Group 1 - The company Shanshan Co., Ltd. (SH 600884) announced that 29.58 million restricted shares will be unlocked and listed for trading on November 27, 2025, accounting for 1.32% of the total share capital [1] - For the fiscal year 2024, the revenue composition of Shanshan Co., Ltd. is as follows: polarizers account for 55.26%, anode materials account for 43.88%, and other businesses account for 0.86% [1] - As of the report date, the market capitalization of Shanshan Co., Ltd. is 27.5 billion yuan [1]

证券代码：600884 证券简称：杉杉股份 公告编号：临2025-083 宁波杉杉股份有限公司 关于向特定对象发行股票部分限售股上市流通的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为非公开发行股份；股票认购方式为网下，上市股数为 29,580,000股。 本次股票上市流通总数为29,580,000股。 本次股票上市流通日期为2025 年 11 月 27 日。 一、本次限售股上市类型、取得及变动的基本情况 根据中国证券监督管理委员会于 2021 年 11 月 9 日出具的《关于核准宁波杉 杉股份有限公司非公开发行股票的批复》（证监许可[2021]3560 号），宁波杉杉 股份有限公司（下称"公司"或"杉杉股份"）向 3 名特定对象杉杉集团有限公 司、宁波朋泽贸易有限公司和宁波市鄞州捷伦投资有限公司（下称"鄞州捷伦"） 以非公开方式发行人民币普通股 488,402,766 股（其中鄞州捷伦认购数量为 77,873,254 股），并于 2021 年 12 月 31 日在中国证券登记结算 ...

中天国富证券有限公司关于宁波杉杉股份有限公司 经中国证券监督管理委员会（以下简称"中国证监会"）于 2021 年 11 月 9 日出具的《关于核准宁波杉杉股份有限公司非公开发行股票的批复》（证监许可 [2021]3560 号）核准，杉杉股份向杉杉集团有限公司、宁波朋泽贸易有限公司和 宁波市鄞州捷伦投资有限公司（以下简称"鄞州捷伦"）3 名特定对象以非公开 方式发行人民币普通股488,402,766股（其中鄞州捷伦认购数量为77,873,254股）， 并于 2021 年 12 月 31 日在中国证券登记结算有限责任公司上海分公司办理完毕 本次发行新增股份的登记手续。上述股份均为非公开发行 A 股限售股股票，限 售期为 36 个月。 上述非公开发行限售股形成后至本核查意见出具日，上市公司未发生因配 股、公积金转增股本等致使上述非公开发行股份数量发生变化的情形。另因鄞州 捷伦所持有的 48,293,254 股限售股股票，于 2025 年 2 月被司法划转至上海海毅 供应链管理有限公司名下，并已于 2025 年 10 月 31 日起上市流通，故截至目前 本次非公开发行剩余限售股数量为 440,109,512 股。 浙 ...

Core Points - The company Shanshan Co., Ltd. announced that a total of 29,580,000 restricted shares will be released for circulation, accounting for 1.32% of the company's total share capital [1] - The release date for these shares is set for November 27, 2025 [1] - The restricted shares being unlocked were acquired by Wei Wei through judicial auction and are part of a non-public offering [1] - Following the release of these shares, the number of shares with limited circulation conditions will decrease to 414,303,117, while the number of shares with no circulation restrictions will increase to 1,835,109,746 [1] - There are no non-operating fund occupations or illegal guarantees associated with the shareholders involved in this release, and the sponsor institution has no objections to this matter [1]

Core Viewpoint - The stock of Ningbo Shanshan Co., Ltd. has experienced a decline of 2.01% on November 20, 2023, despite a year-to-date increase of 76.24% [1][2] Company Performance - As of September 30, 2025, Shanshan Co. achieved a revenue of 14.809 billion yuan, representing a year-on-year growth of 11.48%, and a net profit attributable to shareholders of 284 million yuan, showing a significant increase of 1121.72% [2] - The company has cumulatively distributed 3.079 billion yuan in dividends since its A-share listing, with 1.109 billion yuan distributed in the last three years [3] Stock Market Activity - The stock price as of November 20, 2023, is 13.13 yuan per share, with a total market capitalization of 29.535 billion yuan [1] - The stock has seen a net outflow of 71.51 million yuan in major funds, with large orders showing a buy of 1.8 billion yuan and a sell of 2.17 billion yuan [1] Shareholder Information - As of September 30, 2025, the number of shareholders increased by 19.08% to 179,200, while the average circulating shares per person decreased by 16.02% to 9,804 shares [2] - Major shareholders include Hong Kong Central Clearing Limited and Southern CSI 500 ETF, with the former reducing its holdings by 2.7619 million shares [3]

Group 1: Industry Overview - The lithium battery anode material industry showed a positive growth trend in the first three quarters of 2025, with most listed companies reporting significant revenue increases, except for Shanhe Intelligent, which experienced a decline [2][5] - The fastest revenue growth among listed companies was recorded by Shangtai Technology, with a year-on-year increase of 52.09% [2][5] - The overall net profit of the lithium battery anode industry increased significantly, with over half of the listed companies turning from negative to positive net profit, except for Xiangfenghua, which saw a decline [5][6] Group 2: Company Performance Beiterui - Beiterui achieved a revenue of 123.8 billion yuan in the first three quarters of 2025, a year-on-year increase of 20.6%, with a net profit of 7.68 billion yuan, up 14.37% [12][13] - The gross margin decreased by 0.59 percentage points, while the net margin increased by 1.2 percentage points [12][13] Singshan Co., Ltd. - Singshan reported a revenue of 148.1 billion yuan, a year-on-year increase of 11.48%, and a net profit of 2.84 billion yuan, up 1121.72% [15][16] - Both gross and net margins improved, with gross margin rising by 1.42 percentage points and net margin by 1.83 percentage points [15][16] Putailai (Zicheng Technology) - Putailai achieved a revenue of 108.3 billion yuan, a year-on-year increase of 10.06%, and a net profit of 17 billion yuan, up 37.25% [20][21] - The gross margin increased by 3.36 percentage points, and the net margin rose by 2.59 percentage points [20][21] Zhongke Electric (Zhongke Xingcheng) - Zhongke Electric reported a revenue of 59.04 billion yuan, a year-on-year increase of 52.03%, and a net profit of 4.02 billion yuan, up 118.85% [24][25] - The gross margin decreased by 0.93 percentage points, while the net margin increased by 2.12 percentage points [24][25] Shangtai Technology - Shangtai Technology achieved a revenue of 55.06 billion yuan, a year-on-year increase of 52.09%, and a net profit of 7.11 billion yuan, up 23.08% [28][29] - Both gross and net margins showed a downward trend, with gross margin decreasing by 2.73 percentage points and net margin by 3.04 percentage points [28][29] Xiangfenghua - Xiangfenghua reported a revenue of 11.31 billion yuan, a year-on-year increase of 8.16%, but a net profit decline of 64.64%, amounting to 0.2 billion yuan [33][34] - Both gross and net margins decreased, with gross margin down by 7.38 percentage points and net margin down by 3.62 percentage points [33][34] Yicheng New Energy - Yicheng New Energy achieved a revenue of 30.10 billion yuan, a year-on-year increase of 12.79%, but reported a net loss of 2.65 billion yuan, although this was a 55.2% improvement from the previous year [36][37] - Both gross and net margins improved, with gross margin up by 1.71 percentage points and net margin up by 16.1 percentage points [36][37] Suotong Development - Suotong Development reported a revenue of 127.6 billion yuan, a year-on-year increase of 28.66%, and a net profit of 6.54 billion yuan, up 201.81% [39][40] - Both gross and net margins increased, with gross margin up by 4.84 percentage points and net margin up by 3.49 percentage points [39][40] Shanhe Intelligent - Shanhe Intelligent achieved a revenue of 50.57 billion yuan, a year-on-year decrease of 2.08%, but a significant net profit increase of 177.57%, amounting to 0.97 billion yuan [41][42] - The gross margin decreased by 0.41 percentage points, while the net margin increased by 1.09 percentage points [41][42] Guomin Technology - Guomin Technology reported a revenue of 9.58 billion yuan, a year-on-year increase of 16.73%, but a net loss of 0.74 billion yuan, although this represented a 50.63% reduction in losses [44][45] - Both gross and net margins improved, with gross margin up by 0.03 percentage points and net margin up by 12.32 percentage points [44][45]

Group 1 - The core viewpoint of the news highlights the significant achievements of Shanshan Co., Ltd. in the polarizer film industry, including its recognition as a national manufacturing champion and the establishment of national testing standards for polarizer films [1][2] - Shanjin Optoelectronics (Nanjing) Co., Ltd. has been included in the Ministry of Industry and Information Technology's list of national manufacturing single champion enterprises, showcasing its excellence and competitiveness in the polarizer film sector [1] - The newly released national standards for polarizer film testing fill a gap in domestic performance testing standards, providing authoritative guidelines for product quality and promoting technological independence in the industry [1][3] Group 2 - The company has achieved a breakthrough in the new display field, acquiring LG Chem's OLED polarizer and automotive LCD polarizer business, which has significantly enhanced its patent portfolio and supply capabilities [2] - As of the first half of 2025, the company's global market share for OLED TV polarizers has exceeded 50%, and it has successfully entered the supply chains of major global automotive manufacturers [2] - The continuous improvement of production capacity and the establishment of a multi-base collaborative production network have laid a solid foundation for the steady growth of the company's polarizer business [2][3] Group 3 - The company's polarizer business has seen a significant increase in the shipment of high-value-added products, driven by domestic material substitution and economies of scale, leading to enhanced profitability [3] - Long-term partnerships with global clients such as LG Display, Sharp, and Huike have created a stable and collaborative industry chain ecosystem [3] - The demand for polarizers is expected to maintain steady growth due to the expansion of domestic panel manufacturers and the rapid penetration of emerging applications such as OLED, automotive displays, and VR [3]

Core Viewpoint - The stock of Ningbo Shanshan Co., Ltd. has shown significant growth this year, with an 80.81% increase in share price, reflecting strong market interest and performance in the lithium battery materials sector [1][2]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 14.809 billion yuan, representing a year-on-year growth of 11.48%. The net profit attributable to shareholders was 284 million yuan, a remarkable increase of 1121.72% compared to the previous year [2]. - The company has distributed a total of 3.079 billion yuan in dividends since its A-share listing, with 1.109 billion yuan distributed over the last three years [3]. Stock Market Activity - As of November 11, the stock price was 13.47 yuan per share, with a trading volume of 4.65 billion yuan and a turnover rate of 1.93%. The total market capitalization reached 30.3 billion yuan [1]. - The stock has appeared on the "龙虎榜" (a list of stocks with significant trading activity) three times this year, with the most recent appearance on November 4, where it recorded a net purchase of 46.2979 million yuan [1]. Shareholder Information - As of September 30, 2025, the number of shareholders increased by 19.08% to 179,200, while the average number of tradable shares per shareholder decreased by 16.02% to 9,804 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 30.6007 million shares, a decrease of 2.7619 million shares from the previous period [3].

Core Viewpoint - The 2025 (15th) High-tech Lithium Battery Annual Conference will be held from November 18 to 20 in Shenzhen, focusing on the lithium battery industry's new journey and attracting over 1,500 executives from more than 1,000 companies in the lithium battery supply chain [3][4]. Event Details - The conference will last for three days and feature 12 specialized forums [3]. - The latest agenda and participation strategies are available for attendees [4]. - A list of confirmed attendees includes over 100 leaders from various equipment and battery companies, such as Ningde Times and Yiwei Lithium Energy [4][5]. Keynote Speakers - Notable speakers include: - Zeng Yuqun, Chairman of Ningde Times - Liu Jincheng, Chairman of Yiwei Lithium Energy - Wang Mingwang, Founder of Xinwanda - Feng Xiao, Chairman of Xingheng Power [5][6]. Sponsorship and Support - Major sponsors include Hai Moxing Laser, Dazhu Lithium Battery, and Karol Weide, among others [6]. - Various companies will also present at the conference, showcasing their latest innovations and developments [7]. Awards and Recognition - The conference will feature the announcement of the High-tech Golden Ball Awards, with several companies already listed for recognition, including Yiwei Lithium Energy and Xinwanda [7][8]. - The awards will highlight achievements in the lithium battery sector, with ongoing updates on nominees [8].

Group 1 - The core point of the article is that Ningbo Shanshan Co., Ltd. has faced a setback in its restructuring process as the draft restructuring plan was not approved by the creditors' meeting, leading to the termination of the restructuring investment agreement with its controlling shareholder, Shanshan Group, and its wholly-owned subsidiary, Pengze Trading [1][3] - Shanshan Group and Pengze Trading hold a combined 23.37% stake in Shanshan Co., with a significant portion of these shares being pledged, judicially frozen, or marked for pending freezing [3] - The uncertainty surrounding the successful restructuring of Shanshan Group and Pengze Trading may lead to adjustments in shareholder equity, potentially affecting the control of the company [3] Group 2 - Shanshan Co. specializes in lithium battery anode materials and polarizers, including the R&D, production, and sales of LCD and OLED polarizers [3] - In the first half of 2025, Shanshan Co. achieved a revenue of 9.858 billion yuan, representing a year-on-year growth of 11.78%, and a net profit attributable to shareholders of 207 million yuan, reflecting a remarkable year-on-year increase of 1,079.59% [3] - In September, TCL Technology announced plans to invest up to 500 million yuan to acquire 43.709 million shares of Shanshan Co., which would represent 1.94% of the total share capital, with voting rights to be entrusted to an investment platform [3]