中信证券股份有限公司 关于江苏天奈科技股份有限公司 2024 年度持续督导工作现场检查报告 上海证券交易所： 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为江苏天 奈科技股份有限公司（以下简称"天奈科技"、"上市公司"、"公司"）向特定对 象发行股票项目的保荐人，于 2023 年 1 月 17 日与公司签订保荐协议，自签署保 荐协议之日起，承接原保荐人民生证券股份有限公司尚未完成的持续督导工作。 根据《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有关法 律、法规的规定，中信证券股份有限公司对 2024 年 1 月 1 日至 2024 年 12 月 31 日（以下简称"本持续督导期间"）的规范运作情况进行了现场检查，现就现场检 查的有关情况报告如下： 一、本次现场检查的基本情况 （一）保荐人 中信证券股份有限公司 （二）保荐代表人 刘纯钦、王家骥 （三）现场检查人员 刘纯钦、胡洋、徐利成 （四）现场检查时间 2025 年 4 月 23 至 25 日、4 月 28 日至 30 日、5 月 7 日至 8 日 （五）现场检查内容 （六）现场检查手段 本次现场检查的手段主要包括资料查阅、 ...

中信证券股份有限公司 关于 江苏天奈科技股份有限公司 2022 年度向特定对象发行 A 股股票 之 上市保荐书 保荐机构（主承销商） 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 二〇二五年五月 | 声 明 | 2 | | --- | --- | | 一、发行人基本情况 | 3 | | 二、发行人本次发行情况 | 10 | | 三、本次证券发行的项目保荐代表人、协办人及项目组其他成员情况 | 12 | | 四、保荐机构及其关联方与发行人及其关联方之间的利害关系及主要业务往来情况. | 13 | | 五、保荐机构承诺事项 | 14 | | 六、本次证券发行上市履行的决策程序 | 15 | | 七、保荐机构对发行人持续督导工作的安排 | 16 | | 八、保荐机构对本次股票上市的推荐结论 | 17 | 声 明 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）受江苏天奈科技 股份有限公司（以下简称"天奈科技"、"发行人"或"公司"）的委托，担任天奈科技 2022 年度向特定对象发行 A 股股票的保荐机构。 保荐机构及保荐代表人根据《中华人民共和国公司法》《中华人民共和国证券法》 《证券发行上 ...

中信证券股份有限公司关于 江苏天奈科技股份有限公司向不特定对象发行可转换公司债券 持续督导保荐总结报告书 保荐人编号：Z20374000 申报时间：2025 年 5 月 | 公司名称 | 江苏天奈科技股份有限公司 | | --- | --- | | 公司简称 | 天奈科技 | | 证券代码 | 688116.SH | | 注册资本 | 万元 34474.1494 | | 注册地址 | 江苏省镇江市镇江新区青龙山路 113 号 | | 法定代表人 | TAO ZHENG（郑涛） | | 经营范围 | 纳米材料（纳米碳管、石墨烯）及其复合材料的研发、生产及销售本 | | | 公司自产产品；提供本公司技术的技术服务、技术咨询、技术培训、 | | | 技术转让。（依法须经批准的项目，经相关部门批准后方可开展经营活 | | | 动） | 一、发行人基本情况 二、本次发行情况概述 根据中国证券监督管理委员会《关于同意江苏天奈科技股份有限公司向不特 定对象发行可转债注册的批复》（证监许可〔2021〕3679 号），江苏天奈科技股 份有限公司（以下简称"天奈科技"或"公司"或"上市公司"）由主承销商民 生证券股份有限公司采用 ...

| 证券代码：688116 | 证券简称：天奈科技 | 公告编号：2025-038 | | --- | --- | --- | | 转债代码：118005 | 债券简称：天奈转债 | | 江苏天奈科技股份有限公司 关于向特定对象发行 A 股股票发行结果暨股本变动公告 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： 江苏天奈科技股份有限公司（以下简称"公司"或"天奈科技"）本次发行 新增股份 21,674,342 股已于 2025 年 5 月 14 日在中国证券登记结算有限责任公司 上海分公司办理完毕股份登记手续。本次发行新增股份为有限售条件流通股，本 次发行新增股份在其限售期届满的次一交易日起在上海证券交易所科创板上市 交易（预计上市时间如遇法定节假日或休息日，则顺延至其后的第一个交易日）。 本次向特定对象发行的股份自发行结束之日起六个月内不得转让，限售期届满后 的转让将按《证券法》等相关法律法规及中国证券监督管理委员会（以下简称"中 国证监会"）及上海证券交易所（以下简称"上交所"）的有关规定执行。 资产 ...

| 证券代码：688116 | 证券简称：天奈科技 | 公告编号：2025-037 | | --- | --- | --- | | 转债代码：118005 | 债券简称：天奈转债 | | 江苏天奈科技股份有限公司 关于开设募集资金专户并签署募集资金专户存储监管 协议的公告 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。 一、募集资金基本情况 根据中国证券监督管理委员会于 2024 年 9 月 3 日出具的《关于同意江苏天 奈科技股份有限公司向特定对象发行股票注册的批复》（证监许可〔2024〕1237 号），同意公司向特定对象发行 A 股股票（以下简称"本次发行"或"本次向 特定对象发行"）。公司本次向特定对象发行人民币普通股 21,674,342 股，发行 价格为每股人民币 36.91 元，共募集资金人民币 799,999,963.22 元，扣除不含税 发行费用人民币 12,883,655.03 元，实际募集资金净额为人民币 787,116,308.19 元。上述资金到位情况已经天健会计师事务所（特殊普通合伙）审验，并出具 ...

江苏天奈科技股份有限公司 2024 年年度股东大会会议资料 2025 年 5 月 江苏天奈科技股份有限公司 2024 年年度股东大会会议资料 证券代码：688116 简称：天奈科技 江苏天奈科技股份有限公司 2024 年年度股东大会会议资料 2024 年年度股东大会 目录 | 2024 | 年年度股东大会会议须知 | 1 | | --- | --- | --- | | 2024 | 年年度股东大会投票议程 3 | | | | 议案一：关于公司 2024 年年度报告及摘要的议案 | 5 | | | 议案二：关于公司 2024 年度董事会工作报告的议案 | 6 | | | 议案三：关于公司 2024 年度独立董事述职报告的议案 | 16 | | | 议案四：关于公司 2024 年度财务决算报告的议案 | 17 | | | 议案五：关于公司 年度财务预算报告的议案 2025 | 22 | | | 议案六：关于公司 2024 年度利润分配方案的议案 | 24 | | | 议案七：关于公司 年度向银行申请综合授信额度的议案 2025 | 26 | | | 议案八：关于变更注册资本、取消监事会及修改《江苏天奈科技股份有限 ...

Group 1 - The company announced an issuance of A-shares to specific investors, resulting in an increase in total share capital and a dilution of the controlling shareholder's and actual controller's shareholding ratio to 19.57% [1] - Prior to the equity change, the controlling shareholder and actual controller held a total of 71.6988 million shares, accounting for 20.80% of the company's total share capital [1] - The number of shares held by the controlling shareholder and actual controller remains unchanged, but their ownership percentage has decreased [1]

Investment Rating - Investment rating for the power equipment industry is "Positive" (maintained) [2] Core Insights - The European electric vehicle market shows a significant recovery trend in 2025, with April sales reaching 211,000 units, a year-on-year increase of 30.7% [7][16] - The penetration rate of new energy vehicles in Europe reached 26.3%, up by 6.4 percentage points year-on-year [16] - The German electric vehicle market is recovering significantly, with BEV sales in April 2025 increasing by 53.5% year-on-year [17] - The EU Parliament has passed a carbon emission assessment amendment, delaying the tightening of carbon emission targets but maintaining the overall trend [47] Summary by Sections 1. European New Energy Vehicle Sales - In April 2025, sales of new energy vehicles in nine European countries reached 211,000 units, a year-on-year increase of 30.7% [7][16] - Germany's BEV sales reached 46,000 units in April, up 53.5% year-on-year, while PHEV sales increased by 60.7% [17] - The UK saw BEV sales of 25,000 units in April, a year-on-year increase of 8.1%, despite an overall decline in traditional vehicle sales [24] - France's BEV sales were 26,000 units in April, up 2.3% year-on-year, with expectations for stronger sales post-September due to the return of the social leasing plan [29] - Norway's BEV penetration rate reached 97% in April, moving closer to the 100% target [37] - Italy's BEV sales increased by 105.2% year-on-year in April, attributed to a low base effect [39] - Spain's BEV sales rose by 77.9% year-on-year in April, supported by extended subsidies and tax reductions [43] 2. EU Carbon Emission Assessment Amendment - The EU Parliament voted to change the carbon emission assessment from a 2025 target to an average over 2025-2027, delaying the timeline but not altering the overall trend [47] 3. Investment Recommendations - Recommended investments in lithium batteries include Ningde Times, Yiwei Lithium Energy, and Xinneng Technology [48] - For lithium materials, recommended companies include Hunan Youneng and Zhongwei Co., with beneficiaries like Fulin Precision and Wanrun New Energy [48] - Beneficiaries in lithium battery structural components include Keda Li and Minglida [48] - Recommended companies for power/electric drive systems are Weimaisi and Fute Technology [48] - Beneficiaries in automotive safety components include Zhongrong Electric and Zhejiang Rongtai [48]

Investment Rating - The investment rating for the company is "Buy-A" (maintained) [1] Core Views - The company achieved a revenue of 1.45 billion yuan in 2024, a year-on-year increase of 3.1%, with a net profit of 250 million yuan, a decrease of 15.8% year-on-year. The non-recurring net profit was 240 million yuan, an increase of 13.6% year-on-year. In Q1 2025, the company reported a revenue of 330 million yuan, a year-on-year increase of 9.0%, and a net profit of 60 million yuan, a year-on-year increase of 8.1% [3][4] - The single-walled carbon nanotube slurry has started to be shipped, which is expected to enhance profitability. The revenue from carbon nanotube conductive slurry in 2024 was 1.44 billion yuan, a year-on-year increase of 5.8%, with a gross margin of 35.1%, up 1.34 percentage points year-on-year [4][5] - The demand for carbon nanotube (CNT) industry is growing rapidly, with the company maintaining a market share of 53.2% in China for carbon nanotube conductive slurry in 2024, an increase of 6.5 percentage points from 2023. The compound annual growth rate (CAGR) for the period from 2024 to 2030 is expected to be 26.7% [5] Financial Performance - The company is projected to achieve net profits of 440 million yuan, 690 million yuan, and 850 million yuan for the years 2025, 2026, and 2027, respectively, corresponding to a dynamic price-to-earnings (P/E) ratio of 36 times in 2025. The main business profitability is stable, and the new single-walled carbon nanotube products are expected to be a significant growth driver [6] - The financial data shows that the company’s revenue is expected to grow from 1.45 billion yuan in 2024 to 2.03 billion yuan in 2025, representing a year-on-year growth of 40.3% [9][10]

Investment Rating - The investment rating for the company is "Buy-A" (maintained) [1][6] Core Views - The company has started shipping single-walled carbon nanotubes, leading to a recovery in profitability. The revenue from carbon nanotube conductive paste reached 1.44 billion yuan in 2024, a year-on-year increase of 5.8%, with a gross margin of 35.1% [4][6] - The demand for carbon nanotubes is growing rapidly, with the company maintaining a market share of 53.2% in China for carbon nanotube conductive paste in 2024, an increase of 6.5 percentage points from 2023 [5][6] Financial Performance - In 2024, the company achieved operating revenue of 1.45 billion yuan, a year-on-year growth of 3.1%, and a net profit attributable to shareholders of 250 million yuan, a decrease of 15.8% [3][9] - For Q1 2025, the company reported operating revenue of 330 million yuan, a year-on-year increase of 9.0%, and a net profit of 60 million yuan, up 8.1% [3][9] - The estimated revenue for 2025 is projected to be 2.03 billion yuan, reflecting a year-on-year growth of 40.3% [9] Market Outlook - The compound annual growth rate (CAGR) for carbon nanotube conductive agents is expected to be 26.7% from 2024 to 2030, driven by advancements in fast-charging technologies and new battery technologies [5][6] - The company is expected to ship 90,000 to 100,000 tons of multi-walled carbon nanotube paste and over 10,000 tons of single-walled and mixed paste in 2025, indicating a positive outlook for profitability [4][6]