登录新浪财经APP 搜索【信披】查看更多考评等级 截至本公告披露日，阿特斯阳光电力集团股份有限公司（以下简称"公司"或"阿特斯"或"发行人"）股东 无锡元禾重元优能创业投资合伙企业（有限合伙）（以下简称"元禾重元"）持有公司股份75,338,364 股，占公司总股本的2.04%。 上述股份来源于公司首次公开发行前取得的股份，并已于2024年6月11日解除限售并上市流通。 证券代码：688472 证券简称：阿特斯 公告编号：2025-046 阿特斯阳光电力集团股份有限公司 关于持股5%以下股东减持股份计划公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： ● 股东持股的基本情况 ● 减持计划的主要内容 公司于今日收到元禾重元出具的《减持计划告知函》，因自身资金需求，元禾重元计划自本公告披露之 日起3个交易日后的3个月内，在符合法律法规规定的减持前提下，通过集中竞价减持公司股份不超过 36,882,173股，即不超过公司总股本1%；通过大宗交易减持公司股份不超过38,456,191股，即不超过公 司 ...

Core Viewpoint - Array Technologies, Inc. (NASDAQ:ARRY) is considered one of the most undervalued solar stocks, despite recent downgrades and challenges posed by tariffs in India and Mexico [1][2]. Company Overview - Array Technologies, Inc. is a provider of solar tracking technology products, operating in the United States, Brazil, Australia, and globally. The company was incorporated in 1987 and has two main segments: Array Legacy Operations and STI Operations [3]. Financial Performance - Year-to-date, Array Technologies has delivered a return of 24.01%, which is nearly double that of the market, indicating strong performance in the first half of 2025 following poor results in 2024 [1]. Market Outlook - Analysts at BofA have downgraded Array Technologies from "Neutral" to "Underperform" and reduced the price target from $8 to $7, citing concerns over the company's fiscal 2025 margin target as "unrealistic" due to increased tariffs [1]. Growth Potential - Despite the risks, there is potential for Array Technologies to unlock significant value in the solar sector if the company can successfully execute a turnaround in 2025 and sustain its growth momentum [2].

Core Viewpoint - Silver prices have surged, reaching over $43 per troy ounce, the highest level since 2011, driven by a strong performance in gold prices and a weakening dollar [1] Group 1: Market Dynamics - The recent increase in precious metal prices is attributed to expectations that the Federal Reserve will cut interest rates by 25 basis points and implement further easing policies by the end of the year [1] - Geopolitical uncertainties and continued inflows into exchange-traded funds (ETFs) have also contributed to the rising demand for silver [1] Group 2: Demand Drivers - Over half of global silver consumption comes from industries such as solar panels, electric vehicles, and electronics, indicating a strong industrial demand for silver [1]

Group 1: Technological Advancements in Energy - The world's first fourth-generation nuclear power plant, Huaneng Shidao Bay High-Temperature Gas-Cooled Reactor, has commenced operation [1] - The first carbon fiber subway train has been put into commercial operation, showcasing advancements in transportation technology [1] - The world's first 12-inch silicon carbide substrate and large-size lithium niobate crystal have been launched, indicating progress in semiconductor materials [1] Group 2: Perovskite Solar Cell Development - Perovskite, a natural oxide mineral, is identified as a key material for third-generation solar cells due to its high light absorption and low cost [2] - Shandong has initiated a plan to advance the perovskite solar cell industry, with the Shandong Energy Research Institute designated as the leading unit for research and development [2][3] - A pilot production line for 100 megawatt perovskite solar cells has been established in Shandong, marking a significant milestone in the region's solar energy capabilities [3] Group 3: Carbon Capture and Utilization (CCUS) in Oil Extraction - The first million-ton CCUS project in China, the Sinopec Qilu Petrochemical-Victory Oilfield project, has been successfully implemented, capable of reducing carbon dioxide emissions by approximately 1 million tons annually [4][5] - The project has achieved a significant increase in oil production, with daily output rising from 220 tons to 450 tons after the injection of over 200,000 tons of CO2 [5] - The potential for CCUS technology in China is substantial, with an estimated 2 billion tons of oil geological reserves suitable for CO2-driven extraction [5] Group 4: Hydrogen Energy Innovations - The first hydrogen-electric tugboat in China, "Hydrogen Electric Tug 1," has been launched, featuring a hybrid system that achieves zero carbon emissions [6] - Shandong has become a leader in the hydrogen energy sector, with over 270 enterprises and research institutions involved in the "Hydrogen into Thousands of Homes" initiative [6][7] - Significant projects include the establishment of high-efficiency hydrogen purification systems and the first peak-shaving electrolysis hydrogen production project at a thermal power plant in China [7]

Core Insights - Dan Wang's perspective highlights the contrasting governance models of China and the United States, labeling China as an "engineering state" and the U.S. as a "lawyerly society" [5][6][21] - Wang's new book, "Breakneck: China's Quest to Engineer the Future," aims to clarify the significant changes occurring in China and has been recognized in the Financial Times' annual business book list [3][11] Governance Models - Wang argues that China's governance is characterized by practical and efficient problem-solving led by individuals with engineering backgrounds, while the U.S. is dominated by legal professionals who prioritize procedures over outcomes [5][6] - The difference in governance models has resulted in the U.S. struggling with infrastructure development, as exemplified by the comparison of train speeds between historical and current data [7][10] Industrial Capacity - By 2030, China is projected to account for 45% of global industrial capacity, while high-income economies, including the U.S., Europe, and Japan, will collectively hold only 38% [11] - Wang emphasizes that the inability of other countries to match China's industrial capacity is alarming and poses a significant challenge to global dynamics [13] Economic Development - Wang identifies 5% of China's economy, particularly in high-tech manufacturing, as exceptionally strong and a potential threat to Western interests, including sectors like electric vehicles and semiconductors [15] - The contrasting approaches to industrial policy between the U.S. and China are highlighted, with China consistently supporting strategic industries, while the U.S. has been more conservative until recent policy shifts [17][18] Technological Competition - Wang notes that U.S. sanctions against China have inadvertently accelerated China's push for technological self-sufficiency, particularly in semiconductors, as companies seek to reduce reliance on American technology [20] - The competitive landscape is further complicated by the shared traits of urgency and ambition among the populations of both countries, despite their perceived rivalry [21] Global Dynamics - Wang reflects on the slower pace of European and Japanese economies compared to the dynamic nature of U.S. and Chinese growth, suggesting that these regions may fall behind in the evolving global order [23]

Market Performance - The three major U.S. stock indices closed higher, with the Dow Jones Industrial Average up 0.11%, the S&P 500 up 0.47%, and the Nasdaq Composite up 0.94% [1] - The S&P 500 and Nasdaq reached new closing highs [1] Technology Sector - Major tech stocks saw significant gains, with Google rising over 4%, making it the fourth U.S. publicly traded company to surpass a market capitalization of $3 trillion [1] - Tesla and Oracle both increased by over 3% [1] Chinese Stocks - Most popular Chinese stocks experienced an upward trend, with the Nasdaq Golden Dragon China Index rising by 0.87% [1] - Notable performers included Xiaoma Zhixing up 10.94%, Canadian Solar up 10.28%, and Li Auto, Bilibili, and Daqo New Energy each rising up to 6.9% [1] - Other significant gains included JinkoSolar up 4.90%, NIO up 4.34%, Weibo up 3.67%, and various companies like Zhihu, EHang, and Xpeng Motors at least up 2.22% [1] - Tencent Music, Zeekr, and Alibaba saw increases of at least 1.92% [1]

Core Insights - The article highlights a significant downturn in clean energy investments in the U.S., with a potential loss of $500 billion due to policy shifts under the Trump administration [4][9][10] Group 1: Policy Impact - A report from Rhodium Group indicates that the Trump administration's policy changes could reduce the U.S. decarbonization rate by more than 50% [5][6] - The "One Big Beautiful Bill Act" is projected to cut the scale of new clean power projects in the U.S. by 53% to 59% over the next decade [4][8] - The U.S. Environmental Protection Agency (EPA) is proposing to repeal the 2009 "endangerment finding," which could lead to a sharp decline in solar and wind capacity and electric vehicle adoption [6][7] Group 2: Market Trends - Wind turbine orders are expected to drop by approximately 50% in the first half of 2025, with power purchase agreements (PPAs) also seeing a significant decline [4][10] - The solar industry may lose 44 gigawatts (GW) of installed capacity by 2030, representing an 18% decrease due to the new policies [9][10] - The clean energy project development pipeline is experiencing nearly zero growth, with solar installations down by 23% in the first half of 2025 [10] Group 3: Economic Implications - The anticipated policy changes are expected to create new economic pressures on clean energy technology manufacturing, which is linked to nearly $150 billion in investments [9] - The uncertainty stemming from federal policy actions is making the business environment for the solar industry increasingly challenging [10]

Summary of Key Points Core Viewpoint - The announcement details the share reduction results of a shareholder holding less than 5% in Arctech Solar Technology Co., Ltd, specifically regarding the reduction of shares by Wuxi Yuanhe Chongyuan YouNeng Venture Capital Partnership (Limited Partnership) [1][2]. Group 1: Shareholder's Basic Situation - Before the reduction plan, Wuxi Yuanhe held 131,770,537 shares, accounting for 3.57% of the company's total share capital [2]. Group 2: Implementation Results of the Reduction Plan - As of September 11, 2025, Wuxi Yuanhe had reduced its holdings by 56,432,173 shares, which is 1.53% of the total share capital. This included 36,882,173 shares (1%) sold through centralized bidding and 19,550,000 shares (0.53%) sold through block trading [3]. - The reduction plan was completed within the disclosed time frame, and the actual reduction met the previously announced minimum reduction quantity [5].

Core Viewpoint - DBS has a long-term optimistic outlook for the Hong Kong stock market despite short-term profit-taking pressures and geopolitical concerns, driven by sectors like artificial intelligence, batteries, and biotechnology [1] Group 1: Market Performance and Outlook - The Hong Kong stock market has risen 4.5% since September, reaching a new high for the year, despite performance divergence among companies and ongoing deflation concerns in mainland China [1] - The influx of southbound capital is attributed to a pullback in A-shares after a rapid rise and regulatory actions to cool the market [1] - The Hang Seng Index (HSI) valuation has become more attractive amid a global market rally driven by liquidity, despite slight earnings downgrades for mid-term corporate performance [1][2] Group 2: Target Adjustments and Valuation - DBS raised its 12-month target for the HSI to 28,000 points from 26,000 points, reflecting updated earnings forecasts for 2025 and 2026 at -2.2% and 12.1% respectively [2] - The valuation multiple forecast was increased from 11.6 times to 13 times, assuming the HSI's valuation gap with the MSCI All Country World Index will return to its ten-year average [2] - The current risk premium model aligns with the new target, currently at 5.8%, with expectations that it will compress to 5.4%-5.5% [2] Group 3: Sector Preferences and Stock Picks - DBS maintains a preference for technology and non-bank financial sectors, with ongoing anti-involution measures creating trading opportunities in solar and battery sectors [3] - The consumer sector's valuation has become reasonable, upgraded to neutral, with a stock pick change from Zhongchao Innovation (03931) to Trip.com Group (09961) to capture the recovery in the tourism industry ahead of the National Day holiday [3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 註： 2025年7月，本公司新疆、黑龍江、遼寧省內全部光伏項目，及河北省內部分光伏項目已完成剝離，已不在公司合 併財務報表範圍內，當月起不再計入發電數據。 根據本公司初步統計，2025年8月，本集團按合併報表口徑完成輸╱售氣量33,564.66萬立方米，同比 減少18.75%，其中售氣量28,677.24萬立方米，同比減少17.74%；代輸氣量4,887.42萬立方米，同比 減少24.23%。截至2025年8月31日，累計完成輸╱售氣量352,340.17萬立方米，同比減少15.76%，其 中售氣量319,058.23萬立方米，同比減少12.76%；代輸氣量33,281.94萬立方米，同比減少36.65%。 | | | 輸╱售氣量 | | | | --- | --- | --- | --- | --- | | | 2025年8月 | 同比變動 | 2025年1-8月 | 同比變動 | | | （萬立方米 ...