股票简称：平高电气 股票代码：600312 编号：2025一045 河南平高电气股份有限公司董事会 2025年12月2日 股票简称：平高电气 股票代码：600312 编号：2025一046 河南平高电气股份有限公司 第九届董事会第十二次会议决议公告 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。 河南平高电气股份有限公司（以下简称"公司"）第九届董事会第十二次会议于2025年11月24日以电子邮 件、手机短信发出会议通知，并于2025年12月1日以通讯方式召开，会议应到董事9人，实到9人。本次 会议的召集、召开符合《公司法》和《公司章程》的规定。会议经过有效表决，形成以下决议： 一、会议以3票赞成，0票反对，0票弃权审议通过了《关于全资子公司清算注销参股公司暨关联交易的 议案》： 本议案已经公司独立董事专门会议审议通过并同意提交董事会审议。公司关联董事孙继强、张国跃、刘 刚、赵建宾、樊占峰、刘克民回避了对本议案的表决。具体内容详见公司披露于上海证券交易所网站 （http://www.sse.com.cn）的《河南平高电气股份有 ...

Group 1 - The core point of the article is that Pinggao Electric (SH 600312) announced a board meeting to discuss the liquidation of a subsidiary and related transactions [1] - For the year 2024, the revenue composition of Pinggao Electric is 99.25% from the power transmission and transformation equipment manufacturing industry and 0.75% from other businesses [1] - As of the report date, the market capitalization of Pinggao Electric is 23 billion yuan [1]

股票简称：平高电气 股票代码：600312 编号：2025—047 河南平高电气股份有限公司 关于全资子公司清算注销参股公司 暨关联交易的公告 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。 特别风险提示： ● 天津平高易电科技有限公司（以下简称"平高易电"）是河南平高电气股份有 限公司（以下简称"公司"）全资子公司天津平高智能电气有限公司（以下简称"天 津平高"）的参股公司，持股比例 49.22%。因市场竞争激烈，经营指标未达规划目标， 为进一步优化资源配置，提高运营管理效率，拟清算注销平高易电。 ● 本次交易构成关联交易，不构成重大资产重组。 ● 本次交易事项已经公司 2025 年第五次独立董事专门会议、第九届董事会第十 二次会议、第九届监事会第十七次会议审议通过，关联董事回避表决。 ● 截至本次关联交易止，过去 12 个月公司与中国电气装备及其下属子公司发生 的关联交易未达到公司最近一期经审计净资产绝对值 5%以上，本次交易无需提交公 司股东大会审议。 一、关联交易事项概述 平高易电由公司全资子公司天津平高和平高集团有限 ...

股票简称：平高电气 股票代码：600312 编号：2025—046 同意公司全资子公司天津平高智能电气有限公司参股公司天津平高易电科技有 限公司清算注销。 特此公告。 河南平高电气股份有限公司监事会 河南平高电气股份有限公司 第九届监事会第十七次会议决议公告 本公司监事会及全体监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。 河南平高电气股份有限公司（以下简称"公司"）第九届监事会第十七次会议于 2025 年 11 月 24 日以电子邮件、手机短信方式发出会议通知，并于 2025 年 12 月 1 日以通讯方式召开，会议应到监事 3 人，实到 3 人。本次会议的召集、召开符合《公 司法》和《公司章程》的规定。会议经过有效表决，形成以下决议： 一、会议以 3 票赞成，0 票反对，0 票弃权审议通过了《关于全资子公司清算注 销参股公司暨关联交易的议案》 2025 年 12 月 2 日 ...

股票简称：平高电气 股票代码：600312 编号：2025—045 河南平高电气股份有限公司董事会 2025 年 12 月 2 日 1 河南平高电气股份有限公司 第九届董事会第十二次会议决议公告 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。 河南平高电气股份有限公司（以下简称"公司"）第九届董事会第十二次会议于 2025 年 11 月 24 日以电子邮件、手机短信发出会议通知，并于 2025 年 12 月 1 日以 通讯方式召开，会议应到董事 9 人，实到 9 人。本次会议的召集、召开符合《公司 法》和《公司章程》的规定。会议经过有效表决，形成以下决议： 一、会议以 3 票赞成，0 票反对，0 票弃权审议通过了《关于全资子公司清算注 销参股公司暨关联交易的议案》： 本议案已经公司独立董事专门会议审议通过并同意提交董事会审议。公司关联 董事孙继强、张国跃、刘刚、赵建宾、樊占峰、刘克民回避了对本议案的表决。具 体内容详见公司披露于上海证券交易所网站（http://www.sse.com.cn）的《河南平 高电气股份有限公司关于全 ...

Group 1 - The core viewpoint of the article highlights a decline in the production of electrical instruments and meters in China, with a reported decrease of 1.4% year-on-year in September 2025 and a cumulative decline of 7.2% from January to September 2025 [1][1][1] Group 2 - The article lists several listed companies in the electrical instruments and meters sector, including Weisheng Information (688100), Linyang Energy (601222), Samsung Medical (601567), Haixing Electric Power (603556), XJ Electric (000400), Pinggao Electric (600312), Guodian Nanzi (600268), *ST Huayi (600290), Dongfang Electronics (000682), and Kelun Electronics (002121) [1][1][1] - According to the National Bureau of Statistics, the production of electrical instruments and meters in China reached 22.72 million units in September 2025 [1][1][1] - The report referenced is the "2026-2032 China Instrument and Meter Market Supply and Demand Forecast and Future Development Trend Report" published by Zhiyan Consulting [1][1][1]

Key Points - ST立方's stock will be subject to delisting risk warning and will be suspended [1] - Tongde Chemical has been listed as a dishonest executor [1] - Shengke Nano's subsidiary plans to invest approximately 500 million yuan in the "Qingdao Testing and Analysis Capability Improvement Project" [1] - Pinggao Electric has won a bid for a 773 million yuan project from the State Grid [1] - Bright Dairy intends to acquire 40% of Xiaoxiniu for about 500 million yuan [1] - Jianbang Co. plans to repurchase shares worth 15 million to 30 million yuan [1] - China Jushi's controlling shareholder plans to increase its stake by 550 million to 1.1 billion yuan [1] - Xinyuan Intelligent Manufacturing plans to raise no more than 140 million yuan through a private placement [1] - Tianfeng Securities is under investigation by the CSRC for suspected information disclosure violations [1][2]

Group 1 - SMIC announced the termination of the sale of its stake in SMIC Ningbo due to failure to reach an agreement within the expected timeframe, retaining a 14.832% stake post-termination, with no significant impact on financial status [2] - Chaozhuo Aerospace's actual controller will change to Hubei State-owned Assets Supervision and Administration Commission, with stock resuming trading on December 1 [2] - ST Lifan faces potential forced delisting due to false disclosures in its 2021-2023 annual reports, with a total false revenue of 592 million yuan, representing 50.91% of the reported revenue for those years [3] Group 2 - Lijun Holdings' subsidiary signed a contract worth approximately 57.6 million USD for high-pressure roller mills, accounting for 52.53% of the audited consolidated revenue for 2024, expected to positively impact future performance [3] - Sanjiang Shopping's second-largest shareholder, Alibaba Zeta, reduced its stake by 5.4768 million shares, decreasing its holding from 30% to 29% [4] - Tianfeng Securities is under investigation by the CSRC for suspected information disclosure violations and illegal financing [5] Group 3 - China Jushi's major shareholder, Zhenstone Group, plans to increase its stake by no less than 550 million yuan and no more than 1.1 billion yuan [6] - Helun Zhe's major shareholder received a notice of investigation for suspected information disclosure violations, which does not affect the company's operations [7] - Yongtai Energy's actual controller also received a notice of investigation for similar violations, with no impact on the company's operations [8] Group 4 - Wuhantian Source's major shareholder, Konka Group, plans to transfer 9.83% of its shares to China Resources Asset Management [9] - Pinggao Electric won a bid for a State Grid project worth approximately 773 million yuan [9] - Zhejiang Longsheng is collaborating with a private equity fund to establish a venture capital partnership [9]

Key Points - Guizhou Moutai elected Chen Hua as the chairman of the fourth board of directors and plans to repurchase shares between RMB 1.5 billion and RMB 3 billion [1] - Tianfeng Securities is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure and illegal financing [1] Share Buybacks - Demai Technology raised the upper limit for share repurchase to RMB 45 per share [5] - Jianbang Technology plans to repurchase shares worth between RMB 15 million and RMB 30 million [5] - Huayuan Holdings intends to repurchase shares worth between RMB 30 million and RMB 60 million [5] Major Investments - Jinling Pharmaceutical plans to invest RMB 893 million in hospital expansion projects [7] - Dongfang Mingzhu intends to invest approximately RMB 500 million to establish a partnership and acquire part of the equity of New H3C [7] - Chang'an Automobile aims to establish a robotics company to develop innovative products and solutions [7] Mergers and Acquisitions - Kaizhong Co. plans to acquire 60% of Anhui Tuosheng's equity, with stock resuming trading on December 1 [7] - Youa Co. has resumed the review process for issuing shares and cash to purchase assets [7] - Jiasheng Technology intends to acquire controlling interest in Shudun Information Technology Co., with stock continuing to be suspended [7] Financing Activities - Shenzhen Energy plans to apply for a public bond issuance with a total scale not exceeding RMB 20 billion [7] - Huakong Saige has terminated its specific object stock issuance [7]

Core Viewpoint - Pinggao Electric has secured significant contracts from the State Grid Corporation, indicating its strong market position and technological capabilities, which are expected to provide stable cash flow and performance growth in the coming years [1][3]. Group 1: Company Performance - Pinggao Electric and its subsidiaries won contracts totaling approximately 773 million yuan, accounting for 6.24% of the projected revenue for 2024 [1]. - The company has repeatedly won bids for State Grid procurement projects in 2025, with a total contract value of 7.592 billion yuan for various products including switchgear and circuit breakers [1]. - The company's R&D expenses for the first three quarters of this year reached 376 million yuan, showing a continuous increase [2]. Group 2: Industry Context - The investment in power engineering reached 721.8 billion yuan in the first ten months of 2025, with a year-on-year growth of 0.7%, while grid engineering investment was 482.4 billion yuan, growing by 7.2% [2]. - The cumulative procurement for State Grid's transmission and transformation equipment reached 78.747 billion yuan, a year-on-year increase of 19.6% [2]. - The State Grid plans to invest over 240 billion yuan in R&D during the 14th Five-Year Plan period, indicating a strong commitment to technological advancement and energy system reform [2].