Core Insights - The company reported a total revenue of 1.202 billion yuan for Q3 2025, ranking 47th among disclosed peers [1] - The net profit attributable to shareholders was 203 million yuan, with a net cash inflow from operating activities of 277 million yuan [1] Financial Metrics - The latest debt-to-asset ratio stands at 27.15% [3] - The gross profit margin is reported at 39.41%, with a return on equity (ROE) of 7.80% [4] - The diluted earnings per share (EPS) is 0.33 yuan [5] - The total asset turnover ratio is 0.34 times, ranking 61st among peers, showing a year-on-year decline of 1.25% [5] - The inventory turnover ratio is 1.78 times, ranking 65th among peers, with a year-on-year decrease of 1.17% [5] Shareholder Information - The number of shareholders is 36,600, with the top ten shareholders holding a total of 193 million shares, accounting for 31.16% of the total share capital [6] - The largest shareholder is Ma Xiaowu, holding 13.5 million shares [6]

Core Viewpoint - Changgao Electric New reported a revenue of 1.202 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 6.22% and a net profit of 203 million yuan, up 11.97% year-on-year [1] Financial Performance - The basic earnings per share for the reporting period was 0.33 yuan, with a weighted average return on equity of 8.10% [2] - The company's gross margin for the first three quarters was 39.41%, an increase of 3.33 percentage points year-on-year, while the net margin was 16.92%, up 0.92 percentage points from the previous year [2] - In Q3 2025, the gross margin reached 42.90%, a year-on-year increase of 6.15 percentage points and a quarter-on-quarter increase of 5.35 percentage points; the net margin was 20.80%, up 5.85 percentage points year-on-year and 2.46 percentage points quarter-on-quarter [2] Expense Analysis - Total expenses for the period were 250 million yuan, an increase of 40.32 million yuan year-on-year, with an expense ratio of 20.78%, up 2.27 percentage points from the previous year [2] - Sales expenses increased by 8.85% year-on-year, while management expenses decreased by 8.22%; R&D expenses surged by 78.66%, and financial expenses decreased by 42.91% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 36,600, a decrease of 2,005 from the end of the previous half-year, representing a decline of 5.20%; the average market value per shareholder increased from 111,800 yuan to 130,700 yuan, a growth of 16.87% [2] Company Overview - Changgao Electric New, established on April 23, 1998, and listed on July 20, 2010, is located in Changsha, Hunan Province. The company specializes in the R&D, production, and sales of power transmission and transformation equipment, power design, engineering services, and new energy power development [3] - The main business revenue composition includes: 93.65% from power transmission and transformation equipment, 4.80% from power survey design and engineering contracting, 0.89% from new energy generation, and 0.66% from other sources [3] - The company belongs to the electric power equipment industry, specifically in the power grid equipment and transmission and transformation equipment sector, and is associated with concepts such as ultra-high voltage, smart grid, solar energy, energy storage, and aerospace military industry [3]

Company Overview - Changgao Electric's market capitalization is 4.7 billion yuan [1] - The company held its 23rd meeting of the 6th board of directors on October 28, 2025, via telecommunication voting [1] Financial Performance - For the first half of 2025, Changgao Electric's revenue composition is as follows: - Power transmission and transformation equipment accounted for 93.65% - Power energy design and services and general contracting accounted for 4.8% - New energy generation accounted for 0.89% - Other industries accounted for 0.66% [1]

证券代码：002452 证券简称：长高电新 公告编号：2025-51 长高电新科技股份公司 第六届监事会第十九次会议决议公告 本公司及监事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 2025 年 10 月 29 日 审议通过了《关于审议公司 2025 年第三季度报告的议案》 经过认真审查，公司监事会认为：公司 2025 年第三季度报告真实客观地反 映了公司 2025 年三季度的财务状况和经营成果。监事会认为董事会编制和审议 公司 2025 年三季度报告的程序符合法律、行政法规和中国证监会的规定,报告内 容真实、准确、完整地反映了上市公司的实际情况，不存在任何虚假记载、误导 性陈述或者重大遗漏。 审议结果：3 票赞成；0 票反对；0 票弃权，全票通过。 二、备查文件 第六届监事会第十九次会议决议 特此公告 长高电新科技股份公司监事会 长高电新科技股份公司（下称"公司"）第六届监事会第十九次会议于 2025 年 10 月 28 日在公司总部大楼 17 楼会议室召开。公司于 2025 年 10 月 23 日以专 人送达的形式通知了全体监事，会议应到监事 3 名，实际到会监事 3 ...

本公司及董事会全体成员保证公告内容真实、准确和完整，并对公告中的虚 假记载、误导性陈述或者重大遗漏承担责任。 长高电新科技股份公司（以下称"公司"）第六届董事会第二十三次会议于 2025 年 10 月 28 日以通讯表决的方式召开。公司于 2025 年 10 月 23 日以专人送 达、邮件及微信等形式通知了全体董事，本次董事会会议应出席董事 9 人，亲自 出席董事 9 人，公司监事及高级管理人员列席会议。本次会议对出席人数、召集 召开程序、议事内容均符合《中华人民共和国公司法》及《公司章程》的要求。 公司董事长马孝武先生为本次董事会主持人。 一、与会董事对本次会议审议的全部议案进行讨论，并以表决票表决的方式， 进行了审议表决： 证券代码：002452 证券简称：长高电新 公告编号：2025-49 长高电新科技股份公司 第六届董事会第二十三次会议决议公告 表决结果：9 票赞成，0 票反对，0 票弃权，一致通过。 二、备查文件： 第六届董事会第二十三次会议决议 特此公告。 长高电新科技股份公司董事会 2025 年 10 月 29 日 审议通过了《关于审议公司 2025 年第三季度报告的议案》； 同意公司按照定期报 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥469,939,688.17, representing a year-on-year increase of 16.76%[5] - Net profit attributable to shareholders was ¥97,194,556.50, up 63.09% compared to the same period last year[5] - The basic earnings per share increased by 61.88% to ¥0.1567[5] - Total operating revenue for the current period reached ¥1,202,093,931.45, an increase of 6.1% compared to ¥1,131,746,201.16 in the previous period[18] - Net profit for the current period was ¥203,397,172.33, representing a growth of 12.3% from ¥181,061,408.87 in the previous period[18] - Earnings per share (EPS) increased to ¥0.3268, compared to ¥0.2952 in the previous period, marking a rise of 10.5%[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,570,697,054.73, reflecting a 1.37% increase from the previous year[5] - The total liabilities decreased to ¥969,319,340.58 from ¥1,111,199,715.97, a reduction of 12.7%[16] - Total current assets amounted to ¥2,592,506,485.84, up from ¥2,538,776,209.80, indicating an increase of about 2.1%[15] - The company's inventory rose to ¥453,081,043.45 from ¥363,081,386.97, reflecting a significant increase of approximately 24.8%[15] - Long-term equity investments increased to ¥123,923,986.74 from ¥114,688,103.45, showing a growth of about 8%[15] Cash Flow - Cash flow from operating activities for the year-to-date was ¥277,410,562.18, up 12.74%[5] - Cash generated from operating activities was ¥1,399,886,231.55, up from ¥1,307,073,871.35, indicating a growth of 7.1%[21] - The net cash flow from operating activities was $277,410,562.18, an increase of 12.7% compared to $246,060,911.12 in the previous period[22] - The total cash and cash equivalents at the end of the period reached $1,054,157,190.71, compared to $865,291,209.14, marking an increase of 21.9%[23] - The net increase in cash and cash equivalents was $118,506,351.22, compared to $105,900,334.83, representing a growth of 11.5%[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 36,553[11] - The largest shareholder, Ma Xiaowu, holds 13.59% of shares, totaling 84,298,440 shares[11] - The company has no preferred shareholders as of the reporting period[12] Research and Development - Research and development expenses rose by 78.66% to ¥94,786,363.67, primarily due to new product development costs[9] - Research and development expenses rose significantly to ¥94,786,363.67, compared to ¥53,055,299.97, reflecting an increase of 78.5%[18] Financing Activities - The company reported a significant decrease in short-term borrowings by 43.33% to ¥8,500,000.00[9] - The company received $8,500,000.00 from borrowings, down from $15,000,000.00 in the previous period, indicating a decrease of 43.3%[22] - The company paid $123,040,000.00 in debt repayments, significantly higher than $23,220,000.00 in the previous period, reflecting a substantial increase[22] Equity - The company's equity attributable to shareholders increased by 7.86% to ¥2,598,530,648.16[5] - Total equity attributable to shareholders increased to ¥2,598,530,648.16 from ¥2,409,090,825.06, showing a growth of 7.9%[16] Other Financial Metrics - The weighted average return on equity was 3.82%, an increase of 1.22% from the previous year[5] - The company experienced a 3506.72% increase in minority shareholders' profit to ¥690,293.79, indicating improved performance in subsidiaries[9] - The company reported a decrease in accounts payable to ¥471,195,974.12 from ¥484,692,700.55, a decline of 2.2%[16] - The company’s deferred income tax liabilities were recorded at ¥3,567,398.84, slightly down from ¥3,824,720.36, a decrease of 6.7%[16]

未减持公司股份的公告 刘云强先生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。 长高电新科技股份公司（以下简称"公司"）于 2025 年 7 月 4 日在巨潮资 讯网披露了《关于高级管理人员减持股份的预披露公告》（公告编号：2025-29）， 公司财务总监刘云强先生计划在预披露公告之日起 15 个交易日后的三个月内（即 2025 年 7 月 25 日至 2025 年 10 月 24 日）以集中竞价交易方式减持公司股份 120,000 股，占公司总股本的比例为 0.0193%。 证券代码：002452 证券简称：长高电新 公告编号：2025-48 长高电新科技股份公司 关于公司高级管理人员减持计划期限届满 2025 年 10 月 24 日，公司收到刘云强先生出具的《关于减持期限届满暨未减 持公司股份的告知函》。截至本公告披露日，刘云强先生的减持计划期限届满， 在减持计划期间未减持公司股份，其所持公司股份数量未发生变化。 二、其他说明 1、刘云强先生在减持计划实施期间，严格遵守《深圳证券交易所股票上市 规则》《 ...

Core Viewpoint - The financial director of Changgao Electric New, Liu Yunqiang, had planned to reduce his shareholding by selling 120,000 shares, which represents 0.0193% of the company's total share capital, between July 25, 2025, and October 24, 2025. However, he did not sell any shares by the end of the reduction period, maintaining his holding of 820,300 shares, which accounts for 0.13% of the total shares [1] Summary by Category Company Actions - Liu Yunqiang, the financial director, intended to sell 120,000 shares of the company [1] - The planned sale was scheduled to occur from July 25, 2025, to October 24, 2025 [1] Shareholding Status - As of October 24, 2025, Liu Yunqiang did not execute any share sales [1] - His current shareholding remains at 820,300 shares, representing 0.13% of the total share capital [1]

Group 1 - The core point of the news is that Changgao Electric New has experienced fluctuations in its stock performance and financing activities, with a notable decrease in net financing and a slight increase in shareholder accounts [1][2]. Group 2 - As of October 23, Changgao Electric New's stock price fell by 0.53%, with a trading volume of 88.2 million yuan. The financing buy-in amount was 14.01 million yuan, while the financing repayment was 16.48 million yuan, resulting in a net financing outflow of 2.46 million yuan [1]. - The total financing and securities balance for Changgao Electric New reached 212 million yuan, accounting for 4.52% of its circulating market value, indicating a high level compared to the past year [1]. - The company has not engaged in any short selling activities on October 23, with no shares sold or repaid, and the short selling balance remains at zero [1]. Group 3 - As of July 31, the number of shareholders for Changgao Electric New increased to 39,800, representing a 2.08% rise, while the average circulating shares per person decreased by 2.04% to 12,948 shares [2]. - For the first half of 2025, Changgao Electric New reported a revenue of 732 million yuan, reflecting a year-on-year growth of 0.40%. However, the net profit attributable to shareholders decreased by 13.12% to 106 million yuan [2]. Group 4 - Since its A-share listing, Changgao Electric New has distributed a total of 390 million yuan in dividends, with 105 million yuan distributed over the past three years [3].

Core Insights - Longgao Electric New's stock price decreased by 1.01% on October 16, with a trading volume of 145 million yuan [1] - The company experienced a net financing purchase of 6.97 million yuan on the same day, with a total financing balance of 241 million yuan, representing 4.95% of its market capitalization [1] - The company reported a revenue of 732 million yuan for the first half of 2025, showing a year-on-year growth of 0.40%, while the net profit attributable to shareholders decreased by 13.12% to 106 million yuan [2] Financing and Margin Trading - On October 16, Longgao Electric New had a financing purchase of 21.84 million yuan, with a financing balance of 241 million yuan, which is above the 80th percentile of the past year [1] - The company had no short selling activity on October 16, with a remaining short position of 100 shares valued at 787 yuan, also above the 80th percentile of the past year [1] Business Overview - Longgao Electric New, established on April 23, 1998, and listed on July 20, 2010, is located in Changsha, Hunan Province [1] - The company's main business includes research, production, and sales of power transmission and transformation equipment, accounting for 93.65% of its revenue, with other segments contributing significantly less [1] Shareholder Information - As of July 31, Longgao Electric New had 39,800 shareholders, an increase of 2.08% from the previous period, with an average of 12,948 circulating shares per shareholder, a decrease of 2.04% [2] Dividend Information - Since its A-share listing, Longgao Electric New has distributed a total of 390 million yuan in dividends, with 105 million yuan distributed over the past three years [3]