证券代码：300068 证券简称：南都电源 公告编号：2026-003 浙江南都电源动力股份有限公司 关于公司及子公司 2026 年度对子公司提供担保的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 特别风险提示： 公司及子公司提供担保额度超过最近一期经审计净资产 100%、对资产负债 率超过 70%的单位担保额度超过公司最近一期经审计净资产 50%，均为对子公司 及控股子公司的担保。敬请广大投资者充分关注担保风险。 一、担保情况概述 1、浙江南都电源动力股份有限公司（以下简称"公司"、"南都电源"） 于 2026 年 1 月 15 日召开第九届董事会第七次会议，审议通过了《关于公司及子 公司 2026 年度对子公司提供担保的议案》。为满足 2026 年度公司及子公司的发 展需要，同意公司（含子公司）在 2026 年度对合并报表范围内子公司提供担保 的总额度不超过 80.5 亿元，其中为资产负债率 70%以下公司提供担保总额度不 超过 14 亿元，为资产负债率 70%以上公司提供担保总额度不超过 66.5 亿元。具 体为：（1）对武汉南都新能源科技有限公司（以 ...

证券代码：300068 证券简称：南都电源 公告编号：2026-005 浙江南都电源动力股份有限公司 关于2026年度使用闲置自有资金进行现金管理的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 浙江南都电源动力股份有限公司（以下简称"公司"）于 2026 年 1 月 15 日召开第九届董事会第七次会议，审议通过了《关于 2026 年度使用闲置自有资 金进行现金管理的议案》。为提高资金使用效率，公司拟用最高金额不超过人民 币 20 亿元的闲置自有资金进行现金管理，授权期限为自董事会审议通过之日起 12 个月内。在上述额度和期限内，该资金可循环滚动使用。具体情况如下： 一、本次使用自有资金进行现金管理的情况 （一）投资目的 为提高公司资金使用效率，在不影响公司正常经营的情况下，合理使用部分 暂时闲置自有资金进行现金管理，可以增加资金收益，为公司及股东获取更多的 回报。 （二）投资额度 公司拟使用最高金额不超过人民币20亿元的暂时闲置自有资金进行现金管 理（其中存款类产品最高金额不超过19.5亿元，理财类产品最高金额不超过0.5 亿元）。在上述额度内，资金可循环滚 ...

本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 浙江南都电源动力股份有限公司（以下简称"公司"、"南都电源"）于2026 年1月15日召开第九届董事会第七次会议，审议通过了《关于2026年度向银行申 请综合授信额度的议案》，同意公司（含全资及控股子公司）向银行申请不超过 145.1亿元的综合授信额度。具体内容如下： 一、本次申请综合授信的基本情况 证券代码：300068 证券简称：南都电源 公告编号：2026-006 浙江南都电源动力股份有限公司 关于 2026 年度向银行申请综合授信额度的公告 根据公司 2026 年经营计划安排，为适应公司业务发展的需要，开拓多种融 资渠道，降低融资成本，同意公司（含全资及控股子公司）向相关银行申请不 超过人民币 145.1 亿元的综合授信额度（包含总额度不超过 5 亿元等值人民币 的票据池质押融资业务额度）。具体如下： 1、向中国农业银行股份有限公司申请综合授信额度不超过 20 亿元，其中 向中国农业银行股份有限公司杭州浙大支行申请综合授信额度不超过 10 亿元， 向中国农业银行股份有限公司界首市支行申请综合授信额度不超过 10 ...

证券代码：300068 证券简称：南都电源 公告编号：2026-007 浙江南都电源动力股份有限公司 关于召开 2026 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。 根据《中华人民共和国公司法》和《公司章程》的有关规定，经浙江南都电 源动力股份有限公司（以下简称"公司"、"本公司"）第九届董事会第七次会 议审议通过，决定于 2026 年 2 月 2 日（星期一）14:30 在浙江省杭州市西湖区 文二西路 822 号公司会议室召开 2026 年第一次临时股东会会议。现将具体事宜 通知如下： 一、召开会议的基本情况 1、股东会届次：2026 年第一次临时股东会 2、股东会召集人：公司董事会 3、会议召开的合法、合规性：经第九届董事会第七次会议审议通过，公司 召开 2026 年第一次临时股东会；会议召集程序符合有关法律、行政法规、部门 规章、规范性文件和《公司章程》的规定。 4、会议召开的日期、时间： 7、会议出席对象： （1）截至 2026 年 1 月 26 日（星期一）15:00 交易结束时，在中国证券登 记结算有限责任公司深圳分公 ...

证券代码：300068 证券简称：南都电源 公告编号：2026-002 浙江南都电源动力股份有限公司 第九届董事会第七次会议决议公告 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。 浙江南都电源动力股份有限公司（以下简称"公司"）第九届董事会第七次 会议于 2026 年 1 月 15 日以现场与通讯表决相结合的方式召开。公司于 2026 年 1 月 12 日以当面送达、电子邮件或电话的方式通知了全体董事，本次会议应参 会的董事 7 名，实际参会的董事 7 名，会议的召集、召开和表决符合《中华人民 共和国公司法》和《公司章程》的有关规定。会议由公司董事长朱保义先生主持， 会议审议通过了以下议案： 一、审议通过了《关于2026年度开展套期保值业务的议案》 经审议，董事会同意公司开展外汇及商品套期保值事项业务，所需保证金和 权利金上限合计不超过1.5亿元或等值其他外币金额；任一交易日持有的最高合 约价值不超人民币22亿元或等值其他外币金额。自公司董事会审议通过之日起12 个月内有效。该额度在审批期限内可循环滚动使用。如单笔交易的存续期超过授 权期限，则授权期限自动顺 ...

Investment Rating - The industry is rated as "Outperform" compared to the market [1]. Core Insights - The report highlights a significant increase in demand for photovoltaic components, with a notable year-on-year growth in domestic installations and exports [3][4]. - The cancellation of export tax rebates for photovoltaic products is expected to impact pricing and demand dynamics in the industry starting April 2026 [3]. - The report suggests a focus on energy storage-related companies as potential investment opportunities due to the increasing demand in the sector [3]. Production Summary - Photovoltaic module production in November 2025 decreased by 2.43% month-on-month, with domestic inventory levels rising as terminal installations fell short of expectations [3]. - Battery production for January 2026 is projected at 210 GWh, a decrease of 4.55% from the previous month, primarily driven by a reduction in production from second-tier companies [3]. Price Summary - As of January 7, 2026, the price of polysilicon increased by 3.85% to 54.00 CNY/kg, while the average price of 183N monocrystalline silicon wafers rose by 12.00% to 1.40 CNY/piece [3]. - The average price for lithium iron phosphate battery storage systems was reported at 0.5721 CNY/Wh, reflecting a month-on-month decrease of 6.4% [3]. Domestic Demand Summary - In November 2025, domestic photovoltaic installations reached 22.02 GW, marking a 74.76% increase month-on-month but an 11.92% decrease year-on-year [3]. - Cumulative domestic photovoltaic installations from January to November 2025 totaled 274.89 GW, representing a year-on-year growth of 33.25% [3]. Overseas Demand Summary - In November 2025, photovoltaic component exports amounted to approximately 2.412 billion USD, a year-on-year increase of 34.08% [3]. - The inverter export value for November 2025 was 767 million USD, showing a year-on-year increase of 25.91% [3].

Core Viewpoint - Nandu Power has experienced a stock price increase of 9.46% year-to-date, with a notable rise of 6.11% over the past five trading days, despite a decline of 17.63% over the last 60 days [1] Financial Performance - For the period from January to September 2025, Nandu Power reported a revenue of 5.911 billion yuan, representing a year-on-year decrease of 24.80% [2] - The company recorded a net profit attributable to shareholders of -220 million yuan, a significant decline of 189.22% compared to the previous year [2] Shareholder Information - As of September 30, 2025, the number of shareholders for Nandu Power was 115,000, a decrease of 6.02% from the previous period [2] - The average number of circulating shares per shareholder increased by 6.42% to 7,415 shares [2] Dividend Distribution - Since its A-share listing, Nandu Power has distributed a total of 684 million yuan in dividends, with 56.1024 million yuan distributed over the past three years [3] Major Shareholders - As of September 30, 2025, Qianhai Kaiyuan Public Utility Stock (005669) became the second-largest circulating shareholder with 18.9477 million shares, marking a new entry [3] - Hong Kong Central Clearing Limited is the sixth-largest circulating shareholder with 9.0985 million shares, having decreased its holdings by 1.2013 million shares [3] - Southern CSI 1000 ETF (512100) is the seventh-largest circulating shareholder with 8.2114 million shares, also showing a reduction of 70,600 shares [3]

Group 1 - Company沃尔核材 (002130) is a leading domestic high polymer nuclear radiation modified material enterprise, focusing on the research and supply of insulation and protection materials for fusion devices, with core products including radiation-resistant heat shrink tubing and high-temperature insulation sleeves [1][35] - The radiation-resistant heat shrink tubing is made from specially modified polymer materials, capable of withstanding strong radiation and high-temperature environments within fusion devices, used for insulating superconducting magnet coils and signal cables [1][35] - The high-temperature insulation sleeves developed by the company can withstand temperatures above 200℃, meeting the insulation needs of cables inside the fusion reactor vacuum chamber, and possess excellent corrosion resistance and aging resistance [1][35] Group 2 - Company宝胜股份 (600973) is a leading domestic wire and cable enterprise, focusing on the research and manufacturing of special cables for fusion devices, with core products including radiation-resistant low-smoke halogen-free cables and low-temperature superconducting cable accessories [2][36] - The radiation-resistant cables utilize cross-linked polyethylene insulation materials with added radiation stabilizers, capable of long-term stable operation in radiation doses of 10^6 Gy, already applied in the power distribution system of fusion experimental devices [2][36] - The company is also developing control cables specifically for fusion reactors, optimizing the cable shielding structure to enhance electromagnetic interference resistance, ensuring stable transmission of control signals [2][36] Group 3 - Company西部超导 (688122) is a leading domestic high-end titanium alloy and superconducting materials enterprise, focusing on the research of titanium alloy structural materials and superconducting strip substrates for superconducting magnets in fusion devices [3][37] - The high-strength and high-toughness titanium alloy produced by the company is a core material for the support frame of superconducting magnets, capable of withstanding the enormous electromagnetic forces generated during magnet excitation [3][37] - The company is also developing seamless titanium alloy pipes that are resistant to high pressure and corrosion, used for medium transmission in the cooling system of fusion reactors, becoming an important supplier in the nuclear fusion materials field [3][37] Group 4 - Company钢研高纳 (300034) is a leading domestic high-temperature alloy enterprise, focusing on the research of high-temperature alloy materials for core components of fusion reactors, with core products including nickel-based high-temperature alloys and refractory metal alloys [4][38] - The nickel-based high-temperature alloys developed by the company can withstand temperatures above 1200℃ and possess excellent radiation swelling resistance, suitable for components like the first wall and divertor in fusion reactors [4][38] - The company collaborates with research institutions to conduct research on surface coating technology for high-temperature alloys, enhancing the materials' high-temperature and corrosion resistance [4][38] Group 5 - Company中密控股 (300470) is a leading domestic mechanical sealing enterprise, focusing on the research and manufacturing of sealing components for fluid systems in fusion devices, with core products including high-temperature mechanical seals and vacuum seals [5][39] - The high-temperature mechanical seals can withstand high-temperature and high-pressure media in the cooling system of fusion reactors, with zero leakage sealing performance, already applied in the main circulation pump sealing system of fusion experimental devices [5][39] - The company is also developing dynamic sealing components for fusion devices, addressing sealing challenges for rotating components in fusion reactors [5][39] Group 6 - Company中泰股份 (300435) is a leading domestic deep cooling technology equipment enterprise, focusing on the research and manufacturing of low-temperature refrigeration systems for fusion devices, with core products including large liquid nitrogen refrigeration units and liquid helium temperature refrigeration equipment [6][40] - The large liquid nitrogen refrigeration units can provide a low-temperature cold source of -196℃, supporting the primary cooling of superconducting magnets [6][40] - The company is also developing integrated technology for low-temperature systems in fusion reactors, providing a comprehensive solution of "refrigeration equipment + low-temperature pipelines + insulation systems" [6][40] Group 7 - Company汉钟精机 (002158) is a leading domestic screw compressor enterprise, focusing on the research and manufacturing of vacuum pumps for the vacuum systems of fusion devices, with core products including dry screw vacuum pumps and Roots vacuum pumps [7][42] - The dry screw vacuum pumps can reduce the pressure in the vacuum chamber to 10^-5 Pa, featuring radiation resistance and low vibration, preventing oil vapor contamination in the vacuum environment [7][42] - The company is also optimizing the rotor structure design of vacuum pumps to enhance fatigue resistance and extend the service life in extreme environments of fusion devices [7][42] Group 8 - Company中科三环 (000970) is a leading domestic rare earth permanent magnet materials enterprise, focusing on the research of permanent magnet materials for the magnet systems of fusion devices, with core products including high-performance NdFeB permanent magnets [8][43] - The high coercivity NdFeB permanent magnets produced by the company have excellent magnetic performance and temperature stability, used in auxiliary magnet systems for fusion devices [8][43] - The company is also developing radiation-resistant NdFeB permanent magnets, optimizing the composition by adding niobium and dysprosium to reduce the impact of radiation on magnetic performance [8][43] Group 9 - Company安泰环境 (300179) is a leading domestic high-end environmental and energy chemical equipment enterprise, focusing on the research of gas purification and treatment systems for fusion devices, with core products including high-purity gas purifiers and waste gas treatment devices [9][44] - The gas purifiers can enhance the purity of deuterium-tritium gas to 99.9999%, removing impurities such as oxygen and moisture, ensuring efficient fusion reactions [9][44] - The company is also developing equipment for the recovery and reuse of deuterium-tritium gas, improving fuel utilization rates in fusion reactors [9][44] Group 10 - Company万华化学 (600309) is a leading domestic chemical new materials enterprise, focusing on the research and supply of high-performance polymer materials for fusion devices, with core products including radiation-resistant polyimide films and high-temperature fluoroplastics [10][45] - The radiation-resistant polyimide films have excellent insulation and radiation resistance, used for the insulation layer of superconducting magnets, preventing short circuits in magnet coils [10][45] - The company is also developing high-sealing, radiation-resistant silicone sealants for fusion devices, ensuring the sealing performance of various components [10][45] Group 11 - Company中核科技 (000777) is a leading domestic nuclear-grade valve enterprise, focusing on the research and manufacturing of special nuclear-grade valves for fusion devices, with core products including nuclear-grade shut-off valves, safety valves, and vacuum isolation valves [11][46] - The nuclear-grade shut-off valves are designed to withstand high temperatures, high pressures, and strong radiation, ensuring safe operation in fusion reactors [11][46] - The company is also developing vacuum isolation valves with a sealing vacuum degree of 10^-6 Pa, isolating the vacuum chamber of fusion reactors from external systems [11][46] Group 12 - Company海陆重工 (002255) is a leading domestic industrial furnace and nuclear power equipment enterprise, focusing on the research and manufacturing of heat treatment equipment for high-temperature components in fusion devices, with core products including vacuum heat treatment furnaces and high-temperature sintering furnaces [12][47] - The vacuum heat treatment furnaces can operate in a vacuum environment of 10^-3 Pa, enhancing the density and mechanical strength of components [12][47] - The company is also developing customized heat treatment solutions for fusion device components, optimizing their performance [12][47] Group 13 - Company盾安环境 (002011) is a leading domestic refrigeration and air conditioning equipment enterprise, focusing on the research and manufacturing of temperature control systems for fusion devices, with core products including high-precision constant temperature control systems and low-temperature cooling units [13][48] - The high-precision constant temperature control systems can maintain a temperature accuracy of ±0.1℃, ensuring stable operation of electronic devices in fusion reactors [13][48] - The company is also developing integrated temperature control systems for fusion devices, providing a comprehensive solution of "cooling equipment + temperature sensors + control systems" [13][48] Group 14 - Company抚顺特钢 (600399) is a leading domestic special steel enterprise, focusing on the research and supply of special alloy steels for fusion devices, with core products including martensitic stainless steel and precipitation-hardened stainless steel [14][49] - The martensitic stainless steel produced by the company has high strength and corrosion resistance, suitable for the shell manufacturing of vacuum chambers in fusion reactors [14][49] - The company is also conducting research on the radiation resistance of steel used in fusion devices, optimizing compositions by adding rare earth elements [14][49] Group 15 - Company东华科技 (002140) is a leading domestic engineering design and general contracting enterprise, focusing on the engineering design and system integration of fusion devices, providing full-chain services from process design to construction installation [15][50] - The company has participated in multiple engineering design projects for domestic fusion experimental devices, optimizing the layout design of vacuum chambers, cooling systems, and power systems [15][50] - The company is also developing technical reserves for the engineering design of commercial fusion power plants, supporting future construction [15][50]

Group 1 - The core viewpoint of the article highlights a significant surge in energy storage orders, with projections indicating over 917 GWh of orders for 2025, continuing into 2026 with major companies securing substantial contracts [2][13]. Group 2 - Jinko Energy has signed a framework cooperation agreement with Shaanxi Yihe Green Energy Co., aiming for a collaboration scale of 3 GWh over the next two years, focusing on project development, equipment procurement, and technical collaboration [3][6]. - Jinko Energy will provide its new generation Blue Whale SunTera G3 6.25 MWh battery storage system, which boasts a 95% system cycle efficiency and a lifespan of up to 10,000 cycles, designed for high energy density and efficiency in various harsh environments [6]. Group 3 - Nandu Power has successfully won a bid for an independent energy storage project in Greece with a total installed capacity of 235 MWh, aimed at enhancing the local grid's renewable energy absorption capacity [7][8]. - The project will utilize Nandu's Center L Plus 5 MWh liquid-cooled storage system, which includes a complete set of energy storage system solutions, contributing to the optimization of energy resource allocation in Greece [12].

Core Viewpoint - Nandu Power announced changes to its business scope and amendments to its articles of association, reflecting the company's adaptation to actual production and operational needs [2] Group 1 - The company held the fourth meeting of the ninth board of directors and the fourth extraordinary shareholders' meeting on December 12 and December 29, 2025, respectively, to review and approve the proposals [2] - The company has completed the industrial and commercial change registration procedures and obtained a new business license issued by the Zhejiang Provincial Market Supervision Administration [2]