projects [1] Group 2: Technological and Educational Initiatives - The collaboration aims to tackle key core technologies and promote integration of industry and education to nurture talent [1] - The joint efforts are expected to enhance the electric equipment industry cluster, contributing significantly to the construction of a strong energy nation [1]

Group 1 - The core viewpoint of the news is that TBEA Co., Ltd. has shown significant stock performance with a year-to-date increase of 78.86%, despite a recent decline of 4.00% over the last five trading days [1] - As of December 22, TBEA's stock price reached 22.34 CNY per share, with a market capitalization of 112.88 billion CNY and a trading volume of 1.24 billion CNY [1] - The company has a diverse revenue structure, with major contributions from electrical equipment products (27.64%), coal products (18.27%), and wire and cable products (16.22%) [1] Group 2 - TBEA operates in the power equipment sector, specifically in the sub-sector of transmission and transformation equipment, and is involved in concepts such as transformers and wind energy [2] - For the period from January to September 2025, TBEA reported a revenue of 72.92 billion CNY, reflecting a year-on-year growth of 0.88%, and a net profit attributable to shareholders of 5.48 billion CNY, which is a 27.62% increase [2] - The company has distributed a total of 15.12 billion CNY in dividends since its A-share listing, with 6.59 billion CNY distributed over the past three years [3]