证券之星消息，1月21日电力板块较上一交易日下跌1.03%，拓日新能领跌。当日上证指数报收于 4116.94，上涨0.08%。深证成指报收于14255.12，上涨0.7%。电力板块个股涨跌见下表： | 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600868 梅雁吉祥 | | 3.12 Z | 22.43% | -1.37 Z | -9.85% | -1.75 Z | -12.59% | | 601778 | 晶科科技 | 1.59 Z | 14.31% | -6529.61万 | -5.86% | -9411.27万 | -8.45% | | 002617 | 露笑科技 | 8677.50万 | 2.53% | 217.02万 | 4 0.06% | -8894.52万 | -2.59% | | 601619 | 嘉泽新能 | 8677.07万 | 10.01% | -2606.59万 | -3.01% | - ...

Core Viewpoint - Jinko Technology (601778.SH) is currently not directly investing in AIDC projects but is focusing on green energy microgrid solutions related to AIDC, collaborating with Tencent and Alibaba Cloud on data center projects [1] Financial Health - The company has a healthy cash flow and ample cash reserves, indicating strong financial stability [1] Strategic Direction - Jinko Technology plans to actively respond to industry changes, optimize resource allocation, and create new competitive advantages [1] - The company is looking for investment and acquisition opportunities in emerging business areas, particularly in the upstream and downstream of the new energy power industry and AIDC [1] - The goal is to expand into new development areas to enhance profitability and overall valuation [1]

Core Viewpoint - JinkoSolar's stock price has shown fluctuations, with a recent decline of 2.19%, while the company has experienced an overall increase of 8.06% in stock price since the beginning of the year [1] Group 1: Financial Performance - For the period from January to September 2025, JinkoSolar reported a revenue of 3.122 billion yuan, representing a year-on-year decrease of 19.73% [2] - The net profit attributable to shareholders for the same period was 356 million yuan, showing a significant year-on-year growth of 61.82% [2] - Cumulatively, JinkoSolar has distributed 319 million yuan in dividends since its A-share listing, with 161 million yuan distributed over the past three years [3] Group 2: Shareholder Information - As of September 30, 2025, the number of shareholders for JinkoSolar reached 130,100, an increase of 9.22% compared to the previous period [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 39.258 million shares, an increase of 6.1784 million shares from the previous period [3] - New shareholders include Guangfa Balanced Preferred Mixed A and Guangfa Value Advantage Mixed, holding 32.5831 million and 24.7586 million shares respectively [3] Group 3: Business Overview - JinkoSolar, established on July 28, 2011, and listed on May 19, 2020, is primarily engaged in the development, operation, and transfer of photovoltaic power plants, as well as EPC services [1] - The company's revenue composition includes 75.57% from photovoltaic power generation, 18.34% from household photovoltaic power plant development, and smaller percentages from other services [1] - JinkoSolar operates within the public utility sector, specifically in the power and photovoltaic generation industry [1]

Market Overview - The electricity sector increased by 0.77% compared to the previous trading day, with Jin Fang Energy leading the gains [1] - The Shanghai Composite Index closed at 4083.67, up by 1.5%, while the Shenzhen Component Index closed at 14022.55, up by 1.4% [1] Top Gainers in the Electricity Sector - Jin Fang Energy (001210) closed at 20.72, rising by 9.98% with a trading volume of 89,400 shares and a transaction value of 181 million yuan [1] - Zhao Xin Co., Ltd. (002256) closed at 3.78, up by 7.69% with a trading volume of 2.4626 million shares [1] - Jinko Technology (601778) closed at 4.13, increasing by 6.44% with a trading volume of 3.0085 million shares and a transaction value of 1.229 billion yuan [1] Other Notable Performers - Bai Tong Energy (001376) closed at 17.95, up by 5.28% with a trading volume of 273,400 shares [1] - Jiaze New Energy (619109) closed at 4.87, increasing by 5.18% with a trading volume of 1.4617 million shares [1] - Shanghai Electric (600021) closed at 20.79, up by 3.48% with a trading volume of 1.165 million shares and a transaction value of 2.409 billion yuan [1] Market Capital Flow - The electricity sector saw a net inflow of 270 million yuan from institutional investors, while retail investors contributed a net inflow of 155 million yuan [2] - Speculative funds experienced a net outflow of 425 million yuan [2] Individual Stock Capital Flow - Zhao Xin Co., Ltd. (002256) had a net inflow of 15.2 million yuan from institutional investors, but a net outflow of 104 million yuan from retail investors [3] - Shanghai Electric (600021) experienced a net inflow of 93.44 million yuan from institutional investors, with a net outflow of 70.65 million yuan from retail investors [3] - Jinko Technology (601778) had a net inflow of 92.57 million yuan from institutional investors, while retail investors saw a net outflow of 53.54 million yuan [3]

| 证券代码：601778 | 证券简称：晶科科技 | 公告编号：2026-001 | | --- | --- | --- | | 转债代码：113048 | 转债简称：晶科转债 | | 关于可转债转股结果暨股份变动公告 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: 一、可转债发行上市概况 （一）可转债发行情况 经中国证券监督管理委员会《关于核准晶科电力科技股份有限公司公开发行 可转换公司债券的批复》（证监许可〔2021〕931号）核准，晶科电力科技股份 有限公司（以下简称"公司"或"本公司"）于2021年4月23日公开发行了3,000万张 可转换公司债券（以下简称"晶科转债"或"可转债"），每张面值人民币100元， 发行总额为人民币30亿元，期限6年。票面利率为：第一年0.30%、第二年0.50%、 第三年1.00%、第四年1.50%、第五年1.80%、第六年2.00%。 （二）可转债上市情况 经上海证券交易所自律监管决定书〔2021〕209号文同意，公司本次发行的 30亿元可转换公司债券于2021年5月3 ...

Core Viewpoint - The article emphasizes the strategic plans and aspirations of various companies as they embark on the "15th Five-Year Plan" period, highlighting their commitment to innovation, technology, and global competitiveness. Group 1: BYD - BYD aims to maintain significant R&D and financial investment to solidify its position in electrification and promote smart technology, leveraging global resources for innovation [4] - The company has achieved a tenfold increase in annual sales during the "14th Five-Year Plan" and seeks to capitalize on the global expansion of Chinese brands [4] Group 2: Oriental Fortune - Oriental Fortune expresses confidence in the resilience of the Chinese economy and emphasizes the importance of financial technology in connecting wealth management with real economy financing [6] - The company aims to serve diverse stakeholders and enhance its role in the financial transformation landscape [6] Group 3: Moore Threads - Moore Threads focuses on accelerating the application of domestic GPUs across various industries, contributing to the digital transformation [8] - The company has established a comprehensive technology stack and aims to maintain high R&D investment to strengthen its competitive edge [8] Group 4: Muyuan Foods - Muyuan Foods is committed to producing safe and healthy pork products, responding to consumer demand while advancing the pig farming industry towards high-quality development [10] - The company plans to leverage technology to address industry challenges and enhance overall quality [10] Group 5: Zhongwei Company - Zhongwei Company aims to achieve 50% to 60% market coverage in high-end semiconductor equipment through organic growth and expansion over the next five to ten years [12] - The company emphasizes collaboration within the industry to enhance global competitiveness [12] Group 6: AVIC Shenyang Aircraft - AVIC Shenyang Aircraft is focused on achieving significant milestones in the "15th Five-Year Plan" by enhancing core functions and competitiveness [14] - The company aims to contribute to the construction of a strong aviation nation through strategic initiatives [14] Group 7: Huayou Cobalt - Huayou Cobalt plans to align its strategy with national planning during the "15th Five-Year Plan," focusing on creating customer value and leading industry development [16] - The company aims to become a leading technology enterprise in energy materials [16] Group 8: Aier Eye Hospital - Aier Eye Hospital integrates its development with national strategies, focusing on innovation in eye health services and technology [18] - The company aims to enhance its service network and collaborate with partners to improve public health outcomes [18] Group 9: Tinci Materials - Tinci Materials is committed to sustainable development through innovation in lithium-ion battery materials and specialty chemicals [21] - The company anticipates a new growth cycle in the lithium and energy storage industries over the next five years [21] Group 10: JinkoSolar - JinkoSolar emphasizes technology innovation as a core driver for its development, focusing on high-efficiency solar cell technologies [23] - The company aims to integrate advanced technologies with traditional manufacturing to foster new productive capabilities [23] Group 11: Jishi Media - Jishi Media aims to integrate cultural and technological advancements, focusing on becoming a leading cultural technology enterprise [25] - The company plans to leverage AI and digital transformation to enhance its service offerings [25] Group 12: China National Machinery Industry Corporation - China National Machinery Industry Corporation is focused on deepening its role in China's modernization efforts while enhancing its international competitiveness [27] - The company aims to foster new productive capabilities in emerging sectors such as green engineering and digital infrastructure [27]

Core Viewpoint - The article emphasizes the significant responsibilities and unprecedented opportunities faced by the solar energy industry, particularly highlighting the commitment of JinkoSolar to technological innovation and sustainable development [2] Group 1: Technological Innovation - Technological innovation is identified as the core driving force for the development of JinkoSolar, which has accumulated substantial technical and industrialization capabilities over the past two decades [2] - The introduction of TOPCon technology has led to record-high photovoltaic cell conversion efficiencies, enhancing the economic viability of both ground-mounted and distributed solar power applications [2] - JinkoSolar is focusing on accelerating the implementation of next-generation technologies, including perovskite tandem cells [2] Group 2: New Productive Forces - The company aims to cultivate new productive forces by integrating advanced technologies such as smart manufacturing, artificial intelligence, and new materials with traditional manufacturing processes [2] - JinkoSolar is committed to building a comprehensive innovation capability that spans from green energy to future concepts like "moon factories" [2] Group 3: Future Vision - The year 2026 marks the beginning of the "14th Five-Year Plan" and the 20th anniversary of JinkoSolar, which will continue to uphold its mission of transforming the energy structure and taking on future responsibilities [2] - The company plans to strengthen its foundation for development through robust technological innovation and broaden its industrial vision to foster new productive forces [2]

Core Viewpoint - The underlying assets of new energy REITs are diversifying from solely "wind and solar power stations" to include hydroelectric power, as demonstrated by the recent expansion of the China Aviation Jingneng Photovoltaic REITs, which raised 2.92215 billion yuan and added two hydroelectric power stations to its portfolio [1][2]. Group 1: Expansion Details - The recent fundraising for China Aviation Jingneng Photovoltaic REITs raised 2.92215 billion yuan at a unit price of 9.712 yuan, expanding its assets to include two hydroelectric power stations [1]. - The internal rate of return (IRR) for the fund is expected to increase from 1.29% to 3.94% after the expansion, primarily due to the stable income generated from hydroelectric assets [1]. Group 2: Market Context - The expansion is a response to the high sensitivity of new energy power stations to policy changes, particularly regarding subsidies and electricity pricing, which can significantly impact asset yield and valuation [2]. - Following the introduction of market-oriented pricing for new energy power generation, some existing power stations have experienced a decline in revenue, highlighting the risks associated with policy changes [3]. Group 3: Asset Characteristics - The newly included hydroelectric power stations, located in Yunnan Province, have a combined installed capacity of 483 MW and a design lifespan of 40 years, with 26 years remaining [4]. - To mitigate future price volatility, the projected electricity generation assessments for the hydroelectric assets include a 3% allowance for water wastage, despite no wastage occurring since 2021 [4]. Group 4: Investment Landscape - The expansion attracted eight strategic investors, including trust funds, insurance companies, and asset management firms, indicating a growing interest from institutional investors in low-risk, yield-generating products like new energy REITs [5]. - The internal rate of return for new energy REITs typically ranges from 5% to 10%, which is higher than the current five-year loan market quotation rate of 3.50% [5]. Group 5: Development Trends - Many private photovoltaic power station developers are adopting a "build-hold-sell" model, selling assets to state-owned enterprises to recycle funds for new projects [6]. - Companies are encouraged to select assets with clear ownership and stable cash flows to expedite the approval process for public REITs, which generally have a longer issuance cycle [6].

Core Viewpoint - Jinko Technology's stock price has declined, closing at 3.68 yuan, a drop of 2.65%, indicating the company is currently in a state of stock price decline since its IPO [1] Fundraising Activities - Jinko Technology raised a total of 2.598 billion yuan through its initial public offering (IPO) in May 2020, with a net amount of 2.417 billion yuan after deducting expenses, which was 83.243 million yuan less than planned [1] - The company issued 30 million convertible bonds in April 2021, raising a total of 3 billion yuan, with a net amount of approximately 2.972 billion yuan after expenses [2] - In 2022, Jinko Technology conducted a non-public offering of 676.5 million shares at a price of 4.43 yuan per share, raising a net amount of approximately 2.982 billion yuan [3] - The total amount raised from these three fundraising activities is approximately 8.595 billion yuan [4]

证券代码：601778 证券简称：晶科科技 公告编号：2025-140 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。 担保对象及基本情况 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 公司对外担保总额（万元） | 1,916,362.71 | | 对外担保总额占上市公司最近一期 | 120.72 | | 经审计净资产的比例（%） | | 1 / 15 | | 1、对外担保总额超过最近一期经审计净资 | | --- | --- | | 特别风险提示 | 产 100% | | | 2、对资产负债率超过 70%的单位提供担保 | 一、年度担保计划进展情况 （一）进展情况概述 1、为满足生产经营活动正常开展需要，晶科电力科技股份有限公司（以下 简称"公司"或"晶科科技"）或其全资子公司为被担保人向金融机构申请融资提供 担保，具体情况如下： （1）公司及全资子公司晶科电力有限公司（以下简称"晶科电力" ...