Investment Rating - The report maintains a "Recommended" investment rating for the wind power industry, indicating an expectation of growth exceeding the benchmark index by more than 5% in the next 3-6 months [2][55]. Core Insights - The report highlights a significant increase in wind turbine bidding, with a total of 33.6 GW bid from January to April 2025, representing a year-on-year growth of 23.2% [11][20]. - The average bidding price for land-based wind power is 1554 RMB/kW, while for offshore wind power, it is 2589 RMB/kW, showing a month-on-month increase of 5.8% for land-based projects [36][40]. - The report identifies three main investment themes in the wind power sector: high domestic offshore wind project reserves, robust land-based wind bidding, and increasing overseas installation growth [40]. Summary by Sections Bidding Volume - From January to April 2025, wind turbine bidding reached 33.6 GW, with offshore and onshore projects accounting for 3.1 GW and 30.5 GW respectively, marking increases of 19.4% and 23.6% year-on-year [11][31]. - In April alone, 12.2 GW was bid, with offshore projects at 0.5 GW and onshore projects at 11.7 GW, reflecting a month-on-month increase of 60.3% for onshore projects [11][20]. Winning Volume - The total winning volume for wind power from January to April 2025 was 32.1 GW, a year-on-year increase of 46%, with offshore and onshore projects contributing 3.8 GW and 28.3 GW respectively [20][21]. - In April, the winning volume was 13.7 GW, with offshore projects at 3.1 GW, showing a significant month-on-month increase of 577.8% [20][21]. Average Winning Price - The average winning price for land-based wind power in April was 1554 RMB/kW, while for offshore wind power, it was 2589 RMB/kW, indicating a competitive pricing environment [36][40]. Investment Recommendations - The report suggests focusing on key companies such as Mingyang Smart Energy, Oriental Cable, and Zhongtian Technology, which are well-positioned to benefit from the anticipated growth in the wind power sector [40].

Investment Rating - The investment rating for the electric power equipment industry is "Outperform the Market" [2][6]. Core Viewpoints - The recent US-China trade talks have resulted in significant tariff reductions, which are expected to positively impact the electric new energy sector's exports to the US. Key affected areas include the power battery supply chain, photovoltaic inverters, energy storage batteries, AIDC equipment, grid equipment, consumer lithium batteries, and wind power components. These sectors are anticipated to experience a recovery and acceleration in shipments to the US starting from May [4][5][6]. - The agreement reached during the talks includes the US committing to cancel 91% of tariffs imposed on Chinese goods and modifying 34% of reciprocal tariffs, with a 90-day suspension on 24% of these tariffs. Similarly, China will cancel 91% of its retaliatory tariffs on US goods and suspend 24% of the reciprocal tariffs for 90 days [3][6]. Summary by Relevant Sections - **Tariff Changes**: The US will cancel 91% of tariffs on Chinese goods and modify 34% of reciprocal tariffs, while China will cancel 91% of retaliatory tariffs and suspend 24% of reciprocal tariffs for 90 days [3][6]. - **Market Impact**: The agreement is expected to benefit companies in the electric new energy sector, particularly those involved in the power battery and energy storage battery supply chains, such as Ningde Times, Keda Li, and Xinjubang. Other companies to watch include Sunshine Power, Shenghong Co., and Megmeet [4][7]. - **Market Demand**: The US accounts for 10-15% of global power battery market demand, 30-40% of large energy storage market demand, and 10% of the global photovoltaic market demand. The successful conclusion of the trade talks is expected to enhance the short-term and long-term development prospects for various sectors [7].

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the past 30 days include Huaming Equipment, Changshu Bank, Guangdian Yuntong, Yunnan Baiyao, and BYD. In the last five days, the most visited companies were Mankalon, Zhou Dasheng, Stable Medical, Zhujiang Beer, and Shenghe Resources. Among the top twenty companies in the past 30 days, 11 companies had 10 or more rating agencies, including BYD, Huali Group, Weixing New Materials, Changshu Bank, and Weixing Co., Ltd. [2][11][12] - Companies such as BYD, Huali Group, Changshu Bank, Weixing Co., Ltd., Weichai Power, Yunnan Baiyao, Tuobang Co., Ltd., Huaming Equipment, and Zhongji United are expected to see significant growth in net profit attributable to shareholders in 2024 compared to 2023 [2][11][12]. Group 2: Shareholder Increase Activities - From May 5 to May 9, 2025, a total of 13 companies announced significant shareholder increases, with three companies having 10 or more rating agencies. The companies with an average proposed increase amount exceeding 1% of the latest market value include *ST Gengxing, Hainan Development, China Railway Industry, Huamao Technology, and Linglong Tire [3][14][15]. - From January 1 to May 11, 2025, 297 companies announced significant shareholder increases, with 203 having 10 or more rating agencies. Among these, 15 companies had an average proposed increase amount exceeding 1% of the latest market value, including Xinjie Energy, Sailun Tire, Rongsheng Petrochemical, Wanrun Co., Ltd., CNOOC Engineering, and Xin Fengming [5][16][17]. Group 3: Company Buyback Activities - From May 5 to May 9, 2025, a total of 312 companies announced buyback progress, with 84 companies having 10 or more rating agencies. Companies expected to have a buyback amount exceeding 1% of the market value on the announcement date include Pingmei Co., Ltd., Huafa Co., Ltd., Changhong Meiling, XGIMI Technology, and Xugong Machinery [4][19][20]. - From January 1 to May 11, 2025, 1,456 companies announced buyback progress, with 297 having 10 or more rating agencies. Among these, 82 companies had a buyback amount exceeding 1% of the market value on the announcement date, including Changhong Meiling, Qianwei Central Kitchen, Baolong Technology, Shantui Co., Ltd., Wanrun Co., Ltd., Midea Group, BOE A, and Goldwind Technology [6][22][23].

Meeting Details - The shareholders' meeting of Zhongji United (Beijing) Technology Co., Ltd. was held on May 9, 2025, at the meeting room located at No. 11 Tongji South Road, Beijing Economic and Technological Development Zone [1] - The meeting was convened by the board of directors and conducted through a combination of on-site and online voting, complying with the Company Law and the company's articles of association [1] Voting Results - All proposed resolutions were approved with significant support from shareholders. For instance, the voting results for one of the resolutions showed that 81,498,165 A-shares (98.63%) voted in favor, while only 107,273 (0.13%) opposed [1] - Another resolution received 81,516,465 votes in favor (98.66%), with 127,773 votes against (0.15%) [1] - The voting results consistently showed a high approval rate, with percentages generally above 98% for various resolutions [2][3] Legal Compliance - The meeting's procedures were confirmed to be in accordance with legal, administrative regulations, and the company's articles of association, ensuring the legitimacy of the convening and voting processes [3]

Core Viewpoint - The legal opinion letter confirms the legitimacy of the procedures and results of the 2024 annual general meeting of Zhongji United (Beijing) Technology Co., Ltd, ensuring compliance with relevant laws and regulations [2][5][6] Meeting Procedures - The meeting was convened by the company's board of directors based on a resolution from the 12th meeting of the 4th board, with a public notice issued on April 19, 2025 [3][4] - The meeting was held on May 9, 2025, at 14:30, combining on-site and online voting methods, with the online voting available from 9:15 to 15:00 on the same day [3][4] Attendance and Voting - A total of 193 shareholders (or their representatives) attended the meeting, representing 82,627,444 shares, which is 38.8798% of the total voting shares [4] - The qualifications of attendees were verified and found to be compliant with legal and regulatory requirements [4][5] Voting Results - All proposed resolutions were reviewed and voted on, with the following results: - The board's work report for 2024 was approved with 81,498,165 votes in favor [5] - The supervisory board's work report for 2024 was approved with 81,516,465 votes in favor [5] - The annual report and summary for 2024 were approved with 81,517,645 votes in favor [5] - The profit distribution plan for 2024 was approved with 81,538,845 votes in favor [5] - The remuneration plan for directors and senior management for 2025 was approved with 81,476,085 votes in favor [5] - The remuneration plan for supervisors for 2025 was approved with 81,460,325 votes in favor [5] - The use of idle raised funds for cash management was approved with 81,500,145 votes in favor [5] - The use of idle self-owned funds for cash management was approved with 81,435,745 votes in favor [5] - The proposal for foreign exchange derivative trading was approved with 81,495,725 votes in favor [5] - The reappointment of the accounting firm for 2025 was approved with 81,531,931 votes in favor [5] - The authorization for the board to issue shares to specific targets was approved with 81,072,267 votes in favor [5] - The proposal for a subsidiary to apply for comprehensive credit from a bank was approved with 81,490,071 votes in favor [5] Conclusion - The legal opinion concludes that the meeting's procedures, attendee qualifications, and voting results are all valid and comply with applicable laws and regulations [6]

证券代码：605305 证券简称：中际联合 公告编号：2025-038 中际联合（北京）科技股份有限公司 2024年年度股东大会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一) 股东大会召开的时间：2025 年 5 月 9 日 (二) 股东大会召开的地点：北京经济技术开发区同济南路 11 号会议室 (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 | 193 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 82,627,444 | | 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 | 38.8798 | | 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，大会主持情况等。 本次会议由公司董事会召集，会议采取现场投票和网络投票相结合的方式，会 议的召集、召开及表决方式符合《公司法》等相关法律、法规、规章和 ...

本所律师根据《中华人民共和国公司法》（以下简称"《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 "《股东会规则》"）、《律师事务所从事证券法律业务管理办法》（以下简称"《证 券法律业务管理办法》"）、《律师事务所证券法律业务执业规则（试行）》（以下简 称"《证券法律业务执业规则》"）等相关法律、行政法规、规章、规范性文件及《中 际联合（北京）科技股份有限公司章程》（以下简称"《公司章程》"）的规定，就本 次会议的召集与召开程序、召集人资格、出席会议人员资格、会议表决程序及表决结果 等事宜，出具本法律意见书。 北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 关于中际联合（北京）科技股份有限公司 2024 年年度股东大会的法律意见书 国枫律股字[2025]A0155 号 致：中际联合（北京）科技股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见 证贵公司 2024 年年度股东大会（ ...

Group 1 - Yitong Century won a bid for a communication engineering construction service project from China Mobile, with a total bid amount of 228 million yuan (including tax) [1] - Zhiyuan New Energy plans to repurchase shares worth between 33 million and 66 million yuan, with a maximum repurchase price of 22.00 yuan per share [1] - GAC Group reported April automobile sales of 116,400 units, a year-on-year decrease of 12.66% [2] - JAC Motors reported April automobile sales of 30,764 units, a year-on-year decrease of 3.55% [3] Group 2 - Fosun Pharma's subsidiary received FDA approval for a clinical trial of a live biotherapeutic product aimed at treating androgenetic alopecia [4] - Liangxin Co. obtained multiple patent certificates, including 2 invention patents and 32 utility model patents [5] - Sainuo Medical's two products received medical device registration certificates in Mexico and Ecuador [5] - Huayu Pharmaceutical's two products received marketing approvals in France and Spain [6] Group 3 - Shengnong Development reported April sales revenue of 1.533 billion yuan, a year-on-year increase of 0.68% [6] - Hasi Lian's potassium chloride and sodium chloride injection passed the consistency evaluation [7] - Shapuaisi received approval for a supplemental application for levofloxacin eye drops [9] - Tianyu Biological reported April sales revenue of 59.32 million yuan from pig sales [10] Group 4 - *ST Weihai was pre-awarded a project worth 108 million yuan [12] - Luoniushan reported April sales revenue of 125 million yuan from pig sales, a year-on-year increase of 12.72% [13] - Minhe Co. reported April sales revenue of 68.30 million yuan from chick sales, a year-on-year increase of 0.51% [14] Group 5 - Double Ring Technology's application for a specific stock issuance was approved by the Shenzhen Stock Exchange [15] - Hualu Hengsheng plans to repurchase shares worth between 200 million and 300 million yuan [16] - Baolong Technology plans to repurchase shares worth between 100 million and 200 million yuan [17] Group 6 - Huasheng Technology's subsidiary plans to sell shares of a company for 200 million yuan [24] - *ST Gengxing's controlling shareholder plans to increase holdings worth between 30 million and 60 million yuan [25] - Ruihuatai's shareholder plans to reduce holdings by up to 1% of the company's shares [26] Group 7 - Foton Motor reported April commercial vehicle sales of 54,816 units, a year-on-year increase of 21.63% [20] - China Merchants Bank plans to invest 15 billion yuan to establish a financial asset investment company [22] - Jinchengxin plans to invest approximately 231 million USD in the Alacran copper-gold-silver mine project [23] Group 8 - Zhongji United's controlling shareholder plans to reduce holdings by up to 2% of the company's shares [30] - Ningbo Huaxiang signed a strategic cooperation agreement to strengthen collaboration in various areas [31] - SMIC reported a net profit of 1.356 billion yuan for Q1 2025, a year-on-year increase of 166.5% [32] Group 9 - FAW Fuwi received a project notification to develop seat products for a luxury brand, with a total sales amount expected to be 1.39 billion yuan [33] - Huakang Clean won a bid for a purification project worth 64.425 million yuan [34] - Lihua Co. reported April sales revenue of 1.125 billion yuan from chicken sales [35]

证券代码：605305 证券简称：中际联合 公告编号：2025-037 中际联合（北京）科技股份有限公司 控股股东、实际控制人减持股份计划公告 重要内容提示： 控股股东、实际控制人的基本情况: 截至本公告披露日，中际联合（北京）科技股份有限公司（以下简称"公司"） 控股股东、实际控制人、董事长、总经理（总裁）刘志欣先生直接持有公司无限 售条件流通股数量为 51,656,387 股，占公司总股本的 24.31%；通过世创（北京） 科技发展有限公司间接持有公司无限售条件流通股数量为 12,099,614 股，占公 司总股本的 5.69%，直接和间接合计持有公司 30.00%的股份。上述股份来源为公 司首次公开发行股票并上市前取得的股份及上市后资本公积金转增股本取得的 股份，上述股份均已于 2024 年 5 月 6 日解除限售并上市流通。 减持计划的主要内容 公司于近日收到公司控股股东、实际控制人、董事长、总经理（总裁）刘志 欣先生《关于股份减持计划的告知函》。因自身资金需要，刘志欣先生拟通过大 宗交易方式减持持有的公司无限售条件流通股，在任意连续 90 日内，减持股份 的总数不超过公司股份总数的 2%，减持期间为 ...

Core Viewpoint - The controlling shareholder and actual controller of Zhongji United (605305), Liu Zhixin, plans to reduce his holdings by no more than 4.2504 million shares through block trading, which represents 2% of the company's total share capital [1] Summary by Relevant Categories - **Shareholder Actions** - Liu Zhixin intends to decrease his stake in the company by up to 4.2504 million shares [1] - This reduction accounts for 2% of Zhongji United's total share capital [1]