Group 1: Industry Developments - Multiple energy storage companies have secured significant orders, including a 520 million yuan contract signed by Shanghai Hope Smart New Energy Development Co., a subsidiary of Hope Co., and an agreement between Nari Technology and Pacific Green Group [1] - According to data from the National Energy Administration and third-party organizations, global lithium battery energy storage installations are expected to exceed 170 GWh in the first three quarters of 2025, representing a year-on-year growth of 68% [1] - Huatai Securities notes that a recent policy document from the Central Committee emphasizes carbon reduction goals and the development of new energy systems, which is expected to benefit energy storage, wind power, and grid companies [1] Group 2: Market Trends - CITIC Securities believes the energy storage market is recovering, with a projected increase in domestic new installations to 300 GWh next year, driven by marketization of new energy and capacity pricing [1] - The demand for energy storage is anticipated to grow significantly due to data centers, with leading companies already receiving substantial orders [1] Group 3: Company Performance - In the first three quarters, major companies like CATL, BYD, and Sungrow reported strong financial performance, with CATL achieving a revenue of 283.072 billion yuan and a net profit of 49.034 billion yuan, marking a year-on-year increase of 36.2% [3] - Companies such as Sungen and Gotion High-Tech saw their net profits double year-on-year, with Sungen's revenue reaching 14.809 billion yuan, a year-on-year increase of 11.48%, and a staggering net profit growth of 1121.72% [3] - As of the end of the third quarter, 11 energy storage concept stocks were held by social security funds, with companies like Haopeng Technology and Shenghong Shares having significant holdings [3] Group 4: Stock Performance - The average increase in energy storage concept stocks this year is 62.87%, with companies like Haibo Technology and Sungrow seeing their stock prices double, and Haibo Technology achieving the highest increase of 352.95% [2] - In October, 17 concept stocks underwent institutional research, with Jinpan Technology receiving attention from 254 institutions, indicating strong market interest [2]

Market Overview - The A-share market showed mixed performance with the Shanghai Composite Index up by 0.05% while the Shenzhen Component Index and the ChiNext Index fell by 1.06% and 1.37% respectively [1] - Trading volume decreased significantly, with a half-day turnover of 1.38 trillion yuan, down by 175.5 billion yuan compared to the previous trading day [1] Index Performance - The Shanghai Composite Index closed at 3956.72, with a slight increase of 1.93 points [2] - The Shenzhen Component Index and ChiNext Index saw declines of 141.18 points and 43.58 points respectively [2] - The overall market saw 2589 stocks decline while 2674 stocks rose, indicating a bearish sentiment [2] Sector Performance - The coal sector remained active, with companies like Antai Group hitting the daily limit up, driven by high demand from steel and power industries as winter approaches [3] - The lithium battery, rare earth permanent magnet, semiconductor, and consumer electronics sectors experienced widespread declines [3] - The AIGC index surged, with stocks like Fushi Holdings and Chunzhong Technology seeing significant gains [5] Specific Stock Movements - Notable declines in the new energy vehicle sector, with stocks like Xian Dao Intelligent and Dang Sheng Technology dropping over 8% and 6% respectively [4] - In contrast, Hong Kong-listed new energy vehicle stocks like NIO and XPeng saw gains of nearly 3% [4] - The gold and jewelry index fell nearly 3%, with major stocks like Chao Hong Ji nearing their daily limit down [7] Monetary Policy - The central bank conducted a reverse repurchase operation of 783 billion yuan at a fixed rate of 1.40%, resulting in a net withdrawal of 259 billion yuan for the day [8]

Core Insights - The lithium battery materials industry has shown significant improvement in the third quarter of 2025, with many companies turning losses into profits and a clear trend of recovery in the sector [1][3] Group 1: Performance of Positive Electrode Material Companies - Tianqi Lithium's revenue for the first three quarters was 7.397 billion yuan, down 26.5%, but it achieved a net profit of 180 million yuan, marking a turnaround [2] - Ganfeng Lithium reported a revenue of 14.625 billion yuan, a growth of 5.02%, with a net profit of 2.552 billion yuan, also a turnaround [2] - Huaneng Technology and other companies have seen significant profit increases, with Huaneng's revenue reaching 23.226 billion yuan, up 46.27%, and a net profit of 645 million yuan, up 31.51% [2][3] Group 2: Trends in Positive Electrode Materials - High-pressure compact lithium iron phosphate has become a focal point for companies, driven by strong demand in the energy storage sector and advancements in technology [3][4] - The price of battery-grade lithium carbonate has rebounded, maintaining a range of 80,300 to 81,700 yuan per ton, contributing to the positive performance of many positive electrode material companies [4] - Major companies like Longpan Technology have secured large orders from leading firms, enhancing their market position [4] Group 3: Performance of Negative Electrode Material Companies - The negative electrode materials sector has also seen a recovery, with a total shipment of 201.1 million tons in the first nine months of 2025, a year-on-year increase of 35.1% [7] - Shanshan Co. achieved a net profit of 33.14 million yuan in Q1, marking a successful turnaround, and its stock price has rebounded significantly [7][8] - Companies like BTR and Putailai are expanding their overseas business and solid-state battery technology, contributing to their recovery and growth [8]

Group 1 - The lithium battery materials industry showed mixed results in Q3 2025, with over 80% of listed companies reporting quarter-on-quarter revenue growth, while 60% experienced a decline in net profit, indicating ongoing challenges in profitability [1][2] - The average year-on-year growth rates for revenue and net profit among 41 companies were 19.78% and 20.08%, respectively, a significant improvement from the previous year's declines of -15.96% and -168.07% [2] - The performance of the positive electrode material segment remains under pressure, while the negative electrode segment shows signs of stabilization and recovery [3][4] Group 2 - Major companies like Minmetals New Energy and Keda Technology reported significant quarter-on-quarter revenue increases of 43.72% and 54.21%, respectively, reflecting a recovery in industry demand and material prices [2] - Despite revenue growth, 24 out of 41 companies reported a decline in net profit, with notable drops from Rongbai Technology (-155.35%) and Minmetals New Energy (-81.84%) [2][3] - The negative electrode material segment saw strong performance, with companies like Shanshan Co. and Puli Technology reporting substantial profit increases, indicating a positive trend in this area [4] Group 3 - The capital market remains optimistic about the lithium battery materials sector, with an average price increase of 66.95% for the battery materials sector from the beginning of 2025 to the latest closing date [7] - Prices for battery-grade lithium carbonate and hexafluorophosphate have rebounded sharply, with hexafluorophosphate prices exceeding 110,000 yuan/ton, reflecting a significant increase from earlier in the year [7] - The anticipated growth in demand for energy storage solutions is expected to drive further increases in lithium battery demand, with projections of over 2,700 GWh in total lithium battery demand next year, a year-on-year growth rate exceeding 30% [8]

Core Viewpoint - The company BoYuan Co., Ltd. has signed a strategic cooperation framework agreement with Tsinghua Tongfang Technology in October 2025, focusing on the development and market expansion of high-performance solid-state electrolytes through resource integration, industrial synergy, technological innovation, and capital fusion [1] Group 1 - The collaboration will emphasize diversified cooperation around the sulfide solid electrolyte system [1] - The partnership aims to enhance both companies' core competitiveness and market first-mover advantage in the global solid-state battery key materials supply chain [1]

Group 1 - The company announced that its sixth board meeting was held on October 30, 2025, via telecommunication voting, where it reviewed the proposal for the re-election of independent directors and committee members [1] - For the first half of 2025, the company's revenue composition was 98.35% from non-metal mineral products and 1.65% from specialized equipment manufacturing [1] - The current market capitalization of the company is 37.7 billion yuan [1]

北京当升材料科技股份有限公司 独立董事提名人声明与承诺（汤谷良） 五、被提名人已经参加培训并取得证券交易所认可的相关培训证明材料（如 有）。 北京当升材料科技股份有限公司 独立董事提名人声明与承诺 提名人北京当升材料科技股份有限公司董事会现就提名汤谷良为北京当升 材料科技股份有限公司第六届董事会独立董事候选人发表公开声明。被提名人已 书面同意作为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 独立董事候选人（参见该独立董事候选人声明与承诺）。本次提名是在充分了解 被提名人职业、学历、职称、详细的工作经历、全部兼职、有无重大失信等不良 记录等情况后作出的，本提名人认为被提名人符合相关法律、行政法规、部门规 章、规范性文件和深圳证券交易所业务规则对独立董事候选人任职资格及独立性 的要求，具体声明并承诺如下事项： 一、被提名人已经通过北京当升材料科技股份有限公司第六届董事会提名委 员会资格审查，提名人与被提名人不存在利害关系或者其他可能影响独立履职情 形的密切关系。 √ 是 □ 否 二、被提名人不存在《中华人民共和国公司法》第一百七十八条等规定不得 担任公司董事的情形。 √ 是 □ 否 三、被提名人符合 ...

北京当升材料科技股份有限公司 关于续聘天健会计师事务所(特殊普通合伙)为公司 2025 年度财务审计机构及内部控制审计机构的公告 证券代码：300073 证券简称：当升科技 公告编号：2025-081 北京当升材料科技股份有限公司 关于续聘天健会计师事务所(特殊普通合伙)为 公司 2025 年度财务审计机构及内部控制审计机构的公告 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。 特别提示： 北京当升材料科技股份有限公司（以下称"公司"或"当升科技"）续聘会 计师事务所事项符合财政部、国务院国资委、中国证监会印发的《国有企 业、上市公司选聘会计师事务所管理办法》（财会〔2023〕4 号）的规定。 公司于 2025 年 10 月 30 日召开的第六届董事会第十九次会议审议通过了《 关于续聘天健会计师事务所（特殊普通合伙）为公司 2025 年度财务审计机构及 内部控制审计机构的议案》，公司拟续聘天健会计师事务所（特殊普通合伙） 为公司 2025 年度财务审计机构及内部控制审计机构，自股东会审议通过之日起 生效，聘期一年，审计费用为人民币 105 万元，现将有关事项公 ...

北京当升材料科技股份有限公司 独立董事候选人声明与承诺（汤谷良） 北京当升材料科技股份有限公司 独立董事候选人声明与承诺 声明人汤谷良，作为北京当升材料科技股份有限公司第六届董事会独立董事 候选人，已充分了解并同意由提名人北京当升材料科技股份有限公司董事会提名 为北京当升材料科技股份有限公司（以下称"公司"）第六届董事会独立董事候 选人。现公开声明和保证，本人与该公司之间不存在任何影响本人独立性的关系， 且符合相关法律、行政法规、部门规章、规范性文件和深圳证券交易所业务规则 对独立董事候选人任职资格及独立性的要求，具体声明并承诺如下事项： 一、本人已经通过北京当升材料科技股份有限公司第六届董事会提名委员会 资格审查，提名人与本人不存在利害关系或者其他可能影响独立履职情形的密切 关系。 ☑ 是 □ 否 二、本人不存在《中华人民共和国公司法》第一百七十八条等规定不得担任 公司董事的情形。 ☑ 是 □ 否 三、本人符合中国证监会《上市公司独立董事管理办法》和深圳证券交易所 业务规则规定的独立董事任职资格和条件。 五、本人已经参加培训并取得证券交易所认可的相关培训证明材料（如有）。 ☑ 是 □ 否 1 北京当升材料科 ...

证券代码：300073 证券简称：当升科技 公告编号：2025-080 北京当升材料科技股份有限公司 关于召开 2025 年第四次临时股东会的通知 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、召开会议的基本情况 1、股东会届次：2025 年第四次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所创业板 股票上市规则》《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》等法律、行政法规、部门规章、规范性文件及《公司章程》的有关规定。 4、会议时间： （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 11 月 19 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投 票的具体时间为 2025 年 11 月 19 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：2025 年 11 月 12 日 7、出席对象： （1）截至 202 ...