2025起点锂电圆柱电池技术论坛 暨圆柱电池20强排行榜发布会 2025年2月28日·深圳 2025年2月 活动背景及亮点 1 1、2024下半年以来圆柱电池市场爆发，头部企业供不应求 2、32、40、46等大圆柱系列产品在轻型动力、铅改锂、便携式及户用储能、两轮车及换电、无人机 EVTOL、汽车动力等领域快速放量 3、全极耳、高镍、硅碳、钠电等技术与圆柱电池结合产生新的增长点和市场空间 4、起点研究院（SPIR）圆柱电池综合竞争力排行榜20强权威发布（覆盖圆柱电池电芯、设备、材料等关 环节）为行业做采购参考 5、行业首届聚集圆柱电池的技术高峰论坛，圆柱电池前沿技术、工艺、材料深度探讨和思维碰撞 2025年2月 活动组织架构 2 举办地点： 深圳宝安登喜路国际酒店2楼国际厅 赞助及演讲单位： 武汉逸飞激光股份有限公司 深圳市诚捷智能装备股份有限公司 多氟多新能源科技有限公司 江苏威金迈科技有限公司 浙江蓝京新能工业科技有限公司 深圳市金钠科技有限公司 安徽利维能动力电池有限公司 深圳市日联科技有限公司 深圳市华普森科技有限公司 湖南三迪数字涂装系统有限公司 广东精锐精密工业有限公司 深圳市科迈罗光电技术有限公 ...

Investment Rating - The report maintains an "Overweight" rating for the construction and building materials sectors [9]. Core Insights - The low-altitude and data infrastructure sectors continue to show high prosperity, with January building materials and home furnishings sales increasing year-on-year [12][20]. - The construction activity post-Spring Festival is recovering slowly due to various factors, including local investment directions and weather conditions, necessitating close monitoring of cement and steel shipments [12][13]. - The building materials home furnishings index (BHI) for January was 110.35, reflecting a month-on-month increase of 1.53 points and a year-on-year increase of 8.46 points [20]. - The report emphasizes the positive effects of the "old-for-new" policy on sales, with January sales reaching 1095.27 billion yuan, a year-on-year increase of 3.09% [20]. - Short-term recommendations focus on domestic cyclical demand and supply-constrained varieties, highlighting companies such as Shenzhen Urban Transport, Tunnel Co., China Nuclear Engineering, and others [12][20]. Summary by Sections Industry Overview - The report notes that the low-altitude economy and data infrastructure policies are being actively promoted, with significant investment expected in underground pipelines and existing infrastructure upgrades [12][13]. - The construction material sales recovery is expected to be gradual, influenced by local government investment shifts towards technology and consumption [13][20]. Market Dynamics - As of February 14, the national cement shipment rate was 11.5%, with a week-on-week increase of 5.9 percentage points [12]. - The average price of float glass was 75 yuan per weight box, showing a week-on-week increase of 0.8% but a year-on-year decrease of 30.6% [2][32]. - The report highlights a significant increase in inventory levels for float glass, with a total of 55.27 million weight boxes, a week-on-week increase of 3.9% [2][34]. Company Recommendations - The report recommends several companies for investment, including Shenzhen Urban Transport (301091 CH), Tunnel Co. (600820 CH), and China Nuclear Engineering (601611 CH), among others, with target prices and buy ratings [10][20]. - The report also identifies companies with strong performance in the past week, such as Lifan Technology and Hainan Huatie, which saw significant stock price increases [10][11]. Future Outlook - The report anticipates that the construction and building materials sectors will benefit from improved domestic investment demand in 2025, with a focus on large construction and cement as foundational investments [12][20]. - The potential for growth in the fiberglass and consumer building materials sectors is highlighted, with expectations for continued demand recovery in the coming years [12][20].

证券代码：002080 证券简称：中材科技 公告编号：2025-002 2024 年 10 月 22 日，公司收到交易商协会的《接受注册通知书》（中市协 注[2024]SCP326 号），发行超短期融资券的注册申请已获交易商协会接受，获 准的注册金额为人民币 48 亿元，注册额度自《通知书》落款之日起 2 年内有效。 2025 年 1 月 26 日，公司完成了 2025 年度第一期超短期融资券（科创票据） 人民币 5 亿元的发行，现将发行结果公告如下： | | 中材科技股份有限 公司 2025 年度第一 | | 25 中材科技 SCP001 | | --- | --- | --- | --- | | 名称 | | 简称 | | | | 期超短期融资券 | | （科创票据） | | | （科创票据） | | | | 代码 | 012580325 | 期限 | 270 天 | | 起息日 | 2025 年 1 月 26 日 | 兑付日 | 2025 年 10 月 23 日 | | 实际发行总额 | 5 亿元 | 计划发行总额 | 5 亿元 | | 发行价格 | 100 元/百元 | 发行利率 | 1.82% | ...

Financial Projections - The estimated net profit attributable to shareholders for 2024 is projected to be between 634.01 million and 950.15 million CNY, a decrease of 57.26% to 71.48% compared to the previous year[2]. - The estimated net profit after deducting non-recurring gains and losses is projected to be between 283.10 million and 424.26 million CNY, a decrease of 78.40% to 85.59% compared to the previous year[2]. - The basic earnings per share is expected to be between 0.3778 CNY and 0.5662 CNY, down from 1.3249 CNY in the previous year[2]. Financial Performance Factors - The decline in financial indicators is primarily attributed to the year-on-year decrease in the prices of the company's main products[4]. - The specific financial data for 2024 will be confirmed in the company's annual report[5].

Group 1 - The article reports that a new company named "Shanxi Technology" has been established, with a registered capital of 40 million yuan [1] - The company's business scope includes the production of fiberglass reinforced plastics, sales of fiberglass reinforced plastics, specialized equipment repair, and wind power technology services [1] - The company is a subsidiary of "Shanxi Technology Wind Power" and is fully owned by it [1]

债券代码：149850.SZ 债券简称：22 中材 G1 天风证券股份有限公司 关于中材科技股份有限公司董事变更的 一、原相关人员任职情况及变动原因 发行人董事会收到发行人董事张文进先生的书面辞职报告。 张文进先生因工作变动申请辞去发行人董事职务。根据相关法律法规及发行 人有关规定，张文进先生自辞职报告送达董事会起不再担任发行人董事。张文进 先生辞任后不再担任发行人任何职务。 二、人员变动对发行人的影响及其应对措施 本次董事变动是正常人事调整，本次董事变动不会对公司治理、日常管理、 生产经营及偿债能力产生重大不利影响。 天风证券股份有限公司作为本次债券的受托管理人，根据《公司债券发行与 交易管理办法》、《募集说明书》、《受托管理协议》等规定或约定出具本临时 受托管理事务报告，并就上述重大事项提醒投资者关注相关风险。天风证券股份 有限公司将积极履行受托管理人义务，切实维护本次债券持有人利益。 （本页以下无正文） 临时受托管理事务报告 天风证券股份有限公司（以下简称"天风证券"）作为中材科技股份有限公 司（以下简称"发行人"）发行的"22中材G1"债券受托管理人，持续密切关注 对债券持有人权益有重大影响的事项。根 ...

债券简称：24 中材 K2 债券代码：148852.SZ 受托管理人：中信建投证券股份有限公司 2025 年 1 月 关于 中材科技股份有限公司 董事变更的 临时受托管理事务报告 近日，发行人董事会收到董事张文进先生的书面辞职报告。张文进先生因工 作变动申请辞去发行人董事职务。根据相关法律法规及发行人有关规定，张文进 先生即日起不再担任发行人董事。张文进先生辞任后不再担任发行人任何职务。 关于中材科技股份有限公司董事变更的临时受托管理事务报告 重要声明 本报告依据《公司债券发行与交易管理办法》《公司债券受托管理人执业行 为准则》、中材科技股份有限公司就存续公司债券与受托管理人签署的受托管理 协议（以下简称"《受托管理协议》"）及其它相关信息披露文件以及中材科技 股份有限公司（以下简称"发行人"或"公司"）出具的相关说明文件和提供的 相关资料等，由受托管理人中信建投证券股份有限公司（以下简称"中信建投证 券"或"受托管理人"）编制。中信建投证券编制本报告的内容及信息均来源中 材科技股份有限公司提供的资料或说明。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜作出独立判断，而不应将本报告 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 16.41 CNY, based on a 17x PE for 2025 [7]. Core Views - The company is expected to see a strong performance in its main businesses of wind turbine blades, fiberglass, and lithium membranes, with projected revenues of approximately 118 billion CNY, 81 billion CNY, and 25 billion CNY respectively in 2025 [1]. - The net profit forecast for 2025 is approximately 6.8 billion CNY for wind blades, 8.7 billion CNY for fiberglass, and 4.3 billion CNY for lithium membranes, with corresponding net profits attributable to the parent company of 4.0 billion CNY, 8.7 billion CNY, and 2.2 billion CNY [1]. - The report anticipates a recovery in demand for wind blades, with a projected sales volume of around 30 GW and a revenue increase of 50-60% year-on-year [2][32]. Summary by Sections Wind Blades - The demand for wind blades is expected to be strong, with a significant increase in bidding volume, which rose by 93% year-on-year to 119 GW in the first three quarters of the year [2][23]. - The report predicts a small price recovery in the wind turbine component and blade industry, with a projected increase of about 5% in prices [2][27]. - The company’s wind blade segment is expected to generate approximately 120 billion CNY in revenue, with a net profit of around 4.0 billion CNY in 2025 [2][32]. Fiberglass - The fiberglass segment is projected to see a slight recovery in both volume and price, with an estimated revenue of 81 billion CNY and a net profit of 8.7 billion CNY in 2025 [3][34]. - The company has a competitive edge in producing low dielectric yarn, which is expected to yield high added value [3][39]. Lithium Membranes - The demand for lithium membranes is on an upward trend, with a projected sales volume of 20-25 billion square meters and an estimated revenue of 25 billion CNY in 2025 [4][41]. - The report indicates that the industry will maintain a weak balance between supply and demand, with a forecasted growth rate of around 20% for 2025 [4][44].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected investment return exceeding 15% over the next 6-12 months [5]. Core Views - The company has a strong positioning in the LowDk electronic fabric sector, which is gaining attention due to its applications in high-frequency and high-speed electronic products. This strategic focus is expected to enhance the company's competitive advantage in high-end product markets [21][12]. - Despite the promising outlook in the LowDk electronic fabric area, the company has experienced significant declines in profits during the first three quarters of 2024, with a forecasted reduction in net profit for 2024-2026 [14][23]. Financial Performance Summary - For the first three quarters of 2024, the company reported total revenue of 16.8 billion yuan, a decrease of 8% year-on-year, and a net profit attributable to shareholders of 610 million yuan, down 64% year-on-year. The gross margin and net margin were 17.8% and 4.5%, respectively, both showing declines compared to the previous year [2]. - The company's revenue and profit forecasts for 2024-2026 have been significantly lowered, with net profit estimates adjusted to 955 million yuan for 2024 (down 61%), 1.25 billion yuan for 2025 (down 57%), and 1.5 billion yuan for 2026 (down 55%) [14][25]. Industry Context - The LowDk electronic fabric is crucial for high-frequency and high-speed electronic products, widely used in 5G communication, AI, IC packaging, and aerospace. The company is actively developing the second generation of low dielectric glass fiber to meet the growing market demand [12][21]. - The glass fiber prices have shown signs of recovery, but the wind power and separator business segments are facing challenges due to increased competition and pricing pressures, impacting overall profitability [2][23].

北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONGKONG·广州 GUANGZHOU·西安 XI`AN 致：中材科技股份有限公司 北京市嘉源律师事务所 关于中材科技股份有限公司 北京市嘉源律师事务所 关于中材科技股份有限公司 2024 年第五次临时股东大会的 法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 嘉源(2024)- 04-950 北京市嘉源律师事务所（以下简称"本所"）接受中材科技股份有限公司（以 下简称"公司"）的委托，根据《中华人民共和国公司法》（以下简称"《公司法》"） 《上市公司股东大会规则》（以下简称"《股东大会规则》"）等现行有效的法律、 行政法规、部门规章、规范性文件（以下简称"法律法规"）以及《中材科技股 份有限公司章程》（以下简称"《公司章程》"）的有关规定，指派本所律师对公司 2024 年第五次临时股东大会（以下简称"本次股东大会"）进行见证，并依法出 具本法律意见书。 为出具本法律意见书，本所指派律师现场见证了本次股东大会，查阅了公司 提供的与本次股东大会有关的文件和资料，并进行了必要的审查和验证。在前述 审查和验证的过 ...