Group 1 - The company plans to establish a wholly-owned subsidiary in Saudi Arabia named ECO MARINER COMPANY with a total investment of $80 million, approximately 574 million RMB [1][2] - The main business of the Saudi subsidiary will include the production and sales of submarine cables, OPGW, land cables, and operation and maintenance services for submarine cables [2] - The investment aligns with Saudi Arabia's Vision 2030 strategy, which is driving a comprehensive transformation in technology and infrastructure sectors [2] Group 2 - The investment decision was approved by the company's board of directors and does not require shareholder meeting approval, allowing for a streamlined process [2] - The new subsidiary will be included in the company's consolidated financial statements, enhancing the company's global sales and service system [2] - The funding for this investment will come entirely from the company's own funds, ensuring no adverse impact on its main business, operational capability, cash flow, or asset status [2]

Investment Overview - The company plans to invest $80 million (approximately 574 million RMB) in ECO MARINER COMPANY in Saudi Arabia to enhance its global strategy and local market competitiveness [1][2] - The investment will be made through its wholly-owned subsidiary in Hong Kong, which will invest in a wholly-owned subsidiary in Singapore, which in turn will establish the Saudi company [2] Corporate Structure - After the investment, the Singapore company will hold 100% equity in the Saudi company, making the company the ultimate shareholder [2] - The investment does not require shareholder approval as it falls within the board's decision-making authority [2] Business Operations - The Saudi company will focus on the production and sales of submarine cables, OPGW, land cables, and provide operational services for submarine cables [3] - Management and personnel will be appointed according to local regulations [3] Strategic Impact - The investment aligns with Saudi Arabia's Vision 2030, which aims for comprehensive transformation in technology and infrastructure [4] - The company aims to leverage local production and service capabilities to meet the new energy infrastructure demands in the region, enhancing its strategic value in the global energy transition [4] Financial Implications - The investment will be funded entirely by the company's own resources, ensuring no adverse impact on its main business, cash flow, or asset status [4]

Core Viewpoint - The company aims to enhance its global strategy and local market competitiveness in the Middle East by establishing a wholly-owned subsidiary in Saudi Arabia through its Singapore subsidiary, with an investment of 80 million USD [1] Group 1 - The company is planning to set up a wholly-owned subsidiary named ECO MARINER COMPANY in Saudi Arabia [1] - The investment will be made through the company's wholly-owned subsidiary "ZTT HONGKONGLIMITED" and its Singapore subsidiary "HAITENG HONGFAN PTE.LTD" [1] - The total investment amount for the new subsidiary is 80 million USD, funded by the company's own resources [1]

Core Viewpoint - The company aims to enhance its global strategy by establishing a wholly-owned subsidiary in Saudi Arabia to strengthen its marine and power business in the Middle East, thereby improving its competitiveness in the local market [1] Group 1: Investment Details - The company plans to invest a total of 80 million USD through its wholly-owned subsidiary "HAITENG HONGFAN PTE.LTD" based in Singapore [1] - The new subsidiary in Saudi Arabia will be named ECO MARINER COMPANY and will be a limited liability company [1] - After the investment is completed, the Singapore company will hold 100% equity in the Saudi subsidiary, making the company the ultimate 100% shareholder [1]

Group 1 - The core point of the article is that Zhongtian Technology plans to invest a total of 80 million USD to establish a wholly-owned subsidiary in Saudi Arabia through its wholly-owned subsidiary in Hong Kong [1] - This investment aims to enhance the company's global strategic layout and will enable comprehensive capabilities in submarine cables, land cables, OPGW, and submarine cable operation and maintenance services in Saudi Arabia [1]

Group 1 - The company, Zhongtian Technology (600522.SH), aims to enhance its global strategy and localize its marine and power business in the Middle East [1] - The company plans to establish a wholly-owned subsidiary in Saudi Arabia named ECO MARINER COMPANY, with a total investment of $80 million [1] - The investment will be made through its wholly-owned subsidiary in Singapore, HAITENG HONGFAN PTE.LTD, which will hold 100% equity in the Saudi subsidiary [1]

证券代码：600522 证券简称：中天科技 公告编号：临 2025-057 江苏中天科技股份有限公司关于对外投资的公告 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： ● 投资标的名称：ECO MARINER COMPANY（中文名称为艾科马林纳公司，具 体名称以主管部门最终核准名称为准） ● 投资金额：8,000 万美元，折合人民币约 5.74 亿元 ● 相关风险提示：本次对外投资事项尚需履行境外投资备案手续，备案结 果及所需的时间存在不确定性。本次对外投资方案或因外部环境变化、业务 发展需要等情况作相应调整。因境外国家及地区政治、经济、文化等环境与 国内存在较大差异性，新公司可能面临经营、管理等风险，投资效果能否达 到预期存在不确定性。敬请广大投资者理性判断，注意投资风险。 一、对外投资概述 （一）对外投资的基本情况 江苏中天科技股份有限公司（以下简称"中天科技股份"或"公司"）为进 一步完善公司全球化战略布局，推动中东地区海洋、电力业务属地化建设，贴近 客户需求，提升公司在当地市场的综合竞争力，拟通过全资 ...

Core Viewpoint - The company aims to enhance its global strategy by establishing a wholly-owned subsidiary in Saudi Arabia, focusing on localizing its marine and power business in the Middle East to better meet customer needs and improve competitiveness in the local market [1] Investment Details - The total investment amount for the new subsidiary is set at 80 million USD, funded entirely by the company's own resources [1] - Upon completion of the investment, the newly established Saudi company will be included in the company's consolidated financial statements as a wholly-owned subsidiary [1]

Investment Rating - The report maintains a "Buy" rating for the photovoltaic and wind power sectors, indicating a positive outlook for these industries in the near to medium term [4][5]. Core Insights - The photovoltaic industry is undergoing a "de-involution" movement at the national strategic level, focusing on capacity integration in the silicon material segment and strengthening price regulation across the supply chain. The industry is currently at the bottom of the cycle, with future policy strength being a key variable influencing its trajectory. In the medium to long term, the photovoltaic sector is expected to enter a phase of high-quality development, with technological upgrades and market structure optimization becoming core competitive factors [4]. - The wind power sector in China has a strong global competitive advantage, with a relatively reasonable supply-demand structure and robust profitability among companies. The year 2025 is anticipated to be a significant year for offshore wind power development in China, with accelerated construction and favorable export trends [4]. Weekly Market Review - From August 4 to August 8, 2025, the Shanghai Composite Index rose by 2.11%, while the Shenzhen Component Index and the ChiNext Index increased by 1.25% and 0.49%, respectively. The Shenwan Electric Power Equipment Index rose by 1.94%, outperforming the CSI 300 by 0.71 percentage points. Within sub-sectors, photovoltaic equipment, wind power equipment, batteries, and grid equipment experienced changes of +1.29%, +4.50%, +0.99%, and +3.08%, respectively [12][18]. Key Sector Tracking - **Photovoltaic Sector**: The report highlights a significant project where JA Solar is the candidate for a 50MW photovoltaic component procurement project in Tibet, with a bid amount of approximately 36 million CNY and a unit price of 0.7215 CNY/W [3][21]. - **Wind Power Sector**: The report emphasizes the strong profitability of domestic wind power companies in the first half of the year and suggests focusing on leading companies such as Goldwind Technology and Dongfang Cable [4]. Investment Recommendations - **Photovoltaic**: Focus on segments that have undergone sufficient corrections, such as silicon materials, glass, and battery cells. Recommended companies include Aiko Solar, Flat Glass Group, GCL-Poly Energy, and Junda Technology [4]. - **Wind Power**: Maintain a positive outlook on the domestic wind power supply chain, with recommendations for companies like Goldwind Technology and Zhongtian Technology [4]. - **New Energy Vehicles**: The sector continues to grow rapidly, with recommendations to focus on battery and structural components benefiting from low upstream raw material prices, including companies like CATL and EVE Energy [5]. Industry Price Data - The report includes price trends for key materials in the photovoltaic supply chain, indicating fluctuations in silicon material, battery cell, and module prices, which are critical for assessing market dynamics [35][36][38].

Core Viewpoint - The demand for high-speed optical modules is significantly increasing due to the continuous rise in global data traffic, accelerated construction of AI server clusters, and the need for massive parallel computing in large model training. The company, Zhongtian Technology, is actively positioning itself in the high-speed optical module industry to achieve technological breakthroughs and industrial upgrades in the field of high-speed optical communication [1]. Group 1: Industry Trends and Company Positioning - The high-speed optical module industry has high technical barriers, significant R&D investment, and rapid product iteration, requiring strict performance standards. Zhongtian Technology adheres to the principle of "quality as dignity," enhancing its quality management system and production processes to ensure high-quality product delivery and gain customer trust [2]. - The company has achieved mass production and delivery of a full range of 400G optical modules using VCSEL, EML, and silicon photonics technologies, covering transmission distances from 70 meters multimode fiber to 10 kilometers single-mode fiber. The 800G optical module is expected to enter mass production within the year [4]. Group 2: Technological Advancements and Innovations - Zhongtian Technology has transformed from "follower" to "leader" in the high-speed optical module field by forming a differentiated technology system through precise industry trend analysis and efficient collaboration across the entire industry chain. The company has made breakthroughs in key raw materials and core technologies through a dual-driven approach of independent R&D and industry collaboration [5]. - The company has developed a 100Gbps silicon photonic modulation/demodulation chip in collaboration with upstream partners, achieving batch application with performance indicators exceeding industry standards. Additionally, the self-developed silicon photonic coupling technology has improved production efficiency and product reliability by upgrading from single-lens to dual-lens and parallel coupling [5]. - To address market demands for "higher speed and higher performance," Zhongtian Technology is accelerating the construction of new technology platforms and increasing R&D investment. The company is focusing on next-generation optical interconnect technology reserves, including 200Gbps and 400Gbps modulation technology based on thin-film lithium niobate, aiming to maintain a leading position in the high-speed optical module sector [5].