Core Viewpoint - Southeast Network Frame has been confirmed as the winning bidder for the "Pujiang Street Five Villages Joint Development Project" with a bid amount of RMB 1,686.431388 million [1] Group 1 - The announcement was made on the evening of September 4, 2023 [1] - The bid result was published on the Hangzhou Public Resource Trading Platform [1] - The company has received the bid notification letter [1]

Core Points - Zhejiang Southeast Steel Structure Co., Ltd. has been confirmed as the winning bidder for the "Puyang Street Five Villages Joint Development Project" with a bid amount of approximately RMB 1.686 billion [1] Group 1 - The project was announced on September 4, 2025, by the Hangzhou Public Resource Trading Platform [1] - The company has received the bid notification letter confirming its status as the winning bidder [1]

Core Viewpoint - Zhejiang Southeast Space Frame Co., Ltd. has won the bid for the "Puyang Street Five Villages Joint Planning and Development Project" with a bid amount of 1,686.431388 million yuan, which represents 15.00% of the company's audited revenue for 2024 [1] Group 1 - The project involves the construction of commercial office spaces with a total building area of 400,626.65 square meters and a construction period of 1,150 calendar days [1] - The project will adopt a general contracting model and integrate multiple technologies from the company, utilizing BIPV construction methods for roofing and other enclosure systems [1] - Winning this bid will enhance the company's competitiveness in the commercial complex sector and support its strategic transformation towards "EPC + Prefabricated Construction + BIPV" [1]

智通财经APP讯，东南网架(002135.SZ)公告，据《浦沿街道五村联合统筹开发项目中标结果公告》，公 司被确认为"浦沿街道五村联合统筹开发项目"的中标单位，并收到中标通知书，中标金额为16.9亿元。 项目将新建商业办公、商业综合体等，总建筑面积为 400,626.65 平方米，基坑深度 14.6m。本次招标为 施工总承包招标，招标范围为施工图范围内的土石方工程、基坑围护、结构工程、建筑工程、幕墙工 程、装修工程、给排水工程、电气工程、消防工程、暖通工程、智能化工程、变配电(低压部分)、室外 附属(给排水、消防、道路、海绵城市等)、光伏系统、泛光照明、电梯设备、交通设施等施工设计图纸 内的所有工作内容。 ...

Group 1 - The company, Dongnan Network Frame, has been confirmed as the winning bidder for the "Pu Yang Street Five Villages Joint Development Project" with a bid amount of 1.69 billion yuan [1] - The project will involve the construction of commercial offices and a commercial complex, covering a total building area of 400,626.65 square meters [1] - The scope of the tender includes various construction works such as earthworks, foundation pit protection, structural engineering, building engineering, curtain wall engineering, decoration engineering, plumbing, electrical engineering, fire protection engineering, HVAC engineering, intelligent engineering, and photovoltaic systems among others [1]

| 证券代码：002135 | 证券简称：东南网架 | 公告编号：2025-070 | | --- | --- | --- | | 债券代码：127103 | 债券简称：东南转债 | | 浙江东南网架股份有限公司 关于中标重大项目的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 2025 年 9 月 4 日 ， 杭 州 市 公 共 资 源 交 易 平 台 （https://ggzy.hzctc.hangzhou.gov.cn）公布了《浦沿街道五村联合统筹开发项目中 标结果公告》，确认浙江东南网架股份有限公司（以下简称"公司"）为"浦沿街 道五村联合统筹开发项目"的中标单位，并收到中标通知书，中标金额为人民币 168,643.1388 万元。现将中标的有关情况公告如下： 一、中标通知书的主要内容 1、项目名称：浦沿街道五村联合统筹开发项目 2、招标人：杭州江宸开发建设有限责任公司 3、中标单位：浙江东南网架股份有限公司 4、中标价格：人民币 168,643.1388 万元 5、中标内容范围：项目新建商业办公、商业综合体等，总建筑面积为 400,626.65 ...

人民财讯9月4日电，东南网架（002135）9月4日晚间公告，杭州市公共资源交易平台公布《浦沿街道五 村联合统筹开发项目中标结果公告》，确认公司为"浦沿街道五村联合统筹开发项目"的中标单位，并收 到中标通知书，中标金额16.86亿元。 ...

Core Viewpoint - The photovoltaic industry is expected to experience a reasonable price recovery and profit restoration, with improvements in the fundamentals driven by policy support and technological innovation [1][4]. Policy Impact - A series of targeted policies have been introduced since 2025 to address the issue of "disorderly low-price competition" in the photovoltaic industry, establishing clear boundaries for healthy industry development [3]. - The revised Anti-Unfair Competition Law prohibits the sale of products like silicon materials and components below cash cost, setting a price floor and curbing "suicidal price cuts" [3]. - The Central Financial Committee emphasized the need to govern low-price competition and promote the orderly exit of backward production capacity, signaling a strong push for supply-side structural optimization [3]. Market Dynamics - Since the second quarter of 2025, prices across the photovoltaic industry chain have shown an orderly recovery, indicating improvements in supply-demand relationships and competitive order [4]. - Silicon material prices have seen a significant increase, with the average transaction price for multi-crystalline silicon reaching 47,900 RMB per ton, marking a 3.37% rise and an eight-week consecutive increase [4]. - The reduction in low-price sales and the gradual decrease in industry inventory have contributed to this price recovery [4]. Industry Trends - The photovoltaic industry is transitioning from homogeneous competition to differentiated development, with leading companies exploring unique market segments [6]. - Companies like Southeast Network Frame are actively pursuing carbon-neutral strategies and investing in renewable energy projects, such as a 110MW agrivoltaic project [6]. - Innovative application models, including photovoltaic + energy storage and photovoltaic + agriculture, are becoming increasingly mature, contributing to the industry's high-quality development [7]. Performance Metrics - In the first half of 2025, the national photovoltaic installed capacity reached approximately 1.1 billion kilowatts, a year-on-year increase of 54.1%, with cumulative power generation of 559.1 billion kilowatt-hours, up 42.9% [7]. - The photovoltaic equipment sector has seen a significant rise, with the sector index increasing by 37.26% since early April 2025 [7].

Financial Performance - The company reported a total revenue of 4.538 billion yuan, a year-on-year decrease of 27.28% [1] - The net profit attributable to shareholders was 42.1545 million yuan, down 67.28% year-on-year [1] - In Q2, total revenue was 2.1 billion yuan, a decline of 35.04% year-on-year, with a net profit of -4.7475 million yuan, a decrease of 111.99% [1] - The gross margin was 7.96%, a decrease of 0.2% year-on-year, while the net margin was 0.96%, down 53.48% year-on-year [1] - Total sales, management, and financial expenses amounted to 198 million yuan, accounting for 4.36% of revenue, an increase of 24.24% year-on-year [1] - Earnings per share were 0.04 yuan, a decrease of 63.64% year-on-year [1] Financial Ratios and Cash Flow - The company's accounts receivable were significantly high, with accounts receivable to net profit ratio reaching 2165.62% [1] - The net cash flow from operating activities decreased by 566.69% due to payments for trade activities [3] - The net cash flow from financing activities increased by 175.18% due to higher borrowing [4] - The company’s return on invested capital (ROIC) was 2.81%, indicating weak capital returns [5] - The average cash flow from operating activities over the past three years has been negative [7] Business Strategy and Future Plans - The company aims to implement the "EPC General Contracting + No. 1 Project" strategy to drive high-quality development [7] - Plans to focus on green and low-carbon construction, expanding into new energy markets with a comprehensive energy business model [7] - The company will respond to the "Belt and Road" initiative by expanding its business in core regions and enhancing its global brand influence [8] - Emphasis on digital management and smart manufacturing to reduce production costs and improve product quality [9]

Group 1 - The company raised a total of RMB 200,000.00 million through the issuance of convertible bonds, with a net amount received of RMB 198,623.15 million after deducting related fees [1][2][10] - As of June 30, 2025, the company has utilized RMB 40,000.00 million of idle raised funds to temporarily supplement working capital, with the usage period not exceeding 12 months [2][9] - The company has established five special accounts for the management of raised funds, ensuring compliance with relevant regulations and agreements [4][5][33] Group 2 - The company reported a total of approximately RMB 79,637.81 million in new litigation and arbitration cases, representing 12.25% of the latest audited net assets [11][12][14] - The majority of the litigation cases are related to contract disputes in daily operations, with the company actively pursuing claims for overdue payments [14][12] - There are no significant litigation or arbitration matters that exceed 10% of the company's latest audited net assets [12][14] Group 3 - The company has not encountered any abnormal situations regarding the investment projects funded by the raised capital [6][8] - There are no issues in the usage and disclosure of raised funds for the current year [9][33] - The company has not changed the investment projects funded by the raised capital [8][10]