Core Insights - Mingyang Smart Energy's stock price increased by 2.04% on November 28, reaching 13.51 CNY per share, with a total market capitalization of 30.688 billion CNY [1] - The company has seen a year-to-date stock price increase of 9.64%, with a recent 5-day increase of 3.45% and a 20-day decrease of 10.77% [1] Financial Performance - For the period from January to September 2025, Mingyang Smart Energy reported a revenue of 26.304 billion CNY, representing a year-on-year growth of 29.98% [2] - The net profit attributable to shareholders for the same period was 766 million CNY, showing a year-on-year decrease of 5.29% [2] Shareholder Information - As of September 30, 2025, the number of shareholders increased to 129,300, up by 8.84% from the previous period [2] - The average number of tradable shares per shareholder decreased by 8.12% to 17,564 shares [2] - The company has distributed a total of 2.858 billion CNY in dividends since its A-share listing, with 1.999 billion CNY distributed over the last three years [3] Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited was the fourth largest circulating shareholder, holding 65.2801 million shares, a decrease of 3.1152 million shares from the previous period [3] - HSBC Jintrust Low Carbon Pioneer Stock A has exited the list of the top ten circulating shareholders [3]

（记者 张明双） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 每经AI快讯，明阳智能（SH 601615，收盘价：13.37元）11月26日晚间发布公告称，截至公告披露日， 上市公司及其控股子公司对外担保合同总额为人民币约53.88亿元，占公司2024年度经审计归属于母公 司净资产的20.53%；根据日常营运需求及项目建设情况，上市公司及其控股子公司对外担保余额为人 民币约25.81亿元，占公司2024年度经审计归属于母公司净资产的9.84%。 2025年1至6月份，明阳智能的营业收入构成为：产品销售收入占比92.08%，发电及售电收入占比 4.42%，风电场发电占比2.7%，其他业务占比0.8%。 截至发稿，明阳智能市值为304亿元。 每经头条（nbdtoutiao）——国开行辟谣的"人民资产"是什么？记者实探：号称投资600元80天赚8万 元！一位投资人的女儿：劝不住她，警察都拦不住 ...

证券代码：601615 证券简称：明阳智能 公告编号：2025-080 经公司2024年8月5日召开第三届董事会第十一次会议及第三届监事会第七 次会议,以及2024年8月27日召开2024年第一次临时股东大会决议通过，将原计划 投入2020年度非公开发行股票项目的募集资金投资项目中汕尾海洋工程基地（陆 丰）项目明阳智能海上风电产业园工程项目剩余募集资金89,111.20万元及该项 目利息净额2,943.12万元（利息收入扣减手续费支出，具体以转出当日募集资金 银行余额为准），变更用于投资建设：1）玉门市明智风力发电有限公司明阳玉 门市新民堡10万千瓦风电场项目（以下简称"明阳新民堡项目"），拟使用募集 资金金额20,111.20万元以及利息净额2,943.12万元（利息收入扣减手续费支出， 具体以转出当日募集资金银行余额为准），合计23,054.32万元；2）张家口明阳 察北阿里巴巴数据中心源网荷储一体化项目（以下简称"明阳察北项目"），拟 使用募集资金金额为69,000.00万元。详见公司于2024年8月6日在指定信息披露 媒体上披露的《关于变更部分募集资金投资项目的公告》（公告编号：2024-073）。 ...

证券代码：601615 证券简称：明阳智能 公告编号：2025-079 明阳智慧能源集团股份公司 关于向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 被担保人名称 无锡明阳氢燃动力科技有限公司 （以下简称"明阳氢燃"） 本次担保金额 500.00 万元 实际为其提供的担保余额 2,500.00 万元（含本次金额） 是否在前期预计额度内 是 □否 □不适用：_________ 本次担保是否有反担保 是 □否 □不适用：_________ 担保对象及基本情况 累计担保情况 （一）担保的基本情况 2025 年 11 月 25 日，为满足明阳智慧能源集团股份公司（以下简称"公司"） 控股子公司明阳氢燃的经营周转需要，明阳氢燃向兴业银行股份有限公司无锡分 行（以下简称"兴业银行无锡分行"）申请流动资金借款,金额合计人民币 500.00 万元；公司为前述事项提供连带责任担保合计不超过人民币 500.00 万元，保证 期间根据主合同项下债权人对债务人所提供的每笔融资分别计算，就每笔融资 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [6] Core Views - The company reported a revenue of 26.3 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 30%, while the net profit attributable to shareholders was approximately 770 million yuan, a decline of 5% year-on-year. In Q3 alone, the revenue was about 9.2 billion yuan, with a year-on-year increase of 9%, and the net profit was approximately 160 million yuan, up 5% year-on-year [2][4] Summary by Sections Revenue Performance - In Q3, the company achieved a wind turbine shipment of approximately 4.2 GW, with onshore wind accounting for about 3.1 GW and offshore wind for about 1.1 GW, generating sales revenue of approximately 8.04 billion yuan, a year-on-year increase of 9%. The revenue from power station products was about 610 million yuan, showing some growth, while the revenue from power station operation decreased by 23% to approximately 270 million yuan [12] Profitability - The gross margin for Q3 was approximately 10.3%, an increase of 5.5 percentage points year-on-year. The period expense ratio was about 8.7%, down 0.7 percentage points year-on-year. The net profit margin was approximately 1.7%, showing a year-on-year decline [12] Other Key Indicators - The company's inventory and contract liabilities were approximately 18.5 billion yuan and 8.2 billion yuan, respectively, both at historical highs, which lays a foundation for future delivery performance [12] - The company is expected to see an improvement in the average delivery price of wind turbines in 2026, with a significant release of performance anticipated. The net profit attributable to shareholders is projected to be approximately 1.1 billion yuan and 2.8 billion yuan for 2025 and 2026, respectively, corresponding to price-to-earnings ratios of approximately 27 times and 11 times [12]

Core Insights - Ruifeng (Tangshan) New Energy Co., Ltd. has been established with a registered capital of 1.5 million RMB, focusing on various aspects of renewable energy, particularly offshore wind power and photovoltaic equipment [1][2] Company Information - The legal representative of Ruifeng (Tangshan) New Energy Co., Ltd. is Ge Ritu [1] - The company is wholly owned by Mingyang Smart Energy (601615) [1] - The registered address is located in Tangshan International Tourism Island, Hebei Province [2] - The company operates in the electric power and heat production and supply industry [2] Business Scope - The business scope includes sales of generators and generator sets, research and development of offshore wind power systems, sales of offshore wind power equipment, wind power technology services, sales of wind farm equipment, and research and development of wind farm systems [1][2] - Additional services include sales of photovoltaic equipment and components, as well as various technical services related to renewable energy [2]

Core Insights - The strategic cooperation framework agreement between Mingyang Smart Energy and ACWA Power marks a significant advancement in global clean energy collaboration, focusing on localized manufacturing, integrated energy synergy, and joint project development [1][2] - The partnership aims to support Saudi Arabia's Vision 2030 and contribute to the global carbon neutrality process by creating exemplary projects in green energy cooperation [1] - Mingyang Smart Energy will provide customized products and advanced technical support for ACWA Power's wind power projects, leveraging its expertise in system design and operational platforms to optimize lifecycle costs and enhance asset returns [1] Group 1: Strategic Cooperation - The collaboration will extend to multi-energy complementary integrated energy sectors, planning large-scale integrated energy bases in the Middle East, exploring innovative models for wind-solar-storage-hydrogen-ammonia operations [2] - ACWA Power plans to jointly develop wind and other renewable energy projects in China with Mingyang Smart Energy, promoting deep integration in technology standards, capital flow, and market mechanisms [2] - The partnership is expected to accelerate the localization of clean energy technologies in the Middle East and Central Asia, reinforcing ACWA Power's leadership in the global renewable energy sector [2] Group 2: Company Profiles - ACWA Power, headquartered in Saudi Arabia, operates over 110 power, desalination, and renewable energy projects across 15 countries, playing a key role in global green infrastructure development [3] - Mingyang Smart Energy provides comprehensive energy solutions across multiple fields, including wind, solar, energy storage, and hydrogen, serving numerous countries and regions worldwide [3] - The collaboration between these two leading companies is anticipated to create a new paradigm for international clean energy cooperation [3]

资金流向方面，主力资金净流出3152.09万元，特大单买入382.14万元，占比1.51%，卖出2180.74万元， 占比8.63%；大单买入4997.80万元，占比19.77%，卖出6351.29万元，占比25.13%。 机构持仓方面，截止2025年9月30日，明阳智能十大流通股东中，香港中央结算有限公司位居第四大流 通股东，持股6528.01万股，相比上期减少311.52万股。汇丰晋信低碳先锋股票A（540008）退出十大流 通股东之列。 明阳智能今年以来股价涨9.97%，近5个交易日跌8.20%，近20日跌11.96%，近60日涨8.05%。 责任编辑：小浪快报 资料显示，明阳智慧能源集团股份公司位于广东省中山市火炬开发区火炬路22号，成立日期2006年6月2 日，上市日期2019年1月23日，公司主营业务涉及新能源高端装备制造,新能源电站投资运营及智能管理 业务。主营业务收入构成为：销售商品100.00%。 明阳智能所属申万行业为：电力设备-风电设备-风电整机。所属概念板块包括：芯片概念、GDR概念、 中盘、融资融券、养老金概念等。 截至9月30日，明阳智能股东户数12.93万，较上期增加8.84%； ...

Core Viewpoint - The company has approved a real estate asset-backed special plan to enhance its asset utilization and promote sustainable operations in the wind power infrastructure sector [2][18]. Group 1: Meeting and Resolutions - The third board meeting of the company was held on November 19, 2025, with all 11 directors present, and the resolutions passed were deemed legally valid [1][3]. - The board approved the implementation of a real estate asset-backed special plan, involving the company's subsidiary, Beijing Jieyuan New Energy Investment Co., Ltd., and its project in Shaanxi [2][6]. Group 2: Project Implementation Progress - The company initiated the asset-backed special plan on September 25, 2025, and has since submitted the plan to the Shanghai Stock Exchange for acceptance [6][7]. - The special plan will utilize the Shaanxi Jingbian Ningtiaoliang Wind Farm project as the underlying asset, which has a total installed capacity of 150 MW [8]. Group 3: Financial Arrangements - The plan includes financial arrangements such as factoring financing cooperation to manage uncertainties related to government subsidy payments [9]. - The original equity holder, Beijing Jieyuan, will provide liquidity support and construction project loan support to ensure the project's smooth operation [10][13]. Group 4: Impact on the Company - The implementation of the asset-backed special plan is expected to activate existing assets and unlock their potential value, contributing to a positive investment cycle in the wind power sector [18].

Core Viewpoint - Mingyang Smart Energy announced the approval of a special asset-backed plan for real estate holdings, focusing on renewable energy projects [2] Group 1: Company Actions - The company’s board approved the proposal to initiate the issuance of a special asset-backed plan for real estate holdings [2] - The plan involves the company’s subsidiary, Beijing Jieyuan New Energy Investment Co., Ltd., using its holdings in Xi'an Jingbian Mingyang New Energy Power Co., Ltd. as the project company [2] - The underlying asset for the plan is the Ningtiaoliang Wind Farm project held by Jingbian Mingyang [2] Group 2: Regulatory Process - The company has submitted the special plan for approval to the Shanghai Stock Exchange, which has accepted the application [2] - The various tasks related to the application process are progressing as scheduled [2]