Core Viewpoint - Jiangsu Shenneng Electric Power Co., Ltd. experienced a significant stock price fluctuation, with a cumulative closing price increase exceeding 20% over three consecutive trading days from November 3 to November 5, 2025, which is classified as an abnormal trading situation according to the Shanghai Stock Exchange regulations [2][3][10]. Group 1: Stock Trading Fluctuation - The company's stock price increased by more than 20% cumulatively over three trading days, indicating abnormal trading activity [2][3]. - The company confirmed that there are no undisclosed significant information affecting the stock price, and the production and operational activities remain normal [4][6]. Group 2: Major Events - The company approved a share repurchase plan on July 29, 2025, and has repurchased 7,977,424 shares, accounting for 1.8480% of the total share capital, with a total expenditure of approximately RMB 236.67 million [5]. - The company is planning to invest in factories in Vietnam and Romania, with specific investment scales yet to be determined [5]. Group 3: Shareholder Actions - Major shareholder Chen Xiaoqin plans to reduce holdings by up to 12,950,536 shares, representing 3% of the total share capital, with a reduction period from September 17 to December 16, 2025 [8]. - As of November 5, 2025, Chen Xiaoqin has reduced holdings by 4,316,800 shares, bringing her total ownership down from 79.16% to 78.16% [14][15]. Group 4: Company Operations - The company’s main business activities, including the research, production, and sales of composite external insulation for power systems and rubber seals, have not undergone significant changes [9]. - The internal operational order remains normal, and there have been no major fluctuations in production costs or sales [9].

Core Viewpoint - The company, Shennma Electric Power, has announced that its main business operations remain stable and unchanged, despite recent market fluctuations [1] Business Operations - The company primarily engages in the research, production, and sales of composite external insulation for power system substations, composite external insulation for power transmission and distribution lines, and rubber sealing components [1] - There have been no significant changes in the company's business operations or its main business structure [1] Investment Plans - The company is planning to invest in establishing factories in Vietnam and Romania, although specific investment scales have yet to be determined [1] - A board meeting will be convened soon to review related proposals regarding the investment [1]

Core Viewpoint - Shunma Electric (603530.SH) is experiencing significant growth in performance, driven by a younger management team and international business expansion, with plans to invest in factories in Vietnam and Romania [1][9]. Financial Performance - In the first half of 2025, Shunma Electric achieved operating revenue of 704 million yuan, a year-on-year increase of 27.74% [1][9]. - The net profit attributable to shareholders was 160 million yuan, reflecting a year-on-year growth of 13.60% [1][9]. - The company reported a contract income (new orders) of 978 million yuan, up 34.46% from the previous year, with domestic contract income at 515 million yuan (30.24% increase) and overseas contract income at 462 million yuan (39.50% increase) [1][9]. Management Changes - In July 2025, the actual controller and chairman, Ma Bin, resigned to promote a younger and more professional management team, with Jin Shuyuan, born in 1993, taking over as chairman [1][7][8]. - Jin Shuyuan has a background in studying abroad and has been responsible for business development in the U.S. market [2][8]. Stock Performance - Shunma Electric's stock price experienced an abnormal fluctuation, with a cumulative increase of over 20% over three consecutive trading days [3]. - As of October 14, 2025, the stock price reached 39.17 yuan per share, followed by a decline of 5.64% on October 15 [11]. Share Buyback and Shareholder Actions - The company has repurchased 7.9774 million shares, accounting for 1.8480% of the total share capital, with a total expenditure of 237 million yuan [3]. - Major shareholder Chen Xiaoqin plans to reduce her holdings by up to 12.9505 million shares, representing 3% of the total share capital, due to personal financial needs [4][5].

Group 1 - The company held its 32nd meeting of the 5th Board of Directors on October 13, 2025, where all 9 directors were present, and the meeting complied with relevant laws and regulations [2][3] - The Board approved the proposal to reserve stock options for the 2025 stock option incentive plan, granting 385,900 options to 12 eligible participants at an exercise price of 26.47 yuan per share [3][19][20] Group 2 - The company's stock experienced an abnormal trading fluctuation, with a cumulative closing price increase exceeding 20% over three consecutive trading days from October 10 to October 14, 2025 [8][9] - The company confirmed that its production and operational activities are normal, and there have been no significant changes in the internal or external business environment [9][14] - The company has repurchased 7,977,424 shares, accounting for 1.848% of its total share capital, as part of its employee stock ownership plan or equity incentive [10][11] Group 3 - The company is planning to invest in factories in Vietnam and Romania, with specific investment scales yet to be determined [10][11] - The company has not identified any undisclosed significant information that could affect its stock price during the period of abnormal trading fluctuations [11][12]