证券代码：601222 证券简称：林洋能源 公告编号：临 2025-45 江苏林洋能源股份有限公司 关于 2022 年员工持股计划存续期即将届满 的提示性公告 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"）于 2022 年 1 月 10 日召开 第四届董事会第二十九次会议和第四届监事会第十六次会议，于 2022 年 1 月 26 日召开 2022 年第一次临时股东大会，审议通过了《关于<江苏林洋能源股份有限 公司 2022 年员工持股计划（草案）>及其摘要的议案》及相关议案，同意实施公 司 2022 年员工持股计划。具体内容详见公司于 2022 年 1 月 11 日、2022 年 1 月 27 日在上海证券交易所网站（www.sse.com.cn）披露的相关公告。根据中国证监 会《关于上市公司实施员工持股计划试点的指导意见》、《上海证券交易所上市公 司自律监管指引第 1 号——规范运作》及《江苏林洋能源股份有限公司 2022 年 员工持股计划管理办法》等相关规定，公司 2022 年 ...

Core Insights - The storage industry saw significant growth in H1 2025, with 507 new projects and a total capacity of 21.4GW/53.8GWh, marking a year-on-year increase of 55% and 60.86% respectively [3][20] - Over 90% of storage-related companies reported positive net profit growth, indicating that the new energy sector is becoming a crucial component of corporate growth [5][14] - The number of IPO applications related to storage reached approximately 200, a sevenfold increase compared to the same period last year, with around 16 related to storage [6] Policy Analysis - The end of the tariff buffer period for storage batteries in the US and China will see tariffs rise to 64.9% by the end of 2025, and to 82.4% starting January 1, 2026 [6] Price Trends - The average price of grid-connected storage systems decreased by 0.06 yuan/Wh, a drop of 11.2%, with a 10% decrease in Q2 [8] - The average price of grid-connected storage systems fell by 0.155 yuan/Wh, with a decline of 22.6%, and a near 30% decrease in Q2 after a brief increase [8] Company Performance - As of July 31, 2025, 23% of 61 listed companies in the battery, PCS, and system integration sectors disclosed their performance, with significant growth noted in the new energy business [12] - Notable companies like Ningde Times and Southern Power Storage achieved over 28% growth in net profit and non-recurring net profit [14] Product and Technology Dynamics - The storage industry is evolving towards larger capacity cells and systems, with a focus on standardizing specifications around 587Ah and 684Ah [7][17] - The trend is moving towards larger storage systems, with capacities reaching 9MWh and 10MWh, disrupting traditional 20-foot container models [8][17] Project Dynamics - In H1 2025, 167 storage orders were publicly announced, totaling 292.739GWh, with 107 projects signed, under construction, or in operation [9][10] - The distribution of new projects shows that 13 regions exceeded 1GW in new capacity, with Yunnan, Xinjiang, and Hebei leading [20][23][28]

Core Viewpoint - The launch of the RWA registration platform in Hong Kong marks a significant step in the tokenization of real-world assets, facilitated by the Hong Kong Web3.0 Standardization Association, which aims to create a comprehensive service system for data, asset, and financialization of RWA assets [1][2]. Group 1: RWA Platform and Standards - The RWA registration platform will enable the tokenization process for real-world assets, with three key standards established: "RWA Tokenization Business Guidelines," "RWA Tokenization Technical Specifications," and "Blockchain-based Stablecoin Cross-border Payment Technical Specifications" [1][2]. Group 2: Green Energy and Carbon Neutrality - The green value of electricity is becoming increasingly important as the EU implements carbon border adjustment mechanisms and regulations affecting exports from China, indicating a shift towards green electricity reforms [2]. - The Gansu thermal power capacity value exceeding expectations reflects potential changes in electricity pricing, emphasizing the importance of "green electricity direct connection," "zero-carbon parks," and "household photovoltaic aggregation participation in trading" [2]. Group 3: Dynamic Revenue Sharing - RWA projects allow for real-time distribution of revenue based on the operational performance of underlying assets, such as charging stations, where investor returns are directly linked to usage rates [2]. Group 4: Profitability of Green Power Assets - The peak-valley price difference arbitrage is identified as the core revenue source for green power asset RWAs, providing a sustainable cash flow foundation [3]. - RWA technology enhances the revenue potential and efficiency of green power assets, transitioning from traditional asset management to a model that encourages global capital sharing [3]. Group 5: Investment Opportunities - The report suggests focusing on investment opportunities that integrate RWA with electricity trading, virtual power plants, and carbon assets, recommending investments in household photovoltaics, charging stations, and carbon assets [3]. - Specific companies highlighted for potential investment include Southern Power Grid Energy, GCL-Poly Energy, Longxin Group, Zhejiang Chint Electrics, and Linyang Energy [3].

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。 ...

Core Insights - The China Securities 500 Quality Growth Index has shown a slight increase of 0.22% as of August 4, 2025, with notable stock performances from companies like ShenZhou TaiYue and JieJia WeiChuang, which rose by 8.95% and 6.00% respectively [1] - Analysts suggest that August may see a rotation of market hotspots due to a lack of performance expectations, advising caution in high-risk investments [1] - The index is currently at a historical low valuation with a price-to-book ratio (PB) of 1.92, indicating strong value for investors [2] Market Performance - The top ten weighted stocks in the China Securities 500 Quality Growth Index account for 20.47% of the index, with Dongwu Securities and Kaiying Network being the largest contributors [2] - The 500 Quality Growth ETF closely tracks the index and has recently reported a price of 1.02 yuan, reflecting a 0.20% increase [1] Investment Strategy - Analysts from Galaxy Securities recommend focusing on companies with strong performance certainty during the current reporting period, while also noting the potential for localized market movements [1] - Guotou Securities emphasizes that the current bull market logic driven by liquidity remains intact, predicting a strong market index performance in August [1]

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)