证券代码：600732 证券简称：爱旭股份 编号：临 2025－097 公司全体董事及高级管理人员对公司《2025 年第三季度报告》签署了书面确认 意见。 本议案已经董事会审计委员会事前审议通过。 第九届董事会第四十二次会议决议公告 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法律责任。 一、会议召开情况 上海爱旭新能源股份有限公司（以下简称"公司"）第九届董事会第四十二次 会议的通知于 2025 年 10 月 24 日以电子邮件方式送达。会议于 2025 年 10 月 30 日 以现场结合通讯方式召开，应参会董事 7 名，实际参会董事 7 名。会议由董事长陈 刚先生主持，本次会议的召集召开符合《公司法》、《公司章程》及其他有关法律、 法规的规定，形成的决议合法有效。 二、会议决议情况 会议经记名投票表决形成如下决议： 1、审议并通过了《2025 年第三季度报告》 表决结果：同意 7 票，反对 0 票，回避 0 票，弃权 0 票。 具体内容详见同日披露的《2025 年第三季度报告》。 上海爱旭新能源股份有限公司 2、审议并通过了《关于 ...

证券代码：600732 股票简称：爱旭股份 编号：临 2025－099 上海爱旭新能源股份有限公司 关于注销部分限制性股票与股票期权的公告 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。 一、相关激励计划本次注销已经履行的决策程序 2025 年 10 月 30 日，上海爱旭新能源股份有限公司（以下简称"公司"）召开 第九届董事会第四十二次会议和第九届监事会第三十四次会议，审议通过了《关于 注销部分限制性股票与股票期权的议案》。因 22 名激励对象离职以及部分期权行权 期满，公司拟将 2023 年限制性股票与股票期权激励计划（以下简称"2023 年激励计 划"）中 18,330 股限制性股票予以回购注销、2,948,455 份股票期权予以注销；以及 将 2025 年限制性股票与股票期权激励计划（以下简称"2025 年激励计划"）中 17,500 股限制性股票予以回购注销、107,500 份股票期权予以注销。 二、本次限制性股票回购注销/股票期权注销的情况 本次应当完成回购注销的已获授但尚未解除限售的限制性股票的数量共计 35,8 ...

证券代码：600732 股票简称：爱旭股份 编号：临 2025－100 上海爱旭新能源股份有限公司 关于回购注销部分激励对象限制性股票通知债权人暨 减资的公告 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。 一、通知债权人的原由 上海爱旭新能源股份有限公司（以下简称"公司"）于 2025 年 10 月 30 日召开 了第九届董事会第四十二次会议和第九届监事会第三十四次会议，审议通过了《关 于注销部分限制性股票与股票期权的议案》。 二、需债权人知晓的相关信息 由于公司本次回购注销部分限制性股票将减少公司注册资本，根据《中华人民 共和国公司法》等相关法律、法规的规定，公司特此通知债权人，债权人自接到公 司通知起 30 日内、未接到通知者自本公告披露之日起 45 日内，均有权凭有效债权 文件及相关凭证要求公司清偿债务或者提供相应担保。 鉴于公司《2023 年限制性股票与股票期权激励计划》《2025 年限制性股票与股 票期权激励计划》中部分授予限制性股票的激励对象离职，不再具备激励对象资格， 因此由公司对上述激励对象已获授但尚未解除限 ...

北京市中伦（深圳）律师事务所 关于上海爱旭新能源股份有限公司 2023 年限制性股票与股票期权激励计划 回购注销部分限制性股票与股票期权的 北京市中伦（深圳）律师事务所 关于上海爱旭新能源股份有限公司 2023 年限制性股票与股票期权激励计划 回购注销部分限制性股票与股票期权的 法律意见书 二〇二五年十月 法律意见书 致：上海爱旭新能源股份有限公司 北京市中伦（深圳）律师事务所（以下简称"本所"或"中伦"）接受上 海爱旭新能源股份有限公司（以下简称"爱旭股份"或"公司"）的委托，担 任爱旭股份实施 2023 年限制性股票与股票期权激励计划（以下简称"2023 年 激励计划"）相关事宜的专项法律顾问。本所律师根据《中华人民共和国公司 法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证 券法》"）、《上市公司股权激励管理办法》（以下简称"《管理办法》"）等有 关法律、法规、规范性文件和《上海爱旭新能源股份有限公司 2023 年限制性股 票与股票期权激励计划（草案）》（以下简称"《2023 年激励计划》"）的规定， 对爱旭股份提供的有关文件进行了核查和验证，就公司 2023 年激励计划部分限 ...

北京国枫律师事务所 关于上海爱旭新能源股份有限公司 2025 年限制性股票与股票期权激励计划 注销部分限制性股票与股票期权相关事项的 法律意见书 国枫律证字[2025]AN046-4号 GRANDWAY 北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7 层 邮编： 100005 电话(Tel): 010—88004488/66090088 传真(Fax): 010—66090016 北京国枫律师事务所 关于上海爱旭新能源股份有限公司 2025 年限制性股票与股票期权激励计划 注销部分限制性股票与股票期权相关事项的 法律意见书 国枫律证字[2025] AN046-4 号 致:上海爱旭新能源股份有限公司 北京国枫律师事务所接受上海爱旭新能源股份有限公司委托,担任公司实行 2025 年限制性股票与股票期权激励计划的专项法律顾问。本所已根据相关法律、法 规、规章和规范性文件的规定并按照律师行业公认的业务标准、道德规范和勤勉尽 责精神,对公司提供的文件和有关事实进行了查验,并就本次股权激励计划事宜出 具了《北京国枫律师事务所关于上海爱旭新能源股份有限公司 20 ...

Core Viewpoint - Aiko Technology Co., Ltd. reported a significant increase in revenue for the first three quarters of 2025, but still faced a net loss due to industry supply-demand dynamics [1] Financial Performance - The company achieved a revenue of 11.597 billion yuan, representing a year-on-year growth of 46.86% [1] - The net profit attributable to shareholders was a loss of 532 million yuan [1] Factors Influencing Performance - The loss was primarily attributed to the impact of supply-demand relationships in the industry [1] - Despite an increase in component sales and rising sales prices contributing to revenue growth, the overall profitability has not yet reversed [1] - Improvements in gross profit and a reduction in inventory impairment were noted, but these were insufficient to achieve profitability [1]

上海爱旭新能源股份有限公司 （600732） 2025 年第三季度报告 证券代码：600732 证券简称：爱旭股份 上海爱旭新能源股份有限公司 2025 年第三季度报告 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： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的 真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期 | | 年初至报告 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 比上年同 | 年初至报告期末 | 期末比上年 | | | | 期增减变 | | 同期增减变 | | | | 动幅度(%) | | 动幅度(%) | | 营业收入 | 3,150,520,030.5 ...

Core Insights - The company reported a third-quarter revenue of 3.151 billion yuan, representing a year-on-year increase of 15.22% [1] - The company incurred a net loss of 295 million yuan in the third quarter [1] - For the first three quarters, the company achieved a revenue of 11.597 billion yuan, reflecting a year-on-year growth of 46.86% [1] - The net loss for the first three quarters amounted to 532 million yuan [1]

Investment Rating - The industry investment rating is "Overweight" indicating a positive outlook for the photovoltaic sector [4]. Core Insights - The photovoltaic industry is experiencing significant price recovery and profit restoration due to supply-side reforms, particularly in the polysilicon segment, which is crucial for the entire supply chain [4]. - A joint platform involving 17 major companies is expected to be established by the end of 2025, aimed at addressing supply-side issues and preventing disorderly expansion in the industry [4]. - The third quarter of 2025 saw notable profit recovery for companies like Daqo New Energy and GCL-Poly Energy, marking an end to a prolonged period of losses [4]. Summary by Sections Industry Overview - The photovoltaic sector is undergoing supply-side reforms with a focus on polysilicon, which is essential for controlling costs and profit distribution across the supply chain [4]. - The establishment of a joint platform is a key step in addressing the oversupply and price wars that have plagued the industry [4]. Market Performance - Following the announcement of the joint platform, the photovoltaic sector saw a significant stock price increase, with companies like LONGi Green Energy and Trina Solar reaching new highs [2][4]. - The price recovery in the polysilicon market has led to improved profitability for several companies, indicating a positive trend for the industry [4]. Investment Recommendations - The report suggests focusing on polysilicon companies such as Tongwei Co., Daqo New Energy, and GCL-Poly Energy as key investment opportunities [4]. - Additionally, companies in the BC segment like Aiko Solar and LONGi Green Energy are highlighted for their potential independent market performance [4]. - As the supply-side reforms progress, attention is also drawn to auxiliary material companies like Foster and Xinyi Glass, which may benefit from the overall recovery in the sector [4].

Investment Rating - The report rates the photovoltaic industry as "Overweight," indicating an expectation for the industry to outperform the overall market [4]. Core Insights - The establishment of a joint platform involving 17 major companies is expected to accelerate supply-side reforms in the polysilicon sector, which is crucial for addressing the industry's overcapacity and price wars [4]. - The "anti-involution" initiative has led to significant price recovery and profit restoration across the industry, with companies like Daqo New Energy and GCL-Poly Energy reporting a return to profitability in Q3 2025 [4]. - The report suggests that the joint platform will be completed by the end of 2025, supported by top-level policies, industry self-discipline, and technological advancements, which will further stabilize prices and profits [4]. Summary by Sections Industry Overview - The photovoltaic industry is experiencing a significant shift with the formation of a joint platform aimed at addressing supply-side issues, particularly in polysilicon production [4]. - The industry has faced severe price competition leading to losses, but recent collaborative efforts are expected to restore profitability [4]. Company Analysis - Key companies to watch include: 1. Polysilicon leaders: Tongwei Co., Daqo New Energy, and GCL-Poly Energy [4]. 2. Companies with independent alpha performance: Aiko Solar and LONGi Green Energy [4]. 3. Companies in auxiliary materials: Foster and Xinyi Glass, which are expected to benefit from the overall recovery in the sector [4]. Financial Metrics - The report includes a valuation table for key companies, highlighting their market capitalization and projected net profits for 2025 and beyond [5]. - For instance, Tongwei Co. has a market cap of 112 billion yuan with a projected net profit of -5.23 billion yuan for 2025, while Daqo New Energy is projected to recover to a profit of 1.36 billion yuan in 2026 [5].