Core Viewpoint - The company, Dangsheng Technology, has shown significant trading activity and financial performance, with a notable increase in revenue and net profit year-on-year, indicating a strong position in the lithium-ion battery materials sector [1][2]. Financing and Trading Activity - On September 17, Dangsheng Technology's stock rose by 1.76%, with a trading volume of 2.31 billion yuan. The financing buy-in amounted to 270 million yuan, while the financing repayment was 290 million yuan, resulting in a net financing outflow of 19.73 million yuan [1]. - As of September 17, the total financing and securities lending balance for Dangsheng Technology was 1.642 billion yuan, with the financing balance at 1.629 billion yuan, representing 5.74% of the circulating market value, which is above the 90th percentile of the past year [1]. - In terms of securities lending, on September 17, 15,500 shares were repaid, and 2,000 shares were sold, with a selling amount of 112,200 yuan. The remaining securities lending balance was 128.05 million yuan, also above the 90th percentile of the past year [1]. Financial Performance - For the first half of 2025, Dangsheng Technology reported a revenue of 4.432 billion yuan, reflecting a year-on-year growth of 25.17%. The net profit attributable to shareholders was 311 million yuan, marking an 8.47% increase compared to the previous year [2]. - Since its A-share listing, the company has distributed a total of 1.265 billion yuan in dividends, with 821 million yuan distributed over the last three years [3]. Shareholder Structure - As of June 30, 2025, the number of shareholders for Dangsheng Technology was 86,700, an increase of 2.18% from the previous period. The average number of circulating shares per shareholder was 5,834, a decrease of 2.13% [2]. - Among the top ten circulating shareholders, notable changes include a decrease in holdings by E Fund's ChiNext ETF and an increase in holdings by Southern CSI 500 ETF and Hong Kong Central Clearing Limited [3].

（文章来源：证券日报） 证券日报网讯翔丰华9月17日在互动平台回答投资者提问时表示，公司负极材料下游客户主要是锂电池 厂商，不直接向终端汽车厂供货。 ...

Core Viewpoint - The company reported strong growth in its H1 2025 performance, with significant increases in revenue and net profit, driven by robust demand for lithium battery materials, particularly lithium cobalt oxide [1][2]. Financial Performance - In H1 2025, the company achieved revenue of 75.34 billion yuan, a year-on-year increase of 18.04% - The net profit attributable to shareholders reached 3.07 billion yuan, up 27.76% year-on-year - The non-recurring net profit was 2.91 billion yuan, reflecting a 32.24% year-on-year growth - In Q2 2025, revenue was 45.57 billion yuan, showing a year-on-year increase of 47.78% and a quarter-on-quarter increase of 53.10% - The net profit for Q2 was 1.90 billion yuan, up 47.55% year-on-year and 63.02% quarter-on-quarter [1]. Product Performance - The company’s lithium battery cathode material sales volume reached 60,700 tons in H1 2025, a year-on-year increase of 35.50% - Lithium cobalt oxide sales were 28,800 tons, up 56.64% year-on-year, driven by government subsidies and increased demand in the 3C consumer electronics sector - Sales of power battery cathode materials were 31,900 tons, reflecting a year-on-year growth of 20.76% [1]. Cost Management and Profitability - The company maintained good cost control, with a gross margin of 9.99%, an increase of 0.48 percentage points year-on-year - The net profit margin was 4.06%, up 0.28 percentage points year-on-year - The expense ratios for sales, management, R&D, and finance were 0.25%, 1.29%, 3.23%, and 0.01%, respectively, with a total decrease of 0.51 percentage points [2]. Strategic Positioning - The company has a strong position in the solid-state battery sector, focusing on cathode materials and electrolytes - It has successfully supplied cathode materials for oxide route solid-state batteries and is actively collaborating with leading domestic and international companies for sulfur-based solid-state battery materials - The company has achieved ton-level production of oxide solid-state electrolytes and developed a unique lithium sulfide synthesis process, with positive testing results from clients [2]. Earnings Forecast and Valuation - The company is projected to achieve revenues of 171.85 billion yuan, 214.42 billion yuan, and 249.17 billion yuan for 2025-2027, with year-on-year growth rates of 29.24%, 24.77%, and 16.21%, respectively - Expected net profits attributable to shareholders are 7.46 billion yuan, 10.71 billion yuan, and 11.19 billion yuan, with growth rates of 51.04%, 43.58%, and 4.48% - Corresponding price-to-earnings ratios are estimated at 54.74, 38.13, and 36.49 times, maintaining a "buy" rating [3].

Group 1 - The core viewpoint of the article is that Fujilin Precision (300432.SZ) has announced that its subsidiary, Jiangxi Shenghua, has an annual production capacity of 300,000 tons of high-density lithium iron phosphate, and the related products are currently being supplied in bulk to key customers [1]

Group 1 - The core viewpoint of the news is that Ningbo Shanshan Co., Ltd. has seen a significant increase in its stock price, rising by 5.35% to reach 15.17 CNY per share, with a trading volume of 1.736 billion CNY and a turnover rate of 6.71%, resulting in a total market capitalization of 34.124 billion CNY [1] - The company specializes in the research, production, and sales of lithium-ion battery anode materials and electrolytes, with its main business revenue composition being 55.26% from polarizers, 43.88% from anode materials, and 0.86% from other sources [1] - The top circulating shareholder data indicates that a fund under Southern Fund has increased its holdings in Shanshan Co., with the Southern CSI 500 ETF (510500) adding 8.9988 million shares in the second quarter, bringing its total holdings to 23.3568 million shares, which accounts for 1.33% of the circulating shares [2] Group 2 - The Southern CSI 500 ETF (510500) has achieved a year-to-date return of 27.26%, ranking 1792 out of 4222 in its category, and a one-year return of 63.65%, ranking 1479 out of 3804 [2] - The fund manager of Southern CSI 500 ETF, Luo Wenjie, has a total fund asset scale of 138.999 billion CNY, with the best fund return during his tenure being 146.27% and the worst being -47.6% [3]

格隆汇9月15日丨龙蟠科技(603906.SH)公布，公司控股孙公司LBM NEW ENERGY (AP) PTE. LTD.（以 下简称"锂源（亚太）"）与宁德时代新能源科技股份有限公司（以下简称"宁德时代"）签署了《磷酸铁 锂正极材料采购合作协议》（以下简称"协议"）。协议约定，预计将由锂源（亚太）及其独资或合资子 公司自2026年第二季度至2031年间合计向宁德时代海外工厂销售15.75万吨符合双方约定规格的磷酸铁 锂正极材料（以上需求量将随宁德时代海外项目进度与预测需求量的调整更新，最终采购量通过双方后 续签订框架性、年度性的或者单笔采购合同落实），具体单价由双方协商确定。如按照预计数量及市场 价格估算，合同总销售金额超人民币60亿元（最终根据销售订单据实结算），达到《上海证券交易所股 票上市规则》规定的披露标准。 ...

Core Insights - The company, Beijing Dongsheng Materials Technology Co., Ltd., engaged in a detailed discussion with 10 institutional investors regarding its business development and market strategies [1][2]. Group 1: Business Development and Market Outlook - The company has diversified its product offerings in both ternary materials and lithium iron phosphate, targeting high energy density applications and mid-to-low range electric vehicles and energy storage [3]. - In the first half of 2025, the company reported significant financial growth, achieving revenue of 443.25 million yuan, a year-on-year increase of 25.17%, and a net profit of 31.12 million yuan, up 8.47% [3]. Group 2: Solid-State Lithium Battery Materials - The company has established a comprehensive early layout in solid-state lithium battery materials, including oxides, sulfides, and halides, addressing key technical challenges [4]. - The solid-state lithium battery materials have seen continuous growth, with products being supplied to multiple clients in applications such as drones [4]. Group 3: Other Business Layouts and Advantages - The company has made breakthroughs in the development of lithium-rich manganese-based materials, achieving commercial viability with leading performance metrics [5]. - The production capacity for lithium iron phosphate materials is progressing, with the first phase of 40,000 tons in Panzhihua already operational, and a second phase of 80,000 tons expected to be completed in the second half of 2025 [5]. - The company is enhancing its international business presence, with an increase in the proportion of international clients and the commencement of construction for a production base in Finland [5].

Core Viewpoint - Longpan Technology has signed a significant procurement cooperation agreement with CATL for lithium iron phosphate cathode materials, which is expected to drive growth in the company's stock prices and market position [1] Company Summary - Longpan Technology's subsidiary, Lithium Source (Asia Pacific), has entered into a procurement cooperation agreement with CATL, covering the period from Q2 2026 to 2031 [1] - Following the announcement, Longpan Technology's A-shares hit the daily limit, closing at 17.07 yuan, while H-shares surged nearly 40% at one point, closing at 12.80 HKD, up 27.62% with a turnover rate of 141.68% [1] - The company's Indonesian lithium iron phosphate factory is currently the only one outside of China, having secured nearly 10 billion yuan in orders from LG Energy Solution last year [1] - Longpan Technology has a strong reputation and market share in lithium battery materials, focusing on R&D and production of lithium iron phosphate cathode materials [1] - The company is actively expanding its production capacity to meet the rapidly growing market demand, with plans to raise up to 2 billion yuan for high-performance phosphate cathode material projects in Shandong and Hubei [1] - Longpan Technology has secured sales contracts with BlueOval and EveEnergy, positioning itself to capitalize on the overseas demand for lithium iron phosphate [1] Industry Summary - The lithium iron phosphate battery market is experiencing robust growth, with expectations that China's lithium iron phosphate battery shipments will exceed 100 GWh by the end of the year [1] - The market for lithium iron phosphate batteries and their upstream materials is entering a rapid growth phase, driven by increasing demand in the domestic energy storage sector and the growth of lithium iron phosphate power batteries [1] - Longpan Technology's deep technical accumulation and market advantages in lithium iron phosphate cathode materials position it well to capture market opportunities during this favorable period [1] - Industry reports indicate that Longpan Technology's overseas capacity construction is ahead of competitors, and its deep ties with major clients enhance the certainty of capacity digestion [1]

证券代码：300073 证券简称：当升科技 北京当升材料科技股份有限公司 投资者关系活动记录表 北京当升材料科技股份有限公司 投资者关系活动记录表 机、eVTOL 低空飞行器等市场中也具有广阔的应用前景，磷酸（锰） 铁锂则主要应用在中低续航电动车和储能领域。随着新能源锂电行 业的发展，三元材料和磷酸（锰）铁锂未来都有着广阔的市场前景。 公司作为高端锂电池正极材料供应商，已完成三元材料和磷酸（锰） 铁锂的多元化产品布局。三元材料持续放量，多项产品作为行业标 杆深度融入全球高端新能源车企及一线品牌动力电池供应链，磷酸 （锰）铁锂产品销量同比实现跨越式大幅提升，连续月度出货量近 万吨，深度绑定中创新航、中汽新能、瑞浦兰钧、宜春清陶、Power Co 等国内外客户，在动力、储能及 EV 领域实现应用。公司今后将 努力提升在这两个细分领域的市占率，谢谢。 二、公司如何展望 2025 年及未来的市场前景？ 答：您好，2025 年上半年，公司锚定年度经营业绩目标，在技 术创新突破、客户开发、产能建设提速等方面取得了显著成果，实 现营业收入 443,249.77 万元，同比增长 25.17%；实现归属于上市 公司股东的净利润 ...

Core Viewpoint - Longpan Technology has signed a significant procurement cooperation agreement with CATL for the supply of 157,500 tons of lithium iron phosphate cathode materials, with a total contract value exceeding 6 billion yuan, enhancing its position in the overseas market [1][2]. Group 1: Company Developments - Longpan Technology's subsidiary, Lithium Source (Asia Pacific), is the only lithium iron phosphate cathode material factory outside China, having secured nearly 10 billion yuan in orders from LG Energy last year [2]. - The company has been recognized for its "12,000 tons LFP cathode material industry project" in Indonesia, which was included in the 2025 BRICS countries' industrial cooperation case list [2]. - Longpan Technology is actively expanding its production capacity, planning to raise up to 2 billion yuan for two high-performance phosphate projects, adding a total annual capacity of 195,000 tons [4]. Group 2: Market Trends - The lithium iron phosphate battery market is experiencing rapid growth, with expectations that China's lithium iron phosphate battery shipments will exceed 1.3 TWh by the end of the year, driving upstream phosphate cathode material shipments to over 3.5 million tons, a year-on-year increase of over 45% [2]. - The company is focusing on research and development in cutting-edge technologies, including solid-state batteries and advanced cathode materials, to secure a competitive edge in the market [3]. - Longpan Technology's new high-density lithium iron phosphate materials are expected to significantly improve production efficiency and reduce manufacturing costs, potentially becoming a new growth point for sales and profits [3].