（文章来源：证券日报） 证券日报网讯融捷股份10月9日在互动平台回答投资者提问时表示，公司与控股股东在锂盐业务方面的 同业竞争，目前通过公司受托经营的方式解决，关于同业竞争的解决计划详见公司2022年7月22日披露 的公告或公司定期报告。公司如有并购重组相关事项，将严格按照法律法规及时履行信息披露义务。 ...

事件描述 2)归母净利润：毛利润减少叠加存货减值损失，归母净利润同比-9%； A股12家涉及锂矿&锂盐业务企业均已披露2025半年报，我们从价格、产量、库存、营业收入、归母净 利润、毛利率&净利率、费用、资本支出和偿债能力九大方向进行分析，通过样本企业观测市场整体变 化趋势，以寻求锂行业周期拐点启示。 12家样本企业为： 天齐锂业 、 中矿资源 、 盛新锂能 、 雅化集团 、 融捷股份 、 永兴材料 、 江特电 机 、 盐湖股份 、 藏格矿业 、 西藏矿业 、 天华新能 、 华友钴业 (以上排名不分先后)。 事件点评 通过我们对A股12家锂矿企业2025半报的梳理，我们发现：1.市场方面： 1)价格：2025Q2锂资源出清不及预期，锂价持续探底至6万元/吨位置； 2)产量：2025Q2中国锂盐产量增速放缓； 3)库存：需求低迷下，锂盐社会库存高位累库维持在15万吨以上水平。 2.上市公司业绩层面： 1)营业收入：2025Q2上市公司以量补价，营业收入同比+3%； 2、需关注锂价下跌带来公司资产减值和投资收益下降的可能性。 3)毛利率&净利率：2025Q2毛/净利率为22.36%/9.13%，出现反转趋势； 4 ...

Investment Rating - The industry investment rating is "Positive" [4] Core Viewpoints - The lithium mining industry is experiencing a gradual stabilization after a period of clearing out excess inventory, with signs of a cyclical turning point approaching [2][3] - The report highlights that the performance of listed lithium companies is under pressure due to declining lithium prices and increased inventory levels, but there are indications of potential recovery in the second half of 2025 [8][10] Market Analysis - Lithium prices fell to 60,000 yuan/ton in Q2 2025, down from 74,000 yuan/ton, reflecting a continued downward trend due to oversupply [10] - The production growth rate of lithium salts in China slowed, with Q2 2025 production at 299,000 tons, a year-on-year increase of 4% [11] - Social inventory of lithium salts remained high at over 150,000 tons due to weak demand [16] Company Performance - The total operating revenue of the 12 listed lithium companies reached 35.36 billion yuan in Q2 2025, a year-on-year increase of 3% [21] - The net profit attributable to shareholders decreased by 9% year-on-year to 3.227 billion yuan in Q2 2025, impacted by reduced gross profit and inventory impairment losses [25] - The gross margin for the companies was 22.36%, showing a reversal trend, while the net margin was 9.13% [33][36] Financial Metrics - The total expenses for the 12 companies amounted to 2.287 billion yuan in Q2 2025, a decrease of 16.3% year-on-year [40] - Capital expenditures for the companies totaled 11.5 billion yuan in H1 2025, indicating a slowdown in investment as the industry approaches a cyclical bottom [53] - The debt repayment capability remains stable, with an average cash ratio of 0.64 and a debt-to-asset ratio of 26.25% [61][62]

10月9日，融捷股份涨5.54%，截至发稿，报41.51元/股，成交1.48亿元，换手率1.40%，总市值107.78亿 元。 资料显示，融捷股份有限公司位于广东省广州市天河区珠江西路5号广州国际金融中心45层04-05单元， 成立日期1998年8月21日，上市日期2007年12月5日，公司主营业务涉及以新能源锂电材料产业链为主 体,主要包括锂矿采选、锂盐加工及冶炼、锂电设备制造等业务,并参股镍钴锂湿法冶炼及深加工、锂电 池正极材料等业务板块。主营业务收入构成为：锂精矿86.31%，锂电池设备12.76%，锂盐0.66%，其他 0.28%。 从基金十大重仓股角度 数据显示，金元顺安基金旗下1只基金重仓融捷股份。金元顺安鑫怡混合发起式A（022492）二季度持 有股数1900股，占基金净值比例为0.53%，位居第九大重仓股。根据测算，今日浮盈赚取约4142元。 金元顺安鑫怡混合发起式A（022492）基金经理为李锐、陈铭杰。 截至发稿，李锐累计任职时间220天，现任基金资产总规模1088.59万元，任职期间最佳基金回报 6.88%， 任职期间最差基金回报6.55%。 陈铭杰累计任职时间1年349天，现任基金资产 ...

证券日报网讯融捷股份（002192）9月30日在互动平台回答投资者提问时表示，广州融捷电源计划建设 磷酸铁锂正极材料5万吨/年产能项目，项目正处于装修施工阶段，目前尚未投产。 ...

证券之星消息，9月29日能源金属板块较上一交易日上涨4.85%，博迁新材领涨。当日上证指数报收于 3862.53，上涨0.9%。深证成指报收于13479.43，上涨2.05%。能源金属板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002460 | 赣锋锂业 | 5.42 Z | 8.01% | -2.46 Z | -3.64% | -2.96 Z | -4.37% | | 603799 | 华友钻业 | 4.97 Z | 7.57% | -4360.94万 | -0.66% | -4.53 Z | -6.90% | | 002466 天齐锂业 | | 1.29 乙 | 3.22% | -5267.99万 | -1.31% | -7639.36万 | -1.90% | | ...

（编辑 袁冠琳） 证券日报网讯 融捷股份9月25日在互动平台回答投资者提问时表示，公司联营锂盐企业为公司锂矿采选 的配套冶炼工厂，公司按持有的股权比例确认投资收益。公司锂精矿产品优先保障联营锂盐企业的供 应，是符合公司利益最大化的经营策略以及公司集中优势资源发展资源优势的发展战略的。公司关联交 易和非关联交易的定价原则一致，都是参考市场价格进行公允合理的定价，不存在通过关联交易侵害公 司或投资者利益情况。 ...

证券之星消息，9月25日能源金属板块较上一交易日上涨1.36%，盛屯矿业领涨。当日上证指数报收于 3853.3，下跌0.01%。深证成指报收于13445.9，上涨0.67%。能源金属板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300618 | 塞锐铝业 | 49.88 | -1.42% | 23.27万 | 11.72亿 | | 301219 | 腾远钻业 | 66.81 | -0.74% | 10.06万 | 6.81亿 | | 6633399 | 永杉坪 / | 9.48 | -0.21% | 9.94万 | 9548.49万 | | 605376 | 博迁新材 | 55.53 | 0.09% | - 3.50万 | 1.94亿 | | 662209 | 华友钻业 | 55.61 | 0.16% | 93.35万 | 52.24 Z | | 000762 | 西藏矿业 | 22.58 | 0.94% | 19.31万 | 4.39 乙 | | 002192 | 融捷 ...

证券日报网讯融捷股份（002192）9月24日在互动平台回答投资者提问时表示，广州融捷电源正极材料 项目正处于装修施工阶段，目前尚未投产。 ...

Market Overview - On September 24, the energy metals sector increased by 1.83% compared to the previous trading day, with Huayou Cobalt leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Individual Stock Performance - Huayou Cobalt (603799) closed at 55.52, with a rise of 5.79% and a trading volume of 1.32 million shares [1] - Xizang Mining (000762) closed at 22.37, up 4.39% with a trading volume of 200,100 shares [1] - Rongjie Co., Ltd. (002192) closed at 35.32, increasing by 3.97% with a trading volume of 79,200 shares [1] - Ganfeng Lithium (002460) closed at 54.92, up 3.35% with a trading volume of 1.21 million shares [1] - Yongxing Materials (002756) closed at 34.52, increasing by 2.89% with a trading volume of 93,900 shares [1] Capital Flow Analysis - The energy metals sector saw a net inflow of 299 million yuan from main funds, while retail funds experienced a net outflow of 352 million yuan [1] - Retail investors contributed a net inflow of 52.18 million yuan [1] Detailed Capital Flow for Selected Stocks - Huayou Cobalt had a main fund net inflow of 264 million yuan, but retail funds saw a net outflow of 191 million yuan [2] - Coldray Mining (300618) experienced a main fund net inflow of 35.46 million yuan, while retail funds had a net outflow of 45.88 million yuan [2] - Rongjie Co., Ltd. had a main fund net inflow of 12.06 million yuan, with retail funds showing a net outflow of 7.79 million yuan [2] - Ganfeng Lithium had a main fund net inflow of 4.36 million yuan, but retail funds experienced a net outflow of 16.13 million yuan [2]