Core Insights - The "14th Five-Year Plan" period is a critical window for the construction of a new power system and energy transition in China, with a high investment cycle in the distribution network already underway [1] - Haocreat Ruitong, recently listed on the Growth Enterprise Market, is actively engaging in mid-term dividend plans and strategic direction aligned with the "14th Five-Year Plan" investment in distribution networks [1][2] Investment Outlook - The investment scale in the distribution network during the "14th Five-Year Plan" is expected to continue the high prosperity seen in the "13th Five-Year Plan," with an estimated investment of 680-720 billion yuan, over 60% of which will be directed towards green and digital initiatives [2][3] - The company has established a solid brand position in the smart distribution equipment sector, with its core products passing rigorous qualifications from major power grids [3] Strategic Development - Haocreat Ruitong is focusing on three core products: smart ring main units, smart pole-mounted switches, and box-type substations, enhancing its market share through product structure upgrades [3] - The company aims to expand its market presence beyond the two major power grids, leveraging its production capacity to tap into high-quality external clients [4] Global Expansion - The company is preparing for global market opportunities, having conducted in-depth research in key regions like the Middle East and Europe, with products meeting local market requirements [4] Financial Performance - The company announced a mid-term dividend of 5 yuan per 10 shares, totaling 55 million yuan, reflecting confidence in its stable growth [6][7] - For the first three quarters of 2025, Haocreat Ruitong reported revenues of 693 million yuan, a year-on-year increase of 2.93%, and a net profit of 92.3 million yuan, up 1.16% [7] - The company has achieved a compound annual growth rate of 24.47% in revenue and 27.22% in net profit from 2022 to 2024, establishing a solid foundation for seizing opportunities during the "14th Five-Year Plan" [7] Investment Projects - The proceeds from the company's IPO are being directed towards key projects, including the production of smart ring main units and smart pole-mounted switches, which will enhance production capacity and core technology development [5]

Core Viewpoint - The company, Haocreat Ruitong, is leveraging strategic opportunities in the "14th Five-Year Plan" period for distribution network investment while advancing core technology research and production capacity, aiming to expand into emerging markets and overseas business [1][4]. Financial Performance - The company plans to distribute cash dividends of RMB 5 per 10 shares, totaling RMB 55 million, with the record date on January 8, 2026, and the ex-dividend date on January 9, 2026 [2]. - For the first three quarters of 2025, Haocreat Ruitong reported revenue of RMB 693 million, a year-on-year increase of 2.93%, and a net profit attributable to shareholders of RMB 92.3 million, up 1.16% [2]. - Historical performance shows strong growth, with revenues of RMB 560 million, RMB 672 million, and RMB 867 million from 2022 to 2024, reflecting a compound annual growth rate (CAGR) of 24.47%, and net profits of RMB 68.8 million, RMB 87.4 million, and RMB 111 million, with a CAGR of 27.22% [2]. Market Position and Competitive Advantage - Haocreat Ruitong has established a strong competitive advantage in the smart distribution equipment sector, focusing on three core products that have passed rigorous qualifications from State Grid and Southern Power Grid [3]. - The company ranks among the top in the number of bids won for smart ring main units, smart pole switches, and box-type substations in the State Grid's distribution material procurement from 2022 to 2024 [3]. - The State Grid's fixed asset investment is projected to exceed RMB 650 billion in 2025, with the "14th Five-Year Plan" for distribution network investment exceeding RMB 1.2 trillion, providing significant market opportunities for the company [3]. Strategic Development and Market Expansion - The company is focusing on the "Two Networks" market, with network business revenue accounting for 88.92%, 92.69%, and 87.16% from 2022 to 2024 [5]. - Plans for future expansion include targeting high-quality customers outside the "Two Networks" and exploring overseas markets, with completed research in the Middle East and Europe [5]. - The company aims to align its market value with intrinsic value through stable short-term market capitalization and long-term performance growth, supported by technology research, production capacity expansion, and market development [5]. Industry Outlook - The smart distribution equipment industry is entering a golden development period with the commencement of the "15th Five-Year Plan" for distribution network investment [6]. - Haocreat Ruitong is expected to benefit from the industry's high prosperity due to its solid technical strength, stable customer base, clear development strategy, and ongoing capacity expansion [6].

Group 1 - The first unit of the Yixian Pumped Storage Power Station has been successfully put into operation, marking a significant step in the construction of a new energy system in the Xiong'an New Area and enhancing the renewable energy consumption capacity of the North China power grid [1][3] - The Yixian Pumped Storage Power Station has a total investment of 8.022 billion yuan and a total installed capacity of 1.2 million kilowatts, with an annual pumped storage electricity of 24.09 billion kilowatt-hours and an annual power generation of 18.07 billion kilowatt-hours [1] - The operation of the power station is expected to reduce coal consumption by approximately 126,000 tons and cut carbon dioxide emissions by about 213,000 tons annually [1] Group 2 - The construction of the Yixian Pumped Storage Power Station faced significant technical challenges, including high burial depth and complex geological conditions, which required innovative construction techniques and collaborative efforts from all parties involved [2] - The project utilized electric excavation equipment for the first time in the domestic hydropower industry, achieving full electrification in tunnel construction, which contributed to the project's completion in just 31 months [2] - The successful commissioning of the first unit is the first pumped storage unit to be put into operation in the southern Hebei power grid since the 12th Five-Year Plan, highlighting its importance in optimizing the energy structure and ensuring reliable power supply [3]

Core Viewpoint - The electric power equipment and new energy industry is experiencing a significant structural optimization and global expansion in 2025, driven by the acceleration of global energy transition and the deepening of China's "dual carbon" strategy [1] Group 1: Industry Performance - The electric new energy industry has transitioned from a period of adjustment to an upward trend, with a notable recovery in fundamentals and accelerated globalization [2] - As of November 2025, China's total installed power generation capacity reached 3.79 billion kilowatts, a year-on-year increase of 17.1%, with renewable energy generation leading the growth [2] - Solar power generation capacity surged to 1.16 billion kilowatts, up 41.9% year-on-year, while wind power capacity reached 600 million kilowatts, growing by 22.4% [2] Group 2: Export Growth - The overseas market has shown remarkable growth, highlighting China's core position in the global new energy industry [3] - China's power transformer exports amounted to 44 billion yuan from January to November 2025, with a year-on-year growth rate exceeding 45%, and Saudi Arabia has become the largest export market for Chinese power transformers [3] - The International Energy Agency (IEA) predicts global grid investment will exceed $400 billion in 2025, potentially reaching $650 billion by 2035, providing a favorable environment for Chinese companies [3] Group 3: Market Recognition - The capital market has recognized the electric new energy industry, with significant stock price increases for key companies such as Wolong Electric Drive, Sungrow Power Supply, and Goldwind Technology, which saw annual stock price increases of 244%, 137%, and 100%, respectively [3] Group 4: Future Outlook - Looking ahead to 2026, multiple brokerage firms anticipate that the electric new energy industry will continue its upward trend driven by "new growth" and "high-quality development" [4] - Key areas of focus for investors in 2026 include artificial intelligence data centers, solid-state batteries, humanoid robots, energy storage, lithium batteries, wind power, and photovoltaics [4] - The industry is expected to contribute significantly to the global energy revolution and China's industrial upgrade, with a strong emphasis on high-level openness and global expansion [5]

Core Viewpoint - The National Development and Reform Commission and the National Energy Administration have issued guidelines to promote high-quality development of the power grid, emphasizing increased investment in the sector [1] Group 1: Investment Strategy - The guidelines call for an increase in power grid investment to align with national strategic deployments, advocating for a balanced approach to investment that is neither excessively ahead of schedule nor lagging behind [1] - There is a focus on enhancing the renovation and upgrading of existing power grid infrastructure to support the construction of a new power system [1] Group 2: Private Sector Involvement - The guidelines encourage qualified private capital to participate in power grid investment and construction, indicating a shift towards more inclusive investment strategies [1] Group 3: Management Mechanism - There is an emphasis on optimizing the investment and operational assessment management mechanisms for power grid enterprises, which may lead to improved efficiency and accountability in the sector [1]

Core Insights - The successful completion of the first electricity spot market transaction and settlement by the Datang Wenchang Chang'an Energy Storage Power Station marks a historic breakthrough for Hainan Province's independent energy storage project, officially integrating it into the Southern regional electricity spot market [1] - The project, with an installed capacity of 100 megawatts and 200 megawatt-hours, is the only independent energy storage project in Hainan selected for the National Energy Administration's new energy storage pilot demonstration list, capable of meeting the annual electricity demand of 32,000 residents [1] Group 1: Project Overview - The Datang Wenchang Chang'an Energy Storage Power Station has a total installed capacity of 100 MW/200 MWh and can provide an annual adjustment of 73 million kilowatt-hours [1] - The project serves as a benchmark for commercial operation of independent energy storage projects in Hainan, demonstrating a replicable and scalable model for market-oriented pricing [1] Group 2: Mechanism Innovation - The Southern Power Grid Hainan Electric Power Company has introduced an innovative registration model of "one market entity, two trading units," allowing for a dual trading system that references both consumption and generation management [2] - The implementation of a spot market node price mechanism enables energy storage projects to fully exploit peak and valley price differences, ensuring reasonable commercial returns [2] Group 3: Technical Support - The Hainan power grid has upgraded its electricity market trading system and scheduling automation platform, adding a special monitoring module for energy storage to ensure real-time monitoring and rapid response of charging status and charge-discharge curves [2] - This technical enhancement ensures that transaction clearing aligns precisely with the safety operation requirements of the power grid [2]

Core Viewpoint - The company is actively responding to the national "dual carbon" strategy and the requirements for the construction of a new power system by strategically investing in the energy storage sector [2] Group 1: Company Initiatives - The company has engaged in multiple engineering projects in the energy storage field, including the Xingan League Tuchuan Pingchuan Substation Energy Storage Project, Huadian Intelligent Energy Storage Project, and the Xingshan Energy Storage Power Station Demonstration Project [2] - The company has accumulated rich practical experience through its involvement in these projects, which positions it well for future opportunities in the energy storage sector [2] Group 2: Future Outlook - The company will continue to monitor development opportunities in the energy storage field and leverage its core engineering capabilities to expand its business scenarios [2] - The company aims to contribute to the transformation and upgrading of the energy structure through its ongoing efforts in the energy storage sector [2]

Group 1 - The core point of the news is the successful commissioning of the 4th unit of Beihai Company, which marks the completion of all four 1 million kilowatt generator sets in the first and second phases, achieving a total installed capacity of 4 million kilowatts [1][2] - The integrated energy base "Electric Port Storage and Transportation" has been established, featuring two 100,000-ton general-purpose terminals capable of unloading global coal, along with a coal storage yard with an annual capacity of 10 million tons, forming a complete chain from unloading coal to coal-fired power generation [1][2] - The 3rd and 4th units are the most efficient and environmentally friendly coal-fired units in the Guangxi region, providing strong support for grid stability and the construction of a new power system [2] Group 2 - The company is committed to achieving "dual carbon" goals by implementing ultra-low emissions and seawater desulfurization technologies, achieving zero limestone, zero solid waste, and zero desulfurization wastewater, with emissions indicators at the regional optimal level [5] - The company is advancing the construction of a 27.29 megawatt distributed photovoltaic project, creating a green closed-loop system of "power generation—charging—carbon benefits" to effectively reduce carbon emission intensity [5] - The company aims to align with national energy security and green development strategies, ensuring energy safety through coal while enhancing development quality in the transition to a low-carbon economy [7]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Acme International Holdings Limited 益 美 國 際 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1870） 自願公告－廣東韶關電網側獨立儲能項目進度公告 本公告乃由益美國際控股有限公司（「本公司」，連同其附屬公司統稱「本集團」） 自願刊發。本公告旨在讓本公司股東（「股東」）及潛在投資者瞭解本集團的最新 業務發展。 本公司董事會（「董事會」）欣然宣布，本集團在業務拓展上取得實質性突破，旗下 全資附屬公司樂昌綠電儲能科技有限公司規劃中的獨立儲能項目已正式納入廣東 省能源局獨立儲能建設規劃（納規）並進入2025年建設計畫，於近日已獲得廣東電 網正式接入批覆，標誌著項目已進入實質性推進階段。 儲能項目基本情況及取得關鍵進展 本集團規劃開發之「韶關市樂昌218兆瓦╱436兆瓦時電化學獨立儲能項目」（「該 項目」），採用磷酸鐵鋰電芯，佔地共計47畝。該項目 ...

Core Insights - The Xinjiang region is enhancing its power grid capacity and reliability through the construction of two major projects: the Mu Lei North 750 kV Substation and the Kanas 750 kV Substation expansion [1][2] - These projects are crucial for supporting the development of renewable energy bases and facilitating high-quality economic growth in Xinjiang [1] Group 1: Project Details - The Mu Lei North 750 kV Substation is a key hub connecting the 10 million kW wind and solar power base, with a dynamic total investment of over 1.3 billion yuan [1] - The Kanas 750 kV Substation expansion has a dynamic investment of over 400 million yuan and will add a new transformer with a capacity of 150 million kVA [1] Group 2: Strategic Importance - The Mu Lei North project will optimize the 750 kV grid structure to meet the demand for renewable energy transmission and support the entire renewable energy industry chain [1] - The Kanas expansion will significantly enhance the power transmission capacity and reliability of the Erqisi River Valley, promoting the conversion of local resources and supporting economic development in the Altay region [1] Group 3: Future Outlook - By 2025, State Grid Xinjiang Electric Power Company plans to undertake 42 ultra-high voltage projects, with a total line length of 5,137.7 kilometers and a substation capacity of 70.5 million kVA, marking a record high in annual grid investment and construction [2] - This initiative aims to complete the "14th Five-Year Plan" for grid construction and establish a robust main grid framework in Xinjiang, ensuring solid power support for energy base development and socio-economic growth [2]