布拖±800千伏特高压换流站500千伏主变压器开展消防喷淋试验现场。郑自豪摄 国网四川直流公司提供的数据显示，截至目前，四川直流输电通道已累计外送电能超1.6万亿千瓦时。 本次集中检修的顺利完成，进一步增强了电网运行可靠性，为四川省内及华东、华中地区冬季电力供应 提供了有力保障。(完) （文章来源：中国新闻网） 中新网成都11月29日电 (刘忠俊郑自豪)11月29日，四川省凉山州境内的布拖±800千伏特高压换流站双极 直流系统已完成解锁，四川省内8座换流站2025年度集中检修工作全部完成。此次集中检修有效提升了 主干电网设备健康水平，为迎峰度冬电力稳定供应奠定了坚实基础。 据了解，8座换流站的年度检修安排在春、秋两季电网负荷相对较低的时段分批开展。从春季复龙±800 千伏特高压换流站率先启动，到秋末布拖±800千伏特高压换流站收官，总时长累计52天。国网四川电 力先后累计投入检修人员3300余人次，高效完成数百项检修及技改任务，实现对关键输电枢纽的全 面"体检"与效能提升。 在雅砻江、布拖等±800千伏特高压换流站，国网四川电力试点应用换流变主动防御系统，将防爆燃保 护从被动应对转向主动干预，显著提升设备本质 ...

Overview of Business Performance - The company reported total revenue of 496 million yuan for the first half of 2025, a year-on-year decrease of 6.02% [1] - The net profit attributable to shareholders was 8.95 million yuan, down 90.17% year-on-year [1] - The net profit after deducting non-recurring items was 4.21 million yuan, a decline of 95.4% year-on-year [1] - In Q2 alone, total revenue was 279 million yuan, a decrease of 13.22% year-on-year [1] - The net profit for Q2 was 18.32 million yuan, down 76.21% year-on-year [1] Financial Indicators Analysis - Total selling, administrative, and financial expenses amounted to 119 million yuan, accounting for 23.91% of revenue, an increase of 16.35% year-on-year [2] Cash Flow and Asset Status - The current ratio is only 0.7, indicating increased short-term debt repayment pressure [3] Business Composition Analysis - The delay in subsidy verification for renewable energy projects has led to an increase in accounts receivable and corresponding credit impairment losses, which rose by 48.41 million yuan compared to the previous year [4] - Maintenance of the Tianzhong DC transmission project resulted in 13 days of power outage, significantly increasing the project's curtailment rate and causing a revenue decline of 42.97 million yuan, with a gross margin decrease of 6.32% [4] Key Financial Metrics - Gross margin was 49.07%, down 10.98% year-on-year [6] - Net margin was 1.75%, a decrease of 89.84% year-on-year [6] - Earnings per share were 0.01 yuan, down 90.0% year-on-year [6] - Operating cash flow per share was 0.16 yuan, an increase of 25.58% year-on-year [6] - Cash and cash equivalents amounted to 455 million yuan, up 37.94% year-on-year [6] - Accounts receivable reached 2.189 billion yuan, an increase of 11.58% year-on-year [6] - Interest-bearing debt totaled 11.634 billion yuan, up 59.76% year-on-year [6] Cash Flow Status - Cash and cash equivalents to total assets ratio is only 2.71%, and cash to current liabilities ratio is 15.26%, indicating a need for attention to cash flow [7] - The interest-bearing debt ratio has reached 57.97%, with interest-bearing debt to average operating cash flow ratio at 17.45%, highlighting debt concerns [7] - Accounts receivable to profit ratio has reached 4363.02%, necessitating attention to accounts receivable recovery [7]

Core Insights - The Zhejiang Zhoushan 500kV interconnected transmission and transformation project has undergone its first simultaneous double-line maintenance, marking it as the highest voltage level cross-sea transmission line in the world [1] Industry Developments - The maintenance involves removing the oxidation layer from the wire surface to eliminate potential hazards, supporting a key energy project and grid access work in Zhejiang Province [1] - Maintenance personnel have over 10 years of experience and have undergone professional training, ensuring safety measures are in place [1] - New technologies such as heavy-duty drones for material transport and high-altitude X-ray inspection equipment have been introduced, enhancing the maintenance process [1] - Despite technological advancements, minor defects still require manual inspection by maintenance personnel [1]