Core Viewpoint - The major shareholder, Xinjiang State Investment Company, plans to reduce its stake in Delixi New Energy Technology Co., Ltd. due to its own funding needs, intending to sell up to 2,335,146.80 shares, representing 1% of the total share capital [1][2]. Group 1: Shareholder Information - As of the announcement date, Xinjiang State Investment Company holds 14,817,568 shares, accounting for 6.35% of the total share capital of the company [1][2]. - Xinjiang State Investment Company is identified as a direct shareholder holding more than 5% of the shares, but it is not a controlling shareholder or a related party [2]. Group 2: Reduction Plan Details - The planned reduction will occur through centralized bidding within three months after the announcement, starting 15 trading days post-announcement [1][2]. - The maximum number of shares to be reduced is 2,335,146.80, which is 1% of the total share capital of 233,514,680 shares [2]. - The reduction price will be based on market conditions, and adjustments will be made if there are any corporate actions affecting share capital during the reduction period [1][2]. Group 3: Compliance and Commitments - Xinjiang State Investment Company has committed to notifying the company three trading days prior to any reduction, ensuring compliance with relevant regulations and commitments [2]. - The planned reduction aligns with previously disclosed commitments regarding shareholding and reduction practices [2].

证券代码：603032 证券简称：德新科技 公告编号：2025-047 德力西新能源科技股份有限公司 股东集中竞价减持股份计划公告 本公司董事会、全体董事及相关股东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： | 股东名称 | 新疆国投公司 | | | | --- | --- | --- | --- | | 股东身份 | 控股股东、实控人及一致行动人 | □是 | √否 | | | 直接持股 5%以上股东 | √是 | □否 | | | 董事、监事和高级管理人员 | □是 | √否 | | | 其他：不适用 | | | | 持股数量 | 14,817,568股 | | | | 持股比例 | 6.35％ | | | 一、减持主体的基本情况 1 | | | 上述减持主体无一致行动人。 二、减持计划的主要内容 | 股东名称 | 新疆国投公司 | | --- | --- | | 计划减持数量 | 不超过：2,335,146.80 股 | | 计划减持比例 | 不超过：1% | | 减持方式及对应减持数量 | 集中竞价减持，不超过：2,3 ...

Investment Rating - The transportation sector has shown a positive trend with a 3.2% increase in the transportation index, outperforming the Shanghai Composite Index by 1.5% during the week of July 19-25, 2025 [1][12]. Core Insights - The transportation sector's fund holdings increased to 32.5 billion yuan, a 17.0% rise compared to the previous quarter, with a market share of 1.95% [2]. - The express delivery segment saw a significant year-on-year growth of 15.8% in June, with SF Express leading the growth [2]. - The logistics sector is under pressure, particularly in hazardous materials logistics, but there is a push towards smart logistics, with Hai Chen Co. being recommended [3]. - The aviation sector is experiencing a steady recovery, with a 3% increase in domestic passenger volume in June compared to the previous year [4]. - The shipping sector is stabilizing, with the Baltic Dry Index (BDI) increasing by 10.9% week-on-week, indicating a positive trend in dry bulk shipping [5][34]. Summary by Sections Transportation Market Review - The transportation index rose by 3.2%, with the airport sector showing the highest increase of 5.6% [1][12]. Industry Fundamentals Tracking Shipping and Ports - The export container freight index (CCFI) was 1261.35 points, down 3.2% week-on-week and down 40.9% year-on-year [20]. - The domestic container freight index (PDCI) increased by 1.1% week-on-week, indicating a slight recovery in domestic shipping [28]. Aviation and Airports - The average daily flights reached 16,945, a 3.68% increase year-on-year, with domestic flights up by 2.51% [4]. - The introduction of a new ticket purchasing feature on the airline service platform is expected to enhance customer experience [4]. Rail and Road - National highway freight traffic increased by 0.67% week-on-week, with a year-on-year increase of 2.01% [6][76]. - The railway passenger volume in June was 373 million, a 3.61% increase year-on-year [73]. Express Delivery - The express delivery business volume reached 16.87 billion pieces in June, with a notable increase in the market share of SF Express [2][44].

Market Overview - A-shares opened higher on Tuesday but weakened briefly before rallying again, driven by "China's state-owned enterprises" in the infrastructure sector, with the Shanghai Composite Index closing at 3568.78 points, up 0.25% [1] - The Shenzhen Component Index and the ChiNext Index rose by 0.56% and 0.69%, respectively, with a total trading volume of 115.89 billion yuan, an increase of 56.3 billion yuan compared to the previous trading day [1] Sector Performance - Over 2400 stocks in the market rose, with the hydropower sector remaining active, as companies like Wuxin Tunnel Equipment, Jikang Technology, and Hengli Drilling achieved consecutive "30cm" limit-ups [3][5] - The steel sector continued to strengthen, with Liugang Co. achieving 10 limit-ups over 16 days [3] - The photovoltaic sector saw gains, with Yijing Photovoltaic hitting the limit-up [3] Individual Stock Highlights - Aowei New Materials opened 19.15% higher and reached a 20% limit-up, marking its tenth consecutive limit-up and setting a new record for A-shares [4][8] - The hydropower project on the Yarlung Tsangpo River has boosted the performance of several companies in the infrastructure supply chain, with significant contract amounts reported by China Power Construction [6][7] Solid-State Battery Sector - The solid-state battery concept saw active trading, with Xianhui Technology hitting a 20% limit-up, and other companies like Dexin Technology and Haopeng Technology also achieving limit-ups [11] - Companies are making progress in solid-state battery development, with Chang'an Automobile planning to validate solid-state batteries by 2026 and gradually mass-produce them by 2027 [15] - The market for solid-state batteries is expected to expand due to emerging applications in low-altitude and robotics, with production expected to accelerate [15]

[Core Performance Forecast](index=1&type=section&id=Item%201.%20Current%20Period%20Performance%20Forecast) The company anticipates turning losses into profits in the first half of 2025, with net profit attributable to owners of the parent company projected between RMB 20 million and RMB 25 million - The core of the company's current performance forecast is achieving a turnaround in net profit[2](index=2&type=chunk) - The statistical period for this performance forecast is from January 1, 2025, to June 30, 2025[3](index=3&type=chunk) Performance Indicators | Performance Indicator | Estimated Amount (RMB Million) | | :--- | :--- | | Net Profit Attributable to Owners of the Parent Company | 20.00 to 25.00 | | Net Profit Attributable to Owners of the Parent Company (Excluding Non-Recurring Items) | 18.00 to 22.00 | [Comparison with Prior Period Performance](index=2&type=section&id=Item%202.%20Prior%20Period%20Performance) The company's performance shows significant improvement compared to the prior year, notably achieving a turnaround in non-recurring net profit attributable to the parent company Performance Comparison | Performance Indicator | 2025 H1 (Estimated) | 2024 H1 (Actual) | Change | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Parent (Million Yuan) | 20.00 ~ 25.00 | 7.79 | Significant Growth | | Non-Recurring Net Profit Attributable to Parent (Million Yuan) | 18.00 ~ 22.00 | -14.36 | Turnaround to Profit | [Analysis of Performance Changes](index=2&type=section&id=Item%203.%20Primary%20Reasons%20for%20Turnaround) The company's turnaround in the first half of 2025 is primarily driven by the recovery of its precision manufacturing business and comprehensive operational improvements - The core driver for the turnaround in performance is the recovery of the company's precision manufacturing business[8](index=8&type=chunk) - The company implemented multiple measures to enhance performance: - **Internal Management**: Optimizing processes, improving operational efficiency, and reducing costs while increasing efficiency - **Market Strategy**: Increasing market research, precisely targeting customers, and actively expanding into emerging markets - **Production**: Optimizing production processes and improving raw material utilization - **Sales**: Adjusting product structure and formulating agile sales policies to enhance competitiveness - **Operations**: Strengthening supply chain management and human resource cost control[8](index=8&type=chunk) [Risk Warning](index=2&type=section&id=Item%204.%20Risk%20Warning) The company confirms no major uncertainties affecting the forecast's accuracy, but emphasizes that these unaudited preliminary figures are subject to the final 2025 semi-annual report - The company states that as of the announcement date, there are no significant uncertainties affecting the accuracy of this performance forecast[9](index=9&type=chunk) - This performance forecast data is unaudited by an accounting firm and is only preliminary, with the final results subject to the official semi-annual report[6](index=6&type=chunk)[9](index=9&type=chunk)

德新科技（603032）公告，公司预计2025年半年度实现归属于母公司所有者的净利润为2000万元到2500 万元，归属于母公司所有者的扣除非经常性损益的净利润为1800万元到2200万元。上年同期归属于母公 司所有者的净利润为778.56万元，归属于母公司所有者的扣除非经常性损益的净利润为-1436.13万元。 ...

Core Viewpoint - The report highlights the significant decline in the performance of Zhihong Precision in 2024, with a notable drop in revenue and profit, leading to a goodwill impairment of 164 million yuan, despite a recent improvement in order volume [1][2][3]. Company Performance - Zhihong Precision's goodwill from the acquisition amounted to 407 million yuan, but the company's revenue for 2024 was only 228.05 million yuan, achieving 70.24% of the forecasted revenue [1][6]. - The net profit for 2024 was 21 million yuan, which is only 18.92% of the predicted value [1]. - The company experienced a 54.94% year-on-year decline in order volume in the first quarter of 2024, although there was a significant recovery in April [1][2]. - The actual average selling price of molds decreased by approximately 8%, while the average selling price of cutting tools dropped by about 50% compared to the previous year [6]. Industry Context - The lithium battery industry is facing challenges such as frequent price reductions, ongoing destocking, and declining capacity utilization, which have negatively impacted customer demand [10][11]. - Despite the downturn, the Chinese government continues to support the lithium battery industry, providing a favorable market outlook [11]. - The global lithium-ion battery shipment volume is projected to reach 1,545.1 GWh in 2024, reflecting a year-on-year growth of 28.5% [11]. - The industry is expected to recover as the destocking phase concludes, leading to a potential inventory replenishment cycle in the coming years [10][11][12]. Financial Metrics - The revenue for Zhihong Precision from 2021 to 2024 shows a significant decline, with 2024 revenue dropping to 22.80 million yuan from 50.59 million yuan in 2023 [10]. - The company’s gross profit margin has also decreased significantly due to increased competition and lower selling prices [6][10]. - The forecast for 2025 indicates a cautious recovery, with expected revenue growth based on historical data and current order volumes [14][17]. Future Outlook - The company anticipates a gradual recovery in demand for molds and cutting tools, supported by an increase in new orders and a stable customer base [12][14]. - The management's projections for future revenue growth are based on a combination of historical performance, current market conditions, and anticipated industry trends [14][17]. - The first quarter of 2025 showed signs of improvement, with a significant increase in order volume compared to the previous year [19][20].

立信会计师事务所(特殊普通合伙) 关于德力西新能源科技股份有限公司 2024年年度报告的信息披露监管问询函的回复 信会师函字[2025]第ZF236号 上海证券交易所: 由德力西新能源科技股份有限公司转来贵所于近日出具的《关于德力西新 能源科技股份有限公司2024年年度报告的信息披露监管问询函》（上证公函〔 2025) 0653号) (以下简称"问询函")收悉。对此,我们做了认真研究,并根 据审核间询函的要求,对审核间询函中涉及会计师的相关问题进行了逐项检查, 相关事项回复如下: 问题 1、年报及相关公告显示,2022年至2024年,公司营业收入分别为5.82 亿元、5.62 亿元、3.64 亿元,综合毛利率为 63.59%、51.19%、30.90%,其中 2024 年同比大幅下滑 20.29 个百分点。公司于 2021年 5 月收购东莞致宏精密模 具有限公司(以下简称"致宏精密")100%股权,致宏精密为公司主要经营资 产,2022年至2024年占公司营业收入的比重分别为93.14%、89.98%、62.62%。 业绩承诺期内即 2020年至 2022年,致宏精密归母净利润分别为 0.76 亿元、1.48 ...

金证（上海）资产评估有限公司 关于德力西新能源科技股份有限公司 2024 年年度报告的信息披露监管问询函的回复 上海证券交易所： 由德力西新能源科技股份有限公司转来贵所于近日出具的《关于德力 西新能源科技股份有限公司 2024 年年度报告的信息披露监管问询函》（上 证公函〔2025〕0653 号）（以下简称"问询函"）收悉。根据问询函的要求， 对问询函中涉及评估机构的相关问题进行了逐项核查，相关事项回复如下： 问题 4、年报及相关公告显示，前期公司收购致宏精密形成合并商誉 4.07亿元。致 宏精密 2023 年经营业绩下滑且 2024 年一季度订单量同比持续下滑 54.94%，但因其 2024 年 4 月接单量明显好转，公司未计提商誉减值。致宏精密 2024 年实现营业收入 2.28 亿 元、净利润 0.21 亿元，相较前期预测值，完成率分别仅为 70.15%、18.92%，公司 2024 年对其计提商誉减值 1.64 亿元。相比以前期间，致宏精密 2024 年度商誉减值测试中使 用的预测期营业收入增长率存在上调、预测期利润率明显下调。且在 2024 年致宏精密 营业收入、净利润均下滑的情况下，商誉减值测试报 ...

请公司补充披露：（1）贸易业务的商业模式及开展情况，包括主要产品、 购销定价政策、结算方式、货物流转、资金流转等情况和收入确认时间节点及 确认依据，结合公司在各环节中扮演的角色和参与程度、承担的存货风险、是 否具有定价权等，说明公司属于主要责任人还是代理人，采用总额法或净额法 核算，是否符合企业会计准则规定；（2）是否存在客户到供应商处自提存货或 供应商将存货运至客户处交付等具有瞬时性控制的情形，如有，进一步说明相 关业务会计处理情况，并说明相关业务是否具有商业实质；（3）结合前述问题， 说明公司首次开展贸易业务即实现较高毛利率水平的原因及合理性，是否明显 高于同行业平均水平；（4）贸易业务主要客户名称及其实际控制方、成立时间、 注册资本、参保人数、交易金额、信用政策、结算方式、期末应收预付款项余 额、订单获取方式等，说明主要客户与公司、控股股东及其他关联方之间是否 存在关联关系，并结合业务模式及其商业实质，说明是否存在非经营性资金占 用或向关联方利益倾斜等情形。请年审会计师发表意见，请独立董事对问题（4） 发表意见。 独立董事关于问题3的独立意见： 我们对上述事项出具了《德力西新能源科技股份有限公司独立董事 ...