Market Overview - The net outflow of main funds in the power equipment sector was 604 million yuan, while retail investors saw a net inflow of 697 million yuan on the same day [2][3] - The overall performance of the power equipment sector showed a slight decline of 0.13% compared to the previous trading day [1] Stock Performance - Hongyuan Co., Ltd. led the decline in the power equipment sector with a drop of 12.69%, closing at 36.67 yuan [2] - Songsheng Co., Ltd. experienced the highest increase in the sector, rising by 11.64% to close at 30.12 yuan [1] - Other notable performers included RIFENG Co., Ltd. with a 9.99% increase and TBEA Co., Ltd. with a 5.57% increase [1][2] Trading Volume and Value - The trading volume for Songsheng Co., Ltd. reached 155,600 hands with a transaction value of 459 million yuan [1] - Hongyuan Co., Ltd. had a trading volume of 189,900 hands and a transaction value of 714 million yuan [2] - The total transaction value for the power equipment sector was significant, with several companies reporting values exceeding 1 billion yuan [1][2] Fund Flow Analysis - TBEA Co., Ltd. had a main fund inflow of 370 million yuan, while retail investors showed a net outflow of 199 million yuan [3] - The fund flow data indicates a mixed sentiment among different investor types, with retail investors showing a preference for certain stocks in the sector [3]

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 2025-053 特变电工股份有限公司 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。 本公告所载2025年半年度主要财务数据为初步核算数据，未经会计师事务所 审计，具体数据以公司2025年半年度的定期报告中披露的数据为准，提请投资者 注意投资风险。 一、2025年半年度主要财务数据和指标 单位：亿元 | 项目 | 上年同期 本报告期 | | | | 增减变动幅度（％） | | --- | --- | --- | --- | --- | --- | | | 调整后 | | 调整前 | | | | 营业总收入 | 484.01 | 478.63 | 478.42 | | 1.12 | | 营业利润 | 43.84 | 37.46 | 37.50 | | 17.04 | | 利润总额 | 44.23 | 38.25 | 38.29 | | 15.62 | | 归属于上市公司股东 | | | | | | | 的净利润 | | | | | | | 归属于上 ...

Summary of High Voltage Direct Current (HVDC) Conference Call Industry Overview - The HVDC industry is entering a new construction cycle with the approval of two major projects: the Tibet to Guangdong-Hong Kong-Macao and the Inner Mongolia to Beijing-Tianjin-Hebei lines, with a target of four approvals for the year 2025 [1][3] - Six ongoing DC projects are nearing completion, with two expected to be operational by mid to late 2026, providing support for future HVDC construction [1][5] Key Points and Arguments - **Upcoming Projects**: Several projects are expected to enter the approval phase in the second half of 2025, including the Datarat to Inner Mongolia and Zhejiang HVDC ring network [6] - **Market Demand**: The total bidding amount for HVDC equipment in the first half of 2025 was 2.48 billion yuan, with an anticipated total of 71 billion yuan in bids for the second half, including approximately 16.6 billion yuan for converter valves [7] - **Unstarted Projects**: There are numerous unstarted projects from the 14th Five-Year Plan, which are expected to create significant demand in the early stages of the 15th Five-Year Plan [8] - **Back-to-Back Projects**: Six back-to-back DC projects have been bid on, with a total capacity of approximately 3GW, indicating a positive trend for DC project development [4][9] Additional Important Content - **Market Share**: As of 2023, major players in the HVDC equipment market include China XD Group with a 26% share in converter transformers, and State Grid Corporation with nearly 50% in converter valve systems [12] - **Future Expectations**: The overall sentiment for the second half of 2025 is optimistic, with expectations of improved stock performance for companies involved in HVDC projects, as they are likely to benefit from the release of new orders [13]

证券日报网讯 8月20日晚间，特变电工发布公告称，2025年上半年，公司实现营业总收入484.01亿元， 同比增长1.12%；实现利润总额44.23亿元，同比增长15.62%；实现归属于上市公司股东的净利润31.84 亿元，同比增长5.00%。截至2025年6月30日，公司总资产2，207.99亿元，较期初增长6.17%；归属于上 市公司股东的所有者权益717.88亿元，较期初增长6.35%。 （编辑 何成浩） ...

在"宁电入湘"工程的受端衡阳换流站，就有14台由国内企业特变电工自主研制生产的高端换流变压器， 这也是我国首批实现独立设计、独立采购、独立制造的高端换流变压器。 据介绍，在研制过程中，特变电工从制造精度、安装标准及环境适应性等20多个方面对产品进行了技术 提升。将网线圈焊点从传统的450多个减至42个，焊点操作可靠性提升10倍，使得最终设备结构更紧 实，抗短路能力大幅增强。通过铜磁复合屏蔽、油路优化等技术实现低损耗设计，将行业平均40K的温 升控制在了35K以内，极大地延长了设备使用寿命。 中新网北京8月20日电 (记者 王梦瑶)8月20日，宁夏至湖南±800千伏特高压直流输电工程(以下简称"宁电 入湘"工程)全面投产送电。该工程额定最大送电能力800万千瓦，每年可向湖南输送电量360亿至400亿 千瓦时，"超级工程"的安全运行离不开背后"超级装备"的硬核保障。 "宁电入湘"工程始于宁夏回族自治区中卫市中宁换流站，一路途经甘肃、陕西、重庆、湖北四地，最终 抵达湖南省衡阳市衡阳换流站，线路全长1616千米，总投资达281亿元。由于工程线路跨度大，且沿途 地理环境复杂多样，施工过程中面临着诸多严峻挑战。 高端换流 ...

特变电工（SH 600089，收盘价：13.47元）8月20日晚间发布2025年半年度业绩快报，营业收入484.01 亿元，同比增加1.12%；归属于上市公司股东的净利润31.84亿元，同比增加5%；基本每股收益0.6342 元，同比增加5%。 （文章来源：每日经济新闻） ...

"作为特高压设备中的'高精尖'产品，高端换流变压器是特高压直流输电工程的'核心心脏'，在电力跨区 域传输中承担着交直流转换'枢纽'和电压与功率'调节器'的作用。"特变电工相关负责人介绍，在"宁电 入湘"工程的受端衡阳换流站，高端换流变负责将高压直流电逆变为交流电，匹配衡阳本地电网电压等 级，实现与用户端的无缝衔接，承担着绿电转化的核心使命。 据介绍，±800千伏高端换流变压器，每台高达14.8米(约四五层楼)，重达570吨，长26.5米，宽8.4米，拥 有完全自主知识产权。这14台"巨无霸"，像威风凛凛的将军，保证了电力源源不断地供给湖南。 业内人士指出，"宁电入湘"工程全线竣工后，不仅将满足湖南用电需求、优化能源结构，更推动宁夏清 洁能源大规模外送，实现跨区域能源优化配置。 人民网北京8月20日电 (记者夏晓伦)8月20日，我国首条"沙戈荒"风电光伏大基地外送特高压通道 ——"宁电入湘"工程实现整体竣工，正式具备800万千瓦满负荷送电能力。该工程构建起新能源供给消 纳体系样板，每年可向湖南输送超360亿千瓦时清洁电力。 据了解，"宁电入湘"工程始于宁夏回族自治区中卫市中宁换流站，一路途经甘肃、陕西、重庆、湖 ...

TBEA Co., Ltd. 2025 Semi-Annual Performance Express Report [Key Financial Data and Indicators](index=1&type=section&id=Item%201.%20Key%20Financial%20Data%20and%20Indicators) In the first half of 2025, the company achieved stable growth in total operating revenue, increasing by 1.12%, with operating profit and total profit seeing significant increases of 17.04% and 15.62% respectively, while net profit attributable to shareholders slowed to 5.00% and net profit excluding non-recurring gains and losses decreased by 5.30% year-on-year, indicating pressure on core profitability, though total assets and shareholders' equity maintained steady growth Key Financial Data for H1 2025 (Unit: Billion CNY) | Item | Current Period | Prior Period (Adjusted) | Change (%) | | :--- | :--- | :--- | :--- | | **Total Operating Revenue** | 484.01 | 478.63 | 1.12% | | **Operating Profit** | 43.84 | 37.46 | 17.04% | | **Total Profit** | 44.23 | 38.25 | 15.62% | | **Net Profit Attributable to Shareholders of the Listed Company** | 31.84 | 30.32 | 5.00% | | **Net Profit Attributable to Shareholders Excluding Non-Recurring Items** | 27.87 | 29.44 | -5.30% | | **Basic Earnings Per Share (CNY)** | 0.6342 | 0.6040 | 5.00% | | **Total Assets (Period-end)** | 2,207.99 | 2,079.68 (Period-start) | 6.17% | | **Equity Attributable to Shareholders (Period-end)** | 717.88 | 674.99 (Period-start) | 6.35% | - The company retrospectively adjusted prior period financial statement data due to a business combination under common control[3](index=3&type=chunk) - When calculating indicators such as earnings per share, the total share capital has excluded **32,543,837 shares** cumulatively repurchased[4](index=4&type=chunk) [Explanation of Operating Performance and Financial Position](index=2&type=section&id=Item%202.%20Explanation%20of%20Operating%20Performance%20and%20Financial%20Position) The company leveraged the synergistic advantages of its four major industries—power transmission and transformation, new energy, new materials, and energy—to successfully navigate challenges from declining polysilicon and coal prices, achieving stable overall performance, and plans to further deepen its industrial layout, expand domestic and international markets, and foster new growth points through major projects like coal-to-gas initiatives - The company achieved stable development by leveraging synergistic growth across its four major industries, seizing opportunities in new power system construction and international markets, and overcoming adverse impacts from declining polysilicon and coal prices[5](index=5&type=chunk) - Company strategic outlook: Adhere to synergistic development across four major industries, vigorously expand domestic and international markets, and build future growth poles by accelerating major project construction, such as the **2 billion Nm³/year coal-to-gas project**[5](index=5&type=chunk) [Risk Warning](index=2&type=section&id=Item%203.%20Risk%20Warning) The report emphasizes that the financial data presented in this performance express report are preliminary and unaudited, with final figures subject to the company's officially disclosed 2025 semi-annual report, cautioning investors about associated risks - The financial data contained in this announcement are preliminary and unaudited by an accounting firm, with specific figures subject to the company's 2025 semi-annual periodic report[6](index=6&type=chunk)

格隆汇8月20日丨特变电工(600089.SH)公告称，2025年上半年实现营业总收入484.01亿元，同比增长 1.12%；实现归属于上市公司股东的净利润31.84亿元，同比增长5.00%。 ...

2025年上半年，公司充分发挥四大产业协同发展的优势，积极抢抓国家新型电力系统建设及国际市场需 求增长等重大战略机遇，通过实施精益管理，大力对各类经营业务实施存量调优和增量引领，克服了多 晶硅价格和煤炭价格下行等不利影响，实现了整体稳健发展。随着国家及行业内卷治理工作的加速推 进，公司发展的外部环境将更趋有利。公司坚持输变电高端装备制造、新能源、新材料和能源四大产业 协同发展战略定力，大力开拓国内外市场，全面深化创新、提质、降本、增效等关键措施，着力打造更 为强劲的内在竞争力。同时，公司加快推动20亿Nm3/年煤制气等重大项目建设，构建未来增长极，持 续提升公司盈利能力。 格隆汇8月20日丨特变电工(600089.SH)公布半年度业绩快报，2025年上半年，公司实现营业总收入 484.01亿元，同比增长1.12%；实现利润总额44.23亿元，同比增长15.62%；实现归属于上市公司股东的 净利润31.84亿元，同比增长5.00%。截至2025年6月30日，公司总资产2,207.99亿元,较期初增长6.17%； 归属于上市公司股东的所有者权益717.88亿元，较期初增长6.35%。 ...