Core Viewpoint - The company, Jinhe Industrial, is not currently producing lithium battery electrolyte products but is actively engaging in the related supply chain and has optimistic views on the development prospects of new energy materials [2]. Group 1: Company Activities - The company has not directly produced terminal products for lithium battery electrolytes [2]. - Jinhe Industrial is involved in the supply chain with products such as thionyl chloride, which can be used in the preparation of electrolytes [2]. - The company has established a facility with an annual production capacity of 10,000 tons for key precursors of new-generation lithium salts [2]. - Several new electrolyte additives are currently in the optimization phase of pilot testing [2]. Group 2: Market Outlook - The company holds an optimistic attitude towards the development prospects in the new energy materials sector [2]. - Jinhe Industrial will continue to monitor market opportunities and steadily advance its industrialization process [2].

金禾实业（002597.SZ）11月19日在投资者互动平台表示，公司虽未直接布局锂电池电解液终端产品， 但通过氯化亚砜、锂盐前驱体及电解液添加剂等产品，已成功切入锂电池材料供应链。我们看好新能源 行业的长期发展，未来将结合市场需求，积极拓展相关业务机会。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：贵司业务是否涉及锂电池行业？ ...

Core Viewpoint - The company, Jinhe Industrial, is not currently producing lithium battery electrolyte products but is actively engaging in the related supply chain and has optimistic views on the development prospects of new energy materials [1]. Group 1: Company Activities - The company has not directly produced terminal products for lithium battery electrolytes [1]. - Jinhe Industrial has established a production facility for key lithium salt precursors with an annual capacity of 10,000 tons [1]. - Several new electrolyte additives are currently in the pilot optimization stage [1]. Group 2: Industry Outlook - The company maintains an optimistic attitude towards the development prospects in the new energy materials sector [1]. - Jinhe Industrial will continue to monitor market opportunities and steadily advance its industrialization process [1].

格隆汇11月19日丨金禾实业(002597.SZ)在投资者互动平台表示，公司目前未直接生产锂电池电解液终 端产品，但已在相关产业链进行积极布局，包括：氯化亚砜产品可用于电解液制备；已建成年产1万吨 新一代锂盐关键前驱体装置；多款新型电解液添加剂正处于中试优化阶段。公司对新能源材料领域的发 展前景持乐观态度，并将持续关注市场机遇，稳步推进产业化进程。 ...

Core Viewpoint - The company, Jinhe Industrial, has a current production capacity of 80,000 tons/year for thionyl chloride, which is expected to strengthen its leading position in the niche market and support high-growth industries such as new energy and pharmaceuticals. The company is confident about the market prospects for the new capacity [1]. Group 1 - The existing production capacity of thionyl chloride is 80,000 tons/year [1]. - The project aims to consolidate the company's leading advantage in the niche sector [1]. - The new capacity will provide strong support for downstream high-growth industries, including new energy and pharmaceuticals [1].

Core Viewpoint - The company is actively positioning itself within the lithium battery electrolyte supply chain, despite not directly producing end products at this time [1] Group 1: Company Developments - The company has not yet produced lithium battery electrolyte end products but is engaged in related supply chain activities [1] - It has established a facility with an annual production capacity of 10,000 tons for a new generation of lithium salt key precursors [1] - Several new electrolyte additives are currently in the pilot optimization stage [1] Group 2: Industry Outlook - The company holds an optimistic view on the development prospects in the new energy materials sector [1] - It plans to continuously monitor market opportunities and steadily advance its industrialization process [1]

格隆汇11月19日丨金禾实业(002597.SZ)在投资者互动平台表示，公司现有氯化亚砜产能为8万吨/年。该 项目将进一步巩固公司在细分领域的领先优势，并为下游新能源、医药等高增长产业提供有力支撑。公 司对新增产能的市场前景充满信心。 ...

Core Viewpoint - The company has made significant progress in developing core materials for the display sector, currently in the pilot testing and client validation phase, with positive verification progress reported [2] Group 1 - The core materials being developed are crucial for the display industry [2] - The company is currently in the pilot testing and client validation stage for these materials [2] - Specific names of the materials cannot be disclosed due to technical details and commercial confidentiality agreements [2]

Group 1 - A-shares indices opened lower but closed higher, with the Shanghai Composite Index reaching a ten-year high, driven by strong performance in the consumer sector [1] - The China Securities Food and Beverage Index rose by 0.69%, marking six consecutive days of gains, with notable stocks including San Yuan and Xin Nuo Wei [1] - The China A500 Index increased by 1.43%, with multiple stocks such as Tianhua New Energy and Xinjie Materials rising over 10% [1] Group 2 - During the "Double 11" shopping festival from October 21 to November 11, the national postal and express delivery companies processed 13.938 billion packages, achieving significant year-on-year growth [2] - Instant retail emerged as the biggest surprise during the "Double 11" festival, with Meituan's flash purchase platform reporting record highs in transaction volume, user numbers, and per capita spending [2] - Zhongyin Securities anticipates a recovery in the food and beverage sector, highlighting resilient performance in the liquor sector and the recovery of mass consumer goods [2] - Shengan Securities noted that subcategories within mass consumer goods, such as snacks and yellow wine, continue to show growth, with Q3 revenue for leading companies in these categories maintaining good year-on-year growth [2]

Core Viewpoint - The price of chlorosulfonic acid has surged rapidly, with a recent increase of 13.72% to 1765 RMB/ton, marking a cumulative rise of 23.5% in November and over 35% since early August, indicating a significant trend in the electrolyte raw material market [1][3]. Group 1: Price Trends - Chlorosulfonic acid is a key raw material for lithium bis(fluorosulfonyl)imide (LiFSI), which is increasingly seen as a substitute for lithium hexafluorophosphate (LiPF6) due to its superior technical specifications [3]. - The price of lithium hexafluorophosphate has reached 130,000 RMB/ton, diminishing its cost advantage over LiFSI [3]. - The price increase of chlorosulfonic acid is partly driven by a significant rise in sulfur prices, which have exceeded 3500 RMB/ton, with an annual increase of over 130% [3]. Group 2: Stock Market Reactions - On November 13, the A-share lithium battery industry chain saw a broad increase, particularly in stocks related to electrolytes, with companies like Furui Co. experiencing six consecutive trading limits [4]. - Several stocks, including Fuxiang Pharmaceutical, Huasheng Lithium Battery, and Haike New Source, also hit the 20% trading limit [6]. - Chlorosulfonic acid-related stocks such as Sanyou Chemical, Shilong Industrial, and Kaisheng New Materials experienced rapid price increases, with some reaching trading limits [6][9]. Group 3: Company Capacities and Developments - Kaisheng New Materials is a global leader in chlorosulfonic acid production, with an annual capacity of 150,000 tons, holding over 26% of the global market share [9]. - Jinhua Industrial has an existing capacity of 80,000 tons for chlorosulfonic acid, with a project to build an additional 100,000 tons underway [9]. - Sanyou Chemical is progressing on a project to produce 40,000 tons of chlorosulfonic acid, expected to be completed in Q4 of this year [9]. - Companies like Taihe Technology and Yongtai Technology are also expanding their production capacities for lithium bis(fluorosulfonyl)imide, with planned capacities of 20,000 tons and 67,000 tons per year, respectively [10][11].