Group 1 - The average return of 11 theme funds on the Beijing Stock Exchange (BSE) reached 52.12% in 2025, indicating a strong performance and potential for diversified investor participation as the two-year fixed-open products become available for subscription and redemption [1][19][20] - The number of public fund institutions investing in BSE stocks increased to 29 by the end of 2024, a year-on-year growth of 31.82%, with the number of heavily invested companies rising from 34 to 41 in the first three quarters of 2025 [11][12] - The BSE's market performance shows a shift towards diversified investment styles, with a focus on emerging industries such as intelligent connected new energy vehicles, commercial aerospace, low-altitude economy, and robotics [1][31] Group 2 - The BSE 50 Index reported a value of 1,387.70 points, with a week-on-week increase of 0.75%, while the BSE specialized and new index reached 2,317.70 points, up 0.79% [2][43] - The TTM PE ratios for various sectors on the BSE include high-end equipment at 38.37X, information technology at 84.54X, and chemical new materials at 42.21X, indicating sector-specific valuation trends [2][33] - The top ten companies by market value held by funds on the BSE as of Q3 2025 include Jinbo Bio, Naconoer, and Better Energy, with significant changes in holdings reflecting market dynamics [22][23][24] Group 3 - The BSE's passive index fund scale has seen significant growth, with the BSE 50 Index fund size reaching 128.93 billion yuan by November 28, 2025, and the number of tracking products increasing to 68 [13][16] - The fund holdings on the BSE show that 59.17% of companies have a market value between 2-5 billion yuan, while 49.17% of companies reported a net profit of less than 50 million yuan in 2024 [27][29] - The industry allocation preferences of funds on the BSE are similar to those on the dual innovation board, with the top five sectors being machinery, hardware equipment, electrical equipment, automotive parts, and software services [31][32]

证券代码：920239 证券简称：长虹能源 公告编号：2025-115 四川长虹新能源科技股份有限公司 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 □特定对象调研 √业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 上市公司接待人员：董事长邵敏先生，副董事长、总经理郭龙先生，副总经 理王胜兵先生，财务总监赵京春先生，董事会秘书郭健先生 三、 投资者关系活动主要内容 本次业绩说明会通过宣传视频、图片、文字等形式对公司情况进行了介绍。 同时，公司在业绩说明会上就投资者普遍关心的问题进行了回复，主要问题及回 复概要如下： 问题 1：请问公司三季度业绩相关情况? 回答：尊敬的投资者，您好！面对复杂严峻的外部环境与行业内卷的多重挑 战，公司积极应对市场波动，通过深化内部改革、加强能力建设、优化产品结构、 积极开拓市场、着力提质增效等系列举措，2025 年前三季度公司实现营业收入 32.49 亿元，同比增长 21.73%，实现归属于母公司 ...

证券代码：920239 证券简称：长虹能源 公告编号：2025-114 四川长虹新能源科技股份有限公司 2025 年第三季度报告业绩说明会预告公告 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、 说明会类型 二、 说明会召开的时间、地点 （一）会议召开时间：2025 年 11 月 21 日（星期五）16:00-17:00。 （二）会议召开地点 本次业绩说明会将采用网络远程的方式举行，投资者可登录上海证券报·中 国证券网路演中心（https://roadshow.cnstock.com/）参与本次业绩说明会。 三、 参加人员 公司董事长：邵敏先生 公司副董事长、总经理：郭龙先生 公司副总经理：王胜兵先生 公司财务总监：赵京春先生 公司董事会秘书：郭健先生 四、 投资者参加方式 本次说明会采用网络方式召开。 为充分尊重投资者，提升交流的针对性，现就公司本次业绩说明会提前向投 资者公开征集问题，广泛听取投资者的意见和建议。投资者可于 2025 年 11 月 20 日（星期四）15:00 前访问 http ...

第四届董事会第三次会议决议公告 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。 证券代码：920239 证券简称：长虹能源 公告编号：2025-113 一、会议召开和出席情况 四川长虹新能源科技股份有限公司 会议应出席董事 9 人，出席和授权出席董事 0 人。 6.会议列席人员：高级管理人员 7.召开情况合法合规的说明： （一）会议召开情况 本次会议的召集、召开、议案审议程序等符合有关法律、行政法规、部门规 章、规范性文件和《公司章程》的规定。 1.会议召开时间：2025 年 11 月 17 日 （二）会议出席情况 2.会议召开地点：公司会议室 3.会议召开方式：通讯方式 4.发出董事会会议通知的时间和方式：2025 年 11 月 14 日以电子邮件方式发 出 5.会议主持人：董事长邵敏先生 二、议案审议情况 （一）审议通过《关于控股子公司长虹三杰向其全资子公司长虹杰创增加注册资 本金的议案》 1.议案内容： 为增强四川长虹杰创锂电科技有限公司（以下简称"长虹杰创"）资本实力， 提升对外融资能力，公司董 ...

四川长虹新能源科技股份有限公司（以下简称"公司"）于 2025 年 9 月 4 日召开第三届董事会第四十三次会议、2025 年 9 月 19 日召开 2025 年第二次临 时股东会，审议通过《关于取消监事会、变更注册资本并修订<公司章程>的议案》， 具体内容详见公司于 2025 年 9 月 4 日在北京证券交易所官方信息披露平台 （www.bse.cn）上披露的《关于取消监事会、变更注册资本并修订<公司章程>的 公告》（公告编号：2025-057），2025 年 9 月 22 日在北京证券交易所官方信息 披露平台（www.bse.cn）上披露的《2025 年第二次临时股东会决议公告》（公告 编号：2025-100）、《四川长虹新能源科技股份有限公司章程》。 证券代码：920239 证券简称：长虹能源 公告编号：2025-112 四川长虹新能源科技股份有限公司 关于完成工商变更登记及公司章程备案并取得换发营业执照的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏，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 二、工商变更登记情况 目前公 ...

证券代码：920239 证券简称：长虹能源 公告编号：2025-111 四川长虹新能源科技股份有限公司 投资者关系活动记录表 □业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 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 √特定对象调研 □其他 二、 投资者关系活动情况 活动时间：2025 年 10 月 24 日、2025 年 10 月 27 日 活动地点：线上调研 参会单位及人员： 由开源证券诸海滨先生主持的电话会议，线上参与单位有：开源证券股份有 限公司、中天汇富基金管理有限公司、中金基金管理有限公司、华夏基金管理有 限公司、信达澳银基金管理有限公司、创金合信基金管理有限公司、国投创益产 业基金管理有限公司、中国国际金融股份有限公司、浙商证券股份有限公司、长 江证券股份有限公司、西部证券股份有限公司、民生证券股份有限公司、华鑫证 券有限责任公司、国泰海通证券投资部、上海赛伯乐投资有限公司、上海汇瑾资 产管理有限公司、上海颢升私募基金管理有限公司 ...

Core Viewpoint - Changhong Energy reported a revenue increase of 21.73% and a net profit increase of 23.69% for the first three quarters of 2025, maintaining a "buy" rating [1] Financial Performance - Total operating revenue for the first three quarters of 2025 reached 3.249 billion yuan, a year-on-year increase of 21.73% [1] - Net profit attributable to shareholders for the same period was 177 million yuan, reflecting a year-on-year growth of 23.69% [1] - In Q3 2025, the single-quarter net profit attributable to shareholders was 65.47 million yuan, showing a year-on-year increase of 15.90% [1] - Profit forecasts for 2025-2027 are 239 million, 334 million, and 381 million yuan respectively, with corresponding EPS of 1.31, 1.83, and 2.09 yuan, and current PE ratios of 26.7, 19.1, and 16.8 [1] Capacity Expansion - Changhong Energy is focusing on two major capacity expansion projects: the Thai subsidiary and the Sanjie Phase IV project [2] - The Thai subsidiary's registered capital increased from 730 million to 1.13 billion Thai Baht, with an additional monetary investment of 12.5 million yuan and equipment investment of 89 million yuan [2] Market Trends - Lithium carbonate prices have stabilized at low levels, with a slight recovery starting in July 2025, peaking at 86,000 yuan per ton on August 22, 2025 [2] - Changhong Energy has achieved mass production of semi-solid batteries with a capacity of 3000mAh and silicon-carbon anode batteries, along with the completion of a 4.25V drone battery project [2] - The company was recognized as a quality enterprise in the humanoid robot supply chain at the 2024 China Humanoid Robot Technology Application Summit held in Shanghai [2]

Investment Rating - The investment rating for Changhong Energy is maintained at "Outperform" [3] Core Views - In the first three quarters of 2025, Changhong Energy achieved total operating revenue of 3.249 billion yuan, a year-on-year increase of 21.73%, and a net profit attributable to the parent company of 177 million yuan, up 23.69% year-on-year [3] - The company is expected to continue its profit growth, with projected net profits of 239 million, 334 million, and 381 million yuan for 2025, 2026, and 2027 respectively, corresponding to EPS of 1.31, 1.83, and 2.09 yuan [3] - The current stock price corresponds to P/E ratios of 26.7, 19.1, and 16.8 for the years 2025, 2026, and 2027 respectively [3] Financial Performance - In Q3 2025, the company reported a net profit of 65.47 million yuan, reflecting a year-on-year growth of 15.90% [3] - The company has two major capacity expansion projects: the Thailand subsidiary and the Sanjie Phase IV project, with the Thailand subsidiary's registered capital increased from 730 million to 1.13 billion Thai Baht [4] - The price of battery-grade lithium carbonate has shown a downward trend in 2023, with a slight recovery starting in July 2025, peaking at 86,000 yuan per ton [5] Future Outlook - Changhong Energy is expanding its production capacity in lithium batteries and solid-state batteries, with mass production of 3000mAh solid-state batteries already achieved [5] - The company has been recognized as a quality supplier in the humanoid robot supply chain at the 2024 China Humanoid Robot Technology Application Summit [5] - The financial projections indicate a steady increase in revenue and net profit over the next few years, with a projected revenue of 4.4 billion yuan in 2025, growing to 5.836 billion yuan by 2027 [7]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company achieved a revenue of 3.249 billion yuan in Q1-Q3 2025, representing a year-on-year increase of 21.73%, and a net profit attributable to shareholders of 176.63 million yuan, up 23.69% year-on-year [6] - The company is benefiting from overseas expansion and new product development, capitalizing on the recovery opportunities in the lithium battery market [5][7] - The company’s operating cash flow improved significantly, reaching 293 million yuan in Q3 2025, a 99% increase year-on-year [6] Summary by Sections Market Performance - The closing price is 35.09 yuan, with a one-year high of 60.00 yuan and a low of 26.69 yuan [3] Financial Data - Total market capitalization is approximately 6.39 billion yuan, with a circulating market value of about 6.30 billion yuan [3] - The company has a debt-to-asset ratio of 75.84% and a net asset value per share of 5.24 yuan [3] Business Highlights - The company’s contract liabilities increased by 122% year-on-year, indicating a rise in order volume due to improved industry conditions [6] - The company is upgrading production lines and advancing the research and production of high-rate lithium batteries and polymer lithium batteries [6] - The company is expanding its manufacturing base with new production lines in Thailand, aiming to create a supply chain that integrates domestic and international resources [6] Market Expansion - The alkaline battery business is focusing on maintaining existing customer relationships while expanding new ones [6] - The high-rate lithium battery segment is enhancing product development and collaboration with leading customers, targeting the smart short-distance travel market [6] - The polymer lithium battery segment is increasing revenue from 3C digital and IoT terminal products, with significant progress in new product certifications [6] Research and Development - The company is exploring new materials and processes in the alkaline battery sector to enhance performance [6] - Significant advancements have been made in high-rate lithium batteries and polymer lithium batteries, with breakthroughs in energy density and safety [6] Profit Forecast and Valuation - The projected net profits for 2025, 2026, and 2027 are 238 million yuan, 302 million yuan, and 380 million yuan, respectively, with corresponding P/E ratios of 26.8, 21.2, and 16.8 [7] - The company is expected to benefit from the growth in the smart home and IoT sectors, enhancing its differentiated R&D capabilities [7]

2.会议召开地点：公司会议室 证券代码：920239 证券简称：长虹能源 公告编号：2025-109 四川长虹新能源科技股份有限公司 第四届董事会第二次会议决议公告 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、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 10 月 23 日 3.会议召开方式：通讯方式 4.发出董事会会议通知的时间和方式：2025 年 10 月 21 日以电子邮件方式发 出 5.会议主持人：董事长邵敏先生 6.会议列席人员：高级管理人员 7.召开情况合法合规的说明： 本次会议的召集、召开、议案审议程序等符合有关法律、行政法规、部门规 章、规范性文件和《公司章程》的规定。 （二）会议出席情况 会议应出席董事 9 人，出席和授权出席董事 9 人。 二、议案审议情况 （一）审议通过《2025 年第三季度报告》 1.议案内容： 根据《北京证券交易所上市公司持续监管指引第 2 号——季度报告》《北京 证券交易所上市公司业务办理指南第 6 号——定期报告相关事项》《 ...