内容概要：电控母排作为电气系统中电能与信号高效传输分配的关键部件，以铜、铝等金属为核心导体 材料，具备载流强、散热优、结构紧凑等优势，是高压大电流场景不可或缺的组件。中国电控母排产业 链层级分明、协同紧密：上游依托国内精炼铜产能稳步增长，通过铝代铜技术、再生铝应用等稳定成 本；中游以苏州瑞可达、中航光电等企业为代表，形成长三角、珠三角产业集群，专注多类型母排生产 与高压产品迭代；下游以新能源汽车为核心驱动力，叠加智能电网、数据中心等"多引擎"需求，推动市 场持续扩容。2024年全球市场规模达33.7亿美元，预计2025年增至39.9亿美元，其中新能源汽车用母排 占比超半数。行业呈"金字塔式"竞争格局，外资主导高端市场，本土头部企业加速国产替代，中小型企 业聚焦细分赛道。未来，行业将沿高压化、集成化、智能化方向演进，拓展多元应用场景，构建技术驱 动与全球布局的新增长格局。 上市企业：西典新能（603312.SH）、正泰电器（601877.SH）、平高电气（600312.SH）、赛晶科技 （00580.HK）、壹连科技（301631.SZ）、瑞可达（688800.SH） 相关企业：东莞市硅翔绝缘材料有限公司、顺科 ...

Core Points - Xidian New Energy's stock price has dropped 5.34% to 49.82 CNY per share, with a total market capitalization of 7.971 billion CNY, and a cumulative decline of 14.92% over the last four days [1] - The company specializes in the research, design, production, and sales of electrical connection products, with main revenue sources including battery connection systems (77.10%), electrical control busbars (11.45%), industrial electrical busbars (7.97%), and others (2.04% and 1.44%) [1] Shareholder Analysis - Huaxia Fund's Huaxia Blue Chip Mixed Fund (LOF) A has entered the top ten circulating shareholders of Xidian New Energy, holding 578,500 shares, which is 1.1% of the circulating shares [2] - The fund has incurred a floating loss of approximately 1.6256 million CNY today and a total floating loss of 5.3396 million CNY during the four-day decline [2] - The fund was established on April 24, 2007, with a current size of 1.954 billion CNY, and has achieved a year-to-date return of 26.44% [2]

Core Insights - Xidian New Energy's stock increased by 2.60% on November 11, with a trading volume of 367 million yuan [1] - The company reported a net financing purchase of 11.41 million yuan on the same day, with a total financing balance of 136 million yuan, representing 4.43% of its market capitalization [1] - For the period from January to September 2025, Xidian New Energy achieved a revenue of 2.094 billion yuan, a year-on-year increase of 47.97%, and a net profit of 211 million yuan, up 42.58% year-on-year [2] Financing and Shareholding - On November 11, Xidian New Energy had a financing buy of 48.56 million yuan, with a current financing balance of 136 million yuan, which is above the 90th percentile of the past year [1] - The number of shareholders decreased by 6.73% to 9,972, while the average number of circulating shares per person increased by 3.94% to 5,106 shares [2] - As of September 30, 2025, the top ten circulating shareholders included notable entities such as Xin'ao New Energy Industry Stock A and Hong Kong Central Clearing Limited, with changes in their holdings [3]

Core Insights - Xidian New Energy's stock price increased by 10.01% on November 5, with a trading volume of 790 million yuan [1] - The company reported a significant increase in revenue and net profit for the first nine months of 2025, with revenue reaching 2.094 billion yuan, a year-on-year growth of 47.97%, and a net profit of 211 million yuan, up 42.58% [2] Financing and Margin Trading - On November 5, Xidian New Energy had a financing buy-in of 115 million yuan, with a net financing outflow of 6.9377 million yuan, resulting in a total financing balance of 148 million yuan, which accounts for 4.95% of its market capitalization [1] - The financing balance is at a high level, exceeding the 90th percentile of the past year [1] - There were no short sales or repayments on November 5, indicating a lack of short selling activity [1] Shareholder Information - As of October 13, the number of shareholders for Xidian New Energy was 9,972, a decrease of 6.73% from the previous period, while the average number of circulating shares per shareholder increased by 3.94% to 5,106 shares [2] - The company has distributed a total of 289 million yuan in dividends since its A-share listing [3] - Notable changes in institutional holdings include a decrease in shares held by Xinao New Energy Industry Stock A and an increase in shares held by Hong Kong Central Clearing Limited [3]

Core Insights - Xidian New Energy's stock rose by 5.38% to 56.22 CNY per share, with a trading volume of 452 million CNY and a turnover rate of 16.59%, resulting in a total market capitalization of 8.995 billion CNY [1] Company Overview - Suzhou Xidian New Energy Electric Co., Ltd. is located at 359 Jin Feng Road, Suzhou High-tech Zone, Jiangsu Province, and was established on May 31, 2007. The company is set to be listed on January 11, 2024 [1] - The main business involves the research, design, production, and sales of electrical connection products. The revenue composition is as follows: battery connection systems (77.10%), electric control busbars (11.45%), industrial electrical busbars (7.97%), and others (2.04% and 1.44%) [1] Fund Holdings - According to data, one fund under GF Fund has a significant holding in Xidian New Energy. The GF CSI 2000 ETF (560220) held 8,100 shares in the third quarter, accounting for 0.62% of the fund's net value, ranking as the seventh largest holding [2] - The GF CSI 2000 ETF (560220) was established on September 8, 2023, with a latest scale of 66.3294 million CNY. Year-to-date returns are 36.32%, ranking 1212 out of 4216 in its category; the one-year return is 40.16%, ranking 916 out of 3901; and since inception, the return is 45.31% [2] - The fund manager, Xia Haoyang, has a cumulative tenure of 4 years and 171 days, with total assets under management of 15.223 billion CNY. The best fund return during his tenure is 93.71%, while the worst is -27.07% [2]

Core Viewpoint - Xidian New Energy has seen a stock price increase of 5.38%, reaching 56.22 CNY per share, with a trading volume of 4.52 billion CNY and a turnover rate of 16.59%, resulting in a total market capitalization of 8.995 billion CNY [1] Company Overview - Suzhou Xidian New Energy Electric Co., Ltd. is located at 359 Jin Feng Road, Suzhou High-tech Zone, Jiangsu Province, and was established on May 31, 2007. The company is set to be listed on January 11, 2024 [1] - The main business involves the research, design, production, and sales of electrical connection products. The revenue composition is as follows: battery connection systems 77.10%, electric control busbars 11.45%, industrial electrical busbars 7.97%, and others 2.04% [1] Shareholder Information - Among the top ten circulating shareholders of Xidian New Energy, one fund from Huaxia Fund ranks as a significant holder. Huaxia Blue Chip Mixed (LOF) A (160311) entered the top ten in the third quarter, holding 578,500 shares, which accounts for 1.1% of the circulating shares. The estimated floating profit today is approximately 1.6603 million CNY [2] - Huaxia Blue Chip Mixed (LOF) A (160311) was established on April 24, 2007, with a latest scale of 1.954 billion CNY. Year-to-date returns are 22.11%, ranking 3905 out of 8150 in its category; the one-year return is 11.37%, ranking 5296 out of 8043; and since inception, the return is 134.48% [2] Fund Management - The fund manager of Huaxia Blue Chip Mixed (LOF) A (160311) is Li Yan, who has been in the position for 5 years and 148 days. The total asset scale of the fund is 3.475 billion CNY. The best fund return during his tenure is 106.44%, while the worst return is -18.78% [3]

Core Viewpoint - Xidian New Energy's stock experienced a decline of 1.70% on October 29, with a trading volume of 156 million yuan, indicating a potential shift in investor sentiment [1] Financing Summary - On October 29, Xidian New Energy had a financing buy-in amount of 24.91 million yuan and a financing repayment of 16.17 million yuan, resulting in a net financing buy of 8.74 million yuan [1] - The total financing and securities balance for Xidian New Energy reached 127 million yuan, accounting for 5.13% of its circulating market value, which is above the 90th percentile level over the past year, indicating a high financing level [1] - The company had no short selling activity on October 29, with a short selling balance of 0 yuan, also reflecting a high percentile level over the past year [1] Business Performance - As of October 13, Xidian New Energy reported a total of 9,972 shareholders, a decrease of 6.73% from the previous period, while the average circulating shares per person increased by 3.94% to 5,106 shares [2] - For the period from January to September 2025, Xidian New Energy achieved a revenue of 2.094 billion yuan, representing a year-on-year growth of 47.97%, and a net profit attributable to shareholders of 211 million yuan, up 42.58% year-on-year [2] Dividend and Shareholding Structure - Since its A-share listing, Xidian New Energy has distributed a total of 289 million yuan in dividends [3] - As of September 30, 2025, the top ten circulating shareholders included notable entities such as Xin'ao New Energy Industry Stock A and Hong Kong Central Clearing Limited, with changes in their holdings indicating shifts in institutional investment [3]

Core Viewpoint - Xidian New Energy has seen a stock price increase of 5.09%, reaching 49.73 CNY per share, with a trading volume of 1.22 billion CNY and a turnover rate of 4.99%, resulting in a total market capitalization of 7.957 billion CNY [1] Company Overview - Suzhou Xidian New Energy Electric Co., Ltd. is located at 359 Jin Feng Road, Suzhou High-tech Zone, Jiangsu Province, and was established on May 31, 2007. The company is set to be listed on January 11, 2024 [1] - The main business involves the research, design, production, and sales of electrical connection products. The revenue composition is as follows: battery connection systems 77.10%, electric control busbars 11.45%, industrial electrical busbars 7.97%, and others 2.04% [1] Fund Holdings - According to data, one fund under Baoying Fund has a significant holding in Xidian New Energy. Baoying Xianghe 9-Month Open Mixed A (010747) held 1,100 shares in the second quarter, accounting for 0.17% of the fund's net value, ranking as the eighth largest holding [2] - The fund was established on April 19, 2022, with a latest scale of 20.9023 million CNY. Year-to-date return is 3.69%, ranking 7192 out of 8226 in its category; the one-year return is 6.98%, ranking 6418 out of 8099; and since inception, the return is 9.82% [2] - The fund managers are Cai Dan and Ge Xi, with Cai Dan having a tenure of 8 years and 86 days, managing assets totaling 1.763 billion CNY, achieving a best return of 101.39% and a worst return of 0.99% during the tenure. Ge Xi has a tenure of 213 days, managing assets of 5.264 billion CNY, with a best return of 1.49% and a worst return of -0.86% [2]

Core Viewpoint - Xidian New Energy has shown significant growth in revenue and net profit, indicating strong business performance and investor interest in the company [2][3]. Financing Summary - On October 15, Xidian New Energy's stock price increased by 1.94%, with a trading volume of 80.56 million yuan. The financing buy-in amount was 6.82 million yuan, while the financing repayment was 8.13 million yuan, resulting in a net financing buy-in of -1.31 million yuan [1]. - As of October 15, the total financing and securities lending balance for Xidian New Energy was 128 million yuan, which accounts for 5.35% of its market capitalization. This financing balance is above the 90th percentile level over the past year, indicating a high level of financing activity [1]. - On the same day, there were no shares sold or repaid in the securities lending market, with a total securities lending balance of 0, also indicating a high level of inactivity in this area [1]. Company Performance - For the first half of 2025, Xidian New Energy reported a revenue of 1.392 billion yuan, representing a year-on-year growth of 65.90%. The net profit attributable to shareholders was 139 million yuan, reflecting a year-on-year increase of 51.66% [2]. - Since its A-share listing, Xidian New Energy has distributed a total of 289 million yuan in dividends [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Xidian New Energy was 10,100, a decrease of 3.58% from the previous period. The average number of circulating shares per person increased by 3.71% to 5,214 shares [2]. - Among the top ten circulating shareholders, Xinao New Energy Industry Stock A (001410) is the fifth largest, holding 1.75 million shares, an increase of 586,400 shares from the previous period. Other notable changes include a decrease in holdings by Guangfa Multi-Factor Mixed Fund (002943) and an increase by Hong Kong Central Clearing Limited [3].

Core Points - Xidian New Energy's stock price has dropped by 5.01% to 45.85 CNY per share, with a total market capitalization of 7.336 billion CNY, and a cumulative decline of 4.26% over the last three days [1] - The company specializes in the research, design, production, and sales of electrical connection products, with its main revenue sources being battery connection systems (77.10%), electric control busbars (11.45%), industrial electrical busbars (7.97%), and others (2.04% and 1.44%) [1][2] Shareholder Analysis - Among the top ten circulating shareholders, GF Fund's multi-factor mixed fund has reduced its holdings by 110,100 shares, now holding 1.662 million shares, which is 3.16% of the circulating shares, resulting in a floating loss of approximately 4.0221 million CNY today [2] - The fund has experienced a floating loss of 3.5733 million CNY during the three-day decline [2] Fund Manager Performance - The fund manager Tang Xiaobin has a tenure of 10 years and 298 days, with a total fund size of 14.774 billion CNY and a best return of 392.26% during his tenure [3] - Co-manager Yang Dong has a tenure of 4 years and 106 days, managing a fund size of 15.065 billion CNY, with a best return of 106.74% [3]