联合主承销商：中信证券股份有限公司 证券代码：001301 证券简称：尚太科技 公告编号：2026-010 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中签号码公告 保荐人（联合主承销商）：国信证券股份有限公司 联合主承销商：兴业证券股份有限公司 1、网上投资者申购可转债中签后，应根据《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中签号码公告》履行资金交收义务，确保其资 金账户在 2026 年 1 月 20 日（T+2 日）日终有足额的认购资金，投资者款项划付 需遵守投资者所在证券公司的相关规定。投资者认购资金不足的，不足部分视为 放弃认购，由此产生的后果及相关法律责任，由投资者自行承担。根据中国结算 深圳分公司的相关规定，放弃认购的最小单位为 1 张。网上投资者放弃认购的部 分由保荐人（联合主承销商）包销。 2、当原股东优先认购和网上投资者申购的可转债数量合计不足本次发行数 量的70%时；或当原股东优先认购和网上投资者缴款认购的可转债数量合计不足 本次发行数量的70%时，发行人及联合主承销商将协商是否采取中止发行措施， 并及时向深交所报告，如果中止发行，将就中止发行的原因和后续安 ...

Core Viewpoint - The lithium battery industry is entering a new cyclical growth phase in 2026, characterized by strong demand recovery, accelerated global expansion, and disruptive technological iterations, leading to a "spiral rise" in both quantity and price [3]. Group 1: Market Outlook - Global lithium battery production is projected to reach 2250 GWh by 2025, with a growth rate of 30% in 2026, and the energy storage sector is expected to grow at an impressive rate of 48.3% [5]. - The demand surge is expected to significantly impact the supply of battery cells and four major upstream materials, highlighting a potential supply gap in the future [5]. Group 2: Conference Details - The 2026 Lithium Key Materials and Application Market Summit will be held on March 19-20, 2026, in Changzhou, Jiangsu, organized by Xinluo Information [4]. - The summit will focus on three core topics: in-depth discussions on cutting-edge technologies and market supply-demand dynamics, the announcement of the "Top Ten Lithium Material Brands of 2025," and B2B procurement matchmaking [5][6][7]. Group 3: Key Topics and Speakers - The main forum will cover topics such as the outlook for lithium ore resource supply, operational strategies for lithium carbonate in the current market environment, and advancements in high-energy-density power battery technology [9]. - Sub-forums will address the current status and development trends of key materials for power batteries, solid-state battery industry trends, and the optimization of revenue structures for energy storage projects under policy empowerment [11].

Group 1 - The core point of the article is that Shijiazhuang Shangtai Technology Co., Ltd. has successfully issued convertible bonds totaling 1.734 billion yuan, with a significant portion allocated for preferential subscription by existing shareholders [1][3] - On January 16, 2026, the company's stock closed at 82.73 yuan, down 4.85%, with a turnover rate of 4.22% and a trading volume of 78,500 shares, resulting in a transaction amount of 655 million yuan [1] - The net inflow of main funds on January 16 was 53.29 million yuan, indicating a clear accumulation trend [3] Group 2 - The issuance of convertible bonds has been approved by the Shenzhen Stock Exchange and registered with the China Securities Regulatory Commission, with a total of 17.34 billion yuan and a face value of 100 yuan per bond [1] - Existing shareholders were allocated 12,434,796 bonds, accounting for 71.71% of the total issuance, while the public investors' effective subscription reached 94,916,831,430 bonds, resulting in a winning rate of approximately 0.0052% [1][3] - The remaining portion of the bonds will be underwritten by joint lead underwriters, with a maximum underwriting amount of 520.2 million yuan [1]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - Last week, the A - share market first rose and then declined. The daily trading volume of the whole market reached a record high of 3.99 trillion yuan on Wednesday. After the exchange adjusted the margin ratio for margin trading, market sentiment cooled down. The commercial aerospace sector retreated from its high, and the market focus shifted to AI applications, semiconductors, etc. The bond market yield declined, and the 10 - year Treasury bond rate closed at 1.84% on Friday, down 3.58bp from the previous week [1][8][9]. - In the convertible bond market, most individual convertible bonds rose last week. The CSI Convertible Bond Index increased by 1.08% for the whole week, the median price increased by 0.63%, and the arithmetic average parity increased by 1.39%. The conversion premium rate of the whole market decreased by 0.64% compared with the previous week [2][9]. - Although the current market price and the valuation of convertible bonds in each parity range are close to the 100% quantile position in history, the equity market is in a clear upward trend. Institutions are more worried about missing out on the upward trend than about market declines, which strongly supports the valuation of convertible bonds. Currently, it is the stage with the strongest certainty of upward market momentum [3][19]. - For relative returns, it is recommended to focus on lithium - battery, semiconductor equipment and materials, chemical industry, and securities brokerage sectors. For absolute - return funds, attention should be paid to the undervalued leading companies in the still - stagnant industries [4][20]. 3. Summary According to Relevant Catalogs Market Focus (January 12 - January 16, 2026) Stock Market - The A - share market first rose and then declined. The daily trading volume reached a record high on Wednesday. After the adjustment of the margin ratio for margin trading, market sentiment cooled down. The commercial aerospace sector retreated from its high, and the market focus shifted to AI applications, semiconductors, etc. The dividend - paying sector still underperformed. Most Shenwan primary industries declined, with computer, electronics, non - ferrous metals, media, and machinery leading the gains, and national defense and military industry, real estate, agriculture, forestry, animal husbandry, and coal performing poorly [1][8][9]. Bond Market - Although the equity market continued to rise at the beginning of the week, the impact on the bond market weakened significantly. Due to the increasing expectation of an equity market adjustment after a rapid rise, the bond market yield declined. After the central bank cut the interest rate of structural monetary policy tools on Thursday, the yield fluctuated and remained stable overall. The 10 - year Treasury bond rate closed at 1.84% on Friday, down 3.58bp from the previous week [1][9]. Convertible Bond Market - Most individual convertible bonds rose. The CSI Convertible Bond Index increased by 1.08% for the whole week, the median price increased by 0.63%, and the arithmetic average parity increased by 1.39%. The conversion premium rate of the whole market decreased by 0.64% compared with the previous week. Most industries in the convertible bond market rose, with computer, electronics, media, and machinery leading the gains, and national defense and military industry, building materials, coal, and transportation performing poorly. The top - rising individual bonds were related to semiconductors and AI applications, while the top - falling ones were mainly from the commercial aerospace sector [2][9][13]. Views and Strategies (January 19 - January 23, 2026) - The consensus on the upward trend supports the valuation of convertible bonds. The equity market first rose and then declined last week, and the theme shifted from aerospace to AI applications and semiconductor equipment. The relevant convertible bonds performed well, the average parity increased further, and the median market price rose to 139 yuan. The premium rate of equity - biased convertible bonds in the high - parity range increased significantly, and the convertible bond ETF still showed a significant net inflow trend. Newly - listed bonds were still strong [3][19]. - For relative returns, focus on high - probability equity - biased sectors such as lithium - battery (price increases are gradually implemented, and domestic and overseas demand is booming), semiconductor equipment and materials (expansion of Changxin and Changcun, and increasing localization rate), chemical industry (anti - involution in the polyester industry chain), and securities brokerage (benefiting from the booming stock market trading volume and previous underperformance). For absolute - return funds, pay attention to the undervalued leading companies in the still - stagnant industries, including two - wheeled vehicles, beauty and personal care, architectural design, and pig farming [4][20]. Valuation Overview - As of January 16, 2026, for equity - biased convertible bonds, the average conversion premium rates in different parity ranges are at high quantile positions in history. For debt - biased convertible bonds, the average YTM of bonds with a parity below 70 yuan is in the lower quantile position. The average implied volatility of all convertible bonds and the difference between the implied volatility of convertible bonds and the long - term actual volatility of the underlying stocks are also at high quantile positions [21]. Primary Market Tracking - Last week (January 12 - January 16, 2026), Shangtai Convertible Bond and Naipu Convertible Bond 02 announced their issuance, and Aohong, Shuangle, and Jin 05 Convertible Bonds were listed. In the future week (January 19 - January 23, 2026), there are no announcements of convertible bond issuance and listing. Last week, 4 companies got the exchange's approval for registration, 1 company's application was accepted by the exchange, 2 companies' plans passed the shareholders' meeting, and 4 companies released board proposals. Currently, there are 99 convertible bonds to be issued, with a total scale of 155.14 billion yuan [28][34].

证券代码：001301 证券简称：尚太科技 公告编号：2026-009 向不特定对象发行可转换公司债券 网上发行中签率及优先配售结果公告 保荐人（联合主承销商）：国信证券股份有限公司 联合主承销商：兴业证券股份有限公司 联合主承销商：中信证券股份有限公司 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、 误导性陈述或重大遗漏。 特别提示 石家庄尚太科技股份有限公司（以下简称"尚太科技"、"发行人"或"公 司"）和国信证券股份有限公司（以下简称"国信证券"、"保荐人（联合主承 销商）"）、联合主承销商兴业证券股份有限公司（以下简称"兴业证券"） 、 联合主承销商中信证券股份有限公司（以下简称"中信证券"） （国信证券、 兴业证券及中信证券合称"联合主承销商"） 根据《中华人民共和国证券法》 《上市公司证券发行注册管理办法》（证监会令[第 227 号]）、《证券发行与承 销管理办法》（证监会令[第 228 号]）、《深圳证券交易所上市公司证券发行与 承销业务实施细则（2025 年修订）》（深证上[2025]268 号）、《深圳证券交 易所上市公司自律监管指引第 15 号——可转换公司债券（ ...

Core Viewpoint - The company plans to issue convertible bonds to raise funds for expanding its production capacity in the lithium-ion battery anode materials sector, capitalizing on the rapid growth of the industry and increasing market demand [1][4]. Group 1: Company Overview - The company, established in 2008, specializes in the research, production, and sales of lithium-ion battery anode materials and carbon products, focusing on artificial graphite anode materials [2]. - It has become a leading enterprise in the industry, achieving integrated and automated production processes [2]. - The company underwent a strategic transformation in 2017, evolving from a service provider to a high-tech enterprise with in-house R&D and production capabilities [2]. Group 2: Market Position and Growth - The company has significantly expanded its production capacity from 30,000 tons to 120,000 tons between 2019 and 2022, with further expansion planned for 2024 [2]. - The company is currently constructing a 200,000-ton integrated production project in Shanxi Province, which is part of the funding plan for the convertible bonds [3][5]. - Despite intense competition in the anode materials market, the company has achieved rapid growth in market share and revenue, positioning itself among the fastest-growing firms in the industry [3]. Group 3: Financial Details of the Bond Issuance - The total amount to be raised through the convertible bond issuance is capped at 173.4 million yuan, which will be allocated to the 200,000-ton integrated production project [4][5]. - The total investment for the project is estimated at 399.36 million yuan, with a planned construction period of 18 months [5].

Group 1 - The core point of the news is that Shangtai Technology's stock price has dropped by 5.16% to 82.46 CNY per share, with a trading volume of 500 million CNY and a turnover rate of 3.21%, resulting in a total market capitalization of 21.506 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 at 91.57%, graphitized coke at 4.29%, others at 3.62%, and diamond carbon source at 0.52% [1] Group 2 - Hai Futong Fund has one fund heavily invested in Shangtai Technology, specifically the Hai Futong Carbon Neutral Mixed A Fund (013175), which held 265,400 shares, accounting for 3.73% of the fund's net value, ranking as the ninth largest holding [2] - The Hai Futong Carbon Neutral Mixed A Fund, established on September 24, 2021, has a latest scale of 253 million CNY, with a year-to-date return of 2.97%, ranking 5441 out of 8847 in its category, and a one-year return of 66.88%, ranking 955 out of 8094 [2] - The fund manager, Fan Tingfang, has been in position for 6 years and 145 days, with total assets under management of 1.484 billion CNY, achieving the best fund return of 183.62% and the worst return of -31.98% during the tenure [3]

Group 1 - The core point of the article is that Shijiazhuang Shangtai Technology Co., Ltd. has announced the issuance of convertible bonds totaling 1.734 billion yuan, which has been approved by the Shenzhen Stock Exchange and registered with the CSRC [1][2] - The bonds will have a face value of 100 yuan each, totaling 17.34 million bonds, and are referred to as "Shangtai Convertible Bonds" with the code "127112" [1] - Existing shareholders will have priority in subscription, with the record date set for January 15, 2026, and the subscription date for the public set for January 16, 2026 [1] Group 2 - The stock price of Shangtai Technology closed at 86.95 yuan, reflecting a 1.02% increase from the previous trading day, with a total market capitalization of 22.677 billion yuan [1] - The stock opened at 86.09 yuan, reached a high of 87.5 yuan, and a low of 85.09 yuan, with a trading volume of 737 million yuan and a turnover rate of 4.58% [1]

Core Viewpoint - The company, Shangtai Technology, is issuing convertible bonds to raise funds for expanding its production capacity in the lithium-ion battery anode materials sector, capitalizing on the rapid growth of the industry and increasing market demand [1][4]. Group 1: Industry Overview - The lithium-ion battery industry in China is experiencing rapid growth and has become a dominant force in the global market, with significant potential for future expansion in applications such as electric vehicle batteries and energy storage [1]. - The anode materials sector is expected to continue growing due to ongoing improvements in product performance and technology, as well as the maturation of application scenarios [1]. Group 2: Company Development - Shangtai Technology was established in 2008 and specializes in the research, production, and sales of lithium-ion battery anode materials, particularly artificial graphite [2]. - The company has undergone a strategic transformation since 2017, evolving from a processing service provider to a high-tech enterprise with integrated production capabilities [2]. - From 2019 to 2022, the company expanded its production capacity significantly, with new production lines established in Shanxi Province, culminating in a total capacity of 100,000 tons by 2024 [2]. Group 3: Business Strategy - The company is currently advancing a project in Shanxi Province aimed at producing 200,000 tons of lithium battery anode materials, which is a key focus of the funds raised from the bond issuance [3]. - Shangtai Technology is also expanding its international presence with projects in Malaysia and other regions, creating a dual-driven development model [3]. - Despite intense competition in the anode materials market, the company has achieved significant growth in both production capacity and market share, positioning itself as one of the fastest-growing firms in the industry [3]. Group 4: Fundraising Details - The company plans to raise a total of up to 1.734 billion yuan (approximately 173.4 million) through the issuance of convertible bonds, which will be allocated to the 200,000-ton integrated production project [4][5]. - The total investment for the project is estimated at 3.993558 billion yuan, with the bond proceeds covering a portion of this amount [5].

Core Viewpoint - 尚太科技 is actively expanding its production capacity and enhancing its technological capabilities in the lithium-ion battery anode materials sector, aiming to meet increasing market demand and strengthen its competitive position [1][3][5] Group 1: Company Overview - 尚太科技 was established in 2008 and specializes in the research, production, and sales of lithium-ion battery anode materials and carbon products, focusing on artificial graphite anode materials [1] - The company has transitioned from a service provider to a high-tech enterprise with integrated production capabilities, establishing a solid foundation for future growth [2] Group 2: Technological Development - The company’s core technologies include graphitization, pre-carbonization processes, and the preparation of artificial graphite anode materials, which are crucial for its main products [1] - Current research projects involve developing high-rate artificial graphite anode materials and ultra-low expansion products, emphasizing the importance of technological innovation for competitive advantage [1] Group 3: Production Capacity and Expansion - 尚太科技 has significantly increased its production capacity from 30,000 tons to 120,000 tons between 2019 and 2022, with plans for further expansion [2] - The company is currently constructing a 200,000-ton integrated production project in Shanxi Province, which is part of its strategy to enhance capacity and competitiveness [2][5] Group 4: Financial Aspects - The company plans to raise up to 173.4 million yuan through a convertible bond issuance, with the funds allocated for the 200,000-ton integrated production project [3][4] - The total investment for this project is estimated at 399.36 million yuan, indicating a significant commitment to expanding production capabilities [4] Group 5: Market Position and Client Base - Despite intense competition in the anode materials market, 尚太科技 has achieved substantial growth in market share and revenue, positioning itself among the fastest-growing companies in the industry [3] - The company has established relationships with major clients in the lithium-ion battery sector, including CATL and other well-known manufacturers, enhancing its market presence [3]