Investment Rating - The investment rating for the company is "Buy-A" with a target price of 24.58 CNY over the next six months, indicating a potential upside from the current price of 22.07 CNY [5]. Core Insights - The company has partnered with Ant Group to establish "Ant Chain Trust," focusing on green asset management and dynamic rating pricing using blockchain, IoT, and AI technologies [1][2]. - The collaboration aims to address the challenges in traditional green asset management, such as data silos and the inability to reflect real-time operational data and policy risks [2]. - The company is leveraging AI and Web3 technologies to enhance the lifecycle management of renewable energy assets, positioning itself as a core infrastructure provider in this sector [2][9]. - The report highlights the importance of real-world asset tokenization (RWA) as a growing category in the crypto market, with the company successfully completing the first RWA project based on renewable energy assets in China [3][9]. Financial Projections - The company is expected to achieve revenues of 51.73 billion CNY, 61.22 billion CNY, and 72.60 billion CNY for the years 2025, 2026, and 2027 respectively, with net profits projected at 5.31 billion CNY, 6.73 billion CNY, and 8.11 billion CNY for the same years [10]. - The projected earnings per share (EPS) for 2025, 2026, and 2027 are 0.49 CNY, 0.62 CNY, and 0.75 CNY respectively, with a dynamic price-to-earnings ratio of 50 times for 2025 [12][10].

Investment Rating - The report maintains a "Buy-B" investment rating for the company [1][9]. Core Viewpoints - The company has partnered with Ant Group to establish "Ant Chain Trust," focusing on green asset management and dynamic rating pricing using blockchain, IoT, and AI technologies [2][3]. - The collaboration aims to create a comprehensive service platform for the entire lifecycle of renewable energy assets, transforming fragmented green assets into measurable and tradable digital assets [3]. - The company is enhancing its "AI + Energy" strategy by establishing an AI research institute and launching its self-developed "Langxin Jiugong AI Energy Model," which achieved top rankings in international evaluations [4]. - The energy internet business continues to grow, with significant revenue from energy digitalization and internet services, including a 10% year-on-year increase in energy internet revenue [5][9]. Financial Performance and Projections - For the first half of 2025, the energy digitalization business generated revenue of 470 million yuan, while the energy internet business achieved 860 million yuan, with a gross margin of 54.4% [5]. - The company expects net profits of 300 million yuan, 460 million yuan, and 930 million yuan for the years 2025, 2026, and 2027, respectively, indicating a dynamic P/E ratio of 78.5 for 2025 [9][11]. - The projected revenue for 2025 is 5.126 billion yuan, with a year-on-year growth of 14.4%, and is expected to reach 8.363 billion yuan by 2027 [11][13].

Core Viewpoint - The recent notice from the National Development and Reform Commission and the Energy Administration aims to enhance the price mechanism to promote the nearby consumption of renewable energy, requiring that the annual self-consumption of renewable energy should account for no less than 60% of the total available generation capacity and 30% of total electricity consumption, with new projects starting from 2030 required to meet at least 35% [1] Investment Highlights - The notice recommends commercial rooftop photovoltaics and highlights the potential of companies like Ankerui. It emphasizes the need for projects to have metering conditions and for grid companies to install metering devices to accurately measure electricity data at various stages [1] - The bidding for large-scale energy storage in August exceeded expectations, with a recommendation for storage operators like Southern Grid Storage. The combination of AI and the finalized document No. 136 is expected to drive the economic viability of large-scale storage, with domestic demand exceeding expectations [1] - Southern Grid Storage is positioned to benefit significantly as a large-scale storage operator within the Southern Grid, with a projected cumulative installed capacity of 654,200 kW and 1,298,300 kWh by the first half of 2025, alongside 10.28 million kW of pumped storage capacity [1] Industry Core Data Tracking - Electricity prices saw a 2% year-on-year decrease and a 1.3% month-on-month increase in August 2025. The price of thermal coal was reported at 680 RMB/ton as of September 12, 2025, reflecting a week-on-week increase of 1 RMB/ton [2] - The water level at the Three Gorges Reservoir was recorded at 162.88 meters, with inflow and outflow rates showing significant year-on-year increases of 33.59% and 198.15%, respectively [2] - Total electricity consumption from January to July 2025 reached 5.86 trillion kWh, a year-on-year increase of 4.5%, with various sectors showing different growth rates [2] - Cumulative power generation for the same period was 5.47 trillion kWh, with a year-on-year increase of 1.3%, while installed capacity additions in the first half of 2025 showed significant growth in renewable sources like wind and solar [2] Investment Recommendations - Companies within the Southern Grid system, such as Southern Grid Energy, Southern Grid Storage, and Southern Grid Technology, are recommended for investment opportunities [3] - The green electricity sector is expected to see improvements in asset quality and growth potential, with specific companies highlighted for attention [3] - The value of photovoltaic assets and charging station assets is anticipated to be reassessed positively due to regulatory support and market dynamics [3] - Investment opportunities in thermal power, particularly in the Beijing-Tianjin-Hebei region, are also recommended [3] - The hydropower sector is expected to benefit from rising prices and low costs, with strong cash flow and dividend capabilities [3] - The nuclear power sector is projected to grow, with multiple approvals for new units expected to enhance profitability and dividends [3]

Group 1 - The core point of the article is that YueQi Capital Limited has reduced its stake in Langxin Group from 9.63% to 5.00% due to passive changes from convertible bond conversion, share buybacks, and asset acquisition [1] - YueQi Capital Limited has sold 10,222,162 shares, amounting to approximately 225 million yuan [1] - The reduction in shareholding occurred as of September 11, 2025 [1]

朗新科技集团股份有限公司 2、本次权益变动后，信息披露义务人持有公司股份 54,012,348 股，占公司 目前总股本的 5.00%（占剔除回购股份后公司总股本的 5.01%）。 一、本次权益变动的基本情况 持股 5%以上的股东 YUE QI CAPITAL LIMITED 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。 特别提示： 1、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； 证券代码：300682 证券简称：朗新集团 公告编号：2025-057 朗新科技集团股份有限公司 关于披露简式权益变动报告书的提示性公告 朗新科技集团股份有限公司（以下简称"公司"或"朗新集团"）收到持股 5%以上股东 YUE QI CAPITAL LIMITED（以下简称"YUE QI"或"信息披露义 务人"）出具的《简式权益变动报告书》，截至本报告书签署日，因公司可转债 转股、公司回购股份并注销、公司发行股份购买资产、信息披露义务人股份减持 等事项，信息披露义务人所持股份占上市公司总股本的比例由 9.63%减少至 ...

朗新科技集团股份有限公司 简式权益变动报告书 上市公司名称：朗新科技集团股份有限公司 信息披露义务人：Yue Qi Capital Limited 通讯地址：香港中环皇后大道中99号中环中心55层5505室 五、信息披露义务人承诺本报告书不存在虚假记载、误导性陈述或重大遗漏， 并对其真实性、准确性、完整性承担法律责任。 2 签署日期：2025年9月12日 1 上市地点：深圳证券交易所 股票简称：朗新集团 股票代码：300682 信息披露义务人声明 一、信息披露义务人根据《中华人民共和国公司法》《中华人民共和国证券 法》《上市公司收购管理办法》《公开发行证券公司信息披露内容与格式准则第 15号——权益变动报告书》及相关的法律、法规编制本报告书。 二、信息披露义务人签署本报告书已获得必要授权和批准，其履行亦不违反 信息披露义务人章程或内部规则中的任何条款，或与之相冲突。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》的规定，本 报告书已全面披露了信息披露义务人在朗新科技集团股份有限公司（简称"朗新 集团"或"上市公司"）拥有权益的股份变动情况。截至本报告书签署之日，除 本报告书披露的信息外，上述信息披露 ...

Core Viewpoint - Longxin Group and Ant Group announced the establishment of "Ant Chain Trust" at the New Energy Digital Asset Community Autumn Summit on September 10, leveraging their technological advantages to create a comprehensive service platform in the energy asset sector covering "asset on-chain, data aggregation, asset management, and rating pricing" [1] Group 1 - Longxin Group collaborates with Ant Group to enhance the energy asset field [1] - The new platform aims to provide a full-chain service for energy assets [1] - The initiative focuses on integrating technology to improve asset management and pricing [1]

Market Overview - The Shanghai Composite Index rose by 1.65% on September 11, with 31 out of 41 sectors experiencing gains, led by the communication and electronics sectors, which increased by 7.39% and 5.96% respectively [1] - The net inflow of capital in the two markets reached 34.518 billion yuan, with 11 sectors seeing net inflows, primarily in the electronics sector, which attracted 21.723 billion yuan [1] Computer Industry Performance - The computer industry saw a rise of 3.71%, with a net capital inflow of 8.479 billion yuan, and out of 335 stocks in this sector, 311 stocks increased in value, while 20 stocks declined [2] - The top three stocks by net capital inflow in the computer sector were Zhongke Shuguang with 1.878 billion yuan, followed by Zhinan Zhen and Inspur Information with 744 million yuan and 555 million yuan respectively [2] Capital Inflow and Outflow - The capital inflow leaderboard in the computer industry included Zhongke Shuguang (10.00% increase), Zhainan Zhen (9.20% increase), and Inspur Information (7.11% increase) [2] - The capital outflow leaderboard featured Gaweida with a slight decrease of 0.24%, followed by Langxin Group with a 4.27% decrease, and Jiadu Technology with a 0.14% decrease [3]

Group 1 - The core point of the news is that Langxin Group's stock price dropped by 8.42% to 22.31 CNY per share, with a trading volume of 196 million CNY and a turnover rate of 0.85%, resulting in a total market capitalization of 24.1 billion CNY [1] - Langxin Technology Group Co., Ltd. is located in Wuxi, Jiangsu Province, and was established on May 7, 2003, with its listing date on August 1, 2017. The company primarily operates in the public utility sector, focusing on business information systems technology and services, as well as home internet services [1] - The revenue composition of Langxin Group includes 60.91% from platform operations, 35.11% from software services, and 3.98% from other businesses [1] Group 2 - From the perspective of major fund holdings, data shows that Jin Xin Fund has one fund heavily invested in Langxin Group, specifically the Jin Xin Quantitative Selected Mixed A Fund (002862), which held 71,200 shares in the second quarter, accounting for 4.06% of the fund's net value, ranking as the eighth largest holding [2] - The Jin Xin Quantitative Selected Mixed A Fund (002862) was established on July 1, 2016, with a latest scale of 25.6 million CNY. Year-to-date, it has achieved a return of 37.5%, ranking 1345 out of 8175 in its category, and has a one-year return of 84.77%, ranking 623 out of 7982 [2]

Group 1 - The core viewpoint of the article is the establishment of "Ant Chain Trust" by Ant Group and Longxin Technology Group, focusing on green asset management and dynamic rating pricing using blockchain, IoT, and AI technologies [1] Group 2 - The announcement was made during the New Energy Digital Asset Community Autumn Summit on September 10 [1] - The new company aims to provide product services that leverage core technologies for managing green assets [1] - The collaboration highlights the increasing importance of technology in the management and valuation of sustainable assets [1]