证券代码：002028 证券简称：思源电气 公告编号：2025-023 思源电气股份有限公司 2024 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。无董事不能保证公告内容真实、准确、完整。 特别提示： 1、本次股东大会无否决议案的情形。 2、本次股东大会没有涉及变更前次股东大会决议的情形。 一、会议召开和出席情况 （一）会议召开情况 1、召开时间： （1）现场会议召开时间：2025年6月13日(星期五) 14:00 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间：2025年6月13 日9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统进行网络投 票的时间：2025年6月13日9:15至2025年6月13日15:00期间的任意时间。 2、会议地点：上海市闵行区都会路3799号 星河湾酒店 天王星会议室 3、会议召开方式：现场投票和网络投票相结合的方式。 4、会议召集人、主持人：本次会议由公司董事会召集，董事长董增平先生主持。 本次会议的召集、召开程序及表决方式符合有关法律、 ...

证券代码：002028 证券简称：思源电气 公告编号：2025-022 思源电气股份有限公司 关于回购股份事项前十名股东和前十名无限售条件股东 持股情况的公告 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。 思源电气股份有限公司（下称"公司"）于 2025年5月15日召开的第八届董事会第二十 次会议上审议通过了《关于回购公司股份方案的决议》，具体内容详见公司于 2025 年 5 月 17日在巨潮资讯网（www.cninfo.com.cn）披露的《关于回购公司股份方案的公告》。 根据《上市公司股份回购规则》、《深圳证券交易所上市公司自律监管指引第9号—回 购股份》等相关规定，现将公司2024年年度股东大会股权登记日（即2025年6月5日）登记在 册的前十名股东和前十名无限售条件股东的名称、持股数量及持股比例情况公告如下： | 序号 | 股东名称 | 持股数量（股） | 占公司总股本比 | | --- | --- | --- | --- | | | | | 例（%） | | 1 | 香港中央结算有限公司 | 146,575,217 | 18.83% | | 2 | ...

证券代码：002028 证券简称：思源电气 公告编号：2025-021 思源电气股份有限公司 关于回购股份事项前十名股东和前十名无限售条件股东 持股情况的公告 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。 思源电气股份有限公司（下称"公司"）于 2025年5月15日召开的第八届董事会第二十 次会议上审议通过了《关于回购公司股份方案的决议》，具体内容详见公司于 2025 年 5 月 17日在巨潮资讯网（www.cninfo.com.cn）披露的《关于回购公司股份方案的公告》。 1 / 2 | 9 | MORGAN STANLEY & CO. INTERNATIONAL PLC. | 7,228,966 | 0.93% | | --- | --- | --- | --- | | 10 | 中国工商银行股份有限公司－华夏沪深300交易型开 | 5,884,368 | 0.76% | | | 放式指数证券投资基金 | | | 二、 前十名无限售条件股东持股情况 | 序号 | 股东名称 | 持股数量（股） | 占无限售条件股 | | --- | --- | --- | ...

Group 1: Financial Performance - In 2024, the company achieved operating revenue of 15.458 billion yuan, a year-on-year increase of 24.06%, and a net profit attributable to shareholders of 2.049 billion yuan, up 31.42% year-on-year [1] - For Q1 2025, the company reported operating revenue of 3.227 billion yuan, a year-on-year increase of 21.41%, and a net profit of 446 million yuan, reflecting a year-on-year growth of 22.91% [1] - The company exceeded its annual operational targets for 2024, with actual new orders of 21.457 billion yuan, a year-on-year increase of 29.94%, surpassing the target by 4% [1] Group 2: Market Strategy - The company is focusing on deepening its presence in the domestic market while accelerating breakthroughs in overseas markets, achieving domestic operating revenue of 12.336 billion yuan in 2024, a year-on-year increase of 19.74% [2] - The overseas market saw significant growth, with operating revenue of 3.122 billion yuan in 2024, representing a year-on-year increase of 44.67% [2] - The company has successfully developed multiple products in international markets, including the UK, Italy, Saudi Arabia, and Kuwait, and has achieved various product certifications [2] Group 3: Research and Development - The company invested 1.11 billion yuan in R&D in 2024, a year-on-year increase of 21.07%, accounting for 7.18% of operating revenue [2] - New product developments, such as supercapacitors, are expected to contribute to future growth, with significant progress in automotive power supply projects and applications in power systems [2] Group 4: Profit Forecast and Valuation - The company has raised its profit forecast, expecting operating revenues of 18.817 billion yuan, 22.894 billion yuan, and 27.538 billion yuan for 2025-2027, with year-on-year growth rates of 21.7% for each year [3] - Projected net profits for 2025-2027 are 2.631 billion yuan, 3.288 billion yuan, and 4.096 billion yuan, with year-on-year growth rates of 28.4%, 25.0%, and 24.6% respectively [3] - The expected EPS for 2025-2027 is 3.38 yuan, 4.22 yuan, and 5.26 yuan per share, with corresponding PE ratios of 23, 18, and 15 times [3]

Core Viewpoint - The company, Siyuan Electric (002028.SZ), announced a share buyback plan of no less than 300 million yuan and no more than 500 million yuan, signaling confidence in its future development [2][5]. Group 1: Share Buyback Details - The buyback will utilize self-owned funds and aims to reduce registered capital by canceling the repurchased shares [4]. - This marks the first time Siyuan Electric has repurchased shares since its IPO in 2004, with a cumulative stock price increase of over 77 times since then [2][6]. - The buyback price will not exceed 109.45 yuan per share, with an estimated repurchase quantity ranging from approximately 274,100 shares (0.35% of total shares) to 456,830 shares (0.58% of total shares) [4][7]. Group 2: Financial Performance - Siyuan Electric's net profit attributable to shareholders has grown from 295 million yuan in 2018 to 2.049 billion yuan in 2024, nearly a sixfold increase over six years [8][10]. - The company reported a revenue of 15.458 billion yuan and a net profit of 2.049 billion yuan in 2024, reflecting a year-on-year growth of 24.06% and 31.42%, respectively [10]. - In the first quarter of this year, the company achieved revenues of 3.227 billion yuan and a net profit of 446 million yuan, with year-on-year growth rates of 21.41% and 22.91% [11]. Group 3: Company Overview and Innovation - Founded in December 1993, Siyuan Electric specializes in power technology research and development, equipment manufacturing, and engineering services, focusing on the power distribution and transmission industry [9]. - The company has invested significantly in R&D, with expenditures increasing from 556 million yuan in 2021 to 1.11 billion yuan in 2024, totaling 3.256 billion yuan over four years [10]. - Siyuan Electric holds 897 authorized patents, including 327 invention patents, and emphasizes continuous investment in technology and human capital to maintain its competitive edge [10].

Group 1 - Folaite intends to reduce shareholdings by four shareholders due to personal financial needs, with a total reduction of up to 800,000 shares, accounting for 0.6% of the company's total shares [1] - Siyi Electric plans to repurchase shares worth between RMB 300 million and RMB 500 million to reduce registered capital, with a maximum repurchase price of RMB 109.45 per share, potentially affecting 274,100 to 456,830 shares, or 0.35% to 0.58% of total equity [2] - Jiejia Weichuang's controlling shareholder and associated parties plan to reduce holdings by up to 173,400 shares and 617,100 shares through various methods, primarily due to personal financial needs, with a total reduction of up to 0.78% of total shares [3] Group 2 - The share reduction by Folaite may have a short-term impact on the market despite the small percentage [1] - The repurchase by Siyi Electric reflects confidence in the company's value and aims to enhance shareholder equity [2] - Jiejia Weichuang's share reduction is not expected to significantly impact the company's long-term development, but may influence the market in the short term [3]

Investment Rating - The report maintains an "Outperform" rating for the electric equipment and new energy industry [1]. Core Insights - The reduction of tariffs between China and the US is expected to benefit new energy exports, with optimistic growth in photovoltaic demand from the US and emerging economies [1]. - The report emphasizes the importance of cost reduction and efficiency improvement in photovoltaic manufacturing, focusing on the optimization of leading companies in silicon materials and battery cells [1]. - The wind power sector is anticipated to see steady progress in domestic and overseas demand, with a positive outlook for profitability recovery in the complete machine and component segments by 2025 [1]. - The government’s push for smart connected new energy vehicles is expected to sustain high sales growth throughout the year, driving demand for batteries and materials [1]. - The report highlights the ongoing industrialization of solid-state batteries, with mass production expected by 2027, benefiting companies involved in batteries, materials, and equipment [1]. - Continuous promotion of hydrogen energy development is noted, with recommendations to focus on companies with cost and technological advantages in electrolyzer production and hydrogen infrastructure [1]. Summary by Sections Industry Performance - The electric equipment and new energy sector rose by 1.39% this week, outperforming the Shanghai Composite Index, which increased by 0.76% [10]. - The photovoltaic sector saw a significant increase of 2.96%, while the wind power sector experienced a decline of 0.58% [13]. Key Industry Information - In April 2025, China's new energy vehicle sales reached 1.226 million units, a year-on-year increase of 44.2%, accounting for 47.3% of total new car sales [24]. - The battery alliance reported a total of 54.1 GWh of power batteries installed in April, with a month-on-month decrease of 4.3% [24]. - The US-China trade talks resulted in a significant reduction in bilateral tariffs, which is expected to positively impact exports in photovoltaic, lithium battery, and energy storage sectors [24]. Company Developments - CATL has set the final price for its H-share issuance at HKD 263 per share, with plans for listing on May 20, 2025 [27]. - Canadian Solar has adjusted its 2025 component shipment target to 25-30 GW, down from the previous estimate of 30-35 GW [27]. - Several companies, including Sanyuan Electric and Igor, are engaging in stock repurchase plans and other strategic financial maneuvers [27].

Group 1 - The Ministry of Commerce has issued the third batch of best practice cases for the national service industry expansion pilot, focusing on replicable and promotable experiences for service industry development [1] - The best practices include 11 innovative measures across three areas: industrial ecosystem construction, international cooperation, and regional collaboration [1] - The measures reflect collaborative openness and integrated innovation in key industries such as culture, technology, and healthcare [1] Group 2 - The State Administration for Market Regulation is soliciting public opinions on the revised draft regulations to curb the abuse of administrative power that restricts competition [2] - The National Bureau of Statistics reported that the average annual salary for urban non-private and private sector employees in 2024 will be CNY 124,110 and CNY 69,476, respectively [2] Group 3 - The Ministry of Finance and the Financial Regulatory Bureau have announced a push for the digitalization of bank confirmations to enhance efficiency and security [3] - The notification emphasizes the importance of increasing the number of entities accessing the bank confirmation platform [3] Group 4 - The Ministry of Commerce and the National Development and Reform Commission have revised the "Catering Industry Promotion and Management Measures," adding provisions to encourage international cooperation and digital development [4] - The revised measures include 25 articles aimed at promoting high-quality development in the catering industry [4] Group 5 - The State-owned Assets Supervision and Administration Commission announced personnel changes in 10 central enterprises, including leadership appointments and removals [5][6] Group 6 - The China Securities Regulatory Commission encourages private equity funds to participate in mergers and acquisitions of listed companies, with adjustments to lock-up periods for investments [7] - The Shenzhen Stock Exchange is monitoring stocks with abnormal price fluctuations, including "ST Yushun" and "ST Jiajia" [8] Group 7 - The Shenzhen Stock Exchange will host the 2025 Global Investor Conference to showcase the investment value of Chinese assets and the A-share market [9] Group 8 - The Ministry of Industry and Information Technology is accelerating the development of 5G-A and 6G technologies to support modern industrial systems [13] - The National Data Bureau aims for the core value added of the digital economy to exceed 10% of GDP by the end of 2025 [14] Group 9 - The Ministry of Industry and Information Technology reported that China has built the world's largest and most advanced information and communication network, with 5G applications covering 86 of 97 national economic categories [15] Group 10 - Binhai Energy plans to acquire 100% equity of Cangzhou Xuyang Chemical Co., Ltd., with the stock expected to resume trading on May 19, 2025 [17] - The automotive industry is set to benefit from a significant release of funds due to a recent reserve requirement ratio cut, potentially exceeding CNY 1 trillion [18] Group 11 - Xiaomi's President revealed that products using the self-developed "Xuanjie" chip will extend beyond smartphones [21] - Huamin Co. and Tiantai Robotics signed a strategic cooperation agreement to advance the robotics industry [21] Group 12 - Xiangzi High-Tech announced the sale of an 80% stake in Heilongjiang Yunfeng Automobile Co., Ltd. for CNY 24.6 million, aiming to restructure its fuel vehicle business [22] - ST Kexin has successfully removed its delisting risk warning and will change its stock name to Kexin Development [23] Group 13 - *ST Aonong has received approval to remove its delisting risk warning, with its stock name changing to Aonong Biological [24][25] - Jianghan New Materials plans to repurchase shares worth CNY 200 million to CNY 400 million [26] Group 14 - Siyuan Electric intends to repurchase shares worth CNY 300 million to CNY 500 million [27] - Liren Lizhuang reported that products containing "Mikang Sulfur" have a minimal impact on overall business performance [28] Group 15 - Jinhe Biological's controlling shareholder plans to reduce its stake by up to 3% [29] - Guanghui Energy announced the transfer of 15.03% of its shares to two insurance companies [30] Group 16 - Tailing Microelectronics reported a reduction in the National Big Fund's shareholding to 6.95% [31] - AVIC High-Tech plans to invest CNY 918 million to enhance its capabilities in aviation composite materials [32]

证券代码：002028 证券简称：思源电气 公告编号：2025-018 思源电气股份有限公司 关于召开2024年度股东大会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。无董事不能保证公告内容真实、准确、完整。 思源电气股份有限公司（下称"公司"）第八届董事会第二十次会议于2025年5月15日 审议通过了《关于提请召开公司2024年度股东大会的议案》，现就召开公司2024年度股东大 会（下称"本次股东大会"）的有关事项通知如下： 一、召开会议基本情况 1、股东大会届次：2024年度股东大会 2、股东大会的召集人：公司董事会。公司第八届董事会第二十次会议决议召开2024年 度股东大会。 3、会议召开的合法、合规性：本次股东大会会议召开符合有关法律、行政法规、部门 规章、规范性文件和公司章程的相关规定。 4、会议召开的时间 （1）现场会议召开时间：2025年6月13日(星期五)14:00 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间：2025年6月13 日9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所 ...

证券代码：002028 证券简称：思源电气 思源电气股份有限公司 Sieyuan Electric Co., Ltd. 2024 年度股东大会资料 | 思源电气股份有限公司 2024 年度股东大会须知 3 | | --- | | 议案一：2024 年度董事会工作报告 4 | | 议案二：2024 年度监事会工作报告 8 | | 议案三：2024 年度财务决算报告 9 | | 议案四：2024 年度利润分配预案 14 | | 议案五：2024 年年度报告和 2024 年年度报告摘要 15 | | 议案六：关于续聘会计师事务所的议案 16 | | 议案七：关于修订《公司章程》的议案 19 | | 议案八：关于为控股子公司银行融资提供担保的议案 20 | | 议案九：关于回购公司股份的议案 21 | 思源电气股份有限公司 2024 年年度股东大会资料 思源电气股份有限公司 2024 年度股东大会须知 公司决定于 2025 年 6 月 13 日(星期五)召开 2024 年度股东大会，股东大会现场会议召开时间： 2025 年 6 月 13 日(星期五)14:00，现场会议召开地点在上海市闵行区都会路 3799 号 星河 ...