Senior(SZ:300568) Xin Lang Cai Jing·2025-10-13 03:10Core Viewpoint - Recently, Xingyuan Material received feedback from the CSRC regarding its overseas listing application, requiring the company to provide additional explanations and legal opinions from its lawyers [1] Company Overview - Xingyuan Material Technology Co., Ltd. is located in Shenzhen, Guangdong Province, and was established on September 17, 2003, with its A-share listing date on December 2016 [1] - The company operates in the electric equipment industry, specifically in battery and battery chemicals, and is involved in sectors such as aluminum-plastic film, solid-state batteries, lithium batteries, electronic skin, and new energy [1] Financial Performance - As of June 30, 2025, Xingyuan Material reported a revenue of 1.898 billion yuan, representing a year-on-year growth of 14.78% [1] - The company has distributed a total of 791 million yuan in dividends since its A-share listing, with 490 million yuan distributed over the past three years [1] - The number of shareholders increased to 115,200, up by 26.79%, while the average circulating shares per person decreased by 21.13% to 10,532 shares [1] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited is the second-largest circulating shareholder, holding 15.1284 million shares, a decrease of 1.1284 million shares from the previous period [2] Product Development and Partnerships - The company has made comprehensive layouts in the solid-state battery field, with its subsidiary Shenzhen Xinyuanbang Technology Co., Ltd. achieving mass production of oxide electrolytes, while sulfide and polymer electrolytes are in small batch supply [2] - The lithium battery separator technology is applicable to sodium-ion batteries, and the company maintains good cooperative relationships with sodium-ion battery enterprises [2] - The separator products have passed tests and audits by CATL and have begun small batch shipments of customized separator products with special performance [2] - The company focuses on the research and manufacturing of lithium-ion battery separators, possessing independent R&D capabilities in dry, wet, and coating methods, along with strong technical reserves [2] - Major clients include leading lithium-ion battery manufacturers such as LG Chem, CATL, Samsung SDI, BYD, and Guoxuan High-Tech [2]