Core Viewpoint - The company, Kelun Electronics, confirmed that it does not currently have technology reserves related to solid-state transformer products, focusing instead on its existing smart grid and energy storage product lines [1]. Group 1: Smart Grid Business - The company's main products in the smart grid business include standard instruments, smart meters, electricity information collection systems, and both primary and secondary products and equipment for smart distribution networks [1]. Group 2: Energy Storage Business - The primary products in the energy storage business consist of energy-type storage systems, power-type storage systems, integrated commercial and industrial storage units, centralized storage systems, bidirectional inverters for storage, solar-storage integrated inverters, medium-voltage inverter systems, battery management systems (BMS), and energy management systems (EMS) [1].

Core Viewpoint - The company, Kelu Electronics (002121.SZ), currently does not engage in the production of solid-state transformer products, focusing instead on its smart grid and energy storage business lines [1] Group 1: Smart Grid Business - The company's main products in the smart grid sector include standard instruments, smart meters, electricity information collection systems, and both primary and secondary products and equipment for smart distribution networks [1] Group 2: Energy Storage Business - The energy storage products offered by the company consist of energy-type storage systems, power-type storage systems, integrated commercial and industrial storage units, centralized storage systems, bidirectional inverters for storage, solar-storage integrated inverters, medium-voltage inverter systems, battery management systems (BMS), and energy management systems (EMS) [1]

上市保荐书 兴业证券股份有限公司 关于 上能电气股份有限公司 之 上市保荐书 保荐机构（主承销商） （福州市湖东路 268 号） 二零二五年八月 保荐机构及保荐代表人声明 兴业证券股份有限公司（以下简称"兴业证券"、"保荐人"或"保荐机构"）及 其保荐代表人已根据《中华人民共和国公司法》（以下简称《公司法》）、《中 华人民共和国证券法》（以下简称《证券法》）等法律法规和中国证监会及深圳 证券交易所的有关规定，诚实守信，勤勉尽责，严格按照依法制定的业务规则和 行业自律规范出具上市保荐书，并保证所出具文件真实、准确、完整。 在本上市保荐书中，除上下文另有所指，释义与《上能电气股份有限公司 上市保荐书 目 录 六、保荐机构关于发行人是否已就本次证券发行上市履行了《公司法》《证券 七、保荐机构关于发行人是否符合板块定位及国家产业政策所作出的专业判断 上市保荐书 一、发行人基本情况 （一）发行人概况 发行人名称：上能电气股份有限公司 注册地址：江苏省无锡市惠山区和惠路 6 号 设立日期：2012 年 3 月 30 日 注册资本：35,803.8965 万元人民币 法定代表人：吴强 联系方式：0510-83691198 ...

证券日报网讯上能电气（300827）7月29日在互动平台回答投资者提问时表示，公司主营业务为电力电 子设备的研发、生产、销售。目前公司主要产品包括光伏逆变器(PVInverter)、储能双向变流器(PCS)以 及有源滤波器(APF)、低压无功补偿器(SVG)等产品，并提供光伏发电系统和储能系统的集成业务。 ...

Core Viewpoint - The company is issuing shares to specific investors to raise funds for expanding its production capacity in the photovoltaic and energy storage sectors, amidst a rapidly growing market and increasing competition. Group 1: Financial Performance - The company's net profit attributable to shareholders after non-recurring gains and losses was reported as 69.78 million, 275.75 million, 412.40 million, and 85.79 million yuan over the recent periods, indicating significant growth in profitability [2]. - The company's overseas revenue has shown a growth trend, with figures of 334.92 million, 689.67 million, 1.16288 billion, and 429.18 million yuan, representing respective proportions of 14.33%, 13.99%, 24.39%, and 51.76% of total revenue [3]. Group 2: Industry Context - The photovoltaic and energy storage industries are experiencing rapid development due to government policies supporting renewable energy, leading to increased competition as many domestic and international companies enter the market [2][3]. - The company operates in a sector characterized by technological and capital intensity, with significant funding requirements for business expansion [5]. Group 3: Risks and Challenges - The company faces performance volatility risks due to increasing competition in the photovoltaic and energy storage sectors, which may affect market share and profit margins [2]. - There are risks associated with potential changes in government policies that could impact the demand for photovoltaic and energy storage products, affecting the company's operational performance [3]. - The company has a significant amount of accounts receivable, totaling 2.32 billion yuan, which constitutes 37.67% of current assets, posing risks to cash flow if collection periods extend [5]. - The company is also exposed to risks related to high levels of inventory, which amounted to 1.70 billion yuan, representing 24.11% of current assets, potentially leading to write-downs if market conditions change [6]. Group 4: Future Plans and Investments - The company plans to use the raised funds for projects including the annual production of 25GW of string inverters and 15GW of energy storage inverters, which are expected to significantly enhance production capacity [8][10]. - The total amount to be raised is capped at 1.6486 billion yuan, with net proceeds allocated entirely to the specified projects [8][10].