企业名称绿能世纪（厦门）能源管理有限公司法定代表人林明章注册资本1000万人民币国标行业电力、 热力、燃气及水生产和供应业>电力、热力生产和供应业>电力生产地址厦门市集美区集源路27号二层 231室之五企业类型有限责任公司（自然人投资或控股的法人独资）营业期限2025-8-25至无固定期限登 记机关 来源：金融界 天眼查显示，近日，绿能世纪（厦门）能源管理有限公司成立，法定代表人为林明章，注册资本1000万 人民币，由绿能世纪能源科技（厦门）有限公司全资持股。 序号股东名称持股比例1绿能世纪能源科技（厦门）有限公司100% 经营范围含合同能源管理；太阳能热发电产品销售；光伏设备及元器件销售；节能管理服务；碳减排、 碳转化、碳捕捉、碳封存技术研发；太阳能发电技术服务；以自有资金从事投资活动；风力发电技术服 务；电气设备修理；科技推广和应用服务。（除依法须经批准的项目外，凭营业执照依法自主开展经营 活动）许可项目：发电业务、输电业务、供（配）电业务；输电、供电、受电电力设施的安装、维修和 试验；供电业务；建筑劳务分包。（依法须经批准的项目，经相关部门批准后方可开展经营活动，具体 经营项目以相关部门批准文件或许可证 ...

Quantitative Models and Construction Methods 1. Model Name: 250-Day New High Distance Model - **Model Construction Idea**: This model tracks the distance of stock prices or indices from their 250-day high to identify market trends and hotspots. It is based on the momentum and trend-following strategy, which has been proven effective in various studies[11][19]. - **Model Construction Process**: The 250-day new high distance is calculated using the formula: $ 250\ Day\ New\ High\ Distance = 1 - \frac{Close_t}{ts\_max(Close, 250)} $ Where: - $ Close_t $ is the latest closing price - $ ts\_max(Close, 250) $ is the maximum closing price over the past 250 trading days If the latest closing price reaches a new high, the distance is 0. If the price has fallen from the high, the distance is a positive value representing the percentage drop[11]. - **Model Evaluation**: This model effectively identifies stocks or indices with strong momentum and highlights market leaders during upward trends[11][19]. 2. Model Name: Stable New High Stock Screening Model - **Model Construction Idea**: This model focuses on identifying stocks that exhibit stable momentum characteristics, such as smooth price paths and consistent new highs, which are less likely to be influenced by extreme short-term fluctuations[25]. - **Model Construction Process**: The screening process involves the following steps: 1. **Analyst Attention**: Stocks must have at least five "Buy" or "Overweight" ratings in the past three months[27]. 2. **Relative Strength**: Stocks must rank in the top 20% of the market based on their 250-day price performance[27]. 3. **Price Stability**: Stocks are scored based on two indicators: - **Price Path Smoothness**: Measured by the ratio of price displacement to the total price movement over the past 120 days[25][27]. - **New High Consistency**: The average 250-day new high distance over the past 120 days[27]. 4. **Trend Continuity**: The average 250-day new high distance over the past five days is used to select the top 50 stocks[27]. - **Model Evaluation**: This model emphasizes the importance of smooth momentum and consistent trends, which are often overlooked by investors, leading to stronger momentum effects[25][27]. --- Backtesting Results of Models 1. 250-Day New High Distance Model - **Indices' 250-Day New High Distance**: - Shanghai Composite Index: 0.12% - Shenzhen Component Index: 3.19% - CSI 300: 3.55% - CSI 500: 0.53% - CSI 1000: 0.35% - CSI 2000: 0.23% - ChiNext Index: 8.48% - STAR 50 Index: 7.39%[12][32] 2. Stable New High Stock Screening Model - **Selected Stocks**: 50 stocks were identified, including Borui Pharmaceutical, Shenghong Technology, and Huaguang Energy[28][33]. - **Sector Distribution**: - Manufacturing: 18 stocks - Cyclical: 13 stocks - Leading industries: Machinery in manufacturing and basic chemicals in cyclical sectors[28][33] --- Quantitative Factors and Construction Methods 1. Factor Name: 250-Day New High Distance - **Factor Construction Idea**: This factor measures the relative position of a stock's closing price to its 250-day high, capturing momentum and trend-following characteristics[11]. - **Factor Construction Process**: The formula is the same as the 250-Day New High Distance Model: $ 250\ Day\ New\ High\ Distance = 1 - \frac{Close_t}{ts\_max(Close, 250)} $ - $ Close_t $: Latest closing price - $ ts\_max(Close, 250) $: Maximum closing price over the past 250 trading days[11]. - **Factor Evaluation**: This factor is effective in identifying stocks with strong upward momentum and market leadership potential[11][19]. 2. Factor Name: Price Path Smoothness - **Factor Construction Idea**: This factor evaluates the stability of a stock's price movement over time, favoring stocks with less volatile momentum[25]. - **Factor Construction Process**: - **Price Path Smoothness**: Calculated as the ratio of price displacement to the total price movement over the past 120 days[25][27]. - **Factor Evaluation**: Smooth price paths are associated with stronger momentum effects due to reduced investor attention and reaction[25]. 3. Factor Name: New High Consistency - **Factor Construction Idea**: This factor measures the consistency of a stock's new highs over time, emphasizing sustained upward trends[27]. - **Factor Construction Process**: - **New High Consistency**: The average 250-day new high distance over the past 120 days[27]. - **Factor Evaluation**: Consistent new highs indicate strong and sustained momentum, making this factor valuable for trend-following strategies[27]. --- Backtesting Results of Factors 1. 250-Day New High Distance Factor - **Indices' 250-Day New High Distance**: - Shanghai Composite Index: 0.12% - Shenzhen Component Index: 3.19% - CSI 300: 3.55% - CSI 500: 0.53% - CSI 1000: 0.35% - CSI 2000: 0.23% - ChiNext Index: 8.48% - STAR 50 Index: 7.39%[12][32] 2. Price Path Smoothness Factor - **Selected Stocks**: 50 stocks were identified, including Borui Pharmaceutical, Shenghong Technology, and Huaguang Energy[28][33]. - **Sector Distribution**: - Manufacturing: 18 stocks - Cyclical: 13 stocks - Leading industries: Machinery in manufacturing and basic chemicals in cyclical sectors[28][33] 3. New High Consistency Factor - **Selected Stocks**: Same as the Price Path Smoothness Factor, as this factor is part of the screening process for stable new high stocks[28][33].

Core Viewpoint - The U.S. President Trump has stated that his administration will not approve wind turbine projects, indicating a significant stance against wind energy development in the country [1] Group 1 - The statement reflects a broader policy direction that may impact the renewable energy sector, particularly wind energy [1] - This decision could influence investment strategies in the energy industry, especially for companies focused on wind power [1] - The announcement may lead to increased scrutiny and potential challenges for existing and future wind energy projects in the U.S. [1]

Group 1 - The project by Shengyuan Chemical (Anshan) Co., Ltd. is expected to achieve an annual sales revenue of 1.2 billion yuan and an average annual tax revenue of 36 million yuan, providing employment opportunities and filling industrial gaps in the Anshan region [1] - The project will enhance the chemical industry cluster effect in the Anshan Economic Development Zone, contributing to the integration of Anshan into high-end industries such as new energy vehicles, integrated circuits, and wind power [1] - Electronic high-performance resins are core materials for high-end industries like semiconductors, new energy, and 5G communications, with market demand continuously growing due to the rapid development of China's electronic industry [1] Group 2 - The total investment for the Shengyuan Chemical project is approximately 340 million yuan, covering an area of over 66,000 square meters, with a streamlined approval process that took only three months, significantly shorter than the usual six months [2] - The construction site is organized and well-maintained, with six out of eleven foundation piles already completed, and the project manager expects to finish the construction by the end of the month [2] - Since obtaining the construction permit on May 30, the project has progressed rapidly, with expectations to complete the factory roof by September and enter equipment debugging by December, aiming for trial production in January 2026 [3]

Core Viewpoint - Trump criticized wind power for its high costs and negative impacts on aircraft and valleys [1] Group 1 - Wind power is considered expensive by Trump, raising concerns about its economic viability [1] - The implications of wind power on aviation and natural landscapes were highlighted, suggesting potential environmental and operational challenges [1]

Core Viewpoint - The expected significant decline in wind power generation during the summer in Europe will lead to an increase in coal and gas power generation, resulting in higher electricity prices and increased emissions [1][4]. Group 1: Electricity Generation Trends - Major markets including Germany, France, and Spain are projected to see a 50% increase in coal power generation this month compared to June [1]. - Energy Aspects estimates a 40% decline in wind power generation for July and August [1]. - Historical fossil fuel power plants in Europe may be reactivated, highlighting their continued importance despite investments in renewable energy [1]. Group 2: Electricity Prices - On July 1, the hourly electricity price at the Paris EPEX Spot SE surged to €557.34 per megawatt-hour, nearly nine times higher than the lowest price of the day [1]. - The electricity futures price in Germany for next month is €80.94 per megawatt-hour, approximately one-third higher than in April [1]. Group 3: Weather Impact - Recent temperatures in parts of Germany have approached 40 degrees Celsius, exacerbating the situation for wind power generation [2]. - If the cessation of wind power generation continues for an extended period, fossil fuels will need to fill the evening demand gap in the electricity market [2]. Group 4: Emissions and Historical Context - According to BloombergNEF, emissions from EU power plants may increase by 14% this month compared to June [4]. - Similar patterns of low power generation were observed last winter and spring, necessitating increased output from fossil fuel power plants to ensure electricity supply [4].

- The report tracks the market trend by monitoring stocks, industries, and sectors that have reached new highs, using a 250-day high distance metric[11][12][13] - The 250-day high distance is calculated as: $ 250 \text{ day high distance} = 1 - \frac{Closet}{ts\_max(Close, 250)} $ where Closet is the latest closing price and ts_max(Close, 250) is the maximum closing price in the past 250 trading days[11] - As of June 27, 2025, the 250-day high distances for major indices are: Shanghai Composite Index 1.88%, Shenzhen Component Index 9.71%, CSI 300 7.86%, CSI 500 7.38%, CSI 1000 5.07%, CSI 2000 1.91%, ChiNext Index 16.70%, and STAR 50 Index 12.30%[12][13] - The report identifies 832 stocks that reached a 250-day high in the past 20 trading days, with the highest numbers in the pharmaceutical, basic chemicals, and machinery industries[19][20] - The report also tracks "stable new high stocks" based on analyst attention, relative stock strength, trend continuity, price path stability, and new high sustainability, selecting 32 stocks such as Shenghong Technology, Shijia Photon, and Giant Network[26][28][29] - The selected stable new high stocks are mainly from the technology and large financial sectors, with the technology sector having the most new highs in the electronics industry and the large financial sector having the most new highs in the banking industry[29][30][32]

Investment Rating - The investment rating for the company is "Outperform" (maintained) [3] Core Views - The company has sufficient orders in the marine and nuclear power sectors, with a total order backlog of 5.07 billion yuan as of December 31, 2024 [4] - The company has launched mass production of its battery thermal protection system and has increased R&D investment, with R&D expenses reaching 26.91 million yuan in 2024, a year-on-year increase of 34.21% [5] - The company is expected to benefit from the release of production capacity from future fundraising projects, maintaining a positive outlook despite recent adjustments to profit forecasts [3][4] Financial Performance Summary - In Q1 2025, the company achieved revenue of 125 million yuan, a year-on-year increase of 7.11%, while net profit attributable to the parent company was 11.07 million yuan, down 14.84% year-on-year [3] - For the full year 2024, the company reported revenue of 529 million yuan, a growth of 4.06% year-on-year, and a net profit of 54.66 million yuan, a decline of 9.76% year-on-year [3] - The company forecasts net profits of 58 million yuan, 74 million yuan, and 87 million yuan for 2025, 2026, and 2027 respectively, with corresponding EPS of 0.79, 1.01, and 1.19 yuan per share [3][6] Order and Market Outlook - The company has a strong order pipeline, particularly in the nuclear power sector with 141 million yuan in orders, and marine projects scheduled for production as far out as 2027 [4] - The cooling system segment generated revenue of 109 million yuan in 2024, up 5.54% year-on-year, while the ventilation fan segment achieved revenue of 409 million yuan, up 3.59% year-on-year [4] R&D and Innovation - The company holds 136 patents, including 22 invention patents, and has developed key products such as the EC centrifugal fan without a volute, which is used in efficient and reliable applications [5] - The mass production of the battery thermal protection system is aimed at vehicles powered by hydrogen fuel cells and power batteries, indicating a strategic focus on innovative solutions [5]

Core Viewpoint - The market is expected to have limited pullback due to ample liquidity, and quality stocks with good performance in Q1 and positive expectations for mid-year reports can be accumulated on dips [2][6]. Market Overview - The A-share market is facing resistance at the upper range, with sectors such as communication optical modules, rare earth permanent magnets, brokerage firms, and innovative pharmaceuticals showing performance, although market hotspots are switching rapidly [2]. Weekly Review - On June 10, a framework agreement was reached between China and the U.S. after extensive talks, focusing on rare earths and technology. China's export controls on certain heavy rare earths since April have heightened concerns among overseas companies reliant on these materials, with approximately 80% of U.S. rare earth demand depending on imports from China. The importance of rare earth permanent magnet materials is increasing in various sectors, including robotics, new energy vehicles, and consumer electronics, leading to strong performance in the A-share rare earth permanent magnet sector [3]. - The optical module sector performed well, with expectations of significant growth in 800G optical module products driven by AI infrastructure and traditional cloud data center technology upgrades. Additionally, demand for higher-value 1.6T products is anticipated to surge by 2026. Nvidia's strong stock performance and plans to build AI factories in Europe have positively impacted related sectors, including PCB and communication industry stocks [4]. - The innovative pharmaceuticals and brokerage sectors also showed performance, while the liquor sector negatively impacted the market. The market saw gains in oil and gas sectors due to heightened tensions in the Middle East [4]. Market Outlook - The Shanghai Composite Index is operating at the upper range, supported significantly by the banking sector. The Shenzhen Component Index is relatively weaker, affected by the new energy and Apple supply chain. Future market trends will need to consider changes in the Middle East geopolitical situation and developments in U.S.-China trade negotiations [5].

Overview of Investment - The company has announced the establishment of a wholly-owned subsidiary named Wuhu Tianchen New Energy Engineering Co., Ltd. with a registered capital of RMB 40 million [1][2] - The investment is made by Tianchen Green Energy Technology (Wuhu) Co., Ltd., a wholly-owned subsidiary of the company, using its own funds [1][3] Investment Details - The investment falls within the approval authority of the company's general manager and does not require board or shareholder approval [2] - The investment does not involve related party transactions and does not constitute a major asset restructuring as defined by relevant regulations [2] Business Scope of the New Subsidiary - The new subsidiary will engage in various activities including electrical installation services, construction project management, renewable energy technology research, and sales of energy-related equipment [2] - Specific projects include solar power technology services, wind power technology services, and electric vehicle charging infrastructure operations [2] Strategic Importance - The investment aligns with the company's development strategy and is expected to contribute positively to its long-term growth [3] - The funding source is from the subsidiary's own capital, ensuring no adverse impact on the company's financial and operational status [3]