Core Insights - The core viewpoint of the article highlights the significant growth in China's lithium battery separator shipments, with a projected volume of approximately 13.3 billion square meters in the first half of 2025, representing a year-on-year increase of 47.6% [2]. Group 1: Industry Overview - The total shipment of lithium battery separators in China for 2025H1 is estimated at 13.3 billion square meters, with a year-on-year growth of 47.6% [2]. - Among the shipments, wet-process separators account for 10.95 billion square meters, making up 82.3% of the total, while dry-process separators contribute 2.35 billion square meters, or 17.7% [2]. - The share of wet-process separators has increased by 11.1% compared to the previous year, primarily due to the rising penetration of 314Ah cells in the energy storage sector, which are better suited for wet-process separators [2]. Group 2: Market Leaders - The top 10 companies in China's lithium battery separator shipments for 2025H1 are as follows: 1. SEMCORP (恩捷股份) 2. Xingyuan Material (星源材质) 3. Jinli (金力股份) 4. China National Materials (中材科技) 5. Housheng New Energy (厚生新能源) 6. Kanghui New Materials (康辉新材) 7. Huiqiang New Energy (惠强新能源) 8. Zhongxing New Materials (中兴新材) 9. Cangzhou Mingzhu (沧州明珠) 10. Putailai (璞泰来) [3].

（文章来源：证券日报） 证券日报网讯 8月8日晚间，恩捷股份发布公告称，公司分别于2025年4月22日、2025年5月13日召开第 五届董事会第四十次会议和第五届董事会第四十三次会议，审议通过了《关于变更注册资本并修订及办 理工商变更登记的议案》。近日，公司完成了相关工商变更登记备案手续，并取得玉溪市市场监督管理 局换发的《营业执照》。 ...

Group 1 - The company has completed the construction of a 10-ton level sulfide solid electrolyte and is capable of supplying it [2] - Currently, the company has not generated significant revenue from this product on a large scale [2] - The company advises investors to be cautious regarding investment risks [2]

Investment Rating - The industry investment rating is "Overweight" [2][51]. Core Viewpoints - The lithium battery industry is experiencing a structural shift with opportunities in solid-state battery segments. The demand for power batteries is expected to recover as the traditional peak season approaches, while energy storage demand remains high. The report suggests focusing on leading companies in the battery and materials sectors that have technological and production advantages in solid-state electrolytes and new materials [3][45]. Summary by Sections Market Review - As of August 7, 2025, the lithium battery index has decreased by 6.59% over the past two weeks, underperforming the CSI 300 index by 5.77 percentage points. Year-to-date, the lithium battery index has increased by 4.55%, also underperforming the CSI 300 index by 0.01 percentage points [4][13]. Price Changes in the Lithium Battery Supply Chain - As of August 7, 2025, the average price of battery-grade lithium carbonate is 71,200 CNY/ton, up 0.92% in the last two weeks. The price of lithium hydroxide (LiOH 56.5%) is 69,300 CNY/ton, up 2.36% [25][27]. - Electrolytic cobalt is priced at 267,000 CNY/ton, up 8.10%, while electrolytic nickel is at 122,400 CNY/ton, down 2.08% [26]. - Phosphate iron lithium prices remain stable at 32,700 CNY/ton, while NCM523, NCM622, and NCM811 have seen increases of 1.78%, 1.68%, and 0.69%, respectively [27][30]. - The price of lithium hexafluorophosphate is 50,300 CNY/ton, up 1.62%, with other electrolyte prices remaining stable [31]. Industry News - In July, the retail sales of new energy vehicles reached 1,003,000 units, a year-on-year increase of 14%, while wholesale sales were 1,179,000 units, up 25% year-on-year. The report indicates a traditional seasonal decline in sales but a strong year-on-year growth [42][45]. - Major automotive companies are advancing solid-state battery technology, with significant investments and developments reported by companies like Volkswagen and Gotion High-Tech [42][44]. Company Announcements - Notable companies such as CATL reported a revenue of 178.886 billion CNY in the first half of 2025, a year-on-year increase of 7.27%, with a net profit of 30.485 billion CNY, up 33.33% [44][47]. - Other companies like Keda and Enjie are also showing strong performance and growth in their respective sectors, particularly in solid-state battery materials and components [47].

Investment Rating - The industry investment rating is "Overweight" [1][49]. Core Insights - The report highlights structural opportunities in the solid-state battery sector, indicating ongoing industrialization and the potential for material and equipment upgrades within the supply chain [1][43]. - The lithium battery index has shown a decline of 6.59% over the past two weeks, underperforming the CSI 300 index by 5.77 percentage points [3][12]. - The report suggests focusing on leading companies in the battery and materials sectors that are expected to improve fundamentals, particularly those with technological and production advantages in solid-state electrolytes and new electrode materials [43][45]. Summary by Sections Market Review - As of August 7, 2025, the lithium battery index has decreased by 6.59% in the last two weeks and by 0.06% month-to-date, while it has increased by 4.55% year-to-date [3][12]. - The report notes that the lithium carbonate price is 71,200 CNY/ton, up 0.92% in the last two weeks, while lithium hydroxide is priced at 69,300 CNY/ton, up 2.36% [5][24]. Price Changes in the Lithium Battery Supply Chain - The report details price changes across various components, with lithium carbonate and lithium hydroxide prices increasing, while other materials like phosphoric iron lithium and negative electrode materials remained stable [22][30]. - The average price of lithium hexafluorophosphate is 50,300 CNY/ton, reflecting a 1.62% increase in the last two weeks [30][34]. Industry News - The report includes significant industry developments, such as the announcement of new electric vehicle models and advancements in solid-state battery technology by various companies [40][41]. - It mentions that the penetration rate of new energy vehicles in the retail market reached 54.7% in July, with a year-on-year growth of 14% [40][43]. Company Announcements - Notable company performance includes CATL achieving a revenue of 178.886 billion CNY in the first half of 2025, a year-on-year increase of 7.27% [42][45]. - Other companies like Keda Li and Enjie have also reported positive earnings forecasts, indicating growth in their respective sectors [45]. Recommended Stocks - Key stocks to watch include CATL (300750), Keda Li (002850), Enjie (002812), Tian Nai Technology (688116), and Naconor (832522), all of which are positioned to benefit from the anticipated growth in the solid-state battery market [43][45].

证券代码：002812 股票简称：恩捷股份 公告编号：2025-127 债券代码：128095 债券简称：恩捷转债 2025 年 8 月 7 日，公司已如期收回上述七天通知存款本金人民币 646.00 万 元及收益人民币 0.44 万元，本金人民币 1,499.00 万元及收益人民币 0.19 万元， | 证券代码：002812 | 股票简称：恩捷股份 公告编号：2025-127 | | --- | --- | | 债券代码：128095 | 债券简称：恩捷转债 | 并于同日将上述本金及收益合计人民币 2,145.63 万元全额转回公司募集资金专 项账户存储。 二、公告日前十二个月内（含本次）公司使用闲置募集资金进行现金管理 云南恩捷新材料股份有限公司 关于使用部分闲置募集资金进行现金管理到期收回的公告 本公司及全体董事保证本公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 云南恩捷新材料股份有限公司（以下简称"公司"）于 2025 年 6 月 16 日召 开第五届董事会第四十四次会议，审议通过了《关于使用部分闲置募集资金进行 现金管理的议案》，同意公司在确保不影响募集资金投资计划正常进行的 ...

云南恩捷新材料股份有限公司（以下简称"公司"）分别于 2025 年 4 月 22 日、2025 年 5 月 13 日召开第五届董事会第四十次会议和第五届董事会第四十三 次会议，审议通过了《关于变更注册资本并修订<公司章程>及办理工商变更登 记的议案》，具体内容详见公司分别于 2025 年 4 月 23 日、2025 年 5 月 14 日在 指定信息披露媒体《中国证券报》《证券日报》《证券时报》《上海证券报》和 巨潮资讯网（www.cninfo.com.cn）刊登的《关于变更注册资本并修订<公司章程> 及办理工商变更登记的公告》（公告编号：2025-060 号、2025-077 号）。上述 事项已经公司 2024 年度股东会和 2025 年第四次临时股东会审议通过，详见公司 分别于 2025 年 5 月 15 日、2025 年 6 月 3 日在指定信息披露媒体刊登的《关于 2024 年度股东会决议的公告》（公告编号：2025-081 号）、《关于 2025 年第四 次临时股东会决议的公告》（公告编号：2025-087 号）。 近日，公司完成了相关工商变更登记备案手续，并取得玉溪市市场监督管理 局换发的《营业执照 ...

云南恩捷新材料股份有限公司 证券代码：002812 股票简称：恩捷股份 公告编号：2025-126 债券代码：128095 债券简称：恩捷转债 本公司及全体董事保证本公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 关于公司合并报表范围内提供担保的进展公告 一、担保情况概述 云南恩捷新材料股份有限公司（以下简称"公司"）于 2024 年 12 月 27 日召 开第五届董事会第三十五次会议，审议通过了《关于公司 2025 年度合并报表范 围内担保额度的议案》，详见公司于 2024 年 12 月 31 日在指定信息披露媒体《证 券时报》《证券日报》《上海证券报》《中国证券报》和巨潮资讯网 （www.cninfo.com.cn）刊登的《关于公司 2025 年度合并报表范围内担保额度的 公告》（公告编号：2024-253 号）。公司于 2025 年 1 月 16 日召开 2025 年第一 次临时股东会审议通过了上述事项。 二、担保进展情况 近日，公司与中信银行股份有限公司珠海分行（以下简称"中信银行珠海分 行"）签订《最高额保证合同》（合同编号：（2025）穗银珠海最高保 02564 号），对下属子 ...

关于股东部分股份质押变动的公告 本公司及全体董事保证本公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 云南恩捷新材料股份有限公司 云南恩捷新材料股份有限公司（以下简称"公司"）于近日接到公司持股5% 以上股东玉溪合益投资有限公司（以下简称"合益投资"）的通知，获悉合益投 资将其持有的部分公司股份办理了补充质押、解除质押及质押展期手续，具体事 项如下： 债券代码：128095 债券简称：恩捷转债 证券代码：002812 股票简称：恩捷股份 公告编号：2025-125 四、股东股份累计质押基本情况 截至本公告披露日，合益投资及其一致行动人所持股份质押情况如下： 一、股东部分股份补充质押的基本情况 | 股东名称 | 是否为控股股东 | 本次补充 | 占其所 | 占公司总 | 是否 | 是否为补 | 补充质押 | 质押 | 质权人 | 用途 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 或第一大股东及 | 质押股份 | 持股份 | 股本比例 | 为限 | 充质押 | 起始日 | 到期日 | | | ...

证券日报网讯恩捷股份（002812）8月5日在互动平台回答投资者提问时表示，关于近期多家车企承诺将 压缩供应商支付账期的政策，公司认为有助于提升整个供应链的资金流转效率，对企业加强现金流管 理、优化资金周转具有积极作用。公司将密切关注后续相关情况。同时公司管理层将积极做好经营发展 规划，持续加强研发技术创新，巩固和发展与客户的长期稳定合作关系，实施有效的降本增效措施，同 时公司会持续开发新产品，以满足客户多元化需求，已有超薄高强度、高耐热、高浸润和快充、高安全 等隔膜产品，还在加强研发和开发，实现多元化产品矩阵，提升公司产品的竞争力，共同促进行业健康 发展。全固态方面，公司已布局硫化锂、固态电解质、固态电解质膜的研发、生产及销售，同时，公司 会密切关注行业技术发展和动态，稳步推进公司全固态电池材料的拓展。 ...