截至2025年8月14日收盘，大连电瓷股价报9.57元，较前一交易日下跌0.22元，跌幅2.25%。当日成交量 为11.69万手，成交金额达1.13亿元。 公司近期披露，2025年已中标国内特高压线路及国网批次集中采购项目超7亿元，并在沙特、菲律宾、 孟加拉等国家电力项目中取得大额订单，新签海外订单创历史同期新高。8月13日，公司接待了多家机 构调研，就业务发展情况及未来规划进行交流。 资金流向方面，8月14日主力资金净流出1537.45万元，近五日累计净流出1785.12万元。 风险提示：以上内容不构成投资建议，市场有风险，投资需谨慎。 大连电瓷主营业务为输电线路用瓷、复合绝缘子等产品的研发、生产和销售。公司产品广泛应用于电力 系统输电线路建设，严格执行国际电工委员会标准及多国标准，客户包括国内外电网公司及其下属单 位。公司拥有大连、福建、江西三大生产基地，其中江西工厂二期工程预计三季度投产，届时标准设计 产能将达8万吨/年。 ...

证券代码：002606 证券简称：大连电瓷 编号：2025-002 大连电瓷集团股份有限公司 投资者关系活动记录表 A5:从过往几年平均水平来看，特高压产品毛利率大致维持在 35%到40%之间，根据每条线路使用产品的不同，产品价格有一 些差异。对于常规产品一般来说比特高压产品毛利率低约十来个 点左右。 Q6:瓷、玻璃、复合三种产品的区别及优劣势情况如何？ A6:绝缘子从材质上分为瓷、玻璃和复合硅橡胶。瓷绝缘子的 绝缘件由电工陶瓷制成，瓷质材料化学性能稳定，具有抗老化性 能强，机械和电气性能稳定的优点，瓷件表面通常以瓷釉覆盖， 防水浸润，增加表面光滑度，可提高其机械强度。在三类绝缘子 中，瓷绝缘子使用最为普遍。 复合绝缘子绝缘件由玻璃纤维树脂芯棒（或芯管）和有机硅橡 胶护套及伞裙组成，其特点是尺寸小、重量轻，抗拉强度高，抗 污秽闪络性能优良，但抗老化能力不如瓷和玻璃绝缘子。 玻璃绝缘子则是利用钢化玻璃作为绝缘体，耐气候老化性能良 好，具有自爆、易检测的特点，维护成本较低，寿命相较于复合 绝缘子较长；但由于电压等级较高时，自爆率偏高，适用于人烟 稀少的地方。 电力用户在不同输电线路根据途径地域的地理、气候、环境等 ...

Core Viewpoint - Company achieved significant success in securing contracts for high-voltage power lines and international projects, indicating strong market demand and operational stability [1] Group 1: Domestic Achievements - Company won contracts worth approximately 658 million yuan in high-voltage power line projects, including Gansu-Zhejiang, Yanwei, and Datong-Tianjin South lines [1] - The company is actively participating in the State Grid's centralized procurement projects, further enhancing its domestic market presence [1] Group 2: International Expansion - Company has successfully expanded its overseas market presence, securing large orders in power projects in countries such as Saudi Arabia, the Philippines, and Bangladesh [1] - The new overseas orders signed in the first half of the year reached a historical high for the same period, showcasing the company's growing international footprint [1] Group 3: Operational Performance - All production facilities are operating stably, with a high capacity utilization rate, reflecting efficient operational management [1]

格隆汇8月7日丨大连电瓷(002606.SZ)于投资者互动平台表示，公司上半年在甘肃—浙江、烟威送出、 大同—天津南等特高压线路及国网批次集中采购项目中标约6.58亿元；同时，公司持续深化海外市场的 开拓，在沙特、菲律宾、孟加拉等国家电力项目中取得大额订单，上半年新签海外订单创历史同期新 高。目前公司各生产装置运行稳定，产能利用率处于较高水平。 ...

根据公示一，大瓷材料为国家电网有限公司 2025 年第三十三批采购（输变电 项目第三次线路装置性材料招标采购）～瓷绝缘子包 1、包 2 以及复合绝缘子包 4 的推荐中标候选人。根据该公示内容，大瓷材料预中标瓷绝缘子 105,000 余片、复 合绝缘子 9,100 余支，预中标金额合计约 5,700 万元。 证券代码：002606 证券简称：大连电瓷 公告编号：2025-034 大连电瓷集团股份有限公司 关于国家电网预中标的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 2025 年 7 月 11 日，国家电网有限公司通过其电子商务平台发布了"国家电网 有限公司 2025 年第三十三批采购（输变电项目第三次线路装置性材料招标采购） 推荐的中标候选人公示"（以下简称"公示一"）和"国家电网有限公司 2025 年第四 十三批采购（输变电项目第三次变电设备（含电缆）招标采购）推荐的中标候选人 公示"（以下简称"公示二"）。大连电瓷集团股份有限公司（以下简称"公司"）的 全资子公司大连电瓷集团输变电材料有限公司（以下简称"大瓷材料"）为推荐中标 候选人，现将 ...

Investment Rating - The report assigns a "Buy" rating to the company, with a target price of 10.92 CNY based on a closing price of 9.10 CNY [5]. Core Views - The company is a leading player in the porcelain insulator industry, with strong overseas order performance and a significant increase in revenue and profit in 2024 [1][2]. - The company has established a solid international marketing network and is expanding its production capacity, particularly in Jiangxi, which is expected to enhance its revenue growth [2][3]. Summary by Sections 1. Leading Company in Porcelain Insulators - Dalian Electric Porcelain Group was founded in 1915 and listed in 2011, with a comprehensive product matrix that meets various national industry standards [14]. - The company has a strong historical presence in the international market, having supplied products for the first domestic and world high-voltage lines [14]. 2. Accelerated Construction of UHV Projects - The demand for porcelain insulators is driven by the increasing domestic electricity consumption and investment in the power grid, with a notable rise in UHV construction [37][40]. - In 2024, the total electricity consumption in China reached 98,521 billion kWh, with a 15.3% increase in grid investment [37]. 3. Stable Leadership and Growth Potential - The management team has extensive experience and a long-term strategic vision, with significant improvements in company performance since 2019 [3][67]. - The company has a leading position in the domestic bidding for UHV porcelain insulators, with a market share of 28% in 2024 and 46% in 2025 for UHV porcelain insulators [2][67]. 4. Financial Performance and Forecast - In 2024, the company achieved a revenue of 1.496 billion CNY, a year-on-year increase of 78.21%, and a net profit of 211 million CNY, up 303.3% [22][4]. - The forecast for 2025-2027 anticipates revenues of 1.723 billion CNY, 1.950 billion CNY, and 2.168 billion CNY, with corresponding net profits of 230 million CNY, 280 million CNY, and 330 million CNY [3][4].

Core Viewpoint - The announcement details the completion of the share reduction plan by the company's actual controller and senior management, confirming that the plan was executed in accordance with prior disclosures and regulations [2][5]. Shareholder Reduction Plan Implementation - The actual controller and chairman, Mr. Shen Jian, along with Vice General Manager Ms. Chen Lingmin and Vice General Manager and CFO Mr. Li Jun, planned to reduce their holdings by up to 5,972,500 shares, representing 1.3736% of the total share capital excluding repurchased shares [2]. - Ms. Chen Lingmin reduced her holdings by 98,750 shares, accounting for 0.0227% of the total share capital excluding repurchased shares and 0.0225% of the total share capital [3][4]. - Mr. Li Jun reduced his holdings by 93,750 shares, representing 0.0216% of the total share capital excluding repurchased shares and 0.0214% of the total share capital [3][4]. Shareholding Details - Prior to the reduction, Ms. Chen held 4,279,400 shares, and after the reduction, she holds 4,180,650 shares [3]. - Mr. Li held 4,375,000 shares before the reduction, and after the reduction, he holds 4,281,250 shares [3][4]. - The reductions were executed through centralized bidding during the period from June 24 to June 23, 2025, with average prices of 9.03 yuan and 9.04 yuan per share for Ms. Chen and Mr. Li, respectively [3][4]. Compliance and Impact - The company confirms that the share reduction does not violate any commitments and will not lead to a change in control or significantly impact the governance structure or ongoing operations [5]. - The company has adhered to the relevant laws and regulations regarding shareholder and executive share reductions [4][5].

证券代码：002606 证券简称：大连电瓷 公告编号：2025-033 大连电瓷集团股份有限公司 关于公司董事、高级管理人员 减持计划期限届满暨实施情况的公告 公司董事兼副总经理陈灵敏女士以及公司副总经理兼财务总监兼董事会秘 书李军先生保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 大连电瓷集团股份有限公司（以下简称"公司"）于 2025 年 2 月 28 日披露 了《关于公司实际控制人及董事、高级管理人员减持计划的预披露公告》（公告 编号：2025-004），公司实际控制人及公司董事长应坚先生、公司董事兼副总经 理陈灵敏女士以及公司副总经理兼财务总监兼董事会秘书李军先生计划在本减 持计划公告之日起 15 个交易日后三个月内（窗口期不得减持），以集中竞价或 大宗交易方式减持其持有的公司股份不超过 597.25 万股（占公司剔除回购专用 账户股份后的总股本比例 1.3736%，占公司总股本 1.3603%）。公司实际控制人 及公司董事长应坚先生减持计划已实施完成。具体内容详见 2025 年 6 月 7 日刊 ...

Core Viewpoint - The demand for suspension insulators in China is increasing due to urbanization and the need for upgraded electrical infrastructure, particularly in high-voltage transmission lines and smart grid construction, despite a temporary decline in market size in 2023 [1][12]. Industry Overview - Suspension insulators are critical components used to support and insulate high-voltage power lines, made from materials like glass, ceramics, and composite materials [3][5]. - The industry has evolved from simple ceramic and glass designs to advanced materials like silicone rubber and composites, enhancing performance and durability [5]. Market Dynamics - The market size for suspension insulators in China saw a continuous increase from 2020 to 2022, but experienced a 25.85% decline in 2023 due to insufficient domestic demand and intensified competition [1][12]. - A recovery is expected in 2024, with the market size projected to reach 4.134 billion yuan, reflecting a year-on-year increase of 78.86% driven by increased investment in ultra-high voltage networks [1][12]. Investment Trends - China's investment in the power grid is projected to grow from 469.9 billion yuan in 2020 to 608.3 billion yuan in 2024, with a 14.60% increase in the first four months of 2025 [10]. - This investment surge is anticipated to boost the demand for suspension insulators significantly, as they are essential for the construction and maintenance of power transmission systems [10]. Competitive Landscape - The Chinese suspension insulator market is characterized by numerous domestic companies, including Dalian Electric Porcelain Group, Nanjing Electric Group, and Zhejiang Jinlihua Electric Equipment, each with strengths in various market segments [16][17]. - Competition is fierce in the mid-to-low-end product market, while a few companies dominate the high-end market, particularly in ultra-high voltage insulators [16]. Export and Import Dynamics - China primarily exports suspension insulators, benefiting from competitive pricing, quality, and delivery times, while imports focus on high-performance insulators for specific applications [14]. - In the first four months of 2025, China imported 0.09 million tons and exported 11.12 million tons of insulators, indicating a strong export orientation [14]. Future Development Trends - The industry is moving towards smart insulators integrated with sensors for real-time monitoring of operational conditions, enhancing reliability and maintenance efficiency [21]. - There is a growing emphasis on developing high-performance products to meet the demands of high and ultra-high voltage transmission lines, necessitating increased R&D investments [22][23]. - The Belt and Road Initiative is opening new markets for suspension insulator companies, encouraging local production and technological collaboration to meet regional demands [24].

Core Viewpoint - The actual controller of Dalian Electric Porcelain Group Co., Ltd., Mr. Ying Jian, has completed a share reduction plan, reducing his holdings by 5.78 million shares, which is approximately 1.33% of the company's total share capital [2][3][8]. Shareholder Reduction Plan Implementation - Mr. Ying Jian directly held 5.2698% of the company's total share capital and indirectly held 19.5679% through the controlling shareholder Hangzhou Ruiqi Information Technology Partnership [2]. - The reduction occurred from May 22, 2025, to June 6, 2025, through centralized bidding, with an average reduction price of 8.68 yuan per share [3][4]. - After the reduction, Mr. Ying Jian's holdings decreased to 2,313.822 million shares, representing 5.3217% of the total share capital [4][5]. Shareholding Structure Post-Reduction - Post-reduction, Mr. Ying Jian and Hangzhou Ruiqi collectively hold 10,821.822 million shares, accounting for 24.8895% of the total share capital [4][5]. - The reduction did not violate any commitments or regulations, and the actual number of shares reduced did not exceed the planned amount [8].