当华为宣布进入某一领域时，这个赛道的每个参与者都要为之一颤。 凭借强大的ICT技术、海量的数据、贯通B到C到G端的产业生态，以及国民级品牌信仰，华为在任何一 个涉足的行业，都干到了世界级的影响力。甚至离职员工再创业，亦成为资本疯抢的项目。 储能就是一个典型的案例。 自2014年，华为凭借组串式逆变器杀入光伏逆变器领域，其在光储赛道的技术深耕和组织变革已经长达 十年之久，加上本身强大的ICT优势，华为通过技术迭代，重塑产业格局，最终成为全球光伏逆变器冠 军。 在任正非亲自指示下，华为成立数字能源板块，并快速切入储能赛道，如今已是世界第五大储能系统企 业。 随着华为储能业务在行业内排名的跃升，其神秘的面纱正逐步被揭开。 "抓住数字能源大发展的机会窗口，扑上去、撕开它。" 2021年，任正非在华为年度工作会议上对数字能源业务提出了这样的要求。他当时说道，"低碳化、电 气化、数字化转型，是华为实现快速发展的大好机会，要在数字能源领域做到技术扎根。" 当年6月，华为拿出30亿元成立数字能源子公司，这是当时除Toc业务外，集团投资力度最大的子公司， 比海思半导体还要多出10亿元。 5个月后，华为在东莞松山湖园区举办了军团 ...

12月31日，锦浪科技跌1.06%，截至发稿，报71.92元/股，成交2.67亿元，换手率1.15%，总市值286.32 亿元。 截至发稿，祁世超累计任职时间344天，现任基金资产总规模325.3亿元，任职期间最佳基金回报 48.19%， 任职期间最差基金回报7.47%。 从基金十大重仓股角度 数据显示，天弘基金旗下1只基金重仓锦浪科技。天弘国证新能源电池指数发起A（021963）三季度持 有股数4.1万股，占基金净值比例为2.5%，位居第十大重仓股。根据测算，今日浮亏损失约3.16万元。 天弘国证新能源电池指数发起A（021963）成立日期2024年10月15日，最新规模3846.23万。今年以来收 益50.91%，同类排名643/4189；近一年收益49.13%，同类排名563/4188；成立以来收益47.91%。 天弘国证新能源电池指数发起A（021963）基金经理为贺雨轩。 资料显示，锦浪科技股份有限公司位于浙江省象山县经济开发区滨海工业园金通路57号，成立日期2005 年9月9日，上市日期2019年3月19日，公司主营业务涉及组串式逆变器研发、生产、销售和服务,主要产 品为组串式逆变器。主营业务收入 ...

12月18日，锦浪科技盘中下跌2.00%，截至10:44，报69.92元/股，成交2.07亿元，换手率0.91%，总市值 278.36亿元。 资金流向方面，主力资金净流出1736.82万元，特大单买入435.56万元，占比2.10%，卖出815.66万元， 占比3.94%；大单买入3951.11万元，占比19.09%，卖出5307.83万元，占比25.65%。 截至12月10日，锦浪科技股东户数7.05万，较上期减少2.47%；人均流通股4561股，较上期增加2.54%。 2025年1月-9月，锦浪科技实现营业收入56.63亿元，同比增长9.71%；归母净利润8.65亿元，同比增长 29.39%。 分红方面，锦浪科技A股上市后累计派现6.60亿元。近三年，累计派现3.18亿元。 机构持仓方面，截止2025年9月30日，锦浪科技十大流通股东中，香港中央结算有限公司位居第五大流 通股东，持股471.63万股，相比上期减少26.75万股。易方达创业板ETF（159915）位居第六大流通股 东，持股471.49万股，相比上期减少79.95万股。南方中证500ETF（510500）位居第八大流通股东，持 股348.93 ...

Core Viewpoint - Jinko Technology's stock price has experienced fluctuations, with a year-to-date increase of 15.90% but a recent decline in the last five and twenty trading days [1] Group 1: Company Overview - Jinko Technology, established on September 9, 2005, and listed on March 19, 2019, specializes in the research, production, sales, and service of string inverters [2] - The company's main revenue sources include grid-connected inverters (47.97%), household photovoltaic systems (21.28%), energy storage inverters (20.91%), new energy power generation (8.01%), and others (1.83%) [2] - As of November 28, 2025, Jinko Technology had 72,300 shareholders, a decrease of 2.54% from the previous period, with an average of 4,449 circulating shares per shareholder, an increase of 2.61% [2] Group 2: Financial Performance - For the period from January to September 2025, Jinko Technology achieved a revenue of 5.663 billion yuan, representing a year-on-year growth of 9.71%, and a net profit attributable to shareholders of 865 million yuan, up 29.39% year-on-year [2] Group 3: Stock Performance and Trading Activity - On December 2, Jinko Technology's stock price fell by 2.00%, trading at 70.55 yuan per share, with a total market capitalization of 28.087 billion yuan [1] - The stock has seen a net outflow of 18.995 million yuan in principal funds, with significant buying and selling activity from large orders [1] - The company has appeared on the trading leaderboard once this year, with a net buy of 433 million yuan on September 5 [1] Group 4: Shareholder Structure - As of September 30, 2025, Jinko Technology's top ten circulating shareholders included Hong Kong Central Clearing Limited and several ETFs, with some shareholders reducing their holdings while new shareholders entered [3]

Core Viewpoint - The report from Guohai Securities highlights the increasing electricity demand driven by the rapid development of AI Data Centers (AIDC), with projections indicating a significant rise in electricity consumption in the U.S. data centers from 196 TWh in 2023 to 672 TWh by 2028, increasing its share from 4.5% to 14.6% [1][2]. Group 1: Data Center Development and Electricity Demand - The construction of data centers is booming, leading to heightened requirements for power stability. The combined capital expenditure (CAPEX) of the four major cloud providers in North America (Amazon, Microsoft, Google, Meta) and domestic companies like Alibaba and Tencent is expected to grow by 57% and 169% respectively in 2024, with further increases anticipated in 2025 [1]. - The AIDC trend is characterized by large-scale, high power density, and high energy consumption, which is driving continuous growth in electricity demand [1][2]. Group 2: Impact on Power Supply and Storage Needs - The concentrated construction of AI data centers in North America is expected to create regional shocks to the power grid, exacerbated by a tight supply of gas turbines and mismatched electricity supply and demand, leading to increased risks of power outages [2]. - The demand for energy storage has shifted from being an optional configuration to a necessity for data centers, with battery energy storage systems (BESS) being crucial for stabilizing load fluctuations [3]. Group 3: Market Potential for Energy Storage - The global and Chinese data center energy storage market is projected to reach 212 GWh and 98.8 GWh respectively by 2030, with a compound annual growth rate (CAGR) of approximately 49% from 2023 to 2030 [4]. - In the U.S., the demand for energy storage in data centers is expected to increase from 11 GWh in 2025 to 116 GWh by 2030, reflecting a CAGR of 62% from 2025 to 2030 [4]. Group 4: Key Companies to Watch - CATL (300750.SZ) is recognized as a leader in the lithium battery industry, with global capacity expansion driving growth in data center energy storage [5]. - EVE Energy (300014.SZ) has a forward-looking layout in energy storage, providing comprehensive backup solutions for AIDC [5]. - Sungrow Power Supply (300274.SZ) is experiencing strong growth in its energy storage business, with synergies in power electronics technology expected to enhance its future positioning in HVDC/SST power supply [5]. - Aotes (688472.SH) is noted for its stable operations and strong breakthroughs in photovoltaic strategies and energy storage, benefiting from the growing demand for data center energy storage [5]. - Tongrun Equipment (002150.SZ) focuses on high-profit markets, with accelerated replacement of string inverters in the U.S. opening up future growth opportunities in energy storage systems [5].

Core Viewpoint - Jinko Technology's stock price has shown a year-to-date increase of 38.21%, but it has recently experienced a slight decline in the short term, indicating potential volatility in the market [2]. Group 1: Stock Performance - As of November 17, Jinko Technology's stock price was 84.13 CNY per share, with a market capitalization of 33.493 billion CNY [1]. - The stock has seen a 0.91% decline over the last five trading days, but a 10.15% increase over the last 20 days and a 29.03% increase over the last 60 days [2]. - The company has appeared on the "龙虎榜" (a stock trading list) once this year, with a net buy of 433 million CNY on September 5 [2]. Group 2: Financial Performance - For the period from January to September 2025, Jinko Technology reported a revenue of 5.663 billion CNY, representing a year-on-year growth of 9.71%, and a net profit attributable to shareholders of 865 million CNY, reflecting a 29.39% increase [2]. - The company has distributed a total of 660 million CNY in dividends since its A-share listing, with 318 million CNY distributed in the last three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders increased to 79,700, with an average of 4,033 circulating shares per person, a slight decrease of 1.16% [2]. - Major shareholders include Hong Kong Central Clearing Limited and various ETFs, with some shareholders reducing their holdings [3].

Core Viewpoint - Jinlang Technology's stock has shown significant growth this year, with a year-to-date increase of 43.91%, indicating strong market performance and investor interest [1][2]. Financial Performance - For the period from January to September 2025, Jinlang Technology achieved a revenue of 5.663 billion yuan, representing a year-on-year growth of 9.71%. The net profit attributable to shareholders was 865 million yuan, reflecting a year-on-year increase of 29.39% [2]. Stock Market Activity - As of November 14, Jinlang Technology's stock price was 87.60 yuan per share, with a market capitalization of 34.875 billion yuan. The stock experienced a trading volume of 531 million yuan and a turnover rate of 1.92% [1]. - The stock has been active in the market, with a notable presence on the "Dragon and Tiger List" on September 5, where it recorded a net purchase of 433 million yuan [1]. Shareholder Information - As of November 10, the number of shareholders for Jinlang Technology was 79,700, an increase of 1.17% from the previous period. The average number of circulating shares per shareholder was 4,033, a decrease of 1.16% [2]. - The top ten circulating shareholders include significant institutional investors, with notable changes in holdings among some of them [3]. Dividend Distribution - Since its A-share listing, Jinlang Technology has distributed a total of 660 million yuan in dividends, with 318 million yuan distributed over the past three years [3]. Industry Classification - Jinlang Technology operates within the power equipment sector, specifically in photovoltaic equipment and inverters. It is associated with various concept sectors, including mid-cap stocks, semiconductors, photovoltaic glass, and energy storage [2]. Business Overview - The company's main business includes the research, production, sales, and service of string inverters, with revenue contributions from grid-connected inverters (47.97%), household photovoltaic systems (21.28%), energy storage inverters (20.91%), and other segments [1].

Group 1 - The core viewpoint of the news is that Jinlang Technology's stock has seen a significant increase, with a rise of 5.81% to 84.86 CNY per share, and a total market capitalization of 33.784 billion CNY [1] - Jinlang Technology, established on September 9, 2005, specializes in the research, production, sales, and service of string inverters, with its main products being string inverters [1] - The revenue composition of Jinlang Technology includes grid-connected inverters at 47.97%, household photovoltaic power generation systems at 21.28%, energy storage inverters at 20.91%, new energy power production at 8.01%, and others at 1.83% [1] Group 2 - From the perspective of fund holdings, Zhejiang Merchants Securities Asset Management has a fund that heavily invests in Jinlang Technology, specifically the Zhejiang Merchants Zhijiang Phoenix ETF (512190), which held 22,700 shares in the third quarter, accounting for 3% of the fund's net value [2] - The Zhejiang Merchants Zhijiang Phoenix ETF (512190) was established on August 5, 2019, with a latest scale of 70.0671 million CNY, and has achieved a year-to-date return of 36.43% [2] - The fund has a one-year return of 30.73% and an overall return since inception of 153.74%, ranking 1253 out of 4216 and 969 out of 3951 in its category, respectively [2]

Core Viewpoint - Jinlang Technology's stock has shown a significant increase of 34.45% year-to-date, despite a recent decline of 3.91% over the last five trading days, indicating volatility in its performance [1][2]. Company Overview - Jinlang Technology, established on September 9, 2005, and listed on March 19, 2019, specializes in the research, production, sales, and service of string inverters, with its main products being string inverters [1]. - The company's revenue composition includes: grid-connected inverters (47.97%), household photovoltaic power generation systems (21.28%), energy storage inverters (20.91%), new energy power production (8.01%), and others (1.83%) [1]. Financial Performance - For the period from January to September 2025, Jinlang Technology achieved a revenue of 5.663 billion yuan, representing a year-on-year growth of 9.71%, and a net profit attributable to shareholders of 865 million yuan, reflecting a growth of 29.39% [2]. - The company has distributed a total of 660 million yuan in dividends since its A-share listing, with 318 million yuan distributed over the past three years [3]. Shareholder Information - As of November 10, 2025, the number of shareholders for Jinlang Technology reached 79,700, an increase of 1.17% from the previous period, with an average of 4,033 circulating shares per shareholder, a decrease of 1.16% [2]. - The top ten circulating shareholders include significant institutional investors, with notable changes in holdings, such as Hong Kong Central Clearing Limited reducing its stake by 267,500 shares [3].

Core Viewpoint - The report from Huazhong Securities indicates that Deye Co., Ltd. achieved a net profit attributable to shareholders of 2.347 billion yuan in Q1-Q3 2025, representing a year-on-year increase of 4.79% [1] - The company has decided to terminate its previous investment in a project for an annual production capacity of 25.5 GW for string and energy storage inverters, and instead will invest in a new project for an annual production capacity of 7 GWh for industrial and commercial energy storage, expected to be completed by April 2028 [1] Financial Performance - In Q3, the net profit attributable to shareholders was 825 million yuan, showing a quarter-on-quarter increase of 1% but a year-on-year decrease of 17.84% [1] - The new energy storage project is projected to generate an annual revenue of 4.88 billion yuan and a net profit of 730 million yuan once completed [1] Market Position and Strategy - The company maintains a strong advantage in emerging markets, with industrial and commercial energy storage enhancing its growth potential [1] - Deye Co., Ltd. has significant first-mover advantages and channel barriers in the Africa, Asia, and Latin America markets, with new off-grid energy storage inverters tailored to meet the demands of these regions [1] - The European market is showing signs of steady recovery, further supporting the company's growth strategy [1] Investment Rating - The report maintains a "Buy" rating for Deye Co., Ltd. based on its market position and growth prospects [1]