Core Insights - Jiangsu New Energy (603693) reported that as of September 30, 2025, the total number of shareholders is 36,634 [1] Company Summary - Jiangsu New Energy has engaged with investors through an interactive platform, providing updates on shareholder numbers [1]

Core Viewpoint - Jiangsu Xineng's stock price has experienced fluctuations, with a year-to-date increase of 31.65% but a recent decline in the last five trading days by 3.48% [2] Group 1: Stock Performance - As of November 17, Jiangsu Xineng's stock price is 12.77 CNY per share, with a market capitalization of 11.384 billion CNY [1] - The stock has seen a net outflow of 785,300 CNY in principal funds, with no large purchases recorded [1] - Year-to-date, the stock has appeared on the leaderboard seven times, with the most recent occurrence on May 28 [2] Group 2: Financial Performance - For the period from January to September 2025, Jiangsu Xineng reported a revenue of 1.526 billion CNY, a year-on-year decrease of 2.07%, and a net profit attributable to shareholders of 390 million CNY, down 7.93% year-on-year [2] - The company's main business revenue composition includes 95.52% from electricity sales, 3.78% from steam and water supply, and 0.70% from other sources [2] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders is 36,600, a decrease of 15.20% from the previous period, with an average of 24,334 circulating shares per shareholder, an increase of 17.92% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 38,390 shares, and several ETFs that have seen changes in their holdings [3]

Meeting Overview - The second extraordinary general meeting of shareholders was held on November 7, 2025, at the Xuanwu Hall, 3rd Floor, No. 88 Changjiang Road, Xuanwu District, Nanjing [2] - The meeting was convened by the board of directors, with the chairman absent due to work commitments, and was presided over by director Huang Jingsheng [2][3] Attendance and Voting - Out of 8 current directors, 2 attended the meeting, while several others were absent due to work reasons [3] - The voting method combined on-site and online voting, complying with the Company Law and the company's articles of association [2] Resolutions Passed - The following resolutions were approved during the meeting: 1. Election of a non-independent director to the fourth board of directors [4] 2. Investment matters related to the Dafeng H19 and Dongtai H4/H6 offshore wind power projects, which included: - Approval for Jiangsu Guoxin Group Co., Ltd. to make initial investments [5] - Commitment letter from Jiangsu Guoxin Group Co., Ltd. to avoid competition [5] - Signing of a share entrustment management agreement with Jiangsu Guoxin Group Co., Ltd. [5] Legal Compliance - The meeting was witnessed by Jiangsu Tianzhe Law Firm, confirming that all procedures and resolutions were in accordance with the Company Law and relevant regulations [6]

证券代码：603693 证券简称：江苏新能 公告编号：2025-042 江苏省新能源开发股份有限公司 2025年第二次临时股东会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 339 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 699,653,687 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 78.4826 | | 份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况 等。 本次股东会由公司董事会召集，公司董事长陈华先生因工作原因未出席本次 会议，由过半数的董事共同推举董事黄晶生先生主持会议，会议采取现场投票和 网络投票相结合的方式进行表决，会议的召开、召集及表决方式符合《公司法》 (一) 股东会召开的时间：2025 年 11 月 7 日 (二) 股东会召开的地点：南京市玄武区长江路 88 号 3 ...

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Core Insights - University science parks are evolving into resource integrators that facilitate the transformation of academic research into marketable products, bridging the gap between cutting-edge technology and active industry forces [1][2] Group 1: Project Incubation and Transformation - University science parks are focusing on incubating and attracting projects, creating professional service platforms, and embedding achievement evaluation systems to enhance the conversion of research into products [1] - The technology transfer process faces challenges in motivating academic researchers to actively engage in commercialization, with some institutions offering 80%-90% profit sharing to incentivize participation [1] - Xi'an Jiaotong University has successfully managed the transformation of 1,896 patents, involving 82 companies primarily in new equipment, new materials, and new energy sectors [1] Group 2: Investment and Collaboration - University science parks are transitioning from a service-oriented model to a profit-sharing model, with institutions like Shanghai Jiao Tong University establishing a one-stop concept verification platform and raising a fund of 170 million yuan [2] - Jiangsu Province emphasizes the importance of tailored development plans for each university science park to enhance the integration of innovation and industry [2] - The establishment of collaborative frameworks involving universities, innovation parks, and alumni networks is crucial for effective technology transfer [2] Group 3: Strategic Partnerships and Ecosystem Development - A partnership agreement was signed between Hohai University and Jintan District to develop a science park focusing on new energy, new materials, and intelligent manufacturing [3] - Four innovation platforms were officially launched, including centers for new energy and strategic emerging materials, with several technology companies and venture capital firms establishing a presence [3]

Core Viewpoint - Jiangsu Xinneng, established in 2002 and listed in 2018, is the only provincial state-owned listed company in Jiangsu focusing on renewable energy, particularly in wind power generation [1] Group 1: Business Performance - For Q3 2025, the company reported revenue of 1.526 billion yuan, ranking 11th in the industry, significantly lower than the top competitor Huadian Xinneng's 29.479 billion yuan and the industry average of 7.721 billion yuan [2] - The net profit for the same period was 455 million yuan, ranking 8th in the industry, again below Huadian Xinneng's 8.37 billion yuan and the industry average of 1.775 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 53.69%, slightly down from 54.05% year-on-year and below the industry average of 60.48%, indicating lower debt pressure [3] - The gross profit margin for Q3 2025 was 50.19%, down from 52.02% year-on-year but still above the industry average of 42.94%, reflecting strong profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 15.20% to 36,600, while the average number of shares held per shareholder increased by 17.92% to 24,300 [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited ranked seventh with 1.8793 million shares, an increase of 383,900 shares from the previous period [5] Group 4: Future Outlook - According to Huachuang Securities, the company’s net profit for the first half of 2025 was 282 million yuan, a year-on-year decrease of 3.62%, with revenue of 1.054 billion yuan, a slight increase of 0.48% [6] - The company has secured significant offshore wind power project development rights, which are expected to contribute positively to future growth [6] - Tianfeng Securities projects a revenue of 2.099 billion yuan for 2024, a year-on-year increase of 7.88%, but a decrease in net profit by 11.75% [7]

Core Insights - Jiangsu New Energy (603693.SH) reported a total operating revenue of 1.526 billion yuan for Q3 2025, ranking 35th among disclosed peers, which represents a decrease of 32.27 million yuan or 2.07% year-on-year [1] - The net profit attributable to shareholders was 390 million yuan, ranking 23rd among peers, down by 33.63 million yuan or 7.93% compared to the same period last year [1] - The net cash inflow from operating activities was 918 million yuan, ranking 27th among peers, with an increase of 118 million yuan or 14.70% year-on-year, marking five consecutive years of growth [1] Financial Ratios - The latest debt-to-asset ratio is 53.69%, ranking 22nd among peers, a decrease of 0.22 percentage points from the previous quarter and 0.36 percentage points from the same period last year [3] - The latest gross profit margin is 50.19%, ranking 9th among peers, down by 1.98 percentage points from the previous quarter and 1.82 percentage points year-on-year [3] - The latest return on equity (ROE) is 5.61%, ranking 25th among peers, a decrease of 0.71 percentage points from the same period last year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share (EPS) is 0.44 yuan, ranking 12th among peers, down by 0.04 yuan or 8.33% year-on-year [3] - The latest total asset turnover ratio is 0.09 times, ranking 46th among peers, a decrease of 0.01 times or 6.72% year-on-year [3] - The latest inventory turnover ratio is 34.63 times, ranking 8th among peers, down by 2.31 times or 6.25% year-on-year [3] Shareholder Structure - The number of shareholders is 36,600, with the top ten shareholders holding 757 million shares, accounting for 84.95% of the total share capital [3] - The largest shareholder is Jiangsu Guoxin Group Co., Ltd., holding 57.27% of the shares [3]

Core Viewpoint - The company reported a decline in power generation across its various renewable energy projects for the first three quarters of 2025, with specific decreases in wind and biomass energy production, while solar energy generation showed growth [5][6]. Financial Data - Total power generation from controlled renewable energy projects was 2.56 billion kWh, a year-on-year decrease of 3.72% [5]. - Grid-connected power generation was 2.42 billion kWh, down 3.92% year-on-year [5]. - Wind power generation in Jiangsu was affected by poor wind resources, with total generation of 2.32 billion kWh, a decline of 4.61% year-on-year [5]. - Onshore wind projects generated 1.62 billion kWh, down 3.57%, while offshore wind projects generated 698 million kWh, down 6.93% [5]. - Solar power generation reached 242 million kWh, an increase of 6.14%, with grid-connected generation at 176 million kWh, up 2.92% [5]. - Biomass projects are currently in a transitional phase, with total heating supply of 284,100 tons, a decrease of 18.36% year-on-year [5]. Corporate Governance - The company held its 15th meeting of the 4th Board of Directors on October 28, 2025, with all 8 directors present, complying with relevant regulations [7][9]. - The board approved the third-quarter report for 2025 and an internal organizational structure adjustment to enhance governance and operational efficiency [9][11]. Investor Communication - The company will hold a performance briefing on November 5, 2025, to discuss the third-quarter results and address investor questions [16][20]. - Investors can submit questions in advance via email or through the Shanghai Stock Exchange Roadshow Center [15][20].

Group 1 - The company, Jixin Technology (601218), announced plans to acquire 57.4531% equity in Jiangsu Xinneng Bearing Manufacturing Co., Ltd. for a total cash payment of 239 million yuan, which will result in the company holding 100% equity in Xinneng Bearing after the transaction [1] - In the third quarter report for 2025, the company disclosed a net profit of 32.4986 million yuan, representing a year-on-year increase of 1065.54% [1]