6月会议预告 2025高工钠电 产业峰会 主办单位： 高工钠电、高工产业研究院（GGII） 总冠名： 众钠能源 会议时间： 6月9日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 2025高工固态电池 技术与应用峰会 主办单位： 高工锂电、高工储能、高工产业研究院（GGII） 总冠名： 利元亨 会议时间： 6月10日 会议地点： 苏州香格里拉大酒店（苏州虎丘区塔园路168号） 4 月 24 日，璞泰来与 Blue Solutions 签署《联合开发协议》，双方将整合各自优势资源，探索固态电池材料与装备的"最优解"。 璞泰来作为国内锂电材料与设备的综合服务商，在粘结剂、活性材料、集流体等关键部件领域拥有成熟的供应链和技术储备。 而 Blue Solutions 自 2011 年起专注于固态电池研发，其锂金属负极技术与固态电解质体系已实现商业化应用。 此次合作中，璞泰来将向 Blue Solutions 供应定制化材料，并开发适配固态电池生产的专用设备； Blue Solutions 则提供固态电池工艺经验，双方 联合升级产线设备，目标直指"国际一流制造水平"。 协议明确，双方将针对第四代固态锂金属 ...

◆ 电池 ◆ 珠海冠宇准固态电池 实现装车示范应用 01 据珠海冠宇4月28日消息，近日，由珠海冠宇牵头承担的广东省重点领域研发计划项目"准固态动力锂电池的研发与产业化应用"顺利通过广东省科 学技术厅专家组验收。 据悉，项目团队成功突破解决固体电解质膜卷对卷制备技术、高面容量电极低阻抗界面构筑技术、基于原位聚合固态化界面融合的准固态单体电池制 备技术、准固态动力电池失效机制、准固态电池健康状态实时检测及管理技术等关键技术；完成准固态动力电池单体和PACK系统的开发，并实现装 车示范应用。 豪鹏科技一季度净利增超9倍 03 最新业绩显示，豪鹏科技2025年一季度实现营业收入12.25亿元，同比增长23.27%；净利润3181.35万元，同比增长903.92%。 ◆ 材料 ◆ 振华新材暂缓 一锂电正极材料项目实施 01 近 日，振华新材公告，公司于2025年4月24日召开董事会和监事会，审议通过了《关于募集资金投资项目重新论证并暂缓实施的议案》。根据该议 案，公司将暂缓实施正极材料生产线建设项目（义龙三期）。 从基本情况来看，终止项目原计划投资624,535万元，其中使用募集资金100,000万元，项目建设周期3 ...

上海璞泰来新能源科技股份有限公司于2025年4月24日与Bolloré集团旗下Blue Solutions 签订《联合开发协议》，双方将利用璞泰来在原材料供应和生产设备方面的优势和Blue Solutions在固态电池方面的深厚积累，携手探索并落地第四代固态电池材料与装备的最 佳解决方案。 Blue Solutions作为欧洲固态电池产业化先驱，其自2011年起便致力于固态电池开发、制 造与销售。本协议签署后，璞泰来与Blue Solutions将紧密协作，结合双方技术能力与行 业经验，实现材料创新与供应链协同：璞泰来将为Blue Solutions提供包含粘结剂、活性 材料、集流体等关键部件，也将根据Blue Solutions的技术需求开发定制材料和固态电池 制造设备，以确保在技术性能和市场表现上的竞争力；针对固态锂金属电池生产的所有 相关工艺，双方将联合升级现有设备及/或开发新设备，以实现国际一流的制造水平。 -广告- 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源： 璞泰来 进固态电池群 ，加小编微信：13248122922 注：添加好友请备注 公 ...

Core Viewpoint - The performance of leading anode material companies in China has diverged, with some experiencing significant profit declines while others report substantial profit increases [1][2]. Company Performance Summary - **Purtai**: Reported a net profit of 1.191 billion yuan, down 37.72% year-on-year [2][3]. - **BTR**: Achieved a net profit of 930 million yuan, a decrease of 43.76% compared to the previous year [2][3]. - **Shangtai Technology**: Recorded a net profit of 838 million yuan, an increase of 15.79% year-on-year [2][4]. - **Zhongke Electric**: Reported a net profit of 303 million yuan, up 626.56% year-on-year [2][4]. - **Guifengbiao**: Net profit was 50 million yuan, down 40.23% year-on-year [2]. - **Shanshan Co.**: Experienced a net loss of 367 million yuan, marking a 147.79% decline year-on-year [2][3]. Industry Trends - The anode materials industry is facing a phase of structural overcapacity, leading to a decline in product prices [5]. - The overall capacity utilization rate for anode materials is at 60.8%, down 4.5 percentage points year-on-year [5]. - Companies are increasingly focusing on cost reduction and efficiency improvement as a common strategy in response to market conditions [5]. Capacity Expansion - Despite the overcapacity, companies continue to expand production. Most companies reported an increase in construction projects compared to the previous year [6][7]. - **Shangtai Technology**: Increased its construction investment to 687 million yuan, over 16 times higher than the beginning of the year [7]. - **Xiangfenghua**: Reported a 92.53% increase in construction investment due to new projects [7]. - **Zhongke Electric**: Has taken a cautious approach, recognizing the need for impairment provisions on certain projects due to market slowdown [7]. Fast-Charging Technology Development - Fast-charging technology is a clear trend in consumer and power batteries, with significant growth expected in the coming years [8][9]. - Companies like Purtai and BTR are developing fast-charging anode materials that meet high-performance standards [8][10]. - The market for silicon-based anode materials is also expanding rapidly, with leading companies securing bulk orders [10].

Core Viewpoint - The performance of domestic anode material companies showed significant divergence in 2024, with four out of six major listed companies reporting a decline in net profit [1][2]. Company Performance Summary - **Purtai**: Reported a net profit of 1.191 billion yuan, down 37.72% year-on-year [2][3]. - **BTR**: Achieved a net profit of 930 million yuan, a decrease of 43.76% year-on-year, attributed to price declines in anode materials and a drop in demand from end customers [2][3]. - **Shangtai Technology**: Recorded a net profit of 838 million yuan, up 15.79% year-on-year, driven by a differentiated product strategy and cost reduction measures [2][5]. - **Zhongke Electric**: Reported a net profit of 303 million yuan, an increase of 626.56% year-on-year, benefiting from rising demand in the electric vehicle and energy storage markets [4][5]. - **Xiangfenghua**: Achieved a net profit of 49.55 million yuan, down 40.23% year-on-year, due to supply-demand imbalance and increased financial costs [3]. - **Sunsun Co.**: Experienced a net loss of 367 million yuan, a decline of 147.79% year-on-year, primarily due to challenges in its polarizer business [2][3]. Industry Trends - The anode materials industry is facing structural overcapacity, with a production capacity utilization rate of 60.8%, down 4.5 percentage points year-on-year [5][6]. - Companies are increasingly focusing on cost reduction and efficiency improvement as a common strategy to navigate the challenging market environment [5][6]. - The trend towards fast-charging anode materials is becoming clearer, with expectations of significant demand growth in 2025 and 2026 [9][10]. Capacity and Expansion - Among the six companies, Zhongke Electric has the highest capacity utilization rate at 95.66%, followed by BTR at 90.41% and Xiangfenghua at 83.43% [6]. - Despite the overcapacity, companies continue to expand, with significant increases in construction projects reported by most firms [7][8]. - Shangtai Technology's construction projects increased over 16 times year-on-year, indicating aggressive expansion plans [8]. Fast-Charging Material Development - Companies are actively developing fast-charging anode materials, with Purtai and BTR launching products that meet high-performance standards [10]. - The market for silicon-based anode materials is also expanding rapidly, with leading companies like BTR and Sunsun Co. securing bulk orders [10].

Core Viewpoint - The new trade-in policy, supported by a 300 billion subsidy, is reshaping three major industries: home appliances, automobiles, and consumer electronics, presenting investment opportunities for medium to long-term investors [1] Group 1: Home Appliances - The home appliance sector receives the largest subsidy, with up to 20% off for 12 product categories, capped at 2000 yuan per item. Sales surged by 23% year-on-year in the first four months of this year, with leading companies like Midea and Gree operating at full capacity [3] - High-end smart products, such as the Casarte series, have seen sales double post-subsidy, indicating a long-term trend of consumption upgrading [3] Group 2: Automotive Sector - The new energy vehicle segment is the biggest beneficiary, with a 20,000 yuan trade-in subsidy boosting sales. BYD's Han series orders exceeded 80,000 units in April [3] - The battery supply chain, including companies like CATL and Purtai, is also benefiting from this trend. The automotive aftermarket is highlighted as a promising area, with Tianqi's dismantling equipment orders extending to Q4 and Gree's battery recycling business achieving a gross margin of 28% [3] Group 3: Consumer Electronics - Although the subsidies in consumer electronics are smaller, they cover a wide range of products, including mobile phones and tablets. The Honor 90 series has over 40% of its sales through trade-in channels, and the inventory turnover days for core distributor Aishide have decreased to 15 days [3] - VR device manufacturer GoerTek has secured new orders from Meta, with expectations for Q3 performance to exceed forecasts [3] Group 4: Investment Strategy - Investment should focus on three dimensions: core leaders, supporting supply chains, and regional leaders. Recommended stocks include Midea Group and Haier Smart Home in home appliances, BYD and Top Group in new energy vehicles, and Luxshare Precision and Shenzhen South Circuit in consumer electronics [4] - Key timelines for investment include the release of home appliance energy-saving subsidy details in June, the launch of new energy vehicles in August, and the consumer electronics exhibition in November. Early positioning can capture policy-driven benefits [4] Group 5: Market Trends - The policy is expected to accelerate the concentration of the three industries. The market share of the top five companies in the home appliance sector has increased from 68% in 2019 to 79% currently, while the top ten automotive companies now hold over 92% market share [4] - The focus should be on companies with stable cash flow and a dividend yield exceeding 3% to seize structural opportunities [4]

尽管公司现金资产较为健康，但有息负债达到100.66亿元，同比增加12.56%，有息资产负债率已达 23.32%。此外，货币资金与流动负债的比例仅为65.96%，近3年经营性现金流均值与流动负债的比例也 仅为10.93%，这些数据提示公司需关注其债务偿还能力。 应收账款 公司应收账款为36.28亿元，虽然较去年同期略有下降(-0.11%)，但应收账款与利润的比例高达 304.72%，这意味着公司可能存在较大的应收账款回收风险，需密切关注应收账款的管理情况。 总结 近期璞泰来（603659）发布2025年一季报，证券之星财报模型分析如下： 盈利能力分析 根据璞泰来发布的2025年一季报，公司的盈利能力有所提升。截至本报告期末，公司营业总收入达到 32.15亿元，同比上升5.96%；归母净利润为4.88亿元，同比上升9.64%；扣非净利润为4.74亿元，同比上 升13.2%。毛利率和净利率分别为32.16%和16.81%，分别同比增加2.56%和0.52%。这表明公司在主营业 务上的盈利能力有所增强。 现金流状况 在现金流方面，公司每股经营性现金流为0.25元，同比大幅增长138.97%，显示出公司在经营活动中的 ...

Group 1 - The company has proposed to reappoint Ernst & Young Hua Ming as its financial audit and internal control audit institution for the year 2025, with a term of one year, pending approval at the shareholders' meeting [2][10][11] - Ernst & Young Hua Ming was established in September 1992 and has a strong focus on talent development, with over 1,700 certified public accountants, including more than 500 with experience in securities-related services [2][3] - The audit firm reported a total revenue of RMB 5.955 billion in 2023, with audit service revenue of RMB 5.585 billion and securities service revenue of RMB 2.438 billion [2] Group 2 - The audit firm has a good investor protection capability, having set aside a professional risk fund and purchased professional liability insurance with a total coverage exceeding RMB 200 million [3] - In the past three years, Ernst & Young Hua Ming has not faced any civil lawsuits related to its professional conduct [3][5] - The firm has maintained a clean record with no criminal or administrative penalties in the last three years [5][7] Group 3 - The project partner and lead auditor, Liu Chong, has been a registered accountant since 2010 and has been providing audit services to the company since 2021 [6] - The second signing auditor, Zhao Pu, has been with the firm since 2021 and has also been involved in auditing the company [6] - The quality review partner, Tan Zhao Hui, has extensive experience in auditing and has been with Ernst & Young Hua Ming since 1993 [6] Group 4 - The audit fee for 2024 is set at RMB 2.5411 million, which includes tax, and the fee structure will remain unchanged for 2025 [9] - The audit committee unanimously approved the reappointment of Ernst & Young Hua Ming, citing their adherence to independent and objective auditing standards [10][11] - The board of directors also supported the reappointment, emphasizing the audit firm's professional competence and ethical conduct [11][12] Group 5 - The shareholders' meeting is scheduled for May 16, 2025, to discuss various proposals, including the reappointment of the audit firm [16][17] - The meeting will utilize a combination of on-site and online voting methods [16] - The company has outlined specific procedures for shareholders to register and participate in the meeting [20][22]

证券代码:603659 证券简称:璞泰来 公告编号:2025-027 上海璞泰来新能源科技股份有限公司 第四届董事会第五次会议决议公告 表决结果：同意票5票，反对票0票，弃权票0票。 (二)审议通过了《2024年度董事会工作报告》 公司董事会审议通过了《2024年度董事会工作报告》，公司独立董事向董事 会提交了《2024年度独立董事述职报告》，并将在公司2024年年度股东大会上进 行年度述职。 本议案事前已经公司董事会战略及可持续发展委员会审议一致通过。 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。 一、董事会会议召开情况 上海璞泰来新能源科技股份有限公司（下称"公司"、"本公司"、"璞泰 来"）第四届董事会第五次会议通知于2025年4月15日以电子邮件、电话通知的 方式发出，会议于2025年4月25日下午在公司会议室采用现场结合通讯表决的方 式召开，应参加表决董事5人，实际参加表决董事5人，会议由公司董事长梁丰 先生召集并主持。本次会议的召集及召开程序符合《公司法》、《证券法》及 《公司章程》的相关规定，会议合法有效。 二 ...

证券代码:603659 证券简称:璞泰来 公告编号:2025-032 上海璞泰来新能源科技股份有限公司 2024 年度利润分配方案公告 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： A 股每 10 股派发现金红利 1.70 元（含税），不送红股，不以公积金转增股 本。 本次利润分配方案已经公司第四届董事会第五次会议审议通过，尚需提交股 东大会审议。 本次利润分配以实施权益分派股权登记日的总股本为基数，具体日期将在权 益分派实施公告中明确。在实施权益分派的股权登记日前公司总股本发生变动的， 拟维持每股分配金额不变，相应调整利润分配总额，并将另行公告具体调整情况。 公司不触及《上海证券交易所股票上市规则》第 9.8.1 条第一款第（八）项 规定的可能被实施其他风险警示的情形。 一、利润分配方案内容 （一）利润分配方案的具体内容 根据安永华明会计师事务所（特殊普通合伙）出具的安永华明(2025)审字第 70036285_B02号《审计报告》：2024年度，公司年初未分配利润为7,655,927,467.11 元，加 ...