证券研究报告 | 策略报告 gszqdatemark 2026 02 24 年 月 日 投资策略 年报预告景气行业的个股指引 一、策略专题：年报预告景气行业的个股指引 基于 2 月 21 日数据，我们结合业绩增长与超预期各项指标对 2025 年报 预告的景气行业进行筛选，当前景气行业主要分布于新能源、医药以及科 技三大板块，新能源景气行业包括能源金属、电池，医药景气行业包括医 疗服务、中药，科技景气行业包括元件、其他电子、游戏。本文进一步对 上述景气行业重点个股的财报进行梳理，以深化对各行业景气特征的认 知。 ——能源金属行业看，上市公司普遍提示了锂、钴等金属相关产品价格 的上涨叠加产品产量的增长，也有部分上市公司提及投资收益大幅增 长等。重点超预期个股为华友钴业。 ——电池行业看，新能源汽车及储能行业需求快速增长，电池及材料阶 段性去库存周期结束、销量大幅提升，六氟磷酸锂等材料价格迎来上 涨。重点超预期个股为璞泰来、先惠技术。 二、本周市场表现与政策事件（本周指 2 月 13 日当周） 2.1 A 股复盘：指数震荡微涨，科技股受密集催化 本周 A 股震荡微涨， 节前投资者整体保持观望情绪，市场成交量能较为低 ...

Group 1 - The company, Zhongrong Electric (301031.SZ), has indicated that its products are currently widely used in the photovoltaic industry [1] - There have been no customer demands for space photovoltaic applications so far, but the company plans to continuously monitor industry needs and technical standards [1] - The company will update its related products in a timely manner based on its technological accumulation and industry developments [1]

格隆汇2月13日丨中熔电气(301031.SZ)在投资者互动平台表示，公司产品暂未应用到太空空间站。 ...

证券日报网讯 2月13日，中熔电气在互动平台回答投资者提问时表示，Space X暂未成为公司的客户。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网讯 2月13日，中熔电气在互动平台回答投资者提问时表示，截至2026年2月10日，公司股东 人数为15010户。 ...

证券代码：301031 证券简称：中熔电气 公告编号：2026-007 西安中熔电气股份有限公司 2026年第一次临时股东会决议公告 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、误导性陈述或重大遗漏。 特别提示： 1、本次股东会采取现场投票与网络投票相结合的方式。 2、本次股东会无新增、变更、否决提案的情况。 3、为尊重中小投资者利益，提高中小投资者对公司股东会决议的重大事项的参与 度，本次股东会审议的相关议案对中小投资者单独计票。中小投资者是指除公司董事、 高级管理人员以及单独或者合计持有公司5%以上股份的股东以外的其他股东。 一、会议召开和出席情况 （一）会议召开情况 1、股东会的召集人：公司第四届董事会。 2、会议召开时间： （1）现场会议时间：2026年2月11日（星期三）下午14:30。 （2）网络投票时间： 其中：①通过深圳证券交易所交易系统进行网络投票的时间为2026年2月11日 9:15—9:25，9:30—11:30，13:00—15:00； ②通过深圳证券交易所互联网投票系统进行网络投票的时间为2026年2月11日 9:15—15:00。 3、会议主持人：董事 ...

陕西省西安市太白南路 139 号荣禾·云图中心 15 层 Floor15,Ronghe Cloud Centre,No.139,South Taibai Road,Xi'an City,Shaanxi Province,PRC 邮编/Zip Code:710065 电话/Tel:029-88360128 传真/Fax:029-88360129 北京市康达（西安）律师事务所 关于西安中熔电气股份有限公司 2026 年第一次临时股东会的 法 律 意 见 书 KDXA202602030279F 致：西安中熔电气股份有限公司 北京市康达（西安）律师事务所接受西安中熔电气股份有限公司（以下 简称"公司"）的委托，指派任自力、韩娇律师（以下简称"本所律师"） 出席公司2026年第一次临时股东会（以下简称"本次股东会"）并出具法律 意见书。 本所律师声明事项： 1.为出具本法律意见书，本所律师审查了公司提供的本次股东会的相关资 料，包括但不限于关于召开本次股东会的董事会决议、会议通知、会议议程、 议案等文件资料，听取了公司就有关事实所作的陈述和说明。公司已保证和承 诺所提供的文件及所作的陈述和说明是完整的、真实的、准确的和 ...

Core Viewpoint - The stock price of Zhongrong Electric (301031) has experienced a technical adjustment and capital outflow following a promising earnings forecast for 2025, while facing overall industry pullback and financial pressure [1]. Stock Performance - Zhongrong Electric saw a significant increase in stock price from January 21 to 22, 2026, but entered a phase of volatility and correction after reaching a peak on January 22. The stock is currently under pressure near the upper Bollinger Band, with the MACD histogram turning negative and the KDJ indicator retreating from the overbought zone, indicating a need for short-term technical adjustment [2]. Capital Movements - Despite the bright earnings forecast for 2025, there is a divergence in main capital flows, with some profit-taking investors choosing to exit. Additionally, the financing balance has declined from its high in late January, reflecting a cautious market sentiment [3]. Industry Sector Situation - In early February 2026, the electronic sector, including Zhongrong Electric, experienced adjustments, leading to overall weak performance that has negatively impacted individual stocks. Some investors are concerned about a potential slowdown in demand growth within the new energy supply chain, which could affect the company's future order visibility [4]. Financial Condition - According to the Q1 2025 report, the company's gross margin has decreased, and the debt-to-asset ratio has increased, raising market concerns regarding cost control and financial structure. Although there is strong earnings growth, the sustainability of profit quality remains to be observed [5]. Recent Events - On February 11, the company held a temporary shareholders' meeting to review proposals for adjusting the commodity futures hedging business limits, which may raise investor concerns about short-term uncertainties. Additionally, plans for employee stockholding platform reductions have also impacted market sentiment [6].

Group 1 - The company plans to maintain production during the Spring Festival by arranging shifts for continuous operation [1]

Core Viewpoint - The company, Zhongrong Electric (301031.SZ), is currently not applying its fuses in the power grid and electrical equipment sectors, focusing instead on product development in the fields of new energy vehicles, wind and solar storage, and data centers [1] Group 1: Company Focus and Technology - The company is primarily concentrating on research and development in new energy vehicles, wind and solar storage, and data centers [1] - It has established a core technological foundation that includes high-voltage interruption, active protection, and intelligent monitoring [1] Group 2: Future Plans and Market Strategy - The company will continue to monitor industry demand and technical standards in the power grid and electrical equipment sectors [1] - It plans to evaluate relevant research and market expansion strategies when the market conditions for large-scale application become favorable, leveraging its technological accumulation [1]