2025 Annual Board Work Report
In 2025, the board of directors of LiaoNing Xinde New Material Technology (Group) Co., Ltd. (hereinafter referred to as "the Company") strictly adhered to the relevant regulations of the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Shenzhen Stock Exchange GEM Listing Rules, and the Articles of Association, with strong support from all shareholders and the joint efforts of the management and employees. The board diligently fulfilled its responsibilities entrusted by the shareholders' meeting, strengthened internal management, and standardized company operations. At the same time, focusing on the company's strategic development goals, the board successfully achieved various operational targets and tasks, leading to sustained and stable development of the company. The following is the 2025 work report of the board of directors:
1. Main Operating Conditions in 2025
In 2025, the company remained focused on its production and operational plans and goals, centering on improving economic efficiency and service quality. The company actively expanded market share, innovated and optimized product services, implemented refined management to reduce costs and increase efficiency, and strictly controlled financial and operational risks to respond prudently to the complex domestic and international situations. During the reporting period, the company turned losses into profits. In 2025, the company achieved operating revenue of 1.161 billion yuan, a year-on-year increase of 43.28%, and a net profit attributable to shareholders of the listed company of 38.6187 million yuan. The price of the company's main product, negative electrode coating materials, slightly increased compared to 2024. The trend of intelligent electrification in the automotive market continued in 2025, with growing demand for new energy vehicles, especially fast-charging models. Additionally, the strong growth in the energy storage market gradually improved the industrial operating environment. The company seized industry opportunities, vigorously expanded the market, and effectively captured the demand increase from customers in the fields of new energy fast charging and energy storage. The shipment volume of the company's negative electrode coating materials increased due to industry growth, achieving annual sales of over 84,400 tons, a year-on-year increase of 39.62%. The market share and competitiveness continued to lead the industry, with upgrades and iterations in the product system and performance indicators, enhancing the structure of mid-to-high-end products. Furthermore, the prices of the main raw material, ethylene tar, are highly correlated with crude oil prices. With the decline in crude oil prices during the reporting period, and through deepening supply chain optimization and actively expanding procurement channels, the company effectively reduced raw material procurement costs and transportation expenses, leading to a decrease in overall procurement costs compared to the previous year.
At the same time, the company's management efficiency continued to improve, with a significant increase in capacity utilization. The company dynamically adjusted capacity utilization throughout the year, achieving an annual capacity utilization rate of 104.50%. Continuous optimization of production line processes and active scheduling of negative electrode coating materials compatible with "fast charging" and "super charging" high-rate power batteries were implemented to meet market demands for high-performance battery upgrades. These factors collectively drove steady improvement in operational performance.
2. Daily Work of the Board of Directors in 2025
(1) Board Meeting Convening
In 2025, the company's board of directors held a total of six board meetings, with all directors present at each meeting. The convening, holding, and voting procedures of each board meeting complied with the relevant provisions of the Company Law, the Articles of Association, and the Board Meeting Rules. The specific details of the board meetings are as follows: