XWXN(SH:688778) Jing Ji Guan Cha Wang·2026-02-14 04:22Performance Overview - Company achieved operating revenue of 20.034 billion yuan in 2025, representing a year-on-year increase of 47.84% [2] - Net profit attributable to shareholders reached 755 million yuan, up 41.83% year-on-year [2] - Lithium cobalt oxide sales totaled 65,300 tons, while sales of power battery cathode materials reached 77,400 tons, increasing by 41.31% and 47.83% respectively [2] - Growth in performance is attributed to national replacement subsidy policies and increased demand driven by AI trends in 3C devices [2] - The complete audited financial data is expected to be disclosed in the upcoming annual report [2] Related Transactions - Company held its first extraordinary general meeting of 2026 on January 12, 2026, approving the estimated total amount of daily related transactions for 2026 at 586.3768 million yuan [3] - Related shareholders abstained from voting, and independent directors deemed the transaction pricing fair [3] Financial Condition - Company made a total provision for asset impairment of 205.4708 million yuan in 2025, primarily for inventory depreciation and bad debt losses, which reduced the current consolidated profit [4] - The provision is based on the company's accounting policies to more accurately reflect its financial condition [4] Fund Movements - As of January 29, 2026, the company's financing balance was 330 million yuan, with a securities lending balance of 10.1184 million yuan, and a net outflow of financing of 2.4274 million yuan on that day [5]