Investment Rating - The report maintains an "Overweight" rating for the electric equipment and new energy industry [2] Core Viewpoints - The report suggests focusing on the new energy storage segment, highlighting the need for system-friendly new energy power plants to address the instability of renewable energy output [2][39] - The report emphasizes the importance of enhancing the predictive accuracy of wind and solar power generation to improve grid integration [39] - It recommends paying attention to leading inverter companies that benefit from the development of new energy storage technologies [39] Market Review - As of August 28, 2025, the electric equipment industry has increased by 6.08% over the past two weeks, underperforming the CSI 300 index by 0.88 percentage points, ranking 9th among 31 industries [11] - The electric equipment industry has risen by 11.88% this month, outperforming the CSI 300 index by 2.35 percentage points, ranking 7th [11] - Year-to-date, the electric equipment sector has increased by 15.01%, outperforming the CSI 300 index by 1.56 percentage points, ranking 16th [11] Valuation and Industry Data - As of August 28, 2025, the PE (TTM) for the electric equipment sector is 28.32 times, with sub-sectors showing varied valuations: - Electric motor II: 57.18 times - Other power equipment II: 54.33 times - Photovoltaic equipment: 21.08 times - Wind power equipment: 35.53 times - Battery: 27.20 times - Grid equipment: 26.13 times [22][25] Industry News - The report discusses the Chinese government's initiatives to promote green and low-carbon urban development, emphasizing energy efficiency and the adoption of advanced technologies [35] - It highlights the National Energy Administration's focus on enhancing the adaptability of the power system to renewable energy, including the construction of a new power system and the promotion of energy storage solutions [36] Company Announcements - The report includes recent financial performance announcements from various companies, such as: - GreenMe achieved a revenue of 17.56 billion yuan in the first half of 2025, a year-on-year increase of 1.28% [41] - XianDai Intelligent reported a revenue of 6.61 billion yuan, up 14.92% year-on-year [41] - Euro Continental's revenue reached 2.12 billion yuan, reflecting a growth of 32.59% [41]

Core Viewpoint - Kstar Technology's stock has shown significant growth this year, with a year-to-date increase of 66.55% and a recent surge in trading activity, indicating strong investor interest and market performance [1][2]. Company Overview - Kstar Technology, established on March 17, 1993, and listed on December 7, 2010, is based in Shenzhen, China. The company specializes in the research, production, sales, and service of UPS systems and valve-regulated sealed lead-acid batteries [1]. - The company's revenue composition is as follows: 61.44% from the data center industry, 37.60% from the renewable energy sector, and 0.96% from other sources [1]. Financial Performance - For the first half of 2025, Kstar Technology reported a revenue of 2.163 billion yuan, representing a year-on-year growth of 14.35%. The net profit attributable to shareholders was 255 million yuan, reflecting a 16.49% increase compared to the previous year [2]. - Cumulatively, Kstar has distributed 1.544 billion yuan in dividends since its A-share listing, with 602 million yuan distributed over the last three years [3]. Shareholder Information - As of July 31, 2025, Kstar Technology had 68,000 shareholders, an increase of 3.03% from the previous period. The average number of tradable shares per shareholder decreased by 2.94% to 8,310 shares [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited as the second-largest shareholder, holding 8.2408 million shares, an increase of 5.1697 million shares from the previous period [3].

Core Insights - The company reported an increase in shareholder accounts, reaching 88,709 as of June 30, 2025, which is a 4.46% increase from March 31, 2025 [1] - The average number of shares held per account decreased from 7,217 to 6,908, with an average market value of 39,300 yuan per account [1][2] - The company's stock price increased by 12.01% during the period from March 31, 2025, to June 30, 2025, coinciding with the increase in shareholder accounts [1][2] Shareholder Statistics - As of June 30, 2025, the company had 88,709 shareholders, an increase of 3,789 accounts, representing a 4.46% growth [2] - The average market value of shares held by shareholders was 39,300 yuan, which is below the industry average of 231,700 yuan [1][2] - The average number of shares held per account decreased to 6,908 from 7,217 [1][2] Stock Performance - The stock experienced a price increase of 12.01% from March 31, 2025, to June 30, 2025 [1][2] - During this period, the company saw a net outflow of 60.7357 million yuan from major funds, while retail investors contributed a net inflow of 58.1651 million yuan [2] - The stock was listed on the "Dragon and Tiger List" once during this period, indicating notable trading activity [2]

证券之星消息，8月27日其他电源设备板块较上一交易日上涨0.27%，麦格米特领涨。当日上证指数报收 于3800.35，下跌1.76%。深证成指报收于12295.07，下跌1.43%。其他电源设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002851 | 麦格米特 | 86.03 | 10.00% | 33.08万 | | 28.17亿 | | 688719 | 爱科赛博 | 42.50 | 6.06% | 5.09万 | | 2.17亿 | | 300870 | 欧陆通 | 262.00 | 4.85% | 9.91万 | | 26.24亿 | | 002364 | 中恒电气 | 27.03 | 4.77% | 122.92万 | | 33.15亿 | | 002335 | 科华数据 | 54.33 | 4.58% | 74.89万 | | 41.54亿 | | 300593 | 新富能 | 19.30 | 4.55% | 52.49万 | | 10. ...

从资金流向上来看，当日其他电源设备板块主力资金净流出3.12亿元，游资资金净流出3.2亿元，散户资 金净流入6.32亿元。其他电源设备板块个股资金流向见下表： 证券之星消息，8月26日其他电源设备板块较上一交易日下跌1.18%，优优绿能领跌。当日上证指数报收 于3868.38，下跌0.39%。深证成指报收于12473.17，上涨0.26%。其他电源设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002364 | 中恒电气 | 25.80 | 10.02% | 92.20万 | 23.32 Z | | 688551 | 科威尔 | 43.21 | 5.06% | 4.92万 | 2.11亿 | | 002851 | 麦格米特 | 78.21 | 3.99% | 61.20万 | 46.48 Z | | 688411 | 海博思创 | 111.60 | 2.57% | 1.26万 | 1.42亿 | | 002227 | 熨特迅 | 14.10 | 1.73% | 14.9 ...

Core Viewpoint - ST Huaxi reported a decrease in shareholder numbers and average shareholding value, indicating potential challenges in investor sentiment and stock performance [1][2]. Shareholder Statistics - As of June 30, 2025, ST Huaxi had 61,334 shareholders, a decrease of 475 shareholders or 0.77% from April 20, 2025 [1][2]. - The average number of shares held per shareholder increased from 19,100 to 19,300 shares [1][2]. - The average market value of shares held per shareholder was 52,600 yuan, significantly lower than the industry average of 228,400 yuan [1][2]. Stock Performance - From April 20, 2025, to June 30, 2025, ST Huaxi's stock price fell by 38.1%, coinciding with a reduction in shareholder numbers [1][2]. - The stock experienced a net outflow of 728 million yuan from major funds, while retail investors contributed a net inflow of 636 million yuan during the same period [2].

Group 1 - The core viewpoint of the news is that融发核电 has seen a significant increase in shareholder numbers and stock price performance over a recent period, indicating growing investor interest [1][2]. - As of June 30, 2025,融发核电 had 227,075 shareholders, an increase of 118,079 shareholders or 108.33% compared to March 31, 2025 [1][2]. - The average shareholding value per shareholder for融发核电 is 75,200 yuan, which is below the industry average of 229,900 yuan for other power equipment companies [1][2]. Group 2 - From March 31, 2025, to June 30, 2025,融发核电's stock price increased by 57.88%, coinciding with the significant rise in shareholder numbers [1][2]. - During this period, the net outflow of main funds was 2.026 billion yuan, while retail investors saw a net inflow of 3.324 billion yuan [2]. -融发核电 was listed on the龙虎榜 13 times in the last three months, with institutional and deep stock connection special seats appearing once each [2].

Market Performance - The other power equipment sector increased by 1.27% on August 22, with Tonghe Technology leading the gains [1] - The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1] Individual Stock Performance - Tonghe Technology (300491) closed at 25.71, rising by 12.32% with a trading volume of 380,100 shares and a transaction value of 9.45 billion [1] - Other notable performers include: - Oulu Tong (300870) at 268.75, up 6.23%, with a transaction value of 20.94 billion [1] - Kehua Data (002335) at 52.00, up 3.38%, with a transaction value of 22.75 billion [1] - New Power (300593) at 19.84, up 3.23%, with a transaction value of 5.07 billion [1] Capital Flow Analysis - The other power equipment sector saw a net inflow of 233 million from institutional investors, while retail investors contributed a net inflow of 47.09 million [2] - Notable capital flows include: - Oulu Tong (300870) had a net inflow of 237 million from institutional investors but a net outflow of 57.86 million from retail investors [3] - Kehua Data (002335) experienced a net inflow of 137 million from institutional investors and a net outflow of 59.54 million from retail investors [3]

（责任编辑：魏京婷） 中国经济网北京8月20日讯 A股三大指数今日集体上涨，截至收盘，上证指数报3766.21点，涨幅 1.04%，成交额10175.00亿元；深证成指报11926.74点，涨幅0.89%，成交额13907.34亿元；创业板指报 2607.65点，涨幅0.23%，成交额6435.39亿元。 | 序号 | 板块 | 涨跌幅(%)▼ | 总成交量 (万手) ▼ | 总成交额(亿元) ▼ | 净流入 (亿元) ▼ | 上涨家数 | 下跌家数 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 日酒 | 3.73 | 536.44 | 317.40 | 19.83 | 19 | 1 | | 2 | 小我屋 | 3.11 | 1941.11 | 510.31 | -6.12 | 21 | 5 | | 3 | 化学纤维 | 3.04 | 886.66 | 74.64 | 5.98 | 25 | 2 | | 4 | 厨卫电器 | 2.84 | 127.28 | 15.69 | 1.98 | 8 | 0 | | ਦੇ | 未含体 | 2.79 | ...

| 序号 | 板块 | 涨跌幅(%)▼ | 总成交量 (万手) = 总成交额 (亿元) ▼ | | 净流入 (亿元) ▼ | 上涨家数 | 下跌家数 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 白酒 | 3.87 | 412.56 | 233.57 | 20.37 | 20 | 0 | | 2 | 小我展 | 2.85 | 1437.62 | 370.36 | -3.79 | 21 | 5 | | 3 | 饮料制造 | 2.40 | 728.96 | 97.17 | 10.80 | 42 | 2 | | 4 | 旅游及酒店 | 2.14 | 725.99 | 72.47 | 3.31 | 31 | 3 | | 5 | 厨卫电器 | 1.62 | 95.55 | 11.10 | 1.37 | 6 | 1 | | 6 | 化学纤维 | 1.45 | 586.34 | 46.08 | 2.03 | 16 | 12 | | 7 | 食品加工制造 | 1.19 | 66.685 | 78.57 | 5.02 | 57 | 9 | | B | 工业等 ...