Group 1 - Ankerui Electric Co., Ltd. experienced a 5% increase in stock price, reaching 28.54 CNY per share, with a trading volume of 156 million CNY and a turnover rate of 2.63%, resulting in a total market capitalization of 7.157 billion CNY [1] - The company, established on June 23, 2003, and listed on January 13, 2012, specializes in the research, production, sales, and service of equipment and systems required for energy efficiency management in medium and low voltage microgrid enterprises [1] - The main revenue composition of Ankerui includes: 41.94% from power monitoring and substation comprehensive monitoring systems, 32.41% from energy efficiency management products and systems, 11.68% from power sensors, 7.58% from fire safety and electrical safety products, 5.89% from other microgrid services, and 0.49% from other sources [1] Group 2 - According to data, one fund under Huatai PineBridge holds Ankerui as a top ten heavy stock, with Huatai Minying New Power Stock Fund (001541) holding 439,300 shares, representing 2.05% of the fund's net value, ranking as the tenth largest holding [2] - The Huatai Minying New Power Stock Fund, established on August 7, 2015, has a current size of 529 million CNY, with a year-to-date return of 7.13%, ranking 2065 out of 5579 in its category; over the past year, it achieved a return of 50.6%, ranking 1308 out of 4225 [2] - The fund manager, Bian Zheng, has been in position for 3 years and 334 days, with the total asset size of the fund at 1.172 billion CNY, achieving the best return of 44.7% and the worst return of 11.74% during his tenure [2]

Core Viewpoint - Ankerui Electric Co., Ltd. has shown a mixed performance in stock price and financial metrics, with a notable increase in revenue and net profit year-on-year, while facing fluctuations in stock trading activity and market sentiment [1][2]. Group 1: Stock Performance - As of November 13, Ankerui's stock price increased by 2.13% to 25.95 CNY per share, with a trading volume of 1.33 billion CNY and a turnover rate of 2.45%, resulting in a total market capitalization of 6.508 billion CNY [1]. - Year-to-date, Ankerui's stock price has risen by 28.78%, but it has decreased by 2.48% over the last five trading days, with a 0.97% increase over the last 20 days and a 13.91% increase over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Ankerui achieved a revenue of 837 million CNY, representing a year-on-year growth of 2.59%, while the net profit attributable to shareholders was 192 million CNY, reflecting a year-on-year increase of 21.31% [2]. - Cumulative cash dividends since Ankerui's A-share listing amount to 572 million CNY, with 229 million CNY distributed over the past three years [3]. Group 3: Shareholder and Ownership Structure - As of September 30, 2025, the number of Ankerui's shareholders increased by 9.62% to 15,100, while the average circulating shares per person decreased by 8.77% to 11,610 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the seventh largest with 2.2296 million shares, marking its entry as a new shareholder, while the Noan Pioneer Mixed A fund has exited the top ten list [3]. Group 4: Business Overview - Ankerui Electric Co., Ltd. specializes in the research, production, sales, and service of equipment and systems required for energy efficiency management in medium and low voltage microgrids, with its main business revenue composition being: 41.94% from power monitoring and substation comprehensive monitoring systems, 32.41% from energy efficiency management products and systems, 11.68% from power sensors, 7.58% from fire and electrical safety products, 5.89% from other microgrid services, and 0.49% from other sources [1]. - The company is classified under the Shenwan industry as part of the electric equipment sector, specifically in grid equipment and electrical instruments, and is involved in concepts such as virtual power plants, power IoT, energy interconnection, solar energy, and smart grids [1].

Core Viewpoint - Anke Rui Electric Co., Ltd. has shown a positive stock performance with a year-to-date increase of 25.70% and a recent rise in share price, indicating strong market interest and potential growth in the energy management sector [1][2]. Financial Performance - For the first half of 2025, Anke Rui achieved a revenue of 539 million yuan, reflecting a year-on-year growth of 1.54%, while the net profit attributable to shareholders increased by 24.83% to 126 million yuan [2]. - Cumulative cash dividends since the A-share listing amount to 572 million yuan, with 229 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased by 2.39% to 13,800, with an average of 12,727 circulating shares per shareholder, a decrease of 2.31% [2]. - Notably, the seventh largest circulating shareholder, Nuoan Pioneer Mixed A, reduced its holdings by 214,550 shares [3]. Market Activity - On October 15, the stock price reached 25.33 yuan per share, with a trading volume of 56.24 million yuan and a turnover rate of 1.29%, indicating active trading [1]. - The net inflow of main funds was 2.69 million yuan, with large orders accounting for 15.73% of purchases [1]. Business Overview - Anke Rui specializes in the research, production, sales, and service of equipment and systems for energy efficiency management in medium and low voltage enterprises, with a revenue composition that includes power monitoring systems (41.94%) and energy management products (32.41%) [1]. - The company is categorized under the power equipment industry, specifically in grid equipment and electrical instruments [1].

Company Overview - Anke Rui Electric Co., Ltd. is located in Jiading District, Shanghai, established on June 23, 2003, and listed on January 13, 2012 [1] - The company specializes in the research, production, sales, and service of equipment and systems required for energy efficiency management in medium and low voltage microgrids [1] Financial Performance - For the first half of 2025, Anke Rui achieved operating revenue of 539 million yuan, a year-on-year increase of 1.54%, and a net profit attributable to shareholders of 126 million yuan, up 24.83% year-on-year [2] - The company has distributed a total of 572 million yuan in dividends since its A-share listing, with 229 million yuan distributed in the last three years [3] Stock Performance - As of September 17, Anke Rui's stock price increased by 2.03%, reaching 25.62 yuan per share, with a total market capitalization of 6.425 billion yuan [1] - Year-to-date, the stock price has risen by 27.14%, with a 7.87% increase over the last five trading days, 9.02% over the last twenty days, and 18.33% over the last sixty days [1] Shareholder Information - As of June 30, 2025, the number of shareholders increased to 13,800, a rise of 2.39%, while the average circulating shares per person decreased by 2.31% to 12,727 shares [2] - Notably, the seventh largest circulating shareholder, Nuoan Pioneer Mixed A, holds 2.887 million shares, having decreased by 2.1455 million shares compared to the previous period [3] Business Segments - The main revenue sources for Anke Rui include: - Power monitoring and substation comprehensive monitoring systems (41.94%) - Energy management products and systems (32.41%) - Power sensors (11.68%) - Fire safety and electricity safety products (7.58%) - Other microgrid-related products (5.89%) - Other revenues (0.49%) [1] Industry Classification - Anke Rui is classified under the Shenwan industry as: - Power Equipment - Grid Equipment - Electrical Instruments and Meters [1] - The company is involved in several concept sectors including solar energy, virtual power plants, power IoT, smart grids, and charging piles [1]

Core Viewpoint - Ankerui (300286) reported steady growth in its performance for the first half of 2025, with significant advancements in the intelligent development of enterprise microgrid technology due to continuous R&D investment since 2024 [1][2] Financial Performance - The company achieved operating revenue of 539 million yuan, a year-on-year increase of 1.54% [1] - The net profit attributable to shareholders reached 126 million yuan, reflecting a year-on-year growth of 24.83% [1] - Basic earnings per share were reported at 0.55 yuan [1] - The net cash flow from operating activities was 89.21 million yuan, up 28.33% year-on-year [1] Product Performance - Revenue from the company's main enterprise microgrid products and power sensors grew by 20.14% and 6.47% respectively [1] - Revenue from power monitoring and substation comprehensive monitoring systems, energy efficiency management products, and fire and electricity safety products showed no significant changes compared to the previous year [1] Market Performance - The company experienced revenue growth in both domestic and overseas markets, driven by the successful promotion of EMS2.0 and EMS3.0 [1] - Sales revenue increased in public services, new energy, and industrial parks, maintaining a leading position in the domestic market [1] - The overseas revenue amounted to 26.75 million yuan, marking an 8.04% year-on-year increase [1] Profit Distribution - The company proposed a profit distribution plan for the first half of 2025, intending to distribute a cash dividend of 1.00 yuan per 10 shares to all shareholders, totaling 24.72 million yuan [2] - The company focuses on the R&D, production, sales, and service of equipment and systems required for energy efficiency management in medium and low voltage enterprise microgrids, combining hardware production with software development [2]

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 32.76 [1][5]. Core Views - The company has shown a steady revenue growth of 1.54% year-on-year in H1 2025, achieving revenue of RMB 539 million and a net profit of RMB 126 million, which is a 24.83% increase year-on-year [1][2]. - The increase in profitability is attributed to a higher proportion of software revenue, leading to improved gross margins and better expense management [1][3]. - The demand for the company's overseas expansion and EMS 3.0 business is expected to grow, supported by favorable industry trends in energy efficiency management [1][4]. Summary by Sections Revenue and Profitability - In H1 2025, the company achieved revenue of RMB 539 million, with a net profit of RMB 126 million, reflecting a year-on-year increase of 24.83% [1][2]. - The gross profit margin improved to 47.82%, up by 0.75 percentage points year-on-year, driven by efficiency optimization in production lines [3]. Product Performance - Revenue from various product segments in H1 2025 includes RMB 226 million from power monitoring systems, RMB 175 million from energy management products, and RMB 41 million from fire safety products, with overall revenue growth supported by the accelerated rollout of EMS 3.0 products [2][3]. Domestic and International Growth - Domestic revenue reached RMB 512 million, growing by 1.21% year-on-year, while international revenue was RMB 27 million, up by 8.40% year-on-year, indicating a dual growth strategy [4]. - The company is focusing on expanding its sales presence in Southeast Asia, Europe, the Middle East, and Africa, which is expected to enhance future business growth [4]. Earnings Forecast and Valuation - The revenue forecast for 2025 is adjusted to RMB 1.252 billion, with a compound annual growth rate (CAGR) of 22.71%, and net profit forecasted at RMB 294 million, with a CAGR of 40.65% [5]. - The target price is set at RMB 32.76, based on a price-to-earnings (PE) ratio of 28x for 2025, reflecting the company's software product advantages [5].