证券简称：滨海能源 证券代码：000695 天津滨海能源发展股份有限公司 投资者关系活动记录表 编号：2025-003 答:公司已关注到行业的有关现状，将持续加强供应链管理、重视现金流管理、 做好风险控制。 6.请具体说明下公司终止重组的具体原因，是否和标的公司的估值争议有 关？结合近期己内酰胺市场价格触底。此次重组终止，是否意味着公司"负 极材料+尼龙新材料"双主业并行计划失败？后续有哪些并购的计划？ 答:自本次交易预案披露以来，公司及交易相关方积极推进本次交易的相关工 作，由于市场环境较本次交易筹划初期发生了变化，交易各方在对本次交易 进行协商和谈判后，对相关商业条款未能达成一致，为切实维护公司及全体 股东利益，经公司充分审慎研究及与交易各方友好协商，同意终止本次交易 事项。具体详见公司公告的《关于终止发行股份购买资产并募集配套资金暨 关联交易的公告》 根据《上市公司重大资产重组管理办法》及《深圳证券交 易所上市公司自律监管指引第 8 号——重大资产重组》等法律法规及规范性 文件的规定，本公司自终止重大资产重组事项公告披露之日起一个月内不再 筹划重大资产重组事项。未来如涉及重组事项，将依法披露，切实保障投 ...

Core Insights - The report emphasizes the importance of discovering investment opportunities with a proactive attitude rather than merely relaying information [2] Domestic Financial Market - The Shanghai Composite Index closed at 3997.56, down by 0.25%, while the Shenzhen Component Index closed at 13404.06, down by 0.36% [4] Industry Latest Developments - New evaporative cooling technology is expected to address NVIDIA's heat dissipation challenges, with related stocks including Invec (002837) and Shenling Environment (301018) [8] - China has released the world's first intelligent multimodal large model for deep-sea habitat, with related stocks including Hailanxin (300065) and Zhongke Xingtu (688568) [8] - A new industry sector is emerging with China's upcoming global debut of space tourism projects, related stocks include Tanshihua (300005) and Fenghuo Electronics (000561) [8] Focus on Listed Companies - Lens Technology (300433) has achieved comprehensive technology coverage in the AI edge sector and can rapidly transfer its technology from consumer electronics to new fields like automotive and robotics [10] - DaviTech (300331) plans to acquire a 51% stake in Changzhou Weipu Semiconductor Equipment Co., Ltd. for 510 million yuan [10] - Shanshan Co., Ltd. (600884) is developing negative electrode materials for solid-state batteries, with some products undergoing multiple rounds of testing at customer sites [10] Market Review and Outlook - On November 7, the total trading volume in the two markets was 199.91 billion yuan, with 2033 stocks rising and 2953 falling. The net capital outflow was 60.42 billion yuan, with a decrease in trading volume of 56.2 billion yuan compared to the previous day [12] - The three major indices opened slightly lower and showed weak fluctuations, with the small-cap stocks performing relatively stronger than large-cap stocks [12] - Market hotspots included significant capital inflows into battery, fluorochemical, and photovoltaic sectors, while sectors like reducers and AI saw capital outflows [12] - The report suggests that the market will continue to oscillate around the 4000-point mark, with a focus on mid-cap stocks showing performance strength compared to large and small-cap stocks [13] - There is an increasing recognition of price increase logic in the market, particularly in sectors like lithium hexafluorophosphate, storage chips, and photovoltaic polysilicon, which are expected to maintain attention [13]

Core Viewpoint - The solid-state battery anode materials are primarily silicon-based and lithium metal anodes, with silicon-based anodes currently advancing faster in industrialization. The development of lithium metal anodes is slower compared to silicon-based anodes. Solid-state electrolytes offer wider electrochemical windows and higher chemical stability, which can effectively suppress lithium dendrite formation, indicating a short to medium-term trend towards silicon-based anodes in solid-state batteries, with future iterations expected for lithium metal anodes [2][10]. Summary by Sections Anode Materials Overview - The main types of solid-state battery anode materials are silicon-based and lithium metal anodes, with silicon-based anodes showing faster industrialization progress. Lithium metal anodes have high capacity and low electrochemical potential, potentially achieving energy densities above 400 Wh/kg when paired with suitable battery designs [2][10]. Advantages and Disadvantages of Anode Materials - **Graphite**: Good stability and long cycle life, but low energy density and weak fast charging capabilities [3]. - **Silicon-based Anodes**: High energy density and abundant resources, but significant volume expansion, short cycle life, and high costs [3]. - **Metal Aluminum**: High energy density and fast charging advantages, but can produce lithium dendrites [3]. Current Trends in Silicon-based Anodes - Silicon-carbon anodes are currently the preferred choice for solid-state batteries, offering high energy density, safety, and system compatibility. With over 30% silicon content in solid-state batteries, energy density can exceed 500 Wh/kg [5][6]. Safety and Compatibility - Silicon-based anodes have a lower lithium embedding potential of approximately 0.5V, reducing the likelihood of lithium plating during fast charging and preventing dendrite penetration that could cause short circuits. The mechanical modulus of solid electrolytes can buffer the volume changes of silicon-based materials, reducing interfacial resistance and enhancing battery performance [6]. Industry Players and Developments - Numerous companies are emerging in the silicon-based anode market, including established players like BetterRay, Sanyuan, and Puli, which have rapid verification and marketization speeds. New entrants like Tianmu Xian Dao and He Chuang Energy are also making strides [6][7]. Industrialization Progress of Silicon-based Anodes - Companies like BetterRay and Sanyuan are advancing their production capabilities, with BetterRay expected to achieve mass supply by 2025 and Sanyuan completing trial production by the end of 2024. Other companies are also establishing production lines and expanding capacities [7][8]. Lithium Metal Anode Potential - Lithium metal anodes have significant potential in solid-state batteries due to their low density, low chemical potential, and high specific capacity. However, challenges such as lithium dendrite growth need to be addressed for commercial viability. Companies like Ganfeng Lithium and Ningde Times are already working on lithium metal anode-based solid-state batteries [10][11].