Summary of Key Points Core Viewpoint - The company has successfully completed the first vesting period of its 2024 restricted stock incentive plan, allowing 264 eligible participants to receive a total of 354.9651 million shares, which represents 0.4688% of the company's total share capital [3][12][19]. Group 1: Incentive Plan Overview - The incentive plan involves the issuance of restricted stock to directors, senior management, and key personnel, with a total of 1,514.506 million shares initially planned for distribution [2][16]. - The vesting price for the restricted stock was adjusted from 17.43 yuan per share to 16.855 yuan per share due to changes in the plan [10][11]. Group 2: Vesting Conditions and Performance Metrics - The first vesting period for the restricted stock is set from July 3, 2024, to July 2, 2026, with a vesting ratio of 30% for the first year [13][14]. - The performance targets for the first vesting period include a sales growth rate of at least 25% for phosphate cathode materials compared to 2023 sales figures [6][12]. Group 3: Share Distribution and Impact - The total number of shares distributed in this vesting period is 354.9651 million, impacting the company's total share capital, which will increase from 757,253,070 shares to 760,802,721 shares [15][18]. - The distribution of shares will not significantly alter the company's control structure or financial performance [18][19]. Group 4: Compliance and Approval - The plan has undergone necessary approvals and has been verified by legal and financial advisors, confirming compliance with relevant regulations [19][20]. - The company has ensured that all vesting conditions have been met, allowing for the distribution of shares to eligible participants [12][19].

证券代码：301358 证券简称：湖南裕能 公告编号：2025-037 湖南裕能新能源电池材料股份有限公司 关于 2024 年限制性股票激励计划首次授予部分第一个归属期 归属结果暨股份上市公告 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。 重要内容提示： 湖南裕能新能源电池材料股份有限公司（以下简称"公司"或"湖南裕能"） 于 2025 年 6 月 20 日召开第二届董事会第十三次会议、第二届监事会第十三次会 议，审议通过《关于 2024 年限制性股票激励计划首次授予部分第一个归属期归 属条件成就的议案》。具体内容详见公司于 2025 年 6 月 20 日在巨潮资讯网上披 露的《关于 2024 年限制性股票激励计划首次授予部分第一个归属期归属条件成 就的公告》。截至本公告披露日，公司已按规定为符合公司《2024 年限制性股 票激励计划（草案修订稿）》（以下简称"《激励计划》"或"激励计划"）首 次授予部分归属条件的激励对象办理第一个归属期归属登记工作。现将有关情况 公告如下： 一、股权激励计划实施情况概要 （一）本激励计划简述 2024 年 5 月 15 日 ...

Investment Rating - The report maintains an "Accumulate" rating for the power equipment industry [1] Core Views - The solid-state industrialization process is accelerating, and the lithium battery leaders are entering a peak season earlier than expected [1] - The report highlights the strong performance of the electric equipment sector, with a 1.99% increase, outperforming the broader market [3] - The report emphasizes the growth potential in various segments, including humanoid robots, energy storage, electric vehicles, and renewable energy [3][7] Industry Trends - The electric equipment sector has shown a positive trend with significant increases in solar power (6.8%) and nuclear power (2.07%) [3] - The humanoid robot market is expected to see substantial growth, with projections of over 100 million units and a market space exceeding 15 trillion yuan [9] - Energy storage in the U.S. is projected to double in capacity, with significant growth expected in 2025 [7][11] Company Insights - Notable companies such as CATL, BYD, and Sungrow are highlighted for their strong market positions and growth potential [6][7] - The report suggests a focus on leading companies in the lithium battery sector, including CATL, BYD, and others, as they are expected to benefit from the upcoming demand surge [1][6] - The report also mentions the importance of technological advancements in solid-state batteries and their potential impact on the market [3][7] Investment Strategy - The report recommends investing in leading companies within the humanoid robot, energy storage, and electric vehicle sectors, citing their strong growth trajectories and market leadership [3][7] - Specific companies such as Ningde Times, Sunpower, and Huichuan Technology are identified as key investment opportunities due to their competitive advantages and growth potential [6][7]

Group 1: Phosphate Iron Lithium Market Overview - In the first half of 2025, phosphate iron lithium production reached 1.632 million tons, a year-on-year increase of 66.6% [3] - Hunan Youneng holds approximately 30% market share, leading the first tier of companies, while other companies like Wanrun New Energy and Defang Nano have market shares between 5%-10% [3] - Top 10 companies such as Anda Technology and Dangsheng Technology saw production growth exceeding 200%, while others like Youshan Technology and Fulin Shenghua surpassed 100% [3] Group 2: Battery Factory Developments - CATL and an Indonesian battery company have officially commenced construction of a joint battery factory in West Java, Indonesia, with an initial capacity of 6.9 GWh expected to be operational by the end of 2026 [4] - The project, known as the "Dragon Project," aims to support the production of batteries for 300,000 electric vehicles, with potential expansion to 40 GWh if additional production lines are approved [4] Group 3: Lithium Market Pricing Trends - Domestic lithium carbonate prices have shown fluctuations, with current prices ranging from 61,400 to 64,000 yuan per ton, influenced by market sentiment and supply conditions [8][9] - The price of phosphate iron lithium has slightly rebounded, currently priced between 29,900 and 31,000 yuan per ton, amid concerns of potential price reductions due to increased competition [10][11] Group 4: Strategic Agreements and Collaborations - Hainan Mining signed a lithium spodumene off-take agreement with LMLB, ensuring the sale of lithium spodumene from the Bukuni lithium mine project starting January 1, 2026 [5] - Fulin Precision and Sichuan Development Longmang have entered a cooperation framework agreement to establish a joint venture for high-pressure dense phosphate iron lithium projects [6] Group 5: Battery and Electric Vehicle Market Insights - In the latest week, domestic electric vehicle sales reached 296,000 units, with a penetration rate of 51.9% for new energy vehicles [17] - The domestic battery market remains stable, with expectations for demand to pick up in August, particularly in the energy storage sector [18]

Core Viewpoint - The lithium iron phosphate (LFP) market is expected to maintain high growth in 2025, with significant production increases and market share dynamics among leading companies [2]. Group 1: Market Growth and Production - In the first half of 2025, LFP production reached 1.632 million tons, representing a year-on-year increase of 66.6% [3]. - The top company, Hunan Youneng, holds approximately 30% market share, significantly leading the first tier of companies [5]. - Hunan Youneng produced over 400,000 tons, far ahead of other top five companies, which produced between 100,000 to 150,000 tons each [7]. Group 2: Company Performance and Potential - Among the top 10 companies, Andar Technology and Dangsheng Technology exhibited the highest growth rates, both exceeding 200% [9]. - Other companies like Youshan Technology, Fulian Shenghua, and Guoxuan High-Tech also showed growth rates above 100% [9]. - Companies such as Wanhua Chemical, Dangsheng Technology, Xiexin Lithium Battery, Bangpu Recycling, and Ruixiang New Materials are emerging with strong financial capabilities and market ambitions, indicating potential for significant market presence in the future [9].

Core Viewpoint - The article highlights the significant growth and competitive landscape of the lithium iron phosphate (LFP) battery industry in China, emphasizing the increasing market share of LFP batteries over ternary batteries due to their cost-effectiveness, safety, and evolving performance characteristics [1][3][7]. Group 1: Industry Overview - In Q1 2025, China's LFP cathode shipment reached 746,000 tons, marking an 88.9% year-on-year increase, driven primarily by demand in the power and energy storage sectors [1]. - The competitive landscape of the LFP cathode industry is characterized by a "one strong, many strong" structure, with Hunan Youneng leading the market with a share of 29.8%, followed by Wanrun New Energy, Defang Nano, Youshan Technology, and Guoxuan High-Tech, with a combined market share of 61.1% [1][3]. Group 2: Market Dynamics - The installation ratio of LFP batteries in China's power battery market reached 80.8% in Q1 2025, a 17 percentage point increase year-on-year, while the share of ternary batteries dropped to 19.2%, a decrease of 17 percentage points [3]. - The energy storage sector predominantly utilizes LFP batteries, with over 94% of installations being LFP, indicating a strong future demand for LFP technology [3][7]. Group 3: Technological Advancements - The LFP cathode has evolved through four generations, with the latest generation achieving a powder density of approximately 2.60 g/cm³ and a sheet density of about 2.75 g/cm³, enhancing energy density and performance [4][6]. - Companies are focusing on high-density LFP products, with several firms like Hunan Youneng and Wanrun New Energy making significant advancements in production techniques and partnerships to enhance product offerings [6][7]. Group 4: Future Projections - The LFP cathode shipment in China is projected to reach 3.3 million tons in 2025, representing a 36.3% year-on-year growth, with expectations to reach 7.1 million tons by 2030, indicating a compound annual growth rate of 19.6% over the next six years [6][7].

Group 1 - The company held its 13th meeting of the second board on June 20, 2025, via telecommunication, with all 9 directors participating, complying with the Company Law and the Articles of Association [2][14] - The board approved the proposal to cancel 104,965 shares of the second category of restricted stock due to the departure of 12 incentive targets and non-compliance of one target with the incentive criteria [2][15][42] - The board also approved the adjustment of the grant price for the 2024 restricted stock incentive plan from 17.012 yuan per share to 16.855 yuan per share [7][61][64] Group 2 - The board recognized that the conditions for the first vesting period of the 2024 restricted stock incentive plan have been met, allowing for the allocation of 3,549,651 shares to 264 eligible incentive targets [8][30][47] - The total number of restricted stocks granted under the incentive plan is 15,145,060 shares, with the first grant not exceeding 12,382,100 shares [27][41] - The vesting conditions include performance assessments based on net profit and sales growth of phosphate-based cathode materials over the years 2024 to 2026 [33][34][35]

Summary of Key Points Core Viewpoint The announcement details the achievement of the first vesting conditions for the 2024 restricted stock incentive plan of Hunan YN Energy Battery Materials Co., Ltd, allowing 264 eligible participants to receive a total of 3.549651 million shares, which represents 0.4688% of the company's total share capital. Group 1: Incentive Plan Overview - The incentive plan involves the issuance of restricted stock to eligible participants, with a total of 1,514.506 million shares initially planned, of which 1,238.210 million shares were designated for the first grant [1][2][10] - The vesting price for the restricted stock was adjusted from 17.43 yuan per share to 16.855 yuan per share [9][10] Group 2: Eligible Participants and Share Distribution - A total of 264 individuals are eligible for the first vesting period, with the distribution of shares as follows: - Chairman Tan Xinqiao: 1.21988 million shares - General Manager Zhao Huaqiu: 0.36597 million shares - Other executives and core personnel received the remaining shares [2][12][14] Group 3: Vesting Conditions and Performance Targets - The first vesting period is set from July 3, 2025, to July 2, 2026, with a vesting ratio of 30% for the first grant [12][14] - Performance targets for the first vesting period include a sales growth rate of at least 25% for phosphate cathode materials compared to 2023 [5][12] Group 4: Compliance and Approval - The board of directors and the supervisory board have approved the vesting conditions, confirming that all legal and regulatory requirements have been met [15][18] - The independent financial advisor has also confirmed that the conditions for the first vesting period have been satisfied [18]

证券代码：301358 证券简称：湖南裕能 公告编号：2025-035 湖南裕能新能源电池材料股份有限公司 关于调整 2024 年限制性股票激励计划相关事项的公告 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。 湖南裕能新能源电池材料股份有限公司（以下简称"公司"或"湖南裕能"） 于 2025 年 6 月 20 日召开第二届董事会第十三次会议、第二届监事会第十三次会 议，审议通过《关于调整 2024 年限制性股票激励计划相关事项的议案》，现就 有关事项公告如下: 一、本激励计划已履行的相关审批程序 （一）2024 年 4 月 18 日，公司召开第二届董事会第三次会议，审议并通过 《关于公司<2024 年限制性股票激励计划（草案）>及其摘要的议案》《关于公 司<2024 年限制性股票激励计划实施考核管理办法>的议案》《关于提请股东大 会授权董事会办理 2024 年限制性股票激励计划相关事宜的议案》。 同日，公司召开第二届监事会第三次会议，审议并通过《关于公司<2024 年 限制性股票激励计划（草案）>及其摘要的议案》《关于公司<2024 年限制性股 票激励计划实 ...

证券代码：301358 证券简称：湖南裕能 公告编号：2025-034 湖南裕能新能源电池材料股份有限公司 关于作废部分第二类限制性股票的公告 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。 湖南裕能新能源电池材料股份有限公司（以下简称"公司"或"湖南裕能"） 于 2025 年 6 月 20 日召开第二届董事会第十三次会议、第二届监事会第十三次会 议，审议通过《关于作废部分第二类限制性股票的议案》，根据《上市公司股权 激励管理办法》（以下简称"《管理办法》"）及公司《2024 年限制性股票激 励计划（草案修订稿）》（以下简称"《激励计划》"）等相关规定，公司将对 10.4965 万股第二类限制性股票进行作废处理，现就有关事项公告如下: 一、本激励计划已履行的相关审批程序 （一）2024 年 4 月 18 日，公司召开第二届董事会第三次会议，审议并通过 《关于公司<2024 年限制性股票激励计划（草案）>及其摘要的议案》《关于公 司<2024 年限制性股票激励计划实施考核管理办法>的议案》《关于提请股东大 会授权董事会办理 2024 年限制性股票激励计划相关事宜 ...