Core Viewpoint - Jiangxi Jiangte Trading Co., Ltd. has been established with a registered capital of 100 million yuan, focusing on the sales of metal ores, metal materials, non-ferrous metal alloys, and high-performance non-ferrous metals and alloy materials. The company is wholly owned by Jiangte Motor (002176) [1] Company Summary - Jiangxi Jiangte Trading Co., Ltd. has a registered capital of 100 million yuan [1] - The company’s business scope includes the sales of metal ores, metal materials, non-ferrous metal alloys, and high-performance non-ferrous metals and alloy materials [1] - Jiangte Motor (002176) holds 100% ownership of Jiangxi Jiangte Trading Co., Ltd. [1]

Group 1: Report Investment Rating - No information provided Group 2: Core Viewpoints - The report suggests trading with a light position in a volatile market and controlling risks by paying attention to trading rhythms [2] Group 3: Summary by Relevant Catalogs Futures Market - The closing price of the main contract is 108,620 yuan/ton, up 8,020 yuan; the net position of the top 20 is -177,850 lots, down 8,717 lots; the position of the main contract is 668,589 lots, up 2,562 lots; the spread between near and far contracts is -1,400 yuan/ton, up 80 yuan; the Guangzhou Futures Exchange warehouse receipt is 15,636 lots/ton, up 350 lots [2] Spot Market - The average price of battery - grade lithium carbonate is 97,050 yuan/ton, up 1,200 yuan; the average price of industrial - grade lithium carbonate is 94,450 yuan/ton, up 1,100 yuan; the basis of the Li₂CO₃ main contract is -11,570 yuan/ton, down 6,820 yuan [2] Upstream Situation - The average price of spodumene concentrate (6% CIF China) is 1,230 US dollars/ton, up 20 US dollars; the average price of amblygonite is 11,600 yuan/ton, up 625 yuan; the price of lithium mica (2 - 2.5%) is 4,058 yuan/ton, unchanged [2] Industry Situation - The monthly output of lithium carbonate is 53,980 tons, up 2,450 tons; the monthly import volume is 23,880.69 tons, up 4,283.79 tons; the monthly export volume is 245.91 tons, up 95.10 tons; the monthly operating rate of lithium carbonate enterprises is 47%, unchanged; the monthly output of power batteries is 176,300 MWh, up 5,700 MWh; the prices of manganese - acid lithium, hexafluorophosphate lithium, cobalt - acid lithium, and various ternary materials are unchanged [2] Downstream and Application Situation - The operating rates of ternary cathode materials and lithium iron phosphate cathode materials are 51% and 63% respectively, down 1 percentage point each; the monthly output of new energy vehicles is 1,880,000 vehicles, up 108,000 vehicles; the monthly sales volume is 1,823,000 vehicles, up 108,000 vehicles; the cumulative sales penetration rate of new energy vehicles is 47.48%, up 0.74 percentage points; the cumulative sales volume is 14,780,000 vehicles, up 3,518,000 vehicles; the monthly export volume is 300,000 vehicles, up 44,000 vehicles; the cumulative export volume is 2.315 million vehicles, up 1.174 million vehicles [2] Option Situation - The 20 - day average volatility of the underlying is 53.25%, up 2.75 percentage points; the 40 - day average volatility is 51.25%, up 3.05 percentage points; the total call position is 130,660 contracts, up 2,257 contracts; the total put position is 108,401 contracts, up 3,847 contracts; the put - call ratio of the total position is 82.96%, up 1.5377 percentage points; the implied volatility of at - the - money options is up 0.0005 percentage points [2] Industry News - In 2026, the top priority is to expand domestic demand, and efforts will be made to stabilize the real estate market from both supply and demand sides; Yichun plans to cancel 27 mining licenses, including Jiangte Motor's mining right, and the company has submitted an objection; it is estimated that in 2026, China's overseas production and sales of automobiles (including exports) will reach 8 million, with a 15% increase, and new energy vehicles will reach 3.5 million, with a two - year compound growth rate of 65%, and the export value of auto parts and lithium batteries will reach 180 billion US dollars [2] Market Analysis - The main contract of lithium carbonate fluctuates strongly, with an increase of 7.61% at the close. The position increases month - on - month, the spot price is at a discount to the futures price, and the basis weakens compared with the previous day. The raw material price is supported by the strong futures market and overseas mines' price - holding. The supply of lithium salt increases steadily due to good profits and new production lines. The demand remains strong due to high - level orders of downstream battery factories, and the industry chain continues to reduce inventory [2] Technical Analysis - On the 60 - minute MACD chart, the two lines are above the 0 - axis, and the red bars slightly converge [2]

宜春市拟注销27个采矿权，其中涉及江特电机（002176.SZ）的核心锂矿资产，公司发布公告称已提交 异议。 2024年年报显示，江特电机目前控制的采矿权分别为江西省宜丰县茜坑锂矿、江西省宜丰县狮子岭矿区 含锂瓷石矿、宜春市新坊钽铌有限公司钽铌矿和奉新县南方矿业有限公司白水瓷石矿。 宜春坐拥亚洲最大的锂云母矿储量，是国内碳酸锂冶炼重镇。2025年下半年以来，当地已接连对涉锂矿 山收紧监管：7月要求8家矿山完成矿种变更及储量核实；8月，宁德时代枧下窝矿区因采矿证到期暂停 开采，带动碳酸锂期货4天暴涨18.5%。市场普遍认为，此次集中注销若最终落地，将进一步收缩锂云 母供应，对国内碳酸锂价格形成支撑。 受消息刺激，12月17日碳酸锂期货主力合约盘中大涨近5%，收报105600元/吨；港股天齐锂业、赣锋锂 业早盘同步高开近4%，A股锂矿板块亦表现活跃。 截至当天收盘，江特电机报9.43元/股，股价下跌了3.63%。 近日，江西宜春市自然资源局发布《关于拟公告注销27个采矿权的公示》，计划一次性注销27宗采矿许 可证，公示期至2026年1月22日，为期30个工作日。一旦公示期满且无有效异议，相关矿权将正式公告 注销， ...

"白色石油"传来重磅利好！ 今早，碳酸锂期货主力合约突然暴拉，涨幅一度超过8%，报108600元/吨上方。锂矿概念股天华新能、金圆股 份、盛新锂能、盐湖股份、中矿资源、国城矿业等表现强劲。 据宜春市自然资源局网站，拟对27宗采矿许可证予以注销，并向社会公示，公示时间30个工作日，公示期满后 予以公告注销，注销后生态修复等相关义务由原矿权人履行。此消息可能引发市场再度定价碳酸锂供需关系变 动，进而推动相关产品上升。 从供应看，2026年澳洲KathleenValley以及Holland两座新矿山产能继续爬坡，Greenbushes CGP 3期项目投产； 南美盐湖SQM转产氢氧化锂的产能继续爬坡，阿根廷的新增项目力拓的Rincon、紫金矿业的3Q以及赣锋锂业 的Mariana项目均已投产；南非赣锋锂业的Goulamina项目爬产，海南矿业的Bougouni项目以及紫金矿业的刚果 金Manono项目投产；国内新疆、湖南以及西藏盐湖均有增量，2026年预计全球范围内供应增量在33万吨上 下。 从需求看，新能源汽车渗透率近50%，叠加补贴退坡，加征一半购置税，预计新能源汽车产销增速会有所放 缓，动力电池增速给到20% ...

12月17日，碳酸锂期货主力合约拉涨。截至11:50，盘中最高涨超8.8%，最高报10.78万元/吨，创2024年5月以来新高。今年以来，碳酸锂期货主力合约累 计涨超40％。 | < W | | | 碳酸锂2601 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | LC2601.GFE | | | | | 107640 "F | | | 99100 总手 | | 4.02万 | 万得 盘口 | | +8540 | +8.62% + 益 | | 100740 现手 | | 1 | | | 最高价 | 107840 导 | の | 8.55万 | 9 | | 2.24万 | | 最低价 | 99620 料 එ | | -7135 | 内 | | 1.78万 | | 分时 | 五日 HK | | 居K | 月K | 更名 | | | 叠加 | | | | | | 均价:104585 | | 107840.00 | | | | | | 8.82% | | 99100.00 | | | | | | 0.00% | | 90360.00 | | | | ...

Core Viewpoint - The article discusses significant developments in the lithium mining sector in Yichun, Jiangxi Province, particularly the cancellation of mining licenses and the implications for lithium supply and pricing in the market [3][6][9]. Group 1: Market Developments - Lithium carbonate futures prices have surged, with the main contract exceeding 100,000 yuan per ton, marking an increase of over 6% as of December 17 [4]. - Yichun, known as "Asia's Lithium Capital," is facing regulatory changes as the local natural resources bureau plans to cancel 27 mining licenses, which may impact the supply of lithium resources [6][9]. Group 2: Mining License Cancellations - The Yichun Natural Resources Bureau has publicly announced the intention to cancel 27 mining licenses, with a public notice period of 30 working days before finalizing the cancellations [6][10]. - Among the licenses to be canceled, many have varying expiration dates, with some already expired and others set to expire in 2024 [6][10]. - High An Mining Development Co., Ltd. is notably affected, with four licenses set to be canceled, all expiring on April 25, 2024 [7][10]. Group 3: Company Profiles - High An Mining Development Co., Ltd., established in 2013, is a subsidiary of Yichun Mining Co., which is a state-owned enterprise focused on the management and development of lithium resources in Yichun [7]. - Jiangxi Special Electric Motor Co., Ltd. operates a lithium-containing ceramic stone mine in Yifeng County, with a resource quantity of 57,322.98 tons of Li2O [8]. Group 4: Implications for the Industry - The cancellation of mining licenses may lead to a tighter supply of lithium, which is critical for the battery industry, potentially affecting prices and availability in the market [6][9]. - The majority of mining licenses in Yichun are for ceramic clay and limestone, with only a few directly related to lithium, indicating a need for more focused resource management in the region [7][8].

SHMET 网讯：继宁德时代枧下窝矿被关停后，"亚洲锂都"宜春又现大动作。 近日，碳酸锂期货价格大涨，主力合约再次站上10万元关口。 "亚洲锂都"宜春又现大动作 最新消息，根据《矿产资源法》、《矿产资源开采登记管理办法》和《自然资源部关于进一步完善矿产资源勘查开采登记管理的通知》等相关要求，宜春 市自然资源局拟对高安市伍桥瓷石矿等27宗采矿许可证予以注销。 目前，宜春市自然资源局已对拟注销的27宗采矿许可证进行公示，公示期（30个工作日）满后予以公告注销。注销后，生态修复等相关义务由原矿权人履 行。 证券时报·e公司记者注意到，此次拟注销的27宗采矿许可证，有效日期截止时点差别较大。其中，5宗采矿权许可证有效日期在2024年已到期，1宗采矿权 有效日期为2023年到期，18宗采矿权许可证有效期在2010—2019年之间已经到期。另外，还有3宗采矿权许可证的有效期，在2010年以前就已经到期。 从公示名单来看，高安市矿业开发有限公司涉及的量最多，此次拟注销4个采矿许可证。这4宗采矿许可证有效日期，均为2024年4月25日到期。 企查查显示，高安市矿业开发有限公司成立于2013年，位于江西省宜春市，是一家以从事制 ...

12月17日，A股上市公司江特电机公告称，宜春市自然资源局网站于近日发布了《关于拟公告注销27个采矿权的公示》（下称《公示》），公司的 江西省宜丰县狮子岭矿区含锂瓷石矿是本次公示拟注销的27个采矿权之一。公司已向宜春市自然资源局提交了《关于宜丰县狮子岭矿区含锂瓷石矿 拟注销公示的异议申请》，提出相关解决方案，尽最大努力争取延续狮子岭矿区采矿证。同时，公司正在全力办理茜坑锂矿投产前的各项准备工 作，力争早日投产。 据了解，此次狮子岭矿区采矿权拟注销，是当地自然资源部门依据矿产资源相关法规开展的集中清理工作，27个采矿权一同被列入拟注销名单。期 货日报记者查询宜春市自然资源局发布的《公示》获悉，根据《中华人民共和国矿产资源法》《矿产资源开采登记管理办法》和《自然资源部关于 进一步完善矿产资源勘查开采登记管理的通知》等相关要求，拟对高安市伍桥瓷石矿等27宗采矿许可证予以注销。目前，宜春市自然资源局已对拟 注销的27宗采矿许可证进行公示，公示期（30个工作日）满后予以公告注销。注销后，生态修复等相关义务由原矿权人履行。 | 索 引 号： | 0147175710/2025-0171744 | 发布机构： | 宜春市自 ...

Core Viewpoint - Jiangte Electric announced that its lithium-containing ceramic stone mine in Yifeng County, Jiangxi Province, is among the 27 mining rights proposed for cancellation by the Yichun Natural Resources Bureau, indicating a regulatory tightening in the mining sector [1][2]. Group 1: Company Actions - The company has submitted an objection application to the Yichun Natural Resources Bureau regarding the proposed cancellation of the mining rights, aiming to extend the mining certificate for the Shiziling mine [1]. - The company is also making preparations for the production of the Qian坑 lithium mine, striving for early production [1]. Group 2: Industry Context - The 27 mining rights proposed for cancellation include 17 for ceramic soil and 7 for limestone, with all licenses having expired [2]. - The cancellation of these mining rights is seen as a signal of stricter regulations and industry upgrades, with limited immediate impact on the actual supply of lithium carbonate [2]. - The recent actions align with the implementation of the new Mineral Resources Law, which lists lithium as an independent mineral, indicating a shift towards strategic mineral security and sustainable development in the region [3].

Highlights - Baida Group has experienced a significant short-term stock price increase, indicating potential risks of subsequent declines [1][5] Performance - China Pacific Insurance reported a 9.4% year-on-year increase in premium income for Pacific Life Insurance in the first 11 months [13] Shareholding Changes - Hu塑股份 plans to reduce its shareholding by no more than 2% [14] - Funeng Technology intends to reduce its shareholding by no more than 2% [15] Share Buybacks - Action Education plans to repurchase shares worth between 20 million to 25 million [16] - Nova Star Cloud intends to repurchase shares worth between 75 million to 150 million [17] Contract Wins - China XD Electric's subsidiary won a project worth 1.005 billion for the Southern Power Grid [18] - Poly Union's wholly-owned subsidiary won a project worth 1.528 billion [19] Major Investments - Zhongke Electric plans to invest approximately 7 billion to build an integrated project for producing 300,000 tons of lithium-ion battery anode materials annually [20] -沃尔核材 plans to invest no more than 1.5 billion to expand the Shuikou Industrial Park [21] - Xiechuang Data intends to procure servers worth no more than 9 billion to provide cloud computing services for clients [22] Other News - Jiayuan Technology's chairman has lifted the order for investigation [23] - Jiangte Electric plans to cancel the mining rights for lithium-containing ceramic stone in the Lion Ridge mining area [24] - Haili Biological's subsidiary has obtained a registration certificate for its products in Indonesia [25] Overseas Listings - Meg Intelligent has received approval from the China Securities Regulatory Commission for issuing overseas listed foreign shares (H shares) [3] - Dazhu CNC has also received approval for issuing overseas listed shares (H shares) [4][26]