Market Performance - The other power equipment sector increased by 2.1% on September 24, with Haibo Sichuang leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Individual Stock Performance - Haibo Sichuang (688411) closed at 268.98, up 4.30% with a trading volume of 47,300 shares and a transaction value of 1.27 billion [1] - Shanghai Electric (601727) closed at 8.87, up 4.11% with a trading volume of 8.15 million shares and a transaction value of 7.25 billion [1] - Other notable performers include Kewell (688551) up 3.94%, Yingjie Electric (300820) up 3.45%, and Futec Technology (832110) up 2.52% [1] Fund Flow Analysis - The other power equipment sector experienced a net outflow of 205 million from institutional investors, while retail investors saw a net inflow of 333 million [2][3] - Major stocks like Shanghai Electric and Haibo Sichuang had mixed fund flows, with Shanghai Electric seeing a significant net outflow from both institutional and retail investors [3]

Market Performance - The other power equipment sector increased by 0.96% on September 22, with Aikesaibo leading the gains [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Top Gainers - Aikesaibo (688719) closed at 40.40, up 8.84% with a trading volume of 33,700 shares and a turnover of 132 million yuan [1] - Haibosi Chuang (688411) closed at 217.46, up 7.65% with a trading volume of 34,400 shares and a turnover of 711 million yuan [1] - Koweier (688551) closed at 41.86, up 5.10% with a trading volume of 19,600 shares and a turnover of 79.83 million yuan [1] Other Notable Performers - Xizi Clean Energy (002534) closed at 16.37, up 4.87% with a trading volume of 408,900 shares and a turnover of 665 million yuan [1] - Rongfa Nuclear Power (002366) closed at 7.79, up 3.73% with a trading volume of 909,500 shares and a turnover of 701 million yuan [1] - KOTAI Power (300153) closed at 38.75, up 3.64% with a trading volume of 184,900 shares and a turnover of 707 million yuan [1] Market Outflows - The other power equipment sector experienced a net outflow of 106 million yuan from institutional investors, while retail investors saw a net inflow of 76.57 million yuan [2][3] - The sector's overall trading activity indicated a mixed sentiment among different investor types, with retail investors showing more interest compared to institutional investors [2][3] Individual Stock Flows - Zhongheng Electric (002364) had a net inflow of 161 million yuan from institutional investors, representing 8.27% of its trading volume [3] - Xizi Clean Energy (002534) saw a net outflow of 36.74 million yuan from retail investors, indicating a potential shift in investor sentiment [3] - Rongfa Nuclear Power (002366) also experienced a significant net outflow from retail investors, totaling 74.71 million yuan [3]

Core Viewpoint - Kewell Technology Co., Ltd. has shown significant stock performance and financial metrics, indicating potential investment interest in the company [1][2]. Group 1: Stock Performance - On September 18, Kewell's stock price increased by 2.19%, reaching 41.93 CNY per share, with a trading volume of 24.45 million CNY and a turnover rate of 0.70%, resulting in a total market capitalization of 3.525 billion CNY [1]. - Year-to-date, Kewell's stock price has risen by 51.95%, with a 2.32% increase over the last five trading days, a 1.99% increase over the last 20 days, and a 45.54% increase over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on August 8, where it recorded a net purchase of 29.9745 million CNY [1]. Group 2: Business Overview - Kewell, established on June 3, 2011, and listed on September 10, 2020, specializes in the research, production, and sales of professional testing power supplies, serving various industries including renewable energy generation, electric vehicles, fuel cells, and power devices [2]. - The revenue composition of Kewell includes 88.84% from testing power supplies, 6.61% from power semiconductor testing equipment, 3.74% from hydrogen testing and intelligent manufacturing equipment, and 0.80% from other sources [2]. - Kewell operates within the "Electric Power Equipment - Other Power Supply Equipment" sector and is associated with concepts such as commercial aerospace, small-cap stocks, specialized and innovative enterprises, IGBT concepts, and semiconductors [2]. Group 3: Financial Metrics - As of June 30, 2025, Kewell reported a revenue of 224 million CNY, a year-on-year decrease of 11.62%, and a net profit attributable to shareholders of 31.056 million CNY, down 25.92% year-on-year [2]. - The company has distributed a total of 147 million CNY in dividends since its A-share listing, with 113 million CNY distributed over the past three years [3]. - As of June 30, 2025, Kewell had 5,661 shareholders, an increase of 21.40% from the previous period, with an average of 14,850 circulating shares per shareholder, a decrease of 17.63% [2].

Market Overview - On September 15, the other power equipment sector rose by 1.21%, with Haibo Sichuang leading the gains [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Stock Performance - Key stocks in the other power equipment sector showed significant price movements: - Hailan Sichuang (688411) closed at 198.29, up 8.65% with a trading volume of 72,600 shares and a turnover of 1.496 billion [1] - Zhongheng Electric (002364) closed at 30.86, up 7.34% with a trading volume of 845,400 shares and a turnover of 2.539 billion [1] - Rongfa Nuclear Power (002366) closed at 8.08, up 5.21% with a trading volume of 2,317,900 shares and a turnover of 1.831 billion [1] - Other notable performers include ST Huaxi (002630) and Maigemi Te (002851), with increases of 4.35% and 4.25% respectively [1] Fund Flow Analysis - The other power equipment sector experienced a net outflow of 9.9061 million from institutional investors, while retail investors saw a net outflow of 14.7 million [2] - Conversely, speculative funds recorded a net inflow of 157 million [2] Individual Stock Fund Flow - Maigemi Te (002851) had a net inflow of 1.60 million from institutional investors but a net outflow of 44.4606 million from speculative funds [3] - Zhongheng Electric (002364) saw a net inflow of 15.9 million from institutional investors, with a net outflow of 1.54 billion from retail investors [3] - Rongfa Nuclear Power (002366) had a net inflow of 12.4 million from institutional investors but faced significant outflows from both speculative and retail investors [3]

国泰海通证券股份有限公司 关于科威尔技术股份有限公司 2025 年半年度持续督导跟踪报告 | 保荐机构名称：国泰海通证券股份有限公司 | 被保荐公司简称：科威尔 | | --- | --- | | 保荐代表人姓名：康欣、彭辰 | 被保荐公司代码：688551 | 重大事项提示 科威尔技术股份有限公司（以下简称"上市公司"、"公司"或"科威尔"）， 2025 年上半年公司利润总额 2,830.49 万元，同比减少 31.78%；实现归属于上市 公司股东的扣除非经常性损益的净利润 818.28 万元，同比减少 78.50%，主要原 因系受市场竞争加剧等因素影响，公司收入小幅下滑，部分主营产品价格承压， 虽通过精益管理和节能降耗严控成本，但成本降幅不及价格降幅，导致盈利能力 减弱。如未来公司研发进度滞后、成果未达预期或新产品竞争力不足、行业竞争 程度加剧、原材料价格和人力成本上升，可能在一定时期内对公司的经营业绩产 生不利影响。 经中国证券监督管理委员会《关于同意科威尔技术股份有限公司向特定对象 发行股票注册的批复》（证监许可〔2023〕2505 号）批复，科威尔技术股份有 限公司（以下简称"上市公司"、"公司"或 ...

Meeting Overview - The third extraordinary general meeting of shareholders was held on September 9, 2025, at the company's headquarters in Hefei [2] - The meeting was convened by the board of directors and chaired by Chairman Fu Shitao, utilizing both on-site and online voting methods [2][3] Attendance - All 11 current directors attended the meeting, along with the company secretary and other senior management [3] Resolutions - The proposal regarding the conclusion of over-raised funds investment projects and the permanent allocation of remaining raised funds to supplement working capital was approved [4] - The voting process for the proposal included separate counting for minority investors [4] Legal Verification - The meeting was witnessed by Anhui Tianhe Law Firm, which confirmed that all procedures and resolutions complied with relevant laws and regulations [5]

（原标题：科威尔现2笔大宗交易 合计成交39.02万股） 9月9日科威尔大宗交易一览 科威尔9月9日大宗交易平台共发生2笔成交，合计成交量39.02万股，成交金额1558.35万元。成交价格均 为39.94元。从参与大宗交易营业部来看，机构专用席位共出现在2笔成交的买方或卖方营业部中，合计 成交金额为1558.35万元，净卖出1558.35万元。 | 成交量 （万股） | 成交金额 （万元） | 成交价格 （元） | 相对当日 收盘折溢价 （%） | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | 30.00 | 1198.20 | 39.94 | 0.00 | 申万宏源证券有限公司长沙五一大道证券营业部 | 机构专用 | | 9.02 | 360.15 | 39.94 | 0.00 | 申万宏源证券有限公司长沙五一大道证券营业部 | 机构专用 | 进一步统计，近3个月内该股累计发生4笔大宗交易，合计成交金额为2561.35万元。 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 证券时报•数据宝统计显示，科威尔今日收盘价为39.94 ...

（文章来源：证券日报） 证券日报网讯 9月9日晚间，科威尔发布公告称，公司2025年第三次临时股东会于2025年9月9日召开， 审议通过了《关于超募资金投资项目结项并将结余募集资金永久补充流动资金的议案》。 ...

Group 1 - The stock of Kewell closed down by 4.56% on September 9, with a closing price of 39.94 yuan [1] - Two block trades occurred, totaling a volume of 390,200 shares and a transaction amount of 15.5835 million yuan [1] - The first transaction involved 300,000 shares at a price of 39.94 yuan, amounting to 11.982 million yuan, with a premium rate of 0.00% [1] - The second transaction involved 90,200 shares at the same price, totaling 3.6015 million yuan, also with a premium rate of 0.00% [1] Group 2 - In the last three months, Kewell has had a total of four block trades, with a cumulative transaction amount of 25.6135 million yuan [1] - Over the past five trading days, the stock has declined by 1.50%, with a net outflow of 13.6792 million yuan in principal funds [1]

法律意见书 安徽天禾律师事务所关于 科威尔技术股份有限公司 2025 年第三次临时股东会之法律意见书 安徽天禾律师事务所 ANHUI TIANHE LAW OFFICE 地址：安徽省合肥市怀宁路 288 号置地广场 A 座 34-35F 电话：（0551）62642792 传真：（0551）62620450 网址：http://www.tianhelaw.cn 法律意见书 安徽天禾律师事务所关于 科威尔技术股份有限公司 2025 年第三次临时股东会之法律意见书 天律意字[2025]第 02431 号 致：科威尔技术股份有限公司 本所律师已严格履行法定职责，遵循了勤勉尽责和诚实信用原则，对科威 尔的行为以及本次会议的召集和召开程序、出席会议人员的资格和召集人资 格、本次会议的提案、会议的表决程序和结果等有关事宜进行了充分的核查验 证，保证本法律意见书不存在虚假记载、误导性陈述及重大遗漏。 本所律师同意将本法律意见书作为公司本次会议的必备文件公告，并依法 对本法律意见承担责任。 本所律师按照律师行业公认的业务标准、道德规范和勤勉尽责精神，根据 科威尔提供的本次会议的有关材料，对因出具本法律意见书而需要提供或披露 ...