Group 1 - The solid-state battery industry is experiencing positive growth, with over 80% of listed companies showing revenue growth in the first half of 2025 compared to the same period in 2024 [2][3] - The fastest revenue growth in the lithium battery anode sector was recorded by Shangtai Technology, with a year-on-year increase of 61.83% in the first half of 2025 [2] - The overall trend for net profit in the lithium battery anode industry is positive, with 80% of listed companies reporting an increase in net profit compared to the first half of 2024 [3] Group 2 - The shipment volume data for the first half of 2025 shows a general positive growth trend, with a 120% increase in shipment volume for Suotong Development [4] - Approximately 50% of listed companies reported a shipment volume growth rate of over 20% in the first half of 2025 [4] - The shipment volume for Beiterui reached 26 million units in the first half of 2025, reflecting a year-on-year growth of 32.83% [5] Group 3 - Beiterui achieved a revenue of 7.838 billion yuan in the first half of 2025, representing an 11.36% year-on-year increase, while net profit decreased by 2.88% to 479 million yuan [8][9] - The gross margin for Beiterui increased by 1.34 percentage points, and the net margin increased by 0.41 percentage points compared to the first half of 2024 [9][10] - The company has a production capacity of 57.5 million tons per year for anode materials and 7.3 million tons per year for cathode materials [8] Group 4 - Shanshan Co., Ltd. reported a revenue of 9.858 billion yuan in the first half of 2025, with a net profit of 207 million yuan, marking a significant year-on-year increase of 1059.59% [14] - The gross margin and net margin for Shanshan Co., Ltd. improved compared to the first half of 2024, with gross margin increasing by 1.78 percentage points [14][15] - The company has established long-term stable partnerships with major battery manufacturers such as CATL and BYD [15] Group 5 - The overall revenue for the lithium battery anode sector in the first half of 2025 was 36.13 billion yuan, reflecting a 59.60% increase year-on-year, with net profit reaching 2.72 billion yuan, a 293.13% increase [22] - The gross margin and net margin for Zhongke Electric improved significantly, with gross margin increasing by 2.71 percentage points [22][23] - The company has established stable partnerships with major clients including CATL and BYD [23] Group 6 - Shangtai Technology reported a revenue of 3.388 billion yuan in the first half of 2025, a 61.83% increase year-on-year, with net profit reaching 479 million yuan, a 34.37% increase [27] - The company has entered the supply chain of major battery manufacturers such as CATL and BYD, enhancing its market presence [29] - The company has successfully completed the construction of its North Su Phase II project, significantly increasing its production capacity [24][26] Group 7 - Yicheng Energy achieved a revenue of 2.069 billion yuan in the first half of 2025, a 9.71% increase year-on-year, while net profit improved to -170 million yuan, a reduction in losses by 61.65% [38][39] - The company has established a production base for anode materials, enhancing its operational efficiency [36] - The gross margin for Yicheng Energy increased by 1.54 percentage points compared to the first half of 2024 [38] Group 8 - Suotong Development reported a revenue of 8.306 billion yuan in the first half of 2025, a 28.28% increase year-on-year, with net profit soaring by 1568.52% to 523 million yuan [43] - The company has seen significant improvements in both gross margin and net margin, with gross margin increasing by 6.98 percentage points [43][42] - The company’s anode product output reached 4.29 million tons, reflecting an 84.91% increase year-on-year [42] Group 9 - The overall market for lithium battery anode materials is characterized by high growth rates, with a concentration of major players dominating the market [49] - The global market concentration for lithium battery anode materials is over 60%, with Chinese companies maintaining a high market share [49] - The industry is witnessing a trend of strong players becoming stronger, with significant barriers to entry for new competitors [35]

Core Insights - The battery sector experienced a significant increase of 2.24% on the trading day, with Pylon Technologies leading the gains [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Battery Sector Performance - Pylon Technologies (688063) saw a closing price of 74.24, with a remarkable increase of 19.99% and a trading volume of 251,500 shares, amounting to a transaction value of 1.779 billion [1] - Other notable performers included: - Fulin Precision (300432) with a closing price of 22.22, up 19.98%, and a transaction value of 509.8 million [1] - Defang Nano (300769) closed at 46.31, up 12.79%, with a transaction value of 2.106 billion [1] - Hunan YN (301358) closed at 60.42, up 12.01%, with a transaction value of 2.770 billion [1] Capital Flow Analysis - The battery sector experienced a net outflow of 208 million from institutional investors, while retail investors contributed a net inflow of 1.632 billion [2][3] - The capital flow for key stocks included: - EVE Energy (300014) with a net inflow of 528 million from institutional investors [3] - Fulin Precision (300432) saw a net outflow of 424 million from institutional investors [3] - Tianji Co. (002759) had a net inflow of 339 million from institutional investors [3]

证券代码：001301 证券简称：尚太科技 公告编号：2025-108 | 股东名称 减持方式 | 减持期间 | 减持均价 | 减持股数 | 减持数量占公 司总股本比例 | | --- | --- | --- | --- | --- | | | | | （万股） | （%） | | 集中竞价交 易 | 2025年8月 22日至2025 | 72.71 | 4.3750 | 0.0168 | | | 年9月26日 | | | | | 王惠广 | | | | | 2、股东本次减持计划前后持股情况 | 股东名 | 股份性质 | 本次减持计划前持有股份 | | 本次减持计划后持有股份 | | | --- | --- | --- | --- | --- | --- | | 称 | | 股数（股） | 占公司总股 | 股数（股） | 占公司总股 | | | | | 本比例 | | 本比例 | | 王惠广 | 合计持有股份 | 175,000 | 0.0671% | 131,250 | 0.0503% | 石家庄尚太科技股份有限公司 关于高级管理人员股份减持计划实施完毕的公告 公司高级管理人员王惠广先生保证向本公司提供的信 ...

Core Viewpoint - The company announced the completion of a share reduction plan by senior management, indicating a strategic move in its stock management [1] Summary by Relevant Sections - **Share Reduction Details** - Senior management member Wang Huiguang executed a share reduction plan from August 22, 2025, to September 26, 2025, selling 43,800 shares at an average price of 72.71 yuan per share, representing a reduction of 0.0168% [1] - Prior to the reduction, Wang held 175,000 shares, accounting for 0.0671% of total shares; after the reduction, he holds 131,200 shares, which is 0.0503% of total shares [1] - All remaining shares held by Wang are subject to trading restrictions, totaling 131,200 shares, which also accounts for 0.0503% [1]

Core Viewpoint - The company plans to issue convertible bonds to raise up to 1.734 billion yuan for a project aimed at producing 200,000 tons of lithium battery anode materials annually, amidst a competitive market environment [1][2] Group 1: Company Financials and Growth - The company reported a revenue of 5.229 billion yuan and a net profit of 838 million yuan for 2024 [1] - The shipment volume of anode materials is expected to reach 216,500 tons in 2024, representing a year-on-year growth of 54% [1] - The average product price has decreased from 39,200 yuan per ton in 2022 to 21,700 yuan per ton in 2024 due to increased competition [1] Group 2: Production Capacity and Market Demand - The company’s expansion aligns with the capacity planning of downstream lithium battery manufacturers, with a projected global lithium battery shipment of 1,545.1 GWh in 2024, leading to an additional demand of approximately 1.53 million tons for anode materials [2] - The company anticipates a production capacity utilization rate of 127.35% for anode materials in 2024, supported by sufficient orders [2] - New products are focused on high-end demands such as fast charging and energy storage, effectively avoiding homogenization in competition [2] Group 3: Safety and Regulatory Issues - The company reported two safety incidents in October 2023 and November 2024, resulting in casualties and administrative penalties, but these incidents were not classified as major violations [2]

Group 1 - The core point of the news is that Shangtai Technology's stock price increased by 5.01% to 69.19 CNY per share, with a trading volume of 409 million CNY and a turnover rate of 3.77%, resulting in a total market capitalization of 18.045 billion CNY [1] - Shangtai Technology, established on September 27, 2008, and listed on December 28, 2022, specializes in the research, production, and sales of lithium-ion battery anode materials and carbon products [1] - The company's main business revenue composition includes: anode materials 91.57%, graphitized coke 4.29%, others 3.62%, and diamond carbon source 0.52% [1] Group 2 - According to data from the top ten heavy stocks of funds, one fund under Jianxin Fund holds a significant position in Shangtai Technology [2] - Jianxin Environmental Industry Stock A (001166) held 279,800 shares in the second quarter, accounting for 3.48% of the fund's net value, ranking as the tenth largest heavy stock [2] - The fund has achieved a year-to-date return of 22.94% and a one-year return of 37.83%, with a total fund size of 392 million CNY [2] Group 3 - The fund manager of Jianxin Environmental Industry Stock A is Huang Ziling, who has been in the position for 4 years and 152 days [3] - Under Huang Ziling's management, the fund's total asset size is 1.302 billion CNY, with the best return during his tenure being 51.62% and the worst return being 23.87% [3]

证券简称：尚太科技 证券代码：001301 关于石家庄尚太科技股份有限公司申请 向不特定对象发行可转换公司债券的 审核中心意见落实函的回复 保荐人（主承销商） （深圳市罗湖区红岭中路 1012 号国信证券大厦十六层至二十六层） 深圳证券交易所： 贵所于 2025 年 9 月 17 日出具的《关于石家庄尚太科技股份有限公司申请向 不特定对象发行可转换公司债券的审核中心意见落实函》（审核函〔2025〕120038 号）（以下简称"落实函"）已收悉，石家庄尚太科技股份有限公司（以下简称"发 行人"、"尚太科技"或"公司"）与国信证券股份有限公司（以下简称"国信证 券"或"保荐机构"）等相关方对落实函所列问题进行了逐项核查，现回复如下， 请予审核。 如无特别说明，本落实函回复使用的简称与《石家庄尚太科技股份有限公司 向不特定对象发行可转换公司债券募集说明书（上会稿）》中的释义相同。 | 审核问询函所列问题 | 黑体（不加粗） | | --- | --- | | 审核问询函所列问题答复 | 宋体 | | 对募集说明书的修改与补充 | 楷体（加粗） | 注：本落实函回复部分表格中单项数据加总数与表格合计数可能存在微小差异 ...

关于石家庄尚太科技股份有限公司 申请向不特定对象发行可转换公司债券的审核中心 意见落实函有关财务问题回复的专项说明 关于石家庄尚太科技股份有限公司 申请向不特定对象发行可转换公司债券的审核中心意见落实函 有关财务问题回复的专项说明 中国杭州市钱江新城新业路 8 号 UDC 时代大厦 A 座 5-8 层、12 层、23 层 www.zhcpa.cn Floors5-8,12and23,Block A,UDC Times Building,No.8 Xinye Road，Qianjiang New City,Hangzhou Tel.0571-88879999 Fax.0571-88879000 中汇会专[2025]10898 号 深圳证券交易所： 根据贵所 2025 年 9 月 17 日出具的《关于石家庄尚太科技股份有限公司申 请 向不特定对象发行可转换公司债券的审核中心意见落实函》(审核函〔2025〕 120038 号) (以下简称"落实函")的要求，我们作为石家庄尚太科技股份有限 公司(以下简称"公司""尚太科技"或"发行人") 申请向不特定对象发行可 转换公司债券的申报会计师，对落实函有关财务问题进行了认 ...

证券代码：001301 证券简称：尚太科技 公告编号：2025-107 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。 石家庄尚太科技股份有限公司（以下简称"公司"）于2025年9月17日收到 深圳证券交易所（以下简称"深交所"）出具的《关于石家庄尚太科技股份有限 公司申请向不特定对象发行可转换公司债券的审核中心意见落实函》（审核函 〔2025〕120038号，以下简称"意见落实函"）。深交所对公司报送的向不特定 对象发行可转换公司债券的申请文件进行了审核，发出《意见落实函》要求公司 对相关问题逐项落实并提交回复。 公司按照《意见落实函》的要求，已会同相关中介机构针对《意见落实函》 所列问题进行了认真研究和回复，并对募集说明书等相关申请文件内容进行了更 新。现根据相关要求对《意见落实函》进行回复并对相关申请文件予以披露，具 体内容详见公司同日在巨潮资讯网（www.cninfo.com.cn）披露的相关文件。 公司本次向不特定对象发行可转换公司债券事项尚需通过深交所审核，并获 得中国证券监督管理委员会（以下简称"中国证监会"）会作出同意注册的决定 后方可实施。 ...

石家庄尚太科技股份有限公司 （无极县里城道乡南沙公路西侧） 向不特定对象发行可转换公司债券 募集说明书 （上会稿） 保荐机构（主承销商） （深圳市罗湖区红岭中路 1012 号国信证券大厦十六层至二十六层） 二零二五年九月 证券简称：尚太科技 证券代码：001301 石家庄尚太科技股份有限公司 募集说明书 声 明 本公司及全体董事、监事、高级管理人员承诺募集说明书及其他信息披露资 料不存在任何虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性及完整 性承担相应的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财务 会计资料真实、完整。 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对申请 文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的 盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之相反 的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由发 行人自行负责。投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担证券依法发行后因发行人经营与收益变化或者证券价格变动引致的投资风险。 1-1 ...