Summary of Key Points Core Viewpoint - On October 9, a block trade of 600,000 shares of Yema Battery was executed, amounting to 15.108 million yuan, which represented 3.88% of the total trading volume for the day. The transaction price was 25.18 yuan, reflecting an 11.9% discount compared to the market closing price of 28.58 yuan [1]. Group 1: Trading Details - The block trade involved a total of 600,000 shares at a price of 25.18 yuan per share [1]. - The total transaction value was 15.108 million yuan [1]. - The transaction accounted for 3.88% of the total trading volume on that day [1]. Group 2: Price Comparison - The executed price of 25.18 yuan was 11.9% lower than the market closing price of 28.58 yuan [1].

Core Viewpoint - The completion of the fundraising project for Yema Battery marks a significant step in enhancing its production capacity and technological upgrades, despite facing delays and challenges in the implementation process [1][4][12]. Fundraising and Project Development - Yema Battery raised approximately 5.45 billion yuan through its initial public offering, with the funds allocated to four main projects, including the construction of a research and testing center and an intelligent manufacturing center [2][4]. - The original project for expanding alkaline zinc-manganese battery production was adjusted to increase capacity from 610 million to 810 million units, with total investment rising to approximately 4.43 billion yuan [2][4]. - The project faced multiple delays, with the completion date for the research and testing center being postponed twice before finally being announced as operational on September 27, 2025 [3][4]. Capacity and Technological Challenges - The new facilities are expected to enhance Yema Battery's R&D capabilities and production efficiency, which are crucial for maintaining competitiveness in the growing alkaline battery market [4][5]. - The intelligent manufacturing center aims to improve automation and reduce reliance on manual labor, which is essential for optimizing production costs and improving profit margins [6][12]. - The alkaline battery market is experiencing a shift towards higher performance, with developed regions seeing a market share of 60% to 90% for alkaline batteries [6][12]. Financial Performance and Market Position - Yema Battery has faced challenges in profitability, with revenue growth not translating into profit increases from 2020 to 2024, and a significant drop in net profit of 55.13% in the first half of 2025 [8][9]. - The company’s management has recently sold shares, raising concerns about their confidence in the company's short-term outlook amidst declining profits [9][12]. - The transition from a traditional battery manufacturer to a green energy solutions provider is seen as essential for Yema Battery's long-term growth, especially in light of new EU regulations and domestic carbon reduction goals [10][11][12]. Future Outlook - The impact of the new facilities on Yema Battery's performance will take time to materialize, as the transition to new technologies and processes requires adaptation and market development [12]. - The company is also working on establishing a production base in Vietnam to optimize its global supply chain, although progress has been slow [11][12].

Core Viewpoint - The company, Zhejiang Yema Battery Co., Ltd., is experiencing growth in its lithium battery segment and is benefiting from the depreciation of the RMB, with a significant portion of its revenue coming from overseas markets. Group 1: Company Performance - In the first half of 2025, the company achieved a revenue of 585 million, representing a year-on-year growth of 11.21% [7] - The net profit attributable to the parent company was 30.63 million, a year-on-year decrease of 55.13% [7] - The company has accelerated the development of new products, with the production line for button-type lithium batteries completed and operational [2] Group 2: Market Position and Strategy - The company has a high overseas revenue ratio of 88.30%, benefiting from the depreciation of the RMB [3] - The main business revenue composition includes 86.16% from alkaline batteries, 8.51% from carbon batteries, and 5.20% from other sources [7] - The company is integrating new technologies such as 5G, big data, and AI into its production processes to enhance digitalization and manufacturing collaboration [2] Group 3: Stock Performance - On September 29, the stock price increased by 1.95%, with a trading volume of 203 million and a turnover rate of 2.85%, leading to a total market capitalization of 7.114 billion [1] - The average trading cost of the stock is 28.24, with the current price fluctuating between resistance at 29.10 and support at 25.50 [6] - The stock has seen a net inflow of 5.415 million today, with no significant trend in the main capital flow [5]

Core Points - The company has completed the fundraising investment project "Research and Testing Center and Intelligent Manufacturing Center Project" and is now ready for settlement [2][5] Group 1: Fundraising Overview - The company raised a total of RMB 587.45 million through its initial public offering, with a net amount of RMB 544.68 million after deducting issuance costs [3] - The initial public offering involved the issuance of 33.34 million shares at a price of RMB 17.62 per share [3] Group 2: Project Adjustments - The project "Annual Production of 610 Million Alkaline Zinc-Manganese Batteries Expansion and Technological Transformation Project" was adjusted to "Annual Production of 810 Million Alkaline Zinc-Manganese Batteries Expansion and Technological Transformation Project," increasing the total investment from RMB 253.98 million to RMB 443.13 million [4] - The adjusted project still planned to use RMB 253.98 million from the raised funds, accounting for 46.63% of the net amount raised [4] Group 3: Project Settlement - The project "Research and Testing Center and Intelligent Manufacturing Center Project" has reached the predetermined usable state as of the announcement date, meeting the settlement conditions [5] - The company decided to settle the project after it achieved the required status [5] Group 4: Investor Communication - The company will hold a half-year performance briefing on October 20, 2025, to discuss its operational results and financial status for the first half of 2025 [7][9] - Investors can submit questions for the briefing from October 13 to October 17, 2025, and the company will address common concerns during the session [7][10]

投资者可于 2025 年 10 月 13 日(星期一)至 10 月 17 日(星期五)16:00 前 登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 邮 箱 dsb@mustangbattery.com 进行提问。公司将在说明会上对投资者普遍关注的问 题进行回答。 证券代码：605378 证券简称：野马电池 公告编号：2025-035 浙江野马电池股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 会议召开时间：2025 年 10 月 20 日（星期一）11:00-12:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 浙江野马电池股份有限公司（以下简称"公司"）已于 2025 年 8 月 27 日发 布公司 2025 年半年度报告，为便于广大投资者更全面 ...

证券代码：605378 证券简称：野马电池 公告编号：2025-034 浙江野马电池股份有限公司 关于部分募集资金投资项目结项的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： ● 本次结项的募投项目名称：浙江野马电池股份有限公司（以下简称"公 司"）募集资金投资项目（以下简称"募投项目"）"研发检测中心及智能制造中 心项目"已建设完毕达到预定可使用状态，公司对该募投项目进行结项。 一、募集资金基本情况 根据中国证券监督管理委员会出具的《关于核准浙江野马电池股份有限公司 首次公开发行股票的批复》（证监许可[2021]60 号）并经上海证券交易所同意， 公司首次向社会公开发行人民币普通股（A 股）股票 3,334 万股，本次发行价格 为每股人民币 17.62 元，募集资金总额为人民币 58,745.08 万元，扣除发行费用 人民币（不含增值税）4,276.65 万元后，实际募集资金净额为人民币 54,468.43 万元。本次发行募集资金已于 2021 年 4 月 6 日全部到位，并经立信会计师事务 所（特 ...

Core Viewpoint - Yema Battery announced the resignation of independent director Yu Dechang due to personal reasons, confirming no disputes with the board [1] Summary by Relevant Sections - **Director Resignation** - Yu Dechang has submitted a written resignation report to the board, stepping down from his roles as independent director, chairman of the audit committee, and member of the compensation and assessment committee [1] - **Confirmation of No Disputes** - Yu Dechang confirmed that there are no disputes with the company's board following his resignation [1] - **Post-Resignation Status** - After resigning from the aforementioned positions, Yu Dechang will no longer hold any positions within the company or its subsidiaries [1]

浙江野马电池股份有限公司 证券代码：605378 证券简称：野马电池 公告编号：2025-033 关于公司独立董事离任的公告 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： 浙江野马电池股份有限公司（以下简称"公司"）董事会近日收到独立董事 俞德昌先生的书面辞职报告。俞德昌先生因个人原因申请辞去独立董事、董事会 审计委员会主任委员、董事会薪酬与考核委员会委员职务。俞德昌先生确认与公 司董事会不存在争议。辞去以上职务后，俞德昌先生不再担任公司及控股子公司 任何职务。 | 是否存在 | 是否继续在上 | 原定任期 | 具体职务 | 未履行完 | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 | 离任时间 | 离任原因 | 市公司及其控 | 到期日 | （如适用） | 毕的公开 | 股子 ...

Core Viewpoint - Zhejiang Yema Battery Co., Ltd. announced the resignation of independent director Yu Dechang due to personal reasons, confirming no disputes with the board [1] Group 1 - Yu Dechang has applied to resign from his positions as independent director and chairman of the audit committee [1] - The resignation is effective until a new independent director is elected at the company's shareholders' meeting [1] - Yu Dechang's original term was set to end on November 15, 2026, but he will no longer hold any positions in the company or its subsidiaries after his departure [1]

Market Overview - The A-share market saw a slight increase in the three major indices, with a focus on technology stocks, particularly in the consumer electronics, chip supply chain, and liquid cooling server sectors [1] - The total market turnover reached 2.14 trillion yuan, a decrease of 206.9 billion yuan compared to the previous day [4] Technology Sector - GPU leader Moer Thread's IPO on the Sci-Tech Innovation Board is scheduled for September 26, leading to a surge in related concept stocks [1] - Zhongke Shuguang (603019) hit the daily limit, closing at 117.51 yuan per share, with a total market value exceeding 170 billion yuan [1] - The chip supply chain remained active, with Demingli (001309) achieving a historical high with two consecutive limit-ups, and Haiguang Information rising nearly 11% to also reach a historical high [1] - SMIC's stock increased over 6%, with a latest market value of 1.03 trillion yuan and a trading volume close to 20 billion yuan, ranking first in A-shares [1] Liquid Cooling Server Concept - The liquid cooling server concept stocks experienced fluctuations but ultimately surged, with Industrial Fulian (601138) rising significantly and breaking the 70 yuan per share mark, reaching a historical high [3] Zodiac Concept Stocks - Stocks with "horse" in their names saw significant gains, with multiple stocks like Tianyi Ma (301178) and Demar Technology rising sharply [5] - The upcoming Year of the Horse in the lunar calendar has led to increased speculation in zodiac-themed stocks, following a historical trend of such stocks gaining traction in the fourth quarter [6][7] Precious Metals Sector - The gold sector saw a strong performance towards the end of the trading day, with stocks like Zhongjin Gold (600489) and Hunan Silver (002716) experiencing significant increases [4] Tourism and Hotel Sector - The tourism and hotel sector faced a downturn, with the tourism and hotel index declining, particularly for companies like Tianfu Cultural Tourism (000558) [8] - As the National Day and Mid-Autumn Festival approach, there is an increase in long-distance travel demand, with platforms reporting a notable rise in outbound travel intentions and flight bookings [10] Film and Entertainment Sector - The upcoming National Day holiday will see the release of over ten new films, indicating a trend towards sequels and IP-based productions, which may attract investor attention towards the film and cinema sector [11]