Group 1 - The company announced that director Huang Zhengguang holds 455,000 shares, accounting for 0.0943% of the current total share capital [1] - Huang plans to reduce his holdings by no more than 93,750 shares, which represents 0.0194% of the current total share capital, within three months from March 10, 2026, to June 9, 2026 [1] - The reduction will be executed through centralized bidding or block trading, and the selling price will be determined based on market conditions at the time of the sale [1]

Group 1 - Company Wanzhou Co., Ltd. announced that its director, Mr. Huang Zhengguang, holds 455,000 shares, accounting for 0.0943% of the total share capital [1] - Mr. Huang plans to reduce his holdings by up to approximately 93,800 shares, which is not more than 0.0194% of the current total share capital, within three months from March 10, 2026, to June 9, 2026 [1] Group 2 - Central banks aim to accumulate 700 tons of gold and have announced an additional purchase of 150 tons [2]

证券代码：000534 证券简称：万泽股份 公告编号：2026-009 万泽实业股份有限公司 关于公司董事减持股份的预披露公告 本公司董事黄振光先生保证向本公司提供的信息内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息 一致。 特别提示： 1、万泽实业股份有限公司（以下简称"公司"或"本公司"）董事黄 振光先生持有本公司股份455,000股，占本公司当前总股本（剔除公司回购 专用证券账户持股数量）的比例为0.0943%。 2、黄振光先生计划在本公告披露之日起十五个交易日后的三个月内 （即2026年3月10日至2026年6月9日）通过深圳证券交易所证券交易系统的 集中竞价交易或大宗交易方式减持本公司股份不超过93,750股，即不超过本 公司当前总股本（剔除公司回购专用证券账户持股数量）的0.0194%。 公司于近日收到董事黄振光先生《关于计划减持万泽实业股份有限公 司股份的告知函》，现将有关情况公告如下： 注：公司当前总股本为 509,548,516 股，剔除公司回购专用证券账户持股数量 27,196,157 股后的 公司当前总股本为 4 ...

Investment Rating - The report does not explicitly state an investment rating for the gas turbine industry Core Insights - Gas turbines have a wide range of downstream applications, with F-class being the current mainstream model [6] - AI is driving the gas turbine market into a prosperous cycle, with significant order increases from overseas leaders [6] - The overall capacity of the supply chain is tight, and domestic suppliers are expected to increase their global market share [9] Summary by Sections 1. Gas Turbines: Wide Downstream Applications, F-Class as the Mainstream Model - Gas turbines convert thermal energy into mechanical work and consist of three main components: compressor, combustion chamber, and turbine [7] - Heavy gas turbines are primarily used in fixed power generation units for urban grids, while light gas turbines are used in industrial power generation, marine propulsion, oil and gas transportation, distributed generation, and military applications [7][26] - The global gas turbine market is expected to see a significant increase in installed capacity, reaching over 100 GW in the next decade, with the U.S. adding 250 GW in the next five years [41][43] 2. Demand: AI Drives the Gas Turbine Market into a Prosperous Cycle - The global data center demand is expected to grow significantly, with AI data centers in the U.S. requiring an additional 31 GW of power over the next five years [31][36] - The electricity consumption of global data centers is projected to rise from 415 TWh in 2024 to 945 TWh by 2030, with the U.S. accounting for 45% of this demand [36] 3. Supply: Overall Capacity of the Supply Chain is Tight - The gas turbine OEM market is highly concentrated, with GEV, Siemens Energy, and Mitsubishi holding 34%, 27%, and 24% of the global market share, respectively [44] - The report highlights the increasing order intake for gas turbines, with GEV expecting to sign contracts for 24 GW in Q4 2025, and Siemens Energy forecasting 26 GW in the same period [55] 4. Investment Suggestions - The report suggests focusing on domestic suppliers' opportunities to increase their global market share and progress in the gas turbine supply chain [10] - The domestic suppliers are positioned to benefit from the ongoing expansion of the gas turbine market, particularly in high-temperature alloy components and blades [80]

证券代码：000534 证券简称：万泽股份 公告编号:2026-008 万泽实业股份有限公司 关于控股股东持股比例变动达到 1%的公告 公司于 2026 年 1 月 6 日披露了《关于控股股东减持股份的预披露公告》 （公告编号：2026-002），万泽集团计划在 2026 年 1 月 27 日至 2026 年 4 月 26 日通过深圳证券交易所证券交易系统的集中竞价交易或大宗交易方式 减持本公司股份不超过 8,000,000 股。 二、控股股东持股变动的具体情况 公司近日收到万泽集团《关于持股变动比例超过 1%的通知函》：自 2026 年 2 月 3 日至 2026 年 2 月 4 日，上述可交换公司债券的债券持有人累计换 股 1,687,795 股，加之万泽集团于 2026 年 2 月 3 日至 2026 年 2 月 4 日通过 深圳证券交易所证券交易系统的集中竞价交易方式减持本公司股份250,000 股，导致万泽集团及其一致行动人合计持有公司股份数量减少 1,937,795 股， 持股比例由 26.32%降至 25.94%，持股比例变动达到 1%。现将相关情况公 告如下： | 1．基本情况 | | | | ...

万泽股份公告称，控股股东万泽集团发行的可交换公司债券进入换股期。2026年2月3 - 4日，债券持有 人累计换股168.7795万股，万泽集团于同期通过集中竞价交易减持25万股，导致其及一致行动人合计持 股减少193.7795万股，持股比例由26.32%降至25.94%，变动达1%。万泽集团原计划2026年1月27日至4 月26日减持不超800万股，截至2月4日已累计减持173.3万股。 ...

Summary of Conference Call Records Industry Overview - The focus is on the domestic large aircraft sector, which is experiencing significant growth and investment interest. The market is characterized by a contradiction between the long-term potential and short-term delivery challenges of domestic large aircraft [1][2]. Key Points and Arguments - **Bottleneck Breakthroughs**: The industry is entering a phase where critical bottlenecks, particularly in engines and onboard equipment, are being addressed. This is expected to accelerate the delivery of domestic large aircraft [1][2]. - **Market Sentiment**: There is a prevailing belief that the delivery pace of domestic large aircraft is slow, yet the long-term market potential remains vast. The resolution of bottlenecks is anticipated to lead to a steep change in expectations [1]. - **Catalysts for Growth**: Recent developments, such as the European Union Aviation Safety Agency (EASA) beginning flight evaluations for the C919 in Shanghai, are expected to enhance the global competitiveness of China's commercial aircraft [1]. Core Companies Mentioned - **Major Players**: - Two major companies: AVIC (中航机载) and Aero Engine Corporation of China (航发动力) are highlighted as key players in the engine and onboard equipment sectors [2]. - Four additional companies: AVIC Technology (航发科技), Jiangxi Aircraft Equipment (江航装备), Huayin Technology (华秦科技), and Wanzhe Co. (万泽股份) are also noted for their roles in the industry [1][2]. Additional Important Information - **Engine Development**: The Changjiang 1000 engine has entered the airworthiness certification phase, progressing faster than expected. This is crucial for addressing the backlog of main engine orders due to global supply constraints [2]. - **Onboard Equipment**: The push for domestic onboard products is ongoing, with regulatory support from the Civil Aviation Administration of China (CAAC) to expedite the approval of key products [2]. - **Diverse Sector Involvement**: The industry encompasses various segments, including engines, onboard equipment, landing gear, and airframe structures, with numerous companies involved across these categories [2]. This summary encapsulates the key insights and developments within the domestic large aircraft sector as discussed in the conference call records.

证券代码：000534 证券简称：万泽股份 公告编号:2026-007 万泽实业股份有限公司 关于控股股东持股比例变动超过 1%的公告 万泽集团 2025 年面向专业投资者非公开发行科技创新可交换公司债券 （第一期）（债券简称：25 万泽 KEB1、25 万泽 KEB2）以本公司股票为标 的，于 2025 年 11 月 24 日进入换股期，换股期限为 2025 年 11 月 24 日至 2028 年 5 月 19 日止。具体内容详见公司于 2025 年 11 月 19 日披露的《关 于控股股东可交换公司债券进入换股期的提示性公告》（公告编号： 2025-098）。 万泽集团 2025 年面向专业投资者非公开发行科技创新可交换公司债券 （第二期）（债券简称：25 万泽 KEB3、25 万泽 KEB4）以本公司股票为标 1 的，于 2026 年 1 月 12 日进入换股期，换股期限为 2026 年 1 月 12 日至 2028 年 7 月 7 日止。具体内容详见公司于 2026 年 1 月 6 日披露的《关于控股股 东可交换公司债券进入换股期的提示性公告》（公告编号：2026-001）。 公司于 2026 年 1 ...

Market Overview - The biopharmaceutical sector increased by 1.27% on February 3, with Wanzhe Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] Stock Performance - Wanzhe Co., Ltd. (000534) closed at 30.65, with a rise of 10.01% and a trading volume of 313,500 shares, amounting to a transaction value of 921 million yuan [1] - Other notable performers included ST Weiming (002581) with a 5.01% increase, closing at 7.55, and Nearshore Protein (688137) with a 4.84% increase, closing at 44.20 [1] Capital Flow - The biopharmaceutical sector experienced a net outflow of 255 million yuan from institutional investors and 153 million yuan from retail investors, while retail investors saw a net inflow of 408 million yuan [2] - The capital flow for individual stocks showed that Wanzhe Co., Ltd. had a net outflow of 50.83 million yuan from institutional investors, while retail investors contributed a net inflow of 15.59 million yuan [3] Individual Stock Analysis - Eurolin Biotech (688319) had a net inflow of 21.61 million yuan from institutional investors, while ST Weiming (002581) saw a significant net inflow of 13.51 million yuan [3] - Conversely, major outflows were noted in Wanzhe Co., Ltd. and other stocks, indicating varied investor sentiment across the sector [3]

中国经济网北京1月29日讯万泽股份（000534）(000534.SZ)昨日晚间披露关于控股股东持股比例变动达到 1%的公告称，公司的控股股东万泽集团有限公司(以下简称"万泽集团")2023年面向专业投资者非公开发行 可交换公司债券(第一期)品种二(债券简称：23万泽EB02)以公司股票为标的，于2024年5月27日进入换股 期，换股期限为2024年5月27日起至2026年11月23日。 | 股份种类(A 股、B 股 | 增持/减持股数(万股) | 增持/减持比例(%) | | --- | --- | --- | | 等) | | | | A 股 | 506.7920 | 1.00 | | 合 计 | 506.7920 | 1.00 | 2026年1月20日至2026年1月27日，万泽股份的加权均价为27.21元，以此计算，万泽集团及其一致行动人套 现约1.38亿元。 万泽集团2025年面向专业投资者非公开发行科技创新可交换公司债券(第一期)(债券简称：25万泽KEB1、25 万泽KEB2)以公司股票为标的，于2025年11月24日进入换股期，换股期限为2025年11月24日至2028年5月19 日止。万泽集 ...