证券代码： 300827 证券简称：上能电气 公告编号：2025-059 上能电气股份有限公司 关于公司 2022 年限制性股票激励计划第二批预留授予部分 第二个归属期符合归属条件的公告 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。 重要内容提示： 1、限制性股票拟归属数量：6.0035 万股，占目前公司总股本的 0.0120% 2、归属股票来源：公司向激励对象定向发行公司 A 股普通股股票 3、归属价格（调整后）：16.91 元/股 上能电气股份有限公司（以下简称"公司"）于 2025 年 7 月 21 日召开了第 四届董事会第十五次会议和第四届监事会第十三次会议，审议通过了《关于公司 2022 年限制性股票激励计划第二批预留授予部分第二个归属期符合归属条件的 议案》，董事会认为公司 2022 年限制性股票激励计划（以下简称"本激励计划"） 第二批预留授予部分第二个归属期规定的归属条件已经成就，本次可归属数量为 6.0035 万股，同意为符合条件的 2 名激励对象办理归属相关事宜，现将有关事 项说明如下： 一、2022 年限制性股票激励计划实施情况概要 3 ...

上能电气股份有限公司（以下简称"公司"）监事会依据《中华人民共和国 公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券 法》"）、《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《深圳证券交 易所创业板股票上市规则》（以下简称"《上市规则》"）及《深圳证券交易所创业 板上市公司自律监管指南第 1 号——业务办理》等相关法律、法规、规范性文件 和《公司章程》的有关规定，对公司 2022 年限制性股票激励计划第二批预留授 予部分第二个归属期归属名单进行了核查，发表核查意见如下： 公司 2022 年限制性股票激励计划第二批预留授予部分第二个归属期的 2 名 激励对象符合《公司法》《证券法》等法律、法规和规范性文件以及《公司章程》 规定的任职资格，符合《管理办法》《上市规则》等法律、法规和规范性文件规 定的激励对象条件，符合本激励计划规定的激励对象范围，其作为公司本激励计 划激励对象的主体资格合法、有效。 综上，公司监事会同意公司 2022 年限制性股票激励计划第二批预留授予部 分第二个归属期归属名单，同意为符合归属条件的 2 名激励对象办理 6.0035 万 股第二类限制性股票 ...

证券代码：300827 证券简称：上能电气 公告编号：2025-056 具体内容详见同日在巨潮资讯网（www.cninfo.com.cn）披露的《关于调整 公司 2022 年限制性股票激励计划相关事项的公告》。 上能电气股份有限公司 第四届董事会第十五次会议决议公告 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。 一、董事会会议召开情况 上能电气股份有限公司（以下简称"公司"）第四届董事会第十五次会议通 知已于 2025 年 7 月 18 日通过电子邮件的方式送达。会议于 2025 年 7 月 21 日以 现场结合通讯的方式召开。本次会议应出席董事 9 人，实际出席董事 9 人，公司 监事及高级管理人员列席了会议。会议由公司董事长吴强先生主持，本次会议的 召开符合有关法律、法规及《公司章程》的相关规定。 二、董事会会议审议情况 1、审议通过了《关于调整公司 2022 年限制性股票激励计划相关事项的议 案》； 根据《上市公司股权激励管理办法》《上能电气股份有限公司 2022 年限制性 股票激励计划（草案）》等有关规定，鉴于公司已实施 2024 年度权益分派，董事 ...

证券代码： 300827 证券简称： 上能电气 公告编号：2025-058 上能电气股份有限公司 关于调整公司 2022 年限制性股票激励计划相关事项的公告 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。 上能电气股份有限公司（以下简称"公司"或"上能电气"）于 2025 年 7 月 21 日召开了第四届董事会第十五次会议及第四届监事会第十三次会议，审议 通过了《关于调整公司 2022 年限制性股票激励计划相关事项的议案》，现将有关 情况公告如下： 一、本次限制性股票授予已履行的决策程序和信息披露情况 1、2022 年 8 月 19 日，公司召开第三届董事会第九次会议，审议通过了《关 于<上能电气股份有限公司 2022 年限制性股票激励计划（草案）>及其摘要的议 案》《关于<上能电气股份有限公司 2022 年限制性股票激励计划实施考核管理办 法> 的议案》《关于提请股东大会授权董事会办理公司 2022 年限制性股票激励计 划相关事宜的议案》，公司独立董事对本次股权激励计划的相关事项发表了独立 意见。 2、2022 年 8 月 19 日，公司召开第三届监事会第九 ...

证券代码：300827 证券简称：上能电气 公告编号：2025-057 上能电气股份有限公司 第四届监事会第十三次会议决议公告 本公司及监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、监事会会议召开情况 经监事会审议，形成决议如下： 1、审议通过了《关于调整公司 2022 年限制性股票激励计划相关事项的议 案》； 经监事会审议，鉴于公司已实施 2024 年度权益分派，监事会认为调整公司 2022 年限制性股票激励计划相关事项符合有关法律、法规及《上能电气股份有 限公司 2022 年限制性股票激励计划（草案）》等相关规定，不存在损害股东利 益的情形。因此，监事会同意 2022 年限制性股票激励计划首次授予及预留授予 部分授予价格由 23.79 元/股调整为 16.91 元/股。2022 年限制性股票激励计划 首次授予部分尚未归属的限制性股票数量调整为 193.9670 万股，第一批预留授 予尚未归属的限制性股票数量调整为 13.8076 万股，第二批预留授予部分尚未归 属的限制性股票数量调整为 6.0035 万股。 表决结果：经审议，同意 3 票，反对 0 票，弃权 ...

Investment Rating - Industry Rating: Recommended [5] Core Insights - The report highlights the acceleration of humanoid robot production due to advancements in AI technology and domestic companies' efforts to replace core components, indicating a broad market opportunity [1][15] - The electric vehicle (EV) sector is entering a deep penetration phase, with new high-cost performance models expected to drive sales growth and stabilize the industry in the medium to long term [2][18] - The renewable energy sector is facing rising upstream raw material prices, which are expected to be passed down the supply chain, potentially leading to price rebounds for solar components [3][24] - The UK government's decision to relax AR7 offshore wind auction entry requirements is anticipated to boost investment enthusiasm and accelerate project implementation in the offshore wind sector [4][27] Summary by Sections Humanoid Robots - The launch of the new industrial humanoid robot Walker S2 by UBTECH enables 24/7 operation with a rapid battery swap system, indicating a significant technological breakthrough [1][15] - The report emphasizes the strong domestic demand for core components and the potential for domestic companies to benefit from this trend [1][15] - Key players in the humanoid robot supply chain are expected to see substantial opportunities as the industry matures [1][17] New Energy Vehicles - The report notes that the introduction of multiple new EV models is likely to enhance user experience and drive sales growth [2][18] - The EV industry is characterized by rapid growth, with new technologies and materials expected to improve performance and reduce costs [2][19] - The report identifies several investment opportunities within the EV supply chain, particularly in battery technology and related components [2][23] Renewable Energy - The report discusses the impact of rising prices for upstream materials like silicon, which are expected to lead to price increases for solar components [3][24] - It highlights the ongoing optimization of battery efficiency and the potential for companies with differentiated high-efficiency products to enhance profitability [3][26] - The report also notes the expected reduction in production from glass manufacturers, which could alleviate inventory and pricing pressures in the solar market [3][26] Offshore Wind Energy - The UK government's relaxation of AR7 offshore wind auction rules is seen as a positive signal for the global offshore wind industry, potentially increasing project participation [4][27] - The report anticipates that the extension of contract terms for difference agreements will further stimulate investment in offshore wind projects [4][28] - Key beneficiaries of this trend are expected to include leading domestic companies involved in offshore wind energy [4][28] Energy Storage - The introduction of capacity pricing policies for energy storage in Gansu province is expected to enhance the profitability of long-duration storage projects [8][31] - The report emphasizes the importance of energy storage in balancing renewable energy output and improving utilization rates [8][31] - Companies with technological advantages in energy storage are likely to be the first to benefit from these new policies [8][31]

Group 1 - The core viewpoint of the news highlights the recent decline in the stock price of Shangneng Electric, which has dropped by 5.40% over five consecutive trading days [1] - Shangneng Electric Co., Ltd. (stock code: 300827) is a national high-tech enterprise focused on the research, development, manufacturing, and sales of power electronic products, including photovoltaic inverters and energy storage systems [1] - The company aims to provide leading global "photovoltaic-storage integration" solutions, embodying the development concepts of "green, low-carbon, and efficient" [1] Group 2 - Huatai-PineBridge Fund's Huatai-PineBridge CSI Photovoltaic Industry ETF has entered the top ten shareholders of Shangneng Electric, marking a new investment in the first quarter of this year [1] - The year-to-date return for the ETF is -5.43%, ranking 3398 out of 3424 in its category [1][2] - The fund manager of the ETF, Li Qian, has extensive experience in managing various funds within the company [3][4] Group 3 - Huatai-PineBridge Fund Management Co., Ltd. was established in November 2004, with its chairman and general manager being Jia Bo [5] - The company has three shareholders: PINEBRIDGE INVESTMENT LLC (49%), Huatai Securities Co., Ltd. (49%), and Suzhou New District High-tech Industry Co., Ltd. (2%) [5]

Core Viewpoint - The company is issuing shares to specific investors to raise funds for expanding its production capacity in the photovoltaic and energy storage sectors, amidst a rapidly growing market and increasing competition. Group 1: Financial Performance - The company's net profit attributable to shareholders after non-recurring gains and losses was reported as 69.78 million, 275.75 million, 412.40 million, and 85.79 million yuan over the recent periods, indicating significant growth in profitability [2]. - The company's overseas revenue has shown a growth trend, with figures of 334.92 million, 689.67 million, 1.16288 billion, and 429.18 million yuan, representing respective proportions of 14.33%, 13.99%, 24.39%, and 51.76% of total revenue [3]. Group 2: Industry Context - The photovoltaic and energy storage industries are experiencing rapid development due to government policies supporting renewable energy, leading to increased competition as many domestic and international companies enter the market [2][3]. - The company operates in a sector characterized by technological and capital intensity, with significant funding requirements for business expansion [5]. Group 3: Risks and Challenges - The company faces performance volatility risks due to increasing competition in the photovoltaic and energy storage sectors, which may affect market share and profit margins [2]. - There are risks associated with potential changes in government policies that could impact the demand for photovoltaic and energy storage products, affecting the company's operational performance [3]. - The company has a significant amount of accounts receivable, totaling 2.32 billion yuan, which constitutes 37.67% of current assets, posing risks to cash flow if collection periods extend [5]. - The company is also exposed to risks related to high levels of inventory, which amounted to 1.70 billion yuan, representing 24.11% of current assets, potentially leading to write-downs if market conditions change [6]. Group 4: Future Plans and Investments - The company plans to use the raised funds for projects including the annual production of 25GW of string inverters and 15GW of energy storage inverters, which are expected to significantly enhance production capacity [8][10]. - The total amount to be raised is capped at 1.6486 billion yuan, with net proceeds allocated entirely to the specified projects [8][10].

Group 1 - The company received an inquiry letter from Shenzhen Stock Exchange regarding its application for a specific stock issuance on April 28, 2025 [1][2] - The company, along with relevant intermediaries, conducted a thorough review of the inquiry letter and provided detailed responses to the questions raised [2] - The company updated and revised the application documents based on further feedback from the Shenzhen Stock Exchange, with the revised responses disclosed on July 11, 2025 [2] Group 2 - The stock issuance is subject to approval from the Shenzhen Stock Exchange and registration consent from the China Securities Regulatory Commission, with uncertainties regarding the approval timeline [3] - The company will fulfill its information disclosure obligations based on the progress of this matter, urging investors to pay attention to investment risks [3]

公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 关于上能电气股份有限公司申请 向特定对象发行股票的审核问询函的专项说明 深圳证券交易所： 根据贵所于 2025 年 4 月 28 日下发的审核函〔2025〕020016 号《关于上能 电气股份有限公司申请向特定对象发行股票的审核问询函》（以下简称"问询函"） 的要求，本所作为上能电气股份有限公司（以下简称"发行人"或"公司"）向 特定对象发行股票的会计师事务所，本着勤勉尽责和诚实信用的原则，就相关问 题进行了认真核查，现对核查情况说明如下： 注： 1、本回复说明中的字体代表以下含义： | 黑体（加粗） | 审核问询函所列问题 | | --- | --- | | 宋体 | 审核问 ...