Core Viewpoint - Longpan Technology's stock has experienced a decline of 5.02% on November 21, with a cumulative drop of 8.18% over three consecutive days, indicating potential concerns among investors regarding the company's performance and market conditions [1] Company Overview - Longpan Technology, established on March 11, 2003, and listed on April 10, 2017, is based in Nanjing, Jiangsu Province, China. The company specializes in the sales of automotive fine chemicals and lithium iron phosphate (LFP) cathode materials [1] - The company's revenue composition includes 65.14% from LFP cathode materials, 26.40% from automotive fine chemicals, 7.81% from lithium carbonate and raw material processing, and 0.66% from other businesses [1] Fund Holdings - Tianzhi Fund has a significant holding in Longpan Technology, with its Tianzhi Research-Driven Mixed A Fund (350009) holding 27,000 shares, representing 1.96% of the fund's net value, making it the fourth-largest holding [2] - The fund has incurred a floating loss of approximately 25,400 yuan today, with a total floating loss of 45,100 yuan during the three-day decline [2] Fund Manager Performance - The fund manager of Tianzhi Research-Driven Mixed A Fund, Liang Li, has been in the position for 4 years and 222 days, with the fund's total asset size at 64.314 million yuan. The best return during her tenure is 30.51%, while the worst return is -64.85% [3]

Core Viewpoint - Longpan Technology's stock price has experienced significant fluctuations, with a year-to-date increase of 91.41% and a recent decline of 2.03% on November 10, 2023, indicating volatility in investor sentiment and market conditions [1]. Company Overview - Longpan Technology, established on March 11, 2003, and listed on April 10, 2017, is based in Nanjing, Jiangsu Province, China. The company specializes in the sales of automotive fine chemicals and lithium iron phosphate (LFP) cathode materials [2]. - The company's revenue composition includes 65.14% from LFP cathode materials, 26.40% from automotive fine chemicals, 7.81% from lithium carbonate and raw material processing, and 0.66% from other businesses [2]. - Longpan Technology operates in the electric equipment industry, specifically in battery and battery chemicals, and is involved in sectors such as energy conservation, solid-state batteries, energy storage, hydrogen energy, and battery recycling [2]. Financial Performance - As of September 30, 2025, Longpan Technology reported a revenue of 58.25 billion yuan, reflecting a year-on-year growth of 2.91%. However, the net profit attributable to shareholders was -1.10 billion yuan, showing a significant increase of 63.52% compared to the previous period [3]. - The company has distributed a total of 2.56 billion yuan in dividends since its A-share listing, with no dividends paid in the last three years [4]. Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 15.35% to 85,800, while the average circulating shares per person increased by 18.14% to 6,589 shares [3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 5.3494 million shares, an increase of 1.7157 million shares from the previous period [4].

Core Viewpoint - Longpan Technology's stock has shown significant growth this year, with a year-to-date increase of 86.49%, indicating strong market performance and investor interest [1][3]. Group 1: Company Overview - Longpan Technology, established on March 11, 2003, and listed on April 10, 2017, is based in Nanjing, Jiangsu Province, and specializes in automotive fine chemicals and lithium iron phosphate (LFP) cathode materials [2]. - The company's revenue composition includes 65.14% from LFP cathode materials, 26.40% from automotive fine chemicals, 7.81% from lithium carbonate and raw material processing, and 0.66% from other businesses [2]. - Longpan Technology operates through three main divisions: automotive fine chemicals, LFP cathode materials, and other emerging businesses including daily chemicals and hydrogen energy [2]. Group 2: Financial Performance - As of September 30, 2025, Longpan Technology reported a revenue of 5.825 billion yuan, reflecting a year-on-year growth of 2.91%, while the net profit attributable to shareholders was -110 million yuan, showing a significant increase of 63.52% year-on-year [3]. - The company has distributed a total of 256 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [4]. Group 3: Market Activity - On November 7, Longpan Technology's stock price rose by 2.01%, reaching 19.32 yuan per share, with a trading volume of 277 million yuan and a turnover rate of 2.57%, resulting in a total market capitalization of 13.236 billion yuan [1]. - The stock has appeared on the "Dragon and Tiger List" four times this year, with the most recent occurrence on June 25 [1]. - The net inflow of main funds was 19.208 million yuan, with large orders accounting for 22.50% of purchases and 19.55% of sales [1].

Core Viewpoint - Longpan Technology's stock price has shown significant volatility, with a year-to-date increase of 57.63% but a recent decline of 5.11% over the last five trading days [2] Company Overview - Longpan Technology, established on March 11, 2003, and listed on April 10, 2017, is based in Nanjing, Jiangsu Province, China. The company specializes in the sales of automotive fine chemicals and lithium iron phosphate (LFP) cathode materials [2] - The company's revenue composition includes 65.14% from LFP cathode materials, 26.40% from automotive fine chemicals, 7.81% from lithium carbonate and raw material processing, and 0.66% from other businesses [2] Financial Performance - For the first half of 2025, Longpan Technology reported a revenue of 3.622 billion yuan, reflecting a year-on-year growth of 1.49%. However, the net profit attributable to shareholders was a loss of 85.15 million yuan, despite a significant year-on-year improvement of 61.45% [3] - The company has distributed a total of 256 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [4] Shareholder Information - As of June 30, 2025, Longpan Technology had 101,300 shareholders, an increase of 57.93% from the previous period. The average number of circulating shares per shareholder decreased by 36.68% to 5,577 shares [3] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 3.6338 million shares, a decrease of 821,900 shares from the previous period [4] Market Activity - On October 16, Longpan Technology's stock price fell by 2.04%, trading at 16.33 yuan per share with a total market capitalization of 11.187 billion yuan. The net outflow of main funds was 12.7123 million yuan [1]

Core Viewpoint - Longpan Technology's stock price has shown significant volatility, with a year-to-date increase of 61.58%, but a recent decline of 2.05% on October 14, 2023, indicating potential market fluctuations and investor sentiment shifts [1]. Company Overview - Longpan Technology, established on March 11, 2003, and listed on April 10, 2017, is based in Nanjing, Jiangsu Province, and specializes in the sales of automotive fine chemicals and lithium iron phosphate (LFP) cathode materials [2]. - The company's revenue composition includes 65.14% from LFP cathode materials, 26.40% from automotive fine chemicals, 7.81% from lithium carbonate and raw material processing, and 0.66% from other businesses [2]. Financial Performance - For the first half of 2025, Longpan Technology reported a revenue of 3.622 billion yuan, reflecting a year-on-year growth of 1.49%, while the net profit attributable to shareholders was a loss of 85.1534 million yuan, showing a significant improvement of 61.45% compared to the previous period [3]. - The company has distributed a total of 256 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [4]. Shareholder Information - As of June 30, 2025, Longpan Technology had 101,300 shareholders, an increase of 57.93% from the previous period, with an average of 5,577 circulating shares per shareholder, down 36.68% [3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 3.6338 million shares, a decrease of 821,900 shares from the previous period [4].

Core Viewpoint - Longpan Technology has shown significant stock performance with a year-to-date increase of 64.58%, indicating strong market interest and potential growth in the automotive chemical and lithium iron phosphate material sectors [1][2]. Company Overview - Longpan Technology, established on March 11, 2003, and listed on April 10, 2017, is based in Nanjing, Jiangsu Province, China. The company primarily engages in the sales of automotive fine chemicals and lithium iron phosphate (LFP) cathode materials [2]. - The company's revenue composition includes 65.14% from LFP cathode materials, 26.40% from automotive fine chemicals, 7.81% from lithium carbonate and raw material processing, and 0.66% from other businesses [2]. Financial Performance - For the first half of 2025, Longpan Technology reported a revenue of 3.622 billion yuan, reflecting a year-on-year growth of 1.49%. However, the net profit attributable to shareholders was a loss of 85.1534 million yuan, despite a significant year-on-year improvement of 61.45% [3]. - The company has distributed a total of 256 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [4]. Shareholder Information - As of June 30, 2025, Longpan Technology had 101,300 shareholders, an increase of 57.93% from the previous period. The average number of circulating shares per shareholder decreased by 36.68% to 5,577 shares [3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 3.6338 million shares, a decrease of 821,900 shares compared to the previous period [4].

Core Viewpoint - Longpan Technology (SH603906) reported a narrowed net loss in the first half of 2025 compared to the previous year, indicating potential recovery in financial performance [1] Financial Performance - The company's operating revenue for the first half of 2025 was 3.622 billion, a year-on-year increase of 1.49% [2] - The total profit was -983.15 million, showing a significant improvement from -1.984 billion in the same period last year [2] - The net profit attributable to shareholders was -851.53 million, a 61.45% improvement year-on-year [2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -1.317 billion, reflecting a 55.75% improvement [2] - Basic earnings per share were -0.13 yuan [2] Profitability Metrics - The gross profit margin for the first half of 2025 was 13.84%, an increase of 3.68 percentage points year-on-year [3] - The net profit margin was -3.04%, an increase of 4.35 percentage points compared to the previous year [3] Expense Management - Total operating expenses for the first half of 2025 were 566 million, a decrease of 18.06 million from the previous year [3] - The expense ratio was 15.62%, down 0.74 percentage points year-on-year [3] - Sales expenses decreased by 13.71%, while management expenses increased by 0.84% [3] - Research and development expenses decreased by 6.63%, and financial expenses increased by 4.21% [3] Shareholder Information - The chairman of Longpan Technology, Shi Junfeng, received a salary of 968,100 yuan in 2024, a 22.96% increase from 787,300 yuan the previous year [5] Company Overview - Longpan Technology primarily engages in the sales of automotive fine chemicals and lithium iron phosphate cathode materials [7] - The company operates through three divisions, focusing on a diverse range of automotive fine chemical products [7]

Investment Rating - The report maintains a "Buy" rating for the company, expecting the stock price to outperform the industry index by more than 15% in the next six months [4][16]. Core Views - The company is experiencing growth in its overseas lithium iron phosphate (LiFePO4) shipments and has stabilized its lithium carbonate business. The overseas production capacity is expected to generate significant revenue and profit due to high-priced orders [2][3]. - The traditional business segments, including lubricants and automotive maintenance products, have shown stable performance, contributing to a slight increase in overall revenue [3]. - The company is projected to achieve revenues of 86.86 billion, 104.47 billion, and 123.86 billion yuan from 2025 to 2027, with net profits of 0.88 billion, 2.84 billion, and 6.4 billion yuan respectively, indicating substantial growth rates [3]. Financial Summary - For 2023, the company reported a revenue of 8,729 million yuan, with a year-over-year decline of 38%. The net profit attributable to shareholders was -1,233 million yuan, reflecting a significant loss [1]. - The revenue is expected to recover to 7,673 million yuan in 2024, with a projected growth of 13.2% in 2025, reaching 8,686 million yuan [1]. - The company’s return on equity (ROE) is forecasted to improve from -36.2% in 2023 to 15.1% by 2027, indicating a recovery in profitability [1]. Business Segments - The company shipped approximately 78,000 tons of lithium iron phosphate materials in the first half of 2025, generating revenue of 2.314 billion yuan. The average selling price per ton increased by 8.2% in Q2 [2]. - The lithium carbonate processing plant in Yichun is ramping up production, with external sales of 7,066.34 tons in the first half of the year, contributing 280 million yuan to revenue [2]. - The traditional business segments, including lubricants and automotive maintenance products, achieved stable sales volumes, with a slight overall revenue increase of 0.07% [3].

Group 1 - The stock price of Longpan Technology increased by 2.04% on August 25, reaching 14.99 yuan per share, with a total market capitalization of 10.269 billion yuan [1] - Year-to-date, Longpan Technology's stock price has risen by 44.69%, with a recent decline of 0.66% over the last five trading days [1] - The company has appeared on the "Dragon and Tiger List" four times this year, with the most recent occurrence on June 25 [1] Group 2 - Longpan Technology, established on March 11, 2003, and listed on April 10, 2017, primarily engages in the sales of automotive fine chemicals and lithium iron phosphate cathode materials [2] - The revenue composition of Longpan Technology includes 73.23% from lithium iron phosphate cathode materials, 23.93% from automotive environmental fine chemicals, and 2.14% from other products [2] - The company operates in the electric equipment industry, specifically in battery and battery chemicals, and is associated with concepts such as National VI standards, energy storage, exhaust treatment, hydrogen energy, and BYD concepts [2] Group 3 - As of June 30, the number of shareholders for Longpan Technology increased to 101,300, a rise of 57.93%, while the average circulating shares per person decreased by 36.68% [3] - For the first half of 2025, Longpan Technology reported a revenue of 3.622 billion yuan, a year-on-year increase of 1.49%, while the net profit attributable to shareholders was -85.1534 million yuan, reflecting a year-on-year growth of 61.45% [3] Group 4 - Longpan Technology has distributed a total of 256 million yuan in dividends since its A-share listing, with 105 million yuan distributed over the past three years [4] - As of June 30, 2025, Hong Kong Central Clearing Limited was the fifth-largest circulating shareholder, holding 3.6338 million shares, a decrease of 821,900 shares from the previous period [4]

证券代码：603906 证券简称：龙蟠科技 公告编号：2025-057 江苏龙蟠科技股份有限公司 关于 2025 年一季度主要经营数据的公告 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法律责任。 （二）主要原材料价格变动情况 公司2025年一季度主要原材料价格均有不同幅度的变化，其中基础油采购均 价较上年同期减少811.69元/吨，下降9.50%；乙二醇采购均价较上年同期增加 287.52元/吨，增长7.39%；尿素采购均价较上年同期减少518.34元/吨，下降24.23%； 磷酸铁采购均价较上年同期减少237.39元/吨，下降2.68%；碳酸锂采购均价较上 年同期减少19,539.93元/吨，下降22.62%。 三、报告期内其他对公司生产经营具有重大影响的事项 根据上海证券交易所《上市公司行业信息披露指引第十八号——化工》及相 关规定要求，现将公司2025年一季度主要经营数据情况披露如下： | 主要产品 | 产量（吨） | 销量（吨） | 营业收入（万元） | | --- | --- | --- | --- | | 润滑油 | 1 ...