明起停牌。 南都电源（300068）12月11日晚间公告，公司于近日收到公司控股股东杭州南都电源有限公司、上海益都实业有限公司、上海南 都集团有限公司通知，获悉其正在筹划控制权变更、促进再生铅板块股权出售的相关事宜。目前各方尚未签署相关协议，拟就具 体交易方案、协议等相关事项进行论证和磋商，具体情况以各方签订的相关协议为准。 公司主营产品包含锂离子电池及系统、铅蓄电池及系统、氢能关键设备及锂、铅资源再生产品的研发、制造、销售及服务。主要 服务于新型电力储能、通信与数据中心储能、民用储能等领域的客户，提供相应的电源及系统集成产品的应用与技术、运维服 务；再生资源产品包括锂电池材料及再生铅等，主要提供给国内各大锂离子及铅蓄电池生产企业。 南都电源上半年实现营收39.23亿元，同比下降31.67%，其中，再生铅产品营收为7.59亿元，同比下降72.33%。半年报显示，公司 营收下降主要原因为公司战略转型，铅回收板块业务主动减产所致。 三季报也显示，公司前三季度营收为59.11亿元，同比下降24.80%，主要原因为公司战略调整，再生资源板块主动减产，收入规模 持续减少，营收大幅下降。 盘面上，南都电源今日早盘一度涨超 ...

明起停牌。 南都电源（300068）12月11日晚间公告，公司于近日收到公司控股股东杭州南都电源有限公司、上海益 都实业有限公司、上海南都集团有限公司通知，获悉其正在筹划控制权变更、促进再生铅板块股权出售 的相关事宜。目前各方尚未签署相关协议，拟就具体交易方案、协议等相关事项进行论证和磋商，具体 情况以各方签订的相关协议为准。 公告称，停牌期间，公司将根据相关事项进展情况，严格按照法律法规的有关规定及时履行信息披露义 务。 鉴于上述事项尚存在重大不确定性，为保证公平信息披露，维护投资者利益，避免公司股价异常波动， 根据《深圳证券交易所创业板股票上市规则》及《深圳证券交易所上市公司自律监管指引第6号——停 复牌》的相关规定，经公司向深圳证券交易所申请，公司股票（股票简称：南都电源，股票代码： 300068）自2025年12月12日（星期五）开市起停牌，预计停牌时间不超过2个交易日。 根据公司半年报，南都电源长期专注于储能技术、产品的开发与应用，面向新型电力储能、通信和数据 中心储能和民用储能领域，提供以锂电为主的产品、系统集成及服务，并已打通从锂电池制造、系统集 成、运营服务到锂资源回收的全产业链，形成了围绕储 ...

Core Viewpoint - The company, Nandu Power (300068), is undergoing a potential change in control and is planning to sell its lead recycling segment, which has led to a temporary suspension of its stock trading starting December 12, 2025 [1][3]. Group 1: Company Announcement - Nandu Power announced that it received notifications from its major shareholders regarding the planning of a change in control and the sale of its lead recycling segment [1]. - The company has not yet signed any agreements, and discussions regarding specific transaction plans are ongoing [1]. Group 2: Stock Suspension Details - The stock of Nandu Power will be suspended from trading for up to two trading days to ensure fair information disclosure and protect investor interests [3]. - The company will fulfill its information disclosure obligations in accordance with legal regulations during the suspension period [4]. Group 3: Business Overview - Nandu Power focuses on the development and application of energy storage technologies and products, providing lithium-based products and services across various sectors, including new energy storage and communication [4]. - The company has established a comprehensive ecosystem around energy storage, covering the entire industry chain from lithium battery manufacturing to resource recycling [4]. Group 4: Financial Performance - In the first half of the year, Nandu Power reported revenue of 3.923 billion yuan, a year-on-year decrease of 31.67%, with lead recycling product revenue dropping by 72.33% to 759 million yuan [4]. - The decline in revenue is attributed to the company's strategic transformation and a voluntary reduction in lead recycling operations [5]. - For the first three quarters, the company reported revenue of 5.911 billion yuan, a year-on-year decrease of 24.80%, primarily due to ongoing strategic adjustments and reduced output in the recycling segment [5].

Core Viewpoint - Nandu Power has shown significant improvement in operational quality and financial performance after strategic transformation, focusing on the energy storage sector and achieving a net profit of approximately 34 million yuan in Q2 2025, marking a turnaround in performance [1] Financial Performance - In the first half of 2025, the company reported revenue of 3.923 billion yuan, with a net profit attributable to shareholders of -230 million yuan, but achieved a net profit of approximately 34 million yuan in Q2 [1] - The net cash flow from operating activities reached 591 million yuan, a year-on-year increase of 233.84%, marking the best level for the same period in history [1] Strategic Focus - The company has actively reduced low-margin lead recycling business capacity and concentrated on high-value-added energy storage systems and lithium battery businesses, resulting in a 9.54% year-on-year increase in lithium product revenue, which now accounts for 50.8% of total revenue [1] - The gross margin for lithium products improved by 2.3 percentage points to 17.63% through supply chain integration and process improvements [1] Market Expansion - Nandu Power achieved revenue of 947 million yuan in the energy storage business with a gross margin of 27.11%, winning several overseas projects including 1.4GWh in India and 230MWh in the UK [2] - The communication and data center storage business generated revenue of 1.890 billion yuan, a year-on-year increase of 34.09%, and successfully entered the top five data center suppliers in the U.S. [2] Industry Positioning - Since 2020, the company has completed business structure optimization, establishing an integrated layout around energy storage, covering the entire industry chain from lithium (lead) battery manufacturing to resource recycling [3] - The company has increased its overseas revenue share to 20.4%, with a customer base expanding from telecom operators to global energy developers and internet giants [3] - Nandu Power has been recognized as a top-tier energy storage manufacturer globally, with coverage in over 160 countries and regions [3]