证券日报网讯1月8日，金雷股份（300443）在互动平台回答投资者提问时表示，公司于2024年实施两次 股份回购，其中回购金额超1亿元，累计回购的5319300股股份已全部注销。 ...

投资逻辑： 经济性驱动下，全球风电总需求有望维持长周期景气。AI 数据中心及电气化驱动的全球缺电大背景下，风电作 为可再生能源中度电成本最低的能源形式有望在中长期维度维持需求端的高景气。我们预计 2025 年全球新增风电装 机 167GW，同比+34%，其中国内新增装机 120GW，同比+38%，海外新增装机 47GW，同比+24%；展望 2026 年，预计全球 新增装机 196GW，同比+18%，其中国内 132GW，同比+10%，海外 64GW，同比+37% 国内需求有望打破"五年规划"的周期实现增长，海风+以旧换新+绿电直连带动下国内成长性依然值得期待。考 虑到 2025 年行业继续维持较高的招标量以及整机环节累积的巨量在手订单，我们预计 2026 年行业装机有望打破周期 继续保持增长，预计陆风装机 120GW 以上，海风装机约 12GW。此外，在风电"以旧换新"、绿氢氨醇等新需求支撑下， 叠加国内海风在政策推动下逐步放量，预计"十五五"国内风电装机每年仍将保持稳定增长。 海外 AI+电气化率持续提升的全球缺电大背景+中国产业链出海助力降本加速的经济性驱动下，海外风电需求有 望持续释放。在经济性驱动及海 ...

每经AI快讯，1月8日，风电设备板块午后走高，泰胜风能（300129）20cm涨停创新高，中环海陆 （301040）、威力传动（300904）、天能重工（300569）、金雷股份（300443）、中船科技（600072） 跟涨。 ...

（编辑 任世碧） 证券日报网讯 1月5日，金雷股份在互动平台回答投资者提问时表示，公司于2023年12月取得辽源市科 学技术研究所有限公司的控股权，主要从事滑动轴承的轴瓦等产品的研发、生产和销售。公司此次投资 一方面是为了与西安航启工源科技发展有限责任公司共同在新能源运维市场寻求业务机会，另一方面在 其他能源动力装备零部件制造领域链接市场机会。公司生产的其他精密轴类可以广泛应用于能源电力领 域的水电机组、火电机组及其他各类电机轴。 ...

证券日报网讯 1月5日，金雷股份在互动平台回答投资者提问时表示，公司高端传动装备科创产业园项 目一期的锻压工序已于2025年下半年投产，产能正在逐步释放。公司海上风电核心部件数字化制造项目 2025年大概释放8万-10万吨产能。 （文章来源：证券日报） ...

每经AI快讯，有投资者在投资者互动平台提问：公司2025年全年研发投入预计多少，前三季度研发费 用9365万元，全年是否有明确预算目标？能否披露截至最近一期的股东总户数，以及较2025年9月30日 的变化情况？2025年新建工厂（如钢城高端装备制造三期项目一期、东营基地新增设备等）截至目前的 产能利用率分别达到多少，后续爬坡节奏如何？ （文章来源：每日经济新闻） 金雷股份（300443.SZ）1月5日在投资者互动平台表示，首先，关于研发投入以公司定期报告中披露的 信息为准。其次，为确保所有投资者平等获悉公司信息，公司在定期报告中披露了对应期末时点的股东 数量等信息，进行查询，我们将及时回复；第三，公司高端传动装备科创产业园项目一期的锻压工序已 于2025年下半年投产，产能正在逐步释放。公司海上风电核心部件数字化制造项目2025年大概释放8万 吨~10万吨产能。 ...

Core Insights - The report emphasizes that the wind power sector is expected to break the cyclical pattern and maintain growth in 2026, driven by both onshore and offshore wind energy expansion globally, with a focus on green energy applications [10][12] - The report identifies four main investment themes for 2026: 1) Resonance of policies between China and Europe for offshore wind, 2) Green energy catalyzing non-electric utilization, 3) Profitability elasticity of major manufacturers, and 4) Sustained demand in the components sector [10][16] Group 1: Industry Overview - In 2025, the wind power sector faced cyclical pressures, but by the third quarter, the relative advantages of wind power became more pronounced due to policy impacts on the electricity market and non-electric utilization, leading to a projected double-digit growth in installed capacity for 2026 [10][20] - The report forecasts that installed capacity for onshore and offshore wind in 2026 will reach approximately 110 GW and 10 GW respectively, representing year-on-year growth of 10% and 25% [20][41] Group 2: Key Companies and Profitability Forecasts - The report highlights several key companies with investment ratings, including: - Goldwind Technology (002202.SZ) with a buy rating and projected EPS growth from 0.42 in 2024 to 1.16 in 2026 [7] - Dongfang Cable (603606.SH) also rated as buy, with EPS expected to rise from 1.47 in 2024 to 3.03 in 2026 [7] - New Strong Link (300850.SZ) rated as buy, with EPS projected to increase from 0.18 in 2024 to 2.92 in 2026 [7] - The profitability of major manufacturers is expected to improve significantly, with the average bidding price for main units increasing by 7.4% in 2025, and a high proportion of high-price orders expected to continue into 2026 [10][13] Group 3: Offshore Wind Development - The report notes that both Europe and China are emerging from a low point in offshore wind development, with a significant increase in project approvals and construction expected to drive growth in 2026 [10][56] - The offshore wind policy in China is evolving, with a focus on deep-sea technology and a significant number of projects expected to be initiated, which will enhance demand for high-voltage cables and other components [10][56] Group 4: Component Sector Dynamics - The demand for wind turbine components is projected to remain strong, with expectations of over 20,000 turbines needed annually during the "14th Five-Year Plan" period, indicating a recovery from previous supply chain constraints [10][44] - The report suggests that component manufacturers will benefit from increased capacity utilization and the introduction of new technologies, with specific companies recommended for investment, including New Strong Link and Delijia [10][13]

证券代码：300443 证券简称：金雷股份 公告编号：2025-052 金雷科技股份公司 关于变更持续督导保荐代表人的公告 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。 特此公告。 金雷科技股份公司 2025 年 12 月 31 日 附件：迟元行先生简历 迟元行，中泰证券投资银行业务委员会上海投行总部高级副总裁， 金融硕士，保荐代表人。作为项目核心人员参与兰剑智能、皇派家居、 恒基金属 IPO 项目，金雷股份、西菱动力、鲁银投资等向特定对象发行 股份项目，洛凯股份向不特定对象发行可转换公司债券项目，莱钢集团 和鲁银投资可交换债券项目，鲁银投资 2018 年重大资产购买项目，雅 博股份、共达电声控制权变更财务顾问项目等，具有丰富完整的投资银 行项目经验和项目运作能力。 现张琳琳女士因工作职责调整，不再继续负责公司的持续督导保荐 工作。为更好地开展后续的持续督导工作，中泰证券委派保荐代表人迟 元行先生（简历详见附件）接替张琳琳女士负责公司 2022 年向特定对 象发行股票项目的持续督导工作，继续履行持续督导职责。 本次变更后，公司 2022 年向特定对象发行股票 ...

格隆汇12月29日｜华鑫证券研报指出，金雷股份"铸+锻"双驱动，前三季度业绩高增长，盈利能力提 升。风电锻造轴一直以来都是公司核心业务，公司锻造轴产品涵盖1.5MW至9.5MW全系列机型，实现 锻造机型全功率覆盖，上半年实现收入5.89亿元，同比增长47.33%。公司风电铸造轴类产品把握海上风 电的发展机遇，加大在海上风电铸件产品的研发和生产投入，风电铸造业务实现了快速增长，已具备全 流程生产5MW至30MW风机主轴、轮毂、底座、连体轴承座等大型风机核心铸造部件的能力。随着产 能的快速释放，加上铸件业务价格回暖及市场需求的扩大，上半年实现销售收入2.8亿元，同比增长 276.06%。公司已与GE、西门子歌美飒、运达股份、远景能源、恩德安信能、维斯塔斯、东方电气、金 风科技、中国中车等全球高端风电整机制造商建立了良好的战略合作关系。给予"买入"投资评级。 ...

Overview - The report maintains a "stronger than market" rating for the renewable energy sector, highlighting that the demand for offshore wind power in China and Europe is increasing, leading to a rise in foundation demand and profit recovery for wind turbines. The "anti-involution" policy is expected to continue driving the photovoltaic sector, particularly with the expansion of perovskite technology. Overall, while short-term installation demand for renewable energy globally may be weak, there are structural opportunities in the market [1]. Key Points Supporting the Rating - The "anti-involution" trend is stabilizing wind turbine prices, enhancing profitability for manufacturers. China's offshore wind projects are becoming economically viable, contributing significantly to installed capacity. The demand for offshore wind in Europe and emerging markets is also on the rise [3]. - In the photovoltaic sector, the "anti-involution" policy remains the main theme, with a focus on the potential for capacity exits in battery and module production, as well as the industrialization potential of perovskite technology. Investment should prioritize growth-oriented new technology directions and the main industry chain benefiting from the "anti-involution" trend [3]. Investment Recommendations - For wind power, the report suggests prioritizing investments in the turbine segment, which is expected to recover profitability, and in the foundation segment that is progressing quickly in Europe. The offshore wind market is projected to grow significantly, with a focus on deep-sea projects [3]. - In the photovoltaic sector, the report emphasizes the importance of monitoring the "anti-involution" policy's impact on the industry, particularly regarding the exit of inefficient capacity and the enhancement of efficiency in battery and module production [3]. Long-term Outlook for Renewable Energy Demand - The report indicates that China's renewable energy demand is expected to remain robust in the long term, with an average annual installation capacity of over 400GW projected from 2025 to 2035. This is driven by the country's energy security needs and the ongoing transition to a low-carbon economy [13][16]. - The "136 Document" is noted for guiding the development of renewable energy projects towards market-oriented pricing, which is expected to stabilize project returns and promote high-quality development in the sector [31]. Photovoltaic Sector Insights - The report anticipates a moderate decline in photovoltaic installations in 2026 due to a phase of pre-installation in 2025, with projected installations of 290GW in 2025 and 180GW in 2026, reflecting a year-on-year decrease of 38% [33]. - The report highlights that the European photovoltaic market is facing growth challenges, with a forecasted installation of 64.2GW in 2025, indicating a slight decline. The U.S. market is also expected to experience pressure on growth due to policy adjustments [34][37]. Perovskite Technology Potential - Perovskite technology is identified as a key area for enhancing competitiveness in the photovoltaic manufacturing sector, with expectations for significant breakthroughs in industrialization by leading manufacturers in 2026 [33][44].