佛塑科技12月1日公告：拟以50.8亿元总价收购金力股份全部股权，其中46.8亿元定向发行股份、4亿元 现金支付。标的公司专注湿法基膜及涂覆隔膜，2024年国内湿法隔膜市占率18%，排名行业第二，已建 及在建产线共46条，七成以上为2023年后投产的先进大宽幅设备，具备5μm及以下超薄高强度隔膜的稳 定量产能力，成本与性能领先。下游新能源车、储能需求高增，2025年上半年中国锂电池隔膜出货量 136亿平，同比增长49%，湿法隔膜112亿平，同比增长58%，占比超80%，行业价格止跌回稳。金力股 份2025年1—10月实现营业收入32.6亿元，净利润2.55亿元（未经审计），规模效应已现。GGII预计 2025—2027年中国湿法隔膜需求年复合增速约19%，2027年达295亿平，高端产能仍稀缺。交易完成 后，金力股份可借助上市平台拓宽融资渠道，降低财务费用；佛塑科技则快速切入新赛道，分享锂电产 业长周期红利，并通过资源整合进一步放大规模优势，巩固在高端隔膜市场的领先地位。 ...

Group 1 - The company held its 34th meeting of the 11th Board of Directors on December 5, 2025, with all 7 participating directors present, complying with relevant laws and regulations [1][2] - The Board approved the proposal to amend the company's investment management system, with details published on the official information disclosure platform [1] - The Board also approved the performance evaluation results and bonus settlement report for the leadership team for the year 2024, which had been reviewed by the Compensation and Assessment Committee [3][4] - Additionally, the Board approved the report on the total salary settlement for the year 2024, with unanimous support from all participating directors [5]

北京商报讯（记者张茜琦）佛塑科技日前发布重大资产重组草案，拟以发行股份及支付现金方式收购金 力股份100%股权。金力股份主营湿法基膜及涂覆隔膜，2024年国内湿法隔膜市占率18%，居行业第 二。下游新能源车和储能需求旺盛，2025年上半年国内隔膜出货量136亿平，同比增49%，湿法占比超 八成，价格已止跌回稳。 金力股份先行布局70%以上产能为2023年后投产的大宽幅先进产线，可稳定量产5μm及以下超薄高强度 隔膜，GGII预计2025-2027年国内湿法隔膜年复合增速约19%，2027年需求将达295亿平。交易完成后， 金力股份将借助上市平台扩宽融资渠道，进一步放大规模效应，巩固高端市场先发地位，佛塑科技由此 切入锂电池隔膜赛道，分享新能源产业持续成长红利。 ...

佛塑科技以50.8亿元收购河北金力新能源科技股份有限公司（下称"金力股份"） 的重大资产重组，将于 12月9日 上会审议。 一系列复杂的数字映入眼帘：总交易额50.8亿元，其中现金支付4亿元，股份支付46.8亿元；金力股份 2024年亏损近1亿，却承诺未来三年实现净利润合计12亿元；资产负债率从52.79%飙升至64.02%，有息 负债总额达65.39亿元。 深交所对此交易连发十二问，直接揭示了这场交易的重重疑点。标的公司金力股份在IPO折戟后业绩大 变脸，背负高额债务的同时给出过于乐观的业绩承诺。 业绩承诺：从巨亏到暴增的奇幻逆转 佛塑科技收购金力股份的交易框架引人注目。公司计划以发行股份及支付现金的方式收购金力股份 100%股份，并向控股股东广新集团募集不超过10亿元配套资金。 现金与股份支付比例为4亿元与46.8亿元，股份支付占比达92.13%。 这笔交易备受监管关注。深交所对这场并购连发十二问，直指估值合理性、业绩承诺可实现性和债务风 险等核心问题。尽管交易构成重大资产重组，但公司公告明确表示不构成"借壳上市"，控制权不会因此 发生变更。 金力股份的业绩变动轨迹令人惊讶。2022年，公司净利润达到3. ...

Group 1 - The core point of the article is that 佛塑科技 (Foshan Plastics Technology) held its 34th meeting of the 11th Board of Directors on December 5, 2025, via telecommunication to review the performance assessment results and bonus settlement report for the leadership team for 2024 [1] - For the first half of 2025, 佛塑科技's revenue composition shows that the new materials industry accounted for 87.2% of total revenue, while other business revenues made up 12.8% [1] - As of the time of reporting, 佛塑科技 has a market capitalization of 12.5 billion yuan [1]

佛山佛塑科技集团股份有限公司 投资管理制度 （2025年12月5日经公司第十一届董事会第三十四次会议审议通过并实施） 第一章 总 则 第一条 为规范佛山佛塑科技集团股份有限公司（以下 简称公司）的投资行为，有效防范投资风险，建立科学规 范的投资决策机制，提高投资效益，保障公司和股东的利 益，根据《中华人民共和国公司法》《中华人民共和国证券 法》等法律法规和《佛山佛塑科技集团股份有限公司章程》 （以下简称《公司章程》），结合公司具体情况制定本制 度。 第二条 投资应当遵循以下原则： （一）战略引领原则。服务国家和广东省发展战略，符合 国资布局和结构性调整方向，坚持聚焦主业、突出实业，大力 培育和发展战略性新兴产业，严格控制非主业投资，不断提升 核心竞争力，增强核心功能。 （二）依法合规原则。符合我国和投资所在国（地区） 法律法规、商业规则要求，符合国家、地区的发展规划和产业 政策，遵守国有资产监督管理有关制度规定，遵守投资决策程 序，确保程序规范、投资合规； （三）强主业原则。突出主业发展方向，符合公司"高分 1 子功能薄膜与复合材料"产业的发展战略、产业布局以及发展 规划，有利于提升公司的核心竞争能力和整体实 ...

证券代码：000973 证券简称：佛塑科技 公告编号：2025－82 佛山佛塑科技集团股份有限公司 第十一届董事会第三十四次会议决议公告 详见同日在巨潮资讯网（www.cninfo.com.cn）发布的《佛山佛塑科技集团股份 有限公司投资管理制度》。 表决结果：同意 7 票，反对 0 票，弃权 0 票。 二、审议通过了《关于公司领导班子 2024 年度绩效考核结果及绩效奖金清算报 告的议案》 本议案已经公司董事会薪酬与考核委员会审议通过。 表决结果：关联董事马平三已回避表决。其他 6 名董事同意 6 票，反对 0 票，弃 权 0 票。 三、审议通过了《关于公司 2024 年度工资总额清算情况报告的议案》 表决结果：同意 7 票，反对 0 票，弃权 0 票。 1 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 佛山佛塑科技集团股份有限公司（以下简称公司）董事会于 2025 年 12 月 2 日以 电话通知、书面通知及专人送达的方式向全体与会人员发出了关于召开第十一届董事 会第三十四次会议的通知，会议于 2025 年 12 月 5 日以通讯表决方式召开。应参加会 ...

Core Viewpoint - The lithium battery separator industry is experiencing a significant price increase, driven by a reversal in supply-demand dynamics, cost pressures, and policy guidance, marking a shift from price competition to product quality competition [10][12][15]. Group 1: Price Adjustments and Market Dynamics - Leading separator manufacturer Xingyuan Material announced a 30% price increase for its wet-process separator products, attracting significant market attention [5]. - The separator industry began a reversal trend in August 2025, with wet-process separator prices rising by 10% by the end of October [7]. - The price increase from leading companies signals a clear shift in the supply-demand balance, indicating that the industry has reached a turning point after two years of price wars [8]. Group 2: Supply-Demand Reversal and Structural Shortages - The core feature of the lithium battery separator industry in 2025 is a structural shortage due to supply-demand mismatch, with a 47.6% year-on-year increase in separator shipments [12]. - The demand for high-end wet-process separators is driven by the energy density and power performance requirements in the energy storage market, leading to a significant increase in their market share [12]. - Major manufacturers are operating at over 90% capacity utilization, with wet-process separators rapidly replacing dry-process ones due to performance advantages [13]. Group 3: Cost Pressures and Policy Influence - Rising raw material costs and previous price wars have led to thin or negative profit margins for many companies, making price increases a necessary step for profit recovery [15]. - The Ministry of Industry and Information Technology's meetings aimed at curbing "involution" in the industry have fostered a policy environment conducive to price recovery, breaking the cycle of irrational competition [10][11]. Group 4: Future Outlook and Strategic Moves - If the current price increases are successful, it will shift the pricing model from cost-based to market-driven, enhancing the industry's confidence in further price hikes [17]. - Major separator manufacturers are expected to strengthen strategic partnerships with battery manufacturers to ensure stable supply amid rising prices [17]. - The industry is likely to face a continued structural shortage of high-end separators, particularly 5μm products, due to high production requirements and limited capable manufacturers [19].

Core Viewpoint - Foshan Fospower Technology Group Co., Ltd. plans to acquire 100% of Hebei Jinli New Energy Technology Co., Ltd. for a total consideration of 5.08 billion yuan, with 400 million yuan paid in cash and 4.68 billion yuan through share issuance [1] Company Summary - Jinli New Energy specializes in wet-process membranes and coated separators for lithium batteries, holding a competitive advantage in the wet-process separator market with an estimated market share of 18% in China for 2024, ranking second in the industry [1] - The company has seen rapid revenue growth due to new production capacity and the first-mover advantage in ultra-thin high-strength separators, achieving a revenue of approximately 3.26 billion yuan and a net profit of about 255 million yuan from January to October 2025 [2] - Jinli New Energy has a total of 46 production lines, with over 70% of its capacity coming from advanced wide-width equipment launched in 2023 and beyond, enabling efficient production of ultra-thin separators [2] Industry Summary - The lithium battery separator industry has stabilized in pricing since 2025, with a significant increase in demand for ultra-thin high-strength separators, which are expected to have a large market penetration and growth potential [2] - The shipment volume of wet-process separators is projected to reach 11 billion square meters in 2024, with an expected increase to over 40 billion square meters in 2025, indicating a growth rate significantly higher than the overall industry average [2] - The market for lithium battery separators is improving, with a reported 49% year-on-year increase in shipments in the first half of 2025, and wet-process separators accounting for over 80% of the total shipments [3]

Group 1 - The core viewpoint of the news is that Foshan Plastics Technology Co., Ltd. has shown significant stock performance with a year-to-date increase of 112.87% and a recent market capitalization of 12.57 yuan per share, totaling 121.61 billion yuan [1] - As of November 30, 2025, Foshan Plastics reported a revenue of 1.662 billion yuan, reflecting a year-on-year growth of 1.57%, and a net profit attributable to shareholders of 83.92 million yuan, up 0.83% year-on-year [2] - The company has a diverse revenue structure, with the main business segments including biaxially oriented films (36.69%), dialysis protective materials (19.68%), and plastic woven barrier materials (15.66%) [2] Group 2 - Foshan Plastics has a total of 74,500 shareholders as of November 30, 2025, which is a decrease of 16.01% from the previous period, while the average circulating shares per person increased by 19.06% to 12,982 shares [2] - The company has distributed a total of 798 million yuan in dividends since its A-share listing, with 140 million yuan distributed in the last three years [3] - As of September 30, 2025, Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 11.7494 million shares as a new shareholder [3]