兆新股份（002256）将进一步拓宽公司新能源板块业务发展空间。 12月11日晚间，兆新股份公告，公司拟以现金支付方式收购优得新能源科技（宁波）有限公司（简 称"优得新能源"）70%股权。交易完成后，优得新能源将成为公司控股子公司。 至于本次交易对公司经营业绩的影响，兆新股份表示，本次签署的《股权收购意向协议》为合作各方就 标的股权收购事宜达成的框架性、意向性文件，相关交易仍处于筹划阶段。截至公告披露日，标的公司 审计、评估工作尚未完成，最终交易价格等核心条款存在不确定性。本次交易对公司经营业绩的具体影 响，需以最终审计评估结果及各方正式签署的交易协议为准。 资料显示，兆新股份以"精细化工+新能源"双主业协同发展为核心战略。据兆新股份2025年半年报，上 半年公司实现营业收入2.08亿元，其中精细化工与新能源业务收入各占1.04亿元。新能源板块以光伏电 站运营为核心抓手，凭借成熟电站管理经验与稳定消纳资源，持续创造稳定现金流。同时顺势拓展光伏 EPC配套服务与充电桩业务。 不久前，兆新股份于11月13日晚间发布公告，公司将联合国资股东，通过债转股模式完成青海锦泰钾肥 有限公司股权重组，将有望打造"新能源后市场 ...

Core Viewpoint - The company, Zhaoxin Co., Ltd. (002256.SZ), focuses on dual main businesses of "fine chemicals + new energy" for synergistic development, with no current involvement in the backlit production line business [1] Group 1: Fine Chemicals Segment - The fine chemicals segment targets high-value-added environmental protection markets, with core products including environmentally friendly functional coatings and materials, green household products, automotive maintenance products, and related aerosol products [1] - The segment aims to comprehensively cover diverse market demands [1] Group 2: New Energy Segment - The new energy segment centers on photovoltaic power station operations, ensuring stable electricity sales [1] - The company is expanding into photovoltaic EPC (Engineering, Procurement, and Construction) services and charging pile businesses, creating a business matrix that integrates "operations + engineering + charging" [1] - This approach is designed to continuously enhance the segment's overall profitability and market competitiveness [1]

（编辑 王雪儿） 证券日报网讯 11月28日，东方日升在互动平台回答投资者提问时表示，公司主营业务聚焦新能源业务 板块，以太阳能电池组件的研发、生产、销售为主，业务亦涵盖了光伏电站EPC、光伏电站运营、储能 领域等，主要处于光伏产业链的中游位置，并涉足光伏产业链的上游和下游。 ...

Group 1: Company Overview - The main business of Suzhou Hailu Heavy Industry Co., Ltd. remains unchanged, focusing on the manufacturing and sales of industrial waste heat boilers, large and special material pressure vessels, and nuclear safety equipment [1] - The company also provides environmental comprehensive governance services for solid waste and wastewater treatment and recycling, as well as photovoltaic power station operations [1] Group 2: Nuclear Power Business - The company supplies nuclear power equipment for various reactor types, including Generation II+, Generation III (Hualong One, Guohe One, AP1000, VVER, EPR), Generation IV (high-temperature gas-cooled reactors, sodium-cooled fast reactors, thorium molten salt reactors), and thermonuclear fusion reactors [1] - The nuclear safety equipment includes a wide range of components such as injection tanks, internal component lifting baskets, spent fuel coolers, and emergency water supply tanks, contributing to domestic nuclear power construction [2] - The ongoing investment in new Generation IV nuclear power equipment projects is progressing normally, which will effectively meet the manufacturing capacity demand for nuclear power upon production [2] Group 3: Future Strategic Planning - The company plans to deepen its core business while increasing efforts in technological innovation and management, enhancing management and cost control, and optimizing resource allocation to improve profitability and market competitiveness [2]

Core Viewpoint - JA Solar Technology is a leading player in the global photovoltaic industry, focusing on the research, production, and sales of silicon wafers, solar cells, and modules, with a comprehensive industry chain advantage [1] Group 1: Business Performance - In Q3 2025, JA Solar reported revenue of 36.809 billion yuan, ranking 4th in the industry, surpassing the industry average of 12.627 billion yuan but below the top competitors Longi Green Energy and Trina Solar [2] - The revenue breakdown shows that photovoltaic module revenue was 21.777 billion yuan, accounting for 91.10% of total revenue, while other business revenues were 1.399 billion yuan (5.85%) and photovoltaic power station operation revenue was 729 million yuan (3.05%) [2] - The net profit for the same period was -3.616 billion yuan, ranking 21st in the industry, which is lower than the industry average of -744 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, JA Solar's debt-to-asset ratio was 77.90%, higher than the previous year's 72.15% and above the industry average of 70.17% [3] - The gross profit margin for Q3 2025 was -2.60%, a decline from 5.40% in the previous year and below the industry average of 1.80% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 17.24% to 147,800, while the average number of circulating A-shares held per shareholder increased by 20.84% to 22,400 [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 214 million shares, a decrease of 7.3649 million shares from the previous period [5] Group 4: Management Compensation - The chairman and general manager, Jin Baofang, received a salary of 3.4764 million yuan in 2024, a decrease of 256,400 yuan from 2023 [4] Group 5: Market Insights - According to Western Securities, the price of centralized TOPCon modules rose to 0.685 yuan/W on September 24, 2025 [6] - In H1 2025, the company reported a revenue of 23.905 billion yuan and a net profit of -2.580 billion yuan, with a significant improvement in Q2 performance [6] - The company aims to achieve a module production capacity of 100 GW by the end of 2024, transitioning from p-type to n-type battery production [6]

证券代码：600821 证券简称：金开新能 公告编号：2025-079 金开新能源股份有限公司 关于公司 2025 年第三度主要经营数据的公告 本公司董事会及全体董事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、准确性和完整性承担法律责任。 根据《上海证券交易所上市公司自律监管指引第 3 号行业信息披露：第九号 ——光伏》的相关规定，鉴于公司从事光伏电站运营业务，现将公司 2025 年第 三季度并表范围内新能源电站的主要经营数据情况公告如下： | | 电站 | 装机容量 | 1-9 月发电 量 | 1-9 月上网 电量 | 1-9 月度结 算电量 | 上网电价 加权均价 | 第三季度发 电量 | 第三季度上 网电量 | 第三季度结 算电量 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 区域 | | | | | | （含补贴） | | | | | | | 类型 | （兆瓦） | （万千瓦 | （万千瓦 | （万千瓦 | （含税元/ | （万千瓦 | （万千瓦 | （万千瓦 | ...

Core Viewpoint - JinkoSolar Technology Co., Ltd. has experienced fluctuations in financing and stock performance, with significant changes in revenue and net profit reported for the first half of 2025 [1][2]. Financing Summary - On October 23, JinkoSolar's stock rose by 0.62%, with a trading volume of 532 million yuan. The financing buy-in amount was 32.80 million yuan, while the financing repayment was 46.56 million yuan, resulting in a net financing outflow of 13.76 million yuan [1]. - As of October 23, the total financing and securities lending balance for JinkoSolar was 555 million yuan, with the financing balance at 551 million yuan, accounting for 1.28% of the circulating market value, which is below the 10% percentile level over the past year [1]. - In terms of securities lending, JinkoSolar repaid 104,300 shares and sold 31,600 shares on October 23, with a selling amount of 411,400 yuan. The securities lending balance was 3.13 million yuan, exceeding the 80% percentile level over the past year [1]. Business Performance Summary - As of June 30, JinkoSolar had 178,600 shareholders, an increase of 3.53% from the previous period. The average circulating shares per person decreased by 3.41% to 18,512 shares [2]. - For the first half of 2025, JinkoSolar reported operating revenue of 23.90 billion yuan, a year-on-year decrease of 36.01%. The net profit attributable to shareholders was -2.58 billion yuan, a significant decline of 195.13% compared to the previous year [2]. Dividend and Shareholding Summary - Since its A-share listing, JinkoSolar has distributed a total of 3.06 billion yuan in dividends, with 2.42 billion yuan distributed over the past three years [3]. - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited as the second-largest shareholder with 221 million shares, a decrease of 15.24 million shares from the previous period. Other notable shareholders included Huatai-PB CSI 300 ETF and E Fund High-end Manufacturing Stock A, with varying changes in their holdings [3].

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [7]. Core Insights - The company is positioned to benefit from the high investment intensity in Anhui Province's 14th Five-Year Plan, particularly in highway and municipal construction, with a projected average annual increase in highway operational mileage of 363 kilometers, a 21% increase from the previous plan [6]. - The company has shown resilience with a year-on-year increase of 2.68% in new orders to 75.086 billion yuan in the first half of 2025, despite industry headwinds [6]. - The company is expanding its geographical reach and operational capabilities, establishing 18 branches outside Anhui and focusing on key markets such as Beijing-Tianjin-Hebei, the Yangtze River Delta, and the Greater Bay Area [6]. - The company has a strong dividend profile, with a cash dividend of 463 million yuan in 2024, a payout ratio of 34.46%, and a dividend yield of 5.9% as of September 30 [6]. Financial Projections - The projected net profit attributable to the parent company for 2025-2027 is 1.338 billion, 1.439 billion, and 1.538 billion yuan, respectively, with corresponding P/E ratios of 5.99, 5.57, and 5.21 [7]. - Revenue forecasts for 2024-2027 are 96.502 billion, 92.332 billion, 94.614 billion, and 96.997 billion yuan, with growth rates of 5.76%, -4.32%, 2.47%, and 2.52% [8].

Group 1 - On September 30, JinkoSolar's stock rose by 1.08% with a trading volume of 545 million yuan, while the net financing buy was -15.79 million yuan, indicating a decrease in investor confidence [1] - As of September 30, the total margin balance for JinkoSolar was 598 million yuan, with a financing balance of 596 million yuan, representing 1.37% of the circulating market value, which is below the 10% percentile level over the past year [1] - The company repaid 5,700 shares of margin trading and sold 2,200 shares on September 30, with a margin balance of 1,848,800 yuan, also indicating a low level compared to the past year [1] Group 2 - As of June 30, JinkoSolar had 178,600 shareholders, an increase of 3.53%, while the average circulating shares per person decreased by 3.41% to 18,512 shares [2] - For the first half of 2025, JinkoSolar reported a revenue of 23.905 billion yuan, a year-on-year decrease of 36.01%, and a net profit attributable to shareholders of -2.580 billion yuan, a significant decline of 195.13% [2] Group 3 - JinkoSolar has distributed a total of 3.055 billion yuan in dividends since its A-share listing, with 2.415 billion yuan distributed in the last three years [3] - As of June 30, 2025, the second-largest circulating shareholder was Hong Kong Central Clearing Limited, holding 221 million shares, a decrease of 15.2399 million shares from the previous period [3] - New institutional shareholders include HSBC Jintrust Low Carbon Pioneer Stock A and HSBC Jintrust Dynamic Strategy Mixed A, while several funds exited the top ten circulating shareholders list [3]

Group 1 - The core focus of the investor meeting was on the company's main business, nuclear power operations, production and operational status, and future strategic planning [1][2]. - The company has been involved in the manufacturing and sales of industrial waste heat boilers, large and special material pressure vessels, nuclear safety equipment, and environmental remediation services, with no changes reported in its main business [3]. - The nuclear power business has been developed since 1998, with the company completing several first-of-their-kind manufacturing tasks both internationally and domestically, and the fourth-generation nuclear power equipment project is progressing as planned [3]. Group 2 - The company plans to enhance its core business while increasing technological innovation and management efforts, focusing on management and cost control, and optimizing resource allocation to improve profitability and market competitiveness [3]. - The production and operational performance from 2025 to the present has met expectations, with all projects progressing normally [3].