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 预留授予激励对象名单（预留授予日） 本激励计划拟预留授予的股票期权在各激励对象间的分配情况如下表所示： | 职务 | | 获授的股票期权 | 占本计划拟 | 占授予时公司 | | --- | --- | --- | --- | --- | | | | 的数量 | 授予权益总 | 总股本的比例 | | | | （万份） | 数的比例 | | | 核心技术骨干（19 | 人） | 63.50 | 2.75% | 0.03% | | 预留授予部分合计（19 | 人） | 63.50 | 2.75% | 0.03% | 三、预留授予部分的其他激励对象 一、预留授予的限制性股票分配情况表 本激励计划拟预留授予的限制性股票在各激励对象间的分配情况如下表所示： | 序号 | 姓名 | 职务 | 获授的限制性股票 | 占本计划拟 | 占授予时公司 | | --- | --- | --- | --- | --- | --- | | | | | 数量（万股） | 授予权益总 数的比例 | 总股本的比例 | | 1 | 李斌 | 董事会秘书 | 30.00 | ...

证券简称：爱旭股份 证券代码：600732 上海荣正企业咨询服务（集团）股份有限公司 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 预留授予相关事项 之 独立财务顾问报告 二〇二五年九月 | 一、释义···························································································3 | | --- | | 二、声明···························································································5 | | 三、基本假设·····················································································6 | | 四、独立财务顾问意见 ········································································7 | | （一）本次 ...

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 预留授予相关事项的法律意见书 国枫律证字[2025]AN046-3号 GRANDWAY 国枫律证字[2025]AN046-3 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 2025 年限制性股票与 股票期权激励计划的法律意见书》(以下称"《2025 年限制性股票与股票期权激励计 划的法律意见书》")、《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调整及首次授予相关事项的法律意见书》,现就本 次激励计划限制性股票与股票期权预留部分授予有关事项(以下称"本次授予")出 具本法律意见书。 本所律师根据《公司法》《证券法》《管理办法》《律师事务 ...

证券代码：600732 证券简称：爱旭股份 公告编号：临 2025－094 上海爱旭新能源股份有限公司 关于 2025 年半年度业绩说明会召开情况的公告 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。 为便于广大投资者更全面深入地了解上海爱旭新能源股份有限公司（以下简称 "公司"）的业绩和经营情况，公司于 2025 年 9 月 26 日（星期五）下午 16:00-17:00 通过上证路演中心（网站：https://roadshow.sseinfo.com/）召开了 2025 年半年度业绩 说明会，就公司 2025 年半年度经营成果、财务状况等具体情况与投资者进行互动交 流和沟通，在信息披露允许的范围内就投资者普遍关注的问题进行了解答。现将有 关事项公告如下： 一、业绩说明会召开情况 （一）会议召开时间：2025 年 9 月 26 日（星期五）下午 16:00-17:00 （二）会议召开地点：上证路演中心 （三）会议召开方式：上证路演中心网络互动 （四）参加人员：公司董事长兼总经理陈刚先生，独立董事徐莉萍女士，财务 负责人邹细辉 ...

证券代码：600732 证券简称：爱旭股份 公告编号：临 2025－092 上海爱旭新能源股份有限公司 第九届监事会第三十三次会议决议公告 本公司监事会及全体监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"）第九届监事会第三十三次 会议的通知于 2025 年 9 月 24 日以电子邮件方式送达。会议于 2025 年 9 月 26 日以 通讯方式召开，应参会监事 3 名，实际参会监事 3 名。本次会议的召集和召开符合 《公司法》及《公司章程》及其他有关法律、法规的相关规定，形成的决议合法有 效。 （1）公司监事会对公司 2025 年限制性股票与股票期权激励计划本次授予条件 是否成就进行核查，认为： 公司不存在《上市公司股权激励管理办法》等法律、法规和规范性文件规定的 禁止实施股权激励计划的情形，公司具备实施股权激励计划的主体资格；激励计划 本次授予的激励对象具备《中华人民共和国公司法》等法律法规和规范性文件规定 的任职资格，符合《上市公司股权激励管理办法》规定的激励对象条件，符合《上 ...

上海爱旭新能源股份有限公司 监事会关于公司 2025 年限制性股票与股票期权激励计划 预留授予激励对象名单（预留授予日）的核查意见 上海爱旭新能源股份有限公司（以下简称"公司"）监事会根据《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》《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、法规和规范性文 件以及公司《2025 年限制性股票与股票期权激励计划》（以下简称"激励计划"） 和《上海爱旭新能源股份有限公司章程》的有关规定，对本次激励计划预留授予 的激励对象名单及授予安排等相关事项进行审核，发表核查意见如下： 因此，监事会同意以 2025 年 9 月 26 日作为本次激励计划的预留授予日，同 意向 76 名激励对象授予 398.25 万股限制性股票，授予价格为每股 5.68 元，向 19 名激励对象授予 63.50 万份股票期权，行权价格为每份 9.09 元。 （3）最近 12 个月内因重大违法违规行为被中国证监会及其派出机构行政处 罚或者采取市场禁入措施； （4）具有《公司法》规定的不得担任公司董事、高级管理人员情形的； （5）法律法规规定不得参与上市公司股 ...

Summary of Key Points from the Conference Call Industry Overview - The conference call primarily discusses the **polysilicon industry** and its dynamics within the **photovoltaic (PV) sector** [1][2][3]. Core Insights and Arguments - **Energy Consumption Standards**: New energy consumption standards may reduce effective polysilicon production capacity by **30%**, down to **2.4 million tons/year**. Non-compliant companies may face rectification or shutdown [1][3]. - **Price Dynamics**: Polysilicon market prices are polarized; resources priced below **52,000 CNY/ton** are in high demand, while those above **53,000 CNY/ton** face limited acceptance. This is attributed to cautious price transmission from components and anticipated hydropower reductions [1][4]. - **Anti-Competition Policies**: The government has strengthened anti-competition policies, introducing penalties for below-cost dumping, which is deemed unfair pricing. This has led to a more robust internal price feedback mechanism [1][5]. - **Profitability Potential**: The average price of polysilicon is approximately **50,000 CNY/ton**, with a cash cost of about **27,000 CNY/ton**, allowing for a net profit of **7,000 CNY/ton**. However, the industry's operating rate is below **70%**, impacting profitability [1][6]. - **Supply Chain Reforms**: Expectations for supply-side reforms in the PV industry are increasing, with a clear logic for price recovery. The commitment to anti-competition measures is crucial for restoring a healthy market structure [1][7]. Additional Important Content - **Recent Price Adjustments**: As of September 5, domestic polysilicon prices have increased, with rod silicon priced at **55,000 CNY/ton** and granular silicon at **49,000 CNY/ton**. The PV sector has shown good performance, primarily driven by energy storage [1][8]. - **Challenges in the Industry**: The polysilicon industry faces challenges such as low operating rates, increased fixed costs due to depreciation, and ongoing losses for some manufacturers despite cost optimization efforts [1][11]. - **Investment Recommendations**: The industry is expected to experience a supply-demand turning point due to anti-competition measures. Key investment areas include polysilicon materials and PV glass, with specific companies recommended for attention [1][14][15]. Conclusion - The polysilicon industry is undergoing significant changes driven by new regulations and market dynamics. The focus on anti-competition measures and supply-side reforms is expected to lead to improved profitability and a healthier market structure in the photovoltaic sector.

Core Viewpoint - Aixiang Co., Ltd. has experienced a stock price decline of 2.05% on September 26, with a current price of 15.77 CNY per share and a total market capitalization of 33.39 billion CNY. The company has shown a year-to-date stock price increase of 43.10% [1] Financial Performance - For the first half of 2025, Aixiang Co., Ltd. achieved operating revenue of 8.446 billion CNY, representing a year-on-year growth of 63.63%. The net profit attributable to shareholders was -238 million CNY, an increase of 86.38% compared to the previous period [2] Shareholder Information - As of June 30, 2025, the number of shareholders for Aixiang Co., Ltd. was 78,200, a decrease of 2.05% from the previous period. The average number of circulating shares per shareholder increased by 1.26% to 20,272 shares [2] Dividend Distribution - Aixiang Co., Ltd. has distributed a total of 921 million CNY in dividends since its A-share listing, with 715 million CNY distributed over the past three years [3] Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited as the third-largest shareholder with 33.03 million shares, a decrease of 6.88 million shares from the previous period. Other notable shareholders include GF High-end Manufacturing Stock A and Invesco Great Wall New Energy Industry Stock A, with significant changes in their holdings [3]

Investment Rating - The report maintains a "Synchronize with the market - A" rating for the power equipment and new energy industry [1] Core Viewpoints - The power equipment and new energy industry has shown a stable market performance over the past year, with significant developments such as the tightening of energy consumption standards for polysilicon and advancements in robotics technology [1][3] - The new energy sector is experiencing a shift towards stricter energy consumption regulations, which is expected to lead to a substantial improvement in the supply-demand balance for polysilicon [3][7] Summary by Relevant Sections Investment Recommendations - Recommended stocks include: - Buy - A: 福莱特 (601865.SH), 横店东磁 (002056.SZ), 阳光电源 (300274.SZ), 阿特斯 (688472.SH), 德业股份 (605117.SH), 石英股份 (603688.SH), 博威合金 (601137.SH) - Buy - B: 爱旭股份 (600732.SH), 隆基绿能 (601012.SH), 大全能源 (688303.SH), 朗新集团 (300682.SZ) [2] - Additional stocks to actively monitor include: 协鑫科技, 通威股份, 信义光能, TCL 中环, 新特能源, 帝尔激光, 福斯特, 晶澳科技, 天合光能, 晶科能源, 迈为股份, 晶盛机电, 弘元绿能 [10] Industry Performance - In August, the industrial solar power generation increased by 15.9%, while wind power generation grew by 20.2%, indicating a robust growth trend in the renewable energy sector [4] - The average energy consumption for polysilicon is projected to tighten significantly, with new standards suggesting a reduction to 6.69 kgce/kg for 2024, compared to previous expectations [3][4] Price Tracking - Polysilicon prices have shown an upward trend, with dense material averaging 51.0 CNY/kg, up 2.0% from the previous week, indicating a tightening supply situation [6] - The price of silicon wafers and battery cells has also increased, reflecting the upward pressure from upstream costs [8][9]

Core Viewpoint - Yimi Fund Management Co., Ltd. has participated in the non-public issuance of shares for Xiangtan Electric Manufacturing Co., Ltd. and Shanghai Aisxu New Energy Co., Ltd. [1] Group 1 - The fund involved is the Yimi Vision Value One-Year Regular Open Mixed Securities Investment Fund [1] - The announcement includes compliance with the China Securities Regulatory Commission's regulations regarding fund investments in non-publicly issued stocks [1] - The net asset value and book value of the fund are based on data as of September 24, 2025 [1] Group 2 - Investors can access further information through the company's website or customer service hotline [1] - The announcement was made on September 26, 2025 [1]