转自：前瞻产业研究院 以下数据及分析来自于前瞻产业研究院石墨负极材料行业研究小组发布的《中国锂电池石墨负极材料行 业发展前景预测与投资战略规划分析报告》 石墨负极材料行业主要上市公司：贝特瑞(920185);杉杉股份(600884);璞泰来(603659);翔丰华(300890);尚太 科技(001301);国民技术(300077);中科电气(300035);科达制造(600499)等 行业概况 1、定义 石墨(Graphite)，是碳的一种同素异形体，具有耐高温、抗腐蚀、导电、导热等性能，是锂离子电池中一 种重要的负极材料。 根据原材料的来源分，石墨负极材料可分为天然石墨负极材料和人造石墨负极材料两大类。二者在性 能、成本和应用场景上具有一定的差异。 | 方面/种类 | 天然石墨负极材料 | 人造石墨负极材料 | | --- | --- | --- | | 原材料 | 天然石墨矿(如鳞片石墨) | 石油焦、针状焦等碳材料高温石墨化制成 | | 核心优势 | 比容量高(约 360mAh/g)、成本低 | 循环稳定性好、体积膨胀率低(<10%) | | 主要缺点 | 循环寿命较短、需要包覆改性 | 生产成本高、 ...

资料显示，上海市翔丰华科技股份有限公司位于上海市宝山区萧云路635弄11号(A7栋)，成立日期2009 年6月12日，上市日期2020年9月17日，公司主营业务涉及锂电池负极材料的研发、生产和销售。主营业 务收入构成为：负极材料99.50%，其他(补充)0.50%。 翔丰华所属申万行业为：电力设备-电池-电池化学品。所属概念板块包括：石墨烯、储能、钠电池、固 态电池、新材料等。 12月1日，翔丰华盘中下跌2.03%，截至10:39，报31.92元/股，成交1.13亿元，换手率3.19%，总市值 38.00亿元。 资金流向方面，主力资金净流出572.83万元，特大单买入0.00元，占比0.00%，卖出480.61万元，占比 4.27%；大单买入2054.96万元，占比18.27%，卖出2147.18万元，占比19.09%。 翔丰华今年以来股价涨5.49%，近5个交易日涨1.04%，近20日跌11.90%，近60日涨3.13%。 责任编辑：小浪快报 截至9月30日，翔丰华股东户数2.43万，较上期增加7.08%；人均流通股4481股，较上期减少6.49%。 2025年1月-9月，翔丰华实现营业收入11.31亿元， ...

Group 1 - The core viewpoint of the news is that Xiangfenghua's stock has shown fluctuations in price and trading volume, with a current market value of 3.883 billion yuan and a year-to-date price increase of 7.80% [1] - As of November 28, the stock price increased by 2.07% to 32.62 yuan per share, with a trading volume of 64.54 million yuan and a turnover rate of 1.84% [1] - The company has a main business focus on the research, production, and sales of lithium battery anode materials, with 99.50% of its revenue coming from this segment [1] Group 2 - For the period from January to September 2025, Xiangfenghua achieved operating revenue of 1.131 billion yuan, representing a year-on-year growth of 8.16%, while the net profit attributable to shareholders decreased by 64.64% to 19.9475 million yuan [1] - The company has distributed a total of 45.0021 million yuan in dividends since its A-share listing, with 35.0021 million yuan distributed over the past three years [2] - As of September 30, the number of shareholders increased by 7.08% to 24,300, with an average of 4,481 circulating shares per person, a decrease of 6.49% [1]

Group 1 - The core viewpoint of the news is that Xiangfenghua's stock has experienced fluctuations, with a recent decline in price and significant changes in trading volume and shareholder structure [1][2]. Group 2 - As of November 26, Xiangfenghua's stock price was 31.63 CNY per share, with a market capitalization of 3.765 billion CNY [1]. - The company has seen a net outflow of main funds amounting to 899.92 thousand CNY, with large orders showing a buy of 799.44 thousand CNY and a sell of 1.606 million CNY [1]. - Year-to-date, the stock price has increased by 4.53%, but it has decreased by 11.70% over the last five trading days and 11.13% over the last twenty days [1]. Group 3 - Xiangfenghua's main business involves the research, production, and sales of lithium battery anode materials, with 99.50% of its revenue coming from this segment [1]. - The company was established on June 12, 2009, and went public on September 17, 2020 [1]. - As of September 30, the number of shareholders increased by 7.08% to 24,300, while the average circulating shares per person decreased by 6.49% to 4,481 shares [2]. Group 4 - For the period from January to September 2025, Xiangfenghua reported a revenue of 1.131 billion CNY, reflecting a year-on-year growth of 8.16%, while the net profit attributable to shareholders decreased by 64.64% to 19.9475 million CNY [2]. - The company has distributed a total of 45.0021 million CNY in dividends since its A-share listing, with 35.0021 million CNY distributed over the past three years [2].

Core Insights - The number of shareholders for Lijun Thermal Energy decreased to 5,259 as of November 20, representing a decline of 506 shareholders or 8.78% compared to the previous period [2] - The company's stock price closed at 57.99 yuan, with a slight increase of 0.19%, and a cumulative increase of 0.43% since the concentration of shares began [2] - The latest margin trading data shows a total margin balance of 148 million yuan, with an increase of 37.4 million yuan or 33.89% during the current concentration period [2] Financial Performance - For the first three quarters, the company reported total revenue of 522 million yuan, a year-on-year decrease of 12.29% [2] - The net profit for the same period was 56.3 million yuan, reflecting a significant year-on-year decline of 60.49% [2] - The basic earnings per share were reported at 0.6200 yuan, with a weighted average return on equity of 2.68% [2]

11月24日，翔丰华盘中下跌2.01%，截至11:00，报31.24元/股，成交1.26亿元，换手率3.66%，总市值 37.19亿元。 资金流向方面，主力资金净流出378.35万元，特大单买入113.42万元，占比0.90%，卖出0.00元，占比 0.00%；大单买入1746.18万元，占比13.83%，卖出2237.95万元，占比17.72%。 分红方面，翔丰华A股上市后累计派现4500.21万元。近三年，累计派现3500.21万元。 责任编辑：小浪快报 资料显示，上海市翔丰华科技股份有限公司位于上海市宝山区萧云路635弄11号(A7栋)，成立日期2009 年6月12日，上市日期2020年9月17日，公司主营业务涉及锂电池负极材料的研发、生产和销售。主营业 务收入构成为：负极材料99.50%，其他(补充)0.50%。 翔丰华所属申万行业为：电力设备-电池-电池化学品。所属概念板块包括：小盘、钠电池、固态电池、 宁德时代概念、锂电池等。 截至9月30日，翔丰华股东户数2.43万，较上期增加7.08%；人均流通股4481股，较上期减少6.49%。 2025年1月-9月，翔丰华实现营业收入11.31亿元，同比增 ...

上海市翔丰华科技股份有限公司 关于"翔丰转债"预计触发赎回条件的提示性公告 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。 特别提示： 5、上海市翔丰华科技股份有限公司（以下简称"公司"）股票价格自 2025 年 11 月 3 日至 2025 年 11 月 17 日，已有 10 个交易日的收盘价格不低于"翔丰 转债"当期转股价格 27.44 元/股的 130%（即 35.67 元/股）。如后续公司股票 收盘价格持续不低于当期转股价格的 130%，预计将有可能触发"翔丰转债"的 有条件赎回条款。根据《深圳市翔丰华科技股份有限公司创业板向不特定对象发 行可转换公司债券募集说明书》（以下简称"《募集说明书》"）中有条件赎回 条款的相关规定，届时公司董事会有权决定按照债券面值加当期应计利息的价格 赎回全部或部分未转股的"翔丰转债"。敬请广大投资者详细了解可转换公司债 券（以下简称"可转债"）相关规定，并及时关注公司后续公告，注意投资风险。 一、可转债基本情况 （一）可转债发行情况 证券代码：300890 证券简称：翔丰华 公告编号：2025-71 债券代码：12322 ...

Group 1: Industry Overview - The lithium battery anode material industry showed a positive growth trend in the first three quarters of 2025, with most listed companies reporting significant revenue increases, except for Shanhe Intelligent, which experienced a decline [2][5] - The fastest revenue growth among listed companies was recorded by Shangtai Technology, with a year-on-year increase of 52.09% [2][5] - The overall net profit of the lithium battery anode industry increased significantly, with over half of the listed companies turning from negative to positive net profit, except for Xiangfenghua, which saw a decline [5][6] Group 2: Company Performance Beiterui - Beiterui achieved a revenue of 123.8 billion yuan in the first three quarters of 2025, a year-on-year increase of 20.6%, with a net profit of 7.68 billion yuan, up 14.37% [12][13] - The gross margin decreased by 0.59 percentage points, while the net margin increased by 1.2 percentage points [12][13] Singshan Co., Ltd. - Singshan reported a revenue of 148.1 billion yuan, a year-on-year increase of 11.48%, and a net profit of 2.84 billion yuan, up 1121.72% [15][16] - Both gross and net margins improved, with gross margin rising by 1.42 percentage points and net margin by 1.83 percentage points [15][16] Putailai (Zicheng Technology) - Putailai achieved a revenue of 108.3 billion yuan, a year-on-year increase of 10.06%, and a net profit of 17 billion yuan, up 37.25% [20][21] - The gross margin increased by 3.36 percentage points, and the net margin rose by 2.59 percentage points [20][21] Zhongke Electric (Zhongke Xingcheng) - Zhongke Electric reported a revenue of 59.04 billion yuan, a year-on-year increase of 52.03%, and a net profit of 4.02 billion yuan, up 118.85% [24][25] - The gross margin decreased by 0.93 percentage points, while the net margin increased by 2.12 percentage points [24][25] Shangtai Technology - Shangtai Technology achieved a revenue of 55.06 billion yuan, a year-on-year increase of 52.09%, and a net profit of 7.11 billion yuan, up 23.08% [28][29] - Both gross and net margins showed a downward trend, with gross margin decreasing by 2.73 percentage points and net margin by 3.04 percentage points [28][29] Xiangfenghua - Xiangfenghua reported a revenue of 11.31 billion yuan, a year-on-year increase of 8.16%, but a net profit decline of 64.64%, amounting to 0.2 billion yuan [33][34] - Both gross and net margins decreased, with gross margin down by 7.38 percentage points and net margin down by 3.62 percentage points [33][34] Yicheng New Energy - Yicheng New Energy achieved a revenue of 30.10 billion yuan, a year-on-year increase of 12.79%, but reported a net loss of 2.65 billion yuan, although this was a 55.2% improvement from the previous year [36][37] - Both gross and net margins improved, with gross margin up by 1.71 percentage points and net margin up by 16.1 percentage points [36][37] Suotong Development - Suotong Development reported a revenue of 127.6 billion yuan, a year-on-year increase of 28.66%, and a net profit of 6.54 billion yuan, up 201.81% [39][40] - Both gross and net margins increased, with gross margin up by 4.84 percentage points and net margin up by 3.49 percentage points [39][40] Shanhe Intelligent - Shanhe Intelligent achieved a revenue of 50.57 billion yuan, a year-on-year decrease of 2.08%, but a significant net profit increase of 177.57%, amounting to 0.97 billion yuan [41][42] - The gross margin decreased by 0.41 percentage points, while the net margin increased by 1.09 percentage points [41][42] Guomin Technology - Guomin Technology reported a revenue of 9.58 billion yuan, a year-on-year increase of 16.73%, but a net loss of 0.74 billion yuan, although this represented a 50.63% reduction in losses [44][45] - Both gross and net margins improved, with gross margin up by 0.03 percentage points and net margin up by 12.32 percentage points [44][45]

格隆汇11月14日丨翔丰华(300890.SZ)公布，公司2024年员工持股计划（简称"本期员工持股计划"或"本 持股计划"）所持有的公司股票已通过二级市场全部减持完毕。本员工持股计划于2025年9月20日至2025 年11月12日期间，通过集中竞价及大宗交易方式累计减持公司股票1,305,100股，占公司总股本的 1.0964%。截至本公告披露日，本员工持股计划所持公司股票已全部减持完毕。 ...

格隆汇11月14日丨翔丰华(300890.SZ)公布，公司2024年员工持股计划（简称"本期员工持股计划"或"本 持股计划"）所持有的公司股票已通过二级市场全部减持完毕。本员工持股计划于2025年9月20日至2025 年11月12日期间，通过集中竞价及大宗交易方式累计减持公司股票1,305,100股，占公司总股本的 1.0964%。截至本公告披露日，本员工持股计划所持公司股票已全部减持完毕。 ...