►盘后公告 2连板钧达股份：钙钛矿光伏技术在太空极端环境下的综合成本效益仍有待验证，与参股公司星翼芯能 在太空光伏方面未签订正式业务协议； 奥特维：目前"太空光伏"尚处初期探索和研发阶段，相关预期性利好对公司实际经营业绩的影响具有较 大不确定性； ►互动平台回应 中来股份：未来光伏产品应用拓展至太空等多元化场景是行业趋势，已经在积极推进适配不同场景的产 品自主研发或联合开发； 万润股份：钙钛矿光伏材料已实现供应，理论上可应用于太空钙钛矿太阳能翻板电池； 拓日新能：公司的晶硅电池产品在多年前曾供应过商业卫星使用，未来公司也将继续关注不同的光伏应 用场景； 光伏板块今日全线爆发，太空光伏方向掀涨停潮。其中，A股钧达股份收获2连板，港股钧达股份大涨 超51%，公司于盘后发布公告回应相关业务情况。此外，据不完全梳理，近期有十余家上市公司就太空 光伏相关业务布局在互动平台回应投资者关切。 阿特斯：在HJT和钙钛矿叠层等光伏电池技术方面有扎实的技术储备，具备HJT产品的批量化生产和交 付经验。太空光伏发展前景广阔，公司会持续跟踪商业航天市场机遇； 天合光能：在太空光伏相关的晶体硅电池（HJT等）、钙钛矿叠层电池、III- ...

Market Performance - The other power equipment sector increased by 1.3% compared to the previous trading day, with KOTAI Power leading the gains [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] Individual Stock Performance - KOTAI Power (300153) closed at 37.13, up 11.20% with a trading volume of 690,500 shares and a transaction value of 2.457 billion [1] - China Power (600482) closed at 27.18, up 7.30% with a trading volume of 687,200 shares [1] - Rongfa Nuclear Power (002366) closed at 8.35, up 3.21% with a trading volume of 1,331,600 shares [1] - Other notable stocks include Shanghai Electric (601727) which closed at 9.38, up 2.29% with a trading volume of 3,579,000 shares [1] Capital Flow Analysis - The other power equipment sector saw a net inflow of 362 million in main funds, while retail investors experienced a net outflow of 351 million [2][3] - KOTAI Power had a main fund net inflow of 429 million, representing 17.44% of its trading volume [3] - Rongfa Nuclear Power recorded a main fund net inflow of 106 million, accounting for 9.57% of its trading volume [3]

（文章来源：证券日报） 证券日报网讯 1月21日，英杰电气在互动平台回答投资者提问时表示，公司核心竞争力为非标定制化电 源研发制造，订单节奏取决于下游资本开支与需求。 ...

Market Performance - The other power equipment sector increased by 2.8% compared to the previous trading day, with Haibo Sichuang leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Individual Stock Performance - Haibo Sichuang (688411) closed at 278.50, up 11.07% with a trading volume of 77,000 shares and a transaction value of 2.038 billion [1] - Maigemeite (002851) closed at 106.50, up 8.50% with a trading volume of 338,200 shares and a transaction value of 3.537 billion [1] - Yingjie Electric (300820) closed at 59.00, up 8.46% with a trading volume of 125,300 shares and a transaction value of 722 million [1] - Other notable stocks include Dongfang Electric (600875) up 5.91% and Xifeng Energy (300593) up 5.25% [1] Capital Flow Analysis - The other power equipment sector saw a net inflow of 385 million from institutional investors, while retail investors experienced a net outflow of 13.51 million [2] - The main stocks with significant capital inflow include Maigemeite with 254 million and Haibo Sichuang with 168 million [3] - Retail investors showed a net outflow in several stocks, including Maigemeite and Haibo Sichuang, indicating a shift in investor sentiment [3]

1月19日突破五日均线个股乖离率排名 | 301291 | 明阳电 | 9.98 | 15.76 | 47.07 | 50.35 | 6.97 | | --- | --- | --- | --- | --- | --- | --- | | | 气 | | | | | | | 002628 | 成都路 | 10.02 | 7.77 | 4.21 | 4.50 | 6.94 | | | 桥 | | | | | | | 300820 | 英杰电 气 | 8.46 | 11.22 | 55.21 | 59.00 | 6.87 | | 002851 | 麦格米 特 | 8.50 | 7.39 | 99.70 | 106.50 | 6.82 | （文章来源：证券时报网） | 证券代 | 证券简 | 今日涨跌幅 | 今日换手率 | 五日均线 | 最新价 | 乖离率 | | --- | --- | --- | --- | --- | --- | --- | | 码 | 称 | （%） | （%） | （元） | （元） | （%） | | 300444 | 双杰电 | 20.00 | 39.16 | 13.24 | 14.8 ...

Group 1 - The A-share market experienced fluctuations on January 19, with the ChiNext New Energy ETF Huaxia (159368) slightly declining by 0.26% in the afternoon [1] - Notable stock performances included Taisheng Wind Power rising by 13.19%, Maiwei Co. increasing by 9.61%, Yingjie Electric gaining 8.07%, and Dier Laser up by 4.91% [1] - The ChiNext New Energy ETF Huaxia (159368) has seen a net inflow of over 51 million yuan in the past five days, with a trading volume of 99.48 million yuan, making it the largest in its category [1] Group 2 - On January 16, six departments, including the Ministry of Industry and Information Technology and the National Development and Reform Commission, released a temporary management measure for the recycling and comprehensive utilization of used power batteries for new energy vehicles, effective from April 1, 2026 [1] - The core of the new regulation emphasizes a "vehicle-battery integrated scrapping" system, aiming to establish a management system covering "all channels, all chains, and all life cycles" and to introduce a "digital identity" for power batteries [1] - According to research institutions, it is estimated that by 2030, the amount of used power batteries generated in China will exceed 1 million tons, highlighting the need for a structured recycling system [1] Group 3 - The ChiNext New Energy ETF Huaxia (159368) is the largest ETF fund tracking the ChiNext New Energy Index, which includes various sectors such as batteries and photovoltaics [2] - The fund has high elasticity, with a potential increase of up to 20%, and the lowest fee rate, with a combined management and custody fee of only 0.2% [2] - As of December 30, 2025, the fund's scale is projected to reach 676 million yuan, with an average daily trading volume of 70.75 million yuan over the past month [2]

Group 1 - The core viewpoint of the news is that Yingjie Electric has seen a 5% increase in stock price, reaching 57.12 yuan per share, with a total market capitalization of 12.697 billion yuan [1] - Yingjie Electric, established on January 16, 1996, specializes in the research, production, and sales of industrial power supply equipment, particularly power control power supplies and special power supplies [1] - The company's main business revenue composition includes power control devices and systems (61.71%), power modules and systems (28.37%), and other sources (9.84%) [1] Group 2 - From the perspective of fund holdings, one fund under Chuangjin Hexin has a significant position in Yingjie Electric, holding 302,100 shares, which accounts for 4.95% of the fund's net value [2] - The fund, Chuangjin Hexin Specialized and New Stocks Initiation A (014736), has achieved a year-to-date return of 18.19% and a one-year return of 85.91% [2] - The fund manager, Wang Xianwei, has been in position for 4 years and 329 days, with the fund's total asset scale at 419 million yuan [3]

Core Viewpoint - The industrial control power supply industry is experiencing significant growth driven by the accelerated automation and intelligence transformation in manufacturing, with the market size expected to increase from 115.44 billion yuan in 2015 to 462.12 billion yuan in 2024, representing a compound annual growth rate (CAGR) of 16.7% [1][9]. Group 1: Industry Overview - Industrial control power supplies are specialized devices that convert mains electricity or other power sources into stable direct current suitable for industrial control equipment, characterized by high stability, reliability, and durability [5][6]. - The working principle of industrial control power supplies involves power conversion technologies, including rectification, filtering, voltage regulation, and output [5]. Group 2: Industry Chain - The upstream materials for the industrial control power supply industry include power devices, electronic components, and various metal and mechanical materials, which directly affect the performance and cost of midstream products [5]. - The downstream applications encompass sectors such as machinery manufacturing, power systems, transportation, and petrochemicals, where industrial control power supplies provide stable power support for various control devices, sensors, and actuators [6]. Group 3: Current Industry Status - The power supply industry in China has maintained rapid growth, with the market size reaching 517.4 billion yuan in 2022, a year-on-year increase of 32.3%, and is projected to continue growing to 770.2 billion yuan in 2024 [8][9]. - The demand for industrial automation has surged due to rising labor costs and the need for higher product quality, driving the growth of the industrial control power supply market [9]. Group 4: Competitive Landscape - Domestic companies like Yingjie Electric and Dongfang Sitong are rapidly catching up to international standards, effectively meeting downstream equipment demands and gradually replacing imported products [11]. - The industry still has many small and medium-sized enterprises that primarily serve sectors with lower precision and performance requirements, relying on cost competition to maintain market share [11]. Group 5: Development Trends - Emerging industries such as photovoltaics and rare earth materials are driving the upgrade of the industrial control power supply industry, leading to increased demand for high-quality products [13]. - The industry is expected to shift towards digitalization, with mainstream products evolving from analog-digital combinations to fully digital, modular, intelligent, and programmable solutions [13][14]. - The concentration of the industry is anticipated to increase, with market resources shifting towards leading enterprises that possess economies of scale and technological innovation advantages [15].

Investment Rating - The industry investment rating is "Positive" (maintained) [6] Core Insights - The report highlights accelerated integration in the US fusion industry, with frequent technological breakthroughs and a continuous strengthening of the "engineering" logic [1] - International cooperation is advancing, with significant policy support at both national and international levels, emphasizing the strategic urgency of major economies in seizing future energy dominance [1][13][17] - The report notes substantial progress in various technological pathways, particularly in Tokamak device construction and other fusion technology routes, indicating a robust trajectory towards commercialization [2][19][25] Policy Insights - National policies are increasingly supportive of fusion energy, with the Chinese government explicitly including fusion technology in its "14th Five-Year Plan" [1][11] - A cooperation agreement between China and France has been established, marking a new phase in international collaboration on fusion technology [13][14] - South Korea has advanced its fusion energy goals by moving the timeline for fusion power generation from the 2050s to the 2030s, highlighting the urgency among global economies [17][18] Industry Developments - Significant advancements in Tokamak devices include the completion of key plasma control coils for the JT-60SA, which is set to facilitate high-parameter experiments in 2026 [2][19] - The CRAFT facility has successfully passed its first performance test, confirming that its core components meet design specifications [21] - China's ITER project has officially commenced mass production of its first wall components, a critical step in the development of fusion reactors [22] Capital Market Activity - The US fusion industry is experiencing rapid consolidation, with notable mergers such as Trump Media and Technology Group's acquisition of TAE Technologies, which is set to launch the world's largest commercial fusion power plant [3][27][29] - Initial public offerings and significant funding rounds for startups in the fusion sector are on the rise, indicating growing investor confidence in fusion technology [3][33][36] Investment Recommendations - The report suggests focusing on midstream equipment companies such as Lianchuang Optoelectronics, Xuguang Electronics, and others, as well as upstream material suppliers like Yongding Co. and West Superconducting [4][37]

Core Viewpoint - Yingjie Electric (300820) has commenced production at its Chengdu facility, which is equipped with sufficient capacity to meet current customer orders and support future business expansion [1] Group 1: Production Capacity - The Chengdu production base has adequate capacity reserves to fully cover and satisfy existing customer order demands [1] - The company has established a specialized RF power production workshop in the Deyang facility, creating a complementary production layout between Chengdu and Deyang [1]