Group 1 - The core viewpoint of the article highlights that Hengshang Energy (SH 603137) held its 13th meeting of the second board on October 28, 2025, to review governance system amendments [1] - For the year 2024, Hengshang Energy's revenue composition is reported as 99.68% from building curtain walls and window decoration, with other businesses contributing 0.32% [1] - As of the report date, Hengshang Energy has a market capitalization of 2.7 billion yuan [1] Group 2 - The article also notes that the A-share market has surpassed 4000 points, indicating a significant market resurgence after a decade of stagnation, with technology leading the market's transformation into a "slow bull" new pattern [1]

Group 1 - The company Hengshang Energy has won a bid for the first phase of the future industry research and manufacturing community project, specifically for the curtain wall engineering and auxiliary flood lighting project, with a bid amount of approximately 297 million yuan [1] - For the year 2024, the revenue composition of Hengshang Energy is projected to be 99.68% from building curtain walls, windows, and decorative works, while other businesses will account for 0.32% [1]

Core Viewpoint - Hengshang Energy announced the completion of a share reduction plan by shareholder Qian Lirong, who reduced holdings by approximately 3.95 million shares, accounting for about 2.16% of the company's total share capital [2] Group 1: Shareholder Activity - Qian Lirong executed the share reduction through centralized bidding and block trading methods [2] - The reduction period for this share sale has now concluded [2] Group 2: Financial Performance - For the year 2024, Hengshang Energy's revenue composition is as follows: 99.68% from building curtain walls, doors, and window decoration, while other businesses contribute 0.32% [2]