Core Viewpoint - The acquisition of Hebei Jinli New Energy Technology Co., Ltd. by Foshan Plastics Technology Co., Ltd. for a total consideration of 5.08 billion yuan is seen as a strategic move towards the new energy sector, but concerns regarding Jinli's financial performance and operational risks overshadow the deal [1][4]. Financial Performance - Jinli's main business involves lithium battery wet separators, with a projected net loss of 91.34 million yuan for 2024 due to a supply-demand imbalance in the industry [1]. - The company's net profit fluctuated significantly, dropping from 364 million yuan in 2022 to 135 million yuan in 2023, and only 8.29 million yuan in the first three quarters of 2024, indicating a fragile profit model [1][2]. Performance Guarantees - The acquisition includes performance guarantees for Jinli, promising net profits of no less than 230 million yuan, 360 million yuan, and 610 million yuan for the years 2025-2027, but doubts arise due to the substantial loss in 2024 [2]. - Historical data shows that Jinli has previously failed to meet high-performance commitments, with completion rates below 50% in some years [2]. Customer Dependency - Jinli's high customer concentration poses a significant risk, as delays in payments from major clients have previously led to cash flow issues and legal actions [2]. - The competitive pricing environment in 2024 may further weaken Jinli's profitability due to the bargaining power of large customers [2]. Debt and Financial Health - Jinli's debt levels have surged due to high-leverage financing for expansion, with a debt-to-asset ratio rising from 53.33% at the end of 2023 to 61.05% in September 2024, significantly above the industry average of around 40% [3]. - Foshan Plastics has also seen a notable increase in short-term borrowings, with a year-on-year rise of 52.45% in the first quarter of 2025 [3]. Legal and Technical Risks - Jinli has faced patent infringement disputes with industry leader Enjie, with claims amounting to several hundred million yuan, raising concerns about its technical independence [4]. - The high technical barriers in the separator industry, requiring over four years for equipment procurement and customer certification, may hinder the expected synergies from the acquisition [4]. Overall Assessment - While the acquisition aligns with the growth potential in the new energy sector, Jinli's underutilized capacity, customer dependency, profit volatility, and debt risks present significant uncertainties [4].

Group 1 - The company, Foshan Fosp Technology Group Co., Ltd., announced the 2024 annual performance briefing will be held on May 15, 2025, from 15:30 to 16:30 [1] - The briefing will be conducted online through "Value Online," allowing investors to participate via a dedicated website or WeChat [1] - Key personnel attending the briefing include the company's president, independent directors, and financial director [1] Group 2 - The company is inviting investors to submit questions in advance to enhance the relevance of the discussion during the performance briefing [2] - Investors can submit their questions through a specified website or via email before May 15, 2025 [2] - The company will address commonly asked questions during the briefing, within the limits of information disclosure regulations [2]

为充分尊重投资者、提升交流的针对性，现就本次业绩说明会提前向投资者公开征集 问题，广泛听取投资者的意见和建议。投资者可于 2025年5月15日前通过网址 https://eseb.cn/1o6w82u2c12或使用微信扫描下方小程序码进行会前提问，也可通过电 子邮件的形式发送至公司邮箱：dmb@fspg.com.cn。在信息披露允许的范围内，公司将在 本次业绩说明会上对投资者普遍关注的问题进行回答。 欢迎广大投资者积极参与本次业绩说明会。 证券代码：000973 证券简称：佛塑科技 公告编号：2025-25 佛山佛塑科技集团股份有限公司 关于召开 2024 年年度业绩说明会的公告 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）于 2025 年 3 月 29 日在《中国证券 报》《证券时报》、巨潮资讯网（http://www.cninfo.com.cn）披露了《2024 年年度报 告》及其摘要。 为了便于广大投资者进一步了解公司 2024 年度经营情况，公司定于 2025 年 5 月 15 日（星期四）下午 15: ...

Core Viewpoint - 佛塑科技 plans to acquire 100% of 金力股份 for a total transaction price of 50.8 billion yuan, aiming to enhance its position in the lithium battery separator market [1][2] Group 1: Acquisition Details - 佛塑科技 will pay 46.8 billion yuan in shares and 4 billion yuan in cash for the acquisition of 金力股份 [2] - The acquisition is classified as a major asset restructuring but will not change the control of the listed company [2] - The acquisition is expected to facilitate 佛塑科技's entry into the lithium battery separator market, particularly for electric vehicles and energy storage [2] Group 2: 金力股份 Overview - 金力股份 specializes in the research, production, and sales of lithium battery wet separators and has notable clients including 宁德时代 and 比亚迪 [3] - The company has multiple shareholders, with the current controlling shareholder being 北京华浩世纪投资有限公司 [2] Group 3: Financial Performance and Projections - 金力股份 experienced a revenue increase in 2023-2024, but net profit showed significant volatility, with projected revenue around 2.64 billion yuan in 2024 [4] - The company is expected to achieve net profits of no less than 230 million yuan, 360 million yuan, and 610 million yuan for the years 2025, 2026, and 2027 respectively [5] - The market for lithium battery separators is anticipated to recover, with expectations of increased demand and sales volume exceeding 4.5 billion square meters in 2025 [5]

交易完成后， 双方将进行 供应链整合， 佛塑科技也会以 隔膜作 突破点进入新能源行业 ， 2024 年总资产 也会 增长到 179 亿元，营收 也会因此 大幅增加。 去年自下半年起隔膜市场逐渐趋于稳定， 价格止跌， 加之 下游 储能 行业需求扩张，隔膜行业利润 也在稳步回升，起点研究院（ SPIR ） 调研数据显示， 2024 全球锂电池隔膜出货量近 260 亿平，同比增长 26.8% ，其中湿法隔膜出货量 202.1 亿平，占整体出货量重新回 升，主要是因为储能领域 314Ah 电芯逐步替代 280Ah ，而 314Ah 电芯使用湿法隔膜居多。 同时起点研究院（ SPIR ）预计随着下游锂电池出货量的持续增长，将带动 2025 年全球隔膜出货量达 325.3 亿平，同比增长 25.5% 。 风云再起。 起点锂电获悉， 4 月 29 日佛塑科技发布 公告称 ，拟购买袁海朝等 102 名交易对方持有的金力股份 100% 的股份，交易对价合计为 50.8 亿元，其中发行股份 46.8 亿元，现金支付 4 亿元。 隔膜老将用产品赢得肯定 佛塑科技 主要产品是 先进高分子新材料， 细分为 光学薄膜、双向拉伸薄膜、渗析 ...

Core Viewpoint - 佛塑科技 announced a major asset restructuring plan to acquire 100% of 河北金力新能源科技股份有限公司 (金力股份) for a total transaction price of 5.08 billion yuan, which includes issuing shares and cash payments [1][2] Group 1: Acquisition Details - The acquisition price for 金力股份 is set at 5.08 billion yuan, with 4.68 billion yuan paid through share issuance and 400 million yuan in cash [2] - 佛塑科技 plans to raise up to 1 billion yuan from its controlling shareholder, 广新集团, to fund the cash portion of the acquisition and for working capital and debt repayment [1][2] - The acquisition will not involve a restructuring of the listed company or a change in control [2] Group 2: Company Background - 金力股份 specializes in the research, production, and sales of lithium battery wet separators, positioning itself within the high polymer film material sector [2] - The company has notable shareholders including 比亚迪 and 珠海冠宇, and its clients are major players in the lithium-ion battery industry such as 宁德时代 and 亿纬锂能 [2] Group 3: Financial Performance and Projections - 金力股份 is expected to generate approximately 2.64 billion yuan in revenue for 2024, but its net profit is projected to turn from profit to loss due to industry supply-demand imbalances [3] - The company has committed to achieving net profits of no less than 230 million yuan, 360 million yuan, and 610 million yuan for the years 2025, 2026, and 2027, respectively [3] - In the first quarter of this year, 金力股份 returned to profitability, and it is anticipated that the market demand for lithium battery wet separators will continue to grow into 2025 [3]

证券代码：000973 证券简称：佛塑科技 公告编号：2025-24 佛山佛塑科技集团股份有限公司 关于召开 2025 年第一次临时股东大会的通知 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。 一、召开会议的基本情况 （一）股东大会届次：佛山佛塑科技集团股份有限公司（以下简称公司）2025 年第一次临时股东大会 （二）股东大会的召集人：公司董事会 2025 年 4 月 29 日，公司第十一届董事会第二十五次会议审议通过了《关于召开 公司 2025 年第一次临时股东大会的有关事项》。 （三）会议召开的合法合规性说明：公司董事会认为本次股东大会的召开符合 有关法律法规、规章和《公司章程》的规定。 （四）会议召开日期、时间 1.现场会议时间：2025 年 5 月 20 日（星期二）下午 15:00 时 2.网络投票时间： （1）通过深圳证券交易所交易系统投票的具体时间为：2025 年 5 月 20 日的交 易时间，即 9:15—9:25，9:30—11:30 和 13:00—15:00。 （2）通过深圳证券交易所互联网投票系统投票的具体时间为：开始投票的时间 为 ...

Group 1 - Foshan Fosptech plans to acquire 100% of Hebei Jinli New Energy Technology Co., Ltd. for a total consideration of 5.08 billion yuan, with 4 billion yuan in cash and 4.68 billion yuan through share issuance [1] - The acquisition aims to enhance Foshan Fosptech's presence in the new energy sector, particularly in lithium battery separators, leveraging Jinli's competitive advantages in product layout and customer resources [2] - Post-transaction, Foshan Fosptech's total assets are expected to increase from 4.796 billion yuan to 17.9 billion yuan, a growth rate of 273.23%, while revenue is projected to rise from 2.228 billion yuan to 4.866 billion yuan, reflecting a growth rate of 118.43% [2] Group 2 - Jinli New Energy holds an 18% market share in China's wet-process separator market, ranking second in the industry, indicating strong competitive positioning [2] - The lithium battery separator industry is experiencing a recovery, with significant growth in shipment volumes, particularly for wet-process separators, which are expected to reach 5.3 billion square meters in Q1 2025, a year-on-year increase of 75% [3] - The transaction is anticipated to improve Jinli's financial structure and profitability by optimizing its debt and enhancing its financing channels through the public company platform [3]

Core Viewpoint - Foshan Plastics Technology (佛塑科技) plans to acquire 100% of Jinyi Co., Ltd. (金力股份) to enter the lithium battery separator market, with a total valuation of 5.08 billion yuan for the acquisition [1][3]. Company Overview - Foshan Plastics Technology, established in 1988, is a state-owned enterprise under Guangxin Group, focusing on high polymer functional films and composite materials [3]. - Jinyi Co., Ltd. specializes in the research, production, and sales of lithium battery wet separators, holding an 18% market share in China's wet separator market, ranking second [3][4]. Market Opportunity - The global electric vehicle industry is rapidly developing, creating unprecedented opportunities for separators, which are key materials in lithium batteries [3]. - In 2024, China's lithium battery separator shipment volume is projected to reach 22.75 billion square meters, a year-on-year increase of 28.6%, with wet separators accounting for approximately 76.9% of this volume [3][10]. Technical Advantages - Jinyi's wet separator technology offers performance advantages over dry separators, improving thermal stability and battery safety, while also enhancing battery cycle life and discharge capacity [4]. - The market share of wet separators has increased from about 50% in 2017 to over 75% in 2024, establishing them as the dominant product in the industry [4]. Strategic Benefits of the Acquisition - The merger is expected to enhance Foshan Plastics Technology's product offerings in high-end separators, leveraging both companies' technological achievements [7][8]. - With Jinyi's technical support, Foshan Plastics can officially enter the lithium battery separator sector, expanding its product portfolio in the new energy field [8]. - The acquisition will allow Foshan Plastics to utilize Jinyi's established customer resources to quickly penetrate the lithium battery separator market [8]. Financial Impact - Following the acquisition, Foshan Plastics' total assets are expected to increase from 4.796 billion yuan to 17.9 billion yuan, a growth rate of 273.23%, while revenue is projected to rise from 2.228 billion yuan to 4.867 billion yuan, a growth rate of 118.43% [9]. - This significant increase in asset scale and revenue is anticipated to enhance the company's risk resistance capabilities [9]. Industry Environment - The lithium battery separator market is expected to stabilize in pricing and see continued demand growth from the downstream lithium battery industry starting in the second half of 2024 [10]. - Government policies, such as the "Carbon Peak Action Plan before 2030," are creating a favorable environment for the lithium battery separator industry [10].

证券代码：000973 证券简称：佛塑科技 公告编号：2025-19 佛山佛塑科技集团股份有限公司 第十一届监事会第十四次会议决议公告 本公司监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。 章等规范性文件规定之各项条件。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 本项议案尚须提交公司股东大会审议。 佛山佛塑科技集团股份有限公司（以下简称公司）监事会于 2025 年 4 月 25 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 监事会第十四次会议的通知，会议于 2025 年 4 月 29 日在公司总部会议室以现场会 议表决方式召开，由监事会主席叶志超主持，应参加会议监事 3 人，实际参加会议 监事 3 人。会议符合《公司法》及《公司章程》的有关规定。会议审议通过了以下 议案： 公司拟发行股份及支付现金购买河北金力新能源科技股份有限公司（以下简称 金力股份或标的公司）股份（以下简称标的资产），并发行股份募集配套资金（以 下合称本次交易）。 以下第一至第二十二项议案为本次交易相关议案。 本次监事会审议情况具体如下： 一、审议通过了 ...