专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 而公司CFO刘志文仍以274.8万元年薪，高居业内次席，其大专学历，相较其他同行也明显偏低。 | 简称 | 行业(申万二级) | CFO | 薪酬(万) | 薪酬变化 | 归母净利(亿) | 增速 | 学历 | | --- | --- | --- | --- | --- | --- | --- | --- | | 宁德时代 | 电池 | 郑舒 | 285.10 | -2.2% | 507.45 | 15.0% | 双本科 | | 贝特瑞 | 电池 | 刘志文 | 274.83 | -45.7% | 9.30 | -43.8% | 大专 | | 格林美 | 电池 | 穆猛刚 | 234.95 | 53.8% | 10.20 | 9.2% | 硕士 | | 天赐材料 | 电池 | 顾斌 | 216.50 | 0.0% | 4.84 | -74.4% | 大专 | | 德瑞锂电 | 电池 | 王中华 | 207.84 | 61.1% | 1.51 | 182.5% | 大专 | | 中伟股份 | 电池 | 朱宗元 | 205 ...

值得注意的是，同为在申万二级电池行业、同为大专学历CFO，贝特瑞财务总监刘志文275万年薪，相 当于天能股份胡敏翔77万年薪的3.5倍。 | 简称 | CFO | 任职日期 | 2024新 | 新郎变 | 年齢 | 出生年 | | --- | --- | --- | --- | --- | --- | --- | | | | | 酬万元 | 化万元 | | મે | | 贝特瑞 | 刘志文 | 2017-01-09至一 | 274.83 | -230.93 46 | | 1979 | | 天赐材料 | 顾戒 | 2010-11-27至一 | 216.50 | 0.03 60 | | 1965 | | 尚太科技 | 壬蓮し | 2020-08-08至一 | 135.06 | 15.81 43 | | 1982 | | 胡南裕能 | 壬洁 | 2020-11-03至一 | 104.52 | -71 55 | | 1970 | | 天能股份 | 胡敏翔 | 2019-02-19至一 | 76.68 | -2.84 44 | | 1981 | | 富临精工 | 后小平 | 2023-01-06至一 | 60.88 | ...

Core Insights - Shenzhen has become a hub for innovative companies like Huawei, BYD, and DJI, excelling in both domestic and international markets through participation in international standard-setting [1] Group 1: International Standards Participation - As of the end of 2024, Shenzhen enterprises have participated in the formulation of 3,379 international standards, covering industries such as photovoltaics, drones, genetic testing, and graphene [1] - Better Ray New Materials Group has maintained a leading position in the lithium-ion battery anode materials sector and is a major supplier to well-known battery manufacturers like CATL [1] - The push for Better Ray to participate in international standard-setting was catalyzed by a critical email questioning Chinese companies' capabilities, which inadvertently reached all conference attendees [2][1] Group 2: Drone Technology Standards - Better Ray's application for an international standard in graphene was approved in 2017, and the standard was implemented in 2020, filling a gap in the field [3] - Meituan's drone delivery service highlights the need for advanced perception and obstacle avoidance capabilities, leading to the identification of gaps in existing international standards [3] - In May 2022, a joint team from Meituan and the China Aviation Industry Corporation led the establishment of an international standard for drone perception and obstacle avoidance systems, which was completed in May 2023 [4] Group 3: Support for Standardization - Shenzhen's market supervision bureau has supported leading enterprises like BYD in participating in standardization organizations, resulting in the approval of global technical regulations for electric vehicle safety [5] - Huawei has actively contributed to global standard organizations, submitting nearly 12,000 standard proposals in 2023 and leading the development of 5G standards [5] - The conducive environment in Shenzhen, characterized by strong policy support, funding, and talent, has fostered a "standard-first" industrial ecosystem [5]

Core Viewpoint - The article highlights the top 12 global anode material producers for the first half of 2025, indicating a competitive landscape in the anode materials market. Group 1: Market Overview - The article lists the top 12 producers of anode materials, which includes companies such as BETTERY, Shanghai Shanshan, and Zhongke Xingcheng, suggesting a concentration of production capabilities among these firms [1]. Group 2: Key Players - BETTERY is identified as the leading producer in the anode materials market for the specified period [1]. - Other notable companies in the top 12 include Shanghai Shanshan, Zhongke Xingcheng, Shangtai Technology, Guangdong Kaijin, and Jiangxi Zicheng, indicating a diverse range of players in the industry [1].

Core Viewpoint - The article highlights the significant advancements in the silicon-carbon anode material sector, emphasizing the construction of large-scale production facilities and the expected market growth driven by the demand for electric vehicles and energy storage solutions [4][5][7]. Group 1: Project Developments - Inner Mongolia Silicon Source New Energy Electronic Materials Technology Co., Ltd. is nearing completion of the world's first 10,000-ton silicon-carbon anode material project, with over 90% of civil engineering completed and equipment installation exceeding 85%. The project is set to begin trial production in Q3 2025 [4]. - The project, with a total investment of nearly 3 billion yuan, aims to produce 20,000 tons of silicon-carbon anode materials annually across three phases, with the first phase expected to generate an annual output of 2,000 tons [4]. - The theoretical specific capacity of silicon-carbon anodes can reach 3,500 mAh/g, significantly higher than traditional graphite materials, which have a capacity of 370-380 mAh/g [5]. Group 2: Industry Growth and Competitors - Multiple key enterprises across the country are accelerating the construction and production of silicon-carbon anode lines, indicating a widespread industrialization trend [5]. - Companies like Yuling New Energy and Tianmu Xiandao are expanding their production capacities, with Yuling's first phase achieving an annual output of 10,000 tons and plans for a second phase to increase capacity to 30,000 tons [5][6]. - Other notable companies include Beiterui, which has received recognition from major clients like CATL and plans to achieve mass supply by 2025, and Shanshan Co., which has established an integrated production capacity of 40,000 tons [6][7]. Group 3: Market Outlook - Market research predicts that the global silicon-carbon anode market will exceed 12 billion yuan by 2025 and surpass 50 billion yuan by 2030, with the domestic market expected to account for over 70% of this growth [7]. - Leading companies are focusing on enhancing raw material self-control ratios, strengthening collaboration with vehicle and battery manufacturers, and developing platform-based product matrices to capture industry leadership [7].

Core Insights - The report highlights the significant drop in revenue for Bettery, which fell by approximately 43% in 2024, leading to the largest revenue decline among listed companies [1][2] - The average annual salary for CFOs in A-share listed companies reached 814,800 yuan, with a total compensation pool of 4.27 billion yuan [1] - Bettery's chairman, He Xueqin, was fined 20 million yuan for insider trading, impacting the company's reputation [1] Industry Overview - The total number of listed companies in the electric equipment sector (Shenwan first-level) is 395, with a combined CFO compensation of 311 million yuan and an average salary of about 791,700 yuan [1] - The median salary for CFOs in this sector is approximately 625,000 yuan [1] Company-Specific Insights - Bettery's CFO, Liu Zhiwen, earned an annual salary of 2.748 million yuan, despite the company's significant revenue decline [2] - Liu Zhiwen holds a college diploma, which is lower than the educational qualifications of many other CFOs in the industry [2] - Other notable CFO salaries in the electric equipment sector include Liu Xuewen from Jiangqi Green Energy at 4.511 million yuan and Zhou Bin from Tongwei Co. at 3.299 million yuan, both of whom experienced substantial revenue declines [2]

Core Viewpoint - The development of the green low-carbon industry in Guangdong is crucial for achieving carbon peak and carbon neutrality goals, and it serves as a new driving force for high-quality development in the province, with significant strategic importance and market potential [2][3][4]. Group 1: Industry Scale and Achievements - The total output value of the new energy industry in Guangdong is projected to reach 1.1 trillion yuan in 2024 [14]. - Guangdong has created 400 national-level green factories and established the country's first 1 million-ton hydrogen-based vertical furnace project [10][9]. - The total area of green buildings in the province has exceeded 1 billion square meters, with over 95% of new buildings being green [11]. Group 2: Renewable Energy Development - Guangdong has developed a complete industrial chain for offshore wind power, with an installed capacity exceeding 12 million kilowatts, ranking first in the country [13]. - The province's nuclear power installed capacity is also the highest in the nation [13]. - The new energy sector includes offshore wind power, new energy storage, photovoltaics, and hydrogen energy [14]. Group 3: Electric Vehicle and Battery Industry - The automotive industry in Guangdong is expected to achieve revenue exceeding 1.28 trillion yuan in 2024 [16]. - The province is nurturing globally competitive companies in electric and intelligent vehicles, including BYD, GAC Group, and Xpeng Motors, as well as battery manufacturers like Yiwei Lithium Energy and Xinwanda [17][19]. Group 4: Energy Storage and Recycling - The revenue of the new energy storage industry in Guangdong is projected to be around 400 billion yuan in 2024, with an installed capacity of 3.5 million kilowatts, a year-on-year increase of 114% [21]. - The province's energy-saving and recycling technology and service industry accounts for about 10% of the national scale, with several companies recognized in the top 50 environmental enterprises in China [22][24]. Group 5: Future Development Strategies - Guangdong aims to leverage the opportunity to build a world-class green low-carbon industrial cluster in the Greater Bay Area, enhancing its development capabilities and promoting a comprehensive green transformation of the economy and society [29][31]. - The province plans to improve the policy framework for green low-carbon industry development and focus on high-growth and strategic industries [32][34]. - There will be an emphasis on technological innovation and demonstration applications in the green low-carbon sector [35][36].

Summary of Key Points Core Viewpoint - As of July 28, the total margin financing and securities lending balance on the Beijing Stock Exchange reached 6.288 billion yuan, reflecting an increase of 80.8644 million yuan from the previous trading day, indicating a growing interest in margin trading [1]. Financing and Margin Data - The margin balance was 6.287 billion yuan, up by 80.7522 million yuan, while the securities lending balance was 42.28 thousand yuan, increasing by 11.22 thousand yuan [1]. - The stocks with the highest margin balances included Jinbo Biological, Airon Software, and Better Energy, with respective balances of 366 million yuan, 169 million yuan, and 167 million yuan [1]. - The average margin balance as a percentage of market capitalization for these stocks was 1.16%, with Shengye Electric, Litong Technology, and Wanyuantong leading at 4.78%, 3.44%, and 3.38% respectively [1]. Sector Performance - In terms of industry statistics, the computer, electronics, and machinery sectors had the highest concentration of stocks with net margin purchases exceeding 1 million yuan, with 10, 9, and 8 stocks respectively [2]. - On July 28, stocks with net margin purchases over 1 million yuan experienced an average decline of 0.82%, while notable gainers included Mingyang Technology, Naconoer, and Knight Dairy, which rose by 12.00%, 6.96%, and 5.12% respectively [2]. Trading Activity - The weighted average turnover rate for stocks with net margin purchases over 1 million yuan was 4.63%, with Tianrun Technology, Wanyuantong, and Mingyang Technology having turnover rates of 34.38%, 24.24%, and 18.45% respectively [2]. - The average daily turnover rate for stocks on the Beijing Stock Exchange was 4.27% [2]. Notable Stocks - Stocks with the largest increases in margin balances on July 28 included Litong Technology (increase of 156.305 million yuan), Mingyang Technology (increase of 75.708 million yuan), and Minshida (increase of 65.656 million yuan) [2][3]. - Other notable stocks with significant margin balances included Better Energy, Knight Dairy, and Naconoer, which also saw substantial net purchases [2][3].

Market Performance - As of July 25, 2025, the North Exchange A-share component stocks totaled 268, with an average market capitalization of 3.184 billion yuan[16] - The North Exchange 50 Index rose by 2.85% to close at 1458.98 points, compared to the previous week's closing[16] - The average daily trading volume for North Exchange A-shares reached 31.082 billion yuan, an increase of 41.81% from the previous week[16] Sector Comparison - The PE ratios for North Exchange A-shares, ChiNext, Shanghai Main Board, Shenzhen Main Board, and Sci-Tech Innovation Board are 55.14, 38.43, 21.81, 23.69, and 35.79 respectively as of July 25, 2025[25] - The North Exchange A-share turnover rate was 7.04%, up by 1.83 percentage points from the previous week, indicating improved liquidity[16] Investment Insights - The report suggests focusing on sectors with strong mid-year report expectations and high thematic interest[25] - The North Exchange continues to expand, with a total of 11 new companies listed in April 2024 and 12 in July 2025, reflecting a trend of increasing average net profit among new listings[16] Risks - Potential policy risks may affect investor enthusiasm and market heat[26] - Liquidity risks exist due to smaller trading volumes compared to other boards, which could negatively impact the market[26] - There is a risk of companies not meeting profit expectations due to external market changes, potentially affecting stock prices[26]

Core Viewpoint - The launch of the Shenzhen Unified Management Platform for Special Funds aims to streamline the application process for enterprises, reduce operational burdens, and enhance the efficiency of fund allocation and management [1][2][8]. Group 1: Platform Features and Benefits - The platform allows enterprises to access all special fund policies through a single account, eliminating the need for multiple registrations and logins [3][4]. - It integrates electronic certificates and automatically populates nearly 30 fields with basic enterprise data, significantly reducing the complexity of the application process [3]. - The platform has seen over 22,000 users making more than 180,000 applications, with a total of 216.7 billion yuan disbursed [4]. Group 2: Efficiency and Management Improvements - The platform enhances the speed of fund disbursement by allowing real-time data transfer to the budget execution system, expediting the benefits for enterprises [3][5]. - It implements a comprehensive management system that includes pre-application, in-process, and post-application oversight to ensure funds are allocated effectively [5][6]. - The platform has triggered nearly 1,000 alerts for potential irregularities, enhancing the integrity of the fund distribution process [6]. Group 3: Tailored Services for Enterprises - The platform provides customized "concierge-style" services, including advance publication of application guidelines and intelligent policy recommendations based on enterprise profiles [7]. - It features a "workbench" for enterprises to manage their information and track application statuses, improving overall efficiency [7]. - The introduction of a "guideline publication plan" has significantly improved the efficiency of information acquisition and preparation for fund applications [7].