Core Viewpoint - Jiangsu CITIC Bo New Energy Technology Co., Ltd. has initiated its first share repurchase program, aiming to enhance shareholder value and support its stock price through strategic buybacks [1][2]. Summary by Sections Share Repurchase Plan - The company approved a share repurchase plan on April 15, 2025, allowing for the use of self-owned funds and/or special loans for the buyback [1]. - The repurchase price will not exceed RMB 80 per share, with a total repurchase fund amounting to no less than RMB 70 million and no more than RMB 100 million [1]. First Share Repurchase Details - The first repurchase involved 115,562 shares, representing 0.0529% of the company's total share capital of 218,515,940 shares [2]. - The highest price for the repurchased shares was RMB 48.93 per share, while the lowest was RMB 48.24 per share, with a total expenditure of RMB 5,634,319.77 (excluding transaction fees) [2]. Compliance and Disclosure - The company will adhere to relevant regulations and guidelines during the repurchase process and will disclose progress in a timely manner [2].

江苏中信博新能源科技股份有限公司（以下简称"公司"）于 2025 年 5 月 12 日通过上海证券交易所交易系统以集中竞价交易方式首次回购公司股份 115,562 股，占公司总股本 218,515,940 股的比例为 0.0529%，回购成交最高价 为 48.93 元/股，最低价为 48.24 元/股，支付的资金总额为人民币 5,634,319.77 元（不含印花税、交易佣金等交易费用）。 公司将陆续进行回购，同时严格按照相关规定及公司回购股份方案， 在回购期限内根据市场情况择机作出回购决策并予以实施，并根据回购股份事项 进展情况及时履行信息披露义务，敬请广大投资者注意投资风险。 一、回购方案的审议及实施程序 证券代码：688408 证券简称：中信博 公告编号：2025-029 江苏中信博新能源科技股份有限公司 关于以集中竞价交易方式首次回购公司股份的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 7 号——回购股份》等相关法律法规的规定，现将公司实施回购股份的进展情况 公告如下： 2025 年 5 ...

国投证券股份有限公司 关于江苏中信博新能源科技股份有限公司 向特定对象发行股票限售股上市流通的核查意见 国投证券股份有限公司（以下简称"国投证券"或"保荐机构"）作为江苏中信 博新能源科技股份有限公司（以下简称"中信博"或"公司"）2022年度向特定对象 发行股票的保荐机构，根据《证券发行上市保荐业务管理办法》《上海证券交易 所科创板股票上市规则》《科创板上市公司持续监管办法（试行）》等有关规定， 对中信博向特定对象发行股份限售股上市流通的事项进行了核查，具体情况如 下： 二、本次上市流通的限售股形成后至今公司股本数量变化情况 2024年11月19日，公司向特定对象发行A股股票完成登记后，公司总股本由 202,462,150变更为218,515,940股。具体内容详见公司于2024年11月21日在上海证 券交易所网站（www.sse.com.cn）披露的《江苏中信博新能源科技股份有限公司 1 关于向特定对象发行A股股票发行结果暨股本变动的公告》(公告编号： 2024-055)。 本次上市流通的限售股形成后至本核查意见出具日，公司未发生因分配股票 股利、资本公积金转增导致股本数量变化的情况。 三、本次上市流通的 ...

证券代码：688408 证券简称：中信博 公告编号：2025-027 江苏中信博新能源科技股份有限公司 2024年年度股东大会决议公告 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。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 5 月 8 日 （二） 股东大会召开的地点：公司会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 207 | | --- | --- | | 普通股股东人数 | 207 | | 2、出席会议的股东所持有的表决权数量 | 106,755,533 | | 普通股股东所持有表决权数量 | 106,755,533 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 49.1381 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 49.1381 | （四） 表决方式是否符合《公司法》及公司章 ...

北京海润天睿律师事务所 关于江苏中信博新能源科技股份有限公司 2024 年年度股东大会的 法律意见书 二〇二五年五月 见证意见 北京海润天睿律师事务所 关于江苏中信博新能源科技股份有限公司 2024 年年度股东大会的法律意见书 致：江苏中信博新能源科技股份有限公司 根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和 国证券法》《上市公司股东会规则》等有关法律法规、规范性文件及《江苏中信 博新能源科技股份有限公司章程》（以下简称《公司章程》）的规定，北京海润 天睿律师事务所接受江苏中信博新能源科技股份有限公司（以下简称公司）的委 托，指派律师出席并见证公司于 2025 年 5 月 8 日召开的 2024 年年度股东大会。 本法律意见书仅就本次股东大会的召集和召开程序、会议召集人和出席人员 资格、会议表决程序和表决结果的合法有效性发表意见，并不对股东大会所审议 的议案内容和该等议案中所表述的事实和数据的真实性和准确性发表意见。 中国·北京 朝阳区建外大街甲 14 号广播大厦 5、9、10、13、17 层 邮政编码：100022 电话(Tel)：86-10-65219696 传真(Fax)：86-1 ...

证券代码：688408 证券简称：中信博 公告编号：2025-028 本次股票上市流通日期为2025 年 5 月 19 日。 一、本次上市流通的限售股类型 根据中国证券监督委员会于 2024 年 9 月 2 日出具的《关于同意江苏中信博新 能源科技股份有限公司向特定对象发行股票注册的批复》（证监许可〔2024〕1236 号），同意江苏中信博新能源科技股份有限公司（以下简称"公司"）向特定对象 发行股票的注册申请。公司本次向特定对象发行股票 16,053,790 股，新增股份已 于 2024 年 11 月 19 日在中国证券登记结算有限责任公司上海分公司办理完毕股份 登记、托管及限售手续。发行完成后，公司总股本由 202,462,150 股增加至 218,515,940 股，其中限售流通股数量为 16,131,270 股，非限售流通股数量为 202,384,670 股。 江苏中信博新能源科技股份有限公司 向特定对象发行股票限售股上市流通公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为向 ...

Group 1 - The company has filed a lawsuit against China Railway Signal & Communication Corporation Tianjin Engineering Branch and China Railway Signal & Communication Corporation for a contract dispute regarding unpaid amounts totaling RMB 17,106,594 and interest of RMB 632,801.42 [3][6][7] - The lawsuit has been accepted by the Tianjin Hebei District People's Court, and the case is currently in the stage of being accepted but has not yet gone to trial [2][4] - The company has made provisions for bad debts related to the receivables from the defendants, which may positively or negatively impact the company's profits depending on the outcome of the lawsuit [10][2] Group 2 - The company has initiated a share repurchase plan with a total budget between RMB 10 million and RMB 20 million, with a maximum repurchase price of RMB 36.77 per share [13][14] - As of April 30, 2025, the company has repurchased 413,900 shares, representing 0.6271% of the total share capital, at an average price between RMB 22.16 and RMB 22.86 per share, totaling approximately RMB 9.39 million [14][12] - The repurchase is intended for future employee stock ownership plans or equity incentives, and the company will continue to disclose progress in accordance with regulations [15][16]

Group 1 - Major shareholders of *ST WanFang plan to reduce their holdings by up to 9,341,596 shares, accounting for 3% of the company's total share capital from May 27 to August 25, 2025 [1] - Shareholders of Airo Energy intend to reduce their holdings by up to 800,000 shares, 800,000 shares, and 1,600,000 shares, representing 0.50%, 0.50%, and 1% of the company's total share capital respectively during the same period [1] - Anner plans to reduce its holdings by up to 3,186,159 shares, which is 1.5% of the company's total share capital, from May 27 to August 26, 2025 [1] Group 2 - Shareholders of Chuhuan Technology plan to reduce their holdings by up to 2,395,605 shares, accounting for 3% of the total share capital excluding repurchased shares from May 27 to August 26, 2025 [1] - Major shareholder of Dalian Technology intends to reduce their holdings by up to 4,189,336 shares, which is 0.99% of the company's total share capital from May 27 to August 26, 2025 [2] - Dongwei Technology's board members plan to reduce their holdings by a total of 2,574,857 shares, representing 0.8629% of the company's total share capital during the same period [2] Group 3 - Gann Li Pharmaceutical's shareholder has completed a reduction of 6,010,622 shares, which is 1% of the company's total share capital from April 22 to April 30, 2025 [2] - Guanshi Technology's board members plan to reduce their holdings by up to 359,375 shares, accounting for 0.4891% of the company's total share capital from May 27 to August 26, 2025 [2] - Guoguang Electric's shareholder has completed a reduction of 1,625,751 shares, which is 1.5% of the company's total share capital from April 25 to April 30, 2025 [2] Group 4 - Haili Biological's major shareholder has completed a reduction of 13,113,244 shares, representing 2% of the company's total share capital from April 15 to April 22, 2025 [3] - Hengfeng Information's board member has completed a reduction of 198,717 shares, which is 0.1207% of the company's total share capital on April 28, 2025 [3] - Hongwei Technology's shareholder plans to reduce their holdings by up to 820,000 shares, accounting for 0.39% of the company's total share capital from May 12 to August 11, 2025 [3] Group 5 - Huatai Medical's vice president has completed a reduction of 29,943 shares, which is 0.0308% of the company's total share capital from April 28 to April 29, 2025 [4] - Jilin Carbon Valley's major shareholder has completed a reduction of 4,989,160 shares, representing 0.8490% of the company's total share capital from April 25 to April 29, 2025 [4] - Jiahua Technology's shareholder plans to reduce their holdings by up to 1,160,000 shares, accounting for 1.50% of the company's total share capital from May 28 to August 25, 2025 [4] Group 6 - Jiangbo Long's shareholder plans to reduce their holdings by up to 4,159,815 shares, which is 1% of the company's total share capital from May 27 to August 26, 2025 [5] - Jiangshan Co. plans to reduce its holdings in Jiangtian Chemical by 4,330,800 shares, accounting for 3% of its total share capital from May 27 to August 26, 2025 [5] - Kairun Co.'s major shareholder plans to reduce their holdings by up to 9,000,000 shares, representing 2.43% of the total share capital excluding repurchased shares from May 27 to August 26, 2025 [5] Group 7 - Lianqi Technology's shareholders plan to reduce their holdings by a total of 18,717,374 shares, which is 2.96% of the total share capital excluding repurchased shares from May 27 to August 26, 2025 [9] - Zhongke Information's board members have completed a reduction of 698,914 shares, representing 0.2358% of the company's total share capital [9] - Zhongshi Co.'s major shareholder plans to reduce their holdings by up to 1,800,000 shares, accounting for 1.1527% of the company's total share capital from May 27 to August 26, 2025 [10]

Investment Rating - The report maintains a "Buy" rating for the company [6][7]. Core Views - The company reported a revenue of 1.559 billion yuan in Q1 2025, a year-on-year decrease of 14%, and a net profit attributable to shareholders of 110 million yuan, down 28% year-on-year [2][4]. - The company has a strong order backlog of 7.4 billion yuan at the end of Q1, which represents a quarter-on-quarter increase of 2.75 billion yuan, indicating good signing progress and a promising outlook for Q2 and Q3 [11]. - The company is expected to achieve a net profit of 900 million yuan in 2025, corresponding to a valuation of only 11 times [6]. Summary by Sections Financial Performance - Q1 revenue was 1.559 billion yuan, down 14% year-on-year; net profit was 110 million yuan, down 28% year-on-year [2][4]. - The gross margin for Q1 was 18.90%, with a period expense ratio of 12.31%, which increased by 2.74 percentage points year-on-year and 5.56 percentage points quarter-on-quarter [11]. - The company recorded asset impairment losses of 26 million yuan and a credit impairment reversal of 35 million yuan [11]. Order Backlog and Market Position - The order backlog at the end of Q1 was 7.4 billion yuan, with significant contributions from tracking brackets (5.2 billion yuan) and fixed brackets (1.9 billion yuan) [11]. - The company benefits from a strong position in the Middle East and Indian markets, capitalizing on the surge in demand for ground power stations [11]. Future Outlook - The company is expected to see high growth in performance supported by a robust order backlog and effective localization strategies [11]. - The penetration rate of tracking brackets is anticipated to continue improving, alongside cost reduction and efficiency enhancement measures [11]. - The investment in a zero-carbon headquarters project aims to enhance the company's capabilities in "tracking+" and "green electricity+" system solutions [11].

Group 1: Wind Power Industry - The wind power industry in China is experiencing a recovery in performance from Q4 2024 to Q1 2025, with some companies exceeding expectations [3] - In 2024, 23 A-share wind power companies reported a total revenue of 225.15 billion yuan and a net profit of 13.24 billion yuan, showing a revenue increase of 4.39% but a net profit decline of 12.70% year-on-year [3] - In Q1 2025, these companies achieved a total revenue of 47.58 billion yuan and a net profit of 4.22 billion yuan, indicating growth compared to Q1 2024 [3] - Goldwind Technology reported a revenue of 9.47 billion yuan in Q1 2025, a 35.72% increase year-on-year, and a net profit of 568 million yuan, up 70.84% [4] - The recovery in wind turbine prices and expansion into overseas markets have positively impacted the performance of wind power manufacturers [4][6] Group 2: Solar Power Industry - The solar power industry faced significant challenges in 2024, with 110 A-share solar companies reporting a total revenue of approximately 1.38 trillion yuan, a decrease of 17.96% year-on-year, and a net profit of approximately -363 million yuan, a decline of 100.25% [8] - In Q1 2025, these companies reported a total revenue of 279.14 billion yuan, with a net profit of approximately 4.74 billion yuan, indicating a significant drop compared to Q1 2024 [8] - Major integrated solar companies like TCL Zhonghuan, Longi Green Energy, and Tongwei reported substantial losses, with net profits of -9.82 billion yuan, -8.62 billion yuan, and -7.04 billion yuan respectively [8] - Despite the overall downturn, companies involved in solar energy storage have shown resilience, with notable performances from companies like Sungrow Power and Canadian Solar [9] Group 3: Energy Storage Industry - The energy storage industry saw a decline in overall performance in 2024, with 21 A-share companies reporting a total revenue of 682.1 billion yuan, a decrease of 3.59%, and a net profit of 74.54 billion yuan, down 21.4% year-on-year [12] - In Q1 2025, these companies reported a total revenue of 158.07 billion yuan, a year-on-year increase of 12.39%, and a net profit of 21.03 billion yuan, up 34% [13] - The profitability in the energy storage sector is increasingly concentrated among leading companies like CATL and Sungrow, which have reported significant profit increases [13] - The energy storage market is undergoing transformation, with a shift in focus from domestic to overseas markets for higher profit margins [14][15]