证券代码：603097 证券简称：江苏华辰 公告编号：2025-037 江苏华辰变压器股份有限公司 关于取消监事会并修订《公司章程》的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 江苏华辰变压器股份有限公司（以下简称"公司"）于2025年6月17日召开第三届董事会第十九次会议， 审议通过《关于取消监事会并修订〈公司章程〉的议案》。为全面贯彻落实最新法律法规要求，确保公 司治理与监管规定保持同步，进一步规范公司运作机制，提升公司治理水平，根据最新的《中华人民共 和国公司法》（以下简称"《公司法》"）、《上市公司章程指引》和《上海证券交易所股票上市规则》 （以下简称"《上市规则》"）等相关法律法规规定，并结合公司实际情况，公司拟不再设置监事会与监 事，由董事会审计委员会行使《公司法》规定监事会的相关职权，并同时增设职工董事。就此，公司拟 对《江苏华辰变压器股份有限公司章程》（以下简称"《公司章程》"）部分条款进行修订，并相应废止 《江苏华辰变压器股份有限公司监事会议事规则》。现将有关情况公告如下： 一、取消监事会 二、修订 ...

证券代码：603097 证券简称：江苏华辰 公告编号：2025-032 江苏华辰变压器股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 每股分配比例 A 股每股现金红利0.20元（含税） ? 相关日期 股份类别 股权登记日 最后交易日 除权（息）日 现金红利发放日 Ａ股 2025/6/5 － 2025/6/6 2025/6/6 ? 差异化分红送转： 否 一、 通过分配方案的股东会届次和日期 本次利润分配方案经江苏华辰变压器股份有限公司（以下简称"公司"）2025 年 5 月 21 日的2024年年度股东会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上 海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 （1）无限售条件流通股的红利委托中国结算上海分公司通过其资金清算系统向股 权登记日上海证券交易所收市后登记在册并在上海证券交易所各会员办理了指定交易 的股东派发。已办理指定交易的投资者可于红利发放日在其指定的证券营业部领取现金 ...

FANGDA PARTNERS http://www.fangdalaw.com 中国上海市石门一路 288 号 电子邮件 E-mail: email@fangdalaw.com 兴业太古汇香港兴业中心二座 24 楼 电 话 Tel.: +86- 21-2208 1166 邮政编码：200041 传 真 Fax.: +86-21-5298 5599 HKRI Taikoo Hui Shanghai, PRC 上海市方达律师事务所 关于江苏华辰变压器股份有限公司 致：江苏华辰变压器股份有限公司 上海市方达律师事务所（以下简称"本所"）是具有中华人民共和国境内法律 执业资格的律师事务所。根据相关法律顾问协议，本所指派律师出席江苏华辰变 压器股份有限公司（以下简称"公司"）2024 年年度股东会（以下简称"本次股东 会"），并就本次股东会的召集和召开程序、参与表决和召集会议人员的资格、表 决程序和表决结果等有关事宜出具本法律意见书。 本法律意见书依据《中华人民共和国公司法》 《中华人民共和国证券法》 《上 （以下称"《公司章程》"）的规 定出具。 本法律意见书仅就本次股东会的召集和召开程序、出席会议人员、召集人、 ...

Group 1: Investor Relations Activities - The company held an online annual performance briefing on May 19, 2025, attended by key executives including the Chairman and General Manager, Mr. Tan Yong [2][3] - The company maintains stable cooperation with major clients, with frequent business interactions and some long-term projects [3][4] Group 2: Research and Development Investment - In 2024, the company invested CNY 38,709,882.28 in R&D, accounting for 10.27% of its revenue, an increase from CNY 35,548,985.14 in 2023 [4][6] - The company aims to enhance its technological capabilities and brand influence through continuous R&D investment and collaboration with universities and research institutions [4][6] Group 3: Dividend Policy and Shareholder Returns - Since its listing in 2022, the company has distributed a total cash dividend of CNY 51,127,100, emphasizing a stable profit distribution policy [4][6] - The company is focused on improving operational quality and core competitiveness to ensure sustainable value returns to shareholders [4][6] Group 4: Future Development Strategy - The company plans to focus on expanding into new markets such as variable frequency, renewable energy, and energy storage systems [6][7] - Key strategies include enhancing digital transformation, building intelligent factories, and strengthening talent development [7][9] Group 5: Financial Performance and Challenges - In Q1 2025, the company reported a revenue increase of 19.98% and a net profit increase of 112.87%, attributed to growth in transformer and energy storage business [12][14] - The company faced challenges in 2024 due to delayed order fulfillment and increased competition, leading to a decline in revenue and profit margins [9][12] Group 6: Market Position and Competitive Strategy - The company aims to maintain its competitive edge by increasing R&D investment and optimizing internal management to enhance operational efficiency [9][10] - The company is actively exploring opportunities in emerging markets such as data centers and marine engineering [10][12]

Company Overview - Eaglerise Electric & Electronic (China) Co., Ltd. is engaged in the manufacturing and sales of transformers, power supplies, and lighting products, with a registered capital of 392.21 million yuan [1][12]. - The company was established on October 15, 1999, and is headquartered in Foshan, Guangdong Province, China [1][12]. Financial Information - As of March 31, 2025, the total share capital of the company is 392,205,291 shares, with 94.73% being freely tradable shares [12]. - The company’s major shareholder, Foshanshi Maiges Investment Co., Ltd., holds 23.77% of the shares, while the actual controller, Xiao Jun Cheng, holds a total of 26.72% [12][8]. Business Strategy - The company plans to raise a minimum of 300 million yuan through a targeted issuance of A-shares, with the funds intended for working capital [7][8]. - The issuance will not change the control of the company, as the major shareholder will remain the same post-issuance [8]. Industry Context - The company operates within the electrical machinery and equipment manufacturing industry, specifically in the sub-sectors of lighting equipment and transformers [13][14]. - The industry is regulated by the National Development and Reform Commission and the Ministry of Industry and Information Technology, which oversee policy formulation and industry standards [13]. Market Trends - The demand for new energy transformers is increasing, particularly in applications such as photovoltaic and wind power generation, electric vehicles, and energy storage systems [14][16]. - The industry is experiencing rapid growth due to government policies promoting renewable energy and energy efficiency, with a focus on reducing reliance on fossil fuels [15][16].

答：全球化趋势下，国内市场充满机遇与变革，公司将把握发展机遇，凭借自身优势，灵活调整策略， 努力在国内外市场实现持续、稳健的发展；公司长期和下游的总包方公司有较为深入的合作，积极协同 开拓海外项目，另公司目前部分变压器通过外贸代理公司对外出口。 问：公示出口海外主要在哪些国家和地区？在美国业务的进展情况？ 答：目前公司出口海外变压器主要为"一带一路"国家；美国子公司的业务目前尚未开展。 问：公司目前定增情况如何？ 证券之星消息，2025年5月16日三变科技（002112）发布公告称华安证券（600909）郑洋、民生证券许 浚哲、西部证券（002673）陈龙沧、财通证券（601108）沈晨于2025年5月16日调研我司。 具体内容如下： 问：公司如何看待目前的国内外市场及开拓海外市场的情况？ 答：公司本次定增事项已经中国证监会作出同意注册决定，正在有序推进中。 问：公司目前变压器覆盖哪些电压等级？ 答：目前主要覆盖500kv及以下的产品。 答：公司将继续聚焦主营业务，贯彻落实公司发展战略，做强主营产品线，大力发展新能源产品；公司 在坚定市场方向、深挖电网市场的同时，全面转型新能源业务开发，加强团队建设和渠道建设 ...

股票代码：002112 股票简称：三变科技 三变科技股份有限公司投资者关系活动记录表 编号：2025-002 | 投资者关系活 | √特定对象调研 □分析师会议 | | --- | --- | | 动类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位名称 | 华安证券郑洋 | | 及人员姓名 | 民生证券许浚哲 | | | 西部证券陈龙沧 | | | 财通证券沈晨 | | 时间 | 2025 年 5 月 16 日上午 09:30-10:30 | | 地点 | 公司一楼会议室 | | 上市公司接待 | 副总经理、财务总监兼董事会秘书：章日江先生 | | 人员姓名 | | | | 1、公司如何看待目前的国内外市场及开拓海外市场的情 况？ | | | 答：全球化趋势下，国内市场充满机遇与变革，公司将把 | | | 握发展机遇，凭借自身优势，灵活调整策略，努力在国内外市 | | 投资者关系活 | 场实现持续、稳健的发展；公司长期和下游的总包方公司有较 | | 动主要内容介 | 为深入的合作，积极协同开拓海外 ...

新特电气（301120）公告，公司拟出售全资子公司河北新华都（002264）变频变压器有限公司100%股 权给三河高瓴科技有限公司，交易总价款为3200万元。交易完成后，河北新华都将不再纳入公司合并报 表范围。此次交易旨在优化公司资产结构，提高资产运营效率，促进公司高质量发展。交易事项已经公 司第五届董事会第十二次会议审议通过，尚需提交股东大会审议。 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The demand for transformers is expected to be strong in 2025, leading to significant growth in the company's performance [7] - The company reported a revenue of 1.348 billion yuan in 2024, a year-on-year increase of 34.29%, while the net profit attributable to shareholders was 0.43 billion yuan, a year-on-year decrease of 41.31% [7] - The company anticipates a high growth rate in 2025 due to robust domestic and international demand for transformers, with a backlog of orders [7] Financial Performance Summary - Revenue projections for the company are as follows: - 2023A: 1,004 million yuan - 2024A: 1,348 million yuan (up 34.29%) - 2025E: 1,840 million yuan (up 36.54%) - 2026E: 2,359 million yuan (up 28.21%) - 2027E: 2,962 million yuan (up 25.56%) [1][8] - Net profit projections are as follows: - 2023A: 73.03 million yuan - 2024A: 42.86 million yuan (down 41.31%) - 2025E: 84.44 million yuan (up 97.00%) - 2026E: 123.08 million yuan (up 45.76%) - 2027E: 168.03 million yuan (up 36.53%) [1][8] - The company’s earnings per share (EPS) are projected to be: - 2023A: 0.39 yuan - 2024A: 0.23 yuan - 2025E: 0.45 yuan - 2026E: 0.66 yuan - 2027E: 0.90 yuan [1][8] Business Segment Performance - In 2024, the revenue breakdown by business segment is as follows: - Transformers: 450 million yuan (down 8.25%) - High and low voltage complete switchgear: 238 million yuan (up 8.39%) - Outdoor complete equipment: 242 million yuan (up 22.09%) - Other businesses: 373 million yuan (up 588.76%), primarily from the Huangshan subsidiary [7] - The gross profit margins for these segments are: - Transformers: 20.74% - High and low voltage complete switchgear: 21.18% - Outdoor complete equipment: 19.16% [7] Expense Management - The company has seen a slight decrease in various expense ratios in 2024: - Selling expense ratio: 3.17% (down 0.22 percentage points) - Management expense ratio: 3.94% (down 1.12 percentage points) - R&D expense ratio: 2.62% (down 0.90 percentage points) - Financial expense ratio: 1.26% (up 0.46 percentage points) [7]

Summary of Conference Call Records Industry Overview - The records primarily focus on the inverter, photovoltaic, and electrical equipment industries, with specific emphasis on the performance of companies like Sungrow Power Supply Co., Ltd. [1][4] Key Points and Arguments Sungrow Power's Performance - Sungrow Power's Q1 revenue reached 3.8 billion RMB, exceeding market expectations by 800 million RMB, driven by strong exports to the U.S. and Middle Eastern markets [2][4] - Despite the strong performance, a decline in year-on-year comparisons is expected in Q2 and Q3 due to high export ratios to the U.S. in the previous year, leading to potential short-term stock price volatility [1][4] Market Dynamics - The European inverter market is recovering after a destocking phase, with demand expected to increase starting in March [1][5] - Asian and African markets are showing stable growth, with March figures indicating a year-on-year increase of over 10% in Asia and 80% in Africa [2][5] - Southeast Asia and South Asia are experiencing worsening electricity shortages, which is likely to drive demand for solar storage systems [1][2] Export Data - In March, the export value of photovoltaic modules was approximately 2.4-2.5 billion RMB, showing a year-on-year decline due to delays caused by the Spring Festival [1][6] - The transformer export total for January to March was 12.5 billion RMB, a year-on-year increase of 40.2%, with large power grid transformers seeing a growth rate of 54.4% [3][10] - High-voltage switchgear exports in the same period reached 8.487 billion RMB, growing by 30% year-on-year [12] Future Outlook - Q2 is identified as a favorable investment window for the inverter and energy storage sectors, with many companies reporting good order conditions [1][8] - The export of electrical equipment is expected to maintain high levels of prosperity through March 2025, with transformers showing particularly strong performance in North America and Asia [9][14] Impact of Tariffs - U.S. tariffs have a limited impact on the profitability of electrical equipment like meters and high-voltage switches, but they affect market sentiment for export-oriented companies [15][16] - Companies with established global supply chains, such as Jinpan Technology and Igor, are less affected by U.S. tariffs due to their production facilities in Mexico and the U.S. [15] Investment Recommendations - Focus on non-U.S. export-oriented electrical equipment companies, such as Sifang Co., Ltd., Samsung Medical, and Huaming Equipment, as they are expected to benefit from the ongoing trade dynamics [17] - Companies linked to IDEC, particularly in the Southeast Asian data center sector, are also recommended for investment consideration [17] Additional Important Insights - The overall sentiment in the inverter and electrical equipment markets remains optimistic, with expectations of continued growth driven by both domestic and international demand [1][2][5] - Monitoring future export data, particularly for photovoltaic components, is crucial for assessing market potential [6][7]