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].

Core Viewpoint - The article emphasizes the critical role of sodium batteries in the future of electric vehicles, particularly in cold climates, and highlights the collaboration between CATL and Changan Automobile to validate sodium battery performance in extreme conditions [3][4][5]. Group 1: Market Trends and Projections - By 2025, the penetration rate of new energy vehicles in China's total auto sales is expected to exceed 50%, reaching 50.8%, with some months last year seeing nearly 60% penetration [3]. - CATL's sodium batteries are positioned as essential for the second half of the electrification process, particularly in northern markets where low-temperature performance is crucial [4][5]. Group 2: Product Development and Performance - CATL has developed various sodium battery products, including those for heavy-duty trucks and passenger vehicles, showcasing significant performance improvements in low-temperature conditions [7][9]. - In tests, sodium batteries demonstrated nearly three times the discharge power compared to conventional lithium iron phosphate models at -30°C, with over 90% capacity retention at -40°C [4][9]. Group 3: Commercialization and Strategic Partnerships - CATL has been actively delivering sodium battery products and has a clear commercialization strategy, moving from commercial vehicles to passenger cars and conducting winter tests to validate performance [5][6]. - The collaboration with Changan Automobile aims to produce models with over 400 km range, with future upgrades targeting 500 km to 600 km [10]. Group 4: Supply Chain and Industry Impact - The entry of CATL into the sodium battery market is expected to drive significant changes in the supply chain, leveraging similarities between lithium and sodium supply systems [13][14]. - CATL's partnership with Rongbai Technology for sodium battery materials is set to expand production capacity significantly, with a projected 101% year-on-year increase in sodium battery cathode material production by 2025 [15][16]. Group 5: Future Applications and Market Expansion - CATL plans to apply sodium batteries extensively in the energy storage sector by 2026, aligning with market reforms that enhance investment returns in storage solutions [17][18]. - The introduction of a new capacity pricing mechanism for independent storage stations is expected to reduce investment uncertainties in sodium battery storage [18]. Group 6: Technological Innovations - CATL has introduced the "sodium-iron" dual-core battery, combining sodium and lithium technologies, which offers a total energy capacity of 75 kWh and a range of 700 km [19].

Core Viewpoint - The competition among lithium battery companies in the two-wheeler market is focusing on product upgrades and channel restructuring as they adapt to the new national standards for electric bicycles [3][4]. Product Upgrades - The introduction of the new national standards has led to a significant decline in lithium battery applications, with lead-acid battery usage surging by 13.4% in Q3 and over 90% in Q4 [3]. - Both lead-acid and lithium battery companies are launching higher capacity and lighter batteries, targeting consumer demands for power, fast charging, and safety [3][4]. - The safety upgrades for lithium batteries include the implementation of Battery Management Systems (BMS) and reduced plastic usage, enhancing overall safety and performance [6][9]. - New lithium battery products are generally offering capacities of 24Ah, 30Ah, or more, significantly improving the range of electric bicycles to meet consumer commuting needs [10][11]. Channel Restructuring - Major lithium battery companies like BYD and Guoxuan High-Tech are actively establishing direct sales stores and online channels to counter traditional dealer monopolies [5][12]. - As of now, 31 companies in the electric bicycle industry have obtained 748 new national standard CCC certificates, with over 276 new models available for consumers [5]. - The establishment of direct sales and authorized stores allows battery companies to maintain control over product sales and improve after-sales service, which is crucial for consumer trust and battery recycling [14].

Core Viewpoint - The article discusses the increasing strategic importance of lithium resources amid intensifying competition in the new energy industry, highlighting recent mergers and acquisitions in the lithium mining sector as companies seek to secure control over critical mineral assets [3][5][17]. Group 1: Company Actions - Tianqi Lithium announced plans to dispose of shares in certain subsidiaries and is pursuing a combination of H-share placement and convertible bond financing, aiming to raise approximately 58.6 billion HKD (around 52 billion RMB) [4][6]. - The company intends to use the funds for project development, acquisition of quality lithium assets, and general corporate purposes, while maintaining a low debt ratio of about 30.5% as of Q3 2025 [8][9]. - Shengxin Lithium plans to acquire the remaining 13.93% stake in Huirong Mining for 1.2597 billion RMB, achieving 100% ownership, which is seen as a strategic move to consolidate control over the Muli lithium mine [11][12]. Group 2: Market Dynamics - The recent actions by Tianqi and Shengxin reflect a broader trend of companies prioritizing resource control over short-term price fluctuations, especially in a low-price environment [14][19]. - The U.S. has initiated the Project Vault critical mineral reserve plan, with a funding structure of 10 billion USD plus 2 billion USD in private equity, aimed at stabilizing supply and price expectations for critical minerals like lithium [17][18]. - The geopolitical tensions are pushing critical minerals from market discussions into national strategic considerations, potentially altering corporate strategies regarding resource acquisition timing [18]. Group 3: Valuation and Future Outlook - The acquisition of Huirong Mining is significant, with the assessed value of the company showing a substantial increase, indicating a 791.31% appreciation in asset value [11]. - The market is closely watching Tianqi's financing and potential acquisition targets as indicators of future capital expenditures and consolidation in the lithium sector [19].

Core Viewpoint - The article highlights significant advancements in dry electrode technology, indicating a shift towards mass production capabilities and international recognition within the industry [2][5][6]. Group 1: Equipment Advancements - Leading equipment manufacturers have introduced a "new generation mass production solution" for dry electrodes, focusing on the critical "fiberization" process that affects yield and consistency [2]. - The new solution from Xiandai Intelligent claims to enhance fiberization efficiency by over 50% compared to traditional high-mixing equipment, emphasizing continuous, stable, and controllable processes [2]. - The solution supports a product width of 1000mm and can meet single-line production capacity demands of 5-8 GWh, with thickness ranging from 40-400μm [3]. Group 2: Performance Metrics - Under high-speed conditions of 100m/min, the new solution maintains a coating thickness control of ±2μm, density uniformity of ±1.5%, and roller gap precision of ±1μm [3]. - Upgrades in cutting technology and online adaptive control systems have been implemented to enhance high-speed cutting consistency [3][4]. Group 3: Market Recognition and Orders - Qingyan Nako has successfully delivered dry electrode equipment to leading Japanese automotive companies, marking a significant recognition from international clients [5]. - Macro Technology announced that its joint venture with Qingyan Electronics has secured orders for automation solutions in the dry electrode front-end process from major clients [6]. - The industry is transitioning from feasibility demonstrations to concrete mass production metrics, international client engagement, and order signals [6].