湖南裕能新能源电池材料股份有限公司 简式权益变动报告书 上市公司名称：湖南裕能新能源电池材料股份有限公司 股票上市地点：深圳证券交易所 股票简称：湖南裕能 股票代码：301358 信息披露义务人：湘潭电化产投控股集团有限公司 住所：湖南省湘潭市昭山示范区昭山镇蒿塘村,芙蓉大道以东、金南街以北、 晴岚路以南昭山两型产业发展中心 1 单元 0601001 号南栋 124 号房 通讯地址：湘潭市岳塘区宝塔街道芙蓉路 3 号高新科技大厦 股份变动性质：增加（国有股权无偿划转） 签署日期： 2025 年 10 月 23 日 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国证券法》《上市公司收购管理办 法》《公开发行证券的公司信息披露内容与格式准则第 15 号——权益变动报告 书》及相关的法律、法规和规范性文件等编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》等的规定， 本报告书已全面披露信息披露义务人在湖南裕能新能源电池材料股份有限公司 中拥有权益的股份变动情况。 截至本报告书签署日，除本报告书披露的信息外，信息披露义务人没有增加 ...

湖南裕能新能源电池材料股份有限公司 简式权益变动报告书 上市公司名称：湖南裕能新能源电池材料股份有限公司 股票上市地点：深圳证券交易所 股票简称：湖南裕能 股票代码：301358 信息披露义务人：湘潭产业投资发展集团有限公司 住所：湖南省湘潭市岳塘区昭山镇蒿塘村,芙蓉大道以东、金南街以北、晴 岚路以南昭山两型产业发展中心 1 单元 0601001 号 通讯地址：湘潭市岳塘区宝塔街道芙蓉路 3 号高新科技大厦 股份变动性质：减少（国有股权无偿划转） 签署日期： 2025 年 10 月 23 日 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国证券法》《上市公司收购管理办 法》《公开发行证券的公司信息披露内容与格式准则第 15 号——权益变动报告 书》及相关的法律、法规和规范性文件等编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》等的规定， 本报告书已全面披露信息披露义务人在湖南裕能新能源电池材料股份有限公司 中拥有权益的股份变动情况。 截至本报告书签署日，除本报告书披露的信息外，信息披露义务人没有增加 或减少其在湖南裕能新 ...

证券代码：301358 证券简称：湖南裕能 公告编号：2025-049 湖南裕能新能源电池材料股份有限公司 关于披露简式权益变动报告书的提示性公告 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： 1、本次权益变动系湘潭产业投资发展集团有限公司（以下简称"产投集团"） 将其持有的湘潭振湘国有资产经营投资有限公司 100%股权无偿划转至湘潭电化 产投控股集团有限公司（以下简称"电化产投"），属于公司股东上层股权结构 调整。 2、本次权益变动不会导致公司控制权发生变化，公司仍为无控股股东、无 实际控制人，公司按同一控制合并后第一大股东仍为湘潭电化集团有限公司、湘 潭电化科技股份有限公司及湘潭振湘国有资产经营投资有限公司。 3、本次权益变动不会对公司正常生产经营产生不利影响。 一、本次权益变动的基本情况 湖南裕能新能源电池材料股份有限公司（以下简称"公司"）于近日收到产 投集团出具的告知函，根据湘潭市人民政府国有资产监督管理委员会出具的《关 于同意无偿划转湘潭振湘国有资产经营投资有限公司股权相关事项的批复》（潭 国资〔2025〕82 号），原则同意将产投集 ...

Group 1 - Hunan YN's stock price increased by 5.4%, reaching 56.79 CNY per share, with a trading volume of 875 million CNY and a turnover rate of 4.10%, resulting in a total market capitalization of 43.206 billion CNY [1] - Hunan YN New Energy Battery Materials Co., Ltd. is a major supplier of lithium-ion battery cathode materials in China, focusing on the research, production, and sales of lithium-ion battery cathode materials [1] - The company's main products include lithium iron phosphate and ternary materials, primarily used in the manufacturing of power batteries and energy storage batteries, with applications in the new energy vehicle and energy storage sectors [1] Group 2 - According to data, the fund "Yuanxin Yongfeng Fengtai" holds 6,800 shares of Hunan YN, unchanged from the previous period, representing 1.91% of the fund's net value, ranking as the eighth largest holding [2] - The fund has a total scale of 11.1051 million CNY and has achieved a return of 20.65% this year, ranking 4,075 out of 8,154 in its category [2] - The fund manager, Party Wei, has a tenure of 4 years and 29 days, with the best fund return during this period being 39.06% [3]

Core Viewpoint - Hunan YN's stock price has shown significant volatility, with a year-to-date increase of 19.23% but a recent decline of 7.30% over the last five trading days, indicating potential market fluctuations and investor sentiment shifts [1] Company Overview - Hunan YN New Energy Battery Materials Co., Ltd. is a major domestic supplier of lithium-ion battery cathode materials, focusing on research, production, and sales of lithium-ion battery cathode materials, primarily lithium iron phosphate and ternary materials [2] - The company's main revenue source is lithium iron phosphate, accounting for 98.04% of its total revenue, with applications in power batteries and energy storage batteries for electric vehicles and energy storage [2] Financial Performance - For the first half of 2025, Hunan YN reported operating revenue of 14.358 billion yuan, a year-on-year increase of 33.17%, while net profit attributable to shareholders decreased by 21.59% to 305 million yuan [2] - Since its A-share listing, Hunan YN has distributed a total of 737 million yuan in dividends [3] Shareholder Structure - As of June 30, 2025, the number of shareholders increased by 42.02% to 36,800, with an average of 10,429 circulating shares per person, a decrease of 29.59% [2] - Notable institutional shareholders include E Fund's ChiNext ETF and Southern CSI 500 ETF, with changes in their holdings reflecting market dynamics [3]

Investment Rating - The report assigns an "Overweight" rating for the electric heavy truck market [4]. Core Insights - The electric heavy truck market in China is experiencing rapid growth driven by the vehicle replacement policy, with a significant increase in penetration rates. The market is expected to continue expanding due to economic and environmental advantages [7][14]. - In Europe, stricter carbon emission regulations and supportive policies are accelerating the electrification of heavy trucks, with notable growth in sales and penetration rates [16][19]. - The U.S. market currently has a low level of electrification for heavy trucks, but growth is beginning to emerge due to government incentives [35]. Summary by Sections Investment Recommendations - The report highlights that the electric heavy truck market in China is set for explosive growth, benefiting the lithium battery industry and key material companies. Recommended stocks include CATL, BYD, Guoxuan High-Tech, Yiwei Lithium Energy, and others [7][8]. Electric Heavy Trucks: Policy Support and Economic Viability - Electric heavy trucks are gaining traction due to their zero emissions, low noise, and efficiency, making them increasingly popular among logistics and transportation companies. The comprehensive cost of electric trucks is becoming competitive compared to traditional fuel trucks, especially with government subsidies [9][13]. China: Growth Driven by Replacement Policies - In 2024, China's electric heavy truck sales reached 82,100 units, a 140% year-on-year increase, with penetration rates doubling to 13.61%. By 2025, sales continued to rise, with a total of 137,800 units sold in the first three quarters, marking a 184% increase [14]. Europe: Accelerated Electrification Due to Emission Regulations - The European market saw electric heavy truck sales exceed 3,000 units in 2023, a threefold increase from the previous year, with penetration rates surpassing 1%. The growth is supported by stringent emission regulations and the introduction of new models [19][27]. United States: Low Current Electrification Level - The U.S. electric heavy truck market remains at a low penetration rate of less than 1%. However, sales are projected to reach 1,103 units in 2024, a 34% increase from the previous year, driven by clean vehicle subsidy programs [35].

Group 1 - The company Hunan YN (301358) responded to investor inquiries on October 20, indicating that it discloses the number of shareholders at the corresponding reporting date in its periodic reports [1]

New Stock Offerings - The offer period for the acquisition of Shangwei New Materials (688585) is from September 29, 2025, to October 28, 2025[1] - The latest announcements for various stocks include BoRui Pharmaceutical (688166) and Nanxin Pharmaceutical (688189) on October 10, 2025[1] - Significant abnormal fluctuations were reported for Nanxin Pharmaceutical (688189) on October 10, 2025[1] Trading Alerts - A total of 30 stocks have trading alerts issued on October 20, 2025, including Anlikang (002940) and ST Baoying (002047)[1] - The trading alerts cover various sectors, indicating potential volatility in the market[1] - The latest announcements for stocks such as YD Holdings (000626) and ST Nanzhi (002305) were made on October 20, 2025[1]

Summary of the Conference Call on China Battery Materials Industry Overview - The report focuses on the **China Battery Supply Chain**, particularly the **Energy Storage System (ESS)** battery demand, which is experiencing significant growth [1] Key Insights - **Production Pipeline Growth**: The top-5 battery manufacturers are expected to see an **11% month-over-month (MoM)** increase in production in October 2025, marking the first double-digit MoM increment of the year [1] - **Battery Types Performance**: - **NCM (Nickel Cobalt Manganese) batteries** are projected to increase by **3% MoM** - **LFP (Lithium Iron Phosphate) batteries** are forecasted to surge by **14% MoM** [1] - **Downstream Demand**: The strong demand for ESS is driving the production pipeline for battery materials, which is expected to rise by **4-8% MoM** [1] Company Highlights - **Top Picks in Supply Chain**: The report identifies **CATL, EVE, CALB, and Hunan Yuneng** as the top companies in the battery materials supply chain [1] Financial Valuations - **CALB Group Co Ltd**: - Target price set at **HK$33.40** based on a **2026E P/E of 20.6x** - Concerns regarding lower gross profit margins compared to peers may affect valuation visibility [11] - **CATL**: - Valued at **HK$621/share** based on a **17.3x 2025E EV/EBITDA** - Target price implies **36.6x 2025E P/E** and **27.9x 2026E P/E** [13] - **Eve Energy**: - Target price set at **Rmb93.9/share** using a sum-of-the-parts approach, with a focus on battery business valuation at **15.3x 2026E EV/EBITDA** [16] - **Hunan Yuneng New Energy Battery Material**: - Valued at **Rmb57.9/share** based on a **14.4x 2026E EV/EBITDA** [19] Risks Identified - **General Risks**: - Weaker-than-expected battery demand - R&D challenges - Strong competition and operational challenges - Customer concentration and litigation risks [12][14][18][20] Additional Insights - The report emphasizes the importance of monitoring the **global ESS demand**, which is expected to continue influencing the battery materials market positively [1] - The production forecasts for various components of battery manufacturing, including cathodes, anodes, and electrolytes, are also projected to see increases of **8% MoM**, **5% MoM**, and **6% MoM**, respectively [5][10][7]

Core Insights - A new company, Hunan New Energy Materials Research Institute Co., Ltd., has been established with a registered capital of 40 million yuan [1] - The company is involved in new material technology research and promotion services, as well as investment activities using its own funds [1] - The shareholders include Xiangtan Electric (002125), Hunan Yuneng (301358), Zhejiang Remote New Energy Commercial Vehicle Group Co., Ltd., and Xiangtan Electric Investment Holding Group Co., Ltd. [1]