Group 1 - The core viewpoint of the articles highlights Samsung Medical's current market performance, including a closing price of 21.5 yuan, a decline of 2.93%, and a rolling PE ratio of 12.72 times, with a total market capitalization of 30.337 billion yuan [1][2] - The average PE ratio for the electric grid equipment industry is 37.78 times, with a median of 39.13 times, positioning Samsung Medical at the 35th rank within the industry [1][2] - As of the first quarter of 2025, 14 institutions hold shares in Samsung Medical, with a total of 42.8023 million shares valued at 960 million yuan [1] Group 2 - For the first quarter of 2025, Samsung Medical reported an operating income of 3.631 billion yuan, representing a year-on-year increase of 20.03%, and a net profit of 489 million yuan, reflecting a year-on-year growth of 34.33%, with a sales gross margin of 28.90% [2] - The company's PE (TTM) is 12.72, while the industry average is 37.78, indicating a significant undervaluation compared to peers [2] - Samsung Medical's main business segments include smart power distribution, medical services, and various products such as smart meters, high-end gateway meters, and energy storage systems [1]

Investment Rating - The investment rating for the AIDC power equipment and grid industry is "Outperform the Market" (maintained) [1] Core Viewpoints - The global AI computing load is expected to grow significantly, with new AI computing loads projected at 9.7/15.9/20.2/22.3/23.4/24.6 GW from 2025 to 2030. This translates to a demand for AIDC power equipment of 29/48/60/67/70/74 GW, with an average annual growth rate of 20% [5][13] - The market potential for dry-type transformers, medium and low voltage switchgear, UPS, HVDC, and solid-state transformers is estimated to reach 85/341/41/380/239 billion yuan by 2030 [5][12] - The domestic data center industry is expected to see increased capital expenditure from major cloud providers, with 2025 anticipated to be a pivotal year for AIDC construction [5][18] Summary by Sections AIDC Power Equipment - The AIDC power equipment sector has shown a diverse range of products, with major global players like Vertiv, Eaton, and Schneider Electric having established strong product lines and solutions [5] - Domestic companies are gaining competitive advantages in various segments, with leading firms gradually building their solution-providing capabilities [5] - The recent performance of the AIDC power equipment sector has been mixed, with notable declines in backup diesel power sources and lead-acid batteries [5][24] Grid Industry - The grid sector has seen significant investment growth, with national grid engineering investment reaching 632 billion yuan in May 2025, a year-on-year increase of 33.3% [31][32] - The bidding results for high-voltage equipment have shown a strong performance, with a total bid amount of 211.89 billion yuan in July 2025, reflecting a year-on-year increase of 38.1% [64] - The grid industry is expected to benefit from the maturation of new business models such as electricity trading and virtual power plants, with a focus on high-voltage orders and deliveries in the second half of 2025 [5][58]

Group 1 - Samsung Medical (601567) closed at 22.73 yuan on July 11, 2025, up 3.04% from the previous week's 22.06 yuan, with a weekly high of 23.56 yuan and a low of 21.82 yuan [1] - The current total market capitalization of Samsung Medical is 32.072 billion yuan, ranking 8th out of 121 in the power grid equipment sector and 473rd out of 5149 in the A-share market [1] Group 2 - The company announced the repurchase and cancellation of 41,800 restricted stocks for 5 departing incentive recipients, as they no longer meet the incentive conditions [1] - The repurchase prices for the restricted stocks are 5.59 yuan/share for the first grant of the fourth phase, 4.75 yuan/share for the reserved grant of the fourth phase, 5.35 yuan/share for the first grant of the fifth phase, and 4.75 yuan/share for the reserved grant of the fifth phase [1] - The total repurchase amount is 207,694 yuan, funded entirely by the company's own capital, and following the cancellation, the registered capital will decrease from 1,411,006,571 yuan to 1,410,964,771 yuan [1]

Summary of Key Points Core Viewpoint The company, Ningbo SANSING Medical Electric Co., Ltd., has announced a plan to repurchase and cancel a portion of the restricted stock granted to certain incentive targets who no longer meet the eligibility criteria due to their departure from the company. This decision was made during board meetings and is in accordance with the company's stock incentive plan regulations. Group 1: Repurchase and Cancellation Details - The company will repurchase and cancel a total of 41,800 shares of restricted stock from five incentive targets who have left the company [1][15][19] - The repurchase price for the fourth phase of the restricted stock is set at 7.48 CNY per share, while for the fifth phase, it is 7.24 CNY per share [4][11] - The total amount to be paid for the repurchase is 207,694 CNY, which will be sourced from the company's own funds [18] Group 2: Implementation of Incentive Plans - The fourth phase of the restricted stock incentive plan involved granting 14,463,500 shares to 189 eligible targets, with the first grant date set for December 20, 2021 [3][10] - The fifth phase of the incentive plan granted 7,622,000 shares to 159 eligible targets, with the first grant date set for March 2, 2022 [10][11] - The company has conducted necessary internal reviews and public disclosures regarding the incentive targets and their eligibility [2][9] Group 3: Impact on Company Structure - Following the repurchase, the total number of shares will decrease from 1,411,006,571 to 1,410,964,771 [18] - The repurchase will not have a significant impact on the company's financial status or operational results [18][19] - The company will continue to fulfill its responsibilities to create value for shareholders despite the changes in stock structure [18]

证券代码：601567 证券简称：三星医疗 公告编号：临 2025-055 宁波三星医疗电气股份有限公司 关于回购注销部分第四期及第五期限制性股票激励计划限 制性股票通知债权人的公告 1、债权申报登记地点：宁波市鄞州工业园区（宁波市鄞州区姜山镇）公司 董事会办公室 2、申报时间：2025 年 7 月 12 日至 2025 年 8 月 25 日 宁波三星医疗电气股份有限公司（以下简称"公司"）回购注销部分第四期 及第五期限制性股票的相关议案，已经 2025 年 7 月 11 日召开的公司第六届董事 会第二十四次会议审议通过，详见刊登于 2025 年 7 月 12 日上海证券交易所网站 （http://www.sse.com.cn）及《上海证券报》《中国证券报》《证券时报》的相 关公告。根据回购议案，对公司 5 名激励对象已获授但尚未解除限售的股份全部 进行回购注销。其中，第四期限制性股票激励计划已获授但尚未解除限售的首次 授予的限制性股票数量为 3,600.00 股，回购价格为 5.59 元/股；第五期限制性股 票激励计划已获授但尚未解除限售的首次授予的限制性股票数量为 10,200.00 股，回购价格为 5. ...

限制性股票的公告 证券代码：601567 证券简称：三星医疗 公告编号：临 2025-054 宁波三星医疗电气股份有限公司 关于拟回购注销部分激励对象已获授但尚未解除限售的 第四期及第五期限制性股票激励计划 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。 宁波三星医疗电气股份有限公司（以下简称"公司"）于2025年7月11日召 开第六届董事会第二十四次会议、第六届监事会第十九次会议，审议通过了《关 于回购注销部分激励对象已获授但尚未解除限售的第四期、第五期限制性股票的 议案》。鉴于公司第四期、第五期限制性股票激励计划中5名激励对象因离职已 不符合激励条件，根据公司第四期、第五期《限制性股票激励计划（草案）》的 相关约定，董事会同意将上述5名激励对象已获授但尚未解除限售的41,800.00股 限制性股票全部进行回购注销。公司董事会将依据相关规定办理限制性股票的回 购注销手续并及时履行信息披露义务。现将有关事项说明如下： 一、公司限制性股票激励计划概述 （一）公司第四期限制性股票激励计划实施情况 1、2021 年 11 月 17 ...

上海市锦天城律师事务所 关于宁波三星医疗电气股份有限公司 回购注销部分激励对象已获授但尚未解除限售的 第四期、第五期限制性股票相关事宜的 上海市锦天城律师事务所 法律意见书 关于宁波三星医疗电气股份有限公司 回购注销部分激励对象已获授但尚未解除限售的 第四期、第五期限制性股票相关事宜的 锦 天 城 律师事务 所 ALLBRIGHT LAW OFFICES 法律意见书 地址： 上海市浦东新区银城中路 501 号上海中心大厦 11/12 楼 电话: 021-20511000 传真: 021-20511999 邮编: 210020 上进市锦天城律师事务所 法律意见书 3、本所及经办律师仅就公司本次回购注销相关法律事宜发表意见，并不对 上海市锦天城律师事务所 法律意见书 会计、审计等专业事项发表意见,本所及经办律师不具备对该等专业事项进行核 查和作出判断的合法资格。本所及经办律师在本法律意见书中对与该等专业事项 有关的报表、数据或对会计报告、审计报告等专业报告内容的引用,不意味着本 所及经办律师对这些引用内容的真实性、有效性作出任何明示或默示的保证。 4、公司已保证其向本所提供的与本法律意见书相关的信息、文件或资料均 ...

证券代码：601567 证券简称：三星医疗 公告编号：临 2025-053 表决结果：3 票赞成、0 票反对、0 票弃权。 特此公告。 宁波三星医疗电气股份有限公司 监事会 宁波三星医疗电气股份有限公司（以下简称"公司"）于 2025 年 7 月 4 日以电 话、传真、邮件等方式发出召开第六届监事会第十九次会议的通知，会议于 2025 年 7 月 11 日在公司会议室以现场结合通讯方式召开。会议应到监事 3 人，实到监事 3 人，会议由监事会主席郑伟科先生主持，会议的召集和召开符合《公司法》和《公 司章程》的有关规定。经与会监事认真审议并表决，通过了以下议案，形成决议如 下： 一、审议通过了关于回购注销部分激励对象已获授但尚未解除限售的第四期、 第五期限制性股票的议案 详见公司披露于上海证券交易所网站（www.sse.com.cn）的《三星医疗关于拟回 购注销部分激励对象已获授但尚未解除限售的第四期及第五期限制性股票激励计划 限制性股票的公告》（公告编号：临 2025-054）。 二〇二五年七月十二日 宁波三星医疗电气股份有限公司 第六届监事会第十九次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任 ...

一、审议通过了关于回购注销部分激励对象已获授但尚未解除限售的第四期、 第五期限制性股票的议案 证券代码：601567 证券简称：三星医疗 公告编号：临 2025-052 宁波三星医疗电气股份有限公司 第六届董事会第二十四次会议决议公告 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、准确性和完整性依法承担法律责任。 宁波三星医疗电气股份有限公司（以下简称"公司"）于 2025 年 7 月 4 日以电 话、传真、邮件等方式发出召开第六届董事会第二十四次会议的通知，会议于 2025 年 7 月 11 日在公司会议室以现场结合通讯方式召开。本次会议应到董事 9 人，实到 董事 9 人。会议由董事长沈国英女士主持，公司监事和其他高级管理人员列席了会 议，会议的召集和召开符合《公司法》和《公司章程》的有关规定。经与会董事认 真审议并表决，通过了以下议案，形成决议如下： 宁波三星医疗电气股份有限公司 董事会 二〇二五年七月十二日 详见公司披露于上海证券交易所网站（www.sse.com.cn）的《三星医疗关于拟回 购注销部分激励对象已获授但尚未解除限售的第四期及第五期 ...

Company Overview - Samsung Medical's closing price on July 8 was 23.12 yuan, up 4.05%, with a rolling PE ratio of 13.68, marking a new low in 21 days and a total market capitalization of 32.622 billion yuan [1] - The company ranks 37th in the electric grid equipment industry, which has an average PE ratio of 37.41 and a median of 39.14 [1] Financial Performance - For the first quarter of 2025, Samsung Medical reported revenue of 3.631 billion yuan, a year-on-year increase of 20.03%, and a net profit of 489 million yuan, up 34.33% year-on-year, with a gross profit margin of 28.90% [2] - The company has 101 institutional holders, including 99 funds, with a total holding of 614.071 million shares valued at 18.158 billion yuan [1] Product and Services - Samsung Medical's main business segments include smart power distribution and medical services, with key products such as smart meters, high-end gateway meters, smart terminals, power boxes, communication modules, and various integrated solutions [1] - The company has received multiple accolades, including being recognized as a national-level intellectual property demonstration enterprise and a provincial key enterprise research institute [1]