关于控股股东部分股份解除质押及质押的公告 关于控股股东部分股份解除质押及质押的公告 公司控股股东金誉集团保证向本公司提供的信息内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 广州智光电气股份有限公司（以下简称"公司"）于近日收到公司控股股东 广州市金誉实业投资集团有限公司（以下简称"金誉集团"）函告，其所持有本 公司部分股份在国泰海通证券股份有限公司办理了部分股份质押回购后，重新办 理了部分股份质押。具体事项如下： 二、本次股东部分股份新增质押情况 证券代码：002169 证券简称：智光电气 公告编号：2025069 广州智光电气股份有限公司 | | 是否为第一 | 质押股数 | 占其所持 | 占 | 公 司 | 总 | 质押开始 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | 大股东及一 | （股） | 股份比例 | 股 | 本 比 | 例 | 日期 | 质押到期日 | 质权人 | 用途 | | | 致行动 ...

Core Viewpoint - The number of shareholders for Zhiguang Electric has decreased for the second consecutive period, indicating a potential decline in investor interest [2] Shareholder Information - As of November 20, the number of shareholders is 58,560, a decrease of 3,575 from the previous period, representing a decline of 5.75% [2] - This marks the second consecutive decline in the number of shareholders [2] Stock Performance - The latest stock price for Zhiguang Electric is 7.73 yuan, reflecting an increase of 0.52% [2] - Since the concentration of shares began, the stock price has cumulatively decreased by 13.53%, with 3 days of increase and 8 days of decrease [2] Financing Data - As of November 24, the margin trading balance for the stock is 304 million yuan, with the financing balance also at 304 million yuan [2] - The financing balance has decreased by 107 million yuan during the current concentration period, representing a decline of 26.00% [2] Financial Performance - For the first three quarters, the company achieved operating revenue of 2.507 billion yuan, a year-on-year increase of 32.03% [2] - The net profit for the same period was -51.2658 million yuan, showing a year-on-year increase of 63.67% [2] - The basic earnings per share is reported at -0.0663 yuan [2]

Core Viewpoint - The stock price of Zhiguang Electric has been declining for seven consecutive days, with a total drop of 12.47% during this period, leading to a current price of 7.53 CNY per share and a market capitalization of 5.894 billion CNY [1] Company Overview - Zhiguang Electric, established on April 9, 1999, and listed on September 19, 2007, is located in Huangpu District, Guangzhou, Guangdong Province. The company specializes in the research, production, and sales of cables, as well as comprehensive energy-saving services, electrical products, and electricity services [1] - The main business revenue composition is as follows: digital energy technology and products account for 82.39%, while comprehensive energy services contribute 17.61% [1] Fund Holdings - According to data, one fund under Everbright Pramerica holds Zhiguang Electric as its second-largest position. The Everbright Pramerica Chengxin Mixed A Fund (003115) held 21,800 shares in the third quarter, representing 1.08% of the fund's net value [2] - The fund has experienced a floating loss of approximately 8,720 CNY today, with a total floating loss of 24,600 CNY during the seven-day decline [2] Fund Performance - The Everbright Pramerica Chengxin Mixed A Fund (003115) was established on December 15, 2016, with a current scale of 3.6051 million CNY. Year-to-date, it has achieved a return of 42.75%, ranking 1213 out of 8136 in its category. Over the past year, the return is 42.52%, ranking 967 out of 8056, and since inception, the return is 98.03% [2]

Core Viewpoint - The company, Zhiguang Electric, has reported a significant improvement in its operational performance and quality from Q1 to Q3 of the current year, and is striving to achieve better annual targets [1] Group 1 - The entire management team and employees of the company are focused on enhancing operational performance and quality [1] - The company is currently making efforts to achieve better annual goals [1]

Core Viewpoint - There are significant payment risks associated with collaboration with the Adani Group, particularly due to ongoing payment disputes and legal issues [1] Group 1: Payment Disputes - The Adani Group is currently facing a long-standing payment deadlock with its core power cooperation project in Bangladesh, with outstanding electricity payments and late fees amounting to $800 million [1] Group 2: Credibility and Legal Issues - The Adani Group's credibility has been severely damaged, leading to financing and performance risks, as they and key members are facing a lawsuit in the U.S. for alleged bribery and securities fraud amounting to $265 million in 2024 [1] Group 3: Company Response - The company, Zhiguang Electric (SZ002169), has stated that it has not entered into any actual cooperation with the Adani Group [1]

Core Viewpoint - The company places significant emphasis on expanding its overseas market presence, having established a representative office in Italy this year and is currently following up on multiple projects [1] Group 1 - The company has completed the establishment of its representative office in Italy this year [1] - Multiple projects are currently being pursued in the overseas market [1]

格隆汇11月17日丨智光电气(002169.SZ)在投资者互动平台表示,公司非常重视海外市场拓展，本年度完 成意大利代表处设立，多个项目正在跟进中。 ...

Core Insights - The electric power operation and maintenance (O&M) market in China is experiencing rapid growth, with the market size projected to increase from 5.42 billion yuan in 2017 to 48.83 billion yuan in 2024, representing a compound annual growth rate (CAGR) of 27.67% [1][9] - The industry is transitioning towards intelligent, automated, and visualized operation and maintenance practices, driven by advancements in big data, cloud computing, IoT, and artificial intelligence [1][9] - The increasing complexity of power systems and the need for high reliability and efficiency are pushing the industry to adopt new technologies and improve operational standards [1][9] Industry Overview - Electric power operation and maintenance (O&M) involves systematic management of power lines, equipment, and supply systems to ensure safe and stable operation [3] - Key activities include equipment inspection, maintenance, fault handling, data monitoring, safety management, and user support [3] Market Growth - The market size for electric power O&M in China is expected to grow significantly, from 5.42 billion yuan in 2017 to 48.83 billion yuan in 2024, with a CAGR of 27.67% [1][9] - The investment in power construction has also increased, with the total investment in power construction rising from 270 billion yuan in 2017 to 1,168.7 billion yuan in 2024, a CAGR of 23.28% [6][7] Policy Support - The electric power O&M sector has received increased attention from the government, with various regulations and guidelines aimed at promoting standardization, professionalism, and intelligence in the industry [5] - Recent policies include the establishment of a database for major accident hazards and the promotion of intelligent inspection systems [5][6] Industry Chain - The electric power O&M industry chain consists of three main segments: upstream equipment manufacturing, midstream O&M service integration, and downstream application by power generation companies [6] - Collaboration between equipment manufacturers and power generation companies is deepening, driving the evolution of O&M systems towards greater intelligence and efficiency [6] Key Companies - Notable companies in the electric power O&M sector include Zhiguang Electric, Guodian NARI, and Siyuan Electric, among others [2][10] - These companies are leveraging innovative technologies in intelligent monitoring and data analysis to enhance their market competitiveness [10] Future Trends - The industry is expected to evolve towards greater intelligence, with the integration of big data, AI, and digital twin technologies to create smart O&M platforms [13] - Automation will reshape operational models, with drones and robots gradually replacing traditional manual operations [14] - Green development will become a core focus, emphasizing low-carbon practices and the integration of renewable energy sources [15][16]

Core Viewpoint - The stock of Zhiguang Electric has experienced fluctuations, with a year-to-date increase of 40.36% but a recent decline of 5.75% over the past five trading days [1][2]. Company Overview - Zhiguang Electric, established on April 9, 1999, and listed on September 19, 2007, is located in Guangzhou, Guangdong Province. The company specializes in cable research, production, and sales, as well as comprehensive energy services and electrical products [1]. - The main revenue composition of Zhiguang Electric includes 82.39% from digital energy technology and products, and 17.61% from comprehensive energy services [1]. Financial Performance - For the period from January to September 2025, Zhiguang Electric achieved an operating income of 2.507 billion yuan, representing a year-on-year growth of 32.03%. However, the net profit attributable to shareholders was -51.2658 million yuan, showing a year-on-year increase of 63.67% in losses [2]. - Since its A-share listing, Zhiguang Electric has distributed a total of 627 million yuan in dividends, with 220 million yuan distributed over the past three years [3]. Shareholder Information - As of October 31, 2025, the number of shareholders of Zhiguang Electric was 64,100, reflecting a slight increase of 0.11% from the previous period. The average circulating shares per person decreased by 0.11% to 11,838 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 10.471 million shares, which is an increase of 195,200 shares compared to the previous period [3]. Market Activity - On November 14, Zhiguang Electric's stock price fell by 2.07%, trading at 8.52 yuan per share with a total transaction volume of 39.0431 million yuan and a turnover rate of 0.60%. The total market capitalization is 6.669 billion yuan [1]. - The stock has appeared on the trading leaderboard once this year, with the most recent appearance on October 17, where it recorded a net buy of -25.4584 million yuan [1].

Core Viewpoint - The company intends to acquire all or part of the minority equity of its subsidiary, Guangzhou Zhiguang Energy Storage Technology Co., Ltd., through a combination of issuing shares and cash payment, while also raising matching funds through share issuance [2] Group 1 - The company has actively promoted the transaction since the disclosure of the plan for issuing shares and cash to purchase assets and raise matching funds [2] - As of the date of the announcement, due diligence, auditing, and evaluation related to the transaction have not yet been completed [2] - The company will convene a board meeting to review the formal plan and related matters after the completion of the relevant work, and will submit it for shareholder approval [2]