Market Overview - The professional services sector increased by 0.18% on November 5, with Electric Research Institute leading the gains [1] - The Shanghai Composite Index closed at 3969.25, up 0.23%, while the Shenzhen Component Index closed at 13223.56, up 0.37% [1] Top Gainers in Professional Services - Electric Research Institute (300215) closed at 6.51, up 3.99% with a trading volume of 299,300 shares and a turnover of 193 million [1] - Union Inspection Technology (301115) closed at 17.41, up 3.14% with a trading volume of 55,700 shares and a turnover of 96 million [1] - West High Institute (688334) closed at 21.17, up 2.72% with a trading volume of 87,300 shares and a turnover of 182 million [1] - Other notable gainers include Kai Pu Testing (003008), Ancar Testing (300572), and China Steel Tianyuan (002057) with respective increases of 2.65%, 2.52%, and 2.50% [1] Top Losers in Professional Services - Lansheng Co., Ltd. (600826) closed at 11.18, down 1.84% with a trading volume of 121,200 shares and a turnover of 135 million [2] - Huace Testing (300012) closed at 14.21, down 1.52% with a trading volume of 265,700 shares and a turnover of 378 million [2] - Anbang Guard (603373) closed at 46.92, down 1.39% with a trading volume of 5,340 shares and a turnover of 25 million [2] Capital Flow Analysis - The professional services sector saw a net inflow of 57.11 million from institutional investors, while retail investors experienced a net outflow of 34.30 million [2][3] - Major stocks with significant net inflows include China Steel Tianyuan (002057) with 24.29 million and Electric Research Institute (300215) with 21.12 million [3] - Conversely, stocks like Huace Testing (300012) and Union Inspection Technology (301115) faced net outflows from retail investors [3]

Core Insights - The project led by North China Electric Power Research Institute has achieved international leading level in key technologies for large-capacity AC excitation variable-speed pumped storage units connected to high-power systems, filling a domestic gap in testing and verification systems for such units [1] Group 1: Project Overview - The project is based on the construction and application of the first domestic 300 MW AC excitation variable-speed pumped storage unit in Fengning, Hebei, and has been organized since 2018 by North China Electric Power Research Institute and State Grid North China Branch [1] - The project involved collaboration with well-known domestic universities, research institutes, and industry units to achieve breakthroughs in system coordination technology, ensuring the unit's timely production and stable operation [1] Group 2: Technological Achievements - Key technological breakthroughs include optimization of network performance for AC excitation variable-speed pumped storage units, detailed electromechanical transient modeling and simulation, and ensuring safe, stable, and economical operation of power plants [1] - The project has established a systematic technology framework for network coordination, which is crucial for the integration of renewable energy sources in the Beijing-Tianjin-Tangshan power grid [1] Group 3: Future Directions - North China Electric Power Research Institute will continue to focus on supporting large-capacity variable-speed pumped storage units for the large-scale consumption of renewable energy in northern Hebei and the safe and efficient operation of Zhangbei flexible DC grid [1] - The institute aims to further improve the key technology system for network coordination of large-capacity AC excitation variable-speed pumped storage units, expand the application fields of these technologies, and contribute to the development of national energy transition and new power system construction [1]

Core Viewpoint - The announcement from the company indicates a significant decline in revenue and a net loss for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company achieved an operating revenue of 375 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 19.08% [1] - The net profit attributable to shareholders of the listed company was -23.2182 million yuan, indicating a loss [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -27.8802 million yuan [1] - The basic earnings per share were reported at -0.03 yuan [1]

证券代码：300215 证券简称：电科院 公告编号：2025-051 苏州电器科学研究院股份有限公司 关于对外投资的公告 苏州电器科学研究院股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日召开了第六届董事会第四次会议，审议通过了《关于对外投资的议案》，现将 有关情况公告如下： 一、对外投资概述 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 上述注册登记信息最终以当地登记机关核准为准。在新加坡投资新设公司须 履行国内境外投资备案以及当地投资许可和企业登记等审批程序。 三、本次对外投资目的、对公司的影响 公司拟通过全资子公司北京景伯科技有限公司（以下简称"北京景伯"）在新 加坡设立全资孙公司Singapore Xiaoxing Testing Services Pte. Ltd.（中文名：新加 坡晓星检测服务有限公司，暂定名具体名称以最终核准名称为准，以下简称"新 加坡公司"），注册资本800万美元，上述资金用于新公司设立筹建、境外办公场 所租赁、采购检测设备及配套设施、技术合作研发及人员薪资。实际投资金额以 国内及当地主管部门批准为准。 同 ...

Core Viewpoint - The company plans to establish a subsidiary in Singapore with a registered capital of 8 million USD to transfer its low-voltage business, amid a significant decrease in orders for certification and testing services, which negatively impacts revenue [1] Group 1: Business Strategy - The company intends to set up a new entity in Singapore through its subsidiary Beijing Jingbo, focusing on low-voltage business operations [1] - The registered capital for the new company is set at 8 million USD [1] Group 2: Financial Impact - There has been a substantial reduction in orders for CCC certification testing from the China Quality Certification Center (CQC) and for welding machine testing from Chengdu Sanfang Electric Testing Co., Ltd., affecting the sustainability and revenue of related business segments [1] Group 3: Internal Opposition - Board members Shi Yongbo and Han Jian oppose the establishment of the new company, citing insufficient justification for the reasons and background of the proposal [1] - Concerns were raised regarding the lack of adequate business revenue projections, unclear funding usage plans, and insufficient risk assessment and control measures [1]

证券代码：300215 证券简称：电科院 公告编号：2025-049 苏州电器科学研究院股份有限公司 第六届董事会第四次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 具体内容详见公司同日于巨潮资讯网（www.cninfo.com.cn）披露的《关于对 外投资的公告》。 （一）审议通过《关于公司 2025 年第三季度报告的议案》 董事会认为：公司 2025 年第三季度报告全文包含的信息公允、全面、真实 的反映了本报告期的财务状况和经营成果等事项，所披露的信息真实、准确、完 整，不存在任何虚假记载、误导性陈述或重大遗漏。 具体内容详见公司同日于巨潮资讯网（www.cninfo.com.cn）披露的《2025 年第三季度报告》。 表决结果：9 票同意、0 票反对和 0 票弃权。 （二）审议通过《关于对外投资的议案》 公司近期来自中国质量认证中心(CQC)的 CCC 认证检测业务订单以及公司 控股子公司成都三方电气检测有限公司的电焊机检测业务订单大幅减少。2025 年 9 月，公司与 CQC 续签了《强制性产品认证委托检测协议书》《产品认证委 托检测协 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥137,510,272.52, a decrease of 9.01% compared to the same period last year[4] - The net profit attributable to shareholders was ¥3,193,949.62, down 72.17% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥16,243.93, a decline of 99.83%[4] - Year-to-date revenue reached ¥375,000,400.11, reflecting a 19.08% decrease compared to the previous year[4] - Total operating revenue decreased to ¥375,000,400.11 from ¥463,410,985.93, representing a decline of approximately 19% year-over-year[19] - Net profit for the period was a loss of ¥22,716,866.12, compared to a profit of ¥16,493,033.25 in the previous period, indicating a significant downturn[20] - The company's operating profit turned negative at -¥19,906,458.36, compared to a positive operating profit of ¥13,921,990.95 in the prior year[20] - Other comprehensive income after tax was ¥816,925.58, with total comprehensive income amounting to -¥21,899,940.54 for the period[21] - The company reported a basic and diluted earnings per share of -¥0.03, compared to ¥0.02 in the previous period[21] Assets and Liabilities - The total assets as of September 30, 2025, were ¥2,494,163,708.20, a decrease of 6.54% from the end of the previous year[4] - Total current assets amount to ¥546,858,241.94, an increase from ¥512,799,951.31 at the beginning of the period[16] - The total non-current assets decreased to ¥1,947,305,466.26 from ¥2,155,803,568.35[17] - The total liabilities decreased to ¥522,465,633.71 from ¥671,260,034.51, a reduction of about 22%[18] - Total equity attributable to shareholders decreased to ¥1,961,185,761.24 from ¥1,987,332,477.82, a decline of approximately 1.3%[18] Cash Flow - Cash flow from operating activities for the year-to-date was ¥219,329,672.55, an increase of 6.24%[4] - Cash flow from operating activities was ¥422,881,796.97, down from ¥478,209,229.31 in the previous period[22] - Net cash flow from operating activities was $219.33 million, compared to $206.44 million in the previous period[23] - Cash outflow from investing activities reached $229.09 million, significantly higher than $50.68 million last year[23] - Net cash flow from investing activities was -$190.39 million, compared to -$10.29 million in the previous period[23] - Cash inflow from financing activities was $100 million, down from $170 million year-over-year[23] - Net cash flow from financing activities was -$96.42 million, compared to -$168.78 million last year[23] - The ending cash and cash equivalents balance was $279.86 million, down from $370.54 million in the previous period[23] Shareholder Information - Total number of common shareholders at the end of the reporting period is 30,007[12] - The largest shareholder, Hu Chun, holds 33.27% of shares, totaling 249,223,791 shares[12] - The second largest shareholder, China Inspection and Certification Group Testing Technology Co., Ltd., holds 25.40% of shares, totaling 190,250,000 shares[12] Investments and Financial Assets - The company reported a significant increase in trading financial assets, which rose by 139.35% to ¥89,962,803.46 due to the purchase of wealth management products[8] - The investment income for the first nine months of 2025 was ¥1,974,433.63, an increase of 178.15% compared to the same period last year[10] - The fair value change income was ¥5,069,480.86, a significant recovery from a loss of ¥5,175,929.97 in the previous year[10] Operational Highlights - The company successfully conducted a short-circuit withstand test for a 400MVA transformer, marking a significant achievement in domestic testing capabilities[15] - The company plans to release new products and technologies, focusing on market expansion and strategic acquisitions[15] Research and Development - Research and development expenses decreased to ¥33,878,033.01 from ¥40,106,039.75, a decline of approximately 15% year-over-year[20] Accounting and Auditing - The company did not undergo an audit for the third quarter financial report[24] - The company will implement new accounting standards starting in 2025[24]

Group 1 - The company Suzhou Electrical Science Research Institute Co., Ltd. was fined 100,000 yuan by the Suzhou Ecological Environment Bureau for failing to properly fill out and operate hazardous waste transfer forms as required by national regulations [1][2] - The fine is based on Article 112, Paragraph 1, Item 5 and Paragraph 2 of the Solid Waste Pollution Prevention and Control Law of the People's Republic of China [2] - The company was established in 1965 and has developed into one of the largest third-party testing institutions in China with comprehensive testing capabilities [2][7] Group 2 - The company provides a wide range of testing services for various electrical products, including high and low voltage electrical components, transformers, and electric vehicles [7] - It was approved as the Jiangsu Provincial High and Low Voltage Electrical and Daily Electrical Appliances Research Institute in 1982 and underwent restructuring in 2000 [2][7] - The company was listed in 2011 under the stock code 300215 [2]

Group 1 - The company, 电科院, announced the establishment of a wholly-owned subsidiary named 海南遥正检测服务有限公司 with an investment of 5 million RMB [2] - The newly formed subsidiary has completed its business registration and obtained a business license from the 海南省市场监督管理局 [2]

Core Viewpoint - The company, Suzhou Electrical Science Research Institute Co., Ltd., has established a wholly-owned subsidiary, Hainan Yaozheng Testing Service Co., Ltd., with an investment of 5 million RMB to further meet its strategic development needs [1]. Group 1 - The subsidiary has completed its business registration and obtained a business license from the Hainan Provincial Market Supervision Administration [1].