Core Viewpoint - Wanshun New Materials announced the sale of 51% equity in Shenzhen Yuqiang New Materials Co., Ltd. for 40.8 million yuan, resulting in the latter's exit from Wanshun's consolidated financial statements [2] Group 1: Transaction Details - Jiangsu Zhongji New Energy Technology Group Co., Ltd. will transfer its 51% stake in Shenzhen Yuqiang to Guangxi Aluminum Industry Investment Fund and Li Ke, with a unit price of 12.5 yuan per registered capital [2] - Guangxi Aluminum will acquire 49% for 39.2 million yuan, while Li Ke will acquire 2% for 1.6 million yuan, making him the controlling shareholder [2] - The transaction will be settled in two phases, with the first payment covering 51% and the second covering 49%, both to be completed within 10 working days after conditions are met [3] Group 2: Financial Performance of Shenzhen Yuqiang - Shenzhen Yuqiang, established in October 2014, has a registered capital of 6.4 million yuan, focusing on the R&D, production, and sales of coated aluminum foil, coated copper foil, and conductive paste [2] - For 2024, the company is projected to have a consolidated revenue of 55.271 million yuan and a net loss of 994,800 yuan; for the first nine months of 2025, revenue is expected to be 47.7151 million yuan with a net loss of 286,600 yuan [2] - As of September 30, 2025, Shenzhen Yuqiang's total assets amounted to 74.3572 million yuan, with a net asset value of 35.197 million yuan [2]

Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, indicating strong market expansion and improved profitability [1][2]. Financial Performance - The company achieved an operating revenue of 384.31 million yuan, a 69.37% increase compared to the same period last year [1]. - The net profit attributable to shareholders reached 19.93 million yuan, reflecting a 13.51% year-on-year growth [2]. - The net profit after deducting non-recurring gains and losses was 17.79 million yuan, up by 10.97% from the previous year [2]. - The net cash flow from operating activities showed a significant decline of 93.89%, amounting to 920.81 thousand yuan [1]. Market Expansion and Product Development - The company actively expanded its market presence, particularly in the new energy battery sector, leading to substantial revenue growth in its current collector business [1]. - Leveraging its R&D and customer service capabilities in functional coating films, the company has strategically developed new products related to automotive electronics and new energy batteries, successfully collaborating with international connector giants [2]. - The company has introduced various functional coating products, including safety coatings, solid electrolyte coatings, and fast-charging silicon-carbon anode applications, to enhance its market position in the new energy sector [2]. - A new generation edge coating solution has been developed to address existing issues in lithium battery anode edge coating processes, which will help reduce energy consumption and processing costs [2].