重庆望变电气（集团）股份有限公司2025年半年度报告摘要

Core Viewpoint - The company plans to invest in a megawatt-level intelligent supercharging network project, with an estimated total investment of no more than 541.5 million yuan, to expand its business in the new energy charging infrastructure sector [3][5][11]. Company Overview - The company is named Chongqing Wangbian Electric (Group) Co., Ltd. and is involved in the construction of electric heavy truck supercharging stations in regions such as Yunnan and Chongqing [5][9]. - The project aims to build nearly 100 supercharging stations to meet local market demand and create new profit growth points through collaboration with leading logistics companies [10][15]. Financial Data - The estimated total investment for the project is 541.5 million yuan, with funding sourced from the company's own funds and project loans [3][11]. - The company reported a revenue increase from 2.526 billion yuan in 2022 to 3.352 billion yuan in 2025, with a compound annual growth rate of 15.20% [16]. Project Implementation - The construction period for each supercharging station is expected to be completed within 3-6 months after obtaining land use rights, with multiple stations being built simultaneously [12]. - The project will require various approvals, including investment establishment, land, and electricity expansion [17]. Market Context - The project aligns with national policies promoting green energy and the rapid development of supercharging technology, creating a favorable external environment for the project [13][14]. - The demand for charging stations is expected to grow as electric heavy trucks expand their application scenarios from regional to cross-regional logistics [15]. Risk Analysis - The company acknowledges potential risks, including changes in industry regulations, project operation risks, market competition, and funding risks [4][19][20]. - The company plans to monitor policy changes closely and adjust its business development strategies accordingly [20].