Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [5] Core Views - The company's revenue for the first half of 2025 reached 4.357 billion yuan, a year-on-year increase of 17.33%, with a net profit attributable to shareholders of 559 million yuan, up 52.62% year-on-year [1] - The decline in coal prices has significantly improved the company's cost structure, leading to a substantial increase in profitability in Q2 2025 [2] - The company is progressing well with new projects, indicating considerable potential for future installed capacity growth [3] - The adjustment of capacity pricing in Guangdong province is expected to stabilize the profitability of thermal power generation [4] Revenue and Profitability - In Q2 2025, the company's revenue was 2.377 billion yuan, a 49.81% increase year-on-year, with a net profit of 259 million yuan, reflecting a 60.51% year-on-year growth [1][2] - The average coal price in Qinhuangdao for Q2 was approximately 632 yuan per ton, down about 217 yuan per ton year-on-year, contributing to improved margins [2] Project Development - As of the end of 2024, the company had a total installed capacity of 3.47 million kilowatts, with ongoing expansion projects that could significantly increase this capacity in the future [3] Financial Forecasts - The adjusted net profit forecasts for 2025, 2026, and 2027 are 962.22 million yuan, 1.08052 billion yuan, and 1.12285 billion yuan, respectively, with year-on-year growth rates of 36.38%, 12.29%, and 3.92% [4] - The report projects a price-to-earnings ratio (P/E) of 10.63 for 2025, 9.46 for 2026, and 9.11 for 2027 [4]

为进一步加强与投资者的互动交流，广东宝丽华新能源股份有限公司（以下 简称"公司"）将参加由中国证券监督管理委员会广东监管局、广东上市公司协 会联合举办的"向新提质 价值领航——2025 广东辖区上市公司投资者关系管理 月活动投资者集体接待日"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）参与本次互动交流，活动时间为 2025 年 9 月 19 日（周五） 15:30-17:00。届时公司高管将在线就 2025 年半年度业绩、公司治理、发展战略、 经营状况和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广 大投资者踊跃参与！ 特此公告。 广东宝丽华新能源股份有限公司 董 事 会 2025 年 9 月 17 日 证券代码：000690 证券简称：宝新能源 公告编号：2025-032 广东宝丽华新能源股份有限公司 关于参加广东辖区 2025 年投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 ...

Core Viewpoint - The announcement details the lifting of restrictions on a portion of shares of Shenzhen Huabao New Energy Co., Ltd., allowing 28,134,167 shares, which account for 16.13% of the total share capital, to be listed for trading on September 19, 2025 [2][4][9]. Group 1: Shareholder Information - The shareholders involved in the lifting of restrictions are three entities: Jia Meisheng, Jia Meihui, and Cheng Qianyi, which are associated with the company's actual controllers and senior management [2][3][9]. - The total number of shareholders participating in the lifting of restrictions is three, with a total of 28,134,167 shares being released [14]. Group 2: Share Structure and Issuance - The company completed its initial public offering (IPO) on September 19, 2022, issuing 24,541,666 shares, resulting in a total share capital of 96,000,000 shares, of which 72,725,595 shares were subject to trading restrictions [5][6]. - As of the announcement date, the total share capital of the company is 174,381,356 shares, with 126,232,167 shares under trading restrictions, representing 72.39% of the total [8][9]. Group 3: Compliance and Commitments - The shareholders lifting the restrictions have adhered to their commitments made during the IPO, ensuring no violations of the relevant laws and regulations regarding share transfers [10][12][13]. - The actual controllers and senior management have voluntarily extended their lock-up period until March 19, 2026, to maintain market stability [15][16].

Core Viewpoint - Guangdong Nengcangbao New Energy Co., Ltd. has been established with a registered capital of 38,000 RMB, focusing on various aspects of new energy and electric vehicle infrastructure [1] Company Summary - The company is engaged in emerging energy technology research and development [1] - It operates electric vehicle charging infrastructure and sells electrical equipment and charging piles [1] - The company also provides services related to battery sales, motor vehicle charging, and battery leasing [1] Industry Summary - The establishment of the company reflects the growing trend in the new energy sector, particularly in electric vehicle infrastructure and technology [1] - The range of services includes technical consulting, technology transfer, and energy management services, indicating a comprehensive approach to the new energy market [1] - The company is involved in the recycling and secondary utilization of used power batteries, which aligns with sustainability goals in the industry [1]

Core Viewpoint - Baoneng New Energy's stock price has shown fluctuations, with a recent decline of 2.07%, while the company has experienced a year-to-date stock price increase of 9.01% [1] Group 1: Stock Performance - As of September 12, Baoneng New Energy's stock price was 4.72 CNY per share, with a total market capitalization of 10.27 billion CNY [1] - The stock has seen a net outflow of 43.44 million CNY in principal funds, with large orders buying 50.44 million CNY and selling 69.28 million CNY [1] - Over the past 60 days, the stock price has increased by 8.26% [1] Group 2: Financial Performance - For the first half of 2025, Baoneng New Energy reported a revenue of 4.36 billion CNY, representing a year-on-year growth of 17.33%, and a net profit attributable to shareholders of 559 million CNY, up 52.62% [2] - Cumulatively, the company has distributed 5.02 billion CNY in dividends since its A-share listing, with 1.15 billion CNY distributed in the last three years [3] Group 3: Shareholder Information - As of August 31, the number of shareholders for Baoneng New Energy reached 81,000, an increase of 0.75% from the previous period [2] - The top three circulating shareholders include Huatai PineBridge Quality Value Mixed Fund, Hong Kong Central Clearing Limited, and Southern CSI 1000 ETF, with significant holdings [3]

Group 1 - The company announced a cash dividend distribution plan for the first half of 2025, proposing a payout of 0.50 RMB per 10 shares to all shareholders [1] - The total number of shares used as the basis for the dividend distribution is 2,175,887,862 [1] - The record date for the dividend is set for September 16, 2025, and the ex-dividend date is September 17, 2025 [1]

证券代码：000690 证券简称：宝新能源 公告编号：2025-031 广东宝丽华新能源股份有限公司 4、本次实施分配方案距离股东大会审议通过的时间未超过两个月。 2025 年半年度权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 广东宝丽华新能源股份有限公司（以下简称"公司"）2025 年半年度权 益分派方案已获 2025 年 9 月 5 日召开的 2025 年第一次临时股东大会审议通过， 现将权益分派事宜公告如下： 一、股东大会审议通过利润分配方案等情况 1、公司 2025 年 9 月 5 日召开的 2025 年第一次临时股东大会审议通过的利 润分配方案为：以 2025 年半年度末公司总股本 2,175,887,862 股为基数，向全体 股东每 10 股派发现金红利 0.50 元（含税），共计分配利润 108,794,393.10 元。 本次不送红股也不进行资本公积金转增股本。 2、自分配方案披露至实施期间，公司股本总额未发生变化。公司本分配方 案，分配比例固定。 3、本次实施的分配方案与股东大会审议通过的分配方案是一致的。 二、本次实施的 ...

Meeting Overview - The company held its fourth extraordinary general meeting on September 9, 2025, at 15:00, chaired by Chairman Sun Zhongwei [3] - The meeting utilized both on-site voting and online voting, with specific time slots for each [3] - The meeting complied with relevant laws and regulations, including the Company Law and the rules of the Shenzhen Stock Exchange [3] Attendance - A total of 133 shareholders attended the meeting, representing 133,108,200 shares, which is 76.7041% of the total voting shares [4] - Among them, 6 shareholders voted on-site, representing 126,232,167 shares (72.7417%), while 127 shareholders voted online, representing 6,876,033 shares (3.9623%) [5][6] - 128 minority shareholders participated, representing 9,530,200 shares (5.4918%) [7] Resolutions Passed - The meeting approved the appointment of the auditing firm for the 2025 fiscal year, with 99.9686% of the votes in favor [11] - The resolution to conclude certain fundraising projects and permanently supplement the remaining funds into working capital was also approved, with 99.9669% of the votes in favor [13] Legal Opinion - The meeting was witnessed by lawyers from Shanghai Jintiancheng (Shenzhen) Law Firm, confirming that the meeting's procedures and results were in compliance with legal requirements [15]

（文章来源：证券日报） 证券日报网讯 9月5日晚间，宝新能源发布公告称，公司2025年第一次临时股东大会审议通过了《公司 2025年半年度利润分配方案》。 ...

广东法制盛邦律师事务所 关于广东宝丽华新能源股份有限公司 见证法律意见书 致：广东宝丽华新能源股份有限公司 广东法制盛邦律师事务所（以下简称"本所"）受广东宝丽华新能源股份有限 公司（以下简称"公司"）的委托，委派本所律师出席公司 2025 年第一次临时股 东大会（以下简称"本次股东大会"），并就本次股东大会的召集和召开程序、召 集人和出席会议人员资格、表决程序、表决结果出具见证法律意见。 为出具本见证法律意见书，本所律师出席了本次股东大会，审查了公司提供 的有关本次股东大会各项议程及相关文件。在审查有关文件的过程中，公司向本 所律师保证并承诺，其向本所提交的文件和所作的说明是真实的，并已经提供出 具本见证法律意见书所必需的、真实的原始书面材料、副本材料或口头证言，有 关副本材料或复印件与原件一致。 本所律师依据《中华人民共和国公司法》《中华人民共和国证券法》《上市 公司股东会规则》及其它相关法律、法规、规范性文件、深圳证券交易所（以下 简称"深交所"）规则及公司《章程》，并按照律师行业公认的业务标准、道德规 范及勤勉尽责精神，出具见证法律意见如下： 一、关于本次股东大会的召集和召开程序 本次股东大会由公司董 ...