Core Viewpoint - Yingjie Electric experienced a decline of 5.17% on November 28, with a stock price of 56.00 yuan per share and a trading volume of 392 million yuan, resulting in a total market capitalization of 12.411 billion yuan [1] Group 1: Company Overview - Yingjie Electric, established on January 16, 1996, is located at 686 Jinsha River West Road, Deyang City, Sichuan Province [1] - The company was listed on February 13, 2020, and specializes in the research, production, and sales of industrial power supply equipment, particularly power control power supplies and special power supplies [1] Group 2: Revenue Composition - The revenue composition of Yingjie Electric is as follows: power control devices and systems account for 61.71%, power modules and systems for 28.37%, and other sources for 9.84%, with a negligible 0.08% from supplementary sources [1] Group 3: Fund Holdings - According to data, one fund under China Merchants Fund holds a significant position in Yingjie Electric, specifically the China Merchants Ruihe 1-Year Holding Period Mixed A Fund (011397), which held 4,600 shares, representing 0.59% of the fund's net value, making it the eighth largest holding [2] - The fund's latest scale is 26.4318 million yuan, with a year-to-date return of 4.04%, ranking 7166 out of 8156 in its category, and a one-year return of 5.09%, ranking 6454 out of 8062 [2] - Since its inception, the fund has achieved a return of 15.74% [2]

Core Viewpoint - Yingjie Electric experienced a decline of 5.17% on November 28, with a stock price of 56.00 yuan per share and a total market capitalization of 12.411 billion yuan [1] Company Overview - Yingjie Electric, established on January 16, 1996, is located at 686 Jinsha West Road, Deyang, Sichuan Province. The company was listed on February 13, 2020. Its main business involves the research, production, and sales of industrial power supply equipment, particularly power control power supplies and special power supplies [1] - The revenue composition of Yingjie Electric is as follows: power control devices and systems account for 61.71%, power supply modules and systems for 28.37%, and other sources for 9.84% [1] Fund Holdings - According to data from the top ten holdings of funds, one fund under Chuangjin Hexin holds a significant position in Yingjie Electric. The Chuangjin Hexin Specialized and Innovative Stocks Initiation A (014736) held 302,100 shares in the third quarter, representing 4.95% of the fund's net value, making it the ninth-largest holding [2] - The fund has reported a floating loss of approximately 921,400 yuan as of the current date [2] Fund Performance - The Chuangjin Hexin Specialized and Innovative Stocks Initiation A (014736) was established on January 26, 2022, with a current scale of 107 million yuan. Year-to-date returns are at 37.76%, ranking 863 out of 4206 in its category. Over the past year, returns are 26.84%, ranking 1451 out of 4008, and since inception, the fund has achieved a return of 53.17% [2]

（文章来源：证券日报） 证券日报网讯英杰电气11月24日在互动平台回答投资者提问时表示，截至2025年11月20日，公司股东总 户数为19043户。 ...

Group 1 - A-shares indices turned positive in the afternoon of November 24, with the ChiNext New Energy ETF (159368) rising by 1% and most stocks showing gains, indicating a broad market rally [1] - The ChiNext New Energy ETF (159368) saw a net inflow of over 30 million yuan in the last three days and over 70 million yuan in the last five days, with a trading volume exceeding 45.13 million yuan, making it the largest in its category [1] - The Chinese Academy of Sciences launched the "Controlled Nuclear Fusion" international scientific program, aiming to build the BEST device by the end of 2027, which will conduct deuterium-tritium combustion experiments and demonstrate power generation [1] Group 2 - The acceleration of controllable nuclear fusion engineering is expected to benefit sectors such as pulse energy storage, superconducting materials, and specialty capacitors, while traditional energy storage and lithium battery chains may see limited short-term benefits [2] - The ChiNext New Energy ETF (159368) is the largest ETF tracking the ChiNext New Energy Index, which includes various segments of the new energy and electric vehicle industries, with a significant focus on batteries and photovoltaics [2] - The ETF has a 59% allocation to energy storage and a 32% allocation to solid-state batteries, aligning with current market trends, and has the lowest fees in its category, with a total management and custody fee of only 0.2% [2]

Core Points - The company, Yingjie Electric, has successfully obtained CNAS certification for its laboratory, indicating that it meets national and international standards in management systems, testing capabilities, technical levels, and personnel quality [1][3] - CNAS is the only authorized body in China that can issue national laboratory accreditations, making it a key authority in laboratory recognition [2] - The certification enhances the authority and credibility of the company's testing reports, which are recognized both nationally and internationally, thereby strengthening the company's brand credibility and market competitiveness [3] Summary by Categories - **Certification Achievement** - Yingjie Electric's laboratory has passed the expert on-site review by CNAS and received certification, confirming its compliance with recognized standards [1] - **Authority of CNAS** - CNAS is the sole national body authorized to grant laboratory accreditations in China, establishing its role as a critical authority in laboratory recognition [2] - **Impact on Company and Industry** - The certification is a significant acknowledgment of the laboratory's professional capabilities, laying a solid foundation for enhancing the company's brand credibility and market competitiveness [3] - The laboratory will continue to follow CNAS guidelines, optimize its management system, and improve technical levels to support product development and contribute to high-quality industry growth [3]

Market Overview - The other power equipment sector declined by 1.59% on the previous trading day, with Haibosi leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Individual Stock Performance - Keda (002518) saw a closing price of 46.89 with an increase of 3.49% and a trading volume of 175,200 shares, totaling 825 million yuan [1] - Hu塑科技 (301157) closed at 53.10, up 3.27%, with a trading volume of 17,200 shares, amounting to 90.99 million yuan [1] - Other notable performances include Yingjie Electric (300820) at 58.29, up 0.50%, and Youyou Green Energy (301590) at 182.55, up 0.41% [1] - Conversely, Haibosi (688411) experienced a significant drop of 10.86%, closing at 322.00 with a trading volume of 66,700 shares, totaling 2.213 billion yuan [2] - Other stocks like Hailu Chading (002255) and Aotexun (002227) also faced declines of 9.96% and 5.61%, respectively [2] Capital Flow Analysis - The other power equipment sector experienced a net outflow of 1.08 billion yuan from main funds, while retail investors saw a net inflow of 472 million yuan [2][3] - Notable net inflows from retail investors were observed in stocks like Jintai Technology (002951) with 704.14 million yuan, while Keda (002518) saw a net outflow of 732.7 million yuan from retail investors [3] - The main funds showed a net inflow in stocks like Magmet (002851) with 96.64 million yuan, while other stocks like Shenghong Co. (300693) had a net outflow of 68.73 million yuan from main funds [3]

Core Viewpoint - The company emphasizes that its power products are widely used across various industries, and the monthly and quarterly operational data may exhibit volatility, making it challenging to accurately reflect the overall business performance [2]. Summary by Categories - **Company Operations** - The company will ensure the objectivity and completeness of information disclosure by combining annual and semi-annual comprehensive operational data [2]. - Relevant industry operational information will be disclosed in the annual and semi-annual reports [2]. - **Industry Context** - The operational data across different time frames (monthly and quarterly) may not fully represent the company's overall operational status due to inherent fluctuations [2].

Core Viewpoint - The company, Yingjie Electric (300820), reported that as of November 10, 2025, the total number of shareholders is 21,056 [1] Summary by Category - **Company Information** - Yingjie Electric has a total of 21,056 shareholders as of the specified date [1]

Core Insights - The report highlights the growth and changes in electricity generation in Sichuan Province, with a total generation of 571.4 billion kWh in September 2025, marking a year-on-year increase of 6% [1] - The cumulative electricity generation from January to September 2025 reached 3936.6 billion kWh, showing a slight year-on-year growth of 0.5% [1] Generation Breakdown - In the first nine months of 2025, thermal power generation was 703.2 billion kWh, accounting for 17.9% of total generation, which represents a year-on-year decline of 4.1% [1] - Hydropower generation stood at 3007.6 billion kWh, making up 76.4% of the total, with a year-on-year increase of 1.1% [1] - Wind power generation was recorded at 130.1 billion kWh, contributing 3.3% to the total, experiencing a year-on-year decrease of 10.4% [1] - Solar power generation reached 95.7 billion kWh, representing 2.4% of the total, with a significant year-on-year growth of 50.3% [1] Industry Context - The report is part of a broader analysis by Zhiyan Consulting, which provides insights into the energy sector in China from 2026 to 2032, focusing on market research and investment prospects [1][2] - The data is sourced from the National Bureau of Statistics and is based on large-scale industrial enterprises with annual main business revenues of 20 million yuan or more [2]

Core Insights - The latest financing balance of the ChiNext market is 525.968 billion yuan, with a week-on-week decrease of 0.203 billion yuan, while 34 stocks saw a financing balance increase of over 10% [1] - On November 12, the ChiNext index fell by 0.39%, and the total margin balance for ChiNext stocks decreased by 0.236 billion yuan compared to the previous trading day [1] - Among the stocks with increased financing balances, Zhonglai Co., Ltd. had the highest increase of 24.85%, with a financing balance of 306 million yuan and a stock price increase of 4.36% [1][3] Financing Balance Overview - The total margin balance for ChiNext stocks is 527.822 billion yuan, with a financing balance of 525.968 billion yuan and a securities lending balance of 1.854 billion yuan [1] - A total of 376 stocks experienced an increase in financing balance, with 34 stocks showing an increase of over 10% [1] - The average increase for stocks with over 10% financing balance growth was 1.86%, with 20 stocks rising, including Kexiang Co., Ltd. which hit the daily limit [1] Stocks with Increased Financing Balance - Zhonglai Co., Ltd. (300393): Financing balance of 305.5289 million yuan, increase of 24.85%, closing price of 8.37 yuan, increase of 4.36% [3] - Yingjie Electric (300820): Financing balance of 289.1718 million yuan, increase of 22.11%, closing price of 55.69 yuan, decrease of 2.26% [3] - Aok Co., Ltd. (300082): Financing balance of 207.8706 million yuan, increase of 20.86%, closing price of 12.46 yuan, increase of 8.92% [3] Stocks with Decreased Financing Balance - Qing Shui Yuan (300437): Financing balance of 97.1295 million yuan, decrease of 27.41%, closing price of 17.12 yuan, decrease of 9.89% [4] - Tianyi Medical (301097): Financing balance of 51.7204 million yuan, decrease of 24.51%, closing price of 65.30 yuan, increase of 11.34% [4] - Southeast Electronics (301359): Financing balance of 28.9730 million yuan, decrease of 18.20%, closing price of 20.62 yuan, increase of 1.48% [4]