证券代码：688334 证券简称：西高院 公告编号：2025-020 西安高压电器研究院股份有限公司 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公告内容不存在任何虚假记载、误导性陈述或 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 5 月 8 日 （二） 股东大会召开的地点：西安天翼新商务酒店 （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： | 1、出席会议的股东和代理人人数 | 99 | | --- | --- | | 普通股股东人数 | 99 | | 2、出席会议的股东所持有的表决权数量 | 221,309,456 | | 普通股股东所持有表决权数量 | 221,309,456 | | 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例（%） | 69.9064 | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 69.9064 | （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。 本次股东大会由公司董事会召集，公司全体董事共同推举董事、总经理张文 ...

北京市嘉源律师事务所 关于西安高压电器研究院股份有限公司 2024 年年度股东大会的法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 SR ENTERS Pr A YUAN LAW OFFICES 北京 BEI JING · 上海 SHANGHAI · 深圳 SHENZHEN · 香港 HONG KONG · 广州 GUANGZHOU · 西安 XI'AN 致:西安高压电器研究院股份有限公司 北京市嘉源律师事务所 嘉源·法律意见书 律意见书出具日以前已经发生或者存在的事实,严格履行了法定职责,遵循了勤 勉尽责和诚实信用原则,进行了充分的核查验证,保证本法律意见书所认定的事 实真实、准确、完整,所发表的结论性意见合法、准确,不存在虚假记载、误导 性陈述或者重大遗漏,并承担相应法律责任。 关于西安高压电器研究院股份有限公司 2024年年度股东大会的法律意见书 嘉源(2025)-04-262 北京市嘉源律师事务所(以下简称"本所")接受西安高压电器研究院股份 有限公司(以下简称"公司")的委托,根据《中华人民共和国公司法》(以下 简称《公司法》)、《上市公司股东会规则》(以下简称《股东会规则》 ...

证券代码：688334 证券简称：西高院 公告编号：2025-022 鉴于公司需及时选举监事会主席，议上已对本次紧急会议作出说明， 监事会同意豁免临时监事会提前 5 日通知的义务。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 （二）审议通过《关于选举公司监事会主席的议案》 西安高压电器研究院股份有限公司 第二届监事会第一次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 西安高压电器研究院股份有限公司（以下简称"公司"）第二届监事 会第一次会议通知于 2025 年 5 月 8 日以电话、电子邮件方式发出，会议 于 2025 年 5 月 8 日在西安市莲湖区西二环北段 18 号公司综合楼 511 会 议室以现场结合网络视频会议方式召开。会议应出席监事 3 名，实际出 席参与表决监事 3 名，本次会议由半数以上监事共同推举监事惠云霞女 士主持。会议的召开符合《中华人民共和国公司法》等法律、法规、规 范性文件及《公司章程》的规定，会议形成的决议合法、有效。 二、监事会会议审议情况 ...

Core Insights - The company reported a total revenue of 800 million yuan for 2024, representing a year-on-year increase of 5.7% [1] - The net profit attributable to shareholders for 2024 was 230 million yuan, up 20.8% year-on-year, while the net profit excluding non-recurring items was 190 million yuan, reflecting a 41.7% increase [1] Revenue Breakdown - In 2024, the revenue from testing services was 738 million yuan, a year-on-year increase of 5.4%, while revenue from technical research and consulting was 35 million yuan, up 14.98% [2] - Domestic revenue for 2024 was 765 million yuan, increasing by 5.09% year-on-year, whereas overseas revenue, including Hong Kong, Macau, and Taiwan, was 9 million yuan, showing a significant increase of 153.8% [2] Profitability Metrics - The overall gross margin for 2024 was 52.72%, with a quarterly gross margin of 55.41% in Q4 2024 [3] - The gross margin for testing services was 54.74%, up 4.63 percentage points year-on-year, while the gross margin for technical research and consulting was 39.39%, an increase of 8.51 percentage points [3] - The gross margin for domestic operations was 53.85%, up 4.55 percentage points, and for overseas operations, it was 71.45%, reflecting a substantial increase of 19.75 percentage points [3] Cost and Expenses - The total expense ratio for 2024 was 23.90%, an increase of 1.60 percentage points year-on-year, with the sales expense ratio at 2.37%, management expense ratio at 11.79%, R&D expense ratio at 10.62%, and financial expense ratio at -0.88% [3] - In Q1 2025, the total expense ratio was 21.74%, up 1.31 percentage points year-on-year [3] Cash Flow and Financial Health - The contract liabilities at the end of Q1 2025 reached 315 million yuan, a year-on-year increase of 58.1% and a quarter-on-quarter increase of 11.7% [4] - The asset-liability ratio at the end of Q1 2025 was 18.17%, up 5.53 percentage points year-on-year [4] - The operating net cash flow for 2024 was 482 million yuan, a year-on-year increase of 54.3%, with Q4 2024 showing a significant increase of 117.5% [4] - In Q1 2025, the operating net cash flow was 132 million yuan, reflecting a year-on-year increase of 14.3% [5] Strategic Developments - The company completed the acquisition of Henan High Voltage Electrical Research Institute in 2024, enhancing its competitiveness and market share [5] - The company aims to consolidate its leading position in the domestic high-voltage electrical sector while actively expanding into emerging application areas and strengthening international collaborations [5] - The projected net profit attributable to shareholders for 2025 is expected to reach 283 million yuan, corresponding to a PE ratio of approximately 18 times [5]

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 ...

Group 1: Fund Overview - Chunhou Xinrui A (Fund Code: 008186) is a mixed fund under Chunhou Fund, established on February 12, 2020, with a total management scale of 2.398 billion [1] - The fund is managed by Xue Lili and Chen Wen, focusing on in-depth research of corporate fundamentals to identify companies with long-term growth potential and valuation advantages [1] - As of April 18, 2025, the fund achieved a one-year return of 11.59%, outperforming the benchmark growth rate of 10.11% and the CSI Mixed Fund Index return of 4.84% [1] Group 2: Long-term Performance - Over the past five years, the fund's return reached 103.72%, significantly exceeding the performance benchmark of 4.00% and the CSI Mixed Fund Index return of 7.85% [1] - The fund ranks in the top 5 among similar mixed funds in terms of long-term returns as of April 18, 2025 [1] Group 3: Risk Management - The maximum drawdown of the fund over the past three years was 29.80%, which is better than the average level of similar mixed funds [1] - The maximum drawdown recovery period was 246 days, ranking in the top 15 among similar mixed funds [1] Group 4: Fund Size and Shareholder Structure - As of December 31, 2024, the fund's size reached 946 million [1] - The latest announcement shows that the fund's share count was 468 million as of December 31, 2024 [1] - According to the 2024 annual report, the institutional shareholder ratio of the fund reached 39.60% [1] Group 5: Company Research - On April 14, 2025, Chunhou Fund conducted research on the listed company Xigao Institute [2] - The research included an overview of the company's 2024 annual and 2025 Q1 operational status, core technologies, market expansion, business development, and market capitalization management [3] Group 6: R&D Investment and Achievements - Xigao Institute increased its R&D investment to 84.7979 million in 2024 and 20.9005 million in Q1 2025, focusing on low-energy and low-emission technology [3] - The company achieved three national-level technological achievements in 2024, with two reaching international leading levels and one at an international advanced level [3] Group 7: Future Development and Acquisitions - Xigao Institute aims to enhance its core competitiveness through external acquisitions, focusing on companies with strong professional capabilities and technological advantages [3] - The company plans to build a comprehensive service platform covering the entire power transmission and transformation equipment industry chain [3] Group 8: International Business Expansion - In 2024, Xigao Institute made significant breakthroughs in overseas business, participating in international power exhibitions and establishing recognition in the Middle East [3] - The company became the only recognized laboratory by Saudi Electricity Company and received direct recognition from Dubai Electricity and Water Authority for high-voltage GIS test reports [3] Group 9: New Energy Testing Business - Xigao Institute established a new energy testing center and achieved domestic leadership in testing capabilities for new energy [3] - The company aims to support the healthy development of the new energy industry and address challenges in grid operation optimization and safety [3]

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 ...