证券代码：002407 证券简称：多氟多 公告编号：2025-088 多氟多新材料股份有限公司 第七届董事会第三十四次会议决议公告 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。 一、董事会会议召开情况 为进一步完善公司治理结构，推动公司规范运作，根据最新修订的《中华人民共 和国公司法》《上市公司章程指引》《深圳证券交易所股票上市规则》等相关法律、 法规、规范性文件的规定，结合公司实际情况，同意对《公司章程》的部分内容进行 修订。 表决结果：9 票赞成，0 票反对，0 票弃权。 本次修订的《公司章程》待股东大会审议通过后，公司将不再设置监事会，监事 会的职权由董事会审计委员会承接，《监事会议事规则》等监事会相关制度相应废止。 董事会提请股东大会授权公司管理层或其授权代表向工商登记机关办理《公司章程》 的备案登记等相关手续。 多氟多新材料股份有限公司(以下简称"公司")第七届董事会第三十四次会议通 知于 2025 年 11 月 30 日通过微信、电子邮件等方式向各董事发出，会议于 2025 年 12 月 10 日上午 9：00 在公司科技大厦五楼会议室以现场方式 ...

格隆汇12月11日｜多氟多公告，公司于2025年12月10日召开董事会，审议通过向控股子公司广西宁福新 能源科技有限公司增资8.33亿元的议案。增资后，广西宁福注册资本将由26.25亿元增至34.59亿元，公 司持股比例将由70.2916%提升至77.4494%。此次增资构成关联交易，尚需提交股东大会审议。 ...

Investment Direction 1: Dividend Strategy - Recommended companies include China National Offshore Oil Corporation (CNOOC), China Petroleum & Chemical Corporation (Sinopec), and China National Petroleum Corporation (PetroChina) with an expected Brent oil price range of $60-70 per barrel in 2026 [2][3] - CNOOC is committed to maintaining a dividend payout ratio of no less than 45% from 2025 to 2027, while PetroChina benefits from domestic natural gas market reforms [2][3] Investment Direction 2: Capital Allocation to Undervalued Chemical Leaders - Recommended companies include Wanhua Chemical, Baofeng Energy, Satellite Chemical, and Hualu Hengsheng, which are expected to benefit from industry barriers related to cost, technology, and market [2][3] - The report suggests prioritizing capital allocation to chemical ETFs and leading companies as their performance is expected to stabilize [2][3] Investment Direction 3: Price Increases Driven by Downstream Demand - Traditional demand sectors such as food additives, pesticides, and fertilizers are highlighted, with companies like New Hope Liuhe and Jiangshan Chemical expected to benefit from stable growth in demand [2][3] - Emerging demand in phosphorous and fluorine chemicals is driven by the needs of new energy battery and AI cooling applications, with companies like Chuanheng Chemical and Juhua Co. being key players [2][3] Investment Direction 4: Domestic Anti-Competition Driving Price Increases - The report emphasizes the focus on large refining and chemical companies such as Hengli Petrochemical and Rongsheng Petrochemical, which are expected to benefit from anti-competitive measures in the domestic market [2][3] - The organic silicon sector is entering the end of its expansion cycle, with major companies like Sinan Silicon Material adjusting industry operating rates [2][3] - The soda ash industry is facing capacity controls and the need to phase out outdated production, with companies like Boyuan Chemical under observation [2][3] Oil Price Analysis - The report anticipates a Brent oil price range of $60-70 per barrel in 2026, with a slight oversupply expected [11][12] - OPEC+ has postponed production increases for Q1 2026, indicating a cautious approach to market conditions [11][12] - The report highlights geopolitical factors, including the ongoing Russia-Ukraine conflict and U.S.-Venezuela relations, which may impact oil supply dynamics [12][13] Three Major Oil Companies Insights - CNOOC is focused on increasing reserves and production while reducing costs, while PetroChina is benefiting from natural gas market reforms [34][36] - Sinopec is concentrating on domestic refining and chemical anti-competition developments [34][36] - The overall profitability of the three major oil companies is expected to be supported by the anticipated oil price stabilization [34][36]

Core Insights - The article highlights the rapid development of the new energy battery industry in Nanning, with a focus on building a complete industrial chain and attracting leading enterprises to the region [1][2][4] Group 1: Industry Development - Nanning has made significant strides in the new energy battery sector, with battery production capacity exceeding 200GWh and actual production capacity surpassing 100GWh since 2022, positioning it among the top in the country [1][2] - The city has established a comprehensive industrial ecosystem covering key areas such as cell manufacturing, electrode materials, battery copper and aluminum foils, and battery recycling, driven by leading companies like BYD and DFL [3][4] Group 2: Investment and Economic Impact - BYD has committed to investing in Nanning, establishing six projects with a total energy storage and power battery capacity of 80GWh [2] - The total planned investment in battery and supporting industries in Nanning exceeds 800 billion yuan, with an expected annual output value of over 160 billion yuan upon full production [3] Group 3: Strategic Advantages - Nanning's geographical advantage near ASEAN markets facilitates investment and expansion opportunities for enterprises, enhancing the region's attractiveness for new energy battery production [4] - The city has implemented supportive policies and measures to create a favorable business environment, including a "land immediately under construction" policy and various investment funds [2][4]

Core Viewpoint - The lithium battery industry is experiencing significant price increases and supply chain adjustments due to rising raw material costs and strong demand, particularly in the energy storage and electric vehicle sectors [3][4][5]. Industry Trends - Dejia Energy announced a 15% price increase for its battery products starting December 16 due to rising production costs from upstream raw materials [3]. - Contemporary Amperex Technology Co., Ltd. (CATL) and other leading companies are securing long-term agreements to lock in upstream capacity and supply chains, emphasizing the importance of capacity acquisition for future growth [3][4]. - The lithium battery supply chain is currently characterized by a "full production and sales" state, with companies like Penghui Energy and Tianji Co. reporting strong demand and rising prices for their products [4]. Market Demand - Global power battery installation reached 811.7 GWh in the first three quarters of this year, a 34.7% increase from the previous year, while the energy storage market saw a 90.7% year-on-year growth [5]. - The rapid growth in renewable energy installations and the expansion of AI data centers are driving increased demand for energy storage solutions [5]. Long-term Contracts - The industry is witnessing a surge in long-term contracts, with significant agreements such as a 10-year strategic partnership between Haibosi and CATL for a minimum of 200 GWh of procurement [6]. - Other notable contracts include a collaboration between Hicharge Energy and CRRC Zhuzhou Electric Locomotive Research Institute for at least 120 GWh of energy storage products [6]. Price Dynamics - The price of battery-grade lithium carbonate has surged to 92,750 RMB per ton, a 23% increase from the previous month, while the price of lithium hexafluorophosphate has exceeded 180,000 RMB per ton [4]. - The tight supply and high demand have led to longer delivery times, with some companies reporting that delivery schedules extend into the first half of next year [4]. Technological Advancements - The industry is undergoing a "quality upgrade" driven by technological advancements, with companies like CATL launching fifth-generation lithium iron phosphate batteries that improve energy density and cycle life [9][10]. - High-density lithium iron phosphate products are becoming a focus, with expectations that their market share will increase significantly by 2026 [9]. Capacity Expansion - Companies are accelerating capacity expansion to meet growing demand, with Fulin Precision Engineering planning to invest 4 billion RMB to build a new production line for lithium iron phosphate [8]. - Dragon Power Technology is also raising funds to expand production capacity in response to customer needs [8]. Globalization Efforts - Leading companies are pursuing global expansion strategies, with firms like Hunan YN planning production capacity in Spain and Dragon Power Technology nearing full production at its Indonesian facility [10]. - The industry is shifting from scale competition to value competition, aiming for high-quality development as new products are launched and recycling systems are improved [10].

Project Overview - The project is named "Fluorine-containing Waste Comprehensive Utilization Technical Transformation Project" by Multi-Flor (Kunming) Technology Development Co., Ltd [5][10] - The project is located in the factory area of Multi-Flor (Kunming) Technology Development Co., Ltd in Yunnan Province, Anning City, Lupu Town, Xia Lupu Village [10] - The nature of the project is a reconstruction with an investment of 20.4 million yuan [10] Project Components - A new lithium extraction facility will be built next to the existing fluorine-containing wastewater treatment station, utilizing extraction technology to recover lithium resources from fluorine-containing wastewater [2][6] - A new production facility for ice crystal stone and white carbon black will be established in the existing aluminum fluoride production area, along with a new raw material and product warehouse [2][6] - A new ammonia recovery system and storage tanks will be constructed to recover ammonia from wastewater [2][6] - A new wastewater treatment station will be built to provide deep treatment for the wastewater generated by the project [2][6] - An additional 8t/h biomass boiler will be added to supplement the existing natural gas boiler for steam supply [2][6] Company Background - Multi-Flor (Kunming) Technology Development Co., Ltd is a wholly-owned subsidiary of Multi-Flor New Materials Co., Ltd, established in May 2011 [4][9] - The company is located in Anning City, Yunnan Province, with a factory area of 61,080.3 square meters, primarily engaged in the research, production, and sales of inorganic fluorine chemical new technologies and products [4][9]

Economic Performance - In October 2025, Henan's industrial added value increased by 7.9%, outperforming the national average by 3.0 percentage points[21] - The province's social retail sales reached 2673.23 billion yuan, growing by 4.1% year-on-year, which is 1.2 percentage points higher than the national average[22] - Fixed asset investment in Henan rose by 4.5%, exceeding the national decline of 1.7%[23] Market Trends - In November 2025, the Henan Index fell by 1.47%, a smaller decline compared to the Shanghai Composite Index and the CSI 300 Index[48] - Year-to-date, the Henan Index has increased by 36.82%, consistently outperforming major benchmarks[48] Investment Landscape - As of November 2025, Henan's total market capitalization for A-shares was 19006.61 billion yuan, ranking 11th nationally and 2nd in Central China[62] - The province had 138 listed companies, with 113 A-shares and 31 H-shares, maintaining its 12th and 9th positions nationally[60] IPO and Financing Activity - No new IPOs were approved in Henan as of November 2025, with only one company completing equity financing totaling 1.15 million yuan in the first 11 months[40] - The province's credit bond issuance in November was 276.17 billion yuan, a decrease of 15.69% from the previous month[35]

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问公司有硼同位素新材料的订单近200吨吗？ 多氟多（002407.SZ）12月8日在投资者互动平台表示，您好，公司已具备硼同位素国产化量产能力，目 前已建成100吨/年硼同位素系列新材料产线，能够满足不同丰度和纯度的产品需求，并已通过中广核子 公司苏州热工研究院有限公司的现场审核，正式接受客户订单并开始交付；未来公司将根据市场需求逐 步建设、释放新增产能，相关进展请以公司正式公告为准，感谢关注。 ...

Group 1 - The core viewpoint of the article is that Duofuduo (002407.SZ) is expanding the application of its cylindrical batteries into various sectors, including new energy vehicles, electric two-wheelers, three-wheelers, home energy storage systems, and portable energy storage [1] - The company anticipates that with product technology upgrades and process improvements, it will gradually expand into more application areas in the future [1]

Group 1 - The core viewpoint of the article is that Duofuduo (002407.SZ) is expanding the application of its cylindrical batteries into various sectors, including electric vehicles, electric two-wheelers, three-wheelers, home energy storage systems, and portable energy storage [1] - The company anticipates that with product technology upgrades and process improvements, it will gradually expand into more application areas in the future [1]