证券代码：603191 证券简称：望变电气 公告编号：2025-030 重庆望变电气（集团）股份有限公司 关于 2025 年 5 月对外担保的进展公告 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： 公司对外担保总额为人民币 88,500.00 万元，担保余额为 45,309.82 万元，占公司最近一期经审计净资产的 18.78%； 对资产负债率超过 70.00%的单位提供担保的金额为人民币 13,000.00 万元， 担保余额为 4,301.05 万元，占公司最近一期经审计净资产的 1.78%；敬请投 资者充分关注担保风险。 公司于 2024 年 11 月 26 日召开第四届董事会第九次会议审议通过 《关于 2025 年度向银行等金融机构申请综合授信额度及为子公司提供融资担保额度的议案》， 同意 2025 年度为子公司重庆惠泽电器有限公司（以下简称"惠泽电器"）向银 行等金融机构申请综合授信或借款提供新增额度不超过 1 亿元人民币（或等值外 币）的担保；同意 2025 年度为资产负债率超过 70%的子公司黔南 ...

证券代码：603191 证券简称：望变电气 公告编号：2025-030 重庆望变电气（集团）股份有限公司 关于 2025 年 5 月对外担保的进展公告 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： 一、担保情况概述 （三）担保预计的实际发生情况 2 担保方 被担保方 担保方 持股比 例 截止 2025.03.3 1 被担保方 资产负债 率（未经审 计） 2025 年预计 担保额度 （万元） 截至 2025 年 5 月末累 计担保总 额 （万元） 截至 2025 年 5 月末担 保余额 （万元） 是否 关联 担保 是否 有反 担保 望变电气 黔南望江 100.00% 76.03% 20,000.00 13,000.00 4,301.05 否 否 望变电气 云变电气 79.97% 61.88% 120,000.00 75,500.00 41,008.77 否 否 望变电气 惠泽电器 100.00% 57.93% 10,000.00 0 0 否 否 合计 — — 150,000.00 88,500.00 45,30 ...

Investment Rating - The investment rating for the AIDC power equipment and grid industry is "Outperform the Market" (maintained rating) [1] Core Viewpoints - Domestic and international cloud service providers have significantly increased capital expenditures in Q1, indicating a rising investment sentiment in the domestic power grid [4] - The power equipment capacity can reach 3-5 times that of computing chips, with the supply and distribution market expected to reach 73 billion yuan by 2026 [4] - The AIDC power equipment sector has seen a general increase in stock prices, with lead-acid batteries, HVDC, and UPS showing the highest gains [4] - The industry is characterized by a long power transmission chain, with global giants like Eaton and Schneider having established strong product lines and solution capabilities, while domestic companies are gaining competitive advantages [4] - The year 2025 is anticipated to be a pivotal year for AIDC construction, with significant capital expenditures expected from major cloud providers [4] Summary by Sections AIDC Power Equipment - Major cloud companies like Tencent and Alibaba have ramped up their AI computing infrastructure investments, with Tencent's capital expenditure reaching 27.48 billion yuan, up 91% year-on-year, and Alibaba's at 24.612 billion yuan, up 121% [4][16] - The global data center's IT load is projected to grow significantly, with a compound annual growth rate (CAGR) of 48% from 2024 to 2026 [4] - The AIDC power equipment sector is expected to benefit from the increasing demand for power supply equipment, including transformers and UPS systems [4] Grid Industry - In March 2025, the national power engineering investment reached 56.9 billion yuan, a decrease of 5.7% year-on-year, while the grid engineering investment was 52 billion yuan, an increase of 18.4% year-on-year [30] - The National Grid's investment in ultra-high voltage equipment is expected to see significant growth in 2025, with a projected annual investment exceeding 650 billion yuan [4] - The bidding results for the National Grid's transmission and transformation equipment show a total bid amount of 17.636 billion yuan, an increase of 12.7% year-on-year [60]

Meeting Details - The shareholders' meeting was held on May 16, 2025, at the company's R&D building in Chongqing [1] - The attendance rate of ordinary shareholders and preferred shareholders with restored voting rights was 40.50% [1] - The meeting was conducted in accordance with the Company Law and the company's articles of association, using a combination of on-site and online voting [1] Voting Results - All non-cumulative voting proposals were approved with high support from A-shareholders, with the highest approval rate being 99.2366% for one of the proposals [1][2] - Specific voting results included: - Proposal 1: 133,874,038 votes in favor (99.2366%) [1] - Proposal 2: 133,843,138 votes in favor (99.2137%) [1] - Proposal 3: 133,719,338 votes in favor (99.1219%) [1] - Proposal 4: 133,783,338 votes in favor (99.1694%) [1] - Proposal 5: 133,776,938 votes in favor (99.1646%) [2] Dividend Distribution - The cash dividend proposal was approved unanimously by shareholders holding more than 5% of ordinary shares, with 129,475,141 votes in favor (100.0000%) [2] - Shareholders holding less than 1% of ordinary shares showed a mixed response, with 4,244,197 votes in favor (78.1806%) [2] Legal Compliance - The meeting's procedures, including the qualifications of attendees and voting processes, complied with the Company Law and the company's articles of association, ensuring the validity of the voting results [3]

Group 1 - The company plans to repurchase and cancel a total of 814,000 restricted shares due to performance assessment failures and the departure of certain employees [1][2] - Following the repurchase, the total share capital will decrease from 333,167,407 shares to 332,353,407 shares [2] - The company will notify creditors about the capital reduction, allowing them 30 days to claim debts or provide guarantees [2][3] Group 2 - Creditors must submit proof of their claims, including contracts and identification documents, to the company [3] - The company provides multiple methods for creditors to declare their claims, including in-person and mail submissions [3] - The announcement emphasizes that creditors who do not act within the specified time frame will still retain the validity of their claims [2]

减少注册资本通知债权人的公告 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。 一、通知债权人的原由 重庆望变电气（集团）股份有限公司（以下简称"公司"）于2025年4月24 日召开第四届董事会第十二次会议和第四届监事会第十一次会议审议通过《关于 2024年限制性股票激励计划首次授予部分第一个解除限售期解除限售条件未成 就暨回购注销部分限制性股票并调整回购价格的议案》，具体内容详见公司于 2025年4月26日在上海证券交易所网站www.sse.com.cn及指定媒体披露的《关于 2024年限制性股票激励计划首次授予部分第一个解除限售期解除限售条件未成 就暨回购注销部分限制性股票并调整回购价格的公告》（公告编号：2025-021） 公司于2025年5月16日召开2024年年度股东会审议通过了《关于减少注册资 本并修改<公司章程>的议案》，具体内容详见公司于2025年5月17日在上海证券 交易所网站www.sse.com.cn及指定媒体披露的《2024年年度股东会决议公告》（公 告编号：2025-028） 根据公司《2024年限制性 ...

证券代码：603191 证券简称：望变电气 公告编号：2025-028 重庆望变电气（集团）股份有限公司 2024年年度股东会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 5 月 16 日 (二)股东会召开的地点：重庆市长寿区化北路 18 号望变电气研发大楼 606 会议 室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 297 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 134,903,846 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 40.50 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东会由本公司董事会负责召集，以现场投票与网络投票相结合的方式 表决，会议由董事长杨泽民主持。本次会议的召集、召开和表决方 ...

北京市嘉源律师事务所 关于重庆望变电气（集团）股份有限公司 2024 年年度股东会的法律意见书 师事务所 IIA YUAN LAW OFFICES 西城区复兴门内大街 158 号远洋大厦 4 楼 中国 · 北京 源 在 United Suit YUAN LAW OFFICES 北京 BEI JING · 上海 SHANGHAI · 深圳 SHENZHEN · 香港 HONG KONG · 广州 GUANGZHOU · 西安 XI'AN 本所及经办律师依据《证券法》《律师事务所从事证券法律业务管理办法》 和《律师事务所证券法律业务执业规则》等规定及本法律意见书出具目以前已经 发生或者存在的事实,严格履行了法定职责,遵循了勤勉尽责和诚实信用原则, 进行了充分的核查验证,保证本法律意见所认定的事实真实、准确、完整,所发 表的结论性意见合法、准确,不存在虚假记载、误导性陈述或者重大遗漏,并承 致:重庆望变电气(集团)股份有限公司 北京市嘉源律师事务所 关于重庆望变电气(集团)股份有限公司 2024年年度股东会的法律意见书 嘉源(2025)-04-315 北京市嘉源律师事务所(以下简称"本所")接受重庆望变电气(集团) ...

Core Viewpoint - The Chinese silicon steel market is experiencing growth, with non-oriented silicon steel dominating production, accounting for 82% of the total output in the first half of 2024, while oriented silicon steel is also on the rise [1][3]. Group 1: Production and Market Trends - In the first half of 2024, China's silicon steel production reached 7.802 million tons, with non-oriented silicon steel production at 6.417 million tons and oriented silicon steel at 1.385 million tons [1]. - The total silicon steel production for 2024 is projected to exceed 15 million tons, maintaining a dominant share for non-oriented silicon steel [1]. - From 2019 to 2023, non-oriented silicon steel capacity increased from 10.96 million tons to 13.71 million tons, with a compound annual growth rate (CAGR) of 7.4% [3]. - Oriented silicon steel production grew from 1.78 million tons in 2019 to 2.96 million tons in 2023, with a forecast of 3.18 million tons for early 2024 [5]. Group 2: Company Developments - Major companies in the non-oriented silicon steel sector include Baosteel, Ansteel, and Taiyuan Iron & Steel, with Baosteel leading with a capacity of over 2 million tons, including 1 million tons of high-grade products [7]. - In the oriented silicon steel market, Baosteel also leads with a capacity of 1.16 million tons, while Wanfeng Electric is noted as the top private enterprise in this segment [7]. - Baosteel's production capabilities include a significant focus on high-grade and thin specifications, with ongoing expansions planned by companies like Shagang and New Steel [7][9].

中信证券股份有限公司关于 重庆望变电气（集团）股份有限公司 首次公开发行 A 股股票并上市保荐总结报告书 | | | 一、发行人基本情况 三、保荐工作概述 中信证券作为望变电气首次公开发行股票并上市的保荐人，指定张阳、叶建 中两名保荐代表人负责持续督导工作，截至 2024 年 12 月 31 日，保荐人对望变 电气首次公开发行股票并上市的持续督导期限已经届满。上述期间，保荐人的主 要工作如下： | 公司名称 | 重庆望变电气（集团）股份有限公司 | | --- | --- | | 英文名称 | Electric（Group）Corp., Chongqing Wangbian Ltd | | 法定代表人 | 杨泽民 | | 注册资本 | 33316.7407 万元 | | 注册地址 | 重庆市长寿区晏家街道齐心东路 10 号 | | 办公地址 | 重庆市江北区江北城街道江北城西大街 号交通银行大厦 楼 3 12 | | 股票上市地 | 上海证券交易所 | | 股票简称 | 望变电气 | | 股票代码 | 603191.SH | | 上市日期 | 2022 年 4 月 28 日 | | 董事会秘书 | 李代萍 | ...