With the spring tide surging forward, we embark on a new journey and strive to set new benchmarks through practical action. Under the strong leadership of the Municipal Party Committee and the Municipal People’s Government, and guided meticulously by the Municipal State-owned Assets Supervision and Administration Commission, Harbin Industrial Investment Group has firmly anchored itself in the development blueprint outlined in the 15th Five-Year Plan. Steadfastly focused on achieving a strong start in the first quarter, the Group has intensified its efforts, pressed ahead with determination, and delivered concrete results—approaching every key task with a spirit of relentless pursuit and a drive to seize opportunities. Starting today, the Group’s official WeChat account will roll out a series of reports on this “strong start,” spotlighting the hands-on, results-oriented initiatives of its subsidiaries, capturing the vibrant energy of frontline production, highlighting compelling examples of innovative development, and presenting a comprehensive picture of the Group’s unified resolve and vigorous momentum as all levels work together to forge ahead. Through such efforts, we aim to further galvanize the powerful collective drive needed to advance the 15th Five-Year Plan and, by pursuing pragmatic action with unwavering commitment, propel the Group’s high-quality development to new heights.

In the first quarter, Harbin Transformer Company resolutely implemented the strategic plans of the Industrial Investment Group, adopting a vigorous spirit of “starting with a sprint and securing victory from the outset” to strive for excellence and comprehensively deploy its 2026 production and business operations. The company has set its sights on the “1155” work objectives, with a particular focus on the core task of achieving an output value exceeding RMB 1.2 billion. All employees and management have embraced a pragmatic approach and a spirit of innovation, making breakthroughs in key areas such as production and operations, technological innovation, market development, and intelligent manufacturing, thereby delivering a standout “strong start” that lays a solid foundation for achieving the year’s overall targets.

I. Intensifying Production Efforts to Enhance Quality and Efficiency, Achieving Record-Breaking Capacity Utilization

Goals provide direction, and pragmatic action paves the way for brilliance. Harbin Transformer Company remains steadfast in pursuing its annual objectives, meticulously breaking down targets, optimizing production scheduling, and strengthening interdepartmental collaboration. By fostering efficient coordination to overcome bottlenecks and by applying precise, targeted efforts to unblock chokepoints, the company is fully accelerating production.

Seizing the critical window during the Spring Festival, Harbin Transformer Company completed a comprehensive upgrade and renovation of nearly 3,000 square meters of workshop flooring, replacing the entire floor with steel plates and applying standardized, uniform coatings. The upgraded physical environment has been completely revitalized, laying a solid foundation for swiftly reaching full production capacity after the holiday. In the first quarter, production performance was robust, with both total transformer capacity and the number of units delivered increasing in tandem. Multiple production lines operated at full capacity and with high efficiency, key projects progressed in parallel, and both capacity utilization and production efficiency hit new record highs—providing strong assurance for on-time, quality delivery of orders and underscoring Harbin Transformer’s formidable capabilities.

Market development is flourishing across multiple fronts, with a steady stream of positive news. Harbin Transformer Co., Ltd. is deeply rooted in State Grid Corporation of China’s core market, concentrating its efforts on breaking through in the northwestern new-energy markets of Gansu, Ningxia, Shaanxi, Qinghai, and Xinjiang, while simultaneously expanding into overseas markets. The company has deepened strategic partnerships with numerous countries, including Zambia, Kazakhstan, Nepal, Thailand, Malaysia, and Saudi Arabia, fostering mutual reinforcement between domestic and international dual circulation and injecting strong momentum toward the achievement of its full-year revenue targets.

II. Technological Upgrades Empower Quality Improvement and Efficiency Gains, with Another Leap Forward in Intelligent Manufacturing

Boosting momentum through technological upgrading and enhancing quality and efficiency through innovation. Harbin Transformer Co., Ltd. is focusing on intelligent, green transformation and is accelerating the upgrade of its smart, environmentally friendly transformer manufacturing capabilities. The company has successively introduced advanced equipment such as laser cutting machines, automated welding systems, intelligent winding machines, and insulation-component machining centers, while completing the digital transformation of legacy equipment and iterative upgrades to its ERP system. These efforts are driving smarter production, lower carbon emissions, and higher product quality.

With the large-scale deployment of intelligent equipment and the continuous optimization of production processes, the company has steadily advanced its digitalization and intelligence levels, resulting in a sustained decline in product defect rates and highly precise, efficient quality control. This established state-owned enterprise has burst forth with new vitality and presented a fresh image, continuously strengthening its core competitiveness and advancing with firm, unstoppable momentum in the power equipment manufacturing sector.

With renewed vigor and determination, we set sail on a new journey and seize the momentum to strive for even greater achievements. Standing at this new starting point, Harbin Transformer Co., Ltd. will draw strength from its strong start in the first quarter, remain steadfast in pursuing its annual targets, continuously cultivate new drivers of productivity, deepen market penetration, strengthen innovation, and refine management practices—all in an all-out effort to propel high-quality enterprise development and make a more substantial contribution to the transformation and upgrading of China’s power equipment manufacturing industry.

All subsidiaries of Harbin Industrial Investment Group are operating at full capacity, firmly aligned with the strategic goal of fostering new-quality productivity. They are concentrating their efforts on enhancing operational and production quality and boosting project construction efficiency, resulting in a wave of breakthroughs and frequent good news. As a result, the Group has achieved robust performance across all business lines, accelerated progress on key projects, and secured a strong start to the first quarter—laying a solid foundation for achieving its “15th Five-Year Plan” development targets and driving high-quality growth throughout the year. Through concrete actions and tangible results, the state-owned enterprise is demonstrating its sense of mission and responsibility.