中自科技(688737.SH)披露2025年限制性股票激励计划(草案)，拟授予的限制性股票数量为206.2238万 股，约占激励计划草案公告时公司股本总额的1.72%。本次授予为一次性授予，无预留权益。本激励计 划授予的激励对象共计63人，授予价格为11.73元/股。 ...

格隆汇8月6日丨中自科技(688737.SH)公布，公司于2025年8月6日召开第四届董事会第六次临时会议、 第四届监事会第六次临时会议，审议通过了《关于变更部分募投项目资金用途并将节余募集资金永久补 充流动资金的议案》。同意变更部分募投项目资金用途并将节余募集资金28,539.35万元（含已到期利息 收入、现金理财收益，实际金额以资金转出当日专户余额为准）用于永久补充公司流动资金。 ...

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - The platinum and palladium markets are characterized by high supply concentration and low elasticity, with significant influence from factors such as mine production, recycling, and demand in various sectors. The Chinese market has a high dependence on imports for platinum - palladium resources, and the recycling sector is becoming increasingly important. The development of platinum - palladium futures and options provides new investment opportunities [15][22][86] - The demand for platinum and palladium in the automotive catalyst sector is affected by factors such as the development of new - energy vehicles and emission standards. The potential for growth in the hydrogen energy sector offers new prospects for the consumption of platinum and palladium [37][47][77] 3. Summary by Directory 3.1 Platinum and Palladium Variety Overview - Platinum and palladium, along with rhodium, ruthenium, osmium, and iridium, form the platinum - group metals (PGMs), which are precious metals. Platinum and palladium have higher demand than other PGMs. Platinum has a crustal content of 0.005 ppm, and palladium has 0.0006 ppm [6] - Platinum (Pt) has a high melting point, good ductility, and excellent electrical and thermal conductivity. It is mainly used in industrial catalysts, jewelry, electronics, etc. Palladium (Pd) can adsorb gases, is corrosion - resistant, and is mainly used in the catalyst field [7][8] - Platinum - group metal deposits can be divided into primary and secondary sand deposits. The main formation causes include magmatic action, hydrothermal processes, and exogenous deposition [10] 3.2 Platinum - Group Metal Industry Chain - The supply chain of platinum - group metals has an "oligopoly" structure. Most raw material supply and smelting are in the hands of a few integrated mining and smelting producers. The separation and purification processes of platinum - group metals vary according to the raw material composition. The current mainstream purity of platinum and palladium in the spot market is not less than 99.95%, and the Guangzhou Futures Exchange requires the delivery purity to be no less than 99.95% [15][19] - The extraction of platinum - group metals involves steps such as exploration, mining development, ore extraction, processing, and refining. Recycling of platinum - group metals is highly valued due to their low crustal content [16][20] 3.3 Global Platinum Supply - Demand Pattern - The main platinum - supplying countries are South Africa, Zimbabwe, and Russia. In 2024, South Africa's platinum output accounted for 71% of the global total. The global platinum output declined in 2024, and it is expected to decline further in 2025 [55][57] - The main platinum - consuming regions are China, Europe, North America, and Japan. In 2024, the global platinum demand decreased by 1.6% to 198 tons, with a supply gap of 1.98 tons. The demand in the automotive industry, jewelry, and other sectors showed different trends [59][65] 3.4 Global Palladium Supply - Demand Pattern - The main palladium - supplying countries are Russia, South Africa, Canada, and the United States. In 2024, Russia and South Africa accounted for 43% and 41% of the global total respectively. The global palladium output increased by 0.7 tons to 25.6 tons in 2024, with a supply surplus of 2.4 tons [69][71][77] - The main palladium - consuming regions are China, the United States, Europe, and Japan. The demand for palladium in the automotive catalyst sector decreased due to factors such as the substitution of new - energy vehicles [73][77] 3.5 Chinese Platinum - Group Resource Pattern - China's platinum - group metal resources are extremely scarce, with most of the reserves in Gansu. In 2024, China produced 4.9 tons of platinum - palladium metals. The import dependence on platinum - palladium resources is high, and the recycling industry is facing challenges such as waste shortages [82][86] - In 2024, China imported 104.1 tons of platinum and 28.1 tons of palladium. The consumption of platinum and palladium in China showed different trends, with the consumption of palladium in the automotive catalyst sector declining significantly [88][92][100] 3.6 Platinum and Palladium Price Review - The historical price trends of platinum and palladium are influenced by factors such as supply - demand relationships, economic conditions, and geopolitical situations. The price difference between platinum and palladium and the ratio of gold to platinum also show certain patterns [116] 3.7 Draft of Platinum and Palladium Futures of Guangzhou Futures Exchange - The contract text, risk control system, and delivery business of platinum and palladium futures on the Guangzhou Futures Exchange are under development. The current global active platinum and palladium futures markets are mainly in COMEX [52] 3.8 Platinum and Palladium Options - The draft of platinum and palladium options includes the option contract solicitation draft and the risk control system [42]

Core Insights - Zhongzi Technology Co., Ltd. has been committed to technological innovation and transformation since its establishment in 2005, focusing on exhaust gas purification, industrial catalysts, energy storage, hydrogen energy, and composite materials [1][3] - The company aims to align its strategic layout with the national "dual carbon" goals, developing a three-stage growth curve that integrates traditional and emerging sectors [3][5] - Zhongzi Technology has achieved significant milestones, including over 200 domestic and international patent authorizations and the establishment of a high-level R&D team of more than 200 professionals [3][11] Group 1: Strategic Layout and Innovation - The company has developed a product matrix that empowers industrial upgrades, including advanced catalysts for vehicle emissions and low-temperature VOCs purification catalysts [5][11] - Zhongzi Technology's strategic focus includes a commitment to green technology ecosystems that respond to national carbon reduction strategies [3][5] - The company has received numerous awards and recognitions, including being named a "National Specialized and Innovative Small Giant Enterprise" and leading the formulation of 27 industry standards [11][13] Group 2: Challenges and Growth - The company faced several challenges during its entrepreneurial journey, including talent acquisition, technology transfer, production quality, funding, and market penetration [6][8][10] - Through strategic partnerships and innovative financing solutions, Zhongzi Technology overcame initial funding challenges, ensuring product delivery and market growth [10] - The company emphasizes a customer-centric approach, which has helped build trust and secure orders from both domestic and international clients [10][11] Group 3: Future Vision and Cultural Values - Zhongzi Technology aims to maintain its innovative spirit and cultural values as it navigates future uncertainties, focusing on advanced technology and market adaptability [13] - The company’s mission is to create value for customers while fostering a culture of unity, excellence, and shared success [13] - Zhongzi Technology plans to build a global career development platform to attract and nurture talent, ensuring sustainable growth and innovation [11][13]

本报讯 （记者舒娅疆）7月15日，中自科技股份有限公司（以下简称"中自科技"）在公司成立二十周年 之际，重磅发布系列创新成果，以全维度布局与硬核技术，为绿色发展注入强劲动能，勾勒产业低碳转 型新图景。 在当天的活动现场，中自科技总经理王云详细介绍了公司的战略布局和产业生态链、科创成果、新产品 技术。据介绍，中自科技通过战略布局锚定双碳方向，构建了"减污降碳-碳达峰-碳中和"三个阶段发展 曲线，贯通传统与新兴赛道。从内燃机后处理催化剂、工业催化剂减排根基，到电芯、储能、储能+支 撑，再到氢能、复合材料等未来布局，覆盖交通、能源、工业多领域，构建绿色技术生态，精准响应国 家"双碳"目标，为产业低碳转型筑牢路径。 与此同时，中自科技以科创实力筑牢发展根基。公司以深厚技术积淀彰显硬核实力，成立20年以来，先 后荣获20项省部级以上科技奖，牵头或参与制定27项国家/行业标准，获200余项国内、外专利授权，组 建了一支以国家、省、市多层次人才为引领的200多人的高水平专业技术研发团队，构建起技术创新"护 城河"。公司的天然气车后处理催化剂等产品达国际领先水平，多领域技术突破填补行业空白，为绿色 技术迭代提供"中自方案"。 ...

7月15日下午，中自科技(688737)在成都举行了公司成立二十周年庆。证券时报·e公司记者在现场看到， 中自科技董事、总经理王云在会上发布了公司战略布局和产业生态链、科创成果、新产品技术，描绘了 公司产业低碳转型图景。 "中自科技战略布局锚定双碳方向。"王云表示，公司已构建了"减污降碳-碳达峰-碳中和"三阶发展曲 线，完成了从内燃机后处理催化剂、工业催化剂减排根基，到电芯、储能、储能+支撑，再到氢能、复 合材料等未来布局，覆盖交通、能源、工业多领域，构建绿色技术生态。 他指出，在研发能力上，公司组建了一支以国家、省、市多层次人才为引领的200多人的高水平专业技 术研发团队，构建起技术创新"护城河"。在天然气车后处理催化剂等领域，公司的产品达国际领先水 平，多领域技术突破填补行业空白。 据中自科技2024年年报，公司固态电池及核心材料的研发、产业化技术开发，以及中自碳谷产业基地建 设正在有序进行。同时，公司复杂高性能复合材料结构件研发及制造项目已完成预浸料中试线建设并投 入使用，制造基地现已进入建设阶段，预计在2025年底可达到可使用状态。 在年报中，公司称今年将深耕新材料、新能源行业，加速科技创新与成果转化 ...

中自科技：吉尔吉斯斯坦光储微电网项目开始发电 预计今年新能源领域收入有一定积极反馈 智通财经7月14日电，中自科技总经理王云近期向《科创板日报》记者表示，目前公司第二增长曲线-新 能源领域（包括电池、储能/储能+）是公司增长最快的板块。今年6月，中自科技在"一带一路"国家吉 尔吉斯斯坦的光储微电网项目正式开始发电，这也是吉尔吉斯斯坦国家第一个光伏发电项目。中自科技 在多米尼加、西非、欧洲等国家与地区的项目还在筹建中，预计该公司今年新能源领域营收方面会有一 定积极反馈。（记者 黄修眉） ...

Core Insights - The 2025 China Smart Energy Conference and Exhibition focuses on energy equipment such as wind, solar, storage, and hydrogen, showcasing advancements in energy digitalization and intelligence [1] Company Insights - Jinshi Technology presented its hybrid energy storage architecture and all-scenario solutions, combining energy-type lithium-ion batteries with power-type supercapacitor systems to enhance economic benefits and improve grid frequency regulation and power quality [1] - Jinshi Technology's hybrid storage system utilizes dynamic power distribution and intelligent scheduling through core algorithms, with supercapacitors handling transient high power and lithium batteries ensuring long-term energy output, thus improving frequency modulation efficiency and extending system life [1] - Jinshi Technology's core business has shifted to energy storage, with energy storage equipment revenue reaching 258 million yuan in 2024, accounting for 68.70% of total revenue, while energy storage safety solutions contributed 114 million yuan, representing 30.24% [2] - Jinshi Technology's subsidiary, Qianye Technology, focuses on lithium-ion battery thermal runaway monitoring and fire prevention research, indicating a comprehensive approach to energy storage safety [2] - Zhongzi Technology showcased its "source-network-load-storage" comprehensive energy management system, expanding its business from gasoline vehicle exhaust purification catalysts to energy storage solutions, with revenue from energy storage and related services exceeding 80 million yuan in 2024 [3] Industry Insights - In 2024, China's energy storage industry experienced significant growth, with 109.8 GWh of new energy storage capacity added, bringing the total installed capacity to 184.2 GWh, surpassing pumped storage for the first time [3] - East China Securities noted a rebound in terminal energy storage system prices since the second quarter of last year, driven by demand in emerging markets and the core drivers of energy storage installations being consumption, profitability, and electricity reliability [3]

Core Insights - The automotive exhaust purification market in China is experiencing significant growth due to increasing vehicle ownership and stricter environmental regulations, with a market size projected to reach 79.74 billion yuan in 2024, a year-on-year increase of 5.02% [1][11] - The rapid development of new energy vehicles presents new opportunities for the exhaust purification industry, as hybrid vehicles and internal combustion engine auxiliary systems still require effective exhaust purification solutions [1][11] Industry Overview - Automotive exhaust purifiers are devices installed in the exhaust systems of vehicles to reduce and purify harmful substances in exhaust gases, protecting the environment and human health [3] - The working principle involves physical filtration, chemical reactions, and biological degradation to convert harmful gases into less harmful substances [3] Types of Exhaust Purification Devices - Common types of exhaust purification devices include three-way catalytic converters, diesel particulate filters (DPF), selective catalytic reduction (SCR), and activated carbon canisters [5] - The three-way catalytic converter is one of the most widely used devices, utilizing precious metals like platinum, rhodium, and palladium to convert harmful substances [5] Industry Chain - The upstream of the automotive exhaust purification industry includes raw materials such as metal, ceramic, and rare earth materials, which are essential for manufacturing purifiers [7] - The midstream involves the production and manufacturing of exhaust purifiers, while the downstream encompasses various applications in gasoline, diesel, and fuel cell vehicles [7] Market Demand and Growth - The increasing economic development and rising income levels in China have led to a surge in vehicle purchases, with the total number of vehicles expected to grow from 194 million in 2016 to 353 million by 2024, reflecting a compound annual growth rate of 7.8% [9] - Despite the growth of new energy vehicles, fuel vehicles still dominate the market, necessitating the installation of exhaust purifiers to mitigate pollution [9] Competitive Landscape - The automotive exhaust purification industry features a mix of domestic and international brands, with companies focusing on R&D to enhance purification efficiency and reduce material costs [15] - Key domestic players include Anhui Aikelan Environmental Protection Co., Ltd., Shandong Aofu Environmental Protection Technology Co., Ltd., and Chongqing Hait Automotive Exhaust System Co., Ltd. [15] Industry Development Trends - Technological innovation and upgrades are crucial for the development of the automotive exhaust purification industry, with new materials and technologies improving purification efficiency [21] - International cooperation and competition are expected to increase, as companies work together to address global climate challenges while enhancing their technological capabilities [22][23]

Core Viewpoint - The company has announced a guarantee plan for its wholly-owned subsidiary, Sichuan Zhongzi Future Energy Co., Ltd., with a total guarantee amount of 10 million yuan, which is part of a larger approved guarantee limit of 2.5 billion yuan for the year 2025 [1][2]. Summary by Sections 1. Overview of Guarantee Situation - The company has provided a guarantee of 10 million yuan to Sichuan Zhongzi Future Energy Co., Ltd. to meet its operational funding needs, bringing the total guarantee balance to 34 million yuan [1]. - There are no counter-guarantees associated with this guarantee, and there are no overdue guarantees [1]. 2. Internal Decision-Making Process for Guarantee - The company’s board of directors approved the guarantee plan during meetings held on April 29, 2025, and May 20, 2025, allowing for a total guarantee limit of up to 2.5 billion yuan for 2025, with 800 million yuan allocated for Sichuan Zhongzi Future Energy Co., Ltd. and its subsidiaries [2]. 3. Basic Information of the Guaranteed Entity - Sichuan Zhongzi Future Energy Co., Ltd. is a wholly-owned subsidiary of the company, with total assets of approximately 166.1 million yuan and a net asset value of -4.78 million yuan [4][5]. 4. Main Content of the Guarantee Agreement - The guarantee covers all payments due under the financing lease contract, including rent, overdue interest, penalties, and other costs incurred to realize the debt [5]. 5. Necessity and Reasonableness of the Guarantee - The guarantee is deemed necessary to support the daily operational funding needs of the subsidiary, contributing to the company's stable operations and long-term development [5]. 6. Cumulative External Guarantee Amount and Overdue Guarantees - As of the announcement date, the total external guarantee amount provided by the company is 264 million yuan, accounting for 14.3% of the company's audited net assets for 2024, with no overdue guarantees reported [6].