It means just right at two o'clock.Not a Minute More,Not a Minute Less.
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点整 = 点钟
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点整isn't a singel word.两点整have the same meaning as两点。but if we want to say two o'clock(a correct time),we usually use 两点整。if we just want to say (time)aroud two,just say 两点is ok.
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zero mins to 2, zero mins past 2, it's the very 2 o'clock