| | | 证券代码：002459 证券简称：晶澳科技 公告编号：2026-006 债券代码：127089 债券简称：晶澳转债 晶澳太阳能科技股份有限公司 关于 2026 年度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。 一、合并报表范围内担保情况概述 | 序 | | | 实际发生 | 担保金额 | | | | --- | --- | --- | --- | --- | --- | --- | | 号 | 担保方 | 被担保方 | 日期 | （万元） | 担保期 | 担保事由 | | | 晶澳太阳能科技股份 | 上海晶澳太阳能科技 有限公司、晶澳太阳能 国际有限公司-JA Solar International | | | | 为其融资提 | | 1 | 有限公司 | Limited、合肥晶澳太阳 能科技有限公司、义乌 晶澳太阳能科技有限 | 2026/1/1 | 214,401.00 | 1 年期 | 供担保 | | | | 公司、晶澳（扬州）新 能源有限公司 | | | | | | 2 | 晶澳太阳能科技股份 有限公司 | 鄂尔多 ...

Core Viewpoint - The article highlights the emerging trend of "space photovoltaics" in the A-share market, driven by the rapid development of commercial aerospace and the need for upgraded power systems in satellite constellations [1]. Industry Chain - The space photovoltaic industry chain includes various components such as photovoltaic auxiliary materials, photovoltaic cells, and photovoltaic equipment, with key players like Double Good Energy, Junda Co., and Trina Solar [3]. Institutional Interpretation - As China's low-orbit satellite constellations enter a phase of intensive deployment, the industry is expected to undergo significant transformation, with a focus on manufacturing and technological advancements [4][11]. Market Potential - Space photovoltaics are projected to achieve commercialization within the next 10 to 15 years, with the Chinese low-orbit satellite photovoltaic market expected to exceed $3 billion by 2030. If the deployment reaches 100GW for space data centers, the global market could reach between $500 billion to $1 trillion [5][12]. Technological Advantages - Space photovoltaics can generate power continuously, unaffected by day-night cycles or weather changes, achieving 7-10 times the annual generation hours and energy density compared to ground-based photovoltaics [10]. Recent Developments - The recent acquisition of xAI by SpaceX aims to create a vertically integrated innovation engine, which is expected to enhance SpaceX's space computing capabilities, directly benefiting the space photovoltaic industry [9].

Core Viewpoint - The A-share market is witnessing a surge in space photovoltaic concept stocks, driven by the strategic importance of space-based artificial intelligence and the global competition for low Earth orbit resources [1] Group 1: Market Performance - Foster (福斯特) reached a limit-up increase of 10%, with a total market value of 48.8 billion and a year-to-date increase of 33.95% [2] - Junda Co. (钧达股份) rose by 7.25%, with a market value of 33.4 billion and a year-to-date increase of 96.78% [2] - JA Solar Technology (晶澳科技) increased by 6.14%, with a market value of 39.5 billion and a year-to-date increase of 4.10% [2] - Trina Solar (天合光能) saw a rise of 5.58%, with a market value of 46.5 billion and a year-to-date increase of 20.06% [2] - Other notable increases include: - Flat Glass Group (福莱特) at 5.56% [2] - Yamaton (亚玛顿) at 5.44% [2] - Aiko Solar (爱旭股份) at 5.39% [2] - Zhonglai Co. (中来股份) at 4.40% [2] Group 2: Industry Insights - CITIC Securities emphasizes that space photovoltaics are not merely speculative but are on the verge of large-scale deployment, driven by new demands from "space computing power + AI" and the ongoing competition for low Earth orbit resources [1] - The development of space photovoltaics is linked to national strategic needs for satellite deployment, communication capabilities, and the integration of computing power and AI [1] - CICC notes that with the booming commercial space sector, space photovoltaics are becoming a core direction for upgrading power systems, moving towards a new phase of technological advancement and industrial delivery [1]

2月3日，A股市场太空光伏（核心股）概念股走强，其中，福斯特涨停，钧达股份涨超7%，晶澳科技 涨超6%，天合光能、福莱特、亚玛顿、爱旭股份涨超5%，中来股份涨超4%。SpaceX称，基于太空的 人工智能是扩大该技术规模的唯一途径。 中信证券指出，太空光伏（核心股）并非炒作，正在进入规模化部署的前夜。太空光伏的爆发，不仅源 于"太空算力（核心股）+AI"的新需求，更深层的驱动力，是全球正在激烈上演的"低轨轨道资源争夺 战"。中国加速部署卫星星座，首先是战略占轨，其次是构建通信能力，最后才是在此基础上叠加算力 与AI。太空光伏它始于国家战略的紧迫占轨，成于通信星座的大规模部署，爆发于AI算力的能源革 命。这不是PPT故事，而是一条清晰的"轨道→通信→算力"演进链条。 中金指出，商业航天（核心股）蓬勃发展背景下，太空光伏（核心股）作为其电源系统升级的核心方 向，在星座批量组网的牵引下正迈向技术路线升级与产业化交付的新阶段。随着我国低轨星座进入密集 部署期、单星功率持续上行叠加太空算力（核心股）等新应用场景推进探索，建议把握太空光伏带来的 全产业链变革，持续关注制造产业端落地密集催化。 | 代码 | 名称 | | 涨 ...

消息面上，隆基绿能、晶澳科技等龙头企业密集推出股权激励计划，目标直指2026年扭亏为盈，释放行业复苏积极信号。同时，国内 光伏企业加速全球化布局，在东南亚构建"规避壁垒+就近供应"的产能体系，在中东通过"项目+制造"模式深度绑定本地能源转型，形 成全产业链出海新格局。 此外，得益于"反内卷"工作持续推进，目前，光伏行业正迎来拐点。中国光伏行业协会公布的最新数据显示，截至2025年11月，多晶 硅、硅片、电池片、组件均价分别较2025年初上涨38.9%、2.2%、0.4%、2.3%。 浙商证券表示，坚定看好行业拐点，需求复苏带动盈利修复。认为光伏行业拐点信号已现，一是2025年三季度多晶硅价格环比上涨 47%，带动部分企业减亏；二是龙头企业股权激励释放信心，目标2026年扭亏为盈；三是基金对光伏设备配置比例见底，回到2020年 行情启动前水平。预计2025年全球光伏新增装机570-630GW，同比增长8-19%，其中国内270-300GW；2026年硅料收储推动供给收 缩，需求复苏带动行业走出下行周期。 值得关注的是，中证光伏产业指数自基日(2012年12月31日)至2026年1月13日期间涨幅为206.55% ...

1月29日，晶澳科技盘中上涨2.02%，截至10:22，报12.12元/股，成交3.96亿元，换手率1.01%，总市值 401.13亿元。 资金流向方面，主力资金净流入2572.08万元，特大单买入2223.47万元，占比5.61%，卖出1249.37万 元，占比3.15%；大单买入8618.60万元，占比21.76%，卖出7020.62万元，占比17.73%。 晶澳科技今年以来股价涨5.85%，近5个交易日涨6.32%，近20日涨4.12%，近60日跌13.18%。 责任编辑：小浪快报 截至9月30日，晶澳科技股东户数14.78万，较上期减少17.24%；人均流通股22370股，较上期增加 20.84%。2025年1月-9月，晶澳科技实现营业收入368.09亿元，同比减少32.27%；归母净利润-35.53亿 元，同比减少633.54%。 分红方面，晶澳科技A股上市后累计派现30.55亿元。近三年，累计派现24.15亿元。 资料显示，晶澳太阳能科技股份有限公司位于北京市丰台区汽车博物馆东路1号院诺德中心8号楼,香港 湾仔皇后大道东248号大新金融中心40楼，成立日期2000年10月20日，上市日期2010年 ...

| 代码 | 名称 | | 涨幅% ↑ | 总市值 | 年初至今涨幅%。 | | --- | --- | --- | --- | --- | --- | | 300118 | 东方日升 | 1 | -7.33 | 242亿 | 44.95 | | 603806 | 福斯特 | | -5.34 | 463亿 | 27.08 | | 002865 | 钧达股份 | 1 | -5.08 | 289亿 | 80.97 | | 002506 | 协鑫集成 | 1 | -4.61 | 206亿 | 25.71 | | 688599 | 天合光能 | 长 | -4.53 | 464亿 | 19.58 | | 605117 | 德业股份 | 1 | -4.40 | 820亿 | 4.64 | | 600537 | 亿闘米甲 | | -4.14 | 38.35亿 | -22.12 | | 300274 | 阳光电源 | 1 | -4.01 | 3148亿 | -11.23 | | 300554 | 三超新材 | 报 | -3.80 | 29.51亿 | 11.43 | | 603398 | *ST沐邦 | | -3.10 | ...

润阳股份之后，光伏又现又"债转股"案例。1月22日，华民股份（300345）召开第五届董事会第二十次 会议，审议通过了《关于控股子公司增资扩股引入外部投资者的议案》。 | 公司名称 | 晶澳(无锡)光伏科技有限公司 | | --- | --- | | | | | 企业性质 | 有限责任公司(非自然人投资或控股的法人独资) | 根据公司经营发展需要，为进一步增强控股子公司鸿新新能源科技（云南）有限公司（简称"鸿新新能 源"）资本实力，优化资本结构，降低资产负债率，公司拟与鸿新新能源、晶澳（无锡）光伏科技有限 公司（简称"晶澳无锡"）签订《债权重组暨投资协议》，晶澳无锡以债转股方式对鸿新新能源进行增资 扩股。 晶澳无锡按照投前估值10亿元人民币，以其对鸿新新能源享有的20,000万元债权以债转股的方式对鸿新 新能源进行增资，其中11,600万元计入注册资本，8,400万元计入资本公积。鸿新新能源现有股东（公司 及其他股东）均放弃对前述增资的优先认购权。本次增资完成后，鸿新新能源注册资本将增加至 70,687.50万元，公司持有鸿新新能源的股权比例将变更为73.74%，鸿新新能源仍为公司合并报表范围 内子公司。 截 ...

Core Viewpoint - The photovoltaic industry is undergoing a deep reform to combat internal competition, with regulatory measures and policy adjustments reflecting a commitment to high-quality development. However, many companies are still facing significant losses, indicating that this battle is not a short-term fix but a necessary step to resolve structural issues within the industry [2][5]. Industry Performance - Major companies like Tongwei Co., Ltd. and LONGi Green Energy are projected to incur substantial losses in 2025, with estimated net losses of 9 to 10 billion yuan and 6 to 6.5 billion yuan respectively. Other companies such as JA Solar, JinkoSolar, and Trina Solar are also expected to report significant losses, highlighting the severe challenges faced by the industry [2][3]. - The average gross margin for the entire industry is only 3.64%, with many companies trapped in a cycle of "production equals loss" due to oversupply and rising raw material costs [3][4]. Causes of Losses - The industry's performance crisis is primarily attributed to excessive homogenous production capacity and fierce price competition, compounded by soaring raw material costs. The supply of silicon materials is projected to exceed global demand by more than double over the next three years, leading to a significant imbalance [3][4]. - The price of silver, a key material in photovoltaic cells, has surged by 231% in 2025, pushing companies to adopt cost-cutting measures at the expense of technological innovation and quality [4][5]. Recommendations for Improvement - Companies must shift their focus from price competition to technological innovation and quality improvement, investing in advanced battery technologies such as TOPCon, BC, and ABC to enhance efficiency and reduce costs [4][6]. - The industry needs to establish self-regulatory standards to combat unfair competition practices, such as selling below cost and misrepresenting product capabilities, while promoting collaboration among companies to consolidate resources [4][6]. Government Role - Government policies and regulatory actions are crucial for supporting the industry's reform efforts. A unified and clear policy direction is necessary to stabilize market expectations and foster industry consensus [5][6]. - Regulatory bodies should enhance oversight on low-price dumping and set higher energy consumption and environmental standards for mature production stages, while also optimizing bidding rules to prioritize technology and quality over price [5][6]. Future Outlook - The photovoltaic industry is at a critical juncture, with the potential for recovery as companies begin to reduce losses and improve profitability. Analysts suggest that the industry may see a turning point in profitability by early 2026 [6][7]. - A collaborative effort between companies and government is essential to ensure that innovation becomes the cornerstone of industry development, allowing China to transition from a manufacturing hub to a center of innovation in the global energy transformation [7].

Core Viewpoint - The photovoltaic (PV) industry in A-shares is facing significant losses, with many leading companies projecting substantial pre-loss figures for 2025 due to a challenging operating environment and supply-demand imbalances [2][3]. Group 1: Financial Performance and Projections - Major PV companies are expected to report significant pre-loss figures for 2025, including Tongwei Co. with a projected loss of 9 to 10 billion yuan, LONGi Green Energy with 6 to 6.5 billion yuan, and JinkoSolar with 5.9 to 6.9 billion yuan [2]. - The overall operating environment remains difficult, with many companies experiencing nine consecutive quarters of losses since Q4 2023, driven by price declines and insufficient end-demand [3]. Group 2: Industry Dynamics - The PV module prices are under pressure due to "involutionary competition" and a lack of terminal demand, with market transaction prices around 0.6 yuan per watt expected in mid-2025 [3]. - The industry is witnessing a supply surplus, with production rates declining across various segments, while core material prices, such as silver, continue to rise [3]. Group 3: Recovery Efforts and Future Goals - Some companies are beginning to emerge from the loss cycle, with LONGi Green Energy projecting a maximum reduction in losses of 30.38% and Aiko Solar up to 77.44% compared to 2024 [4]. - The China Photovoltaic Industry Association noted a 16.9% year-on-year decline in revenue for the main industry chain in the first three quarters of 2025, but an improvement in gross margins to 3.64% [4]. - Several leading PV companies have set profit targets for 2026, with Trina Solar aiming for a net profit of no less than 200 million yuan and LONGi Green Energy targeting positive net profits in subsequent years [5].