Investment Rating - The report maintains a "Buy" rating for several companies in the solar energy sector, with specific ratings of "Buy-A" and "Buy-B" assigned to various stocks [1]. Core Insights - In October 2025, the domestic solar photovoltaic (PV) new installed capacity decreased by 38.3% year-on-year, while the cumulative installed capacity from January to October increased by 39.5% year-on-year [2][12]. - The export value of solar modules in October was 16.08 billion yuan, showing a year-on-year increase of 4.9% but a month-on-month decrease of 19.5% [2][15]. - The inverter export value in October was 4.82 billion yuan, reflecting a year-on-year growth of 3.4% but a month-on-month decline of 5.2% [3][25]. - Solar power generation in October increased by 5.9% year-on-year, accounting for 4.77% of the total national power generation [4][38]. Summary by Sections Domestic Solar New Installed Capacity - In October 2025, the new installed capacity was 12.6 GW, down 38.3% year-on-year but up 30.4% month-on-month. The cumulative installed capacity from January to October reached 252.87 GW [2][12]. Export Data - Solar module exports in October totaled 16.08 billion yuan, with a year-on-year increase of 4.9% and a month-on-month decrease of 19.5%. Cumulative exports from January to October were 168.26 billion yuan, down 11.8% year-on-year [2][15]. - Inverter exports in October were valued at 4.82 billion yuan, with a year-on-year increase of 3.4% and a month-on-month decrease of 5.2%. Cumulative inverter exports from January to October reached 53.31 billion yuan, up 7.2% year-on-year [3][25]. Solar Power Generation - The solar power generation in October was 39.37 billion kWh, representing a year-on-year growth of 5.9% and a slight decrease in its share of total power generation [4][38]. Investment Recommendations - The report recommends focusing on companies such as Aishuo Co., Longi Green Energy, and Daqian Energy for new technology and supply-side directions. It also highlights companies like Haibo Sichuang and Sunshine Power for energy storage, and suggests attention to various other companies in the solar sector [4][42].

新疆大全新能源股份有限公司 2025 年第二次临时股东会会议资料 2025 年第二次临时股东会 会议资料 2025 年 12 月 | . | œ | | | --- | --- | --- | | | œ | | | | | 证券代码：688303 证券简称：大全能源 新疆大全新能源股份有限公司 新疆大全新能源股份有限公司 2025 年第二次临时股东会会议资料 新疆大全新能源股份有限公司 2025 年第二次临时股东会会议须知 为维护广大投资者的合法权益，确保股东在本次股东会期间依法行使权利， 根据《中华人民共和国公司法》、中国证券监督管理委员会颁布的《上市公司 股东会规则》和公司制定的《股东会议事规则》等有关规定，特制定本会议须 知： 一、公司负责本次股东会的议程安排和会务工作，为确认出席会议的股东 或其代理人或其他出席者的出席资格，会议工作人员将对出席会议者的身份进 行必要的核对工作，请被核对者给予配合。 二、出席现场会议的股东及股东代理人须在会议召开前半小时到会议现场 办理签到手续，并按规定出示身份证明文件或营业执照/注册证书复印件（加盖 公章）、授权委托书等，上述登记材料均需提供复印件一份，个人登记材料 ...

Core Viewpoint - Daqo Energy has adjusted its production plan based on current product prices and market trends, expecting a polysilicon output of 39,500 to 42,500 tons in Q4, which will enhance scale efficiency and optimize unit costs [1] Group 1: Production and Cost Management - The company anticipates an increase in polysilicon production to between 39,500 tons and 42,500 tons in the fourth quarter [1] - The increase in production is expected to lead to scale benefits and a reduction in fixed costs per unit, further optimizing unit costs [1] Group 2: Industry Standards and Policy - On September 16, the National Standardization Management Committee released a draft for public consultation on energy consumption limits for polysilicon and germanium products [1] - Daqo Energy stated that the standard revision aligns with industry technological development and national industrial policy, providing a scientific and advanced technical standard basis for industry optimization and transformation [1] - The new standards are significant for guiding innovation and promoting a healthy competitive landscape in the photovoltaic industry, ensuring sustainable high-quality development [1] Group 3: Market Outlook - The company projects a steady growth trend in global photovoltaic installation demand by 2026 [1] - The domestic market is shifting its focus from scale expansion to high-quality development, while overseas market demand remains stable with a slight increase [1]

Core Viewpoint - Daqo Energy announced on its interactive platform that it will disclose the number of shareholders at specific points in time in its regular reports to ensure all investors receive information fairly and promptly [1] Group 1 - Daqo Energy aims to enhance transparency for investors by providing timely updates on shareholder numbers [1]

证券代码：688303 证券简称：大全能源 公告编号：2025-053 新疆大全新能源股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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法律责任。 重要内容提示： 2025 年 4 月 21 日，新疆大全新能源股份有限公司（以下简称"公司"）召开 第三届董事会第十七次会议，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以集中竞价交易方式回购公司股份。本次 回购资金总额不低于人民币 5,000 万元（含）且不超过人民币 10,000 万元（含）， 回购的股份将在未来适宜时机全部用于员工持股计划或股权激励，回购价格不超 过人民币 44.00 元/股（含），回购期限为自董事会审议通过本次回购股份方案之 日起不超过 12 个月。 具 体 内 容 详 见 公 司 于 2025 年 4 月 23 日 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《新疆大全新能源股份有限公司关于以集中竞价交易 方式回购公司股份的回购报告书》（公 ...

Group 1 - The company announced a share repurchase plan approved by the board on April 21, 2025, with a total funding amount of 50 million to 100 million yuan [1] - The repurchase is intended for employee stock ownership plans or equity incentives, with a repurchase period ending on April 20, 2026 [1] - As of November 30, 2025, the company has repurchased a total of 15,323 shares, accounting for 0.0007% of the total share capital, with a total expenditure of 290,753.82 yuan and a repurchase price range of 18.79 to 19.12 yuan per share [1]

Investment Rating - The report maintains an investment rating of "Synchronize with the market - A" for the power equipment and new energy industry [1] Core Viewpoints - The power equipment and new energy industry has shown significant market performance over the past year, with a focus on enhancing the utilization of renewable energy through new pricing mechanisms [1][4] - The report highlights the recent order of 143 million yuan received by UBTECH for humanoid robots, indicating strong demand in the robotics sector [3] - The National Development and Reform Commission (NDRC) is actively addressing issues of price disorder in certain industries, which may impact market dynamics [3] Summary by Relevant Sections Market Performance - The power equipment and new energy industry has experienced notable developments, including the introduction of new pricing methods aimed at promoting renewable energy consumption [4] Company Orders - UBTECH's total order amount for humanoid robots in 2025 has reached 1.3 billion yuan, showcasing robust growth in this segment [3] Pricing Trends - The report provides insights into the pricing of polysilicon, silicon wafers, battery cells, and modules, indicating stability in polysilicon prices and a downward trend in silicon wafer and battery cell prices due to high inventory levels [5][7][8] Investment Recommendations - The report recommends several companies for investment based on their strategic positioning in the industry, including Aikang Co., Longi Green Energy, and Daqo New Energy, among others [6][9]

证券代码：688303 证券简称：大全能源 公告编号：2025-051 新疆大全新能源股份有限公司 关于续聘德勤华永会计师事务所（特殊普通合伙）为 公司 2025 年度审计机构的公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要提示： 新疆大全新能源股份有限公司（以下简称"公司"或"大全能源"）拟聘任德 勤华永会计师事务所（特殊普通合伙）（以下简称"德勤华永"）为公司 2025 年财 务报告审计及内部控制审计机构。 一、拟聘任会计师事务所的基本情况 （一）机构信息 1、基本信息 德勤华永会计师事务所（特殊普通合伙）的前身是 1993 年 2 月成立的沪江德 勤会计师事务所有限公司，于 2002 年更名为德勤华永会计师事务所有限公司，于 2012 年 9 月经财政部等部门批准转制成为特殊普通合伙企业。德勤华永注册地址 为上海市黄浦区延安东路 222 号 30 楼。 德勤华永具有财政部批准的会计师事务所执业证书，并经财政部、中国证监 会批准，获准从事 H 股企业审计业务。德勤华永已根据财政部和中国证监会《会 计师事务所从 ...

证券代码：688303 证券简称：大全能源 公告编号：2025-052 新疆大全新能源股份有限公司 关于召开2025年第二次临时股东会的通知 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 一、 召开会议的基本情况 （一） 股东会类型和届次 2025年第二次临时股东会 召开日期时间：2025 年 12 月 15 日 14 点 00 分 召开地点：上海市浦东新区张杨路 838 号华都大厦 29 层 A/J 座会议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 12 月 15 日 至2025 年 12 月 15 日 （七） 涉及公开征集股东投票权 不适用 二、 会议审议事项 本次股东会审议议案及投票股东类型 | 序号 | | 议案名称 | 投票股东类型 | | --- | --- | --- | --- | | | | | 股股东 A | | 非累积投票议案 | | | | | 1 | 关于续聘德勤华永会计师事务所（特殊普通合 | ...

证券代码：688303 证券简称：大全能源 公告编号：2025-050 新疆大全新能源股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要提示： 投资者可于 2025 年 11 月 28 日（星期五）至 12 月 04 日（星期四）登录上证 路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 dqir@daqo.com 进行 提问。公司将在说明会上对投资者普遍关注的问题进行回答。 新疆大全新能源股份有限公司（以下简称"公司"）已于 2025 年 10 月 28 日 发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 12 月 05 日(星期五) 11:00-12:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 （三）会议召开方式：上证路演中心网络互动 三、参加人员 公司出席本次说明会的人员：董事兼总经理朱文刚先生；董事、董事会秘书 孙 ...