Core Viewpoint - Dongsoft Zhaibo is a leading supplier of low-voltage power line carrier communication products in China, focusing on providing comprehensive solutions for smart grid construction [1] Group 1: Business Overview - Established on June 30, 1993, and listed on the Shenzhen Stock Exchange on February 22, 2011, Dongsoft Zhaibo is headquartered in Qingdao, Shandong Province [1] - The company specializes in the research, production, sales, and service of low-voltage power line carrier communication products, aiming to support national smart grid construction [1] Group 2: Financial Performance - In Q3 2025, Dongsoft Zhaibo reported revenue of 704 million yuan, ranking third among 12 companies in the industry, with the top competitor, Oriental Communication, generating 1.627 billion yuan [2] - The company's net profit for the same period was -11.2473 million yuan, placing it ninth in the industry, while the industry leader, Oriental Communication, achieved a net profit of 359 million yuan [2] Group 3: Financial Ratios - As of Q3 2025, Dongsoft Zhaibo's debt-to-asset ratio was 10.98%, lower than the previous year's 11.21% and significantly below the industry average of 26.75% [3] - The company's gross profit margin for the same period was 27.50%, down from 39.91% year-on-year and below the industry average of 36.75% [3] Group 4: Management and Shareholder Information - The total compensation for General Manager Cui Jian was 1.6269 million yuan in 2024, an increase of 48,400 yuan from 2023 [4] - As of September 30, 2025, the number of A-share shareholders increased by 0.02% to 36,700, while the average number of circulating A-shares held per shareholder decreased by 0.02% to 11,100 [5]

Investment Rating - The report maintains an "Overweight" rating for the utility sector [1] Core Insights - The construction of a new energy system is accelerating, with a focus on achieving carbon peak and promoting a green lifestyle [4] - In the first nine months of 2025, total electricity consumption increased by 4.6% year-on-year, totaling 77,675 billion kWh [4] - The electricity spot market is rapidly starting continuous settlement trials, with several provinces transitioning to formal operations [4] Summary by Sections 1. Industry Overview - The report highlights the importance of accelerating the construction of a new energy system as outlined in the recent Communist Party meeting [4] 2. Electricity Consumption - Total electricity consumption for January to September 2025 reached 77,675 billion kWh, reflecting a year-on-year growth of 4.6% [15] - Breakdown of consumption growth: - Primary industry: +10.2% - Secondary industry: +3.4% - Tertiary industry: +7.5% - Urban and rural residential consumption: +5.6% [4][15] 3. Power Generation - Cumulative power generation for January to September 2025 was 72,600 billion kWh, with a year-on-year increase of 1.6% [22] - Specific generation changes: - Thermal power: -1.2% - Hydropower: -1.1% - Nuclear power: +9.2% - Wind power: +10.1% - Solar power: +24.2% [22] 4. Electricity Prices - The average electricity purchase price in June 2025 was 389 RMB/MWh, down 1% year-on-year and 1.3% month-on-month [38] 5. Coal Prices - As of October 24, 2025, the price of thermal coal at Qinhuangdao port was 770 RMB/ton, up 9.07% year-on-year and increased by 22 RMB/ton week-on-week [45] 6. Hydropower Conditions - As of October 24, 2025, the water level at the Three Gorges Reservoir was 175 meters, with inflow and outflow rates increasing by 92% and 70% year-on-year, respectively [54] 7. Investment Recommendations - Focus on investment opportunities in hydropower and thermal power during peak summer demand [4] - Recommended companies include: - Thermal Power: JianTou Energy, Huadian International, Huaneng International, Guodian Power, Sheneng Shares, and Waneng Power [4] - Hydropower: Yangtze Power [4] - Nuclear Power: China National Nuclear Power and China General Nuclear Power [4] - Green Energy: Longi Green Energy and others [4]

Core Insights - Neusoft Carrier announced the construction of the Greater Bay Area Intelligent Power Equipment Innovation Valley project in Foshan, with a total investment of approximately 887.66 million RMB and a planned area of 173,386.85 square meters [2] - The project aims to enhance the company's production capacity and competitiveness in South China, supporting the development of a 100 billion RMB industrial cluster for power equipment manufacturing in Foshan [2] Company Overview - Neusoft Carrier was established on June 30, 1993, with a registered capital of 462.61 million RMB, focusing on the R&D, design, sales of power line carrier communication products, and integrated circuits [2] - The company has 10 subsidiaries, including those in Shanghai, Guangdong, Taiwan, and Qingdao, indicating a diversified operational footprint [3] Financial Performance - The company's revenue for 2022, 2023, 2024, and the first three quarters of 2025 were 936 million RMB, 986 million RMB, 1.03 billion RMB, and 704 million RMB, reflecting year-on-year growth rates of 3.29%, 5.33%, 4.53%, and a decline of 10.59% respectively [3] - The net profit attributable to the parent company for the same periods were 163 million RMB, 61.09 million RMB, 66.83 million RMB, and a loss of 10.92 million RMB, with year-on-year growth rates of 22.44%, -62.58%, 9.39%, and -113.00% respectively [3] - The company's asset-liability ratios for the same periods were 12.00%, 10.79%, 11.49%, and 10.98%, indicating a stable financial structure [3]

Group 1 - The core viewpoint of the article is that Dongsoft Zhaibo (300183.SZ) reported a decline in revenue and incurred a net loss in the first three quarters of 2025 [1] Group 2 - The company's operating revenue for the first three quarters was 704 million yuan, representing a year-on-year decrease of 10.59% [1] - The net loss attributable to shareholders of the listed company was 10.923 million yuan [1] - The net loss attributable to shareholders after deducting non-recurring gains and losses was 22.3373 million yuan [1] - The basic loss per share was 0.0236 yuan [1]

Core Viewpoint - Dongsoft Zhaibo (300183) reported a decline in revenue and net profit due to changes in the market environment for power line carrier communication products, while planning to invest over 888 million yuan in the construction of an intelligent power equipment innovation valley in the Greater Bay Area to deepen its smart power layout in South China [1][2]. Financial Performance - In Q3 2025, Dongsoft Zhaibo achieved revenue of 200 million yuan, a year-on-year decrease of 13.33%; net profit was -24.4476 million yuan, down 191.16%; and non-recurring net profit was -27.7208 million yuan, a decline of 236.29% [1]. - From January to September, the cumulative revenue was 704 million yuan, a year-on-year decrease of 10.59%; net profit was -10.923 million yuan, down 113%; and non-recurring net profit was -22.3373 million yuan, a decline of 133.5% [1]. Reasons for Performance Changes - The decline in performance is primarily attributed to a decrease in revenue from power line carrier communication products, with market bidding scale contracting and intensified competition leading to reduced sales space [1]. - The introduction of new standards for intelligent integrated terminals has delayed the supply rhythm of terminal products, impacting overall sales [1]. Strategic Measures - To alleviate revenue decline, the company has implemented multiple measures, including expediting the delivery process of undelivered orders, focusing on smart meter business growth, and actively expanding energy internet-related product lines [2]. - The smart meter business has seen a significant increase in bidding amounts year-on-year, and the company has achieved successful bids in the third quarter for new specification products in the intelligent integrated terminal field [2]. Investment Project - The Greater Bay Area Intelligent Power Equipment Innovation Valley project, with a total investment of approximately 888 million yuan, will be constructed by the company's wholly-owned subsidiary, Guangdong Dongsoft Zhaibo Power Technology Co., Ltd., on a site of approximately 260.0803 acres [2][3]. - The project aims to enhance the company's presence in the South China market, optimize resource allocation through a "dual headquarters" strategy, and promote industrial synergy by attracting quality enterprises in the fields of new energy, energy storage, and smart grids [3].

二零二五年十月 1 / 60 青岛东软载波科技股份有限公司 公司章程 青岛东软载波科技股份有限公司 公司章程 青岛东软载波科技股份有限公司 公司章程 目 录 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第四章 股东和股东大会 第五章 党建工作 第六章 董事会 第七章 总经理及其他高级管理人员 第八章 监事会 第一节 监事 青岛东软载波科技股份有限公司 公司章程 第二节 监事会 第九章 财务会计制度、利润分配和审计 第十章 通知与公告 第一节 通知 2 / 60 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第一节 股东 第二节 股东大会的一般规定 第三节 股东大会的召集 第四节 股东大会的提案与通知 第五节 股东大会的召开 第六节 股东大会的表决和决议 第一节 党组织的机构设置 第二节 公司党组织职权 第一节 董事 第二节 董事会 第二节 公告 第十一章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十二章 修改章程 第十三章 附则 3 / 60 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 青岛东软载波科技股份有限公司 ...

目前，电力科技拟在该宗土地上新建大湾区智能电力装备创新谷项目。主要 建设产业用房、配套用房、设施用房以及基础设施建设，规划建设总建筑面积 261,620 平方米，计容总建筑面积 334,300 平方米。 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。 青岛东软载波科技股份有限公司（以下简称"公司"）于 2025 年 10 月 23 日召开第六届董事会第十五次会议、第六届监事会第十次会议，审议通过《关于 二级全资子公司投资建设大湾区智能电力装备创新谷项目的议案》，拟在自有土 地建设大湾区智能电力装备创新谷项目（以下简称"项目"或"创新谷"）。现将 项目具体情况公告如下： 一、对外投资概述 公司二级全资子公司广东东软载波电力科技有限公司（以下简称"电力科技"） 2025 年购置了位于佛山市南海区九江镇中兴新城中兴路南侧 A 地块的一宗面积 为 173,386.85 平方米的工业用地兼容仓储用地，具体内容详见公司于巨潮资讯网 （www.cninfo.com.cn）披露的《关于对外投资设立二级全资子公司暨二级全资子 公司拟参与竞买土地使用权的公告》（公告编号：2025 ...

| 经营范围（修订前） | 经营范围（修订后） | | --- | --- | | 计算机软硬件及辅助设备零售；计算机软硬 | 一般项目：计算机软硬件及辅助设备零售； | | 件及外围设备制造；软件开发；软件销售； | 计算机软硬件及外围设备制造；软件开发； | | 技术服务、技术开发、技术咨询、技术交流、 | 软件销售；技术服务、技术开发、技术咨询、 | | 技术转让、技术推广；人工智能应用软件开 | 技术交流、技术转让、技术推广；人工智能 | | 发；区块链技术相关软件和服务；集成电路 | 应用软件开发；区块链技术相关软件和服务； | | 设计；集成电路销售；通信设备制造；通信 | 集成电路设计；集成电路销售；通信设备制 | | 设备销售；供应用仪器仪表制造；供应用仪 | 造；通信设备销售；供应用仪器仪表制造； | | 器仪表销售；电工仪器仪表制造；电工仪器 | 供应用仪器仪表销售；电工仪器仪表制造； | | 仪表销售；终端计量设备制造；终端计量设 | 电工仪器仪表销售；终端计量设备制造；终 | | 备销售；电力电子元器件制造；电力电子元 | 端计量设备销售；电力电子元器件制造；电 | | 器件销售；配电 ...

青岛东软载波科技股份有限公司 《公司章程》修正案 《公司章程》修改对照表如下： | 条款号 | | 原条款 | 修订后的条款 | | --- | --- | --- | --- | | 第 十 | 二 | 经依法登记，公司的经营范围：计算 | 经依法登记，公司的经营范围：一般 | | 条 | | 机软硬件及辅助设备零售；计算机软硬件 | 项目：计算机软硬件及辅助设备零售；计 | | | | 及外围设备制造；软件开发；软件销售； | 算机软硬件及外围设备制造；软件开发； | | | | 技术服务、技术开发、技术咨询、技术交 | 软件销售；技术服务、技术开发、技术咨 | | | | 流、技术转让、技术推广；人工智能应用 | 询、技术交流、技术转让、技术推广；人 | | | | 软件开发；区块链技术相关软件和服务； | 工智能应用软件开发；区块链技术相关软 | | | | 集成电路设计；集成电路销售；通信设备 | 件和服务；集成电路设计；集成电路销售； | | | | 制造；通信设备销售；供应用仪器仪表制 | 通信设备制造；通信设备销售；供应用仪 | | | | 造；供应用仪器仪表销售；电工仪器仪表 | 器仪表制造 ...

青岛东软载波科技股份有限公司 关于召开 2025 年第二次临时股东大会的通知 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、召开会议的基本情况 1、股东会届次：2025 年第二次临时股东大会 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》《深圳证券交易所创业板股票 上市规则》《深圳证券交易所上市公司自律监管指引第 2 号—创业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。 证券代码：300183 证券简称：东软载波 公告编号：2025-064 4、会议时间： （1）现场会议时间：2025 年 11 月 12 日 14:00 （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 12 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 12 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： ...