证券代码：603026 证券简称：石大胜华 公告编号：临 2026-002 石大胜华新材料集团股份有限公司 关于确认公司 2025 年度与关联方之间关联交易及 2026 年度日常关联交易预计情况的公告 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个别及连带责任。 重要内容提示： 一、日常关联交易的基本情况 （一）日常关联交易履行的审议程序 2025 年 12 月 31 日公司召开的第八届董事会第二十六次会议审议通过了《关 于确认公司2025年度与关联方之间关联交易及2026年度日常关联交易预计情况 的议案》，董事会在审议表决时公司关联董事郭天明、于相金、于海明、姜伟波、 陈伟、李蓉蓉已回避表决，其他非关联董事一致表决通过。该议案尚需提交股东 会批准，关联股东青岛中石大控股有限公司、青岛军民融合发展集团有限公司、 青岛开发区投资建设集团有限公司、郭天明、山东惟普新材科技有限公司将回避 表决。 该议案经公司第八届董事会独立董事 2025 年第六次专门会议、公司第八届 董事会审计委员会第十二次会议审议通过，一致同意《关于确认公司 2025 ...

证券代码：603026 证券简称：石大胜华 公告编号：临 2026-001 石大胜华新材料集团股份有限公司 第八届董事会第二十六次会议决议公告 （三）本次董事会会议于 2025 年 12 月 31 日以现场加通讯表决方式在山东 省东营市垦利区同兴路 198 号石大胜华办公楼 A325 室召开。 （四）本次董事会应出席的董事 9 人，实际参与表决的董事 9 人。 （五）本次董事会会议由董事长郭天明先生主持。 二、董事会会议审议情况 （一）通过《关于确认公司 2025 年度与关联方之间关联交易及 2026 年度日 常关联交易预计情况的议案》。 确认公司2025年度与关联方之间的关联交易及2026年度日常关联交易预计 情况遵循了平等、自愿、等价、有偿的原则，符合中国证监会、上海证券交易所 及《公司章程》的相关规定；交易符合商业惯例，定价公允合理，遵循公平、公 正、公开的原则，不存在损害公司及其他股东合法利益的情形。 由于本议案涉及关联交易，关联董事郭天明、于相金、于海明、姜伟波、陈 伟、李蓉蓉回避表决。本议案尚需提交公司股东会审议。 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， ...

石大胜华新材料集团股份有限公司 2026 年第一次临时股东会 目 录 一、程序文件 1. 会议议程 2. 会议须知 二、提交股东会审议的议案 1、关于公司发行 H 股股票并在香港联合交易所有限公司上市的议案 2、关于公司发行 H 股股票并在香港联合交易所有限公司上市方案的议案 3、关于公司转为境外募集股份有限公司的议案 4、关于公司前次募集资金使用情况报告的议案 5、关于公司发行 H 股股票募集资金使用计划的议案 6、关于 H 股股票发行并上市决议有效期的议案 7、关于公司发行 H 股股票前滚存利润或未弥补亏损归属方案的议案 8、关于提请股东会授权董事会及其授权人士办理与公司发行 H 股股票并上市有关 事项的议案 9、关于独立董事辞任暨补选公司第八届董事会独立董事的议案 10、关于确定公司董事角色的议案 11、关于就公司发行 H 股股票并上市修订《石大胜华新材料集团股份有限公司章程 （草案，H 股上市后适用）》及相关议事规则的议案 12、关于制定及修订公司于 H 股发行上市后适用的内部治理制度的议案 13、关于公司聘请 H 股发行并上市的审计机构的议案 14、关于投保董事、高级管理人员及招股说明书责任保险的议 ...

Core Viewpoint - The lithium battery industry is entering a new growth cycle in 2025, with all segments experiencing price increases and improved supply-demand structures, leading to sustained industry prosperity [1]. Group 1: Price Trends and Supply-Demand Dynamics - The electrolyte industry is witnessing a slow expansion in production capacity from 2023 to 2024, with insufficient new capacity to meet the high demand expected in 2025, resulting in a tightening supply situation and price increases [3]. - The average price of lithium battery electrolyte for lithium iron phosphate applications rose from 19,000 yuan/ton at the beginning of 2025 to 35,000 yuan/ton by December, marking an increase of over 84% within the year [4]. - Core raw material hexafluorophosphate lithium saw its price surge from less than 50,000 yuan/ton at the beginning of the year to over 180,000 yuan/ton by December 25 [5]. Group 2: Order Trends and Capacity Expansion - 2025 is expected to be a "year of procurement" for battery companies, driven by the ongoing "chip shortage" and the need to secure electrolyte materials as a competitive advantage [7]. - Major battery manufacturers, including CATL and others, have collectively added over 500 GWh of new production capacity this year, which corresponds to a demand for approximately 650,000 to 800,000 tons of electrolyte [8]. - CATL signed a five-year supply contract with South Korean electrolyte manufacturer Enchem for a total of 350,000 tons of electrolyte, valued at over 7 billion yuan [11]. Group 3: Globalization and Market Positioning - The lithium battery electrolyte industry is experiencing a globalization trend, with companies shifting from product export to capacity and technology export, seeking international capital to support their global strategies [15]. - Three leading electrolyte companies have announced plans for IPOs in Hong Kong, aiming to enhance their global strategic layout and strengthen their competitive position in international markets [16]. - The top three electrolyte companies in China, including Tianqi Materials and Sinoma, have seen significant growth, with a 53.1% year-on-year increase in electrolyte shipments from January to September [16].

往 期 回 顾 12月23日，石大胜华发布公告称，公司于2025年12月23日召开第八届董事会第二十五次会议，审议通过了《关于公司发行H股股票并在香 港联合交易所有限公司上市的议案》《关于公司发行H股股票并在香港联合交易所有限公司上市方案的议案》等相关议案。 为深入推进全球化战略布局，打造国际化资本运作平台，提高综合竞争力，公司拟申请首次公开发行境外上市外资股(H股)并于香港联合交易 所有限公司 (以下简称"香港联交所")主板挂牌上市。公司将充分考虑现有股东利益及境内外资本市场情况，在股东会决议有效期内(即经公司 股东会审议通过之日起24个月或同意延长的其他期限)选择适当的时机和发行窗口完成本次发行并上市。 石大胜华表示，截至目前，公司正与相关中介机构就本次发行并上市的相关工作进行商讨，除本次董事会审议通过的相关议案外，其他关于本 次发行并上市的具体细节尚未最终确定。 公开资料显示，石大胜华致力于成为提供新能源材料最佳解决方案的世界一流企业。 业绩方面，公司归母净利润已连续三年下滑，由2021年 的11.78亿元降至2024年的1642万元。 | 01 | ｜ 扩展版图！亿纬锂能连投三大项目 | | | -- ...

Group 1 - The State Intellectual Property Office has granted a patent for a purification method of 1,2-propanediol from ester exchange to Shenghua New Energy Technology (Dongying) Co., Ltd. and Shida Shenghua New Materials Group Co., Ltd. The patent announcement number is CN116986970B, with an application date of July 2023 [1] - Shenghua New Energy Technology (Dongying) Co., Ltd. was established in 2006, located in Dongying City, primarily engaged in wholesale. The company has a registered capital of 1.25 billion RMB and has invested in 5 enterprises, participated in 72 bidding projects, and holds 301 patent records along with 79 administrative licenses [1] - Shida Shenghua New Materials Group Co., Ltd. was founded in 2002, also located in Dongying City, focusing on the manufacturing of chemical raw materials and products. The company has a registered capital of approximately 232.7 million RMB, has invested in 22 enterprises, participated in 11 bidding projects, and possesses 401 patent records along with 30 administrative licenses [1]

Core Viewpoint - The stock of Shida Shenghua has shown significant volatility and growth, with a year-to-date increase of 129.43% and a recent trading surge, indicating strong market interest and potential investment opportunities [1][2]. Group 1: Stock Performance - On December 26, Shida Shenghua's stock rose by 2.15%, reaching 80.30 CNY per share, with a trading volume of 667 million CNY and a turnover rate of 4.14%, resulting in a total market capitalization of 18.686 billion CNY [1]. - The stock has experienced a net inflow of 58.75 million CNY from major funds, with significant buying activity from large orders, indicating strong investor interest [1]. - Year-to-date, the stock has seen a 129.43% increase, with a 12.92% rise over the last five trading days, but a 13.14% decline over the last 20 days [1]. Group 2: Company Overview - Shida Shenghua New Materials Group Co., Ltd. was established on December 31, 2002, and went public on May 29, 2015, focusing on deep processing of basic organic chemical products, particularly in the carbonate product sector [2]. - The company's revenue composition includes 41.85% from dimethyl carbonate series, 25.70% from other products, 18.39% from MTBE series, 12.51% from trading products, and 1.09% from liquefied gas [2]. - As of September 30, 2025, Shida Shenghua reported a revenue of 4.635 billion CNY, reflecting an 11.41% year-on-year growth, but a net loss of 62.2018 million CNY, a decrease of 652.16% compared to the previous year [2]. Group 3: Shareholder Information - Since its A-share listing, Shida Shenghua has distributed a total of 636 million CNY in dividends, with 68.9112 million CNY distributed over the past three years [3]. - As of September 30, 2025, the number of shareholders increased by 12.68% to 42,000, while the average circulating shares per person decreased by 11.25% to 4,825 shares [2][3]. - Hong Kong Central Clearing Limited is the sixth-largest circulating shareholder, holding 3.3536 million shares as a new shareholder [3].

Core Viewpoint - The company Shida Shenghua is attempting to list H-shares in Hong Kong as a crucial self-rescue move amid a downturn in the lithium battery materials industry, characterized by declining performance and cash flow pressures [1][3]. Group 1: Company Background - Shida Shenghua, established in 2002 and listed on the Shanghai Stock Exchange in 2015, was a leading player in the domestic electrolyte industry, holding over 40% of the global high-end carbonate solvent market [3]. - The company has a strong customer base that includes major global electrolyte firms, positioning it as a "hidden champion" in the lithium battery upstream sector [3]. Group 2: Financial Performance - The company's revenue has significantly declined from 8.316 billion yuan in 2022 to 5.635 billion yuan in 2024, with net profit plummeting from 891 million yuan to 18.72 million yuan and further to 16.42 million yuan [3]. - In the first three quarters of 2025, the company reported a net loss of 62.2 million yuan, indicating ongoing financial struggles [3]. - Operating cash flow has been negative for 2023 and 2024, with net cash flows of -432 million yuan and -448 million yuan, respectively [3]. - Accounts receivable surged from 613 million yuan to 1.389 billion yuan, accounting for over 25% of revenue, highlighting issues with product sales and cash collection [3]. Group 3: Strategic Moves - The company has previously attempted to raise funds through a 4.5 billion yuan private placement in July 2022, which faced multiple inquiries from the Shanghai Stock Exchange, ultimately reducing the fundraising to 1.99 billion yuan for three core projects [5]. - The shift to the Hong Kong market is interpreted as a response to obstacles in the private placement process, seeking new financing channels and advancing global expansion [5]. - The effectiveness of the Hong Kong listing in reversing the company's declining trend remains uncertain, especially given the cyclical fluctuations and intensified competition in the lithium battery materials industry [5].

Core Viewpoint - The recent announcements by Shida Shenghua and Bertli to plan H-share issuance and listing on the Hong Kong Stock Exchange are part of a broader trend of high-quality A-share companies moving to Hong Kong since 2025, reflecting a wave of "southbound" listings [1][3]. Group 1: Market Trends - A significant number of A-share companies that have announced plans to list in Hong Kong are characterized as "bull stocks," with many experiencing price increases of over 100% or even several times their original value within the year [3][6]. - As of December 24, 2025, a record 177 A-share companies are planning to issue H-shares, with 69 of these companies having year-to-date price increases exceeding 50%, representing nearly 40% of the total [6][10]. Group 2: Company Performance - Notable examples of companies planning to list in Hong Kong include: - Zhongji Xuchuang, which has seen its stock price rise over 400% this year, with a market capitalization exceeding 700 billion yuan [3]. - Tianfu Communication, with a price increase of over 200% and a market cap surpassing 170 billion yuan [3]. - Shida Shenghua, benefiting from a surge in demand for new energy materials, has doubled its stock price, reaching a market cap of 18 billion yuan [3][4]. Group 3: Strategic Intentions - The move to list in Hong Kong is increasingly viewed as a key component of companies' global strategic layouts rather than merely a financing activity. For instance, CATL's H-share listing aims to enhance its global capital market integration and accelerate its international strategy [8]. - Bertli explicitly stated that its H-share listing is intended to deepen its international strategy, improve overseas production capacity, and enhance brand influence [8]. Group 4: Policy Support - The recent surge in A+H listings is supported by strong policy initiatives, including the China Securities Regulatory Commission's "Five Measures to Benefit Hong Kong," which encourages leading companies to list in Hong Kong [8].

Core Viewpoint - The company, Shida Shenghua, is advancing its globalization strategy by planning to issue shares and list on the Hong Kong Stock Exchange to enhance its international capital operation platform and overall competitiveness [1] Group 1: Company Overview - Shida Shenghua, established in 2002 and headquartered in Dongying, is a full-chain company under Shida Holdings that provides lithium-ion battery electrolyte solvents, solutes, and additives [3] - The company has a production capacity of 500,000 tons/year for electrolytes, 800,000 tons/year for electrolyte solvents, 100,000 tons/year for solutes, and 21,000 tons/year for additives [3] Group 2: Financial Performance - The company has faced significant financial pressure, with a sharp decline in profitability. From 2022 to 2024, revenues were 8.316 billion yuan, 5.635 billion yuan, and 5.547 billion yuan, reflecting year-on-year changes of -17.86%, -32.24%, and -1.56% respectively [3] - Net profit attributable to shareholders dropped from 891 million yuan in 2022 to 18.726 million yuan in 2023 and further to 16.42 million yuan in 2024, with declines of 24.43%, 97.9%, and 12.32% respectively [3] Group 3: Recent Developments - In the first three quarters of this year, the company reported its first loss, with revenues of 4.635 billion yuan, a year-on-year increase of 11.41%, but a net profit of -62.2018 million yuan, a decline of 652.16% [4] - The loss is attributed to intense market competition and a decrease in product prices, leading to increased market investment and R&D expenses [5] Group 4: Accounts Receivable - The company's accounts receivable have remained high, with year-end balances of 870 million yuan, 613 million yuan, and 1.389 billion yuan from 2022 to 2024, reaching 1.706 billion yuan by September 2025 [6] Group 5: Stock Performance - Shida Shenghua was listed on the Shanghai Stock Exchange in May 2015 at an issue price of 6.51 yuan per share, with a peak price of 348.88 yuan in September 2021, followed by a decline [6] - In September this year, the stock price surged due to interest in lithium battery electrolytes, reaching a high of 110.56 yuan on November 17, before experiencing a pullback, closing at 79.45 yuan on December 24 [6]