Group 1: Production Capacity - The company has established a total lithium iron phosphate production capacity of 225,000 tons, with an additional 75,000 tons currently under construction [2] - The production capacity is distributed across three bases located in Zaozhuang, Yuxi, and Anqing [2] - The effective capacity utilization rate for lithium iron phosphate products remains relatively high [2] Group 2: Pricing and Market Strategy - The company actively monitors industry trends and aims to strengthen its core competitiveness and differentiation advantages [3] - Pricing adjustments for cathode materials are influenced by customer feedback and fluctuations in raw material prices [3] - The company engages in proactive business communication with customers to achieve long-term win-win relationships [3] Group 3: Customer Collaboration - The company employs various measures to solidify long-term partnerships with core customers, including joint technology research and product innovation [3] - Service response efficiency is continuously improved to enhance customer satisfaction [3] - The company is also advancing collaborations with other leading enterprises in the downstream sector to optimize its customer structure [3] Group 4: Compliance and Risk Management - During the reception process, the company adhered strictly to information disclosure regulations, ensuring no significant undisclosed information was leaked [3] - Any forecasts regarding the industry or company development strategies should not be interpreted as commitments or guarantees from the company or its management [3]

Core Viewpoint - Fengyuan Co., Ltd. (002805) has disclosed its performance forecast for the fiscal year 2025, with specific details available in the company's related announcements published in media [1] Summary by Category - Company Performance - Fengyuan Co., Ltd. has provided a performance forecast for the year 2025, indicating proactive communication with investors regarding future expectations [1]

证券日报网讯2月2日，丰元股份（002805）在互动平台回答投资者提问时表示，除比亚迪（002594）、 楚能新能源外，公司还与雄韬、利维能等其他企业保持合作。公司会在加强与已有客户合作的同时，积 极推进与其他高价值客户的合作，持续优化客户结构。 ...

Group 1 - The core business of the company is focused on lithium-ion battery cathode materials and oxalic acid, and it does not involve lithium carbonate production [1]

Core Viewpoint - The oxalic acid industry is experiencing a recovery in demand due to improved operating rates in the pharmaceutical sector and a more favorable competitive landscape in the rare earth industry, following a significant decline in demand in 2020 due to regulatory impacts [1][8]. Group 1: Industry Overview - Oxalic acid is a widely used organic chemical raw material, significantly influenced by national macroeconomic policies [1][8]. - In 2024, China's oxalic acid production is projected to reach 785,700 tons, with a demand of 419,800 tons and a market size of 1.688 billion yuan; by 2025, production is expected to remain at 785,700 tons, while demand will increase to approximately 512,700 tons, resulting in a market size of about 1.912 billion yuan [1][9]. Group 2: Production and Supply - China accounts for over 85% of global oxalic acid production, with major producers including Hualu Hengsheng, Longxiang Industrial, Fengyuan Co., and Tongliao Jinmei [9]. - The primary production methods in China are the carbohydrate oxidation method and the sodium formate method, which together account for about 80% of total production [4]. Group 3: Industry Chain - The upstream of the oxalic acid industry includes raw materials such as starch, glucose, nitric acid, sulfuric acid, coal, caustic soda, vanadium pentoxide, nitrous esters, and carbon monoxide; the midstream involves oxalic acid production, while the downstream applications span pharmaceuticals, rare earths, fine chemicals, daily chemicals, metallurgy, and new energy [7][8]. Group 4: Trade Dynamics - China's oxalic acid export scale has been expanding, with Southeast Asian countries becoming the largest import region due to rapid chemical industry development; the European market's high environmental standards are driving exports of high-purity oxalic acid [10]. - In 2024, China's oxalic acid exports are expected to reach 278,100 tons, generating an export value of 958 million yuan, while imports will be minimal at 10 tons, valued at 300,000 yuan [10]. Group 5: Competitive Landscape - The oxalic acid industry in China has developed a concentrated market structure dominated by leading companies such as Hualu Hengsheng and Fengyuan Co., with production capacity increasingly focused on these top players due to stringent environmental regulations [11][12]. - Fengyuan Co. has a total oxalic acid production capacity of 120,000 tons, while Hualu Hengsheng's acetic acid and derivatives production capacity is designed for 1.5 million tons [12][13]. Group 6: Industry Trends - The oxalic acid industry is entering a phase characterized by stable overall growth, high-end structural development, and low-carbon processes, driven by environmental pressures, industrial upgrades, and emerging applications, with a focus on new energy and electronic-grade demand as core growth areas [14][15].

Core Viewpoint - The company expects a negative net profit for the fiscal year 2025, despite showing resilience in its operational fundamentals and significant growth in the production and sales of lithium battery cathode materials [1][2]. Group 1: Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025, with an anticipated net profit in negative values [1]. - The financial data related to this performance forecast has not been audited by the accounting firm, but preliminary discussions have indicated no major disagreements [1][3]. Group 2: Reasons for Performance Changes - The company remains in a loss position, primarily due to increased R&D expenses for product upgrades and insufficient overall equipment utilization rates caused by long new product validation cycles and new production lines ramping up [2]. - Despite these challenges, the company has implemented various optimization measures, including expanding its customer base, enhancing cooperation with core clients, and focusing on cost reduction and efficiency improvements [2]. - In the fourth quarter, the utilization rate of lithium battery cathode material production significantly improved, leading to positive trends in key indicators such as main business revenue and gross margin, resulting in a notable reduction in losses [2]. Group 3: Other Relevant Information - The performance forecast is based on preliminary calculations by the company's finance department and will be detailed in the 2025 annual report [3]. - The company commits to adhering to legal and regulatory requirements for timely information disclosure [3].

Core Viewpoint - The company, Fengyuan Co., Ltd. (002805.SZ), expects a net profit attributable to shareholders of between -460 million and -400 million yuan for 2025, compared to -362.23 million yuan in the same period last year, indicating continued losses despite improvements in operational resilience [1] Financial Performance - The company reported a significant increase in the production and sales scale of lithium battery cathode materials compared to the same period last year, although it still incurred losses due to multiple factors [1] - The expected net profit excluding non-recurring gains and losses is projected to be between -440 million and -380 million yuan [1] Operational Challenges - Key challenges leading to losses include increased R&D expenses due to product iteration and upgrades, insufficient overall equipment utilization rates caused by long new product validation cycles, and new production lines still ramping up [1] - Additional impacts on net profit stem from asset and credit impairment issues [1] Strategic Initiatives - In response to operational pressures, the company has implemented a series of optimization measures, including expanding a diversified customer base, deepening cooperation with core customers, promoting product differentiation, and continuously working on cost reduction and efficiency improvement [1] - In the fourth quarter, the company saw a significant increase in the capacity utilization rate of lithium battery cathode materials, with key indicators such as main business revenue and gross margin showing positive trends, leading to a notable reduction in losses [1]

证券代码：002805 证券简称：丰元股份 公告编号：2026-002 山东丰元化学股份有限公司 2025 年度业绩预告 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、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日 2、业绩预告情况：预计净利润为负值 单位：万元 | 项 | 目 | 本报告期 | | | 上年同期 | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股 东的净利润 | | -46,000 | ～ | -40,000 | -36,222.76 | | 扣除非经常性损益 | | -44,000 | ～ | -38,000 | -36,469.97 | | 后的净利润 | | | | | | | 基本每股收益（元/ 股） | | -1.64 | ～ | -1.43 | -1.29 | 山东丰元化学股份有限公司 二、与会计师事务所沟通情况 本期业绩预告相关的财务数据未经会计师事务所预审计。公司已就本次业绩预告有关 重大事项与会计师事务所进行了预沟通 ...

Core Viewpoint - Fengyuan Co., Ltd. (002805.SZ) has stated that there is currently no cooperative relationship with China Electronics Technology Group [1] Group 1 - The company is engaged in research and development of solid-state battery cathode materials [1] - Fengyuan Co., Ltd. will continue to monitor and keep pace with market development trends [1]

格隆汇1月21日丨丰元股份(002805.SZ)在投资者互动平台表示， 公司磷酸铁锂产品的有效产能利用率处 于较高水平。公司将持续跟踪行业发展动态，不断强化核心竞争力与差异化竞争优势，结合下游客户需 求反馈、原材料价格波动等多重因素，与客户开展积极商务沟通，实现供需双方长期共赢。 ...