Core Viewpoint - The power grid concept stocks have shown strong performance in early trading, with significant gains in several companies, indicating a positive market sentiment towards the power equipment sector [1]. Group 1: Stock Performance - Xuji Electric has risen over 8%, while Guodian NARI and Hengtong Optic-Electric have increased by more than 7%. Other companies like Tebian Electric, Siyuan Electric, and Zhongtian Technology have also seen gains exceeding 4% [1]. - The power equipment ETF and the grid ETF have both increased by over 5% [1]. Group 2: Industry Outlook - According to brokerages, the new energy sector is expected to maintain a positive trend through 2026, supported by the National Energy Administration's commitment to enhance offshore wind power development during the 14th Five-Year Plan [2]. - The anticipated increase in overseas high-value orders is expected to expand China's wind power export potential, alongside domestic grid investment growth, which is likely to drive demand for power equipment [2]. - The power equipment sector is projected to sustain high prosperity levels due to these factors [2].

Group 1 - The Guangdong Electric Power Grid Yangjiang Sanshan Island offshore wind power flexible direct current transmission project is the world's first ultra-large-scale integrated offshore and onshore ultra-high voltage flexible direct current transmission project, with a planned total installed capacity of 2GW and a total length of 116.5 kilometers for the submarine cable [3] - The project is located in the South China Sea, an area prone to typhoons and complex sea conditions, which poses extreme challenges to the electrical performance, mechanical strength, and environmental resistance of the submarine cable [3] - Zhongtian Technology has made significant advancements in key technologies for ±500kV direct current submarine cables, overcoming global challenges related to space charge accumulation and electric field distribution control under high direct current voltage [3] Group 2 - Zhongtian Technology has successfully developed key technologies for various voltage levels of direct current submarine cables, including ±160kV, ±200kV, ±320kV, and ±400kV, and has supplied the first ±400kV flexible direct current offshore wind project in Asia in 2021 [3] - The company plans to focus on high-capacity, long-distance, and highly reliable offshore transmission technology needs during the 14th Five-Year Plan, continuing to invest in research and development in core areas such as insulation materials, system design, and intelligent operation and maintenance [5] - Zhongtian Technology aims to build a comprehensive solution capability for direct current submarine cables, covering survey design, product manufacturing, offshore construction, and intelligent operation and maintenance [5]

Investment Rating - The report indicates a positive outlook for the power equipment industry, particularly in the renewable energy sector, with significant investments and technological advancements expected to drive growth [1][2][4]. Core Insights - The report highlights that the State Grid's investment during the "14th Five-Year Plan" period is projected to reach 4 trillion yuan, marking a 40% increase compared to the previous plan [2]. - The report emphasizes the stability in polysilicon prices and the continuous rise in battery component prices, with N-type battery prices increasing to 0.40 yuan per watt [15][16]. - The report identifies three key areas of focus: supply-side reform leading to price increases in the industry chain, long-term growth opportunities from new technologies, and industrialization opportunities from perovskite GW-level layouts [16]. Summary by Sections 1. New Energy Generation 1.1 Photovoltaics - Polysilicon prices remain stable, while battery component prices are on the rise, with N-type battery prices reaching an average of 0.40 yuan per watt [15]. - The report notes that leading component companies are responding to industry self-discipline by raising component prices, with distributed sales prices reaching 0.72 yuan per watt [15][16]. - Key companies to watch include Tongwei Co., GCL-Poly, LONGi Green Energy, JA Solar, and Trina Solar [16]. 1.2 Wind Power & Grid - The UK AR7 offshore wind auction results exceeded expectations, with a total scale of approximately 8.4GW, validating the upward trend in European offshore wind [17]. - The State Grid's investment is expected to enhance transmission capacity significantly, addressing bottlenecks in renewable energy delivery [18]. - Companies to focus on include Goldwind, Yunda Wind Power, Mingyang Smart Energy, and Sany Heavy Energy [18]. 1.3 Hydrogen & Energy Storage - By 2025, the production and sales of fuel cell vehicles in China are projected to reach 7,797 units, reflecting a 44% year-on-year increase [20]. - The report anticipates that new energy storage installations will reach 58.6GW/175.3GWh by 2025, with significant growth expected in the energy storage sector [21]. - Key players in the hydrogen sector include Shuangliang Energy, Huadian Heavy Industries, and Shenghui Technology [20]. 2. New Energy Vehicles - Solid-state batteries are gaining traction, with several automakers making progress towards mass production by 2026 [29]. - Companies such as BYD, Changan Automobile, and Chery are expected to achieve significant milestones in solid-state battery technology [29]. - The report suggests monitoring companies like Xiamen Tungsten, Hailiang Co., and Nanjing Advanced Lithium Battery [29]. 3. Industry Trends - The report notes a 0.4% increase in the new energy equipment sector from January 12 to January 16, 2026, with a cumulative increase of 5.3% since the beginning of the year [12]. - The photovoltaic equipment sector saw a 3.52% increase, while the wind power equipment sector experienced a decline of 1.28% during the same period [13].

Core Viewpoint - The successful completion of the first segment of the ±500 kV DC submarine cable for the Yangjiang Sanshan Island offshore wind power flexible direct current transmission project marks a significant milestone in China's offshore wind energy development and manufacturing capabilities [1] Group 1: Project Overview - The ±500 kV DC submarine cable, with a total length of 54.52 kilometers, addresses multiple technical challenges, showcasing China's manufacturing and innovation strength [1] - The entire cable route for the Yangjiang Sanshan Island project is approximately 114.8 kilometers, with 114.2 kilometers offshore and a maximum water depth of 52 meters [1] - The project is a core initiative for Guangdong's "New Offshore Guangdong" construction, aiming to establish a million-kilowatt-level offshore wind power base [1] Group 2: Project Timeline and Impact - The submarine cable is scheduled to begin offshore laying in April, with all cable construction expected to be completed by the end of June, and land-sea joint debugging to start in July [1] - The project is set to be operational by the end of October, facilitating efficient transmission of deep-sea wind power to the Guangdong-Hong Kong-Macao Greater Bay Area [1] - The project is anticipated to stimulate the upstream and downstream industrial chain, providing strong momentum for Guangdong's economic development [1]

Core Viewpoint - Jiangsu Zhongtian Technology Co., Ltd. plans to utilize idle self-owned funds for low-risk financial product investments to enhance capital efficiency and increase company revenue [4][5][12]. Group 1: Investment Overview - The investment aims to improve the efficiency of fund utilization without affecting normal operations [4]. - The company intends to use no more than RMB 1.5 billion (150,000 million) of idle self-owned funds for these investments, which will be used in a rolling manner within this limit [5]. - The source of funds will be from the company's and its subsidiaries' idle self-owned funds [6]. - The investment will focus on low-risk, highly liquid financial products, including but not limited to products issued by banks, trusts, and securities companies, as well as bond repurchase agreements [7]. - The investment period will not exceed 12 months from the date of board approval [8]. Group 2: Approval Process - The proposal for using idle self-owned funds for financial investments was approved at the 10th meeting of the 9th Board of Directors held on January 15, 2026, and does not require shareholder approval [10][30]. Group 3: Risk Analysis and Control Measures - The financial products for investment are considered controllable risk investments but are still subject to market fluctuations [3][10]. - The company will implement risk control measures, including selecting suitable products based on liquidity, safety, duration, and yield, and conducting preliminary assessments [10]. - The financial management center will maintain a ledger to manage and dynamically track the investment status of financial products [10]. Group 4: Impact on the Company - The use of idle self-owned funds for financial investments will not affect the normal operation of the main business, and it aims to maximize the use of funds and increase revenue [12]. - The financial products will be recorded as "trading financial assets" or "other non-current financial assets" on the balance sheet, with fair value changes and investment income reflected in the profit and loss statement [12].

Group 1 - The company announced the approval of two proposals during the 10th meeting of the 9th Board of Directors, which include using raised funds to temporarily supplement working capital and using idle self-owned funds to purchase financial products [2]

江苏中天科技股份有限公司关于 使用闲置自有资金进行委托理财的公告 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法律责任。 重要内容提示： 基本情况 证券代码：600522 证券简称：中天科技 公告编号：临 2026-004 | 投资金额 | 150,000 万元 | | --- | --- | | 投资种类 | 低风险、流动性高的理财产品或金融产品，包括但不限于银行、信 | | | 托、证券公司或其他金融机构发行的产品、债券回购（包括正回购 | | | 和逆回购）等 | | 资金来源 | 自有资金 | 已履行及拟履行的审议程序 本事项已经公司第九届董事会第十次会议审议通过，无需提交公司股东 会审议。 特别风险提示 公司拟进行委托理财的产品属于风险可控的投资品种，但仍然受到金融 市场及宏观经济的影响，公司将根据金融市场的变化适时适量介入，但不排 除该项投资受到市场波动的影响。 一、投资情况概述 （一）投资目的 为提高资金使用效率，合理利用自有资金，在不影响正常经营的情况下，江 苏中天科技股份有限公司（以下简称"公司"）拟利用闲置自有资金 ...

证券代码：600522 证券简称：中天科技 公告编号：临 2026-003 江苏中天科技股份有限公司募集资金 临时补充流动资金的公告 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法律责任。 重要内容提示： 临时补流募集资金金额：70,000 万元 补流期限：自 2026 年 1 月 15 日公司第九届董事会第十次会议审议通 过起不超过 12 个月 一、募集资金基本情况 | 发行名称 | 2019 年公开发行可转债 | | --- | --- | | 募集资金总额 | 396,512.00 万元 | | 募集资金净额 | 392,272.34 万元 | | 募集资金到账时间 | 2019 年 3 月 6 日 | | 前次用于暂时补充流动资金 | 截至 2026 年 1 月 9 日，公司已将 120,000 万元 | | 的募集资金归还日期及金额 | 临时补充流动资金的募集资金全部归还至募集 | | | 资金专用账户。 | 二、募集资金投资项目的基本情况 截至 2025 年 11 月 30 日，江苏中天科技股份有限公司（以下简称"公司"） ...

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。 一、董事会会议召开情况 江苏中天科技股份有限公司（以下简称"公司"）于 2026 年 1 月 11 日以电 子邮件等方式发出了关于召开第九届董事会第十次会议的通知。本次会议于 2026 年 1 月 15 日以通讯方式召开，应参会董事 9 名，实际参会董事 9 名。本次 会议由董事长薛驰先生主持，会议的召集、召开符合有关法律、行政法规、部门 规章、规范性文件和《公司章程》的规定，表决形成的决议合法、有效。 二、董事会会议审议情况 会议以记名投票的方式审议通过了以下议案，并形成了如下决议： 1、审议通过了《关于使用募集资金临时补充流动资金的议案》。 详见 2026 年 1 月 16 日公司刊登在《中国证券报》《上海证券报》《证券时报》 及上海证券交易所网站 www.sse.com.cn 的《江苏中天科技股份有限公司募集资 金临时补充流动资金的公告》（公告编号：临 2026-003）。 证券代码：600522 证券简称：中天科技 公告编号：临 2026-002 江苏中天科技股份有限公司 ...

每经AI快讯，中天科技1月15日晚间发布公告称，公司第九届第十次董事会会议于2026年1月15日以通 讯方式召开。会议审议了《关于使用募集资金临时补充流动资金的议案》等文件。 每经头条（nbdtoutiao）——不到20万元，就能买特斯拉了？"廉价版"Model 3或进入中国市场，续航里 程480公里！关于自动驾驶，美国市场也有大调整 （记者 张明双） ...