Investment Rating - The report indicates a positive investment outlook for the electric power equipment industry, with a focus on wind power and power equipment sectors receiving increased allocations from funds [4][9]. Core Insights - The A-share market experienced fluctuations, with the Shanghai Composite Index closing down by 0.23% at 3,371.92 points, while the Shenzhen Component Index and the ChiNext Index also saw declines [2][7]. - The report highlights that the electric power equipment sector's fund holdings have shown stable growth year-on-year, with a total market value of 322.37 billion yuan in Q4 2024, reflecting a year-on-year increase of 28.62% [9][10]. - The report emphasizes the increasing allocation to the electric power equipment sector, with an overweight ratio of 4.76%, indicating a growing interest from institutional investors [9][13]. Summary by Sections Market Performance - The A-share market had a total trading volume of 1.68 trillion yuan, with 2,500 stocks rising [2][7]. - The Hong Kong Hang Seng Index fell by 0.76%, while the Hang Seng Tech Index dropped by 2.04% [2][7]. Important News - U.S. inflation data for February showed a year-on-year increase of 2.8%, which was below market expectations, indicating a cooling trend [3][8]. - The Chinese government has issued guidelines to promote high-quality development in the environmental protection equipment manufacturing industry [3][8]. Fund Holdings Analysis - The report notes that the top five, ten, and twenty stocks in the electric power equipment sector saw a slight decrease in holding concentration, with the top five stocks accounting for 67.67% of the total market value [10][12]. - The report identifies key stocks in the battery and photovoltaic equipment sectors, with mixed performance among the top holdings [10][11]. Investment Recommendations - The report suggests focusing on leading companies in the lithium battery materials sector due to expected growth driven by new energy vehicle sales [13]. - It also highlights the potential for stable growth in photovoltaic and wind power installations, supported by government policies [13].

Investment Rating - The report recommends a "Buy" rating for companies in the coal mining sector, particularly those focusing on intelligent mining technologies [7][10]. Core Insights - The integration of embodied intelligence in coal mining is expected to drive the industry towards automation and enhance safety by reducing the number of workers underground [8][9]. - The Chinese government is actively promoting the adoption of intelligent mining technologies, with policies aimed at increasing the replacement rate of manual labor with robots in hazardous mining jobs [7][10]. - The coal mining sector is facing challenges such as rising labor costs and safety concerns, which are pushing companies to invest in automation solutions [8][9]. Summary by Sections Mechanical Equipment Industry Review - The report highlights the role of embodied intelligence in transforming coal mining into an automated and safer industry, supported by government policies [7]. - By 2026, the goal is to achieve a 30% replacement rate of manual labor in coal mining with intelligent equipment [7][10]. Pharmaceutical and Biological Industry Weekly Report - The pharmaceutical sector saw a 1.06% increase in the week of March 3 to March 7, 2025, underperforming compared to the CSI 300 index [12]. - The report emphasizes the government's focus on optimizing drug pricing mechanisms and supporting the development of innovative drugs [13][14]. New Energy Power Industry Weekly Report - The report notes a stabilization in the prices of the photovoltaic industry chain, with a focus on the progress of offshore wind projects [15][17]. - The wind power sector is experiencing a recovery in pricing trends, with significant project developments in various provinces [19][20]. Market Data - The report provides various market performance metrics, including the Shanghai Composite Index and sector-specific performance [28][24]. Analyst Recommendations - The report suggests focusing on companies with strong technological capabilities and long-term partnerships in the coal mining sector, particularly Tianma Zhikong and Zhengmei [10]. - In the pharmaceutical sector, it recommends investing in high-quality generic and innovative drug companies [14]. - For the new energy sector, it highlights companies like Fulete and Oriental Cable as key players benefiting from market trends [18][21].

Investment Rating - The investment rating for the company is "Outperform the Market" [5][15][3] Core Views - The company reported a revenue of 18.09 billion yuan for 2024, representing a year-on-year growth of 21%. However, the net profit attributable to shareholders decreased by 7% to 1.86 billion yuan, primarily due to a decline in wind turbine prices and impairment provisions [1][8] - The company has seen a steady increase in wind turbine sales, with a new installation capacity of 9.15 GW in 2024, up 23% year-on-year, capturing approximately 10.5% of the domestic market share [2][11] - The company is actively expanding its overseas market presence, signing contracts for a total of 1,624 MW of wind turbine sales in India, which is expected to significantly boost its overseas order volume [2][12] - The company has also made progress in establishing overseas production capacity, including a wind equipment manufacturing base in Kazakhstan and expansion of its factory in India [2][14] Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 18.09 billion yuan, a 21% increase year-on-year, while the net profit attributable to shareholders was 1.86 billion yuan, down 7% [1][8] - The fourth quarter of 2024 saw a revenue of 9.02 billion yuan, a 21% increase year-on-year and a 138% increase quarter-on-quarter [1][8] - The net profit margin for 2024 was 10.3%, a decrease of 3.2 percentage points year-on-year [1][8] Market Position and Growth - The company’s cumulative wind turbine installation capacity exceeded 31.5 GW by the end of 2024, with a domestic market share of approximately 5.6% [2][11] - The company is focusing on enhancing its wind farm resource development, with over 2 GW of self-built wind farms currently under construction [11][12] Future Outlook - The profit forecast for 2025 and 2026 has been revised down to 2.33 billion yuan and 2.82 billion yuan, respectively, reflecting a year-on-year growth of 25% and 21% [3][15] - The current stock price corresponds to a price-to-earnings ratio (PE) of 14.7 for 2025 and 12.2 for 2026 [3][15]

Group 1: A-Share Market Highlights - The A-share market showed mixed performance in major indices, with sector and stock differentiation observed [2][4] - New stocks were a significant highlight, with two new listings experiencing substantial gains and hitting trading halts twice during the session [2][3] Group 2: New Stock Performances - Changyou Technology saw a remarkable increase, with its stock price rising over 350% and hitting trading halts twice [4] - The company specializes in the research, production, and sales of polymer composite materials and lightweight sandwich materials, primarily serving the wind power and rail transit sectors [4] - Huitong Holdings also performed well, with its stock price increasing over 220% and hitting trading halts twice [5] - Huitong Holdings focuses on the development and production of automotive styling components and acoustic products, having established partnerships with major automotive manufacturers [5] Group 3: Hong Kong Market Overview - The Hong Kong market experienced a downturn, with the Hang Seng Index dropping nearly 2% during the session [6] - Automotive stocks in Hong Kong faced significant declines, with Geely Automobile falling over 10% and BYD dropping over 8% [6] Group 4: Japanese Market Update - The Japanese stock market also declined, with the Nikkei 225 index experiencing a drop of over 2.5%, reaching a near six-month low [9] - SEVEN&I led the decline among Nikkei 225 constituents, with a drop exceeding 11% [9]

[Table_Reportdate] 2025年03月03日 周啸宇 S0630519030001 zhouxiaoy@longone.com.cn 证券分析师 王珏人 S0630523100001 wjr@longone.com.cn 证券分析师 于卓楠 S0630524100001 yzn@longone.com.cn [table_stockTrend] -23% -12% -1% 10% 21% 31% 42% 24-02 24-04 24-06 24-08 申万行业指数:电力设备(0763) 沪深300 [相关研究 table_product] 1.电车渗透率维持高位，国内储能市 场迎高质量发展——电池及储能行 业周报（2025/02/17-2025/02/23） 2.光伏政策推动排产回暖，2024年国 内新签风机订单量高增——新能源 电 力 行 业 周 报 （ 2025/02/17- 2025/02/21） 3.节后产业链整体维稳，新能源上网 电价市场化改革政策出台——新能 源 电 力 行 业 周 报 （ 2025/02/10- 2025/02/16） [Table_NewTitle 抢装带动行业 ...

Investment Rating - The mechanical equipment sector is rated as "stronger than the market" [3] Core Insights - The AI-driven intelligent manufacturing sector is experiencing a significant turning point, with cross-industry players accelerating their entry due to comprehensive technological reserves and ecosystem collaboration capabilities [3][10] - The report highlights the robust growth potential in the mechanical equipment sector, driven by technological advancements and policy support, particularly in the fields of robotics, AI, and renewable energy [3][25] Summary by Sections 1. Mechanical Equipment Sector Adjustment - The mechanical equipment sector saw a decline of 2.43% this week, while the Shanghai and Shenzhen 300 index fell by 2.22%, ranking 22nd out of 31 sectors [3][10] - The engineering machinery segment led the gains with an increase of 3.67%, followed by building equipment and rail transit equipment [3][10] 2. AI and Intelligent Manufacturing - The mechanical industry is steadily growing with diverse application prospects, supported by new algorithms and computing power [25] - Major companies are investing heavily in AI infrastructure, with Alibaba announcing a 380 billion yuan investment over three years [3][25] 3. Semiconductor Equipment - Samsung and Yangtze Memory Technologies reached a patent agreement for hybrid bonding technology, which will be used in the next generation of NAND flash memory [31] - Intel has begun using ASML's first two High-NA EUV machines, which significantly enhance production efficiency [33] 4. Renewable Energy Equipment - The report notes a strong demand for new energy vehicles and a recovery cycle for lithium battery equipment [3][34] - A significant wind power project was announced, with a total scale of 800MW, indicating robust growth in the wind energy sector [37] 5. Robotics and Automation - The report emphasizes the emergence of humanoid robots and their applications, with companies like Xiaomi and Chery actively developing their robotics capabilities [3][30] - Innovations in robotics, such as the G1 robot's ability to learn any action, showcase advancements in motion control and learning capabilities [30]

1 鉴于公司 2024 年度向特定对象发行股票的股东大会决议有效期即将届满，考虑到 本次发行的当前进展及公司的实际情况，为确保发行工作持续、有效、顺利推进，公司 拟提请股东大会审议批准将本次发行的股东大会决议有效期及相关授权有效期自原有 期限届满之日起延长 12 个月，至 2026 年 3 月 17 日。除上述延长有效期外，本次发行 的其他内容不变，并在延长期限内继续有效。我们同意本议案相关事宜，并同意将本议 案提交公司董事会审议。 此项议案以 5 票同意、0 票反对、0 票弃权获得通过。 独立董事：魏占志、李海锋、杨林武、李诗鸿、陈辉 2025 年 2 月 28 日 上海泰胜风能装备股份有限公司 独立董事专门会议 2025 年第一次会议决议 上海泰胜风能装备股份有限公司（以下简称"公司"）独立董事专门会议 2025 年 第一次会议由独立董事专门会议召集人李海锋先生召集并主持本次会议，于 2025 年 2 月 21 日以专人送达、电子邮件等形式发出会议通知，并于 2025 年 2 月 28 日在公司会 议室以现场和通讯结合的方式召开。应出席本次会议的独立董事 5 人，亲自出席的独立 董事 5 人。本次会议的召 ...

上述董事候选人尚需提交股东大会进行审议，并采用累积投票制分别表决选举 4 名 非独立董事和 3 名独立董事，任期自股东大会审议通过之日起三年。 上述董事候选人人数符合《公司法》《公司章程》的规定，其中独立董事的人数不 少于公司董事总数的三分之一，拟任董事中兼任公司高级管理人员的人数总计未超过公 司董事总数的二分之一。 证券代码：300129 证券简称：泰胜风能 公告编号：2025-005 上海泰胜风能装备股份有限公司 关于董事会提前换届选举的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 上海泰胜风能装备股份有限公司（以下简称"公司"）第五届董事会将于 2025 年 6 月 5 日届满，为进一步提升公司的运行管理效率，根据公司实际工作安排，公司董事会 决定提前进行换届选举。根据《中华人民共和国公司法》《深圳证券交易所创业板股票 上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运 作》《公司章程》《公司董事会议事规则》等相关规定，公司按照相关法定程序进行董事 会换届选举。 2025 年 2 月 28 日，公司召开第五届董事会第 ...

如否，请详细说明：______________________________ 上海泰胜风能装备股份有限公司 独立董事提名人声明与承诺 提名人 上海泰胜风能装备股份有限公司董事会 现就提名 陈辉 为上海泰 胜风能装备股份有限公司第六届董事会独立董事候选人发表公开声明。被提名人 已书面同意作为上海泰胜风能装备股份有限公司第六届独立董事候选人(参见该 独立董事候选人声明与承诺)。本次提名是在充分了解被提名人职业、学历、职 称、详细的工作经历、全部兼职、有无重大失信等不良记录等情况后作出的，本 提名人认为被提名人符合相关法律、行政法规、部门规章、规范性文件和深圳证 券交易所业务规则对独立董事候选人任职资格及独立性的要求，具体声明并承诺 如下事项： 一、 被提名人已经通过上海泰胜风能装备股份有限公司第五届董事会提 名委员会资格审查，提名人与被提名人不存在利害关系或者其他可能影响独立履 职情形的密切关系。 ■ 是 □ 否 如否，请详细说明：______________________________ 二、 被提名人不存在《中华人民共和国公司法》第一百七十八条等规定不 得担任公司董事的情形。 ■ 是 □ 否 三、 被提名 ...

3. 独立董事专门会议 2025 年第一次会议决议。 特此公告。 上海泰胜风能装备股份有限公司 关于延长公司 2024 年度向特定对象发行 A 股股票 股东大会决议有效期及相关授权有效期的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 上海泰胜风能装备股份有限公司（以下简称"公司"）于 2025 年 2 月 28 日召开第 五届董事会第二十次会议，审议通过了《关于延长公司 2024 年度向特定对象发行 A 股 股票股东大会决议有效期及相关授权有效期的议案》。该议案尚需提交股东大会审议。 现将具体情况公告如下： 2024 年 3 月 18 日，公司 2024 年第一次临时股东大会审议通过了《关于公司 2024 年度向特定对象发行 A 股股票方案的议案》《关于提请股东大会授权董事会办理本次向 特定对象发行 A 股股票相关事宜的议案》等议案。根据公司 2024 年第一次临时股东大 会决议，公司 2024 年度向特定对象发行 A 股股票的股东大会决议有效期以及股东大会 授权董事会办理向特定对象发行 A 股股票相关事宜的有效期均为自该次股东大会审议 通过之日起 1 ...