证券代码：300631 证券简称：久吾高科 公告编号：2025-056 江苏久吾高科技股份有限公司 关于公司部分高级管理人员减持计划完成的公告 公司副总经理王肖虎先生保证向本公司提供的信息内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 2025 年 10 月 13 日，公司收到了副总经理王肖虎先生出具的《股份减持计 划实施结果告知函》，截至本公告披露日，王肖虎先生本次减持计划完成，现将 减持结果公告如下： | 股东名称 | 职务 | 减持方式 | | 减持期间 | | 减持均价 | 减持股 | 减持比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | （元/股） | 数（股） | 例 | | 王肖虎 | 副总经理 | 集中竞价 | 年 2025 | 10 | 月 13 | 35.43 | 189,000 | 0.1511% | | | | 交易 | | 日 | | | | | 一、股东减持情况 二、本次减持前后持股情况 三、其他相关说明 ...

Core Insights - The environmental equipment sector saw a rise of 1.14% on October 13, with Guolin Technology leading the gains [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Environmental Equipment Sector Performance - Guolin Technology (300786) closed at 21.59, up 13.39% with a trading volume of 485,000 shares and a transaction value of 1.022 billion [1] - Huahong Technology (002645) closed at 17.27, up 10.00% with a trading volume of 772,600 shares and a transaction value of 1.281 billion [1] - Jiuwu High-Tech (300631) closed at 35.74, up 6.56% with a trading volume of 177,000 shares and a transaction value of 617 million [1] - Other notable performers include Farsen (000890) up 5.26%, and Juguang Technology (300203) up 4.50% [1] Capital Flow Analysis - The environmental equipment sector experienced a net inflow of 211 million from institutional investors, while retail investors saw a net outflow of 56.76 million [2] - Major stocks like Huahong Technology had a net inflow of 22.9 million from institutional investors, but a net outflow of 98.16 million from retail investors [3] - Guolin Technology had a net inflow of 32.07 million from institutional investors, with a slight outflow from retail investors [3]

Core Viewpoint - The lithium extraction sector in A-shares is experiencing significant growth, with multiple companies showing strong stock performance [2] Company Performance - China Ruilin has previously reached the daily limit increase in stock price - Huayou Cobalt and Ganfeng Lithium have both increased by over 7% - Shengxin Lithium Energy has risen by over 6% - Beijiete and Jiuwu Gaoke have both seen increases of over 5% [2]

Core Insights - The environmental equipment sector saw a rise of 0.92% on October 9, with Jiuwu Gaoke leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Environmental Equipment Sector Performance - Jiuwu Gaoke (300631) closed at 34.21, up 4.24% with a trading volume of 108,100 shares and a transaction value of 366 million [1] - Shengjian Technology (603324) closed at 28.41, up 3.31% with a trading volume of 73,000 shares and a transaction value of 206 million [1] - Xuedilong (002658) closed at 8.13, up 3.17% with a trading volume of 219,500 shares and a transaction value of 177 million [1] - Other notable performers include ST Xianhe (300137) up 2.96%, Longjing Environmental (600388) up 2.72%, and Huahong Technology (002645) up 2.68% [1] Capital Flow Analysis - The environmental equipment sector experienced a net outflow of 17.02 million from institutional investors, while retail investors saw a net outflow of 51.31 million [2] - Conversely, speculative funds recorded a net inflow of 68.33 million [2] Individual Stock Capital Flow - Huahong Technology (002645) had a net inflow of 62.44 million from institutional investors, while it faced a net outflow of 21.82 million from retail investors [3] - Xuedilong (002658) saw a net inflow of 17.14 million from institutional investors, with a net outflow of 24.95 million from retail investors [3] - Shengjian Technology (603324) had a net inflow of 13.68 million from institutional investors, while retail investors experienced a net outflow of 21.17 million [3]

Core Viewpoint - The article highlights the advancements in solid-state battery technology, particularly focusing on the doping modification of existing solid electrolytes to enhance overall performance, which is crucial for the commercialization of solid-state batteries [1][2]. Group 1: Sulfide Route - The introduction of iodine in sulfide solid electrolytes is becoming a significant direction, improving compatibility with lithium metal anodes and suppressing lithium dendrite growth [3][6]. - The ionic conductivity of iodine-doped sulfide electrolytes has reached 10 mS/cm, operating under pressures below 5 MPa, meeting key application demands [5]. - The supply chain risk is highlighted, as each GWh of solid-state battery requires approximately 90 tons of iodine, contrasting with the 10 tons needed for 1 GW of perovskite solar panels [6][7]. Group 2: Oxide Route - The technology iteration in oxide solid electrolytes is shifting from LATP (Lithium Aluminum Titanium Phosphate) to LLZO (Lithium Lanthanum Zirconium Oxide), with LLZO showing superior performance metrics [8][9]. - LATP is favored for its lower cost, while LLZO offers higher ionic conductivity, a larger electrochemical window, and better chemical stability [9][10]. - The supply chain considerations for LLZO are complex, as it relies heavily on rare earth materials, with China dominating the supply of lanthanum but being highly dependent on imports for zirconium [10][11]. Group 3: Mass Production Challenges - The mass production of LLZO faces significant challenges, particularly in achieving "sintering densification" due to lithium volatility during high-temperature processing [15][16]. - Innovative approaches like ultra-fast sintering (UFS) and pressure-assisted methods are being explored to enhance densification while minimizing lithium loss [17][18]. - Companies are also investigating cost-effective methods, such as direct wet coating of electrolyte slurries on electrodes, to streamline production processes [20]. Group 4: Industry Progress - Companies like Dingsheng Technology have established pilot production lines for sulfide solid electrolytes, indicating progress in scalable supply capabilities [4]. - Domestic firms are actively pursuing innovations to address the challenges of solid-state battery commercialization, paving the way for more robust industrial applications [21].

Core Viewpoint - The environmental equipment sector experienced a slight increase of 0.06% on September 24, with Henghe Co., Ltd. leading the gains, while the overall market indices also showed positive performance [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3853.64, up 0.83%, and the Shenzhen Component Index closed at 13356.14, up 1.8% [1]. - The environmental equipment sector saw significant individual stock movements, with Henghe Co., Ltd. rising by 29.98% to a closing price of 32.30 [1]. Group 2: Stock Performance - Key stocks in the environmental equipment sector included: - Henghe Co., Ltd. (32.30, +29.98%, 80,400 shares, 248 million CNY) - Xuedilong (8.27, +6.99%, 578,100 shares, 481 million CNY) - Chuxiu Technology (22.72, +4.41%, 18,400 shares, 41.31 million CNY) [1]. - Other notable performers included Jiuwu Gaoke (+3.86%) and Hengrui Environmental (+3.79%) [1]. Group 3: Capital Flow - The environmental equipment sector saw a net inflow of 129 million CNY from institutional investors, while retail investors experienced a net outflow of 146 million CNY [2]. - The capital flow data indicated that Xuedilong had a net inflow of 87.56 million CNY from institutional investors, despite a net outflow from retail investors [3].

Report Summary 1. Report Industry Investment Rating - No information provided about the industry investment rating in the report. 2. Core View of the Report - The lithium carbonate futures rebounded after hitting a bottom. Although the supply pressure remains as the weekly production reached a record high last week, the demand growth is higher than the supply, leading to inventory reduction. It is expected that it is difficult for lithium carbonate to open a downward space in the short - term [10]. 3. Summary by Relevant Catalogs 3.1. Market Review and Operation Suggestions - The lithium carbonate futures hit a bottom and then rebounded. The main contract dropped to a minimum of 72,360 during the session. All industrial products fell during the session, and lithium carbonate futures followed suit, but it turned positive first driven by downstream point - price purchases at low points. The spot electric carbon price remained flat at 73,850, and the spot still had a slight premium over the futures. The price of Australian ore remained flat at 832.5, and the price of lithium mica remained flat at 1,900. The production loss of plants using externally - purchased lithium spodumene narrowed to 2,759, and the production loss of plants using externally - purchased lithium mica remained flat at 8,521. Although salt plants are currently making losses, it does not affect their production enthusiasm [10]. 3.2. Industry News - On September 22, Chile's economic development agency Corfo submitted a resolution to the Comptroller General's Office (CGR) to approve the modification of the contract for the Atacama Salt Lake project with SQM Salar SpA and the OMA mineral lease contract, extending the contract validity to 2030. It also submitted a new mineral lease contract for the Atacama Salt Lake with Codelco and its subsidiary Minera Tarar SpA, with a contract validity from 2031 to 2060. SQM and Codelco are expected to finalize a partnership for the development of the Atacama Salt Field in northern Chile this year, marking the local's first large - scale entry into lithium production [13]. - Jiuzhou Hi - Tech (300631.SZ) announced that it signed a procurement contract worth 81.5 million yuan (including 13% VAT), with a tax - free amount of 72.1239 million yuan, with SDIC Xinjiang Lithium Industry Co., Ltd. for the "Membrane Treatment System Procurement" project of the expansion and renovation project for comprehensive utilization of old brine lithium extraction from the Lop Nur Salt Lake. The signing of this contract is expected to have a positive impact on the company's future performance [13].

Group 1: Company Announcements - Ganli Pharmaceutical signed a technology transfer and supply agreement with FZ and BIOMM, with a total supply framework agreement amount expected to be no less than 3 billion RMB [1] - Upwind New Materials completed the transfer of 121 million shares, changing its controlling shareholder to Zhiyuan Hengyue, associated with Zhiyuan Robotics [2] - Poly Developments plans to publicly issue corporate bonds not exceeding 15 billion RMB for various purposes including debt repayment and project construction [3] Group 2: Shareholder Actions - Lenovo Holdings reduced its stake in Lakala by 8.0781 million shares, decreasing its ownership from 25.00% to 23.97% [4] - Fenghuo Communication plans to repurchase shares with a budget between 75 million and 150 million RMB, with a maximum repurchase price of 40.53 RMB per share [5] - Hualing Cable intends to acquire control of San Bamboo Intelligent for no more than 270 million RMB to enhance its capabilities in robotics and high-frequency transmission [6] Group 3: Market Developments - Guiguang Network clarified that rumors regarding major collaborations with Huawei Cloud and restructuring with state-owned enterprises are untrue [7] - Dongshan Precision is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international presence [8] - Wolong Nuclear Materials' subsidiary plans to invest up to 1 billion RMB in a new materials project in Suzhou [9] Group 4: Other Corporate Activities - Chao Xun Communication's management completed their share reduction plan, with specific shares sold by board members [10] - Various companies are involved in significant project bids and collaborations, including China Electric Research and others [15]

Group 1 - The company, Jiuwu High-Tech, announced on September 23 that it received a bid notification for the "Comprehensive Utilization and Capacity Expansion Project of Lithium Extraction from the Old Brine of the Lop Nur Salt Lake" from State Investment Xinjiang Lithium Industry Co., Ltd [2] - The company has signed a procurement contract for the membrane treatment system related to the aforementioned project with State Investment Xinjiang Lithium Industry Co., Ltd [2]

Group 1 - The company Jiuwu Gaoke (300631.SZ) has signed a procurement contract with Guotou Xinjiang Lithium Industry Co., Ltd. for the "Robor Lake Salt Lake Old Brine Lithium Extraction Comprehensive Utilization Capacity Expansion and Transformation Project - Membrane Treatment System Procurement" [1] - The total contract price is 81.5 million yuan (including 13% VAT), with a pre-tax amount of 72.1239 million yuan [1] - The signing of this contract is expected to have a positive impact on the company's future performance, and the execution of the contract will not affect the company's operational independence [1]