南财智讯11月21日电，恩捷股份在投资者关系活动中表示，公司目前在手订单充沛，产能利用率处于较 高水平，下游客户需求稳定增长，2025年出货量有望进一步提升。随着行业供需格局改善和产能利用率 稳步提高，公司预计隔膜产品价格将逐步趋向良性恢复，盈利水平也将回升至制造业合理区间。 ...

Core Viewpoint - The company, Cangzhou Mingzhu, has confirmed that its diaphragm products are primarily used in lithium-ion batteries and have been adopted by major domestic and international battery manufacturers, including Samsung SDI [2]. Group 1 - The diaphragm products produced by the company are mainly applied in lithium-ion batteries [2]. - The products have entered the supply chains of leading domestic and international battery enterprises [2]. - Notable downstream customers include Samsung SDI [2].

Core Viewpoint - The company, Cangzhou Mingzhu (002108.SZ), produces separator products primarily used in lithium-ion batteries, which have been adopted by major domestic and international battery manufacturers, including Samsung SDI [1] Group 1 - The separator products are essential components in lithium-ion batteries [1] - The company has established a presence in both domestic and international markets [1] - Major downstream customers include prominent battery manufacturers [1]

Group 1 - The company, Cangzhou Mingzhu (002108.SZ), confirmed its role as a supplier of battery separators to Samsung SDI, indicating a long-term partnership [2] - The company's separator products are primarily used in lithium-ion batteries and have been integrated into major domestic and international battery manufacturers [2]

Core Viewpoint - The company has disclosed its third-quarter financial report for 2025, ensuring the accuracy and completeness of the information provided, and has undertaken legal responsibilities for any misrepresentation or omissions [2][20]. Financial Data - The company confirmed that there are no adjustments or restatements required for previous accounting data [4]. - The third-quarter financial report has not been audited [3][14]. - The company reported that there are no non-recurring gains or losses applicable for the period [4]. Shareholder Information - The company has undergone a significant change in its shareholding structure, with a major shareholder planning to transfer 23,015,800 shares, representing 5.32% of the total share capital, although this transfer has since been terminated [7]. Corporate Actions - The company has approved a merger between its subsidiaries to streamline operations and improve efficiency [7]. - The company has initiated a project for urban renewal in Longgang District, which has been approved in its draft form, although the final outcomes and economic benefits remain uncertain [6]. Investment Projects - The company is investing in solid-state battery technology, with a total planned investment of 1.2 billion yuan for a production line project [11]. - Progress has been made in various aspects of the solid-state battery project, including successful customer testing and order acquisition for semi-solid batteries [12]. Governance Changes - An independent director has resigned, which may affect the composition of the board and the required proportion of independent directors [15][16].

Group 1 - The core viewpoint of the article indicates that the overall profitability of the diaphragm industry is currently poor, leading to a slowdown in industry expansion and some small to medium enterprises halting their expansion plans [1] - As a leading company in the diaphragm sector, the company enjoys a strong brand advantage and is recognized by numerous downstream customers, with recent stable growth in customer demand and orders [1] - The company's capacity utilization is currently at a high level, and it aims to ensure stable supply to downstream customers while improving profitability through enhancing product performance and optimizing product structure [1] Group 2 - The pricing of diaphragm products is determined by supply and demand as well as product performance, and the company will strive to meet the demand for high-quality diaphragms in a tight capacity situation [1]

Core Viewpoint - The company has not yet ventured into chip manufacturing and packaging for functional films, focusing instead on its CPI film project which is currently undergoing customer validation [1] Group 1: Company Developments - The company is collaborating with the Institute of Physics, Chinese Academy of Sciences, for research and development, with details available in their announcement regarding the signing of a technology development contract [1] - The company has developed a unique separator product with ultra-high porosity, large pore size, and high compressibility, which can be widely used across different electrolyte technology routes [1] Group 2: Product Applications and Benefits - The separator product demonstrates a leading ionic conductivity in polymer solid electrolyte batteries, surpassing competitors by an order of magnitude [1] - In practical applications with other electrolyte routes, the product effectively addresses the expansion issues of carbon-silicon anodes or lithium metal anodes [1] - Overall, the product significantly enhances the cycle life, capacity, operating temperature, safety, and cycling performance of solid and semi-solid batteries compared to traditional separators [1]

Core Viewpoint - The company, Changyang Technology, is currently not engaged in chip manufacturing and packaging for functional membranes, focusing instead on its CPI film project which is under customer validation [1] Group 1: Company Developments - The company is collaborating with the Institute of Physics, Chinese Academy of Sciences, for research and development, with details available in their announcement regarding the signing of a technology development contract [1] - The company has developed a unique membrane product with ultra-high porosity, large pore size, and high compressibility, which can be widely used across different electrolyte technology routes in solid-state or semi-solid-state batteries [1] Group 2: Product Applications and Benefits - When applied in polymer solid electrolyte batteries, the company's membrane can achieve ionic conductivity that is an order of magnitude higher than competitors [1] - The membrane effectively addresses the expansion issues associated with carbon-silicon anodes or lithium metal anodes in practical customer applications [1] - Overall, the product significantly enhances the cycle life, capacity, operating temperature, safety, and cycling performance of solid-state and semi-solid-state batteries compared to traditional membranes [1]

Core Viewpoint - The company has developed high-strength heat-resistant composite skeleton membranes and other related products, which have been sent to leading battery manufacturers for sampling [1] Group 1: Product Development - The company is focusing on the development of high-strength heat-resistant composite skeleton membranes, high porosity skeleton membranes, and high heat-resistant large pore skeleton membranes [1] - These rigid skeleton membrane products are being sampled by top battery enterprises [1] Group 2: Intellectual Property - The company places a high emphasis on intellectual property protection [1] - All membrane products produced by the company possess complete independent intellectual property rights or have obtained relevant intellectual property licenses [1] Group 3: Financial Disclosure - The company advises stakeholders to refer to its periodic reports disclosed in designated information disclosure media for specific operational data [1]

Core Insights - The announcement from Enjie Co., Ltd. indicates that the diaphragm industry has experienced an oversupply in the past, leading to low overall capacity utilization rates, although leading companies are performing better [1] - The pace of new capacity additions in the industry has significantly slowed compared to previous years, with particularly fewer new capacities added this year [1] - The release of diaphragm capacity involves a lengthy process of construction, customer validation, and ramp-up, which will greatly benefit the future supply-demand dynamics of the entire industry [1] - Enjie Co., Ltd. maintains a leading capacity utilization rate in the industry and is steadily increasing its market share, supported by a recent uptick in downstream demand [1] - The company is committed to supplying high-quality diaphragm products and services to global customers [1]