倒计时41天 2025（第十五届）高工锂电年会 暨十五周年庆典&高工金球奖颁奖典礼 主办单位： 高工锂电、高工产研（GGII） 协办单位： 卡洛维德 总冠名： 海目星激光 年会特别赞助： 大族锂电 专场冠名： 英联复合集流体、逸飞激光、华视集团、欧科工业空调 金球奖全程特约赞助： 思客琦 时间&地点： 2025年11月18-20日 深圳前海华侨城JW万豪酒店 会议合作： 陈女士 13560731836（微信同号） 近期，中国锂电设备企业海外"爆单"的趋势愈发明显，不仅体现在财务数据上，也反映了全球新能源汽车产业链的深度重构。 9月4日，先惠技术宣布收到一家全球电池行业龙头企业的定点通知，将为其匈牙利电池工厂提供产线项目。 截至2024年末，该公司在手海外订单金额已达20.6亿元人民币，占订单总额的68%；同期，其海外业务毛利率达到30%，显著高于国内市场的约 25%。 市场预计，先惠技术到2025年，海外收入占比将进一步提升至75%。 类似的情形正在多家锂电设备商上演。利元亨接连宣布了其海外业务的新进展：公司成功斩获一家波兰商用车动力电池制造商的订单，同时一条储能 模组PACK生产线已成功出货至捷克。 同期， ...

Group 1 - The "Second Golden Kylin Best Investment Advisor Selection" event is currently ongoing, with over 3,000 professional investment advisors participating in simulated trading competitions [1] - The event aims to provide a platform for investment advisors to showcase their capabilities, expand services, and enhance skills, thereby promoting the healthy development of China's wealth management industry [1] Group 2 - The top 10 stocks by purchase frequency as of September 30 include Huabang Health, Sairis, and Jina Technology, with the semiconductor ETF being the most favored [2] - The top 10 stocks by purchase amount include Sairis, Sanhua Intelligent Control, and Jiaze New Energy, indicating strong interest in these companies [3] - The data for the top purchased stocks and ETFs is based on the frequency and amount of purchases made by all participating contestants [4] Group 3 - The competition includes categories for stock simulation, on-site ETF simulation, and public fund simulation, with specific trading rules regarding holding proportions, maximum drawdown, and rebalancing frequency [5] - All data presented is based on simulated trading and does not reflect actual trading situations, serving only as a reference [5]

9月30日，杭可科技涨5.22%，截至发稿，报37.48元/股，成交2.34亿元，换手率1.06%，总市值226.26亿 元。 格林碳中和主题混合A（015856）成立日期2023年1月18日，最新规模340.78万。今年以来收益 66.56%，同类排名410/8167；近一年收益101.66%，同类排名266/8010；成立以来收益66.91%。 格林碳中和主题混合A（015856）基金经理为刘赞。 截至发稿，刘赞累计任职时间2年321天，现任基金资产总规模3.84亿元，任职期间最佳基金回报 80.86%， 任职期间最差基金回报0.01%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，浙江杭可科技股份有限公司位于浙江省杭州市萧山经济技术开发区桥南区块高新十一路77 号,浙江省杭州市萧山经济开发区高新六路298号，成立日期2011年11月21日，上市日期2019年7月22 日，公司主营业务涉及各类可充电电池,特别是锂离子电池生产线后处理系 ...

Summary of the Conference Call on Solid-State Battery Equipment Industry Industry Overview - **Industry**: Solid-State Battery Equipment - **Key Analysts**: Wang Shuai, Li Feng, Wu Shenghao, Sun Zhaoxu [1] Key Points Lithium Battery Market - By 2025, demand for lithium batteries in new energy vehicles and energy storage is expected to grow steadily. However, the industry faces an oversupply situation due to previous rapid capacity expansion, leading to sustained pressure on profitability for two years [3][3]. - Current signs indicate a price bottoming out and a slowdown in capacity expansion, which are positive for the market. The industry is showing signs of stabilization and potential upward elasticity in profitability as companies implement cost reduction and efficiency measures [3][3]. - New technologies like solid-state batteries are accelerating, potentially reshaping the competitive landscape. Companies with advantages in new technology may see a rebound first [3][3]. Solid-State Battery Development - The commercialization of solid-state batteries is expected to accelerate by 2025, driven by their high energy density, excellent safety, and adaptability to wide temperature ranges. They are likely to replace existing liquid lithium batteries in various applications and open new markets such as drones, robotics, and data centers [3][3]. - The solid-state battery supply chain is expected to see collaborative breakthroughs across various segments, including mature preparation processes for solid electrolytes and new electrode materials, leading to significant cost reductions [3][3]. - The initial phase of solid-state battery production will focus on dry electrode equipment and static pressure equipment, with increasing importance on post-processing stages as the industry matures [3][3]. Investment Recommendations - Focus on leading battery equipment manufacturers and companies with comprehensive R&D and production capabilities in solid-state batteries, such as XianDao Intelligent, Yinghe Technology, and HaiMuXing [3][3]. - Attention should also be given to companies innovating in dry coating and mixing processes, such as NaKonoer and HongGong Technology, as dry processes are expected to dominate future developments [3][3]. - As the solid-state battery trend becomes clearer, suppliers of post-processing equipment are likely to benefit, with companies like HangKe Technology and HuaZi Technology being noteworthy [3][3]. Risks - Potential risks include policy effects falling short of expectations, lower-than-expected downstream demand, unexpected fluctuations in raw material prices, macroeconomic volatility, and slower-than-expected technological advancements [3][3]. Additional Insights - The new national standard for power batteries mandates that they must not catch fire or explode, which will enhance the focus on battery safety and likely accelerate the adoption of solid-state batteries [6][9]. - Solid-state batteries significantly outperform liquid batteries in terms of thermal runaway temperatures, with solid electrolytes showing much higher thresholds for thermal stability [9][9]. - The production process for solid-state batteries involves significant changes in equipment and technology, particularly in the front-end processes of mixing, coating, and rolling, which are critical for achieving high energy density and cycle life [39][58]. Conclusion The solid-state battery equipment industry is poised for growth, driven by technological advancements and increasing safety standards. Investment opportunities exist in leading equipment manufacturers and those innovating in production processes. However, potential risks must be carefully monitored as the industry evolves.

Summary of Conference Call Notes on China Industrial Tech: Battery Equipment Industry Overview - The conference call discusses the battery equipment industry in China, particularly focusing on companies Lead Intelligent and Hangke, which have seen significant share price increases of +121% and +68% respectively over the past 19 trading days, outperforming the CSI300 index which increased by +2% [1][2]. Key Points and Arguments Market Trends - A strong recovery in domestic battery equipment orders has been observed year-to-date, following a three-year downcycle in battery capital expenditures (capex) from 2022 to 2024 [1]. - Despite the recent surge in orders, the sustainability of this improvement is questioned due to anticipated deceleration in China’s New Energy Vehicle (NEV) sales starting from 2026E [1][6]. Company Performance - Lead Intelligent reported better-than-expected progress in solid-state battery (SSB) research and development, with initial SSB-related equipment orders amounting to Rmb400-500 million, which is a significant increase from Rmb100 million in FY24, although it still represents only 4% of total orders [1][2]. - Hangke's asset impairment loss to net income ratio improved to 22% in 1H25 from 37% in the previous downcycle, leading to a revision of target price-to-earnings (P/E) ratios for both companies [2][39]. Financial Projections - Target prices for Lead Intelligent and Hangke have been revised to Rmb42.2 and Rmb22.9 respectively, reflecting a potential upside of +100% and +34% from previous estimates [2]. - Earnings forecasts for both companies remain unchanged, but Hangke has been downgraded from Neutral to Sell due to lower Tier-1 customer exposure and weaker order sustainability [2][39]. Capacity and Utilization - Battery manufacturing capacity expansion is expected to improve in 2025, but a sustained capex upcycle is not anticipated beyond that year [6]. - The overall battery industry utilization level is projected to be 72%-74% in 2025E-2026E, which is deemed insufficient to drive further capacity expansion [6]. Solid-State Battery (SSB) Insights - SSB technology is still in early stages, with significant challenges in scaling up production. Current orders for SSB equipment are primarily driven by R&D and testing rather than mass production [26][27]. - Lead Intelligent's SSB orders account for 4% of total orders, while Hangke's contribution is only 2% [34][35]. Competitive Landscape - Lead Intelligent has a higher Tier-1 customer exposure (78%) compared to Hangke (29%), which is expected to provide better market share in the solid-state battery equipment market [10][22]. - Hangke's focus on back-end equipment limits its exposure to the growing solid-state battery market, which may hinder its competitive position [45][60]. Additional Important Insights - The NEV industry in China is expected to experience growth moderation, which could impact battery demand forecasts [11][58]. - Upside risks for Hangke include potential increases in Tier-1 customer exposure and better-than-expected SSB R&D progress [58][62]. - The current share prices of both companies reflect optimistic market share expectations in the global battery equipment replacement market, with Lead Intelligent priced for a 50% market share by 2030E [33][37]. Conclusion - The battery equipment industry in China is experiencing a temporary recovery, but long-term sustainability is uncertain due to anticipated market changes and competitive dynamics. Lead Intelligent is positioned more favorably than Hangke, which faces challenges in maintaining order sustainability and market competitiveness.

Market Overview - The battery sector experienced a decline of 2.31% on the previous trading day, with Naconor leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Stock Performance - Notable gainers in the battery sector included: - Fangyuan Co., Ltd. (688148) with a closing price of 6.71, up 20.04% [1] - Huazi Technology (300490) at 12.56, up 15.44% [1] - Tianji Co., Ltd. (002759) at 16.30, up 9.99% [1] - Conversely, Naconor (832522) saw a significant decline of 7.66%, closing at 65.71 [2] - Other notable decliners included Honggong Technology (301662) down 7.47% and Kuoguli (301487) down 6.91% [2] Trading Volume and Capital Flow - The battery sector saw a net outflow of 4.296 billion yuan from institutional investors, while retail investors contributed a net inflow of 3.169 billion yuan [2][3] - The trading volume for Fangyuan Co., Ltd. reached 326,400 shares, with a transaction value of 214 million yuan [1] - Huazi Technology had a trading volume of 1,035,900 shares, with a transaction value of 1.273 billion yuan [1] Capital Inflow Analysis - Tianji Co., Ltd. (002759) had a net inflow of 478 million yuan from institutional investors, representing 30.17% of its total trading [3] - Shanshan Co., Ltd. (600884) saw a net inflow of 256 million yuan, accounting for 12.87% [3] - Conversely, Naconor experienced a net outflow of 740 million yuan from institutional investors [3]

Group 1 - The core point of the news is that Hangke Technology's stock price dropped by 5.43% to 36.08 CNY per share, with a trading volume of 554 million CNY and a turnover rate of 2.43%, resulting in a total market capitalization of 21.78 billion CNY [1] - Hangke Technology, established on November 21, 2011, and listed on July 22, 2019, specializes in the design, research and development, production, and sales of various rechargeable batteries, particularly lithium-ion battery production line post-processing systems [1] - The company's main business revenue composition includes 70.17% from charging and discharging equipment, 28.54% from other equipment, 0.83% from accessories, and 0.47% from other sources [1] Group 2 - From the perspective of fund holdings, one fund under China Europe Fund has a significant position in Hangke Technology, with the China Europe Small Cap Growth Mixed A Fund holding 149,900 shares, accounting for 0.57% of the fund's net value, ranking as the sixth-largest holding [2] - The China Europe Small Cap Growth Mixed A Fund has a current scale of 199 million CNY and has achieved a year-to-date return of 53.64%, ranking 992 out of 8171 in its category, and a one-year return of 106.93%, ranking 418 out of 8004 [2] - The fund manager, Qian Yating, has a tenure of 3 years and 329 days, with the fund's total asset scale at 2.377 billion CNY, achieving a best return of 58.45% during the tenure [3]

Core Points - The company announced a cash dividend of CNY 0.066 per share for the first half of 2025, totaling CNY 39,842,362.03 to be distributed among shareholders [2][4][6] Distribution Plan - The profit distribution plan was approved at the second extraordinary general meeting of shareholders held on September 18, 2025 [2][4] - The total share capital before the distribution is 603,672,152 shares [4] - The distribution will be made to all shareholders registered with China Securities Depository and Clearing Corporation Limited Shanghai Branch as of the close of trading on the registration date [3] Implementation Method - Cash dividends for unrestricted circulating shares will be distributed through the clearing system of China Securities Depository and Clearing Corporation Limited [5] - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [5] Taxation Details - For individual shareholders holding unrestricted circulating shares, no personal income tax will be withheld at the time of dividend distribution; tax will be calculated based on the holding period upon actual transfer of shares [8] - The effective tax burden for individual shareholders is 20% for holding periods of one month or less, 10% for holding periods between one month and one year, and exempt for holding periods over one year [8] - For Qualified Foreign Institutional Investors (QFII), a 10% corporate income tax will be withheld, resulting in a net dividend of CNY 0.0594 per share [9][10] Investor Communication - The company will hold a performance briefing on October 14, 2025, from 15:00 to 16:00 at the Shanghai Stock Exchange Roadshow Center [14][15] - Investors can submit questions for the briefing from September 29 to October 13, 2025 [16]

Group 1 - The company, Hangke Technology, announced a profit distribution plan for the first half of 2025, proposing a cash dividend of 0.066 yuan per share (including tax) [2] - The record date for the dividend is set for October 10, 2025, and the ex-dividend date is October 13, 2025 [2]

浙江杭可科技股份有限公司 证券代码：688006 证券简称：杭可科技 公告编号：2025-045 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： （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 09 月 29 日（星期一）至 2025 年 10 月 13 日（星期一） 16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 hq@chr-group.net 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。 浙江杭可科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 29 日发 布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半 年度经营成果、财务状况，公司计划于 2025 年 10 月 14 日（星期二）15:00-16:00 举行 2025 年半年度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类 ...