ECH(SH:603200) Zheng Quan Shi Bao Wang·2025-08-04 11:18Core Viewpoint - Shanghai Xiba plans to establish a joint venture with Yuyuan Rare Earth to develop lithium sulfide business, with a registered capital of 200 million yuan, aiming to enhance its position in the advanced materials sector for solid-state batteries [1] Group 1: Joint Venture and Business Development - The new subsidiary will have a registered capital of 200 million yuan, with Shanghai Xiba contributing 165 million yuan (82.5%) and Yuyuan Rare Earth contributing 35 million yuan (17.5%) [1] - The joint venture will focus on new material technology research and manufacturing of electronic specialty materials [1] - Shanghai Xiba has been actively pursuing opportunities in the solid-state battery industry, having recently acquired assets related to lithium sulfide from Yuyuan Rare Earth [1] Group 2: Recent Activities and Financial Performance - In 2023, Shanghai Xiba has made several moves in the new energy sector, including plans to acquire patent assets related to high-energy hydrogen-electric hybrid power systems and specialty solid-state lithium-ion batteries [2] - The company has established two new subsidiaries with a registered capital of 10 million yuan each [2] - Despite the rising stock price driven by solid-state battery concepts, the company has indicated that this business has not yet generated stable revenue, with a first-quarter revenue of 103 million yuan, down 17.73% year-on-year, and a net profit of 9.83 million yuan, down 51.39% year-on-year [2] Group 3: Earnings Forecast - Shanghai Xiba expects a net profit of 99 million to 118 million yuan for the first half of the year, representing a year-on-year change of 136.47% to 181.85%, primarily due to an increase in non-recurring income [3]