Investment Rating - The report initiates coverage with a "Buy" rating for the company [5]. Core Insights - The company has established itself as a leading provider in the energy IoT sector, with a strong focus on international market expansion, particularly in regions along the Belt and Road Initiative [3][4]. - The company has demonstrated robust financial performance, with significant revenue and net profit growth driven by both domestic and international markets [3][30]. - The company is well-positioned in the market with a comprehensive product portfolio that spans the entire energy IoT value chain, enhancing its competitive advantage [4][47]. Summary by Sections Company Overview - Founded in 2004, the company is one of the earliest entrants in the energy IoT market in China and was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board in 2020 [3][20]. - The company emphasizes international business development and actively participates in energy IoT projects in Belt and Road countries, establishing stable business channels in Asia, Africa, and the Americas [3][4]. Financial Performance - In 2024, the company achieved total revenue of 2.745 billion yuan, a year-on-year increase of 23.35%, and a net profit of 631 million yuan, up 20.07% [3][30]. - For the first half of 2025, the company reported revenue of 1.368 billion yuan, reflecting an 11.88% year-on-year growth, and a net profit of 305 million yuan, up 12.24% [3][30]. - The company forecasts revenues of 3.023 billion yuan, 3.456 billion yuan, and 4.055 billion yuan for 2025, 2026, and 2027, respectively, with corresponding net profits of 712 million yuan, 801 million yuan, and 925 million yuan [5][11]. Market Position and Product Portfolio - The company has a full industry chain layout, covering various levels of energy IoT, from application systems to data transmission management devices and intelligent monitoring terminals [4][47]. - The company has received multiple international certifications, including FCC and CE-RED, which support its international expansion strategy [4][5]. - The company’s products are recognized and certified in multiple international markets, with a focus on ASEAN countries, the Middle East, and stable African economies [4][5]. Growth Drivers - The overseas market is expected to become a significant growth driver, with the company increasing its overseas team and expanding production capacity [3][5]. - The company’s communication gateway products have become its largest revenue contributor, driven by increased investments in digital infrastructure by state-owned power companies [72][74]. - The company’s sensing layer products, particularly electric monitoring terminals, have shown sustainable growth, supported by increased investments in the power grid [51][55]. Profitability and Cost Management - The company’s gross margin has improved from 32.68% in 2018 to 39.74% in 2024, although it experienced a slight decline in 2024 due to revenue growth and structural changes [39][43]. - The company maintains stable cost control, with a decrease in the expense ratio from 14.34% in 2024 to 12.99% in the first half of 2025 [43][44].

Group 1 - The company will hold a performance briefing for the third quarter of 2025 on November 24, 2025, from 15:00 to 16:00 [2][4] - The briefing will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [3][4] - Investors can submit questions from November 17 to November 21, 2025, through the Roadshow Center website or via the company's email [5][4] Group 2 - The briefing aims to provide a comprehensive understanding of the company's third-quarter operational results and financial status [2][3] - Key personnel attending the briefing include the Secretary of the Board and Chief Financial Officer, Ms. Zhong Xiyu, and the Director of Strategic Development, Mr. Wu Hao [4] - After the briefing, investors can access the main content and details of the event through the Roadshow Center [7]

Core Points - The company will hold a Q3 2025 earnings presentation on November 24, 2025, from 15:00 to 16:00 [1][2][3] - Investors can submit questions from November 17 to November 21, 2025, via the Shanghai Stock Exchange Roadshow Center or the company's email [1][2] - The presentation will be conducted in an interactive online format, allowing for real-time communication with investors [1][2][3] Event Details - The earnings presentation will take place at the Shanghai Stock Exchange Roadshow Center [2][3] - The company’s board members and executives, including the Secretary of the Board and the Chief Financial Officer, will be present [2] - Investors can access the presentation through the website: https://roadshow.sseinfo.com/ [2][3] Contact Information - For inquiries, investors can contact the company's securities department via phone or email [4] - The email for investor relations is IR@willfar.com [4]

证券代码：688100 证券简称：威胜信息 公告编号：2025-064 威胜信息技术股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 （一）会议召开时间：2025 年 11 月 24 日（星期一）15:00-16:00 （ 二 ） 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） （三）会议召开方式：上证路演中心网络互动 三、参加人员 董事会秘书兼财务总监：钟喜玉女士 重要内容提示： 投资者可于 2025 年 11 月 17 日（星期一）至 11 月 21 日（星期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 IR@willfar.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 威胜信息技术股份有限公司（以下简称"公司"）已于 2025 年 10 月 23 日发 布公司 2025 年第三季度报告，为便于广大 ...

Group 1 - The power sector is experiencing a strong rebound, particularly in the areas of power IoT and virtual power plants [1] - Companies such as Juhua Technology and Samsung Medical have reached their daily limit increase, indicating strong market performance [1] - Other companies like Haixing Electric, Penghui Energy, Kelun Electronics, Weisheng Information, and Youxun Technology have also shown significant gains [1]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance in the coming months [3][6]. Core Insights - The company reported a revenue of 2.1 billion yuan for Q3 2025, reflecting an 8.8% year-on-year growth, and a net profit attributable to shareholders of 470 million yuan, up 12% year-on-year [1]. - The company is actively expanding its overseas market presence, with overseas revenue reaching 398 million yuan, a 21% increase year-on-year, accounting for 19% of total revenue [1]. - The company has a strong order backlog, with new contracts signed amounting to 2.49 billion yuan and a remaining order balance of 3.824 billion yuan, providing robust support for future performance [1]. Financial Performance - The company has invested heavily in R&D, with over 51% of its workforce dedicated to this area and cumulative R&D spending of nearly 1 billion yuan over the past five years [2]. - The company has completed a share buyback program, spending 150 million yuan to repurchase 4.23 million shares, reflecting confidence in its future growth [2]. - The projected net profits for the company are estimated to be 720 million yuan, 870 million yuan, and 1.05 billion yuan for the years 2025, 2026, and 2027 respectively, with corresponding P/E ratios of 26, 21, and 18 times [3]. Market Position and Strategy - The company is positioned as a key player in the power IoT sector, with significant advantages in smart grid, smart energy, and smart city solutions [3]. - The integration of AI technology into its products enhances the accuracy of electricity demand and renewable energy forecasting, strengthening its competitive edge [2]. - The company plans to maintain a baseline cash dividend of 40% annually over the next five years, demonstrating its commitment to shareholder returns and confidence in future growth [2].

Core Viewpoint - Weisheng Information announced the election of Mr. Fan Lu as the employee representative director of the company's third board of directors during the employee representative assembly scheduled for November 7, 2025 [1] Group 1 - The employee representative assembly will take place on November 7, 2025 [1] - Mr. Fan Lu has been elected as the employee representative director [1]

证券代码：688100 证券简称：威胜信息 公告编号：2025-062 威胜信息技术股份有限公司 根据《中华人民共和国公司法》《公司章程》的相关规定，范律先生的辞职 不会导致公司董事会成员低于法定最低人数，其辞职自辞职报告送达公司之日起 生效。范律先生已按照公司相关规定做好交接工作，其辞职事项不会影响公司董 事会的正常运行，亦不会对公司正常经营发展产生影响。 二、职工代表董事选举情况 关于公司董事辞任暨选举第三届董事会 职工代表董事的公告 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。 一、董事离任情况 威胜信息技术股份有限公司（以下简称"公司"）董事会于 2025 年 11 月 7 日收到公司非独立董事范律先生递交的辞职报告，因工作调整，范律先生申请辞 去公司第三届董事会非独立董事职务。辞职后，范律先生仍担任公司副总裁（副 总经理）、核心技术人员。具体情况如下： | 姓名 | 离任 职务 | 离任时间 | 原定任期 到期日 | 离任 原因 | 是否继 续在上 市公司 | 具体职务 （如适 | 是否存 在未履 行完毕 | | ...

证券代码：688100 证券简称：威胜信息 公告编号：2025-063 威胜信息技术股份有限公司 2025年第二次临时股东大会决议公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 11 月 7 日 （二） 股东大会召开的地点：湖南长沙高新区桐梓坡西路 468 号威胜信息技术 股份有限公司行政楼会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： （一） 非累积投票议案 | 1、出席会议的股东和代理人人数 | 86 | | --- | --- | | 普通股股东人数 | 86 | | 2、出席会议的股东所持有的表决权数量 | 353,545,715 | | 普通股股东所持有表决权数量 | 353,545,715 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 73.1291 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决 ...

北京市金杜律师事务所 关于威胜信息技术股份有限公司 2025 年第二次临时股东大会 之法律意见书 致：威胜信息技术股份有限公司 北京市金杜律师事务所（以下简称本所）接受威胜信息技术股份有限公司（以 下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券法》）、《中华 人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员会《上市公司 股东会规则》（以下简称《股东会规则》）等中华人民共和国境内（以下简称中国境 内，为本法律意见书之目的，不包括中国香港特别行政区、中国澳门特别行政区和 中国台湾省）现行有效的法律、行政法规、规章和规范性文件和现行有效的公司章 程有关规定，指派律师出席了公司于 2025 年 11 月 7 日召开的 2025 年第二次临 时股东大会（以下简称本次股东大会），并就本次股东大会相关事项出具本法律意 见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 经公司 2024 年第二次临时股东大会审议通过的《威胜信息技术股份有限 公司章程》（以下简称《公司章程》）； 2. 公司 2025 年 10 月 23 日刊登于《中国证券报》《证券时报》《上海证券 ...