证券代码：300831 证券简称：派瑞股份 公告编号：2026-003 西安派瑞功率半导体变流技术股份有限公司 关于使用部分闲置募集资金进行现金管理到期赎回的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 西安派瑞功率半导体变流技术股份有限公司（以下简称"公司"）于 2024 年 10 月 24 日 召开了第三届董事会第五次会议及第三届监事会第四次会议，审议通过了《关于使用部分闲置 募集资金进行现金管理的议案》，同意公司在确保不影响募集资金投资计划的正常进行、不改 变募集资金使用用途及保证资金安全的前提下，使用总额度不超过人民币 25,000 万元（含本 数）的闲置募集资金进行现金管理，投资安全性高、流动性好的产品（包括但不限于大额可转 让存单、结构性存款、协定存款、通知存款、定期存款及国债逆回购品种等）。授权有效期限 为 18 个月，募集资金使用额度及授权有效期自董事会通过后 2025 年 1 月 1 日起生效，在前述 额度和期限内，资金可循环滚动使用；同意董事会授权公司董事长或董事长授权人在上述有效 期内和额度范围内签署相关合同文件，具体事项由公 ...

Core Viewpoint - The company will disclose the number of employees, R&D investment, and patent application status in its 2025 annual report, which is expected to be released on April 25, 2026 [2]. Group 1 - The company is responding to investor inquiries regarding the number of employees by the end of 2025 [2]. - The company will provide information on R&D investment in the upcoming annual report [2]. - The status of patent applications, whether they have increased or decreased year-on-year, will also be included in the 2025 annual report [2].

Core Viewpoint - The company acknowledges the impact of client project progress on product acceptance and revenue recognition, emphasizing a commitment to timely project completion and performance improvement [1] Group 1: Company Performance and Operations - The company is actively cooperating with clients to advance project acceptance, aiming to recognize revenue in accordance with accounting standards [1] - The company maintains a solid operational foundation and a sufficient order backlog, indicating stability in its business environment [1] - Management is committed to responsible operations and aims to enhance performance to reward investor trust [1]

Core Viewpoint - The company expects a significant decline in net profit for 2025, indicating challenges in the industry cycle and demand rhythm [1] Financial Performance - The projected net profit attributable to shareholders for 2025 is between 39 million to 54 million yuan, representing a year-on-year decrease of 45.32% to 24.29% [1] - The net profit after deducting non-recurring gains and losses is expected to be between 28 million to 41.5 million yuan, reflecting a decline of 58.08% to 37.87% compared to the previous year [1] Asset Management - The company has made provisions for asset impairment based on the principle of prudence due to signs of impairment in related assets [1]

Core Viewpoint - The company, Pairui Co., Ltd. (300831), has announced a profit forecast for 2025, expecting a significant decline in net profit and non-recurring net profit compared to the previous year [4]. Financial Performance - The forecasted net profit for 2025 is estimated to be between 39 million to 54 million yuan, representing a year-on-year decrease of 24.29% to 45.32% [4]. - The expected non-recurring net profit is projected to be between 28 million to 41.5 million yuan, indicating a year-on-year decline of 37.87% to 58.08% [4]. - As of January 29, the company's price-to-earnings ratio (TTM) is approximately 76.86 to 106.42 times, with a price-to-book ratio (LF) of about 4.53 times and a price-to-sales ratio (TTM) of around 34.91 times [4]. Industry Context - The company specializes in the research, development, production, testing, verification, sales, and service of power semiconductor devices and power electronic equipment [14]. - The decline in performance is attributed to the impact of industry cycles and demand fluctuations, leading to a year-on-year revenue decrease [14]. - The company has made impairment provisions for related assets showing signs of impairment, following a cautious approach [14].

Financial Forecast - The company forecasts a net profit attributable to shareholders for 2025 between ¥39 million and ¥54 million, representing a decrease of 45.32% to 24.29% compared to the previous year[5] - The net profit after deducting non-recurring gains and losses is expected to be between ¥28 million and ¥41.5 million, reflecting a decline of 58.08% to 37.87% year-over-year[5] Revenue and Performance - The revenue decline is attributed to industry cycles and demand fluctuations impacting the company's performance[7] Asset Management - The company has made provisions for asset impairment based on prudence due to signs of impairment[8] Financial Reporting - The financial data presented is preliminary and has not been audited by external auditors, with detailed financial results to be disclosed in the 2025 annual report[6][10]

Group 1 - The core point of the article is that the company, Pirey Co., has reported a total of 34,650 shareholders as of January 20, 2026 [1]

Regulatory Investigation - The company, Pairui Co., has been officially investigated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, as announced on December 26 [1][3] - The investigation follows the company's self-examination, which revealed accounting errors related to the recognition of revenue in a sales contract for the fiscal year 2024 [4][5] Accounting Errors - Pairui Co. identified that it had delayed the recognition of certain revenues, leading to a correction of multiple periodic reports [4][5] - Specifically, the company reported a reduction in recognized operating income of 22.7151 million yuan and a corresponding decrease in total profit of 17.1173 million yuan for 2024 [5] - The adjustments resulted in a revised net profit attributable to the parent company for 2024, changing from 56.7752 million yuan to 71.3249 million yuan, and for the first three quarters of 2025, from 20.1096 million yuan to 5.5596 million yuan [5] Investor Compensation - Investors who suffered losses due to the information disclosure violations have legal avenues for compensation, with eligibility for claims set for those who purchased shares before December 26, 2025, and sold or held them after December 27, 2025 [2][5] - As of January 9, 2026, the total number of shareholders in Pairui Co. was reported to be 30,699 [2]

Core Viewpoint - The announcement of a 4 trillion yuan investment by the State Grid during the 14th Five-Year Plan period marks a significant increase of 40% compared to the previous plan, indicating a historic peak in investment aimed at technological innovation and the construction of a new power system [1][5]. Investment Plans - The State Grid's investment plan for the 14th Five-Year Plan is set at 4 trillion yuan, while the Southern Power Grid plans to invest 175 billion yuan in 2025, indicating a synchronized increase in investment from both major grid companies [5]. - The combined investment plans suggest that China's grid investment scale may reach an average of 1 trillion yuan annually during the 14th Five-Year Plan period [5]. Focus Areas of Investment - The 4 trillion yuan will primarily focus on technological innovation and the construction of a new power system, with an expected annual increase of 20 million kilowatts in installed capacity for wind and solar energy [6]. - The investment aims to enhance the system's adjustment capabilities, optimize the layout of pumped storage stations, and support the large-scale development of new energy storage [6]. Market Reaction - Following the announcement, the electric grid equipment ETF saw an opening increase of over 6%, closing with a 2.05% gain, with several stocks reaching their daily limit [3][4]. Industry Opportunities - The 4 trillion yuan investment is expected to create a ripple effect across the entire industry chain, benefiting five major sectors including ultra-high voltage, main network equipment, and distribution network upgrades [8]. - The ultra-high voltage sector is highlighted as a key focus, with significant projects already underway and more expected to be approved in the coming years [8]. Future Demand - The demand for grid upgrades is driven by the increasing electricity demand, projected to grow by over 40% globally by 2035, alongside a doubling of electricity consumption from artificial intelligence [7]. - The investment in distribution networks is also emphasized, with a focus on smart upgrades and the anticipated release of demand for primary and secondary equipment [9].

Core Viewpoint - The company, Pirelli Co., stated that its power semiconductor devices can be utilized in the commercial aerospace sector, but currently, there are no actual applications [1]. Company Summary - Pirelli Co. has indicated the potential use of its power semiconductor devices in the commercial aerospace industry [1]. - Despite the potential, there are no existing applications of these devices in the market at this time [1].