证券代码：002364 证券简称：中恒电气 公告编号：2025-42 杭州中恒电气股份有限公司 第九届董事会第二次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 杭州中恒电气股份有限公司（以下简称"公司"）第九届董事会第二次会议 通知于2025年8月10日以电子邮件等方式发出。会议于2025年8月20日在杭州市滨 江区东信大道69号公司十九楼会议室以现场会议加通讯表决的方式召开。本次会 议应出席董事7人，实际出席董事7人，其中董事胥飞飞、仇向东、叶肖剑、曾平 良以通讯表决方式出席会议。本次会议由公司董事长包晓茹主持，公司高级管理 人员列席了会议。本次会议召集和召开程序符合法律法规和《公司章程》的规定， 会议审议了以下议案： 一、以7票同意、0票反对、0票弃权，审议通过了《2025年半年度报告及其 摘要》。 本议案已经公司第九届董事会审计委员会审议通过。 具体内容详见公司2025年8月21日披露于《证券时报》、《中国证券报》、 《上海证券报》和巨潮资讯网的《2025年半年度报告摘要》和同日披露于巨潮资 讯网的《2025年半年度报告》。 特此公告。 ...

杭州中恒电气股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 公司负责人包晓茹、主管会计工作负责人段建平及会计机构负责人(会计 主管人员)吴兴权声明：保证本半年度报告中财务报告的真实、准确、完整。 | 第一节 重要提示、目录和释义 2 | | --- | | 第二节 公司简介和主要财务指标 6 | | 第三节 管理层讨论与分析 9 | | 第四节 公司治理、环境和社会 24 | | 第五节 重要事项 25 | | 第六节 股份变动及股东情况 30 | | 第七节 债券相关情况 35 | | 第八节 财务报告 36 | | 第九节 其他报送数据 184 | 杭州中恒电气股份有限公司 2025 年半年度报告全文 备查文件目录 所有董事均已出席了审议本次半年报的董事会会议。 本报告中基于对未来政策、经济的主观假设而做出的未来计划、发展战 略等前瞻性陈述，不构成公司对投资者的实质承诺。投资者及相关人士均应 对此保持足够的风险认知，并应当理解计划、预测与承诺 ...

Group 1 - Zhongheng Electric and Kangsong shares hit the daily limit down [1] - Ruikeda shares fell over 10% [1] - Oulutong shares also dropped over 10% [1] - Xinyi Technology, Shenghong Technology, Feiling Kesi, Magmet, and Tianfu Communication all experienced declines of over 6% [1]

Market Overview - A-shares experienced a collective decline, with the Shanghai Composite Index down 0.06%, Shenzhen Component Index down 0.66%, and ChiNext Index down 1.71% as of midday [2] - The total market turnover was 1.54 trillion yuan, showing a slight decrease compared to the previous day, with over 3,400 stocks declining [3] Sector Performance - Popular sectors such as computer, communication, pharmaceutical biology, and power equipment saw a collective pullback, with stocks like trading software and CRO leading the decline [3] - Conversely, the consumer sector showed resilience, with liquor stocks rebounding and the automotive sector being active in certain areas [3] Notable Stock Movements - The photovoltaic sector showed strength in the morning but experienced a pullback by midday, with stocks like Risen Energy, Fuyao Glass, and others hitting the daily limit up [8] - The Apple index rose, with stocks like Kosen Technology and Anjie Technology hitting the daily limit up, while others like Crystal Optoelectronics saw gains exceeding 7% [11] Regulatory Developments - A meeting was held on August 19 by several government bodies to regulate the photovoltaic industry, focusing on enhancing industry control, managing project investments, and combating low-price competition [10] High-Profile Stock Declines - Several high-profile stocks experienced significant declines, with stocks like Dazhihui and Zhongheng Electric hitting the daily limit down [14][19] - Dazhihui announced that it currently has no qualifications related to "stablecoins" or "virtual asset trading," which may have contributed to its stock's performance [18] - Zhongheng Electric denied rumors of partnerships with major cloud companies, which led to its stock's rapid decline [21] Conclusion - The overall market sentiment is bearish, with significant declines in high-flying stocks and a mixed performance across sectors, indicating potential volatility ahead [15][22]

Key Points - The article discusses various important updates in different sectors, including government policies, financial data, and industry developments. Group 1: Government Policies and Financial Data - The Ministry of Human Resources and Social Security, along with four other departments, announced new regulations for personal pension withdrawals, effective from September 1, which will introduce three additional withdrawal scenarios [3]. - In the first seven months of this year, local government special bonds and other financial instruments have led to a government fund budget expenditure increase of 31.7%, amounting to 2.89 trillion yuan [6]. - In July, the national general public budget revenue reached 20,273 billion yuan, a year-on-year increase of 2.6%, marking the highest monthly growth rate this year [6]. - The Ministry of Finance reported that stamp duty revenue for the first seven months was 2,559 billion yuan, with a year-on-year increase of 20.7%, and securities transaction stamp duty alone was 936 billion yuan, up 62.5% [7]. Group 2: Industry Developments - A joint meeting was held by six departments to discuss the photovoltaic industry, emphasizing the need for industry regulation to curb low-price competition and promote sustainable development [2][7]. - The Guangdong Provincial Government issued policies to support the high-quality development of commercial aerospace, including satellite constellation construction and providing a "green channel" for project approvals [8]. - The Shanghai Municipal Government released an implementation plan to accelerate the development of "AI + manufacturing," focusing on deploying industrial robots in high-risk work scenarios to enhance production efficiency and safety [8]. Group 3: Company News - Xiaopeng Motors reported a total revenue of 34.09 billion yuan for the first half of the year, reflecting a year-on-year increase of 132.5% [12]. - Pop Mart's net profit attributable to shareholders surged by 396.5% in the first half of the year [13]. - Xian Da Co. achieved a net profit of 136 million yuan in the first half, marking a staggering year-on-year increase of 2,561.58% [13]. - Jiangte Electric announced that Yichun Yinli will officially resume production soon [15]. - Dongjie Intelligent is planning a change in control, leading to a suspension of its stock and convertible bonds starting August 20 [16].

Core Viewpoint - Zhongheng Electric (002364) has experienced significant stock price fluctuations, prompting the company to clarify that recent rumors regarding partnerships with major cloud service providers like Nvidia, Meta, and Google are untrue, and that no such agreements have been signed [1][2] Group 1: Company Operations - The company is actively pursuing expansion in overseas markets and emphasizes the importance of rational decision-making by investors [1] - Zhongheng Electric reported a revenue of 1.962 billion yuan for 2024, representing a year-on-year increase of 26.13%, with a net profit of 110 million yuan, up 178.52% [2] - The growth in performance is primarily attributed to the data center power business, which generated 660 million yuan in revenue, marking a 111.05% increase year-on-year [2] Group 2: Stock Market Activity - In the three trading days prior to the announcement, one institutional investor net bought 36.9358 million yuan worth of shares, while another institution net sold 131.5659 million yuan [2] - The board of directors confirmed that there are no undisclosed matters that should be reported according to the Shenzhen Stock Exchange listing rules [2]

Group 1 - Tenglong Co., Ltd. has small batch products indirectly applied in data center/server liquid cooling and energy storage liquid cooling fields [1] - Fuyao Glass reported a 37.33% year-on-year increase in net profit for the first half of 2025, reaching 4.805 billion yuan [2] - Huihong Group plans to dispose of certain financial assets, including stocks of Hongye Futures, Zhongtai Securities, and Shengyi Technology, to optimize asset structure [3] Group 2 - Zhongheng Electric clarified that it has not signed cooperation agreements with overseas cloud companies like NVIDIA, Meta, and Google [4] - Kosen Technology announced it does not produce robot products, despite recent stock price fluctuations [5] - Garden Shares stated it does not have a controlling relationship with Yunzhin Technology [6] Group 3 - Yiling Pharmaceutical's new drug application for "Children's Lianhua Qinggan Granules" has been accepted by the National Medical Products Administration [7] - Zhuochuang Information plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange [8] - Lianhuan Pharmaceutical's new oral solution production line has passed GMP compliance inspection [9] Group 4 - Xianda Co., Ltd. reported a 2561.58% year-on-year increase in net profit for the first half of 2025, reaching 136 million yuan [10] - Jiangte Motor announced that its subsidiary Yichun Silver Lithium will resume production soon [11] - Dameng Data's board member and general manager is under investigation [12] Group 5 - Dongjie Intelligent is planning a change in control, leading to a suspension of its stock and convertible bonds [13] - Gibit reported a 24.50% year-on-year increase in net profit for the first half of 2025, amounting to 645 million yuan [14] - Wuzhou Special Paper's net profit decreased by 47.57% year-on-year to 122 million yuan [15] Group 6 - Harbin Air Conditioning reported a loss of 7.64 million yuan for the first half of 2025, reversing from profit [16] - Tibet Tourism achieved a net profit of 2.09 million yuan, turning around from a loss of 2.58 million yuan in the previous year [17]

Group 1 - The company's stock experienced an abnormal trading fluctuation, with a cumulative closing price increase exceeding 20% over three consecutive trading days (August 15, 18, and 19, 2025) [2] - The company confirmed that there are no corrections or supplements needed for previously disclosed information [2][3] - The company addressed rumors regarding collaborations with major overseas cloud providers like Nvidia, Meta, and Google, stating that no agreements or contracts have been signed with them [2] Group 2 - The company reported that its recent operational conditions are normal and that there have been no significant changes in the internal or external business environment [2] - The board confirmed that there are no undisclosed significant matters that should have been disclosed according to the Shenzhen Stock Exchange regulations [3] - The company reassured that it has not violated any information disclosure regulations and that its half-year performance for 2025 does not require a performance forecast disclosure [4]

Core Viewpoint - Zhongheng Electric (002364) has experienced unusual stock trading fluctuations, prompting the company to clarify that recent rumors regarding partnerships with major overseas cloud providers like Nvidia, Meta, and Google are untrue, and no cooperation agreements or sales contracts have been signed with these companies [1][2] Group 1: Company Performance - For 2024, Zhongheng Electric reported a revenue of 1.962 billion yuan, representing a year-on-year increase of 26.13% [2] - The net profit attributable to shareholders reached 110 million yuan, showing a significant year-on-year growth of 178.52% [2] - The company's data center power business generated 660 million yuan in revenue, marking a year-on-year increase of 111.05% [2] Group 2: Recent Trading Activity - In the last three trading days, one institution net bought 36.9358 million yuan worth of shares, while another institution net sold 131.5659 million yuan [2] Group 3: Company Operations and Governance - The company confirmed that there are no undisclosed significant matters or ongoing negotiations that should be disclosed according to the Shenzhen Stock Exchange listing rules [1] - The board of directors stated that the company's operational conditions remain normal and that there have been no significant changes in the internal or external business environment [1]

Core Viewpoint - Zhongheng Electric (002364.SZ) has denied recent rumors regarding partnerships with major overseas cloud companies like Nvidia, Meta, and Google, stating that no cooperation agreements or sales contracts have been signed as of now [2][6]. Company Overview - Zhongheng Electric, founded in 1996 and listed on the Shenzhen Stock Exchange in March 2010, focuses on building a zero-carbon intelligent society through digital energy solutions [7]. - The company has developed two main business segments: power electronics manufacturing and energy internet, with products covering data center power supplies, communication power supplies, electric power supplies, charging and swapping equipment, and power digitalization [7]. Financial Performance - As of August 19, Zhongheng Electric's stock price closed at 24.97 yuan, with a daily increase of 10.00%, a turnover rate of 25.59%, and a trading volume of 3.473 billion yuan, resulting in a total market capitalization of 14.1 billion yuan [6]. Market Position and Growth Potential - In 2024, the revenue from data center power supplies is projected to be 670 million yuan, accounting for 34% of the company's total revenue, serving major clients such as mobile operators, internet companies, and large state-owned enterprises [7]. - The company is recognized as one of the earliest promoters of HVDC (High Voltage Direct Current) power supply solutions for data centers and has played a key role in establishing national and industry standards [7]. Industry Trends - The demand for AI computing centers is rapidly increasing, and the penetration rate of HVDC is expected to continue growing. Major industry players like Google and Nvidia have recently introduced ±400V/800V HVDC power supply architectures, with expectations for large-scale application by 2027 [8]. - The global market for AI data center HVDC is anticipated to reach 62 billion yuan by 2030, indicating significant growth potential for companies like Zhongheng Electric [8].