Investment Rating - The report maintains a "Buy" rating for several companies in the solar energy sector, with specific ratings of "Buy-A" and "Buy-B" assigned to various stocks [1]. Core Insights - In October 2025, the domestic solar photovoltaic (PV) new installed capacity decreased by 38.3% year-on-year, while the cumulative installed capacity from January to October increased by 39.5% year-on-year [2][12]. - The export value of solar modules in October was 16.08 billion yuan, showing a year-on-year increase of 4.9% but a month-on-month decrease of 19.5% [2][15]. - The inverter export value in October was 4.82 billion yuan, reflecting a year-on-year growth of 3.4% but a month-on-month decline of 5.2% [3][25]. - Solar power generation in October increased by 5.9% year-on-year, accounting for 4.77% of the total national power generation [4][38]. Summary by Sections Domestic Solar New Installed Capacity - In October 2025, the new installed capacity was 12.6 GW, down 38.3% year-on-year but up 30.4% month-on-month. The cumulative installed capacity from January to October reached 252.87 GW [2][12]. Export Data - Solar module exports in October totaled 16.08 billion yuan, with a year-on-year increase of 4.9% and a month-on-month decrease of 19.5%. Cumulative exports from January to October were 168.26 billion yuan, down 11.8% year-on-year [2][15]. - Inverter exports in October were valued at 4.82 billion yuan, with a year-on-year increase of 3.4% and a month-on-month decrease of 5.2%. Cumulative inverter exports from January to October reached 53.31 billion yuan, up 7.2% year-on-year [3][25]. Solar Power Generation - The solar power generation in October was 39.37 billion kWh, representing a year-on-year growth of 5.9% and a slight decrease in its share of total power generation [4][38]. Investment Recommendations - The report recommends focusing on companies such as Aishuo Co., Longi Green Energy, and Daqian Energy for new technology and supply-side directions. It also highlights companies like Haibo Sichuang and Sunshine Power for energy storage, and suggests attention to various other companies in the solar sector [4][42].

（文章来源：每日经济新闻） 每经AI快讯，12月2日，早盘有色板块震荡调整，华锡有色跌超7%，东方钽业、国城矿业、盛达资源、 鹏欣资源、江西铜业等跟跌。 ...

Group 1 - The non-ferrous metal sector experienced a decline at the beginning of trading, with Huaxi Nonferrous Metals falling over 5% [1] - Beijiete dropped more than 4%, indicating a broader downturn in the sector [1] - Other companies such as Huayu Mining, Pengxin Resources, Dazhong Mining, and Shengda Resources also saw significant declines [1]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 688231 | 隆达股份 | 24.05 | -3.57% | 6.24万 | | 1.51亿 | | 688102 | 斯瑞新材 | 23.50 | -3.49% | 37.82万 | | 9.11亿 | | 688786 | 倪安新材 | 27.41 | -2.73% | 2.44万 | | 6722.93万 | | 603978 | 深圳新星 | 32.50 | -1.87% | - 16.17万 | | 5.36亿 | | 000633 | 台金投资 | 8.45 | -1.40% | 86.13万 | | 7.39 Z | | 300835 | 龙磁科技 | 61.30 | -0.66% | 3.11万 | | 1.91亿 | | 603124 | 江南新材 | 73.49 | -0.60% | 1.18万 | | 8724.10万 | | 688190 | 云路股份 | 98.80 | -0.59% | 5446.76 ...

Core Viewpoint - The stock of Bowei Alloy has shown a mixed performance in recent months, with a year-to-date increase of 7.73% but a significant decline of 17.71% over the past 60 days, indicating volatility in investor sentiment and market conditions [2]. Group 1: Stock Performance - As of December 1, Bowei Alloy's stock price increased by 2.06% to 21.33 CNY per share, with a trading volume of 92.45 million CNY and a turnover rate of 0.53%, resulting in a total market capitalization of 17.524 billion CNY [1]. - Year-to-date, Bowei Alloy's stock has risen by 7.73%, with a 3.04% increase over the last five trading days, a 1.71% decrease over the last 20 days, and a 17.71% decline over the last 60 days [2]. Group 2: Company Overview - Bowei Alloy, established on January 22, 1994, and listed on January 27, 2011, is located in Ningbo, Zhejiang Province. The company specializes in the research, production, and sales of high-performance and high-precision non-ferrous alloy materials, solar cell components, and precision cutting wires [2]. - The revenue composition of Bowei Alloy includes 77.63% from new materials, 21.23% from new energy products, and 1.14% from other sources [2]. - The company operates within the non-ferrous metals sector, specifically in the metal new materials category, and is associated with concepts such as fast charging, DeepSeek, computing power, advanced packaging, and robotics [2]. Group 3: Financial Performance - For the period from January to September 2025, Bowei Alloy reported a revenue of 15.474 billion CNY, reflecting a year-on-year growth of 6.07%. However, the net profit attributable to shareholders decreased by 19.76% to 881 million CNY [2]. - Since its A-share listing, Bowei Alloy has distributed a total of 1.694 billion CNY in dividends, with 923 million CNY distributed over the past three years [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of shareholders in Bowei Alloy was 44,600, a decrease of 1.51% from the previous period, with an average of 18,423 circulating shares per shareholder, an increase of 1.53% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 10.8419 million shares, an increase of 5.9259 million shares from the previous period, while Nuoan Pioneer Mixed A has entered the top ten with 8.3159 million shares [3].

（编辑 任世碧） 证券日报网讯 11月26日晚间，博威合金发布公告称，公司于2025年11月26日召开第六届董事会第二十 次会议，审议通过了《关于注销2023年股票期权与限制性股票激励计划部分股票期权的议案》，同意为 符合条件的51名激励对象共计63.90万份股票期权办理行权相关事宜，注销部分激励对象已获授但尚未 行权的股票期权合计32.25万份。 ...

| | | 第六届董事会第二十次会议决议公告 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。 宁波博威合金材料股份有限公司（以下简称"公司"）于2025年11月26日在公司会议 室召开了第六届董事会第二十次会议。本次会议应出席董事9人，实际到会董事9人，其 中董事长谢识才先生、董事谢朝春先生、陈科磊先生以通讯方式参会表决；会议由董事 长谢识才先生主持，公司高级管理人员列席会议，会议的召集和召开符合《公司法》和 《公司章程》的有关规定。参会董事对相关议案进行了充分讨论，审议通过以下议案， 形成决议如下： 一、审议通过了《关于 2023 年股票期权与限制性股票激励计划预留授予期权第二 个行权期行权条件成就的议案》 表决结果：同意 9 票，反对 0 票，弃权 0 票。 具体内容详见上海证券交易所网站（www.sse.com.cn）上披露的《博威合金关于 2023 年股票期权与限制性股票激励计划预留授予期权第二个行权期行权条件成就的公告》 （公告编号：临 2025-104）。本议案在提交董事会审议前，已提交公司董事会薪酬与考 核委员会 ...

| 证券代码：601137 | 证券简称：博威合金 | | 公告编号：临 | 2025-104 | | --- | --- | --- | --- | --- | | 债券代码：113069 | 债券简称：博 23 | 转债 | | | 宁波博威合金材料股份有限公司 关于 2023 年股票期权与限制性股票激励计划 重要内容提示： 预留授予股票期权第二个行权期拟行权数量为 63.90 万份，符合行权条件的 激励对象共 51 人，行权股票来源为向激励对象定向增发的公司人民币 A 股普通股 股票。 宁波博威合金材料股份有限公司（以下简称"公司"）于 2025 年 11 月 26 日 召开第六届董事会第二十次会议，审议通过了《关于 2023 年股票期权与限制性股 票激励计划预留授予期权第二个行权期行权条件成就的议案》，现将有关事项公告 如下： 一、本次激励计划已履行的相关审批程序及信息披露情况 1、公司于 2023 年 4 月 21 日召开第五届董事会第十次会议，审议通过了《关 于公司<2023 年股票期权与限制性股票激励计划（草案）>及其摘要的议案》（以 下简称"《激励计划（草案）》"、"本次激励计划"）等相关事项 ...

| 证券代码：601137 | 证券简称：博威合金 | | 公告编号：临 | 2025-105 | | --- | --- | --- | --- | --- | | 债券代码：113069 | 债券简称：博 转债 | 23 | | | 宁波博威合金材料股份有限公司 关于注销 2023 年股票期权与限制性股票激励计划 部分股票期权的公告 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。 宁波博威合金材料股份有限公司（以下简称"公司"）于 2025 年 11 月 26 日 召开第六届董事会第二十次会议，审议通过了《关于注销 2023 年股票期权与限制 性股票激励计划部分股票期权的议案》，现将有关事项公告如下： 一、本次激励计划已履行的相关审批程序及信息披露情况 1、公司于 2023 年 4 月 21 日召开第五届董事会第十次会议，审议通过了《关 于公司<2023 年股票期权与限制性股票激励计划（草案）>及其摘要的议案》（以 下简称"《激励计划（草案）》"、"本次激励计划"）等相关事项的议案，公司 独立董事对此发表了同意的独立意见， ...

上海市锦天城律师事务所 关于宁波博威合金材料股份有限公司 2023 年股票期权与限制性股票激励计划 预留授予部分第二个行权期行权条件成就及 注销部分股票期权相关事宜的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 关于宁波博威合金材料股份有限公司 2023 年股票期权与限制性股票激励计划 预留授予部分第二个行权期行权条件成就 及注销部分股票期权相关事宜的 法律意见书 致：宁波博威合金材料股份有限公司 上海市锦天城律师事务所（以下简称"锦天城"或"本所"）接受宁波博威 合金材料股份有限公司（以下简称"公司"或"博威合金"）的委托，担任公司 "2023 年股票期权与限制性股票激励计划"（以下简称"本次激励计划"）的法 律顾问，根据《中华人民共和◿公司法》（以下简称"《公司法》"）、《中华人民 共和◿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》"）等有关法律法规的规定，按照律师行业公认的业务标准、 道德规范和勤勉尽责精神，为博威 ...