证券代码：601126 证券简称：四方股份 公告编号：2025-036 北京四方继保自动化股份有限公司 控股股东减持股份结果公告 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： 二、减持计划的实施结果 (一)大股东因以下事项披露减持计划实施结果： 减持计划实施完毕 | 股东名称 | 四方电气（集团）股份有限公司 | | | | --- | --- | --- | --- | | 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、高级管理人员 | □是 | √否 | | | 其他：无 | | | | 持股数量 | 350,507,666股 | | | | 持股比例 | 42.06% | | | | 当前持股股份来源 | 前取得：350,507,666股 IPO | | | 一、减持主体减持前基本情况 四方电气当前持有的公司股份来源于其 IPO 前取得股份以及历次资本公积金转增股份。 1 大股东持股的基本情况：截至本公 ...

格隆汇8月13日丨四方股份(601126.SH)公布，公司于2025年8月13日收到控股股东四方电气的通知。截 至2025年8月13日，四方电气本次减持计划已实施完毕。在减持期间内，四方电气合计减持公司股份 24,997,980股，占公司股份总数的3%，其中集中竞价减持8,332,680股，占公司股份总数的1%，大宗交 易减持16,665,300股，占公司股份总数的2%。 ...

Investment Rating - The report suggests a positive investment outlook for the AIDC industry, driven by high growth in global capital expenditure and increasing demand for data centers [2][11][18]. Core Insights - The AIDC industry is experiencing a significant transformation towards direct current (DC), high voltage, and high density, with a projected market size of 99.6 billion yuan by 2030, reflecting a CAGR of approximately 50% from 2024 to 2030 [2][68]. - The global AI market is entering a high growth phase, with the market size expected to reach approximately $274.5 billion by 2032, growing at a CAGR of 36% [11]. - Major cloud service providers (CSPs) are significantly increasing their capital expenditures for data center infrastructure, with notable investments from companies like Alibaba and Tencent [17][22]. - The evolution of power supply systems in data centers is shifting from traditional UPS to more efficient HVDC systems, which are expected to dominate the market in the coming years [34][49]. Summary by Sections AIDC Capital Expenditure Growth - Global AIDC capital expenditure is experiencing high growth, with CSPs increasing investments in data centers, leading to a projected total installed capacity of over 100 GW by 2025 [2][18]. - The capital expenditure from domestic CSPs is expected to see explosive growth, with Alibaba's capital expenditure forecasted to increase by 239% in 2024 [17][22]. Power Supply System Evolution - The AIDC is rapidly evolving towards direct current and high voltage systems, with a significant focus on improving power supply efficiency and reducing system costs [34][49]. - The report highlights the transition from traditional UPS systems to HVDC systems, which are expected to enhance energy efficiency and reduce operational costs [49][52]. Market Opportunities - The report identifies new market opportunities in auxiliary power sources such as BBU and supercapacitors, which are becoming standard in AI server configurations [2][4]. - The global server power supply market is projected to reach 147 billion yuan by 2030, with a CAGR of approximately 42% from 2024 to 2030 [2][68]. Competitive Landscape - The competitive landscape for server power supplies is characterized by high barriers to entry, with established players like Delta Electronics and Lite-On Technology dominating the market [81]. - The report emphasizes the importance of customer relationships and technological capabilities as key competitive advantages in the server power supply sector [84][85].

通过天眼查大数据分析，北京四方继保自动化股份有限公司共对外投资了22家企业，参与招投标项目 5000次，知识产权方面有商标信息42条，专利信息1699条，此外企业还拥有行政许可21个。 四方股份最新一期业绩显示，截至2025一季报，公司营业总收入18.28亿元、同比增长18.34%，归属净 利润2.41亿元，同比增长33.38%，扣非净利润2.34亿元，同比增长30.37%，流动比率1.569、速动比率 1.258、资产负债率57.62%。 天眼查商业履历信息显示，北京四方继保自动化股份有限公司，成立于1994年，位于北京市，是一家以 从事计算机、通信和其他电子设备制造业为主的企业。企业注册资本83343.6万人民币，实缴资本 83225.1万人民币。公司法定代表人为高秀环。 来源：金融界 金融界消息 截至2025年8月12日收盘，四方股份（601126）报收于17.1元，下跌0.93%，换手率1.47%， 成交量12.01万手，成交金额2.06亿元。 资金流向方面，今日主力资金净流出2681.34万元，占比成交额13.0%。其中，超大单净流出277.88万 元、占成交额1.35%，大单净流出2403.46万 ...

证券代码：601126 证券简称：四方股份 公告编号：2025-035 北京四方继保自动化股份有限公司 关于控股股东权益变动触及 5%刻度的提示性公告 控股股东四方电气（集团）股份有限公司及其一致行动人杨奇逊、王绪昭 保证向本公司提供的信息真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一 致。 重要内容提示： | 权益变动方向 | 比例增加□ | 比例减少√ | | --- | --- | --- | | 权益变动前合计比例 | 42.06% | | | 权益变动后合计比例 | 40.00% | | | 本次变动是否违反已作出的承诺、意向、计划 | 是□ 否√ | | | 是否触发强制要约收购义务 | 是□ 否√ | | 一、 信息披露义务人及其一致行动人的基本信息 1、身份类别 | | √控股股东/实际控制人及其一致行动人 □其他 5%以上大股东及其一致行动人 | | --- | --- | | 投资者及其一致行动人的身份 | □合并口径第一大股东及其一致行动人（仅适用 | | | 于无控股股东、实际控制人） | | | □其他 | | ...

北京四方继保自动化股份有限公司 简式权益变动报告书 上市公司名称：北京四方继保自动化股份有限公司 股票上市地点：上海证券交易所 股票简称：四方股份 股票代码：601126 信息披露义务人：四方电气（集团）股份有限公司 通讯地址：北京市海淀区农大南路1号院6号楼 股权变动性质：股份减少，触及5%刻度 信息披露义务人一致行动人：杨奇逊、王绪昭 本报告签署日期：2025年8月5日 1 | 附表：简式权益变动报告书 13 | | --- | 信息披露义务人声明 一、 信息披露义务人依据《公司法》《证券法》《收购管理办法》《公开 发行证券的公司信息披露内容格式与准则第15号——权益变动报告书》及其他 法律、法规和规范性文件编制本报告书。 二、 信息披露义务人签署本报告书已获得必要的授权和批准。 三、 依据《公司法》《证券法》《收购管理办法》《公开发行证券的公 司信息披露内容格式与准则第15号——权益变动报告书》的规定，本报告书已全 面披露了信息披露义务人及其一致行动人在北京四方继保自动化股份有限公司 （以下简称"四方股份""公司"）中拥有权益的股份变动情况。截至本报告 书签署日，除本报告书披露的信息外，信息披露义务人没 ...

格隆汇8月5日丨四方股份(601126.SH)公布，公司于2025年8月5日收到四方电气的通知，其于2025年7月 28日至2025年8月5日期间，通过集中竞价方式减持公司股份200万股，占公司总股本比例为0.24%；通 过大宗交易方式减持公司股份412.53万股，占公司总股本比例为0.50%；合计减持公司股份612.53万 股，持有公司股份的比例由40.74%变动至40.00%。 ...

Investment Rating - The report maintains an "Outperform" rating for the industry [4] Core Insights - The report emphasizes the significance of the Yarlung Tsangpo River downstream hydropower project, which aims to harness the region's abundant hydropower potential and drive economic development [1][10] - The development of large-capacity impulse turbines, with a single unit capacity of approximately 800 MW, represents a world-first achievement, addressing extreme challenges in high-altitude and high-head environments [1][10] - The gas-insulated transmission line (GIL) technology is highlighted for its advantages in high-capacity power transmission, low losses, and adaptability to various environments, making it a preferred choice in special scenarios [2][26] Summary by Sections 1. Large Capacity Impulse Turbines - The Yarlung Tsangpo River downstream hydropower project is set to utilize impulse turbines with a capacity of 800 MW, surpassing current global standards [1][10] - The project faces significant technical challenges due to high water heads and extreme environmental conditions, necessitating advanced turbine designs and manufacturing techniques [10][11] 2. Gas-Insulated Transmission Lines (GIL) - GIL technology is recognized for its ability to efficiently transmit high voltage and large currents in confined spaces, making it suitable for urban and challenging geographical environments [2][26] - The report notes successful applications of GIL in various projects, including the Su Tong GIL comprehensive corridor, which is the highest voltage and largest capacity GIL project globally [27][33] 3. High-Altitude Electrical Equipment - The report discusses the need for altitude adjustments in electrical equipment due to the unique challenges posed by high-altitude environments, particularly in the Yarlung Tsangpo River project [2][3] - The development of high-altitude, high-seismic equipment is crucial for the effective transmission and consumption of clean energy [2][3] 4. Reliable Key Supply Chain - The report identifies key companies in the supply chain for hydropower equipment, including Harbin Electric, Dongfang Electric, and China XD Electric, among others [3][4] - The supply chain's reliability is essential for supporting the ambitious hydropower projects outlined in national plans [3][4]

Investment Rating - The report maintains a "Positive" investment rating for the industry [5] Core Viewpoints - The report emphasizes the ongoing "anti-involution" trend in the photovoltaic industry, which is expected to drive price increases and improve profitability across the supply chain [16][36] - The energy storage sector is experiencing sustained demand growth, with significant project developments and favorable policy support [39][44] - The lithium battery segment shows stable demand, with advancements in solid-state technology and materials innovation [39][44] - The wind power sector is benefiting from increased offshore project activity and recovery in profitability [39][44] - The power equipment sector is seeing positive developments from high-voltage projects and international demand [39][44] - New directions in AI and robotics are highlighted as emerging investment opportunities, particularly in the context of increased capital expenditure from major manufacturers [39][44] Summary by Sections Photovoltaic - The photovoltaic industry is witnessing a price increase in key materials, with polysilicon prices rising to 49-55 CNY/kg and silicon wafer prices increasing by approximately 0.1 CNY per piece [22][25] - The government is pushing for the elimination of low-price competition and the orderly exit of outdated production capacity, with mergers and acquisitions in the polysilicon sector expected to progress in Q3 [16][36] - Recommended stocks include Tongwei Co., GCL-Poly, LONGi Green Energy, and Aiko Solar [16][36] Energy Storage - In H1 2025, major energy storage projects across 21 regions reached a total capacity of 124 GWh, with significant contributions from Inner Mongolia, Shandong, and Guangdong [41][42] - The report highlights the increasing stability of the energy storage market, with a positive outlook for domestic demand and pricing [39][44] - Recommended stocks include Sungrow Power Supply and Deye Technology [39][44] Lithium Batteries - The lithium battery sector is characterized by stable demand and a focus on solid-state battery technology, with companies like CATL and other second-tier players expected to benefit [39][44] - The report notes the importance of material innovations such as lithium metal anodes and nickel-iron current collectors [39][44] - Recommended stocks include CATL, Xiamen Tungsten, and Putailai [39][44] Wind Power - The offshore wind sector is accelerating project construction, with expectations for increased profitability in the second half of the year [39][44] - Recommended stocks include Mingyang Smart Energy and Zhongji Lingnan [39][44] Power Equipment - The report indicates that high-voltage projects have been approved, with overseas demand expected to rise [39][44] - Recommended stocks include Pinggao Electric and XJ Electric [39][44] New Directions - The report highlights advancements in humanoid robotics and AI applications, with significant capital expenditure from major companies [39][44] - Recommended stocks include Sanhua Intelligent Controls and Zhejiang Rongtai [39][44]

证券代码：601126 证券简称：四方股份 公告编号：2025-034 北京四方继保自动化股份有限公司 关于控股股东权益变动触及 1%刻度的提示性公告 | 信息披露义务人名称 | | 投资者身份 | 统一社会信用代码 | | --- | --- | --- | --- | | | √ | 控股股东/实控人 | | | 四方电气（集团）股份 | □ | 控股股东/实控人的一致 | √ 9111000070022075X9 | | 有限公司 | 行动人 | | □ 不适用 | | | □ | 其他直接持股股东 | | 二、 权益变动触及 1%刻度的基本情况 | 投资者 | 变动前股数 | 变动前 | 变动后股数 | 变动后比 | 权益变动 | 权益变动的 | | --- | --- | --- | --- | --- | --- | --- | | 名称 | （万股） | 比例（%） | （万股） | 例（%） | 方式 | 时间区间 | | 发生直接持股变动的主体： | | | | | | | | 四 方 电 气 | | | | | 集中竞价√ | 2025/07/22- | | （集团）股 份有限公司 | 3 ...