Group 1 - The report highlights a significant increase in the State Grid's capital expenditure during the "14th Five-Year Plan" period, with a projected investment of approximately 4 trillion yuan during the "15th Five-Year Plan," representing a 40% increase compared to the previous plan [15][18][21] - The report recommends focusing on power engineering companies, specifically China Electric Power Construction, China Huadian Engineering, and China Energy Engineering, which are well-positioned to benefit from the increased capital expenditure [21][22] - The report emphasizes the importance of selecting companies with strong fundamentals and low valuations based on ROE and valuation percentiles, recommending firms such as China Chemical, China National Materials, and Donghua Technology [23][24] Group 2 - Weekly tracking indicates steady progress in coal chemical projects, with significant contract awards for the coal-to-natural gas project in Xinjiang, totaling over 15 billion yuan [28][29] - The hydrogen energy sector is gaining momentum, with government initiatives promoting zero-carbon factory construction and the launch of major projects like the Baowu Green Hydrogen Industrial Park, which has a total investment of 110.9 billion yuan [31][32] - The report notes a slight decline in steel prices, with average prices for medium-thick plates and rebar decreasing by 0.5% and 0.8% respectively, indicating a stable but low price environment [31]

Core Viewpoint - Yipuli Co., Ltd. has announced significant new contracts for 2025, indicating strong business activity in the blasting service and product sales sectors [1] Group 1: Contract Details - The total amount of new blasting service contracts signed by the company for 2025 is RMB 15.019 billion, with RMB 4.193 billion signed in the last quarter of the year [1] - The total amount of new product sales contracts signed for 2025 is RMB 5.436 billion, with RMB 0.465 billion signed in the last quarter [1] - A specific list of blasting service contracts exceeding RMB 1 billion each has been provided, totaling RMB 1.586 billion [1] Group 2: Financial Reporting - The contract amounts are based on the agreed service content and duration, and the final confirmed revenue amounts will be disclosed in periodic reports [1]

Group 1 - The core announcement from Yipuli indicates that the company has signed new contracts for blasting service projects totaling RMB 150.19 billion for 2025, with RMB 41.93 billion of these contracts signed in the last quarter of 2024 [2] - Additionally, the company has secured new contracts for product sales amounting to RMB 54.36 billion for 2025, with RMB 4.65 billion of these contracts also signed in the last quarter of 2024 [2]

Core Viewpoint - Yipule (002096.SZ) announced that the total amount of new contracts signed for blasting service projects in 2025 reached RMB 15.019 billion, indicating strong business growth in this sector [1] Group 1: Blasting Service Contracts - The total amount of new blasting service contracts signed for daily operations in 2025 is RMB 15.019 billion [1] - The amount of new blasting service contracts signed from October to December 2025 is RMB 4.193 billion [1] Group 2: Product Sales Contracts - The total amount of new product sales contracts signed for daily operations in 2025 is RMB 5.436 billion [1] - The amount of new product sales contracts signed from October to December 2025 is RMB 0.465 billion [1]

Core Viewpoint - Yipuli (002096) is actively engaging in major infrastructure projects in Tibet, such as the Yaxia Hydropower Station, demonstrating its commitment to fulfilling its responsibilities as a central enterprise and supporting national strategies [1] Group 1: Company Initiatives - The company has proactively established an industrial explosives production capacity of 30,000 tons in the Tibet region [1] - Yipuli has formed several subsidiaries, including the Tibet Engineering Company, Mozhujiangka Branch, Linzhi Branch, and Linzhi Research Station, to enhance its operational capabilities [1] - The company is leveraging its expertise as a civil explosives central enterprise to meet regional development needs and integrate into local economic construction [1] Group 2: Project Monitoring - Yipuli is continuously monitoring the progress of relevant projects and will provide updates through its designated information disclosure media [1]

Core Viewpoint - The company announced that its subsidiaries signed new contracts for blasting services and product sales, indicating strong business activity and growth potential for 2025 [1] Group 1: Blasting Services Contracts - The total amount of new blasting services contracts signed for daily operations in 2025 is RMB 150.19 billion [1] - From October to December 2025, the new blasting services contracts signed amount to RMB 41.93 billion [1] Group 2: Product Sales Contracts - The total amount of new product sales contracts signed for daily operations in 2025 is RMB 54.36 billion [1] - From October to December 2025, the new product sales contracts signed amount to RMB 4.65 billion [1]

证券代码：002096 证券简称：易普力 公告编号：2026-001 注：1.上表中"合同金额"是根据合同约定的服务内容及期限等测算得出的 数据，合计金额15.86亿元的爆破服务工程类项目均已经签署相关业务合作合同。 2.合同数据最终确认收入的金额及确认期间将以相关定期报告披露的数据为 准，敬请投资者注意投资风险。 易普力股份有限公司 2025年日常经营合同情况公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 本公司所属企业 2025 年新签的爆破服务工程类日常经营合同金额合计人民币 150.19 亿元，其中 10-12 月新签的爆破服务工程类日常经营合同金额合计人民币 41.93 亿元；2025 年新签的产品销售类日常经营合同金额合计人民币 54.36 亿 元，其中 10-12 月新签的产品销售类日常经营合同金额合计人民币 4.65 亿元。 2025 年 10-12 月新签的单笔合同金额在人民币 1 亿元以上的爆破服务工程施 工类日常经营合同如下： 易普力股份有限公司董事会 2026 年 1 月 15 日 2 特此公告。 1 单位：人民币亿元 序 号 合 ...

Core Viewpoint - The company "Yipuli" emphasizes its commitment to technological productivity and its mission to serve national strategies, showcasing its role in significant projects like the Three Gorges Water Conservancy Project [1] Group 1: Company Background and Mission - Founded in 1993, the company has consistently adhered to its responsibilities as a state-owned enterprise, participating deeply in major national strategic projects [1] - The name "Yipuli" reflects the company's vision of being easily accessible technology and its ambition to expand internationally [1] - The company aims to embody the spirit of "not easy to achieve," uphold the responsibilities of a state-owned enterprise, and pursue excellence in quality [1] Group 2: Technological Innovation and Industry Impact - Yipuli was the first to apply mixed explosives technology in hydropower construction, promoting technological upgrades and safety in the industry [1] - The company is committed to high-quality development and aims to build a world-class civil explosives enterprise [1] Group 3: Commitment to Global Development - Yipuli is dedicated to serving global energy and infrastructure development, contributing to the modernization of China and the creation of a beautiful world [1] - The company expresses its mission through the phrase "to write for mountains and rivers, to record for rivers and lakes, and to build new achievements for the times" [1]

中国国际金融股份有限公司 关于易普力股份有限公司 2025 年度持续督导现场检查报告 中国国际金融股份有限公司（以下简称"中金公司"、"独立财务顾问"）作为易 普力股份有限公司（以下简称"易普力"、"上市公司"或"公司"）发行股份购买资 产并募集配套资金暨关联交易的独立财务顾问及持续督导机构，根据《上市公司重大资 产重组管理办法》《上市公司并购重组财务顾问业务管理办法》《深圳证券交易所股票 上市规则》《深圳证券交易所上市公司自律监管指引第1号——主板上市公司规范运作》 等有关法律、法规和规范性文件的要求，中金公司于2025年12月18日对易普力进行了现 场检查，现将本次检查的情况报告如下： 一、本次现场检查的基本情况 （一）独立财务顾问 中国国际金融股份有限公司 （二）独立财务顾问主办人 谭笑、谭畔、翁嵩岚 （三）现场检查时间 2025 年 12 月 18 日 （四）现场检查人员 王思迈 （五）现场检查手段 现场检查人员查阅了持续督导期间的股东会、董事会、监事会（2025年6月取消） 会议文件和与会议相关的其他资料；查阅了公司相关制度文件和持续督导期间的信息披 1 露文件；与公司相关人员进行了沟通；了解了公司 ...

Group 1 - The core business of the company includes research, production, sales of civil explosives, integrated blasting services, and mining construction contracting, as well as green mine construction [1] - The company has stated that it does not engage in the fireworks business and has no plans to enter this market in the future according to its strategic development plan [1]