9月30日，吉鑫科技跌9.95%，成交额16.00亿元。两融数据显示，当日吉鑫科技获融资买入额1.20亿 元，融资偿还1.16亿元，融资净买入373.37万元。截至9月30日，吉鑫科技融资融券余额合计2.21亿元。 融资方面，吉鑫科技当日融资买入1.20亿元。当前融资余额2.21亿元，占流通市值的4.06%，融资余额 超过近一年50%分位水平，处于较高位。 融券方面，吉鑫科技9月30日融券偿还200.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00 元；融券余量8900.00股，融券余额4.99万元，超过近一年80%分位水平，处于高位。 资料显示，江苏吉鑫风能科技股份有限公司位于江苏省江阴市云亭街道工业园区那巷路8号，成立日期 2003年12月19日，上市日期2011年5月6日，公司主营业务涉及从事大型风力发电机组零部件的研发、生 产及销售。主营业务收入构成为：轮毂、底座等主产品82.16%，风力发电17.17%，其他(补充)0.66%。 截至6月30日，吉鑫科技股东户数5.47万，较上期减少10.27%；人均流通股17716股，较上期增加 11.44%。2025年1月-6月，吉鑫科技实现营业收 ...

Market Outlook - The market is expected to continue the upward trend observed in September, maintaining a low-slope oscillating movement in October, with a high probability of an upward trend due to the low base effect from last year and anticipated earnings growth in most industries [1][2] - The upcoming Fourth Plenary Session and the introduction of the 15th Five-Year Plan are expected to influence market expectations and trading directions, maintaining a high risk appetite in October [2] Industry Recommendations - Key sectors to focus on include non-ferrous metals, power equipment, machinery, automotive, electronics, and media, particularly those with sustained high prosperity and potential for turnaround [1][3][7] - Specific recommendations include industrial metals, precious metals, photovoltaic equipment, batteries, automation equipment, passenger vehicles, semiconductor, consumer electronics, and gaming [3][7] Investment Style and Fund Flows - The market is leaning towards a large-cap style in October, with growth expected to continue to outperform, and a more balanced industry style [3] - There is a positive outlook for net inflows of incremental funds in October, driven by financing funds and continued interest in industry and thematic ETFs [4][5] Economic and Liquidity Conditions - The macro liquidity environment is expected to remain stable, with the central bank maintaining a supportive monetary policy, which is crucial for market stability [4] - The overall funding supply is improving, with a notable increase in the issuance of equity funds and a shift from net redemptions to net subscriptions in ETFs [5] Earnings and Sector Performance - The third-quarter earnings report is anticipated to show significant growth in sectors such as high-end manufacturing, AI industry chain, and essential consumer goods, driven by low base effects and policy support [6][7] - The sectors with the highest expected earnings growth include mid-to-high-end manufacturing, AI-related industries, and certain resource products [6]

Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [2][7]. Core Views - The successful production of green methanol at the 500,000-ton green hydrogen project by Goldwind Technology marks a significant step in the company's transition from wind power solutions to green energy solutions, establishing a solid foundation for future growth [3][8]. - The company is expected to capitalize on the long-term growth opportunities in the global wind power market while leveraging green methanol to create a second growth curve, thus expanding its presence in the global green energy market [3][8]. Financial Projections - The company is projected to achieve net profits of 2.698 billion, 3.673 billion, and 4.496 billion yuan for the years 2025, 2026, and 2027, respectively, representing year-on-year growth rates of +45%, +36%, and +22% [3][9]. - Earnings per share (EPS) are expected to be 0.64, 0.87, and 1.06 yuan for the same years, with dynamic price-to-earnings (PE) ratios of 23.4, 17.2, and 14.1 times [3][9]. Project Highlights - The green methanol project is recognized as one of the first batch of national pilot projects for green liquid fuel technology, which will receive priority support in terms of manufacturing loans and policy incentives [4]. - The project utilizes corn straw as the gasification raw material, producing 70,000 Nm3/h of synthesis gas, making it the largest biomass gasifier in the world in terms of single furnace scale [4].

Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [2][7]. Core Views - The successful production of green methanol at the 500,000-ton green hydrogen project in Inner Mongolia marks a significant milestone for the company, establishing a solid foundation for its strategic transition from wind power solutions to green energy solutions [3][8]. - The company is expected to capitalize on the long-term growth opportunities in the global wind power market while leveraging green methanol to create a second growth curve, thereby expanding its presence in the global green energy market [3][8]. Financial Projections - The company is projected to achieve net profits of 2.698 billion, 3.673 billion, and 4.496 billion yuan for the years 2025, 2026, and 2027, respectively, representing year-on-year growth rates of +45%, +36%, and +22% [3][9]. - Earnings per share (EPS) are expected to be 0.64, 0.87, and 1.06 yuan for the years 2025, 2026, and 2027, with dynamic price-to-earnings (PE) ratios of 23.4, 17.2, and 14.1 times [3][9]. Project Highlights - The green methanol project utilizes corn straw as the gasification feedstock, producing 70,000 Nm³/h of synthesis gas (CO+H2), making it the largest biomass gasifier in the world in terms of single furnace scale [4]. - The project has been recognized as one of the first batch of national pilot projects for green liquid fuel technology, which will receive priority support in terms of manufacturing loans and policy incentives [4].

十月，新一轮行情才刚刚拉开帷幕。老周合上咖啡馆的门，将大金重工与宏柏新材的研报小心翼翼地塞进公文包，口中喃喃自语："真正的机会，往往隐 藏在冰冷的数据背后，不能只盯着那些热闹的新闻头条。"他一边说着，一边又打开了最新的行业研究报告，自言自语道："有机硅、风电设备这些板块 里，估计还有被市场低估的潜力股，价格已经触底反弹，成本优势明显，值得重点关注的龙头公司，都要仔细研究一番。" 回溯到九月，盘面上早已透露出蛛丝马迹。机构投资者早已悄然潜入，开始秘密建仓，而散户们却仍在迷雾中徘徊，犹豫着是否应该追高，生怕成为被 收割的韭菜。真正的"主角"，总是在官方公告发布之前，就已经稳坐钓鱼台，而剩下的"观众"，只能亦步亦趋地跟随，盲目地摇旗呐喊。 宏柏新材的异动同样引人注目。九月，高盛、摩根等国际投行对宏柏新材的调研记录，一次又一次地出现在交易所的公告栏上。官方的公告措辞含糊， 实则暗示着明确的信息：外资已经盯上了这家公司，订单已经排满，利润即将迎来翻倍式增长，而新能源胶黏剂，正是这个新故事的核心驱动力。公司 二季度的出货量环比暴涨200%，三季度接到的订单更是像堆积木一样，源源不断。雪球上有网友调侃道："这技术壁垒，比隔 ...

Group 1 - Double-Helix Pharmaceutical announced that its associate, Changfeng Pharmaceutical, is expected to be listed on the Hong Kong Stock Exchange on October 8, 2025, with a global offering of 41.198 million shares priced at HKD 14.75 each. Double-Helix holds approximately 3.68% of Changfeng's shares, with a lock-up period of 12 months post-listing [1] - Changfeng Pharmaceutical is involved in the pharmaceutical industry, specifically in the research and development of gene-engineered drugs [2] Group 2 - Lio Corporation has submitted an application to the Hong Kong Stock Exchange for issuing H-shares and listing on the main board [3] - Lio Corporation operates in the mechanical manufacturing and digital marketing sectors [3] Group 3 - Changjiang Securities received approval from the China Securities Regulatory Commission to issue corporate bonds totaling no more than CNY 20 billion, valid for 24 months [4] - Changjiang Securities provides services such as securities and futures brokerage, financial product distribution, investment advisory, asset custody, and margin financing [4] Group 4 - Jingye Intelligent plans to acquire 51% of Hefei Shengwen Information Technology for CNY 108 million, focusing on engineering information technology and intelligent products [5][6] - Jingye Intelligent specializes in the research, development, production, and sales of special robots and intelligent equipment systems [6] Group 5 - Aimeike's subsidiary received approval for the registration of Minoxidil topical solution, a non-prescription drug for treating hair loss [7][8] - Aimeike is engaged in the research, development, production, and sales of biomedical materials and biopharmaceuticals [8] Group 6 - Dalian Heavy Industry expects a net profit of CNY 474 million to CNY 508 million for the first three quarters of 2025, representing a year-on-year increase of 19.91% to 28.52% [9] - Dalian Heavy Industry specializes in the design, manufacturing, assembly, and installation of major technical equipment [9] Group 7 - Huayou Cobalt signed supply agreements with LGES for a total of approximately 76,000 tons of ternary precursor products from 2026 to 2030 [10][11] - Huayou Cobalt focuses on the research, manufacturing, and sales of new energy lithium battery materials and cobalt new materials [11] Group 8 - Zhenjiang Co. plans to reduce its shareholding by up to 5.529 million shares, not exceeding 3% of the total share capital, due to personal funding needs [12] - Zhenjiang Co. is involved in the design, processing, and sales of wind power equipment and components [12] Group 9 - Watson Bio's subsidiary received a drug registration certificate for a 13-valent pneumococcal polysaccharide conjugate vaccine for children [14][15] - Watson Bio specializes in the research, development, production, and sales of human vaccines and biopharmaceuticals [15] Group 10 - Yikang Pharmaceutical's major shareholder plans to reduce holdings by up to 42 million shares, not exceeding 2.04% of the total share capital, due to personal funding needs [16] - Yikang Pharmaceutical is engaged in the production and sales of excipients, raw materials, finished drugs, and new energy materials [16] Group 11 - Sichuan Gold's shareholder plans to reduce holdings by up to 7.56 million shares, accounting for 1.80% of the total share capital [19] - Sichuan Gold focuses on the construction, mining, and sales of gold mines [19] Group 12 - Kangchen Pharmaceutical received approval for a clinical trial of an innovative drug for treating advanced esophageal squamous cell carcinoma [20][21] - Kangchen Pharmaceutical specializes in the manufacturing of chemical drug formulations [21] Group 13 - UCloud plans to repurchase shares worth between CNY 8 million and CNY 10 million for employee stock ownership plans [22] - UCloud provides cloud computing services centered on IT infrastructure [22] Group 14 - Woton Technology announced an adjustment to its share repurchase plan, raising the price cap to CNY 60 per share [24] - Woton Technology specializes in the research, manufacturing, and sales of separation membrane products [24] Group 15 - Five Continents Medical announced plans for shareholders to reduce holdings by up to 126,530 shares, accounting for 1.8606% of the total share capital [26] - Five Continents Medical focuses on the research, manufacturing, and sales of disposable sterile infusion medical devices [26] Group 16 - CIMC Group plans to repurchase A-shares with a total amount not exceeding CNY 5 billion [27] - CIMC Group specializes in logistics and energy equipment solutions [27] Group 17 - Zhifei Biological's subsidiary received a drug registration certificate for a trivalent influenza vaccine suitable for individuals aged 3 and above [29][30] - Zhifei Biological is involved in the research, development, production, and sales of vaccines and biological products [30]

证券日报网讯 威力传动（300904）9月30日发布公告，在公司回答调研者提问时表示，风电增速器智慧 工厂的"智慧"主要体现在以下几个方面：（1）智能物流与仓储管理：工厂集成了AGV、立体库等设 备，并结合SAP、MES等管理系统和智慧物流的仓库智能化调度管理系统，实现了增速器原材料、成品 等储装运的统计、设备统筹调度、远程故障维护等一体化管控，确保产品全流程智能化运输及存储。 （2）生产过程自动化与信息化：机加车间内，每块加工部件和物料周转筐都有专属二维码"数字身份 证"，通过MES终端扫描，可清晰呈现原材料进厂、部件加工到成品组装的全流程信息。（3）智能检测 与质量管控：公司设立了质量保证中心，建立了完善的质量管理制度，并搭建专业试验台，有效保证了 产品的质量水平及可靠性。（4）数字化研发平台：通过PLM系统与APQP4Wind工具的融合，对研发质 量进行管理，以项目管理形式实现BOM的管理、变更管理、技术文件管理以及项目进度的管理，有效 解决在研发质量管控过程中的问题，缩短研发周期，提高研发效率。 ...

证券日报网讯威力传动（300904）9月30日发布公告，在公司回答调研者提问时表示，风电增速器智慧 工厂(一期)完全达产后年新增风电增速器产能2，000台。目前，风电增速器智慧工厂(一期)正处于建设 期关键推进阶段，核心生产设备已基本完成到厂部署，为后续产能释放奠定了硬件基础。不过，由于工 厂仍处于产能爬坡初期，当前存在三方面阶段性因素影响产能完全释放：一是生产团队需进一步提升操 作熟练度，确保设备精准运行；二是产线各环节仍在持续优化衔接，需逐步实现全流程高效贯通；三是 部分设备仍处于调试与性能校准阶段，以保障长期运行稳定性。基于上述情况，工厂产能将遵循"稳步 爬坡、逐步释放"的节奏推进，后续公司会持续跟踪产线磨合、人员培训及设备调试进度，待各环节成 熟后逐步向设计产能靠拢。 ...

证券日报网讯威力传动（300904）9月30日发布公告，在公司回答调研者提问时表示，风电增速器智慧 工厂建设对提升公司竞争力意义重大。从市场战略看，项目契合风机大型化、智能化趋势，建成后解决 目前行业陆上大功率增速器配套的需求，促进重型装备产业链发展，助力业务拓展。在产能效率方面， 智慧工厂引入智能化产线，可提升生产效率、缩短交付周期。经营效益上，风电增速器单台价值高，新 增产能释放将扩大业务规模，带来收入和利润增长空间，补充流动资金也能优化财务结构，增强运营韧 性。 ...

Market Performance - The Hong Kong stock market closed September with a bullish trend, with the three major indices showing a fluctuating upward pattern and reaching new highs [1] - The Hang Seng Technology Index surged by 13.95% during the month, hitting a peak of 6475.92 points on the last trading day [1] - The Hang Seng Index increased by 7.09%, briefly surpassing the 27,000-point mark, while the National Enterprises Index rose by 6.79%, crossing the 9,500-point threshold [1] Sector Performance - Semiconductor stocks led the gains, with notable increases such as Hua Hong Semiconductor up by 48.7% and SMIC up by 31.5%, both reaching historical highs [1] - Gold, copper, wind power, lithium battery, and photovoltaic sectors also saw significant gains, with Lingbao Gold up by 31.69%, Zhaojin Mining up by 29.71%, and Zijin Mining up by 28.66%, among others, all achieving historical price highs [1] - Wind power leader Goldwind Technology experienced a remarkable increase of 58.55% [1] Major Technology Stocks - Major technology stocks performed strongly, with Alibaba rising by 52.98%, Baidu by 48.99%, JD.com by 17.57%, and NetEase by 11.49%, all reaching new highs [1] - Other notable increases included Kuaishou up by 12.97%, Tencent by 11.15%, Xiaomi by 2.18%, and Meituan by 1.75% [1]