Core Points - The construction of the 110 kV Jinpu Substation by the State Grid Zhangpu County Power Supply Company has entered a significant phase with the successful completion of the main transformer hoisting operation [1][3] - The project is expected to be fully operational by the end of December 2025, adding a transformer capacity of 100 MVA, which will alleviate the power load pressure in the county and enhance the reliability of power supply [1][3][5] Group 1 - The project team has organized the installation of equipment, assembly of accessories, vacuum oil filling, and related commissioning tests, ensuring compliance with insulation performance standards [3] - The main transformer hoisting is a technically demanding and high-risk phase, with the company implementing safety measures and monitoring to achieve zero damage to equipment and zero accidents [3][5] - The Jinpu Substation is a crucial infrastructure project aimed at optimizing the regional power grid structure and supporting local industrial development [1][3] Group 2 - The company is currently in a critical year-end phase, strategically arranging construction plans and resource allocation to accelerate the development of power grid infrastructure [5] - Future efforts will focus on strengthening the overall management of the Jinpu Substation construction to ensure timely and high-quality project completion, contributing to the economic development of Zhangpu County [5]

Core Viewpoint - The successful completion of the 220 kV power transmission project by State Grid Panjin Power Supply Company provides stable and reliable power support for the Huajin Amoco Petrochemical Co., Ltd. project, significantly accelerating its construction progress [1][2] Group 1: Project Overview - The total investment for the Huajin Amoco fine chemical and raw material project is 83.7 billion yuan, with an overall construction progress of 77% completed to date [1] - The 220 kV power transmission project is a critical power source for the major project, facilitating equipment debugging before production [1] Group 2: Operational Details - The power line for the 220 kV project is supplied from the chemical 220 kV substation of State Grid Panjin Power Supply Company, utilizing the Huajin No. 1 and No. 2 lines [1] - Prior to the power transmission, the supply staff meticulously verified operational equipment and processes to ensure accuracy and safety [1] - During the power transmission, staff adhered to strict risk management protocols, completing 230 operational steps and conducting infrared temperature checks post-transmission to ensure no overheating issues [1] Group 3: Company Initiatives - State Grid Panjin Power Supply Company emphasizes a "fast service, early power supply" philosophy, aiming to enhance the speed of project connections [2] - The company addresses challenges in the connection process by coordinating various professional teams to streamline workflows and ensure seamless integration [2] - Investments in surrounding power grid infrastructure have been increased to solidify the power supply foundation, with a focus on supporting upstream and downstream industries [2] - The company has implemented several key grid projects, such as the transformation of the chemical 220 kV substation and the 500 kV Liao Bin substation, significantly improving the reliability and capacity of the regional power grid [2]

Group 1: Overseas Market Expansion - The company aims to expand its overseas market through the establishment of a sales subsidiary in Shanghai and the introduction of overseas sales teams [3] - A dedicated R&D, manufacturing, and service team has been formed to cater to overseas customer needs, ensuring quick response and quality service [3] - A joint venture, Yimei Fei Transformer (Jiangsu) Co., Ltd., was established in 2025 with a major client to specifically target the European market [3] Group 2: Shareholder Interests - The company prioritizes the interests of shareholders, especially minority shareholders, by enhancing corporate governance and internal control systems [3] - The 2024 annual distribution plan includes a cash dividend of RMB 1.42 per 10 shares, totaling RMB 19,977,387.86, based on a total share capital of 140,685,830 shares after buyback [3] - In 2025, the company plans to cancel 1.8043 million repurchased shares to improve earnings per share and net asset return, thereby stabilizing and increasing market value [3] Group 3: Current Overseas Business Regions - The company's products are exported directly or indirectly to Europe, the Americas, Africa, and Southeast Asia [4] Group 4: Profit Growth Points - The company focuses on the power equipment manufacturing sector, aiming to become a leading provider of energy-saving power equipment globally [4] - Efforts will be made to expand into overseas markets, particularly in Europe, Southeast Asia, and the Americas, while also strengthening domestic market partnerships [4] - Continuous investment in technology and product development will enhance the sales scale of key products such as distribution transformers and renewable energy transformers [4] Group 5: Industry Development Outlook - Global electricity demand is on the rise, coupled with the need for upgrading aging power grids, leading to increased investment in power grid infrastructure [5] - Several countries have announced plans for power grid infrastructure development, which will drive demand for transformers and other power equipment [5] - The overall demand for the power equipment manufacturing industry is expected to maintain strong growth due to increased investment and capacity shortages in certain regions [5]