Group 1 - The company held its 27th temporary board meeting on August 28, 2025, via communication voting, with all 9 participating directors agreeing to waive the notice period for the meeting [1][2] - The board unanimously approved the proposal to waive the notice period for the meeting due to the urgency of the matter, in accordance with relevant regulations [1][2] - The company decided to exercise the early redemption rights for the "Xizi Convertible Bonds" as the stock price had met the necessary conditions for 15 trading days, being at least 130% of the conversion price of 10.99 yuan per share [2] Group 2 - The board authorized the management and relevant departments to handle all matters related to the redemption of the "Xizi Convertible Bonds" [2] - The decision to redeem the bonds will be executed at the face value plus accrued interest, following the closing price on the redemption registration date [2] - The detailed announcement regarding the early redemption of the bonds will be published in major financial newspapers and on the company's designated information disclosure website [2]

Redemption Overview - The company has triggered the conditional redemption of "Xizi Convertible Bonds" due to the stock price being at least 130% of the conversion price for 15 trading days from July 23, 2025, to August 28, 2025, which is set at 14.29 CNY per share [1][2] - The company will redeem all outstanding "Xizi Convertible Bonds" registered as of the redemption registration date [2] Conditional Redemption Terms - The conditional redemption can occur if either of the following conditions is met: 1. The company's A-share stock price remains above 130% of the conversion price for at least 15 out of 30 consecutive trading days 2. The total amount of unconverted bonds is less than 30 million CNY [2] - The interest calculation for the redemption price is based on the formula: IA = B × i × t / 365, where IA is the accrued interest, B is the total face value of the bonds held, i is the annual coupon rate, and t is the number of days [3][4] Redemption Implementation Arrangements - The redemption price is set at 101.12 CNY per bond, which includes accrued interest calculated to be approximately 1.12 CNY per bond [3][4] - The redemption will be executed for all bondholders registered by the close of trading on September 19, 2025, and the bonds will be delisted from the Shenzhen Stock Exchange after the redemption [3][4] - The redemption funds will be credited to the bondholders' accounts on September 29, 2025 [3] Additional Information - Bondholders must process conversion requests through their respective securities firms, and any unconverted bond balance will be paid in cash along with accrued interest within five trading days [5] - The company confirms that there have been no transactions in "Xizi Convertible Bonds" by major stakeholders in the six months leading up to the redemption conditions being met [4]

特别提示： 1、"西子转债"赎回价格：101.12元/张（含息税，当期年利率1.50%），扣 税后的赎回价格以中国证券登记结算有限责任公司深圳分公司（以下简称"中登 公司"）核准的价格为准。 2、有条件赎回条款触发日：2025年8月28日 10、最后一个交易日可转债简称：Z子转债 | 证券代码：002534 | 证券简称：西子洁能 | 编号：2025－082 | | --- | --- | --- | | 债券代码：127052 | 债券简称：西子转债 | | 西子清洁能源装备制造股份有限公司 关于提前赎回"西子转债"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。 11、根据安排，截至 2025年9月19日收市后仍未转股的"西子转债"将被强 制赎回。本次赎回完成后，"西子转债"将在深圳证券交易所摘牌。投资者持有 的"西子转债"存在被质押或冻结情形的，建议在停止转股日前解除质押或冻结， 以免出现因无法转股而被强制赎回的情形。 12、风险提示：本次"西子转债"赎回价格可能与其停止交易和停止转股前 的市场价格存在较大差异，特提醒持有人注意在限期内转股。投资者 ...

关于西子清洁能源装备制造股份有限公司 可转换公司债券提前赎回之法律意见书 浙江金道律师事务所 浙江金道律师事务所 ZHEJIANG BRIGHTEOUS LAW FIRM 浙江会道律师事务所 关于西子清洁能源装备制造股份有限公司 可转换公司债券提前赎回 之 法律意见书 二〇二五年八月二十八日 浙江省杭州市文二路 391 号西湖国际科技大厦 A 座 9-12 楼 邮政编码: 310012 总机: 0571-87006666 传真: 0571-87006661 网址:www.zjblf.com 关于西子清洁能源装备制造股份有限公司 可转换公司债券提前赎回之法律意见书 浙江金道律师事务所 浙江金道律师事务所 关于西子清洁能源装备制造股份有限公司 可转换公司债券提前赎回之 法律意见书 (2025) 法意书第 278 号 致:西子清洁能源装备制造股份有限公司 浙江金道律师事务所接受西子清洁能源装备制造股份有限公司（以下简称 "公司")委托,根据《中华人民共和国公司法》《中华人民共和国证券法》(以 下简称《证券法》）、《可转换公司债券管理办法》（以下简称《管理办法》）、 《深圳证券交易所上市公司自律监管指引第 15 号 ...

浙商证券股份有限公司 关于西子清洁能源装备制造股份有限公司 提前赎回西子转债的核查意见 浙商证券股份有限公司（以下简称"浙商证券"或"保荐机构"）作为西子 清洁能源装备制造股份有限公司（以下简称"西子洁能"或"公司"）公开发行 可转换公司债券的保荐机构，根据《证券发行上市保荐业务管理办法》《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（2025 年修订）》以及《深圳证券交易所上市公司自律监管 指引第 13 号——保荐业务》等相关规定，对西子洁能对公司本次提前赎回可转 换公司债券（以下简称"西子转债"）的事项进行了核查，核查情况如下： 1 1、"西子转债"的初始转股价格为 28.08 元/股。 2、2022 年 5 月 20 日公司实施了 2021 年度利润分配方案，根据相关规定， "西子转债"的转股价格由 28.08 元/股调整为 27.89 元/股，调整后的转股价格于 2022 年 5 月 20 日起开始生效（详见公司 2022 年 5 月 14 日在巨潮资讯网发布的 《关于可转债转股价格调整的公告》）。 一、可转换公司债券发行上市情况 （一）可转债 ...

每经头条（nbdtoutiao）——申请超2万份，已开出41家，加盟海底捞，你要准备多少钱？1000万元不算 多，真实"账单"公布 （记者 王晓波） 每经AI快讯，西子洁能（SZ 002534，收盘价：14.32元）8月28日晚间发布公告称，公司第六届第二十 七次董事会临时会议于2025年8月28日以通讯表决方式召开。会议审议了《关于豁免第六届董事会第二 十七次临时会议通知期限的议案》等文件。 2025年1至6月份，西子洁能的营业收入构成为：锅炉及原动机制造业占比96.05%，贸易服务及其他占 比3.95%。 截至发稿，西子洁能市值为105亿元。 ...

第六届董事会第二十七次临时会议决议公告 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。 西子清洁能源装备制造股份有限公司（以下简称"公司"或"西子洁能"） 第六届董事会第二十七次临时会议通知于 2025 年 8 月 28 日以邮件、专人送达等 形式发出，会议于 2025 年 8 月 28 日以通讯表决方式召开，全体董事一致同意豁 免会议通知期限。应参加表决董事 9 人，实际参加表决董事 9 人，符合《公司法》 《公司章程》等的有关规定。会议由公司董事长王克飞先生召集，经董事通讯表 决形成如下决议： | 证券代码：002534 | 证券简称：西子洁能 | 编号：2025－081 | | --- | --- | --- | | 债券代码：127052 | 债券简称：西子转债 | | 西子清洁能源装备制造股份有限公司 一、《关于豁免第六届董事会第二十七次临时会议通知期限的议案》 根据《深圳证券交易所上市公司自律监管指引第 15 号——可转换公司债券》 的规定，上市公司应当在满足可转债赎回条件的当日召开董事会审议决定是否行 使赎回权，为提高议事效率，根据《董事会议事规 ...

Investment Rating - The investment rating for the company is not explicitly stated in the report [1]. Core Views - The company is expected to experience optimistic performance in 2012, driven by stable order volumes and high demand in the waste heat boiler industry [1]. - The company has achieved a new order of 2.784 billion yuan in H1 2025, with a focus on optimizing order structure to support high-quality business development [3]. - The company is actively expanding into the SOFC and nuclear power sectors, indicating a strategic shift towards new growth areas [3][4]. Financial Performance - In H1 2025, the company reported a revenue of 2.794 billion yuan, a year-on-year decrease of 6.49%, and a net profit attributable to shareholders of 148 million yuan, down 56.81% [1]. - The adjusted net profit for H1 2025 was 129 million yuan, reflecting a year-on-year increase of 37.58% [1]. - The gross margin for equipment manufacturing improved to 20.55%, a slight increase of 0.1 percentage points year-on-year [3]. Order and Market Development - The company has a backlog of orders amounting to 6.119 billion yuan as of June 30, 2025, with a focus on enhancing order quality and structure [3]. - Key market expansion areas include new energy markets leveraging molten salt storage technology, nuclear power, and international markets [3][4]. Profit Forecast - The company is projected to achieve revenues of 7.171 billion yuan, 7.929 billion yuan, and 8.501 billion yuan for the years 2025, 2026, and 2027, respectively, with growth rates of 11.4%, 10.6%, and 7.2% [6]. - The net profit attributable to shareholders is expected to be 465 million yuan, 476 million yuan, and 517 million yuan for the same years, with growth rates of 5.8%, 2.4%, and 8.4% [6].

证券日报网讯西子洁能（002534）8月27日在互动平台回答投资者提问时表示，截至2025年8月20日，公 司股东人数为25370户。 ...

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, but showed growth in non-recurring net profit, indicating potential resilience in its core operations [1] Group 1: Financial Performance - In H1 2025, the company achieved total revenue of 2.794 billion yuan, a year-on-year decrease of 6.49% [1] - The net profit attributable to shareholders was 148 million yuan, down 56.81% year-on-year, while the non-recurring net profit was 129 million yuan, up 37.58% year-on-year [1] - The company reported a total of 2.784 billion yuan in new orders in H1 2025, with a backlog of 6.119 billion yuan as of June 30, 2025, supporting future growth [4] Group 2: Business Segments - The company operates in two main business segments: traditional energy and new energy, with a strong market position in waste heat boilers [2] - In H1 2025, revenue from waste heat boilers was 530 million yuan, a decrease of 52.66%, while revenue from clean energy equipment increased by 38.65% to 475 million yuan [4] - The solutions segment saw a significant revenue increase of 50.21%, reaching 1.403 billion yuan, indicating a shift towards comprehensive energy solutions [4] Group 3: Strategic Initiatives - The company is actively expanding into nuclear power and solid oxide fuel cells (SOFC), with strategic partnerships and investments to enhance its capabilities [3] - A joint venture, Hangzhou Xizi Nuclear Energy Technology Co., Ltd., was established to accelerate nuclear power business development [3] - The company reported a strong international presence, with overseas sales reaching 386 million yuan in H1 2025, a year-on-year increase of 48.79% [5] Group 4: Future Outlook - Revenue projections for 2025 to 2027 are 6.731 billion yuan, 7.726 billion yuan, and 8.766 billion yuan, with corresponding growth rates of 4.6%, 14.8%, and 13.5% [6] - Net profit forecasts for the same period are 453 million yuan, 510 million yuan, and 578 million yuan, with growth rates of 3.1%, 12.5%, and 13.3% [6] - The company has been assigned a target price of 16.64 yuan based on a 24x PE ratio for 2026, indicating a positive investment outlook [6]