Group 1 - The company, Zhuhai CosMX Battery Co., Ltd., issued convertible bonds totaling RMB 308,904.30 million, with a net amount of RMB 305,738.66 million after deducting issuance costs [1][12][14] - The bonds were approved by the China Securities Regulatory Commission on September 15, 2022, and began trading on the Shanghai Stock Exchange on November 17, 2022 [1][12] - The bonds have a six-year term, with an annual interest rate that increases from 0.30% in the first year to 2.00% in the sixth year [1][12] Group 2 - The company reported total revenue of RMB 1,154,107.20 million for the year 2024, a 0.83% increase from the previous year, and a net profit attributable to shareholders of RMB 43,035.47 million, up 25.03% [13][14] - The company's total assets decreased by 2.58% to RMB 2,095,315.66 million, while net assets increased by 2.48% to RMB 714,724.03 million [13][14] - The company has a strong focus on research and development, with R&D expenses accounting for 12.64% of revenue, an increase from 10.05% the previous year [14] Group 3 - The initial conversion price for the bonds was set at RMB 23.68 per share, with adjustments made due to stock dividends and other corporate actions [2][4][12] - The company has provisions for downward adjustments to the conversion price if the stock price falls below 85% of the current conversion price for a specified period [6][7][12] - The bonds are not secured and are managed by a trustee, China Merchants Securities Co., Ltd., which oversees the use of raised funds and ensures compliance with regulations [12][13] Group 4 - The funds raised from the bond issuance are allocated to various projects, including the construction of lithium-ion battery production lines and upgrades to existing facilities [12][14] - The company has established a dedicated account for the management of the raised funds, ensuring compliance with regulatory requirements [12][14] - The company has implemented a management system for the raised funds to protect investor interests and ensure proper usage [12][14]

Core Viewpoint - The announcement details a change in shareholder equity for Zhuhai Guanyu Battery Co., Ltd., indicating a decrease in the holding percentage of the controlling shareholder and its concerted parties from 30.00% to 28.77% due to the dilution effect from the company's stock incentive plan [1][2]. Group 1: Shareholder Equity Changes - The controlling shareholder, Zhuhai Prida Investment Co., Ltd., and its concerted parties experienced a passive dilution of their shareholding due to the completion of the second vesting period of the 2023 restricted stock incentive plan on May 28, 2025 [2]. - The total number of shares increased from 1,127,568,192 to 1,132,068,851, leading to a reduction in the holding percentage of the controlling shareholder and its concerted parties [2]. - The equity change occurred between June 9, 2025, and June 19, 2025, during which the employee shareholding entities reduced their holdings through centralized bidding and block trading [2]. Group 2: Shareholder Information - The announcement lists multiple entities associated with the controlling shareholder, including Zhuhai Prida No. 2 Investment Co., Ltd., Zhuhai Puyu Investment Partnership, and others, all classified as concerted parties [2]. - The announcement confirms that the changes in shareholding do not trigger mandatory tender offer obligations [1][4]. - The company assures that the changes in shareholding will not significantly impact its governance structure or ongoing operations [4].

| 证券代码：688772 | 证券简称：珠海冠宇 | 公告编号：2025-056 | | --- | --- | --- | | 转债代码：118024 | 转债简称：冠宇转债 | | 2.信息披露义务人信息 | 信息披露义务人名称 | | 投资者身份 | 统一社会信用代码 | | --- | --- | --- | --- | | 珠海普瑞达投资有限 | ☑ | 控股股东/实控人 | ☑ 91440400MA513BP455 | | 公司 | □ | 控股股东/实控人的一致行动人 | □ 不适用 | | | □ | 其他直接持股股东 | | | 珠海普瑞达二号投资 | □ ☑ | 控股股东/实控人 控股股东/实控人的一致行动人 | ☑ 91500110MA5YW2YQ66 | | 有限公司 | | | □ 不适用 | | | □ | 其他直接持股股东 | | | 珠海普宇投资合伙企 | □ | 控股股东/实控人 | 91440400MA53T24J3P ☑ | | 业（有限合伙） | ☑ | 控股股东/实控人的一致行动人 | □ 不适用 | | --- | --- | --- | --- | | | □ ...

证券代码：688772 证券简称：珠海冠宇 转债代码：118024 转债简称：冠宇转债 珠海冠宇电池股份有限公司 向不特定对象发行可转换公司债券 受托管理事务报告 （2024 年度） 发行人：珠海冠宇电池股份有限公司 （珠海市斗门区井岸镇珠峰大道 209 号（A 厂房首层南区）） 受托管理人：招商证券股份有限公司 （广东省深圳市福田区福田街道福华一路 111 号） 2025 年 6 月 第一节 本次债券情况 一、本次债券的核准文件和核准规模 珠海冠宇本次向不特定对象发行可转换公司债券（以下简称"本次债券"）的 方案以及相关事项，已经 2022 年 4 月 18 日召开的第一届董事会第二十一次会 议、2022 年 5 月 10 日召开的 2021 年年度股东大会、2022 年 6 月 28 日召开的第 一届董事会第二十二次会议审议通过。 重要声明 依据《可转换公司债券管理办法》（以下简称"《管理办法》"）、《珠海冠宇电 池股份有限公司与招商证券股份有限公司关于珠海冠宇电池股份有限公司可转 换公司债券受托管理协议》（以下简称 "《受托管理协议》"）、《珠海冠宇电池股 份有限公司向不特定对象发行可转换公司债券募集说 ...

Investment Rating - The report gives an "Overweight" rating for the solid-state battery industry, indicating that it is expected to outperform the overall market [3][4]. Core Insights - The solid-state battery industry is entering the early stages of industrialization, with significant technological changes in lithium metal anodes and dry processing equipment [3]. - There is a pressing demand for material and equipment innovation, with domestic solid-state battery production capacity planning to exceed 50GWh and a total investment of approximately 15 billion yuan planned for 2025 [4]. - Sulfide materials are becoming the mainstream technology route for solid-state batteries, with a notable increase in demand for sulfide electrolytes and dry processing equipment [4]. - Leading battery manufacturers are making breakthroughs in lithium metal preparation technology, enhancing energy density significantly [4]. Summary by Sections Industry Overview - The solid-state battery industry is expected to achieve product finalization by the end of 2025, with vehicle testing starting in 2026 and entering a cost-reduction phase in 2027 [4]. Technological Developments - The report highlights the high ionic conductivity of sulfide solid-state batteries, which is driving many manufacturers to focus on this technology route [4]. - Key innovations include the dry processing method, which is seen as crucial for mass production of solid-state batteries [4]. Investment Opportunities - The report suggests focusing on battery companies with strong R&D capabilities, solid-state material companies with high demand elasticity, and solid-state equipment companies [4]. - Recommended companies include CATL, Yiwei Lithium Energy, BYD, Guoxuan High-Tech, and others in the materials and equipment sectors [4][5].

Core Insights - Guan Yu Group has made significant progress in the field of new energy by establishing a fully inert gas-protected all-solid-state lithium battery experimental line, enhancing its independent R&D capabilities in this area [1] - The company has successfully applied oxide solid electrolyte materials in consumer battery products, improving safety performance and low-temperature discharge capabilities [1] - In the power battery sector, Guan Yu Group's "quasi-solid-state power lithium battery" project has passed expert review, achieving breakthroughs in several core industrial technologies [4] Group 1: Technological Advancements - The all-solid-state battery experimental line provides essential infrastructure for material validation, process optimization, and sample testing [1] - The energy density of the consumer semi-solid-state battery products developed by Guan Yu Group has reached 850-900 Wh/L, with successful client validation [1] - The company has developed high-capacity (≥270 mAh/g) lithium-rich manganese-based single crystal cathode materials, achieving kilogram-level production [4][5] Group 2: Production Capacity and Market Position - Guan Yu Group has established production lines for 2,000 tons of high-performance lithium-rich manganese precursors and 2,000 tons of lithium-rich manganese cathode materials annually, with the first generation of materials already on the market [5] - The company is a major supplier of consumer polymer soft-pack lithium-ion batteries, serving well-known clients in various sectors including laptops, smartphones, and drones [5] - Guan Yu Group has become a qualified supplier for multiple automotive manufacturers and is expanding into high-end electric motorcycles, automotive starter batteries, and energy storage sectors [5] Group 3: Research and Development - The company has a strong team of professionals across various disciplines, contributing to its technological advancements and earning multiple national and provincial honors [5] - Guan Yu Group is actively engaged in the R&D of key materials for solid-state batteries, including high-nickel ternary, high-voltage cobalt acid lithium, and sulfide solid electrolytes [4]

Core Viewpoint - Zhuhai Guanyu (688772) has shown a positive stock performance with a closing price of 13.69 yuan, reflecting a 2.47% increase from the previous week, and a total market capitalization of 15.498 billion yuan [1] Company Announcements Summary - Zhuhai Guanyu has issued a legal opinion regarding differentiated dividend distribution for the 2024 fiscal year, indicating plans to repurchase shares using self-owned funds and special loan funds for stock buybacks, with 10,152,846 shares excluded from the profit distribution [2] - The company announced a temporary suspension of convertible bond conversions from June 12 to June 18, 2025, with an adjusted conversion price of 22.89 yuan per share effective from June 19, 2025 [3] - The maximum repurchase price for shares has been adjusted to not exceed 22.70 yuan per share, with a total repurchase fund planned between 100 million and 200 million yuan, potentially acquiring approximately 8.81 million to 4.41 million shares [4] - The company declared a cash dividend of 0.30 yuan per share (tax included) for the 2024 fiscal year, with a total cash dividend distribution of approximately 336.57 million yuan based on 1,121,916,005 shares [5] - A final court ruling dismissed the lawsuit filed by Ningde New Energy Technology Co., Ltd., marking a legal victory for Zhuhai Guanyu [6][7]

Summary of Key Points Core Viewpoint - The company, Zhuhai Guanyu Battery Co., Ltd., has announced an adjustment to the upper limit of the share repurchase price following the implementation of the 2024 annual equity distribution, reducing it from RMB 23.00 to RMB 22.70 per share [1]. Group 1: Share Repurchase Plan - The board approved a share repurchase plan using self-owned funds and special loans, with a total repurchase amount between RMB 100 million and RMB 200 million [1]. - The repurchase price was initially set at a maximum of RMB 23.00 per share, with a repurchase period of up to 12 months from the board's approval date [1]. - The repurchased shares will be used for convertible bond conversions or employee stock ownership plans [1]. Group 2: Reason for Price Adjustment - The adjustment in the repurchase price is due to the company's decision to distribute a cash dividend of RMB 3.00 per 10 shares, with the record date on June 18, 2025, and the ex-dividend date on June 19, 2025 [1]. - The repurchase price adjustment is calculated based on the cash dividend and the change in circulating shares, which remains unchanged in this case [1]. Group 3: Details of Price Adjustment - The new upper limit for the repurchase price is calculated as follows: (23.00 - 0.2973) / (1 + 0) = approximately RMB 22.70 per share [1]. - Based on the upper limit of RMB 200 million, the estimated number of shares to be repurchased is approximately 8.81 million, representing about 0.7783% of the total share capital [1]. - If the lower limit of RMB 100 million is used, the estimated number of shares is approximately 4.41 million, or about 0.3891% of the total share capital [1].

| 证券代码：688772 | 证券简称：珠海冠宇 | 公告编号：2025-055 | | --- | --- | --- | | 债券代码：118024 | 债券简称：冠宇转债 | | 珠海冠宇电池股份有限公司 关于诉讼进展暨终审判决驳回原告诉讼请求的公告 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： 公司所处的当事人地位：二审上诉人、一审第一被告 2022 年 7 月 8 日，公司收到福建省福州市中级人民法院（以下简称"福州 中院"）送达的关于 ATL 起诉公司的《民事起诉状》等相关材料。ATL 称公司 产品涉嫌侵犯其 ZL201621440703.7 号专利。具体内容详见公司于 2022 年 7 月 12 日在上海证券交易所网站（www.sse.com.cn）披露的《关于公司涉及诉讼的进 展公告》。 是否对上市公司产生影响：截至本公告披露日，珠海冠宇电池股份有限 公司（以下简称"公司"）与宁德新能源科技有限公司、东莞新能源科技有限公 司（以下单独或合称"ATL"）之间的专利争议案件中已有 14 个 ...

| 证券代码：688772 | 证券简称：珠海冠宇 公告编号：2025-052 | | --- | --- | | 转债代码：118024 | 转债简称：冠宇转债 | 珠海冠宇电池股份有限公司 2024年年度权益分派实施公告 本公司董事会及全体董事保证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： | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/6/18 | 2025/6/19 | 2025/6/19 | 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经珠海冠宇电池股份有限公司（以下简称"公司"）2025 年 4 月 28 日的2024年年度股东大会审议通过。 二、 分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股 东（珠海冠宇电池股份有限公司回购专用证券账户除外）。 根据《中华人民共和国公司法》《中华人民共和国证 ...