Core Viewpoint - China's investment in controllable nuclear fusion projects has reached a total scale of 136.2 billion yuan, with the next 3-5 years being a critical bidding window for infrastructure construction [1][7]. Group 1: Investment Background - As of July 22, 2025, China Nuclear Power (601985.SH) announced a planned investment of 1 billion yuan to acquire a 6.65% stake in China Fusion Energy Co., marking an acceleration in the commercialization of nuclear fusion in China [4][7]. - Zhejiang Energy Power (600023.SH) also announced an investment of 751 million yuan for a 5% stake in the same company, further indicating the momentum in the nuclear fusion sector [4][13]. - Currently, there are 14 major controllable nuclear fusion projects under construction in China, with a total investment scale of 136.2 billion yuan [1][7]. Group 2: Key Participants - China Nuclear Power is a core participant, investing 1 billion yuan and holding a 6.65% stake in China Fusion Energy Co., which is under the China National Nuclear Corporation [11][12]. - Zhejiang Energy Power, as a traditional power enterprise, is leveraging its background to promote the commercialization of fusion technology through its 751 million yuan investment [14]. - West Superconducting Technologies (688122) is the only domestic supplier of low-temperature superconducting wire for the ITER project, breaking international monopolies in this technology [15][16]. Group 3: Strategic Significance - The investments by state-owned enterprises respond to national strategic requirements for future industries and aim to solidify their core positions in the nuclear fusion sector [12][14]. - The focus on nuclear fusion aligns with the country's energy transition goals, emphasizing the importance of clean energy development [14].

本报告依据中国资产评估准则编制 天津百利特精电气股份有限公司拟非公开协议转让 所持有的天津百利科技发展有限公司股权 所涉及的天津百利科技发展有限公司 股东全部权益价值 资产评估报告 中水致远评报字[2025]第 110004 号 中水致远资产评估有限公司 二Ｏ二五年六月三十日 | 声 | 明 - 4 - | | --- | --- | | 摘 | 更 ・ | | 正 | 文 - 9 - | | í | 委托人、被评估单位和资产评估委托合同约定的其他资产评估报告使用 | | | 人概况 | | í í | 评估目的 . | | 11 1 | 评估对象和评估范围 . | | 四、 | 价值类型 ………………………………………………………………………………………………………- 19 - | | 五、 | 评估基准日 . | | 六、 | 评估依据 | | 七、 | 评估方法 - 25 - | | 八、 | 资产基础法中各类资产和负债的具体评估方法应用 - 26 - | | 九、 | 评估程序实施过程和情况 . | | | 十、 评估假设………………………………………………………………………………………………………… ...

天津百利科技发展有限公司 2024 年度财务报表审计报告 CAC 津审字[2025]0877 号 中审华会计师事务所（特殊普通合伙） 目 录 | 目 | 录 | 页 次 | | --- | --- | --- | | 一、审计报告 | | 1-3 | | 二、已审财务报表 | | | | 资产负债表 | | 4-5 | | 利润表 | | 6 | | 现金流量表 | | 7 | | 所有者权益变动表 | | 8-9 | | 三、财务报表附注 | | 10-35 | 审计报告 CAC 津审字[2025]0877 号 天津百利科技发展有限公司全体股东： 一、审计意见 我们审计了天津百利科技发展有限公司（以下简称百利科技）财务报表，包 括2024年12月31日的资产负债表， 2024年度的利润表、现金流量表、所有者权 益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制， 公允反映了百利科技2024年12月31日的财务状况以及2024年度的经营成果和现 金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注 册会计师对财务报表 ...

股票简称：百利电气 股票代码：600468 公告编号：2025-029 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： 天津百利特精电气股份有限公司（以下简称"公司"）拟以非 公开协议转让方式向控股股东天津液压机械（集团）有限公司（以下 简称"液压集团"）转让所持有的参股公司天津百利科技发展有限公 司（以下简称"百利科技"）45%股权,交易价格为9,465,248.47元。 本次交易完成后，公司将不再持有百利科技的股权。 本次交易构成关联交易，未构成重大资产重组。 本次关联交易已经公司董事会九届五次会议、监事会九届五次 及2025年第三次独立董事专门会议审议通过。 除本次关联交易外，本年年初至本公告披露日，公司与液压集 团及其一致行动人未发生其他非日常关联交易；过去12个月内，公司 与同一关联人进行的关联交易或与不同关联人进行的相同交易类别 下标的相关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、关联交易概述 天津百利特精电气股份有限公司 关于转让参股公司股权 ...

股票代码：600468 股票简称：百利电气 公告编号：2025-028 天津百利特精电气股份有限公司（以下简称"公司"）董事会于 2025 年 7 月 14 日收到董事长李士骐先生提交的书面辞职报告。李士 骐先生因工作调整原因申请辞去公司董事、董事长、法定代表人、战 略发展委员会主任委员、薪酬与考核委员会委员的职务，辞职后将不 再担任公司任何职务。 一、提前离任的基本情况 | | | | | | 是否继续在 | 是否存在 | | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 | 离任时间 | 原定任期 | 离任原因 | 上市公司及 | 未履行完 | | | | | 到期日 | | 其控股子公 | 毕的公开 | | | | | | | 司任职 | 承诺 | | 李士骐 | 董事会董事、董事 长、法定代表人、 | 2025 年 7 月 | 2028 年 1 | | | | | | 战略发展委员会主 | | | 工作调整 | 否 | 否 | | | | 14 日 | 月 5 日 | | | | | | 任委员、薪酬与考 | | | | | | | | 核 ...

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。 天津百利特精电气股份有限公司（以下简称"公司"）董事会九 届五次会议于2025年7月14日下午14:30在公司以现场和通讯相结合 的方式召开，会议通知于2025年7月10日发出。本次会议应出席董事 七名,实际出席七名，关联董事左小鹏先生、李洲先生、张建新先生 在审议关联交易事项时回避表决。公司监事及高级管理人员参加会 议。经与会董事推举，会议由董事左小鹏先生主持。 本次会议的召集、召开、表决程序符合《公司法》和《公司章程》 等法律、法规及规范性文件的规定。经与会董事讨论，本次会议决议 如下： 股票简称：百利电气 股票代码：600468 公告编号：2025-027 天津百利特精电气股份有限公司 董事会九届五次会议决议公告 特别提示 其他专业委员会成员不变。 同意七票，反对〇票，弃权〇票。 三、审议通过《关于转让参股公司股权的议案》 一、审议通过《关于选举董事长、执行公司事务的董事长、法定 代表人的议案》 因工作调整原因，李士骐先生申请辞去公司董事、董事长、法定 代表人及相关专业委员 ...

Summary of Key Points Core Viewpoint - Tianjin Baile Electric Co., Ltd. announced a share reduction plan by its shareholder, Tianjin Xinhao Investment Development Co., Ltd., which holds 2.23% of the company's total shares. The reduction is due to operational needs and will not significantly impact the company's governance structure or ongoing operations [1][2][6]. Shareholder Holding Situation - As of the announcement date, Tianjin Xinhao Investment holds 24,267,831 shares, representing 2.23% of the total share capital. The total shares held by Xinhao Investment and its concerted actions amount to 630,039,312 shares, or 57.92% of the total [1][4]. Reduction Plan Details - Xinhao Investment plans to reduce its holdings by up to 21,754,706 shares, which is not more than 2% of the total share capital. The reduction will occur through centralized bidding and block trading, with a maximum of 10,877,353 shares to be sold via centralized bidding [2][4]. - The reduction period is set from August 4, 2025, to November 1, 2025. The actual number of shares to be reduced may be adjusted based on corporate actions such as dividends or capital increases [2][4]. Shareholder Background - Xinhao Investment is an indirect controlling shareholder of the company through Tianjin Baile Machinery Equipment Group Co., Ltd. and Tianjin Hydraulic Machinery (Group) Co., Ltd. [1][3]. Compliance with Previous Commitments - The major shareholders, including Xinhao Investment, have previously made commitments not to reduce their holdings for specified periods, which they have adhered to. The current reduction plan is consistent with these prior commitments [5][6].

Group 1 - Yuntian Lifa plans to issue H-shares and list on the Hong Kong Stock Exchange [3] - Aerospace Electromechanical's wholly-owned subsidiary intends to transfer 70% equity of Eschong Korea [4] - Three Gorges Water Conservancy plans to publicly transfer 41.0071% equity of Chongqing Tiantai Energy Group [5] Group 2 - Galaxy Microelectronics intends to invest 310 million yuan in the construction of a high-end integrated circuit device industrialization base [6] - Wanye Enterprises' wholly-owned subsidiary plans to invest 299 million yuan to establish a private equity investment fund [7] - Dailor New Materials will invest 45 million yuan to establish a holding subsidiary [8] Group 3 - Huaxi Securities expects a net profit increase of 1025.19% to 1353.9% year-on-year for the first half of 2025 [10][11] - Guolian Minsheng anticipates a net profit increase of approximately 1183% year-on-year for the first half of 2025 [12] - Gaode Infrared expects a net profit increase of 734.73% to 957.33% year-on-year for the first half of 2025 [13] Group 4 - Tianchen Co. expects a net profit increase of 640% to 786% year-on-year for the first half of 2025 [14] - Shenkai Co. anticipates a net profit increase of 183% to 278% year-on-year for the first half of 2025 [15] - Taishan Petroleum expects a net profit increase of 123% to 173% year-on-year for the first half of 2025 [16] Group 5 - Ruikeda expects a net profit increase of 132.44% to 163.22% year-on-year for the first half of 2025 [17] - Jinkong Electric anticipates a net profit of 120 million to 150 million yuan, turning from loss to profit [18] - Ankai Bus expects a net profit increase of 106.67% to 189.34% year-on-year for the first half of 2025 [19] Group 6 - Yara International expects a net profit increase of 170% to 244% year-on-year for the first half of 2025 [20] - Zhongshun Jierou anticipates a net profit increase of 59.85% to 82.68% year-on-year for the first half of 2025 [21] - Guoan Co. expects a loss of 25.9 million to 36.7 million yuan for the first half of 2025 [22] Group 7 - Huamei Holdings expects a loss of 46.5 million to 60 million yuan for the first half of 2025 [23] - AOC Technology anticipates a loss of 450 million to 490 million yuan for the first half of 2025 [24] - Shangrong Medical expects a loss of 7 million to 9.5 million yuan for the first half of 2025 [25] Group 8 - Hangang Co. expects a net loss of approximately 111 million yuan for the first half of 2025 [26] - Baili Electric's shareholder plans to reduce its stake by no more than 2% [27] - Dream Lily's major shareholder plans to reduce its stake by no more than 0.5% [28]

证券代码：600468 证券简称：百利电气 公告编号：2025-026 天津百利特精电气股份有限公司 股东减持股份计划公告 本公司董事会、全体董事及相关股东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： 股东持股的基本情况：截至本公告披露日，天津市鑫皓投资发 展有限公司（以下简称"鑫皓投资"）持有天津百利特精电气股份有 限公司（以下简称"公司"）无限售条件流通股 24,267,831 股，占公 司总股本的比例为 2.23%。上述股份来源为大宗交易、集中竞价交易 及资本公积金转增股本。鑫皓投资为公司间接控股股东天津百利机械 装备集团有限公司（以下简称"百利装备集团"）及公司控股股东天 津液压机械(集团)有限公司（以下简称"液压集团"）的一致行动人。 鑫皓投资及上述一致行动人合计持有公司股份 630,039,312 股，占公 司总股本的比例为 57.92%。 股东名称 天津市鑫皓投资发展有限公司 股东身份 控股股东、实控人及一致行动人 √是 □否 直接持股 5%以上股东 □是 √否 董事、监事和高级管理人员 □是 √否 其他：无 持股数 ...

Core Viewpoint - The shareholder Xin Hao Investment plans to reduce its stake in Baile Electric by up to 2% of the total share capital, which amounts to a maximum of 21,754,706 shares, due to operational needs [1] Summary by Relevant Sections - **Shareholder Action** - Xin Hao Investment intends to reduce its holdings through centralized bidding and block trading methods [1] - **Reduction Details** - The reduction will not exceed 2% of the company's total share capital, equating to a maximum of 21,754,706 shares [1] - **Implementation Timeline** - The reduction plan will be executed within three months starting from 15 trading days after the announcement date [1]