北京当升材料科技股份有限公司 第六届董事会第二十次会议决议公告 北京当升材料科技股份有限公司 第六届董事会第二十次会议决议公告 证券代码：300073 证券简称：当升科技 公告编号：2025-086 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 北京当升材料科技股份有限公司（以下称"公司"）第六届董事会第二十次 会议于 2025 年 12 月 30 日以通讯表决的方式召开。会议通知已于 2025 年 12 月 25 日以邮件的方式发出。本次会议应出席董事 9 名，实际出席董事 9 名，公司 董事长陈彦彬先生主持会议，公司高级管理人员列席了本次会议。本次会议的召 集、召开程序符合《中华人民共和国公司法》和《北京当升材料科技股份有限公 司章程》（以下称"《公司章程》"）的有关规定。 二、董事会会议审议情况 1、审议通过了《关于为芬兰子公司提供担保的议案》 公司控股子公司当升科技（芬兰）新材料有限公司为满足经营发展需要，拟向 银行申请总额不超过61,440万欧元的授信额度（最终以实际获批的授信额度为准）， 公司和Finnish Minera ...

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].

Group 1 - The lithium battery sector is regaining market attention, driven by strong supply and demand dynamics, with a significant increase in global energy storage market demand [1][2] - The total demand for lithium batteries is projected to reach 2495 GWh by 2026, reflecting a 28% year-on-year growth from 1944 GWh in 2025, indicating a critical balance point in supply and demand [1] - The supply side shows that leading companies are currently hesitant to expand production, with a 30% growth rate identified as the threshold for potential supply shortages [1] Group 2 - Energy storage is becoming a key variable in reshaping industry growth, with expectations of over 60% growth in global energy storage installation demand by 2026 [2] - The average energy capacity per electric vehicle is expected to continue increasing, contributing to a total growth rate of over 15% in power batteries driven by the adoption of electric vehicles [2] - Solid-state battery technology is advancing from the verification phase to mass production preparation, with significant developments expected in the second half of 2025 [2] Group 3 - The midstream materials segment of the lithium battery industry is anticipated to see profitability improvements in 2026, benefiting from high demand for energy storage [3] - Key beneficiaries of the growth include leading battery manufacturers such as CATL, EVE Energy, and Guoxuan High-Tech, which are well-positioned to capitalize on global energy storage demand [3] - The materials chain is expected to experience significant profitability due to supply-side reforms and high-end product penetration, with companies like Tianqi Lithium and Hunan Youneng highlighted as potential investment opportunities [3]

Core Viewpoint - The company, Dangsheng Technology, has shown a mixed performance in financing activities and stockholder dynamics, with significant revenue growth but a decline in net profit growth rate. Financing Activities - On December 19, Dangsheng Technology's stock increased by 0.98% with a trading volume of 472 million yuan. The financing buy-in amount was 47.43 million yuan, while the financing repayment was 50.37 million yuan, resulting in a net financing outflow of 2.94 million yuan. The total financing and securities balance reached 1.227 billion yuan [1] - The current financing balance is 1.220 billion yuan, accounting for 4.25% of the circulating market value, which is below the 10% percentile level over the past year, indicating a low position [1] - In terms of securities lending, 900 shares were repaid, and 11,400 shares were sold, amounting to 646,270 yuan, with the remaining securities lending balance at 114,000 shares, also below the 20% percentile level over the past year [1] Company Overview - Beijing Dangsheng Materials Technology Co., Ltd. was established on June 3, 1998, and listed on April 27, 2010. The company specializes in the research, production, and sales of lithium-ion battery cathode materials and high-end intelligent equipment [1] - The main business revenue composition includes: multi-materials (60.83%), lithium iron phosphate and sodium battery cathode materials (29.37%), lithium cobalt oxide (7.44%), intelligent equipment (1.55%), and other businesses (0.82%) [1] Financial Performance - As of September 30, the number of shareholders for Dangsheng Technology was 86,400, a decrease of 0.37% from the previous period. The average circulating shares per person increased by 0.37% to 5,856 shares [2] - For the period from January to September 2025, the company achieved a revenue of 7.399 billion yuan, representing a year-on-year growth of 33.92%. The net profit attributable to the parent company was 503 million yuan, with a year-on-year growth of 8.30% [2] Dividend Distribution - Since its A-share listing, Dangsheng Technology has distributed a total of 1.265 billion yuan in dividends, with 821 million yuan distributed over the past three years [3] Institutional Holdings - As of September 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited as the third-largest shareholder with 13.155 million shares, an increase of 8.7215 million shares from the previous period. The E Fund Growth Enterprise ETF ranked fourth with 8.6057 million shares, a decrease of 1.4402 million shares [3] - Other notable shareholders include Southern CSI 500 ETF, which increased its holdings by 304,300 shares, and new entrants like Morgan Emerging Power Mixed A [3]

Group 1 - The company has confirmed that its chlorine-iodine composite solid electrolyte has undergone batch validation with leading customers, receiving positive feedback on performance [2] - Specific details regarding customer collaborations are considered trade secrets and cannot be disclosed [2]

Core Viewpoint - The price of electrolytic manganese has risen continuously for 13 days since December, reaching a new high of 17,820 yuan/ton, with a cumulative increase of over 2,300 yuan/ton, marking a nearly 15% rise since the beginning of the month [1][3]. Price Drivers - The recent price increase of electrolytic manganese is driven by multiple factors including supply contraction, cost support, and improved demand [3]. - Environmental regulations in major production areas like Guangxi and Guizhou have led to reduced production from smaller facilities, contributing to supply tightness [3]. - Rising water and electricity costs due to the dry season have increased production costs, prompting some small smelting enterprises to cut back on output [3]. - The ongoing construction of a 600,000-ton electrolytic manganese project by Ningxia Tianyuan Manganese Industry is expected to further tighten supply until its completion in the second half of 2026 [3]. Demand Analysis - The steel industry shows stable demand, with many steel mills maintaining production rates and year-end inventory replenishment needs becoming apparent [4]. - Specific downstream sectors, such as the 200 series stainless steel, exhibit strong demand resilience for electrolytic manganese [4]. - Recent bidding prices for spherical electrolytic manganese have surged to 16,600 yuan/ton, reflecting a significant increase of 2,102 to 2,420 yuan/ton from the previous round, boosting market sentiment [4]. Growth in New Energy Sector - The manganese industry is transitioning from being primarily associated with steel to becoming a critical component in the new energy sector, particularly in battery production [5]. - The commercial application of new battery technologies, such as lithium iron phosphate manganese, is driving explosive growth in demand for high-purity electrolytic manganese [5]. - Projects like Yunnan Youneng's second phase, expected to be fully operational by the end of 2025, will add significant production capacity for lithium iron phosphate manganese [5]. Manganese Industry Stocks - Key manganese industry stocks include Sanxia Water, Hongxing Development, Xiangtan Electric, Western Gold, and Zhonggang Tianyuan, among others [6]. - Hongxing Development holds manganese mining assets with a total capacity of approximately 250,000 tons/year [6]. - Xiangtan Electric has a total capacity of 122,000 tons for electrolytic manganese dioxide and plans to expand its lithium manganese oxide capacity [7]. - Zhonggang Tianyuan is the largest producer of battery-grade manganese tetroxide, with a production capacity of 85,000 tons [7]. - Western Gold's subsidiary, Kebang Manganese, is the only electrolytic manganese producer in Xinjiang, benefiting from a complete industry chain [8].

Investment Rating - The industry investment rating is "Overweight" (maintained), indicating that the industry index is expected to outperform the market index by more than 10% in the next six months [4]. Core Insights - In November 2025, the production and sales of new energy vehicles reached new highs, with production and sales of 1.88 million and 1.823 million units respectively, representing year-on-year growth of 20% and 20.6% [3]. - The penetration rate of new energy vehicles in November was 53.2%, up 1.6 percentage points month-on-month, while the cumulative penetration rate from January to November was 47.5% [3]. - The demand for lithium batteries remains robust, with a significant increase in battery production and sales in November, achieving a year-on-year growth of 49.2% and 52.2% respectively [3]. - The report maintains an optimistic outlook for lithium battery demand in the coming year, driven by strong storage demand and the ongoing industrialization of solid-state batteries [3]. Summary by Sections New Energy Vehicle Market - In November 2025, new energy vehicle production and sales reached 1.88 million and 1.823 million units, with year-on-year growth of 20% and 20.6% respectively [3]. - Cumulative production and sales from January to November were 14.907 million and 14.78 million units, with year-on-year growth of 31.4% and 31.2% [3]. - Exports of new energy vehicles in November reached 300,000 units, a year-on-year increase of 2.6 times [3]. Battery Production and Sales - In November, the production of power and other batteries was 176.3 GWh, with a year-on-year increase of 49.2% [3]. - Battery sales in November were 179.4 GWh, with a year-on-year increase of 52.2% [3]. - The sales of power batteries accounted for 74.7% of total sales, with a year-on-year growth of 52.7% [3]. Industry Outlook - The report suggests that the lithium battery industry will continue to see demand growth, particularly in the context of strong storage needs and the advancement of solid-state battery technology [3]. - Key companies to watch include CATL, Yiwei Lithium Energy, and others involved in the solid-state battery supply chain [3].

Group 1 - The core point of the article is that 当升科技 (300073.SZ) has implemented a stock buyback plan, purchasing a total of 283,200 shares from the secondary market, which represents 0.05% of the company's total share capital [1] - The shares were acquired through a trust managed by 云南国际信托有限公司, specifically the "云南信托－与奋斗者同行当升科技员工持股第六期管理服务信托" [1] - The average transaction price for the shares was 55.83 yuan per share, with a total transaction amount of approximately 15.81 million yuan [1]

北京当升材料科技股份有限公司 关于 2025 年管理层与核心骨干股权增持计划实施进展的公告 证券代码：300073 证券简称：当升科技 公告编号：2025-085 北京当升材料科技股份有限公司 实施进展的公告 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。 北京当升材料科技股份有限公司（以下称"当升科技"或"公司"）2025 年第三次临时股东大会于 2025 年 8 月 12 日审议通过了《<2025 年管理层与核心 骨干股权增持计划（草案）>及摘要》（以下称"股权增持计划"）。根据中国 证券监督管理委员会《关于上市公司实施员工持股计划试点的指导意见》及《深 圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》的相 关要求，现将公司本次股权增持计划实施进展情况公告如下： 截至本公告披露日，公司股权增持计划已通过"云南国际信托有限公司－云 南信托－与奋斗者同行当升科技员工持股第六期管理服务信托"从二级市场以 市价累计买入了公司股票合计 283,200 股，占公司总股本的 0.05%，成交均价为 55.83 元/股，成交总金额为 15,810,2 ...

Group 1 - The core transaction involved 130,000 shares of Dangsheng Technology, with a total transaction value of 6.0983 million yuan, representing 0.95% of the total trading volume for the day [1][2] - The transaction price was 46.91 yuan per share, which is an 18.73% discount compared to the market closing price of 57.72 yuan [1][2]