Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company is expected to achieve a total revenue of 800 million yuan in 2024, representing a year-on-year increase of 5.7%. The net profit attributable to the parent company is projected to be 230 million yuan, up 20.8% year-on-year, while the net profit excluding non-recurring items is expected to reach 190 million yuan, reflecting a 41.7% increase [3][11]. - For the first quarter of 2025, the company anticipates a revenue of 210 million yuan, which is a 12.1% year-on-year growth, with a net profit of 60 million yuan, also up 12.1% year-on-year, and a net profit excluding non-recurring items of 60 million yuan, indicating a 34.6% increase [3][11]. Financial Performance - In 2024, the company's total revenue from testing services is expected to be 738 million yuan, a 5.4% increase year-on-year, while revenue from technical research and consulting is projected to be 35 million yuan, up 14.98% [11]. - The overall gross margin for 2024 is projected to be 52.72%, with the fourth quarter gross margin reaching 55.41%. The gross margin for testing services is expected to be 54.74%, an increase of 4.63 percentage points year-on-year, while the gross margin for technical research and consulting is expected to be 39.39%, up 8.51 percentage points [11]. - The company’s operating cash flow for 2024 is expected to reach 482 million yuan, a 54.3% increase year-on-year, with the fourth quarter cash flow reaching 170 million yuan, up 117.5% year-on-year [11]. Market Position and Strategy - The company completed the acquisition of Henan High Voltage Electrical Research Institute in 2024, enhancing its overall competitiveness and market share. It aims to consolidate its leading position in the high-voltage electrical field domestically while actively expanding into emerging application areas [11]. - The company has successfully completed overseas orders from countries such as Russia, Indonesia, Brazil, and the UAE, showcasing its strong international presence [11].

西安高压电器研究院股份有限公司 2024 年年度股东大会 证券代码：688334 证券简称：西高院 西安高压电器研究院股份有限公司 2024 年年度股东大会 会议资料 2025 年 5 月 西安高压电器研究院股份有限公司 2024 年年度股东大会 西安高压电器研究院股份有限公司 2024 年年度股东大会 西安高压电器研究院股份有限公司 2024 年年度股东大会会议须知 为维护广大投资者的合法权益，保障西安高压电器研究院股份有限 公司（以下简称"公司"）股东在本次股东大会期间依法行使权利，根据 《中华人民共和国公司法》《上市公司股东大会规则》《西安高压电器 研究院股份有限公司章程》和公司《股东大会议事规则》等有关规定， 特制定本会议须知： 目 录 | 2024 | 年年度股东大会会议须知················· | 1 | | --- | --- | --- | | 2024 | 年年度股东大会会议议程················· | 4 | | 2024 | 年年度股东大会会议议案················· | 7 | | 议案一：.关于公司《2024 | 年年度报告》及摘要的议案 · ...

证券代码：688334 证券简称：西高院 公告编号：2025-019 西安高压电器研究院股份有限公司 关于召开 2024 年度暨 2025 年第一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、准确性和完整性依 法承担法律责任。 重要内容提示： （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 4 月 30 日（星期三）至 5 月 9 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"栏目或通过西安高压 电器研究院股份有限公司（以下简称"公司"）邮箱 xgsdb@xihari.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。 会议召开时间：2025 年 5 月 12 日(星期一)上午 10:00-11:00 会议召开地点：上海证券交易所上证路演中心 公司已于 2025 年 4 月 11 日发布公司 2024 年年度报告及 2025 年第 一季度报告，为便于广大投资者更全面深入地了解公司 2024 年年度及 2025 年 ...

淳厚信睿A（基金代码：008186）是淳厚基金旗下的一只混合型基金，成立于2020年2月12日。现任基 金经理由薛莉丽和陈文共同担任，其中薛莉丽自2020年2月12日起任职，总管理规模达23.98亿元。该基 金通过对企业基本面全面、深入的研究，持续挖掘具有长期发展潜力和估值优势的上市公司，实现基金 资产的长期稳定增值。截至2025年4月18日，淳厚信睿A近一年回报达11.59%，跑赢基金比较基准增长 率（10.11%）和中证混合型基金指数回报（4.84%），超过同期混合型基金收益均值。拉长时间看，截 至2025年4月18日，基金在长期收益方面表现优秀，近五年收益排名同类混合型基金前5%。详细来看， 近五年基金收益率为103.72%，优于业绩基准（4.00%）和中证混合型基金指数回报（7.85%）。从风控 能力来看，截至2025年4月18日，近三年基金最大回撤为29.80%，最大回撤优于同类混合型基金平均水 平；基金最大回撤修复天数为246天，排名同类混合型基金前15%。从基金规模来看，截至2024年12月 31日，该基金的规模已达到9.46亿元。基金份额方面，最新公告显示截至2024年12月31日基金份额为 ...

公司愿与社会各界朋友携手合作，共谋发展、共创辉煌！ 以上内容为证券之星据公开信息整理，由智能算法生成（网信算备310104345710301240019号），不构成投资建议。 根据市场公开信息及4月15日披露的机构调研信息，知名私募昊泽致远近期对1家上市公司进行了调研， 相关名单如下： 1）西高院 （昊泽致远(北京)投资管理有限公司参与公司特定对象调研） 调研纪要：西高院介绍了2024年年度及2025年一季度经营情况。公司持续加大研发投入，2024年投入 8479.79万元，2025年一季度投入2090.05万元，以应对新型电力系统改革需求。未来将聚焦输变电设备 检测、计量、认证及关键技术研究，通过外延式并购提升竞争力。海外业务方面，积极响应'一带一 路'战略，拓展中东地区业务，提升国际影响力。新能源检测业务方面，成立新能源实验中心，检测能 力国内领先，市场前景广阔但需解决并网等问题。 机构简介： 昊泽致远（北京）投资管理有限公司成立于2015年12月，并于2018年3月在中国证券投资基金业协会备 案为证券类私募基金管理人（备案编码：P1067442），于2020年获得中国证券投资基金业协会会员资 格（会员编 ...

Company and Industry Summary Company Overview - The company, established in 1958, is a key project under China's E5 plan and serves as a high-pressure power transmission equipment testing and research base [1][2] - The company has participated in all major domestic projects and is involved in 39 ultra-high voltage direct current transmission lines [2] Financial Performance - For 2024, the company expects to achieve a revenue of 798 million yuan, with net profit exceeding 200 million yuan, representing a year-on-year growth of 20.78% [2] - The gross profit margin increased by 4.92 percentage points, and the balance of advance payments for testing services rose to 282 million yuan [2] - In Q1 2024, the company reported revenue of approximately 200 million yuan, a 12.1% increase year-on-year, with net profit also growing by 12.1% [3] R&D Investment - The company has maintained a strong growth trend in R&D investment, which has outpaced revenue growth [4][5] - Currently, the company is involved in eight national-level R&D projects and around 30 provincial-level projects, focusing on new product development and technological advancements [7] Market Position and Strategy - The company holds a market share of over 35% in the ultra-high voltage testing market and has become the first CNAS-accredited greenhouse gas verification institution in the construction industry [3] - The company plans to continue its growth through both organic development and strategic acquisitions, aligning with national energy and power development goals [8][9] International Expansion - The company is exploring international markets, particularly in regions like Indonesia, Egypt, Brazil, and the UAE, with a focus on the Belt and Road Initiative [11][12] - The company has not faced significant trade friction despite global uncertainties and is actively participating in international exhibitions to promote its services [11][12] New Energy Sector - The company is expanding into the new energy sector, focusing on testing for large-capacity photovoltaic systems and energy storage solutions [21][22] - The new energy market is currently facing challenges such as overcapacity and price wars, but the company sees opportunities in ensuring the safety and compatibility of new energy systems with existing power grids [22][23] Competitive Advantages - The company has established a strong reputation in the industry, with unique capabilities in testing and certification that differentiate it from competitors [25][26] - It has a significant role in setting industry standards and has a strong international presence, which enhances its competitive edge [26] Future Outlook - The company is optimistic about its growth prospects, particularly in overseas markets and the new energy sector, and aims to exceed industry growth rates [32] - The focus on integrating R&D with market needs and expanding service offerings in emerging sectors is expected to drive future performance [32]

Group 1 - The first quarterly report for 2025 from the Sci-Tech Innovation Board was released by Xigao Institute, marking it as the first company to disclose such results [2] - Xigao Institute reported a revenue of 207 million yuan for Q1 2025, representing a year-on-year growth of 12.1%, and a net profit of 62.97 million yuan, also up by 12.1% [2] - The overall performance of Sci-Tech Innovation Board companies in Q1 2025 shows positive signals, with 14 companies reporting earnings forecasts, including 9 with expected profit increases and 5 turning losses into profits [2] Group 2 - Linweina, the first chip testing probe company in the A-share market, achieved a revenue increase of 112% in Q1 and turned a profit due to higher sales of high-margin products and expanded sales scale [3] - Tailin Micro, a leader in low-power Bluetooth chips, reported a revenue of 230 million yuan in Q1, with a year-on-year increase of 43% and a net profit increase of approximately 894% [3] - Guanda Special Materials achieved a revenue of 1.12 billion yuan in Q1, with a net profit increase of 1504.79%, driven by strong demand in downstream industries and the effectiveness of its fundraising projects [3][4] Group 3 - Companies like United Imaging and Guoxin Technology are maintaining strong R&D momentum and practical business strategies, with United Imaging reporting over 140 product approvals globally [5] - Guoxin Technology disclosed significant progress in RISC-V architecture development, showcasing its R&D capabilities with successful internal testing of a new high-performance cloud security chip [5] - Zhongchuan Special Gas reported a 142.42% year-on-year increase in new orders for its trifluoromethanesulfonic acid series products in Q1 2025 [5] Group 4 - A total of 33 share repurchase plans have been disclosed on the Sci-Tech Innovation Board in 2025, with a maximum repurchase amount of 3.215 billion yuan [6] - Companies like Daotong Technology and Zhongwulian have announced share repurchase plans, reflecting confidence in their development [6] - Key figures in the integrated circuit and new energy sectors are actively increasing their shareholdings, indicating a commitment to the future value of their companies [6]

Group 1: AI Industry Developments - The European Union is investing in the construction of 13 AI super factories, with a total investment goal of €200 billion, including a dedicated fund of €20 billion for these projects [1] - Each AI super factory will be equipped with over 100,000 high-end AI processors, with the best-performing factories hosting up to 25,000 processors [1] Group 2: Film Industry Response - The National Film Administration of China plans to moderately reduce the import of American films in response to the U.S. government's imposition of tariffs on Chinese goods, which may decrease the audience's favorability towards American films [1] Group 3: Telecommunications and 5G - Beijing aims to achieve comprehensive 5G large-scale applications by the end of 2027, establishing itself as a leading city in 5G applications, enhancing industrial support, network service capabilities, and ecological collaboration [2] Group 4: Corporate Financial Performance - TSMC reported March revenue of NT$285.96 billion, a year-on-year increase of 46.5%, and Q1 revenue of NT$839.25 billion, up 41.6% year-on-year [3] - Meixin Sheng expects Q1 2025 net profit to be between RMB 2 million and 5 million, marking a significant turnaround from losses, driven by a 30% to 35% increase in revenue [5] - Huaxi Biological's 2024 revenue reached RMB 5.371 billion, with skin-related medical revenue exceeding RMB 1 billion, reflecting a 43.57% year-on-year growth [6] Group 5: Corporate Actions and Shareholder Commitments - Kingsoft WPS Corporation Limited, the controlling shareholder of Kingsoft Office, has committed not to reduce its shareholding from April 10, 2025, to December 31, 2025 [4] - Jincheng Co. plans to repurchase shares worth between RMB 50 million and 100 million for employee stock ownership or equity incentives [6] - Guangge Technology intends to repurchase shares with a total amount between RMB 10 million and 20 million for employee stock ownership plans [6] Group 6: Investment and Financing Activities - Stardust Intelligence has completed several rounds of financing, raising several hundred million yuan, with participation from prominent investors [7] - Shenzhen Ruisi Zhixin Technology has received equity financing from multiple investors, indicating strong market interest [8] - Anhui Zhongsheng Traceability Biotechnology has completed B+ round financing of RMB 85 million, continuing its trend of successful fundraising [9]

中国国际金融股份有限公司 关于西安高压电器研究院股份有限公司 向关联方申请保理业务暨关联交易的核查意见 中国国际金融股份有限公司（以下简称"保荐机构"）作为西安高压电器研 究院股份有限公司（以下简称"西高院"或"公司"）首次公开发行股票并上市 的保荐机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板 股票上市规则》《上海证券交易所上市公司自律监管指引第 5 号——交易与关联 交易》《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等相关法 律、法规和规范性文件的要求，对西高院向关联方申请保理业务暨关联交易事项 进行了审慎核查，核查情况如下： 一、关联交易基本情况 （一）关联交易履行的审议程序 1 保理业务暨关联交易的议案》，此议案获得全体独立董事一致表决通过，一致同 意将该议案提交第一届董事会第三十次会议审议。公司独立董事认为：公司本次 向关联方申请开展保理业务暨关联交易事项，遵循了平等、自愿、合理的原则， 决策权限、决策程序合法，不存在损害公司及全体股东特别是中小股东利益的情 况，该关联交易事项不会对公司独立性产生影响，符合公司日常经营管理需要。 公司独立董事发表了明确同意的独立意 ...

中国国际金融股份有限公司 关于西安高压电器研究院股份有限公司使用部分募集资金 向控股子公司提供借款以实施募投项目的核查意见 中国国际金融股份有限公司（以下简称"中金公司"或"保荐机构"）作为西安高 压电器研究院股份有限公司（以下简称"西高院"或"公司"）首次公开发行股票并在 科创板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所科 创板股票上市规则》《科创板上市公司持续监管办法（试行）》及《上市公司监管指引 第 2 号——上市公司募集资金管理和使用的监管要求》等有关规定，对西高院使用部分 募集资金向控股子公司提供借款以实施募投项目事项进行了核查，具体情况如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意西安高压电器研究院股份有限公司首次公开 发行股票注册的批复》（证监许可〔2023〕726 号）同意注册，并经上海证券交易所同 意，公司首次公开发行人民币普通股（A 股）股票 7,914.4867 万股，每股发行价格为人 民币 14.16 元，募集资金总额为人民币 112,069.13 万元，扣除发行费用（不含增值税） 人民币 6,090.83 万元，实际募集资金净额为人民币 1 ...