（4）具有《公司法》规定的不得担任公司董事、高级管理人员情形的； 1、本次激励计划预留授予的激励对象均不存在《管理办法》第八条规定的 不得成为激励对象的情形： 诺德新材料股份有限公司董事会薪酬与考核委员会 关于公司 2025 年股票期权激励计划预留授予部分激 励对象名单（预留授予日）的核查意见 诺德新材料股份有限公司（以下简称"公司"）公司董事会薪酬与考核委员 会根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共 和国证券法》（以下简称"《证券法》"）、《上市公司股权激励管理办法》（以 下简称"《管理办法》"）等有关法律法规以及《公司章程》、《诺德新材料股 份有限公司 2025 年股票期权激励计划（草案）》（以下简称"《激励计划（草 案）》"）的规定，对公司 2025 年股票期权激励计划（以下简称"本次激励计 划"）的预留授予激励对象名单（预留授予日）进行了核查，发表核实意见如下： （5）法律法规规定不得参与上市公司股权激励的； （6）中国证监会认定的其他情形。 2、本次激励计划预留授予的激励对象属于《激励计划（草案）》中规定的 公司（含子公司，下同）任职的董事、高级管理人员、中层管理人员及 ...

证券代码：600110 证券简称：诺德股份 公告编号：临 2025-058 诺德新材料股份有限公司 本议案已经公司董事会薪酬与考核委员会审议通过。 根据公司 2025 年第一次临时股东会对公司董事会的授权，本议案无需提交 股东会审议。 具体内容详见同日披露的《诺德新材料股份有限公司关于向激励对象授予 2025 年股票期权激励计划预留股票期权的公告》（公告编号：2025-059）。 董事李钢为上述激励计划的预留部分的激励对象，为本议案的关联董事，回 避了本议案的表决。 表决结果：同意 6 票；反对 0 票；弃权 0 票；回避 1 票。 第十届董事会第四十五次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 诺德新材料股份有限公司（以下简称"公司"）第十届董事会第四十五次会 议于 2025 年 9 月 25 日以通讯方式召开，会议由董事长陈立志先生主持，应出席 董事 7 名，实际出席董事 7 名，公司高管列席会议。会议的召开符合《公司法》 及《公司章程》的有关规定，所做决议合法有效。 会议审议并通过如下事项： 1、《关 ...

Core Points - The company, Nord Shares (600110.SH), announced that its board of directors has determined that the conditions for the 2025 stock option incentive plan have been met [1] - The grant date for the stock options is set for September 25, 2025, and a total of 4.7 million stock options will be granted to 45 eligible recipients [1]

Core Points - Nord Co., Ltd. (600110.SH) announced the implementation of its 2025 Stock Option Incentive Plan, with the grant date set for September 25, 2025 [1] - The board determined that the conditions for granting the stock options have been met, allowing for the issuance of 4.7 million stock options to 45 eligible recipients [1] - The exercise price for the stock options is set at 3.41 yuan per share [1]

Group 1 - The company Nord announced on September 25 that its 10th Board of Directors held its 45th meeting via communication, discussing the proposal to grant stock options under the 2025 stock option incentive plan [1] - The A-share market's total market capitalization has surpassed 116 trillion yuan, marking a significant milestone one year after the "9.24" event [1]

Core Viewpoint - Nord Shares (600110.SH) announced the implementation of its 2025 Stock Option Incentive Plan, granting stock options to eligible participants [1] Group 1: Stock Option Incentive Plan - The company has determined that the conditions for granting the stock options have been met as per the relevant regulations of the 2025 Stock Option Incentive Plan [1] - A total of 4.7 million stock options will be granted to 45 eligible participants [1] - The exercise price for the stock options is set at 3.41 yuan per share, with the grant date established as September 25, 2025 [1]

Group 1 - The company has developed high-end HVLP copper foil equipment that breaks the monopoly of imported equipment in the domestic high-end copper foil market, achieving import substitution [2] - The production technology and product quality of the company's HVLP copper foil equipment are at the industry-leading level [2] - The company serves numerous clients, including Chang Chun Group, Nanya Technology, Nordson Corporation, JIAYUAN Technology, Zhongyi Technology, Yirich, and Guangdong Yinghua [2]

Core Viewpoint - The news highlights the ongoing investor rights protection efforts for Nord Shares, with a focus on the legal claims being filed by shareholders against the company [1]. Group 1: Legal Claims and Representation - A shareholder named Hu has submitted a claim against Nord Shares, which has been accepted by lawyer Niu Bin [1]. - The Sina Investor Rights Protection Platform has received a total of 151 claims against Nord Shares [1]. - There are 11 professional lawyers available to represent claims against the company [1]. Group 2: Claim Conditions - Claims can be filed for shares purchased between April 25, 2023, and April 9, 2024, with the requirement to sell or hold the shares by April 10, 2024 [2]. - Additional claim periods include purchases made from April 29, 2023, to April 17, 2024, and from February 6, 2024, to April 9, 2024, with similar selling or holding conditions [2]. - Claims for shares bought after the listing until April 30, 2024, and those bought until April 25, 2025, are also eligible under specified conditions [2]. Group 3: Claim Submission Process - Investors can initiate claims through various platforms, including Weibo and WeChat, by providing personal information and selecting the company and reason for the claim [2]. - A detailed stock statement must be uploaded, which should include transaction details and be in a legally valid format [3]. - The claim submission process requires clear documentation, and handwritten statements are not accepted [3].

Summary of Key Points from the Conference Call Industry Overview - The conference call primarily discusses the **China Industrials** sector, focusing on various companies within the electric components and battery supply chain industries. Core Insights and Arguments 1. **Company Ratings and Market Performance**: - **Hongfa (600885.SS)**: Rated as "Buy" with a market cap of Rmb 38,479 million and a target price of Rmb 36.50, indicating a 38% upside [3][5] - **LOPAL-H (2465.HK)**: Also rated "Buy", with a market cap of Rmb 6,913 million and a target price of Rmb 15.00, showing a 36% upside [3][5] - **CSSC (600150.SS)**: Rated "Buy", market cap of Rmb 171,652 million, target price of Rmb 45.50, with a 19% upside [3][7] - **Ronbay (688005.SS)**: Rated "Neutral", market cap of Rmb 20,698 million, target price of Rmb 26.00, indicating a -10% downside [3][6] 2. **Financial Metrics**: - **P/E Ratios**: Companies like Hongfa and CSSC have P/E ratios of 20x and 23x respectively for 2026E, while Ronbay has a significantly higher P/E of 175x for 2025E [3][5][6] - **ROE**: CSSC shows a ROE of 14% for 2026E, while Hongfa has a ROE of 18% for the same year [3][5][7] 3. **Profit Forecasts**: - **Net Profit Estimates**: Hongfa's net profit is projected to grow from Rmb 1,921 million in 2025E to Rmb 2,556 million in 2027E, reflecting a growth trajectory [3][5] - **Consensus vs. UBS Estimates**: For CSSC, UBS estimates a net profit of Rmb 1,479 million in 2026E, which is 35% higher than the consensus estimate [3][7] 4. **Comparative Analysis**: - The report includes a comparative analysis of various companies in the electric components and battery supply chain sectors, highlighting differences in market cap, P/E ratios, and growth rates [5][6][7] Additional Important Insights 1. **Market Trends**: - The electric components sector is experiencing a shift towards more sustainable and efficient technologies, with companies like CATL leading in solid-state battery innovations [8][9] - The battery supply chain is under pressure with limited pricing opportunities, as indicated by the correlation between production schedules and battery index performance [11] 2. **Investment Risks**: - Companies like Nuode (600110.SH) and Yinghe (300457.SZ) are rated "Sell" due to significant projected declines in net profit and high P/E ratios, indicating potential investment risks [3][5][6] 3. **Future Catalysts**: - The potential for solid-state batteries in various applications, including electric vehicles, is highlighted as a significant growth driver for the industry [9][10] 4. **Sector Performance**: - The overall performance of the China Industrials sector is closely monitored, with specific attention to the electric components and battery supply chain segments, which are expected to see varying levels of growth and profitability [3][4][6] This summary encapsulates the key points discussed in the conference call, providing a comprehensive overview of the current state and future outlook of the China Industrials sector, particularly focusing on electric components and battery supply chains.

Investment Rating - The industry rating is optimistic [2] Core Insights - Solid-state batteries are expected to achieve a technological breakthrough in electrolyte technology by 2027 and may reach industrialization by 2030, with sulfide solid-state batteries being the most emphasized route domestically and internationally [3][24] - The current focus is on sulfide electrolytes, while composite electrolytes are anticipated to be the best long-term solution [4][33] - High-nickel ternary materials and silicon-carbon anodes are expected to dominate in the short term, with lithium-rich manganese-based and lithium metal anodes being the long-term goals [5][56] - Nickel-coated or nickel-based current collectors are being developed to address corrosion issues, while porous copper foils are being explored for their lightweight and elastic properties [6] - Other materials such as single-walled carbon nanotubes and UV adhesives are also gaining attention for their potential in solid-state battery applications [7] Summary by Sections Solid-State Battery Overview - Solid-state batteries are considered the ultimate form of lithium batteries, balancing safety and energy density [16][18] - The timeline for achieving significant milestones includes 200-300 Wh/kg energy density by 2027 and 400 Wh/kg by 2030 [19][24] Electrolytes - Sulfide electrolytes are currently the focus, with challenges in cost reduction and production scalability [4][39] - The development of halide electrolytes is also being pursued to enhance electrochemical stability and compatibility with high-voltage cathodes [44] Cathode Materials - High-nickel ternary materials are expected to be the primary choice for solid-state batteries, with ongoing modifications to improve performance [45][50] - Lithium-rich manganese-based materials are being developed to enhance energy density and reduce costs [55] Anode Materials - CVD silicon-carbon anodes are emerging as a leading option due to their performance and cost advantages, with significant growth expected in the coming years [61] - Lithium metal anodes are viewed as the ultimate solution, with ongoing research to address associated challenges [64] Investment Recommendations - Focus on leading companies in various material segments, including sulfide electrolytes, high-nickel ternary cathodes, CVD silicon-carbon anodes, and nickel-based current collectors [8]