[Table_StockName电Rpt力Typ设e] 备 行业周报 人形机器人惊艳亮相春晚，储能电芯集采涨价 行业评级： 增持 分析师：张志邦 执业证书号：S0010523120004 电话：15652947918 邮箱：zhangzhibang@hazq.com 执业证书号：S0010524050002 邮箱：liuqianlin@hazq.com 分析师：郑洋 执业证书号：S0010524110003 邮箱：zhengyang@hazq.com 执业证书号：S0010125040047 邮箱：caijinyang@hazq.com 求支撑明显 2026-01-22 2.北美缺电逻辑演绎，储能成为核心 解法 2026-01-22 东大储需求高增 2026-01-17 主要观点： 报告日期： 2026-02-27 储能：储能电芯集采价格上涨，阳光电源欧洲工厂落地 公司价格与沪深 300 走势比较 容量电价政策落地，储能后续需求支撑明显。碳酸锂价格上涨对储能 IRR 影 响较小。全球大储招标数据持续火热，国内储能反内卷推动储能高质量发展， 美国数据中心用电激增带动大储需求，欧洲户储需求温和复苏，大储成为主 要 ...

证券研究报告 | 行业周报 gszqdatemark 2026 03 01 年 月 日 电力设备 储能：2026 年 1 月国内储能 EPC 中标规模 4.92GW/12.42GWh。2026 年 1 月国内储能 EPC 中标项目共 25 个，总装机规模达 4916.5MW/12420.28MWh，项目单体平均规模为 196.7MW/496.8MWh，较 2025 年同期提升超 30%。2025 年国内新型储能新增装机 59GW/175GWh，2h 储能系统价格 0.55 元/wh，预计 2026 年碳酸锂价格上涨推动储能均价 上行。建议关注方向：建议关注国内外增速确定性高的大储方向，关注阳光电源、阿特斯、 海博思创、上能电气、科华数据、三晖电气、东方日升。 新能源车：2 月 27 日，鑫椤锂电公布 3 月锂电预排产数据。其中，国内电池样本企业 3 月 排产 149.59GWh，环比+21.93%；海外电池样本企业 22.4GWh，环比+11.27%；正极为 19.47 万吨，环比+23.3%；负极为 16.3 万吨，环比+16.42%；隔膜为 18.95 亿平，环比 +8.7%；电解液为 10.75 万吨， ...

证券代码：300772 证券简称：运达股份 公告编号：2026-008 运达能源科技集团股份有限公司 关于召开 2026 年第一次临时股东会的提示性公告 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。 2.股东会的召集人：董事会 3.本次会议的召集、召开符合《中华人民共和国公司法》《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 2 号—创业板上市公司规范运作》 等法律、行政法规、部门规章、规范性文件及《公司章程》的有关规定。 4.会议时间： （1）现场会议时间：2026 年 3 月 2 日 13:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2026 年 3 月 2 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票 的具体时间为 2026 年 3 月 2 日 9:15 至 15:00 的任意时间。 5.会议的召开方式：现场表决与网络投票相结合。 6.会议的股权登记日：2026 年 2 月 24 日 7.出席对象： 经运达能源科技集团股份有限公司（ ...

2月26日，运达股份涨5.39%，截至发稿，报19.93元/股，成交1.85亿元，换手率1.36%，总市值156.82亿 元。 资料显示，运达能源科技集团股份有限公司位于浙江省杭州市西湖国际科技大厦A座18F，成立日期 2001年11月30日，上市日期2019年4月26日，公司主营业务涉及大型风力发电机组的研发、生产和销 售。主营业务收入构成为：风电机组87.54%，新能源EPC总承包6.36%，其他4.04%，发电收入2.06%。 南方中证1000ETF（512100）成立日期2016年9月29日，最新规模789.96亿。今年以来收益10.92%，同 类排名1308/5572；近一年收益32.69%，同类排名1845/4311；成立以来收益26.85%。 南方中证1000ETF（512100）基金经理为崔蕾。 截至发稿，崔蕾累计任职时间7年113天，现任基金资产总规模1370.2亿元，任职期间最佳基金回报 250.66%， 任职期间最差基金回报-15.93%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请 ...

近日，四川省发展和改革委员会发布《关于巴中通江洪口风电项目核准的批复》。根据批复，巴中通江洪口风电项目建设地点位于巴中市通江县洪口镇、 龙凤场镇和松溪乡境内。项目总装机容量20万千瓦，安装32台0.625万千瓦风力发电机组，同步新建1座220千伏升压站及场内集电线路，平均年发电量 38500万千瓦时，等效满负荷年利用小时数1925小时。 近日，四川省发展和改革委员会发布《关于巴中通江洪口风电项目核准的批复》。根据批复，巴中通江洪口风电项目建设地点位于巴中市通江县洪口镇、 龙凤场镇和松溪乡境内。项目总装机容量20万千瓦，安装32台0.625万千瓦风力发电机组，同步新建1座220千伏升压站及场内集电线路，平均年发电量 38500万千瓦时，等效满负荷年利用小时数1925小时。 项目总投资99529万元，建设工期18个月。项目单位为通江县久恒风力发电有限公司，该公司为运达股份旗下子公司。 项目总投资99529万元，建设工期18个月。项目单位为通江县久恒风力发电有限公司，该公司为运达股份旗下子公司。 ...

Core Viewpoint - The domestic wind power market in China continues to thrive in 2025, with significant growth in installed capacity and a clear differentiation between onshore and offshore wind development [3][4]. Group 1: Installed Capacity Growth - In 2025, China added 18,272 wind turbines, resulting in a new installed capacity of 130 million kilowatts, marking a historical high with a year-on-year growth of 49.9%, significantly surpassing the 9.6% growth in 2024 [3]. - Onshore wind power remains the dominant force, contributing 125 million kilowatts, which accounts for 95.8% of the total new installations, an increase of 2.3 percentage points from 2024 [3]. - Offshore wind power saw a decline in new installations, with a capacity of 5.56 million kilowatts, down 2.3% year-on-year, representing only 4.2% of the total new capacity [3]. Group 2: Technological Advancements - The average capacity of newly installed wind turbines in 2025 reached 7,160 kilowatts, reflecting an 18.3% increase year-on-year, driven by cost control and efficiency improvements post-grid parity [4]. - Onshore wind turbines had an average capacity of 7,069 kilowatts, up 20.1%, while offshore turbines saw a slight increase to 10,054 kilowatts, entering the mature stage of 10 MW+ models [5]. Group 3: Market Concentration - The number of wind turbine manufacturers with new installations decreased from 13 to 10, with the top seven companies accounting for 91.8% of the market share, indicating a strengthening of oligopoly effects in the industry [5]. - Goldwind Technology led the market with 25.9 million kilowatts, representing 19.8% of the total, followed by other major players like Envision Energy and Mingyang Smart Energy, forming a stable first tier with a combined share of 73.4% [5]. Group 4: Export Growth - In 2025, China exported 1,175 wind turbines with a total capacity of 7.734 million kilowatts, achieving a year-on-year growth of 48.9%, setting a new historical record [6]. - By the end of 2025, the cumulative export capacity reached 28.522 million kilowatts, with significant markets in developing countries such as Vietnam and Saudi Arabia [6]. - The export market is also dominated by leading companies, with Goldwind Technology accounting for 386.2 million kilowatts, representing nearly half of the total exports [6]. Group 5: Global Market Opportunities - The global wind power market is expected to see profound changes, with a forecast of 1.06 billion kilowatts of new installations by 2030, while many regions lack the local industry capabilities to meet this demand [7]. - Chinese wind power manufacturers are becoming key suppliers in emerging markets due to their competitive advantages in cost, delivery speed, and engineering capabilities [7]. - The strategy of Chinese wind power companies is shifting from mere product exports to establishing localized production and service bases in over 20 countries, including India and Germany [7][8].

Group 1 - The domestic wind power market in China is expected to maintain high prosperity in 2025, with a record new installed capacity of 130 million kilowatts, a year-on-year increase of 49.9% [1] - Onshore wind power remains the absolute mainstay of growth, accounting for 95.8% of new installations, while offshore wind power saw a decline in new capacity by 2.3% [1] - The increase in installed capacity is driven by developers pushing onshore projects ahead of policy adjustments, aiming for over 50% renewable energy in their generation assets by the end of 2025 [1] Group 2 - The average capacity of newly installed wind turbines in China reached 7160 kilowatts, an 18.3% year-on-year increase, reflecting a trend towards larger turbine sizes [2] - The number of wind turbine manufacturers with new installations decreased from 13 to 10, with the top seven companies accounting for 91.8% of the market share [2] - Goldwind Technology leads the market with 25.9 million kilowatts, representing 19.8% of the total, followed by other major players [2] Group 3 - The export of Chinese wind turbines reached a historical high with 1175 units and a capacity of 773.4 million kilowatts, a 48.9% increase year-on-year [3] - Major markets for exports include developing countries, with Goldwind Technology dominating the export market [3] - The global wind power market is undergoing significant changes, providing opportunities for Chinese companies to become key suppliers in emerging markets due to their competitive advantages [4] Group 4 - Chinese wind power companies are transitioning from product exports to localized production and service layouts in over 20 countries [4] - The industry is moving towards a "deep cultivation" phase, establishing localized operations rather than merely responding to orders [5] - The focus is on integrating global resources and adapting to local environments to serve the global market effectively [5]

Group 1 - The core viewpoint of the articles highlights the significant growth and transformation of China's wind power industry, particularly in its overseas expansion and local production capabilities [1][5] - In 2025, China's domestic wind power market is expected to maintain high prosperity, with a record installation of 1.3 million kilowatts, a year-on-year increase of 49.9%, significantly surpassing the 9.6% growth rate of 2024 [1] - The onshore wind power sector remains the dominant force in domestic growth, accounting for 95.8% of new installations, while offshore wind power faces challenges, with a 2.3% decline in new capacity [1] Group 2 - The trend towards larger wind turbine capacities is evident, with an average new installation capacity of 7160 kilowatts in 2025, reflecting an 18.3% year-on-year increase [2] - The concentration of the wind turbine manufacturing industry is increasing, with the number of companies with new installations decreasing from 13 to 10, and the top seven companies capturing 91.8% of the market share [2] - Leading companies such as Goldwind Technology, with 2590 megawatts and a 19.8% market share, dominate the sector, while smaller brands are rapidly exiting the market [2] Group 3 - The overseas market is becoming a crucial growth area for Chinese wind power companies, with a record export of 773.4 megawatts in 2025, a 48.9% increase year-on-year [3] - The export market is also led by major companies, with Goldwind Technology accounting for nearly 54% of offshore wind turbine exports [3] - The global wind energy market is undergoing significant structural changes, presenting opportunities for Chinese companies to leverage their competitive advantages in cost, delivery speed, and engineering capabilities [4] Group 4 - Chinese wind power companies are shifting from simple product exports to localized production and service layouts in over 20 countries, including India and Germany [5] - The industry is moving towards a "deep cultivation" phase, focusing on integrating global resources and adapting to local environments amid geopolitical uncertainties [5]

Group 1 - Hangzhou Saturn Power Technology Co., Ltd. has successfully exported a batch of cruising motorcycles and all-terrain vehicles to countries along the Belt and Road Initiative, including Austria and Malaysia [2] - The company, recognized as a national-level specialized and innovative "little giant," focuses on the research and manufacturing of large-displacement motorcycles and all-terrain vehicles, gradually establishing a foothold in the international market [2] - Due to customer customization demands, the company has shifted its import-export business model from general trade to processing trade, effectively reducing operational costs and allowing more resources to be allocated to research and production [2] - By 2025, the company's export volume to Belt and Road countries is expected to reach 390 million yuan, with a year-on-year increase of over 100% [2] Group 2 - Yunda Energy Technology Group Co., Ltd., a national-level "green factory" and high-tech enterprise, has successfully implemented its products in over 600 wind farms globally [2] - The company has capitalized on the low-carbon development trend and seized opportunities in emerging markets along the Belt and Road Initiative [2] - By 2025, the company is projected to export wind power products worth 1.48 billion yuan to Belt and Road countries, representing a year-on-year increase of over 10 times [3] Group 3 - The Qianjiang Customs has implemented a targeted support mechanism to address the challenges faced by companies in exporting large equipment, such as transportation and maintenance difficulties [3] - The customs has provided detailed explanations of national customs integration and transportation policies, optimizing logistics paths to significantly reduce transportation time and costs [3] - By 2025, the total import and export volume of Hangzhou City to Belt and Road countries is expected to reach 467.48 billion yuan, with a year-on-year growth of 10.5% [3]

2026年2月10日，运达股份在世界未来能源峰会（阿布扎比）亮相，展示了针对中东高温、强沙尘环境 定制的WD200-7700IW风电机组及智慧储能解决方案（如VoltPack集装箱和VoltBlock户外柜）。该机型 已应用于沙特延布等项目，并获多国能源部门关注。此次参展提升了公司在中东市场的品牌影响力，为 海外合作拓展奠定基础，可能对长期业务形成正面支撑。 经济观察网 近7天（2026年2月6日至2月12日），运达股份（300772）股价呈现波动上涨态势。区间累 计涨幅为5.33%，最高价达19.65元（2月11日），最低价为17.73元（2月6日）。具体来看，2月6日股价 上涨3.28%至18.59元，成交额3.59亿元；2月9日微涨0.65%至18.71元；2月10日上涨0.80%至18.86元；2 月11日继续上涨2.07%至19.25元，成交额1.92亿元；2月12日回调1.51%，收盘报18.96元。资金流向方 面，2月12日主力资金净流出910.04万元，但近5日整体表现强于大盘（上证指数涨1.46%）和行业（风 电设备板块跌0.36%）。 机构观点 近期事件 机构最新观点显示，运达股份综合目标 ...