每经AI快讯，荣旗科技发布公告称，2026年1月8日、1月9日，荣旗科技接受国投证券等投资者调研， 公司副总经理、财务总监兼董事会秘书王桂杰女士参与接待，并回答了投资者提出的问题。 （记者 张明双） 每经头条（nbdtoutiao）——独家对话特斯拉FSD跨美第一人：4400公里"零接管"，手没碰过方向盘！作 为激光雷达销售员，他为何站队马斯克的"纯视觉"？ ...

Group 1: Company Overview and Product Information - Sichuan Lieneng Company focuses on the research, manufacturing, and sales of ultra-high hydraulic complete machinery, with main products including cold isostatic presses and hot isostatic presses [2][4] - Key applications for hot isostatic presses include MLCC and solid-state batteries, with major clients in the MLCC sector being Fenghua Advanced Technology, Sanhuan Group, and Shenzhen Yuyang, and in the solid-state battery sector being CATL, BYD, and Yiwei Lithium Energy [2][4] Group 2: Market Demand and Equipment Delivery - Sichuan Lieneng has delivered multiple hot isostatic presses to leading solid-state battery companies in 2024 and 2025, with good performance and acceptance reported [3][4] - The demand for hot isostatic presses is expected to significantly increase as more battery companies accelerate their solid-state battery layouts [4][5] Group 3: Technical Advantages and Industry Position - Sichuan Lieneng possesses systematic technical advantages with ultra-high pressure capabilities (up to 1200 MPa) for hot isostatic pressing, fully meeting the production needs of solid-state batteries [5][6] - The company has established a strong competitive edge in the industry by delivering equipment to several leading solid-state battery clients [6] Group 4: Growth Prospects and Client Orders - In the consumer electronics sector, the company has increased its equipment layout for smart glasses assembly, with precision assembly equipment for Meta smart glasses being delivered [6][7] - The order revenue from lithium battery testing business is expected to gradually increase, depending on acceptance progress and client expansion plans [6][7] - Orders from Apple for wireless charging, VC heat sinks, and smart glasses projects are stable, with a strong business relationship enhancing competitiveness for new detection equipment orders [6][7] Group 5: Innovations in Perovskite Technology - The company has successfully developed detection equipment for multiple processes in perovskite technology, with AI quality inspection equipment for perovskite module final inspection already delivered to key clients [6][7] - Industry insiders predict a positive outlook for production capacity planning in the coming year, which may lead to increased equipment shipments to meet client demands [6][7]

| 3.大额资金往来是否具有真实的交易背景及合理原因 | √ | | --- | --- | | 4.重大投资或者重大合同履行过程中是否不存在重大变化或 | √ | | 者风险 | | | 5.公司生产经营环境是否不存在重大变化或者风险 | √ | | 6.前期监管机构和保荐机构发现公司存在的问题是否已按相 √ | | | 关要求予以整改 | | | 二、现场检查发现的问题及说明 | | | 经本保荐机构现场检查，在本次现场检查涵盖的期间，未发现需要进一步整改 | | | 的事项。 | | | （以下无正文） | | 东吴证券股份有限公司 关于荣旗工业科技（苏州）股份有限公司 2025 年定期现场检查报告 保荐机构名称：东吴证券股份有限公司 被保荐公司简称：荣旗科技 保荐代表人姓名：王博 联系电话：0512-62938515 保荐代表人姓名：徐辚辚 联系电话：0512-62938515 现场检查人员姓名：王博、徐辚辚 现场检查对应期间：2025 年度 现场检查时间：2025 年 12 月 31 日 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、股东会、董事会规则及 ...

根据《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务（2025 年修订）》的要求，东吴证券作为荣旗科技持续督导工作的保荐机构，于 2025 年 12 月 31 日对荣旗科技的董事、高级管理人员、中层以上管理人员、公司控股 股东、实际控制人进行了现场培训。 东吴证券股份有限公司 关于荣旗工业科技（苏州）股份有限公司 2025 年度持续督导培训情况报告书 深圳证券交易所： 东吴证券股份有限公司（以下简称"东吴证券"或"我公司"）作为荣旗工 业科技（苏州）股份有限公司（以下简称"荣旗科技"或"公司"）创业板首次 公开发行股票的保荐机构，根据《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务（2025 年修订）》的相关规定，特对荣旗科技董事、高级管理人 员、中层以上管理人员、公司控股股东、实际控制人等进行了 2025 年度持续督 导培训。现将培训情况汇报如下： | 培训时间 | 年 2025 | 12 | 月 31 | 日 | | --- | --- | --- | --- | --- | | 培训地点 | 荣旗科技会议室 | | | | | 培训主题 | | | | 上市公司治理准则更新及减持 ...

Summary of Solid-State Battery Industry and Key Companies Industry Overview - The solid-state battery industry is at a critical inflection point, with significant advancements in technology and product offerings expected by 2026. The global lithium industry is projected to see a 30% increase in shipment volume, reaching 2,600 GWh by 2026, and potentially 5,000 GWh by 2030, necessitating a capacity expansion of over 1.5 times the current levels [1][4][7]. Key Developments - Verge showcased the TS Pro model equipped with a solid-state battery at CES, featuring a battery capacity of approximately 30 kWh, an energy density of 400 Wh/kg, and a city range exceeding 600 km. The model can achieve 80% charge in just 10 minutes and is aimed at the high-end overseas market [1][2][3]. - The first global solid-state electric scooter was launched by Chizhi Electric, demonstrating the advantages of solid-state batteries in energy density, range, and safety, with commercial and mass production potential [1][3]. Market Expectations - By 2030, solid-state batteries are expected to achieve a penetration rate of around 2%, with an estimated production of 100 GWh, and a unit value 2.5 times that of current liquid battery production lines [1][7]. - The solid-state battery sector is anticipated to catalyze growth in related equipment manufacturing, with companies like Xian Dao Intelligent and Lian Win Laser expected to see significant order increases in the coming years [2][4][8]. Company Insights - **Xian Dao Intelligent**: Anticipated to secure new orders of 250 billion yuan in 2025, with a growth forecast of 30%-40% in 2026, potentially reaching a minimum of 320 billion yuan. The company is expected to see improved profitability and stock price catalysts from its Hong Kong listing and solid-state battery equipment tours [2][8]. - **Lian Win Laser**: Holds a leading market share of 60%-70% in the Ningde Times sector, with new orders revised upwards to 50 billion yuan for 2025 and projected to reach 70-80 billion yuan in 2026, reflecting a year-on-year growth of 40%-50% [2][9]. - **Rongqi Technology**: Dominates over 70% of the AI quality inspection market for Ningde Times, with expected revenue from this segment reaching around 300 million yuan in 2026. The company is also expanding its business with Meta and other new orders, which could lead to a revenue increase of 60%-70% [2][12]. Investment Recommendations - Investors are advised to focus on companies that can adapt to the expanding production demands and have significant flexibility in the solid-state battery sector. Xian Dao Intelligent is highlighted as a top pick due to its substantial market capitalization and growth potential [8]. Additional Considerations - The solid-state battery industry is expected to undergo significant technological advancements, with new products demonstrating high energy density, long range, and rapid charging capabilities, which will positively impact the overall market [6][7]. - Companies like Rongqi Technology are making strides in solid-state battery production equipment and materials, which could enhance their competitive edge in the market [14]. This summary encapsulates the key points from the conference call regarding the solid-state battery industry and the companies involved, highlighting the optimistic outlook and potential investment opportunities.

Core Viewpoint - The A-share market opened positively in 2026, with the ChiNext Index leading gains and the Shanghai Composite Index surpassing 4000 points, marking a twelve-day consecutive rise [1] Market Performance - The commercial aerospace sector showed significant activity, with multiple stocks hitting the 20% daily limit up, including LeiKe Defense, China Satellite Communications, and others [1] - Notable stocks that achieved daily limit up include HaiGe Communication, Galaxy Electronics, and others, totaling around 20 stocks [1] Industry Developments - According to CCTV news, China's new aerospace blueprint is unfolding, with plans for manned lunar missions and the Chang'e 7 mission aimed at finding evidence of water ice on the Moon's south pole [1] - Multiple new rocket types are set to make their maiden flights and challenge recovery capabilities, indicating a strong push towards becoming a leading space power [1] Investment Opportunities - Open Source Securities Research Institute highlights that leading commercial aerospace companies, such as SpaceX and Tianbing Technology, plan to advance their IPO processes in 2026 [1] - The commercial aerospace sector is becoming a new hotspot in the capital market, driven by dual support from policy and industry development [1]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [2][8] Core Insights - The company focuses on providing intelligent detection and assembly equipment based on machine vision and "optomechatronics" technologies, with significant growth expected in both consumer electronics and new energy sectors [7][17] - The company has established strong relationships with major clients such as Apple, Meta, and Amazon, positioning itself well in the market for smart glasses and wireless charging equipment [7][43] - The report anticipates a recovery in demand for AI quality inspection equipment in the new energy sector, particularly in solid-state battery production, which is expected to drive future growth [7][8] Financial Data and Profit Forecast - Total revenue projections for 2024 to 2027 are as follows: 371 million, 404 million, 591 million, and 683 million respectively, with growth rates of 1.7%, 9.1%, 46.2%, and 15.5% [5][8] - Net profit forecasts for the same period are 45 million, 40 million, 86 million, and 114 million, with corresponding growth rates of 1.6%, -11.0%, 115.4%, and 31.9% [5][8] - The company’s earnings per share are projected to be 0.84, 0.75, 1.61, and 2.13 respectively for the years 2024 to 2027 [5][8] Market Position and Growth Potential - The company is positioned to benefit from the expected growth in the Chinese machine vision market, projected to exceed 200 billion yuan by 2025, with a compound annual growth rate of approximately 20.76% from 2024 to 2028 [18][21] - The company has a stable revenue base from its consumer electronics segment, which currently accounts for about 80% of its income, while the new energy segment is expected to grow significantly [7][17] - The report highlights the potential for increased orders from Meta for smart glasses assembly equipment, which could significantly enhance the company's revenue streams [7][8] Competitive Landscape - The company maintains a leading position in the wireless charging and VCM detection sectors, with its products integrated into the supply chains of major clients [50][61] - The report notes that the company’s advanced detection equipment is crucial for ensuring product quality and consistency in high-volume production environments [56][61] - The anticipated growth in the solid-state battery market presents a new avenue for revenue, as the company is actively developing inspection equipment for this emerging sector [7][8]

Core Insights - The report highlights a recovery in the lithium battery equipment sector driven by traditional lithium battery expansion and the surge in energy storage demand, with expectations for a new cycle of prosperity in 2026 as solid-state battery technology approaches commercialization [1][2]. Group 1: 2025 Review - The lithium battery equipment sector saw a significant stock price increase of 98.60% from January 1, 2025, to December 15, 2025, outperforming the CSI 300 and ChiNext indices [11]. - The recovery in the lithium battery sector is attributed to a surge in energy storage demand, driven by supportive policies, overseas market growth, and new application scenarios [14][19]. - The sector's performance is expected to continue improving as downstream battery manufacturers resume operations and expand production [19][23]. Group 2: 2026 Outlook - The solid-state battery industry is nearing a critical commercialization point, with equipment and material breakthroughs anticipated to create new demand for production equipment [3][28]. - The solid-state battery equipment market is projected to reach 59.216 billion yuan by 2030, with a compound annual growth rate (CAGR) of 103% from 2024 to 2030 [46][49]. - Key players in the lithium battery equipment sector include leading companies such as XianDiao Intelligent, Winbond Technology, and others, focusing on various segments of the production process [3][48]. Group 3: Investment Recommendations - The report suggests focusing on companies that are well-positioned in the equipment supply chain, particularly those involved in solid-state battery production and related technologies [3][48]. - The investment strategy emphasizes the "shovel seller" logic, where companies providing essential equipment for the solid-state battery industry are expected to benefit significantly as the market expands [3][48].

Core Insights - On December 2, 2023, brokerage firms provided target prices for listed companies, with notable increases for Xianhui Technology, Kweichow Moutai, and Delong股份, showing target price increases of 42.61%, 42.06%, and 36.94% respectively, across the battery, liquor, and automotive parts industries [1][2]. Target Price Increases - The companies with the highest target price increases are: - Xianhui Technology (688155) with a target price of 84.00 and an increase of 42.61% [2] - Kweichow Moutai (600519) with a target price of 2040.00 and an increase of 42.06% [2] - Delong股份 (300473) with a target price of 38.59 and an increase of 36.94% [2] - A total of 15 listed companies received brokerage recommendations on December 2, with Mengbaihe, Aladdin, and Jiuzhou Pharmaceutical each receiving one recommendation [2]. Rating Adjustments - On December 2, one company had its rating upgraded, specifically China Resources Sanjiu (0009999), which was upgraded from "Hold" to "Buy" by Western Securities [3][4]. First-Time Coverage - Nine companies received first-time coverage from brokerages on December 2, including: - Mengbaihe (603313) rated "Hold" by Industrial Securities [5] - Jiuzhou Pharmaceutical (603456) rated "Buy" by Xiangcai Securities [5] - Delong股份 (300473) rated "Buy" by Northeast Securities [5] - Others include Minshida, Tongfu Microelectronics, Xianhui Technology, Rongqi Technology, Tianyue Advanced, and Beifang Huachuang, all receiving various ratings [5].

Group 1: Financial Performance - The company's net profit increased by 130.46%, primarily driven by strong performance in the consumer electronics and new energy sectors [2] - The increase in inventory by 176.99% indicates expectations of future market demand, supported by existing orders [3] - Operating cash flow decreased significantly by 144.59% in Q3, attributed to increased orders leading to higher inventory and payment for materials and salaries [5] Group 2: Business Segments - In the consumer electronics sector, the company is preparing for mass production of smart glasses for Meta, with expected significant order growth next year [2] - The new energy sector is benefiting from customer expansion plans, with anticipated continued order growth in lithium battery testing [2] - The company is also exploring solid-state battery testing equipment, with initial projects already underway [3] Group 3: Strategic Plans - The company is actively seeking mergers and acquisitions to extend its main business and achieve synergistic development, while being cautious and considering various factors [5] - There is a focus on maintaining relationships with existing clients in the new energy sector, particularly CATL, while also monitoring other potential clients [4] - The joint venture with Dongguan Hongli Yourong Technology Co., Ltd. aims to develop and promote new battery materials and systems [6]