Group 1 - The core viewpoint of the news highlights the strong performance of the photovoltaic ETF (159857), which saw a 5.19% increase and significant trading volume, indicating robust investor interest in the sector [3] - The underlying index, the CSI Photovoltaic Industry Index (931151), also experienced a strong rise of 5.08%, with notable gains from constituent stocks such as Daqo New Energy (688303) up 15.30%, Sungrow Power Supply (300274) up 10.49%, and Tongwei Co., Ltd. (600438) up 10.00% [3] - Over the past week, the photovoltaic ETF has seen a substantial increase in scale by 64.87 million yuan and a growth of 19 million shares over the past two weeks, leading the market in similar products [3] Group 2 - The Ministry of Industry and Information Technology of China held a meeting on July 3, focusing on accelerating the high-quality development of the photovoltaic industry, emphasizing the need to eliminate low-price competition and enhance product quality [4] - The government aims to guide healthy competition and support the exit of outdated production capacity, positioning China as a global leader in photovoltaic technology and a key player in the low-carbon energy transition [4] - The CSI Photovoltaic Industry Index is currently valued at a historical low with a price-to-book ratio (PB) of 1.78, which is below 82.54% of the time over the past three years, indicating a favorable valuation for investors [4] Group 3 - The photovoltaic ETF closely tracks the CSI Photovoltaic Industry Index, which includes up to 50 representative companies involved in the photovoltaic industry chain, reflecting the overall performance of listed companies in this sector [5]

证券代码：603185 证券简称：弘元绿能 公告编号：2025-032 弘元绿色能源股份有限公司 关于使用闲置募集资金进行现金管理的进展公告 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个别及连带责任。 重要内容提示： ● 已履行的审议程序：弘元绿色能源股份有限公司（以下简称"公司"） 于 2025 年 5 月 20 日召开 2024 年年度股东大会，审议并通过了《关于使用闲置 募集资金进行现金管理的议案》，同意公司在不影响公司募投项目建设和正常经 营业务的前提下，使用总额不超过人民币 38,000 万元（含）的闲置募集资金进 行现金管理，适当购买安全性高、流动性好、有保本约定的理财产品或存款类产 品，投资产品的期限不超过 12 个月，在上述额度内，资金可循环滚动使用。公 司监事会、保荐机构均发表了同意意见。 ● 特别风险提示：公司本次使用暂时闲置的募集资金进行现金管理，投资 的产品为安全性高、流动性好、有保本约定的理财产品，但金融市场可能受宏观 经济的影响，不排除本次现金管理受到市场波动影响预期收益。 一、前次使用部分闲置募集资金进 ...

Core Points - The company has approved the use of idle raised funds for cash management, specifically investing in high-security, liquid, and capital-protected financial products, with a total amount not exceeding RMB 38 million [1][4] - The company has recently redeemed a structured deposit from Huaxia Bank, recovering the principal of RMB 21 million and earning a return of RMB 114,953.41 [2][3] - The cash management aims to enhance fund utilization efficiency and safeguard shareholder interests without affecting ongoing investment projects [2][5] Cash Management Overview - Cash management amount for this transaction is RMB 21 million [2][4] - The funds used for cash management are temporarily idle funds raised from the company's 2020 convertible bond issuance, which raised a net amount of approximately RMB 654.54 million [3][5] - The structured deposit has a maturity date of September 30, 2025, with expected annualized returns ranging from 1.00% to 2.10% [4][5] Financial Impact - As of March 31, 2025, the company's total assets were approximately RMB 2,922.28 million, with total liabilities of RMB 1,733.86 million and net assets attributable to shareholders of RMB 1,188.42 million [5][6] - The cash management amount represents 0.40% of the company's cash holdings at the end of the last reporting period [5][6] - The company has utilized a total of RMB 36.8 million in cash management over the past twelve months, with a maximum single-day investment of RMB 13.7 million [8]

证券代码：603185 证券简称：弘元绿能 公告编号：2025-031 《中国证券报》及上海证券交易所网站（www.sse.com.cn）的《关于使用闲置募 集资金进行现金管理的进展公告》（公告编号：2025-007）。上述理财产品已于 近日到期，公司已收回本金 2,100 万元，并收到理财收益 114,953.41 元。 二、现金管理概况 （一）现金管理目的 弘元绿色能源股份有限公司 关于使用闲置募集资金进行现金管理的进展公告 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个别及连带责任。 重要内容提示： ● 已履行的审议程序：弘元绿色能源股份有限公司（以下简称"公司"） 于 2025 年 5 月 20 日召开 2024 年年度股东大会，审议并通过了《关于使用闲置 募集资金进行现金管理的议案》，同意公司在不影响公司募投项目建设和正常经 营业务的前提下，使用总额不超过人民币 38,000 万元（含）的闲置募集资金进 行现金管理，适当购买安全性高、流动性好、有保本约定的理财产品或存款类产 品，投资产品的期限不超过 12 个月，在上述额度内 ...

弘元绿色能源股份有限公司（以下简称"公司"）于 2025 年 1 月 6 日召开 第四届董事会第二十七次会议，审议通过《关于拟转让嘉兴仲平国瑀股权投资合 伙企业(有限合伙)财产份额的议案》，同意公司将所持嘉兴仲平国瑀股权投资合 伙企业（有限合伙）（以下简称"仲平国瑀"）49.9950%的财产份额转让给江苏 锐昂思科技有限公司，转让对价为 50,000.00 万元。具体内容详见公司于 2025 年 1 月 7 日披露的《关于拟转让嘉兴仲平国瑀股权投资合伙企业(有限合伙)财产 份额的公告》（公告编号：2025-002）。 二、交易进展 截至本公告日，公司已收到全部转让款，仲平国瑀已完成相关工商变更登记 手续，本次财产份额转让事项已全部完成。公司不再持有仲平国瑀财产份额。 证券代码：603185 证券简称：弘元绿能 公告编号：2025-030 弘元绿色能源股份有限公司 关于转让嘉兴仲平国瑀股权投资合伙企业(有限合伙) 财产份额的进展公告 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个别及连带责任。 一、交易概述 特此公告。 弘元绿色能源股份 ...

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个别及连带责任。 弘元绿色能源股份有限公司（以下简称"公司"）于 2024 年 3 月 8 日、2024 年 3 月 26 日、2025 年 4 月 29 日和 2025 年 5 月 20 日分别召开第四届董事会第 二十次会议、2024 年第一次临时股东大会、第四届董事会第二十八次会议和 2024 年年度股东大会，审议通过《关于变更注册资本、英文名称及修订公司章程的议 案》及《关于变更注册资本及修订公司<章程>的议案》。具体内容详见公司于 2024 年 3 月 9 日、2025 年 4 月 30 日在指定信息披露媒体及上海证券交易所网站 (http://www.sse.com.cn)发布的《关于变更注册资本、英文名称及修订公司章 程的公告》（公告编号：2024-023）、《关于变更注册资本及修订公司<章程>的公 告》（公告编号：2025-023）。 近日，公司完成了公司《章程》备案和相关事项工商变更登记手续，并取得 无锡市数据局换发的《营业执照》。公司本次变更后的企业登记基本信息如下： 统一 ...

证券代码：603185 证券简称：弘元绿能 公告编号：2025-029 弘元绿色能源股份有限公司 关于完成工商变更登记并换发营业执照的公告 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个别及连带责任。 经营范围：数控机床、通用机床、自动化控制设备、检测设备、金属结构件、 机床零部件及配件的制造、加工、销售；五金加工；数控软件的开发；自营和代 理各类商品及技术的进出口业务（国家限定企业经营或禁止进出口的商品和技术 除外）。（依法须经批准的项目，经相关部门批准后方可开展经营活动） 一般项目：电子专用材料研发；电子专用材料制造；电子专用材料销售；半 导体器件专用设备制造；半导体器件专用设备销售；非金属矿物制品制造；非金 属矿及制品销售；光伏设备及元器件制造；光伏设备及元器件销售（除依法须经 批准的项目外，凭营业执照依法自主开展经营活动） 弘元绿色能源股份有限公司（以下简称"公司"）于 2024 年 3 月 8 日、2024 年 3 月 26 日、2025 年 4 月 29 日和 2025 年 5 月 20 日分别召开第四届董事会第 二十次会 ...

Industry Overview - The photovoltaic market is experiencing intensified competition, leading to significant price declines and many companies facing losses upon production commencement due to rapid capacity expansion causing supply-demand mismatches [1][4] - The industry is currently in a deep adjustment phase, with overall operating rates declining and over 140,000 employees laid off across 109 listed photovoltaic companies last year [1] Company Insights - Major companies in the Baotou equipment manufacturing industrial park include Hongyuan New Materials, Baotou Canadian Solar, and Baotou JA Solar, primarily focusing on upstream processes like crystal pulling and slicing [1][5] - Despite claims of maintaining operational rates, some companies report significant reductions in workforce and production lines due to decreased orders, with some factories experiencing shutdowns [1][9] Employee Conditions - Employees report reduced wages and job insecurity, with some stating that salaries have dropped from over 10,000 yuan to as low as 3,000 yuan, reflecting the industry's downturn [2][3] - Workers face strict conditions regarding working hours and pay, with deductions for insufficient attendance, leading to a high turnover rate as employees leave for better opportunities [2][3] Market Dynamics - The operating rates for leading companies in the silicon wafer sector are reported at 50% to 56%, while integrated companies range from 56% to 80%, indicating a general decline in production capacity [5][10] - The overall market demand is expected to decrease, which may lead to further fluctuations in operating rates and continued layoffs in the sector [5][10] Economic Impact - The decline in the photovoltaic industry has adversely affected surrounding businesses, with local commercial areas experiencing reduced foot traffic and sales due to lower employee wages and numbers [12][15] - The ripple effect of production halts is impacting service industries, with many restaurants and shops reporting significant drops in revenue and some even closing down [12][15][16] Future Outlook - Analysts suggest that improving supply-demand dynamics, policy support, and industry self-regulation could help stabilize the industry and employee wages, but short-term solutions remain elusive [16]

Core Viewpoint - The company has experienced a significant decline in stock price, dropping over 90% from its historical peak, reflecting the cyclical nature of the technology sector, similar to that of the pork industry [2] Financial Performance - The company reported strong financial performance in 2021 and 2022, with a global silicon wafer shipment of 31.18 GW in 2022, ranking third globally [4][5] - In 2023, the company faced a revenue decline of 38.42% to 7.302 billion yuan and a net loss of 2.697 billion yuan, but showed signs of reduced losses in Q1 2025 with revenue of 1.657 billion yuan and a net loss of 61.8758 million yuan [7] Industry Context - The solar industry has been in a downturn for over a year and a half, with price reductions starting in Q4 2023 [7] - The company maintains a relatively low debt ratio of 58.15% in Q1 2025 compared to other integrated solar companies, which exceed 70% [7] Strategic Positioning - The company emphasizes its integrated development as a competitive advantage, allowing it to mitigate risks associated with low external sales prices by utilizing its products internally [8][10] - The company has increased its silicon material production efficiency from a designed capacity of 50,000 tons to 75,000 tons, benefiting from low production costs in Inner Mongolia [8] Market Outlook - The management expressed confidence in navigating the current downturn, stating that the company can accept breakeven or slight losses to maintain operations without risking financial stability [10] - The company is not planning to sell or participate in the restructuring of its silicon material capacity, focusing instead on self-use of its advanced production capacity [7][10]

北京植德（上海）律师事务所 关于弘元绿色能源股份有限公司 2024 年年度股东大会的 法律意见书 植德沪(会)字[2025]0020 号 二〇二五年五月 植德沪(会)字[2025]0020 号 致：弘元绿色能源股份有限公司（贵公司） 北京植德（上海）律师事务所（以下简称"本所"）接受贵公司的委托，指 派律师出席并见证贵公司 2024 年年度股东大会（以下简称"本次会议"）。 本所律师参加本次会议进行见证，并根据《中华人民共和国公司法》（以下 简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司股东会规则》（以下简称"《股东会规则》"）、《律师事务所从事 证券法律业务管理办法》（以下简称"《证券法律业务管理办法》"）、《律师 事务所证券法律业务执业规则（试行）》（以下简称"《证券法律业务执业规则》"） 等相关法律、行政法规、规章、规范性文件及《弘元绿色能源股份有限公司章程》 （以下简称"《公司章程》"）的规定，就本次会议的召集与召开程序、召集人 资格、出席会议人员资格、会议表决程序及表决结果等事宜，出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 上海市徐汇区虹 ...