摘要 "3度电+"成电摩普及关键门槛。 短途出行领域的电动化与锂电化进程持续加速，全球电动摩托车市场正迅速崛起。 为何是 "3度电 + "？ 源于真实场景的 精准洞察 星恒提出 "3度电+"的理念，并非凭空设定，而是基于对全球用户真实出行场景的精准洞察，以及对其锂电池产品100亿公里级骑行数据的深度验证。 这一主张的背后，是国内外电动化进程中涌现出的共性需求。无论是国内从电动自行车向电摩的 结构性 升级，还是海外燃油摩托车的电动化转换，消 费者的核心诉求都聚焦于 "可靠、实用、无焦虑"。 数据的支撑更为具体。根据《 2024年度中国主要城市通勤监测报告》，国内主要城市居民的周通勤里程普遍达到80-100公里，低电量电摩已难以满 足日常需求。而在海外市场，参考新能源汽车的普及规律，当电动产品的实用续航达到同级燃油车50%以上时，替代进程将显著加速。鉴于主流燃油 摩托车的续航普遍在200公里左右，这意味着电摩需要实现100公里以上的续航，才能形成有说服力的替代方案。 与此同时，电摩若要在性能上真正对标燃油摩托车，还需满足均速 50km/h、极速100km/h以上的动力要求。综合"续航破百"与"速度过百"这两项硬 ...

摘要 英国储能市场的大转变，要求进入此市场的储能企业必须具备更强的市场信号捕捉能力、灵活充 放电技术，以及深度本地化运营经验。 2025 年的英国储能市场正迎来历史性爆发。 根据 Renewable UK 的数据，截至 2025 年初，英国已投运的电池储能项目总容量达到 6.8GW/10.5GWh ，而仅 2025 年 1-9 月，新增投运容量就 高达 1.405GW ，全年有望创下行业纪录。 图：英国市场电池储能系统收入结（数据来源 : BloombergNEF, Aurora, Modo Energy, RaboResearch 2025 ） 在新的市场环境下，储能项目的盈利能力越来越多地取决于其捕捉市场价格信号、进行高效交易的能力。这使得系统时长、地理位置和运营商的交易策 略，成为决定项目成功与否的关键。 这一转变要求进入英国市场的储能企业必须具备更强的市场信号捕捉能力、灵活充放电技术，以及深度本地化运营经验。 要求高、门槛更高： 英国储能市场的"准入规则" 更值得关注的是，英国政府设定的 2030 年 23-27GW 电网级电池容量目标，意味着 未来五年市场将迎来近 5 倍的增长空间。 在" 2050 ...

摘要 隔膜两笔重组推进，正负极"收购+增资"密集落地 在锂电材料价格战与产能冗余拉长周期底部的背景下， A 股材料端今年的 " 扩张方式 " 正从新建产能更多转向并购整合与存量资产重排。 2025年12 月以来，隔膜环节两笔重组相继推进，正极与负极端也披露 " 收购 + 增资 " 或控股权收购方案；铜箔端则出现跨境并购与资产处置并 行的局面。 隔膜成为本轮并购最集中的环节之一。恩捷股份在2025年 11 月 30 日公告筹划以发行股份方式购买青岛中科华联 100% 股权并募集配套资金， 并于2025年 12 月中旬披露预案后复牌。 中科华联主营湿法隔膜等高端薄膜材料相关的成套生产装备研发制造，具备提供整线解决方案的能力。 另一边，诺德股份披露拟以 7000 万元出售全资子公司江苏联鑫 70% 股权，以优化资产结构。 同期，佛塑科技披露其发行股份及支付现金购买资产并募集配套资金暨关联交易事项，已获深交所并购重组审核委员会审核通过。 按公开报道口径，该交易拟收购金力股份 100% 股权、对价约 50.8 亿元。 正极端也出现并表式动作。 容百科技2015年 12 月 12 日公告称，拟以自有资金 3.42 亿元收 ...

欧洲市场新能源需求与合作机会，究竟几何？ 中欧纪念建交 50 周年之际，双方在新能源领域的互动格局，成为全球关注的焦点。 一方面，欧盟委员会主席冯德莱恩曾乐观表示，双方就解决欧洲企业关切的关键原材料出口问题达 成了 " 升级版的出口供应机制 " 。 另一方面，深刻的技术变革、激烈的地缘经济竞争和日益分裂的市场格局交织在一起，而新能源汽 车，正是这场风暴的中心。 这场产业变迁并非在真空中发生，其背后是复杂的地缘政治力量在拉扯。一个值得关注的现象是， 外界曾有分析认为，美国总统特朗普可能带来的跨大西洋关系紧张，会为中欧走近提供窗口。 然而，现实是中欧关系并未因此升温，反而因在 部分 议题上的分歧而增添了新的变数。 同时，中美之间的关税壁垒所带来的 " 贸易转移 " 效应，也让欧洲愈发感受到中国产能的直接压 力。欧洲并非中国企业出海时可以掉以轻心的 " 避风港 " ，它自身的战略考量和复杂的外部环 境，决定了这场互动的艰巨性。 去年上半年，欧盟委员会决定对从中国进口的纯电动汽车加征临时反补贴关税， 传递出一个信 号： 欧洲正在为保护其引以为傲的汽车工业筑起高墙。 欧盟的 担忧清晰而具体：来自中国的、受补贴的低价产品 ...

摘要 算力、模型、数据齐上阵 2026年1月7日，工业和信息化部、中央网信办、国家发展改革委、教育部、商务部、国务院国资 委、市场监管总局、国家数据局等八部门联合印发《"人工智能+制造"专项行动实施意见》，这 是"十五五"时期推动人工智能与制造业深度融合的纲领性文件。 发布以后，"AI进工厂"有了可验收的时间表与交付物： 到2027年，推动3—5个通用大模型在制造业深度应用，推出1000个高水平工业智能体，打造 100个工业领域高质量数据集，并推广500个典型应用场景，同时培育2—3家生态主导型企业、选 树1000家标杆企业。 从"上系统"到"交付工业智能体" 与此前更多强调"智能工厂""数字化改造"的表述不同，《实施意见》把抓手进一步落到"算力—模 型—数据—场景"四件套上： 一方面提出强化算力供给，支持训练芯片、端侧推理芯片、AI服务器、高速互联、智算云操作系统 等关键技术，并推动大模型一体机、边缘计算服务器、工业云算力部署； 另一方面提出培育重点行业大模型、发展"云—边—端"模型体系，推动模型轻量化部署，加快在 工业场景落地。 文件提出的大模型要"深度嵌入生产制造核心环节"，并点名排产调度、工艺优化、预 ...

同日发生的一件事，为这套路线提供了一个工程侧样本。 中汽新能当天发布并宣布完成高比能固液混合富锂锰基电池系统的全国首发装车。 该系统由中汽新能研发技术中心联合南开大学等科研团队开发，富理公司提供高容量富锂锰基正极材料作为关键材料之一。中汽新能披露的指标包 括： 宁波富理揭开锂电"无人区"面纱 2026年2月6日， 宁波富理电池材料科技有限公司在宁波举行新一代动力锂电池材料技术论坛，并在十周年节点集中披露其富锂锰基正极与硅碳负 极两条高比能关键材料路线的产业化进展 ： 包括面向万吨级扩产的推进节奏、千吨级示范线的运行情况，以及与国家石墨烯创新中心合作的石墨烯复合硅碳负极 中试/ 产线进度与产品方向。 富理公司在论坛上披露的路线图指向一个更具体的判断： 在高比能电池从"实验室指标"走向"工程可复制"的阶段，材料端的价值不再停留在单点性能，而是能否提供稳定批量供货、可控一致性窗口以及与 体系协同的工程解法。 电芯能量密度达到500Wh/kg级，电池系统能量密度288Wh/kg，整包电量142kWh，装车后续航里程超过1000公里。 这组数据之所以被产业链高度关注，并不只因为"首发装车"本身，而在于它把富锂锰基路线再 ...

摘要 打响独立储能大规模投资"发令枪"。 2026年独立储能大规模投资的"发令枪"已经打响。 1月30日，国家发展改革委、国家能源局发布《关于完善发电侧容量电价机制的通知》（发改价格〔2026〕114号，以下简称"114号文"），正式将 电网侧独立储能纳入发电侧容量电价机制。 这是首次从国家电价机制层面认可了储能的容量价值，这也意味着，独立储能电站成为收益稳定的电力资产，在经济性方面有了重大突破。 独立储能收益确定性显著提升，与此同时，独立储能资产证券化，也迎来巨大突破。 近期， 上交所受理了首单独立储能ABS ，对独立储能来说，这是一个非常关键的信号，标志着独立储能开始被市场视为可增值、可定价、可交易的 优质资产。 高工储能在《储能资产化：运营还不是终点，交易退出是真正的价值闭环》这篇文章中提出，储能电站要实现资产化，才算打通完整的投资回报闭 环，才能打通储能规模化发展的"最后一公里"。 但资产化的前提是，这个储能资产必须是收益不错的优质资产。 电网侧独立储能有了容量电价进行收益"兜底"，资产化就有了"底气"。 高工储能判断， 容量电价+资产化双轮驱动，前者夯实收益根基，后者打通资金通道，2026年独立储能 ...

Core Viewpoint - The Chinese anode materials industry is expected to maintain high growth, with projected shipments exceeding 3.7 million tons in 2026, representing a year-on-year increase of over 28% [3][5]. Group 1: Industry Overview - In 2025, the anode materials industry in China is projected to continue its high growth trend, with total shipments reaching 2.9 million tons, a year-on-year increase of 39% [4]. - The industry landscape is significantly differentiated, with leading companies experiencing robust production and sales, while small and medium enterprises often engage in contract manufacturing, with some leading firms having over 30% of their production outsourced [4]. Group 2: Shipment Structure - In 2025, artificial graphite will dominate the market, with shipments reaching 2.67 million tons, a year-on-year increase of 49%, accounting for 92.7% of total anode material shipments [8]. - Natural graphite is expected to continue its decline, with shipments of 210,000 tons, a year-on-year decrease of 18.8%, representing less than 8% of the market share [8]. Group 3: Emerging Trends - Silicon-based composite materials are anticipated to be a growth highlight, with shipments expected to increase by over 65% in 2025, including over 2,000 tons of new silicon-carbon pure powder [10]. - The application of silicon-based composite materials has expanded in the digital sector, while the power sector is still in the verification phase due to material consistency issues [10]. Group 4: Technical Iteration - The technical iteration of anode materials in 2025 will closely align with downstream battery product demands, with differentiated upgrades in energy storage and power sectors [12]. - In the energy storage sector, artificial graphite's performance metrics are expected to improve, with specific capacity advancing from 350 mAh/g to 353-355 mAh/g, and bulk density increasing from 1.6 g/cm³ to 1.65 g/cm³ [12]. Group 5: Future Development Trends - The supply of petroleum coke with low sulfur content is expected to tighten, leading to a price increase for anode materials, with an anticipated price rise of 10-20% [15]. - High-rate products are projected to become mainstream, with over 50% penetration of ≥4C artificial graphite in power lithium batteries [15]. - New silicon-carbon shipments are expected to double year-on-year, with potential for mass application in the power sector [15]. - Leading anode companies are expected to operate at full capacity, necessitating large-scale outsourcing, while smaller firms may seek direct supply relationships with battery manufacturers to enhance customer loyalty [15].

Core Viewpoint - The article discusses the potential of Xingyuan Material's IPO in Hong Kong as a stepping stone for its growth, focusing on solid-state battery technology and overseas expansion strategies [2][21]. Group 1: Company Overview - Xingyuan Material, a leading separator manufacturer for lithium batteries, has submitted a new IPO application to the Hong Kong Stock Exchange after its previous application expired [2]. - The company ranks second in China's battery separator market by shipment volume for 2024, with dry-process separators holding the top global position and wet-process separators ranked second [2][4]. Group 2: Financial Performance - The company's revenue for 2023 and 2024 is projected to be 2.982 billion yuan and 3.506 billion yuan, respectively, reflecting year-on-year growth of 4.62% and 17.52%. However, net profit is expected to decline to 576 million yuan and 364 million yuan, down 19.87% and 36.87% [5]. - The gross margin for the separator business has decreased from 30% in the first three quarters of 2024 to 21.3% in the same period of 2025, a drop of 8.7 percentage points, attributed to increased market competition [6]. Group 3: Market Dynamics - The battery separator industry in China is expected to grow at a compound annual growth rate (CAGR) of 63.8% from 2022 to 2024, outpacing the shipment growth of 35.8%, leading to oversupply and downward pressure on prices [6]. - Xingyuan Material's competitive advantage lies in its diverse customer base and its ability to maintain profitability despite industry challenges, unlike its main competitor, Enjie, which has reported losses [7][8]. Group 4: Overseas Expansion - The company plans to allocate 60% of its IPO proceeds to support overseas production capacity, with factories established in Malaysia, Sweden, and the United States, targeting a total planned capacity of over 2 billion square meters by 2026-2027 [4][9]. - The demand for energy storage batteries is expected to surge, with China's energy storage lithium battery shipments projected to reach 630 GWh in 2025, a year-on-year increase of 85% [11]. Group 5: Technological Advancements - Xingyuan Material is focusing on the development of solid-state electrolyte membranes, with plans to launch products in the second half of 2026, aligning with industry trends towards solid-state battery production [19][20]. - The company has completed pilot testing for solid-state battery separators and is conducting scale-up trials, aiming for integration with existing production processes [20]. Group 6: Strategic Positioning - The article emphasizes the importance of Xingyuan Material's IPO as a means to leverage international capital for expanding production capacity and advancing new technologies, positioning the company for future growth in a competitive market [21][22].

Core Viewpoint - The article discusses the strategic moves of Enjie Co., Ltd. in the solid-state battery sector, highlighting its partnerships and developments in high-performance electrolyte membranes and solid electrolyte materials [2][3]. Group 1: Strategic Partnerships - Enjie has signed a strategic cooperation agreement with Enli Power to jointly develop high-performance electrolyte membranes suitable for solid-state batteries, establishing a collaborative mechanism for process synergy and product application [2]. - A subsequent agreement with Guoxuan High-Tech focuses on technical collaboration for key materials like membranes and solid electrolytes, aiming to advance applications such as zero-carbon factories and intelligent mobile energy storage charging stations [2][3]. Group 2: Material Development - Enjie is extending its focus beyond membranes to include key materials in the sulfide system for solid-state batteries, with plans for high-purity lithium sulfide and solid electrolyte membranes [4]. - The company has initiated batch shipments from its pilot line for high-purity lithium sulfide and is constructing a pilot project for solid electrolytes with a target capacity of thousands of tons [4]. Group 3: Order and Supply Framework - Enjie has established a procurement framework agreement with Beijing Weilan New Energy, expecting orders for at least 300 million square meters of semi-solid and solid-state battery electrolyte membranes and a minimum of 100 tons of solid-state battery electrolytes from 2025 to 2030 [5]. - The framework supply agreement indicates a strategy to leverage traditional manufacturing advantages in the new solid-state material landscape, enhancing bargaining power and entry barriers in the solid-state supply chain [5].