双杰电气乘政策东风，电力装备业务迎黄金发展期

Industry Overview - The global energy structure is rapidly transitioning towards green and low-carbon solutions, presenting unprecedented development opportunities for the power equipment industry in China [1] - The "Power Equipment Industry Steady Growth Work Plan (2025-2026)" outlines a clear path for high-quality development during this critical energy transition period [1] - The policy sets an average annual revenue growth target of around 6% for traditional power equipment and approximately 10% for leading enterprises in the new energy sector [1] Company Performance - The company, Shuangjie Electric, has established a solid competitive advantage in smart electrical equipment and new energy sectors, including wind power, photovoltaics, energy storage, and charging stations [1] - In the first half of 2025, Shuangjie Electric won a bid worth over 270 million yuan in the Southern Power Grid's first batch of framework bidding projects, ranking among the top in the industry [2] - The company has been a leader in the power equipment industry for over 20 years, participating in the formulation of national and industry standards and undertaking various national key projects [2] Product Innovation - Shuangjie Electric continuously enhances its product system and innovation capabilities, achieving breakthroughs in environmental protection, miniaturization, intelligence, and maintenance-free technologies [3] - The company is accelerating its layout in the power IoT sector, increasing R&D investment in new sensing terminals across power generation, grid, and user sides [3] New Energy Sector - In the new energy sector, Shuangjie Electric secured a photovoltaic project with a bid amount of 1.64 billion yuan in the first half of 2025 [4] - The company is actively implementing a "dual carbon" strategy, optimizing energy structure and improving energy efficiency through integrated projects [4] - Shuangjie Electric is expanding its overseas market presence, with a 44% year-on-year growth in international markets in 2024, and plans to invest in a photovoltaic project in Kyrgyzstan to enhance its international business [4] Future Outlook - With the gradual implementation of the "Power Equipment Industry Steady Growth Work Plan," Shuangjie Electric is expected to benefit from industry growth dividends and achieve steady performance improvement [5]