证券代码：833914 证券简称：远航精密 公告编号：2025-153 江苏远航精密合金科技股份有限公司 关于取得发明专利证书的公告 一、发明专利证书的基本信息 （一）证书号：第 8163878 号 发明名称：一种降低金属镍熔炼粘结挂壁的耐火材料坩埚的制备方法 发明人：周林峰 专利号：ZL 2023 1 1115237.X 专利申请日：2023 年 8 月 31 日 专利权人：江苏远航精密合金科技股份有限公司、江苏金泰科精密科技有 限公司 授权公告日：2025 年 8 月 15 日 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。 江苏远航精密合金科技股份有限公司（以下简称"公司"）及全资子公司江 苏金泰科精密科技有限公司（以下简称"金泰科"）于近日收到了国家知识产权 局颁发的一项发明专利证书，具体情况如下： 专利号：ZL 2023 1 1115208.3 专利申请日：2023 年 8 月 31 日 专利权人：江苏金泰科精密科技有限公司、江苏远航精密合金科技股份有 限公司 授权公告日：2025 年 8 月 ...

证券代码：833914 证券简称：远航精密 公告编号：2025-152 江苏远航精密合金科技股份有限公司 投资者关系活动记录表 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、 投资者关系活动类别 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □特定对象调研 □业绩说明会 □路演活动 √其他 （投资者线上交流会） 二、 投资者关系活动情况 活动时间：2025 年 8 月 22 日至 2025 年 8 月 25 日 活动地点：江苏远航精密合金科技股份有限公司会议室 参会单位及人员：华源证券、中泰证券、联储证券、国泰海通证券、申万宏 源证券、长江证券、东北证券、浙商证券、民生证券、华创证券、国信证券、中 信证券、银河证券、开源证券、华泰证券、南方基金、圆信永丰基金、中邮创业 基金、中信建投基金、博时基金、蜂巢基金、鹏华基金、易方达基金、永赢基金、 汇丰晋信基金、晨耀基金、宝盈基金、华农保险、北大方正人寿、长江养老保险、 中金公司、泰鼎私募证券基金、天猊投资、共青城汇美盈创投资、红骅投资、彤 源投资 ...

Group 1 - The company achieved a revenue of 486 million yuan in H1 2025, representing a year-on-year increase of 25%, and a net profit attributable to shareholders of 30.96 million yuan, with a year-on-year growth of 3% [1] - The company's precision structural components business saw a revenue increase of 62% year-on-year in H1 2025, primarily driven by increased sales of TCO products to major clients like Lenovo and Dell [2] - The company's domestic and foreign sales revenue in H1 2025 were 473.32 million yuan (up 24% year-on-year) and 12.77 million yuan (up 71% year-on-year), respectively, with significant growth in foreign sales attributed to TCO product processing [2] Group 2 - The lithium battery market in China experienced a year-on-year shipment growth of 68% in H1 2025, driven by demand from the new energy vehicle sector and storage solutions [3] - The company plans to extend its industrial chain into the FPCA field through its subsidiary, Black Wukong Energy, focusing on self-developed materials and structures to enhance competitiveness [3] - The company aims to target existing precision structural component clients in the battery and energy storage sectors for its new products [3] Group 3 - The company forecasts net profits attributable to shareholders of 82 million yuan, 100 million yuan, and 125 million yuan for 2025-2027, with corresponding P/E ratios of 44.9, 36.7, and 29.3 times [4] - The growth logic for the industry focuses on demand increases from new energy vehicles and energy storage, alongside technological upgrades such as solid-state batteries [4] - The company emphasizes business alignment with upstream nickel-based materials and stable partnerships in its operational strategy [4]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company achieved a year-on-year increase of 16% in net profit attributable to the parent company for the first half of 2025, with subsidiaries expanding their business areas [5][8] - The company's revenue for the first half of 2025 reached 486 million yuan, representing a year-on-year growth of 25% [8] - The growth in revenue is primarily driven by the increase in sales of TCO products, with major clients including Lenovo and Dell [8] Financial Performance Summary - Revenue projections for the company are as follows: - 2023: 810 million yuan - 2024: 852 million yuan - 2025E: 1,008 million yuan - 2026E: 1,209 million yuan - 2027E: 1,456 million yuan - Year-on-year growth rates for revenue are projected at -10.59% for 2023, 5.25% for 2024, and 18.33% for 2025E [7] - Net profit attributable to the parent company is forecasted as follows: - 2023: 32 million yuan - 2024: 67 million yuan - 2025E: 82 million yuan - 2026E: 100 million yuan - 2027E: 125 million yuan - Year-on-year growth rates for net profit are projected at -40.87% for 2023, 113.37% for 2024, and 21.17% for 2025E [7] Market and Industry Insights - The lithium battery market in China saw a year-on-year increase of 68% in shipments, indicating strong upstream demand [8] - The company is expanding into the FPCA field through its subsidiary, which is expected to drive organic growth [8] - The global lithium battery production reached 986.5 GWh in the first half of 2025, a year-on-year increase of 48.3% [8]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown steady growth in nickel strips and foils, with precision structural components experiencing significant growth. Solid-state products are expected to contribute additional revenue [7] - The company reported a revenue of 486 million yuan in H1 2025, a year-on-year increase of 25.38%, and a net profit attributable to shareholders of 30.96 million yuan, up 3.49% year-on-year [7] - The company is actively collaborating with leading manufacturers in the solid-state sector, which is anticipated to drive both volume and profit growth [7] Financial Summary - Revenue projections for 2023A to 2027E show an increase from 809.67 million yuan in 2023A to 1,899.73 million yuan in 2027E, with a compound annual growth rate (CAGR) of approximately 32.31% [1] - Net profit attributable to shareholders is expected to grow from 31.61 million yuan in 2023A to 132.89 million yuan in 2027E, reflecting a CAGR of 27.05% [1] - The latest diluted EPS is projected to increase from 0.32 yuan in 2023A to 1.33 yuan in 2027E [1] - The company maintains a stable expense ratio, with a period expense rate of approximately 8.1% in Q2 2025 [7] - The company's total assets are projected to grow from 1,161 million yuan in 2024A to 1,728 million yuan in 2027E [8]

Investment Rating - The report indicates a positive outlook for the solid-state battery industry, suggesting it as a key upgrade direction for lithium-ion batteries [1]. Core Insights - Solid-state batteries are expected to address the limitations of liquid lithium-ion batteries, such as energy density ceilings, safety risks from lithium dendrites, and performance issues at low temperatures [5][11]. - The global solid-state battery shipment is projected to reach 614.1 GWh by 2030, with a market size potentially reaching 17.2 billion yuan [19][21]. - The penetration rate of solid-state batteries is expected to increase from approximately 0.1% in 2023 to 10% by 2030 [22][24]. Summary by Sections 1. Solid-State Battery as an Upgrade Direction - The solid-state electrolyte enhances battery safety, with technology routes categorized into sulfide, oxide, and polymer types [5][16]. - The development of solid-state batteries is crucial for overcoming existing technological bottlenecks and meeting future diverse application needs [5][11]. 2. Industry Progress and Adoption - Major automotive manufacturers are accelerating the adoption of solid-state batteries, with a focus on sulfide technology [29][33]. - Companies like BYD and CATL have confirmed their commitment to the sulfide solid-state battery route, with production plans in place [33][36]. 3. Cost Reduction Trends - The current cost of solid-state batteries is higher than traditional lithium-ion batteries, with projections indicating that the unit cost could reach 0.78 yuan/Wh in the long term [38][42]. - The cost of solid-state batteries is expected to decrease as production yields improve, with mid-term costs estimated at around 0.50 yuan/Wh [42][43]. 4. Key Companies in the Solid-State Battery Industry - Notable companies involved in the solid-state battery sector include Nakanor, Yuanhang Precision, Better Ray, Lingge Technology, and Wuhan Blue Electric, each making significant advancements in technology and production capabilities [4][4][4]. - Nakanor has delivered key solid-state battery equipment to major clients, marking a technological breakthrough in the industry [4][4]. - Better Ray has launched high-nickel positive electrodes and solid-state electrolytes, contributing to next-generation battery solutions [4][4]. 5. Market Demand and Government Support - The Chinese government has elevated solid-state battery research to a national strategic level, with significant funding and policy support aimed at accelerating development [19][20]. - The solid-state battery market is anticipated to grow significantly, driven by advancements in technology and increasing demand for electric vehicles [19][21].

Core Viewpoint - Jiangsu Yuanhang Precision Alloy Technology Co., Ltd. has announced the achievement of the exercise conditions for the second exercise period of its 2023 stock option incentive plan, allowing eligible employees to exercise their stock options [1][6][18]. Group 1: Decision-Making Process and Disclosure - The company held its fourth board meeting on July 18, 2023, where several resolutions related to the stock option incentive plan were approved, including the list of incentive recipients and the management measures for the plan [1][2]. - The company conducted an internal public notice of the proposed incentive recipients from July 20 to July 29, 2023, with no objections raised during the notice period [3][4]. - On August 3, 2023, the company convened a temporary shareholders' meeting to approve various resolutions related to the stock option incentive plan [3][4]. Group 2: Achievement of Exercise Conditions - The second exercise period for the stock options has been reached, with the waiting period ending on August 4, 2025, following the initial grant date of August 3, 2023 [6][11]. - The exercise conditions for the second period have been met, as the company did not experience any disqualifying events, such as negative audit opinions or improper profit distributions [7][8][9]. Group 3: Specifics of the Stock Option Exercise - The exercise price for the stock options has been adjusted from 5.15 yuan to 4.95 yuan per share due to the company's annual equity distribution in 2023 and 2024 [11][15]. - The exercise period for the stock options is set from August 5, 2025, to August 5, 2026, with specific conditions under which the options can be exercised [16]. - The funds raised from the exercise of stock options will be used to supplement the company's working capital [16]. Group 4: Compliance and Legal Opinions - The remuneration and assessment committee confirmed that the company meets the necessary legal and regulatory requirements for implementing the stock option incentive plan [18]. - Legal opinions from the law firm indicate that the adjustments to the exercise price and the achievement of exercise conditions comply with relevant regulations [18][19].

证券代码：833914 证券简称：远航精密 公告编号：2025-147 1、鉴于公司 2023 年年度权益分派和 2024 年年度权益分派已实施完毕，根 据《管理办法》和公司《2023 年股票期权激励计划（草案）》（以下简称"《激 励计划》"）等的相关规定，公司应在权益分派实施方案实施完毕后对股票期权 行权价格进行调整。公司相关调整事项履行了现阶段必要的审批程序。薪酬与考 核委员会同意对股票期权行权价格进行调整。 2、经核查，公司符合《管理办法》等法律法规、规范性文件和《激励计划》 规定的实施股权激励计划的情形，公司具备实施股权激励计划的主体资格，符合 《激励计划》中对首次授予部分第二个行权期行权条件成就的要求，公司 2023 年股票期权激励计划首次授予部分第二个行权期行权条件已经成就。 3、经核查，46 名首次授予激励对象均不存在《管理办法》和《激励计划》 规定的不得成为激励对象的情形，均满足《激励计划》规定的行权条件，其作为 公司本次可行权的激励对象主体资格合法、有效。 综上，薪酬与考核委员会认为：公司本激励计划首次授予部分第二个行权期 的行权条件已成就，本次可行权的激励对象主体资格合法、有效，公司对首次 ...

证券代码：833914 证券简称：远航精密 公告编号：2025-145 江苏远航精密合金科技股份有限公司薪酬与考核委员会 江苏远航精密合金科技股份有限公司 董事会薪酬与考核委员会 2025年8月21日 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。 江苏远航精密合金科技股份有限公司（以下简称"公司"）根据《中华人民 共和国公司法》《中华人民共和国证券法》《上市公司股权激励管理办法》《北 京证券交易所上市公司持续监管指引第 3 号——股权激励和员工持股计划》等法 律法规、规范性文件以及《公司章程》的规定，董事会薪酬与考核委员会于 2025 年 8 月 21 日召开了薪酬与考核委员会 2025 年第四次会议，审议通过了《关于注 销 2023 年股票期权激励计划部分股票期权的议案》，对公司《2023 年股票期权 激励计划》（草案）（以下简称"《激励计划》"）注销 2023 年股票期权激励 计划首次授予部分股票期权事项进行了核查，现发表如下意见： 鉴于公司新增 2 名首次授予的激励对象因个人原因离职，不再具备激 ...

证券代码：833914 证券简称：远航精密 公告编号：2025-144 江苏远航精密合金科技股份有限公司 关于注销 2023 年股票期权激励计划部分股票期权的公告 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。 江苏远航精密合金科技股份有限公司（以下简称"公司"）于 2025 年 8 月 21 日召开第五届董事会第十六次会议和薪酬与考核委员会 2025 年第四次会议， 审议通过了《关于注销 2023 年股票期权激励计划部分股票期权的议案》，本次 拟对 2.95 万份股票期权注销，现将有关事项说明如下： 划拟首次授予激励对象的名单在公司内部公示栏进行了公示。在公示期内，公司 监事会未收到员工对本次拟激励对象名单提出的异议。公司于 2023 年 7 月 31 日 披露了《监事会关于公司 2023 年股票期权激励计划首次授予激励对象名单的核 查意见及公示情况说明》（公告编号：2023-079）和《监事会关于拟认定核心员 工的核查意见》（公告编号：2023-078）。 （三）2023 年 8 月 3 日，公司召 ...