Core Viewpoint - Ningbo Changyang Technology Co., Ltd. is facing significant financial challenges due to losses from its subsidiaries involved in new project developments, particularly in lithium-ion battery separators and optical films, which have not yet achieved expected production efficiencies and profitability [1][2][3]. Financial Performance - In 2024, the net profits of the subsidiaries were as follows: Hefei Changyang New Energy Technology Co., Ltd. reported a loss of 123.54 million yuan, Hefei Changyang New Materials Technology Co., Ltd. reported a loss of 23.53 million yuan, and Zhejiang Changyang Technology Co., Ltd. reported a loss of 36.97 million yuan [2][4]. - The financial data for Hefei New Energy shows a significant increase in operating costs, leading to a negative gross profit margin of -47.88% and a total loss of 123.54 million yuan [2][3]. - Hefei New Materials, which has not yet commenced formal production, reported a loss of 23.53 million yuan, primarily due to high operational costs and reduced government subsidies [3][4]. - Zhejiang Changyang's losses of 36.97 million yuan were attributed to increased operating costs and asset impairment losses [4][5]. Project Developments - The company has invested in several new projects, including lithium-ion battery separators and optical films, with total investments of approximately 591.36 million yuan for various production capacities [1][2]. - The lithium-ion battery separator projects are expected to reach production capacities of 560 million square meters and 400 million square meters, with anticipated revenues of 124 million yuan and 108 million yuan, respectively [10][11]. - The optical-grade polyester film project is scheduled to commence production by June 2025, with expected revenues of 194 million yuan [10][11]. Industry Context - The lithium-ion battery market is experiencing robust growth, with global shipments expected to reach 1545.1 GWh in 2024, a year-on-year increase of 28.5% [5][6]. - Despite the growth in demand, the industry is facing intense competition, leading to price wars and reduced profit margins for many companies, including Changyang [6][7]. - The optical film market is also facing challenges due to structural overcapacity and reliance on imports for high-end products, which affects the profitability of domestic producers [8][9]. Competitive Landscape - Competitors in the lithium-ion battery separator market are experiencing similar declines in profit margins, with major players reporting significant reductions in gross margins due to aggressive pricing strategies [6][7]. - The overall market for photovoltaic products, including solar films, is projected to grow, but companies are struggling with profitability due to increased competition and falling prices [9][10].

华安证券股份有限公司 关于宁波长阳科技股份有限公司 2024年年度报告的信息披露监管问询函回复核查意见 上海证券交易所： 根据贵所出具的《关于对宁波长阳科技股份有限公司2024年年度报告的信 息披露监管问询函》（以下简称"问询函"）的有关要求，华安证券股份有限 公司（以下简称"保荐机构"、"华安证券"）作为宁波长阳科技股份有限公 司（以下简称"长阳科技"、"公司"）2022年度向特定对象发行股票并上市 持续督导工作的保荐机构，会同公司及相关中介机构，对监管问询函所提及的 事项进行了逐项落实，现将监管问询函所涉及问题回复如下： 问题1、关于新项目实施进展及效益 根据前期公告，公司近年来主要通过三个全资子公司开展较多新项目建 设，在原有主力产品反射膜基础上，扩产光学基膜，新增隔膜及其他特种功能 膜，应用于液晶显示、动力电池及储能、太阳能光伏等领域。该三家公司2024 年分别亏损-12,353.79万元、-2,353.48万元、-3,697.23万元，严重拖累公司 业绩。新项目主要包括：公司通过全资子公司合肥长阳新能源科技有限公司 （以下简称合肥新能源）分别投资59,136万元、18,660万元、14,500.80 ...

[信会计师事务所(特殊普通合伙) HINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTANTS LLP 立信会计师事务所(特殊普通合伙) 关于宁波长阳科技股份有限公司 2024 年年度报告的信息披露监管问询函的回复 信会师函字[2025]第 ZA258 号 上海证券交易所科创板公司管理部: 根据贵所出具的《关于对宁波长阳科技股份有限公司 2024 年年度报告的信息披露监管 问询函》(以下简称"问询函"）的有关要求，立信会计师事务所（特殊普通合伙）(以下简称 "我们"或"会计师"）作为宁波长阳科技股份有限公司（以下简称"公司"或"长阳科技"）2024 年年度审计报告会计师事务所,对问询函中提到的需要会计师发表意见的问题进行了认真核 查，现将有关问题的核查情况和核查意见说明如下: 问题 1: 关于新项目实施进展及效益 根据前期公告,公司近年来主要通过三个全资子公司开展较多新项目建设,在原有主 力产品反射膜基础上，扩产光学基膜，新增隔膜及其他特种功能膜，应用于液晶显示、动 力电池及储能、太阳能光伏等领域。该三家公司 2024 年分别亏损−12,353.79 万元、 -2,353.48 ...

证券代码：688299 证券简称：长阳科技 公告编号：2025-037 宁波长阳科技股份有限公司 关于2024年年度报告信息披露监管问询函的回复公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 宁波长阳科技股份有限公司（以下简称"公司"、"长阳科技"或"宁波长 阳"）于 2025 年 5 月 22 日收到上海证券交易所下发的《关于宁波长阳科技股份 有限公司 2024 年年度报告的信息披露监管问询函》（上证科创公函【2025】0145 号，以下简称"年报问询函"）。公司就年报问询函关注的相关问题逐项进行了 认真的核查落实，现就年报问询函相关问题回复如下： 问题 1：关于新项目实施进展及效益 根据前期公告，公司近年来主要通过三个全资子公司开展较多新项目建设， 在原有主力产品反射膜基础上，扩产光学基膜，新增隔膜及其他特种功能膜， 应用于液晶显示、动力电池及储能、太阳能光伏等领域。该三家公司 2024 年分 别亏损-12,353.79 万元、-2,353.48 万元、-3,697.23 万元，严重拖累公司业绩。 新项目主要包括 ...

Core Viewpoint - Longyang Technology has received a disciplinary notice from the Shanghai Stock Exchange due to inaccuracies in its earnings forecasts and reports, which have significant implications for investor expectations and company stock price [1][3]. Group 1: Earnings Forecast and Reporting - On January 18, the company announced an earnings forecast for 2024, projecting a net profit attributable to shareholders of between 20.05 million and 23.94 million yuan, with a non-recurring net profit of between 1.08 million and 3.98 million yuan [1]. - On February 27, the company released a preliminary earnings report, estimating a net profit of 20.55 million yuan and a non-recurring net profit of 1.09 million yuan, along with a basic earnings per share of 0.07 yuan and a weighted average return on equity of 0.96% [1]. - On April 23, the company corrected its earnings forecast, now expecting a net loss of 29.44 million yuan and a non-recurring net loss of 48.89 million yuan, with a basic earnings per share of -0.10 yuan and a weighted average return on equity of -1.39% [2]. Group 2: Disciplinary Actions and Responsibilities - The disciplinary notice indicates that the inaccuracies in the earnings forecasts and reports, which shifted from positive to negative figures, were not disclosed in a timely manner, affecting investor expectations [3]. - Key responsible individuals, including the former chairman and other executives, have been criticized for their lack of diligence in ensuring accurate information disclosure [3]. - The Shanghai Stock Exchange has decided to publicly criticize Longyang Technology and the responsible individuals, with the disciplinary actions being reported to the China Securities Regulatory Commission [3].

Core Viewpoint - Changyang Technology (688299.SH) announced a share reduction plan involving both major shareholders and executives due to personal funding needs, with a total of up to 1,920,000 shares to be sold, representing 0.67% of the company's total share capital [1][2]. Group 1: Shareholder and Executive Reduction Plans - Major shareholder Changyang Yonghui plans to reduce its holdings by up to 1,920,000 shares through centralized bidding and block trading within three months after the announcement [1]. - Executives including Vice Chairman Yang Zhonghe and others plan to reduce their holdings, with Yang Zhonghe aiming to sell up to 18,750 shares (0.0065% of total shares), and other executives planning similar reductions [2][3]. Group 2: Shareholding Structure - As of the announcement date, Changyang Yonghui is the second-largest shareholder of Changyang Technology, holding 7,700,583 shares, which is 2.68% of the total share capital [2][4]. - The executives involved in the reduction also hold shares in Changyang Yonghui, which is managed by the company's controlling shareholder, Jin Yadong [4]. Group 3: Financial Performance - In Q1 2025, Changyang Technology reported revenue of 267 million yuan, a decrease of 14.97% year-on-year, while net profit attributable to shareholders was 14.16 million yuan, an increase of 72.02% [4]. - For the year 2024, the company reported revenue of 1.336 billion yuan, a year-on-year increase of 6.62%, but a net loss of 29.44 million yuan compared to a profit of 95.42 million yuan in the previous year [4]. Group 4: Fundraising Activities - Changyang Technology raised a total of 1.019 billion yuan through two fundraising activities, with the first IPO in November 2019 raising approximately 968.5 million yuan [5][7]. - The company also conducted a specific issuance of shares in 2023, raising nearly 50 million yuan after deducting issuance costs [6].

Group 1 - Longyang Technology announced that as of the disclosure date, its shareholder, Ningbo Longyang Yonghui Investment Management Partnership, holds approximately 7.7 million shares, accounting for 2.68% of the total share capital [2] - The shares held by the shareholder were acquired before the company's initial public offering and were released from restrictions on November 7, 2022 [2] - The company received a notice from Longyang Yonghui regarding a share reduction plan, intending to reduce up to 1.92 million shares, not exceeding 0.67% of the total share capital, within three months after the disclosure [2] Group 2 - The revenue composition of Longyang Technology for the year 2024 is projected to be 89.34% from specialty functional films and 10.66% from other businesses [3]

Core Viewpoint - Ningbo Changyang Technology Co., Ltd. announced a share reduction plan involving shareholders and executives, detailing the intentions and specifics of the share reduction [1] Shareholder and Executive Reduction Details - Changyang Yonghui, as the employee stock ownership platform, holds 7.700583 million shares, accounting for 2.68% of the total share capital, which became tradable on November 7, 2022 [2] - Vice Chairman Yang Zhonghe directly holds 75,000 shares (0.0261% of total capital); Director and CFO Li Chen holds 82,500 shares (0.0287%); Vice General Manager Yang Chenghan holds 50,000 shares (0.0174%); Vice General Manager Zhou Yubo holds 79,200 shares (0.0276%) [2] Reduction Plan Details - Changyang Yonghui plans to reduce up to 1.92 million shares (0.67% of total capital) through centralized bidding and block trading within three months after a 15-trading-day period post-announcement, with prices determined by market conditions [3] - Individual executives also plan to reduce their holdings: Yang Zhonghe up to 18,750 shares (0.0065%); Li Chen up to 20,625 shares (0.0072%); Yang Chenghan up to 12,500 shares (0.0043%); Zhou Yubo up to 19,800 shares (0.0069%), with a maximum of 25% of their directly held shares being reduced [3] Commitment and Impact - The planned reductions are consistent with previous commitments regarding shareholding ratios and methods, and will not affect the company's control, governance structure, or ongoing operations [4]

证券代码：688299 证券简称：长阳科技 公告编号：2025-036 减持计划的主要内容 近日，公司收到股东长阳永汇发来的《股份减持计划告知函》，因自身资金 需求，长阳永汇计划通过集中竞价、大宗交易的方式减持，合计减持股份数不超 过 1,920,000 股，即不超过公司总股本的 0.67%，减持期间为自本公告披露之日 起 15 个交易日后的 3 个月内实施。具体减持价格按减持实施时的市场价格确定， 但不低于公司首次公开发行股票的发行价。 1 宁波长阳科技股份有限公司 股东及董事、高管减持股份计划公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律 责任。 重要内容提示： 股东及董监高持有股份的基本情况 截至本公告披露日，宁波长阳科技股份有限公司（以下简称"公司"）股东 宁波长阳永汇投资管理合伙企业（有限合伙）（以下简称"长阳永汇"）系公司员 工持股平台，其合伙人包括公司部分董事、监事及高管，持有公司股份为 7,700,583 股，占公司总股本比例为 2.68%。以上股份为公司首次公开发行股票并 上市前持有的股份，且已 ...

证券代码：688299 证券简称：长阳科技 公告编号：2025-035 宁波长阳科技股份有限公司 关于实施回购股份注销暨股份变动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要提示： 公司于 2025 年 3 月 31 日、2025 年 4 月 16 日召开第四届董事会第二次会议、 第四届监事会第二次会议及 2025 年第三次临时股东大会，审议通过了《关于变 更部分回购股份用途并注销暨减少注册资本的议案》，同意将 2022 年回购方案的 回购股份 1,837,029 股和 2023 年回购方案的回购股份 1,266,993 股合计 3,104,022 股用途进行变更，由"用于员工持股计划或股权激励"变更为"用于 注销并减少注册资本"。公司已于 2025 年 4 月 17 日在上海证券交易所网站 （www.sse.com.cn）和《证券日报》披露了《关于注销部分回购股份并减少注册 资本暨通知债权人的公告》（公告编号：2025-018），自该公告披露之日起 45 日 内，公司未收到任何相关债权人要求公司提前清偿债务 ...