Core Insights - Changgao Electric (002452.SZ) announced that its subsidiaries won bids in the National Grid Corporation's recent procurement announcements for power transmission and transformation projects, totaling 313 million yuan [1] Group 1: Company Achievements - The company's wholly-owned subsidiaries, including Hunan Changgao Electric Co., Hunan Changgao High Voltage Switch Co., Hunan Changgao Senyuan Power Equipment Co., and Hunan Changgao Complete Electrical Equipment Co., secured bids in three product categories: combined electrical appliances, isolating switches, and switchgear [1] - The total amount won by the four subsidiaries in the bidding process is 313 million yuan [1]

Core Viewpoint - Changgao Electric's subsidiaries have won significant contracts from the State Grid Corporation of China, indicating strong market positioning and potential revenue growth for the company [1] Group 1: Contract Wins - Changgao Electric's wholly-owned subsidiaries won bids in the sixth batch of procurement for the State Grid Corporation, specifically in the categories of combination electrical devices, isolating switches, and switchgear [1] - The total value of the contracts awarded to the four subsidiaries amounts to 312.7554 million yuan [1]

Core Viewpoint - Changgao Electric (002452.SZ) announced that its subsidiaries won bids totaling 313 million yuan in the latest procurement by State Grid Corporation of China for power transmission and transformation projects [1] Group 1: Company Achievements - Changgao Electric's wholly-owned subsidiaries, including Hunan Changgao Electric Co., Hunan Changgao High Voltage Switch Co., Hunan Changgao Senyuan Power Equipment Co., and Hunan Changgao Complete Electrical Equipment Co., won bids in three categories: combined electrical appliances, isolating switches, and switchgear [1] - The total amount won by the four subsidiaries in the recent bidding process is 313 million yuan [1]

证券代码：002452 证券简称：长高电新 公告编号：2025-45 长高电新科技股份公司 关于子公司在国家电网中标的公告 合同的执行期限以签订的正式合同为准，敬请广大投资者注意投资风险。 特此公告。 长高电新科技股份公司董事会 2025 年 9 月 25 日 一、中标公告主要内容 本次中标公示媒体是国家电网有限公司电子商务平台，招标人是国家电网有限 公司，详细内容请查看国家电网有限公司电子商务平台。 二、中标对公司的影响和本次中标的意义 本次四个子公司上述中标金额合计人民币 31,275.54 万元，占公司 2024 年经审 计合并营业收入的 17.77%。签署正式合同后，其合同的履行将对公司 2025 年及以后 年度的经营业绩产生积极影响，且不影响公司的独立性。 三、风险提示 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。 近日，国家电网有限公司电子商务平台（https://ecp.sgcc.com.cn）发布了《国家 电网有限公司 2025 年第六十批采购（输变电项目第四次变电设备（含电缆）招标采 购）中标公告》《国家电网有限公司 2025 年第六十一批 ...

Group 1 - The announcement details the exit of Guokai Development Fund Co., Ltd. from its investment in Hunan Changgao Electric Co., Ltd. through a capital reduction process [1][5] - In December 2015, the company and Guokai Fund signed an investment contract where Guokai Fund invested 150 million yuan, acquiring a 40% stake in Changgao Electric [2] - Guokai Fund received an annual investment return of 1.2% and has been repaid all principal and interest by Changgao Electric, leading to its exit through capital reduction [3] Group 2 - On September 19, 2025, Changgao Electric completed the business registration change following Guokai Fund's exit, with a registered capital of 150 million yuan [4] - The company remains a wholly-owned subsidiary of Changgao Electric Technology Co., Ltd., and the capital reduction does not affect the consolidated financial statements of the company [5]

湖南长高电气有限公司股权退出的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、减资背景 2015 年 12 月 25 日，长高电新科技股份公司（原名称：湖南长高高压开关 集团股份公司，以下简称"公司"）召开第三届董事会第三十五次会议，审议通过 了《关于国开发展基金有限公司投资参股公司全资子公司长高电气及拟签署相关 合同的议案》，为支持子公司湖南长高电气有限公司（以下简称"长高电气"）"智 能高压配电箱总成系统等零部件数字化车间项目"建设，公司、长高电气、国开 发展基金有限公司（以下简称"国开基金"）签署《国开发展基金投资合同》（以 下简称"投资合同"），国开基金以现金方式出资 15,000 万元投资入股长高电气， 其中 10,000 万元作为长高电气的注册资本，5,000 万元计入长高电气的资本公积， 入股完成后，国开基金拥有长高电气 40%的股权。国开基金本次投资参股是以明 股实债的方式持有长高电气股权，入股后，国开基金不向长高电气委派董事、监 事和高级管理人员，不参与长高电气实际经营，长高电气根据《投资合同》的约 定逐年还本付息。具体内容详见公司 ...

Core Viewpoint - Changgao Electric New (002452.SZ) announced the completion of the repayment of all investment funds and interest to the National Development Fund Co., Ltd. by its wholly-owned subsidiary, Hunan Changgao Electric Co., Ltd. [1] Group 1 - The National Development Fund exited its equity stake in Changgao Electric through a capital reduction method [1] - The investment was structured as equity disguised as debt, and the capital reduction did not change the consolidation scope of the company [1] - Hunan Changgao Electric remains a 100% consolidated subsidiary in the company's financial statements [1]

Group 1 - The National Development Fund invested 150 million yuan in Hunan Changgao Electric Co., Ltd., with 100 million yuan allocated as registered capital and 50 million yuan added to the capital reserve [1] - As of the announcement date, Hunan Changgao Electric has repaid all investment funds and interest to the National Development Fund, which completed its equity exit through a capital reduction [1]

Market Performance - As of September 22, the Shanghai Composite Index rose by 0.22%, closing at 3828.5764 points, while the Shenzhen Component Index increased by 0.67%, closing at 13157.974 points [1] Top Gainers in Hunan Stocks - Kaimete Gas opened at 21.880 and closed at 22.840, achieving a daily increase of 10.02% with a trading volume of 1,582,117 lots [2] - Hunan Silver opened at 6.540 and closed at 6.750, marking a rise of 9.93% with a trading volume of 3,188,413 lots [2] - Shanhe Intelligent opened at 15.560 and closed at 16.640, reflecting a gain of 5.05% with a trading volume of 2,981,456 lots [2] - Changgao Electric New opened at 7.730 and closed at 7.820, increasing by 4.97% with a trading volume of 586,730 lots [2] - Dianguang Media opened at 7.860 and closed at 8.160, up by 3.82% with a trading volume of 693,076 lots [2] Top Losers in Hunan Stocks - Hengli Retreat opened at 0.160 and closed at 0.150, experiencing a decline of 11.76% with a trading volume of 611,606 lots [3] - Huatian Hotel opened at 4.050 and closed at 3.860, down by 5.39% with a trading volume of 824,913 lots [3] - Jiugui Liquor opened at 68.300 and closed at 66.980, falling by 3.32% with a trading volume of 121,662 lots [3] - Yanjinpuzi opened at 70.800 and closed at 68.550, decreasing by 2.97% with a trading volume of 27,168 lots [3] - Qidi Pharmaceutical opened at 12.220 and closed at 11.870, down by 2.94% with a trading volume of 85,633 lots [3]

Group 1 - The core viewpoint of the news is that Changgao Electric New has shown fluctuations in its financing activities and stock performance, indicating a mixed market sentiment towards the company [1][2]. - As of September 17, Changgao Electric New's stock price increased by 0.94%, with a trading volume of 78.35 million yuan. The net financing buy was -7.69 million yuan, indicating more financing repayment than new purchases [1]. - The total financing and securities balance for Changgao Electric New reached 209 million yuan, accounting for 4.47% of its market capitalization, which is above the 50th percentile level over the past year [1]. Group 2 - As of July 31, the number of shareholders for Changgao Electric New increased to 39,800, a rise of 2.08%, 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, a year-on-year growth of 0.40%, while the net profit attributable to the parent company was 106 million yuan, reflecting a decrease of 13.12% year-on-year [2]. - 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].