锂电隔膜龙头恩捷股份筹划并购 拟购买中科华联100%股权

Core Viewpoint - Enjie Co., Ltd. is planning to acquire 100% equity of Qingdao Zhongke Hualian New Materials Co., Ltd. and raise matching funds, indicating a strategic move to extend its upstream supply chain capabilities [2][5][6] Company Summary - Enjie Co., Ltd. is a leading manufacturer of lithium battery separators, holding the largest market share globally and excelling in production scale, cost control, and market expansion [5] - The company has established itself in the supply chains of renowned lithium battery manufacturers such as LGES, Panasonic, and CATL [5] Acquisition Details - The acquisition of Zhongke Hualian is aimed at enhancing industrial synergy and is currently in negotiation with all shareholders of Zhongke Hualian [6] - An intention agreement for the acquisition has been signed with the main counterparties [6] Financial Performance - In Q3 2025, Enjie Co., Ltd. reported revenue of 3.78 billion yuan, a quarter-on-quarter increase of 24.59%, and a net profit of 6.79 million yuan, marking a return to profitability [5] - The gross margin for the quarter was 16.46%, reflecting a quarter-on-quarter improvement of 2.37 percentage points [5] Market Conditions - The separator industry is facing intensified competition and overall profitability pressure [5] - Enjie Co., Ltd. is actively expanding its overseas market presence while consolidating its domestic market share [5] - The company anticipates a gradual recovery in separator product prices due to reduced new capacity additions in the industry compared to the previous year [6] - Demand for energy storage batteries remains strong, and the overall demand for downstream applications is expected to continue growing, leading to a potential balance in supply and demand [6]