明阳智能公告称，公司筹划通过发行股份及支付现金购买中山德华芯片技术100%股权并募资。因该交 易存在不确定性，公司股票自2026年1月13日开市起停牌。1月22日，公司召开董事会审议通过交易预案 等相关议案。经申请，公司股票将于2026年1月23日开市起复牌。截至公告披露日，交易涉及的审计、 评估工作未完成，交易尚需履行多项审批程序，公司将继续推进相关工作并及时披露信息。 ...

Group 1 - The core viewpoint of the article highlights the strategic adjustments made by prominent fund managers at E Fund in their investment portfolios for Q4 2025, focusing on sectors like AI, healthcare, consumer goods, and technology [2][4][6][10] Group 2 - Zhang Kun adjusted the structure of investments in the healthcare, consumer, and technology sectors while maintaining a stable position in top holdings, which include Tencent Holdings, Kweichow Moutai, and Alibaba-W [4][5] - Zhang Kun expressed confidence in the improvement of living standards and social security in China over the next decade, suggesting a narrowing gap with developed countries [4] - The AI wave is seen as a significant driver for innovation, with strong domestic demand expected to attract global resources and talent [4][5] Group 3 - Chen Hao focused heavily on AI-related sectors, increasing allocations in power equipment, new energy, non-bank financials, and chemicals, which yielded positive returns [7][8] - Chen Hao anticipates a transition of the AI industry from an acceleration phase in 2025 to a stable growth phase in 2026, emphasizing the importance of structural opportunities and the integration of AI with local applications [7][8] Group 4 - Xiao Nan reduced allocations in high-end and sub-high-end liquor sectors while increasing investments in the livestock industry, anticipating inflation-driven cost increases over the next two years [10] - The top holdings in Xiao Nan's consumer sector fund remained unchanged, including Kweichow Moutai and Midea Group [10]

Investment Rating - The report does not explicitly state an investment rating for the industry. Core Insights - The demand for satellite internet networking is urgent, and space computing opens new growth opportunities. The construction of satellite internet networks is driven by strong demand due to the advantages of wide coverage, strong disaster resistance, and rapid deployment. The International Telecommunication Union (ITU) has established principles for satellite frequency and orbit usage, leading to a competitive race for low Earth orbit resources. The construction and launch of satellite constellations in China are accelerating, with a significant gap compared to the US [4][16]. - Space computing is leading to increased demand for satellites. The traditional model of "ground computing" is evolving to "space computing," with satellites equipped with AI chips and edge computing modules to process data in orbit, significantly reducing transmission delays and processing times. Major companies are investing in space computing infrastructure, which is expected to drive the demand for satellites [17][19]. - Solar wings are the only efficient and long-term energy supply solution for near-Earth commercial space. Solar wings account for approximately 12%-24% of the satellite's value, and their area is continuously increasing, which enhances the overall power supply capacity of satellites. The transition from rigid to flexible solar wings is a key trend, with different technological routes being adopted in China and the US [4][28][38]. Summary by Sections Satellite Internet Networking - The urgent need for satellite internet networking is driven by the rapid release of rigid application demands in communication, navigation, and remote sensing. The construction of satellite internet networks is becoming increasingly critical due to limited low Earth orbit resources and the competitive landscape [11][16]. - The ITU's "first come, first served" principle has intensified the competition for satellite orbital resources, with China lagging in the completion rate of its satellite constellations compared to the US [16][18]. Space Computing - Space computing is transforming satellite demand by embedding AI capabilities into satellite systems, allowing for in-orbit data processing and reducing the need for ground-based data transmission. This shift is expected to significantly enhance the capabilities and applications of satellites [19][22]. Solar Wings - Solar wings are essential for providing continuous power to satellites, with their value accounting for a significant portion of the satellite's overall worth. The area of solar wings is increasing, which is expected to enhance the power supply capabilities of satellites [28][30]. - The transition from rigid to flexible solar wings allows for greater power generation efficiency and is particularly suited for high-power and multi-satellite launch scenarios. The flexible solar wings can achieve a higher power-to-weight ratio and better space utilization [38][45]. Technology Routes - There are notable differences in the solar wing battery technology routes between China and the US. The US primarily uses silicon solar cells due to their lower costs and established supply chains, while China is exploring gallium arsenide cells for their higher power-to-weight ratios and efficiency [51][62]. - Gallium arsenide cells are being actively explored for cost reduction, and perovskite cells are emerging as a potential next-generation solution for solar wings due to their low cost and high efficiency [65][69].

Group 1 - The company held its first extraordinary general meeting of shareholders on January 19, 2026, at its headquarters in Zhongshan, Guangdong Province [2] - The meeting was convened by the board of directors and chaired by Chairman Zhang Chuanwei, utilizing a combination of on-site and online voting [2][3] - All resolutions presented at the meeting were approved without any objections [2][4] Group 2 - The company announced a guarantee for its wholly-owned subsidiary, Italy Mingyang, related to the San Pancrazio project, with a contract amount of €16,170,000, equivalent to approximately ¥131.13 million [8][12] - The guarantee covers the performance obligations of Italy Mingyang under the operation and maintenance contract for the wind turbines supplied to Tozzi Green [8][12] - The board of directors believes that the guarantee aligns with the company's strategic interests and does not pose risks to the company or its shareholders [13] Group 3 - The company is in the process of planning a share issuance and cash payment for asset acquisition, which constitutes a related party transaction but is not expected to be a major asset restructuring [17][18] - The company's stock has been suspended since January 13, 2026, to ensure fair information disclosure and protect investor interests, with the suspension expected to last no more than 10 trading days [17][18] - The transaction is still in the planning stage, and no formal agreements have been signed yet, with the final implementation subject to board and shareholder approval [18]

Group 1 - The core point of the article is that Mingyang Smart Energy has announced its total external guarantee contracts amounting to approximately RMB 3.939 billion, which represents 15.01% of the company's audited net assets attributable to the parent company for the fiscal year 2024 [1] - The balance of external guarantees provided by the company and its subsidiaries is approximately RMB 2.133 billion, accounting for 8.13% of the company's audited net assets attributable to the parent company for the fiscal year 2024 [1]

Core Viewpoint - The company is planning to issue shares and pay cash to acquire assets while raising matching funds through a related transaction, which is expected not to constitute a major asset restructuring [1] Group 1 - The company's stock will be suspended from trading starting January 13, 2026, for a period not exceeding 10 trading days [1] - As of the announcement date, relevant parties are still in discussions regarding the transaction plan, and due to the need for clarification of details, the company's A-share stock will continue to be suspended [1] - The transaction is in the planning stage, with no formal agreements signed yet, and it requires approval from the board of directors, shareholders, and regulatory authorities, indicating uncertainty [1]

证券代码：601615 证券简称：明阳智能 公告编号：2026-005 明阳智慧能源集团股份公司 关于筹划发行股份及支付现金购买资产并募集配套 停牌期间，公司将根据本次交易的进展情况，严格按照有关法律法规的规 定和要求履行信息披露义务。待相关交易事项确定后，公司将及时发布相关公告 并申请公司A股股票复牌。 本次交易正处于筹划阶段，交易各方尚未签署正式的交易协议，且本次交 易尚需提交公司董事会、股东会审议，并经有权监管机构批准、审核通过或同意 注册后方可正式实施，最终能否实施尚存在不确定性，有关信息均以公司指定信 息披露媒体发布的公告为准。敬请广大投资者理性投资，注意投资风险。 特此公告。 明阳智慧能源集团股份公司 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。 明阳智慧能源集团股份公司（以下简称"公司"）正在筹划发行股份及支付 现金购买资产并募集配套资金暨关联交易事项（以下简称"本次交易"）。根据 《上市公司重大资产重组管理办法》等有关规定，本次交易构成关联交易，预计 不构成重大资产重组。 鉴于上述事项尚存在不确定性，为了保证 ...

| 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保总额（万元） | 393,889.63 | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 15.01 | | 100% 特别风险提示 | □对外担保总额超过最近一期经审计净资产 | | | □担保金额超过上市公司最近一期经审计净 | | 资产 | 50% | | | □对合并报表外单位担保金额达到或超过最 | | | 近一期经审计净资产 30%的情况 | | | 对资产负债率超过 70%的单位提供担保 | 证券代码：601615 证券简称：明阳智能 公告编号：2026-006 明阳智慧能源集团股份公司 关于向境外子公司提供担保的公告 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： 担保对象及基本情况 | | | 被担保人名称 | Ming Yang Italy S.r.l.（以下简称"意 大利明阳"） | | --- | --- | --- | --- | | 担 | ...

北京市中伦（深圳）律师事务所 关于明阳智慧能源集团股份公司 2026 年第一次临时股东会的 法律意见书 二〇二六年一月 北京市中伦（深圳）律师事务所 关于明阳智慧能源集团股份公司 2026 年第一次临时股东会的 法律意见书 致：明阳智慧能源集团股份公司 北京市中伦（深圳）律师事务所（以下简称"本所"）受明阳智慧能源集团 股份公司（以下简称"公司"）委托，指派周雨翔律师、段霏霏律师出席并见证 公司 2026 年第一次临时股东会（以下简称"本次股东会"），并依据《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》"）、《上市公司股东会规则》（以下简称"《股东会规则》"） 以及《明阳智慧能源集团股份公司章程》（以下简称"《公司章程》"）等有关规定， 就本次股东会的召集、召开程序、出席现场会议人员的资格、召集人资格、会议 表决程序及表决结果等事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司本次股东会的有关文件和材料。 本所律师得到公司如下保证，即其已提供了本所律师认为出具本法律意见书所必 需的材料，所提供的原始材料、副本、复印件等材料、口头证言均符合真实 ...

| 1、出席会议的股东和代理人人数 | 1,704 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 981,549,797 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 45.4386 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况 等。 (一) 股东会召开的时间：2026 年 1 月 19 日 (二) 股东会召开的地点：广东省中山市火炬开发区火炬路 22 号明阳工业园， 明阳智慧能源集团股份公司 5 楼会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 本次股东大会由公司董事会召集，董事长张传卫先生主持。会议采取现场投 票及网络投票相结合的方式召开并表决。会议的召集和召开符合《公司法》、《公 司章程》的规定。 证券代码：601615 证券简称：明阳智能 公告编号：2026-007 明阳智慧能源集团股份公司 2026年第一次临时股东会决议公告 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 ...