2026年1月6日，远东智慧能源股份有限公司（以下简称"远东股份"）发布关于子公司中标项目的提示性 公告。2025年12月份，该公司收到子公司中标/签约千万元以上合同订单，合计约为30.7亿元。 随着国内外新能源、新型电力系统及智能制造等领域需求集中释放，远东股份凭借其多元化的产品矩阵 与前瞻性的市场布局，正在收获新一轮发展红利。远东股份表示，公司为智能缆网、智能电池、智慧机 场龙头企业，上述合同订单将对公司未来经营业绩产生积极影响。 远东股份相关负责人向《证券日报》记者表示，公司大额订单的签订是行业需求放量、产品竞争力提 升、市场布局深化三重因素共振的结果。 加速市场拓展 远东股份成立于1985年，致力成为全球领先的智慧能源、智慧城市服务商。从核聚变实验装置到各地绿 色建筑，从电力能源到AI、算力、机器人，这家以"智能缆网、智能电池、智慧机场"三大业务为支柱的 企业，正在新兴产业与传统制造交叉领域加速拓展市场份额。 该公司订单结构正呈现多元化发展态势。 智能电网线缆业务在2025年12月份获得订单总额约7.06亿元，包括与国家电网及各地电网公司的合作。 同时，其他战略客户订单总额达23.63亿元，覆盖清洁能 ...

智能电池业务1-12月累计中标/签约千万元以上合同订单为34.56亿元，同比增长37.86%；12月中标/签约 千万元以上合同订单为9.11亿元，同比增长555.71%，环比增长65.24%。 智慧机场业务1-12月累计中标/签约千万元以上合同订单为26.67亿元，同比增长3.38%；12月中标/签约 千万元以上合同订单为4.29亿元，环比增长154.48%。 1月5日，远东股份（600869）发布公告称，2025年12月，公司收到子公司中标/签约千万元以上合同订 单合计为人民币30.69亿元，同比增长119.31%，环比增长28.81%。1-12月，公司收到子公司中标/签约千 万元以上合同订单合计为281.38亿元，同比增长14.42%，创历史新高。 智能缆网业务1-12月累计中标/签约千万元以上合同订单为220.15亿元，同比增长12.86%；12月中标/签 约千万元以上合同订单为17.29亿元，同比增长37.17%，环比增长3.99%。 ...

1月5日晚间，远东股份（600869）发布公告称，2025年12月，公司收到子公司中标/签约千万元以上合 同订单合计为人民币30.69亿元，同比增长119.31%，环比增长28.81%。1—12月，公司收到子公司中标/ 签约千万元以上合同订单合计为281.38亿元，同比增长14.42%，创历史新高。 智能缆网业务1—12月累计中标/签约千万元以上合同订单为220.15亿元，同比增长12.86%；12月中标/签 约千万元以上合同订单为17.29亿元，同比增长37.17%，环比增长3.99%；智能电池业务1—12月累计中 标/签约千万元以上合同订单为34.56亿元，同比增长37.86%；12月中标/签约千万元以上合同订单为9.11 亿元，同比增长555.71%，环比增长65.24%；智慧机场业务1—12月累计中标/签约千万元以上合同订单 为26.67亿元，同比增长3.38%；12月中标/签约千万元以上合同订单为4.29亿元，环比增长154.48%。(秦 声) ...

公司为智能缆网、智能电池、智慧机场龙头/领跑企业，上述合同订单将对公司未来经营业绩产生积极 影响，但不影响公司业务独立性。 格隆汇1月5日丨远东股份(600869.SH)公布，2025年12月份，公司收到子公司中标/签约千万元以上合同 订单合计为人民币30.69亿元。 ...

远东强势登榜 25中国能源企业500 20 运东控股集团 远东股份 股票代码:600869 近日，由中国能源报与中国能源经济研究院联合发布了"中国能源企业500强" 榜单。 2024年，全球能源市场呈现供需宽松态势，原油、动力煤价格随市场供给过剩同步下滑，传统能源价格中枢持续下移。国内层面，鼓励民间投资政策密集 落地，能源领域市场准入进一步放宽，核电、储能、油气支线等重点领域对民企开放力度显著加大，市场活力持续释放。新能源产业面临结构性分化，部 分领域前期盲目扩张导致产能过剩，低价恶性竞争问题日益凸显。电力行业凭借需求端稳步增长与供给侧结构优化形成共振，实现稳健发展。传统能源领 域"增储上产"成效显著，能源安全保障能力持续提升，但受绿色转型加速和市场需求结构变化影响，转型压力进一步增大。 中国能源企业500强（以下简称"500强"）作为能源产业核心力量，是保障安全、推动转型、拉动增长的中坚力量。本报告基于2024年中国能源企业营业收 入等数据，聚焦其规模实力、资本格局、行业发展、区域分布等角度，为产业高质量发展提供参考。 2024年，全球能源市场呈现供需宽松态势，原油、动力煤价格随市场供给过剩同步下滑，传统能 ...

Core Viewpoint - Far East Smart Energy Co., Ltd. reported significant growth in contract orders for November 2025, with a total of 2.383 billion yuan, marking a year-on-year increase of 33.04% and a quarter-on-quarter increase of 124.38% [1] Group 1: Overall Performance - The company received contracts exceeding 10 million yuan totaling 2.383 billion yuan in November 2025, showing strong growth in all major business segments [1] - Year-on-year growth for the total contract orders was 33.04%, while quarter-on-quarter growth was 124.38% [1] Group 2: Business Segment Performance - In the smart cable network segment, contracts exceeding 10 million yuan amounted to 1.663 billion yuan, reflecting a year-on-year increase of 3.52% and a quarter-on-quarter increase of 93.44% [1] - In the smart battery segment, contracts exceeding 10 million yuan reached 552 million yuan, demonstrating a remarkable year-on-year increase of 975.06% and a quarter-on-quarter increase of 356.36% [1] - In the smart airport segment, contracts exceeding 10 million yuan totaled 168 million yuan, with a year-on-year increase of 26.13% and a quarter-on-quarter increase of 106.56% [1]

Core Viewpoint - The company is focusing on the integration of "electricity + computing power + AI" to drive sustainable growth in its three main business areas, supported by a robust industrial foundation in the power energy sector over the past 40 years [1][2]. Group 1: Business Performance - In the first half of 2025, the company achieved operating revenue of 12.976 billion yuan, a year-on-year increase of 14.38%, with the second quarter reaching 8.102 billion yuan, a quarter-on-quarter growth of 66.24% [1]. - The net profit attributable to shareholders in the first half of 2025 was 144 million yuan, up 210.60% year-on-year, with the second quarter contributing 98 million yuan, a quarter-on-quarter increase of 112.41% [1]. - The net cash flow from operating activities was 433 million yuan, reflecting a year-on-year growth of 220.68%, indicating strong operational cash generation [1]. Group 2: Market Expansion - The company is aggressively expanding into emerging markets in artificial intelligence, computing power, and robotics, with a significant revenue contribution of 487 million yuan in these sectors, representing a year-on-year increase of 204.61% and a quarter-on-quarter growth of 377.25% [2]. - The dual-dimensional layout of "power supply foundation + equipment empowerment" is being established through accelerated development in liquid cooling technology, high-speed connectors, and AI servers, among others [2]. Group 3: Client Engagement - The company has supported over 200 large data centers, including those for China Telecom and Alibaba Cloud, establishing a comprehensive support system [3]. - It has secured supplier codes from leading global AI chip companies, enabling bulk supply of power cables and vehicle-mounted cables, while continuously advancing the supply of high-speed copper cables and liquid cooling plates [3]. - The company aims to expand its market presence by connecting with more high-quality domestic and international clients as product iterations and demand grow [3]. Group 4: Profit Forecast - Revenue projections for the company are estimated to reach 29.538 billion yuan in 2025, 33.291 billion yuan in 2026, and 36.170 billion yuan in 2027, with year-on-year growth rates of 13%, 13%, and 9% respectively [4]. - The net profit attributable to shareholders is forecasted to be 291 million yuan in 2025, 529 million yuan in 2026, and 903 million yuan in 2027 [4]. - Based on comparable companies, the target price is set at 10.56 yuan, with an initial coverage rating of "buy" [4].

Group 1 - The company provided a guarantee of RMB 20,000 million for its subsidiary, Far East Cable Co., Ltd., to support its credit services from China Merchants Bank [1][3] - The total guarantee limit approved for the subsidiary is RMB 520,000 million, which was discussed in the board meeting and the annual shareholders' meeting [1][4] - The guarantee is considered a normal business practice and will not affect the company's ongoing operational capabilities or harm the interests of shareholders [4][5] Group 2 - The total amount of guarantees provided by the company is RMB 1,066,601.61 million, with an actual guarantee balance of RMB 752,901.79 million, representing 249.47% and 176.10% of the company's net assets, respectively [5] - The company has not experienced any overdue guarantees, and there are no guarantees provided for controlling shareholders or related parties [5] Group 3 - In October 2025, the company received contracts worth a total of RMB 106,185.26 million from its subsidiaries, which will positively impact future operating performance [6][7] - The company is recognized as a leading enterprise in smart cable networks, smart batteries, and smart airports, indicating strong market positioning [7]

Core Insights - The company reported a total of 10.62 billion RMB in contracts signed or won in October 2025, contributing to a total of 226.86 billion RMB for the period from January to October, marking a year-on-year growth of 6% and setting a historical record [1] Group 1: Business Segments Performance - The smart cable network business achieved a total of 186.24 billion RMB in contracts from January to October, reflecting a year-on-year increase of 11.92%, with 8.59 billion RMB in contracts signed in October [1] - The smart battery business recorded 19.93 billion RMB in contracts from January to October, with 1.21 billion RMB in contracts signed in October [1] - The smart airport business secured 20.70 billion RMB in contracts from January to October, with October contracts amounting to 0.82 billion RMB, showing a year-on-year growth of 21.19% and a month-on-month increase of 205.82% [1]

Core Insights - Traditional manufacturing leaders are leveraging technology and strategic transformation to navigate intense market competition [1] Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 20.209 billion yuan, a year-on-year increase of 10.91%, and a net profit attributable to shareholders of 168 million yuan, up 268.86% [1] - The operating cash flow net amount reached 4.92 billion yuan, reflecting a year-on-year growth of 330.80%, with an expense ratio of 8.66%, down 1.48 percentage points [1] - Revenue per capita increased by 17.72% to 2.5797 million yuan [1] Main Business Segments - The three main business segments—intelligent cable networks, intelligent batteries, and smart airports—showed steady growth, forming the company's performance foundation [2] - Intelligent cable network revenue was 17.826 billion yuan, up 9.59%, with a net profit of 315 million yuan, a growth of 8.69% [2] - Intelligent battery revenue reached 1.039 billion yuan, a year-on-year increase of 30.92%, while net losses narrowed to 256 million yuan [2] - Smart airport revenue was 1.267 billion yuan, growing 15.75%, with a net profit of 111 million yuan, up 47.88% [3] Emerging Business Growth - The company made significant progress in emerging business areas, achieving revenue of 713 million yuan in AI, computing power, and robotics, a year-on-year increase of 139.52% [4] - The company has participated in over 40 computing center projects, collaborating with leading firms in AI chip technology [4] - In the robotics sector, partnerships with companies like UBTECH and Zhiyuan are advancing the industrialization of humanoid robots [5] Strategic Initiatives - The company is actively involved in projects related to controlled nuclear fusion and has collaborated with top research institutions to advance superconducting materials and cables [5] - The demand for high-performance cables in AI data centers and robotics is expected to drive market growth, with a focus on specialized cables that meet specific technical requirements [6]