上市保荐书 华泰联合证券有限责任公司关于 长高电新科技股份公司向不特定对象发行可转换公司债券 并在主板上市之上市保荐书 联系方式：0731-8858 5095 （二）发行人的主营业务 深圳证券交易所： 作为长高电新科技股份公司（以下简称发行人、公司）向不特定对象发行可 转换公司债券并在主板上市的保荐人，华泰联合证券有限责任公司及其保荐代表 人已根据《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》）等法律法规和中国证券监督管理委员会（以下简称 中国证监会）及贵所的有关规定，诚实守信，勤勉尽责，严格按照依法制定的业 务规则和行业自律规范出具上市保荐书，并保证所出具文件真实、准确、完整。 现将有关情况报告如下： 一、发行人基本情况 （一）发行人概况 发行人名称：长高电新科技股份公司 注册地址：长沙市望城经济技术开发区金星北路三段 393 号 注册时间：1998 年 4 月 23 日 发行人主营业务包括输变电设备业务以及电力勘察设计和工程总包业务两 个板块，致力于成为"电力能源综合服务商"。输变电设备领域是发行人的核心 业务板块，主要产品包括高压开关、封闭式组合电器、成套 ...

Group 1 - The company stated that it will consider profit distribution matters such as dividends or stock bonuses based on actual operating conditions, financial status, and future development strategies [2] - Any relevant plans for profit distribution will be announced in accordance with information disclosure requirements [2]

证券日报网讯长高电新（002452）8月5日在互动平台回答投资者提问时表示，截至2025年7月31日，公 司股东总户数为39844户。 ...

Investment Rating - The report maintains an "Outperform" rating for the industry [4] Core Insights - The report emphasizes the significance of the Yarlung Tsangpo River downstream hydropower project, which aims to harness the region's abundant hydropower potential and drive economic development [1][10] - The development of large-capacity impulse turbines, with a single unit capacity of approximately 800 MW, represents a world-first achievement, addressing extreme challenges in high-altitude and high-head environments [1][10] - The gas-insulated transmission line (GIL) technology is highlighted for its advantages in high-capacity power transmission, low losses, and adaptability to various environments, making it a preferred choice in special scenarios [2][26] Summary by Sections 1. Large Capacity Impulse Turbines - The Yarlung Tsangpo River downstream hydropower project is set to utilize impulse turbines with a capacity of 800 MW, surpassing current global standards [1][10] - The project faces significant technical challenges due to high water heads and extreme environmental conditions, necessitating advanced turbine designs and manufacturing techniques [10][11] 2. Gas-Insulated Transmission Lines (GIL) - GIL technology is recognized for its ability to efficiently transmit high voltage and large currents in confined spaces, making it suitable for urban and challenging geographical environments [2][26] - The report notes successful applications of GIL in various projects, including the Su Tong GIL comprehensive corridor, which is the highest voltage and largest capacity GIL project globally [27][33] 3. High-Altitude Electrical Equipment - The report discusses the need for altitude adjustments in electrical equipment due to the unique challenges posed by high-altitude environments, particularly in the Yarlung Tsangpo River project [2][3] - The development of high-altitude, high-seismic equipment is crucial for the effective transmission and consumption of clean energy [2][3] 4. Reliable Key Supply Chain - The report identifies key companies in the supply chain for hydropower equipment, including Harbin Electric, Dongfang Electric, and China XD Electric, among others [3][4] - The supply chain's reliability is essential for supporting the ambitious hydropower projects outlined in national plans [3][4]

Core Viewpoint - The company has experienced continuous growth in performance due to opportunities in the power equipment industry and its long-term focus on the transmission and transformation equipment sector [1] Group 1: Company Performance - The company has seen sustained growth in recent years [1] - The growth is attributed to increased investment in the power grid sector [1] - The company has been focusing on its core business for decades, enhancing its research and development efforts [1] Group 2: Strategic Initiatives - The company is optimizing its product structure and promoting the launch of new products [1] - It is implementing refined management practices to strengthen cost control [1] - The company is increasing the self-manufacturing rate of components, which effectively enhances profitability [1]

Group 1 - The company Longgao Electric (002452) stated that its production and operations are currently normal, with no undisclosed significant information [1] - The performance of the company's stock in the secondary market and changes in institutional holdings are influenced by various factors, including market environment, industry cycles, and adjustments in institutional investment strategies [1] - The company emphasizes compliance operations and information disclosure, and will continue to focus on its main business to enhance operational performance and reward investor trust and support [1]

Group 1 - The company, Changgao Electric, expressed its intention to actively explore overseas markets and strive for new market breakthroughs [2]

证券日报网讯 长高电新8月1日在互动平台回答投资者提问时表示，未来，公司将继续坚持"聚焦主业、 稳中求进"战略，持续推进产品与技术创新及成果转化，结合需求推进产能建设；深耕现有市场并加大 配网、省网、电网系统外市场等领域的开拓力度，优化市场结构；同时提升精细化管理水平与运营效 率，努力实现企业高质量的可持续发展和业绩的持续增长。 （编辑 王雪儿） ...

证券日报网讯 长高电新8月1日在互动平台回答投资者提问时表示，公司将持续关注国家重点项目的招 标情况，积极做好各项准备工作，充分发挥自身优势，努力争取新的订单，为国家特高压建设贡献力 量。 （编辑 王雪儿） ...

Group 1: Company Overview and Strategy - The company focuses on the production and sales of power transmission and transformation equipment, serving major clients like the State Grid and Southern Power Grid [2][3] - The development strategy emphasizes "focusing on the main business and seeking progress while maintaining stability," with a commitment to low debt ratios and stable operations [2][3] - Significant investments have been made in R&D for new products such as 550kV, 363kV, and 800kV equipment, as well as the establishment of three production bases [2][3] Group 2: Market Opportunities and Industry Context - In 2025, the State Grid and Southern Power Grid are expected to invest a record 825 billion yuan, presenting substantial growth opportunities for the industry [3] - The company is well-positioned to capitalize on the favorable market conditions driven by national "dual carbon" goals and the construction of new power systems [3] Group 3: Competitive Positioning - Compared to competitors like XJ Electric and Pinggao Group, the company holds a strong reputation, particularly in the isolation switch segment, where it ranks among the top three in national tenders [4] - The company is recognized for its R&D capabilities and production capacity, especially in the development of 500kV and 800kV products [4] Group 4: Investor Relations and Market Management - The company employs various measures for market value management, including share buybacks, employee stock ownership plans, and cash dividends to enhance investor confidence [4][5] - Continuous communication with investors is essential for improving market performance and promoting company value [4] Group 5: Feedback from Securities Association - The Securities Association leaders emphasized the importance of understanding industry trends and the role of mergers and acquisitions in enhancing operational efficiency [3] - They highlighted the significance of the company's research capabilities, production capacity, and talent development in driving future growth [3]