（文章来源：证券日报） 证券日报网讯 2月12日，佳电股份在互动平台回答投资者提问时表示，截至2026年2月10日，公司股东 总数为27779户。 ...

Core Viewpoint - The company,佳电股份, focuses on special motors and shielded motor pumps, with a commitment to exploring potential applications in photovoltaic technology based on market demand and strategic development plans [1]. Group 1: Company Overview - The company specializes in special motors and shielded motor pumps, with a product range of 347 series and nearly 4,000 varieties [1]. - The power coverage of the company's motor products ranges from 0.37 to 80,000 kilowatts, with an annual production capacity exceeding 15 million kilowatts [1]. - The company has achieved full coverage of industrial motor products, which are widely used in industries such as petroleum, chemical, nuclear power, and hydropower [1]. Group 2: Future Outlook - The company is closely monitoring the development direction of national strategic emerging industries and is open to exploring relevant technological applications in the future [1].

Core Viewpoint - The company emphasizes that its new level 1 energy-efficient high-voltage motors and series of high-efficiency energy-saving motors are essential for equipment upgrades across various industries, meeting higher energy efficiency standards [1] Group 1: Company Products - The new high-voltage motors and energy-saving motors are critical devices for industries such as power, petrochemicals, and mining [1] - These products will be widely applied in fan and water pump systems [1]

Market Overview - The machinery sector experienced a slight decline of 0.04% on the previous trading day, with China Electric Motor leading the losses [1] - The Shanghai Composite Index closed at 4102.2, up by 0.85%, while the Shenzhen Component Index closed at 14156.27, up by 0.21% [1] Stock Performance - Key stocks in the machinery sector showed varied performance, with Jiadian Co. rising by 3.37% to a closing price of 14.74, and China Electric Motor falling by 3.32% to 30.54 [1][2] - The trading volume and turnover for notable stocks included: - Jiadian Co.: 155,500 shares, turnover of 228 million yuan - Zhaowei Electromechanical: 84,300 shares, turnover of 1.038 billion yuan - China Electric Motor: 153,000 shares, turnover of 479 million yuan [1][2] Capital Flow - The machinery sector saw a net outflow of 154 million yuan from institutional investors, while retail investors contributed a net inflow of 57.18 million yuan [2] - Notable capital flows for specific stocks included: - Zhaowei Electromechanical: net inflow of 1.21 billion yuan from institutional investors - China Electric Motor: net outflow of 39.74 million yuan from institutional investors [3]

Core Viewpoint - The company acknowledges the differing market performances between itself and its brother company, Harbin Electric, attributing the disparity to industry characteristics and market conditions [1]. Group 1: Company Performance - Harbin Electric has seen its stock price rise from over 1 HKD to around 20 HKD, while the company's performance has been inconsistent in recent years [1]. - The company operates in a short-cycle industry focused on various industrial and special motors, contrasting with Harbin Electric's long-cycle business in large power generation equipment [1]. Group 2: Strategic Initiatives - The company plans to complete a significant asset restructuring by December 2023, acquiring control of a dynamic equipment company [1]. - A specific share issuance is scheduled for March 2025, aiming to raise approximately 1.1 billion CNY at a price of 10.92 CNY per share [1]. - The company emphasizes a cash dividend policy of at least 30% of distributable profits annually and is actively engaging in various investor relations activities [1]. Group 3: Market and Competitive Strategy - The company is committed to enhancing its core competitiveness through increased R&D investment and the introduction of competitive new products and services [1]. - It aims to expand its market presence while maintaining stability in existing markets and exploring new business opportunities [1]. - The company is focused on steady operations and strategic development to deliver better performance for shareholders [1].

Group 1 - The company,佳电股份, reported that as of January 30, 2026, the total number of shareholders is 27,773 [2]

Core Viewpoint - The production of AC electric motors in China is projected to decline slightly in 2025, with a year-on-year decrease of 1.1% in December and a cumulative decrease of 0.5% for the entire year [1]. Group 1: Industry Overview - The total production of AC electric motors in China for the year 2025 is expected to reach 34,988.5 million kilowatts [1]. - The production volume in December 2025 is forecasted to be 33,220,000 kilowatts [1]. Group 2: Related Companies - Listed companies in the AC electric motor sector include Wolong Electric Drive (600580), Jiadian Co., Ltd. (000922), China Electric Motor (603988), Shanghai Electric (601727), and Dongfang Electric (600875) [1]. Group 3: Research Report - The report titled "2026-2032 China AC Electric Motor Industry Market Development Research and Investment Prospects" has been published by Zhiyan Consulting, a leading industry consulting firm in China [2].

Investment Rating - The industry rating is "stronger than the market" indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% in the next 6 months [13]. Core Insights - Major technology and new energy companies are entering the nuclear power sector, creating a diversified new landscape for nuclear energy in China. Companies like Alibaba and Geely are investing in coastal nuclear power projects, focusing on stable energy to support computing power demands [3][4]. - The policy environment is increasingly favorable for private investment in nuclear power, with the proportion of private capital expected to rise to 10% by 2024. This trend is supported by the integration of AI and nuclear energy, which is anticipated to deepen as the demand for computing power grows [4]. - Small Modular Reactors (SMR) are highlighted as a key solution to meet the energy demands of AI, with significant interest from technology giants. Companies are developing tailored energy solutions for data centers using SMR technology [5]. Company Summaries - **Jingye Intelligent**: Plans to establish a subsidiary focused on SMR technology for AI data center power supply [6]. - **Jia Electric**: Its main helium fan is the only power device for the fourth-generation high-temperature gas-cooled reactor's primary circuit, leading in the nuclear power business segment [6]. - **Guoguang Electric**: Provides critical components for the ITER project, focusing on filter and cladding systems [6]. - **Lanshi Heavy Industry**: Covers the entire nuclear energy supply chain from upstream nuclear fuel systems to downstream spent fuel processing [6]. - **Kexin Electromechanical**: Produces high-temperature gas-cooled reactor products and has developed domestic alternatives for new fuel transport containers [6]. - **Hailu Heavy Industry**: Services various reactor types, including third and fourth-generation reactors and fusion reactors [6]. - **Jiangsu Shentong**: Secured over 90% of orders for nuclear-grade butterfly valves and ball valves for new nuclear power projects in China [6].

Market Overview - The electric motor sector experienced a decline of 1.21% on the previous trading day, with Huayang Intelligent leading the drop [1] - The Shanghai Composite Index closed at 4151.24, up by 0.27%, while the Shenzhen Component Index closed at 14342.9, up by 0.09% [1] Stock Performance - Notable gainers in the electric motor sector included: - China Electric Motor (603988) with a closing price of 38.13, up by 10.01% and a trading volume of 151,300 shares, totaling 567 million yuan [1] - Fangzheng Electric (002196) closed at 18.25, up by 4.95% with a trading volume of 1,320,200 shares, totaling 2.327 billion yuan [1] - Conversely, significant decliners included: - Huayang Intelligent (301502) which closed at 44.79, down by 5.61% with a trading volume of 22,100 shares, totaling 101 million yuan [2] - Yifan Transmission (301023) closed at 48.39, down by 4.25% with a trading volume of 59,000 shares, totaling 288 million yuan [2] Capital Flow - The electric motor sector saw a net outflow of 671 million yuan from major funds, while retail investors contributed a net inflow of 605 million yuan [2] - The detailed capital flow for selected stocks showed: - China Electric Motor had a net inflow of 41.27 million yuan from major funds, while retail investors had a net outflow of 8.35 million yuan [3] - Fangzheng Electric experienced a net inflow of 25.17 million yuan from major funds, with a net outflow of 1.65 million yuan from retail investors [3]

Core Viewpoint - On January 26, a total of 8 listed companies will have their restricted shares unlocked, with a total market value of approximately 2.11 billion yuan [1] Summary by Category Restricted Share Unlocking - The companies involved in the unlocking of restricted shares include: - Meili Eco (000010) with 45.48 million shares from equity incentive restrictions - Jiadian Co. (000922) with 236,500 shares from equity incentive restrictions - Nanjing Pharmaceutical (600713) with 5.43 million shares from equity incentive restrictions - Nuofushin (002215) with 4.43 million shares from equity incentive restrictions - Great Wall Motors (601633) with 13.67 million shares from equity incentive restrictions - Xutian Salt Industry (600929) with 513,600 shares from equity incentive restrictions - Tianzheng Electric (605066) with 462,500 shares from equity incentive restrictions - Yifang Bio (688382) with 161 million shares [1]