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 ...

录 目 审 计 报 告 l 2024 年度财务报表- -5 2024 年度财务报表附注- -17 您可使用手机"扫一扣"或遗入"注册会计师行业统一流管平台（http://ac.mot.gov.cn）"进行查询 您可使用手机"扫一扣"或遗入"注册会计师行业统一流管平台（http:///ac.mot.gov.cn）"进行查询。 西 安 高 压 电 器 研 究 院 股 份 有 限 公 司 审计报告 天 职 业 字 [2025]6471 号 审计报告 天职业字[2025]6471 号 西安高压电器研究院股份有限公司全体股东: 一、审计意见 我们审计了西安高压电器研究院股份有限公司(以下简称"西高院")财务报表,包括 2024 年 12 月 31 目的合并及母公司资产负债表,2024年度的合并及母公司利润表、合并及母公司 现金流量表、合并及母公司股东权益变动表,以及财务报表附注。 我们认为,后附的财务报表在所有重大方面按照企业会计准则的规定编制,公允反映了西 高院 2024 年 12 月 31 日的合并及母公司财务状况以及 2024 年度的合并及母公司经营成果和 现金流量。 二、形成审计意见的基础 我们按照中国注册会计 ...

西 安 高 压 电 器 研 究 院 股 份 有 限 公 司 2024 年 度 内 部 控 制 审 计 报 告 天 职 业 字 [2025]6471-1 号 it 型钢管有 L = | | | | | 您可使用手机"扫一扫"或近入"注册会计师行业统一流管平台（http://acc.mot.gov.cn）"进行查验。 您可使用手机"扫一扫"或近入"注册会计师行业统一监管平台（http://acc.mot.jgov.co）"进行查验。 内部控制审计报告 天职业字[2025]6471-1 号 西安高压电器研究院股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我们审计了西 安高压电器研究院股份有限公司(以下简称"西高院")2024年12月31日的财务报告内部控 制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指引》 的规定，建立健全和有效实施内部控制，并评价其有效性是西高院董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上,对财务报告内部控制的有效性发表审计意见, 并对注意到的非财务报告内部控 ...

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 2024 年度涉及 财务公司关联交易的存款、贷款等金融业务的核查意见 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 2024 年度涉及西电集团财务有限责任 公司（以下简称"财务公司"）关联交易的存款、贷款等金融业务进行了核查， 核查情况如下： 一、交易基本情况 （一）交易背景情况 根据公司经营发展需要，公司与西电集团财务有限责任公司于 2024 年 5 月 签订了《金融业务服务协议》，约定由西电集团财务有限责任公司为公司提供非 独家方式的金融服务，协议期限三年，自公司 2023 年年度股东大会批准之日起 生效。 （二）财务公司情况 西电集团财务有限责任公司是经中国人民银行批准设立，由中国电气装备集 ...

证券代码：688334 证券简称：西高院 公告编号：2025-014 西安高压电器研究院股份有限公司 关于制定《市值管理制度》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。 西安高压电器研究院股份有限公司（以下简称"公司"）于 2025 年 4 月 10 日召开了第一届董事会第三十次会议，审议通过了《关于制定公 司<市值管理制度>的议案》。现将有关情况公告如下： 为了加强公司市值管理工作，进一步规范公司市值管理行为，维护 公司、投资者及其他利益相关者的合法权益，积极响应《国务院关于加 强监管防范风险推动资本市场高质量发展的若干意见》中鼓励上市公司 建立市值管理制度的号召，根据《中华人民共和国公司法》《中华人民共 和国证券法》《上市公司信息披露管理办法》《上市公司监管指引第 10 号 ——市值管理》《上海证券交易所科创板股票上市规则》《上海证券交易 所科创板上市公司自律监管指引第 1 号——规范运作》等法律法规、规 范性文件和《公司章程》等，结合公司实际情况，公司制定《市值管理 制度》。 特此公告。 西安高压电器研 ...

西安高压电器研究院股份有限公司 2024年度独立董事术职报告 本人沈江,现担任西安高压电器研究院股份有限公司(以 下简称"公司")独立董事,2024年度严格按照《中华人民共和 国公司法》《中华人民共和国证券法》《上市公司独立董事管理 办法》《上海证券交易所科创板股票上市规则》《公司章程》《独 立董事工作办法》等相关法律、法规、规章的规定和要求,诚 实、勤勉、独立地履行职责,积极出席相关会议,认真审议董 事会各项议案,参与公司治理,对公司重大事项发表了独立意 见,切实维护公司和广大股东的合法权益,充分发挥了独立董 事及战略规划及执行委员会、提名委员会和科技创新委员会的 作用。现将本人2024年度履行独立董事职责的情况报告如下: 一、独立董事的基本情况 (一)独立董事人员情况 公司董事会由9名董事组成,其中独立董事3人,占董事 会人数的三分之一,符合相关法律法规及公司制度的规定。 (二)个人工作履历、专业背景 沈江,1960年出生,中国国籍,无境外永久居留权,南京 电力自动化研究院继电保护专业硕士。1984年9月至1999年 10月历任华北电力科学研究院员工、副院长,1999年10月至 2020年12月历任国家电 ...