<h1>保变电气：2016年净利1.09亿 2017目标营收42.76亿元</h1>
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<span>2017-4-21 9:51:36</span>来源：<span>北极星电网</span>作者：<span></span>
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<li><b class="v2_content_ico04">导读：</b></li>
<li>保变电气2016年净利1.09亿 2017目标营收42.76亿元。</li>
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<li><b class="v2_content_ico05">关键字：</b></li>
<li>保变电气 特高压 智能电网保变电气：2016年净利1.09亿 2017目标营收42.76亿元</li>
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<div class="over_x"><p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">“十三五”期间，国内输变电行业将实现稳步增长，并呈现以下趋势：一方面，随着<b>特高压</b>、可再生能源技术的推进和电网建设投资的加大，在全国范围内实现资源优化配置的能源发展战略，输变电环中的柔性交流输电系统<font face="Calibri">(FACTS)</font><font face="宋体">、超高压特高压设备、特高压控制保护设备、智能变电站、数字化变电站前景巨大</font><font face="Calibri">;</font><font face="宋体">另一方面，随着新型城镇化、工业转型升级、农业现代化、电力改革步伐加快，新能源、智能电网、智慧城市、物联网、分布式能源、微网、电动汽车、储能装置快速发展，终端用电负荷呈现增长快、变化大、多样化的新趋势，下一步电网投资的重点也将向配电网转移，配电设备的增速将是输电设备的 </font><font face="Calibri">2 </font><font face="宋体">倍，</font><font face="Calibri">2020 </font><font face="宋体">年将全面建成“结构合理、技术先进、灵活可靠、经济高效”的现代配电网。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">预计到</font> 2020 <font face="宋体">年，我国将基本建成坚强智能电网，实现新能源发电与电网协调经济运行，电网优化配置资源能力和电网资产管理水平全面提升</font><font face="Calibri">;</font><font face="宋体">面向智能电网的运行管理体系进一步完善，智能电网双向互动服务全面推广，电网智能化达到国际领先水平。“十三五”期间，我国电力投资将达 </font><font face="Calibri">7.1 </font><font face="宋体">万亿元，保守预计智能电网建设领域投资将达 </font><font face="Calibri">3500 </font><font face="宋体">亿元</font><font face="Calibri">(</font><font face="宋体">按占电网投资 </font><font face="Calibri">10%</font><font face="宋体">预计，与“十二五”比例持平</font><font face="Calibri">);</font><font face="宋体">新增特高压投资 </font><font face="Calibri">1560 </font><font face="宋体">亿元，其中 </font><font face="Calibri">1000kV </font><font face="宋体">交流特高压 </font><font face="Calibri">419 </font><font face="宋体">亿元，±</font><font face="Calibri">800kV </font><font face="宋体">直流特高压 </font><font face="Calibri">1075 </font><font face="宋体">亿元，±</font><font face="Calibri">500kV </font><font face="宋体">直流超高压 </font><font face="Calibri">66 </font><font face="宋体">亿元</font><font face="Calibri">(</font><font face="宋体">数据来源：中电联《中电联发布电力工业“十二五”规划滚动研究综述报告》、国家电网公司“十二五”智能化规划及联合证劵信息</font><font face="Calibri">)</font><font face="宋体">。同时，我国输变电行业产值将达到 </font><font face="Calibri">2.2 </font><font face="宋体">万亿，装备关键零部件自主化率达到 </font><font face="Calibri">80%</font><font face="宋体">以上，输变电成套装置出口比重超过 </font><font face="Calibri">20%(</font><font face="宋体">数据来源：电器工业协会</font><font face="Calibri">)</font><font face="宋体">。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">2016 <font face="宋体">年，尽管面对世界经济和贸易增速 </font><font face="Calibri">7 </font><font face="宋体">年来最低、国际金融市场波动加剧、地区和全球性挑战突发多发等不利外部环境，我国国内整体经济运行仍然保持了缓中趋稳、稳中向好的态势，重要领域和关键环节改革取得突破性进展，供给侧结构性改革初见成效，对外开放推出新举措， “一带一路”建设进展快速。受此影响，国内输变电产业增速也逐步上升，电网投资同比增长 </font><font face="Calibri">16.9%</font><font face="宋体">，但行业竞争依然激烈，产业结构亟待升级。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体"><b>保变电气</b></font></span></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">2016<font face="宋体">年度实现营业收入</font><font face="Calibri">40.68</font><font face="宋体">亿元，同比增长</font><font face="Calibri">1.02%</font><font face="宋体">，营业成本</font><font face="Calibri">31.06 </font><font face="宋体">亿元，同比降低</font><font face="Calibri">5.89%</font><font face="宋体">，综合毛利率同比增加</font><font face="Calibri">5.60 </font><font face="宋体">个百分点。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span><img height="390" src="file:///C:/DOCUME~1/wangling/LOCALS~1/Temp/ksohtml/wps157.tmp.png" width="600" alt="" /></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">分季度情况：</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span><img height="203" src="file:///C:/DOCUME~1/wangling/LOCALS~1/Temp/ksohtml/wps158.tmp.png" width="600" alt="" /></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司所处的行业为电力工业的</font></span><span><a title="输变电装备新闻专题" href="http://www.chinasmartgrid.com.cn/topic/%E8%BE%93%E5%8F%98%E7%94%B5%E8%A3%85%E5%A4%87"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">输变电装备</font></span></a></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">制造业，是国民经济的基础，主营产品</font></span><span><a title="变压器新闻专题" href="http://www.chinasmartgrid.com.cn/topic/%E5%8F%98%E5%8E%8B%E5%99%A8"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">变压器</font></span></a></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">行业属于资金和技术密集型行业，产品品种规格多，成套性和系统性强，随着经济发展和科技水平的提高，其产品技术含量和附加值越来越高。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">近年来，随着国家电力事业的发展和综合国力的持续提升，国产电力设备的设计制造以及技术性能水平有较大提高，很多主要产品的性能达到国际先进，部分产品达到国际领先水平。特别是在输变电设备研发、生产方面，成绩突出。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">在输变电设备领域，随着一大批重点输变电工程的建设，设备制造企业的技术水平和国产化能力不断提升。目前，</font>500kV<font face="宋体">、</font><font face="Calibri">750kV </font><font face="宋体">超高压输变电设备已全面实现国产化，基本实现±</font><font face="Calibri">800kV </font><font face="宋体">、</font><font face="Calibri">1000kV </font><font face="宋体">特高压输变电设备国产化的目标，国内输变电装备制造业的技术水平和整体素质得以大幅提升。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">未来输变电设备制造企业的技术主要向以下四个方向发展：一是特高压</font>;<font face="宋体">二是智能化</font><font face="Calibri">;</font><font face="宋体">三是节能、环保设备</font><font face="Calibri">;</font><font face="宋体">四是系统集成技术，向集约化发展。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">展望</font> 2017 <font face="宋体">年，世界经济增长低迷态势仍在延续，主要经济体政策走向及外溢效应变数较大，不稳定不确定因素明显增加。根据 </font><font face="Calibri">IMF </font><font face="宋体">预测，</font><font face="Calibri">2017 </font><font face="宋体">年全球增长率将达到 </font><font face="Calibri">3.4%</font><font face="宋体">，而这其中主要支撑因素是新兴市场和发展中经济体增长预期加快。《</font><font face="Calibri">2017 </font><font face="宋体">年政府工作报告》中对我国今年发展的主要预期目标是：国内生产总值增长 </font><font face="Calibri">6.5%</font><font face="宋体">左右。预计未来随着能源供给侧结构性改革的持续深化和 “中国制造 </font><font face="Calibri">2025</font><font face="宋体">”的深入实施，输变电行业内的制造厂商将面临新的机遇与挑战。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">国内方面，对于输变电产业制造厂家而言，随着</font>“十三五”期间智能电网进入全面建设阶段，驱动一次设备和二次设备积极融合<font face="Calibri">;</font><font face="宋体">从单机向组合、成套设备供应升级，未来 </font><font face="Calibri">EPC </font><font face="宋体">需求也将有所增加</font><font face="Calibri">;</font><font face="宋体">随着行业市场容量的逐步饱和与产能过剩的压力，发展海外市场势在必行。具体表现为：</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">1<font face="宋体">、行业整合加速，市场集中度表现为不断提高的趋势</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">目前输变电设备行业市场充分竞争，产能过剩，存在巨大的市场整合空间和动力。未来通过兼并重组，减少重复投资，加快淘汰落后产能，市场竞争格局面临洗牌或整合，行业集中度将提高。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">2<font face="宋体">、产品技术综合化，产品性能高可靠化、产品运行智能化趋势明显</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">未来电力设备研发将呈现复合化、网络化、虚拟化和全球化等趋势。输电环节向高压直流输电、柔性交流输电和紧凑型输电发展，呈现出电压等级高压化、设备大容量化特点</font>;<font face="宋体">变电环节呈现电力设备产品集成化、智能化趋势</font><font face="Calibri">;</font><font face="宋体">配电环节主要呈现系统高可靠性、免维护、智能化趋势。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">3<font face="宋体">、从单一产品销售向组合、成套供应及系统集成化方向发展</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">组合设备与成套设备供应已成为国内输变电行业的发展趋势。为适应国际市场对输变电技术和产品的捆绑式业务需求与趋势，输变电设备制造企业面临从单机销售向组合、成套设备供应升级的趋势。提供设备、系统集成与技术服务的综合提供商将占据市场主导地位。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">国际方面，</font>“十三五”期间，虽然世界经济、政治形势复杂多变，不稳定因素和风险因素依然突出，但国际经济整体上在缓慢复苏，民用、商用及工业用电量开始回升，全球输配电设备制造行业保持较快发展态势，未来 <font face="Calibri">5 </font><font face="宋体">年预计海外市场将保持年均 </font><font face="Calibri">7%</font><font face="宋体">的增长。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">2017<font face="宋体">年保变电气的发展战略</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">“十三五”期间，保变电气将以国家电力工业发展指导，以国内外市场需求为导向，聚焦资源、聚焦主业，保持变压器产品核心技术行业领先，同时抓住整合机遇，择机进入一二次设备、系统集成及总包等其他输变电业务领域，完善产业链。</span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">保变电气要充分利用优质资源，聚焦主业，深层挖掘发展潜力，以</font>“一体四翼”为引领，以全面深化改革为动力，坚持创新驱动、质量为先、提质增效，大力实施以能力提升和可持续发展为根本的发展战略，推动企业转型升级和多元化发展<font face="Calibri">;</font><font face="宋体">坚持市场化、专业化、国际化的发展方向，提高自主创新能力和核心竞争力，推动技术升级、产业升级，完成“四个转变”，提升输变电产业战略地位和行业影响。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">经营计划</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">2017 <font face="宋体">年保变电气预计实现营业收入</font><font face="Calibri">42.76 </font><font face="宋体">亿元，营业成本 </font><font face="Calibri">33.82 </font><font face="宋体">亿元。为了确保完成上述工作任务和目标，公司 </font><font face="Calibri">2017 </font><font face="宋体">年的工作措施主要有：</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">1<font face="宋体">、按照“十三五”规划调整产业布局，加快转型升级</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是推进重点项目建设。二是加快推动</font> EPC <font face="宋体">落地和产品智能化工作。三是抓好信息化管理和信息化项目建设。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">2<font face="宋体">、不断完善内部专项管理，促进企业健康发展</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是不断完善供应链管理和生产管理。二是强化质量管理，完善质量管理体系和核电质保体系。三是进一步抓好成本管理，推进目标成本管理体系建设。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">3<font face="宋体">、市场拓展寻求突破，不断提升销售业绩</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是高度重视企业资质建设。要以充分调动子公司优势资源、扩大目标市场份额为核心，加快推进企业资质建设。二是积极抢抓国内市场订单。巩固提升两网和电源市场份额，巩固特高压优势地位。三是紧抓</font>“一带一路”战略机遇积极走出去。</span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">4<font face="宋体">、更加注重技术创新与管理，提升企业核心竞争力</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是依托研究院建设项目推进标准化设计。二是加强关键技术攻关。一方面，针对核心技术体系中的短板和重点，开展一批重点科研项目，加强内部技术攻关，提升核心技术优势</font>;<font face="宋体">另一方面，针对理论性强、与电力系统关联密切的科研项目，强化产学研合作，解决企业产品、技术中的重点、难点和瓶颈问题。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">5<font face="宋体">、抓好重点专项改革，持续释放发展动力</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是深化管理体系建设。以核心业务为切入点，系统梳理业务事项，重点解决管理流程存在的问题，形成端到端的控制路线图。二是以完善激励机制为核心深入推进三项制度改革。三是按计划推进</font>“处僵治困”及“压减”工作。四是注重财务共享服务平台的应用。</span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">6<font face="宋体">、抓好资源结构的整合优化 不断提升资产效率</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是充分利用上市平台开展资源整合。二是持续优化资产负债结构。充分利用债务清理、盘活存量资产。三是全面加强子公司治理。深入做好子公司的资产、产权管理方面的巡查管控。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">7<font face="宋体">、抓好总体大局稳定保障工作，确保公司行稳致远</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是抓好风险管控。二是推进内部审计。三是全力确保安全生产。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">众所周知，保变电气主营输变电业务，主要为大型电力变压器及配件的制造与销售。经营范围包括变压器、互感器、电抗器等输变电设备及辅助设备、零售部件的制造与销售</font>;<font face="宋体">输变电专用制造设备的生产与销售等。输变电业务是公司的传统优势业务，尤其在高电压、大容量变压器制造领域具有较强的市场竞争力，公司主导产品为 </font><font face="Calibri">220kV-1000kV </font><font face="宋体">超高压、大容量变压器，经过多年在技术方面的巨大投入和开展卓有成效的技术开发、技术引进和技术改造工作，公司已掌握了上述变压器产品的设计、制造及试验技术，从而使公司产品的技术水平达到或接近国际先进，并且处于国内领先地位。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">2016<font face="宋体">年公司生产所用的主要原材料有硅钢片、电磁线、变压器油、油箱等，其采购由设计、检验、供应把关，对供货方认真进行评价，在保证按合同要求、技术要求和质量的前提下，实行比价采购，对原材料物资实行分类管理，控制合理的库存量，通过材料工艺定额，严格控制材料消耗，实现原材料采购、消耗和库存的动态管理。公司通过对生产计划、采购计划和物料库存进行合理的预测、安排，努力降低采购成本和资金占有成本，既保证生产供应，又减少库存浪费，从而提高产品的竞争力。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司主要生产模式：由制造中心根据产品合同所规定的交货期及产品的运输周期，确定产品的完工及发货时间，根据生产周期倒排，确定所有产品的排产计划，排产计划可细化到图纸设计下发、原材料采购到位、生产投产时间和完工时间、产品包装与发运等所有工序与流程，各职能部门严格按照综合计划开展各项工作，生产部门根据排产计划细化各产品生产过程，包括各加工工序的开工与完工、产品的检验与试验、产品总装配、以及包装等，从生产过程控制产品进度，保证产品实现有效控制。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司的销售业务分为国内销售和出口销售两部分，国内销售统一由营销公司负责，出口销售统一由进出口公司负责。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司的销售模式主要以直销为主，辅以极少量的代销模式，这种销售模式可以最大限度地减少销售中的信用纠纷、保证货款及时回收。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">核心竞争力分析</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">保变电气是我国大型高端变压器生产的核心企业之一，产品涵盖范围广，在高电压、大容量变压器制造领域具有突出的技术优势。公司的核心竞争力主要表现在以下几点：</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">规模优势：目前公司已形成了以保定制造中心为核心，秦皇岛出海口基地、合肥工厂为支撑的变压器产业群，产销规模的持续扩大和产品结构的不断优化使公司在国内变压器市场的占有率稳步提升，目前公司已成为国家电网和南方电网采购特高压交直流变压器产品的主要供应商之一，公司在核电变压器领域具有突出的品牌优势，市场占有率较高，公司在国内是少数能向北美发达国家市场出口大容量调相变压器的企业之一。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">技术优势：公司在高电压、大容量变压器制造方面拥有成熟的设计和制造技术，经过多年在技术方面的持续投入、技术开发、技术引进和技术改造工作，公司已掌握了上述变压器产品的设计、制造及试验技术，从而使公司产品的技术水平接近或达到国际先进水平，并处于国内领先地位。公司自行开发设计了多项大型变压器专项制造装备，形成了一批专有制造技术，这些技术在生产中的应用有效地保证了高电压、大容量变压器产品质量的稳定性。此外公司还在智能电网领域实现突破，通过大型智能电力变压器的研究及产业化项目实现了智能电力变压器批量生产的能力。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">产品质量优势：公司成立以来一直致力于产品质量和稳定性的提高，使得公司产品的可靠性在广大电力行业用户中享有很高的信誉。公司承制的</font> 220kV<font face="宋体">、</font><font face="Calibri">330kV</font><font face="宋体">、</font><font face="Calibri">500kV</font><font face="宋体">、</font><font face="Calibri">750kV </font><font face="宋体">变压器运行可靠性指标稳居世界同行业前列</font><font face="Calibri">;</font><font face="宋体">公司为北美发达国家市场生产的大容量调相变压器的质量稳定性达到国际水准。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">人才优势：公司拥有一支由多位资深博士、专家以及各界精英人士组成的科研团队、管理团队以及产业技工团队，具备较强的科技创新、经营管理以及生产制造经验，能为公司的持续发展提供有力的人才保障。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">经营情况讨论与分析</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">2016 <font face="宋体">年，保变电气坚持“深化改革、加快发展”两大导向，不断深化改革，大力拓展市场，持续推进科技创新，比较圆满地完成了 </font><font face="Calibri">2016 </font><font face="宋体">年各项工作。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">报告期内，公司着重开展了以下几个方面的工作：</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(<font face="宋体">一</font><font face="Calibri">)</font><font face="宋体">着力深化改革，积蓄企业发展活力</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是明确改革总方向。编制下发了《保变电气</font>“十三五”发展规划<font face="Calibri">(</font><font face="宋体">纲要</font><font face="Calibri">)</font><font face="宋体">》。二是推进管控模式和管控体系改革。优化精简组织机构，推进集成管理体系</font><font face="Calibri">(</font><font face="宋体">简称 </font><font face="Calibri">BEMS)</font><font face="宋体">建设，逐步规范对子公司的管控模式。三是持续推进三项制度改革。成立三项制度改革工作领导小组和监督工作小组，颁布了《三项制度改革人员结构优化调整工作实施方案》等顶层制度。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(<font face="宋体">二</font><font face="Calibri">)</font><font face="宋体">稳步提升市场业绩，提振企业发展信心</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是保持特高压交直流市场的优势地位。二是电源市场获得较大回升。三是特色市场取得突出成效。四是以</font>“一带一路”战略为契机，不断拓展海外市场。</span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(<font face="宋体">三</font><font face="Calibri">)</font><font face="宋体">加强技术创新，提升产品竞争优势</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是不断提升自主创新能力。成立了科技创新工作领导小组，构建形成了输变电</font>“<font face="Calibri">515</font><font face="宋体">”关键核心技术体系。二是研究院建设稳步推进。三是重点科研项目有序开展，实施从课题征集到成果评价的全周期闭环管理。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(<font face="宋体">四</font><font face="Calibri">)</font><font face="宋体">抓好提升运营质量各项工作，促进公司良性发展</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是积极融资，努力优化资本结构，积极筹措资金。二是加强经营性现金流管控，努力降低资金占用。强化合同管理，及时回收应收账款。三是强化亏损面治理。制定</font>“一厂一策”，逐一签订责任书。四是加快处置低效无效资产。五是以构建价格管理体系为抓手，强化成本管控。成立了公司价格管理组织机构，强化价格管理<font face="Calibri">;</font><font face="宋体">构建以项目成本管理为核心的成本管理体系。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(<font face="宋体">五</font><font face="Calibri">)</font><font face="宋体">规范专项管理，提升企业综合能力</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是以供应链管理为基础完善生产过程管控。二是全方位抓好质量管理。重视公司质量管控体系的提升。三是法务管理取得明显成效。四是更加注重全面风险管理及内审工作。五是高度重视信息化建设，推进信息化项目建设。六是狠抓安全生产管理，全年未发生重伤及以上安全事故。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(<font face="宋体">六</font><font face="Calibri">)</font><font face="宋体">抓好重大项目建设，促进公司转型升级</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">一是统筹推进项目建设，按计划完成注资。二是突出抓好具体项目建设，注重管理经验的积累。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">2016<font face="宋体">年保变电气主要经营情况</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">2016 <font face="宋体">年，保变电气以“一体四翼”为引领，以全面深化改革为动力，坚持创新驱动、质量为先、提质增效，大力实施以能力提升和可持续发展为根本的发展战略，公司生产经营态势良好。公司全年实现营业收入 </font><font face="Calibri">40.68 </font><font face="宋体">亿元，同比增长 </font><font face="Calibri">1.02%;</font><font face="宋体">归属于上市公司股东的净利润 </font><font face="Calibri">1.09 </font><font face="宋体">亿元，同比增长 </font><font face="Calibri">20.38%</font><font face="宋体">。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(<font face="宋体">一</font><font face="Calibri">)</font><font face="宋体">主营业务分析</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">利润表及现金流量表相关科目变动分析表</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span><img height="58" src="file:///C:/DOCUME~1/wangling/LOCALS~1/Temp/ksohtml/wps159.tmp.png" width="603" alt="" /></span><span><img height="129" src="file:///C:/DOCUME~1/wangling/LOCALS~1/Temp/ksohtml/wps15A.tmp.png" width="603" alt="" /></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">1. <font face="宋体">收入和成本分析</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司</font> 2016 <font face="宋体">年度实现营业收入 </font><font face="Calibri">40.68 </font><font face="宋体">亿元，同比增长 </font><font face="Calibri">1.02%</font><font face="宋体">，营业成本 </font><font face="Calibri">31.06 </font><font face="宋体">亿元，同比降低 </font><font face="Calibri">5.89%</font><font face="宋体">，综合毛利率同比增加 </font><font face="Calibri">5.60 </font><font face="宋体">个百分点。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(1). <font face="宋体">主营业务分行业、分产品、分地区情况</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span><img height="398" src="file:///C:/DOCUME~1/wangling/LOCALS~1/Temp/ksohtml/wps15B.tmp.png" width="600" alt="" /></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(2). <font face="宋体">产销量情况分析表</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span><img height="59" src="file:///C:/DOCUME~1/wangling/LOCALS~1/Temp/ksohtml/wps15C.tmp.png" width="605" alt="" /></span><span><img height="18" src="file:///C:/DOCUME~1/wangling/LOCALS~1/Temp/ksohtml/wps15D.tmp.png" width="604" alt="" /></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(3). <font face="宋体">成本分析表</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span><img height="382" src="file:///C:/DOCUME~1/wangling/LOCALS~1/Temp/ksohtml/wps15E.tmp.png" width="600" alt="" /></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">研发投入</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">研发投入情况表</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span><img height="134" src="file:///C:/DOCUME~1/wangling/LOCALS~1/Temp/ksohtml/wps15F.tmp.png" width="603" alt="" /></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">情况说明</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司</font> 2016 <font face="宋体">年度研发投入主要在以下几个方面：</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(1)1000 <font face="宋体">千伏交流特高压变压器现场组装结构和模块化设计技术研究</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司投入</font> 37,565,672.59 <font face="宋体">元人民币，针对 </font><font face="Calibri">1000 </font><font face="宋体">千伏交流特高压变压器采用现场组装式的铁心磁路结构、消磁线圈结构、厂内工艺加工和现场安装工艺技术，以及特高压变压器的模块化设计结构、线饼内轴向散热油路结构、绝缘系统沿面爬电结构等关键技术进行研究。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(2)750 <font face="宋体">千伏级大容量高阻抗自耦变压器绝缘及磁热共性技术研究</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司投入</font>19,275,253.55<font face="宋体">元人民币，针对</font><font face="Calibri">750</font><font face="宋体">千伏大容量高阻抗自耦变压器的铁心接地结构、磁屏蔽和电屏蔽结构、器身散热结构、导油管路材料特性及结构，以及方便运输的油箱结构等关键技术进行研究。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(3)<font face="宋体">超高压发电机主变压器关键技术研究及产品研制</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司投入</font> 55,687,177.81 <font face="宋体">元人民币，针对 </font><font face="Calibri">500 </font><font face="宋体">千伏到 </font><font face="Calibri">800 </font><font face="宋体">千伏绝缘等级的超高压三相一体发电机主变的屏蔽结构和防止局部过热技术、铁心叠片夹紧结构、模块化预装式引线结构、以及器身压紧防松结构等关键技术进行研究。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(4)<font face="宋体">特大容量换流变压器核心技术研究及产品研制</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司投入</font> 9,967,163.22 <font face="宋体">元人民币，针对特大容量换流变压器的阀侧引线、网侧引线绝缘及结构设计，绕组热点及结构件局部过热的控制，换流变压器温升的控制，冷却装置的整体冷却能力，线圈纵绝缘及沿面爬电问题等关键技术进行了研发。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">(5)1000kV <font face="宋体">单主柱大容量并联电抗器关键技术研究</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司投入</font> 10,767,885.66 <font face="宋体">元，在总结 </font><font face="Calibri">1000kV </font><font face="宋体">并联电抗器研制经验的基础上，针对大容量单主柱电抗器在磁场、散热、振动等方面的技术难点，进行专项分析研究，解决了大容量并联电抗器的发热、温升和噪声问题。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">可能面对的风险</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">1<font face="宋体">、行业和竞争风险</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">随着输变电制造企业研发、制造能力的不断提高，国内输变电设备制造企业产能过剩、价格竞争局面依然存在，变压器市场竞争愈加激烈。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">应对措施：公司将转变营销模式，努力开拓市场，抢抓优质订单，提高市场占有率</font>;<font face="宋体">全面推行降本增效，从设计、采购、制造等全价值链严格控制成本，提高产品盈利能力</font><font face="Calibri">;</font><font face="宋体">严抓产品质量，以质量优势抢占高端市场。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">2<font face="宋体">、资金风险</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">受行业特点影响，货款回收滞后于各项生产投入，公司存在资金短缺风险。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">应对措施：合理安排资金调配，推行降本增效，努力提升产品盈利能力，减少资金占用</font>;<font face="宋体">推进资金预算管控机制，严控资金支出，确保资金链安全</font><font face="Calibri">;</font><font face="宋体">提高运营效率，加快资金周转。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">3<font face="宋体">、原材料价格波动风险</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">公司变压器产品的主要原材料包括硅钢片、铜、变压器油、钢材等的价格波动会直接影响公司的生产成本，进而对公司的盈利水平造成影响。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">应对措施：公司将继续提高原材料采购管理水平，借助信息化技术和专业化管理，优化公司原材料采购流程和生产排产计划，同时加强与原材料供货上的战略合作关系，通过管理信息化、采购集成化、排产科学化等举措有效降低原材料价格波动风险。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'">4<font face="宋体">、应收账款及存货风险</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" align="justify" style="text-justify: inter-ideograph; margin: 0pt; text-indent: 21pt; line-height: 125%; text-autospace: ideograph-numeric; text-align: justify; mso-para-margin-right: 0.0000gd; mso-para-margin-left: 0.0000gd; mso-char-indent-count: 2.0000; mso-pagination: none"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">受整体经济增速放缓影响，国内市场货款回收难度有所增加。</font></span><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin: 0pt"><span style="font-size: 10.5pt; font-family: 宋体; mso-spacerun: 'yes'; mso-font-kerning: 1.0000pt; mso-ascii-font-family: Calibri; mso-hansi-font-family: Calibri; mso-bidi-font-family: 'Times New Roman'"><font face="宋体">应对措施：从制度建设和能力提升两方面入手，加强客户信用和订单评价管理，使管控前移</font>;<font face="宋体">对应收存货形成的业务动因进行有效管控，压缩应收存货总体规模，不断提高应收存货的周转效率，保证应收存货不断下降。</font></span><!--EndFragment--></p>
<p>(关键字：保变电气 特高压 智能电网保变电气：2016年净利1.09亿 2017目标营收42.76亿元)</p></div>
<div class="v2_comtent_info04">（责任编辑：00886）</div>