Group 1 - The Zhongzheng Photovoltaic Industry Index (931151) has shown a strong increase of 2.50% as of September 11, 2025, with significant gains in constituent stocks such as Juhe Materials (688503) up by 11.56% and Kehua Data (002335) up by 10.01% [2] - The Photovoltaic ETF Fund (516180) has risen by 1.80%, with the latest price reported at 0.74 yuan, and has accumulated a weekly increase of 4.78% as of September 10, 2025, ranking 3rd among comparable funds [2] - The Zhongzheng Photovoltaic Industry Index selects up to 50 representative listed companies from the photovoltaic industry chain to reflect the overall performance of these securities [2] Group 2 - As of August 29, 2025, the top ten weighted stocks in the Zhongzheng Photovoltaic Industry Index include Yangguang Electric (300274), Longi Green Energy (601012), and TCL Technology (000100), collectively accounting for 56.14% of the index [3] - The weight and performance of the top stocks are as follows: Yangguang Electric at 10.51% with a rise of 4.61%, Longi Green Energy at 9.97% with a slight increase of 0.17%, and TCL Technology at 9.42% with a rise of 1.37% [5]

Group 1 - The liquid cooling server concept saw significant gains on September 11, with Industrial Fulian hitting the daily limit and reaching a historical high, with a total market value exceeding 1.17 trillion yuan [1] - Previously, Chunzhong Technology achieved three consecutive trading limits, while Yidong Electronics, Fangsheng Shares, and Jiechuan Intelligent all rose over 10% [1] - Other companies such as Shuguang Digital Innovation, Keshida, Runhe Materials, and Dayuan Pump Industry also experienced notable increases in their stock prices [1]

Core Viewpoint - The company is optimistic about the growth prospects of its "data center + new energy" business segments, expecting both to show growth by the first half of 2025 [1] Group 1: Data Center Business - The data center business is considered the company's core area, benefiting from a new wave of infrastructure investment in the industry [1] - The company is seizing opportunities in the data center sector, which is experiencing significant growth [1] Group 2: New Energy Business - The new energy segment is viewed as having substantial earnings elasticity, with a recovery in demand from the European energy storage market and a boost from emerging markets [1] - The new energy business has returned to a growth trajectory, indicating positive performance outlook [1] Group 3: Industry Outlook - The company holds a positive long-term outlook for the industries it operates in, reflecting confidence in mid to long-term development trends [1]

Core Viewpoint - Kstar's stock price has shown significant growth this year, with a year-to-date increase of 55.92%, indicating strong market performance and investor interest [1][2]. Company Overview - Kstar Technology Co., Ltd. is based in Shenzhen, Guangdong, and specializes in the research, production, and sales of UPS systems and valve-regulated sealed lead-acid batteries. The company was established on March 17, 1993, and went public on December 7, 2010 [1]. - The main revenue sources for Kstar are the data center industry (61.44%) and the new energy sector (37.60%), with a small portion from other sources (0.96%) [1]. Financial Performance - For the first half of 2025, Kstar reported a revenue of 2.163 billion yuan, representing a year-on-year growth of 14.35%. The net profit attributable to shareholders was 255 million yuan, reflecting a growth of 16.49% [2]. - Kstar has distributed a total of 1.544 billion yuan in dividends since its A-share listing, with 602 million yuan distributed over the past three years [2]. Stock Market Activity - As of September 10, Kstar's stock price was 34.77 yuan per share, with a market capitalization of 20.244 billion yuan. The stock experienced a trading volume of 147 million yuan and a turnover rate of 0.76% [1]. - The stock has been active on the龙虎榜 (a stock trading list in China), with significant net buying and selling activity noted on September 8, where the net buying was -77.3995 million yuan [1]. Shareholder Structure - As of June 30, 2025, Kstar had 52,000 shareholders, a decrease of 24.64% from the previous period. The average number of circulating shares per shareholder increased by 32.69% to 10,868 shares [2][3]. - Major shareholders include Hong Kong Central Clearing Limited and various ETFs, indicating a diversified institutional interest in Kstar's stock [3].

科士达今日下跌6.66%，全天换手率5.43%，成交额10.59亿元，振幅7.64%。龙虎榜数据显示，机构净卖 出6172.95万元，深股通净买入31.26万元，营业部席位合计净卖出1598.26万元。 深交所公开信息显示，当日该股因日跌幅偏离值达-7.56%上榜，机构专用席位净卖出6172.95万元，深 股通净买入31.26万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交4.47亿元，其中，买入成交额为1.85亿 元，卖出成交额为2.62亿元，合计净卖出7739.95万元。 融资融券数据显示，该股最新（9月5日）两融余额为4.27亿元，其中，融资余额为4.26亿元，融券余额 为122.68万元。近5日融资余额合计减少1.24亿元，降幅为22.53%，融券余额合计减少26.06万元，降幅 17.52%。 机构评级来看，近5日共有2家机构评级买入。预计目标价最高的是华泰证券，9月4日华泰证券发布的研 报给予公司目标价位40.28元。（数据宝） 科士达9月8日交易公开信息 | 买/卖 | | 会员营业部名称 | 买入金额（万元） | 卖出金额（万元） | | --- | --- | --- | - ...

Market Overview - The other power equipment sector experienced a decline of 0.56% on September 8, with Keda leading the drop [1] - The Shanghai Composite Index closed at 3826.84, up 0.38%, while the Shenzhen Component Index closed at 12666.84, up 0.61% [1] Stock Performance - Notable gainers in the other power equipment sector included: - Youyou Green Energy (code: 301590) with a closing price of 201.05, up 8.38% and a trading volume of 32,400 lots, totaling 663 million yuan [1] - Tonghe Technology (code: 300491) closed at 40.16, up 7.84% with a trading volume of 250,700 lots, totaling 1 billion yuan [1] - Aikesaibo (code: 688719) closed at 41.05, up 7.18% with a trading volume of 58,100 lots, totaling 229 million yuan [1] - Conversely, significant decliners included: - Keda (code: 002518) closed at 34.18, down 6.66% with a trading volume of 306,800 lots, totaling 1.059 billion yuan [2] - New Power Energy (code: 300593) closed at 17.61, down 4.55% with a trading volume of 260,300 lots, totaling 460 million yuan [2] - Oulu Tong (code: 300870) closed at 207.95, down 3.98% with a trading volume of 44,600 lots, totaling 932 million yuan [2] Capital Flow Analysis - The other power equipment sector saw a net outflow of 287 million yuan from institutional investors, while retail investors experienced a net inflow of 180 million yuan [2] - Key stocks with notable capital flows included: - Zhongheng Electric (code: 002364) with a net inflow of 42.21 million yuan from institutional investors, but a net outflow of 41.7 million yuan from retail investors [3] - Green Energy Charging (code: 600212) had a net inflow of 40.88 million yuan from institutional investors, with a net outflow of 31.13 million yuan from retail investors [3] - ST Huaxi (code: 002630) recorded a net inflow of 35.93 million yuan from institutional investors, but a net outflow of 21.72 million yuan from retail investors [3]

Group 1 - The stock of Keda dropped by 6.66% with a trading volume of 1.059 billion yuan and a turnover rate of 5.43% [1] - After-hours trading data shows that the Shenzhen Stock Connect special seat bought 96.6659 million yuan and sold 96.3533 million yuan [1] - Two institutional special seats had a net purchase of 51.2745 million yuan, while three institutional special seats had a net sale of 113 million yuan [1]

Group 1 - The company Keda stated on September 5 that as of August 31, 2025, the number of shareholders is expected to be approximately 52,000 [2]

Market Performance - The other power equipment sector increased by 4.22% on September 5, with Haidao Sichuang leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Stock Highlights - Haidao Sichuang (688411) closed at 180.20, with a rise of 14.92% and a trading volume of 71,200 shares, amounting to 1.218 billion yuan [1] - Xizi Clean Energy (002534) saw a 10.01% increase, closing at 14.07 with a trading volume of 287,500 shares [1] - Zhongheng Electric (002364) and Kehua Data (002335) both rose by 10.00%, closing at 25.19 and 55.00 respectively [1] Capital Flow - The other power equipment sector experienced a net inflow of 1.119 billion yuan from main funds, while retail investors saw a net outflow of 888.7 million yuan [2] - The main funds showed significant net inflows in stocks like Kehua Data (1.92 million yuan) and Zhongheng Electric (1.72 million yuan) [3] Individual Stock Performance - Kehua Data (002335) had a main fund net inflow of 1.92 million yuan, but retail investors had a net outflow of 94.98 million yuan [3] - Zhongheng Electric (002364) also saw a main fund net inflow of 1.72 million yuan, with retail investors experiencing a net outflow of 74.10 million yuan [3] - Haidao Sichuang (688411) had a main fund net inflow of 7.09 million yuan, while retail investors faced a net outflow of 35.87 million yuan [3]

Group 1: Company Overview - Shenzhen Keda Technology Co., Ltd. has a balanced business development strategy, with domestic and overseas operations each accounting for approximately 50% of the business [2] - Domestic operations focus on self-owned brands, serving sectors such as finance, telecommunications, internet, government, transportation, and healthcare, with rapid growth in telecommunications and internet clients in the past two years [2] - Overseas operations primarily utilize ODM models, serving global power equipment brands and regional distributors, with significant growth in recent years [2] Group 2: Product Development and Trends - Current data center power products include UPS and HVDC, which are increasingly required to meet higher standards of stability, efficiency, and cost-effectiveness [3] - UPS products are evolving from low power to high power, with single-unit capacities reaching megawatt levels [3] - HVDC products are transitioning from medium and low voltage to high voltage versions, with iterations up to ±400V and 800V to accommodate larger load applications [3] Group 3: Capacity and Financial Status - The company currently has sufficient production capacity and a well-reserved industrial park, with flexible production processes that allow for quick adaptation and switching of capacities [3] - The company maintains a healthy cash flow and financial status, with no major capital expenditure plans or immediate financing needs [3] - The company emphasizes strict adherence to information disclosure regulations, ensuring the accuracy and completeness of disclosed information [3]