尚太科技17.34亿可转债申请获批 加速产能扩张总资产达110.2亿

Core Viewpoint - Shangtai Technology has received approval from the China Securities Regulatory Commission to issue convertible bonds worth up to 1.734 billion yuan, aimed at funding a project to produce 200,000 tons of lithium battery anode materials annually [1][2]. Group 1: Company Overview - Shangtai Technology is a leading manufacturer of lithium-ion battery anode materials, with a fully integrated production process that includes raw material preprocessing, granulation, pre-carbonization, graphitization, carbonization, and finished product processing [1][2]. - The company has been focusing on expanding its production capacity to meet the growing demand from downstream customers and to strengthen its market position [1][3]. Group 2: Financial Performance - As of September 30, 2025, the total assets of Shangtai Technology reached 11.02 billion yuan, an increase of 18.94% compared to the end of 2024 [1][5]. - The company reported a revenue of 5.506 billion yuan in the first three quarters of 2025, representing a year-on-year growth of 52.09%, with a net profit of 711 million yuan, up 23.08% [5][6]. Group 3: Production Capacity and Utilization - The company plans to invest approximately 3.993 billion yuan in the new project, which is expected to be completed within 18 months and will add 200,000 tons of anode material capacity [2][4]. - Shangtai Technology's production capacity utilization rates for graphitization furnaces and anode materials have remained high, with rates of 97.63% and 120.39% respectively in the first three quarters of 2025 [3][6]. Group 4: Research and Development - The company has invested a total of 562 million yuan in R&D over the past four years, with annual R&D expenses exceeding 100 million yuan [5][6]. - R&D expenses have shown significant growth, with a year-on-year increase of 94.00% in 2022 and 40.50% in 2024 [6].