Investment Rating - The report maintains an "Overweight" rating for the electric equipment and new energy industry [2] Core Insights - The report highlights the issuance of the "New Energy Storage Scale Construction Special Action Plan" by the National Development and Reform Commission and the National Energy Administration, aiming for a new energy storage capacity of over 180 million kilowatts by 2027, with direct investment of approximately 250 billion yuan [5][36] - The electric equipment sector has shown strong performance, with a 28.39% increase year-to-date, outperforming the CSI 300 index by 12.81 percentage points [12][18] - The report suggests focusing on leading inverter companies that benefit from the development of new energy storage technologies [40] Market Review - As of September 11, 2025, the electric equipment industry has risen by 11.64% over the past two weeks, ranking first among 31 industries [12] - The wind power equipment sector increased by 0.35%, while the photovoltaic equipment sector rose by 13.34% [18] - The battery sector saw a significant increase of 19.50% in the same period [18] Valuation and Industry Data - The electric equipment sector's PE (TTM) is 31.61 times, with sub-sectors like the motor sector at 61.67 times and photovoltaic equipment at 25.19 times [25] - The report provides detailed valuation metrics for various sub-sectors, indicating a strong market position for electric equipment [25] Industry News - The report discusses the "Electric Equipment Industry Steady Growth Work Plan (2025-2026)" aimed at improving equipment supply quality and promoting high-quality development of new energy equipment [36] - It also mentions the ongoing efforts to enhance the acceptance and regulation capabilities of the grid for clean energy [36] Company Announcements - The report includes various company announcements, such as the completion of registration procedures by Xidian New Energy in Thailand and significant contract wins by Youxunda [38] Weekly Perspective - The report emphasizes the importance of the new energy storage plan and its implications for the electric equipment sector, suggesting that companies with advanced technology and scale in inverter production should be closely monitored [39][40]

截至11日发稿时间，福斯特涨5.40%报16.59元/股，总市值432.8亿元。 今年上半年，福斯特净利同比"腰斩"，是公司自2021年以来较差半年度业绩。上半年，公司实现营收 75.59亿元，同比降26.06%；归母净利润4.96亿元，同比降46.60%。 福斯特解释称，营收下降系本期光伏胶膜销售量基本持平，但销售价格因市场影响而下降，导致光伏胶 膜本期营业收入较上年同期下降；本期光伏背板销售量下降，叠加销售价格下降，营收有较大幅度下 降；感光干膜和铝塑膜产品本期销售量和营收均有不同程度增长。归母净利润和归母扣非净利润同比下 降主要系本期光伏产品销售规模下降盈利减少所致。 8月5日，福斯特披露《股东减持股份计划》公告称，同德实业自减持计划公告之日起三个交易日后的3 个月内通过集中竞价交易或者大宗交易方式减持不超过32523614股公司股份，约占公司总股本的 1.25%。减持价格按照市场价格，若减持期间内公司有资本公积转增股本、增发、配股等除权事项，减 持股份数将相应进行调整。上述减持公告发布次日（8月6日），福斯特股价开盘跌超5%。 资料显示，福斯特是国产感光干膜龙头企业，已覆盖深南电路、鹏鼎控股、TTM迅 ...

Summary of Key Points Core Viewpoint - The announcement details the completion of a share reduction plan by a major shareholder of Foster Applied Materials Co., Ltd, indicating a total reduction of 32,523,614 shares, which represents 1.25% of the company's total equity [2][4]. Group 1: Shareholder Holding Information - As of the announcement date (August 6, 2025), the shareholder, Hangzhou Lin'an Tongde Industrial Investment Co., Ltd, held 32,523,614 non-restricted circulating shares, accounting for approximately 1.25% of the company's total equity [2]. Group 2: Implementation of Reduction Plan - The share reduction plan was executed from August 11, 2025, to September 10, 2025, with the shareholder successfully reducing the full amount of shares planned, totaling 32,523,614 shares, which is 100% of the planned reduction [2][4]. - The actual reduction matched the previously disclosed plan, confirming that the minimum reduction quantity was achieved [4].

Group 1 - Foster announced the completion of a share reduction plan, with a total of 32,523,614 shares sold by Tongde Industrial, accounting for 100% of the planned reduction and 1.25% of the company's total share capital [1] - For the first half of 2025, Foster's revenue composition was as follows: 92.85% from the photovoltaic industry, 4.86% from electronic materials, 0.89% from textiles, 0.71% from other businesses, and 0.39% from other industries [1] - As of the latest report, Foster's market capitalization stands at 41.1 billion yuan [2]

| 证券代码：603806 | 证券简称：福斯特 | | 公告编号：2025-061 | | --- | --- | --- | --- | | 转债代码：113661 | 转债简称：福 | 22 转债 | | 杭州福斯特应用材料股份有限公司 股东持股的基本情况：截至本次减持计划公告日（2025 年 8 月 6 日）， 杭州临安同德实业投资有限公司（以下简称"同德实业"）持有杭州福 斯特应用材料股份有限公司（以下简称"公司"）非限售流通股 32,523,614 股，约占公司总股本的 1.25%。 减持计划的实施结果情况：2025 年 8 月 11 日至 2025 年 9 月 10 日，同 德实业合计减持 32,523,614 股公司股份，占本次减持计划股份数 100%， 占公司总股本 1.25%，本次减持计划实施完毕。 二、减持计划的实施结果 (一)股东因以下事项披露减持计划实施结果： 减持计划实施完毕 股东减持股份结果公告 本公司董事会、全体董事及相关股东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： | 股东名称 | 杭州临安同 ...

格隆汇9月10日丨福斯特(603806.SH)公布，2025年8月11日至2025年9月10日，同德实业合计减持3252.36 万股公司股份，占本次减持计划股份数100%，占公司总股本1.25%，本次减持计划实施完毕。 ...

福斯特公告，股东杭州临安同德实业投资有限公司于2025年8月11日至2025年9月10日通过集中竞价减持 2608.74万股、大宗交易减持643.63万股，合计减持3252.36万股，占公司总股本1.25%，减持价格区间 13.89～15.62元/股，减持总金额4.69亿元，本次减持计划已完成，当前持股0股。 ...

9月9日福斯特大宗交易一览 | 成交量 | 成交金额 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万元） | 格 | 折溢价（%） | 买方营业部 | 卖方营业部 | | 股） | | （元） | | | | | 29.00 | 423.35 | 14.60 | -9.32 | 招商证券股份有限公司西安北 | 广发证券股份有限公司 | | | | | | 大街证券营业部 | 杭州学院路证券营业部 | | 26.00 | 379.60 | 14.60 | -9.32 | 招商证券股份有限公司西安北 | 广发证券股份有限公司 | | | | | | 大街证券营业部 | 杭州学院路证券营业部 | | 19.00 | 277.40 | 14.60 | -9.32 | 招商证券股份有限公司西安北 | 广发证券股份有限公司 | | | | | | 大街证券营业部 | 杭州学院路证券营业部 | | 19.00 | 277.40 | 14.60 | -9.32 | 招商证券股份有限公司南京庐 | 广发证券股份有限公司 | | | | | ...

Summary of Key Points Core Viewpoint - On September 9, Foster executed a block trade of 2 million shares, amounting to 29.1995 million yuan, which represented 5.99% of the total trading volume for the day. The transaction price was 14.6 yuan, reflecting a discount of 9.32% compared to the market closing price of 16.1 yuan [1]. Group 1: Trading Details - The block trade involved 2 million shares of Foster at a price of 14.6 yuan per share [1]. - The total transaction value was 29.1995 million yuan [1]. - The transaction accounted for 5.99% of the total trading volume on that day [1]. Group 2: Price Comparison - The transaction price of 14.6 yuan was 9.32% lower than the market closing price of 16.1 yuan [1].

机构评级来看，近5日共有3家机构给予该股评级，预计目标价最高的是华创证券，9月4日华创证券发布 的研报预计公司目标价为18.63元。（数据宝） 9月8日福斯特大宗交易一览 | 成交量 | 成交金额 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万元） | 格 | 折溢价（%） | 买方营业部 | 卖方营业部 | | 股） | | （元） | | | | | 27.00 | 396.36 | 14.68 | -9.49 | 中信建投证券股份有限公 | 广发证券股份有限公司杭 | | | | | | 司北京望京证券营业部 | 州学院路证券营业部 | | 13.73 | 201.56 | 14.68 | -9.49 | 中信证券股份有限公司总 | 广发证券股份有限公司杭 | | | | | | 部(非营业场所) | 州学院路证券营业部 | | 13.70 | 201.12 | 14.68 | -9.49 | 长城证券股份有限公司总 | 广发证券股份有限公司杭 | | | | | | 部 | 州学院路证券营业部 | 注：本文系新闻 ...