【开源电新】底部强烈推荐永贵电器：已拿到维谛UQD定点，液冷接头已送样NV。 # 预期差1、UQD接头已经拿到维谛定点，目前每年给维谛发货3-4千万，液冷UQD已经送样NV。 主业核心受益于充电桩倍增计划 公司液冷接头已在轨交、军工、挖矿等领域量产配套，依托于高端制造领域配套经验，已经成功快速切入AI服务 器领域。 【开源电新】底部强烈推荐永贵电器：已拿到维谛UQD定点，液冷接头已送样NV。 远期公司20%份额，15%净利率，新增9亿利润。 主业核心受益于充电桩倍增计划 # 预期差1、UQD接头已经拿到维谛定点，目前每年给维谛发货3-4千万，液冷UQD已经送样NV。 公司液冷接头已在轨交、军工、挖矿等领域量产配套，依托于高端制造领域配套经验，已经成功快速切入AI服务 器领域。 市场空间：AI服务器功耗攀升，液冷刚需爆发，海外单台（72+36核）需108对接头，欧美金属接头100美金/对， 单服务器价值量1万美金，对应UQD市场空间约300亿。 市场空间：AI服务器功耗攀升，液冷刚需 ...

Group 1 - The core viewpoint of the news is the implementation of the "Implementation Opinions on Improving the National Unified Electricity Market System" by the State Council, which outlines the goals and tasks for the electricity market over the next 5 to 10 years [1] - The implementation opinions emphasize the need to improve cross-provincial and cross-regional electricity trading systems, promoting regular market transactions between State Grid and Southern Grid, and increasing the scale of cross-regional transmission and the proportion of clean energy delivery [1] - The opinions also encourage greater participation of private enterprises in the electricity market and aim to refine the electricity pricing mechanism primarily determined by supply and demand, prohibiting local governments from unlawfully implementing preferential pricing policies [1] Group 2 - The China Securities report indicates that during the "14th Five-Year Plan" period, the country faces a contradiction between increasing decarbonization pressure and slowing growth in new energy installations, necessitating policy support for further low-carbon transitions [1] - A national capacity pricing policy is set to be introduced in January 2026, which will encourage the construction of stable power sources and open up space for new energy installations, while providing high-yield investment options for power companies [1] - The report estimates that even with lower capacity price subsidies, the profitability of energy storage projects will improve, potentially driving demand for energy storage not only in northern regions but also in central and eastern provinces [1] Group 3 - The ChiNext New Energy Index covers various segments of the new energy and electric vehicle industries, including batteries and photovoltaics, and is the only new energy index on the ChiNext with a 20% daily price fluctuation limit [2] - The ChiNext New Energy ETF (159368) is characterized by high elasticity, with a maximum increase of 20%, and has the lowest fees, with a total management and custody fee of only 0.2% [2] - The ETF has a nearly 90% allocation to energy storage and solid-state batteries, aligning with current market trends [2]

（文章来源：证券日报） 证券日报网讯 2月5日，永贵电器在互动平台回答投资者提问时表示，公司近几年逐步加大数据中心相 关产品研发投入，并在积极推进数据中心相关配套产品快速研发及市场化转化，以迅速响应客户需求。 ...

经济观察网2026年1月30日，永贵电器（300351）发布2025年度业绩预告，预计2025年净利润5660.83万 元至7547.78万元，同比下降40%至55%；扣除非经常性损益后的净利润5178.69万元至6904.91万元，同 比下降40%至55%。 ...

格隆汇1月30日丨永贵电器(300351.SZ)公告，预计2025年度净利润为5660.83万元–7547.78万元，同比下 降40%-55%。本报告期内，公司业绩出现下滑，主要受以下因素影响：1.新能源汽车业务因客户降价压 力等原因导致毛利率下降明显；2.公司2025年发行可转换公司债券，相应计提的财务利息支出增加；3. 海外项目扩张处于投入期，阶段性影响整体盈利等。 ...

南财智讯1月30日电，永贵电器发布2025年度业绩预告，预计2025年全年归属于上市公司股东的净利润 为5660.83万元—7547.78万元，同比预减40.00%—55.00%；预计2025年全年归属于上市公司股东的扣除 非经常性损益的净利润为5178.69万元—6904.91万元，同比预减40.00%—55.00%。本报告期内，公司业 绩出现下滑，主要受以下因素影响：1.新能源汽车业务因客户降价压力等原因导致毛利率下降明显；2. 公司2025年发行可转换公司债券，相应计提的财务利息支出增加；3.海外项目扩张处于投入期，阶段性 影响整体盈利等。 ...

| 证券代码：300351 | 证券简称：永贵电器 | 公告编码：2026-004 | | --- | --- | --- | | 债券代码：123253 | 债券简称：永贵转债 | | 浙江永贵电器股份有限公司 （一）业绩预告期间 本次业绩预告相关数据未经会计师事务所审计。公司就业绩预告有关重大事 项与会计师事务所进行了预沟通，公司与会计师事务所在业绩预告方面不存在重 大分歧。 2025 年 1 月 1 日至 2025 年 12 月 31 日 （二）业绩预告情况 扭亏为盈 同向上升 同向下降 | 项目 | 本报告期 | 上年同期 | | --- | --- | --- | | 归属于上市公司股东 的净利润 | 盈利：5,660.83万元–7,547.78 万元 | 盈利：12,579.63万元 | | | 比上年同期下降：40% - 55% | | | 扣除非经常性损益 后的净利润 | 盈利：5,178.69万元–6,904.91 万元 | 盈利：11,508.19万元 | | | 比上年同期下降：40% - 55 % | | 二、与会计师事务所沟通情况 2025 年度业绩预告 本公司及董事会全体成员保证信 ...

Core Viewpoint - The Chinese electric vehicle (EV) high-voltage component industry has transitioned from policy-driven to market-driven growth, with increasing consumer acceptance of pure electric and hybrid models, leading to a significant expansion in production and sales, and a surge in demand for high-voltage components [1][10]. Industry Overview - The high-voltage system in EVs is crucial for energy storage, conversion, transmission, and usage, operating at hundreds of volts, which distinguishes EVs from traditional fuel vehicles [2]. - High-voltage components are essential for the efficient operation of EVs, enabling energy management and enhancing overall performance [4]. Market Size and Growth - By 2025, the market size of China's high-voltage component industry is projected to reach 311.66 billion yuan, representing a year-on-year growth of 26.5%, capturing 49.32% of the global market share [1][10]. - In the first nine months of 2025, China's production and sales of new energy vehicles reached 11.24 million and 11.23 million units, respectively, with a year-on-year growth of 35.2% and 34.9% [8]. Industry Barriers - The high-voltage component industry faces significant technical barriers, requiring precise design, programming skills, and a deep understanding of system logic to ensure performance, reliability, and safety [5][6]. Market Policies - The Chinese government has implemented various policies to support the development of the automotive parts industry, including high-voltage components, creating a favorable environment for growth [6]. Industry Chain - The upstream of the high-voltage component industry includes suppliers of raw materials like copper, aluminum, and rare earths, while the downstream consists of EV manufacturers and the aftermarket, which is seeing increased demand as early EVs enter replacement cycles [7][8]. Competitive Landscape - The industry is characterized by a fragmented market with numerous players focusing on specific segments. Key companies include Xinrui Technology, Zhonghang Optoelectronics, BYD Semiconductor, and Futec Technology [10][11]. Development Trends - The industry is expected to see a shift towards higher voltage and efficiency, with wide bandgap semiconductor materials playing a crucial role in enhancing energy conversion efficiency [14]. - There will be a trend towards system integration and modularization, aiming for lightweight designs and cost control [14]. - Collaboration within the supply chain will deepen, with a focus on localizing key materials and components to build a self-sufficient supply chain [15].

（文章来源：证券日报） 证券日报网讯 1月26日，永贵电器在互动平台回答投资者提问时表示，公司近几年逐步加大数据中心相 关产品研发投入，并在积极推进数据中心相关配套产品快速研发及市场化转化，以迅速响应客户需求。 ...

格隆汇1月26日丨永贵电器(300351.SZ)在投资者互动平台表示，公司与巡天千河已建立合作关系，并布 局了低轨卫星星座相关产品。 ...