（文章来源：证券日报） 证券日报网讯 8月1日晚间，阿特斯发布公告称，截至2025年7月31日，公司通过上海证券交易所交易系 统以集中竞价交易方式累计回购公司股份33，912，200股，占公司总股本的比例为0.92%。 ...

Core Viewpoint - The company, Arctech (688472.SH), has announced a share buyback program, reflecting its commitment to enhancing shareholder value through strategic capital allocation [1] Summary by Relevant Sections Share Buyback Details - As of July 31, 2025, the company has repurchased a total of 33,912,200 shares, which represents 0.92% of its total share capital [1] - The highest price paid for the repurchased shares was 11.33 CNY per share, while the lowest price was 8.34 CNY per share [1] - The total amount of funds used for the buyback was 327,650,648.91 CNY, excluding transaction fees such as stamp duty and commissions [1] Compliance and Regulations - The share buyback is in accordance with legal regulations and aligns with the company's buyback plan [1]

格隆汇8月1日丨阿特斯(688472.SH)公布，截至2025年7月31日，公司通过上海证券交易所交易系统以集 中竞价交易方式累计回购公司股份33,912,200股，占公司总股本的比例为0.92%，回购成交的最高价为 11.33元/股，最低价为8.34元/股，回购使用的资金总额为人民币327,650,648.91元（不含印花税、交易佣 金等交易费用）。本次回购股份符合法律法规的规定及公司回购股份方案。 ...

一、回购股份的基本情况 2024 年 12 月 19 日，公司召开 2024 年第二次临时股东大会，审议通过《关 于以集中竞价交易方式回购公司股份的议案》，同意公司使用自有/自筹资金/首次 公开发行人民币普通股取得的超募资金/专项贷款资金以集中竞价交易方式回购公 司发行的人民币普通股（A 股），回购资金总额不低于人民币 5 亿元（含），不超 过人民币 10 亿元（含），回购价格不超过人民币 21.42 元/股（含），回购的股份将 全部用于注销并减少公司注册资本，回购股份期限自股东大会审议通过本次回购 方案之日起 12 个月内。 具体内容详见公司分别于 2024 年 11 月 30 日、2024 年 12 月 20 日在上海证 券交易所网站（http://www.sse.com.cn）披露的《阿特斯阳光电力集团股份有限 公司关于以集中竞价交易方式回购股份方案的公告》《阿特斯阳光电力集团股份有 限公司关于以集中竞价交易方式回购股份的回购报告书》。 因实施 2024 年年度权益分派，公司本次回购股份价格上限由不超过人民币 21.42 元/股（含）调整为不超过人民币 21.33 元/股（含）。具体内容详见公司于 20 ...

天眼查资料显示，扬州阿特斯太阳能电池有限公司，成立于2022年，位于扬州市，是一家以从事电气机 械和器材制造业为主的企业。企业注册资本70000万人民币。通过天眼查大数据分析，扬州阿特斯太阳 能电池有限公司参与招投标项目28次，专利信息60条，此外企业还拥有行政许可31个。 扬州阿特斯光电材料有限公司，成立于2022年，位于扬州市，是一家以从事其他制造业为主的企业。企 业注册资本10000万人民币。通过天眼查大数据分析，扬州阿特斯光电材料有限公司参与招投标项目34 次，专利信息25条，此外企业还拥有行政许可3个。 2025年8月1日国家知识产权局信息显示，扬州阿特斯太阳能电池有限公司;扬州阿特斯光电材料有限公 司申请一项名为"太阳能电池的制备方法、太阳能电池及光伏组件"的专利，公开号CN120417528A，申 请日期为2025年04月。 专利摘要显示，本申请公开了一种太阳能电池的制备方法、太阳能电池及光伏组件，制备方法包括：提 供一电池片，所述电池片的受光面和/或背光面上形成有导电浆料；对所述电池片上的导电浆料进行微 波处理，以使所述导电浆料固化。本申请通过微波处理来烘干导电浆料，能够有效避免有机物残留，从 ...

Investment Rating - The report maintains an investment rating of "Synchronize with the market-A" for the solar industry [2]. Core Viewpoints - In June, the domestic photovoltaic new installed capacity decreased by 38.4% year-on-year, influenced by the end of the rush for installation. The new installed capacity in June was 14.4GW, with a cumulative new installed capacity of 212.21GW from January to June, reflecting a year-on-year increase of 107.1% [2][13]. - The export value of photovoltaic components in June was 15.81 billion yuan, down 23.3% year-on-year and 8.7% month-on-month. The cumulative export value from January to June was 95.37 billion yuan, a decrease of 23.9% year-on-year [2][17]. - The export value of inverters in June was 6.59 billion yuan, showing a year-on-year increase of 1.2% and a month-on-month increase of 10.3%. The cumulative export value from January to June was 30.6 billion yuan, reflecting a year-on-year increase of 7.6% [3][30]. - Solar power generation in June increased by 18.3% year-on-year, with a total generation of 50.06 billion kWh, accounting for 6.29% of the total industrial power generation in the country [2][44]. Summary by Sections Installed Capacity - In June, the domestic photovoltaic new installed capacity was 14.4GW, down 38.4% year-on-year and 84.5% month-on-month. The cumulative new installed capacity from January to June was 212.21GW, up 107.1% year-on-year [13][2]. Exports - The export value of photovoltaic components in June was 15.81 billion yuan, down 23.3% year-on-year and 8.7% month-on-month. The cumulative export value from January to June was 95.37 billion yuan, down 23.9% year-on-year [17][2]. - The export value of inverters in June was 6.59 billion yuan, with a year-on-year increase of 1.2% and a month-on-month increase of 10.3%. The cumulative export value from January to June was 30.6 billion yuan, up 7.6% year-on-year [30][3]. Power Generation - In June, solar power generation was 50.06 billion kWh, reflecting an 18.3% year-on-year increase and accounting for 6.29% of the total industrial power generation in the country [44][2]. Investment Recommendations - Key recommendations include: - New technology direction: Aisuo Co., Longi Green Energy - Supply-side improvement direction: Daqian Energy, Fulete - Overseas layout direction: Hengdian East Magnet, Sunshine Power, Canadian Solar, Deye Co. - Power marketization direction: Langxin Group - Domestic substitution direction: Quartz Co. - Additional companies to actively monitor include: Xinyi Solar, GCL-Poly Energy, Tongwei Co., TCL Zhonghuan, New Special Energy, Dier Laser, Foster, Haiyou New Materials, JA Solar, Trina Solar, Jinko Solar, CITIC Bo, Maiwei Co., Jingcheng Machinery, Shanghai Ailuo, and Guangxin Materials [48][2].

Group 1 - The stock price of Arctech (688472.SH) fell by 3.56% to 8.93 yuan as of the market close on July 31, 2023, indicating that the stock is currently in a state of decline since its IPO [1] - Arctech was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on June 9, 2023, with an initial public offering (IPO) price of 11.10 yuan per share. The total number of shares issued before the full exercise of the over-allotment option was 541,058,824 shares, accounting for 15.00% of the total share capital post-issue [1] - After the full exercise of the over-allotment option, the total number of shares issued increased to 622,217,324 shares, representing 16.87% of the total share capital post-issue [1][2] Group 2 - The total amount of funds raised from the IPO was 600,575.29 million yuan before the exercise of the over-allotment option and 690,661.23 million yuan after the full exercise [1][2] - The net amount raised after deducting issuance costs was 572,782.43 million yuan before the over-allotment option and 662,845.46 million yuan after the full exercise [1][2] - The final net amount raised exceeded the original plan by 172,782.43 million yuan before the over-allotment option and 262,845.46 million yuan after the full exercise [2] Group 3 - The total issuance costs for the IPO were 27,792.86 million yuan before the over-allotment option and 27,815.77 million yuan after the full exercise, with underwriting and sponsorship fees amounting to 17,264.15 million yuan [3] - The actual controllers of Arctech are Xiaohua Qu and his spouse Han Bing Zhang, both of whom hold Canadian nationality [4]

Investment Rating - The report maintains a "Positive" investment rating for the photovoltaic industry [9] Core Insights - The current round of anti-involution in the photovoltaic sector is marked by a more mature and pragmatic approach compared to the previous round, initiated by a series of policy and corporate events starting from late June [3][6] - The government has shown increased attention and clearer communication regarding the photovoltaic industry, with higher-level officials participating in discussions and setting more stringent regulations [6][22] - Companies and industry associations are taking proactive steps to address issues, demonstrating a higher degree of consensus and commitment to compliance with pricing regulations [6][26] Summary by Sections Overview - The report highlights that the current anti-involution measures are more mature and pragmatic than previous efforts, with significant developments in both policy and corporate actions since late June [3][6] Government and Corporate Attitudes - Government officials have publicly emphasized the need to regulate low-price competition and improve product quality, with more structured meetings and discussions involving higher-level participants [6][18] - Companies have taken the initiative to propose practical solutions and have shown a stronger commitment to enforcing pricing regulations, leading to a more unified industry response [6][26] Capacity and Production Measures - The focus has shifted from quota-based production limits to a strategy of consolidating capacity, particularly in the silicon material sector, where leading companies are acquiring smaller firms to manage supply and demand effectively [6][28] Pricing Measures - The current measures extend price controls beyond just components to include silicon materials, silicon wafers, batteries, and modules, with a higher baseline price established compared to previous rounds [6][36] - Recent price increases have been observed across all segments, with silicon material prices rising significantly, indicating a recovery towards reasonable levels [7][42] Investment Opportunities - The report identifies significant investment opportunities in silicon materials and battery components, highlighting specific companies such as Tongwei Co., GCL-Poly Energy, and LONGi Green Energy as key players to watch [7][36]

Investment Rating - The report maintains an investment rating of "Synchronize with the market - A" for the electric equipment and new energy industry [1] Core Viewpoints - The report highlights the continuous upward trend in prices within the photovoltaic industry chain, driven by supply-side improvements and increasing demand [1][4] - The global photovoltaic installation forecast for 2025 has been adjusted upwards to 570-630 GW, with China's forecast also increased to 270-300 GW [4] - The report emphasizes the importance of technological advancements in humanoid robots and their potential impact on the market [3] Summary by Sections Investment Highlights - The report lists preferred stocks with ratings, including: - Aishuo Co., Ltd. (600732.SH) - Buy-B - Longi Green Energy (601012.SH) - Buy-B - Daqian Energy (688303.SH) - Buy-B - Fulete (601865.SH) - Buy-A - Hengdian East Magnet (002056.SZ) - Buy-A - Sunshine Power (300274.SZ) - Buy-A - Canadian Solar (688472.SH) - Buy-A - Deyang Co., Ltd. (605117.SH) - Buy-A - Langxin Group (300682.SZ) - Buy-B - Quartz Co., Ltd. (603688.SH) - Buy-A [2] Market Performance - The report notes that as of June 2025, the cumulative installed capacity of solar power in China reached 110 million kW, representing a year-on-year growth of 54.2% [4] - The average price of polysilicon has increased by 13.5% to 42.0 CNY/kg, while the average price of silicon wafers has also seen significant increases [5][6] Price Tracking - The report provides detailed price tracking for various components in the photovoltaic supply chain, indicating a general upward trend in prices for polysilicon, silicon wafers, battery cells, and modules [5][6][7][8] Investment Recommendations - The report recommends focusing on companies with new technology directions, supply-side improvements, overseas layouts, and domestic substitution strategies, including Aishuo Co., Ltd., Longi Green Energy, Daqian Energy, and others [9]

Core Viewpoint - The article highlights the recent patent application by three subsidiaries of Canadian Solar Inc. for a new method of manufacturing photovoltaic cells, which aims to improve production efficiency and reduce cutting time for silicon rods [1][2]. Company Overview - Canadian Solar Inc. has three subsidiaries involved in the photovoltaic industry: - **Artes Solar Power (Luoyang) Co., Ltd.**: Established in 2006, located in Luoyang, with a registered capital of 1,601.50 million RMB. The company has participated in 44 bidding projects and holds 166 patents [2]. - **Luoyang Artes Solar Technology Co., Ltd.**: Established in 2017, also located in Luoyang, with a registered capital of 20 million RMB. The company has participated in 11 bidding projects and holds 138 patents [2]. - **Suzhou Artes Sunshine Power Technology Co., Ltd.**: Established in 2006, located in Suzhou, with a registered capital of 2,027.35 million RMB. The company has invested in 16 enterprises, participated in 42 bidding projects, and holds 2,428 patents [2]. Patent Details - The patent application titled "Preparation Method of Photovoltaic Cells and Photovoltaic Cells" was filed on January 2024, with publication number CN120363357A. The method includes several steps aimed at enhancing the efficiency of silicon wafer production by optimizing the cutting process [1]. - Key parameters of the cutting process include: - Cutting line speed: 8 m/s to 38 m/s - Cutting line tension: 3.4 N to 4 N - Feed speed of the guide rail: 0.1 mm/min to 3.2 mm/min [1].