Core Viewpoint - The article highlights the recent institutional research activities among listed companies, focusing on the performance of specific stocks and the strategic developments of key players in various industries. Group 1: Institutional Research Activities - A total of 223 listed companies received institutional research from December 1 to December 5, with only 30% of the researched stocks achieving positive returns during the week [3]. - Notable stocks that saw significant gains include Hai Xin Food, which rose nearly 32%, and others like Tongyu Communication, Jereh, and Kexiang, which increased by over 20% [4]. Group 2: Jereh's Strategic Developments - Jereh remains the most researched company, with 176 institutions participating in its December 2 research, resulting in a cumulative stock increase of 26.40% for the week [6]. - The company announced a sales contract for generator sets with a global AI giant, valued at over $100 million, marking a strategic upgrade in the North American market [8]. - Jereh aims to deepen its focus on data centers, industrial energy, and new power systems, emphasizing technological innovation and collaboration with clients [8]. Group 3: Tianhua New Energy's Growth - Tianhua New Energy hosted 76 institutional research sessions, with significant interest in its business areas, particularly lithium battery materials, which account for over 90% of its revenue [10]. - The company is set to receive an investment of over 2.6 billion yuan from CATL, making it the second-largest shareholder, which is expected to enhance its operational stability and growth potential [10][11]. Group 4: Three Gorges Tourism's Project Updates - Three Gorges Tourism engaged with 60 institutions, focusing on the progress of its inter-provincial cruise project, with the first two self-built cruise ships expected to operate by mid-2026 [13]. - The company has a low debt ratio of 18.81% as of Q3 2025, indicating strong financial health and the ability to self-fund project shortfalls [13]. Group 5: Dajin Heavy Industry's European Expansion - Dajin Heavy Industry received attention from 58 institutions, showcasing advancements in shipbuilding and overseas business expansion [15]. - The company has signed a contract worth approximately 1.339 billion yuan for a project with a leading European energy firm, expected to be delivered by 2027 [16]. - Dajin is focusing on enhancing its competitiveness in the European market by expanding its service offerings and local supply capabilities [16].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 本周（12月1日—12月5日）共有223家上市公司接待机构调研，从赚钱效应看，周内仅三成机构调研股 实现正收益。 其中海欣食品涨近32%，通宇通讯、杰瑞股份、科翔股份涨超20%，华伍股份、恒辉安防、豪声电子、 大金重工等个股涨超10%。 从热门调研标的来看，杰瑞股份（002353）本周仍是机构最关注公司，天华新能、三峡旅游、大金重 工、科翔股份、奥比中光、星源卓镁、福莱新材等9家公司获20家以上机构调研。 176家机构调研杰瑞股份 上周机构参与调研最多的杰瑞股份，本周依然位居机构关注榜首，周内共有176家机构参与其12月2日调 研，杰瑞股份本周累计上涨26.40%。参与调研机构涵盖境内外知名资管、保险、券商与基金，多家私 募与量化基金也参与。 11月28日，杰瑞股份在官网宣布称，公司全资子公司杰瑞敏电能源集团近日与全球AI行业巨头签署发 电机组销售合同，合同金额超1亿美元。本次签约不仅是杰瑞股份在北美市场的战略升级，更标志着杰 瑞股份在数据中心一体化能力建设上迈出关键一步。此次签约引来超百家机构关注，机构重点问及本次 订单的情况，以及该 ...

Group 1 - This week, 223 listed companies received institutional research, with only 30% of the researched stocks achieving positive returns, highlighting a mixed performance in the market [2] - Among the top-performing stocks, Hai Xin Food surged nearly 32%, while Tongyu Communication, Jereh, and Kexiang shares rose over 20% [2] - Jereh remains the most focused company by institutions, with 176 institutions participating in its research, leading to a cumulative increase of 26.40% in its stock price [3] Group 2 - Jereh's subsidiary signed a sales contract for power generation units worth over $100 million with a global AI industry giant, marking a strategic upgrade in the North American market [3] - The company aims to deepen its involvement in data centers, industrial energy, and new power systems, focusing on technological innovation and product iteration [4] Group 3 - Tianhua New Energy received attention from 76 institutions, particularly regarding its strategic investment from CATL, which will hold 13.54% of the company post-investment [5][6] - The company plans to expand its lithium salt production capacity from 16.5 million tons/year to 25-26 million tons/year to strengthen its market position [6] Group 4 - Sanxia Tourism engaged 60 institutions, discussing the progress of its inter-provincial cruise project, with the first cruise expected to be operational by June 2026 [7] - The company has a low debt ratio of 18.81% as of Q3 2025, indicating strong financial stability and no immediate plans for equity financing [7] Group 5 - Dajin Heavy Industry welcomed 58 institutions for research, showcasing advancements in shipbuilding and overseas business expansion [8] - The company has secured a contract worth approximately 1.339 billion yuan for a project with a leading European energy company, expected to be delivered by 2027 [8][9] - Dajin Heavy Industry is focusing on enhancing its competitiveness in the European market by expanding its service offerings and local supply capabilities [9]

从热门调研标的来看，杰瑞股份本周仍是机构最关注公司，天华新能（300390）、三峡旅游 （002627）、大金重工、科翔股份、奥比中光、星源卓镁（301398）、福莱新材（605488）等9家公司 获20家以上机构调研。 176家机构调研杰瑞股份 本周(12月1日—12月5日)共有223家上市公司接待机构调研，从赚钱效应看，周内仅三成机构调研股实 现正收益。其中海欣食品（002702）涨近32%，通宇通讯（002792）、杰瑞股份（002353）、科翔股份 （300903）涨超20%，华伍股份（300095）、恒辉安防（300952）、豪声电子、大金重工（002487）等 个股涨超10%。 在产能布局方面，天华新能表示，公司当前锂盐生产基地分布于四川宜宾、眉山及江西宜春三地，合计 产能16.5万吨/年。未来将根据市场需求变化择机扩产，目标锂盐总产能达到25万吨/年—26万吨/年，进 一步巩固行业头部地位。 三峡旅游介绍省际游轮项目进展 上周机构参与调研最多的杰瑞股份，本周依然位居机构关注榜首，周内共有176家机构参与其12月2日调 研，杰瑞股份本周累计上涨26.40%。参与调研机构涵盖境内外知名资管、保险、券 ...

国晓宁陶春燕聊城报道 鲁西新能源装备集团有限公司隶属于鲁西集团,是一家致力于天然气、氢能、特气等清洁能源装备制 造、安装、研发的公司,公司是中国交通运输协会天然气车船分会会员单位、中国技术监督情报协会气 瓶安全标准化与信息工作委员会理事单位、中国特气网理事单位,被授予省级"工业设计中心""高端制造 业标准化试点"以及荣获聊城市"规模以上工业企业研发机构""制造业转型升级先进单位"等称号。 公司具备固定式压力容器,移动式压力容器设计资质、压力管道安装改造维修资质；压力表、安全阀校 验资质,低温瓶定检资质,危险化学品经营(不含存储)资质。当前主要产品为长管拖车、管束式集装箱、 特气储运装置,并通过了GB/T19001、GB/T24001、GB/T45001管理体系、ISO、IMDG、ADR、TPED、 GOST、MOM、ASME、DOT、国际标准产品认证认可。与BV、TUV、劳氏等国际检验机构保持长期 合作。拥有大容积钢质无缝气瓶内喷涂装置及其工艺、一种降低高纯氢气管束式集装箱内气瓶露点的方 法、一种高纯度气瓶研磨制作工艺、一种大型容器封头抛光装置等发明专利5项,实用新型专利52项,企业 依靠业务精干的营销团队、 ...

Core Insights - The customized wind turbine platform designed for high altitude and low wind speed environments has officially been launched in Guizhou Province, marking the production commencement of Shanghai Electric Wind Power Group (Guizhou) Co., Ltd [1] - The new wind turbine model EW6.25-220 is optimized for operations above 2000 meters and with an annual equivalent operating hour of approximately 1700 hours, achieving a utilization rate of over 98.5% [1] - The production base aims to establish a complete supply chain for clean energy equipment in the Southwest region, with a projected annual output value of approximately 1.5 billion yuan upon reaching full capacity [1] Company Developments - The wind turbine production facility is located in the Shanghai Electric Guizhou Longli Industrial Park, with plans for a blade factory to commence operations in 2024 [1] - The launch of the wind turbine signifies a significant step towards creating a comprehensive ecosystem for the clean energy industry, covering materials, core components, complete machines, and operational services [1] Industry Trends - During the 14th Five-Year Plan period, Guizhou has added a total of 3.44 million kilowatts of wind power capacity, representing a 62.5% increase compared to the end of 2020 [2] - There are currently 8.52 million kilowatts of wind power projects under construction, with expectations to exceed 10 million kilowatts by the end of 2025 [2] - The new wind turbine technology is anticipated to further expand wind power application scenarios during the 15th Five-Year Plan period [2]

Investment Rating - The investment rating for the company is "Accumulate" and is maintained [9] Core Views - In Q3 2025, the company achieved revenue of 5.513 billion yuan, a year-on-year increase of 11.43%, while the net profit attributable to shareholders decreased by 40.67% to 173 million yuan. The decline in profit was primarily due to a decrease in gross margin and investment income [2][6] - The company is expected to benefit from the release of orders in the clean energy equipment sector, which could contribute positively to performance [2][6] Summary by Relevant Sections Financial Performance - For the first three quarters of 2025, the company reported revenue of 16.155 billion yuan, a year-on-year increase of 5.88%. The net profit attributable to shareholders was 739 million yuan, down 4.76% year-on-year, and the net profit after deducting non-recurring gains and losses was 537 million yuan, a decrease of 10.1% [6] - In Q3 2025, the company’s revenue was 5.513 billion yuan, with a gross margin of 9.7%, down 2.73 percentage points year-on-year. The decline in gross margin was attributed to rising raw material costs and reduced waste generation in the hazardous waste industry [2][6][13] - The company’s cash collection ratio for Q3 2025 was 105.9%, indicating a relatively good cash collection status, although the net cash flow from operating activities was -777.5 million yuan, a decrease of 367.94% year-on-year due to significant inventory increases [13] Business Outlook - The company has established a production capacity of 20 sets per year for pumped storage power generation units and is a key manufacturer of control rod drive mechanisms for the "Hualong One" third-generation nuclear power technology [13] - The Yarlung Tsangpo River downstream hydropower project commenced on July 19, 2025, with a total investment of approximately 1.2 trillion yuan and a planned installed capacity of 60-70 million kilowatts, which may benefit the company [13] Profit Forecast - The forecast for net profit attributable to shareholders for 2025-2027 is 1.06 billion, 1.13 billion, and 1.18 billion yuan, respectively, corresponding to price-to-earnings ratios of 21.4x, 20.1x, and 19.2x [13]

Core Viewpoint - The 2025 Green Energy Development Conference and Smart Ship Development Conference was held in Yichang, Hubei Province, showcasing advancements in LNG-powered vessels and fuel supply systems by CRRC Changjiang Group, addressing industry challenges with innovative solutions [1][2] Group 1: LNG Vessel Innovations - CRRC Changjiang Group introduced an LNG-powered vessel with a fuel supply system that allows for a "one-tank" operation, featuring a quick tank exchange time of 15 minutes and a range of 4000 kilometers [1] - The system significantly enhances safety by eliminating intermediate operations at the dock, thereby reducing risk [1] - Economic benefits are notable as the system does not require the construction of expensive facilities and minimizes operational time, effectively lowering overall costs [1] - The design is adaptable to various scenarios, unaffected by water levels or adverse weather, optimizing shoreline resource utilization [1] - The standardized and modular design simplifies vessel selection and reduces retrofit costs, facilitating integrated storage, transportation, and usage [1] Group 2: Clean Energy Equipment Development - CRRC Changjiang Group is expanding its clean energy equipment applications, focusing on hydrogen storage, transportation, and refueling, as well as LNG vessel power tanks [2] - The company is also developing standardized low-temperature deep-cold storage and transportation equipment for various mediums, including liquid carbon dioxide, nitrogen, argon, ammonia, and alcohol [2] - The aim is to establish a full industry chain model of "R&D + manufacturing + intelligent operation services" for clean energy equipment, supporting the green and intelligent upgrade of modern logistics [2]

Core Insights - The 2025 World Clean Energy Equipment Conference opened in Deyang, Sichuan, showcasing advancements in clean energy technology and equipment [1][2] - Significant agreements were signed, including 16 investment projects and 6 supply chain cooperation projects, covering various sectors such as equipment manufacturing, hydrogen energy, and advanced materials [1] - The conference highlighted China's position as a leader in the clean energy equipment industry, with the largest and most complete industrial chain globally [1][2] Group 1 - The conference featured the debut of the first 15 MW pure hydrogen gas turbine (G15H) developed by Dongfang Electric Group [1] - The event served as a platform for global leaders, scientists, engineers, and entrepreneurs to exchange ideas and showcase innovations in clean energy [2] - The Chinese Mechanical Industry Federation emphasized the importance of clean energy equipment as a key driver for development in the context of global energy transformation [1][2] Group 2 - Deyang aims to leverage the conference to enhance its platform effect, focusing on high-end, intelligent, and green development in the clean energy sector [2] - The city plans to integrate innovation, industry, finance, and talent to create a globally influential clean energy equipment manufacturing hub [2] - There is a commitment to improving policies and scenarios for emerging fields like hydrogen and energy storage, contributing to a sustainable global energy system [2]

Core Insights - China's clean energy equipment production has seen rapid growth this year, significantly contributing to the construction of a modern energy system and a new power system [2][6] - The core technology of clean energy equipment has achieved major breakthroughs in self-control, providing a solid foundation for energy security [3][8] Clean Energy Equipment Production Growth - In the first seven months of this year, solar cell production reached 470 million kilowatts, a year-on-year increase of 19.6% [2] - Wind and solar power accounted for 89.9% of newly installed power generation capacity in the first half of the year [2] - China's clean energy equipment has been exported to 108 countries and regions, with steady growth in export value [2] Technological Advancements - Significant advancements in core technologies for clean energy equipment have been made during the 14th Five-Year Plan period [3] - In Deyang, a major production base, 70% of gas turbine units, 60% of nuclear power units, and 40% of hydropower units' key technologies are developed [3] Innovations in Manufacturing - The G50 heavy gas turbine is nearing completion, marking a significant breakthrough in self-developed gas turbines [4] - The world's largest 500-megawatt hydropower unit rotor has been completed using robotic welding, achieving a 99% first-pass yield rate [4] - The first fourth-generation nuclear power plant with complete independent intellectual property rights has been operating stably for nearly two years, with a utilization rate of 75% and a domestic equipment rate of 93.4% [4] Environmental Impact and Efficiency - The two gas turbine units in Zhejiang Anji are expected to achieve an annual power generation of approximately 7 billion kilowatt-hours, reducing carbon dioxide emissions by about 1.86 million tons annually [5] - The efficiency of the gas turbine units is projected to reach 64.15%, significantly improving energy output [5] Transition to Global Market - China's clean energy equipment is transitioning from product exports to industry ecosystem outputs, with projects like the 1000-megawatt pumped storage power station in Cambodia [6] - The successful production of high-end shield pumps for European clients indicates the establishment of a technical and standard system [6] Standardization and International Influence - The rapid development of clean energy equipment in China is significantly influenced by standardization efforts, with 64 new standards established for the wind power industry during the 14th Five-Year Plan [7] - China's participation in international standard-setting has increased its influence, marking a shift from "market for technology" to "technology output standards" [8]