Summary of Key Points Core Viewpoint - Longgao Electric New Technology Co., Ltd. has shown mixed financial performance with a slight increase in revenue but a decrease in net profit, alongside notable trading activity in its stock. Group 1: Financial Performance - For the first half of 2025, the company achieved operating revenue of 732 million yuan, representing a year-on-year growth of 0.40% [2] - The net profit attributable to shareholders was 106 million yuan, reflecting a year-on-year decrease of 13.12% [2] Group 2: Stock Trading Activity - On August 29, the stock price of Longgao Electric New remained unchanged at 0.00%, with a trading volume of 78.03 million yuan [1] - The financing buy-in amount for the day was 5.54 million yuan, while the financing repayment was 6.74 million yuan, resulting in a net financing buy of -1.20 million yuan [1] - As of August 29, the total balance of margin trading was 264 million yuan, accounting for 5.73% of the market capitalization, indicating a high level compared to the past year [1] Group 3: Shareholder Information - As of July 31, the number of shareholders increased to 39,800, up by 2.08% from the previous period [2] - The average number of circulating shares per shareholder decreased by 2.04% to 12,948 shares [2] Group 4: Dividend Information - Since its A-share listing, the company has distributed a total of 390 million yuan in dividends, with 105 million yuan distributed over the past three years [3]

Group 1 - The State Intellectual Property Office of China has granted a patent to Changgao Electric New Technology Co., Ltd. and Hunan Changgao High Voltage Switch Co., Ltd. for a device titled "A Directly Inserted Ground Switch Contact with Buffering and Guiding Functions" with the authorization announcement number CN 110890233 B, applied for on November 2019 [1] - Changgao Electric New Technology Co., Ltd. was established in 1998 and is located in Changsha City, primarily engaged in technology promotion and application services, with a registered capital of 620.332085 million RMB [1] - The company has invested in 25 enterprises, participated in 339 bidding projects, holds 30 trademark registrations, and has 365 patent registrations, along with 32 administrative licenses [1]

证券代码：002452 证券简称：长高电新 公告编号：2025-39 长高电新科技股份公司 关于变更保荐机构后重新签署募集资金三方监管协议的公告 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。 长高电新科技股份公司（以下简称"公司"）于 2025 年 7 月 31 日披露了《关 于变更持续督导保荐机构及保荐代表人的公告》（公告编号：2025-33），因公 司聘请华泰联合证券有限责任公司（以下简称"华泰联合证券"）担任公司向不特 定对象发行可转换公司债券的保荐机构，由原保荐机构光大证券股份有限公司履 行的对公司 2021 年非公开发行尚未使用完毕的募集资金持续督导工作由华泰联 合证券承接。 鉴于公司募集资金持续督导机构发生变更，为保证募集资金持续督导工作的 正常进行，保护投资者权益，根据《上市公司监管指引第 2 号——上市公司募集 资金管理和使用的监管要求》《深圳证券交易所股票上市规则》《深圳证券交易 所上市公司自律监管指引第 1 号——主板上市公司规范运作》等相关法律法规以 及公司《募集资金管理制度》的相关规定，公司、华泰联合证券与中信银行股份 有限公司长沙分 ...

Financial Performance - The company reported total revenue of 732 million yuan for the first half of 2025, a year-on-year increase of 0.4% [1] - The net profit attributable to shareholders was 106 million yuan, a decrease of 13.12% compared to the previous year [1] - In Q2 2025, total revenue was 393 million yuan, down 17.32% year-on-year, and net profit was 72.06 million yuan, down 21.44% [1] - The gross margin improved to 37.17%, an increase of 4.11% year-on-year, while the net margin decreased to 14.43%, down 12.95% [1] - Total expenses (selling, administrative, and financial) amounted to 95.51 million yuan, accounting for 13.04% of revenue, an increase of 5.43% year-on-year [1] Cash Flow and Assets - Operating cash flow per share increased significantly to 0.19 yuan, a year-on-year increase of 1007.81% [1] - The company’s cash and cash equivalents increased by 45.02%, driven by a rise in operating cash flow [3] - The accounts receivable balance was 920 million yuan, representing a decrease of 3.73% year-on-year, but accounts receivable to net profit ratio reached 364.85% [1][5] Investment and R&D - R&D expenses increased by 75.08% due to higher testing costs for new products at the subsidiary [2] - The company’s return on invested capital (ROIC) was 9.94%, indicating average capital returns [4] - The company has a strong position in the industry, particularly in isolation switches, where it ranks among the top three in national tenders [5] Market Position and Competitors - The company is positioned well in the market, with a strong reputation, especially in isolation switches, compared to competitors like XJ Electric and Pinggao Electric [5] - The company’s product offerings are expanding, particularly in the 500 kV and 800 kV product lines, showcasing its R&D capabilities [5]

Core Viewpoint - The company has approved its 2025 semi-annual report and related documents, confirming that the financial status and operational results are accurately reflected [4][8]. Group 1: Company Overview - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period [3]. - There are no preferred shareholders or changes in preferred shareholder holdings reported for the period [3]. Group 2: Financial Data and Reports - The company plans not to distribute cash dividends, issue bonus shares, or convert reserves into share capital [2]. - The board of directors unanimously approved the 2025 semi-annual report and its summary, with all nine attending members voting in favor [4]. - The supervisory board also unanimously approved the 2025 semi-annual report and its summary, confirming the report's authenticity and compliance with regulations [8][10].

Core Viewpoint - The supervisory board of Changgao Electric New Technology Co., Ltd. has approved the company's 2025 semi-annual report, confirming its accuracy and compliance with regulations [1][2]. Group 1 - The sixth supervisory board meeting was held on August 23, 2025, with all three supervisors present [1]. - The supervisory board concluded that the 2025 semi-annual report accurately reflects the company's financial status and operational results [1][2]. - The procedures for preparing and reviewing the semi-annual report were deemed compliant with legal and regulatory requirements [1]. Group 2 - The resolution to approve the semi-annual report was passed unanimously with 3 votes in favor, and no votes against or abstentions [2]. - The decision and related documents will be available for review [2].

Group 1 - The company held the 21st meeting of the 6th Board of Directors on August 23, 2025, with all 9 directors present, complying with relevant laws and regulations [1][2] - The board unanimously approved the preparation of the 2025 semi-annual report based on the financial department's submission and the company's operational performance for the first half of 2025 [1][2] - The voting results were 9 votes in favor, 0 against, and 0 abstentions, indicating full agreement among the board members [2] Group 2 - The semi-annual report summary will be published in major financial newspapers including Securities Times, China Securities Journal, Shanghai Securities Journal, and Securities Daily [2] - The full text and summary of the semi-annual report will be available on the official website of the company [2]

Core Viewpoint - Changgao Electric New announced the approval of multiple proposals, including the full text and summary of the 2025 semi-annual report, during the 21st meeting of the sixth board of directors [2] Group 1 - The company held its 21st meeting of the sixth board of directors on August 25 [2] - The meeting resulted in the approval of the proposal regarding the 2025 semi-annual report [2]

Group 1 - The company Longgao Electric New announced the approval of multiple proposals during the 18th meeting of its sixth supervisory board, including the review of the full text and summary of the 2025 semi-annual report [2]

Company Overview - Changgao Electric's revenue composition for 2024 is as follows: 94.17% from power transmission and transformation equipment, 4.52% from power energy design and services, 0.74% from new energy generation, and 0.57% from other industries [1] Financial Performance - As of the report, Changgao Electric has a market capitalization of 4.7 billion yuan [1]