Core Insights - The first large-capacity all-solid-state battery production line in China has been completed and is currently undergoing small-scale testing [1] - The all-solid-state battery technology is seen as a significant breakthrough in addressing "range anxiety" and "safety concerns" in the electric vehicle industry [1] - The energy density of the newly developed all-solid-state battery is nearly double that of existing batteries, enabling vehicles with over 500 kilometers of range to achieve more than 1000 kilometers [1] Industry Developments - Currently, no company globally has commercialized all-solid-state batteries, but several companies have set timelines for production and testing [2] - Companies like CATL and Changan Auto plan to achieve vehicle integration by 2027, with Changan's battery safety improved by 70% compared to liquid batteries [2] - The industry is expected to see a peak in pilot production lines in 2026, with small-scale commercialization anticipated by 2027 and a potential market scale of 100 GWh by 2030 [2] Technological Advancements - The transition from laboratory to pilot production for all-solid-state batteries is accelerating, with multiple companies initiating pilot line construction [3] - Key challenges include material systems, manufacturing processes, and cost reduction, with ongoing engineering validation of core processes [3] - The demand for equipment is expected to rise as pilot lines transition to GWh-level production, benefiting equipment manufacturers [3] Company Updates - SAIC Group has achieved full connectivity of its all-solid-state battery production line in Shanghai and plans to conduct vehicle testing in 2023 [4] - Penghui Energy has established its pilot line for solid-state batteries, with results pending further evaluation [4] - Baichuan Co. is monitoring the development of solid-state battery technology but has not yet initiated mass production [4] - The Chinese Association for Science and Technology emphasizes the need to overcome technical bottlenecks in manufacturing costs and lifecycle for solid-state batteries [4]

Core Viewpoint - The stock price of Funeng Technology has experienced a decline of 2.05% on November 20, with a current price of 17.17 CNY per share, reflecting a total market capitalization of 20.984 billion CNY. The company has seen a significant increase in stock price by 48.02% year-to-date, but has faced recent declines over various trading periods [1][2]. Financial Performance - For the period from January to September 2025, Funeng Technology reported a revenue of 6.564 billion CNY, which represents a year-on-year decrease of 28.74%. The net profit attributable to shareholders was -385 million CNY, marking a decline of 26.89% compared to the previous year [2]. Stock Market Activity - As of November 20, the trading volume for Funeng Technology was 166 million CNY, with a turnover rate of 0.78%. The net outflow of main funds was 12.44 million CNY, with large orders showing a buy of 425.08 million CNY and a sell of 464.96 million CNY [1]. Company Overview - Funeng Technology, established on December 18, 2009, and listed on July 17, 2020, is located in the Jiangxi Province. The company specializes in the research, production, and sales of lithium-ion power batteries and battery systems for new energy vehicles. The main business revenue is composed of 96.47% from power battery systems and 3.53% from other sources [1]. Shareholder Information - As of September 30, the number of shareholders for Funeng Technology reached 30,800, an increase of 18.64% from the previous period. The average number of circulating shares per shareholder decreased by 15.71% to 39,717 shares [2]. Industry Classification - Funeng Technology is classified under the Shenwan industry category of electric power equipment, specifically in the battery and lithium battery sectors. The company is also associated with concepts such as mid-cap, new energy vehicles, energy storage, ternary lithium, and lithium iron phosphate [1].

Group 1 - The core viewpoint of the article is that Funeng Technology is actively expanding its energy storage business by leveraging its proprietary technology to develop high-capacity energy storage cells, addressing issues related to battery swelling and enhancing the lifespan of soft-pack cells [2] - Funeng Technology has successfully developed energy storage solutions that combine cost advantages and modular flexibility, applicable across various scenarios including grid-side storage, commercial and industrial storage, and residential storage [2] - The company plans to accelerate the research and industrialization of solid-state batteries by changing the implementation主体 of its high-energy, high-safety solid-state battery development project to include its wholly-owned subsidiary, Guangzhou Funeng Technology Co., Ltd [2] Group 2 - The total scale of the "Technology Reserve Fund" project is 500 million yuan, which includes four sub-projects, with the high-energy, high-safety solid-state battery development being one of the core directions [2] - The adjustment in project implementation aims to utilize subsidiary resources to expedite the construction of pilot lines and industrialization, without changing the total investment amount, business direction, or implementation method [2]

Core Viewpoint - The article discusses the recent developments and strategic initiatives of Funeng Technology in the solid-state battery sector, highlighting its plans for production and collaboration with various partners to enhance its technological capabilities and market presence [2][3][4]. Group 1: Project Developments - Funeng Technology announced on November 18 that it will accelerate the research and industrialization of solid-state batteries by adding its wholly-owned subsidiary, Guangzhou Funeng Technology, as a project implementation entity for the "high energy density, high safety solid-state battery development" project. This change does not affect the total investment amount or the project's business direction [2]. - The company plans to achieve mass production of its third-generation semi-solid batteries by 2026, with solid-state battery production capacity expanding to GWh levels by 2026 and small-scale production expected in 2027, aiming for large-scale production by 2030 [2][3]. Group 2: Technological Advancements - Funeng Technology has completed the first generation of sulfide solid-state battery samples and developed the second generation, which features a lithium-rich manganese-based/high-nickel ternary positive electrode and lithium metal negative electrode, achieving an energy density of 500 Wh/kg. The company aims to establish a 0.2 GWh sulfide solid-state battery pilot line by the end of this year [3]. - The semi-solid battery production capacity is planned to expand from 55 GWh in 2023 to 100 GWh in 2024, indicating significant growth in production capabilities [2]. Group 3: Collaborations and Applications - Funeng Technology is collaborating with Jiangling Motors to develop a super soft-pack power battery solution, which will enhance Jiangling's new energy electric platform and support the creation of new energy vehicles [3]. - The company has also supplied its second-generation semi-solid eVTOL battery to Shanghai Times Technology for the E20 model and is set to provide next-generation prototype high-voltage power batteries to Xiaopeng Huitian [4].

证券日报网讯 11月18日晚间，孚能科技发布公告称，为加速公司全固态电池研发及产业化进展，加快 全固态电池中试线建设进度，公司拟增加2021年度向特定对象发行A股股票中科技储备资金"高比能 量、高安全性固态电池开发"项目的实施主体，以加快项目推进。本次增加募投项目实施主体为广州孚 能科技有限公司（公司全资子公司，简称"广州孚能科技"）。"高比能量、高安全性固态电池开发"项目 实施主体由公司，变更为公司和广州孚能科技。本次增加部分募投项目实施主体已经公司第三届董事会 第五次会议审议通过。为确保募集资金使用安全，公司董事会授权董事长、总经理或其指定人员全权根 据募投项目实施需要与进度办理本次新增的募投项目实施主体开立募集资金存放专用账户，并与公司、 存放募集资金的商业银行、保荐机构签署募集资金专户存储四方监管协议等有关的事宜。 （编辑 任世碧） ...

证券代码：688567 证券简称：孚能科技 公告编号：2025-058 孚能科技（赣州）股份有限公司 关于增加部分募投项目实施主体及 开立募集资金专户的公告 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： 为加速孚能科技（赣州）股份有限公司（以下简称"公司"）全固态电池研 发及产业化进展，加快全固态电池中试线建设进度，公司拟增加 2021 年度向特 定对象发行 A 股股票中科技储备资金"高比能量、高安全性固态电池开发"项 目的实施主体，以加快项目推进。 本次增加募投项目实施主体为广州孚能科技有限公司（公司全资子公司，以 下简称"广州孚能科技"）。"高比能量、高安全性固态电池开发"项目实施主 体由公司，变更为公司和广州孚能科技。 本次增加部分募投项目实施主体已经公司第三届董事会第五次会议审议通 过，公司保荐机构东吴证券股份有限公司（以下简称"保荐机构"）对本事项出 具了明确同意的核查意见，根据《上海证券交易所科创板股票上市规则》等相关 规定无需提交公司股东大会审议。 一、募集资金的基本情况 经中国证券监督管理 ...

增加部分募投项目实施主体及开立募集资金专户 的核查意见 东吴证券股份有限公司（以下简称"东吴证券"、"保荐机构"）作为孚能科技（赣 州）股份有限公司（以下简称"公司"、"孚能科技"或"发行人"）2021年向特定对象发 行A股股票的保荐机构，根据《上市公司募集资金监管规则》《上海证券交易所科创 板股票上市规则》《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运 作》等有关法律法规和规范性文件的要求，对公司增加部分募投项目实施主体及开立 募集资金专户的事项进行了核查，核查情况及核查意见如下： 一、募集资金基本情况 经中国证券监督管理委员会出具的《关于同意孚能科技（赣州）股份有限公司向 特定对象发行股票注册的批复》（证监许可[2022]1472号）同意，公司向特定对象发 行人民币普通股（A股）140,000,000股，发行价格为每股23.70元。募集资金总额 3,318,000,000.00元，扣除发行费用后，募集资金净额为3,256,480,253.05元。上述资金 已全部到位，2022年11月3日大华会计师事务所（特殊普通合伙）出具了《孚能科技 （赣州）股份有限公司发行人民币普通股（A股）14,00 ...

Core Points - The battery sector experienced a decline of 3.32% on the trading day, with Huasheng Lithium leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - Xianhui Technology (688155) closed at 64.99, up 6.56% with a trading volume of 87,100 shares and a transaction value of 567 million [1] - Copper Crown Copper Foil (301217) closed at 35.21, up 4.42% with a trading volume of 652,900 shares and a transaction value of 2.299 billion [1] - Weike Technology (600152) closed at 8.47, up 3.93% with a trading volume of 1,288,200 shares and a transaction value of 1.12 billion [1] - ST Hezhong (300477) closed at 4.13, up 3.77% with a trading volume of 2,588,000 shares and a transaction value of 1.092 billion [1] - Huazi Technology (300490) closed at 13.18, up 3.13% with a trading volume of 884,600 shares and a transaction value of 1.199 billion [1] - Funeng Technology (688567) closed at 18.37, up 2.97% with a trading volume of 366,200 shares and a transaction value of 670 million [1] - Other notable stocks include DeFu Technology (301511) and Wanli Co., Ltd. (600847) with respective closing prices of 32.31 and 13.33, showing minor increases [1] Capital Flow - The battery sector saw a net outflow of 14.868 billion from main funds, while retail investors contributed a net inflow of 10.766 billion [3] - Speculative funds recorded a net inflow of 4.102 billion into the sector [3]

Core Viewpoint - Company is actively expanding its energy storage business, leveraging innovative technologies to enhance product offerings and address industry challenges [2] Product Development - Company has developed ultra-large capacity energy storage cells using proprietary stacking technology and innovative metal soft-pack structure, providing cost-effective and modular energy storage solutions [2] - The new products address the issue of low cycle counts associated with prismatic cells while improving the calendar life of soft-pack cells [2] - The application of SPS technology extends long cycle life and excellent economic performance to various energy storage scenarios, including grid-side storage, commercial and industrial storage, and residential storage [2] - The company has established a comprehensive product matrix that covers both traditional soft-pack and metal soft-pack technologies [2]

Core Insights - The intrinsic safety and all-scenario application of power batteries are becoming focal points in the global new energy industry, especially in emerging fields like eVTOL and humanoid robots, where battery safety has evolved from a basic requirement to a decisive factor for industry development [2]. Industry Events - The 2025 Gaogong Lithium Battery Annual Conference and 15th Anniversary Celebration will be held from November 18 to 20 at the JW Marriott Hotel in Qianhai, Shenzhen [3]. - Dr. Jiang Weiran, Vice President of R&D and Overseas Business at Funeng Technology, has confirmed attendance and will share insights on soft-pack battery technology at the conference [4]. Company Developments - Funeng Technology, a leader in soft-pack batteries, has developed battery solutions covering high-end passenger vehicles, eVTOL, and robotics, leveraging the unique advantages of soft-pack batteries [6]. - In the low-altitude economy sector, Funeng has mass-produced a 285Wh/kg eVTOL battery that has undergone over 10,000 flight cycle tests and has received FAA aviation safety certification. The battery has demonstrated safety in 100% SOC puncture tests, showing no smoke, fire, or explosion [6]. - Funeng Technology is pursuing a dual development strategy for solid-state battery technology, focusing on both all-solid and semi-solid state batteries [7]. - The company has reported progress in developing all-solid-state batteries with an energy density of 400-500Wh/kg, with plans to deliver small batches of 60Ah sulfide all-solid-state batteries to strategic partners by the end of 2025. Funeng is one of the early domestic companies to initiate research in the oxide/polymer system, adhering to a high-nickel ternary positive electrode route and enhancing energy density through negative electrode mixing technology [8]. Conference Highlights - Attendees can look forward to Dr. Jiang Weiran's presentation at the Gaogong Lithium Battery Annual Conference, which will explore future paths for innovation in power battery technology. The event will also feature a 15th Anniversary Celebration, the Gaogong Golden Ball Award ceremony, the release of a blue paper, and special sessions focused on core industry topics, providing a platform for in-depth communication and collaboration among participants [9].