Group 1 - The core point of the article is that Hesheng Co., Ltd. has received approval for the environmental impact assessment of its subsidiary's project to expand the annual production capacity of new energy vehicle battery trays to 300,000 units [2] - The total investment for this project is 150 million yuan [2] - The approval information was disclosed by relevant regulatory authorities on December 26, 2025 [2]

证券代码：002824 证券简称：和胜股份 公告编号：2026-001 广东和胜工业铝材股份有限公司 关于股东股份解除质押的公告 | 股东名 | 是否为控股股东 | 本次解除质 | | 占其所持 | 占公司当 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 称 | 或第一大股东及 | 押股份数量 | | 股份比例 | 前总股本 | | 起始日 | | 解除日期 | | 质权人 | | | 其一致行动人 | （万股） | | （%） | 比例（%） | | | | | | | | 李清 | 是 | | 243 | 30.60 | 0.78 | 2024 | 年 7 | 月 9 | 年 2026 1 | 月 | 国联民生证 券股份有限 | | | | | | | | | 日 | | 日 8 | | | | | | | | | | | | | | | 公司 | 2、股东股份累计质押基本情况 注 1：截至本公告披露日，上述股东所持股份不存在被冻结的情况，上述有限售条件股 份均为高管锁定股 ...

Group 1 - The core viewpoint of the news highlights the trading performance and financial metrics of He Sheng Co., indicating a mixed sentiment in the market with a slight increase in stock price but negative net financing [1] - On January 6, He Sheng Co. experienced a stock price increase of 0.26% with a trading volume of 113 million yuan, while the net financing was negative at -9.71 million yuan [1] - The financing balance of He Sheng Co. as of January 6 is 116 million yuan, which constitutes 2.17% of its market capitalization, indicating a low financing level compared to the past year [1] Group 2 - As of December 19, the number of shareholders for He Sheng Co. increased by 1.33% to 24,600, while the average number of circulating shares per shareholder decreased by 1.32% to 7,689 shares [2] - For the period from January to September 2025, He Sheng Co. reported a revenue of 2.708 billion yuan, reflecting a year-on-year growth of 19.05%, and a net profit attributable to shareholders of 100 million yuan, marking an 80.38% increase [2] - He Sheng Co. has distributed a total of 250 million yuan in dividends since its A-share listing, with 163 million yuan distributed over the past three years [2]

Core Viewpoint - The battery box industry in China is experiencing significant growth, projected to increase from 7.5 billion yuan in 2021 to 27.5 billion yuan in 2024, driven by the demand from the electric vehicle and energy storage sectors [1][7]. Industry Overview - The battery box is a protective structure for battery packs, designed for support, connection, heat dissipation, and ease of installation and maintenance. It can be categorized by application (electric vehicles, energy storage systems, portable devices), material (metal, plastic), structure (modular, integrated), installation method (built-in, external), and battery type (lithium-ion, lead-acid) [3][4]. Market Size and Growth - The market size for battery boxes in China is expected to reach 35.188 billion yuan by 2025, continuing the upward trend fueled by the booming demand in the electric vehicle and energy storage sectors [1][7]. - The production of aluminum alloy, a key material for battery boxes, is projected to reach 16.141 million tons in 2024, reflecting a year-on-year increase of 9.6% [5][6]. Competitive Landscape - The battery box industry is primarily composed of two types of competitors: those focused on electric vehicle battery box production, such as He Sheng Co. and New Aluminum Era, and traditional automotive parts manufacturers like Lingyun Co. and Huayu Automotive, which are expanding into the battery box market [9][10]. - Leading companies are capturing a significant market share, while smaller firms often resort to price competition, which may hinder their long-term sustainability [13]. Industry Trends - Lightweight materials are becoming increasingly important in the industry, as the weight of battery systems significantly impacts energy efficiency in electric vehicles. The battery box, as a non-cell component, plays a crucial role in achieving this lightweight goal [11]. - The demand for battery boxes is expected to grow in tandem with the electric vehicle market, as they are essential components of the vehicle's power system [12]. - The concentration of market share is rising, with leading companies like He Sheng Co. and New Aluminum Era dominating the industry, while smaller players struggle to maintain competitiveness [13].

Core Insights - The report highlights a sustained high growth in electric vehicle (EV) sales across nine European countries in November 2025, with a total of 281,000 new energy vehicles sold, representing a year-on-year increase of 38.6% and a penetration rate of 34.3%, up by 9.0 percentage points [1][2]. Group 1: Sales Performance - In November 2025, battery electric vehicle (BEV) sales reached 190,000 units, marking a year-on-year increase of 40.5%, while plug-in hybrid electric vehicle (PHEV) sales totaled 91,000 units, up by 35.0% [1][2]. - Germany's BEV sales were 56,000 units, a significant year-on-year increase of 58.5%, and PHEV sales were 32,000 units, up by 57.4% [2][3]. - France's BEV sales reached 34,000 units, reflecting a year-on-year growth of 47.5%, with a penetration rate of 25.8%, an increase of 8.4 percentage points [3]. Group 2: Market Drivers - The implementation of subsidies in France and Italy has led to a rapid increase in BEV sales, with Italy experiencing a remarkable year-on-year growth of 131.4% in BEV sales, totaling 15,000 units [3]. - The UK has restarted EV subsidies and is under pressure from zero-emission vehicle (ZEV) targets, which is expected to sustain growth in EV sales in the coming months [2][3]. - Norway is anticipated to see a surge in electric vehicle purchases as the year-end approaches, driven by consumer demand [1][2]. Group 3: Future Outlook - The European Commission's proposal to adjust the 2035 emission reduction targets is not expected to hinder the long-term trend of electrification in Europe; instead, it may promote sales of small electric vehicles [4]. - New generations of pure electric models are set to be launched by various automakers from late 2025 to the first half of 2026, which is likely to boost the European EV market [4]. Group 4: Investment Recommendations - Investment recommendations include companies involved in lithium batteries, lithium materials, battery structural components, power/electric drive systems, automotive safety components, and charging infrastructure [4]. - Specific companies recommended for investment in lithium batteries include CATL, EVE Energy, and Xinwangda, while lithium material companies include Hunan Youneng and Tianci Materials [4].

Core Viewpoint - The stock of He Sheng Co., Ltd. has shown significant growth this year, with a year-to-date increase of 22.54% and a recent surge in trading activity, indicating positive market sentiment towards the company [2]. Group 1: Stock Performance - As of December 25, He Sheng's stock price rose by 2.09% to 19.03 CNY per share, with a trading volume of 61.73 million CNY and a turnover rate of 1.76%, resulting in a total market capitalization of 5.922 billion CNY [1]. - The stock has experienced a 5-day increase of 8.25%, a 20-day increase of 5.55%, and a 60-day increase of 0.48% [2]. Group 2: Company Overview - He Sheng Co., Ltd. was established on April 20, 2005, and went public on January 12, 2017. The company specializes in the research, production, and sales of industrial aluminum extrusion materials and deep-processing products [2]. - The revenue composition of the company is primarily from aluminum products (93.32%), with other sources contributing 5.33% and commissioned processing accounting for 1.36% [2]. Group 3: Financial Performance - For the period from January to September 2025, He Sheng reported a revenue of 2.708 billion CNY, reflecting a year-on-year growth of 19.05%. The net profit attributable to shareholders reached 100 million CNY, marking an impressive increase of 80.38% [2]. Group 4: Shareholder Information - As of December 19, the number of shareholders for He Sheng was 24,600, an increase of 1.33% from the previous period, with an average of 7,689 circulating shares per shareholder, a decrease of 1.32% [2]. - The company has distributed a total of 250 million CNY in dividends since its A-share listing, with 163 million CNY distributed over the past three years [3].

Group 1 - The core point of the article is that Hesheng Co., Ltd. (002824) reported a total of 24,598 shareholders as of December 19, 2025 [1]

Core Insights - The article emphasizes the critical role of battery cell shells as protective structures for internal electrochemical materials, highlighting their importance in safety, sealing, heat dissipation, and resistance to internal expansion [1][2] - The market for battery cell shells is projected to reach approximately 28.1 billion yuan in 2024 and is expected to grow to 37.4 billion yuan by 2025, driven by the demand from electric vehicles, energy storage, and consumer electronics [1][7] Industry Overview - Battery cell shells serve as the "armor" for cells, protecting key components like the anode, cathode, separator, and electrolyte from physical damage and environmental factors [2][4] - The industry chain is tightly interconnected, with upstream materials primarily consisting of aluminum, steel, and emerging composite materials, while leading manufacturers like Keda Li and Zhenyu Technology dominate the midstream production [4][5] Market Dynamics - The demand for battery cell shells is characterized by a dominant focus on power batteries, a rapidly growing energy storage sector, and stable support from consumer electronics [5][6] - In 2025, the domestic power battery installation volume is expected to reach 578.0 GWh, marking a significant year-on-year increase of 42.4%, with lithium iron phosphate batteries accounting for over 80% of this growth [5][6] Competitive Landscape - The Chinese battery cell shell industry is highly concentrated, with the top five companies holding over 42% market share. Keda Li and Zhenyu Technology form the first tier, closely linked with major battery manufacturers like CATL and BYD [8][10] - The second tier includes companies like Sileck and Lingyun, which focus on specific technologies and partnerships to expand their market presence [8][10] Development Trends - The industry is expected to evolve towards extreme safety, material innovation (such as composite materials), and higher integration with battery systems, with a shift from precision manufacturing to providing integrated solutions [11][14] - The introduction of stringent safety standards, such as GB 38031-2025, is driving fundamental changes in materials and design, pushing for innovations in composite materials that enhance safety and reduce weight [11][12][13]

Group 1 - The core viewpoint of the article highlights that Hesheng Co., Ltd. is actively engaging in the aluminum alloy materials and products sector, focusing on market hotspots and leveraging its technological innovation capabilities [2] - The company is committed to accelerating the cultivation of new business formats, models, and driving new momentum in the industry [2] - Hesheng Co., Ltd. emphasizes its extensive experience in application scenarios, which supports its strategic positioning in future industry developments [2]

Core Viewpoint - The company has successfully implemented a stock option and restricted stock incentive plan, enhancing its capital structure and employee motivation through the issuance of restricted stocks [1] Group 1: Stock Incentive Plan - The company held its second extraordinary general meeting of shareholders on October 13, 2025, where it approved the proposal to authorize the board to handle matters related to the stock option and restricted stock incentive plan [1] - On November 4, 2025, the company granted 1.2196 million shares of restricted stock to 207 incentive recipients [1] - The registration of the related shares was completed on December 5, 2025, and the company has finalized the necessary changes to its registered capital and articles of association [1] Group 2: Capital Changes - The company's registered capital increased from 309.959238 million RMB to 311.78838 million RMB following the completion of the registration process [1] - On December 12, 2025, the company received a registration notice from the Zhongshan Market Supervision Administration and obtained the updated business license [1]