Market News - China will release December import and export data on January 14, with exports expected to grow by 3.0% year-on-year, down from 5.9% in November, while imports are anticipated to decline by 2.9% [3] - The trade balance for December 2025 will also be published on January 14, with total goods trade from January to November 2025 reaching 41.21 trillion yuan, a year-on-year increase of 3.6% [3] Commodity Futures - The Shanghai Futures Exchange will adjust the price limit for platinum and palladium futures contracts to 16% starting from January 13, 2026, with the trading margin standard set at 18% [4] Energy Outlook - The U.S. Energy Information Administration (EIA) will release its Short-Term Energy Outlook report on January 13, maintaining the WTI crude oil price forecast for 2025 at slightly below $69 per barrel [5] U.S. Economic Data - The U.S. will release December CPI data on January 13, with core CPI expected to rebound significantly, predicted at 0.36% by Morgan Stanley and 0.38% by Bloomberg, both higher than the average of 0.08% in October and November [6] - Key economic indicators including October and November PPI and November retail sales will also be released, with expectations of moderate PPI growth and a 0.7% rebound in retail sales for November [6] Federal Reserve - The Federal Reserve will publish its latest Beige Book on January 14, indicating that government shutdowns and AI applications have weakened the job market, while rising tariffs and healthcare costs have increased business expenses [7] Earnings Season - The earnings season for Q4 2025 will commence this week, with major banks including JPMorgan, Citigroup, and Goldman Sachs set to report [8] Sector Events - The second China eVTOL Innovation Development Conference is scheduled for January 15-16, 2026, in Shanghai, focusing on the new commercial era of eVTOL [10] - The fourth Data Center Liquid Cooling & AI Chip Thermal Management Supply Chain Conference will be held on January 14-15, 2026, in Shenzhen [10] - China's first comprehensive law in the nuclear energy sector, the Atomic Energy Law, will take effect on January 15, 2026 [11] Individual Company News - Hangyu Technology announced on January 11 that it has repurchased 752,800 shares, with plans to sell them within six months [13] - Huadong Medicine's subsidiary has developed a breakthrough treatment for severe hypertriglyceridemia, which has been included in the list of breakthrough therapies by the National Medical Products Administration [13] - Jingfeng Mingyuan plans to acquire 100% of Sichuan Yichong Technology Co., with a key review meeting scheduled for January 16, 2026 [13] - TSMC has commenced research on its next-generation 1.4nm process, with risk trial production expected to start in 2027 [13] Lock-up Expiration - From January 12 to January 16, 2026, 23 companies will have lock-up shares released, totaling 2.434 billion shares with a market value of approximately 48.56 billion yuan [16] - The highest market value of lock-up shares released on January 12 is from Tianxin Pharmaceutical at 7.84 billion yuan [17] New Stock Calendar - Two new stocks are set to be issued this week, with a total issuance of approximately 34 million shares and expected fundraising of 1.909 billion yuan [19] Market Outlook - The current market enthusiasm is driven by concentrated inflows from previously cautious funds, with expectations for continued momentum in thematic and small-cap stocks until after the Two Sessions [22] - Guojin Securities suggests that the spring market is likely to perform well, with a focus on AI investments and the recovery of domestic manufacturing [23] - Everbright Securities anticipates sustained market heat but warns of potential cooling as the Lunar New Year approaches, recommending attention to sectors like electronics and power equipment [24]

Core Viewpoint - Shijiazhuang Shangtai Technology Co., Ltd. is set to unlock 95.327 million shares, accounting for 36.55% of the total share capital, on January 12, 2026, following the expiration of the lock-up period for previously issued shares [1] Group 1: Share Capital Changes - Prior to the public offering, the total share capital of Shangtai Technology was 195 million shares, which increased to 260 million shares after the issuance of approximately 64.9437 million shares on December 28, 2022 [2] - Following the recent changes, the total share capital remains at 261 million shares, with 61.90% (approximately 161 million shares) being unrestricted and 38.10% (approximately 99.3575 million shares) being restricted [2] - After the unlocking of shares, the number of restricted shares will decrease to approximately 74.7495 million, representing 28.66% of the total share capital, while unrestricted shares will increase to approximately 186 million, raising their proportion to 71.34% [1][2] Group 2: Management and Share Transfer Restrictions - The current chairman and general manager, Ouyang Yongyue, is subject to a transfer restriction, allowing him to transfer no more than 25% of his total shareholding each year during his tenure [2]

Market Overview - The battery sector experienced a decline of 0.75% on the previous trading day, with Greeenme leading the drop [1] - The Shanghai Composite Index closed at 4082.98, down 0.07%, while the Shenzhen Component Index closed at 13959.48, down 0.51% [1] Stock Performance - Anfu Technology (603031) saw a significant increase of 9.99%, closing at 52.50 with a trading volume of 193,000 shares and a turnover of 981 million [1] - Shanshan Co., Ltd. (600884) rose by 4.56%, closing at 14.00 with a trading volume of 1,293,500 shares and a turnover of 1.777 billion [1] - In contrast, Greeenme (002340) fell by 5.89%, closing at 8.78 with a trading volume of 6,204,100 shares and a turnover of 553.6 million [2] - Zhongwei Co., Ltd. (300919) decreased by 5.69%, closing at 53.90 with a trading volume of 336,100 shares and a turnover of 1.826 billion [2] Capital Flow - The battery sector saw a net outflow of 4.369 billion from institutional investors, while retail investors contributed a net inflow of 3.603 billion [2] - The main capital inflow and outflow for specific stocks included: - Xian Dao Intelligent (300450) had a net inflow of 5.90 billion from main capital [3] - Fulin Precision (300432) experienced a net outflow of 96.438 million from main capital [3] - Shanshan Co., Ltd. (600884) had a net inflow of 16.3 million from main capital [3]

Core Viewpoint - The lithium battery industry is poised for a significant growth cycle in 2026, characterized by strong demand recovery, accelerated global expansion, and disruptive technological advancements, leading to a "spiral rise" in both volume and price [3]. Group 1: Market Outlook - Global lithium battery production is expected to reach 2250 GWh by 2025, with a growth rate of 30% in 2026, particularly in the energy storage sector, which may see a remarkable growth rate of 48.3% [5]. - The demand surge will significantly impact the supply of battery cells and four key upstream materials, highlighting a potential supply gap that needs to be addressed for stable and efficient supply chains [5]. Group 2: Conference Details - The 2026 Lithium Key Materials and Application Market Summit will be held on March 19-20, 2026, in Changzhou, Jiangsu, organized by Xinluo Information [4]. - The summit will focus on three core topics: in-depth discussions on cutting-edge technologies and market supply-demand dynamics, the release of the authoritative 2025 lithium battery brand rankings, and B2B procurement matchmaking [5][6][7]. Group 3: Key Topics and Speakers - The main forum will cover topics such as the outlook for lithium ore resource supply, operational strategies for lithium carbonate in the current market environment, and advancements in high-energy-density power battery technology [9]. - Sub-forums will address critical materials for power batteries and energy storage, including market trends, solid-state battery technology, and the impact of policies on energy storage projects [10][11]. Group 4: Participation and Costs - The participation fee for the conference is set at 2800 yuan per person, with a limited-time free attendance option available for the first 200 registrants [17].

Group 1 - The core point of the news is that Shangtai Technology's stock price has dropped by 5%, currently trading at 81.68 yuan per share, with a total market capitalization of 21.302 billion yuan [1] - Shangtai Technology, established on September 27, 2008, specializes in the research, production, and sales of lithium-ion battery anode materials and carbon products, with its main revenue sources being 91.57% from anode materials, 4.29% from graphitized coke, 3.62% from other sources, and 0.52% from diamond carbon sources [1] Group 2 - From the perspective of major fund holdings, one fund under ICBC Credit Suisse holds a significant position in Shangtai Technology, with 881,000 shares, accounting for 1.91% of the fund's net value, making it the eighth-largest holding [2] - The ICBC New Energy Mixed A Fund (005939) has a total scale of 2.077 billion yuan, with a year-to-date return of 4.37% and a one-year return of 68.04% [2] - The fund managers, Zhang Shuli, Xing Mengxing, and Gao Jingxia, have varying tenures and performance records, with Zhang and Xing both having a tenure of 2 years and 257 days, while Gao has been in position for 1 year and 13 days [2]

Group 1 - The core point of the article is the establishment of Shijiazhuang Shangtai Lithium Battery Technology Co., Ltd. with a registered capital of 50 million yuan [1] - The company's business scope includes the manufacturing and sales of graphite and carbon products, sales of non-metallic minerals and products, and import and export of goods [1] - The company is wholly owned by Shangtai Technology, indicating a focused investment in the lithium battery sector [1]

1、本次解除限售股份为石家庄尚太科技股份有限公司（以下简称"公司"） 首次公开发行前已发行部分股份，本次解除限售股份数量为95,327,000股，占公 司总股本36.5514%。 2、本次解除限售股份上市流通日期为2026年1月12日（星期一）。 证券代码：001301 证券简称：尚太科技 公告编号：2026-001 石家庄尚太科技股份有限公司 关于首次公开发行前已发行股份上市流通提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 一、首次公开发行前已发行股份概况 （一）首次公开发行股份情况 公司首次公开发行股份前总股本为194,830,900股，经中国证券监督管理委员会 （以下简称"中国证监会"）《关于核准石家庄尚太科技股份有限公司首次公开发行 股票的批复》（证监许可[2022]2576号）核准，公司首次公开发行人民币普通股（ A股）64,943,700股，自2022年12月28日起在深圳证券交易所主板上市交易。公司 首次公开发行后总股本为259,774,600股，其中有限售条件股份数量为194,830,900 股，占发行后总股本的75% ...

（一）首次公开发行股份情况 尚太科技首次公开发行股份前总股本为194,830,900股，经中国证券监督管 理委员会（以下简称"中国证监会"）《关于核准石家庄尚太科技股份有限公 司首次公开发行股票的批复》（证监许可[2022]2576号）核准，公司首次公开发 行人民币普通股（A股）64,943,700股，自2022年12月28日起在深圳证券交易所 主板上市交易。公司首次公开发行后总股本为259,774,600股，其中有限售条件 股份数量为194,830,900股，占发行后总股本的75%；无限售条件流通股 64,943,700股，占发行后总股本的25%。 （二）上市后股本变动情况 国信证券股份有限公司 关于石家庄尚太科技股份有限公司 部分首次公开发行前已发行股份上市流通的核查意见 国信证券股份有限公司（以下简称"国信证券"或"保荐人"）作为石家 庄尚太科技股份有限公司（以下简称"尚太科技"或"公司"）首次公开发行 股票并上市（以下简称"本次发行"）的保荐人，根据《证券发行上市保荐业 务管理办法》《深圳证券交易所股票上市规则（2025 年修订）》以及《深圳证 券交易所上市公司自律监管指引第 1 号——主板上市公司规 ...

Core Viewpoint - The article suggests that 2026 is expected to mark the beginning of a new healthy and orderly development cycle for China's lithium battery new energy industry [3][19]. Investment Overview - In 2025, over 282 public investment projects related to the lithium battery industry chain in China are anticipated, with a total investment exceeding 820 billion yuan, representing a year-on-year growth of over 74% [4]. - The investment projects are primarily concentrated in East and Central China, with regions like Fujian, Shandong, and Jiangsu leading in lithium battery and material manufacturing due to their rich chemical resources and strategic enterprise layouts [6]. Regional Distribution - The Southwest region, particularly Sichuan, is expected to dominate the investment in lithium battery positive materials, accounting for 59% of the projects, with a significant production capacity of over 350 GWh [11]. - Negative materials investment is more evenly distributed, with North and Northwest China favored due to lower electricity costs [11]. - The electrolyte projects are mainly concentrated in East China, benefiting from a robust industrial chain and proximity to downstream markets [11]. Overseas Expansion - Chinese lithium battery companies are increasingly focusing on overseas markets, with significant investments in Thailand, Spain, and Portugal, driven by favorable geopolitical conditions and local demand [7]. - Notable projects include the establishment of a zero-carbon AI super factory in Portugal and a joint venture factory in Spain by CATL and Stellantis [7]. Solid-State and Sodium Battery Development - In 2025, solid-state battery projects are expected to be concentrated in East China, with planned capacities of 74 GWh and total investments of 28 billion yuan [15]. - The sodium battery sector is projected to see significant growth, with planned capacities of 81 GWh and total investments of 32.2 billion yuan, primarily in the Southwest region [15]. Market Outlook - The lithium new energy industry is emerging from a challenging period characterized by supply-demand imbalances and declining prices, with positive signals indicating a recovery starting in 2025 [18]. - The demand for solid-state batteries and sodium batteries is expected to accelerate, with the latter projected to achieve a 100% increase in shipments by 2026 [19].

Group 1 - Gree Electric's CMO Zhu Lei criticized Skyworth Electric on Weibo, accusing them of plagiarism in their advertising design [2][4] - The design in question was a promotional poster for Skyworth air conditioners that closely resembled Gree's "True Copper, Gree Made" campaign [2][4] - The poster from Skyworth's official video account has since been deleted, and as of the report's publication, there has been no response from Skyworth regarding the allegations [2][4]