证券代码：002812 证券简称：恩捷股份 债券代码：128095 债券简称：恩捷转债 云南恩捷新材料股份有限公司 投资者关系活动记录表 编号：2025-009 | | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 业绩说明会 ☑ | | 投资者关系 | □新闻发布会 □路演活动 | | 活动类别 | | | | □现场参观 | | | □其他 | | 参与单位名 | 通过全景网"投资者关系互动平台"(http://ir.p5wnet)参与公司 2025 年半年度业绩 | | 称及人员姓 | | | 名 | 说明会的广大投资者 | | 时间 | 年 月 日 2025 8 19 | | 地点 | 全景网"投资者关系互动平台"(http://ir.p5wnet) | | 上市公司接 | 董事长 Xiaoming Lee 先生、副董事长兼总经理李晓华先生、副总经理禹雪女士、 | | 待人员姓名 | 董事会秘书白云飞先生、财务总监李湘林先生、独立董事张菁女士 | | | 公司就投资者以下问题进行回复： | | | 1、现阶段公司产能利用率是多少？ | | | 尊敬的投资者，您好！公 ...

Core Viewpoint - The article highlights the rapid advancements and developments in the solid-state battery sector by various listed companies, indicating a strong push towards commercialization and increased energy density in battery technology [2][3][4][5]. Group 1: Company Developments - Penghui Energy has improved the energy density of its solid-state batteries from 280Wh/kg to 320Wh/kg and is on track to complete its pilot production line by September 2025, targeting applications in electric vehicles and consumer electronics [2]. - Guoxuan High-Tech has achieved a 90% yield rate for its solid-state battery pilot line and is designing a 2GWh production line, with energy density reaching 350Wh/kg and a range of 1000 kilometers on a single charge [2]. - Del Technology has established a sample production line in Shanghai and aims to develop a third-generation solid-state battery with an energy density exceeding 400Wh/kg [3]. - Enjie Co. is focusing on high-purity lithium sulfide and solid electrolyte materials, with pilot lines established but no significant revenue generated yet [4]. - Taihe Technology is in the pilot stage for several solid-state battery projects, including lithium sulfide and solid electrolytes [4]. - Daoshih Technology has formed a strategic partnership with Zhuhai Guanyu to collaborate on lithium-ion and solid-state battery materials, enhancing production capabilities [4]. Group 2: Industry Trends and Market Outlook - The solid-state battery industry is expected to see significant advancements, with pilot lines launching in 2025-2026 and small-scale production by 2027, followed by broader applications in high-value sectors by 2030 [5]. - The market for solid-state batteries is projected to grow from approximately 7GWh in 2024 to over 65GWh by 2030, driven by the conclusion of key projects and increasing demand [5]. - The shift towards sulfide-based solid electrolytes is noted as a major trend in material development for solid-state batteries, moving away from earlier diverse approaches [5].

Core Viewpoint - The company Enjie Co., Ltd. is expected to report a net loss of 82.65 million to 107.35 million yuan for the first half of 2025, a significant decline from a profit of approximately 260 million yuan in the same period last year [1]. Financial Performance Analysis - The core business of wet-process lithium battery separator products shows strong resilience and profitability, with a significant year-on-year increase in sales, while the domestic wet-process lithium battery separator business remains profitable [2]. - The gross margin of the main product, lithium battery separators, has decreased compared to the same period last year; other products such as aluminum-plastic film and dry-process lithium battery separators are currently in a loss state [2]. - The company is accelerating the construction of overseas production bases for wet-process lithium separators, which is putting short-term pressure on performance due to operational costs [2]. - The company plans to make impairment provisions for certain inventories based on prudence, which will reduce current profits, with the final amount still under determination [2]. Key Financial Data - Expected net profit attributable to shareholders: loss of 82.65 million to 107.35 million yuan compared to a profit of 291.02 million yuan in the previous year [3]. - Expected net profit after deducting non-recurring gains and losses: loss of 83.20 million to 107.90 million yuan compared to a profit of 259.51 million yuan in the previous year [3]. - Basic earnings per share: loss of 0.09 to 0.11 yuan per share compared to a profit of 0.30 yuan per share in the previous year [3]. Strategic Developments - The company is making significant moves in the solid-state battery sector, with its subsidiary Jiangsu Sanhe Battery Material Technology Co., Ltd. capable of mass production of semi-solid battery separators and actively exploring the market [3]. - Research and development efforts are underway for solid electrolyte support membranes, which have higher porosity and larger pore sizes to meet the filling requirements of solid electrolytes, ensuring good mechanical properties for solid-state batteries [3]. - The subsidiary Hunan Enjie Frontier New Materials Technology Co., Ltd. focuses on the research and layout of high-purity lithium sulfide, sulfide solid electrolytes, and sulfide solid electrolyte membranes, with a pilot line for high-purity lithium sulfide already in mass production [4].

Battery - Foton Motor has begun mass application of semi-solid batteries in its self-developed 24V starting lithium batteries, which are installed in its electric light trucks [2] - Beijing Chunzhi New Energy Technology Co., Ltd. launched a pilot project for electric bicycle battery swapping using all-solid-state batteries, marking the transition of its products from laboratory to commercial application [6] Materials - Zhongke Chuncui Technology successfully completed a Pre-A round of financing, which will be used to optimize new extraction agents for strategic metals and establish production projects for battery-grade lithium chloride and lithium dihydrogen phosphate [8] - Enjie Co., Ltd. announced that its subsidiary has begun mass shipments of high-purity lithium sulfide products, while another subsidiary is advancing the construction of a pilot project for solid-state electrolyte with a capacity of thousands of tons [10] - Hainan Mining signed a lithium spodumene off-take agreement with its subsidiary, ensuring that all spodumene produced from the Bukuni lithium mine project will be sold to Hainan Mining starting January 1, 2026 [11] - Yunnan Zhongke Xingcheng Graphite Co., Ltd. is set to construct a project with an annual production capacity of 100,000 tons of lithium battery anode materials, with a total investment of 2.5 billion yuan [13]

Group 1: Core Investment Opportunities - The technology sector is expected to experience significant growth in the second half of the year, particularly in the military and solid-state battery industries, which are seen as key investment hotspots [1] - The military sector is a national priority, with increased focus on asset securitization and strategic upgrades, especially in light of the upcoming 80th anniversary of the Anti-Japanese War parade, which will showcase advanced military equipment [3] - The solid-state battery industry is entering a golden development period, driven by its advantages such as high energy density and safety, making it a core power source for electric vehicles and energy storage [4] Group 2: Key Companies in Military and Solid-State Battery Sectors - Zhongke Electric has made significant technological breakthroughs in solid-state batteries and has military applications, showcasing strong market competitiveness [5] - Greeenmei has achieved major advancements in solid-state battery materials and has established long-term supply agreements with leading companies, while also expanding into military applications [6] - Youyan New Materials is the only domestic producer of high-purity lithium sulfide and has developed technologies that enhance battery life, with military certifications for its products [6] - A certain holding subsidiary is noted for its comprehensive technology layout in solid-state battery materials and has a strong market position, indicating potential for future growth in both military and civilian sectors [6]

Group 1 - The solid-state battery sector is experiencing significant advancements with three major projects recently announced [2][3][4] - The Qingtao Energy project in Chengdu aims for an annual production capacity of 15GWh, with a total investment of 45 billion yuan [2] - The Suining New Quality Transportation Intelligent Manufacturing Industrial Park project in Sichuan has a total investment of 52 billion yuan and will enhance the local lithium battery industry chain [3] Group 2 - The Shandong Dayao Special Materials project has been approved for the production of high-purity lithium sulfide solid-state battery materials, with a total investment of approximately 220 million yuan [4] - The project will be constructed in two phases, with the first phase expected to start in May 2025 and achieve an annual production capacity of 13,000 tons [4] - The second phase will add 63 sets of equipment, also targeting an annual production capacity of 13,000 tons, leading to a total capacity of 26,000 tons [4] Group 3 - The 2025 Solid-State Battery Conference and Silicon-Based Anode Innovation Conference is scheduled for July 3-5 in Ningbo, Zhejiang [7][8] - The conference will cover topics such as the industrialization and application status of solid-state batteries, advancements in solid-state sodium batteries, and key material development [7]

Group 1: Company Overview and Strategic Initiatives - The company established a subsidiary in 2021 for solid-state battery materials, focusing on sulfide routes with three products developed: high-purity lithium sulfide, sulfide solid electrolyte, and sulfide electrolyte membrane [2] - The pilot production line for sulfide solid electrolyte materials in Yuxi, Yunnan, is designed for an annual capacity of approximately 1,000 tons, with phased construction [2] - The market for solid-state batteries is currently limited due to high costs, with liquid lithium batteries and semi-solid batteries dominating, although niche applications in military, aerospace, and deep-sea sectors are anticipated [2] Group 2: Production and Supply Agreements - In November 2021, the company formed a joint venture for semi-solid battery separator production, with two production lines currently operational [3] - A procurement framework agreement was signed in January 2025 with Beijing Weilan, committing to supply 80% of its material needs for semi-solid and solid-state battery electrolytes from the company [3] - From 2025 to 2030, the expected total orders for semi-solid and solid-state battery electrolyte separators are projected to exceed 300 million square meters and 100 tons, respectively [3] Group 3: Product Development and Performance - The company has achieved a purity of 99.9% for its lithium sulfide products, with production capacity reaching the hundred-ton level [4] - Recent advancements in solid electrolyte technology have reduced particle size to 300 nm while maintaining an ionic conductivity of over 6 mS/cm, which is considered high in the industry [5] - Smaller particle sizes enhance battery performance by reducing interfacial resistance and increasing energy density, while also minimizing lithium dendrite formation [6] Group 4: Manufacturing Techniques and Quality Control - The solid electrolyte membrane is produced by mixing sulfide solid electrolyte, solvent, and binder, then applying it to a PET film using a roller pressing method, achieving a thickness of 30 µm and ionic conductivity above 3 mS/cm [7] - The optimal porosity for solid electrolyte membranes is below 5% to effectively prevent lithium dendrite formation [8] - The company employs solid-phase synthesis for electrolyte preparation, which is safer and environmentally friendly, resulting in higher conductivity compared to liquid and gas-phase methods [9]

Company Overview - Fujian Zhongwei Semiconductor Materials Co., Ltd. has secured 5 million yuan in angel round financing from Xiamen High-tech Investment and plans to raise several tens of millions in Series A financing next year [1] - The company, established in 2021, focuses on semiconductor-grade ultra-pure metals, high-purity compounds, and solid-state battery electrolyte materials, integrating R&D, trial production, manufacturing, and sales [1][2] - Zhongwei Semiconductor's products are primarily solid-state battery materials and semiconductor-grade ultra-pure metal materials, applicable in industries such as new energy vehicles, aerospace, high-end medical testing, and infrared chip materials [1] Market Potential - By 2025, China's annual production of new energy vehicles is expected to exceed 10 million units, with significant future demand anticipated [1] - The Chinese government aims for 45% of new vehicles to be new energy vehicles by 2027 [1] - Solid-state batteries are projected to be the core technology for the next generation of batteries, with predictions of mass production by 2030, offering double the range and a 25% cost reduction compared to traditional batteries [1] Production Capacity - Currently, Zhongwei Semiconductor has achieved a production capacity of 10 tons of high-purity lithium sulfide, sufficient for 400,000 vehicles, with future production expected to reach 100 tons [1] Competitive Advantage - The company has established itself as a major supplier in the industry, with over 30 cooperative clients, including leading enterprises [2] - Zhongwei Semiconductor's ultra-pure semiconductor materials are also applicable in high-potential sectors such as infrared chips, solar power generation, and high-end medical devices [3] - The company possesses a technical team with over 20 years of experience in ultra-pure metal and compound purification processes, holding 4 invention patents and 14 utility model patents [3] Industry Trends - The trend of domestic substitution in the semiconductor industry is expected to continue, as the market is currently dominated by international firms [3] - The integration of military and civilian applications is another significant trend, with military infrared detection chip materials being adapted for medical devices, although high costs remain a barrier [3] Future Development - Zhongwei Semiconductor plans to introduce foreign technical teams for further development and aims to expand into international markets [4] - The investment from Xiamen High-tech Investment is expected to accelerate the scale application of existing products and the industrialization of strategic products under development [5][6]

◆ 电池 ◆ 蔚蓝锂芯一季度净利润同比增101% 01 近蔚蓝锂芯(002245.SZ)公告称，2025年第一季度营业收入为17.28亿元，同比增长20.90%； 归属于上市公司股东的净利润为1.42亿元，同比增长100.56%。 上海市与丰田汽车公司签署战略合作协议 02 4月22日，上海市与丰田汽车公司签署合作协议。协议的签署标志着由丰田汽车独资设立的雷克萨 斯纯电动汽车及电池的研发生产公司在上海市金山区正式落地。 ◆ 材料 ◆ 6000吨高纯硫化锂项目落地山东 01 日前，潍坊市生态环境局发布《2025年4月份建设项目环境影响评价文件受理公示名单 （三）》。公示的项目包括了年产26000吨高性能硫化锌、6000吨高纯硫化锂固态电池储能材料 项目（年产26000吨高性能硫化锌）等。项目分为两期，一期、二期建设期各24个月。一期计划 于2025年5月份开工建设，预计2027年4月工程竣工；二期计划于2027年5月份开工建设，预计 2029年4月工程竣工。 ◆ 设备 ◆ 01 逸飞激光子公司签1.54亿元大单 逸飞激光公告称，公司控股子公司无锡新聚力科技有限公司与国内某锂电头部企业签订了 《购销合同》，总金额 ...

Battery - Recently, Weilan Lithium (002245.SZ) announced that its revenue for Q1 2025 reached 1.728 billion yuan, representing a year-on-year increase of 20.90%, while the net profit attributable to shareholders was 142 million yuan, showing a remarkable growth of 100.56% [2] - On April 22, Shanghai signed a strategic cooperation agreement with Toyota Motor Corporation, marking the establishment of a research and production company for Lexus electric vehicles and batteries in Jinshan District, Shanghai [3] Materials - A project for the production of 6,000 tons of high-purity lithium sulfide has been launched in Shandong. The project includes the production of 26,000 tons of high-performance zinc sulfide and is planned to be completed in two phases, with the first phase expected to start construction in May 2025 and be completed by April 2027 [5] Equipment - Yifei Laser announced that its subsidiary, Wuxi New聚力 Technology Co., Ltd., signed a purchase and sales contract worth 154 million yuan (including tax) with a leading domestic lithium battery company, accounting for 22.06% of the company's audited revenue for 2023 [7] Overseas - A new nickel tax regulation signed by the Indonesian president will take effect on April 26, adjusting the royalties for nickel ore, nickel matte, nickel pig iron, and nickel iron products based on the HMA benchmark price. The tax rates for nickel ore will increase from a fixed 10% to 14%-19%, nickel matte from 2% to 3.5%-5.5%, nickel pig iron from a fixed 2% to 4%-6%, and nickel iron from a fixed 5% to 5%-7% [10] - On April 21, Idemitsu Kosan announced the completion of its solid-state electrolyte factory expansion, which increased the sample production capacity from several tons per year to a scale of over ten tons [10]