Battery - Chuangneng New Energy launched a new generation 588Ah energy storage battery with an energy density of 190Wh/kg and a volume energy density of 419Wh/L, achieving an energy efficiency of 96.5%. The company plans to have over 200GWh of production capacity, with small-scale production expected in Q2 2026 and full-scale production in Q3 2026 [1] - EVE Energy's first large-capacity sodium-ion battery energy storage system has successfully entered commercial operation, featuring a cycle life of over 30,000 times and operational capabilities in a temperature range of -40℃ to +60℃, significantly reducing lifecycle carbon emissions by over 42% compared to lithium-ion batteries [2][3] Materials - Greenme's Qingmeibang park has opened a nickel electroplating production line with an annual capacity of 30,000 tons, achieving a nickel plate product purity of over 99.97%, contributing to a total global production capacity of 60,000 tons for Greenme [5][6] - Tianqi Lithium's battery-grade lithium hydroxide project, with a total investment of approximately 1.8 billion yuan, has been completed and put into production in Jiangsu Zhangjiagang Free Trade Zone [7] - Tibet Mining's battery-grade lithium carbonate project has officially commenced production, utilizing a complex membrane separation and MVR lithium extraction process, marking a significant achievement in challenging high-altitude conditions [8] Equipment - Mannesmann has completed the dual-line product layout for solid-state batteries, with multiple devices shipped and customer validation achieved [10] Battery Recycling - A project for processing waste lithium batteries has been publicly announced, aiming to handle approximately 11,000 tons of waste batteries annually using a low-temperature physical crushing technology developed by Southern University of Science and Technology, which avoids the pollution and high energy consumption associated with traditional methods [11]

Core Viewpoint - The company Mannesmann's subsidiary, Hunan Ancheng, has recently qualified for the "China Energy Construction 2025 Annual Lithium Iron Phosphate Battery Energy Storage System Centralized Procurement Project" in two segments, pending the receipt of the official bid notification [1] Group 1 - Hunan Ancheng has entered the procurement project, which indicates potential growth opportunities in the energy storage sector [1] - The company has not yet received the official notification of winning the bid, highlighting the uncertainty in the procurement process [1] - If the company successfully secures the contract and the order amount meets disclosure standards, it will comply with relevant disclosure obligations [1]

Group 1 - The company has completed the initial layout of dry and wet dual-line products in the solid-state battery field [1] - The company has shipped multiple devices and received customer recognition for the debugging and validation results [1]

Core Insights - The company has completed the initial layout of dry and wet dual-line products in the solid-state battery sector and has shipped multiple devices, with successful debugging and validation recognized by customers [1] Company Summary - The company is actively engaged in the solid-state battery field, indicating a strategic focus on advanced battery technologies [1] - Successful customer validation of the debugging and testing processes suggests a positive reception of the company's products in the market [1]

Core Viewpoint - On September 23, Mannester's stock fell by 3.59% with a trading volume of 418 million yuan, indicating a significant market reaction and investor sentiment [1] Financing Summary - On September 23, Mannester had a financing buy-in amount of 35.32 million yuan and a financing repayment of 53.01 million yuan, resulting in a net financing outflow of 17.70 million yuan [1] - As of September 23, the total financing and securities lending balance for Mannester was 277 million yuan, with the financing balance of 276 million yuan accounting for 7.27% of the circulating market value, which is above the 60th percentile of the past year [1] - The securities lending aspect showed that 5,200 shares were repaid on September 23, with no shares sold, and the securities lending balance was 1.21 million yuan, exceeding the 70th percentile of the past year [1] Company Performance - As of June 30, Mannester reported a total of 24,600 shareholders, an increase of 13.39% from the previous period, while the average circulating shares per person decreased by 11.81% to 2,350 shares [2] - For the first half of 2025, Mannester achieved a revenue of 560 million yuan, representing a year-on-year growth of 59.93%, but reported a net profit attributable to shareholders of -23.51 million yuan, a decrease of 132.66% year-on-year [2] Dividend and Shareholding Structure - Since its A-share listing, Mannester has distributed a total of 89.81 million yuan in dividends [3] - As of June 30, 2025, among the top ten circulating shareholders, the Southern CSI 1000 ETF held 641,500 shares, an increase of 107,100 shares from the previous period, while the Hong Kong Central Clearing Limited reduced its holdings by 1,227,400 shares [3] - New shareholders include the Huaxia CSI 1000 ETF with 389,300 shares and the GF CSI 1000 ETF with 315,600 shares [3]

Investment Rating - The report maintains a "Recommendation" rating for the lithium battery equipment industry [2] Core Viewpoints - The lithium battery equipment sector is experiencing a recovery in demand, driven by both traditional lithium battery needs and new solid-state battery technologies, leading to a significant rebound in stock prices [5][10] - The overall revenue for the lithium battery equipment sector in Q2 2025 reached 12.347 billion, marking a year-on-year increase of 9.93%, while net profit attributable to shareholders was 434 million, a decrease of 12.76% [14][19] - The report highlights a fundamental turning point in the industry, with new orders beginning to recover after a downturn [9][14] Summary by Sections 1. Overview of Lithium Battery Equipment Mid-Year Report 2025 - The report analyzes the operational performance of 13 key listed companies in the lithium battery equipment sector, confirming a turning point in the fundamentals and a recovery in new orders [9] 2. Market Performance - The lithium battery equipment index has outperformed the broader market, with a year-to-date increase of 130.14% compared to a 17.84% rise in the CSI 300 index [10] - The sector's performance is attributed to fundamental changes, advancements in solid-state battery technology, and favorable policy expectations [10] 3. Mid-Year Report Summary - The lithium battery equipment sector achieved a total revenue of 21.476 billion in H1 2025, a slight decrease of 0.35% year-on-year, while net profit was 920 million, down 37.20% [14][16] - The report notes that the revenue growth in Q2 2025 ended a four-quarter decline, indicating a recovery in the revenue stream [14][19] 4. Future Outlook - The solid-state battery industry is approaching commercialization, with significant implications for equipment demand and value [5][43] - The report anticipates that the global market for semi-solid battery equipment could reach 62.44 billion by 2030, with a CAGR of 59% from 2024 to 2030 [5] - The solid-state battery market is projected to reach 45.50 billion by 2030, with a CAGR of 159% from 2024 to 2030 [5] 5. Investment Recommendations - The report suggests focusing on companies involved in the "selling shovel" logic, particularly those engaged in the upstream dry process equipment [5] - Key companies to watch include Naconoer, Xinyuren, Honggong Technology, and Mannester for their potential in the new technology segment [5] - The report also highlights leading companies with established relationships with major battery manufacturers, such as Xian Dao Intelligent, Yinghe Technology, Liyuanheng, and Hangke Technology [5]

Summary of Solid-State Battery Conference Call Industry Overview - The focus is on the solid-state battery industry, particularly addressing the solid-solid interface issues and innovations in materials and equipment systems [1][2][3]. Key Points and Arguments 1. **Manufacturing Techniques**: Solid-state batteries utilize dry forming, isostatic pressing, structured materials, and laser equipment to enhance ionic conductivity and reduce side reactions, thereby improving overall performance and commercialization [1][7]. 2. **International vs. Domestic Strategies**: - International companies like QuantumScape and Solid Power have advanced in high-end equipment and are in pilot to small-scale production stages, employing Atomic Layer Deposition (ALD) technology for interface modification [1][5]. - Domestic companies focus on technological innovation using cost-effective methods such as dry processes and structured materials, currently in small-scale to pilot stages [5][11]. 3. **Key Manufacturing Processes**: - **Solvent-free Dry Forming**: This method has the highest application certainty and is valued at tens of millions, with high technical barriers and a significant degree of localization [11]. - **Isostatic Pressing**: This technology addresses interface contact issues systematically and is also valued at tens of millions, currently in the technical verification or small-scale procurement phase [11]. - **Structured Materials**: These include structured copper foils and supporting membranes, which are in the scale testing or introduction phase, valued in the tens of millions [11]. - **Laser Equipment**: Used for cutting and processing, currently in scale testing or introduction stages, with a high degree of localization [11]. - **Atomic Layer Deposition (AOD)**: Although primarily used in semiconductor or photovoltaic fields, its potential in lithium batteries is significant, with domestic leaders collaborating with top companies [12]. 4. **Interface Modification Techniques**: - Techniques such as coating, doping, controlled reactions, and alloying are crucial for enhancing performance by increasing contact area and blocking adverse reactions [13][14]. - ALD is highlighted as one of the most effective methods for improving interface stability and ionic conductivity [15]. 5. **Challenges in Solid-State Batteries**: - Key challenges include ionic conduction barriers due to the absence of liquid electrolytes, side reactions from active materials, mechanical matching issues, high interface resistance, and dendrite growth risks [9][10]. - Solutions require advanced material selection, precise processing techniques, and innovative design to ensure reliability, safety, and long cycle life [10]. Additional Important Insights - **Market Leaders**: Companies like QuantumScape and Solid Power are leading the global solid-state battery development due to their deep ties with automotive manufacturers and measurable progress [12]. - **Emerging Players**: Domestic companies such as CATL and BYD are beginning sample trials and pilot line setups, indicating a slower but growing presence in the market [12]. - **Key Equipment Suppliers**: Companies like Xian Dai Intelligent and Li Yuan Heng are significant players in the dry and isostatic equipment sectors, contributing to the supply chain [17][18]. - **Potential Growth Companies**: Firms like DeLong Laser and Yanhang Precision are noted for their roles in the solid-state battery supply chain, with potential for growth despite some uncertainties [23][24]. This summary encapsulates the critical aspects of the solid-state battery industry as discussed in the conference call, highlighting the technological advancements, market dynamics, and key players involved.

证券代码：301325 证券简称：曼恩斯特 公告编号：2025-053 深圳市曼恩斯特科技股份有限公司 2025 年第一次临时股东会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东会未出现否决议案的情形。 2、本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 6、会议主持人：公司董事长唐雪姣女士 （一）会议召开情况 1、股东会的召集人：深圳市曼恩斯特科技股份有限公司（以下简称"公司"） 董事会 2、会议召开的合法、合规性：本次股东会的召开符合有关法律、行政法规、 部门规章、规范性文件和《深圳市曼恩斯特科技股份有限公司章程》的相关规定。 3、会议召开的日期、时间： （1）现场会议时间：2025 年 9 月 16 日 14:30 （2）网络投票时间：通过深圳证券交易所（以下简称"深交所"）交易系统 进行网络投票的具体时间为：2025年9月16日9:15-9:25，9:30-11:30和13:00-15:00； 通过深交所互联网投票系统投票的具体时间为：2025 年 9 月 16 日 9:15-15:00 期 间 ...

中国北京市朝阳区建国路 77 号华贸中心 3 号写字楼 34 层 邮编：100025 电话: (86-10) 5809-1000 传真: (86-10) 5809-1100 北京市竞天公诚律师事务所 关于深圳市曼恩斯特科技股份有限公司 2025 年第一次临时股东会的法律意见书 致：深圳市曼恩斯特科技股份有限公司 北京市竞天公诚律师事务所（以下简称"本所"）接受深圳市曼恩斯特科技股份有 限公司（以下简称"公司"）的委托，指派本所律师列席公司于 2025 年 9 月 16 日在深 圳市坪山区龙田街道竹坑社区第三工业区 C 区 9 号楼二楼会议室召开的 2025 年第一次 临时股东会（以下简称"本次股东会"），并根据《中华人民共和国公司法》（以下简称 "《公司法》"）等法律、法规、规章、规范性文件（以下简称"法律法规"）及《深圳 市曼恩斯特科技股份有限公司章程》（以下简称"《公司章程》"）的规定，就本次股东 会的召集和召开程序、出席会议人员资格、召集人资格、会议表决程序和表决结果等 事宜（以下称"程序事宜"）出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的有关本次股东会的文件，同时 听取了公司就有关 ...

Group 1: Financial Performance - The company's gross profit margin decreased in the first half of the year due to changes in product revenue structure, intensified market competition, cost reduction pressures, and fluctuations in capacity utilization [2][3] - The gross profit margin is expected to improve as new orders are gradually produced and delivered, leading to a steady increase in capacity utilization [2][3] Group 2: Product Development - The company has made progress in solid-state/dry process equipment, with orders for various equipment being delivered to clients, including dry multi-roller film systems and ceramic twin-screw fiberization equipment [3] - The company has accumulated substantial technical reserves and validation data in its dual-line strategy for dry and wet processes, achieving order fulfillment across multiple equipment processes [3] Group 3: Future Strategy - The company aims to promote the industrial application of new materials, focusing on advanced coating technology and continuously developing micron and nanometer-level coating processes and equipment [3] - The core products are currently applied in lithium batteries, perovskite solar cells, display panels, and energy storage, with plans to enhance flexible production capacity and adjust product structure according to downstream industry cycles [3]