Core Viewpoint - Jiangte Motor has reported significant losses in its commodity futures and derivatives trading, primarily due to the rising prices of lithium carbonate futures, which have resulted in a loss exceeding 10% of the company's audited net profit for the last year, amounting to over 10 million yuan [3][4]. Group 1: Business Operations - Jiangte Motor's commodity futures and derivatives trading includes lithium carbonate, soda ash, and copper, with the main cause of losses attributed to the recent surge in lithium carbonate prices [4]. - The company aims to mitigate operational risks from price fluctuations in raw materials and products by engaging in commodity futures and derivatives trading [8]. - The average price of battery-grade lithium carbonate rose to 116,300 yuan per ton on December 24, up from 92,400 yuan per ton a month earlier, with futures contracts exceeding 130,000 yuan per ton [8]. Group 2: Financial Performance - Jiangte Motor has experienced a decline in financial performance, with revenues dropping from 2.799 billion yuan in 2023 to 2.103 billion yuan in 2024, representing a decrease of 24.86% [10]. - The company reported a net loss attributable to shareholders of 319 million yuan in 2024, an improvement from a loss of 397 million yuan in 2023, marking a 19.58% reduction in losses [10][11]. - The company has faced continuous challenges, with a net loss of 113 million yuan in the first three quarters of 2025 [11]. Group 3: Resource Management - Jiangte Motor holds over 10 million tons of lithium resources in the Yichun area, with multiple mining and exploration rights [13]. - The company is currently contesting the potential cancellation of its mining rights for the Shiziling lithium ceramic stone mine and is preparing for the production of the Qian坑 lithium mine [13].

Core Viewpoint - Jiangte Electric (002176) has reported a floating loss exceeding 10% of its audited net profit from the last year, amounting to over 10 million yuan, due to short-selling lithium carbonate futures amid rising prices [3][4]. Group 1: Financial Impact - The company's trading in commodity futures and derivatives has resulted in confirmed losses and floating losses that exceed 10% of its recent audited net profit [3]. - The primary reason for the losses is the continuous rise in lithium carbonate futures prices, which has negatively impacted the company's futures account [4]. - Jiangte Electric's net profit has been in decline for two consecutive years, with reported losses of 396.91 million yuan in 2023 and 319.18 million yuan in 2024 [9]. Group 2: Business Operations - Jiangte Electric engages in commodity futures and derivatives trading to mitigate operational risks from price fluctuations in raw materials and products [7]. - The company has a diversified business model, focusing on electric motors and lithium products, with a comprehensive industrial chain from lithium ore extraction to lithium salt production [8]. - The company has faced challenges in its performance, with revenues dropping from 2.799 billion yuan in 2023 to 2.103 billion yuan in 2024 [9]. Group 3: Market Conditions - Recent data indicates that the average price of battery-grade lithium carbonate rose from 92,400 yuan per ton a month ago to 116,300 yuan per ton, marking an increase of over 8% [7]. - The main futures contract for lithium carbonate on the Shanghai Futures Exchange surpassed 130,000 yuan per ton, reaching a new high since November 2023 [7]. Group 4: Resource Management - Jiangte Electric holds over 10 million tons of lithium resources in the Yichun area, with multiple mining and exploration rights [11]. - The company is currently contesting the potential cancellation of its mining rights for the Shiziling lithium ceramic stone mine and is preparing for the production of the Qian坑 lithium mine [12].

Core Viewpoint - The announcement from Jiangte Electric indicates that the company's trading in commodity futures and derivatives has resulted in confirmed losses and unrealized losses amounting to 10% of the company's audited net profit attributable to shareholders over the past year, exceeding 10 million yuan [1] Group 1: Financial Impact - The confirmed losses and unrealized losses from commodity futures and derivatives trading have reached over 10 million yuan, which is 10% of the company's recent audited net profit [1] - The trading involves commodities such as lithium carbonate, soda ash, and copper [1] Group 2: Reasons for Losses - The primary reason for the losses is attributed to the company's strategy to mitigate operational risks from price fluctuations and reduce the impact of raw material price volatility on production costs [1] - The company and its subsidiaries engaged in commodity futures and derivatives trading based on their production and operational plans to lower the impact of market price fluctuations on production costs and main product pricing [1] - Recent continuous increases in lithium carbonate futures prices have led to losses in the company's futures accounts [1]

Core Viewpoint - Jiangte Electric (002176) has reported a significant floating loss exceeding 10% of its audited net profit from the previous year, amounting to over 10 million yuan, due to short-selling lithium carbonate futures amid rising prices in the commodity market [4][6]. Group 1: Financial Impact - The company's trading in commodity futures and derivatives has resulted in confirmed losses and floating losses that exceed 10% of its net profit, which is over 10 million yuan [4]. - Jiangte Electric's net profit has been in decline for two consecutive years, with reported losses of 396.91 million yuan in 2023 and 319.18 million yuan in 2024 [14]. - The company's revenue has also decreased significantly, from 2.8 billion yuan in 2023 to 2.1 billion yuan in 2024, representing a decline of 24.86% [14]. Group 2: Business Operations - Jiangte Electric engages in commodity futures and derivatives trading to mitigate operational risks associated with price fluctuations of raw materials and products [10]. - The company has been involved in trading lithium carbonate, soda ash, and copper, with the primary cause of losses attributed to the recent surge in lithium carbonate futures prices [6][10]. - The average price of battery-grade lithium carbonate rose from 92,400 yuan per ton a month ago to 116,300 yuan per ton recently, marking an increase of over 8% [10]. Group 3: Resource Management - Jiangte Electric holds multiple mining rights in the Yichun area, with proven lithium resource reserves exceeding 100 million tons [16]. - The company is currently contesting the potential cancellation of its mining rights for the Shiziling lithium ceramic stone mine and is preparing for the production of the Qian坑 lithium mine [17].

Core Points - Jiangte Electric (002176) closed at 11.55 yuan on November 14, 2025, down 5.17% with a trading volume of 1.46 billion yuan [1][4] - The company plans to change its auditing firm to Rongcheng Accounting Firm due to changes in actual control and future business development needs [2][4] - The board approved a proposal to engage in commodity futures and derivatives trading for 2026, with a total margin and premium not exceeding 300 million yuan [2][4] Trading Information - On November 14, Jiangte Electric's stock price fell by 5.17%, with a turnover rate of 8.56% and a trading volume of 1.4598 million shares [1] - Over the past ten trading days, the main funds have seen a net outflow of 263 million yuan, while the stock price has increased by 2.06% [1] - The financing balance increased by 97.875 million yuan, and the short-selling volume decreased by 110,000 shares [1] Company Announcements - The 11th Board of Directors held its second meeting on November 14, 2025, approving proposals for futures and derivatives business and changing the auditing firm [1][2] - A notice was issued for the third extraordinary general meeting of shareholders to be held on December 1, 2025, to discuss the approved proposals [1] - The new auditing firm, Rongcheng Accounting Firm, has qualifications for securities services and has audited 518 listed companies in the manufacturing sector [2]