Summary of Conference Call Records Company: 长江电新 (Changjiang Electric New Energy) Key Points Industry Overview - The company operates in the renewable energy sector, focusing on solar energy and energy storage solutions. Core Insights and Arguments 1. The company has approved a proposal regarding the signing of major terms with related parties for its subsidiary, indicating a strategic move to enhance its operations in the U.S. market [1] 2. A business adjustment announcement was made last year, where the company adopted a model combining equity transfer and leasing, securing a one-time equity transfer payment and a 24.9% ongoing equity income from U.S. operations [1] 3. Four leasing agreements have been signed before the end of last year, with an additional agreement expected to be finalized in April this year, projecting a pre-tax profit increase from 431 million to 883 million yuan over the lease term from 2026 to 2030 [1] 4. The company believes that risks associated with its U.S. business have been fully mitigated, leading to an optimistic outlook for significant growth in future performance [1] Additional Important Information 1. In the energy storage segment, the company anticipates shipments of 14-17 GWh by 2026, supported by a robust order backlog, including a significant contract for 503 MWh in Texas, USA [2] 2. In the photovoltaic sector, the company is responding to market pressures by optimizing its shipment structure and plans to reduce its silver usage from 100% to 30% in the next quarter, aiming for zero silver usage to mitigate cost fluctuations due to high silver prices [2]

阿特斯阳光电力集团股份有限公司 章 程 二〇二六年二月 1 | 第一章 | 总则 | 3 | | --- | --- | --- | | 第二章 | 经营宗旨和范围 4 | | | 第三章 | 股份 | 5 | | 第一节 | 股份发行 5 | | | 第二节 | 股份增减与回购 7 | | | 第三节 | 股份转让 8 | | | 第四章 | 股东和股东会 9 | | | 第一节 | 股东 9 | | | 第二节 | 控股股东和实际控制人 | 12 | | 第三节 | 股东会的一般规定 14 | | | 第四节 | 股东会的召集 17 | | | 第五节 | 股东会的提案与通知 19 | | | 第六节 | 股东会的召开 20 | | | 第七节 | 股东会的表决和决议 24 | | | 第五章 | 董事和董事会 28 | | | 第一节 | 董事的一般规定 28 | | | 第二节 | 董事会 32 | | | 第三节 | 独立董事 37 | | | 第四节 | 董事会专门委员会 40 | | | 第六章 | 高级管理人员 42 | | | 第七章 | 财务会计制度、利润分配和审计 | 44 | | 第一 ...

中国国际金融股份有限公司 关于阿特斯阳光电力集团股份有限公司 下属子公司与关联方签署《租赁合同》暨关联交易的核 一、租赁合同情况 关于美国市场业务调整，公司结合海外不同地区实际产能投资情况及当地法 律法规，设计了股权转让及租赁并行的模式：美国制造工厂中，由控股股东 CSIQ 及公司成立合资公司负责实际生产运营，并租赁公司已投资的厂房、设施和设备； 泰国制造工厂中，由控股股东 CSIQ 收购公司已建立的子公司 75.1%股权从而转 变为合资公司，并租赁少量不可分割资产；新建海外工厂中，由控股股东 CSIQ 收购公司已建立的子公司 75.1%股权从而转变为合资公司。 （一）出租资产情况 本次业务调整方案中，出租资产的为美国及泰国工厂：Canadian Solar US Module Manufacturing Corporation（以下简称"USMM"），注册地址为美国特拉 华州新城堡县威明顿市小福尔斯大道 251 号，实际运营地址为美国德克萨斯州梅 斯基特市天际线大道 3000 号，主营业务为光伏组件制造，2025 年中已实际达产； Canadian Solar US Cell Manufacturing C ...

证券代码：688472 证券简称：阿特斯 公告编号：2026-005 阿特斯阳光电力集团股份有限公司 关于变更公司注册资本、修订《公司章程》 并办理工商变更登记的公告 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、准确性和完整性依法承担法律责任。 2026年2月8日，阿特斯阳光电力集团股份有限公司（以下简称"公司"）第 二届董事会第十四次会议审议通过了《关于变更公司注册资本、修订<公司章程> 并办理工商变更登记的议案》，具体情况如下： 此次修订《公司章程》在公司 2024 年第二次临时股东大会授权范围内，已 经公司董事会审议通过，无需提交公司股东会审议。董事会授权公司管理层或其 授权代表向工商登记机关办理《公司章程》的备案登记，上述变更最终以工商登 记机关核准的内容为准。 截至 2025 年 12 月 18 日，本次回购的 12 个月期限已满。公司以集中竞价交 易方式累计回购公司股份 45,077,212 股，占公司注销前总股本的比例为 1.22%， 回购成交的最高价为 16.52 元/股，最低价为 8.34 元/股，回购使用的资金总额 为人民币 500 ...

证券代码：688472 证券简称：阿特斯 公告编号：2026-004 阿特斯阳光电力集团股份有限公司 关于下属子公司与关联方签署《租赁合同》 暨关联交易的进展公告 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。 阿特斯阳光电力集团股份有限公司（以下简称"公司"）于 2025 年 11 月 28 日召开第二届董事会第十二次会议及第二届监事会第十次会议、并于 2025 年 12 月 16 日召开 2025 年第一次临时股东大会，审议通过了《关于美国市场业务 调整暨关联交易的议案》以及《关于豁免控股股东及实控人曾出具的关于避免同 业竞争的承诺的议案》，控股股东及关联董事均回避表决。 会议，审议通过了《关于下属子公司与关联方签署的<租赁合同>主要条款确认的 议案》。关联董事 Xiaohua Qu（瞿晓铧)、Yan Zhuang（庄岩)、Leslie Li Hsien Chang（张立宪）回避表决，表决程序符合《公司法》《证券法》等法律法规以 及《公司章程》的有关规定，该议案尚需提交公司股东会审议通过，关联股东将 在股东会上回避表决。 ...

关于召开2026年第一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 证券代码：688472 证券简称：阿特斯 公告编号：2026-006 阿特斯阳光电力集团股份有限公司 网络投票起止时间：自2026 年 2 月 26 日 至2026 年 2 月 26 日 （一） 股东会类型和届次 2026年第一次临时股东会 （四） 现场会议召开的日期、时间和地点 召开日期时间：2026 年 2 月 26 日 14 点 00 分 召开地点：江苏省苏州市高新区枫桥街道鹿山路 348 号阿特斯储能科技有限 公司一楼储能会议室 （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 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东会召开当日的 9:15-15:00。 股东会召开日期：2026年2月2 ...

Core Viewpoint - The company announced a share buyback plan, indicating a strategic move to enhance shareholder value through the repurchase of shares [1] Group 1: Share Buyback Details - From November 2024 to December 2025, the company repurchased a total of 45,077,212 shares, which represents 1.22% of the total share capital before cancellation [1] - The total funds used for the buyback amounted to 5.01 billion yuan [1] - The share buyback was completed on December 19, 2025, resulting in a reduction of total share capital from 3,688,217,324 shares to 3,643,140,112 shares [1] Group 2: Capital Structure Changes - Following the share buyback, the registered capital decreased from 3.688 billion yuan to 3.643 billion yuan [1] - The company plans to amend relevant provisions in its Articles of Association and will handle the necessary business registration [1] - The amendments to the Articles of Association have been disclosed and were approved by the board of directors within the scope authorized by the shareholders' meeting [1]

Core Viewpoint - The articles highlight the growing interest and investment in space photovoltaic technology among various companies in China, indicating a significant potential for growth in this sector by 2026 as commercialization accelerates. Group 1: Company Overview - Xizi Clean Energy (002534) is a leading clean energy equipment manufacturer in China, focusing on high-performance perovskite photovoltaic technology and aiming to become a core supplier of materials for space photovoltaics by 2026 [1][24]. - Shanghai Port Construction (605598) is a major infrastructure company that is expanding into space photovoltaic systems, leveraging its engineering capabilities to support commercial space projects [2][25]. - TuoRi New Energy (002218) has a long-standing presence in the photovoltaic industry and is optimizing its space photovoltaic products, expecting to increase market share by 2026 [3][26]. - Mingyang Smart Energy (601615) is acquiring technology to enhance its capabilities in space solar cell development, aiming to integrate its wind and solar energy expertise [4][28]. - Woge Optoelectronics (603773) specializes in flexible solar wing materials for satellites, with a focus on high-temperature resistant films, anticipating significant growth in the space photovoltaic sector [5][29]. Group 2: Growth Outlook - Companies are expected to benefit from the rapid commercialization of space photovoltaics, with projections indicating substantial growth opportunities by 2026 [1][2][3][4][5]. - The synergy between commercial aerospace and space photovoltaic industries is anticipated to drive rapid business growth for companies like Shanghai Port Construction and Mingyang Smart Energy [2][4]. - The demand for flexible solar wings and high-efficiency photovoltaic materials is expected to surge, positioning companies like Woge Optoelectronics and TuoRi New Energy as key players in the market [3][5]. Group 3: Technological Advancements - Companies are focusing on developing materials that can withstand extreme space conditions, such as high-performance perovskite and flexible solar films, which are crucial for the success of space photovoltaic applications [1][5][6]. - The integration of advanced technologies, such as N-type solar cells and high-efficiency components, is being prioritized by firms like Junda Co. (002865) and Sanan Optoelectronics (600703) to enhance their competitive edge in the space photovoltaic market [6][10][35]. - The ongoing research and development efforts in high-efficiency solar technologies are expected to yield breakthroughs that will facilitate the commercialization of space photovoltaic solutions by 2026 [3][4][5][6].

Group 1 - The Ministry of Industry and Information Technology has approved solid-state battery testing, with industrialization expected to occur soon, targeting an energy density of over 400Wh/kg by 2026-2027, focusing on electrolyte and negative electrode collector materials [1] - Solid-state batteries are anticipated to see a bidding catalyst in 2025, with high certainty in equipment and significant flexibility in materials, offering a unit value five times that of liquid batteries [1] - JinkoSolar may collaborate with SpaceX to resolve TOPCon patent issues within the equipment chain, with auxiliary materials and flexibility being maximized, and the semiconductor and copper paste business valued at 80 billion [1] Group 2 - As of February 9, 09:43, the Kexin New Energy ETF (588830.SH) rose by 3.97%, with its related index Kexin New Energy (000692.SH) increasing by 3.89%; major constituent stocks included JinkoSolar up 10.44%, Juhua Materials up 20.00%, Rongbai Technology up 9.61%, Trina Solar up 4.15%, and Aotewi up 3.06% [1] - Guosen Securities highlights the promising prospects of space photovoltaics in the new energy power equipment sector, with global tech giants continuously expanding AI capital expenditures, leading to "outperform" ratings for certain storage equipment sector stocks [1] - Great Wall Securities believes that solid-state battery technology is entering a golden development period, with a combination of cold isostatic pressing and warm isostatic pressing processes offering efficiency and cost advantages in large-scale production, driving technological innovation in the equipment sector [1]

Investment Rating - The report maintains a "Positive" investment rating for the industry [3] Core Insights - The space photovoltaic industry is progressing, with significant capital expenditures from major CSP manufacturers exceeding expectations [1] - The demand for energy storage is driven by ongoing electricity shortages in the U.S., highlighting the cost-effectiveness of leading companies [14] - The report emphasizes the importance of new directions such as space photovoltaics, AIDC, and robotics, which are catalyzing investment opportunities [14] Summary by Sections Photovoltaics - The space photovoltaic sector is gaining traction, with SpaceX's application for 1 million satellites accepted by the FCC, indicating a robust future for space-based data centers [20] - The China Photovoltaic Industry Association released cost analysis, indicating that the average full cost of mainstream photovoltaic products is expected to stabilize, providing support for price recovery [21] - The report highlights the potential for significant growth in global photovoltaic installations, with annual additions projected between 725-870 GW during the 14th Five-Year Plan [22] Energy Storage - Sunshine Power announced plans to establish a production base in Poland, aiming for 20 GW of inverter capacity and 12.5 GWh of energy storage systems [39] - The report notes a 45% year-on-year increase in EU battery storage capacity, with large-scale storage systems becoming the main growth driver [39] - January saw a significant increase in independent storage projects, with a total of 12.3 GW/36 GWh of bids, despite a year-on-year decline due to procurement timing [40] Lithium Batteries - The demand for lithium batteries continues to strengthen, with all segments showing a willingness to maintain prices, indicating ongoing profitability improvements [14] - The report recommends focusing on battery segments, particularly companies like CATL and EVE Energy, which are expected to perform well in the medium term [14] Wind Power - The report emphasizes the start of a new wind power cycle during the 14th Five-Year Plan, with significant opportunities in commercial aerospace and offshore wind projects [14] - Companies involved in wind turbine manufacturing and components are highlighted as key investment opportunities [14] Power Equipment - The domestic power grid's investment plan is projected at 5 trillion yuan, with significant improvements in pricing and demand driven by electricity shortages in the U.S. [14] - The report suggests focusing on opportunities in AI for power management and virtual power plants [14] New Directions - The report highlights the importance of developments in humanoid robotics and AIDC technology, with specific companies recommended for investment based on their potential in these sectors [14]