1月7日，山大电力涨4.10%，成交额1.57亿元。两融数据显示，当日山大电力获融资买入额1341.37万 元，融资偿还1236.80万元，融资净买入104.57万元。截至1月7日，山大电力融资融券余额合计1.05亿 元。 机构持仓方面，截止2025年9月30日，山大电力十大流通股东中，香港中央结算有限公司位居第七大流 通股东，持股15.38万股，为新进股东。 责任编辑：小浪快报 资料显示，山东山大电力技术股份有限公司位于山东省济南历城区孙村街道飞跃大道以南、春晖路以东 山大电力产业园，成立日期2001年4月12日，上市日期2025年7月23日，公司主营业务涉及公司是一家致 力于电力系统相关智能产品技术研发与产业化的高新技术企业,基于在智能电网领域积累的电网监测技 术和电气系统设计及集成化能力,形成了电网智能监测和新能源两大业务板块,主要产品故障录波监测装 置、输电线路故障监测装置、时间同步装置处于细分行业领先地位。主营业务收入构成为：故障录波监 测装置63.61%，输电线路故障监测装置35.17%，其他(补充)1.22%。 截至9月30日，山大电力股东户数2.70万，较上期减少34.15%；人均流通股128 ...

在手订单保持稳定 2026年战略推进业务拓展 针对投资者关注的在手订单及2026年业绩规划，公司表示，截至目前电网智能监测和新能源两大核心业 务板块在手订单情况总体保持稳定。作为上市企业，公司已全面统筹未来发展战略与经营目标，将继续 稳步推进各项业务拓展。对于2026年具体业绩数据，公司提示投资者以后续发布的公告为准。 产品集中变电输电侧 二次设备市场增长空间广阔 关于产品在变输配电各环节的分布，公司介绍，当前电网智能监测产品主要集中在变电侧与输电侧，配 电侧占比相对较低。展望未来，随着国产化替代加速、存量市场更新迭代、增量市场扩容、特高压项目 密集建设及人工智能等新技术应用，电力系统对二次设备的需求将持续提升，二次设备投资占比有望进 一步加大，市场规模增长将更为迅速。公司将紧密围绕电网智能化与可靠性提升的核心需求，持续推进 产品技术升级与业务布局，把握结构性增长机遇以提升市场份额。 调研基本情况 2025年12月30日，山东山大电力技术股份有限公司（以下简称"山东山大电力"）以线下交流形式接待了 中信建投证券的特定对象调研。本次调研在济南市高新区孙村街道飞跃大道3916号山大电力会议室举 行，中信建投证券分 ...

12月19日，山大电力涨1.21%，成交额3648.05万元。两融数据显示，当日山大电力获融资买入额226.44 万元，融资偿还430.81万元，融资净买入-204.37万元。截至12月19日，山大电力融资融券余额合计1.06 亿元。 截至9月30日，山大电力股东户数2.70万，较上期减少34.15%；人均流通股1285股，较上期增加 51.85%。2025年1月-9月，山大电力实现营业收入4.59亿元，同比增长12.81%；归母净利润8732.16万 元，同比增长4.96%。 机构持仓方面，截止2025年9月30日，山大电力十大流通股东中，香港中央结算有限公司位居第七大流 通股东，持股15.38万股，为新进股东。 融资方面，山大电力当日融资买入226.44万元。当前融资余额1.06亿元，占流通市值的7.25%。 融券方面，山大电力12月19日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00 元；融券余量0.00股，融券余额0.00元。 资料显示，山东山大电力技术股份有限公司位于山东省济南历城区孙村街道飞跃大道以南、春晖路以东 山大电力产业园，成立日期2001年4月12日，上市日期2 ...

11月18日，山大电力跌1.60%，成交额8592.75万元。两融数据显示，当日山大电力获融资买入额862.76 万元，融资偿还656.32万元，融资净买入206.44万元。截至11月18日，山大电力融资融券余额合计1.18 亿元。 截至9月30日，山大电力股东户数2.70万，较上期减少34.15%；人均流通股1285股，较上期增加 51.85%。2025年1月-9月，山大电力实现营业收入4.59亿元；归母净利润8732.16万元，同比增长4.96%。 机构持仓方面，截止2025年9月30日，山大电力十大流通股东中，香港中央结算有限公司位居第七大流 通股东，持股15.38万股，为新进股东。 责任编辑：小浪快报 融资方面，山大电力当日融资买入862.76万元。当前融资余额1.18亿元，占流通市值的7.03%。 融券方面，山大电力11月18日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00 元；融券余量0.00股，融券余额0.00元。 资料显示，山东山大电力技术股份有限公司位于山东省济南历城区孙村街道飞跃大道以南、春晖路以东 山大电力产业园，成立日期2001年4月12日，上市日期2025 ...

Company Overview - Shandong University Power Technology Co., Ltd. focuses on power monitoring and has a strategic plan aligned with the national energy transition goals [1]. - The company’s products are primarily utilized in the power grid sector, with approximately 90% of revenue derived from substation and transmission products [2]. Market Opportunities - The "14th Five-Year Plan" period marks a transition towards better electricity usage and green energy, while the "15th Five-Year Plan" is critical for achieving carbon peak goals, presenting significant market opportunities for the power monitoring industry [1]. - The investment in smart and digital technologies by State Grid and Southern Grid is expected to enhance the demand for power monitoring equipment [1]. Competitive Landscape - Key competitors include Wuhan Zhongyuan Huadian Technology Co., Ltd., Shandong Kehui Power Automation Co., Ltd., and others in specific segments [2]. - The company maintains a competitive edge through continuous innovation in R&D, ensuring products meet market demands [3]. Customer Base and Service - The company has established long-term relationships with major clients such as State Grid and Southern Grid, which underscores the reliability and quality of its products [3]. - A nationwide service network with 17 contact offices enables rapid local support, enhancing customer satisfaction [4]. New Energy and Storage Business - Future plans for the new energy sector focus on integrated solutions for energy storage and charging stations, with a stable order backlog supporting growth [5][6]. - The energy storage business targets large-scale enterprises and aims to develop products that meet the requirements of the new power system [6]. Financial Outlook - The company anticipates stable order conditions across its two main business segments: power monitoring and new energy, providing a solid foundation for future growth [6]. - The management is optimistic about future performance, with strategic planning in place to drive business expansion [6].

Core Viewpoint - The control of Zhongyuan Co., Ltd. has changed hands again, with the new actual controllers being Zhu Shuangquan, Zhu Shunquan, and Zhu Mengqian, following a rapid process of only four days from announcement to completion of the transfer [1][2]. Group 1: Control Change Details - On October 30, 2023, a voting rights entrustment agreement was signed, allowing the new controllers to exercise the voting rights of 101 million shares, representing 25.63% of the total voting rights [2][3]. - The company plans to issue up to 61.35 million shares to the new controllers, raising a total of up to 500 million yuan, with the share price set at 8.15 yuan per share [3][4]. - After the issuance, the new controllers will collectively hold 26.68% of Zhongyuan's shares, solidifying their control over the company [3][4]. Group 2: Financial Performance - For the first three quarters of 2025, Zhongyuan reported revenue of 415 million yuan, an increase of 18.65% year-on-year, and a net profit attributable to shareholders of 113 million yuan, up 69.27% year-on-year [1][8]. - In the third quarter alone, the company achieved revenue of 178 million yuan, reflecting a year-on-year growth of 20.13%, and a net profit of 54 million yuan, which is a 60.21% increase compared to the same period last year [7][8]. Group 3: Strategic Intentions - The change in control is aimed at bringing in a new actual controller with strong financial capabilities to enhance the company's competitiveness and governance, promoting long-term sustainable development [8]. - The new controllers are expected to support the company's business development, ensuring a stable shareholding structure and reinforcing control over the company [3][4].

Core Viewpoint - The actual controller of Zhongyuan Co., Ltd. will change to Zhu Shuangquan, Zhu Shunquan, and Zhu Mengqian following a series of agreements and a private placement plan [2][3][4]. Group 1: Shareholder Changes - Before the change, Zhu Shuangquan and Zhu Shunquan did not hold any shares in Zhongyuan Co., while Zhu Mengqian held 23,900,000 shares, accounting for 4.92% of the total share capital [3]. - The previous actual controllers held a combined equity ratio of 20.71% in Zhongyuan Co. [3]. - The voting rights of 60,598,650 shares (12.49% of total shares) were irrevocably entrusted to Zhu Shuangquan, while 39,909,347 shares (8.22% of total shares) were entrusted to Zhu Shunquan [3][4]. Group 2: Issuance of New Shares - The company plans to issue up to 61,350,000 shares, not exceeding 30% of the total share capital before the issuance, with total fundraising (including issuance costs) not exceeding RMB 500,002,500 [4][5]. - Zhu Shuangquan and Zhu Shunquan will subscribe to the new shares at a price of RMB 8.15 per share, with a total subscription amount not exceeding RMB 500,002,500 [5]. Group 3: Control and Governance - After the issuance, Zhu Shuangquan, Zhu Shunquan, and Zhu Mengqian will collectively hold 85,250,000 shares, representing 15.59% of the total share capital post-issuance, and will control 145,848,650 voting rights, accounting for 26.68% of the total share capital [5][6]. - The issuance is seen as a significant move to support the company's business development and stabilize control, benefiting the long-term sustainable development of the company [6].

Core Viewpoint - The actual controller of Zhongyuan Co., Ltd. is planning to change the company's control rights, with a new agreement signed that transfers voting rights to Zhu Shuangquan and Zhu Shunquan, resulting in a new control structure [1][4]. Group 1: Control Rights Change - On October 30, the actual controller signed a voting rights entrustment agreement, transferring the voting rights of approximately 100 million shares to Zhu Shuangquan and Zhu Shunquan [1][4]. - Following the agreement, Zhu Shuangquan, Zhu Shunquan, and Zhu Mengqian collectively hold 25.63% of the voting rights, establishing them as the new actual controllers of the company [1][5]. - The company's stock will resume trading on November 3 after being suspended since October 27 [1]. Group 2: Financial Performance - For the first three quarters of 2023, Zhongyuan Co., Ltd. achieved a revenue of 415 million yuan, representing a year-on-year growth of 18.65% [7]. - The net profit attributable to shareholders for the same period was 113 million yuan, showing a significant year-on-year increase of 69.27% [7]. Group 3: Business Operations - The company specializes in the research, development, manufacturing, sales, and service of products related to intelligent power system recording analysis, time synchronization, distribution network automation equipment, and comprehensive automation systems [6]. - The main business operates on an "order-based production" model, acquiring orders primarily through bidding [6].

Core Viewpoint - The ownership change of Zhongyuan Co., Ltd. (300018) involves a sophisticated financial maneuver by the Zhu family, which includes strategic market entry, voting rights delegation, and a locked-price capital increase, benefiting all parties involved [1][2][8]. Group 1: Ownership Change Details - On October 30, the actual controllers of Zhongyuan Co., Ltd. signed a voting rights delegation agreement with Zhu Shuangquan and Zhu Shunquan, transferring the voting rights of approximately 100 million shares [2]. - Following the agreement, the voting rights held by Zhu Shuangquan, Zhu Shunquan, and Zhu Mengqian collectively amount to 25.63%, marking a change in the company's actual control [2]. - The voting rights delegation agreement allows Zhu Shuangquan and Zhu Shunquan to hold 20.71% of the voting rights after its effectiveness [6]. Group 2: Capital Increase and Financial Strategy - Zhongyuan Co., Ltd. plans to issue up to 61.35 million shares to Zhu Shuangquan and Zhu Shunquan, raising a total of no more than 500 million yuan, with a share price set at 8.15 yuan, which is 80% of the average trading price over the previous 20 trading days [5][7]. - The issuance aims to strengthen the company's control and ensure long-term stability in its equity structure, providing necessary funds for technological innovation and project investments [7]. - The stock price of Zhongyuan Co., Ltd. increased by approximately 30% in October, indicating positive market sentiment prior to the ownership change [7]. Group 3: Company Background and Market Position - Zhongyuan Co., Ltd. specializes in the research, manufacturing, sales, and service of products related to power system intelligent recording analysis, time synchronization, and distribution network automation [7]. - The company holds a leading position in its niche markets, particularly in power fault recording devices and time synchronization devices [7]. - The new controllers, Zhu Shuangquan and Zhu Shunquan, are also the actual controllers of Dinglong Co., Ltd. (300054), which has transitioned from printing consumables to a leading platform in semiconductor materials [8].

Core Viewpoint - Shandong Shanda Electric Power Technology Co., Ltd. has shown a decline in stock performance, with a drop of 1.99% on October 28, 2023, and a significant net financing outflow, indicating potential investor concerns about the company's financial health and market position [1][2]. Group 1: Company Overview - Shandong Shanda Electric Power was established on April 12, 2001, and is located in Jinan, Shandong Province. The company focuses on the research and development of intelligent products related to power systems and has two main business segments: smart grid monitoring technology and new energy [2]. - The company's main products include fault recording monitoring devices (63.61% of revenue) and transmission line fault monitoring devices (35.17%), positioning it as a leader in its niche market [2]. Group 2: Financial Performance - For the period from January to September 2025, Shanda Electric Power reported a revenue of 459 million yuan and a net profit attributable to shareholders of 87.32 million yuan, reflecting a year-on-year growth of 4.96% [2]. - As of September 30, 2025, the number of shareholders decreased by 34.15% to 27,000, while the average circulating shares per person increased by 51.85% to 1,285 shares [2]. Group 3: Market Activity - On October 28, 2023, the company experienced a financing buy-in of 11.15 million yuan, with a net financing outflow of 8.24 million yuan, indicating a potential lack of investor confidence [1]. - The total financing and securities balance for Shanda Electric Power stood at 113 million yuan, accounting for 6.60% of its market capitalization [1].