Group 1 - The core viewpoint of the article highlights the growth in China's solar cell production, with a reported output of 66.38 million kilowatts in July 2025, representing a year-on-year increase of 16% [1] - Cumulative production from January to July 2025 reached 473.964 million kilowatts, showing a cumulative growth of 19.6% [1] - The article references a report by Zhiyan Consulting, which provides insights into the competitive landscape and investment recommendations for the solar cell industry in China from 2025 to 2031 [1] Group 2 - Listed companies in the solar energy sector include Longi Green Energy, Tongwei Co., Sunshine Power, JA Solar, Trina Solar, TBEA, Chint Electric, and TCL Zhonghuan [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research reports and tailored consulting services [2]

2025 年第五次临时股东会会议材料 2025 年 10 月 天合光能股份有限公司 2025 年第五次临时股东会会议材料 天合光能股份有限公司 2025 年第五次临时股东会材料目录 天合光能股份有限公司 | 2025 2 | 年第五次临时股东会参会须知 | | --- | --- | | 2025 4 | 年第五次临时股东会会议议程 | | 2025 6 | 年第五次临时股东会会议议案 | | 议案一、关于取消监事会、变更公司注册资本并修订《公司章程》及部分管理制度的议案 | | | 6 | | 1 天合光能股份有限公司 2025 年第五次临时股东会会议材料 天合光能股份有限公司 2025 年第五次临时股东会参会须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证会议的顺利 进行，根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司股东会规则》 以及《天合光能股份有限公司章程》《天合光能股份有限公司股东会议事规则》等相关规 定，特制定 2025 年第五次临时股东会参会须知。 一、为保证股东会的严肃性和正常秩序，切实维护与会股东（或股东代表）的合法权 益，除出席会议的股东（或股东代表 ...

Core Viewpoint - The integration of solar and energy storage (光储融合) is becoming a standard in the photovoltaic industry, with companies like 阳光电源 achieving significant profitability and market capitalization growth due to their strategic positioning in this sector [2][14]. Group 1: Industry Trends - The photovoltaic industry is witnessing a shift towards solar-storage integration, with major players like 隆基绿能 and 阿特斯 actively pursuing energy storage business opportunities [4][6]. - The demand for energy storage is driven by the need to stabilize the grid and enhance the efficiency of renewable energy consumption, particularly in the context of fluctuating electricity prices [10][11]. - Recent policy changes, such as the relaxation of market price limits, are expected to further enhance the economic viability of solar-storage models [10][12]. Group 2: Company Performance - 阳光电源 reported a revenue of 435 billion yuan in the first half of the year, a 40% year-on-year increase, with a net profit of 77 billion yuan, up 56% [2][14]. - 阿特斯 achieved a significant increase in energy storage system deliveries, reaching 3.1 GWh in the first half of the year, with a 140% quarter-on-quarter growth in the second quarter [14]. - Companies that have strategically integrated energy storage into their operations are experiencing improved profitability, while those without adequate preparation may struggle in the competitive landscape [16]. Group 3: Market Opportunities - The global energy storage market is projected to grow at a compound annual growth rate of 20% to 30% in the coming years, with strong demand anticipated in regions like Europe, the United States, and Australia [16]. - The integration of solar and energy storage is seen as a critical pathway for companies to navigate through industry cycles and achieve sustainable development [16][18]. - The upcoming ESIE 2026 event is expected to serve as a platform for showcasing technological advancements and fostering collaboration within the energy storage sector [17][18].

Core Insights - The article discusses recent strategic partnerships in the energy storage sector, highlighting significant agreements by companies such as Trina Solar and EVE Energy to supply large-scale energy storage systems in international markets [1][2][6]. Group 1: Trina Solar Developments - Trina Solar has signed a strategic cooperation agreement with Japan's Yuasa Corporation to supply a total of 500MWh of large-scale energy storage systems starting in 2025, aiming to accelerate its market entry in Japan [2][4]. - The partnership will involve Trina Solar providing a complete integrated solution, including battery cells and BESS systems, while Yuasa will handle market development and local service network construction [4][5]. - Trina Solar aims to achieve a shipment target of over 8GWh for its energy storage business in 2025, with 40% of shipments expected to be domestic and 60% international, focusing on high-growth overseas markets [5]. Group 2: EVE Energy Initiatives - EVE Energy has signed a strategic cooperation agreement for 500MWh of energy storage with CommVOLT, a Polish company, to address the growing demand for commercial and industrial energy storage in Europe [6][8]. - This collaboration aims to enhance grid stability and renewable energy absorption capabilities, while also establishing benchmark energy storage projects in Central and Eastern Europe [8]. - EVE Energy recently completed a 200MW/400MWh independent energy storage project, marking the first large-scale application of a 628Ah storage battery in a megawatt-hour level power station [8].

Group 1 - China aims to achieve a total installed capacity of wind and solar power reaching 3.6 billion kilowatts by 2035, which is over six times the capacity in 2020 [3] - The new national contributions include a target for non-fossil energy consumption to account for over 30% of total energy consumption [3] - The forest stock volume is targeted to exceed 24 billion cubic meters by 2035 [3] Group 2 - Four departments in China have issued guidelines to promote the development of a high-quality energy equipment system, aiming for significant advancements in the energy equipment industry by 2030 [4] - The guidelines emphasize the need for long-life, wide-temperature, low-degradation lithium batteries, sodium batteries, and solid-state batteries [4] - The focus is also on developing low-cost, long-duration flow battery systems and enhancing the safety performance of energy storage batteries [4] Group 3 - The steel industry is set to achieve an average annual growth of around 4% in value added from 2025 to 2026, with a focus on optimizing industrial structure and enhancing green and digital development [5] - The plan includes ten specific measures across five areas, such as precise control of production capacity and promoting quality upgrades of bulk products [5] Group 4 - The petrochemical industry aims for an average annual growth of over 5% in value added from 2025 to 2026, with a focus on enhancing technological innovation and achieving collaborative benefits in pollution reduction and carbon reduction [6] - The plan emphasizes the transition of chemical parks from standard construction to high-quality development [6] Group 5 - Li Auto and battery giant Xinwanda plan to establish a joint venture for the production and sale of lithium-ion batteries for electric vehicles, with each holding a 50% stake [7] - This follows a strategic cooperation agreement with CATL to collaborate on battery safety and ultra-fast charging technology [7] Group 6 - Four exchanges in the Guangdong-Hong Kong-Macao Greater Bay Area have signed a memorandum to promote the development of the carbon market and green finance ecosystem [8] - The collaboration aims to enhance professional capabilities in carbon market operations and green finance [8] Group 7 - Trina Solar's energy storage division has undergone management changes, with a new president appointed to focus on energy storage while the previous president shifts focus to the solar module sector [9] - Trina Solar aims for energy storage shipments to exceed 8 GWh by 2025, with a target of maintaining over 50% year-on-year growth in 2026 [9] Group 8 - China's first green energy supply railway project has been launched, integrating renewable energy and storage into the railway power supply system [10] - The project is expected to provide an average of 7.39 million kilowatt-hours of green electricity annually, saving 2,218.3 tons of standard coal and reducing carbon dioxide emissions by 5,804.53 tons [10]

Core Viewpoint - The Sanjiangyuan region is crucial for ecological security and water conservation in China, and it is becoming a key node for green computing power due to its abundant renewable energy resources and land space, especially with the advancement of the "East Data West Computing" project [1] Group 1: Project Overview - The project integrates a smart microgrid system that operates on 100% clean energy, supporting high-performance computing in high-altitude areas [1][2] - The project utilizes Trina Solar's N-type 720Wp TOPCon bifacial modules, which have a first-year degradation of only 1% and an average annual degradation of 0.4% [2][3] - The project is expected to generate over 10 million kWh annually, significantly reducing carbon emissions by 8,196 tons per year and lowering electricity costs by 20% compared to conventional power sources [2][3] Group 2: Technical Features - The project features a "source-network-load-storage-computing" five-dimensional collaborative system, integrating 6.18MWp of solar power, 30kW of wind power, and a 500kW/1044kWh energy storage system [3] - The energy management system (EMS) developed by the company can predict short-term wind and solar power output with over 92% accuracy, enhancing the efficiency of energy storage dispatch [3][4] - The system is designed to respond to grid commands in milliseconds, ensuring stable operation of computing equipment by dynamically matching energy supply and demand [3][4] Group 3: Environmental Considerations - The project is designed to minimize environmental impact in the ecologically sensitive Sanjiangyuan region, utilizing components that ensure long-term weather resistance and thermal stability [4][5] - The solar panel installation is elevated 0.3 meters above ground to reduce surface disturbance and promote natural grassland restoration [5] - The project aims to create a new energy system that is efficient, stable, and environmentally friendly, with plans to replicate the model in other high-altitude and desert areas [5]

Core Viewpoint - The "Carbon Neutral Green Influence Brand" for 2025 was officially announced on September 27, with 18 brands recognized for their contributions to promoting green and low-carbon initiatives in the industry [1][4]. Group 1: Brand Recognition - A total of 18 brands were awarded the title of "Carbon Neutral Green Influence Brand" after a comprehensive evaluation [1]. - The initiative aims to tell compelling green brand stories, amplify brand voices, and encourage more enterprises to transition towards greener practices [1]. Group 2: List of Recognized Brands - The following companies were included in the 2025 Carbon Neutral Green Influence Brand list: 1. State Power Investment Corporation 2. China Huadian Group Carbon Asset Operation Co., Ltd. 3. China Huadian Financial Integration Green Finance Research Center 4. Huadian Jiangsu Energy Co., Ltd. 5. GCL-Poly Energy Holdings Limited 6. Tongwei Co., Ltd. 7. LONGi Green Energy Technology Co., Ltd. 8. Goldwind Technology Co., Ltd. 9. Trina Solar Limited 10. Yingli Green Energy Holding Company Limited 11. Zhejiang Chint New Energy Development Co., Ltd. 12. Chuan Cai Securities Co., Ltd. 13. Xiamen Kehua Data Technology Co., Ltd. 14. Guangzhou Penghui Energy Technology Co., Ltd. 15. (Beijing) Technology Co., Ltd. Zhongchu Guoneng 16. Shijiazhuang Anruike Gas Machinery Co., Ltd. 17. Aiswei Technology Co., Ltd. 18. Huiyao Pinshang Energy Technology (Jiaxing) Co., Ltd. [2][3]

Core Viewpoint - The energy storage industry is experiencing a significant demand for battery cells, leading to price increases and a complex market environment where companies must navigate rising costs and competitive pressures [2][3][5]. Group 1: Market Dynamics - The demand for energy storage battery cells is strong, with leading battery manufacturers operating at full capacity and some orders extending into early next year [2]. - The price of battery cells has increased by 0.02–0.03 yuan/Wh, with costs being passed down to system integrators [2][3]. - The commercial energy storage market is at a turning point, facing pressure from rising costs and slowing growth, leading to a dilemma for system integrators on whether to raise prices or lower them to secure orders [3][5]. Group 2: Pricing Trends - The mainstream price for commercial energy storage systems is expected to stabilize between 0.6-0.68 yuan/Wh, with potential for limited increases in the future [10][13]. - Since September 2023, the price of commercial energy storage units has dropped significantly, with a decline of 60.71% from 1.40 yuan/Wh to as low as 0.55 yuan/Wh [6][10]. - The overall average price for commercial energy storage units has stabilized around 0.65 yuan/Wh, with the lowest price recorded at 0.53 yuan/Wh [6]. Group 3: Value vs. Price Competition - The industry is shifting from a focus on low prices to a focus on quality-price ratio (value competition), driven by stricter safety regulations and changes in pricing policies [17][20]. - Companies are encouraged to prioritize high value over low prices, as long-term profitability relies on product longevity, efficiency, and reliability [19][23]. - The competition is expected to evolve, with leading firms leveraging technology and service capabilities to create barriers, while smaller firms may struggle or pivot to contract manufacturing [24][25]. Group 4: Future Outlook - By 2025, the energy storage industry is anticipated to undergo significant consolidation, with weaker companies potentially exiting the market due to price pressures [25]. - The market is expected to stabilize as it matures, with companies that excel in technology, product quality, and service likely to dominate [25][26]. - The focus will shift towards creating long-term value through innovation and operational efficiency, rather than engaging in detrimental price wars [20][21].

Core Viewpoint - The integration of solar and energy storage (光储融合) is becoming a standard in the photovoltaic industry, with companies like 阳光电源 achieving significant profitability and market capitalization growth due to their strategic positioning in this sector [1][9]. Group 1: Company Performance - 阳光电源 reported a net profit of 7.7 billion yuan in the first half of the year, with a market capitalization surpassing 300 billion yuan, making it the third photovoltaic company to reach this milestone [1]. - 阿特斯 has signed contracts for energy storage systems amounting to 3 billion USD, with projected shipments of 2.1 to 2.3 GWh in Q3 and an annual target of 7 to 9 GWh [4]. - The company achieved a revenue of 43.5 billion yuan in the first half of the year, a 40% year-on-year increase, with a net profit growth of 56% [9]. Group 2: Industry Trends - The photovoltaic industry is witnessing a shift towards energy storage integration, with companies like 隆基绿能 exploring acquisitions in the storage sector to enhance their offerings [3][4]. - The demand for energy storage is driven by the need to stabilize the grid and manage the intermittent nature of renewable energy sources, particularly solar [5][7]. - Policies are evolving to support the economic viability of energy storage, with the potential for increased price differentials between peak and off-peak electricity [6][10]. Group 3: Market Dynamics - The energy storage market is expected to grow significantly, with a projected compound annual growth rate of 20% to 30% globally in the coming years [11]. - The integration of solar and storage solutions is seen as a critical strategy for companies to navigate the current low-price environment and achieve sustainable growth [10]. - The competitive landscape is intensifying, with leading companies maintaining profitability while smaller firms struggle, highlighting the importance of technological and market understanding [10].

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： 2025年第五次临时股东会 召开日期时间：2025年10月13日 14点00分 召开地点：常州市新北区天合路2号天合光能股份有限公司会议室 网络投票起止时间：自2025年10月13日 至2025年10月13日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东会召开当日的交易时间 段，即9:15-9:25,9:30-11:30，13:00-15:00；通过互联网投票平台的投票时间为股东会召开当日的9:15- 15:00。 （六）融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者的投票，应按照《上海证券交易 所科创板上市公司自律监管指引第1号一规范运作》等有关规定执行。 （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 ■ 1、说明各议案已披露的时间和披露媒体 本次提交股东会审议的议案已经公司第三届董事会第三十五次会议审议通过，具体内容 ...