Core Viewpoint - The equity change is a result of Shanghai Pylon Energy Technology Co., Ltd. implementing its 2023 annual differentiated equity distribution and the controlling shareholder, ZTE New Communications Co., Ltd., fulfilling its previously disclosed shareholding increase plan, which does not trigger a mandatory takeover bid [1][5] Summary of Equity Change - ZTE New's shareholding increased from 43,218,677 shares to 61,339,813 shares, raising its ownership percentage from 24.61% to 25.00% after the equity change [2][4] - The company distributed a cash dividend of 10.40 yuan per 10 shares (tax included) and increased shares by 4 shares for every 10 shares held, resulting in a total share capital of 245,359,249 shares after excluding 1,294,043 shares held in the repurchase account [2][4] - ZTE New acquired an additional 833,665 shares between April 22 and June 16, 2025, representing 0.34% of the total share capital [2][4] Information on ZTE New Communications Co., Ltd. - ZTE New is a limited liability company engaged in machine vision system integration, optical instruments, industrial cameras, high-end machinery design and production, and technology services [3][4] - The company is located in Shenzhen, with a registered capital of 100 million yuan and was established on April 29, 1993 [3]

| （含税），以资本公积金向全体股东每 | 10 4 股转增 | | | --- | --- | --- | | 股。以 | 扣除上市 公司回购 专用证券 账户中股 份数 | | | 算，合计转增股本 | 69,732,916 股。此次为差异化权 | | | 益分派 | ，权益分 派实施后 上市公司 总股本变 更为 | | | 本的比例由 | 24.61%增加至 24.66%。 | | | 本次权益变动 指 | | | | 资金人民币 | 2,675.97 万元，通过上海证券交易所交 | | | 易系统以集中竞价交易方式增持公司股份 | 750,000 | | | 股，占公司总股本的 | 0.31%。上市公司控股股东中 | | | 兴新拟自 2025 | 年 4 月 22 日起 12 个月内，通过上海 | | | 证券交易所交易系统以集中竞价、大宗交易等方式 | | | | 继续增持公司股份，增持总金额（含 | 2025 年 4 月 22 | | | 日已增持金额）不低于人民币 | 5,000 万元（含）且不 | | | 高 于 人 民 | 币 10,000 万 元 （ 含 ） 。 2025 年 6 | 月 ...

Core Viewpoint - The financial advisor, Guotai Junan Securities Co., Ltd., has conducted a thorough review of the detailed equity change report for Shanghai PAI Neng Energy Technology Co., Ltd., confirming the authenticity and completeness of the disclosed information [1][6][24]. Summary by Sections Financial Advisor's Responsibilities - The financial advisor has fulfilled its due diligence obligations and believes there are no substantial discrepancies between its professional opinions and the information disclosed by the obligated party [2][6]. - The advisor emphasizes that its review does not constitute investment advice and that it bears no responsibility for any investment decisions made by investors based on its opinions [2][6]. Equity Change Details - The equity change involves a cash dividend distribution of 10.40 yuan per 10 shares and a capital reserve increase, resulting in a total share capital change to 245,359,249 shares [5][14]. - The controlling shareholder, Zhongxing New, increased its shareholding from 43,218,677 shares (24.61%) to 60,506,148 shares (24.66%) following the equity change [5][15]. Financial Performance of the Obligated Party - The obligated party, Zhongxing New, has shown a steady financial performance over the last three years, with total assets increasing from 19,432.46 million yuan to 22,496.42 million yuan [10]. - The net profit for the last three years was reported as 881.51 million yuan, 964.69 million yuan, and 790.44 million yuan, respectively [10]. Compliance and Governance - Zhongxing New has not faced any administrative or criminal penalties in the last five years, indicating a strong compliance record [11]. - The management team of Zhongxing New has not been involved in any significant legal disputes or penalties related to the securities market [11]. Future Plans and Independence - The obligated party does not plan to change the main business operations of Shanghai PAI Neng in the next 12 months and aims to maintain the company's independence [17][19]. - There are no plans for significant adjustments to the management team or the company's articles of association [18][19]. Related Transactions and Conflicts of Interest - The equity change will not introduce new competition, and Zhongxing New has committed to avoiding any conflicts of interest with Shanghai PAI Neng [19][20]. - Existing related transactions, such as property leasing and material sales, will continue to be conducted at market prices to ensure fairness [20]. Conclusion - The financial advisor concludes that the equity change complies with relevant laws and regulations, and the detailed equity change report is accurate and complete [24].

上海派能能源科技股份有限公司 详式权益变动报告书 上海派能能源科技股份有限公司 详式权益变动报告书 权益变动性质：持股比例被动增加（差异化权益分派）、股份增加 （集中竞价） 签署日期：二〇二五年六月 上市公司：上海派能能源科技股份有限公司 股票简称：派能科技 股票代码：688063 股票上市地点：上海证券交易所 信息披露义务人：中兴新通讯有限公司 住所：深圳市罗湖区****** 通讯地址：深圳市罗湖区****** 上海派能能源科技股份有限公司 详式权益变动报告书 信息披露义务人声明 一、本报告书依据《中华人民共和国证券法》《上市公司收购管理办法》 《公开发行证券的公司信息披露内容与格式准则第 15 号—权益变动报告书》 《公开发行证券的公司信息披露内容与格式准则第 16 号—上市公司收购报告书》 《证券期货法律适用意见第 19 号—＜上市公司收购管理办法＞第十三条、第十 四条的适用意见》及其它相关法律、法规和规范性文件的要求编制。 二、依据《中华人民共和国证券法》《上市公司收购管理办法》《证券期 货法律适用意见第 19 号—＜上市公司收购管理办法＞第十三条、第十四条的适 用意见》的规定，本报告书已全面披露信息 ...

本次权益变动前后，中兴新均为公司控股股东，本次权益变动不会使公司 控股股东发生变化。 证券代码：688063 证券简称：派能科技 公告编号：2025-048 上海派能能源科技股份有限公司 关于控股股东权益变动触及5%整数倍的提示性公告 本公司董事会、全体董事及相关股东保证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。 重要内容提示： 本次权益变动为上海派能能源科技股份有限公司（以下简称"派能科技" 或"公司"）实施2023年年度差异化权益分派和控股股东中兴新通讯有限公司 （以下简称"中兴新"或"信息披露义务人"）履行此前披露的增持计划增持股 份所致，不触及要约收购。 本 次 权 益 变 动 后 ， 中 兴 新 持 有 公 司 股 份 数 量 由 43,218,677 股 增 加 至 61,339,813股，占公司总股本比例由24.61%增加至25.00%，触及5%的整数倍。 公司于 2025 年 6 月 16 日收到中兴新出具的《告知函》和《详式权益变动报 告书》，2024 年 6 月 21 日，公司实施 2023 年年度权益分派，以资本公积金向全 ...

国泰海通证券股份有限公司 关于上海派能能源科技股份有限公司 详式权益变动报告书 之 财务顾问核查意见 财务顾问 （中国（上海）自由贸易试验区商城路618号） 二〇二五年六月 重要声明 根据《中华人民共和国证券法》《上市公司收购管理办法》《公开发行证 券的公司信息披露内容与格式准则第15号—权益变动报告书》《公开发行证券 的公司信息披露内容与格式准则第16号—上市公司收购报告书》等相关法律、 法规的规定，国泰海通证券股份有限公司（以下简称"本财务顾问"）按照行 业公认的业务标准、道德规范，本着诚实信用、勤勉尽责的精神，对本次权益 变动的相关情况和资料进行了核查，对《上海派能能源科技股份有限公司详式 权益变动报告书》所披露的内容出具核查意见。本财务顾问特作出如下声明： 一、本财务顾问依据的有关资料由信息披露义务人提供。信息披露义务人 已向本财务顾问作出承诺，保证其所提供的资料均为真实、准确、完整的原始 书面资料或副本资料，副本资料或复印件与其原始资料或原件行动人，所有文 件的签名、印章均是真实的，并对所提供信息的真实性、准确性和完整性承担 个别和连带的法律责任。 二、本财务顾问已按照规定履行尽职调查义务，有充分理 ...

Investment Rating - The industry investment rating is "Recommended," indicating an expected increase in the industry index by more than 5% over the next 3-6 months compared to the benchmark index [64]. Core Insights - The SNEC exhibition showcased over 3,000 solar energy companies, focusing on cost reduction and efficiency improvements amid a period of supply-demand imbalance and price fluctuations in the photovoltaic industry [12][1]. - Companies are emphasizing technological innovation to enhance conversion efficiency and component power, with a notable reduction in large-scale advertising compared to previous exhibitions [12][1]. - The demand for storage solutions is increasing, with companies integrating photovoltaic and storage technologies to offer advanced system solutions [13][2]. - The overall production of components is expected to decrease by approximately 10% month-on-month, with specific price adjustments observed across various materials in the supply chain [14][2]. Summary by Sections Section 1: SNEC Focus on Cost Reduction and Efficiency - The SNEC PV+ exhibition took place from June 11-13, 2025, in Shanghai, covering an area of 380,000 square meters with over 3,000 participating companies, including more than 900 foreign enterprises [12][1]. - Companies are focusing on technological advancements, particularly in battery components, to drive cost reduction and efficiency improvements [12][1]. - Key companies to watch include Aiko Solar and Longi Green Energy, which are leading in BC technology mass production expected to ramp up in the second half of the year [12][1]. Section 2: Market Demand and Price Adjustments - The overall component production is estimated at approximately 53 GW for June, reflecting a month-on-month decrease of about 10% [14][2]. - Silicon material prices have been adjusted downward due to decreased demand, with N-type silicon material prices ranging from 35,000 to 38,000 RMB per ton, averaging 36,700 RMB per ton, a decrease of 2.13% [14][2]. - Prices for silicon wafers and battery cells have also shown slight declines, with specific price variations noted for different sizes of battery cells [14][2]. Section 3: Industry Performance Review - The overall industry index increased by 0.63% this week, while the electric power equipment industry index decreased by 0.46% [15][2]. - The photovoltaic equipment sector saw a decline of 0.75%, with notable fluctuations in individual stock performances within the sector [19][2]. - The current PE (Price to Earnings) ratio for the electric power equipment industry stands at 24x, with the photovoltaic equipment sector at 17x, indicating varying levels of valuation across sub-sectors [25][29].

《华夏时报》：海外经销商正在采购新货，库存似乎消化完毕。现在的海外市场情况如何？ 华夏时报记者胡雅文 李未来 上海报道 2025年6月11日，2025 SNEC国际光伏与储能展览会在上海拉开序幕。作为行业关注度最高的盛会，数 千家厂商和业界人士再度汇聚于此，成为观察行业动向的前沿窗口。近几年，我国新能源发展进入深水 区，技术、规模和收益之争仍然十分激烈。在此次展会期间，不少储能企业带来了适用于细分领域的储 能新品，期望开拓更广阔的市场空间。 期间，派能科技国内营销事业部副总经理彭宽宽接受了《华夏时报》专访，深入探讨国内和海外市场动 态、产品与技术进展、行业长期发展等话题，他表示，"派能科技坚守安全和质量底线，坚持长期主 义，通过技术创新降本，通过运营服务增收。" 《华夏时报》：目前派能在国内市场有什么新的动态吗？ 彭宽宽：派能科技有完整且成熟的产品矩阵，单个产品从30度电到5MWh, 能覆盖到各类不同的储能应 用场景。近两年我们工商业储能落地项目有很多，产品应用在工业园区、高耗能制造工厂、光储充、台 区、离网海岛等场景，在通讯储能场景也有诸多应用。今年我们在源网侧大型储能设备的销售上也已有 新的突破。在这些场 ...

Core Viewpoint - Hefei has established itself as a leading venture capital city through government-led industrial investments, evolving from a focus on infrastructure to becoming an ecosystem builder for industries, particularly in the context of the Fengxi County's development [1][3][17]. Group 1: Transformation of State-owned Capital Platforms - Hefei's state-owned capital platforms have transitioned from "urban infrastructure service providers" to "industrial ecosystem builders," showcasing a successful model of government-led investment [1][3]. - The Fengxi Industrial City Group has transformed into a comprehensive operator for industrial development, integrating capital into the county's key industries, including new energy and smart vehicles [3][6]. - The group has successfully launched local enterprises like Kobalt on the Beijing Stock Exchange, demonstrating the vitality of Hefei's venture capital gene in county-level economies [1][3]. Group 2: Financial Innovations and Achievements - The Fengxi Industrial City Group recently achieved a "Double AAA" credit rating, facilitating a shift from land-based finance to equity-based finance for local governments [4][6]. - The group issued a non-public bond of 1 billion yuan with a record-low interest rate of 2.1%, marking a significant achievement in the capital market [4][6]. - As of June 2025, the group has established 33 cooperative funds with a total scale of nearly 400 billion yuan, leveraging state-owned capital to attract over five times the amount in social capital [6][12]. Group 3: Investment Strategies and Ecosystem Development - The Fengxi Industrial City Group employs a "1+3+X" fund matrix strategy to effectively allocate limited capital towards industries aligned with local strengths [6][7]. - The group focuses on a comprehensive service model that includes project selection, equity/fund investment, and operational support, creating a full-cycle service capability [7][8]. - The investment logic emphasizes a "point-to-surface" approach, fostering a chain reaction in the local economy through strategic investments in key projects [8][10]. Group 4: Talent and Infrastructure Development - The group integrates talent services with industrial development, establishing partnerships with local universities to attract high-level talent and promote research outcomes [15][16]. - It has created a talent housing initiative, providing over 1,226 rental apartments to support talent retention and local employment [15][16]. - The group has developed 38 industrial parks covering approximately 2.3 million square meters, enhancing the local infrastructure to support industrial growth [14][16]. Group 5: Future Outlook and Strategic Insights - The Fengxi Industrial City Group ranks 44th in total revenue and 38th in total assets among county-level state-owned platforms, highlighting its strong potential for growth [16]. - Key strategic insights include maintaining a focus on local industrial strengths, innovating mechanisms for market-oriented assessments, and embedding projects within the industrial chain to maximize collaborative value [16][17]. - The group's approach serves as a replicable model for county-level economic transformation, emphasizing the importance of a collaborative ecosystem involving government, industry, and community [17].

证券代码：688063 证券简称：派能科技 公告编号：2025-047 2025 年 3 月 15 日，公司披露了《持股 5%以上股东减持股份计划公告》（公 告编号：2025-008），融科创投因自身资金周转需求，拟通过集中竞价方式及大 宗交易方式减持公司股份数量合计不超过 7,360,776 股,减持比例不超过公司总 股本的 3%。其中，以集中竞价方式减持股份数量不超过 2,453,592 股，减持比 例不超过公司总股本的 1%；以大宗交易方式减持股份数量不超过 4,907,184 股， 减持比例不超过公司总股本的 2%。 截至 2025 年 6 月 6 日，融科创投通过集中竞价及大宗交易方式已累计减持 公司股份 7,359,088 股，占公司总股本的 2.9993%，本次减持计划已实施完毕。 公司于近日收到股东融科创投出具的《减持股份结果告知函》，现将相关减 持结果公告如下： 上海派能能源科技股份有限公司 持股 5%以上股东减持股份结果公告 本公司董事会、全体董事及相关股东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。 重要内容提示： 大 ...