证券代码：002028.SZ 证券简称：思源电气 思源电气股份有限公司投资者关系活动记录表 编号：2025-004 | 投资者关系活 | □特定对象调研 ☐分析师会议 □媒体采访 | | --- | --- | | 动类别 | ■业绩说明会 □新闻发布会 ☐路演活动 | | | □现场参观 □其他（请文字说明其他活动内容） | | 参与单位名称 | 通过证券时报网上路演中心（http://rs.stcn.com）参与公司 2024 年度网上 | | 及人员姓名 | 业绩说明会的投资者 | | 时间 | 2025 年 4 月 30 日 15:00-17:00 | | 地点 | 证券时报网上路演中心（http://rs.stcn.com） | | 上市公司接待 | 董事长兼总经理董增平、副董事长陈邦栋、独立董事邱宇峰、独立董事叶锋、 | | 人员姓名 | 独立董事赵世君、董事秦正余、董事兼副总经理杨帜华、董事会秘书兼财务 | | | 总监杨哲嵘 | | | Q1：公司 2024 年度的经营业绩如何？？ | | | A1：您好，公司 2024 年度实现营业收入 15,458,068,522.40 元，同比增长 | ...

Group 1 - The overall score for Honglida (688330) is 38.06, indicating a weak performance [1] - The main cost analysis shows the following prices: 24.36 CNY for the day's main cost, 25.48 CNY for the 5-day main cost, 25.97 CNY for the 20-day main cost, and 27.46 CNY for the 60-day main cost [1] - There have been no instances of the stock hitting the upper limit or lower limit in the past year [1] Group 2 - The short-term resistance level is at 26.08 CNY, while the short-term support level is at 25.50 CNY [2] - If the stock price breaks below the short-term support level, it is advisable to adopt a wait-and-see approach; if it breaks below the mid-term support level of 24.80 CNY, the willingness of main funds to buy is weak [2] - A gap in the K-line indicates potential market direction; an upward gap with high trading volume suggests active participation, while a downward gap indicates a possible market reversal [2] Group 3 - On April 30, 2025, the net outflow of main funds was 784.39 thousand CNY, accounting for 10% of the total transaction volume [2] - The net outflow from large orders was 415.05 thousand CNY, while the net outflow from super large orders was 369.34 thousand CNY, and retail investors saw a net outflow of 123.17 thousand CNY [2] - Related industry sectors include power grid equipment at 0.47% and smart grid at 0.99% [2]

股票代码：002270 股票简称：华明装备 华明电力装备股份有限公司 投资者关系活动记录表 | | ■特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活 | □媒体采访 □业绩说明会 | | 动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | ■其他 电话会议 | | | Allianz Global Investors：Kevin You、Christina | | | Chung；Amiral Gestion：Gabriel Kuah；Fidelity：Bunny | | | Huang；Fullerton Fund Management：Xingjian Liang； | | | Grand Alliance AM：Matthew Dong；Hel Ved Capital： | | | Marshall Yang；Manulife Asset Management：Emily | | | Liao；Millennium Capital：Yang Bai；Overlook | | | Investments：Jason Lin；Pictet Asset Ma ...

报道称，中国电池企业已占据全球储能系统近90%的产能，在美国和欧洲市场份额分别超过80%和 75%。然而，随着美国关税壁垒的升级，韩国电池企业正试图借机在欧美市场重振旗鼓。 储能系统通过管理软件调控成组电池模块，帮助国家电网及家庭、企业和工厂应对风能和太阳能供应的 波动。未来十年，随着人工智能硬件、电动汽车等清洁技术对电力需求的激增，储能系统还将为电网提 供关键备用支持。 国际能源署本月报告预测，AI数据中心全球用电需求将在未来五年翻番，占美国2030年前电力需求增 长的近半数。电池咨询公司Rho Motion研究主管Iola Hughes指出："储能常被视为可再生能源领域最缺 乏吸引力的环节，但它恰恰是未来保障各国电力稳定的核心技术。" 据Rho Motion数据，储能电池市场份额已从2020年的5%攀升至当前的20%。全球储能容量在2023-2024 年间增长52%，预计将从去年的340吉瓦时跃升至2030年的760吉瓦时（相当于760万辆电动汽车电池总 和）。蓬勃发展的储能市场甚至帮助特斯拉弥补了电动汽车销售疲软——其家用Powerwall和电网级 Megapack储能产品需求激增，CEO马斯克称该业务 ...

文 | 中关村储能产业技术联盟综合整理 据央视新闻4月29日报道，西班牙和葡萄牙28日遭遇大规模停电，影响超过5000万伊比利亚半岛民众，交通、通信、医疗等关键领域一度瘫痪， 法国南部等周边地区也受短暂波及。 欧盟委员会执行副主席里贝拉表示，目前无任何证据表明导致伊比利亚半岛大面积停电的原因是网络攻击。此次大停电是近年来欧洲记录到的 最 严重停电事件之一。 目前，官方尚未给出正式的停电原因，仍需时日调查确定。 西班牙电网运营商Red Eléctrica 负责人Eduardo Prieto 4月28日表示：停电由"电网的强烈振荡"引发，该振荡导致西班牙电力系统与欧洲电网断 开。他提到的"强烈震荡"，也就是首相桑切斯在讲话中提到的"技术层面出现重大波动"。 功率开始快速变化时，就会引起电网的振荡，最终导致崩溃停电。比如，大规模负荷接入或切除会引起发电功率和负荷需求之间的不平衡，导致 电网振荡出现。 葡萄牙电网运营商REN认为 ：电网的这次异常振荡可能与西班牙的极端气温变化有关。该公司专家称，极端气温波动导致了400kV以上的超高压 电网振荡。 能源分析师表示，如此大规模的停电在富裕国家并不常见，鉴于伊比利亚半岛对 ...

金杯电工 20250429 摘要 2025 年一季度，公司业务结构进一步均衡，电池线与电线电缆营收占比四六 开，利润段比五五开。动力电池系统贡献了更多增量，其中电池线受益于电网 投资和新能源汽车的持续高景气，一季度净利润同比增长超 50%。无锡基地新 • 尽管一季度铜价同比上涨 10%，电线部分因库存收益小幅受益，但地产市 场需求下滑导致电线电缆业务下降 15%，集团整体利润仅持平或略微增长。 • 电子线单吨净利一季度达 3,000 多元，高于去年全年水平。电线电缆业务 加大电网和央企投入，预计二季度电缆业绩改善，全年电缆业务预计增长， 弥补电线业务下滑。 增产能也促进了这一增长。一季度单季销量达 2.2 万吨，同比增长超 12%。虽 然地产行业影响经销渠道电线销量同比下滑超 12%，但工业电缆端增量较好， 总体营收仍然实现正向增长。在大客户直销策略见效明显的背景下，公司进一 步巩固了市场份额。 公司在新兴业务和海外市场方面有哪些进展？ 新兴业务方面，新能源车用扁线销量同比增长 38%，工业电机用扁线销量同比 增长 31%。风电、光伏等清洁能源线缆发货额增长超 3 倍，充电桩线缆中工业 线缆发货额增长超 5 ...

今日早参 2025 年 4 月 30 日 张继强 研究所所长、固收首席研究员 座机：13910012450 邮箱：zhangjiqiang@htsc.com 黄乐平 全球科技战略首席研究员 座机：14715372496 邮箱：huangleping@htsc.com 今日热点 固定收益：被夸大的美债到期冲击 近日美债市场波动较大，尤其是市场热议美债 6 月集中到期对金融市场的潜 在冲击。短期来看，6 月美债到期冲击或被市场高估，中长期美债到期与发 行压力均不大，从供给渠道对美债利率的影响或相对有限，关注债务上限上 调后的供给冲击，预计在今年三季度。中期看，美国基本面有较大下行压 力，若经济陷入衰退，美债或仍是高胜率品种。长期视角下，美债的海外需 求或面临趋势性下滑，而欧债、日债以及黄金可能成为潜在的替代品种。本 周配置建议方面，近两周关税尾部风险下降，市场或进入"关税疲劳期"， 全球风险偏好延续修复，欧股、日股已经收复关税公布以来大部分跌幅。不 过，随着不少资产价格已经接近 4 月 2 日关税公布前水平，亟待新的方向触 发剂。后续关注点转向实际经济数据变化和关税谈判进展，四月 PMI 数据或 大概率走弱。 风 ...

Core Points - A massive power outage occurred in Spain and Portugal on April 28, affecting over 50 million people on the Iberian Peninsula, disrupting key sectors such as transportation, communication, and healthcare [2][3] - The outage was triggered by a sudden loss of 15 GW of power, equivalent to 60% of Spain's electricity demand at that time, leading to significant disruptions in major cities [3][6] - The incident has raised concerns about the vulnerability of the European power grid and the reliability of renewable energy sources, particularly in Spain, which has a high reliance on wind and solar energy [8][9] Group 1: Incident Details - The power outage began at 12:33 PM, with a rapid loss of 15 GW of generation capacity within 5 seconds, an unprecedented event [3] - Major cities like Madrid and Lisbon experienced extensive blackouts, with Madrid's power outage lasting over 6 hours and affecting transportation systems, including rail and air travel [3][4] - The situation led to chaos, with people rushing to supermarkets for supplies and traffic signals failing, causing accidents [4][5] Group 2: Causes and Implications - Initial assessments suggest that extreme temperature fluctuations in Spain may have caused abnormal oscillations in high-voltage lines, contributing to the grid failure [6][8] - Experts indicate that Spain's heavy reliance on renewable energy, combined with limited interconnections with neighboring countries, makes the grid more susceptible to disturbances [7][8] - The incident has sparked debates about the pace of renewable energy transition and the need for investment in grid stability and infrastructure modernization across Europe [9]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expectation that the stock will outperform the market index by more than 15% over the next six months [5][7]. Core Insights - The company, Guodian NARI (国电南瑞), has shown steady performance with a revenue of 57.42 billion yuan in 2024, reflecting a year-on-year growth of 11.15%. The net profit attributable to shareholders reached 7.61 billion yuan, up 6.06% year-on-year [4][5]. - In Q1 2025, the company reported a revenue of 8.89 billion yuan, a 14.76% increase year-on-year, with a net profit of 680 million yuan, up 14.14% [4]. - The smart grid segment generated 28.47 billion yuan in revenue in 2024, growing by 10.70% with a gross margin of 29.52% [4]. - The company signed new contracts worth 66.32 billion yuan in 2024, marking a 13.78% increase from the previous year [4]. Summary by Sections Financial Performance - In 2024, the company achieved total revenue of 57,417.25 million yuan and a net profit of 8,146.60 million yuan. The projected EPS for 2025 is 1.09 yuan, with a PE ratio of approximately 21 times [6]. - The company’s gross margin and net margin for 2024 were 26.66% and 14.19%, respectively, indicating stable profitability [4]. Business Development - The company is enhancing its competitive edge through the integration of business units and focusing on new energy, industrial control, and international markets. New business segments grew by 36.24% [4]. - The company is actively participating in high-voltage and pumped storage projects, securing significant contracts in 2024 [4]. Research and Innovation - R&D investment reached 4.03 billion yuan in 2024, accounting for 7.02% of total revenue, which is an increase of 0.31 percentage points year-on-year [4]. - The company is committed to strengthening its technological innovation capabilities, which is expected to enhance its core competitiveness [5].

Group 1 - The Linyi Municipal Government is committed to deepening energy transition reforms and aims to create over 300 green enterprises and villages, with new energy installations exceeding 10 million kilowatts [2] - The focus is on optimizing the energy structure by implementing 56 major projects in the new energy sector, accelerating the development of onshore wind, centralized solar, and biomass energy [2] - The government plans to enhance the consumption of new energy by utilizing pumped storage power stations and promoting various energy storage technologies, aiming to meet a demand for over 1 million kilowatts of new energy access throughout the year [2] Group 2 - The initiative includes exploring new green electricity supply models and promoting integrated development of source-network-load-storage systems, as well as virtual power plants [3] - There is an emphasis on creating zero-carbon parks and green electricity industrial parks, while encouraging enterprises to engage in green electricity trading and carbon footprint pilot projects [3] - The development of a digital energy management platform is underway, with a focus on integrating artificial intelligence with energy management to enhance the city's energy digitalization [3]