Core Points - The world's first 800 kV large-capacity circuit breaker has been successfully developed, marking a significant achievement in electrical engineering [1][2] - The new circuit breaker addresses the issue of excessive short-circuit current in the 750 kV grid, which is crucial for the development of large-scale renewable energy integration and ultra-high voltage transmission [1] Group 1 - The 800 kV/80 kA circuit breaker was developed by a collaboration of several organizations, including State Grid Shaanxi Electric Power Company and Henan Pinggao Electric Co., Ltd [1] - The product has passed technical appraisal by the China Electrotechnical Society, confirming its international leading performance parameters [2] - The circuit breaker is designed to be compatible with existing equipment dimensions, allowing for direct replacement and upgrades, which will significantly enhance the efficiency and cost-effectiveness of grid capacity expansion [2] Group 2 - The development involved innovative simulation models and parameter measurement platforms, leading to the creation of a dual-break arc extinguishing chamber [1] - A new graphene contact material was invented to meet the 20-cycle electrical life requirement, addressing the challenge of arc erosion at 80 kA [1] - The operating mechanism of the circuit breaker features "high-speed breaking + good buffering," overcoming technical challenges in optimizing large-capacity breaking and operating characteristics [1]

"新产品性能参数国际领先，并且与现有设备尺寸完全一致，可直接替换升级，将大幅提升电网增容改 造的效率和经济性。"国网陕西省电力有限公司首席专家盛勇说，该断路器投运后，将进一步提升西北 电网应对极端短路电流的能力，支撑能源集群外送电网网架安全稳定运行，为我国主干电网的安全提供 支撑。 （文章来源：人民日报） 由国网陕西省电力有限公司联合河南平高电气股份有限公司、西安交通大学、中国电力科学研究院、中 国电气装备集团科学技术研究院有限公司等单位研制的800千伏/80千安大容量断路器，近期通过中国电 机工程学会的新产品技术鉴定，标志着世界首台800千伏大容量断路器研制成功。 随着西北电网750千伏主网加速建设、大规模新能源接入及特高压外送跨越式发展，750千伏电网短路电 流超标问题逐渐凸显。国网陕西省电力有限公司瞄准电网需求，2024年依托国家电网科技项目启动研 发，团队创新建立仿真计算模型和参数测量平台，通过多轮计算和试验的迭代优化，研制出800千伏/80 千安双断口灭弧室。同时，发明研制出耐电烧蚀的新型石墨烯触头材料，满足800千伏/80千安断路器20 次电寿命要求，解决开关触头耐受80千安电弧烧蚀难题；研制出满 ...

Core Viewpoint - Pinggao Electric experienced a decline in stock price, with a current trading price of 16.59 yuan per share and a market capitalization of 22.511 billion yuan, reflecting a year-to-date drop of 12.04% [1][2] Company Overview - Pinggao Electric, established on July 12, 1999, and listed on February 21, 2001, is located in Pingdingshan, Henan Province. The company specializes in the research, design, manufacturing, sales, installation, testing, maintenance, and service of power transmission and distribution equipment and its core components [2] - The core business includes the development and manufacturing of medium, high, ultra-high, and extra-high voltage AC and DC switchgear. The revenue composition is as follows: high voltage segment 57.30%, distribution network segment 28.03%, operation and maintenance 11.13%, international segment 2.93%, and other business income 0.61% [2] Financial Performance - For the period from January to September 2025, Pinggao Electric achieved operating revenue of 8.436 billion yuan, representing a year-on-year growth of 6.98%. The net profit attributable to the parent company was 982 million yuan, with a year-on-year increase of 14.62% [2] - The company has distributed a total of 3.788 billion yuan in dividends since its A-share listing, with 1.01 billion yuan distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders of Pinggao Electric was 64,100, an increase of 0.63% from the previous period. The average circulating shares per person decreased by 0.63% to 21,182 shares [2] - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 57.8484 million shares, a decrease of 25.1349 million shares from the previous period [3]

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]