Group 1 - WanTai Biologics' nine-valent HPV vaccine has been approved for market launch, targeting women aged 9-45, enhancing the company's product line and core competitiveness [3] - Hainan Huatie is planning to issue shares overseas and list on the Singapore Exchange to advance its international strategy and enhance brand influence [4] - HeXing Co. clarified that it is not involved in "unmanned logistics vehicles" or "autonomous driving" businesses, despite market speculation [5] Group 2 - Maiwei Co. intends to invest 100 million yuan in a fund focused on growth-stage companies in the new energy and semiconductor sectors [6] - SuKun Agricultural Development plans to acquire 28.75% of JinTaiSun Grain and Oil for 178 million yuan, increasing its stake to 80% [7] - CITIC Construction Investment has received approval to issue up to 8 billion yuan in technology innovation corporate bonds to professional investors [8] Group 3 - Beibu Gulf Port reported a cargo throughput of 30.86 million tons in May, a year-on-year increase of 6.43%, with a cumulative throughput of 143 million tons for the year, up 12.96% [10] - Kweichow Moutai has repurchased 3.31 million shares for a total expenditure of 5.1 billion yuan by the end of May [12] - Contemporary Amperex Technology has repurchased 6.64 million A-shares for a total of 1.55 billion yuan by May 31 [13] - Jialong Co. has adjusted its share repurchase price ceiling from 2.20 yuan to 3.50 yuan due to recent stock price increases [14] Group 4 - China Electric Power Construction's subsidiary has won a 6.282 billion yuan energy storage project contract [16] - Xili Technology has been awarded a 1.31 billion yuan project by the State Grid for smart energy meters [17]

证券代码：300751 证券名称：迈为股份 公告编号：2025-034 苏州迈为科技股份有限公司 关于与专业机构共同投资的公告 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。 特别提示： 1、本次投资事项尚需进行工商变更登记、基金备案等手续，具体实施情况 和进度尚存在不确定性。 2、投资基金具有周期长、流动性较低的特点，本次投资存在回收期较长、 短期内不能为公司贡献利润的风险。 3、本次投资基金在投资过程中可能受到宏观经济、行业周期、监管政策、 投资标的公司经营管理等多方面影响，可能面临投资后无法实现预期收益、不能 及时有效退出的风险，甚至可能存在投资失败及基金亏损的风险，本基金无保本 及最低收益承诺。 4、本次投资事项不存在同业竞争，不构成关联交易，也不构成重大资产重 组。 一、与专业投资机构共同投资的情况 （一）基本情况 根据公司战略规划的需要，为进一步拓展公司业务领域，更好地借助专业机 构的专业力量及资源优势，整合各方资源，提高公司的综合竞争力。公司拟与专 业投资机构上海朝希私募基金管理有限公司（以下简称"朝希私募"、"基金管 理人"）、宁波玄理企业管理 ...

Group 1 - The company, Maiwei Co., Ltd. (300751), announced its plan to invest 100 million yuan as a limited partner in the Zhangjiagang Chaoxi Youzhi No. 2 Equity Investment Partnership (Limited Partnership) [1] - The investment fund will primarily focus on growth-stage companies in the domestic Chinese sectors of new energy and electronic semiconductors [1]

Core Viewpoint - Maiwei Co., Ltd. plans to raise up to 1.967 billion yuan through convertible bonds to invest in the industrialization of perovskite tandem solar cell equipment, indicating a strong commitment to the perovskite sector amid growing industry demand [1][2][3] Investment Project Summary - The total investment for the perovskite tandem solar cell equipment project is estimated at 2.138 billion yuan, with Maiwei and its subsidiary responsible for development and production [2] - The project aims to produce 20 sets of perovskite tandem solar cell manufacturing equipment annually after a three-year construction period, with projected annual sales revenue of 4 billion yuan and net profit of approximately 600 million yuan [2] - The financial internal rate of return for the project is estimated at 19.92%, with a payback period of 7.43 years [2] Industry Context - The perovskite and perovskite tandem cell sectors are experiencing significant investment interest, with major companies like Longi Green Energy and Tongwei Co. actively engaging in research and development [3] - The theoretical efficiency of single-junction perovskite solar cells is 33%, while perovskite-silicon tandem cells could reach around 43%, surpassing traditional silicon cell efficiency limits [2][3] - A total of 23 financing events in the perovskite battery field were recorded from 2024 to March 2025, highlighting the sector's growing investment activity [3] Company Development and Financial Performance - Maiwei has invested 1.714 billion yuan in R&D over the past two years, reflecting a strong focus on innovation [1][7] - The company has seen rapid revenue growth since its listing in 2018, with revenues increasing from 788 million yuan in 2018 to 8.089 billion yuan in 2023, representing a compound annual growth rate of approximately 65.55% [6] - Despite challenges in the photovoltaic industry, Maiwei's revenue for 2024 is projected at 9.83 billion yuan, a year-on-year increase of 21.53% [7] R&D and Talent Acquisition - Maiwei has accumulated 640 patents and 197 software copyrights, demonstrating its commitment to innovation [8] - The company has expanded its R&D team to 1,552 personnel, enhancing its capacity for technological advancement [8]

Core Viewpoint - The company, Maiwei Co., Ltd. (300751), plans to increase investment in the perovskite solar cell equipment sector by issuing convertible bonds to raise up to 1.967 billion yuan for a project with a total investment of 2.138 billion yuan [1][2]. Group 1: Investment and Financial Projections - The fundraising project aims to implement the industrialization of perovskite tandem solar cell equipment, with a construction period of three years and an expected annual production capacity of 20 sets of equipment upon completion [1]. - The project is projected to generate an annual sales revenue of 4 billion yuan and a net profit of approximately 600 million yuan, with a financial internal rate of return of 19.92% and a payback period of 7.43 years [1]. Group 2: Industry Context and Technological Advancements - The photovoltaic industry is experiencing intensified competition, with technological innovation and cost reduction being key themes. Perovskite solar cells are gaining attention due to their high photoelectric conversion efficiency and significant cost reduction potential [2]. - The average conversion efficiency of N-type cells is expected to reach 26% by 2024, approaching the theoretical limit of 29.4%. The theoretical efficiency of single-junction perovskite solar cells can reach 33%, while perovskite-silicon tandem cells could achieve around 43% [2]. Group 3: Company Performance and Diversification - Maiwei Co., Ltd. has been focusing on the midstream battery production segment of the photovoltaic industry, with its main products including HJT heterojunction high-efficiency battery production lines and fully automated solar cell screen printing lines [1]. - The company has seen a compound annual growth rate of over 50% in revenue over the past three years, achieving a revenue of 9.83 billion yuan in 2024, a year-on-year increase of 22%, and a net profit of 926 million yuan, up 1.3% [3]. - In addition to consolidating its photovoltaic business, the company is actively expanding into new areas, developing core equipment for display panels and semiconductor packaging, with revenue from these sectors reaching 67.08 million yuan in 2024, an increase of 88% year-on-year [3].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company plans to issue convertible bonds to raise nearly 2 billion RMB for expanding its production capacity in perovskite tandem solar cells [7] - The perovskite tandem technology is gaining traction, with multiple players entering the market, indicating a robust investment demand [7] - The company has developed the capability to deliver complete production lines for perovskite-silicon tandem solar cells, leveraging its existing technology in heterojunction solar cell manufacturing [7] Financial Projections - Total revenue is projected to reach 9,830 million RMB in 2024, with a year-on-year growth of 21.53%, followed by a decline to 7,561 million RMB in 2025 [1][8] - The net profit attributable to the parent company is expected to be 925.91 million RMB in 2024, with a slight increase of 1.31% from the previous year, and a forecast of 764.86 million RMB in 2025 [1][8] - The earnings per share (EPS) is estimated to be 3.31 RMB in 2024, decreasing to 2.74 RMB in 2025 [1][8] - The price-to-earnings (P/E) ratio is projected to be 20.97 in 2024 and 25.38 in 2025 [1][8]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company plans to issue convertible bonds to raise nearly 2 billion RMB for expanding its production capacity in perovskite tandem solar cells [7] - The perovskite tandem technology is gaining traction, with multiple players entering the market, indicating a growing investment demand [7] - The company has developed the capability to deliver complete production lines for perovskite-silicon tandem solar cells, leveraging its existing technology in heterojunction cell manufacturing [7] - The projected annual revenue from the new perovskite tandem solar cell manufacturing equipment is estimated at 4 billion RMB, with a net profit of 600 million RMB [7] Financial Summary - Total revenue forecast for 2023 is 8,089 million RMB, with a year-on-year growth of 94.99% [1] - The net profit attributable to the parent company for 2023 is projected at 913.90 million RMB, reflecting a year-on-year increase of 6.03% [1] - Earnings per share (EPS) for 2023 is estimated at 3.27 RMB, with a price-to-earnings (P/E) ratio of 21.24 [1] - The company expects net profits of 764.86 million RMB in 2025, with a decline of 17.39% year-on-year, followed by a recovery in subsequent years [1][8]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company plans to issue convertible bonds to raise nearly 2 billion RMB for expanding its production capacity in perovskite tandem solar cells, with a total investment of 2.138 billion RMB for the project [7] - The project aims to produce 20 sets of perovskite tandem solar cell manufacturing equipment annually, generating an expected annual revenue of 4 billion RMB (excluding tax) and a net profit of 600 million RMB [7] - The development of perovskite tandem technology is accelerating, with multiple players entering the market, indicating a growing investment demand in the industry [7] - The company has established the capability for complete line delivery of perovskite-silicon tandem battery equipment, leveraging its experience in heterojunction battery manufacturing [7] - The profit forecast for the company indicates a net profit of 764.86 million RMB in 2025, with a projected growth to 1.097 billion RMB by 2027 [7] Financial Summary - Total revenue is projected to be 8,089 million RMB in 2023, with a year-on-year growth of 94.99%, and is expected to reach 9,830 million RMB in 2024 [1] - The net profit attributable to the parent company is forecasted to be 913.90 million RMB in 2023, with a slight increase to 925.91 million RMB in 2024 [1] - The earnings per share (EPS) is expected to be 3.27 RMB in 2023, slightly increasing to 3.31 RMB in 2024 [1] - The price-to-earnings (P/E) ratio is projected to be 21.24 for 2023 and decrease to 20.97 for 2024 [1]

Core Viewpoint - The company, Maiwei Co., plans to issue convertible bonds to raise up to approximately 1.967 billion yuan for the industrialization project of perovskite tandem solar cell equipment, seizing opportunities in the photovoltaic battery technology development [2][3]. Group 1: Project Overview - The total planned investment for the perovskite tandem solar cell equipment industrialization project is 2.138 billion yuan, with 1.9666752 billion yuan to be raised through the bond issuance [3]. - The project will be implemented by Maiwei Co. and its wholly-owned subsidiary Xuancheng Maiwei Intelligent Equipment Manufacturing Co., with construction locations in Suzhou and Xuancheng [3]. - The project aims to achieve an annual production capacity of 20 sets of perovskite tandem solar cell manufacturing equipment after a construction period of three years [3]. Group 2: Market Potential and Industry Trends - The company recognizes the growing potential of perovskite and perovskite tandem batteries, with active investment demand in the industry [4]. - Several leading companies in the crystalline silicon battery sector, such as Longi Green Energy and Tongwei Co., have begun research and development of perovskite crystalline silicon tandem batteries, transitioning from experimental lines to pilot and small-scale production lines [4]. - From 2024 to March 2025, there have been 23 financing events in the perovskite battery sector, indicating a robust investment landscape [4]. Group 3: Financial Performance - In 2024, the company's revenue reached 9.83 billion yuan, a year-on-year increase of 21.53%, while the net profit attributable to shareholders was 926 million yuan, up 1.31% [5]. - In the first quarter of the current year, the company reported revenue of 2.229 billion yuan, a slight increase of 0.47%, but the net profit attributable to shareholders decreased by 37.69% to 162 million yuan [5].

Group 1: Share Buybacks and Investments - China Communications Construction Company plans to repurchase shares worth between 500 million to 1 billion yuan, with a maximum repurchase price of 13.58 yuan per share [6] - Yingtan Technology intends to adjust the upper limit of its share repurchase price from 38 yuan to 65.04 yuan per share due to recent stock price increases [3] - Zhongjian Technology is set to invest 1.402 billion yuan in a high-performance carbon fiber product project, aiming for an annual production capacity of 2,000 tons [13] Group 2: Mergers and Acquisitions - Zhejiang Longsheng plans to acquire a 37.57% stake in its subsidiary, Desida, for 697 million USD, aiming to resolve litigation issues and consolidate ownership [9] - Bohai Automotive intends to purchase equity stakes in several companies, with its stock set to be suspended from trading starting June 3, 2025, for up to 10 trading days [4] Group 3: Regulatory and Compliance Issues - Aerospace Morningstar has been suspended from participating in military procurement activities due to reported violations [2] - ST Baili received an administrative penalty notice from the Hunan Securities Regulatory Bureau for failing to disclose non-operating fund occupation matters, facing fines totaling 4 million yuan [8] - Jinfu Technology has also received an administrative penalty notice for falsely reporting revenue, with proposed fines totaling 7.5 million yuan [12] Group 4: New Listings and Stock Changes - Jiewate has submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange, pending regulatory approvals [4] - ST Gengxing will change its stock name to ST Haiqin starting June 6, 2025, while maintaining its stock code [5]