Core Insights - The boiler manufacturing industry in China is transitioning towards energy efficiency, environmental protection, and user-friendliness, as highlighted in the "13th Five-Year Plan" which emphasizes energy-saving actions across various sectors [1] Policy Overview - The Chinese government has introduced several key policies aimed at enhancing the safety and efficiency of boiler manufacturing, including the "Boiler Safety Improvement Action Plan" set for implementation by April 2025, which targets the elimination of safety hazards in small boilers [3] - The "2024-2025 Energy Saving and Carbon Reduction Action Plan" mandates specific energy-saving and carbon reduction targets for key industries, promoting the adoption of high-efficiency boiler technologies [3] - The "Guidelines for Accelerating the Construction of Waste Resource Utilization Systems" encourage the utilization of industrial waste heat and resources, further supporting the boiler industry's transition to greener practices [3] Industry Development Goals - The industry aims to continuously improve the energy efficiency of equipment systems, focusing on the application of high-efficiency energy equipment and the renovation of existing energy-consuming devices [15] - There is a push for the development of integrated services for high-efficiency and energy-saving boilers, including design, production, installation, and operation [15] - The promotion of low-carbon transformation in industrial energy use is emphasized, particularly in sectors such as copper, iron, petrochemicals, and building materials, advocating for the use of electric heating technologies [15] Provincial Policies - Various provinces are implementing their own policies to support the boiler manufacturing industry, such as Beijing's initiative to enhance the efficiency of gas boilers and promote electric heating systems [16] - In Hebei, a plan has been established to encourage the replacement of old equipment with energy-efficient models, aligning with national energy-saving goals [16] - Inner Mongolia's policy aims for over 80% of steel production capacity to achieve ultra-low emissions by 2025, which includes the comprehensive implementation of low-emission standards for coal-fired boilers [16]

Core Viewpoint - The other power equipment sector experienced a significant increase of 3.7% on December 24, with Xinle Energy leading the gains, reflecting positive market sentiment in this industry [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3940.95, up by 0.53%, while the Shenzhen Component Index closed at 13486.42, up by 0.88% [1]. - Notable stocks in the other power equipment sector included: - Xinfu Energy (300593) with a closing price of 30.24, up by 20.00% and a trading volume of 632,300 shares, totaling a transaction value of 1.83 billion [1]. - Zhongheng Electric (002364) closed at 27.67, up by 10.02% with a trading volume of 547,300 shares [1]. - Jinshi Technology (002951) closed at 15.29, up by 10.00% with a transaction value of 209 million [1]. Group 2: Capital Flow - The other power equipment sector saw a net inflow of 1.933 billion in main funds, while retail investors experienced a net outflow of 762 million [2]. - The capital flow for key stocks included: - Maigemit (002851) had a main fund net inflow of 460 million, but retail funds saw a net outflow of 189 million [3]. - Zhongheng Electric (002364) had a main fund net inflow of 401 million, with retail funds experiencing a net outflow of 210 million [3]. - Shanghai Electric (601727) recorded a main fund net inflow of 83.28 million, while retail funds had a net outflow of 21.53 million [3].

Core Viewpoint - The industrial boiler market in China is experiencing a mixed trend, with a projected production increase in 2025 but a cumulative decline observed in the first ten months of 2025 [1] Group 1: Industry Overview - The production of industrial boilers in China is expected to reach 19,000 tons of evaporation capacity in October 2025, representing a year-on-year growth of 6.4% [1] - Cumulatively, the production of industrial boilers from January to October 2025 is reported to be 158,000 tons of evaporation capacity, showing a decline of 8% compared to the previous year [1] Group 2: Companies Mentioned - Listed companies in the industrial boiler sector include Huaguang Huaneng (600475), Chuanrun Co., Ltd. (002272), Hailu Heavy Industry (002255), Huaxi Energy (002630), and Dongfang Electric (600875) [1] Group 3: Research and Analysis - The report titled "2025-2031 China Industrial Boiler Industry Market Special Research and Development Strategy Analysis Report" by Zhiyan Consulting provides insights into the market trends and strategies for the industrial boiler sector [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services for investment decisions [1]

Industry Overview - The boiler manufacturing industry in China has a limited number of publicly listed companies, with key players including Xizi Clean Energy, Huaguang Huaneng, Chuanrun Co., Hailu Heavy Industry, Huaxi Energy, and Dongfang Boiler [1][2][3] - The industry is characterized by a large upstream and downstream supply chain, with significant growth potential in energy efficiency technologies [1] Company Summaries - Xizi Clean Energy, established in 1955, has a registered capital of 835.93 million yuan and focuses on various types of boilers, including waste heat and biomass boilers, with a revenue of 64.37 billion yuan and a boiler business income of 22.28 billion yuan [10][14] - Huaguang Huaneng, founded in 2000, has a registered capital of 955.97 million yuan and specializes in energy and environmental sectors, reporting a total revenue of 91.13 billion yuan and a boiler business income of 17.42 billion yuan [10][14] - Chuanrun Co., established in 1997, has a registered capital of 484.88 million yuan, focusing on boiler manufacturing and related services, with a total revenue of 15.98 billion yuan and a boiler business income of 6.60 billion yuan [10][14] - Hailu Heavy Industry, founded in 2000, has a registered capital of 830.88 million yuan, with a total revenue of 27.89 billion yuan and a boiler business income of 14.76 billion yuan [10][14] - Huaxi Energy, established in 2004, has a registered capital of 1.18 billion yuan, focusing on clean energy and environmental projects, with a total revenue of 25.93 billion yuan and a boiler business income of 2.15 billion yuan [10][14] Market Trends - The boiler manufacturing industry is seeing a shift towards digital services and energy-efficient products, with companies like Xizi Clean Energy and Huaguang Huaneng actively exploring new market opportunities [13] - The industry is also focusing on the development of low-carbon and zero-carbon equipment in response to energy transition trends [13] Financial Performance - The top companies in the boiler manufacturing sector, including Xizi Clean Energy, Huaguang Huaneng, and Hailu Heavy Industry, have all reported boiler business revenues exceeding 10 billion yuan, indicating strong market presence [13] - Hailu Heavy Industry reported the highest gross margin for its waste heat boilers and related products at 26.03% [13] Regional Insights - As of October 2025, the majority of boiler manufacturing companies are registered in Shandong Province, with over 5,500 companies, followed by Jiangsu Province with approximately 4,600 companies [7]

截至发稿，ST华西市值为31亿元。 每经头条（nbdtoutiao）——专访管涛：美国政府经济贸易政策正逐渐动摇美元本位国际货币体系，利 多因素下人民币汇率有可能破7 （记者 曾健辉） 每经AI快讯，ST华西（SZ 002630，收盘价：2.65元）12月11日晚间发布公告称，公司第六届第二十次 董事会会议于2025年12月11日在公司行政楼一楼会议室以现场结合通讯表决方式召开。会议审议了《关 于变更会计师事务所的议案》等文件。 2025年1至6月份，ST华西的营业收入构成为：锅炉制造业占比98.67%，其他业务占比1.33%。 ...

证券代码：002630 证券简称：ST 华西 公告编号：2025-075 华西能源工业股份有限公司 关于变更会计师事务所的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1.原聘任的会计师事务所：四川华信（集团）会计师事务所（特殊普通合伙） （以下简称"四川华信会计师事务所"），拟聘任的会计师事务所：政旦志远（深 圳）会计师事务所（特殊普通合伙）（以下简称"政旦志远会计师事务所"）。 2.四川华信会计师事务所对公司 2024 年度财务报表出具了保留意见的审计 报告。 3.变更会计师事务所的原因：由于四川华信会计师事务所与公司签订的审计 服务合同已经到期，结合公司未来发展战略和业务需要，经公司董事会审计委员 会审核同意，拟聘任政旦志远（深圳）会计师事务所（特殊普通合伙）为公司 2025 年度审计机构，聘期一年。 4.审计委员会、董事会对本次变更会计师事务所事项无异议。 本次拟变更会计师事务所事项符合《国有企业、上市公司选聘会计师事务所 管理办法》的有关规定。 一、拟聘任会计师事务所的基本情况 1.基本信息。 机构名称：政旦志远（深圳）会计师事务 ...

证券代码：002630 证券简称：ST 华西 公告编号：2025-076 华西能源工业股份有限公司（以下简称"公司"）第六届董事会第二十次会 议审议通过了《关于召开 2025 年第四次临时股东会的议案》，现将本次股东会有 关事项通知如下： 一、会议召开的基本情况 1. 股东会届次：2025 年第四次临时股东会。 2. 股东会的召集人：公司第六届董事会。 3. 会议召开的合法、合规性：本次股东会的召开符合有关法律法规、部门 规章、规范性文件、《深圳证券交易所股票上市规则》和公司章程的规定。 华西能源工业股份有限公司 关于召开 2025 年第四次临时股东会的通知 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。 重要提示： 4.会议召开的日期、时间： （1）现场会议日期时间：2025 年 12 月 29 日（星期一）下午 14∶30。 （2）网络投票日期时间：2025 年 12 月 29 日。其中，通过互联网投票系统 投票的具体时间为 2025 年 12 月 29 日上午 9∶15 至下午 15∶00 期间的任意时间； 通过深圳证券交易所交易系统进行网络投票的具体时 ...

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"）第六届董事会第二十次会 议（以下简称"会议"）于 2025 年 12 月 11 日在公司行政楼一楼会议室以现场 结合通讯表决方式召开。会议通知于 2025 年 12 月 10 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。 证券代码：002630 证券简称：ST 华西 公告编号：2025-074 华西能源工业股份有限公司 第六届董事会第二十次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 （二）审议通过《关于豁免提前五天发出董事会通知的议案》 为提高工作效率，保证公司在规定时限内完成会计师事务所的变更选聘工作， 同意豁免提前五天向董事发出董事会通知。本次豁免提前通知符合有关法律法规 和规范性文件的规定。 二、董事会会议审议情况 会议由公司董事长黄有全先生主持，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《关于变更会计师事务所的议案》 由于公司原聘任 ...

Core Viewpoint - The company, Huaxi Energy Industrial Co., Ltd., is currently involved in a lawsuit concerning a construction contract dispute, with a claim amount of 27.7838 million yuan and associated overdue interest [3][4]. Group 1: Lawsuit Details - The lawsuit has been accepted by the court and is yet to be heard [1][2]. - The company is one of the defendants in the case, alongside Qingdao Jiaojian Group Co., Ltd. and Jiang'an County Xing'an Transportation Construction Investment Co., Ltd. [2][4]. - The plaintiff, Sichuan Hongzhou Machinery Equipment Leasing Co., Ltd., claims that the company owes them 27.7838 million yuan for completed engineering work [3][5]. Group 2: Financial Implications - As of the announcement date, the impact of the lawsuit on the company's current or future profits remains uncertain due to the ongoing nature of the case [3][8]. - The plaintiff has requested the court to order the company and another defendant to pay the claimed amount and associated legal fees [8]. Group 3: Project Background - The dispute arises from a PPP contract signed in February 2018 for a highway project, which later transitioned to a general contracting model [4][5]. - The plaintiff asserts that after project completion, they are owed a total of 64.69366 million yuan, having received 37.4 million yuan already [5].

华西能源工业股份有限公司 关于重大诉讼的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1.案件所处的诉讼阶段：案件已受理，尚未开庭审理。 2.公司所处的当事人地位：公司为诉讼案件的被告之一。 3.涉案的金额：2778.38 万元及逾期利息。 证券代码：002630 证券简称：ST 华西 公告编号：2025-073 华西能源工业股份有限公司（以下简称"公司"）于 2025 年 12 月 4 日收到四 川省宜宾市江安县人民法院《传票》，因建设工程合同纠纷，四川弘州机械设备 租赁有限公司（以下简称"原告"）向四川省宜宾市江安县人民法院递交了民事起 诉状。该案件将于近期开庭审理。 二、本次诉讼案件的基本情况 （一）诉讼各方当事人 原告：四川弘州机械设备租赁有限公司 被告 1：华西能源工业股份有限公司 被告 2：青岛交建集团有限公司 被告 3：江安县兴安交通建设投资有限公司 第三人：华西能源工程有限公司 （二）案件概述 4.对公司损益产生的影响：截至本公告日，案件尚未开庭审理，对公司本期 利润或期后利润的影响尚具有不确定性。 一、本次诉讼事项受理的基 ...