转自：新华财经 兰花科创相关负责人表示，此次与盘毂动力的战略合作，是兰花践行能源产业智能化转型战略的重要举 措。依托盘毂动力在高端电机领域的技术优势，结合兰花科创深耕煤炭行业多年的产业资源与场景经 验，双方将实现"技术+场景"的深度融合，共同打造煤矿智能化装备标杆企业。未来，合资公司将以核 心技术突破为引领，持续推动煤炭装备升级，助力山西能源产业高质量发展迈向新台阶。 编辑：张瑶 根据协议约定，合资公司将聚焦煤矿智能化装备核心部件研发与产业化，重点推进三大核心业务：一是 联合研发制造煤矿用防爆型轴向磁通电机系列产品，完整覆盖资格认证、模拟场景试验、井下试运行、 技术推广应用及规模化生产全链条；二是拓展非煤矿用电机领域市场，通过合同能源管理、融资租赁等 创新模式，推广高效工业节能装备；三是开展装载机等设备"油改电"升级及井下无轨胶轮车电驱技术研 发与应用。 值得关注的是，煤矿用防爆型轴向磁通电机的研发突破，将有效打破国外企业在高端煤矿设备领域的技 术垄断格局。该类产品的落地应用，不仅能填补国内相关领域技术空白，更将显著提升我国煤矿装备制 造业的整体竞争力，为煤炭行业智能化、绿色化转型提供核心技术支撑。 作为此次 ...

Group 1 - The core viewpoint of the news is that Hangzhou Steam Turbine Co., Ltd. (杭汽轮B) has received approval from the China Securities Regulatory Commission for its share swap merger with Hailianxun, marking a significant step in its "B to A" transition plan and indicating the practical implementation of industrial integration in turbine equipment and power information technology [1][2][3] Group 2 - The merger will create a dual main business structure of "industrial turbine machinery + power information technology," aiming for deep integration in the intelligent transformation of the energy industry [2] - Hangzhou Steam Turbine reported a stable performance in the first half of 2025, with revenue of 2.447 billion yuan and a net profit attributable to shareholders of 153 million yuan, while the overall gross margin increased to 26.27% [2] - The company has seen significant growth in its core business, with over 80% of revenue coming from industrial turbines and a 39.6% year-on-year increase in hydropower generator sets, alongside a 66.39% surge in overseas business revenue [2] Group 3 - The restructuring addresses the challenges faced by B-share markets, where the average discount rate exceeds 60%, and the transition to A-shares is expected to enhance liquidity and valuation [3] - A-share market provides diverse financing tools that will support the company's independent turbine research and development and overseas market expansion, with a reported 17.12% reduction in boiler and prime mover costs [3] - The capital operation space will be significantly expanded, with the controlling shareholder committing to invest up to 1.5 billion yuan to stabilize the stock price [3]