Group 1: Photovoltaic Silicon Material Industry - The photovoltaic silicon material industry is expected to accelerate capacity consolidation, with the Ministry of Industry and Information Technology emphasizing the need for high-quality development in the solar industry [1] - By 2027, the industry is projected to enter a stable development phase, with significant advantages in the silicon material segment due to differences in capacity costs and financial strength among companies [1] - Key companies to watch include GCL-Poly Energy, Xinte Energy, Tongwei Co., and TBEA [1] Group 2: Solid-State Battery Industry - The solid-state battery industry is witnessing continuous advancements, with equipment from Winbond Technology successfully delivered to major domestic clients [2] - Material production is ramping up, with significant capacity in oxide electrolytes and expectations for sulfide electrolytes to achieve ton-level shipments by 2025 [2] - Companies of interest in this sector include Xiamen Tungsten, Tianqi Lithium, and others involved in the solid-state battery supply chain [2] Group 3: Offshore Wind Power Development - The central government is promoting the orderly development of offshore wind power, with a focus on enhancing the marine economy and encouraging private investment [3] - Goldwind Technology has secured over 7.7GW of international orders for 2024, with significant revenue growth reported for its international subsidiary [3] - Key players in the wind power sector include Goldwind Technology, Oriental Cable, and Dajin Heavy Industry [3] Group 4: Data Center Investment - Global data center investments are accelerating, with Amazon planning to invest AUD 20 billion (approximately USD 13.1 billion) in Australia and SK Telecom collaborating with Amazon Web Services for a significant data center project in South Korea [4] - The deployment of NVIDIA's GB300 AI systems is underway, indicating a growing demand for AI computing resources [4] - Companies to monitor in the AIDC power equipment sector include Jinpan Technology, Xinte Electric, and others [4] Group 5: Key Company Earnings Forecasts - The report provides earnings forecasts and investment ratings for several companies, with Goldwind Technology rated "Outperform" and projected to have an EPS of 1.28 in 2025 [5] - Jinpan Technology and other companies also received "Outperform" ratings, indicating positive market sentiment [5] Group 6: Industry Performance Overview - The electric power equipment sector outperformed the market in June, with a 6.68% increase compared to a 2.5% rise in the CSI 300 index [13] - The sector's PE ratio at the end of June was 30.3, reflecting a slight recovery in valuations [13] - The report highlights that the electric power equipment industry has shown strong performance across various sub-sectors, including lithium battery materials and wind power [23]

Macro Strategy - The report indicates that the US non-farm payrolls for June exceeded expectations, leading to a delay in interest rate cut expectations to September. The 10-year US Treasury yield rose by 6.89 basis points to 4.346% during the week [1][15][17] - The ISM services PMI returned above the expansion line, reflecting strong economic data, while the unemployment rate decreased, contributing to a positive market sentiment [1][15][17] - The signing of Trump's "One Big Beautiful Bill" (OBBB) increased the debt ceiling by $5 trillion to $41 trillion, which may lead to a "buy the rumor, sell the news" trading pattern [1][15][17] Fixed Income - In the week of June 30 to July 4, 12 green bonds were issued in the interbank and exchange markets, totaling approximately 34.961 billion yuan, an increase of 3.531 billion yuan from the previous week [4] - The secondary market saw a total trading volume of green bonds amounting to 56.2 billion yuan, a decrease of 17.3 billion yuan from the previous week [4] Industry Analysis Robotics and Automation - The report highlights that the human-like robot sector is entering a year of mass production, with supply chain adjustments and component innovations being crucial. Tesla's Musk has set a production target of 5,000 to 10,000 units for the year [7][8] - The report emphasizes the importance of component innovations such as dexterous hands and lightweight materials in enhancing robot capabilities [7][8] Insurance Industry - The insurance sector is expected to see improvements on both the liability and asset sides, with low valuations and low holdings providing a balanced risk-reward profile. The estimated valuation for the insurance sector is between 0.61-0.96 times PEV and 0.98-2.21 times PB, indicating historical lows [9] REITs - The report discusses the potential of REITs in a low-interest-rate environment, highlighting the importance of policy support and structural optimization to enhance investment value. The diversification of asset types is expected to accelerate, with new assets like data centers and wind power emerging [10] Engineering Machinery - The domestic engineering machinery market is at the beginning of an upward cycle, with a projected demand growth of 0-3% for the year. The report notes that the export market remains strong, contributing to high industry sentiment [11] Unmanned Forklift Industry - The report suggests that the unmanned forklift sector is poised for rapid growth driven by AI technology and smart logistics. It recommends investing in leading companies in the smart forklift space [12] Consumer Services - The analysis of consumer spending in China indicates that the overall consumption rate is low, with both service and goods consumption needing improvement. The service consumption rate in China was 21.1% in 2019, compared to an average of 28.4% across 43 countries [20][21]

Meeting Information - The first extraordinary general meeting of shareholders for 2025 is scheduled for July 25, 2025, at 14:00 [1] - The meeting will be held at the company's conference room located in Nanshan District, Shenzhen [1] - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange's network voting system [1] Voting Procedures - Shareholders can vote via the Shanghai Stock Exchange's network voting system, with specific time slots for voting on the meeting day [2] - There are no public solicitations for shareholder voting rights [2] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts [4] Attendance and Registration - Only shareholders registered by the close of trading on the equity registration date (July 18, 2025) are entitled to attend the meeting [5] - Registration for attendance can be done through various methods, including in-person and electronic means [5] - The registration period for the meeting is from 12:45 to 13:45 on July 25, 2025 [5] Additional Services - The company will utilize a reminder service to notify shareholders about the meeting and voting procedures via SMS [3] - In case of network congestion, shareholders can still vote through the original trading system [4] Contact Information - The contact person for the meeting is Ms. Cao, with a provided phone number for inquiries [6]

Market Overview - The Shanghai Composite Index fell by 0.13% on July 9, with 17 out of the 28 sectors rising, led by Media and Agriculture sectors, which increased by 1.35% and 0.65% respectively [1] - The Electric Equipment sector saw a slight increase of 0.17% [1] - The sectors with the largest declines were Non-ferrous Metals and Basic Chemicals, which dropped by 2.26% and 0.85% respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 38.536 billion yuan, with only three sectors experiencing net inflows: Media (1.055 billion yuan), Retail (864 million yuan), and Construction Decoration (40.34 million yuan) [1] - The Electronic sector had the largest net outflow, totaling 7.789 billion yuan, followed by Non-ferrous Metals with 5.412 billion yuan [1] Electric Equipment Sector Performance - In the Electric Equipment sector, 358 stocks were tracked, with 99 stocks rising and 252 stocks declining; 5 stocks hit the daily limit up [2] - The top net inflow stock was Ningde Times, with a net inflow of 378 million yuan, followed by Tongguan Copper Foil and Kelu Electronics with inflows of 219 million yuan and 178 million yuan respectively [2] - The sector experienced a total net outflow of 4.576 billion yuan, with 11 stocks seeing outflows exceeding 100 million yuan; the largest outflows were from Rongfa Nuclear Power, Sunshine Power, and Nord Shares, with outflows of 327 million yuan, 250 million yuan, and 226 million yuan respectively [2][3] Top Gainers in Electric Equipment Sector - The top gainers in the Electric Equipment sector included: - Ningde Times: +2.84%, turnover rate 0.75%, main capital flow 377.94 million yuan - Tongguan Copper Foil: +20.02%, turnover rate 48.19%, main capital flow 218.52 million yuan - Kelu Electronics: +10.06%, turnover rate 7.49%, main capital flow 178.39 million yuan [2] Top Losers in Electric Equipment Sector - The top losers in the Electric Equipment sector included: - Rongfa Nuclear Power: +0.42%, turnover rate 33.08%, main capital flow -327.43 million yuan - Sunshine Power: -0.57%, turnover rate 3.01%, main capital flow -249.65 million yuan - Nord Shares: -4.98%, turnover rate 14.04%, main capital flow -226.20 million yuan [3]

证券代码：603063 证券简称：禾望电气 公告编号：2025-065 | | 被担保人名称 | | 祁阳市博禾新能源有限公司（以下简称"祁阳博禾"） | | --- | --- | --- | --- | | | 本次担保金额 | 523,320,547.84 | 元 | | 担保对象 | 实际为其提供的担保余额 | 万元（不含本次） 0 | | | | 是否在前期预计额度内 | □是 否 | □不适用：_________ | | | 本次担保是否有反担保 | □是 否 | □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股子公 司对外担保总额（万元） | 628,387.98 | | 对外担保总额占上市公司最近一期经 审计净资产的比例（%） | 146.08 | | 50% 特别风险提示 | 对外担保总额超过最近一期经审计净资产 100% □担保金额超过上市公司最近一期经审计净资产 | | | □对合并报表外单位担保金额达到或超过最近一期 | | | 经审计净资产 30%的情况下 | | |  ...

证券代码：603063 证券简称：禾望电气 公告编号：2025-066 深圳市禾望电气股份有限公司 关于召开2025年第一次临时股东会的通知 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 7 月 25 日 14 点 00 分 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 股东会召开日期：2025年7月25日 本次股东会采用的网络投票系统：上海证券交易所股东大会网络投票系 统 一、 召开会议的基本情况 (一) 股东会类型和届次 2025年第一次临时股东会 (二) 股东会召集人：董事会 (三) 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相 结合的方式 二、 会议审议事项 召开地点：深圳市南山区西丽官龙村第二工业区 11 栋公司二楼会议室 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 7 月 25 日 至2025 年 7 月 25 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时 ...

证券代码：603063 证券简称：禾望电气 公告编号：2025-064 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、 监事会会议召开情况 1、深圳市禾望电气股份有限公司（以下简称"公司"）2025 年第四次临时 监事会会议（以下简称"本次会议"）的召开符合《中华人民共和国公司法》《上 海证券交易所股票上市规则》等相关法律、行政法规、规范性文件及《深圳市禾 望电气股份有限公司章程》的有关规定； 2、公司于 2025 年 7 月 7 日以电子邮件、电话等方式向监事发出监事会会议 通知； 3、本次会议于 2025 年 7 月 9 日以通讯方式召开； 4、本次会议应参会监事 3 名，实际参会监事 3 名； 深圳市禾望电气股份有限公司 5、本次监事会会议由监事会主席陈云刚先生主持。 二、 监事会会议审议情况 2025 年第四次临时监事会会议决议公告 特此公告。 深圳市禾望电气股份有限公司监事会 2025 年 7 月 10 日 （一）审议通过《关于下属控股公司开展融资租赁业务并为其提供担保的议 案》 表决结果：同意票3票，反对票0 ...

证券代码：603063 证券简称：禾望电气 公告编号：2025-063 深圳市禾望电气股份有限公司 2025 年第四次临时董事会会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、 董事会会议召开情况 1、深圳市禾望电气股份有限公司（以下简称"公司"）2025 年第四次临时 董事会会议（以下简称"本次会议"）的召开符合《中华人民共和国公司法》《上 海证券交易所股票上市规则》等相关法律、行政法规、规范性文件及《深圳市禾 望电气股份有限公司章程》的有关规定； 2、公司于 2025 年 7 月 7 日以电子邮件、电话等方式向董事发出董事会会议 通知； 5、本次会议由董事长韩玉先生主持，部分高级管理人员列席会议。 二、 董事会会议审议情况 （一）审议通过《关于下属控股公司开展融资租赁业务并为其提供担保的 议案》 表决结果：同意票5票，反对票0票，弃权票0票。 具体内容详见公司于上海证券交易所网站（www.sse.com.cn）披露的《深圳 市禾望电气股份有限公司关于下属控股公司开展融资租赁业务并为其提供担保 的公告》（公 ...

Core Viewpoint - Hezhong Electric has experienced a decline in stock price over six consecutive trading days, with a cumulative drop of -5.81% [1] Company Overview - Shenzhen Hezhong Electric Co., Ltd. (stock code: 603063) focuses on the research, production, sales, and service of new energy and electrical transmission products, including wind power generation products, photovoltaic products, energy storage products, hydrogen power products, power quality products, and electrical transmission products [1] - The company possesses complete independent development capabilities and testing platforms for large power electronic devices and monitoring systems [1] Fund Involvement - Two funds under Guotai Fund have entered the top ten shareholders of Hezhong Electric, both of which are new entries in the first quarter of this year. The funds are Guotai Valuation Advantage Mixed (LOF) A and Guotai Ju Xin Value Advantage Mixed A [1] - Guotai Valuation Advantage Mixed (LOF) A has a year-to-date return of 22.39%, ranking 334 out of 4529 in its category, while Guotai Ju Xin Value Advantage Mixed A has a year-to-date return of 11.06%, ranking 398 out of 2301 [1] Fund Manager Profiles - Wang Zhaoxiang, the fund manager for Guotai Valuation Advantage Mixed (LOF) A, has been with Guotai Fund since August 2014 and has held various positions including researcher and assistant fund manager. He has been the fund manager since June 21, 2022 [3][4] - Cheng Zhou, the fund manager for Guotai Ju Xin Value Advantage Mixed A, has extensive experience in the industry, having joined Guotai Fund in April 2004 and held multiple managerial roles in various funds [4] Company Background - Guotai Fund Management Co., Ltd. was established in March 1998, with its chairman being Zhou Xiangyong and general manager being Li Sheng. The company has three shareholders: China Jianyin Investment Co., Ltd. (60%), Assicurazioni Generali S.p.A. (30%), and State Grid Yingda International Holdings Group Co., Ltd. (10%) [5]

证券代码：603063 证券简称：禾望电气 公告编号：2025-062 公司将按照有关规定及时向中国证券登记结算有限责任公司上海分公司申 请办理限制行权相关事宜。 特此公告。 深圳市禾望电气股份有限公司董事会 2025 年 7 月 5 日 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据《上市公司股权激励管理办法》《深圳市禾望电气股份有限公司 2023 年股票期权激励计划》及中国证券登记结算有限责任公司上海分公司关于股票 期权自主行权的相关规定，结合深圳市禾望电气股份有限公司（以下简称"公 司"）2025 年半年度业绩预告及 2025 年半年度报告的披露计划，现对公司 2023 年股票期权激励计划第二期的行权时间进行限定，具体如下： 公司 2023 年股票期权激励计划授予的期权已于 2025 年 6 月 3 日进入第二 个行权期（期权代码：1000000365），行权期为 2025 年 6 月 3 日至 2026 年 4 月 16 日，目前尚处于行权阶段。 2023 年股票期权激励计划本次限制行权期为 2025 年 7 月 ...