Financial Performance - The company's operating revenue for the third quarter was ¥1,598,772,594.34, a decrease of 16.58% compared to the same period last year[3] - The total profit for the third quarter was -¥523,659,755.38, with a year-to-date total profit of -¥726,435,106.53[3] - The net profit attributable to shareholders for the third quarter was -¥452,744,597.58, and year-to-date it was -¥731,666,756.79[3] - Total operating revenue for the first three quarters of 2025 reached ¥4,262,281,449.79, a significant increase of 36.1% compared to ¥3,134,871,098.27 in the same period of 2024[16] - The net loss for the first three quarters of 2025 was ¥737,130,708.32, compared to a net loss of ¥477,204,502.87 in 2024, representing a deterioration of 54.4%[17] - The company’s total comprehensive loss for the first three quarters of 2025 was ¥736,889,213.63, compared to a loss of ¥477,657,911.91 in 2024[17] Assets and Liabilities - The total assets at the end of the reporting period were ¥33,916,249,174.53, representing a 16.13% increase from the end of the previous year[4] - The company's total assets reached CNY 33,916,249,174.53, up from CNY 29,205,008,726.80[13] - Total liabilities increased to CNY 29,516,690,691.08 from CNY 24,081,186,510.10[14] - The company's total liabilities reached CNY 27,675,803,692.95, an increase from CNY 24,420,243,766.13 at the end of 2024, marking a rise of 9.2%[22] - The total equity decreased to CNY 4,092,733,051.02 as of September 30, 2025, down from CNY 4,654,243,989.27 at the end of 2024, reflecting a decline of 12.1%[23] Cash Flow - The net cash flow from operating activities for the third quarter was -¥825,426,366.89, a significant decrease of 550.45% compared to the same period last year[4] - Cash flow from operating activities showed a net outflow of ¥608,732,035.94 in 2025, an improvement from a net outflow of ¥2,346,795,889.77 in 2024[19] - Net cash flow from operating activities was -CNY 653.68 million, an improvement from -CNY 2.70 billion year-over-year[27] - Total cash inflow from financing activities in 2025 was ¥1,236,697,207.27, a decrease from ¥3,143,079,376.68 in 2024[20] Shareholder Information - The company reported a total of 41,384 common shareholders at the end of the reporting period[9] - The largest shareholder, Shanghai Electric Group Co., Ltd., holds 61.4% of the shares, totaling 818,666,636 shares[9] Research and Development - Research and development expenses totaled ¥149,787,500.32 for the quarter, accounting for 9.37% of operating revenue, a decrease of 1.63 percentage points year-on-year[4] - Research and development expenses for the first three quarters of 2025 were CNY 386,572,575.02, slightly down from CNY 417,317,342.38 in the same period of 2024[25] Orders and Backlog - The company reported a total of 8,397.85 MW in new orders, representing a year-over-year increase of 17.49%[11] - The cumulative backlog of orders reached 22,200.20 MW, up 52.41% compared to the same period last year[11]

Core Viewpoint - The performance of the Zhongzheng 2000 ETF Enhanced (159556) has shown a decline in opening price, reflecting market volatility and the performance of its underlying stocks [1] Group 1: Fund Performance - The Zhongzheng 2000 ETF Enhanced (159556) opened at 1.174 yuan, down 0.93% [1] - Since its establishment on December 27, 2023, the fund has achieved a return of 18.12% [1] - The fund's return over the past month is reported at 2.20% [1] Group 2: Top Holdings Performance - Major holdings include Huajian Group, which fell by 4.06%, and Dekeli, which decreased by 1.88% [1] - Other notable stock movements include Xuguang Electronics rising by 0.54%, and Beihua Co. declining by 0.46% [1] - The performance of Electric Wind Power dropped by 2.21%, while Xinke Materials increased by 0.51% [1] - Jiayuan Technology saw a decrease of 0.42%, while Hongjing Technology rose by 0.07% [1] - Yongding Co. and Furui Electronics increased by 1.07% and 1.45%, respectively [1] Group 3: Management Information - The fund is managed by Ping An Fund Management Co., Ltd., with Li Yan as the fund manager [1] - The performance benchmark for the fund is the Zhongzheng 2000 Index return [1]

Company Overview - Shanghai Electric Wind Power Group Co., Ltd. is located at 115 Caobao Road, Xuhui District, Shanghai, established on September 7, 2006, and listed on May 19, 2021. The company's main business involves the design, research and development, manufacturing, and sales of wind power generation equipment, as well as aftermarket services [1][2]. Financial Performance - For the period from January to June 2025, the company achieved operating revenue of 2.664 billion yuan, representing a year-on-year growth of 118.61%. The net profit attributable to the parent company was -279 million yuan, showing a year-on-year increase of 27.89% [2]. - Since its A-share listing, the company has distributed a total of 153 million yuan in dividends, with no dividends distributed in the past three years [3]. Stock Performance - As of October 27, the stock price of Electric Wind Power decreased by 2.02%, trading at 19.39 yuan per share, with a total market capitalization of 25.853 billion yuan. The stock has increased by 115.44% year-to-date [1]. - The stock has appeared on the "Dragon and Tiger List" 10 times this year, with the most recent appearance on September 23, where it recorded a net purchase of 36.2308 million yuan [1]. Shareholder Information - As of June 30, the number of shareholders for Electric Wind Power was 29,900, a decrease of 2.62% from the previous period. The average circulating shares per person increased by 2.69% to 44,636 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third-largest shareholder, holding 12.128 million shares, an increase of 6.6556 million shares compared to the previous period [3]. Industry Classification - Electric Wind Power belongs to the Shenwan industry classification of power equipment, specifically in the wind power equipment and wind power complete machine sectors. It is associated with concepts such as new energy, mid-cap stocks, margin financing, Shanghai state-owned assets, and annual strong stocks [2].

Core Viewpoint - A new company, Shandong (Wudalianchi) New Energy Equipment Co., Ltd., has been established, focusing on the manufacturing and sales of new energy equipment and related services [1] Company Summary - The legal representative of the newly established company is Zhao Yang [1] - The company's business scope includes the manufacturing of new energy prime mover equipment, sales of new energy prime mover equipment, manufacturing of generators and generator sets, and wind power technology services [1] - The company is wholly owned by Electric Wind Power [1]

Group 1 - The wind power equipment sector experienced a volatile pullback, with significant declines in stock prices [1] - Shuangyi Technology saw a drop of over 7%, while Jixin Technology fell by more than 6% [1] - Other companies such as Electric Wind Power, Weili Transmission, and Guoda Special Materials also followed the downward trend [1]

Core Viewpoint - The company will hold a performance briefing for the third quarter of 2025 to enhance communication with investors and provide insights into its operational results and financial metrics [3]. Group 1: Meeting Details - The performance briefing is scheduled for October 30, 2025, from 14:00 to 15:00 [2][4]. - The meeting will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online text format [4]. - Investors can submit questions from October 23 to October 29, 2025, before 16:00, through the Roadshow Center website or via the company's email [2][5]. Group 2: Company Participation - Key participants from the company include Chairman Qiao Yinping, CEO Wang Yong, and other board members [5]. - The company may adjust the list of attendees due to special circumstances [5]. Group 3: Investor Participation - Investors can log in to the Roadshow Center on the day of the meeting to participate and ask questions [5]. - The company will address commonly asked questions during the briefing [6]. Group 4: Contact Information - The Securities Affairs Department can be contacted for inquiries at 021-54961895 or via email at sewc_ir@shanghai-electric.com [6].

Core Insights - The article emphasizes the importance of integrating various renewable energy technologies to support China's "14th Five-Year Plan" for high-quality development in the energy sector [2][3][17] Group 1: Event Participation - The company actively participated in the CWP 2025 Wind Energy Exhibition and hosted the "Shanghai Electric Wind-Solar-Storage Integration Innovation Seminar," gathering over 150 experts to discuss collaborative development paths for wind-solar-storage systems [1] - The participation included showcasing cutting-edge insights and comprehensive solutions in areas such as wind, solar, storage, and hydrogen energy [1][19] Group 2: Product and Solution Offerings - The company focuses on providing high-reliability products and solutions tailored to various scenarios, including desert areas, offshore wind, and decentralized green electricity connections [3][4][17] - New product launches include a more efficient heterojunction solar module 2.0, designed to enhance customer returns through customized solutions [7][10] - The company has achieved over 1 billion yuan in new orders for liquid flow batteries for two consecutive years, establishing itself as a leader in the market [10] Group 3: Technological Innovations - The company is developing a comprehensive sensing framework to ensure high reliability and profitability in power generation, addressing environmental and operational challenges [20][22] - AI-driven predictive maintenance is being implemented to transition from reactive to proactive maintenance strategies, enhancing the reliability of the entire lifecycle of energy systems [22] Group 4: Integration and Ecosystem Development - The company aims to create a zero-carbon ecosystem by leveraging its full industrial chain capabilities, focusing on integrated solutions for centralized and comprehensive energy systems [17] - The integration of renewable energy with ecological restoration projects, such as solar energy in desert areas, demonstrates the company's commitment to sustainable development [30] Group 5: Hydrogen Energy Initiatives - The company is establishing a full-chain layout for green hydrogen, focusing on production, storage, and application, supported by successful projects in wind energy and biomass [33]

Core Viewpoint - The article highlights the advancements and innovations in the wind energy sector showcased at the Beijing International Wind Energy Conference and Exhibition (CWP2025), emphasizing China's leading position in wind power technology globally. Group 1: Turbine Innovations - Goldwind Technology introduced a trading-type wind turbine that shifts from a passive to an active generation model, potentially increasing project returns by 2% to 2.5% over its lifecycle [3] - Mingyang Smart Energy launched the world's first 50MW wind turbine, significantly increasing the maximum capacity of wind turbines and designed for deep-sea applications [7] - SANY Heavy Energy presented the SI-242 series wind turbine, capable of operating efficiently across a wide range of wind speeds, with a rotor diameter of 242 meters [8] - Envision Energy unveiled the first AI-integrated wind-storage unit, merging wind turbines, storage, and AI to enhance operational efficiency [5] Group 2: Component Innovations - Luozhou showcased the world's first 16MW offshore wind turbine main bearing, designed for large-scale wind turbine stability [23] - Pangu Intelligent launched a hydraulic motor yaw system that improves reliability and lifespan compared to traditional systems [25] - TBEA New Energy introduced the upgraded TSVG6.0 product, enhancing reliability and operational efficiency through advanced design and technology [27] Group 3: Comprehensive Solutions - China CRRC presented a comprehensive energy solution integrating wind, solar, hydrogen, and AI technologies, aimed at achieving sustainable development goals [11] - Shanghai Electric highlighted its integrated projects, including green hydrogen production and floating wind-fish integration, showcasing its capabilities in the renewable energy sector [13] - XBL Wind Power signed a strategic partnership with Multi Engineering Group to develop a dual-head floating wind power solution, focusing on cost efficiency and system performance [19]

证券代码：688660 证券简称：电气风电 公告编号：2025-035 上海电气风电集团股份有限公司 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、准确性和完整性依法承担法律责任。 重要内容提示： 会议召开时间：2025年10月30日（星期四）14:00-15:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 投资者可于2025年10月23日(星期四)至10月29日(星期三)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 sewc_ir@shanghai-electric.com进行提问。公司将在本次业绩说明会上对投资 者普遍关注的问题进行回答。 一、说明会类型 上海电气风电集团股份有限公司（以下简称"公司"）将于 2025 年 10 月 29 日披露公司 2025 年第三季度 ...

Core Insights - The wind power equipment sector experienced a significant increase of 3.12% on October 22, with Electric Wind Power leading the gains [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Wind Power Equipment Sector Performance - Electric Wind Power (688660) saw a closing price of 21.81, with a remarkable increase of 11.96% and a trading volume of 579,700 shares [1] - New Strong Union (300850) closed at 48.17, up 8.49%, with a trading volume of 539,400 shares [1] - Other notable performers included: - Weili Transmission (300904) at 87.10, up 8.05% [1] - Fugu Intelligent (301456) at 37.20, up 7.67% [1] - Daikin Heavy Industry (002487) at 49.55, up 5.88% [1] Capital Flow Analysis - The wind power equipment sector saw a net inflow of 697 million yuan from institutional investors, while retail investors experienced a net outflow of 768 million yuan [2] - Key stocks with significant capital flow included: - Goldwind Technology (002202) with a net inflow of 256 million yuan from institutional investors [3] - New Strong Union (300850) with a net inflow of 70.77 million yuan [3] - Electric Wind Power (688660) with a net inflow of 55.72 million yuan [3]