Group 1 - The company, Hewei Electric (603063.SH), announced its first share buyback on September 8, 2025, through centralized bidding, purchasing 15,000 shares, which represents 0.0033% of the total share capital [1] - The highest and lowest purchase price for the shares was 33.50 yuan per share, with a total payment of 502,500.00 yuan (excluding transaction fees) [1] - The buyback complies with relevant laws and regulations as well as the company's established share repurchase plan [1]

证券代码：603063 证券简称：禾望电气 公告编号：2025-080 深圳市禾望电气股份有限公司 关于以集中竞价交易方式首次回购公司股份的公告 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 | 2025 年 月 4 11 日 | 4 | 12 | 日~2026 | 年 | 月 | | 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 | 15,000股 | | | | | | | 累计已回购股数占总股本比例 | 0.0033% | | | | | | | 累计已回购金额 | 502,500.00元 | | | ...

Group 1 - The company announced its first share buyback on September 8, 2025, repurchasing 15,000 shares, which represents 0.0033% of the total share capital [1] - The shares were bought at a fixed price of 33.5 yuan per share, with a total expenditure of 502,500 yuan (excluding transaction fees) [1] - This buyback is part of a previously disclosed plan on April 12, 2025, with an expected total buyback amount between 10 million yuan and 20 million yuan [1]

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]

Core Points - The company Shenzhen He望 Electric Co., Ltd. announced a share repurchase plan with a proposed amount between RMB 10 million and RMB 20 million [1] - The repurchase period is set from April 12, 2025, to April 11, 2026 [1] - The repurchase is intended for employee stock ownership plans or equity incentives [1] Repurchase Progress - As of August 31, 2025, the company has not yet conducted any share repurchases [2] - The company will adhere to relevant regulations and make repurchase decisions based on market conditions [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。 | 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]

Core Viewpoint - The article highlights the 2025 TrendBank Green Hydrogen Industry Conference held in Wuxi, Jiangsu, focusing on recognizing and awarding companies that contribute to the advancement of the green hydrogen industry in China [3][14]. Awards Summary - The conference awarded several key prizes, including: - 2025 Green Hydrogen Industry Pioneer Award - 2025 Green Hydrogen Market Leadership Award - 2025 Green Hydrogen Potential New Star Award - 2025 Green Hydrogen Application Demonstration Award - 2025 Green Hydrogen Technology Breakthrough Award [5][11]. Award Winners - **2025 Green Hydrogen Industry Pioneer Award** winners include: - Sichuan Yalian Hydrogen Energy Technology Co., Ltd. - Qihydrogen (Shanghai) New Energy Technology Co., Ltd. - Shenzhen Hewei Electric Co., Ltd. - Jiangsu Shuangliang Hydrogen Energy Technology Co., Ltd. - Ningbo Zhongke Hydrogen Easy Membrane Technology Co., Ltd. [7]. - **2025 Green Hydrogen Market Leadership Award** winners include: - China Shipbuilding (Handan) Pairui Hydrogen Energy Technology Co., Ltd. - Shandong Saikesaisi Hydrogen Energy Co., Ltd. - SANY Hydrogen Energy Co., Ltd. - Jiangsu Hydrogen Guide Intelligent Equipment Co., Ltd. [9]. - **2025 Green Hydrogen Potential New Star Award** winners include: - Wuxi Tianrong New Energy Technology Co., Ltd. - Suzhou Zhiqing Boci Technology Co., Ltd. [10]. - **2025 Green Hydrogen Application Demonstration Award** winners include: - China Materials Technology (Suzhou) Co., Ltd. - Changchun Green Motion Hydrogen Energy Technology Co., Ltd. [11]. - **2025 Green Hydrogen Technology Breakthrough Award** winners include: - Zhejiang Haiyan Liyuan Environmental Protection Technology Co., Ltd. - Wuxi Weifu High Technology Group Co., Ltd. [11].

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].