[年报]恩捷股份(002812):2023年年度报告（英文版）
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时间：2024年05月05日 19:16:36 中财网 |
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原标题:恩捷股份:2023年年度报告（英文版）
Stockabbreviation:Semcorp Stockcode:002812 AnnouncementNo.:2024-070
Bondabbreviation:EnergyConvertibleBond Bondcode:128095YunnanEnergyNewMaterialCo.,Ltd.
2023AnnualReport
April2024
2023AnnualReport
Section1ImportantNotes,ContentsandDefinitions
TheBoardofDirectorsanditsmembers,theSupervisoryCommitteeand
itsmembersandtheseniormanagementwarrantthatthecontentsofthe
Annual Report are truthful, accurate and complete, without any falsestatement,misrepresentationormajoromission,andthattheyarejointlyandseverallyliableforthem.
PaulXiaomingLee(theCompany’spersonincharge),LiJian(thepersoninchargeoffinance)andDengJinhuan(thepersoninchargeoftheaccountingdepartment)herebydeclareandwarrantthatthecontentsofthefinancialstatementsinthisAnnualReportaretruthful,accurateandcomplete.AllDirectorswerepresentattheBoardmeetingtoreviewthisAnnualReport.The future plans, development strategies and other forward-lookingdescriptions in this report do not constitute material commitments of theCompanytoinvestors.Investorsandrelatedpersonsshouldbefullyawareofthe risks in connection therewith and should understand the differencebetweenplan,forecastandcommitment.Investorsareadvisedtopayattentiontoinvestmentrisks.
Fordetails,pleaserefertothe“3.RiskstheCompanyMayFace”underthe“XI.OutlookfortheCompany’sFutureProspects”intheSection3“ManagementDiscussionandAnalysis”ofthisreport.
TheproposedprofitdistributionplanoftheCompanyasconsideredandapproved by the Board is: Based on 967,343,387 shares which is theCompany’stotalsharecapitalof977,755,643sharesasat11April2024minus10,412,256sharesheldintheCompany'srepurchasespecialsecuritiesaccount,acashdividendofRMB15.51(taxinclusive)per10shareswillbedistributedtoallshareholders,0bonusshareswillbeissued(taxinclusive),andnosharewillbeconvertedfromreserveintosharecapital.
Contents
Section1ImportantNotes,ContentsandDefinitions.........................错误！未定义书签。
Section2CompanyProfile&KeyFinancialIndicators.....................错误！未定义书签。
Section3ManagementDiscussionandAnalysis..................................错误！未定义书签。
Section4CorporateGovernance...........................................................错误！未定义书签。
Section5EnvironmentandSocialResponsibiliy.................................错误！未定义书签。
Section6SignificantEvents..................................................................错误！未定义书签。
Section7ShareChangesandShareholderDetails............................错误！未定义书签。
Section8DetailsaboutPreferredShares............................................错误！未定义书签。
Section9Detailsaboutbonds...............................................................错误！未定义书签。
Section10FinancialReport..................................................................错误！未定义书签。
DocumentsAvailableforInspection
I. Financialstatementssignedandsealedbythelegalrepresentative,thepersoninchargeoffinanceandthepersonincharge
oftheaccountingdepartmentoftheCompany.
II. TheoriginalcopiesofalldocumentsandannouncementsoftheCompanywhichhavebeenpubliclydisclosedinnewspapers
designatedbytheChinaSecuritiesRegulatoryCommissionduringtheReportingPeriod.III. Theoriginaltextofthe2023annualreportsignedbythechairmanoftheBoardofDirectors.IV. Theplacewheretheabovedocumentsaremaintained:theCompany’sSecuritiesDepartment.Definitions
| Terms | Definitions |
| Energy Technology, this Company, the
Company | YunnanEnergyNewMaterialCo.,Ltd. |
| Actualcontroller,PaulXiaomingLeefamily | PaulXiaomingLee,LiXiaohua,YanMa,YanYangHui,SherryLee,JerryYangLi |
| HongtaPlastic | YunnanHongtaPlasticCo.,Ltd.,awholly-ownedsubsidiaryoftheCompany |
| DexinPaper | YunnanDexinPaperCo.,Ltd.,awholly-ownedsubsidiaryoftheCompany |
| HongchuangPackaging | YunnanHongchuangPackagingCo.,Ltd.,acontrolledsubsidiaryoftheCompany |
| ShanghaiEnergy | ShanghaiEnergyNewMaterialTechnologyCo.,Ltd.,acontrolledsubsidiaryoftheCompany |
| ZhuhaiEnergy | ZhuhaiEnergyNewMaterialTechnologyCo.,Ltd.,asubsidiaryoftheCompany |
| WuxiEnergy | WuxiEnergyNewMaterialTechnologyCo.,Ltd.,asubsidiaryoftheCompany |
| JiangsuEnergy | JiangsuEnergyNewMaterialsTechnologyCo.,Ltd.,asubsidiaryoftheCompany |
| ChongqingEnergy | ChongqingEnergyNewMaterialTechnologyCo.,Ltd.,asubsidiaryoftheCompany |
| YuxiEnergy | YuxiEnergyNewMaterialsCo.,Ltd.,asubsidiaryoftheCompany |
| XiamenEnergy | XiamenEnergyNewMaterialsCo.,Ltd.,asubsidiaryoftheCompany |
| NewmiTech | ChongqingEnergyNewmiTechnologicalCo.,Ltd.,asubsidiaryoftheCompany |
| JiangxiTonry | JiangxiTonryNewEnergyTechnologyDevelopmentCo.,Ltd.,asubsidiaryoftheCompany |
| JiangsuRuijie | JiangsuRuijieNewMaterialsTechnologyCo.,Ltd.,asubsidiaryoftheCompany |
| JiangsuSanhe | JiangsuSanheBatteryMaterialTechnologyCo.,Ltd.,asubsidiaryoftheCompany |
| JiangxiRuijie | JiangxiRuijieNewMaterialsTechnologyCo.,Ltd.,asubsidiaryoftheCompany |
| JiangxiEnergy | JiangxiEnergyNewMaterialsTechnologyCo.,Ltd.,asubsidiaryoftheCompany |
| JiangxiEnpo | JiangxiEnpoNewMaterialsCo.,Ltd.,asubsidiaryoftheCompany |
| HubeiEnergy | HubeiEnergyNewMaterialsTechnologyCo.,Ltd.,asubsidiaryoftheCompany |
| SuzhouGreenPower | SuzhouGreenPowerNewEnergyMaterialsCo.,Ltd.,asubsidiaryoftheCompany |
| SEMCORPHungaryKFT | SEMCORPHungaryKorlátoltFelel?sség?Társaság(Hungary),asubsidiaryoftheCompany |
| HeyiInvestment | YuxiHeyiInvestmentCo.,Ltd.,ashareholderholdingmorethan5%oftheCompany’sshares |
| HeliInvestment | YuxiHeliInvestmentCo.,Ltd.,anemployeestockownershipplatformoftheCompany |
| GeneralMeetingofShareholders | ThegeneralmeetingofshareholdersofYunnanEnergyNewMaterialCo.,Ltd. |
| BoardofDirectors | TheBoardofDirectorsofYunnanEnergyNewMaterialCo.,Ltd. |
| SupervisoryCommittee | ThesupervisorycommitteeofYunnanEnergyNewMaterialCo.,Ltd. |
| CSRC | ChinaSecuritiesRegulatoryCommission |
| SZSE | ShenzhenStockExchange |
| CompanyLaw | CompanyLawofthePeople’sRepublicofChina |
| SecuritiesLaw | SecuritiesLawofthePeople’sRepublicofChina |
| ArticlesofAssociation | ArticlesofAssociationofYunnanEnergyNewMaterialCo.,Ltd. |
| Designatedinformationdisclosuremedia | ChinaSecuritiesJournal,ShanghaiSecuritiesJournal,SecuritiesTimes,SecuritiesDaily,Cninfo
(www.cninfo.com.cn) |
| RMB,RMB10thousand,RMB100million | RMB,RMB10thousand,RMB100million |
| ReportingPeriod,thisReportingPeriod | January1,2023toDecember31,2023 |
| Sameperiodlastyear | January1,2022toDecember31,2022 |
| Lithium-ionbattery,lithiumbattery | Rechargeablebattery,whichmainlydependsonthelithiumionmovingbetweenthepositiveand
negativeelectrodes.Itgenerallyusesmaterialscontaininglithiumastheelectrodes,andisthe
representativeofmodernhigh-performancebatteries |
| Lithiumbatteryseparator,theseparator | Inthestructureoflithiumbattery,theseparatorisoneofthekeyinnercomponents.Itsmain
functionistoseparatethepositiveandnegativeelectrodesofthebattery,preventingtheshort
circuitarisingfromthecontactbetweenthetwoelectrodes,currentconductionandoverheating |
| Basefilm,baseseparator | Theseparatorimmersedintheelectrolyteoflithiumbatteryiswidelydistributedwithnano-scale
microporesonitssurfaceforlithiumionstomovefreelybetweenthepositiveandnegative
electrodes |
| Coatingfilm,coatedseparator | Theseparatorwithcoatingtreatment |
| Wet-process,Wet-processing | Aprocesstechniqueoflithiumbatteryseparator,alsoknownasphaseseparationprocessor
thermallyinducedphaseseparationprocess,istoaddsmallmoleculeswithhighboilingpointas
porogentopolyolefin,heatandmeltthemintoauniformstate,extrudethecastingsheetbyscrew,
extracttheporogenwithorganicsolventaftersimultaneousorsequentialbiaxialstretching,and
thenobtainmicroporousseparatormaterialthroughpost-processingsuchasstretchingheatsetting
process |
| Dry-process,Dry-processing | Also known as melt-stretchingprocess, including unidirectional stretching process, biaxial
stretchingprocessandblowmoldingprocess.Itreferstoapreparationprocessofmeltingand
extrudingpolyolefinresinintocrystallinethinpolymerfilm,whichiscrystallizedandannealed
toobtainahighcrystallinitystructure,andthenfurtherstretchingathightemperaturetopeeloff
thecrystallineinterfacetoformporousstructure |
| Cigarettelabel | Cigarettepackaging,commonlyknownas“cigarettepack” |
| Asepticpackaging | Compositepackagingmaterialsforasepticfillingofdairyproductsornon-carbonatedsoft
drinks |
| Specialtypaper | Specialtypaperreferstothepaperwithspecialfunctions,ageneraltermforallkindsofspecial
purposepaperorartpaper.Theterm“specialtypaper”inthisreportmainlyreferstospecial
packagingpaper |
| BOPPfilm | Theseparatormadebystretchingandprocessing(suchascorona,coating,etc.)thethickfilm
madeofpolymerpolypropylenemeltatacertaintemperatureandspeedinaspecialstretcher |
| Cigarettefilm | BOPPfilmusedforthepackagingofcigarette,alsoknownas“BOPPcigarettefilm” |
| Flatfilm | BOPPfilmforgeneralpackaging,alsoknownas“BOPPflatfilm” |
| Aluminumlaminatedfilm | Aluminum laminated composite film for lithium-ion pouch cell, a packaging material for
lithium-ionbatteries,whichprotectstheinternalmaterialsoflithium-ionbatteries |
| ConvertibleBonds,EnergyConvertibleBonds | TheconvertiblecorporatebondsofRMB1.6billionissuedonFebruary11,2020withacodeof
128095 |
Section2CompanyProfile&KeyFinancialIndicators
I. CorporateInformation
| StockName | EnergyTechnology | StockCode | 002812 |
| Stocknamepriortochange(Ifany) | InnovationCo.,Ltd. | | |
| Thestockexchangewherethesharesarelisted | ShenzhenStockExchange | | |
| NameoftheCompanyinChinese | 云南恩捷新材料股份有限公司 | | |
| ShortNameoftheCompanyinChinese | 恩捷股份 | | |
| NameoftheCompanyinEnglish(Ifany) | YUNNANENERGYNEWMATERIALCO.,LTD. | | |
| ShortNameoftheCompanyinEnglish(Ifany) | ENERGYTECHNOLOGY | | |
| LegalRepresentativeoftheCompany | PaulXiaomingLee | | |
| RegisteredAddress | No.125,FuxianRoad,High-techZone,YuxiCity,YunnanProvince | | |
| PostalCodeforRegisteredAddress | 653100 | | |
| HistoricalChangesoftheRegisteredAddressofthe
Company | No | | |
| OfficeAddress | No.125,FuxianRoad,High-techZone,YuxiCity,YunnanProvince | | |
| PostalCodeforOfficeAddress | 653100 | | |
| OfficialWebsite | www.semcorp.com | | |
| Email | [email protected] | | |
II.ContactInformation
| | BoardSecretary | SecuritiesAffairsRepresentative |
| Name | YuXue | |
| CorrespondenceAddress | No.125,FuxianRoad,High-techZone,YuxiCity,YunnanProvince | |
| Telephone | 0877-8888661 | |
| Fax | 0877-8888677 | |
| Email | [email protected] | |
III.InformationDisclosureandthePlaceWheretheAnnualReportisKept
| ThewebsiteofthestockexchangewheretheCompany
disclosesitsannualreport | ShenzhenStockExchange(www.szse.cn) |
| Thenamesandwebsitesofthemediawherethe
Companydisclosestheannualreport | SecuritiesTimes,ChinaSecuritiesJournal,ShanghaiSecuritiesJournal,Securities
DailyandCninfo(www.cninfo.com.cn) |
| Theplacewheretheannualreportiskept | SecuritiesDepartmentoftheCompany |
IV.ChangesofRegistration
| Unifiedsocialcreditcode | 91530000727317703K |
| ChangesofmainbusinessessincetheCompany’slisting | WhentheCompanywaslisted,itsmainbusinessesweredividedintotwocategories:
(1)packagingmaterials:BOPPfilms(cigarettefilmandflatfilm)andspecialtypaper |
| (ifany) | products(lasertransferanti-counterfeitingpaper,directplatingpaperandcellophane);
(2)packagingprintingproducts:mainlyincludingcigarettelabelproductsandaseptic
packagingproducts.Uponthecompletionofmajorassetrestructuringin2018,the
Company’smainbusinessesweredividedintothreecategories:(1)filmproducts
(lithiumbatteryseparator,cigarettefilmandflatfilm);(2)packagingprintingproducts
(cigarettelabelandasepticpackaging);and(3)packagingproducts(specialtypapers,
holographicanti-counterfeitingelectrochemicalaluminumandotherproducts). |
| Changesofcontrollingshareholders(ifany) | Mr. Paul Xiaoming Lee and Ms. Sherry Lee, who are shareholders and actual
controllersoftheCompanyandmembersofXiaomingLee’sfamily,signedthePower
ofAttorneyforShareholdingonJanuary14,2020.PursuanttothePowerofAttorney,
Ms.SherryLeefullydelegatedtheshareholders’rights,suchasrightstoaddress
inquiries,proposeandvote,inconnectionwithallthesharessheheldintheCompany,
toherfatherMr.PaulXiaomingLee,foraperiodofthreeyearsfromthedateofthe
PowerofAttorney.Afterthesigningoftheabove-mentionedPowerofAttorneyfor
Shareholding,Mr.Paul XiaomingLeehas becomethe singleshareholder ofthe
Companywiththelargestnumberofshareswithvotingright,andthecontrolling
shareholderoftheCompanychangedfromHeyiInvestmenttoMr.PaulXiaoming
Lee.Theabove-mentionedPowerofAttorneyforShareholdingexpired.Atpresent,
Mr.PaulXiaomingLeeisstillthecontrollingshareholderoftheCompany. |
V. OtherRelevantInformation
TheaccountingfirmengagedbytheCompany
| Thenameoftheaccountingfirm | DahuaCPAs(SGP) |
| Theofficeaddressoftheaccountingfirm | 12/F,Building7,16XiSiHuanZhongRoad,HaidianDistrict,Beijing |
| Thenamesoftheaccountants | KangWenjunandYaoRui |
ThesponsorengagedbytheCompanytoperformcontinuoussupervisiondutiesduringtheReportingPeriod?Applicable□Notapplicable
| Nameofsponsor | Officeaddressofsponsor | Nameofsponsorrepresentative | Supervisionduration |
| CITICSecuritiesCompany
Limited | 21/F,CITICSecuritiesTower,
No.48LiangmaqiaoRoad,
ChaoyangDistrict,Beijing | WangJiajiandLiuChunqin | FromJune20,2023toDecember
31,2024 |
ThefinancialadviserengagedbytheCompanytoperformcontinuoussupervisiondutiesduringtheReportingPeriod□Applicable ?notapplicable
VI.KeyAccountingDataandFinancialIndicators
WhethertheCompanyisrequiredtoretroactivelyadjustorrestateprioryears’accountingdata□Yes ?No
TheloweroftheCompany’snetprofitsbeforeandafterthedeductionofnon-recurringgainsorlossesforthelastthreefiscalyearsarenegative,
andtheauditreportforthelatestyearshowsthatCompany’sabilitytocontinueasagoingconcernisuncertain
| | 2023 | 2022 | Increaseordecreasefor
theyearoverlastyear | 2021 |
| Operatingrevenue(RMB) | 12,042,229,789.30 | 12,590,925,529.68 | -4.36% | 7,982,426,810.59 |
| Netprofitsattributabletoshareholdersofthelisted
company(RMB) | 2,526,688,570.92 | 4,000,461,964.37 | -36.84% | 2,717,628,798.01 |
| Netprofitsattributabletoshareholdersofthelisted
company(excludingnon-recurringprofitandloss)
(RMB) | 2,461,257,928.99 | 3,839,792,123.08 | -35.90% | 2,567,054,537.19 |
| Netcashflowsfromoperatingactivities(RMB) | 2,667,453,259.32 | 503,587,598.66 | 429.69% | 1,418,645,377.82 |
| Basicearningspershare(RMB/share) | 2.68 | 4.48 | -40.18% | 3.06 |
| Dilutedearningspershare(RMB/share) | 2.58 | 4.46 | -42.15% | 3.05 |
| Weightedaveragereturnonnetassets | 11.87% | 25.39% | -13.52% | 21.85% |
| | Endof2023 | Endof2022 | Increaseordecreasefor
theyearoverlastyear | Endof2021 |
| Totalassets(RMB) | 47,200,916,635.69 | 38,622,731,492.57 | 22.21% | 26,122,184,844.54 |
| Netassetsattributabletoshareholdersofthelisted
company(RMB) | 26,926,495,494.24 | 17,726,202,872.37 | 51.90% | 13,831,866,927.31 |
□Yes ?No
Thelowerofthenetprofitbeforeandafterthedeductionofnon-recurringgainsorlossesisnegative□Yes ?No
VII. AccountingDataDifferencesunderDomesticandForeignAccountingStandards
1. DifferencebetweenthenetprofitandnetassetsofthefinancialreportdisclosedinaccordancewiththeinternationalaccountingstandardsandinaccordancewiththeChineseaccountingstandards□Applicable ?Notapplicable
TherewasnodifferencebetweenthenetprofitandnetassetsofthefinancialreportoftheCompanydisclosedinaccordancewiththeinternational
accountingstandardsandinaccordancewiththeChineseaccountingstandardsduringtheReportingPeriod.2. DifferencebetweenthenetprofitandnetassetsofthefinancialreportdisclosedinaccordancewiththeoverseasaccountingstandardsandinaccordancewiththeChineseaccountingstandards□Applicable ?Notapplicable
TherewasnobetweenthenetprofitandnetassetsofthefinancialreportoftheCompanydisclosedinaccordancewiththeoverseasaccounting
standardsandinaccordancewiththeChineseaccountingstandardsduringtheReportingPeriod.VIII. KeyFinancialIndicatorsbyQuarter
Unit:RMB
| | Q1 | Q2 | Q3 | Q4 |
| Operatingrevenue | 2,568,465,530.97 | 3,000,010,371.70 | 3,524,931,659.68 | 2,948,822,226.95 |
| Netprofitsattributabletoshareholdersofthelistedcompany | 649,239,029.72 | 755,422,136.90 | 748,899,694.20 | 373,127,710.10 |
| Netprofitsattributabletoshareholdersofthelisted
company(excludingnon-recurringprofitandloss) | 627,858,465.64 | 716,050,741.18 | 710,064,403.06 | 407,284,319.11 |
| Netcashflowsfromoperatingactivities | 726,077,344.95 | 544,779,211.99 | 1,782,153,270.14 | -385,556,567.76 |
Whethertheabovefinancialindicatorsortheirsumsaremateriallydifferentfromthosedisclosedinthequarterlyandinterimreportsofthe
Company
□Yes ?No
IX.ItemsandAmountsofNon-RecurringGainsorLosses
?Applicable□Notapplicable
Unit:RMB
| Item | Amountin2023 | Amountin2022 | Amountin2021 | Description |
| Gainsandlossesfromthedisposalofnon-currentassets | -2,635,244.01 | -4,869,891.53 | -1,303,244.16 | |
| Governmentsubsidiesrecognizedincurrentprofitorloss
(exceptforthosecloselyrelatedtotheCompany’snormal
business and are in line with national policies and in
accordance with defined criteria that have a continuing
impactontheCompany'sprofitorloss) | 91,546,051.06 | 171,995,624.29 | 140,888,128.01 | |
| Gainsorlossesfromchangesinfairvaluearisingfrom
financialassetsandfinancialliabilitiesheldbynon-financial
corporation,andgainsorlossesfromdisposaloffinancial
assetsandfinancialliabilities,excludingtheeffective
hedgingbusinessrelatedtotheCompany’snormalbusiness
operations | 15,433,062.02 | 21,836,255.17 | 137,194.34 | |
| Gainsorlossesonentrustedinvestmentsorassets
management | | 27,838,099.70 | 25,422,322.79 | |
| Reversaloftheprovisionsforimpairmentofreceivables
subjecttoseparateimpairmenttest | 102,906.06 | 2,078,410.35 | 11,749,733.34 | |
| One-offshare-basedpaymentexpenserecognizedasaresult
of cancellation and modification of the share incentive
scheme | -21,942,152.71 | | | |
| Non-operating income and expenses other than above-
mentioneditems | -44,249.00 | 818,785.95 | 4,316,746.86 | |
| Otheritemswithinthedefinitionofnon-recurringgainsor
losses | 589,416.97 | 5,824,344.40 | 5,038,461.95 | |
| Less:effectoftheincometax | 12,614,212.47 | 56,380,407.08 | 27,937,401.47 | |
| Effectofminorityequities | 5,004,935.99 | 8,471,379.96 | 7,737,680.84 | |
| Total | 65,430,641.93 | 160,669,841.29 | 150,574,260.82 | -- |
Detailsofotherprofitorlossitemsthatfallwithinthemeaningofnon-recurringgainorloss:□Applicable ?Notapplicable
TheCompanyhasnodetailsofotherprofitorlossitemsthatfallwithinthemeaningofnon-recurringgainorloss.ThereasonfortheCompanytodefinethenon-recurringprofitorlossitemsillustratedintheInformationDisclosureandPresentationRulesfor
CompaniesMakingPublicOfferingofSecuritiesNo.1–Non-recurringProfitorLossasrecurringprofitorlossitems
□Applicable ?Notapplicable
TheCompanydidnotdefinethenon-recurringprofitorlossitemsillustratedintheInformationDisclosureandPresentationRulesforCompanies
MakingPublicOfferingofSecuritiesNo.1–Non-recurringProfitorLossasrecurringprofitorlossitems.Section3ManagementDiscussionandAnalysis
I. IndustryOverviewoftheCompanyduringtheReportingPeriod
TheCompanyshallcomplywiththedisclosurerequirementssetoutin“RubberandPlasticProductsManufacturing”under“ChemicalIndustry
RelatedBusiness”intheSelf-DisciplinaryRegulatoryGuidelinesforCompaniesListedontheShenzhenStockExchangeNo.3–Industry
InformationDisclosure.
1. IndustryconditionsandtheindustrypositionoftheCompany
In2023,withincreasingglobalattentionongreen,low-carbon,andsustainabledevelopment,morethan150countriessetambitiousgoalsfor
carbonneutrality.AttheUnitedNationsClimateChangeConference,nearly200countriesreachedamilestoneagreement-"UAEConsensus",
markingthefirstconsensusinnearlythreedecadesontransitioningtheenergysystemfromfossilfuelstocleanenergy.Inviewofthestrong
growthmomentumofglobalnewenergyvehiclemarket,countriesintensifiedeffortstopromotethedevelopmentofthenewenergyindustry
centeredaroundlithiumbatterytechnology.GuidedbyChina'snationalstrategicgoalsofcarbonneutralityandcarbonpeaking,thenewenergy
vehicleandenergystorageindustrieswillcontinuetomaintaintherapiddevelopmentmomentum.Asoneofthefourkeymaterialsoflithium
batteries,lithiumbatteryseparatorsarewidelyusedinelectricvehicles,consumerelectronics,energystoragebatteries,andotherfields,playinga
pivotalroleindrivingthedevelopmentofChina'sandevenglobalnewenergyindustries.Asaleadingcompanyinthelithiumbatteryseparatorindustry,theCompanynotonlypossessessignificantcompetitivenessinglobalproduction
capacity,productquality,cost-effectiveness,andtechnologicalresearchanddevelopment,butalsohassuccessfullyintegratedintothesupplychain
systemsofthevastmajorityofmainstreamlithiumbatterymanufacturersworldwide.Ourproductscoverthethreemajorfieldsofpower,
consumerelectronics,andenergystorage,withabundantapplicationscenarios.In2023,theCompanymaintaineditsleadingpositioninthe
industry,withbothproductioncapacityandshipmentvolumeofseparatorproductsrankingfirstintheindustry.2. Industrydevelopmenttrends
Therapiddevelopmentoftheglobalnewenergyvehicleindustryandenergystoragemarket,alongwiththecontinuousexpansionofthelithium
batteryindustrymarket,hasbroughtvastmarketpotentialandhistoricdevelopmentopportunitiesforthelithiumbatteryseparatorindustry.
AccordingtotheChinaLithium-ionBatterySeparatorIndustryDevelopmentWhitePaper(2024)releasedbyresearchinstitutionEVTankin
collaborationwithChinaYiWeiInstituteofEconomics,theshipmentvolumeoflithium-ionbatteryseparatorsinChinaincreasedby32.8%year-
on-yearin2023,reaching17.69billionsquaremeters.Specifically,theshipmentvolumeofwet-processseparatorsreached12.94billionsquare
meters,whilethatofdry-processseparatorsreached4.75billionsquaremeters.EVTankstatedinthewhitepaperthattheglobalshipmentvolume
oflithium-ionbatteryseparatorsexceeded21billionsquaremetersin2023,andtheglobalshareofshipmentsfromChineseseparatorcompanies
hadsurpassed83%inthesameyear.
(1)TheseparatorindustryhasvastmarketpotentialandhighproductioncapacityrequirementsFromaglobalperspective,Chinahastakentheleadinthedevelopmentofelectricvehicles,whileoverseasregionssuchasEuropeandAmerica
arerapidlycatchingup.Giventheenormousgrowthpotentialofoverseasnewenergyvehicleandlithiumbatterymarkets,theGaogongIndustry
Institute(GGII)predictsthatgloballithiumbatteryshipmentswillexceed4TWhby2030.Thepenetrationrateofnewenergyvehiclesinoverseas
marketsisstilllowercomparedtodomesticmarkets;therefore,thegrowthrateofoverseasmarketsisexpectedtosurpassthatofdomesticmarkets
inthefuture.Asanindispensablekeyrawmaterialinlithiumbatterymanufacturing,thestableandreliableproductioncapacityandproductquality
oflithiumbatteryseparatorsiscrucialforseparatorcompaniestoundertakelarge-scaleordersfromdownstreamcustomers.Leveragingtheir
productioncapacity,productandtechnologyR&Dadvantages,separatormanufacturerscancontinuouslydeepencooperationwithcorecustomers,
therebyhelpingthemtofurtherexpandmarketshareandenhancemarketinfluence.(2)Theimportanceofenhancingresearchanddevelopmentinnovationcapabilitiesandoptimizingproductandcustomerstructuresbecomemore
prominent
Lithiumbatteriesarethecorecomponentsofnewenergyvehicles.Asthemarketgraduallytransitionsfrompolicy-orientedtomarket-driven,
manufacturershaveincreasinglystringentrequirementsforkeyperformanceattributesoflithiumbatteries,suchassafety,rangecapacity,and
lifespan. The continuous advancement of lithium battery technology imposes higher requirements on the performance improvement and
technologicaliterationofseparatorproducts.Therefore,separatorcompaniesthatpossesscoretechnologiesandindependentR&Dandinnovation
capabilitieswillhavebetterdevelopmentprospectsandpotential.
Sincethebeginningof2023,thecompetitionintheseparatorindustryhasbecomeincreasinglyfierce,andoptimizingproductandcustomer
structureshasbecomeoneofthetrendsinthedevelopmentofseparatorcompanies.Coatinginorganicceramicmaterials,PVDF,aramid,andother
materialsonthebasefilmcaneffectivelyenhancethepunctureresistanceandheatresistanceoflithiumbatteryseparators,improvingthesafety
andlifespanofbatteries.Comparedwithbasefilms,coatedfilmsarebetterabletomeetthekeyperformancerequirementsoflithiumbatteriesfor
separators,offeringhigherproductaddedvalue.Therefore,separatorcompaniesthatpossessthecoretechnologyofhigh-qualitycoatedfilmshave
betterdevelopmentprospects,andincreasingtheshipmentvolumeofcoatedfilmshelpsenhancethecomprehensiveprofitability.Meanwhile,
separatorcompaniesneedtocontinuouslydevelopnewproductstoensurethattheypossessnewproductioncapabilities.Intermsofspecific
productfeatures,improvingtheheatresistance,mechanicalstrength,andotherperformanceaspectsofseparatorproductstomeetthesafetyand
lifespanrequirementsoflithiumbatteries,whilemeetingthedemandforslimmingtoenhancetheenergydensityandrangeoflithiumbatteries,
remainsatrendinseparatorproductdevelopment.Intermsofoptimizingcustomerstructure,wemustrampupeffortsinthemaintenanceand
developmentofkeycustomerswhileinexploringoverseasmarketsandacceleratingglobaloutreach.Inaddition,theCompanyhasdiverseproductlinesinmultipleproductsegmentssuchasBOPPfilm,asepticpackaging,andaluminum-plasticfilm.
Afterapproximately30yearsofsteadydevelopmentoftheBOPPfilmindustryinChina,thetechnologyhasbecomeincreasinglymature,while
themarketcompetitionhasalsobecomefiercer.Inthefuture,thedevelopmentdirectionoftheindustrywillfocusmoreonmanufacturing
differentiatedproductsthatmeetcustomerdemands,suchascigarettepackwrappingfilmandlaserfilm.Theseproductswillbewidelyusedin
packagingsegmentssuchascigarettesandfood,whichhaveenormousmarketpotential.Withthecontinuousexpansionoftheterminalmarket,the
BOPPfilmindustrywillalsobepoisedfornewgrowthopportunities.
Inrecentyears,China'sasepticpackagingmarkethasgraduallyestablishedaproductsystemwithmaturetechnologyanddiverseproducttypes,
capableofmeetingtheneedsofasepticfillingofvariousliquids.Theprimaryapplicationareasofasepticpackagingareconcentratedinthefood
andbeverageindustriessuchasliquiddairyproductsandnon-carbonatedbeverages.Withthecontinuousprosperityofthedomesticeconomyand
theincreaseinurbanresidents'income,consumermindsetandhealthawarenesshavegraduallyimproved,leadingtoarapidgrowthmomentumin
theconsumptionofdairyproductsandnon-carbonatedbeverages.Atthesametime,theincreasingattentionfromboththegovernmentand
consumersonfoodsafetyhasledtostricterrequirementsforpackagingmaterials,especiallyasepticpackagingmaterials,resultinginrising
demands.Althoughinternationalpackaginggiantsstilldominatethemarketduetotheirfirst-moveradvantage,withthecontinuousprogressof
domesticmaterialtechnologyandproductiontechnology,thedomesticasepticpackagingmarketispoisedforrapidgrowthopportunities.Looking
ahead,leveragingcost-effectivenessadvantages,domesticmanufacturersareexpectedtograduallyexpandtheirproductsfromthemid-to-low-end
markettothehigh-endasepticpackagingmarket.Asaresult,themarketshareofdomesticasepticpackagingmanufacturersisexpectedto
graduallyincrease.
Aluminumlaminatedfilm,asacrucialencapsulationmaterialforpouchcells,representsoneofthemosttechnicallychallengingaspectsinthe
pouchcellindustrychain,exertingsignificantinfluenceonthequalityofpouchcells.Comparedtocylindricalandprismaticbatteries,pouch
batteriesdemonstrateevidentadvantagesinenergydensity,cyclelife,safety,andflexibility.Intherealmofconsumerelectronicswhichseeks
high-capacityandlightweight,pouchcellshavebecomethemainstreamchoice,withtheirpenetrationratesurpassing80%inmobilephonesand
laptops,andapproachingsaturationintabletbatteries.Inthefieldoftractionbatteries,theEuropeanandAmericannewenergyvehiclemarkets
showastrongpreferenceforpouchpowerbatteries.Withcontinuousadvancementsinbatterytechnologyanddecliningcosts,thecompetitiveness
ofpouchbatteriesisgraduallyimproving.Anincreasingnumberofautomotivemanufacturersareoptingforpouchcellsasthepowersourcefor
newenergyvehicles,furtherdrivingthegrowthofpouchcellshipments.Itisanticipatedthat,drivenbydownstreamlithiumbatterydemand,the
marketdemandforpouchcellsandaluminumlaminatedfilmwillcontinuetoexpand,withthemarketsizeofaluminumlaminatedfilmexpectedto
growcontinuouslyinthecomingyears.
3.Industrypolicies
Asanindispensablecorecomponentinlithiumbatterymanufacturing,theCompany'smainproduct-lithiumbatteryseparators,hasreceived
significantattentionandsupportfromnationalpolicies.Inrecentyears,thegovernmenthasissuedaseriesofrelatedindustrialpoliciesforthis
sector,asdetailedbelow:
| Date | IssuingAuthority | NameofPolicyorRegulation | MainContent |
| August
2022 | Ninedepartments
includingMOST,
NDRCandMIIT | TechnologytoSupportCarbon
EmissionPeakandCarbon
NeutralImplementationPlan
(2022-2030) | Proposetheactionplanforlow-carbonandzero-carbontechnology
researchinurbanandruralconstructionandTransportation,focusingon
recentbreakthroughsinbasicresearchinkeyareassuchasnewenergy
developmentandcutting-edgeenergystorage |
| November
2022 | MIIT,SAMR | NoticeonPromotingthe
CoordinatedandStable
DevelopmentoftheLithium-ion
BatteryIndustrySupplyChain | Guidinglithiumbatteryenterprisestomoderatelyexpandproductionscale
asneededunderthepremiseofstablesupplyofkeymaterials,sufficient
investmentinresearchanddevelopmentinnovation,andadequate
supportingfunds.It'simportanttooptimizetheindustrialregionallayout,
avoidlow-levelhomogeneousdevelopmentandviciouscompetition,and
establishadevelopmentpatternledbyinnovation,prioritizingtechnology,
faircompetition,andorderlyexpansion. |
| January
2023 | MIIT | GuidingOpinionsonPromoting
theDevelopmentoftheEnergy
ElectronicsIndustry(Draftfor
Comments) | Promotetheintelligentupgradingofbasicmaterialproduction,enhancethe
productionofsiliconmaterials,siliconwafers,energystoragebattery
materials,andhigh-performancebatteries.Improvethemechanizationand
automationlevelsofpackaging,storage,andtransportationtoenhance
productconsistencyandstability. |
| February
2023 | Eightdepartments
includingMIIT | CircularontheOrganizationof
PilotZonesfortheFull
ElectrificationofPublicSector
Vehicles | Thegoalistosignificantlyincreasethelevelofelectrificationforvehicles,
aimingtoreach80%inurbanpublictransportation,taxis,sanitation,postal
andexpressdelivery,andurbanlogisticsdistributionsectors |
| June2023 | MIIT,MOF,MOC,
GAC,andSAMR | DecisiononAmendingthe
“MeasureontheParallel
AdministrationoftheCorporate
AverageFuelConsumptionand
NewEnergyVehicleCreditsof | Adjustthemethodofpointcalculationandtheupperlimitofpoints;
establishaflexiblepointtradingmechanism,exploretheestablishmentofa
pointspoolsystem;optimizeotherpointsmanagementsystems. |
| | | PassengerVehicleEnterprises” | |
| June2023 | MOF,STA,MIIT | AnnouncementonRenewalof
theVehiclePurchaseTax
ExemptionPolicyforNew
EnergyVehicles | Duringtheperiodfrom1January2024to31December2025,newenergy
vehiclesareexemptfromvehiclepurchasetax,witheachnewenergy
passengercareligibleforataxexemptionofuptoRMB30,000 |
| September
2023 | NDRC,NEA | BasicRulesfortheElectricity
SpotMarket(Trial) | Thegoalistoenhancetheadjustmentcapacityofthepowersystem,
promotetheconsumptionandabsorptionofrenewableenergy,and
facilitatethetransformationofthepowersystemtowardsaclean,low-
carbon,safe,andefficientdirection |
II. MainBusinessesoftheCompanyduringtheReportingPeriod
TheCompanyshallcomplywiththedisclosurerequirementsforthechemicalindustrysetforthintheSelf-DisciplinaryRegulatoryGuidelinesfor
CompaniesListedontheShenzhenStockExchangeNo.3–IndustryInformationDisclosureProcurementmodelformajorrawmaterials:
Unit:RMB
| Majorrawmaterials | Procurementmodel | Proportion in total
procurementamount | Whether there are
significant changes
in settlement
methods | Averagepriceinthe
firsthalfoftheyear | Averagepriceinthe
second half of the
year |
| RawmaterialA | Marketprocurement | 32.82% | No | 23.27 | 24.30 |
| RawmaterialB | Marketprocurement | 24.24% | No | 12.16 | 11.92 |
| RawmaterialC | Marketprocurement | 11.48% | No | 7.48 | 7.35 |
| RawmaterialD | Marketprocurement | 8.02% | No | 7.40 | 6.80 |
Energyprocurementcostsaccountforover30%oftotalproductioncosts□Applicable ?Notapplicable
| Majorproducts | Phase in
production
technology | Informationaboutkey
technicalpersonnel | Patenttechnology | StrengthsinproductR&D |
| Lithium battery
separator | Industrializ
ation | All are employees of
the Company, who
continue to carry out
R&D projects and
proactively respondto
the needs of
downstreamcustomers | The Company's R&D team
forlithiumbatteryseparators
has achieved a series of
accomplishments in
improving production
efficiencyandlithiumbattery
separatorbusiness.Currently,
thereareatotalof407valid
patents, including 34
international patents.
Additionally,258patentsare
currently under application,
including 102 international
patentapplications. | TheCompanyhasbuiltawell-establishedR&Dteam
overtheyears,coveringawiderangeofresearch
areas including separator and coating production
equipment, improvements in separator preparation
processes and raw materials, coating processes,
slurry formulations, recycling and energy-saving
technologies,aswellasthedevelopmentofforward-
looking technological reserve projects. The
Company'spioneeringonlinecoatingtechnologyhas
further enhanced the quality and production
efficiencyofcoatedfilmproducts.Additionally,the
Company'slithiumbatteryseparatorR&Dteamnot
only customizes the development of various new
products for downstream customers but also
collaborateswiththemtodevelopproductsthatmeet
diversecustomerneeds. |
| BOPPfilm | Industrializ
ation | All are employees of
the Company, who
develop relevant
products in proactive
response to the needs
of downstream
customers | Currently,thereare60valid
patents,including6invention
patentsand54utilitymodel
patents;1patentiscurrently
underapplication. | TheCompanyhasaccumulatednearlythirtyyearsof
experienceintechnicalresearchanddevelopment.
Leveragingawell-establishedR&Dteamwithinthe
Company'sresearchinstitutesystem,theCompany
candeveloprelatedproductsaccordingtocustomer
needs. It is one of the few domestic enterprises
capable of producing anti-counterfeiting printed
cigarettefilms. |
| Aseptic
packaging | Industrializ
ation | All are employees of
the Company, who
develop relevant
products based on
demandsofthemarket
and downstream
customers | Currently,thereare41valid
patents,including2invention
patents, 30 utility model
patents,and9designpatents;
2patentsarecurrentlyunder
application. | Leveragingawell-establishedR&Dteamwithinthe
Company'sresearchinstitutesystem,theCompany
candeveloprelatedproductsaccordingtocustomer
needstomeetdiversecustomerneeds. |
Productioncapacityofmajorproducts
| Majorproducts | Designedcapacity | Capacity utilization | Capacity under | Investmentinconstruction |
| | | rate | construction | |
| Lithiumbatteryseparator | 200 million square
meters | 83.22% | ChongqingEnergy(Phase
II),JiangsuEnergy,Hubei
Energy,YuxiEnergy | Part of the production lines of
ChongqingEnergy(PhaseII),Jiangsu
Energy,andHubeiEnergyhavebeen
put into operation, while the
construction of Yuxi Energy is
underway |
| BOPPfilm | 70,000tons | 70.40% | 1 relocation production
lineininstallation | 1 relocation production line in
installation |
| Asepticpackaging | 5.2 billion
packagingboxes | 82.42% | Ma'anshan Aseptic
Packaging Production
Base | TheconstructionworkoftheMa'anshan
AsepticPackagingProductionBaseis
currentlyunderway |
Note:Intheabovetable,theproductioncapacityoflithium-ionbatteryseparatorparentrolliscalculatedbasedonthenormalwearcausedby（未完）
