Investment Rating - The report assigns an "Overweight" rating for the industry [4]. Core Insights - The development of AIDC (Artificial Intelligence Data Centers) is expected to exacerbate the electricity shortage in the U.S., putting significant pressure on the power grid. The report anticipates a substantial increase in energy storage demand due to AIDC, recommending companies such as Haibo Shichuang, Sungrow Power Supply, Canadian Solar, and Xidian New Energy [4][7]. - In 2023, U.S. data centers consumed 176 TWh, accounting for 4.4% of total electricity consumption. The IEA projects that by 2028, this consumption will rise to between 325-580 TWh, representing a CAGR of 26.9% over five years, increasing its share of total U.S. electricity demand to 6.7%-12% [7][26]. - The report highlights the aging U.S. power grid, with approximately 70% of transformers in "overdue service" condition, leading to long queue times for data center grid connections, averaging 1-3 years, and up to 7 years in Northern Virginia [7][38]. Summary by Sections 1. Investment Recommendations - The report emphasizes that the growth of AIDC is driving an electricity gap, increasing pressure on the U.S. power grid. The average queue time for data centers to connect to the grid is 1-3 years, with some areas experiencing delays of up to 7 years [7][10]. - AIDC's energy storage is seen as a short-term solution for peak shaving and frequency regulation, with a projected configuration ratio of 20% and a duration of 4 hours [7][46]. 2. AIDC's Impact on Electricity Demand - The report states that U.S. electricity sales are expected to reach 3975 TWh in 2024, with a year-on-year growth of 2.61%, driven by demand from commercial and industrial sectors, including data centers [10]. - The aging power grid and long queue times for data center connections are significant challenges, with many transformers exceeding their expected lifespan [38]. 3. Future of Energy Storage in AIDC - The report predicts that energy storage will become a mainstream self-supply form for data centers, with configurations expected to increase significantly as the demand for electricity rises [7][61]. - The projected demand for data center energy storage from 2026 to 2030 is expected to grow from 10.1 GWh to 165.7 GWh, with a CAGR of 101% [61]. 4. Key Companies in the Industry - **Sungrow Power Supply**: Recognized as a global leader in solar storage, with a significant market share in the U.S. and a projected revenue growth from 1.17 billion to 24.96 billion from 2020 to 2024 [63]. - **Haibo Shichuang**: A leading domestic energy storage system provider expanding into overseas markets, with successful project collaborations in the U.S. [67].

Group 1 - The core viewpoint of the article highlights that Xidian New Energy (603312) has been included in the AI power concept stocks, benefiting from a significant market share in the North American energy storage sector, particularly in battery connection systems, capturing over 60% of the market share due to the promotion of a unified national electricity market policy [1] - On February 11, 2026, Xidian New Energy responded to investor inquiries, clarifying that its main products include battery connection systems and electric control busbars, which are widely used in new energy vehicles and energy storage, emphasizing its core competencies in self-developed technology and customer resources [1] - The company is placing a strong emphasis on market capitalization management and is actively establishing communication mechanisms with the capital market [1] Group 2 - In the recent week (February 6 to 12, 2026), Xidian New Energy's stock price increased by 2.93%, with a fluctuation range of 4.44%, closing at 47.06 yuan as of February 12 [2] - The stock experienced active trading, with a single-day increase of 1.77% on February 9, followed by a slight decline of 0.43% on February 11, indicating a predominance of retail investor activity despite a minor net outflow of institutional funds [2] - Institutions maintain a neutral outlook on Xidian New Energy, with a comprehensive target price of 67.00 yuan, suggesting a potential upside of 32.10% from the current price, driven by anticipated growth in net profit and revenue due to demand in energy storage and new energy vehicles [3]

Group 1 - The core point of the article is that Xidian New Energy (603312) reported a total of 15,176 shareholders as of the market close on January 30 [1]

Core Viewpoint - As of February 10, 2026, the number of shareholders for Xidian New Energy reached 15,094 [2] Company Information - The company has actively engaged with investors through an interactive platform [2] - The shareholder count indicates a growing interest in the company, reflecting potential investor confidence [2]

证券代码：603312 证券简称：西典新能 公告编号：2026-005 苏州西典新能源电气股份有限公司 关于使用部分暂时闲置募集资金购买理财产品到期赎 回并继续购买理财产品的公告 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： 履行的审议程序：苏州西典新能源电气股份有限公司（以下简称"公司"） 于 2025 年 2 月 24 日召开第二届董事会第三次会议和第二届监事会第三次会议，并 于 2025 年 3 月 12 日召开 2025 年第一次临时股东大会，分别审议通过了《关于使用 部分暂时闲置募集资金进行现金管理的议案》。同意在不影响公司经营资金需求和保 障资金安全的情况下，使用不超过人民币 40,000 万元暂时闲置募集资金进行现金管 理，投资对象为安全性高、流动性好的保本型投资产品，包括不限于银行结构性存 款、定期存款、大额存单、通知存款、固定收益凭证等。投资期限不超过 12 个月。 授权的额度使用期限为自股东大会审议通过之日起 12 个月内。公司监事会、保荐机 构发表了明确同意意见。具体内容详见公司于 20 ...

Core Viewpoint - The company has announced a change in its signing registered accountants due to internal adjustments within the auditing firm, which will not adversely affect the financial statements and internal control audits for the year 2025 [1][4]. Group 1: Change of Signing Registered Accountants - The company has appointed Yu Guohui and Sun Jianfei as the new signing registered accountants, replacing Chu Shiwei and Wang Qing due to their work adjustments [1][2]. - Yu Guohui has been a certified public accountant since 2012 and has experience in auditing listed companies since 2010, having signed audit reports for several companies in the past three years [2]. - Sun Jianfei became a certified public accountant in 2026 and has been involved in auditing listed companies since 2018 [2]. Group 2: Integrity and Independence - Both Yu Guohui and Sun Jianfei have no violations of independence requirements as per the relevant accounting standards and have not faced any criminal or administrative penalties in the last three years [3]. Group 3: Impact of the Change - The change in signing registered accountants is a result of internal adjustments within the auditing firm, and the transition has been orderly, ensuring no negative impact on the company's financial reporting and internal control audits for 2025 [4].

Core Viewpoint - Xidian New Energy announced a change in its auditing firm for the 2025 financial statements and internal control audit, appointing new signing auditors due to personnel adjustments [2] Group 1 - The auditing firm appointed is Rongcheng Accounting Firm (Special General Partnership) [2] - The original signing auditors, Ms. Chu Shiwei and Mr. Wang Qing, have been replaced by Mr. Yu Guohui and Mr. Sun Jianfei [2]

证券代码：603312 证券简称：西典新能 公告编号：2026-004 苏州西典新能源电气股份有限公司 关于变更签字注册会计师的公告 项目合伙人及签字注册会计师：俞国徽先生，2012 年成为中国注册会计师，2010 年开始从事上市公司审计业务，2010 年开始在本所执业；近三年签署过世嘉科技 （002796）、华翔股份（603112）等多家上市公司、挂牌公司审计报告。 签字注册会计师：孙建飞先生，2026 年成为中国注册会计师，2018 年开始从事 上市公司审计业务，2018 年开始在本所执业。 （二）诚信记录情况及独立性说明 1 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。 苏州西典新能源电气股份有限公司（以下简称"公司"）于 2025 年 8 月 14 日、 2025 年 9 月 4 日分别召开第二届董事会第九次会议、2025 年第三次临时股东会，审 议通过了《关于续聘审计机构的议案》，同意续聘容诚会计师事务所（特殊普通合伙） 为公司 2025 年度财务审计机构和内部控制审计机构。具体内容详见公司于 2025 年 8 月 ...

Core Viewpoint - The company plans to utilize part of its temporarily idle raised funds for cash management, with a maximum amount of RMB 40 million, to enhance fund efficiency and generate returns for shareholders while ensuring the safety of the funds [1][13]. Group 1: Fund Management and Investment - The company has approved the use of RMB 40 million of temporarily idle raised funds for cash management, investing in low-risk, liquid principal-protected financial products such as structured deposits, time deposits, and fixed-income certificates [1][13]. - The company has previously invested RMB 25 million in structured deposits through Minsheng Bank, which has been redeemed, returning both principal and earnings to the raised funds account [2]. - The total amount for the current cash management investment is RMB 35 million, sourced from idle raised funds [3][4]. Group 2: Financial Background and Fund Usage - The company raised a total of RMB 1,172.41 million from its initial public offering, with a net amount of RMB 1,073.03 million after deducting issuance costs [4]. - The company has established a dedicated account for the raised funds and signed a regulatory agreement with the sponsor and bank to ensure the safety of the funds [6]. - The company emphasizes that the cash management activities will not affect the progress of the investment projects funded by the raised capital, ensuring that the normal operations and cash flow of the company remain unaffected [7][11]. Group 3: Risk Management and Control Measures - The company has implemented a separation of decision-making, execution, and supervision roles to ensure the safety of cash management funds [9]. - The company adheres to prudent investment principles, selecting investment products from reputable issuers to mitigate risks [9]. - The finance department will monitor the cash management products and take necessary measures if any risks to fund safety are identified [9].

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。 证券代码：603312 证券简称：西典新能 公告编号：2026-003 苏州西典新能源电气股份有限公司 关于使用部分暂时闲置募集资金购买理财产品到期赎 回并继续购买理财产品的公告 重要内容提示： 履行的审议程序：苏州西典新能源电气股份有限公司（以下简称"公司"） 于 2025 年 2 月 24 日召开第二届董事会第三次会议和第二届监事会第三次会议，并 于 2025 年 3 月 12 日召开 2025 年第一次临时股东大会，分别审议通过了《关于使用 部分暂时闲置募集资金进行现金管理的议案》。同意在不影响公司经营资金需求和保 障资金安全的情况下，使用不超过人民币 40,000 万元暂时闲置募集资金进行现金管 理，投资对象为安全性高、流动性好的保本型投资产品，包括不限于银行结构性存 款、定期存款、大额存单、通知存款、固定收益凭证等。投资期限不超过 12 个月。 授权的额度使用期限为自股东大会审议通过之日起 12 个月内。公司监事会、保荐机 构发表了明确同意意见。具体内容详见公司于 20 ...