8日晚间，本次重大资产重组架构落定，三大环节推动主业根本性转型。根据交易草案，电投产融拟以 151.08亿元的价格置出所持国家电投集团资本控股有限公司100%股权，与国家核电技术有限公司（下 称"国家核电"）所持国电投核能有限公司（下称"电投核能"）股权的等值部分进行置换。 对于151.08亿元与553.94亿元置入资产总价之间的差额402.86亿元，将由上市公司向国家核电及中国人 寿保险股份有限公司发行股份支付。同时，公司拟向不超过35名特定投资者募集配套资金不超过50亿 元，全部用于山东海阳核电站3、4号机组建设，形成"置换—收购—募资"的完整闭环。 12月8日晚间，国家电投集团产融控股股份有限公司（下称"电投产融"）发布《重大资产置换及发行股 份购买资产并募集配套资金暨关联交易报告书（草案）》的公告，详细披露了"资产置换+发行股份购 买资产+募集配套资金"的"三步走"转型战略。 根据方案，电投产融将彻底剥离金融业务，全面聚焦核能发电主业，有望成为国家电力投资集团有限公 司（下称"国家电投集团"）旗下核心核电运营资产整合平台。 交易完成后，股权结构将发生根本性变化：国家核电将以43.62%的持股比例成为上 ...

Core Viewpoint - The photovoltaic industry is experiencing a surge in demand due to a "rush to install" solar components, leading to price increases and supply shortages, which are expected to create opportunities within the industry [1][2]. Industry Overview - The photovoltaic sector is witnessing a significant increase in component demand driven by a surge in installations, with the photovoltaic 50 ETF (516880) rising by 1.11% [1]. - Supply-demand imbalances are causing manufacturers to "cancel orders" and request price hikes, indicating a potential for price volatility until late April [1]. - The distributed photovoltaic industry is rapidly developing under policy support, with new regulations aimed at enhancing project management and market participation [1]. Market Dynamics - The National Energy Administration has introduced measures to promote the development of distributed photovoltaic projects, which are expected to increase market participation and flexibility [1]. - The introduction of a producer payment model is anticipated to improve cash flow for waste incineration power generation projects, alleviating local financial pressures [1]. - The securitization of nuclear power assets is also expected to address funding gaps and enhance competitiveness in the nuclear sector [1]. Challenges and Outlook - The industry faces external challenges, including a U.S. investigation into specific photovoltaic components, which may impact export markets [2]. - Despite supply-demand imbalances and quality concerns, increased policy support is expected to boost market expectations and overall industry prospects [2]. - The photovoltaic industry is projected to see significant growth in the second half of the year, with optimistic expectations for terminal demand performance [2]. Investment Recommendations - The industry is advised to focus on four core areas: glass, battery cells, new technologies, and large storage, with particular attention to segments likely to benefit from increased component production [2].