Core Viewpoint - Wanli Co., Ltd. has shown a significant increase in stock price and trading activity, indicating positive market sentiment despite a decline in revenue and profit for the year [1][2]. Group 1: Stock Performance - As of November 13, Wanli's stock price increased by 2.08% to 13.25 CNY per share, with a total market capitalization of 2.031 billion CNY [1]. - The stock has risen 63.58% year-to-date, with a 2.71% increase over the last five trading days, 17.36% over the last 20 days, and 13.15% over the last 60 days [1]. - The company has seen a net inflow of 56.56 thousand CNY from main funds, with significant buying and selling activity from large orders [1]. Group 2: Financial Performance - For the period from January to September 2025, Wanli reported a revenue of 359 million CNY, a year-on-year decrease of 5.74%, and a net profit attributable to shareholders of -33.16 million CNY, down 32.86% year-on-year [2]. - The company has not distributed any dividends in the last three years, with a total payout of 15.5 million CNY since its A-share listing [3]. Group 3: Company Overview - Wanli Co., Ltd. is located in Jiangjin District, Chongqing, and was established on July 18, 1992, with its shares listed on March 24, 1994 [1]. - The company's main business involves the research, production, and sales of lead-acid batteries, which account for 99.03% of its revenue [1].

Group 1 - The core viewpoint of the news is that Wanli Co., Ltd. has experienced a decline in stock price and financial performance, despite a significant increase in stock price year-to-date [1][2] - As of November 12, Wanli's stock price was 12.90 CNY per share, with a market capitalization of 1.977 billion CNY and a trading volume of 20.55 million CNY [1] - Year-to-date, Wanli's stock price has increased by 59.26%, with a 2.22% increase over the last five trading days and a 13.16% increase over the last 20 days [1] Group 2 - For the period from January to September 2025, Wanli reported operating revenue of 359 million CNY, a year-on-year decrease of 5.74%, and a net profit attributable to shareholders of -33.16 million CNY, a year-on-year decrease of 32.86% [2] - The company has a total of 11,600 shareholders as of September 30, which is an increase of 6.19% from the previous period, while the average circulating shares per person decreased by 5.83% to 13,215 shares [2] Group 3 - Since its A-share listing, Wanli has distributed a total of 15.5 million CNY in dividends, with no dividends distributed in the last three years [3]

要约收购 申万宏源证券承销保荐有限责任公司 关于 北京至创天地科技发展有限公司 重庆万里新能源股份有限公司 之 财务顾问 二〇二五年十一月 申万宏源证券承销保荐有限责任公司（以下简称"申万宏源承销保荐"或"本 财务顾问"）接受北京至创天地科技发展有限公司（以下简称"至创天地"或"收 购人"）的委托，担任其要约收购重庆万里新能源股份有限公司（以下简称"万 里股份"或"上市公司"）的财务顾问。根据《上市公司收购管理办法》规定， 本次要约收购的持续督导期从公告要约收购报告书至要约收购完成后的 12 个月 止（即 2024 年 8 月 2 日至 2025 年 9 月 13 日）。 2025 年第三季度持续督导意见暨持续督导总结报告 2025 年 10 月 30 日，上市公司披露了 2025 年第三季度报告。根据相关法律 法规规定，本财务顾问就 2025 年 7 月 1 日至 2025 年 9 月 13 日（以下简称"本 持续督导期"）内万里股份的规范运作、信息披露、履行公开承诺、落实后续计 划等情况报告如下： 一、要约收购履行情况 2024 年 8 月 2 日，万里股份公告了《重庆万里新能源股份有限公司要约收 购报告 ...

Core Points - The shares being judicially disposed of are 10,072,158 unrestricted circulating shares held by Shenzhen Nanfang Tongzheng Investment Co., Ltd., a shareholder with over 5% stake in Chongqing Wanli New Energy Co., Ltd., accounting for 6.57% of the company's total share capital [2][4] - The judicial disposal will not lead to a change in control of the company, as Nanfang Tongzheng is neither the controlling shareholder nor the actual controller [2][4] - The shares have been successfully auctioned at a price of 14.25 RMB per share, totaling approximately 143.53 million RMB [3] Summary by Sections Judicial Disposal Progress - The shares have been fully auctioned, with the buyer being Jia Tianxia Asset Management Co., Ltd., and the total transaction amount is 143,528,251.5 RMB [3][5] Impact on the Company - If the share transfer is completed, Nanfang Tongzheng will no longer hold any shares in the company, but this will not affect the company's operational management or governance structure [4][5] - The buyer is restricted from selling the acquired shares within six months following the transfer, as per the regulations governing share transfers [4] Additional Information - Nanfang Tongzheng has pledged all its shares to the parent company, Jia Tianxia, which has committed to ensuring the recovery of any losses incurred by the company if Nanfang Tongzheng fails to fulfill its obligations [5]

Core Viewpoint - The recent acquisition of approximately 10.07 million shares of Wanli Co., representing about 6.57% of the total share capital, by the controlling shareholder Jiatiantian Asset Management Co., at a price of 14.25 yuan per share, signifies a major adjustment in the company's equity structure and injects new momentum for future development [1][2] Group 1 - Jiatiantian's purchase of shares was executed at a total price of approximately 144 million yuan, indicating a strategic move to enhance decision-making efficiency and governance levels within the company [1][2] - The shares acquired were previously held by Shenzhen Nanfang Tongzheng Investment Co., which no longer holds any shares in the company following the judicial disposal [1] - The acquisition resolves historical issues between the company and Nanfang Tongzheng, laying a solid foundation for the company's long-term development [2] Group 2 - The company has indicated that while the shares have been successfully auctioned, there are still subsequent steps involving payment and share transfer that introduce a degree of uncertainty regarding the final outcome [1] - Jiatiantian has committed to ensuring the recovery of any losses incurred by the company in case of default by Nanfang Tongzheng or its actual controller [1]

Core Viewpoint - Wanli Co., Ltd. is a domestic leader in the lead-acid battery sector, focusing on research, production, and sales, but faces significant challenges in revenue and profitability compared to industry leaders [1][2]. Group 1: Business Performance - In Q3 2025, Wanli's revenue was 359 million, ranking 10th among 10 companies in the industry, significantly lower than the top competitor, Tianneng, at 33.402 billion [2]. - The main business, lead-acid battery sales, generated 241 million, accounting for 99.03% of total revenue, while other business segments contributed only 2.36 million [2]. - The net profit for the same period was -33.1573 million, placing the company 9th in the industry, far behind Tianneng's 1.386 billion [2]. Group 2: Financial Ratios - As of Q3 2025, Wanli's debt-to-asset ratio was 8.84%, an increase from 7.11% year-on-year, which is significantly lower than the industry average of 38.83%, indicating strong debt repayment capability [3]. - The gross profit margin for Q3 2025 was 4.17%, down from 5.85% year-on-year, and below the industry average of 17.75%, suggesting a need for improvement in profitability [3]. Group 3: Management and Shareholder Information - The controlling shareholder is Jiatiansha Asset Management Co., Ltd., with Mo Tianquan as the actual controller and chairman, who has a rich industry background [4]. - As of September 30, 2025, the number of A-share shareholders increased by 6.19% to 11,600, while the average number of shares held per account decreased by 5.83% to 13,200 [5].

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个别及连带责任。 重庆万里新能源股份有限公司（以下简称"公司"）第十一届董事会第八次 会议于 2025 年 10 月 30 日以现场结合通讯方式召开，会议通知以电子邮件方式 发出。应参加会议董事 6 名，实际参加会议董事 6 名，会议的召开符合《公司法》 和《公司章程》的有关规定，经与会董事认真审议，通过了以下议案： 一、关于 2025 年第三季度报告的议案 具体内容详见同日在上海证券交易所网站（www.sse.com.cn）披露的《万里 股份 2025 年第三季度报告》 股票代码：600847 股票简称：万里股份 公告编号：2025-038 重庆万里新能源股份有限公司 第十一届董事会第八次会议决议公告 本议案已经公司董事会审计委员会审核通过。 表决结果：同意 6 票，反对 0 票，弃权 0 票，表决通过。 特此公告。 重庆万里新能源股份有限公司 董 事 会 2025 年 10 月 30 日 ...

Financial Performance - The company's operating revenue for the third quarter was CNY 115,769,505.96, representing a year-on-year increase of 2.95%[4] - The total profit for the quarter was a loss of CNY 14,475,205.68, with a year-to-date loss of CNY 33,157,283.04[4] - The net profit attributable to shareholders for the quarter was also a loss of CNY 14,475,205.68, with a year-to-date loss of CNY 33,157,283.04[4] - The basic and diluted earnings per share for the quarter were both CNY -0.09, with year-to-date figures of CNY -0.22[4] - Total operating revenue for the first three quarters of 2025 was CNY 358,747,119.81, a decrease of 5.4% compared to CNY 380,577,295.71 in the same period of 2024[25] - Net profit for the first three quarters of 2025 was a loss of CNY 33,157,283.04, compared to a loss of CNY 24,957,494.52 in 2024, indicating a worsening performance[26] - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY -0.22, compared to CNY -0.16 in the same period of 2024[27] Cash Flow - The cash flow from operating activities for the quarter was CNY 3,465,274.31, while the year-to-date cash flow was a negative CNY 41,225,896.87[4] - The cash flow decline was primarily due to a decrease in collection amounts resulting from lower sales revenue[9] - Cash inflow from operating activities for the first three quarters of 2025 was CNY 340,534,810.26, a decrease from CNY 377,937,466.05 in 2024[28] - The net cash flow from operating activities was -$41,225,896.87, a decrease compared to -$10,691,394.06 from the previous period, indicating a worsening operational cash flow situation[29] - Total cash outflow from operating activities amounted to $381,760,707.13, slightly down from $388,628,860.11 in the prior period[29] - The ending cash and cash equivalents balance was $84,189,967.49, up from $51,513,415.04 in the previous period, reflecting a net increase in cash despite operational losses[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 564,390,767.42, down 8.99% from the end of the previous year[5] - The equity attributable to shareholders was CNY 514,472,361.62, a decrease of 6.05% from the previous year[5] - Total liabilities decreased to CNY 49,918,405.80 in 2025 from CNY 72,489,544.04 in 2024, indicating improved financial health[25] - The company’s total liabilities include accounts payable of 20,071,568.94 CNY as of September 30, 2025, down from 24,009,746.67 CNY[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 11,599[11] - The largest shareholder, Jia Tian Xia Asset Management Co., holds 17,708,110 shares, representing 11.55% of total shares[11] - The second largest shareholder, Shenzhen Southern Tongzheng Investment Co., holds 10,072,158 shares, representing 6.57% of total shares, and these shares are pledged[11] - The company has 10 major shareholders, with no changes in their participation in margin trading or securities lending[12] Legal and Arbitration Matters - The company is involved in a lawsuit regarding a share transfer dispute, with claims for compensation amounting to RMB 200 million and a penalty of RMB 300 million[12] - The company has initiated arbitration for investment loss compensation of RMB 127.11 million due to a previous investment in Terui Battery[15] - The arbitration ruling requires the respondents to pay the company RMB 127.11 million for investment losses and RMB 300,000 for legal fees[16] - The company received an execution payment of RMB 41,910,290.85 related to the arbitration case[17] - The company is currently in the process of executing the arbitration ruling, which is ongoing[13] Research and Development - The decline in net profit was attributed to a decrease in sales revenue and increased R&D expenses[9] - Research and development expenses increased significantly to CNY 4,861,774.83 in 2025 from CNY 838,720.23 in 2024, reflecting a focus on innovation[25] Financial Obligations - The company has recognized a total receivable of 191,392,940.94 CNY from Southern Tongzheng Company for loss compensation as of December 31, 2022, which includes losses of 155,567,888.90 CNY for 2018, 7,423,581.81 CNY for 2021, and 25,042,370.44 CNY for 2022[18] - The expected loss for the first half of 2023 is projected to be 13,402,758.66 CNY, with deferred interest receivable of 1,410,253.81 CNY[20] - The company has pledged all its shares (10,072,158 shares, accounting for 6.57% of total shares) to ensure Southern Tongzheng Company fulfills its obligations under the share transfer agreement[20] - The company has a deferred interest receivable of 2,820,507.62 CNY for both 2023 and 2024, indicating ongoing financial obligations[19] Asset Management - The company has terminated a major asset restructuring plan, leading to significant uncertainty regarding the timing of asset disposal and compensation for losses[19] - The company has reported a decrease in cash and cash equivalents from 90,054,323.43 CNY as of December 31, 2024, to 86,103,190.21 CNY as of September 30, 2025[22] - The company’s accounts receivable increased from 75,441,169.01 CNY as of December 31, 2024, to 82,829,168.69 CNY as of September 30, 2025[22] - The company’s fixed assets decreased from 149,132,803.76 CNY as of December 31, 2024, to 133,505,388.81 CNY as of September 30, 2025[23] - Cash paid for the acquisition of fixed assets was $4,635,527.20, significantly higher than $1,446,761.93 in the prior period, suggesting increased capital expenditures[29] Accounting Standards - The company will not apply new accounting standards starting from 2025, as indicated in the announcement[30]

重庆万里新能源股份有限公司 关于持股 5%以上股东股份被司法处置的进展公告 证券代码：600847 证券简称：万里股份 公告编号：2025-037 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个别及连带责任。 重要内容提示： ● 本次被司法处置的股份为重庆万里新能源股份有限公司（以下简称"公 司"）持股 5%以上股东深圳市南方同正投资有限公司（以下简称"南方同正"） 所持公司的 10,072,158 股无限售流通股，占其所持公司股份总数的 100%，占公 司总股本的 6.57%。 ● 南方同正不是公司控股股东或实际控制人，本次司法处置事项不会导致 公司控制权发生变更，亦不会对公司生产经营与治理结构产生重大不利影响。 ● 本次被司法处置的股份已全部竞买成交，后续尚涉及缴款、股权变更过 户等环节，其最终结果尚存在不确定性。公司将持续关注该事项的进展情况，依 法履行信息披露义务，敬请广大投资者注意投资风险。 公司于 2025 年 9 月 30 日披露了《万里股份关于持股 5%以上股东股份将被 司法处置的提示性公告》（公告编号：2025-03 ...

Group 1 - The A-share market's energy storage sector is experiencing significant growth, with notable stock price increases for several companies [1] - HaiBo SiChuang's stock rose over 13%, followed by AiLuo Energy with over 9%, and KeLu Electronics with over 7% [2] - The growth is driven by policy support and increasing global demand for grid stability equipment and AI-driven data center power supply systems [1] Group 2 - The battery industry, along with solar energy and electric vehicles, is a core component of China's industrial growth strategy [1] - The total market capitalization of HaiBo SiChuang is 50.6 billion, while AiLuo Energy stands at 12.2 billion [2] - Year-to-date, KeLu Electronics has seen a remarkable increase of 105.52% in its stock price [2]