第五届风电运维技改研讨会 来源：北极星风力发电网 特别声明：北极星转载其他网站内容，出于传递更多信息而非盈利之目的，同时并不代表赞成其观点或 证实其描述，内容仅供参考。版权归原作者所有，若有侵权，请联系我们删除。凡来源注明北极星风力 发电网的内容为北极星原创，转载需获授权。 第五届风电运维技改研讨会 2026/3/10-11日 周老师 18911830259 2026/3/10-11日 周老师 18911830259 北极星风力发电网获悉，2月1日，海工巨头大金重工发布公告，正式聘任葛欣女士为公司副总经理。引 人关注的是，这位新晋高管将同时兼任公司董事会秘书职务，成为核心管理层中的关键一员。 公开资料显示，葛欣生于1983年，拥有工学与经济学双学士学位及有机化学硕士学位，是典型的复合型 专业人才。其职业履历颇为亮眼，曾先后在北京当升材料、北京容百投资控股、瀚华金控资本集团担任 重要管理职务，更曾在我爱我家控股集团出任董事会办公室主任及监事会主席，在宁波容百新能源科技 担任董事会秘书，积累了丰富的上市公司治理与资本运作经验。 值得关注的是，葛欣同时持有深交所与上交所董事会秘书资格证书，并具备证券及基金从业资格， ...

2月2日，A股三大指数集体下跌。截至收盘，沪指跌2.48%报4015.75点，深成指跌2.69%报13824.35 点，创业板指跌2.46%报3264.11点。从板块行情上来看，今日表现较好的是白酒、特高压和超级品 牌，而黄金概念、存储芯片和小金属概念等板块下跌。 | 基金经理 | 基金名称 | 基金代码 | 公告日期 | 变动日期 | 任职状态 | 变动原因说明 | | --- | --- | --- | --- | --- | --- | --- | | 来国庆 | ■拓医疗健康混合C | 018053 | 2026/1/31 | 2026/1/29 | 亮取 | 工作变动 | | | ■拓医疗健康混合A 全赢红利价值混合C | 018052 016563 | 2026/1/31 2026/1/31 | 2026/1/29 2026/1/31 | 高职 感受 | 工作变动 个人顾园 | | | 金鹰红利价值混合A | 210002 | 2026/1/31 | 2026/1/31 | 高职 | 个人顾园 | | 张属华 | 全國醫慧生活混合C | 019749 | 2026/1/31 | 2026/1/31 ...

公开资料显示，陈保国于2016年1月加入西部利得基金，现任公司权益投资部联席总经理、投资总监。 1月30日，西部利得基金发布公告称，基金经理陈保国因个人原因分别离任西部利得碳中和混合发起基金、西部利得汇鑫6个月持有期混合基金、西部利得景 瑞混合基金、西部利得绿色能源混合基金4只基金。至此，陈保国名下再无其他在管基金。 | 离任基金经理姓名 | 陈保国 | | --- | --- | | 离任原因 | 个人原因 | | 离任日期 | 2026年1月30日 | | 转任本公司其他工作岗位 | | | 的说明 | | | 是否已按规定在中国基金 | 是 | | 小协会办理变更手续 | | | 是否已按规定在中国基金 | 是 | | 业协会办理注销手续 | | 截至2025年末，西部利得碳中和混合发起基金持有股票占比为89.56%，持有债券占比为0.35%，前十大持仓个股分别为多氟多、盛新锂能、天赐材料、中矿 资源、骄成超声、金盘科技、宁德时代、亿纬锂能、华盛锂电、大金重工。 陈保国在西部利得碳中和混合发起基金2025年四季报中表示，四季度碳中和板块内部有所分化，锂电材料、碳酸锂、AI数据中心、商业航天相关产业链标 ...

Investment Rating - The report maintains an "Overweight" rating for the electric equipment industry [5] Core Insights - The report highlights the introduction of a national capacity pricing policy for energy storage, which recognizes the capacity value of new energy storage systems [7][21] - It forecasts a significant increase in new energy storage installations, with an expected addition of 62.24 GW/183 GWh by 2025, marking an 84% growth compared to the end of 2024 [24] - The report emphasizes the ongoing high demand for energy storage both domestically and internationally, with leading companies expected to accelerate their performance [7][21] Summary by Sections Energy Storage - The national capacity pricing mechanism for energy storage has been established, allowing independent energy storage systems to receive compensation based on their peak capacity contributions [21][22] - The average storage duration is projected to increase to 2.58 hours, with an expected utilization of 1195 hours in 2025, reflecting a significant improvement in efficiency [25] - Key companies in the energy storage sector include Haibo Shichuang, Sunshine Power, and others, which are expected to benefit from the new policies and market conditions [7] Lithium Battery Sector - Xianhui Technology anticipates a net profit of 350 million yuan for 2025, a year-on-year increase of 56.93%, driven by improved operational efficiency and overseas project contributions [13] - Jiayuan Technology expects revenues between 9.5 billion and 9.75 billion yuan for 2025, with a return to profitability, highlighting a recovery in market demand [14] - The report recommends companies such as Ningde Times and Yiwei Lithium Energy for investment, indicating a positive outlook for the lithium battery sector [7] Electric Equipment - The report notes that Hunan Province plans to invest 45.2 billion yuan in 2026 to promote 24 major energy projects, indicating strong regional support for electric infrastructure [26] - The report also highlights the surge in electricity prices in the U.S., which reached unprecedented levels, suggesting potential volatility in energy markets [29] - Companies like Xujie Electric and Pinggao Electric are recommended for their roles in high-voltage projects and equipment exports [7][26] Photovoltaic Sector - The report indicates that new photovoltaic installations in China are expected to reach 315 GW in 2025, with a focus on companies like Longi Green Energy and Trina Solar [7] - The prices of photovoltaic components are experiencing fluctuations, with recent increases in battery and module prices due to market dynamics [31][33] - The report suggests that the photovoltaic sector remains a key area for investment, particularly in light of upcoming policy changes affecting export taxes [7][33]

Industry and Company Analysis Summary Industry Overview Lithium Battery and Energy Storage - The national capacity electricity price policy has been implemented, expected to increase the Internal Rate of Return (IRR) for energy storage by over 3% [1] - In February, lithium battery production is projected to decrease by over 10%, indicating a strong production season despite being traditionally off-peak [1] - Sodium batteries are undergoing winter tests with multiple automotive companies, with expectations for mass shipments in Q2 [1] Key Segments Ranking - The preferred segments in the energy storage industry are ranked as follows: - Energy storage cells (Penghui) - Iron lithium cathodes - Energy storage integration (Haibo) - Separators (Enjie) - Copper and aluminum foils (Nord and Dingsheng) [1] Sodium Battery Sector - The lithium carbonate market is expected to undergo adjustments, with a new upward trend anticipated next week, maintaining a long-term positive outlook [2] - Recent price drops are not due to fundamental factors; downstream procurement has increased, with significant spot transactions indicating acceptance of the 150,000 yuan price for lithium [2] - February is expected to see price increases due to strong battery production and ongoing maintenance at lithium salt plants [2] Wind Power Sector - Recent earnings forecasts in the wind power sector have largely fallen short of expectations, primarily due to a decline in Q4 shipments and year-end impairments [2] - The main machine segment has cleared out low-priced orders, indicating a confirmed bottom, with expectations for overall gross margin recovery starting in Q1 2026 [2] - Recommended stocks in this sector include Jinlei Co., Daikin Heavy Industries, and major machine manufacturers (Goldwind, SANY, Yunda, Mingyang) [2] Photovoltaic Sector - Positive outlook for space photovoltaic technology and silver-free solutions [2] - SpaceX has applied to the FCC to deploy 1 million satellites, enhancing the logic behind space photovoltaic initiatives [2] - High silver prices and technological breakthroughs have led to a reduction in costs for copper-based batteries by an average of 0.15 yuan/W, indicating a potential explosion in silver-free industrialization [2] AIDC (Artificial Intelligence Data Center) Sector - A new round of bidding is emerging in the domestic supply chain [2] - ByteDance is shifting its bidding towards high-voltage direct current solutions, while NVIDIA's GB300 liquid cooling certification is tightening, potentially redirecting investments towards core components and ASIC overflow [2] - The production capacity of Yingwei QD is expected to increase by 20 times in Q1, closely integrating with the NVIDIA ecosystem [2]

Summary of Conference Call Notes Industry Overview - The focus is on the European offshore wind industry, highlighting the need for a reevaluation of valuations due to previously pessimistic market expectations and the unique attributes of certain companies [1][2]. Key Points Market Sentiment and Valuation Adjustments - The market has previously held overly pessimistic views regarding the growth potential of the European offshore wind sector, failing to recognize the unique characteristics of companies like Daikin Heavy Industries [1][2]. - Recent developments, such as the UK AR7 auction results, have led to an upward revision of installation forecasts for offshore wind, indicating a more positive outlook for the industry [2]. Positive Developments in Installation Forecasts - The UK AR7 auction exceeded expectations with a capacity of 8.4 GW, compared to prior estimates of 5-6 GW, prompting an increase in projected installation volumes for 2028 and 2029 [2]. - The forecast for annual installations in Europe has been adjusted to 9.1 GW for 2028 and 10 GW for 2029, reflecting a more optimistic growth trajectory [2]. Long-term Goals and Regional Development - The "Hamburg Declaration" from ten European countries reaffirms the goal of achieving 300 GW of offshore wind capacity in the North Sea by 2050, with a target of over 30 GW by the end of 2025 [2]. - The potential for additional development exists in other regions such as the Baltic Sea, Mediterranean, Atlantic coast, and Black Sea, suggesting significant future growth opportunities [2]. Company-Specific Insights - Daikin Heavy Industries is noted for its superior valuation potential, which is currently not reflected in its market price, with a PE ratio of 25X for 2026, compared to lower valuations for competitors [3]. - Cadeler, a leader in offshore wind installation, is also undervalued with a PE ratio of only 5-6X for 2026, despite expanding its business from turbine installation to foundation installation and transportation [3]. - The report emphasizes the importance of recognizing the alpha attributes of these companies, which have not been adequately priced into the market [3]. Recommendations - Continued optimism for the European offshore wind sector is expressed, with specific recommendations to focus on companies such as Daikin Heavy Industries, Cadeler, and others involved in offshore wind infrastructure [3].

Summary of Key Points from Conference Call Records Industry Overview - **Industry Focus**: The records primarily discuss the lithium battery, sodium battery, wind power, and photovoltaic sectors, highlighting recent developments and future expectations in these industries. Lithium Battery Sector - **National Capacity Pricing Policy**: The introduction of the national capacity pricing policy is expected to increase the Internal Rate of Return (IRR) for energy storage by over 3%, with more provinces likely to adopt energy storage solutions by 2026 [1] - **Lithium Battery Production**: In February, lithium battery production is projected to decrease by over 10%, indicating that the production season is not as weak as anticipated [1] - **Sodium Battery Testing**: Ningde has initiated winter testing with multiple automotive companies for sodium batteries, with expectations for mass production in Q2 [1] - **Investment Focus**: The preferred investment hierarchy includes energy storage cells (Penghui) > lithium iron phosphate cathodes > energy storage integration (Haibo) > separators (Enjie), copper, and aluminum foil (Nord and Dingsheng) [1] Sodium Battery Sector - **Lithium Carbonate Price Adjustment**: A new round of price increases for lithium carbonate is anticipated following adjustments, with strong downstream purchasing activity observed after recent price drops [2] - **Wind Power Sector Performance**: Recent performance forecasts for the wind power sector have largely fallen short of expectations due to a decline in Q4 shipments and year-end impairments, indicating a confirmed bottom for the main engine sector [2] - **Investment Recommendations**: Recommended stocks include Jinlei Co., Daikin Heavy Industries, and major engine manufacturers (Goldwind, SANY, Yunda, Mingyang) [2] Photovoltaic Sector - **Space Photovoltaics**: The application by SpaceX to deploy 1 million satellites to create a space data center reinforces the logic behind space photovoltaics [3] - **Cost Reduction in Battery Production**: The high silver prices and technological breakthroughs have led to an average cost reduction of over 0.15 CNY/W in copper-based batteries, indicating a potential explosion in the no-silver industrialization [3] - **Investment Focus**: The preferred investment hierarchy includes equipment manufacturers (Liancheng, Lap, Maiwei, Yujing) and battery materials (Bojian, Foster, Kaisheng, Juhua, Dike, Risheng, Junda) [3] AIDC (Artificial Intelligence Data Center) Sector - **New Bidding Opportunities**: The domestic supply chain is entering a new round of bidding, with ByteDance shifting its focus to high-voltage direct current solutions and Nvidia tightening certification for liquid cooling [3] - **Production Increase**: The production capacity of Yingwei's QD is expected to increase by 20 times in Q1, indicating a strong alignment with Nvidia's ecosystem [3]

Industry and Company Summary Industry: Lithium Battery and Energy Storage Key Points - **National Capacity Pricing Policy**: The introduction of the national capacity pricing policy is expected to increase the Internal Rate of Return (IRR) for energy storage by over 3%, with more provinces expected to adopt energy storage solutions by 2026 [1] - **Lithium Battery Production**: In February, lithium battery production is projected to decrease by over 10%, indicating that the production season is not as weak as anticipated [1] - **Sodium Battery Testing**: Ningde has initiated winter testing for multiple automotive companies regarding sodium batteries, with expectations for mass shipments in Q2 [1] - **Investment Focus**: The preferred investment hierarchy is as follows: energy storage cells (Penghui) > lithium iron phosphate cathodes > energy storage integration (Haibo) > separators (Enjie), copper and aluminum foils (Nord and Dingsheng) [1] Industry: Sodium Battery and Lithium Carbonate Key Points - **Lithium Carbonate Price Adjustment**: Following a price adjustment, there is a strong expectation for a new upward trend in lithium carbonate prices, with downstream procurement becoming more active after recent price drops [2] - **Wind Power Sector Performance**: The wind power sector has seen numerous earnings forecasts that fell short of expectations due to a decline in Q4 shipment volumes and year-end impairments, indicating a confirmed bottom for the main engine sector [2] - **Investment Recommendations**: Recommended stocks include Jinlei Co., Daikin Heavy Industries, and major turbine manufacturers (Goldwind, SANY, Yunda, Mingyang) [2] Industry: Photovoltaics Key Points - **Space Photovoltaics**: SpaceX's application to deploy 1 million satellites to create a space data center reinforces the logic behind space photovoltaics [3] - **Cost Reduction in Battery Production**: The high price of silver and technological breakthroughs have led to an average cost reduction of over 0.15 CNY/W in copper-based batteries, indicating a potential explosion in the no-silver production sector [3] - **Investment Focus in Photovoltaics**: The preferred investment hierarchy includes equipment manufacturers (Liancheng, Lap, Maiwei, Yujing) and battery and auxiliary material producers (Bojian, Foster, Kaisheng, Juhua, Dike, Risheng, Junda) [3] Industry: AIDC (Artificial Intelligence Data Center) Key Points - **New Bidding Round**: The domestic supply chain is entering a new round of bidding, with ByteDance shifting its bidding focus to high-voltage direct current solutions [3] - **NVIDIA Certification**: NVIDIA's GB300 liquid cooling certification is tightening, which may lead future investments to focus on core components and ASIC overflow [3] - **Increased Production Capacity**: The production capacity of Yingweike's QD is expected to increase by 20 times in Q1, strengthening ties with the NVIDIA ecosystem [3]

私募开年密集调研 机构2026年进攻方向，或可从其1月调研路径窥得端倪。据私募排排网统计，1月有近660家私募参与A 股调研活动，合计调研频次超1700次。分行业来看，计算机、机械设备、医药生物和电子等板块备受关 注。在一些业内人士看来，尽管2025年科技板块整体涨幅显著，但从产业趋势和企业盈利情况来看，现 在远未行至"泡沫阶段"，尤其是半导体和AI应用值得重点挖掘。 私募排排网最新统计数据显示，2026年1月共有659家私募参与A股公司调研活动，覆盖了28个申万一级 行业中的332只标的，合计调研频次达1719次。 1月16日，丹羿投资创始人朱亮则调研了通富微电。据公开资料，通富微电是集成电路封装测试服务提 供商，开源证券研究报告分析称，算力产业已开启"军备竞赛"，国产算力跨越式发展的背景下，本土AI 算力芯片蓬勃发展，相关产业链迎来发展窗口，通富微电有望深度受益。 AI基建与应用受关注 私募机构认为，在AI产业高速发展的过程中，机会将持续涌现，科技仍将是2026年不可忽视的投资主 线之一。 畅力资产董事长宝晓辉分析称，作为AI产业的基建，半导体设备领域值得关注。具体来看，当前AI行 业的发展逻辑已发生转变 ...

2026 年 2 月 1 日 电力设备新能源、环保 《关于完善发电侧容量电价机制的通知》出台 ——电新环保行业周报 20260201 电力设备新能源 买入（维持） 环保 买入（维持） 作者 分析师：殷中枢 执业证书编号：S0930518040004 010-58452071 yinzs@ebscn.com 分析师：郝骞 执业证书编号：S0930520050001 021-52523827 haoqian@ebscn.com 分析师：陈无忌 执业证书编号：S0930522070001 021-52523693 chenwuji@ebscn.com 分析师：和霖 执业证书编号：S0930523070006 021-52523853 helin@ebscn.com 分析师：邓怡亮 执业证书编号：S0930525070003 021-52523802 dengyiliang@ebscn.com 行业与沪深 300 指数对比图 -20% 0% 20% 40% 60% 80% 2025/1/30 2025/6/1 2025/10/1 2026/1/31 电力设备(申万) 环保(申万) 沪深300 资料来源：iFinD 要 ...