Group 1 - The board of directors of Beijing Power Source Technology Co., Ltd. held its fourth meeting of the ninth session on November 7, 2025, with all seven directors present and the meeting chaired by Chairman Yang Bing [1] - The board approved a resolution to authorize the general manager's office to have external investment approval authority, allowing investments up to 5 million yuan per transaction and a total of 10 million yuan annually, excluding related transactions [2] - The authorization for external investment is valid from the date of board approval until November 6, 2026 [2] Group 2 - The board also approved a resolution to authorize the general manager's office to dispose of equity in subsidiaries with an investment of less than 5 million yuan, aimed at optimizing asset allocation and improving operational efficiency [4] - This authorization for equity disposal is also valid from the date of board approval until November 6, 2026 [4]

会议通过表决，形成如下决议： 证券代码：600405 证券简称：动力源 编号：2025-100 北京动力源科技股份有限公司 第九届董事会第四次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 北京动力源科技股份有限公司（以下简称"公司"）第九届董事会第四次会 议通知于 2025 年 11 月 5 日通过电子邮件的方式发出，会议于 2025 年 11 月 7 日 10:30 以现场结合通讯表决的方式召开。本次会议应表决董事 7 名，实际表决董 事 7 名，公司高级管理人员列席了会议，会议由公司董事长阳兵先生主持。本次 会议的召开符合《中华人民共和国公司法》及相关法律法规和《北京动力源科技 股份有限公司章程》的规定。 二、董事会会议审议情况 （一）审议通过《关于授权总经理办公会对外投资审批权限的议案》 为了提高公司的经营决策效率，紧抓符合公司战略发展方向的商业机遇，促 进公司战略业务拓展，公司董事会拟授权总经理办公会在单笔不超过 500 万元， 年度累计不超过 1,000 万元的限额内行使 ...

Group 1 - The core point of the article is that Dongli Source (SH 600405) held its ninth board meeting on November 7, 2025, to discuss the authorization of the general manager's investment approval rights [1] - For the year 2024, the revenue composition of Dongli Source is as follows: data communication accounts for 35.2%, power supply for 23.65%, comprehensive energy saving for 15.02%, new energy for 12.7%, and new energy vehicle components for 9.91% [1] - As of the report date, Dongli Source has a market capitalization of 3.6 billion yuan [1]

Group 1 - The company is providing supporting power products for domestic mainstream manufacturers, including Weichai Group, in the SOFC (Solid Oxide Fuel Cell) business [1]

Core Insights - The company has been involved in the fuel cell sector for several years, offering products such as isolated fuel cell DC/DC systems with power coverage from 90kW to 300kW and an overall efficiency of 97%-98% [2] - The company's fuel cell products have been successfully applied in various fields, including rail transportation, ground power generation, marine applications, and heavy-duty trucks [2] - In the SOFC (Solid Oxide Fuel Cell) business, the company provides supporting power products to major domestic manufacturers, including Weichai Group [2]

Core Viewpoint - The article discusses how Nanjing Jianye High-tech Zone is addressing the challenge of transforming scientific research results from laboratories to production lines through a five-level linkage mechanism and the integration of industry, academia, and research [1][5]. Group 1: Five-Level Linkage Mechanism - The five-level linkage mechanism includes city leaders, district leaders, park leaders, departmental connections, and small team promotions, facilitating effective collaboration between enterprises and universities [3][7]. - Jiangsu Xinnet Vision Software Technology Co., Ltd. and Southeast University signed cooperation agreements for technology development and graduate base construction, marking a significant step in industry-academia integration [2][3]. Group 2: Multi-Dimensional Support for Innovation - The Jianye High-tech Zone has implemented various policies to encourage more enterprises to participate in the "Double High Coordination" initiative, including support in carrier supply, financial empowerment, technical services, platform construction, and talent exchange [5][6]. - The zone has established a "Double High Digital Building" in collaboration with multiple universities, adopting a "1+3+N" model to create a comprehensive innovation ecosystem [5]. Group 3: Integration of Four Chains - The integration of the innovation chain, industry chain, capital chain, and talent chain is emphasized as a crucial approach for promoting new industrialization [7]. - The zone has facilitated over 20 enterprise-university connections and 17 technology cooperation projects, reigniting enthusiasm for industry-academia collaboration [7]. Group 4: Future Directions - The Jianye High-tech Zone aims to leverage regional financial and industrial advantages to advance the "Double High Coordination" pilot work, contributing to the establishment of a globally influential industrial technology innovation center in Nanjing [8].

Market Performance - The other power equipment sector increased by 2.48% compared to the previous trading day, with Hailu Heavy Industry leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Stock Performance - Notable stock performances include: - Dingxiang Carbon (002255) with a closing price of 9.82, up 9.97% on a trading volume of 241,900 shares and a turnover of 238 million yuan - Xizi Clean Energy (002534) closed at 17.39, up 8.55% with a trading volume of 391,500 shares and a turnover of 674 million yuan - Luhong Co., Ltd. (300693) closed at 44.50, up 6.38% with a trading volume of 236,500 shares and a turnover of 1.035 billion yuan [1] Capital Flow - The other power equipment sector saw a net inflow of 489 million yuan from main funds, while retail investors experienced a net outflow of 421 million yuan [2] - Key stocks in terms of capital flow include: - Magpow (002851) with a net inflow of 148 million yuan from main funds, but a net outflow of 159 million yuan from retail investors - Hailu Heavy Industry (002255) had a net inflow of 128 million yuan from main funds, but significant outflows from both retail and speculative funds [2]

Core Viewpoint - The company is providing cutting-edge 48V server power supplies for AI computing centers, which are not yet widely adopted in the industry [1] Group 1 - The 48V server power supply is considered a frontier product in the industry [1] - The current state of the industry shows that there has not been large-scale application of this technology [1]

Group 1 - The core point of the news is that Dongli Source (600405.SH) reported its Q3 2025 results, highlighting an increase in institutional investor holdings [1] - As of October 30, 2025, there are 2 institutional investors holding a total of 4.0838 million shares, representing 0.67% of the total share capital [1] - The institutional holding ratio increased by 0.60 percentage points compared to the previous quarter [1] Group 2 - Five public funds were disclosed in this period, including Zhongzheng 2000, Southern Zhongzheng 2000 ETF, Ping An Zhongzheng 2000 Enhanced Strategy ETF, Jiashi Zhongzheng 2000 ETF, and Guotai Zhongzheng 2000 ETF [1]

Core Viewpoint - The company, Beijing Power Source Technology Co., Ltd., has released its quarterly report, ensuring the accuracy and completeness of the financial information presented, and confirming that there are no false records or significant omissions [2][3]. Financial Data Summary - The third-quarter financial statements have not been audited [3]. - The report includes major accounting data and financial indicators, with all figures presented in Renminbi [3]. - The company has confirmed that there are no non-recurring gains or losses that are significant enough to be reported [4]. Shareholder Information - The report includes details about the total number of common shareholders and the top ten shareholders' holdings [5]. - There are no changes reported in the share lending situation of major shareholders [6]. Other Important Information - The company has not applied new accounting standards or interpretations that would affect the financial statements for the current reporting period [7].