Group 1 - The power grid equipment sector is experiencing a downturn, with companies like Good Faith Co., Ltd. hitting the daily limit down [1] - Other companies such as Luokai Co., Ltd., Caneng Electric Power, Zhongheng Electric, and Zhongneng Electric are also seeing declines [1]

证券代码：002706 证券简称：良信股份 公告编号：2025-067 上海良信电器股份有限公司 关于召开 2025 年第二次临时股东会通知的公告（更正后） 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。 一、召开会议的基本情况 1、股东会届次：2025 年第二次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《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》等法律、行政法规、部门规章、 规范性文件及《公司章程》的有关规定。 4、会议时间： （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 11 月 11 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为 2025 年 11 月 11 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：2025 年 11 月 06 日 7、出席对象： （1）在股权登记日 ...

Core Viewpoint - The power equipment sector experienced a rise of 0.81% on the trading day, with Zhongneng Electric leading the gains, while the overall Shanghai Composite Index fell by 0.25% [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3997.56, down 0.25% - The Shenzhen Component Index closed at 13404.06, down 0.36% - Zhongneng Electric saw a significant increase of 14.60%, closing at 11.38 [1] Group 2: Individual Stock Performance - The top performers in the power equipment sector included: - Zhongneng Electric: 14.60% increase, 218.63 million shares traded, 24.23 billion in transaction value - Liangxin Co.: 10.02% increase, 144.68 million shares traded, 18.31 billion in transaction value - Taiyong Changzheng: 10.01% increase, 38.17 million shares traded, 6.79 billion in transaction value - Moen Electric: 9.97% increase, 170.38 million shares traded, 7.30 billion in transaction value - Zhengtai Electric: 8.08% increase, 181.20 million shares traded, 61.91 billion in transaction value [1] Group 3: Capital Flow - The power equipment sector saw a net outflow of 2.335 billion from institutional investors, while retail investors contributed a net inflow of 2.286 billion - Notable capital flows included: - Liangxin Co.: 351 million net inflow from institutional investors, 1.55 billion net outflow from speculative funds - Taiyong Changzheng: 192 million net inflow from institutional investors, 1.11 billion net outflow from speculative funds - Zhongneng Electric: 78.68 million net inflow from institutional investors, 20.59 million net inflow from speculative funds [2]

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。 上 海 良 信 电 器 股 份 有 限 公 司 （ 以 下 简 称 " 公 司 "） 于 2025 年 10 月 25 日 在 巨 潮 资 讯 网 （www.cninfo.com.cn）披露了《关于召开 2025 年第二次临时股东会的通知》（公告编号：2025-065）。 经事后核查，发现原通知中部分内容需要更正。现对相关内容更正。本次更正不涉及原通知的实质性变 更，敬请投资者关注。具体内容如下： 证券代码：002706 证券简称：良信股份 公告编号：2025-066 上海良信电器股份有限公司 关于召开 2025 年第二次临时股东会通知的更正公告 更正后： 股东对总议案与具体提案重复投票时，以第一次有效投票为准。如股东先对具体提案投票表决，再对 总议案投票表决，则以已投票表决的具体提案的表决意见为准，其他未表决的提案以总议案的表决意见 为准；如先对总议案投票表决，再对具体提案投票表决，则以总议案的表决意见为准。 更正前： 更正前： 附件一 参加网络投票的具体操作流程： 3、股东对总议案进行投票，视为对除累积投票提 ...

证券代码：002706 证券简称：良信股份 公告编号：2025-067 上海良信电器股份有限公司 关于召开 2025 年第二次临时股东会通知的公告（更正后） 3、本次会议的召集、召开符合《中华人民共和国公司法》《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》等法律、行政法规、部门规章、 规范性文件及《公司章程》的有关规定。 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。 一、召开会议的基本情况 1、股东会届次：2025 年第二次临时股东会 2、股东会的召集人：董事会 4、会议时间： （1）现场会议时间：2025 年 11 月 11 日 13:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 11 月 11 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为 2025 年 11 月 11 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：2 ...

Group 1 - The core viewpoint of the news highlights a significant surge in the new energy sector, particularly in the electric grid equipment ETF (159326), which has seen a strong increase in trading volume and stock prices of its holdings [1][2] - As of November 6, the electric grid equipment ETF has experienced a net inflow of 1.114 billion yuan over nine consecutive trading days, reaching a total scale of 1.578 billion yuan, marking a record high since its inception [1] - The report from Goldman Sachs indicates that global electricity demand for data centers is expected to surge by 160% by 2030, posing a challenge for AI development due to power supply constraints [1] Group 2 - The electric grid equipment ETF (159326) is the only ETF tracking the CSI Electric Grid Equipment Theme Index, with a strong representation in sectors such as power transmission and transformation equipment, grid automation equipment, and cable components [2] - The holdings in the ETF have a high concentration in ultra-high voltage equipment, accounting for 64% of the total weight, which is the highest in the market [2]

Core Viewpoint - The stock of Liangxin Co., Ltd. has shown significant growth this year, with a 55.33% increase in share price, indicating strong market performance and investor interest [1][2]. Financial Performance - For the period from January to September 2025, Liangxin Co., Ltd. achieved a revenue of 3.507 billion yuan, representing a year-on-year growth of 12.23% [2]. - The net profit attributable to shareholders for the same period was 304 million yuan, which reflects a decrease of 2.08% compared to the previous year [2]. Stock Market Activity - As of November 6, the stock price reached 11.60 yuan per share, with a trading volume of 251 million yuan and a turnover rate of 2.40% [1]. - The company experienced a net inflow of main funds amounting to 4.1696 million yuan, with significant buying activity from large orders [1]. Shareholder Information - As of September 30, the number of shareholders increased by 21.36% to 39,400, while the average number of circulating shares per person decreased by 17.60% to 23,245 shares [2][3]. - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 37.5577 million shares, an increase of 19.467 million shares from the previous period [3]. Dividend Distribution - Since its A-share listing, Liangxin Co., Ltd. has distributed a total of 1.986 billion yuan in dividends, with 744 million yuan distributed over the last three years [3]. Business Overview - Liangxin Co., Ltd. specializes in the research, production, and sales of low-voltage electrical products, with its main revenue sources being distribution equipment (63.82%), terminal equipment (20.57%), control equipment (12.55%), and smart electrical products (2.42%) [1]. - The company is categorized under the power equipment industry, specifically in distribution equipment [1].

Group 1 - The core point of the news is that Shanghai Liangxin Electric Co., Ltd. has seen a stock price increase of 5.41%, reaching 11.49 CNY per share, with a total market capitalization of 12.905 billion CNY [1] - The company was established on January 7, 1999, and went public on January 21, 2014, focusing on the research, production, and sales of low-voltage electrical products [1] - The revenue composition of the company includes: 63.82% from distribution electrical appliances, 20.57% from terminal electrical appliances, 12.55% from control electrical appliances, 2.42% from smart electrical products, and 0.65% from other sources [1] Group 2 - Longcheng Fund has a significant holding in Liangxin shares, with the Longcheng Preferred Return Mixed Fund A (010797) holding 75,000 shares, accounting for 1.21% of the fund's net value, ranking as the sixth largest holding [2] - The fund has a total scale of 63.1496 million CNY and has achieved a year-to-date return of 4.98%, ranking 6742 out of 8150 in its category [2] - The fund manager, Ma Qiang, has a tenure of 10 years and 138 days, with the best fund return during his tenure being 66.06% [3]

Core Viewpoint - Despite the overall pressure in the low-voltage electrical industry, the company has demonstrated resilience with a revenue of 3.507 billion yuan in the first three quarters of 2025, reflecting a year-on-year growth of 12.23% [1][3]. Group 1: Financial Performance - The company's revenue increased from 3.124 billion yuan in the same period last year, showcasing a steady growth trend [3]. - The net profit attributable to shareholders was 304 million yuan, a slight decrease of 2.08% year-on-year, while maintaining a high gross profit margin of 30.44% [3][5]. Group 2: Strategic Focus - The company has strategically targeted high-potential sectors such as new energy and intelligent computing, aligning with national strategic priorities to offset demand weakness in traditional areas [5]. - The dual focus on "dual carbon" initiatives and computing power upgrades is seen as key to redefining growth logic in the low-voltage electrical industry [5]. Group 3: Market Opportunities - The "dual carbon" sector is projected to release a market space worth hundreds of billions, with the company leveraging its technical expertise in new energy distribution [5]. - The intelligent computing sector is expected to see significant growth, with global data center capacity projected to increase from 82 GW in 2025 to 219 GW, indicating a compound annual growth rate of over 30% [5]. Group 4: Ecosystem Collaboration - The company emphasizes ecosystem cooperation to address the complexities of intelligent distribution systems, advocating for collaboration among component manufacturers, software firms, and design institutes [6][8]. - By fostering partnerships in product development, solutions, and business models, the company aims to enhance service delivery to end customers [7]. Group 5: Competitive Positioning - The company’s strategic layout aligns with the global trend towards AI, with significant opportunities anticipated in the next 5-10 years for the low-voltage electrical industry [11]. - The company is positioned to capitalize on domestic market demands while adhering to international standards, laying the groundwork for global expansion [11].

Core Viewpoint - The company has experienced a decline in both gross and net profit margins in the third quarter, attributed to changes in sales structure and product price fluctuations [3]. Group 1: Financial Performance - The company's gross margin decline is influenced by the rapid growth of emerging businesses and increased competition, which affects product pricing [3]. - The net profit margin decrease is a direct result of the decline in gross margin [3]. - The company plans to improve profitability through strategies such as optimizing pricing, expanding high-margin product sales, and enhancing overseas market development [3]. Group 2: Industry and Market Position - The renewable energy sector accounts for over 50% of the company's revenue, with significant contributions from wind power, photovoltaics, energy storage, and electric vehicles [4]. - The digital energy sector contributes nearly 20% to revenue, benefiting from favorable market conditions and increased market share [4]. - The infrastructure sector shows stable growth, while the smart building sector is experiencing negative growth due to reduced demand in the real estate market [4]. Group 3: Business Development - The company's DC contactor business is in a rapid growth phase, primarily applied in energy storage and electric vehicle sectors, although it currently represents a small portion of overall performance [5]. - The company is focused on enhancing product reliability, cost reduction, and capability building for its new products [5]. - In the data center industry, the company is expanding its market presence by targeting major internet companies and telecom operators, while also developing new products [6][7]. Group 4: Employee Incentives - The company has terminated its employee stock ownership plan early due to performance assessment and cost considerations, but it remains committed to developing new long-term incentive plans [7].