望变电气 摘要 • 受铜价波动及工业项目放缓影响，配电板块表现不佳，公司主动收缩部分 项目和房地产订单以控制应收账款风险。每年铜使用量约 11,000 吨，占 国内市场 30-40%份额。 • 硅钢板块虽恢复 85 级以上排号，但受内地厂商竞争影响，价格上涨不明 显，募投项目集中释放增加折旧费用，对财务贡献有限。 • 公司积极转型市场结构，从工业侧和房地产转向两网、新能源等领域，与 三桶油、三大运营商等合作，并拓展铁路领域，预计 2024-2025 年铁路 领域增速达 15-20%。 • 数据中心业务主要与三大运营商合作，订单额约 1 亿多元，占营收比例不 高，未来将拓展与大型互联网公司的合作。 • 高牌号取向硅钢需求预计持续上涨，但受下游变压器厂铜价承压影响，涨 价速度可能较慢，恢复至 2019 年价格水平需时；普通牌号价格预计持平。 • 公司气象硅钢产能 18 万吨，2024 年产量约 16 万吨，预计 2025 年满负 荷生产达 17-18 万吨。变压器制造需外采部分取向硅钢。 • 公司推出应用于智能输配电领域的新品，预计未来三年实现超 20 亿元销 售额，输配电业务整体增速稳定在 20%-30%，成套 ...

证券时报e公司讯，企查查APP显示，近日，上海渝申望变新能源科技有限公司成立，法定代表人为杨 大勇，注册资本2000万元，经营范围包含：电力设施器材销售；储能技术服务；先进电力电子装置销 售；软件开发等。 企查查股权穿透显示，该公司由望变电气等共同持股。 ...

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： 证券代码：603191 证券简称：望变电气 公告编号：2025-003 重庆望变电气（集团）股份有限公司 2024 年度业绩预告 一、本期业绩预告情况 （一）业绩预告期间 2024 年 1 月 1 日至 2024 年 12 月 31 日 （二）业绩预告情况 经财务部门初步测算，预计 2024 年度实现归属于母公司所有者的净利润为 6,200 万元至 8,200 万元，与上年同期相比减少 15,259 万元至 17,259 万元，同 比下降 65.05%到 73.57%。预计 2024 年度实现归属于母公司所有者的扣除非经 1 本期业绩预告适用于实现盈利，且净利润与上年同期相比下降 50%以 上。 重庆望变电气（集团）股份有限公司（以下简称"公司"）预计 2024 年度实现归属于母公司所有者的净利润为 6,200 万元至 8,200 万元， 与上年同期相比减少 15,259 万元至 17,259 万元，同比下降 65.05%到 73.57%。 预计 2024 年度实 ...

| --- | --- | |-------|---------------------------------------------------------| | | | | | 8 、公司对取向硅钢价格后续展望及对公司盈利 的影响？ | | | 答： 2024 年第二季度过后，取向硅钢整体价格 | | | 持续上涨。总体而言，随着国家的"双碳"、 | | | "变压器能效升级"政策、关于新形势下配电网 | | | 高质量发展的指导意见以及其他一系列推进"电 | | | 力装备绿色低碳"的政策发布，特别是今年刚颁 | | | 布的中国电力变压器能效限定值及能效等级新标 | | | 准，我们预计高牌号取向硅钢的价格因节能变压 | | | 器的需求增加而持稳或上升，一般取向硅钢的价 | | | 格因需求稳定而保持相对稳定。 | | | 就公司而言，随着八万吨高端磁性新材料项目 | | | 后期牌号结构的提升，预期同步会给公司带来更 | | | 强有力的盈利能力提升。 | | | 9 、公司现有取向硅钢老产线是否有改造计划？ | | | 答：公司现有老产线包括 5 万吨 CGO 和 5 万吨 | | | HiB ...

Company Overview - The company specializes in the research, production, and sales of power transmission and distribution control equipment and grain-oriented silicon steel, belonging to two distinct industries: electrical machinery and equipment manufacturing, and ferrous metal smelting and rolling processing [4] - The company has accumulated 237 patents, including 42 invention patents and 193 utility model patents as of the first half of the year [5] R&D and Innovation - The company has invested 1 billion yuan in R&D for grain-oriented silicon steel, leading to the development of higher-grade, more energy-efficient products that are increasingly competitive in international markets [1] - Significant achievements in innovation include collaborations with Chongqing University and the Chinese Academy of Sciences, resulting in the development of new processes for recycling electrical steel waste and the production of FeSiBCuNb nanocrystalline ultra-thin strips, with two invention patents filed [2] Market Competitiveness - The company's dual expertise in grain-oriented silicon steel and power transmission and distribution control equipment creates a synergistic effect, enhancing product performance and market competitiveness [3] - The upgrade in grain-oriented silicon steel product structure directly improves the performance of power transmission and distribution control equipment, further strengthening the company's market position [3]

重庆望变电气（集团）股份有限公司 投资者关系活动记录表 | --- | --- | --- | |------------------|-------------------------------|-----------------------------------------------| | | | | | | £ 特定对象调研 | £ 分析师会议 | | | £ 媒体采访 | £ 业绩说明会 | | 投资者关系 | £新闻发布会 | £ 路演活动 | | 活动类别 | R 现场参观 | £ 电话调研 | | | R 其他 | | | 调研人员（单位） | | 招商基金 西南证券 商界集团 成联天府股权投资 | | | | 基金 山西证券 毅德基金 广发证券 远东宏信 银河 | | | | 证券 国泰君安证券 恒睿信投资 泛华控股集团 值 | | | 得资本 云洲资本 方正证券 | | | 调研时间 | 2024 年 11 月 1 日— | 2024 年 11 月 28 日 | | 调研地点 | 江北嘴、重庆辖区 | 2024 年投资者接待日现场 | | 上市公司接待人员 | 董秘 李代萍、证券部相关 ...

证券代码：603191 证券简称：望变电气公 公告编号：2024-069 重庆望变电气（集团）股份有限公司 关于参加重庆辖区 2024 年投资者网上集体接待日 活动的公告 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个别及连带责任。 为加强上市公司与投资者之间的沟通交流，促进上市公司进一步做好投资者 关系管理工作。重庆望变电气（集团）股份有限公司（以下简称"公司"）将参 加由重庆证监局指导、重庆上市公司协会联合深圳市全景网络有限公司联合举办 的重庆辖区上市公司 2024 年投资者网上集体接待日活动。 活动将于 2024 年 11 月 28 日（星期四）15:00-17:00 举行，投资者可以登 录"全景路演"平台（http://rs.p5w.net）进入公司互动平台参与交流。 届时，公司相关人员将参加本次活动，与投资者进行"一对多"形式的在线 交流，回复投资者关心的问题。欢迎广大投资者参与本次活动。 特此公告。 重庆望变电气（集团）股份有限公司董事会 2024 年 11 月 26 日 ...

Financial Performance - The company's operating revenue for the third quarter was approximately ¥948.99 million, representing a year-on-year increase of 29.32%[2]. - The net profit attributable to shareholders decreased by 69.34% in the third quarter, amounting to approximately ¥18.92 million, and a decrease of 75.11% year-to-date, totaling ¥53.71 million[2][6]. - The basic earnings per share for the third quarter was ¥0.06, down 68.42% year-on-year, and year-to-date it was ¥0.16, down 75.38%[2][6]. - The company achieved a total operating revenue of RMB 2.32 billion in the first nine months of 2024, representing a year-on-year growth of 20.51%[11]. - Total operating revenue for the first three quarters of 2024 reached CNY 2,374,381,716.56, an increase of 20.6% compared to CNY 1,968,686,535.54 in the same period of 2023[15]. - Net profit for the first three quarters of 2024 was CNY 62,473,486.34, a decrease of 71.0% compared to CNY 215,783,546.43 in 2023[16]. - The total revenue for the first three quarters of 2024 was approximately CNY 1.93 billion, a slight decrease from CNY 1.94 billion in the same period of 2023, representing a decrease of about 0.08%[24]. - The operating profit for the first three quarters of 2024 was CNY 49.24 million, significantly lower than CNY 252.17 million in the same period of 2023, indicating a decline of approximately 80.5%[26]. - The net profit for the first three quarters of 2024 was CNY 22.72 million, down from CNY 218.10 million in the same period of 2023, reflecting a decrease of about 89.6%[26]. Cash Flow and Liquidity - The net cash flow from operating activities for the third quarter was negative at approximately -¥68.70 million, a decline of 157.55% compared to the same period last year[2]. - The company's cash and cash equivalents were reported at RMB 1.01 billion, down from RMB 1.37 billion at the end of 2023[12]. - The net cash flow from operating activities was negative at CNY -364,071,490.75, compared to a positive CNY 71,088,805.19 in the previous year[19]. - Cash inflow from operating activities totaled CNY 1,739,259,026.01, while cash outflow was CNY 2,103,330,516.76[19]. - The cash flow from operating activities for the first three quarters of 2024 showed a significant decline compared to the previous year, reflecting challenges in cash generation[27]. - Total cash inflow from operating activities was 1,358,510,290.39 RMB, down from 1,441,563,381.85 RMB year-over-year[28]. - Cash outflow from operating activities increased to 1,617,927,275.94 RMB, compared to 1,341,502,258.44 RMB in the previous year[28]. - The company reported a net decrease in cash and cash equivalents of -1,006,451,930.29 RMB, contrasting with an increase of 218,683,033.42 RMB in the same period of 2023[29]. - The ending balance of cash and cash equivalents was 184,588,307.69 RMB, down from 1,092,423,787.91 RMB at the end of the previous year[29]. Assets and Liabilities - Total assets increased by 31.79% year-on-year, reaching approximately ¥6.43 billion, primarily due to the acquisition of Yunbian Electric[3][6]. - As of September 30, 2024, total assets amounted to RMB 6.43 billion, an increase from RMB 4.88 billion at the end of 2023[12]. - The company's total liabilities increased to CNY 3,878,532,125.15, up from CNY 2,484,433,470.22 in the previous year, reflecting a growth of 56.2%[14]. - The total liabilities increased to CNY 3.04 billion in the third quarter of 2024, compared to CNY 2.39 billion in the same period of 2023, marking an increase of about 27.4%[23]. - The total equity attributable to shareholders increased slightly by 0.74% year-on-year, totaling approximately ¥2.41 billion[3]. - The total equity attributable to shareholders reached CNY 2,408,477,077.54, compared to CNY 2,390,808,456.94 in the previous year, showing a slight increase of 0.7%[14]. - The total equity as of the end of the third quarter of 2024 was CNY 2.39 billion, a slight decrease from CNY 2.40 billion in the same period of 2023, reflecting a decline of about 0.4%[23]. Segment Performance - The revenue from the power distribution and control equipment segment accounted for 58% of total revenue, with a year-on-year growth of 38.62%[11]. - The gross profit margin for the power distribution and control equipment segment increased by 1.04% year-on-year, reaching 16.02%[10]. - The revenue from the oriented silicon steel segment accounted for 42% of total revenue, with a year-on-year growth of 1.78%[11]. - The gross profit margin for the oriented silicon steel segment decreased by 18.82% year-on-year, with a current margin of 6.41%[10]. - The company reported a significant decline in gross profit margin for the oriented silicon steel business, leading to a decrease in total profit and net profit[6]. Research and Development - Research and development expenses for the first three quarters were CNY 32,207,154.22, up from CNY 23,083,230.40 in 2023, indicating a growth of 39.5%[15]. - The company's research and development expenses for the first three quarters of 2024 were CNY 22.18 million, slightly lower than CNY 22.56 million in the same period of 2023[26]. Borrowings and Financial Expenses - The company's short-term borrowings amounted to CNY 230,688,733.43, a decrease from CNY 264,252,578.55 in the previous period[14]. - The company raised CNY 976,177,376.60 in borrowings during the period, compared to CNY 549,497,362.50 in the previous year[20]. - The company reported a financial expense of CNY 670,542.11, a significant improvement from a financial income of CNY -12,074,199.62 in the previous year[16]. - The long-term borrowings as of the end of the third quarter of 2024 were CNY 1.16 billion, up from CNY 642.57 million in the same period of 2023, indicating an increase of approximately 80.5%[23]. Government Subsidies - The company received government subsidies amounting to approximately ¥6.24 million during the reporting period[5].

重庆望变电气（集团）股份有限公司 投资者关系活动记录表 | --- | --- | --- | |------------------|-------------------------------|-----------------------------------------------| | | | | | | £ 特定对象调研 | £ 分析师会议 | | | £ 媒体采访 | R 业绩说明会 | | 投资者关系 | £新闻发布会 | £ 路演活动 | | 活动类别 | R 现场参观 | R 电话调研 | | | £其他 | | | 调研人员（单位） | 天弘基金 华商基金 | 华富基金 北京煜诚基金 东方 | | | | 资管 长城基金 正圆投研 才华资本 保银 新华养老 | | | | 保险 永赢基金 乘是投资 上海鸿凯投资 碧云银霞 | | | | 投资管理 博裕资产 汇升投资 北大方正人寿资管 | | 调研时间 | 2024 年 9 月 20 日— | 2024 年 10 月 15 日 | | 调研地点 | 江北嘴、线上、长寿生产基地 | | | 上市公司接待人员 | 董秘 李代萍、证券部相关 ...

重庆望变电气（集团）股份有限公司 投资者关系活动记录表 | --- | --- | --- | |------------------|----------------|----------------------------------------------| | | | | | | £ 特定对象调研 | £ 分析师会议 | | | £ 媒体采访 | R 业绩说明会 | | 投资者关系 | £新闻发布会 | £ 路演活动 | | 活动类别 | R 现场参观 | R 电话调研 | | | £其他 | | | 调研人员（单位） | | 西南证券 兴业证券 财通证券 长江证券 中金公司 | | | | 东吴证券 国联证券梁丰铄 招商基金文雨 广东正 | | | | 圆私募 深圳前海华杉投资 太平洋资产管理 富实 | | | | （上海）私募 上海纯达资管 博裕资产 红杉资本 | | | | 股权投资 天风证券 中国民生银行 杭州乾璐投资 | | | | 管理 明亚基金 复星保德信人寿保险 昊泽致远 | | | | （北京）投资管理 银华基金 上海涌乐私募 上海 | | | | 东恺投资管理 方正富邦基金 中银国 ...