双良节能系统股份有限公司 章 程 （2025 年 8 月修订） | 第一章 | 总则 - | | --- | --- | | 第二章 | 经营宗旨和范围 - | | 第三章 股 | 们 - | | 第一节 | 股份发行 | | 第二节 | 股份增减和回购 | | 第三节 | 股份转让 | | 第四章 股东利股东会 - | | | 第一节 | 股东 | | 第二节 | 控股股东和实际控制人 | | 第三节 | 股东会的一般规定 | | 第四节 | 股东会的召集 - | | 第五节 | 股东会的提案与通知 - | | 第六节 | 股东会的召开 | | 第七节 | 股东会的表决和决议 - | | 第五章 董事和董事会 - | | | 第一节 | 董事的一般规定 - | | 第二节 | 董事会 ------------------------------------------------------------------------------------------------------------------------------26 | | 第三节 | 独立董事 - | | 第四节 董事会专门委员会 - ...

双良节能系统股份有限公司 董事会审计委员会工作细则 （2025年8月修订） 第一章 总则 第一条 为强化董事会决策功能，做到事前审计、专业审计，确保董事会 对经理层的有效监督，完善公司治理结构，根据《中华人民共和国公司法》、 《中华人民共和国证券法》、《上市公司治理准则》、《上海证券交易所股票 上市规则》、《上海证券交易所上市公司自律监管指引第 1 号——规范运作》 、《公司章程》及其他有关规定，公司特设立董事会审计委员会，并制定本实 施细则。 第二条 董事会审计委员会是董事会按照股东会决议设立的专门工作机构 ，主要负责公司内、外部审计的沟通、监督和核查工作。 第二章 人员组成 第三条 审计委员会成员由三名董事组成，独立董事过半数，委员中有一 名独立董事为专业会计人士，审计委员会的成员应当为不在公司担任高级管理 人员的董事。 第四条 审计委员会委员由董事长、二分之一以上独立董事或者全体董事 的三分之一提名，并由董事会选举产生。 审计委员会成员应当具备胜任工作职责的专业知识、工作经验和良好的职 业操守，保证足够的时间和精力履行委员会的工作职责，勤勉尽责，切实有效 地监督、评估上市公司内外部审计工作，促进上市公司 ...

双良节能系统股份有限公司 股东会议事规则 （2025 年 8 月修订） 第一章 总 则 第一条 为维护公司、股东及债权人的合法权益，规范公司股东会的组织和行为， 提高股东会议事效率，保证股东会程序及决议内容的合法有效性，根据《中 华人民共和国公司法》《上市公司股东会规则》《双良节能系统股份有限 公司章程》（下称"《公司章程》"）以及其他相关法律、法规的规定， 并结合公司实际情况，制订本议事规则（下称"本规则"）。 第二章 股东会的一般规定 1 第二条 股东会性质:股东会是公司的权力机构，依法行使职权。 第三条 股东会依法行使下列职权: （一）选举和更换董事，决定有关董事的报酬事项； （二）审议批准董事会的报告； （三）审议批准公司的利润分配方案和弥补亏损方案； （四）对公司增加或者减少注册资本作出决议； （五）对发行公司债券作出决议； （六）对公司合并、分立、解散、清算或者变更公司形式作出决议； （七）修改本章程； （八）对公司聘用、解聘承办公司审计业务的会计师事务所作出决议； （九）审议批准本规则第四条规定的担保事项； （十）审议公司在 1 年内购买、出售重大资产超过公司最近一期经审计总 资产 30%的事项 ...

双良节能系统股份有限公司 董事会议事规则 （2025 年 8 月修订） 第一条 宗旨 为了进一步规范本公司董事会的议事方式和决策程序，促使董事和董事会 有效地履行其职责，提高董事会规范运作和科学决策水平，根据《公司法》、 《证券法》、《上市公司治理准则》、《上海证券交易所上市公司自律监管指 引第 1 号——规范运作》和《上海证券交易所股票上市规则》等有关规定， 制订本规则。 第二条 董事会秘书办公室 董事会下设董事会秘书办公室,处理董事会日常事务。 董事会秘书兼任董事会秘书办公室负责人,保管董事会印章。 第三条 定期会议 董事会会议分为定期会议和临时会议。 董事会每年应当至少在上下两个半年度各召开一次定期会议。 第四条 定期会议的提案 在发出召开董事会定期会议的通知前,董事会秘书办公室应当充分征求各 董事的意见,初步形成会议提案后交董事长拟定。 董事长在拟定提案前,应当视需要征求总经理和其他高级管理人员的意见。 1 第五条 临时会议 有下列情形之一的,董事会应当召开临时会议: 第六条 临时会议的提议程序 按照前条规定提议召开董事会临时会议的,应当通过董事会秘书办公室或 者直接向董事长提交经提议人签字(盖章)的 ...

Core Viewpoint - The company, Shuangliang Energy, is facing significant operational challenges despite announcing a 2 billion yuan capital increase plan for its subsidiaries, which may be a desperate attempt to survive in a declining market [6][7][19]. Group 1: Capital Increase and Operational Challenges - On August 21, Shuangliang Energy's temporary shareholders' meeting approved a capital increase of up to 2 billion yuan for its subsidiaries in Baotou, aimed at enhancing their capital strength for future business development [6][7]. - The company is currently experiencing a production capacity utilization rate of around 50%, with significant layoffs and a high debt ratio exceeding 80% [6][11][14]. - The capital increase is the second within a year, following a 1.3 billion yuan increase in November of the previous year, indicating ongoing financial distress [11]. Group 2: Production and Market Conditions - The production capacity of Shuangliang Energy's subsidiaries has been significantly reduced, with reports of a 50% decrease in capacity for the third-phase project [9][10]. - The company has been forced to maintain operations despite low order volumes, leading to a situation where products are produced but remain unsold in warehouses [9][10]. - The overall market demand for photovoltaic products has declined since the second half of 2023, resulting in a competitive environment characterized by price undercutting [13][17]. Group 3: Financial Health and Industry Comparison - Shuangliang Energy's financial health is concerning, with an asset-liability ratio of 82.77% as of the end of 2024, marking the first loss in its history at 2.134 billion yuan [14][16]. - The company's revenue for 2024 is projected at 9.103 billion yuan for its silicon material subsidiary and 2.186 billion yuan for its other subsidiary, both facing significant operational losses [14]. - In comparison to peers like TCL Zhonghuan and Longi Green Energy, Shuangliang Energy's financial metrics reveal a weaker position, with a much lower cash reserve of only 490 million yuan against over 120 billion yuan for its competitors [16][18]. Group 4: Industry Outlook and Strategic Implications - The photovoltaic industry is undergoing a significant transformation, with potential changes in demand that could further challenge manufacturing companies like Shuangliang Energy [17]. - The company's decision to increase capital may reflect a survival instinct rather than a strategic move, as the industry faces a critical phase of competition and potential exits [19]. - The capital injection may provide temporary relief but does not guarantee improved competitiveness in the long term [19].

Core Viewpoint - The solar industry is facing significant challenges, with companies like Shuangliang Energy proposing a 2 billion yuan capital increase despite low capacity utilization and high debt levels, raising questions about the sustainability of such moves in a declining market [2][10][22] Company Situation - Shuangliang Energy's board approved a capital increase plan of up to 2 billion yuan for its subsidiaries in Baotou, aimed at strengthening their capital base for future business development [2][10] - The company's actual operational situation reveals a stark contrast, with capacity utilization around 50%, significant layoffs, and a debt ratio exceeding 80% [2][10][13] - The subsidiaries, Shuangliang Silicon Materials and Hengli Crystal Silicon, are experiencing severe financial strain, with both companies reporting losses and high operational costs [14][15] Market Conditions - The solar market has entered a phase of oversupply, leading to reduced demand and lower prices, which has adversely affected Shuangliang Energy's operational performance [12][22] - The company has faced a drastic decline in production capacity, with reports indicating that the third-phase project operates at only half its previous capacity [7][9] Financial Health - Shuangliang Energy's debt levels are alarmingly high, with an asset-liability ratio of 82.77% as of the end of 2024, indicating a precarious financial position [13][19] - The company has been forced to increase capital multiple times, with the latest round being the second within a year, highlighting ongoing liquidity issues [10][16] - Comparatively, other industry players maintain healthier financial metrics, with asset-liability ratios between 58% and 64%, underscoring Shuangliang's vulnerability [19] Industry Dynamics - The solar manufacturing sector is characterized by intense competition, with companies reluctant to exit the market despite financial difficulties [17][22] - Future demand for solar products may face significant changes due to market reforms and reduced construction of large solar bases, posing additional risks for manufacturers like Shuangliang Energy [22]

Core Viewpoint - The solar industry is facing significant challenges, with companies like Shuangliang Energy struggling with low capacity utilization, high debt levels, and operational losses, leading to a controversial 20 billion yuan capital increase plan aimed at enhancing liquidity and operational capacity [1][9][20]. Group 1: Company Operations and Financial Health - Shuangliang Energy's recent capital increase plan of up to 20 billion yuan aims to strengthen the financial position of its subsidiaries in Inner Mongolia [2][9]. - The company's production capacity has been severely reduced, with utilization rates around 50%, and significant layoffs have occurred since last year [5][8]. - The subsidiaries, Shuangliang Silicon Materials and Hengli Crystalline Silicon, are core to Shuangliang Energy's solar product output, yet they are currently facing operational difficulties and financial strain [2][10]. Group 2: Debt and Losses - Shuangliang Energy's debt ratio has reached alarming levels, exceeding 80%, indicating a precarious financial situation [12][14]. - The company reported a loss of 21.34 billion yuan for the first time since its listing, with projections of further losses in the upcoming financial reports [12][20]. - The operational losses are compounded by high production costs, with revenues from its subsidiaries failing to cover expenses, leading to a "bleeding" operational state [11][12]. Group 3: Industry Context and Competitive Position - The solar manufacturing sector is currently experiencing intense competition and a supply-demand imbalance, with many companies reluctant to exit the market despite financial difficulties [20]. - Shuangliang Energy's financial metrics, including a liquidity ratio of 0.63 and a quick ratio of 0.54, are the lowest among its peers, highlighting its weak financial position [18][19]. - The overall industry is undergoing a significant transformation, with potential changes in demand for solar products that could further challenge companies like Shuangliang Energy [20].

Group 1 - The core stock price of Shuangliang Energy closed at 6.55 yuan on August 22, reflecting a 0.77% increase from the previous trading day [1] - The stock experienced a rapid rebound, with a more than 2% increase within 5 minutes at 10:15 AM, reaching a price of 6.46 yuan and a trading volume of 239 million yuan [1] - The company's main business includes energy-saving and water-saving systems, as well as new energy systems, with key products such as lithium bromide chillers, air-cooled systems, and heat exchangers [1] Group 2 - Shuangliang Energy's products are widely used in various sectors including power, chemicals, metallurgy, and data centers [1] - On August 22, the net inflow of main funds was 25.54 million yuan, with a cumulative net inflow of 84.31 million yuan over the past five days [1]

证券代码：600481 证券简称：双良节能 公告编号：2025-047 转债代码：110095 转债简称：双良转债 双良节能系统股份有限公司 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： ? 本次会议是否有否决议案：无 二、 议案审议情况 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 8 月 21 日 (二)股东大会召开的地点：江苏省无锡市江阴市西利路 88 号双良节能系统股份 有限公司五楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 份总数的比例（%） 47.8143 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，副董事长缪志强先生主持了会议。会议采 用现场投票与网络投票相结合的表决方式。本次会议的召集、召开及表决方式均 符合《中华人民共和国公司法》及《公司章程》的有关规定。本次会议所做的决 议合法、有效。 (五)公司董事、监事和董事会秘书的出席情况 先生、孙玉麟先生、独立董事沈鸿烈先生因公务未能出席 ...

| 证券代码：600481 | 证券简称：双良节能 | 公告编号：2025-047 | | --- | --- | --- | | 转债代码：110095 | 转债简称：双良转债 | | 双良节能系统股份有限公司 2025年第三次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 8 月 21 日 (二)股东大会召开的地点：江苏省无锡市江阴市西利路 88 号双良节能系统股份 有限公司五楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 2,078 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 895,930,384 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 47.8143 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持 ...