截至午间收盘，中证上海环交所碳中和指数上涨2.3%，中证新能源指数上涨2.1%，上证科创板新能源指数上涨2.0%，国证新能源电池指数上涨1.6%，中证 光伏产业指数上涨0.4%。 | 新能源ETF易方达 樓 | | | 5160 | | --- | --- | --- | --- | | 跟踪中证新能源指数 | | | | | | | | · ///// | | 该指数涵盖新能源产业链, | 截至午间收盘 | 该指数 | 该指数自20 | | 覆盖锂电、光伏、风电、 | 该指数涨跌 | 滚动市盈率 | 发布以来估们 | | 水电、核电等未来清洁能 | | | | | 濃。 | 2.1% | 50.5倍 | 82.2% | | 科创新能源ETF易方达 | | | 5899 | | 跟踪上证科创板新能源指数 | | | | | | | | · ///// | | 该指数由科创板有代表性 | 截至午间收盘 | 该指数 | 该指数 | | 的50只新能源产业股票组 | 该指数涨跌 | 市净率 | | | 成,契合未来产业趋势, | | | | | 光伏设备和电池行业占比 约80%。 | 2.0% | 2.9倍 | 2 ...

谢尔曼 长江证券电子分析师: 好的，各位投资人，大家下午好。也是祝大家这个新的一年开工大吉。我是长江长江证券 电子研究小组的研究员谢尔曼。然后今天的话是我们这个第一场开门红的线上电话会议。 我们也是邀请到了这个 TCL 科技的 AR 总监王总来跟大家这个交流公司的，包括行业的一 些。近况，因为最近的话，包括节前我们看到涨价的这个方向，市场这关注度是非常高的 然后股价表现也都不错。之前的话，我们这个也是联合其他行业写了一个这个涨价的报告 像电子这边，相关的方向，包括存储、不同板、面板还有元器件，其实我们觉得往后看的 话，机会都还是比较好的。 所以说这个涨价的方向的话，这个今天很荣幸的邀请到了这个王总过来跟，是大家去交流 一下这个对于后后续的一个展望。那我们还是首先把这个时间交给王总这边吧。请王总这 边，然后简单跟各位投资人介绍一下公司的一个近况，然后我们再进入一个 QA 环节。 TCL 科技 AR 总监王总: 好，谢谢长江电子团队，还有谢谢谢总帮忙组织这样一个会议。然后也感谢各位投资人宝 贵的时间，然后今年确实是一个开门红，一个比较好的一个日子。然后整个 LCD 这一块 的话，其实整个价格今年来看，我认为还是非 ...

晚上九点，当城市点亮璀璨灯火，工厂的机器仍在轰鸣，数据中心服务器阵列闪烁着幽幽蓝光，数以亿 计的屏幕前，人们正通过指尖与整个世界连接。 就在这样的寻常夜晚，一个数字悄然刷新了历史——在刚刚过去的七月，中国的全社会用电量首次突破 单月一万亿度。 人们不禁好奇，一万亿度电，究竟是怎样的概念？这相当于东盟十国全年的用电总量，超过了德国与法 国一年的用电量之和。更令人震撼的是，这个数字比十年前翻了一番。 人类能源利用史上，从未有一个国家，在一个月内消耗如此规模的电力。这个看似冰冷的数字背后，藏 匿着一条关于国家命运与时代更迭的隐秘线索，它无声地诉说着：能源的权杖，正在交接。 文明的每一次跃升，都与能源的进阶紧密相连。从薪柴到煤炭，从石油到电力，谁掌握了更庞大、更高 效的能源体系，谁就握住了时代的脉搏。 回顾历史，煤炭曾与钢铁、蒸汽机一道，铸就了大英帝国无与伦比的辉煌，开启了第一次工业革命的壮 阔篇章。 十六世纪后，随着人口膨胀与工业萌芽，欧洲对钢铁的需求如饥似渴。当时，一座炼铁厂一年就能消耗 掉四百英亩的林地。 煤炭，点燃不列颠的荣光 无止境的砍伐让英伦三岛的森林覆盖率在十八世纪初骤降至不足一成。能源危机，已然迫在眉 ...

在全球能源转型持续深化的背景下，国内光伏龙头企业再度传来海外订单进展。天合光能近日宣布，旗下天合跟踪已与 西班牙一家EPC企业达成合作协议，将为其位于西班牙的两大光伏电站项目提供合计360MW智能跟踪系统解决方案。 本次合作计划交付约11000套"开拓者1P"单排跟踪系统，项目建成后将有效提升电站发电效率与运行稳定性，也为公司 在欧洲成熟市场的进一步布局注入新动能。 外高端市场稳定获取订单的企业，往往具备更完善的产品矩阵与风险管控体系。天合光能在组件、储能及跟踪系统等多 领域形成协同布局，有助于分散单一产品价格波动带来的影响，提高整体盈利韧性。 此外，西班牙项目的实施还将进一步提升公司在欧洲市场的品牌影响力。当前全球光伏市场竞争格局加速重构，头部企 业通过本地化生产、技术合作与工程服务网络建设，不断巩固区域市场地位。和众汇富认为，本次合作不仅是一次设备 供货行为，更是公司深化欧洲战略布局的重要节点。随着项目逐步进入交付与并网阶段，其示范效应或将带动更多潜在 合作机会。 总体来看，天合光能通过此次360MW智能跟踪系统合作，展示了其在高端海外市场的产品实力与项目执行能力。在全 球能源结构加速转型、可再生能源装机 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The satellite launch industry is entering an accelerated phase, with significant growth expected in satellite deployment plans, including over 200,000 satellites submitted by China and 1 million by SpaceX, indicating a potential increase in the global satellite market from tens of MW to hundreds of MW and GW levels [15][21][22] - The space photovoltaic market is currently valued at 30 MW, representing only 2% of the terrestrial photovoltaic market, but could expand significantly under various scenarios, potentially reaching 100 GW and generating up to 9 times the value of the terrestrial market [3][18] - The competition for orbital resources is intensifying, with low Earth orbit (LEO) communication satellites becoming the primary focus, as they offer lower latency and broader applications compared to traditional satellites [16][35] Summary by Sections Section 1: Industry Growth and Satellite Launches - The global satellite launch volume is expected to reach a historical high in 2025, with a projected increase of 72.5% in new satellites launched, totaling approximately 4,330 satellites [22][21] - China's satellite deployment plans are ambitious, with a significant increase in the number of satellites expected to be launched by 2030, potentially exceeding 10,000 annually [21][27] Section 2: Space Photovoltaics Market Potential - The current space photovoltaic market is small, but three scenarios could lead to substantial growth: 1. A dense launch of communication satellites could push the market to 40% of the terrestrial photovoltaic market 2. Initial networking of computing constellations could create a demand for 10 GW of space photovoltaics, surpassing terrestrial values 3. Dominance of computing satellites could lead to a demand of 100 GW, increasing market value significantly [3][18] Section 3: Technological Developments and Supply Chain Opportunities - The report highlights the need for technological advancements in space photovoltaic systems, particularly in materials and efficiency, as traditional technologies face limitations in space environments [8][17] - The supply chain for space photovoltaics is expected to see increased demand for packaging materials, which are significantly more valuable in space applications compared to terrestrial uses [19][18] - The shift towards flexible solar wings is anticipated to replace rigid designs, creating new opportunities for materials such as UTG glass and CPI films [19][18]

消息面上，1) 北美电力供应紧张推动特斯拉和SolarCity加速布局光伏及储能解决方案，特斯拉计划将太 阳能电池板年产能提升至1GW，机构预计2023年分布式光伏部署量增长30%，北美光伏装机量2025年将 达40GW；2) 有针对OBBB法案储能细则分析称，2025年8月前开工项目不考核非PFE比例，2026年后储 能电站/系统MACR要求逐步提升至55%-85%，中国储能企业或需拓展非PFE电池供应商。 截至2026年2月25日 10:09，上证科创板新能源指数(000692)强势上涨1.24%，成分股高测股份上涨 11.01%，五矿新能上涨9.67%，嘉元科技上涨5.23%，壹石通，容百科技（维权）等个股跟涨。科创新 能源ETF(588830)上涨1.19%，最新价报1.7元。 券商研究方面，东吴证券指出中东地区光伏装机增长将保持强劲，MESIA预测中东及北非地区的光伏 新增装机量将从2024年的5GW逐年提升到2030年的35GW，国内中资光伏龙头企业如晶科能源、TCL中 环正加速布局中东本土化产能。其还提到，HJT技术在美国具备成本优势，因其生产工艺较TOPCon更 简单，人力、厂房投资等综合成本 ...

工业硅：处于相对低估值区间 多晶硅：情绪或提振盘面 张 航 投资咨询从业资格号：Z0018008 zhanghang2@gtht.com 【基本面跟踪】 工业硅、多晶硅基本面数据 | | | 指标名称 | T | T-1 | T-5 | T-22 | | --- | --- | --- | --- | --- | --- | --- | | | | Si2605收盘价（元/吨） | 8,410 | 15 | -40 | -320 | | | | Si2605成交量（手） | 134,782 | -73,273 | -65,318 | -101,060 | | | | Si2605持仓量（手） | 293,851 | 7,958 | -1,059 | 63,131 | | 工业硅、多晶硅期货市场 | | PS2605收盘价（元/吨） | 47,000 | -2,305 | -2,370 | - | | | | PS2605成交量（手） | 8,503 | 4,716 | 3,797 | - | | | | PS2605持仓量（手） | 37,729 | 885 | -618 | - | | | | 工业硅：近月 ...

经观能源 2月24日，A股三大股指高开高走、放量上行，市场交投活跃度提升，石油化工、有色金属、贵黄金多 数板块表现强势，多只个股实现涨停或大幅上涨，展现出较强的市场活力。 贵金属板块全线暴涨，成为当日市场一大亮点。晓程科技领涨板块，涨幅高达15.19%；四川黄金涨 停，涨幅9.99%；中国黄金、西部黄金、招金黄金、赤峰黄金、中金黄金涨幅均超5%，分别为8.71%、 6.37%、5.88%、5.44%、5.39%；紫金矿业、湖南黄金、山东黄金也均有不错表现，涨幅分别达4.08%、 4.03%、3.61%，板块内个股全线飘红，无一下跌。 储能板块震荡上行，整体呈现涨多跌少格局，多只个股实现涨停或大幅上涨。新锦动力以20.07%的涨 幅实现20cm领涨；明阳电气、瑞可达、铜冠铜箔涨幅均超14%，其中明阳电气上涨17.48%、瑞可达上 涨16.63%、铜冠铜箔上涨14.49%；安靠智电、中油工程、通鼎互联、白云电器、风华高科等个股涨幅 超10%，豫能控股、协鑫集成、嘉泽新能涨幅接近10%，潍柴动力上涨8.62%，板块整体涨幅中等，龙 头个股表现突出。 石油化工板块表现突出，全线爆发领跑市场，板块内多只个股强势涨停。其 ...

| 热度排名 | 人气个股 | 热度值 | 所属概念 | 热度标签 | | --- | --- | --- | --- | --- | | 1 | 协鑫集成 | 9.5 | 钙钛矿电池,HJT电池 | 9天5板 | | 2 | 风语筑 | 9.5 | Sora概念(文生视频),文化传媒概念 | 持续上榜 | | 3 | 汉缆股份 | 8.25 | 柔性直流输电, 特高压 | 3天3板 | | 4 | 华工科技 | 8.0 | 共封装光学(CPO), F5G概念 | 首板涨停 | | 5 | 利欧股份 | 6.5 | 小红书概念,快手概念 | 持续上榜 | | 6 | 风华高科 | 6.0 | 超级电容,AI眼镜 | 首板涨停 | | 7 | 华胜天成 | 5.25 | 华为鲲鹏, 智慧政务 | 持续上榜 | | 8 | 亚星锚链 | 4.5 | 国产航母,军民融合 | 2天2板 | | g | 保变电气 | 4.0 | 柔性直流输电,特高压 | 首板涨停 | | 10 | 大位科技 | 3.75 发、动即体与的调公同性、VAA和平守席的人工管组山 场博店等公共10人 工材网书次群的 | 算力租赁,云计算 | ...

Group 1 - The total issuance scale of new funds in China has exceeded 209.4 billion yuan, with 227 new funds established as of February 24, 2026 [1] - 65 funds have raised over 1 billion yuan, with 15 funds exceeding 3 billion yuan, indicating strong market interest [1] - Insurance institutions are optimistic about the A-share market and plan to slightly increase their allocation to A-shares in 2026 [1] Group 2 - Over 93.2% of insurance asset management products have achieved positive returns this year, with nearly 20 products yielding over 10% [1] - The focus for insurance asset management institutions is expected to shift towards technology innovation and high-quality listed companies in key sectors [1] Group 3 - The private credit fund industry is facing warnings of potential defaults, with UBS predicting a default rate could reach 15% [2] - Concerns have been raised about the stability of private credit funds, particularly following redemption restrictions by Blue Owl Capital [2] Group 4 - The banking sector has seen a cold start to the year, with institutions expressing concerns over credit quality and lending trends [2] - Recent financial data indicates a rare year-on-year decline in credit issuance, raising questions about the banking sector's performance [2] Group 5 - The cancellation of export tax rebates for the photovoltaic industry is set to take effect on April 1, 2026, which may accelerate industry consolidation [3] - Companies are increasing production to maximize exports before the policy change, but there are concerns about demand in the second quarter [3] Group 6 - The global storage chip market is expected to see price increases starting in Q3 2025, driven by advancements in AI and computing power [4] - Chinese storage companies are making significant progress, positioning themselves as key players in the global market [4] Group 7 - HP reported a first-quarter revenue of $14.4 billion, a 6.9% increase year-on-year, with personal systems business revenue growing by 11% [6] - The company expects adjusted earnings per share for the fiscal year to be between $2.90 and $3.20 [6] Group 8 - Keep anticipates a narrowed loss of approximately 72 million yuan for the fiscal year ending December 31, 2025, compared to a larger loss in the previous year [6] - The company also expects to report an adjusted profit of around 25 million yuan for the same period [6] Group 9 - Huayi Technology has submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange [7] - The application is subject to approval from regulatory bodies, indicating potential future growth opportunities [8] Group 10 - Kaipu Cloud has terminated its major asset restructuring plan to acquire a 70% stake in Nanning Taike Semiconductor due to market changes [9] - The company has committed to not planning any major asset restructuring for at least one month following the announcement [9] Group 11 - Hualian Holdings plans to acquire 100% of Argentum Lithium S.A. for approximately $175 million, pending shareholder approval [10] - The transaction is not classified as a related party or major asset restructuring, but it carries uncertainties regarding implementation [10] Group 12 - Supor reported a slight increase in revenue for 2025, but a 6.58% decline in net profit, attributed to decreased export orders and rising sales expenses [11] - The company is focusing on cost reduction and efficiency improvements to enhance profitability [11] Group 13 - Aidi Pharmaceutical reported a revenue increase of 72.49% for 2025, but still incurred a net loss of approximately 19.73 million yuan [12] - The increase in revenue is linked to higher sales of innovative HIV drugs and the consolidation of Nanda Pharmaceutical's operations [12] Group 14 - Weidong Nano reported a revenue decline of 2.52% for 2025, with a net profit decrease of 6.12%, influenced by reduced acceptance of photovoltaic equipment [13] - The company continues to invest heavily in R&D to maintain its competitive edge in new photovoltaic technologies [13] Group 15 - U.S. stock markets saw collective gains, with the Nasdaq rising by 1.04%, driven by rebounds in software and AI-related stocks [14] - The dollar index rebounded, while gold and silver prices experienced declines after recent highs [14]