1月13日晚间，容百科技（SH688005，股价33.18元，市值237.15亿元）1200亿元大单震惊市场。 公告显示，自2026年第一季度开始至2031年，公司预测合计向宁德时代（300750）供应磷酸铁锂总量约 为305万吨，合同总销售金额超1200亿元。值得注意的是，2025年前三季度，容百科技营收为89.86亿 元，2023~2024年公司营收持续下滑。对于这一超级利好，公司在公告中也充分给予了"自我肯定"，包 括产品性能领先、革命性的工艺技术、亲环保零排放等8项"积极影响"。 合同金额过于巨大，引发监管警觉。1月13日当天，容百科技就收到了交易所问询函，而后停牌2日。在 经历两次延期回复之后，1月18日晚间，投资者终于等来了容百科技的回复公告。也就在同时，公司也 收到了证监会的立案告知书，原因是重大合同公告涉嫌误导性陈述。 公告是上市公司信息披露最重要的载体，公告内容必须真实、准确、完整、及时、公平，不得有虚假记 载、误导性陈述或重大遗漏。但容百科技的回复公告清楚表明，1月13日晚间的公告处处透露着随意： 最核心的"合同总销售金额超1200亿元"，竟然是公司估算得出，而非协议约定的采购金额，即合同 ...

Core Viewpoint - The announcement of a 120 billion yuan contract by Rongbai Technology has raised significant market attention and regulatory scrutiny due to its size and the uncertainties surrounding it [1][2]. Group 1: Contract Details - Rongbai Technology forecasts supplying approximately 3.05 million tons of lithium iron phosphate to CATL from Q1 2026 to 2031, with a total sales amount exceeding 120 billion yuan [1]. - The revenue from this contract is equivalent to creating 1.7 times the current revenue of Rongbai Technology, which reported 8.986 billion yuan in revenue for the first three quarters of 2025 [1]. - The contract's sales price is not fixed and is based on a formula involving lithium carbonate costs plus processing fees, leading to uncertainty in the actual procurement volume by CATL [2]. Group 2: Corporate Governance and Procedures - The contract was primarily analyzed and predicted by the marketing department, with no requirement for board or shareholder approval, raising questions about the governance process [3][4]. - The announcement was issued in the name of the board, but it was noted that the chairman did not sign off on it, indicating potential procedural lapses within the company [4]. - The lack of involvement from top management in such a significant contract is unusual and raises concerns about the company's announcement protocols and the effectiveness of its governance [4]. Group 3: Regulatory Response - Following the announcement, Rongbai Technology received an inquiry from the exchange and was subsequently suspended for two days, indicating regulatory concern over the contract's implications [1]. - The company also received a notice from the securities regulatory commission regarding potential misleading statements in the contract announcement [2].