Core Viewpoint - On September 15, a total of 16 listed companies had their restricted shares unlocked, with a total market value of approximately 17.991 billion yuan [1] Group 1: Companies and Their Restricted Shares - Shaanxi Guo Power (陕鼓动力) unlocked 435,600 shares under equity incentive restrictions [1] - Chuangli Group (创力集团) unlocked 3.936 million shares under equity incentive restrictions [1] - Shengquan Group (圣泉集团) unlocked 478,500 shares under equity incentive restrictions [1] - Yingke Medical (英科医疗) unlocked 995,400 shares under equity incentive restrictions [1] - Ruixin Microelectronics (瑞芯微) unlocked 4,500 shares under equity incentive restrictions [1] - Tongcheng New Materials (彤程新材) unlocked 1.5893 million shares under equity incentive restrictions [1] - Softcom Power (软通动力) unlocked 27.3 million shares with an extended lock-up period [1] - Weiman Sealing (唯万密封) unlocked 66.672 million shares prior to issuance restrictions [1] - Wuxi Zhenhua (无锡振华) unlocked 1.005 million shares under equity incentive restrictions [1] - Hangyu Technology (航宇科技) unlocked 798,600 shares [1] - Gaoling Information (高凌信息) unlocked 40 million shares [1] - Weijie Chuangxin (唯捷创芯) unlocked 8.5394 million shares [1] - Silin Jie (思林杰) unlocked 24.5305 million shares [1] - Kejie Intelligent (科捷智能) unlocked 20 million shares [1] - Juquan Technology (钜泉科技) unlocked 39.8841 million shares [1] - Shengke Communication (盛科通信) unlocked 1.5 million shares [1]

Core Points - The company will hold its 2024 annual shareholders' meeting on May 20, 2025, to authorize the board to formulate a mid-term profit distribution plan for 2025 based on the resolution of the shareholders' meeting [1] - The profit distribution plan has been approved by the company's board meeting on August 21, 2025 [1] Distribution Plan - The distribution year is set for the first half of 2025 [2] - The distribution target includes all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shanghai Branch as of the close of trading on the day before the equity registration [2] - The distribution plan is based on a total share capital of 1,723,474,492 shares, with a cash dividend of 0.16 yuan per share (before tax), totaling 275,755,918.72 yuan [1][3] Implementation Method - For shareholders with unrestricted circulating shares, dividends will be distributed through the clearing system of the China Securities Depository and Clearing Corporation Limited Shanghai Branch [2] - Shareholders who have completed designated transactions can collect cash dividends at their designated securities business department on the dividend payment date [2] Taxation Information - For individual shareholders and securities investment funds, the company will not withhold personal income tax at the time of profit distribution, with an actual cash dividend of 0.16 yuan per share [4] - The actual tax burden varies based on the holding period of the shares, with a 20% tax for holdings of one month or less, 10% for holdings between one month and one year, and no tax for holdings over one year [4] - For qualified foreign institutional investors (QFII), a 10% corporate income tax will be withheld, resulting in a net cash dividend of 0.144 yuan per share [5] - Similar tax treatment applies to Hong Kong investors under the Stock Connect program [5] Contact Information - For inquiries regarding this equity distribution, shareholders can contact the Securities Investment Department at 029-81871035 [8]

Group 1 - The company announced a cash dividend of 0.16 yuan per share (tax included) for the first half of 2025 [1] - The record date for the dividend is set for September 18, 2025 [1] - The ex-dividend date is scheduled for September 19, 2025 [1]

证券代码：601369 证券简称：陕鼓动力 公告编号：临 2025-043 西安陕鼓动力股份有限公司 A 股每股现金红利0.16元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/9/18 | － | 2025/9/19 | 2025/9/19 | 差异化分红送转： 否 一、通过分配方案的股东会届次和日期 西安陕鼓动力股份有限公司(以下简称"公司")2025 年 5 月 20 日召开 2024 年年 度股东会，同意授权董事会根据股东会决议在符合利润分配的前提条件下制定 2025 年中期利润分配方案。根据前述授权，本次利润分配方案经公司 2025 年 8 月 21 日召开的第九届董事会第十五次会议审议通过。 二、分配方案 2025年半年度权益分派实施公告 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。 重要内容提示： 每股分配比例 1. 发放年度：2025年半年度 2. 分派对象： 截至股权登 ...

Core Viewpoint - ShaanGu Power experienced a decline of 0.71% on August 29, with a trading volume of 123 million yuan, indicating a challenging market environment for the company [1] Financing Summary - On August 29, ShaanGu Power had a financing buy-in amount of 13.27 million yuan and a financing repayment of 19.48 million yuan, resulting in a net financing outflow of 6.21 million yuan [1] - The total financing and securities balance for ShaanGu Power reached 315 million yuan, with the financing balance accounting for 2.18% of the circulating market value, indicating a high level compared to the past year [1] - In terms of securities lending, the company repaid 5,200 shares and sold 1,800 shares on August 29, with a selling amount of 15,200 yuan, while the securities lending balance was 902,900 yuan, also at a high level compared to the past year [1] Business Performance - As of June 30, ShaanGu Power reported a total revenue of 4.869 billion yuan for the first half of 2025, reflecting a year-on-year decrease of 2.70%, while the net profit attributable to shareholders was 414 million yuan, down 9.75% year-on-year [2] - The company's main business revenue composition includes energy conversion equipment (46.04%), energy infrastructure operation (45.34%), industrial services (8.42%), and other minor segments [1] Shareholder Information - As of June 30, 2025, the number of shareholders for ShaanGu Power was 30,100, a decrease of 0.43% from the previous period, with an average of 56,738 circulating shares per shareholder, an increase of 1.29% [2] - The company has cumulatively distributed 7.284 billion yuan in dividends since its A-share listing, with 2.054 billion yuan distributed in the last three years [3] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 13.7081 million shares, an increase of 1.1211 million shares from the previous period, while other notable changes include a decrease in holdings by Invesco Great Wall CSI Dividend Low Volatility 100 ETF [3]

Group 1 - The core viewpoint of the news is that Xi'an Shangu Power Co., Ltd. has experienced a decline in stock price, with a cumulative drop of 5.88% over four consecutive days, closing at 8.49 yuan per share on August 28, with a total market capitalization of 14.632 billion yuan [1] - The company specializes in the development, manufacturing, and sales of various turbine machinery and systems, with its main business revenue composition being: energy conversion equipment 46.04%, energy infrastructure operation 45.34%, industrial services 8.42%, and others 0.14% [1] - The trading volume on the reporting date was 1.76 billion yuan, with a turnover rate of 1.22% [1] Group 2 - According to data, a fund under Bank of China holds a significant position in Shangu Power, with 182,500 shares, accounting for 3.43% of the fund's net value, making it the fourth-largest holding [2] - The fund, Zhongyin Xinhua Zhongcheng Hongli Value Index Initiation A, has incurred a floating loss of approximately 9.67 million yuan during the four-day decline, with a current floating loss of about 1.46 million yuan [2] - The fund manager Zhao Zhihua has a tenure of 10 years and 36 days, with the fund's total asset scale at 1.033 billion yuan, achieving a best return of 41.93% during his tenure [2]

Group 1 - The core viewpoint of the news is that Xi'an Shangu Power Co., Ltd. (陕鼓动力) has experienced a decline in stock price and financial performance as of August 25, 2025 [1] - The company's stock closed at 8.8 yuan, down 2.44%, with a trading volume of 358,200 hands and a transaction amount of 315 million yuan [1] - The net inflow of main funds was 18.52 million yuan, accounting for 5.88% of the transaction amount, with significant contributions from large orders [1] Group 2 - For the latest financial performance, the company reported total operating revenue of 4.869 billion yuan, a year-on-year decrease of 2.70%, and a net profit attributable to shareholders of 414 million yuan, down 9.75% year-on-year [1] - The company has a current ratio of 1.464, a quick ratio of 1.363, and a debt-to-asset ratio of 61.88% [1] - Xi'an Shangu Power Co., Ltd. was established in 1999 and primarily engages in the automotive manufacturing industry, with a registered capital of 1.725 billion yuan [1] Group 3 - The company has made investments in 16 enterprises and participated in 1,507 bidding projects [2] - It holds 168 trademark registrations and 913 patents, along with 45 administrative licenses [2]

Core Viewpoint - The recent financial report of Shan Gu Power (601369) indicates a decline in both revenue and net profit for the first half of 2025 compared to the previous year, raising concerns about the company's financial health and operational efficiency [1]. Financial Performance - Total revenue for the first half of 2025 was 4.869 billion yuan, a decrease of 2.7% year-on-year [1]. - Net profit attributable to shareholders was 414 million yuan, down 9.75% year-on-year [1]. - In Q2 2025, total revenue was 2.31 billion yuan, reflecting an 8.03% decline year-on-year [1]. - Q2 net profit attributable to shareholders was 166 million yuan, a significant drop of 25.82% year-on-year [1]. - Gross margin was 20.65%, down 11.35% year-on-year, while net margin was 9.77%, a decrease of 6.01% year-on-year [1]. Cash Flow and Debt - Operating cash flow per share was 0.14 yuan, a substantial decrease of 58.3% year-on-year [1]. - The company's receivables were notably high, with accounts receivable accounting for 378.4% of the latest annual net profit [1][4]. - The company reported a decrease in interest-bearing debt to 4.214 billion yuan, down 18.89% year-on-year [1]. Investment Metrics - The company's return on invested capital (ROIC) was 6.61%, indicating a generally weak capital return [4]. - The average ROIC over the past decade was 6.05%, with the lowest recorded at 2.92% in 2016 [4]. - The net profit margin for the previous year was 11.14%, suggesting average value addition from products or services [4]. Shareholder Information - The largest fund holding Shan Gu Power is the Guolian State-owned Enterprise Reform Mixed Fund, with 1.13 billion yuan in assets and a recent net value increase of 0.8% [5]. - Other funds have also increased their holdings or entered the top ten shareholders, indicating some level of investor interest despite the recent financial performance [5].

Core Viewpoint - The company's H1 2025 performance showed a decline in revenue but an increase in net profit, indicating mixed operational results amid challenging market conditions [1] Financial Performance - In H1 2025, the company achieved total revenue of 4.87 billion, a year-on-year decrease of 2.7% [1] - The net profit attributable to shareholders was 410 million, reflecting a year-on-year increase of 9.8% [1] - In Q2 2025, the company reported total revenue of 2.31 billion, down 8.0% year-on-year [1] Operational Analysis - The underperformance in revenue is attributed to declining prices in steel and chemical products, leading to weakened capital expenditure demand and increased competition [1] - The China Chemical Product Price Index fell by 9.7% year-on-year in H1 2025 [1] - The Shanghai rebar price also experienced a decline during the same period [1] - The gas business continues to grow, with stable profitability; H1 2025 revenue from energy infrastructure operations reached 2.21 billion, up 18% year-on-year [1] Profit Forecast and Valuation - The company forecasts net profit attributable to shareholders for 2025, 2026, and 2027 to be 910 million, 940 million, and 990 million respectively, representing year-on-year growth of 13.1%, 3.5%, and 6.0% [1] - The current price-to-earnings (PE) ratios are projected to be 17, 17, and 16 times for the years 2025, 2026, and 2027 [1] - The company maintains a "buy" rating based on these projections [1]

Core Viewpoint - The recent financial report of Shan Gu Power (601369) indicates a decline in both revenue and net profit for the first half of 2025 compared to the previous year, raising concerns about the company's financial health and operational efficiency [1][3]. Financial Performance - Total revenue for the first half of 2025 was 4.869 billion yuan, a decrease of 2.7% year-on-year [1]. - Net profit attributable to shareholders was 414 million yuan, down 9.75% year-on-year [1]. - In Q2 2025, total revenue was 2.31 billion yuan, reflecting an 8.03% decline year-on-year, while net profit was 166 million yuan, a significant drop of 25.82% [1]. - Gross margin stood at 20.65%, down 11.35% year-on-year, and net margin was 9.77%, a decrease of 6.01% [1]. - The company's operating cash flow per share was 0.14 yuan, a substantial decline of 58.3% year-on-year [1]. Accounts Receivable and Debt - The accounts receivable amount was notably high, with accounts receivable to net profit ratio reaching 378.4% [1][3]. - Interest-bearing debt decreased to 4.214 billion yuan, down 18.89% year-on-year [1]. Investment Returns - The company's Return on Invested Capital (ROIC) for the previous year was 6.61%, indicating generally weak capital returns [3]. - Historical data shows a median ROIC of 6.05% over the past decade, with the lowest recorded ROIC at 2.92% in 2016 [3]. Fund Holdings - The largest fund holding Shan Gu Power is the Guolian State-owned Enterprise Reform Mixed A fund, with 1.13 billion yuan in assets and a recent net value increase of 0.8% [4]. - Several funds have increased their holdings or entered the top ten shareholders list, indicating some level of investor interest despite the company's recent performance [4].