智通财经APP获悉，中泰证券发布研报称，国内海上风机、海外出口风机毛利率显著高于国内，未来整 机商双海出货占比提升，结构优化进一步改善盈利能力。风机毛利率有望在25H2或26H1看到改善，叠 加双海放量驱动量利齐升，贡献增量弹性。建议持续重点关注风机板块：运达科技(300440.SZ)、金风 科技(002202.SZ)、明阳智能(601615.SH)及三一重能(688349.SH)等。 中泰证券主要观点如下： 海外风电仍有较大开拓空间，主机厂在手订单有望集中兑现：2024年国内风机出口占海外风机新增装机 14%，海外市场仍有较大提升空间。该行认为，后续在海外风电需求起量背景下(据GWEC，2025-2030 年海外陆风年均装机61.5GW，海外海风年均装机11.7GW，其中亚非拉陆风年均装机27.5GW)，叠加国 内头部整机商历经几年的市场开拓(金风/明阳/运达/三一2025年交付目标分别为3.5/0.3-0.5/0.3-0.4/1- 1.5GW，新增订单目标分别为6+/4/2+/3+GW)，海外订单有望在未来2-3年及以后加速兑现。 风险提示：国内外需求不及预期;竞争加剧;海外拓展不及预期;地缘政治风险;数 ...

Core Viewpoint - The announcement details the pledge of shares by Wiser Tyson Investments Corp Limited, a shareholder of Mingyang Smart Energy Group Co., Ltd., indicating that this pledge will not affect the company's control or operations [1][2][5]. Share Pledge Details - Wiser Tyson holds 157.062475 million shares, representing 6.91% of the total share capital of 2,271,496,706 shares. After the pledge, the total pledged shares amount to 45 million, which is 1.98% of the total share capital [1][2]. - The controlling shareholder, Mingyang New Energy Investment Holding Group Co., Ltd., along with associated shareholders, holds a total of 577.9809 million shares, accounting for 25.44% of the total share capital. After the pledge, the total pledged shares by the controlling shareholder and associated shareholders reach 271.6535 million, which is 11.96% of the total share capital [2][4]. Impact on Company Operations - The share pledge will not lead to any change in the control of the listed company and will not adversely affect the company's operations, equity structure, corporate governance, or performance compensation obligations [2][5].

明阳智能（SH 601615，收盘价：12.54元）8月20日晚间发布公告称，明阳智慧能源集团股份公司股东 Wiser Tyson Investments Corp Limited持有公司股份约1.57亿股，占公司当前总股本（即约22.71亿股）的 6.91%。 2024年1至12月份，明阳智能的营业收入构成为：产品销售收入占比89.82%，发电及售电收入占比 6.39%，风电场发电占比2.12%，其他业务占比1.67%。 （文章来源：每日经济新闻） 本次股份质押后，Wiser Tyson 累计质押股份数量为4500万股，占公司当前总股本的1.98%。公司控股股 东明阳新能源投资控股集团有限公司与公司关联股东Wiser Tyson 、First Base Investments Limited、 Keycorp Limited、海南博蕴投资合伙企业（有限合伙）、中山瑞信企业管理咨询合伙企业（有限合 伙）、北海瑞悦创业投资有限公司合计持有公司股份约5.78亿股，占公司当前总股本的25.44%。本次股 份质押后，控股股东及其关联股东累计质押公司股份约2.72亿股，占其持有公司股份的47%，占公司当 前总股本的11 ...

证券代码：601615 证券简称：明阳智能 公告编号：2025-048 明阳智慧能源集团股份公司 关于股东股份质押的公告 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: 明阳智慧能源集团股份公司（以下简称"明阳智能"、"公司"）股东 Wiser Tyson Investments Corp Limited（以下简称 Wiser Tyson）持有公司股份 15,706.2475 万股，占公司当前总股本（即 2,271,496,706 股）的 6.91%。本次 股份质押后，Wiser Tyson 累计质押股份数量为 4,500.0000 万股，占公司当前 总股本的 1.98%。 公司控股股东明阳新能源投资控股集团有限公司（以下简称"能投集团"） 与公司关联股东 Wiser Tyson 、First Base Investments Limited（以下简称 "First Base"）、Keycorp Limited（以下简称"Keycorp"）、海南博蕴投资合伙 企业（有限合伙）（以下简称"海南博蕴",原宁波博蕴天 ...

Market Performance - On August 20, the wind power equipment sector rose by 0.49% compared to the previous trading day, with Feiwo Technology leading the gains [1] - The Shanghai Composite Index closed at 3766.21, up 1.04%, while the Shenzhen Component Index closed at 11926.74, up 0.89% [1] Individual Stock Performance - Feiwo Technology (301232) closed at 40.00, up 3.60%, with a trading volume of 60,100 shares and a transaction value of 236 million [1] - Sany Heavy Energy (688349) closed at 28.50, up 3.52%, with a trading volume of 50,100 shares and a transaction value of 141 million [1] - Jixin Technology (601218) closed at 4.48, up 2.05%, with a trading volume of 697,700 shares and a transaction value of 311 million [1] - Other notable performers include Tianshun Wind Power (002531) up 2.04% and Goldwind Technology (002202) up 1.64% [1] Capital Flow Analysis - The wind power equipment sector experienced a net outflow of 471 million from institutional investors, while retail investors saw a net inflow of 407 million [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are more active [2] Detailed Capital Flow for Selected Stocks - Goldwind Technology (002202) had a net outflow of 44.41 million from institutional investors, while retail investors contributed a net inflow of 34.89 million [3] - Feiwo Technology (301232) saw a net inflow of 29.99 million from institutional investors, but retail investors had a net outflow of 18.96 million [3] - Jixin Technology (601218) experienced a net inflow of 24.00 million from institutional investors, while retail investors had a net outflow of 29.34 million [3]

2025年风电设备标杆企业组织效能报告总结 今天分享的是：顺为咨询：2025年风电设备标杆企业组织效能报告 报告共计：48页 2025年8月，顺为咨询发布《2025年风电设备标杆企业组织效能报告》，选取10家标杆企业（5家整机厂商、5家零部件厂商），它们在2024年中国风电新增 装机中占比67%，能代表行业运营状态。 从行业观察看，2024年全球GDP增速3.9%，中国经济增长态势良好。电力结构上，清洁能源占比升至37%，风电发电量1.0万亿千瓦时，同比增13%。新能源 发电累计装机首超火电，风光累计和新增装机占比分别达42%、83%。政策推动下，风电市场化优势凸显，"十五五"风光新增装机比重或达1:2至1:1。全球 风电2024年新增装机117GW，中国占68%；中国新增80GW，近五年CAGR 25%。风机市场规模稳步增长，预计2030年达1366亿元，行业集中度持续提升， CR5从2020年65%升至2024年75%。中国风电企业全球竞争力强，但海外拓展空间大，海上风电受政策推动，2025年预计新增10GW，全球2025 - 2030年累计 新增或达156GW。行业呈现深远海延伸、风机大型化轻量化、业务 ...

金融界消息 截至2025年8月19日收盘，明阳智能（601615）报收于12.4元，下跌0.88%，换手率1.6%， 成交量36.43万手，成交金额4.50亿元。 通过天眼查大数据分析，明阳智慧能源集团股份公司共对外投资了145家企业，参与招投标项目2428 次，知识产权方面有商标信息51条，专利信息1843条，此外企业还拥有行政许可126个。 明阳智能最新一期业绩显示，截至2025一季报，公司营业总收入77.04亿元、同比增长51.78%，归属净 利润3.02亿元，同比减少0.70%，扣非净利润2.87亿元，同比减少1.35%，流动比率1.274、速动比率 0.921、资产负债率68.70%。 来源：金融界 天眼查商业履历信息显示，明阳智慧能源集团股份公司，成立于2006年，位于中山市，是一家以从事电 气机械和器材制造业为主的企业。企业注册资本227149.6706万人民币，实缴资本39034.3827万人民币。 公司法定代表人为张传卫。 资金流向方面，今日主力资金净流出1529.72万元，占比成交额3.4%。其中，超大单净流出1653.94万 元、占成交额3.67%，大单净流入124.22万元、占成交额0 ...

Investment Rating - The industry is rated as "outperforming the market" with an expected relative increase of over 10% in the next six months [38]. Core Insights - The SW power equipment sector's overweight ratio continues to decline, with a total market value of 129.79 billion yuan in Q2 2025, down 11.62% quarter-on-quarter and 22.50% year-on-year [13][14]. - The sector's market value accounts for 9.91% of the total A-share market value held by public funds, ranking third among 31 Shenwan primary industries [14]. - The concentration of holdings in the top 5, 10, and 20 stocks has increased, with respective market values of 73.96 billion, 84.77 billion, and 100.40 billion yuan, indicating a recovery in overall concentration [18]. Summary by Sections Overall Industry - The overweight ratio for the SW power equipment sector has decreased, with a current ratio of 3.98%, down 0.85 percentage points from the previous quarter [13][14]. - The total market value held by public funds in the sector is 129.79 billion yuan, reflecting a significant decline [13]. Sub-sectors - The wind power equipment sector has shown significant improvement, with a total market value of 8.16 billion yuan, up 50.84% quarter-on-quarter, while other power equipment sectors have seen declines [22][19]. - The battery, photovoltaic equipment, and grid equipment sectors have experienced a decrease in market value, with respective values of 79.27 billion, 23.05 billion, and 12.47 billion yuan, down 4.83%, 26.00%, and 21.57% [19]. Stock Trends - The top ten stocks in the SW power equipment sector include Ningde Times, Sunshine Power, and Yiwei Lithium Energy, with mixed performance; some stocks like Mingyang Smart Energy and New Era Electric have seen significant increases [29][28]. - The top ten stocks that saw the most significant increases in holdings include Aisheng Technology and JinkoSolar, primarily in the wind and photovoltaic sectors [34][31]. Investment Recommendations - The report suggests focusing on lithium battery materials due to stable growth in new energy vehicle sales, which is expected to improve the supply-demand balance [36]. - It also recommends paying attention to leading stocks in the wind power equipment sector, supported by government initiatives for large-scale wind and solar projects [36].

Investment Rating - The report maintains a positive outlook on the wind power industry, highlighting strong demand and price recovery, recommending key companies such as Goldwind Technology, Yunda Co., Mingyang Smart Energy, and Sany Heavy Energy for investment [6]. Core Viewpoints - The market's concerns about the sustainability of the wind power industry's strong performance in 2025 have led to undervaluation of turbine manufacturers' stock prices, despite a 9% increase in the average bidding price for land-based wind turbines to 1552 RMB/kW in the first seven months of 2025 [2][13]. - Multiple forward-looking indicators suggest that domestic land wind demand in 2026 is likely to achieve year-on-year growth, contrary to market fears of a downturn due to the end of the "14th Five-Year Plan" rush [3][16]. - The price recovery of wind turbines is supported by a dual commitment from manufacturers and project owners, with manufacturers focusing on profitability rather than market share, and owners willing to pay a premium for high-reliability products [4][37]. Summary by Sections 1. Strong Performance of Wind Turbines - The average bidding price for land-based wind turbines has shown a consistent upward trend since Q4 2024, with a 9% increase compared to the entire year of 2024 [2][14]. 2. Demand Expectations - The report indicates that the wind power installation cycle in 2025 is different from previous cycles, with a projected installation of over 110 GW, supported by a significant increase in project approvals [3][30]. - The approved wind power projects reached 106 GW in the first seven months of 2025, marking a 37% year-on-year increase, which is a positive indicator for 2026 demand [3][30]. 3. Price Expectations - The report emphasizes that the price recovery of wind turbines is driven by both demand and a strategic shift among manufacturers towards profitability, supported by a self-regulatory agreement among major manufacturers [4][42]. - The willingness of project owners to accept price increases is attributed to the declining costs of wind projects due to larger turbine sizes and improved reliability [4][44]. 4. Profitability Improvement - The report forecasts that the manufacturing gross margin for wind turbines is expected to improve significantly in 2026, driven by economies of scale and a reduction in sales and management expenses [5][38]. - The anticipated increase in high-priced orders entering the delivery phase will further enhance profitability for turbine manufacturers [5][38]. 5. Long-term Growth from Exports and Offshore Wind - Despite a potential slowdown in domestic land wind installations, the report highlights that overseas markets and domestic offshore wind projects will support long-term growth for turbine manufacturers [6][54]. - The report notes that domestic turbine manufacturers have gained a competitive edge in technology and cost, with significant overseas orders expected to materialize in 2026-2027 [6][54].

Group 1 - The company held its 16th meeting of the 12th Board of Directors on August 15, 2025, to discuss and approve a related party transaction involving the sale of steel-concrete tower tubes [2][3][11] - The subsidiary, Liaoning Changhe Wind Power Equipment Co., Ltd., will sign a contract with Mingyang Smart Energy Group Co., Ltd. for the procurement of 17 sets of 7.5MW-233-160 model steel-concrete tower tubes, with a total contract value of 62.05 million yuan (including tax) [3][11][36] - The transaction is classified as a related party transaction as the purchaser's project is controlled by the company's chairman, Wang Haibo [11][12][20] Group 2 - The contract pricing is based on current market prices for similar products, ensuring fairness and compliance with market conditions [23][35] - The transaction is expected to generate over 50 million yuan in revenue for the company in the current fiscal year, positively impacting its financial status and operational results [36][38] - The independent directors unanimously approved the transaction, confirming it aligns with industry practices and does not harm the interests of the company or its shareholders [38]