格隆汇9月2日丨赣锋锂业(002460.SZ)在互动平台表示，公司固态电池研发进展顺利，已形成全链路布 局，覆盖硫化物电解质、氧化物电解质、金属锂负极等关键环节。能量密度达420Wh/kg，500Wh/kg样 品通过针刺及200℃热箱等安全测试，循环寿命突破800次。首款500Wh/kg级10Ah产品实现小批量量 产。 ...

Group 1 - Lithium stocks are experiencing weak performance, with Ganfeng Lithium down 3.91% at HKD 30.46 and Tianqi Lithium down 3.65% at HKD 38.52 [1] - Lithium carbonate futures have been fluctuating downwards, with the main contract dropping over 3% on September 2, currently priced at CNY 73,180 per ton [1] - Everbright Futures suggests that recent news factors have led to a rapid price decline, which has absorbed some of the gains from production disruptions, indicating a potential revaluation of mining permit expectations [1] Group 2 - Despite the price decline, lithium ore prices remain relatively firm due to potential supply-side disruptions and strong demand, suggesting limited downside potential and a wide range of price fluctuations [1] - Attention is drawn to September 30, when a report on a lithium mining project in Jiangxi must be completed and submitted, which may provide clarity on mining permit issues for other projects [1]

Group 1 - The company, Ganfeng Lithium, has made significant progress in the research and development of solid-state batteries, establishing a comprehensive layout that includes key components such as sulfide electrolytes, oxide electrolytes, and metallic lithium anodes [1] - The energy density of the solid-state batteries has reached 420Wh/kg, with samples achieving 500Wh/kg passing safety tests including puncture and 200℃ thermal box tests, and the cycle life has exceeded 800 times [1] - The first 500Wh/kg level 10Ah product has achieved small-scale production [1] Group 2 - Investors have shown interest in the company's solid-state battery development stage, noting that many manufacturers are preparing for mass production [3]

Group 1 - The company has begun trial production and mass production of solid-state batteries in certain vehicle models, and these batteries are also being used in products developed in collaboration with well-known drone and eVTOL companies [2] - The company has sent samples of its high-safety, low-temperature solid-state lithium batteries for validation to internationally recognized mobile phone manufacturers [2] - Current partners include automotive companies such as Dongfeng and Seres, as well as firms in the drone and mobile phone sectors [2] Group 2 - The company is promoting the application of high-energy solid-state batteries in new energy vehicles, consumer electronics, and energy storage, aiming to accelerate industrialization in consumer-level scenarios such as drones, exoskeletons, and portable energy storage [2] - The company is establishing penetration pathways for professional equipment, high-end consumer electronics, and mass consumer products [2]

Core Insights - The lithium mining industry is focusing on resource competition, particularly low-cost salt lake resources, with companies like Salt Lake Co. and Zangge Mining showing significant profit growth and market capitalization leadership [1] - The lithium price has experienced a "high open and low close" trend affecting performance, while salt lake lithium extraction maintains profitability due to its cost advantages [2] - The recent suspension of lithium production by CATL in Jiangxi has raised expectations for a contraction in lithium carbonate supply, leading to a surge in both futures and spot prices, exceeding 80,000 yuan per ton [2] Industry Trends - The lithium industry is currently in a phase of competing for low-cost salt lake resources, particularly in regions such as Qinghai and Tibet in China, as well as South America [2] - Despite some companies facing losses, the industry is expected to recover as the "anti-involution" trend takes hold in the lithium battery materials sector [2] - The production of lithium carbonate in China reached a new high in August, exceeding 85,000 tons, marking a 5% month-on-month increase and a 39% year-on-year increase [3] Company Performance - Salt Lake Co. and Zangge Mining have reported year-on-year profit growth, indicating a positive performance relative to their peers in the lithium sector [1] - The profitability of lithium miners is expected to improve as the price of lithium carbonate rises, which will positively impact their profit margins and supply responses [3] - Key Hong Kong-listed lithium companies include Tianqi Lithium (09696) and Ganfeng Lithium (01772) [4]

Core Insights - The report highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies as of September 1, 2025 [1][2][3]. Group 1: Increased Holdings - Aikang Medical (01789) saw the largest increase in holdings, up by 1.59%, bringing its total to 20.34% [1]. - Yimai Sunshine (02522) and Shanghai Fudan (01385) also experienced notable increases of 1.19% and 0.91%, with new holdings of 38.82% and 41.13% respectively [1]. - Other companies with significant increases include Jingtai Holdings (02228) and Fourth Paradigm (06682), both up by 0.86%, with holdings of 41.75% and 46.65% respectively [1]. Group 2: Decreased Holdings - Hang Seng China Enterprises (02828) experienced the largest decrease, down by 15.91%, now holding only 0.50% [2]. - Other notable decreases include the Tracker Fund of Hong Kong (02800) and Southern Hang Seng Technology (03033), which fell by 7.39% and 2.67%, with holdings of 0.69% and 59.48% respectively [2]. - Companies like Huaxia Hang Seng Biotechnology (03069) and Yuzhou Group (01628) also saw reductions of 1.59% and 1.27%, with holdings of 13.93% and 2.06% respectively [2]. Group 3: Five-Day Changes - Over the last five trading days, Anjijia Food (02648) led with a 4.24% increase, reaching a holding of 16.87% [3]. - Other companies with significant five-day increases include Jinli Permanent Magnet (06680) and Ganfeng Lithium (01772), which rose by 3.94% and 3.34%, with holdings of 28.00% and 34.97% respectively [3]. - Companies like Jingtai Holdings (02228) and Times Angel (06699) also saw increases of 3.12% and 2.06%, with holdings of 41.75% and 23.15% respectively [3]. Group 4: Twenty-Day Changes - In the last twenty days, Anjijia Food (02648) had the highest increase at 14.45%, with a holding of 16.87% [4]. - Changfei Optical Fiber (06869) and Yimai Sunshine (02522) also saw significant increases of 8.06% and 7.96%, with holdings of 54.02% and 38.82% respectively [4]. - Other notable increases include Meizhong Jiahe (02453) and Jingtai Holdings (02228), which rose by 7.16% and 6.99%, with holdings of 37.60% and 41.75% respectively [4].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 江西贛鋒鋰業集團股份有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 002460 | 說明 | A股 (深圳證券交易所) | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,613,593,699 RMB | | 1 | RMB | | 1,613,593,699 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 1,613,593,699 RMB | | 1 | RMB | | 1,613,593,699 | | 2. 股份分 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 江西贛鋒鋰業集團股份有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 本月底法定/註冊股本總額： RMB 2,017,167,779 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 002460 | 說明 | | A股 (深圳證券交易所) | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,613,593,699 | | 0 | | 1,613,593,699 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底 ...

人民财讯9月1日电，企查查APP显示，近日，广东聚储中能新能源有限公司、崇阳县坤泰能源有限公司 成立，法定代表人分别为宋春阳、黄腾飞。企查查股权穿透显示，前者由赣锋锂业旗下恩能聚易储能 （深圳）科技有限公司全资持股，后者由赣锋锂业旗下湖北省锋能新能源科技有限公司等共同持股。 转自：证券时报 ...

Summary of Key Points from Conference Call Industry Overview - The conference call primarily discusses the lithium mining industry, focusing on supply disruptions and long-term reset costs related to lithium resources [1][3][12]. Core Insights and Arguments - **Supply Disruptions**: Eight lithium mines in Yichun, Jiangxi, are required to submit resource reports before the 930 deadline, potentially causing supply-side disturbances and affecting lithium resource tax rates [1][5]. - **Price Volatility**: The price of lithium carbonate futures is expected to fluctuate significantly in 2025 due to production halts or reductions in regions like Qinghai and Yichun, with prices potentially exceeding 90,000 yuan [1][8]. - **Market Surplus**: The lithium market is projected to experience surpluses of 190,000 tons and 215,000 tons of lithium carbonate equivalent (LCE) in 2025 and 2026, respectively, despite potential supply-side disturbances that could quickly shift the market to a tighter balance [1][12]. - **Valuation Methods**: Traditional PE valuation methods are deemed unstable for lithium mining companies due to price volatility; a reset cost approach is recommended for a more accurate long-term investment value assessment [1][13][14]. Company-Specific Insights - **Ganfeng Lithium**: Holds approximately 50 million tons of resources, with a mineral value of 56 billion yuan based on current lithium carbonate prices. The reset cost could reach 73 billion yuan, indicating potential undervaluation in the current market [1][14][16]. - **Companies to Watch**: Ganfeng Lithium, Tianqi Lithium, Zhongmin Resources, and Shengxin are highlighted for their stable resources and early investments in solid-state battery technology, indicating growth potential [1][17][18]. - **Zhongmin Resources**: Engaged in various minor metals and plans to start copper shipments in 2026, benefiting from low-cost advantages and increased demand in commercial aerospace [2][19]. - **Shengxin's Competitive Edge**: The company has expanded overseas through its smelting plant in Indonesia and has a leading position in ultra-thin and ultra-wide lithium belts, enhancing its competitiveness in the solid-state battery market [20]. Additional Important Points - **Tax Implications**: Lithium resource tax rates vary based on the classification and treatment of lithium, which can significantly impact company costs [7]. - **Future Price Trends**: The future trajectory of lithium carbonate prices will depend on supply-side changes post-930 deadline and overseas supply recovery [9][10]. - **Resonance of Supply Disturbances**: The importance of monitoring both domestic and international supply disturbances is emphasized, as they can significantly affect commodity prices [11]. This summary encapsulates the critical insights and data points discussed in the conference call, providing a comprehensive overview of the lithium mining industry and specific companies of interest.