Group 1 - The core point of the news is that Kolyuan experienced a decline of 5.07% on October 14, with a stock price of 6.18 yuan per share and a total market capitalization of 10.293 billion yuan [1] - Kolyuan specializes in battery and material businesses, focusing on the nickel-hydrogen battery supply chain and expanding into the rail transportation power market, while also securing raw material supply for lithium batteries and energy storage [1] - The company's revenue composition includes: 30.14% from power batteries and electrode sheets, 29.76% from consumer batteries, 13.66% from nickel products, 9.26% from trading income, 7.00% from lithium battery materials, 6.31% from energy storage products, and 3.87% from other sources [1] Group 2 - According to data, Wanji Fund has one fund heavily invested in Kolyuan, specifically the Wanji National Index 2000 ETF, which held 608,300 shares, accounting for 0.47% of the fund's net value [2] - The Wanji National Index 2000 ETF has a total scale of 808 million yuan and has achieved a return of 29.45% this year, ranking 1803 out of 4220 in its category [2] - The fund manager, Yang Kun, has been in charge for nearly six years, with the fund's best return during his tenure being 81.38% and the worst being -32.3% [3]

Investment Rating - The industry investment rating is "Recommended," indicating a positive outlook for the industry fundamentals and an expectation that the industry index will outperform the benchmark index [22]. Core Insights - The rapid increase in the proportion of renewable energy generation has transformed energy storage from an "optional" to a "mandatory" component. For instance, in the EU, renewable energy accounted for 28.5% of the power consumption structure in 2024, leading to issues such as price volatility and curtailment of wind and solar energy [3][4]. - The structural demand for energy storage has been established, and its economic viability is accelerating. The first half of the year saw numerous domestic energy storage-related listed companies announcing expansion and investment plans, indicating a sustained upward trend in the industry's prosperity [19] [3]. Summary by Sections 1. Importance of Energy Storage in Renewable Energy - The increasing integration of renewable energy sources like wind and solar into the grid has led to significant challenges, including price fluctuations and curtailment issues. Energy storage is essential for providing stability and flexibility in the power system [4][6]. - In the EU, it is estimated that an additional 56GW of energy storage by 2030 could reduce curtailment by approximately 30TWh per year and lower annual system costs by €8 billion, while also reducing CO2 emissions by about 19 million tons [6][3]. 2. Commercialization of Energy Storage in China - The National Energy Administration's recent policies have shifted China's energy generation model towards market-oriented pricing, moving away from fixed prices and subsidies [13]. - Different regions in China are developing unique energy storage market mechanisms. For example, Shandong has established a spot market for energy storage, while Guangdong relies on diverse revenue streams [14][15]. 3. Expansion Plans of Energy Storage Companies - In the first half of the year, several domestic energy storage companies announced expansion and investment plans, including major players like CATL and EVE Energy, which are ramping up production capacities significantly [16][19]. - The overall trend indicates a parallel development of manufacturing expansion, project implementation, and capital investment, with a focus on both domestic and international markets [19][18]. 4. Positive Outlook for the Energy Storage Industry - The energy storage industry is expected to maintain an upward trajectory due to the established structural demand and the accelerating economic viability of storage solutions. The combination of declining equipment prices and increased revenue opportunities is enhancing project returns [19][3].

证券代码：600478 证券简称：科力远 公告编号：2025-076 湖南科力远新能源股份有限公司 2025年第四次临时股东会决议公告 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。 重要内容提示： (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次股东会由公司董事会召集，董事长张聚东先生主持召开。本次会议采取现场 投票和网络投票相结合的方式表决，符合《公司法》和《公司章程》等相关规定。 (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 10 月 9 日 (二)股东会召开的地点：湖南省长沙高新技术开发区桐梓坡西路 348 号湖南科霸 2 楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 792 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 550,166,854 | ...

致：湖南科力远新能源股份有限公司 湖南启元律师事务所（以下简称"本所"）接受湖南科力远新能源股份有限 公司（以下简称"公司"）的委托，指派本所律师出席了公司 2025 年第四次临时 股东会（以下简称"本次股东会"），对本次股东会的召集和召开程序、出席会 议人员及召集人的资格、表决程序和表决结果的合法有效性进行律师见证，并发 表本法律意见。 湖南启元律师事务所 关于湖南科力远新能源股份有限公司 2025年第四次临时股东会的 法律意见书 二〇二五年十月 本所律师根据《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》"）、《上市公司股东会规则》 （以下简称"《股东会规则》"）等我国现行法律、法规、规范性文件以及《湖 南科力远新能源股份有限公司章程》（以下简称"《公司章程》"）的有关规定 出具本法律意见书。 为出具本法律意见书，本所律师声明如下： （一）本所律师出具本法律意见书是基于公司已承诺所有提供给本所律师的 文件的正本以及经本所律师查验与正本保持一致的副本均为真实、完整、可靠， 无隐瞒、虚假或重大遗漏之处。 （二）本所律师遵循了勤勉尽责和诚实信用原则，对本法律意 ...

Core Insights - The stock price of Kolyuan increased by 2.01% on September 30, reaching 6.61 CNY per share, with a total market capitalization of 11.01 billion CNY [1] - Kolyuan's stock has risen 60.05% year-to-date, with recent increases of 6.27% over the last five trading days, 8.72% over the last twenty days, and 13.77% over the last sixty days [1] Company Overview - Hunan Kolyuan New Energy Co., Ltd. was established on January 24, 1998, and listed on September 18, 2003, focusing on battery and material businesses, particularly nickel-hydride batteries [2] - The company aims to secure the supply of power batteries and materials while expanding into the rail transportation power market and maintaining sales in consumer batteries [2] - Revenue composition includes: power batteries and electrode sheets (30.14%), consumer batteries (29.76%), nickel products (13.66%), trading income (9.26%), lithium battery materials (7.00%), energy storage products (6.31%), and others (3.87%) [2] Financial Performance - For the first half of 2025, Kolyuan reported revenue of 1.822 billion CNY, a year-on-year increase of 23.21%, and a net profit attributable to shareholders of 51.2187 million CNY, up 187.23% year-on-year [2] - Cumulatively, the company has distributed 89.3244 million CNY in dividends since its A-share listing, with 24.9831 million CNY distributed in the last three years [3] Shareholder Information - As of June 30, 2025, Kolyuan had 103,300 shareholders, an increase of 31.16% from the previous period, with an average of 16,117 circulating shares per shareholder, down 23.76% [2] - Notably, Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3]

Core Insights - On September 29, Keli Yuan executed a block trade of 1 million shares, amounting to 5.85 million yuan, which represented 1.51% of the total trading volume for the day. The transaction price was 5.85 yuan, reflecting a discount of 9.72% compared to the market closing price of 6.48 yuan [1]. Group 1 - The block trade involved 1 million shares of Keli Yuan [1]. - The total transaction value was 5.85 million yuan [1]. - The transaction price was 5.85 yuan, which is a 9.72% discount from the market closing price of 6.48 yuan [1]. Group 2 - The trade was facilitated by CITIC Securities Co., Ltd., specifically the Beijing Shouti South Road branch [2]. - The trading date for the transaction was September 29, 2025 [2]. - The stock code for Keli Yuan is 600478 [2].

2025 年第四次临时股东会会议资料 湖南科力远新能源股份有限公司 2025 年第四次临时股东会会议资料 二〇二五年十月 1 2025 年第四次临时股东会会议资料 会议文件之一 湖南科力远新能源股份有限公司 2025 年第四次临时股东会 会 议 议 程 一、会议时间：2025 年 10 月 9 日（星期四）下午 14:00 二、会议地点：湖南省长沙高新技术开发区桐梓坡西路 348 号湖南科霸 2 楼 会议室 三、会议议程： （一）介绍来宾和股东出席情况 （二）选举计票人、监票人 （三）审议议案： | 序号 | 议案名称 | 投票股东类型 | | --- | --- | --- | | | | A 股股东 | | 非累积投票议案 | | | | 1 | 关于拟注册发行中期票据的议案 | √ | | 2 | 关于为公司发行中期票据提供反担保暨关联交 | √ | | 易的议案 | | | 八、律师宣读法律意见书 九、在形成股东会决议上签字 十、会议结束 十一、股东及媒体交流 2 2025 年第四次临时股东会会议资料 四、与会股东及股东代理人讨论并审议股东会议案 五、对各项议案进行投票表决 六、对投票表决单进行统计 ...

Core Viewpoint - Company Kolyuan (600478.SH) is actively constructing or planning to build independent energy storage power stations with a total capacity of no less than 4GWh, which will gradually be released in Q3 and Q4 [1] Group 1: Project Details - The company has eight independent energy storage projects, including a total of 600MW/2200MWh in Hebei Province, 200MW/400MWh in Shandong Province, 300MW/1200MWh in Inner Mongolia, and 100MW/200MWh in Guangdong Province [1] - In addition to the main projects, the company has over thirty reserve projects across various energy storage application scenarios, totaling more than 15GWh, with over 6GWh already meeting investment conditions [1] Group 2: Strategic Evaluation - The company will dynamically assess the energy structure, relevant policies, and economic viability of different regions to timely convert reserve projects into active projects [1]

Core Insights - Baoding Kerry No.1 Energy Storage Technology Co., Ltd. has been established, focusing on energy storage technology services and solar power generation technology services [1] - The company is primarily owned by Kaibo (Shenzhen) Advanced Energy Storage Innovation Industry Private Equity Investment Fund Partnership (Limited Partnership), which holds 95% of the shares [1] - The fund is jointly held by Zhongchuang Xinhang and Keli Yuan, indicating a collaborative investment approach in the energy sector [1] Company Overview - The legal representative of Baoding Kerry No.1 is Ye Quan, highlighting the leadership structure [1] - The company's business scope includes battery manufacturing, battery sales, centralized fast charging stations, and photovoltaic equipment leasing, indicating a diverse portfolio in the energy sector [1] Investment Implications - The establishment of this company reflects growing interest and investment in energy storage and renewable energy technologies, which may present potential opportunities for investors [1] - The involvement of established entities like Zhongchuang Xinhang and Keli Yuan in the ownership structure suggests a strong backing and potential for growth in the energy storage market [1]

Core Viewpoint - Hunan Keli Yuan New Energy Co., Ltd. has signed a strategic cooperation agreement with Indonesian company PTBATTERY BANK INDONESIA to promote electric mobility and green energy transition in Indonesia through battery swapping services [1] Group 1: Strategic Cooperation - The cooperation will cover small power battery production and export, as well as battery swapping operations, establishing a complete small power battery industry chain in Southeast Asia [1] - The partnership plans to incorporate blockchain technology for digital management of battery assets in the Indonesian market [1] Group 2: Market Potential - Indonesia has over 130 million fuel motorcycles, making it a significant market for electric two-wheelers due to the government's "oil-to-electric" policy aiming to convert 1.8 million fuel motorcycles to electric by 2025 [1] - The government plans to stop selling fuel two-wheelers entirely by 2040, highlighting Indonesia's potential as a blue ocean market for small power batteries [1] Group 3: Challenges and Solutions - The current electric power limitations (around 1000 watts) and traditional slow charging methods hinder the adoption of electric motorcycles, creating a gap between energy supply and daily travel needs [2] - The company aims to address this by reducing the battery replacement time to 3 minutes, significantly lowering daily energy costs for riders by approximately 40% compared to fuel vehicles [2] Group 4: Economic and Social Impact - The collaboration is expected to generate positive economic and social benefits, serving as a model for sustainable business practices in the industry [2] - The initiative may provide a reference for other developing countries exploring similar energy transition policies [2]