证券代码：002518 证券简称：科士达 公告编号：2025-027 深圳科士达科技股份有限公司 关于召开 2025 年第一次临时股东会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 3、会议召开的合法、合规性：公司第六届董事会第二十三次会议 决议召开本次股东会，会议的召开符合有关法律、行政法规、部门规章、 规范性文件和《公司章程》等的规定。 4、会议召开日期和时间： （1）现场会议时间：2025年10月10日（星期五）下午16:30。 （2）网络投票时间：通过深圳证券交易所（以下简称"深交所"） 交 易 系 统 进 行 网 络 投 票 的 具 体 时 间 为 ： 2025 年 10 月 10 日 9:15—9:25,9:30—11:30和13:00—15:00；通过深交所互联网投票系统 投票的具体时间为：2025年10月10日9:15—15:00。 5、会议召开方式：现场表决与网络投票相结合的方式。公司将通 过深交所交易系统和互联网投票系统( http://wltp.cninfo.com.cn ) 向公司全体股东提供网络形式的投票平台，公司股东可以在 ...

证券代码：002518 证券简称：科士达 公告编号：2025-026 深圳科士达科技股份有限公司 第六届监事会第十九次会议决议公告 二、监事会会议审议情况 1、审议《关于公司<2025 年股票期权激励计划（草案）>及其摘要 的议案》 经认真审核，公司监事会成员一致认为：公司《2025年股票期权激 励计划（草案）》及其摘要的内容符合《公司法》、《证券法》、《上 市公司股权激励管理办法》等相关法律法规和规范性文件的规定。本次 股权激励计划的实施将有利于公司的持续发展，不存在明显损害公司及 全体股东利益的情形。 表决结果：同意3票，反对0票，弃权0票，审议通过本议案。 本议案尚需提交公司股东会审议，待股东会以特别决议方式审议通 过后实施。 2、审议《关于公司<2025年股票期权激励计划实施考核管理办法> 的议案》 本公司及监事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 深圳科士达科技股份有限公司（以下简称"公司"）第六届监事会 第十九次会议通知于2025年9月20日以微信、电子邮件等方式发出,会议 于2025年9月23日上午11:00在深圳市光明区高 ...

深圳科士达科技股份有限公司董事会薪酬与考核委员会 关于公司 2025 年股票期权激励计划相关事项的核查意见 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》"）、《上市公司股权 激励管理办法》（以下简称"《管理办法》"）《深圳证券交易所上市 公司自律监管指南第 1 号 ——业务办理》等法律法规、规范性文件及 《公司章程》的规定，深圳科士达科技股份有限公司（以下简称"公司"） 董事会薪酬与考核委员会对公司《2025 年股票期权激励计划(草案)》（以 下简称"《激励计划（草案）》"或"本激励计划"）及其他相关资料 进行核查后，现发表如下意见： 1．公司不存在《管理办法》等法律、法规规定的禁止实施股权激 励计划的情形，包括： （1）最近一个会计年度财务会计报告被注册会计师出具否定意见 或者无法表示意见的审计报告； （2）最近一个会计年度财务报告内部控制被注册会计师出具否定 意见或者无法表示意见的审计报告； （3）上市后最近 36 个月内出现过未按法律法规、公司章程、公 开承诺进行利润分配的情形； （4）法律法规规定不得实行股权激励的； （5）中国证监会认定的其 ...

证券代码：002518 证券简称：科士达 公告编号：2025-025 为了进一步建立、健全公司长效激励机制，吸引和留住优秀人才， 充分调动专业管理人才及核心技术（业务）骨干的积极性与创造性， 建立员工与公司共同发展的激励机制，将股东利益、公司利益和员工 个人利益进行有效统一，确保公司的战略目标和经营目标的实现，公 司拟实施2025年股票期权激励计划。 表决结果：同意5票，反对0票，弃权0票，审议通过本议案。 深圳科士达科技股份有限公司 第六届董事会第二十三次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 深圳科士达科技股份有限公司（以下简称"公司"）第六届董事 会第二十三次会议通知于2025年9月20日以微信、电子邮件等方式发 出，会议于2025年9月23日9:30在深圳市光明区高新园西片区七号路 科士达工业园会议室以现场结合通讯方式召开。本次会议应出席董事 7人，实际出席董事7人，公司监事、高管列席了本次会议。会议由董 事长刘程宇先生召集并主持。本次会议召开程序及出席情况符合《公 司法》、《公司章程》及有关法律、行政法规 ...

Market Overview - On September 19, the other power equipment sector rose by 0.09% compared to the previous trading day, with Xizi Clean Energy leading the gains [1] - The Shanghai Composite Index closed at 3820.09, down 0.3%, while the Shenzhen Component Index closed at 13070.86, down 0.04% [1] Stock Performance - Xizi Clean Energy (002534) closed at 15.61, up 5.76% with a trading volume of 350,100 shares and a turnover of 540 million yuan [1] - Keda Education (002335) closed at 73.69, up 5.29% with a trading volume of 498,900 shares and a turnover of 3.614 billion yuan [1] - Youyou Green Energy (301590) closed at 200.00, up 4.16% with a trading volume of 19,300 shares and a turnover of 388 million yuan [1] - Other notable performers include Power Source (600405) up 4.03% and Zhongheng Electric (002364) up 3.49% [1] Capital Flow - The other power equipment sector experienced a net outflow of 252 million yuan from institutional investors, while retail investors saw a net inflow of 478 million yuan [2][3] - The capital flow for key stocks shows that Keda Education had a net inflow of 263 million yuan from institutional investors, while Xizi Clean Energy had a net inflow of 38.21 million yuan [3]

Core Viewpoint - Recently, Keda (Jiangxi) Optical Technology Co., Ltd. was established with a registered capital of 50 million RMB, focusing on the production and sales of various medical devices and optical instruments [1] Company Summary - The legal representative of Keda (Jiangxi) Optical Technology Co., Ltd. is Shu Chuanjin [1] - The company has a registered capital of 50 million RMB [1] - The business scope includes the production of Class I and Class II medical devices, as well as the operation of Class III medical devices [1] Industry Summary - The company is involved in a wide range of activities including technology services, optical instrument manufacturing, and sales [1] - It also engages in the production and sales of electronic measuring instruments and components, as well as technical glass products [1] - The company provides various technology consulting services, including artificial intelligence public service platform technology consulting [1]

Core Viewpoint - The photovoltaic junction box is a critical component in photovoltaic power generation systems, responsible for collecting and connecting multiple photovoltaic strings, enhancing system reliability and operational convenience, and experiencing significant market growth driven by increasing demand for renewable energy solutions [1][6]. Industry Overview - The photovoltaic junction box market in China is projected to grow from 3.25 billion yuan in 2017 to 9.25 billion yuan in 2024, with a compound annual growth rate (CAGR) of 16.12% [1][6]. - The rapid expansion of photovoltaic installed capacity in China, which reached 88.7 million kilowatts in 2024, is a key driver for the junction box industry [4][6]. Industry Development Background - The global push for carbon neutrality and the increasing focus on renewable energy have led to a surge in photovoltaic power generation, benefiting the junction box market [4][6]. - In 2024, China's newly installed photovoltaic capacity is expected to be 27.7 million kilowatts, a year-on-year increase of 28% [4]. Industry Chain - The upstream of the photovoltaic junction box industry includes raw materials and components such as stainless steel, aluminum alloy, and various protective devices [5]. - The downstream applications encompass residential, commercial, agricultural photovoltaic systems, and photovoltaic power plants [5]. Industry Development Trends - The industry is moving towards greater intelligence and digitalization, integrating advanced data collection, remote monitoring, and intelligent diagnostic functions [9]. - Enhancements in efficiency and reliability are becoming core objectives for manufacturers, focusing on optimizing circuit design and using high-performance components [10]. - Environmental sustainability is increasingly integrated into the design and manufacturing processes, with a focus on recyclable materials and energy-efficient production methods [12]. Key Companies - Major companies in the photovoltaic junction box industry include Sungrow Power Supply Co., Ltd., Kstar Science & Technology Co., Ltd., and others, which are actively involved in the development and production of photovoltaic equipment [2][7]. - Sungrow reported a revenue of 22.513 billion yuan in the photovoltaic sector for the first half of 2025, reflecting a year-on-year growth of 4.84% [8]. - Kstar's revenue for the same period was 2.163 billion yuan, showing a year-on-year increase of 14.35% [8].

Core Insights - The article discusses the evolution of power supply architectures in data centers, highlighting the shift towards more efficient technologies such as 800V HVDC and SST, with expectations for significant adoption by 2028 and 2030 respectively [2][4][11]. Group 1: Power Supply Architecture Evolution - The current power supply in data centers is primarily centralized (Powershelf), but with the rise of AI workloads, a transition to Sidecar power supply mode is anticipated around 2026-2027, with single cabinet power reaching 250-1500 kW [2][4]. - By 2030, the market is expected to gradually adopt SST power supply architecture, which is projected to achieve a full-link efficiency of 91.2%, surpassing the current UPS architecture efficiency of 85.8% [6][11]. Group 2: 800V HVDC Technology - 800V HVDC is gaining attention for its efficiency and space-saving benefits, potentially increasing end-to-end efficiency to 95-98% compared to traditional UPS systems, while reducing copper usage by 45% and floor space by 40% [11][12]. - Despite its advantages, 800V HVDC faces challenges such as higher initial costs (20-30% more than traditional UPS) and unclear market standards, necessitating industry-wide collaboration for its advancement [11][12]. Group 3: New UPS Technologies - A new type of simplified UPS has been introduced, eliminating the traditional AC/DC rectification stage, which allows for 0ms switching and improved IT performance [15][16]. - This new UPS operates in three modes: normal operation, energy storage during power outages, and combined power supply when load exceeds UPS limits [15][16]. Group 4: Power Supply Technology Upgrades - Upgrades in power supply technology focus on new materials, topologies, and functionalities, with significant advancements in power devices such as SiC MOSFETs replacing Si IGBTs [18][22]. - The integration of passive components like capacitors and inductors is seen as a bottleneck for future integrated power solutions, with expectations for higher integration levels in the coming years [22][24]. Group 5: Addressing GPU Load Fluctuations - The article highlights the challenges posed by GPU load fluctuations in data centers, which can cause significant power quality issues [24][26]. - Solutions for mitigating these fluctuations include using supercapacitors on the DC side and enhancing power supply unit (PSU) designs to accommodate larger capacitors for better load smoothing [26][30]. Group 6: FIVR Technology - FIVR (Fully Integrated Voltage Regulator) is emerging as a promising technology for DC-DC terminal power supply, offering significant improvements in size, thickness, and dynamic response compared to traditional power supplies [33][34]. - This technology integrates power supply directly into the chip, reducing component count and achieving faster response times, although it imposes stringent requirements on inductor size and performance [33][34].

Market Overview - On September 18, the other power equipment sector declined by 1.44%, with Haibo Sichuang leading the drop [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Stock Performance - Key stocks in the other power equipment sector showed mixed performance, with Keda's stock price increasing by 2.79% to 39.44, while Haibo Sichuang's stock price fell by 5.43% to 198.60 [1][2] - The trading volume and turnover for Keda reached 358,000 shares and 1.397 billion yuan, respectively [1] Capital Flow - The other power equipment sector experienced a net outflow of 974 million yuan from main funds, while retail investors saw a net inflow of 949 million yuan [2][3] - Notable stocks like Keda and New Power had varying net inflows and outflows from main and retail investors, indicating differing investor sentiment [3]

Core Viewpoint - The photovoltaic ETF (159857) has shown significant trading activity and net subscriptions, indicating strong investor interest in the solar industry despite ongoing supply-demand mismatches in the sector [3][5]. Group 1: ETF Performance - As of September 18, 2025, the photovoltaic ETF (159857) recorded a turnover of 8.33% with a transaction volume of 207 million yuan [3]. - The ETF has seen a net subscription of 42 million shares during the trading session, reflecting a positive market sentiment [3]. Group 2: Industry Trends - The photovoltaic industry is experiencing a recovery in pricing, with polysilicon prices stabilizing around 50,000 yuan per ton as of mid-September [8]. - The price of silicon wafers has also shown improvement, reaching between 1.3 to 1.65 yuan per piece, allowing companies to achieve slight profits [8]. - The component market is witnessing rational price increases, with a recent tender by Huadian Group for double-sided double-glass components showing an average bid price exceeding 0.71 yuan/W [8]. Group 3: Institutional Insights - Guohai Securities suggests that the renewable energy sector, particularly solar power, is poised to benefit from a reduction in "involution" competition, leading to a gradual recovery in profitability across the industry [9]. - The solar sector is highlighted as a representative industry of this "anti-involution" trend, with expectations of policy support continuing into the second half of 2024 [9]. - Guojin Securities reports a significant increase in domestic energy storage system and EPC bidding, with a year-on-year growth of 521.7% and 517.4% respectively in August 2025 [9]. Group 4: International Market Dynamics - The overseas energy storage market is experiencing a surge in orders, leading to high demand for storage cells and systems, with major domestic companies unable to meet new demand due to full production lines [10].