Group 1 - The company reported a revenue of 48.35 billion, representing a year-on-year growth of 1.11% [1] - The net profit attributable to shareholders reached 3.18 billion, showing a year-on-year increase of 5% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 2.787 billion, reflecting a year-on-year decline of 5.30% [1]

Core Viewpoint - The company has received a bid notification from Saudi Electricity Company for a localization procurement project involving high voltage transformers and reactors, which is expected to positively impact its financial performance and international market presence [2][4][6]. Group 1: Company Overview - The company is engaged in the manufacturing and supply of electrical equipment, including transformers and reactors, and is actively expanding its international market presence [2][4]. - The company’s board of directors has confirmed the authenticity and completeness of the information disclosed in the reports [1][8]. Group 2: Financial Data and Shareholder Information - The company reported a total bid amount of approximately 16.4 billion RMB for the project, with an estimated execution amount of around 11.5 billion RMB based on a minimum execution rate of 70% [4]. - The company’s major shareholders and financial data are disclosed in the semi-annual report, which is available for investor review [1][2]. Group 3: Project Details and Impact - The project includes the supply of 179 ultra-high voltage transformers, 108 ultra-high and high voltage reactors, and 391 high voltage transformers, with a contract execution period of 7 years [2][4]. - The establishment of a manufacturing facility in Saudi Arabia is planned to support local production and supply, enhancing the company's operational capabilities in the region [4][6]. Group 4: Risk Management and Future Plans - The company is committed to adhering to legal and regulatory requirements for information disclosure and will continue to monitor and report on the project's progress [6][8]. - The company has established a risk management framework to address potential market and operational risks associated with the new project [4][6].

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 2025-055 特变电工股份有限公司 十一届三次董事会会议决议公告 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。 特变电工股份有限公司于 2025 年 8 月 19 日以电子邮件、送达方式发出召开 公司十一届三次董事会会议的通知，2025 年 8 月 29 日以通讯表决方式召开了公 司十一届三次董事会会议，应当参会董事 11 人，实际收到有效表决票 11 份。会 议召集召开程序符合有关法律法规和《公司章程》的规定，会议所做决议合法有 效。会议审议通过了以下议案： 一、审议通过了公司 2025 年半年度报告及半年度报告摘要。（详见上海证 券交易所网站 www.sse.com.cn） 该项议案同意票 11 票，反对票 0 票，弃权票 0 票。 公司董事认为并保证：特变电工股份有限公司 2025 年半年度报告及半年度 报告摘要严格按照《公开发行证券的公司信息披露内容与格式准则第 3 号—半年 度报告的内容与格式》 《上海证券交易所股票上市规则》 二、 ...

Core Viewpoint - The report summarizes the financial performance and key metrics of TBEA Co., Ltd. for the first half of 2025, highlighting growth in total assets and net profit, while providing insights into shareholder structure and debt instruments [1][3]. Company Overview - TBEA Co., Ltd. is listed on the Shanghai Stock Exchange with the stock code 600089. The company is headquartered in Changji, Xinjiang, China [1]. - The total assets of the company at the end of the reporting period amounted to RMB 220.79 billion, reflecting a 6.17% increase compared to the previous year [1]. Financial Data - The operating revenue for the reporting period was RMB 48.35 billion, showing a 1.11% increase year-on-year [1]. - The total profit for the period reached RMB 4.42 billion, which is a 15.62% increase compared to the previous year [1]. - The net profit attributable to shareholders of the listed company was reported, but specific figures were not provided in the summary [1]. Shareholder Structure - As of the end of the reporting period, the total number of shareholders was 319,255 [2]. - The largest shareholder, Xinjiang TBEA Group Co., Ltd., holds 11.50% of the shares, amounting to 581,077,428 shares [2]. - Other significant shareholders include Xinjiang Honglian Venture Investment Co., Ltd. with 6.54% and Hong Kong Central Clearing Limited with 4.40% [2]. Debt Instruments - The company has issued various bonds, including a public offering of "Belt and Road" bonds with a maturity date in 2029 and a coupon rate of 5.00% [3][4]. - The report also mentions the issuance of technology innovation bonds with a maturity date in 2027 and a coupon rate of 10.00% [4].

特变电工股份有限公司 目 录 特变电工股份有限公司 特变电工股份有限公司 2025 年第三次临时股东大会议程 一、现场会议召开时间：2025 年 9 月 3 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 特变电工股份有限公司 特变电工股份有限公司 新疆·昌吉 （一）介绍来宾及股东到会情况； （二）审议议案： 主体承诺的议案； 象发行可转换公司债券具体事宜的议案。 （三）股东发言； （四）现场投票表决； （五）选举计票人与监票人并进行现场计票； （六）监票人宣布现场计票结果； （七）征求股东及股东代理人对现场表决结果是否有异议； 议中心 三、会议议程： （八）通过交易所系统统计现场及网络投票合并的最终结果； （九）新疆天阳律师事务所律师见证。 特变电工股份有限公司 特变电工股份有限公司 议案一 公司符合向不特定对象发行可转换公司债券条件的议案 各位股东： 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司证券 发行注册管理办法》等法律、法规及规范性文件的有关规定，对照公司的实际 情况逐项自查，公司董事会认为：公司符合现行法律法规和规范性文件中关于 向 ...

Group 1 - The company TBEA has been awarded a bid by Saudi Electricity Company for the localization procurement of ultra-high voltage and high voltage transformers and reactors, with a total estimated bid amount of approximately 16.4 billion RMB [1] - Based on an estimated execution volume of 70%, the expected revenue from this bid is around 11.5 billion RMB [1] - The framework tender has a duration of 7 years, with specific annual execution quantities and amounts subject to uncertainty [1] Group 2 - As of the latest report, TBEA's market capitalization stands at 71.5 billion RMB [2] - The company's revenue composition for 2024 is as follows: transformers 22.85%, coal 19.68%, new energy products and integrated engineering 18.94%, wires and cables 16.03%, power generation business 5.73%, aluminum electronic materials and aluminum and alloy products 5.73%, and power transmission and transformation engineering 5.04% [1]

Company Announcements - SMIC plans to issue A-shares to acquire minority stakes in its subsidiary, SMIC North, leading to a temporary suspension of its stock trading for up to 10 trading days [1] - Huasheng Tiancheng's director and supervisor plan to reduce their holdings by up to 0.9984% of the total shares [2] - BYD reported a net profit of 15.51 billion yuan for the first half of the year, a year-on-year increase of 13.79% [2] - Changfei Fiber's net profit for the first half of the year was 296 million yuan, down 21.71% year-on-year [2] - Jia Yuan Technology plans to invest 500 million yuan to acquire part of the equity in Endatong, focusing on the optical module industry [1][17] - Guizhou Moutai completed the repurchase of 3.9276 million shares [1][19] Financial Performance - CEC reported a net profit of 24.641 billion yuan for the first half of the year, a decrease of 12% year-on-year [5] - Longjiang Power achieved a net profit of 13.056 billion yuan, up 14.86% year-on-year [8] - China Rare Earth reported a net profit of 162 million yuan, turning from a loss of 244 million yuan in the previous year [9] - Huayi Brothers' net profit increased by 48.34% to 2.028 billion yuan [6] - Wealth Trend's net profit grew by 6.61% year-on-year [24] Mergers and Acquisitions - Tailin Micro plans to acquire 100% of Panqi Micro's equity through a combination of cash and stock issuance [4] - Aishen Medical announced the acquisition of partial equity in three medical institutions for a total of 105 million yuan [18] Stock Movements - Guizhou Moutai's controlling shareholder plans to increase its stake by 3 to 3.3 billion yuan [15] - Ganfeng Lithium plans to invest 4 billion yuan to build a new lithium-ion battery manufacturing base [16] Market Developments - China National Offshore Oil Corporation won a bid for a project in Qatar worth approximately 4 billion USD [14] - Aishen Medical's acquisition of equity in medical institutions aims to enhance its service coverage and operational efficiency [18]

Core Viewpoint - The company TBEA has been awarded a bid by Saudi Electricity Company for the localization procurement project of ultra-high voltage and high voltage transformers and reactors, indicating a significant expansion in its international operations and manufacturing capabilities [1] Group 1: Bid Details - The company has received a bid notification from Saudi Electricity Company, confirming its status as one of the winning bidders for the localization procurement project [1] - The supply scope includes 179 units of ultra-high voltage (EHV) transformers, 108 units of ultra-high and high voltage (EHV and HV) reactors, and 391 units of high voltage (HV) transformers [1] - The total bid amount is approximately 16.4 billion RMB, with an estimated execution amount of around 11.5 billion RMB based on a minimum execution volume of 70% [1] Group 2: Manufacturing and Localization - The company plans to establish a manufacturing plant in Saudi Arabia for transformers and reactors, aiming to achieve localized production and supply of related products [1]

Core Viewpoint - The company, TBEA Co., Ltd., reported a steady performance in the first half of 2025, achieving revenue of 48.401 billion yuan, a year-on-year increase of 1.12%, and a net profit of 3.184 billion yuan, reflecting a growth of 5% despite challenges in the industry cycle and resource price declines [1] Group 1: Financial Performance - The company achieved a total profit of 4.423 billion yuan, marking a year-on-year increase of 15.62% [1] - The revenue growth was driven by strategic focus on core businesses and high-potential sectors [1] Group 2: Market Demand and Growth - The demand for power equipment is steadily increasing both domestically and internationally, driven by global carbon neutrality goals and rising electricity needs from emerging industries [2] - Domestic signed contracts for power transmission and transformation reached 27.3 billion yuan, a year-on-year increase of 14.08%, while international contracts exceeded 900 million USD, growing by 88.10% [2] Group 3: Technological Innovation and Product Development - The company launched 22 new products, with 16 achieving international leading standards, contributing to its competitive edge in the market [8] - The company has successfully developed key equipment such as inverters and flexible direct current converters, with inverter shipments increasing by 40% year-on-year [6][8] Group 4: Sustainable Development and ESG Efforts - The company invested over 400 million yuan in energy management and climate change initiatives, achieving annual energy savings equivalent to 14.48 million tons of standard coal, which reduced carbon emissions by 37.66 million tons [9] - The company has integrated sustainable development into its corporate strategy, enhancing its ESG ratings and establishing a zero-carbon operation center recognized as a best practice case [9] Group 5: Industry Position and Future Outlook - The company is well-positioned to benefit from the ongoing construction of high-voltage transmission lines and the increasing electricity demand projected to grow by 5%-6% annually until 2025 [4] - The company aims to leverage its full industry chain capabilities to capture long-term growth opportunities in both domestic and international markets [4][5]

Core Insights - The company reported a total revenue of 48.401 billion yuan for the first half of 2025, a year-on-year increase of 1.12%, and a net profit attributable to shareholders of 3.184 billion yuan, up 5% year-on-year [1] - The company is focusing on core business areas and enhancing efficiency while actively exploring high-potential sectors to achieve high-quality development despite challenges such as price declines in polysilicon and coal [1] Group 1: Business Performance - The company achieved a total profit of 4.423 billion yuan, reflecting a year-on-year growth of 15.62% [1] - The domestic market for power transmission and transformation signed contracts worth 27.3 billion yuan, a year-on-year increase of nearly 14.08%, while international market contracts exceeded 900 million USD, up 88.10% [2] Group 2: Industry Trends - The global push for "carbon neutrality" and the increasing demand for electricity from emerging industries are driving steady growth in the demand for electrical equipment [2] - The company is leveraging strategic opportunities from the construction of new power systems and expanding international market demand [2] Group 3: Technological Innovation - The company has developed and implemented several innovative technologies, including high-voltage direct current transmission and new products that have achieved international leading standards [8] - The company has invested over 400 million yuan in energy management and climate change initiatives, achieving significant energy savings and reducing carbon emissions [9] Group 4: Sustainable Development - The company is deeply integrating sustainable development concepts into its corporate strategy and operations, enhancing governance effectiveness [9] - The company has established a comprehensive energy and carbon management system, increasing the proportion of green electricity used in production [9]