Core Viewpoint - Ningbo Changyang Technology Co., Ltd. has announced the initiation of foreign exchange hedging activities to mitigate risks associated with currency fluctuations and improve the efficiency of foreign exchange fund utilization [1][2]. Group 1: Necessity of the Business - The company primarily conducts export transactions in foreign currencies such as USD, making it susceptible to exchange rate fluctuations that can impact operational performance [2]. - The foreign exchange hedging activities aim to prevent adverse effects from currency volatility, enhance the efficiency of foreign exchange funds, and reduce financial costs [2]. - The hedging activities will include various products such as forward foreign exchange contracts, foreign exchange swaps, and other foreign exchange derivatives, with a maximum amount of $50 million or equivalent [2]. Group 2: Risk Analysis and Control Measures - The company acknowledges potential risks including market risk, operational risk, and default risk, and has implemented several control measures [3]. - The hedging activities are based on normal business operations and are not intended for speculative trading [3]. - The finance department will continuously monitor market information and assess risk exposure, while a specific management regulation for foreign exchange hedging has been established [3]. Group 3: Impact on the Company and Opinions - The foreign exchange hedging activities are expected to enhance the company's ability to manage foreign exchange risks, thereby protecting operational performance and profits [4]. - The supervisory board supports the initiative, confirming that it aligns with the company's development needs and complies with legal procedures [4]. - The sponsoring institution agrees with the decision, emphasizing the importance of training for staff and adherence to risk control measures to prevent speculative behavior [4].

Core Viewpoint - The article emphasizes the rapid growth and competitive landscape of high-performance membrane materials, particularly in lithium battery separators, hydrogen energy, photovoltaics, and semiconductors, with Chinese companies making significant advancements against long-standing dominance by Japanese and American firms [2]. Group 1: Overview of High-Performance Membrane Materials - High-performance membrane materials are critical for new separation technologies, characterized by energy efficiency and environmental friendliness, playing a vital role in addressing water, energy, and environmental issues [8]. - Membrane materials can be categorized into thick membranes (over 1 micron) and thin membranes (under 1 micron), with applications in water treatment, special separation, gas separation, biomedical, and battery membranes [8][11]. Group 2: Current Development Status of the Membrane Industry - The global membrane materials industry is growing at an annual rate of approximately 15%, with water treatment membranes reaching a mature stage, while special separation membranes are experiencing rapid development [11]. - By 2019, the membrane industry in China had nearly reached a scale of 200 billion yuan, with significant advancements in water treatment, special separation, and gas separation membranes [11]. Group 3: Market Situation of High-Performance Separation Membranes - In 2022, China's membrane industry total output value is expected to exceed 860 billion yuan, with a compound annual growth rate of about 10% from 2022 to 2027 [20]. - The market structure of membrane products in China shows that reverse osmosis and nanofiltration membranes account for 50%, while ultrafiltration and microfiltration membranes each account for 10% [20]. Group 4: Competitive Landscape of the Membrane Industry - The membrane industry value chain includes research and development of membrane materials, production of membrane components, manufacturing of membrane equipment, and system integration, with the highest value contribution from upstream material development [21]. - The competitive landscape features a mix of domestic and international players, with significant market shares held by companies like Shanghai Thinker and Xingyuan Material in the lithium battery separator market [47]. Group 5: Optical Membranes - Optical membranes are widely used in various applications, including precision optical devices, displays, and anti-counterfeiting technologies, with significant growth driven by demand in the LCD and OLED markets [24][37]. - The optical membrane market in China is projected to grow, with a market size of approximately 327.23 billion yuan in 2022, driven by technological upgrades and strong demand from local manufacturers [37]. Group 6: Lithium Battery Separators - The lithium battery separator market is rapidly expanding, with China's output volume reaching 133.2 billion square meters in 2022, accounting for over 80% of the global market share [47]. - Major players in the lithium battery separator market include Shanghai Thinker and Xingyuan Material, with significant growth in both wet and dry separator production [47]. Group 7: Aluminum-Plastic Film - The aluminum-plastic film market is expected to grow at a compound annual growth rate of 16.09%, reaching a market size of 57 billion yuan in 2022 [53]. - The supply of aluminum-plastic films is currently unable to meet domestic demand, leading to a push for domestic production to replace imports [61].

格隆汇8月26日丨长阳科技(688299.SH)发布2025年半年度报告，报告期实现营业收入5.25亿元，同比下 降18.81%；归属上市公司股东的净利润-854.73万元，同比下降150.11%；扣除非经常性损益后的归属于 上市公司股东的净利润-937.23万元，同比下降199.84%；基本每股收益-0.03元。 ...

Group 1 - The company Changyang Technology (SH 688299) announced on August 26 that it has recognized asset impairment losses and credit impairment losses totaling 35.75 million yuan for the first half of 2025, which will reduce the total profit in the consolidated financial statements for that period by the same amount [1] - For the year 2024, the revenue composition of Changyang Technology is as follows: special functional films account for 89.34%, while other businesses account for 10.66% [1] - As of the report date, the market capitalization of Changyang Technology is 5.5 billion yuan [1] Group 2 - The pet industry is experiencing a significant boom, with a market size of 300 billion yuan, leading to a surge in stock prices for industry-listed companies [1]

南财智讯8月26日电，长阳科技发布2025年半年度报告，报告期实现营业收入5.25亿元，同比下降 18.81%；归属上市公司股东的净利润-854.73万元，同比下降150.11%；扣除非经常性损益后的归属于上 市公司股东的净利润-937.23万元，同比下降199.84%；基本每股收益-0.03元。 ...

宁波长阳科技股份有限公司2025 年半年度报告 公司代码：688299 公司简称：长阳科技 宁波长阳科技股份有限公司 2025 年半年度报告 1 / 185 宁波长阳科技股份有限公司2025 年半年度报告 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 2025 年上半年，公司实现营业收入 52,529.93 万元，同比下降 18.81%，主要原因为：公司收 缩了隔膜、胶膜等低毛利率产品的销售及生产。归属于上市公司股东的净利润-854.73 万元，同比 下降 150.11%，主要原因为：公司反射膜盈利稳定，但合肥及舟山子公司固定资产及在建工程继 续计提减值损失；公司财务费用较上期同比增加。 受宏观环境、市场供需情况等影响，锂电隔膜依然存在竞争加剧导致毛利率不达预期的风险， 2025 年公司隔膜产能释放存在较大压力，后续公司相关资产仍然存在计提减值风险。 公司干法隔膜产品存在客诉，根据近期与客户的沟通情况，公司已对该客户应收账款单项计 提信用减值。后续公司若不能与该客户达成和 ...

华安证券股份有限公司 关于宁波长阳科技股份有限公司 2025年半年度募集资金存放、管理与实际使用情况的专项核查报告 2019年10月12日，经中国证券监督管理委员会"证监许可[2019]1886号" 《关于同意宁波长阳科技股份有限公司首次公开发行股票注册的批复》同意注 册，公司首次向社会公开发行人民币普通股股票70,642,200.00股，每股面值 1.00元，每股发行价格13.71元，募集资金总额为人民币968,504,562.00元，扣 除发行费用人民币111,786,359.20元（不含增值税进项税），实际募集资金净 额为人民币856,718,202.80元。上述募集资金到位情况业经立信会计师事务所 （特殊普通合伙）验证，并出具了信会师报字[2019]第ZA15720号《验资报 告》。 （二）募集资金使用和结余情况 截至2025年6月30日，长阳科技的募集资金使用及结余情况如下： 单位：人民币元 | 项目 | 金额 | | --- | --- | | 截至2024年12月31日募集资金余额 | 66,600,749.10 | | 减：2025年半年度募投项目支出 | 2,595,500.00 | | 减 ...

证券代码：688299 证券简称：长阳科技 公告编号：2025-044 关于 2025 年半年度计提资产减值准备的公告 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、计提资产减值准备情况 为客观、公允地反映公司截至 2025 年 6 月 30 日的财务状况和 2025 年 1-6 月的经营成果，宁波长阳科技股份有限公司（以下简称"公司"）依据《企业会 计准则》及公司的相关会计政策、会计估计的规定，本着审慎性原则，并聘请评 估机构，对公司 2025 年 6 月 30 日合并报表范围内的相关资产进行了减值测试， 对可能发生资产减值损失的有关资产计提减值准备。本期计提的减值准备总额为 -3,575.25 万元（损失以"-"号填列），具体情况如下： | 项目 | 本期计提减值准备金额 （万元） | 备注 | | --- | --- | --- | | 信用减值损失（损失以 | 222.11 | 应收账款、应收票据及其他应收款坏 | | "-"号填列） | | 账准备 | | 资产减值损失（损失以 | -3,797.36 | ...

证券代码：688299 证券简称：长阳科技 公告编号：2025-043 宁波长阳科技股份有限公司 关于调整隔膜投资项目的公告 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： 公司拟将"年产 6.5 亿平方米储能及动力电池用锂电隔膜项目"变更为 "年产 3.5 亿平方米储能及动力电池用锂电隔膜项目"； 一、隔膜项目投资概述 2024 年 4 月 7 日，公司第三届董事会第二十二次会议、第三届监事会第十 八次会议以全票同意的表决结果审议通过了《关于投资建设"年产 6.5 亿平方米 储能及动力电池用锂电隔膜项目"的议案》；同意公司拟通过全资子公司合肥长 阳新能源科技有限公司（以下简称"合肥新能源"）以自有资金投资人民币 14,500.80 万元建设"年产 6.5 亿平方米储能及动力电池用锂电隔膜项目"。 2023 年 5 月 11 日，公司第三届董事会第十四次会议、第三届监事会第十二 次会议以全票同意的表决结果审议通过了《关于投资建设"年产 4 亿平方米储能 和动力汽车用锂离子电池隔膜项目"的议案》，同意公司拟通 ...

证券代码：688299 证券简称：长阳科技 公告编号：2025-041 宁波长阳科技股份有限公司 关于开展外汇套期保值业务的公告 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： 公司的外汇套期保值业务以正常生产经营为基础，以规避和防范汇率风 险为目的，不进行单纯以盈利为目的的投机和套利交易； 公司拟开展的外汇套期保值业务资金额度不超过 5,000 万美元或其他等 值货币，预计动用的交易保证金和权利金上限（包括为交易而提供的担保物价值、 预计占用的金融机构授信额度、为应急措施所预留的保证金等）则不超过 50 万 美元或其他等值货币。额度有效期为自公司董事会审议通过之日起 12 个月，在 上述期限和额度范围内，可循环滚动使用。资金来源为自有资金，不涉及募集资 金； 本次外汇套期保值业务事项经董事会审议通过后实施，无需提交公司股 东大会审议。 2025 年 8 月 25 日，宁波长阳科技股份有限公司（以下简称"公司"）召开 第四届董事会第五次会议、第四届监事会第五次会议，审议通过了《关于开展外 汇套期保值业务的议 ...