智通财经APP讯，锦浪科技(300763.SZ)公告，公司近日收到中国证券监督管理委员会出具的《关于同意 锦浪科技股份有限公司向不特定对象发行可转换公司债券注册的批复》，同意公司向不特定对象发行可 转换公司债券的注册申请。 ...

证券代码：300763 证券简称：锦浪科技 公告编号：2025-079 锦浪科技股份有限公司 关于向不特定对象发行可转换公司债券申请 获得中国证券监督管理委员会同意注册批复的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚假 记载、误导性陈述或者重大遗漏。 三、本批复自同意注册之日起 12 个月内有效。 四、自同意注册之日起至本次发行结束前，你公司如发生重大事项，应及时 报告深圳证券交易所并按有关规定处理。 公司董事会将按照上述批复文件和相关法律法规的要求以及公司股东大会 的授权，在规定期限内办理本次向不特定对象发行可转换公司债券的相关事项， 并及时履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 锦浪科技股份有限公司 董事会 2025 年 9 月 23 日 锦浪科技股份有限公司（以下简称"公司"）于近日收到中国证券监督管理 委员会出具的《关于同意锦浪科技股份有限公司向不特定对象发行可转换公司债 券注册的批复》（证监许可〔2025〕2104 号）（以下简称"批复"），现将批复文 件内容公告如下： 一、同意你公司向不特定对象发行可转换公司债券的注册申请。 二、你公司本次发行应严格 ...

Core Viewpoint - The photovoltaic ETF (159857) has shown significant trading activity and net subscriptions, indicating strong investor interest in the solar industry despite ongoing supply-demand mismatches in the sector [3][5]. Group 1: ETF Performance - As of September 18, 2025, the photovoltaic ETF (159857) recorded a turnover of 8.33% with a transaction volume of 207 million yuan [3]. - The ETF has seen a net subscription of 42 million shares during the trading session, reflecting a positive market sentiment [3]. Group 2: Industry Trends - The photovoltaic industry is experiencing a recovery in pricing, with polysilicon prices stabilizing around 50,000 yuan per ton as of mid-September [8]. - The price of silicon wafers has also shown improvement, reaching between 1.3 to 1.65 yuan per piece, allowing companies to achieve slight profits [8]. - The component market is witnessing rational price increases, with a recent tender by Huadian Group for double-sided double-glass components showing an average bid price exceeding 0.71 yuan/W [8]. Group 3: Institutional Insights - Guohai Securities suggests that the renewable energy sector, particularly solar power, is poised to benefit from a reduction in "involution" competition, leading to a gradual recovery in profitability across the industry [9]. - The solar sector is highlighted as a representative industry of this "anti-involution" trend, with expectations of policy support continuing into the second half of 2024 [9]. - Guojin Securities reports a significant increase in domestic energy storage system and EPC bidding, with a year-on-year growth of 521.7% and 517.4% respectively in August 2025 [9]. Group 4: International Market Dynamics - The overseas energy storage market is experiencing a surge in orders, leading to high demand for storage cells and systems, with major domestic companies unable to meet new demand due to full production lines [10].

Core Viewpoint - Recently, Hainan Jinlang New Energy Co., Ltd. was established with a registered capital of 300 million yuan, fully owned by Jinlang Technology (300763) [1] Group 1: Company Overview - Hainan Jinlang New Energy Co., Ltd. has a registered capital of 300 million yuan [1] - The company is fully owned by Jinlang Technology (300763) [1] Group 2: Business Scope - The business scope includes sales of solar thermal utilization equipment [1] - The company also engages in sales of solar thermal power generation equipment [1] - Additionally, it sells solar thermal utilization products and solar thermal power generation products [1]

Core Viewpoint - Recently, Hainan Jinlang New Energy Co., Ltd. was established with a registered capital of 300 million yuan, focusing on the sales of solar thermal utilization and power generation equipment [1] Company Summary - Hainan Jinlang New Energy Co., Ltd. is wholly owned by Jinlang Technology (300763) [1] - The company's business scope includes sales of solar thermal utilization equipment, solar thermal power generation equipment, and related products [1]

Core Insights - The 2025 World Energy Storage Conference opened in Ningde, where the Ministry of Industry and Information Technology released the "New Energy Storage Technology Development Roadmap (2025-2035)", aiming for over 180 million kilowatts of new energy storage capacity by 2027, over 240 million kilowatts by 2030, and over 300 million kilowatts by 2035 [1][2] Group 1: Industry Development Plans - The roadmap outlines development goals for new energy storage technologies, including electrochemical storage, electromagnetic storage, mechanical storage, thermal storage, and hydrogen storage [1] - The "Action Plan for Large-Scale Construction of New Energy Storage (2025-2027)" was issued, targeting over 180 million kilowatts of new energy storage capacity by 2027, with an expected direct investment of approximately 250 billion yuan [2] Group 2: Investment and Project Signings - During the conference, 22 new industrial projects were connected in Ningde, with a total planned investment of 36.7 billion yuan, and 18 projects were signed with a total investment of 24.58 billion yuan, covering new batteries, energy storage systems, new materials, and zero-carbon parks [1] - The commercial model innovation is seen as a key driver for future growth in the energy storage sector, with expectations for improved economic efficiency through coupling with wind and solar installations [2] Group 3: Company Performance - A total of 20 energy storage concept stocks reported net profits exceeding 100 million yuan in the first half of the year, with five companies achieving over 1 billion yuan in net profit, including CATL, BYD, and Sungrow [3][4] - BYD reported a revenue of 371.28 billion yuan in the first half of the year, a year-on-year increase of 23.3%, and signed the world's largest energy storage project contract with a capacity of 12.5 GWh [3] - Sungrow's energy storage system revenue reached 17.80 billion yuan, a year-on-year increase of 127.78%, with its revenue share surpassing that of its photovoltaic inverter business for the first time [3] Group 4: Profit Growth Analysis - Shanshan Co. led in net profit growth with a year-on-year increase of 1079.59%, followed by Jinlang Technology and Camel Group with increases of 70.96% and 69.46%, respectively [4] - The demand for lithium battery materials continues to grow due to the high market demand for new energy vehicles and energy storage, with Shanshan Co. reporting a revenue of 9.858 billion yuan in the first half of the year [4]

Group 1 - The core viewpoint of the news highlights the significant rise in the solid-state battery concept, with the 创50ETF (159681) increasing by 2.95% and key component stocks like 宁德时代 (300750) rising by 13.70% [1] - The 创业板 (ChiNext) is showing a "multi-dimensional coexistence" characteristic, with new energy remaining a core strength alongside AI hardware stocks [1] - The 创业板50指数 (399673) top ten weighted stocks account for 68.14% of the index, indicating a concentration of market influence among these companies [2] Group 2 - The 创50ETF closely tracks the 创业板50指数, which consists of the 50 stocks with the highest average daily trading volume in the ChiNext market [1] - The report suggests that future growth in the 创业板 will depend not only on the AI industry's performance but also on the demand growth for solid-state batteries [1] - The supply-side recovery, supported by anti-involution policies, is expected to drive the valuation of the sector upward [1]

Core Viewpoint - KeliKe (002782) highlighted its long-term partnership with Haiguang Electronics, a prominent manufacturer of magnetic components in China, emphasizing its strong technical experience and customer resources [1] Company Overview - Haiguang Electronics was established in 1988 and has focused on the research, manufacturing, and sales of magnetic component products [1] - The company has accumulated rich experience in technology, customer resources, and talent reserves, making it a well-known producer and solution provider in the domestic magnetic component market [1] Partnerships and Clientele - Haiguang Electronics has collaborated with Huawei for over 20 years, becoming a major supplier of magnetic components for the company [1] - The company also serves as an important supplier for other notable enterprises such as Sungrow Power Supply (300274), Jinlang Technology (300763), BYD (002594), Weimaisi, Telai Electric, and Yingboer (300681) [1]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [3][4]. Core Views - The company's revenue for the first half of 2025 reached 3.794 billion yuan, a year-on-year increase of 13.09%, while net profit attributable to shareholders was 602 million yuan, up 70.96% year-on-year [1]. - The significant growth in profit is attributed to the high increase in energy storage inverter shipments, optimization of customer structure, and ongoing cost reduction efforts [1]. - The revenue from energy storage inverters surged to 790 million yuan, reflecting a year-on-year growth of 313.51%, with a gross margin of 30.27%, an increase of 2.69 percentage points [1]. - The company plans to issue convertible bonds to raise no more than 1.677 billion yuan for projects related to distributed photovoltaic power stations and high-voltage, high-power grid-connected inverters [2]. - The expected revenue for 2025-2027 is projected to be 8.302 billion yuan, 9.819 billion yuan, and 11.283 billion yuan, representing year-on-year growth rates of 26.9%, 18.3%, and 14.9% respectively [3]. Summary by Sections Revenue and Profitability - The company achieved a revenue of 3.794 billion yuan in the first half of 2025, with a net profit of 602 million yuan, marking significant year-on-year growth [1]. - The gross margin for grid-connected inverters was 26.12%, up 7.62 percentage points year-on-year, while the gross margin for energy storage inverters was 30.27% [1]. Market Expansion and Future Prospects - The company is expected to enhance its production capacity significantly with the new projects, which will strengthen its competitive position in the inverter and distributed power station markets [2]. - The anticipated revenue growth for the next three years indicates a robust upward trend in the company's financial performance [3]. Financial Forecast - The forecasted net profit for 2025 is 1.187 billion yuan, with a year-on-year growth of 71.7%, and projected profits for 2026 and 2027 are 1.483 billion yuan and 1.789 billion yuan respectively [3].

Core Viewpoint - The solar photovoltaic demand in Q2 2025 has rapidly increased due to domestic rush installations, leading to a recovery in revenue and gross margins for major industry chain companies. Additionally, the easing of U.S. tariffs has significantly improved profitability in the U.S. market after companies streamlined their supply chains [1] Industry Chain Summary - The revenue of the main industry chain has increased, and gross margins have generally recovered, although there is differentiation among segments and companies. The downstream battery and module prices have risen quickly due to the rush installations, while the performance of silicon materials and wafers continues to decline marginally. Overall gross margin recovery is noted, but the increase in shipment volumes has not significantly reduced overall losses in the sector [1] - In Q2 2025, the output of slurry slightly increased quarter-on-quarter, but performance was heavily impacted by costs. The introduction of low-cost metal slurry production is expected to provide significant revenue and profit growth opportunities for slurry companies. The profitability of junction boxes, frames, and solder strips has been under pressure, while overseas production capacity for frames has shown strong contributions. Glass and film prices and profits have recovered due to domestic rush installations, with strong demand for centralized inverters and energy storage systems [2] Financial Outlook - The financial statements for Q3 2025 are expected to show further recovery, with a focus on the progress of reducing internal competition. Since July, the price of silicon materials has risen significantly, and downstream silicon wafers and battery modules have experienced varying degrees of price adjustments. The overall profit and operating cash flow for the sector are anticipated to improve further in Q3 2025, although the performance of the module segment may face some pressure quarter-on-quarter. Glass and film prices are expected to gradually rise above the production cost line of second-tier leading companies [3] Recommended Companies - Recommended companies include: - Silicon material segment: Tongwei Co., Ltd. (600438.SH) - High-efficiency module leader: JinkoSolar (688233.SH) - New technology BC and slurry: Dike Co., Ltd. (300842.SZ), Juhe Materials (688503.SH) - Racking: CITIC Bo (688408.SH) - Glass: Xinyi Solar (00968), Flat Glass (601865.SH) - Inverters and energy storage: Deye Technology (605117.SH), Jinlang Technology (300763.SZ), Shangneng Electric (300827.SZ), Canadian Solar (688472.SH) [4]