格隆汇9月30日丨丰山集团(603810.SH)公布股票交易异常波动暨风险提示公告，公司关注到近期部分媒 体报道称公司涉及"固态电池"热点概念。公司目前主营业务仍以原药及制剂的生产、研发、销售为主， 公司主营业务未发生变化，且丰山全诺目前主要销售锂离子电解液，钠离子电解液占比相对较小，且销 售不涉及固态电池电解质材料。截至2025年上半年，钠离子电解液销售额占公司合并报表营业收入的比 例为0.01%。此外，关于清华大学张强教授团队近期发表的重要研究成果，与我公司委托其开展的研究 开发项目并非同一项研发项目。目前，公司与清华大学合作处于初步研究开发启动阶段，合同金额较 小，技术开发项目周期至2028年12月31日，项目周期较长，后续研发成果及成果的商业化存在较大的不 确定性。请广大投资者在决策时务必谨慎，并注意防范潜在的投资风险。 ...

Core Viewpoint - Fengshan Group (603810.SH) clarifies that its main business remains focused on the production, research, and sales of raw medicines and formulations, despite media reports linking the company to the "solid-state battery" concept [1] Business Operations - The company emphasizes that its main operations have not changed, and its subsidiary Fengshan Quannuo primarily sells lithium-ion electrolytes, with sodium-ion electrolytes accounting for a relatively small proportion of sales [1] - As of the first half of 2025, sodium-ion electrolyte sales are projected to represent only 0.01% of the company's consolidated revenue [1] Research and Development - The recent important research results published by Professor Zhang Qiang's team from Tsinghua University are not related to the research and development project commissioned by the company [1] - The collaboration with Tsinghua University is still in the preliminary research and development phase, with a small contract amount, and the technical development project is expected to last until December 31, 2028, indicating significant uncertainty regarding future research outcomes and commercialization [1]

智通财经APP讯，丰山集团(603810.SH)发布股票交易异常波动暨风险提示公告称，公司关注到近期部 分媒体报道称公司涉及"固态电池"热点概念。公司目前主营业务仍以原药及制剂的生产、研发、销售为 主，公司主营业务未发生变化，且公司控股子公司丰山全诺目前主要销售锂离子电解液，钠离子电解液 占比相对较小，且销售不涉及固态电池电解质材料。截至2025年上半年，钠离子电解液销售额占公司合 并报表营业收入的比例为0.01%。此外，关于清华大学张强教授团队近期发表的重要研究成果，与我公 司委托其开展的研究开发项目并非同一项研发项目。目前，公司与清华大学合作处于初步研究开发启动 阶段，合同金额较小，技术开发项目周期至2028年12月31日，后续研发成果及成果的商业化存在较大的 不确定性。 ...

Core Viewpoint - The company, Fengshan Group (603810.SH), clarifies that its main business remains focused on the production, research, and sales of raw medicines and formulations, despite recent media reports linking it to the "solid-state battery" concept [1] Business Operations - The company’s main business has not changed, and its subsidiary, Fengshan Quannuo, primarily sells lithium-ion electrolytes, with sodium-ion electrolytes making up a relatively small portion of sales [1] - As of the first half of 2025, sodium-ion electrolyte sales are expected to account for only 0.01% of the company's consolidated revenue [1] Research and Development - The important research results published by Professor Zhang Qiang's team from Tsinghua University are not related to the research and development project commissioned by the company [1] - The collaboration with Tsinghua University is still in the preliminary research and development phase, with a small contract amount, and the technical development project is scheduled to last until December 31, 2028 [1] - There is significant uncertainty regarding the subsequent research outcomes and their commercialization [1]

丰山集团9月30日公告，公司关注到近期部分媒体报道称公司涉及"固态电池"热点概念。公司目前主营 业务仍以原药及制剂的生产、研发、销售为主，公司主营业务未发生变化，且公司控股子公司丰山全诺 目前主要销售锂离子电解液，钠离子电解液占比相对较小，且销售不涉及固态电池电解质材料。截至 2025年上半年，钠离子电解液销售额占公司合并报表营业收入的比例为0.01%。此外，关于清华大学张 强教授团队近期发表的重要研究成果，与我公司委托其开展的研究开发项目并非同一项研发项目。目 前，公司与清华大学合作处于初步研究开发启动阶段，合同金额较小，技术开发项目周期至2028年12月 31日，后续研发成果及成果的商业化存在较大的不确定性。敬请广大投资者关注相关风险，理性决策， 审慎投资。 ...

每经AI快讯，9月30日，丰山集团(603810.SH)发布股票交易异常波动暨风险提示公告称，公司关注到近 期部分媒体报道称公司涉及"固态电池"热点概念。公司目前主营业务仍以原药及制剂的生产、研发、销 售为主，公司主营业务未发生变化，且公司控股子公司丰山全诺目前主要销售锂离子电解液，钠离子电 解液占比相对较小，且销售不涉及固态电池电解质材料。截至2025年上半年，钠离子电解液销售额占公 司合并报表营业收入的比例为0.01%。此外，关于清华大学张强教授团队近期发表的重要研究成果，与 我公司委托其开展的研究开发项目并非同一项研发项目。目前，公司与清华大学合作处于初步研究开发 启动阶段，合同金额较小，技术开发项目周期至2028年12月31日，后续研发成果及成果的商业化存在较 大的不确定性。敬请广大投资者关注相关风险，理性决策，审慎投资。 ...

Core Viewpoint - Fengshan Group (603810) clarifies that its main business remains focused on the production, research, and sales of raw medicines and formulations, despite media reports linking the company to the "solid-state battery" concept [1] Business Operations - The company’s main business has not changed, and its subsidiary Fengshan Quannuo primarily sells lithium-ion electrolytes, with sodium-ion electrolytes accounting for a relatively small proportion of sales [1] - As of the first half of 2025, sodium-ion electrolyte sales are expected to represent only 0.01% of the company’s consolidated revenue [1] Research and Development - The recent important research results published by Professor Zhang Qiang's team from Tsinghua University are not related to the research and development project commissioned by the company [1] - The collaboration with Tsinghua University is still in the preliminary research and development phase, with a small contract amount, and the technical development project is scheduled to last until December 31, 2028, indicating significant uncertainty regarding future research outcomes and commercialization [1]

Group 1: Nandu Power (南都电源) - Nandu Power focuses on the energy storage sector, providing lithium-ion and lead batteries, with a global presence in over 160 countries [1] - In the first half of 2025, the company expects revenue of approximately 3.923 billion yuan, a year-on-year decrease of 1.8 billion yuan, and a net profit of approximately -230 million yuan [1] - The company achieved a quarterly profit of approximately 34 million yuan in Q2, driven by high-margin orders in the global energy storage market and rapid growth in data center business [1] - Nandu Power has a current lithium battery cell capacity of 10 GWh and is expanding its new power storage integration capacity [1] - The company has secured multiple high-pressure lithium battery data center projects, with an order backlog of approximately 0.8 GWh [1] Group 2: Zhenhua Co., Ltd. (振华股份) - Zhenhua Co., Ltd. reported double-digit growth in export volumes, primarily driven by domestic demand [2] - The company maintains a cost-plus pricing strategy and has seen historical high gross margins in Q2, with limited expansion from competitors [2] - Cash flow has decreased due to accounts receivable and inventory, while the production of ultra-fine aluminum hydroxide has expanded [2] Group 3: Maide Medical (迈得医疗) - Maide Medical has a competitive advantage in the domestic contact lens market due to over 20 years of technical accumulation and short delivery times [3] - The company is in the expansion phase of its contact lens business, planning to commercialize through a CDMO and self-brand sales model [3] - The main business of the company is under pressure, but growth in blood purification equipment and drug-device combination products is expected to reverse the loss situation in 2024 [3] Group 4: Changcheng Fund (长城基金) - Changcheng Fund has an asset management scale of 349.902 billion yuan, ranking 29th among 210 funds [4] - The fund has 242 public funds under management, ranking 27th among 210 [4] - The best-performing public fund in the past year is Changcheng Health Mixed A, with a net value increase of 106.13% [4]

Group 1 - The core viewpoint of the article highlights the recent research conducted by Pengyang Fund on Zhuhua Co., Ltd. (603067), focusing on the company's performance and market dynamics [1] - Zhuhua Co., Ltd. has seen a double-digit annual growth in exports, with the majority of the increase coming from domestic markets [1] - The company's pricing strategy is based on cost-plus, and management has adopted a cautious approach [1] Group 2 - In the second quarter, Zhuhua Co., Ltd. achieved a historical high in gross margin, with limited capacity expansion from competitors [1] - The company is facing reduced cash flow due to accounts receivable and inventory occupation, while expanding the production of ultra-fine aluminum hydroxide [1] - The lithium-ion electrolyte production is low but maintains stable gross margins, with no significant capacity increases observed in the industry [1] Group 3 - Pengyang Fund, established in 2016, has an asset management scale of 143.7 billion yuan, ranking 48th out of 210 in total public funds [1] - The fund's non-monetary public fund asset management scale is 124.753 billion yuan, ranking 41st out of 210 [1] - The best-performing public fund product in the past year is Pengyang North Certificate 50 Index A, with a latest net value of 1.46 and a growth of 90.21% over the past year [1]

Core Viewpoint - Jiangsu Fengshan Group Co., Ltd. maintains an AA- credit rating with a stable outlook, reflecting its strong product structure and customer quality, despite facing challenges in profitability and industry conditions [4][9]. Company Overview - The company primarily engages in the research, production, and sales of pesticide active ingredients, formulations, and fine chemical intermediates [11]. - The fine chemical segment has entered trial production, enhancing the company's product chain and competitiveness [6][11]. Financial Performance - Total assets as of March 2025 are 27.81 billion, with equity attributable to shareholders at 15.91 billion [4]. - Revenue for 2023 is reported at 3.22 billion, a decline from 10.44 billion in 2022, with a net profit of 0.15 billion, recovering from a loss of 0.42 billion in 2022 [4][5]. - The company’s operating cash flow has been negative, indicating challenges in cash generation [4]. Industry Environment - The pesticide industry is currently at a cyclical low, with a projected slight decline in revenue for 2024, while the net profit is expected to remain a loss of 0.39 billion [6][9]. - The global pesticide market is expected to grow from 790.6 billion in 2024 to 1,185.1 billion by 2031, driven by increasing food demand and pest control needs [14]. Risks and Challenges - The company faces risks related to the commercialization of sodium-ion electrolyte products, which are not progressing as expected, leading to underutilization of production capacity [7][8]. - Environmental and safety production risks are heightened due to stricter regulations in the chemical industry [8][9]. Market Position - The company has a competitive edge in its core pesticide products, with significant market share in active ingredients like Fluorochloromethane and Quinclorac [15][16]. - The sales concentration remains low, with a diverse customer base, reducing dependency on a few clients [19]. Future Outlook - The credit rating agency maintains a stable outlook for the company, anticipating gradual recovery in market demand and pricing for its main products [9][12]. - The company is actively managing inventory and production to align with market conditions, indicating a strategic approach to navigating current challenges [19].