当升科技（300073）(300073.SZ)披露2025年度业绩预告，公司预计归属于上市公司股东的净利润6亿元 至6.5亿元，同比增长27.16%至37.76%;扣除非经常性损益后的净利润4.8亿元至5.3亿元，同比增长 76.03%至94.36%。 ...

Core Viewpoint - The company anticipates a net profit attributable to shareholders of 600 million to 650 million yuan for the year 2025, representing a year-on-year growth of 27.16% to 37.76% [1] - The net profit after deducting non-recurring gains and losses is expected to be between 480 million to 530 million yuan, indicating a significant year-on-year increase of 76.03% to 94.36% [1] Group 1 - The company is recognized as a global leader in the new energy cathode materials industry [1] - The company has effectively seized development opportunities in the power, energy storage, and consumer markets [1] - The company achieved substantial growth in product sales year-on-year due to its comprehensive product layout and core technological advantages [1]

证券代码：300073 证券简称：当升科技 公告编号：2026-003 北京当升材料科技股份有限公司 2025 年度业绩预告 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。 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日。 2、业绩预告情况：自愿性业绩预告 （1）以区间数进行业绩预告的 单位：万元 本次业绩预告相关数据为公司财务部门初步测算的结果，未经会计师事务所审计。公 司就业绩预告有关事项已与会计师事务所进行预沟通，公司与会计师事务所关于本次业绩 预告事项不存在分歧。 1 三、业绩变动原因说明 2025 年公司预计实现归属于母公司的净利润 60,000 万元-65,000 万元，较上年同期 增长 27.16%-37.76%，预计实现扣除非经常性损益后的净利润 48,000 万元-53,000 万元， 较上年同期增长 76.03%-94.36%。 报告期内，公司作为全球新能源正极材料行业的技术引领者，精准把握动力、储能及 消费市场发展机遇，凭借全方位产品布局与核心技术优势实现经营业绩稳步攀升，产品销 ...

Group 1: Fund Analysis - The public FOF fund scale increased in Q4 2025, with a new issuance scale of 458.54 billion yuan, primarily in bond-type funds [6][7] - The proportion of positive returns for FOF was 49%, with the top performer being CITIC Securities' selected fund [6][8] - Fund managers are optimistic about the market outlook, focusing on structural opportunities with technology and cyclical sectors as the main themes [6][11] Group 2: Electric Vehicle Market - The European electric vehicle market is entering a new phase, with a projected penetration rate of 29% in 2025 and 35% in 2026 due to supply-side drivers and supportive policies [14][15] - The introduction of affordable electric models by European automakers is expected to stimulate consumer demand significantly [15] - Chinese lithium battery companies are positioned to capitalize on the growth of the European market, enhancing their competitive landscape [14][16] Group 3: Construction and Decoration Industry - The construction state-owned enterprises are expected to benefit from strategic and professional restructuring policies initiated by the state [18][19] - The market share of major construction state-owned enterprises remains relatively low, with significant competition and operational pressure evident [19][20] - Recommendations include companies like China Communications Construction, China Railway, and China Chemical, which are likely to enhance their competitiveness through restructuring [21] Group 4: Beauty and Personal Care - The beauty industry in China is transitioning from incremental expansion to competitive positioning, with domestic brands gaining market share [23][24] - The company aims to achieve 30 billion yuan in sales by 2030, driven by research and development, brand expansion, and global operations [25] - The application of AI in production and marketing is expected to enhance operational efficiency and support long-term growth [25] Group 5: Basic Chemicals - The price of hafnium has surged by 21.64% since the beginning of 2026, driven by high demand in sectors like semiconductors and aerospace [27][28] - The company is advancing its zirconium-hafnium separation project, which is expected to significantly contribute to future earnings [29] - Hafnium's unique properties make it essential in high-tech applications, indicating strong future demand [28] Group 6: Electronics - The company is set to benefit from the high demand for PCB and packaging substrates, with projected net profits for 2025 expected to increase by 68% to 78% [31][32] - The expansion of production capacity is ongoing, with new facilities in Thailand and South China expected to enhance growth potential [33] - The company is recognized as a leading provider of electronic circuit technology, with a positive outlook for future performance [33]

2026 年 01 月 26 日 行业周报 看好/维持 电力设备及新能源 电力设备及新能源 新能源+AI 周报（第 40 期 20260118-20260124）：储能量价齐升， 太空、AI 主题延续 ◼ 走势比较 | 电站设备Ⅱ | 无评级 | | --- | --- | | 电气设备 | 无评级 | | 电源设备 | 无评级 | | 新 能 源 动 力 | 无评级 | | 系统 | | ◼ 推荐公司及评级 相关研究报告 <<【太平洋新能源】新能源+AI 周报 （第 39 期 20260111-20260117）：聚 焦涨价环节、AI+>>--2026-01-22 <<【太平洋新能源】新能源+AI 周报 （第 38 期 20251228-20260110）：储 能、AI+有望超预期，短期"太空光伏" 升温>>--2026-01-11 <<光伏行业 2026 年投资策略：反内 卷加速供需重塑，重视新技术、新场 景>>--2026-01-07 证券分析师：刘强 电话： E-MAIL：liuqiang@tpyzq.com 分析师登记编号：S1190522080001 证券分析师：钟欣材 电话： 报告摘要 2、碳酸 ...

Core Viewpoint - The LMFP (Lithium Manganese Iron Phosphate) market is poised for explosive growth in 2025, with a projected shipment increase of 275% year-on-year, despite current production capacity exceeding actual demand. The expansion efforts by leading companies indicate a strong belief in the material's potential [2][11]. Group 1: Market Dynamics and Growth - In 2025, the domestic LMFP shipment volume is expected to exceed 30,000 tons, marking a significant increase from previous years, driven by technological advancements and performance improvements [2][11]. - Major companies like Hunan YN and others are investing heavily in LMFP production, with plans to significantly increase capacity, indicating confidence in future demand [1][10]. - The LMFP market is projected to reach 80,000 tons by 2026, with expectations of further growth to 500,000 tons by 2030, translating to a market size exceeding 20 billion yuan [11][14]. Group 2: Technological Advancements - Companies have made significant breakthroughs in LMFP technology, addressing previous performance limitations such as low density and poor cycle life, which have historically hindered its adoption [4][5]. - Innovations like the second-generation LMFP battery from Guoxuan High-Tech have improved energy density and charging capabilities, enhancing the battery's appeal for electric vehicles [5][6]. - The introduction of new manufacturing processes, such as solid-phase synthesis, has improved the material's conductivity and stability, further supporting its commercialization [5][6]. Group 3: Application and Market Penetration - LMFP batteries are now being utilized in various applications, including passenger and commercial vehicles, with significant adoption rates in the light vehicle sector [6][7]. - The low-temperature performance of LMFP batteries allows for broader application, particularly in colder climates, enhancing their competitiveness in the market [9][10]. - Companies like EVE Energy and Guoxuan High-Tech are successfully integrating LMFP materials into their product lines, indicating a shift towards more advanced battery technologies [7][9]. Group 4: Cost and Supply Chain Considerations - The cost advantages of LMFP, due to the abundance of manganese compared to nickel and cobalt, allow for a 10%-15% reduction in battery costs when mixed with high-nickel materials [10][15]. - The rapid expansion of LMFP production capabilities, with over 30 companies involved, is creating a competitive landscape that benefits downstream battery manufacturers [10][15]. - The supply chain for manganese is becoming increasingly critical, as demand for LMFP rises, necessitating strategic partnerships for resource acquisition [17].

Core Viewpoint - The company, as a leader in lithium battery cathode materials, is expanding its presence in the solid-state battery market due to its high energy density and safety advantages, which are leading to increased application scenarios [1] Company Summary - The company has systematically and proactively laid out solid-state lithium battery-related materials, achieving industry-leading technical performance indicators [1] - The company has successfully achieved batch supply of over 20 tons of cathode materials for all-solid-state batteries [1] - Solid electrolyte products have entered batch verification with leading customers, indicating progress in product development and market acceptance [1] Industry Summary - The solid-state battery market is expected to mature further, which will positively impact the company's performance [1]

证券日报网讯1月23日，当升科技（300073）在互动平台回答投资者提问时表示，股价受宏观经济、行 业政策、市场情绪等多方面因素影响，公司高度重视市值管理工作，努力提升公司内在价值和长期竞争 力，以稳健的业绩回报广大投资者。 ...

Group 1 - The Finnish government subsidy received by the company's subsidiary is based on the efficient advancement and significant achievements of the European new materials industry base phase one project [2] - This subsidy is recognition of the project's construction results and reflects the Finnish government's active guidance and strong support for the company's European project development [2] - The company plans to accelerate the construction and operation of the project to ensure it reaches production capacity on schedule, which will enhance its market share by responding quickly to the localization supply and capacity needs of international major clients in the European electric vehicle industry chain [2]

Group 1: Company Overview - Dongsheng Technology's stock price increased by 5.22% to 64.05 CNY per share, with a trading volume of 1.601 billion CNY and a turnover rate of 5.04%, resulting in a total market capitalization of 34.862 billion CNY [1] - The company, established on June 3, 1998, and listed on April 27, 2010, is located in Fengtai District, Beijing, and specializes in the research, production, and sales of lithium-ion battery cathode materials and high-end intelligent equipment [1] - The revenue composition of Dongsheng Technology includes: diversified 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] Group 2: Shareholder Information - Southern Fund's Southern CSI 500 ETF (510500) is among the top ten circulating shareholders of Dongsheng Technology, having increased its holdings by 304,300 shares in the third quarter, totaling 6.3478 million shares, which represents 1.25% of the circulating shares [2] - The estimated floating profit from this investment is approximately 20.1862 million CNY [2] - The Southern CSI 500 ETF was established on February 6, 2013, with a current scale of 144.69 billion CNY, yielding 12.39% year-to-date and 52.22% over the past year [2] Group 3: Fund Performance - The Southern New Energy Industry Trend Mixed A Fund (012354) holds 379,200 shares of Dongsheng Technology, accounting for 2.81% of the fund's net value, making it the ninth-largest holding [4] - The estimated floating profit from this position is around 1.2059 million CNY [4] - The Southern New Energy Industry Trend Mixed A Fund was established on August 25, 2021, with a current scale of 672 million CNY, showing a year-to-date return of 5.41% and a one-year return of 28.62% [4]