Core Viewpoint - A significant capital withdrawal is occurring in the A-share market, with major state-owned enterprises and industry leaders reducing their holdings, indicating a potential peak in valuations [1][3][6] Group 1: Capital Withdrawal Trends - In the past month, 104 central state-owned enterprises have collectively reduced their holdings by over 10 billion yuan [1] - In October 2025, a record 247 companies announced share reductions within a week, with over 400 companies reporting significant shareholder reductions totaling 19 billion yuan [3][6] - The total amount of reductions by major shareholders in A-shares has exceeded 380 billion yuan since the beginning of 2025, marking a new high [6] Group 2: Industry-Specific Reductions - Leading companies in various sectors, including semiconductor giant Zhongwei and liquor leader Shanxi Fenjiu, have seen substantial reductions, with Zhongwei's major shareholders reducing holdings by over 1.8 billion yuan [3][4] - The chemical industry leader Wanhua Chemical has also faced reductions exceeding 1.1 billion yuan, despite a recent decline in stock price [3] - The wind power leader Goldwind Technology has seen its fourth-largest shareholder reduce holdings by over 655 million yuan [4] Group 3: Shareholder Behavior and Market Impact - The reduction trend is characterized by a "group-style" phenomenon, where multiple companies and their major shareholders are reducing holdings simultaneously [6] - The electronics, computer, and machinery sectors have been particularly affected, accounting for over 40% of total reductions, reflecting a retreat from previously favored high-growth sectors [6] - Major shareholders often cite "personal funding needs" as the reason for reductions, but deeper motivations include valuation locking and profit realization [8][10] Group 4: Market Reactions and Sentiment - The market reacts negatively to high-profile reductions, with significant declines in stock prices following announcements, particularly for small-cap companies [10][12] - The behavior of major shareholders, especially state-owned entities, sends strong signals about market confidence and future prospects [10][19] - The current market sentiment remains optimistic, with some analysts suggesting that the reductions do not alter the overall upward trend, provided that confidence and funding remain intact [16][18]

Core Viewpoint - Inner Mongolia's Xingan League is emerging as a hub for green hydrogen and methanol production, leveraging its abundant wind energy resources and attracting major companies like China General Nuclear Power Group and Goldwind Technology [2][5]. Group 1: Project Development - The green hydrogen to green methanol project led by Goldwind Technology has garnered significant industry attention even before construction began [5]. - The project is set to commence construction in June 2024, with the first phase expected to be completed by October 2025, which is considered an accelerated timeline for such projects [5][6]. - The project aims to utilize local resources, including corn straw, to produce methanol, enhancing the region's agricultural advantages [7][8]. Group 2: Technological Innovation - The project integrates a technology chain that includes wind power, water electrolysis for hydrogen production, biomass gasification, and methanol synthesis, addressing the instability issues in wind power hydrogen production [9]. - The introduction of a 250,000-ton gasification furnace marks a significant advancement in the industry's scale and industrial production capabilities [9]. Group 3: Economic and Environmental Impact - The project is expected to create job opportunities and stimulate economic growth in the region, aligning with China's dual carbon goals [10]. - The green methanol produced will be utilized by major shipping companies, such as Maersk, for decarbonization efforts in the global shipping industry, showcasing the project's contribution to climate change mitigation [10]. Group 4: Strategic Vision - The Xingan League aims to position itself as a leader in the hydrogen economy by developing a comprehensive industrial ecosystem that includes hydrogen storage, transportation, and utilization [8][10]. - The region's strategy emphasizes vertical integration and resource sharing among enterprises to reduce production costs and foster long-term investment [8].

证券日报网讯 11月21日晚间，金风科技发布公告称，公司于2025年11月21日召开第九届董事会第八次 会议审议通过了《关于回购注销部分限制性股票的议案》，同意回购注销公司2024年限制性股票激励计 划首次授予中已离职及2024年度个人绩效考核不达标的激励对象已获授但尚未解除限售的127.90万股限 制性股票。 （编辑 任世碧） ...

格隆汇11月20日丨金风科技(002202.SZ)公布，截至本公告披露日，公司回购股份方案规定的回购实施 期限已过半，公司尚未实施回购A股股份。 ...

Core Viewpoint - The company is actively engaged in the energy storage sector, demonstrating significant technological advancements and successful project implementations [1] Group 1: Company Developments - The company has a comprehensive energy storage business that spans both domestic and international markets, focusing on grid-side and user-side applications [1] - The company has achieved technological self-sufficiency in various areas, including PACK design, energy storage system integration, BMS, PCS, EMS, and operation platforms for energy storage stations and electricity trading [1] - The company successfully completed China's first grid-connected wind-storage station's 220kV black start and microgrid short-circuit experiments, marking a significant breakthrough in its grid-connected technology [1] Group 2: Technological Achievements - The energy storage inverter with a capacity of 440kW PCS has successfully passed the grid connection testing conducted by the Electric Power Research Institute, further validating the company's technological capabilities [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 GOLDWIND SCIENCE&TECHNOLOGY CO., LTD.* 金風科技股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司 ) (Stock Code: 02208) 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲載列金風科技股份有限公司在深圳證券交易所網站刊登的《北京市競天公誠 律師事務所關於金風科技股份有限公司回購註銷部分限制性股票的法律意見 書》，僅供參閱。 承董事會命 金風科技股份有限公司 馬金儒 公司秘書 北京，2025年11月21日 於本公告日期，公司執行董事為武鋼先生及曹志剛先生；公司非執行董事為高 建軍先生、楊麗迎女士及張旭東先生；公司獨立非執行董事為曾憲芬先生、劉 登清先生及苗兆光先生；及公司職工代表董事為余寧女士。 *僅供識別 G 中国北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮政编码 100025 ...

海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲載列金風科技股份有限公司在深圳證券交易所網站刊登的《金風科技股份有限 公司第九屆董事會薪酬與考核委員會第二次會議決議》，僅供參閱。 承董事會命 金風科技股份有限公司 馬金儒 公司秘書 北京，2025年11月21日 於本公告日期，公司執行董事為武鋼先生及曹志剛先生；公司非執行董事為高建軍先生、楊 麗迎女士及張旭東先生；公司獨立非執行董事為曾憲芬先生、劉登清先生及苗兆光先生；及 公司職工代表董事為余寧女士。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 GOLDWIND SCIENCE&TECHNOLOGY CO., LTD.* 金風科技股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司 ) (Stock Code: 02208) 鉴于首次授予激励对象中 15 名激励对象已离职，2 名激励对象 2024 年度个人绩效考核不达标。根据《上市公司股权激励管理办 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 GOLDWIND SCIENCE&TECHNOLOGY CO., LTD.* 金風科技股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司 ) (Stock Code: 02208) 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 董事和高级管理人员持有和买卖公司股票的管理制度 第一章 总则 第一条 为加强金风科技股份有限公司（以下简称"公司"或"本公司"） 对董事和高级管理人员所持本公司股份及其变动的管理，根据《中华人民 共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》 （以下简称"《证券法》"）、《上市公司董事和高级管理人员所持本公司 股份及其变动管理规则》、《上市公司股东减持股份管理暂行办法》、《深 圳证券交易所上市公司自律监管指引第 10 号——股份变动管理》、《深 圳证券交易所上市公司自律监管指引第 18 号——股东及董事、高级管 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 GOLDWIND SCIENCE&TECHNOLOGY CO., LTD.* 金風科技股份有限公司 (於中華人民共和國註冊成立的股份有限公司) (Stock Code: 02208) 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲載列金風科技股份有限公司在深圳證券交易所網站刊登的《金風科技股份有限 公司信息披露管理制度》，僅供參閱。 承董事會命 金風科技股份有限公司 馬金儒 公司秘書 北京，2025年11月21日 於本公告日期，公司執行董事為武鋼先生及曹志剛先生；公司非執行董事為高建軍先生、楊 麗迎女士及張旭東先生；公司獨立非執行董事為曾憲芬先生、劉登清先生及苗兆光先生；及 公司職工代表董事為余寧女士。 *僅供識別 《深圳证券交易所股票上市规则》（以下简称"《深交所上市规则》"） 等相关法律、法规，及《金风科技股份有限公司章程》的有关规定， 制定本制度。 第 ...

Core Points - The company, Goldwind Technology, announced the repurchase and cancellation of 1.279 million restricted stocks due to 15 incentive recipients leaving the company and 2 not meeting performance standards for 2024 [1] - The total number of repurchased stocks represents 3.03% of the total restricted stocks granted and 0.03% of the company's total share capital [1] - The total amount allocated for this repurchase is approximately 5,054,310.10 yuan, sourced from the company's own funds [1]