证券代码：002812 股票简称：恩捷股份 公告编号：2025-207 云南恩捷新材料股份有限公司 关于拟变更会计师事务所的公告 4、本次拟变更会计师事务所符合财政部、国务院国资委、证监会印发的《国 有企业、上市公司选聘会计师事务所管理办法》（财会〔2023〕4 号）的规定。 一、拟变更会计师事务所的基本情况 （一） 机构信息 1、基本信息 | 会计师事务所名称 | | | | 大华会计师事务所（特殊普通合伙） | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 成立日期 | | | | 年 日 2012 2 9 | 月 | | | | 组织形式 | | | | 特殊普通合伙 | | | | | 注册地址 | | | | 北京市海淀区西四环中路 | | 16 | 号院 号楼 7 1101 | | 首席合伙人 | | | | 杨晨辉 | | | | | 截至 2024 | 年 | 月 12 31 | 日合伙人数量 | 人 150 | | | | | 截至 2024 | 年 | 月 12 31 | 日注册会计师人数 | 人 887 | | | | ...

云南恩捷新材料股份有限公司 关于召开2025年第九次临时股东会的通知 本公司及全体董事保证本公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 云南恩捷新材料股份有限公司（以下简称"公司"）第五届董事会第五十次会 议于2025年12月15日召开，会议决议于2025年12月31日在公司全资子公司云南红 塔塑胶有限公司三楼会议室以现场投票和网络投票相结合的方式召开公司2025 年第九次临时股东会，现将本次股东会的有关事项公告如下： 证券代码：002812 股票简称：恩捷股份 公告编号：2025-208 一、召开会议的基本情况 1、股东会届次：2025年第九次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易 所股票上市规则》《深圳证券交易所上市公司自律监管指引第1号——主板上市 公司规范运作》等法律、行政法规、部门规章、规范性文件及《云南恩捷新材料 股份有限公司章程》的有关规定。 4、会议时间： （1）现场会议时间：2025年12月31日 14:00 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025年12月31日9 ...

证券代码：002812 股票简称：恩捷股份 公告编号：2025-206 云南恩捷新材料股份有限公司 第五届董事会第五十次会议决议公告 本公司及全体董事保证本公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 一、董事会会议召开情况 审议结果：经表决，同意 9 票，反对 0 票，弃权 0 票。 本议案尚须提交公司 2025 年第九次临时股东会审议。 公司《关于拟变更会计师事务所的公告》（公告编号：2025-207 号）详见公 司指定信息披露媒体《证券时报》《中国证券报》《证券日报》《上海证券报》 及巨潮资讯网（www.cninfo.com.cn，下同）。 （二）审议通过《关于召开公司 2025 年第九次临时股东会的议案》 公司决定于 2025 年 12 月 31 日采用现场结合网络投票的方式召开公司 2025 云南恩捷新材料股份有限公司（以下简称"公司"）第五届董事会第五十次 会议（以下简称"本次会议"）于 2025 年 12 月 15 日下午 16 时在公司控股子公 司上海恩捷新材料科技有限公司三楼会议室以现场及通讯方式召开。本次会议由 董事长 Paul Xiaoming Lee 先生主持，会 ...

Core Viewpoint - Enjie Co., Ltd. is facing unprecedented challenges despite being the global leader in the separator industry for seven consecutive years, with a significant decline in revenue and a net loss reported for the first time since its listing [1][4]. Financial Performance - In 2024, Enjie reported revenue of 10.164 billion yuan, a year-on-year decline of 15.6%, and a net loss of 556 million yuan [1][4]. - For the first three quarters of 2025, revenue increased by 27.85% to 9.543 billion yuan, but the net loss was still 86.32 million yuan, with the gross margin dropping to 15.9%, down from over 40% previously [5]. - The separator industry is experiencing a price war, with a significant drop in prices due to oversupply and raw material price fluctuations [5]. Industry Context - In the first half of 2025, China's separator production reached 13.94 billion square meters, a year-on-year increase of 53.2%, with Enjie maintaining a market share of over 30% [5]. - Prices for wet separators decreased by 19.4% for 7um and 15.7% for 7+2+1um, while dry separators saw a price increase of 6% [2][5]. Strategic Intent - Enjie aims to capitalize on the growth of wet separator production by acquiring Zhongke Hualian, which has established significant production capacity and is expanding further [6]. - The acquisition is expected to optimize costs through supply chain integration, allowing Enjie to directly procure equipment and reduce production line debugging time [6]. - Zhongke Hualian's technological advancements in new materials will support Enjie's positioning in the solid-state battery market [6]. Challenges - Zhongke Hualian has reported continuous losses over the past three years, with a net loss of 191 million yuan in the first three quarters of 2025, necessitating close monitoring of its technology transfer and production capacity [6]. - Enjie faces challenges related to overseas operational costs and uncertainties in the solid-state battery technology pathway, which may impact its global strategy [6].

Investment Rating - The industry investment rating is "Overweight" (maintained), indicating that the industry index is expected to outperform the market index by more than 10% in the next six months [4]. Core Insights - In November 2025, the production and sales of new energy vehicles reached new highs, with production and sales of 1.88 million and 1.823 million units respectively, representing year-on-year growth of 20% and 20.6% [3]. - The penetration rate of new energy vehicles in November was 53.2%, up 1.6 percentage points month-on-month, while the cumulative penetration rate from January to November was 47.5% [3]. - The demand for lithium batteries remains robust, with a significant increase in battery production and sales in November, achieving a year-on-year growth of 49.2% and 52.2% respectively [3]. - The report maintains an optimistic outlook for lithium battery demand in the coming year, driven by strong storage demand and the ongoing industrialization of solid-state batteries [3]. Summary by Sections New Energy Vehicle Market - In November 2025, new energy vehicle production and sales reached 1.88 million and 1.823 million units, with year-on-year growth of 20% and 20.6% respectively [3]. - Cumulative production and sales from January to November were 14.907 million and 14.78 million units, with year-on-year growth of 31.4% and 31.2% [3]. - Exports of new energy vehicles in November reached 300,000 units, a year-on-year increase of 2.6 times [3]. Battery Production and Sales - In November, the production of power and other batteries was 176.3 GWh, with a year-on-year increase of 49.2% [3]. - Battery sales in November were 179.4 GWh, with a year-on-year increase of 52.2% [3]. - The sales of power batteries accounted for 74.7% of total sales, with a year-on-year growth of 52.7% [3]. Industry Outlook - The report suggests that the lithium battery industry will continue to see demand growth, particularly in the context of strong storage needs and the advancement of solid-state battery technology [3]. - Key companies to watch include CATL, Yiwei Lithium Energy, and others involved in the solid-state battery supply chain [3].

Group 1 - The battery sector experienced a decline of 1.74% compared to the previous trading day, with Enjie Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3867.92, down 0.55%, while the Shenzhen Component Index closed at 13112.09, down 1.1% [1] - A table detailing the individual stock performance within the battery sector was provided [1] Group 2 - In terms of capital flow, the battery sector saw a net outflow of 2.05 billion yuan from main funds, while retail investors contributed a net inflow of 1.664 billion yuan [2] - The table showing the capital flow for individual stocks in the battery sector was also included [2]

恩捷股份(002812.SZ)今日跌停，换手率6.24%，成交额26.18亿元。龙虎榜数据显示，深股通买入8632万元，卖出3.04亿元，净卖出2.18亿元；游资"量化基 金"位列卖二席位，净卖出4884万元。上榜席位全天买入2.88亿元，卖出4.73亿元，合计净卖出1.85亿元。(格隆汇) | 买入金额最大的前5名 序号 | 交易营业部名称 | | 买入金额(万) | 占总成交比例 | | --- | --- | --- | --- | --- | | 1 | 深股通专用 | 697次 44.48% 2 | 8632.57 | 3.30% | | 2 | 中国银河证券股份有限公司成都建设路证券营业部 | 1次 100.00% | 5999.42 | 2.29% | | 3 | 机构专用 | 1539次 41.26% ▶ | 3685.22 | 1.41% | | 4 | 机构专用 | 1539次 41.26% ▶ | 3612.03 | 1.38% | | 5 | 国泰海通证券股份有限公司蒙自天马路证券营业部 | 次 - A | 3607.55 | 1.38% | | 卖出金额最大的前5名 | | | | ...

Core Viewpoint - Enjie Co., Ltd. plans to acquire 100% of Qingdao Zhongke Hualian through a share issuance, aiming for vertical integration in the lithium battery separator industry, despite facing significant market skepticism due to a substantial share price discount [1][2]. Group 1: Company Overview - Enjie Co., Ltd. is a leading global supplier of lithium battery separators, maintaining the top market share for several consecutive years [1]. - The company's core product, lithium battery separators, is primarily used in the manufacturing of lithium batteries for electric vehicles, 3C products, and energy storage [1]. - Major clients include domestic leaders like CATL, Zhongxin Innovation, Guoxuan High-Tech, Yiwei Lithium Energy, and BYD, as well as international companies such as Panasonic and LGES [1]. Group 2: Acquisition Details - The acquisition involves 63 counterparties, including Zhi Lipeng and Qingdao Zhongzhida Investment, with plans to raise supporting funds through a share issuance to no more than 35 specific investors [1]. - Zhongke Hualian, established in 2011, specializes in R&D, production, and sales of wet lithium-ion battery separator production equipment and other polymer material production equipment [1]. - The acquisition is intended to enhance Enjie's core competitiveness through vertical integration within the industry [1]. Group 3: Financial Performance - Enjie Co., Ltd. reported its first annual loss since listing in 2024, with a net profit attributable to shareholders of -556 million yuan, and a significant drop in gross margin from 49.86% in 2021 to 11.07% in 2024 [2]. - Despite a revenue increase of 27.85% to 9.543 billion yuan in the first three quarters of 2025, the company still faced a net loss of 86.32 million yuan [2]. - Zhongke Hualian has also experienced continuous net losses over the past three years, with net profits of -82.43 million yuan in 2023, -293 million yuan in 2024, and -190 million yuan in the first three quarters of 2025 [2].

Core Viewpoint - Enjie Co., Ltd. (002812.SZ) has resumed trading, with its stock price hitting the daily limit down at 49.82 yuan, a decrease of 9.99% following the announcement of a share issuance plan to acquire 100% of Qingdao Zhongke Hualian New Materials Co., Ltd. [1] Group 1: Transaction Details - The company plans to acquire 100% of the target company through a share issuance to 63 counterparties, with the issuance price set at 34.38 yuan per share [1]. - The specific transaction price is yet to be determined as the audit and evaluation of the target company are not completed [2]. - The company intends to raise matching funds not exceeding 100% of the transaction price through a share issuance to no more than 35 qualified investors [2]. Group 2: Financial Performance of the Target Company - The target company has reported losses for two consecutive years and three quarters, with a total net profit of -576.80 million yuan [3]. - Projected revenues for the target company are 760.74 million yuan, 531.45 million yuan, and 606.64 million yuan for the years 2023, 2024, and the first three quarters of 2025, respectively [3]. - The net profits for the same periods are projected to be -90.39 million yuan, -295.38 million yuan, and -191.03 million yuan [3]. Group 3: Financial Metrics and Company Strategy - Enjie Co., Ltd. aims to enhance its product matrix and technological capabilities through this acquisition, which is expected to improve supply chain stability and global competitiveness [4]. - The company reported a significant decline in net profit for 2024, with a net loss of 556.32 million yuan, representing a 122.02% decrease compared to the previous year [6]. - The operating cash flow for the company has also decreased by 56.58% compared to the previous year [6].

Group 1 - China Baoan announced participation in the substantive merger and restructuring of Shanshan Group and its wholly-owned subsidiary, with a focus on enhancing global competitiveness in negative materials through capacity synergy and technological complementarity [1] - The company has submitted application materials and paid a due diligence deposit of 50 million yuan, indicating a commitment to the restructuring process [1] - Successful restructuring could reshape the industry landscape, although uncertainties remain regarding the outcome, integration challenges, and antitrust approvals [1] Group 2 - Enjie Co. plans to acquire 100% of Qingdao Zhongke Hualian New Materials Co., Ltd. through a share issuance, aiming to strengthen its position in the lithium battery separator market [2] - The acquisition represents a vertical integration strategy, enhancing technical barriers and cost control while improving production efficiency [2] - The stock will resume trading on December 15, and the deal is expected to accelerate domestic high-end separator replacement and global expansion [2] Group 3 - Rongbai Technology intends to acquire a stake in Guizhou Xinren and increase its capital, aiming to hold a 93.2% stake post-transaction [3] - The acquisition will enable rapid scaling of innovative lithium iron phosphate production capabilities, leveraging Guizhou Xinren's existing production line and expansion potential [3] - This transaction is part of Rongbai's dual-drive strategy of "ternary + lithium iron phosphate," expected to enhance market share and overall competitiveness in the lithium iron phosphate sector [3]