特变电工股份有限公司 2025 年第三次临时股东大会会议资料 新疆·昌吉 2025 年 9 月 3 日 特变电工股份有限公司 （二）审议议案： 特变电工股份有限公司 目 录 | 1、特变电工股份有限公司 2025 年第三次临时股东大会议程 1 | | | --- | --- | | 2、公司符合向不特定对象发行可转换公司债券条件的议案 2 | | | 3、公司向不特定对象发行可转换公司债券的方案 3 | | | 4、公司向不特定对象发行可转换公司债券预案 | 12 | | 5、公司向不特定对象发行可转换公司债券方案的论证分析报告 | 13 | | 6、公司向不特定对象发行可转换公司债券募集资金使用可行性分析报告 ... | 14 | | 7、公司向不特定对象发行可转换公司债券摊薄即期回报与填补措施及相关主体 | | | 承诺的议案 | 15 | | 8、公司未来三年股东回报规划（2025 年-2027 年） | 16 | | 9、公司可转换公司债券持有人会议规则 | 17 | | 10、公司无需编制前次募集资金使用情况报告的议案 | 18 | | 11、提请股东大会授权董事会或董事会授权人士全权办理本次向不特 ...

截至2025年8月28日 13:01，中证新能源指数上涨0.70%，成分股捷佳伟创上涨17.38%，正泰电器10cm涨停，璞泰来上涨7.57%，固德威上涨5.30%，帝尔激 光上涨5.19%。新能源ETF(159875)上涨0.58%。 流动性方面，新能源ETF盘中换手3.43%，成交3149.51万元。拉长时间看，截至8月27日，新能源ETF近1周日均成交6581.66万元。规模方面，新能源ETF近1 周规模增长1833.44万元。 近日，国家能源局会同国家发改委推进电力市场建设、发挥电价政策作用，以促进新型储能调节作用，具体包括：明确新型储能等主体平等市场地位并推动 其公平参与市场；2025 年底实现省级电力现货市场基本全覆盖，完善辅助服务市场；深化电价改革，推动新能源与新型储能入市。 银河证券指出，《2025 年能源工作指导意见》提出要统筹新能源发展和消纳体系建设等重点问题研究，创新新能源价格机制和消纳方式，推动新能源全面 参与市场，实现新能源由保障性收购向市场化消纳转变，预计政策持续刺激下新能源消纳和电价问题有望迎来边际改善。 数据显示，截至2025年7月31日，中证新能源指数前十大权重股分别为宁德时 ...

Group 1 - The photovoltaic industry is experiencing a steady advancement in reversing internal competition, with a focus on short-term rebounds and long-term investment opportunities due to low valuations [1] - As of August 28, 2025, the CSI Photovoltaic Industry Index (931151) increased by 0.87%, with notable stock performances including Zhengtai Electric (601877) up 9.16% and Meichang Co., Ltd. (300861) up 8.50% [1] - The Photovoltaic ETF (516180) rose by 1.06%, with a recent price of 0.67 yuan, and has accumulated a 1.39% increase over the past week [1] Group 2 - As of July 31, 2025, the top ten weighted stocks in the CSI Photovoltaic Industry Index (931151) include Yangguang Electric (300274) and Longi Green Energy (601012), collectively accounting for 56.16% of the index [2]

Group 1 - The stock price of TBEA is reported at 14.09 yuan, down 0.45 yuan or 3.09% from the previous trading day, with a trading volume of 2.043 billion yuan [1] - TBEA's main business includes transformers, wires and cables, and new energy, with products widely used in power systems, coal, and oil sectors [1] - The company has a complete industrial chain layout and holds an important position in the manufacturing of power transmission and transformation equipment [1] Group 2 - According to the latest semi-annual report, TBEA achieved a profit of over 1 billion yuan in the first half of 2025, ranking among the top in profitability within the photovoltaic industry [1] - On August 27, the net outflow of main funds was 317 million yuan, with a cumulative net outflow of 270 million yuan over the past five trading days [1]

Company Overview - TBEA Co., Ltd. is located in Changji City, Xinjiang Uygur Autonomous Region, established on February 26, 1993, and listed on June 18, 1997. The company primarily engages in power transmission and transformation, renewable energy, and energy-related businesses [1][2]. Financial Performance - As of March 31, 2025, TBEA reported operating revenue of 23.383 billion yuan, a year-on-year decrease of 0.77%, and a net profit attributable to shareholders of 1.6 billion yuan, down 19.74% year-on-year [2]. - The company has cumulatively distributed 15.118 billion yuan in dividends since its A-share listing, with 6.591 billion yuan distributed over the past three years [3]. Stock Performance - On August 27, TBEA's stock price fell by 2.06%, trading at 14.24 yuan per share, with a total market capitalization of 71.952 billion yuan. The stock has increased by 14.01% year-to-date, with a 5-day increase of 5.72%, a 20-day increase of 2.89%, and a 60-day increase of 24.37% [1]. - The stock experienced a net outflow of 225 million yuan in principal funds, with significant selling pressure observed [1]. Shareholder Structure - As of March 31, 2025, TBEA had 334,000 shareholders, a decrease of 0.44% from the previous period, with an average of 15,127 circulating shares per shareholder, an increase of 0.45% [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited and Huatai-PB CSI 300 ETF, with both reducing their holdings compared to the previous period [3]. Business Segments - TBEA's main business revenue composition includes: electrical equipment products (22.87%), coal products (19.70%), renewable energy products and engineering (18.95%), wire and cable products (16.05%), aluminum electronic materials and aluminum alloy products (5.73%), power generation (5.73%), transmission and transformation engineering (5.04%), and others [1]. Industry Classification - TBEA is classified under the power equipment sector, specifically in the transmission and transformation equipment category, with involvement in concepts such as polysilicon, western development, ultra-supercritical power generation, DC transmission, and transformers [2].

Core Viewpoint - The solar cell industry in China is experiencing significant growth, with production figures indicating a robust increase in output and a positive outlook for the coming years [1] Industry Summary - As of June 2025, China's solar cell (photovoltaic cell) production reached 67.39 million kilowatts, marking a year-on-year growth of 24.1% [1] - Cumulatively, from January to June 2025, the total production of solar cells in China was 370.19 million kilowatts, reflecting an 18.2% increase compared to the previous year [1] - The report by Zhiyan Consulting outlines the competitive landscape and investment recommendations for the solar cell industry in China from 2025 to 2031 [1] Company Summary - Key listed companies in the solar energy sector include Longi Green Energy (601012), Tongwei Co., Ltd. (600438), Sungrow Power Supply Co., Ltd. (300274), JA Solar Technology Co., Ltd. (002459), Trina Solar Limited (688599), TBEA Co., Ltd. (600089), Chint Electric Co., Ltd. (601877), and TCL Zhonghuan Renewable Energy Technology Co., Ltd. (002129) [1]

截至14:45，成分股仅做展示使用，不构成投资建议。 消息面上，8月19日，多部门召开光伏产业座谈会。会议强调以下四个重点：1）加强产业调控；2）遏制低价无序竞争；3）规范产品质量；4） 支持行业自律。 8月25日，A股市场延续震荡上行！截至14:56，同类费率最低档的光伏龙头ETF(516290)放量上涨超2.19%， 成交近5000万元。 中证光伏产业指数(931151)强势上涨1.81%，成分股罗博特科(300757)盘中涨停，大全能源(688303)上涨11.55%，捷佳伟创(300724)上涨8.09%， 德业股份(605117)，阳光电源(300274)等个股涨幅居前，隆基绿能、特变电工等涨幅居前。 | 序号 | 代码 | 名称 | 申万一级行业 | 涨跌幅 | 成交额 | 估算权重▼ | | --- | --- | --- | --- | --- | --- | --- | | 1 | 300274 | 阳光电源 | 电力设备 | 4.02% | 68.40 Z | 12.63% | | 2 | 601012 | 隆基绿能 | 电力设备 | 1.21% | 29.49亿 | 9.18% | | ...

上市企业：隆基绿能（601012）,通威股份（600438）,阳光电源（300274）,晶澳科技（002459）,天合光 能（688599）,特变电工（600089）,正泰电器（601877）,TCL中环（002129）,林洋能源（601222）,上 能电气（300827） 根据国家统计局数据显示：2025年6月中国太阳能发电量产量为501亿千瓦时，同比增长18.3%；2025年 1-6月中国太阳能发电量累计产量为2666.9亿千瓦时，累计增长20%。 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 数据来源：国家统计局，智研咨询整理 相关报告：智研咨询发布的《2025-2031年中国太阳能发电站行业市场行情监测及投资前景研判报告》 ...

Group 1 - The national energy administration reports that from January to July, the national electricity market transaction volume increased by 3.2% year-on-year, with green electricity transaction volume significantly rising by 43.2%, indicating a sustained increase in clean energy demand [1] - As of August 25, the carbon neutrality ETF fund (159885.SZ) rose by 1.72%, and its associated index, the domestic low-carbon index (000977.CSI), increased by 1.70%. Key constituent stocks such as Sunshine Power rose by 3.80%, Yangtze Power by 1.58%, Robotech by 15.78%, Daqo Energy by 14.59%, and Goldwind Technology by 10.04% [1] - Research from brokerage firms indicates that Indonesia has proposed a large-scale solar storage plan, with the development restrictions on photovoltaics gradually easing. The microgrid solar storage system in Indonesia has significant growth potential, with an estimated overall investment scale reaching trillions of RMB, likely boosting the distributed photovoltaic and energy storage industries [1][2] - Changjiang Securities focuses on the continuous growth trend of high-voltage equipment, with multi-variety exports reaching new highs, reflecting structural opportunities in the power grid equipment sector [1]

（原标题：电力设备行业8月21日资金流向日报） | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 600580 卧龙电驱 | | -10.00 | 19.23 | -126169.30 | | 300274 阳光电源 | | -2.93 | 3.13 | -57123.56 | | 601727 上海电气 | | -1.96 | 2.24 | -39089.12 | | 002245 蔚蓝锂芯 | | -4.16 | 12.72 | -35274.21 | | 301511 德福科技 | | -8.08 | 12.42 | -28751.55 | | 002074 国轩高科 | | -3.10 | 3.54 | -27731.41 | | 300432 富临精工 | | -3.31 | 5.24 | -24639.83 | | 300409 道氏技术 | | -5.06 | 11.94 | -19722.56 | | 300153 科泰电源 | | -7.03 | 16.25 | -18819.93 ...