Core Viewpoint - The company expects to achieve a net profit attributable to shareholders of 40 million to 50 million yuan in 2025, marking a turnaround from losses, while the net profit after deducting non-recurring gains and losses is projected to be a loss of 4 million to 8 million yuan [1] Group 1: Financial Performance - The company has turned losses into profits during the reporting period, benefiting from its technological accumulation and industry experience in the variable frequency sector, as well as actively exploring downstream applications for special transformers [1] - The company has seized market opportunities in the energy storage industry, leading to a significant reduction in losses and a positive development trajectory for its energy storage business [1] - There were no significant asset impairment issues during the reporting period [1] Group 2: Technological Advancements - The company has overcome key technical challenges related to medium and high-frequency transformers, achieving compliance with stringent electrical standards for solid-state transformers (SST), DC transformers, and fast charging equipment [1] - The company is committed to driving long-term development through technological innovation, while consolidating existing business advantages and positioning itself at the forefront of industry technology [1] Group 3: Employee Incentives and Non-Recurring Gains - The company implemented an employee stock ownership plan and recognized share-based payment expenses of approximately 13.82 million yuan, which impacted the net profit attributable to shareholders by the same amount [2] - Non-recurring gains and losses are estimated to have a positive impact of approximately 44 million yuan on net profit, primarily from the disposal of subsidiary equity during the reporting period [2]

新特电气公告，预计2025年度净利润为4000万元至5000万元，上年同期亏损4851.16万元。报告期内， 公司业绩实现扭亏为盈，一方面受益于公司依托在变频领域的技术积累与行业经验，积极开拓变频用变 压器等特种变压器的下游应用市场，带动业务回温；另一方面受益于公司把握储能行业成长的市场机 遇，持续加强研发投入与市场开拓，储能业务步入良性发展轨道，亏损幅度显著收窄。 ...

Core Viewpoint - New Special Electric experienced a 2.16% increase in stock price on August 29, with a trading volume of 483 million yuan, indicating positive market sentiment towards the company [1]. Financing Summary - On August 29, New Special Electric had a financing buy-in amount of 77.78 million yuan and a financing repayment of 40.59 million yuan, resulting in a net financing buy-in of 37.20 million yuan [1]. - The total financing and securities balance for New Special Electric reached 168 million yuan, accounting for 2.89% of its circulating market value, which is above the 90th percentile level over the past year, indicating a high financing level [1]. - The company had no shares sold or repaid in the securities lending market on August 29, with a remaining securities lending balance of 1,562 yuan, which is above the 70th percentile level over the past year [1]. Business Performance - As of June 30, New Special Electric reported a total of 20,800 shareholders, a decrease of 1.05% from the previous period, while the average circulating shares per person increased by 40.29% to 10,487 shares [2]. - For the first half of 2025, New Special Electric achieved an operating income of 193 million yuan, representing a year-on-year growth of 16.10%, and a net profit attributable to shareholders of 5.33 million yuan, showing a significant year-on-year increase of 49,775.01% [2]. Dividend and Shareholding Information - Since its A-share listing, New Special Electric has distributed a total of 101 million yuan in dividends, with 51.13 million yuan distributed over the past three years [3]. - As of June 30, 2025, among the top ten circulating shareholders, the "Fuguo Optimized Enhanced Bond C" fund held 2.03 million shares, a decrease of 772,600 shares from the previous period, while "Fuguo Jiuli Steady Allocation Mixed A" fund has exited the top ten circulating shareholders list [3].