2024 年度持续督导工作现场检查报告 根据《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有 关法律、法规的规定，中信证券股份有限公司（以下简称"中信证券"或"保荐 人"）作为正在对重庆望变电气（集团）股份有限公司（以下简称"望变电气" "公司""上市公司"）进行持续督导工作的保荐人，对 2024 年度（以下简称"本 持续督导期间"）的规范运作情况进行了现场检查，现就现场检查的有关情况报 告如下： 一、本次现场检查的基本情况 （一）保荐人 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 中信证券股份有限公司 （二）保荐代表人 张阳、叶建中 （三）现场检查人员 张阳 （四）现场检查时间 2025 年 5 月 6 日 （五）现场检查内容 现场检查人员对本持续督导期内发行人公司治理和内部控制情况、信息披露 情况、公司的独立性以及与控股股东、实际控制人及其他关联方资金往来情况、 募集资金使用情况、关联交易、对外担保、重大对外投资情况、经营状况等方面 进行了现场检查，具体检查内容详见本报告"二、本次现场检查主要事项及意见"。 （六）现场检查手段 1 本次现场检查的手段主要包括资料查阅、访谈 ...

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 2024年度持续督导报告书 | 上市公司：重庆望变电气（集团）股份有限公司（以下简称"望变电气"、"公司"） | | | --- | --- | | 保荐人名称：中信证券股份有限公司（以下简称"中信证券"或"保荐人"） | | | 保荐代表人姓名：张阳 | 联系电话：010-60838794 | | 保荐代表人姓名：叶建中 | 联系电话：010-60833934 | 经中国证券监督管理委员会《关于核准重庆望变电气（集团）股份有限公司 首次公开发行股票的批复》（证监许可〔2022〕490 号）核准，并经上海证券交 易所同意，公司于 2022 年 4 月 18 日首次向社会公开发行人民币普通股（A 股） 83,291,852 股，每股发行价格为 11.86 元，募集资金总额为 98,784.14 万元，扣除 各类发行费用之后实际募集资金净额 85,456.18 万元。大华会计师事务所（特殊 普通合伙）于 2022 年 4 月 26 日对望变电气首次公开发行股票的资金到位情况进 行了审验，并出具了"大华验字[2022]000143 号"验资报告。2022 ...

Core Insights - The article discusses the current state and future prospects of the silicon steel industry, highlighting key players, their performance, and strategic developments in the sector [1][3][5]. Industry Overview - The silicon steel industry comprises numerous upstream companies involved in the production of silicon iron and industrial silicon, with major players including Junzheng Group, Ansteel, and New Steel Group [1]. - Midstream production includes companies like Baosteel, Shougang, Taiyuan Iron and Steel, and others, which are significant producers of silicon steel [1]. Company Performance - Baosteel is the world's leading producer of silicon steel, with a production capacity exceeding 4 million tons and a focus on high-value products [15][18]. - Shougang's revenue for the first three quarters of 2024 reached 819.7 billion yuan, with a gross margin of 3.74%, primarily from electrical steel products [13][14]. - Companies like Ansteel and Maanshan Steel are facing challenges, with negative ROE indicating operational inefficiencies and potential market issues [6][7]. Financial Metrics - Baosteel's EPS remains positive, reflecting strong profitability, while companies like Liugang and Chongqing Steel report negative EPS, indicating financial difficulties [7][9]. - The overall profit margin in the steel industry is under pressure, with a reported loss of 34.1 billion yuan in the black metal smelting and rolling industry for the first nine months of 2024 [7]. Market Capitalization - Baosteel's market capitalization stands at 148.32 billion yuan, showcasing its strong market position, while other companies like Baogang and Shougang have lower valuations due to performance issues [9][10]. Production Capacity and Developments - Baosteel's silicon steel production capacity includes 1 million tons per year of oriented silicon steel, leading the industry [15][18]. - Future projects include Shougang's new high-end non-oriented silicon steel production line, expected to produce 350,000 tons annually [18][20]. Strategic Planning - The industry is moving towards high-end, green, and intelligent production, with companies like Baosteel investing in smart manufacturing technologies [20][22]. - Future demand for oriented silicon steel is expected to grow due to the increasing market for high-efficiency transformers, driven by advancements in supercomputing centers [20][22].

Summary of Wanfeng Electric's Conference Call Company Overview - **Company**: Wanfeng Electric - **Industry**: Electrical Equipment Manufacturing Key Points Financial Performance - In 2024, Wanfeng Electric's net profit declined primarily due to a significant drop in the selling price of oriented silicon steel, with a decrease of over 3,000 yuan per ton, while costs only fell by about 1,400 yuan per ton, resulting in a gross profit reduction of approximately 200 million yuan [2][4] - The first quarter of 2025 saw a year-on-year decline in performance, attributed to increased financial expenses and cash reduction from self-built projects and acquisitions [2][6] - The company aims for a 30% revenue growth and a 20% net profit growth in 2025, with significant improvements expected in the oriented silicon steel segment [2][9] Market Strategy - Wanfeng Electric does not export directly to the U.S., thus is unaffected by U.S. tariff policies. The international market strategy focuses on collaboration with domestic state-owned enterprises to expand into Belt and Road Initiative countries [2][10] - The company plans to establish inspection centers in friendly countries like Laos and Vietnam, targeting industrial demand in these regions [5][19] Product Development - The proportion of high-voltage transformers increased from 5% to 45% due to the acquisition of Yunding, with future strategies aimed at breaking into the 500 kV voltage level [2][11][12] - The company plans to produce 180,000 tons of silicon steel in 2025, although actual production is expected to be around 170,000 tons due to the need for thinner specifications [5][23] Operational Challenges - The company faces challenges in maintaining profitability due to intense competition and pricing pressures, particularly in the oriented silicon steel market [14][15] - Management expenses increased due to the acquisition of Yunding and other operational costs, but the company aims to reduce controllable expenses by 10% in 2025 [17] Customer Base and Revenue Structure - The top five customers account for approximately 30% of total revenue, with State Grid contributing about 20% [20] - The company has successfully entered the State Grid system, which is expected to enhance business opportunities [24] Future Outlook - Wanfeng Electric is optimistic about future market expansion, particularly in Southeast Asia, and is confident in achieving its revenue growth targets despite current pressures [7][26] - The company is focusing on new energy and smart city sectors, with expectations of maintaining stable prices and growing orders in these emerging fields [14][16] Conclusion - Wanfeng Electric is navigating a challenging market environment but remains focused on strategic growth, product development, and international expansion to enhance its competitive position in the electrical equipment industry [26]

（一）公司对外担保总额及内部决策程序履行情况 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 1 被担保人：控股子公司云南变压器电气股份有限公司（以下简称"云变电气"）、 担保金额及已实际提供的担保余额：2025 年 4 月 1 日-4 月 30 日期间，重庆 望变电气（集团）股份有限公司（以下简称"公司"或"望变电气"）及下 属子公司新增对外担保 21,000 万元；截止 2025 年 4 月末，公司对外担保余 额为 41,656.73 万元，均为对子公司提供的担保。 是否有反担保：无 公司有无逾期对外担保的情况：无 特别风险提示：截至2025年4月30日，公司对外担保总额为人民币88,500.00 万元，担保余额为 41,656.73 万元，占公司最近一期经审计净资产的 17.26%； 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 4,296.72 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。 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 ...

不减持公司股份的公告 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。 重庆望变电气（集团）股份有限公司（以下简称"望变电气"或"公司"） 于近日收到公司实际控制人杨泽民先生、秦惠兰女士、杨秦女士、杨耀先生出具 的《关于自愿不减持公司股份的承诺函》，现将相关情况公告如下： 证券代码：603191 证券简称：望变电气 公告编号：2025-026 重庆望变电气（集团）股份有限公司 关于控股股东、实际控制人自愿承诺特定期间内 1 | | | 一、承诺主要内容 基于对公司未来发展的信心，同时为增强广大投资者信心，切实维护投资者 权益和资本市场的稳定，杨泽民先生、秦惠兰女士、杨秦女士、杨耀先生自愿承 诺自 2025 年 4 月 28 日起 12 个月内不通过二级市场集中竞价、大宗交易的方式 减持所持有的公司股份。在上述承诺期间内，如发生资本公积转增股本、派送股 票红利、配股等产生新增股份，亦遵守该不减持承诺。 二、其他说明 | 承诺人 | 股份性质 | 持股数量（股） | 持股比例（%） | | --- | --- | --- | --- ...

望变电气（603191）公告，公司实际控制人杨泽民、秦惠兰、杨秦、杨耀自愿承诺自2025年4月28日起 12个月内不通过二级市场集中竞价、大宗交易的方式减持所持有的公司股份。截至公告披露日，四人合 计持有公司1.29亿股，持股比例38.86%。 ...

Group 1 - The State Council Information Office will hold a press conference on April 28 to discuss policies related to stabilizing employment and the economy, promoting high-quality development [1] - The National Development and Reform Commission, Ministry of Human Resources and Social Security, Ministry of Commerce, and the People's Bank of China will present relevant measures and answer questions [1] Group 2 - The China Council for the Promotion of International Trade will hold a press conference on April 28 to release the global trade friction index for February 2025 and other trade-related data [3] - The press conference will also cover the latest preparations for the third Chain Expo and new policies to support foreign trade [3] Group 3 - The China Meteorological Administration will hold a press conference on April 28 to discuss the national weather and climate characteristics for April, as well as predictions for May [4] Group 4 - The first "Beijing Xiangshan Forum" will take place from April 28 to 30, focusing on global security challenges and opportunities, with participation from over 200 defense officials and experts from more than 30 countries [5] Group 5 - On April 28, a total of 17 companies will have their restricted shares released, amounting to 1.727 billion shares with a total market value of 24.677 billion yuan [6] - Companies with the highest share unlock volumes include China Resources Materials, Chengda Bio, and Wangbian Electric [6] Group 6 - 19 companies announced stock repurchase progress on April 28, with 18 companies disclosing new repurchase plans [7] - The highest repurchase amounts were reported by Tianyuan Environmental Protection, Jinli Permanent Magnet, and Zhenhua Heavy Industry [7] Group 7 - A total of 176 billion yuan in 7-day reverse repos will mature today, with an operation rate of 1.5% [8]

智通财经APP获悉，4月28日共有27家上市公司的限售股解禁，解禁总市值约317亿元。 今日具体限售解禁股情况如下： | 股票简称 | 股票代码 | 限售股类型 | 解禁股数 | | --- | --- | --- | --- | | 时代新材 | 600458 | 股权激励限售流通 | 649.44万 | | 中航沈飞 | 600760 | 股权激励限售流通 | 361.77万 | | 中钢天源 | 002057 | 股权激励限售流通 | 424.38万 | | 万讯自控 | 300112 | 股权激励限售流通 | 171.15万 | | 新研股份 | 300159 | 股权激励限售流通 | 540万 | | 吉鑫科技 | 601218 | 股权激励限售流通 | 54.63万 | | 凯龙股份 | 002783 | 股权激励限售流通 | 9.74万 | | 东方精工 | 002611 | 股权激励限售流通 | 88万 | | 星帅尔 | 002860 | 股权激励限售流通 | 30.2万 | | 星光农机 | 603789 | 股权激励限售流通 | 513.57万 | | 口子窖 | 603589 | 股权 ...

公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603191 证券简称：望变电气 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 □是√否 一、主要财务数据 (一)主要会计数据和财务指标 单位：元币种：人民币 ■ (二)非经常性损益项目和金额 √适用□不适用 单位:元币种:人民币 ■ 对公司将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号一一非经常性 损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 □适用√不适用 (三)主要会计数据、财务指标发生变动的情况、原因 √适用□不适用 ■ 二、 ...