Core Viewpoint - The company, Zhenjiang Co., announced that shareholder Hu Zhen plans to reduce his stake by no more than 3% of the company's shares [1] Group 1 - The reduction in shareholding indicates a potential shift in shareholder sentiment or strategy [1] - The specific percentage of shares to be reduced is capped at 3%, which may suggest a controlled approach to divestment [1]

Company Overview - Zhenjiang Co., Ltd. is located in Jiangyin City, Jiangsu Province, and was established on March 1, 2004. The company went public on November 6, 2017. Its main business includes the design, processing, and sales of wind power equipment, photovoltaic equipment components, and fasteners, as well as offshore wind power installation and operation services [2]. Financial Performance - As of June 30, 2025, Zhenjiang Co. achieved operating revenue of 1.834 billion yuan, a year-on-year decrease of 6.27%. The net profit attributable to shareholders was 15.6935 million yuan, down 87.29% year-on-year [3]. - The company has cumulatively distributed 240 million yuan in dividends since its A-share listing, with 138 million yuan distributed in the last three years [4]. Stock Performance - Zhenjiang Co.'s stock price has increased by 17.50% year-to-date, with a 0.61% increase over the last five trading days, a 0.72% increase over the last 20 days, and a 14.30% increase over the last 60 days [2]. - The stock reached a price of 27.90 yuan per share on September 26, with a market capitalization of 5.142 billion yuan [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 28,400, up 56.11% from the previous period. The average number of circulating shares per person decreased by 35.94% to 6,487 shares [3]. - The top ten circulating shareholders include Jianxin New Energy Industry Stock A, which holds 1.2263 million shares, a decrease of 1.6827 million shares from the previous period [4]. Market Activity - The stock has appeared on the "Dragon and Tiger List" four times this year, with the most recent appearance on May 6, where it recorded a net buy of -13.9975 million yuan [2].

Market Overview - The wind power equipment sector experienced a decline of 0.49% on September 22, with Xin Qiang Lian leading the drop [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Stock Performance - Notable gainers in the wind power equipment sector included Hengrun Co. (603985) with a closing price of 16.24, up 3.18%, and Changyou Technology (301557) at 78.05, up 2.59% [1] - Conversely, Xin Qiang Lian (300850) saw a significant decline of 3.12%, closing at 38.75 [2] Trading Volume and Capital Flow - The total trading volume for the wind power equipment sector indicated a net outflow of 306 million yuan from institutional investors, while retail investors saw a net inflow of 206 million yuan [2] - The trading data showed that major stocks like Daqian Heavy Industry (002487) and Hewei Electric (603063) had varying levels of net capital inflow and outflow [3] Individual Stock Analysis - Daqian Heavy Industry (002487) had a net inflow of 65.14 million yuan from major investors, while retail investors experienced a net outflow of 78.41 million yuan [3] - Hengrun Co. (603985) reported a net inflow of 9.48 million yuan from major investors, but a significant outflow of 35.53 million yuan from retail investors [3]

Group 1 - Xinjiang Zhenjiang Yingzhen New Energy Co., Ltd. has been established with a registered capital of 10 million yuan [1] - The legal representative of the company is Chen Jinwan [1] - The business scope includes sales of wind power equipment, research and development of wind power systems, and technical services for wind and solar power generation [1] Group 2 - The company is jointly held by Jiangsu Yingzhen Electric Power Industry Co., Ltd. and Liaoning Zheneng Technology Co., Ltd., a wholly-owned subsidiary of Zhenjiang Co., Ltd. (stock code: 603507) [1]

证券代码：603507 证券简称：振江股份 公告编号：2025-063 江苏振江新能源装备股份有限公司 2025年第一次临时股东大会决议公告 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： 本次股东大会由公司董事会召集，现场会议由董事长胡震先生主持，公司其 他董事、监事和高级管理人员和公司聘请的法律顾问参加了会议，会议采用现场 投票与网络投票相结合的表决方式进行，本次会议的召集、召开及表决方式符合 《公司法》及《公司章程》的有关规定。 (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 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 9 月 16 日 (二)股东会召开的地点：江阴市镇澄路 2608 号江苏振江新能源装备股份有限公 司会议室 (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 | 217 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股 ...

法律意见书 为出具本法律意见书，本所律师审查了《江苏振江新能源装备股份有限公司 第四届董事会第十二次会议决议公告》《江苏振江新能源装备股份有限公司第四 届监事会第十一次会议决议公告》《江苏振江新能源装备股份有限公司关于召开 2025 年第一次临时股东大会的通知》（以下简称"《召开股东大会通知》"）以及 本所律师认为必要的其他文件和资料，同时审查了出席现场会议股东的身份和资 格，本所见证律师现场参加了会议并进行见证。 上海汉盛律师事务所 关于江苏振江新能源装备股份有限公司 2025 年第一次临时股东大会的法律意见书 致：江苏振江新能源装备股份有限公司 江苏振江新能源装备股份有限公司（以下简称"公司"）2025 年第一次临时股 东大会（以下简称"本次股东大会"）采用现场投票与网络投票相结合的方式召开， 其中现场会议于 2025 年 9 月 16 日 13:30 在江阴市镇澄路 2608 号公司会议室召 开。上海汉盛律师事务所（以下简称"本所"）接受公司聘任，指派本所律师参加 本次股东大会现场会议，并根据《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》"）、《上市公司股东会规则》（以下简称" ...

Group 1 - The core point of the article is that Zhenjiang Co., Ltd. (603507.SH) has reported that all gas turbine component products it undertakes are currently exported overseas, achieving annual sales in the tens of millions [1] Group 2 - The company has successfully established a significant export market for its gas turbine components, indicating strong international demand [1] - The annual sales figure is described as being in the range of tens of millions, highlighting the scale of the company's operations in this sector [1]

Group 1 - The company is currently optimizing its industrial-grade exoskeleton and has not yet implemented large-scale internal usage [1] - The consumer-grade exoskeleton is planned for a small batch launch in scenic areas during this year's National Day holiday, with further optimizations based on customer feedback before mass sales [1]

Investment Rating - The report indicates a positive investment outlook for the offshore wind operation and maintenance (O&M) industry, highlighting its long-term growth potential driven by policy support and technological advancements [3][30]. Core Insights - The offshore wind O&M industry focuses on the lifecycle maintenance of offshore wind farms, ensuring the safe and efficient operation of wind turbines while minimizing lifecycle costs. The industry is characterized by high technical and cost requirements, extensive operational scope, and limited working windows [3][4]. - China's offshore wind resources are abundant, and the market is expanding due to strong government support. The installed capacity of offshore wind power in China has seen significant growth over the past decade, with expectations for continued expansion [3][30]. - By 2025, it is projected that China's newly installed capacity will reach 88 GW, indicating a stable increase in market size [30]. Industry Definition - The offshore wind O&M industry encompasses specialized services for the operation, maintenance, repair, and management of offshore wind farms, aiming to maximize generation efficiency and extend equipment lifespan while reducing lifecycle costs [4][5]. Industry Classification - The offshore wind O&M industry can be categorized based on service providers into three types: developer self-operation, manufacturer-contracted operation, and independent third-party operation [4][5]. Industry Characteristics - The industry features high operational technology and cost, extensive operational scope, and short working windows. The complexity of offshore environments leads to higher failure rates for offshore wind turbines compared to onshore ones [5][6][8]. Development History - The offshore wind O&M industry has evolved through four stages: initiation and acceleration (2001-2009), phase adjustment (2010-2013), stable development (2014-2020), and a new growth phase (2021-present) [9][10][12][14]. Market Size - The market size of the offshore wind O&M industry in China grew from 400 million RMB in 2017 to 7.52 billion RMB in 2024, with a compound annual growth rate (CAGR) of 52.06%. It is expected to reach 10.51 billion RMB by 2025 and 19.1 billion RMB by 2026, with a CAGR of 81.73% [27][28]. Future Market Drivers - The growth of the offshore wind O&M market is driven by large-scale offshore wind construction, policy support, and decreasing construction costs. The increasing number of offshore wind turbines reaching the end of their warranty period will also boost demand for O&M services [30][31].

Group 1 - The core point of the article is that Zhenjiang Co., Ltd. (603507) has announced that its exoskeleton robots are currently in the small batch production stage [1]