[CITIC Battery and Energy Management] Xinde New Materials Deep Report: Leading Anode Coating Material Supplier, Carbon Fiber New Products Ready to Launch

English summary

#Company Update: Profitability enters an upward channel, expanding into the new carbon fiber track. The company has been deeply engaged in anode coating materials for many years, with shipment volume ranking first nationally for years, making it a leading domestic industry enterprise. The company released its performance forecast for the first half of 2026, expecting net profit attributable to parent of RMB 65-70 million, up 562.34% to 664.24% year-on-year, mainly due to the industry upturn and the company's proactive matching of high-end customer needs. #Industry Change: The fast-charging era has arrived, and industry prosperity has entered an upward channel. Anode coating materials are performance boosters for anode materials, with addition amounts ranging from 5% to 30% in the anode. With the overall battery industry prosperity improving, downstream anode industry metrics such as capacity utilization and prices have all entered an upward channel. In addition, leading battery companies have launched a new generation of fast-charging batteries, which will drive up the unit addition of anode coating materials. ...