Core Viewpoint - The announcement details the share pledge and unpledge activities of Liang Tongcan, the largest shareholder of Keda Manufacturing Co., Ltd., indicating a significant portion of his shares are pledged while maintaining a stable ownership structure [2][6]. Shareholding and Pledge Summary - Liang Tongcan holds 374,456,779 shares, representing 19.52% of the total share capital, making him the largest shareholder. After recent transactions, he has pledged a total of 162,900,000 shares, which is 43.50% of his holdings and 8.49% of the total share capital [2]. - As of December 18, 2025, Liang Tongcan and his concerted party, Guangdong Hongyu Group, hold 438,797,931 shares, accounting for 22.88% of the total share capital, with a cumulative pledge of 227,241,152 shares, which is 51.79% of their holdings and 11.85% of the total share capital [2][4]. Pledge Details - The recent pledge activities include the unpledging of 15,000,000 shares and an additional pledge of 1,300,000 shares. The specific details of these transactions are documented in previous announcements [2][6]. - The pledged shares are not used as collateral for major asset restructuring or performance compensation [3]. Financial Health and Risk Management - Liang Tongcan and related financing entities have a good credit status and repayment capability, with funds sourced from operational income and self-raised funds from Hongyu Group and its subsidiaries. The risks associated with the pledges are considered manageable [6]. - In case of potential margin calls or forced liquidation, Liang Tongcan plans to take measures such as additional pledges or early repayments [6]. Impact on Company Operations - The share pledges will not affect the company's main business, financing costs, or operational sustainability. Liang Tongcan has nominated two director candidates for the board, and there are ongoing business transactions between the company and Hongyu Group, including equipment sales and graphite processing services [6]. - There are no conflicts of interest or related party transactions that could harm the company's interests, and the pledges will not lead to a change in control of the company [6]. Monitoring and Disclosure - The company will closely monitor the developments regarding the share pledges and will disclose relevant information as required by regulations [7].

Group 1 - Keda Manufacturing (SH 600499) announced on December 19 that after partial share pledge解除 and re-pledge, Mr. Liang Tongcan has pledged approximately 163 million shares, accounting for 43.5% of his holdings and 8.49% of the company's total shares [1] - As of December 18, 2025, Mr. Liang Tongcan and his concerted party, Guangdong Hongyu Group Co., Ltd., hold approximately 439 million shares, representing 22.88% of the company's total shares, with a total of 227 million shares pledged, accounting for 51.79% of their holdings and 11.85% of the company's total shares [1] - For the year 2024, Keda Manufacturing's revenue composition is as follows: machinery equipment industry 53.32%, overseas ceramics industry 37.42%, lithium battery materials industry 6.99%, other equipment 2.19%, and other businesses 0.08% [1] - As of the report date, Keda Manufacturing's market capitalization is 25.8 billion yuan [1]

证券代码：600499 证券简称：科达制造 公告编号：2025-062 科达制造股份有限公司 关于第一大股东股份质押情况变更的公告 截至 2025 年 12 月 18 日，梁桐灿先生及其一致行动人广东宏宇集团有限 公司（以下简称"宏宇集团"）持有公司股份 438,797,931 股，占公司总股本的比 例为 22.88%，累计质押股份 227,241,152 股，占其所持公司股份数的 51.79%，占 公司总股本的 11.85%。 公司近日收到第一大股东梁桐灿先生的通知，获悉其将所持有公司的部分股 份办理了解除质押登记及新增质押登记，现将有关情况公告如下： 一、本次股份解除质押情况 2021 年 7 月 26 日，梁桐灿先生将其持有的科达制造 15,000,000 股非公开发 行限售股办理了质押，并于 2024 年 11 月 6 日补充质押 1,300,000 股无限售流通 股，具体内容详见公司于 2021 年 7 月 28 日、2024 年 11 月 12 日在上海证券交易 所网站（www.sse.com.cn）披露的《关于第一大股东股份质押的公告》《关于第 一大股东股份质押延期及补充质押的公告》。近日，上述 ...

证券日报网讯12月18日，科达制造（600499）在互动平台回答投资者提问时表示，公司前期勘测区域未 发现具备商业开采价值的锂矿资源，相关内容已于2023年年报中提及。 ...

格隆汇12月18日丨科达制造(600499.SH)在投资者互动平台表示，公司前期勘测区域未发现具备商业开 采价值的锂矿资源。 ...

为进一步凝聚战略共识、提升经营效能，助力公司战略目标高效落地，科达制造股份有限公司于2025年12月5日在安徽生产基地成功组织《赋能式经营体 系》专题培训。来自安徽科达机电、安徽科达洁能、科达液压等子公司的中高层管理人员齐聚一堂，共同学习先进经营理念，探讨业务高质量增长的新路 径。 培训以"赋能式经营体系"为核心议题，特别邀请丹研会联合创始人及首席专家韩烨担任讲师。韩烨老师曾长期任职丹纳赫集团从事管理工作，深耕战略规 划与部署、经营管理体系搭建、研发与供应链管理、投资并购后业务体系导入与整合等领域，成功助力数十家小巨人、专精特新企业导入企业经营系统， 实现运营效率显著跃升。 在培训过程中，韩烨老师引导学员深入剖析丹纳赫成功模式的底层逻辑，系统掌握赋能式经营体系的全景框架、实用工具及落地方法论。通过案例复盘、 小组研讨等互动形式，管理层从经营思维升级与业务增长突破维度全面审视当前业务现状，围绕研产供销全链条开展深度研讨，着力打通业务环节中的关 键堵点与协同难点，为实现业务高效协同与高质量增长筑牢基础。 参与培训的学员表示，本次培训内容兼具系统性与实操性，既深化了对先进经营体系的认知，更启发了对自身业务的战略性思 ...

Core Viewpoint - Keda Manufacturing's stock has shown significant volatility, with a year-to-date increase of 73.55% and a recent decline in trading performance, indicating potential market fluctuations and investor sentiment shifts [1]. Group 1: Stock Performance - As of December 18, Keda Manufacturing's stock price was 13.20 CNY per share, with a market capitalization of 25.316 billion CNY [1]. - The stock experienced a net outflow of 8.978 million CNY in principal funds, with large orders showing a buy of 13.4792 million CNY and a sell of 27.4574 million CNY [1]. - Over the past 60 days, the stock has increased by 17.02%, while it has decreased by 3.86% in the last 20 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Keda Manufacturing reported a revenue of 12.605 billion CNY, reflecting a year-on-year growth of 47.19% [2]. - The net profit attributable to shareholders for the same period was 1.149 billion CNY, marking a year-on-year increase of 63.49% [2]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Keda Manufacturing was 56,400, a decrease of 5.51% from the previous period [2]. - The average number of circulating shares per shareholder increased by 5.83% to 34,018 shares [2]. - Keda Manufacturing has distributed a total of 3.864 billion CNY in dividends since its A-share listing, with 2.299 billion CNY distributed in the last three years [3].

Group 1 - The report highlights that the building materials industry has shown a strong performance since 2025, particularly in fiberglass, cement, and refractory materials, benefiting from significant price increases and improved supply-demand dynamics [1][12][14] - The consensus on "anti-involution" among companies has led to supply reductions or maintenance, while structural demand growth is observed in specific segments such as specialty electronic fabrics in fiberglass and overseas market expansion in cement [1][12] - The report anticipates that the building materials industry will continue to present structural opportunities in 2026, with specific focus on segments like float glass, tiles, pipes, and sanitary ware, which are still in the process of bottoming out [1][12] Group 2 - The report indicates that the cement industry is expected to see a profit recovery in 2025, with the profit turning point occurring before revenue, driven by capacity management and a decrease in coal prices [5][6][12] - The overseas market for cement is highlighted as a key growth area, with significant projects expected to contribute to earnings in 2026, such as Huaxin Cement's project in Malawi and West Cement's project in Uganda [5][6][12] - The fiberglass sector is projected to experience significant profit recovery, with multiple rounds of price increases and expanding demand from downstream applications, particularly in wind energy and electric vehicles [5][6][12] Group 3 - The report notes that the float glass sector continues to face challenges, with high inventory levels and weak demand leading to price pressures, while the industry is expected to undergo a reshuffling due to cost differentiation [6][12][25] - The report emphasizes the importance of focusing on leading companies in the building materials sector that possess strong brand competitiveness, scale advantages, and well-established distribution channels to capture dual benefits of market share growth and profit improvement [6][12][25] - Investment recommendations include focusing on leading companies in various segments such as waterproof materials, coatings, pipes, and tiles, as well as cement companies with strong cash flow and dividend commitments [6][12][25]

Industry Overview - Graphite is a crucial anode material in lithium-ion batteries, characterized by high-temperature resistance, corrosion resistance, electrical conductivity, and thermal conductivity [1] - Graphite anode materials are categorized into natural and synthetic types, each with distinct performance, cost, and application scenarios [1][2] Production and Supply Chain - The upstream supply chain includes raw material suppliers like natural graphite mines and carbon materials for synthetic graphite, while the midstream consists of manufacturers of graphite anode materials, and the downstream includes various battery producers [5][8] - China's natural graphite production reached 91 million tons in 2023, with a projected increase to approximately 95 million tons in 2024 [15] Market Trends - The market share of synthetic graphite anode materials has been increasing, with over 90% of the total anode material shipments being synthetic by mid-2025 [25] - The total output of graphite anode materials in China is expected to exceed 200 million tons by 2024, with a growth rate of 26% [24] Competitive Landscape - Leading companies in the graphite anode materials sector include BETTERI, Sanyuan, and others, with BETTERI's revenue from graphite-related business exceeding 10 billion yuan [29] - The industry is concentrated in regions like Guangdong, Shanghai, and Zhejiang, with many representative companies located in Guangdong [30] Future Outlook - The demand for graphite anode materials is anticipated to surge, particularly driven by the growth in electric vehicle batteries and energy storage systems, with projections indicating that shipments could exceed 5 million tons by 2030 [36][37] - The industry is expected to see further innovation and consolidation, with leading firms investing in high-end synthetic graphite and other advanced materials [34]

证券日报网12月5日讯科达制造（600499）在12月5日回答调研者提问时表示，在产能设施整体规划方 面，蓝科锂业目前暂无产能拓展计划；但其在回收率等关键指标上仍有提升潜力，后续将重点围绕产品 质量精进与生产效率优化推进相关工作。 ...