1月30日，开山股份跌1.16%，成交额1.66亿元。两融数据显示，当日开山股份获融资买入额2113.10万 元，融资偿还2407.52万元，融资净买入-294.42万元。截至1月30日，开山股份融资融券余额合计4.09亿 元。 融资方面，开山股份当日融资买入2113.10万元。当前融资余额4.07亿元，占流通市值的2.40%，融资余 额超过近一年50%分位水平，处于较高位。 融券方面，开山股份1月30日融券偿还2900.00股，融券卖出1100.00股，按当日收盘价计算，卖出金额 1.88万元；融券余量11.16万股，融券余额190.28万元，超过近一年60%分位水平，处于较高位。 机构持仓方面，截止2025年9月30日，开山股份十大流通股东中，香港中央结算有限公司位居第七大流 通股东，持股722.48万股，相比上期减少214.00万股。东方红远见价值混合A（010714）退出十大流通 股东之列。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.c ...

Investment Rating - The report maintains an "Overweight" rating for the power equipment sector [6] Core Insights - The report highlights new opportunities in the photovoltaic industry driven by space solar power initiatives and rising prices of battery components [1][17] - It emphasizes the importance of supply-side reforms and technological advancements in creating long-term growth opportunities within the industry [1][19] - The report identifies key companies to watch in various segments, including supply chain price increases, new technology growth, and perovskite solar cell developments [1][19][21] Summary by Sections Photovoltaics - The price of multi-crystalline silicon n-type raw materials remains stable, with an average transaction price of 59,200 RMB per ton [17] - N-type battery cell prices have increased to 0.42 RMB per watt, with a price range of 0.40-0.43 RMB per watt [17] - The report notes that rising silver prices have led to increased component costs, with distributed component prices now ranging from 0.70 to 0.80 RMB per watt [17] - SpaceX and Tesla plan to achieve a combined solar manufacturing capacity of 200GW annually in the U.S. within three years, with 40GW dedicated to space solar power [1][18] - Key companies to focus on include Tongwei Co., GCL-Poly, LONGi Green Energy, JA Solar, and Trina Solar for supply-side reform opportunities [1][19] Wind Power & Grid - The Netherlands will launch a 1GW offshore wind project tender in September 2026, with a subsidy budget of approximately 32.45 billion RMB [19][20] - Turkey plans to initiate its first offshore wind tender by the end of 2026, aiming for 5GW of installed capacity by 2035 [19][20] - Southern Power Grid has set a fixed asset investment of 180 billion RMB for 2026, focusing on new power system construction and strategic emerging industries [20] - Companies to watch include Goldwind, Yunda, Mingyang Smart Energy, and Sany Heavy Energy in the wind turbine sector [20] Hydrogen Energy - A ceremony for the operation of 300 hydrogen fuel heavy trucks was recently held, showcasing advancements in hydrogen energy technology [3][21] - The trucks are equipped with a 130kW fuel cell system and can achieve a range of over 600 kilometers [3][21] - Key companies in this sector include Shuangliang Energy, Huadian Heavy Industry, and Shenghui Technology [3][21] Energy Storage - The report forecasts that new energy storage installations in China will reach 58.6GW/175.3GWh in 2025, a year-on-year increase of 38%/60% [4][22] - The average bid price for 2-hour energy storage systems is projected to be 0.55 RMB/Wh in 2025, down 16.9% from 2024 [4][22] - Companies to focus on include Sungrow Power, Canadian Solar, and Kehua Data for large-scale energy storage opportunities [4][22] New Energy Vehicles - CATL launched the "Tianxing II" series solutions for light commercial vehicles, including the industry's first intelligent battery management application [5][27] - The solutions cater to various scenarios, including high-frequency urban distribution and extreme temperature conditions [5][27] - Key companies in the battery sector include CATL, Penghui Energy, and Guoxuan High-Tech [5][29]

Group 1 - The general equipment sector increased by 0.4% on January 22, with Rui Xin Technology leading the gains [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] - Rui Xin Technology's stock price rose by 19.98% to 21.62, with a trading volume of 282,800 shares and a transaction value of 576 million yuan [1] Group 2 - The general equipment sector saw a net inflow of 787 million yuan from institutional investors, while retail investors experienced a net outflow of 645 million yuan [2] - The top gainers in the general equipment sector included Youji Co., Ltd. with an 11.76% increase and Tengda Technology with a 10.01% increase [1] - The stock of Lio Co., Ltd. fell by 10.04% to 8.42, with a trading volume of 343,700 shares and a transaction value of 289 million yuan [2] Group 3 - Snowman Group had a net inflow of 665 million yuan from institutional investors, while retail investors had a net outflow of 489 million yuan [3] - The stock of Giant Lifting Tools saw a net inflow of 310 million yuan from institutional investors, with a net outflow of 169 million yuan from retail investors [3] - Tengda Technology experienced a net inflow of 164 million yuan from institutional investors, while retail investors had a net outflow of 74 million yuan [3]

| 減持期间 | 减持均价（元/股） 減持股数 (万股) | | 套现金额(万元) 减持后持股比例 | | --- | --- | --- | --- | | 20230214-20230523 17.37 | 511.67 | 8885.56 | 56.98% | | 20230120-2023012016.12 | 44.85 | 722.89 | 58.45% | | 20230130-2023013016.14 | 102 | 1645.82 | 58.35% | | 20230131-2023013116.14 | 140 | 2260.27 | 58.21% | | 20230201-2023020116.1 | 110 | 1771 | 58.09% | | 20230202-2023020216.06 | 69.79 | 1120.84 | 58.02% | | 20230207-20230207 16.09 | 190 | 3057.99 | 57.83% | | 20230208-2023020816.04 | 61.32 | 983.3 | 57.77% | | 20230209-202 ...

南财智讯1月20日电，开山股份公告，公司收到控股股东开山控股集团股份有限公司出具的《关于减持 计划实施完成的告知函》，其于2026年1月16日至1月19日通过深圳证券交易所集中竞价交易系统减持公 司股份9,936,300股，占公司总股本的1.0000%，本次减持计划已全部实施完毕。本次减持后，开山控股 持有公司股份556,226,042股，占总股本的55.9789%。本次减持为股东正常行为，不会对公司治理结 构、股权结构及持续性经营产生影响。 ...

证券代码：300257 证券简称：开山股份 公告编号：2026-003 开山集团股份有限公司 特别提示： 1、本次权益变动为开山集团股份有限公司（以下简称"公司"或"本公司"） 控股股东开山控股集团股份有限公司（以下简称"开山控股"）实施股份减持， 不触及要约收购。 2、本次权益变动后，公司控股股东开山控股、实际控制人及一致行动人曹 克坚合计持股比例由 61.9908%下降至 60.9908%，权益变动触及 1%的整数倍。 3、本次权益变动不会导致公司控股股东及实际控制人发生变化，不会对公 司治理结构及持续经营产生重大影响。 公司于 2025 年 11 月 20 日披露了《关于控股股东减持股份预披露公告》（公 告编号：2025-044），持有公司 566,162,342 股（占本公司总股本的 56.98%） 股份的控股股东开山控股，计划自减持股份预披露公告发布之日起十五个交易日 后（即 2025 年 12 月 12 日）的 3 个月内以集中竞价方式或大宗交易方式减持本 公司股份合计不超过 9,936,350 股（不超过本公司总股本的 1%）。 公司于近日收到开山控股出具的《关于持股 5%以上股东权益变动触及 ...

证券代码：300257 证券简称：开山股份 公告编号：2026-002 开山集团股份有限公司 关于持股5%以上股东股份减持计划实施完成的公告 持股5%以上的控股股东开山控股集团股份有限公司保证向本 公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈 述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提 供的信息一致。 开山集团股份有限公司（以下简称"公司"或"本公司"）于 2025 年 11 月 20 日披露了《关于控股股东减持股份预披露公告》（2025-044，以下简称"减 持计划"），公司控股股东开山控股集团股份有限公司（以下简称"开山控股"） 计划自减持计划发布之日起十五个交易日后（即 2025 年 12 月 12 日）的 3 个月 内以集中竞价方式或大宗交易方式减持本公司股份合计不超过 9,936,350 股（不 超过本公司总股本的 1%）。 公司于近日收到开山控股出具的《关于减持计划实施完成的告知函》，获悉 其于 2026 年 1 月 16 日至 2026 年 1 月 19 日通过深圳证券交易所集中竞价交易系 统减持公司股份 9,936,300 股，并于 2026 年 1 月 ...

国盛证券（002670）发布研报称，近日，特朗普要求美国科技巨头数据中心电力自负，或催化美国数据 中心离网供电系统建设需求。地热装机潜力来看，全球地热潜在规模约162GW，近10倍于已装机规 模，其中美国、亚洲(印尼为主)潜在地热规模约35.0GW/74.3GW。目前，Meta(META.US)、 Google(GOOGL.US)已部署数个百MW级别地热发电，下一代增强型地热技术拓宽地热能适用场景。AI 数据中心地热购电价格升至100美元/MWh，较2024年增长45%+。 国盛证券主要观点如下： 数据中心需求不及预期，行业竞争加剧风险，政策变化风险、测算假设相关风险。 2)Google：2024年谷歌与Fervo Energy和NVEnergy签署115MW地热能协议，以供应其内华达州数据中 心。下一代增强型地热(EGS)技术适用于干热岩无天然流体区域，地热能适用场景进一步拓宽。 价：AI数据中心地热购电价格升至100美元/MWh，较2024年增长45%+。Ormat财报显示，公司与超大 规模云服务商及数据中心在谈地热项目规模约250MW，PPA购电价格100美元/MWh以上，较2024年价 格增长45%+ ...

Market Performance - The general equipment sector increased by 1.93% on January 19, with Oke Yi leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Top Gainers - Oke Yi (688308) closed at 39.78, up 20.00% with a trading volume of 76,400 shares [1] - Aiko Optoelectronics (688610) closed at 91.25, up 18.54% with a trading volume of 58,000 shares [1] - Boying Special Welding (301468) closed at 70.52, up 14.95% with a trading volume of 148,300 shares [1] - Kaishan Shares (300257) closed at 18.61, up 14.24% with a trading volume of 481,100 shares [1] - Dongmu Shares (600114) closed at 34.95, up 10.01% with a trading volume of 366,100 shares [1] Top Losers - Silin Jie (688115) closed at 59.46, down 16.37% with a trading volume of 39,300 shares [2] - Aerospace Power (600343) closed at 37.19, down 10.00% with a trading volume of 330,200 shares [2] - Luxin Investment (600783) closed at 26.01, down 9.56% with a trading volume of 931,200 shares [2] - Green Island Wind (301043) closed at 73.60, down 8.91% with a trading volume of 30,400 shares [2] Capital Flow - The general equipment sector experienced a net outflow of 103 million yuan from main funds, while retail funds saw a net inflow of 115 million yuan [2] - Retail investors had a net outflow of 12.17 million yuan [2] Individual Stock Capital Flow - Wu Zhi Electromechanical (300503) had a main fund net inflow of 264 million yuan, with a retail net outflow of 31.1 million yuan [3] - Dongling Shares (600114) saw a main fund net inflow of 256 million yuan, but a retail net outflow of 151 million yuan [3] - Wuzhou Xinchun (603667) had a main fund net inflow of 253 million yuan, with a retail net outflow of 139 million yuan [3]

Summary of Key Points from the Conference Call Company Overview - The company discussed is **Kaisan Co., Ltd.** (开山股份), which operates in the geothermal energy and compressor industries [2][3]. Industry Insights - **Geothermal Energy Market**: The global geothermal resource potential is significant, with the U.S. market demand increasing, particularly driven by tech giants like Meta and Google for data centers. Large-scale geothermal power agreements have been signed, expected to significantly boost geothermal power demand [2][4]. - **Compressor Industry**: The compressor industry is experiencing accelerated domestic substitution, with Kaisan emerging as a key player in the air compressor market. The demand for ship compressors is also notably increasing [2][8]. Financial Performance - **Revenue and Profitability**: Kaisan's compressor business generated nearly 3 billion RMB, while the geothermal power business has a gross margin close to 50%. The company expects substantial revenue growth from existing projects due to a 45% increase in potential order prices for geothermal power [2][5][9]. - **Projected Growth**: Kaisan anticipates rapid profit growth over the next few years, with expected profits of 400 million, 600 million, and 950 million RMB for 2025, 2026, and 2027, respectively, reflecting growth rates of approximately 30%, 50%, and 50% [3][9]. Market Dynamics - **U.S. Geothermal Market**: The U.S. geothermal market is projected to grow significantly due to the demand from data centers. Meta and Google have signed contracts for 150MW and 110MW of geothermal power, respectively, which will contribute to a substantial increase in overall demand [4][10]. - **Global Geothermal Resource Distribution**: The richest geothermal resources are found in the U.S., Indonesia, and the Philippines. The cost of geothermal power generation is on a downward trend, with fluctuations across different projects and regions [7]. Strategic Positioning - **Global Expansion**: Kaisan is focusing on global expansion and transitioning to renewable energy, with plans to double its overseas compressor business revenue to 300 million USD within 2-4 years [2][5]. - **Dual Business Model**: The company operates a dual business model with compressors and geothermal power, benefiting from synergies between the two sectors. This model positions Kaisan favorably for future growth [12]. Investment Outlook - **Market Valuation**: Given Kaisan's leadership in domestic geothermal power and the rapid growth of its overseas compressor business, the market valuation is expected to be above the industry average [3][9]. - **Future Opportunities**: The company is well-positioned to capitalize on the increasing demand for geothermal energy driven by data centers, both in the U.S. and globally, including markets in Indonesia and Kenya [11][12].