五矿新能源材料（湖南）股份有限公司 关于对五矿集团财务有限责任公司的风险持续评估报告 按照《上海证券交易所上市公司自律监管指引第 5 号——交易与关联交易》的 要求，五矿新能源材料（湖南）股份有限公司（以下简称"公司"）通过查验五矿集 团财务有限责任公司（以下简称"财务公司"）《金融许可证》《营业执照》等证件 资料，并审阅包括资产负债表、利润表、现金流量表等在内的财务公司的定期财务报 告，对财务公司的经营资质、业务和风险状况进行了评估，现将有关风险评估情况报 告如下： 一、财务公司基本情况 财务公司是中国五矿集团有限公司（以下简称"中国五矿"）下属金融机构，于 1992 年经中国人民银行批准设立，2001 年改制为有限责任公司，是由中国五矿股份 有限公司、五矿资本控股有限公司两方共同出资，接受国家金融监督管理总局监管的 非银行金融机构。财务公司的注册资本为人民币 350,000 万元。 注册地址：北京市海淀区三里河路 5 号 A247-A267(单)A226-A236(双)C106 法定代表人：董甦 金融许可证机构编码：L0001H211000001 统一社会信用代码：91110000101710917K 经 ...

Financial Performance - The company's revenue for the first half of 2025 reached ¥2,904,173,948.41, representing a 15.85% increase compared to ¥2,506,751,051.25 in the same period last year[17]. - The total profit for the first half of 2025 was a loss of ¥12,358,498.13, a significant decline of 169.21% from a profit of ¥17,856,301.78 in the previous year[17]. - The net profit attributable to shareholders for the first half of 2025 was a loss of ¥26,826,508.44, improving from a loss of ¥65,930,342.39 in the same period last year[17]. - The net cash flow from operating activities for the first half of 2025 was ¥95,680,004.03, a recovery from a negative cash flow of ¥983,716,766.32 in the previous year[17]. - The company achieved operating revenue of CNY 2,904.17 million in the first half of 2025, representing a year-on-year increase of 15.85% due to sustained market demand and growth in lithium iron phosphate product sales[24]. - The net profit attributable to shareholders was a loss of CNY 26.83 million, which is a 59.31% reduction in losses compared to the previous year[24]. - Basic and diluted earnings per share were both CNY -0.01, showing an improvement from CNY -0.03 in the same period last year[24]. - The gross profit margin recovery was below expectations due to price pressures from the downstream battery industry and fluctuations in key metal resource prices[49]. Research and Development - The company's research and development expenditure accounted for 4.05% of operating revenue, a decrease of 0.75 percentage points from the previous year[24]. - The total R&D investment for the period was approximately ¥117.76 million, a decrease of 2.09% compared to ¥120.27 million in the same period last year, with R&D investment accounting for 4.05% of operating revenue, down 0.75 percentage points[39]. - The company has established a sustainable R&D system and innovation mechanism, emphasizing incentives for research personnel to drive technological innovation[31]. - The company achieved breakthroughs in high-voltage ternary materials, high nickel/ultra-high nickel materials, solid-state battery cathode materials, and sodium battery materials during the reporting period[33]. - The company applied for 11 new invention patents during the reporting period, bringing the total to 119 valid invention patents and 45 utility model patents[36]. Market Position and Strategy - The company has established itself as a core supplier for leading lithium battery manufacturers, enhancing its competitive position in the market[25]. - The company is focused on developing high-performance cathode materials for new energy batteries, aiming to become a leader in the global new energy materials industry[24]. - The company has deepened strategic cooperation with major battery manufacturers, establishing itself as a core supplier for companies like CATL and EVE Energy, ensuring a solid foundation for continuous orders[32]. - The company is actively expanding its market presence and accelerating the development of new customers, integrating products into more supply chain systems[26]. Environmental and Social Responsibility - Jinchi Energy invested CNY 17.3667 million in pollution control measures during the first half of 2025, ensuring stable operation of environmental facilities and compliance with emission standards[73]. - The company processed 246,400 tons of wastewater and recovered 153,700 tons of pure water, with no production wastewater discharge during the reporting period[73]. - The company contributed CNY 128,600 to consumption assistance programs in the first half of 2025, promoting products from poverty alleviation regions[78]. - Both companies established comprehensive environmental management systems, implementing 13 environmental management regulations to ensure compliance with national laws[77]. Financial Position - The total assets of the company increased to CNY 13,376.35 million, up 4.10% from CNY 12,849.95 million[24]. - The total liabilities as of June 30, 2025, are CNY 6,360,593,011.05, compared to CNY 5,807,367,543.30 at the end of 2024[151]. - The total equity attributable to shareholders is CNY 7,015,757,255.01, slightly decreasing from CNY 7,042,583,763.45 at the end of 2024[151]. - The cash and cash equivalents amount to CNY 2,662,547,681.75, showing a slight increase from CNY 2,652,976,270.67 at the end of 2024[149]. Risk Factors - The company faces risks related to the rapid evolution of technology in the lithium battery sector, which could impact its competitive position[46]. - The company is experiencing structural risks in downstream demand, with high customer concentration potentially affecting revenue stability[48]. - Future performance may be impacted by macroeconomic conditions and fluctuations in raw material prices, which are critical to operational efficiency[47]. Shareholder and Governance - The company maintains a consistent and stable profit distribution policy, prioritizing cash dividends, with a minimum cash distribution of 10% of the distributable profit for the year[81]. - The company commits to strictly adhering to the profit distribution policy outlined in its articles of association and shareholder return plan[81]. - The company has made long-term commitments regarding the resolution of related party transactions and competition issues[80]. - The company will not interfere with management activities or infringe on the interests of the listed company while exercising shareholder rights[106].

五矿新能公告，2025年上半年营业收入29.04亿元，同比增长15.85%。归属于上市公司股东的净亏损 2682.65万元，上年同期净亏损6593.03万元。 ...

Core Viewpoint - The company is actively advancing the transformation of battery material technology achievements, successfully entering the low-altitude economy market with its ultra-high nickel series products [1] Group 1 - The company has achieved mass application of ultra-high nickel series products in the electric tool and low-altitude aircraft segments [1] - The company is focusing on the low-altitude economy market [1]

金融界消息 截至2025年8月14日收盘，五矿新能（688779）报收于5.78元，下跌2.53%，换手率1.32%， 成交量25.43万手，成交金额1.49亿元。 资金流向方面，今日主力资金净流入1387.13万元，占比成交额9.33%。其中，超大单净流入189.47万 元、占成交额1.27%，大单净流入1197.66万元、占成交额8.06%，中单净流出流出591.32万元、占成交 额3.98%，小单净流出795.82万元、占成交额5.35%。 天眼查商业履历信息显示，五矿新能源材料(湖南)股份有限公司，成立于2002年，位于长沙市，是一家 以从事电气机械和器材制造业为主的企业。企业注册资本192921.8895万人民币，实缴资本144690.4704 万人民币。公司法定代表人为胡柳泉。 通过天眼查大数据分析，五矿新能源材料(湖南)股份有限公司共对外投资了5家企业，参与招投标项目 1497次，知识产权方面有商标信息10条，专利信息178条，此外企业还拥有行政许可15个。 来源：金融界 五矿新能最新一期业绩显示，截至2025一季报，公司营业总收入14.08亿元、同比增长29.46%，归属净 利润6387.05 ...

Core Viewpoint - The company, Wenkang New Energy, announced that it will not adjust the conversion price of its "Lithium Science Convertible Bonds" downward, even if the conditions for downward adjustment are triggered again in the next six months [1] Summary by Relevant Sections - **Company Decision**: The board of directors decided not to lower the conversion price of the convertible bonds during the upcoming six-month period, starting from August 13, 2025, to February 12, 2026 [1] - **Future Conditions**: If the conditions for downward adjustment of the conversion price are triggered again within the specified timeframe, the company will also refrain from proposing a downward adjustment plan [1]

Core Viewpoint - The company has decided not to adjust the conversion price of the "Lithium Science Convertible Bond" despite triggering the downward adjustment clause due to stock price performance [1][3][5] Summary by Sections Convertible Bond Issuance Overview - The company issued 32.5 million convertible bonds on October 11, 2022, with a total amount of RMB 3.25 billion and a maturity period of six years [1][2] - The initial conversion price was set at RMB 15.76 per share, later adjusted to RMB 15.53 per share due to a rights issue [2] Downward Adjustment Clause for Conversion Price - The board has the authority to propose a downward adjustment of the conversion price if the stock price is below 85% of the current conversion price for at least 15 out of 30 consecutive trading days [2][3] - The adjusted conversion price must not be lower than the average trading price of the stock for the 20 trading days prior to the shareholders' meeting [3] Specific Explanation for Not Adjusting the Conversion Price - As of August 12, 2025, the company's stock price had been below RMB 13.20 (85% of the current conversion price) for the required number of trading days, triggering the adjustment clause [3][5] - The board, after considering various factors, unanimously decided not to adjust the conversion price and will not propose any adjustment for the next six months [5]

五矿新能源材料（湖南）股份有限公司 关于不向下修正"锂科转债"转股价格的公告 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： 截至 2025 年 8 月 12 日，五矿新能源材料（湖南）股份有限公司（以下 简称"公司"）股价已触发"锂科转债"转股价格向下修正条款。 经公司第三届董事会第二次会议审议，公司董事会决定本次不向下修正 转股价格，同时在未来六个月内（即自本次触发修正条件的次一交易日 2025 年 8 月 13 日起至 2026 年 2 月 12 日），如再次触发"锂科转债"转股价格向下修 正条件，亦不提出向下修正方案。 一、可转债发行上市概况 （一）经中国证券监督管理委员会《关于同意湖南长远锂科股份有限公司向 不特定对象发行可转换公司债券注册的批复》（证监许可〔2022〕1784 号）同 意注册，公司于 2022 年 10 月 11 日向不特定对象发行了 3,250.00 万张可转换公 司债券，每张面值为人民币 100 元，发行总额为 325,000.00 万元，期限为自发 行之日起六年，即自 20 ...

Group 1 - The company issued 32.5 million convertible bonds with a total amount of 3.25 billion RMB, which are set to mature on October 10, 2028 [3] - The initial conversion price of the bonds was set at 15.76 RMB per share, which was adjusted to 15.53 RMB per share starting June 15, 2023, due to the company's annual equity distribution [4] - The bonds are listed on the Shanghai Stock Exchange under the name "锂科转债" with the code "118022" [3][6] Group 2 - The conversion price can be adjusted downwards if the company's stock price falls below 85% of the current conversion price for at least 15 out of 30 consecutive trading days [5] - If the downward adjustment condition is triggered, the company will hold a board meeting to decide on the adjustment and will disclose the information in a timely manner [7][8] - The potential triggering period for the conversion price adjustment is from July 23, 2025, to August 5, 2025, if the stock price remains below 13.20 RMB per share during that time [2][8]

Core Viewpoint - The company, Wulian New Energy Materials (Hunan) Co., Ltd., is expected to trigger the condition for a downward adjustment of the conversion price for its convertible bonds, "Lithium Science Convertible Bonds," due to the stock price being below 85% of the current conversion price for 10 trading days [2][8]. Group 1: Convertible Bond Issuance Overview - The company issued 32.5 million convertible bonds with a total amount of 3.25 billion yuan, with a maturity period from October 11, 2022, to October 10, 2028 [3]. - The bonds began trading on the Shanghai Stock Exchange on November 7, 2022, under the name "Lithium Science Convertible Bonds" and code "118022" [3]. - The initial conversion price was set at 15.76 yuan per share, adjusted to 15.53 yuan per share starting June 15, 2023, due to the company's annual equity distribution [4]. Group 2: Conversion Price Adjustment Terms - The company has the right to propose a downward adjustment of the conversion price if the stock price is below 85% of the current conversion price for at least 15 out of any 30 consecutive trading days [5]. - The adjustment requires approval from more than two-thirds of the voting rights at the shareholders' meeting, with bondholders required to abstain from voting [6]. - If the conversion price is adjusted, the company will announce the adjustment details, including the new conversion price and relevant dates [7]. Group 3: Expected Trigger Conditions for Price Adjustment - From July 23, 2025, to August 5, 2025, if the stock price remains below 13.20 yuan (85% of the current conversion price) for 10 trading days, it may trigger the condition for a downward adjustment of the conversion price [8].