证券日报网讯 9月1日晚间，南网储能发布关于非公开发行限售股上市流通的公告称，公司本次股票上 市类型为非公开发行股份；股票认购方式为网下，本次股票上市流通总数为2，086，904，162股。本次 股票上市流通日期为2025年9月8日。 （编辑 任世碧） ...

Core Insights - The company reported a total operating revenue of 3.301 billion yuan for the first half of the year, representing a year-on-year increase of 13.38% [1] - The total profit reached 1.265 billion yuan, up 24.92% year-on-year, while the net profit attributable to shareholders was 832 million yuan, reflecting a 32.93% increase [1] - The gross profit margin improved to 52.74%, marking the highest level for the same period in history [1] Financial Performance - Total operating revenue: 3.301 billion yuan, up 13.38% year-on-year [1] - Total profit: 1.265 billion yuan, up 24.92% year-on-year [1] - Net profit attributable to shareholders: 832 million yuan, up 32.93% year-on-year [1] - Gross profit margin: 52.74%, highest in history for the same period [1] Project Development - As of June 30, 2025, the company has an operational pumped storage capacity of 10.28 million kilowatts, with 10 ongoing projects totaling 12 million kilowatts [1] - Key projects such as the Meizhou Phase II and Nanning projects are expected to be operational within the year [1] - The Shaoguan Xinfeng project has completed feasibility research, and the company has acquired investment development rights for the Lincang Yunnan project [1] Market Positioning - The Meizhou project has officially entered the spot market, which is expected to enhance the profitability of the pumped storage power station [1] - Brokerage reports indicate that the electricity spot market mechanism will transition energy storage from "planned scheduling" to "market bidding," providing opportunities for participation in energy, ancillary services, and capacity markets [1] Dividend Distribution - The company plans to distribute a cash dividend of 0.52 yuan per 10 shares (tax included) for the 2025 semi-annual profit distribution [2] - An earnings briefing is scheduled for September 5, 2025, to address investor concerns and provide a comprehensive understanding of the company's operations [2]

及发行股份购买资产并募集配套资金暨关联交易的独立财务顾问，根据《 中国国际金融股份有限公司关于 南方电网储能股份有限公司重大资产置换及发行股份购买资产 并募集配套资金暨关联交易 之限售股解禁上市流通的核查意见 中国国际金融股份有限公司（以下简称"中金公司"、"独立财务顾问"）作 为南方电网储能股份有限公司（以下简称"南网储能"、"公司"）重大资产置换 司重大资产重组管理办法》 上市公公司并购重组财务顾问务务管理办法》 《 上市证 《 券交易所股票市公规则》和上市证 券交易所市公公司自律监管指引第 11 号- 持续督导》等有关法律法规的规定，对南网储能本次重组非公开发行股票限售股 解禁并市公流通事项进行了核查，具体核查情况如下： 一、本次限售股市公类型 本次限售股市公流通类型为非公开发行限售股，具体情况如下： （一）本次非公开发行限售股核准情况 公司于 2022 年 8 月 26 日收到中国 券监督管理委员会（以下简称"中国 监会"）出具的上关于核准云南文山电力股份有限公司向中国南方电网有限责任 公司发行股份购买资产并募集配套资金的批复》（ 监许可〔2022〕1902 号）， 核准公司发行 2,086,904, ...

证券代码：600995 证券简称：南网储能 编号：2025-48 南方电网储能股份有限公司 关于非公开发行限售股上市流通的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： ? 本次股票上市类型为非公开发行股份；股票认购方式为网下， 上市股数为2,086,904,162股。 本次股票上市流通总数为2,086,904,162股。 除上述情况外，截至本公告披露日，公司未发生其他导致股本数 量变化的情况。 三、本次上市流通的限售股的有关承诺 公司控股股东南方电网公司承诺：在本次非公开发行中认购取得 的公司股份，自股份发行结束之日起 36 个月内将不以任何方式转让； 在本次非公开发行前直接或间接持有的公司股份，自本次非公开发行 股份上市之日起 18 个月内不以任何方式转让。但是，在适用法律许可 前提下的转让不受此限；基于本次非公开发行而享有的公司送红股、 转增股本等新增股份，亦遵守上述限售期的约定。 截至本公告披露日，南方电网公司严格履行了上述承诺，不存在 相关承诺未履行而影响本次限售股上市流通的情况。 四、控股 ...

证券代码：600995 证券简称：南网储能 编号：2025-48 南方电网储能股份有限公司 关于非公开发行限售股上市流通的公告 1 所上市流通交易。本次非公开发行后，公司总股本由 478,526,400 股 增至 2,565,430,562 股。 二、本次限售股形成后至今公司股本数量变化情况 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为非公开发行股份；股票认购方式为网下， 上市股数为2,086,904,162股。 本次股票上市流通总数为2,086,904,162股。 本次股票上市流通日期为2025 年 9 月 8 日。 一、本次限售股上市类型 南方电网储能股份有限公司（以下简称"公司"）本次限售股上 市类型为非公开发行的有限售条件流通股。 2022 年 8 月 26 日，公司收到中国证券监督管理委员会（以下简称 "中国证监会"）《关于核准云南文山电力股份有限公司向中国南方 电网有限责任公司发行股份购买资产并募集配套资金的批复》（证监 许可〔2022〕1902 号），核准公司向中国南方电 ...

中国国际金融股份有限公司关于 南方电网储能股份有限公司重大资产置换及发行股份购买资产 并募集配套资金暨关联交易 之限售股解禁上市流通的核查意见 中国国际金融股份有限公司（以下简称"中金公司"、"独立财务顾问"）作 为南方电网储能股份有限公司（以下简称"南网储能"、"公司"）重大资产置换 及发行股份购买资产并募集配套资金暨关联交易的独立财务顾问，根据《上市公公 司重大资产重组管理办法》《上市公公司并购重组财务顾问务务管理办法》《上市证 券交易所股票市公规则》和上市证 券交易所市公公司自律监管指引第 11 号- 持续督导》等有关法律法规的规定，对南网储能本次重组非公开发行股票限售股 解禁并市公流通事项进行了核查，具体核查情况如下： 一、本次限售股市公类型 本次限售股市公流通类型为非公开发行限售股，具体情况如下： （一）本次非公开发行限售股核准情况 本次非公开发行新增股份已于 2022 年 9 月 8 日在中国 券登记结算有限责 任公司市证分公司办理完毕股份登记手续。 （四）本次非公开发行限售股锁定期安排 公司于 2022 年 8 月 26 日收到中国 券监督管理委员会（以下简称"中国 监会"）出具的上关于核准云南 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a 13.4% year-on-year increase in revenue for the first half of 2025, reaching 3.301 billion yuan, and a 32.9% increase in net profit attributable to shareholders, amounting to 832 million yuan, which aligns with market expectations [7] - The increase in revenue and profit is attributed to several factors: improved water supply for peak-shaving hydropower, increased income from the first phase of Meizhou pumped storage entering the spot market, and the commissioning of the Yunnan Qiubei energy storage station [7] - The company has a total installed capacity of 12.9642 million kilowatts as of the first half of 2025, including 10.28 million kilowatts of pumped storage and 654,200 kilowatts of new energy storage [7] - The entry of Meizhou into the spot market is expected to enhance the profitability of pumped storage plants, as the new policy broadens the development space for energy storage [7] - The company maintains profit forecasts of 1.235 billion yuan, 1.394 billion yuan, and 1.517 billion yuan for 2025-2027, with corresponding P/E ratios of 27x, 24x, and 22x [7] Financial Summary - Total revenue forecast for 2023A is 5.63 billion yuan, with a projected increase to 6.67 billion yuan in 2025E, reflecting an 8.08% year-on-year growth [1][8] - Net profit attributable to shareholders is expected to grow from 1.014 billion yuan in 2023A to 1.235 billion yuan in 2025E, representing a 9.61% increase [1][8] - The latest diluted EPS is projected to rise from 0.32 yuan in 2023A to 0.39 yuan in 2025E [1][8] - The company's total assets are forecasted to increase from 50.467 billion yuan in 2024A to 57.814 billion yuan in 2025E [8]

Summary of Key Points Core Viewpoint - In September 2025, a total of 179 companies in the A-share market will face the unlocking of restricted shares, amounting to approximately 16.228 billion shares with a total market value of 303.398 billion yuan, reflecting a month-on-month decrease of about 53.88% and a year-on-year increase of about 3.16% [1][9]. Company-Specific Summaries - **Times Electric**: The largest unlocking value, with 590 million shares set to be released on September 8, amounting to approximately 28.713 billion yuan, which represents 43.42% of its total share capital [4][9]. - **South Network Energy Storage**: Will have 2.087 billion shares unlocked on September 8, with a market value of about 21.474 billion yuan, accounting for 65.3% of its total share capital [9]. - **Wondfo Medical**: The third largest unlocking value, with 407 million shares, representing 69.83% of its total share capital, and a market value of approximately 17.025 billion yuan [9]. Industry Distribution - The industries with the highest unlocking market values are: - **Machinery Equipment**: Led by Times Electric and Xizhuang Co., with significant unlocking volumes [9]. - **Computer**: Notable companies include Softcom Power and Hehe Information, which have substantial unlocking values [9]. - **Electronics**: This sector also features prominently in the unlocking market value [9]. Anniversary Unlocking - In September, 10 companies will celebrate their listing anniversary, resulting in the unlocking of approximately 480 million shares with a total market value of about 30.255 billion yuan [12].

新华财经北京9月1日电 2025年9月，A股有179家公司的限售股面临解禁，合计解禁量约为162.28亿股，解禁规模3033.98亿元，环比下降约53.88%，同比上 升约3.16%。其中，时代电气解禁规模居首，解禁市值超200亿元。 从行业分布来看，机械设备、计算机、电子行业解禁市值分别位列前三。 此外，共有10家公司、4.8亿限售股于9月迎上市周年解禁，解禁市值为302.55亿元，包括合合信息、无线传媒、富特科技等企业。 逾3000亿元限售股9月解禁时代电气、南网储能解禁规模居前 截至2025年8月28日的数据显示，9月有179只股票面临解禁，合计解禁量为162.28亿股，以2025年8月28日收盘价计算，合计解禁市值3033.98亿元，环比下降 约53.88%，同比上升约3.16%。 图1：2024年9月至2025年9月限售股解禁规模 | 排名 | 证券简称 | 证券代码 | 解禁数量(万股) | 解禁市值(亿元) | | --- | --- | --- | --- | --- | | 1 | 时代电气 | 688187.5H | 58,958.57 | 287.13 | | 2 | 南网储能 | 60 ...

Core Viewpoint - The report highlights the financial performance and operational status of China Southern Power Grid Energy Storage Co., Ltd. for the first half of 2025, showcasing significant growth in revenue and net profit, alongside strategic developments in energy storage and hydropower sectors [1][2]. Financial Performance - The company's operating revenue for the first half of 2025 reached approximately CNY 3.30 billion, representing a year-on-year increase of 13.38% [2][14]. - Total profit amounted to approximately CNY 1.27 billion, reflecting a 24.92% increase compared to the same period last year [2]. - Net profit attributable to shareholders was approximately CNY 832.44 million, up 32.93% year-on-year [2][14]. - The company's total assets increased by 7.54% to approximately CNY 54.27 billion, while net assets rose by 2.94% to approximately CNY 21.97 billion [2]. Industry Overview - National electricity consumption in the first half of 2025 was approximately 4.84 trillion kWh, a growth of 3.7% year-on-year, with total installed power generation capacity reaching 3.65 billion kW, up 18.7% [3][4]. - The new energy storage sector is experiencing rapid growth, with installed capacity exceeding 80 million kW by June 2025, driven by policy shifts towards market-driven development [3][4]. Business Operations - The company operates a total installed capacity of 12.96 million kW, including 10.28 million kW from pumped storage, 654.2 MW from new energy storage, and 2.03 million kW from peak-shaving hydropower [4][5]. - Three new electrochemical storage projects were commissioned, contributing to the new energy storage capacity [5][6]. - The company is actively pursuing ten ongoing pumped storage projects, with plans for completion and commissioning within the year [6][7]. Strategic Initiatives - The company is focusing on enhancing operational efficiency and cost management, with a goal to improve key performance indicators such as profit margins and asset turnover [7][8]. - Emphasis is placed on technological innovation, with significant investments in research and development, leading to a 95.34% increase in R&D expenses [15][11]. - The company is also enhancing its ESG (Environmental, Social, and Governance) initiatives, achieving high ratings in sustainability assessments [12][13].