Core Viewpoint - The legal opinion provided by Beijing Deheng (Shenzhen) Law Firm confirms the legality and validity of the convening, holding procedures, participant qualifications, voting procedures, and results of the 2024 annual general meeting of shareholders of Southern Power Grid Electric Power Technology Co., Ltd. [1][4][16] Group 1: Meeting Details - The annual general meeting is scheduled for June 27, 2025, and the notice was published in accordance with legal requirements [1][4]. - The meeting will take place at the specified location in Guangzhou, and the actual time and method of the meeting align with the notice [4][5]. - The network voting will occur on the same day, with specific time slots for participation [5]. Group 2: Participant Qualifications - A total of 70 shareholders and their authorized agents attended the meeting, representing 441,794,016 shares, which is 78.2351% of the total voting shares [6]. - The qualifications of the attendees, including directors, supervisors, and other personnel, were verified and deemed valid [6][7]. Group 3: Voting Procedures - The meeting utilized both on-site and online voting methods, with the voting results consistent with the agenda outlined in the notice [7][8]. - The voting process was conducted in accordance with relevant laws and regulations, ensuring transparency and compliance [7][16]. Group 4: Voting Results - The voting results showed overwhelming support for the proposals, with the majority of votes in favor, indicating strong shareholder approval [8][12][16]. - Specific results included 441,664,865 shares in favor of the main proposal, representing 99.9707% of the valid votes cast [8][12]. - The results for minority investors also reflected significant support, with 99.6144% voting in favor [8][10]. Group 5: Legal Conclusion - The legal opinion concludes that all aspects of the meeting, including the convening, procedures, participant qualifications, voting processes, and results, comply with the relevant laws and regulations [16]. - The opinion is to be used as a formal document for the resolutions passed during the meeting [16].

Meeting Overview - The shareholder meeting of Southern Power Grid Electric Technology Co., Ltd. was held on June 27, 2025, in Guangzhou [1] - The meeting was presided over by Chairman Jiang Hailong, and the voting method combined on-site and online voting [1] Attendance and Voting - A total of 70 ordinary shareholders attended the meeting, holding 441,794,016 voting rights, which accounted for 78.2351% of the company's total voting rights [1] - All resolutions presented at the meeting were approved, with the majority of votes in favor [1][2][3] Voting Results - The voting results showed that for the first resolution, 441,664,865 votes (99.9707%) were in favor, with only 83,951 votes (0.0190%) against [1] - Subsequent resolutions also received overwhelming support, with similar percentages of approval, indicating strong shareholder confidence [2][3] Legal Compliance - The meeting's procedures, attendance, and voting processes were confirmed to comply with relevant laws and regulations, ensuring the legality and validity of the resolutions passed [4]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 南方电网电力科技股份有限公司（以下简称"公司"）为完善公司治理结构， 根据《中华人民共和国公司法》（以下简称《公司法》）和修订后的《南方电网电 力科技股份有限公司章程》（以下简称《公司章程》）等有关规定，于近日召开职 工代表大会，会议选举田丰先生为公司第二届董事会职工董事，任期自公司2024 年年度股东大会审议通过《关于修订<公司章程>的议案》，决定公司设置职工董 事之日起至公司第二届董事会任期届满之日止。田丰先生简历详见附件。 截至本公告披露日，田丰先生未持有公司股份。田丰先生符合《公司法》《上 海证券交易所科创板股票上市规则》等相关法律法规及《公司章程》规定的任职 资格，不存在《公司法》规定的不得担任公司董事的情形。公司第二届董事会成 员中兼任公司高级管理人员以及由职工代表担任的董事人数总计未超过公司董 事总数的二分之一。 特此公告。 南方电网电力科技股份有限公司董事会 2025 年 6 月 28 日 附件： 第二届董事会职工董事简历 证券代码：688248 证券简称：南 ...

北京德恒（深圳）律师事务所 关于南方电网电力科技股份有限公司 2024 年年度股东大会的 法律意见 深圳市福田区金田路 4018 号安联大厦 B 座 11 层 电话:0755-88286488 传真:0755-88286499 邮编:518026 ——————————————————————————— ——————————————————————————— 北京德恒（深圳）律师事务所 关于南方电网电力科技股份有限公司 2024 年年度股东大会的法律意见 北京德恒（深圳）律师事务所 关于南方电网电力科技股份有限公司 2024 年年度股东大会的 法律意见 德恒 06G20240359-02 号 致：南方电网电力科技股份有限公司 南方电网电力科技股份有限公司（以下简称"公司"）2024 年年度股东大 会（以下简称"本次会议"）于 2025 年 6 月 27 日（星期五）召开。北京德恒（深 圳）律师事务所（以下简称"德恒"或"本所"）受公司委托，指派张智鹏律师、 谢小丽律师（以下简称"本所律师"）出席了本次会议。根据《中华人民共和国 证券法》（以下简称"《证券法》"）、《中华人民共和国公司法》（以下简称 "《公司法》 ...

证券代码：688248 证券简称：南网科技 公告编号：2025-021 南方电网电力科技股份有限公司 2024年年度股东大会决议公告 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 6 月 27 日 （二） 股东大会召开的地点：广州市越秀区东风东路水均岗粤电大厦 920 会议 室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 70 | | --- | --- | | 普通股股东人数 | 70 | | 2、出席会议的股东所持有的表决权数量 | 441,794,016 | | 普通股股东所持有表决权数量 | 441,794,016 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 78.2351 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 78.2351 | （四） 表决方式是否符合《公司法》及公司章程的规定，大会主持情况等。 本次股东大会由公司董事会召集，董事长姜海龙先生主持，会议采用现场投 票和网络投票相结 ...

Investment Rating - The report rates the computer industry as "Recommended," expecting the industry index to rise more than 5% over the next 3-6 months compared to the benchmark index [44]. Core Insights - MiniMax has launched several AI products, including the open-source MiniMax-M1 model, which demonstrates performance comparable to international leaders like Google's Gemini 2.5 Pro [11][31]. - The MiniMax-M1 model has shown exceptional capabilities in long-context understanding and code generation, achieving significant breakthroughs in performance and efficiency [12][31]. - The new AI video generation model, Hailuo 02, ranks second globally in recent evaluations, offering competitive pricing and high-definition output [21][31]. - MiniMax Agent integrates multiple modalities, enhancing the cost-effectiveness of AI agents and supporting complex task execution across various scenarios [26][31]. - The Voice Design module allows for personalized voice synthesis, significantly improving the quality and naturalness of generated speech [30][31]. - The report suggests focusing on AI enterprise services and application scenarios, highlighting various domestic and international companies across sectors such as finance, education, and healthcare [32][33]. Summary by Sections MiniMax: Reasoning Models, Agents, and Multimodal - MiniMax has released multiple AI products, including the MiniMax-M1 reasoning model and Hailuo 02 video generation model, showcasing advancements in AI technology [11][12][18]. - The MiniMax-M1 model utilizes a hybrid architecture, achieving notable performance improvements and efficiency in processing [12][31]. - Hailuo 02 has been recognized for its competitive pricing and high-quality video generation capabilities [21][31]. - MiniMax Agent offers a comprehensive AI solution with capabilities in search, image recognition, and task execution [26][31]. - The Voice Design feature enhances voice synthesis, allowing for customizable audio outputs [30][31]. Investment Recommendations - The report emphasizes the potential for growth in AI enterprise services, recommending attention to various companies in the domestic and international markets [32][33].

Core Viewpoint - The B-end big data industry, particularly in the commercial inquiry sector, is becoming a significant force in the business landscape, driven by strong policy support and the need for digital transformation among enterprises [1][2][3] Group 1: Policy Support and Market Development - The national support for the digital economy and the regulation of the data factor market have created a favorable environment for the development of the B-end commercial inquiry industry [1] - Since 2021, various regions such as Beijing, Shanghai, Shenzhen, and Guizhou have established new types of data exchanges, leading to a rapid increase in transaction volumes and the number of data products listed [1] - The data factor market is entering a new stage of development characterized by a shift from quantity to quality, with local governments promoting the integration and utilization of public and social data [1] Group 2: Market Demand and Technological Integration - Enterprises are facing the need for digital transformation, with B-end commercial inquiry services providing essential information support that integrates deeply with various digital systems and business processes [2] - In the financial sector, big data commercial inquiry tools enable banks to efficiently screen quality clients and reduce non-performing loan rates [2] - The commercial big data B-end business relies on advanced technologies such as large-scale dynamic knowledge graph construction and inference, which present significant technical barriers [2] Group 3: Industry Evolution and Future Outlook - The commercial inquiry industry is transitioning from being an "information intermediary" to an "intelligent decision-making platform," driven by technology, regulatory compliance, and global ecological strategies [3] - Continuous technological advancements and market expansion are expected to lead the B-end big data industry to a more prosperous future, supporting stable enterprise development and economic growth [3]

Core Insights - A total of 26 financing events were disclosed on June 23, 2025, involving 25 domestic companies and 1 foreign company, with a total financing amount of approximately 5.145 billion RMB [2] - The top sector by number of events was enterprise services, while the automotive mobility sector led in financing amount [2] Manufacturing Sector Summary - Three financing events were reported in the manufacturing sector, involving three domestic companies, with a total financing amount of approximately 165 million RMB [2] - Zhihui Xinlian received strategic investment from Jiehuate, a semiconductor design service provider based in Fujian, China [2] - Weisheng Composite Materials completed an A+ round of financing, specializing in carbon fiber composite materials, headquartered in Beijing, China [2] - Jian Zhen Machinery completed a multi-hundred million RMB A round of financing, with investors including Guotai Junan and Yuanhe Huawang, ranking in the top 50 A round financings of the year [2]

Group 1 - The core index, the China Securities Social Development Security Industry Theme Index, rose by 1.21% to 1596.77 points, with a trading volume of 34.7 billion yuan [1] - Over the past month, the index has decreased by 1.85%, down 11.26% over the last three months, and down 3.54% year-to-date [1] - The index includes no more than 100 securities from companies benefiting from social development security, covering sectors such as information security, environmental security, security equipment, and safety testing [1] Group 2 - The top ten holdings of the index are: Huace Testing (9.48%), Hikvision (8.05%), Zhongke Shuguang (3.6%), Wanfu Biology (2.93%), Meiya Optoelectronics (2.91%), Greeenmei (2.87%), Nanwang Technology (2.6%), Dahua Technology (2.43%), Aerospace Zhizhuang (2.35%), and Siwei Liekong (2.34%) [1] - The market share of the index's holdings is 67.16% from the Shenzhen Stock Exchange and 32.84% from the Shanghai Stock Exchange [1] Group 3 - The industry composition of the index's sample includes: 42.47% in industrials, 41.80% in information technology, 5.47% in utilities, 4.93% in communication services, 4.89% in healthcare, and 0.45% in finance [2] - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day after the second Friday of June and December [2] Group 4 - Public funds tracking the index include Donghai China Securities Social Development Security [3]

Key Policies - Sichuan Province has released management measures for distributed photovoltaic power generation, requiring that large commercial distributed photovoltaic projects primarily self-consume electricity, with a minimum self-consumption ratio of 50% for certain regions [4][5] - Tianjin plans to adjust its time-of-use electricity pricing, expanding the floating range of peak and valley prices, with peak prices potentially increasing by 60% and valley prices decreasing by 60% [6] Key Events - Guizhou Electric Power Company has established a near-zero carbon demonstration zone with a capacity of 940 kW, aiming to reduce CO2 emissions by 267 tons annually [8][10] - The establishment of the New Power System Standardization Technical Committee in Yunnan Province marks a significant step in standardization efforts within the energy sector [22][23] - The "Ningxia New Power System Construction Strategic Research" project has been approved, focusing on reliable power supply and high-level renewable energy consumption [25][26] - A meeting between the National Energy Group and the State Grid Corporation discussed accelerating the construction of new power systems and ensuring national energy security [27][28] - The largest provincial autonomous controllable power grid operation control system in the country has been put into operation in Guangdong, achieving 100% localization of core components [30][31] Key Technologies - Beijing Digital Green Land Technology Co., Ltd. has published a patent for real-time monitoring of power line deployment using ground-based laser radar technology [43][44] - Datang Digital Technology has applied for a patent to enhance the accuracy of knowledge retrieval models in the energy sector [45] - Huawei Digital Energy has obtained a patent for an uninterruptible power supply that ensures continuous power during switching between main and bypass routes [46] - China Power Construction Corporation's Hebei Institute has developed a photovoltaic inspection drone that protects itself in case of a fall [47] Key Companies - Southern Power Grid Technology has established a comprehensive capability chain in intelligent robots and drones, focusing on research, manufacturing, and application [49] - Haibo Technology has launched an electric power electronics technology platform to support the new power system [50][51] - China Resources Power has initiated research on multi-energy complementary smart operations, collaborating with Tsinghua University and the State Grid [52][53]