Core Insights - The lithium battery industry has transitioned from an early "frenzy" phase to a more mature stage, emphasizing collaboration and global respect [4] - The industry leaders stress the importance of long-term commitment and excellence in technology to lead the global market [6] - A call for a shift from short-term speculation to high-quality, high-value, and innovative development is highlighted as essential for future success [7] Industry Development - The event celebrated the achievements of the lithium battery industry over the past 15 years, recognizing its growth and global competitiveness [9][11] - The future 15 years are seen as a critical phase for high-quality innovation and development in the lithium battery sector [11] Awards and Recognition - The "2025 High工锂电 Fifteen Anniversary Award" and "2025 High工金球 Award" were presented to recognize outstanding contributions and breakthroughs in the industry [13] - Notable companies and individuals were acknowledged for their roles in advancing technology, market presence, and innovative business models [14][16][18][19][20][21][22][23][27][28][29][30][31][32][33][34]

Group 1: Company Overview and Operations - The company has established subsidiaries in key regions across China and overseas, including Europe, the United States, and Thailand, to enhance service and responsiveness to customer needs [2] - The company is actively promoting capacity coordination and has a comprehensive regional coverage for production capacity [2] Group 2: Future Orders and Production Capacity - The company anticipates that steady growth in downstream demand will drive both capacity release and order fulfillment, contributing to performance growth [2] - There is a focus on the progress of sample submissions in the robotics business, which is advancing as planned [3] Group 3: Impact of Raw Material Prices - The company acknowledges the long-term volatility in raw material prices, particularly aluminum, and plans to negotiate reasonable price adjustments with customers [3] - Strategies to mitigate the impact of raw material price fluctuations include capacity expansion, technological innovation, and improvements in production processes [3] Group 4: Investor Relations and Market Management - The company emphasizes the importance of investor relations and has been enhancing its governance framework to protect shareholder rights since its listing [3] - Future plans include developing a more scientific profit distribution scheme and expanding communication channels to boost investor confidence [3]

Core Viewpoint - The article highlights the positive outlook for the Chinese stock market, with foreign institutions increasing their investments and adjusting target indices upward for 2026, indicating a strong long-term investment potential in A-shares [1][2]. Group 1: Market Performance - As of November 20, 2025, the CSI 500 Quality Growth Index rose by 0.15%, with notable increases in constituent stocks such as Bluestar Technology (up 3.44%) and China National Materials (up 2.31%) [1]. - The CSI 500 Quality Growth ETF (560500) also saw a rise of 0.17%, reflecting overall positive market sentiment [1]. Group 2: Foreign Investment Trends - Multiple foreign institutions, including UBS and Morgan Stanley, have released optimistic reports for the Chinese stock market, collectively raising their target index levels for 2026 [1][2]. - Foreign institutional research and investment activities have been robust, with over 1,300 instances of foreign institutions conducting research on A-share companies since the beginning of the fourth quarter [1]. Group 3: Policy Developments - The China Securities Regulatory Commission (CSRC) has issued a plan to optimize the Qualified Foreign Institutional Investor (QFII) system, aiming to enhance cross-border investment facilitation [2]. - The ongoing improvements in the QFII system are expected to create a more stable and transparent environment for foreign investments in the Chinese capital market [2]. Group 4: Index Composition - The CSI 500 Quality Growth Index comprises 100 high-profitability, sustainable earnings, and cash-rich growth companies selected from the CSI 500 Index [2]. - As of October 31, 2025, the top ten weighted stocks in the index accounted for 21.64% of the total index weight, with companies like Huagong Technology and Kaiying Network being significant constituents [2].

Core Viewpoint - KedaLi's stock price has experienced fluctuations, with a year-to-date increase of 60.72% but a recent decline in the last five and twenty trading days [1][2] Financial Performance - For the period from January to September 2025, KedaLi achieved a revenue of 10.603 billion yuan, representing a year-on-year growth of 23.41% [2] - The net profit attributable to shareholders for the same period was 1.185 billion yuan, reflecting a year-on-year increase of 16.55% [2] Shareholder Information - As of September 30, 2025, KedaLi had 21,400 shareholders, a decrease of 4.91% from the previous period [2] - The average number of tradable shares per shareholder increased by 5.31% to 9,210 shares [2] Dividend Distribution - KedaLi has distributed a total of 1.312 billion yuan in dividends since its A-share listing, with 1.022 billion yuan distributed over the past three years [3] Major Shareholders - The second-largest shareholder is Hong Kong Central Clearing Limited, holding 7.7715 million shares, an increase of 1.128 million shares from the previous period [3] - The third-largest shareholder, Quan Guo Xu Yuan Three-Year Holding Period Mixed A, reduced its holdings by 401.38 thousand shares to 6.6846 million shares [3] - New entrants and changes in holdings among other major shareholders were noted, including a decrease in holdings by several funds [3]

Core Viewpoint - The company has completed the deregistration of its wholly-owned subsidiary, Xiamen Keda Li Precision Industry Co., Ltd., to optimize resource allocation and reduce management costs, thereby enhancing overall competitiveness and supporting long-term development goals [1][2]. Group 1 - The decision to deregister Xiamen Keda Li was approved during the fifth board meeting held on April 16, 2025 [1]. - The business operations of Xiamen Keda Li will be integrated into another wholly-owned subsidiary, Fujian Keda Li Precision Industry Co., Ltd. [1][2]. - The company emphasizes that this action will not harm the interests of the company or its shareholders [2].

Core Viewpoint - KedaLi announced the decision to dissolve its wholly-owned subsidiary, Xiamen KedaLi Precision Industry Co., Ltd, and integrate its operations into another subsidiary, Fujian KedaLi Precision Industry Co., Ltd [2] Company Actions - The fifth session of the fifth board meeting was held on April 16, 2025, where the resolution to dissolve Xiamen KedaLi was approved [2] - The dissolution process has been completed with the issuance of a registration notice by the Xiamen Municipal Market Supervision Administration [2]

Core Insights - The report highlights a significant recovery in the new energy sector, particularly in solar, wind, lithium batteries, and grid investments, indicating a positive trend for the industry [4][7][21]. New Energy Sector Performance - Solar and storage: Cumulative new photovoltaic installations reached 240.27 GW from January to September 2025, a year-on-year increase of 49.3%. Additionally, 1,671 new energy storage projects were registered in September 2025, reflecting a 24.15% increase year-on-year, with planned investments amounting to 96.177 billion yuan [4][7]. - Wind power: Cumulative investment in wind power construction reached 148.893 billion yuan, a 10.04% year-on-year increase. The total installed capacity of wind power reached 582 million kilowatts, up 21.30% year-on-year. The average bidding price for onshore wind turbines increased by 22.08% to 1,675 yuan/kW by the end of October [4][7]. - Lithium batteries: The demand for lithium batteries surged, with shipments reaching 490 GWh in Q3 2025, a 47% increase year-on-year. The price of lithium hexafluorophosphate rose to 121,500 yuan/ton, a 94.4% increase within the year [4][7]. - Grid investments: National grid construction investments totaled 437.807 billion yuan from January to September 2025, a 9.94% year-on-year increase. The total investment planned by the State Grid and Southern Grid for 2025 is expected to exceed 825 billion yuan, an increase of 220 billion yuan compared to 2024 [4][7]. Investment Recommendations - The report suggests focusing on undervalued stocks with improving fundamentals within the Shenwan Electric Equipment sector, which includes 363 constituent stocks. The selection criteria involve calculating rolling P/E ratios and filtering for companies with positive net profit growth over three consecutive quarters [21][27]. - Recommended stocks include: - DeYe股份 - 阳光电源 - 捷佳伟创 - 横店东磁 - 广大特材 - 大金重工 - 平高电气 - 国电南瑞 - 东方电子 - 科达利 [4][21][27].

Group 1 - The mechanical industry showed a strong performance in 2025, with a cumulative increase of 35.07%, outperforming the Shanghai and Shenzhen 300 index (17.94%) and the Shanghai Composite Index (17.99%) [1][17][21] - Emerging sectors such as AI equipment (140%), lithium battery equipment (96%), humanoid robots (67%), and engineering machinery (55%) led the gains in the mechanical industry, indicating significant investment opportunities [1][27][25] - The outlook for 2026 suggests continued growth in AI and technology sectors, with engineering machinery expected to maintain an upward trend and domestic demand gradually recovering from the bottom [1][30][39] Group 2 - Domestic economic conditions are currently experiencing a "weak recovery" phase, with fixed asset investment showing a differentiated pattern: manufacturing > infrastructure > real estate [2][30] - The general manufacturing sector is expected to enter a new investment cycle, driven by improved PPI and inventory levels, with a focus on high-end upgrades and stock replacement [39][46] - The export sector is benefiting from the competitive strength of leading Chinese companies, with a notable increase in orders for high-end machinery from Japan, reflecting the active investment in domestic high-end manufacturing [55][56] Group 3 - The AI-driven technology sector is expected to continue its upward trend, with hardware demand and new process iterations accelerating, particularly in AI PCB technology and humanoid robots [3][30][61] - Solid-state battery technology is at a critical juncture, with leading battery companies expanding production capacity, indicating a significant opportunity for battery equipment manufacturers [3][30][61] - Investment recommendations include focusing on technology growth assets such as AI PCB equipment, humanoid robots, and solid-state battery equipment, as well as engineering machinery and general automation sectors [4][61]

Core Viewpoint - The company has completed the deregistration of its wholly-owned subsidiary, Xiamen Keda Li Precision Industry Co., Ltd., to optimize resource allocation and reduce management costs, thereby enhancing overall competitiveness [1][2]. Summary by Sections Company Actions - Keda Li announced the completion of the deregistration of Xiamen Keda Li, which was officially recognized by the Xiamen Municipal Market Supervision Administration [1]. - The decision to deregister was made during the fifth board meeting on April 16, 2025, and the related business will be integrated into another wholly-owned subsidiary, Fujian Keda Li Precision Industry Co., Ltd. [1]. Strategic Implications - The deregistration is part of the company's strategic development needs, aimed at business integration and resource optimization, which will help reduce management costs and improve operational efficiency [2]. - The company emphasizes that this action will not harm the interests of the listed company or its shareholders, and it aims to consolidate its competitive advantage and protect shareholder rights [2]. - With the completion of the deregistration, the company's business structure will become more concentrated, potentially enhancing resource allocation efficiency and laying a foundation for continued development in core business areas such as automotive components for new energy vehicles [2].

| 证券代码：002850 | 证券简称：科达利 | 公告编号：2025-081 | | --- | --- | --- | | 债券代码：127066 | 债券简称：科利转债 | | 近日，厦门科达利取得了厦门市市场监督管理局下发的《登记通知书》，完 成了工商注销登记手续。 本次注销厦门科达利是为了优化资源配置、降低管理成本，并进一步增强公 司的整体竞争力，实现公司的长远发展目标，同时维护上市公司及其全体股东的 利益，不存在损害公司及股东利益的情形。 特此公告。 深圳市科达利实业股份有限公司 董 事 会 2025 年 11 月 17 日 深圳市科达利实业股份有限公司 关于全资子公司厦门科达利完成工商注销登记的公告 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。 深圳市科达利实业股份有限公司（以下简称"公司"）于 2025 年 4 月 16 日召开了第五届董事会第十六次会议，审议通过了《关于注销全资子公司厦门科 达利的议案》，同意注销公司全资子公司厦门科达利精密工业有限公司（以下简 称"厦门科达利"），其相关业务将并入公司全资子公司福建科达利精密工业有限 公司 ...