Group 1: Financial Performance and Projections - The company aims to achieve an annual revenue of 8 billion in 2025, focusing on high-quality development driven by technological innovation [1] - The sales of rare earth permanent magnet products are expected to see significant growth compared to the same period last year [1] - The company's core business has shown an increase in both production and profitability, contributing to a substantial growth in performance compared to the previous year [4] Group 2: Product Development and Market Position - The international patent for "black phosphorus nanosheets and their preparation methods and applications" has been granted by the US Patent and Trademark Office, but there are currently no plans for industrialization [2] - The battery-grade manganese oxide is primarily used in the production of lithium manganese oxide and lithium iron manganese phosphate, recognized for its excellent electrical performance and chemical stability [2] - The company has not entered into a joint venture with Northern Rare Earth for factory establishment [5] Group 3: Corporate Governance and Investor Relations - Recent amendments to the company's articles of association include the elimination of the supervisory board, with its powers transferred to the audit committee of the board of directors, enhancing governance efficiency [6] - The company has not disclosed the amount of winning contracts, but it is encouraged to do so to boost investor confidence [4] - The company is currently evaluating the use of raised funds, with no specific project direction confirmed yet [4]

Group 1: Macroeconomic Developments - China and the US held talks in Madrid regarding trade issues on September 14 [1] - The Ministry of Commerce initiated an anti-dumping investigation into US-imported simulation chips, responding to domestic industry requests [1] - The State Council will release August's national economic performance data on September 15, with previous data showing industrial output growth of 5.7% and retail sales growth of 3.7% in July [1] Group 2: Automotive Industry - Eight departments, including the Ministry of Industry and Information Technology, aim for 32.3 million vehicle sales in 2025, a 3% increase year-on-year, with 15.5 million being new energy vehicles, reflecting a 20% growth [2] - The automotive manufacturing industry's value-added is expected to grow by approximately 6% [2] Group 3: Financial Sector - The People's Bank of China will conduct a 600 billion yuan reverse repurchase operation on September 15 to maintain liquidity [2] - In the first eight months of 2025, RMB loans increased by 13.46 trillion yuan, with total social financing reaching 26.56 trillion yuan, up 4.66 trillion yuan year-on-year [2] Group 4: Food Safety and Regulation - The State Administration for Market Regulation is seeking public opinions on a draft management method for food safety inspectors, with feedback due by October 13 [3] Group 5: International Cooperation - The "2025 Budapest Renminbi Initiative" forum highlighted the growing use of RMB in China-Hungary trade, with a 63% year-on-year increase in RMB settlements in the first half of the year [5] Group 6: Renewable Energy - The largest onshore wind power project in China, with a capacity of 1.5 million kilowatts, officially commenced commercial operation on September 14 [6] Group 7: Company News - Das Intelligent signed a contract worth 23.869 million yuan for a smart project with Xiaomi in Wuhan [8] - Huibo Yuntong plans to acquire 22.0875% of Baode Computing to gain control [9] - Zhonggang Tianyuan has fully released its capacity of 35,000 tons of battery-grade manganese tetroxide [10]

每经AI快讯，有投资者在投资者互动平台提问：董秘您好，请教两方面问题：1、据我所知，在固态电 池材料中，四氧化三锰既可以做三元路线锰源又可以做磷酸盐路线的锰源，更可以做富锂锰基路线的锰 源，且采用四氧化三锰作为锰源的性能和成本优于其他锰源（二氧化锰和硫酸锰等），以上说法，在贵 公司与下游固态电池客户合作中是否得到验证？2、请问贵公司目前电池级四氧化三锰产能利用率多 少？有没有向当升、容百、裕能、德方纳米等正极材料龙头供货？ 中钢天源（002057.SZ）9月14日在投资者互动平台表示，公司四氧化三锰产品可用于锰酸锂、磷酸铁锰 锂等电池材料中，是锰基正极产业链中重要的上游材料，部分应用场景下较其他锰源具有优势。目前， 公司3.5万吨电池级四氧化三锰产能充分释放，有向正极材料部分龙头企业供货。 （文章来源：每日经济新闻） ...

Core Viewpoint - The battery-grade manganese market is expected to continue its rapid growth, with a projected shipment volume of 57,000 tons in the first half of 2025, representing a year-on-year increase of 54% [1]. Group 1: Market Dynamics - Traditional manganese-based materials, particularly lithium manganese oxide, remain the largest application area, accounting for over 80% of the market in the first half of 2025. However, the share of new manganese-based cathode materials, such as lithium manganese iron phosphate, is increasing significantly [3]. - The new manganese-based cathode materials are anticipated to become the largest application market for battery-grade manganese as technologies like lithium iron phosphate and high-voltage nickel manganese oxide scale up in the near future [4]. Group 2: Production Processes - There are currently three main production processes for battery-grade manganese: metal manganese, manganese sulfate, and recycling methods. The metal manganese process holds the highest market share, with leading companies including Zhonggang Tianyuan. The manganese sulfate process ranks second, represented by Huicheng New Materials, while the recycling method is led by Shidai Zhongneng. Compared to 2024, the market share of the metal manganese process has decreased in the first half of 2025, while the shares of manganese sulfate and recycling methods have increased [6]. Group 3: Industry Concentration - The battery-grade manganese industry has a high concentration, with leading companies such as Zhonggang Tianyuan, Huicheng New Materials, Hunan Shuangfu, Zhongzhe New Materials, and Guangxi Manganese Hua collectively holding an 80% market share in the first half of 2025 [8]. Group 4: Future Outlook - With breakthroughs in manganese-based cathode material technology, the penetration rate of manganese materials is expected to continue increasing. Coupled with the inherent advantages of low cost and long cycle life of manganese materials, the shipment volume is projected to maintain high growth [10].

每经AI快讯，有投资者在投资者互动平台提问：公司新增的2万吨四氧化三锰产能是否已实现满产满 销？下游客户（如比亚迪）订单是否持续增长？ 中钢天源（002057.SZ）8月4日在投资者互动平台表示，公司电池级四氧化三锰目前3.5万吨产能，订单 饱满。感谢您的关注。 （文章来源：每日经济新闻） ...

Group 1 - The company currently has a production capacity of 35,000 tons for battery-grade manganese tetroxide, indicating strong operational capabilities [1] - The order book for the company's products is fully booked, suggesting robust demand in the market [1]

Group 1 - The company in Tongren City, Guizhou, has developed a two-stage roasting activation technology for the resource utilization of electrolytic manganese slag, transforming waste into valuable materials such as cement additives and roadbed materials [1] - The company has processed a total of 63,375 tons of manganese slag, producing approximately 46,000 tons of harmless manganese slag, successfully exploring a path for harmless treatment and resource utilization of manganese slag [1] - Tongren City is a significant manganese production base in China, with proven manganese ore reserves of about 800 million tons, and has been addressing environmental pollution caused by traditional slag disposal methods [1] Group 2 - In the Dalong Economic Development Zone, a new functional materials company processes sulfurized manganese slag to extract valuable metals like nickel, cobalt, and manganese, creating a circular economy by using waste as production materials for cement [3] - The Dalong Economic Development Zone has attracted multiple new functional materials companies, forming an upstream and downstream processing industrial chain for manganese-based new materials, with products being exported to countries like South Korea, Japan, and Europe [3] - The new functional materials industry cluster in Tongren has been recognized as one of the first 66 national strategic emerging industry clusters, with a reported industrial output value of 7.93 billion yuan in Q1 2025, reflecting a year-on-year growth of 14.6% [3] Group 3 - Guizhou Province ranks among the top 10 in China for mineral resource reserves, including coal, phosphorus, aluminum, and manganese, and has established a resource-based industrial foundation focusing on new energy battery materials and related sectors [4] - In Q1 2025, Guizhou's industrial added value above designated size grew by 10.3%, surpassing the national average, with significant growth in the automotive manufacturing sector, particularly in new energy vehicles [4] - The province is transitioning from a "resource-rich" area to an "industrial highland" by strengthening and innovating emerging industries, with substantial growth in the new energy battery and materials sector [4]