Group 1: Business Overview - The company operates in two main sectors: automotive components and new energy storage [2] - Automotive components include research, production, and sales of transmission and drive system products for passenger vehicles, commercial vehicles, and new energy vehicles [2] - The company is also focusing on non-road transmission/drive systems, including electric drive systems for construction machinery and high-power tractors [2] Group 2: Passenger Vehicle Transmission Business - The company is expanding its CVT automatic and MT manual transmission products to international markets, aiming for increased export sales [3] - Development of electric vehicle (EV) reducers and related products is ongoing to boost sales [3] Group 3: Commercial Vehicle Transmission Business - The light truck manual transmission market is experiencing strong demand, with significant year-on-year sales growth [4] - The company is developing electric products for light and medium trucks, including hybrid and electric drive systems, which are now in mass production [4] Group 4: Non-Road Transmission/Drive Systems - Focus on developing electric drive systems for construction machinery and high-power tractors, with new products in testing and production [5] - The high-power tractor power shift system and electric drive systems for construction machinery have already been launched [5] Group 5: New Energy Storage Business - The company has operational independent energy storage stations in Zhaoqing and Yiwu, with installed capacities of 100MW/200MWh and 100MW/200MWh respectively [6] - Ongoing construction of additional energy storage stations in Foshan and Yiwu, with expected operational dates in the second half of 2025 [6] - The company is actively expanding its energy storage projects in various regions, including Guangdong, Jiangsu, and Guangxi [6] Group 6: Robotics Components Business - Establishment of Zhejiang Wanliyang Robotics Technology Co., Ltd. to focus on the development and industrialization of precision transmission products for robots [7] - Initial completion of product platform planning, including harmonic reducers and planetary reducers, with standardized designs [7][8] - Currently developing products for two clients, with the first planetary joint module successfully completed [8]

Core Viewpoint - The company Wanliyang (002434) is focusing on the development of energy storage power stations, particularly in the grid-side and user-side sectors, to provide flexible power regulation services [1] Group 1: Current Operations - Wanliyang's subsidiary, Wanliyang Energy, has operational energy storage power stations in Guangdong and Gansu provinces, primarily providing frequency regulation services for power plants [1] - The company has already put into operation two grid-side independent energy storage power stations: the "Wanliyang Duanzhou Independent Energy Storage Station" in Zhaoqing, Guangdong, with a capacity of 100MW/200MWh, and the "Yiwu Wanliyang Suxi Substation Independent Energy Storage Station" in Yiwu, Zhejiang, also with a capacity of 100MW/200MWh [1] Group 2: Future Developments - The company plans to focus on the development of grid-side independent energy storage stations and user-side energy storage stations in the coming years [1] - Currently under construction are two grid-side independent energy storage stations: the "Wanliyang Gaoming Independent Energy Storage Station" in Foshan, Guangdong, with a capacity of 200MW/400MWh, and the second phase of the "Yiwu Wanliyang Suxi Substation Independent Energy Storage Station" in Yiwu, Zhejiang, with a capacity of 50MW/100MWh, expected to be operational in the second half of 2025 [1]

Core Viewpoint - The company, Wanliyang, is actively developing its energy storage projects, focusing on both grid-side and user-side energy storage systems, with significant operational capacity already established and future projects underway [1] Group 1: Current Operations - The subsidiary, Wanliyang Energy, has operational energy storage power stations in Guangdong and Gansu provinces, primarily providing frequency regulation services to power plants [1] - Two grid-side independent energy storage stations are already operational: the "Wanliyang Danzhou Independent Energy Storage Station" in Zhaoqing, Guangdong, with a capacity of 100MW/200MWh, and the "Yiwu Wanliyang Suxi Transformer Independent Energy Storage Station" in Yiwu, Zhejiang, also with a capacity of 100MW/200MWh [1] Group 2: Future Developments - The company plans to focus on developing grid-side independent energy storage stations and user-side energy storage stations in the coming years [1] - Ongoing construction includes the "Wanliyang Gaoming Independent Energy Storage Station" in Foshan, Guangdong, with a capacity of 200MW/400MWh, and the second phase of the "Yiwu Wanliyang Suxi Transformer Independent Energy Storage Station" in Yiwu, Zhejiang, with a capacity of 50MW/100MWh, expected to be operational in the second half of 2025 [1]

Core Viewpoint - Wanliyang (002434) is actively developing energy storage projects, focusing on both generation-side and grid-side energy storage systems to provide flexible power regulation services [1] Group 1: Company Developments - Wanliyang's subsidiary, Wanliyang Energy, has operational energy storage power stations in Guangdong and Gansu provinces, primarily providing frequency regulation services for power plants [1] - The company plans to focus on the development of independent energy storage stations on the grid side and user-side energy storage stations in the coming years [1] Group 2: Industry Services - The grid-side independent energy storage stations will mainly offer peak shaving, frequency regulation, backup, and black start services to enhance the flexibility of power supply [1]

9月5日，瑞风新能源发布公告，由公司附属公司河北瑞风云联数字新能源有限公司(瑞风云联)投资及建 设的容量为300兆瓦/1.2吉瓦时的电网侧独立储能电站项目已顺利完成全流程市场化交易测试，并于 2025年7月15日正式进入中长期电能量交易运营阶段。 香港联交所最新资料显示，9月15日，瑞风新能源(00527)股东将股票由结好证券转入华富建业证券，转 仓市值8034.36万港元，占比6.6%。 ...

智通财经APP获悉，香港联交所最新资料显示，9月15日，瑞风新能源(00527)股东将股票由结好证券转 入华富建业证券，转仓市值8034.36万港元，占比6.6%。 9月5日，瑞风新能源发布公告，由公司附属公司河北瑞风云联数字新能源有限公司(瑞风云联)投资及建 设的容量为300兆瓦/1.2吉瓦时的电网侧独立储能电站项目已顺利完成全流程市场化交易测试，并于 2025年7月15日正式进入中长期电能量交易运营阶段。 ...

Core Viewpoint - The successful completion of the 300 MW/1.2 GWh grid-side independent energy storage project by the company marks a significant milestone in the management of independent storage in the Hebei region, contributing to the national "dual carbon" goals [1] Group 1: Project Details - The energy storage project, named Ruifeng Gongqingfang, is located in the Chabei Management District of Zhangjiakou City, Hebei Province [1] - The project has completed the full-process market-oriented trading test and will officially enter the medium- and long-term electricity trading operation phase on July 15, 2025 [1] - It is recognized as a key construction project for Hebei Province in 2025 and a demonstration project for the new power system in Zhangjiakou City [1] Group 2: Industry Impact - The successful operation of this project represents a breakthrough in the entire chain management of independent storage from grid connection to commercial operation, registration, trading, and operation in the Hebei region [1] - This project serves as an important practical example for the implementation of the national "dual carbon" targets [1]

Core Insights - The announcement highlights the successful completion of a 300 MW / 1.2 GWh grid-side independent energy storage project by Ruifeng New Energy's subsidiary, Hebei Ruifeng Yunlian Digital New Energy Co., Ltd [1] - The project is located in Zhangjiakou City, Hebei Province, and is recognized as a key construction project for 2025 and a demonstration project for a new power system in Zhangjiakou [1] - The operational launch of the project signifies a breakthrough in the full-chain management of independent energy storage in the Jibei region, contributing to the national "dual carbon" goals [1] Project Details - The energy storage project has successfully completed the entire market transaction testing process and will officially enter the medium to long-term electricity trading operation phase on July 15, 2025 [1] - The project is part of the broader initiative to establish a new power system in the region, aligning with national energy policies [1] Industry Impact - The successful operation of this energy storage project serves as an important practical example for achieving the national "dual carbon" targets [1] - It reflects the growing trend and importance of independent energy storage solutions in China's energy transition [1]

Group 1: Automotive Components Business - The company focuses on the research, production, and sales of automotive transmission and drive system products, covering passenger vehicles, commercial vehicles, and new energy vehicles [1] - The company is actively developing non-road transmission/drive system products, including electric drive systems for construction machinery and high-power tractors [2] - The company has expanded its international market, increasing direct exports of CVT products and developing electric vehicle (EV) reducers [2] Group 2: Commercial Vehicle Transmission Business - The light truck transmission business is steadily developing existing manual transmission products while actively developing electric products, covering P2 and PS hybrid systems [2] - The heavy truck transmission business includes AMT automatic transmissions and pure electric drive systems, with related products gradually entering mass production [2] Group 3: Non-Road Transmission/Drive Systems - The company is focusing on the development of electric drive systems for construction machinery and high-power tractors, with new product research and customer development progressing simultaneously [2] Group 4: New Energy Storage Business - The company has operational independent energy storage power stations in Zhaoqing and Yiwu, with installed capacities of 100MW/200MWh and 100MW/200MWh, respectively [3] - Additional energy storage projects are under construction in Guangdong and Zhejiang, which will further increase revenue from the energy storage business [3] Group 5: Robotics Components Business - The company established Zhejiang Wanyiyang Robotics Technology Co., Ltd. to focus on the research and industrialization of precision transmission products for robots [4] - Initial product platform planning has been completed, including standardization and platform design for various types of products [4]

Group 1: Company Overview - The company operates in two main business segments: automotive parts and new energy storage [1] - The automotive parts segment includes the R&D, production, and sales of transmission and drive system products for passenger vehicles, commercial vehicles, and new energy vehicles [1] - The new energy storage segment focuses on power-side storage power stations, grid-side independent storage power stations, user-side storage power stations, and electricity trading [1] Group 2: Passenger Vehicle Transmission Business - In 2024, the company's direct export sales of passenger vehicle transmission products saw a significant year-on-year increase [2] - The company is actively developing overseas clients to sustain revenue growth from international markets [2] - There is a strong push for electric vehicle (EV) reducers and related products, contributing to increasing sales [2] Group 3: Commercial Vehicle Transmission Business - The light truck transmission business is expanding with a focus on both manual and electric products, including P2 and PS hybrid systems [2] - The heavy truck transmission business includes AMT automatic transmissions and pure electric drive systems, with production and sales expected to grow as client models are launched [2] Group 4: New Energy Storage Business - The company has operational independent storage power stations in Zhaoqing, Guangdong (100MW/200MWh) and Yiwu, Zhejiang (100MW/200MWh) [3] - These projects leverage the company's extensive experience in design, integration, construction, and operation within the energy storage sector [3] - New project developments are underway in Guangdong, Hainan, and Zhejiang provinces to further enhance the new energy storage business [3] Group 5: Robotics Components Business - A dedicated team for the industrialization of robotic reducers has been established to enhance product offerings [4] - The company is focusing on the development and integration of harmonic reducers and planetary reducers to improve market share [4]