Market Overview - On September 15, the wind power equipment sector declined by 0.36%, with Electric Power Wind leading the drop [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Stock Performance - Notable gainers in the wind power equipment sector included: - Yunda Co., Ltd. (300772) with a closing price of 18.70, up 5.17% and a trading volume of 463,800 shares, totaling 8.53 billion yuan [1] - Pangu Intelligent (301456) closed at 28.46, up 2.30% with a trading volume of 52,400 shares, totaling 1.48 billion yuan [1] - Conversely, Electric Power Wind (688660) saw a significant decline of 4.88%, closing at 19.10 with a trading volume of 438,100 shares, totaling 845 million yuan [2] Capital Flow - The wind power equipment sector experienced a net inflow of 42.78 million yuan from institutional investors, while retail investors saw a net outflow of 164 million yuan [2] - Key stocks with notable capital flows included: - Yunda Co., Ltd. (300772) had a net inflow of 103 million yuan from institutional investors, but a net outflow of 94.92 million yuan from retail investors [3] - Hewei Electric (603063) recorded a net inflow of 66.60 million yuan from institutional investors, with a net outflow of 46.31 million yuan from retail investors [3]

Core Viewpoint - The successful certification of the Electric Wind W2500-126 model by the Japan Maritime Association (ClassNK) marks a significant milestone for the company, enabling its entry into the Japanese wind power market, which is known for its stringent technical standards [1] Group 1: Certification and Market Entry - The Electric Wind W2500-126 model has received authoritative certification from ClassNK, which is crucial for entering the Japanese wind power market [1] - Japan's wind power market is recognized as one of the most demanding globally, with specific requirements for typhoon resistance and earthquake durability in wind turbine equipment [1] - The certification of the 2.5MW wind turbine represents a breakthrough for Electric Wind, laying a solid foundation for market expansion in Japan's onshore wind power sector [1]

Core Viewpoint - The wind power equipment sector experienced a slight decline of 0.11% on September 12, with major losses led by Daikin Heavy Industries, while the overall market indices showed modest gains [1][2]. Market Performance - The Shanghai Composite Index closed at 3883.69, up 0.22% - The Shenzhen Component Index closed at 12996.38, up 0.13% [1]. Wind Power Equipment Sector Performance - Key stocks in the wind power equipment sector showed varied performance, with notable gainers including: - Electric Wind Power (688660) up 8.08% at a closing price of 20.07 - Weili Transmission (300904) up 3.45% at a closing price of 68.28 - Zhonghuan Hailu (301040) up 2.17% at a closing price of 24.01 [1]. - Conversely, Daikin Heavy Industries (002487) led the declines, down 2.78% at a closing price of 40.26 [2]. Capital Flow Analysis - The wind power equipment sector saw a net outflow of 225 million yuan from institutional investors, while retail investors contributed a net inflow of approximately 48 million yuan [2][3]. - Notable capital flows included: - Electric Wind Power (688660) with a net inflow of 131 million yuan from institutional investors - Ji Xin Technology (601218) with a net inflow of 38.89 million yuan [3].

Investment Rating - The report maintains an "Overweight" rating for the electric equipment and new energy industry [2] Core Insights - The report highlights the issuance of the "New Energy Storage Scale Construction Special Action Plan" by the National Development and Reform Commission and the National Energy Administration, aiming for a new energy storage capacity of over 180 million kilowatts by 2027, with direct investment of approximately 250 billion yuan [5][36] - The electric equipment sector has shown strong performance, with a 28.39% increase year-to-date, outperforming the CSI 300 index by 12.81 percentage points [12][18] - The report suggests focusing on leading inverter companies that benefit from the development of new energy storage technologies [40] Market Review - As of September 11, 2025, the electric equipment industry has risen by 11.64% over the past two weeks, ranking first among 31 industries [12] - The wind power equipment sector increased by 0.35%, while the photovoltaic equipment sector rose by 13.34% [18] - The battery sector saw a significant increase of 19.50% in the same period [18] Valuation and Industry Data - The electric equipment sector's PE (TTM) is 31.61 times, with sub-sectors like the motor sector at 61.67 times and photovoltaic equipment at 25.19 times [25] - The report provides detailed valuation metrics for various sub-sectors, indicating a strong market position for electric equipment [25] Industry News - The report discusses the "Electric Equipment Industry Steady Growth Work Plan (2025-2026)" aimed at improving equipment supply quality and promoting high-quality development of new energy equipment [36] - It also mentions the ongoing efforts to enhance the acceptance and regulation capabilities of the grid for clean energy [36] Company Announcements - The report includes various company announcements, such as the completion of registration procedures by Xidian New Energy in Thailand and significant contract wins by Youxunda [38] Weekly Perspective - The report emphasizes the importance of the new energy storage plan and its implications for the electric equipment sector, suggesting that companies with advanced technology and scale in inverter production should be closely monitored [39][40]

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board New Energy Index (000692) has seen a strong increase of 1.90%, with significant gains in constituent stocks such as Juhe Materials (688503) up 12.79%, Aotwei (688516) up 6.53%, and Yihua Tong (688339) up 5.29% [1] - The new energy sector is performing well, particularly in the photovoltaic concept, with domestic electric vehicle brands like Leap Motor, Xpeng, and NIO achieving record sales in August, indicating strong growth resilience [1] - The Sci-Tech Innovation New Energy ETF (588830) rose by 1.97%, with the latest price reported at 1.5 yuan [1] Group 2 - Dongwu Securities indicates that silicon material prices hit bottom in Q2 2025, with significant profit pressure; however, profitability is expected to turn positive in H2 2025 as industry competition drives prices up [2] - The silicon wafer market is experiencing oversupply, leading to competitive pricing; profitability is anticipated to improve in H2 2025 and into 2026 due to capacity consolidation and industry competition [2] - The overall price of components has entered a bottom range, with expectations for price recovery in Q2 2025 driven by installation surges and improved financial reporting [2] Group 3 - As of August 29, 2025, the top ten weighted stocks in the Shanghai Stock Exchange Sci-Tech Innovation Board New Energy Index include JinkoSolar (688223), Trina Solar (688599), and Daqo New Energy (688303), collectively accounting for 48.15% of the index [3] - The Sci-Tech Innovation New Energy ETF (588830) closely tracks the performance of the New Energy Index, which includes 50 large-cap stocks in the photovoltaic, wind power, and new energy vehicle sectors [2][3]

Market Overview - On September 9, the wind power equipment sector declined by 2.6%, with Electric Power Wind leading the drop [1] - The Shanghai Composite Index closed at 3807.29, down 0.51%, while the Shenzhen Component Index closed at 12510.6, down 1.23% [1] Stock Performance - Notable gainers included: - Jixin Technology (601218) with a closing price of 5.07, up 4.11% [1] - Pangu Intelligent (301456) at 29.92, up 2.50% [1] - Weili Transmission (300904) at 71.19, up 1.80% [1] - Significant losers included: - Electric Power Wind (688660) at 18.10, down 14.18% [2] - Zhonghuan Hailu (301040) at 23.95, down 10.17% [2] - New Qianglian (300850) at 37.06, down 4.80% [2] Capital Flow - The wind power equipment sector experienced a net outflow of 672 million yuan from main funds, while retail investors saw a net inflow of 576 million yuan [2] - The table of capital flow indicates that major stocks like Daqian Heavy Industry (002487) and Jixin Technology (601218) had varying levels of net inflow and outflow from different investor types [3]

Group 1 - The controlling shareholder of Electric Wind Power, Shanghai Electric Group, holds approximately 819 million shares, accounting for 61.4% of the total share capital [1] - Shanghai Electric plans to reduce its stake in Electric Wind Power by up to 13.33 million shares, representing no more than 1% of the total share capital, through centralized bidding transactions [1] - The company’s revenue composition for 2024 is projected to be 99.38% from the wind power industry and 0.62% from other businesses [2] Group 2 - As of the latest report, Electric Wind Power has a market capitalization of 28.1 billion yuan [2]

Core Viewpoint - The company Electric Wind Power (688660.SH) announced that its controlling shareholder, Shanghai Electric (601727), plans to reduce its stake in the company due to internal business arrangements, with a maximum reduction of 13.33 million shares, accounting for no more than 1% of the total share capital [1] Summary by Relevant Sections - **Share Reduction Plan** - Shanghai Electric intends to reduce its holdings through centralized bidding, with the reduction period starting 15 trading days after the announcement and lasting for 3 months [1]

Core Viewpoint - The company Electric Wind Power (688660.SH) announced that its controlling shareholder, Shanghai Electric, plans to reduce its stake in the company by up to 13.33 million shares, representing no more than 1% of the total share capital, due to internal business arrangements [1] Summary by Relevant Categories Shareholder Actions - Shanghai Electric intends to reduce its holdings through centralized bidding transactions within three months after the announcement, starting 15 trading days post-disclosure [1] Share Reduction Details - The maximum number of shares to be sold is 13.33 million, which corresponds to a maximum reduction of 1% of the company's total share capital [1]

证券代码：688660 证券简称：电气风电 公告编号：2025-033 上海电气风电集团股份有限公司 控股股东减持股份计划公告 本公司董事会、全体董事及相关股东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： 控股股东持有股份的基本情况 截至本公告披露日，上海电气风电集团股份有限公司（以下简称"公司"或 "电气风电"）控股股东上海电气集团股份有限公司（以下简称"上海电气"）直 接持有公司股份 818,666,636 股，占公司总股本的 61.40%，其中 792,000,000 股为在公司首次公开发行股票前取得（以下简称"IPO 前取得"）的股份， 26,666,636 股为通过证券交易所集中竞价交易买入取得的股份。上海电气投资 有限公司（以下简称"电气投资"）持有公司 8,000,000 股，均为在 IPO 前取得， 占公司总股本的 0.60%。电气投资作为上海电气的全资子公司，因股权控制关系 构成一致行动人。上海电气合并持有公司股份 826,666,636 股，占公司总股本的 62.00%。上述股份均为无限售条件流通股。 减 ...