一、第三期股权增持计划的基本情况 北京当升材料科技股份有限公司 关于延长 2022 年管理层与核心骨干股权增持计划存续期的公告 证券代码：300073 证券简称：当升科技 公告编号：2025-076 北京当升材料科技股份有限公司 关于延长 2022 年管理层与核心骨干股权增持计划 存续期的公告 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。 2025 年 10 月 24 日，北京当升材料科技股份有限公司（以下称"当升科技" 或"公司"）第六届董事会第十八次会议审议通过了《关于延长 2022 年管理层 与核心骨干股权增持计划存续期的议案》，同意将公司 2022 年管理层与核心骨 干股权增持计划（以下称"第三期股权增持计划"）存续期延长不超过 12 个月， 现将有关事项公告如下： 2022 年 6 月 28 日，公司 2022 年第一次临时股东大会审议通过了《<公司 2022 年管理层与核心骨干股权增持计划（草案）>及摘要》等相关议案，具体内容详 见公司披露在巨潮资讯网（www.cninfo.com.cn）上的相关公告。公司第三期股 权增持计划于 2022 年 1 ...

Core Viewpoint - The company reported significant growth in revenue and net profit for the third quarter and the first three quarters of the year, indicating strong operational performance and market demand [1] Financial Performance - The third quarter revenue reached 2.967 billion yuan, representing a year-on-year increase of 49.54% [1] - The net profit for the third quarter was 192 million yuan, showing a year-on-year growth of 8.02% [1] - For the first three quarters, the total revenue amounted to 7.399 billion yuan, which is a year-on-year increase of 33.92% [1] - The net profit for the first three quarters was 503 million yuan, reflecting a year-on-year growth of 8.30% [1]

关于北京当升材料科技股份有限公司 使用闲置募集资金进行现金管理的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为北京 当升材料科技股份有限公司（以下简称"当升科技"或"公司"）2021 年度向 特定对象发行 A 股股票及 2024 年度向特定对象发行股票的持续督导保荐机构， 根据《上市公司募集资金监管规则》《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》等相关法律、法规的规定，对当升科技使用 闲置募集资金进行现金管理的事项进行了审慎核查，并出具本核查意见。核查情 况如下： 中信证券股份有限公司 一、募集资金基本情况 2021 年 11 月，经中国证券监督管理委员会《关于同意北京当升材料科技股 份有限公司向特定对象发行股票注册的批复》（证监许可〔2021〕3437 号）核 准，公司向特定对象发行人民币普通股（A 股）52,880,236 股，每股面值人民币 1.00 元，发行价格为人民币 87.84 元/股，募集资金总额为 4,644,999,930.24 元， 扣除保荐及承销费用人民币（不含税）21,539,622.64 元，其他发行费用人民币（不 含税）2, ...

北京当升材料科技股份有限公司 第六届董事会第十八次会议决议公告 证券代码：300073 证券简称：当升科技 公告编号：2025-073 北京当升材料科技股份有限公司 第六届董事会第十八次会议决议公告 二、董事会会议审议情况 1、审议通过了《2025 年第三季度报告》 董事会经审核后认为，公司《2025年第三季度报告》的内容真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏。相关财务信息也已经公司董事 会审计委员会审议通过，并同意将该报告提交公司董事会审议。 《2025年第三季度报告》的具体内容详见巨潮资讯网（www.cninfo.com.cn）。 经表决：同意 9 票；反对 0 票；弃权 0 票。 2、审议通过了《关于使用闲置募集资金进行现金管理的议案》 为提高募集资金使用效率，合理利用闲置募集资金，在不影响募集资金投资 项目的正常进行、保证资金安全的前提下，公司及子公司当升科技(芬兰)新材料 有限公司、当升蜀道(攀枝花)新材料有限公司拟使用额度不超过人民币 12 亿元 的闲置募集资金适时购买安全性高、流动性好的现金管理产品。使用期限自董事 1 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 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥2,966,751,678.69, representing a year-on-year increase of 49.54%[5] - Net profit attributable to shareholders was ¥191,641,019.00, an increase of 8.02% compared to the same period last year[5] - The net profit excluding non-recurring gains and losses was ¥135,889,224.44, up 29.36% year-on-year[5] - Operating revenue for the first nine months of 2025 reached CNY 7,399,249,417.11, a 33.92% increase from CNY 5,525,269,718.72 in the same period of 2024[17] - The company’s net profit attributable to shareholders increased by 8.30% to CNY 502,795,315.36, compared to CNY 464,282,441.42 in the prior year[18] - Net profit for the current period was ¥497,227,819.84, representing a 13.5% increase from ¥437,832,028.30 in the previous period[34] - Total comprehensive income for the period reached ¥510,740,865.06, an increase from ¥436,119,121.76 in the previous period, representing a growth of approximately 17.5%[35] - Basic and diluted earnings per share increased to ¥0.9686 from ¥0.9166, reflecting a rise of about 5.5%[35] Assets and Liabilities - Total assets as of September 30, 2025, amounted to ¥20,308,370,195.83, reflecting an 18.61% increase from the end of the previous year[5] - Total liabilities increased by 40.23% to CNY 4,808,491,698.63 as of September 30, 2025, compared to CNY 3,429,090,779.89 at the end of 2024[11] - The total number of common shareholders at the end of the reporting period is 86,399[22] - The company’s equity attributable to shareholders increased to ¥14,563,611,082.99 from ¥13,166,629,133.04, a growth of 10.6%[31] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥729,719,371.57, down 36.65% compared to the previous year[5] - Net cash flow from operating activities decreased by 36.65% to CNY 729,719,371.57, down from CNY 1,151,896,539.29, mainly due to higher customer note repayments[20] - Cash and cash equivalents at the end of the period totaled ¥6,936,401,346.25, up from ¥5,948,120,927.80, marking an increase of about 16.6%[39] - Net cash flow from financing activities was ¥1,160,901,913.82, compared to a net outflow of ¥61,436,976.10 in the previous period, indicating a significant turnaround[38] Investments and Expenses - Investment activities generated a net cash outflow of CNY 1,351,679,812.93, a 71.81% increase in outflow compared to CNY -786,707,112.26 in the previous year[20] - Research and development expenses for the current period were ¥345,070,626.74, an increase from ¥305,745,052.47 in the previous period[34] - The company reported a significant increase in construction in progress, which rose by ¥74,424.46 million, or 368.52%, due to increased investment in the European new materials industry base project[10] Shareholder Information - The largest shareholder, Minmetals Technology Group Co., Ltd., holds 28.52% of shares, totaling 155,230,155 shares[22] - The company plans to raise between RMB 800 million and RMB 1 billion through a private placement to its controlling shareholder, Minmetals Group[26] - The company issued 37,792,894 new shares at a price of RMB 26.46 per share, increasing total shares from 506,500,774 to 544,293,668[26] Other Financial Metrics - The company received government subsidies amounting to ¥20,062,276.25 during the reporting period, contributing to its financial performance[6] - The company’s financial expenses improved by 25.35%, resulting in a net financial income of CNY -55,947,353.35 compared to CNY -74,947,982.42 in the previous year[17] - The company’s other comprehensive income after tax was ¥13,513,045.22, compared to a loss of ¥1,712,906.54 in the previous period[34]

Core Insights - The stock price of Dangsheng Technology increased by 2.04% on October 23, reaching 65.59 CNY per share, with a trading volume of 1.129 billion CNY and a market capitalization of 35.7 billion CNY [1] Financial Performance - For the first half of 2025, Dangsheng Technology reported a revenue of 4.432 billion CNY, representing a year-on-year growth of 25.17%, and a net profit attributable to shareholders of 311 million CNY, up 8.47% year-on-year [2] Shareholder Information - As of June 30, 2025, the number of shareholders of Dangsheng Technology increased to 86,700, with an average of 5,834 circulating shares per person, a decrease of 2.13% from the previous period [2] - The company has distributed a total of 1.265 billion CNY in dividends since its A-share listing, with 821 million CNY distributed over the past three years [3] Institutional Holdings - As of June 30, 2025, the second-largest circulating shareholder is E Fund's ChiNext ETF, holding 10.046 million shares, a decrease of 245,600 shares from the previous period [3] - Southern CSI 500 ETF ranks as the fourth-largest circulating shareholder, increasing its holdings by 790,500 shares to 6.0435 million shares [3]

Core Viewpoint - The report highlights the strong position of the company in the lithium battery cathode material sector, emphasizing its global expansion and strategic positioning in solid-state battery materials [1][2]. Group 1: Company Overview - The company has over 20 years of experience in the cathode materials sector, with a diverse product matrix that includes multi-materials, lithium iron phosphate, sodium battery materials, lithium cobalt oxide, and various precursors [2]. - As of mid-2025, the company will have a lithium battery material production capacity of 74,000 tons, with leading domestic capacity in multi-materials [2]. - Ongoing construction includes an 80,000-ton lithium iron phosphate production line in Panzhihua and a 60,000-ton high-nickel multi-material production line in Finland [2]. Group 2: Technological Strength - The company maintains industry-leading technology across high-nickel, ultra-high-nickel, medium-nickel high-voltage, lithium iron phosphate, lithium cobalt oxide, and next-generation battery materials [2]. - The company has established a comprehensive product layout in solid-state battery materials, with all-solid-state cathode materials already in mass production [2]. Group 3: Global Strategy - The company is advancing its globalization strategy, establishing deep partnerships with high-quality domestic and international clients, including LGES, SKon, Samsung SDI, and Murata [3]. - In the domestic market, high-nickel and medium-nickel high-voltage products are being introduced to major battery manufacturers such as Yiwei Lithium Energy and BYD [3]. - The company is actively expanding its lithium iron phosphate business, forming strong ties with various domestic and international clients in the power, energy storage, and electric vehicle sectors [3]. Group 4: Financial Projections - Revenue projections for 2025, 2026, and 2027 are estimated at 10.299 billion, 13.372 billion, and 15.469 billion yuan, with year-on-year growth rates of 35.6%, 29.8%, and 15.7% respectively [3]. - Net profit attributable to shareholders is projected to be 692 million, 872 million, and 987 million yuan for the same years, with growth rates of 46.6%, 26.0%, and 13.2% respectively [3]. - Earnings per share (EPS) are forecasted at 1.27, 1.60, and 1.81 yuan per share, with corresponding price-to-earnings (PE) ratios of 50.57x, 40.12x, and 35.45x based on the closing price on October 22, 2025 [3].

Core Insights - The China Securities National New State-Owned Enterprises Modern Energy Index has seen a slight decline of 0.13% as of October 22, 2025, with mixed performance among constituent stocks [3] - The "Wind Energy Beijing Declaration 2.0" was released on October 20, 2025, at the International Wind Energy Conference, setting ambitious targets for wind power installation during the 14th and 15th Five-Year Plans [3] Group 1: Market Performance - The top-performing stocks include PetroChina Oilfield Services, which rose by 10.00%, and China Nuclear Engineering, which increased by 4.10% [3] - The recent trading volume for the National Modern Energy ETF was 161.57 million yuan, with a turnover rate of 3.62% [3] - Over the past year, the National Modern Energy ETF has seen an average daily trading volume of 615.35 million yuan [3] Group 2: Policy Changes - Starting November 1, 2025, the 50% VAT refund policy for onshore wind power will be canceled, while the policy for offshore wind power will continue until the end of 2027 [4] - The cancellation of tax incentives for onshore wind power is expected to impact net profits by approximately 19%, creating short-term pressure on profitability [4] Group 3: Industry Outlook - Despite the short-term challenges, the long-term outlook for the wind power industry remains robust due to China's commitment to its "dual carbon" strategy [4] - The wind power supply chain is anticipated to enter a recovery phase, with a focus on leading turbine manufacturers and offshore expansion [4] - The "Two Seas" strategy for wind power equipment is expected to enhance market share and overall profitability for companies in the sector [4] Group 4: Index Composition - As of September 30, 2025, the top ten weighted stocks in the index include Changjiang Electric Power and China Nuclear Power, accounting for 47.72% of the index [6]

Core Viewpoint - The company is making significant progress in the research and production of key materials for solid-state batteries, achieving energy density breakthroughs and substantial production capabilities [1] Group 1: Solid-State Battery Materials - The company has developed all-solid-state cathode materials that match battery energy density exceeding 400 Wh/kg, significantly surpassing current liquid battery levels [1] - The company has achieved batch supply of over 10 tons of all-solid-state cathode materials [1] - Semi-solid-state cathode materials have been applied in fields such as drones, eVTOL, and humanoid robots, with cumulative shipments reaching the kiloton level [1] Group 2: Solid Electrolytes - The company has developed a novel chloroiodide composite sulfide electrolyte, achieving stable production at the ton level [1] - The new electrolyte has received certification and adoption from multiple key downstream customers [1] Group 3: Production Plans and Testing - The company currently has no plans for solid-state battery production but has established a testing line for all-solid-state batteries to verify material performance within battery systems [1] - The testing aims to ensure that products meet downstream customer demands for high safety and high-efficiency solid-state batteries [1]

Market Overview - Major indices in China opened higher, with the Shanghai Composite Index up 0.18%, Shenzhen Component Index up 0.52%, and ChiNext Index up 0.81, led by gains in precious metals and deep earth economy sectors [1] - In the external market, major US indices rose over 1%, with the Dow Jones up 1.12% to 46,706.58 points, S&P 500 up 1.07% to 6,735.13 points, and Nasdaq up 1.37% to 22,990.54 points [3] - Chinese concept stocks also saw collective gains, with the Nasdaq China Golden Dragon Index rising 2.39% [3] Industry Insights - CITIC Securities highlighted the rapid advancement of solid-state battery technology, noting a breakthrough that addresses the solid-solid interface contact issue, which has been a major bottleneck for mass production [4] - The collaboration between Changsheng Technology and Boyuan Co. aims to enhance the supply chain and accelerate the commercialization of sulfide solid-state batteries [4] - Huatai Securities emphasized that internet platform companies are actively seeking commercialization opportunities in their advantageous scenarios, particularly in basic cloud service providers and advertising sectors [5] - CITIC Securities recommended focusing on "small but beautiful" companies in the textile and apparel manufacturing sector, which are showing positive operational changes and potential for valuation re-evaluation [6] - China Galaxy Securities noted a market style shift leading to a recovery in the food and beverage index, with a focus on new consumption trends and companies with solid fundamentals [8]