Core Viewpoint - 佛燃能源's stock price has shown fluctuations in recent trading sessions, with a year-to-date increase of 4.69% but a recent decline of 3.92% over the last five trading days [2] Financial Performance - For the period from January to September 2025, 佛燃能源 achieved a revenue of 23.501 billion yuan, representing a year-on-year growth of 5.38% [3] - The net profit attributable to shareholders for the same period was 490 million yuan, reflecting a year-on-year increase of 6.07% [3] Stock Market Activity - As of November 18, 佛燃能源's stock price was 12.73 yuan per share, with a market capitalization of 16.529 billion yuan [1] - The stock has experienced a net outflow of 5.2728 million yuan in principal funds, with large orders accounting for 8.54% of total buying and 21.72% of total selling [1] Shareholder Information - As of November 10, the number of shareholders for 佛燃能源 was 28,000, a decrease of 3.45% from the previous period [3] - The average circulating shares per person increased by 3.57% to 45,336 shares [3] Dividend Distribution - 佛燃能源 has distributed a total of 3.088 billion yuan in dividends since its A-share listing, with 1.645 billion yuan distributed over the last three years [4] Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited was the sixth largest circulating shareholder, holding 7.1451 million shares, an increase of 2.5514 million shares from the previous period [4]

Core Viewpoint - HeMai Co., Ltd. experienced a stock price decline of 2.06% on November 18, with a current price of 112.18 CNY per share and a total market capitalization of 13.919 billion CNY [1] Group 1: Stock Performance - Year-to-date, HeMai's stock price has increased by 2.48%, with a recent 5-day decline of 2.24% and a 20-day increase of 4.86% [2] - As of September 30, the number of shareholders increased by 3.82% to 10,200, with an average of 12,134 circulating shares per person, a decrease of 3.68% [2] Group 2: Financial Performance - For the period from January to September 2025, HeMai reported a revenue of 1.323 billion CNY, reflecting a year-on-year growth of 4.57%, while the net profit attributable to shareholders was a loss of 59.115 million CNY, a decrease of 124.07% year-on-year [2] - The company has distributed a total of 1.306 billion CNY in dividends since its A-share listing, with 1.186 billion CNY distributed over the past three years [3] Group 3: Business Overview - HeMai Co., Ltd. specializes in the research, development, manufacturing, and sales of power conversion equipment, including photovoltaic inverters and energy storage inverters [2] - The company's revenue composition includes micro-inverters and monitoring equipment (44.39%), photovoltaic power generation systems (34.92%), energy storage systems (18.70%), and other sources (1.68%) [2] - HeMai is categorized under the Shenwan industry classification of electric power equipment, specifically photovoltaic equipment and inverters, and is associated with concepts such as mid-cap, photovoltaic glass, energy storage, solar energy, and specialized new [2]

Core Viewpoint - Tianyang New Materials experienced a stock price decline of 2.02% on November 18, with a current price of 8.23 CNY per share and a market capitalization of 3.561 billion CNY [1] Company Performance - Tianyang New Materials has seen a year-to-date stock price increase of 29.81%, with a recent decline of 3.97% over the last five trading days, a 7.30% increase over the last 20 days, and an 11.52% increase over the last 60 days [1] - For the period from January to September 2025, the company reported a revenue of 688 million CNY, a year-on-year decrease of 31.24%, while the net profit attributable to shareholders was -10.7916 million CNY, reflecting a year-on-year increase of 62.71% [2] Business Segmentation - The company's main business revenue composition includes: hot melt adhesives (42.28%), photovoltaic encapsulation film (32.55%), reactive adhesives (17.49%), hot melt wall cloth and curtains (4.92%), and other products (2.76%) [1] Shareholder Information - As of September 30, the number of shareholders for Tianyang New Materials was 16,600, a decrease of 6.65% from the previous period, with an average of 24,543 circulating shares per shareholder, an increase of 7.12% [2] Dividend Information - Since its A-share listing, Tianyang New Materials has distributed a total of 145 million CNY in dividends, with 34.31 million CNY distributed over the past three years [3]

Financial Data and Key Metrics Changes - For Q1 fiscal 2026, the company reported revenue of CAD 19.2 million, an increase of approximately 27% compared to CAD 15.1 million in the same period last year [10][12] - Development fee revenue for Q1 fiscal 2026 was CAD 3.4 million, a significant increase from zero in the prior year [10] - Gross margin improved to approximately 45% in Q1 fiscal 2026, up from 27% in the same quarter last year [11] - Net income for the quarter was around CAD 1 million or CAD 0.03 per basic share, compared to a net loss of CAD 26.5 million or CAD 0.87 per basic share in the same quarter of fiscal 2025 [12] Business Line Data and Key Metrics Changes - Revenue from EPC services increased by approximately 1% to CAD 11.9 million in Q1 fiscal 2026 [10] - Independent Power Producer (IPP) revenue grew to CAD 3.8 million, an 18% increase from CAD 3.3 million in the prior year [5][11] Market Data and Key Metrics Changes - The company is focusing on expanding its IPP portfolio and advancing its development pipelines, particularly in the U.S. and Canada [13][15] - The demand for battery storage is increasing, with the company shifting its marketing and sales activities towards battery storage project development [17][31] Company Strategy and Development Direction - The company aims to deliver a significant number of solar projects before the end of 2030, leveraging U.S. government guidance and incentives [16] - The company is entering the data center market and exploring environmentally friendly solutions for data centers powered by solar energy [19][20] - A strategic development agreement has been established with Intellistic Technologies to focus on AI and blockchain technologies [22] Management's Comments on Operating Environment and Future Outlook - The management acknowledges the challenges faced by the renewable energy industry but sees a clearer path forward due to recent government actions [15][16] - The company remains positive about the outlook for battery storage, citing increasing electricity prices and demand [31] Other Important Information - The company has secured contracts for community solar projects in Nova Scotia, Canada, and is developing a battery energy storage system in Ontario [7][8] - The company is also exploring a crypto treasury strategy using revenue from its solar assets [21] Q&A Session Summary Question: Factors driving the company's gross margin increase from 27% to 45% - The increase is attributed to effective management of field activities and procurement strategies, shifting from international to domestic content [25][26] Question: Delays impacting project timelines - Delays are primarily due to permitting issues and interconnection challenges, which are common across the battery energy sector [27][30] Question: Progress in monetizing and securing safe harbor for US pipelines - The company is focusing on project-specific long lead items to meet new guidelines and ensure timely project delivery [32]

Core Viewpoint - China Electric Motor experienced a decline in stock price by 2.03% on November 17, with a trading volume of 132 million yuan and a total market capitalization of 6.014 billion yuan [1] Financial Performance - For the period from January to September 2025, China Electric Motor achieved a revenue of 478 million yuan, representing a year-on-year growth of 11.36% [2] - The net profit attributable to shareholders for the same period was 39.215 million yuan, showing a significant year-on-year increase of 387.93% [2] Shareholder Information - As of September 30, 2025, the number of shareholders for China Electric Motor increased to 19,400, up by 39.57% from the previous period [2] - The average number of circulating shares per shareholder decreased by 28.35% to 12,143 shares [2] Dividend Distribution - Since its A-share listing, China Electric Motor has distributed a total of 544 million yuan in dividends, with 38.996 million yuan distributed over the past three years [3] Institutional Holdings - As of September 30, 2025, HSBC Jintrust Small Cap Stock Fund became the fifth largest circulating shareholder, increasing its holdings by 2.5637 million shares to 4.9115 million shares [3] - Hong Kong Central Clearing Limited entered as the seventh largest circulating shareholder with 2.6831 million shares [3] - New entrants among the top ten circulating shareholders include Da Cheng New Industry Mixed A and Da Cheng Industry Trend Mixed A [3]

Core Viewpoint - Rongsheng Petrochemical's stock price has shown a significant increase this year, with a notable rise in recent trading days, indicating positive market sentiment towards the company [2]. Group 1: Stock Performance - As of November 17, Rongsheng Petrochemical's stock price increased by 2.04%, reaching 11.02 CNY per share, with a trading volume of 295 million CNY and a turnover rate of 0.29% [1]. - The company's stock has risen by 23.06% year-to-date, with a 0.73% increase over the last five trading days, 17.48% over the last 20 days, and 19.52% over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Rongsheng Petrochemical reported a revenue of 227.81 billion CNY, a year-on-year decrease of 7.09%, while the net profit attributable to shareholders was 0.888 billion CNY, reflecting a year-on-year growth of 1.34% [2]. - The company has distributed a total of 9.4 billion CNY in dividends since its A-share listing, with 3.391 billion CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Rongsheng Petrochemical was 73,700, a decrease of 14.14% from the previous period, while the average circulating shares per person increased by 14.80% to 126,986 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 191 million shares, an increase of 17.06 million shares compared to the previous period [3].

Core Viewpoint - The stock of Beijing Jingyuntong Technology Co., Ltd. has experienced fluctuations, with a year-to-date increase of 40.33% but a recent decline of 4.68% over the past five trading days [1] Company Overview - Beijing Jingyuntong Technology Co., Ltd. was established on August 8, 2002, and listed on September 8, 2011. The company operates in high-end equipment manufacturing, photovoltaic power generation, new materials, and energy conservation and environmental protection [1] - The company's revenue composition includes: silicon wafers (36.93%), electricity (36.00%), silicon rods (16.94%), other (5.26%), denitration catalysts (4.84%), and equipment (0.03%) [1] Financial Performance - For the period from January to September 2025, the company reported revenue of 2.457 billion yuan, a year-on-year decrease of 37.55%. The net profit attributable to the parent company was -227 million yuan, showing an increase of 83.86% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 810 million yuan, with 31.39 million yuan distributed over the past three years [3] Shareholder Structure - As of September 30, 2025, the number of shareholders increased to 144,900, up by 11.26% from the previous period. The average circulating shares per person decreased by 10.12% to 16,667 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the third-largest shareholder with 18.3953 million shares, a decrease of 849,000 shares from the previous period. Other notable shareholders include various ETFs with fluctuating holdings [3]

Core Viewpoint - The stock of Igor Electric Co., Ltd. has experienced fluctuations, with a year-to-date increase of 61.97% but a recent decline of 10.08% over the past five trading days [1] Financial Performance - For the period from January to September 2025, Igor achieved a revenue of 3.808 billion yuan, representing a year-on-year growth of 17.41%. However, the net profit attributable to shareholders decreased by 15.38% to 178 million yuan [2] - Cumulative cash dividends since the A-share listing amount to 475 million yuan, with 308 million yuan distributed over the past three years [3] Shareholder Information - As of October 31, 2025, the number of Igor's shareholders decreased by 28.74% to 28,700, while the average circulating shares per person increased by 40.33% to 13,056 shares [2] - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 7.6861 million shares as a new shareholder [3] Stock Market Activity - As of November 17, Igor's stock price was 28.38 yuan per share, with a market capitalization of 12.008 billion yuan. The stock has seen a trading volume of 249 million yuan and a turnover rate of 2.31% [1] - Igor has appeared on the stock market's "Dragon and Tiger List" three times this year, with the most recent occurrence on November 7 [1]

Core Viewpoint - Dazhongnan's stock price has shown a significant increase of 54.44% year-to-date, despite a recent decline of 2.05% on November 17, indicating volatility in the market [1][2]. Company Overview - Zhejiang Dazhongnan Co., Ltd. was established on June 8, 2000, and listed on July 28, 2008. The company specializes in the research, production, and sales of plastic films and new materials [1]. - The main revenue composition includes BOPP (capacitor film) at 33.84%, BOPET film at 33.43%, optical film at 19.62%, and other products at 6.74%, with CPP film contributing 6.36% [1]. Financial Performance - For the period from January to September 2025, Dazhongnan reported operating revenue of 939 million yuan, a decrease of 3.83% year-on-year, while net profit attributable to shareholders increased by 158.98% to 12.06 million yuan [2]. - The company has distributed a total of 172 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Shareholder Information - As of November 10, 2025, the number of shareholders is 121,200, a decrease of 2.76% from the previous period, with an average of 15,495 circulating shares per person, an increase of 2.84% [2]. - Hong Kong Central Clearing Limited is the second-largest circulating shareholder, holding 14.65 million shares as a new shareholder [3]. Market Activity - On November 17, Dazhongnan's stock traded at 3.83 yuan per share, with a total market capitalization of 7.194 billion yuan. The trading volume was 132 million yuan, with a turnover rate of 1.83% [1]. - The stock has appeared on the "Dragon and Tiger List" eight times this year, with the most recent appearance on July 11, where it recorded a net buy of -13.87 million yuan [1].

Core Viewpoint - The stock of State Power Investment Corporation (电投产融) has experienced fluctuations, with a recent decline of 2.05%, while the company has shown an overall increase in stock price of 18.16% year-to-date [1][2]. Financial Performance - For the period from January to September 2025, the company reported a revenue of 3.65 billion yuan, a year-on-year decrease of 7.66%, and a net profit attributable to shareholders of 617 million yuan, down 19.20% year-on-year [2]. - Cumulative cash dividends since the company's A-share listing amount to 2.579 billion yuan, with 1.626 billion yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders is 111,200, a decrease of 22.25% from the previous period, while the average circulating shares per person increased by 28.62% to 48,427 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 26.486 million shares, an increase of 4.7503 million shares from the previous period [3]. Market Activity - The stock has been active in the market, appearing on the "龙虎榜" (a list of stocks with significant trading activity) four times this year, with the latest appearance on May 13, where it recorded a net purchase of 145 million yuan [1]. - The stock's trading volume on November 17 was 878 million yuan, with a turnover rate of 2.24% and a total market capitalization of 38.491 billion yuan [1].