证券代码：002534 证券简称：西子洁能 编号：2025－118 西子清洁能源装备制造股份有限公司 第六届董事会第三十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"）第六届董事会第 三十次临时会议通知于 2025 年 10 月 22 日以邮件、专人送达等形式发出，会议 于 2025 年 10 月 27 日以通讯表决方式召开，应参加表决董事 9 人，实际参加表 决董事 9 人，符合《中华人民共和国公司法》《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，经全体董事通讯表决形成如下决议： 一、《2025 年第三季度报告》； 表决结果：同意：9 票；反对：0 票；回避：0 票；弃权：0 票。 详细内容见刊登在2025年10月29日《证券时报》《中国证券报》《证券日报》 和公司指定信息披露网站巨潮资讯网http://www.cninfo.com.cn上的《2025年第三 季度报告》。 二、《关于关联交易的议案》； 西子清洁能源装备制造股份有限公司董事会 时报》《中国证券报》《证券日报》 ...

Core Viewpoint - Xizi Clean Energy (002534.SZ) reported a decline in both revenue and net profit for the first three quarters of the year, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the first three quarters was 4.33 billion yuan, a year-on-year decrease of 11.20% [1] - The net profit attributable to shareholders was 177 million yuan, down 58.31% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 150 million yuan, reflecting a year-on-year decline of 11.15% [1]

截至发稿，西子洁能市值为136亿元。 每经头条（nbdtoutiao）——A股突破4000点！十年沉寂终迎爆发，科技主线重塑市场，"慢牛"新格局开 启！ （记者 贾运可） 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%。 每经AI快讯，西子洁能（SZ 002534，收盘价：16.32元）10月28日晚间发布公告称，公司第六届第三十 次董事会临时会议于2025年10月27日以通讯表决方式召开。会议审议了《2025年第三季度报告》等文 件。 ...

Core Insights - The company reported a third-quarter revenue of 1.539 billion, representing a year-on-year decline of 18.64% [1] - The net profit for the third quarter was 28.765 million, down 64.60% year-on-year [1] - For the first three quarters, the total revenue was 4.333 billion, showing a year-on-year decrease of 11.20% [1] - The net profit for the first three quarters was 177 million, reflecting a decline of 58.31% year-on-year [1]

Financial Performance - Revenue for Q3 2025 was CNY 1,538,971,109.10, a decrease of 18.64% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 28,765,044.90, down 64.60% year-on-year[3] - The net profit after deducting non-recurring gains and losses was CNY 21,390,607.43, a decline of 71.63% compared to the previous year[3] - Total operating revenue decreased to ¥4,332,954,971.22 from ¥4,879,586,469.76, representing a decline of approximately 11.2% year-over-year[22] - Operating profit fell to ¥222,373,448.90 compared to ¥514,704,711.52 in the previous period, a decline of approximately 56.9%[23] - Net profit decreased to ¥225,946,289.76 from ¥460,333,970.33, reflecting a drop of around 50.9% year-over-year[24] - Basic and diluted earnings per share decreased to ¥0.24 from ¥0.57, a reduction of approximately 57.9%[24] Cash Flow and Investments - Operating cash flow for the year-to-date reached CNY 347,612,624.71, an increase of 129.75% year-on-year[3] - Cash flow from operating activities generated a net cash inflow of ¥347,612,624.71, compared to ¥151,301,900.04 in the previous period, indicating an increase of about 129.0%[27] - The net cash flow from investment activities dropped by 557.81% to -CNY 438,591,571.10, mainly due to increased cash outflows for structured financial products[10] - Cash flow from investing activities resulted in a net cash outflow of ¥438,591,571.10, contrasting with a net inflow of ¥95,803,124.88 in the prior period[28] - The net cash flow from financing activities improved by 54.96% to -CNY 410,509,635.11, reflecting reduced cash outflows for bank loan repayments[10] - Cash flow from financing activities showed a net cash outflow of ¥410,509,635.11, compared to a larger outflow of ¥911,358,462.84 in the previous period[28] Assets and Liabilities - Total assets at the end of the reporting period were CNY 14,740,702,252.32, a decrease of 1.82% from the end of the previous year[4] - The company's total liabilities decreased from RMB 10,301,414,837.01 to RMB 8,953,265,468.16 during the reporting period[19][20] - The company's cash and cash equivalents decreased from RMB 3,529,696,399.14 to RMB 3,398,815,988.49[17][18] - The company's accounts receivable decreased from RMB 1,828,639,997.29 to RMB 1,504,896,556.30[17][18] - The company's inventory decreased from RMB 1,552,133,132.53 to RMB 1,489,274,254.90[17][18] - The company's total equity increased from RMB 4,711,852,851.82 to RMB 5,787,436,784.16[20] - The company reported a total current liabilities of RMB 7,530,472,562.42, down from RMB 7,970,454,191.04[19][20] Shareholder Information - Shareholders' equity attributable to the parent company increased by 26.37% to CNY 5,332,054,379.94 compared to the previous year[4] - The total number of ordinary shareholders at the end of the reporting period was 31,832[11] - The largest shareholder, Xizi Elevator Group Co., Ltd., holds 34.49% of the shares, totaling 288,349,956 shares[11] - The company repurchased 4,149,500 shares, resulting in a complete cancellation of treasury shares[9] Strategic Initiatives and Market Position - The company is focusing on improving cash collection from orders and managing receivables more effectively[4] - The company reported a revenue increase of 15% year-over-year, reaching 1.2 billion RMB in Q3 2023[30] - User data showed a growth of 25% in active users, totaling 5 million by the end of the quarter[30] - The company provided a forward guidance of 10% revenue growth for Q4 2023, projecting revenues of approximately 1.32 billion RMB[30] - New product launches contributed to a 30% increase in sales volume, with the latest product line accounting for 200 million RMB in revenue[30] - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing energy efficiency[30] - Market expansion efforts have led to a 20% increase in market share in the Asia-Pacific region[30] - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 500 million RMB allocated for this purpose[30] - A strategic partnership was formed with a leading technology firm, expected to drive innovation and reduce costs by 15%[30] - The company reported a gross margin of 40%, an improvement from 35% in the previous quarter[30] - Operating expenses were reduced by 5%, totaling 300 million RMB, contributing to overall profitability[30] Financial Challenges - The company experienced a significant decline in net profit due to a drop in equity disposal gains from the previous year[4] - Financial expenses rose by 298.93% to CNY 32,994,856.19, primarily due to increased foreign exchange losses from USD-denominated assets[9] - Investment income decreased by 90.47% to CNY 27,504,420.10, attributed to last year's significant gains from the transfer of equity in a subsidiary[9] - Tax expenses decreased by 89.82% to CNY 5,460,475.07, as last year's high tax was linked to significant investment income[9]

Core Viewpoint - An increasing number of "post-00s" girls, like Li Hongyan, are graduating from technical schools and entering workshops, becoming new backbones and contributing to "Made in China" [2] Group 1 - The trend of young women entering the manufacturing sector is growing, indicating a shift in workforce demographics [2] - These individuals are playing a significant role in enhancing the capabilities of the manufacturing industry in China [2]

Core Viewpoint - Xizi Clean Energy experienced a 1.72% increase in stock price on October 23, with a trading volume of 226 million yuan, indicating strong market interest and activity in the stock [1]. Financing Summary - On October 23, Xizi Clean Energy had a financing buy-in amount of 21.14 million yuan and a net financing buy of 5.56 million yuan, with a total financing balance of 235 million yuan, accounting for 1.70% of its market capitalization [1]. - The financing balance is above the 90th percentile level over the past year, indicating a high level of investor engagement [1]. Securities Lending Summary - On the same day, Xizi Clean Energy had 2,400 shares sold short and 1,700 shares repaid, with a total short selling amount of 39,600 yuan [1]. - The current short balance is 82,430 yuan, also exceeding the 90th percentile level over the past year, suggesting significant short interest [1]. Business Performance Summary - For the first half of 2025, Xizi Clean Energy 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% year-on-year [2]. - The company has cumulatively distributed 1.923 billion yuan in dividends since its A-share listing, with 295 million yuan distributed over the past three years [3]. Shareholder Structure Summary - As of September 30, the number of shareholders increased by 6.31% to 31,800, while the average number of circulating shares per person decreased by 5.93% to 25,909 shares [2]. - Notable institutional shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 292,400 shares, and several ETFs that have also increased their positions [3].

Core Viewpoint - The company is actively exploring comprehensive energy management solutions in the data center and computing power center sectors, focusing on waste heat recovery and cooling energy needs [1] Group 1: Company Developments - The company reported that the domestic power grid is well-developed and electricity supply is sufficient [1] - The company is involved in providing waste heat boiler products, which are essential equipment for gas-fired power plants under 100MW in the U.S. and Europe [1] - The company is also actively participating in the provision of distributed power plant solutions [1]

Company Overview - Xizi Clean Energy Equipment Manufacturing Co., Ltd. was established in 2002 and listed on the Shenzhen Stock Exchange in 2011, rebranded in 2022 [3][4] - The company specializes in waste heat boilers, clean energy power generation equipment, and provides comprehensive solutions for energy utilization [3][4] Business Segments - The company operates in four main business areas: waste heat boilers, clean energy equipment, solutions, and spare parts/services [4] - Key products include various types of waste heat boilers and clean energy equipment such as biomass boilers and nuclear power equipment [4] Solar Thermal Market Participation - The company participates in the solar thermal power generation industry, focusing on heat absorption, heat exchange, and heat storage systems [5] - It has been involved in 17 solar thermal demonstration projects since 2010, including the Qinghai Delingha 50MW project, which is the first commercial molten salt solar thermal power plant in China [5][6] Industry Development and Future Plans - The solar thermal power technology is becoming a crucial support for low-carbon development in China, with new projects like the 350MW independent solar thermal power stations in Qinghai [6][7] - The company aims to secure orders for three 350MW projects, leveraging its market and technological advantages [7] Growth Markets - The company is targeting the renewable energy and energy storage markets, particularly through molten salt storage technology [8] - It is also focusing on the nuclear power market, enhancing its manufacturing capabilities and establishing a joint venture for nuclear energy opportunities [9][10] - The overseas market is a priority, with plans to expand its international presence, particularly in Southeast Asia [13][14] Nuclear Power Sector - The company has over 20 years of experience in the nuclear power sector, providing numerous pressure vessels and heat exchangers for various nuclear power plants [9][10] - It is actively pursuing opportunities in advanced nuclear technologies and fusion energy projects [10] Coal Chemical Industry in Xinjiang - The company plans to participate in the coal chemical sector in Xinjiang, focusing on mature products like heat exchangers and condensers [11] Data Center Solutions - The company is exploring energy management solutions for data centers, particularly in the U.S. market, where gas turbine power plants are seen as a key interim solution [12] Investment in New Technologies - The company holds a 6.2281% stake in Hangzhou Zhongneng Optoelectronics, which is advancing in perovskite solar cell technology [14]

Core Insights - Xizi Clean Energy (西子洁能) is actively engaging with institutional investors to discuss its business operations and market opportunities [1] Business Overview - Xizi Clean Energy has a long history since its establishment in 1955 and was listed on the Shenzhen Stock Exchange in 2011. The company operates in multiple sectors, including waste heat boilers, clean energy equipment, solutions, spare parts, and services [2] Development Plans - In the solar thermal industry, the company aims to secure orders for three 350 MW solar thermal power plants in Qinghai Province, leveraging its strengths to transition into the solar thermal 4.0 model [3] - The company is exploring green electricity direct connection mechanisms and has established a zero-carbon factory and large-scale user-side molten salt energy storage projects to support low-carbon transformations in industrial parks [4] - With over 20 years of experience in the nuclear power sector, Xizi Clean Energy plans to enhance its layout by upgrading manufacturing workshops and establishing joint ventures focused on nuclear island equipment R&D and controllable nuclear fusion projects by 2025 [5] Market Expansion - The company is pursuing growth in the new energy and energy storage markets by expanding application scenarios based on molten salt storage technology, while also enhancing its manufacturing capabilities in the nuclear power sector and increasing its international market share [6] - Xizi Clean Energy is focusing on Southeast Asia, South America, and countries along the Belt and Road Initiative for overseas market expansion. The recognition of domestic brands is increasing, leading to a rise in overseas orders since 2024, which has become a significant part of the company's performance growth [7]