Group 1 - The core viewpoint of the news is that Zhejiang Hengwei has experienced a decline in stock price and financial performance, with significant changes in financing and shareholder structure [1][2]. Group 2 - On December 23, Zhejiang Hengwei's stock price fell by 0.31%, with a trading volume of 22.87 million yuan. The financing data shows a net financing buy of -403,300 yuan for the day, with a total financing and margin balance of 74.47 million yuan, which is 2.58% of the circulating market value [1]. - The company has a high financing balance, exceeding the 90th percentile level over the past year, indicating a potentially elevated risk in financing activities [1]. - As of September 30, the number of shareholders increased by 21.31% to 11,400, with an average of 6,984 circulating shares per person, reflecting growing investor interest [2]. - For the period from January to September 2025, Zhejiang Hengwei reported a revenue of 475 million yuan, a year-on-year decrease of 7.90%, and a net profit attributable to shareholders of 61.24 million yuan, down 29.79% year-on-year [2]. - The company has distributed a total of 172 million yuan in dividends since its A-share listing, with 111 million yuan distributed over the past three years [2]. - Notably, one of the top ten circulating shareholders, Baodao Growth Zhihang Stock A, has exited the list, indicating potential changes in institutional investment [2].

Core Viewpoint - Zhejiang Hengwei (301222.SZ) is actively expanding its sales channels and enhancing sales incentive policies, resulting in a high capacity utilization rate at its Jiaxing production base and steady progress at its new production line in Vietnam [1] Group 1: Production Capacity - The company has a sufficient order backlog, indicating strong demand for its products [1] - The capacity utilization rate at the Jiaxing production base is currently at a high level [1] - The first phase of the high-performance environmentally friendly alkaline and carbon battery project has been completed [1] Group 2: Vietnam Production Base - The new production line in Vietnam has been steadily progressing and is currently in the trial production and process adjustment phase [1] - The Vietnam base is now capable of mass shipments of zinc-manganese batteries and is continuously fulfilling customer orders [1]

Group 1: Company Overview - Zhejiang Hengwei Battery Co., Ltd. specializes in the research, production, and sales of high-performance environmentally friendly zinc-manganese batteries, with key products including LR03, LR6, LR14, LR20, and 6LR61 series alkaline batteries [2] - The company achieved a revenue of CNY 47,469.9 million and a net profit of CNY 6,123.72 million in the first three quarters of 2025 [2] Group 2: Performance Challenges - The decline in performance is attributed to several factors: 1. Increased international trade friction, particularly the US-China trade war, affecting US business operations [2] 2. Intensified competition in the zinc-manganese battery industry, leading to pressure on profit margins [2] 3. Changes in export tax rebate policies, with the rate reduced from 13% to 9%, impacting profit performance [2] Group 3: Domestic Market Development - The company is focusing on expanding its domestic business, collaborating with well-known enterprises in the electrical and e-commerce sectors [3] - There is significant potential for growth in the domestic market, with plans for refined management across various dimensions including product, business collaboration, sales channels, and feedback [3] Group 4: Production Capacity and Expansion - The production capacity utilization at the Jiaxing headquarters is high, with sufficient orders in hand [3] - The new production line at the Vietnam base is in the trial production phase, gradually ramping up capacity, with plans to achieve an annual production of 800 million alkaline batteries and 1.03 billion carbon batteries upon reaching full capacity [3] Group 5: Industry Landscape - The zinc-manganese battery industry is experiencing steady growth, with China being the largest producer globally, and domestic manufacturers achieving world-class production capacity and technology [4] - The global production capacity is concentrated in China, with major OEM manufacturers supporting retail brands and international companies like Duracell and Panasonic maintaining local production capabilities [4] Group 6: Future Strategies - The company plans to enhance its investment and acquisition strategies by closely monitoring national policies and industry trends, aiming to strengthen its core business while cautiously selecting suitable targets for investment [4]

Group 1 - The company Zhejiang Hengwei Battery Co., Ltd. held its first extraordinary general meeting of shareholders on September 15, 2025, where several resolutions were passed, including changes to the purpose of share repurchase and the adjustment of the organizational structure and board seats [2] - The company has completed the registration and filing procedures for changes in business registration and has obtained a new business license from the Zhejiang Provincial Market Supervision Administration, with a registered capital of 102.416 million yuan [2] - The company’s business scope includes battery manufacturing and sales, household appliance manufacturing and sales, production and sales of battery accessories, and research and development of electronic materials and new materials [2] Group 2 - The company made adjustments to certain provisions of its Articles of Association as required by the Zhejiang Provincial Market Supervision Administration, which do not differ materially from the content approved at the first extraordinary general meeting of shareholders [3] - The company has disclosed the full text of the revised Articles of Association on the Giant Tide Information Network [3] - The company’s board of directors announced the completion of the registration and filing of the revised Articles of Association [5]

浙江恒威电池股份有限公司 公司章程 浙江恒威电池股份有限公司 章 程 二〇二五年九月 | 第一章 | 总则 | 1 | | --- | --- | --- | | 第二章 | 经营宗旨和范围 | 2 | | 第三章 | 股份 | 2 | | 第一节 | 股份发行 | 2 | | 第二节 | 股份增减和回购 | 3 | | 第三节 | 股份转让 | 5 | | 第四章 | 股东和股东会 | 6 | | 第一节 | 股东 | 6 | | 第二节 | 控股股东和实际控制人 8 | | | 第三节 | 股东会的一般规定 | 9 | | 第四节 | 股东会的召集 | 11 | | 第五节 | 股东会的提案与通知 | 13 | | 第六节 | 股东会的召开 | 14 | | 第七节 | 股东会的表决和决议 | 16 | | 第五章 | 董事和董事会 | 21 | | 第一节 | 董事的一般规定 | 21 | | 第二节 | 董事会 | 24 | | 第三节 | 独立董事 | 28 | | 第四节 | 董事会专门委员会 | 30 | | 第六章 | 高级管理人员 | 32 | | 第七章 | 财务会计制度、利润分配和审计 ...

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。 一、基本情况 浙江恒威电池股份有限公司（以下简称"公司"）于2025年9月15日召开2025 年第一次临时股东大会，审议通过了《关于变更回购股份用途并注销暨减少公司 注册资本的议案》《关于调整公司组织架构与董事会席位的议案》《关于修订< 公司章程>并办理工商变更登记备案的议案》等相关议案，于同日召开2025年第 一次职工代表大会，审议通过了《关于选举徐耀庭先生为第三届董事会职工代表 董事的议案》等相关议案，并于2025年9月19日召开第三届董事会第十二次会议， 审议通过了《关于选举代表公司执行公司事务的董事暨确定公司法定代表人的议 案》《关于确认公司第三届董事会审计委员会成员及召集人的议案》等相关议案。 具体内容详见公司在巨潮资讯网（www.cninfo.com.cn）披露的《2025年第一次临 时股东大会决议公告》（公告编号：2025-041）、《关于董事离任暨选举职工代 表董事的公告》（公告编号：2025-043）、《第三届董事会第十二次会议决议公 告》（公告编号：2025-044）等相关公告。 二、工商变更 ...

Core Viewpoint - Zhejiang Hengwei's stock performance shows a slight increase of 0.10% on November 11, with a trading volume of 37.26 million yuan, indicating a stable market presence despite recent financial challenges [1]. Financing Summary - On November 11, Zhejiang Hengwei had a financing buy amount of 4.80 million yuan and a financing repayment of 5.34 million yuan, resulting in a net financing outflow of 0.53 million yuan [1]. - The total financing and securities balance for Zhejiang Hengwei reached 75.22 million yuan, accounting for 2.38% of its market capitalization, which is above the 90th percentile of the past year, indicating a high level of financing activity [1]. - The company reported no short selling activity on November 11, with a short selling balance of 0.00 yuan, also reflecting a high position relative to the past year [1]. Business Performance Summary - As of September 30, Zhejiang Hengwei had 11,400 shareholders, an increase of 21.31% from the previous period, with an average of 6,984 circulating shares per shareholder, up by 124.42% [2]. - For the period from January to September 2025, Zhejiang Hengwei achieved a revenue of 475 million yuan, a year-on-year decrease of 7.90%, and a net profit attributable to shareholders of 61.24 million yuan, down 29.79% year-on-year [2]. - Since its A-share listing, Zhejiang Hengwei has distributed a total of 172 million yuan in dividends, with 111 million yuan distributed over the past three years [2].

招商证券股份有限公司 关于浙江恒威电池股份有限公司 2025 年定期现场检查报告 | 保荐机构名称：招商证券股份有限公司 被保荐公司简称：浙江恒威 | | --- | | 保荐代表人姓名：王森鹤 联系电话：021-58835113 | | 保荐代表人姓名：张渝 联系电话：021-58835100 | | 现场检查人员姓名：王森鹤、张渝 | | 现场检查对应期间：2024 年 7 月-2025 年 9 月 | | 现场检查时间：2025 年 月 日-2025 年 月 日 11 4 11 5 | | 一、现场检查事项 现场检查意见 | | （一）公司治理 是 否 不适用 | | 现场检查手段包括：（一）与发行人相关人员进行现场沟通；（二）查看发行人的主要生产、经 | | 营、管理场所；（三）查看发行人有关文件资料等。 | | 1.公司章程和公司治理制度是否完备、合规 √ | | 2.公司章程和三会规则是否得到有效执行 √ | | 3.三会会议记录是否完整，时间、地点、出席人员及会议内容 √ | | 等要件是否齐备，会议资料是否保存完整 | | 4.三会会议决议是否由出席会议的相关人员签名确认 √ | | 5.公司 ...

Core Viewpoint - The company is currently operating at high capacity utilization in its production bases and has sufficient orders on hand, with plans to expand production capacity and enhance revenue through new projects [1] Group 1: Production and Capacity - The company reports that both its Jiaxing and Vietnam production bases are maintaining high capacity utilization rates [1] - The company is accelerating the development of high-performance environmentally friendly alkaline and carbon batteries, as well as the construction and intelligent transformation of button lithium manganese battery projects to further expand advanced manufacturing capacity [1] Group 2: Financial Management and Shareholder Relations - After completing the share repurchase for the 2024 fiscal year, the company currently has no plans for further stock buybacks, but will follow regulatory procedures for any future actions [1] - The company emphasizes the importance of market value management and shareholder returns, committing to improve operational efficiency and quality, enhance information disclosure, and strengthen communication with investors [1]

Core Viewpoint - The company reported a significant decline in net profit and earnings per share due to external factors such as the US-China trade war and increased competition, alongside a reduction in export tax rebate rates [5]. Financial Performance - The net profit attributable to shareholders decreased by 29.79% year-on-year, while the net profit after deducting non-recurring gains and losses fell by 32.92% [5]. - Basic earnings per share dropped by 29.02% [5]. - The export tax rebate rate decreased from 13% to 9%, impacting overall profitability [5]. Shareholder Information - The company plans to repurchase shares using between 25 million and 50 million RMB, with a maximum price of 36.50 RMB per share [6]. - The repurchase period is set from February 23, 2024, to February 6, 2025, with a total of 1,091,800 shares repurchased, accounting for 1.08% of the total share capital [7]. Corporate Governance - The company has adjusted its organizational structure and board composition, eliminating the supervisory board and introducing a worker representative director position [9]. - The board now consists of 7 members, including 3 independent directors and 1 worker representative director [9]. Other Important Matters - The company has adjusted the maximum repurchase price to 36.20 RMB per share following a dividend distribution [6]. - The company has completed the cancellation of repurchased shares, reducing total share capital from 101,333,400 shares to 100,241,600 shares [8].