Core Viewpoint - The solid-state battery concept stocks experienced a significant surge, with Jinlongyu hitting the daily limit, driven by positive developments in the industry and announcements from Guoxuan High-Tech [1] Group 1: Stock Performance - Jinlongyu saw a limit-up in its stock price during the afternoon session [1] - Guoxuan High-Tech, Lingpai Technology, Wanrun New Energy, and Lingge Technology all rose over 5% [1] - Other companies such as Shanghai Washba, Better Ray, and Zhenhua New Materials also experienced gains [1] Group 2: Industry Developments - Guoxuan High-Tech held the 2025 Global Technology Conference, where it announced the completion of a 0.2 GWh pilot line for solid-state batteries [1] - The company introduced six new products, including the G-Yuan quasi-solid-state battery [1] - The quasi-solid-state battery has already been tested by more than four customers [1]

日度报告——综合晨报 4 月经济数据同比回落 [T报ab告le_日R期an：k] 2025-05-20 宏观策略（外汇期货(美元指数)） 美联储官员频频为降息泼冷水 特朗普和普京的谈话结束，特朗普表态俄乌立刻谈判，但是分 歧存在的情况下，预计难以实现。 宏观策略（股指期货） 中国 4 月经济数据同比回落 综 4 月份经济数据同比增速回落，反映出外部冲击和内需走弱的双 重压力。下一阶段政策应竭力呵护房地产市场，持续巩固"止 跌回稳"态势，缓解居民资产收缩压力，释放消费潜力。 合 农产品（豆粕） 晨 美豆种植率高于预期 报 巴西 CNF 升贴水继续下降，国内进口大豆成本随之下行。随着 进口大豆到港及油厂开机增加，上周豆粕库存继续小幅上升， 昨日沿海豆粕现货报价以下跌为主。 有色金属（铜） 中国 4 月未锻轧铜及铜材进口量同比增加 0.2% 短期美元指数承压运行而支撑铜价，但国内基本面阶段转弱预 期升温而抑制铜价，总体上，铜价短期震荡偏弱运行可能性更 大。 能源化工（原油） 欧盟或向 G7 提议将俄罗斯石油价格上限降至 50 美元/桶 油价窄幅波动。 | 杨云兰 | 高级分析师 （农产品） | | --- | -- ...

Key Points - The article highlights various significant announcements from companies, including revenue growth, investment projects, and share buybacks [1][2] Company Announcements - Baili Electric's revenue from related businesses in 2024 will account for less than 1% of the company's total revenue [1] - Taihe Co., Ltd. plans to invest up to $150 million in a pesticide and functional chemicals project in Egypt [1] - Huakang Clean is expected to win a bid for the renovation of the second inpatient building at West China Hospital of Sichuan University [1] - YTO Express reported a revenue of 5.755 billion yuan from express products in April, a year-on-year increase of 16.32% [1] - Shentong Express reported a revenue of 4.118 billion yuan from express services in April, a year-on-year increase of 16.39% [1] - Kangping Technology plans to acquire 100% equity of Souluke Electronics for 198 million yuan [1] - Hexing Packaging intends to repurchase shares worth between 50 million to 100 million yuan [1] - Guangxi Media's controlling shareholder and its concerted parties plan to reduce their holdings by no more than 1% [1] - Huading Co., Ltd. plans to reduce its holdings by no more than 3% [1] - Jingu Co., Ltd. received a notification from a leading global new energy vehicle company [1] - Wanrun New Energy signed a business cooperation agreement with CATL, expecting a total supply volume of approximately 1.3231 million tons [1][2] Investment Projects - Huaheng Biological plans to invest 320 million yuan in an "AI Precision Fermentation and Protein Engineering Shared Demonstration Project" [1] Share Buybacks - Kesi Technology plans to repurchase shares worth between 30 million to 50 million yuan [1] - Zhaoxun Media intends to repurchase 1.66% to 3.33% of its shares [2]

Core Viewpoint - The article summarizes significant announcements from various listed companies in the Shanghai and Shenzhen stock markets, providing insights for investors on recent corporate actions and developments. Group 1: Corporate Announcements - Kweichow Moutai's shareholders approved a profit distribution plan for 2024, proposing a cash dividend of 276.24 yuan per 10 shares, totaling 34.672 billion yuan [3] - Weir Shares plans to change its name to "Haowei Group" and its stock abbreviation to "Haowei Group," pending shareholder approval [4] - Weili intends to transfer 100% equity of its subsidiary Dunhua Zhongneng to Chengfa Environment for a total consideration of approximately 323 million yuan [6] - Wanrun New Energy signed a business cooperation agreement with CATL to supply lithium iron phosphate products, with an estimated total supply of about 1.3231 million tons from 2025 to 2030 [7] - Shouhua Gas plans to purchase bauxite resources through market means, with a financing application of up to 2 billion yuan [8] Group 2: Regulatory and Compliance - Gao Neng Environment received an administrative regulatory decision from the Beijing Securities Regulatory Bureau due to insufficient impairment testing and inaccurate disclosures [9] - ST Shilong applied to revoke its other risk warning status, indicating compliance with relevant regulations [14] Group 3: Mergers and Acquisitions - Huixin Electronics plans to acquire 67.91% of Baode Computer through a combination of cash and stock issuance, enhancing its position in the IT infrastructure sector [19] - Kangping Technology intends to acquire 100% of Sulu Electronics for 198 million yuan to expand its electric tools business [23] - Xinjiang Haoyuan plans to change its name to "Wanqing Energy" to better reflect its business structure [26] Group 4: Financing and Investments - Shanghai Xinyang plans to invest 30 million yuan in the establishment of the Qixin Fund, focusing on high-tech sectors [12] - Taihe Co. intends to invest up to 150 million USD (approximately 1.082 billion yuan) in a pesticide and functional chemicals project in Egypt [28] Group 5: Strategic Partnerships and Contracts - Dongzhu Ecology signed a 3.5 billion yuan EPC contract for land consolidation in Laos [30] - Youa Co. signed a strategic cooperation framework agreement with Changsha Guokong Capital and Tsinghua Electronics Institute to promote the semiconductor industry [32] Group 6: Shareholder Actions - Wanfeng Co. plans to reduce its stake by up to 1.75% through block trading [35] - Tuoershi's controlling shareholder intends to reduce its stake by up to 2% [36]

每经记者｜吴泽鹏 每经编辑｜杨夏 5月19日晚间，万润新能（688275.SH，股价36.81元，市值46.42亿元）发布公告，称近日与宁德时代 （300750.SZ，股价260元，市值11448.83亿元）签订协议，由公司向宁德时代提供磷酸铁锂产品，2025 年5月至2030年预计总供货量约132.31万吨。 《每日经济新闻》记者查询到，万润新能去年的磷酸铁锂出货量为22.82万吨，销售收入约为72.67亿 元，占主营业务收入的98.93%。 而电池龙头宁德时代近期与不少车企签订协议，例如2月份公司与福特汽车签订5年供货协议，锁定2026 年至2030年磷酸铁锂电池稳定供应，近日又宣布与本田中国签署深化合作备忘录，双方展开全方位升级 合作的领域包括磷酸铁锂电池等。而在供应端，除了万润新能外，记者还查询到，今年1月，宁德时代 与龙蟠科技（603906.SH，股价11.08元，市值73.69亿元）签订了不限于磷酸铁锂的采购协议，采购上限 70亿元。 有观点认为，在动储市场带动下，磷酸铁锂成为国内外车企、业主更为青睐的技术路线，上游磷酸铁锂 正极材料供应商因此成为"拿单大户"。 中银证券研报针对磷酸铁锂的深度研报 ...

Group 1 - Huawei officially launched its Harmony OS computers, with the first foldable model priced at 23,999 yuan and the MateBook Pro starting at 7,999 yuan, marking a significant expansion into the desktop ecosystem [1] - The Harmony OS 5 aims to deepen the integration between mobile and desktop environments, showcasing a foldable design with an 18-inch display that folds to 13 inches, weighing only 1.16 kg [1] Group 2 - The State Administration of Foreign Exchange reported a positive trend in foreign investment in RMB assets, with foreign investors increasing their holdings of domestic bonds by 10.9 billion USD in April [2] - In late April, foreign investment in domestic stocks turned into net purchases, indicating a growing confidence in the Chinese market [2][3] Group 3 - Xinhua Insurance has been approved to participate in the third batch of long-term investment reform pilot programs, planning to establish the Honghu Fund Phase III, which has received regulatory approval [4] - This marks the third consecutive phase of the Honghu Fund initiated by Xinhua Insurance, reflecting a commitment to long-term investment strategies [4] Group 4 - Despite triggering "serious abnormal fluctuations," Chengfei Integration has seen its stock price rise for nine consecutive trading days, with a cumulative increase of 135.8% since May 7 [6] - The company has a low revenue contribution from its core aviation parts business, indicating that its recent stock performance may be driven more by market speculation than fundamental business strength [6][7] Group 5 - At least six rare earth material companies have received export licenses from the Ministry of Commerce, amid ongoing export control measures on certain rare earth elements [7] - The supply of rare earths may face short-term reductions due to various factors, although industry experts predict that prices will not experience significant fluctuations this year [7] Group 6 - The U.S. stock market experienced a collective decline, with major indices falling due to Moody's downgrade of the U.S. credit rating, impacting technology stocks significantly [8] - Notable declines were observed in major tech stocks, with Tesla dropping over 3% and other companies like Nvidia and TSMC also experiencing losses [8] Group 7 - The UK is expected to agree to restart trade and defense cooperation with the EU, marking a significant shift in relations since Brexit [9] - This move aims to boost economic growth and enhance security in the European region [9] Group 8 - The U.S. Congress is reviewing President Trump's comprehensive tax reduction bill, which has passed a key committee, but still faces challenges ahead [10][11] - The House Rules Committee is set to review the bill, with a potential vote expected later in the week [11][12] Group 9 - Ctrip's report indicates a strong recovery in the tourism sector for the upcoming Dragon Boat Festival, with domestic and inbound travel showing significant growth [14] - The report highlights a 100% increase in hotel search interest for inbound travel, suggesting a robust rebound in the tourism industry [14]

Core Viewpoint - Wanrun New Energy has signed a business cooperation agreement with CATL to supply approximately 1.32 million tons of lithium iron phosphate products from May 2025 to 2030, with a commitment from CATL to purchase at least 80% of the agreed amount monthly [1] Group 1: Company Overview - Wanrun New Energy, established in 2010, focuses on the research and production of new energy battery cathode materials and their precursors, becoming a leading player in the lithium iron phosphate cathode material sector in China [1] - The company's main products include lithium iron phosphate, iron phosphate, and sodium-ion battery cathode materials, widely used in power batteries for electric vehicles and energy storage [1] Group 2: Product Performance - In 2024, Wanrun New Energy's lithium iron phosphate product shipment reached 228,200 tons, representing a year-on-year growth of 39.07%, with both production capacity and sales scale ranking among the industry leaders [1] - High-density lithium iron phosphate is a high-performance cathode material that can achieve a packing density of over 2.6 g/cm³, with some advanced products exceeding 2.7 g/cm³, significantly enhancing battery energy density and fast charging performance [1] Group 3: Industry Trends - The demand for energy density optimization has become a focal point in the industry due to the increasing requirements for range and charging efficiency in electric vehicles [1] - The high-density lithium iron phosphate technology is viewed as a new competitive edge, with leading domestic companies having developed to the fourth generation of this technology and entering customer validation stages [1]

湖北万润新能源科技股份有限公司 关于与宁德时代新能源科技股份有限公司签订日常 经营重大合同的公告 合同履行期限：本协议期限为 5 年（2025 年 5 月 1 日至 2030 年 5 月 1 日），到期前三个月双方可协商合同顺延事宜； 对公司当期业绩的影响：本协议为公司日常经营相关的销售合同，签订 本协议有助于公司与下游客户建立长期合作关系，促进公司未来产品的稳定销 售，有利于提升公司的持续经营能力、核心竞争力和市场占有率，为后续经营发 展提供有力保障，符合公司发展战略规划和全体股东的利益。若本协议顺利履行， 将对公司当期及未来经营业绩产生积极影响； 证券代码：688275 证券简称：万润新能 公告编号：2025-019 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： 合同类型：日常经营销售合同； 合同数量：湖北万润新能源科技股份有限公司（以下简称"公司"）自 2025 年 5 月起按照协议约定供应量向宁德时代新能源科技股份有限公司（以下 简称"宁德时代"）提供符合要求的磷酸铁锂产品，2025 年 5 月- ...

Group 1 - Company Weili plans to transfer 100% equity of its wholly-owned subsidiary Dunhua Zhongneng Environmental Power Co., Ltd. to Chengfa Environment for a total consideration of approximately 323 million yuan, which includes a transfer price of 100 million yuan and shareholder loans of about 223 million yuan [3] - Company Wanrun New Energy has signed a business cooperation agreement with CATL to supply lithium iron phosphate products, with an estimated total supply of approximately 1.32 million tons from May 2025 to 2030, and a commitment for monthly procurement of at least 80% of the agreed supply [4] - Company Shouhua Gas intends to purchase bauxite resources through market-based methods, with a purchase amount not exceeding 30% of the latest audited total assets or 100% of net assets within 12 months [5] Group 2 - Company Gaon Environment received an administrative regulatory decision from the Beijing Securities Regulatory Bureau due to insufficient basis for goodwill impairment and inaccurate disclosure of related party transactions, resulting in a warning letter issued to the company and its key personnel [6] - Company Hongxin Electronics' subsidiary signed two contracts for computing power services and hardware procurement, with total contract amounts of 177 million yuan and 385 million yuan respectively, enhancing the company's market share in the AI business [7] - Company Shanghai Xinyang plans to invest 30 million yuan in the establishment of the Qixin Fund, focusing on investments in semiconductor, integrated circuits, AI, new materials, and advanced manufacturing sectors [8] Group 3 - Company Baiyunshan's subsidiary Guangzhou Pharmaceutical will be listed on the New Third Board starting May 20, 2025 [9] - Company Jincheng signed a service agreement for underground mining operations at the Komakau Copper Mine, with a total contract value of approximately 805 million USD over a five-year period [11] - Company Dongzhu Ecology signed an EPC general contracting agreement worth approximately 3.5 billion yuan for a land consolidation project in Laos, with a contract duration of three years [12] Group 4 - Company Youa signed a strategic cooperation framework agreement with Changsha Guokong Capital and Tsinghua Electronics Institute to promote the semiconductor industry upgrade in Changsha [13] Group 5 - Company Wanfeng plans to reduce its shareholding by up to 1.75% through block trading [15] - Company Hexing Packaging intends to repurchase shares worth between 50 million to 100 million yuan for employee stock ownership plans, with a maximum repurchase price of 4.67 yuan per share [17] - Company Zhaoxun Media plans to repurchase shares worth between 100 million to 200 million yuan for employee stock ownership plans, with a maximum repurchase price of 14.8 yuan per share [18]

中国经济网北京5月19日讯万润新能(688275.SH)今日收报36.81元，跌幅2.08%。该股目前处于破发状 态。 万润新能于2022年9月29日在上交所科创板上市，公开发行2130.3795万股，发行价格299.88元/股，保荐 机构为东海证券股份有限公司，保荐代表人为盛玉照、江成祺。 万润新能于2023年5月24日披露的2022年年度权益分派实施公告显示，本次利润分配及转增股本以方案 实施前的公司总股本85,215,178股为基数，每股派发现金红利3.52元(含税)，以资本公积金向全体股东每 股转增0.48股，共计派发现金红利299,957,426.56元，转增40,903,285股，本次分配后总股本为 126,118,463股。本次权益分派股权登记日为2023年5月30日，除权除息日为2023年5月31日。 上市首日，万润新能盘中创下最高价259.99元，为该股上市以来最高价。 万润新能首次公开发行股票募集资金总额638,858.20万元，扣除发行费用后，募集资金净额为614,562.26 万元。该公司最终募集资金净额比原计划多48.84亿元。万润新能于2022年9月23日披露的招股说明书显 示，该 ...