Core Viewpoint - The company, Zhaoxin Co., Ltd. (002256), clarified that it does not have any products or orders related to liquid cooling energy storage cabinets, despite investor inquiries about potential future orders and business developments in digital currency [1] Group 1: Company Operations - The company focuses on "fine chemicals + new energy" as its core business model [1] - The company is actively exploring new growth directions that align with industry trends and its resource endowments [1] Group 2: Investor Communication - The company emphasized its commitment to strict adherence to information disclosure rules and will timely and accurately disclose any significant matters as required [1] - The company expressed gratitude for investor support and understanding [1]

Group 1 - The core viewpoint of the news is that Zhaoxin Co., Ltd. has experienced a decline in stock price recently, despite a significant increase in stock price year-to-date [1] - As of November 20, Zhaoxin's stock price was 3.57 CNY per share, with a market capitalization of 7.118 billion CNY [1] - The company has seen a net outflow of main funds amounting to 27.42 million CNY, with large orders showing a higher selling volume compared to buying [1] Group 2 - Zhaoxin Co., Ltd. was established on December 20, 1995, and listed on June 25, 2008, focusing on the development, production, and sales of aerosol products [2] - The company's revenue composition includes fine chemical products (45.85%), photovoltaic power generation (26.14%), photovoltaic construction (23.74%), and new chemical materials (4.27%) [2] - As of November 10, the number of shareholders decreased by 4.40% to 116,700, while the average circulating shares per person increased by 4.60% [2] Group 3 - Zhaoxin Co., Ltd. has distributed a total of 310 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3] - As of September 30, 2025, a notable change in institutional holdings occurred, with the exit of a significant shareholder from the top ten circulating shareholders [3]

Core Viewpoint - The company is focusing on the development of the new energy industry and is actively advancing the development of salt lake lithium resources [1] Group 1: Business Strategy - The company has secured strategic cooperation with Qinghai Jintai to ensure control over its operational development [1] - The company plans to steadily advance debt restructuring and business optimization for Qinghai Jintai [1] Group 2: Operational Model - The company aims to implement an integrated operation model of "photovoltaics + energy storage + charging" to enhance resource utilization efficiency [1] - This operational model is intended to strengthen the company's core competitiveness within the new energy industry chain [1]

Core Viewpoint - Zhaoxin Co., Ltd. has experienced a stock price fluctuation with a year-to-date increase of 43.65%, but a recent decline of 8.82% over the last five trading days, indicating potential volatility in the market [1] Financial Performance - For the period from January to September 2025, Zhaoxin achieved a revenue of 322 million yuan, representing a year-on-year growth of 34.45%, and a net profit attributable to shareholders of 4.91 million yuan, which is a significant increase of 105.50% [2] - The company has cumulatively distributed 310 million yuan in dividends since its A-share listing, with no dividends distributed in the last three years [3] Stock Market Activity - As of November 19, Zhaoxin's stock price was 3.62 yuan per share, with a total market capitalization of 7.218 billion yuan. The trading volume was 284 million yuan, with a turnover rate of 3.98% [1] - The stock has appeared on the "Dragon and Tiger List" four times this year, with the most recent net buy of 41.27 million yuan on September 5 [1] Shareholder Information - As of November 10, the number of shareholders for Zhaoxin was 116,700, a decrease of 4.40% from the previous period, while the average circulating shares per person increased by 4.60% to 16,716 shares [2]

Core Viewpoint - Zhaoxin Co., Ltd. focuses on the synergistic development of fine chemicals and new energy as its dual main businesses, which are the core sources of profit [1] Group 1: Business Segments - The fine chemicals segment targets high-value-added environmentally friendly products, including eco-friendly functional coatings, green home products, automotive maintenance supplies, and related aerosols, addressing diverse market demands [1] - The new energy segment centers on photovoltaic power station operations, achieving stable electricity sales while also engaging in photovoltaic EPC and related services, forming a "operations + engineering" collaborative model [1] Group 2: Financial Performance - For the first half of 2025, the company reported a total revenue of 208 million yuan, with both fine chemicals and new energy businesses contributing equally at 104 million yuan each [1] Group 3: Future Strategy - The company plans to continuously optimize its business structure, expand upstream and downstream industrial clusters, develop multi-scenario adaptable products and services, and strengthen the synergistic effects of its dual main businesses to steadily enhance profitability and create long-term value for investors [1]

Summary of Zhaoxin Co., Ltd. Conference Call Company Overview - **Company**: Zhaoxin Co., Ltd. - **Industry**: Renewable Energy, Lithium Mining, Smart Operations Key Financial Performance - **Q3 2025 Revenue**: 322 million CNY, a year-on-year increase of 34% [2][3] - **Q3 2025 Gross Profit**: 95.46 million CNY, a year-on-year increase of 33%, surpassing the previous year's total [2][3] - **Annual Revenue Target for 2025**: 450 million CNY, representing a 30% increase from 2024 [3][4] - **Expected Export Growth for 2025**: Approximately 40% [2][3] Strategic Developments - **International Market Expansion**: Actively pursuing international markets and utilizing platforms like the Canton Fair for product exports [3][4] - **New Business Ventures**: Focus on new areas such as renewable energy EPC, smart operations, electricity market transactions, energy storage, and charging [2][3] - **Acquisition of Qinghai Jingtai Project**: Gained strategic importance through debt-to-equity swaps, aiming for a closed-loop industry model integrating clean energy production, storage, and resource output [5][6] Lithium Resource Development - **Qinghai Jingtai Lithium Resource**: - Area: Approximately 450 square kilometers - Lithium Chloride Resource: 1.6349 million tons - Recoverable Lithium Chloride: 1.3079 million tons, equivalent to 1.1384 million tons of lithium carbonate [7] - Annual Production Capacity: 20,000 tons with a service life of 21.17 years [7] - **Cost Efficiency**: Each 10 mg/L increase in lithium grade can reduce production costs by approximately 5% [7] New Subsidiary and Business Focus - **Zhaowei Energy**: Newly registered in Hainan, focusing on data development, smart operations, and data storage [2][8] - **Smart Operations**: Emphasis on smart operations related to photovoltaic power plants, exploring supply assurance solutions with leading overseas storage suppliers [8] Future Directions - **Solid-State Battery Exploration**: Plans to explore solid-state battery technology and potential collaborations with quality partners [4][9] - **AI and Robotics Integration**: Investment in AI and robotics to enhance operational efficiency in renewable energy plants, aiming for automation and data-driven decision-making [10][11][12] - **Phased Development Strategy**: A four-phase approach to integrate AI technology into operations, focusing on reducing labor costs and improving efficiency in challenging environments [12][13] Governance and Resource Support - **Board Restructuring**: Introduction of state-owned representatives to enhance governance and resource support, improving creditworthiness and access to funding [17][18] - **Independent Directors**: Over half of the board consists of independent directors, enhancing decision-making and compliance risk control [17] Conclusion Zhaoxin Co., Ltd. is positioned for significant growth in the renewable energy sector, with a strong focus on lithium resource development, international market expansion, and innovative technology integration. The company's strategic initiatives and governance improvements are expected to drive long-term value for investors.

Market Overview - The electricity sector experienced a decline of 0.65% on the previous trading day, with Zhaoxin Co., Ltd. leading the losses [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance - Top gainers in the electricity sector included: - Tuojixineng (002218) with a closing price of 5.06, up 10.00% and a trading volume of 3.2075 million shares, totaling 1.606 billion yuan [1] - Chuaneng Power (000155) closed at 13.33, up 5.63% with a trading volume of 859,500 shares, totaling 1.138 billion yuan [1] - Major losers included: - Zhaoxin Co., Ltd. (002256) with a closing price of 3.85, down 6.10% and a trading volume of 2.4187 million shares, totaling 926 million yuan [2] - Jinfang Energy (001210) closed at 17.58, down 5.74% with a trading volume of 40,800 shares, totaling 72.6635 million yuan [2] Capital Flow - The electricity sector saw a net outflow of 599 million yuan from institutional investors, while retail investors contributed a net inflow of 698 million yuan [2][3] - Notable capital flows included: - Tuojixineng (002218) had a net inflow of 206 million yuan from institutional investors, while retail investors saw a net outflow of 111 million yuan [3] - Chuaneng Power (000155) experienced a net inflow of 119 million yuan from institutional investors, with retail investors facing a net outflow of 90.942 million yuan [3]

深圳市兆新能源股份有限公司 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002256 证券简称：兆新股份 公告编号：2025-063 第七届董事会第十次会议决议公告 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、误导性陈述或重大遗 漏。 深圳市兆新能源股份有限公司（以下简称"公司"）第七届董事会第十次会议于2025年11月13日下午 15:00以通讯表决方式召开，会议通知于2025年11月11日以电子邮件、电话方式通知全体董事、监事和 高级管理人员。召集人对本次会议的通知向与会董事作出了说明，与会董事同意豁免本次董事会会议通 知时限要求。 鉴于富康矿业未通过其他方式清偿债务，亦未与公司达成可行性的债务清偿方案，基于追回债务以最大 程度降低损失、维护公司及股东利益等综合原因，公司拟通过司法程序接受以富康矿业持有的青海锦泰 15%股权抵偿对应富康矿业需支付公司的债务本金人民币3.545亿元、违约金、交易费用及一切合理费 用。若股东大会审议通过并完成股权权属变更，青海锦泰将成为公司的参股公司，不会导致公司合并报 表范围发生变化。 具体详见同日公司在《上海证券报》、《中国证券 ...

Core Viewpoint - Shenzhen Zhaoxin New Energy Co., Ltd. plans to integrate equity with Qinghai Jintai Potash Co., Ltd. through a debt-to-equity swap, aiming to establish a vertical layout in the "new energy aftermarket + upstream resources" to gain a first-mover advantage in the lithium resource sector [1] Group 1: Resource Integration and Competitive Advantage - The core value of the equity integration lies in securing Qinghai Jintai's scarce high-quality salt lake lithium resources, which are crucial for cost advantages and cyclical resilience in the new energy industry [2] - Qinghai Jintai possesses a high-quality mining area of 450 square kilometers, with lithium chloride resource reserves of 1.6349 million tons and a recoverable reserve equivalent to 1.1384 million tons of lithium carbonate, placing it among the upper tier of domestic salt lake projects [2] - The average lithium chloride grade in Qinghai Jintai's brine is 168.87 mg/L, which is 40.7% higher than some domestic salt lakes, allowing for a significant reduction in production costs due to its inherent quality advantage [2] Group 2: Growth Potential and Strategic Upgrade - The resource strategy of Zhaoxin is resonating with the industry's cyclical upturn, with significant performance growth potential as global demand for lithium carbonate is expected to remain between 80,000 to 150,000 yuan per ton over the next two years [3] - With a planned annual production capacity of 10,000 tons of battery-grade lithium carbonate, Qinghai Jintai's project could generate annual revenue of 800 million to 1 billion yuan upon reaching full capacity, contributing significantly to the company's performance [3] - The equity injection is expected to facilitate Zhaoxin's strategic upgrade from traditional assets to high-value new energy resource assets, allowing the company to capitalize on the lithium carbonate industry's growth and build a sustainable competitive advantage [3]

Core Viewpoint - The company Zhaoxin Co., Ltd. (002256) is restructuring its equity in Qinghai Jintai Potash Co., Ltd. through a debt-to-equity swap, aiming to create a comprehensive development path that integrates "new energy downstream market + new energy upstream resource layout" under the national new energy strategy and "dual carbon" goals [1] Group 1: Equity Restructuring - Zhaoxin Co., Ltd. will acquire a 15% stake in Qinghai Jintai to offset a debt of 354.5 million yuan, which includes principal, penalties, and transaction costs [1] - The company previously sold a stake in the lithium carbonate sector during a peak in 2021, recovering approximately 200 million yuan, and is now increasing its stake to enhance its asset base [1] - The debt-to-equity swap is based on judicial compliance, aiming to systematically resolve Qinghai Jintai's existing debt and facilitate future operations [1] Group 2: Resource Potential - Qinghai Jintai holds 450 square kilometers of high-quality salt lake lithium resources, with lithium chloride reserves estimated at 1.6349 million tons, translating to approximately 1.1384 million tons of lithium carbonate equivalent [2] - The average lithium chloride concentration in the brine is 168.87 mg/L, which is 40.7% higher than the average of other domestic salt lakes, indicating significant economic viability for development [2] - The integrated model of "photovoltaics + energy storage + charging + lithium extraction from salt lakes" is expected to accelerate the release of this resource's potential [2] Group 3: Market Outlook - The lithium carbonate market is currently in an upward cycle, with futures prices stabilizing at 86,000 yuan per ton, reflecting a 10% increase since the beginning of the year [3] - With the growing demand from global power batteries and energy storage, prices are projected to remain between 80,000 yuan and 150,000 yuan per ton over the next two years [3] - Qinghai Jintai's planned annual production capacity of 10,000 tons of battery-grade lithium carbonate could generate annual revenues of 800 million to 1 billion yuan, enhancing the company's revenue and profit levels [3]