Core Viewpoint - The company, Teruid (300001.SZ), has been announced as a candidate for several significant procurement projects, indicating strong recognition of its technology and product quality in the renewable energy and railway sectors [1] Group 1: Project Announcements - The company is a candidate for the "2025-2026 New Energy 35kV Box Transformer Framework Procurement" project by China Huadian Group, with a total pre-bid amount of approximately 698 million yuan [1] - The company is also a candidate for the "2025 Railway Construction Project" managed by the China National Railway Group, further showcasing its involvement in major infrastructure projects [1] Group 2: Company Positioning - The company is recognized as a leading outdoor box power product system integrator in China, focusing on providing optimal lifecycle system solutions for clients in the renewable energy, power, and railway sectors [1] - The recent bids reflect the industry's and clients' acknowledgment of the company's technical capabilities and product quality [1] Group 3: Future Impact - The execution of these projects is expected to have a positive impact on the company's future operations and financial performance [1] - The company maintains its operational independence despite these new project engagements [1]

Core Viewpoint - The company, Teruid (300001.SZ), has been announced as a candidate for several significant procurement projects, indicating strong recognition of its technology and product quality in the renewable energy and railway sectors [1] Group 1: Project Announcements - The company is a candidate for the 2025-2026 new energy 35kV box-type transformer framework procurement project by China Huadian Group, with a pre-bid total amount of approximately 698 million yuan [1] - The company is also a candidate for the second batch of materials managed by the China National Railway Group for the 2025 railway construction projects [1] Group 2: Company Positioning - The company is recognized as a leading outdoor box-type power product system integrator in China, focusing on providing optimal lifecycle system solutions for clients in the renewable energy, power, and railway sectors [1] - The recent bids further validate the company's technical capabilities and product quality within the renewable energy generation and railway industries [1] Group 3: Future Impact - The execution of these projects is expected to have a positive impact on the company's future operations and financial performance, while maintaining its operational independence [1]

人民财讯9月1日电，特锐德（300001）9月1日晚间公告，近日，中国华电集团电子商务平台发布《2025 —2026年新能源35kV箱式变压器框架采购招标项目中标候选人公示通知》、北京市公共资源交易服务 平台发布《2025年铁路建设项目国铁集团管理的甲供物资第二批次中标候选人公示》，公司为其部分项 目的中标候选人，上述项目预中标总金额约6.98亿元。 ...

特锐德9月1日公告，近日，中国华电集团电子商务平台发布了《2025-2026年新能源35kV箱式变压器框 架采购招标项目中标候选人公示通知》、北京市公共资源交易服务平台发布了《2025年铁路建设项目国 铁集团管理的甲供物资第二批次中标候选人公示》，公司为其部分项目的中标候选人，上述项目预中标 总金额约69,793.16万元。 ...

证券代码：300001 证券简称：特锐德 公告编号：2025-072 青岛特锐德电气股份有限公司 关于项目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。 公示日期：2025年8月29日--2025年9月1日 依据招标文件规定，根据入围供应商排名顺序按照1:0.85:0.7:0.55:0.35:0.2的容量 比例进行控制，各入围供应商应分配容量为预估容量按以上容量比例分配后的容量。 在框架执行过程中，根据供需情况及各入围供应商履约能力等,在预估分配比例基础 上，招标人原则上有权对每个入围供应商应分配容量进行调整（增或减），可调整的 最大容量为1GVA。 近日，中国华电集团电子商务平台（https://www.chdtp.cn/）发布了《2025-2026 年新能源35kV箱式变压器框架采购招标项目中标候选人公示通知》、北京市公共资源 交易服务平台（https://ggzyfw.beijing.gov.cn/）发布了《2025年铁路建设项目国铁集 团管理的甲供物资第二批次中标候选人公示》，青岛特锐德电气股份有限公司（以下 简称"公司"或"特锐德 ...

Group 1 - The report on overseas mutual funds indicates that as of March 31, 2025, there were 1,532 mutual funds holding A-shares with a total scale of $1.9 trillion, showing a slight decrease in both number and scale compared to previous periods [9][10][11] - The performance of overseas mutual funds investing in A-shares was notably differentiated, with active funds outperforming passive funds, achieving an average return of 0.51% and a median return of 0.28% [10] - The report highlights that overseas mutual funds increased their holdings in the home appliance, transportation, and computer sectors while reducing their investments in power equipment and new energy sectors [10][11] Group 2 - The report on Shenzhen Circuit (002916.SZ) forecasts revenue for 2025-2027 to be 22.134 billion, 26.330 billion, and 30.087 billion yuan respectively, with net profit expected to be 3.273 billion, 4.278 billion, and 5.154 billion yuan [12] - The target market capitalization for Shenzhen Circuit in 2026 is projected to be 162.572 billion yuan, with a target price of 243.83 yuan, and the report initiates coverage with a "buy" rating [12] - The report emphasizes the company's strong position in the PCB market, particularly in data center and communication sectors, with significant growth potential driven by advancements in AI and high-speed communication technologies [13][14] Group 3 - The report on Tunan Co., Ltd. (300855.SZ) indicates that the company is one of the few in China capable of mass-producing both deformed and cast high-temperature alloys, with a focus on aerospace and nuclear power applications [17][18] - The company is expected to achieve a revenue growth rate of 25.10% and a net profit growth rate of 25.10% from 2020 to 2024, with projected revenues of 1.258 billion yuan and net profits of 267 million yuan in 2024 [17] - Tunan's order backlog reached a historical high of 1.75 billion yuan as of the first half of 2025, reflecting a year-on-year increase of 236.5% [18] Group 4 - Alibaba's self-developed AI chips are aimed at meeting its own AI inference needs, with a planned investment of 380 billion yuan over the next three years to enhance its AI capabilities [20][21] - The report notes that Alibaba's AI inference chip, Hanguang 800, has surpassed NVIDIA's T4 and P4 in certain performance metrics, indicating a strong competitive position in the AI chip market [20] - The report highlights the potential for growth in power supply and liquid cooling technologies as major cloud service providers increase their investment in AI chips [22]

2025 年 8 月 31 日 公司研究 出海拓展积极，充电网业务进入收获期 ——特锐德（300001.SZ）2025 年半年报点评 要点 事件：特锐德发布 2025 年半年报，公司 25H1 营业收入为 62.56 亿元，同比 增长 17%；归母净利润 3.27 亿元，同比增长 69%；扣非归母净利润 2.50 亿 元，同比增长 56%。公司 25Q2 营业收入 41.53 亿元，同比增长 25%，环比增 长 98%；归母净利润 2.62 亿元，同比增长 99%，环比增长 305%；扣非归母 净利润 2.05 亿元，同比增 81%，环比增长 350%。 "智能制造+集成服务"海外拓展高歌猛进。2025 年上半年，公司"智能制造 +集成服务"业务实现营业收入 44.15 亿元，同比增长 20.17%；归母净利润达 3.25 亿元，同比增长 52.15%。公司积极响应国家"一带一路"倡议，2025 年 上半年，海外业务实现合同额约 10 亿元，较去年同期增长 84%。2025 年 1 月，公司成功中标 7 亿元沙特国家电网高压移动式变电站项目，该项目是沙特 "2030 愿景"下优化电网结构、保障能源安全的核心工 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][5][11] Core Views - The company achieved a revenue of 6.26 billion yuan in the first half of 2025, representing a year-on-year increase of 16.7%, and a net profit attributable to shareholders of 330 million yuan, up 69.3% year-on-year [5] - The traditional business segment generated a net profit of 325 million yuan, a 52.2% increase year-on-year, while the charging network business turned profitable with a net profit exceeding 2 million yuan [5][6] - The company is expected to maintain solid performance in its traditional business while the charging network is anticipated to continue contributing profit elasticity [5] Financial Performance Summary - For the first half of 2025, the traditional business segment achieved revenue of 4.415 billion yuan, a year-on-year increase of 20.17%, with a gross margin of 23.71% [6] - The charging network business generated revenue of 1.841 billion yuan, a growth of 9.19% year-on-year [6] - The company has set a profit forecast for 2025-2027 with net profits expected to be 1.246 billion, 1.610 billion, and 2.040 billion yuan respectively [5][7] Valuation Metrics - The current price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are projected to be 20.5, 15.8, and 12.5 times respectively [5][7] - The earnings per share (EPS) for the same years are expected to be 1.18, 1.53, and 1.93 yuan [5][7] - The company’s total market capitalization is approximately 25.523 billion yuan [1]

Core Viewpoint - The stock of Teriade has shown a positive trend with a year-to-date increase of 13.16%, reflecting strong market interest and performance in the electric equipment sector [1][2]. Company Overview - Teriade Electric Co., Ltd. is located in Laoshan District, Qingdao, Shandong Province, and was established on March 16, 2004. It was listed on October 30, 2009. The company specializes in the research, design, production, and manufacturing of complete power distribution products, primarily outdoor box-type electrical equipment and indoor switchgear, for voltage levels of 220kV and below [1]. - The main business revenue composition includes 70.57% from intelligent manufacturing and integrated services, and 29.43% from electric vehicle charging networks [1]. Financial Performance - As of June 30, 2025, Teriade reported a revenue of 6.256 billion yuan, a year-on-year decrease of 1.21%. However, the net profit attributable to shareholders increased by 69.32% to 327 million yuan [2]. - The company has distributed a total of 684 million yuan in dividends since its A-share listing, with 314 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 9.45% to 46,900, while the average circulating shares per person increased by 10.35% to 21,882 shares [2]. - The top circulating shareholders include Hong Kong Central Clearing Limited, which holds 29.4614 million shares, an increase of 7.3175 million shares from the previous period [3].

Financing Activities - On August 28, 2025, the company Tereader (300001) recorded a financing buy of 114 million yuan and a financing repayment of 114 million yuan, resulting in a net financing buy of 110,800 yuan and a financing balance of 1.248 billion yuan [1] - Over the past three trading days, the cumulative net financing buy reached 64.4534 million yuan, with 11 out of the last 20 trading days showing net financing buys [1] Financing Data Summary - The financing balance on August 28, 2025, was 1.248 billion yuan, accounting for 5.00% of the circulating market value [2] - The net financing buys for the previous trading days were as follows: - August 27: 18.7029 million yuan - August 26: 45.6396 million yuan - August 25: 5.5306 million yuan - August 22: 1.1784 million yuan [2] Securities Lending Activities - On August 28, 2025, the company sold 1,000 shares through securities lending and repaid 22,700 shares, resulting in a net securities lending buy of 21,700 shares, with a remaining securities lending balance of 107,700 shares [3] - The securities lending balance on August 28, 2025, was 2.6042 million yuan [3] Overall Financing and Securities Lending Balance - The total financing and securities lending balance on August 28, 2025, was 1.25 billion yuan, reflecting a decrease of 393,200 yuan or 0.03% from the previous day [4] - The changes in the total balance over the previous days were as follows: - August 27: Increase of 18.6988 million yuan - August 26: Increase of 45.6122 million yuan - August 25: Increase of 495,260 yuan - August 22: Increase of 123,180 yuan [4]