Company Overview - Tianai Technology Co., Ltd. is located in Zhenjiang, Jiangsu Province, and was established on January 6, 2011. The company was listed on September 25, 2019. Its main business involves the research, production, and sales of nano-scale carbon materials and related products [1][2]. Financial Performance - As of June 30, 2025, Tianai Technology achieved operating revenue of 654 million yuan, representing a year-on-year growth of 1.08%. The net profit attributable to the parent company was 117 million yuan, also reflecting a year-on-year increase of 1.07% [2]. - The company has distributed a total of 244 million yuan in dividends since its A-share listing, with 179 million yuan distributed over the past three years [3]. Stock Performance - On September 19, Tianai Technology's stock price increased by 2.04%, reaching 58.46 yuan per share, with a trading volume of 298 million yuan and a turnover rate of 1.50%. The total market capitalization is 21.421 billion yuan [1]. - Year-to-date, the stock price has risen by 51.20%, with a 6.25% increase over the last five trading days, a 19.43% increase over the last 20 days, and a 27.91% increase over the last 60 days [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 23,800, up by 1.28% from the previous period. The average number of circulating shares per person decreased by 1.26% to 14,455 shares [2]. - Among the top ten circulating shareholders, Jiashi New Energy Materials Stock A (003984) is the newest addition, holding 3.1641 million shares, while Hong Kong Central Clearing Limited has exited the top ten list [3]. Capital Flow - The net inflow of main funds was 1.9645 million yuan, with large orders accounting for 30.47% of purchases and 30.63% of sales [1].

Core Viewpoint - Lingpai Technology's stock price has shown significant volatility, with a year-to-date increase of 113.17% but a recent decline of 6.96% over the past five trading days [2] Company Overview - Lingpai Technology, established on December 12, 2002, and listed on August 9, 2016, is located in Qidong County, Hunan Province. The company specializes in the research, production, and sales of new environmentally friendly surface engineering chemicals and new energy power battery businesses [2] - The company's revenue composition includes: 33.11% from new energy EPC business, 33.11% from new energy batteries and systems, 29.04% from coating additives, 3.81% from other sources, 0.77% from coating intermediates, and 0.16% from chemical trading products [2] Financial Performance - As of September 10, 2023, Lingpai Technology reported a revenue of 67.48 million yuan for the first half of 2025, a year-on-year decrease of 1.19%. The net profit attributable to the parent company was -70.57 million yuan, reflecting a year-on-year increase of 20.56% [3] - The company has distributed a total of 296 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [4] Shareholder Information - As of September 10, 2023, the number of shareholders increased by 10.53% to 25,200, with an average of 6,282 circulating shares per person, a decrease of 9.52% [3] - As of June 30, 2025, the top ten circulating shareholders included new entrants such as China Aviation New Start Flexible Allocation Mixed A, holding 895,800 shares, and a decrease in holdings by China National Offshore Oil Corporation Energy Strategy Mixed [4]

Company Overview - Xiangtan Electric Chemical Co., Ltd. is located in Xiangtan City, Hunan Province, established on September 30, 2000, and listed on April 3, 2007. The company primarily engages in the production and sales of electrolytic manganese dioxide and electrolytic metal manganese, as well as urban sewage treatment [1][2]. Financial Performance - For the first half of 2025, Xiangtan Electric achieved operating revenue of 897 million yuan, representing a year-on-year growth of 4.79%. However, the net profit attributable to shareholders decreased by 18.21% to 126 million yuan [2]. - The company has cumulatively distributed 354 million yuan in dividends since its A-share listing, with 286 million yuan distributed over the past three years [3]. Stock Performance - As of September 19, the stock price of Xiangtan Electric was 14.19 yuan per share, with a market capitalization of 8.932 billion yuan. The stock has increased by 43.04% year-to-date but has seen a decline of 5.59% over the last five trading days [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent appearance on June 25 [1]. Shareholder Information - As of September 10, the number of shareholders increased by 7.72% to 73,900, while the average circulating shares per person decreased by 7.17% to 8,523 shares [2]. - As of June 30, 2025, the sixth largest circulating shareholder is the Southern CSI 1000 ETF, holding 3.5119 million shares, an increase of 688,500 shares from the previous period [3].

Company Overview - Dongfang Zirconium Industry Co., Ltd. is located in Shantou City, Guangdong Province, and was established on November 10, 1995. The company was listed on September 13, 2007. Its main business involves the research, development, production, and sales of zirconium series products [1][2]. Financial Performance - For the first half of 2025, Dongfang Zirconium achieved operating revenue of 626 million yuan, a year-on-year decrease of 23.07%. However, the net profit attributable to the parent company was 29.08 million yuan, reflecting a significant year-on-year increase of 148.58% [2]. - Since its A-share listing, the company has distributed a total of 30.11 million yuan in dividends, with no dividends paid in the last three years [3]. Stock Performance - As of September 19, the stock price of Dongfang Zirconium rose by 2.00% to 14.79 yuan per share, with a trading volume of 243 million yuan and a turnover rate of 2.19%. The total market capitalization is 11.457 billion yuan [1]. - Year-to-date, the stock price has increased by 101.50%, with a recent decline of 4.09% over the last five trading days, a 10.21% increase over the last 20 days, and a 33.73% increase over the last 60 days [1]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 110,600, up by 10.25% from the previous period. The average number of circulating shares per shareholder decreased by 9.34% to 6,849 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the second-largest shareholder, holding 6.6647 million shares, a decrease of 3.0102 million shares compared to the previous period [3]. Market Position - Dongfang Zirconium is classified under the non-ferrous metals sector, specifically in the small metals category. The company is involved in various concept sectors, including solid-state batteries, lithium batteries, small metals, new materials, and dental medical products [2].

Company Overview - Tianyu Biological Technology Co., Ltd. is located in Yangpu District, Shanghai, established on June 21, 2000, and listed on March 27, 2017 [2] - The company's main business includes landscape greening engineering design, construction, and maintenance; municipal public engineering construction; environmental comprehensive governance; river and lake pollution control; soil pollution control; and seedling planting and sales [2] - Revenue composition: 72.29% from pig farming, 19.78% from ecological landscape engineering, 3.89% from red yeast products, 3.17% from photovoltaic power generation, and 0.87% from other sources [2] - Tianyu Biological is classified under the agricultural, forestry, animal husbandry, and fishery industry, specifically in pig farming [2] Financial Performance - For the first half of 2025, the company achieved operating revenue of 412 million yuan, a year-on-year decrease of 2.62%, while net profit attributable to the parent company was 10.82 million yuan, a year-on-year increase of 73.68% [2] - Cumulative cash dividends since the A-share listing amount to 34.54 million yuan, with no dividends distributed in the last three years [3] Stock Performance - As of September 19, Tianyu Biological's stock price was 9.01 yuan per share, with a market capitalization of 2.614 billion yuan [1] - Year-to-date, the stock price has increased by 11.93%, but it has decreased by 16.50% over the last five trading days [1] - The stock has appeared on the "Dragon and Tiger List" three times this year, with the most recent appearance on September 16, where net buying amounted to 1.1632 million yuan [1]

Core Insights - The battery sector is experiencing a surge in interest, particularly with the emergence of sodium-ion batteries following the solid-state battery trend [1] - Contemporary battery giant CATL is advancing its sodium-ion battery technology, with plans for mass production in 2024 [1][6] - Sodium-ion batteries are approaching the performance levels of lithium iron phosphate batteries, with energy density reaching 175 Wh/kg [1][6] Group 1: Company Developments - CATL's sodium-ion battery, branded as "Ningde Times Sodium New," has an energy density of 175 Wh/kg, which is close to the 185-190 Wh/kg range of current lithium iron phosphate batteries [1][6] - The sodium-ion battery is designed to operate in extreme temperatures from -40°C to +70°C and has a cycle life exceeding 10,000 cycles [1] - CATL has successfully launched the sodium-ion 24V heavy truck battery, which began mass production in June 2023 [1] Group 2: Market Potential - The sodium-ion battery is projected to cover over 40% of the domestic passenger vehicle market demand, indicating significant market potential [2][6] - However, industry experts express skepticism about achieving this market share in the short term, citing cost-performance ratios as a critical factor [2][5] - The sodium-ion battery's advantages include better low-temperature performance and lower carbon footprint compared to lithium-ion batteries [6] Group 3: Industry Context - Sodium-ion batteries have been researched since the 1970s but have struggled to achieve market viability compared to lithium-ion batteries [4] - The abundance of sodium resources, which are 421 times more prevalent than lithium, presents a strategic advantage for sodium-ion battery development [4] - The sodium-ion battery market is expected to reach a turning point by 2025, driven by ongoing technological advancements and accelerated industrialization [5] Group 4: Competitive Landscape - CATL's sodium-ion battery technology is seen as a potential competitor to lithium iron phosphate batteries, which currently dominate the market [7] - The cost of sodium-ion batteries is currently higher but is expected to decrease as production scales up, potentially matching or undercutting lithium-ion battery costs in the future [8] - Companies like Zhongke Haina are also making strides in sodium-ion battery development, focusing on electric heavy trucks and energy storage applications [11]

Core Viewpoint - The stock of Suotong Development has experienced significant fluctuations, with a year-to-date increase of 95.04% but a recent decline of 5.11% over the past five trading days [1] Company Overview - Suotong Development Co., Ltd. is located in the Hengyuan Economic Development Zone, Shandong Province, and was established on August 27, 2003, with its listing date on July 18, 2017 [1] - The company's main business involves the research, production, and sales of prebaked anodes, contributing 90.75% to its revenue, with other segments including negative materials (3.68%) and capacitors (0.99%) [1] Financial Performance - For the first half of 2025, Suotong Development achieved an operating income of 8.306 billion yuan, representing a year-on-year growth of 28.28%, and a net profit attributable to shareholders of 523 million yuan, showing a remarkable increase of 1568.52% [2] - The company has distributed a total of 1.044 billion yuan in dividends since its A-share listing, with 525 million yuan distributed over the past three years [3] Shareholder Structure - As of June 30, 2025, the number of shareholders increased by 30.49% to 50,200, with an average of 9,925 circulating shares per person, a decrease of 23.37% [2] - Notable changes in the top ten circulating shareholders include a reduction in holdings by Guotai Junan's value advantage flexible allocation fund and an increase by Hong Kong Central Clearing Limited [3] Market Activity - On September 18, the stock price of Suotong Development fell by 2.04% to 26.35 yuan per share, with a trading volume of 631 million yuan and a turnover rate of 4.72% [1] - The stock has appeared on the "Dragon and Tiger List" once this year, with the last occurrence on March 12, where it recorded a net buy of -157 million yuan [1]

Company Overview - Zhejiang Dazhongnan Co., Ltd. is located in Zhuji City, Zhejiang Province, established on June 8, 2000, and listed on July 28, 2008. The company specializes in the research, production, and sales of plastic films and new materials [1][2]. Financial Performance - For the first half of 2025, Dazhongnan achieved operating revenue of 637 million yuan, a year-on-year decrease of 1.46%. The net profit attributable to the parent company was 7.94 million yuan, reflecting a year-on-year increase of 151.81% [2]. - Since its A-share listing, Dazhongnan has distributed a total of 172 million yuan in dividends, with no dividends paid in the last three years [3]. Stock Performance - As of September 18, Dazhongnan's stock price was 4.23 yuan per share, with a market capitalization of 7.945 billion yuan. The stock has increased by 70.56% year-to-date, with a 1.68% increase over the last five trading days, 13.10% over the last twenty days, and 24.05% over the last sixty days [1]. - The stock experienced a net outflow of 49.16 million yuan in principal funds, with significant buying and selling activity recorded [1]. Shareholder Information - As of September 10, Dazhongnan had 151,600 shareholders, an increase of 24.10% from the previous period. The average circulating shares per person decreased by 19.42% to 12,390 shares [2]. - As of June 30, 2025, Hong Kong Central Clearing Limited exited the list of the top ten circulating shareholders [3]. Industry Classification - Dazhongnan belongs to the basic chemical industry, specifically in the plastic film materials sector. The company is associated with various concept sectors, including aluminum-plastic films, lithium batteries, graphene, new energy vehicles, and photovoltaic glass [2].

Core Viewpoint - Desay Battery's stock has shown a significant increase in price this year, despite a recent decline, indicating potential volatility in the market [1][2]. Company Overview - Desay Battery Technology Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on September 4, 1985, with its stock listed on March 20, 1995 [1]. - The company specializes in the production of power management systems and various types of lithium batteries [1]. Financial Performance - For the first half of 2025, Desay Battery reported a revenue of 9.762 billion yuan, representing a year-on-year growth of 9.32%, while the net profit attributable to shareholders decreased by 9.36% to 97.545 million yuan [2]. - The company has distributed a total of 1.484 billion yuan in dividends since its A-share listing, with 495 million yuan distributed over the past three years [3]. Shareholder Information - As of September 10, 2025, the number of shareholders increased to 71,100, a rise of 15.54%, while the average circulating shares per person decreased by 13.45% to 5,411 shares [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited being the third-largest shareholder, increasing its holdings by 2.0681 million shares [3]. Stock Performance - As of September 18, 2025, Desay Battery's stock price was 27.46 yuan per share, with a year-to-date increase of 18.46% and a recent five-day increase of 6.93% [1]. - The stock experienced a net outflow of 41.2314 million yuan in principal funds, indicating selling pressure despite some buying activity [1].

Core Viewpoint - The stock of Kanglongda has experienced fluctuations, with a year-to-date increase of 82.37% but a recent decline in the last five trading days by 5.30% [1] Company Overview - Kanglongda, established on December 29, 2006, and listed on March 13, 2017, is located in Hangzhou Bay, Zhejiang Province. The company specializes in the research, production, and sales of special and ordinary labor protective gloves [1] - The revenue composition of Kanglongda includes functional gloves (68.87%), other products (10.62%), lithium salts (9.98%), non-functional gloves (6.10%), lithium salt processing (4.09%), and other (0.35%) [1] Financial Performance - For the first half of 2025, Kanglongda achieved an operating income of 713 million yuan, representing a year-on-year growth of 3.63%. The net profit attributable to the parent company was 112 million yuan, showing a significant increase of 323.61% [2] - Since its A-share listing, Kanglongda has distributed a total of 185 million yuan in dividends, with no dividends paid in the last three years [3] Stock Market Activity - As of September 18, Kanglongda's stock price was 25.75 yuan per share, with a market capitalization of 4.149 billion yuan. The stock has seen a net outflow of 4.51 million yuan in principal funds [1] - The company has appeared on the "Dragon and Tiger List" once this year, with the last occurrence on June 10, where it recorded a net buy of -21.05 million yuan [1] - The number of shareholders as of June 30 was 7,110, a decrease of 3.28% from the previous period, while the average circulating shares per person increased by 3.39% to 22,527 shares [2]