Group 1 - The core point of the article is that Beijing Keri (SZ 002350) reported a significant increase in its half-year performance for 2025, with a revenue of approximately 938 million yuan, reflecting a year-on-year growth of 23.1% [2] - The net profit attributable to shareholders of the listed company is reported at 16.99 million yuan [2] - The basic earnings per share (EPS) is recorded at 0.033 yuan [2]

北京科锐公告，2025年半年度营业总收入9.38亿元，同比增长23.10%；净利润1699.14万元，同比增长 243.46%。公司积极开拓新能源等行业市场业务，优化营销策略，持续加强成本管理，优化产品结构， 使得本报告期综合毛利率较上年同期有所提升。 ...

[Key Financial Data and Indicators for the First Half of 2025](index=1&type=section&id=Item%20I.%20Key%20Financial%20Data%20and%20Indicators%20for%20the%20First%20Half%20of%202025) The company's financial performance for the first half of 2025 shows significant profit growth and a stable asset base Key Financial Data and Indicators for the First Half of 2025 (Unit: RMB 10,000) | Item | Current Period | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 93,780.59 | 76,184.06 | 23.10% | | Operating Profit | 2,593.71 | -964.78 | 368.84% | | Total Profit | 2,677.11 | -1,003.42 | 366.80% | | Net Profit Attributable to Shareholders of Listed Company | 1,699.14 | -1,184.40 | 243.46% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 1,535.47 | -1,052.29 | 245.92% | | Basic Earnings Per Share (RMB) | 0.0330 | -0.0224 | 247.31% | | Weighted Average Return on Net Assets | 1.03% | -0.70% | 1.73% | | **Item** | **End of Current Period** | **Beginning of Current Period** | **Change (%)** | | Total Assets | 288,097.15 | 289,042.86 | -0.33% | | Total Equity Attributable to Shareholders of Listed Company | 163,753.29 | 168,893.00 | -3.04% | | Share Capital (10,000 shares) | 54,233.14 | 54,233.14 | 0.00% | | Net Assets Per Share Attributable to Shareholders of Listed Company (RMB) | 3.02 | 3.11 | -2.89% | - During the reporting period, the company's total operating revenue increased by **23.10%** year-on-year, with operating profit, total profit, and net profit attributable to shareholders of the listed company all achieving substantial growth of **368.84%**, **366.80%**, and **243.46%** respectively, successfully turning losses into profits[4](index=4&type=chunk) - Total assets and total equity attributable to shareholders of the listed company slightly decreased by **0.33%** and **3.04%** respectively[4](index=4&type=chunk) [Explanation of Operating Performance and Financial Position](index=2&type=section&id=Item%20II.%20Explanation%20of%20Operating%20Performance%20and%20Financial%20Position) This section details the significant improvements in profitability driven by market expansion, optimized strategies, and enhanced cost management [Reasons for Significant Growth in Profit Indicators](index=2&type=section&id=Item%202.1%20Reasons%20for%20Significant%20Growth%20in%20Profit%20Indicators) Company's operating profit, total profit, and net profit attributable to shareholders saw substantial year-on-year growth due to market expansion, optimized marketing strategies, strengthened cost management, and product structure adjustments, leading to improved comprehensive gross profit margin - In the first half of 2025, the company's operating profit, total profit, and net profit attributable to shareholders of the listed company increased by **368.84%**, **366.80%**, and **243.46%** respectively compared to the prior period[5](index=5&type=chunk) - Key drivers for performance growth include consolidating existing market segments, actively expanding into new industry markets such as new energy, optimizing marketing strategies, continuously strengthening cost management, and optimizing product structure, which collectively led to an improvement in the comprehensive gross profit margin[5](index=5&type=chunk) [Reasons for Significant Increase in Basic Earnings Per Share](index=2&type=section&id=Item%202.2%20Reasons%20for%20Significant%20Increase%20in%20Basic%20Earnings%20Per%20Share) Basic earnings per share increased by 247.31% year-on-year, primarily due to a substantial increase in net profit attributable to shareholders of the listed company - Basic earnings per share for the first half of 2025 was **RMB 0.0330**, representing a **247.31%** increase compared to the prior period[5](index=5&type=chunk) - The increase in basic earnings per share is primarily attributed to the significant increase in net profit attributable to shareholders of the listed company compared to the prior period[5](index=5&type=chunk) [Explanation of Differences from Previous Performance Forecast](index=2&type=section&id=Item%20III.%20Explanation%20of%20Differences%20from%20Previous%20Performance%20Forecast) The operating performance disclosed in this express report shows no significant deviation from the previously issued performance forecast - The operating performance disclosed in this performance express report does not materially differ from the '2025 Semi-Annual Performance Forecast' disclosed by the company on July 15, 2025[6](index=6&type=chunk) [Other Explanations](index=2&type=section&id=Item%20IV.%20Other%20Explanations) This performance express report presents preliminary financial data, which is unaudited and subject to final confirmation in the official semi-annual report - The data in this performance express report represents preliminary calculations by the company's finance department and has not been audited by an accounting firm[7](index=7&type=chunk) - The final financial data will be subject to the '2025 Semi-Annual Report' disclosed by the company, and investors are advised to be aware of investment risks[7](index=7&type=chunk) [Documents for Reference](index=2&type=section&id=Item%20V.%20Documents%20for%20Reference) Documents for reference include comparative balance sheets and income statements signed and sealed by key financial personnel - Documents for reference include the comparative balance sheet and income statement, signed and sealed by the company's current legal representative, the person in charge of accounting work, and the head of the accounting department (accounting supervisor)[8](index=8&type=chunk)

Core Viewpoint - The demand for smart pole-mounted switches is primarily driven by the State Grid Corporation, which is a key player in China's distribution equipment market and has stringent quality and technology requirements for these products. The overall tender volume for smart pole-mounted switches is expected to increase from 63,800 units in 2018 to 232,200 units in 2024, despite fluctuations due to various external factors [1][12][13]. Overview - Smart pole-mounted switches, also known as integrated switches, are installed on overhead distribution lines and feature automation monitoring, remote control, protection, and communication capabilities. They are essential for enhancing the reliability of distribution lines and optimizing grid operation efficiency [2]. Market Policy - The smart pole-mounted switch falls under the category of "C38 Electrical Machinery and Equipment Manufacturing" in China's national economic industry classification. The development of this sector is supported by various government policies aimed at enhancing the safety and efficiency of the power system [5][7]. Industry Chain - The upstream materials for smart pole-mounted switches include switch bodies, insulation modules, current/voltage transformers, and other components, with direct materials accounting for over 90% of costs. The midstream involves manufacturing, while the downstream applications cover various sectors, including urban and rural power grids and renewable energy integration [8][9]. Development Status - The State Grid is the primary customer for smart pole-mounted switches, reflecting the market's development. The tender volume for these switches is expected to show a growth trend, with significant increases projected for 2024 [12][14]. Competitive Landscape - The smart pole-mounted switch industry has a competitive market structure, with numerous participants. In 2024, 255 companies won tenders from the State Grid, with a total bid amount of 9.46 billion yuan. Key players include Keda Intelligent Electric Technology Co., Shanghai Honglida Information Technology Co., and others [16][17]. Industry Representative Analysis - Shanghai Honglida Information Technology Co. reported a total revenue of 979 million yuan and a gross profit of 448 million yuan in 2024, indicating strong performance in the smart distribution network sector [20]. - Jinguang Electric Co. achieved a total revenue of 658 million yuan and a gross profit of 214 million yuan in 2024, focusing on the development of smart high-voltage switchgear and other related products [22]. Development Trends - Future advancements in integrated technology and AI algorithms are expected to enhance the performance and efficiency of smart pole-mounted switches, improving fault detection accuracy and response times. The integration of 5G technology will further optimize operational efficiency in power grid management [24].

内容概要：箱式变电站下游主要客户为国家电网下属企业，国家电网是我国配电设备主要使用企业之 一，同时也是我国智能电网和新型电力系统建设的主导者之一，对配电设备产品质量和技术含量有严格 的要求，因此，国家电网对箱式变电站的市场需求能在一定程度上反映箱式变电站市场的发展情况。国 家电网对相关产品的招标总量，受到外部宏观环境、产业政策、项目建设安排和实施进度、前期已招标 数量和产品具体需求时点等因素的影响，导致各年度相关产品的招标总量存在一定波动，受国家电网配 网物资协议库存采购安排的影响，2017年至2024年，箱式变电站招标总量存在一定的波动，但近几年总 体保持增长趋势，2024年箱式变电站招标总量达14078台/套，同比增长1.85%。 上市企业：明阳电气（301291）、特锐德（300001）、北京科锐（002350）、金盘科技（688676）、顺 钠股份（000533）、科林电气（603050）、江苏华辰（603097） 相关企业：北京昊创瑞通电气设备股份有限公司、上海置信电气非晶有限公司、宁波奥克斯智能科技股 份有限公司、河南平高通用电气有限公司、山东电工电气集团智能电气有限公司、东盟电气集团南京股 份有 ...

天眼查商业履历信息显示，北京科锐集团股份有限公司，成立于1993年，位于北京市，是一家以从事电 力、热力生产和供应业为主的企业。企业注册资本54233.1351万人民币，实缴资本8000万人民币。公司 法定代表人为付小东。 通过天眼查大数据分析，北京科锐集团股份有限公司共对外投资了34家企业，参与招投标项目3617次， 知识产权方面有商标信息45条，专利信息184条，此外企业还拥有行政许可39个。 金融界消息 截至2025年8月14日收盘，北京科锐（002350）报收于7.3元，下跌2.8%，换手率2.28%，成 交量12.10万手，成交金额8901.21万元。 资金流向方面，今日主力资金净流出1030.38万元，占比成交额11.58%。其中，超大单净流出340.62万 元、占成交额3.83%，大单净流出689.76万元、占成交额7.75%，中单净流出流出132.26万元、占成交额 1.49%，小单净流入1162.65万元、占成交额13.06%。 北京科锐最新一期业绩显示，截至2025一季报，公司营业总收入4.34亿元、同比增长60.22%，归属净利 润1056.11万元，同比增长152.68%，扣非净利润9 ...

Core Viewpoint - Beijing Keri Group has officially joined the Zhongguancun Energy Storage Industry Technology Alliance, enhancing its position in the energy storage sector and contributing to the development of new energy technologies [2]. Company Introduction - Founded in 1988, Beijing Keri Group originated from the China Electric Power Research Institute and has developed into a comprehensive company with three main business areas: research and manufacturing of distribution equipment, investment and construction in new energy, and smart energy management [4]. - The company is recognized as a national green demonstration factory, a high-tech enterprise, and a benchmark enterprise for intelligent manufacturing in Beijing, among other accolades [4]. - With over 30 years of focus on the distribution field, Beijing Keri has been a key player in advancing power technology and actively participating in the development of new energy [4]. - The company has a strong project management team and technical workforce, having participated in national key research projects and industry standard formulation, earning numerous honors including the National Science and Technology Progress Award [4]. Product Applications - Beijing Keri's products have been successfully utilized in significant events such as the Beijing Olympics, the Beijing International Horticultural Exhibition, and the G20 Summit, serving various industries including power grids, new energy, data centers, and aerospace [5]. Product Overview - The energy storage converter and booster integrated machine is a crucial component of electrochemical energy storage systems, facilitating energy exchange between batteries and the grid, and supporting various charging and discharging modes [7][8]. - The centralized energy storage PCS series utilizes advanced three-level power electronics technology, playing a vital role in enhancing the economic, environmental, and operational efficiency of smart grids [10]. - The new energy transformer produced by Beijing Keri is designed for photovoltaic and wind power systems, featuring high insulation strength, low noise, and high operational efficiency [14]. Technical Features - The energy storage systems are characterized by high integration, incorporating various components such as storage converters, transformers, and safety systems, ensuring reliable operation [9]. - The new energy transformer supports automatic control of charging and discharging, with a maximum efficiency exceeding 99%, and can handle dynamic loads such as electric vehicles [14][15].

Core Viewpoint - Beijing Keri has successfully secured multiple contracts in the renewable energy sector, indicating a positive trend in its business performance and market expansion efforts [1][2][3]. Group 1: Contract Wins - On August 5, Beijing Keri announced it won a bid for a framework agreement with China Huaneng Group for the procurement of renewable energy box transformers, with a total bid amount of approximately 693 million yuan [1][2]. - Since the beginning of 2025, Beijing Keri has won seven contracts, totaling approximately 2.092 billion yuan, surpassing its total revenue for 2024 [3]. - The recent contract win is the largest for the year, reflecting the company's successful exploration in the renewable energy sector [2]. Group 2: Financial Performance - In the first half of 2025, Beijing Keri is expected to report a net profit attributable to shareholders of between 16 million and 20 million yuan, marking a turnaround from a loss of 11.84 million yuan in the same period last year [6]. - The company reported a revenue of 2.042 billion yuan in 2024, a year-on-year increase of 4.58%, and a net profit of 39.21 million yuan, indicating a recovery from previous losses [5]. - The company has experienced fluctuating performance over the past five years, with a peak revenue of 2.333 billion yuan in 2021, followed by a decline in subsequent years, leading to a loss in 2023 [5]. Group 3: Business Strategy - Beijing Keri focuses on three main business areas: research and manufacturing of distribution equipment, investment and construction in renewable energy, and smart energy management [4]. - The company is actively expanding its presence in the renewable energy market, particularly in emerging sectors such as energy storage and charging stations, which has contributed to revenue growth [7]. - The improvement in performance is attributed to an increase in orders from the renewable energy sector, optimization of marketing strategies, and cost-reduction measures in technology and procurement [7].

Core Viewpoint - Beijing Keri announced that it has won a bid for a project from China Huaneng Group on its e-commerce platform, with a total bid price of approximately 693 million yuan, which is expected to positively impact the company's operating performance in 2025 and beyond [2] Group 1: Project Details - The project is part of China Huaneng Group's 2025-2027 renewable energy initiative, and Beijing Keri is one of the bidders for package 2 [2] - The company has received the bid notification and will sign a framework agreement with the tenderer [2] Group 2: Financial Performance - In 2024, Beijing Keri achieved operating revenue of 2,042.464 million yuan, representing a year-on-year growth of 4.58% [2]

| | | 8月5日重要公告精选 | | --- | --- | --- | | 类型 | 公司 | 主要内容 | | 热点 | 中马传动 | 不涉及机器人业务 | | 项目投资 | 回盛生物 | 拟投资建设兽用原料药绿色设备技改项目 | | 中标合同 | 珠江钢琴 | 白水寨公司中标白水寨风景名胜区白水仙瀑景区经营权招选项目 | | 经营数据 | 牧原股份 | 7月商品猪销售收入116.39亿元 | | 股权收购 | 嵘泰股份 | 拟收购中山澳多51%股权 | | 回购 | 舜禹股份 | 已累计回购3.07%股份 | | 业绩 | 长虹华意 | 上半年净利润2.57亿元 同比增长13.42% | | 增减持 | 光格科技 | 股东基石创投、方广二期拟合计减持不超4.04%股份 | | | 道道全 | 兴创投资拟增持5000万元-1亿元公司股份 | | 其他 | 豪恩汽电 | 拟定增募资不超11.05亿元 用于投资豪恩汽电深圳产线扩建项目等 | | | 英联股份 | 子公司与某知名圆柱电池公司签署《战略合作协议》 に 簡屋に | 【热点】 上纬新材(688585.SH)：如未来公司股票价格进一步上涨，可能再次 ...