Group 1 - The company has expanded its financing channels after going public, which has enhanced its research and production capabilities [2] - The implementation of fundraising projects has contributed to the continuous growth of the company's operating performance post-listing [2]

Core Viewpoint - 德石股份 has a strong R&D and production capability in the field of screw drill tools, with a diverse range of products and significant pending orders for delivery [1][2] Group 1: Product Offering - The company manufactures screw drill tools suitable for well diameters ranging from 1-7/8″ to 26″, with a total of 31 specifications based on outer diameter from Φ38 to Φ305 [1] - The products include various structural styles such as equal wall thickness, straight body, single bend, and adjustable angle at the wellhead, catering to different temperature and mud medium conditions [1] Group 2: Pricing and Orders - The sales price of screw drill tools ranges from 12,000 yuan to 400,000 yuan per unit [1] - The company has 2,800 screw drill tools pending delivery, which includes both sales and rental orders, with actual revenue recognized upon delivery or completion of rental usage [1] Group 3: Production Capacity - As of September 10, 2025, all production lines are operating at full capacity to produce screw drill tools [2] - The company has secured contracts for screw drill tools priced at 422,000 yuan per set, indicating a focus on higher-end products [2]

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the **battery materials sector** and provides insights into the **battery market dynamics** as of September 2025, particularly in China [4][5]. Core Insights and Arguments - **Battery Price Expectations**: There is caution regarding sustained price increases in the battery market despite short-term tightness. Seasonal strengths may lead to temporary price rebounds, but a sustainable price hike is deemed unlikely due to expected seasonal weakness in Q1 2026 and a balanced supply-demand dynamic [4][6]. - **Earnings Sensitivity**: A sensitivity analysis indicates that a 10% price increase in batteries could result in a 30%-60% earnings upside for 2026 estimates. Companies like Gotion, CALB, and EVE Energy are noted to be more sensitive to battery price hikes [6]. - **Recent Earnings Reviews**: - **CATL**: 2Q25 earnings exceeded expectations, but the battery unit gross profit profile was mixed. The recommendation is to maintain a Buy on A-Shares and downgrade H-Shares to Neutral due to valuation concerns [6]. - **Gotion**: 2Q25 results missed expectations due to one-off items, but the recommendation remains a Buy with a raised target price reflecting strong volume trends and operational efficiency [6]. - **EVE Energy**: 2Q25 earnings missed due to one-off expenses, but unit gross profit beat expectations due to product mix upgrades. The recommendation is Neutral on valuation [6]. - **CALB**: 1H25 earnings beat expectations due to volume strength, maintaining a Neutral rating with a higher target price [6]. - **Farasis**: 2Q25 results were below expectations due to volume misses and new plant ramp-up issues, maintaining a Sell rating [6]. - **Hunan Yuneng**: Strong 2Q25 results affirming sector inflection, maintaining a Buy rating due to improving bargaining power [6]. - **Dynanonic**: Missed both volume and profitability targets, downgraded to Sell from Neutral due to marginalization risks [6]. Additional Important Insights - **Supply Chain Utilization Trends**: The report includes month-over-month changes in supply chain utilization for various battery components, indicating a general upward trend in utilization rates across cathodes, anodes, separators, and electrolytes [8][9]. - **Export Trends**: The report highlights significant growth in battery exports, particularly in Li-ion batteries, with a notable increase in export volumes and unit prices for various battery components [57][58]. - **Market Dynamics**: The report emphasizes the competitive landscape among major players in the battery materials sector, including CATL, BYD, and CALB, and their respective market shares and growth trajectories [39][40]. This summary encapsulates the critical insights and data points from the conference call, providing a comprehensive overview of the current state and future outlook of the battery materials industry.

证券日报网讯德石股份（301158）9月12日在互动平台回答投资者提问时表示，截至2025年9月10日，公 司股东总户数为14345户。 ...

证券代码：301158 证券简称：德石股份 德州联合石油科技股份有限公司 投资者关系活动记录表 编号：2025-005 投资者关系活动 类别 特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 现场参观 □电话会议 □其他： 参与单位名称 及人员 国新证券：王建忠 王广泽 国新资本：孙一夫 亚历山大智能科技有限公司:周军 孟广辉 杨桂林 国新综改基金：曲富城 美银投资：祁志广 融信慧投投资：李新华 个人投资者 4 人 时间 2025 年 9 月 10 日 10:00-16:30 地点 公司三楼办公室 公司接待人员 姓名 董事长、总经理 程贵华 副总经理、董事会秘书 王海斌 证券事务代表 张峰 投资者关系活动 主要内容介绍 一、 公司基本情况介绍 二、 互动交流内容 1、公司在细分行业中是否有并购、注入优质资产，做大做强的计划？ 答：公司始终致力于提升企业价值并为股东创造长期稳定的回报，我们 认为目前资本市场支持的并购重组也是助推公司高质量发展的方式之一， 公司在做好石油钻采井下工具及装备主业的同时，也在积极寻找第二增长 曲线，公司着重关注新兴经济领域，围绕新质生产力方向寻求投资或并 ...

Group 1 - The event "Rational Investment Accompanies Me" was held by Guoxin Securities Shandong Branch, focusing on the company Deshi Co., Ltd. (301158) listed on the ChiNext board [2] - Deshi Co., Ltd. was established in 1961 and transitioned to a private enterprise in 2004, with a focus on oil and gas equipment and a stable performance since its listing in 2022 [2] - The company expects revenue and profit growth in Q4, with over 2,800 rod drilling tools pending delivery [2] Group 2 - Artificial intelligence and smart transformation were key discussion points, with a focus on the "Jumang" robot operating system developed by Shandong Alexander Intelligent Technology Co., Ltd. [3] - Deshi Co., Ltd. is advancing automation and digital transformation in oil and gas, with expected revenue from automated equipment applications in Daqing and Xinjiang exceeding 30 million yuan [3] - The company is implementing digital technologies in product automation and production process automation [3] Group 3 - Talent cultivation is crucial for industry development, with Deshi Co., Ltd. exploring partnerships with educational institutions for targeted training programs [4] - The company is looking for investment or acquisition opportunities in emerging economic sectors, focusing on new production capabilities [4] - A site visit to Deshi Co., Ltd.'s exhibition hall and production area was conducted, followed by discussions on macroeconomic conditions and industry trends [4]

Core Viewpoint - 德石股份 (301158) reported that as of August 29, 2025, the total number of shareholders is 14,392 [1] Company Summary - The company has engaged with investors through an interactive platform to provide updates on shareholder statistics [1]

证券代码：301158 证券简称：德石股份 公告编号：2025-039 德州联合石油科技股份有限公司 本次变更后，公司首次公开发行股票的持续督导保荐代表人为乔军文先生和 孙月芹女士。 公司董事会对付玉龙先生在公司首次公开发行股票并在创业板上市及持续 督导期间所做出的贡献表示衷心感谢！ 特此公告。 德州联合石油科技股份有限公司董事会 2025 年 8 月 29 日 附件： 关于变更持续督导保荐代表人的公告 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、 误导性陈述或者重大遗漏。 德州联合石油科技股份有限公司（以下简称"公司"）近日收到国新证券股 份有限公司（以下简称"国新证券"）出具的《关于德州联合石油科技股份有限 公司持续督导保荐代表人变更的函》。国新证券作为公司首次公开发行股票的保 荐机构，曾指定付玉龙先生、孙月芹女士作为公司首次公开发行股票的持续督导 保荐代表人，法定持续督导期限至 2025 年 12 月 31 日。 近日，付玉龙先生因工作变动原因，不再担任该项目持续督导的保荐代表人。 为保证持续督导工作有序进行，国新证券现委派乔军文先生（简历见附件）为该 项目持续督导的保荐代表 ...

Company Overview - 德州联合石油科技股份有限公司 is located in Shandong Province and was established on June 30, 2004. The company was listed on January 17, 2022. Its main business involves the research, production, sales, and leasing of specialized tools and equipment for oil drilling [1]. Financial Performance - For the first half of 2025, 德石股份 achieved operating revenue of 277 million yuan, representing a year-on-year growth of 26.60%. The net profit attributable to shareholders was 45.17 million yuan, reflecting a year-on-year increase of 29.24% [2]. - Cumulative cash dividends since the A-share listing amount to 133 million yuan, with 115 million yuan distributed over the past three years [3]. Shareholder Information - As of July 31, the number of shareholders for 德石股份 was 16,300, a decrease of 0.25% from the previous period. The average number of circulating shares per shareholder increased by 0.25% to 9,001 shares [2]. - As of June 30, 2025, 中信保诚多策略混合(LOF)A was the seventh largest circulating shareholder, holding 677,400 shares as a new shareholder [3]. Financing and Trading Activity - On August 27, 德石股份 experienced a decline of 4.37% in stock price, with a trading volume of 150 million yuan. The financing buy-in for that day was 16.37 million yuan, while the financing repayment was 14.94 million yuan, resulting in a net financing buy-in of 1.43 million yuan. The total financing and securities lending balance reached 101 million yuan [1]. - The current financing balance of 101 million yuan accounts for 3.61% of the circulating market value, which is above the 80th percentile level over the past year, indicating a high level of financing activity [1].

Group 1 - The stock price of Dezhou United Petroleum Technology Co., Ltd. (德石股份) closed at 19.38 yuan on August 25, 2025, with a decrease of 0.62% and a turnover rate of 4.55% [1] - The company reported a total revenue of 277 million yuan for the first half of 2025, representing a year-on-year growth of 26.60%, and a net profit attributable to shareholders of 45.17 million yuan, up 29.24% year-on-year [1] - The company's liquidity ratios are strong, with a current ratio of 3.381 and a quick ratio of 2.343, while the debt-to-asset ratio stands at 25.78% [1] Group 2 - Dezhou United Petroleum Technology Co., Ltd. has made investments in 4 companies and participated in 757 bidding projects [2] - The company holds 14 trademark registrations and 184 patents, along with 47 administrative licenses [2]