Core Viewpoint - Haili Wind Power's stock price has increased by 5.07% on September 26, reaching 95.90 CNY per share, with a trading volume of 237 million CNY and a turnover rate of 2.04%, resulting in a total market capitalization of 20.848 billion CNY. The stock has seen a cumulative increase of 4.61% over the past three days [1]. Company Overview - Jiangsu Haili Wind Power Equipment Technology Co., Ltd. was established on August 18, 2009, and listed on November 24, 2021. The company is located in the Jiangsu Province and focuses on the research, production, and sales of wind power equipment components, agricultural machinery, port machinery, and environmental protection machinery [1]. - The main business revenue composition includes: 77.04% from foundations, 14.38% from wind power towers, 6.72% from conductors, and 1.85% from other sources [1]. Fund Holdings - Haili Wind Power is a significant holding in the Huafu New Energy Stock Fund A (012445), which held 210,000 shares in the second quarter, accounting for 2.82% of the fund's net value, ranking as the eighth largest holding. The fund has realized a floating profit of approximately 972,300 CNY today, with a floating profit of 844,200 CNY during the three-day increase [2]. - The Huafu New Energy Stock Fund A was established on June 29, 2021, with a current scale of 252 million CNY. Year-to-date returns are 57.92%, ranking 390 out of 4220 in its category, while the one-year return is 75.95%, ranking 1008 out of 3824 [2]. - The fund manager, Shen Cheng, has been in position for 3 years and 273 days, with a total asset scale of 1.661 billion CNY. The best fund return during his tenure is 72.93%, while the worst is 11.08% [2].

Market Overview - The A-share market opened lower with all three major indices declining: Shanghai Composite Index down 0.35%, Shenzhen Component Index down 0.38%, and ChiNext Index down 0.42% [1] Sector Performance - Wind power equipment stocks saw an initial surge, with Tianeng Heavy Industry (300569) rising over 15% and Yangming Intelligent increasing over 8%, following China's announcement of a third round of emission reduction targets [1] - The oil and gas extraction and service sector opened higher, with China National Petroleum Engineering (600339) up over 5% and JunOil Co. rising over 3%, as WTI crude oil prices surpassed $65 per barrel overnight [1] - Coal stocks were partially active, with Dayou Energy (600403) hitting the daily limit and Pingmei Shenma Group (601666) increasing over 5%, as Henan Energy Group and Pingmei Shenma Group plan a strategic reorganization [1] - The photolithography machine sector experienced a pullback, with Kaimete Gas (002549) dropping over 7%, and United Chemical and Blue Eagle Equipment (300293) falling over 2% [1] - The pharmaceutical sector saw initial declines, with Maiwei Biotech and Rongchang Biotech both decreasing over 4% [1]

Market Overview - The three major A-share indices opened lower, with the Shanghai Composite Index down 0.35% and the ChiNext Index down 0.42%. Sectors such as photolithography machines, storage chips, and CPO experienced significant declines [1] Institutional Insights - CITIC Securities emphasizes a focus on resources, new productive forces, and overseas expansion as the framework for industry selection. The shift of resource stocks from cyclical to dividend attributes, driven by supply constraints and global geopolitical tensions, is expected to lead to a revaluation of these stocks. The anticipated volatility from the Federal Reserve's interest rate cuts is considered negligible. The key mid-term insight is the globalization of China's manufacturing leaders, which is expected to convert market share advantages into pricing power and profit margin improvements, leading to market capitalization growth that surpasses domestic economic fundamentals [2] - Guojin Securities believes that a bull market driven by the recovery of China's profit fundamentals may be in the making. With the easing of liquidity constraints, there may be a rebound in Hong Kong stocks that experienced stagnation from June to August. Additionally, growth investments are expected to shift from technology-driven to export-oriented. Opportunities in cyclical manufacturing sectors (non-ferrous metals, machinery, chemicals) are anticipated to become the mid-term focus. The recommended sectors include upstream resources (copper, aluminum, oil, gold), capital goods (engineering machinery, heavy trucks, lithium batteries, wind power equipment), and raw materials (basic chemicals, fiberglass, paper, steel) [3]

A股开盘，三大指数集体低开，沪指低开0.35%，深证成指低开0.38%，创业板指低开0.42%。盘面上， 风电设备股盘初拉升，天能重工涨超15%，阳明智能涨超8%，中国设定第三轮减排目标；油气开采及 服务板块高开，中油工程涨超5%，准油股份涨超3%，隔夜WTI原油突破65美元/桶；煤炭股局部活跃， 大有能源涨停，平煤股份涨超5%，河南能源集团与平煤神马集团将进行战略重组；光刻机板块回调， 凯美特气跌超7%，联合化学、蓝英装备跌超2%；制药板块盘初走低，迈威生物、荣昌生物跌超4%，美 国将对多类进口产品实施新一轮高额关税。(格隆汇) ...

Core Viewpoint - Jiangsu Haili Wind Power Equipment Technology Co., Ltd. has shown significant growth in revenue and net profit, indicating strong performance in the wind power equipment sector [2][3]. Financial Performance - For the period from January to June 2025, the company achieved operating revenue of 2.03 billion yuan, representing a year-on-year increase of 461.08% [2]. - The net profit attributable to the parent company was 205 million yuan, reflecting a year-on-year growth of 90.61% [2]. Shareholder Information - As of September 10, 2025, the number of shareholders was 15,800, a decrease of 1.74% from the previous period [2]. - The average circulating shares per person increased by 1.77% to 7,821 shares [2]. - The company has distributed a total of 237 million yuan in dividends since its A-share listing, with 41.30 million yuan distributed in the last three years [3]. Financing and Margin Trading - On September 25, 2025, Haili Wind Power's financing buy-in amounted to 37.27 million yuan, with a net buy of 369,200 yuan [1]. - The total margin trading balance was 187 million yuan, with the financing balance accounting for 0.93% of the circulating market value, which is below the 10% percentile level over the past year [1]. - The company had a high margin balance of 2.22 million shares, exceeding the 90% percentile level over the past year [1].

Core Viewpoint - Mingyang Smart Energy (601615.SH) has announced a stock option incentive plan for 2025, aiming to grant 20 million stock options to selected individuals, representing 0.8805% of the company's total share capital at the time of the announcement [1] Group 1 - The stock options will be granted in a one-time allocation without any reserved rights [1] - A total of 260 individuals will be the recipients of the stock options [1] - The exercise price for the stock options is set at 14.03 yuan per share [1]

格隆汇9月25日丨金风科技(002202.SZ)公布，收到股东和谐健康保险股份有限公司-万能产品（简称"和 谐健康"）出具的《关于减持股份触及1%整数倍的告知函》，和谐健康于2025年9月22日至2025年9月24 日期间通过集中竞价方式累计减持公司股份57,141,854股，占公司总股本的比例为1.352448%，占剔除 公司回购专用账户中的股份数量后总股本的比例为1.353354%。本次权益变动后，和谐健康持有公司股 份数量由422,506,671股减少至365,364,817股，占公司总股本的比例由9.999998%减少至8.647550%，占 剔除公司回购专用账户中股份数量后总股本的比例由10.006696%减少至8.653342%，权益变动触及1%的 整数倍。 ...

智通财经APP讯，金风科技(02208)公布，2025年9月25日，公司收到股东和谐健康保险股份有限公司-万 能产品(以下简称"和谐健康")出具的《关于减持股份触及1%整数倍的告知函》，和谐健康于2025年9月 22日至 2025年9月24日期间通过集中竞价方式累计减持公司股份57,141,854 股，占公司总股本的比例为 1.352448%，占剔除公司回购专用账户中的股份数量后总股本的比例为1.353354%。 本次权益变动后，和谐健康持有公司股份数量由422,506,671股减少至365,364,817股，占公司总股本的比 例由9.999998%减少至8.647550%，占剔除公司回购专用账户中股份数量后总股本的比例由10.006696% 减少至8.653342%，权益变动触及1%的整数倍。 ...

Core Viewpoint - Harmony Health Insurance Co., Ltd. reduced its stake in Goldwind Technology (002202.SZ) by selling 57,141,854 shares, representing 1.352448% of the company's total share capital, which indicates a significant change in shareholder structure [1] Summary by Relevant Sections - **Shareholder Action** - Harmony Health Insurance sold a total of 57,141,854 shares of Goldwind Technology from September 22 to September 24, 2025 [1] - Following this transaction, Harmony Health's shareholding decreased to 365,364,817 shares, which now constitutes 8.647550% of the total share capital [1]

Market Overview - A-shares experienced slight fluctuations today, with technology growth stocks being relatively active, as the ChiNext Index and the Sci-Tech Innovation 50 both rose over 1%, reaching a three-and-a-half-year high [1] - The Shenzhen Component Index and CSI 300 also hit new highs, while the Shanghai Composite Index fluctuated around yesterday's closing level, with over 3,900 stocks declining and a total turnover of 2.39 trillion yuan [1] Sector Performance - Sectors such as new energy power, gaming, non-ferrous metals, and communication equipment saw significant gains, while precious metals, environmental protection equipment, professional chains, and ground military equipment experienced notable declines [1] Fund Flow Analysis - The computer industry attracted over 14.2 billion yuan in net inflow from major funds, while electric power equipment and communication sectors saw net inflows of over 9.4 billion yuan and 7.8 billion yuan, respectively [3] - Conversely, transportation faced a net outflow of over 2 billion yuan, with defense, real estate, and food and beverage sectors also experiencing net outflows exceeding 1 billion yuan [3] Market Outlook - Dongwu Securities noted that historical data suggests a style switch in the fourth quarter, with lower probabilities for previously leading sectors to continue their upward trend [3] - Investors are likely to take profits from previously strong sectors and shift towards defensive sectors to stabilize annual returns, with cyclical styles entering a trading window [3] - Pacific Securities indicated that market volatility is increasing as the holiday approaches, with a decline in the market's profit-making effect and overall risk appetite [3] New Energy Sector Insights - The new energy power sector showed collective strength, with the controllable nuclear fusion sector index reaching a historical high, and other power generation equipment indices surging over 4%, marking a ten-year high [3] - The wind power equipment sector also reached a two-and-a-half-year high, while photovoltaic equipment showed strong upward momentum [3] Industry Events - The "2025 New Power System Development Forum" was held in Hebei, focusing on the theme of "Green Development, Co-creating the Future," discussing innovative developments in new power systems [5] - The National Energy Administration emphasized the urgency of constructing a new power system, highlighting key actions outlined in the "Action Plan for Accelerating the Construction of a New Power System (2024-2027)" [5] Stock Performance - Companies such as Hanhua Huatong and Shanghai Electric saw significant stock price increases, with Shanghai Electric's trading volume exceeding 12 billion yuan [6] - However, some previously popular stocks experienced sharp declines, with Hangzhou Electric and others facing consecutive trading halts [7]