Group 1 - The stock price of Yishitong is reported at 27.43 yuan as of August 20, 2025, reflecting a decrease of 1.93 yuan or 6.57% from the previous trading day [1] - The opening price on the same day was 28.68 yuan, with a highest point of 28.68 yuan and a lowest point of 26.94 yuan, resulting in a trading volume of 227,300 hands and a transaction amount of 627 million yuan [1] - Yishitong operates in the non-metallic materials industry, focusing on new energy materials and electronic communication materials, with applications in lithium batteries and electronic components [1] Group 2 - From August 7 to August 20, a total of 6 overseas institutions conducted research on Yishitong, while 137 institutions engaged in research over the last 5 trading days (August 13 to August 19) [1] - On August 20, the net outflow of main funds from Yishitong was 186 million yuan, accounting for 3.39% of the circulating market value, with a cumulative net outflow of 300 million yuan over the past 5 days, representing 5.47% of the circulating market value [1]

沪深两市全天主力资金净流出302.29亿元，其中，科创板主力资金净流入7.30亿元，主力资金净流入的 有252只股，主力资金净流出的有335只股。 证券时报•数据宝统计显示，今日科创板个股上涨的有359只，涨停的有盛科通信、浩辰软件等2只，下 跌的有218只。 资金流向方面，今日主力资金净流入的科创板股共有252只，其中，15只个股主力资金净流入超亿元， 海光信息主力资金净流入10.84亿元，净流入资金居首；寒武纪、中芯国际紧随其后，全天净流入资金 分别为8.37亿元、3.85亿元。主力资金净流出的有335只，净流出资金最多的是东芯股份，该股今日下跌 3.75%，全天主力资金净流出3.66亿元，其次是赛诺医疗、壹石通，主力资金净流出分别为3.05亿元、 1.77亿元。 | 688468 | 科美诊断 | 166.76 | 2.68 | -0.23 | 1.77 | | --- | --- | --- | --- | --- | --- | | 688726 | 拉普拉斯 | 159.72 | 1.22 | 1.04 | 7.52 | | 688192 | 迪哲医药 | 152.10 | 0.53 | 0.76 ...

Summary of the Conference Call Company and Industry Overview - The conference call focuses on 易事通 (Yishitong) and its developments in Solid Oxide Fuel Cell (SOFC) technology, emphasizing its independent research and development efforts in the industry [2][3]. Key Points and Arguments - **SOFC Technology Development**: Yishitong has achieved significant milestones in SOFC technology since its inception in 2020, including optimizing stack performance and constructing demonstration projects to gather operational data for future commercialization [3][4]. - **Cost of SOFC Power Generation**: The current cost of SOFC power generation is approximately 1 RMB per kWh using natural gas, which is higher than traditional power supply solutions for data centers. However, this cost gap is expected to narrow with the advancement of green energy [2][4]. - **Cost Reduction Goals**: Yishitong aims to reduce the cost of its SOFC systems to below 30,000 RMB per kW by 2026, with current demonstration project pricing around 100,000 RMB per kW [2][6]. - **Cost Structure**: The cost structure of the SOFC system includes raw materials (20%), labor (10%), and equipment depreciation (30%). There is potential for further cost reduction through optimization of materials and production processes [11][8]. - **Market Focus**: The company is primarily targeting the data center application market, planning to enter through demonstration projects and expecting to scale production as the market matures in the next five years [12][13]. Additional Important Insights - **Technological Advantages**: Yishitong's SOFC technology is characterized by its self-developed components, full supply chain integration, and industrial equipment manufacturing capabilities, which provide a competitive edge in cost control and technology [7][9][10]. - **Performance Metrics**: The SOFC technology achieves average international levels in efficiency and lifespan, particularly suitable for data centers due to its reliability and high energy conversion efficiency [15][16]. - **Operational Plans**: The company plans to begin trial operations of its demonstration project by the end of the year, with a capacity of 120 kW [27]. - **International Market Engagement**: Yishitong is exploring both domestic and international markets, with a focus on small-scale power generation in Europe and data centers in China [13][21]. - **Future Commercialization**: The company anticipates achieving large-scale commercialization by around 2030, having already engaged with various clients for technical collaborations [14]. Conclusion Yishitong is positioned to leverage its technological advancements and strategic market focus to capitalize on the growing demand for efficient and sustainable energy solutions, particularly in the data center sector. The company's commitment to reducing costs and enhancing performance will be critical in achieving its long-term goals in the SOFC market.

从资金流向上来看，当日电池板块主力资金净流出7.18亿元，游资资金净流入2.64亿元，散户资金净流入 4.55亿元。电池板块个股资金流向见下表： 证券之星消息，8月19日电池板块较上一交易日下跌0.51%，壹石通领跌。当日上证指数报收于3727.29， 下跌0.02%。深证成指报收于11821.63，下跌0.12%。电池板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600110 | 诺德股份 | 8.47 | 10.00% | 369.96万 | | 30.82 Z | | 832522 | 纳科诺尔 | 61.05 | 7.48% | 8.09万 | | 4.86 Z | | 002733 | 雄韬股份 | 24.30 | 7.14% | 1 68.79万 | | 16.22 亿 | | 002074 | 国轩高科 | 32.43 | 5.81% | 124.65万 | | 39.97亿 | | 002850 | 科达利 | 128.43 | 5.70% ...

机构简介： 观富（北京）资产管理有限公司，成立于2015年。观富资产恪守逆向思维，信仰均值回归，精通价值评 估，于市场和行业噪音中遴选优质投资标的，为投资者贡献安心安全的投资选择。观富资产由中国基金 业首批开放式基金经理带队，公司所有合伙人均在"老10家"公募基金公司长期担任研究、投资部门的重 要管理职务， 以大型资产管理平台的视角，亲历资本市场多年起落，将严谨的风险管理体系和完善的 投资管理流程作为立足之本，为投资者创造风险调整后的长期超额收益。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 根据市场公开信息及8月18日披露的机构调研信息，知名私募观富资产近期对1家上市公司进行了调研， 相关名单如下： 1）壹石通 （观富资产参与公司分析师会议&电话会议） 调研纪要：公司自2020年立项固体氧化物燃料电池（SOFC）项目，已掌握关键核心技术，目前主要瓶 颈在于示范工程的运行数据积累和性能优化。公司计划2025年底建成首个示范工程项目并试运行，预计 2026年单kW设备成本降至3万元以下，2030年前进一步下降。SOFC具有广泛的燃料 ...

上海复胜资产管理合伙企业（有限合伙）成立于2015年，是国内首批以研究驱动为导向的阳光私募基金 管理公司。公司目前纯权益管理规模超过60亿。公司核心投研团队有16年以上大陆、香港、美国三地投 资经验，主要基金经理均有国内顶级公募投资经验。我们秉持"复利致胜"的原则，坚持业绩驱动投资， 重视投资的可持续性，致力为投资者获取长期的稳健收益。公司凭借优异的成绩，曾获中国证券报2019 年度第十一届三年期金牛私募投资经理（股票策略）、2020/2021年度第十一届金阳光•年度成长私募奖/ 十二届金阳光•三年卓越私募公司奖、2021第二届新财富最佳私募投资经理、2020英华奖中国私募基金 人气奖、2019/2020年度证券时报"金长江奖"绝对回报私募基金产品（三年期）以及2017年度（第十二 届）中国私募基金风云榜创业新锐奖，同年基金经理陆航荣获排排网股票策略最近一年全国地区收益组 十强，上海地区冠军。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 调研纪要：公司自2020年立项固体氧化物燃料电池（SOFC）项目，已掌握关键核心技术，目前主要 ...

Group 1 - The company Yishitong has been developing solid oxide fuel cell (SOFC) technology since 2020 and has mastered key core technologies [1] - The main bottleneck for the company is the accumulation of operational data and performance optimization for demonstration projects [1] - The company plans to complete its first demonstration project by the end of 2025 and expects the cost of a single kW device to drop below 30,000 yuan by 2026, with further reductions before 2030 [1] Group 2 - SOFC technology has broad fuel adaptability and high energy conversion efficiency, making it suitable for applications such as data centers, although it currently lacks the capacity to handle commercial orders [1] - The company aims to adopt a business model that combines equipment sales with energy sales, targeting GW-level production scale within five years [1] - The company holds independent core patents in the SOFC field, has established a complete industrial chain, and does not face risks related to patent barriers or supply chain constraints [1]

Group 1: Company Insights - High Yi Asset recently conducted research on two listed companies, Yishitong and Daotong Technology, focusing on their respective projects and business models [1][2] - Yishitong has developed key technologies for solid oxide fuel cells (SOFC) since 2020, with plans to complete its first demonstration project by the end of 2025 and reduce the cost of equipment to below 30,000 yuan per kW by 2026 [1] - The company aims to achieve GW-level production scale within five years and has established a complete industrial chain without patent barriers or bottlenecks [1] - Daotong Technology is advancing in the AI + charging business, offering an end-to-end payment solution and exploring stablecoin payments and RW financing [2] - The AI and software business operates on a subscription model, enhancing software revenue and renewal rates, while the TPMS business benefits from policy incentives and market demand [2] Group 2: Industry Context - SOFC technology is noted for its wide fuel adaptability and high energy conversion efficiency, making it suitable for applications such as data centers, although it currently lacks the capacity to handle commercial orders [1] - The global aftermarket replacement demand is driving growth in Daotong Technology's TPMS business, indicating a robust market opportunity [2]

证券之星消息，8月18日电池板块较上一交易日上涨1.27%，远航精密领涨。当日上证指数报收于 3728.03，上涨0.85%。深证成指报收于11835.57，上涨1.73%。电池板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 833914 | 远航精密 | 42.32 | 11.93% | 8.84万 | | 3.44亿 | | 301121 | 崇建电子 | 50.27 | 11.81% | 14.33万 | | 6.92亿 | | 688778 | 厦钨新能 | 56.95 | 10.73% | 13.57万 | | 7.53亿 | | 300409 | 道氏技术 | 20.87 | 10.66% | 116.92万 | | 23.42亿 | | 600110 | 诺德股份 | 7.70 | 10.00% | 107.20万 | | 8.19亿 | | 002733 | 雄韬股份 | 22.68 | 9.99% | 37.59万 | | 8.45亿 | ...

Core Insights - The rapid development of AI is driving a significant increase in power demand, with the International Energy Agency predicting that global data center electricity demand will more than double by 2030, primarily due to AI [1] - Traditional power supply solutions are inadequate for the high-density and stable power requirements of AI, making Solid Oxide Fuel Cell (SOFC) companies a focal point in the capital market [1] - SOFC technology not only meets the energy needs of data centers but also offers superior efficiency and a pollution-free operation mode, aligning with the green and efficient development goals of the industry [1] Industry Overview - The domestic SOFC industry is experiencing a "blooming" phase, with multiple listed companies actively positioning themselves in the market [1] - SOFC is at an "industrialization critical point," driven by favorable policies, technological advancements, and market demand, which are collectively accelerating industry breakthroughs [1] - Companies like Yishitong and Sanhuan Group are setting benchmarks for the domestic SOFC industry and are positioned to gain a first-mover advantage in the global energy transition [1] Technological Development - Current challenges in solid-state battery industrialization highlight the relative maturity of SOFC technology on an international scale [1] - The core tasks for SOFC development include supply chain improvement, product process optimization, enhancing yield rates, expanding application scenarios, and reducing costs through scale [1] - SOFC and Solid Oxide Electrolysis Cell (SOEC) technologies are expected to be key alternatives to traditional power supply solutions in the domestic market [1] Future Outlook - SOFC is recognized as a potential solution in the global energy transition and technological transformation, with the potential to reshape energy supply dynamics and support the sustainable development of the AI industry [2]