智通财经APP讯，阿特斯(688472.SH)发布公告，公司控股股东CSIQ2025年第四季度预计总收入在13亿 至15亿美元(折合人民币约92.4亿至106.7亿元)之间，毛利率预计在14%至16%之间。CSIQ2025年四季度 预计组件出货量在4.6至4.8吉瓦之间，预计储能系统出货量在2.1至2.3吉瓦时之间。预计2026年全年，组 件出货量在25至30吉瓦之间，储能系统出货量在14至17吉瓦时之间。 截至2025年10月31日，CSIQ旗下阿特斯储能科技(e-STORAGE)已签署合同的在手订单(包括签约长期服 务协议)金额31亿美元(折合人民币约220.4亿元)。 CSIQ2025年第三季度实现组件出货量5.1吉瓦。2025年第三季度收入15亿美元(折合人民币约106.8亿 元)，毛利率为17.2%。 ...

人民财讯11月13日电，阿特斯(688472)11月13日公告，公司控股股东阿特斯集团(股票代码CSIQ，简 称"CSIQ")2025年第四季度预计总收入在13亿至15亿美元(折合人民币约92.4亿至106.7亿元)之间，毛利 率预计在14%至16%之间。 CSIQ2025年四季度预计组件出货量在4.6至4.8吉瓦之间，预计储能系统出货量在2.1至2.3吉瓦时之间。 预计2026年全年，组件出货量在25至30吉瓦之间，储能系统出货量在14至17吉瓦时之间。 ...

Core Viewpoint - The company, CSIQ, expects significant revenue growth and component shipment increases in the coming years, indicating a positive outlook for its operations and market demand [1] Financial Projections - CSIQ anticipates total revenue for Q4 2025 to be between $1.3 billion and $1.5 billion, equivalent to approximately RMB 9.24 billion to RMB 10.67 billion [1] - The expected gross margin for the same period is projected to be between 14% and 16% [1] Shipment Expectations - The company forecasts component shipments to range from 4.6 to 4.8 gigawatts (GW) and energy storage system shipments to be between 2.1 to 2.3 gigawatt-hours (GWh) for Q4 2025 [1] - For the entire year of 2026, CSIQ projects component shipments to be between 25 to 30 GW and energy storage system shipments to be between 14 to 17 GWh [1] Order Backlog - As of October 31, 2025, CSIQ's subsidiary, Arctech Energy Storage (e-STORAGE), has signed contracts with a backlog amounting to $3.1 billion, which is approximately RMB 22.04 billion [1]

Core Insights - The controlling shareholder CSIQ reported its Q3 2025 performance and future business outlook on November 13, 2023 [1] - CSIQ directly holds 62.24% of the company's shares as of the end of Q3 2025 [1] Financial Performance - In Q3 2025, CSIQ generated revenue of $1.5 billion (approximately 10.68 billion yuan) with a gross margin of 17.2% [1] - The revenue from the company accounted for over 90% of CSIQ's total revenue in Q3 [1] Future Projections - CSIQ expects total revenue for Q4 2025 to be between $1.3 billion and $1.5 billion (approximately 9.24 billion to 10.67 billion yuan), with a gross margin of 14% to 16% [1] - Projected component shipments for Q4 2025 are between 4.6 and 4.8 gigawatts, while energy storage system shipments are expected to be between 2.1 and 2.3 gigawatt-hours [1] - For 2026, CSIQ anticipates component shipments of 25 to 30 gigawatts and energy storage system shipments of 14 to 17 gigawatt-hours [1] Order Backlog - As of October 31, 2023, CSIQ has an order backlog valued at $3.1 billion (approximately 22.04 billion yuan) [1]

Market Overview - The net inflow of main funds in the Shanghai and Shenzhen markets reached 24.471 billion yuan, with the Sci-Tech Innovation Board experiencing a net outflow of 0.782 billion yuan [1] - A total of 235 stocks saw net inflows, while 357 stocks experienced net outflows [1] Sci-Tech Innovation Board Performance - On the Sci-Tech Innovation Board, 419 stocks rose, with three stocks, including Kangpeng Technology and Huasheng Lithium Battery, hitting the daily limit [1] - 165 stocks declined in value [1] Fund Flow Analysis - Among the stocks with net inflows, five stocks had inflows exceeding 100 million yuan, with SMIC leading at 421 million yuan [1][2] - Other notable inflows included Haibo Sichuang at 281 million yuan and Changguang Huaxin at 166 million yuan [1][2] - The stock with the highest net outflow was Aters, which saw a net outflow of 454 million yuan, followed by Tuojing Technology and Yuanjie Technology with outflows of 221 million yuan and 185 million yuan, respectively [1] Continuous Fund Inflow and Outflow - A total of 47 stocks experienced continuous net inflows for more than three trading days, with Jiuquan Technology leading at 11 consecutive days [2] - Conversely, 140 stocks had continuous net outflows, with Zhixiang Jintai experiencing the longest streak at 13 days [2] Top Stocks by Net Inflow - The top stocks by net inflow included: - SMIC: 420.87 million yuan, with a flow rate of 6.34% and a price increase of 2.90% [2] - Haibo Sichuang: 281.31 million yuan, with a flow rate of 9.80% and a price increase of 20.00% [2] - Changguang Huaxin: 166.15 million yuan, with a flow rate of 9.85% and a price increase of 9.60% [2] Stocks with Significant Outflows - The stocks with the largest net outflows included: - Aters: 454 million yuan, with a price decrease of 0.15% [1] - Tuojing Technology: 221 million yuan [1] - Yuanjie Technology: 185 million yuan [1]

资金面上看，两市主力资金全天净流入244.71亿元，今日有16个行业主力资金净流入，电力设备行业主 力资金净流入规模居首，该行业今日上涨4.31%，全天净流入资金114.78亿元，其次是有色金属行业， 日涨幅为4.01%，净流入资金为91.99亿元。 主力资金净流出的行业有15个，公用事业行业主力资金净流出规模居首，全天净流出资金15.34亿元， 其次是建筑装饰行业，净流出资金为9.93亿元，净流出资金较多的还有家用电器、医药生物、石油石化 等行业。 电力设备行业今日上涨4.31%，全天主力资金净流入114.78亿元，该行业所属的个股共364只，今日上涨 的有285只，涨停的有15只；下跌的有71只。以资金流向数据进行统计，该行业资金净流入的个股有189 只，其中，净流入资金超亿元的有36只，净流入资金居首的是宁德时代，今日净流入资金26.22亿元， 紧随其后的是天赐材料、恩捷股份，净流入资金分别为17.49亿元、5.98亿元。电力设备行业资金净流出 个股中，资金净流出超亿元的有10只，净流出资金居前的有阿特斯、天际股份、捷佳伟创，净流出资金 分别为4.54亿元、2.68亿元、2.58亿元。（数据宝） 电力设 ...

Market Overview - On November 13, the Shanghai Composite Index rose by 0.73%, the Shenzhen Component Index increased by 1.78%, the ChiNext Index climbed by 2.55%, and the CSI 300 Index gained 1.21% [1] - Among the tradable A-shares, 3,953 stocks rose, accounting for 72.67%, while 1,338 stocks declined [1] Capital Flow - The net inflow of main funds reached 24.471 billion yuan for the day [1] - The ChiNext saw a net inflow of 5.669 billion yuan, while the STAR Market experienced a net outflow of 0.782 billion yuan [1] - The CSI 300 constituent stocks had a net inflow of 11.198 billion yuan [1] Industry Performance - Out of the 27 first-level industries classified by Shenwan, the top-performing sectors were Electric Equipment and Nonferrous Metals, with increases of 4.31% and 4.01%, respectively [1] - The sectors with the largest declines were Utilities and Communication, with decreases of 0.27% and 0.21% [1] Industry Capital Flow - The Electric Equipment industry led with a net inflow of 11.478 billion yuan and a daily increase of 4.31% [1] - The Nonferrous Metals industry followed with a net inflow of 9.199 billion yuan and a daily increase of 4.01% [1] - The Utilities sector had the largest net outflow, totaling 1.534 billion yuan, with a daily decline of 0.27% [1] Individual Stock Performance - A total of 2,116 stocks experienced net inflows, with 908 stocks having inflows exceeding 10 million yuan [2] - The stock with the highest net inflow was CATL, which rose by 7.56% with a net inflow of 2.622 billion yuan [2] - Other notable stocks with significant inflows included Zhaoyi Innovation and InvoTech, with net inflows of 2.245 billion yuan and 1.788 billion yuan, respectively [2] - Conversely, 85 stocks saw net outflows exceeding 100 million yuan, with the largest outflows from Shannon Chip, Shanghai Electric, and Canadian Solar, totaling 799 million yuan, 516 million yuan, and 454 million yuan, respectively [2]

Core Viewpoint - The photovoltaic sector experienced a significant drop due to rumors regarding the cancellation of a storage platform, leading to a collective decline in major stocks such as Canadian Solar and JA Solar, which fell over 6% [1][2]. Group 1: Market Reaction - The photovoltaic sector was already fragile, and any minor disturbance could trigger panic selling, as evidenced by the sharp decline following the rumors [2]. - Major stocks like Canadian Solar saw a drop of over 14%, while JA Solar, LONGi Green Energy, and others fell more than 6% [2]. - The photovoltaic ETF also experienced a decline of over 5%, indicating widespread market panic [2]. Group 2: Rumor and Response - The rumors included claims that a silicon material and component alliance was rejected by authorities and that JA Solar's secretary claimed the storage platform was "dead" [2]. - In response, JA Solar denied the rumors, stating that no such comments were made by executives and emphasized their commitment to supporting the photovoltaic industry's policies [3]. - The China Photovoltaic Industry Association also issued a statement declaring the rumors as false and warned against malicious actions aimed at undermining the industry [3]. Group 3: Importance of Storage Platform - The storage platform is considered a crucial measure for the photovoltaic industry's "anti-involution" strategy, aimed at stabilizing the market [4]. - A proposed joint storage platform involving major companies is in the planning stages, with an estimated fund size of around 70 billion yuan [4]. - The initiative aims to control production by acquiring smaller production lines, which is seen as essential for the recovery of the photovoltaic supply chain [4]. Group 4: Industry Performance and Challenges - The photovoltaic industry is facing significant operational challenges, with a clear divergence in profitability across the supply chain [5]. - JA Solar reported a 24.05% year-on-year decline in revenue for Q3 2025, with a net loss of 11.65 billion yuan, reflecting the struggles of the downstream sector [5]. - In contrast, LONGi Green Energy showed signs of improvement, with a revenue of 509.15 billion yuan for the first nine months of the year, indicating a potential recovery [5]. Group 5: Market Sentiment and Future Outlook - The recent market reaction highlights the industry's sensitivity to policy changes and rumors, reflecting broader concerns about the implementation of the "anti-involution" policies [6]. - The stability of silicon prices and the ability to pass costs down the supply chain are critical factors for the industry's recovery [6]. - The overall market remains under pressure due to high inventory levels and concerns about the balance of interests between upstream and downstream sectors [6].

Market Overview - The A-share market experienced a strong upward trend, with the Shanghai Composite Index rising by 0.73%, reaching a ten-year high, while the Shenzhen Component Index increased by 1.78% and the ChiNext Index rose by 2.55% [3][4]. Sector Performance - The lithium battery sector saw a collective surge, with companies like Ningde Times rising over 7%, and nearly 30 stocks, including Kangpeng Technology, Tianci Materials, and Enjie Co., hitting the daily limit [4][5]. - The photovoltaic inverter concept also rebounded strongly, alongside significant gains in the chemical, non-ferrous metals, and electrical grid sectors [4]. Regional Performance - The Fujian sector continued to rise, with over ten stocks, including Longzhou Co., XGMA Co., and China Wuyi, reaching the daily limit [6]. Capital Flow - Main capital flows showed a net inflow into the battery, non-ferrous metals, and semiconductor sectors, while there was a net outflow from electronic components, securities, and electric power sectors. Notably, Ningde Times, Zhaoyi Innovation, and Yingwei Technology saw net inflows of 2.655 billion, 1.808 billion, and 1.686 billion respectively [9]. - Conversely, companies like Xiangshan Chip, Shanghai Electric, and Canadian Solar experienced net outflows of 849 million, 485 million, and 469 million respectively [9]. Institutional Insights - Dongguan Securities noted that the market is at a critical point of style switching, with policy support and liquidity easing providing backing for the market [11]. - Galaxy Securities highlighted that the mid-term dividend strength of banks remains robust, emphasizing the ongoing value of the banking sector [12].

Market Performance - The A-share market experienced a strong upward trend on November 13, with the Shanghai Composite Index rising by 0.73%, reaching a ten-year high, while the Shenzhen Component Index increased by 1.78% and the ChiNext Index rose by 2.55% [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 2.04 trillion yuan, an increase of 969 billion yuan compared to the previous trading day, with nearly 4,000 stocks rising across the market [1][2] Sector Performance - The lithium battery industry chain saw a significant surge, with CATL (Contemporary Amperex Technology Co., Limited) rising over 7%. Other sectors such as photovoltaic inverters, chemicals, non-ferrous metals, and electrical grid also showed strong gains [2] - Specific stocks in the lithium battery sector, including Kangpeng Technology, Tianci Materials, and Enjie Co., saw nearly 30 stocks hitting the daily limit up [2] Capital Flow - Main capital inflows were observed in the battery, non-ferrous metals, and semiconductor sectors, while there were net outflows from electronic components, securities, and electric power sectors [4] - Notable net inflows included 2.655 billion yuan into CATL, 1.808 billion yuan into Zhaoyi Innovation, and 1.686 billion yuan into InvoTech [4] Institutional Insights - Dongguan Securities indicated that the market is at a critical point of style switching, with policy support and liquidity easing providing backing for the market trend [5] - Galaxy Securities noted that the mid-term dividend strength of banks remains strong, highlighting the ongoing value of the banking sector [5]