Group 1 - The company, Jinlang Technology, sells products in the United States, including grid-connected inverters and energy storage inverters, primarily used in the photovoltaic power generation sector [2]

Core Viewpoint - Jinlang Technology is actively exploring new technologies, scenarios, and industrial cooperation opportunities that align with its main business [2] Group 1 - The company is focused on maintaining synergy with its core business while seeking innovative solutions [2]

Group 1 - The core point of the article is that Jinlang Technology (300763) has responded to investor inquiries, indicating that the total number of shareholders is expected to reach 69,606 by December 31, 2025 [1]

Core Viewpoint - The company, Jinlang Technology, has indicated that its products are currently not involved in the space photovoltaic sector but will continue to monitor developments in this area [2] Group 1 - An investor inquired whether the company's products can be used for space photovoltaics [2] - Jinlang Technology responded on the investor interaction platform regarding the inquiry [2]

Core Viewpoint - The energy storage PCS market is experiencing a "volume and price rise" period as multiple provinces enter critical stages of project delivery and grid connection, leading to tight PCS delivery and an upward price trend [1] Company Summary - Jinlang Technology (300763.SZ) identifies energy storage as a key business area, with related orders being produced and delivered in an orderly manner [1] - The company reported a 300% year-on-year growth in energy storage inverters in the first half of the year [1] - Specific sales data for energy storage PCS products will be available in the company's regular reports [1]

Group 1 - The core viewpoint of the article is that Jinlang Technology (300763.SZ) is currently not involved in the space photovoltaic sector but will continue to monitor developments in this area [1] Group 2 - The company has stated that its products do not currently cover the space photovoltaic field [1] - The company expresses a commitment to keep an eye on advancements in related fields [1]

Core Insights - Ningbo has demonstrated robust economic growth, achieving a GDP of 1.35 trillion yuan in the first three quarters of 2025, with a year-on-year increase of 5.0% [1] - The city is home to 119 national manufacturing champions, maintaining its position as the leader in this category for eight consecutive years [2][3] - Emerging industries such as artificial intelligence, robotics, and high-tech services have seen significant investment growth, with increases of 9.3%, 41.2%, and 56.7% respectively [1] Economic Performance - Ningbo's GDP reached 1.35 trillion yuan in the first three quarters of 2025, reflecting a 5.0% year-on-year growth [1] - The city has a diverse economic structure, with strong performance in manufacturing, foreign trade, and logistics [1] Innovation and Technology - Approximately 90% of R&D institutions, personnel, and investments, as well as over 80% of invention patents, originate from enterprises in Ningbo [2] - The number of high-tech enterprises in Ningbo has reached 8,855, with an average annual growth rate exceeding 30% over the past three years [2] - Ningbo's innovation landscape includes significant contributions from companies like Long阳科技, which has captured a 55% market share in optical reflection films globally [3] Industry Development - The humanoid robot industry in Ningbo has expanded rapidly, with the number of companies capable of producing humanoid robots increasing from 3 to 8 since 2025 [5] - The city has established a strong presence in the new energy vehicle supply chain, housing 22 single-item champions and 97 specialized "little giant" enterprises [4][5] Financial Support and Investment - The financial sector in Ningbo has shown robust growth, with a value added of 1,224.3 billion yuan in the first three quarters of 2025, marking a 13.8% increase [12] - As of October 2025, the balance of loans to the manufacturing sector reached 8,175.3 billion yuan, a 7.3% year-on-year increase [12] - Ningbo has implemented various financial tools to support technology-driven enterprises, including loans and financing policies [12][19] Market Expansion - Ningbo's exports to Central and Eastern European countries reached 45.45 billion yuan in the first three quarters of 2025, growing by 7% [11] - The city has organized over 300 enterprises to participate in exhibitions across 12 countries, achieving an intended transaction amount exceeding 500 million USD [10] Strategic Initiatives - Ningbo aims to establish 10 national-level innovation platforms and over 1,000 provincial-level R&D institutions by 2030 [7] - The city has introduced policies to enhance the integration of technology and industry, focusing on core technology breakthroughs and high-end brand development [14][16]

股票简称：锦浪科技 债券简称：锦浪转 02 股票代码：300763 债券代码：123259 国泰海通证券股份有限公司 关于锦浪科技股份有限公司涉及"锦浪转 02"转股价格修正 的临时受托管理事务报告 受托管理人 本报告依据《可转换公司债券管理办法》《公司债券发行与交易管理办法》 《公司债券受托管理人执业行为准则》《锦浪科技股份有限公司向不特定对象发 行可转换公司债券之受托管理协议》（以下简称"《受托管理协议》"）等相关规定 和约定、公开信息披露文件以及锦浪科技股份有限公司（以下简称"锦浪科技" "公司"或"发行人"）出具的相关说明文件以及提供的相关资料等，由受托管 理人国泰海通证券股份有限公司（以下简称"国泰海通"）编制。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断。 二〇二五年十二月 （住所：中国（上海）自由贸易试验区商城路 618 号） 重要声明 1 一、重大事项的基本情况 根据《锦浪科技股份有限公司 2025 年度向不特定对象发行可转换公司债券 募集说明书》（以下简称"《募集说明书》"）的规定：在本次发行的可转债存续期 间，当公司股票在任意连续三十个交易日中至少 ...

Core Viewpoint - The report from Guosheng Securities forecasts significant growth in the domestic energy storage industry, with expectations of a 111% year-on-year increase in new installations by 2026, reaching 283.63 GWh, and a conservative estimate of an average annual addition of over 200 GWh in domestic large-scale storage [1][4]. Domestic Large-Scale Storage - The domestic large-scale storage market is expected to benefit from policy incentives and increasing independent storage capacity, with a focus on how price transmission affects company performance [2][3]. - The price of lithium carbonate is projected to rise to 92,600 yuan per ton by December 2025, with a 13.4% month-on-month increase in the average bidding price for lithium battery energy storage EPC in November [2]. Overseas Storage Market - The trend of AI-integrated storage is anticipated to drive significant growth in the U.S. energy storage demand, with expected increments of 10 GWh in 2026, 27 GWh in 2027, and 39 GWh in 2028, accounting for 15%, 38%, and 40% of total U.S. storage demand respectively [5]. - The North American energy storage integration market is highly concentrated, with Tesla, Sungrow, and Powin being the top three market share holders [5]. International Household and Commercial Storage - The Australian household storage market is expected to grow significantly due to increased subsidies, with the government raising support to 7.2 billion AUD, while Hungary has initiated a 280 million USD subsidy plan for household storage [6]. - The demand for commercial storage in Europe, Southeast Asia, and Africa is projected to increase due to high electricity costs, with a long-term potential of 146 GWh in these regions [6]. Investment Targets - Key companies to watch in the large-scale storage sector include Sungrow (300274.SZ), Haibo Technology (688411.SH), Canadian Solar (688472.SH), Tongrun Equipment (002150.SZ), and Shuneng Electric (300827.SZ) [7]. - In the household storage segment, notable companies include Deye Technology (605117.SH), Airo Energy (688717.SH), Jinlang Technology (300763.SZ), Goodwe (688390.SH), Kstar (002518.SZ), and Pylon Technologies (688063.SH) [7].

Core Viewpoint - Jinko Technology's stock price decreased by 1.06% to 71.92 CNY per share, with a market capitalization of 28.632 billion CNY as of December 31 [1] Group 1: Company Overview - Jinko Technology Co., Ltd. is located in Xiangshan Economic Development Zone, Zhejiang Province, and was established on September 9, 2005, with its IPO on March 19, 2019 [1] - The company's main business involves the research, production, sales, and service of string inverters, with the revenue composition being: grid-connected inverters 47.97%, household photovoltaic power generation systems 21.28%, energy storage inverters 20.91%, new energy power production 8.01%, and others 1.83% [1] Group 2: Shareholder Insights - Tianhong Fund has a fund that ranks among Jinko Technology's top ten circulating shareholders, specifically Tianhong CSI Photovoltaic A (011102), which holds 1.8302 million shares, accounting for 0.57% of circulating shares [2] - The fund has a current scale of 2.449 billion CNY and has achieved a year-to-date return of 27.93%, ranking 2009 out of 4189 in its category [2] Group 3: Fund Performance - The fund manager of Tianhong CSI Photovoltaic A is Qi Shichao, who has been in the position for 344 days, with the fund's total asset scale at 32.53 billion CNY [3] - During Qi's tenure, the best fund return was 48.19%, while the worst was 7.47% [3] Group 4: Fund Holdings - Tianhong Fund also has another fund, Tianhong Guozheng New Energy Battery Index Initiation A (021963), which holds 41,000 shares of Jinko Technology, representing 2.5% of the fund's net value [4] - This fund was established on October 15, 2024, with a current scale of 38.4623 million CNY and has achieved a year-to-date return of 50.91%, ranking 643 out of 4189 in its category [4] Group 5: Additional Fund Manager Insights - The fund manager for Tianhong Guozheng New Energy Battery Index Initiation A is He Yuxuan, who has been in the role for 4 years and 185 days, with the fund's total asset scale at 9.413 billion CNY [5] - During He’s tenure, the best fund return was 101.32%, while the worst was -62.08% [5]