Core Viewpoint - Taiyong Changzheng announced on November 17 that both silicon-based devices and silicon carbide devices have applications, depending on the specifications of different current products. The company believes that the core competitiveness of solid-state circuit breakers lies in their product design and algorithms [1] Group 1 - The company highlighted the applicability of silicon-based and silicon carbide devices based on varying current specifications [1] - The core competitive advantage of solid-state circuit breakers is attributed to product design and algorithm capabilities [1]

Core Insights - The announcement from Taiyong Changzheng on November 17 highlights the fundamental differences between solid-state circuit breakers and solid-state relays, despite both utilizing semiconductor switching technology for circuit control [1] Group 1: Product Comparison - Solid-state relays function primarily as fast execution switches controlled by electrical signals, focusing on the reliability and lifespan of load circuit operations [1] - Solid-state circuit breakers serve as intelligent protection devices with real-time monitoring and fault diagnosis capabilities, designed to automatically detect and interrupt overloads and short circuits within microseconds, emphasizing system-level safety and fault current limiting [1] - Solid-state circuit breakers can also fulfill the functions of solid-state relays due to their high electrical lifespan characteristics [1]

Core Viewpoint - The company reported fluctuations in gross margin due to rising raw material prices, intense industry competition, and changes in market customer structure and product sales structure, but the gross margin remains at the industry average [1] Group 1: Financial Performance - The company's gross margin has experienced certain fluctuations and declines, influenced by multiple factors [1] - Despite the fluctuations, the gross margin is still at the industry average level [1] Group 2: Strategic Response - To adapt to the operational pressures from external environmental changes, the company is focusing on cost reduction and efficiency enhancement through various methods such as technological innovation, engineering process optimization, and workflow improvements [1]

Core Viewpoint - Taiyong Changzheng (002927) announced on November 17 that static transfer switches (STS) and automatic transfer switches (ATS) are both power conversion devices, with the main difference being their switching speed and application scenarios [1] Group 1 - ATS utilizes a mechanical structure, while STS employs semiconductor components, allowing for extremely fast switching [1] - STS ensures true uninterrupted power supply, maintaining continuous and stable operation [1]

Core Insights - On November 17, Taiyong Changzheng executed a block trade of 1.186 million shares, amounting to 20.3992 million yuan, which represented 4.23% of the total trading volume for the day. The transaction price was 17.20 yuan, reflecting a discount of 15.44% compared to the market closing price of 20.34 yuan [1]. Summary by Category Trading Details - The block trade involved a total of 1.186 million shares at a price of 17.20 yuan per share, resulting in a total transaction value of 20.3992 million yuan [1]. - The trade accounted for 4.23% of the total trading volume on that day [1]. Price Comparison - The transaction price of 17.20 yuan was at a discount of 15.44% from the market closing price of 20.34 yuan [1].

Core Viewpoint - Taiyong Changzheng's Static Transfer Switch (STS) leverages power electronics technology for rapid switching between two independent power sources, achieving this in milliseconds or even microseconds, emphasizing its core value of speed and high reliability [1] Group 1: Product Features - The STS is designed for applications requiring high continuity of power supply [1] - Key sectors for STS application include communication data centers, rail transit, comprehensive medical facilities, and process industries [1]

每经AI快讯，泰永长征（SZ 002927，收盘价：18.49元）发布公告称，2025年11月13日、11月14日，泰 永长征接受国信证券等投资者调研，公司副总经理、董事会秘书、财务负责人韩海凤等人参与接待，并 回答了投资者提出的问题。 每经头条（nbdtoutiao）——展望"十五五" | 专访尹艳林：让有钱且愿消费的人顺利消费；个税起征点可 提高，最高边际税率可下调，让有关群体少缴税、多收入 （记者 王瀚黎） 2025年1至6月份，泰永长征的营业收入构成为：工业占比100.0%。 ...

Group 1: Solid State Circuit Breakers (SSCB) - SSCBs are not strictly necessary components in HVDC Panama power systems but are becoming key technology choices due to their high speed, reliability, and long lifespan [2] - SSCBs can achieve microsecond-level interruption speeds, effectively matching the rapid rise of fault currents in DC systems, thus preventing fault propagation [2] - The high operational cycle capability of SSCBs, up to one million cycles, reduces long-term maintenance costs and enhances the reliability of power supply from input to load [2] Group 2: Static Transfer Switches (STS) - STS devices are based on power electronics technology, enabling extremely fast switching (usually in milliseconds or microseconds) between two independent power sources [3] - The core value of STS lies in "rapid switching" and "high reliability," making them suitable for critical loads that cannot tolerate power interruptions, such as communications data, rail transportation, and healthcare [3] Group 3: Financial Performance and Market Conditions - The company's gross profit margin has shown fluctuations due to rising raw material prices, intensified industry competition, and changes in market customer and product structures [3] - Despite these challenges, the company's gross profit margin remains at the industry average, and it is actively pursuing cost reduction and efficiency improvement through technological innovation and process optimization [3] Group 4: Product Specifications and Comparisons - The company utilizes both silicon-based and silicon carbide devices for SSCBs, depending on the current specifications of the products [3] - The core competitiveness of SSCBs lies in product design and algorithms rather than just the materials used [3] - SSCBs differ fundamentally from solid-state relays in their core functions and design goals, with SSCBs focusing on real-time monitoring and fault diagnosis capabilities [3]

（文章来源：证券日报） 证券日报网讯泰永长征11月13日在互动平台回答投资者提问时表示，公司的固态变压器目前尚处于应用 方案论证与市场调研阶段。 ...

证券日报网讯泰永长征（002927）11月13日在互动平台回答投资者提问时表示，截至2025年11月10日， 公司股东总户数为30034户。 ...