Core Viewpoint - Rongjie Co., Ltd. plans to establish a new energy operation holding subsidiary in collaboration with Rongjie Group, with a registered capital of 100 million RMB [1] Group 1 - The registered capital of the new subsidiary is set at 100 million RMB, with Rongjie Co., Ltd. contributing 51 million RMB for a 51% stake [1] - Rongjie Group will contribute 49 million RMB, holding a 49% stake in the new subsidiary [1]

Core Insights - The energy metals sector experienced a significant increase of 3.95% on December 26, with Yongxing Materials leading the gains [1] - The Shanghai Composite Index closed at 3963.68, up 0.1%, while the Shenzhen Component Index closed at 13603.89, up 0.54% [1] Energy Metals Sector Performance - Yongxing Materials (002756) closed at 55.51, up 10.01%, with a trading volume of 223,300 shares and a transaction value of 1.217 billion yuan [1] - Cangge Mining (000408) closed at 85.33, up 7.19%, with a trading volume of 176,800 shares and a transaction value of 1.476 billion yuan [1] - Rongjie Co., Ltd. (002192) closed at 55.46, up 5.28%, with a trading volume of 272,000 shares and a transaction value of 1.493 billion yuan [1] - Tianqi Lithium (002466) closed at 57.93, up 4.32%, with a trading volume of 945,000 shares and a transaction value of 5.467 billion yuan [1] - Jizhong Mining (600711) closed at 14.85, up 4.14%, with a trading volume of 1,488,300 shares and a transaction value of 2.192 billion yuan [1] - Ganfeng Lithium (002460) closed at 68.57, up 3.69%, with a trading volume of 786,200 shares and a transaction value of 5.377 billion yuan [1] - Yongshan Lithium (6633399) closed at 11.07, up 3.07%, with a trading volume of 282,100 shares and a transaction value of 311 million yuan [1] - Shengxin Lithium Energy (002240) closed at 35.21, up 2.65%, with a trading volume of 833,300 shares and a transaction value of 2.958 billion yuan [1] - Tengyuan Diamond (301219) closed at 67.00, up 2.20%, with a trading volume of 61,700 shares and a transaction value of 4.13 million yuan [1] - Tibet Mining (000762) closed at 27.55, up 2.19%, with a trading volume of 299,900 shares and a transaction value of 826 million yuan [1] Capital Flow Analysis - The energy metals sector saw a net inflow of 9.52 billion yuan from main funds, while retail funds experienced a net outflow of 3.68 billion yuan [1] - Major stocks such as Tianqi Lithium and Ganfeng Lithium had significant net inflows from main funds, indicating strong institutional interest [2] - Retail investors showed a tendency to withdraw from several stocks, including Yongxing Materials and Cangge Mining, reflecting a cautious sentiment among smaller investors [2]

Group 1 - The lithium battery industry chain stocks experienced a collective rise on the 26th, with Yongxing Materials hitting the daily limit, Tianhua New Energy and Zhongkuang Resources increasing by approximately 8%, and companies like Rongjie Co. and BYD rising over 5% [1] - Lithium carbonate futures prices broke through 130,000 yuan/ton, reaching a new high since November 2023 [1] - Major manufacturers of lithium iron phosphate are reportedly planning a collective price adjustment in January 2026, influenced by rising lithium carbonate raw material prices, improving downstream demand, and product sales prices remaining below cost [1] Group 2 - Institutions predict that lithium carbonate prices will continue to fluctuate at high levels due to unclear supply disturbance expectations, high mining prices, and moderate improvements in downstream demand [1] - In the medium to long term, lithium mines are considered the most valuable and elastic targets in the electric vehicle industry chain and energy storage [1]

截至发稿，江博文累计任职时间1年171天，现任基金资产总规模3.87亿元，任职期间最佳基金回报 37.94%， 任职期间最差基金回报6.42%。 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，长安基金旗下1只基金重仓融捷股份。长安鑫禧混合A（005477）三季度减持25万股，持有 股数26.3万股，占基金净值比例为3.95%，位居第四大重仓股。根据测算，今日浮盈赚取约69.43万元。 长安鑫禧混合A（005477）成立日期2018年2月7日，最新规模6439.17万。今年以来收益23.07%，同类 排名4027/8087；近一年收益19.5%，同类排名4381/8074；成立以来亏损55.08%。 长安鑫禧混合A（005477）基金经理为江博文。 12月26日，融捷股份涨5.01%，截至发稿，报55.32元/股，成交7.53亿元，换手率5.34%，总市值143.64 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 ...

Core Viewpoint - The lithium carbonate market has experienced a significant breakthrough, with the main contract rising over 8% to surpass 130,000 yuan/ton, marking a new high since November 2023 [1][8]. Market Performance - As of December 26, the main lithium carbonate contract has recorded six consecutive trading days of gains, with a year-to-date increase of 67.29%, making it one of the best-performing commodities in the market [2][10]. - The Wind lithium mining index rose by 3.24%, with leading stocks such as Shengxin Lithium Energy, Rongjie Co., and Tianqi Lithium Industries seeing gains of over 3% [3][10]. Supply Chain Dynamics - The recent surge in lithium carbonate prices is primarily driven by expectations of supply contraction in the upstream of the industry chain [3][10]. - Major companies in the lithium iron phosphate sector, Hunan Youneng and Wanrun New Energy, announced production cuts, with Youneng reducing production by 15,000 to 35,000 tons and Wanrun cutting 5,000 to 20,000 tons [4][10]. Regulatory Actions - In response to the rapid price increase, the Guangzhou Futures Exchange implemented measures to prevent excessive speculation, including increasing the minimum order size for certain contracts and setting daily opening limits for non-futures company members [5][11]. Future Outlook - Analysts suggest that the lithium carbonate market is characterized by a "strong reality and strong expectation resonance" but caution against short-term volatility risks [12]. - The overall price trend is expected to remain strong, with potential fluctuations due to production cuts and inventory adjustments, while the long-term outlook remains optimistic due to anticipated global energy storage demand in 2026 [6][12].

Market Overview - The energy metals sector experienced a decline of 1.41% on December 25, with Shengxin Lithium Energy leading the drop [1] - The Shanghai Composite Index closed at 3959.62, up 0.47%, while the Shenzhen Component Index closed at 13531.41, up 0.33% [1] Individual Stock Performance - Notable performers in the energy metals sector included: - Boqian New Materials (Code: 605376) closed at 65.00, up 0.78% with a trading volume of 42,300 shares and a transaction value of 272 million yuan [1] - Cangge Mining (Code: 000408) closed at 79.61, up 0.23% with a trading volume of 123,000 shares and a transaction value of 970 million yuan [1] - Ganfeng Lithium (Code: 002460) closed at 66.13, down 0.99% with a trading volume of 583,300 shares and a transaction value of 3.807 billion yuan [1] - Shengxin Lithium Energy (Code: 002240) closed at 34.30, down 3.84% with a trading volume of 672,500 shares and a transaction value of 2.302 billion yuan [2] Capital Flow Analysis - The energy metals sector saw a net outflow of 1.604 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.141 billion yuan [2] - The capital flow for individual stocks showed significant movements: - Yongxing Materials (Code: 002756) had a net inflow from retail investors of 1.288 million yuan, while institutional investors saw a net outflow of 12.606 million yuan [3] - Cangge Mining (Code: 000408) experienced a net outflow of 75.874 million yuan from institutional investors, with retail investors contributing a net inflow of 97.045 million yuan [3] - Ganfeng Lithium (Code: 002460) had a net outflow of 159 million yuan from institutional investors, while retail investors saw a net inflow of 169 million yuan [3]

Market Overview - As of the midday session on December 25, the Shanghai Composite Index rose by 0.29%, while the Shenzhen Component Index fell by 0.11%, and the ChiNext Index decreased by 0.38%. The North Stock 50 Index increased by 1.04% [1] - The total market turnover reached 12,119 billion yuan, an increase of 527 billion yuan compared to the previous day's trading volume [1] Sector Performance - The paper-making sector showed strong performance, with Hengda New Materials (301469) hitting the daily limit of 20%, and both Bohui Paper (600966) and Yibin Paper (600793) also reaching the daily limit [1] - The commercial aerospace sector experienced a significant surge, with Guolian Aviation (300900) also hitting the 20% daily limit, alongside multiple stocks such as Shenjian Co. (002361) and Shanghai Port Bay (605598) reaching their daily limits [1] - The precious metals sector weakened, with Zhaojin Gold (000506) and Hunan Silver (002716) both declining by over 4% [1] - The energy metals sector faced adjustments, with Tianqi Lithium (002466), Shengxin Lithium Energy (002240), and Rongjie Co. (002192) all dropping by more than 4% [1]

Core Viewpoint - The energy metals sector experienced a rise of 0.61% on December 24, with Rongjie Co., Ltd. leading the gains. The Shanghai Composite Index closed at 3940.95, up 0.53%, while the Shenzhen Component Index closed at 13486.42, up 0.88% [1]. Group 1: Stock Performance - Rongjie Co., Ltd. (002192) closed at 54.23, with an increase of 2.94% and a trading volume of 256,500 shares, amounting to a transaction value of 1.382 billion yuan [1]. - Yongxing Materials (002756) closed at 51.93, up 2.75%, with a trading volume of 187,400 shares and a transaction value of 967 million yuan [1]. - Huayou Cobalt (662509) closed at 67.11, increasing by 1.96% with a trading volume of 720,900 shares [1]. - Tianqi Lithium (002466) closed at 56.26, up 0.86%, with a trading volume of 733,400 shares and a transaction value of 4.106 billion yuan [1]. - Ganfeng Lithium (002460) closed at 66.79, increasing by 0.65%, with a trading volume of 614,400 shares and a transaction value of 4.1 billion yuan [1]. Group 2: Capital Flow - The energy metals sector saw a net outflow of 440 million yuan from institutional investors, while retail investors had a net inflow of 488 million yuan [2]. - The capital flow data indicates that Rongjie Co., Ltd. had a net inflow of 98.8154 million yuan from institutional investors, representing 7.15% of its total trading volume [3]. - Ganfeng Lithium experienced a net inflow of 74.8690 million yuan from institutional investors, while retail investors contributed a net inflow of 158.42 million yuan [3].

Group 1 - The lithium carbonate market has experienced a significant surge, with prices reaching 111,400 yuan per ton, marking a 14% increase in a single week and the highest level in 18 months [1][2] - The recent price increase is attributed to the delayed resumption of lithium mining in Jiangxi, which has led to heightened market activity [1] - Rongjie Co., Ltd. (002192.SZ), under the leadership of entrepreneur Lv Xiangyang, is positioned to benefit from this price surge due to its ownership of the largest spodumene mine in Asia [4][5] Group 2 - Rongjie Co., Ltd. reported a revenue of 510 million yuan for the first three quarters of 2025, a 26% year-on-year increase, but a 21% decline in net profit attributable to shareholders [6] - However, the third quarter alone showed a remarkable recovery with a revenue of 210 million yuan, a 35% increase year-on-year, and a net profit of 58.58 million yuan, a staggering 249% increase [7] - The company is expanding its operations by increasing mining capacity and investing in lithium-ion battery material production, aiming to create a complete industry chain from mining to battery production [7][8] Group 3 - Lv Xiangyang has built a vast business empire, controlling or holding stakes in 236 companies with a total market value exceeding 900 billion yuan as of 2022 [10] - His investments span the lithium battery supply chain, including companies like Rongda Lithium Industry and Dongguan Derui, which have been crucial in supporting Rongjie Co., Ltd. during challenging times [10][11] - Lv's investment strategy involves leveraging real estate profits to fund industrial ventures and financial investments, showcasing a diversified approach to wealth accumulation [12] Group 4 - The investment in BYD by Lv Xiangyang in 1995, amounting to 2.5 million yuan, has yielded returns exceeding 100 billion yuan, demonstrating a remarkable investment acumen [13][14] - This investment is highlighted as a significant success story in Chinese business history, showcasing the importance of recognizing potential in emerging industries [13][15] - The narrative emphasizes the value of investing in people and relationships, as the initial investment not only provided financial returns but also fostered a long-term partnership between Lv and his cousin Wang Chuanfu [16]

Group 1 - The core business of Rongjie Co., Ltd. primarily involves the lithium battery materials industry chain, including lithium mining, lithium salt processing, and lithium battery equipment manufacturing [2] - As of November 30, the company had 62,900 shareholders, an increase of 20.96% from the previous period, with an average of 4,119 circulating shares per person, a decrease of 17.33% [2] - For the period from January to September 2025, Rongjie Co., Ltd. achieved operating revenue of 510 million yuan, a year-on-year increase of 26.21%, while net profit attributable to shareholders decreased by 21.22% to 144 million yuan [2] Group 2 - The company's stock price has increased by 69.35% year-to-date, with a recent 5-day increase of 5.79% and a 60-day increase of 58.20% [1] - As of December 24, the stock price was 53.74 yuan per share, with a market capitalization of 13.954 billion yuan [1] - The company has made cumulative cash distributions of 495 million yuan since its A-share listing, with 375 million yuan distributed over the past three years [3] Group 3 - Major shareholders include Hong Kong Central Clearing Limited, which holds 5.2546 million shares, an increase of 1.6942 million shares from the previous period [3] - The Southern CSI 1000 ETF and Huaxia CSI 1000 ETF have seen changes in their holdings, with the former decreasing by 15,700 shares and the latter decreasing by 100 shares [3]