证券代码：300040 证券简称：九洲集团 哈尔滨九洲集团股份有限公司投资者关系活动记录表 编号：2025-006 | 投资者关系活动 | 特定对象调研□分析师会议 | | --- | --- | | 类别 | | | | □媒体采访□业绩说明会 | | | □新闻发布会□路演活动 | | | □现场参观 | | | □其他（） | | 参与单位名称及 | 李广胜-嘉实基金 | | 人员姓名 | | | | 杨丹-银华基金 | | | 李明生-新华资产 | | | 殷中枢-光大证券 | | 时间 | 年 月 月 日 2025 6 4 日、6 5 | | 地点 | 北京 | | 上市公司参与人 | 投资者关系经理李浩轩 | | 员姓名 | 一、公司情况介绍 | | | 九洲集团创立于 1993 年，始终专注于智能配电网和网络能源领 | | | 域，是领先的新型电力和能源基础设施提供商。公司是国家重点高新 | | | 技术企业，于 2010 年在中国创业板成功上市（股票代码：300040）。 | | | 九洲集团为发电、输电、配电领域，以及交通电动化、新型储能、可 | | | 再生能源替代和多能转化等电力和能源 ...

6月5日，多个电力板块迎来上涨。数据显示，南网电网系概念股涨4.52%，虚拟电厂概念股涨3.26%， 个股方面，南网能源（003035）（003035.SZ）涨停，协鑫能科（002015）（002015.SZ）涨3.86%。 《通知》显示，绿电直连项目以满足企业绿色用能需求、提升新能源就近就地消纳水平为目标。为此 《通知》规定，并网型项目整体新能源年自发自用电量占总可用发电量的比例应不低于60%，占总用电 量的比例应不低于30%，并不断提高自发自用比例，2030年前不低于35%，上网电量占总可用发电量的 比例上限则一般不超过20%。 在王永利看来，相比传统通过电网统筹调配的方式，绿电直连鼓励"就地生产、就地消纳"，可有效降低 输电损耗、提升绿电消纳水平，也满足企业日益增长的绿色用能需求，尤其适用于园区、数据中心、制 造基地等高负荷主体。 主营新能源电站一体化综合解决方案的晶科科技（601778）（601778.SH）今年5月曾在交流活动上表 示，公司在开发方面聚焦开发优势，拓展源网荷储一体化、海上风电、风光制氢、抽蓄调峰、数据中心 等园区绿电直连合作在内的新模式，积极储备项目资源，蓄力发展，也做积极变现。 贝 ...

| 证券代码：300040 | 证券简称：九洲集团 公告编号：2025-059 | | --- | --- | | 债券代码：123089 | 债券简称：九洲转2 | 哈尔滨九洲集团股份有限公司 减持股份预披露的公告 本公司及监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。 哈尔滨九洲集团股份有限公司（以下简称"公司"）于 2025 年 5 月 9 日在巨 潮资讯网（www.cninfo.com.cn）披露了《关于股东减持计划的预披露公告》（公 告编号：2025-051），公司控股股东一致行动人上海牧鑫私募基金管理有限公司 －牧鑫天泽汇 3 号私募证券投资基金计划在本公告披露之日起 15 个交易日后的 3 个月内（即 2025 年 6 月 3 日至 2025 年 9 月 3 日）以集中竞价方式，或者在本 公告披露之日起 15 个交易日后的 3 个月内（即 2025 年 6 月 3 日至 2025 年 9 月 3 日）以大宗交易方式减持本公司股份 10,639,181 股。 | 1．基本情况 | 上海牧鑫私募基金管理有限公司－牧鑫天泽汇 | 3 | 号 | | --- | ...

调研纪要：九洲集团智能配电网业务订单额超8亿元，同比增长超30%，2025年Q1中标金额超2.6亿元。 公司账上约10亿国补应收款，拖欠周期2-3年，核减或无法拿到补贴可能性低。发电资产持有权益容量 1.5-2GW，新建项目长期持有，逐步出售老项目。应收国补全部为电费补贴，无供暖补贴，拖欠从2017 年开始滚动形成。存量项目沿用保障性电价，增量项目通过竞价确定机制电价。已获取5个乡镇供暖资 产，预计2024Q4至2026年上半年并网。电网订单占比约1/3，电网外占比约2/3，2025年Q1中标金额超 2.6亿元。从2024Q3开始搭建海外市场团队，关注远东、东盟、"一带一路"及金砖国家市场。2024年风 电资产装机容量246兆瓦，光伏资产装机容量298.6兆瓦，上网电量超10亿千瓦时。生物质发电资产因燃 料紧缺、价格波动等原因计提减值4.22亿元。项目内部收益率可达10%以上，发电收入占总收入比重超 90%，东北三省潜在市场巨大。在建和已拿到指标容量超1GW，正在开发阶段的项目容量约2-3GW。智 能配电网业务营收增长目标为30%，新能源发电业务营收增长目标为10%，综合智慧能源业务营收增长 10%。 机构简 ...

九洲集团（300040）6月3日披露投资者关系活动记录表显示，公司于近日在北京举行路演活动，银华基 金、银河基金、招商证券等10余家机构投资者参与活动。 "公司管理层把提高智能装配制造板块业绩视为公司未来发展的重点，将着力提高产能利用率，利用规 模效应提高毛利率，加大研发和开拓市场的投入，推动装备制造业务的增长。"九洲集团表示，2024年 度公司智能配电网业务订单额超过8亿元，同比增长超30%，截至2025年一季度，公司中标金额超2.6亿 元，也创历史同期新高。 谈及公司智能配电网设备板块的海外业务布局情况时，九洲集团表示，公司产品以往主要依靠跟随总包 方的方式实现出海，从2024年三季度开始公司就开始搭建海外市场团队并建立出口直销能力。公司会持 续对海外机会保持关注，并将紧跟国家战略，积极拓展包括俄罗斯在内的远东市场、东盟国家、共 建"一带一路"国家以及金砖国家市场。 九洲集团计划将总持有的权益容量规模控制在1.5GW—2GW之间，新建项目以长期持有为主，同时逐 步出售老项目。公司会继续与众多央国企伙伴开展风光发电项目的股权合作(包括出售已并网项目100% 的股权)，根据新并网规模，择机择时将新能源电站作为 ...

Company Overview - Jiuzhou Group was founded in 1993, focusing on smart distribution networks and energy sectors, and is a leading provider of new power and energy infrastructure [1] - The company is a national key high-tech enterprise and was successfully listed on the ChiNext in 2010 (stock code: 300040) [1] - Jiuzhou Group has established three core business segments: smart distribution networks, new energy, and comprehensive energy services [2] Business Performance - The company has over 40 subsidiaries across various provinces and regions in China, with a marketing service network covering 30 provinces and autonomous regions [2] - Jiuzhou Group's products and solutions are applied in multiple industries, including power, energy, metallurgy, petrochemicals, coal, ports, rail transit, data centers, and urban renovation projects [2] - The company has received numerous accolades, including being listed among the top 100 private technology companies in China and the top 500 energy companies [2] Smart Distribution Network Orders - The order amount for smart distribution network equipment in 2024 is expected to exceed 800 million yuan, representing a year-on-year growth of over 30% [4] - As of Q1 2025, the company has won bids totaling over 260 million yuan, marking a historical high for the same period [4] Accounts Receivable - The company has approximately 1 billion yuan in accounts receivable from national subsidies, with a typical delay of 2-3 years [5] - The likelihood of not receiving these subsidies is low, as all wind and solar projects have passed compliance checks [5] Asset Management Strategy - Jiuzhou Group plans to maintain its total equity capacity between 1.5GW and 2GW, focusing on long-term holdings for new projects while gradually selling older projects [6] - The company aims to sell 100% equity of new energy stations as products to realize resource premiums and equipment value [6] Market Trends and Challenges - The company anticipates that market reforms in electricity pricing will not adversely affect existing projects, as they can continue to use guaranteed pricing [8] - New projects may see a price drop of 0.03-0.05 yuan per kWh, but the industry can maintain reasonable profit margins through cost reductions [8] New Energy Development - As of the end of 2024, Jiuzhou Group has constructed and controlled new energy stations with a total installed capacity exceeding 2.7GW, with an additional 1GW in projects under construction [3] - The company has secured five heating asset concessions in rural areas and is in the process of obtaining necessary approvals for project connections [9] Future Growth Projections - The company has set ambitious growth targets for 2025: a 30% revenue increase in smart distribution networks, a 10% increase in new energy generation, and a 10% increase in comprehensive energy services [15] - The potential market for distributed wind and clean energy heating is vast, with nearly 3,000 towns in Northeast China, positioning Jiuzhou Group as a pioneer in this sector [14]

Group 1 - The A-share power sector showed strong performance at the beginning of trading, with notable gains in stocks such as South Network Energy and Guangdong Power A reaching the daily limit [1] - Companies like Xiexin Energy Technology, Jiangsu New Energy, Shenzhen Nanshan A, and Jiuzhou Group also experienced significant increases in their stock prices [1]

Company Overview - Jiuzhou Group was founded in 1993, focusing on smart distribution networks and energy sectors, and is a leading provider of new power and energy infrastructure [1] - The company is a national key high-tech enterprise and was successfully listed on the Chinese Growth Enterprise Market in 2010 (stock code: 300040) [1] - Jiuzhou Group has established three core business segments: smart distribution networks, new energy, and comprehensive energy services, supported by over 40 subsidiaries across various provinces [2] Business Performance - In 2024, the order amount for smart distribution network equipment exceeded 800 million CNY, a year-on-year increase of over 30% [4] - As of Q1 2025, the company has won bids totaling over 260 million CNY, marking a historical high for the same period [11] - The company has accumulated over 10 billion CNY in national subsidy receivables, with a low risk of not receiving subsidies due to compliance checks [5][7] New Energy Development - As of December 2024, Jiuzhou Group has constructed, controlled, and held new energy power station capacity exceeding 2.7 GW, with an additional 1 GW in projects under construction [3] - The company has a dual-engine business structure combining wind and solar energy with smart equipment manufacturing [2] - The company has secured five heating asset concessions in rural areas, with projects expected to be operational between Q4 2025 and mid-2026 [9] Strategic Goals - The company aims for a 30% revenue growth in the smart distribution network segment, 10% in new energy generation, and 10% in comprehensive energy services for 2025 [17] - The company plans to maintain its total equity capacity of new energy assets between 1.5 GW and 2 GW, focusing on long-term holdings while gradually selling older projects [6] Market Position and Future Outlook - The company has a strong market presence, with products applied in thousands of domestic and international infrastructure projects across various industries [2] - The management is optimistic about future growth, driven by increased investment in the power grid and the transition of clean energy projects from development to construction phases [11] - The company is actively expanding its overseas market presence, particularly in regions aligned with national strategies, such as the Belt and Road Initiative [12]

证券代码：300040 证券简称：九洲集团 公告编号：2025-057 债券代码：123089 债券简称：九洲转2 哈尔滨九洲集团股份有限公司 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。 哈尔滨九洲集团股份有限公司（以下简称"公司"或"股份公司"）于 2025 年 5 月 19 日以电子邮件和传真方式向全体董事发出召开 2025 年第一次临时董 事会的通知。会议于 2025 年 5 月 22 日在公司会议室以现场及通讯表决方式召 开，会议应参与表决董事 9 名，实际参与表决董事 9 名。 本次会议的召开符合《公司法》等相关法律及《公司章程》的规定。 会议由董事长李寅先生主持，经表决形成如下决议： 一、审议通过《关于暂不提前赎回"九洲转 2"的议案》 根据公司《向不特定对象发行可转换公司债券募集说明书》规定："在转股 期内，当下述情形的任意一种出现时，公司有权决定按照以债券面值加当期应计 利息的价格赎回全部或部分未转股的可转债： 1）在转股期内，如果公司股票在 任意连续三十个交易日中至少十五个交易日的收盘价格不低于当期转股价格的 自 2025 年 4 月 2 ...

证券代码：300040 证券简称：九洲集团 公告编号：2025-058 债券代码：123089 债券简称：九洲转2 哈尔滨九洲集团股份有限公司 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 重要内容提示： 自 2025 年 4 月 25 日至 2025 年 5 月 22 日，公司股票在连续 30 个交易日中 已有 15 个交易日的收盘价格高于"九洲转 2"当期转股价格的 130%，满足《募 集说明书》中约定的有条件赎回条款，经公司董事会决定公司决定本次不行使 "九洲转 2"的提前赎回权利。同时，在未来三个月内（（即 2025 年 5 月 23 日至 2025 年 8 月 22 日），如再次触发"九洲转 2"有条件赎回条款时，公司 均不行使提前赎回权利。自 2025 年 8 月 22 日后首个交易日重新计算，若 "九洲转 2"再次触发赎回条款，届时再召开董事会审议是否行使"九洲转 公司可转债的初始转股价格为 8.00 元/股。因分红派息及资本公积转增股 本，调整后转股价格为 5.50 元/股。 二、可转换公司债券有条件赎回 一、可转换公司债券基本情况 （一）可转 ...