Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage in the sector [5][8]. Core Viewpoints - The company is recognized as a leading manufacturer of lithium battery roller press equipment in China, with a focus on dry electrode and solid-state battery technologies to drive innovation [5][7]. - The lithium battery roller press equipment market is expected to grow significantly, reaching 6 billion RMB by 2025, with the company holding the largest market share [7][10]. - The transition from wet to dry electrode manufacturing processes is anticipated to reduce overall lithium battery production costs by 10%-15%, positioning the company favorably in the market [10][11]. - The solid-state battery market is projected to expand, with potential market size reaching 20 billion RMB by 2030, creating new opportunities for the company's equipment [11][11]. Summary by Sections 1. Leading Position in Lithium Battery Roller Press Equipment - The company has achieved a compound annual growth rate (CAGR) of 113.18% in revenue from 2020 to 2023, establishing itself as the top player in the domestic market [10][19]. - In 2023, the Chinese lithium battery roller press equipment industry reached a scale of 4.47 billion RMB, reflecting a year-on-year growth of 39.6% [34]. 2. Transition from Wet to Dry Electrode Technology - The dry electrode manufacturing process is expected to become mainstream due to its efficiency and cost-saving benefits [10][11]. - The company has established a joint venture with Qingyan Electronics to enhance its technological advantages in dry electrode manufacturing [10][11]. 3. Promising Outlook for Solid-State Battery Market - Solid-state batteries are considered safer and more stable than traditional batteries, with a projected market size of 20 billion RMB by 2030 [11][11]. - The company is actively collaborating with the Sichuan New Energy Vehicle Innovation Center to develop key equipment and processes for solid-state battery production [11][11]. 4. Profit Forecast and Valuation - The company is expected to achieve net profits of 164 million RMB, 194 million RMB, and 256 million RMB for the years 2024, 2025, and 2026, respectively, with corresponding price-to-earnings (P/E) ratios of 44.2, 37.2, and 28.3 [6][8].

证券代码：832522 证券简称：纳科诺尔 公告编号：2025-013 邢台纳科诺尔精轧科技股份有限公司 持股 5%以上股东权益变动达到 1%的提示性公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 邢台纳科诺尔精轧科技股份有限公司（以下简称"公司"）于2025年3月3日 收到持股5%以上股东京津冀产业协同发展投资基金（有限合伙）出具的《股份减 持进展告知函》，上述股东于2025年2月20日至2025年3月3日通过集中竞价累计减 持公司股份636,515股，持有公司股份比例从8.5681%减少至8.0000%，权益变动 触及1%的情形。现将其有关权益变动情况公告如下： 一、本次权益变动的基本情况 （一）信息披露义务人基本情况 1、基本情况 信息披露义务人 京津冀产业协同发展投资基金（有限合伙） 持股变动时间 2025年2月20日至2025年3月3日 股票简称 纳科诺尔 证券代码 832522 变动类型 增加□ 减少√ 是否为公司第一大股东、 实际控制人或股东、实际 控制人或其一致行动人 是□ 否√ ...

Investment Rating - The report maintains a rating of "Increase" for the company, indicating an expected relative performance increase of 5% to 15% over the next 6 to 12 months compared to the benchmark index [4][8]. Core Insights - The company has demonstrated stable growth in performance, with a projected revenue of 1.054 billion yuan for 2024, reflecting an 11.42% year-on-year increase. The net profit attributable to shareholders is expected to reach 164 million yuan, a 32.09% increase year-on-year [6]. - The company has signed a significant order worth 235 million yuan for roller cutting integrated machines, indicating continued growth potential in its main business. The lithium battery roller press equipment market in China is projected to grow to 6 billion yuan by 2025, with a CAGR of 39.05% from 2019 to 2025 [6]. - The company is actively expanding into advanced technologies such as dry process electrodes and solid-state batteries, which are expected to open up long-term growth opportunities. The solid-state battery market is anticipated to reach approximately 20 billion yuan by 2030 [6]. Financial Performance Summary - The company reported a revenue of 946 million yuan in 2023, with a projected increase to 1,054 million yuan in 2024, representing a growth rate of 11% year-on-year. The net profit for 2023 was 124 million yuan, expected to rise to 163 million yuan in 2024, marking a 32% increase [4][6]. - The earnings per share (EPS) for 2024 is projected to be 1.75 yuan, with a net asset return rate of 16% [4][6]. - The company’s financial ratios indicate a stable growth trajectory, with a projected P/E ratio of 42.5 for 2024, decreasing to 31.4 by 2026 [4][6].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][2] Core Insights - The company, Naconoer, is expected to achieve a net profit attributable to shareholders of 164 million yuan in 2024, representing a year-on-year growth of 32.09%. The revenue for the same period is projected to be 1.054 billion yuan, an increase of 11.42% year-on-year [2][33] - Naconoer has secured a significant order worth 235 million yuan from a leading domestic client, focusing on the development of solid-state battery production equipment [3][33] - The company is actively adjusting its fundraising projects to concentrate on research and development of solid-state batteries, enhancing its capabilities in this emerging field [34][36] Summary by Sections Financial Performance - In 2024, Naconoer is projected to achieve a revenue of 1.054 billion yuan, with a year-on-year growth of 11.42%. The total profit is expected to be 190 million yuan, reflecting a growth of 34.70%, and the net profit attributable to shareholders is forecasted at 164 million yuan, up 32.09% [2][33] - The earnings per share (EPS) for 2024-2026 are estimated to be 1.47, 1.98, and 2.28 yuan respectively, with corresponding price-to-earnings (P/E) ratios of 48.9, 36.1, and 31.4 [2][33] Business Developments - Naconoer has entered into a procurement contract worth 235 million yuan for a roller press cutting integrated machine, indicating strong demand for its products [3][33] - The company has adjusted its fundraising project to increase investment in the "Research and Development Center and Headquarters Construction Project" from 89.35 million yuan to 134 million yuan, which will include new experimental workshops [34][36] Industry Positioning - Naconoer is recognized as one of the early participants in the research and development of solid-state battery production equipment, collaborating with various manufacturers and research institutions [20][31] - The company has launched a series of dry electrode equipment and is currently conducting cell-level testing, positioning itself well within the growing solid-state battery market [4][17]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][2]. Core Views - The company is expected to achieve a net profit of 164 million yuan in 2024, representing a year-on-year growth of 32.09%. The revenue is projected to be 1.054 billion yuan, with an 11.42% increase compared to the previous year [2][33]. - The company has secured a significant order worth 235 million yuan from a leading customer, focusing on the development of solid-state battery production equipment [3][33]. - The company is actively adjusting its fundraising projects to concentrate on research and development of solid-state batteries, enhancing its capabilities in this emerging field [4][34]. Summary by Sections Financial Performance - In 2024, the company anticipates total revenue of 1.054 billion yuan, a growth of 11.42% year-on-year, and a total profit of 190 million yuan, reflecting a 34.70% increase. The net profit is expected to reach 164 million yuan, marking a 32.09% rise [2][33]. - The earnings per share (EPS) for 2024-2026 are projected to be 1.47, 1.98, and 2.28 yuan, respectively, with corresponding price-to-earnings (P/E) ratios of 48.9, 36.1, and 31.4 [2][33]. Business Developments - The company has signed a procurement contract worth 235 million yuan for a roller press cutting integrated machine with a major customer [3][33]. - The company has increased its investment in the "Research and Development Center and Headquarters Construction Project" from 89.35 million yuan to 134 million yuan, adding new experimental workshops and facilities [4][34]. Industry Position - The company is recognized as a pioneer in the research and development of solid-state battery production equipment, having established significant partnerships and collaborations in this area [4][31]. - The company has launched a series of dry electrode equipment products, which are currently undergoing cell-level testing, indicating its commitment to innovation in battery technology [4][17].

证券代码：832522 证券简称：纳科诺尔 公告编号：2025-011 邢台纳科诺尔精轧科技股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、 授权现金管理情况 为提高闲置募集资金使用效率，公司第三届董事会第三十五次会议、第三届 监事会第二十五次会议、2024 年第三次临时股东大会，审议通过了《关于使用 部分闲置募集资金进行现金管理的议案》，在确保资金安全、不影响募集资金投 资项目建设的前提下，公司拟使用额度不超过人民币 20,000 万元的闲置募集资 金进行现金管理。在上述额度内，资金可循环滚动使用，拟投资的期限最长不超 过 12 个月。使用闲置募集资金进行现金管理的品种应满足安全性高、流动性好、 可以保障投资本金安全等要求，包括但不限于保本型银行理财产品、定期存款、 结构性存款、协定存款、可转让大额存单等，且购买的产品不得抵押，不用作其 他用途，不影响募集资金投资计划正常进行。 具体内容详见公司在北京证券交易所信息披露平台（http:/ ...

Financial Performance - The company achieved operating revenue of ¥1,053,505,564.23, representing a year-on-year increase of 11.42%[4] - Net profit attributable to shareholders reached ¥163,558,968.83, up 32.09% compared to the previous year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥154,908,025.95, reflecting a growth of 36.07%[6] - Basic earnings per share decreased by 2.60% to ¥1.50[6] Assets and Equity - Total assets at the end of the reporting period were ¥2,062,903,764.55, a decrease of 19.00% from the beginning of the period[5] - Shareholders' equity attributable to the company increased by 17.19% to ¥1,046,698,797.56[5] - The company's share capital grew by 20.00% to ¥112,044,000.00[5] Operational Improvements - The company enhanced customer service levels, leading to an increase in equipment acceptance during the reporting period[7] - Internal management was strengthened, optimizing personnel structure and controlling expenses, which improved overall profitability[7] Cautionary Notes - The financial data presented is preliminary and has not been audited, cautioning investors about potential risks[8]

为提高闲置募集资金使用效率，公司第三届董事会第三十五次会议、第三届 监事会第二十五次会议、2024 年第三次临时股东大会，审议通过了《关于使用 部分闲置募集资金进行现金管理的议案》，在确保资金安全、不影响募集资金投 资项目建设的前提下，公司拟使用额度不超过人民币 20,000 万元的闲置募集资 金进行现金管理。在上述额度内，资金可循环滚动使用，拟投资的期限最长不超 过 12 个月。使用闲置募集资金进行现金管理的品种应满足安全性高、流动性好、 可以保障投资本金安全等要求，包括但不限于保本型银行理财产品、定期存款、 结构性存款、协定存款、可转让大额存单等，且购买的产品不得抵押，不用作其 他用途，不影响募集资金投资计划正常进行。 具体内容详见公司在北京证券交易所信息披露平台（http://www.bse.cn/） 披露的《关于使用部分闲置募集资金进行现金管理的公告》（公告编号： 2024-031）。 二、 本次现金管理情况 | 受托方 | | 产品 | 产品名称 | 产品金 额（万 | 预计年化收 | 产品 | 收益 | 投资 | | 资金 | | --- | --- | --- | --- | --- | --- ...

（一） 基本情况 邢台纳科诺尔精轧科技股份有限公司（以下简称"公司"）近日与国内某头 部客户签订了《采购合同》，合同总金额为人民币 2.35 亿元。 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、 合同签署概况 （二） 审批情况 根据《公司章程》及相关制度，上述合同的签订属于公司日常经营行为，不 需要经过公司董事会及股东大会审议。 证券代码：832522 证券简称：纳科诺尔 公告编号：2025-009 邢台纳科诺尔精轧科技股份有限公司签订重要合同的公告 四、 合同履行对上市公司的影响 上述合同的签订对公司未来经营业绩、市场拓展及品牌效应产生积极影响。 该合同的履行符合公司战略发展方向，将增强公司的核心竞争力。该合同的签订 不构成关联交易，对公司的业务独立性不构成影响。 五、 风险提示 公司将积极组织、协调及有效管理好相关资源，保证合同的实施执行。但合 同履行过程中可能遇到不可抗力等因素，导致合同延缓履行、部分履行、调整或 终止。敬请广大投资者注意投资风险。 二、 合同对手方情况 该客户为国内某头部 ...

证券代码：832522 证券简称：纳科诺尔 公告编号：2025-008 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、基本情况 邢台纳科诺尔精轧科技股份有限公司（以下简称"公司"）分别于2024年12 月30日和2025年1月16日召开第四届董事会第八次会议和2025年第一次临时股东 大会，审议通过《关于拟变更注册地址并修订<公司章程>的议案》。具体内容详 见公司分别于2024年12月31日和2025年1月17日在北京证券交易所指定信息披露 平台（www.bse.cn）披露的《关于拟变更公司注册地址并修订<公司章程>公告》 （公告编号：2024-150）、《公司章程》（公告编号：2025-004）。 二、工商变更登记情况 公司已完成工商变更登记及备案手续，并于2025年2月11日取得邢台市市场 监督管理局颁发的营业执照。新取得的营业执照基本信息如下： 名称：邢台纳科诺尔精轧科技股份有限公司 统一社会信用代码：911305007314312340 类型：股份有限公司(上市、自然人投资或控股) 注册资 ...