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 ...

Group 1 - The company, Shenzhen Keda Li Industrial Co., Ltd., will participate in the "2025 Annual Online Collective Reception Day for Listed Companies in Shenzhen" to enhance interaction with investors [1] - The event will be held online on November 20, 2025, from 14:30 to 17:00, with a specific interactive session between the company and investors from 15:40 to 17:00 [1] - Company executives will address various topics of interest to investors, including company performance, governance, development strategy, operational status, financing plans, equity incentives, and sustainable development [1]

Core Points - The company, Keda Li, announced its participation in the "2025 Annual Online Collective Reception Day for Investors" organized by the Shenzhen Securities Regulatory Bureau and other entities [2] Group 1 - The event is scheduled for November 20, 2025, aimed at enhancing interaction and communication with investors [2]

| 证券代码：002850 | 证券简称：科达利 | 公告编号：2025-080 | | --- | --- | --- | | 债券代码：127066 | 债券简称：科利转债 | | 深圳市科达利实业股份有限公司 关于参加 2025 年度深圳辖区上市公司投资者 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，深圳市科达利实业股份有限公司（以下 简称"公司"）将参加由深圳证监局和中证中小投资者服务中心指导、深圳上市 公司协会与深圳市全景网络有限公司联合举办的"2025年度深圳辖区上市公司投 资者网上集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演APP,参与 本次互动交流，活动时间为2025年11月20日（周四）14:30-17:00，其中公司与投 资者线上互动交流时间为15:40-17:00。届时公司高管将在线就公司业绩、公司治 理、发展战略、经营状况、融资计划、 ...

Core Insights - KedaLi's stock price decreased by 2.00% to 158.37 CNY per share as of November 12, with a total market capitalization of 43.357 billion CNY [1] - The company has seen a year-to-date stock price increase of 65.52%, but a decline of 5.17% over the last five trading days [1] Financial Performance - For the period from January to September 2025, KedaLi reported a revenue of 10.603 billion CNY, representing a year-on-year growth of 23.41% [2] - The net profit attributable to shareholders for the same period was 1.185 billion CNY, 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 circulating shares per shareholder increased by 5.31% to 9,210 shares [2] Dividend Distribution - KedaLi has distributed a total of 1.312 billion CNY in dividends since its A-share listing, with 1.022 billion CNY distributed over the last 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] - Other notable shareholders include Quan Guo Xu Yuan and Hua Xia Energy Innovation, with varying changes in their holdings [3]