证券代码：688717 证券简称：艾罗能源 公告编号：2025-039 浙江艾罗网络能源技术股份有限公司 关于 2025 年半年度募集资金存放与实际使用情况的 专项报告 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、准确性和完整性承担法律责任。 一、募集资金基本情况 （一）实际募集资金金额、资金到账时间 经中国证券监督管理委员会证监许可[2023]1094 号《关于同意浙江艾罗网 络能源技术股份有限公司首次公开发行股票注册的批复》同意注册，本公司于 2023 年 12 月向社会公开发行人民币普通股（A 股）4,000 万股，每股发行价为 55.66 元，应募集资金总额为人民币 2,226,400,000.00 元，扣除不含增值税券 商承销费用和保荐费用合计 206,624,800.00 元，公司实际收到募集资金 2,019,775,200.00 元。另减除其他不含增值税发行费用 31,700,658.00 元（包 括审计费 15,925,700.00 元、律师费 9,551,400.00 元以及其他可扣除费用 6,223,558.00 元），公司本次募集 ...

一、聚焦经营主业，提升经营质量 浙江艾罗网络能源技术股份有限公司 2025 年度"提质增效重回报"专项行动方案的半年度 评估报告 为深入贯彻党的二十大和中央金融工作会议精神，落实国务院《关于进一步 提高上市公司质量的意见》要求，积极推动公司高质量发展和投资价值提升，保 护投资者尤其是中小投资者的合法权益，浙江艾罗网络能源技术股份有限公司 （以下简称"公司"）于 2025 年 4 月 29 日发布了《浙江艾罗网络能源技术股份 有限公司 2025 年度"提质增效重回报"专项行动方案》。2025 年上半年，公司 根据行动方案内容，积极开展和落实各项工作，现将 2025 年度行动方案在报告 期内的实施和效果评估情况报告如下： 2025 年上半年，公司始终坚持以市场为导向，以技术创新为核心驱动力， 持续深化技术研发及市场拓展，积极打开第二成长曲线。随着公司 AELIO、 TRENE 系列工商业储能等新产品的逐渐放量和新兴市场的持续拓展，公司整体 经营保持稳健发展态势。 报告期内，公司实现营业收入 180,670.49 万元，同比增长 14.09%；归属于 上市公司股东的净利润 14,178.36 万元，同比增长 37. ...

[Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The board and senior management assure the semi-annual report's truthfulness, accuracy, and completeness, noting it is unaudited and without a profit distribution plan - The company's board of directors and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report and assume legal responsibility[5](index=5&type=chunk) - This semi-annual report is unaudited[6](index=6&type=chunk) - There is no profit distribution plan or capital reserve to share capital increase plan for the reporting period[7](index=7&type=chunk) [Section I Definitions](index=4&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) This section defines common terms used in the report, covering corporate governance structures and core business-related professional terminology - Airo Energy refers to Zhejiang Airo Network Energy Technology Co., Ltd[13](index=13&type=chunk) - Photovoltaic inverters include grid-tied inverters and energy storage inverters, which are core equipment for photovoltaic power generation systems[14](index=14&type=chunk) - **BMS (Battery Management System)** and **EMS (Energy Management System)** are key technologies in energy storage systems[14](index=14&type=chunk) [Section II Company Profile and Key Financial Indicators](index=5&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section presents the company's basic information, stock overview, and key financial indicators for H1 2025, showing revenue and net profit growth but negative operating cash flow [Company Basic Information](index=5&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) Zhejiang Airo Network Energy Technology Co., Ltd., or Airo Energy, is legally represented by Li Xinfu and registered in Tonglu County, Hangzhou, Zhejiang - The company's Chinese name is Zhejiang Airo Network Energy Technology Co., Ltd., abbreviated as Airo Energy[16](index=16&type=chunk) - The company's legal representative is Li Xinfu[16](index=16&type=chunk) - The company's registered address is No. 278 Shizhu Road, Chengnan Street, Tonglu County, Hangzhou, Zhejiang Province[16](index=16&type=chunk) [Contact Person and Information](index=6&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) The company's Board Secretary (domestic information disclosure representative) is Sheng Jianfu, and the Securities Affairs Representative is Wen Ting, with disclosed contact details - The Board Secretary is Sheng Jianfu, and the Securities Affairs Representative is Wen Ting[18](index=18&type=chunk) - The company's email address is ir@solaxpower.com[18](index=18&type=chunk) [Brief Introduction to Changes in Information Disclosure and Document Storage Locations](index=6&type=section&id=%E4%B8%89%E3%80%81%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E5%8F%8A%E5%A4%87%E7%BD%AE%E5%9C%B0%E7%82%B9%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5%E7%AE%80%E4%BB%8B) The company's designated information disclosure newspapers include "China Securities Journal," with the Shanghai Stock Exchange website as the official online platform, and the Board Office as the report storage location - The company's information disclosure newspapers include "China Securities Journal," "Shanghai Securities News," "Securities Times," "Securities Daily," and "Economic Reference News"[19](index=19&type=chunk) - The website address for the semi-annual report is http://www.sse.com.cn/[19](index=19&type=chunk) [Overview of Company Shares/Depositary Receipts](index=6&type=section&id=%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E7%A5%A8/%E5%AD%98%E6%89%98%E5%87%AD%E8%AF%81%E7%AE%80%E5%86%B5) The company's shares are RMB ordinary shares (A-shares), listed and traded on the STAR Market of the Shanghai Stock Exchange, with stock ticker "Airo Energy" and stock code 688717 - The company's stock type is RMB ordinary shares (A-shares), listed on the STAR Market of the Shanghai Stock Exchange[20](index=20&type=chunk) - The stock ticker is "Airo Energy," and the stock code is 688717[20](index=20&type=chunk) [Company's Key Accounting Data and Financial Indicators](index=7&type=section&id=%E5%85%AD%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In H1 2025, the company's operating revenue increased by 14.09%, net profit attributable to shareholders by 37.65%, and non-recurring net profit by 59.53%, but net cash flow from operating activities turned negative, decreasing by 120.73% [Key Accounting Data](index=7&type=section&id=%28%E4%B8%80%29%20%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE) This section presents the company's key accounting data for the first half of 2025, including revenue, net profit, and cash flow figures 2025 H1 Key Accounting Data | Indicator | Current Period (Jan-Jun) (CNY) | Prior Period (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,806,704,879.73 | 1,583,616,576.93 | 14.09 | | Total Profit | 129,181,339.25 | 109,082,717.38 | 18.43 | | Net Profit Attributable to Shareholders of Listed Company | 141,783,619.26 | 103,006,729.74 | 37.65 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | 104,910,146.01 | 65,762,685.95 | 59.53 | | Net Cash Flow from Operating Activities | -87,740,539.62 | 423,304,800.78 | -120.73 | | Net Assets Attributable to Shareholders of Listed Company (Period-end) | 4,542,628,112.79 | 4,398,811,898.89 | 3.27 | | Total Assets (Period-end) | 6,711,735,893.49 | 6,136,237,669.85 | 9.38 | [Key Financial Indicators](index=7&type=section&id=%28%E4%BA%8C%29%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section outlines the company's key financial performance indicators for H1 2025, including earnings per share and return on equity 2025 H1 Key Financial Indicators | Indicator | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (CNY/share) | 0.89 | 0.64 | 39.06 | | Diluted Earnings Per Share (CNY/share) | 0.89 | 0.64 | 39.06 | | Basic Earnings Per Share (Excluding Non-recurring Gains/Losses) (CNY/share) | 0.66 | 0.41 | 60.98 | | Weighted Average Return on Net Assets (%) | 3.17 | 2.34 | Increase by 0.83 percentage points | | Weighted Average Return on Net Assets (Excluding Non-recurring Gains/Losses) (%) | 2.35 | 1.50 | Increase by 0.85 percentage points | |

Investment Rating - The investment rating for the industry is "Strongly Recommended" for companies like 阳光电源 and 艾罗能源, while 德业股份 is rated as "Increase Holding" [2]. Core Insights - Indonesia has announced a large-scale solar and storage plan, aiming to deploy "1MW solar + 4MWh storage" microgrid systems in 80,000 villages, totaling 80GW of solar and 320GWh of storage, with an estimated investment in the trillion RMB range [1][7][10]. - The country's electricity infrastructure is underdeveloped, with a significant potential for microgrid solar storage systems due to its geographical challenges and low electricity access [9][10]. - The easing of local content requirements and regulatory restrictions has significantly improved the prospects for solar development in Indonesia, which is expected to drive growth in distributed solar and storage-related enterprises [8][9][10]. Industry Overview - The industry consists of 300 listed companies with a total market capitalization of 600.39 billion RMB, and a circulating market value of 518.13 billion RMB [3]. - The absolute performance of the industry has shown significant growth, with a 58.5% increase over 12 months [5]. Related Companies - 阳光电源 has been involved in overseas storage business for over a decade and is expected to benefit significantly from the Indonesian market [30]. - 艾罗能源 focuses on distributed solar and storage systems, with a growing presence in emerging markets [31]. - 森特股份 has signed a strategic cooperation with Indonesia's largest rural cooperative to promote integrated solar storage solutions [32]. - 德业股份 has strong competitiveness in household storage systems and is well-positioned in emerging markets [33].

Core Viewpoint - Airo Energy's stock price has experienced a decline, reflecting market fluctuations and investor sentiment towards the company's performance in the photovoltaic and energy storage sectors [1] Group 1: Stock Performance - As of August 20, 2025, Airo Energy's stock price is reported at 68.00 yuan, down 1.85% from the previous trading day [1] - The opening price for the day was 69.28 yuan, with a high of 69.63 yuan and a low of 66.00 yuan [1] - The trading volume reached 54,621 hands, with a total transaction amount of 368 million yuan [1] Group 2: Business Overview - Airo Energy specializes in the research and development of photovoltaic equipment and energy storage systems, operating in sectors including photovoltaic equipment, energy storage, and virtual power plants [1] - The company is registered in Zhejiang and is one of the stocks eligible for the Shanghai-Hong Kong Stock Connect [1] Group 3: Market Activity - On the same day, there was a net outflow of 11.54 million yuan in principal funds, with a cumulative net outflow of 98.44 million yuan over the past five trading days [1] - The company clarified on its interactive platform that its technology and products do not involve the AIDC field [1]

本公司董事会、全体董事及相关股东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： 股东持股的基本情况 本次减持计划实施前，股东上海中电投融和新能源投资管理中心（有限合伙） （以下简称"上海中电投"）持有浙江艾罗网络能源技术股份有限公司（以下简 称"公司"）股份 6,388,320 股，占公司总股本的比例为 3.99%。 证券代码：688717 证券简称：艾罗能源 公告编号：2025-038 浙江艾罗网络能源技术股份有限公司 股东提前终止减持计划暨减持股份结果公告 （一）股东因以下事项披露减持计划实施结果： 其他情形：减持计划提前终止 | 股东名称 | 上海中电投 | | --- | --- | | 减持计划首次披露日期 | 2025 年 5 月 6 日 | | 减持数量 | 1,594,519股 | | 减持期间 | 2025 年 6 月 10 日～2025 年 8 月 19 日 | | 减持方式及对应减持数 | 集中竞价减持，1,594,519 股 | | 量 | | | 减持价格区间 | 55.66～75.82元/股 | | ...

Group 1 - Airo Energy (688717.SH) announced the receipt of a reduction result notification from Shanghai Electric Power Investment on August 19, 2025 [1] - As of August 19, 2025, Shanghai Electric Power Investment has cumulatively reduced its holdings by 1,594,500 shares, accounting for 0.9966% of the company's total share capital [1] - The reduction plan was terminated ahead of schedule [1]

格隆汇8月20日丨艾罗能源(688717.SH)在投资者互动平台表示，公司与英诺赛科无合作。 ...

Core Viewpoint - Airo Energy (688717.SH) clarified on the investor interaction platform that its technology and products do not involve AIDC [1] Company Summary - Airo Energy has confirmed that its technological offerings are not related to AIDC [1]

从资金流向上来看，当日光伏设备板块主力资金净流入17.79亿元，游资资金净流出15.26亿元，散户资 金净流出2.53亿元。光伏设备板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300724 | 捷佳伟创 | 74.32 | 10.86% | 40.60万 | 29.19 乙 | | 001269 | 欧晶科技 | 29.00 | 10.02% | 8.10万 | 2.27亿 | | 003022 | 联汕新科 | 18.48 | 10.00% | 30.60万 | 5.47亿 | | 688516 | 圆特维 | 39.82 | 8.35% | - 16.41万 | 6.37亿 | | 688717 | 艾罗能源 | 71.00 | 8.22% | 8.34万 | 5.84亿 | | 002459 | 晶澳科技 | 11.64 | 7.28% | 141.09万 | 16.08亿 | | 688408 | 中信博 | 52.36 | 7.25% | 9.88万 | ...