Company Overview - Zhejiang Yongtai Technology Co., Ltd. was established in 1999 and listed in 2009, headquartered in Taizhou, Zhejiang Province. It is a global leader in fluorine fine chemicals manufacturing, covering both inorganic and organic fluorochemical industries [2]. - The company has multiple production bases in Zhejiang, Inner Mongolia, Fujian, and Guangdong, with sufficient existing, under-construction, and planned capacity to support future core business growth [2]. Financial Performance - In 2024, the company achieved operating revenue of CNY 458,939.78 million, a year-on-year increase of 11.18%. Although the net profit after deducting non-recurring items remains in a loss position, the loss narrowed by 36.26% year-on-year, indicating improved operational quality [3]. - The lithium battery materials segment showed significant performance improvement, with a gross margin increase of 23.07 percentage points year-on-year. The plant protection segment's revenue grew by 91.79%, enhancing market competitiveness [3]. - In Q1 2024, the company reported operating revenue of CNY 105,995.92 million and a net profit attributable to shareholders of CNY 1,057.75 million [3]. Business Development and Future Prospects - The fluorinated liquid project is progressing well, with the company actively developing products, verifying processes, and promoting the market to ensure rapid response to customer needs once market conditions are favorable [4]. - The demand for fluorinated liquids is expected to grow rapidly due to advancements in artificial intelligence, high-performance computing, and semiconductor processes. The company's electronic fluorinated liquids offer advantages such as environmental friendliness, energy efficiency, and high thermal stability [5]. - The collaboration with Fudan University on the development of long-life lithium battery technology aims to enhance battery lifespan and reduce energy consumption, aligning with national carbon neutrality goals [7]. Segment-Specific Insights Lithium Battery Materials - The company has established a vertically integrated supply chain in lithium battery materials, from lithium salt raw materials to electrolytes. The new technology project aims to significantly enhance the cycle life of lithium-ion batteries [8]. - Future price trends for lithium battery materials are uncertain due to various factors, including market supply and demand, raw material costs, and industry policies [9]. Plant Protection - The significant revenue growth in the plant protection segment in 2024 is attributed to the successful production launch of new products and increased market share due to improved market conditions [10]. Pharmaceutical Sector - The decline in revenue and gross margin in the pharmaceutical segment is primarily due to the expiration of original drug patents, leading to increased market supply and price drops [11]. - The company plans to enhance profitability in the pharmaceutical sector by focusing on high-value-added formulation products and expanding its sales network across 26 provinces [11]. Risk Management and Strategic Focus - The company has a diversified business layout and strong risk resistance, with minimal impact from tariff policies on overall revenue [12]. - Future profit growth will be driven by the expansion of lithium battery materials, stable growth in pharmaceuticals, market expansion in plant protection, and the potential of new businesses like fluorinated liquids [14].

Financial Performance - In 2024, the company achieved a revenue of 4.589 billion yuan, representing a year-on-year growth of 11.18% [4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -444 million yuan, with a year-on-year reduction in losses of 36.26% [4] Revenue Growth Drivers - The revenue growth was primarily driven by an 18.07% increase in the lithium battery materials segment and a 91.79% increase in the agricultural protection segment [2] - Future growth strategies include optimizing product structure, accelerating new business market promotion, enhancing supply chain collaboration, and increasing R&D investment [2] Project Development and Profitability - The company is advancing the construction of three new parks in Inner Mongolia, Fujian, and Zhejiang, with some projects already in production [3] - The asset-liability ratio is being optimized to ensure financial health while meeting the funding needs for expanding production capacity [3] Industry Position and Competitive Advantage - The company has established a vertically integrated supply chain in the lithium battery materials sector, covering the entire process from lithium salt raw materials to electrolytes, which reduces costs and enhances product quality [3] - Future plans include continuous technological improvements and deepening cooperation with upstream and downstream enterprises to strengthen competitive advantages [3] Market Trends and Opportunities - The lithium battery materials market is expected to grow due to increasing demand for clean energy and supportive policies, particularly in electric vehicles and energy storage systems [9] - The pharmaceutical market is also projected to grow due to an aging population and increased health awareness, especially in innovative and high-end generic drugs [9] Strategic Initiatives - The company issued Global Depositary Receipts (GDR) in 2023, enhancing its international market presence and financing channels [7] - Plans to deepen cooperation with global enterprises to increase market share and competitiveness in international markets [7] Risk Management - The company acknowledges the uncertainties in the early stages of technology development in collaboration with Fudan University, emphasizing the need for investors to be aware of potential risks [5] - The management is focused on improving operational quality and transparency to enhance investor confidence and mitigate stock price volatility [9]

Core Insights - Yongtai Technology (002326.SZ) reported a revenue of 4.589 billion yuan for the year 2024, marking an 11.18% year-on-year increase, while the net profit loss narrowed by 36.26% to -443.87 million yuan, indicating progress in operational efficiency and profitability [1] - The lithium battery materials segment saw an 18.07% revenue growth, with gross margin improving from -28.31% to -5.24%, driven by technological improvements and cost reduction measures [1] - The plant protection segment experienced a significant revenue increase of 91.79%, with gross margin rising by 2.65 percentage points, attributed to successful project launches and recovering downstream demand [1] Revenue and Profitability - The pharmaceutical segment faced a 3.57% revenue decline due to increased market competition and price drops following patent expirations, with gross margin decreasing by 0.77 percentage points [2] - Despite challenges, the company managed to limit the revenue decline through stable partnerships and market expansion strategies [2] Technological Advancements - Yongtai Technology has established a dual-channel development strategy in the pharmaceutical sector, focusing on high-value and stable raw materials and formulations [3] - The company’s subsidiaries achieved significant regulatory milestones, including FDA inspections and drug registration certificates, enhancing its market expansion capabilities [3] Production and Operational Efficiency - The company is focusing on core project development and optimizing its industrial chain layout to achieve economies of scale, with a lithium project entering trial production [4] - Yongtai Technology's lithium battery electrolyte shipment volume has entered the top ten in China, reflecting improved market competitiveness [4] Market Position and Collaborations - The company has formed long-term partnerships with major firms like Merck and BASF, strengthening its market position [2] - Yongtai Technology is leveraging overseas pesticide registration resources to expand its market share in the plant protection sector [4] Research and Development - The company has established R&D centers in Zhejiang and Shanghai, with an AI-driven drug development platform enhancing its research capabilities [5] - Yongtai Technology has successfully transformed multiple research outcomes into production, optimizing processes and reducing costs [6] Intellectual Property and Innovation - The company has applied for a total of 221 invention patents, with 171 granted, emphasizing its commitment to intellectual property protection [6] - The year 2024 is characterized by significant advancements across various sectors, reinforcing the company's competitive edge through innovation and market expansion [6]

Core Viewpoint - The company emphasizes the accuracy and completeness of its quarterly report, ensuring no false records or misleading statements exist [2][3]. Financial Data Summary - The first quarter report has not been audited [3][8]. - There are no adjustments or restatements required for previous accounting data [3]. - The company does not have any non-recurring profit and loss items applicable [3]. Shareholder Information - The company has not reported any changes in the top 10 shareholders or the status of shares lent for margin trading [5][6]. Other Important Matters - The company has signed a technology development contract with Fudan University to enhance its core competitiveness in the lithium battery materials sector [5].

浙江永太科技股份有限公司 内部控制审计报告 2024 年度 内部控制审计报告 信会师报字[2025]第 ZF10518 号 浙江永太科技股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相 关要求，我们审计了浙江永太科技股份有限公司（以下简称永太科技） 2024 年 12 月 31 日的财务报告内部控制的有效性。 一、 企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企 业内部控制评价指引》的规定，建立健全和有效实施内部控制，并评 价其有效性是永太科技董事会的责任。 二、 注册会计师的责任 三、 内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。 此外，由于情况的变化可能导致内部控制变得不恰当，或对控制政策 和程序遵循的程度降低，根据内部控制审计结果推测未来内部控制的 有效性具有一定风险。 四、 财务报告内部控制审计意见 我们认为，永太科技于 2024 年 12 月 31 日按照《企业内部控制 基本规范》和相关规定在所有重大方面保持了有效的财务报告内部控 制。 我们的责任是在实施审计工作的基础上，对财务报告内部控制的 有效 ...

浙江永太科技股份有限公司 非经营性资金占用及其他关联资金往来情况 的专项报告 关于浙江永太科技股份有限公司 非经营性资金占用及其他关联 资金往来情况 的专项报告 中国注册会计师：李 丹 永太科技管理层根据中国证券监督管理委员会《上市公司监管指 引第 8 号——上市公司资金往来、对外担保的监管要求》（证监会公 告〔2022〕26 号）和《深圳证券交易所上市公司自律监管指南第 1 号——业务办理》的相关规定编制了后附的 2024 年度非经营性资金 占用及其他关联资金往来情况汇总表（以下简称"汇总表"）。 编制汇总表并确保其真实、准确、完整是永太科技管理层的责任。 我们将汇总表所载信息与我们审计永太科技 2024 年度财务报表时所 审核的会计资料及已审计财务报表中披露的相关内容进行了核对，没 有发现在重大方面存在不一致的情况。 为了更好地理解永太科技 2024 年度非经营性资金占用及其他关 联资金往来情况，汇总表应当与已审计财务报表一并阅读。 专项报告第 2 页 本报告仅供永太科技为披露 2024 年年度报告的目的使用，不得 用作任何其他目的。 （特殊普通合伙） 立信会计师事务所 中国注册会计师：郭宪明 信会师报字 ...

浙江永太科技股份有限公司 一、管理层的责任 永太科技公司管理层的责任是按照《深圳证券交易所股票上市规 则》和《深圳证券交易所上市公司自律监管指南第1号——业务办理》 的相关规定编制营业收入扣除情况表，确保营业收入扣除情况表真实、 准确、完整，不存在虚假记载、误导性陈述或重大遗漏。 信会师报字[2025]第ZF10521号 浙江永太科技股份有限公司全体股东： 2024 年度营业收入扣除情况表 的鉴证报告 我们审计了浙江永太科技股份有限公司(以下简称"永太科技公 司")2024 年度的财务报表，包括 2024 年 12 月 31 日的合并及母公司 资产负债表、2024 年度合并及母公司利润表、合并及母公司现金流 量表、合并及母公司所有者权益变动表和相关财务报表附注，并于 2025 年 4 月 25 日出具了报告号为信会师报字[2025]第 ZF10517 号的 无保留意见审计报告。 关于浙江永太科技股份有限公司2024年度 营业收入扣除情况表的鉴证报告 在对上述财务报表执行审计的基础上，我们接受委托，对后附的 永太科技公司2024年度营业收入扣除情况表（以下简称"营业收入扣 除情况表"）执行了合理保证的鉴证业务。 ...

2024 年度募集资金存放与使用情况 专项报告的鉴证报告 关于浙江永太科技股份有限公司 2024年度募集资金存放与使用情况 专项报告的鉴证报告 信会师报字[2025]第ZF10519号 浙江永太科技股份有限公司 浙江永太科技股份有限公司全体股东： 我们接受委托，对后附的浙江永太科技股份有限公司（以下简称 "永太科技"） 2024年度募集资金存放与使用情况专项报告（以下简 称"募集资金专项报告"）执行了合理保证的鉴证业务。 一、董事会的责任 永太科技董事会的责任是按照中国证券监督管理委员会《上市公 司监管指引第2号——上市公司募集资金管理和使用的监管要求 （2022年修订）》（证监会公告〔2022〕15号）、《深圳证券交易所上市 公司自律监管指引第1号——主板上市公司规范运作》以及《深圳证 券交易所上市公司自律监管指南第2号——公告格式》的相关规定编 制募集资金专项报告。这种责任包括设计、执行和维护与募集资金专 项报告编制相关的内部控制，确保募集资金专项报告真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏。 二、注册会计师的责任 我们的责任是在执行鉴证工作的基础上对募集资金专项报告发 表鉴证结论。 鉴证 ...

浙江永太科技股份有限公司 董事会战略委员会实施细则 第一章 总 则 第一条 为适应浙江永太科技股份有限公司（以下简称"公司"）战略发展 需要，增强公司核心竞争力，确定公司发展规划，健全投资决策程序，加强决策 科学性，提高重大投资的效益和决策的质量，完善公司治理结构，根据《中华人 民共和国公司法》《上市公司治理准则》《公司章程》及其他有关规定，公司特 设立董事会战略委员会，并制定本细则。 第二条 战略委员会是董事会设立的专门工作机构，主要负责对公司长期发 展战略、重大投资决策及 ESG 相关事项进行研究并提出建议。 第二章 人员组成 第三条 战略委员会由五名董事组成，独立董事占三名。 第四条 战略委员会委员由董事长、二分之一以上独立董事或者全体董事的 三分之一提名，并由董事会选举产生。 第五条 战略委员会设主任委员（召集人）一名,由公司董事长担任。 第六条 战略委员会任期与董事会任期一致，委员任期届满，连选可连任。 期间如有委员不再担任公司董事职务，自动失去委员资格，并由董事会根据上述 第三条至第五条的规定补足委员人数。 第七条 战略委员会的具体工作由公司证券投资部承办，证券投资部负责协 调委员会会议的有关事务 ...