股票简称：平高电气 股票代码：600312 编号：2025—032 南平高电气股份有限公司关于接受控股股东以委托贷款方式拨付国有资本经营预算 资金暨关联交易的公告》。 特此公告。 河南平高电气股份有限公司 第九届董事会第十次会议决议公告 二、会议以 3 票赞成，0 票反对，0 票弃权审议通过了《关于公司接受控股股东 以委托贷款方式拨付国有资本经营预算资金暨关联交易的议案》： 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。独 立董事认为公司接受控股股东以委托贷款方式拨付国有资本经营预算资金，是根据 《中央企业国有资本经营预算支出执行监督管理办法》(国资发资本规〔2024〕71 号) 等文件要求落实国有资本权益，用以提升公司研发、创新等综合实力。本次委托贷 款利率由公司与关联人协商确定，不高于同期的贷款市场报价利率（LPR）。遵循公 平合理和市场化的原则，定价公允，不会对公司独立性以及当期经营业绩产生重大 影响，未损害公司及其股东，特别是中小股东和非关联股东的利益。 具体内容详见公司披露于上海证券交易所网站（http:/ ...

Financial Performance - Operating revenue for the third quarter was CNY 2,739,996,668.61, a decrease of 3.63% compared to the same period last year[4]. - Total profit for the quarter reached CNY 398,678,365.75, reflecting a growth of 3.05% year-on-year[4]. - Net profit attributable to shareholders was CNY 317,529,584.37, down by 1.83% compared to the same quarter last year[4]. - Basic earnings per share for the quarter stood at CNY 0.2340, a decline of 1.85% year-on-year[5]. - The total operating revenue for the first three quarters of 2025 reached RMB 8,435,559,451.35, an increase of 6.97% compared to RMB 7,885,452,176.80 in the same period of 2024[19]. - The company's net profit for the first three quarters of 2025 reached CNY 1,057,568,252.90, an increase from CNY 921,993,536.96 in the same period of 2024, representing a growth of approximately 14.7%[20]. - Operating profit for the first three quarters of 2025 was CNY 1,219,236,943.46, compared to CNY 1,054,812,206.35 in 2024, indicating an increase of about 15.6%[20]. - Total revenue from operating activities for the first three quarters of 2025 was CNY 9,790,962,718.11, up from CNY 7,969,001,940.77 in 2024, reflecting a growth of approximately 22.8%[24]. - The company reported a total comprehensive income of CNY 1,058,756,075.48 for the first three quarters of 2025, compared to CNY 919,569,871.92 in 2024, marking an increase of about 15.1%[21]. - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 0.7239, up from CNY 0.6316 in 2024, representing an increase of approximately 14.6%[21]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was CNY 130,491,890.33, a significant decrease of 85.54%[4][8]. - The company's cash and cash equivalents as of September 30, 2025, were RMB 6,942,460,315.38, down from RMB 7,129,573,672.96 at the end of 2024[14]. - The company experienced a net cash outflow of CNY 242,477,488.90 in the first three quarters of 2025, contrasting with a net inflow of CNY 269,824,121.57 in the same period of 2024[27]. - Investment activities resulted in a net cash outflow of CNY 104,129,211.23 in the first three quarters of 2025, compared to a net outflow of CNY 61,764,530.44 in 2024[26]. - The company’s cash and cash equivalents at the end of the third quarter of 2025 stood at CNY 6,834,793,133.41, down from CNY 5,192,073,298.09 in 2024[27]. Assets and Liabilities - Total assets increased to CNY 22,724,506,441.64, representing a growth of 4.52% from the end of the previous year[5]. - The total assets of the company as of September 30, 2025, amounted to RMB 22,724,506,441.64, compared to RMB 21,742,586,040.70 at the end of 2024, indicating an increase of 4.52%[17]. - The total liabilities as of September 30, 2025, were RMB 10,841,442,833.76, slightly up from RMB 10,777,329,728.09 at the end of 2024[17]. - The company’s total equity increased to RMB 11,883,063,607.88 as of September 30, 2025, from RMB 10,965,256,312.61 at the end of 2024, reflecting a growth of 8.35%[17]. Expenses and Costs - The total operating costs for the first three quarters of 2025 were RMB 7,249,725,379.44, up from RMB 6,870,468,403.70 in 2024, reflecting a growth of 5.52%[19]. - Research and development expenses increased significantly to RMB 376,044,957.44 in 2025 from RMB 297,849,666.07 in 2024, marking a rise of 26.19%[19]. - The company adjusted its financial statements to reflect a reclassification of quality assurance expenses amounting to CNY 10,749,689.55 from selling expenses to operating costs[21]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 64,059[10]. - Shareholder equity attributable to the parent company rose to CNY 11,378,305,112.45, an increase of 8.66% compared to the previous year-end[5]. Other Notable Events - The company sold a 20% stake in Henan Pinggao Clean Energy Co., Ltd., recovering an investment cost and income of RMB 2,476,600, which will no longer hold equity in the company[12]. - The company reported a decrease in accounts receivable from RMB 6,361,217,453.86 in 2024 to RMB 6,509,465,443.86 in 2025, indicating a rise of 2.33%[14]. - The company experienced a significant increase in procurement payments, impacting cash flow negatively[8].

Core Viewpoint - Pinggao Electric (600312) reported a decline in third-quarter revenue and net profit, while showing growth in the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company's third-quarter revenue was 2.74 billion yuan, a year-on-year decrease of 3.63% [1] - Net profit for the third quarter was 318 million yuan, down 1.83% year-on-year [1] - For the first three quarters of 2025, total revenue reached 8.436 billion yuan, reflecting a year-on-year increase of 6.98% [1] - Net profit for the first three quarters was 982 million yuan, representing a year-on-year growth of 14.62% [1] - Basic earnings per share stood at 0.7239 yuan [1]

Core Viewpoint - The company reported a decline in revenue and net profit for the third quarter of 2025, while showing growth in the first three quarters of the year [1] Financial Performance - In Q3 2025, the company achieved revenue of 2.74 billion yuan, a year-on-year decrease of 3.63% [1] - The net profit attributable to shareholders for Q3 2025 was 318 million yuan, down 1.83% year-on-year [1] - Basic earnings per share for Q3 2025 stood at 0.234 yuan [1] - For the first three quarters of 2025, the company reported revenue of 8.436 billion yuan, reflecting a year-on-year growth of 6.98% [1] - The net profit attributable to shareholders for the first three quarters was 982 million yuan, an increase of 14.62% year-on-year [1] - Basic earnings per share for the first three quarters was 0.7239 yuan [1]

Core Viewpoint - Pinggao Electric (600312.SH) reported a revenue of 8.436 billion yuan for the first three quarters, reflecting a year-on-year growth of 6.98% [1] - The net profit attributable to shareholders reached 982 million yuan, marking a year-on-year increase of 14.62% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 977 million yuan, showing a year-on-year growth of 15.13% [1] - Basic earnings per share stood at 0.7239 yuan [1] Financial Performance - Revenue for the first three quarters: 8.436 billion yuan, up 6.98% year-on-year [1] - Net profit attributable to shareholders: 982 million yuan, up 14.62% year-on-year [1] - Net profit after deducting non-recurring gains and losses: 977 million yuan, up 15.13% year-on-year [1] - Basic earnings per share: 0.7239 yuan [1]

Group 1 - The core viewpoint of the article indicates that Pinggao Electric reported a decline in revenue and net profit for the third quarter, while showing growth in both metrics for the first three quarters of the year [1] Group 2 - In the third quarter, the company's revenue was 2.74 billion yuan, a decrease of 3.63% compared to the previous year [1] - The net profit for the third quarter was 318 million yuan, down 1.83% year-on-year [1] - For the first three quarters, the total revenue reached 8.436 billion yuan, reflecting a growth of 6.98% [1] - The net profit for the first three quarters was 982 million yuan, which represents an increase of 14.62% [1]

Core Viewpoint - The report by Zhiyan Consulting highlights a significant decline in the production of electrical instruments and meters in China, with a projected decrease in output for 2025 compared to previous years [1]. Industry Summary - According to data from the National Bureau of Statistics, the production of electrical instruments and meters in China for August 2025 is expected to be 21.77 million units, representing a year-on-year decrease of 12.2% [1]. - From January to August 2025, the cumulative production of electrical instruments and meters in China is reported to be 178.886 million units, showing a cumulative decline of 8.2% [1]. - The report provides a comprehensive analysis of the supply and demand forecast for the Chinese instrument and meter market from 2025 to 2031, indicating potential challenges in the industry [1]. Company Summary - Listed companies mentioned in the report include Weisheng Information (688100), Linyang Energy (601222), Samsung Medical (601567), Haixing Electric (603556), XJ Electric (000400), Pinggao Electric (600312), Guodian Nanzi (600268), *ST Huayi (600290), Dongfang Electronics (000682), and Kelon Electronics (002121) [1].

股票代码：600312 股票简称：平高电气 编号：临 2025-031 河南平高电气股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 重要内容提示： ● 会议召开时间：2025年10月28日（星期二）9:00-10:00 ● 会议召开地点：上海证券交易所路演中心（网址：http://roadshow.sseinfo.com） ● 会议召开方式：上证路演中心网络互动 ● 投资者可于2025年10月27日（星期一）16：00前登录上证路演中心网站首页点击"提问 预征集"栏目或通过公司邮箱pinggao@pg.cee-group.cn进行提问，公司将在说明会上对投资 者普遍关注的问题进行回答。 河南平高电气股份有限公司（以下简称"公司"）将于 2025 年 10 月 22 日在上海证券交易 所网站（www.sse.com.cn）披露公司 2025 年第三季度报告。为了便于广大投资者更全面深入 地了解公司 2025 年前三季度经营成果、财务状况，公司计划于 2025 年 10 ...

Core Insights - The article highlights the advantages of plant-based insulating oil transformers, including high flash points, biodegradability, and low losses, which significantly reduce fire and explosion risks, making them suitable for environmentally sensitive areas [1][11] - The market demand for plant-based insulating oil transformers is expected to rise, with projected sales reaching 49 million kVA and a market size of 23.791 billion yuan in 2024 [1][10] Overview - Plant-based insulating oil transformers utilize plant oil as the main insulating and cooling medium, offering a safer and more environmentally friendly alternative to traditional mineral oil transformers [2][4] Market Policies - The industry is supported by various national policies aimed at promoting the development of power equipment, including the "Power Equipment Industry Stabilization Growth Work Plan (2023-2024)" and guidelines for green manufacturing [5][6] Industry Chain - The upstream of the plant-based insulating oil transformer industry includes suppliers of raw materials such as plant oils, copper, iron core materials, and insulation materials, while the downstream focuses on the power market for transmission and distribution [8][9] Current Development - The plant-based insulating oil transformer market is characterized by a significant share of low-voltage transformers (below 110kV), which account for approximately 69.53% of the market [1][12] Competitive Landscape - The industry is concentrated, with leading companies dominating the market, including TBEA, China XD Electric, and others, which are actively involved in the development and promotion of plant-based insulating oil transformers [14][16] Future Trends - Future developments in the industry are expected to focus on enhancing the performance of plant-based insulating oils, incorporating smart and modular designs, and improving production processes to reduce costs and increase competitiveness against traditional mineral oil transformers [18][19]

证券之星消息，10月13日，平高电气（600312）融资买入8135.86万元，融资偿还7867.17万元，融资净 买入268.69万元，融资余额8.34亿元，近3个交易日已连续净买入累计1.83亿元，近20个交易日中有14个 交易日出现融资净买入。 | 交易日 | 融资净买入(元) | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | | 2025-10-13 | 268.69万 | 8.34亿 | 3.46% | | 2025-10-10 | 3404.53万 | 8.31亿 | 3.46% | | 2025-10-09 | 1.46 Z | 7.956 | 3.32% | | 2025-09-30 | 3187.45万 | 6.49亿 | 2.85% | | 2025-09-29 | 5274.13万 | 6.17亿 | 2.75% | 融券方面，当日融券卖出2400.0股，融券偿还4700.0股，融券净买入2300.0股，融券余量31.05万股。 融资融券余额8.39亿元，较昨日上涨0.32%。 | 交易日 | 两融余额(元) | 余额变动(元) | 变动幅度 ...