香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不就因本申請版本全部或任何部分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。 DAJIN HEAVY INDUSTRY CO., LTD. 大金重工股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監 會」）的要求而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資訊並不完整，亦可能會作出重大變動。 閣下閱覽本文件， 即代表 閣下知悉、接納並向本公司、其聯席保薦人、整體協調人、聯席全球協調人、顧問或 包銷團成員表示同意： 於本公司招股章程根據香港法例第32章《公司（清盤及雜項條文）條例》送呈香港公司註冊處處 長註冊前，不會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提出要約或邀 請，準投資者務請僅依據與香港公司註冊處處長註冊的本公司招股章程作出投資決定；有關文 本將於發售期內供公眾人士查閱。 (a) 本文件僅為向香港公眾 ...

Investment Rating - The report maintains a positive investment outlook across various sectors, particularly in hydrogen energy, wind power, and lithium batteries, indicating strong growth potential and investment opportunities [1][2][3][4][5][6][9][23]. Core Insights - The energy revolution is shifting focus towards decarbonization in non-electric sectors, with green hydrogen and methanol as key pathways, presenting multiple investment opportunities in production and equipment [1][5][6][7]. - The wind power sector is experiencing significant developments, with major projects in Italy and Thailand, indicating robust overseas expansion for leading companies [9][10][11][12]. - The lithium battery market is witnessing strong demand driven by the energy storage sector and the upcoming peak consumption season for electric vehicles, leading to price increases [23][24]. Summary by Sections Hydrogen and Fuel Cells - The market is recognizing the potential of green hydrogen and methanol, with significant growth expected in various applications such as transportation and chemicals [1][5][6][7]. - The demand for green methanol in shipping is projected to rise, with regulatory frameworks supporting its adoption [7]. Wind Power - Major investments in floating wind projects in Italy are set to commence, with expectations for significant contributions to the European offshore wind market [9][10]. - Companies like Mingyang and Goldwind are expanding their overseas operations, enhancing their competitive edge [11][12]. Lithium Batteries - The lithium battery sector is entering a strong demand phase, with significant procurement activity from end-users in both energy storage and electric vehicles [23][24]. - The market for lithium hexafluorophosphate (6F) is experiencing price increases due to tight supply conditions [23][24]. Electric Grid and Industrial Control - The export of major electrical equipment is on the rise, with significant growth in transformers and high-voltage switches, indicating a long-term positive outlook for overseas demand [26][27]. - Companies in the industrial control sector are launching new products aimed at enhancing efficiency and performance in robotics [28][29]. New Energy Vehicles - The domestic market for new energy vehicles is showing strong sales growth, with significant increases in both retail and wholesale volumes [30].

Investment Rating - The report maintains a "Buy" rating for key companies in the electric equipment and new energy sector, including CATL, Keda, and others, indicating a positive outlook for the industry [5]. Core Insights - The electric equipment and new energy sector saw a weekly increase of 3.86%, outperforming the Shanghai Composite Index, which rose by 0.21% [1]. - In August, the total electricity consumption in China exceeded 1 trillion kWh, marking a year-on-year growth of 5.0% [4]. - The report highlights the launch of new electric vehicles, including the AITO Wenjie M7 and H5, which offer various configurations and competitive pricing [2][10]. - Solar power generation capacity increased by 230.61 GW year-on-year, although August saw a month-on-month decline in new installations [3][37]. Summary by Sections New Energy Vehicles - The AITO Wenjie M7 was launched on September 23, 2025, with 12 configurations and a price range of 279,800 to 379,800 CNY, featuring both range-extended and pure electric versions [2][10]. - The H5 model was also launched, priced between 159,800 and 199,800 CNY, offering similar powertrain options [2][12]. New Energy Generation - As of August 2025, the solar power generation capacity added 230.61 GW, a 64.73% increase year-on-year, but the monthly addition in August was 7.36 GW, down 55.29% year-on-year [3][37]. - The report notes a slight increase in inverter exports, with a total of 434.02 billion CNY from January to August 2025, reflecting a 7.85% year-on-year growth [30][31]. Electric Equipment and Industrial Control - Total electricity consumption in August reached 1,015.4 billion kWh, with a cumulative total of 6,878.8 billion kWh from January to August, representing a 4.6% year-on-year increase [4]. - The report emphasizes the importance of key companies such as CATL, Keda, and others in driving growth within the sector [4][5]. Weekly Market Performance - The electric equipment and new energy sector outperformed the broader market, with significant trading volumes reported [1][4]. - Key companies to watch include CATL, Keda, and others, which are expected to benefit from ongoing industry trends [4][5].

Core Viewpoint - The wind power sector is experiencing a strong rally, with companies like Mingyang Smart Energy and Jixin Technology hitting the daily limit up, while others like Tianneng Heavy Industry and Daikin Heavy Industries also see significant gains. This surge is driven by a positive outlook from Wood Mackenzie regarding global wind power capacity growth [1]. Industry Summary - Wood Mackenzie's latest report projects that the global annual新增风电装机容量 will exceed 170 gigawatts over the next five years. This growth is expected to accelerate further after 2028, reaching a peak of 200 gigawatts by 2034 [1].

Core Viewpoint - The wind power equipment sector has shown significant strength, with multiple companies experiencing substantial stock price increases, indicating a positive market sentiment towards the industry [1] Group 1: Market Performance - Jixin Technology (601218) has achieved two consecutive trading limits, while Riyue Co. (603218), Mingyang Smart Energy (601615), and Weili Transmission (300904) have reached their daily price limits [1] - Other companies such as Tianneng Heavy Industry (300569) and Pangu Intelligent (301456) have seen stock price increases exceeding 10% [1] - Companies like Tongyu Heavy Industry (300185), Tianshun Wind Energy (002531), Xinqianglian (300850), Dajin Heavy Industry (002487), and Feiwo Technology (301232) have also experienced upward trends in their stock prices [1] Group 2: Industry Insights - Ping An Securities highlights that the hydrogen and ammonia business is essentially an extension of the power station business [1] - Following the implementation of Document No. 136, there were initial concerns regarding the development prospects of wind turbine companies' power station businesses [1] - With policy support for green liquid fuels and increased investments by wind turbine companies in hydrogen and ammonia, the potential for power station business has expanded [1] - The current environment presents a threefold resonance for wind turbine companies, including an upward turning point in domestic wind turbine manufacturing profitability, upcoming performance realization from overseas markets, and an increase in hydrogen and ammonia contributions to power station businesses [1] - The outlook for investment opportunities in wind power equipment manufacturers is positive [1]

责任编辑：小浪快报 截至9月10日，大金重工股东户数5.33万，较上期增加7.71%；人均流通股11841股，较上期减少7.16%。 2025年1月-6月，大金重工实现营业收入28.41亿元，同比增长109.48%；归母净利润5.47亿元，同比增长 214.32%。 分红方面，大金重工A股上市后累计派现2.70亿元。近三年，累计派现1.85亿元。 机构持仓方面，截止2025年6月30日，大金重工十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股1941.21万股，相比上期增加697.67万股。易方达品质动能三年持有混合A（014562）位居 第四大流通股东，持股862.02万股，相比上期减少27.00万股。易方达新经济混合（001018）位居第八大 流通股东，持股490.00万股，相比上期减少25.20万股。易方达科翔混合（110013）位居第九大流通股 东，持股480.87万股，相比上期减少24.73万股。南方中证500ETF（510500）退出十大流通股东之列。 9月24日，大金重工涨4.23%，成交额12.34亿元。两融数据显示，当日大金重工获融资买入额1.71亿 元，融资偿还1.58亿元， ...

（记者 曾健辉） 每经头条（nbdtoutiao）——报价太低遭严防，投标企业还得"解释清楚"，一场国家组织的大型采购， 为何引发全行业关注 每经AI快讯，*ST绿康9月23日晚间发布公告称，公司第五届第二十二次董事会临时会议于2025年9月22 日在公司综合办公楼二楼第一会议室以现场结合通讯会议方式召开。会议审议了《关于批准本次交易有 关的加期审计报告、备考审阅报告及更新资产评估报告的议案》等文件。 ...

Core Viewpoint - The shipping sector experienced a slight increase of 0.12% as of September 23, with notable stocks like Nanjing Port and Ningbo Shipping hitting the daily limit up, while others like Jushen Co. and Haixia Co. saw significant declines [1] Group 1: Market Performance - The shipping concept ranked 7th in terms of daily increase among various sectors, with 40 stocks rising [1] - Nanjing Port and Ningbo Shipping both achieved a daily increase of 10%, while Ningbo Ocean and Lianyungang rose by 7.72% and 5.23% respectively [1] - The largest declines were seen in Jushen Co. at -8.35%, Haixia Co. at -5.12%, and Baoshui Technology at -3.42% [1] Group 2: Capital Flow - The shipping sector saw a net outflow of 361 million yuan, with 27 stocks receiving net inflows [1] - Ningbo Shipping led the net inflow with 286 million yuan, followed by Nanjing Port with 225 million yuan and Ningbo Ocean with 82.5 million yuan [1] - The net inflow ratios for Nanjing Port, Ningbo Shipping, and Guangzhou Port were 40.61%, 30.17%, and 11.06% respectively [2] Group 3: Stock Performance - The top performers in terms of net inflow included Ningbo Shipping, Nanjing Port, and Ningbo Ocean, with respective net inflows of 286.4 million yuan, 225.2 million yuan, and 82.5 million yuan [2][3] - Stocks like Jushen Co. and Haixia Co. faced significant outflows, with Jushen Co. experiencing a net outflow of over 10 million yuan [6]

Core Viewpoint - The rapid development of China's wind power industry is driving significant growth in the demand for wind turbine blades and their core materials, particularly in the wind blade core material sector, which is expected to see its market size increase from 7.35 billion yuan in 2021 to 14.05 billion yuan in 2025, reflecting an 18.1% year-on-year growth [1][6]. Wind Blade Core Material Industry Overview - Wind blades are the core components of wind turbines, responsible for converting wind energy into mechanical energy, which is then transformed into electrical energy [2]. - The manufacturing materials for wind blades include various components such as reinforcement materials, core materials, matrix materials, surface coatings, and structural adhesives [2]. Key Materials in Wind Blade Structure - Core materials, which are crucial for enhancing the structural integrity of wind blades, are typically used in the skin and web of the blades to improve stiffness and reduce weight [3][4]. - Common core materials include balsa wood, PVC foam, and PET foam, with balsa wood being the primary material due to its favorable compressive and shear strength [3][4]. Industry Chain of Wind Blade Core Materials - The upstream of the wind blade core material industry consists of raw materials like balsa wood, PVC, and PET, with a high dependency on imports for balsa wood [4]. - The midstream involves the production and manufacturing of core materials, while the downstream pertains to the application in wind blade manufacturing [4]. Market Size and Growth - The market size for the wind blade industry in China is projected to grow from 29.4 billion yuan in 2021 to 56.2 billion yuan in 2025, driven by increasing installed capacity [5][6]. - The wind blade core material market is expected to expand from 7.35 billion yuan in 2021 to 11.9 billion yuan in 2024, with a forecasted growth to 14.05 billion yuan in 2025 [1][6]. Competitive Landscape - Key players in the wind blade core material industry include both wind blade manufacturers and specialized core material producers, such as Tian Sheng New Materials and Jiangsu Changyou Environmental Technology [8][9]. - Companies are focusing on vertical integration to reduce costs and enhance competitiveness in the market [8]. Development Trends in the Industry - The trend towards larger and lighter wind blades is driving demand for improved core materials, which must meet higher performance and cost-efficiency standards [12]. - PET foam is anticipated to become the mainstream material in the future due to its mechanical strength, lower cost, and recyclability compared to balsa wood and PVC foam [13]. - The demand for wind blade core materials is expected to rise in line with the increasing global demand for clean energy and the growth of wind power installations in China [14].

Group 1 - The company, Daikin Heavy Industries, primarily produces and sells offshore wind power equipment, including monopiles, transition pieces, jackets, floating foundations, and towers [2]