证券代码：601222 证券简称：林洋能源 公告编号：临 2025-63 江苏林洋能源股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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、准确性和完整性承担法律责任。 会议召开时间：2025 年 11 月 25 日（星期二）15:00-16:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 18 日 （星期二）至 11 月 24 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 dsh@linyang.com.cn 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 二、说明会召开的时间、地点 （一）会议召开时间：2025 年 11 月 25 日（星期二）15:00-16:00 （二）会议召开地点：上证路演中心 （三）会议召开方式：上证路演中心网络互动 重要内容提示： ...

Group 1 - The stock price of LinYuan Energy increased by 2.12% on November 13, reaching 6.27 CNY per share, with a total market capitalization of 12.917 billion CNY [1] - Year-to-date, LinYuan Energy's stock price has decreased by 7.85%, but it has seen a 2.28% increase over the last five trading days [1] - The company has experienced a significant decline in revenue and net profit for the first nine months of 2025, with revenue of 3.674 billion CNY, down 28.88% year-on-year, and a net profit of 359 million CNY, down 60.56% year-on-year [2] Group 2 - LinYuan Energy's main business segments include smart grids, renewable energy, and energy storage, with the largest revenue contribution coming from electric meters and system products at 57.52% [2] - The company has distributed a total of 3.319 billion CNY in dividends since its A-share listing, with 1.529 billion CNY distributed in the last three years [3] - As of September 30, 2025, the number of shareholders decreased by 6.01% to 74,200, while the average circulating shares per person increased by 6.39% to 27,776 shares [2]

Market Overview - The electricity sector experienced a slight increase of 0.02% on the trading day, with TuoRi New Energy leading the gains [1] - The Shanghai Composite Index closed at 4002.76, down by 0.39%, while the Shenzhen Component Index closed at 13289.0, down by 1.03% [1] Top Gainers in the Electricity Sector - TuoRi New Energy (002218) closed at 4.35, up by 10.13% with a trading volume of 501,400 shares and a transaction value of 215 million [1] - Hengsheng Energy (605580) closed at 44.72, up by 10.01% with a trading volume of 157,700 shares and a transaction value of 671 million [1] - Huami Environmental Energy (600475) closed at 19.15, up by 9.99% with a trading volume of 357,800 shares and a transaction value of 662 million [1] - Yunnan Energy Investment (002053) closed at 13.54, up by 9.99% with a trading volume of 290,700 shares and a transaction value of 381 million [1] Top Losers in the Electricity Sector - Mindong Electric Power (000993) closed at 14.48, down by 5.30% with a trading volume of 1,052,300 shares and a transaction value of 1.621 billion [2] - Zhaoxin Co., Ltd. (002256) closed at 3.61, down by 3.22% with a trading volume of 3,035,200 shares and a transaction value of 1.102 billion [2] - Xinzhu Co., Ltd. (002480) closed at 6.84, down by 2.98% with a trading volume of 331,900 shares and a transaction value of 229 million [2] Capital Flow Analysis - The electricity sector saw a net outflow of 1.044 billion from institutional investors, while retail investors contributed a net inflow of 1.17 billion [2] - The capital flow for individual stocks indicates varying levels of institutional and retail participation, with some stocks experiencing significant net inflows from retail investors [3]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7] Core Views - The company reported a revenue of 3.674 billion yuan for the first three quarters of 2025, a year-on-year decrease of 28.88%. The net profit attributable to the parent company was 359 million yuan, down 60.56% year-on-year. In Q3 2025, the revenue was 1.192 billion yuan, a decline of 29.96% year-on-year and 12.17% quarter-on-quarter. The net profit for Q3 was 35 million yuan, a significant drop of 88.77% year-on-year and 82.54% quarter-on-quarter [2][5] Summary by Sections Smart Meter Segment - In Q3 2025, the company announced several large orders, including winning bids totaling approximately 142 million yuan in the State Grid's electric meter procurement and 244 million yuan in the Southern Grid's metering equipment framework. Internationally, the company has established a presence in over 50 countries and regions, with a significant order of 383 million yuan for smart meters from Australia [12] New Energy Segment - The company continues to develop various renewable energy projects, holding a total of 1.17 GW of renewable energy stations as of the end of Q3 2025. It has also expanded its green electricity trading and green certificate sales business across several provinces [12] Financial Data - The company reported a period expense ratio of 19.27% in Q3 2025, an increase of 4.18 percentage points quarter-on-quarter, primarily due to lower financial expenses in Q2. The operating cash flow turned positive for the first time in the year [12] Future Outlook - The demand for smart meters is expected to increase due to new domestic distributed photovoltaic project regulations and opportunities in overseas markets. The company's smart meter business is anticipated to continue expanding, while the new energy business is expected to see concentrated shipments in Q4 [12]

Group 1 - Linyang Energy (601222.SH) reported its Q3 2025 results on October 31, 2025, with a total of 8 institutional investors holding 819 million shares, representing 39.76% of the total share capital [1] - The institutional holding percentage decreased by 1.11 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, one fund, Tianhong Zhongzheng Photovoltaic A, increased its holdings, while another fund, Photovoltaic ETF, saw a slight decrease in holdings [2] - Two new public funds were disclosed this period, including HSBC Jintrust Small Cap Stock and Zhongyou Ruize One-Year Bond A [2] - A total of 123 public funds were not disclosed this period, including several major ETFs [2]

Core Viewpoint - Linyang Energy reported a revenue of 3.674 billion yuan and a net profit of 359 million yuan for the first three quarters of 2025, emphasizing its commitment to global high-quality development in the smart, energy storage, and renewable energy sectors despite short-term transformation pressures [1][1][1] Group 1: Smart Energy - Linyang Energy has maintained a stable market share in the domestic smart meter sector, leveraging core market stability, product innovation, and deepened research cooperation [1][1] - The company signed a supply contract worth 383 million yuan for smart meters with Langiel in Australia, enhancing its global cooperation network [1][1] Group 2: Renewable Energy - Linyang's subsidiary, Linyang Zhiwei, has focused on the third-party operation and maintenance market, achieving a total operational capacity of over 25 GW, a growth of approximately 40% since the beginning of the year, placing it in the top tier of the industry [1][1] - The company made significant progress in overseas renewable energy, with the commencement of a MW-level solar power station in Elmas, Sardinia, Italy, and the acquisition of two MW-level photovoltaic projects on the island [1][1] Group 3: Energy Storage - The energy storage business follows a "domestic deepening + overseas breakthrough" strategy, establishing a comprehensive layout covering various products in key regions such as Europe, the Middle East, and Asia-Pacific [1][1] - Linyang focuses on high-quality energy storage orders and controls low-margin projects to mitigate operational risks, while also accelerating technological innovation and intellectual property development [1][1] Group 4: Future Outlook - Despite short-term performance fluctuations, Linyang Energy's long-term development logic remains intact, with steady progress in global layout across its three core business areas, multiple breakthroughs in overseas markets, and continuous technological empowerment [1][1][1]

Group 1 - The company Linyang Energy (SH 601222) announced its third board meeting of the sixth session held on October 30, 2025, in Jiangsu Province, where it reviewed the profit distribution plan for the first three quarters of 2025 [1] - For the year 2024, the revenue composition of Linyang Energy is as follows: photovoltaic industry accounts for 43.03%, electrical instrumentation industry accounts for 41.97%, energy storage and energy-saving industry accounts for 13.63%, other businesses account for 1.26%, and other industries account for 0.1% [1]

Core Viewpoint - Lin Yang Energy (601222.SH) reported a significant decline in both revenue and net profit for the third quarter of 2025, indicating potential challenges in its operational performance [1] Financial Performance - The company's operating revenue for the third quarter was 1.192 billion yuan, representing a year-on-year decrease of 29.96% [1] - The net profit attributable to shareholders of the listed company was 34.974 million yuan, down 88.77% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 70.674 million yuan, reflecting a year-on-year decline of 75.95% [1]

Core Insights - LinYong Energy reported a revenue of 3.674 billion yuan and a net profit of 359 million yuan for the first three quarters of 2025, with a proposed cash dividend of 0.088 yuan per share, totaling approximately 180 million yuan, which represents 50.04% of the net profit [2][6] Smart Metering - LinYong Energy has maintained a strong domestic market share through stable bidding success, product innovation, and deepened research cooperation, achieving a bid amount of 551 million yuan in major state grid projects [3] - The company has expanded its global footprint, signing a supply contract worth 383 million yuan for smart meters in Australia and achieving over 30% market share in Poland and the Middle East [3] New Energy - The company's subsidiary, LinYong Zhiwei, has seen its operation and maintenance capacity exceed 25 GW, marking a 40% increase since the beginning of the year, positioning it among the top tier in the industry [4] - LinYong is actively developing value-added services and has recently been approved as a distributed energy aggregator in Jiangsu, enhancing its capabilities in the energy market [4] Energy Storage - The energy storage business is focused on both domestic and international markets, achieving significant milestones such as a large-scale project in Mongolia and a 40 MW storage project in Mauritius [5] - The company emphasizes technological innovation, recently obtaining a patent for a battery pack thermal runaway protection method, showcasing its strong technical capabilities [5] Overall Business Strategy - Despite short-term performance fluctuations, LinYong Energy's long-term development logic remains intact, with steady progress in global expansion across its three core business areas, continuous technological innovation, and an optimized business structure [6]

证券代码：601222 证券简称：林洋能源 公告编号：临 2025-62 江苏林洋能源股份有限公司 2025 年第三季度主要经营数据公告 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。 江苏林洋能源股份有限公司（以下简称"公司"）2025年第三季度新能源电 站发电业务主要经营数据如下： 注：上述部分数据可能存在尾差，系计算时四舍五入造成。 三、经营数据相关说明 1、平均上网电价由脱硫标杆电价和可再生能源补贴价格组成。部分参与电 力市场化交易的平均上网电价，由电力市场化交易规则形成的结算电价和可再生 能源补贴价格组成。 二、截至2025年9月底新能源电站累计发电情况 | 地区 | 电站类型 | 装机容量 | 发电量 | 上网电量 | 结算电量 | 平均上网电价 （元/千瓦时，含 | | --- | --- | --- | --- | --- | --- | --- | | | | （MW） | （万千瓦时） | （万千瓦时） | （万千瓦时） | | | | | | | | | 税） | 地区 电站类型 装机容量 （MW） 发电 ...