2025 年度持续督导培训情况报告 中泰证券股份有限公司（以下简称"保荐机构""中泰证券"）作为金雷科技 股份公司（以下简称"金雷股份""公司"）创业板向特定对象发行股票的保荐机 构，根据《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》等法 规的要求，对金雷股份进行了 2025 年度持续督导培训，现将培训情况报告如下： 一、本次培训基本情况 中泰证券股份有限公司 关于金雷科技股份公司 1 （此页无正文，为《中泰证券股份有限公司关于金雷科技股份公司2025年度 持续督导培训情况报告》之签章页） 保荐代表人： 2026 年 1 月 26 日，中泰证券相关人员通过现场授课和视频培训的方式对公 司控股股东、实际控制人、董事、高级管理人员、部分中层以上管理人员等相关 人员进行了培训。 二、培训内容 本次培训聚焦上市公司运行的最新监管要求，深入解析募集资金管理规定修 订要点，并结合近期典型监管处罚与纪律处分案例展开剖析。同时，对《上市公 司董事会秘书监管规则（征求意见稿）》与《上市公司监督管理条例（征求意见 稿）》的出台背景与核心内容等，进行了充分解读。 三、培训结论 通过本次培训，公司控股股东、实际控制人 ...

（编辑 姚尧） 证券日报网讯 2月2日，金雷股份在互动平台回答投资者提问时表示，公司此次定增扩产也是为了紧抓 行业发展机遇，提升大型高端铸锻件产能，进一步提升公司盈利能力，为公司以及广大股东创造更大的 价值。 ...

Summary of Key Points from Conference Call Records Industry Overview - **Industry Focus**: The records primarily discuss the lithium battery, sodium battery, wind power, and photovoltaic sectors, highlighting recent developments and future expectations in these industries. Lithium Battery Sector - **National Capacity Pricing Policy**: The introduction of the national capacity pricing policy is expected to increase the Internal Rate of Return (IRR) for energy storage by over 3%, with more provinces likely to adopt energy storage solutions by 2026 [1] - **Lithium Battery Production**: In February, lithium battery production is projected to decrease by over 10%, indicating that the production season is not as weak as anticipated [1] - **Sodium Battery Testing**: Ningde has initiated winter testing with multiple automotive companies for sodium batteries, with expectations for mass production in Q2 [1] - **Investment Focus**: The preferred investment hierarchy includes energy storage cells (Penghui) > lithium iron phosphate cathodes > energy storage integration (Haibo) > separators (Enjie), copper, and aluminum foil (Nord and Dingsheng) [1] Sodium Battery Sector - **Lithium Carbonate Price Adjustment**: A new round of price increases for lithium carbonate is anticipated following adjustments, with strong downstream purchasing activity observed after recent price drops [2] - **Wind Power Sector Performance**: Recent performance forecasts for the wind power sector have largely fallen short of expectations due to a decline in Q4 shipments and year-end impairments, indicating a confirmed bottom for the main engine sector [2] - **Investment Recommendations**: Recommended stocks include Jinlei Co., Daikin Heavy Industries, and major engine manufacturers (Goldwind, SANY, Yunda, Mingyang) [2] Photovoltaic Sector - **Space Photovoltaics**: The application by SpaceX to deploy 1 million satellites to create a space data center reinforces the logic behind space photovoltaics [3] - **Cost Reduction in Battery Production**: The high silver prices and technological breakthroughs have led to an average cost reduction of over 0.15 CNY/W in copper-based batteries, indicating a potential explosion in the no-silver industrialization [3] - **Investment Focus**: The preferred investment hierarchy includes equipment manufacturers (Liancheng, Lap, Maiwei, Yujing) and battery materials (Bojian, Foster, Kaisheng, Juhua, Dike, Risheng, Junda) [3] AIDC (Artificial Intelligence Data Center) Sector - **New Bidding Opportunities**: The domestic supply chain is entering a new round of bidding, with ByteDance shifting its focus to high-voltage direct current solutions and Nvidia tightening certification for liquid cooling [3] - **Production Increase**: The production capacity of Yingwei's QD is expected to increase by 20 times in Q1, indicating a strong alignment with Nvidia's ecosystem [3]

电新周观点更新：好看太空光伏、储能、锂、钠电 锂电：全国容量电价政策落地，储能爆发确定 #周度变化：1）全国容量电价政策出台，预计储能IRR增加 3%以上，26年会有更多省份储能0-1；2）2月锂电排产 中枢环降10%+，排产淡季不淡；3）钠电宁德开启多个车企冬季测试，Q2有望批量出货。 电新周观点更新：好看太空光伏、储能、锂、钠电 锂电：全国容量电价政策落地，储能爆发确定 #周度变化：1）全国容量电价政策出台，预计储能IRR增加 3%以上，26年会有更多省份储能0-1；2）2月锂电排产 中枢环降10%+，排产淡季不淡；3）钠电宁德开启多个车企冬季测试，Q2有望批量出货。 看好环节排序：储能电芯（鹏辉）＞铁锂正极＞储能集成（海博）＞隔膜（恩捷）、铜铝箔（诺德、鼎胜）、 6F等。 #周度变化：风电板块业绩预告密集落地，受q4出货量下降和年底减值影响，业绩多数不及预期；其中主机板块低 价单已大幅出清，确定性底部已现，预计26Q1毛利率整体开启修复。 看好标的排序：首推金雷股份、大金重工以及主机（金风、三一、运达、明阳）；海风链—塔桩（泰胜、天 顺），海缆（东缆、中天），此外现阶段建议重点关注海力风电。 看好环节排 ...

1月29日晚，风电零部件龙头企业金雷股份发布2025年度业绩预告，公司预计归属于上市公司股东的净 利润达3.02亿元至3.63亿元，同比增长75.00%至110.00%；扣除非经常性损益后的净利润更为亮眼，预 计为3.32亿元至3.93亿元，同比增长91.07%至125.83%。 ...

智通财经APP讯，金雷股份(300443.SZ)披露2025年度业绩预告，公司预计归属于上市公司股东的净利润 3.02亿元至3.63亿元，同比增长75%至110%;扣除非经常性损益后的净利润3.32亿元至3.93亿元，同比增 长91.07%至125.83%。 ...

金雷股份（300443）(300443.SZ)披露2025年度业绩预告，公司预计归属于上市公司股东的净利润3.02亿 元至3.63亿元，同比增长75%至110%;扣除非经常性损益后的净利润3.32亿元至3.93亿元，同比增长 91.07%至125.83%。 ...

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。 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日。 2、业绩预告情况：预计净利润为正值且属于同向上升 50%以上情形 以区间数进行业绩预告的 单位：万元 证券代码：300443 证券简称：金雷股份 公告编号：2026-009 金雷科技股份公司 2025 年度业绩预告 | 项目 | 本报告期 | | | | 上年同期 | | --- | --- | --- | --- | --- | --- | | 归属于上市公司 | | 30,244.29 | ～ | 36,293.14 | | | 股东的净利润 | 比上年同 期增长 | 75.00% | ～ | 110.00% | 17,282.45 | | 扣除非经常性损 | 比上年同 | 33,244.29 | ～ | 39,293.14 | 17,399.06 | | 益后的净利润 | 期增长 | 91.07% | ～ | 125.83% | | 二、与会计师事务所沟通情况 本次业绩预告相关数据是公司财务部门初步测 ...

Core Viewpoint - Jinlei Co., Ltd. plans to raise up to RMB 155 million through a private placement of shares, with the funds allocated for high-end transmission equipment projects, wind power component manufacturing upgrades, and working capital supplementation [1][3]. Fundraising Details - The total investment for the high-end transmission equipment project is RMB 106.50 million, with RMB 72.50 million expected to be raised from this issuance [3]. - The wind power core component digital manufacturing project has a total investment of RMB 54.50 million, with RMB 51.50 million planned to be funded through the issuance [3]. - The working capital supplementation is set at RMB 31 million, with the entire amount to be raised from the issuance [3]. Issuance Mechanism - The issuance will adopt a competitive pricing method, with the issue price set at no less than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing date [4]. - The number of shares issued will not exceed 30% of the total share capital before the issuance, amounting to a maximum of 96,040,379 shares [4]. Historical Fundraising - Jinlei Co., Ltd. has raised a total of RMB 2.65 billion over the past six years through two fundraising rounds [5]. - In June 2023, the company raised approximately RMB 2.15 billion by issuing 63,700,414 shares at a price of RMB 33.78 per share [5]. - In September 2020, the company raised around RMB 500 million through a private placement of 23,696,682 shares at RMB 21.10 per share [6]. Financial Performance - In 2024, the company reported revenue of RMB 1.97 billion, a year-on-year increase of 1.11%, while net profit attributable to shareholders decreased by 58.03% to RMB 173 million [7][8]. - For the first three quarters of 2025, revenue reached RMB 2.12 billion, a significant year-on-year increase of 61.35%, with net profit attributable to shareholders rising by 104.59% to RMB 305 million [9].

Investment Rating - Industry Rating: Recommended [5] Core Insights - The humanoid robot industry is accelerating towards mass production, driven by cost reduction demands and domestic suppliers' advantages in key components like precision transmission parts and electronic skin [15][16] - The sodium battery released by CATL showcases cost and performance advantages, with significant price increases in lithium carbonate impacting lithium battery costs, while sodium batteries are expected to achieve scale applications [19][20] - Domestic energy storage installations are experiencing substantial growth, with a diverse revenue structure and economic viability, benefiting leading companies in system integration and inverters [23] - The photovoltaic industry is poised for growth due to dual applications in ground and space, with HJT technology becoming a key direction for overseas expansion, enhancing global market potential [26][31] - China's wind power equipment exports are surging, with significant opportunities for leading companies in both domestic and overseas markets, supported by technological parity and cost advantages [27][40] - The electric equipment sector is entering a super boom cycle, driven by overseas demand and advancements in AI and smart grid technologies, with companies that possess strong channel resources and technical capabilities expected to benefit [42][43] Summary by Sections Humanoid Robots - The humanoid robot industry is seeing rapid industrialization, with major tech companies entering the market and expected mass production of Tesla's Optimus robot by the end of next year [15][16] - Key components suppliers in the T-chain are likely to benefit from the anticipated production ramp-up [16][17] Electric Vehicles - CATL's sodium battery demonstrates significant advantages in cost and performance, with the price of lithium carbonate impacting battery costs, while sodium batteries are expected to see widespread adoption [19][20] Renewable Energy - Domestic energy storage installations are on a growth trajectory, with leading companies in system integration and inverters set to benefit from the expanding market [23] - The photovoltaic sector is expected to grow due to advancements in HJT technology and increased global demand for solar installations [26][31] Wind Power - China's wind power equipment exports are increasing, with leading companies poised to capitalize on both domestic and international opportunities [27][40] Electric Equipment & AIDC - The electric equipment sector is entering a favorable cycle, with companies that have strong technical capabilities and market presence expected to benefit from increased overseas demand [42][43]