证券代码：300827 证券简称：上能电气 公告编号：2026-002 上能电气股份有限公司 关于向特定对象发行股票上市公告书披露的提示性公告 《上能电气股份有限公司向特定对象发行股票新增股份变动报告及上市公 告书》及相关文件已于同日在中国证券监督管理委员会指定的创业板信息披露网 站巨潮资讯网（www.cninfo.com.cn）上披露，敬请投资者注意查阅。 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。 特此公告。 2026 年 1 月 15 日 上能电气股份有限公司董事会 ...

证券代码：300827 证券简称：上能电气 上能电气股份有限公司 （SINENG ELECTRIC CO., LTD.） （无锡市惠山区和惠路 6 号） 向特定对象发行股票 新增股份变动报告及上市公告书 保荐人（联席主承销商） 联席主承销商 二〇二六年一月 上能电气股份有限公司 新增股份变动报告及上市公告书 发行人全体董事、高级管理人员声明 本公司全体董事、高级管理人员承诺本上市公告书不存在虚假记载、误导性 陈述或重大遗漏，并对其真实性、准确性、完整性承担相应的法律责任。 董事： 吴 强 段育鹤 李建飞 吴 超 陈运萍 胡光旺 纪志成 熊源泉 权小锋 董事会审计委员会 成员： 权小锋 熊源泉 吴 超 杨春明 李建飞 陈运萍 上能电气股份有限公司 1 高级管理人员： 年 月 日 上能电气股份有限公司 新增股份变动报告及上市公告书 特别提示 一、发行股票数量及价格 1、发行数量：52,336,507 股 2、发行价格：31.50 元/股 3、募集资金总额：人民币 1,648,599,970.50 元 4、募集资金净额：人民币 1,637,671,857.30 元 二、新增股票上市安排 1、股票上市数量：52,33 ...

证券代码：300827 证券简称：上能电气 公告编号：2026-004 上能电气股份有限公司 | | | 本次发行前 | | | 本次发行后 | | | --- | --- | --- | --- | --- | --- | --- | | | | | 占剔除 | | | | | | | | 回购专 | | | 占剔除回 | | | | 占总股 | 用证券 | | 占总股 | 购专用证 | | 姓名 | 职务 | 持股数量 本比例 | 账户后 | 持股数量 | 本比例 | 券账户后 | | | | （股） | | （股） | | | | | | （%） | 总股本 | | （%） | 总股本的 | | | | | 的比例 | | | 比例（%） | | | | | （%） | | | | | 吴强 | 董事长 | 101,469,066 | 20.12 | 20.23 | 103,056,367 | 18.51 | 18.60 | | --- | --- | --- | --- | --- | --- | --- | --- | | 段育鹤 | 副董事长 | 44,630,643 | 8.85 | 8.90 ...

Group 1 - The core viewpoint of the news is that Shangneng Electric's stock has experienced fluctuations, with a recent decline of 2.02% and a total market value of 20.088 billion yuan [1] - As of January 15, the stock price of Shangneng Electric is 39.83 yuan per share, with a trading volume of 710 million yuan and a turnover rate of 4.58% [1] - The company has seen a year-to-date stock price increase of 16.39%, with a 32.86% increase over the past 60 days [1] Group 2 - Shangneng Electric reported a revenue of 3.565 billion yuan for the period from January to September 2025, representing a year-on-year growth of 16.15% [2] - The net profit attributable to shareholders for the same period was 311 million yuan, showing a year-on-year increase of 2.99% [2] - The company has distributed a total of 130 million yuan in dividends since its A-share listing, with 102 million yuan distributed in the last three years [3] Group 3 - As of September 30, 2025, the number of shareholders for Shangneng Electric increased by 62.40% to 75,800 [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 5.4105 million shares to 8.6206 million shares [3] - The company’s main business revenue composition includes 72.20% from photovoltaic inverters and 25.64% from energy storage bidirectional converters and system integration products [1]

Core Viewpoint - The solar energy sector in China is experiencing significant growth, with a notable increase in solar power generation and production figures for 2025, indicating a robust market outlook for the industry [1] Industry Summary - According to the National Bureau of Statistics, China's solar power generation reached 41.2 billion kilowatt-hours in November 2025, representing a year-on-year growth of 23.4% [1] - Cumulatively, from January to November 2025, the total solar power generation in China was 529.09 billion kilowatt-hours, marking a cumulative increase of 24.8% [1] - The report by Zhiyan Consulting forecasts the market trends and investment prospects for the solar power station industry in China from 2026 to 2032, highlighting the sector's potential for continued expansion [1] Company Summary - Key listed companies in the solar energy sector include Longi Green Energy (601012), Tongwei Co., Ltd. (600438), Sungrow Power Supply Co., Ltd. (300274), JA Solar Technology Co., Ltd. (002459), Trina Solar Limited (688599), TBEA Co., Ltd. (600089), Chint Electric Co., Ltd. (601877), TCL Zhonghuan Renewable Energy Technology Co., Ltd. (002129), Linyang Energy Co., Ltd. (601222), and Sungrow Power Supply Co., Ltd. (300827) [1]

1月13日，上能电气盘中下跌2.05%，截至10:14，报38.15元/股，成交4.45亿元，换手率2.99%，总市值 192.41亿元。 资金流向方面，主力资金净流出4387.41万元，特大单买入2469.73万元，占比5.55%，卖出3190.64万 元，占比7.17%；大单买入7204.70万元，占比16.19%，卖出1.09亿元，占比24.42%。 上能电气今年以来股价涨11.48%，近5个交易日跌1.98%，近20日涨4.95%，近60日涨30.74%。 资料显示，上能电气股份有限公司位于江苏省无锡市惠山区和惠路6号，成立日期2012年3月30日，上市 日期2020年4月10日，公司主营业务涉及电力电子设备的研发、生产、销售。主营业务收入构成为：光 伏逆变器72.20%，储能双向变流器及系统集成产品25.64%，电能质量治理产品1.19%，备件及技术服务 0.85%，其他0.12%。 上能电气所属申万行业为：电力设备-光伏设备-逆变器。所属概念板块包括：BIPV概念、智能电网、储 能、太阳能、逆变器等。 截至9月30日，上能电气股东户数7.58万，较上期增加62.40%；人均流通股5054股，较上期 ...

Investment Rating - The report maintains an "Outperform" rating for the industry [2] Core Insights - The space photovoltaic sector is gaining attention as leading companies increase investment in perovskite solar cell research and industrialization, which is expected to open new application scenarios for photovoltaics [6][7] - The deep-sea wind power project in Shandong has received approval, marking significant progress in the development of offshore wind energy, with expectations for substantial growth in this sector [6][11] - The energy storage and hydrogen sectors are seeing regulatory efforts to standardize competition, aiming to improve market order and sustainability [7] Summary by Sections Wind Power - The Shandong deep-sea wind power project has been approved, with a total capacity of 3000MW, utilizing 214 wind turbines of 14MW each [11] - The wind power index increased by 10.39%, outperforming the CSI 300 index by 7.60 percentage points, with a current PE_TTM of approximately 27.30 times [12] - The approval of the project indicates a significant advancement in offshore wind energy, supported by technological maturity and favorable policies [11] Photovoltaics - The space photovoltaic concept is gaining traction, with companies focusing on perovskite solar cells due to their lightweight and high-efficiency characteristics, which are suitable for space applications [6] - The photovoltaic equipment index rose by 3.86%, with the solar cell component index increasing by 5.82% [5] - The current PE_TTM for the photovoltaic sector is around 47.28 times, indicating strong market interest [5] Energy Storage & Hydrogen - A meeting held by various government bodies highlighted the rapid development of the energy storage and hydrogen battery industries, emphasizing the need for regulatory measures to curb irrational competition [7] - The energy storage index increased by 5.74%, with a current PE_TTM of 31.06 times, reflecting a healthy market outlook [5] - Recommendations for investment include companies with strong competitive positions in energy storage and distributed energy sectors [7]

Group 1 - On January 10, a total of 5 companies in the A-share market announced related plans for private placements [1] - Among these, 2 companies disclosed new private placement proposals, 1 proposal was approved by the shareholders' meeting, and 1 proposal was approved by the exchange [1] - The highest proposed fundraising amounts were from Tongfu Microelectronics and Meilan New Materials, with plans to raise no more than 4.4 billion and 1.0 billion respectively [1] Group 2 - Since the beginning of the year, 5 companies have announced completed private placement plans, with 3 companies raising over 1.0 billion [1] - The companies with the highest fundraising amounts were Shuneng Electric, Shenzhen Sanda A, and Taisheng Wind Energy, raising a total of 1.649 billion, 1.2 billion, and 1.176 billion respectively [1]

Group 1 - The core function of the PCS (Power Conversion System) is to facilitate bidirectional energy conversion between energy storage battery systems and the grid, managing both charging and discharging processes [2] - PCS products can be categorized based on system integration structure into centralized, string, and distributed types, and by operating mode into grid-connected, off-grid, and hybrid types [3] - The rated power of PCS has increased from 1.725MW to 2.5MW and above, with high-power models becoming mainstream due to the rapid expansion of energy storage systems [5] Group 2 - The demand for string PCS is rapidly growing as traditional centralized architectures face issues like battery parallel circulation, driven by the increasing scale of energy storage systems [5] - The report from Qidian Research Institute SPIR indicates that the top companies in China for PCS shipments in 2025 will include Kehua Data, Sungrow Power, and Huawei Digital Energy among others [5][7] - The global energy storage market analysis is part of a comprehensive report that includes various chapters on industry definitions, technology classifications, and policy analyses [8]

Core Viewpoint - The stock of Shangneng Electric has shown significant growth, with a year-to-date increase of 18.29%, indicating strong market performance and investor interest [1]. Group 1: Stock Performance - As of January 9, Shangneng Electric's stock price rose by 2.02% to 40.48 CNY per share, with a trading volume of 3.45 billion CNY and a turnover rate of 2.24%, resulting in a total market capitalization of 20.416 billion CNY [1]. - The stock has experienced an 18.29% increase in price this year, with a 26.26% rise over the past 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Shangneng Electric reported a revenue of 3.565 billion CNY, reflecting a year-on-year growth of 16.15%, and a net profit attributable to shareholders of 311 million CNY, which is a 2.99% increase compared to the previous year [2]. - The company has distributed a total of 130 million CNY in dividends since its A-share listing, with 102 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Shangneng Electric increased to 75,800, a rise of 62.40% from the previous period, while the average number of circulating shares per person decreased by 14.03% to 5,054 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 8.6206 million shares, an increase of 5.4105 million shares from the previous period [3].