Group 1 - Small-cap stocks exhibit higher volatility and activity compared to large-cap stocks, making them more likely to become market leaders [1] - As of August 18, there are 981 stocks with a circulating market value below 3 billion yuan, and 410 stocks with a circulating market value below 2 billion yuan [1] - A total of 1,641 stocks have a total market value below 5 billion yuan, with 582 stocks having a total market value below 3 billion yuan [1] Group 2 - The three stocks with the smallest circulating market values are *ST Zitian at 440 million yuan, Liren Technology at 584 million yuan, and Bofei Electric at 639 million yuan [1] - The three stocks with the smallest total market values are *ST Zitian at 444 million yuan, *ST Suwu at 697 million yuan, and *ST Yuancheng at 752 million yuan [1] - A detailed list of stocks with circulating market values below 2 billion yuan includes various sectors such as media, household appliances, and basic chemicals, with notable examples like *ST Zitian and Liren Technology [1][2]

Industry Overview - The zinc-manganese battery industry is experiencing stable demand and low-speed growth, with China being the largest manufacturer globally [2] - The production technology is mature, and leading domestic companies have reached world-class levels in capacity and technology [2] Product and Application - The company specializes in high-performance, environmentally friendly zinc-manganese batteries, including various alkaline and carbon battery series [2] - Products are widely used in household appliances, smart devices, security equipment, and medical electronics, with a growing market due to the trend towards wireless and smart technologies [2] Export and Market Strategy - The company's products are primarily exported to developed regions such as Europe, North America, and Japan, serving major commercial chains and brand operators [3] - The company is adapting to changes in trade policies and focusing on domestic market improvements, maintaining a stable sales trend [3] Production Capacity - The Vietnam production base has begun operations, with current capacity utilization remaining high despite initial ramp-up challenges [4] - The company has not experienced significant idle capacity at its Jiaxing base, as it actively pursues sales and market opportunities [4] R&D and Product Differentiation - Currently, there are no plans for developing new energy vehicle batteries or solid-state batteries, but the company remains open to innovations in battery technology [5] - The company leverages its extensive technical expertise to differentiate its products through tailored formulations and manufacturing processes [6] Market Stability and Risks - Zinc-manganese batteries have unique applications and cannot be easily replaced by lithium batteries, maintaining a stable market presence [6] - The company is cautious in its investment and acquisition strategies, focusing on industry trends and potential opportunities [6]

Core Viewpoint - The data center industry is characterized as a low-margin business with significant overcapacity, leading to intense price competition and challenges in maintaining profitability. Despite recent surges in stock prices driven by AI demand, the underlying supply-demand imbalance remains a critical concern for the industry [2][3][36]. Group 1: Industry Overview - The data center sector has experienced a prolonged downturn from late 2020 to mid-2024, with leading companies like Guanghui New Network and GDS Holdings facing severe valuation declines, with stock prices plummeting by as much as 95.71% [2][3]. - Despite a brief recovery in late 2023, driven by increased investment and stock price surges, the industry is now facing renewed declines as companies report disappointing earnings and high valuations [3][4]. Group 2: Supply and Demand Dynamics - The current supply-demand relationship in the data center market remains unfavorable, with supply significantly outpacing demand due to aggressive expansion during the pandemic and subsequent construction booms [5][6]. - Major players are engaged in price wars to secure contracts, with rental prices for data center space dropping dramatically, sometimes by over 50% in key markets [7][8]. Group 3: Challenges in the Industry - The industry faces multiple challenges, including stricter government regulations on new data center approvals and increased energy efficiency requirements, which complicate expansion efforts [17][18]. - Financing remains a significant hurdle, as data center companies rely heavily on bank loans, which have become increasingly difficult to secure due to perceived risks in the sector [22][23]. Group 4: Recent Stock Market Activity - Data center stocks have seen three significant price surges, primarily driven by AI-related demand and capital expenditures from major tech firms, with notable increases in stock prices for companies like GDS and Century Internet [25][26][30]. - The latest surge was fueled by announcements of substantial capital investments from major cloud providers, which raised expectations for future demand in the data center sector [32][34]. Group 5: Future Outlook - Despite recent stock price increases, the long-term outlook for the data center industry remains uncertain, with analysts suggesting that the current market enthusiasm may need to cool as fundamental supply-demand issues persist [36][37].

Core Viewpoint - Zhejiang Hengwei Battery Co., Ltd. has announced its 2024 annual profit distribution plan, which includes a cash dividend of 3.00 yuan per 10 shares for all shareholders, excluding shares held in the company's repurchase account [2][3][6]. Summary by Sections Annual Profit Distribution Plan - The company will distribute a cash dividend of 3.00 yuan per 10 shares (including tax) based on a total share capital of 101,333,400 shares, excluding 1,091,800 shares held in the repurchase account, resulting in a base of 100,241,600 shares for the distribution [2][3][6]. - The total cash dividend amount is calculated as 30,072,480 yuan, which will be distributed to shareholders based on the adjusted share base [12]. Dividend Calculation and Taxation - The cash dividend per 10 shares, after accounting for the total share capital, is approximately 2.967676 yuan per 10 shares [2][12]. - Different tax rates apply for various categories of shareholders, with specific provisions for foreign institutional investors and individual shareholders holding pre-IPO restricted shares [6][12]. Key Dates - The record date for the dividend distribution is set for June 6, 2025, and the ex-dividend date is June 9, 2025 [7]. Distribution Method - Cash dividends will be directly credited to shareholders' accounts through their securities companies on the ex-dividend date [9][10]. Compliance and Adjustments - The distribution plan has been approved by the 2024 annual general meeting held on May 20, 2025, and will remain consistent with the approved plan unless there are changes in the total share capital [3][5][6].

1、浙江恒威电池股份有限公司（以下简称"公司"）2024 年年度权益分派 的实施方案：以公司现有总股本 101,333,400 股扣除公司回购专用证券账户中的 股份 1,091,800 股后的 100,241,600 股为基数，向全体股东每 10 股派发现金红利 3.00 元（含税），不送红股，不以资本公积金转增股本。 2、因公司回购专用证券账户股份不参与本次权益分派，本次权益分派实施 后，按公司总股本（含公司回购专用证券账户中的股份）折算的每 10 股现金红 利＝实际现金分红总额÷总股本×10＝30,072,480÷101,333,400×10≈2.967676 元（保留小数点后六位，最后一位直接截取，不四舍五入）。 3、本次权益分派实施后除权除息参考价＝股权登记日收盘价－0.2967676 元/股。 证券代码：301222 证券简称：浙江恒威 公告编号：2025-026 浙江恒威电池股份有限公司 关于 2024 年年度权益分派实施的公告 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、误导性陈述或重大遗漏。 特别提示： 公司 2024 年年度权益分派方案已获 2025 年 5 月 ...

特别提示： 1. 本次股东大会未出现否决议案的情形。 2. 本次股东大会不涉及变更以往股东大会已通过的决议。 浙江恒威电池股份有限公司（以下简称"公司"）于2025年5月20日以现场表 决与网络投票相结合的方式召开了2024年年度股东大会，现将本次股东大会相关 情况公告如下： 一、会议召开和出席情况 证券代码：301222 证券简称：浙江恒威 公告编号：2025-025 浙江恒威电池股份有限公司 2024 年年度股东大会决议公告 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。 （一）会议召开情况 1. 会议召开的时间 （1）现场会议召开时间：2025年5月20日（星期二）14:30 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为 2025年5月20日（星期二）上午9:15-9:25，9:30-11:30，下午13:00-15:00；通过深 圳证券交易所互联网投票系统投票的时间为2025年5月20日（星期二）9:15至15:00 期间的任意时间。 2. 现场会议召开的地点：浙江省嘉兴市秀洲区油车港正阳西路77号公司二 楼会议室。 3. 会议召 ...

招商证券关于浙江恒威 2024 年度持续督导跟踪报告 招商证券关于浙江恒威 2024 年度持续督导跟踪报告 | 项目 | 工作内容 | | --- | --- | | 7.向本所报告情况（现场检查报告除外） | | | （1）向本所报告的次数 | 无 | | （2）报告事项的主要内容 | 不适用 | | （3）报告事项的进展或者整改情况 | 不适用 | | 8.关注职责的履行情况 | | | （1）是否存在需要关注的事项 | 无 | | （2）关注事项的主要内容 | 不适用 | | （3）关注事项的进展或者整改情况 | 不适用 | | 9.保荐业务工作底稿记录、保管是否合规 | 是 | | 10.对上市公司培训情况 | | | （1）培训次数 | 1 | | （2）培训日期 | 2024 年 10 月 29 日 | | （3）培训的主要内容 | 上市公司募集资金存放与使用、交易与关联交易、内 幕交易 | | 11.其他需要说明的保荐工作情况 | 无 | 招商证券股份有限公司 关于浙江恒威电池股份有限公司 2024 年度持续督导跟踪报告 保荐人名称：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 ...

上海市浩信律师事务所 SHANGHAI ALSHINE LAW FIRM 2024 年年度股东大会的 法律意见书 上海市浩信律师事务所 关于浙江恒威电池股份有限公司 致：浙江恒威电池股份有限公司 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》"）、《上市公司股东大会规则》（以下简称"《股东大会规则》"）等 相关法律法规的规定，上海市浩信律师事务所（以下简称"本所"）接受浙江恒威电池股 份有限公司（以下简称"贵公司"）委托，指派陈育芳律师、杨晨律师出席贵公司于 2025 年 5 月 20 日在贵公司会议室(浙江省嘉兴市秀洲区油车港正阳西路 77 号)举行的公司 2024 年年度股东大会（以下简称"本次股东大会"），对本次股东大会进行见证并出具法律意见 书。 本所律师根据《公司法》、《证券法》等法律法规和中国证监会的有关规定，本着律师 行业公认的业务标准、道德规范和勤勉尽责的精神，对本次股东大会的召集、召开程序和 出席本次股东大会人员的资格、召集人资格以及本次股东大会的表决程序、表决结果进行 了审查，并见证了本次股东大会的会议过程，现出具法律意见如下： 一 ...

Financial Performance - In 2024, the company achieved operating revenue of 702 million CNY, a year-on-year increase of 19.37% [4] - The total profit for 2024 was 149 million CNY, reflecting a growth of 6.16% [4] - The net profit attributable to ordinary shareholders was 130 million CNY, up by 6.59% year-on-year [4] - In Q1 2025, the operating revenue reached 144 million CNY, with a net profit of 20.86 million CNY [4] Market Position and Competitive Advantages - The company has over 20 years of experience in the high-performance eco-friendly zinc-manganese battery sector, establishing significant competitive advantages in product performance, process equipment, quality management, customer resources, R&D, and green production [2] - As a leading manufacturer of zinc-manganese batteries in China, the company’s product quality has reached international advanced levels, securing a notable share in the international market [3] Product Development and Future Prospects - The upcoming button lithium-manganese battery product is characterized by its small size, light weight, long storage life, and high safety, with applications in various electronic devices [3] - The new production and smart factory renovation project for button lithium-manganese batteries is expected to be completed by Q4 2025, with stable order expectations already established through proactive market engagement [3] Industry Overview - The global zinc-manganese battery market has matured, with stable demand and a competitive landscape, particularly in developed countries where brands like Kingbo and Energizer perform well [5] - The domestic zinc-manganese battery industry is characterized by high marketization and a stable competitive structure, with several companies meeting global market demands [5]

浙江恒威电池股份有限公司 独立董事年度述职报告 （王金良） 各位股东及股东代表： 2024 年度，本人任职符合《上市公司独立董事管理办法》第六条规定的独 立性要求，不存在影响独立性的情形。 二、独立董事年度履职概况 1、出席董事会情况 | 姓名 | 应出席 | 现场出 | 通讯方式 | 委托出 | 缺席 | 投票情况及异议 | | --- | --- | --- | --- | --- | --- | --- | | | 次数 | 席次数 | 出席次数 | 席次数 | 次数 | 事项等其他说明 | | 王金良 | 5 | 4 | 1 | 0 | 0 | 无异议 | 2、出席股东大会情况 | 姓名 | 应出席次数 | 亲自出席次数 | 委托出席次数 | 缺席次数 | | --- | --- | --- | --- | --- | | 王金良 | 1 | 1 | 0 | 0 | 4、现场工作情况 本人王金良作为浙江恒威电池股份有限公司（以下简称"公司"）的独立董 事，在 2024 年的履职过程中严格遵照《公司法》《上市公司独立董事管理办法》 《深圳证券交易所创业板股票上市规则》等有关法律法规和《公司章程》的要求， ...