Core Viewpoint - Desay Battery's stock price has shown a significant increase this year, with a 16.91% rise, and a notable 7.20% increase in the last five trading days, indicating positive market sentiment towards the company [2]. Group 1: Stock Performance - As of November 28, Desay Battery's stock price rose by 2.07% to 27.10 CNY per share, with a trading volume of 1.25 billion CNY and a turnover rate of 1.21%, resulting in a total market capitalization of 10.424 billion CNY [1]. - Year-to-date, the stock has increased by 16.91%, with a 7.20% rise in the last five trading days, a 3.56% decline over the last 20 days, and a 12.31% increase over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Desay Battery reported a revenue of 16.103 billion CNY, reflecting a year-on-year growth of 7.67%, and a net profit attributable to shareholders of 226 million CNY, which is a 2.02% increase compared to the previous year [2]. - The company has distributed a total of 1.484 billion CNY in dividends since its A-share listing, with 495 million CNY distributed over the last three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Desay Battery increased to 63,100, up by 3.43%, while the average circulating shares per person decreased by 3.31% to 6,092 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 4.1265 million shares, a decrease of 1.6379 million shares from the previous period [3].

Core Insights - The Tonghuashun Fruit Index concept rose by 1.95%, ranking second among concept sectors, with 15 stocks increasing in value, led by Changying Precision, Dongshan Precision, and Xunwei Communication, which rose by 9.16%, 6.80%, and 5.74% respectively [1][2] - The sector experienced a net inflow of 2.72 billion yuan, with 17 stocks receiving net inflows, and 5 stocks exceeding 100 million yuan in net inflow, with Luxshare Precision leading at 1.06 billion yuan [2][3] Stock Performance - The top-performing stocks in the Tonghuashun Fruit Index included: - Luxshare Precision: +3.41% with a net inflow rate of 11.61% [3][4] - Industrial Fulian: +4.10% with a net inflow rate of 3.86% [3] - Changying Precision: +9.16% with a net inflow rate of 9.14% [3] - Dongshan Precision: +6.80% with a net inflow rate of 5.79% [3] - Lens Technology: +1.22% with a net inflow rate of 8.29% [3] Sector Comparison - The top concept sectors by daily performance included: - Racehorse concept: +1.95% - Duty-free shops: +1.72% - Guangdong Free Trade Zone: +1.50% - Medical e-commerce: +1.38% - CPO (Co-Packaged Optics): +1.27% [2]

Core Viewpoint - Desai Battery reported that as of November 20, the total number of shareholders in its non-consolidated margin trading credit accounts is 63,120 [2] Summary by Category - **Company Information** - Desai Battery has a total of 63,120 shareholders in its non-consolidated margin trading credit accounts as of November 20 [2] - **Investor Engagement** - The company responded to investor inquiries on its interactive platform regarding shareholder numbers [2]

Core Viewpoint - The lithium carbonate futures market experienced a significant decline after a period of continuous increase, with the main contract LC2601 dropping by over 9% on November 21, closing at 91,020 yuan/ton [1][2]. Group 1: Market Performance - The main contract for lithium carbonate futures saw a substantial drop of 9% on November 21, following a strong upward trend that began on November 5, where it had cumulatively increased by 24.5% by November 20 [1]. - The A-share lithium battery concept sector also faced widespread declines, with leading lithium mining companies such as Shengxin Lithium Energy, Jinyuan Co., and Tianqi Lithium all hitting the daily limit down [1]. - Battery manufacturers also experienced declines, with companies like Desay Battery and XWANDA dropping over 6%, while EVE Energy fell nearly 6%, Guoxuan High-Tech dropped over 4%, and CATL fell over 2% [1]. Group 2: Supply and Demand Dynamics - The decline in lithium carbonate prices is attributed to market concerns regarding a potential narrowing of the supply-demand gap in December, following an announcement from the Guangzhou Futures Exchange regarding increased transaction fees and limits on daily opening positions for non-futures company members [2]. - The domestic inventory of lithium carbonate has been decreasing for 13 consecutive weeks, with a total reduction of 22,000 tons, leading to a new low in total inventory turnover days at 28.1 days since the futures listing [1].

Group 1 - The core point of the news is that Desay Battery's stock price has declined by 5.01% to 25.80 CNY per share, with a total market capitalization of 9.924 billion CNY, and it has experienced a cumulative drop of 5.1% over the past three days [1] - Desay Battery, established on September 4, 1985, and listed on March 20, 1995, specializes in the production of power management systems and various lithium batteries [1] - The company's revenue composition includes: 31.93% from smartphones, 19.92% from power tools, smart home and travel products, 15.47% from laptops and tablets, 11.71% from wearables, 10.73% from energy storage products, and 10.25% from other sources [1] Group 2 - From the perspective of Desay Battery's top ten circulating shareholders, Southern Fund's Southern CSI 1000 ETF (512100) reduced its holdings by 14,700 shares in the third quarter, now holding 2.1079 million shares, which is 0.55% of the circulating shares [2] - The estimated floating loss for the ETF today is approximately 2.8668 million CNY, with a total floating loss of 3.0776 million CNY during the three-day decline [2] - The Southern CSI 1000 ETF was established on September 29, 2016, with a current scale of 76.63 billion CNY, and has achieved a year-to-date return of 24.71% [2]

Group 1: Financial Performance - The subsidiary Desay SiP has achieved profitability every year since 2022, focusing on lithium battery power management SIP business and planning to expand into wafer-level packaging in the future [2] - The net loss of the subsidiary Hunan Battery in the first half of 2025 was 177 million yuan, with significant improvement in capacity utilization in the second half, although still operating at a loss [3] - The positive minority shareholder profit in Q3 2025 was primarily due to the profitability of Desay SiP, while Hunan Battery remained in a loss position [3] Group 2: Market Strategy and Challenges - The company is actively developing solid-state battery products, currently in the R&D phase with no clear mass production plans yet [2] - In response to rising raw material costs for energy storage cells, the company follows market pricing principles and is expanding its overseas market for energy storage [3] - The management is committed to improving operational performance to enhance market value and investor communication [3] Group 3: Capital Management - The funds raised from the share placement at the end of 2023 were fully utilized to supplement liquidity and repay debts, optimizing the asset-liability structure [3] - The company has engaged in low-risk investment and financial management to enhance profitability without affecting core business operations [3]

Core Insights - During this year's Double 11 shopping festival, the sales of smart/AI glasses surged by 346% year-on-year, becoming the highlight of growth in consumer electronics [2] - Brands like Xiaomi, ROKID, and Yingmu Technology are leading in sales, indicating that AI hardware is rapidly transitioning from a "geek toy" to a mainstream consumer market [3] Market Challenges - Despite the unprecedented market enthusiasm, battery life remains the biggest bottleneck for AI glasses [4] - Current battery technology presents a significant gap in meeting the "all-day wear" demand, with existing AI glasses typically having a battery capacity between 200-450mAh, resulting in a practical usage time of only 2-4 hours [5][6] Technological Developments - The industry is exploring three main technological pathways for breakthroughs in battery life: 1. Material advancements, such as solid-state battery technology using silicon-carbon anodes and lithium-metal anodes to enhance energy density 2. Structural innovations, including square steel shells, ultra-thin stacked cells, or flexible battery designs for distributed layouts [6] - Domestic battery companies are making strides: - Haopeng Technology plans to mass-produce AI glasses-specific batteries starting in Q3 2025, focusing on lightweight and quick-swap designs [7] - XINWANDA is exploring low-power wireless charging solutions, while DESAY Battery is developing lithium batteries for AR and AI glasses with a focus on "active safety" [7][8] Future Prospects - If breakthroughs in all-day power supply are achieved, the application scenarios for AI glasses could expand from entertainment to office, social, and real-time computing, positioning them as the next growth point in the wearable battery market after headphones [9] - The explosive growth of AI terminals is opening a new, high-value battlefield for battery companies, prompting them to seize structural opportunities arising from the demand for new energy solutions across various sectors [10]

本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，深圳市德赛电池科技股份有限公司（以 下简称"公司"）将参加由深圳证监局和中证中小投资者服务中心指导、深圳上 市公司协会与深圳市全景网络有限公司联合举办的"2025 年度深圳辖区上市公 司投资者网上集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参 与本次活动，活动时间为 2025 年 11 月 20 日（星期四）14:30-17:00。届时公司 高管将在线就公司业绩、公司治理、发展战略、经营状况和可持续发展等投资者 关心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与。 特此公告 深圳市德赛电池科技股份有限公司董事会 证券代码：000049 证券简称：德赛电池 公告编号：2025-033 深圳市德赛电池科技股份有限公司 关于参加 2025 年度深圳辖区上市公司投资者 网上集体接待日活动的公告 2025 年 11 月 14 日 ...

广东鸿园律师事务所 地址：广东省惠州市惠城区文昌一路 7 号华贸大厦 2 号楼 27 层 GUANGDONG HONGYUAN LAW FIRM 电话：0752-6680709 关于深圳市德赛电池科技股份有限公司 2025 年第一次临时股东会的法律意见书 （2025）鸿园法意字第 111307 号 深圳市德赛电池科技股份有限公司： 广东鸿园律师事务所（以下简称"本所"）接受深圳市德赛电池科技股份 有限公司（以下称"公司"）的委托，指派本所律师出席公司于 2025 年 11 月 13 日在广东省惠州市江北云山西路 12 号德赛大厦 24 楼 2402 会议室召开的 2025 年第一次临时股东会现场会议（以下简称"本次股东会"），并根据《中 华人民共和国公司法》（以下简称"《公司法》"）、《上市公司股东会规则》 （以下简称"《股东会规则》"）等法律、法规、规范性文件以及《深圳市德 赛电池科技股份有限公司章程》（以下简称"《公司章程》"）的相关规定出 具本法律意见书。 本所律师根据《股东会规则》第六条的要求，按照中国律师行业公认的业 务标准、道德规范和勤勉尽责精神，就本次股东会出具法律意见如下： 广东鸿园律师事务所 ...

证券代码：000049 证券简称：德赛电池 公告编号：2025-032 一、会议召开和出席情况 （一）会议召开情况 1、召集人：深圳市德赛电池科技股份有限公司（以下简称"公司"）第十一届董 事会 2、召开方式：现场投票及网络投票相结合的方式 3、会议召开时间： 深圳市德赛电池科技股份有限公司 2025 年第一次临时股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东会未出现否决议案的情形。 2、本次股东会不涉及变更以往股东会已通过的决议。 现场会议召开时间为：2025 年 11 月 13 日（星期四）下午 14:45 网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时间为 2025 年 11 月 13 日的交易时间，即 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互 联网投票的具体时间为 2025 年 11 月 13 日 9:15-15:00 期间的任意时间。 4、现场会议召开地点：广东省惠州市江北云山西路 12 号德赛大厦 24 楼 2402 会议 室 5、主持人：公司董事 ...