深耕变电站巡视垂类 AI，有望受益于电 网支出稳定增加 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 杨林(分析师) | 021-23183969 | yanglin2@gtht.com | S0880525040027 | | 魏宗(分析师) | 021-23180000 | weizong@gtht.com | S0880525040058 | | 钟明翰(研究助理) | 021-38031383 | zhongminghan@gtht.com | S0880124070047 | 本报告导读： 公司是电力信息系统与数智化整体解决方案领域的标杆企业。受益于"双碳"目标 下建设新型电力系统的需求，公司未来发展空间广阔。同时公司深耕 AI技术研发， 打造 AI 多模态大模型，并在电力巡检智能机器人领域探索投入，打造新增长曲线。 投资要点： | [Table_Finance] 财务摘要(百万元) | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- ...

深耕变电站巡视垂类 AI，有望受益于电 网支出稳定增加 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 杨林(分析师) | 021-23183969 | yanglin2@gtht.com | S0880525040027 | | 魏宗(分析师) | 021-23180000 | weizong@gtht.com | S0880525040058 | | 钟明翰(研究助理) | 021-38031383 | zhongminghan@gtht.com | S0880124070047 | 本报告导读： 公司是电力信息系统与数智化整体解决方案领域的标杆企业。受益于"双碳"目标 下建设新型电力系统的需求，公司未来发展空间广阔。同时公司深耕 AI技术研发， 打造 AI 多模态大模型，并在电力巡检智能机器人领域探索投入，打造新增长曲线。 投资要点： | [Table_Finance] 财务摘要(百万元) | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- ...

Market Overview - The A-share market experienced a significant downturn, with the Shanghai Composite Index down 1.13%, the Shenzhen Component Index down 2.14%, and the ChiNext Index down 2.42% as of midday trading [3][5]. - The total trading volume in the Shanghai and Shenzhen markets reached 1.79 trillion yuan, an increase of 403.1 billion yuan compared to the previous trading day, with over 4,500 stocks declining [5]. Sector Performance - The computing hardware industry chain saw a broad pullback, with sectors such as CPO and high-speed copper connections leading the decline. Notably, semiconductor, humanoid robotics, commercial aerospace, and consumer electronics themes also experienced significant drops [4][12]. - Conversely, the oil, coal, and electricity sectors showed strength, with stocks in these areas performing well. The photovoltaic and artificial intelligence concept stocks were notably active [4]. Notable Stock Movements - The electric grid equipment sector saw a surge, with companies like Guodian Nanzi and Sanbian Technology hitting their daily limit up and reaching historical highs. Other companies such as Pino Technology also touched the daily limit up [6]. - In the energy sector, WTI crude oil futures surged over 30%, reaching $118.7 per barrel, marking a 75% increase for the month, the highest since June 2022 [8][19]. International Market Impact - The KOSPI index in South Korea experienced a significant drop of 7%, heavily influenced by declines in major storage companies like Samsung Electronics and SK Hynix, which both opened down over 7% [13][20]. - The Hang Seng Index opened down 2.65%, with technology stocks facing widespread declines, while oil stocks saw substantial gains [14][15].

Business Progress - The company won a procurement project from China Energy Construction Group Guangdong Thermal Power Engineering Co., Ltd. with a bid amount of 16.3864 million yuan, involving power system integration services [2] - The company introduced the "Internet of Things" concept, reflecting its business expansion in the smart grid sector [2] Product Development Progress - The company announced that its self-developed multimodal large model product has been deeply applied in the field of intelligent inspection of power grids, enhancing inspection efficiency [3] - The company launched an AI application racing plan aimed at building an AI intelligent organization to strengthen the implementation of artificial intelligence in power systems [3] Strategic Advancement - The company established a joint venture, Zeyu Intelligent (Guangzhou) Electric Power Co., Ltd., holding a 70% stake, further expanding its presence in the regional power market [4] - The company reached a strategic cooperation agreement with Yundongchu Technology on December 25, 2025, focusing on upgrading power inspection and digital transformation [4] Industry Policy Status - The company's business continues to focus on ultra-high voltage, smart grids, virtual power plants, and energy storage, aligning with the new power system construction policies [5] - The State Grid plans to increase fixed asset investment during the "14th Five-Year Plan" period, which may present opportunities for the industry [5]

（编辑 姚尧） 证券日报网讯 1月28日，泽宇智能发布公告称，中汇会计师事务所（特殊普通合伙）（以下简称"中汇 所"）作为公司2025年度财务报告及内部控制审计机构，原委派刘炼为项目合伙人、周永辉为签字注册 会计师、章祥为质量控制复核人为公司提供2025年度审计服务。因原项目合伙人刘炼工作变动，中汇所 现委派于薇薇接替刘炼作为项目合伙人为公司提供2025年度审计服务。 ...

证券代码：301179 证券简称：泽宇智能 公告编号：2026-001 江苏泽宇智能电力股份有限公司 关于变更签字注册会计师的公告 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。 江苏泽宇智能电力股份有限公司（以下简称 "公司"）于 2025 年 4 月 17 日召开第三届董事会第二次会议、第三届监事会第二次会议，并于 2025 年 5 月 8 日召开 2024 年年度股东大会，审议通过了《关于续聘中汇会计师事务所（特 殊普通合伙）为公司 2025 年审计机构的议案》，同意续聘中汇会计师事务所（特 殊普通合伙）（以下简称"中汇所"）为公司 2025 年度审计机构。具体内容详 见 公 司 于 2025 年 4 月 18 日 、 2025 年 5 月 8 日 刊 登 在 巨 潮 资 讯 网 （www.cninfo.com.cn）上的相关公告。 近日，公司收到中汇所出具的《关于变更签字会计师的告知函》，现将相关 情况公告如下： 于薇薇：2007 年成为中国注册会计师，2005 年开始从事公司和挂牌公司审 计工作，2011 年 8 月开始在中汇所执业，2025 年起为 ...

Group 1 - The company, General Elevator, forecasts a net profit loss attributable to shareholders of 40 million to 55 million yuan for 2025, compared to a loss of 48.9036 million yuan in the same period last year [1] - The primary reason for the performance change is the downturn in the downstream industry, leading to a decline in some clients' repayment capabilities, prompting the company to make individual provisions for high-risk receivables [1] - The ongoing adjustment in the real estate market has resulted in impairment testing of properties acquired through debt-for-equity swaps, leading to corresponding asset impairment provisions [1] Group 2 - The company has implemented a restricted stock incentive plan, recognizing corresponding share-based payment expenses [1]

Group 1 - The core viewpoint of the news is that Zeyu Intelligent has experienced a decline in both revenue and net profit, indicating potential challenges in its financial performance [2] - As of January 22, Zeyu Intelligent's stock price increased by 0.56%, with a trading volume of 84.73 million yuan, and a net financing buy of -6.03 million yuan [1] - The company's financing balance is 129 million yuan, which is 1.79% of its market capitalization, indicating a low level compared to the past year [1] Group 2 - For the period from January to September 2025, Zeyu Intelligent reported a revenue of 598 million yuan, a year-on-year decrease of 16.10%, and a net profit of 58.05 million yuan, down 55.89% year-on-year [2] - The company has distributed a total of 419 million yuan in dividends since its A-share listing, with 357 million yuan distributed in the last three years [3] - As of September 30, 2025, the number of shareholders for Zeyu Intelligent decreased by 4.22% to 15,300, while the average circulating shares per person increased by 5.60% to 15,549 shares [2]

Core Viewpoint - Zeyu Intelligent (301179.SZ) has developed a multi-modal large model product that is significantly applied in the smart inspection of power grids, achieving high detection rates and low false detection rates, which has garnered high recognition in the industry [1] Group 1 - The company’s technology features breakthrough indicators such as high detection rates, low false detection rates, and strong generalization capabilities [1] - The company is continuously advancing technology iterations and upgrades in the field of smart power grid inspection [1] - A strategic cooperation with Cloud Deep Technology is set to be established by the end of 2025 to create more efficient and reliable intelligent solutions for power inspection [1]

Core Viewpoint - Jiangsu Zeyu Intelligent Power Co., Ltd. has signed a strategic cooperation agreement with Hangzhou Yundongchu Technology Co., Ltd. to enhance intelligent solutions for power inspection [1] Group 1: Company Collaboration - The partnership focuses on the intelligent needs of power inspection, aiming to provide more efficient and reliable solutions [1] - The collaboration is guided by a "self-research core + ecological synergy" approach, emphasizing complementary advantages [1] Group 2: Industry Impact - The initiative is expected to drive the iterative upgrade of operational and maintenance models within the power inspection industry [1]