杭州福斯特应用材料股份有限公司 内幕信息知情人登记管理制度 （2025 年 10 月修订） 第一章 总 则 第一条 为规范杭州福斯特应用材料股份有限公司（以下简称"公司"） 内幕信息管理，加强内幕信息保密工作，维护信息披露的公平原则，保护广大投 资者的合法权益，根据《中华人民共和国公司法》（以下简称"《公司法》"） 《中华人民共和国证券法》（以下简称"《证券法》"）《上市公司信息披露管 理办法》《上市公司监管指引第5号-上市公司内幕信息知情人登记管理制度》《上 海证券交易所股票上市规则》《上海证券交易所上市公司自律监管指引第2号— —信息披露事务管理》等有关法律法规及《杭州福斯特应用材料股份有限公司章 程》（以下简称"《公司章程》"）等有关规定，结合公司实际情况，制定本制 度。 第二条 公司董事会是内幕信息的管理机构，董事长为内幕信息管理的主 要责任人，董事会秘书作为直接责任人，负责公司内幕信息的保密管理，在相关 信息依法公开披露前负责内幕信息知情人的登记入档和管理事宜。董事长与董事 会秘书应当对内幕信息知情人档案的真实、准确和完整签署书面确认意见。 第三条 公司董事会办公室在董事会秘书领导下具体负责公司内幕 ...

杭州福斯特应用材料股份有限公司 ESG 工作小组工作细则 （2025 年 10 月修订） 第一章 总则 第一条 为完善杭州福斯特应用材料股份有限公司（以下简称"公司"）治理结 构，进一步建设和规范公司环境、社会责任及公司治理（Environment, Social and Governance，以下简称：ESG）工作体系，促进公司自身规范高效地运作，适应公司 战略发展需要，增强公司核心竞争力，根据《中华人民共和国公司法》《中华人民共 和国证券法》《上市公司治理准则》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》《上海证券交易所上市公司自律监管指引第 14 号——可持续发展报 告（试行）》《上海证券交易所上市公司自律监管指南第 4 号——可持续发展报告编 制》《企业内部控制应用指引第 4 号——社会责任》等规范性文件以及《杭州福斯特 应用材料股份有限公司章程》（以下简称"《公司章程》"）的有关规定，公司现制 定本 ESG 工作小组工作细则（以下简称"本工作细则"）。 图 1 ESG 工作小组架构图 第三条 ESG 工作小组由董事会办公室担任组长职务，小组成员由供应链中心、 法务部、内审部、财务中心 ...

杭州福斯特应用材料股份有限公司 外汇衍生品交易业务管理制度 （2025 年 10 月修订） 第一章 总则 第一条 为了规范杭州福斯特应用材料股份有限公司(以下简称"公司") 外汇衍生品交易业务，有效防范和降低汇率波动给公司经营造成的风险，根据《中 华人民共和国公司法》《中华人民共和国证券法》《上海证券交易所股票上市规 则》《上海证券交易所上市公司自律监管指引第5号——交易与关联交易》等相 关法律、法规及规范性文件和《公司章程》等，结合公司实际情况制定本制度。 第二条 本制度所称外汇衍生品交易业务是指为满足正常生产经营需要， 在银行办理的规避和防范汇率或利率风险的外汇衍生品交易业务，包括远期结售 汇、人民币和其他外汇的掉期业务、外汇买卖、外汇掉期、外汇期权、利率互换、 利率掉期、利率期权等产品或上述产品的组合。 第三条 本制度适用于公司及公司所属全资子公司、控股子公司（以下简 称"子公司"）。 第二章 外汇衍生品交易业务操作原则 第四条 公司外汇衍生品交易业务以正常生产经营为基础，以具体经营业 务为依托，以套期保值为手段，以规避和防范汇率风险为目的，并应控制外汇衍 生品交易在种类、规模及期限上与需管理的风险敞口 ...

Financial Performance - The company's operating revenue for the third quarter was ¥3,829,411,071.58, a decrease of 13.18% compared to the same period last year[4] - The total profit for the third quarter was ¥219,779,678.61, down 37.93% year-on-year[4] - The net profit attributable to shareholders was ¥191,846,385.55, reflecting a decline of 41.79% compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥181,219,858.10, a decrease of 43.23% year-on-year[4] - The basic earnings per share for the third quarter was ¥0.07, down 41.67% from the same period last year[4] - The diluted earnings per share was ¥0.08, a decrease of 38.46% year-on-year[4] - The net profit for the year-to-date period was ¥687,598,094.54, down 45.34% compared to the same period last year[4] - Total operating revenue for the first three quarters of 2025 was CNY 11,787,924,723.01, a decrease of 22.5% compared to CNY 15,174,251,391.12 in the same period of 2024[18] - Net profit for the first three quarters of 2025 was CNY 667,831,464.19, a decline of 46.5% compared to CNY 1,256,863,367.93 in 2024[19] - Earnings per share for the first three quarters of 2025 were CNY 0.26, down from CNY 0.48 in the same period of 2024[20] - The total comprehensive income for the first three quarters of 2025 was CNY 661,137,257.84, down from CNY 1,287,299,247.51 in 2024[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥20,684,415,747.11, a decrease of 2.49% from the end of the previous year[5] - As of September 30, 2025, the total assets amounted to RMB 20,684,415,747.11, a decrease from RMB 21,211,809,320.40 as of December 31, 2024, reflecting a decline of approximately 2.48%[14] - Current assets totaled RMB 15,280,973,315.34, down from RMB 15,925,575,984.71, indicating a decrease of about 4.05%[15] - The company's fixed assets rose to RMB 4,176,960,147.15 from RMB 3,886,744,435.08, reflecting an increase of approximately 7.45%[15] - The total liabilities decreased to CNY 4,083,409,225.81 in 2025 from CNY 4,594,141,839.45 in 2024, reflecting a reduction of 11.1%[17] - The total liabilities were not explicitly stated, but current liabilities included accounts payable of RMB 809,656,434.24, down from RMB 925,268,505.83, indicating a decrease of about 12.50%[15] - The company reported a total of RMB 5,403,442,431.77 in non-current assets, an increase from RMB 5,286,233,335.69, representing a growth of approximately 2.22%[15] Cash Flow - The company reported a significant decline in cash flow from operating activities, with a net cash flow of ¥13,947,307.42, down 99.50% year-on-year[4] - In the first three quarters of 2025, the cash inflow from operating activities was approximately CNY 10.98 billion, a decrease of 27.5% compared to CNY 15.11 billion in the same period of 2024[21] - The net cash flow from operating activities for the first three quarters of 2025 was CNY 13.95 million, significantly lower than CNY 2.79 billion in 2024[22] - The total cash outflow from investing activities in the first three quarters of 2025 was CNY 14.51 billion, compared to CNY 4.98 billion in 2024, resulting in a net cash outflow of CNY 1.63 billion[22] - Cash inflow from investment activities was CNY 12.88 billion in 2025, a substantial increase from CNY 2.27 billion in 2024[22] - The cash outflow for financing activities in the first three quarters of 2025 was CNY 1.06 billion, compared to CNY 1.65 billion in 2024, leading to a net cash outflow of CNY 1.05 billion[22] - The cash and cash equivalents at the end of the third quarter of 2025 were CNY 2.34 billion, down from CNY 4.59 billion at the end of the same period in 2024[22] Research and Development - Research and development expenses for the first three quarters of 2025 were CNY 363,965,846.53, a decrease of 29.7% from CNY 518,013,725.90 in 2024[18] Shareholder Information - There were no significant changes in the top 10 shareholders or their shareholding percentages compared to the previous period[13] Company Activities - The company has not disclosed any new product developments or market expansion strategies during the reporting period[13] - The company did not participate in any financing or securities lending activities during the reporting period[13]

杭州福斯特应用材料股份有限公司 年报信息披露重大差错责任追究制度 （2025 年 10 月修订） 第一章 总则 第一条 为了进一步提高杭州福斯特应用材料股份有限公司（以下称"公 司"）规范运作水平，增强信息披露的真实性、准确性、完整性和及时性，提高 年报信息披露的质量和透明度，根据《中华人民共和国公司法》《中华人民共和 国证券法》《上市公司信息披露管理办法》《上市公司治理准则》《上海证券交易 所股票上市规则》《公开发行证券的公司信息披露内容与格式准则第2号——年度 报告的内容与格式》等法律、法规、规范性文件及《杭州福斯特应用材料股份有 限公司章程》的有关规定，结合公司的实际情况，特制定本制度。 第二条 公司有关人员应当严格执行《企业会计准则》及相关规定，严格 遵守公司与财务报告相关的内部控制制度，确保财务报告真实、公允地反映公司 的财务状况、经营成果和现金流量。公司有关人员不得干扰、阻碍审计机构及相 关注册会计师独立、客观地进行年报审计工作。 第三条 公司董事、高级管理人员以及与年报信息披露相关的其他人员在 年报信息披露工作中违反国家有关法律、法规、规范性文件以及公司规章制度， 未勤勉尽责或者不履行职责，导致 ...

Core Viewpoint - Foster reported a decline in both revenue and net profit for the third quarter, indicating significant financial challenges faced by the company [1] Financial Performance - The revenue for the third quarter was 3.829 billion, a year-on-year decrease of 13.18% [1] - The net profit for the third quarter was 192 million, reflecting a year-on-year decline of 41.79% [1] - For the first three quarters, the total revenue amounted to 11.788 billion, down 22.32% compared to the same period last year [1] - The net profit for the first three quarters was 688 million, which is a decrease of 45.34% year-on-year [1]

Investment Rating - The report recommends investment in the electric power equipment industry, highlighting specific companies for potential investment opportunities [1][3]. Core Insights - Lithium battery material prices continue to rise, with domestic lithium hexafluorophosphate averaging 95,000 yuan/ton, up 20.25% month-on-month, and export prices at 104,000 yuan/ton, up 20.93% [1]. - The average winning bid price for lithium battery energy storage systems increased to 0.4771 yuan/Wh in September 2025, reflecting a 4.33% month-on-month rise [1]. - The report emphasizes the ongoing high demand in the wind power sector, with a target of adding no less than 120GW of new installed capacity annually during the 14th Five-Year Plan period [3]. - The Indian market shows strong demand for photovoltaic installations, with 29.5GW added in the first three quarters of 2025, a 70% year-on-year increase [3]. Summary by Sections Lithium Battery Materials - Domestic lithium hexafluorophosphate prices are at 95,000 yuan/ton, a 20.25% increase month-on-month, while export prices are at 104,000 yuan/ton, up 20.93% [1]. - Recommended companies in the lithium battery sector include Zhuhai Guanyu, Shangtai Technology, and XWANDA [1]. Energy Storage Systems - The average winning bid price for lithium battery energy storage systems reached 0.4771 yuan/Wh in September 2025, marking a 4.33% increase month-on-month [1]. - Recommended companies in the energy storage sector include Yiwei Lithium Energy, Sungrow Power, and CATL [1]. Wind Power - The "Wind Energy Beijing Declaration 2.0" sets a target of at least 120GW of new installed capacity annually during the 14th Five-Year Plan, with a cumulative target of 1,300GW by 2030 [3]. - Recommended companies in the wind power sector include Goldwind Technology and Daikin Heavy Industries [3]. Photovoltaic Market - India added 29.5GW of new photovoltaic capacity in the first three quarters of 2025, a 70% year-on-year increase [3]. - Recommended companies in the photovoltaic sector include Aiko Solar, LONGi Green Energy, and Mibet [3].

Market Overview - The photovoltaic equipment sector experienced a decline of 1.67% on October 22, with Gaoce Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Notable gainers in the photovoltaic equipment sector included: - *ST Mu Bang: Closed at 8.19, up 5.00% with a trading volume of 119,100 shares [1] - Zhibang New Materials: Closed at 38.70, up 4.51% with a trading volume of 78,500 shares [1] - Dike Co., Ltd.: Closed at 64.87, up 2.30% with a trading volume of 111,600 shares [1] - Major decliners included: - Gaoce Co., Ltd.: Closed at 11.18, down 6.29% with a trading volume of 562,200 shares [3] - Yicheng New Energy: Closed at 5.53, down 4.98% with a trading volume of 1,231,000 shares [3] - Aisheng Co., Ltd.: Closed at 15.57, down 3.35% with a trading volume of 502,900 shares [3] Capital Flow - The photovoltaic equipment sector saw a net outflow of 2.17 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.328 billion yuan [4] - Key stocks with significant capital flow included: - Hongyuan Green Energy: Net inflow of 23.39 million yuan from institutional investors [4] - International Industry: Net inflow of 17.44 million yuan from institutional investors [4] - Gaoce Co., Ltd.: Net outflow of 6.96 million yuan from institutional investors [4] ETF Information - The Huaxia Sci-Tech 100 ETF (Product Code: 588800) tracks the Shanghai Stock Exchange Sci-Tech 100 Index and has seen a recent decline of 0.61% over the past five days [6] - The ETF's current price-to-earnings ratio stands at 277.84, with a total of 2.03 billion shares, reflecting an increase of 2.5 million shares and a net inflow of 8.399 million yuan [6]

Group 1 - Foster's stock price decreased by 1.43% on October 20, with a trading volume of 333 million yuan [1] - The financing buy amount for Foster on the same day was 21.39 million yuan, while the financing repayment was 21.85 million yuan, resulting in a net financing buy of -0.46 million yuan [1] - As of October 20, the total balance of margin trading for Foster was 531 million yuan, with the financing balance accounting for 1.34% of the circulating market value, indicating a low level compared to the past year [1] Group 2 - For the first half of 2025, Foster reported a revenue of 7.959 billion yuan, a year-on-year decrease of 26.06%, and a net profit attributable to shareholders of 496 million yuan, down 46.60% year-on-year [2] - Since its A-share listing, Foster has distributed a total of 3.669 billion yuan in dividends, with 1.361 billion yuan distributed in the last three years [2] Group 3 - As of June 30, 2025, the number of Foster's shareholders was 71,700, a decrease of 0.28% from the previous period, while the average circulating shares per person increased by 0.28% to 36,370 shares [2][3] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the third largest, holding 95.8434 million shares, an increase of 21.0567 million shares from the previous period [3] - The top ten shareholders saw changes, with some funds exiting and new ones entering, indicating a shift in institutional holdings [3]

Core Viewpoint - Foster's stock price has shown fluctuations, with a year-to-date increase of 3.65% but a recent decline over various trading periods, indicating potential volatility in the market [1]. Company Overview - Foster, established on May 12, 2003, and listed on September 5, 2014, is located in Lin'an District, Hangzhou, Zhejiang Province. The company specializes in the research, production, and sales of solar cell encapsulants, copolyamide hot melt adhesive films, and solar cell backsheets [2]. - The main revenue sources for Foster include photovoltaic encapsulants (90.65%), photosensitive dry films (4.08%), photovoltaic backsheets (2.20%), and other products [2]. Financial Performance - For the first half of 2025, Foster reported operating revenue of 7.959 billion yuan, a year-on-year decrease of 26.06%, and a net profit attributable to shareholders of 496 million yuan, down 46.60% year-on-year [2]. - Since its A-share listing, Foster has distributed a total of 3.669 billion yuan in dividends, with 1.361 billion yuan distributed over the past three years [3]. Shareholder Structure - As of June 30, 2025, Foster had 71,700 shareholders, a slight decrease of 0.28% from the previous period. The average number of circulating shares per person increased by 0.28% to 36,370 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 21.06 million shares, and several ETFs, indicating a diverse institutional interest [3].