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。 运达能源科技集团股份有限公司（以下简称"公司"）定于2026年4月3日（周 五）15:00-17:00在全景网举办2025年度网上业绩说明会，本次业绩说明会将采 用网络远程的方式举行，投资者可登陆全景网"投资者关系互动平台" （https://ir.p5w.net ）参 与本 次业绩 说明 会或者 直接 进入公 司路 演厅 （https://ir.p5w.net/c/300772.shtml）参与本次业绩说明会。 证券代码：300772 证券简称：运达股份 公告编号：2026-024 运达能源科技集团股份有限公司 关于举行2025年度网上业绩说明会的公告 （问题征集专题页面二维码） 特此公告。 运达能源科技集团股份有限公司 董事会 2026 年 3 月 31 日 出席本次说明会的人员有：公司董事长陈棋先生，副总经理、董事会秘书魏 敏先生，总会计师、财务负责人、总法律顾问吴明霞女士，独立董事潘斌先生及 保荐代表人彭波先生。 为充分尊重投资者、提升交流的针对性，现就公司 2025 年度业绩说明会提 前向投资者公开征集 ...

财通证券股份有限公司 关于运达能源科技集团股份有限公司 收购报告书之2025年四季度持续督导意见 财通证券股份有限公司（以下简称"财通证券"或"财务顾问"）接受浙江省机电 集团有限公司（以下简称"机电集团"或"收购人"）的委托，担任本次免于发出要约 收购运达能源科技集团股份有限公司（以下简称"运达股份"或"公司"）的财务顾问， 根据《上市公司收购管理办法》等相关法律法规的规定，持续督导期自运达股 份公告《运达能源科技集团股份有限公司收购报告书》（以下简称"《收购报告 书》"）之日起至收购完成后的12个月止（即从2025年3月3日至本次收购完成后 的12个月止）。 2026年3月24日，运达股份披露2025年年度报告。通过日常沟通，结合公司 的2025年年度报告、其他定期公告和临时公告，本财务顾问出具2025年四季度 （2025年10月1日至2025年12月31日，以下简称"本持续督导期"）的持续督导意 见，具体情况如下： 一、交易资产的交付或过户安排 （一）本次免于发出要约收购情况 2025年3月3日，运达股份以8.22元/股的价格向特定对象发行股票85,158,150 股（以下简称"本次发行"），本次发行的 ...

Summary of the Conference Call for Wind Power Company Industry Overview - The wind power industry in China is expected to add approximately 130 GW of new installed capacity in 2025, representing a year-on-year increase of 50% [2][3] - The market is showing a clear trend of concentration among leading companies, with the company ranking second in domestic bidding volume [3] - The order conversion rate in the industry is expected to remain between 40% and 50% [2][3] - The geopolitical situation in the Middle East may impact logistics for equipment exports, particularly in the Red Sea and Persian Gulf regions [3] Company Performance - The company anticipates a revenue of 29.4 billion yuan in 2025, a 32% increase, but a net profit decline of 26.87% due to the digestion of low-priced orders from 2024 [2][3] - The company had a backlog of orders totaling 45.48 GW by the end of 2025, with a shipment target of no less than 20 GW for 2026 [2][4] - The company achieved a sales revenue of 26.43 billion yuan from wind turbine sales, with an external sales capacity of 18.16 GW, a 56% increase year-on-year [3][4] Supply Chain and Cost Implications - Supply chain costs are influenced by the geopolitical situation, with potential long-term oil prices exceeding $100 per barrel affecting raw material prices [2][5] - The overall procurement volume for 2026 is expected to exceed that of 2025, with a stable supply situation for leading companies [5] - The company has experienced a slight increase in wind turbine gross margin in 2025, but remains affected by low-priced orders from 2024 [6][13] Business Strategy and New Initiatives - The company is shifting its strategy to focus on high-margin regions and avoid low-price competition in markets like Saudi Arabia [2][10] - New business initiatives include green electricity parks and collaborative electricity solutions, with a successful integration of an 80,000 kW green ferroalloy project in Inner Mongolia [2][4][16] - The company aims to add at least 1 million kW of new grid-connected capacity in 2026 and accelerate asset transfers [4][17] Research and Development - The company plans to increase R&D investment, targeting a research expense ratio of 4% in line with government guidelines [17] - R&D efforts will focus on developing larger wind turbine models to meet market demands in various marine environments [17] Market Outlook - The company aims for overseas new orders of no less than 2 GW in 2026, with a focus on securing profitable contracts [15][18] - The company is diversifying its international market strategy, focusing on regions like North Africa, Eastern Europe, and South America, while being cautious about low-price competition in the Middle East [18][19] Conclusion - The company is positioned to navigate the challenges of the wind power industry while focusing on profitability and strategic growth in both domestic and international markets. The emphasis on R&D and new business models will be crucial for long-term success.

| 投 资 | 关 | 活 √特定对象调研 | □分析师会议 | | 系 | 者 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 动类别 | | □媒体采访 | □业绩说明会 | | | | | | | | □新闻发布会 □路演活动 | | | | | | | | | □现场参观 | | | | | | | | | √其他 （电话会议） | | | | | | | 参 与 | 位 | 国信证券、中金公司、国海证券、国金证券、长城证券、长 称 | | | 名 | 单 | | | 及人员姓名 | | 江证券、天风证券、财通证券、摩根士丹利及上述证券公司 | | | | | | | | | 邀请的投资者等。 | | | | | | | 时间 | | 2026 年 3 月 24 日 | | | | | | | 市 | 司 | 董事会秘书兼副总经理 魏敏 | | 上 | 接 | 公 | 待 | | 人员姓名 | | | | | | | | | | | 一、行业及公司基本情况介绍 | | | | | | | | | 公司所处行业情况及主要业务介绍，2025 ...

Investment Rating - The industry investment rating is "Positive" indicating an expectation that the industry index will outperform the market index by more than 5% over the next six months [10]. Core Insights - The report highlights recent wind power bidding results from March 16 to March 20, 2026, with a total of 1 project for 30MW wind turbine procurement by China Resources [2]. - A total of 2 onshore wind projects were awarded, amounting to 140MW, with an average winning bid price of 2279.05 CNY/kW. The highest bid was 2283.1 CNY/kW for a 50MW project in Shandong, while the lowest was 2275 CNY/kW for a 90MW project in Hainan [3]. - Excluding tower structures, there were 25 onshore wind projects totaling 3188.4MW, with an average winning bid price of 1567.04 CNY/kW. The highest bid was 1880 CNY/kW for an 80MW project in Shanxi, and the lowest was 1270 CNY/kW for a 200MW project in Inner Mongolia [3]. - There was 1 offshore wind project awarded, totaling 308MW, with a winning bid price of 2535 CNY/kW [3]. Summary by Sections Wind Power Bidding Scale - The total wind power bidding scale from March 16 to March 20, 2026, included 1 project with a capacity of 30MW [2]. Wind Power Winning Bids - The total winning bids for onshore wind projects included 2 projects with a total capacity of 140MW and 25 projects totaling 3188.4MW, with average prices of 2279.05 CNY/kW and 1567.04 CNY/kW respectively [3]. - The offshore wind project included 1 project with a total capacity of 308MW and a winning bid price of 2535 CNY/kW [3]. Investment Recommendations - The report suggests focusing on investment opportunities in the offshore wind sector, particularly in areas such as submarine cables, marine engineering, and foundation piles, as well as companies with strong overseas bidding capabilities [4].

运达能源科技集团股份有限公司 2026 年面向专业投资者公开发行绿 页） | 债券面值 | 100 | 元/张 | | --- | --- | --- | | 开盘参考价 | 100 | 元/张 | （以下无正文） （本页无正文，为《运达能源科技集团股份有限公司 2026 年面向专业投资者公 开发行绿色可续期公司债券（第一期）在深圳证券交易所上市的公告》之盖章 运达能源科技集团股份有限公司 年 月 日 2026 3 25 色可续期公司债券（第一期）在深圳证券交易所上市的公告 根据深圳证券交易所债券上市的有关规定，运达能源科技集团股份有限公司 2026 年面向专业投资者公开发行绿色可续期公司债券（第一期）符合深圳证券 交易所债券上市条件，将于 2026 年 3 月 26 日起在深圳证券交易所上市，并面向 专业投资者中的机构投资者交易，交易方式包括匹配成交、点击成交、询价成交、 竞买成交和协商成交。债券相关要素如下： | 债券名称 | | | | | 运达能源科技集团股份有限公司 | 2026 | 年面向专业投资 | | | | --- | --- | --- | --- | --- | --- | --- | ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [5]. Core Insights - The company reported a revenue of 29.4 billion yuan for 2025, a year-on-year increase of 32.5%, but the net profit attributable to shareholders decreased by 26.9% to 340 million yuan [2]. - In Q4, the company achieved a revenue of 10.9 billion yuan, reflecting a 32.0% year-on-year growth and a 43.8% quarter-on-quarter increase, while the net profit dropped by 55.3% year-on-year [2]. - The sales gross margin in Q4 was 4.99%, down 4.28 percentage points from the previous quarter, primarily due to the delivery of low-priced orders [3]. - The company has a strong order backlog of approximately 45.5 GW, which is expected to support sales growth in 2026, with a forecasted wind turbine sales increase of 56.3% to 18.2 GW in 2025 [3]. - The energy storage business is expanding successfully, with a revenue of 970 million yuan and a net profit of 40 million yuan from its subsidiary, indicating a turnaround [4]. - The company is projected to achieve net profits of 1.06 billion yuan, 2.02 billion yuan, and 2.57 billion yuan for 2026, 2027, and 2028, respectively, with corresponding P/E ratios of 14, 7, and 6 [5]. Summary by Sections Performance Review - The company reported a total revenue of 29.4 billion yuan for 2025, a 32.5% increase year-on-year, while the net profit attributable to shareholders was 340 million yuan, down 26.9% [2]. Operational Analysis - The Q4 sales gross margin was 4.99%, a significant decrease due to the concentration of low-priced order deliveries. The company anticipates a shift towards higher-priced orders in 2026-2027, which should enhance profitability [3]. - The company maintained a high order backlog of 45.5 GW, with expectations for continued sales growth in 2026 [3]. Energy Storage Business - The energy storage segment is performing well, with the subsidiary achieving a revenue of 970 million yuan and a net profit of 40 million yuan, indicating a successful turnaround [4]. Profit Forecast and Valuation - The company is expected to generate net profits of 1.06 billion yuan, 2.02 billion yuan, and 2.57 billion yuan for the years 2026, 2027, and 2028, respectively, with P/E ratios of 14, 7, and 6 [5].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [5]. Core Insights - The company reported a revenue of 29.4 billion yuan for 2025, a year-on-year increase of 32.5%, but the net profit attributable to shareholders decreased by 26.9% to 340 million yuan [2]. - The fourth quarter saw a revenue of 10.9 billion yuan, reflecting a 32.0% year-on-year growth and a 43.8% quarter-on-quarter increase, while net profit dropped by 55.3% year-on-year [2]. - The company is expected to see an increase in the proportion of high-priced orders in its delivery structure, which should improve profitability in the manufacturing segment [3]. - The company has a strong order backlog of approximately 45.5 GW, which is expected to support sales growth in 2026 [3]. - The energy storage business is progressing well, with a revenue of 970 million yuan and a net profit of 40 million yuan from its subsidiary, indicating a turnaround [4]. - Forecasts for net profit from 2026 to 2028 are 1.06 billion, 2.02 billion, and 2.57 billion yuan, respectively, with corresponding P/E ratios of 14, 7, and 6 [5]. Summary by Sections Performance Review - In 2025, the company achieved a revenue of 29.4 billion yuan, a 32.5% increase year-on-year, while net profit fell to 340 million yuan, down 26.9% [2]. Operational Analysis - The Q4 gross margin was 4.99%, a decrease of 4.28 percentage points, primarily due to the delivery of low-priced orders [3]. - The company sold 18.2 GW of wind turbines in 2025, a 56.3% increase, with a backlog of 45.5 GW, up 14.1% year-on-year [3]. Energy Storage Business - The energy storage segment is expected to contribute significantly to revenue growth, with successful projects and a strong demand outlook [4]. Profit Forecast and Valuation - The company is projected to have net profits of 1.06 billion yuan in 2026, with a P/E ratio of 14, indicating potential for significant earnings growth [5].

二、聘任会计师事务所履行的程序 公司董事会审计委员会对容诚会计师事务所的执业情况进行了充分的了解， 在查阅了容诚会计师事务所有关资格证照、相关信息和诚信记录后，认可容诚会 计师事务所的独立性、专业胜任能力和投资者保护能力。审计委员会就聘任容诚 会计师事务所的事项形成了书面审核意见，同意聘任容诚会计师事务所为公司 2025 年度财务及内部控制审计机构并提交公司董事会审议。 公司董事会于 2025 年 7 月 11 日召开第五届董事会第三十一次会议、并于 2025 年 7 月 29 日召开 2025 年第一次临时股东大会，审议通过了《关于聘任公 司 2025 年度审计机构的议案》，同意聘任容诚会计师事务所为公司 2025 年度财 务及内部控制审计机构，2025 年度容诚会计师事务所为公司提供财务报告审计 费用 138 万元和内控审计费用 30 万元，共计 168 万元。 三、2025 年度审计履职情况 运达能源科技集团股份有限公司董事会 对 2025 年度会计师事务所履职情况评估报告 根据《国有企业、上市公司选聘会计师事务所管理办法》等规定和要求，运 达能源科技集团股份有限公司（以下简称"公司"）董事会对公司 2 ...

证券代码：300772 证券简称：运达股份 公告编号：2026-017 运达能源科技集团股份有限公司董事会 关于募集资金年度存放、管理与使用情况的专项报告 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。 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 根据中国证券监督管理委员会《关于同意运达能源科技集团股份有限公司向特定对 象发行股票注册的批复》（证监许可〔2025〕167 号），公司已完成向特定对象发行股票 85,158,150 股，发行价格为每股人民币 8.22 元，募集资金总额为人民币 699,999,993 元， 扣除发行相关费用 3,707,547.17 元后，实际募集资金净额为 696,292,445.83 元，上述资 金已于 2025 年 2 月 19 日到账。天健会计师事务所（特殊普通合伙）已于 2025 年 2 月 20 日对上述募集资金到账情况进行了审验，并出具了天健验〔2025〕28 号《验资报告》。 公司对募集资金采取了专户存储管理。 | 项目 | | 序号 | 金额 | | --- | --- | --- | --- | ...