Group 1 - The company held its fifth board meeting on May 26, 2025, with all nine directors present, achieving a 100% attendance rate [2] - The board approved a share repurchase plan aimed at enhancing investor confidence and supporting the company's long-term incentive mechanisms [2][21] - The repurchase will utilize the company's own funds, with a total amount set between RMB 100 million and RMB 200 million [9][17] Group 2 - The repurchase period is set for 12 months, from May 26, 2025, to May 25, 2026 [5][24] - The maximum repurchase price is capped at RMB 35.00 per share, which is 150% of the average trading price over the previous 30 trading days [10][28] - The repurchased shares will be used for employee stock ownership plans or equity incentives, and any unutilized shares after 36 months will be canceled [12][17] Group 3 - The company plans to repurchase between 2.86 million and 5.71 million shares, representing approximately 0.59% to 1.18% of the total share capital [9][27] - The repurchase will be conducted through the Shanghai Stock Exchange's trading system [4][23] - The company has established a dedicated securities account for the repurchase [40]

2025 年 5 月 26 日，杭州海兴电力科技股份有限公司（以下简称"海兴电力" 或"公司"）第五届董事会第四次会议在公司会议室以现场结合通讯表决的方式 召开。本次会议通知于 2025 年 5 月 21 日以电子邮件的形式向各位董事发出，会 议应参加董事 9 名，实际参加董事 9 名，占全体董事人数的 100%，会议由董事 长周良璋先生主持。本次会议的召集、召开以及表决程序符合《公司法》及《公 司章程》的有关规定，会议形成的决议合法有效。 二、董事会会议审议情况 审议通过了《关于以集中竞价交易方式回购股份方案的议案》 会议审议并通过了下列事项： 证券代码：603556 证券简称：海兴电力 公告编号：2025-037 杭州海兴电力科技股份有限公司 第五届董事会第四次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 (一)公司本次回购股份的目的 基于对公司未来发展的信心，进一步完善公司长效激励机制，同时维护广大 投资者利益，增强投资者信心，促进公司可持续健康发展，在综合考虑公司经营 情况 ...

证券代码：603556 证券简称：海兴电力 公告编号：2025-038 杭州海兴电力科技股份有限公司 关于以集中竞价交易方式回购股份的回购报告书 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个别及连带责任。 重要内容提示： 回购股份的用途：本次回购股份拟用于员工持股计划或股权激励。杭州 海兴电力科技股份有限公司（以下简称"海兴电力"或"公司"）如未能在股份 回购实施完成之后 36 个月内使用完毕已回购股份，尚未使用的已回购股份应全 部予以注销； 回购资金总额：不低于人民币 1 亿元（含）不高于人民币 2 亿元（含）。 最终回购数量以公司实际回购情况为准； 回购期限：自董事会审议通过回购股份方案之日起 12 个月内（即 2025 年 5 月 26 日至 2026 年 5 月 25 日）； 回购价格：不超过人民币35元/股（含），该回购价格上限不高于董事会 通过回购决议前30个交易日公司股票交易均价的150%； 回购资金来源：公司自有资金； 回购股份方式：通过上海证券交易所交易系统以集中竞价交易方式回购 公司股份； 相关股东是否存在减持计 ...

Group 1 - The core event was the "CICC-Haixing New Quality Productivity Innovation Forum" held on May 23, where Haixing Electric and CICC signed a cooperation agreement focusing on new energy, IoT, and AI [1][2] - Haixing Electric aims to become a global expert in green energy and clean water solutions, emphasizing the integration of AI with the energy industry to reshape the global energy system [1][2] - The partnership will leverage "capital + industry" dual-driven strategies to promote collaborative innovation across the industry chain [1][2] Group 2 - CICC Capital's chairman highlighted that private equity is a crucial driver for cultivating new quality productivity, with the establishment of the CICC-Haixing (Suzhou Xiangcheng) Fund aimed at leading the development of new quality productivity in the Yangtze River Delta [2] - Haixing Electric announced a total subscription of 800 million yuan for the new fund, with Haixing contributing 392 million yuan, representing 49% of the total [2] - The forum signifies a new phase in the strategic cooperation between Haixing Electric and CICC, providing new insights for the digital transformation of the energy sector [2]

Core Viewpoint - The collaboration between CICC Private Equity, Haixing Electric, and Caohu Capital focuses on investing in cutting-edge fields such as renewable energy, IoT, and artificial intelligence, aiming to drive innovation through a "capital + industry" dual approach [1][3]. Group 1: Partnership and Investment Strategy - A cooperation agreement was signed to strategically invest in renewable energy, IoT, and AI, enhancing collaboration across the industry chain [1][3]. - The CICC Haixing Fund will leverage partnerships with quality equity projects along the industry chain, focusing on advanced technology sectors [5][7]. - The total committed capital for the fund is RMB 800 million, with Haixing Electric contributing RMB 392 million as a limited partner [7]. Group 2: Industry Insights and Future Outlook - Haixing Electric's chairman emphasized the significant impact of energy transition on globalization and the potential of decentralized technologies in distributed energy trading [3]. - The integration of artificial intelligence with the energy sector is reshaping the global energy landscape, marking a new phase of innovation in energy production [5]. - The partnership aims to build a global supply chain platform, enhancing the company's competitive edge by combining local insights with a global perspective [3].

Investment Rating - The investment rating for the company is "Outperform the Market" [5][22][23] Core Views - The company's performance is under short-term pressure, but its overseas distribution business is poised for growth. The company expects a revenue increase of 12.3% year-on-year to 4.72 billion yuan in 2024, with a net profit of 1 billion yuan, reflecting a 2% increase year-on-year [1][8] - The company is expanding its overseas distribution business, with projected revenue of 4.535 billion yuan in 2024, a 13% increase year-on-year, and a gross margin of 45.3% [2][13] - Domestic distribution business is also growing steadily, with expected revenue of 1.595 billion yuan in 2024, a 20.6% increase year-on-year [14] Financial Performance Summary - In 2024, the company is projected to achieve a total revenue of 4.72 billion yuan, with a net profit of 1 billion yuan, and a gross margin of 43.9% [1][8] - The company’s expenses are expected to rise due to foreign exchange losses and an increase in personnel, leading to a total expense of 880 million yuan in 2024, a 54% increase year-on-year [3][16] - The company has adjusted its profit forecasts for 2025-2027 to 1.122 billion yuan, 1.241 billion yuan, and 1.36 billion yuan respectively, reflecting year-on-year growth of 12%, 10.6%, and 9.6% [22][25] Market Position and Valuation - The current stock price is 26.98 yuan, with a market capitalization of 13.119 billion yuan. The price-to-earnings (PE) ratios for 2024, 2025, and 2026 are projected to be 11.7, 10.5, and 9.6 respectively [5][22][23] - The company has a strong position in the domestic market, having won contracts worth 1.123 billion yuan in the national grid and southern grid sectors, which is a 28% increase year-on-year [14]

Core Viewpoint - Haixing Electric Power aims to enhance digital transformation and energy structure upgrades for global electricity customers, achieving a revenue of 4.717 billion yuan with a year-on-year growth of 12.3% and a net profit of 1.002 billion yuan, marking four consecutive years of growth [1] Group 1: Business Performance - The smart distribution and utilization business, as the core segment, generated a revenue of 4.535 billion yuan, up 13.35% year-on-year, with overseas revenue at 2.940 billion yuan (up 9.77%) and domestic revenue at 1.595 billion yuan (up 20.61%) [1] - The company has established nine overseas production bases and over 30 branches, covering more than 110 countries and regions, making it the domestic leader in overseas market coverage [2] - In the domestic market, Haixing Electric Power won bids totaling 1.123 billion yuan for energy metering and collection equipment, reflecting a year-on-year increase of 27.98% [2] Group 2: New Energy Business - The new energy segment generated a revenue of 143 million yuan, down 12.32% year-on-year, but the company continues to enhance its product system, offering comprehensive solutions including charging piles, inverters, and energy management systems [2] - The company is strengthening its capabilities in system design and local implementation for commercial microgrids, accelerating project deployment across Asia, Africa, Latin America, and Europe [3] - The integration of new energy and distribution business is part of the company's strategy to improve global delivery efficiency and systematic service capabilities [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [7] Core Views - The company reported a total revenue of 784 million yuan in Q1 2025, a year-on-year decrease of 12.99% and a quarter-on-quarter decrease of 40.00%. The net profit attributable to the parent company was 141 million yuan, down 34.07% year-on-year and 33.06% quarter-on-quarter, indicating continued pressure on performance [5][13] - The accounts receivable for Q1 2025 stood at 1.229 billion yuan, an increase of 19.41% year-on-year. The company is focusing on deepening its overseas market presence, which is expected to accelerate cash collection and contribute to revenue growth [5][14] Summary by Sections Financial Performance - In Q1 2025, the company achieved total revenue of 784 million yuan, down 12.99% year-on-year and 40.00% quarter-on-quarter. The net profit attributable to the parent company was 141 million yuan, reflecting a year-on-year decline of 34.07% and a quarter-on-quarter decline of 33.06% [5][13] Business Strategy - The company is accelerating the establishment of localized operations overseas, with new production bases in Europe, Latin America, and Africa. It has established 9 overseas production bases and 25 branches, covering over 110 countries and regions, which helps mitigate risks from local policies and market competition [14] - The company is increasing its R&D investment, with R&D expenses in Q1 2025 amounting to 74 million yuan, a year-on-year increase of 18.30%. It is enhancing its AMI technology and has launched various system solutions in smart grids and renewable energy sectors [15] Revenue and Profit Forecast - The company expects revenues for 2025, 2026, and 2027 to be 5.861 billion yuan, 7.005 billion yuan, and 7.696 billion yuan, respectively, with year-on-year growth rates of 24.24%, 19.52%, and 9.87%. The net profit attributable to the parent company is projected to be 1.103 billion yuan, 1.472 billion yuan, and 1.655 billion yuan for the same years, with growth rates of 10.04%, 33.52%, and 12.43% [16][17]

以下文章来源于睿兽Pro ，作者Bestla 睿兽Pro . 创业邦旗下横跨一二级市场的科创数据平台。实时投资数据、追踪产业创新。找数据、做分析、链资 源，就上睿兽分析。 上周基金重点事件回顾丨 05.12-05.18 睿兽分析每周整理最值得关注的 基金重点事件 ，帮助大家及时了解全球私募股权基金市场动向。 政府引导基金 湖州发布300亿产业母基金 近日，2025湖州未来大会开幕。会上，发布了总规模300亿元的湖州市产业母基金和全市首批15个 应用场景、25个场景项目；各区县作了投资环境视频推介；106个项目集中签约，总投资691.2亿 元，涵盖新能源汽车及关键零部件、半导体及光电、生物医药、高端装备等制造业，以及人才、科 技、现代服务业及农业等领域。据介绍，湖州市产业母基金总规模300亿元，采用"子基金+直投"模 式。直投模式强化链主引领，重点支持总投资10亿元以上重大引领性项目落地，重点投向新能源汽车 及关键零部件、半导体及光电、人工智能、高端装备、低空经济、生物医药等领域。子基金模式支持 投早、投小、投硬科技、投重大科创平台，子基金设立数量达30只。 （ 湖州发布） 安徽120亿元新能源环保基金选定第五 ...

Group 1 - The company will hold a performance briefing for the first quarter of 2025 on May 27, 2025, from 13:00 to 14:00 [1][2] - The briefing will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [2][3] - Investors can submit questions from May 20 to May 26, 2025, and the company will address commonly asked questions during the briefing [1][3] Group 2 - Key participants in the briefing will include the Chairman, Vice Chairman and CFO, General Manager, Independent Director, and Board Secretary [2] - Investors can access the briefing online through the Shanghai Stock Exchange Roadshow Center [2][3] - After the briefing, investors can view the main content and outcomes of the event on the same platform [3]