Meeting Information - The company will hold its first extraordinary general meeting of shareholders in 2026 on January 21, 2026, at 14:30 [1] - The meeting will be conducted both in-person and via online voting [3] - The record date for shareholders to attend the meeting is January 12, 2026 [4] Voting Details - Online voting will be available on January 21, 2026, from 9:15 to 9:25, 9:30 to 11:30, and 13:00 to 15:00 [2][21] - Shareholders can participate in voting through the Shenzhen Stock Exchange trading system and the internet voting system [13][23] Registration Process - Registration for the meeting will take place on January 12, 2026, from 9:30 to 11:30 and 14:00 to 17:00 [10] - Shareholders must provide necessary documentation for registration, including identification and shareholder account details [12] Meeting Agenda - The agenda for the meeting includes proposals that have been approved by the company's board of directors [8][9] Contact Information - For inquiries, shareholders can contact Xu Huawai at 0816-6800673 or via email at fljgzqb@fulinpm.com [14]

Group 1 - The company, Fulin Precision, announced that it will hold its first extraordinary general meeting of shareholders on January 21, 2026 [2]

Group 1 - The core transaction on January 15 involved a block trade of 615,500 shares of Fulin Precision, with a total transaction value of 12.5193 million yuan, at a price of 20.34 yuan per share, executed between institutional special seats [2][3] - Over the past three months, Fulin Precision has recorded a total of two block trades, amounting to a combined transaction value of 19.5345 million yuan [2] - The closing price of Fulin Precision on the day of the transaction was 20.34 yuan, reflecting an increase of 0.84%, with a daily turnover rate of 7.26% and a total trading volume of 2.545 billion yuan [2] Group 2 - The latest margin financing balance for Fulin Precision is 1.429 billion yuan, which has increased by 36.7731 million yuan over the past five days, representing a growth rate of 2.64% [3] - Fulin Precision was established on November 10, 1997, with a registered capital of 1.70976 billion yuan [3]

Core Viewpoint - The company plans to introduce CATL as a strategic investor through a private placement of 233 million shares, aiming to raise a total of 3.175 billion yuan for five key projects [1][2] Group 1: Strategic Investment and Fundraising - The company will issue 233 million shares to CATL, expecting to raise 3.175 billion yuan, with net proceeds focused on five core projects [1] - The five projects include a 500,000-ton high-end lithium iron phosphate project for energy storage, key components for electric drive systems in new energy vehicles, robotic integration projects, intelligent chassis control systems, and power systems for low-altitude aircraft [1] Group 2: Adjustment of Cooperation Model - The company is adjusting its cooperation model from project-level equity cooperation to a comprehensive strategic partnership at the listed company level due to the introduction of CATL [1] - The board of directors has approved the termination of a major asset restructuring plan related to the subsidiary Jiangxi Shenghua, indicating a shift in strategy [1] Group 3: Strategic Significance of the Partnership - The partnership with CATL is expected to enhance the company's competitive advantage in high-density lithium iron phosphate production and improve profitability [2] - The collaboration will deepen the synergy in the supply chain, leveraging CATL's resources to accelerate market expansion in emerging sectors such as electric drive systems, energy storage, robotics, and low-altitude economy [2] - CATL will assist the company in future investments, mergers, and ecosystem collaborations to achieve rapid business growth and enhance overall value [2]

Investment Rating - The report assigns an "Accumulate-A" investment rating to the company [6]. Core Views - The company plans to issue 3.175 billion yuan in stock to introduce CATL as a strategic investor, aiming to strengthen its partnership and enhance its competitive edge in lithium battery cathode materials and intelligent control components [1][2]. - The company has shifted from a major asset restructuring plan to a comprehensive strategic cooperation involving equity and business collaboration with CATL, with funds raised to support various projects including high-end energy storage lithium iron phosphate and key components for electric vehicle drive systems [2]. - The report highlights the importance of maintaining a healthy and orderly development in the lithium iron phosphate materials industry, emphasizing the need for self-discipline and innovation to avoid vicious competition [3]. - The company is actively expanding its robotics business, collaborating with leading firms like Zhiyuan Robotics to develop humanoid robot applications [4]. Financial Projections - Revenue growth is projected at 79%, 50%, and 33% for 2025, 2026, and 2027 respectively, with net profit growth expected at 40%, 35%, and 38% for the same years [5][9]. - The company’s estimated earnings per share (EPS) for 2026 is projected to be 0.58 yuan, with a target price of 23.2 yuan based on a price-to-earnings (PE) ratio of 40 times [8][9]. - The financial forecast indicates a significant increase in revenue from 5.761 billion yuan in 2023 to 30.237 billion yuan by 2027, with net profit turning from a loss of 543 million yuan in 2023 to a profit of 1.371 billion yuan in 2027 [9][10].

证券代码：300432 证券简称：富临精工 公告编号：2026-015 富临精工股份有限公司 关于召开2026年第一次临时股东会的提示性公告 6、会议的股权登记日：2026年1月12日 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。 富临精工股份有限公司(以下简称"公司") 第五届董事会第二十九次会议 定于2026年1月21日（星期三）下午14:30在公司会议室召开公司2026年第一次临 时股东会。公司已于2026年1月6日在巨潮资讯网（www.cninfo.com.cn）上发布 了《关于召开2026年第一次临时股东会的通知》（公告编号：2026-004），现将 会议有关事项再次提示如下： 一、召开会议的基本情况 1、股东会届次：2026年第一次临时股东会 2、股东会的召集人：董事会 3、会议召开的合法、合规性：本次股东会由公司第五届董事会第二十九次 会议审议通过，决定召开公司2026年第一次临时股东会，本次股东会的召开符合 有关法律、行政法规、部门规章、规范性文件、深交所业务规则和《公司章程》 等规定。 4、会议时间： （1）现场会议时间：2026年1月21 ...

Core Viewpoint - The termination of the restructuring of Fulian Precision Engineering strengthens the company's position as a leader in lithium iron phosphate, with a strategic partnership formed with CATL [1] Group 1: Strategic Developments - CATL's investment will accelerate the construction of high-pressure, high-density lithium iron phosphate production capacity, creating a systematic and scalable competitive advantage for the company [1] - The partnership will leverage CATL's resources to enhance the company's business expansion in electric drive systems for new energy vehicles, energy storage thermal management, and robotics [1] Group 2: Financial Projections - The company is expected to increase its shareholding in the lithium iron phosphate subsidiary by 2026, leading to a rapid increase in the penetration rate of high-pressure, high-density lithium iron phosphate [1] - The net profit forecast for 2025-2027 has been revised upwards from 540 million, 1 billion, and 1.37 billion to 540 million, 2 billion, and 2.8 billion, representing growth rates of 37%, 273%, and 36% respectively [1] - Corresponding price-to-earnings ratios are projected to be 59, 16, and 12 times for the years 2025, 2026, and 2027 [1]

Group 1 - The core viewpoint of the news highlights the strong performance of the battery sector, particularly the solid-state battery technology, which is expected to see significant advancements and applications by 2028 [1][2] - The China Securities Battery Theme Index has risen by 1.61%, with notable increases in stocks such as Weixin Materials (up 8.92%) and Xiamen Tungsten (up 7.99%) [1] - The EIA reports a projected increase in wholesale electricity prices in the U.S., with a 23% rise in 2025 and an additional 8.5% in 2026, indicating a growing demand for energy solutions [1] Group 2 - Tianfeng Securities forecasts that the demand for power and energy storage batteries will reach 1,872 GWh in 2025 and 2,236 GWh in 2026, representing year-on-year increases of 45% and 25% respectively [2] - The top ten weighted stocks in the China Securities Battery Theme Index account for 51.77% of the index, with leading companies including CATL and Sungrow Power [2] - The solid-state battery production line and supply chain establishment are expected to be critical in 2026, with equipment and core materials showing significant growth potential [1]

Core Viewpoint - The company, Fulin Precision, is set to issue 233 million shares to raise a total of 3.175 billion yuan, with the funds aimed at enhancing its production capabilities in high-end lithium iron phosphate for energy storage and other key projects, while also optimizing its capital structure and risk resilience [2]. Group 1 - The introduction of CATL as a strategic investor will deepen the collaboration along the industrial chain, enhancing the company's competitive edge in lithium battery materials and smart control components [2][4]. - The company has established a stable partnership with CATL, becoming a significant supplier of lithium iron phosphate, and has received multiple large orders from CATL, which is expected to increase as market demand for high-density lithium iron phosphate products grows [3]. - The collaboration will focus on joint research and development of next-generation high-density lithium iron phosphate materials, ensuring both companies maintain a technological leadership in the battery market [3][4]. Group 2 - The strategic partnership with CATL will enable the company to leverage CATL's extensive resources in the electric vehicle industry, facilitating cooperation in various sectors including technology, market, and project financing [4]. - The company aims to explore additional business opportunities with CATL, enhancing its operational capabilities and global business collaboration [4].

Investment Rating - The investment rating for the company is "Buy" [1] Core Insights - The termination of the Shenghua restructuring strengthens the company's position as a leader in iron lithium batteries, with a comprehensive strategic partnership established with CATL [8] - The company plans to issue 230 million shares at a price of 13.62 yuan per share, raising 3.175 billion yuan, with CATL acquiring a 12% stake [8] - The company is expected to accelerate the construction of high-density lithium iron phosphate capacity, enhancing its competitive advantage in the industry [8] - The company anticipates a significant increase in production capacity, reaching 800,000 tons by the end of 2026, with a market share expected to rise rapidly [8] Financial Projections - Total revenue is projected to grow from 5,761 million yuan in 2023 to 57,074 million yuan in 2027, with a compound annual growth rate (CAGR) of approximately 39.90% [1] - The net profit attributable to shareholders is expected to increase from a loss of 542.73 million yuan in 2023 to a profit of 2,761.42 million yuan in 2027, reflecting a significant turnaround [1] - The earnings per share (EPS) is forecasted to rise from -0.32 yuan in 2023 to 1.62 yuan in 2027 [1] Market Data - The closing price of the stock is 18.69 yuan, with a market capitalization of approximately 31.96 billion yuan [5] - The price-to-earnings (P/E) ratio is projected to decrease from 80.54 in 2024 to 11.57 in 2027, indicating improved profitability [1][9] Operational Highlights - The company is actively expanding its robotics business and has established partnerships with major automotive clients, aiming to enhance its product offerings in the electric drive system sector [8] - The company is also venturing into the low-altitude aircraft industry, with plans to produce 8,000 units per year of key components for power systems [8]