Group 1 - The company, Zhenjiang Co., Ltd. (603507.SH), is currently in the small-batch production stage of its exoskeleton robots [1]

Group 1 - The company, Zhenjiang Co., announced on September 11 that its exoskeleton robots are currently in the small batch production stage [1]

2025 年第一次临时股东大会会议资料 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 会议资料 证券代码：603507 二〇二五年九月 2025 年第一次临时股东大会 1 2025 年第一次临时股东大会会议资料 江苏振江新能源装备股份有限公司 会议资料目录 | 年第一次临时股东大会会议通知 3 2025 | | --- | | 议案一：《关于取消监事会并修订<公司章程>及相关议事规则的议案》 7 | | 议案二：《关于修订<募集资金管理制度>的议案》 8 | | 议案三：《关于修订<独立董事工作制度>的议案》 9 | 2 2025 年第一次临时股东大会会议资料 江苏振江新能源装备股份有限公司 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东 大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互联网投 票平台的投票时间为股东大会召开当日的 9:15-15:00。 二、会议召集人 现场投票和网络投票相结合 3 一、会议时间、地点 （一）现场股东大会 时间：2025 年 9 月 16 日 13 点 30 分 地点：江苏江阴市镇澄 ...

Company Overview - Zhenjiang Co., Ltd. is located in Jiangyin City, Jiangsu Province, and was established on March 1, 2004. The company was listed 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 [1][2]. Financial Performance - For the first half of 2025, Zhenjiang Co., Ltd. achieved operating revenue of 1.834 billion yuan, a year-on-year decrease of 6.27%. The net profit attributable to the parent company was 15.6935 million yuan, down 87.29% year-on-year [2]. - Since its A-share listing, Zhenjiang Co., Ltd. has distributed a total of 240 million yuan in dividends, with 138 million yuan distributed in the last three years [3]. Stock Performance - As of September 9, Zhenjiang Co., Ltd.'s stock price was 26.29 yuan per share, with a market capitalization of 4.845 billion yuan. The stock has increased by 10.72% year-to-date but has decreased by 2.12% in the last five trading days and 6.11% in the last 20 trading days [1]. - The company 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 [1]. Shareholder Information - As of June 30, 2025, Zhenjiang Co., Ltd. had 28,400 shareholders, an increase of 56.11% from the previous period. The average number of circulating shares per person was 6,487, a decrease of 35.94% [2]. - Among the top ten circulating shareholders, the fund "Jianxin New Energy Industry Stock A" ranked tenth with 1.2263 million shares, a decrease of 1.6827 million shares from the previous period [3].

Group 1 - The company primarily produces steel structural components such as generator bases and casings for gas turbines [1] - The introduction of state-owned capital into the Nantong casting project will enhance the financial strength of the casting subsidiary, promoting the company's healthy operation and sustainable development [1] - The company's exoskeleton robots are expected to be trialed in 2-3 scenic spots during the National Day holiday [1]

Core Insights - The article highlights the significant financial support provided by Hengfeng Bank to Jiangsu Zhenjiang Casting Technology Co., which is crucial for the development of a key wind power component manufacturing project in Jiangsu [1][5][6] - The project aims to produce 200,000 tons of core components for wind power annually, with a total investment of 806 million yuan, and is expected to enhance the local new energy industry [3][4] Financial Support - Hengfeng Bank has efficiently allocated 80 million yuan in credit to support the project, demonstrating its commitment to facilitating the advancement of high-end, intelligent, and green manufacturing [1][6] - The bank's rapid response included forming a dedicated team to assess the project and streamline the financing process, completing approvals in just three weeks instead of the usual two months [5][6] Project Details - The project, which is a benchmark for high-end equipment manufacturing in the Haimen Port Economic Development Zone, will have a construction area of 120,000 square meters and aims to produce 135,000 tons of large megawatt wind turbine castings annually, with 90% of the output targeted for the global market [3][4] - This facility will be the first in China to scale the application of 3D printing technology for manufacturing sand molds, significantly reducing labor dependency and ensuring high-quality standards [4] Industry Context - Jiangsu Zhenjiang New Energy Equipment Co., the parent company, is recognized as a national-level "specialized, refined, and innovative" enterprise, collaborating with global leaders like Siemens and General Electric in the renewable energy sector [3][4] - Hengfeng Bank's actions align with national "dual carbon" strategies, integrating ESG principles into its operations and focusing on green finance to support sustainable development [6][7]

Core Insights - The article highlights the significant financial support provided by Hengfeng Bank to Jiangsu Zhenjiang Casting Technology Co., which is developing a key project for wind power component manufacturing [1][5][6] - The project aims to produce 200,000 tons of wind power core components annually, with a total investment of 806 million yuan, and is expected to enhance the local new energy industry [3][4] Company Overview - Jiangsu Zhenjiang Casting Technology Co. is a subsidiary of Jiangsu Zhenjiang New Energy Equipment Co., a national-level "specialized and innovative" enterprise with strong technical capabilities in the wind and solar equipment manufacturing sector [3][4] - The company collaborates with global leaders such as Siemens and General Electric, leveraging its parent company's core technologies and resources [3] Project Details - The "Green Intelligent Casting Project" will be the first in China to scale the use of 3D printing technology for sand mold manufacturing, significantly reducing labor dependency and ensuring high-quality standards [4] - The project covers an area of 120,000 square meters and aims to achieve an annual production capacity of 135,000 tons of large megawatt wind turbine castings, with 90% of the output targeted for the global market [3][4] Financial Support - Hengfeng Bank provided 80 million yuan in credit to support the project, demonstrating its commitment to facilitating the high-end, intelligent, and green development of the manufacturing sector [6] - The bank's rapid response included forming a dedicated team to assess project needs and streamline financing processes, completing approvals in just three weeks instead of the usual two months [5][6] Industry Trends - The article emphasizes the shift towards green and intelligent manufacturing in the energy sector, aligning with national "dual carbon" strategies and the integration of ESG principles into financial services [6][7] - Hengfeng Bank reported a nearly 20% increase in green credit by mid-2023, reflecting its focus on supporting the green transformation of the economy [6][7]

Core Viewpoint - The financial performance of Zhenjiang Co., Ltd. (振江股份) for the first half of 2025 shows significant declines in revenue and net profit, indicating increased short-term debt pressure and a need for careful monitoring of cash flow and debt levels [1][4]. Financial Performance Summary - Total revenue for the first half of 2025 was 1.834 billion yuan, a decrease of 6.27% compared to 2024 [1]. - Net profit attributable to shareholders was 15.6935 million yuan, down 87.29% year-on-year [1]. - The gross profit margin was 20.26%, a decline of 7.62% from the previous year [1]. - The net profit margin fell to 0.98%, a decrease of 84.69% [1]. - Total expenses (selling, administrative, and financial) amounted to 157 million yuan, accounting for 8.58% of revenue, an increase of 2.17% [1]. - Earnings per share dropped to 0.09 yuan, down 86.57% year-on-year [1]. Cash Flow and Debt Analysis - The liquidity ratio reached 0.98, indicating rising short-term debt pressure [1]. - Cash and cash equivalents increased by 65.53% to 1.096 billion yuan [1]. - The ratio of interest-bearing liabilities to total assets reached 45.66%, with total interest-bearing liabilities increasing by 68.21% to 4.041 billion yuan [4]. Business Model and Investment Returns - The company's return on invested capital (ROIC) was 6.22%, indicating average capital returns [3]. - Historical data shows a median ROIC of 7.26% since the company went public, with the lowest ROIC recorded at 3.26% in 2019 [3]. - The company's performance is heavily reliant on capital expenditures, necessitating scrutiny of the effectiveness of these investments [3]. Market Expectations - Analysts project that the company's performance for 2025 will yield a net profit of 281 million yuan, with an average earnings per share forecast of 1.52 yuan [5]. Fund Holdings - The largest fund holding Zhenjiang Co., Ltd. shares is the Fortune Insight Value Stock A fund, which has reduced its holdings to 1.1802 million shares [6].

Group 1 - The meeting of the Supervisory Board of Jiangsu Zhenjiang New Energy Equipment Co., Ltd. was held on August 27, 2025, with all three supervisors present, and the meeting was conducted legally and effectively [1][2] - All resolutions proposed during the meeting were approved unanimously, with no votes against or abstentions [2] - The Supervisory Board confirmed that the company's 2025 semi-annual report was prepared in accordance with legal and regulatory requirements, accurately reflecting the company's actual situation without any false statements or omissions [1][2] Group 2 - The Supervisory Board decided to cancel the Supervisory Board and amend the Articles of Association and related rules, which is a necessary adjustment based on the latest revisions of the Company Law and other relevant regulations [2] - The decision to cancel the Supervisory Board will allow the Audit Committee of the Board of Directors to exercise the powers of the Supervisory Board as stipulated by the Company Law, ensuring no harm to the company and shareholders' interests [2]

Meeting Information - The first extraordinary general meeting of shareholders for 2025 will be held on September 16, 2025, at 13:30 [1] - The meeting will take place at the conference room of Jiangsu Zhenjiang New Energy Equipment Co., Ltd., located at No. 2608, Zhencheng Road, Jiangyin City [1] - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange's online voting system [1][2] Voting Procedures - Online voting will be available on the day of the meeting from 9:15 to 15:00, with specific trading time slots for the voting platform [2] - Shareholders can vote via the trading system or the internet voting platform, with identity verification required for first-time users [3][4] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts [4] Meeting Agenda - The meeting will review proposals that have already been approved by the company's board and supervisory board [3] - There are no related shareholders that need to abstain from voting on the proposals [3] Attendance Requirements - Shareholders registered by the close of trading on September 9, 2025, are eligible to attend the meeting [6] - Various parties, including company directors, senior management, and appointed lawyers, may also attend [6] Registration Process - Shareholders are encouraged to register for the meeting, with specific documentation required for both individual and corporate shareholders [6] - Registration can be done on-site or via mail/fax, with contact information required [6]