证券代码：603063 证券简称：禾望电气 公告编号：2026-003 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 单位：万元 | 被担保人名称 | 本次担保 | 实际为其提供的担保余额 | 是否在前期 | 本次担保是 | | --- | --- | --- | --- | --- | | | 金额 | （不含本次担保金额） | 预计额度内 | 否有反担保 | | 深圳市禾望科技有限公司 | 34,500 | 221,262.55 | 是 | 否 | | （以下简称"禾望科技"） | | | | | 累计担保情况 深圳市禾望电气股份有限公司 关于为全资子公司提供担保的进展公告 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股子公司对 | 534,723.22 | | 外担保总额（万元） | | | 对外担保总额占上市公司最近一期经审计 | 124.31 | | 净资产的比例（%） | | | 特别风险提示 | □担保金额（含本次 ...

Core Viewpoint - Hezhong Electric has shown a positive stock performance with a 2.09% increase on January 9, 2023, and a total market capitalization of 15.449 billion yuan, indicating investor interest in the company's growth potential in the energy sector [1]. Group 1: Stock Performance - As of January 9, 2023, Hezhong Electric's stock price reached 33.74 yuan per share, with a trading volume of 578 million yuan and a turnover rate of 3.79% [1]. - Year-to-date, the stock price has increased by 2.03%, with a 14.26% rise over the past 20 trading days [1]. Group 2: Financial Performance - For the period from January to September 2025, Hezhong Electric reported a revenue of 2.778 billion yuan, reflecting a year-on-year growth of 20.19%, and a net profit attributable to shareholders of 334 million yuan, up 31.99% year-on-year [2]. Group 3: Shareholder Information - As of December 20, 2025, the number of shareholders for Hezhong Electric decreased by 15.15% to 56,000, while the average number of circulating shares per person increased by 17.86% to 8,173 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder, holding 10.5675 million shares, a decrease of 2.9177 million shares from the previous period [3].

Core Viewpoint - Hezhong Electric has shown a positive financial performance with significant growth in revenue and net profit, indicating strong operational capabilities in the energy conversion sector [2]. Group 1: Financial Performance - As of January 6, Hezhong Electric's stock price increased by 0.61%, with a trading volume of 844 million yuan [1]. - For the period from January to September 2025, Hezhong Electric achieved a revenue of 2.778 billion yuan, representing a year-on-year growth of 20.19% [2]. - The company's net profit attributable to shareholders reached 334 million yuan, marking a year-on-year increase of 31.99% [2]. Group 2: Shareholder and Market Activity - As of December 20, the number of shareholders for Hezhong Electric was 56,000, a decrease of 15.15% from the previous period [2]. - The average number of circulating shares per shareholder increased by 17.86% to 8,173 shares [2]. - On January 6, the financing balance for Hezhong Electric was 1.049 billion yuan, accounting for 6.91% of its market capitalization, which is above the 60th percentile of the past year [1]. Group 3: Shareholding Structure - As of September 30, 2025, the second-largest circulating shareholder was Hong Kong Central Clearing Limited, holding 10.5675 million shares, a decrease of 2.9177 million shares from the previous period [2]. - New entrants among the top ten circulating shareholders include Agricultural Bank of China New Energy Mixed A, holding 3.9564 million shares, and Huaxia CSI 1000 ETF, holding 2.4647 million shares [2]. - Notably, several funds exited the top ten circulating shareholders list, indicating potential shifts in investor sentiment [2].

Core Viewpoint - The announcement details the results of the stock option incentive plan for the fourth quarter of 2025, highlighting the number of stock options exercised and the overall impact on the company's share structure and financials. Group 1: Stock Option Exercise Results - The number of stock options exercised in the second exercise period of the 2023 stock option incentive plan is 6.2832 million, with a total of 4,396,090 shares exercised by the end of 2025, accounting for 69.97% of the total exercisable options [1][12][15] - From October 1, 2025, to December 31, 2025, a total of 159,860 shares were exercised and registered [1][12] Group 2: Stock Option Plan Overview - The 2023 stock option incentive plan was approved by the board and shareholders, with 2.247 million options granted to 350 eligible participants on April 17, 2023 [2][4] - The plan includes provisions for adjustments to the exercise price, which has been modified multiple times, with the latest adjustment setting the price at 27.269 yuan per share [5][11] Group 3: Financial Impact and Fund Utilization - The funds raised from the stock option exercise amount to 4,359,222.34 yuan, with a total of 119,876,978.21 yuan raised by the end of 2025 [14][15] - The raised funds will be used to supplement the company's cash flow, and the exercise does not significantly impact the company's financial condition or operating results [15]

证券代码：603063 证券简称：禾望电气 公告编号：2026-002 深圳市禾望电气股份有限公司 关于股票期权激励计划 2025 年第四季度自主行权结果 暨股份变动的公告 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： 本次行权股票数量： 公司 2023 年股票期权激励计划首次授予部分第二个行权期可行权股票期权 数量为 628.32 万份，行权有效期为 2025 年 6 月 3 日-2026 年 4 月 16 日，行权方 式为自主行权。2025 年 10 月 1 日至 2025 年 12 月 31 日期间共行权且完成股份 过户登记 159,860 股，截至 2025 年 12 月 31 日，累计行权且完成股份过户登记 4,396,090 股，占可行权股票期权总量的 69.97%。 本次行权股票上市流通时间：公司 2023 年股票期权激励计划采用自主行 权模式行权，激励对象行权所得股票于行权日（T 日）后的第二个交易日（T+2） 日上市交易。 一、2023 年股票期权激励计划 （一）2023 年股票期权激励计划 ...

Group 1 - The company, Hewei Electric, announced on January 4 that as of December 31, 2025, it has repurchased a total of 31,000 shares, which represents 0.0068% of the company's total share capital [1] - The highest repurchase price was 33.5 yuan per share, while the lowest was 31.08 yuan per share [1] - The total amount of funds spent on the share repurchase is approximately 1 million yuan [1] Group 2 - The article mentions a significant downturn in the U.S. stock market, with a reported decline of 20% [1] - It raises questions about the future of AI, quantum computing, and their potential impacts on various sectors, including cryptocurrency and gold prices [1]

Core Viewpoint - Hezhong Electric (603063.SH) announced a share buyback program, indicating a commitment to returning value to shareholders through repurchase of shares [1] Group 1: Share Buyback Details - As of December 31, 2025, the company has repurchased a total of 31,000 shares, which represents 0.0068% of the total share capital [1] - The highest price paid for the repurchased shares was 33.50 CNY per share, while the lowest price was 31.08 CNY per share [1] - The total amount spent on the share buyback was 999,770.00 CNY, excluding transaction costs such as stamp duty and commissions [1]

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。 注：股本比例以截至 2025 年 12 月 30 日股本计算。 证券代码：603063 证券简称：禾望电气 公告编号：2026-001 深圳市禾望电气股份有限公司 一、 回购股份的基本情况 2025 年 4 月 11 日，深圳市禾望电气股份有限公司（以下简称"公司"）召开 2025 年第一次临时董事会会议，审议通过了《关于回购公司股份方案的议案》，同 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交易方式回购股份的预案》（公告编号： 2025-032）。 回购方案首次披露日 2025/4/12 ...

Core Insights - The report emphasizes the growth potential in the energy storage sector, driven by the implementation of capacity pricing mechanisms in China and increasing demand for energy storage solutions globally, particularly in the context of AI advancements [7][14][27] - The photovoltaic (PV) industry is expected to see a reversal in profitability due to ongoing technological innovations and regulatory measures aimed at curbing excessive competition [7][14][27] Energy Storage - Large-scale energy storage in China is transitioning towards market-driven models, with the introduction of capacity pricing mechanisms expected to enhance the economic viability of storage projects. The expected installed capacity for energy storage in China is projected to reach 154 GWh in 2025, 254 GWh in 2026, and 337 GWh in 2027, representing year-on-year growth rates of 40.2%, 65.2%, and 32.5% respectively [7][14][27] - The report highlights that the U.S. is experiencing rapid growth in energy storage demand, particularly driven by data center construction, with an anticipated addition of 13 GW of data centers leading to a storage demand of 10.7 to 25 GWh [7][14][27] - In Europe, the demand for flexible resources is increasing, and the development of large-scale storage is accelerating due to improved business models and subsidies. The report forecasts that global energy storage installations will reach approximately 279 GWh in 2025, 423 GWh in 2026, and 563 GWh in 2027, with year-on-year growth rates of 44%, 52%, and 33% respectively [7][14][27] Photovoltaic Industry - The report notes that the PV industry is undergoing a "de-involution" process, with regulatory bodies emphasizing the need to address price violations and excessive competition within the sector. This is expected to lead to improved profitability in the downstream component segment of the PV industry by 2026 [7][14][27] - Global PV installations are projected to reach nearly 580 GW in 2026, reflecting a year-on-year growth of 6%, driven by reasonable capacity limits in various regions [7][14][27] - Technological innovations aimed at reducing costs and increasing efficiency are expected to facilitate a reversal in profitability for the PV sector, with advancements in battery technology playing a crucial role [7][14][27] Investment Recommendations - The report recommends investing in leading companies in the PV sector that are driving N-type technology innovations, such as JinkoSolar, Tongwei Co., Longi Green Energy, and JA Solar. It also suggests focusing on companies benefiting from new technological iterations in auxiliary materials [7][14][27] - In the energy storage sector, it highlights companies with technological leadership and competitive advantages, such as Sungrow Power Supply, Hubei Huadian, Canadian Solar, and Shenghong Technology, while also suggesting attention to firms like Shuneng Electric and Kehua Data [7][14][27]

Core Insights - The report emphasizes a high growth period for the wind power industry, driven by structural inflation and dual coastal dynamics, leading to a profit reversal [1] - The investment strategy is rated as "Buy" for the wind power sector, reflecting confidence in future growth [2] Group 1: Global Demand and Market Dynamics - The "136 Document" promotes the full market entry of renewable energy, with a significant shift in capital expenditure from solar to wind power among major state-owned enterprises [15][16] - Domestic wind power installations are expected to grow, with onshore wind capacity projected to increase from 100 GW to 105 GW and offshore wind from 9 GW to 15 GW between 2025 and 2027, reflecting a compound annual growth rate (CAGR) of approximately 29.1% for offshore wind [17][18] Group 2: Profitability and Market Trends - The report indicates that the domestic wind power sector is entering a profitability upturn due to the effectiveness of anti-involution policies, with high-price orders securing profits for the next two years [19] - The transition from large-scale competition to a diversified value chain is highlighted, with a focus on cost reduction and risk mitigation as large-scale projects slow down [36] Group 3: Investment Recommendations - The report suggests focusing on companies with high overseas customer ratios and active offshore deployment, such as Goldwind Technology, Mingyang Smart Energy, and SANY Heavy Energy [5] - For foundational components, companies like Dajin Heavy Industry and Hailey Wind Power are recommended, while for subsea cables, firms with strong port capabilities like Dongfang Cable and Zhongtian Technology are highlighted [5] Group 4: Regional and International Developments - The report notes that European offshore wind capacity is expected to grow significantly, with a projected CAGR of 54.3% from 2025 to 2027, driven by strong policy support and market demand [36] - In Asia, countries like Vietnam and the Philippines are setting ambitious offshore wind targets, with Vietnam aiming for 6 GW by 2030 and the Philippines targeting 40 GW by 2050 [44]