江苏久吾高科技股份有限公司 Jiangsu Jiuwu Hi-Tech Co.,Ltd. （江苏省南京市浦口区园思路 9 号） 向不特定对象发行可转换公司债券 募集说明书 （修订稿） 保荐人（主承销商） 中国（上海）自由贸易试验区商城路 618 号 二〇二六年三月 证券简称：久吾高科 证券代码：300631 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对申 请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行 人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与 之相反的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由 发行人自行负责。投资者自主判断发行人的投资价值，自主作出投资决策，自 行承担证券依法发行后因发行人经营与收益变化或者证券价格变动引致的投资 风险。 1-1-1 说明书 江苏久吾高科技股份有限公司 向不特定对象发行可转换公司债券募集 重大事项提示 公司特别提醒投资者注意下列重大事项或风险因素，并认真阅读本募集说 明书相关章节。 一、关于本次可转债发行符合发行条件的说明 说明书 江苏久吾高科技股份有限公司 向不 ...

证券代码：300631 证券简称：久吾高科 公告编号：2026-006 江苏久吾高科技股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 江苏久吾高科技股份有限公司（以下简称"公司"）于2026年3月4日收到深 圳证券交易所（以下简称"深交所"）出具的《关于江苏久吾高科技股份有限公 司申请向不特定对象发行可转换公司债券的审核问询函》（审核函〔2026〕020018 号）（以下简称"审核问询函"），深交所发行上市审核中心对公司提交的向不 特定对象发行可转换公司债券的申请文件进行了审核，并形成审核问询问题。 公司按照审核问询函的要求，会同相关中介机构对审核问询函所列问题进行 了逐项落实并作出回复，并根据反馈回复对募集说明书等申请文件的部分内容进 行了相应的补充、更新和修订，具体内容详见公司于同日在巨潮资讯网 （www.cninfo.com.cn）上披露的相关文件。 公司本次向不特定对象发行可转换公司债券事项尚需通过深交所审核，并获 得中国证券监督管理委员会（以下简称"证监会"）作出同意注册的决定后方可 实施。公司本次向不特定对象发行可转换公司债券事项最终 ...

国泰海通证券股份有限公司 关于 江苏久吾高科技股份有限公司 向不特定对象发行可转换公司债券 之 发行保荐书 保荐人（主承销商） 二〇二六年三月 国泰海通证券股份有限公司 关于江苏久吾高科技股份有限公司 向不特定对象发行可转换公司债券之发行保荐书 江苏久吾高科技股份有限公司拟申请向不特定对象发行不超过 30,400.00 万元可转换公司债券并在创业板上市，并已聘请国泰海通证券股份有限公司作为 本次证券发行的保荐人。 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司证券 发行注册管理办法》及《证券发行上市保荐业务管理办法》等有关法律、法规和 中国证券监督管理委员会及深圳证券交易所的相关规定，保荐人及其保荐代表人 诚实守信，勤勉尽责，严格按照依法制订的业务规则、行业执业规范和道德准则 出具本发行保荐书，并保证本发行保荐书的真实性、准确性和完整性。 （本发行保荐书中如无特别说明，相关用语具有与《江苏久吾高科技股份有 限公司向不特定对象发行可转换公司债券募集说明书（修订稿）》中相同的含义。 本发行保荐书中部分合计数与各加数直接相加之和在尾数上有差异，或部分比例 指标与相关数值直接计算的结果在尾数上有差异， ...

北京市竞天公诚律师事务所 关于江苏久吾高科技股份有限公司 向不特定对象发行可转换公司债券之 补充法律意见书（一） 二〇二六年三月 北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 34th Floor, Tower 3, China Central Place, 77 Jianguo Road, Chaoyang District, Beijing, China 电话/Tel: （86-10） 5809-1000 传真 /Fax: （86-10） 5809-1100 网址/Website: http:// www.jingtian.com 中国北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮政编码 100025 电话：（86-10）5809 1000 传真：（86-10）5809 1100 北京市竞天公诚律师事务所 关于江苏久吾高科技股份有限公司 向不特定对象发行可转换公司债券之 补充法律意见书（一） 致：江苏久吾高科技股份有限公司 北京市竞天公诚律师事务所（以下称"本所"）作为在中国取得律师执业资格 的律师事务所，根据《中华人民共和国证券法》（以下称"《证券法》"）、《中华 人民 ...

向不特定对象发行可转换公司债券 之 上市保荐书 国泰海通证券股份有限公司 关于 江苏久吾高科技股份有限公司 保荐人（主承销商） （中国（上海）自由贸易试验区商城路 618 号） 二〇二六年三月 | 声 明 | | --- | | 一、发行人基本情况 | | 二、本次发行情况 . | | 三、保荐代表人、项目协办人及项目组其他成员情况……………………………………32 | | 四、保荐人与发行人的关联关系、保荐人及其保荐代表人是否存在可能影响 | | E履行保荐职责情形的说明 | | 五、保荐人承诺事项 | | 六、本次证券发行上市履行的决策程序 | | 七、本次向不特定对象发行可转换公司债券符合规定 . | | 八、保荐人关于发行人持续督导工作的安排 . | | 九、保荐人及保荐代表人联系方式 . | | 十、保荐人认为应当说明的其他事项 | | 十一、保荐人对本次证券发行上市的保荐结论 - | 声 明 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）及其保 荐代表人已根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共 和国证券法》（以下简称"《证券法》"）、《上市公司证券发行注册管理 ...

关于江苏久吾高科技股份有限公司 向不特定对象发行可转换公司债券申请文 件的审核问询函的回复 保荐人（主承销商） （中国（上海）自由贸易试验区商城路 618 号） 二〇二六年三月 关于江苏久吾高科技股份有限公司审核问询函的回复 深圳证券交易所： 贵所于 2026 年 3 月 4 日出具的《关于江苏久吾高科技股份有限公司申请向 不特定对象发行可转换公司债券的审核问询函》（审核函〔2026〕020018 号）（以 下简称"审核问询函"）已收悉。 江苏久吾高科技股份有限公司（以下简称"久吾高科"、"公司"、"发行 人"）会同国泰海通证券股份有限公司（以下简称"保荐人"、"国泰海通"）、 中汇会计师事务所（特殊普通合伙）（以下简称"会计师"）、北京市竞天公诚律 师事务所（以下简称"发行人律师"）等中介机构，本着勤勉尽责、诚实守信的 原则，就审核问询函所提问题逐项进行认真讨论、核查与落实，并逐项进行回复 说明。具体回复内容附后。 除另有说明外，本回复中使用的释义或简称与《江苏久吾高科技股份有限公 司向不特定对象发行可转换公司债券募集说明书（修订稿）》（以下简称"募集说 明书"）中的含义相同。 本反馈意见回复中的字体代表以 ...

关于江苏久吾高科技股份有限公司 申请向不特定对象发行可转换公司债券审核问询函 有关财务问题回复的专项说明 中国杭州市钱江新城新业路 8 号 UDC 时代大厦 A 座 5-8 层、12 层、23 层 www.zhcpa.cn Floors5-8,12and23,Block A,UDC Times Building,No.8 Xinye Road，Qianjiang New City,Hangzhou Tel.0571-88879999 Fax.0571-88879000 关于江苏久吾高科技股份有限公司 申请向不特定对象发行可转换公司债券审核问询函 有关财务问题回复的专项说明 中汇会函[2026]2238 号 深圳证券交易所： 根据贵所 2026 年 3 月 4 日出具的《关于江苏久吾高科技股份有限公司申请 向不特定对象发行可转换公司债券的审核问询函》(审核函〔2026〕020018 号) (以 下简称"问询函")的要求，我们作为江苏久吾高科技股份有限公司(以下简称"公 司""久吾高科"或"发行人") 申请向不特定对象发行可转换公司债券的申报 会计师，对问询函有关财务问题进行了认真分析，并补充实施了核查程序。现就 ...

Core Viewpoint - The article discusses the latest technological advancements and industry dynamics in solid-state batteries, highlighting the importance of solid electrolytes as the core component for commercialization and scalability of solid-state batteries [2][5]. Summary by Sections Solid Electrolyte Technology Routes - There are four main technological routes for solid electrolytes, each with its advantages and disadvantages, driving the iterative development of solid-state battery technology [5]. 1. **Polymer/Composite Polymer Route** - Polymer electrolytes offer good flexibility and compatibility with existing lithium battery production processes, but they typically require heating above 60°C to achieve adequate ionic conductivity. The focus is on composite polymer electrolytes that incorporate nano-fillers to enhance performance [6]. 2. **Oxide Route** - Oxide electrolytes have high ionic conductivity and good chemical stability, but they are hard and brittle, leading to high interface resistance and manufacturing challenges. Typical materials include LLZO garnet and perovskite structures [7]. 3. **Sulfide Route** - Sulfide electrolytes exhibit the highest ionic conductivity among solid electrolytes and are the current mainstream direction for commercialization. However, they are highly sensitive to moisture, producing toxic hydrogen sulfide gas, which raises production costs significantly [8]. 4. **Halide Route** - The halide route is a newer approach that balances the properties of sulfides and oxides, offering higher ionic conductivity than oxides and better stability against moisture than sulfides. However, its long-term performance and cost advantages are still under evaluation [9]. Industry Landscape - As of 2025, over 75 companies in China are focusing on solid electrolyte production, with planned total capacities exceeding 100,000 tons and some already achieving production levels in the tens of tons. However, the industry is still in the capacity ramp-up phase, with many companies transitioning from laboratory to pilot production [9]. Representative Companies in Solid Electrolyte Production - **Zhongke Gonen**: Focuses on sulfide solid electrolytes and has established a production base for high-performance materials [10]. - **Dengsheng Technology**: A leading company in lithium-ion battery materials, currently developing both oxide and sulfide solid electrolytes [11]. - **Enjie Co., Ltd.**: A global leader in lithium battery separators, has developed sulfide solid electrolytes for validation with major battery manufacturers [12]. - **Shanghai Xiba**: Their solid electrolyte products are undergoing testing with multiple manufacturers, with some entering the product validation phase [13]. - **Tianqi Materials**: Announced a solid electrolyte development strategy in 2024, focusing on sulfide lithium routes [14]. - **Yanyi New Materials**: Achieved mass production of sulfide solid electrolytes with a designed capacity of 500 tons per year [15]. - **Xiamen Guna New Energy**: Engaged in various solid electrolyte technologies, with a focus on phosphate solid electrolytes [16]. - **Chengdu Yixuan**: Plans to produce high-purity solid electrolyte materials with a capacity of 80 tons per year by March 2026 [17]. - **Shanghai Yili**: Established a research and pilot base for sulfide solid-state batteries and is building a production base for solid electrolytes [18]. - **Ruigu New Materials**: Focuses on high-performance sulfide solid electrolytes, with a production line expected to be operational by June 2025 [19]. - **Shenzhen Xinyuanbang**: Established a complete R&D system for solid electrolytes, currently producing about 30 tons per month [20]. - **Qingtao Energy**: Launched a solid electrolyte production line project with a total investment of 1 billion yuan [21]. - **Purtai**: Focuses on solid electrolyte development and has completed pilot testing for LATP and LLZO [22]. - **Hefei Qianrui**: Plans to produce 10,000 tons of sulfide solid electrolytes annually, with specific product targets [23]. - **Xingyuan Materials**: A leader in lithium battery separators, has begun production of oxide electrolytes and is in the early stages for sulfide and polymer electrolytes [24]. - **Ruiyi New Materials**: Established a complete supply chain for solid-state battery materials, with a capacity of over 1,000 tons [25]. - **Xiangxiang Fuqi New Materials**: Plans to produce 1,000 tons of high-performance solid electrolyte materials annually [26]. - **Foshan Technology**: Invested 113 million yuan to build a pilot production line for battery-grade lithium sulfide [27]. - **Hefei Yinshi New Materials**: Focuses on high-performance sulfide solid electrolytes and has developed several core patents [28]. - **Jiuwu High-Tech**: Developed proprietary processes for oxide solid electrolytes, achieving stable small-batch deliveries [29]. - **Taizhou Shanneng Technology**: Specializes in battery materials with a focus on lithium titanate and LATP solid electrolytes [30]. - **Shanghai Yuancheng Hangneng**: Plans to complete equipment debugging and production by the end of 2026 [31]. - **Zhidongli**: Transitioning to focus on new energy, with a new production base for high-purity lithium sulfide [32]. - **Nanke Tianrun**: Engaged in the R&D and industrialization of solid-state battery materials, focusing on key materials [33].

Core Viewpoint - The rare earth market is experiencing mixed price movements, with some products increasing in price while others are declining, indicating a cautious market sentiment among downstream production enterprises [1] Price Movements - Praseodymium and neodymium oxide averages at 886,100 CNY/ton, up by 3,200 CNY/ton - Praseodymium and neodymium metal averages at 1,081,000 CNY/ton, up by 11,500 CNY/ton - Dysprosium oxide averages at 1,612,700 CNY/ton, down by 11,800 CNY/ton - Terbium oxide averages at 6,494,500 CNY/ton, up by 17,200 CNY/ton [1] Market Dynamics - Upstream suppliers are maintaining high price quotes, particularly for praseodymium and neodymium products, which are on an upward trend - As enterprises gradually resume operations, market inquiries are increasing, leading to improved actual transaction conditions - However, downstream production enterprises have sufficient inventory, resulting in cautious purchasing behavior [1] Trading Activity - After a significant price increase in mid-heavy rare earths post-New Year, recent price declines are noted due to a lack of transaction support - Overall, as production enterprises return to normal operations, purchasing and trading activities are expected to gradually increase, although the current market remains predominantly cautious [1] A-Share Market Performance - A-share market performance for rare earth permanent magnet concept stocks on February 26, 2026: - Youyan Powder Materials (688456) latest price: 68.47 CNY, change: +5.84%, turnover: 446 million CNY - Jiuwu High-Tech (300631) latest price: 31.81 CNY, change: +4.23%, turnover: 599 million CNY - Zhangguang Co. (301092) latest price: 41.18 CNY, change: +3.21%, turnover: 338 million CNY - Longhua Technology (300263) latest price: 12.33 CNY, change: +3.01%, turnover: 1243 million CNY - Steel Research Nack (300797) latest price: 18.51 CNY, change: +1.98%, turnover: 159 million CNY [1]

Core Viewpoint - Company Jiuwu High-Tech has received notification from the Shenzhen Stock Exchange regarding the acceptance of its application for issuing convertible bonds to unspecified investors [1] Group 1 - The Shenzhen Stock Exchange has verified that the application documents submitted by Jiuwu High-Tech for issuing convertible bonds are complete and has decided to accept the application [1] - The issuance of convertible bonds is subject to further review by the Shenzhen Stock Exchange and requires approval from the China Securities Regulatory Commission before implementation [1]