证券代码：600869 股票简称：远东股份 编号：临 2026-005 远东智慧能源股份有限公司 关于 2025 年第一期员工持股计划进展的公告 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。 2026 年 1 月 17 日 远东智慧能源股份有限公司（以下简称"公司"）分别于 2025 年 6 月、2025 年 7 月 召开的第十届董事会第十九次会议、2025 年第二次临时股东会，审议通过了《关于<远东 智慧能源股份有限公司 2025 年第一期员工持股计划（草案）>及其摘要的议案》、《关于< 远东智慧能源股份有限公司 2025 年第一期员工持股计划管理办法>的议案》、《关于提请 股东会授权董事会办理公司 2025 年第一期员工持股计划有关事项的议案》等相关议案， 同意公司实施 2025 年第一期员工持股计划，并授权公司董事会办理员工持股计划的相关 事宜。具体内容详见公司 2025 年 6 月、7 月披露的《2025 年第一期员工持股计划管理办 法》、《2025 年第二次临时股东会决议公告》等相关公告。 根据《关于上市公司实施员 ...

Investment Rating - The report gives a "Buy" rating for the company, Far East Holdings (600869.SH) [5] Core Views - Far East Holdings has established itself as a global service provider in smart energy and smart city solutions, focusing on three main industries: smart cables, smart batteries, and smart airports [2][15] - The company is expected to achieve steady revenue growth driven by its core business in smart cables and the expansion into emerging markets [10][11] Summary by Relevant Sections Company Overview - Far East Holdings is a subsidiary of Far East Holding Group, focusing on smart cables, smart batteries, and smart airports, and has become a leader in the global smart energy and smart city service market [2][15] Smart Airport Business - The global airport infrastructure market is projected to grow from USD 77.85 billion in 2022 to USD 139.14 billion by 2030, with a CAGR of 7.5% [3] - The smart airport segment achieved revenue of CNY 1.267 billion in the first three quarters of 2025, a year-on-year increase of 15.75%, with net profit rising by 47.88% to CNY 111 million [3][68] Smart Cable Business - The smart cable segment generated revenue of CNY 17.826 billion in the first three quarters of 2025, reflecting a year-on-year growth of 9.59%, with net profit increasing by 8.69% to CNY 315 million [9][31] - The company has secured contracts worth CNY 177.64 billion, marking a 13.95% increase year-on-year [31] Smart Battery Business - The smart battery segment reported revenue of CNY 1.039 billion in the first three quarters of 2025, a significant year-on-year growth of 30.92%, although it still recorded a net loss of CNY 256 million [57] - The company has established a complete supply chain from cell technology to energy storage system integration, focusing on high-end industries and accelerating overseas expansion [57][60] Financial Forecasts - Revenue projections for 2025-2027 are CNY 296.49 billion, CNY 344.28 billion, and CNY 400.12 billion, with year-on-year growth rates of 13.6%, 16.1%, and 16.2% respectively [4][76] - The net profit for the same period is expected to be CNY 2.34 billion, CNY 6.57 billion, and CNY 10.72 billion, with growth rates of 173.6%, 180.7%, and 63.2% respectively [4][76] Valuation Analysis - The report indicates that the company's future PE ratios for 2025-2027 are 101x, 36x, and 22x, which are below the industry average, suggesting investment potential [4][78]

Market Size and Forecast - The global lithium battery copper foil sales are expected to reach 1.487 million tons by 2025, driven by the growth in demand for downstream power batteries and energy storage batteries, representing a year-on-year increase of 49.1%. By 2030, the global lithium battery copper foil market size is projected to reach 4.184 million tons [2]. Price Trends and Forecast - From 2021 to 2035, the global lithium battery copper foil prices are generally expected to decline, with significant volatility. In 2025, the average price is projected to rebound to approximately 96,000 yuan per ton. The price trend from 2026 to 2027 is anticipated to show an "initial increase followed by high-level fluctuations," before entering a downward cycle. The growth factors include: 1) Increased demand from power and energy storage batteries leading to a surge in copper foil usage; 2) Rising costs of raw materials like copper and processing fees; 3) Long expansion cycles in the copper foil industry resulting in insufficient new supply [4]. 2025 Top 10 Lithium Battery Copper Foil Suppliers in China - The top 10 companies in terms of lithium battery copper foil shipments in China for 2025 are: 1. Defu Technology 2. Longdian Huaxin 3. Jiayuan Technology 4. Nord Shares 5. Huachuang New Materials 6. Zhongyi Technology 7. Tongguan Copper Foil 8. Jiangxi Copper Technology 9. Jiangxi Copper Industry 10. Far East Shares [7][8].

Group 1 - The stock of Far East Holdings (600869) fell by 3.30% today, with a turnover rate of 16.49% and a trading volume of 4.034 billion yuan, showing a fluctuation of 17.75% [2] - The stock was listed on the Shanghai Stock Exchange due to its daily fluctuation value reaching 17.75%, with a net purchase of 37.5031 million yuan from the Shanghai-Hong Kong Stock Connect [2] - The top five trading departments accounted for a total transaction of 1.069 billion yuan, with a net purchase of 45.6513 million yuan [2] Group 2 - In the latest financing data, the margin balance of the stock was 709 million yuan, with a financing balance of 706 million yuan and a securities lending balance of 2.7191 million yuan [2] - Over the past five days, the financing balance increased by 266 million yuan, representing a growth of 60.54%, while the securities lending balance increased by 2.5449 million yuan, showing a significant rise of 1461.06% [2] Group 3 - For the first three quarters of 2025, the company reported a total operating income of 20.209 billion yuan, reflecting a year-on-year growth of 10.91%, and a net profit of 168 million yuan, which is a substantial increase of 268.86% [3] - The top buying departments included the Shanghai-Hong Kong Stock Connect with a purchase amount of 131.4935 million yuan, followed by UBS Securities and China International Capital Corporation with significant buy amounts [3][4]

Group 1 - The core point of the news is that Far East Holdings experienced a decline of 5.04% in its stock price, reaching 10.37 CNY per share, with a trading volume of 3.332 billion CNY and a turnover rate of 13.48%, resulting in a total market capitalization of 23.015 billion CNY [1] - Far East Smart Energy Co., Ltd. is located at No. 8, Science and Technology Avenue, Yixing, Jiangsu, and was established on January 25, 1995, with its listing date on February 6, 1995. The company's main business includes smart cable network products and services, smart airport/energy system services, smart automotive power and storage systems, and industrial internet [1] - The revenue composition of the main business is as follows: cable segment 88.95%, airport segment 5.79%, and battery segment 5.58% [1] Group 2 - From the perspective of the top ten holdings of funds, data shows that a fund under Shangyin Fund holds a significant position in Far East Holdings. Shangyin Advanced Manufacturing Mixed Initiation A (023158) held 58,000 shares in the third quarter, accounting for 3.66% of the fund's net value, ranking as the fifth-largest holding [2] - The estimated floating loss for the fund today is approximately 31,900 CNY [2] - Shangyin Advanced Manufacturing Mixed Initiation A (023158) was established on January 23, 2025, with a latest scale of 11.77 million CNY and a year-to-date return of 6.72%, ranking 830 out of 8827 in its category; since inception, the return is 7.49% [2]

Core Viewpoint - The A-share market has seen a surge in the controllable nuclear fusion concept sector, with significant stock price increases among related companies, driven by policy support and capital investment in the field [1][3]. Group 1: Market Performance - From January 5 to January 8, the controllable nuclear fusion index rose by 8.31%, with 68 out of 72 stocks in the sector experiencing price increases, representing 94.44% [1]. - Notable stocks with cumulative gains exceeding 20% include Tianli Composite (920576.BJ), Far East Holdings (600869.SH), Snowman Group (002639.SZ), and others [1]. - On January 9, the sector continued to rise, with stocks like Hongxun Technology (603015.SH) hitting the daily limit and several others increasing by over 5% [2]. Group 2: Company Announcements - Companies such as China First Heavy Industries (601106), Hongxun Technology, and others issued announcements regarding abnormal stock trading, indicating that their controllable nuclear fusion-related business has minimal impact on overall performance [3][4]. - China First Heavy Industries noted that its related products have not generated revenue, and its net profit for Q3 2025 is projected to be negative [3]. - Hongxun Technology clarified that its nuclear fusion classification is based on a subsidiary's component supply, which contributes little to its main revenue [3]. Group 3: Financial Metrics and Risks - Companies like Guoji Heavy Industries and China Nuclear Engineering reported that their controllable nuclear fusion business contributes a negligible portion to total revenue [4]. - Tianli Composite reported a cumulative price increase of 48.72% over three trading days, with no significant media influence identified [5]. - Valuation concerns were raised, with Hongxun Technology and Guoji Heavy Industries having price-to-earnings ratios significantly above industry averages, at 135.39 and 87.58 respectively, compared to the industry averages of 24.38 and 42.01 [5].

数据宝统计，截至09:48，远东股份成交额16.17亿元，创2015年8月11日以来新高。最新股价上涨 4.03%，换手率6.45%。上一交易日该股全天成交额为5.17亿元。（数据宝） （文章来源：证券时报网） ...

●公司最新滚动市盈率、市净率与同行业上市公司平均水平偏差较大。根据中证 指数有限公司官方网站发布的最新滚动市盈率（TTM）、市净率（更新日期：2026年1 月7日）显示，公司股票滚动市盈率为-431.44、市净率5.17，与电气机械和器材制造 业滚动市盈率24.38、市净率3.26偏差较大，股票交易价格存在较大波动。 ●公司股票自2026年1月5日、1月6日、1月7日连续3个交易日内日收盘价格涨幅 偏离值累计达20%，根据《上海证券交易所交易规则》的有关规定，属于股票价格异 常波动。2026年1月8日，公司股票再次涨停。鉴于近日公司二级市场股票价格短期涨 幅较大，可能存在市场情绪过热的情形，现对公司有关事项和风险说明如下，敬请广 大投资者理性决策，注意投资风险。 一、二级市场交易风险 证券代码：600869 股票简称：远东股份 编号：临 2026-004 远东智慧能源股份有限公司 股票交易风险提示公告 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： ●远东智慧能源股份有限公司（以下简称"公司"）股票价格短期涨幅 ...

Market Overview - The Shanghai Composite Index experienced a narrow fluctuation, achieving a 15-day consecutive rise, while the ChiNext Index fell nearly 1%. The trading volume reached 2.82 trillion yuan, with approximately 3,700 stocks in the Shanghai and Shenzhen markets showing gains [1]. Aerospace Sector - The aerospace sector saw a significant surge, with multiple stocks such as Shenjian Co., Luxin Investment, and Nanjing Panda hitting the daily limit. The catalyst for this rally was the commencement of construction for China's first offshore reusable rocket recovery base in Hangzhou [4][5]. - Elon Musk announced an ambitious goal for SpaceX to produce 10,000 Starship rockets annually, indicating strong growth potential in the aerospace industry [4]. - The sector recorded a 5% increase overall, with notable performances from companies like Shenjian Co. (+9.99%) and Luxin Investment (+9.99%) [5]. Nuclear Fusion Sector - The nuclear fusion concept continued to perform well, with stocks like Far East Holdings and Hongxun Technology achieving consecutive gains. A nuclear fusion energy technology and industry conference is scheduled for January 2026 in Hefei, aiming to promote innovation and collaboration within the industry [7][9]. - The sector is viewed as a strategic development direction for China, with ongoing construction of various fusion devices [9]. Brain Science Sector - The brain science sector remained active, with stocks such as Pulit, Nanjing Panda, and Innovation Medical continuing to hit the daily limit. The global market for brain-computer interface applications is projected to reach approximately $3.19 billion by 2025, with significant growth expected in the medical application market by 2030 and 2040 [10][12]. - In China, the brain-computer interface market is anticipated to exceed 3.8 billion yuan by 2025, growing at an annual rate of about 20% [13].

龙虎榜数据显示，该股因连续三个交易日内，涨幅偏离值累计达20%上榜龙虎榜1次，买卖居前营业部 中，沪股通累计净卖出1886.22万元，营业部席位合计净买入4061.68万元。（数据宝） 远东股份盘中涨停，已连收3个涨停板，截至9:44，该股报10.92元，换手率1.95%，成交量4321.99万 股，成交金额4.62亿元，涨停板封单金额为3.42亿元。连续涨停期间，该股累计上涨33.01%，累计换手 率为13.77%。最新A股总市值达242.35亿元。 证券时报·数据宝统计，两融数据来看，该股最新（1月7日）两融余额为6.56亿元，其中，融资余额6.53 亿元，较前一个交易日增加1.33亿元，环比增长25.67%，近3日累计增加2.26亿元，环比增长52.98%。 （文章来源：证券时报网） 近日该股表现 | 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2026.01.07 | 9.97 | 5.55 | 9616.47 | | 2026.01.06 | 9.99 | 6.27 | 22052.85 | | 2026.01 ...