Group 1 - The company, Hengdian East Magnetic (002056.SZ), stated that it currently does not produce amorphous wire [1] - The collaboration project with Ningbo Materials does not involve this product [1]

Investment Rating - The report maintains a "Buy" rating for several companies in the solar energy sector, with specific ratings of "Buy-A" and "Buy-B" assigned to various stocks [1]. Core Insights - In October 2025, the domestic solar photovoltaic (PV) new installed capacity decreased by 38.3% year-on-year, while the cumulative installed capacity from January to October increased by 39.5% year-on-year [2][12]. - The export value of solar modules in October was 16.08 billion yuan, showing a year-on-year increase of 4.9% but a month-on-month decrease of 19.5% [2][15]. - The inverter export value in October was 4.82 billion yuan, reflecting a year-on-year growth of 3.4% but a month-on-month decline of 5.2% [3][25]. - Solar power generation in October increased by 5.9% year-on-year, accounting for 4.77% of the total national power generation [4][38]. Summary by Sections Domestic Solar New Installed Capacity - In October 2025, the new installed capacity was 12.6 GW, down 38.3% year-on-year but up 30.4% month-on-month. The cumulative installed capacity from January to October reached 252.87 GW [2][12]. Export Data - Solar module exports in October totaled 16.08 billion yuan, with a year-on-year increase of 4.9% and a month-on-month decrease of 19.5%. Cumulative exports from January to October were 168.26 billion yuan, down 11.8% year-on-year [2][15]. - Inverter exports in October were valued at 4.82 billion yuan, with a year-on-year increase of 3.4% and a month-on-month decrease of 5.2%. Cumulative inverter exports from January to October reached 53.31 billion yuan, up 7.2% year-on-year [3][25]. Solar Power Generation - The solar power generation in October was 39.37 billion kWh, representing a year-on-year growth of 5.9% and a slight decrease in its share of total power generation [4][38]. Investment Recommendations - The report recommends focusing on companies such as Aishuo Co., Longi Green Energy, and Daqian Energy for new technology and supply-side directions. It also highlights companies like Haibo Sichuang and Sunshine Power for energy storage, and suggests attention to various other companies in the solar sector [4][42].

证券代码：002056 证券简称：横店东磁 公告编号：2025-075 横店集团东磁股份有限公司 关于为下属公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 单位：万元 （二）调剂担保额度情况 公司为横丰新能源、东榆发电、东赣发电和东望发电提供的担保使用了公司 2025 年度担保额度调剂，具体情况如下： 特别提示：截至2025年11月30日，公司为下属公司提供担保总余额为 27,800.21万元，占公司最近一期经审计净资产的2.76%。公司及下属公司不存在 为合并报表范围外单位提供担保，也不存在逾期担保。 一、提供担保进展概述 （一）担保进展 近期，横店集团东磁股份有限公司（以下简称"公司"）为全资子公司 DMEGC Renewable Energy B.V 开具预付款保函而承担连带责任保证，累计提供 担保金额约人民币 276.01 万元（按当日汇率结算），最晚一笔担保期限至 2026 年 6 月 30 日止；公司为全资子公司东阳横丰新能源科技有限公司（以下简称"横 丰新能源"）开具质量保函而承担连带保证责任，提供担保金额约人民币 68. ...

Core Insights - The photovoltaic equipment sector experienced a rise of 1.32% on November 28, with Micro导纳米 leading the gains [1] - The Shanghai Composite Index closed at 3888.6, up 0.34%, while the Shenzhen Component Index closed at 12984.08, up 0.85% [1] Stock Performance - Micro导纳米 (688147) closed at 64.66, with a significant increase of 14.81% and a trading volume of 213,100 shares, amounting to a transaction value of 1.334 billion [1] - 航天机电 (600151) saw a rise of 10.06%, closing at 9.30 with a trading volume of 775,100 shares [1] - 迈为股份 (300751) increased by 5.94%, closing at 119.89 with a transaction value of 2.546 billion [1] - 艾罗能源 (688717) and 国际实业 (000159) also showed positive performance, with increases of 4.92% and 4.70% respectively [1] Capital Flow - The photovoltaic equipment sector saw a net inflow of 528 million from main funds, while retail investors experienced a net outflow of 219 million [2] - The main funds showed significant interest in 阳光电源 (300274) with a net inflow of 333 million, while 上能电气 (300827) had a net inflow of 195 million [3] - 航天机电 (600151) attracted a net inflow of 177 million from main funds, indicating strong institutional interest [3]

Core Viewpoint - The company is actively monitoring and moderately advancing its development in the energy storage business [1] Company Summary - Hengdian East Magnetic (002056.SZ) has expressed interest in the energy storage sector through its interactions on investor platforms [1]

Core Points - The stock of Hengdian East Magnetic (002056) closed at 18.85 yuan on November 25, 2025, up 1.18% from the previous trading day, with a total market capitalization of 30.664 billion yuan [1] - The company will hold its second extraordinary general meeting of shareholders for 2025 on December 11, 2025, to discuss several key proposals [1] Group 1 - The stock opened at 18.83 yuan, reached a high of 19.19 yuan, and a low of 18.71 yuan, with a trading volume of 418 million yuan and a turnover rate of 1.36% [1] - The meeting will review proposals including the estimated guarantee limits for 2026, expected daily related transaction limits, credit limits from financial institutions, and adjustments to financial assistance rates for subsidiaries [1] - Certain proposals will require separate voting for minority investors, and related shareholders must abstain from voting [1]

Core Viewpoint - Hengdian East Magnetic announced the convening of its 26th meeting of the 9th Board of Directors on November 25, 2025, to review the proposal for applying for credit limits from financial institutions for the year 2026 [2] Group 1 - The company will discuss the application for credit limits from financial institutions during the upcoming board meeting [2] - The meeting is scheduled for November 25, 2025 [2]

Group 1 - The company Hengdian East Magnetic announced that as of October 31, 2025, it will provide guarantees totaling 1.82 billion yuan for its subsidiaries, which accounts for 18.05% of the latest audited net assets [1] - The balance of guarantees provided by the company and its subsidiaries is approximately 245 million yuan, representing 2.43% of the latest audited net assets [1] - For the first half of 2025, the company's revenue composition is as follows: solar photovoltaic industry 67.47%, magnetic materials 16.24%, new energy batteries 10.77%, vibration devices 3.62%, and others 1.89% [1] Group 2 - As of the report date, Hengdian East Magnetic has a market capitalization of 30.7 billion yuan [1] - A related company, which recently went public, is under investigation by the China Securities Regulatory Commission due to a significant loss exceeding 100 million yuan and a major client reducing purchases [1]

横店集团东磁股份有限公司 关于2026年度开展外汇套期保值业务的可行性分析报告 一、开展外汇套期保值业务的背景 横店集团东磁股份有限公司（以下简称"公司"）持续加大国际化市场的拓 展力度，外销占比不断提升，因此当汇率出现较大波动幅度时，汇兑损益将对公司 的经营业绩产生较大影响。现公司外销结算币种主要采用欧元、美元和日元，为了 规避公司生产经营过程中所面临的汇率风险，公司拟开展外汇套期保值业务，业 务的整体交易规模将与公司实际业务规模基本相匹配，使公司长期保持较为稳定的 利润水平，专注于生产经营。 二、拟开展外汇套期保值业务概况 1、交易品种：包括但不限于外汇远期结售汇（定期、择期）、掉期（互换）、 期权、结构性外汇远期合约等产品。原则上，锁汇比例不高于年度外汇收付款净额 的70%，公司外汇风险决策小组可以根据实际经营和汇率变动情况适时适度调整， 以实现风险对冲，降低汇率波动对经营的影响。 2、交易金额及期限：任一时点的交易余额不超过等值50亿人民币，有效期限 自公司第九届董事会第二十六次会议审议通过之日起至2026年年度股东会召开之日 止，上述额度在审批期限内可循环滚动使用。 3、交易场所：经监管机构批准、具 ...

证券代码：002056 证券简称：横店东磁 公告编号：2025-073 横店集团东磁股份有限公司 关于调整对下属公司财务资助利率暨关联交易的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、财务资助事项概述 （一）基本情况 横店集团东磁股份有限公司（以下简称"公司"）于 2023 年 10 月 19 日及 2023 年11月7日分别召开第九届董事会第五次会议、第九届监事会第五次会议和2023 年第二次临时股东大会，审议通过了《公司关于向控股孙公司提供财务资助暨关 联交易的议案》，同意公司通过全资子公司横店集团东磁股份香港有限公司（以 下简称"香港东磁"）向控股孙公司 DMEGC INVESTMENT PTE.LTD.（以下简 称"新加坡东磁"）提供财务资助，主要用于投资海外光伏产业链，资助总额度 不超过 8,000 万美元，期限三年，借款年利率 8%。具体公告内容详见公司于 2023 年 10 月 20 日刊登在《证券时报》以及巨潮资讯网（www.cninfo.com.cn）的相关 公告。 公司于 2025 年 3 月 11 日及 2025 年 4 月 ...