证券代码：301358 证券简称：湖南裕能 公告编号：2024-060 湖南裕能新能源电池材料股份有限公司 第二届董事会第十次会议决议公告 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、董事会会议召开情况 湖南裕能新能源电池材料股份有限公司（以下简称"公司"）第二届董事会 第十次会议于 2024 年 12 月 18 日以通讯表决的方式召开，会议通知于 2024 年 12 月 13 日以电话、微信等方式发出。本次会议应参加董事 9 人，实际参加董事 9 人。会议的召开符合《中华人民共和国公司法》和《公司章程》的规定。 二、董事会会议审议情况 经各位董事审议表决，通过如下决议： 1、通过《关于调整公司向特定对象发行股票方案的议案》 为顺利推动公司向特定对象发行股票工作，根据当前市场环境及公司实际情 况，并结合相关法律、法规、规范性文件，同意公司对本次向特定对象发行股票 拟募集资金金额及募投项目作相应调整，本次向特定对象发行股票方案的其他内 容无变更。具体调整内容如下： 调整前： | 序号 | 项目名称 | | 项目投资总额 | 拟使用募集 资金金额 | | ...

证券代码：301358 证券简称：湖南裕能 公告编号：2024-064 湖南裕能新能源电池材料股份有限公司 关于公司向特定对象发行股票预案 修订情况说明的公告 1 | 章节 | 章节内容 | 修订情况 | | --- | --- | --- | | 特别提示 | 特别提示 | 1、更新本次向特定对象发行已 | | | | 履行审批程序、尚待履行审批程 | | | | 序 | | | | 2、修订本次向特定对象发行股 | | | | 票募集资金总额上限及募集资 | | | | 金投向安排 | | 释义 | 释义 | 1、修订本预案、预案所指含义 | | | | 2、补充部分释义 | | | 二、本次向特定对象发行的背景 及目的 | 1、更新部分行业、业务及财务 | | | | 数据 | | 第一节 本次向特 | | 2、调整部分表述 | | 定对象发行股票方 | | 修订本次向特定对象发行股票 | | 案概要 | 五、募集资金用途 | 募集资金总额上限及募集资金 | | | | 投向安排 | | | 八、本次发行的审批程序 | 更新本次向特定对象发行已履 | | | | 行审批程序、尚待履行审批程序 修订本次向 ...

中信建投证券股份有限公司 关于湖南裕能新能源电池材料股份有限公司 | 保荐人名称：中信建投证券股份有限公司 被保荐公司简称：湖南裕能 | | | | | --- | --- | --- | --- | | 保荐代表人姓名：张帅 联系电话：010-56051435 | | | | | 保荐代表人姓名：胡德波 联系电话：010-65608237 | | | | | 现场检查人员姓名：张帅，胡德波，赵毅，李立波 | | | | | 现场检查对应期间：2024 年度 | | | | | 现场检查时间：2024 年 月 日-12 月 日 12 3 4 | | | | | 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：查阅公司章程、公司治理的相关规章制度，并查阅公司相关的三会会议资料 | | | | | 及信息披露文件，访谈管理层 | | | | | 1.公司章程和公司治理制度是否完备、合规 | 是 | | | | 2.公司章程和三会规则是否得到有效执行 | 是 | | | | 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 ...

Group 1: Company Performance and Production Capacity - The company is currently operating at full production capacity due to strong downstream demand, driven by supportive policies such as trade-in programs [3] - New production capacity will focus on new products to meet differentiated downstream demands [3] - The CN-5 series targets energy storage applications, featuring long cycle life and excellent low-temperature performance, aligning with the trend towards larger battery cells [3][4] Group 2: New Product Development - The YN-9 series is designed for power battery applications, enhancing material density while ensuring capacity and rate performance [4] - The company’s new product series has a strong competitive advantage in differentiation and is at the forefront of performance and industrialization processes [4] Group 3: Future Projects and Market Expansion - The Huangjiapo phosphate mine is expected to achieve large-scale production in the second half of next year [4] - The company plans to innovate in copper smelting, with an initial capacity of 200,000 tons/year for copper smelting and 800,000 tons/year for sulfuric acid and steam [4] - The company sees increasing recognition of lithium iron phosphate batteries in overseas markets, with plans to advance the Spanish project and engage with international battery manufacturers [4]

Investment Rating - The report assigns a "Buy" rating for the company, with a target price of 58.3 CNY based on a PE of 23x for 2025 [3][5]. Core Insights - The company holds a leading market share of 27% in lithium iron phosphate (LFP) in 2023, maintaining profitability amidst significant losses in the industry [1][16]. - The company benefits from strong cost control and operational efficiency, with a focus on high-density products that cater to the growing demand for fast-charging and energy storage solutions [2][17]. - The company has established deep partnerships with major clients like CATL and BYD, enhancing customer loyalty and sales stability [2][17]. Summary by Sections 1. Introduction - The lithium iron phosphate industry is expected to see improved profitability due to rising operating rates and demand recovery, with the company positioned to benefit from these trends [16]. 2. Lithium Iron Phosphate Market - The production capacity of lithium iron phosphate in China has significantly increased, with a CAGR of 84% from 2018 to 2023, leading to a potential recovery in profitability as supply-demand dynamics improve [19]. 3. Company Overview - The company has achieved a market share of 27% in lithium iron phosphate, leveraging its integrated supply chain and cost advantages [31][47]. - The company has implemented a strategy of self-supply for key raw materials, enhancing its cost structure and operational efficiency [1][47]. 4. Product Development - The company focuses on high-density lithium iron phosphate products, which are essential for both electric vehicle and energy storage applications, with plans to expand production capacity in Spain [2][17]. 5. Client Relationships - The company has secured long-term supply agreements with leading battery manufacturers, ensuring a stable revenue stream and increased market presence [2][17]. 6. Financial Forecast and Valuation - Revenue projections for 2024-2026 are 28.48 billion, 38.38 billion, and 47.95 billion CNY, with corresponding net profits of 850 million, 1.92 billion, and 2.72 billion CNY, reflecting a recovery trajectory [3][4].

Group 1: Production and Sales Outlook - The company expects strong growth in both the energy storage and power battery sectors, benefiting from supportive policies such as trade-in programs, with full production and sales achieved [1] - For 2025, the company plans to adjust production capacity based on market conditions, aiming to synchronize with industry growth and meet the demand for high-end and differentiated products [1] Group 2: Pricing and Market Dynamics - New products offer superior performance, leading to a stronger pricing advantage compared to standard products [2] - The company anticipates volatility in lithium carbonate prices due to a supply-demand imbalance, with plans to maintain normal inventory levels to ensure smooth operations [2] Group 3: International Expansion - The company is steadily advancing the preparatory work for its project in Spain, capitalizing on the growing recognition of lithium iron phosphate batteries in overseas markets [2]

证券时报e公司讯，湖南裕能近日在接待机构调研中表示，随着行业进入"金九银十"的传统旺季，叠加 以旧换新及地方补贴等支持性政策的有力促进，新能源汽车渗透率、储能电池装机规模都保持了较好增 长，目前行业高景气度仍在延续，公司产品产销两旺。 ...

证券代码：301358 证券简称：湖南裕能 湖南裕能新能源电池材料股份有限公司 投资者关系活动记录表 编号：2024-039 | --- | --- | --- | |-----------------------|----------------------------------------------------------|-----------------------------------------------------------------------------------| | 投资者关系活 动类别 | □ 特定对象调研 □ □ 媒体采访 □ □ 新闻发布会 □ 现场参观 | 分析师会议 业绩说明会 路演活动 | | | □ ☑ 其他（电话会议） | | | | 参与单位名称中银基金、东吴证券 | | | 时间 | 2024 年 11 月 11 日 | | | 地点 | 电话会议 | | | 上市公司接待 人员姓名 | 董事、常务副总兼董事会秘书 证券事务代表 何美萱 | 汪咏梅 | | | 1 | 、请问公司目前销售情况如何？ 回复：随着行业进入"金九银十"的传统旺季，叠加以旧换新 ...

证券代码：301358 证券简称：湖南裕能 湖南裕能新能源电池材料股份有限公司 投资者关系活动记录表 编号：2024-040 | --- | --- | --- | |---------------------|---------------------------------------------------------------|------------------------------------------------------------| | 投资者关系活 动类别 | □ 特定对象调研 □ □ 媒体采访 □ □ 新闻发布会 □ □ 现场参观 | 分析师会议 业绩说明会 路演活动 | | | ☑ 其他（电话会议） 参与单位名称国寿资管、长盛基金 | | | 时间 | 2024 年 11 月 11 日 | | | 地点 | 电话会议 | | | 上市公司接待 | 董事、常务副总兼董事会秘书 | 汪咏梅 | | 人员姓名 | 证券事务代表 何美萱 | | | | 1 | 、请问公司第三季度客供碳酸锂比例是多少？ | | | | 回复：公司主要根据实际生产需要和市场情况来调整碳酸锂的 | | | ...

Investment Rating - The report assigns a "Buy" rating for Hunan YN Energy (301358.SZ) [1]. Core Views - Hunan YN Energy is a leading player in the lithium iron phosphate (LFP) market, with significant growth potential due to its integrated layout aimed at cost reduction [1][4]. - The company has experienced rapid revenue growth from 2018 to 2022, driven by strong demand in the new energy vehicle and energy storage markets [3][17]. - The report forecasts a continued increase in global demand for LFP, with expected demand volumes of 2.21 million tons and 3.07 million tons in 2024 and 2025, respectively, reflecting year-on-year growth rates of 41% and 39% [3][26]. Summary by Sections Company Overview - Hunan YN Energy is a leading domestic supplier of lithium iron phosphate materials, with a focus on new energy vehicles and energy storage applications. The company has five production bases across China and has ranked first in LFP shipments for four consecutive years from 2019 to 2023 [13][17]. Revenue and Profit Structure - From 2018 to 2022, the company's revenue surged from 160 million to 42.79 billion yuan, while net profit increased from 10 million to 3.01 billion yuan. The primary driver of this growth has been the robust demand for LFP products in the new energy vehicle and energy storage sectors [17][18]. Market Dynamics - The LFP market is expected to maintain rapid growth, with Hunan YN Energy holding a 32% market share in 2023, making it the global leader in LFP production. Competitors such as Deyang Nano and Hubei Wanrun follow with market shares of 14% and 10%, respectively [23][24]. Production Capacity and Utilization - The company has maintained a high capacity utilization rate of around 90% from 2019 to 2023, with significant orders supporting its production expansion. The LFP output increased from 13,000 tons in 2019 to 504,000 tons in 2023, reflecting a compound annual growth rate of 149.5% [3][5]. Upstream Integration - Hunan YN Energy is actively integrating upstream by acquiring resources such as iron phosphate and phosphate mines, which is expected to lower production costs and enhance competitiveness in the LFP market [4][5]. Financial Projections - The report projects revenues of 22.31 billion, 27.29 billion, and 32.91 billion yuan for 2024, 2025, and 2026, respectively, with corresponding net profits of 805 million, 2.24 billion, and 3.01 billion yuan [1][5].