格隆汇12月16日丨白云电器(603861.SH)公布，为优化公司控股子公司股权及资产结构，强化对控股子 公司的战略管控与资源整合，提升运营决策效率，实现业务的协同并促进其良性运营和可持续发展，公 司于2025年12月15日召开第七届董事会第二十五次会议，审议通过《关于收购控股子公司剩余少数股东 股权并以债转股方式对其增资的议案》，同意公司以1,500万元的交易价格收购控股子公司浙江白云浙 变电气设备有限公司（以下简称"浙变电气"）少数股东卧龙控股集团有限公司（以下简称"卧龙控股集 团"）持有的浙变电气10%股权，并在公司对浙变电气全资控股后将所持浙变电气债权中的25,000万元 以债权转股权的方式对浙变电气增资，其中15,000万元计入注册资本，10,000万元计入资本公积。本次 增资完成后，浙变电气的注册资本由35,000万元增至50,000万元，总资产不变，净资产将增至18,943.43 万元，资产负债率将降至85.72%。 ...

白云电器公告，公司于2025年12月15日召开董事会，审议通过了收购控股子公司浙江白云浙变电气设备 有限公司剩余少数股东股权并以债转股方式增资的议案。公司将以1500万元收购卧龙控股集团持有的浙 变电气10%股权，并在全资控股后将2.5亿元债权转为增资，其中1.5亿元计入注册资本，1亿元计入资本 公积。增资后，浙变电气注册资本增至5亿元，净资产增至1.89亿元，资产负债率降至85.72%。本次交 易不构成重大资产重组，且不涉及关联交易。 ...

Core Viewpoint - The company announced that its subsidiary, Guilin Electric Capacitor Co., Ltd., has provided a guarantee for its wholly-owned subsidiary, Guilin Zhiyuan, to secure a credit facility of up to 50 million yuan from China Minsheng Bank, Guilin Branch [1][6]. Group 1: Guarantee Details - The guarantee amount is capped at 50 million yuan, with 30 million yuan being a renewal of a previous guarantee [6]. - The guarantee covers various financial obligations including principal, interest, penalties, and other related costs associated with the credit facility [6][8]. - The guarantee period lasts for three years from the maturity date of the debt [7]. Group 2: Internal Decision-Making Process - The company’s board and supervisory committee approved the guarantee during meetings held on April 28, 2025, and the shareholders authorized the management to approve guarantees within a total limit of 61.3 million yuan [2][3]. - The specific guarantee for Guilin Zhiyuan is limited to 13 million yuan as part of the overall authorization [2]. Group 3: Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary to support Guilin Zhiyuan's operational funding needs and is within the company's strategic development framework [8][9]. - The company maintains effective control over the subsidiary, ensuring that risks are manageable and do not harm the interests of shareholders, particularly minority shareholders [8]. Group 4: Cumulative Guarantee Situation - As of the announcement date, the total external guarantee balance is 228 million yuan, representing 6.53% of the audited net assets attributable to shareholders [10]. - There are no overdue guarantees reported [10].

证券代码：603861 证券简称：白云电器 公告编号：2025-102 广州白云电器设备股份有限公司 关于控股子公司为其全资子公司提供担保 的进展公告 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： 担保对象及基本情况 | | 被担保人名称 | 桂林智源电力电子有限公司（以下 简称"桂林智源"） | | | | --- | --- | --- | --- | --- | | | 本次担保金额 | 5,000 | 万元 | | | 担保对象 | 实际为其提供的担保余额 | 7,000 | 万元 | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保总额（万元） | 22,800 | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 6 ...

Core Insights - The A-share market indices showed mixed performance, with the power grid equipment sector stabilizing and rebounding after previous adjustments. The only power grid equipment ETF (159326) experienced a surge, aiming for a fourth consecutive increase, with a current rise of 0.21% and a trading volume of 1.21 billion yuan as of 10:30 AM [1] - The power grid equipment ETF (159326) has seen a net inflow for eight consecutive days, accumulating over 605 million yuan, reaching a new high of 2.54 billion yuan in total assets since its inception [1] - The increasing demand for AI computing power has highlighted vulnerabilities in the U.S. power grid. Microsoft CEO Satya Nadella indicated that the real bottleneck is not chip supply but rather "power supply," as data centers are nearing their limits in terms of power and physical space [1] - Goldman Sachs predicts that investments in global digital infrastructure and energy systems driven by AI will reach 5 trillion dollars over the next decade, with power grid equipment being a direct beneficiary of this investment wave [1] Related Products - The power grid equipment ETF (159326) is the only ETF tracking the CSI Power Grid Equipment Theme Index, with a strong representation in sectors such as transmission and transformation equipment, grid automation equipment, cable components, and distribution equipment. The ultra-high voltage sector accounts for 65% of the index, the highest in the market [2] - The Green Power ETF (562550) and its off-market links (018734/018735) track the CSI Green Power Index, including clean energy companies like hydropower, wind power, and solar power, as well as transitional samples from thermal and nuclear power. Leading companies in the power sector have stable performance and high dividend yields, making them attractive for risk-averse asset allocation [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603861 证券简称：白云电器 公告编号：2025-101 广州白云电器设备股份有限公司 二、回购股份的进展情况 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第7号一一回购股份》等相关 规定，在回购股份期间，上市公司应当在每个月的前3个交易日内，公告截至上月末的回购进展情况。 现将公司回购股份的进展情况公告如下： 截至2025年11月30日，公司通过上海证券交易所交易系统以集中竞价交易方式累计回购股份86,500股， 已回购股份占公司总股本540,527,955股的比例为0.0160%，回购成交的最高价为11.60元/股，最低价为 11.60元/股，成交总金额为人民币100.34万元（不含交易费用）。 上述回购股份符合法律法规的规定及公司回购股份方案的要求。 三、其他事项 关于回购公司股份的进展公告 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： ■ 一、回购股份的基本情况 2025年8月1日，公司召开第七届董事会第十九次会议、第 ...

Summary of Key Points Core Viewpoint - Baiyun Electric (603861.SH) has announced a share buyback program, indicating a commitment to returning value to shareholders and potentially signaling confidence in the company's future performance [1] Group 1: Share Buyback Details - As of November 30, 2025, the company has repurchased a total of 86,500 shares through the Shanghai Stock Exchange trading system [1] - The repurchased shares account for 0.0160% of the company's total share capital [1] - The highest and lowest transaction price for the repurchased shares was 11.60 yuan per share, with a total transaction amount of 1.0034 million yuan (excluding transaction fees) [1]

证券代码：603861 证券简称：白云电器 公告编号：2025-101 广州白云电器设备股份有限公司 关于回购公司股份的进展公告 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： | 回购方案首次披露日 | 2025/8/1，由董事长胡德兆先生提议 | | --- | --- | | 回购方案实施期限 | 自公司董事会首次审议通过本次回购方案之日起 | | | 12 个月内 | | 预计回购金额 | 1,000万元~2,000万元 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 累计已回购股数 | 8.65万股 | | 累计已回购股数占总股本比例 | 0.0160% | | 累计已回购金额 | 100.34万元 | | 实际回购价格区间 | 11.60元/股~11.60元/股 | 一、回购股份的基本情况 2025 年 8 月 1 日，公司召开第七届董事会第十九次会议、第七届监事会第十 七次会议，审议通过《关于回购 ...

Core Viewpoint - The company has approved the acquisition of minority shares in its subsidiary to enhance control and operational efficiency, increasing its ownership from 67.7143% to 90% [2][3]. Group 1: Acquisition Details - The company plans to acquire 22.2857% of shares from Nanjing Shiyuan Electric Technology Co., Ltd. in its subsidiary Zhejiang Baiyun Zhebian Electric Equipment Co., Ltd. [2] - The transaction price for the minority stake is set at RMB 28.15 million [3]. - The valuation report indicates that the subsidiary's total assets are valued at RMB 152.49 million, reflecting a 14.91% increase, while net assets are valued at RMB 12.63 million, showing an increase of RMB 18.69 million [3]. Group 2: Share Buyback Announcement - The company has initiated a share buyback program, planning to use between RMB 10 million and RMB 20 million for this purpose [7]. - On November 25, 2025, the company repurchased 86,500 shares at a price of RMB 11.60 per share, totaling RMB 1.0034 million [7][8]. - The buyback aligns with legal regulations and the company's previously disclosed buyback plan [8].

Legal Issues - Danghong Technology is involved in a lawsuit with Guangxi Broadcasting Network Technology Development Co., Ltd., with a counterclaim amounting to RMB 35.9495 million, excluding legal fees and other costs [3] - Zhangjiajie faces a court ruling in a contract dispute with Zhuzhou CRRC Engineering, with the amount in question being RMB 20.144 million plus related penalties [12] Regulatory Actions - Keres received an administrative regulatory decision from the Guangdong Securities Regulatory Bureau for violations related to accounts receivable aging calculations and related party transactions [4] Business Developments - Dongfang Yuhong acquired mining rights for limestone in a bid worth RMB 267 million, valid from November 24, 2025, to November 24, 2045 [5] - Saikexide has received approval for three medical device products, enhancing its product range in the in vitro diagnostics sector [6] - Huayou Cobalt signed a supply agreement with Yiwei Lithium Energy for high-nickel ternary cathode materials, with an estimated supply of 127,800 tons from 2026 to 2035 [7] Stock Performance and Corporate Actions - Mengtian Home experienced a five-day stock price increase, with a total rise of 61.08%, significantly outpacing the Shanghai Composite Index [9] - Jiumuwang's stock showed abnormal fluctuations, with a revenue decline of 6.02% year-on-year for the first three quarters [10] - Huafeng shares are suspended due to a potential change in control, with a stock suspension expected to last no more than three trading days [11] - Baiyun Electric conducted its first share buyback, acquiring 86,500 shares for a total of RMB 1.0034 million [13] - Mercury Home Textiles plans to repurchase and cancel 137,200 restricted shares due to employee departures and performance issues [14] - Petty Co. announced a share buyback plan of RMB 50 million to 70 million, with a maximum price of RMB 26 per share [15] - Century Huatong obtained a loan commitment of up to RMB 900 million from China Merchants Bank for stock repurchase purposes [17] Shareholding Changes - Tongding Interconnection's major shareholder plans to reduce its stake by up to 0.49% [18] - Wanrun Co.'s controlling shareholder plans to increase its stake by no less than RMB 365 million and no more than RMB 730 million [19]