Core Viewpoint - The company, Yicheng New Energy, emphasizes its commitment to the development of high-end carbon materials and new energy storage as its main business areas while actively seeking quality assets and industrial opportunities that align with its core operations [1] Group 1 - The company is focused on deepening its development in two main areas: high-end carbon materials and new energy storage [1] - The company is open to potential asset injections and significant arrangements in the future, ensuring compliance with relevant laws and regulations [1] - The company will adhere to internal decision-making processes and timely information disclosure regarding any major developments [1]

Core Viewpoint - The company is focusing on two main businesses: high-end carbon materials and new energy, aiming to enhance its industry chain layout and market position [1] Group 1: Carbon Materials Business - The company plans to strengthen its carbon materials business through strategic restructuring and professional integration [1] - Efforts will be made to improve the upstream and downstream industry chain, reduce production costs, and increase product added value [1] - The goal is to enhance market share and promote sustainable growth in the carbon materials sector [1] Group 2: New Energy Projects - The company is accelerating the implementation of source-grid-load-storage projects [1] - It aims to utilize diverse financing channels, including bond issuance and external capital introduction, to support these projects [1] - The focus is on speeding up project implementation and capturing market opportunities [1]

Core Viewpoint - The company did not participate in the World Energy Storage Conference on September 17 and will continue to focus on its core business of high-end carbon materials and new energy storage, aiming to enhance its industry chain layout for sustainable growth [1] Company Developments - The company confirmed its absence from the World Energy Storage Conference [1] - Future development plans will closely align with the main business areas of high-end carbon materials and new energy storage [1] - The company aims to continuously improve its industry chain layout to promote sustainable development and growth [1]

Group 1 - The core product of Yicheng New Energy is graphite electrodes, and the company possesses a complete industrial chain in the graphite electrode industry, including needle coke, binder pitch, ultra-high power graphite electrodes (UHPΦ350mm-Φ800mm), and special graphite materials [1] - The company focuses on "high-end carbon materials" and "new energy storage" as its core business [1] - In the first half of 2025, the company will achieve control over Meishan Lake Company through equity acquisition, further enhancing its graphite electrode production capacity, and currently has no plans to divest this company [1]

Group 1: Future Development Strategy - The company aims to leverage national policies and opportunities to optimize its industrial layout through the "East Introduction, West Advancement, and Going Abroad" strategy [3] - Collaboration with Ningde Times for energy storage projects enhances the company's capabilities in integrated energy solutions [3] - Plans to establish production bases in the western regions to reduce costs and strengthen supply chain resilience [3] Group 2: High-end Carbon Materials and New Energy Storage - The company has successfully acquired Shanxi Meishanhu Company to enhance its high-end carbon materials sector, reducing energy costs by over 30% compared to average levels in Henan [3] - The integration of all-vanadium flow battery technology with lithium iron phosphate battery systems aims to create a comprehensive energy storage solution [4] Group 3: Financing and Project Acceleration - The company utilizes diverse financing channels, including bond issuance and external capital, to support the rapid development of its source-network-load-storage projects [5] - Currently, the company has approximately 1 GW of wind and solar power stations, generating around 1 billion kWh annually [5] Group 4: "14th Five-Year" Development Plan - The plan focuses on cost reduction and efficiency improvement in high-end carbon materials while tapping into the trillion-yuan market for new energy storage technologies [6] - Emphasis on enhancing the influence of special asphalt, needle coke, and graphite electrode industries [6] Group 5: Cost Reduction and Efficiency Measures - The company has implemented a cost management system that covers all major subsidiaries, significantly aiding operational efficiency [7] Group 6: Synergy with China Pingmei Shenma Group - The collaboration with China Pingmei Shenma Group allows for integrated development from coal tar to needle coke and ultra-high power graphite materials, enhancing market competitiveness [9] Group 7: ESG Strategy and Green Production - The company is committed to energy conservation and green production, with plans to achieve 1 GW of grid-connected power stations by 2025, supplying over 1 billion kWh of green electricity annually [10] Group 8: Financial Management and Shareholder Returns - The company focuses on cost control and optimizing capital structure to ensure financial health and sustainable development [11] - A reasonable dividend policy will be established based on profitability and cash flow to ensure stable returns for shareholders [12] Group 9: Capital Operations and Mergers - The company seeks acquisition opportunities in the upstream and downstream of the industry chain, particularly in high-end carbon materials and new energy storage [12]

Group 1: Company Performance and Financials - In Q1 2025, the company's revenue increased by 9.50% year-on-year, and losses narrowed by 31.26% [5] - In 2024, the company experienced a revenue decline of 65.38% and a net loss of 850 million yuan [6] - The sale of Pingmei Longji equity is expected to reduce losses and the funds will be used for high-value projects in "high-end carbon materials and new energy storage" [10] Group 2: Market Position and Strategy - The company is focusing on high-end carbon materials and new energy storage as its strategic direction [3] - The company has established a specialized supply chain management company to enhance internal collaboration and optimize sales policies [10] - The total production capacity for graphite electrodes is expected to exceed 100,000 tons following the acquisition of Meishan Lake [8] Group 3: Research and Development - The company has increased R&D investment, maintaining a steady rise in 2024 and Q1 2025 [6] - In 2024, the company achieved several technological innovation awards, enhancing its R&D capabilities [4] Group 4: Competitive Advantages - Core competitive advantages include project-driven focus, brand effect, internal management enhancement, and technological innovation [5] - The company aims to strengthen its core competitiveness through internal and external collaboration [5] Group 5: Industry Context and Challenges - The company faces intensified competition in the photovoltaic industry, leading to a decrease in battery sales [6] - The rapid pace of technological updates poses a challenge to existing production capacities [3]