Group 1 - The core point of the article is that Mingyang Smart Energy announced an investor research meeting scheduled for January 19, 2026, where company representatives will engage with investors and address their inquiries [1] Group 2 - The meeting will be attended by the company's board secretary, Yao Xingcun, and investor relations manager, Yang Xiao, indicating a proactive approach to investor engagement [1]

4、面对铜等原材料价格上涨，在成本控制方面采取了哪些有效措施？ 公司始终秉承稳健经营理念，坚持精细化运营管理，提升运营效率和管理效能。公司 建立完善的供应链管理系统，与主要供应商通过合作共赢的模式，加强对供应链的管控， 不断提升企业盈利能力。公司将密切关注全球新能源经济形势及行业政策，继续落实降本 增效策略，结合自身技术优势提高成本效益。 投资者关系活动记录表 编号：2026-001 投资者关 系活动类 别 ☐ 特定对象调研 ☐ 分析师会议 ☐ 媒体采访 ☐ 业绩说明会 ☐ 新闻发布会 路演活动 ☐ 现场参观 ☐ 其他（请备注） 参与单位 名称及人 员姓名 景顺长城；泰康资产；鹏华基金；南方基金；国联民生证券等 时间 2026年1月19日 地点 线上交流 上市公司 接待人员 姓名 董事会秘书姚兴存、投资者关系经理杨逍 投资者关 系活动主 要内容介 绍 1、公司主要业务线发展情况。 作为领先的可再生能源领域智能化配电设备提供商，公司主要从事应用于可再生能源 （含风能、光伏、储能）、新型基础设施（含数据中心、智能电网）等领域的输配电及控 制设备的研发、生产和销售，以智能变压器、箱式变电站、智能成套开关设备为核心产 ...

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 ...

Core Viewpoint - The A-share market for smart grid stocks has shown significant strength, with multiple companies experiencing substantial gains following the announcement of a major investment plan by the State Grid Corporation of China [1] Group 1: Market Performance - Smart grid stocks collectively surged, with notable gains including: - Shuangjie Electric up over 17% - Electric Power Research Institute up over 15% - Hongxiang Co., Huasu Technology up over 10% - Several other companies including Hanlan Co., Dalian Electric Porcelain, and others hitting the daily limit up [1] - The overall market sentiment is positive, driven by strong investment forecasts and demand in the sector [1] Group 2: Investment Outlook - The State Grid Corporation has projected a fixed asset investment of 4 trillion yuan during the 14th Five-Year Plan, a 40% increase compared to the previous plan, with an average annual investment of 800 billion yuan, indicating a compound annual growth rate (CAGR) approaching double digits [1] - Investment will focus on the construction of a new power system, aiming to enhance cross-regional and cross-provincial transmission capacity by over 30% compared to the end of the previous plan [1] Group 3: Export Growth - The North American market is experiencing a surge in demand for power equipment driven by aging infrastructure and increased electricity needs from AI data centers, leading to a significant rise in delivery times for transformers and high-voltage cables [1] - From January to November 2025, China's exports of transformers, high-voltage switches, and wires and cables are expected to grow by 35.3%, 29.4%, and 22.9% year-on-year, respectively, indicating a strong international market presence [1]

Investment Rating - The report maintains a "Recommended" rating for several key companies in the power equipment and new energy sectors, including Ningde Times, Kodali, and others [5][6]. Core Insights - The power equipment and new energy sector saw a weekly increase of 0.79%, outperforming the Shanghai Composite Index, with the energy storage index showing the highest growth at 1.81% [1]. - The National Energy Administration projects a total electricity consumption of 10,368.2 billion kWh by 2025, representing a year-on-year growth of 5.0% [4][56]. - TCL Zhonghuan's strategic investment in a new energy company aims to enhance vertical integration in the photovoltaic industry, reducing costs and improving efficiency [3][37]. Summary by Sections 1. New Energy Vehicles - Hive Energy showcased three core technological breakthroughs at its sixth Battery Day, focusing on semi-solid technology, Dragon Scale 3.0 technology, and ion oscillation fast charging technology, all aimed at enhancing safety and performance [2][13][21]. 2. New Energy Generation - TCL Zhonghuan's acquisition of a new energy company is expected to optimize resources and enhance business synergy, facilitating a shift from low-level competition to value co-creation in the photovoltaic sector [3][37]. 3. Power Equipment and Industrial Control - The National Grid's "14th Five-Year Plan" anticipates a fixed asset investment of 4 trillion yuan, a 40% increase from the previous plan, to support the development of a new power system [4][56]. - The report highlights significant growth in electricity consumption across various sectors, with the service industry and residential electricity usage contributing 50% to the overall growth [4][56]. 4. Commercial Aerospace - Trina Solar set a new world record with a 886W per 3.1 m² perovskite/silicon tandem module, reinforcing its leadership in high-efficiency energy technology [5]. 5. Weekly Sector Performance - The energy storage index led the sector with a 1.81% increase, while the nuclear power index experienced the largest decline at 6.39% [1].

Investment Rating - The report indicates a positive outlook for the power equipment industry, particularly in the renewable energy sector, with significant investments and technological advancements expected to drive growth [1][2][4]. Core Insights - The report highlights that the State Grid's investment during the "14th Five-Year Plan" period is projected to reach 4 trillion yuan, marking a 40% increase compared to the previous plan [2]. - The report emphasizes the stability in polysilicon prices and the continuous rise in battery component prices, with N-type battery prices increasing to 0.40 yuan per watt [15][16]. - The report identifies three key areas of focus: supply-side reform leading to price increases in the industry chain, long-term growth opportunities from new technologies, and industrialization opportunities from perovskite GW-level layouts [16]. Summary by Sections 1. New Energy Generation 1.1 Photovoltaics - Polysilicon prices remain stable, while battery component prices are on the rise, with N-type battery prices reaching an average of 0.40 yuan per watt [15]. - The report notes that leading component companies are responding to industry self-discipline by raising component prices, with distributed sales prices reaching 0.72 yuan per watt [15][16]. - Key companies to watch include Tongwei Co., GCL-Poly, LONGi Green Energy, JA Solar, and Trina Solar [16]. 1.2 Wind Power & Grid - The UK AR7 offshore wind auction results exceeded expectations, with a total scale of approximately 8.4GW, validating the upward trend in European offshore wind [17]. - The State Grid's investment is expected to enhance transmission capacity significantly, addressing bottlenecks in renewable energy delivery [18]. - Companies to focus on include Goldwind, Yunda Wind Power, Mingyang Smart Energy, and Sany Heavy Energy [18]. 1.3 Hydrogen & Energy Storage - By 2025, the production and sales of fuel cell vehicles in China are projected to reach 7,797 units, reflecting a 44% year-on-year increase [20]. - The report anticipates that new energy storage installations will reach 58.6GW/175.3GWh by 2025, with significant growth expected in the energy storage sector [21]. - Key players in the hydrogen sector include Shuangliang Energy, Huadian Heavy Industries, and Shenghui Technology [20]. 2. New Energy Vehicles - Solid-state batteries are gaining traction, with several automakers making progress towards mass production by 2026 [29]. - Companies such as BYD, Changan Automobile, and Chery are expected to achieve significant milestones in solid-state battery technology [29]. - The report suggests monitoring companies like Xiamen Tungsten, Hailiang Co., and Nanjing Advanced Lithium Battery [29]. 3. Industry Trends - The report notes a 0.4% increase in the new energy equipment sector from January 12 to January 16, 2026, with a cumulative increase of 5.3% since the beginning of the year [12]. - The photovoltaic equipment sector saw a 3.52% increase, while the wind power equipment sector experienced a decline of 1.28% during the same period [13].

Core Insights - The successful delivery of a complete set of offshore core electrical equipment by the company marks a significant milestone, showcasing its capability in R&D, manufacturing, and system integration for large offshore booster platforms, transitioning from reliance on imports to full autonomy in this high-end equipment sector [1][2] - The delivery of high-value core equipment is expected to enhance the company's revenue and optimize its profit structure, opening up substantial growth opportunities for the listed company [1] - The project, being a key construction initiative in Guangdong and the first Sino-German cooperative offshore wind power project in China, has a total installed capacity of 500 megawatts, contributing to the development of a large offshore wind power base in western Guangdong [2] Company Strategy - The company emphasizes independent innovation as its core strategy, having recently achieved a significant breakthrough with its self-developed 110kV offshore wind power transformer, which has filled a domestic gap and is designed for deep-sea projects [3] - The company aims to continue iterating its product offerings to include higher voltage, larger capacity, and more environmentally friendly systems, thereby enhancing its market competitiveness and financial returns [3] - As the offshore wind power sector evolves towards larger, smarter, and deeper sea projects, the company's focus on self-controllable core processes is crucial for ensuring the security of the industrial chain [2]

Group 1 - The core viewpoint of the news is that Mingyang Electric has seen a stock price increase of 5.16%, reaching 47.70 CNY per share, with a total market capitalization of 14.892 billion CNY as of the report date [1] - Mingyang Electric, established on November 27, 2015, and listed on June 30, 2023, specializes in the research, production, and sales of power distribution and control equipment for the renewable energy and new infrastructure sectors [1] - The main revenue composition of Mingyang Electric includes: box-type substations (53.70%), transformers (16.36%), complete switchgear (14.76%), and other products (13.51%) [1] Group 2 - Among the top circulating shareholders of Mingyang Electric, a fund under Southern Fund, the Southern CSI 1000 ETF (512100), has entered the top ten shareholders, holding 1.4295 million shares, which is 0.89% of the circulating shares [2] - The Southern CSI 1000 ETF (512100) has a total scale of 76.63 billion CNY and has achieved a year-to-date return of 8.51%, ranking 1463 out of 5531 in its category [2] - The fund has a one-year return of 44.65%, ranking 1681 out of 4215 in its category, and a return of 24.1% since its inception [2]

1.主讲人：申万宏源承销保荐代表人孙奥 申万宏源证券承销保荐有限责任公司 关于广东明阳电气股份有限公司 2025年度持续督导培训情况报告 申万宏源证券承销保荐有限责任公司（以下简称"申万宏源承销保荐"或"保荐人"） 作为广东明阳电气股份有限公司（以下简称"明阳电气"、"公司"）首次公开发行股票 并在创业板上市的保荐人，根据《深圳证券交易所上市公司自律监管指引第13号—— 保荐业务》的相关规定，于2025年12月31日对明阳电气董事、高级管理人员及其他相 关人员进行了培训，具体情况如下： 一、培训情况 （一）培训时间与地点 1.培训时间：2025年12月31日 2.培训地点：明阳电气会议室 3.培训方式：现场会议 （二）培训主讲人及培训对象 2.培训对象：公司董事、高级管理人员、证券事务代表、董秘办人员、财务人员 等中高层管理人员 （三）培训内容 本次培训内容主要为上市公司规范运作，本次培训涉及的主要法律法规及相关规 定包括《中华人民共和国公司法》《中华人民共和国证券法》《首次公开发行股票注 册管理办法》《上市公司证券发行注册管理办法》《上市公司信息披露管理办法》 《深圳证券交易所创业板股票上市规则（2025年 ...

申万宏源证券承销保荐有限责任公司 关于广东明阳电气股份有限公司 2025年度现场检查报告 | 保荐人名称：申万宏源证券承销保荐有限责任公司 | 被保荐公司简称：明阳电气 | | | --- | --- | --- | | 保荐代表人姓名：孙奥 联系电话：0755-23996949 | | | | 保荐代表人姓名：孙吉 联系电话：0755-23996949 | | | | 现场检查人员姓名：孙奥 | | | | 现场检查对应期间：2025年1月至2025年12月 | | | | 现场检查时间：2025年12月31日 | | | | 一、现场检查事项 现场检查意见 | | | | （一）公司治理 是 不适用 | | 否 | | 现场检查手段：1.查阅公司章程和公司治理相关制度；2.查阅三会文件及相关决议， | | | | 核查其执行情况；3.核查董监高人员变动及相关决策文件；4.核查控股股东、实际控 | | | | 制人的变动情况及其对外投资情况 | | | | 1.公司章程和公司治理制度是否完备、合规 √ | | | | 2.公司章程和三会规则是否得到有效执行 √ | | | | 3.三会会议记录是否完整，时间 ...