会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 证券代码：603185 证券简称：弘元绿能 公告编号：2025-037 弘元绿色能源股份有限公司 关于召开 2025 年半年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。 重要内容提示： 会议召开时间：2025 年 8 月 22 日（星期五）16:00-17:00 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 8 月 15 日（星期五）至 8 月 21 日（星期四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 wxsjzqb@163.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 弘元绿色能源股份有限公司（以下简称"公司"）将于 2025 年 8 月 20 日披 露公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半 年度的经营成果、财务状况，公司计划于 ...

金融界消息 截至2025年8月13日收盘，弘元绿能（603185）报收于18.74元，下跌0.21%，换手率 1.32%，成交量8.96万手，成交金额1.68亿元。 资金流向方面，今日主力资金净流出1679.00万元，占比成交额10.01%。其中，超大单净流出131.37万 元、占成交额0.78%，大单净流出1547.63万元、占成交额9.23%，中单净流出流出132.07万元、占成交 额0.79%，小单净流入1811.06万元、占成交额10.8%。 弘元绿能最新一期业绩显示，截至2025一季报，公司营业总收入16.57亿元、同比减少24.37%，归属净 利润6187.58万元，同比增长56.23%，扣非净利润9400.46万元，同比增长42.73%，流动比率0.828、速动 比率0.715、资产负债率58.15%。 来源：金融界 天眼查商业履历信息显示，弘元绿色能源股份有限公司，成立于2002年，位于无锡市，是一家以从事通 用设备制造业为主的企业。企业注册资本67902.2202万人民币，实缴资本41085.0539万人民币。公司法 定代表人为杨建良。 通过天眼查大数据分析，弘元绿色能源股份有限公司共对外投 ...

Core Insights - Hongyuan Green Energy (603185) closed at 19.28 yuan on August 11, 2025, with a 2.44% increase and a turnover rate of 2.04% [1] - The company reported a total revenue of 1.657 billion yuan for Q1 2025, a year-on-year decrease of 24.37%, while net profit attributable to shareholders was 61.88 million yuan, a year-on-year increase of 56.23% [1] Financial Performance - Total revenue for Q1 2025: 1.657 billion yuan, down 24.37% year-on-year [1] - Net profit attributable to shareholders: 61.88 million yuan, up 56.23% year-on-year [1] - Non-recurring net profit: 94.00 million yuan, up 42.73% year-on-year [1] - Current ratio: 0.828, quick ratio: 0.715, debt-to-asset ratio: 58.15% [1] Market Activity - Main funds had a net outflow of 10.62 million yuan, accounting for 4.02% of the transaction amount [1] - Large orders saw a net inflow of 15.15 million yuan, while super large orders had a net outflow of 25.77 million yuan [1] Company Background - Hongyuan Green Energy was established in 2002 and is located in Wuxi City, primarily engaged in general equipment manufacturing [2] - The company has invested in 15 enterprises and participated in 116 bidding projects [2] - It holds 28 trademark registrations and 310 patents, along with 51 administrative licenses [2]

Core Viewpoint - The photovoltaic industry, once thriving, is currently facing significant challenges, with over 100 companies going bankrupt in 2024 alone, and more expected in 2025, indicating a severe downturn in the sector [2][3]. Industry Overview - The photovoltaic industry is undergoing a brutal cleansing phase, with major players like Longi Green Energy acknowledging widespread losses across the sector [2]. - The industry has seen a rapid expansion of production capacity leading to an oversupply situation, causing financial distress for many companies [7]. Company Focus: Wuxi Suntech - Wuxi Suntech, once a leading name in the photovoltaic sector, is undergoing its third bankruptcy restructuring, highlighting its tumultuous history [2][3]. - The company has experienced multiple changes in management and ownership, with recent attempts to stabilize operations through partnerships with local firms like Hongyuan Green Energy [3][4]. Recent Developments - Hongyuan Green Energy has signed a cooperation agreement to manage Wuxi Suntech, aiming to maintain operational stability during the pre-restructuring phase [4][5]. - The agreement allows Hongyuan to manage daily operations while the ownership of licenses remains with the parent company, indicating a cautious approach to the takeover [5]. Financial Performance - Hongyuan Green Energy reported a significant decline in revenue for 2024, with total revenue of 7.302 billion yuan, down 38.42% year-on-year, and a net loss of 2.697 billion yuan [8]. - The company is facing cash flow issues, with a 15.27% decrease in cash reserves and a negative operating cash flow of 999.3 million yuan [9]. Historical Context - Wuxi Suntech has a storied past, having been a pioneer in the photovoltaic industry, but has faced numerous challenges, including financial crises and management conflicts [12][14]. - The company has undergone three major restructurings since its first bankruptcy in 2013, reflecting the volatility and challenges within the industry [23]. Future Outlook - The photovoltaic industry is currently in a phase of deep adjustment, with signs of recovery as silicon prices begin to rebound, but the future of Wuxi Suntech under Hongyuan Green Energy's management remains uncertain [23].

Group 1 - The core point of the article highlights the financing activities of Hongyuan Green Energy, indicating a net selling position in the recent trading days [1] - On August 8, Hongyuan Green Energy had a financing buy amount of 0.15 billion, ranking 993rd in the market, with a financing repayment amount of 0.17 billion, resulting in a net sell of 2.44 million [1] - Over the last three trading days (August 6-8), the financing buy amounts were 0.20 billion, 0.20 billion, and 0.15 billion respectively [1] Group 2 - In terms of securities lending, on August 8, there were no shares sold short, but there was a net purchase of 0.0006 million shares [1]

格隆汇8月1日｜A股市场硅料硅片概念股集体上涨，其中，双良节能涨停，大全能源涨超4%，弘元绿 能涨3%。 消息面上，工业和信息化部办公厅印发《2025年度多晶硅行业专项节能监察任务清单的通知》。请各地 工业和信息化主管部门按照《通知》要求抓紧组织实施，于2025年9月30日前将监察结果报送至工业和 信息化部（节能与综合利用司）。在工业节能监察过程中，要贯彻落实《国务院办公厅关于严格规范涉 企行政检查的意见》（国办发〔2024〕54号），进一步规范工业节能监察程序措施，切实减轻企业负担 消息公布后，多晶硅期货主力合约一度拉升。 MACD金叉信号形成，这些股涨势不错！ ...

Group 1 - The photovoltaic sector has seen a significant rise, with companies such as Shuangliang Energy, Daqo New Energy, Huamin Co., Tongwei Co., TCL Zhonghuan, and Hongyuan Green Energy experiencing notable gains [1] - Various photovoltaic ETFs, including the Photovoltaic ETF Index Fund and the Photovoltaic 50 ETF, have increased by over 2% [1] - The top ten weighted stocks in the photovoltaic ETFs include Yangguang Electric, Longi Green Energy, TCL Technology, and others [2] Group 2 - The market currently has ten ETFs tracking the CSI Photovoltaic Industry Index, with the Huatai-PB Photovoltaic ETF leading in size at 12.206 billion [3] - The Ministry of Industry and Information Technology has issued a notice regarding energy-saving inspections in the polysilicon industry, emphasizing the need for compliance by September 30, 2025 [4] - The current price range for polysilicon is between 45,000 and 52,500 yuan per ton, with potential structural opportunities in downstream segments like silicon wafers and battery cells [4][5] Group 3 - The photovoltaic industry is viewed as a key area for the "anti-involution" strategy, with expectations for improved price stability and market conditions as excess capacity is addressed [5][6] - There is a consensus that the market has moved past the phase of extreme volatility driven by policy expectations and is now in a price platform period [5] - The anticipated effects of the anti-involution policies are expected to enhance market confidence and potentially lead to a new upward trend in the industry [6]

Group 1 - The silicon material and silicon wafer sector has seen a significant rise, with companies like Shuangliang Energy hitting the daily limit up [1] - Other companies such as Daqo New Energy, Huamin Co., Tongwei Co., TCL Zhonghuan, and Hongyuan Green Energy also experienced notable increases in their stock prices [1]

Investment Rating - The report maintains an "Outperform" rating for the power equipment and new energy sector [1]. Core Insights - The photovoltaic index saw a significant rebound in July, with the index rising by 9.73%, outperforming the Shanghai and Shenzhen 300 Index, which had a return of 5.47% during the same period [4][9]. - All sub-sectors within the photovoltaic industry experienced growth, with polysilicon, silicon wafers, and photovoltaic glass leading the gains [12][15]. - The report emphasizes the importance of policy measures aimed at addressing low-price competition in the photovoltaic industry, which is expected to lead to the orderly exit of outdated production capacity [6][16]. Summary by Sections Industry Performance Review - The photovoltaic index showed a strong upward trend in July, with a daily average transaction amount of 29.935 billion yuan, marking a significant increase [9]. - All sub-sectors within the photovoltaic industry reported gains, with polysilicon prices increasing by 33.00%, silicon wafers by 23.38%, and photovoltaic glass by 16.95% [12][15]. Industry and Company Dynamics - The central government has initiated measures to regulate low-price competition in the photovoltaic sector, aiming to enhance product quality and phase out outdated capacity [6][16]. - Domestic demand for photovoltaic installations saw a sharp decline after the end of the installation rush, with June's new installations dropping to 14.36 GW, a year-on-year decrease of 38.45% [19]. - The export of photovoltaic components showed signs of improvement, with a month-on-month increase in May [22]. Investment Recommendations - The report suggests focusing on the "capacity clearance" and "new technology iteration" themes, particularly in polysilicon, photovoltaic glass, BC cells, and perovskite cell leading companies [6][4]. - The photovoltaic industry is currently valued at historical lows, and as capacity reduction progresses, supply and demand dynamics are expected to improve [6].

| 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( * ) 买入营业部 | | | | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-07-29 | 弘元绿能 | 603185 | 19.5 1238.25 | 63.5 | 申万宏源证券有限 | 光大证券股份有限 | | | | | | | | 公司宁波海晏北路 | 公司宁波彩虹北路 | | | | | | | | 江米古山切 | 江米古山如 | | 7月29日，弘元绿能大宗交易成交63.5万股，成交额1238.25万元，占当日总成交额的2.48%，成交价19.5元，较市场收盘价20.17元折价3.32%。 ...