接下来，起点锂电将从锂电池厂 / 材料厂 / 设备厂三大板块，为大家盘点一下今年上半年产业链整体出海情况。 01 首先来看锂电池环节 宁德时代 在项目方面，宁德时代的 匈牙利德布勒森超级工厂一期（ 34GWh ）预计 2025 年内投产，配套宝马、奔驰等车企，并规划电池回收体系 ，同时在 西班牙 规划了 50GWh 产能、 印尼 规划了 15GWh 产能 ， 分别会在 2026 年和 2027 年投产 。 业绩方面，今年上半年宁德时代境外业务营收为 612.08 亿元，占比为 34.22% 。境外业务营收同比增加 21.14% 。 订单方面，上半年宁德时代订单体量巨大，年初中标的阿联酋全球最大储能订单； 3 月与澳大利亚 Quinbrook 合作的电池储能项目规模达 到 3GW/24GWh ； 4 月，澳大利亚 Synergy 公司旗下的 Collie 500 MW/2000MWh 储能项目装机完毕，该项目同样由宁德时代操盘， 为其供货了 600 多套 EnerC Plus 储能系统产品； 7 月，宁德时代为 Lydian Energy 三个项目提供电池储能系统，总额 2.33 亿美元，规 模 550MW/1 ...

资料显示，深圳市联赢激光股份有限公司位于广东省深圳市福田区紫竹六道49号建安山海中心6B，成 立日期2005年9月22日，上市日期2020年6月22日，公司主营业务涉及从事精密激光焊接机及激光焊接自 动化成套设备的研发、生产、销售。主营业务收入构成为：激光焊接自动化成套设备59.01%，工作台 19.69%，其他13.61%，激光器及激光焊接机7.69%。 从基金十大重仓股角度 9月12日，联赢激光跌5.23%，截至发稿，报26.44元/股，成交3.05亿元，换手率3.32%，总市值90.25亿 元。 国联价值成长6个月持有混合A（009347）基金经理为梁勤之。 截至发稿，梁勤之累计任职时间318天，现任基金资产总规模3.53亿元，任职期间最佳基金回报 58.03%， 任职期间最差基金回报-2.99%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，国联基金旗下1只基金重仓联赢激光。国联价值成长6个月持有混合A（009347）二季度减持 ...

事件概述 2025 年上半年，公司产品主要的应用领域新能源动力电池及储能电池行业仍保持增长，行业头部公司 固定资产投资恢复增长，给设备行业带来增量市场；在固态电池新技术领域，公司凭借在动力电池领域 的技术实力和丰富经验，配合行业头部企业研发固态电池生产的设备，已为客户交付了包括激光焊接设 备在内的固态电池装配线。 非锂电业务持续突破，消费电子小钢壳电池焊接设备持续获得订单。 公司加大对非锂电行业的市场开拓力度，非锂电业务发展势头良好，尤其是消费电子行业，小钢壳电池 焊接设备持续获取国际头部客户订单，市场前景广阔。公司目前在手订单充足，产能利用率接近饱和， 产能扩大及业务结构持续优化为公司未来盈利能力提升提供了保证。 投资建议 公司是国内领先的精密激光焊接设备及自动化解决方案供应商，产品广泛应用于动力及储能电池、汽车 制造、消费电子、五金家电、光通讯、医疗器械等制造业领域。根据近三年《中国激光产业发展报 告》，公司2022-2024 年在激光焊接成套设备市占率分别为34%、30%和26%，保持行业领先地位。 2024 年受下游锂电行业投资放缓及市场竞争加剧等因素影响，公司营收有所下滑，2025 上半年重回增 长 ...

中信证券股份有限公司 关于深圳市联赢激光股份有限公司 2025 年半年度持续督导跟踪报告 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为深圳市 联赢激光股份有限公司（以下简称"联赢激光"或"公司"或"上市公司"）向 特定对象发行 A 股股票的保荐人。根据《证券发行上市保荐业务管理办法》《上 海证券交易所科创板股票上市规则》等相关规定，中信证券履行持续督导职责， 并出具本持续督导年度跟踪报告。 一、持续督导工作概述 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场 检查的工作要求。 2、保荐人已与公司签订保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 3、本持续督导期间，保荐人通过与公司的日常沟通、现场回访等方式开展 持续督导工作，并于 2025 年 8 月 19 日、2025 年 8 月 29 日对公司募集资金进行 了现场检查。 4、本持续督导期间，保荐人根据相关法规和规范性文件的要求履行持续督 导职责，具体内容包括： （1）查阅公司章程、三会议事规则等公司治理制度、三会会议材料； （2）查阅公司财务管理、会计核算和内部审计等内部控制制度； （ ...

Summary of Key Points from Conference Call Records Industry Overview - **High-end Equipment and AI PCB Market**: The AI PCB market is driven by key players such as Xinxin Microelectronics, Dazhu CNC, and Dongwei, which dominate the exposure machine, mechanical drilling, and pulse plating segments, respectively. Their capital expenditures are expected to account for over 80% of the AI PCB market in 2025, indicating strong stock performance and investment potential [1][3]. Core Insights and Arguments - **Domestic Substitution in PCB Equipment**: There is significant potential for domestic substitution in the PCB equipment sector. While Shenghong Technology relies heavily on imported equipment, companies like Dazhu CNC and Dongwei are positioned to capitalize on domestic alternatives. By the second half of 2025 to the first half of 2026, domestic substitutes for CO2 laser drilling machines and horizontal three-in-one plating are expected to emerge [1][5]. - **Apple's Investment in AI**: Apple plans to significantly increase its investment in generative AI and related machine learning technologies, committing an additional $100 billion, bringing total investments to $900 billion over four years. The upgrade of the mobile GPT-4 model to GPT-5 is also anticipated [1][10]. - **Apple's Hardware Innovations**: The years 2026 and 2027 are projected to be pivotal for Apple's hardware innovations, including the iPhone 17, which will support edge AI applications and introduce new cooling technologies. The launch of a foldable phone is expected in 2026, with sales projections of 10 million units in the first year, increasing to 25 million in 2027, benefiting related mechanical companies [1][11][13]. - **Lithium Battery Equipment Sector**: The lithium battery equipment industry is experiencing a domestic cyclical turning point, driven by ongoing overseas cycles and advancements in solid-state battery technology. Revenue and profit recovery is evident, with significant growth reported by leading companies [1][18]. Additional Important Insights - **Investment Opportunities in 3C Automation Equipment**: The 3C automation equipment market is heavily reliant on Apple's product innovation cycles. Despite a relatively stagnant performance in 2025, the upcoming product launches and AR device demand are expected to provide substantial growth opportunities [4][9][17]. - **Solid-State Battery Technology Impact**: The solid-state battery technology is catalyzing growth in the lithium battery equipment sector, with significant government subsidies and a projected release of equipment flexibility between 2026 and 2027 [19][20]. - **Military Sector Trends**: The military sector is expected to continue its upward trend post-adjustment, with a focus on new types of equipment that enhance systemic confrontation, unmanned capabilities, and strategic deterrence. Key areas of investment include drones, laser weapons, and commercial aerospace [4][26][30]. - **Emerging Investment Recommendations**: Investors are advised to focus on leading companies in the lithium battery equipment sector, such as Xian Dao Intelligent and Hangke Technology, which are well-positioned for growth due to their strong financial performance and market positioning [23][24][25]. This summary encapsulates the critical insights and trends from the conference call records, highlighting the potential investment opportunities and risks within the high-end equipment, AI PCB, 3C automation, lithium battery, and military sectors.

Market Performance - The automation equipment sector rose by 3.45% on September 5, with Lianying Laser leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Top Gainers in Automation Equipment Sector - Lianying Laser (688518) closed at 26.20, up 13.52% with a trading volume of 310,400 shares and a transaction value of 780 million [1] - Shitianxia (688559) closed at 41.35, up 13.29% with a trading volume of 359,100 shares and a transaction value of 1.437 billion [1] - Delong Laser (688170) closed at 39.62, up 12.62% with a trading volume of 77,300 shares and a transaction value of 296 million [1] Fund Flow Analysis - The automation equipment sector saw a net inflow of 120 million from institutional investors, while retail investors contributed a net inflow of 322 million [2] - The sector experienced a net outflow of 442 million from speculative funds [2] Individual Stock Fund Flow - Huagong Technology (000988) had a net inflow of 301 million from institutional investors, while it faced a net outflow of 142 million from speculative funds [3] - Dongjie Intelligent (300486) saw a net inflow of 67.73 million from institutional investors, but a net outflow of 48.91 million from speculative funds [3] - Robotech (300757) had a net inflow of 66.72 million from institutional investors, with a net inflow of 41.57 million from speculative funds [3]

Group 1 - East China CNC and Qinchuan Machine Tool both hit the daily limit up, indicating strong market interest and positive sentiment towards these companies [1] - Other companies such as Lianying Laser, Yizhiming, Rifa Precision Machinery, Haitian Precision, Huazhong CNC, and Shandong Weida also experienced significant gains, reflecting a broader trend in the industry [1]

Group 1 - The core point of the news is that Lianying Laser (688518) has seen a net financing buy of 324.43 million yuan on September 1, 2025, with a financing balance of 2.88 billion yuan, indicating a positive trend in investor sentiment [1][4]. - Over the past three trading days, Lianying Laser has accumulated a total net buy of 3,048.46 million yuan, with 12 out of the last 20 trading days showing net financing purchases [1][4]. - The financing balance increased by 1.16% on September 1, 2025, compared to the previous day, reflecting a growing interest in the stock [4]. Group 2 - On the same day, the company experienced a short selling of 2,699 shares, with a total short selling balance of 4.04 million shares [3]. - The total margin trading balance reached 2.89 billion yuan, which is an increase of 333.09 million yuan from the previous day [4]. - The financing net buy on August 29, 2025, was particularly high at 15,801.2 million yuan, indicating fluctuating investor activity [2].

证券代码：688518 证券简称：联赢激光 公告编号：2025-023 深圳市联赢激光股份有限公司 董事、高管减持股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律 责任。 重要内容提示： 减持价格区间 22.16～22.62元/股 上述股份，其中董事、副总经理李毅持有的 200,000 股为股权激励取得， 权激励取得，3,198 股为集中竞价交易取得；副总经理秦磊持有的 200,000 股为 股权激励取得；其余均来源于公司首次公开发行前持有的股份，且已于 2021 年 ? 减持计划的实施结果情况 减持股份计划公告》（公告编号：2025-020），公司董事、副总经理李毅、卢国 杰及副总经理秦磊计划通过集中竞价交易方式减持所持有的公司股份。李毅拟减 持数量不超过 160,400 股，占公司总股本的比例不超过 0.0470%；卢国杰拟减持 数量不超过 62,900 股，占公司总股本的比例不超过 0.0184%；秦磊拟减持数量 不超过 101,700 股，占公司总股本的比例不超过 0.0298%。上述减持计划自公告 ...

深圳市联赢激光股份有限公司 董事、高管减持股份结果公告 证券代码：688518 证券简称：联赢激光 公告编号：2025-023 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律 责任。 1 重要内容提示： 董事、高管持股的基本情况 本次减持计划实施前，深圳市联赢激光股份有限公司（以下简称"公司"） 董事、副总经理李毅持有公司股份 641,892 股，占公司总股本的比例为 0.1881%； 董事、副总经理卢国杰持有公司股份 251,953 股，占公司总股本的比例为 0.0738%； 副总经理秦磊持有公司股份 406,947 股，占公司总股本的比例为 0.1192%。 上述股份，其中董事、副总经理李毅持有的 200,000 股为股权激励取得， 79,500 股为集中竞价交易取得；董事、副总经理卢国杰持有的 200,000 股为股 权激励取得，3,198 股为集中竞价交易取得；副总经理秦磊持有的 200,000 股为 股权激励取得；其余均来源于公司首次公开发行前持有的股份，且已于 2021 年 6 月 22 日解除限售并上市流 ...