Group 1 - The core viewpoint of the article highlights the performance and outlook of the Bosera New Energy Theme Mixed A Fund, which reported a profit of 1.9557 million yuan in the first half of 2025, with a net value growth rate of 2.49% [2][3] - As of September 3, 2025, the fund's unit net value was 0.837 yuan, and its scale reached 70.6037 million yuan [2][30] - The fund manager expresses optimism for the second half of 2025, particularly favoring growth assets in the context of liquidity easing, with a focus on "pan-AI" assets and the electric power electronics sector transitioning into AI [3] Group 2 - The fund's recent performance metrics indicate a three-month net value growth rate of 22.73%, a six-month growth rate of 14.50%, and a one-year growth rate of 40.59%, positioning it favorably among comparable funds [6] - The fund's weighted average price-to-earnings ratio (TTM) is approximately 20.64 times, significantly lower than the industry average of 36.17 times, indicating a potentially undervalued position [11] - The weighted revenue growth rate for the fund's holdings is 0.2%, and the weighted net profit growth rate is 0.3% for the first half of 2025, reflecting modest growth [19] Group 3 - The fund's three-year Sharpe ratio stands at -0.4169, ranking it 91 out of 120 comparable funds, indicating a relatively lower risk-adjusted return [24] - The fund's maximum drawdown over the past three years is 50.9%, with the largest single-quarter drawdown occurring in Q2 2022 at 22.51% [26] - As of June 30, 2025, the fund had a total of 5,216 holders, with individual investors holding 100% of the shares, and the fund's turnover rate for the last six months was approximately 530.32% [34][37]

Core Viewpoint - Heweih Electric announced that as of August 31, 2025, the company has not conducted any share buybacks [2] Company Summary - Heweih Electric released an announcement on the evening of September 1, stating the status of its share buyback program [2]

证券代码：603063 证券简称：禾望电气 公告编号：2025-079 深圳市禾望电气股份有限公司 关于以集中竞价交易方式回购公司股份进展的公告 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： 回购方案首次披露日 2025/4/12，由公司董事长韩玉先生提议 回购方案实施期限 2025 年 4 月 12 日~2026 年 4 月 11 日 预计回购金额 1,000万元~2,000万元 □减少注册资本 √用于员工持股计划或股权激励 回购用途 □用于转换公司可转债 实际回购价格区间 0元/股~0元/股 一、 回购股份的基本情况 意公司使用自有资金以集中竞价交易方式回购公司股份，回购资金总额不低于人 民币 1,000 万元（含），不超过人民币 2,000 万元（含），回购价格不超过 46.31 元/ 股，回购期限自董事会审议通过本次回购方案之日起不超过 12 个月。具体内容详 见公司于 2025 年 4 月 12 日在上海证券交易所网站（www.sse.com.cn）披露的《深 圳市禾望电气股份有限公司关于以集中竞价 ...

证券代码：603063 证券简称：禾望电气 公告编号：2025-079 深圳市禾望电气股份有限公司 关于以集中竞价交易方式回购公司股份进展的公告 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。 | 回购方案首次披露日 | 2025/4/12，由公司董事长韩玉先生提议 | | | | | --- | --- | --- | --- | --- | | 回购方案实施期限 | 年 月 月 日 2025 4 4 11 | 12 | 日~2026 | 年 | | 预计回购金额 | 1,000万元~2,000万元 | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | | | | □用于转换公司可转债 □为维护公司价值及股东权益 | | | | | 累计已回购股数 | 0万股 | | | | | 累计已回购股数占总股本比例 | 0% | | | | | 累计已回购金额 | 0万元 | | | | | 实际回购价格区间 | 0元/股~0元/股 | | | | 重要内容提示： 一、 回购股份的基本情况 20 ...

Market Performance - On August 28, the wind power equipment sector rose by 1.58%, with Electric Wind Power leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Stock Performance - Electric Wind Power (688660) closed at 25.56, up 14.46%, with a trading volume of 943,800 shares and a transaction value of 2.304 billion [1] - Other notable performers included Zhonghuan Hailu (301040) at 39.60, up 12.66%, and He Wang Electric (603063) at 37.78, up 6.51% [1] - Conversely, Mingyang Smart Energy (601615) fell by 4.17% to 12.18, with a trading volume of 944,800 shares and a transaction value of 1.148 billion [2] Capital Flow - The wind power equipment sector experienced a net outflow of 429 million from institutional investors, while retail investors saw a net inflow of 400 million [2] - The table of capital flow indicates that He Wang Electric had a net inflow of 1.956 million from institutional investors, while Electric Wind Power had a net outflow of 2.302 million [3] Individual Stock Analysis - He Wang Electric (603063) had a net outflow of 1.956 million from institutional investors, with a retail net inflow of 1.255 million [3] - Electric Wind Power (688660) saw a net outflow of 2.302 million from institutional investors, with a retail net inflow of 203.85 million [3] - Overall, the capital flow data suggests varying levels of investor interest across different stocks within the wind power equipment sector [3]

四川亚联氢能科技股份有限公司 协氢(上海)新能源科技有限公司 深圳市禾望电气股份有限公司 降基氢能科技有限公司 上海翌晶能源技术有限公司 科威尔技术股份有限公司 大连宇科创新科技有限公司 江苏双良氢能源科技有限公司 惠州亿纬氢能有限公司 魔方氢能源科技(江苏)有限公司 宁波中科氢易膜科技有限公司 必维国际检验集团 【2025 绿氢市场领航奖】 中船(邯郸)派瑞氢能科技有限公司 山东赛克赛斯氢能源有限公司 三一氢能有限公司 江苏氢导智能装备有限公司 阳光氢能科技有限公司 中集氢能科技有限公司 湖北英特利电气有限公司 保时来新材料科技（苏州）有限公司 【2025 绿氢潜力新星奖】 无锡天荣新能源科技有限公司 苏州市志青博材科技有限公司 山海氢（下海）新能源材轻草限公司 深圳通微新能源科技有限公司 智优普科技有限公司 "宁波膜智信息科技有限公司"为势银（TrendBank）唯一工商注册实体及收款账户 重要会议： 2025势银绿氢产业大会（8月27-28日，江苏·无锡） 点此报名 添加文末微信，加 绿氢 群 8月27日， 2025势银绿氢产业大会 在无锡 新湖铂尔曼大酒店（ 江苏省无锡市新吴区和风路30号 ） 隆重召 ...

Report Summary 1. Report Industry Investment Rating No investment rating is provided in the report. 2. Core Viewpoints - The coking coal market has support from over - production inspection expectations at the bottom and is restricted by the demand for finished products at the top. In the short term, the futures market may maintain a high - level wide - range oscillation pattern. Before the terminal demand in the peak season is verified, it is not recommended to short coking coal for unilateral speculation, and the market should be treated with an oscillation mindset. Coke may face downward price pressure later, and the industry can consider participating in selling hedging according to the situation [4]. - The market has gradually shifted the focus of the game to the demand performance of downstream finished products. The poor demand for finished products in the past two weeks and the decline in high - frequency data have raised concerns about peak - season demand, which will also limit the upside potential of coking coal and coke [4]. 3. Summaries by Relevant Catalogs 3.1 Price Forecast and Risk Management - **Price Forecast**: The monthly price forecast for coking coal is in the range of 1060 - 1350, with a current 20 - day rolling volatility of 32.68% and a historical percentile of 63.87%. For coke, the price range is 1600 - 1800, with a current 20 - day rolling volatility of 25.37% and a historical percentile of 49.13% [3]. - **Risk Management Strategy**: For inventory hedging, when seven rounds of coke price increases have been fully implemented and the possibility of further increases is low, coke producers worried about future price drops can short the J2601 contract of coke at an entry range of (1750, 1800) [3]. 3.2 Core Contradictions - **Positive Factors**: There are still expectations of "anti - involution" in coal mines, and the production increase space for mines in the second half of the year may be limited. Safety accidents in some mines may trigger concerns about strict safety supervision. There is room for policy expectation games before the Fourth Plenary Session in October [6]. - **Negative Factors**: The apparent demand for rebar is poor, and there is pressure on the actual end of finished products. After seven rounds of coke price increases, steel mills' profits have shrunk, and they are resistant to the eighth round of price increases [4][7]. 3.3 Market Data - **Black Warehouse Receipt Data**: On August 27, 2025, compared with the previous day, the warehouse receipts of rebar increased by 23021 tons, hot - rolled coils decreased by 1499 tons, coking coal decreased by 800 hands, etc. [3]. - **Coal and Coke Futures and Spot Prices**: The report provides detailed data on the futures and spot prices of coking coal and coke on August 27, 2025, including basis, cost, and price changes compared with previous days and weeks [7][8]. - **Import and Export Profits**: It shows the import and export profits of coking coal and coke, such as the import profit of Mongolian coal (long - term contract) being 333 yuan/ton, and the export profit of coke being 351 yuan/ton [9].

Group 1 - The top 20 stocks with significant capital inflow as of August 27 include: Yanshan Technology (1.618 billion), Huayin Electric Power (948 million), and Yingweik (730 million) [1] - Yanshan Technology experienced a price increase of 10.08%, while Huayin Electric Power rose by 9.63% [2] - Other notable stocks with substantial capital inflow include Jishi Media (567 million), Tianfeng Securities (485 million), and Maigemeite (437 million) [1][2] Group 2 - The sectors represented among the top inflow stocks include internet services, electric power, specialized equipment, cultural media, and securities [2][3] - Yanshan Technology and Huayin Electric Power are both in the electric power sector, indicating strong interest in this industry [2][3] - The stock with the highest price increase is Keda Intelligent, which rose by 17.75% with a capital inflow of 413 million [2]

Investment Rating - The report maintains a "Buy" rating for the electric power equipment sector [6][18]. Core Viewpoints - The domestic computing power sector is experiencing a significant opportunity for growth driven by multiple factors, including the integration of domestic chips and liquid cooling technology, which is reshaping the computing infrastructure [14][15]. - The report highlights the increasing demand for high-power AIDC cabinets, with power ratings reaching 20-100kW, indicating a shift from optional to essential cooling solutions [14]. - Policy support is crucial, with state-owned data centers required to procure over 50% of their chips from domestic sources, further stimulating the domestic computing power ecosystem [15]. - The report emphasizes the potential for domestic manufacturers to expand overseas, particularly in the diesel generator market, as global demand for AI computing infrastructure rises [16]. Summary by Sections Investment Viewpoints - The report identifies the diesel generator sector as having the most straightforward growth logic, recommending companies such as Weichai Heavy Machinery and KOTAI Power [6][17]. - It also suggests monitoring the gradually increasing penetration of HVDC segments, recommending companies like Kehua Data and Hewei Electric [6][17]. - Lastly, it highlights opportunities in server power supplies and liquid cooling segments, recommending companies like Invec and Shunling Environment [6][17]. Industry Dynamics - The report notes that the electric power equipment sector has seen a 1.94% increase in market performance recently, ranking 16th among various sectors [20]. - It discusses the successful launch of the Ningxia-Hunan ±800 kV UHVDC project, which is expected to enhance the transmission capacity of renewable energy [22]. - The report also mentions the ongoing global demand for AI computing infrastructure, which is expected to provide long-term growth momentum for domestic IDC and computing rental companies [16]. Key Companies and Earnings Forecast - The report provides earnings forecasts for several key companies, including: - KOTAI Power (300153.SZ): EPS forecast of 0.85 in 2025E, with a "Buy" rating [19]. - Weichai Heavy Machinery (000880.SZ): EPS forecast of 0.98 in 2025E, currently unrated [19]. - Kehua Data (002335.SZ): EPS forecast of 1.30 in 2025E, currently unrated [19]. - Invec (002837.SZ): EPS forecast of 0.66 in 2025E, currently unrated [19]. - Shunling Environment (301018.SZ): EPS forecast of 1.05 in 2025E, with a "Buy" rating [19]. - Hewei Electric (603063.SH): EPS forecast of 1.40 in 2025E, with a "Buy" rating [19].

证券之星消息，8月22日风电设备板块较上一交易日上涨0.93%，振江股份领涨。当日上证指数报收于 3825.76，上涨1.45%。深证成指报收于12166.06，上涨2.07%。风电设备板块个股涨跌见下表： 从资金流向上来看，当日风电设备板块主力资金净流入1.2亿元，游资资金净流出6673.27万元，散户资金 净流出5367.81万元。风电设备板块个股资金流向见下表： | 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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 603507 振江股份 | | 7719.84万 | 11.18% | -1745.22万 | -2.53% | -5974.62万 | -8.65% | | 603063 禾望电气 | | 7301.80万 | 6.66% | 4482.38万 | 4.09% | -1.18亿 | -10.75% | | 603985 恒润股份 | | 5171.44万 | 15.33% | -1309.39万 | ...