信息披露事务管理办法 深圳市禾望电气股份有限公司 （一） 公司董事会秘书和董事会办公室； （二） 公司董事和董事会； 1 信息披露事务管理办法 信息披露事务管理办法 第一章 总则 第一条 为提高深圳市禾望电气股份有限公司（以下简称"公司"）信息披 露工作质量和规范信息披露程序，确保公司对外信息披露工作的真实性、准确性、 及时性，保护公司、股东、债权人及其他利益相关者的合法权益，根据《中华人 民共和国公司法》《中华人民共和国证券法》（以下简称"《证券法》"）《上 市公司治理准则》《上市公司信息披露管理办法》《上海证券交易所股票上市规 则》（以下简称"《上市规则》"）、中国证券监督管理委员会（以下简称"中 国证监会"）和上海证券交易所（以下简称"上交所"）的相关规定，结合本公 司的实际，制定本办法。 第二条 本办法所称信息披露是指将可能对公司证券及证券衍生品种价格产 生重大影响而投资者尚未得知的重大信息及证券监管部门要求披露的信息，在规 定时间内，通过规定的媒体，以规定的方式向社会公众公布的行为。 第三条 公司董事会办公室在董事会秘书的领导下具体负责公司的信息披露 事宜，为公司信息披露的常设机构。董事会秘书负责组 ...

独立董事专门会议制度 深圳市禾望电气股份有限公司 第六条 独立董事专门会议由过半数独立董事共同推举一名独立董事召集和主 持。 第七条 独立董事专门会议的表决，实行一人一票。表决方式为记名投票表决。 第八条 独立董事专门会议可通过现场、通讯方式或现场与通讯相结合等方式 召开。 第九条 独立董事原则上应该亲自出席会议，如有特殊情况，也可以委托其他 独立董事代为出席会议并行使表决权。独立董事委托其他独立董事代为出席会议并 行使表决权的，应向会议主持人提交授权委托书。授权委托书应于会议表决前提交 1 / 4 独立董事专门会议制度 第一条 为进一步完善深圳市禾望电气股份有限公司（以下简称"公司"）的 法人治理结构，充分发挥独立董事在公司治理中的作用，根据《中华人民共和国公 司法》（以下简称"《公司法》"）《上市公司治理准则》《上市公司独立董事管 理办法》《公司章程》等其他有关规定并结合公司实际情况，制定本制度。 第二条 独立董事是指不在公司担任除董事外的其他职务，并与公司及其主要 股东、实际控制人不存在直接或间接利害关系，或者其他可能影响其进行独立客观 判断关系的董事。 第三条 独立董事对公司及全体股东负有忠实与勤勉义 ...

在公司股东会审议通过取消监事会事项之前，公司第四届监事会仍将严格 按照有关法律、法规和《公司章程》的规定继续履行监督职能，维护公司和全 体股东利益。 二、《公司章程》修订情况 证券代码：603063 证券简称：禾望电气 公告编号：2025-097 深圳市禾望电气股份有限公司 关于取消监事会并修订《公司章程》及修订、制定 部分治理制度的公告 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。 深圳市禾望电气股份有限公司（以下简称"公司"）于 2025 年 11 月 11 日召开 2025 年第六次临时董事会会议，审议通过了《关于取消监事会并修订< 公司章程>的议案》及《关于修订、制定部分治理制度的议案》，同日召开的 2025 年第六次临时监事会会议，审议通过了《关于取消监事会并修订<公司章 程>的议案》。具体情况如下： 一、取消监事会情况 根据《公司法》《上市公司章程指引》等有关法律法规的规定，结合公司 实际情况，公司将不再设置监事会和监事，由董事会审计委员会行使《公司法》 规定的监事会职权，同时废止公司《监事会议事规则》，公司各项 ...

证券代码：603063 证券简称：禾望电气 公告编号：2025-098 深圳市禾望电气股份有限公司 关于召开2025年第二次临时股东会的通知 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： 股东会召开日期：2025年11月28日 本次股东会采用的网络投票系统：上海证券交易所股东大会网络投票系 统 一、 召开会议的基本情况 (一) 股东会类型和届次 2025年第二次临时股东会 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相 结合的方式 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 11 月 28 日 14 点 00 分 网络投票起止时间：自2025 年 11 月 28 日 至2025 年 11 月 28 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互联 网投票平台的投票时间为股东会召开当日的 9:15-15:00。 ...

证券代码：603063 证券简称：禾望电气 公告编号：2025-096 1、深圳市禾望电气股份有限公司（以下简称"公司"）2025 年第六次临时 监事会会议（以下简称"本次会议"）的召开符合《中华人民共和国公司法》（以 下简称"《公司法》"）《上海证券交易所股票上市规则》等相关法律、行政法 规、规范性文件及《深圳市禾望电气股份有限公司章程》（以下简称"《公司章 程》"）的有关规定； 2、公司于 2025 年 11 月 5 日以电子邮件、电话等方式向监事发出监事会会 议通知； 3、本次会议于 2025 年 11 月 11 日以通讯方式召开； 4、本次会议应参会监事 3 名，实际参会监事 3 名； 5、本次监事会会议由监事会主席陈云刚先生主持。 深圳市禾望电气股份有限公司 2025 年第六次临时监事会会议决议公告 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。 一、 监事会会议召开情况 表决结果：同意票3票，反对票0票，弃权票0票。 2025 年 11 月 12 日 特此公告。 深圳市禾望电气股份有限公司监事会 二、 监事会会议审 ...

2、公司于 2025 年 11 月 5 日以电子邮件、电话等方式向董事发出董事会会 议通知； 证券代码：603063 证券简称：禾望电气 公告编号：2025-095 深圳市禾望电气股份有限公司 2025 年第六次临时董事会会议决议公告 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、准确性和完整性承担法律责任。 一、 董事会会议召开情况 1、深圳市禾望电气股份有限公司（以下简称"公司"）2025 年第六次临时 董事会会议（以下简称"本次会议"）的召开符合《中华人民共和国公司法》（以 下简称"《公司法》"）《上海证券交易所股票上市规则》等相关法律、行政法 规、规范性文件及《深圳市禾望电气股份有限公司章程》（以下简称"《公司章 程》"）的有关规定； 3、本次会议于 2025 年 11 月 11 日以通讯方式召开； 4、本次会议应参会董事 5 名，实际参会董事 5 名； 5、本次会议由董事长韩玉先生主持，部分高级管理人员列席会议。 二、 董事会会议审议情况 （一）审议通过《关于取消监事会并修订<公司章程>的议案》 为进一步完善公司治理结构，促进公司规范运作，根据 ...

Core Insights - The company Hewei Electric (603063.SH) announced the implementation of a share reduction plan by several key individuals [1] Share Reduction Details - Mr. Wang Yan reduced his holdings by 786,500 shares - Mr. Zhou Dangsheng reduced his holdings by 1,006,800 shares - Mr. Xiao Anbo reduced his holdings by 946,000 shares - Mr. Chen Wenfeng reduced his holdings by 55,000 shares [1] Current Shareholding Status - As of the announcement date, Mr. Wang Yan holds 2,464,100 shares, accounting for 0.5382% of the total share capital - Mr. Zhou Dangsheng holds 3,453,600 shares, accounting for 0.7544% of the total share capital - Mr. Xiao Anbo holds 2,838,000 shares, accounting for 0.6199% of the total share capital - Mr. Chen Wenfeng holds 165,500 shares, accounting for 0.0362% of the total share capital [1]

1. Report Industry Investment Rating There is no information provided in the report regarding the industry investment rating. 2. Core Viewpoints of the Report - This week, zinc prices were driven by LME at the beginning of the week, with SHFE zinc breaking through upwards and then maintaining high - level oscillations. The macro - sentiment is neutral this week. The US government shutdown makes it difficult to predict subsequent interest rate cuts due to data shortages, and Powell's hawkish speech reduces the expectation of interest rate cuts. Although some US economic data shows weakness, the ADP data slightly eases labor concerns. The US dollar index breaks through 100 due to liquidity tightness, suppressing the upside of non - ferrous metals [2]. - Fundamentally, on the supply side, domestic smelters' winter storage is not over, and raw materials are tight in the short term. TC is under pressure, slightly suppressing the willingness to start production, but refined zinc production is still at a historical high, with a projected slight decline in November. Overseas, refined zinc remains in a tight supply pattern, and LME inventories continue to decline. On the demand side, there is no suitable driving force in the short term, and it remains stable. Looking ahead, although the supply is still stronger than demand, there is expected to be some improvement in November due to the opening of the export window and the compression of smelting profits. It is expected to be mainly in a relatively strong oscillatory pattern, so attention should be paid to macro data and the supply - demand game [2]. 3. Summary According to the Table of Contents 3.1 Core Contradictions and Strategy Recommendations 3.1.1 Core Contradictions - **Macro - level**: The US government shutdown affects interest rate cut predictions. Powell's hawkish speech reduces the expectation of interest rate cuts. US economic data shows mixed signals, and the high - level oscillation of the US dollar index suppresses non - ferrous metals [2]. - **Fundamental - level**: - **Supply**: Domestic smelters' winter storage leads to short - term raw material tightness. TC decline may slightly suppress production start - up in November, but production is still at a high level. Overseas, supply is tight, and LME inventories are decreasing. - **Demand**: There is no short - term driving force, remaining stable. In the near - term, the zinc market's fundamentals are mixed. In the long - term, macro factors are generally optimistic, but the demand side needs support from infrastructure and real estate [2][5][7]. 3.1.2 Trading - type Strategy Recommendations - **Market Positioning**: The current SHFE zinc main contract is in a relatively strong oscillatory pattern, with potential upward drivers influenced by exports and macro factors. The pressure level is around 23,000 yuan/ton, and the support level is around 22,200 yuan/ton. The trading volume and open interest are neutral [10][11]. - **Short - term Futures Strategy**: High - sell and low - buy within the range. Lightly go long around 22,200 - 22,300 yuan/ton with a stop - loss around 22,100 yuan/ton; go short around 22,900 - 23,000 yuan/ton with a stop - loss around 23,100 yuan/ton. Due to the strong prediction of zinc prices in November, short - selling is not recommended for now [11]. - **Short - term Options Strategy**: Mainly adopt the option double - selling strategy [11]. - **Basis, Calendar Spread, and Hedging Arbitrage Strategy Recommendations**: - **Basis Strategy**: Although the current basis is at a historical low, due to weak fundamentals, going long on the basis is not recommended. - **Calendar Spread Strategy**: There is currently no recommendation. - **Hedging Arbitrage Strategy**: With the strong overseas and weak domestic market, the internal - external price difference is expanding. Consider cross - market arbitrage, specifically selling overseas and buying domestically, and it is advisable to enter the market now [12]. 3.1.3 Industrial Customer Operation Recommendations - **Short - term Futures Strategy**: It has been continuously profitable, and the point prediction has been accurate in the past two weeks. - **Options Strategy**: Adopt the wide - straddle options strategy. - **Internal - External Arbitrage Strategy**: It is advisable to enter the market. - **Zinc Risk Management Recommendations**: - **Inventory Management**: For high finished - product inventory, worry about price drops. Sell 75% of the SHFE zinc main contract at 22,700 yuan/ton. - **Raw Material Management**: For low raw - material inventory, worry about price increases. Buy 50% of the SHFE zinc main contract at 21,700 yuan/ton [17][18]. 3.2 This Week's Important Information and Next Week's Attention Events 3.2.1 This Week's Important Information - **Positive Information**: SHFE zinc inventories are decreasing; domestic processing fees TC are accelerating their decline; the export window for domestic zinc ingots is open, and SMM predicts an export volume of about 10,000 tons in October; LME inventories are continuously decreasing; LME spot premiums remain at a high level [19][20]. - **Negative Information**: The downstream开工率 in the domestic market is declining, and the domestic spot premium is weak, reflecting weak actual demand [21]. 3.2.2 Next Week's Important Events to Watch - **Chinese Data and Events**: China's October M2/social financing data (expected to be announced between the 10th and 13th); SMM/Mysteel domestic social inventory update on the 10th; SHFE/SMM weekly inventory data on the 14th. - **International Data and Events**: US October PPI and retail sales data; speeches by multiple Fed officials on inflation and employment; actual changes in China's export volume and LME inventories (especially Asian warehouses) [23]. 3.3 Disk Interpretation 3.3.1 Price - Volume and Fund Interpretation - **Internal Market**: Zinc prices oscillated at a high level this week, closing at 22,720 yuan/ton. Profitable positions are mainly long in net positions. The domestic basis - calendar spread structure is stable, and the SHFE zinc term structure maintains a C structure [24][26]. - **External Market**: LME zinc was relatively strong this week, closing at 3,057.5 US dollars/ton. Investment companies and credit institutions hold a large proportion of positions, and the LME zinc term structure maintains a B structure due to inventory tightness [28][34]. - **Internal - External Price Difference Tracking**: The internal - external price difference continues to expand, mainly due to the difference in fundamentals between the two markets [36]. 3.4 Valuation and Profit Analysis 3.4.1 Upstream and Downstream Profit Tracking in the Industry Chain Zinc concentrate processing fees continue to decline in November, and the smelting start - up rate is expected to decline slightly [38]. 3.4.2 Import - Export Profit Tracking In September, zinc ore imports reached 505,400 tons, a slight increase. Currently, due to the influence of domestic smelting start - up rates, zinc ore imports are at a five - year high. However, due to the weakening internal - external price ratio, the profit of imported ores is poor, and importers are more inclined to wait and see [41]. 3.5 Supply - Demand and Inventory Deduction 3.5.1 Supply - Demand Balance Sheet Deduction - **Zinc Concentrate Monthly Balance**: The actual consumption exceeds production and imports in most months, showing a supply - demand gap [43][44]. - **Refined Zinc Monthly Balance**: The production, net imports, and consumption data show different supply - demand balances in different months, with some months having a surplus and others a deficit [44]. 3.5.2 Supply - side and Deduction In November, domestic supply enters the winter storage period. Imported ores are in a state of continuous loss, and raw materials are expected to be tight, with a slight decline in the start - up rate [46]. 3.5.3 Demand - side and Deduction The开工率 this week was stable [52].

Report Investment Rating - No investment rating information is provided in the report. Core Views - The core contradiction in the market this week has shifted from the "expectation of collective price hikes by shipping companies" to the "expectation gap between the conservative pricing of leading shipping companies and the optimistic market sentiment." The conservative pricing strategy of Maersk has weakened the bullish sentiment in the market, and the spot freight rate shows high differentiation, with limited upward momentum [2]. - The short - term market will be dominated by the game between "weak reality" and "stable expectation" due to the weak cargo volume and the strategic differentiation among shipping companies [2]. - The near - term trading logic focuses on the actual implementation of the shipping companies' price - holding actions from November to December, while the long - term trading logic is affected by factors such as 2025's shipping capacity delivery pressure, seasonal factors, and potential resumption of navigation [5][8]. - The market is in a high - level shock and short - term weak state. The main contract EC2512 has encountered significant resistance above 2000 points, and it is expected to oscillate in the range of 1800 - 2050 points with a slightly downward center of gravity [10]. Summary by Directory Chapter 1: Core Factors and Strategy Recommendations 1.1 Core Factors - **Market Core Contradiction**: The core contradiction has shifted, and Maersk's conservative pricing has led to a weakening of bullish sentiment and significant long - position reduction in the main contract 2512. Spot freight rates are highly differentiated, and it is difficult to form a trend - like upward momentum [2]. - **Near - term Trading Logic**: It centers around the actual implementation of the shipping companies' price - holding actions from November to December. The actual effect of the first round of price - holding in December will be the key to the valuation of the 2512 contract. The decrease in the weekly average shipping capacity from East China to European base ports in December may support the price hikes [5]. - **Long - term Trading Expectation**: It is affected by factors such as 2025's shipping capacity delivery pressure, seasonal factors, and potential resumption of navigation. High shipping capacity and other factors limit the upward space of freight rates, and the long - term contracts face multiple suppressing forces [8]. 1.2 Trading - Type Strategy Recommendations - **Market Positioning**: The market is in a high - level shock and short - term weak state. The main contract EC2512 is expected to oscillate in the range of 1800 - 2050 points with a slightly downward center of gravity [10]. - **Arbitrage Strategy**: The spread between near - and far - term contracts reflects the market's pessimistic expectation of the long - term fundamentals. Attention can be paid to the arbitrage opportunities brought by spread fluctuations, but operations need to be cautious due to the uncertainty of the Red Sea resumption of navigation [11]. 1.3 Industrial Customer Operation Recommendations - **Risk Management Strategies**: For companies with excessive shipping capacity or poor booking volume, they can short the container shipping index futures to lock in profits; for those worried about rising freight rates, they can buy the container shipping index futures to determine the booking cost in advance [13]. 1.4 Basic Data Overview - **Comprehensive Freight Rate Index**: The FBX comprehensive route index increased by 16.22% week - on - week, while the CICFI, SCFI, NCFI, and SCFIS European route index decreased, and the SCFIS US - West route index increased by 14.43%. The SCFI European, US - West, and US - East route freight rates all decreased [14]. Chapter 2: This Week's Important Information - **Positive Information**: Shipping companies are determined to hold prices and continue to announce price hikes until December; there are positive signs in shipping capacity regulation; the year - end seasonal peak season provides marginal support for freight rates [29]. - **Negative Information**: There are signs of easing in the geopolitical situation, increasing the expectation of Red Sea route resumption; the spot index has turned from rising to falling; macro and trade data are weak [30]. Chapter 3: Disk Interpretation - **Unilateral Trend and Capital Movement**: The main contract EC2512 had a volatile "roller - coaster" trend this week. It reached a new high this year but then declined due to the increased expectation of Red Sea resumption and the decline of the spot index. The trading volume and open interest increased, indicating intensified divergence between bulls and bears [31]. - **Basis Structure**: The basis (spot - futures) contango structure is still deep. The current high premium of futures means that the spot needs to rise more strongly to support the futures price, otherwise, the futures price may return to the spot price [36]. - **Calendar Spread Structure**: The spread between near - and far - term contracts maintains a B structure but fluctuates. The far - term contracts are more sensitive to negative factors, reflecting the market's concern about the medium - and long - term fundamentals [40]. Chapter 4: Profit Analysis - In the first half of 2025, major shipping companies such as COSCO SHIPPING Holdings, Maersk, and CMA CGM had relatively good profit and revenue performance, while some companies like ONE and Yang Ming Marine Transport saw a significant reduction in profits compared to the same period last year. Most shipping companies are still profitable [43]. - For the second half of the year, shipping companies believe that the uncertainty has increased, and they will operate more cautiously, which may affect the freight rate trend from the supply and cost sides [43].

Core Insights - The wind power equipment sector experienced a slight increase of 0.27% on November 6, with Feiwo Technology leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Wind Power Equipment Sector Performance - Feiwo Technology (301232) saw a significant rise of 12.24%, closing at 53.90, with a trading volume of 121,200 shares and a transaction value of 622 million [1] - Zhenjiang Co., Ltd. (603507) increased by 6.23%, closing at 26.41, with a trading volume of 195,800 shares [1] - Other notable performers included Zhonghuan Hailu (301040) up 2.70% and Weili Transmission (300904) up 2.16% [1] Capital Flow Analysis - The wind power equipment sector experienced a net outflow of 240 million from institutional investors, while retail investors saw a net inflow of 290 million [2] - The detailed capital flow for key stocks showed that Jin Feng Technology (002202) had a net inflow of 44.54 million from institutional investors, despite a net outflow of 88.28 million from speculative funds [3] - Zhenjiang Co., Ltd. (603507) also faced a net outflow of 42.82 million from speculative funds, while retail investors contributed a net inflow of 0.98 million [3]