同飞股份公告，2026年度拟向特定对象发行股票募集资金不超过12亿元，募集资金扣除发行费用后的净 额将投资于南方总部暨工业领域冷却设备及组件项目、三河同飞制冷股份有限公司液冷温控项目及补充 流动资金。其中，南方总部项目预计投资6亿元，液冷温控项目预计投资3亿元，补充流动资金3亿元。 本次发行股票数量不超过5117.37万股，发行价格将根据竞价结果确定，且不低于定价基准日前20个交 易日公司股票交易均价的80%。 ...

一、对外投资概述 证券代码：300990 证券简称：同飞股份 公告编号：2026-007 三河同飞制冷股份有限公司 关于与苏州科技城管理委员会签订战略合作意向书暨对外 投资的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或者重大遗漏。 三河同飞制冷股份有限公司（以下简称"公司"）于 2026 年 1 月 6 日召开 第三届董事会第二十三次（临时）会议，审议通过了《关于与苏州科技城管理委 员会签订战略合作意向书暨对外投资的议案》。根据《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》及《公司章程》等有关规定，本次投资事项在公司董事会审批权限 范围内，无需提交股东会审议。董事会同意授权公司管理层全权办理此次对外投 资有关事宜，包括但不限于投资相关的登记备案、子公司的设立、资产购置、相 关合同及协议的签订以及办理其他与本事项相关的一切事宜，上述授权自公司董 事会审议通过之日起至上述授权事项办理完毕之日止。具体内容详见公司于2026 年 1 月 6 日披露于巨潮资讯网（www.cninfo.com.cn）的 ...

证券日报网讯 1月27日，同飞股份在互动平台回答投资者提问时表示，公司严格按照企业会计准则及相 关法律法规的规定进行会计核算、编制财务报告，真实、准确、完整地反映了公司的经营情况，不存在 业绩造假行为。 （文章来源：证券日报） ...

如何理解？如果 PUE 为 1.3 ，即数据中心每消耗 1.5 度电，其中只有 1 度电真正用于芯片计算，其余 0.5 度用于制冷、配电、照明等基础设 施。 摘要 高效冷却是降低数据中心PUE的有效抓手。 数据中心的能耗与冷却息息相关。 拆解来看，数据中心靠稳定的电力维系芯片的高效运算，而电力消耗离不开热的产生，若热量得不到有效消散，温度过高会导致芯片性能下降、运算 速度变慢 。 因此，温控设备、冷却手段成为建设数据中心的关键一环。然而，温控系统也需要消耗电力， 一个决定数据中心是否高效运行重要指标在于，电能 的消耗占比。 而 PUE(Power Usage Effectiveness , 电能使用效率 ) 是 决定数据中心运行效率的关键指标，即数据中心总能耗 /IT 设备能耗， 数字越小则代 表用于芯片计算的电量使用效率越高 ，目前已普遍要求 PUE ＜ 1.3 ，甚至逼近 1.2 。 而冷却，往往是数据中心的耗电大户。 也有观点认为，数据中心发展初期， PUE ＞ 2 可以说是常态，其中的冷却环节是造成 PUE 走高的主要原因。 降低 PUE 的路径有两条： 一是充分利用外部冷却资源；二是数据中心内部的高 ...

Investment Rating - The report maintains an "Overweight" rating for the power equipment sector [6] Core Insights - The report highlights new opportunities in the photovoltaic industry driven by space solar power initiatives and rising prices of battery components [1][17] - It emphasizes the importance of supply-side reforms and technological advancements in creating long-term growth opportunities within the industry [1][19] - The report identifies key companies to watch in various segments, including supply chain price increases, new technology growth, and perovskite solar cell developments [1][19][21] Summary by Sections Photovoltaics - The price of multi-crystalline silicon n-type raw materials remains stable, with an average transaction price of 59,200 RMB per ton [17] - N-type battery cell prices have increased to 0.42 RMB per watt, with a price range of 0.40-0.43 RMB per watt [17] - The report notes that rising silver prices have led to increased component costs, with distributed component prices now ranging from 0.70 to 0.80 RMB per watt [17] - SpaceX and Tesla plan to achieve a combined solar manufacturing capacity of 200GW annually in the U.S. within three years, with 40GW dedicated to space solar power [1][18] - Key companies to focus on include Tongwei Co., GCL-Poly, LONGi Green Energy, JA Solar, and Trina Solar for supply-side reform opportunities [1][19] Wind Power & Grid - The Netherlands will launch a 1GW offshore wind project tender in September 2026, with a subsidy budget of approximately 32.45 billion RMB [19][20] - Turkey plans to initiate its first offshore wind tender by the end of 2026, aiming for 5GW of installed capacity by 2035 [19][20] - Southern Power Grid has set a fixed asset investment of 180 billion RMB for 2026, focusing on new power system construction and strategic emerging industries [20] - Companies to watch include Goldwind, Yunda, Mingyang Smart Energy, and Sany Heavy Energy in the wind turbine sector [20] Hydrogen Energy - A ceremony for the operation of 300 hydrogen fuel heavy trucks was recently held, showcasing advancements in hydrogen energy technology [3][21] - The trucks are equipped with a 130kW fuel cell system and can achieve a range of over 600 kilometers [3][21] - Key companies in this sector include Shuangliang Energy, Huadian Heavy Industry, and Shenghui Technology [3][21] Energy Storage - The report forecasts that new energy storage installations in China will reach 58.6GW/175.3GWh in 2025, a year-on-year increase of 38%/60% [4][22] - The average bid price for 2-hour energy storage systems is projected to be 0.55 RMB/Wh in 2025, down 16.9% from 2024 [4][22] - Companies to focus on include Sungrow Power, Canadian Solar, and Kehua Data for large-scale energy storage opportunities [4][22] New Energy Vehicles - CATL launched the "Tianxing II" series solutions for light commercial vehicles, including the industry's first intelligent battery management application [5][27] - The solutions cater to various scenarios, including high-frequency urban distribution and extreme temperature conditions [5][27] - Key companies in the battery sector include CATL, Penghui Energy, and Guoxuan High-Tech [5][29]

企查查APP显示，近日，苏州同飞温控技术有限公司成立，注册资本1亿元，经营范围包含：电池销 售；先进电力电子装置销售；信息系统集成服务；计算机系统服务；工程管理服务等。企查查股权穿透 显示，该公司由同飞股份全资持股。 ...

Core Viewpoint - The performance forecasts for 2025 from eight listed companies in the energy storage sector show a clear divergence, with four companies expecting losses while four anticipate profits or significant profit growth. Despite overall performance pressure, advancements in energy storage business are highlighted as a common positive aspect among these companies [2][4]. Group 1: Companies Expecting Losses - Trina Solar expects a net loss of 6.5 billion to 7.5 billion yuan, an increase from a loss of 3.443 billion yuan in the same period last year, primarily due to rising costs of key raw materials [5][6]. - Longi Green Energy forecasts a net loss of 6 billion to 6.5 billion yuan, a decrease from a loss of 8.592 billion yuan last year, citing a challenging operating environment in the photovoltaic industry [9]. - JinkoSolar anticipates a net loss of 5.9 billion to 6.9 billion yuan, shifting from a profit of 98.9276 million yuan last year, due to intensified price fluctuations and trade protection policies [10]. - JA Solar predicts a net loss of 4.5 billion to 4.8 billion yuan, slightly widening from a loss of 4.656 billion yuan last year, impacted by increased competition and declining sales prices [12]. Group 2: Companies Expecting Profits - Kstar Science expects a net profit of 600 million to 660 million yuan, a year-on-year increase of 52.21% to 67.43%, driven by a recovery in the European energy storage market [14]. - Penghui Energy forecasts a net profit of 170 million to 230 million yuan, recovering from a loss of 252 million yuan last year, attributed to increased sales orders and revenue growth [16]. - Hekang New Energy anticipates a net profit of 50 million to 75 million yuan, a significant increase of 385.62% to 628.43% compared to last year, focusing on green energy solutions and expanding its household energy storage business [18]. - Tongfei Co. expects a net profit of 240 million to 268 million yuan, a growth of 56.43% to 74.68% year-on-year, with significant contributions from its energy storage temperature control business [19][20].

Group 1: AI Demand Surge - The demand for AI has led to significant revenue growth for several companies in the industry chain, with notable performances from companies like Demingli, which expects a revenue increase of 115.82% to 136.77% in 2025, reaching between 10.3 billion to 11.3 billion yuan [3] - Demingli also anticipates a net profit of 650 million to 800 million yuan in 2025, marking a year-on-year increase of 85.42% to 128.21%, with a remarkable quarterly net profit growth of over 1000% in Q4 2025 [3] - Tianfu Communication, a core supplier of optical modules, expects a net profit of 1.881 billion to 2.15 billion yuan in 2025, driven by the acceleration of AI development and global data center construction [3] Group 2: Consumer Electronics and Materials Recovery - The consumer electronics market is experiencing a recovery, positively impacting upstream materials and equipment companies, such as Jin'an Guoji, which forecasts a net profit of 280 million to 360 million yuan in 2025, reflecting a substantial increase of 655.53% to 871.40% [5] - The growth in Jin'an Guoji's performance is attributed to improved market conditions for copper-clad laminates and increased sales volume and prices [5] - Baiao Intelligent, a supplier of smart manufacturing equipment, expects a net profit of 90 million to 120 million yuan in 2025, representing a year-on-year increase of 228.34% to 337.79%, driven by rising demand in the consumer electronics and industrial markets [6] Group 3: Turnaround Stories - Defu Technology anticipates a net profit of 97 million to 125 million yuan in 2025, marking a turnaround from previous losses, attributed to significant demand recovery in the downstream market and an increase in high-value product shipments [6] - Qianfang Technology expects to achieve a net profit of 250 million to 320 million yuan in 2025, recovering from a loss of 1.193 billion yuan in the previous year, driven by market expansion and product innovation in the smart IoT sector [7] - Tongfei Co. forecasts a net profit of 240 million to 268 million yuan in 2025, with a growth rate of 56.43% to 74.68%, primarily due to the rapid growth of temperature control products in power electronic devices [7]

Core Viewpoint - Several companies are projected to experience significant growth in net profit for 2025, with increases ranging from over 16% to more than 1400% compared to the previous year [1] Group 1: Company Projections - Nanfang Precision is expected to see a net profit increase of 1130% to 1417% in 2025 [1] - Jin'an Guoji anticipates a net profit growth of 655.53% to 871.4% for 2025 [1] - Limin Co. forecasts a net profit rise of 471.55% to 514.57% in 2025 [1] - Hekang New Energy projects a net profit increase of 386% to 628% for 2025 [1] - Baiao Intelligent expects a net profit growth of 228.34% to 337.79% in 2025 [1] - Dajin Heavy Industry anticipates a net profit increase of 121.58% to 153.23% for 2025 [1] - Yinhui Technology projects a net profit rise of 114% to 133% in 2025 [1] - Demingli expects a net profit increase of 85% to 128% for 2025 [1] - Juhua Co. forecasts a net profit growth of 80% to 101% in 2025 [1] - Ganli Pharmaceutical anticipates a net profit increase of 78.96% to 95.23% for 2025 [1] - Tongfei Co. projects a net profit rise of 56.43% to 74.68% in 2025 [1] - Jiajia Yue expects a net profit increase of 50.06% to 72.79% for 2025 [1] - Tianfu Communication anticipates a net profit growth of 40% to 60% in 2025 [1] - Shunke Zhilian projects a net profit increase of 34.94% to 59.47% for 2025 [1] - Feilihua expects a net profit rise of 31.12% to 50.22% in 2025 [1] - Hailide anticipates a net profit increase of 21.78% to 31.53% for 2025 [1] - Ligao Food projects a net profit growth of 16.06% to 23.52% in 2025 [1]

（文章来源：证券日报） 证券日报网讯 1月21日，同飞股份发布公告称，公司预计2025年度归属于上市公司股东的净利润为24， 000万元至26，800万元，比上年同期增长56.43%至74.68%。 ...