Core Viewpoint - The report highlights the trends and forecasts in the Chinese electrical instrumentation market from 2026 to 2032, indicating a slight growth in production despite a recent decline in cumulative output [1] Industry Overview - According to the National Bureau of Statistics, the production of electrical instruments in China is projected to reach 27.84 million units by December 2025, reflecting a year-on-year increase of 1.8% [1] - However, the cumulative production for the entire year of 2025 is expected to decline by 5.9% compared to previous years [1] Company Insights - Listed companies in the electrical instrumentation sector include Weisheng Information (688100), Linyang Energy (601222), Samsung Medical (601567), Haixing Electric Power (603556), XJ Electric (000400), Pinggao Electric (600312), Guodian Nanzi (600268), *ST Huayi (600290), Dongfang Electronics (000682), and Kelun Electronics (002121) [1] Market Research - The report by Zhiyan Consulting provides a comprehensive analysis of supply and demand in the electrical instrumentation market, emphasizing the importance of industry insights for investment decisions [1]

Core Viewpoint - Shanghai Shishang Energy Equipment Co., Ltd. has been established with a registered capital of 5 million RMB, fully owned by Shanghai Shishang Energy Technology Co., Ltd. [1] Company Information - Company Name: Shanghai Shishang Energy Equipment Co., Ltd. [1] - Legal Representative: Zhang Deyan [1] - Registered Capital: 5 million RMB [1] - Company Type: Limited liability company (wholly owned by a natural person) [1] - Business Duration: Until January 14, 2026, with no fixed term thereafter [1] - Registration Authority: Chongming District Market Supervision Administration [1] Business Scope - The business scope includes sales of machinery and electrical equipment, energy management contracts, technical services, software development, sales of hydraulic machinery and components, environmental protection equipment, electrical instruments, valves, pumps, pipeline transportation equipment, metal processing machinery, hardware manufacturing, import and export of goods, and technology [1] - Licensed projects include construction engineering design and construction, which require approval from relevant authorities before commencement [1]

根据国家统计局数据显示：2025年11月中国电工仪器仪表产量为2757万台，同比增长7.5%；2025年1-11 月中国电工仪器仪表累计产量为24781.6万台，累计下降6.7%。 上市企业：威胜信息（688100）,林洋能源（601222）,三星医疗（601567）,海兴电力（603556）,许继电 气（000400）,平高电气（600312）,国电南自（600268）,*ST华仪（600290）,东方电子（000682）,科陆 电子（002121） 相关报告：智研咨询发布的《2026-2032年中国仪器仪表市场供需预测及未来发展趋势报告》 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 2020-2025年1-11月中国电工仪器仪表产量统计图 ...

Core Viewpoint - The lawsuit between Kelu Electronics and China Nanhai Engineering Co., Ltd. involves a construction contract dispute, with Kelu Electronics required to pay approximately 169 million yuan after a court ruling [1][2]. Group 1: Lawsuit Details - The dispute dates back to March 2019 when the two parties signed a construction contract for the Smart Energy Industrial Park project, with actual construction starting on May 12, 2019 [2]. - The contract stipulated a duration of 914 days, with an expected completion date of November 11, 2021; however, the project was completed on April 26, 2023, resulting in a delay of 531 days [2]. - In October 2024, China Nanhai Engineering filed a lawsuit against Kelu Electronics, claiming payment of 237 million yuan for project costs and penalties due to Kelu's failure to complete settlement reviews and timely payments [2]. Group 2: Counterclaims and Financial Performance - In March 2025, Kelu Electronics filed a counterclaim for 174 million yuan, citing delays caused by Nanhai Engineering and claiming damages due to the inability to use the project on time [3]. - Kelu Electronics also pointed out quality issues and breaches of contract by Nanhai Engineering during the construction process, including unpaid utility fees and failure to complete necessary repairs [3]. - For the first three quarters of 2025, Kelu Electronics reported a revenue of 3.586 billion yuan, a year-on-year increase of 23.42%, and a net profit of 232 million yuan, reflecting a significant growth of 251.10% [3].

Core Viewpoint - The lawsuit between Kelu Electronics and China Nanhai Engineering Co., Ltd. has resulted in a judgment requiring Kelu Electronics to pay approximately 174 million yuan, with a net payment of about 169 million yuan after deducting utility fees owed to the defendant [1][3]. Group 1: Lawsuit Details - The dispute originated from a construction contract signed in March 2019 for the Smart Energy Industrial Park project, with additional agreements made in 2021 [2]. - China Nanhai Engineering Co., Ltd. filed a lawsuit in October 2024 due to Kelu Electronics' failure to complete the final settlement and pay due project funds [3]. - The judgment includes payments of 110 million yuan for project funds, 6.6174 million yuan for expedited construction fees, 8.2222 million yuan for discount fees, and 37.682 million yuan in interest for overdue payments [3]. Group 2: Financial Performance - Kelu Electronics reported a significant turnaround in 2025, with a revenue of 3.586 billion yuan, a year-on-year increase of 23.42%, and a net profit of 232 million yuan, up 251.10% [7]. - The company experienced a decline in non-recurring net profit in the third quarter of 2025, attributed to a high revenue recognition in the second quarter and a return to first-quarter gross margin levels [8]. - The stock price of Kelu Electronics increased by 77% throughout 2025, closing at 8.08 yuan per share on January 6, with a total market capitalization of approximately 13.419 billion yuan [8].

Core Viewpoint - The report highlights a significant decline in the production of electrical instruments and meters in China, indicating potential challenges for companies in this sector [1] Industry Summary - In October 2025, the production of electrical instruments and meters in China was 17.91 million units, representing a year-on-year decrease of 17.9% [1] - From January to October 2025, the cumulative production of electrical instruments and meters reached 22.0265 million units, showing a cumulative decline of 8.2% [1] Company Summary - Listed companies in the electrical instruments and meters sector include Weisheng Information (688100), Linyang Energy (601222), Samsung Medical (601567), Haixing Electric Power (603556), XJ Electric (000400), Pinggao Electric (600312), Guodian Nanzi (600268), *ST Huayi (600290), Dongfang Electronics (000682), and Kelun Electronics (002121) [1]

Company Overview - Recently, Taicang Changfan Wire and Cable Co., Ltd. was established with a registered capital of 500,000 RMB [1] - The legal representative of the company is Gu Manman [1] Business Scope - The company operates in various sectors including the sale of wires and cables, optical cables, hardware products, mechanical and electrical equipment, household appliances, electronic components, building materials, and metal products [1] - Additional sales activities include smart instruments, distribution control equipment, electrical materials, lighting fixtures, and daily necessities [1]

Core Viewpoint - Jiangsu Junzhizhen Electric Appliance Trade Co., Ltd. has been established with a registered capital of 20 million RMB, indicating a new player in the electric equipment and related sales industry [1] Company Summary - The legal representative of the newly established company is Zhen Jun [1] - The registered capital of the company is 20 million RMB [1] - The company’s business scope includes sales of electrical equipment, mechanical and electrical equipment, charging piles, distribution switch control equipment, teaching instruments, electrical instruments, lighting fixtures, and superconducting materials [1]

Group 1 - A new company, Hebei Youbai Cable Sales Co., Ltd., has been established with a registered capital of 100,000 RMB [1] - The legal representative of the company is Huang Mengyuan [1] - The business scope includes the sale of wires and cables, metal wire ropes and their products, hardware products, power distribution switch control equipment, electrical electronic components, electrical equipment, and various other related products [1]

Group 1 - The establishment of Wanan County Wei Ying Machinery Equipment Business Department, a sole proprietorship, has been registered with a legal representative named Xie Weiying [1] - The registered capital of the business is 90,000 RMB [1] - The business scope includes general projects such as machinery equipment sales, hardware products retail and wholesale, electronic components wholesale and retail, and sales of specialized chemical products (excluding hazardous chemicals) [1] Group 2 - The company also engages in the sales of rubber products, sealing components, and high-performance sealing materials, operating under the legal business license [1]