证券代码：688334 证券简称：西高院 公告编号：2025-044 西安高压电器研究院股份有限公司 关于控股子公司开立募集资金专项账户并 签订募集资金三方监管协议的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依 法承担法律责任。 一、募集资金的基本情况 经中国证券监督管理委员会《关于同意西安高压电器研究院股份有 限公司首次公开发行股票注册的批复》（证监许可〔2023〕726 号）同意 注册，并经上海证券交易所同意，公司首次公开发行人民币普通股（A 股）股票 7,914.4867 万股，每股发行价格为人民币 14.16 元，募集资金 总额为人民币 112,069.13 万元，扣除发行费用(不含增值税)人民币 6,090.83 万元，实际募集资金净额为人民币 105,978.30 万元。上述资 金已全部到位，天职国际会计师事务所（特殊普通合伙）对本次公开发 行股票的募集资金到位情况进行了审验，并于 2023 年 6 月 13 日出具了 天职业字〔2023〕39142 号《验资报告》。公司依照规定对募集资金采取 了专户存储管理，并与保荐 ...

Core Viewpoint - The signing of a Memorandum of Understanding (MOU) between PT PLN Persero and XIHARI signifies a deepening collaboration in areas such as testing, personnel training, and standard formulation, enhancing XIHARI's brand strength and international influence in the Southeast Asian power testing market [1] Group 1 - PT PLN Persero's General Manager Tri and his team visited XIHARI to attend the MOU signing ceremony [1] - The renewed MOU aims to strengthen mutual trust and solidify XIHARI's position in the Southeast Asian power testing market [1] - The collaboration is expected to enhance the capabilities in testing, training, and standard-setting [1]

Market Overview - On September 29, the professional services sector rose by 0.42% compared to the previous trading day, with Zhonggang Tianyuan leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Stock Performance - Zhonggang Tianyuan (002057) closed at 10.85, with a gain of 3.14% and a trading volume of 237,800 shares, amounting to a transaction value of 256 million yuan [1] - Lihua Kechuang (002243) closed at 9.60, up 2.45%, with a trading volume of 543,600 shares and a transaction value of 521 million yuan [1] - Other notable performers include: - Jianyan Institute (603183) at 4.39, up 1.86% [1] - Guangdong Jianke (301632) at 29.36, up 1.66% [1] - Lansheng Co., Ltd. (600826) at 10.35, up 1.47% [1] Fund Flow Analysis - The professional services sector saw a net inflow of 11.43 million yuan from institutional investors, while retail investors experienced a net outflow of 20.59 million yuan [2] - Key stocks with significant fund flows include: - Lihua Kechuang with a net inflow of 38.91 million yuan from institutional investors [3] - Zhonggang Tianyuan with a net inflow of 29.77 million yuan from institutional investors [3] - Guangdong Jianke with a net inflow of 11.26 million yuan from institutional investors [3]

Group 1 - The core business of the company is providing inspection and testing services in the electrical field, with inspection services accounting for 94.70% of total revenue [2] - As of June 30, 2025, the company achieved operating revenue of 420 million yuan, representing a year-on-year growth of 33.71%, and a net profit attributable to shareholders of 133 million yuan, also showing a growth of 33.47% [2] - The company has a strong technical and experience advantage in the field of electrical equipment testing services, which is its core business [2] Group 2 - The company has distributed a total of 280 million yuan in dividends since its A-share listing [3] - As of June 30, 2025, the number of shareholders reached 12,200, an increase of 1.18% from the previous period [2] - China International Capital Corporation Limited is the sixth largest circulating shareholder, holding 1.2843 million shares as a new shareholder [3] Group 3 - On September 23, the company's stock price fell by 0.91%, with a trading volume of 56.1094 million yuan [1] - The financing buy-in amount on that day was 8.5146 million yuan, while the financing repayment was 9.9527 million yuan, resulting in a net financing buy-in of -1.4380 million yuan [1] - The total margin trading balance as of September 23 was 130 million yuan, accounting for 4.44% of the circulating market value, indicating a relatively high level compared to the past year [1]

Core Viewpoint - The announcement details the cash dividend distribution plan for Xi'an High Voltage Electric Apparatus Research Institute Co., Ltd., with a cash dividend of 0.231 RMB per share, totaling approximately 73.13 million RMB [1]. Dividend Distribution Plan - The cash dividend of 0.231 RMB per share is based on a total share capital of 316,579,466 shares [1]. - The total cash dividend distribution amounts to 73,129,856.65 RMB [1]. - The distribution plan was authorized by the shareholders' meeting held on May 8, 2025 [1]. Relevant Dates - The key dates for the dividend distribution are as follows: - Record date - Ex-dividend date - Cash dividend payment date [1]. Implementation Method - The cash dividends for unrestricted circulating shares will be distributed through the China Securities Depository and Clearing Corporation Limited, Shanghai Branch [1]. - Shareholders who have completed designated transactions can receive their cash dividends on the payment date, while those who have not will have their dividends held by the clearing company until the designated transaction is completed [1]. Taxation Information - For individual shareholders holding shares for over one year, the cash dividend is exempt from individual income tax, resulting in an actual distribution of 0.231 RMB per share [2]. - For shares held for less than one year, the company will not withhold individual income tax at the time of distribution, and the tax will be calculated and withheld by the securities company [2]. - The actual tax burden varies based on the holding period, with a 20% tax for holdings of one month or less, and a 10% tax for holdings between one month and one year [3]. Additional Information for Foreign Investors - For Qualified Foreign Institutional Investors (QFII), a 10% corporate income tax will be withheld, resulting in a net cash dividend of 0.2079 RMB per share [4]. - Hong Kong market investors will also have a 10% tax withheld, with the same net cash dividend of 0.2079 RMB per share [4]. - Other institutional investors and corporate shareholders will be responsible for their own tax payments, with a gross cash dividend of 0.231 RMB per share [5].

证券代码：688334 证券简称：西高院 公告编号：2025-043 西安高压电器研究院股份有限公司2025年半年度权益分派实 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/9/11 | 2025/9/12 | 2025/9/12 | 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 5 月 8 日的2024年年度股东大会授权，经 2025 年 8 月 19 日第二届董事会第三次会议审议通过后实施。 二、 分配方案 施公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 1. 发放年度：2025年半年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本316,579,466股为基数，每股派发现 是否涉及差异化分红送转：否 每股分配比例 每股现金红利0.2 ...

中国国际金融股份有限公司 关于西安高压电器研究院股份有限公司 2025 年半年度持续督导跟踪报告 根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》 《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有关法律、法规 的规定，中国国际金融股份有限公司（以下简称"保荐机构"）作为西安高压电器研 究院股份有限公司（以下简称"西高院"或"公司"）首次公开发行股票并在科创板 上市及持续督导的保荐机构，负责西高院持续督导工作，出具本持续督导跟踪报告。 一、持续督导工作情况 | 序号 | 工作内容 | 持续督导情况 | | --- | --- | --- | | 1 | 建立健全并有效执行持续督导工作制度，并针对具体的 持续督导工作制定相应的工作计划 | 保荐机构已建立健全并有效执 行了持续督导制度，并制定了 | | | | 相应的工作计划 | | 2 | 根据中国证监会相关规定，在持续督导工作开始前，与 上市公司或相关当事人签署持续督导协议，明确双方在 | 保荐机构已与西高院签订保荐 | | | | 协议，该协议明确了双方在持 | | | 持续督导期间的权利义务，并报上海证券交易所备案 ...

Core Viewpoint - The company is actively developing its solid-state battery testing capabilities and will provide updates through regular reports and announcements [1] Group 1 - The company has communicated its ongoing efforts in building solid-state battery testing capabilities [1]

Core Viewpoint - The company has developed a practical new type of patent for "high-pressure hollow core fiber composite insulator," which has broad applications in high voltage signal monitoring, transmission, and control, as well as online monitoring of electrical equipment in power plants, and can be integrated as a measurement and control component in main equipment [1] Group 1 - The company possesses a practical new type patent for a high-pressure hollow core fiber composite insulator [1] - The product can be widely used for monitoring and controlling high voltage signals [1] - It is applicable for online monitoring of electrical equipment in power plants [1] Group 2 - The insulator can be integrated as a measurement and control component in main equipment [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company reported a revenue of 420 million yuan for the first half of 2025, representing a year-on-year increase of 11.6%. The net profit attributable to shareholders was 130 million yuan, up 14.1% year-on-year, while the net profit excluding non-recurring items reached 120 million yuan, marking a 37.6% increase [3][4]. - In the second quarter of 2025, the company achieved a revenue of 210 million yuan, reflecting an 11.1% year-on-year growth. The net profit attributable to shareholders was 70 million yuan, up 15.9% year-on-year, and the net profit excluding non-recurring items was 65 million yuan, a 40.4% increase [3][4]. - The company is benefiting from stable growth in the high-voltage testing demand, with ongoing expansion in the new energy sector and international markets [8]. Summary by Sections Revenue Performance - The company maintains steady revenue growth, primarily driven by continuous technological innovation and upgrades in downstream products. Significant orders have been secured in the core transmission and distribution sector, including various high-voltage equipment for projects in Brazil, Saudi Arabia, and Turkey [8]. Profitability - The gross margin for the first half of 2025 reached 55.96%, an increase of 2.35 percentage points year-on-year. The gross margin for Q2 2025 was 53.73%, up 1.05 percentage points year-on-year, but down 4.52% quarter-on-quarter. The improvement in gross margin is attributed to the cost dilution effect from increased revenue scale [8]. Expense Management - The total expense ratio for the first half of 2025 was 20.44%, a decrease of 0.51 percentage points year-on-year. The sales expense ratio was 1.86%, down 0.30 percentage points year-on-year, while the management expense ratio was 10.57%, up 0.08 percentage points year-on-year [8]. Cash Flow and Contracts - As of the end of Q2 2025, the company's contract liabilities amounted to 329 million yuan, a year-on-year increase of 57.3%. The operating net cash flow for the first half of 2025 was 290 million yuan, up 13.5% year-on-year, indicating strong cash flow quality [8]. Future Outlook - The company is expected to continue benefiting from the upgrade and iteration of power equipment products, with a projected net profit attributable to shareholders of 280 million yuan for 2025, corresponding to a PE ratio of approximately 21 times [8].