China Southern Power Grid Technology Co Ltd

CSG Technology released its flexible grid product series in Guangzhou and completed letters of intent for solid-state transformer orders with six organizations, marking a key first step toward commercialization in core equipment for computing-power coordination. On August 19, the Joint Research Institute for Computing-Power Coordination was inaugurated by five parties: the National New Energy Storage Innovation Center, Electric Power Research Institute of China Southern Power Grid, CSG Technology, Dongyangguang, and Chindata. It will carry out joint research and demonstration across four areas: direct green power connection for data centers and coordinated power use across source, grid, load, and storage; advanced DC distribution and power quality optimization; new energy storage devices and system integration; and intelligent operation and reliability management for computing centers. The flexible grid products released this time are built on a full-chain independent R&D system covering silicon carbide power devices, modules, and equipment. They include standardized silicon carbide power modules, flexible DC voltage regulation devices, flexible interconnection devices, solid-state transformers, phase-switching three-phase imbalance treatment devices, and mobile active power regulation devices for distribution areas, covering three major scenarios: flexible distribution networks, microgrids, and computing-power coordination. The solid-state transformer is equipped with fully domestically produced silicon carbide devices and supports multiple power supply guarantees, long-duration backup from energy storage, and direct green power connection, making it a core solution for computing centers, super-fast charging, and smart microgrid scenarios. CSG Technology completed letters of intent for solid-state transformer orders with six organizations, including Dongyangguang, Guangdong Dashun Company, Guangdong Jurunda Group, Zhuhai Aoyue Youdian, Yangjiang Dingxingda, and Heyuan Lianhe Group. As the only company listed on the STAR Market under China Southern Power Grid, CSG Technology has formed a dual-wheel drive pattern of technical services plus smart equipment across the full industrial chain of source, grid, load, and storage, and has reserved technologies in the field of clean and low-carbon transformation of coal power, including deep peak shaving, oxygen-enriched combustion carbon capture, AI intelligent combustion, and rapid load variation.

Southern Network Technology plans to acquire a 100% stake in Guangzhou Yuenergy Electric Power Technology Development Co., Ltd. for 445 million yuan in cash, further consolidating testing and inspection assets within the China Southern Power Grid system. Yuenergy Electric Power is a leading provider of power-source-side and grid-side testing and inspection services in the Guangdong region, achieving operating revenue of 247 million yuan and net profit of 43.0741 million yuan in 2025. Southern Network Technology stated that testing, inspection, and commissioning services are one of its main businesses, and this acquisition aligns with its strategy of expanding performance scale and market influence through external mergers and acquisitions, helping to resolve horizontal competition and strengthen its market position in the Guangdong region. The transaction has received approval from the state-owned assets regulatory authority and still requires submission to the shareholders' meeting for deliberation. In addition, the four domestically listed platforms under China Southern Power Grid — Southern Network Energy, Southern Network Technology, Southern Network Energy Storage, and Southern Network Digital — have all proposed implementing interim dividends, advancing asset integration and shareholder returns simultaneously.

On the evening of July 31, several listed companies on the Shanghai and Shenzhen stock exchanges issued important positive announcements. Mentech Optical & Magnetic plans to issue shares to specific investors to raise no more than 1.283 billion yuan for projects including intelligent manufacturing of high-speed optical modules. Hongqiao Holdings plans a private placement to raise up to 12 billion yuan for wind power, photovoltaic, and aluminum deep processing projects. GigaDevice plans to repurchase shares worth 1 billion to 2 billion yuan and cancel them to reduce registered capital. Fullhan Microelectronics expects its net profit attributable to the parent company in the first half of 2026 to increase by 1,072.72% to 1,420.19% year-on-year. China National Nuclear Power's Liaoning Zhuanghe nuclear power project Units 1 and 2, and Zhejiang Jinqimen nuclear power project Units 3 and 4, have been approved by the State Council executive meeting. In addition, Southern Network Technology plans to acquire 100% equity of Yueneng Power for 445 million yuan, Shanghai Shineway plans to invest in the industrialization project of solid-liquid hybrid battery cells and solid electrolyte powder, and Inventronics announced that starting September 1, prices of some products will be raised by about 5% to 15% overall.

From July 23 to 24, a number of Shanghai-listed companies released positive news covering share buybacks and stake increases, upbeat earnings reports, improving operations, and interim dividends. In terms of buybacks and stake increases, 10 companies announced new buyback plans over the two days, with a combined proposed buyback cap of 1.89 billion yuan; 5 companies announced new stake increase plans, with a combined proposed increase cap of 351 million yuan. On the earnings front, about 15 Shanghai-listed companies issued positive half-year earnings reports. Among them, Orient Securities reported a 30.46% year-on-year rise in first-half net profit attributable to the parent company, EZVIZ Network grew 35.44%, and SINOMED is expected to surge 263.66%. Another three companies, including Minmetals New Energy, turned losses into profits. At the operational level, Weiming Environment Protection's subsidiary waste treatment projects saw cumulative power generation rise 8.96% year-on-year in the first half. Changhua Group received a designated development notice from a domestic new energy vehicle maker, with an estimated total sales value of about 740 million yuan over the product lifecycle. Pudong Construction saw multiple subsidiaries win major projects, with a total bid value of approximately 1.5 billion yuan. Regarding interim dividends, four Shanghai-listed companies—China Southern Power Grid Energy Storage, Zheshang Securities, China Southern Power Grid Technology, and Jinpan Technology—received interim dividend proposals or released interim dividend distribution plans. Zheshang Securities stated that its interim dividend payout ratio for this year will be no lower than its 2025 interim ratio, while Jinpan Technology's dividend amount will be no less than 30% of net profit attributable to shareholders of the listed company in the first half of 2026.

Southern Network Technology announced that Chairman Jiang Hailong has proposed formulating and implementing a 2026 interim dividend plan, on the premise of ensuring normal operations and long-term development, with the recommended dividend amount being no less than 40% of the net profit attributable to shareholders of the listed company for the first half of 2026.

ChangXin Memory Technologies announced its shares will list on the Shanghai Stock Exchange STAR Market on July 27, 2026, at an issue price of 8.66 yuan per share, with total post-IPO share capital of 66.881 billion shares. Puya Semiconductor expects net profit of approximately 825 million yuan in the first half of 2026, up 1,925.36 percent year-on-year, mainly driven by improved volumes and pricing for general-purpose memory chips. Montage Technology plans to repurchase A-shares for 300 million to 600 million yuan, at a maximum repurchase price of 332.90 yuan per share. China Railway Signal and Communication Corporation won eight major projects in May and June, with a total contract value of about 1.711 billion yuan, accounting for roughly 4.93 percent of its 2025 audited total operating revenue. In addition, the chairman of China Southern Power Grid Technology proposed a 2026 interim dividend of no less than 40 percent of first-half net profit, while several other companies including Haochen Software, Hanbang Technology, and Juyi Technology also disclosed buyback plans.