证券代码：300763 证券简称：锦浪科技 公告编号：2025-089 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 中签号码公告 保荐人（主承销商）：国泰海通证券股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示 锦浪科技股份有限公司（以下简称"锦浪科技"或"发行人"）和国泰海通证 券股份有限公司（以下简称"国泰海通"、"保荐人（主承销商）"或"主承销商"） 根据《中华人民共和国证券法》《上市公司证券发行注册管理办法》（证监会令 〔第 227 号〕）、《证券发行与承销管理办法》（证监会令〔第 228 号〕）、《深圳证券 交易所上市公司自律监管指引第 15 号——可转换公司债券（2025 年修订）》（深证 上〔2025〕223 号）、《深圳证券交易所上市公司证券发行与承销业务实施细则 （2025 年修订）》（深证上〔2025〕268 号）和《深圳证券交易所创业板上市公司自 律监管指南第 1 号——业务办理（2025 年修订）》（深证上〔2025〕398 号）等相关 规定向不特定对象发行可转换公司债券（以下简称"可转债"或"锦浪转 0 ...

Summary of Key Points Core Viewpoint - Jinlang Technology (300763) announced the results of its online convertible bond lottery on October 20, with approximately 432,100 winning numbers, each allowing the subscription of 10 bonds (equivalent to 1,000 yuan) for Jinlang Convertible Bond 02 [1]. Group 1: Lottery Results - The total number of winning lottery numbers is about 432,100 [1]. - Each winning number can subscribe to 10 bonds, totaling 1,000 yuan [1]. Group 2: Winning Number Details - Winning numbers ending with "5": 84968, 04968, 24968, 44968, 64968 [2]. - Winning numbers ending with "6": 958613, 458613, 641322 [2]. - Winning numbers ending with "7": 5764243 [2]. - Winning numbers ending with "8": 76049194, 16049194, 36049194, 56049194, 96049194 [2]. - Winning numbers ending with "9": 423916451 [2]. - Winning numbers ending with "10": 5598388987, 4323006165, 1425780614 [2].

Investment Rating - Industry Investment Rating: Overweight [1] Core Views - The price of large storage battery cells continues to rise, indicating strong demand in the energy storage sector. The domestic independent energy storage market is expected to grow due to supportive policies [5][30]. - The domestic offshore wind power sector remains in a high-growth phase, with significant projects such as the 500MW offshore wind project in Hainan officially starting construction [4][21]. - The photovoltaic industry shows stable pricing across the supply chain, with strong overseas demand supporting battery prices [3][14]. Summary by Sections Photovoltaics - The price of silicon wafers and battery cells continues to rise, while module prices remain stable. Strong overseas market demand is a key driver for the price trends [3][14]. - The Qinghai 136 document has initiated bidding for renewable energy projects, with a total mechanism electricity scale of 22.41 billion kWh [14][15]. - GCL-Poly's third-quarter profit reached 960 million yuan, showcasing resilience in a competitive environment [16]. Wind Power - The domestic offshore wind power sector is experiencing high growth, with significant projects like the 500MW offshore wind project in Yangjiang receiving preliminary approval [4][20]. - The Zhejiang offshore wind project has awarded contracts for ±500kV DC submarine and land cables, indicating ongoing investment in infrastructure [20]. Energy Storage - The average price of large storage battery cells has risen to 0.308 yuan/Wh, reflecting strong demand and supply dynamics [25][30]. - In September, the domestic energy storage market saw a significant increase in new installations, with a total of 3.08GW/9.17GWh added, marking a year-on-year growth of 205% in power and 171% in capacity [26]. - The PJM region in the U.S. faces urgent energy storage needs, requiring the deployment of 16-23GW of storage systems over the next 7 to 15 years to meet increasing load demands [27][29]. Hydrogen Energy - The green methanol project is set to receive national subsidies, with companies like Fuan Energy investing in significant production capacity [31][39]. - The hydrogen energy sector is experiencing favorable development trends, with national support for new technologies and financing becoming more accessible [39]. Electric Grid Equipment - NVIDIA's release of the 800V DC white paper highlights the need for high-voltage direct current solutions in data centers, driven by increased power density and load variability [40]. - Investment opportunities in the electric grid sector include companies involved in high-voltage direct current technology and related equipment [41]. Electric Vehicles - The government has launched a three-year plan to double charging facilities, aiming for 28 million nationwide by the end of 2027 [42][45]. - The heavy-duty truck market has seen a nearly 80% year-on-year increase in sales, indicating strong demand and market recovery [45]. Humanoid Robots - A strategic partnership between Zhaofeng and German company Neura has been established, focusing on humanoid robot technology and significant order potential [47][49]. - The humanoid robot sector is entering a phase of small-batch production, with investment opportunities in companies with new technologies and strong order visibility [50].

Flash | 15 Oct 2025 02:07:14 ET │ 13 pages Ginlong Technologies (300763.SZ) 3Q25 Profit Cut Miss; Prefer Sungrow and Deye for Higher Sales Mix from ESS CITI'S TAKE Ginlong reported net profit of +29.4% yoy to Rmb865m in 9M25, including -16.8% yoy and -35.4% qoq to Rmb263m in 3Q25. Its quarterly profit cut was a miss vs. consensus (Bloomberg) forecasting its profit of up 68% yoy to Rmb1,158m in 2025E. We attribute Ginlong's earning miss likely to (i) low revenue growth of +3.4% yoy to Rmb1,869m in 3Q25 with ...

证券代码：300763 证券简称：锦浪科技 公告编号：2025-088 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 网上发行中签率及优先配售结果公告 保荐人（主承销商）：国泰海通证券股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示 锦浪科技股份有限公司（以下简称"锦浪科技"、"发行人"或"公司"） 和国泰海通证券股份有限公司（以下简称"国泰海通"、"保荐人（主承销商）" 或"主承销商"）根据《中华人民共和国证券法》、《上市公司证券发行注册管 理办法》（证监会令〔第 227 号〕）、《证券发行与承销管理办法》（证监会令 〔第 228 号〕）、《深圳证券交易所上市公司自律监管指引第 15 号——可转换公 司债券（2025 年修订）》（深证上〔2025〕223 号）、《深圳证券交易所上市公 司证券发行与承销业务实施细则（2025 年修订）》（深证上〔2025〕268 号）和 《深圳证券交易所创业板上市公司自律监管指南第 1 号——业务办理（2025 年修 订）》（深证上[2025]398 号）等相关规定组织实施本次向不特定对象发行可转 ...

Core Viewpoint - The inverter industry company Jinlang Technology (300763.SZ) reported a mixed performance in its Q3 results, showing revenue growth but a decline in net profit, leading to a drop in stock price, indicating investor concerns about short-term profitability [2][7]. Financial Performance - For the first three quarters of the year, Jinlang Technology achieved a total revenue of 56.63 billion yuan, a year-on-year increase of 9.71%, and a net profit attributable to shareholders of 8.65 billion yuan, up 29.39% [2]. - In Q3 alone, the company reported revenue of 18.69 billion yuan, a 3.43% increase year-on-year, but net profit fell to 2.63 billion yuan, down 16.85% compared to the same period last year [2][7]. - The company’s net profit for the first half of the year was particularly strong, with a 70.96% increase year-on-year, reaching 6.02 billion yuan [4]. Market Dynamics - The growth in Jinlang Technology's performance is attributed to recovering demand in the European market and increasing installations in emerging markets due to supportive policies [5]. - The company has seen significant growth in its energy storage inverter segment, with revenue for this product reaching 7.93 billion yuan in the first half of 2025, a staggering increase of 313.51% [4]. - The overseas market, including regions like Oceania, the Middle East, and Africa, has shown strong performance, contributing to 46.86% of total revenue [4][6]. Industry Trends - The overall inverter industry is experiencing positive growth, with a reported 47.86% increase in net profit among 16 major inverter companies [5]. - The competitive landscape is intensifying, with price and technology battles among leading firms, predominantly Chinese companies, which hold a significant market share [10]. - The company plans to raise up to 1.677 billion yuan through convertible bonds to enhance production capacity and R&D efforts, indicating a commitment to expanding its market presence [10]. Future Outlook - Analysts predict that the domestic inverter market will stabilize, with energy storage demand expected to outpace traditional photovoltaic inverters [9]. - Emerging markets are anticipated to maintain high growth, particularly in the Middle East, Oceania, and Africa, while the European market is expected to gradually recover [9].

Index Performance - The CSI A500 Index decreased by 3.31% this week, closing at 5392.97 points on October 17 [5] - The average daily trading volume for the week was 8521.04 billion yuan, reflecting a 22.20% decrease compared to the previous week [5] Top Performers - The top ten gainers in the CSI A500 index included: 1. Shanghai Pudong Development Bank (600000.SH) with a gain of 12.50% 2. Agricultural Bank of China (601288.SH) with a gain of 11.57% 3. Huatian Technology (002185.SZ) with a gain of 10.02% 4. Shanghai Jahwa United Co., Ltd. (600315.SH) with a gain of 9.42% 5. Hainan Airport (600515.SH) with a gain of 8.96% 6. Shaanxi Coal and Chemical Industry (601225.SH) with a gain of 8.61% 7. Jiangsu Bank (600919.SH) with a gain of 8.60% 8. Tongwei Co., Ltd. (600438.SH) with a gain of 8.31% 9. Air China (601111.SH) with a gain of 7.63% 10. China Pacific Insurance (601319.SH) with a gain of 7.32% [2] Bottom Performers - The top ten losers in the CSI A500 index included: 1. Shengquan Group (605589.SH) with a loss of 18.04% 2. Wentai Technology (600745.SH) with a loss of 17.17% 3. Betta Pharmaceuticals (300558.SZ) with a loss of 16.98% 4. Leo Group (002131.SZ) with a loss of 16.55% 5. Jinlang Technology (300763.SZ) with a loss of 15.40% 6. Tongfu Microelectronics (002156.SZ) with a loss of 14.98% 7. Yake Technology (002409.SZ) with a loss of 14.35% 8. Lens Technology (300433.SZ) with a loss of 14.26% 9. Zhongding Sealing Parts (000887.SZ) with a loss of 13.99% 10. Robot Technology (300757.SZ) with a loss of 13.95% [2] Fund Performance - All 40 CSI A500 ETFs experienced declines, with notable drops in Huatai-PB's CSI A500 Enhanced ETF and Guolian's A500 Enhanced ETF, both falling over 4% [5] - The total scale of the CSI A500 ETFs fell below 200 billion yuan, with Huatai-PB's fund at 249.03 billion yuan, Guotai's at 226.56 billion yuan, and E Fund's at 221.29 billion yuan [5] Market Insights - Pacific Securities research team suggests a balanced allocation towards low-position sectors, particularly banks and insurance with dividend protection attributes, as well as coal and agriculture sectors benefiting from domestic demand recovery [6] - Guohai Securities research team indicates that uncertainties from trade frictions may lead to a rotation in market styles, with a shift from overvalued growth sectors to undervalued sectors [6]

锦浪科技股份有限公司 关于全资项目子公司股权转让涉及可转债募投项目 的进展公告 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。 证券代码：300763 证券简称：锦浪科技 公告编号：2025-087 锦浪科技股份有限公司（以下简称"公司"）于 2025 年 3 月 21 日召开第四 届董事会第五次会议和第四届监事会第五次会议，审议通过了《关于全资项目子 公司股权转让涉及可转债募投项目的议案》。公司全资子公司宁波锦浪智慧能源 有限公司（以下简称"锦浪智慧"）拟将其持有的项目子公司苏州时元思电力新 能源有限公司（以下简称"苏州时元思"）100%股权出让给昆山市焜烨新能源有 限公司（以下简称"昆山焜烨"），股权转让对价为人民币 650.95 万元，涉及的光 伏电站合计装机容量约 4.11MW。 锦浪科技股份有限公司 董事会 2025 年 10 月 17 日 标的公司涉及公司已建成投运的 2022 年向不特定对象发行可转换公司债券 募集资金投资项目中的分布式光伏电站建设项目投资建设主体之一。具体内容详 见公司于 2025 年 3 月 21 日在巨潮资讯网（http: ...

Group 1 - The article highlights the stock price target increases for various companies as of October 16, with notable recommendations from different securities firms [1][2] - Haiguang Information received the highest target price increase of 50.38% with a target price of 350.40 yuan, while Xiaogongmiao City and Jiuzhou Pharmaceutical also received significant recommendations [1] - A total of 20 listed companies were recommended by securities firms on October 16, with Haiguang Information receiving 4 recommendations, Xiaogongmiao City 3, and Jiuzhou Pharmaceutical 2 [1] Group 2 - The article lists the number of securities firms recommending specific companies, with Haiguang Information leading with 4 firms, followed by Xiaogongmiao City with 3 and Jiuzhou Pharmaceutical with 2 [2] - Six companies received initial coverage on October 16, including Baiya Co. with a "Buy" rating from Jianghai Securities and Juhua Co. with an "Increase" rating from Tianfeng Securities [2][3] - The sectors represented among the newly covered companies include personal care products, chemical products, and IT services [3]

Investment Rating - The industry investment rating is "Overweight" [2][45] Core Viewpoints - As of October 16, 2025, the power equipment industry has seen a decline of 2.84% over the past two weeks, underperforming the CSI 300 index by 2.36 percentage points, ranking 26th among 31 industries [4][11] - The cumulative installed capacity of new energy storage in China is expected to reach over 180GW by 2027 and 300GW by 2030, with the industry chain and supply chain output value projected to reach 2-3 trillion yuan by 2030 [34][39] - The global energy storage market is anticipated to maintain strong growth, with a cumulative installed capacity of approximately 730GW/1950GWh by the end of 2030 [34][39] Summary by Sections Market Review - The power equipment sector has increased by 39.62% year-to-date, outperforming the CSI 300 index by 22.25 percentage points, ranking 4th among 31 industries [4][11] - The wind power equipment sector increased by 0.07%, the photovoltaic equipment sector by 1.14%, and the grid equipment sector by 5.76% in the last two weeks [16][17] Valuation and Industry Data - As of October 16, 2025, the price-to-earnings (PE) ratio for the power equipment sector is 34.67 times, with sub-sectors showing varying PE ratios: electric motors at 62.87 times, photovoltaic equipment at 26.89 times, and battery sector at 35.51 times [22][23] Industry News - In the first nine months of 2025, China's new energy storage overseas orders totaled 214.7GWh, a year-on-year increase of 131.75%, with over 30GWh in September alone [34][39] - The National Energy Administration has emphasized the importance of user-side network security management to prevent power outages caused by user-side issues [34][35] Company Announcements - Several companies reported significant changes in net profit for the first three quarters of 2025, with notable increases for companies like Jinko Technology and Tongda Co., while others like Shida Shenghua reported substantial losses [36][37] Weekly Perspective on Power Equipment Sector - The report suggests focusing on leading storage companies benefiting from the booming storage industry, emphasizing technological and scale advantages [39][40]