晶科科技 601778 2025 年第五次临时股东会会议资料 晶科电力科技股份有限公司 2025 年第五次临时股东会 会议资料 二〇二五年十一月 1 / 11 | | | 晶科科技 601778 2025 年第五次临时股东会会议资料 会议须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，以及股 东在股东会期间依法行使权利，根据有关法律法规及《晶科电力科技股份有限公 司章程》（以下简称"《公司章程》"）、《晶科电力科技股份有限公司股东会议事 规则》的有关规定，特制定本须知。 一、股东会设会务组，由公司董事会秘书负责会议的程序安排和会务工作。 二、股东会以现场会议的形式召开，并采取现场、网络相结合的方式投票。 三、为保证股东会的严肃性和正常秩序，切实维护与会股东及股东代理人的 合法权益，除出席会议的股东及股东代理人、公司董事、高级管理人员、见证律 师及董事会邀请的人员外，公司有权依法拒绝其他人员进入会场。 四、股东参加本次会议现场会议依法享有发言权、质询权、表决权等权利， 同时也必须认真履行法定义务，不得侵犯其他股东的权益和扰乱会议秩序。 五、股东或其委托代理人有质询、意见或建议时，应举手示意，得 ...

Group 1: Macroeconomic Overview - In October, the issuance of policy financial tools is expected to marginally boost credit, although government bond issuance is projected to decline year-on-year due to a high base, leading to a decrease in new social financing [1][2] - The manufacturing sector in the US and Europe showed unexpected recovery in October, indicating a global manufacturing cycle still in recovery despite ongoing US government shutdowns [1][2] - Japan's economic recovery is supported by stable export growth and a resilient labor market, with the Nikkei 225 index reaching a historical high [2] Group 2: Electric Power Equipment and New Energy - The Q3 performance of the electric power equipment sector showed significant divergence, with non-UHV main networks outperforming other segments, driven by strong overseas demand and domestic construction needs [4] - Non-UHV main networks reported a 38.2% year-on-year increase in net profit, while distribution and meter segments faced declines of 23.6% and 28.4% respectively [4] - The outlook for the sector remains positive, with expectations of continued high capacity utilization and revenue growth from overseas markets [4] Group 3: Semiconductor Industry - Huahong Semiconductor reported Q3 revenue of $635.2 million, a year-on-year increase of 20.7%, with a gross margin of 13.5%, exceeding company guidance [7] - The company anticipates Q4 revenue between $650 million and $660 million, indicating a sequential growth of approximately 3.1% [7] - The strong performance is attributed to high capacity utilization and price increases, particularly in the analog and power management segments [7] Group 4: Aluminum Industry - China Hongqiao, a leading player in the electrolytic aluminum sector, is expected to benefit from rising aluminum prices and is implementing share buybacks and high dividends to enhance investor returns [8] - The supply-demand imbalance in the electrolytic aluminum market is projected to become more pronounced in 2025-2026 due to near-capacity domestic production and slow overseas capacity release [8] Group 5: Pharmaceutical Industry - Xiansheng Pharmaceutical is entering a phase of commercializing multiple innovative products, with significant growth potential in overseas markets [11] - The company has achieved approvals for several new indications for its innovative drugs, indicating a strong pipeline and potential for revenue growth [11] Group 6: Consumer Goods - Uni-President China reported a net profit of 2.01 billion yuan for the first three quarters of 2025, a year-on-year increase of 23.1%, with Q3 profit rising by 8.4% [12] - The company is focusing on enhancing its brand and optimizing its cost structure, which has led to improved profit margins [12] Group 7: Gaming Industry - Giant Network highlighted the strong performance of its new game "Supernatural" and the potential of AI applications in its gaming business during the recent investment summit [15] - The company is actively developing new products, which are expected to drive future growth [15] Group 8: Financial Services - CITIC Securities reported steady growth in its wealth management and investment business, with a strong project pipeline in its investment banking division [15] - The company maintains a buy rating due to its solid competitive position and positive business outlook [15]

Core Insights - The electricity sector experienced a rise of 0.69% on the previous trading day, with Huaguang Huaneng leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Stock Performance - Huaguang Huaneng (600475) saw a closing price of 17.01, with a significant increase of 10.03% and a trading volume of 405,400 shares, amounting to a transaction value of 666 million yuan [1] - Jinko Technology (601778) closed at 3.66, up 4.57%, with a trading volume of 1,641,100 shares and a transaction value of 590 million yuan [1] - Zhaoxin Co., Ltd. (002256) closed at 3.09, up 4.39%, with a trading volume of 1,360,600 shares and a transaction value of 415 million yuan [1] Capital Flow - The electricity sector experienced a net outflow of 325 million yuan from institutional investors, while retail investors saw a net inflow of 479 million yuan [2] - The main capital inflow was observed in Huaguang Huaneng, with a net inflow of 1.40 billion yuan, representing 21.98% of the total [3] - China Nuclear Power (601985) had a net inflow of 93.91 million yuan, accounting for 7.31% of the total [3]

Core Points - JinkoSolar (601778) announced on October 31 that it has completed the relevant business change registration procedures and the filing of its Articles of Association as of October 30, 2025 [1] - The company has obtained a new business license issued by the Market Supervision Administration of Shangrao City [1]

证券代码：601778 证券简称：晶科科技 公告编号：2025-121 晶科电力科技股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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。 重要提示： 晶科电力科技股份有限公司（以下简称"公司"）已于 2025 年 10 月 31 日发 布公司《2025 年第三季度报告》。为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 11 月 14 日（星期五） 13:00-14:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次业绩说明会以网络互动形式召开，公司将针对 2025 年第三季度经营成 果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围 内就投资者普遍关注的问题进行回答。 会议召开时间：2025 年 11 月 14 日（星期五）13:00-14:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https: ...

证券代码：601778 证券简称：晶科科技 公告编号：2025-120 晶科电力科技股份有限公司 关于公司完成工商变更登记的公告 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。 成立日期：2011 年 07 月 28 日 经营范围：许可项目：发电业务、输电业务、供（配）电业务，输电、供电、 受电电力设施的安装、维修和试验，建设工程设计，建设工程施工（依法须经批 准的项目，经相关部门批准后方可开展经营活动，具体经营项目以相关部门批准 类型：股份有限公司（中外合资，上市） 住所：江西省上饶市横峰县岑阳镇国道西路 63 号 法定代表人：李仙德 注册资本：357,097.3871 万元人民币 2025 年 10 月 30 日，公司已完成相关工商变更登记手续及《公司章程》的 备案，并取得上饶市市场监督管理局换发的新的《营业执照》。变更后的《营业 执照》具体信息如下： 统一社会信用代码：913611005787856680 名称：晶科电力科技股份有限公司 晶科电力科技股份有限公司（以下简称"公司"）分别于 2025 年 8 月 27 日、 ...

Core Viewpoint - Jinko Power Technology Co., Ltd. (Jinko Technology) demonstrates robust growth in its Q3 2025 report, highlighting the company's long-term value resilience with significant increases in revenue and net profit [1][2]. Financial Performance - In Q3, Jinko Technology achieved operating revenue of 998 million yuan and a net profit attributable to shareholders of 233 million yuan, marking a year-on-year increase of 76.49% [1]. - For the first three quarters, the net profit attributable to shareholders reached 356 million yuan, up 61.82% year-on-year, surpassing the total net profit for the previous year [1]. Cash Flow and Operational Efficiency - The company reported a net cash flow from operating activities of 3.273 billion yuan, a remarkable increase of 454.05% compared to the same period last year, indicating enhanced cash generation capabilities [2]. - As of the end of Q3, Jinko Technology's cash and cash equivalents amounted to 5.394 billion yuan, reflecting an increase of approximately 360 million yuan from the end of the previous year, showcasing improved operational efficiency [2]. Strategic Developments - Jinko Technology is actively expanding into new business areas such as integrated solar storage, electricity sales, virtual power plants, and microgrids, leveraging its advantages in power generation and customer base to enhance service offerings and revenue potential [2]. - The company is implementing a "rolling development" light asset operation strategy, with the Antequera solar project nearing completion and expected to commence commercial operations in Q4 2025 [2]. Energy Storage Business - The energy storage sector is identified as a core strategic focus for Jinko Technology in 2025, with significant progress made since entering the market in 2022, including the establishment of multiple storage application scenarios across various provinces [3]. - In 2023, Jinko Technology added 6 GWh of new energy storage capacity, with 3 GWh of projects either operational or under construction [3]. - The successful grid connection of the 100 MW/200 MWh energy storage project in Feidong marks a significant milestone, contributing to local grid services and supporting market-driven electricity consumption [3]. - The company plans to adopt a mixed commercial model for its energy storage business, aiming for rapid scaling while balancing ownership and transfer strategies, positioning energy storage as a new profit growth point [3].

Group 1: Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 3.122 billion yuan and a net profit attributable to shareholders of 356 million yuan, continuing a steady growth trend [1] - The net profit for the first three quarters increased by 61.82% year-on-year, surpassing the total net profit for the entire year of 2024 [1] - The net cash flow from operating activities significantly increased by 454.05% year-on-year, reaching 3.273 billion yuan, indicating improved profit quality and market competitiveness [1] Group 2: Cash Flow and Financial Stability - As of the end of the third quarter, the company had cash and cash equivalents of 5.394 billion yuan, providing a solid financial foundation for operational flexibility and strategic upgrades [1] - The company is actively exploring investment and merger opportunities, focusing on new financial models such as digital assets to inject liquidity into the industry [1] Group 3: Energy Storage Business Development - The domestic energy storage industry is experiencing rapid growth, with the company successfully connecting the 100MW/200MWh energy storage project in Feidong, marking it as the first large-scale grid-side storage project in Hefei [2] - Since entering the new energy storage business in 2022, the company has established multiple applications across various provinces, with a planned additional storage capacity of 6GWh in 2025 [2] - The company plans to adopt a mixed commercial model for its energy storage business, which is expected to become a new profit growth point [2] Group 4: Strategic Initiatives - The company is actively advancing in areas such as solar-storage integration, overseas projects, and market-oriented electricity trading, aiming to build a competitive moat for future development [2] - By engaging in emerging businesses like solar-storage integration, power sales, virtual power plants, and microgrids, the company aims to provide more services to customers while generating greater revenue [2]

Group 1 - JinkoSolar (601778.SH) reported its Q3 2025 results, with 15 institutional investors holding a total of 1.339 billion shares, representing 37.49% of the company's total equity as of October 30, 2025 [1] - The top ten institutional investors collectively hold 36.74% of the shares, with a decrease of 1.21 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, one fund, the Photovoltaic ETF, reduced its holdings slightly compared to the previous quarter [2] - Eight new public funds were disclosed this period, including several from GF Fund Management, while 76 public funds were not disclosed this quarter, including major ETFs [2] - Foreign investment sentiment showed an increase in holdings from one foreign fund, Hong Kong Central Clearing Limited, with a rise of 0.17% [2]

Core Viewpoint - JinkoSolar (601778.SH) reported a decline in total operating revenue for the first three quarters of 2025, while net profit attributable to shareholders increased significantly [1] Financial Performance - Total operating revenue for the first three quarters reached 3.122 billion yuan, a year-on-year decrease of 19.73% [1] - Net profit attributable to shareholders was 356 million yuan, reflecting a year-on-year increase of 61.82% [1] - Basic earnings per share stood at 0.1 yuan [1]