Group 1 - The core point of the article is that Pinggao Electric (SH 600312) announced the establishment of a wholly-owned subsidiary, Pinggao Electric (Henan) Power Equipment Technology Co., Ltd., during a board meeting held on September 10, 2025 [1] - For the year 2024, the revenue composition of Pinggao Electric is reported to be 99.25% from the power transmission and transformation equipment manufacturing industry, with other businesses contributing 0.75% [1] - As of the time of reporting, the market capitalization of Pinggao Electric is 20.7 billion yuan [1]

Group 1 - The core point of the article is that Pinggao Electric (SH 600312) held its ninth board meeting on August 19, 2025, to review the 2025 semi-annual report and its summary [1] - For the year 2024, the revenue composition of Pinggao Electric is 99.25% from the power transmission and transformation equipment manufacturing industry and 0.75% from other businesses [1] - As of the time of reporting, the market capitalization of Pinggao Electric is 22.2 billion yuan [1]