Core Viewpoint - The company Mengguli plans to raise a total of 980 million yuan through a private placement to fund its lithium-ion battery materials projects and enhance liquidity [1][2]. Group 1: Fundraising and Investment Projects - The total amount to be raised is capped at 980 million yuan, which will be allocated to specific projects and working capital [1]. - The investment breakdown includes 886.46 million yuan for an annual production capacity of 30,000 tons of lithium-ion battery cathode materials and 120 million yuan for working capital [1][2]. - The private placement will involve up to 35 specific investors, including the controlling shareholder Hengtong New Energy, which plans to invest 200 million yuan in cash [1]. Group 2: Production Capacity Expansion - Upon project completion, Mengguli will add new production capacities of 15,000 tons per year for ultra-high nickel ternary materials, 10,000 tons per year for NCA materials, and 5,000 tons per year for high-voltage lithium cobalt oxide [2].

Core Viewpoint - The solid-state battery sector is gaining significant attention in the capital market as a key direction for technological upgrades in high-end manufacturing, with a notable increase in stock performance and fund values [1]. Investment Performance - As of September 12, the solid-state battery sector has seen a rise of over 17% in the past month, with several stocks such as Yinghe Technology, Shanshan Co., and Baili Technology hitting the daily limit [1]. - Funds heavily invested in the solid-state battery field have also experienced substantial gains, with the Yuanxin Yongfeng High-end Manufacturing A fund's net value increasing by over 33% as of September 11 [1]. Industry Outlook - The lithium battery industry is currently in a bottoming phase, with the solid-state battery's industrialization process approaching. The profitability of the supply chain is expected to confirm a bottom recovery by the third quarter of 2024 [1]. - The solid-state battery sector is projected to enter a critical pilot testing phase in 2025, with mass production anticipated in 2026 [1]. - The sector is seen as having significant growth potential and long-term investment value, benefiting from national policy support and being at a crucial juncture for global energy transition and technological self-innovation [1].

Core Points - The Shanghai Composite Index is at 3881.52 points, above the five-day moving average, with a slight increase of 0.16% [1] - The total trading volume of A-shares today is 20,744.93 billion yuan, with 378 A-shares breaking through the five-day moving average [1] Summary by Category Stock Performance - The top three stocks with the highest deviation rates from the five-day moving average are: - Mengguli (盟固利) with a deviation rate of 10.01% and a price increase of 14.25% [2] - Nuocheng Jianhua (诺诚健华) with a deviation rate of 9.72% and a price increase of 12.72% [2] - Zhaoxin Co. (兆新股份) with a deviation rate of 8.44% and a price increase of 10.10% [2] Trading Activity - The trading turnover rates for the top three stocks with the highest deviation rates are: - Mengguli (盟固利) at 24.56% [2] - Nuocheng Jianhua (诺诚健华) at 6.63% [2] - Zhaoxin Co. (兆新股份) at 10.18% [2] Additional Stocks - Other notable stocks with significant price increases and deviation rates include: - Anglikang (昂利康) with a 10.00% increase and an 8.04% deviation rate [2] - Toukeng Life (透景生命) with a 10.43% increase and an 8.01% deviation rate [2] - Huafu Fashion (华孚时尚) with a 10.06% increase and a 7.89% deviation rate [2]

Core Viewpoint - The company Mengguli (301487.SZ) plans to issue A-shares to specific investors, including its controlling shareholder Hengtong New Energy, aiming to raise up to 980 million yuan for projects including a lithium-ion battery cathode material project and to supplement working capital [1][2]. Group 1: Share Issuance Details - The share issuance will involve no more than 35 specific investors, with Hengtong New Energy participating in cash subscription for 200 million yuan [1][4]. - The total number of shares issued will not exceed 30% of the company's total share capital prior to the issuance [2]. - The pricing for the shares will be set at no less than 80% of the average trading price over the 20 trading days prior to the issuance date [1]. Group 2: Fund Allocation - The total investment for the lithium-ion battery cathode material project is approximately 886.46 million yuan, with 860 million yuan expected to be raised from this issuance [3]. - An additional 120 million yuan will be allocated to supplement the company's working capital, bringing the total planned fundraising to 980 million yuan [2][3]. Group 3: Shareholder Structure - Hengtong New Energy currently holds 33.79% of the company's shares directly and controls an additional 2.87% indirectly, totaling 36.67% [4]. - The issuance will not change the controlling shareholder or actual controllers of the company, as Hengtong New Energy will remain the controlling shareholder post-issuance [4]. Group 4: Financial Performance - For the first half of 2025, the company reported revenue of 1.018 billion yuan, a year-on-year increase of 23.19%, while net profit attributable to shareholders decreased by 60.87% to 3.04 million yuan [17][18]. - The net profit after excluding non-recurring items fell by 70.57% to 1.84 million yuan [18].

9月12日，盟固利涨5.25%，截至发稿，报26.45元/股，成交3.98亿元，换手率5.73%，总市值121.57亿 元。 资料显示，天津国安盟固利新材料科技股份有限公司位于天津市宝坻区九园工业园9号路，成立日期 2009年11月18日，上市日期2023年8月9日，公司主营业务涉及锂电池正极材料的研发、生产和销售,主 要产品为应用于消费领域的钴酸锂和应用于动力电池领域的三元材料。主营业务收入构成为：锂电材料 99.80%，其他业务0.20%。 从盟固利十大流通股东角度 数据显示，华夏基金旗下1只基金位居盟固利十大流通股东。华夏中证1000ETF（159845）二季度增持 48.52万股，持有股数124.98万股，占流通股的比例为0.46%。根据测算，今日浮盈赚取约164.97万元。 华夏中证1000ETF（159845）成立日期2021年3月18日，最新规模382.27亿。今年以来收益25.44%，同 类排名1893/4222；近一年收益66.57%，同类排名1277/3800；成立以来收益26.21%。 华夏中证1000ETF（159845）基金经理为赵宗庭。 截至发稿，赵宗庭累计任职时间8年151天，现 ...

Group 1 - XianDao Intelligent has announced that there is uncertainty in the advancement of its solid-state battery-related business, as the global solid-state battery industry is still in the technology iteration and industrialization preparation stage, not yet entering large-scale production [1] - MengGuli has achieved batch supply of NCA products in the humanoid robot battery field in the first half of the year and is actively developing solid-state battery materials, indicating innovation strength in new energy battery technology [2] - Zhiyuan New Energy's controlling shareholder's concerted actor Wang Ran plans to reduce his stake in the company by no more than 3% within three months, which may impact market sentiment and the company's control structure [3] Group 2 - The solid-state battery sector is currently experiencing high market attention, but companies are advised to maintain a rational perspective on the actual industry situation and avoid blind speculation [1] - MengGuli's successful verification of its technology by leading enterprises lays a foundation for future development in the battery sector [2] - Investors should monitor the potential impacts of share reductions on the company's strategic direction and overall business development [3]

Core Viewpoint - The company is focusing on the development and commercialization of advanced battery materials, particularly in the context of the growing electric vehicle market and the transition to solid-state batteries. Research and Technology Development - In the first half of 2025, the company achieved a breakthrough in sales with over a thousand tons of patented technology applied in humanoid robot batteries, contributing to revenue and profit growth [2] - The company is pursuing multiple technological routes in the cathode materials sector, emphasizing high nickel and single crystal materials while also exploring medium nickel high voltage and polycrystalline materials [2] Competitive Strategy and Solid-State Battery Progress - The company is implementing a high-end and differentiated competition strategy for its ternary cathode materials, positioning itself in the leading tier of the small power sector [3] - Solid-state electrolyte products have completed technical standardization and passed pilot testing with leading solid-state battery companies, indicating potential applications across various fields [3] Product Matrix and Sodium Battery Development - In response to the changing market dynamics post the 50% penetration rate of electric vehicles, the company is advancing its cathode material R&D to create a diverse product matrix [4] - The sodium battery cathode materials are being developed using both layered oxide and polyanion dual technology routes, with the first generation showing significant performance advantages [4] Capacity Utilization and Client Relationships - The capacity utilization rates for ternary materials and lithium cobalt oxide were reported at 72.25% and 93.82% respectively, with no structural capacity bottlenecks identified [5] - The company is actively expanding production to address potential capacity shortages for next-generation materials, maintaining stable client concentration among its top five customers [5] Cost Control and Business Model Innovation - The company has established a raw material price monitoring mechanism and optimized procurement strategies to mitigate price volatility risks [6] - Strategic partnerships with upstream and downstream players are being pursued to enhance collaboration through capital cooperation [6] R&D Investment and Future Plans - R&D expenses in the first half of 2025 reached 47.57 million yuan, reflecting a year-on-year increase of 45.57%, with key technological breakthroughs achieved across multiple fields [7] - The company will continue to focus on the core business of new energy battery materials, promoting the iteration and industrialization of cathode materials, solid-state electrolytes, and lithium supplementation agents [7]

华泰联合证券有限责任公司 关于天津国安盟固利新材料科技股份有限公司 二、保荐人发现公司存在的问题及采取的措施 | 事项 | 存在的问题 | 采取的措施 | | --- | --- | --- | | 1.信息披露 | 无 | 不适用 | | 2.公司内部制度的建立和执行 | 无 | 不适用 | | 3."三会"运作 | 无 | 不适用 | | 4.控股股东及实际控制人变动 | 无 | 不适用 | | 5.募集资金存放及使用 | 无 | 不适用 | | 6.关联交易 | 无 | 不适用 | | 7.对外担保 | 无 | 不适用 | 2 2025 年半年度持续督导跟踪报告 | 保荐人名称：华泰联合证券有限责任公司 | 被保荐公司简称：盟固利 | | --- | --- | | 保荐代表人姓名：何森 | 联系电话：010-56839300 | | 保荐代表人姓名：刘天宇 | 联系电话：010-56839300 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次 ...

Group 1 - The company announced that in the first half of the year, it achieved bulk supply of NCA products for humanoid robot batteries [1] - The company is actively developing solid-state battery materials, including LATP solid electrolytes and high nickel/230 ultra-high nickel ternary materials, which have passed pilot testing certification from leading enterprises [1] - The company has also developed sodium-layered oxide and composite sodium iron phosphate products for applications in small power systems and energy storage [1]

Group 1: Research and Development Achievements - The company achieved a breakthrough sales volume of over 1,000 tons for NCA products in the first half of 2025, contributing positively to revenue and profit growth [3] - R&D expenses reached 47.57 million CNY in the first half of 2025, marking a year-on-year increase of 45.57% [10] - The company has developed LATP solid electrolyte materials with high ionic conductivity and controllable particle size, which are expected to be applied in various battery fields [5][6] Group 2: Market Position and Competitive Strategy - The company’s ternary cathode materials are primarily focused on high nickel and single crystal technology, with ongoing research in medium nickel high voltage and polycrystalline materials [4] - The company maintains a leading position in the small power sector and aims to innovate and iterate its third and fourth generation NCA products [5] - The first half of 2025 saw a capacity utilization rate of 72.25% for ternary materials and 93.82% for lithium cobalt oxide, indicating no structural capacity bottlenecks [8] Group 3: Product Development and Customer Engagement - The company is developing sodium-ion battery cathode materials, with the first generation product achieving energy density exceeding 180 Wh/kg [7] - The top five customers' concentration remained stable in the first half of 2025, with significant breakthroughs in new customer development [9] - The company plans to enhance its product matrix to meet diverse customer needs as the penetration rate of new energy vehicles exceeds 50% [7] Group 4: Supply Chain and Cost Management - The company has implemented a dynamic monitoring mechanism for raw material prices, ensuring sensitivity to market changes [9] - Strategies such as long-term contracts and supply chain finance have been employed to mitigate cost fluctuations, particularly for lithium carbonate [9] Group 5: Future Development Plans - The company will continue to focus on its core business of new energy battery materials, promoting the iteration and industrialization of cathode materials and solid electrolytes [10]