证券日报网讯1月8日，信德新材（301349）在互动平台回答投资者提问时表示，公司主要产品有负极包 覆材料和沥青基碳纤维制品。负极包覆材料主要应用于动力类、储能类、消费类锂离子电池负极等领 域。公司高度重视新能源材料领域的技术迭代与市场机遇，将结合自身业务情况持续密切关注固态电池 前沿技术发展动态。 ...

Group 1 - The core viewpoint of the news is that Xinde New Materials has shown significant financial growth, with a notable increase in revenue and net profit year-on-year [2] - As of December 31, Xinde New Materials experienced a financing net buy of -5.81 million yuan, indicating a higher level of financing repayment compared to new purchases [1] - The company’s financing balance reached 112 million yuan, accounting for 4.90% of its market capitalization, which is above the 90th percentile level over the past year [1] Group 2 - For the period from January to September 2025, Xinde New Materials achieved an operating income of 842 million yuan, representing a year-on-year growth of 48.94% [2] - The net profit attributable to the parent company for the same period was 30.72 million yuan, reflecting a substantial increase of 246.20% year-on-year [2] - The company has distributed a total of 98.31 million yuan in dividends since its A-share listing [3]

从基金十大重仓股角度 数据显示，安信基金旗下1只基金重仓信德新材。安信新能源主题股票型发起A（015707）二季度减持 1.1万股，持有股数2.07万股，占基金净值比例为5.11%，位居第七大重仓股。根据测算，今日浮盈赚取 约2.51万元。连续4天上涨期间浮盈赚取6.1万元。 安信新能源主题股票型发起A（015707）成立日期2022年7月26日，最新规模627.87万。今年以来收益 9.6%，同类排名3/4；近一年收益19.29%，同类排名3/4；成立以来亏损22.63%。 12月24日，信德新材涨2.57%，截至发稿，报48.30元/股，成交2.04亿元，换手率8.76%，总市值49.27亿 元。信德新材股价已经连续4天上涨，区间累计涨幅6.48%。 资料显示，辽宁信德新材料科技(集团)股份有限公司位于辽宁省大连长兴岛经济区马咀路58号，成立日 期2000年11月7日，上市日期2022年9月9日，公司主营业务涉及负极包覆材料产品的研发、生产与销 售。主营业务收入构成为：负极包覆材料43.10%，裂解萘馏分34.33%，炭黑原料油21.75%，碳纤维制 品0.53%，树脂0.20%，其他0.09%。 安信新 ...

Core Viewpoint - Xinde New Materials, a leading company in the anode coating materials sector, has a comprehensive product matrix that includes two major categories, four specifications, and over ten models, covering various softening points in the industry [2] Company Overview - The company is recognized as a leader in the anode coating materials field, with a well-established product range that meets the mainstream softening point requirements [2] - Xinde New Materials has built strong relationships with numerous major clients through its excellent independent R&D capabilities, precise quality control systems, and rapid market response mechanisms [2] Market Position - The company has signed strategic cooperation agreements or framework agreements with several leading anode material enterprises, ensuring stable and continuous customer relationships [2] - Xinde New Materials holds a significant market share in the anode coating materials industry [2]

Core Viewpoint - The company, Xinde New Materials (信德新材), positions itself as a leading player in the anode coating materials sector, highlighting its comprehensive product matrix and strong market presence [1] Group 1: Industry Position - The company is recognized as an industry leader in the anode coating materials field, offering a complete product matrix with two major categories, four specifications, and over ten models that cover various softening points [1] - It is one of the few manufacturers capable of covering the mainstream product softening point range in the anode coating materials market [1] Group 2: Competitive Advantages - The company has built a strong reputation among major clients due to its excellent independent R&D capabilities, meticulous quality control system, and rapid market response mechanism [1] - It has established strategic cooperation agreements or framework agreements with several leading anode material companies, resulting in stable and continuous customer relationships [1] - The company enjoys a high market share in the anode coating materials sector [1]

Macro Research - The monetary policy framework continues to emphasize "appropriate monetary policy" and "maintaining reasonable growth in financial aggregates," with a shift towards combining counter-cyclical and cross-cyclical adjustments, reflecting the requirements of the 14th Five-Year Plan [1][2][3] - The central bank's focus is transitioning from merely short-term counter-cyclical support to a more forward-looking layout that optimizes efficiency and structural adjustments to better serve long-term economic goals [3][4] Strategy Research - The technology manufacturing sector remains highly prosperous, with rising prices in memory chips and an improved outlook for the lithium battery supply chain due to tight supply and demand [4][5] - Real estate demand is weak, with a significant decline in passenger vehicle sales, while coal demand has improved, leading to a substantial price increase [4][5] Energy Equipment and New Energy Research - The future expansion of the capacity pricing mechanism for energy storage is expected to enhance the economic viability of storage solutions across more provinces, significantly boosting demand in 2026 [8][9] - The introduction of a compensation standard for energy storage in Inner Mongolia at 0.28 yuan/kWh is anticipated to stimulate storage demand [10][25] Agriculture Research - The pet consumption sector showed strong performance during the Double 11 shopping festival, with domestic brands rising in rankings and companies like Zhongchong Co. performing exceptionally well [11][12][14] - The pet industry is experiencing a shift towards higher quality and more emotional consumption behaviors, indicating a trend of pet products becoming more integrated into family life [14][12]

Core Viewpoint - Xinde New Materials is a leading enterprise in the field of anode coating materials in China, with strong R&D capabilities and a complete industry chain advantage [1] Group 1: Business Performance - For Q3 2025, Xinde New Materials reported revenue of 842 million yuan, ranking 40th among 44 companies in the industry, while the industry leader, Zhongwei Co., achieved revenue of 33.297 billion yuan [2] - The net profit for the same period was 37.884 million yuan, ranking 21st in the industry, with the top performer, Putailai, reporting a net profit of 1.872 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 17.04%, an increase from 14.78% year-on-year, significantly lower than the industry average of 51.96% [3] - The gross profit margin for Q3 2025 was 10.91%, up from 3.15% year-on-year, exceeding the industry average of 10.89% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 18.03% to 12,600, while the average number of circulating A-shares held per account increased by 41.59% to 3,887.09 [5] Group 4: Business Highlights - In Q3 2025, the company shipped 20,000 tons of products, with a full-year shipment target of 80,000 tons, representing a 33% year-on-year increase [5] - The company expects to increase its high-end product ratio to 40-50% in 2026, which will further enhance unit profitability [5] - The gross profit margin for the anode coating materials business improved to 10.83%, with a significant year-on-year increase of 8.08 percentage points [6]

Group 1: Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 842 million yuan, a year-on-year increase of 48.94% [3] - The net profit attributable to shareholders was 31 million yuan, reflecting a year-on-year growth of 246.20% [3] - The net profit excluding non-recurring gains and losses was 11 million yuan, up 124.81% year-on-year [3] - In Q3, the net profit attributable to shareholders reached 21 million yuan, with a year-on-year increase of 405.28% and a quarter-on-quarter increase of 723.91% [3] Group 2: Factors Influencing Profitability - The improvement in profitability in Q3 was driven by increased sales of the main product, negative electrode coating materials, with a noticeable enhancement in product structure [3] - The sales of by-products peaked in Q3, leading to a significant improvement in profitability due to higher sales prices and strong market demand [3] Group 3: Product Pricing and Market Strategy - The average selling price of negative electrode coating materials increased in Q3 due to a higher proportion of mid-to-high-end products sold [3] - The company plans to adjust its sales strategy based on market demand, considering factors such as raw material prices and industry competition [4] Group 4: Production Capacity and Future Plans - The company currently has a total production capacity of 70,000 tons per year for negative electrode coating materials, with production bases in Dalian and Chengdu [5] - Future capacity planning will be based on market expansion and actual downstream demand, aiming for "precise expansion" while maintaining cost advantages [5] Group 5: New Product Development - The company aims to enhance its technical advantages in negative electrode coating materials, focusing on differentiated products for fast-charging and ultra-fast charging applications [6] - Significant R&D efforts are being directed towards the development of asphalt-based carbon fibers, with applications in photovoltaic, fiber optics, and semiconductor industries [6][7] Group 6: Inventory and Product Validation - The inventory of negative electrode coating materials is low, indicating a full production and sales state [7] - The validation of asphalt-based carbon fiber products is progressing well in various fields, with ongoing efforts in the semiconductor sector due to higher product requirements [7]

Summary of Xinde New Material's Conference Call Company Overview - **Company**: Xinde New Material - **Industry**: New Materials, specifically in the battery materials sector Key Financial Performance - **Q3 2025 Performance**: - Revenue: 842 million yuan, up 49% YoY and 24% QoQ - Net Profit: 30.72 million yuan, up 246% YoY - Adjusted Net Profit: 10.88 million yuan, up 125% YoY - Significant increase in net profit: 209.1 million yuan, up 405% YoY and 724% QoQ - Main drivers: Increased sales volume, improved product mix, peak sales of by-products, and stable raw material costs [2][3][4] Production and Capacity Expansion - **Annual Shipment Forecast**: Expected to reach 80,000 tons, with high-end products accounting for 35%-40% of total sales [2][3] - **Capacity Plans for 2026**: - Total effective capacity projected to reach 80,000-90,000 tons - Dalian base capacity to increase to 50,000 tons for high-end products - Sichuan base to add 6,000 tons of high-end capacity [6][13] - **Production Utilization**: Dalian base utilization reached 110% [4] Market Dynamics - **Industry Supply and Demand**: - Industry experiencing tight supply and demand - Xinde aims to meet 30%-40% market demand growth through expansion and partnerships [8] - **Market Demand Forecast for 2026**: Expected growth of 30%-40%, particularly in high-end products [9][18] Pricing Strategy - **Price Trends**: - Average price of negative electrode coating materials increased due to higher proportion of high-end products - Potential for price increases based on market demand and raw material cost fluctuations [5][20] Product Development and R&D - **Focus Areas**: - Continued emphasis on materials such as super-fast charging, asphalt carbon fiber, silicon carbon, and porous carbon - Ongoing projects in collaboration with major companies like Hengtong, Longi, and Tongwei [7][11][15] - **New Product Lines**: High-end fast charging products are being developed with dedicated production lines [24] Customer and Market Insights - **Customer Demand Trends**: - Increased demand for high-end materials from key clients like Putailai - Notable growth in demand for high-end fast charging materials [22][23] - **Inventory Levels**: - Low inventory levels for main products due to strong market demand, with by-product inventory at approximately 30,000 tons [10][26] Strategic Initiatives - **Future Growth Strategies**: - Plans for diversification through partnerships, acquisitions, or new constructions to meet market growth [13][17] - Focus on cost control and capacity enhancement to improve profitability [28] Conclusion Xinde New Material is positioned for significant growth in the coming years, driven by strong demand for high-end battery materials, strategic capacity expansions, and a focus on innovative product development. The company is actively monitoring market conditions to ensure competitiveness and market share enhancement.

Core Viewpoint - Xinde New Materials experienced a slight decline of 0.61% in stock price on October 13, with a trading volume of 97.69 million yuan, indicating a stable market presence despite fluctuations in stock performance [1]. Financing Summary - On October 13, Xinde New Materials had a financing buy-in amount of 10.10 million yuan, with a net financing buy of 0.58 million yuan after 9.53 million yuan in financing repayments [1]. - The total financing and securities balance reached 103 million yuan, accounting for 5.38% of the circulating market value, which is above the 90th percentile level over the past year, indicating a high financing level [1]. - The company had no short-selling activity on October 13, with a short-selling balance of 0 yuan, also reflecting a high percentile level over the past year [1]. Business Performance - As of June 30, Xinde New Materials reported a total of 15,300 shareholders, an increase of 77.97% from the previous period, while the average circulating shares per person decreased by 43.81% to 2,745 shares [2]. - For the first half of 2025, the company achieved a revenue of 510 million yuan, representing a year-on-year growth of 41.31%, and a net profit attributable to shareholders of 9.81 million yuan, which is a significant increase of 169.28% year-on-year [2]. Dividend and Shareholding - Since its A-share listing, Xinde New Materials has distributed a total of 98.31 million yuan in dividends [3]. - As of June 30, 2025, notable changes in institutional holdings were observed, with certain funds like招商产业精选股票A and 招商瑞利灵活配置混合(LOF)A exiting the top ten circulating shareholders list [3].