Investment Rating - The report assigns a "Buy-A" investment rating to the company with a target price of 12.89 CNY, while the current stock price is 10.58 CNY [5]. Core Insights - The company, Guodian Nanzi, has experienced rapid growth in net profit for two consecutive years, driven by its focus on power automation products and expansion into new business areas [2][4]. - The company is well-positioned to benefit from the construction of a new power system in China, with significant investments in power grid and power plant automation expected to drive revenue growth [3][9]. - The company has a diverse industrial system, including power grid automation, power plant automation, rail transit automation, information and safety technology, and power electronics [2][24]. Summary by Sections 1. Company Overview - Guodian Nanzi, established in 1940, is a pioneer in power automation and was the first high-tech company listed on the Shanghai Stock Exchange in 1999 [2][14]. - The company is controlled by the State-owned Assets Supervision and Administration Commission through Huadian Group, which holds a 49.2% stake [2][15]. 2. Business Performance - The company's revenue from power grid automation reached 3.826 billion CNY in 2024, accounting for 42.37% of total revenue, while the power plant and industrial automation segment generated 1.516 billion CNY, representing 16.79% of total revenue [2][24]. - The company has achieved a five-year compound annual growth rate (CAGR) of 15.74% in revenue and 49.89% in net profit [2][27]. 3. Market Opportunities - The demand for power automation products is expected to rise due to the ongoing transformation of the power supply and demand landscape in China, with significant investments in power grid and power plant projects [3][35]. - The company is actively developing solutions for virtual power plants and grid-type energy storage, which are anticipated to create new growth opportunities [4][24]. 4. Financial Projections - The report forecasts net profits of 378 million CNY, 437 million CNY, and 513 million CNY for 2025, 2026, and 2027, respectively, with growth rates of 10.90%, 15.60%, and 17.44% [9][10]. - The company is expected to maintain a stable gross margin of around 23% in the coming years, with potential for improvement as new high-margin products are launched [30][28].

由江苏省电机工程学会、南京工程学院主办的第四届江苏电力"碳达峰碳中和"技术研讨会，在南京市鼓楼区召开。本次活动以"AI赋能电力转型"为主题， 聚焦电力领域科技创新与绿色转型，来自学界的专家与行业精英围绕新型电力系统优化、智慧能源管理等方向展开深入研讨和产学研对接。 图为研讨会现场 活动现场。东南大学徐一骏教授等学界专家，分别聚焦量子计算在新型电力系统中的应用等智慧能源实践主题深度解析；出门问问总经理孙鹏飞分享大模 型应用发展前瞻，描绘"人工智能+"能源产业深度融合路径；蔚来汽车张宁总监围绕电动汽车充换电创新实践，为交通能源协同转型提供可行方案。 鼓楼区正致力于绿色低碳产业的高质量发展 创新答卷亮眼筑牢产业发展根基 作为能源电力产业重要的创新策源地，鼓楼区依托科教资源优势，以学术交流为纽带，联动科研力量与行业龙头，搭建起高效务实的技术对接平台。 今年以来，辖区内企业与科研院所接连交出亮眼的创新答卷。华能江苏7项技术成果斩获美国匹兹堡国际发明展金奖，覆盖多类发电领域，充分彰显国际 竞争力；国电南自（600268）与华为签署战略合作协议，共建人工智能技术联合创新中心，加速电力行业数字化升级；朗坤智慧"人工智能+"能 ...

Group 1 - Zhuolang Intelligent's subsidiary plans to increase capital by 900 million yuan to its wholly-owned subsidiary in Xinjiang [1] - Zhenhua Heavy Industry signed a contract worth 1.149 billion yuan with Guangzhou Salvage Bureau for a deep-water crane ship construction project [2] - Ugreen Technology intends to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its global strategy [3] Group 2 - Guangsheng Nonferrous Metals will change its stock name to Zhongxi Rare Metals starting December 31, 2025 [4] - China Electric Research proposed a cash dividend of 2.5 yuan per 10 shares for the first three quarters of 2025 [5] - Chaoyan Co. is establishing a fund with professional investment institutions, aiming to raise 1 billion yuan [6] Group 3 - Silk Road Vision's subsidiary plans to sell 8.5% of Ruijun Technology for 52.7 million yuan [7] - Longgao Co.'s actual controller is transferring 4.37% of the investment development group's equity for 398 million yuan [8] - Weiteou signed a strategic cooperation agreement with Huaruixin Energy to develop new materials and applications [9][10] Group 4 - Annuoqi decided to terminate the investment in a 50,000-ton dye intermediate project due to market changes, with a total investment of 421 million yuan [12] - Akoli's subsidiary has entered trial production for a project with an annual capacity of 20,000 tons of polyether amine [13] - Ningbo Construction's subsidiary signed a construction contract worth 451 million yuan for a comprehensive utility tunnel project [14] Group 5 - Zhejiang Rongtai and Weichuang Electric plan to establish a joint venture in Thailand for R&D and production of mechatronic components [15] - Jiuzhoutong's subsidiary received a drug registration certificate for isopropazine injection [16] - Huaqin Technology's subsidiary signed a daily operation contract worth 392 million yuan [17] Group 6 - ST Meichen completed the sale of 100% equity in Hainan Meichen Ecological Development Co., Ltd. [18] - Pulite's LCP film products have begun mass production for a leading customer in the consumer electronics industry [19][20] - Nanjing Public Utility's major shareholder transferred 7.61% of the company's shares for 300 million yuan [21] Group 7 - Solar Energy terminated the investment in a 150 MW distributed photovoltaic project due to increased investment risks [22] - Yuntian Lifa won a 122 million yuan project for AI development in Longgang [23] - Changchun High-tech's subsidiary received acceptance for a clinical trial application for GenSci141 ointment [24] Group 8 - Changfei Optical Fiber's major shareholder completed a share reduction plan, selling 1.1 million shares for approximately 104.5 million yuan [25] - Sandam Membrane plans to apply for a comprehensive credit limit of up to 100 million yuan for 2026 [26] - Aisecurity received a government subsidy of 3.4611 million yuan [27] Group 9 - Stone Technology's H-share issuance has received approval from the China Securities Regulatory Commission [28] - Hongxing Development's subsidiary plans to suspend production to comply with national hazardous chemical relocation policies [29] - Guodian Nanzi's vice president and chief engineer resigned [30] Group 10 - Jianghe Group's subsidiary won a bid for a city renovation project in Haikou worth approximately 112 million yuan [31] - Gaotie Electric's subsidiary won a bid for a railway project worth 59.0317 million yuan [32] - Huicheng Co. plans to introduce a new partner to its major shareholder [33] Group 11 - Pumen Technology's folic acid testing kit received a medical device registration certificate [34] - Hai Xin Co.'s vitamin B6 injection passed the consistency evaluation for generic drugs [35] - Taiji Group's shareholder plans to merge with its subsidiary [36] Group 12 - Shengyi Electronics adjusted the maximum repurchase price to no more than 144.36 yuan per share [37]

（记者 贾运可） 每经头条（nbdtoutiao）——对话马斯克脑机接口"一号受试者"：大脑植入芯片23个月，我正重新夺回 人生的独立 每经AI快讯，国电南自12月26日晚间发布公告称，国电南京自动化股份有限公司董事会于2025年12月 26日收到公司副总经理、总工程师蒋衍君先生的书面辞职报告，蒋衍君先生因工作变动原因申请辞去公 司副总经理、总工程师职务。辞职后，蒋衍君先生不再担任公司及控股子公司任何职务。蒋衍君先生不 存在未履行完毕的公开承诺，已按照公司离职管理制度完成交接工作。 ...

格隆汇12月26日丨国电南自(600268.SH)公布，公司董事会于2025年12月26日收到公司副总经理、总工 程师蒋衍君先生的书面辞职报告，蒋衍君先生因工作变动原因申请辞去公司副总经理、总工程师职务。 辞职后，蒋衍君先生不再担任公司及控股子公司任何职务。 ...

证券代码：600268 股票简称：国电南自 公告编号：临 2025-064 国电南京自动化股份有限公司 关于公司副总经理、总工程师辞职的公告 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。 截至本公告披露日，蒋衍君先生因公司实施限制性股票激励计划持有公司股 票 134,207 股（其中：已解除限售股份 88,576 股，未解除限售股份 45,631 股）， 辞职后，蒋衍君先生仍将继续按照中国证监会、上海证券交易所及本公司对董事 和高级管理人员减持股份相关的法律、法规、规范性文件对其股份进行管理。 公司董事会对蒋衍君先生任职期间勤勉尽责，为公司的健康发展所做出的贡 献表示衷心地感谢。 - 1 - 特此公告。 国电南京自动化股份有限公司（以下简称"公司"）董事会于 2025 年 12 月 26 日收到公司副总经理、总工程师蒋衍君先生的书面辞职报告，蒋衍君先生 因工作变动原因申请辞去公司副总经理、总工程师职务。辞职后，蒋衍君先生不 再担任公司及控股子公司任何职务。 | | | | | | 是否继 续在上 | 具体 | 是否存 在未履 ...

南财智讯12月26日电，国电南自公告，公司董事会于2025年12月26日收到公司副总经理、总工程师蒋衍 君先生的书面辞职报告，蒋衍君先生因工作变动原因申请辞去公司副总经理、总工程师职务。辞职后， 蒋衍君先生不再担任公司及控股子公司任何职务。 ...

Group 1 - The core viewpoint of the news is that Guodian Nanzi's stock has shown significant performance, with a year-to-date increase of 61.25%, despite a recent decline of 3.55% over the last five trading days [1] - As of December 22, Guodian Nanzi's stock price was 10.61 yuan per share, with a market capitalization of 10.778 billion yuan and a trading volume of 1.70 billion yuan [1] - The company has seen a net inflow of main funds amounting to 5.4371 million yuan, with large orders contributing significantly to the buying and selling activities [1] Group 2 - Guodian Nanzi, established on September 22, 1999, specializes in power transmission and transformation protection, control, and automation systems, among other related services [2] - The company's main business revenue composition includes: grid automation (47.55%), system integration (18.68%), power plant automation (14.99%), and other segments [2] - As of September 30, the number of shareholders increased to 61,900, with an average of 16,334 circulating shares per person, reflecting a decrease of 41.47% [3] Group 3 - For the period from January to September 2025, Guodian Nanzi achieved operating revenue of 6.308 billion yuan, representing a year-on-year growth of 13.89%, and a net profit attributable to shareholders of 211 million yuan, up 100.86% year-on-year [3] - The company has distributed a total of 1.044 billion yuan in dividends since its A-share listing, with 268 million yuan distributed in the last three years [4] - As of September 30, 2025, the second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 55.7078 million shares, while several funds have adjusted their holdings in the company [4]

黔源电力公告，公司控股子公司贵州北盘江电力股份有限公司"水电新能源领域典型场景人工智能技术 研究与工程示范"项目采用单一来源方式进行采购，确定国电南自和华电电科院为中标单位。关联交易 金额分别为2818万元和1162万元，合计3980万元。国电南自和华电电科院均为公司控股股东中国华电集 团有限公司的控股子公司。本次关联交易已经公司董事会审议通过，关联董事均已回避表决。 ...

（文章来源：证券日报） 证券日报网讯 12月11日，国电南自在互动平台回答投资者提问时表示，公司主要为商业航天领域的变 电所、变电站提供数字式线路保护测控装置、变压器保护测控装置、继电保护及变电站自动化系统产品 等电气二次设备，主要用于保障航天技术研究院用电，为航天基地及航天发射场等提供电力保障。 ...