Core Viewpoint - Daqo Energy announced on its interactive platform that it will disclose the number of shareholders at specific points in time in its regular reports to ensure all investors receive information fairly and promptly [1] Group 1 - Daqo Energy aims to enhance transparency for investors by providing timely updates on shareholder numbers [1]

证券代码：688303 证券简称：大全能源 公告编号：2025-053 新疆大全新能源股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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。 重要内容提示： 2025 年 4 月 21 日，新疆大全新能源股份有限公司（以下简称"公司"）召开 第三届董事会第十七次会议，审议通过了《关于以集中竞价交易方式回购公司股 份方案的议案》。同意公司使用自有资金以集中竞价交易方式回购公司股份。本次 回购资金总额不低于人民币 5,000 万元（含）且不超过人民币 10,000 万元（含）， 回购的股份将在未来适宜时机全部用于员工持股计划或股权激励，回购价格不超 过人民币 44.00 元/股（含），回购期限为自董事会审议通过本次回购股份方案之 日起不超过 12 个月。 具 体 内 容 详 见 公 司 于 2025 年 4 月 23 日 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《新疆大全新能源股份有限公司关于以集中竞价交易 方式回购公司股份的回购报告书》（公 ...

Group 1 - The company announced a share repurchase plan approved by the board on April 21, 2025, with a total funding amount of 50 million to 100 million yuan [1] - The repurchase is intended for employee stock ownership plans or equity incentives, with a repurchase period ending on April 20, 2026 [1] - As of November 30, 2025, the company has repurchased a total of 15,323 shares, accounting for 0.0007% of the total share capital, with a total expenditure of 290,753.82 yuan and a repurchase price range of 18.79 to 19.12 yuan per share [1]

Investment Rating - The report maintains an investment rating of "Synchronize with the market - A" for the power equipment and new energy industry [1] Core Viewpoints - The power equipment and new energy industry has shown significant market performance over the past year, with a focus on enhancing the utilization of renewable energy through new pricing mechanisms [1][4] - The report highlights the recent order of 143 million yuan received by UBTECH for humanoid robots, indicating strong demand in the robotics sector [3] - The National Development and Reform Commission (NDRC) is actively addressing issues of price disorder in certain industries, which may impact market dynamics [3] Summary by Relevant Sections Market Performance - The power equipment and new energy industry has experienced notable developments, including the introduction of new pricing methods aimed at promoting renewable energy consumption [4] Company Orders - UBTECH's total order amount for humanoid robots in 2025 has reached 1.3 billion yuan, showcasing robust growth in this segment [3] Pricing Trends - The report provides insights into the pricing of polysilicon, silicon wafers, battery cells, and modules, indicating stability in polysilicon prices and a downward trend in silicon wafer and battery cell prices due to high inventory levels [5][7][8] Investment Recommendations - The report recommends several companies for investment based on their strategic positioning in the industry, including Aikang Co., Longi Green Energy, and Daqo New Energy, among others [6][9]

证券代码：688303 证券简称：大全能源 公告编号：2025-051 新疆大全新能源股份有限公司 关于续聘德勤华永会计师事务所（特殊普通合伙）为 公司 2025 年度审计机构的公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要提示： 新疆大全新能源股份有限公司（以下简称"公司"或"大全能源"）拟聘任德 勤华永会计师事务所（特殊普通合伙）（以下简称"德勤华永"）为公司 2025 年财 务报告审计及内部控制审计机构。 一、拟聘任会计师事务所的基本情况 （一）机构信息 1、基本信息 德勤华永会计师事务所（特殊普通合伙）的前身是 1993 年 2 月成立的沪江德 勤会计师事务所有限公司，于 2002 年更名为德勤华永会计师事务所有限公司，于 2012 年 9 月经财政部等部门批准转制成为特殊普通合伙企业。德勤华永注册地址 为上海市黄浦区延安东路 222 号 30 楼。 德勤华永具有财政部批准的会计师事务所执业证书，并经财政部、中国证监 会批准，获准从事 H 股企业审计业务。德勤华永已根据财政部和中国证监会《会 计师事务所从 ...

证券代码：688303 证券简称：大全能源 公告编号：2025-052 新疆大全新能源股份有限公司 关于召开2025年第二次临时股东会的通知 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 一、 召开会议的基本情况 （一） 股东会类型和届次 2025年第二次临时股东会 召开日期时间：2025 年 12 月 15 日 14 点 00 分 召开地点：上海市浦东新区张杨路 838 号华都大厦 29 层 A/J 座会议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 12 月 15 日 至2025 年 12 月 15 日 （七） 涉及公开征集股东投票权 不适用 二、 会议审议事项 本次股东会审议议案及投票股东类型 | 序号 | | 议案名称 | 投票股东类型 | | --- | --- | --- | --- | | | | | 股股东 A | | 非累积投票议案 | | | | | 1 | 关于续聘德勤华永会计师事务所（特殊普通合 | ...

证券代码：688303 证券简称：大全能源 公告编号：2025-050 新疆大全新能源股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要提示： 投资者可于 2025 年 11 月 28 日（星期五）至 12 月 04 日（星期四）登录上证 路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 dqir@daqo.com 进行 提问。公司将在说明会上对投资者普遍关注的问题进行回答。 新疆大全新能源股份有限公司（以下简称"公司"）已于 2025 年 10 月 28 日 发布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计划于 2025 年 12 月 05 日(星期五) 11:00-12:00 举行 2025 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 （三）会议召开方式：上证路演中心网络互动 三、参加人员 公司出席本次说明会的人员：董事兼总经理朱文刚先生；董事、董事会秘书 孙 ...

Core Insights - The report emphasizes that the photovoltaic industry is entering a continuous capacity clearance cycle, driven by anti-involution policies and market dynamics, which will gradually improve the performance of existing photovoltaic companies [4][22][50] - The investment recommendation maintains a "stronger than market" rating, suggesting a focus on leading companies in niche sectors such as energy storage inverters, polysilicon materials, photovoltaic glass, and integrated component manufacturers [4][36][50] Group 1: 2025 Review and 2026 Outlook - In 2025, the photovoltaic sector saw a significant increase in installed capacity, with a total of 240.27 GW added, representing a year-on-year growth of 64.73% [4][36] - The report notes a bifurcation in stock performance, with the photovoltaic industry index yielding a return of 21.53% from January to November 2025, outperforming the Shanghai and Shenzhen 300 index, which returned 13.18% [14][20] - The outlook for 2026 indicates a slowdown in new installations, with expectations of stable demand and a focus on improving the quality of the industry through capacity reduction and consolidation [4][36][50] Group 2: Investment Recommendations - The report suggests that the energy storage inverter sector will benefit from a global upturn in energy storage demand, with significant growth expected in the market [4][36] - For polysilicon, the report highlights that anti-involution measures are likely to reverse the industry's challenges, recommending a focus on leading companies with performance elasticity [5][9] - The photovoltaic glass market is entering a phase of capacity optimization, with a recommendation to focus on leading companies that possess cost advantages [9][10] Group 3: Market Dynamics - The report indicates that the traditional markets in Europe and the U.S. are experiencing sluggish growth, while demand in Asia-Pacific and Africa remains robust, with imports of components continuing to grow rapidly [4][41][42] - The report outlines that the U.S. market is facing challenges due to the expiration of investment tax credits, which is expected to impact new installations negatively [45][46] - In contrast, the Middle East and Africa are emerging as hotspots for photovoltaic demand due to their energy transition needs and favorable market conditions [41][47]

Market Performance - The photovoltaic equipment sector increased by 0.12% on November 24, with Canadian Solar leading the gains [1] - The Shanghai Composite Index closed at 3836.77, up 0.05%, while the Shenzhen Component Index closed at 12585.08, up 0.37% [1] Stock Performance - Key stocks in the photovoltaic equipment sector showed the following closing prices and percentage changes: - Canadian Solar (688472): 17.15, up 4.57% with a trading volume of 1.0438 million shares and a turnover of 1.76 billion [1] - Sangsheng Technology (300051): 6.90, up 4.23% with a trading volume of 101,500 shares and a turnover of 68.91 million [1] - Aerospace Electromechanical (600151): 8.88, up 4.23% with a trading volume of 618,900 shares and a turnover of 55 million [1] - Other notable stocks include Daqian Energy (688303), DeYe Co., Ltd. (605117), and Weidao Nano (688147) with respective increases [1] Capital Flow - The photovoltaic equipment sector experienced a net outflow of 632 million from institutional investors, while retail investors saw a net inflow of 181 million [2] - Notable capital flows for specific stocks include: - Aerospace Electromechanical (600151): 73.22 million net inflow from institutional investors, but a net outflow from retail investors [2] - Canadian Solar (688472): 26.83 million net inflow from retail investors, but a significant net outflow from institutional investors [2] - Other stocks like JinkoSolar (688223) and Weidao Nano (688147) also showed varied capital flows [2]

Core Viewpoint - Daqo Energy's stock price declined by 3.76% on November 21, with a trading volume of 353 million yuan, indicating a significant market reaction to recent financial data and trading activities [1] Financing Summary - On November 21, Daqo Energy had a financing buy-in amount of 24.66 million yuan and a financing repayment of 44.35 million yuan, resulting in a net financing outflow of 19.70 million yuan [1] - As of November 21, the total financing and securities lending balance for Daqo Energy was 719 million yuan, with the financing balance at 716 million yuan, accounting for 1.22% of the circulating market value, which is above the 70th percentile of the past year [1] - The securities lending activity on November 21 included a repayment of 14,300 shares and a sale of 30,600 shares, with a selling amount of 836,000 yuan, while the securities lending balance was 2.53 million yuan, exceeding the 80th percentile of the past year [1] Company Performance - As of September 30, Daqo Energy had 40,000 shareholders, an increase of 14.07% from the previous period, with an average of 53,635 circulating shares per person, up by 240.25% [2] - For the period from January to September 2025, Daqo Energy reported a revenue of 3.24 billion yuan, a year-on-year decrease of 46%, and a net profit attributable to shareholders of -1.07 billion yuan, a year-on-year increase of 2.36% [2] - Since its A-share listing, Daqo Energy has distributed a total of 9.74 billion yuan in dividends, with 8.59 billion yuan distributed over the past three years [2] Institutional Holdings - As of September 30, 2025, Daqo Energy's top ten circulating shareholders included notable ETFs, with E Fund's SSE STAR 50 ETF holding 23.26 million shares, a decrease of 3.38 million shares from the previous period [2] - Other significant shareholders included Huaxia's SSE STAR 50 ETF with 22.73 million shares (down 12.83 million shares) and Hong Kong Central Clearing Limited with 21.88 million shares (down 990,970 shares) [2]