Core Viewpoint - The company, Ping An Electric (平安电工), emphasizes its competitive advantages in the mica insulation materials industry and outlines its strategic focus on technological contributions to the electric and thermal safety sectors, while addressing investor inquiries during its earnings presentation. Group 1: Competitive Advantages - Ping An Electric has over 30 years of experience in the mica insulation materials industry, with a comprehensive supply chain that allows for cost advantages and enhanced product competitiveness [2] - The company aims to bridge the market value gap with competitors like Zhejiang Rongtai (浙江荣泰) by leveraging its full industry chain layout and maintaining a focus on material-based products [2] Group 2: Profitability and Sales - The company's overseas sales exhibit significantly higher gross margins compared to domestic sales, attributed to established brand reputation and higher quality standards in foreign markets [3] - The company expects to maintain relatively high gross margins in overseas sales due to its competitive pricing and the barriers to entry for foreign suppliers [3] Group 3: Strategic Initiatives - Ping An Electric is focusing on high-temperature insulation materials and expanding into emerging fields such as solid-state batteries, energy storage systems, and deep-sea technology [4] - The company is enhancing its global supply chain integration and aims to become a leading provider of safety insulation system solutions [4] Group 4: Market Impact and Future Outlook - The new battery safety regulations are seen as an opportunity for the company, as they necessitate advancements in material safety and technology, positioning the company to lead in the electric vehicle sector [6] - The company is actively exploring overseas market expansion, particularly in Southeast Asia and Africa, to enhance production capacity and resource compliance [4] Group 5: Financial Performance - In the first quarter of 2025, Ping An Electric reported a main revenue of 259 million yuan, an 18.0% year-on-year increase, and a net profit of approximately 52.37 million yuan, reflecting a 22.69% increase [7] - The company's gross margin stands at 36.63%, indicating a solid profitability profile [7] Group 6: Analyst Predictions - Analysts predict a net profit of 273 million yuan for 2025, with expectations of growth to 341 million yuan in 2026 and 422 million yuan in 2027, with target prices ranging from 29.43 to 38.22 yuan [8]

Group 1: Company Overview and Competitive Advantage - The company has over 30 years of experience in the mica insulation materials industry and operates eight supporting factories across the entire industrial chain, maximizing cost advantages and enhancing product competitiveness [2][3] - The company positions itself as a materials-oriented product company, committed to contributing to the safe development of electricity and heat for humanity [2] Group 2: Profitability and Market Position - The gross margin for overseas sales is significantly higher than that of domestic sales due to established brand reputation and higher quality requirements for foreign products [3] - The company maintains a competitive edge in foreign markets, with a focus on mid-to-high-end products, which are expected to sustain higher gross margins in the long term [3] Group 3: Strategic Development and Technological Innovation - The company aims to contribute to global electric heating safety by focusing on high-temperature insulation material R&D and expanding into emerging fields such as solid-state batteries and deep-sea technology [4][5] - The company is enhancing its global supply chain integration and aims to become a leading provider of safe insulation system solutions [4] Group 4: Impact of External Factors - The company’s export sales ratio is increasing, reflecting recognition of product quality and market competitiveness, with minimal direct impact from tariffs currently assessed [5] - The company is expanding its overseas production capacity, particularly in Southeast Asia, to better serve global customers and adapt to market demands [5] Group 5: Future Plans and Shareholder Engagement - The company is considering stock incentive plans based on operational needs and is exploring diverse employee incentive mechanisms [6] - The company plans to distribute dividends within two months following the approval of the profit distribution proposal at the 2024 annual shareholders' meeting [6] Group 6: Regulatory Changes and Opportunities - The new battery safety regulations, deemed the "strictest ever," will drive technological upgrades and reshape the electric vehicle supply chain, emphasizing safety as a core requirement [6] - The company is developing a comprehensive solution for thermal runaway protection in electric vehicles, aiming for a multi-level safety approach [6]

Group 1 - The company, Hubei Ping An Electric Technology Co., Ltd., will participate in the "2025 Hubei Listed Companies Investor Collective Reception Day" to enhance interaction with investors [1][2] - The event is scheduled for June 12, 2025, from 14:00 to 16:40, and will be conducted remotely [1] - Key company executives, including the Vice General Manager and the Secretary of the Board, will address investor concerns regarding the company's 2024 performance, governance, development strategy, operational status, and sustainable development [1][2] Group 2 - Investors can participate in the event through the "Panjing Roadshow" website, WeChat public account, or by downloading the Panjing Roadshow APP [2] - The company encourages active participation from investors to discuss various topics, including financing plans and equity incentives [2]

证券代码：001359 证券简称：平安电工 公告编号：2025-016 一、活动的时间、方式 活动时间：2025 年 6 月 12 日（星期四）14:00-16:40 活动方式：网络远程方式 二、参加人员 公司董事、副总经理、董事会秘书李俊先生，财务负责人丁恨几先生，证券 事务代表魏嘉女士及有关部门人员将参与本次活动，就公司 2024 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。 湖北平安电工科技股份公司 关于参加湖北辖区上市公司 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。 为进一步加强与投资者的互动交流，湖北平安电工科技股份公司（以下简称 "公司"）将参加由湖北证监局、湖北省上市公司协会与深圳市全景网络有限公 司联合举办的"2025 年湖北辖区上市公司投资者集体接待日活动"，现将相关事 项公告如下： 湖北平安电工科技股份公司 董事会 2025 年 6 月 10 日 特此公告！ 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:// ...

Industry Overview - The insulation products industry in China has developed rapidly since the 1990s, establishing a comprehensive industrial system and becoming the largest insulation products market globally. The market size is projected to reach approximately 77.5 billion yuan in 2024, with a year-on-year growth of 2.79% [1][14]. - The industry has matured technologically, with leading companies capable of developing high-end insulation products, gaining competitive advantages in international markets [1][14]. Market Dynamics - The insulation products are essential components in electrical equipment and electronic devices, serving various functions such as mechanical support, heat dissipation, and moisture protection [3]. - The industry benefits from the rapid development of sectors like renewable energy, efficient energy-saving motors, and rail transportation, contributing to a relatively prosperous market environment [5]. Policy Environment - Recent policies have been introduced to support the insulation products industry, including the "Implementation Plan for Accelerating the Breakthrough of 'Six New' Manufacturing in Henan Province" and the "Implementation Plan for the Innovation and Development of the Fine Chemical Industry (2024-2027)" [5][7]. Industry Chain - The upstream of the insulation products industry includes raw materials such as phenol, formaldehyde, and epoxy resin, which are essential for production. The industry is moving towards high-quality and environmentally friendly production due to supply-side structural reforms [8][10]. - The downstream applications include generator manufacturing, power transmission, new energy vehicles, and electronic communications, with increasing demand driven by the national "dual carbon" goals [8][11]. Key Companies - Notable companies in the insulation products sector include Dongcai Technology, Huazheng New Materials, and Shunma Electric, among others. These companies are focusing on innovation and expanding their market presence [16][19][21]. - Dongcai Technology reported a revenue of 32.45 million yuan in the first quarter of 2024, while Huazheng New Materials achieved 28.24 million yuan in the same period [18]. Development Trends - The industry is expected to focus on technological innovation, particularly in high-performance and environmentally friendly insulation materials. Innovations such as nano-modification and composite insulation technologies are anticipated to gain traction [23][24]. - The shift towards green and sustainable practices is becoming a priority, with increasing demand for halogen-free and biodegradable insulation materials [24][25]. Conclusion - The insulation products industry in China is poised for growth, driven by technological advancements, supportive policies, and expanding applications across various sectors. The competitive landscape is evolving, with both international giants and domestic players striving for market share through innovation and quality improvements [16][23].

Industry Overview - The insulation materials are defined as materials that do not conduct electricity under permissible voltage but can conduct under certain electric field strengths. Their primary function is to isolate charged conductors in electrical equipment, allowing current to flow along specific paths while providing mechanical support and protection [1][11]. - Insulation materials are categorized into solid, liquid, and gas types, with solid materials further divided into organic and inorganic categories [2][3]. Industry Chain Analysis - The insulation materials industry chain consists of upstream raw materials (e.g., phenol, formaldehyde, epoxy resin), midstream production (solid, liquid, and gas insulation materials), and downstream applications in sectors like electrical infrastructure, new energy vehicles, and aerospace [5][8]. Industry Development History - The insulation materials industry in China has evolved through four stages: initial development, technology introduction, technology innovation, and the current phase of industrial upgrading driven by new energy [11][12]. Policy Background - Recent policies from various government departments aim to promote the development of high-efficiency and environmentally friendly insulation materials, supporting the industry's high-quality growth [14]. Current Industry Status - The number of bidding projects in the insulation materials sector has shown a fluctuating growth trend, peaking at 612 projects in 2023 [15]. - The financing activity in the insulation materials industry has increased, with a peak financing amount of 2.025 billion yuan in 2022 [15]. - The market size of the insulation materials industry in China grew from 86.4 billion yuan in 2018 to 120.6 billion yuan in 2023, with a compound annual growth rate of 6.9% [19]. Competitive Landscape - The insulation materials industry is concentrated in economically developed eastern coastal regions, particularly Guangdong and Jiangsu provinces [20]. - Major companies in the insulation materials sector include Shandong Glass Fiber, Dongcai Technology, and Yuxing Co., with revenues exceeding 1.8 billion yuan for Shandong Glass Fiber in 2023 [24]. Future Development Trends - The market size of insulation materials is expected to exceed 200 billion yuan by 2030, with a compound annual growth rate of 7.8% from 2025 to 2030 [26]. - The industry is trending towards high-end and environmentally friendly products, with a focus on enhancing product performance and providing comprehensive insulation system solutions [28].

证券代码：001359 证券简称：平安电工 公告编号：2025-015 湖北平安电工科技股份公司 2024 年年度股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1．本次股东大会由湖北平安电工科技股份公司（以下简称"公司"）第三 届董事会召集。召开本次2024年年度股东大会的通知已于2025年4月18日在公司 指定信息披露媒体上予以公告。所有议案已在本次股东大会通知公告中列明， 相关议案内容已依法披露； （一）会议的召开情况 1．会议召集人：公司第三届董事会 2．会议主持人：董事长潘协保先生 3．会议召开的合法、合规性： 公司于2025年4月16日召开了第三届董事会第六次会议，会议决定于2025年 5月8日召开公司2024年年度股东大会。会议召集、召开程序符合有关法律、行 政法规、部门规章、规范性文件和《公司章程》的有关规定。 4．会议召开的日期、时间： （1）现场会议召开时间：2025年5月8日14:30。 2．本次股东大会无否决提案的情形； 3．本次股东大会不涉及变更前次股东大会决议。 一、会议的召开和出席情况 （2）网络投票 ...

北京德恒（深圳）律师事务所 关于湖北平安电工科技股份公司 2024 年年度股东大会的 法律意见 深圳市福田区金田路 4018 号安联大厦 B 座 11 楼 电话:0755-88286488 传真:0755-88286499 邮编:518026 北京德恒（深圳）律师事务所 关于湖北平安电工科技股份公司 2024年年度股东大会的法律意见 北京德恒（深圳）律师事务所 关于湖北平安电工科技股份公司 2024 年年度股东大会的 法律意见 德恒 06G20240188-00006 号 致：湖北平安电工科技股份公司 湖北平安电工科技股份公司（以下简称"公司"）2024 年年度股东大会（以 下简称"本次会议"）于 2025 年 5 月 8 日（星期四）召开。北京德恒（深圳）律 师事务所（以下简称"德恒"）受公司委托，指派徐帅律师、孙静曲律师（以下简 称"德恒律师"）出席了本次会议。根据《中华人民共和国证券法》（以下简称"《证 券法》"）、《中华人民共和国公司法》（以下简称"《公司法》"）、中国证券 监督管理委员会《上市公司股东会规则》（以下简称"《股东会规则》"）等法律、 行政法规、部门规章、规范性文件和《湖北平安电工科技股 ...

中信证券股份有限公司 关于湖北平安电工科技股份公司 2024 年度持续督导定期现场检查报告 | 保荐人名称：中信证券股份有限公司 被保荐公司简称：平安电工 | | | | | --- | --- | --- | --- | | （以下简称"中信证券"或"保荐人"） | | | | | 保荐代表人姓名：柳小杰 | 联系电话：027-85355073 | | | | 保荐代表人姓名：彭捷 | | 联系电话：010-60833022 | | | 现场检查人员姓名：柳小杰 | | | | | 现场检查对应期间：2024 | | | 年 1 月 1 日-2024 年 12 月 31 日 | | （一）公司治理 是 否 不适用 | | | | | 现场检查手段： | | | | | 高级管理人员名单及其变化情况，取得上市公司关联方清单，查阅关于公司控股 | | | | | 股东、实际控制人、董事、监事、高级管理人员的信息披露文件及相关变更决策 | | | | | 文件，查看上市公司生产经营场所，对上市公司董事长、董事会秘书进行访谈。 | | | | | 2.公司章程和三会规则是否得到有效执行 是 | | | | | 3. ...

中信证券股份有限公司 公司存在募投项目延期事项。公司结合发展战略、产业布局、市场需求变化 及募投项目进展情况，将"武汉生产基地项目"、"通城生产基地项目"及"新材 料研发中心项目"达到预定可使用状态的时间均延期至 2026 年 12 月，该事项已 经公司第三届董事会第五次会议、第三届监事会第五次会议和 2025 年第一次临 时股东大会审议通过。 保荐机构提请公司关注募集资金使用和募投项目实施进度，做好募投项目相 关信息披露工作，及时、充分地揭示相关风险，切实保护投资者利益。 附件：《中信证券股份有限公司关于湖北平安电工科技股份公司 2024 年度持 续督导定期现场检查报告》 （以下无正文） 年度持续督导工作现场检查结果及提请公司注意事项》之签章页） 保荐人：中信证券股份有限公司（盖章） 年 月 日 关于湖北平安电工科技股份公司2024年持续督导工作现场检查 结果及提请公司注意事项 湖北平安电工科技股份公司： 中信证券股份有限公司（以下简称"本保荐人"）作为对贵公司进行持续督 导的保荐人，按照《深圳证券交易所上市公司自律监管指引第 13 号——保荐业 务》的有关要求，对贵公司认真履行了持续督导职责。 基于 20 ...