证券代码：002630 证券简称：ST 华西 公告编号：2025-034 华西能源工业股份有限公司 股票交易异常波动公告 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。 一、股票交易异常波动的情况介绍 华西能源工业股份有限公司（证券代码 002630、证券简称 ST 华西，以下简 称"公司"）股票连续三个交易日内（2025 年 5 月 7 日、5 月 8 日、5 月 9 日） 日收盘价格跌幅偏离值累计超过 12%，根据《深圳证券交易所交易规则》有关规 定，属于股票交易异常波动情形。 二、关注、核实情况 1．公司前期披露的信息不存在需要更正之处。 2．公司未发现近期公共传媒报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息。 3．经核实，公司目前生产经营情况正常，未发生重大变化。 4．公司不存在关于本公司的应披露而未披露的重大事项，或处于筹划阶段 的重大事项。 5．控股股东及实际控制人不存在关于本公司的应披露而未披露的重大事项， 或处于筹划阶段的重大事项。 6．经查询，在本次股票交易异常波动期间，公司控股股东、实际控制人未 买卖公司股票。 三、是 ...

Investment Rating - The report maintains an "Overweight" rating for the power equipment and new energy industry [2] Core Insights - In Q1 2025, national grid engineering investment reached 95.6 billion yuan, a year-on-year increase of 24.8% [42] - The report highlights the rapid growth trend in grid investment and suggests focusing on leading companies benefiting from increased domestic infrastructure investment [3][67] Market Review - As of May 8, 2025, the Shenwan power equipment industry rose by 4.41% over the past two weeks, outperforming the CSI 300 index by 2.60 percentage points, ranking 7th among 31 industries [10] - The wind power equipment sector increased by 4.57%, the photovoltaic equipment sector by 5.69%, and the battery sector by 4.06% during the same period [11][12] Valuation and Industry Data - As of May 8, 2025, the price-to-earnings (P/E) ratio for the power equipment sector is 24.50 times, with sub-sectors showing varied P/E ratios: motors at 51.04, photovoltaic equipment at 17.54, and wind power equipment at 30.52 [25][21] - The report indicates that the photovoltaic equipment sector has seen a year-to-date decline of 13.31%, while the motor sector has increased by 22.44% [15] Company Announcements - The report notes that leading companies such as Zhongchao Holdings, Huamin Co., and Zhenjiang Co. have shown significant stock price increases of 38.95%, 29.66%, and 28.37% respectively over the past two weeks [17] - Conversely, companies like Huaxi Energy, Mubang High-tech, and Hezhong Technology have experienced declines of 28.74%, 28.38%, and 26.91% respectively [18]

证券代码：002630 证券简称：ST 华西 公告编号：2025-033 华西能源工业股份有限公司 股票交易异常波动公告 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。 一、股票交易异常波动的情况介绍 2．公司未发现近期公共传媒报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息。 华西能源工业股份有限公司（证券代码 002630、证券简称 ST 华西，以下简 称"公司"）股票连续两个交易日内（2025 年 4 月 30 日、5 月 6 日）日收盘价格 跌幅偏离值累计超过 12%，根据《深圳证券交易所交易规则》有关规定，属于股 票交易异常波动情形。 3．近期公司经营情况及内外部经营环境未发生重大变化。 二、关注、核实情况 4．公司不存在关于本公司的应披露而未披露的重大事项，或处于筹划阶段 的重大事项。 1．公司前期披露的信息不存在需要更正、补充之处。 6．经查询，在本次股票交易异常波动期间，公司控股股东、实际控制人未 买卖公司股票。 三、是否存在应披露而未披露信息的说明 本公司董事会确认，公司目前没有任何根据深圳证券交易所《股票上市规则》 等有关 ...

Group 1 - The biomass power generation sector experienced a decline of 0.90%, ranking among the top losers in the concept sector, with ST Xindong and ST Huaxi hitting the limit down [1][2] - Notable declines within the sector included Shengyuan Environmental Protection and Shaoneng Co., with significant losses, while 15 stocks saw price increases, led by Wangneng Environment, Fulongma, and Wuhan Tianyuan, which rose by 10.00%, 5.63%, and 3.58% respectively [1][2] - The sector saw a net outflow of 81 million yuan from main funds, with 26 stocks experiencing outflows, and 7 stocks seeing outflows exceeding 10 million yuan, with Shaoneng Co. leading the outflow at 51.68 million yuan [2][3] Group 2 - The top stocks with net outflows included Shengyuan Environmental Protection, Jinhua Industrial, and China Tianying, with outflows of 41.22 million yuan, 25.02 million yuan, and 15.43 million yuan respectively [2][3] - Conversely, the stocks with the highest net inflows were Fulongma, Wangneng Environment, and Jiuzhou Group, with inflows of 35.52 million yuan, 35.52 million yuan, and 25.35 million yuan respectively [2][3] - The trading activity indicated that the biomass power generation sector had a significant turnover rate, with stocks like Shaoneng Co. and Shengyuan Environmental Protection showing turnover rates of 15.20% and 13.22% respectively [3]

Core Viewpoint - Huaxi Energy has revised its 2024 performance forecast from a profit of approximately 100 million to a loss of about 400 million, which has raised concerns among investors and may lead to shareholder rights protection actions [1][4][7]. Financial Performance Summary - The company reported a net profit of 30 million, but the revised forecast indicates a loss of 378 million, compared to a previous loss of 184.77 million [4]. - Basic earnings per share changed from a profit of 0.0254 to a loss of 0.3226, reflecting a significant decline in financial health [4]. - Operating revenue was reported at 2.7 billion, with a revised figure of 2.6 billion after adjustments [4]. Investor Reaction and Rights Protection - Following the announcement, the stock price hit the daily limit down, causing significant losses for retail investors, prompting discussions on potential compensation claims against the company [4][7]. - Shareholder rights protection actions have commenced, with eligibility for participation requiring purchase of shares before April 25, 2025, and holding them until the same date [7]. Company Disclosure and Compliance - Huaxi Energy has faced scrutiny from regulators in the past, receiving various inquiries and warnings, indicating a need for improved information disclosure practices [9]. - The company's information disclosure assessment ratings have remained consistent at a grade B for the past three years, suggesting average performance in this area [10].

证券代码：002630 证券简称：华西能源 公告编号：2025-029 华西能源工业股份有限公司 第六届监事会第八次会议决议公告 （一）审议通过《公司 2025 年第一季度报告》 公司董事会根据有关法律法规和中国证监会、深圳证券交易所的有关规定， 依照法定程序，编制了《公司 2025 年第一季度报告》，公司董事、高级管理人员 签署了关于 2025 年第一季度报告的书面确认意见，报告内容真实、准确、完整 地反映了公司的实际情况，不存在虚假记载、误导性陈述或重大遗漏，符合有关 法律、法规和规范性文件的要求。 《公司 2025 年第一季度报告》详见《中国证券报》、《上海证券报》、《证券 时报》、《证券日报》以及巨潮资讯网（www.cninfo.com.cn）。 审议结果：表决票 5 票，赞成票 5 票，反对票 0 票，弃权票 0 票。 三、备查文件 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、监事会召开情况 华西能源工业股份有限公司（以下简称"公司"）第六届监事会第八次会议于 2025 年 4 月 29 日在公司科研大楼以现场表决结合通讯表决方式召开，会议通 ...

证券代码：002630 证券简称：华西能源 公告编号：2025-028 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会召开情况 华西能源工业股份有限公司（以下简称"公司"）第六届董事会第十四次会 议（以下简称"会议"）于 2025 年 4 月 29 日在公司科研大楼会议室以现场结合 通讯表决方式召开。会议通知于 2025 年 4 月 23 日以电话、书面形式发出。会议 应参加董事 9 人，实参加董事 9 人。公司监事、高级管理人员列席会议。会议的 召集、召开符合《公司法》和《公司章程》的有关规定。 二、董事会审议情况 会议由半数以上董事推举公司董事黄有全先生主持，经全体董事审议并以记 名投票方式表决，会议通过了如下决议： （一）审议通过《公司 2025 年第一季度报告》 公司董事会根据有关法律法规和中国证监会、深圳证券交易所的有关规定， 依照法定程序，编制了《公司 2025 年第一季度报告》，公司董事、高级管理人员 签署了关于 2025 年第一季度报告的书面确认意见，报告内容真实、准确、完整 地反映了公司的实际情况，不存在虚假记载、误导性陈述或重大 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥696,129,289.89, a decrease of 15.15% compared to ¥820,463,804.25 in the same period last year[5] - The net profit attributable to shareholders was ¥16,854,197.17, down 63.80% from ¥46,558,126.67 year-on-year[8] - The basic and diluted earnings per share decreased to ¥0.0143, down 63.71% from ¥0.0394 in the same period last year[5] - Net profit for the period was ¥12,968,456.95, down from ¥42,791,762.74, indicating a decline of approximately 69.7% year-over-year[26] - The net profit attributable to the parent company was ¥16,854,197.17, compared to ¥46,558,126.67 in the previous period, a decrease of about 63.8%[26] - The company reported a total comprehensive income of ¥12,981,544.12, down from ¥42,791,887.52, indicating a decrease of approximately 69.7% year-over-year[26] Cash Flow - The net cash flow from operating activities improved significantly to ¥56,562,287.60, compared to a negative cash flow of ¥331,854,369.39 in the previous year, marking a 117.04% increase[5] - Cash flow from operating activities increased to ¥215,443,701.61 from ¥201,479,198.75, showing a growth of about 6.5% year-over-year[27] - The net cash flow from operating activities was $56,562,287.60, a significant improvement compared to a negative cash flow of -$331,854,369.39 in the previous period[28] - Total cash outflow for operating activities was $226,186,272.08, down from $606,769,129.91 in the previous period[28] - The company received $5,320,000.00 from investment activities, reflecting a positive trend in capital inflow[28] - The company received government subsidies amounting to ¥702,484.77 during the reporting period[6] Assets and Liabilities - Total assets increased by 1.70% to ¥9,793,252,446.68 from ¥9,629,197,683.24 at the end of the previous year[5] - Total current assets amount to 4,468,714,348.31 CNY, an increase from 4,289,614,941.27 CNY at the beginning of the period[21] - Total liabilities increased to ¥9,486,208,139.14 from ¥9,285,745,208.44, an increase of approximately 2.2%[22] - Total equity attributable to shareholders decreased to ¥162,584,884.30 from ¥200,427,311.34, a decline of about 18.9%[22] - Non-current liabilities increased to ¥3,884,092,233.65 from ¥3,796,845,295.96, reflecting an increase of approximately 2.3%[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 65,626[16] - The largest shareholder, Li Renchao, holds 13.07% of shares, amounting to 154,275,680 shares, with 107,000,000 shares pledged[16] Operational Metrics - The company's R&D expenses rose by 33.00% to ¥10,997,427.68 from ¥8,268,858.94 year-on-year[11] - The investment income dropped significantly by 92.76% to ¥4,010,179.46 from ¥55,405,629.44 in the previous year, primarily due to reduced profits from invested companies[11] - The accounts receivable increased by 59.08% to ¥14,715,867.36 due to increased transactions settled via commercial acceptance bills[9] - Accounts receivable increased to 654,722,021.55 CNY from 524,937,899.34 CNY, reflecting a growth of approximately 24.6%[21] - Inventory has risen to 601,055,411.53 CNY, up from 476,833,125.50 CNY, indicating a growth of about 26.1%[21] - Accounts payable rose to 2,841,904,901.32 CNY from 2,701,623,384.69 CNY, showing an increase of approximately 5.2%[21] Contracts and Projects - The company has signed significant contracts, including a project in Laos, with some progress payments received[18] Cost Management - Total operating costs decreased to ¥665,359,735.52 from ¥793,116,944.83, a reduction of about 16.1% year-over-year[25] - The company reported a significant decrease in tax expenses, with a 96.40% reduction in taxes paid compared to the previous year[14]

Core Viewpoint - The implementation of the new "National Nine Articles" and accompanying delisting regulations has tightened financial delisting indicators, creating significant pressure for underperforming companies in the A-share market [1][5]. Group 1: Delisting Risk Warnings - As of April 28, 2024, a total of 41 companies will be subject to risk warnings due to financial non-compliance and internal control deficiencies, with their stock being suspended for one day on April 29 and renamed starting April 30 [2][3]. - Since the beginning of the year, 99 companies have been subjected to risk warnings, with 74 facing delisting risk due to market capitalization and 25 receiving other risk warnings [2]. - Companies like Guohua Network Security reported negative profits and revenues below 300 million yuan, triggering delisting risk warnings under the Shenzhen Stock Exchange rules [2][3]. Group 2: New Delisting Regulations - The new delisting regulations, effective from 2024, include stricter financial, trading, compliance, and major violation indicators for delisting risk warnings [5][6]. - The revenue threshold for main board companies has been raised from 10 million yuan to 30 million yuan, increasing the elimination of underperforming companies [6]. - The market capitalization delisting threshold for main board A-shares has been increased from 300 million yuan to 500 million yuan, while thresholds for the Sci-Tech Innovation Board and Growth Enterprise Market remain unchanged at 300 million yuan [6]. Group 3: Market Impact and Investor Protection - The new delisting regulations aim to enhance the overall quality of listed companies by increasing delisting standards and reducing the value of "shell" resources, effectively driving out underperforming entities [7]. - The regulations also emphasize deterrence against financial fraud and governance issues, making it more challenging to engage in shell trading [7]. - The implementation of these regulations is expected to accelerate the market's cleansing process, with a higher likelihood of companies being forcibly delisted due to financial misconduct [7].

Summary of Key Points Core Viewpoints - The report highlights the ongoing trend of stock suspensions due to delisting risk warnings across multiple companies, indicating a potential downturn in market confidence and stability [2][3][4]. Company Listings - Several companies are scheduled for initial public offerings (IPOs) on April 29, 2025, including Tai Li Technology (301595) and Ze Run New Energy (301636), which may attract investor interest [1]. - The report notes the specific dates for various IPO-related activities, such as inquiry periods and fund unfreezing dates, which are crucial for market participants [1]. Stock Suspension Announcements - Numerous companies, including Guohua Network Security (000004) and Nanhua Biology (000504), have announced stock suspensions due to delisting risk warnings, reflecting a significant concern regarding their financial health [2][3]. - The report lists a total of 30 companies facing stock suspensions on April 29, 2025, due to various risk warnings, which may impact investor sentiment and trading volumes [2][3][4]. Special Suspensions - Companies like *ST Xu Lan (000040) and *ST Gong Zhi (000584) are highlighted for potential termination of listings, indicating severe financial distress and regulatory scrutiny [4][5]. - The report emphasizes the importance of monitoring these companies as their situations evolve, which could present both risks and opportunities for investors [4][5].