Industry Overview - The performance of the Shenwan Electric New Energy sector decreased by 2.62%, ranking 24th among 31 industries, while the Shenwan Public Utilities sector fell by 1.84%, ranking 13th [1][2] - During the same period, the CSI 300 index declined by 1.75%, and the Wind Information All A index dropped by 1.09% [2] Key Developments - The Ministry of Industry and Information Technology (MIIT) has initiated energy-saving inspections for 41 polysilicon companies to promote energy conservation and green development in the polysilicon industry [2] - Abu Dhabi Future Energy Company (Masdar) and Spanish company Iberdrola have partnered to invest in the UK's largest offshore wind project with a capacity of 1.4 GW, setting a new reference for international cooperation in renewable energy [2] Company Insights - CATL (Contemporary Amperex Technology Co., Limited) anticipates small-scale production of solid-state batteries by 2027, with larger-scale production expected around 2030 [3] - Guangdong Province has decided to raise the capacity price for coal and gas power plants, with coal power capacity price set at 165 yuan per kilowatt per year starting January 1, 2026 [3] Investment Recommendations - The report maintains a "recommended" rating for the electric new energy and public utility sectors, suggesting to focus on leading photovoltaic companies such as Aiko Solar, Longi Green Energy, and Tongwei Co., Ltd. [4] - In the wind power sector, it is advised to pay attention to component manufacturers like Jinlei Co., Ltd. and Dayun Heavy Industry [5] - For lithium battery investments, companies in the iron-lithium and anode segments such as Hunan Youneng and Shanghai Xiba are highlighted [5]

Core Viewpoint - The virtual power plant (VPP) is emerging as a new operational model in the energy sector, significantly enhancing power supply security and promoting renewable energy consumption. The industry is transitioning from an invitation-based model to a market-oriented approach, with government targets set for 2027 and 2030 to increase regulation capacity to 20 million kilowatts and over 50 million kilowatts, respectively [1][11][25]. Industry Overview - Virtual power plants aggregate distributed energy resources, adjustable loads, and storage systems, acting as new operational entities that participate in power system optimization and market transactions [2]. - The development of virtual power plants is supported by a comprehensive policy framework established by the government, which includes various action plans and guidelines aimed at fostering innovation and market mechanisms [8][11]. Development Background - The rapid growth of renewable energy in China, particularly in solar and wind power, has created a pressing need for flexible power management solutions. Virtual power plants can significantly reduce the need for redundant capacity by providing flexible load adjustments [13][15]. - The construction cost of virtual power plants is only one-eighth that of traditional coal-fired power plants, making them a cost-effective solution for peak load management [15]. Current Status - The virtual power plant industry in China has established a complete industrial chain, encompassing resource aggregation, platform operation, and market trading. Key regions include Shandong, Guangdong, Zhejiang, and Shanghai, where pilot projects are actively being developed [17][19]. - The commercial model is evolving from a single demand response approach to a diversified model that includes power trading and carbon services [19]. Competitive Landscape - The industry features a diverse competitive landscape with participation from state-owned enterprises, private companies, and technology firms. Major players include State Grid, Huaneng Group, and Guodian NARI, which leverage their resources and infrastructure to dominate the market [23]. - Private companies like Guoneng Rixin and Teruid focus on technological innovation and niche markets, while tech giants such as Huawei and Tencent are entering the sector with advanced digital technologies [23]. Future Trends - The virtual power plant industry is expected to experience accelerated growth driven by policy support and market mechanisms, with projections indicating a market size exceeding 10.2 billion yuan by 2025 and surpassing 100 billion yuan by 2030 [25][26]. - Technological advancements in AI, 5G, and blockchain will enhance operational efficiency and real-time responsiveness, transforming virtual power plants into intelligent energy management systems [27]. - The integration of virtual power plants with other sectors, such as transportation and building management, will create new business models and expand the ecosystem [28].

Stock Recommendations - Jerry Holdings (002353.SZ) shows strong overseas growth potential with a steady increase in orders and confidence from management through share buybacks[4] - Guoneng Rixin (301162.SZ) reported a 40.14% year-on-year revenue growth in Q1 2025, with a net profit growth of 104.81%[25] - Ruihu Mould (002997.SZ) achieved a revenue of 1.662 billion yuan, up 48.3% year-on-year, and a net profit of 227 million yuan, up 40.33%[26] - Shanhua Mountain (688410.SH) benefits from the recovery of blood dialysis machine tenders, leading to increased sales[27] - Yuanjie Technology (688498.SH) has a diverse product matrix with significant orders, indicating potential for improved profitability[28] - Gigabit (603444.SH) launched successful new games, with the mobile game "Zhang Jian Chuan Shuo" achieving top rankings, suggesting a positive outlook for 2025[29] - Shangmei Co., Ltd. (2145.HK) reported impressive sales during the 618 shopping festival, indicating strong brand performance and growth potential[30] Market Performance - The weighted return of the stock portfolio in July was -0.22%, while the equal-weighted return was 8.68%[14] - The Shanghai Composite Index rose by 4.97% in July, with the ChiNext Index increasing by 9.97%[14] - The best-performing stocks in July included Haopeng Technology with a return of 41.54% and Daotong Technology with 17.61%[15] Risk Factors - Economic recovery and policy support may fall short of expectations, posing risks to the market[31] - Individual company operational risks could impact stock performance[31]

Group 1 - The Ministry of Industry and Information Technology emphasizes the need for enhanced governance in key industries such as photovoltaic and new energy vehicles, aiming to eliminate outdated production capacity through standard upgrades [1] - The meeting focuses on deepening reforms and modernizing industry governance, which is expected to positively influence the long-term healthy development of the industry [1] Group 2 - China National Petroleum Corporation Capital, through its subsidiary Kunlun Capital, has acquired a 20% stake in both Fusion New Energy (Anhui) Co., Ltd. and China Fusion Energy Co., Ltd., indicating a strategic interest in the fusion energy sector [2] - The investment in fusion energy reflects a potential new avenue for capital deployment, supporting technological breakthroughs and the transformation of the energy structure [2] Group 3 - Guoneng Rixin has announced that the acquirer Yongzheng and its concerted party Ding Jiangwei plan to gain control of the company through a private placement, which has received approval from the shareholders' meeting and regulatory bodies [3] - The acquisition will result in the acquirer holding over 30% of Guoneng Rixin's equity, triggering a mandatory tender offer, but the acquirer has committed to not transferring the newly issued shares for three years, allowing for a smooth transaction [3] - The funds raised from the private placement are expected to facilitate the company's business expansion and innovation in new energy information products [3]

Core Viewpoint - The announcement indicates that Yongzheng and his concerted actor Ding Jiangwei subscribed to a specific issuance of 12.3621 million shares from Guoneng Rixin at a price of 30.55 yuan per share, resulting in an increase in their shareholding from 35.68% to 41.68%, triggering a mandatory tender offer obligation [1] Summary by Relevant Sections - **Share Issuance Details** - Guoneng Rixin issued 12.3621 million shares at a price of 30.55 yuan per share [1] - **Shareholding Changes** - Following the issuance, Yongzheng and Ding Jiangwei's shareholding will rise from 35.68% to 41.68% [1] - **Regulatory Compliance** - The increase in shareholding exceeds the 30% threshold, which triggers a mandatory tender offer obligation under the relevant regulations [1] - Yongzheng has committed not to transfer the newly acquired shares for 36 months from the issuance date, and the shareholders' meeting has approved the exemption from the tender offer requirement [1]

关于雍正认购国能日新向特定对象发行股票涉及的 豁免要约收购事宜 的 法律意见书 二〇二五年七月 北京市通商律师事务所 中国北京市建国门外大街 1 号国贸写字楼 2 座 12-15 层 100004 12-15th Floor, China World Office 2, No. 1 Jianguomenwai Avenue, Beijing 100004, China 电话 Tel: +86 10 6563 7181 传真 Fax: +86 10 6569 3838 电邮 Email: beijing@tongshang.com 网址 Web: www.tongshang.com 北京市通商律师事务所 关于雍正认购国能日新向特定对象发行股票涉及的豁免要 约收购事宜的法律意见书 致：国能日新科技股份有限公司 本所接受国能日新科技股份有限公司(以下简称"发行人"、"公司"或"国能日 新")的委托，担任其向特定对象发行 A 股股票(以下简称"本次发行")的专项法律 顾问。 本所根据《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》")、《上市公司收购管理办法》(以下 ...

北京市通商律师事务所 关于 《国能日新科技股份有限公司收购报告书》的 法律意见书 二〇二五年七月 | | | | 释 | 义 2 | | --- | --- | | 正 | 文 5 | | 一、 | 收购人的基本情况及主体资格 5 | | 二、 | 本次收购的目的 7 | | 三、 | 收购方式 8 | | 四、 | 本次收购免于发出要约的情况 17 | | 五、 | 资金来源 18 | | 六、 | 后续计划 18 | | 七、 | 本次收购对上市公司的影响 20 | | 八、 | 与上市公司之间的重大交易 21 | | 九、 | 前 个月内买卖上市公司股份的情况 22 6 | | 十、 | 《收购报告书》的格式与内容 22 | | 十一、 | 结论 22 | 释 义 除非本法律意见书另有所指，下列词语分别具有如下含义： | 国能日新、上市公司、 | 指 | 国能日新科技股份有限公司 | | --- | --- | --- | | 公司 | | | | 收购人 | 指 | 雍正 | | 一致行动人 | 指 | 丁江伟 | | 本次发行 | 指 | 国能日新 年度向特定对象发行股票 2024 | | 本次收购 ...

证券代码：301162 证券简称：国能日新 公告编号：2025-085 注 1：上表中持股数量指董事、监事和高级管理人员直接持有公司股份的数量； 注 2：上表中本次发行后相关人员持股份比例为公司初步计算结果，最终数据以中国证 券登记结算有限责任公司深圳分公司提供的结果为准； 国能日新科技股份有限公司 关于董事、监事和高级管理人员持股情况变动的报告 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。 国能日新科技股份有限公司（以下简称"公司"）经中国证券监督管理委员 会出具的《关于同意国能日新科技股份有限公司向特定对象发行股票注册的批复》 （证监许可[2025]159 号），公司向特定对象发行人民币普通股（A 股）12,362,068 股。本次向特定对象发行股票新增股份的登记手续已在中国证券登记结算有限责 任公司深圳分公司办理完毕，新增股份于 2025 年 7 月 30 日在深圳证券交易所上 市。公司总股本由 120,221,656 股变更为 132,583,724 股。 本次向特定对象发行股票的发行对象为公司控股股东及实际控制人雍正先 生。本次发行前后，除公司董事 ...

长江证券承销保荐有限公司 关于国能日新科技股份有限公司 2024 年度向特定对象发行 A 股股票 之 上市保荐书 保荐人（主承销商） 中国（上海）自由贸易试验区世纪大道 1198 号 28 层 二零二五年七月 国能日新科技股份有限公司 向特定对象发行 A 股股票之上市保荐书 声 明 长江证券承销保荐有限公司（以下简称"长江保荐"、"保荐人"或"保荐 人（主承销商）"）接受国能日新科技股份有限公司（以下简称"国能日新"、 "发行人"或"公司"）的委托，担任其 2024 年向特定对象发行 A 股股票的保 荐人（主承销商）。 | 公司名称 | | 国能日新科技股份有限公司 | | --- | --- | --- | | 英文名称 | | State Power Rixin Technology Co.,Ltd. | | 上市交易所 | | 深圳证券交易所 | | 股票简称 | | 国能日新 | | 股票代码 | | 301162.SZ | | 注册资本 | | 12,022.1656万元 | | 法定代表人 | | 雍正 | | 成立日期 | | 2008年2月2日 | | 上市时间 | | 2022年4月29日 ...

披露的提示性公告 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。 《国能日新科技股份有限公司 2024 年度向特定对象发行 A 股股票上市公告 书》及相关文件已于 2025 年 7 月 28 日在中国证监会指定创业板信息披露网站巨 潮资讯网（http://www.cninfo.com.cn）上披露，敬请投资者注意查阅。 特此公告。 国能日新科技股份有限公司 董事会 2025 年 7 月 28 日 证券代码：301162 证券简称：国能日新 公告编号：2025-080 国能日新科技股份有限公司 关于 2024 年度向特定对象发行 A 股股票上市公告书 ...