直击恩捷股份业绩说明会：国际化战略奠定未来发展基础 固态电池产业化需上下游共同发力

Core Viewpoint - The decline in terminal demand has led to a decrease in lithium battery material prices, putting overall pressure on the industry chain's performance [1] Group 1: Financial Performance - In 2024, the company achieved revenue of 10.164 billion yuan, a year-on-year decrease of 15.6%, and a net profit of -0.556 billion yuan, transitioning from profit to loss [1] - In Q1 of this year, the company recorded revenue of 2.729 billion yuan, a year-on-year increase of 17.23%, while net profit decreased by 83.57% to 25.9866 million yuan [1] Group 2: Global Expansion and Production Capacity - The company is actively expanding its global footprint, with production bases established in multiple locations including Shanghai, Zhuhai, and Hungary [1] - The overseas market is showing growth, with revenue from foreign regions reaching 2.213 billion yuan in 2024, a year-on-year increase of 9.73%, accounting for 21.78% of total revenue, up by 5.03 percentage points [2] - The company plans to construct a lithium battery coating separator factory in the U.S. with a planned capacity of approximately 700 million square meters, alongside additional projects in Hungary and Malaysia [2] Group 3: Technological Innovation - The company has been investing in cutting-edge technology research, particularly in solid-state battery innovations, and has achieved early commercialization of semi-solid separators [3] - A joint venture was established to focus on the research and production of semi-solid battery separator materials, with two coating production lines already built [3] - The company is also working on all-solid-state battery products, with pilot production lines for high-purity lithium sulfide underway [3] Group 4: Market Value Management - The company has implemented a market value management system aimed at achieving a dynamic balance between market value and intrinsic value [4] - From February 2 to July 30, 2024, the company repurchased shares worth nearly 200 million yuan, completing the cancellation of 5.9051 million shares [4] - Key executives have also increased their holdings in the company, with a total investment exceeding 200 million yuan [4]