宁波德业储能科技有限公司年产 7GWh 工商储生产线项目 宁波德业储能科技有限公司 年产 7GWh 工商储生产线项目可行性研究 宁波德业储能科技有 八百 t and the state t and 宁波德业储能科技有限公司年产 7GWh 工商储生产线项目 目 录 | 1 总论 … | | --- | | 1.1 项目背景 . | | 1.2 项目概况 . | | 1.3 结论与建议 | | 2 项目背景及必要性 . | | 2.1 项目背景 . | | 2.2 产业政策及规划分析 | | 2.3 项目建设的必要性 . | | 3 市场分析 . | | 3.1 产品简介 . | | 3.2 产品市场供应现状 . | | 3.3 产品市场需求现状及预测 | | 3.4 产品目标市场 . | | 3.5 产品销售价格预测 . | | 3.6 市场竞争力分析 . | | 3.7 市场分析结论 . | | 4 建设规模与产品方案 | | 4.1 建设规模 …………………………………………………………………………………………………………………………………………………………………………………………………………………………… ...

证券代码：605117 证券简称：德业股份 公告编号：2025-092 宁波德业科技股份有限公司 关于变更部分募集资金用途及新增募投项目和实施 地点的公告 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。 重要内容提示： 原项目名称：年产 25.5GW 组串式、储能式逆变器生产线建设项目； 新项目名称及投资总金额：年产 7GWh 工商储生产线项目，投资总金额 为人民币 111,196 万元； 变更募集资金投向的金额：宁波德业科技股份有限公司（以下简称"公 司"）拟将募集资金投资项目"年产 25.5GW 组串式、储能式逆变器生产线建设 项目"截至 2025 年 10 月 17 日暂未使用的募集资金 65,114.07 万元（含尚未收回 的闲置募集资金现金管理购买的保本型银行结构性存款、理财产品为人民币 50,000 万元及银行理财收益银行存款利息收入扣除银行手续费后的净额，具体金 额以实际结转时募集资金专户余额为准）用于新项目建设，共计变更 65,114.07 万元； 新项目预计正常投产并产生收益的时间：新项目计划建设期为 ...

证券代码：605117 证券简称：德业股份 公告编号：2025-091 宁波德业科技股份有限公司 关于取消监事会、变更注册资本、修订《公司章程》 及修订、新增部分管理制度的公告 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。 宁波德业科技股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日召 开了第三届董事会第十八次会议，审议通过了《关于取消监事会、变更注册资本 并修订<公司章程>的议案》《关于修订及新增部分管理制度的议案》，现将具体 情况公告如下： 一、关于取消监事会的情况 根据《中华人民共和国公司法》《上市公司章程指引》《上海证券交易所股票 上市规则》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》等相 关法律、法规、规范性文件的规定，结合公司实际情况，公司拟取消监事会。监 事会取消后，监事会的职权将由董事会审计委员会行使，第三届监事会非职工代 表监事来二航先生、乐飞军先生将不再担任监事职务，《监事会议事规则》等监 事会相关制度将相应废止。 在公司股东大会审议通过该事项之前，公司第三届监事 ...

证券代码：605117 证券简称：德业股份 公告编号：2025-095 宁波德业科技股份有限公司 2025年半年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利1.108元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/11/4 | － | 2025/11/5 | 2025/11/5 | 二、 分配方案 1. 发放年度：2025年半年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 根据《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等有关规定，公司 回购专用账户中的股份，不享有利润分配、公积金转增股本的权利。公司回购专用证券账户 中的股份将不参与本次利润分配。 3. 差异化分红送转方案： （1） ...

中国国际金融股份有限公司 关于宁波德业科技股份有限公司 2025 年半年度差异化分红事项的核查意见 中国国际金融股份有限公司(以下简称"保荐机构"或"中金公司")作为 宁 波德业科技股份有限公司(以下简称"德业股份"或"公司")持续督导的保荐机构, 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股份回购规 则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等有关法律 法规和规范性文件的要求,就公司 2025年半年度差异化分红事项进行了核查, 核查情况及核查意见如下: 一、本次差异化分红的原因 公司已于 2025 年 4 月 21 日召开第三届董事会第十三次会议,审议通过了 《关于以集中竞价交易方式回购公司股份方案的议案》,同意公司使用自有资金 不低于人民币 1 亿元（含）且不超过人民币 2 亿元（含） 以集中竞价交易方式 回购公司股份,本次回购股份将用于员工持股计划或股权激励。回购期限为自公 司董事会审议通过回购方案之日起不超过 12 个月。 截至 2025年 10月 9日,公司已实际回购公司股份 1.907.200 股,占公司总 股本的比例为 0.21%。 截至本核查意见出具之 ...

Group 1 - The core viewpoint of the news is that Deyang Co., Ltd. has seen a significant increase in stock price, rising by 5.03% to 81.16 yuan per share, with a total market capitalization of 736.74 billion yuan [1] - Deyang Co., Ltd. specializes in the research, production, and sales of environmental electrical products, including evaporators, condensers, variable frequency control chips, dehumidifiers, and air source heat pump hot air machines [1] - The company's main revenue sources are inverters (47.77%), energy storage battery packs (25.69%), heat exchangers (15.68%), dehumidifiers (7.36%), and other products (3.16%) [1] Group 2 - From the perspective of fund holdings, a fund under Industrial Bank has Deyang Co., Ltd. as one of its top ten holdings, with 12,500 shares held, accounting for 2.58% of the fund's net value [2] - The fund, named Industrial Bank Zhi Yuan Mixed A, has achieved a year-to-date return of 38.34% and a one-year return of 40.19%, ranking 2112 out of 8155 and 1578 out of 8031 respectively [2] - The fund manager, Chen Kaiyue, has been in position for nearly two years, with the best fund return during this period being 57.9% [3]

Group 1 - The A-share photovoltaic sector is experiencing significant gains, with companies like Canadian Solar hitting the 20% limit up, and Longi Green Energy and Hongyuan Green Energy rising over 9% [1] - Policy signals are increasingly positive, with China International Capital Corporation noting that meetings have clarified the acceleration of carbon peak and carbon neutrality goals, alongside local supportive measures in places like Henan, which are expected to boost domestic energy storage demand and subsequently drive photovoltaic installation demand [1] - As of October 29, 2025, the CSI Photovoltaic Industry Index (931151) has surged by 6.85%, with key stocks such as Canadian Solar up 19.97% and Sungrow Power Supply up 11.83% [1] Group 2 - As of September 30, 2025, the top ten weighted stocks in the CSI Photovoltaic Industry Index (931151) include Sungrow Power Supply, Longi Green Energy, and TBEA, collectively accounting for 58.02% of the index [2]

Investment Rating - The report maintains an "Outperform" rating for the industry [1] Core Insights - The pace of wind turbine large-scale development is clearly slowing down, with a focus on hydrogen energy as a "future industry" in the 14th Five-Year Plan [1][7] - The wind power index increased by 5.91%, outperforming the CSI 300 index by 2.66 percentage points [4][12] - The overall PE ratio for the wind power index is 25.72 times [12] Summary by Sections Wind Power - The recent Beijing International Wind Energy Conference showcased few new products, with a trend towards standardizing rotor diameters rather than further increasing size [6][11] - The domestic wind turbine market is expected to stabilize, with a focus on international expansion, leading to a gradual recovery in profitability for wind turbine manufacturers by 2026 [6][11] - The wind power index's performance indicates a strong market sentiment, with a year-to-date increase of 40.03% [12][13] Photovoltaics - Tongwei's Q3 earnings showed significant improvement, with a revenue of 24.09 billion yuan, a year-on-year decrease of 1.57%, and a net loss reduction of 5.29 billion yuan [6][4] - The overall PE ratio for the photovoltaic sector is approximately 44.31 times, indicating a high valuation despite short-term supply-demand challenges [4][12] Energy Storage & Hydrogen Energy - The 14th Five-Year Plan emphasizes hydrogen energy as a key future industry, highlighting its potential for significant market growth [7] - The report suggests that the hydrogen energy sector is gaining policy support, with expectations for orderly project implementation across the entire industry chain [7] - Investment opportunities are identified in companies focusing on green hydrogen project investment and operation [7] Investment Recommendations - For wind power, the report recommends focusing on domestic offshore demand, profitability recovery, and international expansion opportunities, highlighting companies like Mingyang Smart Energy and Goldwind [7] - In photovoltaics, attention is drawn to structural opportunities within the industry, with recommended stocks including Dier Laser and Longi Green Energy [7] - In energy storage, the report suggests looking at companies with strong global competitiveness and low valuations, such as Sungrow Power Supply [7]

Investment Rating - The report maintains a "Positive" investment rating for the industry [3] Core Views - The main sectors are experiencing sustained prosperity, with energy storage demand exceeding expectations, optimistic guidance for wind energy, and a critical window for photovoltaic (PV) sector recovery [15][16] Summary by Sections 1. Photovoltaic - The "14th Five-Year Plan" emphasizes the need to address "involution" in competition, with ongoing consolidation in silicon material and energy consumption standards expected to support price stability [20][37] - Major companies like Tongwei Co. and GCL-Poly Energy are showing signs of recovery in Q3 profits, with Tongwei's revenue at CNY 24.09 billion, down 1.57% year-on-year, and GCL-Poly turning a profit of CNY 0.96 billion in Q3 [21][40] - The report recommends stocks benefiting from the anti-involution trend, including Tongwei Co., GCL-Poly, and LONGi Green Energy [15][39] 2. Energy Storage - The energy storage sector is entering a phase of increased volume and profitability, with a total of 3.45 GW/7.425 GWh of new projects announced in Sichuan [44] - The report highlights the positive outlook for large-scale storage systems and recommends leading companies like CATL and Aiko Solar [15][42] - The demand for household storage remains stable, with expectations for growth in overseas commercial storage markets [15][42] 3. Lithium Battery - The lithium battery sector is seeing an upward adjustment in demand expectations, with a focus on stable companies with price elasticity in battery and anode segments [15][16] - Key recommendations include CATL, EVE Energy, and companies involved in solid-state battery technologies [15][39] 4. Wind Energy - The wind energy sector is entering a new cycle of prosperity, with a focus on turbine and component leaders [15][16] - Companies like Goldwind and Mingyang Smart Energy are highlighted for their recovery in profitability and export potential [15][39] 5. Power Equipment - The report notes the approval of new ultra-high voltage projects and the growth of digitalization in the power grid, with recommendations for companies like Sifang Co. and XJ Electric [15][39] - The sector is expected to benefit from ongoing technological advancements and project approvals [15][39] 6. New Directions - The report emphasizes the potential in AIDC and robotics sectors, with companies like Sihai Technology and Megmeet Electric highlighted for their growth prospects [15][39] - The focus is on technological advancements and market opportunities in these emerging fields [15][39]

Investment Rating - The report maintains a "Buy" rating for key companies in the electric equipment and new energy sector, including Ningde Times, Kodali, and others, based on their strong growth potential and market positioning [7]. Core Insights - The electric equipment and new energy sector experienced a weekly increase of 4.90%, outperforming the Shanghai Composite Index, with lithium battery indices showing the highest growth at 7.05% [3]. - The report highlights the launch of multiple strategic new products by Ruipu Lanjun, covering energy storage, commercial vehicles, and passenger vehicles, showcasing the company's commitment to innovation and market expansion [4][11]. - In September, China's inverter exports reached 5.085 billion yuan, marking a year-on-year increase of 4.96%, driven by strong demand in markets like Australia [5][29]. - The total electricity consumption in China for September was 888.6 billion kWh, reflecting a year-on-year growth of 4.5%, with significant contributions from various industrial sectors [6][42]. Summary by Sections New Energy Vehicles - Ruipu Lanjun launched several strategic products in energy storage and vehicles, including a 6.25MWh energy storage system with a high efficiency of 35.5% and a 4C fast-charging battery for passenger vehicles [4][11]. - The company aims to leverage its parent company's resources and technological innovations to enhance its market position [11]. New Energy Generation - Inverter exports in September totaled 5.085 billion yuan, with a notable increase in the Australian market, which saw a year-on-year growth of 306% [5][29]. - The report also notes a significant increase in battery component exports, indicating robust demand in the international market [29]. Electric Equipment and Industrial Control - The total electricity consumption for the first nine months of 2025 reached 77,675 billion kWh, with a year-on-year growth of 4.6%, driven by industrial and residential demand [6][42]. - The report emphasizes the importance of digitalization and smart grid investments in the electric equipment sector, recommending companies involved in these areas [50][54]. Market Performance - The report indicates that the electric equipment and new energy sector is expected to continue its upward trend, supported by favorable policies and market demand [3][6].