Group 1 - The three major indices experienced fluctuations and increased, with the photovoltaic equipment sector leading the gains, particularly in silicon energy and solid-state battery concepts, as the China Securities New Energy Index rose by 1.27% [1] - The New Energy ETF (159875) increased by 1.15%, with constituent stocks such as Daqo New Energy rising over 16%, and Dongfang Risheng increasing over 15%, while Tongwei Co., Ltd. and GCL-Poly Energy Holdings Ltd. hit the daily limit [1] - The New Energy ETF closely tracks the China Securities New Energy Index, which selects listed companies involved in renewable energy production, application, storage, and interaction devices to reflect the overall performance of the new energy industry [1] Group 2 - Dongguan Securities emphasized that improving photoelectric conversion efficiency and reducing production costs are core to the photovoltaic industry's development, necessitating continuous new product launches in the photovoltaic equipment sector to meet technological advancements [2] - Industrialization of solid-state batteries is accelerating, with 2025 identified as a critical turning point, as companies across the supply chain are rapidly establishing production lines in preparation for mass production of solid-state battery models [2]

A股光伏概念震荡走强，硅料方向领涨， 通威股份、欧晶科技涨停，大全能源涨超15%，东方日升、海 优新材、钧达股份、双良节能等跟涨。 ...

- The report predicts adjustments to the sample stocks of seven major broad-based indices in the Chinese market, including CSI 300, CSI 500, SSE 50, STAR 50, STAR 100, ChiNext Index, and ChiNext 50, based on the index compilation rules and data as of April 30, 2025 [1][7] - The CSI 300 Index selects stocks from the Shanghai and Shenzhen markets that meet criteria such as good operational status, no significant financial issues, and no abnormal price fluctuations. The selection process involves ranking stocks by daily average trading volume and market capitalization over the past year, applying buffer rules, and excluding stocks with significant losses or long-term suspensions. Adjustments are limited to 10% of the constituent stocks per review [8] - The CSI 500 Index excludes CSI 300 constituents and follows a similar methodology, focusing on stocks with good operational status, no financial irregularities, and stable price movements. Stocks are ranked by daily average trading volume and market capitalization, with buffer rules applied, and adjustments are capped at 10% of the constituent stocks [10] - The SSE 50 Index is derived from the SSE 180 Index, selecting stocks based on daily average market capitalization and trading volume over the past year. The accuracy of SSE 50 predictions depends on the SSE 180 Index's accuracy. Adjustments are limited to 10% of the constituent stocks [13] - The STAR 50 Index represents the top 50 securities on the STAR Market by market capitalization and liquidity. Stocks are ranked by daily average market capitalization, with buffer rules applied, and adjustments are capped at 10% of the constituent stocks [15] - The STAR 100 Index includes 100 mid-sized securities from the STAR Market, reflecting the performance of mid-cap companies. The selection process is similar to STAR 50, with adjustments limited to 10% of the constituent stocks [17] - The ChiNext Index selects stocks from the ChiNext Board based on the top-ranked daily average market capitalization over the past six months. Buffer rules are applied, and stocks with significant losses or long-term suspensions are excluded. Adjustments are capped at 10% of the constituent stocks [20] - The ChiNext 50 Index selects the most liquid stocks from the ChiNext Index's 100 constituents, considering industry coverage and applying buffer rules. Adjustments are limited to 10% of the constituent stocks [24]

Core Viewpoint - The photovoltaic industry is undergoing significant adjustments due to supply-demand mismatches, leading to a reduction in workforce across many companies [1][3][4]. Group 1: Workforce Changes - The number of employees in 109 A-share photovoltaic companies is projected to decrease from 78,260 in 2023 to 63,870 in 2024, indicating a reduction of over 14,000 employees [1][4]. - The workforce saw a substantial increase from 61,770 in 2022 to 78,260 in 2023, driven by a surge in industry performance, with total revenue reaching 1.65 trillion yuan and net profit hitting 147.09 billion yuan in 2023 [2][4]. - Major companies like Longi Green Energy, Jinko Solar, Trina Solar, and JA Solar have reduced their workforce by over 10,000 employees each, with Longi and Jinko seeing reductions exceeding 20,000 [5]. Group 2: Financial Performance - The financial performance of the photovoltaic industry is expected to decline in 2024, with total revenue dropping to 1.38 trillion yuan and a net loss of 60 million yuan reported [4]. - The decline in material prices has led to some companies operating at a loss, prompting them to implement cost-cutting measures, including workforce reductions [3][4]. Group 3: Contrasting Trends - Despite the overall trend of workforce reduction, some companies, particularly in the photovoltaic equipment sector, are hiring. For instance, North China Innovation added 4,434 employees, and Sungrow Power increased its workforce by 3,608 [6]. - Companies producing photovoltaic inverters and auxiliary materials, such as Sungrow, Deye, and Jinlang Technology, have reported overall profitability, allowing them to expand their workforce [6].

创新科技赋能，重构储能产品性能 在性能表现上，Risen Stack堆叠式储能一体机从安全、运维到智能管理全面升级，以高标准重新 定义全模块化&一体化储能产品。 该产品以多重 PACK 级安全防护机制构建安全防线，采用6重电池安全防护技术，以及PACK级 主动安全、病态电芯监测预警、PACK级泄爆与PACK级消防协同应对极端情况，全方位保障设 备稳定运行与用户安全。 能量块采用 IP65 和 C4 防护等级设计，有效提升设备的耐用性，提供 更为安全、稳定的用能体验。 在全球新能源转型浪潮下，工商业与家庭对储能设备的需求愈发多元，传统储能产品已难以满足 多元化场景下的灵活、高效、安全、智能等多维度需求。为满足市场需求，解决多场景下高兼容 性难题，东方日升重磅推出一款真正的全模块化&一体化储能——Risen Stack堆叠式储能一体 机。该产品凭借高效备电、极致安全、快速运维与多维智能等优势，打破常规，重新定义场景应 用、产品性能，以及工业设计理念，为能源的多形态应用带来了新的体验。 打破场景边界，开启全场景能源适配新体验 Risen Stack堆叠式储能一体机突破传统储能设备设计思路，采用模块化设计架构。 单机 ...

东方日升新能源股份有限公司 关于股东部分股份质押的公告 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。 东方日升新能源股份有限公司（以下简称"本公司"）于近日接到控股股东 林海峰先生的通知，获悉林海峰先生将其所持有的本公司部分股份进行质押，具 体事项如下： 证券代码：300118 证券简称：东方日升 公告编号：2025-040 一、股东股份质押基本情况 | | 是否为 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 控股股 | | | | | | | | | | | | | | | | 占 | 公 | | 是否 | | | | | | | 东或第 | | 占其所 | | | 是否 | | | | | | | 股东 | | 本次质押 | | 司 | 总 | | 为补 | 质押起 | 质押到 | | 质押 | | 名称 | 一大股 | 数量 | 持股份 | 股 | 本 | 为限 | 充质 | 始日 | 期日 | 质 ...

数据四舍五入，查看更多财务数据>> 一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | -0.2400 | -0.2500 | 4 | 0.2900 | | 每股净资产（元） | 9.84 | 13.07 | -24.71 | 12.86 | | 每股公积金(元) | 8.66 | 8.63 | 0.35 | 8.68 | | 每股未分配利润(元) | 0.16 | 3.39 | -95.28 | 2.99 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 29.91 | 49.33 | -39.37 | 67.77 | | 净利润(亿元) | -2.67 | -2.8 | 4.64 | 3.11 | | 净资产收益率(%) | -2.35 | -1.86 | -26.34 | 2.42 | 本次公司不分配不转赠。 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 23189.6 ...

Financial Performance - The company's revenue for Q1 2025 was ¥2,990,923,963.11, a decrease of 39.37% compared to ¥4,933,054,999.87 in the same period last year[4] - The net loss attributable to shareholders was ¥266,810,931.64, showing an improvement of 4.55% from a loss of ¥279,523,892.90 in the previous year[4] - The company reported a basic earnings per share of -¥0.24, which is a 4.00% improvement from -¥0.25 in the same period last year[4] - The net profit for the current period was a loss of ¥265,604,392.47, compared to a loss of ¥279,197,722.68 in the previous period, showing an improvement[20] - The company reported a total comprehensive loss of ¥277,220,629.89, compared to a loss of ¥266,595,176.05 in the previous period[20] Cash Flow - The net cash flow from operating activities improved significantly, reaching -¥105,941,021.30, a 96.51% increase compared to -¥3,032,228,158.79 in the same period last year[4] - Operating cash inflow for the current period was $3,588,684,464.62, down 31.4% from $5,230,104,156.37 in the previous period[22] - Operating cash outflow for the current period was $3,694,625,485.92, a decrease of 55.3% compared to $8,262,332,315.16 in the previous period[22] - Cash inflow from investment activities totaled $105,306,611.74, significantly up from $460,115.66 in the previous period[22] - Cash outflow from investment activities was $303,358,835.15, down 69.0% from $978,505,933.62 in the previous period[22] - Cash inflow from financing activities was $3,042,356,081.22, down 52.5% from $6,398,905,875.40 in the previous period[23] - Cash outflow from financing activities was $3,664,510,140.55, an increase of 15.4% compared to $3,174,094,838.09 in the previous period[23] - The ending cash and cash equivalents balance was $2,127,134,671.56, down 57.1% from $4,963,676,393.13 in the previous period[23] Assets and Liabilities - Total assets decreased by 5.37% to ¥40,778,271,326.44 from ¥43,093,991,991.33 at the end of the previous year[4] - Total liabilities decreased to ¥29,538,189,565.78 from ¥31,575,766,239.19, a reduction of 6.5%[18] - The total equity attributable to shareholders decreased to ¥11,219,210,451.01 from ¥11,497,052,937.89, a decline of 2.4%[18] - The company’s cash and cash equivalents decreased from ¥5,206,524,350.54 to ¥3,703,842,613.77, a decline of approximately 29%[16] - Total current assets decreased from ¥15,589,829,484.02 to ¥14,208,249,404.60, a decline of about 9%[16] Research and Development - Research and development expenses decreased by 57.57% to ¥59,901,412.17 from ¥141,192,578.91 in the previous year, primarily due to lower material costs[9] - Research and development expenses were ¥59,901,412.17, down 57.6% from ¥141,192,578.91 in the previous period[19] Shareholder Information - Total number of common shareholders at the end of the reporting period is 74,027[12] - The largest shareholder, Lin Haifeng, holds 24.82% of shares, amounting to 282,998,377 shares, with 141,726,900 shares pledged[12] - The company holds 18,517,400 shares in its repurchase account, representing 1.62% of the total share capital[13] - The total number of preferred shareholders is not applicable, indicating no preferred shares were issued[14] Inventory and Receivables - Accounts receivable increased from ¥4,442,848,437.61 to ¥4,172,715,310.61, a decrease of about 6%[16] - Inventory increased from ¥3,131,876,484.72 to ¥3,463,894,919.22, an increase of approximately 10%[16]

21世纪经济报道记者曹恩惠 上海报道 连续多年跻身全球光伏组件出货前十的东方日升（300118.SZ），在2024年迎来了史上最严峻的经营"寒 冬"。 财务数据显示，2024年，东方日升实现营业收入202.39亿元，同比下滑42.71%；实现归属于上市公司股 东的净利润为-34.36亿元，同比下滑352.03%。换言之，东方日升在2024年由盈转亏。 纵向对比来看，2024年的盈利数据也是东方日升史上最差。这既包括因组件价格下跌带来的组件业务亏 损，也包括大额资产减值损失的计提。 具体来看，2024年东方日升实现组件销售量18.07GW，较2023年减少约0.92GW。其组件业务毛利率跌 至2.58%，较2023年减少11.01个百分点。 截至2024年底，东方日升光伏组件年产能为40GW，产能主要分布于浙江宁波、江苏金坛、浙江义乌、 安徽滁州、内蒙古包头和马来西亚等生产基地。 相较于其他光伏组件企业，东方日升身上有个显著的标签：其是异质结技术的拥趸。 该公司在年报中介绍，其公司通过自有专利0BB电池技术、210超薄硅片技术、纯银用量小于5mg/W及 昇连接无应力电池互联技术四个行业内首家量产的技术，进一步推 ...

营业收入大幅下滑、净利润由盈转亏，东方日升（300118.SZ）正在面临业绩、资金双重压力。 短期资金缺口近50亿 最新披露的年报数据显示，2024年，东方日升的营业收入同比下降了42.71%；扣非净利润亏损37亿元 以上，同比下降超过335%。而在2019年-2023年，该公司累计扣非净利润也只有26.48亿元。也就是说， 去年一年的亏损金额，就比此前四年的扣非净利润，还多出10多亿元。 除了业绩亏损，东方日升还面临资金压力。年报数据显示，截至2024年底，该公司的货币资金余额约52 亿元，而同期的短期负债金额，就超过100亿元，短期资金缺口达到48亿元以上。 存货、资产减值侵蚀利润 年报数据显示，2024年，东方日升实现营业收入202.39亿元，同比下降42.71%，净利润、扣非净利润分 别亏损34.35亿元、37.31亿元，同比降幅更是达到352.03%、335.76%。这是自2019年以来，该公司营业 收入首次下滑，下滑幅度位居上市以来第二。 东方日升的主营业务是光伏电池与组件，同时涵盖电站运营和光伏电站收入等。根据行业协会数据，去 年多晶硅、硅片、组件价格分别下滑约35%、45%、30%、25%。 ...