证券代码：600732 股票简称：爱旭股份 编号：临 2025－006 上海爱旭新能源股份有限公司 股票交易异常波动公告 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： 上海爱旭新能源股份有限公司（以下简称"公司"）股票于2025年2月5日、 2月6日、2月7日连续三个交易日内日收盘价格涨幅偏离值累计超过20%，属于《上海 证券交易所交易规则》规定的股票交易异常波动情形。 经公司自查，并书面征询公司控股股东和实际控制人陈刚先生，截至本公告 披露日，除公司已披露的再融资事项外，确认不存在其他应披露而未披露的重大信 息。 公司敬请广大投资者注意二级市场交易风险，审慎决策，理性投资。 一、股票交易异常波动的具体情况 公司股票于2025年2月5日、2月6日、2月7日连续三个交易日内日收盘价格涨幅偏 离值累计超过20%，属于《上海证券交易所交易规则》规定的股票交易异常波动情况。 二、公司关注并核实的相关情况 经核查，公司控股股东和实际控制人陈刚先生确认，截至目前，除公司已披露的 再融资事项外，控股股东、实际控制人未参与筹 ...

公司于 2025 年 2 月 7 日发来的《上海爱旭新能源股份有限公司股票交易异 常波动征询函》已收悉。作为公司控股股东和实际控制人,现针对函件问询事项 答复如下: 截至 2025年2月7日,除上市公司已披露的再融资事项外,本人未参与筹 划其他涉及上市公司的重大资产重组、股份发行、业务重组、股份回购、股权激 励、破产重整、重大交易或业务合作、引进战略投资者等应披露而未披露的重大 事项。 特此回复。 日 2025 年2月1 关于上海爱旭新能源股份有限公司 股票交易异常波动征询函的回复 上海爱旭新能源股份有限公司: ...

特此公告。 截至本公告披露日，何达能先生持有公司股份237,654股。辞职后，何达能先生 将会继续遵守《上市公司董事、监事和高级管理人员所持本公司股份及其变动管理规 则》《上海证券交易所上市公司自律监管指引第15号——股东及董事、监事、高级管 理人员减持股份》等相关规定。 何达能先生在任职期间，恪尽职守、勤勉尽责，公司及公司董事会对何达能先生 在担任副总经理期间为公司发展所做的贡献表示衷心感谢！ 上海爱旭新能源股份有限公司 关于公司副总经理辞职的公告 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。 上海爱旭新能源股份有限公司（以下简称"公司"）董事会于2025年2月7日收到 公司副总经理何达能先生提交的书面辞职报告，何达能先生因到龄退休的原因申请 辞去公司副总经理职务。根据《公司法》《公司章程》等有关规定，何达能先生提交 的辞职报告自送达董事会之日起生效。何达能先生辞去副总经理职务后，将不再担任 公司其他职务。 证券代码：600732 股票简称：爱旭股份 编号：临 2025－005 上海爱旭新能源股份有限公司董事会 2025年 ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [1] Core Views - The company is expected to face significant losses in 2024, with a projected net profit loss of 47.5 to 58.5 billion RMB, and a further decline in operational performance due to industry price pressures and low operating rates [7] - Despite the challenges, the company is seeing high growth in ABC component shipments, with an estimated 3.4 to 3.5 GW expected in Q4 2024, and a target of 20 GW for 2025 [7] - The company’s profitability is anticipated to gradually improve in 2025 as industry prices stabilize and cost reductions are achieved [7] - The forecast for net profit has been revised downwards for 2024-2026, with expected losses of 53.7 billion RMB in 2024, followed by a profit of 7.7 billion RMB in 2025 and 17.9 billion RMB in 2026 [7] Financial Summary - Total revenue for 2024 is projected at 12,063 million RMB, a decline of 55.60% year-on-year, with a recovery expected in subsequent years [1][8] - The company’s net profit for 2024 is forecasted to be a loss of 5,367.70 million RMB, reflecting a year-on-year decrease of 809.30% [1][8] - The earnings per share (EPS) is expected to be -2.94 RMB in 2024, with a recovery to 0.42 RMB in 2025 and 0.98 RMB in 2026 [1][8] - The company’s total assets are projected to decrease from 33,996 million RMB in 2023 to 29,120 million RMB in 2024, before increasing to 45,652 million RMB by 2025 [8]

Core Viewpoint - Aishuo Co., Ltd. (600732.SH) anticipates a significant net loss of between 4.75 billion to 5.75 billion yuan for the fiscal year 2024 due to structural overcapacity and supply-demand imbalances in the photovoltaic industry, leading to intensified market competition and a substantial decline in prices [1][2]. Group 1: Financial Performance - The company expects a net profit loss attributable to shareholders after deducting non-recurring gains and losses, projected between 4.75 billion to 5.75 billion yuan for 2024 [1]. - The decline in main business revenue and profitability is attributed to increased inventory depreciation and significant impairment of long-term assets [1]. Group 2: Industry Context - The photovoltaic industry is currently facing structural overcapacity and phase-specific supply-demand imbalances, resulting in intensified competition and a sharp drop in prices across the main industry chain [1]. Group 3: Strategic Initiatives - Aishuo Co., Ltd. is focusing on technological innovation to navigate industry cycles, promoting the development of new products and technologies [1]. - The ABC business segment has seen a significant breakthrough, with sales volume of ABC components more than doubling in the fourth quarter compared to the third quarter, alongside a continuous reduction in production costs [1]. - The company plans to launch high-value products in 2025 to meet diverse customer needs, aiming to increase sales volume and gross margins while further reducing manufacturing costs and operating expenses [2]. Group 4: Future Outlook - With sufficient orders for ABC products and an anticipated improvement in the industry ecosystem and stabilization of supply chain prices, Aishuo Co., Ltd. is positioned to leverage its leading advantage in photovoltaic conversion efficiency to potentially experience a turnaround [2].

Financial Performance Expectations - The company expects a net profit attributable to shareholders of the parent company for 2024 to be between -475 million and -585 million RMB, indicating a shift from profit to loss compared to the previous year [3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between -475 million and -575 million RMB for 2024 [4]. - In the previous year, the total profit was 699.4 million RMB, with a net profit attributable to shareholders of 756.8 million RMB and a net profit after deducting non-recurring gains and losses of 322.8 million RMB [5]. Reasons for Expected Loss - The main reasons for the expected loss in 2024 include structural overcapacity in the photovoltaic industry, intensified market competition, and significant price declines in the main industry chain [6]. Sales and Production Insights - The company has seen a more than doubling of ABC component sales in Q4 compared to Q3, with a continuous decrease in production costs and stabilization of gross profit margins [6]. - Current orders for ABC products are sufficient, and the company anticipates better development opportunities as the industry ecosystem improves and prices stabilize [6]. Future Plans - The company plans to continue launching high-value products to expand sales volume and improve sales margins in 2025, while also reducing manufacturing costs and operating expenses [6]. Financial Data and Risks - The financial data in the performance forecast has not been audited by a registered accountant, and investors are advised to be aware of related risks [7]. - The preliminary forecast data is subject to change, and the accurate financial data will be disclosed in the officially audited 2024 annual report [8].

毕。 本次股票期权注销事宜不会影响公司的股本结构，亦不会影响公司 2020 年激励 计划、2022 年激励计划、2023 年激励计划的继续实施。本次期权注销符合《上市公 司股权激励管理办法》及公司 2020 年激励计划、2022 年激励计划、2023 年激励计 划的相关规定。 证券代码：600732 股票简称：爱旭股份 编号：临 2025－002 上海爱旭新能源股份有限公司 关于部分股票期权注销完成的公告 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。 上海爱旭新能源股份有限公司（以下简称"公司"）于 2024 年 3 月 12 日召开 第九届董事会第二十四次会议和第九届监事会第二十次会议，于 2024 年 4 月 25 日 召开第九届董事会第二十六次会议和第九届监事会第二十一次会议，于 2024 年 6 月 24 日召开第九届董事会第二十七次会议和第九届监事会第二十二次会议，以及于 2024 年 10 月 30 日召开第九届董事会第三十一次会议和第九届监事会第二十五次会 议，分别审议通过了《关于注销部分限制性股票与股票期权的 ...

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 13.60 CNY based on a 20x PE for 2025 [4][6]. Core Views - The report indicates that 2024 will be a year of bottoming out for the photovoltaic industry, with a need for breakthroughs as pessimism continues to release [1][55]. - Demand for photovoltaic power generation is expected to continue to be released due to its economic viability [1][62]. - The battery and component segments are anticipated to rebound first, with the company positioned as a leader in BC battery technology [2][3][77]. Summary by Sections 1. Photovoltaic Industry Sentiment - The report highlights a significant decline in prices for polysilicon, silicon materials, and battery cells in the first half of 2024, with stabilization expected in the second half [12][13]. - The photovoltaic battery and component sectors experienced a revenue drop of 24.9% year-on-year in the first three quarters of 2024, with a net profit loss of 103.5 billion CNY [23][24]. 2. Policy Constraints and Supply - Recent domestic policies aim to eliminate outdated production capacity and prevent disorderly expansion in supply, which may accelerate the industry's bottoming out and lead to high-quality development [59][60]. 3. Economic Viability of Photovoltaic Power - The cost of photovoltaic power generation (LCOE) has decreased significantly, making it more competitive than fossil fuels, which is expected to stimulate demand [61][62]. - Global photovoltaic installations reached 345.8 GW in 2023, a 74% increase year-on-year, indicating strong industry demand [66][67]. 4. Rebound in Battery and Component Segments - Battery prices have started to rebound, with TOPCon battery prices increasing by 1.9% and 1.1% for different models between October and December 2024 [77]. - The report emphasizes that the cost reductions in industrial silicon and polysilicon will likely enhance profit margins for silicon wafers, battery cells, and components [84].

证券代码：600732 股票简称：爱旭股份 编号：临 2025－001 上海爱旭新能源股份有限公司 关于部分股权激励计划 2024 年第四季度自主行权结果 暨股份变动的公告 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： 本次行权股票数量： 1. 《上海爱旭新能源股份有限公司 2020 年股票期权激励计划》（以下简称"《2020 年激励计划》"）预留授予股票期权第二个行权期可行权股票期权数量为 796,841 份， 行权有效期为 2024 年 1 月 3 日至 2024 年 12 月 16 日。2024 年 10 月 1 日至 2024 年 12 月 16 日，激励对象行权且完成股份过户登记的数量为 286,114 股，占该期可行权股票 期权总量的 35.91%。 2. 《上海爱旭新能源股份有限公司 2022 年限制性股票与股票期权激励计划》（以 下简称"《2022 年激励计划》"）首次授予股票期权第一个行权期可行权股票期权数 量为 2,081,109 份（该数量已考虑办理完毕离职注销手续的影响），行权有效期为 ...

证券代码：600732 证券简称：爱旭股份 公告编号：临 2024－113 上海爱旭新能源股份有限公司 关于 2023 年限制性股票与股票期权激励计划限制性股票 第一个解除限售期解除限售暨上市的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 1,068,526 股。 本次股票上市流通总数为 1,068,526 股。 本次股票上市流通日期为 2025 年 1 月 3 日。 上海爱旭新能源股份有限公司（以下简称"公司"或"爱旭股份"）于 2024 年 10 月 30 日召开第九届董事会第三十一次会议和第九届监事会第二十五会议，审议通过 了《关于 2023 年限制性股票与股票期权激励计划限制性股票第一个解除限售期解除 限售条件成就的议案》。根据《上市公司股权激励管理办法》（以下简称"《管理办法》"） 及《2023 年限制性股票与股票期权激励计划》（以下简称"本次激励计划"或"《2023 年激励计划》"）的相关规定和公司 2023 年第二次临时股 ...