Core Viewpoint - The Hong Kong lithium battery stocks have shown significant gains, driven by strong demand in the battery sector and optimistic production forecasts for the upcoming years [1] Company Performance - Ganfeng Lithium reported a revenue of 14.625 billion yuan for the first three quarters of 2025, a year-on-year increase of 5.02% [1] - The net profit attributable to shareholders was 25.52 million yuan, a turnaround from a loss of 640 million yuan in the same period last year [1] - Basic earnings per share for Ganfeng Lithium stood at 0.01 yuan [1] Industry Trends - Dongwu Securities highlighted robust demand during the battery peak season, with production schedules increasing month by month and sales experiencing high growth [1] - Current battery manufacturers are benefiting from energy storage demand, leading to a supply-demand imbalance [1] - Production in September increased by 10% month-on-month, with an expected further increase of 10% in October, resulting in a year-on-year growth of over 35% [1] - The overall demand for the year is projected to grow by 40%, with optimistic order forecasts from leading battery manufacturers for 2026, expecting a shipment growth of over 25%, significantly better than the previous expectation of 15-20% [1] - European power and global energy storage demand are exceeding expectations, with high growth anticipated for 2026 [1]

Core Viewpoint - The completion of the HKD 504 million equity placement by Zhengli New Energy signifies strong institutional confidence in the company's long-term growth potential, with funds allocated for accelerating lithium-ion battery production capacity, supporting solid-state battery pilot lines, and supplementing operational funds [1] Group 1: Business Growth and Capacity Expansion - The fundraising is driven by robust business fundamentals and increasing order demand, with revenue for the first half of 2025 reaching CNY 3.172 billion, a year-on-year increase of 71.9%, and net profit of CNY 220 million, with a net profit margin of 6.9% [2] - The company has established a diverse customer base, including major automotive manufacturers, and is experiencing high capacity utilization, with a monthly installation volume nearing 2 GWh, indicating a clear capacity gap due to new orders [2][3] Group 2: Technology Research and Development - The company emphasizes R&D investment, allocating 10% of the raised funds to solid-state battery pilot lines and another 10% to cutting-edge technology research, positioning itself for future advancements in battery technology [4] - Zhengli New Energy has made significant progress in aviation-grade battery applications and is focusing on enhancing energy density and fast-charging capabilities in line with national standards for electric vehicles [5][6] Group 3: Solid-State Battery Development - The company is advancing its solid-state battery technology, with plans for a pilot line expected to be completed by mid-2026, which will facilitate the transition from laboratory to industrial production [7] - The solid-state battery technology is anticipated to play a crucial role in high-end vehicle and aviation applications, potentially becoming a new growth engine for the company [7] Group 4: Conclusion - The equity placement enhances the company's competitiveness across production capacity, technology, and funding, addressing immediate capacity needs while laying a foundation for long-term development in solid-state battery research [8] - Continuous investment in new capacity is expected to support a 50% year-on-year increase in shipment volume from 2025 to 2027, driving revenue and profit growth [8]

Core Viewpoint - The company successfully completed a placement of 45.92 million new H-shares at a price of HKD 10.98 per share, representing a 23.37% premium over the last closing price of HKD 8.90, to support its expansion and R&D efforts in the growing electric vehicle market [1][2] Group 1: Placement Details - The placement accounted for approximately 1.80% of the company's enlarged issued share capital after the completion of the placement [1] - The funds raised will be allocated as follows: 70% for the construction and equipment purchase of the second phase of the new production facility in Changshu, and 30% for the construction of solid-state battery pilot lines, R&D activities, and general corporate purposes [1] Group 2: Rationale for Placement - The company cited strong growth in demand for electric vehicles and an increase in customer orders and designated projects as reasons for the need to accelerate capacity expansion [2] - Intense competition in cutting-edge technology R&D necessitates increased investment to maintain competitive advantages [2] - Supplementing working capital in light of rapidly evolving market conditions will enhance investment in core operational areas [2] Group 3: Market Implications - The successful placement reflects institutional confidence in the company's future development prospects and sends a positive signal to the market, potentially boosting investor confidence [2]

Core Viewpoint - The company, Zhengli New Energy (03677), has successfully completed a placement agreement, raising approximately HKD 500.4 million through the issuance of shares at a price of HKD 10.98 per share [1] Summary by Relevant Sections - **Placement Agreement Completion** - All conditions of the placement agreement have been met, and the placement was completed on October 24, 2025 [1] - **Share Details** - A total of 45.921 million shares were placed to no fewer than six subscribers at a price of HKD 10.98 per share [1] - **Net Proceeds** - The net proceeds from the placement amount to approximately HKD 500.4 million [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 江蘇正力新能電池技術股份有限公司 第 1 頁 共 6 頁 v 1.3.0 FF305 B. 贖回/購回股份 (擬註銷但截至期終結存日期尚未註銷) (註5及6) 第 2 頁 共 6 頁 v 1.3.0 FF305 呈交日期： 2025年10月24日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | H | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 03677 | 說明 | H股 | | | | | A. 已發行股份或庫存股份變動 | | | | ...

Group 1 - The company, Zhengli New Energy (03677), announced that all conditions under the placement agreement have been met and the placement was completed on October 24, 2025 [1] - According to the terms of the placement agreement, the exclusive placement agent successfully placed 45.921 million shares at a price of HKD 10.98 per share to no less than six subscribers [1] - The net proceeds from the placement amount to approximately HKD 500.4 million [1]

江蘇正力新能電池技術股份有限公司 第一章 總則 第一條 為維護江蘇正力新能電池技術股份有限公司（以下簡稱「公司」或「本 公司」）、股東和債權人的合法權益，規範公司的組織和行為，根據《中華人民共 和國公司法》（以下簡稱「《公司法》」）《中華人民共和國證券法》《境內企業境外發 行證券和上市管理試行辦法》《香港聯合交易所有限公司證券上市規則》（以下簡稱 「《香港上市規則》」）和其他適用法律、行政法規、部門規章、規範性文件及境內 外證券監督管理機構的有關規定，結合公司實際情況，制訂本章程。 第二條 公司系依照《公司法》及其他有關規定成立的股份有限公司。 公司系由江蘇正力新能電池技術有限公司整體改制變更，以發起方式設立， 並於2024年7月17日在蘇州市數據局註冊登記，取得營業執照，統一社會信用代 碼為91320581MA1XYB6R35。 第三條 公司於2025年2月19日向中國證券監督管理委員會（以下簡稱「中國 證監會」）完成備案，並經香港聯合交易所有限公司（以下簡稱「香港聯交所」）批 准，首次向社會公眾公開發行121,523,700股境外上市股份並於2025年4月14日在 香港聯交所上市，每股面值1元人民幣，全部 ...

Core Viewpoint - The company, Zhengli New Energy (03677.HK), has successfully completed a placement agreement, fulfilling all conditions as of October 24, 2025, and has issued 45,921,000 shares at a price of HKD 10.98 per share [1] Group 1 - The placement agreement was executed with at least six subscribers [1] - The shares were placed at a price of HKD 10.98 each [1] - The total number of shares issued in the placement is 45,921,000 [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 本公告僅供說明，不構成收購、購買或認購本公司證券的任何邀請或要約。 本公告及其任何副本不得直接或間接在美國，或在發佈或分發本公告可能構成違法的任何其他 司法管轄區發佈或分發。 本公告不構成或組成在美國購買或認購證券的任何要約或招攬的一部分。本公告所述的證券並 未且將不會根據1933年美國證券法（「美國證券法」）進行登記，且不得在美國境內提呈發售或出 售，除非已根據美國證券法進行登記，或獲得對美國證券法登記規定的豁免，或在不受美國證 券法登記規定約束的交易中進行。本公司無意根據美國證券法登記本公告所述的任何證券，也 無意在美國進行證券的公開發售。 Jiangsu Zenergy Battery Technologies Group Co., Ltd. 江蘇正力新能電池技術股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：3677） 完成根據一般授權 配售新H股 及 修訂公司章程 獨家整體 ...

Group 1 - Zhengli New Energy (03677.HK) has experienced a decline of over 9%, with a cumulative drop of more than 25% over the past six trading days [1] - As of the latest update, the stock is down 7.96%, trading at HKD 9.02 [1] - The trading volume reached HKD 62.77 million [1]