电力与新能源装备6大赛道横向对比
380家上市公司 · 按评分排名 · 数据口径：2025年报
6大赛道总览
| 赛道 | 公司数 | 评分中位 | 毛利率中位 | 净利率中位 | 亏损数 | 健康度 |
|---|
| 电网设备 | 142 | 51 | 22.7% | 3.8% | 26 | 承压 |
| 电池 | 91 | 46 | 17.3% | 2.8% | 22 | 重灾区 |
| 光伏设备 | 63 | 41 | 11.1% | -1.1% | 33 | 重灾区 |
| 其他电源设备Ⅱ | 31 | 54 | 22.3% | 4.2% | 9 | 承压 |
| 风电设备 | 28 | 44 | 15.5% | 4.3% | 4 | 重灾区 |
| 电机Ⅱ | 25 | 56 | 20.9% | 5.7% | 1 | 承压 |
对比结论：电机Ⅱ（56） > 其他电源设备Ⅱ（54） > 电网设备（51） > 电池（46） > 风电设备（44） > 光伏设备（41）。光伏设备净利率中位已为负，是六大赛道中唯一“亏损常态化”的赛道；电机Ⅱ、其他电源设备Ⅱ、电网设备需求稳定，成本管理基础扎实。
电网设备（142家）
赛道画像：特高压、智能电网、配电、二次设备。评分中位51分，毛利率中位22.7%，净利率中位3.8%，26家亏损。
| # | 公司 | 毛利率 | 净利率 | 研发费率 | 销售费率 | 评分 | 等级 |
|---|
| 1 | 炬华科技 | 43.1% | 33.6% | 8.2% | 3.5% | 88分 | A |
| 2 | 国电南瑞 | 25.8% | 12.5% | 5.4% | 3.7% | 87分 | A |
| 3 | 许继电气 | 23.4% | 7.8% | 5.2% | 5.1% | 85分 | A |
| 4 | 西力科技 | 33.1% | 18.4% | 5.5% | 3.6% | 84分 | A- |
| 5 | 广信科技 | 39.0% | 24.9% | 2.9% | 1.2% | 83分 | A- |
| 6 | 国网英大 | 41.1% | 21.2% | 2.6% | 2.3% | 83分 | A- |
| 7 | 金冠电气 | 28.4% | 11.1% | 3.6% | 4.0% | 83分 | A- |
| 8 | 安科瑞 | 46.5% | 18.8% | 10.8% | 13.4% | 80分 | A- |
| 9 | 国电南自 | 26.3% | 5.0% | 7.1% | 4.5% | 79分 | A- |
| 10 | 南网科技 | 29.8% | 11.4% | 7.6% | 3.0% | 78分 | A- |
| 11 | 开发科技 | 39.3% | 23.4% | 5.6% | 5.1% | 77分 | A- |
| 12 | 华明装备 | 54.5% | 29.2% | 3.6% | 10.4% | 76分 | A- |
| 13 | 特锐德 | 27.4% | 7.9% | 3.5% | 7.0% | 73分 | B+ |
| 14 | 特变电工 | 18.9% | 6.1% | 1.8% | 3.4% | 72分 | B+ |
| 15 | 天正电气 | 24.0% | 3.3% | 5.2% | 10.4% | 72分 | B+ |
| 16 | 煜邦电力 | 29.6% | 7.5% | 7.2% | 5.5% | 72分 | B+ |
| 17 | 宏发股份 | 34.3% | 10.2% | 5.3% | 3.3% | 71分 | B+ |
| 18 | 四方股份 | 30.2% | 10.1% | 8.6% | 6.7% | 71分 | B+ |
| 19 | 思源电气 | 30.8% | 14.6% | 6.0% | 4.8% | 71分 | B+ |
| 20 | 新宏泰 | 28.3% | 10.4% | 5.5% | 2.4% | 70分 | B+ |
| 21 | 平高电气 | 23.9% | 8.9% | 5.0% | 3.5% | 69分 | B+ |
| 22 | 昊创瑞通 | 24.6% | 11.7% | 3.9% | 4.0% | 68分 | B+ |
| 23 | 三星医疗 | 28.0% | 8.9% | 4.2% | 7.8% | 66分 | B+ |
| 24 | 西典新能 | 15.7% | 9.4% | 2.7% | 0.5% | 65分 | B+ |
| 25 | 宝光股份 | 19.4% | 4.1% | 4.0% | 3.0% | 64分 | B |
| 26 | 宏力达 | 52.2% | 98.0% | 7.1% | 9.3% | 64分 | B |
| 27 | 友讯达 | 36.9% | 8.8% | 10.3% | 13.0% | 64分 | B |
| 28 | 派诺科技 | 31.9% | 1.4% | 9.2% | 14.4% | 64分 | B |
| 29 | 东方电缆 | 22.1% | 11.7% | 3.5% | 2.0% | 63分 | B |
| 30 | 金盘科技 | 25.9% | 9.0% | 4.9% | 4.4% | 63分 | B |
| 31 | 中国西电 | 22.9% | 5.3% | 5.0% | 3.5% | 62分 | B |
| 32 | 神马电力 | 46.2% | 25.1% | 4.0% | 6.4% | 62分 | B |
| 33 | 聚星科技 | 18.8% | 9.7% | 3.8% | 1.9% | 61分 | B |
| 34 | 灿能电力 | 52.1% | 19.8% | 8.7% | 17.6% | 61分 | B |
| 35 | 雅达股份 | 32.0% | 7.2% | 9.0% | 8.6% | 60分 | B |
| 36 | 新风光 | 21.8% | 4.8% | 5.0% | 7.8% | 60分 | B |
| 37 | 正泰电器 | 26.0% | 7.6% | 2.2% | 4.3% | 58分 | B |
| 38 | 万控智造 | 20.6% | 4.7% | 3.7% | 4.6% | 58分 | B |
| 39 | 智洋创新 | 28.7% | 5.3% | 9.9% | 7.5% | 58分 | B |
| 40 | 科汇股份 | 42.7% | 9.3% | 11.2% | 14.6% | 58分 | B |
| 41 | 长高电新 | 38.8% | 20.6% | 7.4% | 7.1% | 58分 | B |
| 42 | 大连电瓷 | 32.1% | 11.9% | 5.1% | 3.8% | 58分 | B |
| 43 | 万胜智能 | 24.6% | 8.7% | 6.1% | 4.8% | 58分 | B |
| 44 | 众智科技 | 57.9% | 33.3% | 9.8% | 7.8% | 58分 | B |
| 45 | 未来电器 | 28.0% | 17.7% | 4.1% | 2.6% | 58分 | B |
| 46 | 科林电气 | 19.3% | 5.9% | 4.6% | 6.5% | 57分 | B |
| 47 | 洛凯股份 | 16.3% | 3.6% | 4.4% | 2.7% | 57分 | B |
| 48 | 东方电子 | 32.2% | 10.9% | 8.1% | 9.8% | 57分 | B |
| 49 | 信通电子 | 32.9% | 13.0% | 7.3% | 8.0% | 57分 | B |
| 50 | 金智科技 | 27.5% | 4.2% | 9.3% | 8.7% | 57分 | B |
| 51 | 迦南智能 | 26.8% | 12.6% | 7.3% | 4.3% | 57分 | B |
| 52 | 保变电气 | 15.3% | 3.5% | 2.0% | 4.3% | 56分 | B |
| 53 | 海兴电力 | 38.3% | 15.3% | 8.2% | 10.8% | 56分 | B |
| 54 | 许昌智能 | 22.4% | 1.9% | 5.0% | 5.2% | 55分 | B |
| 55 | 长城科技 | 4.7% | 2.5% | 0.5% | 0.2% | 55分 | B |
| 56 | 新联电子 | 38.3% | 84.0% | 6.7% | 4.3% | 55分 | B |
| 57 | 良信股份 | 29.2% | 5.9% | 7.2% | 8.7% | 55分 | B |
| 58 | 华盛昌 | 41.5% | 11.1% | 10.3% | 9.4% | 55分 | B |
| 59 | 中元股份 | 48.5% | 21.3% | 10.5% | 9.8% | 55分 | B |
| 60 | 麦克奥迪 | 40.5% | 11.3% | 5.6% | 8.9% | 55分 | B |
| 61 | 山大电力 | 43.0% | 19.5% | 7.1% | 12.9% | 54分 | B- |
| 62 | 顺钠股份 | 21.0% | 4.6% | 4.2% | 3.5% | 53分 | B- |
| 63 | 科陆电子 | 22.8% | -2.5% | 6.3% | 6.2% | 53分 | B- |
| 64 | 安靠智电 | 34.7% | 8.9% | 8.5% | 5.7% | 53分 | B- |
| 65 | 泽宇智能 | 25.9% | 12.5% | 5.3% | 5.6% | 53分 | B- |
| 66 | 明阳电气 | 21.1% | 8.5% | 3.1% | 3.9% | 53分 | B- |
| 67 | 百利电气 | 20.5% | 4.0% | 4.6% | 4.8% | 52分 | B- |
| 68 | 赛摩智能 | 36.1% | -9.1% | 7.0% | 14.4% | 52分 | B- |
| 69 | 江苏华辰 | 16.2% | 3.1% | 3.8% | 4.2% | 51分 | B- |
| 70 | 杭州柯林 | 49.2% | -1.5% | 20.9% | 9.0% | 51分 | B- |
| 71 | 日丰股份 | 11.2% | 3.5% | 3.1% | 1.3% | 51分 | B- |
| 72 | 三友联众 | 17.8% | 3.1% | 4.3% | 3.1% | 51分 | B- |
| 73 | 柘中股份 | 25.8% | 50.2% | 1.0% | 1.6% | 50分 | B- |
| 74 | 宏远股份 | 7.1% | 3.9% | 0.3% | 0.7% | 49分 | C+ |
| 75 | 精达股份 | 5.7% | 2.4% | 0.5% | 0.4% | 49分 | C+ |
| 76 | 华菱线缆 | 11.1% | 2.4% | 3.2% | 4.1% | 49分 | C+ |
| 77 | 万马股份 | 12.1% | 1.8% | 3.4% | 3.8% | 49分 | C+ |
| 78 | 积成电子 | 24.4% | 0.7% | 7.6% | 6.5% | 49分 | C+ |
| 79 | 北京科锐 | 21.0% | 2.5% | 3.5% | 7.1% | 49分 | C+ |
| 80 | 金杯电工 | 10.2% | 3.0% | 3.2% | 1.9% | 49分 | C+ |
| 81 | 长缆科技 | 30.9% | 9.3% | 5.0% | 7.3% | 49分 | C+ |
| 82 | 凯发电气 | 24.0% | 2.6% | 4.8% | 4.1% | 49分 | C+ |
| 83 | 双杰电气 | 15.2% | 3.8% | 2.3% | 4.1% | 49分 | C+ |
| 84 | 中辰股份 | 11.2% | -0.5% | 3.5% | 3.5% | 49分 | C+ |
| 85 | 泓淋电力 | 13.2% | 5.1% | 3.6% | 1.7% | 49分 | C+ |
| 86 | 通达股份 | 7.6% | 2.0% | 1.9% | 1.7% | 48分 | C+ |
| 87 | 智光电气 | 16.2% | 3.5% | 4.8% | 3.8% | 46分 | C+ |
| 88 | 众业达 | 8.6% | 1.7% | 0.3% | 4.4% | 46分 | C+ |
| 89 | 亿能电力 | 25.3% | 7.0% | 4.2% | 4.9% | 45分 | C+ |
| 90 | 远东股份 | 9.2% | 0.2% | 2.0% | 3.7% | 45分 | C+ |
| 91 | 白云电器 | 19.3% | 4.1% | 3.3% | 3.8% | 45分 | C+ |
| 92 | 华通线缆 | 15.2% | 3.8% | 1.4% | 2.1% | 45分 | C+ |
| 93 | 汉缆股份 | 14.0% | 5.3% | 5.1% | 2.0% | 45分 | C+ |
| 94 | 殷图网联 | 28.7% | 2.4% | 14.3% | 5.8% | 44分 | C |
| 95 | 科大智能 | 22.6% | 2.6% | 6.0% | 8.2% | 44分 | C |
| 96 | 宝胜股份 | 4.2% | -0.1% | 1.2% | 0.6% | 42分 | C |
| 97 | 崧盛股份 | 24.5% | -0.4% | 12.2% | 5.9% | 42分 | C |
| 98 | 太阳电缆 | 4.0% | 0.7% | 0.3% | 1.1% | 41分 | C |
| 99 | 望变电气 | 11.4% | 1.8% | 1.2% | 2.9% | 40分 | C |
| 100 | 森源电气 | 28.8% | 3.0% | 4.1% | 4.2% | 40分 | C |
| 101 | 温州宏丰 | 11.7% | 0.7% | 2.3% | 0.5% | 39分 | D+ |
| 102 | 金龙羽 | 10.5% | 2.3% | 1.6% | 2.5% | 38分 | D+ |
| 103 | 科润智控 | 12.3% | 1.1% | 2.8% | 3.0% | 37分 | D+ |
| 104 | 球冠电缆 | 10.3% | 2.5% | 3.4% | 2.6% | 37分 | D+ |
| 105 | 新亚电缆 | 9.5% | 3.4% | 0.4% | 2.5% | 36分 | D+ |
| 106 | 皓宸医疗 | 44.6% | -17.0% | 1.7% | 25.1% | 35分 | D+ |
| 107 | 风范股份 | 10.0% | -13.0% | 3.0% | 1.5% | 34分 | D |
| 108 | 摩恩电气 | 9.1% | 0.7% | 3.0% | 1.3% | 34分 | D |
| 109 | 通光线缆 | 15.1% | 1.3% | 4.3% | 3.5% | 34分 | D |
| 110 | 太湖远大 | 6.8% | 1.6% | 1.7% | 1.5% | 33分 | D |
| 111 | 九洲集团 | 27.4% | 2.8% | 1.7% | 6.0% | 33分 | D |
| 112 | 晨光电缆 | 10.9% | 0.7% | 3.5% | 4.4% | 32分 | D |
| 113 | 威腾电气 | 11.1% | 0.8% | 2.5% | 3.3% | 32分 | D |
| 114 | *ST威尔 | 26.0% | 24.8% | 5.9% | 2.6% | 32分 | D |
| 115 | 起帆电缆 | 5.5% | 0.8% | 0.4% | 1.5% | 31分 | D |
| 116 | 金利华电 | 31.3% | -2.4% | 3.6% | 7.8% | 30分 | D |
| 117 | 扬电科技 | 10.5% | 3.1% | 2.3% | 3.1% | 30分 | D |
| 118 | 久盛电气 | 12.5% | 1.6% | 3.6% | 2.5% | 30分 | D |
| 119 | 三晖电气 | 17.1% | -11.6% | 7.6% | 12.8% | 29分 | D |
| 120 | 红相股份 | 37.2% | -2.6% | 6.2% | 10.7% | 29分 | D |
| 121 | 广电电气 | 26.1% | -4.5% | 6.8% | 6.5% | 28分 | D |
| 122 | 光格科技 | 52.8% | -31.0% | 30.2% | 30.4% | 28分 | D |
| 123 | 泰豪科技 | 17.9% | 1.3% | 4.8% | 2.7% | 27分 | D |
| 124 | 汇金通 | 13.3% | 2.5% | 4.1% | 1.8% | 27分 | D |
| 125 | 泰永长征 | 28.0% | -0.6% | 6.9% | 12.0% | 27分 | D |
| 126 | 欣灵电气 | 22.6% | 4.4% | 5.5% | 5.1% | 27分 | D |
| 127 | 新特电气 | 22.6% | 10.2% | 9.0% | 4.5% | 26分 | D |
| 128 | 美硕科技 | 16.3% | 3.2% | 5.3% | 5.6% | 26分 | D |
| 129 | ST长园 | 30.4% | -14.4% | 11.5% | 9.0% | 25分 | D |
| 130 | 三变科技 | 15.6% | 0.7% | 3.6% | 7.2% | 24分 | D |
| 131 | 杭电股份 | 10.7% | -3.2% | 3.4% | 3.2% | 22分 | D |
| 132 | 中超控股 | 10.7% | -0.4% | 3.5% | 2.7% | 22分 | D |
| 133 | 中能电气 | 18.7% | -8.1% | 3.7% | 8.1% | 22分 | D |
| 134 | 和顺电气 | 15.5% | -12.8% | 8.0% | 7.6% | 22分 | D |
| 135 | 华自科技 | 14.9% | -10.8% | 6.6% | 6.8% | 21分 | D |
| 136 | 长城电工 | 7.8% | -22.6% | 5.3% | 7.6% | 20分 | D |
| 137 | 远程股份 | 8.5% | 0.0% | 2.0% | 2.8% | 20分 | D |
| 138 | ST合纵 | -2.0% | -53.8% | 4.6% | 5.9% | 20分 | D |
| 139 | 大烨智能 | -8.5% | -87.4% | 6.2% | 5.4% | 20分 | D |
| 140 | 尚纬股份 | 15.0% | -3.4% | 4.1% | 6.5% | 19分 | D |
| 141 | 昇辉科技 | 18.4% | -22.0% | 2.4% | 6.8% | 18分 | D |
| 142 | 金冠股份 | 13.7% | -30.4% | 5.9% | 13.7% | 18分 | D |
电池（91家）
赛道画像：动力电池、储能电池、电池材料、燃料电池。评分中位46分，毛利率中位17.3%，净利率中位2.8%，22家亏损。
| # | 公司 | 毛利率 | 净利率 | 研发费率 | 销售费率 | 评分 | 等级 |
|---|
| 1 | 宁德时代 | 26.3% | 17.0% | 5.2% | 0.9% | 93分 | A |
| 2 | 科达利 | 23.7% | 11.6% | 5.8% | 0.4% | 80分 | A- |
| 3 | 德瑞锂电 | 43.0% | 27.8% | 3.5% | 2.2% | 77分 | A- |
| 4 | 新宙邦 | 24.3% | 11.4% | 5.2% | 1.5% | 71分 | B+ |
| 5 | 天奈科技 | 36.8% | 17.6% | 8.4% | 1.2% | 70分 | B+ |
| 6 | 力佳科技 | 29.1% | 12.0% | 5.9% | 5.0% | 67分 | B+ |
| 7 | 美德乐 | 36.1% | 19.8% | 5.3% | 2.2% | 66分 | B+ |
| 8 | 蔚蓝锂芯 | 19.9% | 8.8% | 5.8% | 0.9% | 66分 | B+ |
| 9 | 亿纬锂能 | 16.2% | 6.7% | 4.9% | 1.5% | 66分 | B+ |
| 10 | 璞泰来 | 31.7% | 15.0% | 5.7% | 1.0% | 65分 | B+ |
| 11 | 武汉蓝电 | 58.8% | 37.4% | 10.9% | 8.9% | 64分 | B |
| 12 | 天赐材料 | 22.2% | 8.2% | 5.1% | 0.4% | 63分 | B |
| 13 | 豪鹏科技 | 19.8% | 3.5% | 5.5% | 2.4% | 63分 | B |
| 14 | 长虹能源 | 16.5% | 5.6% | 3.6% | 2.0% | 62分 | B |
| 15 | 天能股份 | 14.4% | 3.5% | 4.0% | 1.2% | 62分 | B |
| 16 | 博力威 | 18.1% | 2.0% | 5.3% | 3.0% | 62分 | B |
| 17 | 国轩高科 | 16.2% | 5.3% | 5.4% | 0.8% | 60分 | B |
| 18 | 格林美 | 14.7% | 4.3% | 3.2% | 0.3% | 60分 | B |
| 19 | 先惠技术 | 28.4% | 11.5% | 4.4% | 0.3% | 58分 | B |
| 20 | 尚太科技 | 21.2% | 11.9% | 3.2% | 0.1% | 58分 | B |
| 21 | 赢合科技 | 24.4% | 5.7% | 6.5% | 3.5% | 58分 | B |
| 22 | 厦钨新能 | 10.0% | 3.8% | 2.7% | 0.2% | 57分 | B |
| 23 | 浙江恒威 | 21.7% | 13.8% | 3.2% | 1.2% | 57分 | B |
| 24 | 雄韬股份 | 17.6% | 2.3% | 3.3% | 2.7% | 57分 | B |
| 25 | 骄成超声 | 63.4% | 15.2% | 20.7% | 14.0% | 56分 | B |
| 26 | 珠海冠宇 | 24.2% | 3.3% | 12.9% | 0.6% | 54分 | B- |
| 27 | 圣阳股份 | 19.1% | 5.4% | 3.3% | 2.8% | 54分 | B- |
| 28 | 当升科技 | 12.7% | 6.1% | 4.7% | 0.4% | 54分 | B- |
| 29 | 力王股份 | 13.0% | 3.5% | 4.0% | 1.6% | 53分 | B- |
| 30 | 科力远 | 13.6% | 2.4% | 1.0% | 0.7% | 53分 | B- |
| 31 | 道氏技术 | 22.6% | 6.2% | 2.7% | 0.9% | 53分 | B- |
| 32 | 先导智能 | 33.3% | 10.8% | 11.1% | 2.4% | 53分 | B- |
| 33 | 中伟新材 | 12.3% | 3.3% | 2.4% | 0.2% | 53分 | B- |
| 34 | 融捷股份 | 51.2% | 33.2% | 1.6% | 0.6% | 52分 | B- |
| 35 | 贝特瑞 | 20.7% | 5.2% | 5.0% | 0.5% | 52分 | B- |
| 36 | 骆驼股份 | 15.0% | 5.1% | 1.8% | 4.4% | 52分 | B- |
| 37 | 中瑞股份 | 24.6% | 7.4% | 8.6% | 1.3% | 52分 | B- |
| 38 | 杭可科技 | 28.4% | 12.3% | 9.1% | 3.2% | 51分 | B- |
| 39 | 德赛电池 | 9.0% | 1.3% | 4.6% | 0.7% | 51分 | B- |
| 40 | 欣旺达 | 13.9% | 1.7% | 6.9% | 1.0% | 51分 | B- |
| 41 | 恩捷股份 | 18.8% | 1.0% | 5.1% | 1.1% | 49分 | C+ |
| 42 | 派能科技 | 17.6% | 2.7% | 10.1% | 5.1% | 48分 | C+ |
| 43 | 天际股份 | 18.1% | 2.8% | 5.3% | 1.0% | 48分 | C+ |
| 44 | 利元亨 | 27.2% | 1.7% | 11.3% | 3.6% | 48分 | C+ |
| 45 | 鹏辉能源 | 14.6% | 1.7% | 4.4% | 2.6% | 46分 | C+ |
| 46 | 星源材质 | 23.0% | 0.9% | 6.8% | 1.0% | 46分 | C+ |
| 47 | 金银河 | 22.1% | 1.0% | 6.0% | 1.7% | 46分 | C+ |
| 48 | 野马电池 | 14.2% | 4.7% | 3.1% | 1.9% | 45分 | C+ |
| 49 | 湖南裕能 | 9.2% | 3.7% | 1.1% | 0.1% | 45分 | C+ |
| 50 | 金杨精密 | 12.3% | 2.9% | 3.5% | 0.4% | 44分 | C |
| 51 | 华宝新能 | 37.6% | 0.4% | 4.3% | 28.5% | 44分 | C |
| 52 | 瑞泰新材 | 17.9% | 10.8% | 3.3% | 1.4% | 43分 | C |
| 53 | 紫建电子 | 20.9% | 0.5% | 12.0% | 3.2% | 42分 | C |
| 54 | 中国宝安 | 25.8% | 0.9% | 4.6% | 5.2% | 40分 | C |
| 55 | 中科电气 | 16.9% | 5.6% | 3.0% | 1.3% | 40分 | C |
| 56 | 纳科诺尔 | 19.3% | 6.7% | 2.0% | 2.2% | 39分 | D+ |
| 57 | 远航精密 | 13.6% | 5.1% | 3.5% | 1.1% | 39分 | D+ |
| 58 | 维科技术 | 14.5% | -6.8% | 8.3% | 2.9% | 39分 | D+ |
| 59 | 宏工科技 | 21.4% | 2.9% | 5.0% | 3.7% | 38分 | D+ |
| 60 | 中一科技 | 6.0% | 1.1% | 3.5% | 0.3% | 38分 | D+ |
| 61 | 容百科技 | 7.4% | -1.5% | 3.4% | 0.3% | 36分 | D+ |
| 62 | 壹石通 | 20.0% | -3.5% | 10.7% | 2.1% | 36分 | D+ |
| 63 | 五矿新能 | 7.9% | 2.4% | 2.9% | 0.2% | 36分 | D+ |
| 64 | 翔丰华 | 16.2% | 3.2% | 3.4% | 1.7% | 36分 | D+ |
| 65 | 杉杉股份 | 17.3% | 2.1% | 5.6% | 1.3% | 36分 | D+ |
| 66 | 盟固利 | 8.0% | 1.2% | 4.5% | 0.6% | 35分 | D+ |
| 67 | 誉辰智能 | 19.3% | -20.9% | 11.2% | 5.3% | 35分 | D+ |
| 68 | 芳源股份 | 6.2% | -4.5% | 2.6% | 0.2% | 35分 | D+ |
| 69 | 星云股份 | 33.2% | -23.0% | 16.4% | 13.9% | 32分 | D |
| 70 | 铜冠铜箔 | 3.6% | 0.9% | 1.4% | 0.1% | 32分 | D |
| 71 | 德福科技 | 7.1% | 0.9% | 1.6% | 0.4% | 32分 | D |
| 72 | 曼恩斯特 | 25.5% | -10.3% | 16.2% | 9.7% | 30分 | D |
| 73 | 天宏锂电 | 10.9% | 2.3% | 3.6% | 2.4% | 30分 | D |
| 74 | 万润新能 | 4.8% | -4.0% | 2.2% | 0.3% | 30分 | D |
| 75 | 石大胜华 | 7.0% | 0.2% | 4.0% | 1.3% | 30分 | D |
| 76 | 海科新源 | 3.2% | -3.6% | 3.8% | 0.5% | 30分 | D |
| 77 | 德方纳米 | 1.3% | -9.4% | 2.0% | 0.3% | 28分 | D |
| 78 | 时代万恒 | 22.4% | -34.4% | 4.0% | 3.6% | 27分 | D |
| 79 | 孚能科技 | 9.2% | -8.2% | 6.9% | 1.5% | 26分 | D |
| 80 | 信德新材 | 11.3% | 3.3% | 2.6% | 1.1% | 25分 | D |
| 81 | 安达科技 | 1.8% | -7.4% | 2.1% | 0.2% | 24分 | D |
| 82 | 天力锂能 | 4.5% | -9.1% | 3.2% | 0.4% | 21分 | D |
| 83 | 振华新材 | -12.9% | -30.3% | 6.6% | 0.5% | 20分 | D |
| 84 | 亿华通 | 29.2% | -259.6% | 18.5% | 22.9% | 20分 | D |
| 85 | 万里股份 | 5.2% | -10.5% | 0.8% | 2.5% | 20分 | D |
| 86 | 华盛锂电 | 10.1% | 1.5% | 6.0% | 1.0% | 19分 | D |
| 87 | 昆工科技 | 0.6% | -33.7% | 2.3% | 1.4% | 19分 | D |
| 88 | 南都电源 | 5.9% | -35.4% | 6.7% | 4.0% | 19分 | D |
| 89 | 科恒股份 | 6.8% | -10.6% | 4.3% | 1.2% | 19分 | D |
| 90 | ST帕瓦 | -10.3% | -101.2% | 4.2% | 0.2% | 18分 | D |
| 91 | 信宇人 | -8.2% | -180.2% | 23.8% | 5.3% | 18分 | D |
光伏设备（63家）
赛道画像：硅料/硅片/电池片/组件、逆变器、辅材。评分中位41分，毛利率中位11.1%，净利率中位-1.1%，33家亏损。
| # | 公司 | 毛利率 | 净利率 | 研发费率 | 销售费率 | 评分 | 等级 |
|---|
| 1 | 德业股份 | 38.1% | 25.9% | 4.6% | 2.8% | 92分 | A |
| 2 | 阳光电源 | 31.8% | 15.1% | 4.7% | 5.4% | 80分 | A- |
| 3 | 上能电气 | 23.6% | 8.2% | 5.8% | 4.4% | 71分 | B+ |
| 4 | 艾能聚 | 53.2% | 24.8% | 1.2% | 0.4% | 70分 | B+ |
| 5 | 捷佳伟创 | 28.3% | 16.9% | 3.9% | 0.9% | 69分 | B+ |
| 6 | 锦浪科技 | 34.5% | 10.7% | 7.3% | 7.8% | 68分 | B+ |
| 7 | 帝尔激光 | 46.6% | 25.5% | 11.3% | 0.7% | 67分 | B+ |
| 8 | 联泓新科 | 18.7% | 4.8% | 4.7% | 0.5% | 65分 | B+ |
| 9 | 福莱特 | 16.9% | 6.3% | 2.8% | 0.4% | 65分 | B+ |
| 10 | 艾罗能源 | 32.0% | 3.0% | 14.9% | 14.0% | 65分 | B+ |
| 11 | 酉立智能 | 15.2% | 8.9% | 1.2% | 0.4% | 64分 | B |
| 12 | 固德威 | 21.5% | 1.5% | 6.9% | 7.8% | 62分 | B |
| 13 | 首航新能 | 29.0% | 6.1% | 8.9% | 8.9% | 61分 | B |
| 14 | 奥特维 | 32.0% | 6.9% | 7.6% | 2.7% | 60分 | B |
| 15 | 拉普拉斯 | 29.4% | 11.4% | 7.1% | 1.2% | 59分 | B |
| 16 | 晶盛机电 | 28.9% | 7.8% | 8.4% | 0.7% | 59分 | B |
| 17 | 迈为股份 | 38.6% | 8.9% | 13.3% | 4.3% | 58分 | B |
| 18 | 福斯特 | 11.0% | 5.0% | 3.0% | 0.6% | 56分 | B |
| 19 | 中信博 | 17.1% | -0.1% | 2.3% | 3.5% | 56分 | B |
| 20 | 阿特斯 | 10.4% | 2.5% | 1.6% | 2.6% | 54分 | B- |
| 21 | 微导纳米 | 32.7% | 8.3% | 10.1% | 2.9% | 54分 | B- |
| 22 | 弘元绿能 | 11.1% | 2.5% | 5.1% | 1.1% | 51分 | B- |
| 23 | 泽润新能 | 15.9% | 4.0% | 3.6% | 1.4% | 50分 | B- |
| 24 | 金辰股份 | 24.7% | 2.0% | 6.9% | 3.2% | 50分 | B- |
| 25 | 清源股份 | 17.7% | 2.8% | 2.9% | 7.0% | 48分 | C+ |
| 26 | 帝科股份 | 9.1% | -1.5% | 3.3% | 1.1% | 46分 | C+ |
| 27 | 通灵股份 | 14.2% | 1.9% | 5.4% | 0.5% | 46分 | C+ |
| 28 | 连城数控 | 29.9% | 3.9% | 7.1% | 4.7% | 46分 | C+ |
| 29 | 禾迈股份 | 25.2% | -8.3% | 18.1% | 15.4% | 44分 | C |
| 30 | 快可电子 | 8.9% | 1.9% | 4.0% | 0.7% | 41分 | C |
| 31 | 向日葵 | 20.9% | -1.6% | 4.0% | 6.5% | 41分 | C |
| 32 | 大全能源 | -2.1% | -23.3% | 0.4% | 0.5% | 41分 | C |
| 33 | 聚和材料 | 7.3% | 2.9% | 1.7% | 0.3% | 40分 | C |
| 34 | 昱能科技 | 23.0% | -11.3% | 10.0% | 11.5% | 40分 | C |
| 35 | 亚玛顿 | 6.7% | -5.3% | 3.2% | 0.3% | 38分 | D+ |
| 36 | 同享科技 | 5.5% | 0.7% | 2.5% | 0.0% | 38分 | D+ |
| 37 | 永臻股份 | 2.0% | -2.1% | 0.9% | 0.3% | 38分 | D+ |
| 38 | 航天机电 | 9.4% | -12.3% | 3.9% | 2.0% | 38分 | D+ |
| 39 | 晶澳科技 | -2.1% | -9.4% | 1.6% | 2.1% | 38分 | D+ |
| 40 | 协鑫集成 | 2.3% | -7.6% | 1.0% | 3.4% | 38分 | D+ |
| 41 | 宇邦新材 | 5.7% | 1.0% | 2.0% | 0.3% | 37分 | D+ |
| 42 | 高测股份 | 14.4% | -1.1% | 5.2% | 2.0% | 37分 | D+ |
| 43 | 欧普泰 | 36.9% | -24.9% | 24.9% | 13.5% | 37分 | D+ |
| 44 | TCL中环 | -6.4% | -31.9% | 2.8% | 1.9% | 35分 | D+ |
| 45 | 赛伍技术 | 1.5% | -10.2% | 4.0% | 1.7% | 35分 | D+ |
| 46 | 晶科能源 | -0.6% | -10.5% | 1.3% | 3.0% | 33分 | D |
| 47 | 通威股份 | 2.7% | -11.4% | 1.3% | 1.8% | 33分 | D |
| 48 | 东方日升 | 0.4% | -22.5% | 2.3% | 2.4% | 33分 | D |
| 49 | 欧晶科技 | 4.2% | -57.8% | 5.3% | 0.7% | 33分 | D |
| 50 | 隆基绿能 | 0.8% | -9.1% | 2.2% | 2.9% | 33分 | D |
| 51 | *ST天龙 | 12.0% | -5.9% | 0.0% | 0.0% | 32分 | D |
| 52 | 天合光能 | 5.2% | -10.5% | 2.8% | 3.2% | 31分 | D |
| 53 | 爱旭股份 | 2.6% | -11.7% | 2.2% | 3.1% | 31分 | D |
| 54 | 拓日新能 | 8.4% | -19.4% | 4.2% | 1.3% | 30分 | D |
| 55 | 明冠新材 | -4.1% | -19.7% | 4.7% | 2.1% | 29分 | D |
| 56 | 中来股份 | -14.3% | -30.8% | 4.3% | 3.2% | 27分 | D |
| 57 | 中利集团 | 11.2% | -2.4% | 1.2% | 4.7% | 27分 | D |
| 58 | 时创能源 | -2.7% | -32.5% | 22.5% | 1.5% | 23分 | D |
| 59 | 海优新材 | -1.0% | -42.5% | 6.0% | 1.1% | 21分 | D |
| 60 | 安彩高科 | -4.6% | -24.9% | 3.2% | 0.9% | 20分 | D |
| 61 | 金博股份 | -2.1% | -159.6% | 17.2% | 3.4% | 20分 | D |
| 62 | 海泰新能 | -5.0% | -40.9% | 1.5% | 6.9% | 20分 | D |
| 63 | 亿晶光电 | 1.5% | -27.4% | 1.1% | 3.8% | 15分 | D |
其他电源设备Ⅱ（31家）
赛道画像：电源、UPS、充电桩、储能系统集成。评分中位54分，毛利率中位22.3%，净利率中位4.2%，9家亏损。
| # | 公司 | 毛利率 | 净利率 | 研发费率 | 销售费率 | 评分 | 等级 |
|---|
| 1 | 盛弘股份 | 38.5% | 13.7% | 8.3% | 11.4% | 79分 | A- |
| 2 | 科士达 | 29.0% | 11.6% | 5.6% | 6.8% | 76分 | A- |
| 3 | 科华数据 | 24.6% | 5.1% | 5.9% | 8.0% | 69分 | B+ |
| 4 | 欧陆通 | 19.8% | 5.5% | 6.7% | 2.3% | 69分 | B+ |
| 5 | 海博思创 | 18.2% | 8.2% | 2.6% | 3.2% | 68分 | B+ |
| 6 | 西子洁能 | 19.0% | 7.0% | 5.8% | 1.7% | 64分 | B |
| 7 | 华光环能 | 17.8% | 4.2% | 1.9% | 1.1% | 63分 | B |
| 8 | 雷特科技 | 48.8% | 22.5% | 10.4% | 7.2% | 61分 | B |
| 9 | 海陆重工 | 30.0% | 18.0% | 3.9% | 1.9% | 60分 | B |
| 10 | 中恒电气 | 24.8% | 5.9% | 8.0% | 6.0% | 60分 | B |
| 11 | 英杰电气 | 34.9% | 14.8% | 9.5% | 5.0% | 58分 | B |
| 12 | 科威尔 | 42.3% | 12.5% | 15.0% | 11.3% | 58分 | B |
| 13 | 东方电气 | 17.0% | 4.9% | 4.2% | 1.1% | 57分 | B |
| 14 | 通合科技 | 24.4% | 2.6% | 8.9% | 5.6% | 56分 | B |
| 15 | 上海电气 | 18.0% | 1.0% | 4.9% | 2.6% | 54分 | B- |
| 16 | 科泰电源 | 14.0% | 2.9% | 3.1% | 2.5% | 54分 | B- |
| 17 | 麦格米特 | 22.3% | 1.6% | 11.9% | 4.4% | 52分 | B- |
| 18 | 华塑科技 | 36.6% | 11.1% | 11.2% | 10.6% | 50分 | B- |
| 19 | 优优绿能 | 23.9% | 8.1% | 9.3% | 4.3% | 46分 | C+ |
| 20 | 同洲电子 | 41.5% | 26.1% | 2.4% | 0.8% | 45分 | C+ |
| 21 | 龙源技术 | 21.9% | -3.7% | 6.3% | 4.6% | 43分 | C |
| 22 | 哈空调 | 13.4% | 0.5% | 2.7% | 1.5% | 38分 | D+ |
| 23 | ST华西 | 20.6% | -17.1% | 3.0% | 1.5% | 38分 | D+ |
| 24 | 中远通 | 16.1% | -6.1% | 12.8% | 2.2% | 37分 | D+ |
| 25 | 易事特 | 26.2% | 0.7% | 6.3% | 7.7% | 33分 | D |
| 26 | 爱科赛博 | 30.8% | -5.0% | 19.6% | 9.9% | 33分 | D |
| 27 | 英可瑞 | 17.8% | -23.5% | 16.3% | 7.7% | 30分 | D |
| 28 | 新雷能 | 38.4% | -16.4% | 33.9% | 4.7% | 28分 | D |
| 29 | 奥 特 迅 | 22.2% | -24.2% | 14.2% | 12.7% | 26分 | D |
| 30 | 融发核电 | 8.4% | -9.0% | 4.3% | 2.5% | 20分 | D |
| 31 | 动力源 | 13.7% | -73.8% | 12.8% | 18.9% | 20分 | D |
风电设备（28家）
赛道画像：风机整机、叶片、塔筒、齿轮箱等零部件。评分中位44分，毛利率中位15.5%，净利率中位4.3%，4家亏损。
| # | 公司 | 毛利率 | 净利率 | 研发费率 | 销售费率 | 评分 | 等级 |
|---|
| 1 | 大金重工 | 31.2% | 17.9% | 4.7% | 1.9% | 79分 | A- |
| 2 | 德力佳 | 25.4% | 15.3% | 2.8% | 0.2% | 78分 | A- |
| 3 | 禾望电气 | 38.0% | 12.7% | 8.8% | 9.2% | 76分 | A- |
| 4 | 双一科技 | 27.6% | 15.8% | 3.5% | 1.7% | 65分 | B+ |
| 5 | 新强联 | 28.0% | 17.7% | 3.4% | 0.3% | 65分 | B+ |
| 6 | 锡华科技 | 27.3% | 15.9% | 4.1% | 0.3% | 63分 | B |
| 7 | 日月股份 | 16.9% | 8.8% | 4.2% | 0.2% | 62分 | B |
| 8 | 吉鑫科技 | 19.3% | 9.6% | 2.8% | 0.4% | 59分 | B |
| 9 | 金雷股份 | 27.8% | 12.6% | 4.8% | 1.1% | 58分 | B |
| 10 | 金风科技 | 14.2% | 3.8% | 3.4% | 2.0% | 52分 | B- |
| 11 | 时代新材 | 14.6% | 2.4% | 5.2% | 1.8% | 50分 | B- |
| 12 | 常友科技 | 21.9% | 7.5% | 3.1% | 1.7% | 49分 | C+ |
| 13 | 盘古智能 | 36.8% | 13.0% | 6.3% | 9.7% | 48分 | C+ |
| 14 | 湘电股份 | 12.6% | 4.6% | 3.4% | 3.1% | 45分 | C+ |
| 15 | 振江股份 | 20.9% | 2.8% | 3.9% | 1.2% | 44分 | C |
| 16 | 明阳智能 | 10.3% | 1.7% | 2.0% | 2.1% | 42分 | C |
| 17 | 泰胜风能 | 12.1% | 4.1% | 1.5% | 0.5% | 40分 | C |
| 18 | 天顺风能 | 18.9% | -4.4% | 0.9% | 0.3% | 38分 | D+ |
| 19 | 海力风电 | 13.9% | 7.5% | 0.9% | 0.5% | 38分 | D+ |
| 20 | 运达股份 | 7.6% | 1.2% | 2.8% | 3.5% | 36分 | D+ |
| 21 | 宏德股份 | 15.5% | 4.8% | 5.1% | 0.5% | 34分 | D |
| 22 | 天能重工 | 14.1% | 2.8% | 0.4% | 0.9% | 29分 | D |
| 23 | 通裕重工 | 13.5% | 1.0% | 2.7% | 1.1% | 27分 | D |
| 24 | 三一重能 | 9.7% | 2.6% | 3.0% | 2.5% | 26分 | D |
| 25 | 飞沃科技 | 15.5% | 1.5% | 3.0% | 1.1% | 25分 | D |
| 26 | 威力传动 | 11.1% | -10.7% | 7.7% | 2.5% | 22分 | D |
| 27 | 中环海陆 | 2.4% | -11.1% | 3.3% | 1.6% | 22分 | D |
| 28 | 电气风电 | 4.8% | -7.2% | 4.4% | 2.4% | 21分 | D |
电机Ⅱ（25家）
赛道画像：微特电机、工业电机、驱动系统。评分中位56分，毛利率中位20.9%，净利率中位5.7%，1家亏损。
| # | 公司 | 毛利率 | 净利率 | 研发费率 | 销售费率 | 评分 | 等级 |
|---|
| 1 | 微光股份 | 30.3% | 24.7% | 4.4% | 1.5% | 85分 | A |
| 2 | 奕帆传动 | 43.3% | 27.6% | 6.2% | 2.0% | 75分 | A- |
| 3 | 凯中精密 | 20.9% | 8.0% | 2.8% | 2.1% | 72分 | B+ |
| 4 | 兆威机电 | 33.7% | 14.8% | 10.2% | 3.9% | 72分 | B+ |
| 5 | 三协电机 | 26.4% | 11.0% | 3.5% | 1.7% | 71分 | B+ |
| 6 | 卧龙电驱 | 25.4% | 7.3% | 4.3% | 4.6% | 71分 | B+ |
| 7 | 华新精科 | 19.4% | 10.5% | 3.2% | 0.7% | 65分 | B+ |
| 8 | 佳电股份 | 23.1% | 5.2% | 3.4% | 5.2% | 64分 | B |
| 9 | 大洋电机 | 22.3% | 8.9% | 5.7% | 2.2% | 64分 | B |
| 10 | 八方股份 | 24.9% | 7.7% | 4.3% | 3.5% | 61分 | B |
| 11 | 江苏雷利 | 25.2% | 7.2% | 4.7% | 2.9% | 60分 | B |
| 12 | 科力尔 | 17.9% | 1.8% | 5.3% | 2.9% | 57分 | B |
| 13 | 鸣志电器 | 36.4% | 2.2% | 9.7% | 9.3% | 56分 | B |
| 14 | 星德胜 | 16.1% | 6.7% | 4.1% | 1.0% | 52分 | B- |
| 15 | 迪贝电气 | 15.6% | 8.2% | 4.8% | 0.2% | 50分 | B- |
| 16 | 安乃达 | 15.5% | 5.7% | 3.8% | 2.0% | 50分 | B- |
| 17 | 康平科技 | 17.2% | 4.6% | 3.8% | 2.0% | 48分 | C+ |
| 18 | 方正电机 | 13.0% | 0.7% | 6.2% | 1.0% | 47分 | C+ |
| 19 | 中电电机 | 23.4% | 4.7% | 3.5% | 5.2% | 44分 | C |
| 20 | 通达动力 | 13.8% | 4.7% | 3.1% | 1.1% | 43分 | C |
| 21 | 祥明智能 | 21.2% | 3.3% | 6.9% | 2.5% | 40分 | C |
| 22 | 华瑞股份 | 16.7% | 1.2% | 3.9% | 1.9% | 31分 | D |
| 23 | 华阳智能 | 18.8% | 5.3% | 4.1% | 1.2% | 30分 | D |
| 24 | 神力股份 | 7.4% | 1.3% | 0.9% | 0.4% | 20分 | D |
| 25 | 江特电机 | 2.0% | -18.9% | 3.7% | 2.1% | 18分 | D |
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