日月重工股份有限公司 章 程 二〇二五年十月 日月重工股份有限公司—章程 目 录 2 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第四章 股东和股东会 第一节 股东的一般规定 第二节 控股股东和实际控制人 第三节 股东会的一般规定 第四节 股东会的召集 第五节 股东会的提案与通知 第六节 股东会的召开 第七节 股东会的表决和决议 第五章 董事和董事会 第一节 董事的一般规定 第二节 董事会 第三节 独立董事 第四节 董事会专门委员会 第六章 高级管理人员 第七章 财务会计制度、利润分配和审计 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 第八章 通知和公告 第一节 通知 第二节 公告 第九章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十章 修改章程 第十一章 附则 日月重工股份有限公司—章程 第一章 总则 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组织和行为， 根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证券法》（以 下简称《证券法 ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥1,629,604,872.40, representing a year-on-year increase of 16.67%[5] - The total profit for the quarter was ¥177,901,343.40, showing a significant increase of 76.28% compared to the same period last year[5] - Net profit attributable to shareholders was ¥150,812,234.83, up by 77.42% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥143,711,686.75, which increased by 104.29% compared to the previous year[5] - Basic earnings per share for the quarter were ¥0.14, reflecting a 75.00% increase year-on-year[6] - The company's operating revenue for the year-to-date reached ¥4,855,341,722.86, up 52.45% year-on-year[5] - Total revenue for the first three quarters of 2025 reached ¥4,855,341,722.86, a significant increase of 52.5% compared to ¥3,184,792,031.43 in the same period of 2024[18] - Net profit for the first three quarters of 2025 was ¥423,327,657.26, a decrease of 15.6% from ¥501,890,464.38 in 2024[19] - Basic earnings per share for the first three quarters of 2025 were ¥0.42, down from ¥0.49 in 2024[20] - The company reported a total operating profit of ¥511,030,483.73, a decrease from ¥594,915,380.52 in the previous year[19] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥14,243,826,575.10, a 4.13% increase from the end of the previous year[6] - Total assets amounted to ¥14,243,826,575.10, up from ¥13,678,500,217.13, indicating a growth of 4.1%[16] - Total liabilities increased to ¥3,935,424,978.86, compared to ¥3,461,106,127.40, representing a rise of 13.7%[16] - The company's equity attributable to shareholders rose to ¥10,222,580,741.78 from ¥10,123,950,931.85, marking an increase of 1.0%[16] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥560,442,684.14, indicating an increase in cash recovery[9] - Operating cash inflow for the first three quarters of 2025 was CNY 4,750,285,881.92, a decrease of 9.1% compared to CNY 5,230,799,422.75 in the same period of 2024[22] - Net cash flow from operating activities turned positive at CNY 560,442,684.14, compared to a negative CNY 292,574,971.96 in the previous year[23] - Cash inflow from investment activities decreased significantly to CNY 947,741,599.49, down 60% from CNY 2,365,071,540.90 in 2024[23] - Net cash flow from investment activities was negative at CNY -350,519,258.70, contrasting with a positive CNY 260,678,072.71 in the same period last year[23] - Cash inflow from financing activities was CNY 177,288,791.90, a decline of 72.5% from CNY 646,000,000.00 in 2024[23] - Net cash flow from financing activities was CNY -234,659,507.81, compared to CNY -31,733,437.68 in the previous year[23] - The ending cash and cash equivalents balance was CNY 2,746,965,174.36, slightly down from CNY 1,672,891,177.57 in 2024[23] - Cash received from sales of goods and services was CNY 4,542,280,403.80, a decrease of 10.6% from CNY 5,079,242,755.20 in the same period last year[22] - Total cash outflow from operating activities was CNY 4,189,843,197.78, down 24.2% from CNY 5,523,374,394.71 in 2024[23] Shareholder Information - Total number of common shareholders at the end of the reporting period is 48,390[11] - The largest shareholder, Fu Mingkang, holds 260,616,211 shares, representing 25.29% of total shares[11] - The company has no pledged or frozen shares among the top shareholders[11] - The company’s total equity remains stable with no significant changes in shareholder structure[12] Operational Insights - The company has not reported any significant changes in its operational strategies or market expansion plans[13] - Research and development expenses increased to ¥222,450,036.26 in 2025, compared to ¥157,002,912.01 in 2024, reflecting a growth of 41.7%[19] - Total operating costs for the first three quarters of 2025 were ¥4,401,614,950.35, up 51.1% from ¥2,915,364,841.01 in 2024[18] Accounting Standards - The company did not apply new accounting standards for the year 2025[24]

日月重工股份有限公司 关于减少注册资本并修订公司章程的公告 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。 日月重工股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日召开第六 届董事会第十六次会议，审议通过了《关于减少注册资本并修订公司章程的议 案》。现将相关情况公告如下： 一、变更公司注册资本的相关情况 根据《日月重工股份有限公司 2023 年限制性股票激励计划（草案）》（以下 简称《激励计划》）之"第十四章公司/激励对象发生异动时本激励计划的处理" 之"二、激励对象个人情况发生变化的处理"之"（二）激励对象离职：1、激励 对象合同到期且不再续约的或主动辞职的，其已解除限售股票不作处理，已获授 但尚未解除限售的限制性股票不得解除限售，由公司以授予价格进行回购注销。" 证券代码：603218 证券简称：日月股份 公告编号：2025-052 鉴于首次授予的 3 名激励对象（刘昌云、徐海峰、王先锋）因个人原因已离 职，已不符合《激励计划》有关激励对象的规定，公司决定取消其激励对象资格 并回购注销其已获授但尚未解除 ...

Investment Rating - The report recommends investment in the electric power equipment industry, highlighting specific companies for potential investment opportunities [1][3]. Core Insights - Lithium battery material prices continue to rise, with domestic lithium hexafluorophosphate averaging 95,000 yuan/ton, up 20.25% month-on-month, and export prices at 104,000 yuan/ton, up 20.93% [1]. - The average winning bid price for lithium battery energy storage systems increased to 0.4771 yuan/Wh in September 2025, reflecting a 4.33% month-on-month rise [1]. - The report emphasizes the ongoing high demand in the wind power sector, with a target of adding no less than 120GW of new installed capacity annually during the 14th Five-Year Plan period [3]. - The Indian market shows strong demand for photovoltaic installations, with 29.5GW added in the first three quarters of 2025, a 70% year-on-year increase [3]. Summary by Sections Lithium Battery Materials - Domestic lithium hexafluorophosphate prices are at 95,000 yuan/ton, a 20.25% increase month-on-month, while export prices are at 104,000 yuan/ton, up 20.93% [1]. - Recommended companies in the lithium battery sector include Zhuhai Guanyu, Shangtai Technology, and XWANDA [1]. Energy Storage Systems - The average winning bid price for lithium battery energy storage systems reached 0.4771 yuan/Wh in September 2025, marking a 4.33% increase month-on-month [1]. - Recommended companies in the energy storage sector include Yiwei Lithium Energy, Sungrow Power, and CATL [1]. Wind Power - The "Wind Energy Beijing Declaration 2.0" sets a target of at least 120GW of new installed capacity annually during the 14th Five-Year Plan, with a cumulative target of 1,300GW by 2030 [3]. - Recommended companies in the wind power sector include Goldwind Technology and Daikin Heavy Industries [3]. Photovoltaic Market - India added 29.5GW of new photovoltaic capacity in the first three quarters of 2025, a 70% year-on-year increase [3]. - Recommended companies in the photovoltaic sector include Aiko Solar, LONGi Green Energy, and Mibet [3].

Market Performance - On October 24, the wind power equipment sector rose by 1.97%, with Daikin Heavy Industries leading the gains [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance - Daikin Heavy Industries (002487) closed at 53.50, up 7.02% with a trading volume of 355,500 shares and a transaction value of 1.844 billion [1] - Jinlei Co., Ltd. (300443) closed at 32.46, up 6.08% with a trading volume of 407,300 shares [1] - Feiwo Technology (301232) closed at 43.46, up 5.92% with a trading volume of 106,900 shares [1] - Other notable performers include Taisheng Wind Power (300129) up 5.58% and Rihua Co., Ltd. (603218) up 4.51% [1] Fund Flow Analysis - The wind power equipment sector experienced a net outflow of 78.9747 million from institutional investors, while retail investors saw a net inflow of 100 million [2] - The top stocks by net inflow from retail investors include Jinlong Technology (002202) with 49.4662 million and Taisheng Wind Power (300129) with 69.6989 million [3] - Conversely, Daikin Heavy Industries (002487) saw a net outflow of 37.0152 million from retail investors [3]

Core Viewpoint - The stock of Rihua Co., Ltd. has seen a significant increase, rising 5.35% on October 24, reaching a price of 14.96 yuan per share, with a total market capitalization of 15.415 billion yuan, indicating a cumulative increase of 5.03% over three consecutive days [1] Company Overview - Rihua Co., Ltd. is located in Ningbo, Zhejiang Province, and was established on December 13, 2007, with its listing date on December 28, 2016. The company specializes in the research, development, production, and sales of large heavy machinery castings [1] - The main business revenue composition includes: 87.51% from ductile iron products, 8.06% from other products, 1.71% from supplementary products, 1.67% from molds, and 1.05% from alloy products [1] Fund Holdings - The Shangzheng New Energy Industry Mixed A Fund (015732) holds a significant position in Rihua Co., Ltd., with 162,000 shares, accounting for 6.41% of the fund's net value, making it the fourth-largest holding [2] - The fund has generated a floating profit of approximately 123,100 yuan today, with a total floating profit of 110,200 yuan during the three-day increase [2] - The Shangzheng New Energy Industry Mixed A Fund was established on August 10, 2022, with a current scale of 23.5647 million yuan, achieving a year-to-date return of 24.12% and a one-year return of 18.91% [2] Fund Manager Information - The fund managers of Shangzheng New Energy Industry Mixed A are Zhang Zhimei and Shi Jingcheng. Zhang has a tenure of 7 years and 324 days, with a total fund asset size of 429 million yuan and a best return of 121.21% during her tenure [3] - Shi has a tenure of 205 days, managing assets of 32.0532 million yuan, with a best return of 15.84% during his tenure [3]

Market Overview - On October 23, the wind power equipment sector rose by 0.22%, with Xin Qiang Lian leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Stock Performance - Xin Qiang Lian (300850) closed at 53.19, up 10.42% with a trading volume of 544,600 shares and a transaction value of 2.764 billion [1] - Jin Lei Co., Ltd. (300443) closed at 30.60, up 5.52% with a trading volume of 276,700 shares and a transaction value of 820 million [1] - Ri Yue Co., Ltd. (603218) closed at 14.20, up 2.31% with a trading volume of 243,000 shares and a transaction value of 338 million [1] - Other notable stocks include Hai Li Wind Power (301155) at 66.66, up 1.83%, and Tai Sheng Wind Energy (300129) at 8.06, up 1.51% [1] Capital Flow - The wind power equipment sector experienced a net outflow of 268 million from institutional investors, while retail investors saw a net inflow of 132 million [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Da Jin Heavy Industry (002487) had a net inflow of 61.739 million from institutional investors, while retail investors had a net outflow of 10.8 million [3] - Ri Yue Co., Ltd. (603218) saw a net inflow of 30.480 million from institutional investors but a net outflow of 2.620 million from retail investors [3] - Jin Lei Co., Ltd. (300443) had a net inflow of 22.853 million from institutional investors, with retail investors experiencing a net outflow of 40.158 million [3]

Summary of Earnings Preview for China Utilities Sector Industry Overview - The report focuses on the **China Utilities** sector, specifically highlighting the **Power, Renewables, and Power Grid** industries in the Asia Pacific region - The overall industry view is considered **Attractive** [4][6] Key Insights - **3Q25 Earnings Expectations**: - Continued margin recovery is anticipated for wind component and submarine cable players - Polysilicon earnings may see upside risks - Solar module producers are expected to maintain flat or show mild decline in losses quarter-over-quarter (QoQ) [1][6] - **Coal Prices and Power Tariffs**: - A slight weakening in unit profit is expected due to a small rise in coal prices and a persistently soft power tariff [6][8] - **Sector Performance**: - Wind sector is expected to see a sector-wide gross profit (GP) margin recovery, primarily driven by submarine cables with a favorable product mix in 3Q25 - Wind Turbine Generator (WTG) Original Equipment Manufacturers (OEMs) may experience a more muted recovery [6][8] Company-Specific Highlights - **CGN Power Co., Ltd (1816.HK)**: - On-grid power generation decreased by 3% year-over-year (YoY) in 3Q25 due to longer outage times - Estimated net profit of approximately **Rmb2.6 billion**, down 6% YoY [8][10] - **China Longyuan Power Group (0916.HK)**: - Forecasted net profit of **Rmb937 million** in 3Q25, down from **Rmb1,542 million** in 2Q25 - Net profit for 9M25 expected to be **Rmb4.5 billion**, down 22% YoY [8][10] - **Huaneng Power International Inc. (0902.HK)**: - Estimated net profit of **Rmb4.1 billion**, up approximately 38% YoY but down 5% QoQ - Unit fuel cost expected to decline by **Rmb0.036/kWh** (12% YoY) [8][10] - **Jiangsu Zhongtian Technology Co. Ltd. (600522.SS)**: - Forecasted net profit of **Rmb1.03 billion** for 3Q25, up 21.1% YoY and 9.6% QoQ [8][10] - **Goldwind (2208.HK)**: - Expected net profit of **Rmb953 million**, representing a 135.1% YoY increase [10][10] - **Tongwei Co. Ltd. (600438.SS)**: - Forecasted net loss of **Rmb2.2-2.4 billion** in 3Q25, with improvements in polysilicon business due to price rebounds [10][10] - **LONGi Green Energy Technology Co. Ltd. (601012.SS)**: - Expected loss of **Rmb1.0-1.3 billion** in 3Q25, with slight declines in wafer and module shipments [10][10] Additional Observations - **Polysilicon Players**: Potential earnings surprises are anticipated due to increases in shipments and average selling prices (ASP) in 3Q25 [6][8] - **Demand Outlook**: Weaker demand is expected in 4Q25 compared to 3Q25, particularly for solar products [6][8] This summary encapsulates the key points from the earnings preview for the China Utilities sector, highlighting both the overall industry outlook and specific company forecasts.

Core Insights - On October 15, Haier Biomedical and Hainan Huatie disclosed shareholding increases, while 23 A-share listed companies announced shareholding reductions [1][3] Group 1: Shareholding Increases - Haier Biomedical's major shareholder, Jiusiyouxuan No.1 Private Securities Investment Fund, has become a shareholder with over 5% stake [3] - Hainan Huatie's second-largest shareholder, Hu Danfeng, completed a share increase plan, accumulating 6.448 million shares [3] Group 2: Shareholding Reductions - Ugreen Technology plans to reduce its shareholding by up to 1.5% [3] - Dongxin Peace's directors, Chen Zongchao and Huang Xiaopeng, plan to reduce their shareholdings [3] - Meilixin's director, Ma Minghai, and others intend to reduce their holdings by up to 0.34% [3] - Dongsoft Zhaibo's controlling shareholder, Lanhai Ruisheng, plans to reduce its stake by up to 1.06% [3] - Demingli's second-largest shareholder, Wei Hongzhang, intends to reduce its holdings by up to 1.32% [3] - Nanling Technology's shareholders plan to collectively reduce their holdings by up to 3.26% [3] - Lio Co., Ltd. plans to reduce up to 135 million shares of its repurchased shares [3] - Huizhiwei's second-largest shareholder, the National Fund Phase II, plans to reduce its holdings by up to 1% [3] - Hahuan Huadong's shareholder, Hexie Investment, plans to reduce its holdings by up to 1% [3] - Huichuangda's shareholder, Ningbo Tongjia, plans to reduce its holdings by up to 2.9999% [3] - Jinsong New Materials' shareholder, Ningbo Liyi, plans to reduce its holdings by up to 2% of the total share capital [3] - Feirongda's controlling shareholder and actual controller plan to reduce their holdings [3] - Deyi Culture's specific shareholder, Chen Lan, plans to reduce its holdings by up to 1% [3] - Sanfeng Intelligent's Dong Chenwei and his associates plan to reduce their holdings by up to 2.85% [3] - Yilian Forging's shareholder, Gaoxin Tonghua, plans to reduce its holdings by up to 3% [3] - Huada Jiutian's fourth-largest shareholder, the National Fund, has cumulatively reduced 2.7147 million shares [3] - Riyue Co., Ltd.'s director and vice president, Zhang Jianzhong, plans to reduce up to 156,900 shares [3] - Western Gold's second-largest shareholder, Yang Niurong, plans to reduce up to 18.22 million shares [3] - Yonghui Supermarket's vice president, Luo Wenxia, plans to reduce up to 109,000 shares [3] - Baobian Electric's shareholder, the financial arm of the military industry, plans to reduce up to 0.98% [3] - Keli Sensor's Lu Zhonggeng and Huang Zhaoxia plan to reduce their holdings by up to 0.4807% and 0.0359% respectively [3] - Shuhua Sports' shareholders plan to collectively reduce their holdings by up to 3% [3] - Jintuo Co., Ltd.'s shareholders, Pan Zhu He and others, plan to reduce their holdings by up to 2.95% [3]

Core Insights - On October 15, several A-share listed companies disclosed their shareholding changes, with notable increases and decreases in holdings by major shareholders [1] Group 1: Increased Holdings - Haier Biomedical's major shareholder, Jiusiyouxuan No.1 Private Securities Investment Fund, has become a shareholder with over 5% stake [2] - Hainan Huate's second-largest shareholder, Hu Danfeng, completed a share buyback plan, accumulating 6.448 million shares [2] Group 2: Decreased Holdings - Ugreen Technology's shareholders plan to reduce their holdings by up to 1.5% [2] - Dongxin Peace's directors, Chen Zongchao and Huang Xiaopeng, are planning to sell shares [2] - Meilixin's director, Ma Minghai, and others intend to reduce their holdings by up to 0.34% [2] - Dongsoft Zhaibo's controlling shareholder, Lanhai Ruisheng, plans to reduce holdings by up to 1.06% [2] - Demingli's second-largest shareholder, Wei Hongzhang, intends to reduce holdings by up to 1.32% [2] - Nanling Technology's shareholders plan to collectively reduce holdings by up to 3.26% [2] - Liou Co. plans to reduce up to 135 million shares of repurchased stock [2] - Huizhiwei's second-largest shareholder, the National Fund II, plans to reduce holdings by up to 1% [2] - Other companies, including Hahai Transportation, Huichuangda, and others, have also announced plans for share reductions [2]