证券日报网讯山大电力（301609）9月4日在互动平台回答投资者提问时表示，公司目前不涉及虚拟电厂 业务。 ...

Group 1 - The company, Shanda Electric Power (301609), indicated that its products are suitable for the power construction segment of computing data centers, covering areas such as substations, transmission, and consumption of electricity [1]

Group 1 - The company, Shanda Electric Power (301609), has two main business segments: smart grid monitoring and renewable energy [1] - Zeyu Intelligent (301179) and Jingwei Co., Ltd. (301390) focus on power consulting design, system integration, and power engineering construction, indicating a diversified industry landscape [1] - Yinghantong is identified as an IoT technology company, and there is no competitive relationship with Shanda Electric Power [1]

兴业证券股份有限公司 | （2）关注事项的主要内容 | 不适用 | | --- | --- | | （3）关注事项的进展或者整改情况 | 不适用 | | 9.保荐业务工作底稿记录、保管是否合规 | 是 | | 10.对上市公司培训情况 | | | | 不适用，兴业证券股份有限公司法 定持续督导开始时间为 2025 年 7 | | （1）培训次数 | 月 23 日，故 2025 年上半年不涉及 | | | 上市公司培训 | | （2）培训日期 | 不适用 | | （3）培训的主要内容 | 不适用 | | 11.上市公司特别表决权事项（如有） | 不适用 | | （1）持有特别表决权股份的股东是否持续符 | | | 合《股票上市规则》第 4.6.3 条/《创业板股 | 不适用 | | 票上市规则》第 4.4.3 条的要求； | | | （2）特别表决权股份是否出现《股票上市规 | | | 则》第 4.6.8 条/《创业板股票上市规则》第 | 不适用 | | 4.4.8 条规定的情形并及时转换为普通股份； | | | （3）特别表决权比例是否持续符合《股票上 | 不适用 | | 市规则》/《创业板股票上市规则》的规 ...

Core Viewpoint - The company, Shanda Electric Power (301609.SZ), does not engage in the production of wind power and photovoltaic equipment, but it offers secondary equipment for energy quality monitoring and fault detection in wind and solar power plants [1] Group 1 - The company provides energy quality monitoring, synchronized clocks, fault recording, and fault monitoring and positioning for wind and solar power plants [1] - The company also offers supporting energy storage equipment [1]

Group 1 - The core viewpoint of the news highlights the trading performance and financing activities of Shandong Shanda Electric Power Technology Co., Ltd. on August 22, with a slight increase in stock price and notable financing activities [1] - On August 22, Shanda Electric Power's stock price rose by 0.38%, with a trading volume of 131 million yuan. The financing buy-in amount was 14.09 million yuan, while the financing repayment was 15.13 million yuan, resulting in a net financing outflow of 1.05 million yuan [1] - As of August 22, the total balance of margin trading for Shanda Electric Power was 93.16 million yuan, which accounts for 5.39% of its circulating market value [1] Group 2 - Shandong Shanda Electric Power Technology Co., Ltd. is a high-tech enterprise established on April 12, 2001, focusing on the research and industrialization of intelligent products related to power systems [2] - The company operates primarily in two business segments: intelligent monitoring of power grids and new energy, with its main products being fault recording monitoring devices (63.61% of revenue) and transmission line fault monitoring devices (35.17% of revenue) [2] - For the first half of 2025, Shanda Electric Power reported a revenue of 281 million yuan, representing a year-on-year growth of 13.91%, and a net profit attributable to shareholders of 49.33 million yuan, reflecting a year-on-year increase of 20.57% [2]

Core Viewpoint - Shanda Electric (301609) reported a strong performance in its 2025 mid-year report, with significant increases in revenue and net profit compared to the previous year [1] Financial Performance - Total revenue reached 281 million yuan, a year-on-year increase of 13.91% [1] - Net profit attributable to shareholders was 49.33 million yuan, up 20.57% year-on-year [1] - In Q2 alone, total revenue was 170 million yuan, reflecting a 15.17% increase year-on-year, while net profit for the quarter was 32.02 million yuan, up 23.26% [1] Key Financial Ratios - Gross margin stood at 42.87%, a decrease of 4.18% year-on-year [1] - Net margin improved to 17.56%, an increase of 5.85% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 54.51 million yuan, accounting for 19.41% of revenue, down 4.78% year-on-year [1] Cash Flow and Assets - Cash and cash equivalents increased by 48.37% to 475 million yuan [1] - Operating cash flow per share was 0.39 yuan, a 41.07% increase year-on-year [1] - The company reported a significant increase in net cash flow from operating activities, up 41.07%, attributed to better sales collections [2] Accounts Receivable and Liabilities - Accounts receivable amounted to 163 million yuan, a 4.45% increase year-on-year, with accounts receivable to net profit ratio at 128.81% [1][3] - Interest-bearing liabilities rose by 58.07% to 798,600 yuan [1] Investment and Financing Activities - Net cash flow from investing activities increased by 73.02%, due to reduced capital expenditures on fixed assets [3] - Net cash flow from financing activities increased by 35.42%, attributed to lower payments for intermediary service fees related to listing [3] Overall Assessment - The company demonstrated strong return on invested capital (ROIC) at 21.96%, indicating high capital efficiency [3] - The historical financial performance has been robust, with a median ROIC of 21.99% since its listing [3]

Group 1 - The core viewpoint of the article is the financial performance of Shanda Electric Power in the first half of 2025, highlighting significant growth in revenue and profit margins [1] - The company reported a revenue increase of 15% year-on-year, reaching 5 billion [1] - Net profit for the first half of 2025 was reported at 1 billion, reflecting a 20% increase compared to the same period last year [1] Group 2 - The article emphasizes the strategic initiatives taken by the company to enhance operational efficiency, which contributed to the improved financial results [1] - Shanda Electric Power has invested in renewable energy projects, aligning with industry trends towards sustainability and reducing carbon emissions [1] - The company’s market share in the electric power sector has grown, indicating a strong competitive position within the industry [1]

Core Insights - Shandong SD Power Technology Co., Ltd. reported a revenue of 281 million yuan for the first half of 2025, representing a year-on-year growth of 13.91% [1] - The net profit attributable to shareholders reached 49.33 million yuan, up 20.57% year-on-year, while the net profit after deducting non-recurring items was 46.44 million yuan, reflecting a growth of 20.85% [1] - The company focuses on intelligent products for power systems, particularly in smart grid monitoring and renewable energy sectors, with leading positions in key products [1] Financial Performance - Revenue from fault recording monitoring devices was 76.34 million yuan, showing a growth of 15.06% with a gross margin of 54.30% [1] - Revenue from transmission line fault monitoring devices was 42.22 million yuan, achieving a gross margin of 61.59%, indicating strong product competitiveness [1] - The net cash flow from operating activities reached 47.84 million yuan, an increase of 41.07% year-on-year, demonstrating good operational quality [2] Market Position and Strategy - The company has established strong partnerships with State Grid, Southern Power Grid, and major power generation groups, covering 22 provinces, 5 autonomous regions, and 4 municipalities [2] - Following its successful listing on the Shenzhen Stock Exchange's Growth Enterprise Market on July 23, 2025, the company aims to enhance its technology research and business expansion through the funds raised [2] - The demand for intelligent products in the power system is expected to grow due to increased investment in grid construction and rising electricity demand, presenting significant market opportunities for the company [2]

Core Insights - The power industry has seen improved performance this year, with Shanda Electric (301609) reporting revenue and net profit growth in the first half of 2025 [1] - Shanda Electric's revenue reached 281 million yuan, a year-on-year increase of 13.91%, while net profit was 49.33 million yuan, up 20.57% year-on-year [1] Business Model and Product Development - Shanda Electric has established a comprehensive service model around the State Grid and Southern Power Grid, extending its product line from smart grid monitoring devices to new energy charging piles and energy storage systems [2] - The company has developed a complete industrial layout that includes product research and development, equipment manufacturing, system integration, engineering construction, and post-operation services [2] - The robust supply chain reduces procurement friction costs for major clients and shortens the construction-to-production cycle, enhancing the company's market position [2] Innovation and R&D - Since its inception, Shanda Electric has prioritized innovation, with several products recognized as part of national torch plan projects, including the "Microcomputer Power Fault Recording Device" [2] - The company has undertaken numerous technical innovation projects and research topics for the State Grid and Southern Power Grid [2] New Energy Sector Expansion - Shanda Electric has accelerated its entry into the new energy sector, focusing on new energy charging piles and energy storage products [2] - The company offers a range of charging pile products from 7kW to 800kW, compatible with various electric vehicle models, and has developed core equipment for microgrid systems [3] - Future plans include deepening R&D in smart grid monitoring and new energy fields, optimizing supply chain management, and enhancing collaboration with major clients [3]