Core Insights - The UK is facing a significant backlog in renewable energy projects awaiting grid connection, with over 770 GW of projects pending, far exceeding the current installed capacity of around 60 GW [1] - The average waiting time for renewable energy projects to connect to the grid has surpassed 6 years, with about 30% of installations facing delays of over 10 years [1] - The backlog is hindering the UK's energy transition, with the annual growth rate of renewable energy generation dropping to 4.45% over the past three years, below the medium to long-term target of over 20% [1] Grid Connection Issues - The core issue lies in the rigid grid connection mechanism and outdated grid investment planning [2] - The management of grid connection is characterized by a "first-come, first-served" principle, allowing developers to queue regardless of project feasibility, leading to speculative applications and a high number of "zombie projects" [3] - Regulatory mechanisms have resulted in insufficient grid investment, exacerbating the backlog problem [4] Reform Initiatives - The UK has introduced the "TMO4+" reform to address the backlog and inefficiencies in planning, focusing on a demand-driven approach and verifying project maturity [6] - A dual-threshold admission standard will be implemented, replacing the traditional queuing system with a "ready to connect" mechanism, which requires projects to demonstrate feasibility and alignment with the UK's 2030 carbon peak planning [6] - The reform is expected to eliminate approximately 68% of "zombie projects," freeing up resources for viable projects [6] Dynamic Queue Optimization - The reform includes a "process elimination system" to remove overdue projects from the queue, thereby releasing grid capacity [7] - A "flexible replacement" rule will allow mature projects to fill capacity gaps quickly, and regional capacity rebalancing will address structural imbalances in energy distribution [7] - A streamlined approval process will be established, integrating various departmental procedures into a "one-stop" platform to reduce administrative time costs [7] Investment in Grid Infrastructure - The UK plans to invest £35 billion in the largest grid upgrade project globally from 2026 to 2031, focusing on enhancing renewable energy transmission and grid flexibility [9] - Over £11 billion will be allocated for maintenance and upgrades of existing transmission networks, while approximately £24 billion will support strategic transmission investments [9] - The upgrade will involve enhancing around 3,500 km of overhead lines to nearly double transmission capacity and deploying innovative technologies [9] Lessons for Other Markets - Other markets, such as China, can learn from the UK's experience by ensuring adequate infrastructure investment and optimizing priority mechanisms and approval efficiency [11] - Emphasizing "proactive grid investment" principles and enhancing the capacity of transmission networks in renewable-rich areas are crucial [11] - A unified management approach can prevent fragmented development and ensure coordinated resource allocation [12] - Prioritizing mature projects and implementing a dynamic scoring system for project prioritization can help avoid resource misallocation [13]

摘要 永福股份采取"一体两翼"业务模式，一体为电力能源综合集成解决方 案，涵盖新能源、电网、风电、光伏、储能等全生命周期服务，两翼为 分布式光伏和数字能源集成产品及服务。 分布式光伏集成产品板块自 2022 年落地以来收入快速增长，2022 年 收入 0.8 亿元，2023 年 5.2 亿元，2024 年达 6.9 亿元；数字能源板块 2024 年收入 0.8 亿元，较前年显著提升。 受海上风电投资低潮和疫情影响，电力能源综合集成解决方案业务前期 受阻，但随海上风电投资回暖和海外市场恢复，2024 年下半年开始订 单逐步增加，呈现上升趋势。 公司 EPC 总承包占比下降，毛利率更高的勘察设计占比提升，表明公司 在优化资源配置，提高高附加值业务比例方面取得进展。 输变电业务以勘察设计为主，占总收入约 20%；风电和光伏各占 30% 以上；储能类 EPC 总包占比约 10%；数字能源和智能运维等其他业务 占剩余部分。 Q&A 永福股份公司目前的经营情况如何？各业务板块分别有哪些进展？ 永福股份自 2017 年上市以来，始终致力于让电力更清洁、更智慧，并朝着成 为国际知名零碳科技公司的方向发展和布局。公司业务近年来 ...

4．目前各地都在推进零碳电网、零碳电力的建设，公司 目前在零碳相关产业的布局情况如何？ 答：尊敬的投资者您好，永福股份具备支持电力能源绿 色转型发展的零碳电力系统性服务能力，可深度融合新能 源、电网、储能、智能运营等板块业务，充分发挥先进的电 力系统规划能力和各子系统技术优势，为客户提供全周期、 全方位、全场景的零碳电力解决方案、产品和服务。 福建永福电力设计股份有限公司 投资者关系活动记录表 | 证券简称：永福股份 | 证券代码：300712 编号：2025-001 | | | --- | --- | --- | | | □特定对象调研 分析师会议 媒体采访 | | | 投资者关系活动类型 |  业绩说明会 新闻发布会 路演活动 | | | | 现场参观  其他 投资者网上集体接待日活动 | | | 时间、地点 | 年 月 2025 5 14 日（15:30-17:00）在线互动交流 | | | 参与单位名称及人员 | 通过"全景路演"网站（https://rs.p5w.net）参与 2025 | 年福建 | | | 辖区上市公司投资者网上集体接待日活动暨公司 2024 | 年度 | | | ...

证券代码：300712 证券简称：永福股份 公告编号：2025-019 福建永福电力设计股份有限公司 一、重要提示 本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投资者 应当到证监会指定媒体仔细阅读年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 立信会计师事务所（特殊普通合伙）对本年度公司财务报告的审计意见为：标准的无保留意见。 非标准审计意见提示 公司经本次董事会审议通过的利润分配预案为：以公司总股本187,546,035股扣除回购专用证券账户持有 的3,488,649股后的184,057,386股为基数，向全体股东每10股派发现金红利0.50元（含税），送红股0股 （含税），以资本公积金向全体股东每10股转增0股。 董事会决议通过的本报告期优先股利润分配预案 □适用 √不适用 二、公司基本情况 □适用 √不适用 公司上市时未盈利且目前未实现盈利 □适用 √不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 √适用 □不适用 1、公司简介 ■ 2、报告期主要业务或产品简介 永福股份致力于成为国际领先的零碳电力科技公司，以"让电力更清洁更智慧"为使命， ...