Core Viewpoint - The virtual power plant (VPP) is emerging as a new operational model in the energy sector, significantly enhancing power supply security and promoting renewable energy consumption. The industry is transitioning from an invitation-based model to a market-oriented approach, with government targets set for 2027 and 2030 to increase regulation capacity to 20 million kilowatts and over 50 million kilowatts, respectively [1][11][25]. Industry Overview - Virtual power plants aggregate distributed energy resources, adjustable loads, and storage systems, acting as new operational entities that participate in power system optimization and market transactions [2]. - The development of virtual power plants is supported by a comprehensive policy framework established by the government, which includes various action plans and guidelines aimed at fostering innovation and market mechanisms [8][11]. Development Background - The rapid growth of renewable energy in China, particularly in solar and wind power, has created a pressing need for flexible power management solutions. Virtual power plants can significantly reduce the need for redundant capacity by providing flexible load adjustments [13][15]. - The construction cost of virtual power plants is only one-eighth that of traditional coal-fired power plants, making them a cost-effective solution for peak load management [15]. Current Status - The virtual power plant industry in China has established a complete industrial chain, encompassing resource aggregation, platform operation, and market trading. Key regions include Shandong, Guangdong, Zhejiang, and Shanghai, where pilot projects are actively being developed [17][19]. - The commercial model is evolving from a single demand response approach to a diversified model that includes power trading and carbon services [19]. Competitive Landscape - The industry features a diverse competitive landscape with participation from state-owned enterprises, private companies, and technology firms. Major players include State Grid, Huaneng Group, and Guodian NARI, which leverage their resources and infrastructure to dominate the market [23]. - Private companies like Guoneng Rixin and Teruid focus on technological innovation and niche markets, while tech giants such as Huawei and Tencent are entering the sector with advanced digital technologies [23]. Future Trends - The virtual power plant industry is expected to experience accelerated growth driven by policy support and market mechanisms, with projections indicating a market size exceeding 10.2 billion yuan by 2025 and surpassing 100 billion yuan by 2030 [25][26]. - Technological advancements in AI, 5G, and blockchain will enhance operational efficiency and real-time responsiveness, transforming virtual power plants into intelligent energy management systems [27]. - The integration of virtual power plants with other sectors, such as transportation and building management, will create new business models and expand the ecosystem [28].

Group 1 - The company LinYong Energy (601222) announced on August 5 that its "2025 Semi-Annual Report" is scheduled to be disclosed on August 30, 2025 [1] - The upcoming regular report will include shareholder information relevant to that time point [1]

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：半年报大概什么时间公示，二季度流通股东信息啥时 候更新？ 林洋能源（601222.SH）8月5日在投资者互动平台表示，公司《2025年半年度报告》拟于2025年8月30 日披露，本次定期报告中将披露对应时点的股东信息。 ...

截至2025年8月4日 11:15，中证500质量成长指数(930939)上涨0.22%，成分股神州泰岳(300002)上涨8.95%，捷佳伟创(300724)上涨6.00%，中创智领(601717) 上涨3.16%，湖南黄金(002155)上涨2.48%，乖宝宠物(301498)上涨2.42%。500质量成长ETF(560500)上涨0.20%，最新价报1.02元。 银河证券建议，8月份在政策空窗期和中报集中披露期，资金可能尝试把握业绩确定性较强的机会。但另一方面，业绩预期处于空窗期，且业绩链在预告阶 段已完成部分博弈，所以8月市场或为局部热点轮动行情，大概率还会发酵一些边缘概念，对追高操作要适当谨慎。 国投证券认为，国内7月中央政治局会议在财政、货币、消费、企业经营等领域均有积极表态，无需担心政策呵护出现调整。总结看，本轮由于主动信贷扩 张所形成基于流动性推动的牛市大逻辑并未受到破坏，8月大盘指数预计在"银行搭台、多方唱戏下"维持强势，眼下重在结构。 值得注意的是，Wind数据显示，该基金跟踪的中证500质量成长指数估值处于历史低位，最新市净率PB为1.92倍，低于指数近3年86.79%以上的时间，估值 ...

Core Viewpoint - Energy storage is identified as the core growth segment for the company in the future, with a strong focus on markets in Southeast Asia, Europe, and the Middle East, particularly Europe as the primary market [1] Group 1: Company Strategy - The company has shifted its focus from smart meter business to energy storage business over the past year and a half [1] - The main business areas of the company include smart grid, renewable energy, and energy storage, with energy storage applications covering renewable energy generation, independent storage power stations, commercial and industrial user-side storage, and user-side solar storage microgrids [1] - The company has established a European sales market, technical support, solutions, and after-sales service center in Warsaw, Poland, and is planning to build a storage factory there [2] Group 2: Market Development - The global energy storage market is expected to perform well in 2024, with an addition of 69GW/169GWh of storage capacity, representing a year-on-year growth of 76% [2] - Bloomberg New Energy Finance forecasts a compound annual growth rate of 17.1% for the global energy storage market until 2035, with annual additions reaching 228GW/965GWh, significantly outpacing the growth rates of wind and solar energy markets [2] Group 3: Future Projections - The company anticipates that 2025 will be the first year for large-scale overseas sales of energy storage products [3] - By the end of 2024, the company expects to have delivered and connected over 4.5GWh of energy storage systems, with over 10GWh of projects in reserve [3] - The company has developed 306Ah and 314Ah cell PACK solutions and is working on a 5MWh container energy storage system using a 628Ah ultra-large capacity cell [3]

Group 1 - The company expects a net profit attributable to shareholders for the first half of 2025 to be between 290 million and 350 million yuan, representing a decrease of 248.6 million to 308.6 million yuan compared to the same period last year, which is a year-on-year decline of 41.53% to 51.55% [1][2] - The expected net profit after deducting non-recurring gains and losses is projected to be between 275 million and 335 million yuan, also reflecting a decrease compared to the previous year [1][2] - The main reasons for the performance change include unrecognized sales revenue during the construction period, a temporary decline in the market price of photovoltaic cells, and fluctuations in electricity market settlement prices due to regulatory adjustments [1][2] Group 2 - In response to market changes, the company plans to closely monitor market dynamics, accelerate overseas market expansion, enhance operational efficiency through lean management, and implement cost reduction and efficiency improvement measures [2] - The company aims to continuously optimize operational quality to strengthen profitability and further consolidate its core market competitiveness [2]

[Current Period Performance Forecast](index=1&type=section&id=Current%20Period%20Performance%20Forecast) The company forecasts a significant year-on-year decline in H1 2025 net profit attributable to shareholders and non-recurring net profit, ranging from 40.79% to 51.55% H1 2025 Performance Forecast | Metric | H1 2025 Forecast (RMB) | H1 2024 Actual (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Shareholders | 290 million - 350 million | 598.6047 million | ↓ 41.53% to 51.55% | | Non-recurring Net Profit Attributable to Shareholders | 275 million - 335 million | 565.7627 million | ↓ 40.79% to 51.39% | - This performance forecast data has not been audited by a certified public accountant[6](index=6&type=chunk) [Prior Period Performance](index=2&type=section&id=Prior%20Period%20Performance) The company's H1 2024 performance included net profit attributable to shareholders of RMB 598.6047 million and basic earnings per share of RMB 0.29 H1 2024 Performance Review | Metric | Amount | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | 598.6047 million RMB | | Non-recurring Net Profit Attributable to Parent Company Shareholders | 565.7627 million RMB | | Earnings Per Share | 0.29 RMB | [Reasons for Performance Change and Countermeasures](index=2&type=section&id=Reasons%20for%20Performance%20Change%20and%20Countermeasures) Performance decline is primarily attributed to unconfirmed new energy project revenue, declining solar cell prices, and strategic adjustments in the energy storage sector due to intense domestic competition - New Energy Segment: Affected by cyclical fluctuations in the photovoltaic industry, revenue from power station BT projects has not yet been recognized, while declining solar cell market prices and fluctuating electricity market transaction settlement prices have pressured profitability[8](index=8&type=chunk) - Energy Storage Segment: Due to intense domestic industry competition, the company focused on quality improvement and efficiency enhancement, leading to a phased adjustment in project scale[8](index=8&type=chunk) - Countermeasures: The company plans to accelerate overseas market expansion, deepen lean management, and fully implement cost reduction and efficiency improvement in H2 2025 to consolidate and enhance core market competitiveness[8](index=8&type=chunk) [Risk Warning](index=2&type=section&id=Risk%20Warning) This performance forecast is a preliminary, unaudited financial department calculation, with no significant uncertainties identified affecting its accuracy - This performance forecast is a preliminary calculation by the company's finance department and has not yet been audited by a certified public accountant[9](index=9&type=chunk) [Other Explanations](index=2&type=section&id=Other%20Explanations) Investors are reminded that this forecast is preliminary, and final accurate financial data will be based on the officially disclosed H1 2025 report - The company advises that the forecast data is preliminary, and the specific accurate financial data will be subject to the company's officially disclosed H1 2025 report; investors are urged to be aware of investment risks[10](index=10&type=chunk)

林洋能源（601222）公告，预计2025年半年度实现归属于母公司所有者的净利润为2.9亿元到3.5亿元， 与上年同期相比，将减少2.49亿元到3.09亿元，同比减少41.53%到51.55%。预计2025年半年度实现归属 于母公司所有者的扣除非经常性损益的净利润为2.75亿元到3.35亿元，与上年同期相比，将减少2.31亿 元到2.91亿元，同比减少40.79%到51.39%。 ...

Core Points - Jiangsu Linyang Energy Co., Ltd. was established in accordance with the Company Law and Securities Law of the People's Republic of China, and it was registered in Nantong City, Jiangsu Province [1] - The company issued 75 million shares of ordinary stock to the public for the first time on August 8, 2011, and is listed on the Shanghai Stock Exchange [1] - The company engages in the research, development, manufacturing, and sales of various energy-related products, including photovoltaic equipment, smart grid systems, and energy storage systems [2] Group 1: Company Structure and Governance - The company is governed by its articles of association, which outline the responsibilities and rights of shareholders, directors, and senior management [2][13] - The legal representative of the company must be determined within 30 days of resignation [1] - The company is liable for civil damages caused by the legal representative while performing their duties, and it can seek compensation from the representative if they are at fault [2] Group 2: Business Scope - The company’s business scope includes the development, construction, maintenance, and management of photovoltaic power generation projects, as well as the import and export of various goods and technologies [2] - The company is involved in the research and production of energy-saving and environmental protection products [2] Group 3: Share Issuance and Management - The company can increase its capital through various methods, including issuing shares to unspecified or specific objects, distributing bonus shares, and converting reserves into capital [5] - The company can repurchase its shares under certain conditions, with a limit of 10% of the total issued shares [6][8] - Shareholders have the right to propose temporary motions and participate in decision-making processes during shareholder meetings [26][29] Group 4: Shareholder Rights and Responsibilities - Shareholders are entitled to dividends and other benefits proportional to their shareholdings and have the right to supervise the company's operations [13][14] - Shareholders holding more than 1% of the shares can request the audit committee to initiate legal proceedings if the company suffers losses due to violations of laws or regulations [17][18] - The company must ensure that shareholders' rights are protected and that they are treated equally [21]

江苏林洋能源股份有限公司 章 程 （二零二五年六月修订） 江苏林洋能源股份有限公司章程 江苏林洋能源股份有限公司章程 第一章 总则 1.01 为维护公司、股东、职工和债权人的合法权益，规范公司的组织和行为， 根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证券 法》（以下简称《证券法》）和其他有关规定，制订本章程。 1.02 公司系依照《公司法》和其他有关规定成立的股份有限公司（以下简称"公 司"）。 公司以发起方式设立；在江苏省南通市数据局注册登记，取得营业执照，统一 社会信用代码为 913206006083861677。 1.03 公司于 2011 年 4 月 28 日经中国证券监督管理委员会（以下简称"中国证 监会"）核准，首次向社会公众发行人民币普通股 7,500 万股，于 2011 年 8 月 8 日 在上海证券交易所上市。 1.04 公司注册名称 中文全称：江苏林洋能源股份有限公司 英文全称：Jiangsu Linyang Energy Co., Ltd. 1.05 公司住所：江苏省启东经济开发区林洋路 666 号 邮政编码：226200 1.06 公司注册资本为人民币 2,0 ...