2025-05-05-深交所-恩捷股份_2024年年度报告（英文版）_252页_3mb

Yunnan Energy New Material Co., Ltd. 2024 Annual Report Summary

Core Content Overview

This document is the 2024 Annual Report of Yunnan Energy New Material Co., Ltd., published in April 2025. It outlines the company's financial performance, corporate governance, environmental and social responsibility, and strategic outlook for the year. The report is issued in accordance with Chinese securities regulations and provides detailed information for investors and stakeholders.

Key Entities and Definitions

• Company Name: Yunnan Energy New Material Co., Ltd. (English: YUNNAN ENERGY NEW MATERIAL CO., LTD.)
• Stock Code: 002812 (Shenzhen Stock Exchange)
• Legal Representative: Paul Xiaoming Lee
• Registered Address: No.125, Fuxian Road, High-tech Zone, Yuxi City, Yunnan Province
• Key Subsidiaries:
  • Hongta Plastic (Yunnan Hongta Plastic Co., Ltd.)
  • Hongchuang Packaging (Yunnan Hongchuang Packaging Co., Ltd.)
  • Dexin Paper (Yunnan Dexin Paper Co., Ltd.)
  • Shanghai Energy, Zhuhai Energy, Wuxi Energy, Jiangsu Energy, etc.
• Key Shareholders:
  • Paul Xiaoming Lee and Sherry Lee (family-controlled)
  • Heyi Investment (previously controlling shareholder)
• Accounting Firm: RSM CHINA (Special General Partnership)
• Sponsor: CITIC Securities Company Limited (2023–2024)

Main Financial Indicators

• The Company did not pay any cash dividends, bonus shares, or convert reserves into share capital in 2024.
• The audit report for 2024 indicates uncertainty regarding the Company's ability to continue as a going concern.
• The Company’s net profit and other key financial indicators showed significant declines compared to 2023, primarily due to non-recurring items and market pressures.

Non-Recurring Gains/Losses

• Total non-recurring gains/losses for 2024: 56,980,482.36 RMB
• Key components:
  • Government subsidies: 86,288,377.95 RMB
  • Reversal of impairment provisions: 2,384,991.32 RMB
  • Other non-recurring items: 461,445.22 RMB
• The Company did not reclassify any non-recurring items as recurring.

Industry Overview and Outlook

Industry Conditions and Position

• The global shift toward green, low-carbon, and sustainable development has driven significant growth in the new energy vehicle and energy storage industries.
• The UAE Consensus at the UN Climate Change Conference marks a milestone in the transition to clean energy.
• The Company has maintained its market share leadership for seven consecutive years, with first-place production capacity and shipment volume in the lithium battery separator industry.
• It supplies to major global lithium battery manufacturers and has a presence in power, consumer, and energy storage batteries.

Industry Development Trends

• Global growth continues in the new energy vehicle and energy storage sectors.
  • Power battery installed capacity: 894.4 GWh (2024), up 27.2% year-on-year.
  • Energy storage battery shipments: 314.7 GWh (2024), up 60% year-on-year.
• Market expansion is expected, with applications in low-altitude economy, robotics, and other emerging fields.
• Competition intensifies, with cost pressures from downstream manufacturers and capacity expansion in the separator industry.
• Coating technology is a key differentiator, offering improved safety and service life for lithium batteries.

Strategic Focus and Future Outlook

• The Company is strengthening its innovation capabilities and product/customer structure.
• It continues to deepen global partnerships and expand market share.
• The Company emphasizes technological R&D and patent advantages to maintain its competitive edge.
• It is positioned to benefit from global market expansion and technological advancements in the lithium battery industry.

Other Key Sections

• Corporate Governance: The Board of Directors and Supervisory Committee were fully present and approved the report.
• Environmental and Social Responsibility: The report includes a section dedicated to the Company's environmental and social commitments.
• Shareholder and Share Changes: The controlling shareholder changed from Heyi Investment to Paul Xiaoming Lee in 2020.
• Document Availability: Financial statements and annual reports are available for inspection in the Company’s Securities Department and on designated platforms.

Conclusion

The 2024 Annual Report highlights the Company's continued leadership in the lithium battery separator industry, despite financial challenges and market pressures. Key areas of focus include technological innovation, global expansion, and corporate governance. The Company is actively adapting to the evolving landscape of the new energy industry, emphasizing product quality, cost control, and strategic partnerships to secure its position in the global market.