Core Viewpoint - The article discusses the recent developments and strategic initiatives of Funeng Technology in the solid-state battery sector, highlighting its plans for production and collaboration with various partners to enhance its technological capabilities and market presence [2][3][4]. Group 1: Project Developments - Funeng Technology announced on November 18 that it will accelerate the research and industrialization of solid-state batteries by adding its wholly-owned subsidiary, Guangzhou Funeng Technology, as a project implementation entity for the "high energy density, high safety solid-state battery development" project. This change does not affect the total investment amount or the project's business direction [2]. - The company plans to achieve mass production of its third-generation semi-solid batteries by 2026, with solid-state battery production capacity expanding to GWh levels by 2026 and small-scale production expected in 2027, aiming for large-scale production by 2030 [2][3]. Group 2: Technological Advancements - Funeng Technology has completed the first generation of sulfide solid-state battery samples and developed the second generation, which features a lithium-rich manganese-based/high-nickel ternary positive electrode and lithium metal negative electrode, achieving an energy density of 500 Wh/kg. The company aims to establish a 0.2 GWh sulfide solid-state battery pilot line by the end of this year [3]. - The semi-solid battery production capacity is planned to expand from 55 GWh in 2023 to 100 GWh in 2024, indicating significant growth in production capabilities [2]. Group 3: Collaborations and Applications - Funeng Technology is collaborating with Jiangling Motors to develop a super soft-pack power battery solution, which will enhance Jiangling's new energy electric platform and support the creation of new energy vehicles [3]. - The company has also supplied its second-generation semi-solid eVTOL battery to Shanghai Times Technology for the E20 model and is set to provide next-generation prototype high-voltage power batteries to Xiaopeng Huitian [4].

证券日报网讯 11月18日晚间，孚能科技发布公告称，为加速公司全固态电池研发及产业化进展，加快 全固态电池中试线建设进度，公司拟增加2021年度向特定对象发行A股股票中科技储备资金"高比能 量、高安全性固态电池开发"项目的实施主体，以加快项目推进。本次增加募投项目实施主体为广州孚 能科技有限公司（公司全资子公司，简称"广州孚能科技"）。"高比能量、高安全性固态电池开发"项目 实施主体由公司，变更为公司和广州孚能科技。本次增加部分募投项目实施主体已经公司第三届董事会 第五次会议审议通过。为确保募集资金使用安全，公司董事会授权董事长、总经理或其指定人员全权根 据募投项目实施需要与进度办理本次新增的募投项目实施主体开立募集资金存放专用账户，并与公司、 存放募集资金的商业银行、保荐机构签署募集资金专户存储四方监管协议等有关的事宜。 （编辑 任世碧） ...

证券代码：688567 证券简称：孚能科技 公告编号：2025-058 孚能科技（赣州）股份有限公司 关于增加部分募投项目实施主体及 开立募集资金专户的公告 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。 重要内容提示： 为加速孚能科技（赣州）股份有限公司（以下简称"公司"）全固态电池研 发及产业化进展，加快全固态电池中试线建设进度，公司拟增加 2021 年度向特 定对象发行 A 股股票中科技储备资金"高比能量、高安全性固态电池开发"项 目的实施主体，以加快项目推进。 本次增加募投项目实施主体为广州孚能科技有限公司（公司全资子公司，以 下简称"广州孚能科技"）。"高比能量、高安全性固态电池开发"项目实施主 体由公司，变更为公司和广州孚能科技。 本次增加部分募投项目实施主体已经公司第三届董事会第五次会议审议通 过，公司保荐机构东吴证券股份有限公司（以下简称"保荐机构"）对本事项出 具了明确同意的核查意见，根据《上海证券交易所科创板股票上市规则》等相关 规定无需提交公司股东大会审议。 一、募集资金的基本情况 经中国证券监督管理 ...

增加部分募投项目实施主体及开立募集资金专户 的核查意见 东吴证券股份有限公司（以下简称"东吴证券"、"保荐机构"）作为孚能科技（赣 州）股份有限公司（以下简称"公司"、"孚能科技"或"发行人"）2021年向特定对象发 行A股股票的保荐机构，根据《上市公司募集资金监管规则》《上海证券交易所科创 板股票上市规则》《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运 作》等有关法律法规和规范性文件的要求，对公司增加部分募投项目实施主体及开立 募集资金专户的事项进行了核查，核查情况及核查意见如下： 一、募集资金基本情况 经中国证券监督管理委员会出具的《关于同意孚能科技（赣州）股份有限公司向 特定对象发行股票注册的批复》（证监许可[2022]1472号）同意，公司向特定对象发 行人民币普通股（A股）140,000,000股，发行价格为每股23.70元。募集资金总额 3,318,000,000.00元，扣除发行费用后，募集资金净额为3,256,480,253.05元。上述资金 已全部到位，2022年11月3日大华会计师事务所（特殊普通合伙）出具了《孚能科技 （赣州）股份有限公司发行人民币普通股（A股）14,00 ...

Core Points - The battery sector experienced a decline of 3.32% on the trading day, with Huasheng Lithium leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - Xianhui Technology (688155) closed at 64.99, up 6.56% with a trading volume of 87,100 shares and a transaction value of 567 million [1] - Copper Crown Copper Foil (301217) closed at 35.21, up 4.42% with a trading volume of 652,900 shares and a transaction value of 2.299 billion [1] - Weike Technology (600152) closed at 8.47, up 3.93% with a trading volume of 1,288,200 shares and a transaction value of 1.12 billion [1] - ST Hezhong (300477) closed at 4.13, up 3.77% with a trading volume of 2,588,000 shares and a transaction value of 1.092 billion [1] - Huazi Technology (300490) closed at 13.18, up 3.13% with a trading volume of 884,600 shares and a transaction value of 1.199 billion [1] - Funeng Technology (688567) closed at 18.37, up 2.97% with a trading volume of 366,200 shares and a transaction value of 670 million [1] - Other notable stocks include DeFu Technology (301511) and Wanli Co., Ltd. (600847) with respective closing prices of 32.31 and 13.33, showing minor increases [1] Capital Flow - The battery sector saw a net outflow of 14.868 billion from main funds, while retail investors contributed a net inflow of 10.766 billion [3] - Speculative funds recorded a net inflow of 4.102 billion into the sector [3]

Core Viewpoint - Company is actively expanding its energy storage business, leveraging innovative technologies to enhance product offerings and address industry challenges [2] Product Development - Company has developed ultra-large capacity energy storage cells using proprietary stacking technology and innovative metal soft-pack structure, providing cost-effective and modular energy storage solutions [2] - The new products address the issue of low cycle counts associated with prismatic cells while improving the calendar life of soft-pack cells [2] - The application of SPS technology extends long cycle life and excellent economic performance to various energy storage scenarios, including grid-side storage, commercial and industrial storage, and residential storage [2] - The company has established a comprehensive product matrix that covers both traditional soft-pack and metal soft-pack technologies [2]

Core Insights - The intrinsic safety and all-scenario application of power batteries are becoming focal points in the global new energy industry, especially in emerging fields like eVTOL and humanoid robots, where battery safety has evolved from a basic requirement to a decisive factor for industry development [2]. Industry Events - The 2025 Gaogong Lithium Battery Annual Conference and 15th Anniversary Celebration will be held from November 18 to 20 at the JW Marriott Hotel in Qianhai, Shenzhen [3]. - Dr. Jiang Weiran, Vice President of R&D and Overseas Business at Funeng Technology, has confirmed attendance and will share insights on soft-pack battery technology at the conference [4]. Company Developments - Funeng Technology, a leader in soft-pack batteries, has developed battery solutions covering high-end passenger vehicles, eVTOL, and robotics, leveraging the unique advantages of soft-pack batteries [6]. - In the low-altitude economy sector, Funeng has mass-produced a 285Wh/kg eVTOL battery that has undergone over 10,000 flight cycle tests and has received FAA aviation safety certification. The battery has demonstrated safety in 100% SOC puncture tests, showing no smoke, fire, or explosion [6]. - Funeng Technology is pursuing a dual development strategy for solid-state battery technology, focusing on both all-solid and semi-solid state batteries [7]. - The company has reported progress in developing all-solid-state batteries with an energy density of 400-500Wh/kg, with plans to deliver small batches of 60Ah sulfide all-solid-state batteries to strategic partners by the end of 2025. Funeng is one of the early domestic companies to initiate research in the oxide/polymer system, adhering to a high-nickel ternary positive electrode route and enhancing energy density through negative electrode mixing technology [8]. Conference Highlights - Attendees can look forward to Dr. Jiang Weiran's presentation at the Gaogong Lithium Battery Annual Conference, which will explore future paths for innovation in power battery technology. The event will also feature a 15th Anniversary Celebration, the Gaogong Golden Ball Award ceremony, the release of a blue paper, and special sessions focused on core industry topics, providing a platform for in-depth communication and collaboration among participants [9].

Investment Rating - The report assigns a "Buy" rating to several companies in the battery industry, including Ningde Times, Yiwei Lithium Energy, Guoxuan High-Tech, and others, with target prices indicating potential upside [1][10]. Core Insights - The report highlights a month-on-month increase in lithium battery production in November, indicating a positive trend in supply and demand dynamics within the industry [2]. - In October, the retail sales of new energy vehicles in China reached 1.28 million units, reflecting a year-on-year increase of 7.3% [2]. - The report emphasizes the robust growth in battery installation, with a total of 84.1 GWh installed in October, marking a year-on-year increase of 42.1% [2]. - The report notes that the prices of upstream lithium battery materials have risen recently, with lithium hexafluorophosphate exceeding 120,000 RMB per ton and battery-grade lithium carbonate surpassing 80,000 RMB per ton [2]. - The report suggests that the upcoming adjustments to the new energy vehicle purchase tax exemption policy in 2026 may stimulate consumer purchases before the end of 2025, maintaining high demand for lithium batteries [2]. Summary by Sections Company Ratings - Ningde Times (300750 CH): Buy, Target Price: 458.75 RMB, Current Price: 415.60 RMB [1]. - Yiwei Lithium Energy (300014 CH): Buy, Target Price: 94.74 RMB, Current Price: 87.37 RMB [1]. - Guoxuan High-Tech (002074 CH): Buy, Target Price: 54.84 RMB, Current Price: 43.40 RMB [1]. - Zhongxin Innovation (3931 HK): Buy, Target Price: 24.77 HKD, Current Price: 35.20 HKD [1]. - Ruipu Lanjun (666 HK): Buy, Target Price: 15.46 HKD, Current Price: 16.48 HKD [1]. Market Performance - The report indicates that the battery industry has shown a significant performance improvement compared to the Hang Seng Index over the past year [1]. - The report provides a detailed analysis of the battery installation volume and export performance, with exports reaching 28.2 GWh in October, a year-on-year increase of 33.5% [2][7]. Production and Demand Trends - The report notes that the production of lithium batteries is expected to continue increasing, with a forecasted production of 138.6 GWh in November, a month-on-month increase of 1.5% [2]. - The report highlights the strong performance of leading lithium battery companies, with Ningde Times reporting a revenue of 104.2 billion RMB in Q3, a year-on-year increase of 12.9% [2].

Core Viewpoint - The company, Funeng Technology (688567.SH), has disclosed a share reduction by its shareholder, Shanghang Xingyuan, which has implications for the company's stock performance and investor sentiment [1] Group 1: Share Reduction Details - Shanghang Xingyuan has reduced its holdings by 3.686 million shares, representing 0.3016% of the company's total share capital [1] - The total amount from the share reduction is approximately 64.4646 million yuan [1] - As of the announcement date, Shanghang Xingyuan holds 20.551 million shares, which is 1.6816% of the company's total share capital [1] Group 2: Timeline of Share Reduction - The share reduction occurred between August 13, 2025, and November 12, 2025 [1] - The reduction plan has reached its designated time frame as of the announcement date [1]

Group 1 - The core point of the news is that Funeng Technology has completed a share reduction plan, with a total of approximately 3.69 million shares sold, accounting for 0.3016% of the company's total share capital, and the total amount raised from this reduction is about 64.46 million yuan [1] - Funeng Technology's revenue composition for the year 2024 is reported, with power battery systems accounting for 97.08% and other businesses making up 2.92% of the total revenue [1] - As of the latest report, Funeng Technology's market capitalization stands at 22.2 billion yuan [2]