北京市金杜律师事务所 关于浙江正泰电器股份有限公司 2025 年第四次临时股东会 的法律意见书 致：浙江正泰电器股份有限公司 北京市金杜律师事务所（以下简称本所）接受浙江正泰电器股份有限公司（以 下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券法》）、《中 华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员会《上市公 司股东会规则》（以下简称《股东会规则》）等中华人民共和国境内（以下简称中 国境内，为本法律意见书之目的，不包括中国香港特别行政区、中国澳门特别行 政区和中国台湾省）现行有效的法律、行政法规、规章和规范性文件和现行有效 的《浙江正泰电器股份有限公司章程》（以下简称《公司章程》）有关规定，指派 律师出席了公司于 2025 年 12 月 26 日召开的 2025 年第四次临时股东会（以下简 称本次股东会），并就本次股东会相关事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 经公司 2024 年年度股东大会审议通过的《公司章程》； 2. 公司于 2025 年 12 月 2 日刊登于巨潮资讯网及上海证券交易所网站的《浙 江正泰电 ...

Group 1 - The core viewpoint of the article is that the recent surge in photovoltaic component prices is both inevitable and a result of rising costs in the supply chain, particularly due to the increase in silver prices [8] - Major manufacturers such as Longi and JA Solar have initiated price increases of 2-4 cents, followed by Trina Solar raising prices by 5-6 cents, Tongwei by 3-4 cents, and others, leading to a general increase in component prices to 0.70 yuan/W or higher [2] - The price increase has created tension in the downstream solar power station sector, which is struggling to accept the higher costs due to declining profitability from the implementation of policy 136 [2][6] Group 2 - Many smaller component manufacturers are hesitant to raise prices due to fears of contract cancellations, as evidenced by reports of contracts being voided shortly after agreements were made [3][4] - The primary reason given by component manufacturers for the price hikes is the soaring cost of silver paste, which has become the largest cost component in solar modules, accounting for 17% of total costs [6][7] - The current situation presents a dilemma where rising production costs compel manufacturers to increase prices, while reduced profitability for solar power stations makes it difficult for investors to accept these price hikes [7]

Group 1 - The Export-Import Bank of Zhejiang Province has successfully executed its first non-financing guarantee business for the financial company of Chint Group, marking a significant milestone as it is the first time the bank has provided guarantee services for a private enterprise financial company [1][3] - This transaction involves a cross-border performance guarantee for an EPC project related to the reconstruction of an electric grid in Uzbekistan, specifically for Chint Electric, a subsidiary of Chint Group [3] - The bank established an efficient collaboration mechanism with the enterprise, utilizing standardized processes and specialized risk control cooperation to ensure the successful execution of the business [3] Group 2 - The bank aims to continue innovating financial service models and enhancing its role in providing diversified financial support for enterprise development, in line with its commitment to serving the real economy [3]

Core Insights - Qinghai aims to establish itself as a national hub for clean energy, focusing on high-quality economic development through clean energy initiatives [1] - The collaboration between Qinghai and Chint Group is expected to deepen in areas such as new energy storage, hydrogen energy, and energy digitalization [1] - Chint Group plans to leverage Qinghai's resource advantages to enhance practical cooperation in zero-carbon parks and green technology innovation during the 14th Five-Year Plan [1] Group 1 - Qinghai is prioritizing the development of clean energy as a key task for economic growth, with significant advancements in ultra-high voltage transmission and green electricity [1] - The province's clean energy and new energy installations rank among the top in the country, indicating a strong foundation for future growth [1] - The partnership with Chint Group is seen as a way to convert resource advantages into industrial strengths, contributing to national carbon neutrality goals [1] Group 2 - Chint Group's chairman expressed a commitment to high-standard project implementation and aims to involve more Zhejiang-based enterprises in Qinghai's development [1] - The collaboration is aligned with the strategic direction of both Qinghai and Chint Group, focusing on sustainability and technological advancement [1] - The meeting highlights the potential for significant cooperation in the clean energy sector, particularly in innovative technologies and sustainable practices [1]

Core Insights - The voltage stabilizer market in China is projected to grow from 17 billion yuan in 2020 to 22.2 billion yuan by 2024, with a compound annual growth rate (CAGR) of 6.9% [1][9] - The growth is driven by advancements in technology, government support for power infrastructure, and emerging application areas [1][9] Industry Overview - Voltage stabilizers are essential devices that automatically adjust output voltage to provide stable and reliable power for various electronic devices [3][9] - They are classified into linear and switching voltage stabilizers, with switching stabilizers being more efficient and suitable for high-power demands [3][10] Market Size and Growth - The market size for voltage stabilizers in China is expected to reach 23.4 billion yuan by 2025 [1][9] - The linear voltage stabilizer market is projected to grow to 10.893 billion yuan, while the switching stabilizer market is expected to reach 12.507 billion yuan by 2025 [11] Industry Policies - The Chinese government has implemented policies to support the growth of the voltage stabilizer industry, including the "Power Equipment Industry Growth Work Plan (2023-2024)" aiming for an average annual revenue growth of over 9% [4][5] Competitive Landscape - Major companies like Zhejiang Chint Electric, ST Yishite, and Tianzheng Electric dominate the market, leveraging scale and service networks [12][14] - Smaller companies focus on niche markets to establish unique advantages [12] Industry Trends - There is a growing demand for energy-efficient and low-loss voltage stabilizers due to increasing energy efficiency standards [16] - The integration of smart and digital features is transforming voltage stabilizers from passive devices to active power management nodes [17] - Customization and modular design are becoming essential to meet diverse market needs across different industries [18]

Core Viewpoint - The keyword "breaking the cycle" has become the strongest theme for the 2025 photovoltaic industry annual conference, emphasizing the need for high-quality development and the rejection of vicious competition in the industry [1][3]. Group 1: Industry Transformation - The photovoltaic industry is urged to move away from "involution" and focus on high-quality development, requiring collaboration among industry authorities, local governments, associations, media, and financial institutions [3]. - The essence of addressing "involution" is to promote competition based on technology and quality rather than price wars, as highlighted by industry leaders [3][4]. - There is a consensus that companies must rely on independent innovation and original technology to enhance product standards and quality, while the market should raise entry barriers to support advanced products [4][7]. Group 2: Global Supply Chain Resilience - The global trade environment is becoming increasingly complex, posing new challenges for Chinese photovoltaic companies as they seek to expand internationally [6]. - Companies are encouraged to shift from simple product output to creating value, building a more resilient global supply chain [6]. - Key agreements among industry leaders include raising export standards for photovoltaic products, integrating advanced technology and ESG performance into financial assessments, and establishing stricter quality standards with international recognition [7]. Group 3: Future Growth and Market Dynamics - The photovoltaic industry is transitioning from a phase of rapid installation to one focused on high-quality consumption and market-driven growth [9]. - The role of photovoltaic energy is becoming more prominent in the new power system, necessitating solutions for intermittency and demand-side response through "photovoltaic + energy storage" models [9]. - Despite current challenges, industry leaders maintain an optimistic outlook for the future, anticipating breakthroughs in quality and sustainability supported by policy and market forces [10].

Core Viewpoint - Zhejiang Chint Electrics Co., Ltd. has shown a significant increase in stock price this year, with a year-to-date rise of 25.68%, despite a slight decline in the last five trading days [1][3]. Group 1: Company Overview - Chint Electrics was established on August 5, 1997, and went public on January 21, 2010. The company specializes in low-voltage electrical equipment, including distribution, terminal, control, and power electronics, as well as solar energy products and EPC engineering [2]. - The main revenue sources for Chint Electrics include solar power station engineering contracting (32.76%), power station operation (18.79%), and terminal electrical products (13.01%) [2]. Group 2: Financial Performance - As of September 30, 2025, Chint Electrics reported a revenue of 46.396 billion yuan, a slight decrease of 0.03% year-on-year, while net profit attributable to shareholders increased by 19.49% to 4.179 billion yuan [3]. - The company has distributed a total of 15.65 billion yuan in dividends since its A-share listing, with 3.319 billion yuan distributed over the past three years [4]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Chint Electrics was 85,600, a decrease of 3.19% from the previous period, with an average of 25,114 circulating shares per shareholder, an increase of 3.30% [3]. - The third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 123 million shares, a decrease of 8.4353 million shares from the previous period [4].

浙江正泰电器股份有限公司 601877 2025 年第四次临时股东会会议资料 二〇二五年十二月二十六日 2025 年第四次临时股东会会议资料 浙江正泰电器股份有限公司 2025 年第四次临时股东会现场会议议程 | 序号 | | 议案名称 | | --- | --- | --- | | 非累积投票议案 | | | | 1 | 《关于为参股公司提供担保的议案》 | | | 2 | 《关于 2026 | 年度日常关联交易预测的议案》 | | 3 | 《关于 2026 | 年度预计向关联方采购光伏组件的议案》 | 五、 股东逐项审议并填写表决票，股东及代理人若需质询，经会议主持人同意 可进行发言 六、 计票人、监票人和工作人员统计现场表决情况 七、 会议主持人宣布现场会议表决结果 1 一、 报告出席现场会议的股东及代理人人数、代表股份总数 二、 介绍应邀到会的来宾 三、 宣读《关于监票人和计票人的提名》，并对提名进行举手表决 四、 听取并审议公司议案 2025 年第四次临时股东会会议资料 浙江正泰电器股份有限公司 2025 年第四次临时股东会会议须知 一、 会议召开情况 (一) 会议召开方式： 1、 为便于本公司股东 ...

人民财讯12月18日电，企查查APP显示，近日，宣城国泰开盛正泰绿色私募股权投资基金合伙企业(有 限合伙)成立，出资额7亿元，经营范围包含以私募基金从事股权投资、投资管理、资产管理等活动。企 查查股权穿透显示，该合伙企业由国泰君安创新投资有限公司、正泰电器（601877）旗下浙江正泰新能 源开发有限公司等共同持股。 ...

人民财讯12月17日电，万隆光电（300710）12月17日公告，公司拟通过发行股份及支付现金方式，购买 汇格合伙、正泰电器（601877）、云吟合伙、智格合伙等17名交易对方合计持有的中控信息100%股 份，并向公司实际控制人付小铜发行股份募集配套资金。标的公司的主营业务为为城市交通、轨道交 通、公路交通、水环境、建筑智能体等基础设施领域客户提供数智化技术与产品服务。公司股票将于 2025年12月18日(星期四)开市起复牌。 ...