证券代码：688567 证券简称：孚能科技 公告编号：2026-004 孚能科技（赣州）股份有限公司 2025年度业绩快报公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 本公告所载2025年度主要财务数据为初步核算数据，未经会计师事务所审计，具体数据以公司2025年年 度的定期报告为准，提请投资者注意投资风险。 一、2025年度主要财务数据和指标 2025年年末公司总资产22,710,655,348.09元，较上一年末下降14.71%。 (二)影响经营业绩的主要因素 公司2025年度营业收入较上年同期下降22.23%，亏损较上年扩大，主要系以下原因综合导致： 1.毛利及毛利率影响 第一，公司两个新生产基地"赣州年产30GWh新能源电池项目（一期）"和"广州年产30GWh动力电池生 产基地项目（一期）"目前尚处于产能爬坡阶段，固定折旧摊销费用大，产能利用率、设备效率及良品 率还处于稳步提升阶段，导致毛利及毛利率偏低。 单位：元 ■ 二、经营业绩和财务状况情况说明 (一)经营业绩和财务状况 据公司财务部门初步核算，公司本 ...

对于业绩变动的原因，公告指出，主要受毛利及毛利率下滑、研发费用增加等因素影响。 2月27日，孚能科技发布2025年度业绩快报。经初步核算，报告期内，公司实现营业收入90.84亿元，同 比下降22.23%；归母净利润亏损7.67亿元，上年同期亏损3.32亿元。 一方面，公司两个新生产基地"赣州年产30GWh新能源电池项目（一期）"和"广州年产30GWh动力电池 生产基地项目（一期）"目前尚处于产能爬坡阶段，固定折旧摊销费用较高，产能利用率、设备效率及 良品率仍在提升过程中，导致毛利水平偏低；公司年内加大市场开拓以优化客户结构，叠加客户结算模 式调整、部分产品更新换代，以及国内出口退税率降低，美国对华出口关税提升，带来毛利率下降。另 一方面，公司持续拓展新产品、新技术，投入固态电池研发等带来研发费用的上升。 （企业公告） ...

万润新能发布业绩快报，2025年度实现营业总收入114.96亿元，同比增长52.81%；净利润亏损4.46亿 元，上年同期亏损8.7亿元。公司业绩回升主要系受益于新能源汽车与储能市场旺盛需求的驱动，公司 主营产品磷酸铁锂产销量大幅提升，销售价格也逐步上升，产品毛利回升，同时公司强化管理，推进降 本增效及优化资源配置，剥离非盈利业务，公司的亏损幅度逐步缩窄。 ...

证券日报网讯2月27日，沃尔核材（002130）在互动平台回答投资者提问时表示，公司控股子公司上海 科特的动力电池热失控防护产品，广泛应用于新能源动力电池模组及PACK中，起缓冲、隔热、高温绝 缘作用，其主要客户包括新能源电池头部企业。 ...

跳出锂价绑架：宁德时代构建对抗周期护城河 近日，全球锂资源供给端突发政策调整，直接引爆锂价短期波动，牵动整个新能源产业链神经。在市场 普遍焦虑成本上涨、担忧企业盈利承压之际，宁德时代(300750.SZ，0750.HK)正凭借全产业链与技术生 态布局，打破传统制造业被原料价格绑架的宿命，探索一条穿越资源周期的稳健路径。 锂矿出口突发暂停，短期扰动引发市场连锁反应 2月25日，全球主要锂供应国突然发布禁令，宣布立即暂停所有锂原矿及锂精矿出口，即便已在途的货 物也受到波及。这一突发政策迅速冲击市场，碳酸锂价格应声上涨，A股锂矿板块出现尾盘异动，产业 链上下游陷入普遍担忧。市场按照传统惯性判断，锂价上涨将直接推高电池生产成本，压缩企业利润空 间，进而引发新能源板块出现阶段性调整，投资者情绪也随之波动。 市场分析指出，从行业本质来看，此次锂供应波动属于短期政策规范行为，并非长期资源封锁，对全年 供需格局影响有限，但依旧放大了市场对资源周期风险的恐慌情绪，也让行业重新思考：单纯依赖原料 加工的传统模式，早已无法抵御产业链波动。 比资源与技术布局更关键的是，宁德时代已经完成从传统电池制造商向能源基础设施平台服务提供商的 ...

前言 2月25日，美国贸易代表格里尔的话震动世界！ 他声称对全球主要贸易伙伴加征15%以上关税，对中国不加；这一决定直接让欧盟、日本等长期盟友瞬间沦为被收割的对象。 美国为何对中国态度大转弯？周边国家会如何回应？ 关税大棒转向 就在2月25日那天，华盛顿的新闻发布会现场气氛有些古怪。 美国贸易代表格里尔站在麦克风前，抛出了一枚让全球震动的"炸弹"：美国要对大部分国家加征15%甚至更高的关税，但中国不在名单里。 这话一出，台下的记者们都愣住了，这画风变太快，让人反应不过来。 要知道，就在几天前，特朗普政府还叫嚣着要依据《1974年贸易法》第122条，对所有进口商品一刀切地征收10%的临时关税，那架势摆明了要跟全世界硬 刚。 但明眼人都看得出来，这是一种典型的"找台阶下"。就在不久前，美国官方还在叫嚣要全方位封堵中国，现在突然改口，这中间的反差太大，很难不让人怀 疑其中的猫腻。 实际上，这正是美国政府惯用的伎俩：在硬茬面前撞了南墙，转头就去捏软柿子，试图用这种方式来掩饰自己的无能。 这出"关税大戏"演到这儿，已经彻底变了味。从一开始的"对华施压"，变成了现在的"放过中国，收拾盟友"。这种戏剧性的转变，恰恰暴露了美 ...

每经AI快讯，沃尔核材（002130.SZ）2月27日在投资者互动平台表示，公司控股子公司上海科特的动力 电池热失控防护产品，广泛应用于新能源动力电池模组及PACK中，起缓冲、隔热、高温绝缘作用，其 主要客户包括新能源电池头部企业。 （文章来源：每日经济新闻） ...

Core Insights - The next five years in the new energy battery sector will be dominated by solid-state batteries, which are set to redefine the entire battery supply chain and present significant investment opportunities [1] - China has established itself in the leading tier of the global race for solid-state battery technology, with a surge in patents, supportive policies, and strategic corporate positioning [1] Industry Overview - Solid-state batteries are recognized for their ability to achieve energy densities exceeding 400Wh/kg, making them a focal point for global investment and technological advancement [1] - The period from 2025 to 2027 is identified as a critical window for industrialization, with major automotive and battery companies expected to complete pilot production lines and begin vehicle testing [1] Material Innovations - The electrolyte is considered the "heart" of solid-state batteries, with the sulfide route being the mainstream choice due to its superior ionic conductivity [3] - Lithium sulfide, the core raw material for sulfide electrolytes, presents significant production challenges, and companies that can achieve mass production and cost reduction will gain a competitive edge [4] Anode and Cathode Developments - The anode materials directly influence battery energy density, with pure lithium metal anodes being the ultimate goal due to their potential for nearly tenfold capacity improvement [5] - Silicon-carbon anodes are seen as a transitional solution, with advancements in technology addressing previous challenges related to expansion and consistency [6] - Cathode materials are evolving towards "high nickel + lithium-rich manganese" routes, with the latter being a new opportunity presented by solid-state technology [7] Supporting Materials and Equipment - Auxiliary materials and current collectors, while smaller segments, present substantial market opportunities, with significant demand for single-walled carbon nanotubes and other essential materials [8] - The transition to solid-state batteries necessitates a comprehensive upgrade of production equipment, with 60%-70% of existing machinery requiring replacement or modification [8] - Dry processing equipment is highlighted as a key area for innovation, enhancing battery density and energy efficiency while reducing operational costs [8][9] New Market Opportunities - Isostatic pressing equipment, previously unused in the lithium battery sector, is expected to create new market demands due to its role in enhancing battery density [9] - Leading companies are accelerating the development of complete solid-state battery production lines, indicating a shift towards more integrated manufacturing solutions [9]

Core Insights - The global energy system is undergoing a historic transformation, with China accelerating the construction of a new energy system and aiming to become an energy powerhouse [2] - Ningde Times is committed to enhancing the economic viability of renewable energy scenarios and supporting global energy transition and green development [2] Industry Overview - The global energy system is trending towards distributed, intelligent, and circular development, with renewable energy batteries as a core supporting technology [2] - China leads the global renewable battery industry, with 6 out of the top 10 power battery companies and 7 out of the top 10 energy storage battery companies by 2025, holding over 70% and 83% market shares respectively [2] - Fujian province is positioned as a hub for the renewable battery industry, with an expected total output value of nearly 500 billion yuan by 2025, a year-on-year growth of 39%, accounting for about 40% of the equipment manufacturing output [2] Company Strategy - Ningde Times has established its headquarters, core R&D, and major production capacity in Fujian, with cumulative R&D investment exceeding 90 billion yuan and over 20,000 global R&D personnel [4] - The company has increased the number of domestic suppliers from over 20 to 5,000, promoting collaborative innovation and green transformation across the industry chain [4] - The goal is to achieve carbon neutrality in the supply chain by 2035 and to create a core competitive advantage in zero-carbon technology [4] Future Outlook - The company emphasizes the importance of deepening the "four-chain" integration to solidify the foundation of the renewable energy industry and expand zero-carbon technology application scenarios [4] - Ningde Times aims to contribute to high-quality development in Fujian and the global renewable energy sector, advocating for an open cooperation approach to achieve a zero-carbon future [4]