锦浪科技股份有限公司 董事会薪酬与考核委员会关于作废 2022 年限制性股 票激励计划部分限制性股票与回购注销 2023 年限制 性股票激励计划部分限制性股票的核查意见 锦浪科技股份有限公司 董事会薪酬与考核委员会 2025 年 11 月 3 日 （一）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 性股票的核查意见 根据《上市公司股权激励管理办法》及《2022 年限制性股票激励计划（草 案）》的相关规定，鉴于公司本次激励计划中有 8 名激励对象因个人原因离职， 该部分激励对象已不具备激励资格。公司拟作废上述对象已授予但尚未归属的第 二类限制性股票 5.60 万股。 薪酬与考核委员会对该事项所涉及的激励对象及其对应已获授但尚未归属 的限制性股票数量进行了核查，该事项在公司 2022 年第四次临时股东大会对公 司董事会的授权范围内，其审议的程序合法、合规，不存在损害公司及全体股东 特别是中小股东利益的情形。薪酬与考核委员会同意公司作废 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合计 5.60 万股。 （二）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 ...

Core Viewpoint - The photovoltaic equipment sector experienced a rise of 1.06% on November 6, with DeYe Co., Ltd. leading the gains, while the overall market indices also showed positive performance [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4007.76, up 0.97%, and the Shenzhen Component Index closed at 13452.42, up 1.73% [1]. - The photovoltaic equipment sector's individual stocks showed varied performance, with DeYe Co., Ltd. increasing by 6.86% to a closing price of 86.25 [1]. Group 2: Stock Performance - Key stocks in the photovoltaic equipment sector included: - DeYe Co., Ltd. (605117): Closed at 86.25, up 6.86% with a trading volume of 394,200 shares [1]. - Dongfang Risheng (300118): Closed at 12.67, up 5.06% with a trading volume of 1,877,000 shares [1]. - Lianshan Xinke (003022): Closed at 20.27, up 4.00% with a trading volume of 154,600 shares [1]. - Other notable stocks included Hongdian Dongci (002056), Weidao Nano (688147), and Yangguang Electric (300274), all showing positive gains [1]. Group 3: Capital Flow - The photovoltaic equipment sector saw a net outflow of 63.35 million yuan from institutional investors, while retail investors contributed a net inflow of 228 million yuan [2]. - The capital flow for key stocks indicated that: - Yangguang Electric (300274) had a net outflow of 4.32 billion yuan from institutional investors [3]. - Tongwei Co., Ltd. (600438) experienced a net inflow of 209 million yuan from institutional investors [3]. - Other stocks like Dongfang Risheng (300118) and Lianshan Xinke (003022) also showed mixed capital flows [3].

Core Viewpoint - Jinko Technology's stock price has shown significant fluctuations, with a year-to-date increase of 39.44% and a recent 6.10% rise over the last five trading days, indicating strong market interest and potential growth in the renewable energy sector [1][2]. Company Overview - Jinko Technology, established on September 9, 2005, and listed on March 19, 2019, specializes in the research, production, sales, and service of string inverters, with its main products including grid-connected inverters (47.97% of revenue), household photovoltaic systems (21.28%), energy storage inverters (20.91%), and other renewable energy products [1][2]. Financial Performance - For the period from January to September 2025, Jinko Technology reported a revenue of 5.663 billion yuan, reflecting a year-on-year growth of 9.71%, and a net profit attributable to shareholders of 865 million yuan, which is a 29.39% increase compared to the previous year [2][3]. Shareholder Information - As of October 31, 2025, Jinko Technology had 78,800 shareholders, an increase of 2.56% from the previous period, with an average of 4,080 circulating shares per shareholder, down by 2.49% [2][3]. Dividend Distribution - Since its A-share listing, Jinko Technology has distributed a total of 660 million yuan in dividends, with 318 million yuan distributed over the last three years [3]. Institutional Holdings - As of September 30, 2025, notable institutional shareholders include Hong Kong Central Clearing Limited and E Fund's ChiNext ETF, with both experiencing a reduction in shares held, while new entrants include the Photovoltaic ETF and Tianhong CSI Photovoltaic A [3].

Group 1 - The core point of the news is the listing of Jinlang Technology's convertible bond, Jinlang Zhuang 02, which has a scale of 1.677 billion yuan and a high rating of AA [1] - The current stock price of Jinlang Technology is 83.21 yuan, with a conversion price of 89.82 yuan and a conversion value of 92.64 yuan, indicating an increase in conversion value since the issuance [1] - The bond is expected to yield a high return for investors, with a projected profit of 300 yuan for those who successfully subscribe, benefiting from the recent surge in the energy storage sector [1] Group 2 - Jinlang Technology's total market capitalization is 33.13 billion yuan, with a dynamic price-to-earnings ratio of 28.71 times and a price-to-book ratio of 3.64 times [3] - The stock has shown a pattern of low opening and high closing, reflecting the influence of the broader market trends [5] - The current market is not considered overvalued, as it is still in a recovery phase after a prolonged adjustment period, suggesting potential for further growth [6][8]

Summary of Conference Call on Photovoltaic Industry's Anti-Competition Measures Industry Overview - The conference focused on the photovoltaic (PV) industry, particularly discussing the recent anti-competition measures and market dynamics within the sector [1][2]. Key Points and Arguments 1. **Market Recovery and Policy Support**: The market has shown a positive recovery, driven by recent policy announcements aimed at eliminating barriers to a unified national market and addressing excessive competition [1][2]. 2. **Formation of Industry Alliances**: 17 leading companies in the silicon material sector are forming a coalition to stabilize prices and reduce production capacity, with expectations to complete this by the end of the year [2][3]. 3. **Price Recovery Indicators**: The third quarter has shown signs of improvement in the PV supply chain, particularly due to the recovery in prices of silicon materials, which is expected to continue as production cuts are anticipated in November [3][4]. 4. **Impact of Policy Changes**: The introduction of stricter regulations against below-cost pricing has led to a significant increase in silicon prices, from around 30,000 to over 50,000 [6][15]. 5. **Performance of Key Companies**: Major companies like Xiexin and Tongwei reported significant improvements in their financial performance in Q3, indicating a recovery in the industry [8][18]. 6. **Investment Recommendations**: Analysts recommend focusing on companies with strong cyclical attributes in the silicon material and PV glass sectors, including Tongwei, Daqo, and Xiexin [9][23]. 7. **Technological Advancements**: The industry continues to see technological progress, which is expected to create a competitive edge for companies that can innovate and maintain high margins [9][20]. 8. **Long-term Market Dynamics**: The anticipated supply-side reforms in the silicon sector are expected to lead to a more balanced supply-demand situation, which will benefit downstream companies and prevent a return to cutthroat competition [19][21]. Additional Important Insights - **Regulatory Environment**: The government's commitment to creating a unified market and addressing local protectionism is crucial for the long-term health of the PV industry [7][22]. - **Market Sentiment**: The recent media coverage and government announcements have sparked renewed investor interest and optimism regarding the anti-competition measures [2][4]. - **Financial Health of the Sector**: Many companies are showing signs of financial recovery, with improved profit margins and reduced losses compared to previous quarters [8][22]. This summary encapsulates the key discussions and insights from the conference call regarding the photovoltaic industry's current state and future outlook, emphasizing the importance of policy support and industry collaboration in fostering a healthier market environment.

Core Viewpoint - The photovoltaic industry is experiencing a significant performance restructuring, with major companies in key sectors such as equipment, inverters, junction boxes, and mounting brackets facing declining profits and some even reporting losses, indicating a shift in the industry's profitability logic [1] Equipment Sector - Equipment suppliers are seeing the most pronounced decline, with several leading companies reporting both revenue and net profit decreases in Q3 [2] - Jiejia Weichuang (捷佳伟创) reported Q3 revenue of 4.734 billion yuan, a decrease of 17.26% year-on-year, and net profit of 858 million yuan, a sharp decline from previous growth rates [2] - Jing Sheng Machinery (晶盛机电) experienced a dramatic drop in Q3 revenue to 2.474 billion yuan, down 42.87%, and net profit of 262 million yuan, down 69.65% [2] - Maiwei Co., Ltd. (迈为股份) reported Q3 revenue of 1.991 billion yuan, a decline of 31.3%, and net profit of 269 million yuan, down 9.42% [4][5] - Aotewei (奥特维) saw its Q3 revenue drop to 1.292 billion yuan, down 48.65%, with net profit plummeting 90.04% to 50 million yuan [6] Inverter Sector - The inverter industry is experiencing a bifurcated performance, with some companies like Sungrow (阳光电源) and GoodWe (固德威) reporting significant profit increases, while others face profit declines [7] - Sungrow achieved a net profit of 4.147 billion yuan in Q3, up 57.04% year-on-year, while GoodWe's net profit surged by 200.83% [7] - Conversely, companies like Jinlang Technology (锦浪科技) and Deye (德业股份) reported net profit declines of 16.85% and 17.84%, respectively [7] Junction Box Sector - The junction box sector has also seen significant profit declines, with Zairun New Energy (泽润新能) reporting a net loss of approximately 3.856 million yuan in Q3, a 115.93% year-on-year drop [8] - Kuai Ke Electronics (快可电子) reported Q3 revenue of 328 million yuan, up 66.1%, but net profit decreased by 64.47% [8] Mounting Bracket Sector - The mounting bracket sector is facing similar challenges, with Qingyuan Co. (清源股份) reporting Q3 revenue of 470 million yuan, a 5.47% increase, but net profit down 73.94% [8] - Leading company Zhongxinbo (中信博) reported a net profit decline of 74.49% year-on-year, with Q3 losses reaching 48.39 million yuan, a 119.76% drop [9][10] Overall Industry Outlook - The overall profitability of the photovoltaic equipment, inverter, junction box, and mounting bracket sectors is declining, with industry experts indicating that the stability of returns from photovoltaic power stations is not as strong as before, complicating investment decisions [10]

Core Viewpoint - Jinlang Technology's stock rose by 5% on October 31, reaching 84.00 CNY per share, with a trading volume of 1.033 billion CNY and a turnover rate of 3.88%, resulting in a total market capitalization of 33.442 billion CNY [1] Company Overview - Jinlang Technology Co., Ltd. is located in Xiangshan Economic Development Zone, Zhejiang Province, and was established on September 9, 2005. The company went public on March 19, 2019. Its main business involves the research, production, sales, and service of string inverters, with the primary product being string inverters [1] - The revenue composition of Jinlang Technology includes: 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] Fund Holdings - According to data from the top ten heavy stocks of funds, Guodu Securities has one fund heavily invested in Jinlang Technology. Guodu Innovation Drive (002020) held 3,000 shares in the third quarter, accounting for 2.57% of the fund's net value, ranking as the fifth-largest heavy stock. The estimated floating profit today is approximately 12,000 CNY [2] - Guodu Innovation Drive (002020) was established on December 28, 2015, with a latest scale of 10.7923 million CNY. Year-to-date returns are 30.9%, ranking 3055 out of 8154 in its category; the one-year return is 10.56%, ranking 5766 out of 8046; and since inception, it has incurred a loss of 21.61% [2] Fund Manager Performance - The fund managers of Guodu Innovation Drive (002020) are Liao Xiaodong, Zhang Xiaolei, and Wang Yi. As of the report, Liao Xiaodong has a tenure of 5 years and 171 days, with a total fund asset size of 22.455 million CNY, achieving a best return of -24.14% and a worst return of -64.72% during his tenure [3] - Zhang Xiaolei has a tenure of 6 years and 321 days, with the same total fund asset size of 22.455 million CNY, achieving a best return of 80.09% and a worst return of -23.54% during his tenure [3] - Wang Yi has a tenure of 4 years and 139 days, with a total fund asset size of 10.7885 million CNY, achieving a best return of 35.82% and a worst return of -31.14% during his tenure [3]

证券代码：300763 证券简称：锦浪科技 公告编号：2025-092 锦浪科技股份有限公司 Ginlong Technologies Co., Ltd. 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》"）等有关法律、法规的规定，本公司 董事、高级管理人员已依法履行诚信和勤勉尽责的义务和责任。 中国证券监督管理委员会（以下简称"中国证监会"）、深圳证券交易所（以 下简称"深交所"）、其他政府机关对本公司可转换公司债券上市及有关事项的 意见，均不表明对本公司的任何保证。 （浙江省象山县经济开发区滨海工业园金通路 57 号） 2025 年度向不特定对象发行可转换公司债券 上市公告书 保荐机构（主承销商） （中国（上海）自由贸易试验区商城路 618 号） 二〇二五年十月 第一节 重要声明与提示 锦浪科技股份有限公司 上市公告书 锦浪科技股份有限公司（以下简称"锦浪科技"、"发行人"、"公司"或 "本公司"）全体董事、监事和高级管理人员保证上市公告书的真实性、准确性、 完整性，承诺上市公告书不存在虚假记载、误导性陈述或重大遗漏，并承担个别 和连带的法律责任。 ...

国浩律师（北京）事务所 关于 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 在深圳证券交易所上市 之 法律意见书 北京 上海 深圳 杭州 广州 昆明 天津 成都 宁波 福州 西安 南京 南宁 济南 重庆 苏州 长沙 太原 武汉 贵阳 乌鲁木齐 郑州 石家庄 合肥 海南 青岛 南昌 大连 银川 拉孜 香港 巴黎 马德里 斯德哥尔摩 纽约 马来西亚 柬埔寨 BEIJING SHANGHAI SHENZHEN HANGZHOU GUANGZHOU KUNMING TIANJIN CHENGDU NINGBO FUZHOU XI'AN NANJING NANNING JINAN CHONGQING SUZHOU CHANGSHA TAIYUAN WUHAN GUIYANG URUMQI ZHENGZHOU SHIJIAZHUANG HEFEI HAINAN QINGDAO NANCHANG DALIAN YINCHUAN LHATSE HONG KONG PARIS MADRID STOCKHOLM NEW YORK MALAYSIA CAMBODIA 地址：北京市朝阳区东三环北路 38 号泰 ...

国泰海通证券股份有限公司 关于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 （中国（上海）自由贸易试验区商城路 618 号） 二〇二五年十月 锦浪科技股份有限公司 上市保荐书 声 明 本保荐机构及其保荐代表人已根据《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》）等法律法规和中国证 券监督管理委员会（以下简称"中国证监会"）及深圳证券交易所的有关规定， 诚实守信，勤勉尽责，严格按照依法制定的业务规则和行业自律规范出具上市保 荐书，并保证所出具文件真实、准确、完整。 如无特殊说明，本上市保荐书中的简称或名词释义与《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》一致。 之 上市保荐书 保荐机构（主承销商） | 中文名称 | 锦浪科技股份有限公司 | | --- | --- | | 英文名称 | Ginlong Technologies Co., Ltd. | | 注册资本 | 39,811.3845 万元 | | 法定代表人 | 王一鸣 | | 股票简称 | 锦浪科技 | | 股票代码 | 300763 | | ...