Core Viewpoint - The clean energy market, particularly wind power, has significant growth potential, and the company aims to leverage policy and market opportunities to enhance its competitive business structure and provide effective clean energy solutions [1][2][3] Company Strategy - The company has transitioned from land development to the clean energy sector, adopting a dual-driven strategy focusing on wind turbine mixed towers and new energy development [2][3] - The company emphasizes a long-term approach, avoiding short-term gains and focusing on steady project implementation [1][3] Market Trends - The global trend towards larger wind turbines is accelerating, with increasing demand for mixed tower solutions due to their structural advantages [2][3] - The wind power market is entering a technology-driven profitability phase, with mixed towers recognized as a primary solution for high tower structures [3][6] Business Development - The company is actively expanding its new energy development business, focusing on wind and solar projects throughout their entire lifecycle [3][5] - Recent acquisitions include a 50MW wind power project in Hebei and a 50MW integrated source-grid-load-storage project in Henan [3][5] Competitive Advantages - The company possesses significant competitive advantages in the mixed tower business, including strong understanding of the wind power industry, quality control, and cost management [6][7] - The company is enhancing its research and development capabilities to build technical barriers and improve core competitiveness in mixed tower solutions [3][6] Project Achievements - The company has received approval for a 300,000 kW integrated source-grid-load-storage project in Inner Mongolia, with an investment of 1.3 billion yuan [7] - This project is expected to significantly reduce carbon emissions and enhance the utilization of clean energy, contributing approximately 230 million yuan in revenue and 70 million yuan in profit annually [7][8] Future Outlook - The company plans to focus on high-load industries and leverage integrated source-grid-load-storage projects to enhance revenue and profit levels [8]

New Stock Issuance - YouSheng Co., Ltd. (Securities Code: 732418) issued shares at a price of 46.36 RMB on September 12, 2025[1] - *ST Tianmao (Securities Code: 000627) has a cash option declaration period from September 15 to September 19, 2025[1] - *ST Zitian (Securities Code: 300280) enters the delisting arrangement period starting September 15, 2025[1] Trading Alerts - Hangke Technology (Securities Code: 688006) reported severe abnormal fluctuations on September 11, 2025[1] - Shanghai Electric Power (Securities Code: 600021) had a trading volume of 8,487 on September 10, 2025[1] - Tianji Co., Ltd. (Securities Code: 002759) reported a trading volume of 8,705 on September 10, 2025[1] Abnormal Fluctuations - ST Lingnan (Securities Code: 002717) reported a trading volume of 7,965 on September 10, 2025[3] - ST Huaxi (Securities Code: 002630) reported a trading volume of 9,579 on September 11, 2025[3] - ST Jianye (Securities Code: 600381) reported a trading volume of 5,420 on September 3, 2025[3]

Core Viewpoint - Hezhang Energy's stock price dropped by 6.59% with a trading volume of 3.62 billion yuan and a turnover rate of 12.88% on the day, indicating significant market activity and investor sentiment shifts [2] Trading Performance - The stock experienced a daily price deviation of -9.14%, leading to its listing on the Shenzhen Stock Exchange's watchlist [2] - Institutional investors net sold 8.33 million yuan, while total net selling from brokerage seats reached 29.11 million yuan [2] Market Activity - The top five brokerage seats accounted for a total transaction volume of 92.60 million yuan, with buying amounting to 27.58 million yuan and selling at 65.02 million yuan, resulting in a net selling of 37.44 million yuan [2] - Among the brokerage seats, two institutional specialized seats were involved, with a total buying amount of 0.82 million yuan and selling amount of 9.15 million yuan, leading to a net selling of 8.33 million yuan [2] Fund Flow - The stock saw a net outflow of 30.02 million yuan in main funds, with large orders contributing to a net outflow of 19.33 million yuan and big orders at 10.68 million yuan [2] - Over the past five days, the main funds experienced a slight net inflow of 0.18 million yuan [2]

Core Viewpoint - Hezhang Energy announced that its stock experienced an abnormal fluctuation, with a cumulative closing price increase of 21.75% over two consecutive trading days from September 9 to September 10, 2025 [2]. Summary by Sections - Stock Performance - The stock price of Hezhang Energy showed a cumulative increase of 21.75% over two trading days, indicating significant market activity [2]. - Company Disclosure - The company confirmed that there are no corrections or supplements needed for previously disclosed information [2]. - Hezhang Energy did not identify any recent media reports that could have significantly impacted its stock price with undisclosed major information [2].

辽宁和展能源集团股份有限公司 股票交易异常波动公告 辽宁和展能源集团股份有限公司（以下简称"公司"）股票（证券简称：和 展能源；证券代码：000809）于 2025 年 9 月 9 日-10 日连续 2 个交易日收盘价 格涨幅偏离值累计达到 21.75%，根据《深圳证券交易所股票交易规则》，属于股 票交易异常波动的情况。 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。 证券代码：000809 证券简称：和展能源 公告编号：2025-043 一、股票交易异常波动的情况介绍 二、公司关注并核实的情况 针对公司股票交易异常波动，公司进行了核查，并就有关事项问询了公司控 股股东和实际控制人，现将核查情况说明如下： 1.公司前期披露的信息不存在需要更正、补充之处。 2.公司未发现近期公共传媒报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息。 3.近期公司经营情况及内外部经营环境未发生重大变化。 4.公司及控股股东、实际控制人不存在关于本公司应披露而未披露的重大事 项或处于筹划阶段的重大事项。 5.股票异常波动期间，公司控股股东、实际控制人未买卖公司股票 ...

Market Performance - On September 10, the real estate development sector rose by 0.44% compared to the previous trading day, with Shouke Co. leading the gains [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] Top Gainers in Real Estate Sector - Shouke Co. (600376) closed at 4.68, with a gain of 10.12% and a trading volume of 1.9874 million shares, amounting to a transaction value of 909 million yuan [1] - Suning Universal (000718) closed at 2.74, up 10.04%, with a trading volume of 1.5715 million shares [1] - Hezhan Energy (000809) closed at 3.64, gaining 9.97%, with a trading volume of 1.3357 million shares [1] - Wolong New Energy (600173) closed at 8.39, up 9.96%, with a trading volume of 1.4224 million shares [1] Other Notable Stocks - ST Rongkong (000668) closed at 9.77, with a gain of 5.05% [1] - ST Zhongdi (000609) closed at 4.82, up 4.56% [1] - Fuxing Co. (000926) closed at 3.32, gaining 3.75% [1] Market Capital Flow - The real estate development sector experienced a net outflow of 1.213 billion yuan from major funds, while retail investors saw a net inflow of 1.149 billion yuan [2] - Speculative funds had a net inflow of 64.198 million yuan [2]

证券日报网讯8月29日晚间，和展能源（000809）发布公告称，截至目前，公司及控股子公司无逾期担 保、涉及诉讼的担保及因被判决败诉而应承担的担保情况。 ...

证券代码：000809 证券简称：和展能源 公告编号：2025-042 辽宁和展能源集团股份有限公司 关于为全资子公司提供担保的进展公告 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。 特别提示： 本次担保为公司对资产负债率超过 70%的全资子公司提供的担保，敬请投资 者关注担保风险。 一、担保情况概述 为满足业务发展需要，辽宁和展能源集团股份有限公司（以下简称"公司"） 二级全资子公司辽宁昌和风电设备有限公司（以下简称"昌和风电"）向上海浦 东发展银行股份有限公司铁岭分行（以下简称"浦发银行"）申请不超过人民币 8,000 万元授信。2025 年 6 月 30 日，公司与浦发银行签署《最高额保证合同》， 公司为昌和风电向浦发银行在 2025 年 6 月 25 日至 2026 年 6 月 24 日期间内办理 各类融资业务以本金余额最高不超过人民币 5,000 万元为限提供连带责任保证 担保，公司对债权发生期间内各单笔借款合同项下分期履行的还款义务承担保证 责任，保证期间为自每笔债权合同债务履行期届满之日起至该单笔合同最后一期 还款期限届满之日后三年。 2025 ...

Core Insights - Hezhang Energy reported an increase in revenue and a reduction in losses for the first half of 2025, with total operating revenue reaching 11.51 million yuan, up 11.92% year-on-year, and a net profit attributable to shareholders of -35.42 million yuan, improving by 33.43% compared to the previous year [1] Financial Performance - Total operating revenue for Q2 2025 was 10.71 million yuan, reflecting a significant year-on-year increase of 43.74% [1] - The net profit attributable to shareholders for Q2 2025 was -20.81 million yuan, an improvement of 18.79% year-on-year [1] - The gross margin was reported at -107.99%, a decrease of 309.52% year-on-year, while the net margin improved to -307.7%, an increase of 49.56% [1] - Total expenses (selling, administrative, and financial) amounted to 18.86 million yuan, representing 163.83% of revenue, a decrease of 71.13% year-on-year [1] Cash Flow and Assets - Cash and cash equivalents increased significantly to 98.5 million yuan, up 804.99% year-on-year [1] - Accounts receivable rose to 61.64 million yuan, a 153.19% increase compared to the previous year [1] - Interest-bearing liabilities decreased to 253 million yuan, down 61.99% year-on-year [1] Shareholder Metrics - The net asset value per share was reported at 3.26 yuan, a slight decrease of 2.91% year-on-year [1] - Earnings per share improved to -0.04 yuan, an increase of 32.81% year-on-year [1] - Operating cash flow per share was reported at 0.01 yuan, a significant increase of 110.32% year-on-year [1] Business Evaluation - The company's historical return on invested capital (ROIC) has been poor, with a median of -0.76% over the past decade and a worst year in 2024 at -2.58% [3] - The company has reported losses in 11 out of 36 annual reports since its listing, indicating a generally unfavorable investment outlook [3] Debt and Cash Flow Analysis - The company has a healthy cash position, but attention is needed on cash flow, as the average operating cash flow over the past three years has been -4.37% relative to current liabilities [3] - Financial expenses have been a concern, with negative net cash flow from operating activities over the past three years [3] - The accounts receivable situation is also critical, given the negative net profit attributable to shareholders [3]

Core Viewpoint - Hezhan Energy is actively transitioning towards renewable energy and related supporting businesses, focusing on clean energy project development, construction, and operation, with mixed tower business as a key development direction [1][2] Group 1: Financial Performance - In the first half of 2025, Hezhan Energy achieved operating revenue of 11.5097 million yuan, representing a year-on-year increase of 11.92% [1] - The net profit attributable to shareholders of the listed company was a loss of 35.4158 million yuan, significantly reducing losses compared to the previous year [1] Group 2: Mixed Tower Business - The mixed tower business faced delays in production and delivery due to project location conditions and buyer model adjustments, resulting in no sales revenue from mixed tower equipment in the first half of the year [1] - A total of 25 mixed tower products were produced in the first half, with expected deliveries starting in the third quarter [1] - The company signed new mixed tower sales orders worth 177 million yuan during the reporting period [1] Group 3: New Energy Development - Hezhan Energy is advancing its new energy development business by optimizing development strategies and focusing on key areas and projects [2] - The company successfully acquired a 50MW centralized wind power project, expected to generate approximately 32 million yuan in annual revenue [2] - The company is also progressing with a 50MW source-grid-load-storage integration project in Henan, planning to start construction in September and achieve power generation by the end of December, with an expected annual sales revenue of about 50 million yuan [2] - Progress has been made on the electric magnesium sand and related source-grid-load-storage integration project in Inner Mongolia [2]