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].

12月24日，金雷股份盘中上涨2.11%，截至10:13，报28.59元/股，成交8277.46万元，换手率1.21%，总 市值91.53亿元。 资金流向方面，主力资金净流入297.38万元，大单买入1790.79万元，占比21.63%，卖出1493.41万元， 占比18.04%。 金雷股份今年以来股价涨44.76%，近5个交易日涨0.74%，近20日涨9.83%，近60日跌0.76%。 金雷股份所属申万行业为：电力设备-风电设备-风电零部件。所属概念板块包括：机械、水电概念、融 资融券、海上风电、参股新三板等。 截至9月30日，金雷股份股东户数2.79万，较上期减少7.27%；人均流通股8701股，较上期增加7.84%。 2025年1月-9月，金雷股份实现营业收入21.19亿元，同比增长61.35%；归母净利润3.05亿元，同比增长 104.59%。 分红方面，金雷股份A股上市后累计派现5.06亿元。近三年，累计派现2.10亿元。 机构持仓方面，截止2025年9月30日，金雷股份十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股425.02万股，相比上期增加109.37万股。南方中证1000ET ...

Core Insights - The wind power industry is expected to experience a synchronous recovery in both domestic and international markets, driven by changes in demand and industry dynamics, creating new investment opportunities [1] - The report maintains an "outperform" rating for the wind power sector, indicating a positive outlook for investment [1] Group 1: Industry Review - Since 2021, China's onshore wind power has entered a parity era, with rapid cost reductions achieved through large-scale and technological advancements, leading to continuous installation exceeding expectations [3] - The competition within the main engine segment has significantly compressed the profitability of the industry chain, resulting in a situation where growth in volume does not equate to growth in profit [3] - The price of the onshore wind industry chain has been recovering since the second half of 2024, with profitability expected to improve in 2025 as shipment volumes increase [3][4] Group 2: Onshore Wind Power Outlook - For 2026, it is anticipated that new onshore installations in China will reach 120 GW, a year-on-year increase of 10%, setting a new historical high [4] - The industry chain prices are expected to have solid support, leading to significant recovery in main engine profits, with component segments showing notable operational leverage [4] - The CAGR for new onshore installations in emerging markets is projected to be 17% from 2024 to 2030, with domestic manufacturers expected to see substantial growth in export profits [4] Group 3: Offshore Wind Power Outlook - The report forecasts that new offshore installations in China will rise to a range of 11-15 GW in 2026, representing a year-on-year increase of over 40% [5] - The national offshore wind project development is expected to commence in 2026, with a total of 70-100 GW of new offshore installations projected during the 14th Five-Year Plan period [5] - The global offshore wind market is anticipated to see steady growth in orders and construction demand, particularly in Europe, where supply constraints for cables and piles are expected [5] Group 4: Investment Recommendations - The report suggests focusing on key players in the main engine segment such as Goldwind Technology, Yunda Co., and Sany Renewable Energy, while component manufacturers like Delijia and Jinlei Co. are also highlighted [6] - In the offshore wind sector, companies such as Dajin Heavy Industry, Haili Wind Power, and Oriental Cable are recommended for investment consideration [6]

Group 1 - Wind power equipment sector increased by 0.77% on December 17, with He望电气 leading the gains [1] - The Shanghai Composite Index closed at 3870.28, up 1.19%, while the Shenzhen Component Index closed at 13224.51, up 2.4% [1] - He望电气's closing price was 30.65, reflecting a rise of 5.36% with a trading volume of 238,100 shares and a transaction value of 708 million yuan [1] Group 2 - The wind power equipment sector saw a net outflow of 376 million yuan from institutional investors, while retail investors had a net inflow of 444 million yuan [2] - The trading data for various companies showed that He望电气 had a net inflow of 80.12 million yuan from institutional investors, while retail investors had a net outflow of 78.23 million yuan [3] - Other companies like 运达股份 and 德力佳 also experienced varying degrees of net inflows and outflows from different investor types [3]

Group 1 - The company, Jinlei Co., stated on an interactive platform that it ensures all investors receive equal access to information by disclosing the number of shareholders at the end of the reporting period in its regular reports [2]

Group 1 - The company maintains a balanced sales strategy between domestic and international markets, with both segments contributing equally to sales [1] - In the forging business, overseas customer base is stabilizing, indicating a steady demand [1] - In the casting business, the company is actively developing overseas customers, suggesting potential for growth in international markets [1]

格隆汇12月17日丨金雷股份(300443.SZ)在投资者互动平台表示，公司产品暂未涉及SMR领域。 ...

格隆汇12月17日丨金雷股份(300443.SZ)在投资者互动平台表示，公司产品暂未涉及SMR领域。 ...