Core Viewpoint - Dali Pu Holdings (01921.HK) has officially launched a new "High-end Energy Equipment Pipe Intelligent Production Line" at its production base in Cangzhou, Hebei, China, on November 8, 2025, which is expected to enhance production efficiency and optimize cost structures [1] Group 1: Production Efficiency and Cost Structure - The new production line utilizes full-process automation and intelligent systems to achieve large-scale and efficient output [1] - The intelligent transformation is expected to lower unit production costs, thereby enhancing profitability [1] Group 2: Product and Quality Improvement - The product range has been expanded to cover various oil pipe specifications, including high-pressure boiler pipes and high-end mechanical pipes [1] - A digital control system has been implemented to significantly improve product consistency and reliability, strengthening market competitiveness [1] Group 3: Strategic Support for Projects - The production line will provide a solid technological and practical foundation for the "Dali Pu High-end Energy Equipment Project" being advanced in Saudi Arabia [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Dalipal Holdings Limited – 1 – • 生產效率顯著提升－依 託 全 流 程 自 動 化 與 智 能 系 統 協 同，實 現 規 模 化 高 效 產 出； • 綜合成本結構優化－通 過 智 能 化 改 造 降 低 單 位 生 產 成 本，增 強 盈 利 能 力； 達力普控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1921） 自願性公告 全 新「高 端 能 源 裝 備 用 管 智 能 生 產 綫」正 式 投 產 本公告由達力普控股有限公司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）自 願 作 出。 本集團董事（「董 事」）會（「董事會」）欣 然 宣 布，本 集 團 於 中 國 河 北 滄 州 生 產 基 地 建設的全新「高 端 能 源 裝 備 用 管 智 能 生 ...

Core Viewpoint - The event marks the 30th anniversary of Dongfang Electric's listing and aims to enhance communication with the capital market while showcasing the company's operational achievements and strategic direction [3]. Group 1: Company Overview - Dongfang Electric emphasizes the importance of communication with the capital market and aims to improve investor relations management [3]. - The company is committed to a stable yet progressive operational approach, focusing on high-end, intelligent, and green industrial upgrades [3]. Group 2: Financial Performance - For the first three quarters of 2025, Dongfang Electric reported total revenue of 55.522 billion yuan, representing a year-on-year increase of 16.03% [4]. - The net profit attributable to shareholders for the same period was 2.966 billion yuan, reflecting a year-on-year growth of 13.02% [4]. Group 3: Strategic Initiatives - The company plans to strengthen its core functions and competitiveness while advancing its industrial transformation [4]. - Dongfang Electric aims to develop strategic emerging industries such as wind, solar, hydrogen storage, and power electronics, while also enhancing digital transformation in energy equipment manufacturing [3][4].

Core Insights - The company reported a revenue of 54.744 billion yuan for Q1-Q3 2025, representing a year-on-year increase of 16.41% [1] - The net profit attributable to shareholders for the same period was 2.966 billion yuan, up 13.02% year-on-year [1] - The company has a strong order backlog, with new effective orders amounting to 88.583 billion yuan, a year-on-year increase of 16.78% [2] Financial Performance - Q1-Q3 2025 revenue: 54.744 billion yuan, +16.41% YoY [1] - Q1-Q3 2025 net profit: 2.966 billion yuan, +13.02% YoY [1] - Q3 2025 revenue: 17.12 billion yuan, +21.45% YoY [1] - Q3 2025 net profit: 1.057 billion yuan, +13.22% YoY [1] - Sales expenses decreased by 52.22% to 500 million yuan [1] - R&D expenses increased by 11.62% to 2.228 billion yuan [1] Order and Inventory Insights - New effective orders for Q1-Q3 2025: 88.583 billion yuan, +16.78% YoY [2] - Breakdown of new orders: - Clean and efficient energy equipment: 32.652 billion yuan, -0.36% YoY [2] - Renewable energy equipment: 26.920 billion yuan, +22.49% YoY [2] - Engineering and international supply chain: 9.726 billion yuan, +8.92% YoY [2] - Modern manufacturing services: 7.857 billion yuan, +13.24% YoY [2] - Emerging growth industries: 11.427 billion yuan, +7.36% YoY [2] - Inventory increased by 52.06% YoY [2] - Contract assets increased by 17.98% YoY [2] - Contract liabilities increased by 17.16% YoY [2] Technological Advancements - The company has made significant breakthroughs in domestic energy equipment, including the successful operation of the G50 gas turbine [3] - Participation in key equipment development for nuclear fusion, including the delivery of components for the ITER project [3] - Successful grid connection of a 26MW offshore wind turbine [3] - Acceptance of core components for a 500MW hydropower unit [3] Investment Outlook - The company is expected to achieve net profits of 4.081 billion yuan, 4.876 billion yuan, and 5.409 billion yuan for 2025-2027, reflecting growth rates of 39.6%, 19.5%, and 10.9% respectively [3]

Core Viewpoint - The company has been dedicated to the research of key thermal equipment and systems, particularly molten salt storage and steam generation systems, since 2010, showcasing its commitment to innovation in energy technology [1] Group 1: Technology Development - The company has developed a large-capacity molten salt heat absorber and steam generation system suitable for solar thermal and storage systems, which has been recognized as the first major technological equipment in the national energy sector [1] - The molten salt energy storage technology is a significant competitive advantage for the company, enabling applications in solar thermal power generation, user-side energy storage, flexible transformation of thermal power, and zero-carbon parks [1] Group 2: Project Experience - The company has accumulated extensive experience in the construction and operation of molten salt energy storage projects, indicating a strong operational capability in this field [1] Group 3: Future Opportunities - The company is focusing on the application layout of third-generation and fourth-generation nuclear reactors, particularly in thorium-based molten salt reactors, which are seen as a core path for fourth-generation nuclear technology [1] - The company aims to leverage its technological advantages to participate in future demonstration projects and commercialization opportunities related to thorium-based molten salt reactors [1]

Core Insights - Sichuan Chuanrun Co., Ltd. and Siemens (China) Co., Ltd. signed a strategic cooperation agreement during the 8th China International Import Expo, focusing on AI computing power, data centers, zero-carbon energy solutions, and industrial AI integration to promote high-quality development in the green digital industry [1][2] Group 1: Strategic Cooperation Focus - The collaboration will leverage the explosive growth in global AI computing power demand and the acceleration of zero-carbon energy initiatives under the "dual carbon" goals, aligning with current market development directions [2] - The partnership aims to create high-performance, low Power Usage Effectiveness (PUE) green computing solutions and replicable zero-carbon benchmark projects, enhancing economic solutions for the industry [2][3] Group 2: Three Key Areas of Cooperation - The first focus area is green computing infrastructure, where Chuanrun will utilize its liquid cooling technology (with a PUE as low as 1.05 and reliability of 5000 insertions without leakage) combined with Siemens' smart microgrid and AI algorithms to address high energy consumption in AI data centers [3] - The second area involves the large-scale implementation of zero-carbon parks, integrating Chuanrun's energy power system capabilities with Siemens' energy carbon management platform to create efficient and energy-saving zero-carbon park models [3] - The third area is AI innovation applications, where both companies will establish a joint laboratory for smart microgrids and zero-carbon technologies to develop predictive maintenance and carbon management services, tapping into the digital market potential [3] Group 3: Long-term Value Enhancement - Siemens' Digital Empowerment Center manager expressed enthusiasm for collaborating with Chuanrun, highlighting the impressive potential and speed of the Chinese market in green computing and zero-carbon energy transition [4] - Chuanrun's president noted that the partnership will accelerate the company's strategic upgrade in green energy equipment and digital services, aiming to create a first-mover advantage in emerging sectors like AI computing liquid cooling and green energy [4] - The collaboration is expected to strengthen Chuanrun's position in high-end energy equipment and provide a certain momentum for long-term growth through joint technological innovations and benchmark project implementations [4]

三角防务(300775.SZ)公告，公司与西门子能源公司、西门子能源加拿大有限公司(简称"西门子能源")签 署了《燃机项目开发协议》及《框架订单协议》。开发协议的主要内容为使公司获得为西门子能源供应 特定物项的资格，并规定了资格认证的技术前提、流程及标准。框架订单协议主要内容为公司须按照采 购订单、工作说明书及图纸等文件要求，交付相应产品及工装，并确保其质量符合标准。 ...

Core Viewpoint - The company is actively exploring potential business opportunities and expanding its overseas market presence, with significant growth expected in foreign trade by the first half of 2025 [1] Group 1: Business Development - The company has achieved certification from the global supply chain systems of several international enterprises, including Rolls-Royce (UK), GE Aviation (USA), Mitsubishi Electric (Japan), Siemens (Germany), Baker Hughes (USA), Hitachi (Japan), and Orano (France), enhancing its brand recognition and market influence [1] - A strategic cooperation agreement has been signed with Siemens Energy, further strengthening the company's position in the overseas gas turbine market [1] Group 2: Market Presence - The company made its debut at the Paris Air Show, which is expected to further elevate its global brand influence [1]

Core Insights - The company reported a revenue of 4.746 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 26.93%, with a net profit attributable to shareholders of 11.1964 million yuan [1] Group 1: Business Overview - The company has been a pioneer in the petrochemical equipment manufacturing sector since its establishment in 1953, focusing on energy equipment manufacturing across traditional energy, new energy, industrial intelligent equipment, and energy conservation and environmental protection [1] - The company is strategically expanding its new energy equipment industry chain in response to the new energy revolution and "dual carbon" opportunities [1] Group 2: Hydrogen Energy Development - The company has developed a full industrial chain of core technologies and equipment for green hydrogen production, storage, transportation, and utilization [1] - In 2023, the company completed the first integrated demonstration project for green hydrogen in Gansu Province and signed an international order for PEM electrolyzer equipment, marking a significant step in its international development [1] Group 3: Nuclear Energy Sector - The company has established a comprehensive supply chain in the nuclear equipment sector, covering everything from upstream nuclear-grade materials to downstream nuclear environmental protection equipment [2] - In the first half of 2023, the company received orders worth 306 million yuan in the nuclear energy sector, a year-on-year increase of 32.16%, and successfully exported core equipment overseas [2] - The company is enhancing its production capacity in Qingdao to strengthen its manufacturing capabilities for high-end nuclear power equipment [2] Group 4: Research and Development - The company increased its R&D expenses by 65.67% year-on-year, focusing on core areas for technological breakthroughs and accelerating the application of research results [3] - The company achieved significant milestones, including the successful manufacturing of the first domestic low-pressure separator for LDPE/EVA tubular devices, breaking foreign technology monopolies [3] - Several projects have been approved for the 2025 provincial science and technology plan, and one project won the first prize in the Gansu Provincial Science and Technology Progress Award [3]

Core Insights - Lanzhou Lanshi Heavy Equipment Co., Ltd. signed a contract with China Nuclear Engineering Co., Ltd. worth 581 million yuan (including tax) to provide main process equipment for nuclear energy projects, marking a significant breakthrough in the nuclear energy sector [1] - The contract is expected to support the company's operational performance from 2025 onwards, enhancing its market share and core competitiveness in the nuclear energy field [1] Company Overview - Founded in 1953, Lanzhou Lanshi Heavy Equipment has been a pioneer in the petrochemical equipment manufacturing sector, with a focus on energy equipment across traditional and renewable energy, industrial intelligent equipment, and energy conservation [2] - The company has a comprehensive nuclear energy product range covering upstream nuclear-grade materials, nuclear fuel equipment, midstream nuclear power plant equipment, and downstream spent fuel recycling and nuclear environmental protection equipment [2] - The company has seen a continuous increase in nuclear energy orders, with a 32.16% year-on-year growth in new orders amounting to 306 million yuan in the first half of the year [2] Strategic Developments - The company is investing in enhancing its nuclear power equipment production capacity through the establishment of new heavy-duty workshops and the installation of advanced core equipment [2] - The company aims to leverage favorable policies in the nuclear energy market to deepen its development in the third-generation nuclear power equipment market and accelerate the exploration of fourth-generation nuclear equipment and spent fuel processing [3]