Core Viewpoint - The SNEC PV+2025 International Solar Energy and Smart Energy Conference and Exhibition was held in Shanghai, where Midea Group showcased its energy strategy focusing on "storage + heat pump + AI" to drive energy transformation [2] Company Overview - Midea Group's energy division includes commercial and residential energy solutions, large-scale ground storage, green buildings, and smart manufacturing, providing comprehensive energy solutions across multiple scenarios [2] - Beijing Hekang New Energy Technology Co., Ltd., a subsidiary of Midea Group, is set to launch multiple product series and solutions in the renewable energy sector during the exhibition [2] Product Launches - Hekang New Energy successfully launched its first home energy storage integrated machine in the German market in 2024, gaining market recognition for its performance, reliability, and safety [3] - At the SNEC PV+2025, Hekang New Energy introduced its second-generation home energy storage product matrix, which includes both integrated and split storage systems, covering high and low voltage products for various global markets [3] Technological Innovations - Hekang New Energy unveiled a virtual power plant aggregation platform that utilizes IoT and big data for energy management, integrating distributed solar and storage resources for real-time monitoring and unified control [4] - The company also launched the second-generation Midea Villa Green Power product, which features enhanced capacity and flexibility in charging and discharging based on local electricity pricing [4]

Core Insights - The SNEC PV+ 2025 International Solar Energy and Smart Energy Conference was held in Shanghai, where Midea Group launched its energy strategy [1] - Midea Energy, a brand under Midea Group, offers comprehensive energy solutions across various sectors including commercial, residential, large-scale storage, green buildings, and smart manufacturing [1] - Hacon New Energy, a key member of Midea Energy, showcased several products at the conference, including the Midea Villa Green Power Solution and the second-generation home energy storage products [1][2] Company Developments - Hacon New Energy officially launched its distributed photovoltaic EPC business in January 2024, rapidly expanding its marketing network across 22 provinces [2] - Following the implementation of the "5.31" policy, Hacon New Energy is exploring new profit models and has applied for electricity sales qualifications in multiple regions [2] - The upgraded Midea Villa Green Power Solution 2.0 features enhanced energy storage capabilities and allows for flexible charging and discharging based on local electricity pricing [3] Product Innovations - The new Midea Villa product can achieve a capacity of 90kW/240kWh through parallel battery packs, providing a safer and more economical experience for high-end green electricity users [3] - Hacon New Energy's second-generation home storage products seamlessly integrate with Midea's heat pump systems, enhancing the overall energy ecosystem [3] - The company also introduced a 40kW grid-connected inverter, expanding its product matrix to cover approximately 70% of the market application scenarios for home grid-connected inverters [3] Financial Performance - Hacon New Energy reported a revenue of 2.24 billion yuan in Q1 2025, representing a year-on-year increase of 220.56%, with a net profit of 28.16 million yuan, up 155.29% [3] - The company is expected to continue performing well in Q2 2025 based on market forecasts [3]

Group 1: Market Overview - The market has seen an increase, surpassing 4200, driven by a court ruling invalidating tariffs imposed by the US, which has boosted global risk appetite [1] - The strongest sectors today include autonomous driving and stablecoins, indicating a shift in investor focus [1] Group 2: Nuclear Fusion Research - The Southwestern Institute of Physics has achieved a new operational record for fusion devices in China, highlighting advancements in nuclear fusion research [2][1] - This development raises questions about the potential for this niche sector to gain traction and attract investment [2] Group 3: Company Involvement in Nuclear Fusion - Yongding Co., Ltd. has achieved leading performance in wire rod length and low-temperature strong magnetic field applications, with products used in superconducting induction heating and fusion magnets, maintaining close cooperation with the Southwestern Institute of Physics [6] - Chenguang Medical has ongoing technical communication with the Southwestern Institute regarding the supply of superconducting magnets, contingent on specific procurement needs [7] - Qiaoyuan Co. has established a reputation in the medical sector and maintains relationships with military research institutions, including the Southwestern Institute [8] - Lansi Heavy Industry is involved in the development of nuclear fusion-related products and has successfully applied a new type of heat exchanger in a fusion engineering project [9][10] - Guoguang Electric has received a provincial science and technology award for a project in collaboration with the Southwestern Institute focused on high-sensitivity leak detection technology for fusion components [10] - Antai Technology is at the forefront of research and manufacturing in fusion filter components, collaborating with the Southwestern Institute [11] - Hekang New Energy provides operational and maintenance services for high-voltage water-cooled variable frequency systems used by the Southwestern Institute [11] - Jingye Intelligent is exploring cooperation in remote operation and maintenance technology for fusion reactors with the Southwestern Institute [12] - Yingjie Electric serves various research institutions, including the Southwestern Institute, providing power supplies for scientific research and experimental testing [13]

证券代码：300048 证券简称：合康新能 编号：2025－038 北京合康新能科技股份有限公司 关于为子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 关于为子公司提供担保的进展公告 特别风险提示： 北京合康新能科技股份有限公司（以下简称"公司"）提供担保总额已超过最 近一期经审计净资产 100%、对资产负债率超过 70%的单位担保金额已超过公司 最近一期经审计净资产 50%，敬请投资者注意相关担保风险。 一、担保情况概述 （一）为子公司提供担保的进展 截至 2025 年 4 月 3 日，公司和控股子公司安徽美的合康电力工程有限公司 （以下简称"美康电力"）与华融金融租赁股份有限公司签署《业务合作协议》（编 号：华融租赁（24）经字第 2411143100 号）《户用光伏电站运维与服务合同》 （编号：华融租赁（24）运字第 2411143100 号）《业务合作协议补充协议一》 （编号：华融租赁（25）经字第 2411143100-1 号）《业务合作协议补充协议二》 （编号：华融租赁（25）经字第 2411143100-2 号）并向华融 ...

北京市中伦律师事务所 关于北京合康新能科技股份有限公司 股权激励计划 首次授予部分第四个归属期归属条件成就暨部分限 制性股票作废事项的 法律意见书 二〇二五年五月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金 山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 法律意见书 北京市中伦律师事务所 关于北京合康新能科技股份有限公司 首次授予部分第四个归属期归属条件成就暨部分限制性股票作 废事项的 法律意见书 致：北京合康新能科技股份有限公司 根据北京合康新能科技股份有限公司（以下简称"合康新能"、"公司"）与 北京市中伦律师事务所（以下简称"本所"）签 ...

Core Viewpoint - The independent financial advisor report by Shanghai Xingu Yihe Enterprise Management Consulting Co., Ltd. confirms that the fourth vesting period of the 2020 Restricted Stock Incentive Plan for Beijing Hekang New Energy Technology Co., Ltd. has met the vesting conditions [1][14]. Group 1: Incentive Plan Overview - The report serves as an independent financial advisory opinion regarding the first grant of the fourth vesting period of the 2020 Restricted Stock Incentive Plan [1][2]. - The incentive plan involves granting restricted stocks to eligible participants, including directors and senior management, based on specific performance and tenure conditions [4][14]. Group 2: Approval Process - The approval process for the incentive plan included multiple board meetings and shareholder approvals, with the first grant date set for January 11, 2021 [6][8]. - The board and supervisory committee verified the list of participants eligible for the incentive plan and confirmed compliance with the necessary regulations [7][10]. Group 3: Vesting Conditions - The fourth vesting period is defined as the period from the first grant date plus 52 months to the last trading day within 64 months [14]. - The company has confirmed that no adverse audit opinions or violations occurred, and the performance targets were met, allowing for the vesting of stocks [15][17]. Group 4: Performance Metrics - The performance metrics for the incentive plan include annual revenue growth targets, with specific percentage increases required for each vesting period [16][17]. - For the fourth vesting period, the company achieved a revenue of approximately 4.78 billion yuan in 2024, reflecting a significant increase compared to previous years [17]. Group 5: Vesting Details - A total of 1,787,500 shares will vest for 18 participants at a grant price of 4.15 yuan per share [18]. - The vesting represents 25% of the total restricted stocks previously granted to the participants [18].

Group 1 - The company held its 18th meeting of the 6th Supervisory Board on May 16, 2025, combining in-person and remote attendance, with all procedures complying with relevant laws and regulations [1] - The Supervisory Board approved the proposal to invalidate 475,000 unvested restricted stocks from the 2020 stock incentive plan, confirming it does not harm shareholder interests [1][2] - The Supervisory Board also approved the proposal regarding the fourth vesting period of the initial grant of the 2020 stock incentive plan, confirming that the vesting conditions have been met for 18 eligible participants [2]

Core Points - The supervisory board of Beijing Hekang New Energy Technology Co., Ltd. has verified the list of eligible participants for the fourth vesting period of the 2020 restricted stock incentive plan [1][2] - Out of 65 initial grant recipients, 47 lost their eligibility due to resignation, leaving 18 eligible participants for the fourth vesting period [1] - The total number of restricted shares to be vested for these 18 participants is 1.7875 million shares [2] Summary by Sections - **Eligibility Verification** - The supervisory board confirmed that the 18 eligible participants meet the qualifications as per the Company Law, Securities Law, and relevant regulations [1] - The eligibility of these participants is deemed legal and valid under the incentive plan [1] - **Vesting Details** - The number of shares to be vested corresponds to 1.7875 million shares for the eligible participants [2] - The actions taken comply with relevant laws and regulations, ensuring no harm to the company or shareholders [2]

第六届监事会第十八次会议决议公告 证券代码：300048 证券简称：合康新能 编号：2025－036 北京合康新能科技股份有限公司 第六届监事会第十八次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、 监事会召开情况 二、 监事会会议审议情况 （一） 审议通过《关于作废 2020 年限制性股票激励计划部分已授予尚未归 属的限制性股票的议案》 经审议，监事会认为：本次作废部分已授予尚未归属的限制性股票事项符合 《北京合康新能科技股份有限公司 2020 年限制性股票激励计划》（以下简称"本 激励计划"）的相关规定，不存在损害股东利益的情况，监事会一致同意公司将 不得归属的合计 47.5 万股限制性股票进行作废失效处理。 具体内容详见公司在巨潮资讯网披露的《关于作废 2020 年限制性股票激励 计划部分已授予尚未归属的限制性股票的公告》。 本议案以 3 票同意，0 票反对、0 票弃权获得通过。 （二） 审议通过《关于 2020 年限制性股票激励计划首次授予部分第四个归 1 第六届监事会第十八次会议决议公告 属期符合归属条件的议案》 北京合康新能科技 ...

第六届董事会第二十次会议决议公告 证券代码：300048 证券简称：合康新能 编号：2025－035 北京合康新能科技股份有限公司 第六届董事会第二十次会议决议公告 本议案已经董事会薪酬与考核委员会审议通过。 具体内容详见公司在巨潮资讯网披露的《关于作废 2020 年限制性股票激励 计划部分已授予尚未归属的限制性股票的公告》。 1 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的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会召开情况 北京合康新能科技股份有限公司（以下简称"公司"）第六届董事会第二十次 会议于 2025 年 5 月 16 日以现场会议和通讯会议相结合方式召开，会议通知于 2025 年 5 月 12 日以邮件、电话方式送达。会议应到董事 7 人，实到董事 7 人， 其中董事长陆剑峰先生、董事王文亮先生现场参加会议，其他董事职帅先生、王 宗浩先生、独立董事曾一龙先生、纪常伟先生和李新禄先生以通讯方式参加。公 司监事和高级管理人员列席了会议。会议由董事长陆剑峰先生主持。会议召集及 召开程序符合国家有关法律、行政法规、部门规章和《公司章程》的规定，与会 ...