Core Viewpoint - The lithium battery industry is experiencing significant price increases and supply chain adjustments due to rising raw material costs and strong demand, particularly in the energy storage and electric vehicle sectors [3][4][5]. Industry Trends - Dejia Energy announced a 15% price increase for its battery products starting December 16 due to rising production costs from upstream raw materials [3]. - Contemporary Amperex Technology Co., Ltd. (CATL) and other leading companies are securing long-term agreements to lock in upstream capacity and supply chains, emphasizing the importance of capacity acquisition for future growth [3][4]. - The lithium battery supply chain is currently characterized by a "full production and sales" state, with companies like Penghui Energy and Tianji Co. reporting strong demand and rising prices for their products [4]. Market Demand - Global power battery installation reached 811.7 GWh in the first three quarters of this year, a 34.7% increase from the previous year, while the energy storage market saw a 90.7% year-on-year growth [5]. - The rapid growth in renewable energy installations and the expansion of AI data centers are driving increased demand for energy storage solutions [5]. Long-term Contracts - The industry is witnessing a surge in long-term contracts, with significant agreements such as a 10-year strategic partnership between Haibosi and CATL for a minimum of 200 GWh of procurement [6]. - Other notable contracts include a collaboration between Hicharge Energy and CRRC Zhuzhou Electric Locomotive Research Institute for at least 120 GWh of energy storage products [6]. Price Dynamics - The price of battery-grade lithium carbonate has surged to 92,750 RMB per ton, a 23% increase from the previous month, while the price of lithium hexafluorophosphate has exceeded 180,000 RMB per ton [4]. - The tight supply and high demand have led to longer delivery times, with some companies reporting that delivery schedules extend into the first half of next year [4]. Technological Advancements - The industry is undergoing a "quality upgrade" driven by technological advancements, with companies like CATL launching fifth-generation lithium iron phosphate batteries that improve energy density and cycle life [9][10]. - High-density lithium iron phosphate products are becoming a focus, with expectations that their market share will increase significantly by 2026 [9]. Capacity Expansion - Companies are accelerating capacity expansion to meet growing demand, with Fulin Precision Engineering planning to invest 4 billion RMB to build a new production line for lithium iron phosphate [8]. - Dragon Power Technology is also raising funds to expand production capacity in response to customer needs [8]. Globalization Efforts - Leading companies are pursuing global expansion strategies, with firms like Hunan YN planning production capacity in Spain and Dragon Power Technology nearing full production at its Indonesian facility [10]. - The industry is shifting from scale competition to value competition, aiming for high-quality development as new products are launched and recycling systems are improved [10].

作者|深水财经社 冰火 从连续巨亏到全球动力电池前三，刚刚拿下苏澳传感（300507）控制权的常州公司中创新航（03931.HK）与上游原材料供 应商签了一个超级大单。 据公司公告，其与诺德股份（维权）（600110.SH）达成三年37.3万吨铜箔供货协议，按目前市价算高达近400亿元，一场 由"锂电铁娘子"刘静瑜导演的行业突围正加速上演。 近日，动力电池巨头中创新航与铜箔材料龙头诺德股份400亿元的合作大单震撼行业，看来中创新航在储能赛道要大干一 场。 12月1日，诺德股份微信公众号披露，其全资孙公司百嘉达与中创新航签署2026-2028年铜箔供货协议，三年合计供应量达 37.3万吨。以当前10.6万元/吨的市场均价测算，这份订单总值约400亿元。 上述这个供货交易是由诺德股份通过其公众号发布的，但是两家上市公司均没有对此事发布正式公告。 根据这些供货量是分为三个年度，其呈逐年攀升，分别为5.8万吨、13万吨和18.5万吨，而截至目前，诺德股份年产能最高 也只有14万吨，其中2028年订单量更是达到现有产能的132%。 据媒体报道，诺德已规划2030年全球总产能扩至30万吨/年，覆盖锂电及高端电子电路铜箔领 ...

Investment Rating - The report maintains an "Outperform" rating for the electric equipment and new energy industry [1]. Core Insights - The sales of new energy vehicles are expected to continue growing, with a projected 20% year-on-year increase in domestic sales by 2025, driving demand for batteries and materials [1]. - The Ministry of Industry and Information Technology is promoting a "de-involution" strategy in the battery industry, which is anticipated to restore profitability across the supply chain [1]. - Solid-state battery industrialization is progressing, with a focus on related materials and equipment companies [1]. - In the photovoltaic sector, the "de-involution" strategy is seen as a key investment theme, although terminal demand is currently weak, leading to price fluctuations in the supply chain [1]. - The wind power sector is expected to see sustained growth, with government support for new projects [1]. - The energy storage market remains robust, with rising prices in upstream materials affecting downstream integration [1]. - Hydrogen energy is anticipated to open up demand for green hydrogen, with a focus on downstream applications [1]. - Nuclear fusion is viewed as a long-term energy development direction, with recommendations to focus on core suppliers in this area [1]. Summary by Sections New Energy Vehicles - The fourth quarter is a peak sales season, with a forecast of 1.72 million new energy vehicles sold in November 2025, a 20% year-on-year increase [2]. - Cumulative wholesale figures for the year show a 29% increase, totaling 13.78 million vehicles [2]. Battery Industry - The planned production for December 2025 is 148.84 GWh, reflecting a 2.27% month-on-month increase [2]. Photovoltaic and Wind Power - The utilization rates for wind and photovoltaic power are projected at 96.4% and 94.8% respectively for October 2025 [2]. - The announcement of new brands for polysilicon futures is expected to have limited impact on the supply landscape [1]. Energy Storage - By November 2025, 10 GW/29.7 GWh of energy storage systems have been tendered, with independent storage projects making up 90% of this [2]. - The demand for energy storage remains high, with upstream material price increases pushing up costs in downstream integration [1]. Hydrogen Energy - The National Energy Administration has announced pilot projects for hydrogen energy, indicating a growing focus on this sector [2]. Market Trends - The electric equipment and new energy sector saw a slight increase of 0.22% this week, with wind power leading the gains at 3.48% [10]. - The lithium battery index experienced a decline of 3.53%, indicating market volatility [13]. Price Observations - The price of lithium carbonate remains high, with battery-grade prices around 91,000 RMB per ton, reflecting a 2.6% increase [25]. - Energy storage cell prices are stable, with square lithium iron phosphate cells priced between 0.270-0.420 RMB per watt-hour [26].

会议时间：2026年3月19-20日 会议地点：江苏·常州 会议咨询： 13248122922(微信同） 同时，公司自研的先进高真空蒸发镀膜设备为复合铝箔的高品质制造提供了核心装备支撑。 随着电池性能要求不断提升，诺德股份进一步推出多孔复合铝箔，面向下一代电池技术需求进行前瞻布 局。该产品在固态电池体系中表现出优良的适配性，目前已获得多家终端客户认可，为电池前沿技术迭 代提供材料基础。 鑫椤会议： 会议主办：鑫椤资讯 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源：企业官微 近日， 诺德股份复合铝箔产品完成首批海外订单交付，并推出多孔复合铝箔新品， 面向固态电池等下 一代技术应用，进一步拓宽产品矩阵。 为加速推进新能源材料技术迭代与全球化布局，诺德股份自主研发的复合铝箔产品近日成功完成首批海 外订单交付，标志着产品性能获国际市场认可，并正式步入规模化量产阶段，为公司进军全球高端电池 材料市场奠定坚实基础。 鑫椤报告预售： 2025-2029年中国三元材料运行趋势及竞争策略研究报告 2025-2029年中国磷酸铁锂运行趋势及竞争策略研究报告 2025-202 ...

高位延续强势，铜市场能否也上演逼仓剧情？ 一、日度市场总结 铜期货市场数据变动分析 主力合约与基差 ：12月03日SHFE主力合约价格小幅走高至88970元/吨，较 前一日上涨260元；基差走强，现货升水扩大至180元/吨，LME(0-3)升贴水 维持在69.18美元/吨附近。 持仓与成交 ：LME铜持仓量收缩，12月02日减少1137手至333305手；市场 成交量清淡，终端采购以刚需为主，观望情绪较浓。 产业链供需及库存变化分析 供给端 ：LME库存12月03日降至28969吨，环比减少5.23%，反映短期供给 偏紧；进口铜到货减少，叠加诺德股份铜箔产能扩张计划可能增加长期供 给；覆铜板涨价显示原材料成本压力上升。 需求端 ：汽车领域需求强劲，诺德股份12月03日获得中创新航37.3万吨铜 箔订单；但高铜价抑制下游采购，再生铜杆市场成交清淡，精废价差扩大 至4182.23元/吨，终端线缆企业观望情绪浓。 库存端 ：SMM全国主流地区铜库存12月01日环比减少1.45万吨至15.9万 吨，因到货减少和出库良好；SHFE库存微增至162150吨；预期未来小幅累 库。 价格走势判断 铜期货价格预计高位震荡，驱动 ...

诺德股份已服务全球200余家客户， 包括宁德时代、比亚迪、中创新航、LG新能源、SK On等国内外大型锂电企业。 产能方面 ，诺德股份现有铜箔年产能达14万吨；出海产能布局3万吨/年（欧洲）；公司规划至2030年，全球总产能规模 实现年产30万吨，涵盖各类锂电铜箔和高端电子电路铜箔。 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 本文来源：鑫椤锂电整理 近日，诺德股份全资孙公司深圳百嘉达新能源材料有限公司（以下简称"百嘉达"）与中创新航科技集团股份有限公司（以 下简称"中创新航"）签订了《2026-2028年保供框架协议》。 基于双方长期稳定的战略合作，为保证百嘉达铜箔产品的 供应稳定， 百嘉达承诺2026-2028年向中创新航供应铜箔产品37.3万吨。 根据协议，百嘉达承诺2026 -2028年按下表计划向中创新航交付铜箔产品，并按承诺的供应量准备好人、机、料等资 源，若遇产能紧张情况，百嘉达将优先保障中创新航的供应需求。 | 年份 | 2026年 | 2027年 | 2028年 | | --- | --- | --- | --- | | 保供量(万吨) | 5 ...

Core Viewpoint - The article discusses the upcoming 2025 Lithium Battery Industry Annual Conference and the significant developments in the lithium battery copper foil market, highlighting the recovery and growth of the industry after a period of losses. Group 1: Event Details - The 2025 Lithium Battery Industry Annual Conference will be held on December 18-19, 2025, at the Venus Royal Hotel in Shenzhen, with over 1,200 offline participants and 30,000 online viewers expected [2]. - The event celebrates the 10th anniversary of Qidian Research and includes various forums and award ceremonies related to lithium batteries and energy storage [2]. Group 2: Industry Developments - The lithium battery copper foil industry has seen a significant recovery, with companies like Nord Co. reporting a surge in orders and a shift from losses to profitability [3][6]. - Nord Co. has secured long-term supply agreements with major players, including a contract with Gotion High-Tech for 15,000 tons of copper foil over five years, and a framework agreement with Ningde Times for 62.6 million tons over three years [3][6]. - The total orders secured by Nord Co. amount to 628,000 tons, with an estimated total contract value exceeding 66 billion yuan, indicating a strong market demand [6]. Group 3: Financial Performance - Despite a 29.21% year-on-year increase in revenue to 4.793 billion yuan, Nord Co. reported a net loss of approximately 93.74 million yuan for the first three quarters of 2025 [6][7]. - The company has significantly reduced its net loss by 123 million yuan compared to the previous year, suggesting a positive trend in financial recovery [7]. Group 4: Future Outlook - Nord Co. plans to expand its annual production capacity to 300,000 tons by 2030, focusing on ultra-thin, high-performance copper foils [8]. - The company has developed a complete product line for copper foils ranging from 3 to 6 microns and is actively pursuing technological advancements in solid-state battery materials [8][9].

Core Insights - Nord Holdings' wholly-owned subsidiary, Baijiada, has signed a copper foil supply agreement with Zhongchuang Xinhang for the years 2026 to 2028, with a total supply volume of 373,000 tons, valued at nearly 40 billion yuan based on current mainstream tax-inclusive prices [2] Supply Agreement Details - The annual supply volumes are set at 58,000 tons, 130,000 tons, and 185,000 tons for the respective years, which represent 41%, 93%, and 132% of Nord's current annual production capacity of 140,000 tons [2] - The scale of the order exceeds the company's current peak production capacity [2] Future Capacity Plans - Nord has planned to expand its global total production capacity to 300,000 tons per year by 2030, covering the fields of lithium batteries and high-end electronic circuit copper foil [2]

近日诺德股份全资孙公司百嘉达与中创新航签订了2026-2028年铜箔供货协议，三年合计供应量达37.3 万吨，按当前主流含税均价测算，订单产值近400亿元。分年度供货量为5.8万吨、13万吨、18.5万吨， 分别占诺德现有14万吨/年产能的41%、93%、132%，订单规模超公司当前产能峰值。诺德已规划2030 年全球总产能扩至30万吨/年，覆盖锂电及高端电子电路铜箔领域。 ...

Core Viewpoint - Nord Shares has signed a three-year supply agreement with Zhongchuang Xinhang to provide a total of 373,000 tons of lithium battery copper foil from 2026 to 2028, ensuring stable supply and production capacity utilization for both companies [1][4][5]. Supply Agreement Details - The agreement specifies that Nord's subsidiary, Shenzhen Baijiada New Energy Materials Co., Ltd., will supply 58,000 tons in 2026, 130,000 tons in 2027, and 185,000 tons in 2028, prioritizing Zhongchuang Xinhang's supply needs during capacity constraints [1][4][5]. - This agreement continues the partnership established in February 2025, where a supply of 45,000 tons of copper foil was successfully delivered [5]. Market Context - The price of copper has been on the rise, increasing from 73,000 yuan/ton at the beginning of 2025 to 86,000 yuan/ton currently, with expectations to exceed 90,000 yuan/ton in 2026 [2][5]. - Copper foil accounts for approximately 13% of the total cost of battery production [5]. Product Development and Innovation - Nord Shares is advancing the development of ultra-thin copper foil, with 4.5-micron copper foil reducing battery production costs by approximately 9.3 million yuan per GWh compared to 6-micron foil [2][5]. - The company has developed customized copper foil products for next-generation battery technologies, including nickel-plated alloy foil for solid-state batteries and silicon-carbon anodes [6]. Research and Development - Nord Shares has established a 120-member R&D team and has applied for over 200 patents in collaboration with domestic and international universities and industry experts [6]. - The company has implemented a comprehensive quality management system certified by IATF16949 [6]. Business Expansion - In 2025, Nord Shares continued to expand its business layout, including the establishment of a 400 million yuan energy storage industry fund focused on technology R&D and project implementation [3][6]. - The company currently has an annual copper foil production capacity of 140,000 tons, with plans to reach a global total capacity of 300,000 tons by 2030 [3][6].