鼎胜新材公告称，为满足全资子公司五星铝业、鼎胜进出口日常经营需要，公司分别为其向宁波银行提 供1亿元最高额连带责任保证，担保期限均为债务履行期限届满之日起两年，无反担保。本次担保在年 度股东会授权额度内。截至公告日，公司及子公司累计对外担保余额约28.29亿元，占最近一期经审计 净资产的42.41%，无逾期对外担保情形。 ...

Core Viewpoint - The air conditioning aluminum foil industry is experiencing fluctuations in production due to varying market demands, with a projected increase in production in 2024 followed by a decline in 2025 due to rising inventory levels [1][7]. Industry Overview - Air conditioning aluminum foil is a critical material in the air conditioning manufacturing sector, known for its lightweight, corrosion resistance, and thermal conductivity [1][3]. - The industry is divided into non-coated and coated aluminum foil, with the latter gaining traction in recent years due to its enhanced functionality [3]. Production Trends - China's air conditioning aluminum foil production saw a significant drop to 860,000 tons in 2022, a 14% decrease year-on-year, due to the impact of the pandemic [1][7]. - In 2023, production began to recover, and by 2024, it is expected to reach 1,060,000 tons, a 1.9% increase from the previous year [1][7]. - However, a forecast for 2025 indicates a decline to 1,020,000 tons, a reduction of approximately 40,000 tons or 3.8% [1][7]. Industry Chain - The upstream of the air conditioning aluminum foil industry includes raw materials such as bauxite, alumina, electrolytic aluminum, and recycled aluminum [5]. - The production of electrolytic aluminum is crucial, with China's output projected to grow from 35.13 million tons in 2019 to 44.00 million tons by 2024 [5][6]. Competitive Landscape - The air conditioning aluminum foil market is characterized by a diverse competitive landscape, with large companies dominating due to scale and technology, while smaller firms seek market opportunities through flexible strategies [9]. - Key players include Jiangsu Dingsheng New Material Co., Ltd., Guangdong Dongyangguang Technology Holdings Co., Ltd., and Jiangsu Chang Aluminum Group Co., Ltd., among others [9][10]. Development Trends - Technological innovation is driving the industry forward, with companies investing in R&D to enhance product quality and performance [11]. - Environmental policies are pushing the industry towards more sustainable practices, creating opportunities for the development of recyclable and biodegradable aluminum foil materials [12]. - The industry is expected to undergo consolidation and restructuring, optimizing the industry structure and improving production efficiency [13].

Group 1 - The core viewpoint of the news is that Ding Sheng New Materials has shown significant stock performance and financial growth, with a notable increase in revenue and net profit year-on-year [1][2] - As of January 15, Ding Sheng New Materials' stock price increased by 6.06% since the beginning of the year, with a recent drop of 2.21% over the last five trading days, but a substantial rise of 31.68% over the last 20 days and 44.46% over the last 60 days [1] - The company specializes in the research, production, and sales of aluminum foil, with its main business revenue composition being 85.57% from aluminum foil products, 12.80% from aluminum plates and strips, and 1.64% from other sources [1] Group 2 - As of December 20, the number of shareholders for Ding Sheng New Materials decreased by 16.89% to 42,800, while the average circulating shares per person increased by 20.33% to 21,711 shares [2] - For the period from January to September 2025, Ding Sheng New Materials achieved an operating revenue of 19.604 billion yuan, representing a year-on-year growth of 11.29%, and a net profit attributable to shareholders of 307 million yuan, up 36.61% year-on-year [2] - Since its A-share listing, Ding Sheng New Materials has distributed a total of 949 million yuan in dividends, with 720 million yuan distributed over the past three years [2]

Group 1 - The company Ding Sheng New Materials announced on January 7 that it has signed a maximum guarantee contract with Industrial Bank Co., Ltd. Hangzhou Linping Branch to provide a joint liability guarantee of RMB 450 million for Five Star Aluminum's daily operations [1] - The guarantee period is set for three years from the date of debt performance expiration, and there is no counter-guarantee involved in this transaction [1] - As of the date of the announcement, the total external guarantee balance of the company and its subsidiaries is approximately RMB 2.696 billion, which accounts for 40.43% of the company's most recent audited net assets [1]

证券代码：603876 证券简称：鼎胜新材 公告编号：2026-002 江苏鼎胜新能源材料股份有限公司 关于为全资子公司提供担保的公告 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法律责任。 重要内容提示： | | | 被担保人名称 本次担保金额 | "五星铝业"） 45,000.00 万元 | | 杭州五星铝业有限公司（以下简称 | | --- | --- | --- | --- | --- | --- | | 担 | 保 对 | | | | | | 象 | | 实际为其提供的担保余额 | 103,060.00 万元 | | | | | | 是否在前期预计额度内 | 是 | □否 | □不适用：_________ | | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | 担保对象及基本情况 累计担保情况（已发生） | 对外担保逾期的累计金额（万元） | 0.00 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保余额（万元） | 269,641.98 | | 对外 ...

Group 1 - The company Ding Sheng New Materials (603876) responded to investor inquiries on an interactive platform, indicating that it will disclose the number of shareholders at the time of its periodic report [1]

证券代码：603876 证券简称：鼎胜新材 公告编号：2026-001 江苏鼎胜新能源材料股份有限公司 关于变更签字注册会计师的公告 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法律责任。 江苏鼎胜新能源材料股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日召开第六届董事会第十七次会议，审议通过了《关于续聘天健会计师事务所（特 殊普通合伙）为公司审计机构的议案》，同意续聘请天健会计师事务所（特殊普 通合伙）（以下简称"天健"）为公司 2025 年度的审计机构。具体内容详见公 司 2025 年 4 月 29 日披露于上海证券交易所网站（www.sse.com.cn）的《关于续 聘会计师事务所的公告》（公告编号：2025-044）。上述议案已经公司 2024 年 年度股东会审议通过。 公司于近日收到天健出具的《关于变更签字注册会计师的函》，现将相关变 更情况公告如下： 项目签字注册会计师陆俊洁最近三年未受到过刑事处罚、行政处罚、行政监 管措施和自律处分。 3、独立性 陆俊洁不存在违反《中国注册会计师职业道德守则》对独立性要 ...

Core Viewpoint - The company, Ding Sheng New Materials, is focusing on expanding its battery foil production capacity to meet the growing demand in the overseas new energy market, leveraging its existing production bases in Thailand and Europe [1] Group 1 - As of the end of 2025, the company is inquiring about its maximum production capacity for battery foil in tons across all global production bases [1] - Currently, the company's battery foil products are primarily sold domestically [1] - The company plans to utilize its production bases in Thailand and Europe to supply battery aluminum foil to the overseas new energy market in the future [1]

Core Viewpoint - The company, Ding Sheng New Materials (603876.SH), primarily sells its battery foil products domestically but plans to leverage its existing bases in Thailand and Europe to supply battery aluminum foil to meet the demand of the overseas new energy market [1] Group 1 - The company's current focus is on domestic sales of battery foil products [1] - Future plans include utilizing production capabilities in Thailand and Europe to cater to international markets [1] - The strategy aims to align with the growing demand in the overseas new energy sector [1]

Investment Rating - The industry investment rating is "Overweight" indicating a positive outlook for the sector compared to the overall market performance [2]. Core Insights - The report highlights the continuation of electric vehicle (EV) subsidies in 2026, which is expected to enhance the penetration rate of EVs and boost sales, particularly for mid to high-priced models [2]. - The implementation of a large-scale equipment renewal and consumer goods replacement policy reflects the government's commitment to supporting the consumption of new energy vehicles [2]. - The report anticipates a strong demand for lithium batteries in 2026, driven by the sustained growth in electric vehicle sales and the continuation of the old-for-new policy [2]. Summary by Sections Policy Impact - The 2026 policy includes subsidies for scrapping and replacing old vehicles, with personal consumers receiving up to 20,000 yuan for qualifying new energy vehicles [2]. - The policy aims to support the transition to low-emission vehicles, including electric trucks and city buses, thereby alleviating concerns about subsidy reductions for electric heavy trucks [2]. Market Performance - In 2025, the old-for-new policy significantly boosted the sales of new energy vehicles, with production and sales reaching 14.91 million and 14.78 million units respectively, marking a year-on-year growth of 31.4% and 31.2% [2]. - The report notes that the domestic power battery sales reached 1,044.3 GWh in 2025, reflecting a 50.3% year-on-year increase, indicating a robust market for battery manufacturers [2]. Investment Recommendations - The report suggests focusing on leading battery companies such as CATL, Zhongxin Innovation, and Yiwei Lithium Energy, as well as material suppliers like Hunan Youneng and Tianwei Technology, due to their strong market positions and growth potential [2]. - The anticipated increase in electric vehicle penetration and battery demand presents a favorable investment landscape for stakeholders in the new energy sector [2].