Core Points - Baili Technology has announced an abnormal fluctuation in stock trading due to a notification from the Beijing Financial Court regarding the auction of shares held by its controlling shareholder [1] - The auction involves 48,078,800 unrestricted circulating shares, representing approximately 9.81% of the company's total share capital [1] - The judicial auction is currently in the public notice phase, with subsequent steps including bidding, payment, and transfer of equity ownership, leading to uncertainty regarding the auction results [1]

Group 1 - Beijing Lier and Tianci Materials reached the daily limit increase, indicating strong market performance [1] - Hunan Yuneng saw an increase of over 10%, reflecting positive investor sentiment [1] - Haibo Sichuang experienced a rise of over 9%, contributing to the overall upward trend in the sector [1] Group 2 - Baili Technology, Zhongyi Technology, and Ningde Times also ranked among the top gainers, showcasing a broad market rally [1]

Core Viewpoint - The solid-state battery concept stocks experienced a significant rise at the beginning of trading, indicating strong market interest and potential growth in this sector [1] Company Performance - Beijing Lier and Tianci Materials reached the daily limit increase, showcasing robust investor confidence [1] - Hunan Youneng saw an increase of over 10%, reflecting positive market sentiment [1] - Haibosi Chuang rose by more than 9%, further indicating a bullish trend in the solid-state battery sector [1] - Other notable performers included Baili Technology (rights protection), Zhongyi Technology, and CATL, which also showed significant gains [1]

Core Insights - Solid-state battery concept stocks experienced a surge in early trading, indicating strong market interest in this technology [1] Company Summaries - Tianqi Materials (002709) reached the daily limit increase, reflecting significant investor confidence in the company's prospects within the solid-state battery sector [1] - Beijing Lier (002392), Haibosi Chuang, and Baili Technology (603959) also saw gains, suggesting a broader positive sentiment towards companies involved in solid-state battery development [1] - Hunan Youneng (301358) joined the upward trend, further highlighting the growing interest in solid-state battery stocks [1]

Group 1 - The market focus stocks include Qingshan Paper, which opened up 5.74% after a streak of 9 consecutive days of gains [1] - Robotics concept stocks such as Shoukai Co. opened up 9.07% after 8 days of gains, while Baili Technology opened up 2.21% after 4 days of gains [1] - The real estate sector saw Suning Universal open up 3.93% after 4 consecutive days of gains [1] Group 2 - Liquid cooling service stocks like Chunzhong Technology opened up 4.77% after 4 days of gains, while Kehua Data opened down 0.06% after 6 days of gains [1] - The high-speed rail sector saw Bidetech open up 3.90% after 6 days of gains [1] - PCB concept stocks such as Jingwang Electronics remained flat, while Fangzheng Technology opened up 2.21% after 6 days of gains [1] Group 3 - Dongzhu Ecology, involved in mergers and acquisitions, saw its stock hit the daily limit up after 3 consecutive days of gains [1] - Oracle concept stock Xinjun Network opened down 1.60% after 3 days of gains [1]

Transaction Overview - Hunan Baili Engineering Technology Co., Ltd. (the "Company") through its wholly-owned subsidiary Changzhou Baili Lithium Battery Smart Factory Co., Ltd. (referred to as "Baili Lithium") signed a share transfer agreement with Wuxi Baiqing Intelligent Robot Technology Co., Ltd. (referred to as "Wuxi Baiqing") shareholder Zhu Yueyuan in August 2022, acquiring 60% of Wuxi Baiqing's shares for a cash consideration of 1.2 million yuan [2] - Recently, Baili Lithium signed a share transfer agreement to sell 40.1% of its shares in Wuxi Baiqing back to Zhu Yueyuan and Jia Shaohua for a cash consideration of 1 yuan, reducing its stake from 60% to 19.9% [2] Counterparty Information - The counterparties for the transaction are Zhu Yueyuan and Jia Shaohua, who are natural shareholders of Wuxi Baiqing, each holding 20% of the shares prior to the transfer [3] Target Company Information - Wuxi Baiqing was established on May 5, 2016, with a registered capital of 12 million yuan. Its main business includes the research and development of intelligent robots, manufacturing and sales of industrial robots, and various technical services [4] Financial Interactions - As of August 2025, Baili Technology had accounts receivable from Wuxi Baiqing amounting to 2.6 million yuan. A four-party agreement was signed to transfer this receivable to Baili Lithium, which will offset its payables to Wuxi Baiqing [5] - Baili Lithium had no accounts receivable from Wuxi Baiqing as of August 2025, but had a guarantee balance of 5 million yuan, expiring on December 29, 2026 [5] Share Transfer Agreement Details - The share transfer involves 40.1% of Wuxi Baiqing's shares, with the transfer price set at 1 yuan. The agreement stipulates that the transfer must be completed within 15 working days after payment [6][7] Impact of the Transaction - The share transfer is part of the Company's strategic transformation to focus on high-end intelligent equipment and smart factory solutions for new materials and energy sectors. It aims to optimize resource allocation and improve operational efficiency without adversely affecting the Company's financial status or shareholder interests [12]

Transaction Overview - Hunan Baili Engineering Technology Co., Ltd. (the "Company") announced that its wholly-owned subsidiary, Changzhou Baili Lithium Battery Smart Factory Co., Ltd. ("Baili Lithium"), signed a share transfer agreement to acquire 60% of Wuxi Baiqing Intelligent Robot Technology Co., Ltd. ("Wuxi Baiqing") for 1.2 million yuan in cash in August 2022 [2] - Recently, Baili Lithium signed a share transfer agreement to sell 40.1% of its shares in Wuxi Baiqing to shareholders Zhu Yueyuan and Jia Shaohua for 1 yuan, reducing its stake from 60% to 19.9% [2][6] Counterparty Information - The counterparties for the transaction are Zhu Yueyuan and Jia Shaohua, who are natural person shareholders of Wuxi Baiqing, each holding 20% of the shares prior to the transfer [3] Target Company Information - Wuxi Baiqing was established on May 5, 2016, with a registered capital of 12 million yuan. Its main business includes research and development of intelligent robots, manufacturing and sales of industrial robots, and various technical services [4] Financial Information - As of August 2025, Baili Technology had accounts receivable from Wuxi Baiqing amounting to 2.6 million yuan. A four-party agreement was signed to transfer this receivable to Baili Lithium, which will offset its payables to Wuxi Baiqing [5] Impact of the Transaction - The share transfer is part of the Company's strategic development plan to focus on high-end intelligent equipment and smart factory solutions for new materials and energy sectors. This move is expected to optimize resource allocation, improve asset quality, reduce management costs, and enhance operational efficiency [13]

Market Overview - The Shanghai Composite Index fell by 0.12% on September 12, with 9 out of the 28 sectors rising, led by non-ferrous metals and real estate, which increased by 1.96% and 1.51% respectively [1] - The construction decoration sector rose by 0.96% [1] - The total net outflow of funds from the two markets was 53.64 billion yuan, with 6 sectors experiencing net inflows [1] Sector Performance - The non-ferrous metals sector had the highest net inflow of funds, totaling 2.168 billion yuan, coinciding with its 1.96% increase [1] - The construction decoration sector saw a net inflow of 721 million yuan, with a daily increase of 0.96% [1] Construction Decoration Sector Details - The construction decoration sector consists of 156 stocks, with 78 stocks rising and 7 hitting the daily limit up, while 70 stocks fell and 1 hit the daily limit down [2] - Among the stocks with significant net inflows, Shanghai Construction had the highest at 471 million yuan, followed by Baile Technology and Tongji Technology with inflows of 113 million yuan and 101 million yuan respectively [2] - The top stocks with net outflows included China Power Construction, with a net outflow of 264 million yuan, followed by Huilyu Ecology and China Railway with outflows of 68.96 million yuan and 52.67 million yuan respectively [3] Fund Flow Rankings - The top inflow stocks in the construction decoration sector included: - Shanghai Construction: +9.96%, 62% turnover, 470.50 million yuan inflow - Baile Technology: +9.93%, 6.34% turnover, 113.07 million yuan inflow - Tongji Technology: +8.00%, 9.62% turnover, 100.59 million yuan inflow [2] - The top outflow stocks included: - China Power Construction: +0.18%, 3.25% turnover, -264.47 million yuan outflow - Huilyu Ecology: +3.18%, 11.28% turnover, -68.96 million yuan outflow - China Railway: +0.18%, 0.48% turnover, -52.67 million yuan outflow [3]

Core Viewpoint - The company is optimizing its resource allocation and focusing on its core business by divesting a portion of its stake in a subsidiary to enhance sustainable operational capabilities and profitability [2] Group 1: Company Actions - The company announced the transfer of equity in its subsidiary, Changzhou Baile Lithium Battery Smart Factory Co., Ltd. (referred to as "Baile Lithium"), to further streamline operations [2] - Baile Lithium acquired a 60% stake in Wuxi Baiqing Intelligent Robot Technology Co., Ltd. (referred to as "Wuxi Baiqing") for a cash consideration of 1.2 million yuan in August 2022 [2] - Recently, Baile Lithium signed an agreement to transfer 40.1% of its stake in Wuxi Baiqing back to shareholders Zhu Yueyuan and Jia Shaohua for a nominal price of 1 yuan, reducing its ownership from 60% to 19.9% [2]

Core Viewpoint - The solid-state battery sector is gaining significant attention in the capital market as a key direction for technological upgrades in high-end manufacturing, with a notable increase in stock performance and fund values [1]. Investment Performance - As of September 12, the solid-state battery sector has seen a rise of over 17% in the past month, with several stocks such as Yinghe Technology, Shanshan Co., and Baili Technology hitting the daily limit [1]. - Funds heavily invested in the solid-state battery field have also experienced substantial gains, with the Yuanxin Yongfeng High-end Manufacturing A fund's net value increasing by over 33% as of September 11 [1]. Industry Outlook - The lithium battery industry is currently in a bottoming phase, with the solid-state battery's industrialization process approaching. The profitability of the supply chain is expected to confirm a bottom recovery by the third quarter of 2024 [1]. - The solid-state battery sector is projected to enter a critical pilot testing phase in 2025, with mass production anticipated in 2026 [1]. - The sector is seen as having significant growth potential and long-term investment value, benefiting from national policy support and being at a crucial juncture for global energy transition and technological self-innovation [1].