新联电子（002546）(002546.SZ)发布公告，公司近日收到国家电网有限公司及国网物资有限公司发来 的中标通知书，通知公司为"国家电网有限公司2025年第五十三批采购(营销项目第二次计量设备招标采 购)(招标编号：0711-25OTL08322016)"的中标单位，共中5个包，中标总金额为5577.56万元，占公司 2024年营业收入的7.28%。该项目中标后，合同履行将对公司经营业绩产生积极的影响。 ...

Core Viewpoint - The company, Mingyang Electric (301291), has developed a new type of digital, intelligent, and environmentally friendly power equipment called MyPower data center power module, tailored for the needs of data center clients and application scenarios [1] Company Summary - The MyPower data center power module is designed for large data centers and core machine rooms in the rapidly growing computing power industry [1] - The company encourages investors to pay attention to its regular reports and interim announcements for specific performance details [1]

Group 1: Company Overview - Baiyun Electric Group has transformed from a rural "blacksmith shop" into a leading enterprise in the domestic power equipment manufacturing sector, showcasing strong vitality in technological innovation and high-quality development [2][3] - The company has implemented a pragmatic innovation strategy, leading to significant technological breakthroughs in various projects, including a new type of distribution network demonstration project [2][3] Group 2: Technological Advancements - Baiyun Electric has developed a "light storage and flexible charging" project, achieving a photovoltaic conversion rate improvement of nearly 30% and establishing itself as an industry benchmark [2][3] - The company has integrated various new technologies, such as gel and matrix material systems, into its products, enhancing its capabilities in power electronics and direct connections to 10 kV power grids [2][3] Group 3: Industry Impact - Baiyun Electric has established a complete upstream and downstream industrial chain, contributing to the high-quality development of the power storage industry [4] - The company has received multiple awards, including the National Science and Technology Progress Award and the China Patent Award, reflecting its commitment to innovation and excellence [3][4] Group 4: Market Position and Future Plans - Baiyun Electric is actively expanding its influence by establishing innovation parks and collaborating with various enterprises to foster a synergistic development model [4] - The company aims to continue its focus on the power energy service sector, positioning itself as a national-level specialized technology enterprise [3][4]

Core Insights - The global power equipment demand is entering an upward cycle, with expectations for global grid investment to exceed 400 billion USD by 2025, indicating sustained high demand [1] - Artificial Intelligence (AI) is expected to significantly drive global electricity demand growth, leading to a notable increase in the demand for supporting electrical equipment [1] - Major overseas companies are raising their capital expenditure forecasts and increasing investments in AIDC infrastructure [1] Industry Trends - The demand for transformers in the US market continues to strengthen, with transformer price indices remaining high [1] - The Middle East is experiencing rapid growth in transformer demand, with Chinese companies securing large orders worth billions [1] - In the first half of 2025, leading companies are expected to see rapid growth in export business, benefiting from increased volume and profitability [1] Market Outlook - The global demand upcycle presents a golden opportunity for Chinese power equipment export companies, which are poised to continue benefiting from high demand and strong fundamentals [1] - The overseas business is becoming a key factor for success in the future for these companies [1]

Group 1 - The global power equipment demand is entering an upward cycle, with global grid investment expected to exceed $400 billion by 2025, indicating sustained high prosperity [2] - AI is projected to significantly drive global electricity demand growth, leading to a notable increase in the demand for supporting electrical equipment [5] - The U.S. transformer market demand continues to strengthen, with the transformer price index remaining high, driven by data center growth, renewable energy installations, and grid upgrades [8] Group 2 - The Middle East market is experiencing rapid growth, with Saudi Arabia aiming to achieve 130GW of installed power generation capacity by 2030, leading to substantial investments in transmission [10] - Chinese enterprises are capitalizing on the Middle East market, with transformer exports to Saudi Arabia reaching approximately $3 billion from January to August 2025, a year-on-year increase of over 200% [10] - The export business has become a key to future success for Chinese power equipment manufacturers, supported by high manufacturing standards and a complete industrial chain [12]

格隆汇9月22日丨万胜智能(300882.SZ)公布，国家电网有限公司于2025年9月19日在其电子商务平台公 告了"国家电网有限公司2025年第五十三批采购（营销项目第二次计量设备招标采购）推荐的中标候选 人公示"。浙江万胜智能科技股份有限公司为上述项目的中标候选人之一，根据预中标数量以及报价测 算，预计中标总金额约为6,798.2855万元。 ...

中国新能源企业正成为推动全球能源转型的关键力量。在中企将绿色技术带向世界的同时，如何进行风 险把控实现稳健经营？18日，在由上海仲裁委员会主办的"新能源出海：国际经营风险管控与争议解决 策略"研讨会上，与会嘉宾表示，了解国际市场的法律合规要求，提前布局并做好合规管控，是新能源 中企在全球市场行稳致远的关键。 根据《欧盟电池与废电池法规》规定，自2027年2月18日起，在欧盟市场投放或投入使用的轻型交通工 具电池、电动汽车电池，以及容量超过2kWh的工业电池，必须配备"电池护照"。维也纳国际仲裁中心 主席尼古拉斯·皮特考维茨（Nikolaus Pitkowitz）指出，该法规对在欧盟市场投入电池使用的经济运营商 造成了影响，包括制造商、进口商、分销商等；且法规复杂性高，许多细节有待次级立法进一步明确。 他表示，该法规的实施将推动企业进行全面的组织变革，以满足新的合规要求。企业需要在运营、技 术、供应链管理等多个方面进行调整。 地缘政治因素也是中企新能源出海进程中日益突出的风险来源。一家新能源企业法务负责人表示，美国 《通胀削减法案》（IRA）对中企造成了实质性影响，根据该法案中的"受关注外国实体"（FEOC）条 ...

Core Viewpoint - The company held an online performance briefing on September 19, 2025, where it discussed its financial results and future strategies with investors [1] Financial Performance - The company's incubation business revenue reached 194 million yuan, a year-on-year increase of 67.43% [1] - Other products, including vehicle power supplies and inductors, accounted for 7.84% of total revenue in the first half of 2025 [1] - Overall revenue grew by 20.16% year-on-year, despite significant increases in costs, including a 30.20% rise in R&D expenses and a 43.53% increase in sales expenses [1] Business Development - The company is focusing on the data center transformer market, expanding its product range from phase-shifting transformers to epoxy-encapsulated dry transformers and oil-immersed transformers [1] - The company has begun to expand its sales regions from domestic markets to overseas markets, including Japan [1] R&D and Product Development - The company is developing a 35KV/10MVA solid-state transformer prototype, with plans to send samples for testing in Q4 2025 [2] - The company aims to create more reliable and energy-efficient products and solutions for the data center business [2] Manufacturing and Capacity - The U.S. factory is gradually coming online, with a planned annual production capacity of 21,000 distribution transformers [2] - The Mexican facility has completed main construction and is set to produce new energy transformers with an annual capacity of 6,000 units [2] - The domestic facility in Jizhou, Jiangxi, has been completed and is operating at a good capacity utilization rate [2] Market Outlook - The company acknowledges a decline in gross margin due to falling product prices and rising raw material costs, but it reported a 3.28% increase in gross margin from Q1 to Q2 2025 [2] - The company plans to invest more resources in expanding its power supply business in Panama and believes that the growing global electricity demand presents opportunities for the power equipment manufacturing industry [2]

近年来，作为资本市场服务实体经济的重要力量，深圳证券交易所市场（以下简称"深市"）电力设备领 域龙头企业坚持创新，在风电、光伏、储能等赛道上持续攻坚。 从自主研发磷酸锰铁锂材料，实现电池能量密度与低温性能的双重突破；到打通固态电池量产核心工 艺，破解行业长期面临的续航里程与安全性能难以兼顾的瓶颈；再到紧跟新型电力系统建设需求，推出 覆盖源网荷储的一体化综合解决方案——一系列硬核实践，让深市电力设备领域龙头企业成为"双碳"目 标从蓝图走向现实的中坚推动者。 在这一进程中，资本市场通过多元化融资工具为相关企业注入发展动能：一方面，依托IPO、增发、可 转债等融资渠道，为企业技术研发提供充足资金支持，加速前沿技术从实验室走向产业化；另一方面， 借助并购重组、产业基金等资本运作方式，推动企业整合产业链上下游资源，完善从核心材料到终端解 决方案的产业布局。正是得益于资本市场的全方位赋能，这些企业得以实现关键技术自主可控与产业链 自主可控，进一步夯实了我国构建"清洁低碳、安全高效"现代能源体系的产业根基。 多措并举 为能源转型"添砖加瓦" 近年来，在我国加速构建清洁低碳、安全高效现代能源体系，推动"双碳"目标落地的进程中 ...

Group 1 - The "Fuwan Lake Energy Power Equipment Industrial Park" promotion conference was held in Gaoming District, aiming to attract investment and promote the innovative development of the new power system industry [1] - The industrial park covers an area of approximately 18,800 acres, with over 3,000 acres available for immediate development and a potential expansion of over 5,000 acres in the future [2] - Gaoming District has gathered over 100 enterprises in the power industry, including major companies like Anheng Intelligent and Foshan Lighting, and has recently introduced projects such as Beikong Independent Energy Storage [2][3] Group 2 - The collaboration between Foshan and Wenzhou is highlighted, as both regions focus on developing the new power system industry and have a strong private economy [3] - The district has attracted over 7 billion yuan in project investments, successfully bringing in companies like Aowen Electric and Chenrui Intelligent [3] - The industrial park's upstream advantages include a complete industrial chain for raw materials, while the downstream applications present vast market opportunities [4] Group 3 - Gaoming District is actively implementing a three-year action plan to build a new power system equipment industrial cluster, with the Fuwan Lake Energy Power Equipment Industrial Park as the core [5] - The demand for power equipment in Gaoming is projected to exceed 300 scenarios, providing a solid foundation for the development of the new power system equipment industry [5] - An accelerator for the industrial park was launched to support technology reserves and application scenarios for energy power enterprises, promoting the transformation of scientific and technological achievements [6]