证券代码:002270 证券简称:华明装备 公告编号：〔2025〕060 号 华明电力装备股份有限公司 关于 2025 年半年度利润分配预案的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、审议程序 1、2025 年 8 月 7 日，华明电力装备股份有限公司（以下简称"公司"）第 七届董事会第四次会议审议通过了《关于公司 2025 年半年度利润分配的预案》， 并同意将该议案提交公司 2025 年第二次临时股东大会审议。 2、2025 年 8 月 7 日，公司第七届监事会第二次会议审议通过了《关于公 司 2025 年半年度利润分配的预案》，监事会认为：此议案符合相关法律、法规 的要求及《公司章程》的相关规定，未侵犯公司及股东利益，符合公司发展需 求，并同意将该议案提交公司 2025 年第二次临时股东大会审议。 3、本议案尚需提交公司 2025 年第二次临时股东大会审议。 二、利润分配预案的基本情况 1、本次利润分配方案的分配基准为 2025 年半年度。 公司拟定 2025 年半年度利润分配预案为：公司拟以本次董事会审议时，公 司总股本 896,225, ...

格隆汇8月7日丨华明装备(002270.SZ)公布2025年半年度报告，上半年公司实现营业收入11.21亿元，同 比增长0.04%；归属于上市公司股东的净利润3.68亿元，同比增长17.17%；归属于上市公司股东的扣除 非经常性损益的净利润3.61亿元，同比增长22.76%；基本每股收益0.4118元；拟向全体股东每10股派发 现金红利2.00元(含税)。 ...

人民财讯8月7日电，华明装备（002270）8月7日晚间披露2025年半年度报告，公司上半年实现营业收入 11.21亿元，同比增长0.04%；归母净利润3.68亿元，同比增长17.17%；基本每股收益0.41元。公司拟每 10股派发现金红利2元(含税)。 ...

华明装备公告，2025年上半年营业收入11.21亿元，同比增长0.04%。净利润3.68亿元，同比增长 17.17%。公司拟向全体股东每10股派发现金红利2元（含税）。 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=第一节%20重要提示、目录和释义) This section includes the company's assurance of report accuracy and completeness, along with the approved profit distribution plan [Important Notice](index=2&type=section&id=重要提示) The company's board and management assure the report's accuracy and completeness, and approved a cash dividend of 2.00 yuan per 10 shares - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the report's content and assume legal responsibility[3](index=3&type=chunk) - The company plans to distribute a cash dividend of **2.00 yuan (tax inclusive) per 10 shares** to all shareholders, based on the total share capital after deducting repurchased shares, with no bonus shares or capital reserve conversions[3](index=3&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=第二节%20公司简介和主要财务指标) This section provides an overview of the company's listing information and its key financial performance metrics [Company Profile](index=6&type=section&id=公司简介) Huaming Power Equipment Co., Ltd. (stock code: 002270) is a company listed on the Shenzhen Stock Exchange, with Xiao Yi as its legal representative Company Information | Item | Content | | :--- | :--- | | **Stock Abbreviation** | Huaming Equipment | | **Stock Code** | 002270 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Company Name** | Huaming Power Equipment Co., Ltd. | | **Legal Representative** | Xiao Yi | [Key Accounting Data and Financial Indicators](index=7&type=section&id=主要会计数据和财务指标) In H1 2025, revenue remained stable at 1.12 billion yuan, net profit attributable to shareholders increased by 17.17% to 368 million yuan, while net cash flow from operating activities significantly decreased by 35.28% Key Financial Data | Indicator | Current Period | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Billion Yuan) | 1.121 | 1.121 | 0.04% | | Net Profit Attributable to Shareholders (Million Yuan) | 368.49 | 314.50 | 17.17% | | Net Profit Attributable to Parent (Excluding Non-recurring Items) (Million Yuan) | 361.32 | 294.34 | 22.76% | | Net Cash Flow from Operating Activities (Million Yuan) | 317.76 | 490.94 | -35.28% | | Basic Earnings Per Share (Yuan/Share) | 0.4118 | 0.3509 | 17.36% | | Weighted Average Return on Net Assets | 10.87% | 8.77% | 2.10% | | Total Assets (Billion Yuan) | 4.555 | 4.458 | 2.18% | - Total non-recurring gains and losses for the period amounted to **7.16 million yuan**, primarily comprising **18.44 million yuan** in government grants and a **15.54 million yuan** loss from the disposal of subsidiary equity[21](index=21&type=chunk)[22](index=22&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=第三节%20管理层讨论与分析) This section details the company's operational performance, core business segments, competitive advantages, financial position, and risk management strategies [Main Business Overview](index=9&type=section&id=一、报告期内公司从事的主要业务) The company's core business is power equipment, specifically transformer tap changers, complemented by new energy power station engineering and CNC equipment, holding a leading market position domestically and globally - The company's core business is power equipment, specifically **transformer tap changers**, supplemented by power engineering (new energy power station contracting) and CNC machine tool businesses[25](index=25&type=chunk) - The company is a leading enterprise in the domestic tap changer market, ranking **first in sales scale domestically and second globally**, continuously expanding into high-end and overseas markets[32](index=32&type=chunk) - Performance is primarily driven by global energy structure transformation, grid investment growth, and overseas demand for transformers[33](index=33&type=chunk) [Core Competitiveness Analysis](index=11&type=section&id=二、核心竞争力分析) The company's core competitiveness stems from its industry-leading UHV technology, full-产业链 production capabilities, advanced quality assurance, and leadership in national and industry standard setting - The company possesses **UHV tap changer manufacturing technology**, breaking foreign monopolies, with products achieving mass sales and application in key national projects[34](index=34&type=chunk)[35](index=35&type=chunk) - The company has **full-产业链 production capabilities** from raw material manufacturing to finished product assembly, with **80% of parts processed in-house**, supported by two major production bases in Shanghai and Zunyi[35](index=35&type=chunk) - The company has led or participated in drafting multiple national and industry standards for tap changers and CNC equipment, demonstrating its technological authority[42](index=42&type=chunk)[44](index=44&type=chunk) [Main Business Analysis](index=13&type=section&id=三、主营业务分析) In H1 2025, total revenue slightly increased by 0.04% to 1.12 billion yuan, driven by a 15.29% growth in power equipment and 41.49% in CNC equipment, offsetting an 87.1% decline in power engineering, leading to a 17.17% rise in net profit attributable to parent Operating Revenue by Business Segment | Business Segment | Operating Revenue (Billion Yuan) | YoY Growth Rate | | :--- | :--- | :--- | | **Power Equipment** | 0.959 | 15.29% | | - Of which: Total Overseas Exports | 0.311 | 45.21% | | **CNC Equipment** | 0.111 | 41.49% | | **Power Engineering** | 0.024 | -87.10% | | **Total** | **1.121** | **0.04%** | Key Financial Indicators and Changes | Financial Indicator | Current Period (Billion Yuan) | YoY Growth Rate | Reason for Change | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 1.121 | 0.04% | Business structure changes, growth in power equipment and CNC equipment, decline in power engineering | | **Operating Cost** | 0.499 | -14.78% | Primarily due to increased proportion of high-margin power equipment business and decreased scale of low-margin power engineering business | | **Financial Expenses** | -0.025 | 144.55% | Primarily due to foreign currency appreciation and reduced interest expenses | | **Net Profit Attributable to Parent** | 0.368 | 17.17% | Primarily driven by increased revenue from power equipment business and economies of scale | Operating Revenue and Gross Margin by Region | Regional Segment | Operating Revenue (Billion Yuan) | Gross Margin | Gross Margin YoY Change | | :--- | :--- | :--- | :--- | | **Domestic** | 0.913 | 55.25% | +9.80% | | **International** | 0.208 | 56.57% | -6.65% | [Analysis of Assets and Liabilities](index=16&type=section&id=五、资产及负债状况分析) As of the reporting period end, total assets grew 2.18% to 4.55 billion yuan, with accounts receivable significantly increasing to 19.38% of total assets due to unexpired settlement periods, while the asset-liability ratio remained healthy at 29.92% - Accounts receivable as a percentage of total assets significantly increased from **11.37%** at the end of the prior year to **19.38%**, primarily due to unexpired settlement periods for accounts receivable[61](index=61&type=chunk) - As of the reporting period end, the company had **137 million yuan** in restricted assets, mainly comprising bank acceptance, letter of guarantee deposits, and bill pool business pledges[64](index=64&type=chunk) [Major Asset and Equity Sales](index=19&type=section&id=七、重大资产和股权出售) During the reporting period, the company sold 100% equity of its wholly-owned subsidiary Guizhou Changzheng Electric Co., Ltd. for 1 million yuan, with no significant impact on overall operations - On May 12, 2025, the company sold **100% equity** of Changzheng Electric to Shanghai Xinjiahe Industrial Co., Ltd. for **1 million yuan**, with the equity transfer fully completed[70](index=70&type=chunk) [Risks and Countermeasures](index=20&type=section&id=十、公司面临的风险和应对措施) The company addresses risks such as international uncertainties, market fluctuations, exchange rate volatility, and rising labor costs through global market diversification, hedging tools, supply chain management, and automation upgrades - The company faces geopolitical risks, including international political landscape adjustments and China-US trade frictions, which it will address by expanding into different regional markets and enhancing product competitiveness[73](index=73&type=chunk) - With an increasing proportion of international business, the company faces exchange rate fluctuation risks for currencies like USD and EUR, which will be managed through foreign exchange hedging tools[74](index=74&type=chunk) - The company faces risks from rising labor costs and expanding scale, which it will mitigate by advancing production line technological upgrades, automation, and optimizing management processes[76](index=76&type=chunk) [Corporate Governance, Environment, and Society](index=21&type=section&id=第四节%20公司治理、环境和社会) This section outlines the company's corporate governance practices, including its profit distribution plan and employee incentive programs [Profit Distribution Plan](index=22&type=section&id=二、本报告期利润分配及资本公积金转增股本情况) The company proposed a H1 2025 profit distribution plan of a **2.00 yuan (tax inclusive) cash dividend per 10 shares**, totaling approximately **176 million yuan**, with no bonus shares or capital reserve conversions Profit Distribution Details | Distribution Plan | Details | | :--- | :--- | | **Dividend Per 10 Shares** | 2.00 yuan (tax inclusive) | | **Bonus Shares Per 10 Shares** | 0 shares | | **Capital Reserve Conversion** | Not Applicable | | **Total Cash Dividend** | 176.48 million yuan | | **Distributable Profit** | 385.17 million yuan | [Equity Incentives and Employee Stock Ownership](index=22&type=section&id=三、公司股权激励计划、员工持股计划或其他员工激励措施的实施情况) The company approved the 2025 Employee Stock Ownership Plan to align employee and shareholder interests and enhance competitiveness, though it had not been granted or registered by the reporting period end - The company plans to implement a **2025 employee stock ownership plan** to improve the profit-sharing mechanism and motivate employees, with the relevant proposal approved by the general meeting of shareholders on May 16, 2025[81](index=81&type=chunk) [Significant Matters](index=24&type=section&id=第五节%20重要事项) This section details significant legal proceedings, related party transactions, and major contracts impacting the company [Litigation Matters](index=40&type=section&id=八、诉讼事项) Former subsidiary Changzheng Electric is involved in a major lawsuit for a 277 million yuan loan guarantee, a pre-acquisition undisclosed liability, with the subsidiary now divested and no longer consolidated - Former subsidiary Changzheng Electric is being sued for a **277 million yuan** loan dispute, with a request for joint and several guarantee liability[106](index=106&type=chunk) - This guarantee occurred before the company's acquisition of Changzheng Electric and was not truthfully disclosed by the original shareholders; the company completed the sale of Changzheng Electric in May 2025, after which it is no longer included in the company's consolidated financial statements[106](index=106&type=chunk) [Significant Related Party Transactions](index=41&type=section&id=十一、重大关联交易) Significant related party transactions during the period primarily involved property leases from Shanghai Huaming Industrial Electrical Technology Co., Ltd. and Shen Qiongxian, totaling **7.80 million yuan** in rent, conducted at market rates and within annual limits - The company engaged in property lease transactions with related parties Shanghai Huaming Industrial Electrical Technology Co., Ltd. and Shen Qiongxian, with total rent paid amounting to **7.80 million yuan** during the current period[109](index=109&type=chunk)[118](index=118&type=chunk) [Major Contracts and Their Performance](index=43&type=section&id=十二、重大合同及其履行情况) The company provided significant guarantees to subsidiaries, with an outstanding balance of **440 million yuan** (13.92% of net assets), and reported progress on a 2016 solar power plant EPC contract, which has achieved **582 million yuan** in cumulative output value and **425 million yuan** in cumulative collections Guarantee Status | Guarantee Status | Amount (Million Yuan) | | :--- | :--- | | **Approved Guarantee Limit for Subsidiaries During Reporting Period** | 1,500 | | **Approved Guarantee Limit for Subsidiaries as of Reporting Period End** | 2,137.5 | | **Actual Guarantee Balance for Subsidiaries as of Reporting Period End** | 440.34 | | **Actual Total Guarantee as Percentage of Company's Net Assets** | 13.92% | - The company's Nanyang Neixiang Solar Power Plant EPC General Contract, signed in 2016 (contract value **642 million yuan**), has achieved cumulative output value of **582 million yuan** and cumulative collections of **425 million yuan** as of the reporting period end[126](index=126&type=chunk) [Share Changes and Shareholder Information](index=48&type=section&id=第六节%20股份变动及股东情况) This section details changes in the company's share capital structure and provides an overview of its major shareholders [Share Changes](index=48&type=section&id=一、股份变动情况) During the period, the company's total share capital remained at **896 million shares**, with **137 million restricted shares** becoming unrestricted, and a share repurchase program has acquired **13.82 million shares** for **221 million yuan** - During the reporting period, **137 million restricted shares** from non-public offerings were released, converting into unrestricted shares[132](index=132&type=chunk)[137](index=137&type=chunk) - The company is executing a share repurchase plan, having repurchased **13,820,809 shares** through centralized bidding as of July 31, 2025, representing **1.5421%** of total share capital, with a total transaction value of **221 million yuan**[135](index=135&type=chunk) [Shareholder Information](index=50&type=section&id=三、公司股东数量及持股情况) As of the reporting period end, the company had **24,816 common shareholders**, with the top two shareholders and their concerted parties holding **43.53%**, and Hong Kong Securities Clearing Company Limited as the third largest with **17.44%** Top Shareholders | Shareholder Name | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | | Shanghai Huaming Power Equipment Group Co., Ltd. | 28.25% | 253,144,534 | | Hong Kong Securities Clearing Company Limited | 17.44% | 156,346,371 | | Shanghai Huaming Power Development Co., Ltd. | 15.28% | 136,986,301 | | **Top Two Shareholders (Concerted Parties) Total** | **43.53%** | **390,130,835** | [Financial Report](index=55&type=section&id=第八节%20财务报告) This section presents the company's unaudited consolidated and parent company financial statements, along with detailed notes on key items [Financial Statements](index=55&type=section&id=二、财务报表) This section presents the company's unaudited consolidated and parent company financial statements for H1 2025, including the balance sheet, income statement, cash flow statement, and statement of changes in owner's equity - The company's semi-annual financial report is **unaudited**[148](index=148&type=chunk) Consolidated Balance Sheet Summary (2025-06-30) | Item | Period-End Balance (Billion Yuan) | Period-Start Balance (Billion Yuan) | | :--- | :--- | :--- | | **Total Assets** | 4.555 | 4.458 | | **Total Liabilities** | 1.363 | 1.276 | | **Equity Attributable to Parent Company Owners** | 3.164 | 3.166 | Consolidated Income Statement Summary (H1 2025) | Item | Current Period Amount (Billion Yuan) | Prior Period Amount (Billion Yuan) | | :--- | :--- | :--- | | **Total Operating Revenue** | 1.121 | 1.121 | | **Operating Profit** | 0.413 | 0.359 | | **Total Profit** | 0.428 | 0.383 | | **Net Profit** | 0.374 | 0.318 | | **Net Profit Attributable to Parent Company Shareholders** | 0.368 | 0.315 | [Notes to Consolidated Financial Statement Items](index=97&type=section&id=七、合并财务报表项目注释) This section provides detailed explanations for key consolidated financial statement items, noting a **77.8% increase in accounts receivable**, a **16.3% rise in inventory**, and a **50% decrease in short-term borrowings**, alongside **440 million yuan** in outstanding guarantees to subsidiaries - Accounts receivable at period-end amounted to **1.077 billion yuan**, a significant increase from **718 million yuan** at the beginning of the period, with **75.7%** of balances due within one year[307](index=307&type=chunk)[308](index=308&type=chunk) - Inventory at period-end was valued at **446 million yuan**, a **16.3% increase** from **384 million yuan** at the beginning of the period, primarily due to increases in raw materials and work-in-progress[372](index=372&type=chunk) - Short-term borrowings at period-end totaled **60.01 million yuan**, a **50% decrease** from **120 million yuan** at the beginning of the period[459](index=459&type=chunk)

华明电力装备股份有限公司 信息披露管理制度 第一章 总则 第一条 为了进一步规范华明电力装备股份有限公司（以下简称 "公司"）信息披露工作的管理，保护公司股东、债权人及其他利 益相关人的合法权益，提高公司信息披露质量，促使公司信息披露 规范化，根据《中华人民共和国公司法》（以下简称"《公司 法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司信息披露管理办法》《深圳证券交易所股票上市规则》 （以下简称"《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》（以下简称"《规范 运作指引》"）等法律、法规、规范性文件以及本公司章程的有关 规定，结合公司的实际情况，特制定本制度。 第二条 公司从事对公司股票及其衍生品种交易价格可能产生 重大影响的行为或发生对公司股票及其衍生品种交易价格可能产生 重大影响的事件的信息披露、保密，适用本制度。 第二章 信息披露的基本原则和一般规定 第三条 信息披露义务人应当及时依法履行信息披露义务，披露 的信息应当真实、准确、完整，简明清晰、通俗易懂，不得有虚假 记载、误导性陈述或者重大遗漏。 信息披露义务人披露的信息应当同时 ...

华明电力装备股份有限公司 董事会审计委员会实施细则 （2025年8月修订） 第一章 总则 第一条 为强化董事会决策功能，做到事前审计、专业审计，确保 董事会对经理层的有效监督，完善公司治理结构，根据《中华人民共和 国公司法》《公司章程》等规定，制定本实施细则。 第二条 董事会审计委员会是董事会按照股东会决议设立的专门工 作机构；主要负责公司内、外部审计的沟通、监督和核查工作。 （二）聘用或者解聘承办公司审计业务的会计师事务所； 第二章 人员组成 第三条 审计委员会由三至五名成员组成，独立董事应当过半数并 担任召集人，至少有一名独立董事为会计专业人士。审计委员会成员 应当为不在公司担任高级管理人员的董事，且应当具备履行审计委员 会工作职责的专业知识和经验。 第四条 审计委员会委员由董事长、二分之一以上独立董事或者全 体董事的三分之一提名，并由董事会选举产生。 第五条 审计委员会设主任委员一名，由独立董事担任，负责主持 委员会工作。主任委员在委员内选举，并报请董事会批准产生。 第六条 审计委员会任期与董事会一致，委员任期届满，连选可以 连任。期间如有委员不再担任公司董事职务，自动失去委员资格，并由 委员会根据上述 ...

华明电力装备股份有限公司 子公司管理制度 （2025 年 8 月） 第一章 总则 第一条 为加强华明电力装备股份有限公司（以下简称"公司"、 "本公司"）对子公司的管理，建立有效的管控与整合机制，促进子 公司规范运作，有序健康发展，提高公司整体运作效率和抗风险能力， 切实维护公司和投资者合法权益，根据《公司法》《证券法》《深圳证 券交易所股票上市规则》等法律、法规、规范性文件以及公司章程的 有关规定，结合公司的实际情况，特制定本制度。 第二条 本制度所称子公司是指公司根据总体产业构架及业务发 展需要而投资设立的具有独立法人资格主体的公司，包括全资子公司、 控股子公司和参股子公司三类。 （一）全资子公司，指公司投资且在该子公司中持股比例为 100%。 （二）控股子公司，指公司与其他公司或自然人共同出资设立的， 公司控股 50%以上，或未达到 50%但能够决定其董事会半数以上成员 的组成，或者通过协议或其他安排等方式实际控制的公司。 （三）参股子公司，指公司在该子公司中持股比例不超过 50%（含 50%），且公司在该子公司的经营与决策活动中不具有控制性影响的公 司。 本制度所称子公司除特别说明外均指全资子公司、控 ...

华明电力装备股份有限公司 外部信息报送和使用管理规定 （2025年8月） 第一条 为加强公司定期报告及重大事项在编制、审议和披露期间， 公司外部信息报送和使用管理，依据《中华人民共和国公司法》、《中华 人民共和国证券法》、《华明电力装备股份有限公司公司章程》、《华 明电力装备股份有限公司内幕信息知情人登记管理制度》等有关规定， 制定本办法。 第二条 公司的董事和高级管理人员应当遵守信息披露内控制度的 要求，对公司定期报告及重大事项履行必要的传递、审核和披露流程。 第三条 公司的董事和高级管理人员及其他相关涉密人员在定期报 告编制、公司重大事项筹划期间，负有保密义务。定期报告、临时报告公 布前，不得以任何形式、任何途径向外界或特定人员泄漏定期报告、临 时报告的内容，包括但不限于业绩座谈会、分析师会议、接受投资者调 研座谈等方式。 第四条 对于无法律法规依据的外部单位年度统计报表等报送要求， 公司应拒绝报送。 第六条 公司应将报送的相关信息作为内幕信息，并书面提醒报送 的外部单位相关人员履行保密义务。 第七条 外部单位或个人不得泄漏依据法律法规报送的本公司未公 开重大信息，不得利用所获取的本公司未公开重大信息买卖 ...

第一章 总则 第一条 为维护华明电力装备股份有限公司（以下简称"公司"） 公司股东合法权益，明确股东会的职责权限，保证股东会依法行使职权， 根据《中华人民共和国公司法》（以下简称"《公司法》"）和《华明 电力装备股份有限公司章程》（以下简称"公司章程"）以及国家的相 关法律、法规及规范性文件的规定，制定本规则。 第二条 公司应当严格按照法律、法规、公司章程及本规则的相关 规定召开股东会，保证股东能够依法行使权利。公司董事会应当切实履 行职责，认真、按时组织股东会。公司全体董事应当勤勉尽责，确保股 东会正常召开和依法行使职权。 第三条 股东会是公司的权力机构，应当在《公司法》等相关法律、 法规和规范性文件以及公司章程规定的范围内依法行使下列职权： 华明电力装备股份有限公司 股东会议事规则 （2025 年 8 月修订） （一）选举和更换董事，决定有关董事的报酬事项； （二）审议批准董事会的报告； （五）对发行公司债券作出决议； 1 （六）对公司的合并、分立、解散、清算及变更公司形式作出决议； （七）修改公司章程； （八）对公司聘用、解聘承办公司审计业务的会计师事务所作出决 议； （九）审议批准公司章程第 46 条 ...