香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 建議變更募集資金用途 為提高募集資金使用效率，經董事會審議通過，以將全球發售募集資金淨額中 劃撥的143.8百萬港元的擬定用途作出調整，由擬用於在為位於遼寧省葫蘆島 市的生產工廠的生產活動提供部分資金、在烏茲別克斯坦及印度尼西亞建設 海外生產工廠、實施營銷計劃、償還部分銀行貸款與一般營運資金變更為用於 廣東省茂名市設立水泥助磨劑與混凝土助磨劑生產工廠項目（「茂名項目」）（「建 議變更」）。 根據本公司章程細則，變更未動用募集資金淨額的用途須取得股東批准。因此， 建議變更需待股東於本公司股東會上以普通决議案方式批准後方可作實。 Anhui Conch Material Technology Co., Ltd. 安徽海螺材料科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：02560） 建議變更募集資金用途 茲提述(i)安徽海螺材料科技股份有限公司（「本公司」）日期為二零二四年十二月 ...

Investment Rating - The report rates the industry as "Outperform" [2] Core Insights - The production of domestic batteries in February 2026 decreased by 15.71% month-on-month but increased by approximately 41.18% year-on-year, with a total output of 141.6 GWh [2] - The price of battery-grade lithium carbonate has risen to 153,500 CNY/ton, while the price of battery-grade ethylene carbonate increased by 23.30% to 6,400 CNY/ton as of March 13, 2026 [2] - The demand for lithium iron phosphate batteries saw a monthly shipment of 20.60 GWh in February 2026, which is a year-on-year decrease of 24.46% and a month-on-month decrease of 37.00% [2] Summary by Sections Production - In February 2026, domestic production of lithium iron phosphate cathode materials reached 268,000 tons, reflecting a month-on-month increase of 9.34% and a year-on-year increase of 67.92% [2] Prices - The average price of lithium iron phosphate (power type) was reported at 54,100 CNY/ton, showing a slight decrease of 0.18% from March 3, 2026 [2] - The average price of lithium hexafluorophosphate remained stable at 111,000 CNY/ton as of March 9, 2026 [2] Domestic Demand - The newly awarded capacity for energy storage in China reached 34.45 GWh in February 2026, marking a month-on-month increase of 46.97% and a year-on-year growth of 6.03% [2] - The monthly shipment of ternary power batteries was 5.70 GWh in February 2026, which is a year-on-year decrease of 10.94% and a month-on-month decrease of 39.36% [2] Overseas Demand - The export volume of Chinese power batteries in February 2026 was 16.90 GWh, representing a year-on-year increase of 32.03% but a month-on-month decrease of 4.52% [2] - Global sales of new energy vehicles in January 2026 totaled 1.1829 million units, reflecting a year-on-year decrease of 5.99% and a month-on-month decrease of 45.04% [2]

Core Viewpoint - The successful commissioning of the 410,000 tons/year carbonate ester joint unit by Fujian Baihong Chemical Co., designed by Sinopec Guangzhou Engineering Company, marks a significant milestone as the largest carbonate ester joint unit in China, enhancing the supply of high-purity lithium-ion battery electrolyte solvents and supporting the rapid development of the new energy vehicle and energy storage industries [1][2]. Group 1 - The unit produces high-purity lithium-ion battery electrolyte solvents, including ethylene carbonate (EC), propylene carbonate (PC), dimethyl carbonate (DMC), ethyl methyl carbonate (EMC), and diethyl carbonate (DEC), which are essential for the production of chemical raw materials, industrial solvents, and green chemicals [1]. - The commissioning of the unit significantly enhances the supply capacity of high-quality electrolyte solvents, alleviating the pressure on the new energy battery industry's demand for high-end solvents [2]. - The unit's production will provide stable and high-quality solvent materials for power batteries of new energy vehicles and energy storage batteries, thus supporting the sustainable and rapid development of the new energy and energy storage industries [2]. Group 2 - The establishment of the unit will optimize the supply structure of the domestic carbonate ester industry, contributing to an increase in industry concentration and overall energy efficiency [2]. - The project promotes the development of the carbonate ester and lithium battery electrolyte industries towards high-end and differentiated directions [2].

Core Viewpoint - The partnership between Haike New Source and BYD Lithium Battery marks a significant strengthening of their strategic relationship, focusing on the supply of electrolyte solvents for BYD's battery project in Hubei [2] Group 1: Partnership Details - Haike New Source has signed a three-year pipeline cooperation agreement with BYD Lithium Battery, committing to a supply of no less than 100,000 tons per year of electrolyte solvents [2] - The collaboration will provide products such as dimethyl carbonate, ethylene carbonate, and methyl ethyl carbonate, showcasing Haike New Source's 20 years of expertise in carbonate electrolyte solvents [2] Group 2: Technological and Operational Innovations - Haike New Source's localized supply chain strategy employs a closed pipeline transportation model, significantly reducing logistics costs and delivery risks while ensuring seamless integration from raw materials to production [3] - This innovative cooperation model addresses operational pain points in the electric vehicle supply chain and represents Haike New Source's transformation from a single material supplier to a comprehensive solution provider focused on technology, service, and low carbon [3]

Group 1 - The core viewpoint is that the vinyl carbonate market is saturated, and the company currently has no plans for capacity expansion [1] - The company is collaborating with Tianqi Materials on surfactant products [1]

Core Viewpoint - Shida Shenghua New Materials Group Co., Ltd. has established a comprehensive industrial layout over 23 years, focusing on carbonate products and expanding its production and sales networks both domestically and internationally [3][4]. Group 1: Company Development - The company began its journey in 2002 with the construction of its first dimethyl carbonate facility and has since developed five types of carbonate solvents, becoming the world's first manufacturer to offer all five [3]. - In 2016, the company expanded into lithium hexafluorophosphate products, followed by electrolyte additives and electrolytes in 2021, and silicon-based anode products in 2022 [3]. - In 2023, the company's electrolyte products were integrated into the supply chain of CATL (Contemporary Amperex Technology Co., Limited), marking a strategic shift to a one-stop procurement service provider for electrolyte materials [3]. Group 2: Production and Sales Network - The company has established production bases in various Chinese cities, including Jining, Quanzhou, Wuhan, and Meishan, and has set up subsidiaries in Japan, Europe, and the United States, along with an office in South Korea, creating a global sales network [3]. - The company utilizes both PO and EO production routes for carbonates, achieving an integrated industrial chain layout at its Dongying base, which maximizes economic profits through upstream and downstream product interconnections [3]. Group 3: Competitive Position - After 23 years of development, the company has built a diversified core product portfolio, a nationwide production base, a global sales network, a multi-tiered high-end customer base, and various production processes, maintaining industry leadership in market share, product quality, and overall competitiveness [4].