格隆汇9月5日｜A股市场锂矿股午后进一步拉升，其中，欣旺达涨超14%，赣锋锂业10CM涨停，亿纬 锂能涨超9%，德方纳米、天齐锂业涨超8%，中矿资源、永兴材料涨超7%，东阳光、盛新锂能、西藏珠 峰、华友钴业涨超6%，融捷股份、耐普矿机、国城矿业、盐湖股份、江特电机涨超5%。 ...

9月5日，盛新锂能涨5.23%，截至发稿，报18.31元/股，成交5.93亿元，换手率3.83%，总市值167.59亿 元。 资料显示，盛新锂能集团股份有限公司位于广东省深圳市福田区皇岗路5001号深业上城(南区)T1栋56 楼，成立日期2001年12月29日，上市日期2008年5月23日，公司主营业务涉及中纤板、林木的生产与销 售;稀土产品、氯化锂、电池级单水氢氧化锂、电池级碳酸锂的生产销售等新能源、新材料领域。主营 业务收入构成为：新能源100.00%。 从盛新锂能十大流通股东角度 数据显示，华夏基金旗下1只基金位居盛新锂能十大流通股东。华夏行业景气混合（003567）二季度持 有股数999.43万股，持股数量与上期相比不变，占流通股的比例为1.15%。根据测算，今日浮盈赚取约 909.48万元。 华夏行业景气混合（003567）基金经理为钟帅。 截至发稿，钟帅累计任职时间5年41天，现任基金资产总规模82.53亿元，任职期间最佳基金回报 144.62%， 任职期间最差基金回报0.18%。 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 ...

证券之星消息，9月4日能源金属板块较上一交易日下跌0.94%，盛屯矿业领跌。当日上证指数报收于 3765.88，下跌1.25%。深证成指报收于12118.7，下跌2.83%。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 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002240 | 盛新理能 | 17.40 | 3.69% | 53.44万 | 9.30亿 | | 002460 | 赣锋锂业 | 40.55 | 1.30% | 86.83万 | 35.39亿 | | 002466 | 天齐锂V | 42.66 | 1.28% | 63.90万 | 27.50 Z | | 002192 | 融捷股份 | 34.98 | 0.60% | 9.39万 | 3.31亿 | | 000762 | 西藏矿业 | 21.28 | 0.42% | 18.14万 | 3.89 Z | | 603399 | ...

9月2日，盛新锂能在业绩说明会上表示，上半年印尼盛拓产能爬坡情况良好，目前部分核心客户的认证工作已完成，并已开始批量供货。 此外，上半年，盛新锂能木绒锂矿采选尾工程项目已取得建设项目用地预审与选址意见书、省发改委的核准批复等相关进展，其他各项工作亦在有序推进 中。 （校对/黄仁贵） 盛新锂能称，后续公司将根据客户下单采购情况以及其他客户的认证进展情况，持续加大锂盐产品的供货量，持续提升产能利用率，尽快实现达产满产。 在固态电池领域，公司金属锂规划产能为年产3,000吨，目前已建成产能500吨，超薄超宽锂带已实现批量生产；公司规划新建的2,500吨金属锂项目已完成项 目备案，各项准备工作在有序推进中，项目建设即将启动。 ...

9月2日，盛新锂能集团股份有限公司举行2025年半年度网上业绩说明会，线上投资者参与此次活动，公 司董事兼总经理邓伟军、财务总监王琪、董事会秘书雷利民接待并回答提问，透露木绒锂矿开发进展、 印尼项目产能利用率等重要信息。 投资者关系活动详情 点击查看公告原文>> 责任编辑：小浪快报 调研精彩要点木绒锂矿开发进展：上半年木绒锂矿采选尾工程项目已取得建设项目用地预审与选址意见 书、省发改委的核准批复等进展，其他工作有序推进。公司凭借川西高海拔地区开发锂矿经验，积极推 进项目，争取尽快投产，增加锂矿资源供给。印尼项目产能利用率：印尼6万吨锂盐项目已开始批量供 货，公司正根据客户认证进展，加大供货量，提升产能利用率，争取尽快达产满产。下半年锂产品行情 及业绩影响：7月以来，因"反内卷"、部分矿山采矿权证问题引发供给担忧，叠加需求超预期，锂盐价 格反弹，市场回暖，公司经营改善。下半年公司将加强管理，优化成本，提高经营效率，改善业绩。储 能市场机遇：随着国内电力现货市场建设、取消强制配储等政策推进，储能市场向市场化机制过渡，盈 利预期向好，储能产业有望迎来新机遇。境外业务毛利率提升原因：报告期内境外业务部分来自海外工 厂 ...

Group 1: Lithium Mining Development - The development of the Muzhong lithium mine has progressed with necessary approvals obtained, aiming for production to commence soon [2] - The company has successfully developed the Aoyinuo mine in high-altitude areas of Sichuan, leveraging this experience for the Muzhong project [2] Group 2: Production and Supply - The Indonesian lithium salt project has started bulk supply, with a good ramp-up in production capacity [3] - The company plans to increase lithium salt supply based on customer orders and certification progress [3] Group 3: Market Outlook and Performance - The lithium product market is expected to improve in the second half of 2025 due to supply concerns and demand exceeding expectations, leading to a rebound in lithium prices [3] - The company reported a revenue of 1.6 billion yuan and a loss of 800 million yuan in the first half of the year, primarily due to low product prices and accounting provisions [5] Group 4: Strategic Initiatives - The company is focusing on international expansion, with significant investments in lithium resources in Indonesia and plans to explore opportunities in Africa and Argentina [6] - The company is also enhancing its capabilities in solid-state battery materials, with a planned annual production capacity of 3,000 tons of lithium metal [5] Group 5: Technological Advancements - The company is actively improving production processes in its salt lake lithium extraction projects and is optimistic about the future of this sector [5] - There are no current plans for battery recycling, but the company is monitoring developments in this area [5]

Investment Rating - The report maintains an "Overweight" rating for the non-ferrous metals sector [1]. Core Views - The non-ferrous metals sector saw a strong performance with a weekly increase of 7.16%, ranking second among all primary industries [14]. - The optimism in the industrial metals market is driven by expectations of a demand peak in China and the anticipation of interest rate cuts by the Federal Reserve [1][27]. - Gold is expected to have significant upward potential due to challenges to the independence of the Federal Reserve and declining real interest rates [4][50]. Summary by Sections Market Review - The Shanghai Composite Index rose by 0.84%, with the non-ferrous metals sector outperforming by 6.32 percentage points [14]. - All sub-sectors within non-ferrous metals experienced gains, with small metals up 12.02%, new materials up 5.67%, energy metals up 2.89%, precious metals up 7.22%, and industrial metals up 6.95% [14]. Industrial Metals - **Copper**: As of August 29, LME copper closed at $9,902/ton, up 1.08% week-on-week, while SHFE copper closed at ¥79,410/ton, up 0.91% [34]. Supply is tightening due to maintenance in domestic smelting plants and a reduction in Codelco's production target [34]. - **Aluminum**: LME aluminum closed at $2,619/ton, down 0.11%, while SHFE aluminum closed at ¥20,740/ton, up 0.53% [37]. The theoretical operating capacity of China's electrolytic aluminum industry increased to 44.035 million tons [39]. - **Zinc**: LME zinc closed at $2,814/ton, up 0.30%, while SHFE zinc closed at ¥22,140/ton, down 0.61% [41]. - **Tin**: LME tin closed at $34,950/ton, up 3.26%, and SHFE tin closed at ¥278,650/ton, up 4.78% [46]. Precious Metals - **Gold**: As of August 29, COMEX gold closed at $3,516.10/oz, up 2.89%, and SHFE gold closed at ¥785.12/g, up 1.52% [50]. The report highlights the significant challenge to the Federal Reserve's independence and the potential for further declines in real interest rates, which could drive gold prices higher [4][51]. The demand for gold in China is strong, with net imports through Hong Kong expected to reach 43.923 tons by July 2025, reflecting a 126.81% increase [51].

摘要 锂：短期供给扰动+长期重置成本角度看锂矿配置价值 20250831 当前锂矿市场的主要驱动因素包括固态电池题材的活跃以及供给端的扰动。固 态电池的发展带动了锂矿股票表现良好，尤其是一些布局固态电池的企业如赣 锋、天齐等。此外，江西宜春地区八个矿山在 930 节点之前需要上交储量报告， 这也引发了市场对锂矿供给端变化的关注。青海藏格盐湖停产和江西宜春红头 文件要求提交储量报告都对市场产生了影响。 固态电池的发展对锂矿股价有何影响？ 固态电池题材的发展通常会带动锂矿股价上涨。过去一年中，每当固态电池题 材活跃时，相关锂矿股如赣锋、天齐等都会跟着上涨。这些企业本身也在布局 固态电池，因此受到市场关注。 江西宜春八个矿山 930 节点前提交储量报告，或引发供给端扰动，可能 涉及锂资源税率调整，尾矿二次利用或可免税，直接影响企业成本。 2025 年碳酸锂期货价格波动加剧，主因青海藏格盐湖等停产或减产， 年化产能超 20 万吨，远超 2024 年 Q4 澳洲矿山停产规模，推动期货价 格突破 9 万元。 短期内，2025 和 2026 年锂矿市场预计过剩，分别过剩 19 万吨和 21.5 万吨 LCE，但需警惕海内外 ...

Market Overview - On August 28, the energy metals sector rose by 0.91% compared to the previous trading day, with Boqian New Materials leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Stock Performance - Boqian New Materials (605376) closed at 49.14, up 5.00%, with a trading volume of 125,600 shares and a transaction value of 610 million yuan [1] - Other notable performers included: - Cangge Mining (000408) at 50.69, up 2.14% [1] - Huayou Cobalt (603799) at 46.57, up 1.55% [1] - Tengyuan Mining (301219) at 65.20, up 1.09% [1] - Sai Rui Aluminum (300618) at 40.45, up 0.92% [1] Capital Flow - The energy metals sector experienced a net outflow of 1.101 billion yuan from institutional investors, while retail investors saw a net inflow of 916 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - Boqian New Materials saw a net inflow of 37.51 million yuan from institutional investors, but a net outflow of 73.68 million yuan from retail investors [3] - Other stocks with significant capital movements included: - Huayou Cobalt with a net inflow of 1.10 million yuan from institutional investors and a net inflow of 1.16 million yuan from retail investors [3] - Cangge Mining with a net outflow of 25.63 million yuan from institutional investors but a net inflow of 26.29 million yuan from retail investors [3]

Investment Rating - The report maintains a "Cautious Recommendation" rating for the company [4][6]. Core Views - The company reported a significant decline in performance for H1 2025, with revenue of 1.61 billion yuan, down 37.4% year-on-year, and a net loss attributable to shareholders of 840 million yuan, an increase in loss of 349.9% year-on-year [1]. - The company is accelerating its resource integration layout despite the performance drag from inventory impairment [3]. - The lithium product prices have been on a downward trend, with battery-grade lithium carbonate averaging 75,000 yuan/ton in Q1 and 65,000 yuan/ton in Q2, reflecting year-on-year declines of 26.1% and 38.2% respectively [2]. Summary by Sections Financial Performance - In H1 2025, the company achieved a revenue of 1.61 billion yuan, with a gross margin of -3.7%, a decrease of 6.9 percentage points year-on-year [2]. - The company recorded an operating cost of 1.67 billion yuan, down 33.3% year-on-year, attributed to a decrease in sales volume and unit costs of lithium salt products [2]. Inventory and Impairment - The company recognized an asset impairment loss of 440 million yuan in H1 2025, which accounted for 43.5% of total profit, significantly impacting overall performance [3]. - The company also recorded a credit impairment of 70 million yuan, with 10 million yuan for accounts receivable and 60 million yuan for other receivables [3]. Resource Development - The company has significantly increased its self-owned mineral production capacity, with the Sichuan Yilonggou lithium concentrate capacity maintained at 75,000 tons/year and the Zimbabwe Sabie Star mine capacity reaching 290,000 tons/year after technical upgrades [2]. - The company is actively developing the Muliang lithium mine, which has obtained mining permits and is planned to have a production capacity of 3 million tons [3]. Future Outlook - The company expects to turn profitable in 2026 and 2027, with projected net profits of 300 million yuan and 620 million yuan respectively, corresponding to PE ratios of 52 and 25 based on the closing price on August 27 [4][5].