Group 1 - Shenzhen Kelu Electronics Technology Co., Ltd. and Midea Weiling Motor Technology (Shanghai) Co., Ltd. have obtained a patent titled "Energy Storage System and New Energy System," with authorization announcement number CN119447584B, applied on November 2024 [1] - Shenzhen Kelu Electronics Technology Co., Ltd. was established in 1996, located in Shenzhen, primarily engaged in the manufacturing of instruments and meters, with a registered capital of 1.660816688 billion RMB [1] - Kelu Electronics has invested in 65 companies, participated in 2,589 bidding projects, holds 32 trademark registrations, 1,607 patents, and possesses 315 administrative licenses [1] Group 2 - Midea Weiling Motor Technology (Shanghai) Co., Ltd. was founded in 2011, located in Shanghai, primarily engaged in technology promotion and application services, with a registered capital of 10 million RMB [1] - Midea Weiling has participated in 23 bidding projects, holds 1,234 patents, and has 9 administrative licenses [1]

Core Viewpoint - Kelu Electronics has shown significant stock performance with a year-to-date increase of 77.70%, despite recent declines in the last five and twenty trading days [1][2]. Financial Performance - For the period from January to September 2025, Kelu Electronics achieved a revenue of 3.586 billion yuan, representing a year-on-year growth of 23.42%. The net profit attributable to shareholders was 232 million yuan, marking a substantial increase of 251.10% [2]. Stock Market Activity - As of November 24, Kelu Electronics' stock price was 7.73 yuan per share, with a trading volume of 1.81 billion yuan and a turnover rate of 1.70%. The total market capitalization stood at 12.838 billion yuan [1]. - The stock has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on October 27, where it recorded a net buy of -104 million yuan [1]. Shareholder Information - As of September 30, 2025, Kelu Electronics had 75,000 shareholders, an increase of 7.23% from the previous period. The average number of circulating shares per shareholder was 18,664, a decrease of 6.74% [2][3]. - The third-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 57.6314 million shares, which increased by 35.0651 million shares compared to the previous period [3]. Business Segments - Kelu Electronics' main business segments include energy storage (49.83% of revenue), smart grid (48.74%), property (0.91%), and comprehensive energy management and services (0.43%) [2].

Core Viewpoint - The company has not signed a contract for the Saudi Red Sea New City project and is actively monitoring market dynamics and customer needs while seeking opportunities in related fields [2] Company Summary - The company announced on November 21 that it has not yet signed a contract for the Saudi Red Sea New City project [2] - The company is closely observing market trends and customer demands [2] - The company is actively looking for opportunities in relevant sectors [2]

Group 1 - The company announced that its Bright Smart Energy Industrial Park was tentatively transferred to fixed assets in May 2023 [2] - A portion of the assets from the industrial park has already been leased out [2]

Core Viewpoint - The company has recently established a new subsidiary, Anqing Kelu Energy Storage Technology Co., Ltd., to engage in energy storage-related business activities [2]. Group 1 - The announcement was made on November 21, indicating the company's strategic move into the energy storage sector [2].

Core Viewpoint - The company is focusing on global expansion, independent research and development, and lean services to enhance its domestic and international market presence [1] Domestic Market Strategy - The company is targeting strategic clients such as state-owned enterprises and central enterprises in the domestic market [1] - It aims to promote project implementation through strategic binding and ecosystem co-construction [1] International Market Strategy - The company is pursuing a differentiated approach in overseas markets, particularly in the Americas and Europe [1] - It is building localized teams that integrate sales, technology, and services to better meet customer needs and facilitate business implementation [1] - The company is also focusing on penetrating the Asia-Pacific and Middle East-Africa markets by forming regional marketing teams and collaborating with local partners to establish market recognition and channel networks [1]

Core Viewpoint - Kelu Electronics (002121) announced on November 21 that it is conducting orderly production and scheduling according to customer requirements, and stakeholders are advised to monitor the company's periodic reports for specific operational conditions [1] Group 1 - The company is responding to customer demands in its production processes [1] - Stakeholders are encouraged to pay attention to the company's regular reports for detailed operational insights [1]

Core Viewpoint - The company is actively tracking overseas market opportunities and is making relevant business arrangements [1] Group 1 - The company announced on November 21 that it is continuously monitoring overseas market opportunities [1] - The company is committed to making appropriate business layouts in response to these opportunities [1]

Core Viewpoint - The company is focusing on its core business and actively expanding its domestic and international energy storage market [1] Group 1 - The company announced on November 21 that it is concentrating on its main operations [1] - The company is making significant efforts to explore the energy storage market both domestically and internationally [1] - Stakeholders are advised to pay attention to the company's related announcements and periodic reports for specific order details [1]

Core Viewpoint - The company, Kelu Electronics (002121), announced on November 21 that it will provide updates on its operational status through regular reports, responding to inquiries from investors [1]. Group 1 - The company emphasized the importance of monitoring its periodic reports for insights into its business performance [1].