Group 1 - The company has not distributed cash dividends, issued bonus shares, or increased capital from reserves during the reporting period [3] - All directors attended the board meeting that reviewed the report [2] - There were no changes in the controlling shareholder or actual controller during the reporting period [4] Group 2 - The company does not require retrospective adjustments or restatements of previous accounting data [3] - There are no preferred shareholders or related information during the reporting period [4] - The company has not issued any non-standard audit opinions [3]

| 证券投 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 资基金 | | | | | | | | 香港中 | | | | | | | | 央结算 | 境外法 | | | | | | | 有限公 | 人 | | | | | | | 司 | | | | | | | | 境内自 | | | | | | | | 许颇 | | 1.16% | 4,612,984 | | 不适用 | | | 然人 | | | | | | | | 中国农 | | | | | | | | 业银行 | | | | | | | | 0.89% | 其他 | | 3,537,243 | | 不适用 | | | 股份有 | | | | | | | | 限公司 | | | | | | | | | | | | | 锦浪科技股份有限公司 | 2025 年半年度报 | | 告摘要 | | | | | | | | －中证 | | | | | | | | 型开放 | | | | | | | | 式指数 | | | | | | | | 证券投 | | | | | | | | 资基金 | | ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company benefits from increased demand in Europe and Asia, Africa, and Latin America, with Q2 energy storage exceeding expectations and showing significant growth [9] - The company's household and commercial power station scale remains stable, continuously contributing to cash flow and profits [3] - The company achieved a revenue of 3.0 billion yuan from distributed power stations, maintaining stability year-on-year, while household power stations generated approximately 8.1 billion yuan, a 4% increase year-on-year [3] Financial Performance Summary - In H1 2025, the company reported a revenue of 37.9 billion yuan, a year-on-year increase of 13%, and a net profit attributable to shareholders of 6.0 billion yuan, up 71% year-on-year [9] - The company’s revenue from energy storage in H1 2025 reached 7.9 billion yuan, a year-on-year increase of 314%, with a gross margin of approximately 30% [9] - The company’s operating expenses in H1 2025 were 7.4 billion yuan, a 4% increase year-on-year, with a slight decrease in the expense ratio [9] Earnings Forecast and Valuation - The earnings forecast for the company is maintained for 2025, with slight downward adjustments for 2026 and 2027. The expected net profits for 2025-2027 are 11.6 billion, 14.5 billion, and 17.7 billion yuan respectively, with corresponding growth rates of 68%, 25%, and 22% [9] - The projected P/E ratios for 2025-2027 are 22, 18, and 14 times respectively [9]

东吴证券8月14日发布研报称，给予锦浪科技（300763.SZ，最新价：64.2元）买入评级。评级理由主要 包括：1）受益欧洲及亚非拉需求提升、25Q2储能出货环比翻倍增长；2）公司户用及工商业电站规模 基保持稳定、持续贡献稳定现金流及利润；3）2025年上半年期间费率略有下滑、公司存货略有下行、 经营性净现金有所提升。风险提示：竞争加剧，政策不及预期。 （文章来源：每日经济新闻） ...

Group 1 - China Telecom reported a net profit of RMB 23.017 billion for the first half of 2025, an increase of 5.5% year-on-year [1] - The company's total operating revenue for the same period was RMB 269.42 billion, reflecting a year-on-year growth of 1.3% [1][2] - The net profit attributable to shareholders after excluding non-recurring gains and losses was RMB 21.721 billion, a slight increase of 0.2% year-on-year [1][2] Group 2 - Mobile communication service revenue reached RMB 106.6 billion, up 1.3% year-on-year, while fixed-line and smart home service revenue was RMB 64.1 billion, growing by 0.2% [3] - The number of mobile users increased to 433 million, and broadband users reached 199 million, with mobile ARPU at RMB 46 and broadband ARPU at RMB 48.3 [3] - Revenue from industrial digitalization was RMB 74.9 billion, with AIDC revenue growing by 7.4% [3] Group 3 - Xi'an Yicai's IPO on the Sci-Tech Innovation Board was approved, with projected revenue growth from RMB 1.055 billion in 2022 to RMB 2.121 billion in 2024, a compound annual growth rate of 41.83% [4] - Chipsea Technology plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and diversify financing [5] - Shunhao Co. also announced plans to issue H-shares and list on the Hong Kong Stock Exchange to support business transformation and global strategy [6] Group 4 - Heertai reported a net profit of RMB 354 million for the first half of 2025, a year-on-year increase of 78.65% [7] - Yiyuan Communication's net profit surged by 125.03% to RMB 471 million, driven by core business improvements and diversification [8] - Jifeng Co. achieved a net profit of RMB 154 million, a significant increase of 189.51%, despite a revenue decline of 4.39% [9]

Group 1 - The core viewpoint of the article highlights that Jinlang Technology (300763) reported a significant increase in net profit for the first half of 2025, achieving approximately 602 million yuan, which represents a year-on-year growth of 70.96% [1] - In the first half of 2025, Jinlang Technology achieved an operating revenue of approximately 3.794 billion yuan, reflecting a year-on-year increase of 13.09% [1] - The company specializes in the research, production, sales, and service of string inverters, with its main products being grid-connected inverters and energy storage inverters [1] Group 2 - As of the close on August 14, Jinlang Technology's stock price was reported at 64.2 yuan per share, with a total market capitalization of 25.56 billion yuan [1]

格隆汇8月14日丨锦浪科技(300763.SZ)公布2025年半年度报告，上半年公司实现营业收入37.94亿元，同 比增长13.09%；归属于上市公司股东的净利润6.02亿元，同比增长70.96%；归属于上市公司股东的扣除 非经常性损益的净利润5.49亿元，同比增长71.80%；基本每股收益1.52元。 ...

非经营性资金占用及其他关联资金往来情况汇总表 | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公 司的关联关系 | 上市公司核算的 会计科目 | 2025年期初 古用资金余额 | 2025年1-6月占 用累计发生金额 (不含利息) | 2025年1-6月 占用资金的利 日 | 2025年1-6月 偿还累计发生 金额 | 2025年6月期末 占用资金余额 | 占用形成原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | (如有) | | | | | | 控股股东、实际控制人及其附 | | | | | | | | | | 非经营性占用 | | 属企业 | | | | | | | | | | 非经营性占用 | | 小 计 | | - | | | | | | | | | | 前控股股东、实际控制人及其 | | | | | | | | | | 非经营性占用 | | 附属企业 | | | | | | | | | | 非经营性占用 | | 小 计 | | - | | | | | | ...

锦浪科技股份有限公司 董事、监事、高级管理人员 关于 2025 年半年度报告的书面确认意见 （本页无正文，为《锦浪科技股份有限公司董事、监事、高级管理人员关于 2025 年半年度报告的书面确认意见》之签字页） 全体董事： 王一鸣 郭俊强 张 婵 何睿 李育杉 楼红英 胡华权 全体监事： 张丽 贺华挺 陈益丹 高级管理人员： 王一鸣 郭俊强 张 婵 陆荷峰 根据《证券法》第八十二条的要求，本人作为锦浪科技股份有限 公司的董事、监事、高级管理人员，保证公司 2025 年半年度报告内 容真实、准确、完整，不存在任何虚假记载、误导性陈述或者重大遗 漏。 锦浪科技股份有限公司 2025 年 8 月 15 日 ...

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。 锦浪科技股份有限公司 2025 年半年度报告全文及其摘要于 2025 年 8 月 15 日 在中国证监会指定的创业 板信息披露网站巨潮资讯网 (www.cninfo.com.cn)上披露，敬请投资者查阅。 特此公告。 锦浪科技股份有限公司 证券代码：300763 证券简称：锦浪科技 公告编号：2025-074 锦浪科技股份有限公司 2025 年半年度报告披露提示性公告 2025 年 8 月 15 日 董事会 ...