Core Viewpoint - The company has successfully integrated Sino Gaode into its consolidated financial statements and is optimistic about future performance due to ongoing projects with major clients [2][3]. Company Overview - As of March 2025, the company holds 49.90% of Sino Gaode's shares and has completed the necessary registration procedures [2]. - The integration of Sino Gaode is progressing normally, with expected performance releases in Q3 2025 [2]. Technology and Market Position - Sino Gaode is recognized for its etching technology, which has significant barriers to entry due to the need for chemical processing capabilities and environmental compliance [3]. - The company is confident in its business layout and future growth prospects in the etching sector as client demand increases [3]. New Materials Strategy - The lithium battery new materials sector is experiencing intense price competition, prompting the company to focus on high-tech applications [4]. - The company has developed carbon nanotube products for solid-state batteries and is increasing investment in high-surface-area carbon black, which has higher conductivity and profit margins [4]. CCS Business Layout - The integrated bus CCS is a critical component in new energy batteries, with the company leveraging its relationships with major lithium battery clients [5]. - The transition from FPC to FCC signal acquisition components presents an opportunity for product iteration and margin improvement [5]. Thermal Management Strategy - The acquisition of Sino Gaode is a strategic move to enhance the company's thermal management capabilities, particularly in consumer electronics [6]. - The company is also exploring liquid cooling module business opportunities in response to rising cooling demands from advanced technologies [6]. Financial Performance - In Q1 2025, the company reported a main revenue of 166 million yuan, a year-on-year increase of 1.66%, but a net loss of 11.24 million yuan, a decline of 121.43% [8]. - The company's debt ratio stands at 29.48%, with a gross margin of 24.28% [8]. Analyst Ratings and Predictions - Recently, one institution has issued a buy rating for the stock, with profit forecasts indicating a net profit of 113 million yuan for 2025 [9]. - The stock has seen a net outflow of 27.78 million yuan in financing over the past three months [9].

| 证券代码：603113 | 证券简称：金能科技 | 公告编号：2025-043 | | --- | --- | --- | | 债券代码：113545 | 债券简称：金能转债 | | 金能科技股份有限公司 2025 年第一季度主要经营数据公告 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、准确性和完整性承担个别及连带责任。 根据上海证券交易所《上市公司行业信息披露指引第十四号—化工》有关规 定和披露要求，公司2025年第一季度主要经营数据如下： 主要产品 经营指标 单位 2025 年第一季度 2024 年第一季度 变动比率 （%） 烯烃产品 产量 吨 446,529.26 178,992.14 149.47% 销量 吨 391,654.90 180,628.12 116.83% 销售收入 （不含税） 万元 253,353.95 115,488.25 119.38% 炭黑产品 产量 吨 197,251.28 146,710.68 34.45% 销量 吨 170,654.48 145,051.67 17.65% 销售收入 （不含税） 万元 108,106 ...