Core Viewpoint - The establishment of the solid-state battery production base by EVE Energy in Chengdu marks a significant step in the industrialization of solid-state batteries, with the "Longquan No. 2" solid-state battery achieving an energy density of 300Wh/kg and a volumetric energy density of 700Wh/L, targeting high-end applications such as humanoid robots, low-altitude aircraft, and AI [1] Industry Impact Analysis Battery Manufacturing Sector - Breakthroughs in solid-state battery technology are expected to drive upgrades across the entire power battery industry [1] - This advancement may lead to increased valuations for related companies [1] - It will accelerate the transformation of traditional battery enterprises [1] Upstream Materials Sector - The demand for electrolytes, anode, and cathode materials is anticipated to grow [1] - This will stimulate the research and production of new materials [1] - The profitability of related companies is expected to improve [1] Equipment Manufacturing Sector - The construction of solid-state battery production lines will create new growth points [1] - There will be a significant increase in equipment orders [1] - The demand for technological upgrades will rise [1] Key Listed Companies Overview - EVE Energy (300014): The solid-state battery research institute in Chengdu has commenced production, showcasing technological leadership [1] - Ganfeng Lithium (002460): The first 500Wh/kg solid-state battery has achieved small-scale production [1] - Guoxuan High-Tech (002074): The full solid-state pilot line has been officially completed [1] - Tongguan Copper Foil (301217): Successfully developed copper foil products suitable for solid-state batteries [1] - XianDai Intelligent (300450): There has been a surge in orders for solid-state battery equipment [1] - Xiamen Tungsten (688778): Solid-state battery cathode materials have begun supply [1]

Group 1 - The core viewpoint of the news is the significant surge in the new energy sector, particularly in areas such as power batteries, lithium batteries, solid-state batteries, energy storage, and photovoltaics, following the release of a new action plan aimed at stabilizing growth in the electronic information manufacturing industry [1] - As of September 5, the New Energy Vehicle ETF (515030) rose by 5.18%, with notable increases in stocks such as Tianhua New Energy (over 16%), Xiamen Tungsten (over 15%), and others reaching their daily limit [1] - The newly issued "Action Plan for Stabilizing Growth in the Electronic Information Manufacturing Industry 2025-2026" emphasizes high-quality development in the photovoltaic sector and aims to eliminate low-price competition, guiding local governments in the orderly layout of the photovoltaic and lithium battery industries [1] Group 2 - Zhongyuan Securities recommends focusing on three investment themes for the fourth quarter: the promotion of "anti-involution" policies benefiting industry leaders, companies with long-term R&D investments and market share growth, and opportunities related to solid-state battery investments [1] - The New Energy Vehicle ETF (515030) is currently the largest in the market, tracking the CSI New Energy Vehicle Index (399976) and heavily weighted towards lithium batteries, which account for 67% of its composition [2]

Investment Rating - The investment rating for the company is "Outperform the Market" [5][23]. Core Views - The company has solidified its leading position in lithium cobalt oxide, with rapid growth in sales and a positive outlook for new material development [2][3]. - The demand for cobalt lithium is expected to increase significantly due to the inclusion of electronic consumer products in the recycling program starting in 2025, which will boost battery consumption [2]. - The company is enhancing its product offerings in the power battery cathode materials sector, with a focus on high voltage and high power lithium-ion batteries [2][3]. Financial Performance - In the first half of 2025, the company achieved a net profit of 307 million yuan, representing a year-on-year increase of 28%, with revenues of 7.534 billion yuan, up 18% year-on-year [1]. - The gross margin for the first half of 2025 was 9.99%, an increase of 0.48 percentage points year-on-year, while the net margin was 4.06%, up 0.28 percentage points year-on-year [1]. - In Q2 2025, the company reported revenues of 4.557 billion yuan, a 48% increase year-on-year and a 53% increase quarter-on-quarter [1]. Sales Growth - The sales volume of cobalt lithium cathode materials reached 28,800 tons in the first half of 2025, a 57% increase year-on-year, with Q2 sales of approximately 16,500 tons, up 34% quarter-on-quarter [2]. - The company maintained a market share of 52% in the cobalt lithium sector, reinforcing its industry-leading position [2]. Product Development - The company is advancing its solid-state battery materials and new structure materials, with ongoing production of oxide-based cathode materials and successful testing of lithium sulfide samples [3]. - The company is also developing differentiated products for various applications, including consumer electronics and electric vehicles, to enhance its competitive edge [3]. Profit Forecast - The profit forecast has been revised upward, with expected net profits of 789 million yuan, 986 million yuan, and 1.125 billion yuan for 2025, 2026, and 2027 respectively, reflecting year-on-year growth rates of 60%, 25%, and 14% [3][4].

Group 1 - The A-share market showed slight fluctuations on September 5, with solid-state battery-related concepts performing strongly, particularly the New Energy Vehicle ETF (515030) which rose by 4.44% [1] - Leading stocks such as Xiandao Intelligent surged over 19%, Hangke Technology increased by over 14%, and other companies like Duofluor, Xiamen Tungsten, Mengguli, Tianhua New Energy, and Guoxuan High-Tech also saw gains [1] - Orders for solid-state battery production equipment have surged, with total new and existing orders from several leading equipment companies exceeding 30 billion yuan, reflecting a year-on-year increase of 70% to 80% [1] Group 2 - According to research from Caitong Securities, breakthroughs in solid-state battery technology since 2025 have led multiple automakers to plan for the adoption of all-solid-state batteries around 2027, accelerating the industry's industrialization process [1] - The gradual establishment of pilot production lines and the restart of lithium battery expansion cycles are expected to improve the fundamentals of equipment companies, with a positive outlook on the resonance between industry cycles and technological advancements [1] - The New Energy Vehicle ETF (515030) is currently the largest themed ETF in the market, tracking the CSI New Energy Vehicle Index (399976) and selecting stocks from listed companies involved in lithium batteries, charging piles, and new energy vehicles, with batteries accounting for 48.3% of the total [1]

Group 1 - The solid-state battery sector in the A-share market continues to show strong performance, with several companies experiencing significant stock price increases [1] - Patel's stock surged over 24%, while other companies like Jinyinhe and Huasheng Lithium Battery hit the daily limit of 20% increase [1] - Other notable performers include Lijia Technology with an increase of over 18%, and XianDao Intelligent with a rise of over 17% [1] Group 2 - Patel's total market capitalization is approximately 2.02 billion, with a year-to-date increase of 138.26% [2] - Jinyinhe has a market cap of 5.77 billion, with a year-to-date increase of 79.24% [2] - XianDao Intelligent's market cap stands at 82.5 billion, with a remarkable year-to-date increase of 163.72% [2]

Group 1 - Shengtun Mining plans to repurchase shares worth between 500 million and 600 million yuan, with a maximum repurchase price of 11.82 yuan per share, aimed at employee stock ownership plans or equity incentives [1] - Kangnbei received a drug registration certificate for Linggui Shugan Granules, which is derived from traditional Chinese medicine and is used for treating phlegm and dampness due to Yang deficiency [2] - Zhangjiang Hi-Tech intends to publicly transfer 100% equity and related debts of Shanghai Jixin Rui Construction Technology Co., Ltd. with a total price not less than 151 million yuan [3] Group 2 - Shankai Intelligent won a bid for a metering device procurement project worth 13.318 million yuan from Hohhot Water Supply Company [4] - Hason Co. plans to jointly establish a supply chain company with a registered capital of 10 million yuan, in which Hason will hold a 10% stake [5] - Pudong Construction's subsidiaries won multiple major projects with a total amount of 1.271 billion yuan [6] Group 3 - Jinling Pharmaceutical received approval for the Phase III clinical trial of Olaratogrel tablets, which are used for treating moderate to severe pain associated with endometriosis [8] - Menohua's subsidiary obtained a drug registration certificate for Mosapride Citrate Tablets, aimed at improving gastrointestinal symptoms [10] - Shapuaisi's major shareholder plans to reduce holdings by up to 2% of the company's shares due to personal financial needs [11] Group 4 - Changyuan Power reported an August electricity generation of 3.771 billion kWh, a year-on-year decrease of 6.03% [15][16] - Xibu Livestock's August fresh milk production increased by 4.8% month-on-month but decreased by 7.27% year-on-year [19] - Yong'an Pharmaceutical's actual controller and chairman had their detention lifted, allowing them to resume normal duties [20] Group 5 - Jinkai Intelligent's director resigned due to work adjustments [22] - Xinhua Medical received a Class II medical device registration for an endoscope cleaning workstation [23] - Haishi Science and Technology's innovative drug HSK47388 received approval for a new indication clinical trial [25] Group 6 - Baotai Co. plans to participate in a land use rights auction in Baoji City with a starting price of 57.34 million yuan [26] - Minfeng Special Paper received a government subsidy totaling 11.2 million yuan [27] - Jiuchang Bio obtained a medical device registration for a heparin-binding protein assay kit [29] Group 7 - Jingao Technology plans to repurchase shares worth between 200 million and 400 million yuan, with a maximum price of 17.36 yuan per share [31] - Youxunda won a bid for a metering equipment project from China Southern Power Grid worth approximately 161 million yuan [32] - Qianli Technology reported an August vehicle sales increase of 168.55% year-on-year [32] Group 8 - Guangzhou Port expects an August container throughput increase of 1.2% year-on-year [32] - Kexing Pharmaceutical's GB08 injection completed the first subject enrollment for Phase II clinical trials [33] - Wu Ming Pharmaceutical plans to transfer 98.9% of its subsidiary's shares to a newly established wholly-owned subsidiary [34] Group 9 - Shanghai Electric's acquisition of K-Electric Limited shares has not yet completed the transfer [35] - Fulai New Materials plans to raise no more than 710 million yuan through a private placement [36] - Huaren Health's drug registration application for a new type of potassium ion competitive acid blocker has been accepted [37]

（文章来源：证券日报） 证券日报网讯 9月2日晚间，厦钨新能发布公告称，2025年半年度利润分配方案为每股派发现金红利0.20 元（含税），股权登记日为2025年9月9日，除权（息）日及现金红利发放日均为2025年9月10日。 ...

Core Viewpoint - Company plans to implement a differentiated cash dividend distribution scheme, distributing a cash dividend of 0.20 CNY per share (including tax) to shareholders [1][2][3] Dividend Distribution Plan - The cash dividend distribution plan was approved at the company's second board meeting on August 19, 2025, and will be based on the total share capital minus shares held in the company's repurchase account [2][3] - The total share capital as of the announcement date is 504,691,083 shares, with 1,170,589 shares in the repurchase account, resulting in 503,520,494 shares eligible for distribution [3] - The total cash dividend to be distributed amounts to 100,704,098.80 CNY (including tax) [3] Dividend Calculation - The reference price for the ex-dividend date will be calculated using the formula: (previous closing price - cash dividend) / (1 + change in circulating shares ratio) [3][4] - Since there is no change in circulating shares, the change in circulating shares ratio is 0, leading to a virtual cash dividend of approximately 0.1995 CNY per share [3][4] Relevant Dates - The key dates for the dividend distribution include the record date, ex-dividend date, and cash dividend payment date [4] Distribution Implementation - Cash dividends will be distributed through the China Securities Depository and Clearing Corporation Limited Shanghai Branch to shareholders registered by the record date [5] - Shares held in the company's repurchase account will not participate in the profit distribution [5] Taxation on Dividends - Individual shareholders holding shares for over one year will be exempt from personal income tax on dividends, while those holding for one year or less will have tax withheld upon stock transfer [6][7] - Qualified Foreign Institutional Investors (QFII) will have a 10% withholding tax on dividends [6][7] - For Hong Kong investors holding shares through the "Shanghai-Hong Kong Stock Connect," a 10% withholding tax will also apply [6][7]

证券代码：688778 证券简称：厦钨新能 公告编号：2025-057 厦门厦钨新能源材料股份有限公司 2025年半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 | | --- | --- | --- | | 2025/9/9 | 2025/9/10 | 2025/9/10 | 厦门厦钨新能源材料股份有限公司（以下简称"公司"）2025 年 5 月 26 日的 2024年年度股东大会授权董事会在符合利润分配条件的情况下，制定具体的 2025 年中期分红方案，本次利润分配方案经 2025 年 8 月 19 日召开的第二届董事会第 十六次会议审议通过。 二、 分配方案 1. 发放年度：2025年半年度 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， 是否涉及差异化分红送转：是 每股分配比例 每股现金红利0.20元（含税） 相 ...

关于厦门厦钨新能源材料股份有限公司 2025 年半年度利润分配涉及的差异化权益分派事项的 法 书 律 高 见 福建至理律师事务所 地址：福州市鼓楼区洪山园路华润万象城三期 TB#写字楼 22 层 邮政编码：350025 电话:(0591)8806 5558 传真:(0591)8806 8008 网址: http://www.zenithlawyer.com 福建至理律师事务所 关于厦门厦钨新能源材料股份有限公司 2025 年半年度利润分配涉及的差异化权益分派事项的 法律意见书 闽理非诉字[2025]第176号 致:厦门厦钨新能源材料股份有限公司 福建至理律师事务所 (以下简称"本所")接受厦门厦钨新能源材料股份有 限公司(以下简称"厦钨新能"或"公司")的委托,根据《中华人民共和国证 券法》(以下简称《证券法》)、《中华人民共和国公司法》(以下简称《公司法》)、 中国证券监督管理委员会（以下简称"中国证监会"）发布的《上市公司股份回 购规则》及《上海证券交易所股票上市规则(2025年 4 月修订)》《上海证券交易 所上市公司自律监管指引第 7 号——回购股份（2025年 3 月修订》《上海证券 交易所交易规则 ...