Market Overview - On January 19, A-shares showed significant index differentiation: the Shanghai Composite Index rose by 0.29% to 4114.0 points, while the Shenzhen Component Index increased by 0.09%. The ChiNext Index fell by 0.7%, and the STAR 50 Index decreased by 0.48% [1] - A total of 3409 stocks rose, while 1665 stocks declined, with a total trading volume of 2.71 trillion yuan, a decrease of approximately 317.89 billion yuan compared to the previous day [1] - The net outflow of main funds was 42.41 billion yuan, with the highest net inflow in the power grid equipment sector and the largest net outflow in the internet services sector [1] Key Stocks and Sectors - TBEA became a market hotspot due to its alignment with policy directions, benefiting from accelerated domestic UHV construction and ongoing overseas grid upgrades [2] - Haige Communication gained attention for its involvement in multiple hot sectors, including brain-computer interfaces and satellite internet, supported by policy and demand growth [2] - China XD Electric's rise was driven by concentrated policy benefits, with significant investment in the power grid during the 14th Five-Year Plan, amounting to an expected 4 trillion yuan [2] - Goldwind Technology's popularity stemmed from its dual focus on commercial space and favorable wind power fundamentals, with its stake in Blue Arrow Aerospace attracting market interest [2] - Yanshan Technology was highlighted for its engagement in trending tech sectors, including AI applications and smart driving, with a focus on self-developed large models [2] Additional Notable Stocks - Hanchang Co.'s rise was fueled by direct policy support from the State Grid's 4 trillion yuan fixed asset investment plan, enhancing the overall activity in the power grid equipment sector [3] - Baobian Electric gained market focus due to a combination of policy benefits, industry demand, and company strengths, with expectations of business integration under state-owned enterprise reforms [3] - Wuzhou New Spring attracted attention for its humanoid robot and reducer concepts, benefiting from a comprehensive smart manufacturing supply chain [3] - The top ten popular stocks in A-shares included TBEA, Haige Communication, China XD Electric, Goldwind Technology, Yanshan Technology, Hanchang Co., Baobian Electric, Wuzhou New Spring, Senyuan Electric, and Sanbian Technology [4]

Core Viewpoint - The A-share market is expected to maintain a high-level oscillation pattern in the short term, characterized by a "slow bull" market under policy support, with a focus on sectors with strong industrial trends, clear policy expectations, and robust earnings realization [3][13][14]. Market Performance - The Shanghai Composite Index rose by 0.29% to 4114 points, while the ChiNext Index fell by 0.7% to 3337.61 points, indicating a mixed performance across indices [4]. - The total trading volume decreased to 2.73 trillion yuan, with a margin balance of 2.73 trillion yuan as of January 16 [4]. Sector Performance - The electric power equipment sector saw a surge, with 23 stocks hitting the daily limit, including notable gains from companies like TBEA Co., Ltd. and Goldwind Science & Technology [10][11]. - Traditional industries such as chemicals and oil, as well as emerging sectors like military industry, attracted significant capital, aligning with China's industrial upgrade and economic restructuring [13]. Individual Stock Highlights - TBEA Co., Ltd. (stock code: 600089) experienced a 66.6% increase year-to-date, with a market capitalization of 154.1 billion yuan [5]. - Goldwind Science & Technology (stock code: 002202) saw a year-to-date increase of 244%, with a market capitalization of 117 billion yuan [5]. - The defense and military sector had seven stocks hitting the daily limit, including AVIC Aircraft and AVIC Power [12]. Investment Strategy - Investors are advised to focus on sectors with long-term growth potential, such as new energy, digital economy, and aerospace, while also considering market capital flows and industry trends for portfolio adjustments [16]. - The recommended investment strategy includes a focus on "technology innovation + cyclical growth," with an emphasis on high-dividend stocks as a stable base [16].

Core Viewpoint - Goldwind Technology (02208) announced that its wholly-owned subsidiary, Goldwind International Holdings (Hong Kong) Limited, through its subsidiary Goldwind Energy Italy S.r.l., signed a Wind Turbine Supply and Installation Agreement with Eolico San Vito S.r.l. for the provision of wind turbine supply, installation, commissioning, and defect liability services [1] Group 1: Agreement Details - The agreement involves Goldwind Italy supplying wind turbines to the project site and providing related services [1] - A parent company guarantee agreement was signed to secure the performance obligations under the wind turbine supply and installation agreement, with a guarantee amount of €36.72 million, equivalent to approximately RMB 298 million [1] Group 2: Financial Implications - Following the guarantee, the total external guarantees provided by the company and its subsidiaries will amount to RMB 1.114 billion, representing 2.89% of the company's most recent audited net assets [1] - The guarantees provided to entities outside the consolidated financial statements will total RMB 261 million, accounting for 0.68% of the company's most recent audited net assets [1] Group 3: Current Status - As of now, the company and its subsidiaries have no overdue guarantees or guarantees involved in litigation [1]

Core Viewpoint - Goldwind Technology (金风科技) has signed a wind turbine supply and installation agreement with Eolico San Vito S.r.l. through its wholly-owned subsidiary Goldwind Energy Italy S.r.l. [1] Group 1: Agreement Details - The agreement includes the supply of wind turbines to the project site, installation, debugging, trial operation, and services during the defect liability period [1] - The company has also signed a parent company guarantee agreement to secure the performance obligations under the wind turbine supply agreement, with a guarantee amount of €36.72 million, equivalent to approximately RMB 298 million [1] Group 2: Financial Implications - The signing date of the parent company guarantee agreement is January 19, 2026, and it is located in Beijing [1] - After this guarantee is fully executed, the total external guarantees provided by the company and its subsidiaries will amount to RMB 1.114 billion, accounting for 2.89% of the company's most recent audited net assets [1] - Among these, the guarantees provided to entities outside the consolidated financial statements will be RMB 261 million, representing 0.68% of the company's most recent audited net assets [1] - Currently, the company and its subsidiaries have no overdue guarantees or guarantees involved in litigation [1]

Group 1 - The A-share market showed mixed performance on January 19, with major indices fluctuating, while most industry sectors experienced gains, particularly in precious metals, electric power equipment, aerospace, and tourism [1] - The net outflow of main funds in the Shanghai and Shenzhen markets reached 39.798 billion yuan, with six industries seeing net inflows, including electric power equipment, building materials, and banking [1] - The electronic, computer, and communication sectors faced the largest net outflows, with amounts of 9.971 billion yuan, 8.997 billion yuan, and 6.184 billion yuan respectively [1] Group 2 - Seven stocks recorded net inflows exceeding 400 million yuan, with China West Electric leading at 1.076 billion yuan, supported by a government announcement projecting a significant increase in national electricity consumption [2][3] - New Yisheng and Goldwind Technology followed with net inflows of 836 million yuan and 738 million yuan respectively, with Goldwind announcing a supply agreement for wind turbines [2] - A total of 74 stocks experienced net outflows exceeding 200 million yuan, with Ningde Times, Shannon Chip, and Oriental Fortune among those with the highest outflows, each exceeding 1 billion yuan [4][5] Group 3 - At the end of the trading day, the main funds saw a net outflow of 5.829 billion yuan, with significant inflows in the electric power equipment sector [6] - Key individual stocks with notable net inflows at the close included TBEA, New Yisheng, and Kidswant, each exceeding 100 million yuan [6][7] - Conversely, stocks like Rock Mountain Technology and Shannon Chip experienced substantial net outflows, each exceeding 200 million yuan [8]

Core Viewpoint - The company, Goldwind Technology (02208), announced the voluntary disclosure regarding the public offering of an infrastructure REITs project and the proposed spin-off for independent listing on the Shenzhen Stock Exchange [1] Group 1: REITs Project Announcement - The fund manager for the REITs project is Jianxin Fund Management Co., Ltd., and the asset support special plan manager is Jianxin Capital Management Co., Ltd. They submitted application materials to the China Securities Regulatory Commission (CSRC) and Shenzhen Stock Exchange (SZSE) on September 4, 2023 [1] - The targeted asset for the REITs project is the Quan Nan Tian Run Tian Pai Shan New Energy Co., Ltd. holding the Quan Nan Tian Pai Shan project [1] Group 2: Termination of REITs Project - To further integrate project resources and optimize operational management, the company held its ninth board meeting on January 16, 2026, where it approved the proposal to terminate the REITs project application and issuance [1] - The company plans to submit an application to the CSRC and SZSE to terminate the review process for the REITs project [1]

Core Viewpoint - The company JinWind Technology (金风科技) announced the voluntary termination of its public offering of an infrastructure REITs project, which was initially submitted for approval to the China Securities Regulatory Commission (CSRC) and Shenzhen Stock Exchange (SZSE) [1] Group 1: REITs Project Announcement - JinWind Technology published a voluntary announcement regarding the public offering of an infrastructure securities investment fund (REITs project) [1] - The fund manager, Jianxin Fund Management Co., Ltd., and the asset support plan manager, Jianxin Capital Management Co., Ltd., submitted application materials to the CSRC and SZSE on September 4, 2023 [1] - The targeted asset pool for this REITs project includes the assets held by Quannan Tianrun Tianpai Mountain New Energy Co., Ltd. [1] Group 2: Termination of REITs Project - The company held its ninth board meeting on January 16, 2026, where it approved the proposal to terminate the public REITs application and issuance process [1] - The company plans to submit an application to the CSRC and SZSE to terminate the review process for the REITs project [1]

Core Viewpoint - The company has decided to terminate the public offering of its infrastructure REITs project, which was initially proposed for independent listing on the Shenzhen Stock Exchange [1] Group 1: REITs Project Overview - The company announced a voluntary disclosure regarding the public offering of an infrastructure securities investment fund on September 28, 2021 [1] - On September 5, 2023, the company proposed a split of the REITs project for independent listing on the Shenzhen Stock Exchange [1] - The fund manager, Jianxin Fund Management Co., Ltd., and the asset support special plan manager, Jianxin Capital Management Co., Ltd., submitted application materials to the China Securities Regulatory Commission and the Shenzhen Stock Exchange on September 4, 2023 [1] Group 2: Termination of REITs Project - The company held its ninth board meeting on January 16, 2026, where it approved the proposal to terminate the public offering of the infrastructure REITs [1] - The company plans to submit an application to the China Securities Regulatory Commission and the Shenzhen Stock Exchange to terminate the review process for the REITs project [1]

GOLDWIND SCIENCE&TECHNOLOGY CO., LTD.* 金風科技股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司 ) (Stock Code: 02208) 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 股票代码：002202 股票简称：金风科技 公告编号：2026-010 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 茲載列金風科技股份有限公司在深圳證券交易所網站刊登的《金風科技股份有限 公司第九屆董事會第十次會議決議公告》，僅供參閱。 承董事會命 金風科技股份有限公司 馬金儒 公司秘書 北京，2026年1月19日 於本公告日期，公司執行董事為武鋼先生及曹志剛先生；公司非執行董事為高建軍先生、楊 麗迎女士及張旭東先生；公司獨立非執行董事為曾憲芬先生、劉登清先生及苗兆光先生；及 公司職工代表董事為余寧女士。 *僅供識別 金风科技股份有限公司 第九届董事会第十次会议决议公告 | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 GOLDWIND SCIENCE&TECHNOLOGY CO., LTD.* 金風科技股份有限公司 ( 於中華人民共和國註冊成立的股份有限公司 ) (Stock Code: 02208) 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作出。 股票代码：002202 股票简称：金风科技 公告编号：2026-009 金风科技股份有限公司 关于为全资子公司金风意大利提供担保的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 特别提示：本次拟担保的被担保对象 Goldwind Energy Italy S.r.l. 资产负债率超过 70%，请投资者充分关注担保风险。 茲載列金風科技股份有限公司在深圳證券交易所網站刊登的《金風科技股份有限 公司關於為全資子公司金風意大利提供擔保的公告》，僅供參閱。 承董事會命 金風科技股份有 ...