证券代码：601778 证券简称：晶科科技 公告编号：2026-007 晶科电力科技股份有限公司 关于提供担保的进展公告 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 | 本次担保金额 | | 实际为其提供的担 | 是否在前期预 | 本次担保是否 | | --- | --- | --- | --- | --- | --- | | | | 保余额（含本次） | | 计额度内 | 有反担保 | | 公司全资下属公司 | 5,700 万元 | 91,956.75 万元 | 是 | | 否 | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0.00 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保余额（万元） | 1,923,022.19 | | 对外担保余额占上市公司最近一 期经审计净资产的比例（%） | 121.14 | | 特别风险提示 | 对外担保总额（含本次）超过最近一期经审 计净资产 100% | 一、年度担保计划进展情况 注： ...

关于部分日常关联交易事项的进展公告 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。 为推进轻资产发展战略，实现资源的优化配置，晶科电力科技股份有限公司 （以下简称"公司"或"本公司"）于近日对外转让了全资下属公司横峰县光盛电 力有限公司（以下简称"横峰光盛"）100%股权。玉环市晶财新能源有限公司、 上饶市盛芦电力有限公司、肥东县晶天光伏发电有限公司系横峰光盛的全资子公 司，公司本次对外转让横峰光盛 100%股权后，上述公司不再纳入本公司合并报 表范围，因此涉及公司部分日常关联交易事项的变化。相关具体情况如下： 一、日常关联交易基本情况 经公司总经理、第三届董事会第十三次会议和 2024 年第三次临时股东大会 审议批准，公司下属公司在关联方晶科能源股份有限公司下属公司（以下统称"晶 科能源"）厂区屋顶投资建设了部分工商业屋顶分布式光伏电站，电站所发电量 优先出售给关联方晶科能源使用，涉及的日常关联交易内容如下： | 公司全资子公司 （项目公司） | 关联方 | 关联交易 内容 | 年均关联交 易预计金额 （万元） | 决策机构 ...

来源：晶科电力科技股份有限公司 每日｜荐读 峰会： 「2026中国产业资本峰会暨宁波产业生态大会」盛大启幕 荐读： 告别"DPI焦虑"，一家GP的"多赢"解题思路 荐读： 2025年IPO退出盘点：哪些GP赚钱了？ 热文： 投资人"忙疯了" 公告显示，合伙企业总认缴出资额为人民币2亿元，晶科电力作为有限合伙人以自有资金认缴出资 人民币1.94亿元，占基金认缴出资总额的97%。上海云泽锦沃私募基金管理有限公司出资600万 元，占基金认缴出资总额的3%。其中，云泽锦沃担任合伙企业的执行事务合伙人及基金管理人， 向合伙企业提供投资管理、合伙事务管理及其他服务，对合伙企业债务承担无限连带责任。 合伙企业拟通过股权投资的方式，主要投资于新一代信息技术领域的优质未上市股权项目，以及其 他经投资决策委员会（以下简称"投委会"）批准的优质项目。基金的存续期限共6年，自合伙企业 成立日起计算，前3年为投资期，后3年为退出期。 2026年3月24日，晶科电力科技股份有限公司发布公告，称公司与上海云泽锦沃私募基金管理有 限公司 （以下简称"云泽锦沃"）签署了《嘉兴泽科星槎创业投资合伙企业（有限合伙）合伙协 议》 ，双方共同出资设立 ...

关于参与设立创业投资基金的公告 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： 一、合作情况概述 证券代码：601778 证券简称：晶科科技 公告编号：2026-006 晶科电力科技股份有限公司 （一）合作的基本概况 为借助专业投资机构的项目资源和投资能力，探索布局战略性新兴产业，拓 宽未来发展空间，公司近日与上海云泽锦沃私募基金管理有限公司（以下简称"云 泽锦沃"）签署了《嘉兴泽科星槎创业投资合伙企业（有限合伙）合伙协议》（以 1 / 7 参与投资私募基金的基本情况：晶科电力科技股份有限公司（以下简称"公 司"）作为有限合伙人，以自有资金人民币 1.94 亿元参与设立嘉兴泽科星槎 创业投资合伙企业（有限合伙）（以下简称"基金"或"合伙企业"），占基金认 缴出资总额的 97%。 本次交易不构成关联交易，亦未构成重大资产重组。 本次投资未达到公司董事会和股东会审议标准。 风险提示：1、截至本公告披露日，合伙企业已完成工商注册登记，还需办 理中国证券投资基金业协会备案手续，相关实施进展及结果存在不确定性； 2、基金 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The report highlights that the demand for power equipment is expected to remain high due to the continuous deepening of electricity reforms [3] - The green electricity consumption assessment scope has been expanded, shaping a new ecosystem in the industry [11] - The supply of green certificates is stabilizing, and prices are expected to return to reflect the environmental value of green electricity [19] - New energy consumption new business models are anticipated to create a second growth curve for operators [5] Summary by Sections Renewable Energy Consumption Assessment Expansion - In July 2025, the National Development and Reform Commission issued a notice expanding the renewable energy consumption responsibility assessment to include industries such as steel, polysilicon, cement, and newly built data centers [11] - By 2026, the green electricity consumption ratio for these industries is expected to be 80% [11][12] Supply Stabilization and Green Certificate Pricing - The green certificate supply has stabilized following a supply shock in late 2024, with a total of 47.34 billion certificates issued in 2024, of which 31.58 billion were tradable [20] - The trading volume of green certificates is expected to improve, with a projected price of 5 yuan per certificate leading to an increase in operators' environmental value earnings by 1.0 yuan per megawatt-hour for every 20% increase in coverage [23] Investment Recommendations - The report suggests focusing on high-quality assets and stable profitability in new energy generation operators, with recommended stocks including Longyuan Power (H), Xintian Green Energy (H), and Datang New Energy (H) [26] - The anticipated growth in green certificate market activity is expected to benefit these operators significantly [5][26] Data Center Energy Consumption Growth - From 2019 to 2024, China's data center annual electricity consumption increased from 82.4 billion kilowatt-hours to 166 billion kilowatt-hours, with an average annual growth rate of 15.0% [15] - By 2030, the annual electricity consumption of data centers is projected to reach between 390 billion and 820 billion kilowatt-hours [15] Market Dynamics - The report indicates that the green certificate market is expected to gain vitality as major energy-consuming sectors face green electricity consumption assessments [5][23] - The anticipated return of green certificate prices to reflect their environmental value is expected to ensure reasonable profit levels for operators [19][23]

证券代码：601778 证券简称：晶科科技 公告编号：2026-005 晶科电力科技股份有限公司 股票交易异常波动公告 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： 晶科电力科技股份有限公司（以下简称"本公司"、"公司"）股票价格于 2026 年 3 月 9 日、3 月 10 日、3 月 11 日连续三个交易日内日收盘价格涨幅偏离 值累计达 20%。根据《上海证券交易所交易规则》的有关规定，属于股票交易异 常波动情形。 经公司自查，并向控股股东和实际控制人函证核实，截至本公告披露日， 公司生产经营情况正常，内外部经营环境未发生重大变化，不存在涉及本公司应 披露而未披露的重大信息。 敬请广大投资者注意二级市场交易风险，理性决策，审慎投资。 一、股票交易（异常）波动的具体情况 公司股票交易连续三个交易日（2026 年 3 月 9 日、3 月 10 日、3 月 11 日） 内日收盘价格涨幅偏离值累计达 20%，根据《上海证券交易所交易规则》的有关 规定，属于股票交易异常波动情形。 二、公司关注并核实的相关情况 针对 ...

Summary of Conference Call on Jinko Technology and Industry Trends Company Overview - **Company**: Jinko Technology - **Date**: March 8, 2026 Key Points and Arguments Industry Insights - **Electricity Costs**: Power costs have become a core expenditure for computing centers, with smart computing centers accounting for 50%-70% of costs, and supercomputing centers reaching 80%-90% [2][5][6] - **PUE Management**: Effective management of Power Usage Effectiveness (PUE) can significantly reduce costs, with potential reductions from 1.6-1.8 to 1.2-1.4, leading to energy cost savings of over 9.7% [2][8] - **Regional Electricity Price Trends**: The construction of data centers is driving regional electricity prices up, with first-tier cities experiencing electricity growth rates of 25%-30%, significantly exceeding the grid's expansion rate of 10% [2][3][11] - **Green Electricity Direct Connection**: In regions like Ulanqab, direct connection to green electricity can reduce overall energy costs by approximately 37.8%, with electricity prices potentially dropping from 0.45 yuan to below 0.28 yuan [2][9] Market Dynamics - **Electricity Price Projections**: The long-term outlook suggests that the national average electricity price may rise to the range of 0.7-0.8 yuan, with high-load computing node prices increasing significantly more than stable nodes [3][27] - **Data Center Energy Consumption**: By 2024, data center electricity consumption is projected to exceed 160 billion kWh, with expectations to surpass 700 billion kWh by 2030, representing a growth rate of approximately 16.1% [7] Cost Management Strategies - **Energy Efficiency Management**: The implementation of energy efficiency management can lead to substantial cost reductions, with a verified case showing a reduction in electricity costs by approximately 10 million yuan annually through effective PUE management [8][19] - **Integration of AI in Energy Management**: AI companies play a crucial role in providing integrated algorithms and platforms for user-side scheduling and trading, optimizing data center loads and energy efficiency [4][19] Regulatory and Market Influences - **Regulatory Impact on Pricing**: Various regions have imposed higher green electricity consumption requirements, directly affecting electricity costs through PUE assessments, with penalties for exceeding PUE thresholds [7][12] - **Supply-Demand Imbalance**: The rapid growth of data center loads can lead to regional electricity price increases due to supply-demand imbalances, particularly in areas where data center electricity demand exceeds 5%-10% of total capacity [10][11] Future Projections and Strategies - **Green Energy Integration**: Jinko Technology is focusing on energy management services, integrating wind and solar energy to create smart microgrids, and is actively pursuing green electricity direct connection projects [20][21] - **Distributed Energy Resources**: The company has a significant portfolio of distributed energy resources, including approximately 5 GW of solar power, and is exploring partnerships to enhance energy management solutions for data centers [22] Conclusion - The conference highlighted the critical role of electricity costs in the data center industry, the potential for significant cost savings through effective energy management, and the impact of regulatory frameworks on pricing dynamics. Jinko Technology is positioning itself strategically within this evolving landscape, focusing on green energy solutions and innovative management practices to drive efficiency and sustainability in the sector.

Core Insights - The report from Huatai Securities quantifies the impact of AI Token deployment on China's power industry, indicating that the transition to the reasoning era in AI could lead to a 10% elasticity in electricity demand, boosting green certificates and capacity prices [1][2]. Group 1: AI Industry Transition - The AI industry has shifted from a training era to a reasoning era, with a narrowing gap in computing power between domestic and overseas players. The Agent model is expected to drive exponential growth in Token consumption [1][2][9]. - If the global daily Token call volume reaches trillions, combined with a 30%-50% market share of domestic large models and 70%-90% local computing power deployment, Token deployment could increase China's electricity and power demand by 8% and 18%, respectively [1][2]. Group 2: Electricity Cost Dynamics - The importance of electricity costs in AI computing competition is increasing, with the share of electricity in unit Token costs rising significantly. In high-performance training versions of AIDC, electricity accounts for only 5%, but this doubles to 10% under reasoning models, and can reach 20%-30% with self-developed reasoning-grade chips [1][7][9]. - The report highlights that while the current electricity cost is only 10% of Token costs, this share is expected to continue rising as chip efficiency improves [9][18]. Group 3: Price Elasticity and Market Dynamics - The demand for Tokens is expected to enhance China's green electricity demand by 4%-33% from 2026 to 2030, benefiting undervalued green certificate prices. The low utilization rate of reasoning models is likely to increase capacity prices by 50-300 yuan per kilowatt during the same period, while the impact on electricity prices will be relatively delayed [2][8]. - The report contrasts with market views by emphasizing that the AI race has entered the reasoning era, and the elasticity of Token demand on green certificates and capacity prices is significantly higher than on electricity prices [2][9]. Group 4: Investment Recommendations - The report recommends focusing on undervalued stocks in the green and thermal power sectors, particularly those benefiting from renewable energy demand, such as Longyuan H, Green Development, and China Power [10]. - Companies like Jinko Power, Jingneng Clean Energy, and others are highlighted for their potential to benefit from capacity price elasticity [10]. Group 5: Future Outlook - The report suggests that the power supply in China will not become a bottleneck for computing power expansion, given the country's ample electricity supply. The industrial electricity price gap between China and the U.S. is expected to further highlight China's advantages in power supply [1][7][21]. - The transition to the reasoning era is anticipated to attract more infrastructure investments, as the sensitivity of electricity costs in AIDC is expected to double, making it a more critical factor in the competitive landscape [20][21].

关于提供担保的进展公告 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： 证券代码：601778 证券简称：晶科科技 公告编号：2026-004 晶科电力科技股份有限公司 （1）公司全资下属公司上海晶科光伏电力有限公司（以下简称"上海晶科"） 拟向中国光大银行股份有限公司上海分行申请本金为人民币 2 亿元的综合授信 担保对象及基本情况 | 被担保人名称 | 本次担保金额 | 实际为其提供的担 | | 是否在前期预 | 本次担保是否 | | --- | --- | --- | --- | --- | --- | | | | 保余额（含本次） | | 计额度内 | 有反担保 | | 公司全资下属公司 | 20,635.31 万元 | 85,870.64 | 万元 | 是 | 否 | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0.00 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保余额（万元） | 1,866,524.27 | | 对外担保余额占上市公司最近一 期经审计净资 ...

证券代码：601778 证券简称：晶科科技 公告编号：2026-003 晶科电力科技股份有限公司 关于参与设立股权投资基金进展暨完成备案的 为进一步推进储能业务的战略投资布局，加强与产业链、生态圈各方的战略 合作与协同，晶科电力科技股份有限公司（以下简称"公司"）与泉州兴水水务产 业投资合伙企业（有限合伙）、首正创信（上海）企业管理有限公司、上海上汽 创远创业投资合伙企业（有限合伙）、深圳市瑞能实业股份有限公司、自然人邓 天龙以及泉州风泉私募基金管理有限公司共同出资设立泉州风泉晶科绿能壹号 股权投资合伙企业（有限合伙）（以下简称"基金"），基金拟通过持股平台投向 工商侧储能项目。基金认缴出资额总额为人民币 1 亿元，首次出资额不低于各合 伙人对于合伙企业的认缴出资总额的 20%，后续出资根据投资项目实际进展确定。 公司作为有限合伙人之一，以自有资金认缴出资人民币 1,700 万元，占基金认缴 出资总额的 17%，首次出资额为人民币 340 万元。本次对外投资事项在总经理决 策权限内，无需提交公司董事会和股东会审议。具体内容详见公司于 2025 年 12 1 / 3 公告 本公司董事会及全体董事保证本公告内容不 ...