Core Viewpoint - The global commercial energy storage market is experiencing significant growth, with China expected to see a 55.9% increase in commercial energy storage system shipments in 2025, reaching 21.2 GWh, driven by rising electricity demand and advancements in technology [1][10]. Group 1: Market Growth and Demand - In 2024, China's commercial energy storage system shipment volume is projected to be 13.6 GWh, marking a 60% year-on-year increase [1]. - The domestic market is expected to reach 13.8 GWh in 2025, a 35.3% increase, while overseas shipments are anticipated to grow by 117.6%, reaching 7.4 GWh [10]. - The CR10 concentration in the commercial energy storage sector is 68%, indicating a relatively low industry concentration due to the rapid development and numerous players in the emerging market [7]. Group 2: Product Development and Pricing - The industry is transitioning towards higher capacity and lower cost products, with the mainstream energy storage system size shifting from 215 kWh to 261 kWh, and the cell capacity moving from 280 Ah to 314 Ah, expected to exceed 70% market share by 2025 [11]. - The average price of domestic commercial energy storage systems is projected to decrease from 0.8 CNY/Wh to 0.6 CNY/Wh by 2025, with the lowest prices potentially falling below 0.5 CNY/Wh [12]. Group 3: Regional Market Insights - The European market is expected to see significant growth, with effective demand projected to exceed 4 GWh in 2025, driven by clear pricing policies and quick return on investment [13]. - In Africa, demand is rapidly increasing due to unreliable power supply, with overall demand expected to reach GWh scale [13]. - Latin America is projected to have a demand of 0.5 GWh, primarily in Chile, Mexico, and Brazil, while the Middle East is still in the exploratory phase with an estimated output of around 100 MWh [13]. Group 4: Industry Competition and Consolidation - The commercial energy storage sector is facing intensified competition, leading to the potential elimination of weaker players, thereby increasing industry concentration [14].

Group 1 - The company announced a share repurchase plan proposed by the actual controller and chairman, Zhang Hejun, with a repurchase period from April 21, 2025, to April 20, 2026 [1] - The expected repurchase amount is between 100 million yuan and 200 million yuan [1] - The repurchased shares will be used for employee stock ownership plans or equity incentives [1] Group 2 - As of now, the company has repurchased a total of 200,000 shares, accounting for 0.02% of the total share capital, with a total repurchase amount of 10.4373 million yuan [2] - The actual repurchase price ranged from 51.70 yuan per share to 52.90 yuan per share [2] - The company will strictly follow relevant regulations and guidelines during the repurchase period and will disclose information on the progress of the repurchase [2]

特此公告。 宁波德业科技股份有限公司 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4月28日召开第 三届董事会第十四次会议、第三届监事会第十二次会议，审议通过了《关于注销 意注销2022年股票期权激励计划预留授予部分第一个行权期中到期但尚未行权 的股票期权合计2.3539万份。具体情况如下： 根据《上市公司股权激励管理办法》《宁波德业科技股份有限公司2022年股 票期权激励计划（草案）》的相关规定，鉴于公司2022年股票期权激励计划预留 授予部分第一个行权期已于2024年12月19日届满，董事会决定注销预留授予部分 第一个行权期中到期但尚未行权的股票期权2.3539万份。本次注销2022年股票期 权激励计划股票期权合计2.3539万份。具体内容详见2025年4月30日公司披露于 上海证券交易所网站（www.sse.com.cn）的《关于注销2022年股票期权预留授予 部分第一个行权期到期未行权的股票期权的公告》（公告编号：2025-037）。 公司已向中国证券登 ...

根据《上市公司股权激励管理办法》《宁波德业科技股份有限公司2022年股 票期权激励计划（草案）》的相关规定，鉴于公司2022年股票期权激励计划预留 授予部分第一个行权期已于2024年12月19日届满，董事会决定注销预留授予部分 第一个行权期中到期但尚未行权的股票期权2.3539万份。本次注销2022年股票期 权激励计划股票期权合计2.3539万份。具体内容详见2025年4月30日公司披露于 上海证券交易所网站（www.sse.com.cn）的《关于注销2022年股票期权预留授予 部分第一个行权期到期未行权的股票期权的公告》（公告编号：2025-037）。 宁波德业科技股份有限公司 关于 2022 年股票期权激励计划预留授予部分第一个 行权期到期未行权的股票期权注销完成的公告 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4月28日召开第 三届董事会第十四次会议、第三届监事会第十二次会议，审议通过了《关于注销 2022年股票期权预留授予部分第一个行权期到期未行权的股 ...

证券代码：605117 证券简称：德业股份 公告编号：2025-051 宁波德业科技股份有限公司 关于 2024 年度权益分派实施后调整股份回购价格上 限和数量的公告 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： ●调整前回购价格上限：不超过人民币 130 元/股（含） ●调整后回购价格上限：不超过人民币 91 元/股（含） ●调整前回购股份数量：76.92 万股-153.85 万股（依照调整前回购价格上限 测算） ●调整后回购股份数量：109.89 万股-219.78 万股（依照调整后回购价格上 限测算） ●回购价格和数量调整起始日期：2025 年 6 月 16 日 一、回购股份的基本情况 宁波德业科技股份有限公司（以下简称"公司"）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》，同意公司使用不低于人民币 10,000 万元（含）且不超过 20,000 万元（含）的自有资金和回购专项贷款以集中竞价交易方式回购公司股份用于未 ...

Group 1: Electric Vehicles - The report anticipates a 22% year-on-year increase in domestic new energy vehicle sales in 2025, driven by policies such as trade-in incentives, new model releases, and price reductions [2][16][22] - In Europe, the electric vehicle market is expected to grow by 22% in 2025, supported by carbon emission regulations and ongoing subsidies [2][18][22] - The global demand for power batteries is projected to grow at a rate of 25% in 2025, with a significant increase in battery capacity requirements due to enhanced vehicle range [22][24] Group 2: Wind Power - The domestic wind power market is expected to see a significant increase in installed capacity, with new installations projected at 100 GW for land-based and 12 GW for offshore wind in 2025, representing year-on-year growth of 23% and 114% respectively [3][4] - Internationally, the wind power market is forecasted to grow at a CAGR of 16.7% from 2025 to 2030, driven by increased policy support [3] - The report highlights opportunities in offshore wind and related supply chains, including wind turbines, piles, and submarine cables [3] Group 3: Photovoltaics - The report expects global photovoltaic installations to reach 530-560 GW in 2025, with a year-on-year growth of 0-6%, influenced by domestic demand and emerging markets [4] - Supply-side reforms are anticipated to play a crucial role in reshaping the industry, with a key window for these reforms expected between the second half of 2025 and the first quarter of 2026 [4] - New technologies such as bifacial cells and metallization processes are highlighted as areas of interest for future growth [4] Group 4: Energy Storage - The domestic energy storage market is projected to grow by 17% year-on-year in 2025, supported by strong bidding data and the advancement of market-oriented electricity pricing [5] - In the U.S., energy storage installations are expected to increase by 23% in 2025, despite concerns over subsidy reductions [5] - The European market is forecasted to see a 36% increase in energy storage installations in 2025, with significant contributions from large-scale commercial storage [5] Group 5: Industrial Control - The industrial control sector is experiencing a recovery, with growth expected in 2025 due to increased demand from traditional and new energy industries [9] - The report emphasizes the potential of humanoid robots and AIDC (Automatic Identification and Data Capture) technologies as key areas for investment [9] - Companies involved in high-value components and new technologies, such as PEEK materials and disc motors, are recommended for attention [9]

Core Viewpoint - The Chinese photovoltaic (PV) industry is facing a critical supply-side reform, with expectations of production cuts and stricter policies to curb below-cost sales, aiming to improve industry profitability and stability [3][4][5]. Industry Summary - A significant decline was observed in the A-share market on June 19, with a total trading volume of 1.28 trillion yuan and over 4,600 stocks falling [1]. - The photovoltaic sector, particularly low-fee ETFs, experienced a downturn, with the leading ETF (516290) dropping by 1.49% [1][6]. - Major companies in the PV sector, such as 阳光电源 (Sungrow Power), 德业股份 (Deye), and 晶澳科技 (JA Solar), reported declines exceeding 3% in their stock prices [6]. Production and Policy Changes - The China Photovoltaic Industry Association held a meeting focusing on "production limits to maintain prices," indicating a projected reduction in operating rates by 10%-15% in Q3 [2][3]. - A third-party audit group will conduct comprehensive audits to identify evidence of below-cost sales, with various measures planned against non-compliant companies [2][3]. Technological Advancements - The industry is witnessing a push for supply-side reform, with leading companies advocating for market-driven consolidation and technological upgrades to phase out outdated capacities [4][5]. - New technologies, such as TOPCon and perovskite, are gaining attention, with several companies showcasing advancements in efficiency and production capabilities at the SNEC conference [5]. Market Outlook - The PV sector is expected to experience a fundamental recovery, with signs of a potential turning point in market sentiment as production cuts and technological advancements take effect [7]. - The low-fee photovoltaic ETF (516290) is highlighted as a favorable investment option, with management fees significantly lower than the market average [7].

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Group 1 - The meeting of the third Supervisory Board of Ningbo Deye Technology Co., Ltd. was held on June 18, 2025, with all necessary legal requirements met for the quorum [1] - The Supervisory Board approved the proposal to adjust the exercise price and quantity of the 2022 stock option incentive plan, confirming that the adjustments do not harm the interests of the company and all shareholders [1] - The voting results showed 2 votes in favor, 0 votes against, 0 abstentions, and 1 recusal due to a related party [1] Group 2 - The announcement includes a reference to the detailed disclosure available on the Shanghai Stock Exchange website regarding the adjustments to the stock option incentive plan [2]

证券代码：605117 证券简称：德业股份 公告编号：2025-055 宁波德业科技股份有限公司 关于调整 2022 年股票期权激励计划 行权价格及数量的公告 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 6 月 18 日召开 第三届董事会第十五次会议、第三届监事会第十三次会议，审议通过了《关于调 整 2022 年股票期权激励计划行权价格及数量的议案》。现将相关事项公告如下： 一、已履行的决策程序和信息披露情况 1、2022年7月5日，公司召开第二届董事会第十三次会议，审议通过了《宁 波德业科技股份有限公司2022年股票期权激励计划（草案）及其摘要》《宁波德 业科技股份有限公司2022年股票期权激励计划实施考核管理办法》《关于提请股 东大会授权董事会办理2022年股票期权激励计划相关事宜的议案》。公司独立董 事对此发表了独立意见。 同日，公司召开第二届监事会第十三次会议，审议通过了《宁波德业科技股 份有限公司2022年股票期权激励计划（草案）及其摘要》《宁波 ...