Market Overview - The A-share market experienced a significant rebound, with all three major indices rising collectively. The ChiNext Index surged over 2% at one point, driven by notable gains in the photovoltaic and commercial aerospace sectors [2][3] - The photovoltaic industry index rose by 4.78%, while military and aerospace indices, as well as satellite communication indices, saw increases exceeding 3% [2] Photovoltaic Sector - The photovoltaic sector saw widespread gains, particularly in the TOPcon battery concept stocks, which led the market rally. Key stocks included: - Aotewei reached a 20% limit up - Shuangliang Energy and Fostech both hit 10% limit up - Maiwei shares increased by 11%, while Jing Sheng Machinery surged over 17% [5][6] - The overall performance of the photovoltaic sector was strong, with multiple stocks showing significant increases, indicating robust investor interest [5][7] Commercial Aerospace Sector - The commercial aerospace sector also experienced a rapid rise, with stocks such as Tongyu Communication and Aerospace Development hitting the 10% limit up. Other stocks in this sector saw increases of over 5% [8][9] - The sector's growth is supported by recent developments, including successful tests of liquid rocket engines by Star Glory Aerospace Technology Group, which enhances the reliability of their products [8] Precious Metals Sector - In contrast, the precious metals sector faced a downturn, with several stocks experiencing significant declines. Notable declines included: - Zhaojin Gold and Sichuan Gold both hit the 10% limit down - Shandong Gold fell over 6% [10][11] - Despite the overall decline in the sector, spot gold and silver prices showed signs of recovery, with gold rebounding to approximately $4,809 per ounce, marking a daily increase of over 3% [12]

2月3日，A股三大股指早盘高开低走触底反弹，截止午盘，沪指涨0.38%报4031.07点，深成指涨0.93%报13952.38点，创业 板指涨0.76%报3289.03点，科创50指数跌0.27%报1446.93点。沪深两市半日成交额1.6万亿，较上个交易日缩量385亿。全市场 超4400只个股上涨。 盘面热点较为杂乱，商业航天（核心股）概念爆发，十余只成分股涨停，巨力索具、通宇通讯、神剑股份、中超控股涨 停。光伏（核心股）概念持续走强，双良节能、奥特维涨停。化工（核心股）板块拉升，红宝丽3天2板，万丰股份4连板。AI 应用概念反复活跃，下跌方面，有色金属板块再度下挫，贵金属概念领跌，四川黄金、招金黄金等多股跌停。 热门板块 CPO等算力（核心股）硬件股继续走强 CPO等算力（核心股）硬件股继续走强，罗博特科、天孚通信涨超10%，股价均创历史新高，太辰光、炬光科技、光库科 技、天通股份等跟涨。 消息面上，国盛证券表示，算力（核心股）产业链高景气周期背景下，光模块头部厂商在大陆和泰国加速扩产，预计光模 块行业2026年一季度将迎来产能集中释放，驱动业绩进入新一轮爬坡期。 太空光伏（核心股）概念拉升 太空光伏（核 ...

经济观察网 2月3日早盘，太空光伏概念震荡拉升，截至10时整，双良节能（600481）涨停，奥特维涨 超18%，高测股份涨超10%，迈为股份（300751）、钧达股份（002865）等多股上涨。消息面上，近 日，多家机构发布看好太空光伏发展的研报。中金公司（601995）研报提到，在商业航天蓬勃发展背景 下，太空光伏作为其电源系统升级的核心方向，在星座批量组网的牵引下正迈向技术路线升级与产业化 交付的新阶段。随着我国低轨星座进入密集部署期、单星功率持续上行叠加太空算力等新应用场景推进 探索，建议把握太空光伏带来的全产业链变革，持续关注制造产业端落地密集催化。 ...

早盘，太空光伏概念震荡拉升。双良节能直线涨停，奥特维"20cm"涨停，迈为股份、帝科股份、国晟科技等多股跟涨。消息面上，当地时间2月2日，美 国企业家马斯克旗下的太空探索技术公司（SpaceX）发表声明，宣布已收购同属于马斯克旗下的人工智能企业xAI公司。xAI公司同时也发表声明，证明 已"加入SpaceX"。 9:40 4838.93个 9:40 4837.48J 9:40 4837.89个 9:40 4836.94J 9:40 4837.31个 4464.27 -4.20% 9:40 4837.20↓ 量比 9:40 4836.837 9:40 4837.10↑ k 7 9:40 4836.85J 9:40 4836.95个 白酒概念股持续活跃。皇台酒业触及涨停 ，金徽酒、利通科技、贵州茅台等多股跟涨。消息面上，国信证券表示，近期白酒、地产等前期滞涨板块表现 较优，其背后逻辑是春季行情进入下半场后，市场结构分化趋于收敛。 | ▼ | 白酒概念 1 | | --- | --- | | | 7377.30 0.11% | | 成分股 看点 | 基金 资金 新闻 | | 実部 龙头股 | 3日内有涨停 连板 连 ...

Investment Rating - The report maintains an "Overweight" rating for the commercial aerospace industry, indicating a positive outlook for the sector in the coming months [1]. Core Insights - The commercial aerospace industry is expected to undergo a significant transformation by 2026, driven by advancements in launch capabilities and the successful deployment of domestic rockets, which will remove previous constraints on industry growth [8][9]. - The competition in commercial aerospace is fundamentally a "land grab" for space sovereignty and resource allocation, emphasizing the need for increased launch frequency to secure China's position in low Earth orbit [10]. - The report highlights the strategic importance of commercial aerospace in national defense and resource acquisition, particularly in the context of lunar resources like Helium-3, which could reshape global energy dynamics [12]. - Key catalysts for the industry include domestic policy support and capital market developments, with significant IPOs expected from leading aerospace companies in 2026 [13][15]. Summary by Sections 1. Why has the domestic commercial aerospace industry reached a qualitative change? - The industry has transitioned from a limited payload capacity to a robust launch capability, marked by the successful launch of the Zhuque-3 rocket, which signifies a shift from speculative themes to a narrative driven by operational capacity [8]. 2. How to understand the importance of commercial aerospace? - The scarcity of low Earth orbit resources has made the commercial aerospace race a critical national strategy, with the need to enhance launch frequency to secure space assets and maintain competitive advantages [10][11]. 3. What subsequent catalysts are worth paying attention to in commercial aerospace? 3.1. Domestic: Accelerated release of policy and capital dividends - The report anticipates significant policy support and capital market activity, with major aerospace companies expected to enter the IPO market in 2026, reflecting the strategic importance of the sector [13]. 3.2. International: Clear policy framework and tight planning timeline - The U.S. has shifted from a public to a private ownership model for space resources, establishing a legal framework that encourages commercial investment in space resource development [15][16]. 4. Investment Recommendations 4.1. SpaceX Concept - Companies that could potentially enter the SpaceX supply chain are highlighted, indicating a strong future in commercial aerospace [17]. 4.2. Rocket Sector: "Many Stars, Few Rockets" Expected to Breakthrough - The report suggests that advancements in large-capacity reusable rocket technology will lead to significant changes and valuation adjustments in the sector [19]. 4.3. Satellite Sector: Certainty in Implementation - The urgency to secure low Earth orbit resources is driving domestic satellite constellations from planning to large-scale deployment [20]. 4.4. Space Computing and Space Photovoltaics: Next-Generation Core Tracks - The report identifies space computing and space photovoltaics as critical future sectors, emphasizing their role in supporting lunar economies and global intelligence ecosystems [22].

2026 年第一次临时股东会会议资料 双良节能系统股份有限公司 2026 年第一次临时股东会 会议文件 二〇二六年二月 第 1 页 共 10 页 2026 年第一次临时股东会会议资料 目 录 | 目 录 | -------------------------------------------------------------- 2 | | --- | --- | | 双良节能系统股份有限公司 2026 | 年第一次临时股东会会议须知 ------------ 3 | | 双良节能系统股份有限公司 2026 | 年第一次临时股东会会议议程 ------------ 5 | | 议案一：关于开展期货套期保值业务的议案 | ----------------------------- 6 | 第 2 页 共 10 页 2026 年第一次临时股东会会议资料 双良节能系统股份有限公司 2026 年第一次临时股东会会议须知 为维护广大投资者的合法权益，确保股东在本次股东会期间依法行使权利， 根据《中华人民共和国公司法》、中国证券监督管理委员会《上市公司股东会规 则》和《公司章程》等有关规定，特制定本会议须知： 一、公司 ...

| 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600481 | 双良节能 | 3.55 Z | 14.26% | -2.48 Z | -9.94% | -1.08 Z | -4.33% | | 300842 | 竞科股份 | 1.67 乙 | 9.36% | -3585.16万 | -2.01% | -1.32 Z | -7.36% | | 688516 | 奥特维 | 1.27亿 | 7.17% | 4353.75万 | 2.46% | -1.70 Z | -9.64% | | 688556 | 高测股份 | 7311.77万 | 5.30% | 2063.30万 | 1.50% | -9375.07万 | -6.80% | | 603185 弘元绿能 | | 6862.19万 | 6.72% | -204.00万 | -0.20% | -6658.19万 | -6.52% | | 920368 连城数控 | ...

三、机构解读 一、行情 1月28日，云计算概念大涨，美利云一字涨停，网宿科技、欧陆通等涨超10%，首都在线等跟涨。 | 股票名称 | 最新价= | 涨跌幅 = | 换手落 | | --- | --- | --- | --- | | 美利云 000815.SZ 扭亏 | | 首板 | | | | 14.28 | +10.02% | 7.80' | | 公司数据中心业务涵盖机架出租、网络接入及机架运行维护等服务 | | 09:44 涨停 | | | 网宿科技 300017.SZ 减持 | | | | | IT基础平台服务提供商;公司提供DC和液冷节能解决方案,子公司绿色云图自主研发的 | | | | | 液冷技术,能够为企业提供更节能、高效的液冷数据中心建设及改造方案,包括微型液冷 | | | | | 数据中心解决方案、中大型数据中心解决方案及集装箱数据中心解决方案;另外,提供托 | 16.04 | +18.46% | 26.14 | | 管空间租用、托管带宽租用、数据中心托管服务及企业级互联网通信整体解决方案;子公 | | | | | 司爱捷云瞄定算力云定位,以统一架构为客户提供从轻量超融合云到大规模全栈企业云 ...

Core Viewpoint - The photovoltaic industry is undergoing a deep reform to combat internal competition, with regulatory measures and policy adjustments reflecting a commitment to high-quality development. However, many companies are still facing significant losses, indicating that this battle is not a short-term fix but a necessary step to resolve structural issues within the industry [2][5]. Industry Performance - Major companies like Tongwei Co., Ltd. and LONGi Green Energy are projected to incur substantial losses in 2025, with estimated net losses of 9 to 10 billion yuan and 6 to 6.5 billion yuan respectively. Other companies such as JA Solar, JinkoSolar, and Trina Solar are also expected to report significant losses, highlighting the severe challenges faced by the industry [2][3]. - The average gross margin for the entire industry is only 3.64%, with many companies trapped in a cycle of "production equals loss" due to oversupply and rising raw material costs [3][4]. Causes of Losses - The industry's performance crisis is primarily attributed to excessive homogenous production capacity and fierce price competition, compounded by soaring raw material costs. The supply of silicon materials is projected to exceed global demand by more than double over the next three years, leading to a significant imbalance [3][4]. - The price of silver, a key material in photovoltaic cells, has surged by 231% in 2025, pushing companies to adopt cost-cutting measures at the expense of technological innovation and quality [4][5]. Recommendations for Improvement - Companies must shift their focus from price competition to technological innovation and quality improvement, investing in advanced battery technologies such as TOPCon, BC, and ABC to enhance efficiency and reduce costs [4][6]. - The industry needs to establish self-regulatory standards to combat unfair competition practices, such as selling below cost and misrepresenting product capabilities, while promoting collaboration among companies to consolidate resources [4][6]. Government Role - Government policies and regulatory actions are crucial for supporting the industry's reform efforts. A unified and clear policy direction is necessary to stabilize market expectations and foster industry consensus [5][6]. - Regulatory bodies should enhance oversight on low-price dumping and set higher energy consumption and environmental standards for mature production stages, while also optimizing bidding rules to prioritize technology and quality over price [5][6]. Future Outlook - The photovoltaic industry is at a critical juncture, with the potential for recovery as companies begin to reduce losses and improve profitability. Analysts suggest that the industry may see a turning point in profitability by early 2026 [6][7]. - A collaborative effort between companies and government is essential to ensure that innovation becomes the cornerstone of industry development, allowing China to transition from a manufacturing hub to a center of innovation in the global energy transformation [7].

新华财经北京1月27日电近日，双良节能发布的2025年度业绩预告显示，2025年公司归母净利润为亏损 7.8亿元到10.6亿元，同比2024年大幅减亏。从行业业绩预告整体情况来看，光伏行业多家企业2025年第 四季度出现亏损，业内认为与光伏行业四季度的淡季特征相关。 对比此前已披露业绩预告的光伏行业龙头企业，头部企业亏损额处于40亿至100亿元区间，双良节能同 期亏损规模相对较小，核心原因或是公司硅片业务具备成本竞争优势。公司在零碳园区、核心装备、新 兴赛道布局等领域的突破进展，为长期增长注入了动能，同时，传统光伏板块与绿氢等新兴赛道的协同 发力也进一步巩固了增长基础。 多领域突破注入增长动能 此外，公告显示双良节能在报告期内计提了固定资产减值准备，这可能也是公司四季度出现亏损的重要 因素。在业绩改善的背后，公司在零碳园区、核心装备、新兴赛道布局等领域的突破进展，叠加行业政 策与市场利好，为长期增长注入了动能，也进一步提升了市场信心。 作为数字化驱动的全生命周期碳中和解决方案服务商，双良节能的零碳园区整体解决方案已获得行业认 可。近期，包头稀土高新区国家级零碳园区建设推进会选址双良新能源光伏产业园，标志着公司 ...