璞泰来：初步评估出口管制措施对公司业务影响较小

Core Viewpoint - The company has assessed the recent export control announcement by the Ministry of Commerce and the General Administration of Customs regarding lithium batteries and artificial graphite anode materials, concluding that the impact on its business will be minimal [1] Group 1: Automation Equipment Business - The company's automation equipment business is primarily domestic, with overseas revenue accounting for less than 0.5% of total revenue from January to August 2025, indicating a very small proportion [1] - The main products in the automation equipment segment include slurry, coating, and slitting equipment, which are not subject to the recent export controls [1] - Current overseas orders for mid-stage equipment, such as stacking and liquid injection, are limited in value, suggesting a minimal impact from the new regulations [1] Group 2: Anode Materials Business - From 2006 to 2023, domestic exports of artificial graphite have been conducted in accordance with export control regulations, with export volumes significantly increasing in response to market supply and demand [1] - There is no indication of a large-scale ban on exports, and the new regulations set to take effect in December 2023 will relax previous restrictions, allowing for the resumption of export license applications [1] - The company anticipates that the anode materials export business will not face negative impacts due to the expected return to previous operational models [1]