Group 1 - The storage chip market is experiencing a significant price increase, with SanDisk's recent price hike stimulating storage companies. Morgan Stanley has raised the target price for Jiangbolong from RMB 122 to RMB 325 under the base case scenario, and to RMB 435 under an optimistic scenario [1] - The new policy from the National Development and Reform Commission and the National Energy Administration on November 10 aims to promote renewable energy consumption and regulation, indicating a shift towards a more stable pricing mechanism for energy resources [1] - The evolution of policy from "capacity compensation" to "capacity pricing" suggests a clear direction towards establishing a long-term stable mechanism, ensuring effective transmission of market price signals to end users [1] Group 2 - A series of significant policies this year, particularly the "Document No. 136," has shifted energy storage development from mandatory storage to a more sustainable market-driven model, improving the profitability of storage projects through clear economic compensation mechanisms [2] - The continuous support from policies and institutional innovations indicates a spiral upward trend for renewable energy and storage, with confidence in the commitment from central and local governments to invest in energy storage [2] - As of November 11, 2025, the performance of key stocks in the sector shows positive growth, with Jiangbolong up 7.83%, and other major players like CATL and EVE Energy also experiencing gains [2]

Group 1 - The Chuangye 50 ETF (159682) experienced a mid-session increase of 0.82% with a trading volume exceeding 57 million yuan, driven by gains in component stocks such as Jiangbolong, Sungrow Power Supply, Jinlang Technology, Yiwei Lithium Energy, and CATL [1] - On November 10, the Chuangye 50 ETF recorded a decline but attracted 99.05 million yuan in capital inflow, indicating strong investor interest despite market fluctuations [1] - The ETF tracks the Chuangye 50 Index, which includes sectors such as manufacturing, information transmission, software, and technology services, with key weighted stocks including CATL, Dongfang Wealth, and others [1] Group 2 - Dongwu Securities forecasts a gradual introduction of domestic capacity compensation electricity prices and continuous growth in overseas emerging markets, predicting a 40%-50% increase in global energy storage installations next year and a compound growth rate of 30%-50% over the next three years [2] - The company maintains a positive outlook on large-scale energy storage, integrated storage solutions, and leading energy storage battery manufacturers [2] Group 3 - The National Development and Reform Commission and the National Energy Administration released guidelines to promote the consumption and regulation of new energy, focusing on large-scale development and high-quality consumption, with the aim of building a new power system compatible with high proportions of new energy [1] - Experts emphasize the importance of guiding various types of new energy development and enhancing the adaptability of the new power system, which will be crucial for large state-owned enterprises in the power generation, grid, and equipment manufacturing sectors [1]

Summary of Key Points Core Viewpoint - On November 8, a total of 10 companies announced 11 stock repurchase updates, indicating a significant activity in stock buybacks within the market [1] Group 1: Stock Repurchase Announcements - One company disclosed a stock repurchase plan for the first time, with Jinlang Technology planning to repurchase up to 3.0936 million yuan [1] - One company, Yunji Group, had its stock repurchase plan approved by the shareholders' meeting, with a maximum repurchase amount of 374,100 yuan [1] Group 2: Completed Stock Repurchases - Eight companies have completed their stock repurchase plans, with four companies repurchasing amounts exceeding 10 million yuan [1] - Ruikang Pharmaceutical, Lakala, and Sichuan Meifeng reported the highest completed repurchase amounts, at 101 million yuan, 87.5722 million yuan, and 70 million yuan respectively [1]

Core Viewpoint - Jinlang Technology announced an organizational restructuring to enhance governance and adapt to strategic development needs, focusing on improving ESG management and core competitiveness [2] Group 1: Organizational Changes - The company will transfer the responsibilities of the Supervisory Board to the Audit Committee of the Board [2] - The "Strategic Committee" will be renamed to "Strategic and Sustainable Development Committee," with added responsibilities related to ESG [2] - The restructuring aims to improve professional management levels and work efficiency in line with the company's future development plans [2] Group 2: Impact on Operations - The organizational adjustments are not expected to have a significant impact on the company's production and operational activities [2]

Group 1 - The core point of the article is that Jinlang Technology (SZ 300763) held its 10th board meeting on November 6, 2025, to review various documents, including the revision of the "Board Secretary Work Rules" [1] - Jinlang Technology's revenue composition for the first half of 2025 is entirely from the photovoltaic industry, accounting for 100.0% [2] - As of the report, Jinlang Technology has a market capitalization of 34.1 billion yuan [3]

Core Viewpoint - The company has approved a plan to utilize idle raised funds for cash management, indicating a strategic approach to optimize financial resources while ensuring project progress remains unaffected [1] Group 1: Company Actions - The company and its wholly-owned subsidiary plan to use up to RMB 1 billion (approximately USD 140 million) of temporarily idle raised funds for cash management [1] - The cash management will involve purchasing high-security, high-liquidity structured deposits and other cash management products that meet capital preservation requirements [1] - The approved fund usage is valid for 12 months from the date of the board's approval, allowing for rolling use within the specified limit [1] Group 2: Impact on Operations - The company asserts that this cash management initiative will not impact the progress of the investment projects funded by the raised capital or the normal production and operation of the company [1]

| 证券代码：300763 | 证券简称：锦浪科技 | 公告编号：2025-097 | | --- | --- | --- | | 转债代码：123259 | 转债简称：锦浪转 | 02 | 关于作废 2022 年限制性股票激励计划部分已授予但尚未归属的 限制性股票与回购注销 2023 年限制性股票激励计划部分已授予 但尚未解除限售的限制性股票的公告 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。 锦浪科技股份有限公司（以下简称"公司"）于 2025 年 11 月 6 日召开第四届 董事会第十次会议及第四届监事会第十次会议，审议通过《关于作废 2022 年限 制性股票激励计划部分已授予但尚未归属的限制性股票的议案》《关于回购注销 2023 年限制性股票激励计划部分已授予但尚未解除限售的限制性股票的议案》。 根据公司 2022 年第四次临时股东大会的授权，作废 2022 年限制性股票激励计划 部分已授予但尚未归属的限制性股票事项无需提交股东大会审议。回购注销 2023 年限制性股票激励计划部分已授予但尚未解除限售的限制性股票事项尚需 提交股东大会审议。现将具体 ...

国泰海通证券股份有限公司关于锦浪科技股份有限公司使 用闲置募集资金进行现金管理的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为锦 浪科技股份有限公司（以下简称"锦浪科技"、"公司"或"发行人"）2022 年度 向特定对象发行股票和 2025 年度向不特定对象发行可转换公司证券的持续督导 机构，根据《证券发行上市保荐业务管理办法》《上市公司募集资金监管规则》 《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指 引第 13 号——保荐业务》《深圳证券交易所上市公司自律监管指引第 2 号——创 业板上市公司规范运作》等有关规定，就公司使用暂时闲置募集资金进行现金管 理的事项进行了审慎核查，并发表如下核查意见： 一、募集资金基本情况 根据中国证券监督管理委员会《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），公司向不特 定对象发行可转换公司债券 16,765,838 张，每张面值为人民币 100.00 元，按面 值发行，发行总额为人民币 1,676,583,800.00 元。公司本次发行的募集资金总额 为 1 ...

国泰海通证券股份有限公司关于锦浪科技股份有限公司使 用部分闲置募集资金暂时补充流动资金的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）作为锦 浪科技股份有限公司（以下简称"锦浪科技"、"公司"或"发行人"）2022 年度 向特定对象发行股票和 2025 年度向不特定对象发行可转换公司证券的持续督导 机构，根据《证券发行上市保荐业务管理办法》《上市公司募集资金监管规则》 《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指 引第 13 号——保荐业务》《深圳证券交易所上市公司自律监管指引第 2 号——创 业板上市公司规范运作》等有关规定，对公司使用部分闲置募集资金暂时补充流 动资金的事项进行了核查，具体情况如下： 一、募集资金基本情况 根据中国证券监督管理委员会《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），公司向不特 定对象发行可转换公司债券 16,765,838 张，每张面值为人民币 100.00 元，按面 值发行，发行总额为人民币 1,676,583,800.00 元。公司本次发行的募集资金总额 为 ...

北京德恒（杭州）律师事务所 关于 锦浪科技股份有限公司 2023 年限制性股票激励计 划部分限制性股票回购注销相关事项的 法律意见 杭州市上城区新业路 200 号华峰国际商务大厦 10-11 楼 邮编：310016 电话：(+86)0571-86508080 传真：(+86)0571-8735775 北京德恒（杭州）律师事务所 关于锦浪科技股份有限公司 2023 年限制性股票激励 计划部分限制性股票回购注销相关事项的法律意见 北京德恒（杭州）律师事务所 关于 锦浪科技股份有限公司 2023 年限制性股票激励计划 部分限制性股票回购注销相关事项的 法律意见 德恒 12F20230276-7 号 致：锦浪科技股份有限公司 北京德恒（杭州）律师事务所（以下简称本所）根据与锦浪科技股份有限公 司（以下简称锦浪科技或公司）签订的《专项法律服务委托协议》，接受锦浪科 技委托担任其 2023 年限制性股票激励计划（以下简称本激励计划）的专项法律 顾问。 本所根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民 共和国证券法》（以下简称《证券法》）、中国证券监督管理委员会（以下简称 中国证监会）发布的《上市公司股权 ...