内容概要：石墨烯薄膜作为一种由单层或多层碳原子构成的二维纳米材料，凭借其独特的sp²杂化蜂窝 结构和优异的导电性、机械强度及超薄特性，已成为推动新一代信息技术、新能源和柔性电子等领域变 革的关键材料。在国家政策的大力支持下，石墨烯薄膜产业正迎来快速发展期。近年来，我国通过《国 家创新驱动发展战略纲要》等一系列政策文件，构建起涵盖技术研发、成果转化和场景应用的全链条政 策生态，为行业发展提供了强有力的制度保障。当前，中国石墨烯薄膜产业已形成"粉体规模化、薄膜 高端化"的差异化发展格局，在多个应用领域取得显著突破。在消费电子领域，宁波墨西研发的导热膜 导热系数达2000W/m·K，成为华为、小米等旗舰机型的核心散热材料；在柔性显示方面，国产石墨烯透 明导电电极耐弯折超10万次，支撑折叠屏手机渗透率突破30%；医疗健康领域，烯旺科技的医疗级发热 膜获得二类医疗器械认证，开辟了新的应用场景。随着CVD工艺持续优化和卷对卷连续制备技术的突 破，预计2027年市场规模将突破百亿元。 上市企业：方大炭素（600516.SH）、贝特瑞（835185.BJ）、宝泰隆（601011.SH）、德尔未来 （002631.SZ）、华丽 ...

按照2023年进口量计算，新关税法令将影响价值约3.4亿美元（约24.4亿元人民币）的进口产品。彭博 NEF的数据显示，去年美国曾进口18万吨的石墨产品，其中三分之二来自中国。IEA还表示，石墨材料 是存在潜在供应风险的关键矿产之一。 今年5月，美国商务部便针对中国的阳极级石墨材料展开一项独立反补贴调查，并声称其认定这些从中 国进口的石墨产品存在"不公平补贴"。 自今年年初特朗普上任以来，美国便持续加大对中国关键矿物和电池技术出口管制措施，并且通过减少 电动化转型投入来减轻美国对于中国商品和技术的依赖。有分析机构表示，此次石墨关税的进一步提升 或许也是其中的一环。 咨询公司CRU Group的电池材料负责人萨姆·阿达姆（Sam Adham）表示，美国对中国石墨产品加征的 关税将对电池制造商构成重大打击。他分析称，"160%的关税相当于使汽车动力电池每千瓦时平均增加 7美元（约50.2元人民币）成本。该数额将侵蚀电池制造商一到两个季度的利润。" 值得一提的是，在今年年初美国活性阳极材料生产商协会（American Active Anode Material Producers） 提出要对此进行调查时，外媒就曾警 ...

【环球时报报道 记者 丁雅栀】据路透社报道，当地时间7月17日，美国商务部认定中国进口石墨存在不 公平补贴，将对从中国进口的阳极级石墨征收93.5%的初步反倾销关税，并表示最终决定将在12月5日 前公布。对此，中国外交部发言人林剑7月18日表示，中美经贸合作本质是互利共赢，希望美方切实遵 守市场经济规则，维护中美经贸关系健康稳定发展。 石墨是制造电池的关键材料。美国彭博社回顾称，去年12月，代表美国石墨生产商的行业协会"美国活 性阳极材料生产商协会"（AAAMP）向两家联邦机构提交请愿书，要求调查中国企业是否违反反倾销 法。根据AAAMP的说法，新关税将在现有税率基础上加征，使有效关税达到160%。 路透社获取的美国商务部事实清单显示，对所有中国生产商统一适用93.5%的反倾销税率及现金保证金 率。该政策涉及2023年价值3.471亿美元的进口产品，适用于碳含量按重量计最低纯度不低于90%的阳 极级石墨材料，包括人造石墨、天然石墨或两者混合物。 此前，美国商务部5月20日在针对中国阳极级石墨材料开展的另一项平行的反补贴调查中，已初步裁定 两家中国企业未充分配合调查，依据"不利推定事实"推断补贴率超过700%， ...

Group 1: Market Performance - The Hong Kong stock market indices collectively rebounded, with the Hang Seng Index rising by 1.33%, the Hang Seng China Enterprises Index increasing by 1.51%, and the Hang Seng Tech Index gaining 1.65% [1] - The SaaS sector saw significant gains, with companies like Huilyang Technology rising by 15.56%, Yika by 10.11%, and Kingdee International by 7.27% [1] - The stablecoin concept also surged, highlighted by Yaocai Securities rising by 16.93% and Huajian Medical increasing by 20.41% following the U.S. House of Representatives passing a bill to establish a legal framework for stablecoins [1] Group 2: Sector Performance - Gold and non-ferrous metal stocks experienced a broad increase, with Lingbao Gold rising by 6.24% and China Molybdenum by 3.96% as spot gold prices rose above $3340 per ounce [2] - Major financial sectors, including Chinese brokerage and insurance stocks, also saw gains, with Xingsheng International up by 7.41% and China Life by 5.13% [2] Group 3: Automotive and Related Sectors - The automotive sector, including lithium battery and Tesla-related stocks, showed strong performance, with Tianqi Lithium rising by 5.82% and NIO increasing by 4.62% [3] - Other consumer sectors such as film, tobacco, and food stocks also performed well, with companies like Simoer International rising by 4.99% [3] Group 4: Declining Sectors - Sectors such as cosmetics, aviation, and luxury goods saw declines, with China Eastern Airlines dropping by 2.72% [3] - Notably, Chuangmeng Tiandi experienced a significant drop of 30.12%, despite expectations of turning a profit in the first half of the year [3]

"你提到的具体问题，建议向中方主管部门询问。"林剑指出，中美经贸合作的本质是互利共赢，希望美 方切实遵守市场经济规则，维护中美经贸关系健康稳定发展。（北京日报） 7月18日，外交部发言人林剑主持例行记者会。 有记者提问，美国商务部宣布，在认定从中国进口的某种石墨为电动汽车关键部件后，将对其初步征收 超90%的反倾销税。中方对此有何评论？ ...

Stock Options - The number of stock options available for grant and issuance as of January 1, 2024, and December 31, 2024, is 160,000,000 shares, representing approximately 10% of the total issued shares as of the annual report date [4]. - The remaining term of the stock option plan is approximately 7 years and 2 months as of the annual report date, which is valid for ten years from the adoption date of June 21, 2022 [5]. - The additional information provided does not affect other data disclosed in the annual report [6].

Group 1 - The Hang Seng Index fell by 1.35% to close at 23,282.33 points on May 26, while China Graphite (02237.HK) rose by 12.73% to HKD 0.31 per share with a trading volume of 1.61 million shares and a turnover of HKD 477,200, showing a volatility of 14.55% [1] - Over the past month, China Graphite has experienced a cumulative decline of 12.7%, and a year-to-date decline of 24.66%, underperforming the Hang Seng Index which has increased by 17.65% [2] - As of December 31, 2024, China Graphite reported total revenue of CNY 142 million, a year-on-year decrease of 29.52%, and a net profit attributable to shareholders of -CNY 12.501 million, a year-on-year decrease of 158.64%, with a gross margin of 29.2% and a debt-to-asset ratio of 22.42% [2] Group 2 - Currently, there are no institutional investment ratings for China Graphite [3] - The average price-to-earnings (P/E) ratio for the general metals and minerals industry is -3.58 times, with a median of -0.1 times. China Graphite has a P/E ratio of -32.59 times, ranking 39th in the industry [3] - China Graphite Group Limited primarily engages in the production and sale of flake graphite concentrate and spherical graphite in China, operating through two main entities: Yixiang Graphite and Yixiang New Energy Materials [3]

Financial Performance - For the fiscal year 2024, total revenue was approximately RMB 142.4 million, a decrease of about 29.5% compared to RMB 201.9 million in fiscal year 2023[4]. - Sales revenue from spherical graphite and its by-products was approximately RMB 29.4 million, down 70.5% from RMB 99.6 million in the previous fiscal year[4]. - Sales revenue from flake graphite concentrate increased by 7.5% to approximately RMB 109.0 million, compared to RMB 101.3 million in fiscal year 2023[4]. - Gross profit for fiscal year 2024 was approximately RMB 41.6 million, a decrease of 43.6% from RMB 73.7 million in fiscal year 2023, with a gross margin decline from 36.5% to 29.2%[4]. - The net loss for fiscal year 2024 was approximately RMB 12.5 million, compared to a net profit of RMB 21.3 million in fiscal year 2023, representing a decline of 158.6%[4]. - The decline in sales prices, particularly for spherical graphite products, was attributed to a slowdown in the downstream anode industry and intensified competition in the graphite market[4]. - Total revenue for the fiscal year 2024 was approximately RMB 142.4 million, a year-on-year decrease of 29.5% due to weak market demand in the natural graphite industry and intense competition[14]. - The gross profit for the fiscal year 2024 was approximately RMB 41.6 million, a decrease of 43.6% year-on-year, with a gross margin of 29.2%, down 7.3 percentage points[14]. - The company recorded a net loss of approximately RMB 12.5 million for the fiscal year 2024, compared to a net profit of approximately RMB 21.3 million in the previous year[14]. - Revenue from sales of spherical graphite and its by-products accounted for approximately 20.7% of total revenue in FY2024, down from 49.3% in FY2023[44]. - The sales revenue from flake graphite concentrates increased to RMB 108.966 million in FY2024, representing 76.5% of total revenue[43]. - The company recorded a tax credit of approximately RMB 1.0 million for fiscal year 2024, compared to a tax expense of approximately RMB 2.8 million for fiscal year 2023[57]. - The adjusted net loss under non-Hong Kong Financial Reporting Standards for fiscal year 2024 was RMB 15.9 million, down from an adjusted profit of RMB 18.7 million in fiscal year 2023[59]. Production and Sales - Sales volume of spherical graphite was 3,089 tons, a decrease of 52.0% year-on-year, with a gross margin of 16.6%, down 18.9 percentage points[15]. - The total production of spherical graphite is planned to decrease from approximately 8,700 tons in fiscal year 2023 to approximately 3,200 tons in fiscal year 2024[15]. - The total sales volume of flake graphite concentrate in fiscal year 2024 was 45,432 tons, compared to 36,348 tons in fiscal year 2023[46]. - Revenue from flake graphite concentrate sales increased to approximately RMB 109.0 million in fiscal year 2024, up by about 7.5% from RMB 101.3 million in fiscal year 2023[47]. - Revenue from spherical graphite sales dropped significantly to approximately RMB 29.4 million in fiscal year 2024, a decrease of about 70.5% from RMB 99.6 million in fiscal year 2023[47]. Strategic Focus and Market Adaptation - The company has shifted its focus to increase sales of flake graphite concentrate to maintain profitability amid challenging market conditions[4]. - The company is exploring new strategies for market expansion and product development to adapt to the evolving market landscape[4]. - The company plans to adopt a conservative strategy for business expansion and development in response to market changes during the industry's turbulent period[23]. - The company aims to strengthen its competitiveness in the anode materials sector while maintaining its core business in refractory materials manufacturing[23]. - The company aims to enhance employee engagement and accountability to achieve long-term sustainable growth and success in the graphite industry[97]. - In 2024, the company will focus on business expansion, customer satisfaction, operational safety and efficiency, and environmentally friendly production[97]. Research and Development - The company continues to enhance its research and development capabilities, focusing on innovative processes in the natural graphite industry[19]. - Research and development expenses decreased to approximately RMB 10.9 million in fiscal year 2024, a reduction of about 36.5% from RMB 17.2 million in fiscal year 2023[55]. Corporate Governance - The company has adhered to all applicable corporate governance code provisions during the reporting period, except for a specific provision related to the chairman and CEO[98]. - The board of directors is responsible for overseeing the company's overall strategy and financial performance, including risk management and compliance with legal regulations[99]. - The board consists of two executive directors and four independent non-executive directors, ensuring a strong independent element in its composition[106]. - The company has established a robust internal control system to monitor financial performance and risk management[99]. - The audit committee consists of four members, including Mr. He as the chairman, who has appropriate accounting and financial management expertise[114]. - The company has established various committees, including the audit committee, remuneration committee, nomination committee, and compliance committee, operating under the board's adopted terms of reference[112]. - The board has confirmed the effectiveness of the risk management and internal control systems during the reporting period[133]. Shareholder Information - The company did not recommend a final dividend for the fiscal year 2024, consistent with no dividend in fiscal year 2023[169]. - The company has a rigorous and ongoing strategic planning process to identify and assess opportunities and challenges, creating a planned action plan for sustainable long-term value for shareholders[97]. - The company has established long-term stable relationships with its top five customers and suppliers[159]. - The company emphasizes the importance of maintaining good relationships with stakeholders to achieve long-term goals[158]. Environmental Commitment - The company is committed to sustainable development and reducing energy consumption to minimize environmental impact[166].

转自：前瞻产业研究院 行业主要上市公司：贝特瑞(835185);方大炭素(600516);德尔未来(002631);沃特股份(002886);二维碳素 (833608)等 本文核心数据：市场规模等 产业概况 1、定义 石墨烯，是一种由碳原子以sp²杂化轨道组成六角型呈蜂巢晶格的二维碳纳米材料。应用于物理、材 料、电子信息、计算机等众多领域，具有较好的额导热性、光学特性和稳定性。石墨烯虽然从合成和证 实存在到今天只有短短十几年的时间，但目前已经得到了较为广泛的应用。石墨烯层数可分为单层石墨 烯、少层石墨烯和多层石墨烯;按照功能化形式可以分为氧化石墨烯、氢化石墨烯、氟化石墨烯等;按照 产品形态又可分为石墨烯粉体和石墨烯薄膜。 | 特点 | 描述 | 主要应用 | | --- | --- | --- | | 高导电性 | 载流子迁移率室温下约为 15000cm2/ (V·s),超过硅材料 的10倍 > | 芯片、导电剂、传感器、锂电池 | | 高导热性 | 纯的无缺陷的单层石墨烯的导热系数高达 5300W/(m·K), 高于碳纳米管和金刚石 | 散热元件、导热元件 | | 高强度 | 破坏强度 42M/m,是钢铁的 ...

转自：前瞻产业研究院 行业主要上市公司：贝特瑞(835185);方大炭素(600516);德尔未来(002631);沃特股份(002886);二维碳素 (833608)等 本文核心数据：投融资及兼并重组事件 1、石墨烯行业投资热度有所下降 整体来看，我国石墨烯行业投融资事件主要集中在2021年之后，其中2023年投融资事件数量最多，达到 了20起;2024年中国石墨烯行业投融资数量下降至6起。 注：上述统计时间截止2025年1月21日，下同。 2、石墨烯行业处于快速发展阶段 从石墨烯的投资轮次分析，目前石墨烯行业的融资处于快速发展阶段。目前石墨烯行业投融资轮次主要 集中在天使轮、A轮，具体来看，天使轮的投融资事件最多，达到了19起。 烯牛数据 图表3:2016-2024年中国石墨烯行业代表企业融资事件汇总(一) | 融资时间 | 融资方 | 融资轮次 | 融资金额 | 投资方 | 融资方主营业务 | | --- | --- | --- | --- | --- | --- | | 2024年11月 | 德烯科技 | 股权投资 | 未披露 | 精工科技 | 单层石墨烯及其宏 | | | | | | | 观组装材料 ...