Core Viewpoint - The company, Yangdian Technology, indicated that its gross margin fluctuations are primarily influenced by changes in raw material prices, market sales competition, and product structure variations [2] Group 1 - The company's gross margin is affected by raw material price changes [2] - Market sales competition plays a significant role in the company's gross margin fluctuations [2] - Variations in product structure also impact the company's gross margin [2]

Core Viewpoint - Yangdian Technology is recognized for its advanced production technology and capabilities in amorphous transformers, being one of the early companies in China to engage in the research and production of these transformers [1] Group 1: Company Overview - The company has developed core patented technologies for the application of amorphous materials in transformers [1] - Yangdian Technology possesses high production technology and capacity for amorphous transformers [1]

Group 1 - Guodian NARI (600406) is a state-owned enterprise based in Nanjing, recognized as a benchmark for scientific reform among central enterprises, with a strong research and development system and significant achievements in grid technology [1] - The company has a market share of over 75% in dispatch automation systems and over 50% in UHV converter valves, with its products addressing grid stability issues caused by renewable energy generation [1] - The demand for AI computing power and electricity is driving the construction of new power systems, and the company is expanding its overseas business, exporting products like distribution transformers to multiple countries [1] Group 2 - Suyuan Electric (002028) is a comprehensive supplier of power transmission and distribution based in Shanghai, focusing on UHV and energy storage sectors, and is the largest manufacturer of high-voltage packages and coils in China [2] - The company expects 60% of its overseas revenue in 2024 to come from transformers, with overseas orders growing over 50% and a remarkable 89% growth in the first half of 2025 [2] - The surge in demand for high-voltage transmission and distribution equipment driven by AI computing centers and new energy projects presents significant growth opportunities for the company [2] Group 3 - China XD Electric (601179) is a state-owned enterprise based in Xi'an, specializing in high and ultra-high voltage transformers and power transmission and distribution equipment, capable of producing products across a voltage range of 10kV to 1000kV [3] - The company has a significant market share in UHV projects and has seen an increase in exports to Europe, with its technology reaching international advanced levels [3] - The demand for UHV technology is increasing due to the need for long-distance power transmission, and the company is well-positioned to meet both domestic and international market needs [3] Group 4 - Baobian Electric (600550) is a core supplier of UHV DC transformers based in Baoding, with a strong position in high-end transformers and a market share of 30% in UHV products [4] - The company has unique technologies that reduce material costs and has participated in major projects, exporting to over 40 countries [4] - The urgent demand for high-reliability transformers driven by AI computing centers and new energy power stations positions the company to benefit from both domestic and international projects [4] Group 5 - Jinpan Technology (688676) is a leading global manufacturer of dry-type transformers based in Haikou, focusing on wind and solar energy applications, with 98% of its products supporting renewable energy [5] - The company has a significant order backlog of 2.85 billion yuan for 2025, reflecting a substantial year-on-year growth of 180% [5] - The increasing demand for efficient dry-type transformers from AI computing centers and the proliferation of renewable energy generation presents a strong growth opportunity for the company [5] Group 6 - Mingyang Electric (301291) is a leader in offshore wind power transformers based in Zhongshan, specializing in dry-type transformers and prefabricated substations [6] - The company has developed products that meet the extreme conditions of offshore environments and is expected to achieve significant sales in North America by 2026 [6] - The growing demand for offshore wind power and the urgent need for grid upgrades in North America provide ample order support for the company [6] Group 7 - Teruid (300001) is a pioneer in outdoor box-type power equipment based in Qingdao, recognized as a champion enterprise in manufacturing [7] - The company has a complete technology system for modular prefabricated substations and has a leading market share in the new energy sector [7] - The demand for modular products from AI computing centers and the need for grid upgrades position the company to capture significant market growth [7] Group 8 - XJ Electric (000400) is a high-tech enterprise based in Xuchang, focusing on UHV and smart grid technologies, with a comprehensive industrial chain covering all aspects of power transmission and distribution [8] - The company has participated in all domestic UHV DC transmission projects and has a strong patent portfolio [8] - The growth in AI computing and electricity demand is accelerating the construction of smart grids, providing competitive advantages for the company [8] Group 9 - Sifang Co., Ltd. (601126) is based in Beijing and has a strong advantage in smart distribution networks, providing a full range of products for self-healing control and primary and secondary integration [9] - The company has implemented its products in over 30 provinces and cities, significantly improving efficiency in power distribution [9] - The demand for reliable power supply from AI computing centers and the ongoing digital transformation of distribution networks present broad development opportunities for the company [9] Group 10 - Samsung Medical (601567) is based in Ningbo and operates in both smart power distribution and medical services, covering a wide range of products in the power equipment sector [10] - The company has established manufacturing bases in multiple locations and has a marketing presence in over 70 countries [10] - The construction of AI computing centers and new energy projects requires substantial power distribution equipment, positioning the company to benefit from global demand growth [10]

Group 1 - The company, Yangdian Technology, announced that its third board meeting will be held on January 12, 2026, in Jiangsu Taizhou, focusing on the revision of certain governance systems [1] Group 2 - The article highlights the advancements in China's "plant factory" technology, which allows for rice production cycles to be reduced from 120 days to 60 days, eliminating pests and the need for pesticides [1] - The production capacity of these facilities is stated to be over 120 times that of traditional fields, with one person able to manage an entire building [1]

证券代码：301012 证券简称：扬电科技 公告编号：2026-004 江苏扬电科技股份有限公司 关于2026年1-3月日常关联交易预计的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 江苏扬电科技股份有限公司（以下简称"公司"）于2026年1月12日召开 第三届董事会第六次会议审议通过《关于2026年1-3月日常关联交易预计的议 案》。公司独立董事专门会议对该议案发表了同意的审查意见，该议案无需 提交公司股东大会审议。现将相关事项公告如下： 一、日常关联交易基本情况 （一）日常关联交易概述 公司与 INDUSTRIAS MECANOELECTRICAS FONTECHA YEBENES SL共同出资设 立成立子公司伊美飞变压器（江苏）有限公司（以下简称伊美飞公司），根据 伊美飞公司章程，其股东会决议事项需要须经代表伊美飞公司表决权至少三分 之二（2/3）的股东投赞成票通过方为有效。公司持有伊美飞公司51%的股权， 无法单独控制股东会的表决结果，未对其形成控制，伊美飞公司是公司的联营 子公司，公司与伊美飞公司之间的交易为关联交易。根据经营规划，公司出售 ...

江苏扬电科技股份有限公司 信息披露管理制度 二〇二六年一月 江苏扬电科技股份有限公司 信息披露管理制度 第一章 总则 第一条 为保障江苏扬电科技股份有限公司（以下简称"公司"）信息披露合法、 真实、准确、完整、及时，保护投资者合法权益，根据《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》"）、 《上市公司信息披露管理办法》、《深圳证券交易所创业板股票上市规则》（以下简 称"《上市规则》"）、《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》（以下简称"《规范运作指引》"）等法律、法规以及《江苏扬电 科技股份有限公司章程》（以下简称"《公司章程》"）相关规定，特制定《江苏扬电 科技股份有限公司信息披露管理制度》（以下简称"本制度"）。 第二条 本制度所称公平信息披露是指公司及相关信息披露义务人应当同时向 所有投资者公开披露重大信息，确保所有投资者可以平等获取同一信息，不得私下 提前向特定对象单独披露、透露或者泄露。 本制度所称重大信息是指对公司股票及其衍生品种交易价格可能或者已经产 生重大影响的信息，包括下列信息： （一） 与公司业绩 ...

江苏扬电科技股份有限公司 第三届董事会第六次会议决议公告 证券代码：301012 证券简称：扬电科技 公告编号：2026-003 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。 一、董事会会议召开情况 江苏扬电科技股份有限公司（以下简称"公司"）第三届董事会第六 次会议于2026年1月12日以现场结合通讯表决方式在江苏泰州姜堰经济开 发区天目路690号公司会议室召开。会议通知于2026年1月9日以邮件、专 人送达等《公司章程》认可的方式送达全体董事。本次会议应出席董事5 名，实际参与表决董事5名。公司高级管理人员列席了会议。本次董事会 由董事长汤雪梅女士召集并主持。本次会议的召开符合《公司法》和《公 司章程》等相关法律法规的有关规定，会议合法、有效。 2、审议通过了《关于2026年1-3月日常关联交易预计的议案》 表决结果：同意 5 票，反对 0 票，弃权 0 票。 本议案已经独立董事专门会议审议通过，无需提交股东会审议。 详见同日刊登在中国证监会指定的创业板信息披露网站巨潮资讯网 《关于2026年1-3月日常关联交易预计的公告》。 三、备查文件 1.第三届董 ...

Market Performance - The grid equipment sector increased by 1.94% compared to the previous trading day, with HeShun Electric leading the gains [1] - The Shanghai Composite Index closed at 4085.77, up 0.05%, while the Shenzhen Component Index closed at 14030.56, up 0.06% [1] Individual Stock Performance - HeShun Electric (300141) closed at 14.58, up 10.37%, with a trading volume of 605,600 shares and a transaction value of 921 million [1] - Sanbian Technology (002112) closed at 15.58, up 10.03%, with a trading volume of 435,200 shares and a transaction value of 670 million [1] - China West Electric (601179) closed at 10.59, up 9.97%, with a trading volume of 1,904,900 shares and a transaction value of 1.979 billion [1] - Other notable performers include Far East Holdings (600869) and Hangzhou Colin (688611), with increases of 9.97% and 9.64% respectively [1] Capital Flow Analysis - The grid equipment sector saw a net inflow of 1.154 billion in main funds, while retail investors experienced a net outflow of 373 million [2][3] - Major stocks like China West Electric and Sanbian Technology attracted significant main fund inflows of 653 million and 259 million respectively [3] - Conversely, retail investors withdrew from these stocks, indicating a divergence in investment behavior between institutional and retail investors [3]

Group 1 - The core point of the article is that Yangdian Technology (301012.SZ) announced a share transfer agreement involving the transfer of 25,522,956 shares, representing 12.96% of the company's total shares, from Cheng Junming to Hantang Yunzhi [1] - The share transfer agreement was signed on January 4, 2026, with a transfer price of RMB 22.8450 per share, totaling approximately RMB 583.07 million [1]

Core Viewpoint - Cheng Junming transferred 25,522,956 shares of Yangdian Technology, representing 12.96% of the total share capital, to Sichuan Hantang Yunzhi Technology Co., Ltd, completing the equity change [1] Group 1: Shareholding Changes - After the transfer, Cheng Junming's shareholding decreased from 53,508,000 shares to 27,985,044 shares, reducing his ownership percentage from 27.17% to 14.21% [1] - Prior to the transfer, Cheng Junming had waived all voting rights associated with his shares, but after the transfer, he regained voting rights corresponding to his new shareholding [1] Group 2: Control and Ownership - Hantang Yunzhi holds 43,331,236 shares, accounting for 22.00% of the total share capital, remaining the controlling shareholder [1] - The actual controller of the company remains Nie Kunlin, indicating no change in control following the share transfer [1] Group 3: Financial Details - The share transfer price was set at 22.8450 yuan per share, totaling 583 million yuan for the transaction [1] - The shares involved in the transfer are free from any pledges, freezes, or other rights restrictions [1] Group 4: Future Plans - Cheng Junming has stated that there are currently no plans to increase or decrease his holdings within the next 12 months, but he does not rule out the possibility of future share disposals [1]