证券代码：688707 证券简称：振华新材 公告编号：2026-012 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个别及连带责任。 一、董事会会议召开情况 贵州振华新材料股份有限公司（以下简称"公司"）于 2026 年 2 月 27 日以 口头方式发出第七届董事会第一次会议通知，该次董事会于 2026 年 2 月 27 日下 午以现场方式召开。本次会议当日，公司已召开 2026 年第二次临时股东会，审 议通过了新一届董事会换届选举事宜，本次会议采用口头通知方式，经全体董事 同意豁免提前 3 天的通知程序。本次会议应出席董事 7 人，实际出席董事 7 人。 本次会议的召集和召开符合《中华人民共和国公司法》《上海证券交易所科创板 股票上市规则》等相关法律法规、规范性文件及《贵州振华新材料股份有限公司 章程》的有关规定，会议决议合法有效。 二、董事会会议审议情况 与会董事认真审议本次会议相关议案，以书面记名投票表决方式，形成如下 决议： （一）审议并通过《关于选举公司第七届董事会董事长的议案》 针对该议案，与会董事表决如下： 7 票赞成； ...

Group 1 - The core point of the article highlights that Zhenhua New Materials reported a significant decline in its 2025 annual performance, with operating revenue approximately 1.428 billion yuan, a year-on-year decrease of 27.16% [1] - The net profit attributable to shareholders of the listed company is reported as a loss of approximately 432 million yuan, indicating financial challenges faced by the company [1] - The basic earnings per share reflect a loss of 0.85 yuan, further emphasizing the company's current financial difficulties [1] Group 2 - The article also notes a significant development in the AI industry, stating that in February, China's AI usage surpassed that of the United States for the first time, with four major models ranking among the top five globally [1] - There is an exponential growth in demand for domestic computing power, indicating a robust trend in the AI sector within China [1]

Financial Performance - Total revenue for 2025 was RMB 142,846.82 million, a decrease of 27.16% compared to RMB 196,114.18 million in the previous year[4] - Operating profit for the period was a loss of RMB 45,553.59 million, an improvement from a loss of RMB 62,683.57 million year-on-year[4] - Net profit attributable to shareholders of the parent company was a loss of RMB 43,238.51 million, compared to a loss of RMB 52,770.63 million in the previous year[4] - Basic earnings per share were RMB -0.85, improving from RMB -1.05 year-on-year[4] Assets and Equity - Total assets decreased by 15.91% to RMB 656,727.86 million from RMB 781,025.10 million at the beginning of the period[4] - Shareholders' equity attributable to the parent company decreased by 9.76% to RMB 398,697.95 million[4] Market Conditions and Challenges - The company faced losses primarily due to shrinking market demand for existing products and low capacity utilization, leading to high fixed costs[6] Research and Development - Research and development expenses increased as the company invested in new technologies, including sodium-ion and solid-state battery materials[7] Cost Management - The narrowing of losses was attributed to effective cost control measures and a reduction in impairment losses from rising raw material prices[7] Financial Reporting - The financial data presented is preliminary and unaudited, with final results to be confirmed in the 2025 annual report[5]

Group 1 - The company has applied for multiple patents related to phosphorus-based anode materials, which are currently in the substantive examination stage [1]

Group 1 - The core viewpoint of the article is that Zhihua New Materials is unable to accurately predict the market value of solid-state electrolytes due to the instability of market pricing and demand, which are significantly influenced by technological validation progress and downstream customer acceptance [1]. Group 2 - The company acknowledges that solid-state electrolytes are considered cutting-edge materials, indicating their potential importance in future applications [1].

Group 1 - The core viewpoint of the article is that Zhihua New Materials has clarified its production capacity layout, which is entirely located within Guizhou Province [2] - The company has an existing production capacity of 42,000 tons per year at its Guiyang base, focusing on medium nickel and medium-high nickel lithium-ion battery cathode materials, as well as sodium-ion battery cathode materials [2] - The Yilong base has a production capacity of 40,000 tons per year, which includes 26,000 tons per year of high nickel ternary materials [2]

Core Viewpoint - The company has developed high nickel/ultra-high nickel materials and lithium-rich manganese-based materials suitable for solid-state battery systems, which offer higher energy density, better cycling performance, and enhanced safety [2] Group 1: Product Development - The company utilizes solid electrolyte-modified ternary materials, resulting in significant improvements in electrochemical and safety performance [2] - Some products meet the requirements of the "Safety Technical Specifications for Lithium-ion Batteries for Electric Bicycles" (GB43854-2024), specifically the criteria that batteries do not catch fire or explode during puncture tests [2] Group 2: Market Performance - The company has achieved mass shipments to several key customers [2]

Group 1 - The company, Zhenhua New Materials, has applied for multiple patents related to phosphorus-based anode materials, which are currently in the substantive examination stage [1]

Core Insights - The company has made substantial breakthroughs in layered oxide materials, having developed its fourth-generation product that meets customer demands for high voltage and high energy density [1] - The company is actively researching polyanion materials and has sent samples to some customers [1]

Group 1 - The core point of the article is that as of February 10, 2026, the number of shareholders for Zhenhua New Materials is reported to be 17,318 [1]