Core Viewpoint - The report highlights the performance and strategic focus of the Bosera New Energy Theme Mixed A Fund, emphasizing its investment in high-growth and low-penetration sectors within the new energy industry, particularly in electric equipment and solid-state batteries [3][4]. Fund Performance - The fund reported a profit of 440,800 yuan in Q4 2025, with a weighted average profit per share of 0.0022 yuan [3]. - The net asset value (NAV) growth rate for the fund was 0.39% during the reporting period, with a total fund size of 162 million yuan as of the end of Q4 [3][15]. - As of January 22, the fund's unit NAV was 0.872 yuan [3]. Comparative Performance - Over the past three months, the fund's NAV growth rate was 12.65%, ranking 49 out of 100 among comparable funds [4]. - The fund's NAV growth rate over the past six months was 41.54%, ranking 31 out of 100 [4]. - The one-year NAV growth rate was 52.48%, ranking 36 out of 92 [4]. - The three-year NAV growth rate was 10.94%, ranking 31 out of 68 [4]. Risk Metrics - The fund's Sharpe ratio over the past three years was 0.4889, ranking 25 out of 66 among comparable funds [9]. - The maximum drawdown over the past three years was 46.79%, with the highest single-quarter drawdown occurring in Q2 2022 at 22.22% [11]. Investment Strategy - The fund manager indicated an increased allocation to high-growth and low-penetration sectors within the new energy industry, specifically targeting electric equipment exports and upstream lithium battery materials [3]. - The solid-state battery sector is highlighted as a low-penetration area, with expectations for mass production to begin in 2026 and scale deployment in 2027 [3]. Portfolio Composition - As of December 31, the fund's top ten holdings included companies such as CATL, Sungrow Power Supply, and Tianqi Lithium [18]. - The average stock position over the past three years was 86.14%, with a peak of 89.88% at the end of Q1 2023 [14].

爱建证券近日发布锂电行业跟踪：2025年1-12月，国内电池和磷酸铁锂正极材料产量显著高于2024年同 期。2025年12月，国内电池产量201.7GWh，同比增长约62%，环比增长约14%；2025年12月，国内磷 酸铁锂正极材料产量26.93万吨，同比增长32.48%，环比增长0.16%，产能利用率为59.85%。 以下为研究报告摘要： 投资要点： 投资建议：1)2025年1-12月，国内电池和磷酸铁锂正极材料产量高于2024年同期，碳酸锂和储能电芯价 格呈现波动上涨态势，国内电池月度装车量和新型储能招标容量环比增长，关注动力电池与储能协同布 局、海外布局领先的电芯核心企业；2)锂电需求提升，关注锂电材料相关企业；3)建议关注宁德时代 （300750）(300750.SZ)、亿纬锂能（300014）(300014.SZ)、欣旺达（300207）(300207.SZ)、湖南裕能 （301358）(301358.SZ)、天赐材料（002709）(002709.SZ)、多氟多（002407）(002407.SZ)。 风险提示：1)原材料价格波动；2)全球需求不及预期；3)行业竞争加剧。(爱建证券朱攀,陆嘉怡) ...

1月21日，多氟多盘中上涨2.18%，截至10:00，报31.38元/股，成交4.88亿元，换手率1.46%，总市值 373.56亿元。 多氟多所属申万行业为：基础化工-化学制品-氟化工。所属概念板块包括：熔喷布、六氟磷酸锂、电解 液、电动物流车、钠电池等。 截至9月30日，多氟多股东户数21.42万，较上期增加33.69%；人均流通股5043股，较上期减少25.20%。 2025年1月-9月，多氟多实现营业收入67.29亿元，同比减少2.15%；归母净利润7805.46万元，同比增长 212.68%。 分红方面，多氟多A股上市后累计派现20.34亿元。近三年，累计派现10.40亿元。 机构持仓方面，截止2025年9月30日，多氟多十大流通股东中，香港中央结算有限公司位居第三大流通 股东，持股2127.42万股，相比上期增加39.91万股。鹏华中证细分化工产业主题ETF联接A（014942）位 居第五大流通股东，持股1782.87万股，为新进股东。广发国证新能源车电池ETF（159755）位居第六 大流通股东，持股1101.72万股，为新进股东。汇添富中证新能源汽车产业指数(LOF)A（501057）、富 国 ...

Core Viewpoint - The article highlights the rapid development and technological advancements of Duofluoride New Materials Co., Ltd. in the new energy sector, particularly in lithium-ion battery production, and the broader growth of the new materials industry in Jiaozuo City, which is becoming a key pillar of the local economy [1][2][3]. Group 1: Company Developments - Duofluoride's new energy technology company has achieved a daily production capacity of 160,000 battery cells in its fully automated production facility [1]. - The company is a leader in the fluorine materials sector, producing lithium hexafluorophosphate, which is used in one out of every three lithium batteries globally [1]. - Duofluoride's electronic-grade hydrogen fluoride production has reached world-class levels, and its high polymer products have consistently ranked first in global production and sales [2]. Group 2: Industry Growth - Jiaozuo's new materials industry has grown to include 397 enterprises, surpassing a scale of 100 billion yuan, with five major segments: new energy battery materials, modern chemical new materials, aluminum-based and titanium-zirconium alloy materials, green building materials, and superhard materials [3]. - The new materials industry in Jiaozuo has been recognized with several accolades, including the designation of its lithium-ion battery materials cluster as a strategic emerging industry cluster in Henan Province [3]. - Future plans for the new materials industry in Jiaozuo include focusing on solid-state and flow batteries, as well as developing new metal materials and advanced materials like carbon and semiconductor materials [3][4]. Group 3: Collaborative Projects - Jiaozuo has signed agreements with various companies, including a partnership with Hangzhou Jinjiang Group to collaborate on projects related to recycled aluminum and basalt fiber [4]. - Ongoing discussions with Yongjin Technology Group aim to enhance high-end titanium alloy production and industry chain collaboration, positioning Jiaozuo as a significant hub for titanium material processing [4].

Core Viewpoint - The article highlights the rapid development and technological advancements of Duofluoride New Materials Co., Ltd. in the field of new energy battery production, emphasizing its significant role in the new materials industry in Jiaozuo, China [2][3][4]. Group 1: Company Overview - Duofluoride has established an automated production facility for power batteries with an annual capacity of 8GWh, achieving a daily output of 160,000 battery cells [2]. - The company is a leader in the fluorine materials sector, producing lithium hexafluorophosphate, which is used in one out of every three lithium batteries globally [3]. - Duofluoride's electronic-grade hydrofluoric acid production has reached world-class levels, and it has maintained the highest global sales for polymer products like alumina and anhydrous aluminum fluoride [3]. Group 2: Industry Development - Jiaozuo's new materials industry has grown to include 397 enterprises, surpassing a scale of 100 billion yuan, with five key segments: new energy battery materials, modern chemical new materials, aluminum-based and titanium-zirconium alloy materials, green building materials, and superhard materials [4]. - The new materials industry in Jiaozuo has been recognized for its innovation, with clusters for new energy storage devices and lithium-ion battery materials being designated as strategic emerging industry clusters in Henan Province [4]. - Future plans for Jiaozuo's new materials industry include focusing on solid-state and flow batteries, as well as developing new metal materials and advanced materials like carbon and semiconductor materials [4][5].

Core Viewpoint - The A-share market experienced fluctuations with the battery sector under pressure, as evidenced by the decline of the Battery 50 ETF (159796) by 2.55% after four consecutive days of gains, with a trading volume of 322 million yuan [1]. Group 1: Market Performance - The Battery 50 ETF (159796) saw most of its constituent stocks decline, with significant drops including Sunshine Power down over 5%, and others like Xian Dao Intelligent and Multi-Fluorine down over 4% [3]. - The top ten constituent stocks of the Battery 50 ETF include major players such as Sunshine Power and Ningde Times, with varying declines in their stock prices [4]. Group 2: Project Announcements - On January 19, China Energy Construction announced the procurement results for a 153 MW battery storage project in South Africa, with Sunshine Power winning the bid for a total project capacity of 742.22 MWh and a contract value of 528 million yuan (approximately 0.86 yuan/Wh) [5]. Group 3: Industry Trends - The battery sector is expected to recover due to multiple catalysts, including a surge in demand for energy storage, rising material prices, and accelerated solid-state battery technology [6]. - Global demand for large-scale energy storage is projected to exceed expectations, with a forecasted growth of over 60% by 2026, driven by various market factors including the U.S. Inflation Reduction Act [7]. - Prices of upstream raw materials have generally increased, with battery-grade lithium carbonate rising by 64.4% to 157,000 yuan/ton, and lithium hydroxide up by 77.51% to 150,000 yuan/ton as of January 16, 2026 [8]. Group 4: Technological Developments - The solid-state battery sector is witnessing rapid advancements, with significant policy support and market catalysts enhancing industry prospects [9]. - Major automotive manufacturers are accelerating the integration of solid-state batteries, with companies like FAW Hongqi and GAC Group making substantial progress towards mass production by 2027 [9]. Group 5: Investment Opportunities - The Battery 50 ETF (159796) is positioned to benefit significantly from the energy storage sector, with a storage component of 18.7%, and a solid-state battery component of 45%, indicating strong growth potential [10]. - The ETF's focus on energy storage and power batteries, along with its low management fee of 0.15% per year, makes it an attractive investment option for capturing opportunities in the battery sector [16].

Group 1 - The core announcement is that the company, Duo Fluoride, has received notification from its controlling shareholder, Mr. Li Shijiang, regarding the pledge of shares by Ms. Li Lingyun, a concerted actor [2] - The total number of shares being pledged amounts to 2.3102 million shares [2]

Market Overview - The Shanghai Composite Index fell by 0.01% on January 20, with 20 industries rising, led by the oil and petrochemical sector, which increased by 1.74%, and the building materials sector, which rose by 1.71% [1] - The basic chemical industry saw a rise of 1.15% [1] - The communication and defense industries experienced the largest declines, with drops of 3.23% and 2.87%, respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 95.723 billion yuan, with 11 industries experiencing net inflows [1] - The banking sector had the highest net inflow of 1.472 billion yuan, with a daily increase of 0.80% [1] - The real estate sector followed with a daily increase of 1.55% and a net inflow of 627 million yuan [1] - The power equipment industry had the largest net outflow, totaling 19.054 billion yuan, followed by the electronics industry with an outflow of 18.394 billion yuan [1] Basic Chemical Industry Performance - The basic chemical industry had a net inflow of 475 million yuan, with 236 out of 408 stocks rising, including 12 hitting the daily limit [2] - The top three stocks with the highest net inflow were Hongbaoli (3.38 billion yuan), Zhongyida (2.95 billion yuan), and Yanhai Co. (2.67 billion yuan) [2] - The stocks with the largest net outflow included Duofluor (3.20 billion yuan), Shenjian Co. (2.25 billion yuan), and Dongcai Technology (1.57 billion yuan) [2][4] Basic Chemical Industry Capital Inflow and Outflow Inflow Rankings - Hongbaoli: +9.96%, turnover rate 11.78%, net inflow 338.19 million yuan [2] - Zhongyida: +9.96%, turnover rate 11.59%, net inflow 294.70 million yuan [2] - Yanhai Co.: +1.94%, turnover rate 2.27%, net inflow 266.55 million yuan [2] Outflow Rankings - Duofluor: -4.63%, turnover rate 8.04%, net outflow -320.19 million yuan [4] - Shenjian Co.: -9.99%, turnover rate 28.21%, net outflow -224.89 million yuan [4] - Dongcai Technology: -6.68%, turnover rate 10.05%, net outflow -157.38 million yuan [4]

1、本次股份解质押情况 2、上述股东及其一致行动人所持股份质押情况 证券代码：002407 证券简称：多氟多 公告编号:2026-004 多氟多新材料股份有限公司 关于控股股东一致行动人部分股份解质押的公告 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。 近日，多氟多新材料股份有限公司（以下简称"公司"）接到控股股东李世 江先生一致行动人李凌云女士的通知，获悉李凌云女士将其持有的公司部分股份 办理了解质押手续，现将具体情况公告如下： 一、股东股份解质押基本情况 | 股东名 称 | 是否为第一 大股东及一 | 本次解质押股 数（万股） | 占其所持股 份比例（%） | 占公司总股 本比例（%） | 质押起始日 | 解除日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 致行动人 | | | | | | | | 李凌云 | 是 | 71.71 | 8.23 | 0.06 | 2024-03-28 | 2026-01-16 | 王某 | | | | 62.91 | 7.22 | 0.05 ...

Group 1 - The article discusses various investment themes including robotics, new energy, AI computing power, and anti-involution [1] - Companies mentioned with their respective stock performance include Wanhua Chemical at 10.22%, Juhua Co. at 3.68%, and Tianqi Lithium at 6.34% [1] - The article highlights the significance of materials such as PEEK and various chemical products like refrigerants and fluorochemicals in the current market [1]