云南一上市公司停牌！原因是→

Core Viewpoint - Enjie Co., Ltd. plans to acquire 100% equity of Zhongke Hualian, a manufacturer of lithium battery separator equipment, to enhance its vertical integration in the separator industry chain and address the anticipated capacity shortage in the lithium battery sector by 2026 [1][9]. Group 1: Acquisition Details - The acquisition will be executed through a share issuance and is expected to be disclosed within 10 trading days, with a deadline for resumption of trading by December 15, 2025, if not completed [1]. - Zhongke Hualian is recognized as a "little giant" enterprise focusing on wet lithium battery separator production solutions, previously listed on the New Third Board [5]. Group 2: Industry Context - The lithium battery industry is experiencing a recovery in demand, particularly in the energy storage market, which is expected to create a capacity gap in the second half of 2026 [1][11]. - Enjie Co., Ltd. currently holds a leading market share in the wet separator segment, with a production capacity of approximately 11 billion square meters by the end of 2024 [7]. Group 3: Production Capacity and Expansion - Zhongke Hualian's subsidiary, Qingdao Lanketu Membrane Materials Co., Ltd., has established production bases with a total capacity of around 2 billion square meters, with plans to reach 3 billion square meters by the end of 2026 [6]. - Enjie Co., Ltd. aims to integrate its separator equipment capabilities with Zhongke Hualian's advanced manufacturing technology to enhance production efficiency and capacity [9][12]. Group 4: Financial Performance - In the first three quarters of the year, Enjie Co., Ltd. reported a revenue increase of 27.85% to 9.543 billion yuan, but faced a net loss of 86.32 million yuan, primarily due to rising operating costs [13]. - The company's operating cash flow decreased by 61.81% to 877 million yuan, indicating increased pressure on working capital [13]. Group 5: Market Position - Enjie Co., Ltd. has been referred to as the "茅" of lithium battery separators, achieving a market capitalization of 544 billion yuan as of November 28 [8][14]. - The company has a diverse customer base, including major domestic and international battery manufacturers [7].