Core Viewpoint - The photovoltaic industry is experiencing positive developments driven by new regulatory measures aimed at energy consumption standards, which are expected to lead to industry transformation and consolidation [1][2][3]. Group 1: Regulatory Developments - The National Development and Reform Commission and the State Administration for Market Regulation have drafted a consultation document on the revision of the Price Law, which is currently open for public feedback [1]. - The Ministry of Industry and Information Technology has issued a special energy-saving inspection task list for the polysilicon industry for 2025, focusing on "comprehensive energy consumption per unit product" as a key inspection criterion [2]. Group 2: Industry Transformation - The energy consumption standards and strict inspections are expected to accelerate the elimination of outdated production capacity, optimizing industry competition structure and resource allocation [2]. - Companies that fail to meet new energy consumption standards may face elimination or mandatory rectification, which will enhance overall industry efficiency [1][2]. Group 3: Technological Upgrades - The push for higher energy consumption standards will compel companies to invest more in cost reduction and efficiency-enhancing technologies, as well as to adopt green electricity to lower carbon emissions [2][3]. - This shift is anticipated to increase the proportion of green electricity used in the industry, supporting the overall green and low-carbon development goals of the photovoltaic sector [2]. Group 4: Market Dynamics - The exit of inefficient production capacity and potential tightening of new capacity approvals are expected to suppress the supply expansion of polysilicon, while global photovoltaic installation demand remains robust [3]. - This dynamic improvement in supply and demand is likely to reverse the recent trend of oversupply and declining prices, leading to a recovery in product prices and profitability for companies in the photovoltaic industry [3]. Group 5: Industry Index and ETF - The CSI Photovoltaic Industry Index (931151) has shown a positive performance, with significant gains in constituent stocks such as Sungrow Power (300274) and LONGi Green Energy (601012) [1][4]. - The index reflects the overall performance of listed companies involved in the photovoltaic industry chain, with the top ten weighted stocks accounting for 56.16% of the index [4].

天眼查资料显示，双良节能系统股份有限公司，成立于1995年，位于无锡市，是一家以从事通用设备制 造业为主的企业。企业注册资本187066.1251万人民币。通过天眼查大数据分析，双良节能系统股份有 限公司共对外投资了14家企业，参与招投标项目1376次，财产线索方面有商标信息9条，专利信息824 条，此外企业还拥有行政许可72个。 金融界2025年8月6日消息，国家知识产权局信息显示，双良节能系统股份有限公司取得一项名为"一种 旋风式油分离器"的专利，授权公告号CN223191887U，申请日期为2024年09月。 专利摘要显示，本实用新型涉及一种旋风式油分离器，包括筒体、进气管、出气管、上隔板和下隔板， 筒体内设有上隔板和下隔板，所述上隔板将筒内分隔成扩压段和油分段，上部的扩压段和下部的油分段 通过升气管连通，所述下隔板又将油分段分为上部的分离段和下部的油槽段，所述进气管与分离段连 通，出气管与扩压段连通，所述扩压段设有扩压叶片。本实用新型在保证油分效率的前提下，通过回收 动压减少了旋风式油分的压力损失，进而降低压缩机压比从而提升制冷系统能效。 ...

Core Points - The company held its seventh temporary board meeting on August 5, 2025, where it approved a capital increase to its wholly-owned subsidiaries [1][2] - A third temporary shareholders' meeting is scheduled for August 21, 2025, to discuss the approved capital increase [5][6] Group 1: Capital Increase - The company plans to increase capital in its wholly-owned subsidiaries, including Douliang Silicon Materials (Baotou) Co., Ltd. and Hengli Crystalline Silicon New Materials (Inner Mongolia) Co., Ltd. [20] - The total amount for the capital increase is not to exceed 2 billion RMB, with Douliang Silicon Materials receiving up to 1.2 billion RMB and Hengli Crystalline Silicon receiving up to 800 million RMB [20][21] - The capital increase aims to optimize the asset-liability structure and support operational needs [20][21] Group 2: Shareholders' Meeting - The shareholders' meeting will utilize a combination of on-site and online voting methods [6][10] - The meeting will take place at the company's headquarters in Jiangyin City, Jiangsu Province [6] - Shareholders must register to attend the meeting, with registration open from August 19, 2025 [14][15]

八届董事会2025年第七次临时会议决议公告 证券代码：600481 证券简称：双良节能 编号：2025-044 转债代码：110095 转债简称：双良转债 双良节能系统股份有限公司 双良节能系统股份有限公司 二〇二五年八月六日 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 双良节能系统股份有限公司（以下简称"公司"）于 2025 年 8 月 4 日以书面 送达及口头方式向各位董事发出召开公司八届董事会 2025 年第七次临时会议的 通知，会议于 2025 年 8 月 5 日以现场结合通讯方式召开，会议应出席董事 8 名， 实际出席董事 8 名。会议召开符合《公司法》等有关法律、法规、规范性文件和 《公司章程》的规定。会议由董事长缪文彬先生主持，审议并通过了如下议案： （1）审议通过《关于向全资孙公司增资的议案》 表决结果：同意：8 票，反对：0 票，弃权：0 票 详情请见同日公司于上海证券交易所网站（www.sse.com.cn）及指定媒体披 露的相关公告（公告编号 2025-045）。 （2）审议通过《关于召开 20 ...

证券日报网讯8月5日晚间，双良节能（600481）发布公告称，公司将于2025年8月21日召开2025年第三 次临时股东大会。本次股东大会将审议《关于向全资孙公司增资的议案》。 ...

Group 1 - The company, Shuangliang Energy, announced the convening of its eighth board meeting on August 5, 2025, to discuss the proposal for the third extraordinary general meeting of shareholders in 2025 [2] - For the fiscal year 2024, Shuangliang Energy's revenue composition is as follows: 75.23% from photovoltaic new energy, 23.03% from energy-saving and water-saving initiatives, and 1.74% from other businesses [2]

增资标的：全资孙公司双良硅材料（包头）有限公司、恒利晶硅新材料 （内蒙古）有限公司 增资总金额：不超过 200,000 万元人民币 本次增资事项已经公司八届董事会 2025 年第七次临时会议审议通过,本 次增资事项尚需提交公司股东大会审议。 双良节能系统股份有限公司 关于向全资孙公司增资的公告 重要内容提示： | 证券代码：600481 | 证券简称：双良节能 | 编号：2025-045 | | --- | --- | --- | | 转债代码：110095 | 转债简称：双良转债 | | 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 公司通过节能投资对恒利晶硅增资不超过 80,000 万元，由公司自有资金出 资。本次增资完成后，预计恒利晶硅注册资本将由 240,000 万元增加至不超过 320,000 万元，最终增资金额以实际发生为准。 本次增资事项已经公司八届董事会 2025 年第七次临时会议审议通过，根据 《上海证券交易所股票上市规则》《公司章程》等相关规定，相同交易类别下标 的相关的各项交易应按照连续 12 个 ...

| 证券代码：600481 | 证券简称：双良节能 | 公告编号：2025-046 | | --- | --- | --- | | 转债代码：110095 | 转债简称：双良转债 | | 双良节能系统股份有限公司 关于召开2025年第三次临时股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 8 月 21 日 14 点 00 分 召开地点：江苏省无锡市江阴市西利路 88 号双良节能系统股份有限公司五 楼会议室 股东大会召开日期：2025年8月21日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (一)股东大会类型和届次 2025年第三次临时股东大会 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 ...

双良节能系统股份有限公司 表决结果：同意：8 票，反对：0 票，弃权：0 票 详情请见同日公司于上海证券交易所网站（www.sse.com.cn）及指定媒体披 露的相关公告（公告编号 2025-045）。 | 证券代码：600481 | 证券简称：双良节能 | 编号：2025-044 | | --- | --- | --- | | 转债代码：110095 | 转债简称：双良转债 | | 八届董事会2025年第七次临时会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 双良节能系统股份有限公司（以下简称"公司"）于 2025 年 8 月 4 日以书面 送达及口头方式向各位董事发出召开公司八届董事会 2025 年第七次临时会议的 通知，会议于 2025 年 8 月 5 日以现场结合通讯方式召开，会议应出席董事 8 名， 实际出席董事 8 名。会议召开符合《公司法》等有关法律、法规、规范性文件和 《公司章程》的规定。会议由董事长缪文彬先生主持，审议并通过了如下议案： （1）审议通过《关于向全资孙公司增资的议案》 详情 ...

Core Viewpoint - The company is increasing its capital investment in its wholly-owned subsidiaries, aiming to enhance their financial strength and operational capabilities [1] Group 1: Capital Increase Details - The company plans to invest up to 1.2 billion yuan in its subsidiary, Shuangliang Silicon Materials (Baotou) Co., Ltd., increasing its registered capital from 3.3 billion yuan to a maximum of 4.5 billion yuan [1] - The company will also invest up to 800 million yuan in Hengli Crystal Silicon New Materials, raising its registered capital from 2.4 billion yuan to a maximum of 3.2 billion yuan [1] - Both subsidiaries will remain wholly-owned by the company after the capital increases [1] Group 2: Strategic Implications - The capital increases are intended to strengthen the financial position of Shuangliang Silicon Materials and Hengli Crystal Silicon, facilitating better daily operations [1] - This move is expected to enhance the subsidiaries' ability to conduct business effectively and improve their market competitiveness [1]