Core Viewpoint - Jiangsu Yuanhang Precision Alloy Technology Co., Ltd. (Yuanhang Precision) is focused on enhancing its production efficiency and market influence through its fundraising projects, while maintaining strict inventory management to mitigate risks [1] Company Overview - Yuanhang Precision was established in 2006 and is recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise and a high-tech enterprise [1] - The company specializes in the research, production, and sales of precision conductor materials for batteries, with applications in consumer electronics, new energy vehicles, energy storage, electric two-wheelers, power tools, aerospace, and metal commemorative coins [1] Financial Performance - As of the end of September, the company reported a revenue of 769 million yuan, representing a year-on-year increase of 26.71% [1] - The net profit attributable to shareholders decreased slightly by 2.68% to 40.99 million yuan due to share-based payment reasons [1] - The net profit excluding non-recurring gains and losses was 39.67 million yuan, showing a year-on-year growth of 7.81% [1]

Investment Rating - The investment rating for the company is "Outperform" (maintained) [3] Core Insights - The company reported a revenue of 769 million yuan for the first three quarters of 2025, representing a year-on-year growth of 26.71%. However, the net profit attributable to the parent company decreased by 2.68% to 40.99 million yuan [5] - In Q3 2025, the company achieved a revenue of 283 million yuan, a year-on-year increase of 29.06%, while the net profit attributable to the parent company fell by 17.81% [5] - The company has been recognized as a national-level "Little Giant" enterprise, indicating its strong position in the specialized and innovative sector [5] - The hydrogen energy business has shown good growth, with products like nickel strips and nickel plates being utilized in hydrogen production equipment, enhancing the lifespan of electrolysis devices [5] Financial Summary - For 2025, the company is projected to achieve a revenue of 985 million yuan, with a year-on-year growth of 15.6%. The net profit is expected to be 63 million yuan, reflecting a decrease of 6% [8] - The gross margin is forecasted to be 15.0% in 2025, with a net margin of 6.4% [12] - The earnings per share (EPS) for 2025 is estimated at 0.63 yuan, with a price-to-earnings (P/E) ratio of 53.5 times [8][12]

证券代码：920914 证券简称：远航精密 公告编号：2025-163 □业绩说明会 □媒体采访 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 √特定对象调研 √现场参观 □新闻发布会 □分析师会议 □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 10 月 30 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：东吴证券、华源证券、联储证券、开源证券、民生证券、 爱建证券、华鑫证券、山西证券、长江证券、中国国际金融股份有限公司、东兴 基金、创金合信基金、易方达基金、中信建投基金、长信基金、益民基金、中天 汇富基金、淳厚基金、鸿运私募基金、张家港高竹私募基金、深圳猎投资本、华 夏未来资本、景泰利兴资产、尚诚资产、招商信诺资产、上海冰河资产、太平资 产、晨鸣资管、循远投资、北京星允投资、西安敦成投资、深圳国晖投资、深圳 招银理财 回答：随着终端应用市场新能源汽车 ...

证券代码：920914 证券简称：远航精密 公告编号：2025-161 江苏远航精密合金科技股份有限公司 第五届董事会第十七次会议决议公告 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 29 日 2.会议召开地点：江苏远航精密合金科技股份有限公司会议室 3.会议召开方式：现场与通讯相结合的方式 二、议案审议情况 4.发出董事会会议通知的时间和方式：2025 年 10 月 19 日以书面和邮寄方式 发出 5.会议主持人：周林峰 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： 会议的召开符合《公司法》及《公司章程》的有关规定，会议形成的决议合 法有效。 （二）会议出席情况 会议应出席董事 7 人，出席和授权出席董事 7 人。 董事李自洪、薛文东、李慈强因异地工作以通讯方式参与表决。 （一）审议通过《关于公司<2025 年三季度报告>的议案》 1.议案内容： 根据相关法律法规及《公司章程》等规定，公司编制了 ...

截止本公告日，上述公示已结束。根据《优质中小企业梯度培育管理暂行办 法》（工信部企业〔2022〕63 号），公示无异议的公司，将由国家工业和信息化部 认定为专精特新"小巨人"企业。 二、对公司的影响 公司此次复核通过国家级专精特新"小巨人"企业，是相关部门对公司技术水 平、研发创新能力、产品服务、业务发展及综合实力等方面的认可和肯定，有利 于提高公司品牌知名度和在行业内的影响力，对公司的发展将产生积极影响。公 司将以此为契机，今后持续加大研发投入，以创新研发作为发展的核心驱动力， 不断提升产品创新能力和科技含量，增强公司核心竞争力。 证券代码：920914 证券简称：远航精密 公告编号：2025-160 江苏远航精密合金科技股份有限公司 关于公司复核通过第四批国家级专精特新"小巨 人"企业并完成公示的公告 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。 一、基本情况 近日，江苏省工业和信息化厅发布《关于江苏省第七批专精特新"小巨人" 企业和 2025 年专精特新"小巨人"复核通过企业名单的公示》，江苏远 ...

证券代码：920914 证券简称：远航精密 公告编号：2025-159 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 √特定对象调研 □业绩说明会 □媒体采访 √现场参观 □分析师会议 □路演活动 √其他 （线下策略会） 二、 投资者关系活动情况 活动时间：2025 年 10 月 15 日至 2025 年 10 月 16 日 活动地点：上海浦东新区陆家嘴世纪大道上海浦东香格里拉酒店、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：民生证券、国泰海通证券、山西证券、长江证券、人保资 产基金、汇安基金、淳厚基金、华泰柏瑞基金、昊晟基金、瀛赐基金、荣信泰私 募基金、上海利幄私募基金、仙人掌私募基金、平安权益投资、杭州红骅投资、 大家保险 上市公司接待人员：董事、董事会秘书、副总经理徐斐女士、副总经理汝金 明先生 三、 投资者关系活动主要内容 本次投资者关系活动的主要问题及公司对问题的回复情况如下： 问题 1：请公司介 ...

Investment Rating - The report indicates a positive outlook for the energy storage industry, particularly focusing on lithium-ion battery technologies and their advancements [1][2]. Core Insights - The research highlights significant progress in solid-state lithium batteries, particularly in solid-solid interface contact, which is crucial for their engineering applications [6][7]. - The electrochemical energy storage sector is experiencing rapid growth, with a notable increase in installed capacity and technological diversification [10][11]. - As of June 2025, the total operational energy storage capacity reached 75.79 GW/175.12 GWh, with lithium-ion batteries dominating the market [25][36]. Summary by Sections 1. Rapid Development of Electrochemical Energy Storage Technologies - The report emphasizes the advancements in solid-state lithium batteries, which are seen as the next generation of energy storage devices due to their high safety and energy density [6][7]. - The energy storage technology landscape is diversifying, with lithium-ion batteries maintaining a dominant position, accounting for 97.34% of the total operational energy storage capacity as of June 2025 [36][19]. 2. Market Performance of North Exchange Technology Growth Stocks - The median price change for North Exchange technology growth stocks was +0.11% from October 9 to October 10, 2025, with 80 companies (52%) experiencing an increase [42][44]. - Notable performers included Changfu Co., Ltd. (+29.89%) and Lingge Technology (+29.82%) [45]. 3. Industry Valuation Metrics - The median TTM price-to-earnings ratio for the new energy industry increased by 1.70% to 38.7X, indicating a positive valuation trend [46]. - The electronic equipment sector's median TTM P/E ratio rose from 57.8X to 58.6X, reflecting a stable market environment [46]. 4. Company Announcements - Tianhong Lithium Battery and Shaanxi Hongda Electric Power Engineering Co., Ltd. plan to jointly establish a holding subsidiary with a registered capital of RMB 50 million [4]. 5. Energy Storage Industry Overview - The report identifies 24 companies within the energy storage industry chain on the North Exchange, categorized into upstream (materials & production equipment), midstream (manufacturing & integration), and downstream (systems & operations) sectors [37][39]. - The report notes that large-scale energy storage projects (over 100 MW) are becoming increasingly prevalent, with a significant portion of new installations focusing on independent energy storage systems [33][30].